Evening Star Newspaper, April 30, 1937, Page 19

FINANCIAL .GURB LIST JOINS GENERAL UPTURN Gains of 1 to 6 Points Reg- Istered by Many Market Leaders. By the Associated Press. NEW YORK, April 30.—Further rallying tendencies gave a considerable lift to the general Curb list today. Traders aligned themselves on the buying side in early dealings, believing the recent selling movement had run its course. Aluminum Co. moved up more than 6 points during the first hour, and gains of 1 to 6 were made by Alum- * inum, Ltd; Dow Chemical, Ford Mo- tors of Canada “A” Wayne Pump, Youngstown Steel Door, Northern States Power “A,” Babcock & Wilcox and Gulf Oil. Pepperell Manufactur- ing jumped more than 7 on small dealings. - ALLEGHANY TITLE VALIDATION SEEN Wall Street Legal Circles Believe Control Assured by Court Action. By the Assoclated Press. NEW YORK, April 30.—Acceptance of the report of Cleveland Probate Court attorneys in the Van Sweringen- Midamerica Corp. case appeared to be tantamount to a validation of the title of sale in the transaction which “gave control of Alleghany Corp. to Robert R. Young, Frank F. Kolbe and Allan P. Kirby, opinions expressed in ‘Wall Street legal circles indicated. At the office of Young, Kolbe & Co. direct comment on the report was withheld, but a spokesman for Young said the attorneys’ findings were in accord with the purchasers’ views on the subject. The probate lawyers, in a report to the court, held the option to purchase control of Midamerica given to the late Van Sweringen brothers by George A. Ball and G. A. Tomlinson expired with the death of the brothers. Legal authorities here thought the qualification contained in the report of the Probate Court lawyers with re- spect to extension of the option meant that the Van Sweringen heirs would be obligated to clear up the $75,000,000 of Van Sweringen debt before winning the right to enter claims for fulfilment of the option terms. This was re- garded as unlikely. DOMESTIC High. Low 102 0 & 4 Firest Co oL & 3s2ugt Florida P & GaryE& G 5 Gatineau Pw Gatineau Pw Gen Bronze Gen Pb Ut Georgia Pw 108% 107 s 10dn s a512 se Indurn Ser Interst Pw Interst Pw Interst P S Interst P S 4'as By private wire direct to the Star. All time shown below is daylight saving on which t [ Stock and 8— Dividend Rate. Add 00. Acme W vto (3).. 508 Agfa Ansco . 8 Alr Investors Inc. 1 Afr Inv Inc war _ 2 Ala Grt Souv (t3).. 50s Alles Fisher - 1 Alum’'n Co of Am 12600185 Alum (Am) pf (6) 600¢ 114 Aluminum Ltd 2508 114 Alm Ltd o pf b1 1 128} Am Afrlines. Ine 3 Am Box B'od (1) 2 Am Cit P&L (A) 8 508 AmCP&L Aww2¥% 1 Am CitP&L Baloc 1 Am Cynam B t60c 30 Am & For Pw ww. Am G&B (1.40) Am G&E pt (6) Am Gen C'p (a50c) Am Gen Cptf (2) 60s Am Hard Rub(al) b0s Am Laun'y M 80c. 1 Am L&T (11.20). 2 Am Mfg Co (a3)..175s Am Maracaibo _ 27 Am Pneu Service._ Am Superpower Am Superpw 1st 6 Anchor Post ' _ Angostura (t20¢). Apex Electric(al) Arcturus Radio T. Ark Nat Gas__ Ark Nat Gas (A)._. Art Met W (80¢).. Ashland O&R 140¢ ASSOG & E (A) Ass0 G & B $5 nf Atl Coast Fis b35o Atlas Corp war Atlas Plyw'd(1%} Austin Silver Auto Products. Auto Vot Mch S0c¢ Avery(BF) & Son Axton-Fisher (A) 1508 Babcox & W1l (4). 