Evening Star Newspaper, April 16, 1937, Page 18

A—I8 34 35 3k e AT SESSION HERE D. C. Financiers and U. S. Officials Will Be Heard by Auditors. BY EDWARD C. STONE. ‘Washington bankers and Govern- ment officials will appear among the able speakers secured for the fifth Eastern regional convention of the National Association of Bank Auditors and Controllers who meet here next week at the Wardman Park Hotel, the pro- gram announced today by Millard S. Yeatman dis- closes. Sessions are to be held on Friday and Sat- urday and more than 250 dele- are ex- McKee, chairman of the Washington Clearing House Association and president of two banks, will welcome the visitors, the response being made by William E. Westman, Webster & Atlas National Bank, Boston. The first address, “The Banker's Problem,” will be presented by Robert O. Bonnell, president, Morris Plan Bank, of Balti- more. “Educational Developments in Bank | Accounting and Auditing” is the topic assigned to Ralph Endicott. assistant treasurer, Washington Loan & Trust | Co., who is at present teaching a class | in bank accounting and auditing in ‘Washington Chapter, American In- stitute of Banking. He has also taken deep interest in the work of the auditors’ section of the District Bankers' Association, which is spon- | soring the national convention. { John D. Hospelhorn, deputy bank | commissioner of Maryland, is also among the Friday morning speakers, “The Bank Commissioner’s Problems” being his subject. The luncheon guest speaker will be T. R. McKeldin, a Baltimore attorney. Three speakers will address the afternoon session, John Driscoll, Philadelphia, on “Com- parative Costs and Operating Effi- ciency”; James E. Potts, Boston, on “Branch Bank Accounting and Con- trol,” and John A. Reid, Boston, “Cor- relating Trust Audits With Examina- tions.” Two roundtable conferences are | slated for Friday evening, one cun-' ducted by Arthur K. Schulz, Chase National Bank, and the other by W. T. Vandoren, vice president and cashier, Liberty National Bank, this city. On Saturday Chester W. Hoyt, Albany, will talk on “Relationship Between Directors, President and Auditor.” L. R. Pennington, special ‘agent accountant, Bureau of Investi- gation, Department of Justice, will discuss “Bank Frauds.” In the after- ‘noon the delegates will visit the De- partment of Justice for a special tour. Strickland Gillilan is to be toastmaster at the informal dinner Saturday night and the guest speaker, Edward Stone, chief, Community Organization and Maintenance Section, Management Division, Resettlement Administra- tion. Keane Heads Enterprise Loan. Michael A, Keane was re-elected president of the Enterprise Building Association at the forty-fifth annual meeting held this week. Fred Kraus was elected vice president, Martin A. Cook, secretary; James E. Connelly, treasurer, and Francis J. Hayes, assist- ant secretary. George 1. Borger, Bernard R. Ed- wards, Maurice Fitzgerald, C. F. Gib- son, P. F. Hannan, Ralph A. Judd, Ed- ward T. Kehoe, sr., and Frank J. Torrans were re-elected directors. The association, organized in 1892, reported one of its best business years. | A dividend of 5 per cent was paid on all shares during the last year, Presi- dent Keane stated. Dealers Push Self-Regulation. Dealers connected with the In- vestment Bankers' Conference, a na- tional organization having 1,710 mem- bers and headquarters in Washington, have announced tentative approval of & set of rules covering fair practices in the over-the-counter investment bus- iness. The new rules are intended to supplement regulation by the Securi- ties and Exchange Commission. Standards were suggested concern- ing information and advice to cus- tomers, commissions and other charges and the use of money to in- fluence transactions or publicity. Means for