Evening Star Newspaper, September 14, 1936, Page 20

# FINANCIAL" HANG E §T0CKS DEPRESSED: 2 AE £ Y PROFIT TAKING AL wakud T FINANBIAL! EVENING STAR, WASHINGTON, D. ¢, MONDAY, SEPTEMBER 14, 1936 ABAH[AI]P[]INISTRANSACTIONS ON THE NEW YORK STOCK EXC Prev. 1036 k and Nes igh. Low. ' nmau Rate. m 00. High. Low. Close. Chge. 17% Contl Dia Fibre(2). 4 21% 35% Contl Insur (11.20). 3 38% 2% Contl Motors._._..... 281 Contl Oil of Del (1). 27 Contl Steel (2)..._. 56% Corn Ex BK&TT (3). Prev. 1938 nou llll Nes T0 BE PROBLENS 5% 5% 118 110% Abr & Straus pr (7) 13% 9% Adams Exp (a20c). 3 17% Adams Millis(a75¢c) 22% Address’graph(1).. 58 Alr Reduction (11). Add 00. High. Low. Olose. 20s 111% 111% 111% 183% 13% 13% 21% 21% — % 26% 5% -8 " Sateway Stores (2) 29% 20% 29% lll% 110% Safeway Strspf (7) 10s 112 112 112 20% 2! 8 28% St Josepr Ld (80¢). 27% -1 3%, 2% 6%/ M Low. clou. P! . 108 103 103 108 21% Lorillard (P)(1.20) x 1 22% 22% 13 LaOfl Refpf(d)... 70s 28% 28 28 -1% 20 Louisv GEEpfA 1 2 28% 2T% 27% — % 28% 2T% 2T% - % 2% 29% % 1% St L-San Fran (d).. 2% - % 224 Ludlum Steel (1).. 8 2% St L-San Fr pt (d)- 5 5 =% 13 -y 26% — % 6% — % Fleming Stresses Impor- tance of Coming Conclave at San Francisco. BY EDWARD C. STONE. In these times with so much eco- nomic unrest throughout the world, the coming meeting of the American Bankers' Association at San Francisco ould be one of the most important many years, Robert V. Fleming, president of the organization, declared today only a few hours before he is to leave here for the Coast. Bankers all over the country appear exceed- ingly anxious to discuss these economic matters which affect all the people and the banks, he added. It appears to be a most vital time for a meeting of this kind. The attendance will be very large, the chairman of the Hotel Committee reports. This is also indicated by the fact that three special trains will be run out of Chicago to accommodate Eastern bankers. This has not oc- curred in recent years, in addition to the regular train service, and clearly reflects the importance of the coming sessions in the minds of bankers, Mr. Fleming said. The program will cover the chief 4ssues now facing the banking world. Trusts, investments, management, public relations and similar problems will be fully and ably discussed, the ‘Washington banker said. Has Busy Program. The A. B. A. by-laws require the president to give a complete account of the activities of his administra- tion. This Mr. Fleming will do. He wvill report on the highlights of the year, consider certain economic fac- tors and make suggestions pertaining to these subjects. ln addition to his annual report, he will address many of the division meetings, sit at council, committee Bnd commission meetings and also find time to drop in on other convi tion sessions. During the convention he and Mrs. Fleming will be guests of honor at a dinner given by Tom K. Smith, first vice president, and Mrs. Smith and he will be guest of honor at another dinner tendered him by the bankers of San Francisco. Other bankers said today that he has rendered particularly valuable service to the A. B. A. during the last year by keeping the association out of politics. He has steadily main- tained that politics and banking do not mix and that the A. B. A. is not & political organization. At the same time he has met with rare success in @ealing with Government officials. Railroads Making the Grade. “The railways are slowly but surely making the grade,” says the Railway Age. “They reported an increase in net operating income of 130 per cent in July. This is in a sense misleading, because their financial results in July, 1935, with which comparison is made in published reports, were relatively the worst in any month since April, 1933, while in July, 1936, they were relatively the best in any month, ex- cepting December, 1935, since July, 1933. “But the net operating income of over $300,000,000 earned in 1936 was the largest in the first seven months of any year since 1930, and was an in- crease of 35 per cent over