Evening Star Newspaper, October 15, 1936, Page 23

THURSDAY, OCTOBER 15, 1936. FINAN NEW YORK CURB MARKET -CURB LIST MIXED INNARROW RANGE Few Wide Swings Seen, but Most Fluctuations Are Moderate. + By (he Associated Press. NEW YORK. October 15.—Wide swings in both directions were scat- tered in an otherwise narrow Curb ‘market today. Normally less active shares made the sharpest moves, although several of + the daily trading leaders stood more than a point away from the previous closing prices late in the session. New York & Honduras Rosario Min- ing gained more than 3 points and Pepperell moved up about 2. Standard Oil of Ohio added a point or so, while Newmont and Thew Shovel had gains of nearly a point each. Pittsburgh Plate Glass Teacted nearly 4, Aluminum Co. of America more than 2 and Commonwealth Edi- son almost 2. Atlantic & Pacific gave up more than a point. CURB BONDS ouESTIC BONDS High. gty Low. Noon. Alabama Pow 5s ‘51 10413 1041 Am Cm Pw Amer G&E 58 Cities Service 5s Cities Service bs ' Cit Stv Gas 5! Cit_Srv Pw 5 Com Edis 3% 1007 130 941 1081 Indnp PAL 5s A Internati Sait 69 1051 10514 Towa Pb Svc 5s s 1053 10838 Jers CPAL 4135 C '61 Nass & Suf L PL 38| | 0 109 1052 1053 10430 1047 12014 120% 2 09" o8 2 10452 1045 10432 104% Peop L Z 2b% 24ia 2 ts Coal 63 1065 10614 10674 Forfacd c"5s 1 eeiggail t Edis 58 E '5 P SN 4D T 4las P8I s A 40 4125 50 1 106% 10835 1063 Z104 ‘104 Y108 10334 10335 1037 041y 013, 94l D R6la 86 KBl 10435 10414 1043 s ¢ "8 10534 105241053 Sh W & P 4128 A Sherida Wvo_fs ' . Sou Calif Ed 3%s So Carolina South N 10 ‘ 100100 2 atf RATy R3Ty K37 ( E fs R4 ' R4 ' s Stand G & E fis Stand Inves 5':s %s n R 5ias Utah P & L 4'3s Va Pub_Sery fis ' Va Pl 5 Va P Serv 5s B '5 West New De fifi‘s wh‘e’efi'}g Eltc! bs '41 Wis Min LB 5 Wise P&L 4 POREIGN BONDS. 19 Btinnes 4s '46 st ww—With warrants. X yants. n—New. wi—When issued. (stp)—Stamped. . §Negotiability impaired by maturity. tCompanies reported in receivershio. DIVIDENDS ANNOUNCED NEW YORK. October 15 —Dividends de- elared (prepared by the Standard Statis- tics Corp.): . st Special. Pe- Stk. of Rate, riod. record. Duquesne Brew _ $2 __11-14 12 10-20 - 10-28 10-39 0e Florsheim She 10-24 Florsheim Shoe e B 12350 2 Increased. Capltal_Mangcement _35¢ - 10-21 nves OBt $1.62'5 @ 10-13 « Pennroad Corp - 25¢ -~ 10-23 Extra. Franklin Fire Ins Co__5 Res: N Y Auction_._______6%¢ .. 10-22 Alaska Pack Asso_ Allied Kid $6.50 pi == Duguesne Brew By private wire direct Stocks and Sales— Dividend Rate. Add O(Ii High. Alr Investors AlaGr'tSouall. 2 Ala Pwr of (6) 4 Alabam Pw pf (7) 20: Allen Indus (t1).. 9 Alliance Invest. 1 3% Alum’n Co of Am. 350s 130} 201 36 Aluminum Co of Am pf ($44) 550s 1 AmCap'lpf i1l 1 Am Cities Pwr & Lt(A)ww (2%) AmCP&L Am Cynam B 60c. Am & For Pw ww 6 1 Am Fork & H (1).200s 21'{ 14 1% Am G&E pf (6)...125s 111 11034 11] % Am G&E (1.40) _. AmGenCorp . . 17 Am Gen C'p pf(2) 50s Am Hard Rubber._ 150s Am Lt&Tr (1.20). 3 Am Maracaibo 1 Am Meter (a Am Potash & Am Superpower Am Superpwr pf.. Angostura (20c) . Apex Elec Mfz __ Appalachian Eleo Pwr pf (7) Arcturus Radio T. Ark NatGas ... Ark Nat Gas cu pf Ark Nat Gas (A) . Art Met Wks 60c_ Ass0 G & Elec AssoG&E (A) AssoG & E$5pf . Assoc Invest 1114 Atl Coast Fisher sAtlas Corp (a80c). Atlas Corp war... 108 110 » 6 4 10 22 3 Atlas Plywd a50 Austin Silve: Auto Frodu S Auto Vot M(t50c) 23 Ax-Fisher(3.20)A 80s Babcock& Wil (1) 300s Baldw L bd rts(d) 3200 Bauman (L) 7% BellancaAireraft. Berkey & Gay Furniture Co. Berkey & Gay Furn pur war. Bickfords Inc (1). Black & Decker BlissCo (EW) __ Blue Ridge Cal0c Blue Ridge cvpf 3 Blumenthal 8 Bohack (HC) Bourjois, inc..__. Bower Roller Bearing (al%). Bowman-Biltmore Hotels 2d pf__. 