Evening Star Newspaper, January 6, 1937, Page 16

FINANCIAL. BRANCH OFFICIALS New Richmond Chairman Announces Baltimore, Charlotte Directors. BY EDWARD C. STONE. Robert Lassiter, newly designated chairman of the Federal Reserve Bank of Richmond, announces appointment of Morton M. Prentis, president of the First Na- tional Bank, Bal- timore, 8s & director in the Baltimore branch for another three« year term, and appointment of B. M. Edwards, executive vice president of the South Carolina National Bank, at Columbia, as a director in the Charlotte branch, Charles Dawes. to serve for three years. The governors of the Federal Re- serve System, at the same time, have made these appointments for the Baltimore branch: Charles M. Mc- Cormick, president of McCormick & Co., Baltimore, for three years; w. Frank Thomas, construction engineer and real estate manager, Westminster, and W. Frank Roberts, president, Standard Gas Equipment Corp., Balti- more, to serve unexpired terms as directors. The Reserve Board governors have also appointed these directors in the Charlotte branch: Christie Benet, Columbia, S. C., business man, for a three-year term; George S. Harris, treasurer, Springs Cotton Mills, Lan- caster, S. C., and George M. Wright, president, Bepubhc Cotton Mills, Great Falls, 8. C., to serve unexpired terms. Dawes Sees Further Advances. Charles G. Dawes, chairman of the City National Bank & Trust Co., Chicago, and former Vice President of the United States, predicts that the country “will see greater activity this year and next year in the exchange of goods than we have ordmsnly been inclined to feel or believe.” Gen. Dawes has had such success n predicting economic advances that he has worked out a theory of his own and written a book on the subject. He stumbled on his method “by ac- cident,” he says, while studying previous depressions and recoveries. In each case he found that—with not more than 30 days’ difference—the stock market began a sustained rise in five and a half years after the initial collapse and that revival in the de- mand for durable goods began in about five and three-quarters years. He asserted in Chicago the other day that economists have ignored the effects of mass behavior on the part of the public. Business men, too, have been remiss in not attaching due weight to the importance of the pent- up demand for goods by the populace during lean years. He has also found that business men display better judg- ment in adversity than in prosperous times. Taxes Cut Telephone Income. Operating revenues of the Chesa- peake & Potomac Telephone Co. in the first 11 months of 1936 totaled $9,681,- 630 in comparison with $9,193.469 in the previous year, a gain of $488,161. Operating expenses, according to the report filed with the Public Utilities ©€ommission, called for $6,890,848, against $6,511,659 in the like period in 1935, an increase in operating costs of $379,189, leaving net operating reve- nues at $2,790,782, against $2,681.810 & year ago, or an increase of $108,972. Taxes required $804,193 in the 11 months under review, compared with $676,031 a year ago, an increase of $128,162. This brought net operating income down to $1,986,589, in compari- son with the substantial figure of $2,005776 in 1935, making a small drop of $19,190. In November alone operating reve- tues were up $45,349 and operating expenses increased $29,473. Net oper- ating revenue totaled $250,522, a gain of more than $15,000 over November, 1935. Taxes required $69,720, leaving & net operating income of $180,802, against $175,100 a year ago, an increase of $5,702. Recovery Aids Auto Club. An increase of 113.7 per cent in the membership of the Keystone Au- tomobile Club was registered during the year 1936, it was announced to- day by George E. Keneipp, manager. “The remarkable gain achieved by Keystone last year provides an ac- curate index of the sound and sub- stantial economic situation prevail- ing in the National Capital,” Mr. Keneipp said. The trend of enroll- ments has shown an accelerated ad- vance during the past two months. Rogers Joins Berkshire Staff. Ralph M. Rogers, former