hearing complaints against members and imposing penalties for violations of the rules, if adopted, also were proposed. James M. Landis, chairman, in a statement compli- menting the conference, said: “The field for effective work of this char- acter designed to elevate standards of business conduct, to achieve self- discipline and to bring about a gen- eral recognition of the grave respon- sibilities of those engaged in the in- vestment banking and securities bus- iness is extensive. I shall follow this hase of the work of the conference with keen interest.” Heard in Financial District. Twenty class I railroads in the Bouthern district had estimated oper- ating revenues in March of $33,550,479, compared with $27,694.588 in March, 1936. Freight revenues amounted to $27,935,512, compared with $22,896,- 186; passenger revenues, $2,993,317, against $2,481,743. 1. J. Roberts, assistant cashier of the Riggs National Bank, and Miss Catherine M. Krieg, also of Riggs, are in the “Hall of Fame” in this month's bulletin issued by the American In- stitute of Banking. The magazine conducts a very elaborate questions column and each month announces those at the top of the list. Southern Bell Telephone & Tele- graph Co. of Atlanta has filed a reg- istration statement under the securi- ties act of 1933 covering $45,000,000 of 25-year 314 per cent debentures due April 1, 1932, of which $42,500,000 are to be offered publicly. Swift & Co. call for redemption May 15 at principal and interest $1,000,000 of first mortgage sinking fund 3% per cent bonds, due May 15, 1950. Today's Trading on Exchange. Trading opened on the Washington Btock Exchange today with 15 con- secutive 10-share lot sales in Potomac Electric Power 5!, per cent preferred stock at 112. Sales totaling 58 shares were recorded in Washington Railway & Electric preferred at 109. Capital Transit opened at 14 and closed 8t 13%. On the Boston Exchange this week Mergenthaler Linotype sold at 48%, a gain of 2% points. Boston is where most of the recent sales in this stock originated. Ralph Endicott commission | 1 Firual Prev 1937 VCL1AL. By Private Wire Direct to The Star. 2:16 p.m. Stock and .Low. Dividend Rat 63% Acme Steel (4) ____.. 15 Adams Exp (a55c) 2474 Adams Millis (b1)_. 30% Addressograph (1)-. 3 Advance Rumely. __ 6815 Afr Reduction (t1)_ 314 Air-Way Electrio__. 18% Alaska Jnn (+60c) 3% Alleghany Corp.cem. 43% Alleg pf ww $30._ . 4113 Alleg Corp pr pf__.. 36% Alleg Steel (b406).. 22 Allen Indus t1) 5814 225 Allied Chem (6) 33% 21 831 39% 7k 1147 1011, 41% T5% 80% 160 121 71 91 2514 Allied Mills (b50c) 16!4 Allied Stores (b20c) 63% Allis-Chalm (b50c) - 301 Alpha Port Cmt (1), 47 Amal Leather 9814 Amerada Corp (2) .- Am Ag Chm Del b1_. 251 Am Bank Note (1). 59 Am Bk Note pf (3)_. 58 Am Brake Sh (12) __ 125 Am Brake Sh pf 6% 101% Am Can (t4) 2 56 Am Car & Foundry_ 72 Am Chain & Cabl__ 13544 115 Am Chain & C pf 5_. 23% 303 99y 1312 13% 6875 11% 558 528 191 33 70 3% 83 10% 27% 22 157 135% 21% 92 105 384 113 42% 25% 104% 62% 112% 51 30 20% 39% 13% Am Colortype 263% Am Comcl Al a50c_ . 9412 Am Crys S 1st pf 6 8% Am Encaustic. T4% Am & Foreign P 54 Am & For Pw 87 pf_ 6 Am Hide & Leather. 3Tl Am Hide & L nf (3). 45% Am Home Pr 12.40 213 Am Ice 17'%% Am Ice pf (2) 13% Am Internt] (1400)_ 43 Am Locomotive __ 22% Am Mach & F (1) 50% Am Metals £ 62 Am News (N ¥) (3) 105% Am Power & Light_ % Am Pw & Lt pf (5)._ Am Pw & Lt pf (6) - Am Radiator 160c 154% Am Radiator pf (7). % Am Roll Mill 11.20 .. Safty Raz (12). Seating (a23)_ Shipbldg (2) __ Smelt & Ref(3). Steel F (bs0c) St1 F rts May 15 Sugar (2) H Sum Tob (tl)_- 1674 Am Tel & Tel (9) - 7812 Am Tobacco (5) - 803% Am Tobacco B (5) _. 143, Am Type Founders.. 207 Am Water W (80c) . 9% Am Woolen _ 64 Am Woolen pf (bl). 