Evening Star Newspaper, December 8, 1936, Page 18

_SA—18 wxxx EARNING ASSETS | TR OF BANK MOUNT Richmond Reserve Discloses Increase of $7,675,000 Over 1935 Level. BY EDWARD C. STONE. Total earning assets of the Federal Reserve Bank of Richmond rose by $7,675,000 between November 15, 1935, FINANCIAL. THE EVENING STAR, WASHINGTON, D. ©C. ANSACTIONS ON THE NEW YORK STOCK EXCHANGE BYING SELECTIVE te Wire Direct to The Star. 2:15 p.m. Stock and Low. _ Dividend Rate. 42 Abr & Straus a2.55_. 9% Adams Exp (as5¢) _. 17% Adams Millis(21%) 1% Advance Rumiey-.. 58 Alr Reduction (11). 2 Afr-Way Elec Applt 13 Alaska Jun (160c)_. 2% Alleg Corp (4) .. 12% Alleg pt w330w (d). 12% Alleg pf w340w (d). 12 Alleg pf W (4).oee 27 Alleg prpf (d).. . 40% 26% Alleg Steel (21.40)-. 245 34 20% 90 1% 157 Allled Chem (6).__. 23 Allled Mills (a500). 69 Allled Stores pf (5) 35% Allis-Chalm (11%). Add 00. High. 10s 66 48 16% 26% 3% @ E3-FET CT T Prev. 1030 Aigh. Low. 5 p.m. Stock and Dividend 15 Conti Baking (B).. 9 6735 Cont’l Can (13)___. 16 17% Contl Dia Fibre(2). 35% Contl Insur (11.20). 2% Contl Motors .. ... 26% Contl Ol (Del)al%. 25 Contl Steel Corp(1) 56% Corn Ex Bk&TT (3) 63% Corn Prod Ref (13). 4 Coty Ine 24 Crane Co. 85 Cream of Wh't (12). 43% Crown C k& S (a4). 3% Cr'n C&S rts Dec 23. 49% 44 CrownCk pfxw 23§ uo 102 Crown WP 1st $6%. T% Crown Zelleb’x vtc. 28 Crucible Steel 95% Crucible 8 pf $4.76 67% 21% 41% 3 Net 1 49% 49% 49% + 4 -1% , ‘TUESDAY. DECE 2:16 p.m. Prev. 1936 BM 26% 18% 18% 45% 4 19 22 123% 21% 65 80% 13 31% 115 116% 20% Laclede Gas (8t L) 82 Laclede Gas St Lpt 15% Lambert Co (3).... T% Lane Bryant. ... 12 Lee Rub&Tire(60c) 15% Leh Port Cem’t(a2) 2 Lehigh Valiey Coal. 9% Lehigh Val Coal pt. 81 Lehigh Valley R R 89 Lehman Corp (13). 12 Lehn & Tinkal%._. 371% Lerner Stores (12). 4T% Libbey-Ow Glad%. 7 Libby, McN&Lal. 25 Life Saver (11.60)_. 97 Ligg & Myers (14)._. 97% Ligg&Myers B (14). 169 160 Ligg&Myerspf (7). 23% 19 Lily Tulip Cup(1%) Net 21% 42 20 50s 26% 26% +1 108 # FEF EEX - Bales— Stock and Prev. 1936 Rate. MMAUS:.B;IMM fllll. Low. Dividend Rate. Add 00. High. Low. Close. Ohge. | High, Low. 25 17% Rem Rand (160c).. 85 RmRnd pf ww 4% 4% Reo Motor Car 16% Republic Steel 77 Repub Steel pf $12_ 78% Rep Stlprpf A (6).x 10 Rovere Coppar 90 Revere C&B Dfll* IIOI 221 Reynolds Met (1) 25 Reynol pring t1. 50 Reynolds Tob B (3) 32 Roan AnteCal.12.. 74% Ruberotd Co (1), 5% Rutland R R pf.. 27 Safeway Stores(t2) 22 StJoseph Ld (al)_. 1% St L-San Fran (d).. 2% St L-San Fr pf (). Stock and Dividend Rate. Add 00. High. Low. Close. Oh" 1 FINANCIAL. 0 22% 22% 83% Y 2% 83% —1% 5% + W 26% + % 124 + % 101% 29% — % 130 -2 2% + % 32 EFF Net change. +.3 Others Quiet. Stock Averages 1ndos Rabs +3 + 1 ) -?&2 ONSTOCK MARKET Favored Motors, Special- ties and Rails Go Higher, % 11 Savage Armsal)_ .. 37% Schenley Dist (13).. 97% Schenley D pf (5%) 1% Schulte R Strs (d) . 7 Seaboard Air L (d). 2 Seaboard A L pf(d). and November 15, 1936, according to the bank’s latest monthly review reaching member banks in Washing- ton. 2 1121 121 121 8 3 2% 2% 18% 17% 18 Today, noon 96.0 Prev. day... 95.7 Month ago. 99.3 38.1 379 519 517 51.7 432 53.7 70.3 10.1 729 54.7 128 3% 63% 25% Lima Locomotive 54 36 Link Belt (12)- 461 323 Liquid Carb (2.6 65% 43 Loew’s Ino (12) 199- Alpha Port C(al%). 5% Amal Leather_ . 125% Amerada Corp (2 89 Am Ag Ch (Del) aé_ 55% Am Bank Note (f1). 1% Cuba Co. 9 CubaRRDf oo 614 Cuban-Am Sugar... 63814 Cuban Am Sug pf-.. 35% Cudahy Pkg (2%).. T UL e YN e -1% anmparSomannns 4808 2! 