Evening Star Newspaper, December 16, 1936, Page 23

FINANCLAL, STEEL INGOT RATE D. C, NESDAY, DECEMBER 16, 1936. EW YORK STOCK EXCHANGE 2:15 p.m. THE EVENING STAR. WASHINGTON, THERMOID ORDERS FINANCIAL Sales— CURBLISTTAKES |NEW YORK CURB MARKET “UNEVEN COURSE Newmont and Merchant Stores Prominent Among Day’s Losers. By the Associated Press. NEW YORK, December 16.—The Curb market presented a ragged front today. ? Gains of fractions to around 2 points were scored by Electric Bond & Share, International Petroleum, Atlantic Coast Line, Carnation, Draper Corp., Pantepec Oil, Pioncer Gold and Todd Shipyards. Newmont Mining fell about 3 points and Merchant Stqres was down around 2. Fractions to around a point lower were Aluminum Co., American Gas & Electric, Gulf Oil, Montgomery ‘Ward “A,” Sherwin-Williams and ‘Wayne Pump. $1.041.330 Earned _ By Florsheim Shoe For Fiscal Year B3 the Assoctated Press, NEW YORK, December 16.—Flor- sheim Shoe Co. reported for the fiscal year ended October 31 net profit of $1,041,330, equal under the participat- ing provisions of the shares to $2.60 a share on the class “A” stock and $1.30 a share on the class “B.” This com- °d with $591,349. or $1.48 a class share and 74 cents on class “B,” <n the preceding year. Alabam Pw 4l.s Alabama Fou i num Co El_Pow mat_ 6; &E Bs 2028 er P& L 6o wm, El Pw il Lanadian_Pe erolina P& 4 | Celluloid Corp pf L) » Stock and Sal Diviiend Rate. Add 00, Acme W vtc (2). b0s AeroSupplvyAl1%. 1 Aero Supply (B)—. 7 AgfaAnsco .. 1 AirInvestevpf 1 Ala Pwrpf (6) 50s Alabam Pw pf (7) 90« Allen [ndus (1) 6 Alum'n Coof Am 3008 Alum Am pf $113; 3008 Alum Good sad0c. 2 Alum'nLtd ... 8 Am Alrlines, Inc_. 14 Am Capital (B) 2 Am CitP&L Ba20c 7 Am Cynam B t60c 22 Am & For Pwww 11 Am Fork & H (1) 10 Am G&E (1.40) i Am Gen C’p (a50c) 19 Am Hard Rub(al) 50s Am Lau Mch t60¢ Am Lt&Tr (1.20) . Am Maracaibo __. Am Meter (a2%) _ Am Seal Kap a30c Am BuD!anle‘ - Anchor Post B ___ Angostura (20c) Apex Electric(al) Appalach E P pt 7 Arcturus Radio T. Ark Nai Gas Ark Nat Geupf.. Ark Nat Gas (A)_. Art Metal W t60c Ashland Oil & Ref Asso Gas & Elec_. Ass0G & E (A) Ass0G & E $5 pf.. Asso Rayon Atl Coast Fisher_. Atl Coast L a2 _. Atlas Corp ta80c) Atlas Corp war .. AtlasCpf A (3) Atlas Plywd a50c. Austin Silver Auto Products ___ Auto Vot M(t50¢) Ax-Fisher(3.20)A 50 Bab & Wila2.85 _ 2008 Baldw L bd rts(d) 100 Barium Stain Stl 8 Barlow&S(A)1.20 1008 Bellanca Aircraft 1 Bell Tell Pa pf 612 10s Berkey&Gay F Co 52 | Berk&GF pur war 15 Bickfords Tne 1.20 1 Bliss Co (E W) 3 Biue Ridze Callc 1 Blue itidgecvpf3 3 4 . | Blumenthal 8 | Bohack HC 1st pf 150 Botany Cons (d).. 2 Bourjois (a7dc) 3 Bower R B (a2 3 Bowman-Biltmore 2 Bowmn-Bilt 2d pf. 1 Pridzep't Mchal. 1 Brill Corp (A) 5 Brill Corp (B) 1 1 1 | Br-Am T B ay; | Brown Co pf 2508 Brown F & Wal5c 2 | Brown Forman __ 14 | Buckeye P L (3) _ b0s Buff N&E pf 1 0. 5 1268 mnnl_!})l ) 3 Cable El Prod vte_ Cable & Wire(A)_ le & Wire(B) Hydr E 1st pf indus Alco AL n ind Alco (B)._ | Can Marcont | Cartb Syndicate__ |farman&Co B __ | Carnation Co (1) . Carrier Corp atlin Corp (ad0c) 9 Celanese 1st pf(7) 1508 1608 luloid 1st pf {8 208 | Cen Hud G&E 8ve 1 | CentOhiostiar1c 5 By private wire direct to The Star C5mm, o £ "y00 104 Pitts Steel fis ‘4% Z105, Pow Set Corp 61 4 100 S N T4l E* 104 043, a1 104 EW a5 8 s Stand G & E Gis Toas Hlect gL &L erm s Toledo Ed Twin CR 5! £ Wise BaL 35 A FOREIGN BONDS. MB s - S 8%k a Bioedfadae 618 00 ww—With _ warrants, garrants. n--Ne wi—When st (sip)—Sta 1007 011 a0 xw—Without nt&S W Ut ates Elec.. 51 cv pf 51 6% pf | Centrif Pipe 140¢c | Chi Flex Shaft 72 { Chi Riv &M (f132) Tt | Childs Co nt Cities Service | Cities Service pf_. | Cities Svept B | Clt