Evening Star Newspaper, September 28, 1936, Page 15

FINANCIA TRADING ERRATIC INFRENCH BONDS Moderate Advances Scored by Corporate Section During Forenoon. Bond Averages IIIL' lndun Ut.ll rorn Net change. +.1 1 41 —1 Today, noon 96.9 103.2 1023 69.4 Prev. day... 96.8103.11025 69.5 94810341024 693 827 998 979 675 97.1104.1 1029 720 8691018 99.3 61.6 87.3102.2 99.8 70.4 764 922 845 655 458 400 64.6 422 1011 98.9102.9 1005 10 Low-Yield Bonds. Noon ... 1126 Prev. day- 1127 Month ago 112.2 Year ago.. 109.8 1936 high_ 112.8 1936 low... 110.2 1935 high. 110.7 1935 low_. 1079 1928 high_ 1044 1932 low.. 86.8 (Comptied by the Associated Press.) By the Associated Press. NEW YORK, September 28.—French loans were erratic in the bond market today as traders sought to readjust prices to devaluation of the French franc. French stamped 7!3s rose about 4 points, following Saturday's decline of 16!z on one sale. Meanwhile French stamped 7s slumped about 19 points. Nord Railway 6!,s turned up 8 points on the heels of Saturday's loss of 6 points. Paris Orleans Railroad 5125 were up more than 4 points. Polish obligations turned forward. Silesia Province 7s and Warsaw 7Ts ‘were both about 3 points improved. Modest gains were turned in by domestic corporate loans, including American Telephone 5s, Northwestern 4%, Columbia Gs & Electric 5s, Inter- national Telephone 5s, Loew's 3!3s, Southern Pacific 4!2s and Erie 5s. The United States Government list was mixed, with gains and losses about even. Treasury 27ss and the 2%s of 1947 were up a little. Under moderate pressure were the 334s of 1945 and the 31ss of 1949. INSURANCE STOC_KS NEW YORK. Septembe York Security Dealers’ A Aetna Cas (2a) Aetna Ins (160) n~_ Life «toa) Eauit_ (la) Ins Newark Reins (3) Reserve (1a). Gen Alliance ( R0) Glen Falls | Globe & Rep ( Globe & Rut Great Ame: (la Hanover (1 60) rmonia_¢ Hartford Fire Home Fire Sec Home Ins (la)__. Homestead (1) s Weateister. (lay —Also extra or ext e—Declared or pnm 56 tar this vear. Ro s Tt ahd White' Rock brotlers. 167 - ored. 15 Leshorn and bareback tr?l(k;m s 42 potnds up. n 472 pounds up. 16'z ored. 13: small white ducks 1 old_geese, 13 youns 11005 unsettled younz ' col- small col- 37 total U Sunday. demand 1da 3 on track shipments Saturday. 698 sieady. supplies libes Sacked. per hundredweight. Burbanks. No. 1,1, eize. 2.40: U. 9 No. % fres from cuts and clipped 5 4 Colorado 15, Brown Oregon Ne- and 1. 165 culls S8 U. 8 N Wisconsin Cobblers, ): Minnesota Cobblers! aded. 1 G0a1.67 12 al North Dakota Cob- 1. and partly sraded, 1.508 mphs. U No. and rlnly &raded. 1.50: Early Qhios, 0. 's. ¥ . and partly graded, 1.40al.7 No, “Burbanks a Bliss Triumpns NEW YORK SUGAR NEW YORK. September 28 (#.—Raw sugsr was_nchanged &t 3.40 for spots, with no sales reported. although offerings were light and there appeared to be nothing available below .50, Futures opened at a decline of 1 _point under scattered liquidati but firmed Jater on increased covering and buying by trade and commission houses. especially ©f the new-crop positions agricultural adjustment figures, deliveries ht tong raw value. as compared with 4. ame period last year, little better than generally an: ticipated and may have accounted for jome of the buving. - November rallied irom 250 to 2.51 and March from 2.4 1046 0r T (673 potats Rer hiner. snd were holding around these levels at’mid- éa; Refined was unchanged at 475 for fine sranulated althouzh some refiners were Silowing & special discount of 3 cents per hundredweight on sugar taken out within 10 daws and 113 cents per hundredweight on deliveries between the 10th and 20th Demand, however, was said to be NEW YORK PRODUCE. NEW YORK. September § undergry special packs. 24 Y20’ ed Tats. fre O onitey weak. By freight, chickens: Rocks. 19a: d d_with FOREIGN HARKETS LONDON. September 28 (#.—Early gains 4n g0l shares and. trans-Atlantic issues on the stock exchange were maintained. §it fears'of French seifing tended to depiess ilt-edged securities and oil issues. To- Qauo and railroad shares closed fractionally bonds 'l%r‘ehqum:fl foreig uires finished 27 10 35 pence lower on Teports of rains im ‘Austrafia and Argentina and lower North Rnerican markets ‘Cotton closed siightly higher. the three- Ser “monetary” arranzement and heavy Sine in the weatern belt were Bullish face ors. Poreign and speculative buying aiso came tnto the marke! PARIS —Bourse ciosed. MONEY MARKET. NEW YORK, September 28 (F).