508 - 38% 38% 38% + % Discounts held dropped by $17,000, open market paper held dropped by $52,000, and industrial loans to busi- ness firms for working capital dropped by $1,050,000. On the other hand, the bank’s holdings of Government se- turities rose by $8,794,000 during the year, representing a redistribution of holdings between Federal Reserve banks while the total holdings of the system remained unchanged. Actual circulation of Federal Re- serve notes rose by $20,057,000 during the year, partly due to replacement of some national bank notes with Federal Reserve notes and partly to increased business activity this year. Reserve deposits of member banks at the Rich- mond bank increased by $52,266,000 between November 15 last year and this. On November 15, 1936, cash re- serves of the Federal Reserve Bank of Richmond showed an increase of $76,376,000 over reserves on November 15, 1935, and the ratio of cash reserves to note and deposit liabilities combined rose 453 points during the same period. Total earning assets of the Federal Reserve Bank of Richmond declined by $209,000 between the middle of Octo- ber and the middle of November this year, discounts held decreasing by $151,000 and industrial advances for working capital falling by $58,000. Margin Views Given Board. Comments on the Federal Reserve system'’s proposed changes in Federal margin regulations have been sub- mitted to the governors by the securi- ties exchanges. The suggested changes are intended to prevent “in-and-out” trading, which is not fully margined in accordance with Federal requirements. The Reserve Board proposes to elim- {nate the three-day grace period which 1s now allowed to elapse between the time the purchase takes place and the delivery of the required margin. The proposed changes are generally opposed by both brokers and cus- tomers. Brokers claim the present rules are fair to everybody. They con- sider it is not fair to put further re- strictions on margin trading, thus fur- ther reducing the volume. Many cus- tomers say they often put in orders well under the market for more stocks than they expect to get, the idea being to obtain the best possible prices. To cover all orders with margins in ad- vance would place a hardship on all traders putting in more than one or- der at a time. 1t is reported here that the New York Stock Exchange will ask that the three days of grace be reduced to 24 hours instead of being eliminated. Franklin Payment Started. There was a grand rush to the De- partmental Bank Building at 1726 Pennsylvania avenue this morning, when the old Franklin National Bank started paying $250,000 to the 17,000 depositors. This is 25 per cent of the remaining 35 per cent due former patrons. It looked like a Govern= ment pay day in the bank. The pay- ment coming just at this time takes on the joy of a Christmas present which the depositors do not want to miss. S. M. Thrift is in charge, and payments will be made at this location during the next two weeks. Hillary G. Hoskinson, second’ vice president of the District Bankers’ As- sociation and one of the vice presi- dents of the Riggs National Bank, predicts the best Christmas business here in years and says he would not be surprised if it exceeded the boom days before the depression. The pres- ent large dividend disbursements and &he substantial amount of Christmas Bavings Club funds just paid out are having an important influence on present conditions, the banker added. Roger W. Babson, head of the Bab- son Statistical Service, will give an address at the Raleigh Hotel next Saturday at 10 a.m. before his Wash- ington clients and invited guests on the business outlook for 1937 For sev- eral years Mr. Babson has come here during the holidays and made a speech of this kind which is always most interesting. Reilly Addresses Accountants, History of business and finance for the past few years clearly reveals that the adequacy of many of its systems are_still in question, John A. Reilly, president of the Second National Bank, #aid in an address at Columbus Uni- versity last evening. ‘The problems of the immediate future in the accounting field are so complex that the best available talent will have to be employed by captains of_industry attempting to reach a satisfactory conclusion. “The members of the