Evening Star Newspaper, September 15, 1936, Page 18

"A—18 wxa FINANCIAT, THE EVENING STAR, WASHIXGTON. D. C, TUESDAY, SEPTEMBER 15, 1936. FINANCIAL, BULDNG ACTVTY TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE[TIKSSHLLOF - FRACTIONS TO §1 LEADS KEY INDICES Still Greater Rise Needed to Offset Long Lull, in Banker’s Opinion. BY EDWARD C. STONE. Extent of the rise in building ac- tivity in the United States during the first six months of this year is re- flected in com- parisons with key indices of busi- ness, the increase in the value of all building dur- ing the period being approxi- mately 3.8 times the increase in industrial pro- duction, more than five times the increase in the national in- come and more than 40 times the L FT increase in value 77" 0’Connor. Prev. High. 13% 35% 213 81% 1936 Low. 9% Adams Exp (a20c)- 17% Adams Millis(a76¢c) 1% Advance Rumiey... 58 Alr Reduction (11). 2 Air-Way Elec Appli 13 Alaska Jun (160¢c).. 21 Alleg Corp (4)..... 12% Alleg pf w$30w (d). 12% Alleg pf wS40w (d). 12% Alleg pf xw (d) . Stock and % 27 Alleg prpf (d) eeee % 26% Alleg Steel (1) 187% 50 157 Allied Chem (6) . 23 Allied Mills (ab0c! 6% Allled Sto: 35% Allis-Chalm 2% Amal Leather. Amal Leather pf $2. Amerada Corp (2) . 116% Am Can (14) 30 Am Car & Fo 20% Am Comcl Aleohol .. 16% Am Crystal S(a50c) 89 Am CrysS.1st pf(6) 315 Am Encaustic 6% Am & Forelgn Pwr. 29% Am & For Pw $7 pf. 12 Am & For Pw 2d pf. 13 Am Hawaiian (1) 514 Am Hide & Leather. 32% Am Hide & L pf (3). g n. Bales— Dividend Rate. Add 00. High. 13% - 08 1t 1t NN DN N0 A D= DNEN =3 Prev. 1936 Hig) 24% 46 8% Stock and Low. 17% Contl Dia Fibre(2). 35% Contl Insur (1.20). 2% Contl MOtOrS.o... 284 Contl Ofl of Del (1). 27 Contl Steel (2) ... 55% Corn Ex BE&TT (3). 63% Corn Prod Ret (3).. 4 CotyInC.oemeeeen 15% Crosley Rad (a50c). 43% Crown C& S (2)_» 46% Crwn C&S pt ww 2% T% Crown Zelleb'k vte.. 10% Curtiss Wright A 7% Davega Stores 130c. 36% Delaware & Hudson 14% Del Lack & West___ 4% Den&Rio GW pf (d) 42 Devoe&Rey (A) (2) 88 Dia Matchpf t1% . 184% Dist Corp Seag Ltd. 41% Dome Mines (12)... 7% Dominion Stores___ 50% Douglass Afrcraft. 13 Dresser Mfg B .. 1% Duluth S S & Atl Df 47 Dunhill Internatl. .. 167% 183 Du Pont de N 13.60- 115% 111% Duquesne Lt 1st (5) .2:30 pm. Bales— lo‘ Dividend Rate. mog.m Low. Close. Chge. 21% + % 2% 6% + % 2% + % 9 +h 54 123% +1% 1% 1% 10% — 10% + 13 1 159 160% 20s 113% 113% 113% +1% Prev. lnac High, mufl 86 Ll.nh But (11.20) ... 82% Liquid Carb(1.60).. 43 Loew’s INo (12)—e—w 2 LOftINC. —ceeeeane 40 Loose-Wiles (2).__. 21% Lorillard (P)(1.20). 13 La Oil Ref pf (d)__. 20 Louisv GEEDIA 1% 57% Lou & Nash (a4%). 22% Ludlum Steel (1)... 29 McCall Corp (2) eee. 12% McCrory Stores.... 39% Mclntyre Porcu (2) 85 McKeesp't T P (14). 8% McKesson & Rob__. 37% McKess&Rob pf(3). 11% McLellan Stores.... 27% Mack Truck (1)--—- 40% Macy (R H) Co (2)- 34'% Magma Copper (2)- 7 Mandel Bros.....—. 14% Man El md gtd (d)- 321 Man Elev gtd (d) . 815 Marine Midld (40c). 18% Market St Ry pr pf. 11% Marshall Field & Co 6% Martin Parry 27% Mathieson Al - 434 May Dept Strs (2)— 13% Maytag Co 46 Maytag pf ww (3)—. 12% Mead Corp. 55% Melville Shoe “)__. 6% Mengel Co. 50 Mengel Co D! 2:30 p.m. Bales— Rate. Add 00. High. Net Low. Close. Chge. [y 46% — % ] 414 + % 16 59% + % 2% 4 41 2% LTS - @ S Sma - - PO IS T T - .8 oS e 40% Mesta Mach (a3%) x 5% Miami Coppel 17% Mid-Contl Pet nwc. Prev. 1036 i gh. 52 101% A% 3% 30% Seaboard Ofl (1) 2:30 p.m. Stock and Bales— Low. Dividend Rate. mw‘mmmm 37% Schenley Dista7fc. 17 44% — % 97% Schenley Dpf (5%)x 1 99% +l% 1% Schulte R Strs (d) . 6 7% Schulte R S pf (d)_. % Seaboard Alr L (d). 2 Beaboard A L pf(d). 21 Seagrave COrp.—..— 595 Sears Roebuck (. 2% Second Natl Inve: 61% Sec Nat Inv pf $2.90 15% Servel, Inc (60c) .. 20% Sharon Steel Hoop... 4% Sharpe & Dohme.... 11% Shattuck F G (50¢). 30% Sheaffer Pen (2).... 14% Shell Union Ofl_.... 124 110% Shell Un Oil pf 5% .. 14% tov. 2 8%, Silver King (60c)__. 19% Simmons Co (a50c). 3% Simms Petrol 112 Skelly Oil pf(17%)- 40% Smith (A O).. - 21 Snider Packin, 12 Socony-Vac O (50c) 3% So Am G & P(a20c). 