Evening Star Newspaper, April 2, 1937, Page 20

FINANCIAL. STOCKS SELL OFF 5170 §2 0 MORE Steels and Coppers Lead Sharp Decline After Roose- velt Warning. FIN ANClAL.. THE EVENING STAR, WASHINGTON, D. C., FRIDAY, APRIL 2, 1937 TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE 2:15 p.m. “8ales— Net Add 00. High. Low. Close. chge. 21 8% 8% 8%+ W TA=20 kokok LANE T0 ADDRESS |.B. A. CONCLAVE Assistant Gereral Counsel t0 8. E. C. and Other Lead- ers to Speak. BY EDWARD C. STONE. Chester T. Lane, assistant general counsel. to the Securities and Ex- change Commission; Henry W. Ander- 2:16 p.m. Bales— Add 00. 140 By Private Wire Direct to The Star. 2:15 p.m. Sales— Add 00. High, Low. Close. 2 79 8 8 32 19% 20 1 32% 32% 70% T0% 3% 3% 14% 4% Net . Low. Close. chge. 59% 61% 18% 40% 8% 66 24% Prev 1937 Stock and High. Low. Dividend Rate. 9% 7% Radio-Keith-Or () 37% B81% Raybestos M (11%) 3 31% 31 31 —14 47 40% Reading RR (2) 4 40% 39% 391 —1 4% 2% Reis (Robt) _ 3 3 85% 34% Reliance Mfg Co 34 8 =3 29% 213 Rem-Rand (160c) % 24 24% — % 110 100 Rensselaer & S(8) 4 106% 106 + 9% 5 Reo Motor Car 4T% 273 Republic Steel 120% 109 Republic pt (b13) - 110% 99 * Republic pr pf A(6) 48% 3315 Revere Copper 135Y% 128% Revere Cop pt bl% - 30% 25% Reynolds Met (1)_. 247, Reynolds Spr (11) __ 50% Reynolds Tob B (3). 24 % Ritter Dental (1) .. Roan Antel (al.12). e Net | Proy 1037 Stock and Add 00. High. Low. Close. chge. . Low Dividend Rate. 87 -2 56% Kennecott (b50c) - % 17% Keystone S&W b30c 39% Kimberly Clark(1). 5% Kinney (G R) Co. 47% Kinney pf (a1) . 26 Kresge S 8 (b30e) . 22 Kroger Groc (11.60) 21 Laclede Gas (St L). 18% Lambert Co (2) 17 Lee Rubber (50c) . 38% Leh Port Cmt'1% 2% Lehigh Valley Coal. 13% Lehigh Val Coal pf. 17% Lehigh Valley R R.. 137 118 Lehman Corp (13) 21% 18 Lehn & Fink(al%).- 58% 49 Lerner Stores(t2)._.x Prev 1837 Stock and High. Low. Dividend Rate. 95 88% Con C pr pf ww 6% - 49% 39% Cons Edis N Y(12)_. 108 104 Cons Ed N Y pf(5) 5% 4% Cons Film 18% 15 Cons Film pf (a2) 13% 9% Cons Laundries. 17% 15% Cons Oil (80¢) - 7% Cons R R Cuba pf_ 1 ~ 7 Cons Textile (d) - 12 814 Cons Coal(Del)vte_ 12 33 Cons Coal Del vtc pf 3708 20% Container Corp 1.20. 26 27% Contl Baking (A)_. 3 Contl Baking (B) _. 102% Contl Baking pf(8)_ 59% Contl Can (3) 60 38% Contl [nsur (11.60)- 39 2% Contl Motors 3% Prev 1937 Stock and High. Low. Dividend Rate. 801 63% Acme Steel (4) . 22% 15 Adams Exp (a55c) . 36 31% Addressograph (1)- 804 7113 Air Reduction (11)_ 35 Afr-Way Electric 3% 14% Alaska Jun (160c).. 143 37 Alleghany Corp ... 4% 4315 Alleg pf ww $30 52 52 3615 Alleg Steel (b40e)_. 425, 41 225 Allied Chem (6) _ 3 24215 240 2514 Allied Mills (b50c) _ 2 26% 26% 161 Allied Stores (b20¢) 8¢ 18% 17T 81 AllledStrspf (5) _. 2 8213 82 631 Allis-Chalm (b50c)_ 15 66% 65% 301 Alpha Port Cmt (1). 1 341 34% 47 Amal Leather 10 % 6% 20% 324 72 10% 43% 305 30% 4% 103% 109% 110 5814 25812 44 45% —1% 103% Stock Averages 30 15 15 80 Indust. Rails Util. Stks 101 79 3—1.2 #on, co-receiver of the Seaboard Air | Line Railroad; John S. Linen, vice president, Chase National Bank; and George M. John- son, State Treas- urer of North Carolina, are among the speak- ers who will ad- dress the coming Spring meeting of the Southeast- ern Group, In- vestment Bank- ers’ Association X at Southern Pines, N. C, a Chester T. Lane. ek from Satur- day. i The program was announced today by John Redmond, jr., Baltimore, chairman of the Southeastern Group, the statement also being made that a large delegation of Washington in- vestment dealers are planning to at- terd the two-day session. The North | Carolina meeting is similar to that | held at the Mayflower a year ago at this time. The aim of the Spring conference is to get the very latest views on the | bond market outlook, money rates, railroad, municipal and all other se- curities in