—Call money lt!ld! 1 per cent all day. Prime m ‘el “iv" pex;heent” ‘ime ‘°::§ ays-6 months. 4 per ce oflerefl B.nun acceptance: m nd fln no tays nths. 38k ludll- count .ate, New Yurk Reserve Bank. 1% per cent. STEEL QUOTA'HONS. lnno-lefl sheets zed sheets. Rk shests. h 0, Steel bars, 1.9, ., STAR, WASHINGTON BONDS ON N. Y. STOCK EXCHANGE By private wire direct to The Star. FETBLYL Y — 2%5 194851 ccmne 2% 81951-54 o 2%8°56-59______. 27481956260 eome 381946-48____ 35195155 ______ 3148 1946-49_____ 3145 1949-52 3381941 315 1944-46 338 1940-43 June 385 1941-43 Mar 4S 194454 ______ 4148-3% 8194345 4Us194752 . 4105 1947-52 reg_ 2%! 1942-44. 193949, Agr Mtg Bk Col 68 ‘47 Febr coupon on.. Akershus 68’63 Antioquia Antioquia Antioquia 7s'45 D ... Antioquia 1st 78 '57.. Antwerp 6s ‘58 Argentine 53;s '62. Argentine 68 °57 Argentine 68’59 Oct__ Argentine 68’60 May_ Argentine 63 ‘60 Sept.. Argentine 6s 60 Oct .. Argentt Australia 4 Australia 5 Australia Austrian 7 Belgium 6s ‘55 Belgium 6345 Belgium Belgium 27957 Brazil 7s ‘52 Brazil 88 "41__ oo Brisbane 68 ‘57 eeeeo. Brisbane 6s '58._. Buenos Aires Buenos A C Buenos A 6s Canada 2% Canada 3% Canada 45 '60_ Canada 63 '53_. Chile 6 '60 Chile 65’61 Jan Chile 68 '61 Feb: Chile 65 ‘61 Sept._ | Chile 6362 | Chile 63763 | Chile 7s *42 Chile Mtg Bk 65 Chile Mtg Bk 638 '57. Colombia 63’61 Oct _. Colombia €s ‘61 Jan Col Mtg Bk 7s '47 Jopenhagen 4138 °53__ Conenhagen bs '52 Copenhagen T 5s '54_- | Cuba 435549 __ = | Cuba bl%s45 - | Czechoslovakia 8s '51. Denmark 4%s ‘62 Denmark 5% Denmark 6s "42 Dominie 1st 53 *42__ Dominic 2d 5%s ‘40 El Salvador 8548 ct__ | Estonta 7s%67____ French Gov 7s '49 French Gov 7% French G 7% Ger C Bk A 65°38 Ger C Ag Bk 68°60 Ol:t GerCBk A 78’50 ... | Ger Gen Elec 6548 __ | Ger Gen Elec 61,8 "40_ Ger Gen Elec 45 Ger Gov 5338 "65 st Ger Rep 7s 49 stpd __ Grt CElJap 6%s '50_. Haft! 6s 62 Hung Con M 78 ’(GA Italy 78 °51 Ital Crd P W 7s *47 B_. Ital P U Crd 78’52 Japan 63’65 an 6348 '54 Kreus&Toll bs ‘59 cfs_ Medelin 61854 Mex 68 '33 asst Ige_ Mllan 6%s ‘62 Minas Geras 61,8 59 Sept coupon on,_. Montevideo 78’5, New So Wales Bs '51 = New So Wales Nord Ry 6%s 50 Norway 4% 8’65 Norway 68’63 Norway 6343 _ Oriental Dev 5348 58 _ Oriental Dev 6s 53 _ Oslo 4%8°56 OsloG & E 5563 Panama 6s '63 stp Panama 54853 — Paris Orl Ry 6%s "68_ Peru 6s°60 Peru 6s'61__. Peru 78 %59 Poland 6s°40. Poland 8s '50 Porto Alegre T%s %6 July coupon off Porto Alegre 8x 61 June coupon off _ Prague Gtr 7%s '5. Prussia 6s'62 Prussia 6%s '51_. Rhein Main 78’50 . Rhine W EI P 68 Rio de Jan 6 %8s 'Cl Aug coupon off._. Rio de Jan 85 %46 April coupon off Rio Gr do Sul 68’6 June coupon off Rlo Gr do Sul 7s 66 May couponofft __. Rio Gr do Sul 78’67 June coupon off ___ Rio Gr do Bul 85 46 Rumania 7s 49 Aug coupon off . Sao Paulo C 8s'52 coupon off Jro— Sao Paulo St 78 '40 Saxon St Mtg 638 "46. Serbs 78’62 unmeo - Shin’su El P 6%s '52 Silesia Prov 7s ‘58 Sydney 53%s "56 Taiwan Elec 6%s *T1_ ‘Toklo 63%s *61 Tokio E L Ltd 6 53 __ Un St] Wk 6%s°47 A_. Un St! Wk 6368°51 A_. Uruguay 6s ‘60 Uruguay 8s 46 Vienna 6s'52 May eo_ Warsaw 7s 58 - Westphal E] Pw 6s 53 Yokohama 6s 61 Allis Chalmers ¢s "45. Am & For Pw 68 "3030 Am Icecv 68’53 % AmT& T 4%8'39 AmT&Tecltrbs’46... Am T & T deb 6860 _ Am T & T deb 53 °65__ AmT& T6%s"43 Am T F 2%s-6s 38-50 Am Writ Paper 68°47_ ‘Anaconda deb 4% °5/ Ann A lstexinds H) Abitibl Pa&Pw bs '53 . 1014 © 1082 10119 101, 102.20 105,30 104.26 1 106. 109. 1085. 108.4 109.1 113.30 104.2 605 1974 9673 8% 19%4 97 8% 4 97 10074 101 100 1003 100%% 1008 10084 { 1013 10085 10214 10875 10834 97 1043 10734 11434 105% 242 2044 927y 9714 i 1005 9614 b6 994 9814 10014 i 1043 % 5 68 9% 2434 144 144 140 9034 991§ 22 79 8% 6734 85 100 45% it 7 684 157 6055 1041 10425 125 971 10134 10434 79 23 981¢ 10035 663, 105%4 22 81 80 835 8534 10034 5% 9% 7% 681 16 6015 1041 1043 130 973 10435 9 83y 981 10034 67 115 121 124 15% 56 DOMESTIC BONDS. Adams Express 4s°47. 108} 103}{ 103} Alb&Sus 3%s *46 gtd... 108% 108% 103% 99 118% 11234 106 106% m m 11134 11134 113% 113 Approximate Transactions Today. 