Evening Star Newspaper, November 6, 1936, Page 18

FINANCIA THE EVENING STAR, WASHINGT D. C, FRIDAY, NOVEMBER FINANCIAL. By Private Wire mrm to The Star. 2: u--. 2:18 p.m. 3:180m. Prev. 1936 Stock and Low. Dividend Rate. Afld 00. High. Prev. 1036 Low. Stock and Net Prev. 10268 Stock and Net 5 p.m. BY MERGENTHALER = Year’s Net Hits $637,451, Compared With $36,160 in Previous Period. BY EDWARD C. STONE. Remarkable improvement in the earnings of the Mergenthaler Lino- type Co. is shown in the annual re- port for the fiscal year ended Sep- tember 30, which was received by Washington stockholders today. Net earnings were $637,451, as compared with only $36,160 for the preceding year, equivalent to $2.50 a share, against 36 cents a year ago. The net of $637,451 is after charging $375,000 to depreciation and reserving $65,000 for taxes. A new departure on the part of the company is the inclusion in this year's annual report of a consolidated bal- ence sheet of the British and Ger- man companies, as well as a state- ment of their respective earnings. ‘This balance sheet shows combined assets of the two foreign companies of more than $24,000,000, with $9,386,000 current assets and only $1,285,000 current liabilities. Mergen- thaler's ownership of these compan- ies is carried on its balance sheet under the item “Capital stock of as- sociate foreign companies” at the extremely conservative figure of only $1,462,000. Foreign Concerns Do Well. Net earnings of the British company for the year ended June 30, 1936, are shown to have been approximately §$555,000, while the net earnings of the German company were approxi- mately $275,000 or a total of more than $830,000 for the two foreign companies. Of this amount, only $217,000 is included in the earnings report of the American company. The American company long has fol- lowed the policy of including in its report only such cash dividends as | are received from its foreign subsid- jaries during the annual period. Had the Mergenthaler report given con- solidated earnings of the parent com=- pany and all subsidiaries, the total would have been increased by ap- proximately $600,000, or practically double the amount actually shown. Sounding a note of optimism for the future, the report says, “Predi- cated upon sales forecast, the outlook for our company for the year 1937 is promising. Both of the foreign companies are sanguine as to their prospects. General conditions abroad are in an unsettled state, and it is difficult to foretell how these enter- prises may be affected thereby, but each of them is possessed of ample financial resources to cope with fure ther untoward conditions should they arise. Larger Sales Volume. “During the past year our line of | machines was notably augmented and ‘mproved as to operation, finish and versatility. General development and research work, both with respect to machines, appurtenances and the cre- ation of fine type faces is being carried on intensively and without abate- ment. Further developments are un- der way and should be brought to & conclusion within the next fiscal year. ‘When introduced they are certain to increase sales volume, subject of course, to the buying power of the vrinting and publishing industry which we serve.” The company's balance sheet as of Beptember 30, 1936, reveals an excep- tionally strong financial position. Cur- rent assets are shown at $15,098,000, as compared with assets of $14.586,- 000 the preceding year; while current liabilities were approximately $200,000 as against $98.000 for the preceding year. Surplus at the close of the year was $0,883,000, an increase of ap- proximately $350,000. The company has no bank loans, no preferred stock or bonds. During the fiscal year the company paid $1 in dividends, 50 cents on May 15 and 50 cents on August 15. Another 50-cent dividend will be paid on