Evening Star Newspaper, September 9, 1936, Page 17

- FINANCIAL., " SPECIALTIES GAIN - ON UNEVEN CURB Score Rise of Fractions to 3 Points or So as Others Decline. By the Assoclated Press. NEW YORK, September 9.—Spe- clalties moved forward fractions to 3 points or so in an irregular Curb market today. Gainers included American Cya- namid “B,” Angostura Wupperman, Pittsburgh Plate Glass, Sherwin Wil- liams, Wayne Pump, Marion Steam Bhovel and Quaker Oats, Down fractions to a point or so were Aluminum Co. of America, American Light & Traction, Pantepec ©il and South Pen Oil. MLELLAN PLANS NEW STORE CHAIN Beven Units in Georgia, Alabama ~ Purchased—Five in Ten- nessee Under Option. By the Assoctated Press. NEW YORK, September 8.—W. W. McLellan, former president and founder of the McLellan Stores Co., announced today he is forming a new chain of 5-cent to $1 stores in the Bouth. He is purchasing seven units in Georgia and Alabama and has ob- tained an option on five additional stores in Tennessee. He declined to say in what towns the stores were. The new venture, which is to be known as the W. W. Mac Co,, has an authorized capitalization of more than $1,000,000, representing 40,000 pre- ferred shares and 80,000 common. About $250,000 of the preferred will be sold privately at $25 a share, he said. McLellan resigned as head of the McLellan Stores Co. August 27, after having been identified with it since 1916. Also associated with McLellan are P. M. McNiven and C. H. Wright, formerly associated with the McLellan chain. CURB BONDS DOMESTIC BONDS. High. Low. 1pm. K1 2 10672 10612 1047 10413 10413 g 8 Bt 5 2 >‘O>U"=n>1!70 1053 10 21033 uuu mi-“. 10011 % 10234 01a 061 !mm 1063, l..,. Qs AR A QL Brrag ) 2oy et Q0" aa, Eft 553 ArmPI” Bz 5 EEES 5 (R SR RS20mow - (o i '> 5D SwS 0D w: 8213 B 523 B s ST S g S ool o 55 #, 2350 RRREE SRER . 32325285 FPSSEFERRE, EREE ® SRAE IS SR O S oy 2 9,10 b s e aawi 33333 FEF FEE u;_ P @ 198 3 -~ >o- O ey wamg DD =3399 33532 T Bama F82.5353 323393333032333 FORRSSE - 2% —With i rnnu xw—Without wi :" e i—When issued. Gt —au-&u jegotiability impaired by maturity, e panies yeporied in Teceiveranip. NEW YORK BAR SILVER. NEW YORK, September 9 (#).—Bar sllver steady and unchanged at 44%. L8 A 5 NEW YORK CURB MARKET By Private Wire Direct to The Star. -n Sales— te. Add 00. High. Low. Close. Adnn- umu 1st £ (7 - 108 108 108 108 Am Bupply ®. 1 3% 3% Afr Inv Inc ev pf. 12 9 29 AlaGr'tSouall.326s 67 66 66)§ Allen Indus (11).. 9 263§ 2564 26}4 Alum’n Co of Am.200s 129 128 128 AlumnLtd....... 8 66 66 66 AmCP&L 6% €4 6l AmCynam B 6o 70 3¢ 88 lm Am&ForPwww. 5 38 3 AmGEE (1.40) . 5 43 424 a Am G&E pf (6)-..276s 111% nm ulu AmGenCorp ... & 9K Am Gen C'p pf(2). 60s 34 Am Laun Mch 60c 26} 8% ll 1 Am Lt&Tr (1.20). 1 AmL&T DL (1%). 8 Am Mfg Co__ 268 Am Maracaib 7 Am Superpower__ 21 Am Superpwr pf.. 3 Anchor Post (d).. 1 Angostura (20c).. 2 Appalachian Eleo Pwr pf (7) Arcturus Radio T. Ark Nat G Ark Nat Gas cu pf Ark Nat Gas (A).. Art Met Wks60c.. 8 As30 G & Elec_. 