4608 Brideport Gas Light Co (2)- Bridgep’t Mach... Brill Corp (A).... Brown Co pf. Brown Forman._. Buffalo Niagara 4 258 10 4 800s 6 & Estpt 1st pf(5100s 106 Bunker H&S t2 Burco Ine wa: Burma Ltd (a12 9-10c) Butler Bros Cable El Prod Cable & Wire (A). Calamba Sugar Estate (11.60) Can Car & Fdry p1326 Can Marconi Capital City P 60c Carib Svyndicate. . Carman&CoB .. 1 CarnationCo (1). 8 Caro L & P pf (6). 20s Carrler Corp 5 Castle(AM) &Co 31508 CatallnCorp ... 4 100s 3 i . 4 1 37 Celanese 1st pf(7) 25s 110 Celluloid Corp . .. 18 Celluloid Corp pf. 125s Celluloid Corp 18t pf (16) Cent HG&E vie (80¢).__ Cent & S W Util (Cent Statea Elee . Central States Electric 7% pt 2768 Centrifugal P 40c .8 Chi Flex Shaft +2 Chicago Rivet & M (113%) Childs Co pf. Citles Servics Citles Service pf.. Cities Service Pwr & Lt $7 pt City Aut Stpg 60c. City & Suburban Homes (30c) .. Clev Tractor ____ Clinchfield Coal .- Cohn & Rosenbgr. Colon Develop Co Ltd (The).___ Colt's PFA (1%)- Columbia Gas & Elev ev pf (5) Columb 011 & Gas. Commwlth Dis___ Com'with Eo (4).. Com‘with & S war Cemmunity P L. EL3 J S, Communit Wat S_. Consol Afrcraft... Consal Copper.... Consol Gas of Balto (3.60)___. 6 Consol M & S (2)_150s Cons Roval (20e). 1 Cont Roll & Steel Foundry._. Cooper Bessemer_ Cooper Bess pf A Conper Rang Cord COrp. . -caaea Corroon & Reyn_.. Corroon & R pf A Cosden Of] Me (d) Cosden&Me pf (d) Crane&Co..____. Creole Pet (a25e). Crocker Wheeler.. Croft Brewing. Crown Cent Pet Crown Cork Intl (A) (1) Crown Drug a20c. Crystal Ol Ref__. Cusi Mex Mining... Darby Petr (50c) Dayton Rubber 7508 2 4508 76 10 508 6 1 2 1 68 1 13 8 n Foundry (20¢) - Det Pap Prod t256 Det Stl Prod a50c. Dictograph(alsc) Distilled Liquors.. Doehler Die- Casting (ab0c). Domin S & C (B).. Douglas (WL) pf. a1’ G Eoubeck Corn 6% Bl A 50 @ indell Tr (8¢, Louis)-_S1 rmen’s ins i) $L78 Mingespors Sf Minpesots Val Can 7% of___ . b Phila Tr Nor hlinois Finance,_3 Doy B1.30 Pl o3 Noves (Chas P) fo° & Tndus Tnc O Vpart pf_($1)_ - 25¢ ierra Pacific El pf__$1.50 R Ab Chemicail 12156 i [i2 tol as Ehry @ dalols & _-10-8 Cac dalslaiils ot ooy 3a o8 > Atlas Tlcp % o o ankiin Fire Ing ew Prooess Co- > dola CUBA SHIPS LESS SUGAR. NEW YORK, October 15 (#).— -Cuban exports of sugar from January 1 to October 10 totaled 2,136,894 long tons, compared With 2,147,210 tons in the same period last year, Lam- born & Co., sugar brokers, reported. )%\ Dow Chem (2.40) _ Dubelier Conde: Duke Power (3)._. Duval Tex Sulph_. Eagle Pitch L 40a. East'n Ass0_ East'n Gas & Fuel Ass0c Df (6) .. East’'n Gas & Fuel vrior pf (43%4)._ §0s Eastn States Pwr. 2 Eastn Sta Pw (A). 1 Eastn Sta Pw (B). 4 Essy Washing Mach (B) t60¢ Eisler Elec Corp.. Elec Bond&Sha! Elec Bd&Sh pf(6). Elec Power Asso Inc A (a10c) - Elec Pwr& Lt 24 pf (A).__._. 50s Elec Sharehold’s. 2 Emp Dis Elec pf__ 60s Emp G&F 6% pf. 200s Bmp G&F 1% pf 3508 Emp Pwr pt a1.30 100s Kmsco Derrick(l) 7 Equity Corp European Electrie Ltdbdrts .__. 31 pe_ 1008 16 6 2508 12 3 187 3 Evans Wall L Ex-Cello Airalbe. Falstaft Browery. Fedders M{g (a2). Ferro-Enam (al). Fire As (Phila.) (12) o oeeeeee Fisk Rubber.. ... Fisk Rubber pf... 3 45y 14 35% to The Star. Low. Close. 3 3% 129 1194 120 36 36 129 “4h W4 614 64 35 3 3 3 3 3 Stocks and Sales— Dividend Rate. Add 00. High. Low. Close ViaP&Lopf ..1608 674 67 5674 Ford Motor Ltd (218 1106 ccee. 8 8K 8% 2% 2 2 Ford Motor (Can) A (a750)- 194 193 19% 63} Gen Firepr'f t40c. Gen Gas & Eleo conv pf (B) ... Gen Invest Corp.. 1% Gen Tele a500 _— 22 Gen Tire & Rub.. 18 14% Georgla Pw pf (6) 3758 88 Gilbert(AC)pf 3% 108 42 Glen AldenC (1) 6 18 16% a4 29% M 24% 29% 3% P Godchaux Sugar 13508 423 Godchaux Sug(B) 29 29%4 Goldfield Consol .. 15 Gorham vtc ex(1) 10 251§ Gorham pf ww.___100s 293 Grsnd Nat Films. 