November 15. The stock is now selling on the Washington Stock Ex- change around 54. Taliaferro Addresses Bankers. Sidney F. Taliaferro, vice president | and trust officer of the Riggs National Bank, in an address before the an- nual convention of the Florida Bank- ers’ Association at Tampa today pic< tured the astonishing growth of the trust business among the banks. He cited the last annual report of the controller of the currency, which showed that in June, 1935, there were 1,932 national banks having trust powers, and of this number 1,578 had active trust departments and were administrating 129,711 individual trusts with assets aggregating more than $9,250,000,000. In addition these ‘banks were administrating 16,801 cor- porate trusts and acting as trustees for outstanding note and bond issues amounting to over $11,600,000,000. Since 1926, he said, there had been an increase of 462 per cent in the numer of trusts being administered, of 903 per cent in the volume of in- dividual trust assets under adminis- tration and an increase of 371 per cent in the number and in the vol- ume of note and bond issues out- standing for which national banks were acting as trustees. The volume of trust business handled by other than national banks has also increased during the same nine-year period. He reported a splendid spirit of co- operation between the American Bankers' Association and Federal Government agencies having to do with banking matters, pointed out the most important problems affect- ing the trust business, reviewed Gov- ernment control measures and the extent of the examination of trust departments by Government officials. After pointing out the most vital points involved in trust operations, Mr. Taliaferro concluded by stating that & program for every trust department would seem to be: First, furnish the best possible quality of service; sec- ond, collect such fees as will make the business reasonably profitable, and third, build for volume of business, Peoples Drug Sales Mount. Sales of Peoples Drug Stores, Inc., in October jumped 14.5 per cent over the same month last year, the head office here reported today. Sales to- taled $1,932,481, against $1,687,511 in October, 1935. Business was better than in September, when sales were 10 per cent higher than & year ago. Sales for the first 10 months of this year totaled $16,969,070, compared with $15,483,272 in 1935, Prev. b, T4% 140 124 157 Al 1938 Stock and Low. _ Dividend Rat 42 Abr & Straus 59 Acme.Steel Co (13). 9% Adams Exp (a29¢). 17% Adams Millis(a1%) 2214 Address’graph( 1)_ 1% Advance Rumiey... 58 Alr Reduction (11). 2 Alr-Way Elec Appll 13 Alaska Jun (160¢).. 215 Al Corp (4) 12% Al of wS30w g 12% Alleg pf wS40w (d). 12% Alleg pf XW (d) acee 27 Alleg pr of (d) caeee 267 Al Steel (11) Chem (6. 23 Allfed M1l 6% Allled Store: 69 Allied Store 35% Allis-Chalm (1%).. 19% Alpha Port Cmt u) Amal Leather__ Amerada Corp (2)_. Am Ag Chm Del(3). ‘Am Bank Note (1) Am Brake Shoe 1.60 Am Brake S pf 6% - 137% 115% Am Can (14) . 169% 162% Am Can pf (7). b4% 92 6435 113% 14% 32% 32 5 9%, 428, 51% 19% 21% 8ty 281 45 100% 30 Am Car & Foundry. 57% Am Car & Fdry nf 31 Am Chain(al). 87% Am Chicle (14) 744 Am Colortype. 20% Am Comcl Alcohol._. 16% Am Crystal S(a50c) 3% Am Encaustic 612 Am & Foreign Pwr. 25 Am & For Pw $6 pf_ 29% Am & For Pw §7 pf. 12 Am & For Pw 2d pf. 13 Am Hawallan (1)__ 4% Am Hide & Leather. 311 Am Hide & L pf (3). 37 Am Home Pr (2.40). 24 Am Ice._ 163 Am Ice pf (2) 9% Am ln(ernltlonu_ 234 Am Locomott - 66 Am Locomotive pf_. 21 Am Mach&Fdy(t1). 10 Am Mch&Met a40c- 27 Am Metal — 715 Am Power & Light_ 36% Am Pwr&Lt pf (5). 43 Am Pwr&Lt pf (6)- 18% Am Radiator(alsc) Am Radiator pt (7). %, Am Roll M (11.20)_. Am Safety Rn (2). 18 Am Seating___ 25% Am Shipbldg (2) 56t Am Smelt&Ret (2). 152% 136's Am Sm&Ref pf (7). 