1 Ass0G&E (A) As50G & E $5 pf_. Assoc Invest 11%. m- Asso Rayon Atl Coast Fish: At Corp (a80e). Atlas Corp war... AtlasCpf A (3)-- Atlas Plywd a50c. Austin Silver____. Auto Eroducts Auto Vot M(t50¢). Baldw L bd rts(d) Bauman (L) 7% 1st pf. Bellanca = Berkey & Gay Furniture Co. Bickfords Inc (1)- Black & Decker . Bliss Co (EW) Blue Ridge Callc Blue Ridge cv pt 3 Blumenthal S - Bohack HC 1st pf. Bower Roller Bearing (al%)- Bowm'n-Biltmore Hotels 1st pf__. Bridgep't Mach Brill Corp (A)- Brill Corp (B)., 3 Brill Corp pf. 8508 Brillo Mfg (60c)_. 1 British-Am O11 reg (80c) _____. British Celanese Ltd rets . 1 Brown F&WB 120 4 Brown Forman 2 Buckeye P L (3) 1008 Buffalo Niag & B P pf (1.60) Burco Inc Butler Bros Can Car & Fdry puoo- Can Marconi - Carib Syndicat | Carnation Co (1)-. | Carrter Corp - | Casco Produets. 18% 1044 1025 8534 2% 2% Catalin Corp - Celanese 1st pf(7) 1501 Central Pwr & Lt 7% pf (3%).--. b8 Cent &S W Util.. 15 ent States Elec_. 10 Cent States Elec conv pf (new) 268 214 Central States Electric 7% pf- 1008 51 Chi Flex Shaft 12.1100s 53} Cities Service City Aut Stpg 60c. Clev Tractor .- Club Aluminum__. Colts PFA (1%)- Columbia Gas & Elev cv pf (5) Columb O11 & G: Com'with Ea (4) . Com'with & S war Community PL 1st pf___. Communit Wat S_ Compo Shoe Mach s t c(50¢c). Consol Gas of Balto (3.60)__.. & Consol M & S (2).126s Cont Roll & Steel Foundry__. §0s Cooper Bessemer.. Cooper Bess pf A. Cord Corp__ - Cosden Oil Me () Cosden&Me pf (d) Courtaulds Ltd (a35 2-5¢) - Crane & Co Creole Pet (a25c). Crocker Wheeler... Croft Brewing __. Crown Cent Pet._ Crown Drug a20c- Crystal Oil Ref. Cuban Tob vte Cuneo Press (2)-- Curtis Mfg Co (Mo) (a50c) 1508 Cusi Mex Mining.. Darby Petr (50¢). Dayton Rub (1) - Dayton Rub A $1._. Detroit Gray Iron Foundry (20¢c)-. Det Pap Prod t250 Det Steel P(a25¢). Dictograph(a15c) Distillers a45 4-5¢. Doehler Die- Casting (a50c) - Dow Chem (2.40). Driver Harris(1)- Dubelier Condens. Duval Tex Sulph_ Eagle Pitch L 40c. East'n G&F Asso_ East'n Gas & Fuel prior pf (4%) . Eastn Sta Pw (A). Easy Washing Mach (B) t50e Eisler Elec Corp. Elec Bond&Share. ElecB&S pf (5)- Elec Bd&Sh pf(6) & El Pwr Associates & El Pwr Asso (A)_ 10 Emp Dis Elec pf__100s Equity Corp ... Evans Wall Lead.. Ex-Cello Airalsec. Fairchild Av new.. Falstaff Brewery. Fanny Farmer Candy (50¢) . Ferro-Enam (al). Fidelio Brewery . Fire A of Phil (2).. lBO Fisk Rubber Fisk Rubber pf. FlaP&Lopof __150s Ford Motor Ltd (18 1-10c.._.. 26 Ford Motor (Can) A (a76¢). 8 Froedtert Gr & M conv pf (1.20) 1008 Gen Firep'f (40c) 1 Gen Pub Sve pf 16 Mt 84 Gen Rayon Ltd A. Gen Tele a50c Gen Tire & Rub. Georgla Pw pt (6) Glen Alden C (1) Godchaux Sug(B) Great Atl & Pac ‘Tea n-v (16 Great Atl & P: Tea 1st pf (7). Gulf Of1 (1) Hall Lamp (l!Oe) Hartman Tobacco. Harvard Brewery Hazeltine (3) ... Hecla Min (60¢) .. Heyden Chem(t1) Hollinger Consol Gold M Ltd té5c. Horn & Hardpf(7) Hudson BM&S (1) Humble Oil (1) Hygrade Food .. Huyler's of Del__. Il Pw&Lt 36 pf_.. 8500 8835 &7% o8 1 o 173 12% “® K 1% 18% 16 T UM 1 1% 10s 111 111 11 1 3 Tayior Dist (bse). 6 Technicolor ine.. 9 THE EVENING STAR, WASHINGTON, !ucuua sales— ividend Rate, Add 00. [nw Of1 Ltd coupon (1500) ... Imp Oil Ltd reg (4500) . ______ Imp Tob (Can) Ind Pipe Lin Ins Co of N Am (2) int] Hydro Elec Systemevof .. 3 Intl Metals Inc A_200s int Mining (60¢).. 1 Intl Mining war_. 1 Intl Petro (t1%)_ 14 Intl Products._. 