Evening Star Newspaper, October 8, 1936, Page 18

—18 xx% G STAR, WASHINGTON, D. C, THURSDAY, OCTOBER 8, 1936. FINANCIAL. POSTAL RECEPTS ITRANSACTIONS ON THE NEW YORK STOCK EXCHANGE 2:15 p.m. # BEST SINGE JUNE September Total Reaches $547,340, Compared to $495,083 in 1935. ¥ BY EDWARD C. STONE. " Reaching the highest mark since last June, receipts at the City Post Office in September indicate further substantial advances in Fall business in the Capital and also reveal healthy §AINs over the like period a year ago. Receipts at the Washington office in September totaled $547.340.68 in comparison with only $495.083 in Sep- tember a year ago, chalking up a notable increase of $52,257.68. The figure is also far ahead of September returns in 1934 and in 1933. The low point of the present year in postal receipts in the Capital came in -August. the great vacation month. August receipts amounted to $523.- 890, July returns were just a bit higher, $525.269. The advance in September this year was much larger than the September improvement a year ago over the July and August totals that year. { Postal receipts, as a leading busi- ness barometer, are holding their own and then some with the other good business indicators. The first Septem- ber report of importance came from the Washington Clearing House, show- | ing bank clearings far ahead of Aug-| ust this year and September, 1935, From weekly reports it is evident that the retail sales index for depart- | ment stores will be ahead of last year | in September. The Bell System has | slready noted a sharp gain in the| number of new telephones in use In September, the Chesapeake & Potomac Telephone Co., no doubt contributing substantially to the total. Judging by | other months this year, the Potomac Electric Power Co.'s September Kilo- watt hour sales total will also picture | the same gratifying business expan- #ion Directors Declare Dividend. Prev. High. Td% 14% 358, 327 21 81% 6 17% 4 49% 495 48% 457 By Private Wire Direct to The Star. > 1926 Stock and Low. Dividend Rate. 59 Acme Steel Co (13). 9% Adams Exp (a20e).. 17% Adams Millis(a75¢) raph(1)_ 1'a Advance Rumley__. 58 Alr Reduction (11). 2 Alr-Way Elec Appl{ 13 2i4 Alleg Corp (d) 12% Alleg pf w$30w (d) 12% Alleg pf wS40w (d). 1215 Alleg pf xW (d) e 27 Alleg pr pf (d) ceee % 267 Alleg Steel (11).... 245 36% 91y 157 Allled Chem (6)___ x 23 Allied Mills (ab0c). 6%, Allled Store: Allied Stores pf (5) 35% Allis-Chalm (133) . 19% Alpha Port Cmt (1) 2 Amal Leather. 34 Amal Leather pf $2. 75 Amerada Corp (2) . 49 Am Ag Chm Del(3). 37 Am Bank Note (1).. 40 Am Brake Shoe 1.60 115% Am Can (t4) 30 Am Car & Foundry_ 57% Am Car & Fdry pf.. 31 AmChain_. 7'3 Am Colortype. 20'; Am Comel Alcohol . 16% Am Crystal S(ad0c) 313 Am Encaustic 69 Am & Foreign Pwr. 25 Am & For Pw $6 pf_ 29% Am & For Pw $7 pf. 12 Am & For Pw 2d pf. 13 Am Hawalfan (1) __. 514 Am Hide & Leather. 32% Am Hide & L pf (3). 37 Am Home Pr (2.40). 2 Am Ice. 16's Am Ice pf (2) 9% Am International 2"‘1 Am Locomotive. Am Locomotive pf_ Am Mch&Fy (80¢)- Am Mch&Met a40c- Am Metal Am Metal pf (312 Am News (NY) (3). Am Power & Light. Am Pwr&Ltpf (5). Am Pwr&Lt pf (6) Am Radiator(alic) Am Radiator pf (7) Am Rolling M(1.20) Am Safety Rn (2)- Am Seating__. . Am Shipbldg (2) Am Smeit&Ref (11 Bales— Add 00. High. 3 654 64% 65% 14% 27% 324 2% Alaska Jun (160e). x * 282\‘ 232% s 2T 2T% — % AEL IR = Y PN $ RELRETSRES i g | FEar 30 Directors of the Washington Loan | & Trust Co. at the October meeting | vesterday, declared a quarterly divi- | dend of 2 per cent, payable Novem- ber 2. to stockholders of record Octo- | ber 22. It wil be the 177th consecutive dividend paid by the trust company | Books will be closed from October 22 | to November 2, inclusive. Weighing fourth-quarter business prospects, the Magazine of Wall Street declares that the ground swell of re- covery—whether natural or artificial or both—has now attained such mo- mentum that nothing can stop it this year. The magazine adds: “Today we see a volume of business Jarger