104.14 1049 1049 102,22 102.18 101.26 101.4 102.27 106,30 10428 106.30 106.13 109.1 108.7 108.9 109.2 1141 108.15 108 13 11829 11827 118.29 118.26 118.29 FEDERAL FARM MORTGAGE. 104.5 103.17 103.15 103.15 HOME OWNERS’ LOAN. 101.23 101.22 101.22 101.24 101.19 101.19 103.14 103.9 1039 102.18 10119 101, 102,22 105,30 104.26 106.27 106,12 109. 108.6 108.4 109.1 113.30 108.13 118 27 104.2 . Low. Close. 61 1974 97 84 8% 8% s 97 100% 101 100% 1014 10074 101 1005 1013 100% 10234 109 108% 97 10435 10715 1145 10534 24% 2644 215 181 1314 2034 20% | 2044 2% 9734 1004 9614 687 993 Y844 10014 1043 7% 784 6815 96 2434 144 144 140 100 5y it % 681§ 16 605 10414 104% 130 97 10134 10434 79 83 981 10034 67 10535 115 12 12 18% High. Low. Close. Arm & Co 4%s"39 rg_. Armour(Del)1st ¢8'66 Armstrong C'k Atl Coast L 1st 43 '52. Atl Coast L clt 45 ‘52 AtiCLun 448’64 Atl Coast Line 65 °45._. Atlantic & D 1st4s ‘48 Atlantio & D 2d 4s "8, At G& W I 68°5Y. B&O st j L SO B&0O 4%8 60 caueo.. B&O1stbs’48 . & Oref 5895 Ao &O68'96F _ _____ &O ref 68 2000 D B&Oref 6395 C B & O PLE&EW V 45’41 Bell T of Pa Bell T of Pa 6 Beth Stl 4%s Bos & Me 4% °61J_. Bos & Me 68 °67. . Bot Con M 6148 °34 Bot Con M 6%s 34 ct_ Bklyn Edison 5549 A_ Bklyn Man Tr 6s'49 A Bklyn QueensC& S con 58 *41 stpd. Bkiyn Un Gas bs Brown Shoe 3%s Buff R&P con 4%s BCR&Ncl 68’34 Bush Term con b Bush Term Bld, By-Prod Ck 5%s "45_ Can'dlan N R 418 '56. Can’dian N R 4138 67. Can’dlan N R 4% s *55. Can’diap N 6869 July Can’dian N R 68’69 Uet Can'dlan N db 6% 5'46. Can’dlan P db 4s perp. Can’dlan Pac 4 %8s ‘60 Can‘dlan Pac 55’44 cfs Can’dlan Pac 6s ‘64 CaroCl & O 5538 Car & Gen 6s 50 ww. Cent of Ga 68’59 C___. Centof Garf 5%s ’59.. Cent Il E& G bs 61 Centof NJ 45°'87 Cent of N J gen b Cent Pac 1st rt ¢ Cert’d deb 63 Chesap Cev b: Chesap Corp 68 ‘47 Ches & 0 3%4s'96 D. C& O con bs 39 C&OR&A 1st 45'89_ C& O gen 435892 Chi & Alt ret 3s 49 Chi B & Q gen 48 ‘6 ChiB&Qref 6’71 __. Chi B&Q 1 div 3%s 49 Chi B&Q | div 48749 __ Chi& E (116861 ____ Chi & E 111 63 51 ctfs_ ChiG L&Cb8'37___ Ch1 Grt West 4s '59._ Chi Ind & So 4s '56 CM&StP gn 3138 89 B. < | CM&SLP 45 '8y CM&StP gn 4355 '89 C. CM&StP 41;8 '8! CM&StP b8 '75__ CM&StP&P adj bs2 Ch1 & NW gen 3158’87 Chi & NW 4345 2037__ Chi & NW 4138 2037 C. Ch1 & NW 43, Chi R &P rf 48 '34 ctf | Chi R 1&P gen 45 '88__ Chi Rys 1st 68 "27_. 0 Chi T H&S 1st bs Cht Union Sta 68 *44.. Chi & W 1 con 4s 52, Childs & Co 68’43 ____ Chile Cop deb 6s *47 Cin Un Ter 3%s D gtd CCC&StL StLdv 45'90 CCC&St L gen 4s"93__ CCC&St L rf 4%s' 178 CCC&St L ref 63’63 D. Clev El Illu 3% s "65__ Clev Short L 4158 '61_. Colo Fuel & Ir 58 '70__ Colo& So4%s'80 ___ Columbia G & E bs '52 May Columbia G&E Co A NY 34866 n | Cons Gas N Y 4%s ‘51 | Cons Pwr 31,870 Container deb 68 *43 Container 6s '46 CrownC&S4s’s Crown Will P 68 "6 Cuba RR 1st 68 '52 Cuba RR 65 '36 Cuba Northn 5348’4 Cumb T&T 58’37 Dayton P&L 338 '60... Del & Hud ref ¢s ‘43._. Del & Hud 6% Del P& L 415’69 Den & R G con 43 36 Den G & E 6s * Den& RG W b3 G Den & RGW 58’55 asst Den & R G ref 5518 Des M & Ft D 48’35 cfs Detroit Edis 43’66 F _ Det Edison 414561 D Det River Tun 4%s ‘61 Dul & It Rg 5837 _ Dul SS & At 5837 7 El P&S W 55 " Erlecv 45753 A, Erte gen 45 '96. Erieref 58 Erfe ref 5375 Fed Lt & Trac Fla EC Ry 4%s '59 Fla EC Ry bs 74 Fla E C Ry b8 74 ctfs Ft W&Den 1=t 535 61 Fran Sug 7%s "42 Galv H& H5%8°38___ Gen Cable 635 ‘47 Gen Pub Sve 5%s 39, Gen StICb5%s 49 Gad& Ala bs'45___. Grt N R ref ‘%!‘ll A GrtN R gen 4148’76 D Grt NRgen4% "7 E. Grt NRgenbs’73C_. Grt NR6%8s"62B___. Gulf M & N 68 '50 Gulf Sta St15%s ‘4 Hoe (R) & Co 6% '34. Houston O11 5%s *40 Houston&T C 1st 58’37 Hudson Coal 68’62 __ Hud & Man inc 68 '57... Hud & Man ref 5s '57... I11 Bell Tel 3%8 70 .__ 52 3| 111 Cent col tr 111 Cent col tr 48°63_ I Cent ref 48 ‘66 ... 111 Cent 4% — Il Cent ref 68 "65 .. Il Cent St L 3s "5 IiCent St L3%s 51 ICC&StL N O 4445'63_ ICC&StLNO 68’63 _. I11 Steel deb 45840 Indianap U R 338 '86. Ind & Louisv 4s '56. Inland St1 3%s ‘61 Int R T 1st rf 6s ‘66 IRT 1strf 6866 ctf: Int RT 78’32 ctfs ___ Interlake 68°61 . Int Cement 48 °45 . IntGrt Nrés 52 A___. Int Grt Nradj 6s°52 A. int Hydro E) - Int Pap 18t 68°47 A IntRT 633 73% | Int Pap ref 65’66 .. 