26 So Port R Sug(t2).. 25 South CalEd (1%). 23% Southern Pacific._.. 12% Southern Railw: 19 Southern Ry pf._. 5% Sparks-Withington. 67% Spear & Co 29% Spencer Kell 50). 15% Sperry C'p vte (al). 13% Spicer Mfg 44 Bpicer Mfg pf (3).. 63 Splegel-May-8 (3)._. % Aircraft Issues Score Rise Despite Small Losses in Other Groups. Stock Averages ndus. Net change. —.4 . Today, noon 89.2 402 5 89.6 .5 5! - 89.2 39.0 5 68.3 3 - 920 415 5 1936 10W.... T34 1935 high... 76.3 1935 loW.... 49.5 185 2 1927 10W.... 51.6 953 6 mu Stks —2 —3 676 619 674 50.3 69.6 18 2.0 2.3 7.8 3.4 434 447 1.6 1932 JoW.... 17.5 8.7 239 1929 high...146.9 153.9 184.3 151.7 1.8 61.8 (Compiled by the Associated Press.) BY VICTOR EUBANK, Associated Press Financial Writer. NEW YORK, September 15—The stock market lacked buying nourish- of all farm products, according to data compiled by the Mortgage Bank- ers' Association of America, just re- ceived here. The increase in value of all build- ing in the first six months this year was 76 per cent, while industrial pro- duction gained roughly about 20 per cent, based upon the generally ac- cepted index of 100 in 1926; national income gained 14.6 per cent and value of farm products gained 1.7 per cent. On this basis it would appear that new building is the brightest spot in the business picture. Such is not the case, however, because the gains being shown today, while substantial and most promising, will have to become increasingly larger to make up for the almost total lack of new construc- tion during the depression period and for some time immediately prior to that. “For example, value of new residen- ¢al construction during the first six months of 1936 gained 121 per cent and non-residential construction al- most 70 per cent; yet it must be re- membered that stagnant conditions prevailing in the building industry within recent years have created a situation whereby two or three years’ normal residential building is neces- sary to make up for the shortage cre- ated,” L. A, McLean, president of the association, said. Such figures as are available show that the various branches of the country’s economic activity are grad- ually being brought more and more into line with each other. A half mil- lion new homes built where needed each year for the next three years would undoubtedly be one of the most eonstructive moves toward bringing the so-called “heavy industries more into line with farm prices and indus- try in general,” he said. Leaders Off to Convention. Three Government banking agencies will be well represented at the annual convention of the American Bankers’ Association in San Francisco. Con- froller of the Currency J. F. T. O'Con- nor will go to the convention from the Texas Centennial Exposition, where he is now. He will be accompanied by Marshall Diggs, executive assistant 4n the Federal Deposit Insurance Corp. Leo T. Crowley, chairman of the ¥Federal Deposit Insurance Corp., and .. E. Birdzell, general counsel, expect to be present. It is now stated that Marriner S. Eccles, chairman of the Federal Reserve Board, who is in Utah on a vacation, will attend the sessions, in addition to two other gov- “ernors, John K. McKee and Ronald Ransom. The last delegates from the Wash- ington banks are leaving the city to- day by various routes. Robert V. Fleming and the others will go out of Chicago on special trains, on which will be several hundred other Eastern | bankers. After the sessions Mr. Flem- | ing will take a vacation, remaining | on the Pacific Coast and returning to Washington about October 15. On retiring from office he will continue to serve the association, as he auto- matically becomes a member for three years of the Administrative Commit- tee of the Executive Council, often galled the “cabinet” of the A. B. A, D. C. Bankers Reach Home. Corcoran Thom, president of the ‘American Security & Trust Co., reach- ed his office this morning after a two months' tour of the Far West, ac- companied by his son. He had a de- dightful trip, met A. P. Giannini and many other California bankers, and wvisited a lot of industrial plants. How- ever, he admits that he was much 21% Square D(B)a62%e. 14% Stand Bran 80c). 