Evening Star Newspaper, January 27, 1937, Page 17

JANUARY 27, 1937 FINANCYIA L *xkkk A—17 FINANCIAL. . WASHINGTON, D. C, WEDNESDAY b, g . e e R I e el e e e e e e s b L) CURB LIST TAKES UNEVEN COURSE Utilities and Few Specialty Issues Move Higher in Ragged Market. By the Associated Press. NEW YORK, January 27.—Utilities and a few specialties rallied in a ragged Curb market today. Up fractions to a point or so were American Gas & Electric, Electric Bond & Share, Northern States Pow- er “A” United Gas, United Light & Power “A” and United Wallpaper. Gaining around 2 to 3 or more points were Aluminum Co., Montgomery Ward “A” and McWilliams Dredging. Down fractions to a point or more were American Meter, Commonwealth Edison, Pittsburgh Plate Glass and Mesabi Iron. Newmont Mining yield- ed about 3. CURB BONDS DOMESTIC BONDS Ala Power 47 Ala Power 5s ‘Ala Pover bs 'l Ala Power 5s ' Alum Co 5 Alum Co Ltd A E 5 1001, 993, 1004 X% 10038 100 % |nn!‘. 114 10015 0 ‘100 1002 401, 1103, 110 1041, 1041 105 Miss_River P ; Mo Pub S 5s Mont-Da P * NauP & L 100 109 o o d antm’r Bros ‘As ' . El A & PIEHERITEN 101 7101 Ruzg RO%e 10612 106 a0 " A2 ansy 101 il ‘o EEE it 000 Py, itz 11012 110% 270 B B o Bk 1081 10R1s \nfl“ 10015 100 " 10075 FOREIGN BONDS Buen A P Tlis '4 Com Prv B Cuban Te 7 Fin R M B 5s Ger Con Mun Isarco Hvd E Ttal Su E anty 213 Terni-Soc & Unit El Svc 7s ICAGO. live, 39 stmd% o ghorn hens, Plymouth _and broilers, °1: Pound: and less. 1%, 12: colored Springs. 18 White Rock., 20: colored Plymouth and White Rock, 22; Leghorn chickens. ters, 1 Leghorn rooster. Young toms, 16 3 ducks. 209 total id_ stocis fort - wt.: Idaho . very few do Red McClures, Wisconsin Round ! 1. few sales, 2 o ). 8. No. plies light: ‘de und nckl B ‘x Trlump 5 3.78: March, grade A. N NEW YORK PRODUCE. NEW YoRE. Jen —utter. slightlv xtra. 834! "\'L‘: Afifi fl] 50! \ seconds (84-87 scores), Jla: (90_score), Ch 89, easier. refrigerators. mediums tinguo dvio Roc! [ow] “-"’ffi'fi“er oeleiit prices WRchanged. ik sy PHILADELPHIA PRODUCE. ELPHIA, January 01 ks, cy. 22 :fl b Sea: i Jeliow mea I3 0; erou-brcd . Poud0l" med Springsre.. good 19a20; Red Springers. lSllD. or- 17al18; Bnflnl chickens. mlxed 17all turkeys, fancy young hi toms, 17al8: Melville Shoe Corp.—Sales, four weeks ended January 16, were up 35.7 per cent, ;| Atlas Corp war i | Barlow&S(A)1.20 By private wire direct to The Staz 2:30 Stock and Sales— Dividend Rate. Add 00. High. Low. 2:58. Acme W vic (2)..100e 81 B0} 803 Aero Supply (B) _. 20 m 8% Alr Investors Inc. 5 Ainsworth (al)... 204 Ala Pwrpf (6) - Alabam Pw of (7) AtlCoast La2¥% .. Alles Fisher. Allen Indus (t1)_ ‘Alum'n Co of Am 750 166 161 16514 Alum Am pf all% 460s 115% 115% 115% Alum Good sa%0c 2 1Ty 174 174 Alum'n Ind (40c).700s 11 1 14 ! 2008 111 10534 111 5 28y 2834 2835 3% 315 8% Am Box B'd 180¢c Am Capital (B) ... Am Cit P&L (A) 3 25 40 AmCitP&L Ba20c 1 6% 6% Am Cynam B t60c 26 833§ 83 Am & For Pwww. 46 4% 3% 4% Am G&E (1.40) 19 44l <24 4dds Am G&E pf (6) ___ bus 11034 11034 110 Am Gen C'p (a50c) 3 10% 1074 10% AmGen Cpf (2) 2008 53 3% 33% Am Hard Rub(a1) 100s 28 285 Am Lau Mch t60c. 14 AmL&T (11.20). 6 Am Maracaibo o Am Meter (a2%)_ 1 Am Seal Kap a30c. 0 6% 38% Anchor Post F Apex Electric(al Arcturus Radlo T. Ark Nat Gas __ Ark Nat G cu pf_. Ark Nat Gas (A). 5. |Ark P& L pf (7) Ashland O&R t40c Asso Gas & Elec.. AsSOG & E (A). As50G & E $5 pf. | Asso Laundries_ Asso Laund vtc Al Coast Fisher. | Atlas Corp (80c)._. 125 1% 8% 51y 26%; 26 2% 2% W T a7 21 17% 3% 3 5135 6174 267 2% Atlas Crp pf A(3). Atlas Plyw'd(13) | Austin Silver | Auto Products _ | Auto Vot Mch50c. 3 8l sy 8 | Ax-Fisher(3.20)A 40s 40 393 393 Babcox & Wil (4). 25s 149 149 149 BellAfrcraft_____ 1 14 14 14 Bellanca Alrcraft. 2 635 6% 6% Barfum Stain Stl_. 13 4% &5 44 B0a 17% 1T 17% , Bell Tell Pa pf 635 20s 123% 123'4 1234 Berkey&Gay FCo 81 35 8% 34 Berk&GF purwar 60 2 1% 13 Bickfords pf(23:). 258 36 86% 36 BllssCo (EW)_.. 16 22 21 22 Blue RidgeCallc. 8 3} 38l 38y Blue Ridgecvpf3 1 46k 464 6% Bohack HC 1at pf_ 1508 54/ 53% 64 | Eotany Cons (d).. 24 3 | Bower Roll B (2)- 2v% | Bowman-Biltmore | Bridgep't Mchal_ Brill Corp (&) Brill Corp (B) | Brill Corp pt__ Brillo Mfg (60c) _. Br-Am O cou 180c. Brown Co pt Brown F & W alb¢ Brown Forman Bruce(E L) Co Buft N&E pf 1.60. Cable El Prod vtc. Cable & Wire(B)_. 