the corre- sponding part of 1935. The improve- ment actually began in August, 1935, and total net operating income earned in the 12 months ending with July, 1936, was $578,426,000. This was an increase of 37 per cent over the pre- ceding 12 months, and was substan- tially larger than has been earned in eny calendar year since 1930. “Prospects of traffic and net earn- ings during the last one-third of 1936 are still the best that they have been since 1930.” Insurance Men Confer Here. Representatives of the Connecticut Life Insurance Co. from the District of Columbia, Pennsylvania, Maryland and Virginia, with the company less than a year, opened a four-day educa- tional conference this forenoon at the Hamilton Hotel, their attendance being based on outstanding records. Fred O. Lyter, a sales executive from the home office, is in charge of the eonference and is presenting the re- sults of 15 years in the life insurance selling fleld. John L. McElfresh, local general mgent for the Connecticut Mutual, stated that with life insurance enter- ing into the lives of 63,000,000 Amer- icans, who have over $100,000,000,000 of protection, the necessity and re- sponsibility for life insurance com- panies having well-equipped repre- sentatives in the field is evident in order authoritatively to advise the in- suring public. Those attending the conference are: Baltimore, Cecil Ford and Ashley Og- den; Harrisburg, Henry Rindzune; Richmond, E. L. Bensen, jr.; William B. Ferrell, J. D. Fauntleroy, jr., and Gilbert Leigh; Washington, John J. Murray and Peter P. Liwski. Traders Watching Maine. The Maine election was one of the chief topics of conversation in the ‘Washington brokerage houses today. “As Maine goes, so goes the market,” was a frequently heard quotation. Veteran brokers, however, said that regardless of the outcome, no State election results would control the Stock Exchange more than tempo- rarily. In the long run market action 1s based largely on business figures. Business reports, brokers comment- ed, remain highly favorable. The Re- search & Administrative Corp., in its weekly summary, went so far as to predict that business will continue to improve for the next seven months. This was one of the first forecasts devoting particular attention to the first quarter of 1937. United Business Service, Boston, de- wotes considerable space to the rail- roads, especially to car loadings. The conclusion is reached that further sizabie gains in the net incomes of the carriers will be registered this year. Heard In Financial District. J. G. Hopkins, Washington repre- sentative of the Lincoln National Life Insurance Co., was among the first 15 agents in the whole country in the number of new policies written in Au- Mnlt of this week’s activity will be centered in the $55,000,000 issue of Bethlehem Steel 3%s. This issue s slated to reach the market to- morrow morning, and the expecta- tion is that the bonds will be in big demand. American Stores Co. is experiment- ing with a plan for selling its de- livery trucks to company drivers and giving the company’s hauling busi- ness to these drivers under wnm 2 An-Way Elec Applt 13 Alaska Jun (1600).. 21 Alleg Corp (d) ... 12% Alleg pf w330w (d). 12% Alleg pf wS¢iw (d). 1215 Alleg Pf XW (d) ceem % 27 Alleg prpf (d ME 13!\ 84 59% 5% 55% 55% 6415 157 Allied Chem (8). 23 Allied Mills (a50¢).- 6% Allted Stores . _ 69 Allied Stores pf (5) 35% Allis-Chalm (1%)-. 2% Amal Leather. __ 34 Amal Leather pf 32 Qa 138 124 Am BrakeS pf5% - 1374 115% Am Can (14) . 50 884 30 Am Car & Foundry. 57% Am Car & Fdry pf.. 136 114% Am Chain pf $16 % = 18% 3 7% Am Colortype._. 2% 20% Am Comel Alcoho 32 101 5 16% Am Crystal S(a50c) 89 Am CrysS 1st p£(6) 31 Am Enuu 6% Am & Fo! 25 Am & For Pw ls pf- 29% Am & For Pw §7 pf. 12 Am & For Pw 2d ptf. 13 Am Hawatian (1) 54 Am Hide & Leather. 32% Am Hide & L pf (3) 37 Am Home Pr (2.40) x 9% Am Lnternational.. 23i» Am Locomotive 66 Am Locomotive pf_ 21 Am Mch&Fy (80c). 10 Am Mch&Metadlc x 27 Am Metal 715 Am Power & Light_ 36% Am Pwr&Lt pf (5). 