which the investment bankers deal. Forum discussions will follow the addresses. One or two other especially able speakers are to be added to the program, chairman Redmond states. Bonds Lead Other Problems. Banking, journal of the American Bankers' Association, says in its April issue: “In spite of strikes, industrial ac- tivity has continued to expand under the spur of general business recovery, and Government spending is still an important factor. A similar trend is 'apparent throughout the world, al- though expansion abroad is probably & direct reflection of vast armament programs. “For the present, there seems to be | little that a government or any one else can do to control an inflationary movement which is based upon actual buying for consumption. That is the situation in the United States at the present time. Retail sales, the coun- try over, are ranging from 15 to 35 per cent above the levels of the cor- responding period of 1936. In actual yolume of goods sold, the average is closely aproaching that of 1929. The ¢éarly Easter this year was a factor of o little importance in stimulating the 8easonal rise in sales. “The upward swing of prices, wages, production and business activity gen- erally toward a boom condition, has had a natural effect upon investments. Uneasiness in the bond market, punc- tuated by a rather sharp drop in values around the middle of March, ‘was one of the first indications of the inflationary tendency. The hesitancy that appeared in the stock market dur- ing the month was generally ex- plained by the over-rapid rise in val- ues, especially in low-priced securi- ties. “Prices of many stocks have in- ereased, on the basis of anticipated earnings, to a degree equal to or in excess of what took place in the pe- riod prior to the depression. The use ©f bank credit continues to rise, but the chief question of the moment in the banking field is the course of bond prices.” Reserve Bank Discounts Up. - Discounts at the Federal Reserve| Bank of Richmond rose by $145,000 between the middle of February and the middle of March, but industrial edvances made to industry declined by $285.000, the changes resulting in A net decrease of $140,000 in the bank's #otal earning assets. Federal Reserve notes in actual circulation rose by $777,000 during the past month, a de- ¥yelopment contrary to trend at thls #eason of the year. | Member bank reserve deposits rose by $12,858,000 between February 15 and March 15, approximately half the amount being needed to meet in- greased. reserve requirements which became effective March 1, the Rich- mond bank reported today. Carpel Corp. Declares Extra. ' Directors of the Carpel Corp. have declared an extra dividend of 75 cents per share, payable April 16 to stock- holders of record April 9, it was an- nounced today. The corporation re- cently paid the usual 50-cent quar- terly dividend, as the stock is now on m $2 basis. Carpel Corp. is a food, distributing concern. The stock is listed on the Washington Stock Ex- rhange and was originally distributed ‘mre by Waggaman, Brawner & Co. t is quoted at 21 bid and 26 asked. H. Lawrence Choate, general agent of the Mutual Life Insurance Co. of New Jersey, will give a luncheon at the Hamilton Hotel tomorrow in honor pf Adolph Krechel, who is just round- ing out 20 years’ active service in the dnsurance field. He started in busi- mess in Washington and has always worked here, building up a very large clientele. The presidert of the com- pany, John R. Hardin, has sent a mpecial gift to be presented the honor guest at the luncheon. Bank clearings in the Capital for ghe week ended March 31 totaled $24,436,498.49, compared with $18,- 144,487.22 a year ago, or an increase 160 121 71 104 9034 105% 235 303, 33% 99Y% 131y fl‘a 29 1053, 107 3% 115 26 56 143% 257 187 9 997% 201 29% 107 1434 79 1% 9% 24%, 106 8T8 2111 176% 100 36% 113% 48% 39% 125 107% 41% 24% 115 86% 23% 82 58% 111 6874 100 4% 13% 4 18% 3% of 346 per cent. Compared with a fotal of $22,966,945.87 for the pre- wplous week, clearings here increased B3 per cent. * Today's Trading on Exchange. Ten shares of Riggs National Bank fommon stock sold at 345 on the T% 63 191 33 8% 10% 16% 80 Amerada Corp (2) _ 83 Am Ag Chm Del'bl._ 2812 Am Bank Note (11). 