Sve P&L §6 pf lcuz,u: P&L §7 pf City Auto S(t60c) Claude Neon Lts_. Clev Tractor .. > | Club Aluminum Colon Dev Ltd _. Colon Dev 6% pf_. Colo Fuel&lr war. Coltsk FAT1Y 18 63 Ble 125+ 4 508 1 23 18 3 50s 50¢ 12 3z 2 Colum G&E pf(5) 535 Columb O& G a20c Com’'with kd (74) 4! Com'wlth & S war 120 3 93 Com'u’ty P&L 1st 1008 Community PS71 Compo Shoe M t1 Conmipo Shoe vie Cons Afrcraft ___ Consol Copper Cons Gas(B0)3.60 Cons Min&Sm 12 | Cons Royal (20c) Cont'l Roll & S Fy Contl Securities | Cook P & Var 160c Cooper Bessemer. Copper Range ___ Cord Corp | Corroon & Reyn Cosden Oil Me (d) Cosden(Me)pf(d) | Creole Pet (as0c)- “rocker-Wh alOc. | Croft Brewing | Crown Cent P a6ec. | Crown CIntl A 11. | Crown Drug (40c) stal Oil Ref___ Cuban Tob vtc _ Cuneo Press (2§ Cusi Mex Mining_. Darby Petr (50c)._ Davenport H (1)_. Dayton Rubber Dejay Stores 180¢ Dennison 7% pf__ Derby Oil & Ref Derby Oil&R pfi4 Det Pap Prod t2ic Det Stl Prod allz Distilled Liquors .. Dohler Die C (al). Domin S&C (B) _. | Dow Chem (2.40)_ Draper C (12.40) Dubelier Condens_ Duval Tex Saslc 2 10078 issued. bos 6 1 25 28¢ 4 2508 1 6 1008 1 40s 75 204 1 . 1 2 3 7 1 3 . 1 1 Stock and Godchaux § pe (i) eh. Low. Close, | Goldfield Consol - kt 4434 | Gorham (A) _ 21 | Gorham vtc ex(1). Grand Natl Films. Gr Rap Var(t60c) Gray Tel PS(1) 6 Grt Nor Pap (11).250s Greenfield T&D.. 4 Groc Store Prod.. 13 Guardian Invest ._ Gulf Ofl(Pa) (t1). Hall Lamp (80c).. 1 Hartman Tobacco. & Harvard Brewery. 1 HatCorp (B)_.__. 1 Hazeltine (a2%).. 3 Hecla Min (ag0c). 15 Helena Rubenst'n. 8 Hollinger G t65c . 7 Holt&Co ptA a20c. 1 Horn&Hard 11.60_ 768 Hudson BM&S (1) 9 Humble Oi1 (11) .. 13 Huyl pf stpd (d) .. 508 Hygrade Food Hygrade Sylv(t2) 100s 111 Pwr & Lt $6 pf 3008 | tmp Oil Ltd t50¢ 10 Ind'n Ter 1I1O(A) 1 Ind’n Ter INO(B) 2 Indus Finvte . _ 1 Indus Fin 7% pf 1008 Ins Coof NA (12) 100s IntlHy E1Scvpt 9 Int] Petr (11%)__. Intl Products. Intl Util (A) _ Intl Util (B) . Int) Vitamin (50c) Interst Ho M 12 Interst P(Del)pf Iron Firemen(t1).200s Irving AirCh (1). 1 Jacobs(FL)Co(1) 13 Jeanette Glad0c . b JersCen P&L pf 6. 60 Jer Cent Jonas & Naum 7 Jomes&Laugh StI- 8 Kans City PSvte. 11 Kan City PSpt A Ken RT&L A aToc Kingston Prod 40c 6 Kirby Petr (20¢) Klein (DE) (11) Knott Corp (ai0c) Kreuger Brew (1) Lake Sh M (t4) Lakey Fy & Mach_ Lefcourt Realty - Leh Coal&N a60c_ Leonard Oil 2 Lion Oil Ref (1)__ Locke Stl Ch 80c - Lockheed Aircraft Lone Star G a60c_ Long Island Ltg . 11 Long 1 Lpt A(T) 108 Long IsI Lt pf B6 25s Loudon Pk'n 150c. 4 La Land (40c) _. 16 McCord Rad (B) _ 33% | McWilliams D (12 421 | Mangel Stores 10% | Mangel 10 | Marion Steam Sh 461 | Masonite Corp(t1) 241 | Mass Util Associa 100 | Massey Harris 34 | Master Elec (al) 1 | Mem Nat Gaioe) 14 | Mercantile Stores i, | Merritt Chap & S | Merritt C&Spr A 258 Mesabi Iron 3 \etal Texile(40¢) Mex-Ohio Oil Mich Bumper C Mich Gas & Oil___ Mich Sugar pf ___ a Pet (A) Sta Pet (B) | Mid-Wabras 110¢ | MidI'd St! Prod(2) ! Midvalt Co (a3) 26s Minn Min&Mf(71)1258 Miss F pt (6) Mock Jud Voe 60c Moh H P&L Ist ohawk H 2d pf Molybdenum Corp Monroe L S(A)3Z¢ Mont Ward A (7) Montr HL1&P 113 Maore Dist ¢ | Moore D rts Dec Mortg B’k Am Sh . Alount Prod (60c). Muelier Brass t1 12 11 2 Nat Auto Fib t113 Nat Bella Hess Shiatl) t Fuel Gas (1) i 116} '\dt ervice pf *» | Nat Sugar N J 623 | Nat T $0% Nat Union Radio 174 | Neh Corp 1635 Neisner Br pf (7) 223 | Nelson(H) (atic) ~ 2 8% | Neptune M Aa6le 3 B8 8014 | New Erad Oal0e 31, | New Haven Clock 185 | N J Zine (72) 12 | Nev-Cal Kl pf(17) 201 | New M&A Ldale. 2613 | Newmont M a3 % 1134 | N ¥ & Hound (1) 100 435 | N Y Tel pf (615) 784 | Niag Hud Pw a40c 76 334 | Niag H P(A) war 10 33 |Niag HP (B) war 1 361 | Niag S Md Baste. 