Evening Star Newspaper, March 16, 1937, Page 17

FINANCIAL 1.5.B0 NDS EASE INLATE TRADING Weakness Brings Declines Among Corpo Bon¢ Net change- Today, noon Prev. day. .- Month ago- Year ago__- 1937 high_- 1937 low__. 1936 high__ 1936 1oy 1932 lo 1928 high Various Junior rate Issues. 1 Avera FIPTN S 10 e Ralls. Indust. Util. F'en Unc. —.1Une. Unc. 95.8103.2100.1 723 95.81033100.1 723 97.3104.0101.7 744 92610241023 70.2 99.0104.4102.8 74.7 95.8103.31000 723 98.2104.4103.1 73.0 86.9101.8 993 67.6 458 400 646 422 1011 98910291005 10 Low-Yield Bonds. Noon . (Compiled by ~1102 Month ago 110.8 1937 high_ 113.7 1936 high- 1135 1928 high_ 104.4 Prev. day. 110.2 Year ago_1114 1937 low_. 1102 1936 low..110.2 1932 low 86.8 the Associated Press) Es the Associated Press, NEW in late bond and carried down various corporate liens Losses in the 2-32ds to 24-3 about matched the sharp decline of | last Friday. YORK, March States Government 16.—United trading today low yield market Federals ranged from 2ds of & point, which | Offerings came into the market in a steady flow in spite of the state- ment of Chairman Eccles of the Fed- eral Reserve ernment detern policies designed to keep money rates low Board indicating Gov- mination to adhere to long-term Top-grade corporate liens like Pa- cific Gas 33;s. Pennsyl ded major low yield divisions activitiy on the decline Some spec higher levels vania Pacific Telephone 314s | 4.5 | In all the | increased | General fractions. ative the best showing A INVESTING COMPANIES NEW YORK March s A Security Dea. 0000020002 200 ir ¢ fion Ho \mmp Group e Py Wellington F P —New York issues weakened | ratings reached | with convertibles making | Canada il4s’45 THE EVENING STAR, WASHINGTON, D. C, TUESDAY, ¥ IAR JH 16, 1937, FINANC 1AL, BONDS ON By private wire direct to The Star, TREASURY. High. Low. 100,10 100, 108.17 103.4 10219 102.8 1029 101.28 1029 101.26 105,20 108.6 105.16 106.1 105.21 105.6 106.9 105.28 106.21 106.12 106.18 106.6 106.24 108,21 106.16 106.9 106.17 106,17 1116 111, 11219 1128 112.8 41 8-3% 8 1943-45 106,18 106. 106, €38 1047-52_____ 117.18 117.10 117.10 FEDERAL FARM MORTGAGE. 285 1942-47 102,20 102.20 102,20 7 381947 108,20 103.20 102,20 351940 _ 103.24 103.8 108.10 |3%s 1964 104.10 104.10 104.10 HOME OWNERS' LOAN. 2148 1942-44 100.12 100,12 100.12 2%8 193949 101.2 100,20 100.20 102,81 102.17 102.17 FOREIGN BONDS. Abitibl Pa&Pw 5! Agr Mtg Bk Col 63’48 Akershus 6s 63 Antioquia Ts 45 A_. Antloquia 7s'45 C Antioquia 1st 78 57— Antwerp 58 ‘58 Argentine 4%s ‘71 Argentine { }4s 62 Argentine 6’67 A~ Arsentine 6s'58 B Argentine 65 '60 May Arzentine 6359 June. Argentine 6s 59 Oct _ Argentine 65 60 Sept_ | Arcentine 6s °60 Oct | Argentine 6s ‘61 Febr. Argentine 6361 May . Australia 4%s ‘56 Australia 6555 Belgium 65 Belgium 7s 2:55. 100, 103.4 102.8 101.28 101.26 103.9 105.1 105.6 105.28 106.12 106.8 105.22 106.12 106,17 111, 2145 1949-53 2745 1950-60 351946-48 35 1951-65 3149 1946-49 3148 1949-52 333 1944-46 3%s 1940-43June 3% 1941-43 Mar 3% 81943-47 338 1946-56 45 1944-64 2:55 9244 26 9944 154 161§ 13% 10014 9814 1014 10134 100%; 102 { 100% 102 102 1024 10134 10174 993 1043 108% 1167% 184 20 “ @n a2y B0k 10134 8 100% 102 102 10234 101% 102 99 . 10475 . 108% . 16 189 20 iy 45ty a2 50b9 Brazil 78'52 . Brazil 8s 41 Buenos A C 6%s'55 Buenos A 414876 Aug Buenos Aires 4%3-3%8"TTPY____ Buenos Alres -48%5°76 April . 