and broader than almost any | one a year ago thought would be pos- | sible ! “In this gratifying transition the | dominant thing that stands out is the progress of the heavy industries—the revival in steel, in construction, in railroad equipment, in factory mod- | ernization and expansion. It was precisely this revitalizing of the heavy | industries that was required to round out the already strong advance in the motor industry, in household equipment and in consumption goods | generally—giving the movement & balance and a momentum which, cer- | tainly for the next three months, ap- ‘ pears invincible. ‘We believe aggregate business ac- tivity in the fourth quarter will top that of a year ago by from 12 to 15 | per cent.” State Banks Subject to Tax. State banks were held vesterday to be subject to taxes levied under the social security act unless they are “a means for carrying into execution the powers of the State.” Since Internal 1 m 13612 Am Sm&Ref pt (1) x 2 Am Snuff (13) - 44 » 20'; Am Steel [‘ound"— 24% Am Stores (2).. 481 Am Sugar (2) 20 Am Sugarpf (1)___ )% Am Sumatra Tob 1 s 1493 Am Tel & Teleg (9). s 87 Am Tobaceco (5).... 8814 Am Tobacco B (5) 104 1119 T08 2 10 74. 4y Am Writ Pap pf (d) 3%3 Am Zinc & Lead __. Anaconda Wire(2)_ Anchor Cap (6uc) 7 Archer-Dan-Mall% 118 Arch-Dan-M pf (7). 105'¢ Armour Del pf (7). 4% Armour (1)linois) _ 661 Arm'r(111)pr pf (6). 47 Armstrong C (1% ). 7l Arnold Const (50¢)- 81y Artloom Corp 11 AtIGulf& W Ind_.. 467y 1313 Atl Gulf&W Ind pf. 354 26% Atlantic Ref (1) 115 109 Atlantic Ref pf (4)_ 73 4% Atlas Powder (12) 12614 112 Atlas Powder pf (6) 301 14 Atlas Tack (a50¢)-. 54y 26% Auburn Auto 3. 10t 5% Austin Nicho! 291 Austin Nichols pf A 4% Aviation Corp (Del) 21 Baldwin Loco (4) _ 29'3 Baldwin Loco pr(d) 2% Baldwin Loasd(d). 33% Baldw L pfasd(d).. » Baltimore & Ohlo 1 Baltimore & Oh pf 110's Bang & Aroos pf(7) mo. 131 Barker Brothers. £2' Barker Bros pf. 14's Barnsdall Ol (80¢) x 60 16% Bayuk Cigars (T5¢) 2 18 Beatrice Cream (1) 85 Beech-Nut P (13)_— 134 Belding-Hem (1) FESS SETESLIIETESEE S 104+ R ¥4 L2+ 1084 5% 80 563, 13% 1 il s FIEF FELSVEIE ¥ REEEARE: L3S Prey. 1936 Net | High. Low. % 31 Colum Pict vte (11) 51% 42% Colum Pilcevpf 3% 44 Comcl Credit (14) - 56 Comel Invat Tr (4). 97 Comel In T pf (4%) 14% Comel Solv (80¢) . 2% Comw & Southern.. 594 Comw & Sou of (3). 7 Conde Nast Pub._... 0% Congoleum-N(1.60) 16 Congress Cigar (a2) 15 ConnR&Lpf..... 8 Consol Cigar. - 7814 Cons Cig pf xw 6% _ 66% Consal Cigar pf (7). % 27% Consq) Edison (2)-. lo’ 102 Consol Ed NY pr(5) 3 128 41 Consol Film ___ 154 Cons Film pf (317~ 3% Consol Laundries__ 11% Consol Oil (160¢) ——. 5% ConsolR R Cuba pf.. % Consol Textile (d)_ 2 Cons Coal (Del)vte. 12% Cons C (Del) pf vte. 15% Container Corp (1). 10% Contl Baking (A) ... 1% Contl Baking (B)--. 6714 Contl Can (3) _____ 17% Contl Dia Fibre(2). 35% Contl li sur (11.20). 214 Contl Motors ____. 284 Cont Ol of Del (11). 27 Contl Steel (2) 551 Corn Ex BK&TT (3). 63% Corn Prod Ref (3)-. 4 Coty Inc - 35 Cream of Wh (2) 15% Crosley Rad (ab0e). 43% CrownC& S (2) .. 955 Crucible St1 nr (13). 6la Cuban-Am Sugar__. 6313 Cuban Am Sug pf_. 35 Cudahy Pkg (2%)_. 16% Curtis Publishing_. 9945 Curtis Pub pt (7). 4 Curtiss Wright. 10% Curtiss Wright (A) 36' Cushman Sons pf Deere & Co pf 11.40. 19'% Deisel-Wem-G (11) 36% Delaware & Hudson 147 Del Lack & West_. . 4% Den&Rio GW pf (d) Detroit Edison (14) 42 Devoe&Rey (A) (2) 30% Diamond Mtch 11% 38 Dia Matchpf t1% . 18% Di ‘orp Seag Ltd. 19 Dixie Vortex (1%3)- 412 Dome Mines (12)__. 7% Dominion Stores __ 50% Douxlass Alrcraft.. 29 Dresser A (b133)__. 13 Dresser Mfg B _ 1% Duluth S S & Atl p( 13% Duplan 8ilk (1) 133 Du Pont de N 13.6! 1331 129 Du Pont deb (6) . 115% 1114 Duquesne Lt 1st (5 9% 513 Eastern Roll Mill. 186 156 Fastman Kod (15 39% 131, 47 114 1% The 2814 Eaton Mfg (2) ... 5% Eitington-Schild 30% Elec Auto Lite (a2) 110% Elec Auto L pf (7). 10 Electric Boat. 53 Elec&Mus In(b24c) 6% Elec Pw & Lt 425, Elec Stor Bat (12)_ 11 Elk Horn Cpf (d) _ 715 Eng Public Serv 5% Equit Office B a20c. 11 ErteRR. 