Evening Star Newspaper, October 27, 1936, Page 19

1IN * CURB LIST MOVES TOHIGHER LEVELS Gains Range Up to Five Points Among Leaders and Specialties. By the Associated Press. NEW YORK, October 27.—The Curb market was in a rallying mood today, showing advances ranging up to about 5 points in the trading leaders and a varied group of industrial specialties. Gains were widest in the stock which suffered the extreme losses in yester day’s selling. . Aluminum Co. of Amer- ica got up.around 3, while Great At- lantic & Pacific, Electric Bond & | Share, -American Cyanamid “B,” | Niagara-Hudson Power, Technicolor, | Pittsburgh Plate Glass and Sherwin- | Williams came back from fractions to around 2. . E. L. Bruce Co. moved up about 5. | Backlog; Assure Steel Activitv for | . Remainder of 1936 Bs the Assoclated Press. CLEVELAND, Ohio, October 27.— Daily Metal Trade today says: Reflecting continued good consump- tion, specifications for commercial steel bars and flat-rolled products are being | Bauman (L) 7% ANCIAL Stocks and Salss— | Dividend Rate. Add 00. Adams Millis 1st pf (7). Aero Sup 4 Air Inv ine war _ 7 AlaGr'tSoual% 60s Alum’n Coof Am 450s Alum Goods t60c 1 Alum'nLtd ... 1 amCP&L B (a20c) . __—- Am Cynam B60c. 11 Am & For Pw ww 1 Am Fork & H (1) 850s Am G&E (1.40) 12 Am Gen Corp 11 Am Gen C'p pf(2) 300s Am Laun Mch 60¢c 2 Am Mfg Co 758 Am Maracaibo 2 Am Meter (a76c). 4 Am Potash & Cal100s Am Superpower 46 Apex Elec Mg 3 Arcturus Radio T 14 Ark Nat Gas __ 2 Ark Nat Gas cu pf Ark Nat Gas (A). Art Met Wks 60c Asso Elec [nd Ltd (a29 7-10¢) Ass0 G & Elec.. AssoG & E (A) Ass0G & E $5 of Assoo Invest 11% 1008 Asso Rayon . 2 Atl Coast Fisher.. Atlas Corp (a80c) Atlas Corp war . AtlasCof A (3)_. Atlas Plywd ab0c.. Austin Stlver Auto Froducts.... Auto Vot M(150¢c) 1 Babcock& W1l (1) 460« Baldw L bd rts(d) €00 ,Barium Stain Stl. 4 10s 3 1 7 5 1 3 47 10 3 1 2 2 - raft 10 Bell Telephone of Penna pf (6%)- 10s well mantained. New orders, how- ever, are less numerous, as might be | expected in view of the heavy pro- tective covering during September. | Mill backlogs are sufficiently large to assure active steelmaking through | the remainder of the year. Consider- dble puying is expected to be done by the automotive industry over the next few weeks to substantially offset the lag in demand from other directions which is certain to accompany the €old weather. | CURB BONDS DOMESTIC BONDS. Amer P & L 6 Am Roll Mill Appalen Pow Arkans P | Bridgep’t Mach _. Berkey & Gay Furniture Co. Berkey & Gay i Furp pur war. Bickfords Inc (1). Black & Decker . Bliss Co (E W) Blue Ridge Callc Blue Ridge cv f 3 Blumenthal S Bohack HC 1st pf Borne-Scry al -. Bower Roller Bearing (al%) Bowman-Bilt Hot Bowm’'n-Biltmore Hotels 1st pt 220s Bowman-Biltmore Hotels 2d pf__ 1;4 1 5508 1 Brillo Mfg (60¢) Brown Co of Brown Forman Buffalo Niag & E | P of (160 Buffalo Niagara & Estpt 1st pf(5100s Burma Ltd (a12 9-10c) - Butler Bros 2 * | cable E) Proa vie A0 G & E A G&E 5las Brmngm El 4'as Brmham Gas 5 ol er: nterst PS 4!, Jacksonvl 5 10034 | ang X 1057 10234 | 1030 | 10334 1913 | 10| | Detrott G | Can Car & Fdry pt | Can Ind Alco (B) - Can Marconi Carib Svndicate (o 10 10 Sos 258 asco Products.