23 Can Car&Fdry pf. 12bs Can Hydr E 1stpt 10s Can indus AlcoA. 2 Can Marcont ____ 17 Capital City P 60c Carib Syndicate Carnation Co ( Carrier Corp... Carter (J W) 160c. Casco Product Catltn Corp (a4tc) 28 Cent Ohio Stl b25¢c 1 Cent&SW Utll _ 29 Cent States Elec . 23 Cent St El ev pfn 1508 23}«. Cent St K16% pt_ 76s 234 trif Pipe t40c. 1 6l CharisCorp(1%). 1 163 Cherry-Burr'l 213 §0s 77 Chi Flex Shaft '. “11008 6l Chi Riv&M (11%) 2 82, Childs Co pt_. 508 821y Clties Servic Citles Servicept__ 4 City Auto S(16uc) 13 City &SubH3ve.. 1 Claude Neon Lis Clay’'n&Lam a7oc_ Clev E Ll tum(12). Clev Tractor__ Club Aluminum_ Cons Royal (2uc) Contt Oi1 (Mex)_ Colon Dev Ltd Colo Fuel&ir war. Colts PF A (11%) Colum G&LS pt(a) 800s Columb V& G azuc 28 Comwlth Edis 74 Co with Dist aluc. Com with & S war Com'u'ty P&L lst. Community W S__ Colon Dev 6% pf_. ‘ Cons Atrcraft. __ 2633 Consol Biscuit 60c i Cuusol Copper C GELt&P Bo 3.60 Cont | Koll & 8 Fy Cooper Less Copper Range. Cord Corp . .. Corroon & Reyn__. Cosden 01l Me (d) Cosden(Me)ptd). Cramp(Wé&Sons) - Creole Pet (asuc). | Crocker-Wh alvc_ Sl Crofi Brewing .. _. | Crown Cent P asc. | Crown C 1(4)b30c Crown Drug bllc.. | Cusi Mex Mining - | Darby Petr (50c) | Dayton Rubber___ Dejay Stores 180c. Derby Ol & Ret__. Det Gray Ir t20c_. 1 1 W 2, 2. 2 1 45y | 1 194 584y 8y Y5 9l 182} 13y 181 20 2% . 2k % B % b9k 09k 594 | 0 | Det Stl Prod al%_ | Dohler Die Cas(2) Driver Harris 113. Dubelier Condens_ Duval Tex S asuc.. Eagle Pitch d as0c kasy WM Brtove 11 Economy G S all; 60vs ldison Bros 11.60. 2 Lastn G&F Asso. 6 | ast'n G&F DI(6) 4004 | Bast G&F p pf 435 160s iSast'n States Pwr 4 knsler Elec (asc). 8 Klec Bond & Share 306 ElecB&Spt(5). 2 ElecB&Spf (6) & i Pwr As(A)aZic 1 ilec P&L 2 DI A 40s ¢ Shareholding 2 | k21 Shov C 1st pf__ 50s Lmp GEF 6% pf_. 26 Emp G&F 1% pt _ 50s Emp Pwr ptalso. 60s fquity Corplazic) 66 EuropnElbdrts. 2 kvans Wall Lead. 35 Evans Wall L pf 2008 EX-C-O A&T t60c. 6 Fanny F C (i50c). 1 Falrchild Avalse. 38 Falstaft Brewing. 6 | Ferro Enamtag).. 6 F'idelio Brewery . db Fire As(Phila.)t2 10s First NS 1stpf 7. 10s Fisk Rubber Kisk Rub pf (6)..200¢ |Flap&Lpt. .. Ford Ltd a181-100 Ford (Can) A (1). Franklin Ray a60c Froedt G&M(20c). 2 F'roedt’t cv pf 1.20 100s Gen Alloys .. __. 80 Gen El Ltda6%c 3 Gen Firepr'f t40c. 3 Gen (nvest Corp.. 6 GenInvCorppf_. 16 Gen Pub S pfals.. 108 Gen Rayon Ltd A_ 14 Gen TeleC'pal.35 6 Gen Telcvpf (3).. 1 Gen Tire& Rub .. 9 Georgia Pw pf (6) 50s GiIb’'t(AC)a62%c. 2 Glen Alden C (1) 26 Godchaux S A(b1)300s Godchaux Sug(B) 9 313§ Goldfield Consol . & 4 Grand Natl Films 14 4 uK | Nat Union Radlo_. | N Y Telpf (6%).. % | Selected Indus 2! 'm Btock and Dividend Rate. Add 00. High. Lo Grt Nor Pap (1) 450s 43 Greenfleld T&D.. 5 Groc Store Prod._ 1 Guardian Invest . 4 Gulf Oil (Pa) b25c 21 Hall Lamp (80c) .. Hand P pf a28ie_ Hartman Tobacco. Harverd Brewery. Hazeltine Corp a3. Hecla Min (a60c). 1 HeydenCh (12)__. 2 Wollinger G té6c . 2 Holophane (b50¢). 2 Horn & Hardart t2 26 Horn&Hardt pf12 50s 111 Hudson BM&S (1) 8 Humble Ofl (t1)._ & Hydro Elec Secur. 2 Hygrade Food __. 2 MP&L6% pf__- 508 111 Pwr & Lt §6 pf 660s lmp O1l Ltd t50c. 22 Ind'n Ter I110(A) 4 Ind'n Ter 11 O(B) 2 Indiana PL (t40c) & Ins Co of No A 12.200s Intl Cigar M 12 8 Intl Hold&Inv Ltd 15 Int H E Sep A war 7 Intl Hy E18cv pf. 4y Intl Petr (11%) Intl Safety Raz B Intl Utll (A) . - Intl Ul (B). Intl Util war new. Intl Utilities war . Intl Vitamin(50c) 2 Interst P(Del)pf 1108 Invest Royalty 6c. 41 ltal Superpwr(A) 1 Jeanette G1 (80¢) - JersCen P&L pf 6 Jer Cent P&L pf 7 Jonas & Naum Jones&Laugh Stl_ Kans City P8 vtc. Kan City PSpof A. Ken RT&L A abc Kingston Prod 40 Kirby Petr (20c) . Kirkland L G (6¢) Kleinert Co(t40¢c) Knott Corp (a40c) Koppers pf (6) Kress(SH) pf 60c. Kreuger Brew 11- Lakey Fy & Mach. LakeSh M (14) _. Langendorf (B) _ Lefcourt pf(a7ic) Leh Coal &N 30¢ Leonard O1l._ Lion 01l Ref ( )._ Locke St Ch t80c_ Lockheed Afrcraft Lone Star G aélc.. Long Island Ltg.. Long I L pf A(T) | Lonz Isl Lt pf B 6 | Loudon Pk'n t50c. | La Land (40c) 6 2 5 1 2 1 4| Lucky T (t12¢) | McCord Rad (B)_. McWilliams D (2 Majestic Ra&Tel_ Mangel Stores Margay Ofl as0c_- Marion Steam Sh.. Massey Harris .. Mead John (13) ... Mem Nat G(a50c) Mercantile Strs b3 Merritt Chap & S Merritt C& S pf A226s 74 Mesabi Iron Zhe 1 Mex-Ohio Of1 % Mich Bumper C... Mich Gas & Oil. | Mich Sugar__ Mich Sugar pf._. Mid Sta Pet (A) .. Mid Sta Pet (B) _ 3423 | Mid-W Abrasaloc Mid Oiler pfai. Midl'd Stl Prod(2) Mining Co (Can).. Moh H P&L 1st(7)250s 102 | Molybdenum Corp 268 44 Moore Dist (150¢) Monroe L S(A)32¢ Mount Prod (60c). Mueller Brass t1.. Nat Aut Fib b30c_ Nat Bella Hess __ Nat Contain a50c.. Nat Fuel Gas (1).. NatGyps A a2% .. 