129 1207 Stand Brands pf(7). 13% 9% Stand Com Tobacco. 9% 5% Stand Gas & El (d). 24% 9% Stand G&E $4 pf (d) 56% 24% Stand G&E $6 pf(d) 63% 26% Stand G&E $7 pt (d) 3% 2 Stand Inv Corp.._.. 47% 35 Stand Oof Cal (t1). 40% 32% Stand Oil of Ind t1. 0 51% Stand Ollof NJ (11, % 24% Starrett(L S)t1.40_ 65 Sterling Prod (3.80) 814 Sterling Secur pf__. 16% Stewart Warn(50c). 14% Stone & 9% Studebaker Corp... 72 SunOfl (11). - 27 Superheater (50c)-. 8 Superior Ofl___. 9% Superior Steel . 23 Sutherlnd Pap 11.60 20% Swift&Co (1) 28% Swift Intl Ltd (2)... 1% Symington (). 5% Symington A (d)__. 6% Telautograph (60c). 5% Tennessee Corp.... 28% Texas Corp'n (11) . 33 Texas Gulf Sul (2). 28 Texas&PacRR __ 7% Tex Pac C & O a25c. 9% Tex Pac Land Trust 21% Mid Stl Prod (a2)-- 6% Minn Moline Pwr__. 2% MStP&SSMlsin. 16% Mission COrp-ooue 5% Mo Kans & Texa 1434 Mo Kans & Tex pf. 21 Missouri Pacific(d). 3% Mo Pacific pf (d)--- 19% Mohawk Carpet (1). 35% Montg’y Ward 80c.. % Mother Lode. . .. 28% Motor Prod (12) .. 15% Motor Wheel (1) ——w 11% Mullins Mfg (B) .. 70 Mullins Mfg pf (7). 44 Murphy G C (1.60)~ 14 Murray COrbacemmm 15 Nash Motors (1) 9% 5% Eastern RollMills.. 1 8 8 8 186 156 EastmanKod (t6)_. 1174 174 174 -1% 166 152 Eastman Kod pf(6). 161 28Y% Eaton Mfg (2)_ e 36% — % 5% Eitington-Schild___ 1% + % 30% Elec Auto Lite (a2). a1 — % 10 Electric Boat. 13% — % 5% Elec&Mus In(b24c). 5% + W 6% Elec Pw & Lit. 15 29% Elec Pw & Lt $6 pf- 687 +1% 32% Eleo Pw & Lt $7 pf_ 42% Elec Stor Bat (12).. % Elk Horn Coal (d) .. 1% Elk Horn Cpf (d) .. 7% Eng Public Service. 48 EngP S $5.50 $4.40_ 5% Equit Office Ba20c- 37 Am Home Pr (2.40). 174 Am Ice Df (2)__. 2314 Am Locomot! 66 Am Locomotive pf_. 21 Am Mch&Fy (80c)- 10 Am Mch&Metad0c- 27 Am Metal 714 Am Power & Light- 36% Am Pwr&Lt pf (5)- 43 Am Pwr&Lt pf (6). 18% Am Radiator(albe). 28% Am Rolling M(1.20) 18 Am Seating__ .. 25% Am Shipbldg (2)_.. 56% Am Smelt&Ref (2). 57% Am Snuff (13) . 44% 20% Am Steel Foundry.. 63% 48% Am Sugar (2) ... 1417% 129 Am Sugar pf (7). 26% 20% Am Sumatra Tob t1 17974 149% Am Tel & Teleg (9). 104 88l Am Tobacco B (5)_. 13% 8% Am Type Founders. 27 19% Am Wat Wksa20c_. 1% T0% ment arid prices slipped a cog to finish with losses of fractions to a point or s0 predominant. Transactions totaled about 1,100,000 shares. % Declines of as much as a point or so fell to Youngstown Sheet & Tube, Crucible Steel, General Motors, Chrysler, Sears-Roebuck, Case, Amer- ican Telephone, Consolidated Edison, North American, Standard Oil of New Jersey, American Can, Westinghouse, General Electric, Du Pont, Baltimore & Ohio and Santa Fe. Union Pacific | slid about 2 points on limited trading. ‘The aircrafts got a mild boost from the run-up of around 10 points scored by Wright Aeronautical on the heels of Monday's jump. Demand for this stock was explained in Wall Street in terms of reported orders for airplane motors. The company is a subsidiary of Curtiss-Wright. Other aircrafts in favor were Doug- las, United Aircraft, Boeing, Curtiss- Wright “A” and Sperry. Modest improvement ruled in U. S. Steel, Bethlehem, Anaconda, Seaboard Air Line, New York Central, Pennsyl- vania, International Nickel, Motor ‘Wheel, Newport Industries and Flint- kote. 18% 311 — & 90 -1 Zlh * % 87‘6*\ - 6 11% O O o 1319 00 £ 14 =31 1O RO DO O 03 1k i 1O D 0D D0 0 0 G N 86‘. | 12w FaFESES 28% 913y 3% 14} FEE FFEFPE FEERFFEE ‘J‘FSIS; 11% Erie R R 2d pf. 2314 Evans Produc 2% Fairbanks Co.. 813 Fairbanks Co p! 34% Fairb'ks-Morse( 31% Fajardo Sugar (2) .. 18% Federal Lt & Trac_.. 84 Fed Lt& Trpf (6)_. 6973 Fed Min & Smelt pf. 30% Nat Biscuit (1.60)_. 21% Nat Cash Reg (50¢c). 21 Nat Datry P (1.20) 108% Nat Dairy P pf A(7) 1073 Nat Dairy P pf B(7) 10 Nat Dept Stores___. 25% Nat Distillers (2) — 377 28% Nat En & Stpg (2)-- 31% 26% Nat Lead (150¢) . 144 137% Nat Lead pf B (6) 14% 9% Nat Pwr & Lt (60c 1 Nat Ry Mex 2d pt. 574 Nat Steel (1) 197 Nat Supply Co 74's Nat Supply Co 7% Nat Tea (60c) - _. 