7867 July cnapon oft 8 % 8% 24% 9834 ¥8l4 1054 1% 22% 23 22y | Canada 3%s 61 \L’\flzvl-\ 48'60 | Canada 65 °52 ]Ch!le 65760 Clile 68°61 Jan | Chile 6561 Febr. Chile 63 ‘6 | Chile 6563 Asked. IChlle 842 31,95 39.75 Shrs o DIVIDEND NEW YORK. March 16— elared tics (prepared Corp.): S ANNOUNCED Dividends de- by the Standard Statis- Extra. Br & Distl Vancouver 10c Ch St Inv Tr Bel n I 10c Gt Southern Lumber 506 West Point. Mfs In cruud, Peninsular Tel St Touis Nat St v Wolverine Tube Falstatt Brew cv pf 3c Fifth Ave Husseks Van Camp Milk ds 100 20¢ Initial. s c Q B Accumulated. Greif Bros Coopg Ry P G & E 7% Brewer (C) & & Distl Vanco ug Crown Drug 7% Detroit Edison Gt Southern Lumber Gt West Life Assur Greif Bros Coope A Kansas l"nur\T pt Travelers Insur Camp Milk $4 pf | <t Point Apex Elec 7! Briggs Mfg pf A 50c educed. f $1 Regular. So Ltd $1 uver 40c s S1 200 0900 00 O 000D CHICAGO PRODUCE. CHICAGO, March 16 25: White R barebacks. 1 roosters o Eggs. 3 eipts. 22: 'storage packed.”extras, storage packed, firsts. Potatoes. 83: on_track States shipments. supplies Ba Burbanks. uality 2: turkeys, hens. No. | per, hundredw ight: No. 27 15a, : Leghorn 25: White Rock. ; colored broil- Plymouth Rock, roosters, 13: Leghorn 21: old toms, 2 turkeys. '15: ducks, white and_colored. 2 17; geese. 14: than 7 —Poultry. ock. 9 : creamery, extras (9 34%4a35; andards (90 16.881; cars, cars, soecigls 35 firsts (88- centralized firm: extra fresh graded current re- 2434 361 total United d stock, dull and demand _slow, Idaho Russef 8;50, agoording 73 libe 1, 3 U lisset Burbanks. combinaiion Colorado Re U commer set Rurals. U.'S 215, No ad w Father libéral. demand ver: ci carlots, track sals Bliss Triymphs. 15 75 TONS d McClures, U. S. s, 2.80-3.00: Wisconsin o 1. few sales, Feial, 2.00; Michigan Rus- N fair quality, “Cobblers, : less than Florida 1. few sales few’ hen\y packs, 2.20 es. bushel OF LEAD SOLD. | | | | = | Chile Mg Bk 6561 | Chile Mts Bk 614857 | Chile Mtg Bk 6%s 61 | Chilean Mun L 7s §0_. | Colombia 68 61 Jan_ Colombia 6s 61 Oct Covenhagen 4%s '53 | Copenhagen 6s 52 Costa Rica 8 A ‘51 | Cuba 6348 45 s | Czechoslovakia 8851 | Czechoslovakia 8s '52 Denmark 4145 62 | Denmark 538 '55 wl)nmlnlc 2d 6% s 40 Dominic 18t 5% 8 42 Frameric In 715542 _ French Gov 738 41 Ger C Ag Bk 65’60 Oct Ger Gen Elec 65 '48 Ger Gov bl%s ‘65 8t Ger Gov 5% 65 unst. Ger Rep 78 49 stod Ger Rep 7s 49 unst _. | Grt CEl Jap 6%s '50_. | Grt CEl Jap 7844 Halti 6352 | Bung Con M 7546 | Hunz Con M 7%s 45 unmat counon on. .. Italy 78 61 Japan 63%s '65. Japan 6%s ‘64 ._ Kreug&Toll 5859 cts Medelin 6%8 ‘64 Met Wat 512850 Mex 48 ‘54 asst Mex 4s°10-'45 asst Ige Mex 45 '10-'45 asst sm Mex 65 '33 asst lge._ Mex Ire 41,843 asst_. Milan 635 52 Minas Gers6 s '58 Sept coupon off MinasGers 638’59 Sept coupon on Montevideo 78’52 New So Wales 5858 Norway “%s'65__ Norway 414856 Norway 68 43 Norw Hy E15%s'57 Oriental Dev 6s ‘53 Oslo 4% 65 Oslo G & E 5863 Panama 68 63 stp as Paulista Ry 7842 _. Pernambuco 78 47 Sept coupon off .. Peru 68’60 Peru 6s '61.. 10234 100 1024 1047 1013 8% 90ty lOI/i Porto Alegre T%s July coupon off Rhine W E1 P 6555 Rio Gr do Sul 6868 June coupon off Rio Gr do Sul 78 '67 June coupon off ___. Riode Jan 6%8 63 Aug coupon off Rio de Jan 8546 April coupon oft Rome 63552 Rumania 7s ‘49 Aug coupon off Sao Paulo St 7a°40___. Sao Paulo St 78 ‘66 Sept coupon off Serbs 78’62 unm ¢ o Serbs 8 ‘62 unmeo _. Shin'su Bl P 6%s°'52__ Silesian Bank 6547 Stlesta Prov 7s '58 Tokio 6%8 61 Tokio E L Ltd 6s 53 Tyrol Hy El T%s '56 Ujigawa EP 75 45 Uruguay 6s 60 Warsaw 75 '68_ 29% 3184 86 8444 a2y % 79 100 8734 6634 424 42l 42 DOMESTIC BONDS. Adams Express 48°47 104% 104% Adams Express 4s 48 104% 10434 Ala Grt South'n 45’43 109 109 Alb Per W P 65°48 71% 7134 Alleg Corp 58 '44 _ 983 8% Alleg Corp 55 49 _ 9315 9814 Alleg Corp 68’50 stp__ 68 68 Allled Stores 4%s ‘51 100 100 Am & For Pw 602030_ 80 80 Am Icecv bs 53 95Y 96% Am1GChb%s 49 10834 10834 Am Intl 5%8 49 10634 1053 Am Tel & Tel $%m'61. 