19 8)§ 1€ 54 574 21 214 Var 16 112 495 AoM] aesaD T Grest Atl & Pac Tea n-v (6) __. Groc Store Prod... Gulf Of) (1)ceccaa Hall Lamp (a20¢). Haloid Co (11)_ Hartman Tobacc Hecla Min (60¢) ... Hollinger Consol Gold M Ltd t65c. 11 Holophane (aé5c) 1 Horn&Hard 11.60. 150s Hudson BM&S (1) 35 Humble Oil (t1)_. 8 Huylers of Del 7% pf stpd (d)200s Hydro Elec Secur. 2 Hvgrade Food 37 10 104 3 234 4 54 1 15 14 15% 13% 1134 ang 29 651 15% 9 b'{ 110 114 5% 95 5% 110 1¢ 54 7% 544 23§ B3 14 15 134 1134 37 294 6515 155 9 4% 12 10s 11634 11634 11634 254 12 1003 9934 100 574 1 23) 324 23% 4 15 13% 113§ 37 29 5% 15% 9 514 8 6 481 2608 1024 10134 101}§ 2 114 3 14% 1% 3 2414 59'¢ 1244 15% 15 Cied 5134 51 1 18 1% 1% 9 9§ 8 1 “y 4 96 95 131K 8 85 35 8% 4. 14 % % 13% 13% 26 254 204 20 3% 3 5 4 328 821 By 8% 5 o5 143 14 2% 143 13 315 231 59 12 15 3 5134 18% 14 9 Kt 433 953 134 85 Ll 14 29% 29 4 36 184 5§ 217 9 106 807§ 80'¢ 3% 124 36 187% 5% 22 o5 36 187 514 2174 924 106 80'¢ 28y 221 2 15 214 a4 29 95 163 58 8 110 14 2 85 8% 110 143 18% a2 ay 4 1% | 63 165 63 18% | 515 9y 35 3 514 93¢ 34| 94| 3 3 a4 4T 31§ 4 13 3% 4 B 1y 1145 11454 % %N 52 18 21% 4 881 | 631 | 34 | Prospert: Prudent Inv pf(§) 50s 101 n s 8% 8% L 463 B61¢ Hysrade Syl (2) . 200s 454 11l Pw&1t $6 of 2508 Imp Chemical Indus (a20%¢) Imp O1) Ltd eoupon (t50e) .. Imp Oil Ltd reg (t50¢) - - Indian Territory Ilum Oil (B)... 1 Indiana PL(f40c). 1 Indiana Sve 6% pf 108 1nd Service 7% pf. 108 Indus Fin7% pf__ 58 Ins Co of N Am(2)200s Intl Cer Mach $2_. 1 intl Hydro Eleo Systemcvpf .. 4 Intl Metals Inc A_100s Int Mining (60c).. 2 intl Mining war__ 7 Intl Petro (t134)_ 10 Int Petroleum reg (t113) Intl Products Int Safety Raz(B) Intl Util (A) . intl Utl) (B) Interstate Po (Del) pf Inv Royalty (3¢)- Irving Air Cb (1) Ital Superpwr(A). Jacobs(F L)Co(1) Jersey Cent P& L 5% % ot . Jersey Cent P& L Df (6)____. 108 10 2 56 8 10 6 2234 225 3y 915 3434 29 16% 2 30 1 16% 12%% 114 34 3634 361§ 5 ® nig 2014 184 1 16 508 87 90 90 54 7 Jonas & Naum. Jones &Laugh Stl. Kansas City Pub Sve viepf A . Kingsbury Br (d). Kingst'n Pralle.. Kirby Pet (20¢) .. Kleinert (1 B) Rubber Co 80¢_. Knott Corp (20¢c) - Koppers Gas & Coke pf (6)._. Kreuger Brew (1) Lake Shore M (4). Lakey Fy & Mach. Lehigh C&N(30¢). Leonard Oil = Lion Oil R (a50c). Lit Brothers Lone-Star Gas 40c 11 Long Island Light 24 Long IsLtpf A7 40s Long Isladd Light pEB (6). . 268 La Land (40¢) ... 128 McCord Rad (B) 3 McWillms Dred, Mangel §tores Mangel Stor Marion Steam Sh onite Corp(n) 100s 5 ki - o 2% 51 o 4% 2% 5y 104 8 1 5 5 3 1 1 1014 103§ 8 8 50s 2 22 5 104 22 5514 5% 1 104 22 104 22 554 54 105 % 1344 65 13 5% 9134 80 134 . 4 b 2 134 6 13% 5% 915 80 3 6 s 3 . Mayflower As (3) 2508 Memphis NG a2le 6 Mesabi Iron .__ 20 Mich Bumper C'p. 41 Mich Gas&Oll..— 1 Middle States Petrol vtc (A).. 31 Middle States Petrol vte (B)_, Midland Oil conv pf (£11;) Midl'd Stl Prod(2) Midvale Co (a2) - Minn Min&Mf(11) Mock Judson V__. Mohawgk Hudson Power 1st pf(7)_ Mohawk H 2d pf__ Molybdenum Corp Mont Ward A (7). Moore Dist (150c) Mueller Brass 80c. Nat Bella Hess___. Nat Fuel Gas (1) Nat Gypsum (A)-. Nat Investors..._ Nat Invest war_._ Nat Inv pf(a1.50). 20 Nat Leather Nat Mfrs & St Nat P & Lt pt (6) 250 Nat Refining Nat Rubber Nat Sugar NJ (2) Nat Tea pf (55¢) Nat Transit (76c). Nat Union Radio. Nehi Corp . Neptune Met ( New Brad Oalte. 6 New Eng T&T (6) 10s 131 New Haven Clock. 2 113§ N J Zine (12) 50s 79 79 New Mex&ArizLd 2 31 34 Newm't Min t1%. 8 95} 941§ New Process (2).. 2 26 26 N Y & Hond (t1). 300s 31§ 30 N Y Telpf (6%)_ 76s 119 119 N Y Transit (30c) 1 5% N Y Water Sve pf 110s 57 Niag Hud Pwr_... 88 14% Niagara Shares (Md) B (a10¢). 184 Niles-Bem-P (al). Nipissing (ab0c).. Noma Elec (a40¢). North Am L&P.. North AmL&P pf - North Pipe L(30c) Nor States Pwr A. N W Eng (a26¢).. 2 Novadel Ag (2) .. 