Evening Star Newspaper, July 17, 1936, Page 14

TA—14 kR D. . BANKS SHOW 600D HALF YEAR e Earnings in Some Cases Are Ahead of Last Months of 1935. BY EDWARD C. STONE. Midyear bank statements incicate that Washington banks have enjoyed a favorable earning period during the past six months. Generally speaking, the banks in the Capital have held their own in earnings, compared with the last half of 1935, and in some in- stances have shown considerable im- provement. Bankers here call the latest state- | ments encouraging and say they dem- | onstrate the ability of soundly man- aged banking institutions to earn profits despite the handicaps of con- tinued low interest rates and a con- | tinued subnormal demand for blnk‘ credit. Loans during the past six months have held up well, bankers say. main- taining the levels of the latter part| of last year, and in some cases show- ‘ ing increases. The situation is perw haps best mirrored by the number of | amounts of the dividends which have been declared in the past six months on local bank stocks. They have con- stantly reflected increased strength and caused price quotations. ‘Washington bankers give several reasons in explaining how they have kept up or increased bank earnings. There has been a steady increase in trust department service, which is | highly profitable. While banks are | anxious to increase loans, yet they | have large sums of loanable funds ! constantly at work. At the same time many bankers stress the service | charges as the greatest single factor | in their present success. by rendering mervice at a profit which they for- | merly performed for nothing, or even | at a loss. | Referring to the bank and bank | stock situation in New York, Hoyt, Rose & Troster say in this week’s | review that credit expansion is taking | hold, higher call money is helpful, | recoveries are increasing, preferred | stocks or capital notes are being re- | tired or refunded and dividend yields are attractive. “Bank on the bank stocks” is the firm's conclusion after | a study of the June 30 statements. | Maryland to Sell Bonds. | The State of Maryland will receive | bids at the State treasurer’s office in | Annapolis, until noon, August 12, on | $55,000 3 per cent certificates of in- debtedness, known as general bond fssue of 1935. The bonds will be dated August 15, 1936, and mature serially 1939 to 1951. This financing represents a portion | of the $855,000 loan authorized by the 1935 General Assembly. Of the pro- | ceeds, $155,000 is to be used for con- struction purposes, the remaining | $700,000 to be applied to the Teach- ers’ Retirement Fund. The first instaliment of the issue in | the amount of $100,000 was sold in | August, 1935, In addition the State has already turned over $350,000 of the loan to the retirement fund. The remaining block of $350,000 will be applied to the teachers’ fund in the 1937 fiscal year. Cotton Loan Payments Asked. The Commodity Credit Corp. has announced that the 10-cent and 9- cent cotton loans on 1935-36 C. C. C. cotton form A, which mature July 31, 1936, will not be renewed and pay ment will be expected promptly ntl " maturity. At the present prices for spot cot- ton producers should have substantial equities in the cotton pledged to se- cure these loans and be in position to | repay the amount of the loans plus Interest and proper charges, the agency | believes. i Under the 1935-36 cotton-loan pro- | gram, only a small number of loans | were made and at the present time the corporation holds a total of 90,221 bales as security to these loans. Home Mortgages Popular. Stewart McDonald, housing admin- | istrator for Virginia, reports that the total volume of commitments to in- #ured home mortgages in the first half of 1936 exceeded the volume for the entire year in 1935. While this was not nearly all lhe\ home building, it is considered a good barometer for the entire fifth Federal Reserve district, as the figures have | closely followed the Virginia activity | before. Building operations generally in this territory have not been af- fected by the usual Summer slump. The sharp June rise in building activities all over the United -States brought the total value of permits is- sued in the 215 cities for the first half of 1936 to $463,643,585, surpassing all corresponding periods since 1931 ‘This was just one-third larger than the aggregate for the full 12 months of 1934, and compared with $253,244,- 099 for the first six months of 1935, or an advance of 83.1 per cent. American Stores Sales Up. Sales of American Stores Co. for June totaled $9,262,157, an increase of $190,978 over June, 1935, or 2.1 per | cent. Sales for the first six months of this year amounted to $57,014,545, against $58,776,360 in the like period 4n 1935, a decrease of 3 per cent. The company made a better showing in June this year than in May, accord- g to the Philadelphia monthly re- port. Transit Stock Holds at 17. Capital Transit stock held at 17 on the Washington Stock Exchange to- day, the new high for the year reached yesterday. The turnover was 60 shares. Capital Traction 5s closed at 92%, up an eighth from yesterday, after opening at 927%. Lanston Monotype sold at 851, today, a new 1936 high. Many other issues were active. Heard in Financial District. Jesse H. Jones, R. F. C. chairman, announced last night that in connec- tion with the recent offering by the Commodity Credit Corp. of $150,000,000 collateral trust notes; the Commis- sioner of Internal Revenue has ruled that such notes are exempt from Fed- eral stamp tax on issuance or transfer. In the period June 1 to June 30, 1936, aggregate of $543,000 principal amount of Chesapeake Corp. convert- ible collateral trust 5 per cent gold bonds due May 15, 1947, were converted into Chesapeake & Ohio common by their holders. The bonds were can- celed and retired in accordance with the indenture of May 15, 1927. PIG LEAD SALES. NEW YORK, July 17 (#).—The St. Joseph Lead Co. reports that 50 tons of pig lead from Southeast Missouri mines were sold yesterday at $4.45 per hundred pounds, St. Louis. MacAndrews & Forbes Co. Com- ryon share earnings, six months ended Prev. High. Low. 52 4% 18% 35% 28 213 % 64 175% A% 38 37% 364 457 391 211% 28% 12% 84 505 281y 5% 53% 125% 63% 55 72 507 135 137 41 6% 58% 9515 13% 281 9915 5 9% 377% 43% 183 FINANCIAL. Stock and Dividend Ral 42 Abr & Straus 59 Acme Stecl (13)._. 9% Adams Exp (a20c) - 17% Adams Millis(a75¢) 22% Address'graph 60c... 1% Advance Rumley 58 Alr Reduction (f1). 2 Alr-Way Elec Appl. 13% Alaska Jun (160¢)_. 215 Alleg Corp (4)® __ 12% Alleg pf w330w(d). 12% Alleg pf ws40w(d). 124 Alleg pf xW (d) e 27 Alleg pr of (4) ceee 2674 Alleg Steel (1) 157 Allted Chem (6) 2315 Allied Mills (a50¢)- 6% Allied Stores 69 Allled Stores pflfi\ 353 Allis-Chalmers (1). 19% Alpha Port Cmt(1)_ 274 Amal Leather 34 Amal Leath pf (32) 75 Amerada Corp (2)_. 50 Am Ag Chm Del(3) 37 Am Bank Note ( 65 Am Bnk Note pf(3) 40 Am Prake Sh(1.60) 124 Am BrakeShpf5% 115% Am Can (14) 30 Am Car & Foundry. 57% Am Car & Fdry pf__ 31 Am Chain 87% Am Chic's (4) T4 Am Colortyp 164 Am Crystai Su 89 Am CrvsS 1st pf(6) 313 Am Encaus Tiling - 615 Am & Foreign Pwr 25 Am & For Pw $6 pf. 29% Am & For Pw §7 pf. 12 Am & For Pw 24 pf 13 Am Hawatian (1) . 51 Am Hide & Leather 32% Am Hide & L pf (3) Am Home Pr (2.40) 274 Am Ice 17 Am Ice pf (2) 9% Am Internatio! 231 Am Locomotive . 66 Am Locomotive pf . 21 Am Mch & F (80c) 10 Am Mch & Met a25c 27 Am Metal 351 Am News(NY)2.40_ 7'; Am Power & Light 36% Am P&Lt $5 pf(2%) 42 Am P&Lt $6 of (3) . 18% Am Radiator Am Rolling M(1.20) 1036 61z 89% Am Safety Raz (6)- 18 Am Seating 25% Am Shipbuilding 02 56% Am Smelt&Ref (2). 13613Am Sm& Ref of (7). 5713 Am Snuff (13) ___ 201; Am Steel Foundrv 107% Am Steel Fy of (2). 26 Am Stores (2) ____. % Am Sugar (2) Am Sugar pf (1) _ 20% Am Sumatra Tob 11. 149'5 Am Tel & Teleg (9) 87 Am Tobaceo (5) 881: Am Tobacco B (5) . 