Washing- tonian, has been appointed produc- tion manager for this city and Vir- ginia of the Berkshire Life Insurance Co., General Agent J. E. McCombs announced today. He has been with the Penn Mutual for more than six years in Philadelphia. A graduate ‘of Central High School, he was con- mected with the Federal Government tere for several years. He served on the White House staff for two years during the Wilson ad- ministration and later was engaged in the organization of fleld offices and personnel as special representative of John B. Dinsmore, former director general of the United States Employ- ment Service. All directors of the Firemen's In- surance Co. of Washington and Georgetown were re-elected at the an- nual meeting of stockholders. They are Edward C. Baltz, Millard T. Dixon, Raymond K. Espey, Leroy Gaddis, Parke A. Galleher, William M. Hoff- man, J. Logan Hopkins, Albert W. Howard, Charles H. Kindle, John H. Bnyder, Schuyler 8. Symons, Albert W. Walker and James M. Woodward. Bank Elections Next Tuesday. All the national banks in the city and several trust companies and sav- ings banks will hold their annual meet- ings next Tuesday. So far as an- nounced, there will be comparatively few changes in directors. No doubt a few new directors will be elected and vacancies filled which may have oc- cured during the past year. Capital Transit stock climbed up to 15 on the Washington Stock Exchange today, after opening at 14%. Wood- ward & Lothrop common moved at 78 for 73 shares and Mergenthaler Lino- type was strong at 54. In the bond division Capital Traction 5s were strong at 941>. Other bid and asked prices were practically unchanged. The Interstate Commerce Commis- sion has authorized the Western Mary- land Railway to issue $1,590,000 of 21 per cent equipment trust certi- ficates, series F, to be sold at 101.41 and accrued dividends to Stroud & Oo. of Philadelphia in connection with equipment o Er! 115 107% Bucyrus-Erie pf(7) 101 ll.'i 16 THE EVENING te Wire Direct to The Star. 2:16 p.m. 1036 8tock and Sales— Low. Dividend Rate. Add 00. 59 AcmeSteel (4) ___. 1 9% Adams Exp (as5c). b8 17% Adams Millis(a1%) 22% Address'graph( 1) 1% Advance Rumiey ... 58 Afr Reduction (11). 2 Alr-Way Elec Applt 13 Alaska Jun (160c). 2% Alleg Corp () ... 12% Alleg pf w3s0w (4) 27 Alleg pr of (d) 40% 26% Alleg Steel (ll 65) us 157 Allled Chem (6) 32 108% 2 831 7 40 1 69 508 141% 6 11874 1172 19 59" 2 95% 3 3 h Am Ag Ch (Del) ai_ Am Bank Note (t1). Am Brake Sh (12) .. Am Brake S pf 53 - AmCan (14) __. 162% Am Can pf (7)..... 30 Am Car & Foundry. 57% Am Car & Fdrv of 31 Am Chain&Cab(a4). T% Am Colortype 20% Am Comel Al (a0¢) 16% Am Crystal S(asc) 31 Am Encaustic 9% Am European Sec__ 6% Am & Foreign Pwr. 25 Am & For Pw $6 ptf. 20% Am & For Pw 87 pf.’ 12 Am & For Pw 2d pf. 13 Am Hawalian (1).. 4% Am Hide & Leather 31% Am Hide & L pf (3) 37 Am Home P (12.40). 16% Am Ice pf (2) 9% Am Intrnat’} (a40c) 28% Am Locomutive 66 Am Locomo pf ($3). 21 Am Mach&Fdv(tl) 16 10 Am Mach & Met 60c. 3 27 Am Metal 8 35'4 Am News (NY) (3) i 7la Am Power & Light. 835 36% Am Pwr&Ltpf (6). 33 43 AmPwr&lLtpf (6). 10 27% 18% Am Radiator(t60c). 42 165% 157 Am Radiator pf (7). 108 37 23% Am Roll M (11.20). 41 39% 31 AmSafRazor (12). 2 28% 18 Am Seating(azi).. 4 45% 26% Am Shipbldg (2) . 240s 103 56% Am Smelt&Ref (3). 13 108% 104 Am Sm&Refpf (6)- 1 731 57% AmSnuft(t3)_____ 5 145% 133% Am Snuft pf (6, 108 64 20% Am Steel Fdry (a1) 30 36 24% Am Stores (2).. 1 63% 48% Am Sugar (2). 2 26% 20% Am Sumatra Tob 1 1 190'a 149% Am Tel & Teleg (9). 11 1023 87 Am Tobacco (6)._.. 2 104 88!5 Am Tobacco B (). 10 150 136 Am Tobacco pf (6)- 1 18 8% Am Type Founders. 19 2% 19% Am Wat Wksad4lc_. 67 108% 92% Am WaL W 1st (6).. 2 1112 7% Am Woolen 18 70% 52% Am Woolen pf (34). 21 2 % Am Writ Paper (d) 2 10 4% Am Writ Pap pf (d) 3 7% 3% Am Zinc & Lead 10 55% 28 Anaconda Cop ('l). 101 8913 35 Anaconda Wirc t2_. 5 26% 15% Anchor Cap (60c) 1 184 50 37 Archer-Dan-M (12). 1 424 110% 105% Armour Del of (7) 1109 T% 4% Armour (1llinols) 205 8 128 104 Armour of Il pf(7) 1126 84 664 Arm'r(lll)pr pt (6) 8 85% 625% 47 Armstrong C'k 1% 4 61 18% 7' Arnold Const i50c 3. 