3 354 35 ©Ohio Oil cu pf (6) 100s 1083 1083 108% Ohio Pwr pf (6)_.100s 108 109 109 Okla NatGasCo.. 7 11§ 11 11 Okla Nat Gas pf..150s 80 2934 293 Oldetyme Distil__. 11 6} 64 64 Pacific Eastern... 37 5% 6% 6% PacificG & E 1stpf (1) 2 p2)4 321 32% PacPublicSve... 4 7% T4 T4 Pacific Public Sve I1stpf (11.17%)_ 2 26% 25% 25% Pan-Am Alr (1) 1 66} 56} 56}4 5% 8% 5% 5% 5% 5% 30s 11134 111 111 2208 11834 1113 1123 Phillips Packing.. 10 15 143 15% PhoenixSecur.... 13 6 6% 6 Pledm’t & Nor (3). 50s 593§ 593 593 Pie Bakeries t60c. 18 164 16) 163 Plerce Gov (alse) 7 18% 174 17% Pioneer Gold 5 Mine Ltd (80c) 17 7% 74 TH Pitney Bowes40c. 1 8 8 8 Pittsb’gh Forging 3 11§ 1134 114 Pitts& LE12% 100s 94 94 94 Pittsb’zh P G(12) 300s 132 130 130 Plough Inc (1.20). 2 16} 16} 16% PotreroSugar __ 48 bB% B4 65X Powdrl& Alx60c. 7 9% 9 94 Promier Gold t12¢ 65 31 3% 84 Pressed Met 1% _. 13 37%- 37 37% Producers Royal. 1 % % £ ty Co (B) 21 164 163§ 163 101 101 PubSColopf (7). 10s 111 111 111 PubSvsindpf...130s 82 32 32 PubSvs Ind pr of. 30s 873§ 67 674 Public Sve Okla prior len (6).. 60s 98 97§ 98 Puget Sound 834 834 a“ 15 915 24 728 381 15 991§ 258 86 86 10 8 s % 20s 1453¢ 14534 14534 2 T4 A TH 21 “y 2 24 2 2 19% 19% 3 49%4 10 234 » 85 034 24 125 381, 144 508 2 258 50a 7 58 9934 1 . 5 1 s 1 10 1 268 5% B4Yg u% 13 1 2 10 10 50s & 1 Pennroad (a25c)_. Penn P& L (7) Pepperell Mfg P&Lpf (5)...100s 83} Puget Sound Pwr &Lts6ot ____. Pyrene Mig (40¢c). Ry&Lt Sec(a2be). 255 322% Raym'd Con a25e_500s 17§ 1 268 43 1 84 84 gl A.T.&T.EARNINGS COVER DIVIDEND Requirements Met for First Time in 5 Years—Net at $43,182,751. By the Asscciated Press. NEW YORK, Cctober 15.—For the first time in five years the American Telephorie & Telegraph Co. and the Bell System have earned their interim dividends, the parent company's re- port for the Seplember quarter showed today. Net income of American Telephone for the latest period totaled $43,- 182,751, equal to $2.31 a common share, compared with $31,720,108, or $1.70, in the 1935 third quarter. On a share basis the dividend require- ments are $2.25. Consolidated net profit of the Bell System, which embraces American Telephone and 23 associated telephone companies, for the quarter ended Au- gust 31 totaled $47,121,177, or $2.30 a share on the American Telephone common. This compares with $32,- 866,458, or $1.56 a share in the like 1935 period. ‘The report said the Bell System had a net gain of about 600,000 telephones in the first nine months of this year, or about twice the gain shown in the comparable 1935 period. The num- ber of toll and long-distance calls for the first three quarters ran ap- proximately 12 per cent ahead of a year ago it showed. The last time American Telephone earned its dividend requirements was in the second quarter of 1931 when $43,772,778 or $2.36 a share was shown. The Bell System, company officials said, last earned its American Tele- phone dividend requirements in the same quarter of 1931, although earn- ings applicable to the parent com- pany’s stock were not made public at the time. For the 12 months ended September 30 last, American Telephone earned | $149,761,285 or $8.02 a common share | compared with $122,417,405 or $6.56 | in the preceding like period. The Bell System in the 12 months ended August 31 showed net income of $181,067,424 or $8.87 a share on Ameri~ can Telephone common compared with $133 427,299 or $6.38 a share in the precedirg like period. | —_— Chicago, Milwaukee, St. Paul & Pacific R. R—Deficit, eight months ended August 31, was $11,116,337, against deficit of $15,264,538. Stocks ana Sales— Dividend Rate. Add 00. High. Low. Close Raym'd Con pf(3) 250s 434 42)4 43 Red Bank % uyg 1y Reed RB 32 324 Reybarn Co a25c-. 5 b4 214 234 14 Revnolds Invest_ Rice Stix DG b50¢ Richfield Oil of Calif pf (4) Richm'd Radiator. | Rochester Gas & | Elecpf B (7)..1008 | Roosevelt Field__. 