accounting profession can no longer be satisfied to assemble bookkeeping figures and re- port their totals. Business and financial leaders will expect you to develop wvehicles that will enable them to properly systematize their businesses. In this fleld you will have a rare op- portunity for service which should be very profitable to you if you success- fully conduct yourselves in your pro- fessional work,” Mr. Reilly, formerly professor of finance and credits at the university, asserted. Heard in Financial District. Gockeler, chairman of the Daily average sales in small towns 68 187% 55% 697 1!6 lEh 35% 82 % 3% 61% 145% 63% 26% 190% 102% 104 43 110% Th 84 62% 18% 22% 2T% 1i2 881 107 48% 31ty 548 354 84 30% bd% T8 92 Am Brake Shoe 1.60 116% Am Can (14).—eeee 30 Am Car & Foundry. 31 AmChain(al) ____ 111 Am Chaincv pf (5)- 27 AmCoal of Alleg_. 7% Am Colortype 20% Am Comcl Al (a50c) 18% Am Crystal S(a50¢) 3% Am Encaustic. 61 Am & Forelgn Pwr. 29% Am & For Pw $7 pf. 12 Am & For Pw 2d pf. 4% Am Hide & Leather. 31% Am Hide & L pf (3). 16% Am Ice pf (2) . 9% Am Intrnat'l (a40c) 28% Am Locomotive 66 Am Locomo pf (33). 21 Am Mach&Fdy(11) 10 Am Mach & Met 60c. 27 Am Metal 7% Am Power & Ll‘ht_ 36% Am Pwr&Lt pf (6)- 43 Am Pwr&Lt pf (6). 18% Am Radiator(160c). 23% Am Roll M (11.20) .. 18 Am Seating(a23;)-. 25% Am Shipbldg (2) _. 56% Am Smelt&Ref (3)_- 57% Am Snuff (13) . 20% Am Steel Fary (al) 107% Am Steel Fy pf (7). 48% Am Sugar (2) 20% Am Sumatra Tob 11 149% Am Tel & Teleg (9). 87 Am Tobacco (6).-. 881 Am Tobacco B (5). 8% Am Type Founders. 19% Am Wat Wksa40c. % Am Woolen - 52% Am Woolen pf (x!)_ 3% Am Writ Paper (d). 4% Am Writ Pap pf (d) 3% Am Zinc & Lead_ .. 24 Am Zinc & L pr pf_. 28 Anaconda Cop (11). 15% Anchor Cap (60¢) .- 9 Andes Copper ... 105% Armour Del pf (7). 4% Armour (lilinois) .. 66l Arm'r(Ill)pr pf (6) 47% Armstrong C'k t1%5. 7l Arnold Const (50¢). 84 Artloom Corp.- 12% Asso Dry Good: 103 Assoc D G 1stpf(6). 59 Atch To& S Fea2.. 90% Atch To&S Fe pf(5) 21% Atl CoastLine(al).. 11 AtlGulf& W Ind . 13% At1 G & W Ipf(a3). 26% Atlantic Refin (11). 48 Atlas Powder (12).. 14 Atlas Tack (a75¢)-. 26% Auburn Auto._ 4% Aviation Corp (Del) 2% Baldwin Loco (d). . 2% Baldwin Lo asd(d). 33% Baldw L pf asd(d)- 157s Baltimore & Ohfo._ 21 Baltimore & Oh pf_ 3 417 Bang & Aroos (2%) 109% Bang & Aroos pf(7) % Ban & Ar rts Dec 28 21 Barber Co (a50c) - 82% Barker Bros pf____ 14% Barnsdall O1l (30¢) 16% Bayuk Cigars t75c_. 110 Bayuk C1stpf (7). 135% 32% 1%, 21% 384 3% 631 100% 32% 90% _ 1% 5% and rural areas for October showed a larger increase in the South than in parts of the country, as eom- with October, 1935, Estimates Bureau of Foreign and Domestic erce indicate that sales in the ‘were 35 per cent above October of last year as compared with an in- crease of about 21 per cent for the country as a whole. 186 143 91 32% 34 86 13% 111% 18 Beatrice Cream(f1) 13% Belding-Hem (1) 83 Belg NR pt pf(3.24) 215 Bendix Aviat(al}) 20 Beneficial L «113). 48 Best & Co (2%) 45% Beth Steel .___ 16% Beth St1 5% pf(1).. 1073 Bethlehe Stl pf(7)._ 18% Black & Decker 25¢ 1% Black&D rts Dec 23. 14% Blaw-Knox (a80c) . 18% Bloomingdale (al). 167 BoeingrAlrplane _ 41 Bohn Alum&Br (3). 80% Bon Ami (A) (a5) 25% Borden Co (1.60) _. 64 Borg-Warner (4) 6 Boston & Maine _ 1% Botany Min A (d) - 12! Bridgp't Brass 1400 48% Briges Mfg (12) __ 474 Briggs & Strat (3) .. 40% Bklyn-Man Tr (4) .. 97% Bklyn-Man T pf (6) 415 Bklyn & Queens 334 Bklyn & Qns pf(33). 44% Bklyn Un Gas (3).. 814 Brunswick-Balke._.. 8% Bucyrus-Erie 9% Budd (E G) Mfg 8% Budd Wheel (a20c). 20% Bullard Co (al1%)-. 11% Bulova Watch. 25 Burr Ad Mch(t60¢c). 214 Bush Terminal (d)- 5% Butler Bros (a60c). 30% Butler Brospf13%._. 2% Butte Copper&Zine. 30% California Pxg(1%) 8 Callahan Zinc 6 Calumet & Hec aT5c 30 Campbell Wy (11). 10% Canada Dry G A 10% Canadian Pacific. 6% Carrie.s & Gen 20c. 921 Case (J I) Co (4)_ 116 Case (J 1) Com ( 54% Caterpillar Trac 12. 