277 12% Asso LI tioods 9 218 1i2 102 Assoc DG 1stpf(6) 1 98l 88l% 59 Atch To& S FeaZ. 29 131 107 90% Atch To&S Fenf(6) 1 101% 49 21% AtlCoastLine(al).. 6 46% 31% 11 AUGUIT& W Ind .. 2 26% 54% 13% Atl Gulf&WI pf(3) . 354 26% Atlantic Refin (11). 84 48 Atlas Powder (12) 131 112 Atlas Powder pf(5) 30% 14 Atlas Tack (a76c).. 54% 26% Auburn Auto 104 5% Austin Nichols T4 4% Aviation Coro (Del) 11% 2'3 Baldwin Loco (@) 947 29% Baldwin Loco pf(d) 9% 2% Baldwin Loasd(d). 261, 157 Baltimore & Ohfo__ 41% 21 Baltimore & Oh pf_. 3813 21 Barber Co (a75c) 28% 13% Barker HBrothers _ 28% 14% Barnsdall Oil (1) __. 224 16% Bayuk Cigars 175¢ 28% Beatrice Cream(t1) 105 Beatrice pf ww (5). 2% Beech Creek RR(2) 16% Helding-Hem (1) 32% 21% Bendix Aviat(al%) 25% 20 Beneficial L (bic, 179¢ 45% Bethlehem Stlalls. 16 Beth St16% pf(1)__ 115': 107% Bethlehe Stl pf(7)_. 23 Bigelow-San (t1)__ 1 18% Black & Decker 25¢ 11 14! Blaw-Knox (a80c).. 18 16% BoelngrAlrplane 4 40% Bohn Alum&Br (8) 6 80% Bon Ami (A) (a5)-- 508 39 Bon Ami (B) (a3).. 20s 25% Borden Co (160)... 13 64 Borg-Warner (4)__. 6 Boston & Maine ___ 12% Bridgp't Brass 1400 43% Briggs Mfg (12) 47 Briggs & Strat (3) 41 Bristol-Myers t2.40. 173 60! 100 3% 14% 21 30 9% 13t 8% 511 62 25% 19 6% 37 4T% 1758 14% 45% 17 24% 11% 53% 674 i 1% 34 257 164 33% 34 2315 43' 933 106t 65 145 64 256% 5512 23% 18419 95 97 147 17 26% 103 10% 67t 1 17 6% 534 90% u 82 1 166 K 17 44 7 10 1 3 18 9 2 108 130% 3 164 1 30 1 ™% 128 T 65 8% 86% T 21% 343, 38% 2613 30 184 2 25% 1 101% 308 41% 15 133% 19 26% 4 23% 38 5 2 19% 2 126% 64 34% 240 34 41% 893, 34 v 247 21% 8% Bucyru 9% Budd (E G) Mt 8%, Budd Wheel (a20c). 20% Bullard Co (al%).. 11% Bulova Watch 25 Burr Ad Mch(160¢). 214 Bush Terminal (d) . 7% Butler Bros (a60c). 29% Butler Brospf 1% _. 2% Butte Cop & Z(a5¢c). 16% Byers (A M) 541 Byers (A M) pf ___ 22 Byron Jackson t1.. 80% California Pack (2). % Callahan Zinc-Lead 6 Calumet & Hec a750 30 Campbell Wy (11) 10% Canada Dry G A.. 10% Canadian Pacitie._. 37 Cunnn Mills (a4) . 6% Carriers & Gen (30¢c 92% Case (4 1) Co (4) .. 54% Caterpillar Trac 2. 213 Celanese Corpall _ us 106 Celof AmprpfA7. 19 Celotex Corp - 54 Celotex Corp pf 5. 808 26% Cent Aguire (11%). 2 6% Central Foundry Co 128 25 Central RROTNJ 3 38% 22% Central Violeta Sus. 4 23% 614 Century Rib Milis 2 114 97% Century R M pt (7). 40s 109% 4T% Cerro de Pasco (4) 23 124 8% Certain-teed Prod.. 54 16% 5715 Certain-teed pf (6) 3108 69 19 Champ Pap & § 11) 2 36 101 Champ Paper pf(6) 20s 110% 22'% Checker Cab Mfg .. 1 41 59 Chesapeake Corp(3) 1 85 51 Ches & Ohlo (12.80). 15 66% 1% Ch) & East i1l (d) _ 1 24 27% Chi & East 111 pf(d) 8% 1% Chi Grt West (d) . 2% 4 ChiGrt Wpf (d)._. 26% Ch1 Mai) Ord(t13). 11 Chi M1) St P&P (d). 2% Cht M St P&P pf (4) 2% Ch1 &N W (). 6% Chi1 & N W of « - 12 Chi Pneumatic Tool 40% Chi Pn Tool pf $3%. 1% Chi R 1&Pac «d) 3% Chi RI&P 6% pf 1d) 3% Chi R thc‘li of(d) li'A 85'/: 59% 34 ° 16% 33% 654 29% 8815 12% 10 36% 4 12 2 29 1 6 3 26 2 508 1 4 28 56 7 37 13 lZ 3 87 3 27% 394 80% 36% 9% 85% Chfllllt cnmmz) 15% City ice & Fuel (2) 2 194 2% City Mfl %) 110- 85% 4% City 8 9% 23% Clark lfllllp('l.“). l 33% 83 ClevGraph Br(2) . . 2 36% % 48 Cluett Peabody (3). 11 844 . 40s 128 21% 13 Colgate P-P (t50¢). 106% 100 Colgate-P-2 pf (6). 66% 39% Collins & AIK 3 .. 28% Colo Fuel & Iron... 2 46 21 Colo & Southern 1208 22 19% Coio & Soutb st pf 208 24% 14 ColumbG & 0c 104 19'( 90% Col G & E pfA 80% Co) G & B pf (b 31 Colum Pict vte 94 Colum Carb ste(t4) 44 Comel Credit (74)-. B 3 68% 1 106% 106% 5 4 4% 4 45% 44y 445 43% 37 2304 30% 17 83% 7% 103% 83 39% 69 141% 1184 172 59 95% 72% 14 26% 29% 9 13 8 50 60 23% 18% 6% 37% 4T% 175 14% 447 17 241 110 52ta 674 124 681 81 26% 164 33% 3¢ 23% 42% 934 106'5 1 64 ‘145 61% 25% 55% 23% 183 941 96 147 17w 25% 102 10 65% 1% 6% 6% 5213 90 184 422 109 T3 126 8 61 152 218 98!y Ti% 101% 454 26% 130% 16 30 % a 8 86% The 2078 25% 1013 41 13 25'2 23% 4% 19% 126 1215 9%, 86% 26% 38% 80 10% 109 12 16% 67% 35% 110% 41 85 66'4 2% T 2% 14 30% 85 9% 33 6% 17 24% 111a 52v 1+ 1%+ - FEFE F & F& ¥ % % 3 146% 146 145 41+t +HE+ 4 122% — % 57 + 20% + 104% + 57% — 45% — 21% + 24% — 19 + 106% + 928 36% + 119 . +1! 