Evening Star Newspaper, April 6, 1937, Page 18

A—18 kxxk FINANCIAL. THE EVENING STAR, WASHINGTON, D. C., TUESDAY, APRIL 6, 1937. FINANCIAL. POSTAL RECEIPTS TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE CLIMB FURTHER March Total Hits $685,946 Against $601,077 for Same 1936 Month. BY EDWARD C. STONE. Further evidence that business in the National Capital is going ahead steadily came to light today in the report of receipts at the City Post Office in March, the gain being much more notable than at the end of Feb- Tuary. March postal revenues totaled $685,- 946.73, in comparison with $601,077, in March, 1936, an outstanding increase of $84,869.73, and one of the sharpest advances in several months in com- parison with the like periods a year ago. Today's figures also made available comparisons for the first quarter of 1937 with the same quarter in 1936. Receipts at the City Post Office in the | first three months of the present year amounted to $1,845348, against $1,-/ 791,675 a year ago, a gain in 1937 of $53,673. | This gain, however, is not nearly as | Impressive as the March figures, the reason being that postal revenues recorded a drop in January. Follow- | ing December receipts, which smashed | all previous records for Christmas holiday business in the history of the Capital, there was naturally a let | down in January. That slump \Jrought | the gain for the three months below | the sharp pick-up for March alone. 1 Postal receipts are considered a par- ticularly accurate indicator of busi- ness conditions and trends. They are | made up of money taken in for regu- | lar postage, special delivery stamps, airmail, registered mail, parcel post and other sources. For the first three months of 1937 these revenues com- pare as follows with the correspond- ing months in 1936: 1937 1936. January - $577,503 $612,593 February 581,899 578,005 March - 685,946 601,077 Total ——-———- $1,845,348 $1,791,675 Most Loans at 6 Per Cent. | Member banks in the Federal Re-| serve system most frequently charge their customers 6 per cent for loan: Reserve Board governors report as |he result of a recent surv In larger cities a rate of 5 per ccm and frequently as low as 1l per cent | was charged, but in small cities and towns “country” banks charge 8 per | cent and 10 per cent, according to the board’s study. These rates show al slight decline from pre- depresswn levels, the board said The board evplamed that 6 per cent was the rate ‘“most frequently” charged, that is, on the largest num- ber of loans, whereas the largest dolla.r\ volume of loans probably is made by city banks at much lower rates. Passenger Gains Gratifying. E. H. Whitlock, general agent in‘ Washington of the Great Northern | Railway, which has just reported net earnings in 1936 of $3.98 per share, | against $2.87 a years ago. reports that | officials were especially pleased with | the gains in passenger travel. The Great Northern was one of the very first roads to adopt the lower fares, coach fares at 2 cents a mile and first- | class fares at 3 cents. The road was severely criticized by Eastern rail of- ficials. The results, however, have far exceeded expectations, In a statement sent White & Rowe, Thatcher C. Jones, | economist of Independence Fund of | North America, says that the Supreme | Court’s validation of the Washington | State minimum wage act, in which | it was recognized that the geneml‘ welfare of the public requires pro- tection of women and children, will be accepted by the public as a great boon to this class, which is more or less defenseless in its bargaining power. Though higher wages will raise the cost of production of minor industries and possibly result in higher prices for their products, it is improbable that the results will have any important bearing on profits or security values of the great majority | of companies whose securities are of general investment interest, the econ- | omist adds. Auto Club Membership Grows. An increase of 117.6 per cent in membership of the Keystone Auto- mobile Club during the first three months of 1937, as compared with the corresponding period of last year, is reported by George E. Keneipp, club manager, who considers this growth as a reliable index of the local eco- nomic situation, which he describes