10% Natomas (t80¢) 3% 32 Neisner Bros (2 108 104% Newb'ry (J J)pf(5). 15% 9 Newport Industries 58 3214 N Y Airbrake as0c_. 46 2T% NYCentral RR___. 467 17% N Y Chicago & St L. 85% 363 NYChi&StLpf_. 17% 10% N Y Dock pf——_ - 24 N ¥ Investors (d) 5% YNH&H (d)- 1414 Y NH & H pt (4)_. Y Y FEFE FEF (i TR e T 1O 19 O it 00 00 s 54's Am Woolen pf(33).. % Am Writ Paper (d). 4l Am Writ Pap pf (d) 3% Am Zinc & Lead._ ... 28 Anaconda Cop (1).. 15% Anchor Cap (60c) 3 AP W Paper.___. Archer-Dan-M al’ 4% Armour (lllinois) .. 664 Arm’r(I11)pr pf (6). 47% Armstrong C (1%). T's Arnold Const (60¢). $'x Artloom COrp-—mmme 12% Asso Dry Goods._.. 59 Atch To& S Feal.. 90% Atch To&S Fe pf(5) 21% Atlantic Coast Line 11 AtlGulf & W Ind 13% Atl Gulf&W Ind p! 26% Atlantic Ref (1).. 112 Atlas Powder pf 14 Atlas Tack (a50c)-. 26% Auburn Auto. — 5% Austin Nichol. — 29'5 Austin Nichols D! A 4% Aviation Corp (Del) 2% Baldwin Loco (d)._ 2% Baldwin Loasd(d). 2915 Baldwin Loco pf(d) 33% Baldw L pf asd(d).. 157 Baltimore & Ohio_.. 21 Baltimore & Oh pf.. 4915 417% Bang & Aroos (2%) 118 110% Bang & Aroos pf(7) 20% 13% Barker Brothers... 102'3 82% Barker Brospf_ __._. 20 141 Barnsdall Oil (80¢c) llt% 110 Bayuk C1stpf (7)._. 18 Beatrice Cream (1) 97 85 Beech-Nut P (13).. 16% 13% Belding-Hem (1)__. 313 21% Bendix Aviat'n (a1) 24% 20 Beneficial L (t113%). 62 48 Best & Co (12) 72% 45% Beth Steel 19% 16% Beth 8tl 6% pf(1)-- 1231 107'% Bethlehe Stl pf(7).. 20% 145 Blaw-Knox (40¢c) . 113 109% Bloomingdal 311 167 BoeingsAlirplane ... 63's 41 Bohn Alum&Br (3). 80% Bon Ami A (4) s 39 Bon Ami (B) (2%)- 310s 25% Borden Co (1.60) _... 4 64 Borg-Warner (3) . 3 12% Bridgp't Brass t40cx 13 43'% Briggs Mfg (12)__. 13 47'% Briggs & Strat (3) .. 1 40% Bklyn-Man Tr (3) . 21 97% Bklyn-Man T pf (6) 4'2 Bklyn & Queens___. 44's Bklyn Un Gas (3) - 47'3 Brown Shoe (3) 81 Brunswick-Balke. 87% Bucyrus-Erle.__ 107% Bucyrus-Erie n(('l) 9% Budd (EG) Mfg. - 1 Budd 2d pd..Oct 16.. 8% Budd Wheel 20% Bullard Co (ISGC)__ 26 Burr Ad Mch(160¢c). 2% Bush Terminal (d). 8% Bush Term deb (d)- 1415 Bush Term B pf cod 2% Butte Copper&Zinc. 3 16% Byers (AM) ... 10 - 215 Fed Water Sve (A)_ 38 Fid Phoe F' 1 (11.20) 247 Firestone T&R 1.20. 40 First Nat Strs (2%) 32% Flintkote Co (1) 32 Food Machine ( 24% Fost Wheeler new_. 95% Foster-Wheeler pf 3015 Fourth Nat 1al.45. 63 Frank Sim pf (7). 2314 Freeport-Texas (1). 47% Fuller Co pr pf.. 31'% Fuller Co 2d Dfccee. 3% Gabriel Co (A) 11'; Gamewell Co... 813 Gen Am Investors, 42% Gen Am Trans 1% _. 21 Gen Asphalt (b25¢). 10% Gen Baking (160c T% Gen Bronze .oo.... 5% Gen Cable. o cceaaee 17 Gen Cable A 70% Gen Cable pf—caeee 5914 521 Gen Cigar (14) —eeee 150 140 Gen Cigar pf (7)-—- 48% 341 Gen Electric (1) ... 33% Gen Foods (1.80) . 7 Gen Gas & Elec (A) 14 Gen G&E 6%cv pfA 19 GenG&E 7% pf A_. 58 Gen Mills (3) ... 53% Gen Motors (12) ... 118 Gen Motors pf (5)-.. 5% Gen Outdoors Adv.. 31 Gen Pub Service_ ... 321 Gen Ry Signal (1) 2 Gen Realty & Util__ 33% Gen Refrac 1al%).. 321 Gen Stl Casting pf.. 17 Gen Theatre Equip.. 13% Gillette Saf Ras (1) 6% Gimbel Bros 69 Gimbel Bros pf(a3). 39% Glidden Co (2). . 5215 Glidden cv pf(2%)- 673 Goebel Brew (t2uc). 12% Gold Dust vte (60c) 13% Goodrich (B F) 74 G'drich(BF)pf 21% Goodyear T & R 813 Gotham Silk Ho: 2 Graham-Paig 1% Granby (2d st 314 Grand Union ctfs 16 Grand Unpf387% 24% Granite City Stl (1) x 2813 Grant (W T) (1.40) 32% Grt Northein pf___. 16 Grt North'n Ore (1) 31 Grt West Sug (2.40)x 22 Green (H L)Co(t1) 48% Greyhound C'p 3.20. 1% Guantanamo Sugar. 9% Gulf Mobile & N__.. 63 28% Gulf States Steel .. 120% 105 Gulf S Stl 1st pfil4. 11% 6 Hall(WF)Printing. 21% 14 Hamilton Watch___ 119 109 Hamilt'n W pf 383, 105% 100 Hanna (M A) pf (5) 44% 30% Harbison Walk(2)_. 16% 12 Hat Corp of Am (A) 541 Byers (A M) pf___. 240s 8: 632 g-n‘:.flog‘;_(.z—)- 4 Pkg ershey — ao: Sfiifim“z.“ o) 119 ‘108 Hershey Cpf (t4)_. 4 106 6 Calumet&Hec 8500 116 108 Holland Furn pf(5). 50s 111% 30 Campbell Wy (t1)_. 23% 9 Hollander (1508)——. 9 22% 10% Canada Dry G A. 37% 19% Holly Sugar (2)___. 