61% 4 + ol ar e DR s e Ii++11 I+ €t [ FEEE SV 93 Low. 109 T 204 9% 17% 123, 1 -u. 1843 116 12% 185 115% | 49% | 364 105% 45 1% 4813 120 450 35% 110 FEIEr FEaE 118 35% 86l 3% 0 15% 116' 14% 4% 1% 6% 32 125% 1054 55 18% 9 21% 164 41 124 33% A2% 4% 33 ‘10% 18% 65 P 3 5% AT% 194 105% 10% 8 18% 663 23% 14% 84 98Y% 112 1% % FE SEEEFPEE 53% ¥ e 107 4 30% 4012 2f 2:18p.m. Stock and 55 Com'l Invest T (t4) 14% Come'l Solv (160c) - 2% Comw & Southern. . 59% Comw & Sou pf (3). 7 Conde Nast Pub 80% Congoleum N $1.60- 8 Consol Cigar 2% Con C pr of ww 634 27% Consol Ed N Y t2.__ 102 Consol Ed NY pr(6) 4'% Consol Film 15% Consol Film nl(l") 37 Consol Laundries_ 11% Consol Oil (80e) 5% ConsolR R Cuba pf. 1 Consol Textile (d) . 2 Cons Coel (Dsl)vte. 1214 Cons C (Del) of vte 15% Container Corp (1) 10% Contl Baking (A)._. 1% Contl Baking (B) 63% Cont'l Can (13) 17% Cont! Dia Fibr¢ 354 Contl Insur (11.60)- 2% (‘ontl Motors 2814 Contl Ol1 (Del)ally 256 Contl Steel Corp(1) 56% Corn Ex BK&TT (3) 63% Corn Prod Ref (13). 4 Coty ine e 24 Crane Co 35 Creamof Wh't (12) 15% Crosley Radloal¥ . 43% Crown C k& S (a4)_ 4614 Crwn C&S of ww 2% 44 Crown Ck pf xw 23 T4 Crown Zelleb’k vic 28 Crucible Steel 9515 Crucible St1pf $4%. 1% Cuba Co 9 CubaRRpf.. 6% Cuban-Am Suga: 35'3 Cudahy Pkg (2%).. 167% Curtis Publishing._. 9915 Curtis Pub of (7) __ 4 Curtiss Wright 10'% Curtiss-W (A) a50¢ 59 Cushmans pf (3%) 43'% Cutler-Hammer t1_ 7% Davega Stores (1) Davton P&L pf 4% . Deere & Co Deere & Co pf(1.40) Deisel-Wem-G (11) Delaware & Hudson Del Lack & West _ Den&Rlo GW pf (d) Det & Mackinac . Devoe & Rey (A) 13 Diamond Mteh 11% Dia Match pf 11% . Dist Corp Seag Ltd_ Distillers C'p pf(5)- Dome Mines (12) ... Douclass Afrcraft . Dresser Mfg(A)a3. Dresser Mfg(B) al. Dunnill Internat _. Du Pont de N a6.10_ Dugquesne Lt 1st (5) astern Roll Mills_ stman Kod (t5). 4 Eaton Mfg (12) .- Eitinglon Schild Elec Auto Lite 12.40 c Auto L pt (7). Elec Boat (a60c) .. El & Mus Ind al8c.. Slec Pw & Lt - Elec Pw & Lt 36 pf_ Elec Pw & Lt $7 pf_ Elec Stor Bata2¥ _. Elk Horn Coal (d) . 1% E)k Horn C pf (d) 223, K1 Paso Nat G(1.60) 53 Endicott-John (3) 712 Eng Fublic Service. 45'; Eng P S $5 pf (310). 5% Equit Office Ba20c. 11 “ErtleR R 16 52 27 19'g 367 147 4% 4 42 373 18% 9314 415 133 111 51 156 1 2 ans Product(t1). 4% Exchange Buffet 2% Fairbanks Co. 813 Fairbanks Co pf 34%, Fairb’ks-Morse(t1) 31% Kajardo Sugar (2).. 18% Federal Lt & Trac.. 37 Fed Min & Smelter. 73 Federal Mot Tr 40c. 3 Fed Screw Work: 215 Fed Water Sve ( 4 2013 Fed'd Dept S ral%) 105 Fedtd DScupf 4% 38 Fidel Phoe F 111.60 247 Firestone T & R (2) 10015 Firestone pf A (6)_ 3015 Flintkote Co (1).__ 374 Follansbee Bros (d) 32 Food Machine (1)_. 106 Food Mach pf(4%). 24}» Foster-Wheeler ._. Francisco Sugar . 2315 Freeport SulCo (1)~ 108 Freeport Sul pf (6) 31% Fuller Co2d of . 3% Gabriel Co (A)... 11% Gamewell Co 15% Gar Wood Ind 813 Gen Am Inv (a 10% Gen Baking (t60c)_ 421 Gen Am Trans'ta3_ 7 Gen Bronze 5% Gen Cable. 17 Gen Cable A 49 Gen Cigar (t4) 3415 Gen Electric (11)_ 33% Gen Foods 11.80) . 74 Gen Gas & Elec (A) 14 Gen G&E 6%cv DfA 58 Gen Mills (3) 537 Gen Motors (a4%)- 5% Gen Qutdoors Adv .. 18% Gen Outdoor Adv A. 38 Gen Print Ink (a3) . 105 Gen Print Ink pf(6) 3'4 Gen Pub s:nnu.. 32!3 Gen Ry Signal (1) 2 Gen Realty & Otll 334% Gen Refrac a3\ Bales— Dividend Rate. 4d4 00. High. 6 16 7% FEFFEE FrE EE0R TERETE Rheke % t+l+11+1+10 S5 FEFE F8OFF P44+ 4+4+ 4+ 14+ 4+ 4+ |+ 4+ Frsfes - I A NN S Tt & + . 3215 Gen St Casting pf 5508 17 Gen Theatre E (a2) 30% Gen Time Inv (1) .. 13 Gillette Saf R (1), 6% Gimbel Hros = 84 Gimbel Bros pf (6). 3915 Glidden Co (2) 52 Glidden cv pf(2%)- 3% Gobel (Adolf) 6% Goebel Brew (t20¢) 116 Gold Stock Tel(6) - 13% Goodrich (BF) (al) 74 Goodrich(BF)pf(5) 21% Goodyear T & R 100 Goody r T&R ot (5) 87 Goodyear $7 pf (4)- 814 Gotham Silk Hose 2 Graham-Paige 1% Granby Cons (new). 314 Grand Uulon ctfs 16 Grand Un pf (31%) 241 Graaite City Stl (1) 321 Grt Northen pf.. .. 16 Grt North'n Ore (1) 31 Grt Wt'n Sug t2.40- 22 Green (H L)Cott1). 14% Greyhound (180¢) - 1% Guantanamo Sugar. 