Evening Star Newspaper, April 2, 1937, Page 21

FINANCIAL. . GURB LIST GOES TOLOWERLEVELS Coppers Reflect Special Pressure—Most Other Groups Ease. By the Assoctated Press. NEW YORK, April 2—Most Curb stocks sought lower levels today in response to weakness on the big board. Copper shares were under special pres- sure. Newmont yielded 3% and displayed little rallying power in late trading. Declines ranged from 1 to 3 in Driver- Harris, Colt’s Patent Firearms, Mont- gomery Ward “A,” Great Atlantic & Pacific, Aluminum Co. of America and Gulf Oil. American Cyanamid “B” and Mc- Williams Dredging showed fractional improvement. CHICAGb GRAIN BY the Associated Press CHICAGO, April 2—Corn became the grain market leader late today and soared 4 cents a bushel, the ex- treme limit allowed by trade rules in any 24-hour period Large purchases of corn for imme- diate shipment out of Chicago, with only meager arrivals here, afforded incentive for flurried speculative pur- chases. This was especially the case with traders who were short of corn to fill May delivery contracts Wheat and other grains turned higher at the last with corn, soy beans, as well as corn, shot upward the limit, 4 cents. At the close corn was varying from 153 to 4 cents higher, May 1.25'2a%, July 117%a7s; wheat 1lgals up, Mav 1.427ga43; July 127%a%; 3,a7s advanced, and provisions 1 cents down to 7 cents up WHEAT— Open JHin. Low. lose. S 3 E';w 1 CORN— May, new May. e a1y 121 {-Llu, 1,503 Ii4% 117% 114% 11077 1.10% 1.07% 0 497 47 44% 49 46 437 D SOY BEANS— May 1645 1852 1045 1059 Chicago Cash Market. Cash wheat, No. 1 dark hard, 1.49; No. 1 hard, 1.48%: No. 2 hard, 1.45%2- 473%,; sample grade, yellow hard, | 1.42%5: No. 3, mxxed. 1.45; corn, No. 4, mixed, 1.281;; No. 3 yellow, 1.28%:- 29%; No. 4, }ellow 1.262-28%2; No. 5, 1.2612-27; No. 3 white, 1.32- No. 4, white, 1.30; No. 5, white, sample grade, 1.00; oats, No. 1, -551; No. 2, white, 54- white, 52-5312; sample 2; soy beans, No. 4, yel- 5 barley feed, 70-73; malt- ing, 1.00-25; timothy seed, 4.75-5.50 hundredweight; clover seed, 29.00- 35.00 hundredweight. CURB BONDS DOMESTIC BONDS. High. Low. Noon. 85z RBala Bd} 710415 1043 mu 10113 10138 1012 ! 9112 91'a 106 Ala Power Ala Power § Ala Comw Ed 45 'f Comw Ed 33s n; H Det Int East G & El Pas El 55 Einp Dis £ : Emp O & R Firest Cot M Interc Pw Intl Secu Interst Pw nierst Pw 1 4 102V 104! kL ORIA bAZ ¢ 0812 1081y wx*'; 104 104% 104“2 06 l()fi‘. 106V s 1 AT 0812 ORIA OBV '40 = l(\fl‘/q |0H‘ 108% B_ 116 116 118 99 90 By 2 A 108 108 514 1081 100% owz fl%lD 95% o i S e N "Ienonen Super of Il 4 '6R Super of Il _4'zs Tenn Pub S Texas, Elec s W L bs 44 93" 93 & B E s 55 A 105 * 108% 108% P& L 4s '56 95% 95% "OR!'IGN BONDS. Cauca_Val 78 Cent Bank G Cent Bk _Ger ‘51 B Santiag Chil 7s ’61 Www—With warrants. Xw—Without warrants. —New. st (stp)—Stamped. FNerotiability impaired by maturity. tCompanies reported in receivership. oats, | 2:30 Stock and Sales— Dividend Rate. Add 00. Aero Supply (B) 11 Agfa Ansco 1 Alnsw'th M Cb25c 38 Alr Inv inc war 5 Alr [nvestcvpf . 2 Alabam Pw pf (70 708 Allen Indus (t1). 1 Alles Fisher % 2 Alum’n Co of Am 1850 Alum Am pf al113% 300¢ Alum’n Ind (40c) 608 Aluminum Ltd 2000 Alm Ltd ¢ pf b1% 2 Am Atriines Inc_. 6 Am BoxB'od (1).. 8 Am Capital (B) 1 Am Capital pfb75 1 AmCit PEL (A)3 808 Am CitP&L Ba30c 6 AmCP&L wwi¥_ & Am Cynam B 1600 18 Am & For Pw ww. 2 AmGEE (1.40)... 6 Am G&E pf (6) ._. 4508 Am Gen C’p (a50c) 6 Am Gen Cpf (2) 508 Am Hard Rub(al) 160s Am Laun'y M 80c. 2 AmL&T (11.20). 1 Am Mfg Co (a3) .. 