112} 106 m 11134 118% ll’ll‘ 6 146k 4835 ntx 10834 2% 124 4856 10834 234 IntRyof CA 6s°41... Int T&T cvé¥%s 39 . Int T&T 4%s8 int T&T 68 55 Iowa Cent 1st&rf4s’51 James F&C45°39 _. Jones&L Stl 4% s'61A. KanCSolst3s's0 .. KanCSorfinbs’s0 . Kan C Term 18t 48 60 Kings County E1 & Pw s '37.. 1041 3 1081 1063 105 105 6839 63 C__ *60 D__ Hl% 1115 111% ” “W 118% 118% | [ oh Val Coal 58 6 111 1103 110% | [ ep Valley Har bs 64 12 ' 'm |LVNYeksogta Leh V P con 45 2003 1024 10136 10234 | Leh V P con 4348 20 High. Low. Close. 101 101 6935 6934 82( 8214 824 IM)( 1043 104 % T4 JDI 10274 1027% 101§ 1013 101} 2% 12 T2% % T 1Y 86 84 85% - 10734 10734 10734 - 12474 12424 124% Loew's 3% s '46 Long Island gen 4s '38 Long Islref 4s'¢9 __ Lorillard 5s 51 Lorrillard 7s '44 reg- La & Ark 68 '69 L& N 1st 48 2003 108 107%4 107% 811 80y 803 113 11234 113 9334 9315 v3l4 92 81l 9% 92 913 9% 1081 1023 102% 10414 10415 1043 10634 105} 106 12136 1213 1213% 12975 1297 uwe 105 104% 811 8114 86 b 261¢ 2574 102% 10835 McKess&Rob 5338 ‘50 MeC RRclt 4545 A _ Me C RR gn 4% 3'60A_ Manati Sug 73%s 42 _ Man S 1st 738’42 ctfa Manhat Ry 4s '90 ctfs. Marion St Shov 6s " Mead Co 6s 45 Met Ed 18t rf 4 | Mich Cent 4158°79 ___ MIER&S L 6s’61__ Minn & S Lrf 45°49__ Minn & S* 1 68 '34 ctfs 4| MStP&SSM cn ¢s 38 | MStP&SSM 55 '38 gtd. MStP&SSM 515 °49__ Mo 11 6569 __ Mo K & T 1st 4590 MoK & T 6562 A Mo K & T ad) 58 '67. Mo Pac 45 *75 Mo Pac 5865 A. Mo Pac bs *77 F. Mo Pac 6878 G = Mo Pacific 68 80 H____ Mo Pac6s'811 Mo Pacific 68 49 A_. Mob & Ohto 4% 5 *77__. Mob & Ohio &s ‘38 Mohawk & M 48 *91 Monong Pub Sve 6s'65 Monong Ry 1st 4s ‘60 Monong Pub S 415860 Mont Cent 6s '3 Mont Pwr ref 5 *43 Mont Power 58 ‘62 A Mont Tram 6s "41 Mor &Essex 3% 8 2000 Morris & Essex 4% 55 Mor & Essex 58 '55___ Nassau Elec 4’51 gtd Nat Dairy 3% 8’61 ww Nat Dis PC 4%s8 45 Nat R M 4145 '26 asst_ Nat Steel 43°66 New E T&T 1st 58 '53. New Jer P&L 4148 *60. % | New Or GNR bs 83 A New Or & N 4145’52 __ New Orl PS§s 65 B _ New Orl Ter 1st 48 53 | New Or T&M 4158 '56 New Orl T&M Inc5s'35 | New Orl T&M 5354 B | New Or T&M 68 '56 C. New Orl T&M 6%s 54 N YCent314s"97 _ 3N Y Central 3% s 46 | N Y Cent con 4s ‘98 ___ 108% 813 8134 10415 106 91y 106 915 116} 114% 119 1185 120% N Y Centrf 6s zuil N Y Cent cves'ds NYCLSh3ys Chi & St L 68 '38_. Dock 1st 45 '51_, Dock 58 '38 Edison 3% s ¥ G El H&P 6s *48 1053 10434 851y 102 107 1024 104 9634 1031 11054 1113 108% 108}4 854 1 YNH&anG-'{I Y NH & H con 4s '54 NY NH&Hecn 45’ aJln NY O&W gen 4s NY O&W ref 4; '9! ANY Putnam 4s '93 Rys inc 6s 65 _ S&W gen 5340 NY Tel gen 414539 NY W & B 434546 Niag Falls Pw 313 5°66 128 Sh 68 '50 orf So 1st 58’41 orf So 1st ref 5s 8614 10035 orf & W PC&C 4s "41 North Am Co 6s *61 North Am Ed 5369 C_ | North Am Ed 5148 '63_ 4 | Nor'n Pac gen 3s 2047 T'n Pac 4897 __ Yor’n Pac 7 reg. Nor'n Pac 415 2047 Nor'n Pac 5s 2047 D Nor'n Pac 6s 2047 North Sts Pw 4% North S P 1st 6541 A_ North Sts Pwr 5s '64__ Ogden L C 4348 Ohio Edison 4s '65 Ohio Pub Sve 748 Oreg RR& N 4546 __ Oreg Sh L 5546 gtd __ Oreg W RR & N 4861 Otis Steel 68 "41______ Pac Coast 5346 __ PacG & E3%s 6 Pac G & E 45 ‘64 PacG & Ebs 42 Pac TE&T rf3%s’66 B Pan Am P C 65 40 ctfs Paramount Pic 6s 55 . Park-Lx 6% 553 ctfs_ Parmelee 6544 _____. Penn Dixle C 6s"41___ Penn P& L 4%s'81__. Penn RR 3% s 70 C. Penn RR 48’52 E_. renn RR 48’63 Penn RR 4% 8’8 Penn RR ¢%s "84 Penn RR gn 4% Penn RR deb 4%s Penn RR gen 6s '6 People G L&C rf 5547 Peoria & B 18t 4340 _. Peoria & E inc 45 *90__ Pere Margq 1st 48’66 Pere Marq ¢%s '80 107} 107% 88 878 100%§ 105 33 1073 165 161 281 83 ( 12 116% 116% 11634 11634 Phila B&W 4168’77 Phila B&W 41881 Phila Co 6s "67 Phila Elec Co 45 *71.. . Phila & R C&1 68°73__ Phila & R C&1 68 49__ Philippine Ry 4s '37__ PCC&St L 4%8°77C__ Pitts&W Va 41858 A Pitts&W Va 4%s ‘59 B Pitts&W Va 44560 C Postal Tel & C 63 82 Pressed St C s '33 __ 1025 10234 5434 37 82 1073 82 102% 53% as 81} 107% Purity Bak bs R-K-O 6541 Reading R 43897 A Rem-Rand 4% 8’66 ww Republic Stl 4148 ’61_. Republic Stl 4348 %50._.. Revere Cop 4% 866 __. Richfield O1) 68 *44 Richfleld O 68 44 ctfs. RioG Weol 4549 A __ RIA&L ist4¢ St Jos & Gr Isl 4547 _. St Jo Ry L T&P b8 '37 St L IM&S R&G ¢n "33 St L-S F 6550 B ctfa_ St L8 W gn rt b8 "90 