43 Am Pwr&Lt pf (6)- 18% Am Radiator(alsc) 23% Am Rolling M(1.20)x 36 Am Safety Rn (2)_ 25% Am Shipbldg (2)-- 56% Am Smelt&Ref (2). 20% Am Steel Foundry... 3% 15% 4 42% 41% 4l% 3% — % 15% + % 4 - % 424 — W 41% —3% 4;% -8% oy - BaBeoma T © € 0019 =100 31 b 8 4 1t 5 40s 138% b 125% 12 47 2 8T 2 67 8 185% 1 1% 11% 11% = % 12 26 26% 26% — % 4 29% 29% 204 — % 2208 100% 100% 100% — % 5 4 4 4 ™ 002 3 0100 00 0o 5 00 80 019 00 b 1t 00 b e 50 tn 40- 20 19 130 107% Am St Fy pf $2% _.x 108 36 63% 141% 26% 129 Am Sugar pf ( 24% Am Stores (2)... 48% Am Sugar (2)...... 20% Am Sumatra Tob t1 -x 2 12 17973 149%3 Am Tel & Teleg (9) x 12 176Y% 2% 19% 87 Am Tobaceo (6).-.. 88% Am Tobacco B (5). 8% Am Type Founders. 194 Am Wat Wks a20c.. 923 Am Wat W 1st (6).. 7% Am Woolen..__._ = 54% Am Woolen pf(33). % Am Writ Paper (d). 3% Am Zinc & Lead 28 Anaconda Cop (1 15% Anchor Cap (§0¢) - 3 APWPaper....... 4% Armour (lliinois) .. 664 Arm’r(111)pr pt (6). 47% Armstrong C (1% ). Tia Arnold Const (50¢). 844 Artloom Corp.. 12% Asso Dry Goods__.. 59 Atch To& S Fea2_. 90% Atch To&S Fe pt(5) 219 Atlantic Coast Line 11 AuGuif& W Ind__. 13% Atl Gulf&W Ind pf. 26% Atlantic Ref (1) __ 14 Atlas Tack (a50¢c)-. 26% Auburn Auto. = 5% Austin Nicho! 2915 Austin Nichols pf A 4% Aviation Corp (Del) 2}y Baldwin Loco (). 2% Baldwin Lo asd(d)_ 293 Baldwin Loco pf(d) 33% Baldw L pfasd(d).. 15/ Baltimore & Uhlo__.. 21 Baltimore & Oh pf._. 417 Bang & Aroos (2%) 1104 Bang & Aroos pf(7) 82 Barker Bros pt 14} Barnsdall Ol ( 16% Bayuk Cigars (75c). 18 Beatrice Cream (1) 13% Belding-Hem (1)._. 21% Bendix Aviat'n (al) 20 Beneficiai L (t13g). 48 Best& Co (12) (1). 123% 107W Betnlehe Stl 01(7).. 20% 14} Blaw-Knox (40¢)-. 113 109% Bloomingdale p£(7) 31% 104 12% 65% 13 17% 167 BoeingrAirplane... 41 Bohn Alum&Br (3). x 80% Bon Am1 A (4)eeu 39 BonAmi (B) (2%)- 25% Borden Co (1.60) ... 64 Borg-Warner (13)-x 6 Boston & Maine____ 12% Bridgp't Brass t40¢ 43% Briggs MIg (12)__. 40% Bklyn-Man Tr (3) .. 97% Bklyn-Man T pf (6) 413 BKiyn & Queen 47)3 Brown Shoe (3)-. 814 Brunswick-Balke 87 Bucyrus-kirie 110 107%s Bucyrus-Erie pf(7) 15% 1% 14 31% 3T 9% Budd (k5 G) MIg.__ 1 Budd 2d pd..Oct 16. 8% Budd Wheel 20% Bullard Co (a 113 Bulova Watch_ 25 Burr Ad Mch(160c). 2% Bush Terminal (d). 8% Bush Term deb (d). 2% Butte Copper&Zine. 16% Byers (A M) . 54! Byers (A M) pt. 30% 22 ByronJackson t1._ 35% 9% 30% California Pkg(1%) % Callahan Zinc.. 6 Calumet&Hec al 30 Campbell Wy (11)_x 2 10% Canada Dry G A.... 10% Canadian Pacific.... 37 Cannon Mills (a2).. 12% Cap Adm (A) adlc.. 91 Car Clin&O sta (5)-. 6% Carriers & Gen 20c.. 9214 Case (J 1) Co - 54% Caterpillar Tra 21% Celanese Corp as0c.. 19 Coro 25% Cent Aguire (t1%). 63 Century Rib Mills_. 58 47% Cerrode Pasco (4)_. 8% Certain-teed (new). b7% Certain-teed 6% pf- 80% Certain-teed 7% pf. 19 Champ Pap & F (1). 59 Chesapeake Corp(3) 51 Ches & Ohio (2.80) . 2% Chi & East 111 pf(d) 1% Chi Grt West (d) ... 4 ChiGrtWptd)... 1% Chi Mil St P&P (d). 27% Chi M St P&P pf (d) 2% Chi&NW (@) - 6% Chi& N W pf (d) . 1213 Chi Pneumatic Tool 40% Chi Pneu Tool pf_.. 1% Chi R 1&Pac (d) . 3% Chi R I&P 1% pf(d) 19% Chickasha COal¥.- 7 Chiids Co 85l9 Chrysler (a6%)._. 15% City ice & Fuel (2) x 727 City Ice&F pt (6%) 4% City Stores 23% Clark Equip (1.: 20). 33 Clev Graph Br (2).. 48 Cluett Peabody (1)~ 84 Coca-Cola (2) 53% Coca-Cola A (3 13 Colgate-P-P (60¢).. 39% Collins & Alk t3___. 112% 107% Collins & Aik pf (7) 3% Colo Fuel & Ir (d) 2% 81 Col Fuel & Ir (new) llB 109 Tl 20% Th 15% 1% 4% 20% 26% 19%. o 8T 23% Colo F & 1 pf (d) . 2134 Colo & Southern._... 14 Columb G&E (a20c) 80% ColG& Epe (5) . 31 Colum Piet vto (1) 44 Comcl Credit (14)_. 100% Comcl Credit pf 43 55 Comecl Invst Tr (4).x 11 80 97 Comel In T pf (4%)x 14% Comecl Solv (60¢) .. 23 Comw & Southern.__ 59% Comw & Sou pt (3). 7 Conde Nast Pub _ 80% Congoleum-N (1.60) 15 ConnR & L pf. 8 Consol Cigar 2% Con C pr pf ww 6% 27% Consol Edison (2)._ 102 Consol Ed NY pri6) 4% Consol Film 15% Cons Film pf (31).. 3% Consol Laundri 11% Consol Oil (80¢) . % Consol Textile (d). 