5 1334 | Nipissing (a50c) . 23 | Noma Elec (a40c) 14 10 435 | N A Rayon A t133 214 | NARayon Bt11z. 2 16 | N A Ray prpf (3). 1 5134 | North Am Ut Sec 1 NoCen Tex Oalie 2 North'n Europ Oil 37 . 16% ) Nor Ind P S pf (3)110s 147 | fl,’:: North States P A | North'st Enga134. 1 L™ Okla Nat GasCo_. 16 Oldetyme Distil._. 9 Overseas S (aslc) 4 Pac P & L pfal0is 40s Pac Public Service 2 Pac Tin spec (12) 4008 Pan Am Air (1) 2 Pantepec O1l 160 Pender Gro(B)ile 1 Peninsular Tel(1) 50s PacG&E1st (1%) 4, Dividend Rate. Add 00. High. Low.12:45. 10s 108}4 103} 10334 kel % " N Grt A&PT 18t pf 7 26s 127)¢ 38 9% % 3. % 7 108% 6 2 27§ 147 15% 1875 15 184 91 3835 Horn & Hardt pf 5 10s 108'; 343 5% 161 185 4% 3514 o'y 235 175 163§ 835 941y Lpf7 10s 101 95 508 11215 143, 4% 5 119 3014 508 118 163 5% ) 95)4 | Nor Ind PSpf 3% 1os 10134 10% 6 y 3154 304 6% 26'4 3i4 123 184 1| | 61 . 3284 | 915 75 { 14 2 | 11435 | 133 | SoCal Ed pt nf 1% 270s 3 ' 178 15 ag! | Stutz Motor 8| Talcott) pt pf 2% 25s g 57 | a7 .wr 49 4 5 ) 9514 | 10114 | 8714 | 27 1n=.l ber. January 2 to record December 22. i | Sterling Ine(ase) ped. Nezotiabilily impaired by maturity. $Companies reported in receivership. Eagle Pitch d af0c 114 Penn-Mex 1 64 East'n G&F Asso 1 7 4 5 East'n G&F pf(6) 100s Penn P& L (7) _. 1008 1104 East GRF ppf 4% 50s Penna Salt (14) _ 100s 1623 - FEDERAL LAND BANKS NEW YORK. December 16 (#.—Federal Land Bank bonds s November - 1067, 101 East'n States Pwr East'n St Pw (B)_ kasy W M B t50c.. Kdison Bros t1.60. Eisler Elee (abc). Elec Bond & Share Elec B& Sof (5).. Elec B& S pf (6) . Elec P&L opt war 35 1 3 1 4 192 3 5 14 Elec P&L 2d pf A 530s Elec Shareholding 4 Elec Sh pf ww (6) 60« Emp G&F 6% pf . 26s Emp G&F 7% pf 3508 Penn Wat&P (4). 1 Phillips Pk a50c_ Phoenix Secur Phoenix S pf A(3) Pie Bakeries 11.60 Piedm’t & Nor (3) Pierce Gov (a3bc) Pines Wintfrt(n) Pion’r GM Ltd 80c Pitney Bowes 40c_ Pittsbgh Forging.- Pitts& LE 2% _ 308 Potrero Sugar 30 Pwr C'p(Can)a2ie 160s 90 INITIAL DIVIDEN Quarterly Rate of 75 Cents Declared on Convertible Preferred Stock. BY the Associated Press. NEW YORK, December 16.—Ther- moid Co. of Trenton, N. J., announced today an initial quarterly dividend of 75 cents on its new convertible pre- ferred stock, payable December 28 to stock of record December 21, A special dividend of one share of com- mon stock was voted as part payment on accumulated dividends on the old 7 per cent preferred, which is ex- changeable for the new. Butte Copper & Zine. Butte Copper & Zinc Co. declared a dividend of 5 cents on common stock, payable December 28 to stock of record December 22, marking the first distribution since 1929, when 50 cents was paid. Bankers' Securities. Bankers' Securities Corp., Philadel- phia, declared a dividend of $1 on ac- count of arrears on participating pre- ferred stock, payable December 23 to stock of record December 19. Bancamerica-Blalr. Bancamerica-Blair Corp., New York security underwriting concern, an- nounced an extra dividend of $1.25 a common share would be paid December 26 together with a semi-annual divi- dend of 25 cents. Shareholders of rec- ord December 18 will be recipients. . Parke Davis & Co. Parke Davis & Co., makers and dis- tributors of pharmaceuticals, operating | throughout the country and abroad. announced a dividend of 60 cents a share on the common stock. A divi- dend of 40 cents was paid in Septem- | The latest payment will be made INEW YORK BANK STOCKS GAIN DURING WEEK | Special Dispatch to The Star. NEW YORK, December 16.—New ! York City bank stocks recovered dur- ing the last week to close at moder- ately higher levels, according to rec- ords compiled by Hoit, Rose & Tros- ter. The ageregate market value of 16 | leading issues on December 11 amounted to $1,852.350,000 compared with $1.832.182,000 at the close of the previous week, an increase of $20.