150s Am Maracaibo “ | Am Meter (b75¢) - Am Pot & Ch a2% Am Superpower._ Anchor Post F' _ Angostura (+20¢) Angostura-W rts Apex Electric(al) Appalach EPpf 7 Arcturus Radio T Ark Nat Gas ___ Ark Nat G cu pf__ Ark Nat Gas (A) Ashland O&R t40c Ass0 Gas & Elec__ AsSSOG& E (A) Atl Coast Fisher. | At Coast Lazy Atlas Corp war___ Austin Stiver Auto Vot Mch 50¢ Axton-Fisher (A) Babcox & Wil (4). Bardstown Dist__. Barium Stain Stl Bell Afrcraft _ Bellanca Atreraft Bell Tel of Can(6) Berkey&Gay F Co Berk&GF pur war 258 169 1 104 181 17 2% 20 14 39% 8544 554 © 82% 8% 5% 109 1 843 184% ° 6% 144 8 161 Bliss Co (E W) __ Blue Ridge C a10c Blue Ridge cv pf 8 | Blumentha! § Borne Scrym b | Botany Cons (d) Bourjois (a75c) . _. Bower Roll B (2)_ Bowman- Biltmore Bowmn-Bilt 1st pf 61)- Bowmn-Bilt 2d pf 2 Breeze CInca7sc. 4 Brill Corp (A) . 6 Brill Corp (B).. 2 Brill Corp pf 2508 Brillo Mfg (80c)_. 1 Brown Co pf 13008 Brown F&W bil5c. 1 Buckeye P L (4) .. 1008 Buff N&E pf 1.60 3 243 Buff Niag&E 1st 5 100s 102!§ Bunker H & S(bl) 50s 13234 Cable&W pf a20c 53 Calamba Sug 1.60 29 Can Marcont .__ 2 Carfb Svndicate 23 Carm’'n&Co A b50c 243 6% 3054 2% 4“4 103 8% Carnegle Metals__ Carrier Corp Carter (JW) 80c_. Catlin Corp (attic) Celanese 1st pf +7 250 | Cent Ohio S b25c 1817, Cent P& Lt 7% pf (b3.06%) Cent&S W Utll _ 4 Cent States Elec _ 23 Cent St E17% pf_. 26s Centrif Pipe t40c. 7 Charis Corp(1%)_ 1 Chi Flex Shaft 1500 Chief Consol_ Childs Co pt___ Citles Service__ Citles Service pf Cit Sve P&L $6 pf 508 Cit Svc P&L $7 pt 1608 City Auto S(160c) 18 Claude Neon Lts_. 15 Clev Tractor __ 1 Clinchfield Coal -_. Club Aluminum _ | ComsM ste vte t1- 1 2 | Colon Dev Ltd 54 Colon Dev 6% pf_ 16 Colo Fuel&Ir war 5 Colts PFA b37%c 9 Colum G&E pf(a) 508 Colum O & G a20c. 93 Comwlth Edis t4. 1 Com'with & S war 15 Com'u’ty P&L 1st 2508 Community WS__ 2 Cons Afrcraft Consol Biscuit 60c - 8 Consol Copper 113 1 2 258 C GELt&P Bo 3.60 Consol Gas Util__. Cons Min&Sm t2 1508 Cons Royal (20c) 1 Cons R S 8% pf b4 508 Consol Steel Corp. 34 Cont'l Roll & SFy 6 Cook P & Var t60c Cooper Bessemer_ Copper Range_ Cord Corp = Corroon & Reyn__. Cosden Oil Me (d) Creole Pe- (a50c). Crocker-Wh al0c. Croft Brewing _. Crown Cent P afe. Crown Dr (b20c)_. Cust Mex Mining Darby Petr (50c). Dayton Rubber 12 Dayton Rub A (b2)250s Dennison 7% pt.. 10s Derby O1l & Ref __ Detroit Gasket t1. Det Gas pf (1.20). Det Gray Ir ¥20c.. Det Pap Prod t250¢ Det Stl Prod b25c. Domin S&C (B) _ Draper C (12.40) . Driver Harris 1%. Dubelier Condens Duke Power (3)__. Duval Tex S a50c_ Eagle Pitcher bl0c East'n G&F Asso. East'n St Pw (B). Eisler Elec (abc)_ Elec Bond & Share Elec B & S pt (8) El Pwr As(A)a250 Elec P&L opt war Elec Sharenolding Elec Sh pt ww (6) IZS- El Shov C1stpt _ 50s Electrol Inc v.t.c._. 2 Elgin Nat W bs0c_100s Emp G&F 6% p1 26s Emp G&F 61, % pf 26s Emp G&F 7% pf 1508 Emp Pwr pt a1.80.100s Emasco Derrick 11 3 Equity Corp(a2bc) 46 Evans Wall Lead. 34 Evans Wall L pf 1608 Bxcello Air(b20c). 14 Falstaff Brewing.. Fedders Mfg b25c. Ferro Enam b26c_. Ferro Enam rights Fidelio Brewery.. Fisk Rubber._. FaP&Lopt.. Ford Ltd a18: Ford (Can) A (l). Ford (France) ___ Franklin Ray a60c Froedt G&M (20c) Froedt't cv pf 1.20 looa Gen alloys Gen Fireprfg b25c 1 isen tnvest Corp 5 Gen TeleC'pal.3s 2 Gen Tire & Rub 5 Georgis Pw pf (6) 160 Gilbert ACaélie 1 Glen AldenC (t1) 2 Godchaux S A b2_. 60s Godchaux Sug(B) 1 Goldfield Consol.. & Gorham pf ww___ &0s Gorham Mfvtetl 1 Grand Natl Films 11 Gr Rap Var(t60c) 1 Grt AGPTo v t6 20s Great Nor Pap 1_160s Greenfleld T& D.. 16 Groc Store Prod_. 