as being “remarkably substantial and showing improvement.” The Keystone executive added that “it is significant that the gains have been made from month to month without a relapse, further indication of the steadiness of the local business status.” Heard in Financial District. Robert L. Flather, assistant secre- | tary of the American Security & Trust Co., is back at the bank after an illness ®f several months. He received a most cordial greeting and a big basket of flowers. One of the city’s younger bankers, he has been chairman of the Advertising Commit- tee of the District Bankers' Asso- ciation and served on other impor- tant committees. Paul J. Seltzer, president of Wash- ington Chapter, American Institute of Banking, attended the thirtieth annual banquet of Essex County Chapter, A. 1. B, at Newark, N. J., Saturday night. Special guests were L. C. Freer of the instiute’s executive council; Garrett A. Denise, president New Jersey Bankers' Association. and James M. Pittenger, president, Essex County Bankers' Association. The speaker was James Lee Ellenwood, State secretary of the New York Y. M. C. A. Today's Trading on Exchange. ‘Washington Railway & Electric | preferred stock sold at 109 on the Washington Stock Exchange again today. In the bond division City & Suburban 5s came out at 84. Among | the stocks now being quoted ex-, dividend are Riggs National common, American Security & Trust and Se- curity Storage. National Dairy Products Corp. re- that on March 31, 69,712 in- dividuals, corporations, trusts and other public institutions held common stock of the company. This compares with 69,963 common shareholders on December 31, 1936, and 70,950 on March 31, 1936. President Thomas J. Groom of the District Bankers’ Association reported today that much enthusiasm is being manifested in the annual Spring dinner to be held at the Columbia Country Club Wednesday, May 5. Looks like a capacity attendance, around 250. to Slauson, I 105% o » 138 129% 100 363 113 1175 51% 108 18% 13% 17% % 39% Cons Edis N Y1 Private Wire Direct to The Star. Allied Chem (6) Allied Mills (b50c)_ 161 Allied Stores (b20c) 81 Allled Strs pf (5) _. 6314 Allis-Chalm (b50c)- 47 Amal Leather _ 101 Amerada Corp (2) -~ 83 Am Ag Chm Del b1._. 28% Am Bank Note (1) 61% Am Brake Sh (12) __ 1% Am Bra Sh rts Ap 16 125 Am Brake Sh pf 5% 105% Am Can (14) 56 Am Car & Foundry 92% Am Car & Fy pf(b4) 72 Am Chain & Cabl__ 135 Am Colortype % Am Comel Ala50c_. 28 Am Crystal Sug b2.. 81x Am Encaustic 71 Am & Foreign Pw 46% Am & For Pw $6 pf 54 Am & For Pw $7 pf_ 20% Am & For Pw 2d pf.. 18 Am Hawaiian (1) 612 Am Hide & Leather. 171 Am Ice pf (2) Am Interntl (a40c) - 43 Am Locomotive ___ " 114 Am Loco pf (a3) 223% Am Mach & F (+1) _. 11 Am Mach & Met 60c. 50% Am Metals 62 Am News (N Y) (3) 1113 Am Power & Light. s Am Pw & Lt pf (5) - 66 Am Pw & Lt pf (6) 241 Am Radiator t60c _ 2315 Am Roll Mill 11.20 . 1 Am Safty Raz (12)_ 231 Am Seating (a2%) - 41 Am Shipbldg (2) 851; Am Smelt & Ref(3). 105 Am Sm & Ref pt(6). 571: Am Steel F (b50c)_ 47 Am Sugar (2) Sum Tob (11) -~ Tel & Tel (9) Tobacco (5) Tobacco B (5) - Type Founders_ Water W (80¢) - Woolen Woolen pf (b1)- Writ Paper (d) - Writ Pap pf (d) Zinc & Lead > Am Zinc & Lipr pf__ 21y Anaconda Cop (11) 3 Anaconda Wire (+2) 18 Anchor Cap (60c) _ 106 Anchor Cap pf 635 . 512 A P W Paper 41 Archer-Dan-M(i2). 7 Armour(Ill) bise . . 817 Armour(I11)pr pf 6. 591, Armstrong Cork(2) 14~ Arnold Cnst b623;c. 13 Artloom Corp 19'« Assoc Dry Goods 497 Asso Invest (72) 6912 Atch T & S Fe(a2) 100% Atch T & S F pf(5) - 441x Atl Coast Line(al) 30 Atl Refining (1) ___ 16% Atlas Corp (80c) ... 5012 Atlas Corp pf (3) Atlas Pwdr pf (5)-- 14 Auburn Auto u\ Austin Nichols 391 Austin Nich pf (1) 6% Aviation Corp Del . & Baldwin Loco (d) £6% Baldwin Loco pf(d) 7ix Baldwin asd (d) - 20% Baltimore & Ohfo .. ix Baltimore & Oh pf_. Bangor & A pf (5) .. s Barber Co (a75¢) Barker Bros pf 2% . & Barnsdall (1) 161 Bayuk Cigar t75¢ 2475 Beatrice Cream t1.. 13 Belding Hemin (1) 2414 Bendix Avia(b25c) - 20% Benef Ind Ln (b95c) 73 Bethlehem (allg) . 185 Beth 5% pf (1) 120% Bethlehem pf (7) Bigelow-San b50c ) Black & Deck b50c.. Blaw Knox (b20c)._. Boeing Airplane Bohn Alum & B(3) = 41 41% Bon Ami (B) (2 261 Borden Co (1.60 7214 Borg-Warner (4) 84 Boston & Maine _ 16% Bridgept Brss(60c_. 