7313 46% 135 36 63% 145 26% 57'2 Am Snuff (13) - -eu 20'a Am Steel Foundry .. 107% Am Steel Fy pf (7)- 24% Am Stores (2) - 48% Am Sugar (2) . .. 129 Am Sugar pf (7)... 20% Am Sumatra Tob t1 180% 149's Am Tel & Teleg (9). 102:3 104 87 Am Tobacco (5)__.. 8813 Am Tobacco B (5)_. 150 136 Am Tobacco pf (6)- 15% 27% 108% 11ty T0% 2 10 T 361 55% 861y 873 Am Type Founders.. 19's Am Wat Wksa20c. 92% Am Wat W 1st (6)-. T Am Woolen ______. 5% Am Woolen pf(33). % Am Writ Paper (d). 4's Am Writ Pap pf (d) 33 Am Zinc & Lead .. .. 24 Am Zinc & L pr pt 28 Anaconda Cop (1)_. 35 15% Ancher Cap (6Uc).. 97 Anchor Cap pf(6%) 9 Andes Copper. 3 AP W Paper. 37 Archer-Dal 50 110% 105% Armour Del pf (7). T 84 62% 15% 224 22 51% 881y A4t 319 538 35k 115 3 4% Armour (lllinois) - 663 Arm'r(111)pr pf (6) Anaconda Wire 12_x 33 32% 1 4% 6 107% 2 1% 9 41% 6 64% 160s 140 7 127% 2 164 13 3% 2 91% 27 65% 106 0 13% 1 288 1 11 108 9 1 2 19 47% Armstrong C (1%) x % Arnold Const (50¢c). 81a Artloom Corp. 12% Asso Dry Good: 21% Atlantic Coast 11 AtlGulf& W Ind__. 13% Atl Gulf&W Ind pf- 26% Atlantic Ref (1)__.. 109 Atlantic Ref pf (4). 48 Atlas Powder (12)_ 127 112 Atlas Powder pf (6) 304 54t 10t 118 344 25% 123 20 20% 114% 110 26 14 Atlas Tack (a75¢) -~ 26% Auburn Auto. _ 5% Austin Nichols 2913 Austin Nichols pf A 4% Aviation Corp (Del) 2l Baldwin Loco () 29'; Baldwin Loco pf(d) 2% Baldwin Loasd(d). 33% Baldw L pfasd(d)- 157 Baltimore & Ohfo__. 1 Baltimore & Oh pf_ 417 Bang & Aroos (2%) 1103 Bang & Aroos pf(7) Barber Co (a50¢) .. 21 13} Barker Brother: 82} Barker Bros pf_. 141 Barnsdall Ofl (80c) 16% Bayuk Cigars (15¢) Bayuk C 1st pf (7) _ 18 Beatrice Cream (1) 105 100 Beatrice pf ww (5). 99 16% 32% 25% 6513 T6% 19% 125% 53 20% 321 143 116 C: 90% 85 Beech-Nut P (13). 13% Belding-Hem (1) 21% Bendix Aviat'n (al) 20 Beneficial L (t134) 48 Best&Co (2%)--— 45% Beth Steel____ 16! Beth St1 6% pE(1) 107% Bethlehe Stl pf(7)_. 23 Bigelow-San (1) 14% Blaw-Knox (60¢c)__. 18% Bloomingdale(a65e, 16% BoeingrAtrpia: 41 Bohn Alum&Br 80% Bon Ami A (4) 39 Bon Ami (B) (2 25% Borden Co (1.60) 64 Borg-Warner (13).. 1% Botany Min A (d) ... 124 Bridgp't Brass t40c 43% Briggs Mfg (12) ___ 47% Briggs & Strat (3) . 41 Bristol Myers (12). 40% Bklyn-Man Tr (4).. 97% Bklyn-Man T pf (6) 435 BKlyn & Quee: 44% Bklyn Un Gas [ 8% Brunswick-Balke_.. 87 Bucyrus-Erie ... 9% Budd (EG) Mfg... 8% Budd Wheel . ... 20% Bullard Co (a60c)-. 11% Bulova Watch ____ 25 Burr Ad Mch(160c) 2% Bush Terminal (d). 8% Bush Term deb (d). 14% Bush T Bldgs pf(d) 2% Butte Copper&Zinc. 16% Byers (A M) oo 54% Byers (A M) pf__.. 22 Byron Jackson t1.. 30% California Pxg(1%) 30 Campbell Wy (t1).. 10% Canada Dry G A 10% Canadian Pacific. 37 Cannon Mills (a2).. 12% Cap Adm (A) ab0c. 45% Cap Adm pt A (3)__ 91 Car Clin&O stpd(5) 92 C: W I Com (7) 26 27% 2% 121 15 30s 133 54% Caterpillar Trac 13 x 14 21% Celanese C (a50c) - 19 Celotex Corp . 54 Celotex Corp pf $5-. 25% Cent Aguire (T1%) 6% Central Foundry Co. 35 Central RROINJ. 614 Century Rib Mills_.. 47% Cerro de Pasco (4)_ 41 11 2308 15 215 69 Ml Hg 142 2] 38 3 g.-“.flfifi.v‘.-fl.fldw §‘§§§§§‘!§“s£"§§!"§§s e - &‘-..F. 31% 4% 108 kid 41 63 139% 126 164 51% 90 63% 105% 1213 31 28% 4% 6% 39 47w 18 18 5 33% 49 3 19% 144 354 103 22% 11t 523 1l 1444 62% 46% 1354 264 5642 1393, 25 1794 991y 100ty 143 147 26% 106 8iy 58% 1 6l 4'x 36% 5274 84 20 103 29 3% 408 108% 5%, T9% 574 15% 35% % 4 62 1% 2 ™% 133 89 2T 29% 80% 31% % 4“ 9% 69% 14 2 26% 2! 106% 105% 105% — 9% 99 52 + % 19% +1% 16% — 5% 127 10% - % 3214 8% +1% 8% — % 40% - % 1% 16% — % 36% + % 1% - % 14 62 -1 1% + % 52 103 % = % 26% + % kel % ki % 5% — % 10% — % 2% —- % 1% - % 3% - % 3% 10% 18 -% 2 -% 5% — % %+ llD% 109 Th 20% 8% 15% 114 1% 4% 201 26% 30% 3 108 87% 24% 46 B 38% 46 691y 8215 ™ 44 37% 35% 9 153 58Y% 4015 43 34% 21 84 Cooca-Cola (2) 13 Colgate-P-P ( 39% Collins & Afk t3____ 28% Col Fuel & Ir (new) 213 Colo & Southern... 