Evening Star Newspaper, December 5, 1936, Page 12

FINANCIAL. SPECIALTIES RISE A—12 FINANCIAL. THE EVENING STAR, WASHINGTON, D. C, SATURDAY, DECEMBER 5, 1936. TRADE LOANS UP TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE Prev 1059 Prev. 1936 TUsh. Low. Ney flvldnlllh- AMDO.M l’l" Olose. Onge. ")"ldflllhu flvtdlndlllc moo High. Low. Olose. filfi AMW. High. Low. Close. ”. m 7 % | 118% “'A Sloss-Sheft pf (7). 1008 ll: Gish low. 101% 52 Deere&Co. .- % 6% — Den&Rio GW pf (d) 94 +1 6% — % g ‘.’:.’_ ™ 104 114 ~3% 72 INFIFTH DISTRIC % . Richmond Reserve Discloses Substantial Increases During Month. BY EDWARD C. STONE. According to the Richmond Reserve Bank's monthly review reaching ‘Washington today, 41 reporting banks in 12 leading cities in the fifth dis- trict showed good increases in com- mercial and industrial loans in their latest reports. Between October 14 and November 11, both this year, loans increased by $3,781,000, although loans on se- eurities declined by $28,000 during the month. However, all other loans, which are largely commercial or in- dustrial at this season, rose by $3,- 809,000 during the four weeks. The reporting banks reduced their in- vestments in securities by $1,147,000 between October 14 and November 11, while their aggregate balance at the Federal Reserve Bank rose by $3,212,000. Cash in vaults declined by $484,000 during the last month. Demand deposits in the 41 institutions rose by $16,670,000 since the middle of October, but there was a. slight decline of $588,000 in time deposits. All figures in the statement are higher for the 1936 date than for the corresponding date last year. Loans and discounts rose by $22,791,000 dur- ing the year, loans on securities in- creasing by $2,338,000 and all other loans rising by $20,453,000. Invest- ment in stocks and bonds rose by $68,042,000 and the reporting banks added $29,054,000 to their reserve balances at the Federal Reserve Bank during the period under review. Bank Deposits Work Higher. Time deposits in 41 reporting mem- ber banks in the fifth district and aggregate deposits in 11 mutual sav- ings banks in Baltimore totaled $409,750,190 at the end of October, 1936, a higher figure than either $408,669,297 reported at the end of September this year or $395,163,714 at the end of October, 1935. The mutual eavings banks reported a higher total of deposits on October 31, 1936, than on either of the earlier dates, and time deposits in the 41 member banks also increased during the year, but decreased slightly during the last month. The report, out today, also shows eommercial failures in the district were 29 per cent fewer in October than in October, 1935, but liabilities involved were 43 per cent higher than a year ago. Employment conditions continued to improve and are now the best in several years, the report eadds. Demand for cotton textile products has broadened and spot cotton prices have moved upward. Tobacco will not yield as much money this year as last, the drop in production being Jarger than the increase in price. Building permits in fifth district cities provided for more work than a year ago and contracts totaled nearly as much. Retail trade was 17 per cent ahead of October, 1935, and whole- sale trade was also better. Nearly all crop yields were higher than earlier estimates, the summary concludes. Bankers Plan More Clinics. Robert V. Fleming's work for the American Bankers’ Association last year is to be revitalized. Washington bankers have just been notified from headquarters that three discussion forum conferences will be held early in 1937 by the A. B. A. The meeting nearest the Capital will take place fn Pittsburgh, January 28 and 29. Portland, Oreg., will be host to the second on February 25 and 26, and the third is scheduled for Atlanta, Ga., March 25-26. The purpose of the gathering is to provide opportunity for an exchange of ideas on current banking methods and practices. Similar forums were inaugurated last year under President Fleming's ad- ministration and