-| 168.000, or 1.10 per cent. The current average yield of the 16 issues of 3.55 per cent, compares with a yield of 359 per cent on Decem- | |per 4. The current market value is | now 1.39 times the known book value. —————————— Stock and Sales— Dividend Rate Add 00 | St Regis Paper 65 St Regls Paper pt 752 Savov Oil Schiff (The)Co(13) H ar Schulte REd) - 2 R Secur Corp Gen K 3 o | Sexal Lock & H _. 10 21 Seiberling Rubber 33 5 6 Selected Indus 95 9 o Sel Ind all cfs 5% 200r = Seton Leath a50d 2 1.»- versky Afreraft 33 5 den Min 21 nug awin W &P 60c 2 Sherwin-Will (4) 25Cs 138% 137 Sonotone C (al0c) 3 2 1% | So Penn Oll(t135) 2 424 424 38lg 1s~“ u' sRYg 281 5 Soknlhdnffllh 8 175 pen Chain St 60c Stand Brewing s . ‘!and(‘&%‘z(fl B0s 9 9 Stand [nv cum pf 100s % Std Oil Ky (11.40) 1¢ 1944 and O Neb a2, 1 1% Stand Oil Ohjo 71. 12 a7 Stand Oil Oh pf 5. Tos 10635 1064 Stand Pwr& Lt _. 48 Stand P& L (B) 17 Stand Sil&Ld (4¢) 19 arrett Corp vtc | Sterchi Brosa3ec Sterling BraZic _ Stetson (J B) Stinnes(Huzo) d Stroock & Co(213) 508 23 Sunray Oil (al0e) 18 Sunshine Min (3) 14 Swiss-Am Elec pf 200s Taggart Corp 29 Zi Zfl'. u13§ 134 653 Tampa El (2.24) _ 1 38 Tastyeast(Del)A. 5 Tavlor Dist (30¢). 3 Technicolor as0c . 15 Tech Hughes t40c 4 Tenn Products 14 Texon Oil & L 60c 1 Thew Shovel a50c 5758 Tilo Roof «t50c) 1 Tob Prod Exp lac 17 | Todd Shipyd (12)_ 50s | Tonopah Helmonl ‘Tonopah Min aéc . Tr-Lux DPS t20c_ Tri-Contl C war _ Tubize Chati (A) . | Pung-Sol Lamp n Tung-S L pf (80c) Twin-Coach al.40 Unexcelled Mfg GasCan a22%e¢ Unit Ch¥mical Unit Corp war Unit Gas Corp .. 384 Unit Gas C war | Unit Gaspf(13%) 1 | Unit G&E pf (7) -~ 108 Unit Lt & Pw (A). 40 Unit Lt & Pw pf 10 Unit Prof Shaloc 4 Unit Shipyds B 21 Unit Shoe M 123 1508 Unit S M pf (1%) M- U S Finishing .. U S Foil B (60c) ... 12 U S & Intl Secur - US&Int Sec 1st $5 U S Lines pf - U1 S Radiator U S Radiator pf__. U S Rub Reclaim_ N 2:16 p.m. Prev. 1936 Stock und Bigh. Low. Dividend Rate. 481 33% Wesson O&S(160¢) 107 91% 116% 111% West Pa Pwr pf (6) 12415 116% West Pa Pwr pf (7) 12! 814 Western Maryland._ 1% Western Pacific .. 5} Western Pacific pf.. 72% West'n Union (a2). 34% West'h'se ABal%. 94 Westh'se El (a5% ) 22% West'n El Inst a86c. 81% Westvaco 5%0pf 1% 21% Wheel Steel (16) __ 84 Wheeling Stl pf(16) 18% White Motor 13% White Rk M 8(1.40) 3% White Sewing Mch._ 16 White Sew Mcb pf_. 2% Wilcox Ofl & Gas... 1 6% Wilson & Co (60¢)- (Continued From Twenty-second Page.) Net Add 00. High. Low. Close. Chge. 36 48% 47 Pa Blec A (1) x !0- l(’)g‘/fi Prev. 1026 484 +1% 100% — % 115 122 42 - % In 6% — % 824 + % AT 410 | 48 — % 100% 114% 122 9 2% 33% Yale & T including extras o Paid last vear reorganized. 8% Loomis May Retire To Become Chief Of Lehigh Board By the Associated Press. NEW YORK, December 16.—In valedictory as president of the Lehigh Valley Railroad system, railroads were in the strongest position in five years, but warned they were not vet “out of the woods.” In the course of a year end chat with time, Loomis revealed he was consider- | ing relinquishing the presidency and becoming chairman of the board, which would be a new office. The change, he emphasized, would not be because he was tired, but merely to be relieved of some details of man- agement. | It was intimated D. J. Kerr would likely be chosen president. Kerr’s pres- | ent title is assistant to the president. 