St L 8 W 1st ter 53523 5]5( StPCtRC68"37 .. StPKCSL4%s'41 Saguenay Pw 4% - 10534 105% 4 4 - 106% 10615 - 1047% - 105% 12434 12434 12434 13534 13435 13534 99 815 98% 104 104 104 m-( 10435 10434 122 122 182)¢ 1321 9734 9734 10234 10234 108 108 110 110 104 104 4634 6674 96% 10534 i 109 1051 10384 5 131 3134 4314 46 3¢ | families a new social outlook; 6715 6734 6734 107 1063 107 105§ 4 10634 126 10734 9215 kil 126 126 10714 1073 1023 1021 lOl‘i 10134 1003 10015 18 17y 961§ 967 95 9414 10435 9814 6519 6114 D 1023 - 128 - 1061 10185 - 10334 { 11014 1314 106%5 1091 i 62% 1834 12014 1053 10514 10575 10634 106 10535 104% 824 82 1098; 1093 1081 10835 10234 10214 108% 1081 1113 1103 - 106% 10635 A 10815 1043 108" 108 3435 3415 10635 10634 112 1123 11285 112% 12035 12015 10634 10614 102% 1021 6514 64 106%; 106%§ 110 110 10074 10074 10434 10414 381 381 96% 9605 3634 3614 7034 7084 941§ 414 106 1057 16134 10034 10634 10635 104 104 10834 1081 10814 10834 112% 11285 10434 104 1205 120% 115% 116 9§ 97y 7% 17 993§ 9915 10235 10214 106 106 1734 11735 11434 11434 106%; 10634 105 108 48 47y 1021 6514 106% 813 8134 1013 10134 1105 1103 1033 10835 8614 8615 403§ 81 61 101 101 101 2 22 2 1085 108 108) . 10134 10134 101} 3434 845 34 1% 975 97 103% 103%§ 103% 903 903 903 974 97 97K 10835 1084 10834 ml!u‘t)(xom Seabd A-F1 68'35 A ot Shell Un deb 3%s "51.. Stlesian Am 7s"#1 .. Skelly Ofl 48 %61 _sc Bocony Vac 3%8 ‘60 19% 19% 9! | Rocks, | Rocks, all sizes, HOMES REGARDED AS BUDGET FACTO Building Boom Would Bring Pressure for Reforms, Review Declares. By the Associated Pr NEW YORK, September 28.—A building boom of single-family resi- dences would go far in bringing pres- sure for Government fiscal reforms in this country, the Guaranty Trust Co. says in its monthly review of business and finance. “Perhaps no greater check to Gov- ernment spending could be devised than an increase in the number of homes occupied by their owners,” the review states. ‘“The social implica- tions of changing a large number of families from rent payers to home owners are fully realized in Great Britain. The boom in moderated- priced homes in that country has placed thousands of new famil'es in the home-owning class. “This transition has given these it has instilled in them a new interest in their localities and removed the in- difference to expenditures by public authorities that is typical of most rent payers.” ‘The bank points out that although the construction industry has im- proved in this country, it still lags behind many other branches of in- dustry. Washington Produce BUTTER—Range of prices to stores sainered irom wnolesale dealers (prices to nearby shippers based on Philadeiphia ana New Ycrk prices): One-pound prints. car- ton (U2 score). i: 1-pound prints, carton (90 score) -bound prints, carton (92 N 1i-pound prints. carton (w0 + tubs (U2 score), 36; tubs (40 Beel 15a10 veal. 15416 lamb fresn nam, oke: ; pork loin, 2% 28 compound. 13; e paid shippers—net fob. Wash. inston. = By the United Slates Bureau of Acricultural Economics EGGS—Markel about steady. uncnanged. Current receipts. he nery whites, 1a3s. Government graded ana dated while egss (net prices paid shippers {.0.b. Wasniogton): U. 5. extras large, 39. U. 8. extras, meamm. Suta. U. 8. siandards. Jarge, LIVE POULTRY—Market n-rexy steady. Prices nominal = Fowl: Colored, nea 1ialh; 19: Leghorns, roosters, - 10 Chickens brollers and iry pounds na up. 21. Del, 1. Legnorns, all sizes, ors, 1818, ' Guineas and up. 40445 each: un #0 each: old guineas. Prices ene aty 247 pounds No. 23, toms, 14 pounds and 1 Fruits and Vegetables. Sales in large lots by original receivers up to X am. today AFPLES —One Pennsylvania. one ington arrived: one broken and three u broken ‘cars on track. Supplies_liber: gemand moderate: market steady. Virsin) bushel baskets: Jonatnans. U 8 3 y-inch: minimum. ®5. iy-inch’ minimum. 13581 10 1.50a1.65. 3. windfails Northwestern areznmu U. 8. No. inch minimum. 7 1.00a1.10: 23-inch #-inch minimum. windfalls. i licious, U 8 N 1.00; 2Va-inch mi inch’ minimum. early. various varief Boxes: Combination_fai Delicious. 