16 11% Erie R R 2d pf. 2315 Kvans Products (1) 4% Exchange Buffet __ 2% Fairbanks Co._____ 814 Fairbanks Co pf 343 Fairb'ks-Morse(t1) 31% Fajardo Suzar (2)_. 18% Federa) Lt & Trac _ 7% Federal Mot Tr 40e. 3 Fed Screw Works _ 215 Fed Water Sve (A). 201 Fed'd Dept St t1.40 38 Fid Phoe F' 1 (11.20) 49! 1137 110 Filene's S pf (613) . 384 483, 45 47% 106 Food M 247 Firest T&R (a%0c) - 40 First Nat Strs (234) 3014 Flintkote Co (1) . 32 Food Machine (1) . Df(4%). 2414 Fost Wheeler new _. 30' Fourth Nat 1al.45_ 63 Frank Sim pf (37)_. 2315 Freeport-Texas (1) 311 Fuller Co 2d of 3% Gabriel Co (A) 11'; Gamewell Co. 813 Gen Am [nvestor. 97 Gen Am Inv pf (8 424 Gen Am Trans1% _ 2:15 p.m. les— Net Low. Close. Chge. 39% 39% — 4 45% 45% — 1a 0% 0% — % 84 B4l + W 125% 16% + 5 8% 84‘5 . High. 394 4T 7 84% - & FEEFIEETT ++ 1341+ I+ t+ +1 0 oAbl 4+ 4 4 Phdd L3541+ 4 o e 4040 V141444 o P EEF PE EFF + 44 High, Prev. 1936 Low. 11% Int Tel & Tel _ 10% Interstate D S as0c. 82 Int Dept Strs pf(7). 24% Island Creek (2)... 88 Johns-Manville $2_ 75% Jones&Lauzh 1% of 39% Kalamazoo S (1) . 13 KansCity Southern 19% City South pf_ 17 Kaufman Dep S (1) x 20 KelseysHayes (A).. 18 Kelsey-Hayes (B).. 14% Kelvinator (t50¢) .. 28Y% Kennecbtt C (1.20)._ 17% Keystone S&W (2)_ 181% Kimb Clark (50¢). 3% Kinney (G R) Co. 30 Kinney (GR) pt. 2015 Kresge (S 8) (t1) 35% Kress SH & Con(1). 19% Kroger G&B (1.60)., 20% Laclede Gas (St L) 140, 32 Laclede Gas St L pt 400 15% Lambert Co (2) 9 7's Lane Bryant.. 2 12 Lee Rub&Tire(50c) 34 151 Lehigh Port Cmt t1. 60 9415 Lehigh Por C pf (4) 140s 2 Lehigh Valley Coal. 68 9% Lehigh Val Coal pt. 43 815 Lehigh Valley RR. 19 89 Lehman Corp (13)_ 4 12 Lehn& Fink (1%1_ 10 3714 Lerner Stores (12)_ 7 Libby MeNeill & Li_ 47% Libby-Ow Gl(a2%). 97 Ligg & Myers (14). 97% Ligg&Myers B (14). 160% Ligg&Myers pf (7). 19 Lily Tultp Cup(1%) 257% Lima Locomotive... 3214 Liquid Carb(1.60)__ 43 Loew's Ing (12).... 2 Loft Ine 3% Long Bell Lum (A). 39% Loose-Wiles (2) __. 211 Lorillard (P)(1.20) 13 La Ofl Ref pf (d) . 20 Louisv GEEpfA 1% 5714 Lou & Nash (a434)- 221 Ludlum Steel (1) McCall Corp (2) McCrory Stores __. McGraw Hill Pub Mcintyre Poreu (2) McKeespt T P (14) McKesson & Rob _ McKess&Rob pf(3) McLellan Strs a20c x Mack Truck (1) _. Macy (R H) Co (2)- Stock and 19% 26% 101% 30% 3 1 169 23% 43 441 627 38 8% 820 2 44 Manati Sugar (d) . '« Manati Sug pf (d) Man El md gtd (d 's Manhat Shirt (60c). Marine Midld (40c). Marlin-Rock (¥2) _ Marshall Field & Co Martin Parry . Mathieson Alk 1% . May Dept Strs (2). Maytag Co __ Maytag pf ww (3) Mead Corp Melville Shoe (5) . MengeiCo . ______ Mengel Co pf _____ 3 Merch & Min T 1.60_ 40% Mesta Mach (a3%). 5% Miami! Copper - 174 Mid-Contl Pe®a40c. 21% Mid Stl Prod (a2) 110 Mid Stl 1st pf (8)__ 614 Minn Moline Pwr 57 Minn Moline Pwr pf % Minn & St L (d) 213 M St P&S S M pt 28 M St P&SS Mizin_ 16% Mission Corp 513 Mo Kans & Texa 14': Mo Kans & Tex pf . 21a Missouri Pacific(d) 37 Mo Pacific pf (d) _ 197 Mohawk Carpet (1) x 79 Monsanto Chem(71) 35% Montg'y Ward 80c.. 44 Morrell J & Co2.40 x 604 Morris&Essex(3%) A, Mother Lode . ____. 28%, Motor Prod (12) 15'a Motor Wheel (1).. 114 Mullins Mfg (B) 70 Mullins Mfg pf (T). Murphy G C (1.60). Murray Corp Myers (F E) (12) Nash Motors (1). 20'3 Nashv Chat & St L. 1215 Natl Acme (a2be) 283, Nat Biscuit (1.6 )_. 153 Nat Biscuit pf (1)__ t Cash Reg (50c) 25% Nat Distillers (2)__ 26% Nat Lead (150¢) __ 9% Nat Pwr & Lt (60¢) n=8a3 PSSt 108 10s 6 3 31 L3 108 10 Dividend Rate. Add 00 High. Net Prev. 1936 Low. Close. Chge. | Migh. Low. ket Dividend Rate. 12% 12% — !h 64% 36% Puliman Ine (l“).. 25% 101% 29% W 120 17 .6 22% 4“ 26% 22% 20% 19% 25% — 103% il 121% —1% 119 +2 46% + FEEFEELFEELS 14 FE Py F& 4+ P SEETEFTET P14+ +44+ 200040 0+00 FE X IS FEEESE i t+1)11++1+ FaXREPFITES ¥ 311, 132 75 1914 10613 100% Tide Wat A O pf(6) 24 7213 14% 2% 16% Quaker Sta Ref 80c.. 9% Radio Corp 68% Radio Corp pf A 3% & Radio-Keith-Or (d) 11 R R Sec Ill Cent___ 28% Raybestos-M (1%). 