26s Baldw L bd rts(d) 8 Bardstown Dist__. 2 Barium Statn Stl 7 Barlow&S(A)1.20 1008 Bell Afreraft 2 Bell Tell Pa pt SV. 108 Bellanca Alreraft. 1 Benson & Hedges. 1 Berkey&Gay F Co. 14 Berk&GF pur war & BickfordsInc1.20 38 Bickfords pf(2%5). 26s Blisa Co (E W) 6 Blue Ridge (bl5c) 18 Blumenthal 8 > 4 Bower Roll B (2). 4 Bowmn-Bilt 1st pf 60s Brazi) TL&P 40c 3 Brid'p't Mch b26e. 8 Brill Corp (A). 2 Brill Corp (B) 2 Brill Corp pt Brillo Mfg A (2)__ 20s Brown Co pt 8508 Bunker H & S(b1) 100s Burco Inc (a50¢) High. Low. Close. a @ 28 34 % 8 34 181 us 13 . [T P R L PO - Ory ey Carnegie Metal Carrter Corp - Carter (JW) 80c.. Catlin Corp (a40c) Cen Hud G&E 80c Cent P& Lt 7% pt (b3.06% ) ___ Cent &S W Ut1l__ Cent States Elec Cent St Elcv pf__ Cent St Kl 6% pf Centrif Pipe *40c Chi Rivet & Mach. Chiet Consol Cltles Service ___ | Cities Service pf “|Cittes Svept B __ | Cities Sve pf (BB) City & Sub H 30¢c City Auto S(160c) Claude Neon Lts_. | Clev Tractor | Club Aluminum_ | Colon Dev Lta Colon Dev 6% pt. Colo Fuel&Ir war | Colts PFA b3734¢ Colum G& ks ot () Columb O&G b20c Comn with & S war Com'u’ty P&L 18t | Community W s__ | Cons atrcrart | Consol Biscult 60¢ | Consol Copper C GELt&P Bo 3.60 Consol Gas Util Cons Gas Util [ Soos Minasm 12 1600 Consol Ret § pufi) 108 | Consol Steet Coro. 5 Cont’l G&E pr pf 71258 Contl Oil (Mex) _ 1 | Cont'l Roll & S Fy Cooper Bessemer_ | Copper Range | Cord Corp Cosden Oil Me Creole Pe- (a50c). 2 Crocker-Wh aloc. Croft Brewing Crown Cent P age. Crown Dr (b20c) . Cust Mex Mining.- Darby Petr (60c).. Dayton Rubber._. Det Stl Prod b25c. Domin S&C (K, Dow Chemical (3). Driver Harris 135 | Dubelier Condens | Duro Test (b10c) - 2 2 3 7 2 4 4 1 5 5 7 2 3 . 2 2 1 2 1 3 1 1 1 . | Duval Tex 8aivc 1 2 | Estn G&F As pf 3 2508 hila Rap T 6s itts Sieel 65 Botomac E 418 P“E »?f 1003 10014 8 fi S 5 -14 god gnll 1N Hg 14 1063 ork RWY 88 ¢ Bk Ge 201 & Mahr in* A%y 100 a cubun e 2 e City 6las 5Y2s ima ussian anta ‘erni-Soc NEW YORK BAR SI—LVER‘ NEW YORK, April 30 (#).—Bar sil- ver easy, off U, at 45. & Eag Pit Lead bl0c. 15 | East Mall Ira1.30 z6s East'n States Pwr 10 Easy W M(B)b2sc 38 Eisler Elec (abc). 2 Blec Bond & Share 129 ElecB&Spt(5). 3 KlecB&Spf (6) 1 Elec P&L opt war. 2 Electrol Inc v.t.e.. 1 Emp G&F 1% vt 508 Emp Pwr pt b30c_ 100 Equity Corpazoc, 8 Evans Wall Lead 20 Bxcello Air(b20c) Kairchild Av alse Falstaff Br (31%) Fanny Farm C(1) ¢ | Fedders Mfg b25c | Ferro nam b7sc.. Eidelio Brewery First NS 1stpf 7. Fisk Rubber Ford Litd a181-10c ¥ord (Can) A (1) Ford M(Can)B(1) Franklin Ray a60c Froedt G&M (20c) 1 Froedt't cv pf 1.20 100¢ Gen Alloys 2 (3en Invest Corp 6 Gen Teleph (b25e) 1 Gen lire & Kuu 4 Georgia Pw pf (6) T5a Gilbe't(AC)ab2l5e 2 Glen AldenC t11) 4 Godchaux 8 A b2_ 200s Godchaus Sug(B) 6 Gorham M vto t1 Grana Natl Films | Grand Rap Var (1) Gray Tel P8l 1 Grt A&PTnv 16 80 Grt A&PT 18t pf 71768 Great Nor Pap t1_ 50¢ Greentiela T & D 4 Groc Store Prod _ 1 Guardian Invest . 1 Gulf O1l (Pa) b2be 23 Harvard Brewery 1 Hazeltine (b75¢)_. 2 Hearn DepSbl1.65 & Hecla Mining b45c 10 Hollinger 765¢) 4 Horn & Hardart t2100s Hudson BM&S (1) 29 Humble Ol (1%). & Huyler's(Del)(d). 1 tHygrade Food . 