4514 Briggs Mfg (12) 4375 Briggs & Strat (3)_. 41% Bristol-Myrs 2.40._ 40 Bklyn-Man Tr (4) _ 97 Bklyn-Man T pf(6)- Bklyn & Queens - % Bkn & Q T pf (3) 1x Bklyn Un Gas (3) Brown Shoe (3) 20'; Brunswick-Balke 19'; Bucyrus-Erie 10814 Bucyrus-E pf (7) 11% Budd (EG) Mfg ___ 913 Budd Wheel(a20¢) - 343 Builard (b25c) 51 Bulova Watch (14)- 30% Burr Add M (80c) 244 Bush T Bldg pf(d) . 1312 Butler Bros (b15c).. 291, Butler pf (1%) 5% Butte Cop & 7(a5¢c)- 27 Byers (AM) . 81 Byers (A M) pf. 27 Bwron Jackson (11). 2% Callahan Zinc-Lead. 15 Calumet&Hecla (1). 30% Campbell Wy (t1).. z. 2 Canada Dry G Ale__ Canadian Pacific Cap Adm pf (A)(3)- Carriers & Gen (b5c) Case(J I)Co (4) 116 Case(J I)Co pf(7)_- 8515 Caterpillar Tr (f2)_ 265 Celanese (b75¢) 10612 Celanese pr pt A(7). 13 Celotex Corp 14 Cent Aguire (11%)_ 81 Central Foundry 30 Central RRof NJ. 17 Cent Violeta Sug _- 671 Cerro de Pasco (4) . 16% Certain-teed Prd 677 Certain-teed pf (6)- 13 Champion Pap (1) 108% Champion P pf (6) - 78% Chesapeake Crp(3)- 57% Ches & Ohio 12.80 _. 67% Chi & Est I11 pf (d)- 28 Chi Grt West (d) _. 814 ChiInd & L pf (d)_. 28% Chi Mail Ord 1% 2 Chi Mil §t 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 61% Chi Pn T pf b873%c_. 214 Chi R 1 & Pac (d) _ 5% Chi RI&P 6% pf(d). 6% Chi RI&P 1% pt(d). 213 Chi Yellow Cab (2)_ 123 Childs Co 4615 Chile Copper (1) 110% Chrysler (b1%) 187 City Ice & Fuel (2). 85 City Ice & F pf 6% 8Y City Stores 32% Clark Equip(11.60)- 105 Clev ElIllupf 4% __ 35 Clev Graph Br (2) __ 78 Cluett Peabody (3)- 126 Cluett Peab pf (7)_ 19% Colgate-P-P(150c) - 54 Collins & Afk (12) 108% Collins & Alk pf(5)_ 43 Col Fuel & Iron(bl) 21 Colo & Southern 24 Colo & South 1st pf_ 15 Columb G & El(40c) 96% Col G&Ept A (6) - 32% Columb Pic vte (1) 112% Col Carb vtc (t4) .- 567% Comcl Credit (t4)_. 66 Comel Inv T (t4) . 17% Comecl Solv (160c) .. 3 Comw & Southern_. 55% Comw & Sou pf(3) 13% Conde Nast Pub 36% Congoleum-Nrn(2).- 17 Conn R & L pf 13% Consol Cigar 5n 7 104% Cons Ed N Y pf(5). 147 Cons Film pf (a2).. 9% Cons Laundries...— 15% Cons Oil (80¢) - - 19 108 11 35% 167 331 67% 277 821y 32 4% 163 31% 33 147% 50% 8l 2 153 408 9100 91100 60 19 03 = TR0 O b 60s 51 2 208 2 4 402 1 1 108 44 3 20s 3 80s 160s 67 119% 13% 6814 123% 19% 89% 9% 33% 108% 3813 91 128% 23% 54% 109 42% 24 25% 15% 97 33% 122 2:15 p.m. Prev 1937 Stock and “Bales— Net High. Low. Dividend Rate. Add 00. High. Low. Close. chg 69 58 Abr& Strauss (b1)- 20s 67 65 67 +38 80% 63% Acme Steel (4) .. 1 76% 76% 76% —1% 228 15 Adams Exp (ab5¢) 11 20% 19% 20 — % 28% 247% Adams Millis (bl1) .. 2 2T% 27 27 36 311 Addressograph (1)~ b 32% 32 32 —% 4% 3 Advance Rumely. __ 1 3% 3% 3K+ h 80% 70% Air Reduction (1)_ 4 71 70% 70% 5% 3% Air-Way Electric 3 3% 3% 3%-—Y 15% 13% Alaska Jun (t60¢)-. 22 14% 14 14% + % 5% 37 Alleghany Corp..... 28 &k 4% 4% — % 52l 41k Alleg Corp pr pf._. 2 4313 Alleg pf ww $30 D 43 Alleghany pf xw.___. A 615 Alleg Steel (b40¢) - 3 130 +2 1081 — % 62 —% 98% + % 81% + 9 20 29% — % 29 1155 =3 10% — % 49's +1% 581y 29 -1 19% — % 9% — 3 28 =% 18 =% 80 =% 114% — % 24% — % 11 + % 60 —1% e s - % =0 - 2% — % 18% — % 181, 45 = % 42 2 + % 96% — % | %+ % i 42 | v 1 ‘ 1’4 97y — 15 40 ~ 5215 — 8 0% — % 3515 +1 161 33 — 1 6% 2714 — % 215 31 — % 4% = % 16% — % 31— 321 — % 141 — 15 50% 8 —-% 153 —4 19 -1 92 35% + % 110 +1 43 + % 341 — 13 9% — 14 33 +1% 17% — % T 17% 0 —% 55% — % 1084 —1% 85% +3% 61 — % 1% + % 3% 9 28% —1% 28 5% - % 5 —% 15% + % 28 + % 644 — % 3% + 1% A 8% — % 22 —% 13 -1 6615 — % 123% 19% — % 89% + % 8% — % 328, —114 108% + % 381 — % 91 -1 128% — % 22% —1 54% + % 109 + % 41 -2 24 26% — % 16% + % 97 + % 331 122 -8 59% + % 67 + % 17% — % 3 59 +2 U -1 4 -y 16% ~ % U —-% 39% — % 105% 15% 1% + % 17% - % Prev High. 105 3 IBDB. 29 96 25 46% 51 123 % 31y 8l 18014 1154 17 175‘4 90 511y 58 67y 8l 5002 4T 141 0% 108 105 5814 17% 8 109% 157 126 39% 52% 30% 43 431 2T% 94 175 90% 5% 23% 2% 38 42% 144 334 6 13% 11% 284 9 59% 189 111% 162 16% 164 18% 3% 24 17% 8% 120% 556% 10 8% 2% 23% 19% 109% ‘2125 Detroit Edison (t. 16 Davega Stores(f1)._. 20% Davega cum pf 1% - 4 104% Deere & Co - 29' Deere & Co pf 1.40__ 22 Deisel-Wem-G(f1). 4214 Delaware & Hudson 1714 Del Lack & West 30% Diamond Mth (b50c) 2415 Distil Corp Seag_ 90 Dist CS pf ww (5). 