35'% Reading (2) -ceeeee 1% Reis (Robt) .. 124 Reliable Stores 17% Rem Rand (160¢) 19% R'm-R 6% prpf 1 77 Rem-Rand pf (6).-... 4' Reo Motor Ci Inu Republic St ublic Steel pf_ zcu ere Copper (Ads 224 Reynolds Met (1)... 25 Reynolds Sprg (1) 50 Reynolds Tob B (5) 74% Ruberoid Co (1)___. 27 Safeway Stores (2) 110% Safeway Strs pf (1) 22 St Josepr L4 (80¢). 114 St L-San Fran (d) .. 2% St L-San Fr pf (a) T% St L Southw'n (d) 11 Savage Arms 37% Schenley Distill (3) 97% Schenley D pf (56%) 1%, Schulte R Strs (d) . 53'% Scott Paper (2) 7 Seaboard Air L (d). 30! Seaboard O1l (1)~ 314 Seagrave Corp.__ 59% Sears Roebuck (2)_. 2% Second Natl Invest. 15% Servel, Inc (§0¢) 20% Sharon Steel Hoop_. 4% Sharpe & Dohme . 11's Shattuck F G (50¢). 30% Sheaffer Pen (2) 14% Shell Union Oil_ 110% Shell Un Ol pf 6% . 83 Silver King (60c)__ 19% Simmons Co (a50¢). 315 Simms Petrol._. 1915 Skelly Ofl___ 112 Skelly Ol pf(17%)- Sloss-Sheffield Stl 40% Smith (A O) 21 Snider Packing. 1215 Socony-Vac O (50c. 373 So Am G & P(a20c). 26 South Port 8 (2)__. 25 South Cal Ed (1%). 2315 Southern Pacifie _.. 125 Southern Rallway.. 19 Southern Ry pf 157 Sperry C'p 13% Spicer Mfg 63 Splegel-May. 218 Rquare D(B)aé2izc 14% Stand Brands (30c) 913 Stand Com Tobacco 5'y Stand Gas & El (d) 913 Stand G&E $4 pf (d) 264 Stand G&E 37 pf (d) 35 Stand O of Cal (11). 32% Stand Oil of Ind t1_ 51a Stand Ol of N J (11 24% Starrett(L $)11.40_ 65 Sterling Prod (3.80) 2% Sterling Secur (A). 14% Stone & Webster__. 9'a Studebaker Corp . 27 iperheater (80c) . 3 Superfor Ol ___.___ 9% Superior Steel . 23 Sutherind Pap t1.60 20, Swift &Co (1) 28' Swift Intl Ltd (2) 1's Symington (d) 57 Symington A ¢ 715 Tex Pac C & O a2se 9i¢ Tex Pag Land Trust 337 Thateher (1) 8%, The Fair__ 89 The Fair pf (7). 23% Third NatIn 4°s Thompson Btarrett 26 Thompson Star pf .. 14% Tide W A380 O 80c_ 1214 Timken Detroft(t1) 56 Timken Roll B (12) 11 Transamerica t40c. 1473 Trans & Westn Air. 103, Transue &W (160¢)_ Tia Tri-Cont Corp a25c. 47 Truax-Tra Coal Tis Truscon Steel 2215 20th Cent Fox 31% 20thCent Fpf 1 + 8% TwinCity RT.___ 65% Twin City R T pf_ 2% Ulen& Co____ 3812 Union Bag&Pap (2) . 2308 41 65% 64 12 19 18% 1 95% 96% 608 109% 109 12 11% 17 16% 10% 3% ™ 18% 34w 47 16% 11t 121 2 - o= BT T TON s g% 23% 681a 14 17 16% 10 T 100 3l 387s 154 94l Net 65 + 18% — 95% + 109% + 174 + 164 + 244 — W |in front, +1% | 123 1M + 54 Add 00. High. Low. Close. Chge. i OFEFERFER FrE 4% 15 REALIZING CHECKS UPTURN IN'STOCKS Many Leaders Are Halted or Ease Moderately After Early Rise. Stock Averages 15 lnaur Ralis Net change. +.1 +.2 Today noon. 939 421 Prev. day... 938 419 15 60 ol lu-l 0.6 705 53.0 528 527 374 53.4 434 4.7 68.9 494 70.5 55.7 56.1 Month ago__ 90.9 41.2 Year ago._. 682 23.7 1936 high__. 3.8 422 1936 low.... 734 302 1935 high... 76.3 312 495 185 216 3438 175 8.7 239 189 46.9 153.9 184.3 157.7 51.6 953 61.8 6138 1932 low.... BY VICTOR EUBANK. Associatea Press Financial Writer. | NEW YORK, October 8—After climbing to a new five-year peak for the fourth consecutive session, the | stock market today encountered suf- * | ficlent profit-taking to stem the ad- % k] e -4 vancing trend. Encouraging business and industsal news leept individual issues well out but many of the leaders either halted for a rest or slipped moderately downward An upward flurry in low-priced util. ities put the ticker tape behind for & while at the opening. Commonwealts: | & Southern and United Corp. edgeq 554 — 43 | forward in blocks of 50,000 to 20.00¢ 217 15% + "~ 30% — 316 — 46y — 25 + 4T+ 107 261 + 21% 29% + B9 — % LY n * bl shares, respectively. The buving rusi lasted but a short time. however. anc the pace was comparatively slow nea: the fourth hour. Transfers were around 2200007 shares, . b W Y 374 +1 151 + W CHICAGO GRAIN By (he Associated Rress. | CHICAGO, Octeber 8.