'DEMAND IS STRONG FOR U. S. OFFERING Oversubscription of 6.5 Times on | 17-Year Bonds Bared by Morgenthau. Bt the Associated Press Secretary Morgenthau reported last night that $4.951,668,000 of subscrip- tions were received for a $700,000,000 | cash offering of 2'» per cent 17-year | bonds, or an oversubscription of 6.5 times. In addition, the Treasury chief said all except about $28.600.000 of $786,- 651,000 in maturing notes were ex- | changed for new Treasury bonds or notes. In the December financing Morgen- thau offered note holders their choice of the 2!, per cent bonds or m'e-yeur{ 1', per cent Treasury notes. | Exercising his authority to increase | the $700,000.000 cash offering, Mor- genthau allotted a total of $751.436.750 of the 2!, per cent bonds, exclusive of exchange allotments. Part of the proceeds will be used to | retire notes not exchanged for new | obligations; about $322,000,000 will go |!o bolster the Treasury’s supply of cash, and $400.000.000 will be used 1{0{ retirement of a like amount of | maturing bills, Most of the note holders chose to | exchange their holdings for the new bonds Bond exchange allotments ¥ | aggregated $551.212.700. and note ex- change allotments, "‘06 795,200, | INVESTING COMPANIES NEW YORK. December 16 (¥ .—New ! York Security Dealers Assotéanon 1 { Admin fd 2d_Inc Am Business Shrs Am Gen Eq Inc.. ‘ Am Ins 8focks Bancamer Blair | Bank Group Shrs ikers Nat Tnv Cor Asked ic Ind | Brom St In\ Bullock Pund Corporate Tr: Corporate, Trust AA | Corp Tr AA m Corp Tr e i | First Boston Corp Fixed Trust Sh A Fixed Trust 8h B { Found Tr Sh A Fund Investors In | Fund Tr Shrs A.. { Fund Tr Shrs B | Gen Investors Tr ___~ Group Sec Aariculture Group Sec_Automobile Group Sec Building__ _ | Group Sec Chemical” Sec Food = Sec Invest Shrs Sec Merchandtse Tncorp Investors ___ Insurance Group Shrs. Investors Fd C Inc, Keyston Cust Fund B-3 Nation Wide Voting___ N Y Bk Tr Shrs North Am Bond Tr cif; Nor'Ain Tr Shares SHORT-TERM SECURITIES. (Reported by Chas. D. Barnes & Co) a” Asked. Amer. Tel. & Tel. 5's 1943 A"l‘;‘u; nkencflm dbl l”‘" Sal, Fagt. Sete o ke, talk which may have constituted his | Edward E. | Loomis said yesterday the Nation's | reporters, a custom observed for a long | 5 | “I believe firmly that today there is " | ends. open mug pack eenerally, sooc qual- | 40 ,'C lorads CAUTION URGED BY EXCHANGE CHIEF Gay Expresses Concern | Over Activity of So-Called ! Cheap Stocks. | BY the Associated Press. | NEW YORK, December 16 —Charles R. Gay, president of the New York | Stock Exchange, yesterday expressed “grave concern” over recent increas- | ingly heavy trading in low-priced shares. In an interview, Gay said: “It's not my place to say whether | the market is too high or too low— | that's for buyers and sellers of stocks to decide for themselves—and the | Exchange is only the meeting place for orders. “But I don't like the looks of the recent flurry in stocks selling at a few dollars a share—that kind of | activity in ‘penny’ stocks may mean that the uninformed person is coming ! | into the market—and that's a matter | for concern.” “We all remember what the littie | fellow did in 1929. Without studying | | stock values, he took the bit in his teeth and. with a good many trad- |a ers with large resources, ran away with | the market. “Over the past 18 months or so, the stock market has gone ahead almost entirely under steam of cash pur- chases—and a lot of this buying seems to have come from investors who have | & carefully looked into companies they | were putting their money in,” he added. OIL LEADERS HAIL BRIGHT OUTLOOK ! Heavy Demand for Refined Prod- ucts, Especially Gasoline, Proves Surprise to Industry. B the Associatea Press. TULSA. Okla., December 16 —In the face of a daily crude oil production | unparalleled in the industry, leaders in | the oil business carried on