6% Am Zinc & Lead 441, Am Zinc & L pr pf__ 5215 Anaconda Cop (1) 79 Anaconda Wire (12) 18 Anchor Cap (60c) .. 515 AP W Paper 41 Archer-Dan-M(12). 7 Armour(lli) blse _ 817 Armour(Ill)pr pf 6. > Armstrong Cork(2). % Arnold Cnst b623;c. 181, Assoc Dry Goods 95% Associates Inv u“ 691 Atch T & S Fe(a2) . 100'« Atch T& S F pf(n) 4414 Atl Coast Line(al) _ 3 Atl Gulf & Wst Ind. 3015 Atl Refining (t1) 16% Atlas Corp (80c) 502 Atlas Corp pf (3) 7214 Atlas Pwdr (b75c) 28Y% Auburn Auto 7Tl Austin Nichols _ 6% Aviation Corp Del__ 8 Baldwin Loco (d) _ 863, Baldwin Loco pf(d) 6z Baldwin asd (d) .. 8813 Baldwin pf asd(d) 20% Baltimore & Ohfo % Baltimore & Oh p: » Barber Co (a75¢) 25% Barker Bros = 38 Barker Brospf 2% 26% Barnsdall (1) 1613 Bayuk Cigar t75¢c 24 Beatrice Cream t 123, Belding Hemin (1) 233 Bendix Avia(b25c) 20% Benef Ind Ln (b35c) 73 Bethlehem (al%).. 18% Beth 5% pf (1) ... 20 Bethlehem pf (7) ... 52 Bigelow-San b50c... 41% Bon Ami (B) (2%) 257 Borden Co (1.60) 724 Borg-Warner (4) 2% Botany Mines A(d).- 16% Bridgept Brss(60c & Bridep't Br rts Ap29 454 Briggs Mfg (12) . __. 437 Briggs & Strat (3) .. 41'% Bristol-Myrs 12.40_. 377 Bklyn-Man Tr (4) 9675 Bklyn-Man T pf(6)- 5% Bklyn & Queens s Bkn & Q T pf (3) 38'% Bklyn Un Gas (3).. 20% Brunswick-Balke 181 Bucyru 10% Budd ( .10‘. Bulova Watch (t4). 30's Burr Add M (80c) . 132 Butler Bros (b15¢) .. 5% Butte Cop & Z(asc) . 25% Byers (AM).. __ 77 Byers (A M) pf__. 27 Bwron Jackson (t1). 38!% Calif Packing (1%). 2% Callahan Zinc-Lead. 14% Calumet&Hecla (1). 29% Campbell Wy (1) 273 Canada Dry G Ale__ 14 Canadian Pacific___ 49Y% Cannon Mills(b50c? 50 Cap Adm pf (A)(3)- 7 Carriers & Gen(bsc) 138 Case(J I)Co (4) 116 Case(J I)Co pf(7) .. 8515 Caterpillar Tr (72). 26% Celanese (b75c) __ 10614 Celanese pr pf A(7). 3612 Celotex Corp 76 Celotex Corp pf(S).. 33% Cent Aguire (11%). 8% Central Foundry .. 30 Central RRof NJ.. 17 Cent Violeta Sug . 10% Century Rib M b20c. 674 Cerro de Pasco (4). x 16% Certain-teed Prd___ 677 Certain-teed pf (6) - 35% Champion Pap (f1)_ 78% Chesapeake Crp(3)- 57% Ches & Ohio 12.80__. 91 Ches&OhpfA (4)- 67 Chi & Est I11 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 61% Chi Pn T pf b873c.. 2w Chi R 1 & Pac (d) .. 5% Chi RI&P 6% pf(d). 6% Chi R1&P 7% pf(d) 213 Chi Yellow Cab (2) 18 Chickasha Cott'n Oil 12Y% Childs Co 1108 Chrysler (b13%) 187 City Ice & Fuel (2) . 85 Citylce& Fpf6%. 84 City Stores ___ 321 Clark Equip(t1. 60). 105 Clev El Illu pf 4% 35 Clev Graph Br (2).. 191 Colgate-P-P(150c) .. 102% Colgate-P-P pf (6)-. 53 Collins & Afk (12)_. 1081 Collins & Aik pf(5)._ 39 Col Fuel & Iron(bl) 23 Colo & South 1st pf_ 13% Columb G & El1(40¢) 323 Columb Pic vte (11) 125% 112% Col Carb vte (14) ... 69% 56% Comcl Credit (14)__ 114 100 ComclCred pf (4%) 80%, 21% 414 19% 45% 18% 49% 108 5% 18% 17% 10% 1% 18% 52% 3% 3T% 5% 698 25% 64 Comel Inv T (t4) _. 16% Comel Solv (160c) .. 27 Comw & Southern. 13% Conde Nast Pub__ 363, Congoleum-Nrn(2 13% Consol Cigar 3812 Cons Edis N Y (12).. 104'% Cons Ed N Y pf(5).. 4% Cons Film ——— 147 Cons Film pf (a2) 15% Cons Oil (80c) —— 7 Cons R R Cuba pf_.. 7% Cons Textile (d) 8% Cons Coal(Del)vto_ 33 Cons Coal Del vte pf 120 20% Container Corp 1.20. 27% Contl Baking (A)._. 3 Contl Baking (B)... 55% Contl Can (3) ... 20% Contl Diamond (2)-. i3 Bales— Add 00. High, Low. Close. chge. 75 75 75 18% 26% 32 3 5% 3% o BHARR A NS00S0~ o o 8 oo UL~ - O S SN YOO ~JOre) 18% 26% 32 3 T4% THE EVE Net 18% — 26% + 32 - 3 % + % 3% 18% 4% 52 103% 603 93% 4 139 20 A ARE A 14+ 101 SERSSEFR FLERE SELLFE Prev High, 4238, 127 1097 83 23% 181 135'% 313 29 58% 2 1461 361 40% 23 29 1070, 6 2 10915 17 5915 343, 36 205 5812 8 157 126 673, 52% 30% 46% 144 131Y% 33 6 13% 11% 28% 914 6319 11114 162 167 15% 18% T3% 24% 18 9% 121% 58% 111% 155 136 46 29 35 23% 19% 137 21 NG 2:15 p.m. 1037 Stock and Low. Dividend Rate. 37 Contl Insur (11.60). 