1 U1 P&L6% DI 608 11) Pwr & L1 §6 pr 4008 Illinois ZIne ____ 1008 1mp V11 Ltd 6 n Imp Ofl reg (t50c) 1 Imp To Can b32l4c 1 Ind Pipe Line b30c 2 Ind'ap P&L f 6% 20s Indus Fip vte 1 Ins Coof No A t2 160s Int] Hold&Inv Ltd 2 IntlHy E18cvpt 12 68 1 8 1 | Pines Wintfrt(n) . | Pub s Colo pf (6) | Selby Shoe (1.60) Selected indus | Sel Ind all cts 6% 4505 % | Transwest O1l Co_ THE EVENING 2:30 Stockand Sales— Dividend Rate. Add 00. Intl Petrolm t1%_ 12 Intl Products 1 IntiUtL (B) _ 8 Int) Vitamin(50¢) 1 Interst P(Del)pt 20s Inv Royalty (t6c) 2 Iron Fire vto 1.20 1508 Irving AirCh (1) 2 TtalSup'pwdrts. 1 Jacobs(FL)Cor1) Jer Cent P&L pf 7 Jones&Laugh Stl Kingston Prod 400 Kirby Petrol (20c) Kirkland L G (6c) Lack RR (NJ) (4) Lake Sh M (14) Lakey Fy & Mach Leh Coal &N 30c._. Leonard O11 Lion O11 Ref (1) Locke St1 Ch t30c. Lockheed Afrcraft Lone Star Gas 8¢c Long island Ltg . Long I L pf A(T) Long Isl Lt pf B 6 Loudon Packing_.. La Land (40c) Lynch Corp (12)_. McCord Rad (B) _. McWilllams D (3 Majestic Ra&Tel. Mangel Stores __ Marjon Steam Sh Util Associa y Harris Master Elec (1) Mead Johnson(+3) Mem Nat G (b10c) Merritt Chap & 8 Mich Bumper C_ Mesab [ron Mich Gas & Of1. Mich Sugar . _ Mid Sta Pet (A)__ Midwest Oil (1) _ Mining Co (Can) . Mock Judson 60c_. Molvbdenum Corp Montr HLt&P 13 Moore Distillery Mount Prod «60c) Murray (Ohlo)b30¢ Nat Auto (b1) _ Nat Bella Hess _ Nat Bd&Sh (b50c) 160m Nat Container____ Nat Fuel Gas (1) Nat Leather & Nat Rub Mch a200 Nat Service Nat Service pf Nat Sugar NJ (l) Nat Transit (75¢c). Nat Unfon Radio Navarro Ofl (40c). Nehi Corp N EngPw As pf(6) 60s New Hav Cl (1%) 3 New Jer Zing (t2) 250s Newmont Min b76, 8 New Process (12) 1 N Y Tel of (6%) Niag Hud Pwr new 10 Niag H P(A) war 1 Niag Sh Md B a60e Nipissing (50c) Noma Elec (b40c) North Am L & P North AmL&P pf 50s No Am Ray A b50c No Am Ray B b50c North Am Ut Sec North'n Europ Ol No IPS 6% pf b75¢ 20s NInd PS pf b871zc 208 1 3 ‘ . i 1 2 2 | Norih States P A 1 Ohio Ofl cu pf (6) 1 Okla Nat G pf(6). 508 Uldetyme Distil f Pac G&E 1st (1%) ! Pacific Ltg pf (6) 100s Pac Tin spec (12) 500e Pan-Am Afr (t1)_ 1 Pantepec O11 23 Pender G (A)33; 1508 Pender Gr(B)a50e 2 Pennroad (az5c) 7 Penn G&E (A)1% 1 Penna P& L pf(6) 30a Penna P&L pf (7) 80s Penna Salt (b13%) 50s Penn Wat & P (4) 2 Pepperell Mfg +6 1508 Perfect Circle 12 400s Phoenix Secur 22 Phoenix 8 pf A(3) 1 Pierce Gov (blsc) « Pion'r G Ltd b30c. 6 1 Pitney Bow(t40c) & Pittsbgh Forging Pitts & LE b2% Pitts Plate G (b1) Powdrell&Al T6Uc Premter Gold t120 Producers Corp _ Propper-McC (d) 110 2 . 6 2 1 2 208 Pub Svo Ina pt 208 Pub Sve Ind pr pt 10s Pus Sd P&L pf b5 1258 Pug Sd P&1 36 o 26» | Pyrene Mfgas0c. 1 Rainbow Lum (A) 2 Rainbow Lum (B) 1 Raym’'d Conc (t1) 1508 Raytheon Mfg vic Red Bank & Reeves (Dan) 50c. lielter-Foster Reybarn Co bl0c_. Reynolds lnvest Richm'd Radiator. Roosevelt Field _. Root Petroim(1)_ NEW YORK CURB MARKET High. Low. Close. 86 1 2% 3] 13 1 303 1160811134 123§ 3% 123 235 834 3% 83 4“ 2y 2% % 82 89 26 1103 99 Royal Type b75c_ llEUIIOB Rustless r&Stl t] Ryan Consolld'd . 