1.40a1 v, s e ABBACE--No Carlot arrivals: no cars on (i i e Ky erate’ market steady. New York. 50-pound sacks domestic round type. 1.00: few higher: Pennsylvania, 0-peck oximately 60 pounds arlot arrivals: two broken cars on track . Sunplics moderate. market u'elfl' 0, d: Ariz Salmon meats. ‘standard flats. fs to 125 1.25a1 50 LETTUCE—One California. one Colo- rado arrived one broken and two u broken cars on track. ~Supplies light mand moderate: market stronger fornia, Western crates. Iceberg tyve. dozen’ mostly fair to ordinary i condition. 7.50aK.00: few fine condition. K .3029 00, poorer lo¥ as —No carlot arrivals. n Supplies moderate. de- teady _Califo: New Yo cars of T irack mand_moderate: nia__pony crates. Catskill_section HONEYDEW! ‘market 150a crates. 1.2 e Colonmn one broken and two unmbroken cars on track. Suoplies moderate: demand mod- erate: market steady. rado_ standard and jumbo crates. fs to 12s. 75a2.00. FINANCING TO INCREASE. NEW YORK, September 28 (#).— State and municipal financing sched- uled for this week amounts to $18.- 122,189, compared with the revised total of $15,771.547 for the last week, the Daily Bond Buyer reported. Low. Close. South Bell T&T §s 'll lOr% 10734 1074 So Colo Pwr 6 105% 105% Sou Pacific 3% 9834 98% So Paccol 4849 . 94% 951 S0 Pac ref 48 "56ceee. 10634 106% So Pac4%s (’l So Ry 6%s '66 8 W Bell Tel 3% Southw'n G & E 4860 Staley A £ 4346 1087 105% 100%§ - 120 9834 125 10035 . 11084 103% 10074 1043 7285 3934 101% 9974 10974 103% 1058 1063 10034 10044 115 12034 984 9814 125 125 Studebaker cv Tenn Cent 68°47 .__ Tenn C & 1 RR §s 51 Tenn El Pw 68 '47 Term As St L & Texas Corp 3%s Texas Corp cv b8 Texas & Pac 5877 B_. ‘Third Ave “1' 4560 = l Tol StL& W 48°50 110% 110% 108% 1081 10034 100% 1043 104% 720 72% 391 393 101% 101% 993§ 994 16 116 11434 1144 10034 10034 109 109 1023 1024 12034 121 1071073 108 1084 Vanadium cv V C &P 1st 435834 & Va E & P 1st ref 48 ‘66 Ry 1st3%s'66 A__ 1083 108% 1084 106 10534 108% 8 98 98 1028 102% 102% ‘Wabash 24 6839 . % 95 Wabash Oma 3%s "41_ ‘Wabash Term 4s '54 Walker H&S 434846 Walworth 4s 56 Walworth 6s ‘55 Warner Bros Warner-Quin W Sh ist s 3 ‘W Sh 1st 45 2061 reg_.. West'n Md 1st 48’53 West'n NY&P l'tll‘l‘l 10234 102} 10234 10134 10134 10134 38y 38 38 383 384 384 10874 108%% 10835 1064 106} 10635 10834 10834 10835 102 101% 101% P 2 2 West'n Un 58 (ot 14| Wis C 15t n 4s 105 703 101 1003 101 10815 10634 10536 035 | WCS&D ter 4 36 cfs_ stn S&T 338 °51_ {-::mmu-n_. 1p84 108 1083 10034 10034 8 D. C, MONDAY, SEPTEMBER 28, 1936. 85,000 of Stokely Common Shares Placed on Market Py tne Associated Press. NEW YORK, September 28.—Public offering of 85,000 of common stock of Stokely Brothers & Co., Inc., one of the largest vegetable canners in the United States, is being made by an underwriting group headed by Paine, ‘Webber & Co. The stock is being offered at $17.50 a share. Net proceeds will be applied to the prepayment of $135000 promissory notes, due June 1, 1937. AVERY DENOUNCES LEVY ON PROFITS Montgomery Ward Chief Says Measure Is Based on Destructive Theory. By the Associated Press. CHICAGO, September 28.—Ap- pending his criticism of the Federal surtax on undistributed corporation profits, Sewell L. Avery, president of Montgomery Ward & Co., reported today the mail order and retail sales organization had a net profit for the six-month period ended July 31 of $7,101,856, compared with $4,349,766 the corresponding 1935 period. Avery pointed out net sales for the -ix months were the lgrgest in the company's history, and the im- provement 1n net profit is attributable to the increased volume of sales and to a lower operating cost per dollar of sales, he said. “Heretofore, the company has used a liberal part of its earnings to furnish needed working capital,” Avery said. *‘Out of the 1935 profits of $13,527,000 over $11,000,000 were put directly at work in the business of the company and have contributed to the improved showing which is reflected in this re- port. Cites Other Penalties. | “In addition to the payment of |} heavy income taxes on the total earn- ings of the company, the Federal sur- tax on undistributed profits, as pro- vided by the 1936 revenue act, imposes | penalties ranging from 7': per cent | to 37 per cent of the earnings re- | tained in the business. “This statute 1s unsound in prin- ciple and follows a