98% 983 Am Tel & Tel 3% 8°66 98} 9834 AmT& T 4%8 39 106% 10634 AmT& T 6%s 43 1138Y 118% Am Writ Paper 68 ‘7_ 881y 8244 Am Writ Pa 6= 47 cfs 88 83 Am Writ Pap 6s'47 stp 84% 84% 8474 Anaconda deb 4% s *oy 10b%§ 10634 10!)% Anglo-Chil Nit 78°67_. 41 40% Armour & Co %8 °39_ 108} 103%5 mn Armour(Del)1st 45’55 974 97}4 97} Armour & Co Del 48 57 9744 973§ 97% Armstrong C'k 45°50_. 1063 10534 1053 A T&S Fe gen 48 '95 _ 1093 10934 109} AT&SFead)4s'95st. 104 104 104 A T&S Fe 4% 48 1083 10814 10814 AT&SFeCA 4% sz 2% 12 112 Atl Coast L 18t 43 1013 1013 1013 At] Coast L clt 48 5: 05l 963 9BY AtIC Lun4%s’64___ 96% 05} 983 Atl Coast Line 65 45__ 105} 105 106 Atlantic & D 48°48_ 66% 66 56 10444 104% 109 713 983 9834 8 100 80 95% 1084 10636 981 9816 1068 113% 8814 88 noon u N Y. Balto & O ref 58’95 A. B&OG6s 96 F B&Oref 682000 D B&Oref6s'95C_. B & O Swn 6850 Bang & Aroos cv 4s'51 Bang & Aroosis’'43 Bell T of Pa 68 48 B Beth Steel 3%8'66 Beth Steel 438 60 Bos & Me 4% 5’61 J. Bos & Me 6865 Bos & Me 5s '67 Boston N Y A L 4856 Bot Con M 6%s ‘34 Bklyn Ed con 33, #'66 .. Bklyn Man T 4%8s 66 Bklyn Un Gas 5845 Bklyn Un Gas 5850 Bklyn Un Gas s ‘57 B Buff R&P con 434857, Bush Term con bs 'G5 Bush Term Bldg 63’60 Camag 7s 42 ctfs Canada So 6862 A Can’'dian N R 434856 Can'dian N R 4 57 . Can'dian NR 4% s Can’dian N 5869 July. Can'dian N £s569 Oct__ Can'dian P db 4s perp. Can'dian Pac 4%s "46_ Can’'dian Paoc 4%s '60. Can'dian Pac 68 '54 __. Cent of Ga con s '45 Cent of Ga 6s 59 C _.. Cent INE& G 68’61 __ Cent N England 4s"61. Cent of N J gen 5587 _ Cent of NJ gn 68'87rg.. Cent Pac 1st rf 4549 . Cent Pac bs ‘60 Cent RR B (’a 63 '37 Cert'd deb blgs ‘48 Champ P& F 4%s"50. Chesap C cv bs 44 Chesap Corp 68 47 _ Ches & O 8%s 96 D.. C&Ogen 4%s'92_ C & Ocon bs'39 Chi & Alt ref 3849 ChiB&Qrefbs'71 __ Chi B&QI div 8% &'49_. Chi & E 111 58°51 Chi & E 11158 '51 ctfs. Chi Grt West 4859 _ Chi | & L gen 5566 CMStP4s'89 _ CM&StP gn 428’80 C. CM&St P 4115'!(!‘ E CM&StP&P adf 682000 Ch &NW gen 31,587 _ Chi & NW 4338 Chi & NW 41582037 C. Chi& NW 488 49 __ Chi & NW rf 682037 _ C&NW Nr W 83 Chi R I&P rf 4334 . Chi R I&P rf 48" Bdc[f, Chi R I&P 4% Chi T H&S Inc 65 60__ Chi T H&S 1st 5860 Chi Un Sta 4s '63 Chi & W in con 455 Chl& W Ind 43862 Cin Un Ter 3158 D gtd Cin Un Ter 5s 20! CCC&St Lt 4158 CCC&St L ref 65 ‘63 D CCC&StLCW&M 48'91 ClevEl [113%8°65 . Clev Un Tel 4%s 77 Clev Un Term 5873 B Clev Un Ter 5%s ‘124 Colo & So 43880 Columbia G & E deb 58°52 April Columbia G & E b8 ‘52 May Columbia G&E 53’6 Colum Ry P&L 4565 Comcl Credit 3%s '51_ Com Inv Tr 318’51 Conn R&L 43:8'51 stp Cons Coal Del 58 60 Cons Ed NY 3%846n Cons Gas NY 4345 '51. Consol Ofl 33 ‘61 Cons E4 NY 3%8 56 n Ccnsum P un 3%s 65 Consum Pwr %5 66__ Cons Pwr 3%s 70 Container deb 6343 Container 6346 _ Crane Co 3%s ‘51 Crown C &S 45’50 Crown Will P 68 Cuba RR 18t 68 % Cuba Northn 5%s '42_ Dayton P&L 3%s *60 Del & Hud ref 45 °43 _ Dol P&L 4%s Tl . Den G & E 55 Den & G con 48736 - Den & RGW 68'55asst_ Des M&Ft D 4835 cfs. Det Edison 314866 Det River Tun 4%5'61 Dul SS& At58'37 __ Duques Lt 4%s '57 B_ ET V& Gacnb5s56 _ El Paso Nat G4%s'51_ Erfecv 4s'53 B Erfe cons 48 '96 Erie gen 4896 Erieref 5367 Erieref 65°75 Erie & Jersey 65'5 Fairbks Morse 4s'56__ Fed Lt & Trac 65 42 _ Fla B C Ry 6s 74 ctfs Fond J & R ¢s 32 filed Gen Am Inv 5862 ___ Gon Mot Acc 35 46 Gen Mot Ass 3%s '51_. Gen Cable 638 47 Gen St] Cast 534549 __ 15 Goodrich 43856 Goodrich 6545 __. Goodyear T&R 68 °57 . Goth Silk H 5546 ww.. Great N Ry 48 46 G Great N Ry 4846 Grt NRb%s"' 52 B Green Bay 6s 62 B. Gulf M & N 63°60 Gulf M& N 6%s'50 Gulf Sta St15%8s 42 _ Gulf States Utll 4566 Gulf States Ut 434 8'46 Har Ry PC 1st 48°54_ Hock Val 4%s°99 Hoe (R) 1st mtg 44 Hudson Coal 6362 Hud & Man inc 68 '57... Hud & Man ref 68 '57_. 