21% Celanese Corpalis_ 19 Celotex Corp - 54 Celotex Corp pf $5_ 25% Cent Aguire (t134) 6% Central Foundry Co. 35 Central RROfNJ. 47% Cerro de Pasco (4).. 81 Certain-teed Prod._.. 57% Certain-teed pf (6). 19 Champ Pap & F (1) 59 Chesapeake Corp(3) 51 Ches & Ohio (12.80). 1% Chi & East Ill (d) 2% Chi & East 111 pf(d) 1% Chi Grt West (d) . 4 ChiGrt Wof (). 25% Chi Mail Ord(t13%). 1% Chi Mil 8t P&P (d). 2% Cht M St P&P pt (4) 2% Chi & N W (). 12% Chi Pneumatic Tool 1% Chi R 1&Pas (4) 3% Chi R1&P 6% pf td) 3% Chi R I&P 1% pf(d) 17% Chickash Cot Ofl. 7 Childs Co 85% Chrysler Corp(a13). 15% City lce & Fuel (2). 72% City lw ot (635) 4% City 8t z 107% Clev !l Tlu pf €%_. 88% 82 Clev & Pitts (335)__ T4% 129 20% 48% 109 Thh 48 Cluett Peabody (a4). 124 Cluett Peabpf (7)_. 13 Colgate P-P ('50:). 28 213 Colo & Southern . 14 Columb G & E ad0o. 80% ColG& B DL (5)... 31 Colum Pict vte (11) 94 Colum Carb vto(14) 14% Come’l Solv (160¢c).. 2% Comw & Southern. 5'9,!‘ Comw & Sou pf (3). 8 Consol Cigar 274 Consol Ed NY 13 102 Consol B4 NY or(6) 4% Consol Fi] 15% Consol I'II-‘ (32) 3% Consol ConsolR R Cubs pf. ‘Textile ( 4119 1184119 + % 63% + % -¥ 115 115 -1 32 33 =2 14% - % 3% - % 29 6% — 6% 53 + 18% — 6% — 39% + 2% 18%¢ 14w 43% Snecsmon e OO RRO RO ASN - BEEE FEEEEE SEFEFEEFE ¥ @ - 8 59% 20s 128 b 56% 2 28% 11 187% 9T 99% 164 T+ 01 1++1+ ++++100++11 FE I OFELE F FEF F FEF FlH+ 1+ +++ R Y 1 & 9% 36 44 100s 109% 9 a 25 32% 110s 130 10 20% 16 19% 108 1121y 1 & =6 9 S o S0 et b B b B ++++++.I_‘ ++++|:“ ++ 1+ ::‘++l‘f+l I++1++1 1 4 2E ssessf seEss s 8 vEs2ea¥s ERFES 1 - 13% 121% 19% 19% DOI 88y 88% 4 11% 10% 11 308 110% 110% 110% — % 408 90 90 90 +1% 3 69 67 69 —% lDl 128 128 128 +1% 17% 17% 17% — % 103 103 + % 60% 60% +2% lOl 112% 112% 112% - % 19 4T% 45% 47“ +1% 10s 25 25 51 17% 1T% 11% + % 20s 101 101 101 +1 1 37% 3T% 3Th + % l, llB um 117% 1% FEFE2ER BPRFE EFF 167% Curtis Publishing.. 99% Curtis Pub pf (7)... 43% Cutler-Hammer t1. 52 Deere&Co._____. 19% Delsel-Wem-G (1) 36% Delaware & Hudson 147 Del Lack & West._. 4% Den&Rlio GW pf (d) 153 128 Detroit Edison (t4) 11% 4 Det& Mackinac.__. 13 Det & Mackinac pf_. 30% Diamond Mteh 1% 18% Dist Corp Seag Ltd. 41% Dome Mines (13)__ 50% Douglass Atrcraft 29 Dresser Mfg(A)al 13 Dresser Mfg(B) al_ 8% Duluth 88 Atl___.. 4% Dunhill Internatl... 18% 13% Duplan Silk (1) 184% 133 Du Pont de N 26.10_ 115% 111% Duquesne Lt 1st (5) 9% 5% Eastern Roll Mills_. 186 156 Eastman Kod (15)_ 166 152 Eastman Kod pf(6). 40% 28% Eaton Mfg (2)___. 15% 5% Eitington-Schild 474 30% Elec Auto Lite 72.40 115 110% Elec Auto L pf (7). 10 Elec Boat (a80c 5% El & Mus Ind al8c.. 6% Elec Pw & Lt 29% Elec Pw & Lt $6 pf_ 32% Eleo Pw & Lt $7 pf_ 13 Elk Horn Coal (d).. 174 Elk Horn C pf (d) 223 El Paso Nat G(1.60) 53% Endicott-John (3) . T2 Eng Public Service. 5% Bquit Office Ba20c.. 11 ErteRR _ 16 Erte RR1st Bf - 234 Evans Product(t1). 4% Exchange Buffet._ 2% Fairbanks Co_ 813 Fairbanks Co p 34% Fairb’ks-Morse(t1) 31% Fajardo Sugar (2).. 7% Federal Mot Tr 40c. 3 Fed Screw Works 214 Fed Water Sve (A). 201, Fed'd Dept St a1.60. 106% Fedtd D Scupf 4% 38 Fid Phoe F 1 (11.20) 20Y% Fiiene's Sons t1.60_ 247 Firestone T & R (2) 100% Firestone pf A (6)_ 40 First Nat Strs 2} 30% Flintk Co (1) 3% Follansbee Bro: ) 32 Food Machine (1).. 244 Foster-Wheeler____ 95% Foster-Wheeler pf 301 Fourth NatIa2.35_ 2315 Freeport-Texas (1) 135 108 Freeport-Tex pf(6) 53! 311 Fuller Co2d of_ 3% Gabriel Co (A).. 1113 Gamewell Co 16% Gar Wood Ind l.):-c 42% Gen Am Trans (a3). 10% Gen Baking (rloe)- 7 Gen Bronz 5% Gen Cable 17 GenCable A —— 703 Gen Cable pf (37) 49 Gen Cigar (t4) 34'; Gen Electric (1) 33% Gen Foods 11.80) _. 7 Gen Gas & Elee (A) 14 GenG&E 6%cv DfA 123 116 Gen Mills pf (! 77 537 Gen Motors (a4 123% 118 Gen Motors pf (5).. 10% 5% Gen Outdoors Adv. 110 105 Gen Print Ink pf(6) 6% 314 Gen Pub Service.__ 2 32'3 Gen Ry Signal (1)_. 2 Gen Realty & Otil__ 26'% Gen Realty & 7" pf_. 