__ | Catalin Corp Celanese pr pf (7) Celluloid Corp pf - Cent HG&E vite (80c) 1 States Elec entral States Electric 7% pf 1508 Centrifugal P 40¢c 97 Chi Flex Shaft t2 150« Childs Copf ____ 1258 Citles Service a1 Cities Service pf 2 City Aut Stpg 60¢ 1 Clayton & Lambert (a20¢) Clev Tractor Clinchfield Coal Colon Develop Co Ltd (The) Coli s PEA (1%). Columbia Gas & Elev cv pf (5) 4762 Columb O11 & Gas 41 Commwlith Dis___ 17 'm’with Eo (4) 2 Com'with & S war 14 Community PS t1 Consol Atrcraft_ Consal Copper. Consol Gas of Palto (3.60) Cons Retall St Consol Retail Strs 8% of (34) Cons Royal (20c). Cont Roll & Steel Foundry .. Cooper Bessemer. Cooper Bess of A_ Conper Rang Cord Corp - Corroon & Reyn _ Cosden O11 Me (d) Cosden&Me of (d) Creole Pet (a25¢). Crocker ¥ heeler. Croft Brewing .. Crown Cent Pet _ Crown Drug a20c._ Crystal Oil Ref__. Cusi Mex Mining. Darby Petr (50¢) Dennison 7% pf-. Derby Ol & R = et pf ww (1.29) Det Stl Prod a50c 1 % 1 4 1508 2 1 4 | Diamond Shoe (2) E 5las WU GE ; 1 Wisc P&L 45 A 2100% ¢ FORI A s RS>, Danzig Por 6i3s Hanover City ¥s 56 warrants. xw—Without warr N =3 ts. n- ew. wi—When issued. sgun-sumped ‘ompanies reported in receivership. §Negotiability impaired by maturity. PLANES DELIVERED. NEW YORK, October 27 (#).—Lock- heed: Aircraft Corp. has announced the delivery of two of its $50,000 10- passenger transport planes to Na- tional Airways. Inc. The new planes are for operation on the lines of the Boston-Maine &. Central Vermont Afrways, air subsidiary of the Boston & "Maine Railroad, Maine Central Rafifoad and the Central Vermont Raitway. “AOME EARNINGS SHOWN. ‘NEW YORK, October 27 (#).—Na- tional Acme Co., Cleveland, machine tools, reported for the quarter ended September 30 net profit of $160,816, equairto 33 cents a share on capital stoek © before ' provision for undis- tributed profits surtax. This com- pared with $168,133 or 33 cents a share in preceding quarter and $34,834 Dictograph (aifc) Distilled Liquors. Doehler Dife- Casting (a50c)_ Domin 8 & C (B) . Dow Chem (2.40). Driver Harris(1). Eagle Pitch L 40e East'n G&F Asso East'n Gas & Fuel Assoc pf (6) 10 7 17 0 1 5 4 100s 2 | Bast'n Gas & Fuel prior pf (4% ) Eastn States Pwr Eastn Sta Pw (A) Eastn Sta Pw (B) Easy Washing Mach (B) t60¢ Eisler Elec Corp - Elec Bond&Share Elec BA&Sh of (6) Elec Power Asso Inc (allc) - 758 | Elec Power Asso Inc A (a10c) - Elec Sharehold’z. Emp Dis Elec pf _ Smsco Derrick(1) Equity Corp European Electrio Ltd bd rts Ex-Cell-O Air- craft & T t60c_. Fairchild Av new. Falstaff Brewery. Fanny Farmer Candy (50¢) ... isk Rubber ... Fla P& L of Ford Motor Ltd (al8 1-10e __.. Ford Motor (Can) A (a76¢) Froedtert Gr& M conv pf (1.20) Gen Firepr'f t40¢ Gen Gas & Elec conv pf (B) __ Georgla Pw pf (6) Gilbert (A C) Gilbert(AC)pf 3% Glen Alden C (1) Godenauz Sug(B) Gorham vtc ex(1) Graod Nat #1lms Gray Tel PS (1) Grest Atl & Pao Tea n-y (16) _. Great Atl & Pae Tea 1st pf (7). Great Northern Paper (1) .. Gulf Ol (1) Hall Lamp (a20c) Hazeltine (3) Hecla Min (60¢) ... Hollinger Consol 608 ot:¥ tents a.share in the like perfod year. Gold M Ltd t65c. Horn&Hard 11.6f High. Low. Close. 11014 110% 110 3% 8% 34 3% 121% 1063, 254 13}y 1 24 5% 174 3y 3415 16, 26in 833 103 33 17 1% 8 61 2134 25s 127 3434 15 101% 5% 17% Y4 18% 3634 5 80 126% 175 54 63 35 2% 233 404 10% 3614 4 3 80 " 121% 127 3434 99 5% 17% 1 13% 8635 5% 80 128 17 [ 61 5% 27§ 23y 40% 10% 37% 24% 39 % 41% 39 23§ 0% 1 105 116 116 116 127 3435 10034 53 | Stutz Motor 17% 1 18/ N | Nat Refintng _____ ! Niles-Bem-P (al). | NorthAm L&P _ | North Pipe L(30c) | Penna Salt (4)_ Penn Wat & P (4) NEW YORK CURB MARKE By private wire direct to The Star. Stocks and Sales— Dividend Rate. Add 00. Horn & Hardpf(7) 0s Hudson BM&S (1) 3 Humble Of1 (t1).. 9 Huylers of Del 7% pf stpd (d) 1608 Hygrade Food 2 Hygrade Syl (2).. 