2% Contl Motors __ 40% Contl Oil Del (t1) 26% Contl Steel (b50c) 637% Corn Ex Bank (3)__ 64 Corn Prod Ref(t3). 6 Coty Inc.. 46 Crane Co 29% Cream of 21 Crosley.-Radioall 70% Crown Cork & S(2) . 43 CrnC&S pfxw 2% _. 17 Crown Zeller (new) - 99 Crown Zell cu pf(5). 51 Crucible Steel _. 2 CubaCo . _ 11% Cuba R R pf 10 Cuban-Am Sugar 110 Cuban-Am Sug pf.. 39% Cudahy Pkg (2%) 15'% Curtis Publishing._ 921 Curtis Pub pf (7). 613 Curtiss-Wright 18% Curtiss-W (A)as0c. 15% Davesa Stores(t1) 104% Deere & Co 293 Deere & Co pf 1.4 22 Deisel-Wem-G(11)_ 4214 Delaware & Hudson 17% Del Lack & West _ 122 Detroit Edison (14). 301 Diamond Mth (b50c) 36'% Diamond Mpf(t1%) 21% Diamond T Mot b25¢ 24% Distil Corp Seag 41% Dome Mines (¥2)_. Dominion Stores. 541 Douglas Afrcraft.. 49 Dresser (A) (a3)- * Duluth § S & Atl 15% Duplan Silk (1) ____. 154 Du Pont (b75c) 112 Duquesne 1st (5)_ 15814 Eastman Kodak(6) - 31% Eaton Mfg (12) % Eitington-Schild El Paso Nat G 1.60 88 Elec Auto Lt 12.40 11% Elec Boar (a60c) 5'x Elec&Mus 1 (al8e)- ) lec Pow & Light lec Pw & Lt $6 pf lec Storage Bat (2) Ik Horn Coal (d) .. 1k Horn CI pf (d) 2 Endicott-John (3) ng Public Serv _| quitable Office B ureka Vac (80c)_. 2814 Bvans Prod (11) 4% Iixchange Buffet. 313 Fairbanks Co 20% Fairbanks Co pf - 56 Fairb'ks-Morse (11) 531 Fajardo Sug Co (b1) 812 Federal Motor(40c). 5'3 Fed Screw Works 4% Fed Water Sve A Fed'ted Dep S pf 41 % Fidel Phoenix 11.60. “ Firestone T&R (2)_ um. Firestone pf A (6) irst Natl Strs 123 lintkote Co (1) Florsheim A (2) __ “ollansbee Bros(d). 0od Machine (1)__ oster-Wheeler _ ranklin S pf(a3ii) « Freeport Sulph (1) Freeport Sul pf(6) . 34% Fuller Co 2d pf 455 Gabriel Co (A) 23 Gamewell Co 144 Gar Wood Ind assc. 1214 Gen Am Inv(aTic)-. 101 Gen Am Inv pf (6) .. 69% Gen Am Trans (a3)_ + Gen Bakint (160c) 5 s Gen Cable (A) Gen Cable pf (a7) 517 Gen Electric (b40c) 39's Gen Foods (2) 2% Gen Gas & Elec(A)_ 69 GenG&ES% pfA_ 60 CGen Mills (3) 57% Gen Motors(b2ic) _. 114'; Gen Motors pf(5) 12 Gen Outdoor Adv en Outdoor Adv A_ P) rint Ink new.._ 48 Gen Ry ‘l;nal (1)L 3% Gen Realty & Util 39 Gen Realty & U pf__ 60 Gen Refract (a3%). 2715 Gen Thea Eq(b! 37 Gen Time Instru<1_ 15% Gillette S Raz (11)_ 2014 Gimbel Bros _ 43 Glidden Co (2) 5% Gobel (Adolf) _____ 612 Goebel Brew (20c). 31 Goodrich(BF)(al)_ 791 Goodrich pf (5) 27% Goody'r T&R b 100 Goodyear cu pf(§ 10% Gotham Silk Hose 3 Graham-Paige ranby Granby rights Ap 26 » Grand Union ctfs 40% Grt Northern pf 19 Grt Northn Ore (1)_ 35 Grt West Sug 12.40_ 321 Green H L (71.60) 13% Greyhound (180c) . 10% Grevhound pf (55¢) 3 Guantanamo Sug_- 40 Guantanamo pf 1213 Gulf Mobile & N___. 49% Gulf Mobile & N pf_ 3213 Hackensack W bi0e. 3215 Hack W pf A (1%) 1314 Hall W F Print ___. 50% Harb-Walker (12)_. 5% Hayes Body Z 13 Hecker Prod (60c)_. 11115 Helme (GH) (15) . 59 Hershey Choc (13)_ 45% Holland Fur(al%)_ % Holland Fur pf(5) Hollander & Son (1) Holly Sugar (2) ... Homestake (112) 21% Houd-Her B (T135). 57% Household Fin (4)_. 1213 Houston Oil vte 623 Howe Sound (13) 4 Hudson & Manha 11% Hudson & Man pt 1814 Hudson Motor 1% Huop Motors 221 I1linois Central 63 Il Centlsin (4 36Y% Indus Rayon (2) 129% Ingersoll Rand(12)- 112 Inland Steel (4) .- 224 Inspiration Cop 5 Insur Sh Md (b10c) 97 Inter Rap Tr vte(d) 4% Intercontl Rubber-. 16% Interlake Iron g 5 Intl Agricultural _ 42 Intl Agricul pr pt 99% Intl Harvester(2%) 146 Intl Harv pf (1) .. 8% Intl Hydro E1 A _ 612 Intl Mercantile M 12% Intl Mining (a%0c)_. 6214 Intl Nickel (b30c) - 16'3 Intl Paper (A) 10% Intl Paper (B) 5% [ntl Paper (C) 90% Intl Paper pf 3 41 Intl Print Ink (+2) 109% Intl Print Ink pf(6) 7% Intl Ry Cent Am 45% Intl Shoe (2) __ 31% Intl Silver 90 Int Silver pf (b 11% Lntl Tel & Tel 28% Interstat Dp St b2% 19% Intertype Corp (1)_. 25% Island Creek (2) 77 Jewel Tea (14)._ 127 Johns-Manv (13)._. 