proved highly bene- ficial. The Washington banker urged their continuance and President Tom K. Smith has taken up the idea. Adaptation of banking to the chang- ing economic environment, banking studies and banking research are three big goals at which the association’s leader is aiming this year. He defines research as “the effort to find out what we should do when we cannot keep on doing what we have done before.” Speakers at the conferences will explain the research work of the mssociation particularly with regard to Federal lending agencies, postal savings and bank chartering. Lending and investment problems, budgets, public relations, operating expense control and income from banking services are among the bank manage- ment problems due for attention, the snnouncement states. Insurance Ruling Received. Carl Smith Dow, Washington gen- eral agent of the Pacific Mutual Life Insurance Co. of California, has re- ceived the full text of the judge’s ruling, which as reported by the . Associated Press, was favorable to the company. The company has done business in Washington and nearby Btates for a long time. Judge H. M. Willis expressed the opinion that the “rehabilitation plan must succeed.” The public wants the plan to succeed, the policyholders feel the same way about it. “Very few policyholders will suffer even tem- porarily,” he said, adding that “the company is not insolvent in the com- mercial sense of the word.” Judge Willis stated that the com- pany is 68 years old, has $600,000,000 in insurance, 300,000 policyholders, 8,800 stockholders, and 60 or 70 general agents with organized sales forces. Tom K. Smith, head of the A. B. A., and Jesse H. Jones, head of the R. F. C., have both issued words of caution this week. The banker hopes there will not be another boom. Chairman Jones does not believe that any “run- away stock market” exists at present, and says that prices are not “artifi- eial” He warned that the outpouring of dividends caused by the undistrib- uted earnings tax was not an index of & company’s earning power. That varies from year to year and has to be watched. Peter A. Drury, founder and presi- dent of the former Merchants Bank & ‘Trust Co., which consolidated with the Federal-American National Bank, is seen frequently in the financial dis- Grict. He has moved in town for the 39% 126% 73 27 Allegprof (d). . 26% Alleg Steel (a1.40. 23 Allled Mills (ab0c). 6% Allled Stores - 35% Allis-Chalm (t134). 19% Alpha Port C(a1%). 4 Amal Leather 32 Amal Leather pf__. *75 Amerada Corp (3). 656 Am Bnk Note ptf (3) 20% Am Comcl Al (IBOC) 16% Am Crystal 8(ab0c) 3% Am Encaustic..... 6% Am & Foreign Pwr. 29% Am & For Pw §7 pf. 12 Am & For Pw 2da pf. 13 Am Hawaiian (1) 4% Am Hide & Leath 37 Am Home P (12.40). 2% Am lce 9% Am Intrnat'l (a40c) 23% Am Locomotive 21 Am Mach&Fdv(t1) 10 Am Mach & Met 60c. 27 Am Metai 7% Am Power & Ulht 36% Am Pwr&Lt of (5) 18% Am Radiator(¥60c) 23% Am Roll M (11.20)_ 25% Am Shipbldg (2) 56% Am Smelt&Ref (3)_ 57% Am Snuft (13) 20% Am Steel Fdry (al) 190% 149'% Am Tel & Teleg (9) 104 1745 27% 11% 0% 2 10 T 56% 87 26% K ™ 88/ Am Tobacco B (5)- 8% Am Type Founders. 19% Am Wat Wksadlo_. 7% Am Woolen 52% Am Woolen pf (34). % Am Writ Paper (d) 4% Am Writ Pap ot (d) 315 Am Zinc & Lead 28 Anaconda Cop (11). 36 Anaconda Wire 12_. 16% Anchor Cap (60¢) - 3 APW Paper _ 4% Armour (1llinois) 47% Armstrong C'k 11%. T4 Arnold Const (6%¢). 814 Artloom Corp 12% Asso Dry Good: 59 Atch To& S8 90% Atch To&S F 21% Atl CoastLine(al)_. 11 AUGuUIf& W tnd . 18% AtIG & W I pf(a3). 26% Atlantic Refin (11). 26% Auburn Auto_ . 4% Aviation Corp (Del) 2% Baldwin Loco (a) 29% Baldwin Loco pf(d) 2% Baldwin Lo asd(d) 16% Baltimore & Ohto 21 Baltimore & Oh pf % Ban & Ar rts Dec 28 21 Barber Co (able) .. 13% Barker Brothers 14% Barnadall O1) (80¢) 16% Bayuk Cigars t76c._ 110 Bayuk C 1st pf (7) 18 Beatrice Cream (1) 85 Beech-Nut Pkg(t4) 13% Belming Hem (1) 21% Bendix Aviat(al3) 20 Beneficiai 1. 1t13) 48 Best&Co (2%)._—- 45% Beth Steel ___. 164 Betb Stl 6% pf(1)—. 