33% Gen Refrac (a2%)- 321% Gen St! Casting pf 17 Gen Theatre E (a2) 13% Gillette Saf R (1) 70 Gillette S R pf (6)- 6% Gimbel Bros 39% Glidden Co (2) . 5244 Glidden cv pf(2%)- 37s Gobel (Adolf) _. 6% Goebel Brew (120¢) 13% Goodrich (B F) 74 Goodrich(BF)pf(5) 317% 21% Goodyear 1 & R 10314 102% Goody r T&R nf (5) 114 87 Goodyear $7 pf (4). 14% 8% Gotham Silk Hose._. 961% 77 Goth Silk H pf (7)-. 4% 2 Graham-Paige. ... 1% Granby (24 stpd).._. 3% Grand Union ctfs__. 16 Grand Un pf (31%) 24% Granite City 8tl (1) 281 Grant(W T)(71.40). 32Y% Grt Northern pf_. . 31 Grt West Sug (3.40) 22 Green (H L)Co(t1) 65 Greene Cananea (3) 15% Greyhound (180¢c) n. 1% Guantanamo Sugar 24 Guantanamo Sug pf 9% Gulf Mobile & N___. 28% Gulf States Ste - 6 Hall(WF)Printing. 14 Hamilton Wateh _. 30% Harb-Walker (12)-. 4% Hayes Body 133 102 Hazel Atlas G (16). 21% 125% Hecker Prod (60c) . 164 150% Helme (G H) pf (7) 41 25% Hercules Mot (f1)_. 148 84 Hercules Powas%. 80 587% Hershey Choe (3). . 447% 30% Holland Fur (a1%). 116 108 Holland Fura pf(6) 33% 9 Holland&Son exrts. # i Holl&Son rts Dec28 42 19% Holly Sugar (12) 115 108 Holly Sugar pf (7)_ 33 22% Houd-Her (B) t1%. 54% House F'in A (13).. 6% Houston Of] vto. .. 48% Howe Sound (13) .. 3% Hudson & Manhat_. 8% Hudson & Man pf... 13% Hudson Motor Car. 1 Hupp Motors_ 18% [llinots Central. 30 _Illinois Cent pf (A) 58 I11Cent Ise lines (4) 4% Indian Refin (al1) . _. 25% Indu Rayon (11.68). 1&7 106 Ingersoli-Rand(12) 122 £8% InlandSteel (13)._—. 16% 6% inspiration Copper.. 65 InsSh Mdcfsa20c. 11% Inter Rap T vto (d). 215 Intercont! Rubber.. 9% Interiake iron ... 2% Int Agricultural._ 22% Int Agricul pr ul.)_ - s .53 BR=D SRR ND-E - CON AT 0N e 10% 2% int Hydro Elec (A). 8 4% Int Mercantile Mar. 66% 43% Int Nickel (21.30)__ 136 125% Int Nick(Can)pf(7) 22% 3% Int Paper & Pw (A) 18% 2% Int Paper & Pw (B) 6% 1% Int Paper & Pw (C) 97% 20% Int Paper.: Pwpf_. 48% 37 Intl Print Ink (2).. 19% int Rwy Cent A pf.. 23 Intl Salt (11%) 47 intShoe(13) _____ 11% Int Tel& Tel ... 10% Interstate D S af0a. 15 Intertype Corp (1) 24% Island Creek (2)_ .. 88 Johns-Manville({2) 5% Jon & L 1% vf 31% 39% Kalamazoo S (11).. 13 KansCity Southern 17 Kauf'nn DS 11.60__ 20 Kelsey-H (A)al1%. 18 Kelsey-H (B) 1% 25% 14% Keivinator (160c).. 283 Kennecott (a1.70)_. 17% Keystone S&W (3). 3% Kinney (G R) Co. 30 Kinney (GR) pf-. 4% Kresge Dept Strs.. 74% Kresge Dept Strs pt 20% Kresge (88) (11)_. Kroger GAB(11.60) [STPTOTS- 1S 141 190 - T = -4§~§.n==uhu.~ % - 39% 39% 39% 193 192 192 98% 98 8% 6 141 18% 324 22% 20% 21% 56% 19% 6% o = £ s 20% 19% 20% + % 114 114 14 + % ™% T % +1LLLI+0+1+4++) £ FEFFEEFE FETEF . o 1% b4 FELS 4+L+|+ +10 FE FES 3Lt L3 & ¥ + TEOFE 4+ & ERes $l+$+++|+ s2 s Prss ++ % & LR FRLEEE RERE F +ibtid FEFESPFES FE EFEFFEFES 98% +1 8% —1 6 61% +1% 133% -% 141 -1 130 128% 130 +2 48 48 48 18% - BE=gTogangsg LEEIHHED EsssEEL +1+ - 33 lflg% 104% Loew's Inc pf (635). 2 Loft Inc 35% Lone Star le(\‘z)- 3% Long Bell Lum (A). 21% Lorillard (P) $1.20_ 13 La Ofl Ref pf (4) - 20 Louisv G&EpfA 1% 57% Louis & Nash (a6)_. 22% Ludlum Steel (t1)_. 29 Mec Call Corp (12)-. 12% McCrory Stores 40% McGraw Elec (12).. 16 McGraw Hill Pub__ 38% Mclntyre Porcu (2) 8% McKesson & Rob . 11% McLellan Strs a20e. 27% Mack Trucks (11)_. 40% Macy (R H) Co (2). 8% Madison Sq G 60c_. 1% Manati Sugar (d) 7% Manati Sug pf (d).-. 7 Mandel Bros ... 13% Man El md gtd (d). 21 Maracaibo Oil Exn_ 8145 Marine Midl'd t40c_ 1% Market St Ry - 615 Market St Ry pf 2% Market St Ry 2d pt. 18% Market St Ry pr pf. 41 Marlin-Rock (12)__ 11% Marshall Field & Co 613 Martin Parry 2715 Mathieson Alk(1%) 43Y% May Dept Strs (3)... 13'3 Maytag Co (a50c).. 110'/, 103 Maytag 1st pf (6)_. 1045 13% 30% 12% Mead Corp 55% Melville Shoe (5) 67 Mengel Co 50 Mengel Co pf 5% Miami Copper. . . 17% Mid-Cont Pet a1.15. % 21% Midl'd Stl Prod(a4). 