123 Jon&L 1% Dt(bl!.) 38 Kalamazoo S (11) 20 Kans City South 28% Kaufmann (11.60) - 17 Kelsey-H A (all)-. 14% Kelsey-H B (all)_. 55% Kennecott (b50c) -. 17% Keystone S&W b30c 3814 Kimberly Clark(1) - 515 Kinney (G R) Co__. 47% Kinney pf (al) sl 241; Kresge S S (b30c) _ 22 Kroger Groc (11.60) 1814 Lambert Co (2) 17 Lee Rubber (50c) 38% Leh Port Cmt 1% 24 Lehigh Valley Coal. 13 Lehigh Val Coal pf.. 17% Lehigh Valley R R_. 118 Lehman Corp (13)_. 18 Lehn & Fink(al%). 48% Lerner Stores(12) _ 661 Libbey-Owens-F (3) 9% Libby McN & L(al). 25% Life Saver (11.60)_. 88 Ligg & Myers (14)-. A Bajes— Add 00. High, 1 o S = S Low. Close. 37% 3T 2% 2% 45% 47 30% 30% 6913 694y 63% 63% 814 49% 32% 21% 6% 41 378 3 48 24 14+ 1+++1 11 STAR, WASHINGTON, D. C, BANKERSTOSPEAK TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE Net cnge. + % + % -1% -1% % % g o B L R o i S 106 1514% o N TR D < TroaoR-~ 69 13% 2% 27 .98 .98 -% + % —a% Prev 1937 Stock and .Low. ' Dividend Rate, 98 Ligg & Myers B t4.. 43% Liquid Carb (2.60) .. 64% Loew’s Inc (12) - 2% Loft Inc__ 56 Lone Star C: 615 Long-Bell Lumb(A) 22% Lorillard P (+1.20) - 19% Lou Gas & Elec (A). 87% Louis & Nash b2 _. 29% Ludlum Steel (t1) __ 3314 MacAndrew&F (12). 2915 McCall Corp (+2) __. 1814 McCrory Stores _ 40% McGraw Elec (12) 20% McGraw H P b27%e 3714 Mclntyre Porcu(2) - McKeesp't Tin Plate McKesson & Rob __ McKess & Rb pf(3) Mack Trucks (1) __ Macy (R H) (12) Madison Sq G(80c) - Manati Sugar (d) Manati Sug of (d)_. Mandel Bros (b1) 10% Man El md gtd (d)- 22 Manhat Shirt (1)___ 4% Maracaibo Oil Exp_. 10% Marine Mid (t40e)_. 2 Market StRy. 29% Market St Ry pr pf_ 4314 Marlin Rock (12) 187 Marshall Field Martin-Parry . Masonite (11) Mathieson A]k(l%) May Dept St (13)_ Mead Corp Melvillo Shoe (15)_- 4 Mengel Co Mengel 1st pf (235)- Mesta Mach (b1%)_ Miami Copper . __ Mid-Cont Pet al.15_ 4 Midld Stl Prod (12)_ > Midld Stl 1st pf(8) _ Minn-Hon Ros (2)_. Minn Moline Pow.__. M St P&S S Marfe__ Mo Kans & Texas Mo Kans & Tex pf A Mo Pacific (d) Mo Pacific pf (d) __ 4 Mohawk Carp(1.20) Monsanto Chm (+1)._ Montg Ward (12) > Mother Lode a123e. Motor Prod (12) __. Motor Wheel (1.60) _ Mueller Brass (+1)_ Mullins B (a50¢)___ Mullins pf (7) Munsingwear (3) Murphy G C (2.60) _ Murphy G Cpf (5) . Murphy rts May 10_ Murray Corp(ai0c). Myers (F E) (b1) Nash Kelv (1) Nashv Chat.& St L. Natl Acme (aTie) Natl Aviation (a1)_ Natl Biscuit (1.60) Natl Bond & In 1.44 Natl Bna&l pf A(5) Natl Cash Reg (1) - Natl Dairy Prd 1.20 Natl Dairy pf B (7) Natl Dept Stores __ Natl Dept Strs pf __ Natl Distillers(t2)_ Natl Lead (50c) __ Natl Lead pf A (7)_ Natl Mall & S C b50¢ 5 Natl Pw & Lt (60¢)_ Natl Ry Mex 2d pr.. Natl Steel (12%) _ Natl Supply Co 4 Natl Supply pf a3’ Natl Tea (60c) __ Neisner Bros (12)__ Newport Ind(b50c) - N Y Central £ N Y Cent rts Mayl NYCh&StL NYChi&StLopf N Y City Omnibus __ Ny Omnibus(war)_ N Y Dock SR N Y Shipbldg pt Norfolk South (d) .- North Am Aviation_ North Am Co(b30c) Northern Pacific Norwalk Tire & R_.. Ohio Oil (a60c) 2 Oliver Farm Equip- Omnibus Corp vte.. Oppenheim Collins. Otis Elev (60¢) ._ Otis Sti ev pf (533) Pacific Am Fish 1.20 Pacific Coast 1st pf Pacific Coast 2d : Pac Finance(11.80). Pac Gas & Elec (2)_ 2 Pac Lighting (3) Pac Mills (b30c) - Pac Tel & Tel (8) __. Pac West Oil(ab5e} Packard Mot (b15¢) Panhandle P & R Panhandle P&R pf. Paramount Pic .. Paramnt 1st pf (6)_. )% Paramnt 2d of 60c__ 312 Park & Tilford (2)_. 44 Park Utah 3R Parke Davis (b1) 2474 Parker Rust (f134). 734 Pathe Film Corp __. 144 Patino Mines(t60c). 3% Peerless Corp _____ 50's Penick & Ford(t3) .. 97 Penney JC) (4) 4% Penn Coal & Coke 7% Penn Dixie Cement. 22 Penn Gl Sd ct as0c_. %, Penn Railroad (a2)_ 4 Peoples Gas Chi 415 Peoria & Eastern 34 Pere Marquette ___. 21 Pet Milk (71) 174 Petr Corp Am a00c_. + 10% Preiffer Brew bé0c . 