508 1 Pw&Lt $6 of 500 Imp Chemical Indus (a20%c¢) Imp'Ofl Ltd eoupon (+50c) Indianapolis P&L cum pf (6%) 258 Indiana Svc 6% pf110s ind Service 7% pf 80s Ins Co of N Am(2)250s Intl Cgr Macht2_. 2 intl Hydro Elec Systemcvof __ Int Mining (60c).. Intl Mining war_. Int] Petro (t134). Intl Product: fntl OH1 (B) . Intl Util war new. Intl Vitamin t40c Interstate Power (Del) pf Ital Superpwr(A) Jacobs(F L)Co(1) Jer !6! CentP&L % % ot Jersey Cent P& L of (6) Jersey Central P&EL(T) .. Jones &Laugh Stl. Kansas City Pub Sve vienf A . Kingst'n Pralle.. Kirby Pet (20c)__ Kleinert (I B) Rubber C a4le .. Knott Corp (20¢). Koppers Gas & Coke pf (6) _. Kreuger Brew (1) Lake Shore M (4). Lakey F'v & Mach Lehizh C&N(30¢). Leonard Oil cem Lion Oil R (a50¢). Lit Brothers Lockheed Aircraft Lone-Star Gas 40c Long Island Light Long IsLtpf AT, 1.a Land (40c) __. Lucky T (t12¢). High. Low. Close. 108% 108 108 28% o 28% 66} 64 66) 17 1634 5% o 4% 4% G AT AT 3% 1034 22% 1 2 EETTE LIS 8% 1108 253 ‘1 6 16 1258 89 10034 % o4 5 % 534 12% 5% 9034 12% | McCord Rad (B).. Mangel Stor Mangel Stores pf_ | Marion Steam Sh. | Masonite Corp t1. Mass Util Asso. | Massey Harri Memphis N G a20e Merch&Mfr A alsec Merritt Chap & S Mesabli Iron | Mich Bumper C’p. Mich Steel P (1).. Middle States Petrol vte (A).. | Middle States Petroi vte (B)__ | Mid-West Abras_ Midl'd Stl Prod(2) Mock Judson V__. Malybdenum Corp Movudy’s Inv Sve part pf (3) Moore Dist (t50¢) Mount Prod (60c) Mueller Bra {7 Nat Bella Hess Nat Container (2) Nat Gypsum (A). at Investors Nat Inv pf(a1.50) 30s Nat P & Lt pf (6) 150s 1 Nat Rubber Mach N eel Car Ltd Nat Transit (76c) Nat Union Radio Nehi Corp - Neisner Br pf (7) 100 Neptune Met (A)_ Nestle-Le Mur_ Nev-Cal Elce New Brad O al0c_ New Haven Clock N J Zine (12) Newm't Min t1% NY Auctionaéije N Y Steam _ N Y Tel pf (634)_ 125 Niag Hud Pwr 3 Niazara Hudson Pwr (A) war __ Niagara Shares (Md) B (al0c) 504 4 s 1 2 2 s 1 1 134 19 3y 1y i 20s 1 3 8008 2 3 1 . 7 18 18 15% 1 1 Nipissing (as0e).. 4 North AmL&P of North'n Europ Oil North’n (nd Pub Sve 6% pf (3) . 1 508 1 10s 2 8 1 10 2 3 12 Nor States Pwr A. Novadel Ag (2) . Okla Nat Gas Co.. Oldetyme Distil _ Overseas S (a50c) Pacific Easterna_. | Pacific G & B Istof (1%).... 12 Pacific Ltg ot (6) 100s | Pac Public Sve Pacific Public Sve Istpf (31.17%). 1 | Pac Tin spec (12) 100s | Pan-Am Afr (1).. 74| Pantepec Oll 2 - %0 Pennroad (a25c).. 9 Penn P & L (7)__. 2008 1008 2 Pepperell Mfg (6) 20s Phillips Pkg a25c. Phoenix Secur . Pie Bakeries 160c. Pierce Gov (al15e) Pines Wint'rft(n) Pioneer Gold Mine Ltd (80¢) Pittsb'gh Forging & 13 Pitts & L E 123% 1008 951§ Pittsb’zh P G(12) 200s 126 Potrero Sugar 3 4% Powdrl & Alx60c. 1 9 Power Corp of Canada 1st pf(6) 20s 102 Prenier Gold t12e 10 3 Producers Royal 26 % Prosperity Co (B) 4 15% Prudential [nvest 6 11 Pub Svs ind pr pf 300s 68} PubSvs Ind pt .. 20s 89% Public Sve Okla prior lien (6).. 108 97} Puget Sound P& Lpf (5)... 100s 813 Puget Sound Pwr &LtS6pf . . 150 43 Quaker Oats pf(6) 10s 144 Quebec Power (1) 75s 19% Ry&Lt Sec(a25c) 268 2254 Rainbow Lum (A) 1 Raym'd Con a2se 268 Reed R B new 808 1 Reiter-Fo: Reybarn Co a2be... Revnolds Invest . Rice Stix DG b50c Roosevelt Field _ Root Pet'm(a26¢) Root Petrol'm ev pr pf (1.20) .. Russek 5th Av(1) Rustless Ir & Stl. St Regis Paper St Regis Paper pf. Secur Corp Gen._. Sezal Lock & H _ Seiberling Rubber Selected Indus - Selected Indus allott ctfs(5%). Sent Saf Control .. Seton Lea.ber Shattuck Den Min Shenandoah Corn 12 Sherwin-Will'(4) 100s 134 Smith-Corona Typn v.t.c ext (a25c). 