3 5% * 52 314 11 35 1843 @ 6 u% % 160 2% % | N Eng Pwr Asso__ THE EVENING STAR, WASHINGTON, D. C, 2:30 Stockand Sales— Dividend Rate. Add 00. Gultf Oil (Pa) b2be 12 Hall Lamp (80c¢) 3 Hearn Dep S b1.65 Hearn DS 6%pf 8 Hecla Min (b20c) Helena Rubenst'n Helena Rub (A) 1 Hevden Ch (12) Horn & Har pf(5) Hudson BM&S (1) Humble Of1 (1%). Hygzrade Food 3 Hygrade Sylv (3). 60s 11) Pwr & Lt §6 pt 200s M P&L6% DI . 4008 Imp Of1 Ltd 600 2 IT GtB&I b84%%e. 12 Ind'n Ter [10(A) 1 Indiana P L(b30c) 38 Indus Fin 7% pf.. 50s Ins Coof No A 12 60s Intl Hold&InvLtd 3 IntlHy K1Scvpt 18 Intl Metals Inc A 50s Int] Petr (t13%) 8 Int] Produets _ 1 Intl Safety RasB. 2 Int] Uth: (B) = 1 5 . 674 5% Int) Vitamin(50¢) Interst P(Del)pf 100 Inv Royalty (téc) 4 Irving AIr Ch (1)_ 1 Ttal Sup'pwdrts. 7 Jacobs(FL)Co(1) 1 Jer Cent P&L pf 7 808 Jonas & Nbg b1bc. 2 Jones&Lauxh St 3 Julian & Ko (1%) 25s KanCPSpfAd) 1 Ken RT&L A aTbe 1 Kingston Prod 40c 10 Kirby Petrol (20e) 19 Kirkland L G (6c) Kleinert Co(t40¢c) Koppers pf (6) _ Kreuger Brew t1. Lake Sh M (14) _. Lakey F'y & Mach. Lefcourt pf(a75c) Leh Coal &N 30c._. Leonard Ofl = Lion Of} Ref (1)__ Lit Brothers Locke Stl Ch t80c.. Lockheed Afrcraft Lone Star Gas 80¢c Long island Ltg . Long I L pf A(7) Long Isl Lt pf B 6 La Land (40¢) __. Lynch Corp (12)... McCord Rad (B) ... McWilllams D (3 Majestic Ra&Tel . Mange) Stores Mangel St pf (5) _. 2004 Margay Ol a50n_. Marion Steam Sh. Mead Tohnson(13)100s Merritt Chap &S 22 Merritt C & S of A 1608 Merritt Chap war. 1 Mesabi Iron _____ 19 Moex-Ohfo Of1 Mich Bumper C___ Mich Gas& Of] _ Mich Stl T P b25e. Mich Sugar.. __ Mid Sta Pet (A) ... M1d Sta Pet (B) _ Mid-W Abrasallc Midwest Ofl (t1)_. Mining Co (Can) Molybdenum Corp Mont Ward A (7)_ Moore Dist (t60c) Mount Prod (60c) Mount St T&T (8) Muskogee Co (al) Murray(Ohio)b30c Nat Aut Fib b60c_ t Baking Co Nar Bella Hess Nat Bo & Sh(b30c) Nat Contain a50c_ Nat Fuel Gas (1)_ Nat Leather Nat Ol Prod t60c_ Nat P& Lt pf (6) Nat Rub Mch a20c Nat Service z Nat Service pf. Nat Sugar NJ (3) Nat Transit (75c). Nat Unfon Radio Nelson (H) (a45e) NeptuneM(A )a60e B0s NEP As 6%pf b2 200s New Jer Zinc (12).1050s 90% Newmont Min b75¢ 3 1221 New Process (12). 1 85 N Y Merchandise. 2 Telof (615) 26 Niag Hud Pwrnew 8 Niag H P(A) war 1 Niag Hud 1st (5) 26s Niag Sh Md Ba6le 2 Niles Bm Pnd b50¢ 1 Nipissing (60c) 2 Noma Elec (b40c) 1 North Am L& P 11 North AmML&P pf 50s No Am Ray A bb0c No Am Ray B b50c North Am Ut Sec. No Cen Tex O al50 North'n Euron Of) Nor Ind PS pf a414120s Northern PL 75¢. 2 North States P A 1 Nor TexEl16% pf. 2 Ohio Brass B (11).125s Ohio Edis pf (6)._ 26s Ohio Ofl cu pf (6). Ohio Pwr pf (6) . Okla Nat Gas Co-.. Oldetvme Distil _. Overseas Sec §0c.. Pac G&E 1st (1%) Pac P & L pfal0i Pac Tin spec (12) Pan-Am Afr (t1)_ Pantepec O] Pennroad (a26c) Penna P&L pf () Penna Salt (b1%) Pepperell Mfg 16 Phillips Pkg a50c. Phoenix Secur Pierce Gov (bl5c). Ploneer Gold b10c. Pitney Bow (t40c) Pittsbgh Forging. Pitts& LEb2% __ Pitts Plate G (b1) Potrero Susar Powdrell&Al t60c. Premier Gold t120 Producers Corp._. Prosperity Bal% Prudent’l Inv a50c Pub Sve Ind pf 1008 Pub Sve Ind pr pt 60s Pug Sd P&L pf b5 258 Pug Sd P&L 86 pf 176s Ry & Lt Sec a1.56 100s Rainbow Lum (A) 1 Raym’d Cone (1) 100s Red Bank Reed R B new t80¢ Reeves (Dan) 60c.. Refter-Foster Reybarn Coa25c.. Richm’d Radiator. Root Petrolm(1).. Rossia Intl Corp._. Royal Type b76c_.. Rustless Ir&Stl Ryan Consolid’d. Ryerson & Hayne! Saf Car H&Lt b134 2! St Anthony Gola St Lawrence Corp. St Rexis Paper. 126 Schiff (The)Co(t3) 1 Scovill Mfg (b50c)200s Secur CorpGen._.. 1 Segal Lock&H__. 1 208 | Seiberling Rubber 37 Selected Indus . 14 Sel [nd all cfs 63 1008 Sel [nd pr pf (63) so. Sent Saf Control.. Seton Leath a50c.. : Seversky Afrcraft 41 Shattuck Den Min 13 Shawin W& P80c 1 Sherwin Will (4) - 200s 136% Shrev-Kl Dor PAL 1 % Sher-Will (Can) 100s 2834 Simmons HA& P. 3 5% Singer Mfg (16) .. 