confiscatory and | destructive theory of taxation, because | it penalizes the retention of earnings needed to safeguard the company's| financial condition. If the penalty | be avoided by the unwise payment | of dividends the company’s growth | and security are retarded and jeop- | ardized. In effect, this statute rejects | the experienced judgment of the man- | agement acting in its capacity as trus- tee for the stockholders and substi- tutes an unreasonable and arbitrary governmental control which is def- initely harmful to our service to cus- tomers and to the interests of the company and its stockholders.” Equals $1.40 a Share. The six months net, after provid- ing for class “A" dividends, repre- sents an earning of $1.40 per share | of common stock. an increase of 75 per cent over the 80 cents per share earned last year. Avery said this profit was after deduction of all charges, including normal Federal and State income taxes and a provision of $1.000,000 for estimated surtax on undistributed profits, INVESTING COMPANIES | NEW YORK. September R (P —New York Security Dealers’ Association: (Noon quotations.) Bl Admin Pd_2nd Inc Basic_Industry Broad St Corporate Trust Corporate Trust A A_- Corp Tr A A mod Corp Tr Accum Ser Corp Tr Acc Mod Diversified Tr C__ Dividend Shrs __ Equity Corp $2 pf Pidelity Fund Inc Pirst Boston Corp__ Fixed Trust Sh A Eixed Trust &h B Fund Tr Shrs B Gen Investors Tr Group Sec Agriculture _ Group Sec_Automobile Group Sec Building Group Sec Chemical _ Group Sec Group Sec Invest Shrs Group Ser Merchandise _ Group Sec Mining _ Group Sec Petroleum Sec RR 332% Pematroto 2325 ShBu gty 3034333233 [Rons: ] Selected Income Sh Belected Indus cv of Spencer Trask Pund_ Stand Am Tr Shrs _ Stand Ttil Inc i3 a2 usteed N Wellington Fund___ —_— FEDERAL LAND BANKS NEW YORK. September 28 (f).—FPederal | Land Bankatims as of 2 o'clock.) 41as Nov. 195, y 323 H IS FEE 333322535k e m EEEEEEEE = T = 22285232 35333 & U. S. TREASURY NOTES. Reported by Chas. D_Barney & e—-Maturity, 352 F rnal 3, Bisds 8 3 B 2 LPLTART o1 9 Fold 28! LS IuE Bitifl o5 e o 4 'FINANCIAL. STEEL RATE HITS |GOLD PRICE SOARS NEW G- YEAR HIGH Institute Finds Operations Up One Point at 75.4 Per Cent Mark. By the Assoctated Press. NEW YORK, September 28.—Opera- tions in the steel industry for the cur- rent week advanced 1 point to 75.4 per cent of capacity, a new high since 1930, compared with 74.4 last week, the American Iron & Steel Institute estimated today. A month ago operations averaged T1.5 per cent of capacity, while a year ago the rate was '.W.! per cent. ‘This week's gain boosted the output rate to the highest since the institute started reporting operations in Octo- ber, 1933, but unofficial calculations indicated the current figure at the highest since late March, 1930, when the industry was running at about 76 per cent of capacity. This was the second successive week the institute's figure reached a new high. Steel circles said the expansion in operations was the result of steadily rising demand. Sheet bookings con- tinue heavy and demand for railroad track materials is gaining, it was said. —_— NEW YORK COTTON By the Associated Press. NEW YORK, September 28.—A sharp opening advance in cotton to- day on a constructive view of the three - nation monetary agreement, relatively firm Liverpool cables and reports of heavy rains in Texas was followed by partial reactions. After the first rush of buying busi- ness tapered off to some extent and December sold down from 12.03 to 11.92 under hedging and realizing. The tone, however, continued steady with the midafternoon market show- ing net advances of 8 to 11 points. Futures closed steady. 9-14 higher High w._ Clo Cononleed Oil. Bleachable cottonseed oil futures closed barely steady. October, 10.10b; December. 10.22; January, 10.22b: March, 10.30; May, 10.35. Sales, 106 contracts, including 10 switches. b-Bid. New Orleans Prices. NEW ORLEANS. September 28 (P.