61 Am Bk Note pf (3). 617 Am Brake Sh (12) ._ 1% Am Bra Sh rts Ap 15 125 Am Brake Sh pf 5% 105% Am Can (t4) —- 56 Am Car & Foundry.. 92% Am Car & Fdry pf_.. 72 Am Chain&Cabl.. 100 Am Chicle (t4) - 13% Am Colortype 263 Am Comcl Al a50c. 28 Am Crystal Sug b2. 9612 Am Crys S 1st pf 6_. 815 Am Encaustic 7% Am & Foreign Pwr._. 46% Am & For Pw $6 pf_. 54 Am & For Pw $7 pf_ 20‘4 Am & For Pw 2d pf. Am Hawalian (1) _. Am Hide & Leather. Am Hide & L pf (3). Am Home Pr t2.40__ Am Ice Am Ice pf (2) Am Interntl (a40c)- Am Locomotive ___ Am Loco pf (a3) % Am Mach & F (1) . Am \lach & Met 60c N Y) (3) Am Power & Light_ £ Am Pw & Ltpf (5)_. Am Pw & Lt pt (6) _ Am Radiator 160¢c Am Radiator pf (7) Am Roll Mill 11.20__ Am Safty Raz (12)_ Am Seating (a2%)_ Am Smelt & Ref (3)_ Am Sm & Ref pf(6). 5715 Am Steel F (b50c)__ 110 Am Steel F pf (7) 2115 Am Stores (2) __ 47% Am Sugar (2) 130 Am Sugar pf (7) 21 Am Sum Tob (11 1682 Am Tel & Tel (9)__. 7812 Am Tobacco (5) _ 80% Am Tobacco B (5) .. 16% Am Type Founders_ 2215 Am Water W (80c)_ 99 Am Wat W 1st p (6) 9% Am Woolen 64 Am Woolen pf (b1)_ s Am Writ Paper (d) _ 4'; Am Writ Pap pf (d) 63y Am Zinc & Lead __ 44’ Am Zinc & L pr pf__ 521% Anaconda Cop (1) 84 Anaconda Wire (+2) Anchor Cap (60c) __ Andes Copper _ Armour(Del)pf(7) - Armour (111) blsc Armour (111 pr pf 6. : Armstrong Cork (2). Arnold Cnst b62lgc_ ' Assoc Dry Goods __ 100 Asso Inv pf ww (5)_ 6916 Atch T & S Fe(a2) . 4414 Atl Coast Line(al)_ 24 Atl Gulf & Wst Ind_ 37 AtIG& W IDpf(a3)_ 3015 Atl Refining (1) ___ Atl Refin pf (4) 16% Atlas Corp (80c) 501 Atlas Corp pf (3) __. 7214 Atlas Pwdr (b75¢) . 28Y Auburn Auto .___. Tl Austin Nichols 6% Aviation Corp Del 8 Baldwin Loco (d) 863 Baldwin Loco pf(d) Tix Baldwin asd (d) __ 20% Baltimore & Ohfo _. 33% Baltimore & Oh pf__ 41 Bansor & Ar (2 Bangor & A pf 357 Barber Co (a75¢)__. 25% Barker Bros 2615 Barnsdall (1) 161 Bayuk Cigar t75c-. 25 Beatrice Cream t1 13 Belding Hemin (1)~ 25 Bendix Avia(b25c)_ 205 Benef Ind Ln (bd5c) 73 Bethlehem (all3) 18% Beth 5% pf (1) 120Y% Bethlehem pf (7). 55% Bigelow-San b30c__. 30 Black & Deck bi0c 22% Blaw Knox (b20c) 33% Boeing Airplane _ 41 Bohn Alum & B(3)_ 41% Bon Ami (B) (2 26Y% Borden Co (1.60) 724 Borg-Warner (4)_ 8Y% Boston & Maine 16% Bridgept Brss(60c 45Y% Briggs Mfg (12) 437 Briggs & Strat (3) 4113 Bristol-Myrs 2.40_. 40 Bklyn-Man Tr (4) 5% BKlyn & Queens 27% Bkn & Q T pf (3) 39 Bklyn Un Gas (3)._. 20Y% Brunswick-Balke._. 193 Bucyrus-Erie_ 110 Bucyrus-E pf (7)_ 11% Budd (EG) Mfg 912 Budd Wheel(a20c) 34% Bullard (b25c) __ 51 Bulova Watch (14)- 31 Burr Add M (80c) __. 714 Bush Terminal (d)- 2414 Bush T Bldg pf(d)_ 1312 Butler Bros (b15¢)_ 29Y Butler pf (1%) 5% Butte Cop & Z(abc) - 27 Byers (AM) _ 81 Byers (AM)pf ___ 27 Byron Jackson (f1) 3914 Calif Packing (115). 2% Callahan Zinc-Lead 15 Calumet&Hecla (1). 30% Campbell Wy (t1)_. 271 Canada Dry G Ale_. 14 Canadian Pacific _ 15 Cap Adm (A)(al) 7 Carriers & Gen(b5c) 138 Case(JI)Co (4) _ 851 Caterpillar Tr (12)_ 26% Celanese (b75¢) - 10615 Celanese pr pf A (7). 3614 Celotex Corp . _ 33% Cent Aguire (11%)_ 8% Central Foundry .__. 102 Cent Il Lt pf(4%)_. 30 Central RRofNJ 17 Cent Violeta Sug. 105% Century RM pf(7) 67% Cerro de Pasco (4)_. 16Y% Certain-teed Prd 67% Certain-teed pf (6)_ 3513 Champ Paper (1) ___ 108% Champ Paper pf (6) - 57% Ches & Ohio 12.80 _ 95 Ches & Oh pf A (4)_ 2% Chi & East 11l (d) _. 