4 So Penn Ofl(t1%) 1 Spencer Chain Stores (60c) _ 2 Square D pf A 2.20 50s Stand Ofl Ky 1. [} Stand Oil Neb - Stand O11 O az6e . Stand Pwr & Lt Stand Prod (a26c) Stand Si1&Ld ade. Starrett Corp vte. Sterchi Bros Sterling Br (a45¢) Sterling inc(abe). Stinnes (Hugo) Sunray Ofl (abe) .. Suashine Min (2) Swiss-Am Elec pf 4008 Swiss Ol (40¢)... 117 Taggart Corp...-. ¢ 1 | €quivalent, after only regular preferred 1% § | net of only $164,979 for 1932. 41 in the September quarter of 1935. i | ing quarter and net loss of $39,206 in . D. C, TUESDAY, OCTOBER 27, 1936. §3.773,272 EARNED BY GENERAL FOODS Quarterly Profit Compares With $2,907,715 for Same 1935 Period. BY the Associated Press. NEW YORK, October 27.—General Toods Corp., makers and nation-wide distributors of food specialties, reported for the quarter ended September 30 net earnings of $3,773,272 before surtax on undistributed profits, equal to 72 cents & share on the common, This compares with $2,776,778, or 53 cents a share in the previous quarter, and $2,907,715, or 56 cents a share in the comparable period of 1935. For the first nine months net income was $10,617,200, equal to $2.02 a com- mon share, against $8,770,437, or $1.67 a share for the similar period last year. National Supply Co. National Supply Co. of Delaware re- ported net income for the quarter end- ed September 30 of $1,047,312, after charges and normal Federal income tax, equal to $6.29 a share on the $7 preferred, upon which back dividends amounted to $35 a share September 30. Allowing for only Yegular quarterly dividend requirements on the preferred, the balance was equal to$1.98 a share on the common. This compares with $1,341,250, or $2.74 & common share in the preceding quarter and & net loss of $76,483 in the September, 1935, quarter. For the nine months ended Septem- ber 30 net income was $2,881843, dividend requirements, to $5.25 a share of common stock, against $85,297, or 51 cents a preferred share in the same period of 1935. General Motors. General Motors Corp. reported it | earned $175,198,624 in the nine months ended with September, the largest profit for a comparable period since 1929. The total surpassed that for the full year 1935, and was far above the | Profit applicable to the common | stock was equal to $3.92 a share. For the corresponding 1935 period net amounted to $114,482926, equal to $2.51 a share. For the full year the | total was $167,227,000, equal to $3.70 & common share. For the three months ended with September, net earnings were $34.- | | 626,078, equal to 75 cents & share, also | | the best for a comparable period since | 1929. In the same 1935 months the | | total was $30,753,088, or 66 cents a | share. Ruberoid Co. The Ruberoid Co., makers of build- ing products, reported for the quarter | | ended September 30 net profit after ¢ | depreciation, but before surtax on un- | distributed profits, of $398,036, equal to $3 a share on the common. This compares with net profits of $252,438, l or $1.90 a share for the preceding | quarter and $243,899, or $1.84 a share, | Ludlum Steel. | Ludlum Steel Co. and subsidiaries | | reported net profit of $270,968 for the September 30 quarter, equal to 54 cents | a share on 496,076 shares of common | stock, without provision for undis- | tributed profits surtax. This compared | with $271,369, equal to 55 cents a| | share, in the preceding quarter. In the | An, September quarter last year net profit of Ludlum, excluding subsidiaries, was $101.947, equal after quarterly dividend requirements on the preferred to 15| cents a share on 202155 common shares. Preferred stock was called for redemption last May. Superior Steel. Superior Steel Corp. of Pittsburgh | reported for the September quarter net income of $118,010, equal to $1.04 a share of capital stock, against $58.