19% Colo & South 1st pf 16" Golo & South 2 pe.. 14 Columb G & Ead0o. 90% Col G & E pfA (6)... 31 Colum Pict vto (11) 42% Colum Ple ov pf 2% 91 Colum Carb vte(t4) Comel Credit (14) 100\( Comcl Credit pf ¢ 55 Comel Invst Tt (4. 97 Comel In T pt (4%) 14% Comel Solv (60c). .. 2% Comw & Southern.. 59% Comw & Sou pf (3). 7 Conde Nast Pub. 30% Congoleum-N(1. 16 Congress Cigar (a2) 15 ConnR&Lpf..... 8 ConsolCigar.. ... 2% Con C pr pf ww 634 65% Consol Cigar pf (7) 274 Consol Ed N Y t2__ 102 Consol Ed NY pr(5) 4% Consol Film 15% Consol Film pt ($2) 3% Consol Laundries... 11% Consol Ol (160c) .. 5% ConsolR R Cuba pf. % Consol Textile (). 2 Cons Coal (Dsl)vte. 6 12% Cons C (Del) pf vte 1208 15% Contajner Corp (t1) 6 10% Contl Baking (A).. 1% Contl Baking (B) 67% Contl Baking pf (8). 67% Cont’l Can (13) . 17% Contl Dia Fibre(2). 351 Contl Insur (11.20). 2t Contl Motors. 284 Cont Ol of Del(f1). 25% Contl Steel Corp(1) 55% Corn Ex BK&TT (3). 63% Corn Prod Ref (3).. 4 Coty Ino.____. 24 CraneCo.___ 35 Cream of Wh (2).. 15% Crosley Rad (a50e). 43% Crown C& 8 (2)___. 464 Crwn C&S of ww 2y 46 Crown Ck pf xw 2% T4 Crown Zelleb’k vic.. 28 Crucible Steel.—._. 1% Cuba Co._ 9 CubaRRp 6'4 Cuban-Am bunr... 6313 Cuban Am Sug pf-. 35! Cudahy Pkg (23%)_. 1674 Curtis Publishing.. 9915 Curtis Pub pf (7). 4 Curtiss Wright.___ 125 10% Curtiss Wright (A) 224 59 Cushmanspf (3%).” 10s 43Y% Cutler-Hammer t1. 3 7% Davega Stores 13te. 52 Deere & Co .. 27 Deere & Co pf(1. 194 Deisel-Wem-G (11) 36% Delaware & Hudson 147 Del Lack & Wes: 4% Den&Rio GW pf () 128 Detroit Edison (14) 42 Pevoe&Rey (A) (2) 30% Pltamond Mteh t1%. 37t Dia Match pf t1% .. 18% Dist Corp Seag Ltd. 19 Dixle Vortex (1%). 41'; Dome Mines (12)__. 7% Dominion Stores.__ 2l 50% Douglass Atrcraft.. 4 29 Dresser A (bl%). 254 83 179 39% 15% 4T% 114 7 49% 34 105 55% 45 32% 118 4T 1118 38% 27 43y 9T, 35% 75 4 31la Fuller Co 2d of. 13 Dresser Mfg 473 Dunhill Interna 133 Du Pontde N t3. 513 Eastern Roll Mill. 156 Eastman Kod (15). 2815 Eaton Mfg (2).. 5% Eitington-Schild_ 30% Elec Auto Lite (a2) 110% Elec Auto L pt (7). 10 Elec Boat (a60c) . 5% Elec&Mus In(b24c) 6% Elec Pw & Lt. 1% Elk Horn C pf (4) 23y El Paso Nat Gas 53'2 Endicott-John (3) .. 5% Equit Office Ba20c. 11 ErieR R ©) 234 Evans Products (1) 4% Exchange Buffe 31% Fajardo Sugar (2)_. 18% Federal Lt & Trac_. 37 Fed Min & Smelter_ 697 Fed Min & Smelt pf. 7% Federal Mot Pr 40c. 3 Fed Screw Works__ 215 Fed Water Swc (A)_ 20% Fed'd Dept St +1.40. Federated Dep S pf 38 F1d Phoe F | (11.20) 247 Firestone T& R (2) 100% Firestone pf A (6)_ 40 First Nat Strs (2%3) 30% Flintkote Co (1)___. 2515 Florsheim(A) (1) 3% Follansbee Bros (d) 32 Food Machine (1).. 108 Food Mach pf(4%). 241 Fost Wheeler new_ 95% Foster-Wheeler pf 30% Fourth Nat 1a1.45_ 63 Frank Sim pf (37)_ 2314 Freeport-Texas (1) 47% Fuller Co pr pt 404 107 ]06‘-. 454 44y 34 33% 105 1041 - 3% Gabriel Co (A)eeee 11% Gamewell Co-.. 813 Gen Am Investors.. 42% Gen Am Trans 1% _. 10% Gen Baking (160c) . 70% Gen Cable pf-aaeeee 15 51% Gen Cigar (14) —co. 150 51 43% 4% T0% 123 5 122% 10% 53% 63 39 149% 36% 22 L 1% IK 1916 mu 10% 11% 22% 120 lM% 11\i lli us 21% m 44% 116 33% 140 Gen Cigar pf (7)——- 34% Gen Electric (1) ... 33% Gen Foods (1.80)... 7 Gen Gas & Elec (A) 14 Gen G&E 6%cvpfA 19% Gen GEE 8% pf A__ §8 Gen Mills (3)__. 116 Gen Mills pf (6) .. 537% Gen Motors (12)._. 118 Gen Motors pf (5).. 5% Gen Outdoors Adv.. 18% Gen Outdoor Adv A. 38 Gen Print Inka23. 3% Gen Pub Service. ... 32} Gen Ry Signal (1).. 2 Gen Realty & Util_. 26% Gen Real&U pf ww. 33% Gen Refrac (a1%). 32% Gen Sti Casting pf 17 Gen Tha Eq (21.10). 30% Gen Time Inv (1)__. 13% Gillette Saf Ras (1) 0 Gillette SR pf (8)_ 6% Gimbel Bros. . 84 Gimbel Bros D! (I). 39% GliddenCo (2) ... 52% Glidden cv pf(3% ). 3% Gobel (Adolf).. ... 6% Goebel Brew (t20¢). 13% Goodrich (BF).._. 74 G'drich(BF)pf n(5) 21% Goodyear T & R._.. 