20% Dixie Vortex(1%)__ 37% Doehler Die Cast(2) 45 Dome Mines (12) 10% Dominion Stores. 58% Douglas Aircraft. 2% Duluth SS&Atl pf_ 61 Dunhill Internatl_ 156 Du Pont (b75¢c) 12 Dugquesne 18t (5) 111 Eastern Roll Mills 159 Eastman Kodak(6)- 32 Eaton Mfg (t2)_ 11% Kitington-Schild 235 El Paso Nat G 1.60 3813 Elec Auto Lt 12.40 12 Elec Boat (a60c) 5% Elec&Mus I (al8¢c)-. 21% Elec Pow & Light_ 69 Elec Pw & Lt $6 pf. Elec Pw & Lt $7 pf_ 403 Elec Storage Bat (3) 114 Elk Horn Coal (d) .- 514 Elk Horn C1 pf (d) 554 Endicott-John (3) . 2 108% Endicott-Jhn pf(5) . 11 Eng Public Serv 68 Eng PS §51; pf bdlg '3 Equitable Office B._. 137 Erie RR . 26% Erie R R 18t pf. 22 ErieRR2dpf_ 121 Eureka Vac (80c).. 28! Evans Prod (11) 4!z Exchange Buffet. Fairbanks Co 20% Fairbanks Co pf. 56 Fairb'ks-Morse (1) 5314 Fajardo Sug Co (b1) 93 Fed Lt& T pf (6) - 662 Fed Min & Smelter 812 Federal Motor (40¢) 4% Fed Water Svc A __ 3613 Fed'd Dept Str(2) . 101 Fed'd DScupf4%- 40 Fidel Phoenix t1.60. 32% Firestone T&R (2) - 103% Firestone pf A (6) .. 46y First Natl Strs t2% 397 Flintkote Co (1) 48 Florence Stve b50c_ 6% Follansbee Bros(d). 4712 Food Machine (1) ._ 116'2 Food Mach pf(4%). 43 Foster-Wheeler 118 Foster-Wheeler pf_. 26% Freeport Sulph (1)- 4% Gabriel Co (A) 25% Gamewell Co 5% Gar Wood (a55¢) » Gen Am Inv(a75¢) 7013 Gen Am Trans (a3). 15% Gen Baking (160c). 10% Gen Bronze._ 25" Gen Cable _ 54 Gen Cable (A)_. 44 Gen Cigar (14) 52% Gen Electric (b40e) 391x Gen Foods (2) 213 Gen Gas & Elec(A) - 57 Gen G&E 6% cv pfA 60 Gen Mills (3) 117% Gen Mills pf (6) 60% Gen Motors(b25¢)... 115% Gen Motors pf(5) .. 122 Gen Outdoor Adv 17 Gen Print Ink new. 51! Gen Ry Signal (1) 413 Gen Realty & Util_. 39 Gen Realty & Upf_. 60% Gen Refract (a3%). 7313 Gen Steel Cast pf___ 28 Gen Thea Eq(b25¢). 15% Gillette S Raz (11).. 201 Gimbel Bros - 838 Gimbel Bros pf(6). 435 Glidden Co (2) 54!z Glidden cv pf(2%)-. 513 Gobel (Adolf) 6% Goebel Brew (20c). 31 Goodrich(BF)(al). 273 Goodyear (b50c) _. 100 Goodyear cu pf(5) 10% Gotham Silk Hose.. 92 Gotham S H pf (7) 3 Graham-Paige 6% Granby Cons (n 75 Grand Union ctfs___ 21% Grand Union pf(b1) 3813 Granite City St1(1)_ 42 Grant (WT) (11.40) 40% Grt Northern pf_ 19 Grt Northn Ore (l)_ 356 Grt West Sug 12.40 34 Green HL (11.60) . 14% Greyhound (180¢) . 11 Greyhound pf(55¢) 3 Guantanamo Sug-- 40 Guantanamo pf_ 51% Gulf Mobile & N pf- 325 Hack W pf A (1%) 13%; Hall W F Print__ __. 104’3 Hamilton W pf 6)- 101% Hanna (MA) pf(5)- 50% Harb-Walker (12) .. 135 Hat Corp of Am 80c. 57 Hayes Body - 101 Hazel Atlas Gl (?5) 13% Hecker Prod (60c)... 111% Helme (GH) ($5) ... 31% Hercules Motor (1) 47 Holland Fur(al%)- 21 Hollander & Son(1). 31% Holly Sugar (12) 355 Homestake (t12) 22% Houd-Her B (1135)_ 90% Househ'ld Fin pf(5) 1214 Houston Oil vte 62% Howe Sound (13) 4 Hudson & Manhat.. 18% Hudson Motor.. 1% Hupp Motors 22% Illinois Central_.... 36% Indus Rayon (2) 130% Ingersoll Rlnd('z). 22% Inspiration Cop 5% Ins Sh Md ct (a20c). 10% Inter Rap Tr vtc(d) 4% Intercontl Rubber. 16% Interlake Iron 5 Intl Agricultural 42 Intl Agricul prpf_ 159% Intl Bus Mach(16)_. 101 Intl Harvester(2%) 146 Intl Harv pf (7). 8% Intl Hydro E1 A 6% Intl Mercantile M_. 14% Intl Mining (a90¢)-. 62% Intl Nickel (b50¢) -~ 16% Intl Paper (A).. 7% Intl Ry Cent Am - 615 Intl Ry Cent Am vtc 48 IntiIRyCAmpfA_. 45% Intl Shoe (12)- 31% Intl Silver 11% Intl Tel & Tel 28% Interstat Dp St b2% i 103% Inter Dept 8t p£(7)- 25% Island Creek (2) 134 Johns-Manv (13) 123 Jon&L 7% pf(bl% 38 Kalamazoo S (t1)-- 20 Kans City South._.. 281% Kaufmann (+1.60)-. 24 Kayser J & Co (2) - 17% Kelsey-H A (.12:)— 15 Kelsey-H B (al 102 Kendall pf A (16)_. 56% Kennecott (b50c) . 17% Keystone S&W b30c 39% Kimberly Clark(1)- 5% Kinney (G R) Co_... 4T% Kinney pf (81) - 24% Kresge 8 8 (b30e) 708 1 10 00 1= 00 1O A B e 8 5.3 Sl 3 & 3 P 8 1 0 6 4 2 2 49 10 19 108 1 ® S e - > [ PR T T R PSOPRIVY. PSS e s Sopal? P 108 ol 508 1 20s 80s 1 & 1108 208 908 34 5 10s 3 100 I 1937 Stock and Low. Dividend Rate. 7% Cons R R Cuba pf.. 2 7 Cons Textile (d).- 27 1!/. 8% Cons Coal(Del)vte.. 127 13% 38 Cons Coal Del vto pf 14008 52% 20% Container Corp 1.20. 143 33% 27% Contl Baking (A) .. 6 30% 3 Contl Baking (B)_.. 12 4% 1027% Contl Baking pf(8). 2 103 59% Contl Can (3) .. 7 5% 20% Contl Diamond (2)-. 2 21% 8815 Contl Insur (11.60). 