46 86 4% | Nat Investors Nat Inv pf (al0 Y% | Nat Leather | Nat oi1 Prod t60c_ Nat P& Lt pf (6) 100s Nat Rub Mch a20c 10 Nat Service . _ 1 | Nat Service 1 Nat Tea pt (55c) 1008 t Transit (75¢). 38 v Nebel (Oscar)..__ 2 NehiCorp .. __ Neptune M A a60c New Hav Cl (1%) N J Zine (12) New M&A Ldalc. Newmont M a3 N Y Auction N Y Merch (2.40)_ N Y Steam __ 1508 N Y Water Sve pf. 20 Miag HP(A) war. 2 HP (B) war 1 Niag S Md Baé(c. 22 Niles-Bem-P (al). 1 Nipissing (aboc).. 11 Noma Elec (at0c). 9 NorthAmL&P._. 10 North AmL&P pf. 60s NARayonAtll 2 North’'n Europ Oil 166 North StatesPA 13 Nor TexE16% pf- 8 North'st Engal’% 15 Novadel Ag (2) . 2 Ohio Brass B (11) 1008 Okla Nat GasCo.. 8 Oldetyme Distil__. 9 Overseas Sec 60c.. 2 Pac G&E 1st (1%) 1 Pac Public Service 2 Pac Tin spec (12). 50s Pan-Am Air (t1).. 2 Pantepec Ofl .. 51 Pender G (A)35-. 508 Pennroad (az5c).. 60 Penn P& L (6) Penn P& L (7)._. 20e 111 Penn Wat& P (4). 2 9l Pepperell Mfg 16 25s 138 Perfect Circle t2_. 60s 35 Phoenix Secur Pierce Gov (a50¢) Pines Wintfrt(n)_ Plon'r GM Ltd 80¢ 15 Pitney Bow(t40c) 1 Piusbgh Forging Pitts Plate G1(a6) Pleasant VW b5 2 Potrero Sugar .. 4 Powdrell&Al t60c. Pratt & Lamb (a2; Premier Gold t12¢ 76 Producers Corp_. 17 Propper-McC (d). 1 Prosperity Ball% Prudential In ab0c Pub Sve Ind pf Pub Svc Ind pr pf. 10 66 2 142 “ug Sd P&L pf(5) 75s 85 Pyrene Mfg(a%0c) 1 Rwy Lt Sec(1.55) 100s Rainbow Lum (A) 17 Rainbow Lum (B) 9 Raym'd Conc (11) 2008 Raym'd Con pf(3) 50s Red Bank . Reed R B new 180« Reiter-Foster Reynolds Invest. Richm'd Radiator. Roosevelt Field _. Root Petrolm(1).. Rossta Intl Corp - Russeks F' A (t1). Rustless Ir&Stl _. Ryan Consolid'd Ryerson & Haynes St Anthony Gold.. St Regls Paper Savoy Oil Schiff(The)Co(13) ‘Scvill Mfs(3) Secur Corp Gen_ Segal Lock & H. . BumaSarana e R TS TR Sel Ind all efs 5% 150« Gr Rap Var(t60c) 18 17% Grt ARPTn v 16. 708 114 » ) 118% 188 Sel Ind pr pf (5%) 60s Sent Saf Contred_. 6 A NEW YORK CURB MARKET 1% 634 5 Metro Edis pf (6).200s 104} b Minn Min&M?(t1) 25s SQ‘A 10 104 Mont Ward A (7). 110s 1543 | Moody's pt pf (3)_ 63 ) 268 117) 603 Niag Hud Pw a40c 27 159. l uy 6% Ohio Pwr pf (6)__. 108 111% 308 1105 4 8 4 260§ 3 2% 635 8l 2 23% 234 3% 110 1 39k @ % % 3 154 7 18% 208 344 Pub Svc Oklapl7 30s 106% 8l Quaker Oats (14). 10s 12134 253§ % U.S. STEEL NAMES SLOAN T0 BOARD New Director Widely Known for Work on Textile La- bor Problems. By the Associated Press. * NEW YORK, January 27.—George A. Sloan, widely known in cotton tex- tile circles for his efforts to improve labor conditions, was yesterday elected a director of United States Steel Corp. At the same time the corporation announced the best net income for the final quarter of 1936 and for the full year since 1930. Directors declared a dividend of $1.75 on the $7 preferred stock, on which there are arrears of $9.25 a share. In making Sloan, 41, a director, the corporation took another step toward bringing younger men to its high council. Recruits to the board of recent year-old former head of the Bank for International Settlements and presi- %' dent of the First National Bank of | New York, and E. M. Voorhees, 45, who % | will leave a vice presidency of Johns- Manville Corp. to become a “big steel” director and vice chairman of its powerful Finance Committee later in the year. Fourth-quarter net income of $20.- 650,780 equaled $1.65 a common share after allowing for quarterly dividend requirements on the senior stock. This compared with net income of $5,388,207 in the final three months + | of 1935, The 1936 net income of $50,525.684 \compared with $7,146,708 for 1935. | Earnings repnrl.ed were after deduc- tions for undistributed profits tax. Sloan, lean, tall and gray-haired, was president of the Cotton Textile Institute from 1929 to 1935, in which job he sponsored in 1931 the first gen- eral shorter work week in that in- | dustry. The following vear, the institute's 1 | board, with Sloan as chairman, was months have been Leon Fraser, 48-| NE 1936-37 8tock and @igh. Low. Dividend Rate. 124% 116’ West Pa Pwr pf (7) 12% 8% Western Maryland. 