2 Cons Coal (Del)vtc. 12% Cons C (Del) pf vte. 15% Container Corp (1). 10% Contl Baking (A).. 1% Contl Baking (B) . . 67% Contl pL (B). 67% Contl Cat (8) eeeee A 2 98% 2 100% 37 133 85 28 2 108 18% % 120 122 17% 174 4 111% 111% 284 43 92 41% 29% 9 RIACAR A 52% 102% 102% 8 8 4Ty 4T 12% 12% 16 16% 107% 108 13% 13% 1 1 ieryl ¥ FFFEF FIEFE FFFEIFE 1411+ At [(NENN] 15% 5 1015 1015 + % ™ Tho— W 154 154% —1% 73 Ta% 26% 261 29% 29% 323, 32% 9t 53% 9% 5008 63 1508 111% 115 +3 4 19% 19% 1 9% 9% = % 18 663 5% + 4% 2% — % 10% — % 1% — % 3% — W 34— % M - % 19 57% —2% 2% 6% — % 19% — % e b =i -% TP YN Y PRI o & W 9 9 112% 114 4 17 17 @ HOI 82% 82Y% ™ 8 3 35 39 39 58 58 -1 121 121 -1% 564 57 + 4 14% 14% — % 56% 656 + % 112% 112% + % -1 19 79% T84 2 114% 114% 114% + % 9% T9% — % 8 118% 118 118w —2§& 14 15% 16% 15% 127 3% + % 8 68% — % 6 8% + 34 6 30s 16% 1 10% — % 20- T 82% + W 42% — 2107 107 107 19 5% 4% 4% 14 19% 18% 19 8 6% 6% W 55 12% 12% 10 % % 5 4 4 130s -19% IN 6 20% % -% -% + % 1% —m 20% — 1% - 2 g +3 63% Corn Prod Ref (3).. 4 Coty Ine 15% Crosley Rad (a50c). 43% Crown C& 8 (2)___. 463 Crwn C&S vt ww 23 T% Crown Zelleb'k vtc. 99% Curtis Pub pof (7). 4 Curtiss Wright. 10% Curtiss Wright (A) 43% Cutler-Hammer t1. T5% Davega Stores 130c. 52 Deere & Co.. 27 Deere & Co pf $1.40 191% Deisel-Wem-G (f1)x 36% Delaware & Hudson 147% Del Lack & West__.. 9% 4% Den&Rio GW pf (d) 153 128 Detroit Edison (t4) 40% 33 Diamond Mtch t1%. 34% 18Y% Dist Corp Seag Ltd. 61% 41% Dome Mines (12).. 11% 7% Dominion Stores___ 79% b50% Douglass Afrcraft.. 8% 47 Dunhill Internatl ... 167% 133 Du Pont de N 13.60- 133% 129 Du Pontdeb (6)-——. 9% 5% Eastern Roll Mills_. 185 156 Eastman Kod (15).. 87% 281% Eaton Mfg (2) ... 13 5% Eitington-Schild 44% 30% Elec Auto Lite (: 114 110% Elec Auto L pf (7)-. 17% 10 Electric Boat. . 5% Elec&Mus In(b24c). 6% Elec Pw & Lt 2915 Elec Pw & Lt $6 pf_ 32% Elec Pw & Lt 37 pf. 42% Elec Stor Bat (12)_. 48 EngP S $5.50 $4.40_ 55 EngPS$6pf14.80- 5% Equit Oftice B a20c.x 11 ErieRR.__ ™ ic). 12 Eureka Vac C (!01:)! 1 234 Evans Products (1). 4% Exchange Buffet_.. 2% Fairbanks Co. 814 Falrbanks Co pi 34% Fairb’ks-Morse( 31% Fajardo Sugar (2).. 18% Federal Lt & Tra 84 Fed Lt & Trpf (6).. 37 Fed Min & Smelter_ 7% Federal Mot Tr 40c. 213 Fed Water Sve (A). 201 Fed'd Dept St 11.40. 38 Fid Phoe F 1 (11.20) 20Y% Filene's Sons $1.60 . 247 Firestone T&R 1.20 40 First Nat Strs (2%) 82% Flintkote Co (1)___ 374 Follansbee Bros (d) 32 Food Machine (1)__ 111% 106 Food Mach pf(4%). 38% 24'% Fost Wheeler new . 39% 30'4 Fourth Nat [al.45. 7% 63 Frank Sim pf (37)-. 231 Freeport-Texas (1). 47% Fuller Co pr pf ... 313 Fuller Co 2d pfoc... 3% Gabriel Co (A) 11% Gamewell Co.__. 812 Gen Am Investo 42% Gen Am Trans 1% _. 21 Gen Asphalt (b25c) 10% Gen Baking (160c) _. Gen Baking pf (8) - 11 10s 30s 50s 43% 33% Gen Foods (1.80) 7% Gen Gas & Elec (A) 123 117% Gen Mills pf (6) .. 72% 537 Gen Motors (12) 101 5% Gen Outdoors Adv._. 48% 18% Gen Outdoor Adv A. 6% 315 Gen Pub Service __. 3215 Gen Ry Signal (1) 2 Gen Realty & Util_. 331 Gen Refrac 1al% ). 3213 Gen Sti Casting pf_ 17 Gen Theatre Equip. 13% Gillette Saf Raz (1) 6% Gimbel Bros. . 69 Gimbel Bros pf(a3) 393 Glidden Co (2) 67s Goebel Brew (t20c) 12% Gold Dust vt (60c) 13% Goodrich (BF) . 74 G'drich (BF)pf n(5) 21% Goodyear T & R___. 87 Goodyear $7 pf (4). 815 Gotham Silk Hose_. 77 Goth Silk H pf (7) 2 Graham-Palge - 1% Granby (2d stpd 314 Grand Union ctfs._ 16 Grand Un pf 187%¢ 2415 Granite City Stl (1) 2815 Grant (W T) (1.40) 32% Grt Northeyn pf___ 16 Grt North'n Ore (1) 31 Grt West Sug (2.40)x 14915136 Grt West Sug pf (7) x 40s 31% 22 Green (H L)Co(t1) 9 80% 48% Greyhound C'p 3.20. 14 55 3013 Gulf Mobile & N pf. 1 37 33 Hack WpfA (1%). 11% 6 Hall(WF)Printing. 21% 14 Hamilton Watch __ 44% 30% Harbison Walk(2)_. 16% 12 Hat Corpof Am (A) 9 4% Hayes Body 133 102 Hazel Atlas Gl (16) 164 150% Helme (G H) pf (7) 35% 254 Hercules Motor (1). 116 84 Hercules Pow (5)... 80 61 Hershey Choc (3)_. 119 108 Hershey Cpf (t4)_. 23% 9 Hollander (t50¢c)... 37% 19% Holly Sugar (2). 