1 Intl Util (B) _ 2 Intl Vitamin t40¢ [] Interstate Hos(2) & Interstate Power (Del) pf . 1008 Inv Royalty (3¢c). 2 lron Fireman (1). 2008 Jacobs(F L)Co(1) Jersey Cent P& L 5% % pt .. Jonas & Naum _ Jones &Laugh St Kans City P S vte. Kingst'n Prallc.. Kirbv Pet (20c) .. Kleinert Co(t20c). Knott Corp(alle). Kreuger Brew (1) Lake Shore M (4). Lefcourt Realty. Lehigh C&N (30c: Leonard Oil Lone-Star Gas 40¢c Long Island Light Long IsLtpf A 7. lia Land (40c) _. Lynch Corp (2) _ McCord Rad (B) MeWms Dredg (4 Mangel Stores _ ... Marion Steam Sh. Masonite Corp 12 Massey Harris __ Master Elec (60c). Mercantile Stores. Merritt Chap & S Mich Bumper C'p. Mich Gas & Ol Middle States Petrol vte (A) .. Middle States Petrol vte (B) Midl'd Stl Prod(2) Midvale Co (a2) __ Mock Jud Voe (1). Mohawk Hudson 1stpf (4) ... __ T6s Mohawk H 2d pf.. 58s Molybdenum Corp 6 Mont Ward A (7).130s Moody's Inv Sve vart pf (3) ___ 26s Moore Dist (t50¢) 6 Mount Prod (60c) 11 Mueller Brass 80c. 1 I LTy 2 efmo » | Nat Auto Fib(t1). 1 E1Y 1 Nat Cont pf (2) __ 50s Nat Fuel Gas (1)- 1 2 Nat P & Lt pf (6) 2008 | Nat Oil Pr (11.20). 2 Nat Rubber Mach 9 NatSugarNJ (2) 5 Nat Transit (75c). 5 Nat Unton Radio. 27 Nehi Corp NJ Zing (12) .. Cal El pf(37) 608 Mex&Ariz Ld N Y Steam_______ N Y Tel pf (6%) N Y Transit (30¢c). Niag Hud Pwr __ Niag Sh MdB al0c Niles-B-P (a50c) . Nipissing (ale)_. Noma Elec (a40c) North Am L&P._. North AmL&P pf 1608 North'n Europ Oll & North'n Ind Pub Sve 6% pf (3) - North Pipe L(30c) Nor States Pwr A N W Eng (a25¢).. Novadel Ag (2)-—- Ohto Brass(B) (1) 100s Oldetyme Distil__. QOkla Nat Gas Co. Okla Nat Gas pf__ Outboard Mot (A) Outboard Mot (B) Overseas S (ailc). Pacific Eastern_.. Pacific G & E 1stpf (1%) ___ Pac Tin spec (12) Pan-Am Alr (1) . Pantepec Ol .____ Pender G (A) (3%) 608 Pennroad (b20c)-. 209 Penn P& L (6) Penn P& L (7) Pepperell Mfg Phila Co (80c)__ : Phillips Packing_. 2 Phoenix Secur___. 17 Phoenix Sec pfA3 1 Pie Bakeries(60c). 14 Plerce Gov (alsc) 1 Ploneer Gold Mines Ld (80¢c) Pitney Bowes 40c. : Pittsb’gh Forging. Pitts& LE t2% Pittsb’gh P G(12). Pleas Val Wine_.. 1 Potrero Sugar._.. 22 Powdrl & Alx60c. 6 Power C'p (Can)..376s Premier Gold t12¢ 42 Pressed Met 1% _. 7 Propper McCal(d) 1 Prosperity Co (B) 3 Pub Svs Ind pr pf. 30s Puget Sound P& L pf (5)-_.126s Puget Sound Pwr & Lt $6 of. Quaker Oat. Quebec Power (1) 450 Red Bank ____ Reed R B new 18 Reiter-Foster. Reynolds Invest. Richm'd Radiator. Root Pet'm(a26c). Root Petrol'm cv prpf (1.20) . Rossia Intl Corp 1758 St Regis Paper pf. 2 Salt Creek P(80c). Schiff (The)Co (3) Scovill Mfg al l/. 450 Segal Lock & Selected lndlll — l Selected Indus allott ctfs(6%) ua- Seton Leather__ ersky Alreraf u Shattuck Den Min 11 Shawinigan Wat & Power (80c) .. High. Low. Close. 188 185 % 8% 10% 108 a0 11323 15 % L] 1534 3% Sherwin-Will (4) 1508 lll!( Sherwin-Will'ms ot new (5) ... 10s 110 Singer Mfg Ltd rcts (a28 4-5¢) .. Smith Corona vtc- So Penn Ofl(11%) Southn Calif Ed part pf (1% ). Southn Calif E4 pf(C) (1%)-—. Southn Colo Pw A. Southl'd Roy 40c.. Spencer Chain Stores (60c) ... Square D pf A 2.20 Stand Inv cum pf. Stand Oil Ky 1.40. Stand O1l O a26c... Stand Pwr& Lt_.. Stand P&L (B).. Stand Prod (a25¢) Stand Sil&Laa2c. 4 Sterchi Bros A L3 Sterchi Bros 2d pf 160s Sterl'g Brewa25c 3 Btroock & Co a75c 508 Stuts Motor Sullivan Machin 1 Sunray Oil (a5c).. 