23% 15 Western Md 2d pf._. 4 1% Western Pacifie.__. 9% 5% Western Pacific pf_ 96 721% West Un Tel (a75c). 52% 34% Westinghse A B (1) 167% 94% Westh'se Kl (a5%). 170 123% Westhse E 1st 1335. 33% 22% West'n El Inst a8c 37 19% Westvaco Chlor (1) 85Y% 31% Westvaco 5%0pf 1% 43% 9! (Continued From Sixteenth 2:16 p.m. Sales— 21% Wheeling Steel . % 84 Wheeling Stl pf(aé) 18% White Motor 13% White Rk M 8(1.40) 3% White Sewing Mch. 1 2% Wilcox Oll & Gas... 37 6% Wilson & Co (60c)_. 70 Wilson & Co pf (6)- 494 00. High. Low. Clos 508 12215 122% 122% 108 167 3 29 2 24% 1 33% 7 40 2 105% 17 26% 5 18% 65 10 1 82% W YORK STOCK EXCHANGE Page.) 9 9% + % 1% 1% - % * 63 Wrigley ow T 50% — 5 169% +1% | 167 +1 28% - % 41% Youngs't Dividend rates as git 5% payments based on the 6% Paid last vear. reorganized. TREASURY STUDIES CURRENCY RATIOS Need for Some Changes Reported Discussed by Monetary Experts. Ey the Associated Press.« Officials said last night the Treasury is checking up on international cur- rency relationships to see whether they are serving the world's needs adequately. Secretary Morgenthau continued, | meanwhile, a series of discussions which he began with monetary ex- perts. There was no annpuncement from the conferees themselves, but ! conference dealt with the question whether there should be some slight realignment of currencies. It was emphasized, however, that no action has been taken and that the matter has not been discussed with France or Great Britain, co-partici- pants under the tri-power moneury accord. Reserve Committee Meets. | instrumental in bringing about dis- ! continuance of night employment of women and minors. — Youngstown Steel Area Returns to Normal Activity BY the Associated Press. YOUNGSTOWN, Ohio, January 27. —Industry and transport were back | to normal in the Youngstown steel dis- | trict today, after the Mahoning River L | fell three feet from its recent crest. 10436 | a5 | 3% | 54 | rate, after temporary l‘. | operations in a few departments of the mills. cent of capacity, equaling the 1929 b‘i %4 | from the Shenango Valley. another 4% steel center across the State line in Pennsylvania. —_— 2:30 Stock ana Sales— Dividend Rate. Add 00. Seversky Afrcraft 11 Shattuck Den Min 14 Sherwin-Will (4) - 50s Sher-Will pf(5)n_ 20s Shrev-El Dor P&L 4 Smith Cor vexttl 3 Sonotone C (alle) 2 So Penn Ofl(11%) 1 SoCal Ed pt pf 1% 1008 SoCalEdptB1y% 1 664 SoCal Ed pfC13%. 34 | Southn P L 20c_ 103 | So Royalty (ad5c) 2 | Spanish&Gen rcts Spen Chain St 60c Square D pf A 2.20 60 Stand Brewing .. Stand Dredging- 10 | Stand Drcv pf___ 8008 Stand Inv cum pf. 50s Stand Oil Ky (f1). 6 | Stand O Neb a25c. Stand Oil'Ohio T1. Stand Pwr & Lt__. Stand P& L (B) | Stand Prod (a25c) Stand Stl&Ld (4¢c) Stand Stl Spallz. Starrett Corp vic Stein A & Co (1) Sterchi Bros a3ue 121y Sterchi Bros 1st 3 258 38 Sterl'g Brew aoc. 7 6 Sterling, Inc(20c) 2 5% Stetson(JB)b50c.. 268 Stinnes(Hugzo) d 3 Stroock & Coa2'z 3008 Stutz Motor 9 Sullivan Machine. 1 | Sunray Ofl (alve) 39 Sunr'yOcupf2¥% 1 Sunshine Min (3). 13 Swan Finch. 2 Taggart Corp 1 Tastyeast(DeDA. 2 Taylor Dist (30c). 6 Technicolor a50e.. 11 Tech Hughes t40c 7 Texon Ofl & L 60c 3 Thew Shovel a50c 200s Tilo Roof (t50c) 1 Tob Prod Exp 15¢ & Todd Shipyd (12).100s Tonopah Belmont. 385 Tri-Contl C war . _ 1 Tr-Lux DPS 120c. Tubize Chatillion. Tubize Chatl (A) - fung-Sol Lamp n. ‘Tung-Sol L pf 80c. Twin-Coach a1.40. Ulen& Co 7% % pt Unexcelled Mfg__. Unit Afr war Unit Corp war.. Unit Gas Corp 104 Unit Gas C war. 16 Utd Gas pf (a3%3). 2 Unit Lt & Pw (A). 49 Unit Lt & Pw (B). 1 Unit Lt & Pw pf 9 Unit Milk Prod(2) 25s Unit Shipyds B 17 Unit Shoe M 2% 50s Unit S Mch pf1.50 30s USFoll (B) (1)—= 7 U S Lines pt 5 U S Radiator U S Rub Reclaim_. U S Stores .- Unit Stores vte___. Unit Verde Ex (1) Unit Wall Paper._ 139 Univ Cons Oil(a1) 1 Univ Prod (a2%3). 50s Utah Apex = ae UtahP&Lpf32.91% 15608 Utilities P& L (d) 19 Util P & L pf (d)-.10008 Utllity Equities .. 