— Gains of 6 to # points were scored today by cotton futures at the opening of the market here The advance was sald to be based uocn a further response to the French devalua- tion of the franc and h rains in Texas foner opened at 1302 and advanced to 12.05 in the first hi our. ' December mmed up to 11 05 March a: 1198 best showing with a 13-point ra s oal active & e el & and = good volume of hedsing 1y absor! Cottonseed oil opened steads: October 9 71b: December "9 7Rb: January 9.80b arch 380, May 8 fTh. H . Liverpool Quotations. LIVERPOOL. September (. —Cot- ton. 11.000 bales. including 100 American. Spot. moderate business done: prices 6 poinis higher: quotation strict good middly 7.65 middling O Strict middiing dling. 6.95: strict low middling, middling. 685 strict good ordinary. & Food. ordin T, Sib;. (utures 'cl steady. Oc #.63; December, January 858 March, 630; May Juiy. 6.46. mid- 5: low 15, 5 6.52; NEW BANKS OPENED. CHICAGO, September 28 (Spe- cial) —Three new banking offices were opened during the last week in California, according to the Weekly Banking Market, released today by {Rand McNally Bankers' Monthly. It | also reports four banks in process of organization, one in New York, one in Minnesota, one in Sduth Dakota and one in Oregon Money for Co..‘utrldm' n Loans l.uy on Improved Properties 55% FIRST DEED OF TRUST ONLY GEORGE 1. BORGER For Purchasing a Home or RE-FINANCING EXPIRING TRUSTS NO COMMISSION CHARGE NO RENEWALS REQUIRED Terms Arranged on Easy Menthly Payment ON REAL ESTATE AT 5% Monthly Payments If Preferred Our Real Estate Officers Invite You to Confer pogs prow e s LaiSe ot bt ot ot ? L3 833 2222223282 R s saeeesasai.aa.a_ o 131203 100 26%s Belgium, 16.90; Germany, eden. ",r'd "flll:r:’tll .|fl' '!- New York in Montreal, ted. The WASHINGTON LOAN AND TRUST COMPANY Member PEDERAL RESERVE SYSTEM | hitched to sterling, in pence: Amer | ®ood | ONLONDON MART Rises Nearly 3 Shillings, Dollar at 4.93', in Terms of Pound. By the Associated Press. LONDON, September 28.— The breaking up of the continental gold bloc caused mild excitement in finan- cial quarters toda Repercussions were featured by a rise of nearly 3 shillings an ounce in the price of gold in the open market. Bar gold was quoted at 140 shillings, 9 pence, a rise of 2 shillings 11% pence from the price set Priday. Dealings in foreign exchange were limited because of the necessity of working out details of a new aligne ment of French and Swiss francs and guilders, the three former gold bloc units. Business was suspended in these monies. The dollar closed at 4.93': pound sterling. Most gold shares and trans-Atlantic issues maintained early gains on the Stock Exchange, but fears of French selling tended to depress oils and gilt-edge stocks. British 2'; per cent consols were off f1% at £84!, and war loan 3!3s were down 16,16 of a pound at £1067. to the PARIS, September 28 (#)—Pend- ing the adoption of the bill regulating the new gold content of the franc, the Bourse and foreign exchange market were closed today. Trading at Standstill. NEW YORK, September 28 (#).— Trading in foreign exchanges was virtually at a standstill today, al- though there was some turnover in the pound sterling at 4.94'.. The French franc, the Swiss franc and the Dutch guilder were not quoted. While foreign exchange men were prepared to quote Far Eastern and Scandinavian monies which are there was no activity, RUBBER FUTURES. NEW YORK. September 28 (2 —Crude rubber futures opened weak. 31 to 38 lower. September 1603; December. 16,- 16-20; March. 16, Investments 5|/2% First Mortgage Real Estate Notes Secured by new dwellings in N.W. section of Washington. Bradley, Beall & Howard, Inc. Ejtablished Nearly 40 Fears NA'® Southérn Blds. FIRST TRUST LOANS Long-term REFINANCING . . Lowest Rates . . . 3-Year Con- struction Loans 3% 8% BOSS & PHELPS MORTGAGE CO Loan Correspondent John Hancock Mutual Life Ins. Co 1417 K 8t NW NA 9300 INDEPENDENCE FUND DECLARATIONS OF TRUST Empire Trust Company, Trustee New York City A Living Trust Fund Prospectus on request. Slauson, White & Rowe, Inc. 305-10 Peoples Life Ins. Bidg. Net’l 6631 Washington, D. C, 423 Calvert Building Baltimore, Md. 34 Liberty Trust Building Cumberland, Md. HOME LOANS to build or refinance 3% as low as PAYMENTS COLUMBIA BUILDING ASSOCIATION 716 11th St. N.W. Mortgage Money For CONSTRUCTION LOANS and LOANS ON IMPROVED PROPERTY in the District of Columbia, Nearby Maryland and Virginia 512% Promp: Action B. F. SAUL CO. 925 15th Street Netl. 2100