874 Am Type Foundry__ , 19' Am Water Works _ 15 11015 Th s 2 64 i! 4% 9% 21 104% 69%, 8314 ©9% 28 8% 2% 5% A% 12% 20% 57% 3 8 8 31% 11% 35 117% 19% 86% 46% 46 T0% 108% 20% 106% 51% 12 28 9% 49 36% 21% 107% 45% 68% 103% 123% 82% 116% 24% 5% 82 June 30, were $1.13 against $1.25. 12% 4% 928 Am Wat W 1st (6)_ 7% Am Woolen = 54% Am Woolen pf (32) % Am Writ Paper (d) 312 Am Zinc & Lead 28 Anaconda Cop(a50c 35 Anaconda W (a50c) 15': Anchor Cap (60¢) 97 Anchor Cap nf 6% . 9 Andes Copper . _. 1054 Armour Del pf (7). 4% Armour (Illinofs) __ 66's Arm’r(I11)pr pf(6)_ 47% Armstrong C (1%). 713 Arnold Constab 50c 95 Artloom pf (17) - 12 Asso Dry GGoods 36 Assoclated Oil a25e 59 Atch To& S Fe(a2) 213 Atlantic Coast Line 11 AtlGulf& W Ind__ 265« Atlantic Ref (1) 111% Atlantic Ref pf (4). 48 Atlas Powder (12).. 265, Auburn Auto _ _ 5% Austin Nichols__ 4 Aviation Corp(Del) 2'; Bald Loc (d) - 29'; Bald Loc pf (d)_ 15% Baltimore & Ohlo _ 21 Baltimore & Ob pf.. 13 Barker Brothers 14}x Barnsdall Oil (80c¢) 163, Bayuk Cigar (75¢) - 18 Beatrice Cream (1). 107 Beatrice Cr pf (7). 85 Beech-Nut P (13)_. 1314 Belding-Hem (1) __ 21% Bendix Aviation(1) 20 Beneficial Lo(t1%) 48 Best & Co (12) 45% Bethlehem Steel 16% Beth Steel 6% ( 4 10713 Beth Steel 7% pf(7) 23 Bigelow-San(a50c). 14'; Blaw-Knox (40¢) 18% Bloomingdale (40c) 16% Boeing Airplane 44 Bohn Alum & Br(3) 80% Bon Ami A (4) 29 Bon Ami (B) (2%) 255 Borden Co (1.60) Borg-Warner (3) 6 Boston & Maine 124 Bridge'pt Brss 40c % Bridgep't B, July 23 43% Briggs Mfg (12) 41 Bristol-Myers (12)_ 40% Bklyn-Man Tr (3) __ 37M Bklyn-Man T pf(6)- 8!a Brunswick-Balke 874 Bucyrus-Erie 100 Bucyrus-E pf 83%_. 914 Budd (B G) Mfg 1 Budd 2d pd_ Oct 16 8% Budd Wheel = 203 Bullard Co (a26e) - 11% Bulova Watch 25 Burr Ad Mch(160¢) 2!3 Bush Terminal (d). 14% Bush Term B pf cod 8% Bush Term deb (d). 2% Butte Copper&Zine 16% Byers (A M) 22 Byron Jackson (11) 30% Caltfornia PKz(1%) % Callahan Zinc. . 6 Calumet&Hec a260. 30 Campbell Wy (t1)_. 10% Canada Dry G A_. 107 Canadian Pacific_. 37 Cannon Mills (2) . 12% Capital Admin (A)_ 6% Carriers & Gen 20c. 9215 Case (J 1) Co 54% Caterpillar Trac(2) 21% Celanese Corp ab0c. 19 Celotex Corp o 54 Celotex Corp pf 25% Cent Aguire (113%). 35 Central RROfINJ. 6% Century Rib Mills__ Cerro de Pasco (4)- 8% Certain-teed Prod 19%; Champ Pap & F (1). 101 Champion Pa pf (6) 22% Checker Cab Mfg__ 59 Chesapeake Corp(3) 51 Ches & Ohio (2.80)_ 1% Chi Grt West (d)__. 4 ChiGrt W of (d)._. 1% Chi Mi) StP&P (d)... 2% Chi M StP&P pf (d) 215 Ch1& N W (@) __ 6% Chi & N W pf (d) 124 Chi Pneumatie Tool 40% Chi Pneu Tool pf.... 1% Chi R | & Pac (d) - 3% Chi R I&P 6% pf(d) 315 Chi R (&P 7% pf(d) 19% Chi Yellow Cab (2). 7 Childs Co 25 Chile Copper (1. 85% Chrysler Corp (6).. 15% City Ice & Fuel (2) 72% City Ice&F of (63%) 23% Clark Equip (80¢)-. 33 Clev Graph Br (11). 48 Cluett Peabody (1)- 84 Coca-Cola (2) .. 13 Colgate-P-P 1l°e). 102% Colgate P-P pf (6). 39% Collins & Alk (2)_.. 107% Collins & Aik of (7) 8% Colonial Beacon ... 3% Colo Fuel & Ir (d) _ 24 Colo F & 1 pf (&) 21% Colo & South . 14 Columb G&B(a20c) 90% Col G & E pf A (6) 31 Colum Plet vte(t1). 44 Comcl Credit (3)__ 100% Comel Cred pf 4% n 110 Comel Cred ot (6% ) 55 Comel Inv Tr 13.60. 97 Comel In T pf(4%) 14% Comel Solv (8ve) . 2% Comw & Southern_.. 59% Comw & Sou of (3). 7 Conde Nast Pub .. 82% Congoleum-N L60.. By Private Wire Direst to The St +++F+++ " Boma— s Fitb B = ) 'S YRR S-S0\ - R 3 P00 S e el SedaSeE - e FRELLT 1+ + ++++++1+14+++ * ESELESR & » ¥ P d - s BT I E TP TORE PRt N - - Upeav Sy S EEFEESEE o ~o 11+t ++4+0104+14+ +) EFEEF E 558 214 6% — 6% — 30 8% + % 35 +3% 4 116% + % 17% + % 79% T9% — % 35% 34% 35% + % 341 34 3¢ - % 54 53 531 +14 107 106% 107 — % % % = (o=t EYNT 25 21 10s 308 1 208 : 108 32 32% +1 % 20% 20% + % ik 106 106 106 + % 11 39 37 38% +1% 17 68% 68% 68% + % 7 103% 103 103% + % 1123% 123% 138% 31 T8k TT% TT% + % 3 116% 116% 116% + % B —% 3% 3% 8% 8% +1% 8% 8% + W THE EVENING STAR, WASHINGTON, Prev. 1936 Stock and High. Low. _ Dividend Rate. 13% 8 Consol Clgar - 72% Con C pr pf ww 634 65% Consol Cigar ot (7). 27% Consol Edis N ¥(1). 