21 Saf Car H&Lt b1 250 St Rexis Paper 13 St Regts Paper pf 25a Savoy o1l 1 | Scovill Mg (bb0c)60vs | Sexal Lock & H 1 eiberling Rubber 5 50s in Sel [nd pr pf (5% )350s Seton Leath ablc. 1 Seversky Atrcraft & Shattuck Den Min 40 Sherwin Will (4). 1008 Simmens Hd & P 1 Singer Mfg (16) 208 Solar Mfg (b10c)_ 1 Souctone C (alve) 2 SoCalEdpfC1% 3 South'n P L b20c Southn Unton Gas Southl'd Roy Rl0c. Spanish & Gen (B) Spencer Ch 8 b75c Stand Cap & S 1.60 100 Stand C S pf 1.60 Stand Oi1 Ky (1) Stand Oil Ohio 1. Stand Pwr & Lt Stand P & L (B) Stand Prod (b25¢) Stand S11&Ld (4c) Starrett Corp vic Sterchi Bros 1st 3 Sterchi B 2d b25c Sterl Alum (b25c¢) Sterling, incizue) Stuts Motor - Sunray Oil (bbc) . Sunshine Min (3) Superior Port CB Laggart Corp .. Tampa El (2.24) Tastyeast(Del)A_ Taylor Dist (30c). Technicolor Tech Hughe: Texon Ofl & L. 500 Thew Shovel as0c Tob Prod Exp 16c Todd Shipyd (12). Tonopah Beimont Tonopah M (aée). I'r Lux DPS t20c. 1 1 6 6 2 0 1 2 23 s& P L T L I L I P P PR - T T I'ri-Contl C war _ Tubize Chatillion Tung-Sel L of 80c Unexcelled Mfg .. Unit Chemical . United Corp war._. Unit Gas Corp - Utd Gas war . __ Unit Lt & Pw (A) Unit Lt & Pw pf . Unit Sbipyds B Unit 8 Mch pf1.50 U8 Foll (B) (1) .. U S Lines of = U 8 Rub laim_ Unit Stores vte __ Unit Verde Ex (1) Unit Wall Paper _ Univ Corp’n v.t. Univ Cons Ofl( Utilities P& L (4) U1 P& L of (4) 1008 Utllity Eq pf b4% 76s 143 6 138 ’ 3% 8434 1 2% 2] 1234 % 20% 18% % 1635 964 10434 6% L] 13 7034 9% 6% 8% pee] 2234 101% | 100 9% L) 163 | | pared with $1,881.705, | share in March quarter last year. | Morgan, «| J. Fisher STAR, WASHINGTO UNITED GAS NETS $1,071.873 PROFIT Quarter’s Total Compares With $7,003,144 for Same 1936 Period. By the Associated Press. NEW YORK, April 30.—United Gas Improvement Co., utility holding com- pany, with headquarters at Philadel- phia and operating properties in vari- ous States, East and West, reported for three months ended March 31 net income of $7,071,873, equal after divi- dend on preferred stock to 25 cents & share on the common stock. This compared with $7,003,144, or 25 cents a share on common, for the March quarter last year. For the 12 months ended March 31 net income was $28,022,486, or $1 a| common share. For the preceding 12 months the balance for the common | also equalled $1 a share. Archer-Daniels, Archer-Daniels-Midland Co. report- ed for nine months ended March 31 = | o net profit of $1850,541, equal after | JFMAMJIJASOND JFMAMJIJASONDJFMAMJJASOND JFMAMJJASOND JFMAMJ JA SOND 1934 | || Letters Above Are Initials of Months: J for Janua: nine months ended | preferred dividend requirements to $3.07 a share on common stock. This compared with $1,220,816, or $1.92 a share, for the March 31, 1936, National Steel Corp. The National Steel Corp. reported net income, after all charges except the Federal surtax on undistributed profits, of $5695,819.24 for the quar- ter ending March 31, 1937. equal to $2.63 a share on 2,163,277 shares of capital stock outstanding, and represents the highest net income for any three-month period in the history of the corporation, the report said. Net profit for the corresponding pe- riod of 1936 was $2,377,144.69, equal to $1.10 a share on 2,156,977 shares then outstanding. Electric Autolite. The Electric