3415 = o RBuraaltaonnn 144410 1% - % ' 68 — % 551 —13% 116 -6 MW+ 4K 10% + % 51% 108 15% 56% i 441 844 12 14 - aaRcowm 24% Thomp'n Prod aélc. 4% Thompson Starrett. 14% Tide W Asso O 60c. 12% Timken Detroit(t1) 56 Timken Roll B (12) 11 Transamerica t40c. 147% Trans & Westn Afr_ 10% Transue &W (160c) . 12 T4 Tri-Cont Corp a25c. 1097 93 Tri-Contl Cpf (6) _ 111% 111 Tri-Contl pf(6)cald 8 4% Truax-Tra Coal_ 22% 20th Cent Fox Fi 31% 20thCent Fpf1%._. 8% Twin City RT__ 65% Twin City R T pf. 2% Ulen & Co.___. 74% Und-Ell-Fisher (3). 38% Union Bag&Pap (2) 71% Union Carb&C 2.80_ 4 20% Union Ofl of Cal (1) 149‘¢ 108% Union Pacific (6)._. 904 Union Pacific pf (4) 31‘- 22% Union Tank C 1.20_. 20% United Alrcraft. 13 United Alr Line vle 24% United Bise (1.60) _. 22% Unit-Carr Fast (2)_ 68 United Carbon (3) .. 5% United Corp. 40% United Corp pf (3) 10% United Drug (a50c) 15 Utd Lyewood (al%; 4 United Elec Coal___ 82% UnitEng & F (2). 661% United Fruit (3).._. 14% United Gas Imp (1). 64 United Paperb'd(d). 10 U S Distributing pf. 13 US&For'n Secur_. 24% U S Freight (1) _.__ 8015 U S Gypsum (2)-.. 8% U S Hoffman 49 USHoffmanpf2%. 31% U S Indus Alcohol.. 5'3 U S Leather vte__.. 10% U S Leather A vtc__ 213 US Pipe & Fy(1%). 7% U 8 Realty & Imp__. 16% U S Rubber___ 47 U S Rubber 1st pf_. 72 U S Sm & Ref (a8)_ 4 46% U S Steel .__ 140% 115% U S Steel pf (4) 7% 5 United Stores (A)_. 84% 57% Univ Leaf Tob (13). 7 3% Util Pwr & Lt (A) . 1 Vadsco Sales Corp.. 30 Vadsco Sales Co pf. 16% Vanadium Corp.... 28% Van Raslte (al%). 41444 w0 & 237 2% 14% 27% 164 Lakes Shipments Expected to Reach Peak Since 1929 By the Associated Press. CLEVELAND, September 15,—Great Lakes shipping executives expressed « confidence today that the 1936 sea- son would shatter early optimistic esti- mates and prove to be the greatest year for iron ore and coal movement since 1929. Aggregate shipments of iron ore they anticipate will exceed 46,000,000 tons. Revised estimate of coal ship- ments places the seasonal figure at ap- proximately 41,000,000 tons. The ore movement in 1929 reached 65,000,000 tons and the coal movement « 37,933,249 tons. NEW YORK COTTON By the Associated Press. NEW YORK, September 15.—There was sufficient trade buying and cover- ing to cause moderate advances in cotton during today's early trading, but prices later sagged off under hedg- ing and liquidation. December sold down from 1211 to 12.03 and May declined from 12.05 to 11.98, with the midafternoon market* showing net declines of about 3 to 3 | points. ti+l+ o e FEEEL 0 R B WSS h ®RAN DD NN FEELESE L) 114 5% 34 13 95 % Ontario & West 513 Rys pf stpd(d).. 15% 9% N Y Shipbuilding. 96% 657 N Y Shipbldg pf(7 300 210 Norfolk & W (18) 111% 105 Norfolk&Wn pf(4). 10% 6% North Am Aviation. 351 23% North Am Co (1)_.. 1061 98 North Am Ed pf(6). 36% 23% Northern Pacific_. 57 50 Northwest Tel (3) 121 Ohto Ofl (50€) ecuem 17 Omnibus Corp vte 14 8 Oppenheim Collins. 32% 24% Otis Elevator (60c). 20% 12% Otis Steel._. 164 128 Owens-Ill Gi (5) 17% 13 Pac Am Fisher (1) ke FEEEESREE FPEFFFEFE ¥ FE ¥ % Sl 1g [ 1 & - i+ 24% 317 46% 111 18 101 174% 112% 1% 21% 94 14% 284% 45% '0! 11 l & 17% 25 A S ) - 30% PacificG&E (1%). 47% Pacific Ltg (2.40) ... 14% Pacific Mills ... 67 Packard Mot (a25c). 18% Panhandle P&R pf.. Y 67 Paraffine Co (12)--- 109 103 Paraffine Cor pf (4). 12 7% Paramount Pict__.. 87% 59 Paramount 1stpf__ 12% 84 Paramount P 2d pf- 28Y% 174 Park & Tilford.. 5% 2% Park Utah 50% 40% Parke Dav 2813 23 Parker Rust P13 _. 44 Parmelee Transp't.. 6% Pathe Film Cor] 10% Patino Mines_ 113 Peerless Motor. 69 Penney(JC) (a2 141 sroeesFE sy 5 w8 8 378 xsssesss P Z000omn© & 2100080 N0 o B 1Ot 1+ + POV 44440001+ 0401 4444+ . ¥ OFRNEL FELEET +4 1 &8 FeE Cottonseed Oil. Bleachable cottonseed oil futures closed steady. September, 10.10b; October, 10.16b: December, 10.23; January, 10.21-22; March, 10.29-30. Sales, 158 contracts, including 10 switches, b—Bid. 9 1t 10 1 0120 8 03 10 O (RN 30% — 54 —l 2 l&lfi 55 127 127 121 +1 10% 10% 10% — % 20% 19 19% — % 115 116 115 A 104 104 104 14 45% 43% 45% + % 4 15% 15% 154 — % 5% 60% 105 111% 22% 341 28% Penn Dixie Cpf A 17 Penna Glass ctfs 28% Penn Raflroad (al). 