87 Goodyear $7 pf (4). 8% Gotham Silk Hose.. '2 Graham-Paige _.__ 1% Granby (2d stpd) .. 3% Grand Union ctfs. 16 Grand Un pf (31%) 24% Granite City 8t (1) 28% Grant (W T) (1.40) 32% Grt Northevn pf.__. 16 Grt North'n Ore (1) 31 Grt West Sug (3.40) 136 Grt West Sug pf(7). QGreen (H L)Co(t1). 15% Greyhound (new) 1% unnnnlno Sugar. tanamo Sug pf 1 “ Gult Koblh &N.... 28% Gulf States Steel..... 105 Gulf Sta Stl 1st $21. 7% Gulf 8 S1rts Nov 25 6 Hall(WF)Printing. 14 Hamilton Wateh. . 109 Hamilton W pf $12_ 100 Hanna (M A) pf (5) 30% Harbison Walk(3).. 12 Hat Corp of Am (A) 104% HlIC prww (63).. 4% Hayes Body - 102 BAI.I Atlas GI (16). 12% Hecker Prod (60c) .. 117 Helme (G H) (15)-. m«. 2% ll 11% 21 30 50% 15 1T% 17% 9 14w 1128 32 40% 13% 128 38% 38% + 145 145 +1 50s 116 116 116 108 104% 104% 104% +1% FEEEPIEEREL - & +i4+401014 +I+||+|+|| PEEFEE L & L+ + ++1 FPEEEPEES +4+1441+04+4 S+ LI+ 1++) FSEE *F - sees Fred 1414+ F FEE 5 *#i#it*t FEFEF 2944 — 48% + 42% — 21 36% — % 1% + 2% + % 24 -1 13 50% 50% — % % 128% 1% 21 -y - % 50 + % 176 + % 50s 108° 107% 108 +1 11 6% 6% 6% — % 1 103% 103% 103% —1% 13% — % 128 -4 38% + % 20s 128% 128% 128Y% — % ot 80% Holland Furn (al1)_. 32 44% 43 ws Holland Fura pt(5). Hollander (1 Houd-Hersh (A)3%. 224 Houd-Her (B) 11%.- 2 112% 111% 111% Dividend Rate. moo High. Low. Close. Chge. | Gish. Low. 4 125% 126 126 0% 15 18% 17! 18 40% 25% Indus Rayon (1. 147 108 lntlrloll-filnfl(fl) x u7 16% Th 18% 185% 160 95% 160 148% Int Hi 5% 8 65% Sales— Dividend Rate. Add o: l_’l:h. 3% Hudson & Manhat.. 133% Hudson Motor Car. 1 Hupp Motors.... 18% Illinois Central.. 30 Illinota Cent pf (A). 4% Indian Refining. 13% 885 Inland Steel (3)___. 6% Inspiration Copper. 5 InsSh Mdcfsa20c_ 11% Interboro Rap T(d) 21 Intercont] Rubber.. 9% Interlake Iron 2% Int Agricultural.... 22% [nt Agricul prpf_. Int Bus Mach (16)_. 56% Int Harvester 2% . ester pf(7) 2% int Hydro Elec (A) - 4% Int Mercantile Mar. 43% Int Nickel (a1.30) _ 59 16 15% 5! 5 132 125% Int Nick(Can)pf(7) 15 6% 3% 0% 44 112 107 Int 60% 3% Int Paper & Pw (A) 2% Int Paper & Pw (B) 1% Int Paper & Pw (C) 20% Int Paper {z Pw pf_. 37 Int Print Ink (2).. Tint Ink pe(6 19% Int Rwy Cent A pt.. 70s 23 IntSalt (1%)eca... 47 IntShoe (12) 15 IntSil 50 Int Stlver pf. 11% Int Tel & Te 104 Interstate D S a50c. 15 Intertype Corp (1) 24% Island Creek (2) 5815 Jewel Tea (14) 3914 88 Johns-Manville 12 126% 121% Johna-Manv ptf (7) _ 125 » 30 Kinney (G R) p! 110% 483 111 107 Loos: 26145 151 51t 30% 102% 35 42 130%; 12715 MacAnd & F pf (6)- 36 21t 24 208 T5% Jon & L 7% pf 11%. 4208 mazoo § (1) 2 s City Southern 1 19% Kans City South pf_ 2 17 Kaufman Dep 8 (1) 6 ser J&Co(a1%) 11 11 11 33 40s 100 12 4 1308 20% Kresge (S8) (t1).. 36 101 Kresge (8 S)pf(7). 10s 35% Kress(SH&Co(t1) - 1 19% Kroger G&B(11.60). 31 20'% Laclede Gas (St L) 30s 32 Lacled St L pt :0. 15% Lambert Co (2) 12 Lee Rub&Tire(5 2 15% Lehigh Port Cmt t1. 44 94); Lehigh Por C pf (4) 60s 2 Lehigh Valley Coal 813 Lehigh 89 Lehman Corp (t3)_ 12 Lehn & Tinkall% _. 87'% Lerner Stores (12). 7 Libby McNeill & L_ 47% Libby-Ow Gl (Aol %) 1.60) 14% Kelvinator (t50c) .. 87 Kendall pf A (16) __ 28Y% Kennecott C (1.20). 17% Keystone S&W (2). 3% Kinney (G R) Co... of (7). 19 Lily Tulip Cup(13%) 25% Lima Locomotiv: 3214 duiquid Carb(1. Ml)-_ 43 Loew’s Inc (12) 2 LoftInc . 35'5 Lone Star Cmt (2)_. 16 3% Long Bell Lum (A). 10 38% Loose-Wiles (2) 1 Wiles pt l&) 208 21% Lorillard (P)(1.20) 20 142 Loriliard (P) p£(7) 20s 13 LaOfl Ref pt (d). 308 20 Louisv GEEpfA 1% 57! Lou & Nash (843%). 224 Ludlum Steel (1) __ 33 MacAnd & For (2)_. 3 5 13 5 208 29 McCall Corp (2)--. 2 124 McCrory Stores.___. McGraw Elec Co____ 16 McGraw Hill Pub 384% Mclntyre Porcu (2) 85 McKeesp't T P (14) 8% McKesson & Rob_. 37% McKess&Rob pf(3) 11'3 McLellan Strs a20c. 27% Mack Truck (1) 404 Macy (R H) Co (2). 