Autolite Co. and its subsidiaries reported net earnings of $1,149,629, or 96.1 cents a share, on its 1,196,229 shares of common stock for the first quarter of 1937. This represents a gain of 48 per cent over $774,179 earned in the corresponding period last year. Calumet & Hecla. Calumet & Hecla Consolidated Mining Co. reported for the first quar- ter consolidated net income of $781,862 after estimated Federal taxes, equal to 39 cents a share on 2,005,502 common shares. before provision” for Pederal taxes in the corresponding period of 1936. Mines are in Michigan and headquar- ters in Boston Commonwealth Edison. Commonwealth Edison Co., serving the Chicago district, reported for the | March quarter net income of $4,471,~ 480, after $249,788 Federal surtax, equal to $2.77 a common share. This compares with adjusted net income of $3.040,744, or $1.89, in the like 1936 period. Auburn Automobile. Auburn Automobile Co., of Auburn, Ind., February 28, the first quarter of its fiscal year, consolidated net loss of | $392.584, against net loss of $703,564 in first quarter of previous year. Net | sales were $1,563,655, against $1,414,- 837, Seaboard Oil. Seaboard Oil Co. and subsidiaries, | 34 | With properties in California and other leading fields, reported March quarter net profit of $591,365, equal | to 47 cents a share on capital stock. This compared with $612.126, or 49 cents a share in March quarter last | year. Consolidated Gas. Consolidated Gas. Electric Light L Power Co. of Baltimore reported March quarter net income of $1,855,- 823. equal after preferred dividends to $135 a common share. This com- or $137 a Butte Copper & Zinc. Butte Copper & Zinc Co. reported for the March quarter net income of $29,193 before depletion.and the Fed- eral undistributed profits tax against | a net loss of $3,505 in the like 1936 | period. | SPERRY WILL ACQUIRE VICKERS OF DETROIT ; BY the Associated Press NEW YORK, April 30.—Thomas A | president of Sperry Corp. announced today the company has arranged to acquire Vickers, Inc., of Detroit, from its present owners, Fred | and Harry F. Vickers, through exchange of stock of the | two companies. The transaction will involve 66454 | shares of Sperry, worth roundly $1,- 200,000. Vickers, Inc, makes and sells hydraulic pumps, valves and transmissions used by automotive manufacturers. Sperry's subsidiaries make aeroplane and steamship navi- gational equipment, much of which is used by the Army and Navy. The acquisition of Vickers gives Sperry a wider operation in the com- mercial fleld. — e CURTIS ARREARS CUT NEW YORK, April 30 (#)—Curtis Publishing Co. of Philadelphia de- clared a dividend of $1.75 on the 7 | per cent cumulative preferred stock' This on account of accumulations. reduces arrears to $7.75 & share. The dividend is payable July 1 to stock of record May 29. SERVEL ISSUE CALLED. NEW YORK, April 30 (A.