1 Utilities Indust'l. 10 Utility & Indus pf. 4 Venezuela MexO. 4 Venezuela Petrol.. 61 Walker Mining.__. 2 Wayne Purnp (500 17 Wentw'h Mf $1.20. 1 Wi¥a Conl & Coke 4 t Au Sup A 14 loo- Wlllml R C (60¢c). Will Oil-O-M asve Wil-low Cafeteria Wil-low Cafe pf.._. Wilson Jon azls. . Wolverine Port C.. Wolv Tube (40c). Woodley Pet t40c. WoolwI"WLtdA 38 Wright Harg te0c 17 Ygstn Stl Door(2) 2 21 Jukon Gold(ai3c) 2 234 Dividend rates in dollars based on last quarterly or semi-annual payment. 'An- Dual Iate—not including extras. cumulated dividend: last nl B Paid this vear . d Companics rebortod 'as being in bankruptcy or in receivership. or being reorganized under the bankruptcy Jet o securities assumed by such com- >, High. Low. 2:55. 6 6 6% 20% 20 20% 142 142 42 11034 11035 110% % W 3 2% 47 w© 28% T % 9k 1834 2 1 1 . 39 2 91y 383 1 544 170 60 193 12} 343y b4 5% 20% e 35 81§ 1815 2 9 1 5 3 6 3 7 1 2 Steel production was back to 80 per | suspension of | Similar conditions were reported | Coincident with the Treasury ses- ‘sxon. the Federal Reserve Board's Open Market Committee discussed the pos- sible effects on credit of the large existing volume of excess bank re- serves. This idle money, over and above the | sum required to be held behind de- posits, provides the basis for credit expansion, and the board has been | concerned lest the present volume— | $2,130,000,000—lay the foundation for !an “unhealthy” credit inflation, The open market committee, which directs Federal Reserve policies in securities, ! tively was to have reached no definite | | conclusions on whether excess re- serves should be reduced. There was no direct connection between the Federal Reserve and the Treasury sessions, but the rise in ex- cess reserves has resulted in part from gold inflows in the past. New Cut Opposed. PARIS, Janauary 27 (#).—Reports that France planned further deval- | uation of its currency were denied | today by Vincent Auriol, minister of finance, who said the government would fight any such move with every means at its disposal. Admitting that there had been | speculations following the devalua- tion reports, the finance minister said: { “We will not permit an agitated gminurity. or any agitators, to im- "4 | pose their will, which is not in con- formity with the collective interests of France nor with private interests of an immense majority of French- men.” INSURANCE STOCKS NEW YORK. January 27 (P —New Security Dealers’ Association ork Aetna Cas (2a) Aetna Ins (1.60) Aetna Life (50a) | Am Equit (1.60) | Am Ins Newark { Am Reins Am Reserv | Am Surety Great Amer (1a)_ Hanover Homestead (1) _ Lincoln Fire = _ Natl Fire (2) Natl Lioerty (.20a) - N Hampshire (1.60) N Y Pire (80a)____ Nor River (140~ Phoenix (2 un Tlnelers Hflb Fire 2). Westchflt!r 11.208) " a—Also extra or extras. &—Declared or paid so far this year, RAILWAY INCOME. NEW YORK. January 27 (#).—Railroads Jeporting 185 net operating income (be- fore fldxe charges and other income) today included: B.lumoreiohln $3 Santa Fe. Lackawan! NOY, & W cm“"x& ontmo BOSTON WOOL MARKET. STON, January 27 () (United Bllles mfifnmm of ~Agriculture). —Scattere sales were closed on_the fine grades o( territory wool in the Boston market. Graded French combing fine territory wool brought $1.07al12. scoured basis. Fine territory wool in original bags moved at mostly 1.05808. scoured basis for Prents combing and at L.0A810 for lots running average to good French combing. METAL MARKET. NEW YORK. January 27 (.—Copper steady: electrolyti spot and future, 15.00: 265, Tin, barely steady: spot A putur 50.00- New “Vork, Tkt sz *Coits, B85, Zine aglet! East St. Louis and future. 6.00. Iro aluminum, lnnmnny aquicksilver, nhunum and wolframite unclnnn MONEY HAB.KET NEW YORK January 27 @.—Call money steady: 1 per cent L day. A offered: rediscount rate, New 1% per cen! —— DOUGLAS OFFER ACCEPTED. NEW YORK, January 27 (#£).—Own- ers of the 49 per cent minority interest of the Northrop Corp. have accepted an offer of Douglas Aircraft for pur- chase of the stock. When completed, the transaction will give Douglas com- plete ownership of Northrop. Holophane Co., Inc.—Common share earnings, six months ended December 31, were $1.30 against 38 cents. A other highly placed officials said the | the purchase and sale of Government i reported authoflw-‘ 23% Worthington Pump 56 Worth Pumppf A_. 