67 Chi & Est [11 pf (d)_ 2% Chi Grt West (d) 13% Chi Grt West pf (d) 2 Chi Mil St P&P (d)_ 4% Chi M St P&P pf(d). 3% Chi& N W (d) . _ 11% Chi & N W pf (d) - 23 Chi Pneumatic Tool 2% Chi R 1 & Pac (d) _. 5% Chi RI&P 6% pf(d). 6% Chi RI&P 7% pf(d). 12% Childs Co__. __ 461 Chile Copper (1) i Washington Stock Exchange today and | 135% 110% Chrysler (b13%) 40 more at 340. Lanston Monotype again sold at par. Two 10-share lots of Mergenthaler Linotype came out Bt 47. Potomac Electric Power 6 per nt preferred moved at 114 and the 2 per cent preferred at 112. ‘The Treasury and the Federal Re- rve Board, working together, have enty of money to keep the Govern- ent bond market orderly, Secretary jorgenthau said yesterday. 21% 10% 38% 41% 98% 170% 58 25% 62% 112% 37 517 “All we have ever tried to do wasf 30 keep an orderly market. And we will continue to do so. No one has enough money to put the market up pr down” Secretary Morgenthau said. 20% 108 39% 46%4 187% City Ice & Fuel (2). 8% City Stores___ __ 32% Clark Equip(11.60) 105 Clev El Illu pf 4% 35 Clev Graph Br (2) 78 Cluett Peabody (3). 1221 Coca-Cola (12) __. 57 Coca-Cola A (3) 19% Colgate-P-P(150¢c) - 541 Collins & Afk (12)_. 1081 Collins & Aik pf(5).- 26 Colonial Beacon _._. 43 Col Fuel & Iron(bl) 24 Colo & South 1st pf 15% Columb G & El(40c) 9714 Col G & E pf A (6) 32% Columb Pic vte (11) 41% Columb Pic pf(2%)- 567 Comcl Credit (t4) ._ 106% 92 28% 60 617% 1107 1 94 4 28% 140s 60 2 63 103 1% 10s 128 15 108 3 61% 61% 1 95% 95 1 82\4 824 + 100 107 21% 11% 1% 961; 96 643, 308 106 40 Zfi’» 2814 314 22 lDI‘I 123 53 31% 26%% 39 5 124 55% 33% 274 461, 411 42, 5% 26% agy, 22 20% 10s 110 2 113 10 40% 53% 31% 408 10874 b6 59% 2 41% 8 591 VT NS -1 27% —1% 3% — % e % — % 18% — % 68 —4 121% —2% 20 8Y% — % 321 —3Y% 108 — % 37% 91 + 3% 169% — % 58 24 ~ 54 —1% 109 37% +1% 40% Contl Oil Del (t1)-. 26% Contl Steel (b50c) .. 637% Corn Ex Bank (3) .. 60 657 Corn Prod Ref(t3)_x 13 4160 Corn Prod Rpf (7).x 1 6 Coty Inc . 27 46 CraneCo _ L 2). 2 21% Crosley Radfoall - 2 74 CrownCork & S(2). 16 501 Crn C&S pf ww 234 _ 1 43 Crn C&S pf xw 2% _. 17 Crown Zeller(new) 99 Cr'n Zell cum pf (7). 51 Crucible Steel 12% Cuba RR pt _ 10 Cuban-Am Sugar 39% Cudahy Pkg (24) . 167% Curtis Publishing.. 99 Curtis Pub pf (7) 612 Curtiss-Wright 191 Curtiss-W (A)asoc 8115 Cutler-Ham (b50c)_ 16 Davega Stores(f1)._. 20" Davega cum pf 1% - 2 lfld*- Deere & Co a2 Deisel-Wem-G(11) - Delaware & Hudson 171 Del Lack & West 5 Detroit Edison (f4) 10 Det & Mackinac 61 Devoe & Rey A(13)_ 301 Diamond Mth (b50¢) 364 Diamond Mpf(t13%) 241, Distil Corp Seag .. 20% Dixie Vortex(13;) 714 Doehler Die Cast(2) 45 Dome Mines (12) 10'% Dominion Stores _ 60% Douglas Aircraft 6% Dunhill Internatl 5% Duplan Silk (1) 156 Du Pont (b75¢) 11} Eastern Roll Mills 159 Eastman Kodak(6)_ 157 Eastman Kod pf(6). 32 FEaton Mfg (12) ___. 117 Eitington-! -Schild___ 237 El Paso Nat G 1.60. 3813 Elec Auto Lit 12.40_, 12 Elec Boat (af0c) __ 51% Elec&Mus 1 (a18¢) - 21% El¢c Pow & Light - 69 Elec Pw & Lt $6 pf_. 75 Elec Pw & Lt §7 pf_ 2 2 1% Elk Horn Coal (d) . 11 : 108% Endicott-Jhn pf(5) 408 4 1 10 zm Evans Prod (1) 5314 Fajardo Sug Co (b1) 105 Fed Min&Sm pf(7) Federal Motor (40c) 51, Fed Screw Works 4% Fed Water Sve A 3615 Fed'd Dept Str(2) _ 40 Fidel Phoenix 1.60 32% Firestone T&R (2).x 14 7'z 103'4 Firestone pf A (6) . 46); First Natl Strs 123 2 40 Flintkote Co (1) .. 13 48 Florence Stve bi0c 34 Florsheim A (2) . 6% Follansbee Bros(d) 71: Food Machine (1) - 1161z Food Mach pf(43¢) 43~ Foster-Wheeler 118 Foster-Wheeler pf 70 Franklin S pf(as%) 26% Freeport Sulph (1) - 3515 Fuller Co 2d pf 43« Gabriel Co (A) . 251 Gamewell Co 51« Gar Wood (a55c) _. 12% Gen Am Inv(a 70" Gen Am Trans (a3). 154 Gen Baking (160c)_. 10% Gen Bronze Z 257 Gen Cable 54 Gen Cable (A) 44 Gen Cigar (14)_ 52% Gen Electric (b40¢). 