—Servel, Inc, has called for redemption July 1 at 105 and accrued interest $500,000 in first mortgage 5 per cent bonds, due in 1948, Btock an Dividend mu Add 00. Bl[h Low. Olou Utilities [ndust’l_ 1 Valspar vtc z Venezuela Mex O Venezuela Petrol Wagner Bak b40c 1 T ® BT e T AN O O S Weisbaum B B 40¢ Wntwth Mfg blsc Westn A E (a2bc) Western Auto Sup Wil-low Cafeteria Wil-low Cafe pt Willson Prod (t1) Wolver Tube b20c Woodley Pet t40c_ Wrizht Harg t40c Ygstn Steel Db1% Yukon Gold(al3c,) 16 Dividend rates in doliars based on Iast quarterly or semi-annual payment tAn- rate—not including extras $Ac- sPaid st vesr fl I'll“;l{n wmfi"‘ the ban m ties assumed by such com- 4 This was | This compares with $146,555 | reported for three months ended ! D. C. FRIDAY, APRIL 30, 1837 Amounted to $6.87 per Share in 1933. Stock Sold Between 2,02 and 1585 Times Earnings Jith! IIIIII'JIIIIII in 1934, 1933 P il Sold Between 11.57 and 16.89 Stock T $835 per Share Amounted to $10.32 per Share; in 1936. Stock Sold Between 7.00 and 10.05 How the Price of U. S. Smelting, Refin- ing & Mining Company Stock Has Fluctuated During the Last Four Years Prices of 1. S. Smelting, Refining & Mining Stock, 19331937 IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII nn.!III“IIIIIIIIIIIIIIIIIIIIIIII ] ‘In 1929 Earnings Amounted t0$3.56 per Share. Stock Sold Between 8.39 and 2047 Times Earnings Times Earnings 1935 , F for Februar " 1936 1937 oo 1 By T o o, £ & NEW YORK STORE SALES LAG BEHIND 1936 MARK | By the Associated Press. NEW YORK, April 30.— Sales of reporting department stores in New York metropolitan area in first half of April were 1.7 per cent lower than in same period last year, the Federal Reserve Bank reported in its monthly review of credit and business condi- | tions. | _Even after adjustment for the early Easter this year and for the usual seasonal fluctuations, the rate of sales appeared to have been lower in April than in March, said the report. ‘Total March sales of reporting de- partment stores in the district were | 13.4 per cent higher than last year, with the daily increase at 92 per cent | because of one more shopping day than last year, THE WEATHER District of Columbia—Fair tonight | and tomorrow; little change in tem- | perature; moderate winds, mostly | easterly. Maryland—Fair tonight and tomor- row; continued cool. Virginia—Generally fair and con- tinued cool tonight; tomorrow partly southwest portion. West Virginia—Mostly cloudy to- | night and tomorrow; not much change in temperature. River Report. Potomac and Shenandoah Rivers | very muddy today. Report for Last 24 Hours. Temperature. Barometer Degrees. Inches. i 30.07 30 3027 Yesterday— i pm 30.36 3041 30.42 Record for Last 24 Hours. (From noon yesterday to noon todsy.) Highest. #6. at 2:15 pm. yesterday Year ago. & at 530 am Lowest, 4. g0, 60 today. Year Record Temperatures This Year. Highest, 43, on_April 18 Lowest, 14. on Februaty 28. Humidity for Last 24 Hours. (Prom noon vesterday to noon today ) Highest, 82 per cent, at 530 am. Lowest. 