111 Bell Tel 838 °70___ I11 Cent 3%s '52 I11 Cent col tr ¢s°52 111 Cent 4% 8566 I11 Cent Cairo Br 4s'50 111 Cent Ltch 3s '51 111 Cent Omaha 38 '51._. ICC&StL N O4148°63 Il CSt L&N O 5851 ICC&StL N O 68 63 __ 111 Steel deb 4% s '40__ Inland St13%s 61 Int RT 1strf 68°66 . 1R T 1strf 58’66 ctfs. IntRT 6s°32_. IntRT 78°32. IntR T 78°32 ctts Int Grt'Nr 6862 A_... Int Grt Nr 68'66 B Int Grt Nr adj 6s'62 Int Hydro Elec s '44_. igh. Low. 2:55. 92 905 91 1025 106% 11234 - 114 n7% 9534 104 10035 1005 11634 108y 107% 8934 6815 67 82 116 1113 11134 110% 113% 1143 116% 9214 103§ . 1024 104%% 960% 1004 105 67 1067 106 1057 10274 101§ 984 1004 10235 1083 983 10534 1043 6814 92 903 91 10234 1064 11214 114 n1% 96y 10434 108% 107% 39% 2134 116% 10835 43% 2y vy 2214 633 66 66 70 3344 1013 1004 103 10235 1048 1108 92 9015 ” 1028 1053¢ 1124 114 nY% 958 1043 8314 90 883 283 36 100 100 4 102 1043 9685 100 108 6614 10514 106 i 108% 10274 1015 983 10014 10234 1081 9814 1061, 1043 673y 64 10234 y2% 105% i 107% 118 102 102% 17% 6 101 4 102 Int Mer Marine 6s "41_ 1 Int Pap 1st 68 '47A _. Int Pap ref 6s 56 Interlake 68 '61. . ... Int T&T cv 4%s’39__ Int T&T 434853 Int T&T 6365 lowa Cent 1st&rf4s'51. James F & C4s°39 ___ Jones&L Stl 414 8'61A Kan CFS&M rf4s'36ct Kans C So 1st 38 60 Kans City So ref 6s ‘50 Kan C Term 1st 4s "60. Kresge Found ¢s"45__. Laclede Ga: 39 . Laclede Gas 6342 B__ Laclede G 6%s'63 C__. Laclede G 5%s 60 D__ Laclede Gas 6s°42 A._. Lautaro Nitr 6s'64 Lautaro Nit 6s 64 cfs_ Leh C&N 4%5 54 C. Leh Val Coal 6864 Leh V Pcon 482003 __ Leh V Pcon 4%s 200! LV NY 4%®#'40 Leh V RR con bs ODSA 100% 10634 9334 98% 108% 108%5 10334 13214 10924 105 106% 11634 12% 1015 106 9834 10034 104 98% 10634 % 10234 101§ 98y 10044 10234 108y 9814 105% 10434 5714 54 102% v2l4 10534 1073 5% 20 11 10234 114 62 1084 1154 103 8874 9934 86 85 85 1183 102 1024 174 6 101 102 100% 10634 9314 981, 106% 108% 10834 138 110 105 10634 116 127 10134 105 99 10034 104 9514 115 9 AT 603 60 581§ 58 1063 10634 1063 102 102 102 @Y% ey ey 2 101 65 67 2 101 [ 66 @ 101 65 66 8% 784 8% 10134 10134 10134 80} 79 795 #| New Orl T&M bs High. Low. L & Nash 3%s 2003. L&N 1stés 2003 94 94 STOCK EXCHANGE 2:56. "o 99%% 9944 99% 1078 107% 107% 10834 10834 108}5 Louv & N F&S 6537 Me C RRclt 4845 A Me C RR gn 4% ~'60A . Manati Sug 7%s 42 Man S1st 7% 542 ctf; Manhat Ry 48’90 Manhat Ry 4890 ctfs. Manila RRST4s°'30__ Marion St Shov 6s "'47. Market St Ry 7840 A_ McCrory Stores 5861 Mead Co 68°45 Met £d 18t rf 4%s 68 Mich Cent 4%s°'19 Mil El R&L 6s ‘61 MilER&SLrf Mil Spa & N W 4 MStP&SSM cn 4s ‘38 __ MStP&SSM cn 68°38 . MStP&SSM bs "38 gtd. MStP&SSM rf 65 46A. Minn& SLrf4s'49 _ Minn & St L 68’34 ctfs. Mo K & T 1st 45 '90_. MoK &T ¢%5°78_ MoK & T 685 ‘62 A _ MoK & T ad) 68 '67 Mo Pac 4875 Mo Pac 5877 F. Mo Pac 68'18 G. Mo Pac 6s'80 H.