—Respo to settlement of the Minneapolis 10'a + % vator strike. and to assertions Ar 3914 — T5'a & 19% — 158 + a7 4% + 187 + 3478 — 224 + 304 + 5 ‘x Pig K % % 1 Py » - b 200 — 1y 21% — 234 — 681, — - W 1 148 + 0 174 - 16 100 — 2 % W % % % tina would prohibit old erop expn Chicago wheat values showed i creased strength late todav. There were also estimates that much as 1.500,000 bushels of Canadia wheat had been bought todav fr export. On the other hand. a | straining factor was favorable we for the new domestic Winter whea crop Southwest Wheat closed unsettled 15a1 above yvesterday's finish, Dece 1.14'ga’, :May, 1.12%a5%5: Corn, up. Dorembcr 947.295; May, 905, oats. 'aa’s advanced. and provisi showing 10 cents to 22 cents gain 1 e 12 Chicago Cash Market Cash wheat. No. 2 red. 1.17 hard. 122: No. 1 northern spring heavy. 1.22; corn. No. 1 vellow, 1.07! 2 No. 2 yellow, 1.07',..087,: lake billing 1.07: No. 3 yellow lake billing. 1 No. 4 yellow new, 98: No. 5 vellow. 1.05 No 1| 441+ new, 95',: No. 2 white. new, 117; No 4 white new, 1.07!;; No. 5 white new 138 -1 |1.01: sample grade. 1.00-02; new 90. 98 —1% 92';: oats, No. 1 white, 45-46!,: No. ! 29% - la | white, 44-443,; No. 3 white, 421,443 ' sample grade. 40-42';: no rve: soy | beans, No. 2 yellow, 1.22; barley actua 21% Bendix Aviat'n (al) 20 Beneficial L (f13%)- 453 Beth Steel ______. 16 Beth St1 6% pf(1)_- 107! Bethlehe Sul pf(7 2 32 Bigelow-San (1)._. 201, 14'4 Blaw-Knox (60c) 113 109% Bloomingdale pf(7) 220 71% Union Carb&C 2.80_ 20% Union'Oll of Cal (1) 149% 108'3 Union Pacific (6) .. 100 904 Union Pacific pf (4) 218 32% 21 1% Revenue Bureau officials were unable to explain how a State bank could qualify under this phrase, it was in- dicated that Federal officials will tend toward denying the status of instru- mentalities to most State banks un- less they are actually State owned. 21 Gen Asphalt (b25c) s Nat Ry Mex 1st pf__ 991, . 10% Gen Baking (160c) 1%'. 1e 98 2915 2 15% 1% + 8 ST@ ¥ ¥ Lo 10'¢ l\llcmll (t80¢) 9 Newport Industri 1% Utd Air L rts Oct29 ™ 140 Gen Cigar pt In a separate ruling made public | At the same time, however, the bureau further stated that State banks which | are members of the Federal Reserve svstem are exempt from social se- | curity taxes on the grounds that they are instrumentalities of the Federal | Government. National banks have al- ready been ruled exempt on these grounds. Heard in Financial District. Avon M. Nevius, one of the vice presidents of the Riggs National Bank, is taking his usual Fall vacation. | Among other things, he will take a boat trip to Miami with friends. George G. Wilson, an assistant cashier at the National Bank of Washington, has been made foreman of the District grand jury for the com- ing term, it was announced in court eircles yesterday. Washington banks will be open as usual on Columbus day, next Monday, but the brokerage houses and bond offices will be closed. The New York Stock Exchange and other big ex- changes will be closed. D. F. McConnaughey, specialist in Government sgcurities and widely known in the financial district, has been elected president of McCon- naughey & Co., steamship freight agents and customs brokers. The firm’s headquarters are in Chicago. Mergenthaler Strong Today. Fifty shares of Mergenthaler Lino- type sold at 51 on the Washington Stock Exchange today, a new high. It has sold at 51'; in Boston within & day or two. Capital Transit moved at 14 and Washington Gas dropped back to 82 after selling yesterday at 83. About 60 shares of Potomac Elec- tric Power 6 per cent preferred stock _eame out, at 110%, 110% and closing at 11015, . Anacostia & Potomac R. R. 5s came put at 77'2. The first sale in the new Potomac Power 3'4s is yet to take place. The bid today again stood at 104 with 104’2 asked. CONFERENCE PLANNED FOR HOOVER DEALERS About 250 merchants, dealers and members of the Hoover sales force from Washington and nearby cities gathered here today at the Shoreham Hoted for an important meeting with executives of the company from North Canton, Ohio. It is understood that new develop- ments in the company's program will be announced, including 1¢volutionary changes in products. Among executives who will be in attendance are: H. W. Hoover( pres- {dent; Thomas F. Kelly, J. N. Adam and A. G. Woods. The meeting is in charge of H. T. Brown, local district manager. Out- of-town merchants for the meeting include representatives from Balti- more, Cumberland, Hagerstown snd Richmond. 