13115 110 Mid Stl 1st pf (8) 112 65 Minn-Hon Ros 11% 126 106% Minn-Hon R pf (6) 12% 81% b 6'a 64 Minn Moline Pwr 57% Minn-Moline pf(13) 214 M St P&S S M pf 2% M St P&SSMlisin 16% Mission Corp(adsc) 515 Mo Kans & Texas 1415 Mo Kan & Tex pf A. 2% Missouri Pacifictd) 3% Mo Pacific pf (d) 197 Mohawk Carp 11.20. 79 Monsanto Chem(71) 35% Montgom Ward(12) 6012 Morris&Essex (3% ) % Mother Lode a12i¢ 28% Motor Prod (12) 15% Motor Wheel (1.60). 11% Mullins Mf(B)as0c 44 Murphy G C (12) 14 Murray Corp (a30c) 15 Nash Motors (1) . 20%; NashvChat & St L. 1215 Natl Acme (a75c) - 915 Nat Aviation (al) .. 28% Nat Biscult (1.60) Natl Bond & Invest. Natl B& Inv pf ww. t Cash Reg (al)_ at Dairy Proal 4 Nat Dairy P pf B(7) 10 Nat Dept Stores 25% Nat Dist Prod (12). 28 Nat En & Stpg (2)- 26% Nat Lead (160¢) - 165 155 Nat Lead pf A (7)__ 147 120% 9% Nat Pwr & Lt (60c) 13 Nat Ry Mex 2d pf_. 57% Natl Steel (7212) _. t Supply pf 3312 7% Nat Tea (60c) = 10% Natomas (180c) __ 32 Neisner Bros (12) .. 9 Newp't Indusablc.. 3215 N Y Afrbrakea2% .. 27% N YCentral RR - 17% N Y Chicago & St L. 361, NYChi&StLpt 34 N Y Dock 10% N Y Dock pf 1 N Y Investors (d).. NYNB&H (@) _. NY NH & H pf (d)_ N Y Ontario & West N Y Rys pf (d) N Y Shipbullding - 931 N Y Steam 1st (7). 6% North Am Aviation 2314 North Am Co (t1)._ 237 Northern Pacific 2 Norwalk Tire&Rub. 12% Ohio Ol (a60c) . 241 Oliver Farm Equip. Omnibus Corp vte.. &l el 1, 24% Otis Elevator aT5c... 124 Otis Steer. 70 Otis Steel prof__ 164 128 Owens-I1GI (IG)_. 21% 40% 13 4% Pacific Coast 24 34 Pacific Finan {1.80_. 30% Pacific G & E (1%). 14% Pacific Mills (al1) ... 152 118 Pac Tel & TelegaT_ 152 140 Pacific T&T pf(6) .- 187% 13% 205 4% 4% 23 11% Pac West'n Oil a85c. 67 Packard Mot(ad5c) 12% Pan Am Petr (a60c) 1% Panhandle Pro & R. 1813 Panhandle P&R pf. Ti4 Paramount Plet_ . 59 Paramount 1st pf.. 2750s 8% Paramount P 2d pf_ 2% Park Utah = 40% Parke Davis a1%) 23 Parker Rust P t1%. 4% Parmelee Transp't. 6% Pathe Film Corp. 10% Patino Mine: 1% Peerless Mot 60 Penick & Ford (3)__ 69 Penney(J C) (I'I'A) 31 Penn Coal & Coke . 4% Penn Dixie Cement. 28% Penn Dixie Cpf A 28% Penma Railroad(a2) 38 Peoples Gas Chi 25% Pere Marquette €414 Pere Marq pr pf $20 12% Pet C'p of Am ad0c_ elps Dod 45% Phila Co 6% bt (3) 3% Phila Rap Tr (d)- 8% Phila Rap Tr pf (d) 1% Phila & Read C& 1. 66 Phillip Morris (3)_. 38% Phillips Pet (a23%). 70 Phoenix Hpf (3%). 8 PlerceOllpf . __.. 1% Plerce Petroleum.__. 28% Pillsbury FI (1. T4 Pitts Coal 49 Pitts Steel pf 1% Pitts Term Coal.... 2% Pitts United Corp... % 58% Pitts United Cpf._.. 21 Pitts& W Va. 1% Pittston Co 11% Plymouth Oil "1)_. Co(B). ... 404 122!6 116% Proc & Gam pt (5).. 50% 65% 24% 20% 19% 4% 80 681 Radio Corppt A3% x 10% 20 4 Experienced Advertisers Prefer The Star 39 PubSvoNJ (3.40)_ 36% Pullman Ine (1%)-. 16 Pure Ol 9% Purity Bakeries 408 16% Quaker Sta Ref 80c. 9% Radio Corp e 5 Radlo-Keith-Or (4) 11 R R Sec [1] Cent 80s 98% 65% Real Silk pf (310%) llfll 1% Rels mt) dmmman - +IL+ +1 FEE F EF P F EEFEF || - - ° AT NHNERTE D + 14+ [ o SR TN - © DTS e 2 0 e e - 10708 117 . 30108 26 Pac Am Fisher (1)- = 231 @ 69 +HE+ 4+ F FEFFES ¥ e e ERomrnOanHE Beorl AR EFERER EF FFREF FF FEFEFF 30% Seaboard Ofl (1) 59% Sears Roebuck (12) 2% Second Natl Invest. 15% Servel Inc (t1) - 20% Sharon Steel (a1.20) 89 Sharon St1 H pt (5). 4% Sharpe & Dohme 43% Sharp & Dpf (3%). 11% Shattuck F G(150c). 30% Sheaffer Pen (2) . 14% Shell Un Ofl (a25¢).- 4 110% Shell Un Ol ot 6% .. 125 50% 6% 31% 21% 1062 27% T4l 184 2T% 174 12 94 16% 38% 4% 8%, Silver King (60c) 19% Simmons Co (a3)... 3'z Simms Petrol. 19' Skelly O11 40% Smith (A O) 21 Snider Packini 12 Socony Vac Oil a70c 3% So Am G & P(a30c) 26 South Port S (12)._ 25 South Cal Ed (13%). 231 Southern Pacific __ 12% Southern Ratlway_. 19 Southern Ry pf. 6% Spalding (A G) 63% Spalding(AG)1st pf 5% Sparks- Withington 67 Spear & Co (a50¢) . 29% Spencer Kell (1.60). 15% Sperry C’p vte (al). 13% Spicer Mfg (a3) ___. 44 Spicer MIg pf (3) .. 63 Spiegel-May-S (3)_. 