__ Mo Pac 55 '80 H ctfs. Mo Pac 68’811 __ Mo Pac 534849 A Mob & Ohio 4%s 77 Mob & Ohio 5538 Monong Pub S 6s'65 Monong Ry 1st 48 '60_. Mont Cent 5537 Mont Pwr ref3 3,s'66 Mor&Essex 3% s 2000 Morris&Issex 418 ‘65 Morris& ex 68 '55 .. Mutual Fuel G 55'47__ Nassau Elec 48'51 gtd. Natl Dairy 3% s'51ww. Natl DisPC w45 _ Nat R M 4%s'26 asst_ Nat Ry Mex 418’57 as Natl Steel 43 65 _ New Eng RR 4545 New E T&T 4%8°'61 New E T&T 1st 68°52. New Jer P&L 4%s 60 New OrlGNR 68 ‘83 A_ New Orl P S 6562 A__ New Orl PS8 68’55 B New Orl Ter 1st 48 '53. New OriT&M 4%s New OrlT&M inc5. B. New Orl T&M 5856 C. New Or] T&M 58 ‘54. NOT&M 5% 5'54A cfs. NY Central 334897 Central % s 46 Cent con 4s 98 NY Centrf 41,8 2013_ NYCrf4%s2013n NY Centrf 58 2013_, NY Cent cv 6s 44 NYCL Sh33;s'98 tL 41,878 NYC&St L 6874 A_. NY Chi & St L 6538 _ dis ref 3148 66 _ ¥ Dock 5s 38 = G El H&P 5848 _ ' & Harl 318 2 NH & H 4s ‘67 NH & H 4145 '67 Y NH & Hev 6848 _ O&W ref 48 42 ¥ Prov & Bos 4s '42 ¥ Rys inc 68 65 NY Rys 6s 65 A stp Y h G 6351 Y S&W 2d 435837 S&W 1strf 6s’3 Y S&W gen 5540 __ Steam 1st 65 '47 NY Tel gen 43%s'39 NY W& B 414346 Niag Niag Norf S 1st rf5s'61 cfs_ Norf & W 1st 4s'96 __ North Am Co 63 '61 __ North Am Ed 58 69 C_ North Am Ed 535 '63_ Nor'n Pac gen 35 2047_ Nor'n Pac 48 '97 Nor'n Pac 4% s 2047 Nor'n Pac 5s 2047 D North Pac 63 2047 Ogden L C 4848 Onto Edison 48’65 __ 105 10734 89 1118 2814 108 1124 1169 106 §T14 Ore: W KR $561 Tac Gas & E13155°66_ Pac G & E3%8°61 102 PacG&E48'64 ____ 1064 Pac RR Mo 1st 48°38__ 10114 Pac RR Mo 2d 55’38 _ 10214 Pac T&T rf 318’66 B_ 101 Pac T&T 338’66 C___ 101 Pan AmPC6s 40 __ Pan Am PC 6540 ctfs_ Para Broadway 3s°'55_ Paramount Pic 6855 Park-Lx 63%5'53 ctfs_ Penn Co 3,541 B Penn Co 4563 _ Penn Dixie C 6841 Penn P&L 4348 81 _ Penna R R31s w.i Penn RR 3%s 70 Penn RR con 4s'4 Penn RR 4%s ‘81 D Penn RR 4%s'84____ Penn RR gn 43865 __ Penn RR deb 4%s'70_ Penn RR gen 6s 6. - People GL&C rf 5847 Peoria & E 18t 48 '40__ Pere Marq 1st 48 '56._. Pere Marq 4%s'80_ Pere Marq 1st 68 'G6.. Phila B&W 4148’77 Phila Co 68 '67__ Phila Elec Co 4871 Phila Elec Co 4%8’67 Phila & R C&1 68'73_. Phila & R C&l 49_ Philippine Ry 4s 37 Pillsbury F1 M 6s '43 PCC&StL 3%s'49 E_ PCC&St L 68’70 A PCC&St L 6875 B Port Gen El 4%s 60__. Postal Tel & C 68°53__ Potomac E1 P 3% 8'66. Pressed Stl Car 68 '51_ Pure Ofl 4%& 50 ww__ Pure Oil 4% 850 xw__ Purity Baking 58 '48__ Reading Jer C 4 Reading R 4%s Rem-Rand 4% s'66ww. Republic Stl 4145 '650__ Republic Stl 4% s ‘56 Republic Stl 4368 61__ Republic St16%s '54_. Revere Cop 414 s '56. Richfield Oil 65 ‘44_ Richtield O 65’44 ctfs Richfield O1l 65 '44 stp R1A&L 18t 4358°34 RG W 1st exin 48'39_ Rutland RR 4%8s°41__ Saguenay Pw4% 66 StJo Ry L T&P 68°'37. St L [IM&S R&G 48’33 St L-S F 48 '60 A ctfa. St L-S Fran 4%s'78 StL-SF 4%#'78 cf st_.. St L-S Fran 6s'60 B__. St LS W 1st ter 58’563 StLS W 2d 4s'89 StLSWgnrfs StPKCSL4%s 41 St P M&M ex 4s5°'37 St P M&M ext 5843 _. St P Un Dep rf 6872 San An P Svc 68°62 A_ San A & A Pass 4843 Schulco 6%s 46 B stp. Seabd A L 43’50 stp _ Seabd A L ref 48 '69 Seabd A Lirf 4s°69 cfs Seabd A Liadj bs 49_. Seabd A L 6845 A_ Seabd A L 45 ctf: Seabd A-F'1 62’36 A ct_ Shell Un deb 3348 ‘51 Silesian Am 41 Skelly Ol 48 '51 Socony Vac 3%s'50_ Southn Cal Gas 48665 Southn Cal Gas 434 ‘61 So Colo PWr 6547 A__ South Nat G 434 8°51_. SoPac3%s 46 . So Pac col 4849, 8o Pac ref 48 66 ceee SoPac 438’68 e 1058 10815 10134 115%4 1048 1063 108% 99% 100 93 93 8334 783 T4k 107% 1063 ‘101 48% 1143 603 108 1083 6% % { 104 1% 18 121% 10634 9644 104 108% 105 9934 1013 101% 101% 103% 1084 108%% 8834 % _5%% 8% “ 923 9814 102 104% 1068 109% 10434 1084 1004 6234 1204 106 10734 31, 494 531 3214 101% 6074 10534 10734 10834 10815 10834 1053 10534 9% 99% BUSINESS LOANS [AR. SHOW BIG GAIN Further Decline in Bank Holdings of Federal Securities Revealed. BY