6 38% 2% Contl Motors 12 40% Contl Ol Del (Tl)- 51 26% Contl Steel (b50c) .. 2 % 65 Corn Prod Ref(t3).. 4 4 167% Corn Prod R pf (7). 2 12 1 12 291; Cream of Wheat(2). 1 21% Crosley Radioall% - T T1% Crown Cork & S(2) . I 17 Crown Zeller(new) . 292 99 Crown Zell cu pf(5). 14 51 Crucible Ste: 1 2 CubaCo.. 2 10 Cuban-Am Sugar. 6 110 Cuban-Am Sug pf_.. 10s 15% Curtis Publishing.. 6 96% Curtis Pub pf (7). 5 614 Curtiss-Wright____. B8 19% Curtiss-W (A)a50c. 43 80 CushmanSpf3i%._. B50s % 108 59 21% 38 96 13 51 324 29% 4 103 moo.ltl’h.h'. Olose. ehll!. % + % +3 + % —14 -% - % -% 112% 14% 2% 6% 15643 112% 8% 103t 534 14% S 105% 13% 115 29% 47% 28% 34 409 22% 90% 141 80 4% 21% 1% 33% 43% 5 Y% 107% 107% + % 28% 28% + % 136 136 125% 125% + ‘4 40 42% 8l — (] + % % - % 2:16 p.m. 2:15 Prev 1037 Stock and Sales— Net | Prev1937 Stock and Bales— Net High.Low. _ Dividend Rate. _Add 00, High, Low. Close. chge. | High.Low. _ Dividend Rate. Add 00. High, Low. Close. chge. 24% 22 Kroger Groo (11.60) 3 22% 22% 22% — % | 48% 331 Revers Copper 14 46% 45% 45% — % 27% 20% Laclede Gas (StL). 80s 201 20 20 — % | 95% 93% RevereCoppf5i 94 41% 32 Laclede Gas pf. 1 4 | 30% 25% Reynolds Met (11)_. 24 181 Lambert Co (2).. 1 34% 247% Reynolds Spr (f1) 17% 15 Lane Bryant . 1 58 50% Reynolds Tob B (3). 27% 17 Lee Rubber (50c)_. 2 14 = 13% Rhine Westphalia 51% 38% Leh Port Cmt 1% - 3 313 24% Ritter Dental (11) . 3% 21 Lehigh Valley Coal. 7 86% 72 Roan Antel (al.12)_ 15'«, 13% Lehigh ValCoalpf. 8 9% 6% Rutiand RRpf____. 17% Lehigh Valley R R. 13 64 40 Safeway Stores(t2 187 118 Lehman Corp (13).. 2 103 971 Safeway Strs nt(s)) 79 67% Libbey-O-F (b75c)- 3 113 109% Safeway Str pf(6) - 15% 9% Libby McN & L(al). 4 113 110 Safeway Strs pf(7). 283, 25% Life Saver (+1.60) 2 65 43% St Joseph LA (b50c). 517 £54 113% 100 Ligg & Myers (t4)_. 2 4% 3 StL-SanFran(d)_. 2 4 3% 114 100% Ligg & Myers B 14 11 11% 6% St L-San Fr pf (d)_. S0 8, 175 149 Ligg & Myers pf(7). i 27% 14% Savage Arm (al) __ 1 24% 24% 23 21% Lily Tulip (f1%)... 1 421 Schenley Dist(b75c) 4 48% 47% 8315 59 Lima Locomotive... 1 2 Schulte R Strs (d).. 4 215 2% 61 52 Link Belt (12) 3 17 Schulte R S pf (d)-. 1 200 201 53% 4 *. Liquid Carb (2.60)_. 1 38 Scott Paper (1) __ 208 41 41 82% 6413 Loew’s Inc (+2) 22 1% Seaboard Afr L (d)- 38 1% 1% 110 106% Loew’s Inc pf(6%2) - 1 6 Seaboard A L pf(d). 1 6% 6l 3% 2% LoftInc _ 6 40% Seaboard Ofl (1)_. 29 53 75% 66 Lone Star Cmtb7sc. 3 14 Seagrave Corp. 6 10% 6% Long-Bell Lumb(A) 4 Sears Roebuck (3).. 12 43% 37 Loose-Wiles (2) __. 1 Servel Inc (1) 9 28% 22% Lorillard P (11.20)_ 10 Sharon Stl (1.2 7 28% 19% Lou Gas & Elec (A). 1 Sharpe & Dohme __. 14 41% 29% Ludlum Steel (1) 9 Sharp & Do pf(3%). 2 36 3012 McCall Corp (12).. 5 i Shattuck F G (60c)- 1 A 2404 McCrory Stores 4 Sheaffer Pen(b1% ). 108 40 407 5414 McGraw Elec (12) 3 Shell Un Oll (a25c). 7 3% 32k 421, Mclntyre Porcu(2). 6 Shell Un Oil pf 6%-. 4 103's 103% 421, McKeesp't Tin Plate 2 Stlver King (b25c)_. 80 16 15% 16% McKesson & Rob _ 13 Simmons Co (bs0c)- 3 54% b4 19 McLellan Strs b7oc. 4 6 SimmsPetrol_____. 4 4 4 6214 Mack Trucks (t1) 8 B6% bBh% 6% + % Skelly Oil .. 23 60 57% 68 —I% 5814 501 Macy (R H) (2)_ 2 52% 52 B2 2 99 Skelly Oil pf (6)_——. 2 100% 100% 100% — % 16% Madison Sq G(80c)- 2 13% 13 13% + % | 197 85Y% Sloss-Sheffield Stl__ 1008 183 180 180 —1 63 Magma Copper (2).. 3 57% 56 56 —2 | 120 105 Sloss-Sheff pf (6) _ 380s 107 m., 107 +2 T Manati Sugar (d)-. 1 T T T%— %| 40% 27'% Smith & Cor ctfs(1) 32 324 + % 30 Manati Sug pf (d) 2 + | 54 40% Smith (A O) 4 — 1 Manati pf ctfs (d)__ 3 29% 23 Snider Pkg (b13z) - Mandel Bros (b1) _ — u| 19 4 Socony-Vac (b2ie) - ¢ Man El md gtd (d) . + % 6% 4% South Am G & P 30¢c Manhat El gtd (d) " outh Port Sug(2) Maracaibo Oil Exp_. - % So Porto R S pf(8)_ i Marine Mid (+40c)_. - 4 So Cal Edison 113 _. Market St Ry - 14 Southern Pacific Market St Ry pf ___ -2 Southern Ry Market St Ry 2d pf_ Southern Ry pf_ Market St Ry pr pf_ —14 Spalding (A G)_. Marshall Field - Spalding 1st pt Martin-Parry -5 arks- Withing Masonite (+1) Spear & Co (ai0c) __ Mathieson Alk(1%) + 14| 36 313 Spencer Kell (1.60)_ ' May Dept St (i3) — % | 23% 191; Sperry Corp vtc(al) 5% 12 Maytag Co (a50c) + % Spicer Mfg (a3) 111 106% Maytag 1st pf (6) 4+ 18 33% 25% Mead Corp + y 101 85 Mead Corp pf (6)- +2 16% 11% Mengel Co Stand Brands(t80c) 478 41% Mengel Ist pf (214)- “ Stand Com Tobac _. 