24 Guantanamo Sug pt 9% Gulf Mobile & N 30% Gulf Mobile & N pf. 28% Gulf States Steel .__ 6 Hall(WF)Printing.- 14 Hamllton Waten 104 Hamilton W pf (6)_ 100 Hanna ¢M A) pf (§) 3014 Harb-Walker (12)_ 12 HatCorp of Am (A) 4% Hayes Bodv 12% Hecker Prod (60c) .- 150% Helme (G H) pf (1) 251 Hercules Mot (11) _. 108 Holland Fura pf(6) 9 Holland&Sens t50c. 19% Holly Sugar (t2) . 397 Houd-Hersh(A)2%. 22% Houd-Her (B) 11%. 54% House Fin new (t3) 66% House F'in pf(4.68)_ 6% Houston U1 vie 48% Howe Sound (13) .. 3% Hudson & Manhat__ 13% Hudson Motor Car. 1 Hupp Moiors 18% (llinots Central 4% Indian Refin (a1)_ 25% Indu Rayon (11.68 ¥8% I[nlandSteel (13) - 6% 1 5 (nsSh Mdcfsa20c. 10% Inter Rap T vte (d) “23% Intercontl Rubber.. 9% Interiake IroD ... 2% Int Agricuitural... 22% Int Agricu 160 int Bus Ma 56% Int Harvester 3%.. 2% int Hydro Elec (A) 4% Int Mercantile Mar. 10 (ntl Mining (a0c)- 43Y% Int Nickel (21.30) .. 3% Int Paper & Pw (A) 24 Int Paper & Pw (B) 1% Int Paper & Pw (C) 20% Int Paper .- Pw pf . 107 Int Print Ink pf(6) 3% Int Ry Cent Amer 3 Am vie 208 29 PR A % e e - wl 1t 47 Int Shoe (13)ee--o- 36 1 21 57 L4+t +4 00 FLELEEFEES 3 FF | 4+ i & F ElLH1E +4 FFEF - 14% 106 106 103 103 51% 51% 16% 16'% 6% 64 13% 13% 166 166 331% 33% 119% 118% 23% 234 42% 40% 46! 1188 ua 138 -1 11 104% 103 103% —1% 14 9% 9 9% + W % + % 18% +1% 62% — % 1% - % 12% ll% % G\fi 90% WK -1% 10- lll\i ull 111% + % 190s g\t l -% T 18% 62% 17% STAR, WASHINGTON, D. C. LASSITER NAMES TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE 1936 19% 3T%h 22% 93% 152 126% 133 50% 121 26 Low. 15 IntStiver. 50 Int Stlver pf ($4)-_. 11% Int Tel & Te 10% Interstate D S ab0c. 15 Intertype Corp (1). 581% Jowel Tea (14).._.. 88 Johns-Manvilla(12) 121% Johns-Manv of (7) 75% Jones&L 7% DL 13% 39% Kalamazoo 8 (11) 116 KC P&L 1st pf B(6) 13 KansCity Southern 19% Kans C 8 f (a1) 23% Kayser J&Co(al¥%) 19% Kelsey-H (A) al1%. 17% Kelsey-H (B) all4. 14% Keivinator (t60¢c)_. 28% Kennecott (a1.70)_ 17% Keystone S&W (2). 3% Kinney (G R) Co 4% Kre: 19% Kroger G&B(11.60) 20% Laclede (St L) 15% Lambert Co (3) ._._ 12 Lee Ruh&Tire(50c) 16% Leh Port Cmt 1% 94'% Lehigh Por C pt «4) 2 Lehigh Valley Coal 9% Lehigh Val Coal pf. 815 Lehigh Valley R R 12 Lehn & Tinkal% ._ 3714 Lerner Stores (+2)_ 4T% Libbey-Ow Gla3%. 7 Libby. McN& Lal. 25 Life Saver (11.60)_. e 97% Ligg&Myers B (14) 170% 23% 631% 55 46% 67 102% 35 134% 2314 10114 24% 49% 118% 14% 49% 21% 49% 65% 15% 57 9 35% . 20 160 Ligg&Myers pf (7). 19 Lily Tulip Cup t1% 25% Lima Locomotive.. 36 Link Belt (2) 3215 Liquid Carb (2.60) 43 Loew's Ino (12) 2 Lottine . - th Lone Star Cm 3 1 107 21% 140 13 Lorillard (P) 11.20 Lorillard (P) pf(7) La Ol Ref pf «d) Loulsv G&EDTA 13 Louis & Ludlum MacAnd & F pf (6)_ Mc Call Corp (12) McCrory Stores McCrory Strs pf(6). McGraw-Hill 12%c. Mecintyre Porcu (2) McKes Tin P(a53). McKesson & Rob McKess&Rob pf(3). McLellan Strs a20 Mack Trucks (t1) Macy (R H) Co(3)_ Madison Sq G 160c. Magma Copper (a3) Manati Sugar (d) .- Manati Sug pf (d) Man El md gid (d). Manhat Shirt (1)_.. ' Maracaiho Ol Exp_ Marine Midl'd t40c_ Market St Ry Market St Ry pt . .\larke( StRy 2d pf. Maranan Pieid & Co in Parry Masonite Corp (1). 2713 Mathleson Alk(1%) 43% May Dept Str (13) 135 Maytag Co (a50c) 128 Mead Corp Melville Shoe (15)-. 5714 22% 127% 29 38% 831 3% Mesta Mach a3% __. Miami Copper Mid-Cont Pet a1.16 21% Mid'ld Stl Prod (12) 65 Minn-Hon Ros 1% 614 Minn Moline Pwr 16% Mission Corp(a45e) Mo Kans & Texas Mo Kan & Tex pf A. Missouri Pacificid) Mo Pactficof (d) . 19% Mohawk Carp 11.20. 79 Monsanto Chem t1 35% Montgom Ward(t2) 1# Mnt Wrd rts Jan 29 41'3 Morrell ) & Co2 4v % Mother Lodeal2lc 28% Motor Prod (12) 15% Motor Wheel (1.60) 11% Mullins Mf\B)as0c s 44 Murphy G C(12) _. 374, 1072 32% 2 310t 144 35% 59 106% 102t: Murphy G C pf (5) - 14 Murray Corp (a50c) 15 Nash Kelvinator Cp 20% Nashv Chat & St L Acme (a75¢) Aviation (al) Biscult (1.60) Biscuit pf (1) 30-)\ t B'd & Invalll. 100 N B&IpfAww al.l5. 21% Nat Cash Reg (al) Dairy P pf A(7) Nat Dairy P pf B(7) Dept Stores Dist Prod (12)- 26% Nat Lead (t60e) .. T4's Nat Supply pf $3%- 7% Nat Tea (80c) . 10% Natomas (t80e) _ 10% New Orl T&M (d) 9 Newp't Indusaélc.. 82t N Y Alrbrake a2l .. 27% N Y Cenual R R 17% N Y Chicago & St L. 36'a NYChm&StLopt N ¥ Investors (d) 3 NYNH&B () .. % NY NH & H pt (d). 4 N YOntario & West 915 N Y Shipbuilding - 57 N Y Shipbidg pf (7) 93% N Y Steam 1st (7) . 1% Norfolk Southn (d). 210 Norfolk & W (18) _ 6% North Am Aviation. 23% North Am Co (t1).. 52% North Am Co pf (3) 98 North Am Ed pf(6) 237% Northern Pacifie _ 50 Northwest Tel (3) . 2 Norwalk Tire&Rub 12% Ohto Oi) (a60c) . 24% Oliver Farm Equip. 17 Omnibus Corp vte_. 8 Oppenheim Collins. 24% Otis Elevator a75c. 123 Otis Stees . - 13 Pac Am Fish (t1) 31 Pacific Coast.. 8% Pacific Coast 1 4% Pacific Coast 24 9% 30 Pacific Finan t1. 41 58% 4T% 152 162 23% 133 20% 4% 9% 25 22% 56% 25% Phelps 3% 66 30% Pac Gas & Elec (2). 44% Pac Lighting (3)_. 14% Pacific Mills (a1) 118 Pac Tel & Teleg a7. 140 Pacific T&T pf6) 11% Pac West'n Ofl aé5c 6% Packard Mot(a45c) 124 Pan Am Petr (a60c) 18% Panhandle P&R pf. 67 Paraffine Co (t2)... 7% Paramount Plet 59 ®ara Plc 1st pf (6)_ 8% Param’t 2d pf $60c.. 17% Park & Tilford (2)._. 2% Park Utan 40% Parke Davis (a1%). 23 Parker Rust Pt1%. 4% Parmeles Transp't. 6% Pathe Flm Corp 10% Patino Mines(t60c). 1% Peeriess Motor 60 Penick & Ford (t3). 69 Penney(J C) (a7%) 3% Penn Coai & Coke 4% Penn Dizie Cement 28% Penn Dizte Cof A 17 Penn G18'd c{s ab00 28% Pensa Railroad(a2) 30 Peoples Drug (t1).. 38 Peoples Gas Chi. 16 Pet Milk (11).. 12% Pet C'p of Am 10% Pfeifter Brow (1.30) Dodgealy . 8% Phila Rap Tr (d). 8% Phila Rap Tr pf (4) 1% Phila& Read C& 1. Phillip Morris (3).. 7% Phillips Jones .. . __ 68 Phillips Jns pf (7). 38% Phillips Pet (a2%). 70 Phoenix H pt (3%). 23% Pittsbursh Steel Co. 49 Pitte Steel pf..... 16 34% 30s 179 13 5 3 3 20s l’h HK 150 126 123 149 126 123 u- 1 3 3 6 13 34 35 32 1 ll‘ll& ll1% 26% 106% 173% 22 60 4708 3 10 4 53 2008 308 20s 308 70 908 28 . 12656 265 42 13% 13% 82 31% 30% 56 102% 2T% 52% 3% 1% 54% 18% 14% 3% 16% 21% 12% 26 23% 30% 35% 51!6 151% 151‘6 149 149 % 175% —2% 708 3 10 1 10s 45 108 13 1 27% 2% 308 104% 104% uvmunu. Mdfifl.m Low. monn. High. 3% +1% 9 +2% 124 34% +1% 20 87 - % 150 126 ns - * 117% + K 21 4+ % 25% + % 20% 17% = % 22% + % 614 — % 26% + % 106% — % 173% +2% 22 60 54% — 43% — 6514 — " % " W kel » U + FEFEEE EF FEF & TE F FIETHEFCPEFIEF PR R T o I 14 FEFEFEFEBIISTSOET FFEE B FEFEEPF F FF FFEFT rEL 265 - 13% + 314 + 56% + 102 - 27% + 521 3% + 18% + 55 + 18% + 14% + 37% + 16% — 21% FREFEFE PFFIF § FEFFEFE FET 394 —1 151% — % us 25% +2%% 10% + W 16 — % 60 —2% 76 +1% 24% — % 23 M+ 4% A% — % 43% 26% + % 6% — W 9% — % 15 4% + % 63 +1 9% —1% 5% + % 8% + % 67% +24% 22% + % 40 50% 51% +2 24% + % 1% - % 11% 5d% + % 6% — % 12 2% % + % 14% + % 8T% + % 51% +1 70 17 3% + % 30 +1 1% + % 13% 4+ W 27% — % 104% -1 A WEDNESDAY, JANUARY 6, 1937. 1938 Low. 1% Pitts Term Coal.... 14 Pitts Term Coal pt. 2% Pitts United Corp.. 583 Pitts United Cof__ 11% Plymouth Oil (1) 29% 12 Poor & Co (B). ... 4% Porto R Am Tob A_. 1% Forto R Am Tob B. 6% Posta) Tel&C p2 (4) 17% Pressed Steel Car.. 57% Press St12d pf 2% _. 40% Proctor & Gam t1% 39 PubSve NJ (12.40). 113 103% PubSve N J pf (8 130 113% PubSve NJ pf (6)_ 69% 36% Pullman Ine (1%).. 24% 16 Pure Ol 118 91% Pure Ol 6% pf.. 133% 103 Pure O11 8% pf 20% 9% Purity Bak (t40c).. 14% 9% RadioCorp . .. 80 681 Radio Corp f A 3% 5 Radio-Keith-Or (d) 11 R R Sec 11l Cent 28% Raybestos-M 1% 97 Real Silk Ho-uroy Stock and 4% 304% 9% 112% Rand Rm Rnd pf ww 4% 4% 1teo Motor Car. 92 RevereC& B pfs% 22% Reynolds Met (11) . 50 Revnolds Tob B 13) 1914 Ritter Dental (t1) .. 32 Roan Ante (11.12) . 74% Ruberoid Co (11) 5% Rutland RRpf. . 27 Safeway Stores(t3) 99 96 Safeway Strspf(5). 114 108 Safeway Strs pf (6) 114% 110% Safeway Strs pf (7) 50% 22 StJoseph Ld (al).. 3% 1' St L-San Fran (d) 2% St L-San Fr pf (4 7% St L Southw'n (d) 18 St L Sown pf (d) __ 4 374 Schenley Dist (13)_ Schenley D pf (514) 1% Schuite R Strs (d) T5% Schulte R S of «d “ Seaboard Air L «d). 2 Seaboard A L pf(d) 30% Seaboard O1l (1)... % 313 Seagrave Corp 59% Sears Roebuck (12) 14 Sears Rrts Jan 15 15% Servel Ine (11).___. 20% Sharon Steel (1.20) 89 Sharon Stl H pf (6). 4% Sharpe & Dohme . 11% Shattuck F G(150¢) 30% Sheaffer Pen (2) 14% Shell Un Ol (a25c)- 127'3102 Shell Un O1l pf 6% - 14'a 84 Silver King (60¢c)_. 4874 19% Simmons Co (a3) 313 Simms Petrol 1943 Skelly ON 54 Sloss-Sheffield Stl. 40'% Smith (A V) 21 Snider Packing 1213 Socony Vac O1l a70c lll uo Solvay Am pf (5%) 7% 3% So Am G & P(a3lc) 35!a 26 South Port S (12) 321 25 SouthCal EdisTll 47% 23'5 Southern Pacific. - 12% Southern Ratiway.- 19 Southern Ry pt 34 So Ry M&O ctfs (4) 631 Spalding(AG)ist pf 10115 SpangCh&Co pf $16 5% Sparks- Withingion 29% Spencer Kell ( % Sperry C'p vic 13% Spicer Mfg (a3) _ 63 Spiegel-May 8 (5) - 99 Spiegel-M-S pf 613 21% Square DCo (al%). 14% Stand Brands 180c_ 1207 Stand Brands pf(7) 9% Stand Com Tobacco 5! Stand Gas & E1 (d) 913 Stand G&E 34 pf (d) 24%, Stand G&E $6 pf(d) 26% Stand GEE 87 pf (4’ 2 Stand Inv Corp.... 35 Stand O of Cal (11) 32% Stand Ol of md 1. 51ta Stand Oll of NJ (11 24% Starrett (LS) 1.140. 65 Sterling Prod 13.80. 16% . Warner t50¢ l\ Bros (aZic) 145 Stone & Web (aZsc) 94a Studebaker Corp - 70 Sun O1l (t1) 27 Superheater (a%e¢) 3 Supertor Ol 9% Surperior Steel 23 Sutherind Pap 1 204 Swift & Co (11.20) _. 28% Swift Intl Ltd «2) 15 Symgton-Gould ww. 12% Symingtn Gould xw 6% Telautograph (60¢) 5% Tennessee Cop albe. 287 Texas LCorp'n (Y1) 4% Texas Gulf Pr (ae) 33 Tex Gulf Sul (12)__ 28 Texas& PacRR _. 715 Tex Pac C & O a25e. 9 Texas PL T (allc). 85 The Fair pf (1) - !5 Thermold Co 24% Thomp Prod (a1%) 8t Thomp'n (JR) t50c. 4’» Thompson Starrett 26 Thompson Star pf .. 14% Tide W Asso O at A Op. Detrott(t1) Roll B (12) 11 Transamerica t40c 147 Trans&Wn Aira2se 10% Transue&W (160c). T4 Tricontinental a30c. 93 Tri-Contl C ot (6) 4% Truax-Tra C(a25¢) 7% Truscon Steel 2215 20th Cent Fox F a2 31% 20th Cent F pf 1% 8% TwinCity RT - 65% TwinCRT pf 314 2% Ulen & Co 74% Und-Ell-Fish(a2%) 70 38 Unlon Bag&Pap (2) IDEK 71% Union Carb & C 3.20 20% Union Oil Calif (1)_ 169% 108% Union Pacific (6) _. 31% 22% Unton Tank C 1.20... 32% 20% Unit Aircraft a50c.. 22 13 Utd Air L (a20c) ... 374 16% United Am Bosch 33% 24% United Bisc (1.60). 117 111 United Bisc pf (7) 96% 68 United Carbon (13). 85% 22% Unit-Carr Fast(12). 9% 5% United Corp 0 48% 40% United Corp pt (3). 10% United Drug (a76c) 4 United Elec Coal 32% Unit Eng & Fy (12). 66% United Frult (13)... 14% United Gas lmp (1) Unit Paperboard (n, 10 U S Distributing bt 13 US& For'n Secur.. 91 US&ForSist(6). 24% U S Freight (t1)_. 80% U 8 Gypsum (12)... 8% U 8 Hoffman 49 U S Hoffman pf 3* 31% U S Indus Alcohol.. 435 U S Leather vtc 10% U S Leather A vic . 71 U S Leath prpf $4. 211 U S Pipe & Fy(1%4). T% U 8 Realty & Imp 16% U 8 Rubber.._. 47 U 8 Rubber 1st ptf. 72% U 8 Smelting (210) 685 U S Smelting pf 2% 46% U 8 Steel 154% 116% U 8 Steel pf (7) . 168 160 U S Tobacco pf (7). 8% 5 United Stores (A) 92 57% Univ Leaf Tob (13) 1 3% Utll Pwr & Lt (A). 1 Vadsco Sales Corp. 16% Vanmadium “orp 28% Van Raalte (aé%). 813 4 Va-Car Chemicai 28% Va-Car Chem 6% bt 114% 109 Va El-& Pwr pf (6) 18% 4 Va lron Coal&Coke. 4% Zk Wabasd (d) 10% 19 fli ‘Waldorf Sys t1.: 49% 26% Walker (H) (3) .. 20 17% Walker (H) pf (l)- 12% 'worth Co. 52 4% 105 18% 69 10% B 102% 234 Ward Baking'B 47% Ward Baking pf 17) 9 Warner Bros Pict 44 Warner Bros pic pt. % Warner-Quin (d).. 4% Warren Bros... .. 15% Warren Bros cv pf. 21 Warren Fady&P(11) 1&6 Waukesha Mot (1). l-lu_ Dividend Rate. Add 00. 3 208 o o o, oo cuBleane=Enga - Al Rece FINANC High. Low. Olose. on 3% 3% — 108 -1 1 EEE T A T S S i et et oe f"' 1 +1 +2 -3 3%+ % 26% 26% + V| - vs 26% + % 2T% +1% 8% IAL. STOCKS IRREGULAR INQUIET TRADING Activity Slows Down While Wall Street Awaits Roose- velt Message. Stock Averages tndust. Rifl. 0t ofk Net change. One. 11 +.2 1 Today, noon 95.0 514 698 Prev. day__. 95.0 51.2 69.7 Month ago. 96.0 51.7 706 Year ago._. 747 46.6 57.0 1936-7 high_ 99.3 53.7 728 1936-7 low.. 73.4 434 557 1935 high. 763 312 44.7 56.1 1935 low.. 495 185 216 348 1932 low.. 175 8.7 239 169 1929 high...146.9 153.9 184.3 157.7 1927 low.. 516 953 618 61.8 38.4 383 39.2 319 435 30.2 (Compiled by the Associated Press) BY VICTOR EUBANK, Associated Press Financiai Writer, | NEW YORK, January 6—Buyers were timid in today's stock market and prices shuffled along indecisively. ‘Traders were still under the epell of automobile strikes, although pros- pects brightened as Federal con- ciliators attempted to bring about a | settlement of the General Motors Corp. controversy. | The activity slowed appreciably near | the fourth hour while Wall Street awaited the contents of the Presi- | dent’'s mes<age to Congress. Steels and coppers exhibited a down- ward trend. A number of oils, rails and specialties edged forward. Among stocks down as much as a | point or so were United States Steel, * | Bethlehem, Anaconda, Miami, Kenne- % | cott. Deere, International Harvester, Johns-Manville, Du Pont, Westing- | house, Shell Union Oil, Montgomery y | Ward, North American and American ' Water Works. Pointing upward were Barnsdall, Seaboard Oil. Continental, Texas ‘Corp.. Public Service of N. J., Santa Union Pacific. American Locomo- n\o Westinghouse Air Brake, Ameri- 1 | can Car & Foundry, Green Co., Sears | Rocbuck. Armour & Co. Interna- % | tional Telephone, Consolidated Coal %! and Douglas Aircraft. Shifting a shade in either direction % | were General Motors, Chrysler, West- | ern Union, Consolidated Edison, N. | ¥. Central, Pennsylvania, Electric % | Power & Light, Southern Pacific and : | National Distillers. | NEW YORK COTTON BY the Associated Press. NEW YORK, January 6—Early b« | losses of 4 to 7 points in cotton today | under Wall Street liquidation met im- | proved trade buying and by midafter- 1; | noon the market had sold up to net | gains of 2 to 7 points. t, A better demand for cotton goods % | and a more hopeful view of the auto- + | mobile strike situation attracted buy- ing which carried March up from 12.27 n % L) ] 1 % % u Y At the beginning of the last hour t 12.35 and prices gen- erally were at or within a few points of the best thus far. Commodity Credit Corp. officials de= nied rumors that they were conteme plating barter agreements to dispose 1ol loan cotton abroad. Liverpool Quotations. LIVERPOOL. January 6 (. —Cotton. "Rmm bales: American nil midding. midcline’ ¢ g00d ordinar Futures _close March. 6.6 3: July | tober. 6.44 D‘Ctmhpr 6.40. New Orleans Prices. NEW ORLEANS. January # (P —The coiton market held barely steads at the opening today. Near months were un- changed and later options were off a few oints. Foreign markets were -as‘er. aipp'ng moderately on apprehension over the loan program for American cotton March opened at 1227, May at 12.14, | Julv at 1204 and October it 11 69. | * "With “the Government loan holdinzs § ion has oeen Aiscouraged or the l|mr being Reports from the spot centers said that lower grades were mmm( more freely in the past week or 10 da: Cottonseed _oil (\l(ure( ovensd steady. Rl T 11.090; May. ll 07b; July. 11.1%b, h—Bld CHICAGO GRAIN By the Associated Press. .| cHICAGO. January 6—Late reac- % | tions pulled all grain prices downward ' | today and more than wiped out gains. 15| Liberal country offerings of corn chmd as a drag on all cereals. May 1 | corn receded an extreme of 2!, cents under the day’s top level. 1s| At the close wheat was unchanged %|to 15 lower compared with yester~ :’.d-ys finish, May. 1.3134-%; July, .: 1.15%-1.16; corn, 3;-1% down, May, 1| eV, 1.09'5-1;: July, new, 1.05%; oats, “,.- > up, and provisions unchanged % to 7 cents off. WHEAT— Open Chicago Cash erket. Cash wheat, No. 2 hard, 141!3: No. 2 Northern, Spring. 1.40!3; weevily, 1.40; corn, No. 4 mixed, 1.09; No. 4 mixed, mainly white, 1.10% No. 3 yellow, 1.10'2a12!2; No. 4 yel~ low, 1.07%al1%s; No. 2 white, '1.13'2 a%; No. 4 white, 1.11a12; oats, No. 1. white, 55a56%; No. 2 white, 54%a 55 No. 3 white, 54'2; buckwheat, sample grade, 2.50; soy beans, No. 2 yellow, 15812259%; No. 4 yellow, 1.56; barley feed, 68a95, nominal; malting, 1.00a40, nominal; timothy seed, 5.8526.10; new, 5.60a85 hundred. weight; clover seed, 25.00a32.00 hun< dredweight. Winnipeg Prices. WINNIPEG. ? D EG. Janusry 6 (P.—Grain (). —Whea y. spot. domeltl& Green (H. L) Co.—December sales were up 18.2 per cent; 11 months up 14.7 per cent, t