11 Sunshine Min {2). “ Swan Finch Swiss-Am Elec pf loo- Swiss O1] (120¢) .. ‘Taggart Corp . . l Tasteyeast(Del)A . T 13 95 20 4 27% 9% 3 21% 54 POUND SWEPT UP BY PARIS EVENTS " <] . s w¢|Reaches New High Since 1934 as French Leftists Seek Showdown. Bv the Associated Press. NEW YORK, September 9.—The pound sterling hurtled upward to new high ground in world markets today as demand for the British unit from 34 | continental Europe followed the clam- oring of French Leftist workers for assistance to the loyalist Spanish gov- ernment. Other foreign currencies were steady to firm in terms of the dollar, Banking quarters here said a major part of the rise of the pound to $5.061; in New York, a new high since August, 1934, was, directly traceable % | to fears that the French General Con- federation of Labor in a momentarily expected pronouncement might cham- pion the Leftist demands for aid to the Madrid government. The fed- eration, foreign dispatches said, claimed a membership of 3,500,000 workers and, with the Leftist workers already on occupational strikes, a gen- 9% | eral strike similar to that of a few months ago might be staged, it was feared. Funds Seek Safety. In other quarters it was felt the confederation would be unlikely to embarrass the Blum “popular front” government by insisting upon & ter- mination of French neutrality. Bankers in Italy and Switzerland reported a rush of Prench citizens to put their wealth in safe deposit boxes in those countries. Gold bloc currencies here were steady to slightly firmer. French francs, with control support, edged 1 .001-16 of a cent higher to 6.587g certs, while Holland guilders recov- ered .08 of a cent to 67.73 cents. Swiss francs held steady at 32.56 cents. Other Currencies Rise. New highs for the year were estab- lished by four other foreign curren- cies allied to the sterling bloc; the | Norway krone at 25.44 cents, up .03 of a cent; Sweden krona 26.11 cents, up .04 of a cent; Denmark krone 22.61 cents, up .03 of a cent and Tokio yen 29.60 cents, up .04 of a cent. In London the dollar lost 1'; cents in sympathy with the French franc, |and because oi offerings from New | York, closed at 5.06%; to the pound, compared with the overnight New | York rate of 5.05% to the pound The American unit in Paris ended at the equivalent of 6.583 cents to the franc against the New York overnight | rate of 6.584 cents. PARIS, September 9 (#).—Three per cent rentes, 65 francs 55 centimes; | 4!, per cent rentes, 68.85. Exchange on London, 176.89. dollar was quoted at 15.19. The REICHSBANK STATEMENT. BERLIN. September 9 (. —The Reichs- bank statement as of September 7 (in | thousands of reichsmarks): Notes in cir- | culation, ~ 4.386.000: _decr 7 per cent. ver cent. Rate of discount, o CHICAGO LIVE STOCK. CHICAGO, September 9 (P (United States Department of Agriculture).—Hoss, Jl 000, including 2.000 direct: slow, weak to'10 lower than Tuesday's average: Ppros- Eecu of further price decline: to 3 00d to near cholce, 170240 poun 20 desirable stly 9.7 A ' plain pigs do‘ nwnfl "om 9.00. Cattle, 13.000: calves, 1.500; lnlrl! trade: strictly ed’ steers. mostly medium-weig predominating in crop: all grade yearlings and better grade medium-weight and | welghty steers strong, -instances higher: | all Interests i markei: largely. 