4% Consol Film . _ 15% Consol Film pf ($1] 3% Consol l.aundries.. 11% Consol Ol (60c) ... 106% 101 Consol Oil pf (5) .. 11% 67 Consol R R Cuba pf. 1% % Consol Textile (4) 4% 2 ConsCoal (Del) vtc 20'% 12% Con C'l (Del) vte pt 26Y% 15% Container Corp (1) 19% 10% Cont) Baking (A).. 2% 1% Cont! Baking (B)_- 71% 67% Contl Baking pf (4) 87% 67% ContlCan (3) . __. 24% 17! Cont’l Diam Fib(2). 85'5 Cont) Lnsur (1.20). 214 Contl Motors 2814°Cont) O11 of Del(1) 27 Contl Steel Corp(2) 55% Corn Ex Bk&TT (3) 6813 Corn Prod Ret (3).. 4 Coty Inc 35 Cream of Wh (2 15% Crosley Rad(a50 43% Crown C& S (1) . 7% Crown Zelleb'k vte. 28 Crucible Stee) 95'2 Crucible Stl pf (2!) 1% CubaCo . 10'x Cuba R R pf 6'x Cuban-Am Sugar. 35'% Cudahy Pkg (2%).. 167 Curtis Publisning... 9915 Curtis Pub pf (7). 4 Curtiss Wright __. 10 Curtiss Wright A __ 36'% Cushman Sons pf__ 434 Cutler-Ham (1) .. 7% Davega Stores t30c. 52 Deers & Co 191 Detsel-Wem-G t50c 36% Delaware & Hudson 147 Del Lack & West __ 4% Den&R10GW pf (4) 128 Det Edison (14)_ 42 Devoe&Rey(A) (2). 4 Diamond Mteh 1% Dia Match pf(11%) 184 Dist Corp Sear Ltd. Dixie Vortex A Dome Miges ¢12) _ « Dominien Stores___ 50% Douglass Afr. * 21y Douglas Afr. Aug3 29 Dresser A (bl3%).__. % Duluth SS & Atl___ 47 Dunhill Internat’l _ Dupont de N 3.60 _ 129 Du Pont deb (6) 5!3 Eastern Roll Mills.. Eastman Kod (16) '; Eaton Mfg (2) - 5% Eitington-Schid_ 30% Elec Auto L (1.20)_ 110% Elec Auto L pf (7). 10 Electric Boat 5'; Elec&Mus In(b2éc) 6y Elec Pw @ Lt . __ 29'; Elec Pw & Lt $6 pf_ 42% Elec Stor Bat (12) ndicott-Joh pf (5) gineers Pub Sve 208 208 133 8 15 67 4I’ 16 Erie R R 1st pt 11% Erfe R R 24 of 12 Eureka Vac C(80c). 2315 Evans Products (1) 4* Exchange Buffet___ 815 Fairbanks Co pf 243, Fairbanks-Morse__ 31% Fajardo Sugar (2). % Federal Mot T 40c . 3 Fed Screw Works _ 2'3 Fed Water Sve (A). 20'; Fed'd Dept Stra(1). 38 Fid Phoe F 1(11.20) 247« Firestone T&R 1.20 1001, Firestone of A (6)_ 40 First Nat Strs(23%) 4's Follansbee Bros (d) 32 Food Machine (1) .. 4\ Foster- Wheeler 95% Foster-Wheeler pf 30, Fou'h NI wwal.ds. 23% Freeport-Texas (1) 313 Fuller Co 2d of. 3% Gabriel Co (A) 11'% Gamewell Co 8!3 Gen Am Investors 42Y% Gen Am Trans(1%) 21 Gen Asphalt(b25c). 10% Gen Baking (60c) 141 Gen Baking pf (8) 5% Gen Cable . ____. 17 Gen Cable (A) 70'; Gen Cable pf __ = Gen Hlectrie ( s Gen Foods (1.80) .. a Gen Gas & B (A) 14 Gen G&E 6%cv DfA 59% Gen Mills (3) 537x Gen Motors (13) _ 118 Gen Motors of (5) . 5% Gen Outdoor Adv __ 18% Gen Outdoor Adv A. 3'2 Gen Public Service 2 Gen Ry Signal (1) Gen Realty & Util . 3215 Gen Stl Casting pf 17 Gen Theatre Equip. 30% Gen Time Instr'm’t 13% Gillette Saf Raz(1). 74 Gillette S R of (5) 6% Gimbe) Bros 393, Glidden Co (2) 52'; Glidden cv pf (412). (Gobel tAdolf) Goebel Brw C(t20c) 12% Gold Dust vtc (60c) 13% Goodrich (B F) = 78 Goodrich (B F) pt. 21% Goodyear T&R - 87 Goodyear $7 pf (4)_ 813 Gotham Silk Hose 77 Gotha Silk H pf(7)_ 2 Graham-Faize 1% Granby C (24 stpd) 3t Grand Union ctfs 16 Grand Un pf $62%c 25 Granite City Stl (1) 2815 Grant (W T) (1.40). 321 Grt Northern pf._ 16 Grt North'> Ore(1). 31 Grt West Sug (2.40) 22 Green(HL)Co (+1) 48% Greyhound C'p 3.20 9% Gulf Moblle& N._ . 3015 Gulf Mobile & N pf_ 28% Gulf States Steel_ 113 6 Hall W F Printing 14 Hamilton Watch 119 109 Hamilt'n W pf $83%. 41% 30% Harbison Walk(t1) 16% 12 Hat Corpof Am(A) 9 4% Hayes Body 133 1074 Hazel Atlas GI (15). 141 117 Helme (G H) (15)__ 35% 25% Hercules Motor (1) 447% 30% Holland Furnace 112% 108 Holland Furn pf (5) 18 9 Holland & Son (50c) 37 19% Holly Sugar (2) . _ 33 22y Houd-Hers (B)1% 61% 54% House Fin (A) (13) 12% 6% Houston Ol vtc .. 57% 48% Howe Sound (13) 3% Hudson & Manhat. 8% Hudson & Man pf__. 13% Hudson Motor €ar.. 1 Hupp Motors . 18% [1linots Central 30 Illinois Cent pf (A). 58 Il Cent Ise lines(4) 34% 25% Indus Rayon (1.68) 147 106 Ingersoll-Rand(+2) 114% 88% inland Steel (3)___. 13% 6% Inspiration Copper. 18% 11% Interboro R T (d). 5% 2% Intercontl Rubber. 15% 9% Interlake lron _.__. 