391% Gen Foods (2) 213 Gen Gas & Elec(A) - 60 Gen Mills (3) 6012 Gen Motors(b2ie) - 116% Gen Motors pf (5) 125 Gen Outdoor Adv 49% Gen Outdoor Adv A_ 17% Gen Print Ink new __ 41x Gen Pub Service 53 Gen Ry Signal (1)_ 4% Gen Realty & Util - 39 Gen Realty & Upf . 60% Gen Refract (a3%). Gen Time Inv(11) _ 4 Gillette S Raz (11) . 20'« Gimbel Bros 835, Gimbel Bros pt(6) . 433 Glidden Co (2) .. sobel (Adolf) 5 6% Goebel Brew (120c)- 31 Goodrich(BF) (al)- 27% Goodyear (b50c) __ 100 Goodyear cu pf(5)_. 3 Graham-Paige __ 61 Granby Cons (new)_ 37% Grand Union ctfs___ 2115 Grand Union pf(b1) 3813 Granite City St(1) _ 42 Grant (WT) (11.40) 40% Grt Northern pf ___ 19 Grt Northn Ore (1) 35 Grt West Sug 12.40 34 Green HL (71.60) . 14% Greyhound (+80c) _. 11 Greyhound pf(55¢) 3 Guantanamo Sug. 40 Guantanamo pf __. 13 Gulf Mobile & N - 551 Gulf States Steel 1312 Hall W F Print _ _. 26Y% Hamilton Wth b25c 1041; Hamilton W pf (6)- 50% Harb-Walker (12)_. 1061 103% Hat pf ww (6%) ———. 8 5% Hayes Body 109% 101 Hazel Atlas Gl (15). 15% 13% Hecker Prod (60c) - 39% 3114 Hercules Motor(t1) 185 150% Hercules Pwdr (6) 67% 60 Hershey Choc (13)- 52% 47 Holland Fur(al%)- 120% 106 Holland Fur pf(5) .. 30% 21 Hollander & Son(1) 4315 3114 Holly Sugar (12) 431 356 Homestake (112) 27% 22% Houd-Her B (11%)- 73 57% Household Fin (4)_. 7% 12! Houston Oil vte - 62% Howe Sound (13) 12% Hudson & Man pf 181x Hudson Motor 17 Hupp Motors 2215 Ilinois Central _. 12% Indian Refin (a1) 36Y% Indus Rayon (2) 1307 Ingersoll Rand(12). 131% 1121 Inland Steel (4) - 33 2214 Inspiration Cop . _ 13% 10% Inter Rap Tr vtc(d) 1113 4% Intercontl Rubber_. 281 16% Interlake Iron 9 5 IntlAgricultural_. 59'% 42 Intl Agricul prpf_.. 189 159% Intl Bus Mach(16)_. 111'4 101 Intl Harvester(2%) 162 146 Intl Harv pf (7) 167 8% Intl Hydro E1 A. 14% 61 Intl Mercantile M. 18% 1414 Intl Mining (a0c)_. 73% 6214 Intl Nickel (b50¢)- 23% 16% Intl Paper (A)_. 175% 10% Intl Paper (B)_... 5% Intl Paper (C) 90% Intl Paper pf 41 Intl Print Ink (12) . 109% Intl Print Ink pf(6) 26 Intl Salt (t1%) 45% Intl Shoe (12) 31% Intl Silver 90 Intl Silver pt (a$) - 11% Intl Tel & Tel = 29% Interstat Dp St b2% 107 103% Inter Dept St pf(7)- 29 25 Island Creek (2)_ 8714 8% Jewel Tea (14)_ 81 119% 531 111% 151 158% 14% 42 163 150 16% 28% 113% 43% 109% 106 Loose-Wiles pf(5) _. 28% 'y 161 67% Libbey-O-F (b75c) - 9% Libby McN & L(al) 25% Life Saver (11.60) __ 100 Ligg & Myers (14) _. 100% Ligg & Mvers B t4 149~ Ligg & Myers pf(7). 21% Lily Tulip (f13) 59 Lima Locomotive_... 52 Link Belt (12) ___. 43% Liquid Carb (2.60) 645 Loew’s Inc (12) Y Loft Inc 56 Lone Star Cmt b76¢c 61 Long-Bell Lumb(A) 37% Loose-Wiles (2) 22% Lorillard P (1.20) _ 4 Lou Gas & Elec (A) Louis & Nash b2l % Ludlum Steel (1) .. 4 MacAndrew&F (12). 4 McCall Corp (12) McCrory Stores McGraw Elec (12) McGraw H P b27 McIntyre Porcu{2) 4 McKeesp't Tin Plate McKesson & Rob McKess & Rb pf(3)_ 4 McLellon St (b75¢)- Mack Trucks (+1) Macy (R H) (12) Madison Sq G(80c) - Magma Copper (2) . Manati Sugar (d) 2 Manati Sug ctfs (d) Manati Sug pf (d) .. Mandel Bros (b1) Man El md gtd (d) . Manhat El gtd (d) Manhat Shirt (1) Maracaibo Oil Exp.. Marine Mid (140¢) .. Market St Ry z 4 Market St Ry 2d pf Market St Ry pr pf_ Marlin Rock (¥2)_ Marshall Field Mathieson Alk(1%) 4 May Dept St (13) _ Maytag Co (a50c)._. Mead Corp Mead Corp pf (6) Melville Shoe (15) _. Mengel Co = Mengel 1st pf (215) Mesta Mach (b1%)_ Miamf Copper Mid-Cont Pet a1.15_ Midld Stl Prod (+2) 2 Midld St1 15t pf(8) _ Minn-Hon Ros (2) Minn Moline Pow Minn Moline Pw pf M St P&S S Marie _ sion Corp (a45¢) Mo Kans & Texas Mo Kans & Tex pf A Mo Pacific (d) Mo Pacific pf (d) Mohawk Carp(1.20) Monsanto Chm (1) Montg Ward (+2) Morris & Esx ( 3 Mothe Lode s Motor Prod (+2) Motor Wheel (1.60)_ Musller Brass (+1)_ Mullins B (af0c) ¢ Mullins pf (T) __ Munsingwear (3) _. Murphy 2.60 ex rts Murphy G C pf (5) Murray Corp(a50c) Myers (F E) (b1)__ Nash Kelv (1) ashv Chat & § atl Acme (a7ic) Natl Aviation (a1)_ Natl Biscuit (1.60) Natl Bond & In 1.44 Natl Cash Reg (1) Natl Dairy Prd 1.20 Natl Dept Stores __ at]l Dept Strs pf _ atl Distillers(+2)_ atl En & Stpg (2) Natl Lead (+50¢) Natl Lead.nf B (6) atl Mall & S C b50c at] Pw & Lt (60¢) - Natl Steel (215) Natl Supply Co N atomas (180¢) cisner Rros (12 ew Orl T&M (d) ewnort Ind(h50c) Y Air Brake b30c Y Central e YChi&StL . __ Y Chi & St L pf Y Dock Y Investors (d) _. & 4 4« N Y Shipbuilding_ N Y Steam pf (6) _ 50 Norf & Wst (b232) . 