8.0a0-00 steer trade. with both Seartines and | weizhty steers up to 1( . latter scnlml l 6 pounds., and presen season, weights sclrce best 9. 11 cows. although ' scarce, slow. and ‘vealers fully steddy and replacement | ing str A heen Ta.opi. tcluding 5,800 direct: llt laxmn mostly steady early in- most_naties 10.00 . with top at 10.35 to small kille; good to choice Montana | rangers, 10.15; sheep and feeding lambs firm. FOREIGN EXCHANGES. NEW YORK, September 9 (.—Foreign exchange frm: Great Britain in dollars, Great Britain—Demand, Y f Italy—Demand. ¥ mands— Belgium, Tegistered. ‘iniand, uinauote ain, "5 Poland, "18.88; :' ico City. 155 flflc New Yol’k in Montreal, 0. n—Nominal —— Spang, Chalfant & Co.—Company is considering refunding its first mort- gage 55, due in 1948, of which almost callable at 104. Stocks and Sales— Dividend Rate. Add 00. Tech Hughes t40c 7 Texas Gulf Prod_. 29 Thermoid Copf 50s 73} 18% 784 Thew Shovel Coal 100s 293 2935 293 Tob Prod Ex(10c) 3 4 3% 4 Toledo Edis pf (6) 208 103% 108% 103% Trans-Lux Daylite *Pic Sn (20c) 10 4 8% Tri-Contl C w 2% 2% Tubize Chatillio 10 9l Tubize Chatl (A) 4y ‘Tung-Sol Lamp n. 8% Tung Sol Lamp 1244 14% High. Low. Close. 6 6 6 4% 45 4l 2% Df (80c) new__. Twin Coach a20c... Unlon Gas of Cana (a22%¢c). Unit Corp war__._ Unit Gas Corp Unit Gas C war___ Unit Gas pf(31%) Unit Lt & Pw (A). Unit Lt & Pw (B). Unit Lt & Pw pf _ Unit Shoe M 1234008 U S Finishing pf__ 60s U S Foil(B)(60c). & U S Radiator. 1 U S Radiator pf__ 1258 Unit Verde Ex (1) 2 Unit Wall Paper_. 30 ~a fl B 13 11634 116% M 8l 8l 61% 61 885 2% 2% (12.91 2-3¢) 2258 UtilitiesPwr & Lt 7 Util Pwr & Lt pf. 1008 Utility Eq pf(3%) 26s Utility & Induspt 2 Venezuela MexO. | 1 Venezuela Petrol. 19 Vogt Mfg Co (1) Waitt & Bond A __. Wait & Bond (B)_ Wllker Mining___ Pump W Va Coal & Coko Western Tablet & Stat’ry vte (1) Williams 0i1-0- Matic (a25c) _. Wilson-Jones (2). Wolverine Port C_ Woodley Pet(40c) Wright Harg t40c Youkon Gold n- | Po. EI ht and weighty kmd;\Wuh &os L bt an - Tkb $6,300,000 are outstanding; bonds are | C., Source of Produce Sold in Four Central Markets: During First Six Months (*New York, C| Steel Independents Follow Boost of Carnegie-Illinois By the Associated Press. CLEVELAND, September 9.—Daily Metal Trade said today, “Following the announcement by Carnegie- Tllinois Steel Corp. of prices on semi- finished and finished steel for the fourth quarter, leading independent | producers are taking similar action. “The fourth-quarter price schedules i effect an increase of $2 a ton in some | semi-finished items and a $2 increase | on bars and small shapes and hot- | rolled annealed sheets.” Washington Exchange SALES, | Riggs Bank preferred—10 at 1002. After Call. Washington Railway & Electric pre- ferred—10 at 1103, 10 at 110i3, § at 1101}, 4 at 110'5. Lincoln National Bank—2 at 203. | Merger;fluler Linotype—10 at 46, 10 at 46, Bid and Asked Prices. BONDS. PUBLIC UTILITY Amer. Tel. & Tel. 4138 Amer. Tel. & Tel cel. tr. 58 1061 Ana | C. & P. Tel. “of Va. Capital Traction R, ¥ 19 sh. Gas 5: series B Wash. Rey. & Elec 45 Chevy Chase Clul Col. Country Club 5lat W. M. Cold Storage 5s.. STOCKS. PUBLIC l]'fl’-m Amer. Tel. & Tel (®) — Qepitay Trandit Co mboat Pot !lu Pourfl" nl () llulc . Po. 512¢; f. (5 5m.) | Wash. Ry. & El Co. (36) 12 600 {Wash. Rv. & El fd (510 110 BANK AND TRUST COMPANY. jmer. Bec & Tv Co. (8)_ 208 78) 30 | Riges pfd. (5) Washinston (3) 2 ‘Wash. Loan & Tr. FIRE INSURANCE. American (! 