5% 2% Int Agricultural. . 41 22% [nt Agricu) prpf__. 185% 160 Int Bus Mach (16)_. 49% 35% Int Cement (1%§) ... 90% 56% Int Harvester 1.20_. 5% 2% Int Hydro Elec (A). 8 4% Int Merch Marine - 54% 43% Int Nickel(Can)1.20 T% 3% Int Paper & Pw(A). 4 2% Int Paper & Pw(B). 40% 41% 29% 53% 23% 67 19% 21% 101% 22% 3 23 IntSalt 1%)caaua. 47% Int Shoe m).___ 156 IntSilver. o 50 Int Silver pfoeeee.. 12% [nt Tel & Tel. ... 10% [nterstate Dept Str. 82 Int Dept Strspf(7). 15 Intertype Corp (1). 24% Island Creek (2)_.. 581 Jewel Tea (14)._. 9 88 Johns-Manville(2). )a uau 75% Jones&Lauzh7%pf 3408 40 Kalamazoo Stove(lix 13 KansCity Southers 19% Kans City South pf. 17 Kaufman Dep 8 (1) 264 Kayser(J)& Coa76e 80 Keith-Al-O pfad’_ 20 Keisey-Hayes (A). 18 Kelsey-Hayes (B). 14% Kelvinator (150¢) .. 28% Kennecott C (1.20)_ 17% Keystone StI&W (2) 30 Kinney (G R) pf .. 4% Kresge Dept Stré... u% 12 40% 5 13 105% 16 T 368, 291, 1008 Aua 00, High. Low. clou Chge. 9 9 9 111% % T9% 41% 22% 39 23% 20% 20 42 20% 33 FHEFLL00 Net #3rioves AR FOEFEF FF +1 5 ¥ L + + i =1 FESE FEEREFE Prn 1936 Low. Y 20% Kresge (S8) (1)__ 2 D. C., Stock ana Dividend Rate. 1;0% 101% Kresge (S S) pf(7). % 43 104% 36 49 122% 48% 113 130 49% 24% 118 133% 1% 80 9% 19% Kroger G&B (1.60). 20%; Laclede Gas (St L) 32 Laclede Gas St L pf. 19% Lampert Co (2) __ 12 Lee Rub&Tire (60c) 15% Leh Por Cmt(a25¢) 2 Lehigh Valley Coal. 9% Lehigh Val Coal pf. 815 Lehigh Valley R R_ 89 Lehman Corp (13)._. 12 Iehn & Fink (1%) 87% Lerner Stores (2)__ 47% Libbey-Owens G(2) 7 Libby McNetll & 25 Life Saver (1.60)_ 978 Ligg&Myers B(14)_ 19 Lilv Tullp Cup(1%) 25% Lima Locomotive.. 36 Link Belt (11.20)_ 3215 Liquid Carb (1.60. Loew's Inc (12) Loew’'s Inc pf(63%5). 2 Loft Inc & 3% Long Bell Lum (Al 40% Loose-Wiles (2) 21t Lorillard (P)(1.20) 13 La Ofl Ret pf (4) 20 Louisv GEEDTA 1% 574 Lou & Nash (a4z) 22% Ludlum Steel (1)__. MacAnd & For (2)_. McCall Corp (2) ... McCrory Stores. Mcintyre Porcu McKeesp't T P (t4) Mack Truck (1) Macy (R H) Co (2). Madison Sq G t60c._. Magma Copper (2)_ % Manati Sug of (d) .. Mandel Bros Man Elev gtd (d) Manhat Shirt (60c) Maracaibo O11 Exp_ Marine M1dla (40¢c) Market St Ry. . . Market St Ry pr of. Marlin-Rock (12) Marshall Field & Co 'a Mathieson Alk 1% . 4 May Dept Strs (2)_. ¢ Maytag Co .. __ Mead Corp Melville Shoe (‘L,. Mengel Co Mengel Copf . Mesta Machine (3). Miam) Copper Mid-Cont Pete ad0c Mid1'd Stl Prod (1 Minn-Honey R 134 Minn-Hon R pf (6)_ '3 Minn Moline Pwr 571 Minn Moline Pwr pt *. Minn & St L (4) 2% MStP&SSMisin. 16% Mission Corp 67 50 404 5% 17% Mo Kans & Tex pf Missouri Pacific(d) s Mo Pacific pf(d) __ )'3 Mohawk Carp (1)__ Monsanto Chem (t1) Montg'y Ward(80c) s Morris&Essex(3%) Mother Lode Motor Products (2) Motor Wheel (1) « Mullins Mfz (B) Munsingwear a1l - Murrav Corp Myers(FE)&Bro t2 Nash Motors (1) ___ 21 508 19 10s 608 wofnmaan Ey e T 0 N ® S wuBeluecSve tammamw=— o Nashv Chat&StL.. 2 Nat Acm 5 Nat Aviation Nat Av'nrts Aug3 1 Biscuft (1.60) Reg (50¢) 2(1.20) v P pIA(T) t Dept Stores _ Nat Distillers (2) . at En & Stpg (2) - Nat Lead (50c) at Pwr&Lt (60c) at Ry Mex 2d pf t Steel (1%3) - 1 Supply Co Nat Supplv Co pf. Nat Tea (60c) tomas (t80¢) Neicner Bros (114) Newberry J J(1.60) Newport Industries P 5, Y Airbrake(as0c) N Y Central R R Y Chicago & St L. YChi&StLopf - \ Y Dock pf Y Investors (4 NYNH&H (@) NY NH & H pf (@) i N'Y Ontarlo & West 213 NYRyspf (d) .. 915 N ¥ Shipbuilding.. 57 N Y Shipbldg pt 9313 N ¥ Steam 18t (7)__ % North Am Aviation 23'% North Am Co (1) 523, North Am Co pf(3). 98 North Am Ed pf(6). 237 Northern Pacific__ 2 Norwalk TirekRub. 12'; Ohio Ofl (508) 24's Oliver Farm Equip- 17 Omnibus Corp vt 8 Oppenheim Collins_ 24'4 Otis Elevator (60¢c) 123 Otis Elev pf (6)_ 1244 Otis Steel 47 Outlet Co (12) 128 Owens-111 Gl 24 Owenc Il G.July 24 303 PacificG& B (1%) 475 Pacific Ltg (2.40) . 14 Pacific Mills_ 67 Packard Mot (a2bc) 1% Ps.handle Pro& R. 67 P:rafineCo (2) .. 7% Pa-amount Pictures 59 Paramount 1st pf_. 