cheerfully | today and insisted everything was, TOsy. | The daily production of 3.119.500 barrels computed by the American Petroleum Institute for the week ended December 12 was a new all-time high. | | In previous years such production | would have brought urgent pleas for immediate curtailment. But oil men rather were prone to dismiss the production figure as some- | thing to be expected. The sustained heavy demand for re- fined products, particularly ga.sclmc had some quarters gasping. “Tiere has been no sign of a sea- sonal let-up,” said one authonty. ‘Sometimes I just wonder where all| the gasoline we are making is going. | _ | The retailers ask for more and more | | and we've got to keep running to sup- | | ply them. | less than 18 cays’ supply of gasoline in | storage in the midcontinent. The de- ]mmd comes out of the great Midwest, | which uses up 80 per cent of the re-| fined products of this area. Gasoline actually is scarce.” | P i CHICAGO PRODUCE. CHICAGO. December 16 () —Poultrs live. 38 unset fens. 413 {pounds up, 1573 less' than 413 pounds, | %" Leshorn ‘hens. 103, Springs 4 paunm b 5 14! "Plymoutn Rock. | Rock. 15 less than 4 pounds. Plymouth Rock. 14 trucks = White | ;" colored broilers 15. Plymouth 5 pLeshom chickens. - 14; small white | Northern _geese. 13 | (‘lDOT\( 17ald | hens. voung, nxv nnunda e | pounds up. and colored. Southern geese. Dressed il tons youn( 5. firm. prices unchanged. | “steady: extra firsts. cars and | a: fresh graded firsts, cars and local, 3K: current receipts. refrigera- for exiraa 27%: refriserator standsrds, | ~"Potatoes. 61: on track. 220: total United | States shipments. 690: steady: supplies | rather light: demand slow: sacked. per In hundredweight; Idaho Russet Burba x 1 U 1.9 Vi oractically free from cuts and clibped 166 lo Red McClures, U “Wisconsin Round Whites. v0" ‘Minnesota Cobblers U No. d partly | Futures: Idaho Russets, March, grade A, 3.10. CHICAGO LIVE STOCK CHICAGO. December 16 (@ (U partment of Agriculture).—Hogs including 8.000 direct: slow. mostly”10a 190-300 150-180 under few rraded January, De- " o000 op. chorce: -able 9.60: and 0 0.3588 85 Tove mostly 8.000: trade more ~active all interests in market: calves. 1.500: general receipts smaller and steers and year- . upturn erasing and weights an steady: cows steady to strong and vealers barely ‘steady: best yearling steers. this price paid for prime 9 62% Wright Aero (al) 8% Yellow Tr & Coach . 2% Yellow T&C Dec 24 42% Young Spr&W (13) 41% Younge'tn Sheet&T 11% Zenith Radio 5% Zonite Products. Approximate Sales of Stocks on the N. !.smmmn 1 | Aetna Ins (1.60) Bales— Nev 'Add 00. High. Low. Close. Chge. 1 % 9% — ‘A 1 FPITREEFE F§F ‘owne 160c_ 9% 36% 13 L. 8 T+t ++4+ 1+ 570.000 1.170.000 12:00 Noon.. 2:00 P.M. . 920,000 -1.410,000 Dividend rates as given in the above lable are ihe annus) csan payments basen on the latest quarterly or half-yearty declarations s Unit of tracmng iess than 100 shares. 3 Accumulated dividends. d Comparnies reported in receivership or being x Ex dividend. t Annua) rate—not a Pald .his year Loree Quits Post With Kansas City Southern Railway By the Assoclated Press. NEW YORK, December 16.—Leonor F. Loree, railroad leader for more than a score of years, resigned today as | chairman of the Kansas City South- ern Railway Co. Kenneth D. Steere will succeed him as chairman. The changes become effective December 31. Steere is a partner in the banking firm of Paine Webber & Co. Leree, who is also president and chairman of the Executive Committee | of the Delaware & Hudson Co., en- tered his railroad career as an en- gineer’s assistant at $35 a month. Well-informed Wall Street and rail- road circles were inclined to believe that his desire to devote more time to ' “other interests” might mean in- creased participation in the affairs of the New York Central Railroad, of which Delaware & Hudson Co. is a substantial shareholder. INSURANCE STOCKS NEW December 16 York Becurity Dealers’ Assoclation Bid 1047, P .