200 Corcoran (5) Piremen's (1.60) National Union (.60) TITLE INSUMNCB Columbia (.30) __. Real Estate (68) _ MISCELLANEOUS. Carpel Corp. (1.60) __. Lanston Monotype (4) Mergenthaler Lintoype Peop. Drug S. com (l\ Peoples Dl’ul 8. Dffl Real Est. &G. of. l' Security SI.DYIIE 45 Ter. Re! & Wh. Cory Wdwd. & Loth. com. (11.50) ‘Wdwd. l( Loth. pfd. (7)-_. 1 *Ex-dividend. 18 e Cent extr “Paid May 15. 1936: 50c pald Au- gust 15. 1936. e—2 ver cent extra. —'35c Pald June 30. 1936. a—4b DQr cent !Xfl’l b—Books clos SHORT-TERM SECURITIES. (Reported by Chas. D. ""fiy & Co) Offe, Tel. & Tel. 5138 113 Afantic California Packing 5s i .» Clinfd. & O. 5s 1 7 | Michigan Cent Morris & Co. L Chi. & Pac. R M Pacific Penn-Dixie_Ct Fenng. Rdt Sests v 1830 A1 ra s;a Pac. of Calif. 5s 1“37 lf\lfi Vanadium Cm’D b5s 1041 Wabash Rwy. Co. 5‘ ”)39 Warner, Bt B3 %Y W:.stem Union Tel. 58 U. 5. TREASURY NOTES. (Reported by Chas. L, Barney & Rate—Maturity, Bid., June 15, FREIGHT LOADINGS. 1oV EW YO RE; September 0 (P.—Revenue oadings on_ railre reportin M?d:y‘ 160 Week ended September 5 ine cludet Week Previous Last gh ke & Ohio 'u?n u' Py hesapeake 3 o188 339 estern . 27 Nickel Fate 14802 it {More Than 3,000,000 Bar- | £ H H > |E 101 286-3: § 3 832 | H i eite - New Yl:rk Ce%:rd ,g-w o '-Z 3.7 s n'fl" n b ‘Prancisco --o- 15,361 15,388 ore loadings. ® WEDNESDAY, SEPTEMBER 9, 1936. ADDITIONAL GURB ON OIL FAVORED rels a Day Still Drawn From Crude Reserves. By the Associated Press. TULSA, Okla., September 9.—Their eyes on the crude oil production chart, | petroleum executives noted with only ' slight complacence today a drop of 20,000 barrels daily in the past week and agreed the flow would have to be | curtailed still further. The indicator showed more than 3,000,000 barrels daily still were be- ing drawn from crude reserves, well above the Bureau of Mines estimated demand for September. There were two distinct views of the situation. Those pessimistically inclined fore- cast the huge production, despite the Nation’s unprecedented consumption of refined products, would bring l‘ drop in crude oil prices before snow | See Nothing to Fear. ‘The other school, noting curtail- | ment already under way in response to recommendations of interstate oil compact members, saw nothing to fear in the future price structure of crude oil or gasoline. The passing of the Labor day holi- day was expected to bring a decided | slump in demand. On the other hand, surveys indicated an extraordinarily | late tourist season, with many fam- | ilies putting off yearly tours until| cooler weather. No weakness in the price of crude | was apparent, but the top-heavy stocks of gasoline on hand resulted in a further slight softening of the mar= ket as refiners sought to get the prod- uct off their hands. Drilling