8% Paramount 24 of. 17'; Park & Tilford 2% Park Utah 40% Parke Davis(al.35) 23 Parker Rust P(1%) 4’4 Parmelee Transp't_ 6% Pathe Film Corp. 10% Patino Mines_ 11 Peerless Motor 64!3 Penick & Ford @)= 69 Penney (J C) (13).. 314 Penn Coal & Coke__. 4'; Penn Dixie Cement. 28% Penn Dixie C pf(A) 17 Penna Glassctfs . 28% Penn Rallr (@l). 30 Peoples Drug(t1) 38 Peoples Gas Chi 6413 Pere Marq pr pf 12% Pet C'p of Am a25c_ 10 Pfeiffer Brew( 25% Phelps Dodge a50e_. 45% Phila Co 6% of (3) 8114 Phila Co pf (6) new. 81 Phila Rap Tr pf(d). 1% Phila & Read C&1__ 66 Phillip Morris (1) . 38t Phillips Petrol(t1). 8 Plerce Ol pf 1% Plerce Petroleum.. 302 Pilsbury F1 (1.60)_. 7% Pitts Screw & Bolt 49 Pitts Steel pf 114 Pittston Co 11% Plymouth Oil ( 12 Poor & Co (B) 4% Porto R Am Tob(A) 1% Porto R Am Tob(B) 6% Postal Tel&C pf(d). 2% Pressed Stl Car (d). 18 Pressed Sti C pf(d) 40% Proctor&Gam(1%). 117% Proc & Gam pf (5)- 39 PubSveNJ (3.40). 103% Pub Sve N J pf (5). 113% Pub Sve N J of (6). 36% Pullman Inc (1%)- 16% Pure O11 91% Pure Oil pf (6) 103 Pure Ofl pf (8) 9% Pul'll, Blklflll 406 9% Radio 68% Radlio cu llt PL3%- Radio-Keith-Or(d). 35% Rufllnl (2). 9% Real Silk Hoslery.. 18% Rem Rand (160c) . 21 Rem-Rnd 6% pf 1%. 85% Rem-Rand pf (6)... 77 Republic Steel pf-.. 1005 2 3 13 104 21% 25% 16 201 12% 20% 2l 1% 13% 105 164 548, 631, B1y 28% 1095 20% 32 4l 3Tt 90s 1 14 1 1 133 91 1 90s 8 165 14 34 8% FRIDAY, TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE 21% 25% 44! 19 12! ‘e s % 20% 2% 1 12% 104 16 54 JULY 17, 1 “Net 19% — 12'4 20% 2% 11 128 05 16 bd% P+ ti++1+1+ (I S T S o R I O T Prev, 1036 Aaa 00. High. Low. Close.Chge. | High. Low. 24v 24% 24% + % 104 104 + % 2%+ % 25% —1% 46 +1 95 34 29 65% 58% 56% 39 35% 29% 3% 6% 12% 14% 193 Stock and Dividend Rate. 78% Repub Stl pf A (6). 2214 Reynolds Met (1) 25 Reynolds Spr'g new 591 Reynolds Tob (3) - 50 Reynolds Tob B (3) 54% Rhine Westphalia - 32 Roan Ante (b76c) . 29% Safeway Stores (2). 114% 110% Safeway Strs pf(7) 22 St Joseph Led(80c) 114 St L-San Fran (d)_. 2% St L-San Fr pf (<) 7% St L Southw'n (d) .. 37% Schenley Dist a75c_ 97% Schenley D pf (6%} 1% Schulte Retail Stra. 531 Scott Paper (1.80) . 7 Seaboard Air L (d). 30% Seab’d Oil(Del) (1). 59% Sears Roebuck (2) - 2% Second Natl Invest 61% Sec Nat Inv pf $2.90 15% Serve) Inc (60¢) . 20% Sharon Steel Hoop. 4% Sharp & Dohm 43% Sharp & D pt (3 14% Shelt Unlon O12 1213 1103 Shell Un 0t (5%)- 8% Silver King (40c) 193 Simmons C 3% Simms Petrol 19% Skelly Ol . 55 Sloss-Sheffield Stl. 6574 Sloss-Shef Stl pt. 40% Smith (AOQ) . 1213 Socony-V Ofl (40¢). 4 SoAmG & Pa2lc - 26 So Porto R Sug (2). 25 SouthCal Ed (1%).x 233 Southern Pacific *12% Southern Rallwa 19 Southern Ry pf_ 6% Spalding (AG) 101% Spang Chal pf $5% Sparks- Withington % Spear & Co 157% Sperry C vte b26c- 3 13% Splcer Mfg .. __ 63 Splegel-May-8 @ 218, Square D (B) (50¢) 14% Stand Brands(¥0c). 10 Stand Com Tobacco 5'% Stand Gas & E) d) . 94 Stand G&E $4 pf (d) 24% Stand G&E 36 pf(d) 26% Stand G&E $7 pf(d) 2 Stand Inv Corp___. 35% Stand O ef Cal (11) 323, Stand Ofl of fnd (1) 51'a Stand Oll of N.J t1. 24% Starrett (L S) 1.46. 65 Sterling Prod (3.30) 2% Sterling Secur (A)._ 814 Sterling Secur pf__ 48 Sterl Sec 18t pf (36) 16'3 Stewart Warn(60¢) 14 Stone & Webster 9in Studebaker Corp 27 Superheater (50c) 3 Superior Ol 9% Superior Steel ____. 23 Sutherl'd Paper 11 20% Swift & Co (1) 8le Swift Int] Ltd 1} Symington (d) - 5% Symington A (d, 55 Tennessee Corp 287 Texas Corp (1 33 Texas Gulf Sui (2). 28 Tezxas&PacR R s Tex Pac C & O a25c. 9% Tex Pac Land Trust 337 Thatcher (1) .. 59 Thatcher pf (3.60)_. 83 Thermotd Co . 8t Thomp'n(JR) (50¢c) % Thompson P alle. 4's Thompson Starrett. 26 Thompson Star pf_. 14% Tide Wat Asso 60c_ 51 12'3 Timken-Detroft .. 56 Timken R B (12) _ 11 Transamerica f40c_ 1472 Trans & Westn Alr. 10% Transue & W1ll 60c. 7' Tri-Cont Corp 7's Truscon Steel . 22'3 20th Cent Fox Film 313 20th Cen Fox pf 1% &% TwinCity RT_____ 2°x Ulen & Co - 4% Und-Ell-Fish (3) .. 38's Union Bag&Pap (2) % Un Carb&Carb 2.40 207 Unton O11 of Cal (1) x 108'; Union Pacific (6) .