—New Aetna Cas (2a) _ Acked Aetna Life Ko Equit (1a) Ins Newark i'a Gen Lif (A0) _ [ Continent Cas 1) e s e Homestead (1) 3! <hire (1 60) N Y Fire 1 foas Nor River (%0a) aAlso extra or extras. HITS 79 PER CENT Present Activity Expected to Hold for Several Weeks at Least. BY the Associated Press. NEW YORK, December 16.—Under extreme pressure to get out tremen= dous tonnages booked in the last few weeks, steel mills have increased op- erations in every possible way, caus- ing a rise in the average ingot output for the country to 79 per cent, Iron Age said today in its review of the industry. “Although the present rate un- doubtedly will continue for several weeks at least,” the review said, “fur- ther expansion of production will be hindered by shortages that exist, prin- | cipally in coke, pig iron and raw steel. | “Coke shortage will be a deterrent to further pig iron production, and there is fear that some active blast furnaces may be forced to go out soon | for relining. “Buying has subsided principally in those products no longer obtainable at fourth-quarter prices, such as sheets, strip and wire products, while in plates and shapes the protection of the low ’ price to December 31 on pending con- struction projects, including rail- road equipment, is bringing rising sales totals on those products. Mean- while, some consumers, including au- tomobile manufacturers who did not secure enough sheets at the old prices, have bought for February shipment at the new prices.” DIVIDENDS ANNOUNCED NEW YORK. December 16.—Dividend eclared (prepared by the Standard 8ta- tics Corp.): Stk_of Pay- Pender (D) te Copper & Zinc une Meter A v pref , Hoffman Machh “Tob. wemkarten® i Do NEW YORK BANK STOCKS NEW YORK December 16 (7 —New York Security De s’ Association (Quotations as of 2 o'clock ) Ban| Cen Hnn Bk & ha e Nat (140 Chem BK & Tr (180 Eommercial ( = Cont Bk & Tr ‘Tfiu FOREIGN MARKETS. LONDOX December 18 (# —Proftt tzk- n late k :xc‘unc' n tene'a]]\ eas today’ howev T the Gav Sithougn tracine war on Industrials held steady sues eased. whil edged securities re- mained quiet. Tobacco and steel shares met with » falr demand PARIS—After earlv frregularity prices turned heavy in the Bourse today Rentes closed anged to 50 lower and Bank of Prance shares showed a net loss of 70 francs. Royal Dutch aiso decliner. | Bit tniernational jssues were firm. Raf- road stocks became irregular foliowing 8 month €194 unien E et Receipts seal year (since July — . | D S84 854 expendturec TAX COLLECTIONS GAIN. i of umr.mr"f“e’e'n"r?ev:'r * Income tax collections between De- cember 1 and December 15, the Treas- ury reported today, totaled $245421.- 651, compared with $216,421,651 in the | same period last year. \ | | A T trans-Atlantic is- | U.s. TREASURY POSITION. &3 the Associated Press. The posiuon of the Treasurs on D=- Rec: 382 85 ex- i 017 “batance. ST i 450,16 rL~lon.~ receipts for the s11 FAILURES TOTAL DOWN. NEW YORK, December 16 (#).— Business failures during the week ended December 10 numbered 154. | compared with 162 in the week pre: ceding and 235 a year ago, Dun & | Bradstreet reported 5 Y2% FIRST MORTGAGE NOTES ELECTED properties and conservative ap- praisals combine to make these First Mort- gage Notes on Chevy Chase homes one of the highest class offerings we have ever sponsored. Gu"‘ e i ,1u AR1055.76., NEW YORK BAR SILVER. NEW YORK, December 1§ (P).