- 726, or 52 cents a share, in the preced- the like period last year. RAILWAY INCOMES. NEW YORK. October 27 (4 —Railroads | reporting September net cperating income (before fixed charges and other income) today included: 1936 1935, Burlington h. Boston & Maine [~ 661643 —_— METAL MARKET. NEW YORK, October 27 (#.—Copper steady; electrolytic spot and future, 10.00; export, 10.16a10.20. and nearby 44.50: 5 firm: spot New York. 4.70ad.75; Louis, 4.55; zine duli: East St. Louis spot and future, 4.85. Iron, sluminum, anti- mony. quicksilver, platinum and wol- framite unchanged. . Stocks and Sales— 10 6 4 67 23% 4 2 6% 6758 3714 8 13% Tasteyeasti Del)A Taylor Dist (b5c). Technicolor Ine ... Texas Gulf Prod.. ‘Texon Ofl & L 60c. Thew Shovel Coal Tilo Roof (t50¢) .. Tobacco Products Export (15¢) . ‘Todd Shipyard (2) Trans-Lux Daylite Plc Sn (20¢) . . Tubize Chatillion. Tung-§ol Lamp n. Twin Coach(a40c) Unexcelled Mfg-... Union Gas of 4 21% 6 5% 36 3% 1 1008 473" Unit Corp war.__ Unit Gas Corp..... Unit GasC war... Unit Gas pf(31% ) Unit Lt & Pw (A). Unit Lt & Pw (B). Unit Lt & Pw pf .. Unit Profit Share. Unit Shoe M 12%_ USLinespf.. __ U S Radiator pf... U S Rub Reclaim. Unit Stores vte Unit Verde Ex Unit Wall Paper.. Univ Pictures ... Univ Prod (a1%) 1 Utab P& L pf Util Pwr & Lt pt._. Utility Equities .. Utility Ea pf(3%) Util & Ind (mew)._. Util & Ind of (n).. Venezuela Mex O_ Wait & Bond (B).” Wayne Pump 17 Went'w'b Mf 1.2 W Va Coal & Coke Western Auto Supply A (3) 2608 € 63% 64 West’'n Cart pf(6) 26s 102§ 102}§ West'n Md pf 10s 1023 Will'ms(RC)a30c. Williams 01-0- Matio (a360) ... Wil-low Cafe pf__ Wilson-Jones (2). Woodley Pet(40c) Wright Harg 1400 Y'gst'n Steel a25c. ‘Yukon Gold (a8¢). a Dividend Rate. Add 00. High. Low. Close. | Te 1% 1% 1% % | Gt L Tow 7% How Many Shares of United States Steel Common Would 5000 Francs Buy? CHRISTMAS CLUB SAVINGS CLIMB Mutual Savings Banks Plan $43,863,809 Payments in Next Few Weeks. By the Associated Press. NEW YORK, October 27.—Deposits in Christmas clubs of mutual savings banks stand at the new peak of $43,- 863,809, to be distributed in the next few weeks among 1,063,509 depositors, the National Association of Mutual Savings Banks announced. This year's total represents a gain of $6,048,586 over 1935 and of 117,013 accounts. The average per account is | $41.24, an increase of $1.29 from last v ear. Holiday savers in mutual clubs of New York built up.the largest total, : amounting to $18,618,651. The second largest sum is in Massa- chusetts savings banks, the total being $11,500,000. Connecticut ranks next with $4,335,489. Washington Exchange Potomac Electric 67, pfd.—10 at 111, 10 at 111, Washington Gas Light Co.—10 at 81, 10 at 81, 10 at 81, 10 at 81, 60 at 81, 20 at 81, 10 at 81, 10 at 81, 10 at 81. National Capital Bank—28 at 129'. American Security & Trust Co.—5 at 261, 10 at 261, 10 at 261, 10 at 261. Peoples Drug Stores pfd.—6 at 112, AFTER CALL Capital Traction 55—$1,000 at 9215, $1,000 at 9215, Mergenthaler Linotype—10 at 531z, 50 at 53%;. American Security & Trust Co.