13% North Am Aviation. 977 North Am Ed pf (6) 27% Northern Pacific . 3% Norwalk Tire & R._. 17' Ohio Oil (a60c) - 5313 Oliver Farm Equip- 184 Omnibus Corp vtc... 1314 Oppenheim Collins._. 357 Otis Elev (60c) 16'2 Otis Steel 75 Otis St ov pf (514 19Y% Pac Am Fish (11.20) 111 Pacific Coast 2514 Pacific Coast 1st pf 2114 Pacific Coast 24 - 311, Pac Gas & Elec (2) . 43% Pac Lighting (3) 343, Pac Mills (b50c) 143% Pac Tel & Tel (8)__. 221 Pac West Ofl(a65¢). 10% Packard Mot (b15¢) 2% PanhandleP&R 60 Panhandle P&R pf_. 76 Paraffine Co (b1) 22% Paramount Pic Paramnt 1st pf (6)_. 205% Paramnt 24 of 60c.. 2815 Park & Tilford (2) 4% Park Utah _ __ 38 Parke Davis (bl) 5% Parmelee Trans . 8% Pathe Film Corp ... 14'% Patino Mines(160c). 3% Peerless Corp — 52% Penick & Ford (13) 97 Penney J C) (4) 4% Penn Coal & Coke _. 7% Penn Dixie Cement_ 22" Penn G1Sdctablc . 39% Penn Railroad (a2)- 49% Peoples Drug (1) 4812 Peoples Gas Chi 4% Peoria & Eastern 34 Pere Marquette _ 17% Petr Corp Am a%0c_. 11 Pfeiffer Brew(1.20). 50% Phelps Dodge b35c_. 90 Phila Co pf(6)new._. 5% Phila Rap Tr (d) _. 10% Phila Rap Tr pf(d)- 1% Phila & Read C& I T1Y% Philip Morris(b3%) 49'% Phillips Petrol (2).. 163 Plerce Oflpf " _____ 281 Pillsbury Flour 1.60 14% Rittsburgh Coal __ 13%4 Pitts Screw&B blbe. 24% Pitts Steel 3% Pitts United 31% Pitts & W Va 24Y% Plymouth Oil (1) 25% Poor & Co (B) __.. 7% Porto R Am Tob A_. 214 Porto R Am Tob B_. 10% Postal Tel&C pf(d). 25Y% Pressed Steel Car _. 25% Press Stl 1st pf 25¢. 67 PressStl2dpf2% .. 551 Proctor & Gam(t2). 43 PubSve NJ (2.60).. I(H 22% 7244 193 7% 118 105 T5% 12612 150 9 81x 128 Ruberoid Co (1.80) . Safeway Stores(t2) 975 Safeway Strs pt(5) 109% Safeway Str pf(6) 110 Safeway Strs p$(7). 4 43% St Joseph Ld(b50c) 3 t L-San Fran (d).. St L-San Fr ptf (d).. Savage Arm (al) __ Schenley Dist(b75¢c) Schulte R Strs (d)_. Schulte R S pt (d) . Scott Paper (1) 4 Seaboard Air L (d) . Seaboard A L pf(d). Seaboard O1l (1) .. Sears Roebuck (3) .. Servel Inc (T1) Sharon Stl (11.20) __ Sharpe & Dohme Shattuck F G (60c)- Sheaffer Pen(bl3,)_ Shell Un O1l (aZse) . Stiver King (b2ic) . Simmons Co (b30c) - Skelly Oil Solvey Am pf (5 Seuth Am G & P South Port Sug(f2) So Cal Edison 117 Y2 Southern Pacific outhern Ry )- Sperry Corp vte(al) picer Mfg (a3) 4 Spicer pt A (3) nd Brands(180c) Stand Com Tobac .. tand Gas & El (d) - Stand G&E $4 pf(d) tand G&E $7 pf(d) nd Inv Corp nd Oil Calif (1) Stewart-Wa Stone & Web(a2ic). uperheater Co ( uperior Oil ______. Superior Steel ____. Sutherland P 11.60_. Wift & Co (11.20) - 2 Swift Intl Ltd (2) ymington ww bl0c ymington xw bl0c. Talcott (J) b30c___. Tenn Corp (al5e)--. 50 Texas Corp (2) s Texas Gulf Prac__ Texas Gulf Sul (2) Texas & Pac R R Tex Fac C&O0 bllc__ Texas P L T (allc). Thatcher Mfg (t1). The Fair The Fair pf (-), Thermoid Co Thompson J R Thompson Pr b4 Thompson Starrett_ Tide Wat A O (60c). Timken Detroit 11 _ Timken Roller B(3) Transamertca 140c Trans Wst Air a2ic Transue & W (160c) Tri-Contl (ab0c) s Truax-Traer(b25¢)_ Truscon Steel = 20th Cent Fox bs0c_ TwinCity RT .. Twin Coach (al.40)- 4 Ulen & Co Lot Und-Ell-Fisher (3)_ Union Bag & P (2) .. Union Carb (3.20) _ Union Oil Calif (1)_ ion Pacific (6) __ Utd Aircraft(as0c)_ Utd Air Lines a20c_ 26 Utd Biscuit (1.60) . 79 Utd Carbon (4) ___. 