23 Bigelow-San (t1)_. 18% Black &Decker 1% Black&D rts Dec 23. 14% Blaw-Knox (a80c) - 77% Blumenthal pf (7) - 16% Boeing- Airplane 41 Bohn Alum&Br (3) 80% Bon Ami (A) (a6) 25% Boraen Co (1 60) 64 Borg-Warner (4)_. 1% Botany Min A (d) - 12% Bridgp’t Brass t40e 43% Briggs Mfg (12) 40% Bklyn-Man Tr (4)_ 97% Bklyn-Man T pf (6. 414 Bklyn & Queens 44 Bklyn Un Gas (3) .. 45 Brown Shoe (3) ... 814 Brunawick-Balke.__. 8% Bucyrus-Erie z 914 Budd (E G) Mfz 8% Budd Wheel (a20c). 20% Builard Co (a1%) .. 11% Bulova Watch 25 Burr Ad Mch(160¢) 2'3 Bush Terminal (d). 8% Bush Term deb (d) 14% Bush T Bldgs of(d) 7% Butler Bros (aé0c) 31 Butler Brospf1%._. 2% Butte Copper&Zine 16% Byers (A M) . _ ... 54% Byers (A M) Df ___ 22 Byron Jackson t1.. 30% California PEgt1%) % Callahan “inc 6 Calumet & Heca75e 30 Campbell Wy (11)._ 10% Canada Dry G - 10% Canadian Pacifie... 37 Cunnn Mills (a4)__. 6% Carrie.s & Gen 20¢.. 54% Caterpillar Trac 13. 21% Celanese C (860c) . 25% Cent Aguire (11%) 6% Central Foundry Co 35 Central RROfNJ. 47% Cerro de Pasco (4) 5714 Certain-teed pf (6). 19 Champ Pap & F (1) 59 Chesapeake Corp(3) 51 Ches & Ohio (12.80). 2% Ch) & East L1l pf(d) 1% Chi Grt West (d) .. 4 ChiGrt W pf (). 25% Chi Mall Ord(t13). 1% Chi M1l 8t P&P (d). 2% Cht M 8t P&P ot (d) 2% Chi&NW Q). ._. 6% Chi & N W pf (d) .. 12% Chi Pneumatic Tool 1% Chi R 1&Pas (d). 3% Chi RI&P 6% pf td) 3% Chi R I&P 1% of(d) 19% Chi Yellow Cab (3). 7 Childs Co . 26 Chile Copper (1) 85% Chrysler Corp(a12) 15% City ice & Fuel (3) 72% City Ice&F pf (6%) 4% City Stores 23% Clark lfiuip{fl.‘fl)_ 33 Clev Graph Br (2).. 84 Coca-Cola (2) _._. 18 Colgate P-P (50c). IOIV. 100 Colgate-P-P pt (6). 66% 39% Collins & Alk *3 4% 3% 36 23% 108% 103 45% 51% 136% 84% 9% 24% 5% 82 13% 44y 17 28% Col Fuel & Ir (new) 19% Colo & South 1st pf 16 Colo & South 24 pf 14 Columb G & Eatlc 90% Col G & EofA (6). 80% ColG& Epf (6).._ 81 Colum Plet vto (1) 42% Colum Pic ev pf 3% 94 Colum Carb rte(4) 44 Comel Credit (t4)._. 55 Com'l Invest T (14) 14% Come’l Solv (160c) . 2% Comw & Southern. 59% Comw & Sou pf (3). 7 Conde Nast Pud 30% Congoleum N t1. 16 Congress Cigar (a2 8 Consol (‘igar 27% Consol EA NY t3_ 3% Consol Laundries.. 11% Consol Ol (t60¢) 5% ConsolR R Cuba pf. % Consol Textile (d). 2 Cons Coal (Dal)vte 12% Cons C (Del) pf vte 15% Container Corp (11) 10% Cont) Baking (A) .. 1% Contl Baking (B, 67% Cont’l Can (13) .. 17% Cont] Dia Fibre(2). 35% Contl insur ($1.30). 2% Contl Motors 28% Contl Ol (Del)al%. 25% Contl Steel Corp(1) 63% Corn Prod Ref (13). Co 35 Cream of Wh't (fl) 385% 15% Crosley Radioall . 3% Cr'n C&S rts Dee 23. %mnaunau - eno - » LR T TS rs 1 T++1 0+ 410101 FSE FIEFEE FEXEF FFFEEEFE F ¥ FEFF +11 e "3 B AR FErEss LEhds (ki id ++ § OEER X OFFESF L FREFFTE FE2 19 - ° AN ANBSARR-RRRNN ST O A FFEENE - 2 125% 125% 8 11% 1T% 1103 108 1 59% 59% 16 43% 41% 208 30% 30% ... - - - "!.-.5«:-.._-.,-8:.._-==.§=a.. 9% 4% lifl 128 Detroit Edison (%4) 27 Deere & Co pf(1.40) M% 19% Deisel-Wem-G (11) 36% Delaware & Hudson 14% Dl Lack & Weat__. 4 Det & Mackinac .. 373 Dia Match pf t1% . 184 Dist Corp Seag Ltd. 94% Distillers C'p pf(5).- 41% Dome Mines (12) .. 50% Douxlass Atrcraft 29 Dresser Mfg(A)a3. 13 Dresser Mfg(B)al. 18% 13% DuplanSilk (1) . 184% 133 Du Pontde N 26.10.. 9% 5% Kastern Roll Mills_. 40% 28!y Eaton Mg (12) ... 15% 6% Eitington-Schild 47% 30% Elec Auto Lite 72.40 115 110% Elec Auto L pt (7). 17% 10 Elec Boat (260c) __. 7% 5% El& Mus IndalSc_. 19% 6% KlecPwa& Ll . 834 29% Kleoc Pw & Lt $6 pf_ 89% 32% Elec Pw & Lt 37 pt_ 42% Elec Stor Bata2¥ 3% 1% EIK Horn Cpt (). lm 110 Endicott-J vf (5)_. 5% Bquit Office B a20e. 11 EreRR. . 11% Erte R R 24 p! 12 Eureka Vac C (80¢) 23% Evans Product(11). 34% Fairb’ks-Morse(t ) 31% Fajardo Sugar (2. 3 Fed Screw Works__ 2% Fed Water Sve (A). 20% Fed'd Dept St a1.60_ 38 F1d Phoe I | (11.20) 247 Firestone T & R (2) 30% Flintkote Co (1)... 3% Follansbee Bros (d) 32 Food Machine (1) 24% Foster-Wheeler __ 30% Fourth Nat I a2.35 . 23!s Freeport-Texas (1). 31% FullerCo2d ot .. 