5-32 Pfeiff Brrts May 13 Ips Dodge b3sc . Phila Co 6% pf (3) - Phila Rap Tr (d) . 112 Phila Read C&1 (d) 70 Philip Morris(b3%) 1314 Phillips Jones ____. 49'% Phillips Petrol (2) 612 Phoenix Hosiery___ 16% Pierce Oil pf 2813 Pilisbury Flour 1. 60 13% Pittsburgh Coal ___ 60 Pittsburgh Coal pf_. 1314 Pitts Screw&B blbc. 243 Pitts Steel i 100 Pitts Steelpf. ___. 20'% Pitts Term Coal pf. 33 Pitts United . 31% Pitts & W Va 24Y% Plymouth Oi 2413 Poor & Co (B) - Postal Tel&C pf(d). 31k Pressed Steel Car 24 Press Stl Lst pf 250_ 6 Press Stl 2d pf 215 . 2 Proctor & Gam (12)_ 3 PubSve NJ (2.60) .. 111 Pub Sve E&G pf(5)- 58 Pullman Inc (1%)__ 19%; Pure Oil 99 Pure 0il 6% Df. 108 Pure Oll 8% pf 18% Purity Bak (60c’ 16 Quaker State (XOC)_ 10% Radio Corp 73% Radio pf A (3%)___ 7% Radio-Keith-Or (d). 31 Raybestos M (t1%) 9% Real Silk Hoslery._... 27 Reis (Robt) . _____. 18% Reliable Str (a50c). ermBansnnanaBiines o FRIDAY, APRIL ales— Add 00. High, uw Close. cht 18 10s 105 2 21322132 2132 Net 541 34 42V 120 14 [T T S ++ 105 105 16% 64 224 391, 2074 16% 16% 64 21% 3915 1001y 1272 98, 491 33%, 4914 14 32 n 32 14 '42 150 136 91 18 46 56 109 11% 43, 11% 573 167% 130% Westingh'se El (b1) 2414 Weston El Inst a8ic 22 Westvaco Chlor (1) 38 Wheeling Steel __. 2314 White Motor 15'; White Rk M S(1.40) 2 White Sewing Mach 5% White Sew Mch pf__ 412 Wilcox Oil & Gas _ 8% Wilson & Co (50c) - 79% Wilson & Co pf (6) . 513 Woolworth (2.40) 341; Worthington Pump. 81 6815 Wrigley W ir (13) .. 4915 Yale&Towne(160c). 20% Yellow Tr & Coach._. 40 Young Spr& W(t3). 75% Ygstn S&T (b76¢) - 31 Zenith Radio (bl)_... 6% Zonite Products__.. Prev 1037 High. Low. 135% 12814 Revere Cop pf b1%, . 30% 114 20% 2T 51% 98% 34 23% 45% 214 81y 11% 95% Sia 8415 86 475 2% 581y 393 445 1% 12% 35% 3814 100% 12314 118 231 831y 30% 16, 1937. 2:15 p.m. 8tock and Dividend Rate. 244 Revnolds Met (t1)_. 247 Reynolds Spr (1) _ 50% Reynolds Tob B (3). 24 Ritter Dental (1) .. 38Y Safeway Stores(t2) 97% Safeway Strs pt(5). 110 Safsway Strs pf(7). 43% St Joseph Ld(b50ec). 3 St L-San Fran (d)__ 6% St L-San Fr pf (d)._. 11 St L Southwn (d) 141% Savage Arm (al) __ 4212 Schenley Dist(b75¢) 94‘; Schenley pf (5%) ... Schulte R Strs (d) . 17 Schulte R S pf (d) .. 38 Scott Paper (1) 113 Seaboard Air L (d) - 6 Seaboard A L pf(d) « 40% Seaboard Oil (1) 7% Seagrave Corp ___ 81 Sears Roebuck (3)_. 28 Servel Inc (11) 4 29 Sharon St] (11.20)_. 102 Sharon Stl pf (5) 10% Sharpe & Dohme 17% 141 Shattuck F G (600) 34% 26% Shell Un Oil (aZGc) 105% 102 Shell Un Oil pf 6% 1214 Silver King (b25c¢ 44% Simmons Co (b50¢) .. 314 Simms Petrol 42 Skelly Ofl 5 98% Skelly Oil pf (6) _ 1 2 26 1 11 50s 700 20 - 110 833 Sloss-Sheflield st 100'- 4 Smith & Cor ctfs(1) 4 Snider Pkg (b1%2) .. %4 Socony-Vac (b25c) . South Am G & P 30¢c South Port Sug(t2) Cal Edison 111 Spalding (A G) alding 1st pf __. Spencer Kell (1.60)_ Sperry Corp vtc(al) Spicer Mfg (a3)_ Spicer pf A (3) _ Spiegel, Inc (1) uare D (B) b2 Stand Gas & El (d) - Stand G&E $4 pf(d) Stand G&E $7 pf(d) Stand Inv Corp and Oil NJ (+1) _ erling Prod 13.80_ i Stewart-Warn t50c. okely Bros (11) __ one & Web(a25e) Studebaker Corp. __ Sun Oil (t1) . Superheater Co (1) Superior Oil Superior Steel Sutherland P 11.60 Swift & Co (11.20) 2. Swift Intl Ltd (2) _ ymington ww bl0c nington xw bl0c Talcott (J) pf 123% - Tenn Corp (al5c) - 507 Texas Corp (2) _ Texas Corp rets Texas Gulf Prasc _ 38, Texas Gulf Sul (12) 13 Tex Pac C&O bllc 113 Texas P L T (allc)- 10% The Fair 10 Thermoid Co 23 Thomp'n Prod al 6% Thompson Starrett. 