and leasing play, quiescent largely because of the drought for the past several weeks, showed some pick-up. Oklahoma Field Extended. Two big producers were completed in the Moore field of Cleveland County, Okla., extending the limits of the field north and south to include about a mile of new producing terri- ( tory. Another strike was made in the Crescent field of Logan County, where the Charter Oil and Gulf Oil found gusher production at 6,291 feet. | Northern Louisiana was being scanned for producing possibilities after the discovery of oil by the Ohio Oil Co. in the Travis Peak formation just below 5,500 feet in the Cotton | Valley field. The Rodessa field appeared the most active deep-drilling spot in the coun- | try, with a total of 85 wells being | drilled in the area, 39 in Louisiana and 46 on the Texas side of the pool. | Daily Average Down. NEW YORK, September 9 (#)— Daily average gross crude oil produc- tion in the United States decreased 23,500 barrels in the week ended September 5, totaling 3,008,550 bar- rels, the American Petroleum Insti- tute’s weekly summary indicates. Daily average production east of Cali- fornia decreased 35,300 barrels to 2,438,250 barrels. NEW YORK SUGAR. NEW YORK. September 9 sugar was Unchansed earls todas & nsn‘ for spot and no sales reported. ures | were auiet and price changes narrow and at 4.65 to 4.75. with & contimucd o ithdranal domend: e MONEY MARKET. YORK. September 9 M’V—CIH money steady: 1 per cent all da: rime commercial Der cent; time loans steady: 60 ‘months. 1la per cent offered: banki acceptances unchanged: rediscount rate, New York Reserve Bank. 11; per cent. SUBSTANTIAL SAVINGS LINGOLN ZEPHYR AUTOMOBILES DISPLAY CARS AND DEMONSTRATORS TO BE SOLD AT ONCE VARIETY OF COLORS Your Car in Trade at Liberal Allowance Warfield Motor Co. 1727 CONN. AVE. 3 FINANCI A T. &T. to Get About $4.500.000 From Subsidiary By the Associated Press. CHICAGO, September 9.—Directors of Western Electric Co., a manufac- | turing subsidiary of American Tele- phone & Telegraph Co., voted a divi- dend of 75 cents a share today, pay- able September 30 to stock of record September 21. Western Electric resumed dividends June 30 with a disbursement of 50 cents a share. American Telephone’s share of the | latest dividend was expected to ap-! proximate $4,500,000, market observers said. e NEW YORK BANK STOCKS | NEW YORK. September 9 (¥ .—New York Security Dealers Association: (Quotations as of 2 o'clock.) Bk of Man (11) afh nkers' Trust (2) Gen mn Bk & Tr (3 Ghase N B c‘cmmvmx ) Cont Bk & Tr (.&01 Corn Ex Bk & T (3) Empure Tr (1) Asked 3% |g ng | Mimsiacrarers T Manufacturers’ Tr pf Nati City (1) N'Y Trust (&) Tite G & T a—Includini FEDERAL LAND BANKS | NEW YORK September 9 ().—Federal | Lend Bank bonds (Quotations as of 2 o'clock.) *%xkx A—17 SALES ADVANCE TOALL-TIME PEAK Montgomery Ward Discloses Best August and Seven Months in History, BY the Assoclated Press. CHICAGO, September 9.