30 Peoples Drug (11)., 38 Peoples Gas Chi.... 16 Pet Milk (1)-. 12% Pet C'p of Am ab0c. 10% Pfeiffer Brew (1.20) 25% Phelps Dodge a75c_ 3% Phila Rap Tr (d) . 1% Phila & Read C&I_. 38 Phillips Petrol (11) % Phillips P rts Oct 5. 515 Phoenix Hosiery___ 114 Plerce Petroleum... 30 Pillsbury F1 (1.60)- 35% Pitts Coal pf. % Pitts Screw&B B0c— © it 10 EEr =) EFE FEFFEF Liverpool Quotations. LIVERPOOL September 15 (#).—Cotton. 6.000 bales; American nil: spot moderate business done: prices 7 points lower. Quo- tations in pence: Strict good middling, : good middling. 7.39: strict middling, middling. strict low middling. fow. miadiing. " 8.34: _stric 5004 ry. 6.14: good ordinary. 5.84. Fi- closed aquiet and steady. Oct 55: December. 6.40: Januars Staren, 6.44: May. 6. July, 6.33. CHICAGO GRAIN & Baomo-Bn 48% 1313 114% Virginia Ry pf (6) .. 2% Wabash (d) Wabash pf A (4) 914 Waldorf Sys 11.20_. 30 Walgreen Co (2)... 26% Walker (H) (2)aeea 5% Walworth Co.._. 107 Ward Baking A Sa 3 a2.8 i ©.%67 - NP ON A more interested in scenery than in banking while he was away. Harry G. Meem, president of the ‘Washington Loan & Trust Co., has returned to the bank after a month’s wvacation, which included an extended tour through New England. Victor B. Deyber, chairman of the 107% Canadian Pacific... 87 Cannon Mills (a2)-. 6% Carriers & Gen 206 921 Case (J [)Co ... 54% Caterpillar Trac(2). 21% Celanese Corp as0c. 19 Celotex Coro.. . 25% Cent Aguire (t1%). 58 47% Cerrode Pasco (4)-. 44% 39% Houd-Hersh A(2%) 54% House Fin A (13)__. 22% Hud-Hersh(B)t1%. 6% Houston Ofl vte___. 48% Howe Sound (13) . 31% Hudson & Manhat_. 8t Hudson & Man pf_.. 13% Hudson Motor Car.. 1 Hupp Motors...... 18% Illinots Central__. 42% 42% 62% 29% =8 FTOTH < JOTe 36 49 3 Pitts United Corp_— 58% Pitts United C pf... 21 Pitts& W Va____.. 11% Plymouth Ol (1).—. 12 Poor & Co (B) --mscmn 43 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(f1%). 2% Ward Baking B 9% Warner Bros Plct.. s Warner-Quin (d).-. 4% Warren Bros. 21 Warren Fdl’!&P(l) 19% Waukesha Mot (1) - 33% Wesson O&S(150¢c). 78 Wesson O&S pf (4). 91% West Pa Elec A (7) 96 West Pa Elec pf (7) Iy o O B 00 By tne Associated Press. by reports that Italy had the Chicago market late veloped firmness. CHICAGO, September 15.—Stirred” bought 1.+ 800,000 btshels of Canadian wheat, today de- A further stimulus was that for the fourth successive day Canadian rural 19% 8% Certain-teed (new). 67 57% Certain-teed 6% pf- 21 - 19 ChampPap&F (1). 104% 101 Champ Paper pf(6). 86 59 Chesapeake Corp(3) 51 Ches & Ohio (2.80)_ 27% Chi & East Ill pf(d) 1% Chi Grt West () ... 4 ChiGrtWpf(d) . deliveries of wheat fell below last year's totals. Frost tonight was fore- cast in northwest sections of the American grain belt. Wheat closed taut at the same as yesterday's finish to 1 cent higher, September 1.13a 1.13%, December 1.11%a%s; Corn l4a% advanced, Sep- 123 116% West Pa Pwr pf (7) 12% 8% Wenarn Maryland. 28% 1 9% 95 board of the Second National Bank, is back from a month’s vacation, divid- ing most of his time between Atlantic City and Asbury Park, N. J. Laurence H. Riggles, president of the District of Columhia Life Under- writers' Association, attended the Phoenix Mutual Life Insurance con- 122% 117% Proc & Gam pf (5) . 49% 39 PubSvoNJ (2.40). 58% 36% Pullman Ine (1%)-. 24% 16 Pure Oil 118 91% Pure Oi1 6% rf._-_ 133% 103 Pure 011 8% pf. - 17% 9% Purity Bakeries 400 14% 9% Radio Corp 681 Radio Corp Df A 8% 30 Illinois Cent pf ( 25% Indus Rayon (1. ‘l) e Y 3= 72% West'n Union (a2)_. 48% 34% West'gh’'se AB (1). 147 9413 Westingh'se El (4). 1sou 123% West'g'se 1st pf 335 82 22% Weston El I (a25¢). 5% Ins Sh Md ctf al9c_ 11% Interboro R T (d)-. 9%, Interlake Iron ... 2% Int Agricultural.... 22% Int Agricul pr pf--. 69% 6% 2% 12 wvention at Hot Springs, Va. Banks Hold More Securities, Security holdings, banks. loans and dis- eounts and deposits were increased by 14,055 commercial banks having Fed- eral deposit insurance during the year ending June 30, it was reported today. These banks are said to hold 97 per cent of total deposits in all commercial 2% 5% 12% 20% 60 8 1% Chi Mil 8t P&P (d). 