721, 59 Mesta Mach (b1%)_ and Gas & £l (d) - 261, 16% Miami Copper tand GRE $4 pf(d) 35% 2914 Mid-Cont Pet al.15_ 3815 Midld St Prod(12)_ 120% Minn-Hon Ros (2 Minn Moline Pow Minn Moline Pw pf_ M St P&S S Marie _ M St P&S S M pf M St P&S S MlsIn Mission Corp (a45c) Mo Kans & Texas Mo Kans & Tex pf A Mo Pacific (d) Mo Pacific pf (d) Mohawk Carp(1.20) Monsanto Chm (11). Montg Ward (2) _ Morris & Esx ( 2 Mothe Lode a1z} Motor Wheel (1.60) _ Mueller Brass (11) - Mullins B (a50¢) 5 Mullins pf (7) Munsingwear (3) . Murray Corp(as0e). Nash Kelv (1) Nashv Chat & atl Acme (a atl Aviation (al). atl Biscuit (1.60)_ atl Biscuit pf(7) .. atl Bond & In 1.44 “% Natl Cash Reg (1) . Natl Dairy Prd 1.20 atl Dairy pf B (7) atl Dept Stores __ atl Dept Strs pf Natl Distillers(+2)_ Natl En & Stpg (2) - atl Lead (t50c) __ tl Lead pf B (6) - atl Mall & S C b50c tl Pw & Lt (60c) - atl Ry Mex 2d pt Natl Steel (1232) - Natl Supply Co atl Supply pf a313 atl Tea (60c) Natomas (180c) ewport Ind(b50c) - Y Central YChi&StL YChi&StLopf. Y City Omnibus _ Y Omnibus(war) - Y Dock . N Y Dock pf NYNH&H (d NY NH & H pf (@) N Y Shipbuilding_ N Y Shipbldg pf _ N Y Steam pf (6) Norfolk South (d) .. North Am Aviation._ North Am Co(b30c) North Am Co pf (3) North Am Ed pf (6) Northern Pacific 3% Norwalk Tire & R - 17% Ohio Oil (a60c) 5314 Oliver Farm Equip- 18% Omnibus Corp vte . 13% Oppenheim Collins_. 357 Otis Elev (60c) - 1613 Otis Steel . ___ 75 OtisStlcvpf (5%)- 19% Pac Am Fish (11.20) 11'5 Pacific Coast_ 25% Pacific Coast 1st vf. 21% Pacific Coast 2d 26Y Pac Finance(11.80). 31% Pac Gas & Elec (2)_ 4314 Pac Lighting (3) - 343, Pac Mills (b50c) .. 22Y Pac West Oil(aé5c). 10% Packard Mot (b15¢c) 11% Pan Am Pet (a60c)- 2% Panhandle P& R __ 60 Panhandle P&R pf- 76 Paraffine Co (b1). 223 Paramount Pic 203 Paramnt 2d pf 60¢ 2813 Park & Tilford (2)-. 41 Park Utah 38 Parke Davis (b1) __ 247 Parker Rust (1%)- 5% Parmelee Trans - 814 Pathe Film Corp __. 1414 Patino Mines(t60c) 3% Peerless Corp 50% Penick & Ford (13)._. 97 Penney J C) (4) 4% Penn Coal & Coke 7% Penn Dixie Cement_ 64 Penn Dixie pf (A) 22 Penn Gl Sd cta50c 39% Penn Railroad (a2)- 34 Pere Marquette 17% Petr Corp Am a90c 10% Pfeiffer Brew (1.20) 505 Phelps Dodge b35c 915 Phila Rap Tr pf(d). 1% Phila & Read C & I 71% Philip Morris(b3%) 4914 Phillips Petrol (2) 16% Pierce Oil pf 50 Pirelll (A) (a3.13)__ 13% Pittsburgh Coal 134 Pitts Screw&B blbe. 243 Pitts Steel 103 Pitts Steel pf 2% Pitts Term Coal 201 Pitts Terri Coal pf.. 3% Pitts United 24Y% Plymouth Oil (t1) 187 Pond Creek Poc (2). 25% Poor & Co (B) 714 Porto R Am Tob A 10% Postal Tel&C pf(d). 25 Pressed Steel Car 67 Press Stl2d pf 2% - 55% Proctor & Gam (12). 43 PubSve N J (2.60)_. 100% Pub Sve N J pf (5)-. 119 Pub Sve N J pf (6)-. 60% Pullman Inc (1%) 19% Pure Ofl 18% Purity Bak (60¢)_. 10% Radio Corp 74% Radio pf A (!%) 7% Radio-Keith-Or (d) 31 Raybestos M (t1%) 39% Reading RR (2) __. 45% Reading 1st pf (2) 9% Real Silk Hoslery 18% Reliable Str (a50¢c) - 33% Reliance Mfg (160c) 21% Rem-Rand (160c) 5 Reo Motor Car 27% Republic Steel _ 109 Republic pf (b1%)_ 24% — % 110% 99 Republic prpf A(6) f [l (] FlH141 2 1081 10813 21 Kl 21 814 38% + % | 1474 50 1% + % | 3y - % 76 76 +1 -5 ST 30 30 + 53% 5% — & 4 381 38% 381+ % 2 25% 2513 254 —1 12 6% 6 6 —u T 8% 8% 8u—% 17 19 18% 18% — % 7 6% 6 6h—h 1 51% 514 51k — % 4 99% 970 99% +1 4 5% 4 5 2 9% 9n 9% 3 661 664 661 —1% 125 25 25 +%4 27 46% 46% 46% — % 1 45% 45% 45% —1% 8 20% 20% 20% — % 5 11 10% 11 27 511 49% 50% —1 10 10% 10% 10% + % 10 1% 1% 1% 9 e T1 Tl — % 42 58% 57% 5814 — 14 2 20% 19% 19% — % 208 521 52U 52% — 3 4 16 16% 16% + % 4 17% 17w 1Th — % 4 36 —1 109 10 3 3 3 208 23% 23% 23% + % 1 6w 6% 6% 16 28% 2T% 274 — 2 21 20 21 +1 321 26% 26% — % 1 7% M M- % 3 1% 1k 1% ! 