—5 at 261. Bid and Asked Prices. BONDS. PUBLIC UTILITY Amer. Tel. & Tel 4135 _ Am. Te: & Tel Col. Tr acostia & Pot. 55 Ana. & Pol. gusr. C. & P. Tel. of Capital Tract City & Suburban 5s_ Georgetown Gas 1st 5s Chevy_Chase Club 5l3s Col. Country Club 5'as W. M. Cold Storage 5t STOCKS. PUBLIC UTILITY. Amer. Tel. & Tel. (8) 5 o 8) Ry. & El ofd. (5) BANK AND TRUST COMPANY. Amer. Sec. & Tr. Ct 2 ai Com. & Savini Liberty (3) Wash! = WathPEeah & @i T FIRE INSURANCE. American ;t?) - (1.60 National Union (. TITLE INSURANCE. lumbia (.30} d | Col Real Estate (6)"_. MISCELLANEOUS. Carpel Corp. (1.60) _ Lanston Morniotype (4) Mergenthaler Linotype ( S com. (t 243, f. & Wi 0. (3)__ 55 . & Loth. epm. (*1.50) 58 d. & lnflktgfd. (N.-- 120 :g}‘u di'ltdthfl. s extra §50¢ paid May 15. 1036: 50c pald Au- gust 15. 19: a—Aa % e h—75¢ exts *+_25¢ paid June 30. 1036. — DIVIDENDS ANNOUNCED YORK. October 27.—Dividends (firellr.d by the Standard Statis- BXtr oo Stock of Pay- Rate.riod record. able 256 =m 11-2 -16 NEW declared tics Corp. Ton Jackson_ tz Sim & Conl Dredge Minagad Faveom Vick Chem. 12%¢ - ts_oe Increased. n-c pf_$3.50 __ Fid Phenix Pire 1. Accumulated. % 87 oo Royal Tg" ,,‘% cm p! Sl nited Corp A____. = niv Wind 7% pf. $8.75 - Regular. e ¥4 %Bock __1 orham Mic vic expt 1bard. Spen. BAFIL 106 blaw Grocelerias A-25¢ 2%ec Q ~$1 wODOORO Dm0 o O MERGER PLAN APPROVED FOR GENERAL ASPHALT B9 the Associated Press. NEW YORK, October 27.—Stock- holders of General Asphalt Co., Phila- delphia, have approved a plan to eliminate three subsidiary companies and to change the name of the parent company to “The Barber Co., Inc.” | Stockholders also approved a plan to amend the certificate of incorpora- tion permitting directors to issue obli- gations secured by mortgage or other liens or convertible obligations without additional approval of stockholders. |KANSAS CITY SOUTHERN BY the Associated Press. KANSAS CITY, October 27.—C. E. | Johnston, president of the Kansas City Southern Railroad, announced. the road had placed orders for $4,600,000 worth of equipment. The orders, he said, included 10 heavy locomotives, 800 box cars, 100 gondola cars, four air-conditioned lightweight passenger coaches and one air-conditioned combination diner and chair car. | —_— INEW YORK BANK STOCKS NEW YORK. October 27 (7.—New York Security Dealers’ Associa (Quotations as of 2 o'clock.) Bid Asked Bk of Man 33 Bankers Tr (@) e Cen Han Bk & Tr (1) __ Chase Nat (] 40} Empire Tr (1! Pirst Nat (Bos) First N (100) Guaranty Tr (17} Irvine Tr (60)_ | Manufacturers Tr Manufacturers Tr pf Natl City (1) FEDERAL LAND BANKS NEW YORK. October 27 (P).—] Land Bank bonds: oten (Noon Quotations) - SUGAR MELT DOWN. NEW YORK, October 27 (#).—The sugar melt of 13 United States re- finers from January 1 to October 17 totaled 3,325.000 long tons, against | 3,410,000 in the like 1935 period, the Sugar Institute reported. Deliveries for the period were put at 2,995.000 long tons, against 3,225,000 a year ago. NEW YORK BAR SILVER. B the Associated Press. NEW YORK, October 27.—Bar silver steady and unchanged at 44%. PHILADELPHIA PRODUCE. PHILADELPHIA, October 27 (#).— Dressed poultry — Spring turkeys, fancy, 28-29. Live poultry, unchanged. Reversed action. | WILL SPEND $4,600,000 | FINANCILA SEARS WILL PAY EXTRA DIVIDENDS Total of About $3.50 a Share Or- dered to Avoid Big Tax on Profits. BY the Assoclated Press CHICAGO, October 27.—Holders of Sears, Roebuck & Co. common stock were in line today for two extra dividends totaling about $3.50 a share, announced by directors as a means of avoiding a large assessment of earn- L RISE CONTINUES INHOME BUILDING Sharp Revival Regarded as Promising Source of Sus- tained Recovery. BY FREDERICK GARDNER, Ascociateo Press Financias Writer NEW YORK, October 27.