10s 810 Solar Mfg (a40c)_ 6y Sonotone C (8100) 1% Soss Mg (a26¢) . % So Penn O11(11%4) “ SoCal EdptB1Yy 27% South’'n P L b20c._. 5% Southl'd Roy bl0c. 8% Spanish&Gen rcts. % Spen Chain 8t 60o. Stahl Myer Inc... » U1 PIOPSTore 1Y 3 46 Stand Inv cum pf. 3008 Stand Ol Ky (t1). T 53¢ 163 50% 19% % 104 a0y 218 28% 1363 3% 283 5% 810 6% 1% 'NEW YORK CURB MARKET By private wire direct to the Star. High. !a'“ Olo;l 5% 1634 504 19% % 104 a1y R--0 EARNINGS JUMPT0 $714000 Profits for Two Months Compares With Only $68,350 Year Ago. B3 the Assoctated Press. NEW YORK, April 2.—Net profits of $714,000 were made by Radio~ Keith-Orpheum Corp. during January and February this year, as compared with $68,350 in the corresponding period of 1936, it was disclosed at a court hearing of claims by trustees of the corporation. Federal Judge Francis G. Caffey re- served decision on an application for an interim allowance of $60,000 for the Irving Trust Co., the trustees, and of $85000 for the trust company's counsel, Donovan, Leisure, Newton and Lombard. Otto C. Doering, representing the latter, brought out that net profits of | the corporation, which is in process of reorganization, for all of 1936 were $2,485,000. Judge Caffey indicated he would grant partial allowances despite ob-‘ jections by George Schein, an attorney, representing an independent stock- holders’ committee. The Judge said many bond holders had written him requesting that a speedy settlement be effected. J. P. Morgan & Co. The March 31 condition statement of J. P. Morgan & Co. and Philadel- phia affiliate. Drexel & Co., shows surplus and partners’ balances of $24,732,541, against $24,547,588, as of December 31, 1936. Deposits totaled $495,559,730, against $478,922,407 at close of the year. Cash holdings to- taled $101,480,512, against $89,657 158, and holdings of United States Government securities were $289,505,~ 515, compared with $297,243,312. American Water Works. American Water Works & Electric Co., Inc., and subsidiaries in the an- nual pamphlet report showed 1936 net income of $4,749,846, equal to $1.58 a common share, compared with $3,494,430, or $1.32 a share for 1935. Net income of the company alone, or actual income which the company received and which was available for payments of dividends on its common stock totaled $2,141,536, equal to 42 cents a share. This compared with $2,200,981, or 57 cents a share in the previous year. Pointing out the consolidated state- ment of earnings was larger than actual earnings of the company alone, the report said this wide difference in the net income between the two statements is due to the fact that the entire earnings of each subsidiary available for dividends on its com- mon stock owned by the company “cannot always wisely be paid out as dividends.” Distillers Corp. Distillers Corp.-Seagrams, Ltd., &nd | subsidiaries, reported net profit for the quarter ended January 31 of $2,701,~ 876 in Canadian currency, equal after preferred dividend requirements to $1.44 a share on the common stock. This compares with $1,859,642, or $1.07 & common share in the preceding quar- ter. White Rock Mineral. Net 1936 income of White Rock Min- eral Springs Co. was reported at $448,- 655, equal after preferred dividend re- quirements to $1.42 a share on the 246,105 common shares outstanding. This compares with $427,626, or $1.33 a share, in 1935, 2t 'm Stock and _ Sal Dividend Rate. Add 00 Stand Oil Neb b25c & Stand O11 Oh1o 11 8 43% 43 43 Stand Pwr & Lt 6 bk 43 b Stand S11&Ld4 (4¢) 13 e ‘e 1 c 5 2 High. Low. Close. 