14% Stand Brands t80c_.. 913 Stand Com Tobacco 514 Stand Gas & El (d) - 915 Stand G&B $4 pf (d) 24% Stand G&E $6 pf(d) 26 Stand G&E 87 pf (d) 2 Stand Inv Corp..__ 35 Stand O of Cal (t1). 32% Stand Ofl of Pnd t1_ 51t Stand Ofl of N J (11 65 Sterling Prod 13.80. 16'4 Stew-Warner t50c_. 14% Stone & Webster 944 Studebaker Corp. 118 SunOilpf (6) __ 27 Superheatera82ie 3 Supertor O1l 9% Superior Steel 20% Swift & Co (11.20) . 2814 Swift Intl Ltd (2) 15 Symgton-Gould ww. 12% Symingtn Gould xw 6% Telautograph (60c) 5% Tennessee Cop al5c x 28% Texas Corp'n (11) 4% Texas Gulf Pr (a5e) 33 Tex Gulf Sul (12) __ 28 Texas& Pac RR 714 Tex Pac C & O a2be 9'¢ Texas P L T (al0c). 337 Thatcher Mfg (1) 8% The Fair . 85 The Fair pf (T) 815 Thermotd Co 24% Thomp Prod (a1%) 47 Thompson Starrett 26 Thompson Star pf 14% Tide W Asso O 80c 100% Tide Wat A O pf(6) 1214 Timken Detroft(t1) 56 Timken Roll B (12) 11 Transamerica t40 14% Trans&Wn Aira2ic 10% Transue&W (160c) T4 Tricontinental a50c 4% Truax-Tra C(a25c) T4 Truscon Steel 2214 20th Cent Fox (a2). 31% 20th Cent F pf 1% _ 8 TwinCity RT. ___ 65% Twin City R T of. 274 Ulen & Co T4% Und-Ell-Fish(a2%) 38'3 Union Bag&Pap (2) 718 Union Carb & C 3.20 3 20% Union Oil Calif (1) 149% | 100 32% 108:; Union Pacific (6) 90% Union Pacific pf (4) 20% Unit Aircraft a50c 13 United Air Line vte 1613 United Am Bosch . 241 United Bisc (1.60) 22% Unit-Carr Fast(12). 5% United Corp (a20c). 40% (Inited Corp pf 13) 10% United Drug (a75¢) 4 United Elec Coal 3214 Unit Eng & Fy (12). 66'; United Fruit (13)__ 14'» United Gas Imp (1) 6% United Paperboard. 2 U S Distributing. 10 U S Distributing pf 24% U S Freight (1) ___ 801 U S Gypsum (12) 160 U S Gypsum pf (7). 103% T9% 1548, 168 83 92 7 2% 2% 8% 48% 114% 105 11:00 A M._ nmam l’“‘ a3 d 1 mm l‘u m.m‘ “ ¥ R Seumuiated dividends. reported in M 873 U S Hoffman _ 49 US Hoffmanpf2%. 31% U S Indus Alcohol.. 43 U S Leather vtc_ 10% U 8 Leather A vte__ 214 US Pipe & Fy(1%). 7% U8 Realty & Imp_.. 16% U S Rubber . 47 U S Rubber 1 72% U S Smelting (210) 46% U 8 Steel 115% U S Steel pf (7) __. 160 U S Tobacco pf (7)- 5 United Stores (A) 57% Univ Leaf Tob (13) 3% Utll Pwr & Lt (A)_. 1 Vadsco Sales Corp.. 16% Vanadium Corp - 4 Va-Car Chemical._. 28% Va-Car Chem 6% pf 109 Va El-& Pwr pf (6) 4 Va Iron Coal&Coke 14 ValronC&Cof . 70 Vulcan Detin (a8)_. 5 Wabash pf A (4) _. 914 Waldorf Sys +1.20... 30 Walgreen Co (2)... 26% Walker (H) (2)._.. 17% Walker (H) of (1)~ 5% Walworth Co .. 214 Ward Baking B____ 9% Warner Bros Plet.. 4% Warren Bros = 15% Warren Bros cv pf_ 21 Warren Fdy&P(11) 614 Webster Eisenlohr. 1 Wells Fargo 33% Wesson O&S(150¢c). 91% West Pa Elec A (7) 87 West Pa Elec pf (6) 96 West Pa Elec pf (7) 8% Western Maryland.. 15 Western Md 2d pf__ 1% Western Pacific. .. 514 Western Pacific pf.. 72% West'n Union (a2)_ 34% West'h'se ABal%._ 941% Westh'se El (a5%)- 22% West'n El Inst a85c. 19% Westvaco Chlor (1) 21% Wheeling Steel 84 Wheeling St1pf 16 18% White Motor . 13% White Rk M S(1. 40) 3% White Sewing Mch. 2% Wilcox Oil & Gas... 6% Wilson & Co (60c)—. 44% Woolworth (2.40) . 23% Worthington Pump. 56 Worth Pump pf A 47 Worth Pumpof B_. 62% Wright Aero (al).. 33% Yale & Towne t60c.. 8% Yellow Tr & Coach. 2% Yellow T&C Dec 24 83% Yellow Tr&C pf $35. 42% Young Spr&W (13). 41% Youngs'tn Sheet&T 11% Zenith Radio 380,000 12 P.M.. 970.000 extras last vear d Oompanies XEx dividend. - © 0000190000 - S e Twd 2 208 54 94 2% 2008 162 2 48% 9 38% in the T mnt Mgl . Ralr-veariy deciarations. shares. t Anni FEFFE FFEFEF F& FF FEFT FEFEEE kL % The ing and LIVERPOOL. December & 6,000 Spot | done GBI e+ 4 _“. + o+ FEEE SEEERRELEE May July +110 o May 1+ July; 1+ 2++ +1+ 141. 