2 4 107 314 631x 1001y 77% Blumenthal pf 167 BoeingrAirplane 41 Bohn Alum&Br (3). 804 Bon Am1 A (4) ___. 3y Bon £mi (B) (2%)- 25% Borden Co (1.60) .. 64 Borg-Warner (13) 6 Boston & Maine 1's Botany Min A (d) - 121y Bridgp’t Brass t40c A 43% Briggs Mfg (12) 41 Bristol Myers (12). 40% Bklyn-Man Tr (4) . 97% Bklyn-Man T pf (6) 4'3 Bklyn & Queens___. 44! Bklyn Un Gas (3).. 45 Brown Shoe (3)____ 8% Brunswick-Balke._.. 8% Bucyrus-Erie 9 Budd (EG) Mfg___ % Budd 2d pd._Oct 16 85 Budd (EG) Mfg pf. 8% Budd Wheel = 20%, Bullard Co (a50¢)_. 11% Bulova Watch__ 25 Burr Ad Mchl'iOc) 2% Bush Terminal (d). 8% Bush Term deb (d). 14% Bush T Bldgs pf(d). 2% Butte Copper&Zinc. 163 Byers (A M) .. 54'a Byers (A M) pf 22 Byron Jackson t1._ 30% California Pxg(l3%) % Callahan Zinc. . 6 Calumet&Hec as0e. 30 Campbell Wy (1) 10% Canada Dry G A-.. 10% Canadian Pacific_ 37 Cannpon Mills (a2 12% Cap Adm (A) 250 87 91 6% Carriers & Gen 20c. 92t Case (J [)Co______ 54% Caterpillar Trac(2) 21% Celanese Corp a50c. 19 Celotex Corp 25% Cent Agulre (113)- 35 Central RROfNJ.. 613 Century Rib Mills_. 47% Cerro de Pasco (4 19 Champ Pap & F (1). 59 Chesapeake Corp(3) 51 Ches & Ohilo (2.80)_ 27% Chi & East [11 pf(d) 1% Chi Grt West (d)... 4 ChiGrt Wopf(d)._. 25% Chil Mall Ord(11%). 113 Chi Mil St P&P (d). 2% Chi M .St P&P pt (d) 2% Chi & NW(d) ... 40% Chi Pneu Tool pf. 1% Chi R 1&Pac (4 3% Chi RI&P 6% pf 1d) 315 Chi R 1&P 1% pf(d) 19% Chi Yellow Cab (2). 17% Chickash Cot Oil__. 23% Clark Equip (1.20)- 33 Clev Graph Br (3) . 48 Cluett Peabody (1) 13 Colgate-P-P (50¢) 106% 100 Colgate-P-P pf (6). 60 391 Collins & Afkt8____ 112% 107% Collins & Aik pf (1) 8% Colonial Beacon..... 3% Colo Fuel & Ir (d).. 23% Colo F & 1 pf (d) . 28% Col Fuel & Ir (new) = 1 Car Clin & O (4)___ x 20s 100 Car Clin&O sta (5). x 30s 102% 102 102% +1% 4L+ + 4+ ~ F&ar FESERSEELSPEEEFEELEE FSEEE FEEFEESL ,,‘ 4414+ 18% 13% 51 16% 100 16% 16% — 100 +1% 9 84 4163 8% 162 8314 - a0 - 31 LT Y YPTOIRT PN PPIUER Iy 41 63'% + 3 63 121 121 43 4 704 123 725 ) 3415 Gen Electric (1) _ 33% Gen Foods (1.30) '» Gen Gas & Elec (A) 88 Gen Mills (3) 117 Gen Mills pf ( 53% Gen Motors (12)- 122% 118 Gen Motors pf (5) . 531y e 50 3% 43 543, 6319 27% 36% 18% 90 19% 554 Tia 10% 21% 25% 9% 317% 104 12% 4% 11% 35% 47 44 22y 39 33% 18% Gen Outdoor Adv A. 313 Gen Pub Service_ __. 3213 Gen Ry Signal (1)_. 2 Gen Realty & Util__ 26'% Gen Real&U pf ww._ 331 Gen Refrac (al3)_ 32% Gen Sti Casting pf- 17 Gen Theatre Equip. 3014 Gen Time Inv (1)__. 13% Gillette Saf Ras (1) %0 Gillette SR pf (5)— 6% Gimbel Bros 39% Glidden Co (2).. 37 Gobel (Adolf)_. 6% Goebel Brew (200) 12% Gold Dust vte (60¢)x 13% Goodrich (BF) _. 74 G'drich (BF)pf n(5) 21% Goodyear T & R___. 87 Goodyear 37 pf (4). 8% Gotham Silk Ho: 2 Graham-Paig 1% Granby (24 stpd) 241 Granite City Stl (1) 2814 Grant (W T) (1.40) 32% Grt Northernpf___. 16 Grt North'n Ore (1) 31 Grt West Sug (2.40) 22 Green (H L)Co(11). 48% Greyhound C'p 3.20. 1% Guantanamo Sugar. 24 Guantanamo Sug pf 129% 105 Guif Sta Stl11 37 1% 22% 48% 17 9 133 102 35% 116 38 Hack WpfA (1%). 6 Hall(WF)Printing. 14 Hamilton Wateh __ 30% Harbison Walk(2)_. 12 Hat Corp of Am (A) 4% Hayes Body Hazel Atlas [} (?I). 25% Hercules Motor (1). 84 Hercul 135 126 Hercules P pf (7). 80 A% 58% Hershey Choe (3)._ 30% Holland Furnace 116 108 Holland Furn pf(5). 29% 3% 33 70% 124 57T% 1% 19% 3% 29! 2% 13% 9 Holiander (t508)__. 19% Holly Sugar (12)__. 22% Houd-Her (B) t1%. 54% House Fin A (13)__. 6% Houston O1l vte__. 48% Howe Sound (13) .. 8% Hudson & Man pf__. 13% Hudson Motor Car_ 1 Hupp Motor: % 18% [1linois Central.... 58 111 Cent lse lines (4) 4% Indian Refining. %% 25% Indus Rayon (1. ). 5 41 57% 90% 885 Inland Steel (3) 6% I[nspiration Copper.. 11% Interboro Rap T(5). 214 [ntercontl Rubber_. 9% Interlake Lron . 