44% 39% Houd-Hersh A(2%) 33 22% Hud-Hersh(B)t1l. 12% 6% Houston O1l vte 57% 48% Howe Sound (13) 5% 3% Hudson & Manha 17% 8% Hudson & Man pf__. 19% 13% Hudson Motor Car. 3% 1 Hupp Motors 18% [llinols Central 30 Illinois Cent pf (A). 25% Indus Rayon (1.68). 88% Inland Steel (3) ___. 614 Inspiration Copper.. 11% Interboro R T (d).. 21 Intercontl Rubber_. 223 Int Agricul pr pf___ 185% 160 Int Bus Mach (16)—. 56% 35% Int Cement (2) ... 565 Int Harvester 235 . 2% Int Hydro Elec (A). 41 Int Mercantile Mar. 43% Intl Nickel (1.40)__. 3% Int Paper & Pw (A) 1% Int Paper & Pw (C) 201 Int Paper {t Pw pf_. 37 Int Print Ink (1.80) 19% Int Rwy Cent A pf. 50 Int Silver pf. = 12% Int Tel & Tel 10% Interstate Dept Str 82 Int Dept Strs pf(7) 15 Intertype Corp (1). 24% Island Creek (2) .- 75% Jones&Laugh 7% pf 39% Kalamazoo Stove 1. 13 Kans City Southern 19% Kans City South pf. 17 Kaufman Dep S (1) 25 KayserJ&Coal%. y-Hayes (A)._. vinator (160¢c) . dall pf A (16)_. 28% Kennecott C (1.20). 17% Keystone S&W (2). 3% Kinney (G R) Co... so Kinney (G R) pt Kresge (S8) (11 nou 101 Kresge (8 S)pt(7). 19% Kroger G&B (1.60). 32 Laclede Gas St L pf 15% Lambert Cot2) ___ 14 19% 12 Lee Rub&Tire(50c) 1 12% 15% Leh Port Cmta25c. 4 29% 941 Lehigh Por C pf (4) 50s 118 2 Lehigh Valley Coal. - ¥ 2% 9% Lehigh Val Ceal pf. 1 12% 8% Lehigh Valley R R. 42 18% 89 Lehman Corp (13). 1109 12 Lehn & Fink (1%). 1 15% 371% Lerner Stores (2) .. 1 58% 4T% Libby-Ow Gl(a2%) 17 68% 7 Libby McNeill & Lo 8 9% 25 Life Saver (1.60). .. 4 25% 97% Ligg&Myers B (14) 1106% 23% 19 Lily Tulip Cup(1%) 25% Lima Locomotive.. 36 Link Belt (11.20)... 32% Liquid Carb(1.60).. Loew’s Ine (13) _. , §ga=saa~4_.~ 30- 101% 20% ;o“ m- 45% % 438 ko m 1043% Loew’s Inc pt (6% ). 2 LoftInc_.. 40 "II 10080 W1les (3)eue 129% 8 175% 36 11% 41% 112 13% 5% 1R ) FEER FOREER 24% —1% 100% — % 19% 27 13 41 22 —1% + % - % “%s —-% 26 — % 25% — % 21% -1 20% — % 48% + % 21% + % 4% = % 40 + % mm 1om % 20% 20% + % 45% —1% 19% + % 12% +% 281% — % ll'l 118 +1 12% McCrory Stores..._. 92 McCrory Strs p£(3). 39% Mcintyre Porcu (2) 4 85 McKeesp't TP (fé)x 7 4 40% Macy (R H) Co (2). 8% Madison Sq G t60c... 34'% Magma Copper (2). 14% Man El md gtd (d). 2% Maracaibo Oil Exp. 8% Marine Midld (40c) 18% Market St Ry pr pf._ 41 Marlin-Rock (12) __ 11% Marshall Field & Co 6% Martin Parry ... % 2T Mathieson Alk 135 161 153% Mathieson pf A (7). 69% 43% May Dept Strs (2).. 556 46 Maytag pf ww (3).. 110% 1083 Maytag 1st pf (6)-- 12% Mead Corp.. . .. 9714 Mead Corp vf $4%—. 55% Melville Shoe (4)... _ 23% 17% M1d-Contl Pet s 48% 21% Mid St Prod (a2) 131% 110 Mid Stl 1st pf (8) _ 98 65 Minn-Hon Ros 11%. 12% 6% Minn Moline Pwr._. 26% 16% Mission Corp. 9% 5% Mo Kans & Texa a%w. 14% Mo Kans & Tex pf ™% 28% 103 19% Mohawk Carpet (1) 79 Monsanto Chem(t1) 85% Montg'y Ward 80c.... 3 Mother Lode 28% Motor Prod (12) 15's Motor Wheel (1) ll% Mullins Mfg (B), . 9 Mullins Mfg pf (7). 90s Munsingwear a2%.x 1 Murphy G C (1.60) - Murray Corp__ Myers (F E) ('2)—- Nash Motors (1) ... 20% Nashv Chat & St L. 1215 Natl Acme (a25¢).-. 9% Nat Aviation. 31% Nat Biscuit (1. 50) - 21% Nat Cash Reg (50c) 21 Nat Dairy P (1.20) 1l2 1074 Nat Dairy P pf B(7) 10 Nat Dept Stores 25% Nat Distillers (2)_. 28% Nat En & Stpg (2) 15"- Nat Lead (150¢) .. t Pwr & Lt (60¢c) t Steel (1) % Nat Supply Co » Nat Tea (60c) . 10% Natomas (180¢) 32 Neisner Bros (2) 41 Newberry (JJ) 2.40 9 Newport Industries 32% N Y Airbrake a50c.. N YCentral R R 17% N Y Chicago & St L. 361: N YChi & St L pt_. 34 N Y Dock_ 10% N Y Dock pf_ 139 119 NY & Harlem (5) .. N Y Investors (d) NYNH&H () .. NY NH & H pt (d) _ NY NY 5% Ontario & West Shipbuilding Y Shipbldg pf(7). 60s 83 N Y Steam pf (6) . x 508 109% 93% N Y Steam 1st (7). x 108 111% 105 Norfolk&Wn pf(4). 30s 6% North Am Aviation 5 23 North AmCo (1) . x 56 52% North AmCopf (3)x 2 237 Northern Pacific .. 40 50 Northwest Tel (3).. 10s 12 Ohto Ol (50¢) .. ... 2415 Oliver Farm Equip. Omnibus Corp vte 8 Oppenheim Collins. 24Y% Otis Elevator (60¢) 136 123 Otis Elev pf (6)_. 