180s 96 33% Yale & Towne t60c. 8% 8314 Yellow Tr&C pt a35 122 105 Ygstn S&T pf(5%). 42% 21% Zenith Radio (b50c) 9% 5% Zonite Products 8 Approxiniate Saies of Stocks on the N. Y. Stock Exchange, ing less than 100 shares. floAuuum\i ted dlvlde?nds 4 = anies t e Gornges revort ed in receivership or being 2:16 p.m. Bales— Net Add 00. High. Low. Close. Chge. 5 11 63% 62% 63% 8 45% 42% 45% +2 93 98 +1% 2 9% 88 90 +2 108 119% 119% 119'% ~515 1 T4% 74w T6% + % 5 6214 656 625 +6'5 106 28 2T% 28 + % 10s 13815 13815 1381 —11% 13 8% 6% T8'3 +1' 4115 114% 114% + % 6 34% 34'5 344 8% 84 84 + % Wor (3. T & Coach.. ) Sheet&T .. 850,000 -1 370,000 ven in the above tatle are the sunual cash latest quarterly or half-yearly declarations. t Annual rate—not a Paid this year, Federal Officials Report Huge Cut In Potato Stocks By the Assoclated Press. Merchantable potato stocks on Janu- ary 1 were reported today by the De- 011,000 bushels, compared with 105,- 669,000 a year ago, and 98,253,000, the 1929-1933 average. Utilization reports, the department said, indicated that out of 303,897,000 bushels produced last year in the 37 important producing States 21,025,000 were unfit for food or seed. After deducting the quantity used | on farms and that saved for seed re- quirements, there were 201,210,000 | bushels available for sale for the entire season in those States. STOCK RIGHTS OFFERED BY AMERICAN SMELTING E¥ the Associated Press. NEW YORK, January 27.—Stock- holders of American Smelting & Re- | | fining Co. were notified holders of | | record February 19 wouid have the right to subscribe to 365988 shares of common stock at $70 a share in the ratio of one new share for each five held. The offer was subject to effective- ness of a registration statement which has been filed with the Securities & Exchange Commission covering the proposed stock, which is authorized | but unissued. | Procecds from sale of the additional stock., the company announced, will be used principally to retire outstand- ing 6 per cent preferred stock on June 1. i -~ [SHARP GAIN REPORTED BY WESTERN PACIFIC BY the Associated Press. SAN FRANCISCO, January 27— | | Western Pacific Railroad Co. reported the best December in its history fxom | the standpoint of net railway oper-| ating income. Net from operations was $312,205, | an increase of 373 per cent over De- | cember, 1935, when net was $66,008 For the year, operations netted $111,985, compared to $669,601 of 1933,‘ but an improved showing when con- | sideration is given $1.585.530 extraor- | dinary expenditures for maintenance | of way, structures and equipment. | Gross operating revenues rose to $1.- | {452,690 in December from $1.042,209 of December. 1935. Gross for the full year was $14.959.900 against $12,-| 899,996 in 1935. Washilgton‘Ex—change . SALES—AFTER CALL. | Washington Gas Light—13 at 85. [ | City & Suburban 5s—$1,000 at 87, | $1.000 at 87. | Capital Traction 55—$1,000 at 94!, 1 Riges Natioral Bank com—3 at 355 | Bid and Asked Prices. BONDS. | PUBLIC UTILITY, <ked. Amer. Tel. & Tel. 4lis A Anacostia & Pot. 5s. ¢ 78 Ana & Pot. Guar. C. & P Tel of Va Cap. Traction R. R 2413 City & Suburban 5s a8 Geometnwn Gl! lll Bs. Pot. Elec k 4 10873 h"Gas bs 1938 2 Wash. Gas 5s 1960 sl Wash. Rwy. & Elec. 45- MISCELLANEOUS. Col Country Club 5'2s ___ 105 . M. Cold Storage 5s.___ 100 STOCKS. PUBLIC Amer. Tel. & Tel. (9) Capital Transit Co. 23 N. & W.Steamboat (g6)" lrot El. Pow. 6% pfd. (6.00) Pot. E P. 5137 Df. (5.80)- Wash.'Gas Lt Co. (3.60) Wash. Ry. m. & Savings (a6) Liberty 2 Lincoln : 2 Nat._Sav. & Tru 140 Er. Georges Bk. SR Riggs (8) 2 345 Riegs pfd. (5) - = b-mm Washington (6) = Wash. Loan & Tr. (e§) . ..5(! FIRE INSURANCE STOCKS. American (6)___ Corcoran (5), Firemen's (1.60) National Unicn (.60)_ TITLE INSURANCE STOCKS. Columbia (30) _____ Real Estate (6)_ ______ MISCELLANEOUS STOCKS. Carpel Corp (2.00) e Lanston Monotype (4)_ &9 Mergenthaler Linotype. (1) r. S, t. M.&G. Df. Eecunu Sr.oule Ref. & Wh. Corp. Wawd- & Loth com. Wdwd. & 0) Loth. pfd. (7). *—Ex dividend, '—P]us extras. §—50c_paid May 15. 1938: 50c paid Au(xst g5 4836 Foc btk November 10, 93 1% extra paid Dec. 1 **25c paid .Yune 30. 