2% Int Agricultural. 22% Int prpf-_. +1% | 188% 160 lnnnlhn(u)_ 36% Int Cement (2) ——— 56% Int Harvester 33 . 56% B6% — % | 160 148% Int Harvester pf(7) 56% 110 17% 16% 17% + % 1 104% 104% 104% — % 10 59% 58% 69 <+ 50s 112 112 112 10s 28% 28% 28 10 8% 8% 510s 34% 34% 9 38% 384 28% 3¢ 20% 20% 4 108% 108% 1 20s 101% 101% 10] % % » W % bl % » » » * % + hfi-fi- 4% — !8%— 281 — 34 - 20% + 08% + 1% 5% 8 63 1 5% 5 6% 3% 2% int Hydro Elec (A). 4% Int Mercantile 43 Intl Nickel (1.40)__ s A A I EE FREFFE FEES 0 FEFEFEF ¥ +F1—_|I#l TIUD 44 6% 6% 104% 102% 104% 34% 34w 34w 115% 115% 115% 130 130 130 FFEEE FEFEST S ++1 01+ URA 114% 114\6 10% 10% 13% 134 34 34 3% % — 31% 31% 31% — 172 172 172 57% B6% 57% + 88% 88 88 -4 Nflt ll’“ l‘:flt -4 13% + 3 62% - BRR5E-R-Ranl-uwauBala - 8 5 i 1) o S 50 Int Silver pfoceo... 2= % - W #frffi####;‘### FE O FLFES 49% 26 + %| 113 103% Pub Sve 3215 N Y Airbrake a50c._. 2% NYCentral R R .. 17% N Y Chicago & St L. 36 NYChi&StLpf . 31a N Y Dock _ 10% N Y Dock pf 1 NY Investors (d) .. 3 NYNH&H @) T% NY NH & H of ( 91 N Y Shipbullding _ 57 N Y Shipbldg pf(7). 100: 83 N Y Steam pf (6)__. 9313 N Y Steam 1st (7) .. 10s 114 Norfolk Southn (d). % 28 87 3 27 108 101 109% 2% 300 210 Norfolk & W (18)__ 10% 6% North Am Aviatien. 351 2314 North AmCo (1). . 106% 98 North Am Ed pf(6). 36% 237 Northern Pacific___ 57 50 Northwest Tel (3)._. 124 Ohto O11 (50e) . 2414 Oliver Farm Equip._ 17 Omnibus Corp vte_.. 8 Oppenheim Collins_ 2414 Otis Elevator (60¢). 1215 Otis Stee1__. 70 Otis Steel pr n(_.._ 47 Outlet Co (12)_ 164 128 Owens-111 Glass (5) 18% 13 Pac Am Fisher (1). 314 Pacific Coast.. 8% Pacific Coast 1 4% Pacific Coast 2d._. 30% PacificG&E (1%). 47% Pac Light (12.40)__ 14% Pacific Mills 11% Pacific W’n Oil b25e 6% Packard Mot (a25e). 1% Panhandle Pro & R. 2 1815 Panhandle P&R pf.. 10s 67 Paraffine Co (2)__. 1 109 103 Paraffine Cor pf (4). 13% 7% Paramount Pict_._. 59 Paramount 1stpf_, 814 Paramount P 2d pf, 54 11 10 135 40% Parke Davis a1%). 23 Parker Rust P134_, 4% Parmeles Transp't_. 6% Pathe Film Corp.... 10% Patino Mines_ 11 Peerless Motor_ « peerless rts_Oct. 26. 60 Penick & Ford (3 314 Penn Coal & Coke. 415 Penn Di 28% Penn Di 17 Penna Glassctfs__. 28Y% Penn Railroad (al). 30 Peoples Drug (11)_. 38 Peoples Gas Chi. 25% Pere Marquette. 16 Pet Milk (1).. 12% PetC'pof Am nMe. 10%4 Pfeiffer Brew (1.20) 25% Phelps Dodge a750_ 2 45% Phila Co 6% vf (3)- ° 81% Phila Co pf (6) new. 814 Phila Rap Tr pf (d) 1% Phila & Read C& 1. 66 Phillip Morris (3)_. 884 Phillips Petrol (11) 52 8 Plerce Oil pf_ 3 1% Plerce Petroleum__. 13 29% Pillsbury F1 (1.60). 1 351 Pitts Coal pf_ 2 T34 Pitts Screw alle. 14 49 PittaSteel pf...... 208 3 Pitts United Corp... 4 508 801 B0y 1 6 584% Pitts United C pf... 21 Pitts& W Va_ 11% Plymouth Oil (1) 12 Poor &Co (B) ... 4% Porto R Am Tob A_. 1% Porto R Am Tob B._. 18 Pressed Stl C pf (4) 49 40% Proctor & Gam t1% 130 113% PubSve NJ pf (C). - A\ 993 103 18, 299 Tia 338, 104 294 133 L N I+41 A sesssrressSe vsse ks w8ies I4+++4+41 01 2+44 +4 1 ) l:++l FEFFEF I +4) 16 48 2 106% 1061 1 2 119% 119% 119% n () FE FEESEEEFE V5 OF ivEr 2815 9w 487y 1613 29% 141 168 844 115 110 116 111% West Pa Pwr pf (6) 1241 116% West Pa Pwr pf (7) 12% 234 95 241 United Bisc (1.60) . 68 United Carbon (3)_. 5% United Corp... - 40% United Corp pf (3) 10% United Drug (as0c) 15 Utd vyewood (al%, 4 United Elec Coal ... 321 UnitEng & F (2) 66% United Fruit (3 14% United Gas Imp 6 United Paperb'd(d) 10 U 8 Distributing pf 13 US&For'n Secur.. 80'% U S Gypsum (2) 8% U S Hoffman... . 49 U S Hoffman pf 2 31% U S Indus Alcohol 4's U S Leather vtc. 10% U S Leather A vtc 71 U S Leath prpf vte. 21% USPipe & Fy(1%). 7% U S Realty & Imp 16% U S Rubber_ 47 U S Rubber 1st p! 72% U S Smelting (llfl) 46% U 8 Ste 11543 U 8 Steel pf (() 160 U S Tobacco pf (7)_ 5 United Stores (A) .. 57% Univ Leaf Tob (13) 50 Univ Pict 1stpf____ 3% Utll Pwr & Lt (A) . 1 Vadsco Sales Corp 30 Vadsco Sales Co pf. 16% Vanadiim Corp . 28% Van Raslte (al%). 40 Viek Chem (12)_ ... 4% Va-Car Chemical _. 