3% Gabriel Co (A)oeae 113 Gamewell Co 17% Gar Wood Ind a55c_ 8l Gen Am Inv (a7he)_ 42% Gen Am Trans (a3). 10% Gen Baking (t60c).. 7 Gen Bronze. .. .___ 5% Gen Cable - 70'3 Gen Cable pt (37)_.. 3413 Gen Electrie (1) 33% Gen Foods 11.80) _. 'a Gen Gas & Elec (A) 19 Gen Gas&El 7% of. 53% Gen Motors Ya)- 5% Gen Qutdoors Adv... 34 Gen Pub Service __ 32!5 Gen Ry Signai (1) 2 Gen Realty & Util __ 2615 Gen Realty & V' pf_. 3214 Gen St Casung pf 17 Gen Theatre E (a2). 13% Gillette Saf Kas (1) 6% Gimbel Bros 84 Gimbel Bros pf (l)- 398 Glidden Co (2) 52% Glidden cv DNZ'A)- 3% Gobel (Adolf) . 6% Goebel Brew (120¢) 13% Goodrich (B F) 86% 74 Goodrich(BF)pf(5) 31% 21% Goudvear 1 & K 103% 103 Goody r T&R of «5) 114 87 Goodyear $7 pf (4)_ 14% 81 Gotham Silk Hos 4'a 2 Graham-Paige 11% 1% Granby (24 stpd) .. 6% 3l Grand Unionctfs__ 35% 24!y Granite City Sti (1) 46% 32% Grt Northexnpf.__. 22% 16 Grt North'n Ure (1) 41 31 Grt West Sug (2.40) 39% 22 Green (H L)Co(t1) 17 15% Greyhound (180c) n 3% 1% Guantanamo Sugar 63%3 24 Guantanamo Sug pf 6213 301 Gulf Mobtie & N pf 63 28% Guilf States Steel __ 14% 6 Hall(WF)Printin 32 14 Hamilton Wateh __ 52% 30% Harb-Walker (t2)_ 18% 12 HatCorpof Am (A) 115 104 HatCprww (63%). 9 4% Hayes Body 21% 12% Hecker Prod (60c)- 138 84 Hercules Powa5g 119 102 Hershey Cpf |vll—< 33% 9 Hollander (t50e) 42 19% Holly Sugar (12)__. 38 22% Houd-Her (B) t1%. 12%4 6% Houston Ofl vte __. 63 48% Howe Sound (t3)__ 5% 31 Hudson & Manha: 22% 13% Hudson Motor Car. 3% 1 Hupp Motors. . 29% 18% (llinots Central ___ 15% 4% Indian Refin (a1)__. 41% 25% Indus Rayon (1.68) 147 106 Ingersoll-Rand(12) 122 28% Lnland Steel (3) 16% 6% Inspiration Copper 18% 11% Inter Rap T vtc (d) 5% 215 Intercontl Rubber.. 15% 9% Interlake iron ___. 5% 2% Int Agricultural. .. 415, 22% Int Agricul pr pf .. 190% 160 Int Bus Mach (16)_. 101% 56% IntHarvester 2%._. T% 2% Int Hydro Klec (A) 8 4% Int Mercantile Mar. 66% 43% Int Nickel (a1.30) . 22% 3% int Paper & Pw (A) 12% 2% Int Paper & Pw (B) 5% 1% Int Paper & Pw (C) 97% 20%5 Int Paper .: Pw pf 112 107 [nt Print Ink pf(6) 61% 19% Int Rwy Cent A pf_ 30 23 (ntSalt (1%) 93 50 IntSilver pf (34) 19% 11% Int Tel & Tel & 37% 10% Interstate D Sab0c. 144 88 Johns-Manville(i2) l%u 121% Johns-Manv of (7) T5% Jon & L 7% of $1% 39% Kalamazoo S (t1)_. 17 Kauf'nn DS t1.60__ 20 Kelsey-H (A)al}. 14% Keivinator (t60c)_. 87 Kendall pf A (16) __ 28% Kennecott (a1.70) .. 17% Keystone S&W (2). 18% Kimberly Clark(1)._ 3% Kinney (G R) Co 30 Kinney (G R) pf 4% Kresge Dept Strs._... 20% Kresge (S8) (t1)__ 35% Kress(SH&Co(t1). 19% Kroger G&B(11.60) 32 Laclede Gas St L pf 15% Lambert Co (2) 15% Leh Port Cem’t(a2) 30% 18% 27t 92 56% 56 % 10% 32% 26 151 94% Lehigh Por C pf (4) 2 Lehigh Valley Coal 9% Lehigh Val Coal pt. 8% Lehigh Valley R R_ 12 Lehn & Tinkall% . 373% Lerner Stores (12)._ 47% Libbey-Ow Gla3%. 7 Libby. McN&Lal_ 25 Life Saver (11.60) . 97% Ligg&Mvers B (t4). 25% Lima Locomotive 36 Link Belt (12)_ 32% Liquid Carb(1. 43 Loew’sInc (t2) __. 2 Loft Ine 85% Lone Star Cmt('!)_ 3% Long Bell Lum (A). 38% Loose-Wiles (2) % 21% Lorillard (P) $1.20. 141 Lorillard (P) pf(7) 13 La Ofl Ref pf (@) 20 LouisvG&EDIA 1% 22% Ludlum Steel (t1)_. 12% McCrory Stores . 40% McGraw Elec (12)._. 16 McGraw Hil Pub__ 38% Mcintyre Porcu (3) 85 McKeespt Tinab% . 8% McKesson & Rob 11% McLellan Strs a20e. 27% Mack Trucks (1) _. 40% Macy (R H) Co (3). 8% Madison Sq G t60c.. 1% Manati Sugar (d) . 7% Manati Sug pf (d) . 13% Man B) md g4 (d). 17% Manhat Shirt (1) 2% Maracaibo O1l Bx». 81 Marine Midl'd t40c_ 1% Market St Ry 2 6% Market St Ry pf. . _ 2% Market St Ry 2d pf 18% Market St Ry pr pf 11% Marshall Feld & Co 6% Martin Parry 27% Mathieson Alk(13%) 43% May Dept Strs (l)_, 12% Mead Corp. 6% MengeiCo ... 50 Mengel Co pf_.._. 5% Miami Copper 17% Mid-Cont Pet al.15. 48% 21% Mid Stl Prod (a2).. 131% 110 Mid Stl 1st pf (8)._.. 12% 81% = e 6% Minn Moline Pwr. 5T% Minn Moline Pwr ot 16% Mission Corp(atSe). 