- Unton Pacific pf (4 22% Un Tank Car (1.20) 209 United Afreraft ___ United Alr Lines vtc s United Bisc (1.60) 68 United Carbon 2.40 5% United Corp 40'¢ United Corp pf(3) 103 United Drug 15 United Dyweod (al) 4 United Elec Coal._ 664 United Fruit (3)_ 143 United Gas Lmp ( 6's United Paperb'd(d) 13 U S & For'n Secur. 24% U S Freight (1) 2 80'3 US Gypsum (2)_ 1691 15% 1328 T 81 5 1615 3k 7 2%, 126 30% 9% FRFERFEF FF cash payments based 2% 46% 160 U S Gypaum pf (1) 87 U S Hoffman 1S Hoff rts__Aug 3 8313 U S Ind Aleohol (1) 6% U S Leather vte____ 10% U S Leather(A)vte_ 71 US Leath pr pf vtc. 21'; USPipe & F (1%)- % U S Realty & [mp__ 16 U 8 Rubber_ - 47 U S Rubber 1stpf_. 78 USSm & Ref (a3) ., 68'¢ US Sm&R pf (3%) U S Steel . 115'; U S Steel pf (2) - 5 United Stores (A) 673 United Stores pf 33 57% Unlv Leaf Teb (13) 153 Univ Leaf T pf (8)_ 1 Univ Pipe&Rad (d). 3% Utll Pwr & Lt (A) . 1 Vadsco Sales Corp.. 18% Vanadium Corp. 32 Va-Car Chem 6% of 1 & Pwr pf (6) 114'; Virginia Ry of (6)_. 2% Wabash (d). 5 Wabash pf A 9% Waldorf Syst (80¢). 26'% Walker (H) (2) 5% Walworth Ce.__ 10°s Ward Baking (A).. 2'» Ward Baking (B) .. 47% Ward Baking pf(3). 9% Warner Bros Plo. 4% Warren Bros 19% Waukesha M(160¢) 14 Wells Fargo. 33% Wesson O&S(150c). 78 Wesson O&S pf (4) s 91% West Pa Elec (7)A 96 West Pa Eiec pf(7) x 10s 107% 8% Western Maryland. 15 Western Md 2d pf-. 2 Western Pacific 5% Western Pacific pf_ 72% West Union (a2)._. 34% West'gh'se A B (1). 94% Westingh'se El (4) - 19% Westvaco Chlo t40¢ 21% Wheeling Steel 18% White Motor __ 13% White Rk M 8(1.40) 3% White Sewing Mch. 16 White Sew Mch pf.. 2% Wilcox Ofl & Gas._.. 6% Wilson & Co (50¢) - 70 Wilson & Co pt (6)- 44% Woolworth (2.40) . 23% Worthington Pump 208 2 208 111% Tide Water Ofl (2). 110s Sales— Add 00. High. Low. Close.Chse. 86 +1% 1 17 11 86 26% 30 6015 29 65% 1 13% 1 3T% 32 36 2215 4 2% 5 4% s 10% 59y 99% 1% 60s 3 112 14 8 20 374 18! 34% % 603 110 @ T 2 10% 208 21% 1014 21% 25, 1% Sl 61ia 8o 14 16 547 1% 10% 4 194 4215 9414 23 lfll 97 27 265 208 161\' Tia 5 1l 20°a 4% 475 5 34 108 1144 i 1257 12 145 328, 201 3 75 11 R 23% 1l 10 384% 1 81 103 107% 22 10 1 17% 1 2% i 1 38 0% 18 424 29 135 2\)11 146 14 56 Worth Pump pf(A) 400s 47 Worth Pump pf(B) 625 Wright Aero 66 Wrigley. W ir (13). x 33% Yale & Towne (60¢) 8% Yellow Truck. . - 831 Yellow Truck pt.. 42% Young Sp & W (3) 41% Youngstn Sheet & T 118% 105 Youngs S&T pf 34% 11% Zenith Radio.. 5% Zonite Products. 400 000 980,000 2 Total Sales for the % dtdunllm of trading % | mot iy catra. or beln: reorganized. 123 42 68% 67% 2115 114 35 31% 29% 7 6% 6% :0 Noon.. day. LB&OOW FINANCIAL. 26 295 + 60's * % 110 T3 104 7 181a 6% 5i% 28 +1% v 1 16 547 18 ¢|Hl|l1vlly 108, dle 80's 421, 943, 23% 1344 9 27% 26% 103 1073, I+++41+001010 SREPETEEELITEF FEEPS 115 +l 81% +2 6% — WWISMMMN.!.SMM T 740,000 1.180.000 Dividend rates as given in the above table are the annual | g54.144.30: on the latest auarterly or h:u-nulr less than 100 shares. tAnnual rates— IAccumulated dividends. a Paid this ivership b Paid tast year _d Companies reported in recel idend. xEx divi Experienced Advertisers Prefgr The Star TUI 44410+ 1 +++4++ STOCKS CONTINUE ‘STEADY ADVANCES «|New Recovery Peaks Are Reached in Trading. Close Is Firm. Stock Averages 15 10 Indus. Net change. — .“]‘1 Today, close. 88.8 Prev. day___ £9.0 Month ago. 85.0 Year ago... 62.7 89.0 3.4 18 80 Otil. Stks -1 =1 381 380 36.0 241 39.7 302 312 185 216 5 8.7 239 16 1929 high...146.9 153.9 184.3 157.7 1927 low.... 51.6 953 618 61.8 515 51.6 484 326 516 434 447 66.7 66.8 63.5 (Comptled by the Assoclated Press.) BY VICTOR EUBANK, Associated Press Financial Writer. | NEW YORK, July 17.—The stock « | market beat a trail to new recover: peaks today, many issues pushing up fractions to 2 or more points. Highly pleasing business and indu:- trial news, generally, spurred buyer While there were profit-taking inter- vals, especially in the last half ho the close was firm. Transfers approx- | imated 1,600,000 shares, ! Auto Leaders to Fore. Automobile leaders came to the fore for a while. but fell back later when Cram’s estimated automobile produc- tion this week at more than 6,000 uni' » | below last week's figures. The rece:- {sion in output, however, was in ln | with expectations. 