the Associated Press. The Federal Reserve Board re- corded a substantial rise in loans to industry, commerce and agriculture and a further drop in holdings of Gov- ernment securities during the week ended March 10. The board’s condition statement for 101 citles showed demand deposits of $15,649,000,000, an increase of $148,- 000,000 during the week, apparently reflecting a tendency to build up bal- ances to meet tax payments. Reserves with Federal Reserve banks climbed $71,000,000, to $5,242,000,000, due in part to withdrawals from domestic banks totaling $38,000,000. Loans to business, agriculture and industry, regarded as an important index of credit demand stood at $4,- 253,000,000 on March 10, $62,000,000 over the same week last year. The trend of these loans has been | generally upward since the first of the a new 1937 high Loans on real estate rose $3,000,000, to $1,152,000,000, but banks dropped off $5,000,000, to $81,- 000,000. Holdings of Government obligations, which have been declining for more than two months, fell $48,000,000, to $10,227,000,000, or $392,000,000 over the same week last year. Washington Produce med rouzhs. teady showing_scald h minimu 1.50a1 i 1.35a1.40 uflrx Twiss, Low 1 ABBAGE—One ¥ 3 broken and one unbroken cars on ’.,n -pound sacks, Danish tyme U. S. TREASURY POSITION: By the Associated Press ion, of th 5 expenditures, bai $1.705 3082 is receipts for the 30 811 expendi including = $: tures; excess > ).707.95; gross 52.853.460.90 a decrease of 80 uider the previous day. Gold 11,4 R11R57, including 5 ot imactive gold. High. Low. 2:55. 94 Bl 94 99 99 99 10334 99% 36% 9744 149 1061% 1853 138 1043 98 108 =417 10234 1063 104 683§ 39 - 108 114 119 SoRy M & O 4s'38 So Ry St L div 4s°51 S W Bell Tel 3% s'64 Southw’'n G&E 4560 Spokane Int 5s *55 Stand Of1 N J 3s'61.. Studebaker cv 6845 Swift & Co3%s’50 Symg G&G 5% 8 ww_. Symgn G&G '66 xw. Tenn C&C 68'44 B Tenn El Pw 6347 A__ Term AsSt L 4853 Term Asso con 58" rexas Corp 3% Texas & Pac 658’77 B Texas & Pac 58’79 C__ Third Av ref 48 60 Third A ad in ex 68'66 Truax T C 6%s 43 Un Ofl of Cal 3%s '52 Un Ofl Calif 6842 A Union Pac 3%8s°70 Un Pac3%s'71 _ Un Pao 18t 48°47_ Un Pac 1st rf 48 2008 Un Pac 1st rf 65 2008 _ United Drug 6s°53 _ U S Pipe&Fy 8%5'46_ U S Rubber 6847 _ Utah L & T 65844 (A)_ Utah P & L bs *44 1 Utll P&L 6869 ww__. UHI P& L 5%s 47 Vanadiumcv 58°41___ Ver Sug 18t 75'42 ctfs_ Va E & P 18t ref 48 VaRy 1st 3%8'66 A__ Wabash 434878 Wabash 434878 ctfs_. Wabash 1st 5839 Wabash 2d 68°39 Wabash 6s '76 B Wabash 65’76 B ctfs. Wabash 65 80 D_ ‘Wabash 63%s 75 Walker H&S 4% 845 Walworth 4866 Warner Bros cv 68°39. Warner-Quin 6s *39_ Warren Br cv 63’41 Warren RR 318 2000 West Penn P 8148 "66._. W Sh 1st 4s 2061 gtd . W Sh 1st 48 2061 reg._. West'n Md 1st 4s'62 Westn NY&P gn 4843 West'n Pac 5846 A West'n Pac 58 46 A Westn Un ¢%s '50 Westn Un cl tr 583 West'n Un 68°51 West'n Un 63°60 ‘Wh & L E con 48 Wheel Steel 4% 8'53 9 99 97 148% 106% 183 187 149 106% 185% 137 104 98 108 17 102 104 101% 10184 168 1568 1064 10635 108 108 611§ 61) x 62 62z 1083 32% 1064 1024 421 8814 10134 96 433 40 a3y 443 10934 8614 20% 32 1053 106 42 96 43 393 40 4255 43 48 96 8454 951 96 67 78 67 8 925 10134 102 106 108 108 108 109 109 over the previous week and $871,000,000 year, and the total on March 10 was | advances to | conditions d s 0b. Washing- 1 States Bureau of AgTi- y to kraded extras. dards | sury on March month, | 10335 103} 364 363 9734 1084 1133 1133 10634 1063 11234 1125 10434 10434 10734 10834 1025 102% 42y 381 88l 10134 10134 