85, Madison Sq G 16 34'; Magma Copper (2)_ 1% Manati Sugar (d) . 74 Manat! Sug pf (d) 14% Man El md gtd (d). 17% Manhat Shirt (1) . 24 Maracaibo Ol Exo_ 815 Marine M1dld (40c) 62 Market St Ry pf 41 Marlin-Rock (t 11t% Marshall Field & Co 613 Martin Parry . 2715 Mathieson Alk 1% 43% May Dept Stra (2)— 135 Maytag Co. 12% Mead Corp.- 974 Mead Corp pf (6)- 55% Melville Shoe (5). s’. MengeiCo_ __ el Co pf 40"- Mesta Mach (a3 5% Miami Copper 173 Mid-Cont Petal.15. 21% Mid Stl Prod (a2) 7 2 1 48 10s 7 32 2 12 14 13110 Mid Stl 18t pf (8) 164 30 28% 112 109 18 72 49% 534 95 6% 17% 10% N Y Dock pf. 150 2% 109% 9 310% 10% 35% 23% North AmCo (1)... 54% 24% Oliver Farm Equip. 65 Minn-Hon Ros 11% 106% Minn-Hon R pf (6) 63 Minn Moline Pwr 1808 18 141 MoKan & Texpf A. 19 2% Missours Pacific(d) 37 Mo Pacific pf (d) 19% Mohawk Carpet ( 79 Monsanto Chem(t1) 35% Montg’y Ward 80c.. 3 Mother Lode ... 28% Motor Prod (12)_——. 154 Motor Wheel (1) + 31 11% Mullins Mfg (B)... 24 Mullins Mfg pf (7). lool Munsingwear a23% _ Myers (F E) (12)__ Nash Motors (1) 20% NashvChat &St L. 140s 121 Natl Acme (a50c) - 6 914 Nat Aviation 9 28% Nat Biscuit (1.60)_ 153 Nat Biscuit pf (7). 21% Nat Cash Reg (60c) 89 21 Nat Dairy P (1.20) 44 107% Nat Dairy P pf B(7) 30s 10 Nat Dept Store: 19 25% Nat Distillers (2)_. 28 Nat En & Stpg (2) 26% Nat Lead (150c. 9% Nat Pwr & Lt (60¢). % Nat Ry Mex 1st pf_. % Nat Ry Mex 2d pf.. 57% Nat Steel (13%) .. 19% Nat Supply Co.. 74% Nat Supply Co pf_. T Nat Tea (60¢c) ... 10% Natomas (180¢; 41 Newberry (JJ) 2.40 1 104% Newb'ry (J J)p£(5). 10s 9 Newport Industries 86 32% N Y Airbrake (al).. 1 2% NYCentralRR. ... 66 17% N ¥ Chicago& StL. 4 36% NYChi&StLpf._ 5 3% N Y DOCK- - e IWI 308 75) 80- 1!3 l\i 4 10% 1 Mi l K mnoou XMK ll)l 104 1306 25 8% 8% 46 32% 31% 2 102% 102 54 29% 28% 3% % 48% 119 NY & Harlem Investors (a. H & H (d) & Hpt (d)... i 28 H FE ZZZZZZ22 g g 22 pbutldin; eam D (6)_. team 1st (7). no Norfolk & W (18)__ 6% North Am Aviation. .*.2-...;-.- “ (] 98 North Am Ed pf(6). 23% Northern Pacifle... 2 Norwalk Tire&Rub. 12% Ohto Ofl (506) .. 25% 17 Omnibus Corp vte.. m 121 Otis Stee. 116% 164 19 12% 28% 22% 41 8 Oppenheim Collins.. 24% Otis Elevator (60c). 70 Otis Steel pr bt 128 Owens-IL Gl (a6)_. 13 6153 152% 18% 18% 10% 104 23% 23 : e | i { ! ??E. i 1z ] :5555?;;; g 40% 129 129 2122 122 122 +1% 103% 104 306 306 69% — % 10% W -% ‘ + W 21% - % 2% - % 2515 — % 4T% -2 18% - % 40% + % -1% 15% — % b 474% -1% 25% 29 45 181 16% 42% 16915 34 17% 18% 116 21% 60 9% 754 2615 104% 163 21% 454 497 41 62t 2% 584 45 0 EFE 11141+ ++001 1410400144+ EREFCEESEFEIIESE I 32 A 157TW +1% 30% +1 25% + % 108% + % IWK +1% -2 8% — % 2% - % 102 28% Low. Close. Chge. | High. 69% 1115 4% 17% 247 9% 3%, 124 228, 2214 671, 533 122% 49% 13 114 65% 24% 118 133% 19% 112 114'2 39% 3% 6% 15 174 525 1013, 4% 1% Panhandle Pro & R. 18% Panhandle P&R pf. 67 Paraffine Co (12)... 7% Paramount Pict... 59 Paramount 1st pf_. 8% Paramount P 2d pf. 2% Park Utah_ 40% Parke Davis (21%) 23 Parker Rust P {1%. 4% Parmelee Transp't.. 69 Penney(JC) (a2%). 4% Penn Dixie Cement. DfA. ctf: 28% Penn Rallroad 30 Peoples Drug (11).. 38 Peoples Gl Chi, 25% Pere 56 Per lllru 16 Pet Milk (1 12% Pet C'p of Am 10% Pfeiffer Brow (1.20) 25% Phelps Dodge a1% - 45% Phila Co 6% pt (3). 3% Phila Rap Tr (d)-.. 8% Phila Rap Tr pt (d) 1% Phila & Read C& 1. 66 Phillip Morris (3)_. 384 Phillips Pet (a215) 5% Phoenix Hosfery __ 70 Phoenix H pf (3%). 8 Plerce Ofl pf__ 1% Plerce Petroleum__ 29% Plllsbury Fl (1.60). T Pitts Coal . __ T3 Pitts Scr&B a12 ‘A e 49 Pitts Steel pt - 14 Pitts Term Coal pf_ 2% Pitts United Corp... 5844 Pitts United C pf._. 21 Pitts& W Va._____ 11% Plymouth Ofl (1) 12 Poor&Co (B)..._.. 4% Porto R Am Tob A _. 1% Porto R Am Tob B_. 6% Postal Tel&C pf (d) 17! Pressed Steel Car__ 17% Press Stl C 1st pf ~ 57% Press St Car 2d pf n 40% Proctor & Gam t1% 117 Proc & Gam pf (5).. 