20% 123 Otis Steer___ 56 47 Outlet Co (12) ____ 164 128 Owens-Ill Glass (5) 17% 13 Pac Am Fisher (1) 9% 314 Pactfic Coast 1 17 8y Pacific Coast 9% 4% Pacific Coast 2d _ 41 30% PacificG&E (1%). 58% 47% Pacific Ltg (2.40) 22% 14% Pacific M1l 142 118 PacificT& T (a5)__ 11% Pacific W'n Oll b25e 67 Packard Mot (a25c). 67 Paraftine Co (t2) 7% Paramount Pict_ 59 Paramount 1stpf__ 84% Paramount P 2d pf. 174 Park & Tilford __ 2%, Park Utah 40% Parke Davis (al% 23 Parker Rust P1i%.. 4% Parmelee Transp't_. 6% Pathe Film Corp.... 10% Patino Mines__ 1's Peerless Motor. 60 Penick & Ford (3) _. 69 Penney(JC) (a213). 314 Penn Coal & Coke _. 415 Penn Dixie Cement. 28% Penn Dixie Cpf A. 17 Penna Glass ctfs. 28Y% Penn Rallroad (al). 30 Peoples Drug (11) 38 Peoples Gas Chi_. 4 Peoria & Eastern. 56 Pere Marquette pf. 16 Pet Milk (1) . 13% PetC'pof Am as0c. 10'4 Pfeiffer Brew (1.20) 25% Phelps Dodge a7ic.. 3% Phila Rap Tr (d) 1% Phila & Read C& 1. 66 Phillip Morris (3)_.. 38! Phillips Petrol (t1) * Phillips P rts Oct 5. 8 Pierce Oil pt__ 1% Plerce Petroleum __. 30 Pilisbury FI (1.60). 35% Pitts Coal pt_ __ Tl5 Pitts Screw&B 50c_ 49 PittsSteelpf . 3 Pitts United Corp_.. 5814 Pitts United C pf__ 21 Pitts& W Va__ - 11% Plymouth Oil (: 12 Poor & Co (B) . 4% Porto R Am Tob A _. 6% Postal Tel&C pf (d) 2 Pressed Stl Car (d). 18 Pressed Stl C pf (d) 40% Proct & Gam(11%). 39 PubSveNJ (2.40)_ 36% Pullman Ino (1%)_ 16 PureOfl_______ 91% Pure Oil 6% p( 103 Pure Oil 8% pf. 9% Purity Bakeries 9% Radio Corp._ 68% Radio Corp pf A 335 5 Radio-Keith-Or (d) 11 RR Sec [l Cent.. 28% Raybestos-M (13%) 35% Reading (2)._._ __ 39 Reading 1stpf (2)_ 37 Reading 2d pf (2)__ 17% Rem Rand (160c) __ 21 Rem-Rnd 5% pf l‘/c 85% Rem-Rand pf (6) 4% Reo Motor Car.. 16% Republic Steel..___ 77 Republic Steel pf__ 78% Rep Stlprpf A (‘). 10 Revere Copper. 24% Revere Copper (A). 90 RevereC& B pf._ 22% Reynolds Met (1) 25 Reynolds Sprg (1)_ x 50 Reynolds Tob B (3) 32 Roan Ante (b76c)._.. - - raSwmouSaans 9 8100 30 1 10 =4 06 4 05 =t 45% NEW YORK COTTON NEW YORK, September 14.—Cot- ton was irregular today, wita hedge selling taken by trade and from Wall Street buying. December sold up from 12.12 to 12.22, but met renewed hedging. The midafternoon markst was about 5 points net lower to 3 higher, with near months easy. Putures closed barely steady. 6 to 14 lower. Slose. 32 1 98 4 46% 46 17% 184 98 98 41% 87% —1% 9% 43% — % 4% — % 384 + % 49% — % 1% — % 87% 60 1% 21% D pf (6 %) 1% Schulte Rslrl (@) % Schulte R S pf (d)-. % Seaboard Afr L (d). 2 Seaboard A L pf(d) 3% Seagrave Corp.. . 59% Sears Roebuck (2)_ 61% Sec Nat Inv pf $2.90 15% Servel. Inc (60c) ... 20% Sharon Steel Hoop. 4% Sharpe & Dohme __ 43% Sharp & Dpf (3%). 11% Shattuck F G (50c). 14% Shell Unfon Ol _ l?d 110% Shell Un Ol pf 6% . 8% Silver King (60c)_ 19% Simmons Co (1503) 1935 Skelly Ofl_ 40% Smith (A O) ... 21 Snider Packing. 12% Socony-Vac O (50¢) 3% So Am G & P(a20c). 25 South Cal Ed (1%). 23% Southern Pacific. 12% Southern Railwa. 19 Southern Ry pf_. 63% Spalding(AG)1st Dt 5% Sparks-Withington. 67 Spear & Co. 15% Sperry C'p 13% Spicer Mfg. 44 Spicer Mfg pf (3)_. 63 Splegel-May-S (3)_. 14% Stand Brands (80c) 9% Stand Com Tobacco 5% Stand Gas & El (d)_ 91 Stand G&E $4 pf (d) 24% Stand G&E $6 pf(d) 26% Stand G&E $7 pt (d) 35 Stand O of Cal (t1). 32% Stand Ofl of Ind t1_ 51% Stand Oilof NJ (1 24% Starrett(L S)11.40_ 65 Sterling Prod (3.80) 2% Sterling Secur (A). 8% Sterling Secur pf__. 164 Stewart Warn(50c). 14% Stone & Webster___ 9% Studebaker Corp.... 72 SunOfl (11)._ 118 Sun Oil pt (6)_ 35% 2 19% 52% 100 281 9613 T3% T 841 115 ERLER EE EF 12% 18% 129% 26 3214 58% 56% 46% + % ',’,om 140% 115% 165 153 116 111% 123 116% men s Paid 27 Superheater (50¢).. 3 Superior O1l_ 20% Swift & Co (1) ._ 28% Swift Intl Ltd (2) 1% Symington (d) - 5% Symington A (d) 6% Telautograph (60c) 5% Tennessee Corp __ 2874 Texas Corp'n (11) .. 33 Texas Gulf Sul (2)_ 28 Texas&PacRR _ 7% Tex Pac C & O aZic 9% Tex Pac Land Trus! 33% Thatcher (1) _. x 59 Thatcher pf (3.60) &3 Thermotd Co 23% Third Nat Inval.l5 24% Thomp'n Prod a6lc. 4’x Thompson Starrett 14% Tide W Asso O 60c_ 106'2 100% Tide Wat A O pf(6) 12's Timken Detroit(t1) 56 Timken Roll B (12) 11 Transamerica t40c_ 147; Trans & Westn Air. 7' Tri-Cont Corp a2ic x 4% Truax-Tra Coal __. 