61x Utd Corp (a20c) 41 Utd Corp pf (3) 14'» Utd Drug (a7ic) T4 Utd Elec Coal 4613 Utd Eng & Fy (12)_ 8013 Utd Fruit (73) 14 Utd Gas Imp (1) 110% Utd G Imp pf (5) - 6'3 Utd Paperboard 15'2 U S Distributing pf_ 17 U S & For'n Secur. 116 S Gypsum (72) .- 17 U S Hoffman - 372 U S Indus Alcohol 6% U S Leather vtc 13% 17 S Leather(A)vtc_ 60 U S Pipe & Fdry(3). 13% U S Realty & Imp._. 831 U S Smelting (b4) 69 U S Smelt pf (333)_ 75 U S Steel 139% U S Steel pf (1) - 7 Unit Stk Yds (50¢) - 615 Utd ¢ 75% Univ Leaf Tob (13) 3 Util Py&Lt (A)(d) 1% \'adsez Sales Corp 281 Vanadium Corp 9'% Van Raalte(b62%3¢) 212 Vick.Chemical (12) - Va-Car Chemical ’a-Car Chem 6 % pf 8% Va Iron Coal&Coke 263 Va Iron C & C pf 70 Vulcan Detin (a8) 314 Wabash () s 9 Wabash pf (A)(d) 15% Waldorf Sys(11.20). 29 Walgreen Company 45% Walker (H) (2).- 11% Walworth Co 42 Ward Baking (A) 6% Ward Baking (B)-.. 13% Warner Bros Pict__ 7% Warner-Quinlan(d) 6% Warren Bros (d) - 24 War'n Brev pf (d) -, 3514 Warren Fdy&P (1) 31 Waukesha Mot (1) - 46 Wesson O&S (150c) 93 West Penn E1 A (7) 90 West Penn El pf(6) West Penn El pf(7) 4\ West Pa Pwr pf (6) x West Pa Pwr pf (7) x 4 Western Maryland._ Western Md 2d pf__ 215 Weéstern Pacific Western Pacific pf_. Westn Un Tel (3)_ Westingh'se A B(1) Westingh’se El (b1) Weston EI Inst a85c Westvaco Chlor (1) 12 Westvaco 5% pf 1% Wheel&L E pf(5%). Wheeling Steel White Motor . 15% White Rk M S(1.40) 5% White Sewing Mach 38 White Sew Mch pf. 414 Wilcox Oil & Gas 8% Wilson & Co (50c) 79% Wilson & Co pf (6) .. 51% Woolworth (2.40) 3413 Worthington Pump 81 Worth Pump pf(A) 77% Worth Pump pf(B) 116 Wright Aero (al) 49% Yale&Towne($60c). 20% Yellow Tr & Coach . 40 Young Spr& W(t3). 75%% Ygstn S&T (b75¢) 83 Zenith Radio (bl1).. 7% Zonite Products.____ 208 20s 110 408 110% 31 58 12 4 15 8% 2 25% 12 48% 4 2y 2 20% 108 10 2 59 102% : 1 6 0 i ) 0 20s 11 30s 408 30 10s 308 10s 10s 20s 10 3 14 2 23 11 508 1 608 1 111 2 25 > | futures tumbled with stocks, -1% . o 1411 ~4 30 — ‘ switches 1384 —2% 26 23 - 4% 32 120 + % 58% —215 29% - % 1676 + 1% 5% — % 38 —1% b 10% — % 8 =2 53% —1% 391 —-1 10% 52% 383 107% 94 110 511 Approximate Sales of Stocks on the N. Y. Stock Exchange. Net change. —1.8 —1.0 Today, noon 95.2 455 Previous day 97.0 465 Month ago__101.3 465 Year ago__.. 84.8 372 1937 high-_ 101.6 495 1937 low-.. 94.1 378 1936 high.. 99.3 435 1936 low_.. 734 302 434 55.7 1932 low__. 175 8.7 239 169 1929 high__ 146.9 153.9 184.3 157.7 1927 low__. 51.6 953 61.8 618 464 705 467 1.7 50.1 74.6 483 638 540 753 46.7 69.1 537 728 (Compiled by the Associated Press.) BY VICTOR EUBANK, Associated Press Financial Writer. NEW YORK, April 2.—Stocks suf- fered a wide open break of 1 to 5 or | more poirs in today's market on the | heels of arp presidential criticism regarding soaring prices and produc= tion of durable goods. Steels and coppers led the down- slide as Mr. Roosevelt, at his press conference, pointed especially to these industries as examples of what he in= dicated was unjustified price-hoisting, For half an hour the ticker tape was behind as much as four minutes. Speculative forces, caught off guard, dumped holdings promiscuously. The volume dwindled lati however, and extreme losses were reduced in many instances before the close. Transfers were around 1,700,000 shares While Rubber, copper and cottan corn at | Chicago leaped to the best levels in | the past 12 years. with May contracts +, | September quoted at over $1.25 a bushel. Wheat was up 1'x to 135, Corn was ahead | 1% to 4. The price of lead was low= | ered $1 a ton | In addition to his warning signal on mounting prices in heavy industries, the Chief Executive apparently chilled some of the buying ardor by announce ing the Government would attempt to shift recovery and relief expenditures for durable materials to consumers' | products in order