39 PubSve NJ (2.40)_ 1031 Pub Sve N J pf (5). 112 Pub Sve E&G pf(5). 367 Pullman Ine (13%).. 16 Pure O11 91% Pure Ofl 6% pf. 103 Pure O118% pt. 9% Purity Bakerles 400 16's Quaker Sta Ref 80c. 9% Radio Corp . 6813 Radio Corp pf A 8% 5 Radio-Keith-Or (d) 11 RR SecIll Cent.__. 287 Raybestos-M (1%). 35'3 Reading (2).______ 97 Real Silk Hoslery._. 65's Real Silk Hos pt. 1% Reis (Robt) 12% Rels (Robt) 1s 12a Reliable Strsas0c_. 17!; Rem Rand (160¢)._._ 4's Reo Motor Car 1674 Republic Steel 77 Republic Steel pf _. 78! Rep Stl pr pf A (6). Revere Copper e 50 Reynolds Tob B (3) 1915 Ritter Dental a25c.. 32 Roan AnteCal.12_. 74% Ruberoid Co (1) 5% Rutland R R pf_. 27 Safeway Stores (2) 108 Safeway Strs pf (6) 110% Safeway Strs pt (7) 22 St Josepr L4 (80¢c) 1tz 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) 971 Schenley D pf (5% ) 1% Schulte R Strs (d) - 7% Schulte R S pf (d). 5313 Scott Paper (2)_.__ 7 Seaboard Afr L (d) 2 Seaboard A L pf(d) 303 Seaboard Ofl (1) 31 Seagrave Corp. . 593 Sears Roebuck (12) 2% Second Natl Invest 611 Sec Nat Inv pf $2.90 15% Servel. Inc (60c) 20% Sharon Steel Hoop. 4% Sharpe & Dohme __ 43« Sharp & D pf (3%) 11'x Shattuck F G (50¢c) 30' Sheaffer Pen (2)._ 14% Shell Unton O11 211014 Shell Un Ofl pf 5% . 83, Silver King (60c) 19% Simmons Co (a1%) 3!; Simms Petrol 1915 Skelly Of) 54 Sloss-ShefMeld St1 657 Sloss-Sh Stpfas¥ 40% Smith (A O) 21 Snider Packing 1215 Socony Vae Oila70c 37 So Am G & P(a20c) 26 South Port S (12) 25 South Cal Ed (1%). 2315 Southern Pacific. 12% Southern Railway. 19~ Southern Ry pf_ So Ry M&O ctfs [0} 6% Spalding (AG)____ 5% Sparks- Withington 673 Spear & Co ____ 29% Spencer Kell ( 60). 157% Sperry C'p vte (al). 13% Spicer Mfg. .. .. 44 Spicer Mfg pf (3)_. 63 Splegel-May-S (3)_ 99 Splegel-M-S pf 613 _ 21% Square D(B)aé2%c 8% 14% Stand Brands(180c)x 125 M 106!/: 24% 2% 16% 27% 17% 12 8% 11% 34 42% 16% 9 8% sax mu ufili 1207 Stand Brands pf(7) 9% Stand Com Tobacco 5% Stand Gas & El (). 91 Stand G&E $4 of (d) 24% Stand G&E $6 pf(d) 26% Stand G&E $7 ot (d) 2 Stand Inv Corp_. - 85 Stand O of Cal (1). 32% Stand Ofl of Mnd t1._ 51% Stand Oflof N J (11 24% Starrett(L 8)11.40. 65 Sterling Prod t3.80 16% Stew-Warner t50c. 14% Stone & Webster .. 914 Studebaker Corp... 72 Sun Ofl (11) 27 Superheater (80c) 3 Superior Ol 9% Superior Steel 23 Sutherlnd Pap t1. 20% Swift & Co (1) - 28% Swift Intl Ltd (2) 15 Symgton-Gould ww_ 6% Telautograph (60c) 5% Tennessee Corp 287% Texas Corp'n (1) 33 Texas Gulf Sul (2)_ 28 Texas&PacRR._. T4 Tex Pac C & O a2be. 9 Tex Pac Land Trust 33% Thatcher (1) __. . 59 Thatcher pt (3. lfl).. 8% The Fair.__. 8% Thermoid Co.. 3% Third Avenue . 23% Third Nat Inval.l§ 8% Thomp'n(JR)(50¢c). 24% Thomp'n Prod aé0c. 4% Thompson Starrett. 26 Thompson Star pf_. 14% Tide W Ass0 O 60c.. 100% Tide A Opf(6) 121 Timken Detroit(t1) 56 Timken Roll B (12) 11 Transamerica t40c. 147 Trans & Westn Alr. 10% Transue &W (1600) - % Tri-Cont Corp a2bec.. 4% Truax-Tra C(a50c). 2215 20th Cent Fox ( 81% 20th Cent F'pf 1% 8% TwinCity RT..o. mmaun’rvf_.. ’M!i mwlm-fl-hcr @). 1108 1305 102 :+| 1 4|: “resessess P AR [ 2 | I:__tl PEFFETEETEE TFEFE P ST REFEEPEPESEE & g N e a ATl ++ H'.'.-'”*“ ++ 2% 0% 1014 59 17% 20s 127 3 20 6 " % % % | May ' 7 FEEEFES T 24% + T0% + 38% Union Bag&Pap (3)x £ 'll“ Union Carb&C 3.80 20% Union Ol of Cal (1) 108% Union Pacific (6) . 90% Unton Pacific pf (4) 22% Union Tank C 1.20... 20% United Alreraft.. 13 ~ United Air Line vte. *16% United Am Bosch.. 24% United Biso (1.60).. 68 United Carbon (3).. Unti "fifl Fast (2)- cufp SURGE FORWARD Selling of Steels and Other Recent Leaders Curbs Market Rally. Stock Averages 15 15 60 . Rails. Util. Stks. —10Unc. —. 416 523 417 523 421 527 252 431 435 53.7 302 434 763 31.2 44.7 1935 low. 495 185 21.6 1932 low. 175 87 239 1929 high...146.9 153.9 184.3 1577 1927 1oW.... 51.6 95.3 618 618 98 l 98.2 94.1 3.7 98.2 134 Month ago- Year ago__. 