9 80% 1 Th in receivershl 1929 high.. 1927 low .. moved With of New tional Allis-Chalmers. In a relatively restricted area we: General Motors, Montgomery Ward, Distillers, Consolidated Edison, North American, American Water Works, of New Jersey, United States Rubber, Goodrich, Anaconda, Southern Pacific, , | Peninsylvania, Loew's, Paramount and | International Telephone. | Both buying and selling of American stocks and bonds from European sources were said to be at a minimum. Sears July BALTIM No. 2. mestic, 434 4417 216 239 BY VICTOR EUBANK, Associatea Press Financia: Writer NEW YORK, December 8.—Rally- ing intervals were enjoyed by today's | stock market, but the list as a whole sluggishly on, the recovery volume exceptionally light, gains of fractions to a point or so | were shown by favored rails, steels, ‘ motors and specialties near the fourth hour. §5.1 56.1 us 16.9 146 l 153. X) 184.3157.7 516 953 618 61.8 (Comptled by the Associated Press.) Numerous issues, however, were Jersey, Nickel, General Electric Roebuck, National London market, however, —_— production of unable to get ahead to any noticeable extent. The market had the benefit of con- tinued hopeful industrial news, but traders were inclined to step softiy” | pending clarification of new rules ex- pected to be imposed by governmental authorities on stock exchange deal- ings, settlement of labor controversies, further assurance of forward Spring business trends and a little more ligh: |on the foreign scene. | Among the better performing shares were Santa Fe, New Southern Railway preferred, Bethle- hem, United States Steel, | United Aircraft, York Central Chrysl Douglas Aircraft, American Telephone, Western Union, Electric Power & Light, Public Service Kennecott, Interna- and Standard Oil im- proved as tension appeared to be les- sening over the “constitutional” crisis. NEW YORK COTTON B! the Associated Press. NEW YORK, December 8-—The Government cotton crop repert, show- 12,407,000 bales, compared with the November indica« tion of 12,400,000 bales, furnished no | surprise to the cotton trade today. Following its publication, trade and commission house buying rallied prices 13 to 19 points to new highs for the movement, but a partial reaction fole lowed under realizing. March advanced from 12.02 to 12.19 in midafternoon sold at 1211, Liverpool Quotations. bales. in bett including demanc hi o 5.00 Food_ordinar December May, .64 6.60; CHICAGO GRAIN By the Associated Press CHICAGO, December 8.—Late re- actions because of heavy selling to realize profits carried wheat down today below yesterday's finish. which represents the 1937 domestic crop, was inclined to drag on price bulges and rather easily led reactions. Very little was heard regarding new export Canadian wheat today. Wheat closed unsettied at the same as yesterday's finish to 3g lower. cember, 1.25%; May, 13-15g down, December, May new, and provisions unchanged to 15 cents advance. DVHEAT— Open. | at some stages to wheat, 1.2134-7 1.03%g-34; oats, CORN— Dec. 7D 1665 1675 Chicago Cash Wheat. Cash wheat, No. 1 hard, 1.29%> 3 mixed, 1.27%. 50'%a51; No. 2 white, Oats, with prices generally 10 to 13 points | net higher. #).—Cotto 4,400 Americ Juinaa0 prices well business in 1.083%- 1s-3% up, 186. 18. D ; No., Corn, No. 5 mixed, 1.02; No. 3 yellow, 1.07a1.08%; No. 4 yellow, 1.04a1.07%2: No. 3 white, 1.09a 1.09%2; No. 4 white, 1.08%. 1 white, No. 4 white, 48%a50%. No. 1 yellow, 141l2; No. 2 yellow, 141%al.41%; No. 3 yellow, 140%a No. 50; Soy beans, Barley feed, 60a88 nominal; Baltimore Quotations. e Winter " earlick: r. garlicky. spot. 15554} December. 1.58%, malting, 1.00al1.40 nominal. Timothy seed, 5.85a6.70 hundredweight; 5.65a5.85 hundredweight; clover seed, 24.00a31.00 hundredweight. new, —Wheat. do- PARKER PEN DECLARES 50-CENT EXTRA DIVIDEND By the Associated Press. CHICAGO, December 8.—Directors of the Parker -Pen Co. declared an extra dividend of 50 cents a share on the capital stock and approved a bonus K of approximately $45,000 for employes. * The extra dividend, payable Decem- ber 23 to stockholders of record De- cember 15, will make total payments for the year $1.80 & share.