to spread the na= tional income more evenly | Depressing to the financial sector | also was an early drop in U. S. Gove ernment urities, although these came back im the afternoon. Con= | tinued upsets in the automotive field and the walkout of 400,000 soft coal | miners pending adjustment of wage and hour questions also tended to accentuate market unsettlement. NEW YORK COTTON BY the Associated Press NEW YORK, April 2—Cotton eased about $1.50 to almost $2 a bale today under heavy liquidation influenced by reactions at Liverpool and a general response of the markets to the Pres= ident’s discussion of the rapid rise of durable goods prices July declined from 1429 to 14.11, and in midafternoon was 1422, when prices generally were 22 to 27 points | net lower. Futures closed s Col\onsfld 0il. Bleachable cottonseed oil | closed steady. May, 7.13: July, 11.22; 11.24: October. 11.08b. contracts, including 4 b—Bid futures sales, 72 New Orleans Prites Income Improves As Great Northern Cuts Debt Costs Br the Assoclated Press ST. PAUL. April Northern Railway reported gain of $2.763.680 in net income in 1936. |~ The annual repert said net oper- ating income for the year, after de- | ductions for interest and other fixed charges, was $9.873.547 The increase in net income re- sulted chiefly, the report stated, from | a reduction of $1.455103 in interest and other fixed charges and an in- 2.—The Great today a operating * | crease of $1,121.860 in income from sources other than operation of the | Great Northern lines. The report said that after 1937 refinancing has been completed. in- terest charges on the funded debt will | be $4.695663 less per year than in 1933 and the net reduction in the funded debt since January 1, 1933, | will be $18,876,600 :|BROKERS’ LOANS DROP 28 MILLIONS IN WEEK By the Assoclated Press. The Federal Reserve Board report- | ed that last week’s loans to brokers and dealers on securities held by reporting member banks in New York City to- taled $1,092.000,000. The week ended Wednesday and the total represented a decrease of $28.- 000,000 when compared with the pre- vious week. Loans for the corresponding week a year ago totaled $1,019,000,000. NEW YORK BAR SILVER. { NEW YORK, April 2 (#).—Bar sil- | ver steady and unchanged at 45%. WELLINGTON FUND A Living Trust Fund Available in units of $10.00 a month and up. Single Yeposit $300.00 and up. certificates 3 112% 100% Pub Sve N J pf (5)-. 108 140% 128 Pub Sve NJ pf (7). 308 T2% 61Y% Pullman Inc (1%) 4 B¢ 24% 19% Pure Ofl & A 112% 108 Pure Oil 8% p! 0% 110‘/2 110% 23% 18% Purity Bak 1500).__ 20 19% 19% - % 12% 10% RadioCorp. _.___.... 173 - 11 10% 11 + %K 80 76 RadlopfA (3%).-.- 7 15 4% TN —1% ¢ ' ) 156 134 Johns-Manv (13) 126 120 Johns-Mansv pf(7). 136 123 Jones&L 7% pf 1% - 29 20 KansCity South __. 35 281 Kaufmann (11.60)-. 1 2T% 24 KayserJ &Co (2)... ;3 23% 17% Kelsey-H A (al%).. ' 2 19% 15 Kelsey-HB (al%)-. 8 12:00 Noon —-—-, 840,000 1:00 PM. 1,046,000 ~1:260,000 Dividend rates as given in th ove table are the annu: cash payments based on the latest quarterly or half-yearly dec- larations s Unit of trading Aell than 100 shares. not lnduulnn extras. 'aid last vear. b this gm&mlu reported P nulvenhlb or being roorunmd National Dairy Products Corp. in L0020 o accordance with the requirements of the purchase fund for its 3% per cent debentures, due 1951, has issued a re- demption notice, and on May 1 will redeem at 100% certain debentures, ‘which have been drawn by lot. 100 Comecl Cred pf (4%) 66% Comcl Inv T (14) _. 104 Comcl Inv T pf 4% . 1 105% 105% 18 Comcl Solv (160c) 42 184 17% 3 Comw & Southern 3 75% 56 Comw & Sou pf(3).. 55% 19% 13% Conde Nast Pub_ 15 45% 36% Congoleum-Nrn(! 40% PROSPECTUS SENT ON REQUEST. Wellington Foundation, Inc. William Canby Mar. Woodward Buil National 3717 1101 101 6 68 66 +Annus) rate ,