1 Root Pet'm(a25e). 13 Ri h Av(1). 2 Rus Ir&stl. 17 St Regis Paper... 49 St Regis Paper pf 1208 SavovOll ____.. 2 Schiff (The)Co (3) 4 Schulte Real E(d) 1 Scoville Mfg 21.502008 Segal Lock & H 18 Seiberling Rubl Selected Indu: 1 & Shattuck Den Min Shenandoah pf$3. 1 Sherwin-Will (4).100s | Singer Mfg (16)_. 30s Smith-Corona Type v.t.c. ext (a26c). 1 Sonotone C(alle). 12 South’n Calif Ed ot B (13%) Southern P L 20c- Spencer Chain Stores (60c)___. 4 Square D pf A 2.20150s Stand Dredg cv pf100s Stand Ofl Ky 1.4%. 11 Stand Of1 O a260.. 32 Stand Pwr &Lt . 6 Stand Prod (a25c) Stand Sil&Ld adc- Sterchi Bros.. ... Sterling Br (a45c) Sterling Inc(ase). Stetson (J B). Stuts Motor.____. 20 Sullivan Machine. 1 Sunray Oil (a5c).. 24 Sunshine Min (2). 70 Swiss-Am Elec pf 2508 Swiss Oil (40c)... 8 Taggart Corp____. 13 teyeast(DeDA 15 Taylor Dist (bsc). 7 - Technicolor Inc . 41 Tech Hughes t4 2 Tenn Elec Pwr 1st pf (7). Tenn Products .. 1 Texas Gulf Prod.. 155 Texon Ofl & L 60c. 2 ‘Thew Shovel Coal 850s Tilo Roof (t50c)_. 2 Tobacco Products Export (10c) . Tobac Secald 4-5¢ 1 1 1 . 6 2 22 3008 258 % | Tobacco Secur def ‘Todd Shipyard (2) Trans-Lux Daylite Plc 8n (20¢) ... Tri-Contl C war__. Tubize Chatillion. ‘Tubize Chatl (A)- Tung-Sol Lamp n. ‘Tung Sol Lamp of (80c) new___ Twin Coach (40¢). Ulen & Co 5% pf . Ulen&Co 7% % pf- Union Gas of Cana (a22%e). Unit Corp war.... Unit Gas COrp--.. Unit Gas C wa: Unit Gas pf(3: Unit Lt & Pw (A, Unit Profit Share United Shipyds B Unit Shoe M 12%.400s U S Foll(B)(60c). 3 USLinespf oo, 6 U S Radiator_____ U S Radiator pf_.. U 8 Rub Reclaim.. 12 50s ($2.91 2-3¢). 2508 68} Utilitles Pwr &Lt 1 Util Pwr&Lt (B). 2 Util Pwr & Lt pf_. 200s Util & Ind (new).. Venezuela Mex O Venezuela Petrol._. Vogt Mfg Co (1) Waco Afrcraft.... Suman woo - W W Va Coal & Coke West'n Md pf .. Williams Oil-0- Matic (a26€) ... Wil-low Cafeteria. Wil-low Cafe pf_. Wilson-Jones (2). Wolverine Port C.. ‘Wright Harg t40c. Youngstown Steel Door (a25e). " Boumre EW YORK (Continued From Twenty-second Page.) 2:16 p.m. Stockand Sales— Net Dividend Rate. _ Add 00. High. Low. Close. Chge. 3% White Sewing Mch. 1 - % 16 White Sew Mch pf_. 3 1 -1 6% Wilson & Co (50c).. 8 - % 70 Wilson & Co pf (6)— 9% —1% 44% Woolworth (3.40) . 61% + % 23% Worthington Pump 30 8% + % N STOCK EXCHANGE Prev. 1036 High. Low. Dividend Rate. 22% 8% Yellow Truck - 55 Spr&W (13). 87% 41% Youngs'tn Sheet&T. 40% 11% Zenith Radio... 38% 381 9% 6% Zonite Products.... 89 8% 8% 8% + % Approximate Sales of Stocks on the N. Y. Steck Exchange. 00 A M.ceeeo. 460,000 12:00 NOOoee..., 780,000 PM.oeo. 101Q.000 2:00 P.M..__ 1.250.000 56 Worth Pump pf A-. % 47 Worth Pump pf B.. 71 0% 71 +1 Dividend rates as siven ip the sbove tabls sre the annual cash 20% 120% 1204 +1% | P*Tnlt of trading sess than 100 sha 5 .fl;u‘:.lel:-'w—"m:;i 62% Wright Aero _ shares. 69 68% 69 mfil‘fl".'.'n extras. imuiated dividends. & Paid this year. 63 Wrigley W ir (13). b 33% Yale & Towne (60c) 7 4d% 44% d4ds — % |D50id last year 4 Companies reported in recsiversbip or being SOUTHERN RAILWAY PLACES BIG ORDER INSURANCE STOCKS NEW YORK. Oct B (P —] Becurity Deaters’ Assoctation, —Ne¥ York — Net Add 00. High. Low. Close. Chge. 19 19% 19% 19% 49% 49% — % 86 26% Bie Asked. 10315 3 107 ) 8 9% 60% 30 m ( remens Nwk Prank Pire (1a) Gen Alliance (80) Qlen Palle (1.60) 5 508 1 2 Louisville & Nashville 27,000 tons last Track fastenings and other acces- sories will increase the tonnage by ap- proximately 10 per cent and bring the Hanover (1.60) Harmonia _(1.20) Hartford Pire (2 COMMODITY EXCHANGE VICE PRESIDENT NAMED By the Associated Press. Pomestead (1) Lincoln Fire __ Natl Fire () 23,000 Tons of Steel Rails to Be Delivered During First Quarter of 1937, BY the Assoctated Press. BIRMINGHAM, Ala., October 15.