2% Chi M St P&P pf (4) 6% Chi & N W pt (d) . 12% Chi Pneumatic Tool 40% Chi Pneu Tool pf-_. 3% Chi RI&P 6% pf td) 3% Chi R I&P 1% pf(d) 19% Chi Yellow Cab (2). 19% Chickasha COal%. 85% Chrysler (ICK)_—- 15% City Ice & Fuel (2)_ + % =1 56% 185% 160 Int Bus Mach (16) - 35% Int Cement (2) .- 56% Int Harvester 2% . 2% Int Hydro Elec (A). 4% Int Mercantile Mar.. 43% Intl Nickel (1.40) . 3% Int Paper & Pw (A) 1% Int Paper & Pw (C) 20% Int Paper & Pw pf.. 3% Int Ry Cent Amer__ 19% Int Rwy Cent A pf.. 15 Int Silver._ ... - 9% 5 Radio-Kelth-Or (d) 11 RRSecIllCent___. 287 Raybestos-M (1%4). 35% Reading (2) 9% Real Silk Hi 1% Reis (Robt).. Robt) 1 12% Reliable Stor 334 37y 28% 1% 5% 1n 56% 19% Westvaco Ch t40c_. 32% Westvaco 5%pf 1% 21% Wheeling Steel .. 18% White Motor.. 13% White Rk M S(1.40) 2% Wilcox Ofl & Gas__. 6% Wilson & Co (50c)-. 44% Woolworth (2.40) __ 23% Worthington Pump. 56 Worth Pumppf A_. 47 Worth Pump pf B_. 62% Wright Aero__. BE S EEERE X2 tember 1.13!;, December changed to 10 cents down. 3l 10° 115 Toom 1io% 9512a%; oats lgal4 off, and provisions une W'HEATA]ODGH Htlh low‘ = 3 681 684 86% 72% City Ice&F pf (6%4) lg L’é%h-* i 4% City Stores_._____. 23% Clark Equip (1.20) 33 Clev Graph Br (2)_. 83 + % % — % 34% — 5 38K% - % Assets of the institutions were listed at $53,600,000,000 on last June 30, an increase of 13 per cent in 12 months. Bank-loans and discounts rose 4 per 63 Wrigley W ir @B 33% Yale & Towne (60c) 8% Yellow Truck.____. 42% Young Spr&wW ('3) 23% 23% + % 111 111% + % 99% 99% 49 50 +1% 12% Int Tel & Tel._.. 10% Interstate Dept Str.. 82 Int Dept Strs pf(7). 29% 24% Island Creek (2)_- 40% 41% — % 18% 18% — % 26% 26% — 50% 50% — % | Moy eent to $15,000,000,000 and holdings of other than Government securities were fixed at $7,500,000,000, a rise of 11 per cent. Government obligations, both direct end fully guasranteed, totaled $14.- 800,000,000, an increase of 20 per cent during the year. Financial District Gossip. _The limited number of Washington holders of Western Maryland Rail- 58% 112% 28% 48 Cluett Peabody (1) 84 Coca-Cola (2)__———. 13 Colgate-P-P (50¢) 39% Collins & Alk 13 107% Collins & Aik pf (7) lonial Beacon..... 3% Colo Fuel & Ir (4)-. 30 Col Fuel & Ir (new) 28% ColoF &1 pf (d).. 19% Colo & South 1st pf.- 14 Columb G&BE (a20c) 90% Col G & E pfA (6).. 80% Col G& E pf (5) . 31 Colum Piet vto (1) 57% — % % 40s 112% 112% 112% 20s 26% 26% 26% —1 4 108% 105% 106 T % 10s 101 101 101 -1 88 Johns-Manville t2_ 5% Jones&Laugh 7% pt 39% Kalamazoo Stove 1. 13 Kans City Southern 19% Kans City South pf.. 17 Kaufman Dep S (1) 25 KayserJ&Coal%. 20 Kelsey-Hayes (A)_. 18 Kelsey-Hayes (B).. 14% Kelvinator (160¢) .. 281 Kennecott C (1.20)- 17% Keystone 8&W (2)- 30 Kinney (GR) pf--- SEFRFLRSEES 2 114% 08 112% 114 114% — 111% 111% —1% 41% + % 22% + % 45% + % 25% + % 25% 22 +% 19% = % 20% 48% — % 21% — 89 -l 58% 35 45% 35% 12 114% 25 Reynolds Sprg (1)- 50 Reynolds Tob B (3) 19% Ritter Dental 32 Roan Ante (b7 27 Safeway Stores (2). 108 Safeway Strs pt (6) 110% Safeway Strs pf (7) 29% 22 St Josepr La (80¢c). 6% 2% St L-San Fr pf (3)- 127 127% -2 26 26 110% 110% 32 32U-% 23 57% 57 57 + W 128 2% 28 —% 2 46% 46% 46% + % 5 3 30 30 +% 100s 111 111 111 90s 112 112 112 2 61 10s 127% 3 26 1 110% 9 -82% 84% 122 1056 Ygstn S&T pf(5%). 39% % 41% Youngs'tn Sheet&T 81! 80% 81 + % 3121 121 121 lg 38% 37T% 37% ™ OTh Tu-% 11% Zenith Radio._.. 5% Zonite Products. Approximate Sales of Stocks on the N. ¥. Stock Exchange, | 5¢¢ 11:00 A M. 330,000 1:00 P.] I.._.._ 12:00 NOOR..._... 570,000 690,000 2:00 P..I..-..-_. 800,000 1n the above table are last, yesr, Cash wheat, No. 1 mixed, No. 1 yellow, 1.14%; No. 1.15; No. 2 mixed, 1.14J2; corn, lake billing. 2 yellow, way preferred. have been surprised by 86% 6% e % s j\unn of 28 points in the stock in the past few days, and resulting in re- fiewed talk of possibilities. The stock jumped on the New York Crub from 82 to 105. The stock has never paid dividends but has an accumulation against it of about $26 a share. The feeling prevails in Baltimore that the road may be considering paying off 421 Colum Pleevpf2%. 