18% 18 133 Stand Tube (B) . T3 7% Starrett Corp vtc. 8 Sterchi Bros a30c 10 Sterchi Bros 1st 3 383 Sterchi B 2d b25c.. 143 Sterl Alum Pa 75¢ 1 Sterl'g Brew a75c. Sterling, Inc(20¢c) Stuts Motor Sullivan Machine_ Sun Ray Dr t80c.. 1 Sunray Ofl (altc) 380 Sunr'yOcupf2% 2 Sunshine Min (3) 2 Superior Port C B Swiss-Am Elec of TaggartCorp .. Tampa El (2.24) ‘Tastyeast(Del)A_ Taylor Dist (30c). 1 Tech Hughes 140c 15 Texon O1l & L 60c 3 Thew Shovel a60c 25s Tilo Roof Ine (1). 5 Tob Prod Exp 16c 12 Todd Shipyd (t2) 1508 Toledo Edis pf (6) 10s Tonopab Belmont 2 Tr-Lux DPS t20c_ Tri-Contl C war _ Transwest Oil Co_. ‘Tubize Chatilifon_ Tubize Ch A (b1). lung-Sol Lamp n_ Tung-Sol L pf 80c. Ulen & Co 5% pt__ Unexcelled Mfg Unit Air war _. Unit Chemical .. United Corp war.. Unit GasCorp .. Utd Gas war United G C pf bl1¥ Unit G&E pf (7) - Unit Lt & Pw (A) Unit Lt & Pw pf Unit Molass b1134 Unit Prot Sh al0c Unit Shipyds B Unit Shoe M 123 Unit 8 Mch pf1.50 U S Foil (B) (1)__ U S & Intl Secur. U S Lines pf - U S Radiator ___. U 8 Rub Reclaim_. U S Stores . _ Unit Stores vte___ Unit Verde Ex (1) Unit Wall Paper._ Univ Pictures . . Utilities P& L (4) UtilP&L B (d) .. Utility Equitie Utilities Ind Utility & Indus nt Valspar vte _ Valspar pf vto._.. Venezuela Petrol . Va Pub Sve of (7). Wagner Bak b40c.. Walker Mining Wayne Knit Mills. Wayne Pump (6Vc Well't'n Ofl of Del Wentworth Manut W Va Coal & Coke Westn A B (a28c) West Au Sup A t4 600s Westn Md pf (a7) 20s Will O11-0-M a50c 1 Wil-low Cafeteria 10 Wilson Jon a2 . Wolver Tube b20c. ‘Woodley Pet t40c.. Wrigbt Harg t400 Ygstn 8tl Door(2) 8% 16)( Yukon Gold(al3c) 8% Dividend rates in dollars based on lll# nu:lrtu-l! or leml-mnllll nmtnl. tAn- 0t .P 3Ac- ' paid last year. this year. d Companies reported as being in bankruptcy es in r.l:-l'enh.l being Hol'tlniud un D‘c' act, Seciritios asbumed. ny oA nlnl.l. A 1508 " N NN RENOR A 8.8 woceSoan & 1 823 1634 104 ki Deficit of $3.83 per Share fud Stock Exchange Closed 1933 1934 Auto Production’ Drops to 99,425 Level for Week BY the Associated Press. DETROIT, April 2.—Cram’s Reports, Inc,, estimated today that this week’s output of the automotive factories would total 99,425 passenger cars and trucks, compared with its revised figure of 101,046 units last week and 108,426 during the corresponding week of 1936. It placed General Motors output at 51,800, compared with 53,635 last week; Ford unchanged at 34,800. No production was recorded [for Chrysler, Hudson and Reo, closed by strikes. ‘Wards automotive reports put this week’s output at 96,710 cars and trucks, compared with 101,115 last week and 106,325 for the like week last year. MEMBER TRADING REPORTED BY S.E. C. | Operations for Own Accounts Reach 21.39 Per Cent of Exchange Volume. E5 the Associated Press. The Securities Commission said to- | day transactions by members of the New York Stock Exchange for their | own accounts amounted to 21.39 per cent of total exchange transactions | during the week ended March 6. Member trading on the New York Curb Exchange amounted to 15.35 per cent. The stock exchange members spon- sored 6.89 per cent of the transac- tions initiated on the floor and 5.86 per cent of the transactions initiated off the floor, while specialists trading for their own accounts accounted for 8.64 per cent of the total. The commission said the round-lot volume for the week was 16,513,920 shares, or 11.2 per cent larger than i reported on the ticker, and the curb | | exchange volume was 3,888,635 shares, | | or 7.4 per cent larger than the ticker | report. | Washington Exchange' SALES—AFTER CALL. Potomac Electric Power 67 pfd.