225 20th Cent Fox Film 31% 20th Cent F pf 1% _. 8% TWin City R Toooee 2% Ulen&Co . __ 74% Und-Ell-Fisher (3). 38!3 Union Bag&Pap (2) 1% Union Carb&C 2.80_ 20% Union Oil of Cal (1) 149‘. 108%; Union Pacific (6) ... 9015 Union Pacific pf (4) 22% Unton Tank C 1.20_. s United Afrcrafi - United Air Line vtc ¢ United Bisc (1.60) _. Unit-Carr Fast (2)_ United Corp United Corp pf (3) United Drug (a50c) x Utd uyzawood (al%. Unit Enz & F (2) United Fruit (3)_ United Gas Imp (1) U S Diseributing___ U 8 Distributing pf. U S & For'n Secur__ S & For S 1st (6)- s s s - S Indus Aleohol . S Leather vtc____ J S Leather A vtc__ SPipe & Fy(1%). S Realty & Imp__ S Rubber. 21‘ 16% 47 2% 46% ccc:c:ccccc U S Steel pf ) 5 United Stores (A). 57% Univ Leaf Tob (13) Univ Leaf T pf (8). Univ Pict 1st pf _ Util Pwr & Lt (A). Vadsco Sales Corp._ Vadsco Sales Co pf. 4 Vanadium Corp __. Van Raslte (al%3). Vick Chem (12) .. Va-Car Chemical Va Iron Coal&Coke._ ValronC&Cpf. ‘Wabash (d) - Wabash pf A (d) ... ‘Waldorf Sys $1.20__ Walgreen Co (2) ... Walgreen pf (635)._. Walker (H) (2) Walker (H) pf Walworth Co.__.. 7% Ward Baking A. Ward Baking B Warner Bros Pict. Warren Bros. .. Warren Fdry&P(1) Waukesha Mot (1) . x Wesson O&S(150¢) x Wesson O&S pf (4) West Pa Elec A (7) West Pa Elec pf (6) West Pa Elec pf (7) West Pa Pwr pf (6) West Pa Pwr pt (7) Western Maryland.. Western Md 2d pf__. Western Pacific.._. Western Pacific pf_. West'n Union (a2) . West'gh'se A B (1) 9413 Westingh’se El (4). 22% Weston EI 1 (a25¢). 32% Westvaco 5%pf 1% 21% Wheeling St - 84 Wheeling Stl 18% White Motor.__ 13% White Rk M S(1.40) 16 White Sew Mch pf_ 6% Wilson & Co (50c) - 70 Wilson & Co pf (6)- 44% Woolworth (2.40)_. 234 Worthington Pump 56 Worth Pumppf A 47 Worth Pump pf B. 62% Wright Aero 63 Wrigley W ir (13). 8% Yellow Truek . . 42% Young Spr&W (13)_ 41% Youngs'tn Sheet&T 11% Zenith Radio e 50 8 15 2 54 2% 34% 5% Zonite Products. 240,000 570.000 less than Tes. ‘clmllnli.l:'“ i s aividend. ik of “tradiog 1 40s 3 3 HERCRBNNG N 27 2 46 40 ThlE4++) 04 41110 I+1t+ {05 6 VRS 181 LAY 6 1 O 15, 3 B 3 W FIES SFEFFEFEESL +11 - b3 [} 21 Y Approximate Sales of Stocks on the N. ¥. Stock Exchange. . sy 12:00 Noon.. 2:00 P. Tetest aunriee oF bait nlll-y!lrl! 6; January. 10 25 bid; March. 10.35, | futures closed les. 150 contrs New Orleans Prices NEW _ORL! tember 1 Quiet ¢ Jeslings bro brought small price pening of TIaTker tofiay. ‘Accumulated h week end supplied t! support near momhl ‘tober opened nears to distants. Market letters this morning with the majority advisi; urchases were Warrant Vel "Eaily weather reports showed 2t over Sundars T Nine offerings over the e market with plenty of contracts and with only scattered trade % pe; P 09, December at 12.10, March at 1"04 and May at 12.04. “Comparative firmness in distant options was attributed to commission house buy- ing and some transferring of hedges from Jere bullish, custome cember, Im. 6.4: 4 »— re- the cotton T8 t] T present !-Iv-rnocl Mu-.. receipts. ai . nnuumu Tower: EEi s el 54 uis. n pot and thture. 4 N5, - Tron auet: b, Eastern Penns “.mA'l 50 tmony. | An 350881 Wotramite. 14 00814 5 __._ BONDS TO BE CAELED. anum. +l+1+1+1 +14+0000I+1+1+ - s » sxsslefrsses .'.’%‘....“u":;t et b GO Many Down Fractions to' Point or More at Close of Session. Stock Averages 18 60 Otil Stks 522 52.1 52.1 378 53.4 434 '3- il Net change. —.6 Today, noon- 89.8 Prev. day... 90.4 Month ago.. 89.1 Year ago-.. 6719 1936 high. 92,0 1936 low.. T34 1935 high... 763 4.7 1935 low.... 49.5 21 (] 1932 low.... 175 3.9 1929 h!ah.. 1469 153.9 lM 31517 1927 JoW.... 51.6 953 61.8 618 68.0 68.5 67.3 50.0 69.6 85.7 FEFE FERIFEF F OPLFFEF (Compiled by the Assoclated Press.) BY VICTOR EUBANK. Associated Prcss Financial Writer, NEW YORK, September 14.