433 _ 4y 1061571093 Badg 5135 6134 1033 108% 92% 9085 9084 1104 110% 883 8839 374 38% 1063 10634 106% 1058 10034 10034 ARMCO REVEALS FINANCING PLANS Holders Will Be Requested to Approve $60,000,000 Preferred Issue. BY the Assoclated Press. NEW YORK, March 16 —Financing plans to provide $20,000,000 in new capital and retire practically all out- standing indebtedness were announced today by the American Rolling Mill Co., producer of high quality steels, sheets and plates, with headquarters at Middletown, Ohio. Stockholders in annual meeting at Middletown April 15 will be asked to authorize issuance of $60,000,000 of convertible preferred stock, of which $45,000,000 would be issued. The proposal was outlined to share- holders in a letter signed by George M. Verity, chairman, The additional capital was described as intended for: Replacements and expansion of plant operated by the parent company. Expansion of plant of the Sheffield Steel Corp., a wholly owned subsidiary. Participation in establishment of a | plant in Australia for manufacture of steel sheets. Removal of blast furnace and equip- ment from Columbus, Ohio, to Ham- ilton, Ohio. Construction of new research labora- tory at Middletown, already under way. Repayment of bank loans, increased working capital and reimbursement of working capital applied to plant ex- penditures. The capital readjustment calls for refinancing outstanding $21,625,000 of $1,931,000 of 6 per cent series B pre- ferred. The latter has been called for redemption April 15 Dividend rate and other details of the proposed new preferred, it was | tated, will be fixed later as market ictate. ket remains satisfactory, it was ex- ! be not more than 412 per cent “Consummation of this plan,” said Mr. Verity, “would free the parent company of long-term debt. The only outstanding long-term debt of consequence would be a $2,000,000 10- year mortgage and five. of | & Iron Co., a subsidiary. NEW YORK SUGAR Contracts at 4.80 for fine rs. e RUBBER FUTURES INSURANCE THE P OPER for FULL PROTECTION UR | D ).4 Burglary—Windstorm—Fire Furs and Jewelry Tourists’ Baggage Liability (all types) Plate Glass—Automobile Workman’s Compensation Randall H. Hagner & Co., Incorporated Real Estate—Loans—Insurance 1321 Conn. Ave N.W. DE. 3600 Amortlzed Loans for buying, building or refinancing loans on your home made under Federal Housing Act, e Title 2. This bank has made over $2,000,000.00 of these loans. SECURITY SAVINGS AND COMMERCIAL BANK 9th and G Sts. N.W. 1518 K Street N.W. Member Federal Deposit Insurance Corporation. First Mortgage Money For CONSTRUCTION LOANS and LOANS ON IMPROVED PROPERTY in the District of Columbia Nearby Maryland and Virginia 5% 5 per cent sinking fund debentures and | Adpvertising Total Forges Ahea(l To Bpecial Dispatch to The Star. by early Easter buying, retail display udvertising in all newspapers in 77 major cities rose to 20,802,164 lines for the week ended March 6, against 18- 654,522 lines carried in the cor- responding week of 1936. This is & gain of 2,147,642 lines or 115 per cent and is the second larg- est weekly gain reported for 1937, ac- advertising newspaper. The measured cities now show a total of 166,522,367 lines for this year the comparable period of 1936, a gain of 11,909,471 lines or 7.7 per cent. This cumulative per cent of gain is the largest recorded for 1937, the pub- lication stated. CANADIAN NATIONAL REPORTS SMALLER L0OSS dian National Railways reported for 1936 railway operating revenues of $186,610,489, operating expenses of $171,477,690 