5% Mo Kans & Texas__ 2% Missouri 8 SuPrmonan - 1-19% [ » o 8 2 - S O R OR 000 xS 13013 1 & 5100 NS & 00 & b4 - 201 SN N30 S 1 = O o b fli llfi 82 46 18% 9%y 39% 26% 95 50% 6% 145 31% 46 o 1+4++++++11 FE FEE F OFFITISE FEFRFIFT SFEFE FE FEFFERIZF 141 TV4 144+ +4+ 1410 +4+4 1 1§ 1 & © +rH 140140 & FEEEEE FEEFF 4440 L FIH14 ~ F EFFPE FEEEE (RN + 14410 © Firy 8 FEF A+ FEFIFe Tarir ¥ 44 Ui 1L® ¥ FFEFIER & Li1+++1 l++l.|" B OFEFEEERIES ++ ++ 114 PR FFER R F P OFFEF F + o © ZIK 108 68 T 2% 43% 27 39%, 101% 9% 22% 24% 33% 36% 14% 1% ki3 12% 13% 32% 49% 15 | 122% 50t 113 114 65% 24% 1335 2019 19% 14% 80 1074 981y . 244 25 81 274 1243 1041 3078 63 138 3¢ 36k 6015 1178 49% 114 34 3% 5574 101% 204 k3 19%" 45 28 14 48% 6% 38 3% Mo Pacific pf (d) - 3 19% Mohawk Carp 11.20_ 79 Monsanto Chem(+1) 35% Montgom Ward(t2) 60% Morris&Essex(3% ) % Mother Lode al12%e 28% Motor Prod (13) 15% Motor Wheel (1.60). 11% Mullins M£(B)a50c. 70 Mullins Mfg of (7). 21 Munsingwear (13).. 44 Murphy G C(12) __ 14 Murray Corp (a50c) 15 Nash Motors (1) 12% Natl Aeme (a75¢) - 28% Nat Biscuit (1.60). 21% Nat Cash Reg (al).. 21 Nat Dairy Proal%_ 112% 107% Nat Dairy P pt A(7) 112 107% Nat Dairy P pt B(7) 10 Nat Dept Store: 25% Nat Dist Pr(f) 26% Nat Lead (t50c) . 9% Nat Pwr & Lt (60c) % Nat Ry Mex 24 pf__ 57% Nat Steel (13) . _. 7% Nat Tea (80c) 10% Natomas (t80¢c) 9 Newp't Indus aé0c.. 27% N Y Central R R 34 N Y Dock 10% N Y Dock pt 1 N ¥ Investors (4 3 NYNH&H ) .. 7% NY NH & H pf (4).. 9% N Y Shipbuilding 57 N Y Shipbldg pf(7). 6% North Am Aviation. 23% North Am Co (t1) __ 98 North Am Ed pf(6) 23% Northern Pacific . 50 Northwest Tel (3)_ 2 Norwalk Tire&Rub 12% Ohio O1l (a60c) _. 17 Omnibus Corp vte.. 8 Oppenheim Collin: 244 Otis Elevator a5 1215 Otis Stees 70 Otis Steel pr pt 13 Pac Am Fisner (1). 314 Pacific Coast 8% Pacific Coast 1s 4% Pacific Coast 24 34 Pacific Finan t1.80_. 30% Pacific G & £ (1%)_ 14% Pacific Mills (a1) _ 11% Pac West'n Oll a850 6% Packard Mot (a45c) 12Y% Pan Am Petr (af0c) 1% Panhandle Pro & R 1814 Panhandle P&R pf. T's Paramount Piet .. 59 Paramount 18t pf._ 814 Paramount P 2d pf_ 24, Park Utah 23 Parker Rust P 11%. 414 Parmelee Transp't_ 65 Pathe Film Corp. 10' Patino Mines 114 Peerless Motor ___. 60 Penick & Ford (3) _ 69 Pennev(JC) (aT%)} 3% Penn Coal & Coke 415 Penn Dixie Cement 284 Penna Railroad(a2) 12% Pet C'p of Am a%0c 10'a Pfeiffer Brew «1.20) 25% Phelps Dodgeal . 3l Phila Rap Tr (d) 84 Phila Rap Tr pf (d) 113 Phila & Read C& 1. 66 Phillip Morris (3) 38'4 Phillips Pet (a235)._ 512 Phoenix Hosterv _ 70 Phoenix H pf (3%). 8 Pler 11 pf 1'4 Plerce Petroleum Tia Pitts Coal Tia Pitts Screw a52 %:_ 49 Pitts Steel pf -- 2% Pitts United Corp 117 Plymouth O1l (t1)_. 12 Poor & Co (B) - 4% Porto R Am Tob 1% Porto R Am Tob B _ 6% Postal Tel&C pf (d) 17'4 Pressed Steel Car__ 17% Press Stl C 1st pf - 573 Press St Car 24 pfn 40'% Proctor & Gam t1% 116! Proc & Gam pf (5) 39 PubSveNJ (2.40). 1035 PubSve NJ pf (5)_ 112 Pub Sve E&G pf(5). 367 Pullman (ne (1%). 16 Pure Ol 103 Pure O118% pf 9% Purity Baker! 16's Quaker Sta Ref 80c. 9% Radio Corp = 68!3 Radlio Corp pf A 3% 5 Radio-Kelth-Or () 6514 Real Silk pf (£10%) 17, Reis (Robt) 12'a Reliable Strsas0c.-. 17% Rem Rand (160c)._ 4% Reo Motor Car 167 Repuhlic Steel - 77 Repub Steel pf $12_. 8% Rep Stl pr of A (). 10 Revere Copper . 243 Revere Copper (A) - 90 Revere C&B pfails 2213 Revnolds Met (1) 25 Reynolds Spring t1. 50 Revnolds Tob B (3) 74% Ruberoid Co (1) 27 Safeway Stores(12) 108 Safeway Strs pf (6) 22 StJoseph Ld (al).. 113 St L-S&n Fran «d)_ 37% Schenley Dist (¥3)_ 97% Scuentey D pf (534) 1% Schulte R Strs (d) - % Schulte R S pf (d). 5815 Scott Paper (12) s Seaboard Afr L «d). 2 Seaboard A L pf(d) 3014 Seaboard Oll (1y... 343 Seagrave Corp = 593, Sears Roebuck (12) 2% Secona Natl invest 61% Sec Nat Inv pf 14.65 15% Servel Inc (t1) 20% Sharon Steel (a1.20) 4% Sharpe & bohme 11'% Shattuck F G(t50¢c) 30% Sheaffer Pen (2) 14% Shell Un Oil (a25¢). 127% 110% Shell Un Ol of 6% 8%, Silver King (60c)_. 19% Simmons Co (a3)__. 