—“Home, Sweet Home” has emerged from a medley of business themes as one of the most popular recovery tunes of the year. A rising din of hammers and saws back in action on home construction sites has been music in the ears of manufacturers and dealers in building materials and residential equipment. Revival in this market is what many had been waiting for as probably the most promising source of sustained recovery. It had only & minor part in early phases of recovery and still is far from the booming proportions it at- tained from 1925 to 1929. But the upward swing has encouraged predic- tions of a faster rhythm next year. Climb Is Spectacular. On the basis of figures for the first nine months, residential building con- tracts for 1936 in the 37 States east of the Rocky Mountains are expected to approximate $800,000,000, compared with $478,000,000 last year and about $250,000,000 in 1934. The 1936 showing has been influ- enced by the Federal Government's $100,000,000 program of home con- struction for low-income groups. But it is traced mainly to such fundamental forces as rising rentals. declining vacancies, a return flow of population to the cities from farms, more marriages, expansion in mass income and release of pent-up needs accumulated in the years when new construction almost ceased. ings under the new Federal surtax. Directors, voting the first extra | dividend of $1.75, payable December 15 to stock of record November 6, and announcing a second of approxi- mately the same amount was planned for January, also voted approval yes- terday of an 800,000 share increase in | capital stock to 6,000,000 shares and | announced a special $1,500,000 wage . payment to employes. “In the opinion of your officers | and Board of Directors.” said a state- | ment to stockholders, “the company | is not justified in paying such a large surtax, to avoid which the major portion of our earnings must be dis- tributed to the shareholders.” | The December extra dividend was in addition to a regular quarterly dividend of 50 cents. SHORT-TERM SECURITIES. (Reported by Chas. D. Barney Co.) Bid Offe Am Tel & Tel 5'3s '4 AL Refinire Co 5s | Calif Packing Corp 3s Caio Clinch & Jhio 58 & wy 58 '39 1083 1 rant Ind 4 Houston Ol 538 40 Inter T & T 4138 ' Laclede Gas Licht 5 E & W R R o8 I 68 45 *38__ 5s ‘37 2 2 1 oo Rio Grande West 45 ‘38 - & Sou Pac R R of Cal 5s '37 Vanadium Corp 5 '41 Wabash Rwy Co | Warner Bros 6s ‘39 West N ¥ & Pa 5s Western Union Tel 53 P B CHICAGO LIVE STOCK. | _ CHICAGO. October 27 () (United States Department of Asriculture). —Hogs, 000, including 5W00 direct: open siow, | around steady with Monday's average | packers bidding 10al3 lower on rounds: early top. 9.60: bulk. better grade. | 190-240 pounds;’ : “most _160-180 9 . K.658: up to 8.00; de- : calves. 2.000: moderate teers and vearlings active 5840 higher for two days: 00. paid both fo Cattle. 8. supply of fed 15a25 higher: | extreme top. X | pound vearlings and 1.300-pound steers: choice light-weight steers. —also choice heifers extremely scarce: heifer top. 10.50: she stock fully steady: stockers active: bulls and vealers unchanged at 5.15 and 10.00 down. respectively. Sheep. 13.000. including ng directs: rong to highe; sheep steady: lambs dull weak: good to 9.00 freely: Westerns. 