—2 at | | | 114, | Lanston Monotype—10 at 100, 100. Mergenthaler Linotype—10 at 47, 10 at 47. Potomac Electric Power 5% % pfd.—5 at 112. Riggs Bank common—10 at 345, 10 at 340. Bid and Asked Prices. BONDS. PUBLIC UTILITY. B4 10 at Asked. Anacostis & Potomac bBs. 7% L Wash, Gas 5% 1960 Wash. Ry. & Elec. 45 __ MISCELLANEOUS Country Club_5Yas 105 MKt Cold Storage 55 100 STOCKS. PUBLIC UTILITY. Amer. Tel. & Tel. (9) Gepital, Transtt, Co.. . Steamboat (8) Fot Elec. Pow. 6% pfd (8 5Ya% nr (5.50) " o Wash! Ry. G- 7 Ve B &8 S Tos BANK AND flwsr COMPANY. Amer, Sec. & Tr. 95 Col. Wash, 14% 112¥% s 112 115 Natl_Sav. & Trus Pr. Georges Bk. & Tr. (50) Rxlls (ex) ‘Wash, Loan & Tnut (e8) FIRE INSURANCE. American (6) = = 100 Corcoran 16! 108 PFiremen's (1.60) 2 National Union (.60)° 1 TITLE INSURANCE. Columbia_(.30) - 15 Real Estate (6)_ 150 MIsCmANEOUS. Carpel Corp. (2.00! 21 Lanston Monotype (4\ “+100 Mergenthaler Lino. (2.00) " 47 Peoples Drug S. ¢o 07 87 G, bf (+.70) - Letters Above Are Initials of Months: J for Janua | Am Beonles Drug S, oL (8,50 Real Est. 5% Becurmr fitm‘n e (5) 22 & Corp, 80 Wawark toth com (1180 60 Wdwd. & Lothirop pfd. (7)- 112 dividend. 45¢c paid Dec. 22. 1836. COPPER IMPORTS SHOW INCREASE IN FEBRUARY BY the Associated Press. NEW YORK, April 2.—Imports of copper by the United States during February totaled 16,358 tons, compared with 12,367 in January, the American Bureau of Metal Statistics announced. Exports in February aggregated 24,- 400 tons, against 18,926 in January. Consumption of copper by munitions manufacturers in 1936 totaled 5,247 short tons, the bureau stated, compared with 5,145 in 1935. BALDWIN GETS ORDER. PHILADELPHIA, April 2 (#).—The Baldwin Locomotive Works announced the receipt of an order for twelve 4-8-4 type steam locomotives from the Atlantic Goast Line. With tender, each will weigh 445 tons. L) FRIDAY, APRIL 2, 1937. How the Price of Republic Steel Stock Has Fluctuated During the Last Four Years Prices of Republic Steel Stock, 1933-1937 FINANC(AL Earnings Amounted to Earnings Amounted to 49¢ per Share in tween 18.37 and 42.35 Times e | I Earnings AT AR et Ittt el 1935 , F for February, Etc. JFMAMJJASOND JFMAMJJASONDJFMAMJJASOND JFMAMJJASONDJFMAMJJASOND 1936 (Conrren 1997 0 T Cotmnes Tiome . $1.74 per Share in 1936, Stock Sold Between 9.70 and 17.17 Times Earnings Amounted to $8.37 per Share. Stock Sold Between 7.4 and 17.47 Times Earnings 1937 rzfi.&‘- DIVIDEND RESUMED BY AMERICAN CAR Distribution of $4 Ordered on 7 Per Cent Preferred Shares. BY the Assoctated Press. NEW YORK, April 2.—American Car & Foundry Co., announced today resumption of dividends on the 7 per cent non-cumulative preferred stock, with a distribution of $4, payable April 20 to stock of record April 13. It was the first disbursement since June, 1932, when $1.75 was paid. Company’s principal plants are at Berwick, Pa.; Buffalo, N. Y.; Detroit, Niagara Hudson. A special dividend of $25.09 on Niagara Hudson Corp. second pre- ferred 5 per cent series B shares was announced today. It was ordered, the corporation stated, in accordance with forming the new Niagara Hudson |M. Power Corp. It makes final provision | N for payment in fuil of all accumu- lated unpaid dividends on second pre- ferred shares of Mohawk Hudson Power Corp. to date of consolidation, February 1, 1937. The corporation also declared initial dividends of $1.25 each on first pre- ferred 5 per cent series; second pre- ferred series A and second preferred series B shares. All the dividends are payable May 1 to stock of record April 15. INSURANCE STOCKS NEW YORK. April 2 (#.