31y Simms Petrol 19% Skelly Of1_ 1 28 10s 2% 98 27% 27% 98 654 68% 1% 39% 24% 36% 144 +1+1+4 AN B EEELFLEES EES SERESEE EEEE Tl + 44+ 1++000 0140 I+ Vi++ +4+ ++4+1 LI+ +14+1+ PEE PESEES $F FEEE FE ESEE FERESSEEL FEESER EERE 5 re refse ESFEFEEETRFLSESF L .LI ++ 1010 l:l|+: +t++ ittt I+l ++ FEEFEL PP FF FEFF §F OFEF IR Ede | 36% 40% Smith (A O) 3% S0 Am G & P(a3lc) 26 South Port 8 (13).. 160 149 8o Porto RSpf (8). 32% 4T% 25% 50% 1% 9% 27 24% 114% 18% 20 South Cal B4 (1%). 231% Southern Pacific. 12% Southern Railway.. 19 Southern Ry pf.... 6% Spalding (A G) 5% Sparks- Withington 6% Spear & Co (a50c) - 15% Sperry C'p vie (al). 63 Splegel-May-8 (3)_ 14% Stand Brands 180c.. 129 120% Stand Brands pf(7) 13% 9% 24% 64 4% 45% T0% 8% 106 2T% T4% 184 27% 17% 12 15 8% 1Ty 105% 99 6613 106% 284 149% 32% 21 374% 33% | 17 9 48% 11 including extras o Paid last vear reorganized. 9% Stand Com Tobacco 5% Stand Gas & El (d). 9% Stand G&B $4 pf (d) 26% Stand G&E 87 pf (d) 35 Stand Oof Cal (11). 32% Stand Ol of Mad t1._ 51% Stand Ol of N J (11 65 Sterling Prod +3.80. 16% Stew-Warner 150t 14% Stone & Webster . __ 9% Studebaker Corp 27 Superheaterad2ije 3 Superior Ol _. 9% Superior Steel 23 Sutherind Pap +1.60 20% Swift & Co (11.20) .. 28% Swift Intl Ltd 12) 15 Symgton-Gould ww. 12% Symingtn Gould xw 5% Tennessee Corp . 28% Texas Corp'n (1) 4% Texas Gulf Pr (a5e¢) 33 Tex Gulf Sul (12) - 715 Tex Pac C & O a2be. 9i4 Texas PL T (allc). 856 The Fair pf (7). 815 Thermotd Co 23% Third Nat Inval.lb 24% Thomp Prod (al%). 47 Thompson Starrett 26 Thompson Star p 143, Tide W Ass0 O 60c_ 100% Tide Wat A O pf(6) 12% Timken Detroit(t1) 56 Timken Roll B (13) 11 Transamerica t40c. 14% Trans & Westn Alr_ 10% Transue&W (160c). 73 Tricontinental a50c. T Truscon Steel - 224 20th Cent Fox (a2)- 8% TwinCity RT 65% TwinCity R T of . 74% Und-Ell-Fish(a2%) 3813 Unton Bag&Pap (2) 71% Union Carb & C 3.20 20% Union Oil Calif (1) 108% Union Pacific «6) _. 20% Unit Afrcraft a50c._. 13 United Air Line vte. 16% United Am Bosch 24% United Bisc (1.60)_. 111 United Bisc pf (7) . 5% United Corp (a20c). 40% United Corp pf +3) 10% United Drug (a75¢). 4 United Elec Coal 3214 Unit Eng & Fy (12). 6615 United Fruit (13) _ 14'4 United Gas Imp (1) 10 U 8 Distributing of 13 US& For'n Secur.. 24% U 8 Freight (11).. 874 U 8 Hoffman - 31% U 8 Indus Alcohol .. 4'3 U S Leather vtc __ 10% U S Leather A vtc . 21% US Pipe & Fy(1%4). 7% U 8 Realty & IIID__ 16% U 8 Rubber 47 U S Rubber 18t pf _ 72% U S Smelting (a10) 68'; USSm&R of (3%). 46% U S Steel - 131 U S Tobaceco (t5) - 160 U S Tobacco pf (7). 5 United Stores (A). 50 Univ Plet 1stpf __. 3% Utll Pwr & Lt (A)_. 1 Vadsco Sales Corp 30 Vadsco Sales Co pf Vanadium ““orp Van Raalte (ad%). Va-Car Chemicai 8% Va-Car Chem 6% vt Va El-& Pwr pf (6) Va Iron Coal&Coke ValronC&Copf .. Wabash (d) Wabash pf A (d) Waldorf Sys +1.21 26 Walker (H) (2) 5% Walworth Co 9% Warner Bres Pile 1,, Warner-Quin (d) 61 Webster Eisenlohr. 335 Wesson O&S(160¢) 913, West Pa Elec A (7) 87 Waest Pa Elec pf (6) 96 West Pa Elec pf (1) 8% Western Maryland. 15 Western Md 2d pf__ 1% Western Pacific 51 Western Pacific p! 723 West'n Union (a2)_ 34% West'h'se ABali_ 9413 Westh'se El (a5%) - 193 Westvaco Chlor (1) 32% Westvaco 6%t 1% 18% White Motor 13% White Rk M 8(1.40) 3% White Sewing Mch. 16 White Sew Mch pt_. 23% Wileox Oll & Gas . 6% Wilson & Co (60¢c).. 70 Wilson & Co pf (6)_ 443% Woolworth (2.40) __ 234 Worthington Pum 62% Wright Aero (al) . 8% Yellow Tr & Coach. 2% Yellow T&C Dec 24 8345 Yellow Tr&C pf $35 42Y% Young Spr&W (13). 41% Youngs'tn Sheet&T 11 Zenith Radio - 5% Zonite Products. . 0 A.M. 460.000 xEx dividend. 19 4 23% 16 4% 32% 25% 33% 25% 16% 53 391 45 83 % 654 334 334 1291, 16% 2% 1627 48% 80% 383, Te Approximate Sales of Stocks on the N. ¥. Stock Exchange. 12:00 Noon. Dividend rates as given in the above iable are ine aanusi cash Dayments basea ow the latest quarteriy or half-veariy deciarations, 3 Unit of tradiug less than 100 shares. $ Accumulated dividends. d Comanies reported in receiversnip or being t Annua) rate—not 2 Paid 1 000,000 Ad% - % D e o B S e T+ 140+ +H4e+1 ++1 T++ 10+ | steels, motors, ONSTOCKMARKET Assortment Up Fractions to Point or More—Many Leaders Uncertain. Stock Averages 15 18 80 Indus. RADls 00U Stks Net change_Unc. +.1 Unc. Today, close 96.1 520 70.4 Prev. day... 96.1 519 704 Month ago.. 98.8 524 726 Year ago.