5 25% 25W 25% — % 2 69% 68 68 ~—1 3 604 59% 59% + 4 12 45 441 44% — % 1 103% 103% 103% + 7 1 119% 119% 119% + 4 5 611 61 61— % 53 21% 21 204 — % 4 103% 103% 103% + % 2008 110% 110% 110% 5 20% 20 20 — % 243 11% 10% 11% + % 8 75 T4k T5 + % 222 9% 8% 9% + % 7 83 32 33 +2 141 41 41 41 145 45 45 —% 3 10% 10 10 —% 5 20 20 4 34% 33% 33% — % 10 25% 24l 24% — % 87 84 Th 8 + W 153 43% 42% 43% -1k 3 117% 117 117% +2% 2 109% 109% 109% { ' nd Oil Calif (1) tand Oil Ind (1) __ Stand Oil NJ (1) _ terling Prod 13.80 - Stewart-Warn t50¢ Stokely Bros (11) _ Stone & Web(a25c). tudebaker Corp Swift Intl Ltd i Symington ww Symington xw bl0c. Talcott (J) b30c _. Telautograph(60c) - Tenn Corp (aldc) Texas Corp (2) Texas Gulf Pra5c _ 2 Texas Gulf Sul (12) Tex Pac C&O bl0c . Texas P L T (al0c). Thatcher Mfg (11)_ The Fair pf (7). Thermoid Co . Third Avenue Thompson J R t50c Thompson Pr b40c 4 Thompson Starrett. Thompson Star pf _ Tide Wat A O (60c) Timken Detroit t1__ Timken Roller B(3) Transamerica t40c Trans Wst Air a2ic Transue & W (160c) Tri-Contl (a50c) Truax-Traer(b2sc). Truscon Steel 20th Cent Fox bs0c_ 20th Cent F pf(13). Twin CR T pf al4 _ Twin Coach (al.40)_ i Ulen & Co Union Bag & P (2)_. 4 Union Carb (3.20) _ Union Oil Calif (1)~ Union Pacific (6) Union Pacific pf(4)_ Utd Aircraft(as0c). Utd Afr Linesa20c. Utd Biscuit (1.60) __ Utd Carbon (4) - Utd Corp (a20¢) %+ Utd Corp pf (3) Utd Drug (aT5c¢) . Utd Elec Coal _ Utd Fruit (+3) Utd Gas Imp (1) _. Utd G Imp pf (5) “td Paperboard ___ U S Distributing Distributing pf_ & For'n Secur _ 8 ERSE T g Ep g TN M S s < 2+ W +1 S o 2 Ram na e o wlnwlsn~n o 2 t 2 US & For'n 1st (6) _. U S Gypsum (12 17 U S Hoffman 3712 U S Indus Alcohol . 6% U S Leather vtc _. 13% 1] S Leather(A)vtc. 60% U S Pipe & Fdry(3). 13% U S Realty & Imp 44% U S Rubber 9214 U S Rubber 1st pf. 831 U S Smelting (b4)__ 126'2 75 U S Steel 150 139% U S Steel pf (7) - 169 160% U S Tobacco pf (7). 9% 7 Unit Stk Yds (50c) - 8% 5% Utd Stores (A) 3 4 3 Util Pw&Lt (A)(d% 10 3w 3 3%+ 4% 2% 1% Vadsco Sales Corp.. 8 2 1% 2 + 4w 581, 48 VadscoSalesCpf__ 30s 52 51 51 393 284 Vanadium Corp ... 2 35 34 351 — % 46'2 42'3 Vick Chemical (12) - 1 4312 4312 431 12 7% Va-Car Chemical 183 12% 12 12% + ¥ 71 54'x Va-Car Chem 6% pf 12% 8% Va Iron Coal&Coke 37 26'2 VaIronC&Cpf. 10% 3‘- Wabash (d) . 18% Wabash pf (A)(d)_. 16 ’m Wabash pt (B)(d) . A 19% 15'% Waldorf Sys(11.20) 3 164 16w 1614 — 14 33 29 Walgreen Company 1 301 30% 301 118 112'¢ Walgr'n Copf (6%¢) 20s 113% 113%: 113% + Y% 49% 45% Walker (H) (2) 2 46 462 46y 18% 11% Walworth Co 11 17% 16% 17% 503 42 Ward Baking (A) 2 43w 43 43 —1% 10% 6% Ward Baking (B) 12 9% 8% 8% — 4 18 13% Warner Bros Pict 36 14% 144 14% — % 13, 7 Warner-Quinlan(d) 11 k3 x % 12% 6% Warren Bros (d) 8 2 46 35% Warren Fdy&P(t1) 2 38% 31 Waukesha Mot (1) ¥ 9% 6% Webster Eisenlohr. : | 2% 1% Wells Fargo 100s 56 46 Wesson O&S (150c) 100% 90 West Penn El pf(6) 10s 115% 11313 West Pa Pwr pf (6) 808 1232119 West Pa Pwr pf (7) 20s 11% 8% Western Maryland . 3 4% 2\ Western Pacific - 1 11% 7% Western Pacific pf_. 2 83% 70% Westn Un Tel (3) __ 12 57% 474 Westingh'se A B(1) 4 167% 135% Westingh'se El (b1) 7 30% 25% Weston EI Inst a85c 2 65 38 Wheeling Steel 2 33% 23% White Motor = 13 ] 18% 15% White Rk M S(1.40) 2 Vg — 6% 5% White Sewing Mach 1 + 46 38 White Sew Mch pf_. 2 - 6% 4'3 Wilcox Oil & Gas 17 - 12% 8% Wilson & Co (50c) .. 12 10% 10% 10% — % 91% 79% Wilson & Co pf (6) - 1 86% B86% 863 + ¥ 656% 51% Woolworth (2.40) 30 54 52% 53 — % 47 34% Worthington Pump. 6 39% 39 39 —1u 112% 81 Worth Pump pf(A) 1508 110% 109 109 -1 100 77% Worth Pump pf(B) 3 94 93% 9814 — % 128 110 Wright Aero (al)_.. 40s 110% 108 108 —2% 76 68% Wrigley W Ir (13)_. 1 69% 69% 69% 37% 20% Yellow Tr & Coach 34 31% 30% 30% — % 142 128 Yel Tr&Cpf(bl%) 10s133 133 133 ~—1 46% 40 Young Spr&W(t3). 2 41% 41% 41% 101% 75% Ygstn S&T (b75c) - 12 92% 90% 91% — % 115 99% Ygstn S&T pf (5%). 1 100% 100% 100% —1 40% 33 Zenith Radio (bl).. 3 34 33% 34 —% 9% T% Zonite Products__.. 2 T™H Th % Approximate Sales of Stocks on the N. ¥. Stock Exchange. 11:00 P.M. . 290,000 12:00 Noon. 520,000 1:00 P.M._ ., 690,000 0 P.M 950,000 cash payments based on the latest quarter] Dividend rates as given in the table are the annual abov Ty or half-vearly dec- . A SRS Lo g, 100, harew, HAsogs) e n oxtras, 3 ¢° “-‘;,L'éu‘_unr'u'u 18 Fecetveranip oF beins reorsanised. = ! | ferrous metals reacted in sympathy s | volume expanded on the afternoon 12 | fluenced by easiness of other markets | Putures closed st cady &l Hig! STEEL SHARES DIP $110 §3 OR MORE Many Other Issues Go Down Nearly as Much—Vol- ume Expands. Stock Averages 30 Indust. 