—Mont- gomery Ward & Co. reported sales for August and for the first seven months of the current fiscal year were the largest of any corresponding periods in the company’s history. August sales totaled $27,422,133, an increase of 20.02 per cent, compared with August, 1935. Sales in July this year totaled $25,635,866. First seven months’ sales totaled $186,785,453, an increase of 19.63 per cent, compared with the correspond- ing period last year. NEW YORK, September 9 (#)— Sharp increases in August retail sales were reported by chain and depart- ment stores operating in various sec- tions of the country. F. W. Woolworth Co, P. W. Woolworth Co. reported August sales of $23,186,341, an in- crease of 7.56 per cent over the like month a year ago. For the first eight months sales of $170,814,510 were 5.36 per cent ahead of the similar period of 1935. Spiegel, May Stern. Spiegel, May Stern Co., Chicago mail order concern, had August sales of $3,169,969, the largest for that month in the company’s history and the forty-third consecutive monthly ine crease. The total was 49.2 per cent above August, 1935. Interstate Dept. Stores. Interstate Department Stores, oper- ating in eastern and western States, reported $1,792,395 sales in August, a rise of 24.2 per cent over that month last year. Sales included the com- pany’s own departments and excluded | groceries and leased departments, J. J. Newberry Co. J. J. Newberry Co., operating stores in 42 States, had an August total of $3,916,349, up 9.4 per cent over the like month a year ago. Melville Shoe Corp. Melville Shoe Corp., operating ! stores in 40 States, reported sales of | 81,708,958 for the four weeks ended | August 29, an upturn of 7 per cent over the like 1935 period. — MONTREAL SILVER. MONTREAL. September # (P —Silver Litares opened steady. 10 to 15 low Septem| T0b. " December, 44.71 March. 34.70b. b-Bid. —— FIRST TRUST LOANS Reasonable Rates and Commissions Tyler & Rutherford, Inc. 1520 K St. N.W. Loan Correspondent i Benefit Life Insurance Co. MASSACHUSETTS INVESTORS’ TRUST Prospectus Will Be Sent on Request. A. S. GotLpes & Co., INc. FOREIGN MARKETS. LONDON, September 9 (#).—Copper is- sues”scored sharp advances and featured irm st market tod: Motors and | fieel werdaleo Arm and although Hemand | for industrials was acti that group was well lunnom Gili-edeed ncunms. oils and home rails remained steady and Trans-Atlantic shares were quiet. | PARIS.—Industrial stocks closed gen- erally heavy in th railroa: h clining ¢ . Banking issues imoveq to higher xrond. and JrreRulariis prevailed in the international section Woodward Blds. Second Trust Notes We wlll buy monthly IIIIenl dmmd purchase money _secon: secured on _owner-oce Tn'DC. ahd earby Mar & Union Finance Co. 918 Woodward Bldg. NAtl. 7936 Natl. 2000. LOANS ON IMPROVE D D. C. PROPERTY Immediate attention on your appli- cation for buying, rebuilding or refinancing. Loans repayable monthly. No charge for appraisal If loan is not made. Interest charged only on unpaid balance of principal. EourrasLe Co.oPERATIVE BUILDING ASSOCIATION 915 F STREET N.W, Organised 1879 REAL ESTATE LOANS on Improved Property Monthly Payment Loans or Straight Three Year Loans S INTE % REST Consult Real Estate Department AMERICAN AND TRUST Main FIFTEENTH STREET AND SECURITY COMPANY Office PENNSYLVANIA AVENUE Branches N.w. N E MEMBER FEDERAL DEPOSIT MEMBER FEDERAL DECATUR 4300 Seventh and E Sts., w. 1140 Pifteenth St., N. W. INSURANCE CORPORATION RESERVE SYSTEM