__ 740 44.0 557 1936 high.__ 993 53.7 728 1936 low._._. 734 434 55.7 1935 high__. 763 447 561 1935 low.... 495 185 21.6 348 1932 low. 175 8.7 239 169 1929 high...146.9 153.9 184.3 157.7 1927 low ... 516 953 6138 618 381 38.0 411 306 435 302 31.2 (Compiled by the Associated Press.) BY VICTOR EUBANK, Associatea Press Finan:al Writer NEW YORK, December 5.—Stocks grasped at rallying straws in today's market and an assortment of special- ties managed to work ahead for gains of fractions to a- point or more. Many of the leaders, including the rails and utilities, churned indefinitely and light selling cut down a few issues here and there. Transfers were around 950,000 shares. Business news was again a support- ing influence and nervousness over foreign happenings seemed to have waned appreciably. Oils, aircrafts and rail equipments | were in the popular column during the greater part of the two-hour pro- ceedings, although some of these gave ground later, Conspicuous gainers included New- port Industries. Texas Gulf Pro | ing, Poor & Co., American Locomo- | tive, Baldwin, Houston Oil, | Oil of New Jersey, Pure Oil, Douglas | Aircraft, Standard United Aircraft, United States Industrial Alcohol, American Comercial Alcohol and International T \l‘ ‘n Wl % | % LR | ol 1 | ++ 000 2 — 14| +1% | «v%¢ 5 IABEREZ R 3} 13044 16% 2% 1627 48% 81 38% 8 + +1+10 chis year RAILROAD INCOMES RISE 37 PER CENT FEDERAL LAND BANKS NEW YORK. December 5 (#).—Federal | Ol Land Bank bonds 4'ss November 4las May SLACKENING SEEN IN WOOL MARKETS % | tral, Increase Over 1935 Period, Association Reports. B3 the Associated Press. The Association of American Rail- roads yesterday reported net railway operating income was running 37 per cent ahead of last year. Complete reports from Class 1 car- riers, which showed a net income of $89,851,409 for October, brought their 10 months’ total to $524,627,844, as compared with $396.656,269 for the same period last year. The association observed, however, the current figures were far behind 1930, when Class 1 carriers reported & net operating income of $759,038,637 for the first 10 months. This, the asso- ciation added in a statement, was at an annual rate of return of 3.43 per cent on property investment, while the curgent income is at an annual rate of 2.36 per cent. Gross operating revenues of these carriers through October, this year, were placed at $3,321,921,613, compared with $2,852,818,220 last year, an in- crease of 16.4 per cent. Operating expenses this year were listed as 12.8 per cent higher, amount- ing to $2,425,814,173, compared to $2,- 149,914,981 in the same period of 1935. U. S. TREASURY NOTES. MQI‘ D llllle!.lk' ¥ iE serid | : ....... S b i .._.____ 143 % fic ~ =9 b i ok o S2RIRR =t ot tsasests 228 g_iq.- i3 5 i, (o o 0 " i i RS 2 n s o I e 1S 1920315 0909 250 EE S o T SEssesEEREEE, oy It =t 2 & 8 Ten Months' Total Show Iarge" 4'%s January ay CHICAGO LIVE STOCK. CHICAGO. December 5 (#).—Hogs d veloped a down :enutney in_today's duler live siock ‘trade.” The market was A ew“tosd 0 "choice butchers sold at £.25 0 9.85 and some sorted swine scal- ing around 250 pounds brought 10. Quotable top was 10.05. There was an increase in the volume of receipts of all live stock this week compared with the previous weel because the latter period contain: day. Nevertheless, prices stiffened in departments except fat lambs. Traders said the prmctpn strengthening factors in live stock included the termina- tion of the period of increased poultry competition and reports of good demand for meat at retail counters. ~There were also trade reports that some D in- ferests ‘were storing pork heavily. Whole- sale meat prices were about steady to strong, “aitbough most cuis showed littie change Hoks advanced 15 to 35 cents during the week oy Fietng "to 10,55 Der. hundred weight on Thursday. is was the high- est in almost two mol Meditmweight and welthty steers I.'In.d Digher In: sharp advance of heavier steers Dl these on & price parity with yeariings for the first time in scaling 1,280 pounds the weeks top reached 1250 siong with yearlings. NEW YORK BANK STOCKS | NEW YORK. December 5 (#.