18% Tide Wat A O (60c). Timken Detroft +1__ Timken Roller B(3) 15% Transamerica t40c_ 167 Trans Wst Air a25c. 9 Tri-Contl (aslc) 813 Truax-Traer(b23ic)_ 4 20th Cent Fox b30c_ 20th Cent F pf(134). Twin Coach (al.40). Ulen & Co. £ Und-Ell-Fisher (3)_ Union Bag & P (2) . Union Carb (3.20) » Union Oil(Calif)1.20x Union Pacific (6) Utd Atrcraft(aioe) Utd Air Lines a20c_ Utd Biscuit (1.60) Utd Carbon (4) Utd Corp (a20c) . Utd Corp pf (3) Utd Drug (a7sc) Utd Dyewood (1) Utd Elec Coal Unit E1C rts May United Fruit (13)- Utd Gas Imp (1) Utd Paperboard U S & For'n Secur.. U S Freight (1) U S Gypsum (12) U S Hoffman S Indus Alcohol - Leather vte Leather(A)vtc_ Pipe & Fdry(3)_ S Realty & Imp .. U S Rubber U S Rubber 1st pr._ Smelting (b4) _ U Uh ]S bb u 139% U S Steel pf (7) 109 » U S Tobacco (15) Unit Stk Yds (30c Utd Stores (A) __ Utd Strpfal4.81% _ Univ Leaf Tob (3)- Util Pw&Lt (A)(d). Vadsco Sales Corp_. 48 Vadsco Sales C pf__ 28% Vanadium Corp ___ 39% Van Raalte(b62%c) 2 Vick Chemical (12)- Va-Car Chemical Va-Car Chem 6% Va El& Pw ot (8) - vabash (d) Wabash pf (B)(d) . Waldorf Sys(t1.20) Walgreen Co (2) Walker (H) (2). Walworth Co Ward Baking (A)_. Ward Baking (B)_ Warner Bros Pict__ Warner-Quinlan (d) Warren Bros (d) War'n Br cv pf (d) _ Warren Fdy&P(t1) 4 30% Waukesha Mot (1) Wesson O&S (150c) West Penn El pf(6) West Penn El pf(7) West Pa Pwr pf (7). 4« 87 Western Maryland_. 1712 Western Md 2d pf_. « 212 Western Pacific_ 5;. 1813 69 274 1% 69 Westn Un Tel (3)._. '« 46!5 Westingh'se A B(1) 1 142 1% 60s 10 108 90s 308 3 2 15 z Worth Pump pf(A) 290s 3 Sales— Add 00. High, Low. Close. chge. 808 135 24% 26 b1% 24% 39 102 110% 5514 3% 8% 16% 24y AT 965 100% 176 1044 663, 11214 133 24% 26 50% 244% 3915 102 110% 100% 172 39% 34 23% 19'%, 4 135 26 51% — 24% + 39% 102 110% 70y 47 1’{9‘ Net +2 24% — % - % FINANCIAL. STOCKS GO DOWN FRACTIONS T0 &2 Many Issues Close Near Lows Despile Some Late Support. Y% Y% Stock Averages 30 15 15 60 Indust Rails Util. Stks Unc 2 =1 703 704 121 634 5.3 68.7 128 Net change. Today, noon Prev. day... Month ago- 94.9 95.0 96.6 84.2 101.6 9238 99.3 458 458 475 370 49.5 318 435 73.4 302 43.4 55.7 175 8.7 239 169 146.9 153.9 184.3 157.7 51f 953 61.8 61.8 46.0 46.2 48.0 48.2 54.0 45.7 537 (Compiled by the Associated Press.) BY VICTOR EUBANK, Assoctated Press Financial Writer. NEW YORK, April 16.—Handi- capped by a sharp decline in world commodity prices, stock market leaders today retreated fractions to 2 or more points. Although a little support arrived for the list in the final hcur, many issues finished not far from their low levels of the day. Chilling speculative sentiment, espe- cially for staples, were rumors of | European peace move, with the pos sibility the powers might decide on an arms conference in the near fu Coppers were among the principel losers and steels lacked vigor. Several | electrical equipments, rails and spe- cialties improved on actual and pros- pective earnings. Volume was small throughout, al- though there was a pick-up on fourth~ hour selling Offerings dried up be= « | fore the finish. Transfers were ;A around 1,000,000 shares. ‘| General Motors took a turn for the better on signs this company’s Cana- dian labor difficulties may be nearing settlement. Chrysler maintained its balance fairly well Many traders, brokers said, were chary of extending commitments pend- ., | ing further Washington developments, especially transmission of the Presi- dents’s budget message to Congress. On the downside most of the se: sion were United States Steel, Bethle= hem, Republic, Anaconda, Kennecott, American Smelting, International Nickel, United States Rubber, Inter- national Harvest McKeesport Tin= plate, Boeing, Texas Corp., Seaboard % | Oil, Standard Oil of New Jersey, Du % | Pont, Phillips Petrcleum, Pennsyle vania, Great Northern, Pullman, | Loew’s and Container Corp. | Revere Copper dropped about 4 1. ‘ points at the worst on announcement — % | public offering would be made of un- | lssued shares. Homestake Mining yielded 9 or so Utilities did fairly well, holding fluctuations to minor fractions. Ahead were New York Central, Westinghouse, | General Electric. Baldwin Locomotive | and National Steel. American Chain pushed up more than 6 at one time In a restricted zone were Goodyear, Goodrich, Continental Oil, Standard Ol of California, American Telephone, North American and Electric Power & Light. NEW YORK COTTON 3 the Associated Press NEW YORK. April 16.