96.0 96.3 101.1 854 101.6 941 99.3 rifls 0. ofls ¢ —1 467 468 50.4 491 540 46.4 53.7 Net change. Today, noon Prev. day.._ Month ago. Year ago... 1937 high 1937 low. 1936 high. 1936 1932 1929 1927 1.1 1.3 748 64.3 153 69.1 2.8 46.0 464 473 374 495 318 435 73.4 302 434 537 175 8.7 239 169 146.9 153.9 184.3 157.7 516 953 618 61.8 (Complled by the Assoclated Press.) BY VICTOR EUBANK, Associated Press Financial Writer. NEW YORK, April 6.—Steels broke 1 to more than 3 peoints in today's stock market and many other issues back-tracked for losses of nearly as much. Wall Street could find little in the news to weaken the list, although another decline in United States Gov- ernment securities, following word from Washington the Treasury would be ferced to borrow new cash to meet | an upward revision in the budget. was | thought to have been a restraining influence. Grain futures fell sharply and non- | with a downturn in London | Stock dealings were unusually quiet | during most of the proceedings, but | sell-off. Some support appeared in the final hour and most severely depressed leaders finished above their day’s lows. Transfers were around 1,250,000 shares. Chrysler did better for a while as the financial district heard predictions the corporation’s strike negotiations were about to be concluded amicably. | It fell back with other former favorites later. General Motors also stumbled. | Conspicuous on the retreat were United States Steel, Bethlehem, Re- | public, American Steel Foundries, | Youngstown Sheet & Tube, Goodyear, United States Rubber, Anaconda, Ken- necott, International Nickel, Phelps | Dodge, Woolworth, J. 1. Case, Deere, Douglas Aircraft, St. Joseph Leac American Telephone, Standard Oil of New Jersey, Texas Corp., Seaboard Oil, | Westinghouse, Du Pont, General Elec- | tric, Skelly Oil, Barnsdall, New York Central, Southern Pacific, Baltimore | & Ohio, Paramount and Loew's. | In the resistant division, some end- |ing with moderate advances, were | Crown Zellerbach, Container Corp., ‘Inlemanmnal Paper, Virginia Caro- lina Chemical, Industrial Rayon, | Celanese and Montgomery Ward ‘Ummes were only fractionally arrears. NEW YORK COTTON BY the Assoctated Press. NEW YORK, April 6.—Cotton de- clined today under liquidation in- and absenee of fresh buying. July sold | off from 14.35 to 14.26 and prices gen- erally in midafternoon showed net losses of 9 to 13 points Cottonseed Oil. Bleachable cottonseed oil futures closed easy. May, 11.08; July, 11.17; | September, 11.18; October, 11.03b. | Sales, 95 contracts including 24 | switches. b—Bid. | New Orleans Prices. NEW ORLEANS, April 6 (#.—An easier tone prevailed at the open of rieans mar! ay under to be lit July at 14.31 lary at 13.88 appeared d at 14 X and Ja ted 4 | to encourage liquidation in new crop posi- A better tone to weather reports te | tions. but offerings were scanty | The trade was beginning to turn its | attention to acreage estimates by private agencies. So far they generally showec an increase over last year ranging from 10 to 15 er cent. | Cottonseed oil futures opened steady | M: 10.68b: July. 10.76b; September October. 10.61b. CHICAGO GRAIN | BY the Associated Press. | CHICAGO. April 6.—Corn prices ;suddenly collapsed 4 cents a bushel lnte today and dragged wheat down shnrplv Indications were that corn and wheat had both been at least tempo- | rarily overbought to an unusual ex- |tent. Cash and elevator interests took to the selling side of the corn market, and many stop-loss selling | orders were automatically forced into | execution before trade rules halted the price tumbles at the limit of 4 | cents. | At the close corn was 3%a4 cents | under yesberday's finish, May 1.28%, July 1.20%a':; wheat, 1lgal% off, May 1417331 42 July 1.28%ga%; oats, 13a2lg down, and provisions varying from 7 cents setback to 20 cents gain. WHEAT— Open. 0115 1.01%-% 81'% 13110 1317 July 16.85 Chicago Cash Market. Cash wheat, No. 2 dark, hard, 1.43%; No. 5 dark, hard, 1.40%2; corn, No. 3 yellow, 1.36% -3814; No. 3 white, 1.39%-41%: oats, No. 2 white, 552~ 5612; No. 3 white, 56; no rye; barley feed, 75-85, nominal; malting, 1.00-27, nominal; timothy seed, 4.75-5.25 per hundredweight; clover seed, 28.00- 34.00 per hundredweight. timore otation: - murmlo&s "A'pr]l‘lq: Jm": heat, o Winter _garlicky. " s fomestic, 1.51%:; April 1.5 ol ipex Pri % P —Grain range