1. | Sugars and oils ceveloped strengtr 1a| with the technical position of the % | two industries continuing to displ; pmuch improvement. Ameraca spurted laboul 7 points. Rails led the list most of the da .A"bu( steels, coppers, rubbers, aircr w | and specialtles were in the forward trek Popular Shares. Among the popular shares were » | those of Chesapeake Corp., Southermn 1, | Railway preterred, Union Pacific, s | Louisville & Nashville, Standard Ol of | | New Jersey, Zenith Radio, Spicer [Manuracmrmg. Kennecott, Anaconda, L‘ | Magma Copper, Douglas Aircraft, Boeing, United States Sieel, Bethle- hem, Inland Steel, Midland Steel | Products, Bendix, Goodyear. Firestone, 1» | Greyhound. Auburn, Worthington Pump. International Cement, Holly % | Sugar, Fajardo Sugar. Philip Morris, | Schenley, Du Pont. Air Reduction and % | Houdaille-Hershey. The utilities showed little vitality throughout, and such farm implement | issues as Deere, J. 1. Case, Interna- ' |tional Harvester and Oliver Farm " were weak as a new heat wave swepL over the corn districts. ‘ Bonds were a bit irregular, as were 1| foreign currencies. Corn at Chicago » | was up the limit of 4 cents a bushel % | for a time, but finished with net ad- % vances of 2 to 37x cents. Wheat ,\_;ns down 3 to 1's. Cotton was | neavy. CHICAGO GRAIN By the Associated Press. CHICAGO. July 17.—Excited by {cornu belt temperatures of 114 in soce sections and by persistent wide- spread lack of moisture, corn prices today again and again hit topmost permissable limits. Big scale buying of corn was fur- ther stimulated bec ause of forecasts 4 | of continued heat and dearth of im- portant rainfall throughout most of the corn-producing region With traders generally concentrat- ing on the corn market, wheat prices drooped after an early advance, and | toward the last wheat was showing ', | general losses. | Corn closed flurried, 2%-37¢ above | yesterday's finish, July, 9224, Septem- 1¢ | ber, 89%,-8975; December, 8334-83 .: Wheat, 35-11, down, September, 105 105'%; December, 106-106's; oats, varying from % decline to 's advance and provisions unchanged to a raise of 22 cents. WHEAT—_ Open 3 308 < 3 10702 az ansa R47 AR 401 Chicago Grain Market. CHICAGO. July 17 (#).—Cash wheat, No, 1, hard, 1.14a15; No. 2. rec. 1.09a9%2: No. 4, red, 1.07; No. 1, hard, 1.123,a14; No. 2, hard, 1.12a13!4: No 3, hard, 1.11; No. 1. red, garlicky, 1.07; No. 3, red, garlicky, 1.06a7; No. I, mixed, 1.10'4a12'4; No. 2, mixed, 1.091 1113 No. 1, red, smutty. 1.06%; corn, No. 2, mixed, 944, lake billing; No. 1, yellow, 95; No. 2, yellow, 9415a95; No. 2, yelow, lake billing, 9334; No. 3, vel- low. 94: No. 2, white, 1.03';; sample grade, 83: oats, No. 1, mixed, bright, 407;a41; No. 1, white, 40':; No. 2, white, 40'4a's: No. 3, white, 38'.a 3915 No. 4. white, 37'4a38'4; sample grade, 343;: no rye; soy beans, No. 2, yellow, 1.28!5; barley feed, 55a65, nominal; malting, 70a1.02, nomir timothy seed. 6.00a35 hundredweigh! clover seed, 12.25a17.25 hundredweight. FEE IPE > Liverpool Wheat Prices. L 0O0L, July 17 «P.—Whea: futures closed firm. Low ‘l!:\ 5% Exchange. 6.02%. BALTIMORE. July 17 (#.—Wpeat. No, 2_red Winter, garlicky, spot estic, oeve: July, 98l ik U.s. TREASUBY POSX;I'ION. By the Assocleted Press. The position of the Tr Becaipts, | $60.845.310.61; expenditures. 15.1 balamce $2.424.0: \mnmu “recelpts for the moath. $18.- % ember 1 rm'm sury July 15: % gross 17473 2 ‘decrease of $4.008 03125, under ihe Dravius dav: soid assets. $10.0%0.- 710.03 luunpu for July 171935 (comparable date last year). $70.452.364.50: e ndi- tures lfll 008,223.69; net bal 910.755.803.91: cunom.l receints (er th! month $14.919 548.08 1pts o3 ear $172.830.- 35 8 sold assets. $9.1%7.3