— Bar silver easy. '« lower at 45. % For Safety of Principal % For Assurance of Income * * Denominations from $250 Up 1505 H St. N.W. National 2345 Members of Washington Real Estate Board U S Stores Unit Stores vtc .. Unit Verde Ex (1) Unit Wall Paper... - *cnrn( cl&c Simvenana F. &1 58 Dela. & Hu S d. Co. 5 ferings: several loads. ings up 00 1.59 ¥ 14360-1.500 pound and feeders weak: bulls. rs mostly 10.50 down: 5las 1939 Univ Pictures lnd 4";5 1941 Utah Apex UtahP&Lpf32.91% llll Utilities Pw & Lt 8 Utl) Pwr & Lt pf. 2004 Utility Equities 2 Utility Eq pf (a7) 2:2- eep. 10.000. includis lnfim!};'ovenh’;‘*;lc- er: sl £.50a8.75 on hllld! lnd mec hi X FREIGHT LOADINGS. NEW YORK December 16 (#.—Reve- nue freight carloadings on railroads re- ing today for week ended December 12 Tuded: Emsco Derrick t1 2 Equity Corp(a2sc) 46 Europ'n Elbdrts. 6 Evans Wall Lead 8 Evans Wall L pf 150s Ex-C-O A&T té0c. 19 Falstaff Br (a1%) 1 Fanny F C (150c). 1 Ferro Enamta3).. 2 Fidello Brewery . 3 Fire As(Phila.)t2 4vs Fisk Rubber Fisk Rub pf (6. FlaP&Lpf Ford Ltd al181-10¢c Kord (Can) A (1) Franklin Ray aé0c Froedt't cv pf 1.20 Gen Alloys - Gen El Ltd a56%¢c Gen Firepr'f t40c. Gen Invest Corp Gen Outdoor pf 16 Gen Tele C'p a1.35 Gen Tire & Rub . Gen T&R pf A (8) 70 Georgia Pw pf (6) 1768 Gilh'((AC)lfl‘&c o Gilbert(AC)pf 31, 40s Glen Alden C (1) 12 Powdrell&Al t60e 11 Premier Gold t12¢ 12 Pressed Met (t2)_ 3 Producers Royal . 80 Propper-MeC (d) . 6 Prosperity Ba2sc 3 Prov Gas (80c) 350s Prudent’l Invatsc 1 Util & Ind (néw) . I’b Sv N I11(np) 123008 Utllity & [ndus pt 10 Pub Sve Ind prpt _10s Venezuela Mex O. 16 i lsjl Sec pr pf 3608 Venezuela Petrol. ¢ ug Sd P&L pf(5) 25s 88l Walil o i1 Pug Sd P&L 36 pf 475+ Wm"&&s‘:.:d(:) 1 Pyrene Mfz(ad0c) 2 8% Walker Mining 1 Quaker Oats pf(6) 30s 151 W-yno Pump (50¢ 1: Ry & Lt Seca1.55 200s 23% Wentw'th Mf 1.20 Rainbow Lum (A) 2 114 Westn AlrBxazic 4 Ratnbow Lum (B) . & 3¢ West Au Sup A 14 4008 Raym'd Con pf(3) 25s 39 W'n Tab&Sta (1) et Bt 17% Will 011-0-M r:p: 4 Reed R Bnew 180« 2 321§ Wil-low Caf Reiter-Foster . 1 Wil-low Cafe pf ... 1 Wilson Jon a3 nn Creamery. higher than ex: it e Wolverine T t40c. a8 ..'w/. cxiran (B score)” ST Arats Richm'd Radiator. 9 Woodley Pet t40c. m) BTTaas2ta; centralised (90 sc0re). Root Petrolm(1).. 15 Wrixht Harg 1400 33 it s e ke Roosevelt Field .. 1: ;“nunk T:"xma ;v! u: 2 H ly an on Gold(a: 288 fin Russek 5th Av(1) 3c) szo 285; frmer. Mixed colors, re- Rustless [r&sSt]l . 31 Otvidend rates In tors, - 14 g?%.flm?" 'lg fll‘“& eofir:/'gsb 26 1. e 26s 115 115 115 -" - I ?‘ Satets ChL (14). 25e e i&w m—-fl,:‘ fim flx -rueh N St Anthony Gold ' '..-.:fs A CHRISTMAS PRESENT LT TO YOURSELF U. S. TREASURY NOTES. (Reported by Chas. D. Barney & Co.) A safe deposit box would make a splendid present to e Tl o i yourself. It would be, in effect, your personal treasure . chest wherein you could keep your valuables and important papers. Put your own name on your Christmas list—and opposite it write: safe deposit box. McLachlen Banking Corporation Since 1891 TENTH AND G STREETS N.W. S.W. Branch, 12th and Maryland Ave. S.W. Member Federal Deposit Insurance Corporation Week ~Previous Last Dec, 1 week. year. 7.50. Pennsylvania o New York Central Pitts. & Lake Erie Illlnnls Gentral & Ohi Nol’lolk & Wesl n ;g.._ MY k%% gL y'loa7 New 6rx Dock 5 nns - N.'Y. Sus. & We. 5s 103 ' I Xss5ecREze, LA 3z wy. Co. g, Bros. 63 1930 Rt Wettern Unios Tei. B 1634 108 m YORK PRODUCE. OI.K December 16 (h-—Butter. FOREIGN EXCHANGES. NEW YORK, December 16 (7. exchance stendy. (érenl Britain in ggm‘n" : = it b bt 235355252535, 222222828 2 1 Brazil. nam.m * ol fonskans. :m' York | in Ionmu. DD 7 lominal, " 5: 390k *Sntimon ‘wolframite m ‘! IR, A