—New York Security Dealers’ : %] mand Fair for Early Needs | Western Contracting Halted—De- in East. BY the Associated Press. BOSTON, December 5.—The Com- | mercial Bulletin will say tomorrow: “There has come a lull in the wool markets of the world this week. Con- tracting of wool in the West has al. most entirely stopped, with about 50,000,000 pounds now under con- tract. “In the Eastern markets there is | still a fair demand for nearby re- quirements. Mills are evidently will- ing to pay more for wools they must have soon than for wools to be de- livered next Summer. Medium wools in particular are in a ‘squeeze’ and slightly stronger for the week. “There is a let-down, too, in the secondary markets of Europe, where values are rather behind the prices be- ing paid in the primary markets. “Spinners and combers as well as manufacturers report a hesitancy on the part of consumers to pay the latest advances and so business is on s much smaller scale for the moment. “Mohair is in very limited supply | and rather quiet, but distinctly firm.” METAL mn‘r NEW YORK. December 5 iture. lfl L SRt S nw YORK PEODUCE Hydroelectric. In a comparatively restricted groove were United States Steel, Bethlehen: General Motors, Chrysler, Montgomery Ward, Sears-Roebuck, Western Un- |ion, Consolidated Edison, North American, Goodyear, New York Cen- Pennsylvania, Public Service of New Jersey and American Water ‘Works. A downward drift was exhibited b American Telephone, Anaconda, Ken- necott. McIntyre Porcupine, Dome¢ Standard Oil of Indiana, Woolworth and Gul{ States Steel. %% MONEY AVAILABLE For Construction Loans and Loans on Improved Properties in the District of Columbia. Prompt Action on Applications Real Estate Mortgage & Guaranty Corporation 1610 K St. N.W. NAtL 1403 First Morteace Loans District ot Columbia— Nearby Maryland — and /irginia— Homes Apartments o. Business Properties l Terms from 3 to 15 Years Also Monthly Payment Loans Randall H. Hagner & Co. Incorporated MORTGAGE LOAN COERESPONDENT New York Life Insurance Co.. 1321 Conn. Ave. N.W. DE. 3600 CHASE CLUS First Morll’ll! Five and Qne-Half Per t Gol NOTICE 18 HEREBY® G that pur- suant to the provisions of an Indenture dated July 1. 1926, between Chevy Chase Club and The Pidelity Trust Company. Trustee. and American Security and Trust Company. Registrar under which the above bonds were issued Chevy Chase Club has elected to exercise ifs option to and will -y‘ufii gedeem ol o onil rst Mortgage Five and One-Hal Gent Gold Bonds, due July 1,19 under said Indenture. viz: in agsregate principal amount of $341.000.00 937 “at the redemption e L on_January price, of Thots together with the accrued interest thereon to said redemption date. Accordingly. upon surrender to the sald Registrar American Security and Trust ‘ompany. at its principal office, 15th street f the aforesaid bonds called for redemption as aforesaid. together with all unmatured coupons appertaining thereto. lh! principal amount of said bonds, with he premium of ‘orovided In saig To- entBrewil be o Ji d_the interest 937 on_said bor Al ;:olderl ! said af paj or™ the "Coupons | appertaintne nds maturing on such date. = Said bonds _will become due and January 1. 1937 at the plac redemption price above provmed an an 1937 draw"interest. and the co Subseatiently o said date will be vold. Registered bonds must accompanied by duly executed instruments of assign- ment and transfer Dated Nnvemher 23. 1936 VY CHASE CLUB, By B PRESCOTT GATLEY. Proident. le on - CONSTRUCTION LOANS and LOANS ON IMPROVED PROPERTY in the District of Columbia Nearby Maryland and Virginia | 5v2% Prompt Action B.F.SAUL CO. 925 15th Street Natl. 2100