—Cotton was weak today under general foreign and domestic liquidation, which was in- , | fluenced by declines in foreign cotton 15 | and most other commodities | Prices sold off to losses of more than $1 to $1.50 a bale. July eased from 113.38 to 13.13. It sold at the low in midafternoon, when the market was 23 to 33 net lower. Futures closed steads. High 1 L ++1 1 e b3 + 1 1 3 % 7| u | 20 to 3 Low 1313 30 lower. 13,05 middling New Orleans Prices. NEW ORLEANS. April 16 foreign markets unsettled cotton p! today and active options slipped off anoth 50_cents a bale The,drop cairied October in the n | crop division under 13 cent; pound % | for the first time in % |at 13, July “at | 1304 and January at 1 Better weather in ne % | the belt was a contributing factor on the | decline. Reports that mill activity was at a low ebb, as well as sales of cotton cloths, % | also had a bearish infuence Cottonseed ofl fut pened stead May, B.830: uly. 10.015: " Septemer. 10,0%: October. 9.80b. —1n | =1 = 1 urrk‘ 1: v all sections of 5| e | FISHMAN PLAN APPROVED NEW YORK, April 16 (#)—Stock= holders of M. H. Fishman, Inc.. have approved the issuance of $1,500.000 1 preferred stock in series and a crease in the common stock to 300.000 shares from 150,000. MONTREAL SILVER MONTREAL. April tures opened easier. :( 45.06: July. 44.95b; b—Bi +1 + 1% 16 ) to September, 44 350 WELLINGTON FUND A Living Trust Fund Available in units of $10.00 a month and up.” Single deposit $300.00 and up. PROSPECTUS SENT ON REQUEST. Wellington Foundation, Inc., William Canby Maer. Woodward Building tional 3717 certificates U. S. Govt. Municipal Corporate 29% 94y 94 4T% 21% Rem-Rand (160c) ... 80% Rem-R pf ww(43%)._ 5 Reo Motor Car. - 27% Republic Steel 120% 109 Republic pf (bl%) 110% 99 Republic pr pf A(6) 49% 331 Revere Copper R 5 Revere Copper(A).. 11:00 P.M. oo 1:00 P.M. o 117% 108 44y 90 larations not a Companies TEx dividend 90 ~8 Approximate Sales of Stocks on the N. Y. Stock Exchange. 280.000 -, 610,000 e 1ven 1n the above table are the annual cash paymEnts based on the Taisst GusTierls Or Balf-earis dee: 8 Unit of trading less than 100 including _ extras, reported -~ 470,000 . 790,000 tAnnuai rate— o paia this year. being reorganized shar aPaid last vear. n receivership or Revere Copper Plans to Offer Class A Stock By the Assoctated Press. NEW YORK, April 16—C. D. Dal- las, president of Revere Copper & Brass. Inc., announced today the com- pany has filed with the Securities and s Exchange Commission a regLstrnionl Dallas stated the arrangements do statement covering a proposed public | not affect American Smelting & Re- offering of class “A” stock. The sale is dependent upon a satis- factory underwriting agreement which will fix the price of the stock to the sellers and to the public. The offering will include 46,000 shares of unissued class “A” stock, 54,653 shares now owned by General Cable Corp. and 48,144 shares owned by American Smelting & Refining Co. L3 fining Co.’s holdings of preferred nnd conmon stock of the Revere Co. STEEL SCRAP LOWER. PITTSBURGH, April 16 (#).—Steel scrap prices dropped from $23.50 and $23.00 to $22.50 and $22.00 in this dis- trict in the last month, brokers said. Quoted prices yesterday were $22.00 to $22.50. ¥ STOCKS Listed Unlisted Bank Insurance i Robert C. Jones & Co. i Members Washington Stock Ezchange SHOREHAM BLDG. Metropolitan 2922 “Complete Investment Service” |