—Stock market stalwarts bumped into quiet, but persistent, profit realizing today and, despite a modest rally in the final hour, losses of fractions to a point or more were widely distributed at the | close. | A few aircrafts and specialties man- | aged to buck the trend and finish at | higher levels. Transfers were around 1,000,000 shares. The sharp snap-back in steel pro- duction—this week's rate was official- ly placed at 75.5 per cent of capacity, an upturn of 4.3 points from the Labor day week—helped to prop market leaders. The steels, leading the early decline, were among the first to reduce losse:, Other sections of the list fell line and in late dealings modera’: recoveries were general. The morning’s downturns was a‘- tributed partly to inclinations of som- traders to lighten commitments pernc - ing results in the Maine electio: 14 | Economic news was still comfortin x. to bullish proponents. % | Wright Aeronautical got up mo: 1% | than 6 points. Other resistant spo % | included Boein, Curtiss-Wright “A Douglas Aircraft, Cerro De Pascr, \ Kennecott, Goodyear, Socony-Vacuun | New Haven preferred, Pittsburg Scre ‘L Bolt, Zenith Radio, Paramount anc ‘Warner Bros. Tilting downward throughout th | greater part of the day were Unitec States Steel, Bethlehem, General Mo- tors, Chrysler, Schenley, J. I. Case. American Telephone, Consolidated Edison, North American, Anaconda | American Smelting, United States ESmeltmg, Standard Oil of New Jer- = | ey American Can, Westinghouse, Du | Pont, General Electric, Allied Chemi- cal, Santa Fe, New York Central, Southem Railway, Loew’s, Montgom- | ery Ward and Coca-Cola. CHICAGO GRAIN Ky tae Assoctated Press. CHICAGO, September 14.—Slightl: lower prices and slackened tradinz formed the rule on the Chicags | Board of Trade today, especially to- ward the last. Action of grains here was in con- trast with advanced gquotations at Winnipeg and Liverpool, where more notice was taken of better demand | for wheat in Europe and of dry weather in Argentina. A bearish cir- cumstance was word of increased seeding of wheat in domestic Winter crop territory Southwest. Wheat closed irregular, 5% off to . up compared with Saturday's finish, September 1.12%a1.127:;, December 1.1112al.11%; corn ;alls down, Sep- tember 1.12%al.13, December 95':a 95%; oats at 3sa’> decline, and pro- visions unchanged to a setback of 2 cents. S‘W'HEAT— Ont . “x2 J‘.P:.(‘J'l‘- Chicago Cash Market. Cash wheat, No. 1 red, 1.161: red, 1.17; No. 1 dark hard, 1.23!}; No. 2 dark hard, 1.23; No. 2 mixed, 1.16%; corn, No. 3 mixed, 1.15;a26'2; mainly white; lake billing, No. 1 yellow, 1.14%; No. 2 yellow, 1.143;; No. 3 yellow, 1.14%; Nq. 4 yellow, 1.14; Illi- nois proportional, No. 1 yellow, 1.15a 16; No. 2 yellow, 1.15a16; No. 3 yellow, 1.14%al15%; No. 4 yellow, 1.14%al5; No. 5 yellow, 1.14al1415; No. 1 white, 1.31; lake billing, sample grade, 98a 1.12; oats, No. 2 mixed, 45; No. 1 white, 4612; No. 2 white, 45; sample grade, 42%. No rye. Barley feed, 70280 nom.; malting, 1.10a45 nominal; timothy seed, 5.90a6.15 cwt.; new crop, 5.653 90 cwt.; clover seed, 15.00a22.00 cwt. Liverpool Wheat Prices. L) E e ol gSeptember 14 UR.—Wheat Close. 167 Baltim at red Winter, domestic, 1.13; September. ey DlVIDENDS ANNOUNCED NEW YOI —1 denyEny, YORK. September 14.—Dividends llrllcky spotL Accumulated. Rate. riod. feord sore. e. Gen, Tire & Rubber 4% TR 3150 @ 021 9-30 c . 10-15 Gent, Ohlo stl Prod- - Rossia 9-19 1 British Amer Ol Berger Brew pf Gunedian Westingh © Con Gas & Cke $3 Master El NYP 59: De- T shinaary. S80r Tiarchy 0.08: ; U l'. i March, July, 6 38. METAL MARKET. NEW_YORE. September 14 (P.—Coppe! : ehcl:ro tic. spot ang “xgo 12.50. fatire. §.75 0.00. s Elec U l 1l el el STEEL CONTRACT LET. NEW YORK, September 14 (#)— American Bridge Co., subsidiary of United States Steel’ Oorp has been awarded a contract to provide about 6,500 tons of structural steel for the General Motors assembly plant to be built at Linden, N. J. IR RO S NEW YORK, September 14 (Spe- cial).—Hoit, Rose & Troster have pre- pared an analysis of rallroad earn- ings, pointing out that improvement in earning power should lead to read- Justment of capital structures of roads Teceivership. A