1930 166 paid December e CHICAGO LIVE STOCK. CHICAGO, January 27 (@ (U. 8. partment of 'Agriculture) —Hogs, including 5.000_direct: general barely steady: in instance: lower than esday’s aver: following shade higher opening: early top. 10.30: BUIK® go0d " ang_ enoice 1A0-300 pounds. 10.10810.20:" few ‘good sows. 9.4089.65: lightweigh .75, Cattle. 11.000: calves. 2.000: medium weight and' weighty fed ~steers 15a25 lower: yearlings steady to off: gt to near-choice steers predominating in run: practically nothing done: all buying interests apparently avoiding high prices weighty steers unless strictly choice: com- mon and medium grades weak to 25 lower: light kinds off most: early top yearlings. prime hes y hel 1300 ractical top fed heifers. 10.00: Viitatde on eavy sausage . 8.50: selected vealers, 12.00. mosfily Gown ‘at_the close. Sheen 31000 ineloaimg 1,100 Girect: u' 1ndlenlom afound steady: Jittle changed: R lambs b 0.35210.! now asking 10.60a10.65 Ind 10ove Tor chotce n-nag | weights: native slaughter ewes 5.00a6.00. ANALYSIS PREPARED. NEW YORK, January 27 (Special). —Distributors Group, Inc., New York City. have prepared a statistical study of Prudential Investors, Inc, and General Public Service Corp. covering the period 1930-36, inclusive. A partment of Agriculture to total 78-/$3,12 Per Share Compares | ter ended January 15. | Beason, president of Quarterly EQUITY REVEALS BlG ASSETS GAIN With $1.58 at Close of Previous Year. Special Dispatch to The Star. NEW YORK, January 27.—The an- nual report of the Equity Corp., an in- vesting company, copies of which are being mailed to stockholders, shows | net assets of $3.12 per share of com- | mon stock on December 31, as com- pared with $1.58 per share on De- cember 31, 1935. Total net assets were $32,388,113, be- fore deducing the face amount of as- sumed debentures, which figure may be compared with $25,620,586 on De- cember 31, 1935. The report shows the simplified cap- ital structure of the group, the prin- cipal investments of the Equity Corp., in addition to $15,347,027 in cash and general market securities at market quotations, consisting of 50 per cent | of the common stock of American | General Corp., an investing company, and 36 per cent of the capital stock of | General Reinsurance Corp, Quarterly Income. In a preliminary report for the quar- 1937, Mr. Ross In- come Shares, Inc., states that cash dividend income increased 63 per cent over the same 1936 quarter. The gain represented an increase of $322,227.50, from $468,595 for the qQuarter ended January 15, 1936, to $790,822.50 for the quarter just ended. | Gross dividend income for the full 12-month period ended January 15, 1937, amounts to $1997,619.75, as against $1517,12545 for the 12 months ended January 15, 1936. | Massachusetts Bonding. Premiums earned by Massachusetts | Bonding & Insurance Co. in 1936 totaled $14,122,660, an increase of $1,074.504 over the previous year, ac- cording to the annual report. Net premiums written during the year ag- gregated $14,260,143, a gain of 6.2 per cent over 1935. ‘The underwriting profit of $186,132 reported for 1936 is up more than $149,000 from 1935. Investment income (interest, divi- dends, rents, etc.) increased by more than $144.000 to a total of $1,070,018. American Business Shares. Report of American Business Shares, Inc., sponsored by Lord, Abbett & Co., Inc., for the year ended December 31, 1936, showed increase in assets from | $4.346.653 on December 31, 1935, to $7.715.143. During the year the num- | ber of shareholders rose from 6.337 to 9.328 and shares outstanding from | 3.853.685 to 6.039.933. Securities carried in the portfolio were worth $7.418.062 on December 31, 1936, as against a cost of $6,249.171, comparing with a portfolio valued at $4,038,760 against a cost of $3,516,294 ‘ a year previous. SALES CHIEF NAMED FOR TODD SHIPYARDS Special Dispatch to The Star NEW YORK, January 27.—Direc- tors of Todd Shipyards Corp. have elected William A. Maloney vice presi- | W: dent in charge of sales, it was an- nounced. | Francis J. Gilbride, vice president | of Robins Dry Dofk & Repair Co..