—New Becurity Dealers' Association: Aetna Cas (2a) Aetna Ins (1.60) Aetna Life (.R0a) Am Equit (1.60) Am Wi Wi Wi York Asked. Term RR As Vanadium Corp 5s Vertientes Sugar Co Steel Scrap Price Reported Lower After Sharp Rise B tre Associated Press. NEW YORK, April 2.—Dow Jones & Co. reported today approximately 20,000 tons of No. 1 heavy melting steel scrap had been sold to a mill in Pittsburgh at $23.50 a ton, reducing this grade by 50 cents a ton to $23.00-50. This is the first decline in the recent upward movement of scrap at the peak of which prices were the highest in 12 years. SHORT-TERM SECURITIES. (Reported by Chas. D. Barney & Co.) id. Asked Amer Tel & Tel 5 Auburn Autc Co 4 Callf Packing Corp 5s . Caro, Cling & Ohio 55 1 St. Louis and Chicago. oh esa & Laclede Gas Light ‘55 Lehigh Valle, Lenigh V: Long Island Gen 4 terms of certificates of consolidation |y 2iSuille & Coal 65 193K er Ry 55 1941 s 1938 Nash 45 1040 lchigan cent RR 45 1040 idland RR of N J bs 1040 al Mily & North RR £1as 1830 ML ~ Y. Cht 4 New Yotk 1e1 Co 4128 1440 Pacific RR of Mo 4s 181X penn-Dixie Cement 63 1941 St L 4l 941 Wabash Rwy Co 5s arner Bros fis 1030 estern N Y & Pa 4s 1043 ‘estern Union Tel 3s 1938 DIVIDEND INCREASED. NEW YORK, April 2 (#).—Directors of Beneficial Industrial Loan Corp. declared a dividend of 50 cents a share on the common”stock, payable April 30 to stock of record April 15. previous payment was 45 cents a share January 30. The last Ins Newark (}za)C Am | Am 8u: Automobile | Bait Amer, Carolina (1.3 City of N Y Conn Gen Lif Contin Cas (1.20) Fid & Dep (1g) Firemens Nwk Frank_Pire (1a) Gen Reinsur (2) Glen Falls (1.60) Globe & Rep (1'2a) Globe & Rut Great Amer_ (1a) Hanover 1.60), Hartford Fire (2)", Homestead (1) Maryland Ci Lintoln Fire Natl Liberty- (200 N Hampsnire (1.60) Springfield (413a) - Sun Life (3%4)-. Travelers (16) _. Fire (2) Westchester a—Also extra Or extras s—Declared or paid so far this year. CHICAGO LIVE STOCK. CHICAGO, April 2 (# (United States Department of Agriculture) —Hogs, 6.000 including 3,000 direct: market steady with Thursday's average: ®ood and choice and choice, 2 (1.208) 0. 700 direct: fat upply er, cent from Colorado: practically o early. tradine: ot casional on strictly choice kinds around steady asking unevenly higher. Fat sheep slow, stead: NEW YORK SUGAR. NEW YORK. April 2 (P —Raw sugar was unchanged early today for spots at 3.50. but later shipments were easier with sales confirmed 108.000 bags of Philip- pines for May-June shipment at 3 48 No. 4 futures contract declined under increased ' realizing and liquidation and continued hecge selling prompted by the setback at London. No. 3 showed minor losses and little activity No._ 4 declined - from 1.3315 around to 0. point lower. with July at 2.53 -na September at 2.54 Refined was unchanged at 4.80 for fine granulated. with a good increase of prompt shipments reported. BOSTON ‘WOOL MARKET. BOST April 2 (P (U. 8. Dept. of AsrionTore) domestic_wool quota- tions were steady to firm today, but vol- ume of business was light. Transactions reported were on for piecing out immediate Delaine i quantities at around 1.05. scoured {o‘g’lt‘ood ]mllhl]_ nl:g around 1.02 ) engths. Mills. ang. topmakers showed little in- terest in offerings of contracted Western- grown wools. METAL MARKET. NEW YORK, April 2 (P —Copper, bare- 1y ‘steady:slectrolytic spot. 17 export, 16.50. Tin easier; spot and ' nearby, 2.6214-62.75;_tuture. 62.00-682.12%5. York _spot 05: Ea. . 6.80-6.85, zinc_steady; spot and_future. 750 on, aluminum, an: East_St. . w 1 ) & nmlu T Shtinm: on- quicksilver ASSET VALUE CLIMBS. NEW YORK, April 2 (Special).