8.5029 010 mostl slaughter ewes around 2.50a3.7; AUTO SHOW PUZZLE CONTEST THIS 1S PUZZLE N Devotion. Drudge. Performs. Moored floats. Add a letter to each word shown site the new word. If the puzzle is ington Automotive Trade Association, Star, is conducting this contest. BUICK DODGE CADILLAC FORD CHEVROLET HUDSON CHRYSLER LAFAYETTE DE SOTO LA SALLE appear each day until November 10, | prior to this one may The Star. Solve each puzzle, and not earlier midnight, November 11, than twenty (20) words “As to Why I street northwest, Washington, D. C. that the entries show the new words. LINCOLN NASH OLDSMOBILE PACKARD PIERCE-ARROW The first puzzle appeared on October 22, 1936. A different one will It is not necessary to send in the in the left-hand column and rearrange the letters to spell a word for which the definition is given. Insert the new word below the definition and place the added letter in the last column oppo- solved correctly, the added letters will spell the trade name of one of the twenty (20) automobiles shown in the list below, to be exhibited at the Seventeenth Annual Automobile Show of Wash- ington, D. C., from November 14 to November 21, 1936, inclusive, at the Calvert Exhibit Hall, 2701 Calvert street northwest, under the auspices of the Wash- which, with the co-operation of The PLYMOUTH PONTIAC STUDEBAKER TERRAPLANE ZEPHYR 1936. The puzzles that have appeared be studied from the files in the business office of than November 10, but not later than send all of the solutions With a reason of not more an Automobile Show Should Be Held in Washington, D. C.” to the Washington Automotive Trade Association, 1427 actual puzzles, but it is compulsory The new words will not be given out late | At the same time mortgage money has become mare plentiful and inter- est rates more attractive to the bor- rower. Aided by U. S. Projects. Aided by public-financed projects and a spurt in apartment building in the New York metropolis area, the August total of space called for in residential contracts rose to 24,300,000 square feet, compared with only 4,800« | 000 in the same 1934 month and 29,- 500,000 in August, 1929 Ramifications of new home build- ing have been evident in many sec- tors. The upturn has been given much of the credit for gains of 29 per cent in shipments of vacuum | cleaners this year, 31 per cent in elec- tric refrigerators, 44 per cent in oil burners and nearly 40 per cent in operations of furniture factories. | Activity, real estate men say, has | been mainly in suburban areas, aided by a tendency toward decentralization | in some industries and by motor trans- portation. Real estate men look for another drive in the next session of Congress for adoption of a long-range housing program. Whether this would retard revival of private building or boost ac- tivity by supplementing it has been a topic of controversy. —_— SHARES ARE OFFERED. NEW YORK, October 27 (#).—Wil- merding & Co. announced the offer- ing today of 35,000 shares of con- | vertible cumulative preferred stock, $10 par value, of Edgar P. Lewis & | Sons, Inc., confectionery manufac- turers of Malden, Mass. The shares | are priced at $16.50 per share to yield {5.15 per cent. The new preferred is | convertible share for share in com- mon at any time and its dividend rate is 85 cents annually. Money for Construction Loans ane Loans oo Improved Properties 512% FIRST DEED OF TEUST ONLY | GEORGE 1. BORGER 643 Indiana Ave. N.W. Nat’l 0350 Complete Investment and Brokerage Service Members New York Stock Exchange Baltimore Stock Exchange Washington Stock Exchange New York Curb Exchange (Associate) Mackubin, Legg & Co. BANKERS Est. 1899 WOODWARD BLDG. 15th & H Sts. N.W. Baltimore New York First Mortgage Money For CONSTRUCTION LOANS and LOANS ON IMPROVED PROPERTY in the District of Columbis, Nearby Maryland and Virginia 512% Promp: Action B. F. SAUL CO. 925 15th Street Natl. 2100