— The Southern Railway System placed an order for 23,000 tons of steel rails yesterday with the Tennessee Coal, Iron & Railroad Co. Slated for delivery in the first quar- ter of 1937, the rails will be rolled at the Ensley Works here after the rail mill resumes operations November 1. The Southern order was the third total purchase price to a figure ap- proximating $2,500,000. Steel production in the Birmingham area will rise to 71 per cent of ca- pacity, the highest in more than five years, when the rail mill resumes op- erations. Two blast furnaces, making 900 tons of pig iron daily, have been blown in at Ensley, and another is expected to be blown in within the next 30 days. _— FAILURES TOTAL HIGHER. NEW YORK, October 15 (#).—Busi- ness failures numbered 164 in the week ended October 8, compared with NEW YORK, October 15.—Harold L. Bache of J. 8, Bache & Co. has’ been elected vice president of the Commodity Exchange, heading the commission house group of that ex- Natl Liberty (.20a) N Hamoshire N Y Fire (.60 or River (.8 hoenix (2a) Prov Wash (1) change. He succeeds J. Chester Cuppia of E. A. Pierce & Co. and becomes fi mem- ber of the Executive Ci of the exchange. P. & G. CHIEF CHEERFUL. NEW YORK, October 15 (#.—R.R. Deupree, president of Proctor & Gam- ble Co., soap manufacturers, told stockholders at the annual meeting in Cincinnnati that business was good B Paul Soringfiel Sun Life _ Travelers (18) U 8 Pire (1.80) Westchester (1a Also_extra or extra: Declared or paid so BOND BID IS KECORPD. SALISBURY, Md., October 15 (). —A syndicate of five Baltimore in- vestment banking firms bid 101.489 |for a $200,000 Wicomico County school bond issue. Carroll E. Bounds, 5 far this year, 147 in the preceding week and 175 in | and it seemed certain it would con- the like 1935 period, Dun & Brad-|tinue that way in the next few | street reported today. months. placed here within two weeks. The Nashville, Chattanooga & St. Louis ordered 6,075 tons yesterday and the attorney to the county commissioners, ‘smd it was the best price on record for county or city bonds. This is not an Offering Progpectus. The offer of these Debentures is made only by means of the Offering Prospectus. This issue, though registered, is not epproved or disspproved by the Securities and Exchan, Commission, 2 which does not pess on the merits of any registered securities. i $175,000,000 (of which $150,000,000 are publicly offered) American Telephone and Telegraph Company Twenty-Five Year 3Y,% Debentures 5 Dated October 1, 1936 - Due October 1, 1961 Interest payable April 1 and October 1 in New York City Coupon Debentun_s in denominations of $1,000 and $500, registerable as to principal. Registered Debentures in _denomimti.am of $1,000, $5,000, $10,000 and $100,000. Coupon Debentures and registered Debentures, and the several denominations, in terchangeable. Redeemable, at the option of the Company, in whole or in part, upon at least 60 s’ notice, on any interest ment date, ot The fullowing prices with eccyued Lnierest: to cod Tocluding Getobert e 10754%; therealter to and including October 1, 1951, 105%; thereafter to and including October 1, 1957, 102/3%; and thereafter, 100%. The foldlowing is merely a brief outline of certain information contained in the Offering Prospectus and. issubject to the moredetailed statementsin the Offering Prospectus and the Registration Statement, which also include important information not outlined Or indicated herein. The Offering Prospectus, which must be furnished to each purchaser, should be read prior to any purchase of these Debentures. THE COMPANY American Telephone and Telegraph Company, incorporated in New York in 1885, and its