— Petroleum Corp. of American an- nounces that net asset value per share of 2,000,000 shares of capital stock outstanding at the close of business March 31, 1937, was $25.22. Net asset value of sha outstanding et December 31, 1936, was $23.94 and at March 31, 1036, $20.23. ! First MorTeace LoaNs | District of Columbia— Nearby Maryland— and Virginio— Homes Apartments 7 Business 0 Terms from 3 to 15 Years Also Monthly Payment Loans vRandall H. Hagner & Co. Incorporated 'HOITGAG! LOAN CORRESPONDENT New York Life Insurance Co. 1321 Conn. Ave. N.W. DE. 3600 ON IMPROVED Properties ‘ ‘ | 1 Rkl A-21 BANKS'PURCHASES OF BONDS DROP Buying of Federal lssuest Declines to 5 Millions L During Week. BY the Associated Press. The Federal Reserve Board reported sharp curtallment in purchases of Government bonds by reserve banks | during the week ended March 31. Acquisitions by reserve institutions for the week totaled only $5,000,000, compared with $42,000,000 in the pre- vious week and $56,000,000 in the week ended March 17. Bonds acquired during the week ended March 31 brought these hold- ings to $636,890,000, or $371,000,000 over the same week a year ago. | The reserve banks also increased | their holdings of Treasury bills by | 7,000,000, pushing these holdings to | $574,494,000. The bond and bill acquisitions were matched by a $12,000,000 decrease in holdings of Treasury notes, leaving the reserve banks $1,218,843,000 of the latter obligations. During the last three weeks the banks have acquired | bonds in amounts equal to dispositions of other Government securities. The statement showed excess mem- ber bank reserves climbed $130,000,000 during the week to $1,400,000,000, pre- sumably because of banks' efforts to build up reserve balances in anticipa- tion of a 162; per cent increase in reserve requirements May 1 Gold stock increased $33,000,000 during the week to $11,574,000,000, a new all-time peak. The board’s statement said: “During the week ended March 31 member bank reserve balances in- creased $61,000,000. Additions to member bank reserves arose from in- creases of $33,000,000 in gold stock and $5,000,000 in Treasury currency and a decrease of $92,000,000 in non- member deposits and other Federal Reserve accounts, offset in part by increases of $2,000,000 in money in circulation, $29,000,000 in Treasury | cash and $32,000,000 in Treasury de- | posits with Federal Reserve Banks, and a decrease of $5,000,000 in Re- serve Bank credit. Excess reserves of member banks on March 31 were esti- mated to be approximately $1,400,- 000,000, an increase of $130,000,000 for the week. Inactive gold included in the gold stock and in Treasury cash amounted to $343,000,000 on March 31, an increase of $33,000,000 for the week. “Principal changes in holdings of bills and securities were increases of $4,000,000 in discounted bills, $5,000- 000 in United States bonds and $7.- {000,000 in United States Treasury 2 | bills, and a decrease of $12,000,000 in United Smtes ’I‘reasu OFFICE EQUIPMENT WE SELL, BUY OR EXCHANGE Desks Steel Files Tables Steel Cabinets Chairs Safes BAUM’S FURNITURE HOUSE 1116 Eve St. N. SAVINGS HERE ARE INSURED IS INVITED YOUR ACCOUNT INTERSTATE BUILDING ASSOCIATION PHONE DIS. 9486 WASHINGTON BLDG. 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. EQUITABLE Buiome CO-OPERATIVE ASSOCIATION 915 F STREET N.W. Organized 1879 57" - AND SAFETY WE HAVE chosen the new homes that secure these First Mortgage Notes, with unusual care. Each represents an ample margin of security in a section where the trend ot value is upward. Denominatio ns of $250 up SHANNON & LUCHS REAL ESTATE Members of the Washington Real Estate Board 1505 H St. N.W. National 2348