and net revenue of $15,- 132.799. Taxes, quirements amounted to Interest on funded debt the public was $49,184,622 After provision for taxes, rentals and interest there was a cash deficit of $43,303,393, a betterment of $4,- 118,070 as compared with the preced- ing year. $8,723,988 held by {NEW YORK BANK STOCKS | NEW YORK. March 16 (% —New York v Association as of 2 o'clock.) Bid Asked. |& & G Provided the mar- | F »: | plained, the dividend was expected to | ¢ Trv any | ear bank loans | $1,600.000 of the Hamilton Coke | For Bni]ding, Refinancing, Purchasing Homes TERMS AS LOW AS $7.50 PER $1,000 PEK MONTH SAFETY FOR SAVINGS PRUDENTIAL G, AssoCIATION N.W. 6210 | CHICAGO, March 16—Stimulated | OTTAWA, March 16.—The Cana- | New Year’s Peak‘ cording to Advertising Age, national | REAL ESTATE LOANS RESIDENCE and 5% SMALL BUSINESS FRED T. NESBIT PROPERTIES. 1010 VERMONT AVE. DISTRICT 9392 1937 W of Progress SAFES 1886 Sist Year STOCKETT- HKE ruonucmo rn'non:ns DI E ST to date, against 154,612,896 lines in | Real Estate Loans 5% « 5%% Business Property and Resi- dence . . . Construction or Re- financing Loans ® © @ SHANNON & LUCHS Mortgage Loan Correspondents MASSACHUSETTS MUTUAL LIFE INSURANCE CO. 1505 H St. NN\W. Natl. 2345 rentals and other cash re- | TRUST MONEY FOR REFINANCING LOANS AND CONSTRUCTION LOANS THREE-YEAR LOANS AND 1572-YEAR MONTHLY PAYMENT LOANS PAYABLE $8 PER $1,000 5% No Commissions or EQUITABLE LIFE INSURANCE COMPANY 816 14th St. Met. 3437 Extras - W | 1 \ | 1 | » GOLD AND PRICES The stimulating effect of new gold discoveries upon busi- ness activity and commodity prices has been recognized for centuries, yet the effect on prices of the recent tre- mendous rise in world gold production may be over- looked by many investors. The annual average gold output from 1903 to 1932 wis 19.850 million ounces. In the past two years, average annual gold production has been nearly 33.000 million ounces, and is still rising, to the cerrain advantage of world economic recovery. ¢ Savings He 716 11th Street re Are Prote Insurance up o $5/ COLUMBIA B\IILN“ FENNER & BEANE Members New York Stock Exchange and other leading Exchanges Southern Bldg., 15th & H Sts. N W. National 7000 Interest as Low as 2% Easy Monthly Fay- ts as low 88 50 per $1.000 cted by Federal 000 G ASSOG\I“O“ posite Palais Roys! W. B. HIBBS & COMPANY MEMBERS NEW YORK STOCK EXCHANGE PHILADELPHIA STOCK EXCHANGE NEW YORK CURB EXCHANGE CHICAGO BOARD OF TRADE BOSTON STOCK EXCHANGE NEW YORK COTTON EXCHANGE WASHINGTON STOCK EXCHANGE HIBBS BUILDING * WASHINGTON, D.C. Telephone + National 0540 AtlG & W 158°59 At] Refining deb 5s'37. Baldwin Loco 55 '40. 10435 10434 99% 100% 4434 44y 44y 30 29 29% 34 16235 1683 101X White Sew M 65°40__ Wilson & Co 4856 W Sp Stl con 78 '35 ct - Wis Cent 18t gn 48 °49. Y'ngstriS&T 3348 'BY_ Y'ngstn S&T 4s'61___. Prompt Action B. F. SAUL CO. 925 15th Street Natl. 2100 Ligg & Myers 58°51__. Ligy & Myers Ts "4 Loew's 318 46 Long Isld ref 45’49 stp La & Ark 65’69 Lou & Jeft Bld 45 ‘46— 123 1223 123 181 1808 130% 983 9Bl4 9814 10254 10234 1025 s 97 97 106 *e 106 So Pac Oreg 4%45°77__ So Pac S F Ter 4850 So Ry gen 45’56 A. So Ry 6894 So Ry gen 56. So Ry 6%s '56... NEW YORK, March 16 (#).—The St. Joseph Lead Co. reports that 75 tons of pig lead from Southeast Mis- | B & O 1st 45 48_ sourl mines were sold yesterday at|B& O 4%s 60 4§7.60 per hundred pounds, St. Louis. 4B & O 1st55'48- 101 101 101 10636 1063 10634 1063 1064 1064 s 813 :}u uno o o1l 106% 1063 106% 88) 828 N2y 10874 1083 10834 10834 10834 106 1053 105!