telephone Lk lyhndurm are molnq principally in furnishing communication services, mainly telephone service, in the United States. The properties of the Company consist mainly of toll lines and toll switchboards, and those of its telephone subsidiaries consist mainly of exchange and toll lines, switchboards, buildings, telephone instruments and related equipment. The Company and its telephone subsidiaries are subject to regulation by the Federal Communications Commission and by public service commissions or state or local authorities, within their respective jurisdictions. The Federal Communications Commission is presently engaged in an investigation :I the Co’r'npu_l' :‘:d lll‘ "c‘ubnil:’nui West, ” Blc':,tric Comp:n', :r:’towon!d, a :n-t,e‘lephouhm'l:lid:r'j‘. is 'ngaged principally in manufacture of telephone ratus a uipment about of which is to the Compeny and its telephone subsidiaries. o ok > CAPITALIZATION (The Company and its Principal Tolophons Subsidiarico—Consolidated)s Funded Debt of subsidiaries consolidated............c.......... Notes Sold to Trustee of Pension Funds—subsidiaries consolidated. ... .. Funded Debt of the Company Notes Sold to Trustee of Pension F Preferred stocks of subsidiaries consolidated—held b locks of subsidiaries consolidat Outstanding as of ———— $ 437,594,215 114,373,295 440,543,600 11,022,113 104,311,530 86,709,953 1,867,528,300 by the pul Common st ed—heid by the public Capital Stock (18,675,283 shares, par value $109) of the Company' ®Represenis par or stated vaine. 1ds of June 30, 1936 there were 11,659 shares under subscription at §150 per share by employees (imeluding officers) of the Company and of certsin other corporations to which the Employees’ Stock Plan wes extended. 129,230 shares are authorized for issuance to cover conversions of certain bonds of the Company. PURPOSE The net proceeds, exclusive of accrued interest, from the sale of the Debentures, after deducting OF ISSUE the estimated expenses of the Company in connection with such sale, are expected to approximate 4 $172,710,000 and are to be applied toward the retirement of the Company’s paesently outstanding issue of $117,984,708 of Thirty-Five Year Sinking Fund 5% Debentures, due January 1, 1960, which the Company intends to call for redemption on J§nuary 1, 1937 at 110% of their principal amount ($129,783,170) and accrued interest; and toward the retirement of the Company’s presently outstanding issue of 564,865,200 of Thirty Year Five Per Cent. Collateral Trust Bonds, due December 1, 1946, which the Company is calling for redemption on Dmgnbcr 1, 1936 at 105% of their principal amount ($68,108,469) and accrued interest. The Company expects to obtain the balance (approximately $25,182,000) of the requirements for such redemptions, exclusive of accrued interest, from its current cash and temporary cesh investments. The following figures are taken from the Consolidated Income Statements of the Company and its R principal telephone subsidiaries in the Offering Prospectus and must be read in conjunction with such income statements and the notes appended thereto. The Offering Prospectus also contains separate Income Statements of the Company. The Registration Statement contains, in addition to the foregoing, Consolidated Prefit and Loss Statements of Western Electric Compeny, Incorporated, and its 100% directly-owned subsidiaries. Siz Months ended June 30, 1936 $488,870,271 $104,506 678 11,583,352 3116,3%0 030 31,310,177 $ 85,079,853 EARNINGS Yoar 1335 $919,116,223 $183,160,747 14,346,928 $197,507 675 64,589,182 $132,918,493 Year 1934 869,525 401 175,042,544 5,596,902 $180,639,446 69,332,407 $111,307,039 Yoar 1933 3853,825,376 $165,969,789 157,067° Net Operating Income Other Income Total Income. nterest and Other Deductions Consolidated Net Income.:........ *Negative amount. The figures for 198} reflect adjustments mede in verious @cconnts in connection with refunds ordered in certain rete cases. Provision, if any required, for Federsl suriax on undistributed sarnings for 1956 cannot be detormined until the end of the year. Other Income includes dividend, interest and miscellaneous income of the consolidated group. It also includes the proportionate interest of the compenies comprising the consolideted growp in the earnings or deficits (ofter dividends) of ald smbsidiaries not consolideted, inciuding Western Electric Compeny. PEBENTURES The Twenty-Five Year 3/,% Debentiires will be issued under an Indenture dated as of October 1, 1936 between the Company and Central Hanover Bank and Trust Company (New York City), Trustee. This issue of Debentures is not secured. It is limited to $175,000,000 but the Indenture does not limit the amount of other securities or indebtedness, either secured or unsecured, which may be issued or incurred by the Company or by subsidiaries of the Company. The Indenture contains a covenant that if the Company shall pledge as security for any indebtedness or obligations eny stock, owned by it at the date of said Indenture or thereafter acquired, of any tel corporation doing business in the United States of America, or of any corporation owning 50% or more of the voting securities of any such telephone corporation, the Company will secure the outstanding Debentures of this issue ratably with the indebtedness or obligations secured by such pledge. UNDERWRITING Subject to certain terms and conditions, the Underuriters named in the Offering Prospectus have severally agreed to purchase an aggregate of $150,000,000 of these Debentures from the Company at 99%, or a total of $148,500,000, plus accrued interest. Such Debentures are to be offered to the public at 101%, or a totel of $151,500,000, plus accrued interest. The underwriting discounts are 2%, or a total of $3,000,000. There is no firm commitment for the remaining $25,000,000 of Debentures, but the Company is witholding such Debentures for sale, on or before January 1, 1937, only to the Trustee of Pension Funds established by the Coi ny and by certain of its subsidiaries, without underwriting discounts or commissions, at 99%,or a total of 524,750,000, Pplus accrued interest. $165,812,722 “ee 65,304,258 $100,508,464 Price 101% and Accrued Interest The Underwriters, including the undersigned and the others named in the Offering Prospectus, have agreed to purchase §150,000,000 of these Debentures on the terms and conditions set forth in the Purchase Agreement, including the approval of legal matters by Messrs. Davis Polk Wardwell Gardiner & Reed, counsel for the Underwriters, and Mr. Charles M. Bracelen, counsel for the Company. It is expected that delivery of Debentures in temporary form will be made at the office of J. P. Morgan & Co. on or about October 22, 1936, against payment therefor in New York funds. s set forth in the Offering Prospectus, the Underwriters have auihorized the purchase and sale, in the open market or otherwise, of Debentures for their several accounts, either for long or short account within the limits and duzing the period set forth in the dgreement between themselves, Further information, perticularly financial statements, is contained in the Registration Statement on e with the th.ew:.ulm:. gmminlu,ndht Offering Prospectus which must be furnished to each purchaser and is obtainable from the undersigned or from any other underwriter of this issue. MORGAN STANLEY & CO. Imoerpor ated KIDDER, PEABODY & CO. THE FIRST BOSTON CORPORATION EDWARD B. SMITH & CO. KUBN, LOEB & CO. LEE HIGGINSON CORPORATION BROWN HARRIMAN & CO. W