1936 high. 1936 low. 1935 high... (Compiled by the Associated Press.) BY VICTOR EUBANK, Associatea Press Financial Writer. NEW YORK, November 6—While selected stock market issues forged into new high territory for the re- covery today selling of the steels and other recent leaders effectively put the brakes on the post-election rally. See-saw trading trends, however, slowed the trading pact after the ticker tape was behind for almost an hour and a half in the morning Transfers were around 2,700,000 shares. i Although progressive economic de- velopments helped to buoy sentiment. brokers said some of their customers were not loath to cash in at least part of their profits which had piled up in past weeks. Phe downward tilt in the steels ac- companied announcements of wage increases by important companies in this industry. Columbia Steel, & sub- sidiary of United States Steel, started the ball rolling and was followed soon by Bethlehem and Carnegie-Illinois. Officials of Columbia said the boost was granted in anticipation of a jump in the cost of living. A less-than-seasonal decline in last week's freight loadings failed to stim- ulate the rails, although the majority were not too depressed. Standard Oil of ew Jersey shares suffered a setback notwithstanding the voting of a 75-cent extra dividend by the directors. There had been talk of a larger distribution. CHICAGO GRAIN BY tle Associated Press. CHICAGO, November 6.—Climbing more than 2 cents late today, corn reached above $1 a bushel for Decem- ber delivery in Chicago. This is the highest price December corn contracts have touched since August 19. The fact that the 1936 corn crop in the United States is ap- proximately a billion bushels less than a normal yield was cited as a stimu- lating influence underlying the mar- ket situation. Corn closed buoyant, 17,-2%, cents above yesterday'’s finish, December, 1.00-1.00%; ' 14-3 down; 1.14%-7g; May, 1.13-1.13%; oats, unchanged to 1, higher, and provisions unchanged to 7 cents up. DpoVHEAT— Open. | My =73} Y e d . CORN— Dec High. Low. 3y 1143, 0%, 1001, R O May July. new_ July. old 1425 1430 Chl(‘l‘o Cash erkzt Cash wheat, No. 1, red, 1.19'3; No. 1 hard, 1.22',a23; No. 1 mixed, 1.21%; No. 2 mixed, 1.18; corn, No. 4 mixed, 1.02; No. 5 mixed, 1.02%, mainly white; No. 3 yellow, old, 112!2; new, 104; No. 4 yellow, 1.02a02';; No. § yellow, 1.00a01, mainly white: No. 4 white, 1.03a04; No. 5 white, 1.02a03%. outside weight; sample grade, 91a99, the latter white; oats, No. 1 white, 4617, No. 2 white, 46, sample grade, 43'4; no rye; soy beans, No, 1 yellow, 126%a'2; No. 2 yellow, 1.26; No. 3 yellow, 1.25a25%; No. 4 yellow, 1.24%{ barley, No. 3 malting. 1.32; feed, 65a85, nom.; malting, 1.00a44, nom.; timothy seed, 5.65a85 hundredweight; new, 5.35a60 hundredweight; clover seed, 22.00a29.00 hundredweight. Liverpool Wheat Prices. LIVERPOOL. November 6 (.—Wheat futures closed easy Prev, Low. Close. High 1107 1107 1117 December 1.16 1083 1093 1.10% March 1 110 | M Exchiange. 4.87° —_— NEW YORK COTTON BY the Associated Press. NEW YORK, November 6—Pre- bureau liquidation was partly counter- balanced by trade buying in ecotton today. Offerings centered in forward positions while nearbys held relatively steady on mill fixations. March eased from 1185 to 1177 and was quoted at 11.80 at the be- ginning of the last hour when prices were generally 3 to 9 points net lower. ly steady. 4-0 lower. Putures closed blrey s l‘n’. £ A Bleachable cottonseed oil futures closed steady; December, 9:05b; Janu- ary, 10.05b; March, 10.06; May, 10.22, Sales, 32 contracts, including ¢ switches. b—Bid. New Orleans Prices. LEANS, November 6 (P.—Cote : G“fi\-"l‘:_be n‘cnblel came in worse thi due an & q;hag oft dl little ll!"lll'i?(.“ll thi = hu{ll\:l :ntll mlon;,h-fl dip Quotations. mbvr 0 ). -Ccnnn. Agumi Anurte