28% Va~Car Chem 6% pf 9% Waldorf Sys $1.20_. 30 Waligreen Co (2)... 26% Walker (H) (2).__. 17% Walker (H) pf (1)~ 5% Walworth Co.._.. 10% Ward Baking A 2% Ward Baking B.___ 47% Ward Baking pf $3. 9% Warner Bros Pict_.. % Warner-Quin (d)__. 4% Warren Bro; = 15% Warren Brosev pf_. 19% Waukesha Mot (1) 6% Webster Eisenlohr. 1 Wells Fargo._ 87 West Pa Elec ) 96 West Pa Elec pf (7) 91 T T% 814 Western Maryland._ 15 Western Md 2d pf. 54 Western Pacific pf_. 721 West'n Union (a2) 34% West'gh'se A B (1) 94% Westingh'se Bl (4). 22% Weston El | (a25c). 32% Westvaco 5%Dpf 1% x 18% White Motor 13% White Rk M S(1. 3% White Sewing Mch. 16 White Sew Mch pf_. 2% Wilcox Oil & Gas__. 6% Wilson & Co (50¢).. 44% Weolworth (2.40)__ 23% Worthington Pump. 56 Worth Pumppf A 47 Worth Pump pf B. 62% Wright Aero__ 63 Wrigley W ir (13) 33% Yale & Towne (60c) 8% Yellow Truck.. 83% Yellow Truck p{ - 42% Young Spr&W (13). 41% Youngs'tn Sheet&T 11% Zenith Radlo. 5% Zonite Products. 271y 898, T8 48 14 24y 6 46y 80 157 12% 14' 181y 1011 101 17 16% 53 53 30‘. 35' 4 11% 141 164 6 84y 103 % 119“. 161 63 8415 10215 4 2 45 24% 46 457 5% 384 1644 45 107 107 113% 113% 122 120% 10% 101, 20% 20% 67s 6lp 90 89 45% 45% 3 150% 149% 893 —1 8 46'3 + 14 12% + 97 5218 + 11'-05- Nov. ~ 1 141 164 e 6% + % 841y + 102% + % 4h+ W 2 45 24% + 46y 4578 — 5% — 38y — ‘« 1615 — 364 + 434 + 19 8 41 6% + % Y a % 1 n % -4 1 15 488,000 bales above ',: moval of the uncertainty as to it |sales. 74; feed 74-85 nom: malting 1.12-47 nom: timothy seed. 5.50-75 cw new, 5.25-50 cwt; clover seed, 17.50- 24.50 cwt. Liverpool Wheat Prices | , LIVERPOOL. October & (. —Wheat fu tures closed firm Prev Hish. Low Close. close October 121 2 - Tk Exchange. 4 Baltimore Quetations. BALTIMORE. Octol No. 2 red Winter, garl Jicks, spot 1.16%,; October, 1.161 —Wheat domestic Winniper Prices, WINNIPEG. October s range todav WHEAT— Prev High. Low 1,003, 1.083, 1 10 100, 1 _ 1.08 1051, 1 1.00% 1.087 1 443 M. —Grait Oct 4415 445 | NEW YORK COTTON | By the Associated Press | NEW YORK, October 8 —Althoug! the Government cotton crop estimate | of production of 11,609.000 bales wa: its September forecast, cotton prices rallied 28 fo 37 | points above the early lows following | publication today. | The figure was slightly above aver- | age trade expectations, but the re- " | showing brought in Wall Street trade 1508 + 1% 284 +1 35 + 22% — 15% + dlg = 26'% 3% + 8% 56% + 30 + te Sales of Stocks on the N. Y. Stock Exchange. 11:00 A M. ... 630,000 1:00 P.M. ... 1.820.000 Dividend rates as given in the al bove table are the an: 13:00 Noon. ... 1.050,000 2:00 P.M._. - 1.640.000 annual cash e based on the latest anurlr or half-yearly deciarations. 3 fi-un.’.”«mnu les reported in e Sompa m a Paid ¥ Anpual rate—not this ‘receiversnip of bein | buying and eovering. +2% Renewed hedging and realizing de- % | veloped at the advance and by 2 p.m. | December, which had rallied from 11.81 to 12.14, had sold off to 11.91 with prices generally 5 to 8 points net higher at that time. Futures closed steady, 4 higher to ? Last teady: Co"olueed Oil. Bleachable cottonseed oil futures closed steady; October, 9.93; Decem- ber, 9.99a10.03; January, 10.06b; March, 10.16a10.18; May, 10.20a10.23, Sales, 136 contracts, including 2 switches. b—Bid. mlddlm B New Orleans Prices. NEW ORLEANS, October & ().—Lasi- minute liquidation in preparation for the Government crop estimate this mornins unsettied _the cotton mlrltl and pricer | slipped oft from 4 to 9 po rening- un mr-num h] ‘traders whe | wanted to be out of the market when tne | report was issued supplied more contracit ihan a Tient trade demand could absord. Otiover ‘opened at 11.86. December 1180 January at 1170 and Maren 11779, and during the Arst half hour prices fluctuated narrowly around these vels bles from Liverpocl were not favorabls the Buglish market reporting a nnxm off+ take and an increase in hed Cot oil_futures o | Ocover, 6.43b; December. 9.55b; March, 9.68b: May. § ned lludv : January, n. b—Bid. —Cotton. t in fait : quota- it goo N