| has been named a director of the| Todd Corp. and C. H. M. Jones has! been named assistant to the president. At the same time, it was announced, E. P. Enfer was appointed controller, William J. Sammon and Henry Frel- inghaus, assistant controllers, RAIL ISSUES LISTED. NEW YORK, January 27 (Special). | —In their weekly Bond Review dis- tributed to clients and branch offices, | J S. Bache & Co. have attached a supplement listing a group of de- | faulted roads which seem interesting | in view of the generally improved trend ) of railroad earnings. FOREIGN EXCHANGES. NEW YORK. January 27 (#) —Foreign exchange steady: Great Britain in dollars gthers in cents. Great Britain demand. 490, .90, -day 9 0! nel Hongiong 5085 Mexico Montreat'in New Fork. 9.93%: in Montreal. 100.06% n—Nominal. New York | | 888,647, | West. N Y UTILITY EARNINGS MOUNT SHARPLY Commonwealth & Southern Netes $13,349,811 Profit During Year. B tlie Assoctated Press. NEW YORK, January 27.—Prelim- inary consolidated statement of the Commonwealth & Southern Corp. for the year ended December 31 placed net income at $13,349,811, equal to $8.90 a share on the outstanding $6 preferred stock upon which there are dividend arrears. After deducting requirements for full preferred dividends for the year, the balance is equal to 13 cents a share on the common. This compares with $9,406,798, or $6.27 a preferred share and less than 1 cent a common share in 1935, Belding Heminway, The preliminary statement for Beld- ing Heminway Co. for the year ended December 31 shows net profit of $563,- 095, equal to $1.21 a share of common stock. This compares with $542,536, or $1.17 a share, in 1935. The com- pany, makers of silk threads and fab- rics, has headquarters at New York and plants at Putnam, Conn., and Petaluma, Calif. Inland Steel Co. Consolidated net profit of Inland Steel Co., in 1936, as shown by a pre- liminary statement, is placed at $12,- equal to $8.59 a share on the | outstanding capital stock. This com- | pares with $9,417,818, or $6.54 a share, in 1935. M.-K.-T. Railroad. Net income after fixed charges of Missouri-Kansas-Texas Railroad in 1936 was $540,670, an increase of $2,310,869 over 1935. Matthew S. Sloan, chairman, reported. These figures lankcd but $138,209 of covering the | full year's interest of $678,878 on the 5 per cent adjustment bonds. Great Northern. P. Kenney, president of Great Nonhern Railroad, said net income of the road, after fixed charges, in 1936, would total nearly $10,000,000, compared with a little over $7,000,000 | in 1935 Chicago & Northwestern Railway. The Chicago & Northwestern Railway Co. reported 1936 net railway operat- ing income of $5,260,641, highest since | 1933, an increase of $1682,158 over {1935, December net railway operating income was $841,442, compared with $643,292 in December, 1935. DIVIDENDS ANNOUNCED NEW YORK. January 27.—Dividends geclared (orepared by the Standard 8Sta- s Corp. Extra. Pe- Stk.of Pay- Rate riod. record. able. O 36 Inereased. Burroughs Add M c Harmonia Fire xmur Inla; Georgia Home Insur 000D, 00O Om SHORT-TERM SECURITIES. (Reported by Chas. D. Barney & Co.) Bid - 111k 10138 Gonobun Berviea sho Gr. Rapids & Ind. 4}3s Houston Ofl 5'as. 1640 Intl Tel & Tel. 4' ¢ Nash. 5s Central ‘4s 15 Chi. & St. L. 4s 1 rk K 5 Sou. Pac. of Calif. 5 Vinlfllun Corp ash Rwy. Co 36 Warner Bros. 61 1. : Pa. 45 1943 Wettern Union Te1.'3s 1908 NEW YORK. January ° freight carloadings on ra s reporting today for week ended January 23 included: Week Prevxcln‘ul Last Chesapeake & Ohio « Iilinois Central f Nickel Plate Frisco Pere Marquette__ Pennsylvania Norfolk & Western Builder has ground. plans and eon- struction loan promised for #100.000 Apartment House Project. Want part. ner with $10.000 to complete Should sell at big profit or show large return on investment. Address Box 485:B, Star Office. OFFICE EQUIPMENT WE SELL, BUY OR EXCHANGE Desks Steel Files Tables Steel Cabinets Chairs Safes BAUM’S FURNITURE HOUSE 1416 Eve St. NW Phone NA 2184 REAL ESTQS'II'EE&PEAIGS 5]/2% R an SMALL BUSINESS FRED T. NESBIT PROPERTIES. 1010 VERMONT AVE. DISTRICT 9392 ON IMPROVED D. C. PROPERTY Immediate attention on your ap- plication for buying, rebuilding or refinancing. Loans payable monthly. No charge fo, appraisal if loan is not made. Interest charged only on unpaid balance of principal. EQU]TABLE CO-OPERATIVE BUILDING ASSOCIATION 915 F STREET N.W. Organized 1879 U