94 Colum Carb vtc(t4) 81% 44 Comel Credit (14)_. llS 100% Comcl Credit pf 4%. 8 55 Comecl Invst Tr (4). 14% Comcl Solv (60¢) ... 2% Comw & Southern... 59% Comw & Sou pf (3). 7 Conde Nast Pub__ 30% Congoleum-N(1.60 15 ConnR&Lpt 4% Kresge Dept Strs__. 20% Kresge (S 8) (11) . 110% 101 Kresge (S 8)pf(7)- 35% Kress(SH)&Co new 19% Kroger G&B (1.60). 20% Laclede Gas (St L) 32 Laclede Gas St L pf 15% Lambert Co (2) 7% Lane Bryant. 12 Lee Rub&Ti: i 15% Leh Port Cmt a25c.. 1.14%: No. 3 yellow, 1.14; Illinois proportional, No. 1 yellow, 1.15; No. 2 yellow, 1.15; No. 3 yellow, 1.14%:: No. 4 yellow, 1.14; No. 5 yellow, . 1.13%-14%; No. 3 white, 1.29; sampie grade, 1.10-11%;; oats, No. 1 white, 45-451,; No. 2 white, 45-46%; No. S white, 44; No. 4 white, 423; sample grade, 397:-413; no rye; barley feed, from the redemption and sale of bonds over and above the cost of such bonds amounted to an additional $39,- 998, and this sum is included in the bermm distribution payable Septem- 15, —_— BANKERS’ ACCEPTANCES #»NORTH AMERICAN BOND TRUST ASSETS CLIMB Special Dispatch to The Star. NEW YORK, September 15.—The semi-annual report on the adminis- tration of North America Bond Trust for the period ended August 31, 1936 B. & 0. LOADINGS DROP MODERATELY IN WEEK Epectal Dispatch to The Star BALTIMORE, September 15.—Car- loadings on the Baltimore & Ohio Railroad for the week ended Septem- 46 46 2 123% 123 123% —4 12 79 8% 8% — % e 118% 113!& lll% !‘ 8% =1 lMfi 3% 67% 8 33% 16% 25 45% 18% 11% 12% ?.,,szn part of these dividend arrears. The Women Committee of Wash- ington Chapter, American Institute of Banking, held its annual educatioaal dinner last evening at the Mayflower The chairman, Miss Kather- ine W. McCalmont, presided, and sev- eral very interesting talks were heard Hotel. by an attendance of nearly 100 e Rutland R. R.—Deficit, seven months ended July 31, was $203,227, against daficit of $316,534. k 8 Consol Cigar . 2% Con C pr pf ww 274 Consol Edison (2) . 4% Consol Film ... 15% Cons Film pf (31)_ 3% Consol Laundries__ 11% Consol Oil (60¢) ... 6% ConsolR R Cuba pf.. % Consol Textile (d). 12% Cons C (Del) pf vte. 15% Container Corp (1), 10% Contl Baking (A) . 1% Contl Baking (B) . 67% Contl Baking pt (8). 674 Contl Cad (3) ceecue 8 10% 82 - = - PROPIRS-ToTo8 -1 - 315 94% Lehigh Por C pf (4) 2 Lehigh Valley Coal. 9% Lehigh Val Coal pf. B}f Lehigh Valley R R 89° Lehman Corp (13)-. 6% 12 Lehn & Fink (1%). 189 37% Lerner Stores (2) . 4T% Libby-Ow Gl(a2%). 7 Libby McNeill & L. 25 Life Saver (1.60)__. 97% B 160% Ligg&Myers pf (7). 19 Lily infl.m(l*) Lima Loosomotive-. 28% m- 116 116 116 2 2% 2%+ % 12% 13 + W 1% 17% — % 2 109% 109 109 1 15% 15% 15% 6 58 b56% 56w -2 16 68% 67% 6T% — % 6 9% 9 9 4 25% 254 25% — % 2106 106 106 1 106% 106% 106% + % 1167 167 167 -1 2 20 19% 19% = % 633 .33..32 «i. shows that market value of bonds held in portfolio exceeded cost by $651,- 334. At the same date, total assest of the fund, carrying security holdings at cost, were $6,266,340. As a result of substantial profits from bonds which have been redeemed NEW YORK, DROP DURING AUGUST By the Assoclated Press. September 15— Bankers’ acceptances outstanding on 31 in the United States totaled $308,112,141, a decrease of $7,416,299 the month and during under August 31, 1935, ber 12 totaled 45,561, including 30,835 cars loaded on line and 14,726 re- reived from connections. * During the same week of last year total car loads were 46,277, compris- ing 31,665 cars loaded on line and 14,612 received from connections. For the previous week (the week ended September 5) the total was 49,995, of which 33,126 cars were June | loaded on line and 16,869 received \ $13,695,270 70-80 nom; malting, 1.10-44 nom:; timothy seed, 5.90-6.15 cwt; new. erop, 5.65-90; clover seed, 15.00-22.00 cwt. Liverpool Wheat Prices. POOL. Benumber 15 (). —Wheat LIVERI futures closed e: