Evening Star Newspaper, January 14, 1937, Page 21

F LOW-YIELD BONDS FF MODERATELY Signs of Firmer Money Rates Are Watched—U. S. Issues Gain. IN Bond Averages Rxlls Indnst Uul Plfl Net Chance. +.1 —.1 +.3 Today, noon 98.7104.0 102 'I '13 7 Prev. day-_- 98.6104.1102.6 734 Month ago_- 97.7104.1102.3 71.7 Year ago--- 90.5103.5101.2 70.5 '36-37 high. 98.6104.4103.1 738 1936-7 low.. 86.9101.8 99.3 67.6 1935 high... 87.8102.2 99.8 704 1935 low.... 764 922 845 655 1932 low-... 45.8 40.0 646 422 1928 high__.101.1 98.9 102.9 100.5 10 Low-Yield Bonds. Prev. day- 113.4 Year ago-1109 1936-7 low 110.2 1935 low.. 107.9 1932 low.. 8638 Month ago 113.3 '36-37 high 113.7 1935 high. 1107 1928 high. 1044 (Compiled by the Associated Press.) By the Assoctated Press. NEW YORK, January 14—Low- yield corporate liens showed a moder- ate downward slant in today's bond market as investment circles con- tinued to scrutinize the credit horizon for further signs of hardening in money rates. In contrast, United States Govern- ments recorded a little progress in the early dealings in the face of Wash- ington advices quoting Secretary Morgenthau to the effect that the trend of bankers’ bill rates has a bear- ing on Government securities and the general money situation. Bill rates ‘were advanced 1/16 of 1 per cent yes- terday, and investment circles viewed the revision as another straw point- ing to a rise in the cost of short-term funds. Speculative sections took their cue from the action of the share list, and in a few industrial convertibles sub- stantial gains were established. Low yielders offered down frac | tionally included National Dairy 33ss, Pacific Gas 3%;s, Texas Corp. 3! nd Union Pacific 3'2s. i @NCIAL. By private wire direct to The Star. TREASUR Y Higl 101, 106.26 104,10 10811 103.6 104.19 104.16 107.21 106,24 108.16 108.18 108, 108.31 . 107.3 108.6 - 109,30 118.21 114.27 2345 1949-53 23,81945-47 23,2 1948-51... 23 1951-54 2% 8195659 —mmm 2745 1955-60 ____ 2%s 1955-60 reg. 38 1946-48 38 1951-55 _ 3148 1946-49 3148 1949-52 31 s 1941 31,8 1944-46 103.f 108.1 104.17 104.16 107.17 106.20 108.12 108.13 108, 108.:8 1078 1063 1083 1086 109,27 109.27 11821 118.2L 114.24 11425 4%,8-3151943-45 108,26 108.26 108.26 4% 81947-52 120,28 120.28 120.28 FEDERAL FARM MORTGAGE. 23,5 194247 1043 1048 1043 381947 . 105,13 1069 105,18 3s1949_ 105,11 1069 105.11 HOME OWNERS' LOAN. 2145194244 102.24 10222 102.24 235 1939-49 102,29 102.26 102,27 351952 - 10431 104.26 104.31 FOREIGN BONDS. Abitibl Pag&Pw 53753 . 9814 Agr Mtg Bk Col 63 '48_ Akershus 5s ‘63 Antioquia T Antioguia 7 Antioquia 7s *45 C_. Antioquia 7s°45 D Antloquia 1st 7857 _ Antioquia 2d 78’57 new Antioquia 3d - Antwerp 65’58 _ Argentine %48 '62_. Argentine 6: Argentine Argenti Argentine 63 °60 May. Argentine 6s 60 Oct ._ Argentine 6561 Febr_ Argentine 65 '61 May._ Australi Australia 5 Australia Austrian7s ‘57 _. Belgium 68 '35 Belgium 616s "4 10834 Belgium 78 55_ 185 Berlin 6s 58 1934 Berlin 635 1934 Brazil 6 iy d“y i 534 6615 1024 338 1943-47 3% 81946-56 reg_ 43 1944-54 981 263 E) 17 954 1023 § 10975 108% 10044 106 Brazil 8541 Breda Ernesto 7s Brisbane 5s°58 _ Budapest 6s 62 unmat coupon op .. Buenos Aires 4%8-3%8" 7T Py____ Buenos Aires 4% 5-455'76 April . Buenos A 41;5°76 Aug Buenos A C 6345 '55 DIVIDENDS ANNOUNCED | NEW YORK. January 14-—Dividends @eclared (prepared by the Standard Sta- tistics Corp ) Resumed. Stock of Pleasant Valley Wine Accumula Kentuck Ut 7% ir pt Increased. Driver Harris Duquesne Brew Will'mantic Co. Dis Corp Seag 5, pf $1.25 Wentworth MIg cv pf 1% Regula | Capital Manag, Corp Crown Drug 7 pf 5 ¢ Ut 3.50 pr pf t Ut $7 pr pt Kautm Dept 8 77 pf Kentuck Util pr pf Pullman Inc Wentworth Mfz cv Wheel & L E 47 pr m %1700 Wh & L S35t 0OOOOD B -1 -1 NEW YORK BANK STOCK NEW YORK. January the-counter market bank panies—opening bid and 14 (@ —Over- | and trust_com- asked prices ‘ Bid. Atked. Bank of Manhattan (1'2) . 7'a 4 by 1 a0 First 0 Public l]'a: Bankers' () Brooklyn Trust Central Hanover Chemical (1.80) Continental .80 Corn_Exchange (3) Empire (1) Guaranty (12) 1rving_(.60) Lawyers” Trust (2 Manufacturers () Z ReY, fork Trust cs) 1 itle Guaranty & Trust xd—Ex-dividend. ‘(’ 3 160 | CHICAGO PRODUCE. | CHICAGO. January 14 (@ —Poultry. Live, | car, 22 trucks: hens easier. others | steady. hens. 42 pounds up, 1i8: less ihian ‘4" pounds,"14; Leehorn hens, 13 | colored. 13!z Plymouth and 0 White 2! Leghorn chicKens. Leghorn | Toosters. éns, 16720 young toms. 14: old. 13 0. = turkeys. 13; ducks. 41, pounds up_white and colored. 15: small white and colored. 11; Northern geese 3. “Sputhern weese. Pounds 1 p lese than 7 pounds, 19 Butter. crumrry Spe ll( (93 score). firs | by crmrnnnd ; extra fresh eraded current re- | Montevideo 78 ; “Potatoes 119 on_track total United States shipments. unsettled: supplies moderate. demand very slow: very Tew early sales reported Sacked. per ewt; Idaho Russet Bu ks, U. No. 1. very few sales. 3. y: Uiome lmlanB best_stock for glxh-r pncee Colof Red McClures, U S No_ iss Triumi Wisconsin Ruumf W hites g sales reported: U. 8. commer- Michigan Russet Rurals. o " sales reported. ~New »mkn“es‘n:’m‘x‘y mand very slow: supi - e ridn.. bughel crates Blies e No. 1 and U. . No. - PARIS BANK CHANGES. PARIS, January 14 (#.—The Bank of Prance siaiement for the week ended Jan- uary & (in millions 1 Gold reserve. 60. balances abroad, purchased abroad. counted comme: decrease. 1.338: state (prior 0 6-1 changed; temporary (since 6-18-736). 6.7 advances _against securities. cri circulation, ¥N.417 974 total credit to cuirent coount increase, %25 governmen securi . 26; rate of fllsLnunL NEW YOB,K PRODUCE. NEW ary 14 (P —Butter, EW YORK. J&ickmery. higher than X extra (92 score), 34%s ged "and unchanged. ed. Mixed e cl retriger- checm “§%: other mixed GOIDII .nchln “weak. By freight. chickens: ks, %‘A"“:z o,:a mixca with, Rocks ur- : fowls. TU.S. TREAS\TEY POSITION. By the Associated Press. of the Treasury on January Tt':‘v'msl‘tllog 11.476.86; expemflmrn Y 05 blllnez $1.905. !Hl 9012 Eultblm! receipts for the month, $15.435, 69 ts for the fiscal year (since July ms“"?m‘s 02080085 expenditures. 3.~ 1 a8 330 (Gncluding | $1511, { emergency e £ exo °au ‘s 473,509.082.4 487 475.91. an increase of 67.74. previous day ks $11%500 469 53z, ihcluding $71.- $56.509.86 of inactive FREIGHT LOADINGS. ‘Rx‘" January l‘fl‘l’o’l‘;‘ —“fl!‘l‘llll carloadings on ri s reporting fif‘\'v':ek ehded Junuary 9 included: ek mv«mn Last week. year. 042 22 840 12.600 Norfolk & Western 04 21,765 Prisco - Burlington RUBBER FUTUBES NEW YORK. January 14 (.—Crude Tubber futures ovened barely steads, 4 to 00 ower. May, 21.88- July, 21 it | Ger Gen Elec 6s'48 ___ | Nord Ry 63 Buenos A C 6s°61 Pv Buenos A 6561 st Pv Bulgaria 7s 67 July coupon off Canada 5s°5 Chile 6s ’60 Chile 63 °61 Jan _ Chile 6s ‘61 Febr | Chile 6s 61 Sept.. | Chile 6s ‘6. Chile 6s 63 | Chile 7842 _ Chile Mtz Bk Chile Mtg Bk 63%s 61. Chilean Mun L 7s°60_.. Chinese Gv Ry58'51_ | Colombia 6s 61 Jan_. | Colombia §s 61 Oc | Col Mtg Bk 75’46 __ Col Mtg Bk Ts 47 | Covenhagen 4335 | Copennagen 58 Lnrdom 7S 42 Pr Cuba 58 "04-'44 1004 Denmark 5138 ‘55 10075 Dominic Ist 558 42_ | Dominic 2d 5‘45 40 El Salvador 8s'48 ct__ Finland 6s 45 | Frameric In T12s 4300 Ger C Ag Bk 6s'60 Oct. 1085 7% 39%4 Ger Gov 5% 213 Ger Gov 51 Fl Jap T Greek Gov 7864 Haitl 6552 = Hung Con M 71;8°45 unmat coupon on Italy 78 51 Ital Crd P W 7s'47 B [talPUCrd s "52 Japan 633554 Kreug&Toll 5859 cfs. Lombard Elec 7s'52__ Mex 4s 10-'45 asst sm Mex 4854 asst = Sept coupon off MinasGers 6%2s 59 Sept coupon on ._ Milan 612852 28% 8% 66% 10434 104% 10134 103% 101% 107 T4% 100 iy 1013 26 21% 21% 23 59% 6% 6623 10435 104% 1018, 10314 10134 107 153 100 T4l 1017 2634 2244 2215 23% 9% 6% 60 New So Wales 58 58 _ Norway “%s " Norway 4% Norway 5s'63 _ Norway 63 44 Oriental Dev 5%s 58 _. Oslo 41,8°55 Panama 6s 63 stpas__ Paris Orl Ry 5%s "68_. Pernambuco 7s 47 Sept coupon oft Peru 6360 Peru 6s ‘61 2814 59% 6% | 59% 31 18% 183 13y 18 20 Poland 8s'50 Porto Alegre 8561 June co Prussia és Prussia 61 Queensland 7s 41 Rhein Rhur 6s 5 Rhine W EI P 6s '53 Riode Jan 68 53 Aug couponoff _____ Riode Jan 8s 46 April coupon off ____ Rio Gr do Sul 6s 68 June couponoft ___. Rlo Grdo Sul 75’66 May coupon oft Rio Grdo Sul 7s'67 June couponoft ___. Rio Gr do Sul 8s'46 April coupon off____ Rumania 7849 Auscouponoff.____. Sao Paulo C6%s 57 May coupon off Sao Paulo St 6368 July coupon off Sao Paulo St 7s '40 ulo St 7s ‘56 Sept couponoff ___. Sao Paulo St 85 °36 . July couponoff ___. Sao Paulo St 8s ‘50 July coupon oft Saxon St Mtg 78'45_. Serbs 7s*62 unmco.. 62 unm ¢ o. a Prov 7s'58..._ 5%s’ Taiwan Elec 634871 Tokio 5%s 61 Tokio E L Ltd 6s ‘63 UnSde‘%l TA a1 18% 183 nsy 18 20 304 33 18y 18 20 2934 33 26% ” 6% 615 L) “ ay Warsaw 78'58 . Yokohoma 65 °61. 81% DOMESTIC BONDS. Adams Express 45 '47 10535 10534 106 Ala Grt South’n 4843 108} 108}5 108l Alleg Corp bs "44 1004 100 100k Alleg Corp 55 49 953 9SY Wbl Allez Corp 5550 stp _ 64)5 64 64 Allied Stores 475850 101 1003 101 m & For Pw 552030 86 84} ’“ ¢ | Bush Term Bldg 5s'60 ¢ | Cent Pac 55 '60 34 | Green Bay 6562 B 0 THE EVENING STAR, WASHINGTON, BONDS ON N. Y. STOCK EXCHANGE High. Low. 2:45, Am Icecv bs 53 Am 1GChb3%s'49 10834 108% Am Int] 5358’49 Am Tel & Tel 3%s'61. 101% 101% 101% Am Tel & Tel 315 °66. 1017 101% 101% AmT & T 4%8'39____ 112% 1121 1124 AmT&T 6% 43 1113 111% 111% Am Wat Wks 6s°75__. 110 110 110 Am Writ Paper 63°47_ 124 69% 12 Am Writ Pa6s 47cfs_ 12 Uk T2 Anaconda deb 4% '50. 106% 106% 106% Anglo-Chil Nit 78°67.. 38 38k 3844 Armour & Co 41539 1083 1033 103% Armour(Del)1st 4s'55 100 994 98% Armstrong C'k 4 '50.. 106 106 106 108 1 108 - 110% 1104 110% S 116 1145 L14Y - 1103 11034 110% 105% 106 105 99y 99 99% 994 9875 993 A T&S Fe 4184 Atl Coast L 18t 45 '52._. Atl Coast L clt 48 °'52... AtIC Lun43%s’6s A T&S Fe TSCL 4s'58. 118 113 113 Atlanta & Birm 48’33 37 37 a7 Atl Coast Line 58 °45 _ 10634 106 106 Atlantic & D 1st4s'48_ 594 58 &8 Atlantic& D2d 4s"48_ 53 53 63 AUG&WI5s'59 __ 8% 83 83 Baldwin Lo 58°40 asst. 10534 1053 10634 _ 108 1073 107% g 11 17 116 116 116 93 92 92 92y % 92 2% 91% 91% - 1024 101% 102% PLE&W V 48’41 1047 104% 104% 1063, 10634 10634 B & O Toledo 48°59 _. 98 98 u8 Bang & Aroos 48’51 . 1104 1105 1104 Bang & Aroos cv 48’51 11434 114% 1143 Bell T of Pa 5848 B__ 1203 120% 120% Bell T of Pa 55’60 C__. 130% 13034 Beth Steel 3%s 66 9y v Beth Steel 4 1065 105% Bos & Me 4% 83y 834 Bos & 883 88l4 Bos & Me 6s * 5 87 Bot Con M 6 3 37% 3T Bot Con M 6%s'34 ct_. 87% 37 Bklyn C RR 5841 10034 10035 Bklyn Ed con 3%’ 104% 104% Bkiyn Man T 4158 66_ 104 103}4 Bklvn Queens C& S con 58 '41 stpd Bklyn Un Gas §s 45 Bklvn Un El Bklyn Un Gas Brown Shoe 3% s “ Buft R&P con 41857 BCR&Ncl5s'34 BCR & N 5s'34 Bush Term con & BETUNNTY1e 105% 10535 10534 1054 92wy 29 29 29 29 803 7% 685 6534 w© 3% 11634 216% o5 Camag 78 42ctfs . Can'dian N R 43,5 ‘56 Can'dian N R 4%:8°57. 115% 1164 Can'dian N R 43 - 118% 116% Can'dian N 58'69 July. 118%; 118% Can‘dian N 55’69 Oct __ 12 120% Can'dian N db 613846 |2’lh 127% Can dian P db 4s perp i Can dian Pac 4145 "46. 10275 Can dian Pac 4%s ‘60 1043 Can’dian Pac 58’44 ¢! 116 Can'dian Pac 68’54 .__ 1oulg Caro C1& O 5838 1051 | Centrai Fdry ev 5541 10874 | Central Fdry cv 6s "41. 92 arth & Ad 4s'81 gtd_ mm 105 116k 10814 1051 mn 202 28 3335 3344 108, 20% 3515 353y 2 21 10435 104%% 67 67 108% 108% 8 8Ty 1% 103% LI 134 162 1013 101%; 12735 109 6814 116% 11875 1095 | Cent Ga Chat 4851 Centof Garf 5%s'59._ Cent LI E& G 58°51 21 mu' 88 g 108% 9435 134 15314 101% 1013 127% 109 8814 11634 187% 112% 41 Centof N J gen 5s'87_ Cent Pac 1strf 4s'49__ 112 - 103% 943y 134 168'5 1025 - 1023 St 109 L] 11635 11y 10934 12y Cert'd deb 5155 '48 Chesap C cv bs 44 Chesap Corp 58°47_ Ches& 0 33s 96 D Ches& 03 C&Ogen4lys'92 C&Oconbs'3y . _ Chi & Altref 3549 Chi B& Qgen 4s Chi B & Qref 5s f'chi B&Q1 div 33 - Chi B&Q 111dv 48°49_ Chi & E 111 5551 Chi & E 11158 '31 ctf; Chi Grt West 45 '59 {Chil & L. gen 55 66 __ Chi Ind & L gen 63 '66.. CMStP4s'89 ,M&S(l‘ &n 31;8'89 B CM&StP gn 413589 C_ CM&StP 41:5'89 E CM&S( P58 75. 25 2% a3y 5815 6834 69 3434 1 493 3814 Chi & NW gen 58 '87__ Chi & NW rf 58 2037 . C&ENW Nr W 61,83/ Chi R1&P rf 4s°34 _. Chi R [&P rf 4s'34ctf_ Chi R I&P gen 4s° Chi R I&P 412 Chi R I&P 43> Chi Un Sta 3% s J EC Chi Un Sta 4344 Chi Un Sta 4563 _ _ Chl& W Ind 41, 8°62__ Childs & Co 5s'4 CinG&E3Y%s'66 Cin Un Ter3!;s D gtd Cin Un Term 5857 C | CCC&St Lrt 4%s 1T E | CCC&St Liret 55763 D Clev Cliffs Ir 4% s Clev Short L 41;s Clev Un Tel 41e8 " Clev Un Term 5573 B Clev Un Ter 5% | Colo Fuel & Ir'5 Colo Fuel&Iron 5 43 Colo& So4%58'80____. Columbia G & E 53 ‘52 May Columbia G&E &s Colum Ry P&L 4s 55 Com Inv Tr 3%s "5 = Conn R&L 43,851 a!p. Cons Coal Del 5360 Cons EANY 3% s46n_ Cons Gas NY 4%s’51_ 106% Consol Oil 3148 °51 - 106 Censum P un 3%8°65_ 106 Consum Pwr 33 s '65_. 1093 10935 Cons Pwr 3%s "7 1067% 106% Container deb 102!5 102'4 Crane Co 3%8°51 10235 102% Cuba Northn 63,8'42_ 64! 64 Cuba RR 7%;8'36 ctfs_ 170 10 Del & Hud ref 4543 95 944 Del & Hud 5%s'37 101 101 Del P& L 4%s'69 101% 101% DenG & E5s’51st___. 107 107 Den & R G con 4s* ( 36 3534 Den&RG 41, 38 35y D!n&RGWBl'BS - 2y 21 Den & RGW 5s'65asst_ Den & R G ref 68°78 _ Des M&F't D 4835 efs. Detroit Ed 43’65 F __ 110% 110%; Det River Tun 4% 8'61 117% 117% Dul SS& At6s'37____ 685 67% Duquesne Lt 3% s 56_. 109% 109} East Cuba S7%8'37__ 46 4 EIgin J & E 5s "41 1133 113 Eriecv 4s'53 A _ 8% 93% Erfecv 4553 B._. 9334 93¢ Erie cons 45 '96... 1064 106% Erie gen 4596 9% 9% Erie ref 7 87% 87 Erieref 5s'75 873 87 Erie & Pitts 31;5'40 C. 107 107 Fed Lt & Trac 6542 __ 108% 103} 1034 Fla EC Ry 68'74 - 18% 18)5 18% Fla ECRy6s 'T4ctfs. 18% 18 18 Fond J & R 4s'82 filed & 5 5 Francisco Sug 6s°58._ 86}5 85)5 85} 102 102 102 -~ 10634 10534 10634 104% 10434 104% 1038 10834 10834 96145 U6 96k 4334 43%4 43) 1013 101 101% 1063 10534 106) 1043 104 10634 10534 10834 122% 121% 121% 109 108% 109 116 11534 116 10834 10834 10834 10734 10734 10734 1163 118% 11634 1175 117% 117% 49 143 146 10136 10134 11 Z 1063 112 10515 i 9335 103% 109 108 8l 1047 10734 116 10515 110%; 2% 0% 106% ki 1114 1058 2% 10514 9% 103% 1093 10434 10435 10735 106 1073 6814 106 43 102% 6 L 94 101 101% Gen Am Inv bs " Gen Cable 5%8 47 Gen Mot Acc 38 46 Gen Mot Ass 3% s 51 Gen Stl Cast 613849 Ga & Ala 55’45 Goodrich 4%s Goodrich 6s°45 Goodyear T&R 68 '57.. Goth Silk H 5846 ww. Great N Ry 48 °46 G Great NRy 4s 46 H . Grt N Ry ref 448 '61 A Grt N Rgen 4%s8'76 D Grt N Rgen 4%s'17E. Grt NR gen 58°73C__ Grt NR5%s'62B..__ Gulf M& N 6 Guif M&NG6% Gulf Sta St15%s 42 Har Ry PC 1st 4354 Hock Val 4348 ‘99 Hoe(R)& Co 61:8°34._. Houston Of1 535 °40__ Hudson Coal 5862 _ Hud & Man inc 6s ‘57 Hud & Man ref 53 '67 111 Bell Tel 31570 111 Cent 3345 ‘62 111 Cent col tr 4853 nnu 125% 128% 81 81% lw( 103 108% 63 65 5534 4% 343% 3y 84!y 83% 84 - 209% 109% 1095 89y 895 % P2 W r 1048 | 111 Cent ref 4s Il CentStL3s I11 Cent ref 58 5. ICC&StL N O4% ICC&StL N O Inland St13%s’ l.... Int R T 1st rf b 1IRTIstre BI'llct! IntR T 6532 Int R T 6s°32 ctfs. IntRT7s'32 _ Interlake 58 ‘51 Int Cement 48 °4: Int Grt Nr 6s ‘52 int Grt Nr ad) 6852 Int Hydro Elec Int Mer Marin Int Pap 1st 68 '47A. Int Ryof CA 6s 41__. Int T&T cv 438 '39. Int T&T 43:s '53... Int T&T 6355 lowa Cent 1st&rf4s's1 James F & C4s'39 __ Kanaw & M 4s'90_ Ki CFS&M rf Kans C So 1st 38 '60 Kans City So ref 5 Kelth 6546 __ Kendall 51848 ww Ky&Ind T 415’61 pl Ky&Ind T 4%8"61._ Laclede Gas 63 '39 Laclede G 5%8 53 Laclede G 53860 D_ Laclede Gas Laclede Ga Lautaro Nitr 6s'54. . Lautaro Nit s '54 cf: Leh V Pcon 4%s 2003 34 | Leh Val Coal 55°54 aseh Val Coal 5874 LV NY 18t 4545 LV NY 43840 gtd L.eh V RR con un '003 Long Isl gen Lex & E I Ligeg & Myers 78 "44_ Little Miani 45’6 Loew's 314846 Long sl ref 48’49 La & Ark 5869 Lou & Jeff Bld L & Nash 3%s 2003 L& N 1st4s 2003 L & N unif 4540 L& N 4%s 2003 C_. L &N 58°37. 4 L&N582003B L & N Atl K&C 48°55 St L 35 '80 So Mon jt Manati Sug 7‘2! 42 Manhat Rv 4 Manila RRS 1 u *39. Mead Co 68 '43 Mex Int R 48'77 ass| Mich Cent 45 '40 ich Cent 413579 Mil El R&L 55 '61. | Minn & S Lrf4s 49 | MStP&SSM cn 4s°38_ i M cn 58°38 | M8 5838 gtd | MStP&SSM 51 MStP&SSM 532878 MoK &T4%s"78_ MOK&TG5s'62 A MoK & T fl] 58°67 Mo Pac 58" Mo Pac 58’18 G Mo Pac 5s'78 G ctfs Mo Pac 5s 80 H_ Mo Pac 58 811 Mo Pac 5881 Ictfs_ Mo Pac 58’49 A Mob & Ohio 4 | Mob & Ohio 5: Mohawk & M 4s " | Monong Pub S 6s '65 Mor&Essex 3%;s 2000 Mutual Tel 5841 Nashv C&St L 4s "7 | | Natl Dis P C 41:8'45 | Natl RM 1st 48'51 ass Nat R M 432s°262 Nat Ry Mex 4% Natl Steel 4s°6 Newark C (;d!u)‘("l New Eng RR New K T&T 15¢ 58 °5 New OriGNR & New OrlPS New Orl P8 New Orl Ter 1 New Orl T&M NY Central 38 97 NY Central 338 46 NY Cent con 4s'98 _ NYCrf4ls2013n | NY Cent rf 582013 | NY Cent cv 65 44 NY CL Sh 3158’98 NYC Mich C 3} NYC&St L 1st NY Chi & St L 68°38 Y Dock 1st 48°51 Y Dock 5s'38 Y Edison 3% NY & Green L NY L& W Ist4s NYNH& H3%s NY NH & H3%8°56 NY NH & H 48°5 NY NH& H 4857 _ NY NH& H 41567 NYNH& Hecev 6848 NY O&W ref 4s 92 NY Futnam 4 NYQueens con3;a’ 65 NY & Rich G 6851 NY Rys inc 63 °65 NY Rys 6s 65 A stp. NY Steam 1st 58 NY S&W 2d 4%s NY Tel gen 4335 ‘39 NY Trap Rock 6s"46. NY W& B4%s 46 Niag Sh 5%s'50 _ Norf So 1st ref & Norf S 1st rf5s’61 cf North Am Co b: North Am Ed 5% Nor'n Pac 48°97 . _ Nor'n Pac 58 2047 D. North Pac 65 2047 North Sts Pwr North Sts Pw Ogden LC 48°48 Ohlo Edison 48’65 Ont Pwr Niag 5s ‘43 Oreg W RR 48 Otis Steel 68°41_ PacG & E3%s’61 Pa¢ G & E 4s'84 Pac RR Mo 1st 4 Pac RR Mo 2d Pac T&Trf3% Pan Am P C 6s°40 Parmelee 6s ‘4 Penn Co 4s5°63 . Penn Dixie C 6: PennO& D 4% Penn P&L 4%s ‘81 Penn RR3% Penn RR gn 448’656 Peoria & E inc 4s '90. Pere Marq 4%s 80 Pere Marq 1st 5866 Phila B&W 4s 43 Phila B&W cn 58°74 Phila Co 53 67 - Phila Elec Co 43 '71 _ Int Pap ref 6s'65. ... - 101 101 Jones&L Stl 4% s'61A s C F S&M 4836 - 6ct. Kan C Term 1st 43 °60. Lake E & W 1st 55 '37. Leh V P con 48 2003 __ 2 10054 Man Slst 73;s’ 4 2 u(l. Morris&Essex 4158 ‘55 Morris& Essex 68’55 . Nassau Elec 48'51 gtd. at] Dairy 34 851ww NY Cent rf 4158 2013_. YCL Sh3%s'98 r( - NYC&St L 53,8 '74 A._. NY LE WD Imp 6s'43 NY NH & Hcl tr 6s'40. 1 North Am Ed 68'57 A. North Am Ed 5369 C.. ‘63 Nor'n Ohio 1st 5845 . Nor'n Pac gen 88 2047. North Sts Pw 4%s ‘1. North SP 1st58'41 A_ Pan Am PC 68’40 ctfs_ Para Broadway 3s'55. Paramount Pic 68 '55_. Phila B&W 4%s'81___ flllh lfi' ’45 uu ll ll 1lli "l)‘ ‘Illi llu lot l(u 8534 n 90% hl'l% 101)1 lD‘l% uu uu 554 6314 524 603 905 9% 904 10134 1013 10134 14634 14634 14634 87 813 ¥1% u‘lh 111 Cent col tr ll SI... 102 101 102 88 2 8% . 101 105!4 10635 10635 ~108 108 108 655 6blg 6B 623 6214 62 W ¥ W 9915 99 Wl§ 10934 10935 10935 98} 98% 98)5 © 10274 10275 102% 1004 100% 100% 109% 109% 109% 100% 10014 100% 0 69y 69% 70 10 1024 102 10134 101 102 102 88y 88 23§ 12 8% T84 . &% 4 10214 1024 1024 883, 88% 88% 38% 3835 38% - % 6 T LT 1% 1% . 3% 13} 3% 108% 10534 10535 93% 93% 93% 10234 10234 102% 6815 673 67% 83 83 1034 % - 12815 12635 12615 1265 136 138 108 108 10034 1004 106 106% 1008 9974 1128 112 97 968 102% 10234 108% 108% - 108% 108% 101 101 110 110 15 116 96 95% 100% 1039 81% ¥6 864 ubly 821§ 4 my,f Mil & Nor con 415839 Minn & St L 55'34 ctfs ~ 1103 110 963y 96'¢ W g 10134 10134 S 7 7 63 62%% 106% 106 105} 105 v 8% b4 s 5 5% - 106%; 10635 1221 12234 65 7614 12615 126 97 97 10214 10075 _ 102 101% 100 997 53 6215 - 1043 104 - 1083 1034 - 106'4 10574 9875 9613 9574 951y 10244 1024 - 112y 977 977§ 9315 9314 9734 9704 - 102% 102% Uy wH 104% 103% 993 9534 0% 65% 65 104% 104% 1007 100% 10434 1043 10634 1063 3834 611§ 106% 107 10814 108% 107 107 88 8115 87 10874 108% 1087§ - 90 90 19% 19 19 1035 103 1081 28% 278 27% 27 3 2 1083 1063 105% 10634 10534 10534 10834 105% 1083 10434 10434 10434 8134 8135 813 81 81 81 113 111 1m 109 1093 109 111% 111% 111% 10634 1053 105} 1085 1035 108% 108 108 108 1033 1083 108% 115 1143 116 - 10734 10734 1075 S 102 102 102 10634 107 109% 110 102 102 10t 101 10435 10434 54% 53% B4 B4 B4 B¢ Y T8 13% 10034 1008 10035 173 6% 17 1 107 107% 1073 10734 1023 10234 10284 1M1 110 11035 Penn RR4%s'84 . Penn RR deb 4345 °70.. Penn RR gen 55’68 . People GL&C rf 6847. lol 10555 106 10534 118% 1133 11334 11644 11634 lllh 128 128 106%4 Phila Elee Co 4% 867 _. Phila & R C&l 58°73 N 4T 4T D. C, tral __ | South Gen- 1 " Studebaker cv 63°45__ THURSDAY, BUILDING TOTAL CONTINUES CLIMB 15| December Volume Advarces Further in Contrast With Usual Drop. Epecial Dispatch to The Star. NEW YORK, January 15.—The building industry forged ahead in the final month of 1936 contrary to the usual expectation of a slight decline for the period. Permit valuations for December for the 215 cities regularly reporting to Dun & Bradstreet, Inc., reached $83,562,063, representing the largest December total in six years, and a gain of 32.7 per cent above the corresponding 1935 figure of $62,992,- 039. The gain over the November ag- gregate of $75,506,623 amounted to 10.7 per cent. New York City with a total of $16,- 363,201 for December showed a drop of 8.1 per cent from November, but an increase of 152 per cent above December, 1935. At the 214 outside cities, building permits for December amounted to $67,198,862, a gain of 165 per cent over the preceding month and 37.8 per cent above the same month a year 0. “Thc group totals of building permit values for the 215 cities for December, this year and last, together with per- centage changes, are shown in the following table: December Change 1935. per cent. +18.0 +16.3 +30.0 +93.8 $6.141.161 10.695.764 5. 8,780,658 6 . tral 1 wm‘ Cen- Mounum Pacific_ - 0. 3. 1.24: 13! TO %k, _$83.562.083 $62.992.039 Ny City $16.363.201 314.210.205 1 Ou a" 198,862 $48.781.834 HETAL MARKET. NEW YORK. January 14 (P —Copper lytic spot and future. ]2.508 e st pro,:ll 3.05. Tin stead- 51.15: future. o New York. £.00a6.07 Fast St. Louls, 5.85. Zinc firm: Ea. 3 Louis spot and future. 8.00. Iro minum. _sntimony. auicksilver. and wolframite unchanged. — e n. alum- piatinum Canada Dry Ginger Ale, Inc. —Com- pany plans to take over the distribu- torship for Hildick applejack brandy and the Willlam Penn brands of whiskies. 2:45. High. Low. 24 23% Phila & RC&1 65749 Philippine Ry 45 37 _. 26% 25% Pillsbury F1 M 6s°43_. 106 106 PCC&St L 5 B - 123} 123 Pitts&W V 1,8'58 A. 95 98¢ Pitts&W Va 4128°60C ¥4 98y Port Gen E1 47,560 _ 64 75 Porto Rico AT 2 81 81 Postal Tel & C58'53__ 43% 2% Pure Ol 41850 xw__ 104% 10435 Pure Ol 4%s - 12434 123% Purity Baking 58 '48__ 1005 100 R-K-O 68 41___ 126 121 Reading Jer C 48°51__. 10434 104 Hteading R 432897 A_. 1073 107 Reading R 413897 B_. 1074 107} Rem-Rand 4% s'56ww. 1117§ Republic St 435556 . Republic Stl 412861 Republic Stl 4%s Republic Stl 538 ‘64 Richfield Oil 6544 RG W 1stexin4s’'39. RioG W col 4849 A_ R1A&L I8t 425834 Rutland Can 4s 49 Rutland RR 43;8°41 Saguenay Pw4 % 866 St Jos & Gr isl 45°47 106 123 10454 11234 83% St L-S Fran 4s '50A _. St L-S Fran 4%s°78 St L-SF 44878 cfst_. StPKCSL4%s 41 SUP M&M ext 5843 _. 1038 108% St P Un Dep rf 58 12315 123% San A & A Pass 4 10234 102 Schulco 6138 46 g ay Schulco 613 a2 Yy Schulco 6335°46 Batp. 42 42 Seabd A L 4s'G0stp__. 331 32 Seabd A L ref 4 17% 174 Seabd A L rf 163 1615 Seabd ALG6S45A ___ 21 20§ Seabd A L 63 45ctfs . 20 19% Seabd A-F168'35 Act. 18% 13% Seabd A-Fla 6s'35 Bet 134 1310 Shell Undeb 3358 °51_. 10113 1008 Skelly Oil 4851 10234 10234 Socony Vac 3%8'50 107 10674 South Bell T&'T 58 10734 1073 S0 Cglo Pwr 6547 A__ 106% 106% So Pac 3%s 46 10135 101 So Pac ref 48 5. 107% 107% So Pac 412868 96% 96} So Pac 4% 69 9635 9634 So Pac 4%s 81 6l 96 So Pac Oreg 4%s°'77__ 100 9% SoPacSF T4s’50rg. 108 1074 So Ry gen 48'56 A 8015 198 11 101 1003 108 1023 9 93 1024 102% 109%; 1093 106 105% 10135 1013 126 118% 107 107 167 167 127 126 1053 10634 12534 12634 108 102§ 1085 10814 05 104% 1055 10835 SoRYyM&O So Ry St L div Southw’'n G&E 4s '60. Stand Ofl N J 3s Swift & Co 3%s'50 Symg G&G 5l%s ww_. Symgn G&G 66 xw__. Tenn Cent 6s ‘47 Tenn C&I RR 55 °51_ Tenn El Pw 63°47 A Texarkana 58 '50 r'exas Corp 3%8°51 Texas & Pac 55’77 B. Texas & Pac 58'79 C_. Texas & Pac 5s'80 D__ Third Av ref 4s'60 Third A ad in ex 68’ UnEIL&P5%s’54 Un Oil Calif 4 Union Pac 3%s Un Pac :lgl‘n - Un Pac 1st 48 Un Pac 1strf 48 zoot United Drug s ‘53 United Rys St L 4s. 1 0% T 10034 100 100% 1008 1 6 3614 36 Utl1 P &L 58°69 ww... Uil P& L 638 '47 Vanadium cv 5841 Ver Sug 1st 75°42 ¢ Vl E & P 1st ref 48’5 1063§ 10635 1063 101 10034 101 Wabash 5s ‘76 B, 40% 4019 40% Wabash 65 80 D_ Wabash 5348°75 Wabash 51,875 Walker H&ES 438 '45_. Walworth 48°55___. Walworth 6s 55 n Warner Bros Warner-Quin Warren Br cv Warren Br 6s ‘41 rcts. W Sh 1st 48 2061 gtd__ W Sh 1t 48 2061 re; West'n Md 1st 4s ‘52 4% 41 4l am ay a2 39 3 101 107 107 4 West'n Un 4%s '50 Westn Un cl tr 58 °33_.. 10335 10835 103% 106 106 106 109 109 109 10335 1023 1033 36) 35 85 3% 3% Y 61% 613§ 61% _ 10835 108 108 2 82 2 245 243 2% iE: 127 127% Wheel Steel 43 W Sp Stl con 7s'35 et W Sp Stl 1st 7835 Wilkes B&E 18t 58 °42. Wilson & Co 48 °55 Wis Cent 1st gn Wis C S&D Trm. Y’ngstn S&T 48°61. 233 | 25% | 10734 10734 10734 1073 1073 107% 4134 41 41y 105% 106% 106%% 103% 10834 10834 1005 1185 11634 116% 10934 1093 10935 10285 10235 16734 16734 167)5 - 10634 106 10634 10474 104% 104% 1063 106 10635 10934 1093 1093 4015 403§ 4034 395 395 39% JANUARY 14, 1937. Reynolds Profits Reach $29,253,135 In Twelve Months By the Associated Press. WINSTON-SALEM, N. C., January 14.—Net earnings of the R. J. Reynolds ‘Tobacco Co. for the year ended De- cember 31 were reported at $29,253,- 135, equal to $2.92 a share on the com- bined common and class “B” stock. This compares with $23,896,397, or $2.38 a share, in 1935. The company’s financial statement, as of December 31, showed net current assets of $117,600,608, compared with $117,851,888 at the close of 1935. Inventories were substantially in- creased, reflecting largely, President James A. Gray said, higher prices paid farmers for leat tobacco. OFFICE EQUIPMENT WE SELL. BUY OR EXCHANGE Steel Files 'l'lblu Steel Cabinets Chairs Safes BAUM’S FURNITURE HOUSE 1416 Eve St. NW. Phone NA 2184 1886 7/ 1937 VISIBLE RECORDS .S='='OCKE'I' - PRODUCING STATIONERS DIDE ST ‘N W For Building, Refinancing, Purchasing Homes TERMS AS LOW AS $3.50 PER $1.000 PER MONTH SAFETY FOR SAVINGS PRUDENTIAL BUILDING ASSOCIATION 1331 G S |||P rorerTY M ANAGEMENT EFFICIENT management is most satisfactory to both owner and tenant. WE specialize in the man- ogement of !l types of n- vestment properties and cre ncw Managing Agents for some of Washingten’s most important buildings WE would welcome the cp- portunity of discussing your manogement problems with you. Randall H. Hagner & Co., Incorporated Real Estate 1321 Conn. Ave. N.W. DE. 3600 For A Place To In- vest Your Money? You naturally want to secure & good return on your invest- ment, yet hesitate to take a chance on a speculative uncer- tainty. Why take risks, when you can Save with SAFETY? Of all the investments pos- sible, the safest and soundest is unquestionably First Mort- gages on Homes. This association, under the supervision of the United States Treasury, loans your money ONLY on First Mortgages in Maryland, Virginia and the District of Columbia. MONEY!! for Mortgage Refinancing \UR modern, convenient plan assures you a low interest rate—a more con- venient method of meeting payments on principal —a longer period in which to fin- ish paying off theloan.If your mortgage is due to mature soon, come in and talk it over ~no red tape or obligation. WEAVER FINANCIAL. A—21 FIRST TRUST LOANS Long-term REFINANCING . . . Lowest Rates . . . 3-Year Con- struction Loans . . . 3% 8% 80SS & PHELPS MOKTGAGE John Hlneoel uum-l the ins_Co. 1417 K 8t. NW. NA 9300 Money for Construction Loans and Loans on Improved Properties 5Y2% FIRST DEED OF TRUST ONLY GEORGE 1. BORGER 643 indiana Ave. N.W. Nat’l 0350 Investlner;ts First mortgage notes, well secured on con- 6 ;0 un-hvcly -ppuud by Marylend. Denominations of $500 up. Interest 6% per annum. Bradley, Beall & Howard, Inc. Southern Bldg. Phone Nat. 0271 Established Nearly 40 Years \ ".:.l. M 7 \ \ 1505 B 8t. NNW. Na 2345 Y Out of respect to our late President WILLIAM S. QUINTER this office will be closed from 10:30 A.M. until 1 P.M. Friday, January 15, 1937 District Building and Loan Association No. 1 Thomas Circle PROPERTY MANAGEMENT There Is a Definiteness about investment in our FIRST MORTGAGES that is very satisfying. You know “definitely” the rate—and it is a liberal one. _ You know “definitely” that the principal is amply pro- tected with approved real estate as the security. B. F. SAUL CO. REAL ESTATE National 2100 925 15th St. N.W. Over Forty Years of Experience First Mortgage Investments INCOME To avoid material reduction in income due to pre- vailing low money rates, it is necessary that investors pay particular attention to the status of the secunities in their portfolios. TWe offer the facilities of our Investment Research Department to individuals and institutions desiring statistical and advisory assistance. AUCHINCLOSS, PARKER & REDPATH 719 Fifteenth Street, Washington Members Cuicaco Boaxn or Tx Cricaco Mencaxtine Excuancs Commopirr Excmaxae, Inc Wasninoron Stoce Excxanos Philadelphi New Yoax Srocx Ezcmaxce New Yorx Corron Excmason N.Y. Cuss Ezcnanor(Assoc.) New Yoax Paooice Excuanas Wilkes-Barre New York Baltimore Why Bank Stocks . Freedom from labor troubles. . No interest rates on demand deposits and continually lower rates on time deposits. . Volume of deposits at all-time high resulting in high leverage. Increase of as little as 4 of 17, received on invested assets would likely result in 2% additional earnings on bank’s capital stock. . With increasing business loans and probability Government will soon recede from its deficit financing, higher interest rates may be expected before the end of the year. . Exemption of banks from undistributed profits tax, which tax will cause increased borrowing by those affected by it. . Stockholders’ double liability ends July 1, 1937, on National Banks and New York State Banks. . Successful entrance of many banks into small loan fields. . National Banks stocks free from D. C. personal property tax. Banks managements are capable and tested. No adverse legislation 1s in the ofing. _Inflation as severe as the French tvpe would not prove detrimental, * Seryice fees have replaced former costly free services Dividends are saf n many cases be increased during the Comine gear Bank Stocks Jag benind in the early stages of & TeCovery eriod. but history shows that they are among the best performers marketwise after recovery sets in. In our opinion recovery has “set in." and the wise investor will include leading bank stocks in his portfolio Reports and Quotations on Leading Banks Furnished Free Upon Request George M. Ferris & Co., Inc. Washington Bldg. Natl. 5925-26 Member Washington Stock Ezchange ééozf Zetm CONSTRUCTION LOANS in District of Columbia or nearby Maryland SIX MONTHS TO ONE YEAR 5:% Upon completion of buildings, these loans may be extended on one of several long term monthly payment plans; or for three or five years, without curtails; interest semi-annually. H. L. RusT ComPANY 1001 FIFTEENTH STREET NATIONAL 8100 INTEREST COMMISSION 1%