25 per cent.’ at noon. Tide Tables. (Furnished by the United States Coast and Geodetic Survey.) High _ Low _ High _ Low = Tomorrow 11:34 am ‘ Sun, M p.m a “Automobile ights must be turned” on one-naif hour after sunset. Precipitation. Monthly precipitation in inches in the Capital (current month to date): Month, Av | ganuary a February March April May June Rcust Sen!.amber [igsianergee December Weather in Various Cillul Baro W oWl Weatn Ab; . Cloudy | 7 0148 Clear Slotay Atlantic Clear Baltimore, o Charleston Chicago. TIL Cincinnati, Ohio Cleveland, Ohio Columbia_ 8. C. | Denver. Colo Detroit | Galveston | Helena, Mont Huron.” S Indianapolis Jacksonville.Fla. Kansas City | Los Angeles Louisville. Ky Miami Fla Minneapolic New Orleans New York om ERiladeiphin Phoenix. Ariz. Bittsburgh.” Pa. Me | Clear Cloudy Clear Clear Cloudy Salt Lake Citv San Antonio ! San Diego. Cal San_ Francisco St. Louis, Mo, Seattle. FOREIGN. (7 a.m.. Greenwich time. today ) Aatiol ‘Temperature. Weather. g:nann 'finmnd : 44 Bivteh. T Swiserland Stockholm. Sweden - Cle Gibraltar. ' 8pain 54 Cloudy (Neon. Greenwich time, today J Horts (Faval). Azores Cloudy P rent ooservations.t Geor| uda 88 Berm i T pierto. Rico Havans, Cuba Colon, Canal Zone ______ FOREIGN MARKETS. LONDON. April 30 (®).—Stock prices were distinctly firmer at the close of the [ERrkey today with miniog, meial and off issues recovering sharply from the low devels . Industrinls and trans-Atlantic securities were in good demand and to- bacco issues sold higher. German bonds and government shares closed about un- chanced from Thursday's final quotations. PARIS.—Practically all sections of the Bourse finished with a firm tone, rentes being unchanged to 50 centimes higher. Banking shares moved upward, the Bank of France issue gaining 250 francs, while Royal Dutch advanced 115 francs and Suez Canal 255 PHILADELPHIA PRODUCE. cloudy, probably showers in extreme | 9 | Auto Production Rises to 139,475 Level for Week By the Associated Press. DETROIT, April 30—Cram’'s Re- ports, Inc., today estimated aulumo-’ bile production for the current week at 139,475 cars and trucks, compared with 133,164 units last week and 118- | 764 assemblies during the week ende | May 2, 1936 | It placed General Motors output at | 55455, compared with 52995 last | week; Ford at 35875, compared with 34,850, and Chrysler at 31,000, com- pared with 28,500. Ward's Automotive Reports esti- mated this week's production at 141.- 485 cars and trucks, compared with | 139,090 last week and 117,150 for the | week ended May 2 last year. CHICAGO GRAIN | Bs the Associated Press CHICAGO, April 30.—Highest prices | today for wheat were reached in the | late dealings, at 3'; cents a bushel | maximum overnight gain. Reports that Kansas wheat crop prospects have been diminishing rap- | idly were at hand, with assertions that | unless relieved by rain in the coming | two weeks serious further losses are | threatened. It was authoritatively stated that, whereas a fortnight ago | Kansas wheat production promised | 200,000,000 bushels, the best estimate now is around 150,000,000 bushels, and the total could easily deteriorate to 100,000,000 bushels in the next two weeks. At the close wheat was 3 to 3! cents | above yesterdnys finish (Ma; 13 and oats showing iy WHEAT— Open BELLIES May 5 & | July Chicago Cash mrket Cash wheat, No. 1, hard, 1.35; corn, No. 3, mixed, 1.35: No. 2, yenau 1.38%2 | No. 3, yellow, 1.35-35%; No. 3 \shl(e 1.37; oats, No. 1, wh)t! 5614-12: No. 2, white, 553-12: No. 3. white, 55: no rye: soy beans. No. 3. yellow, 1.71%- 72; barley feed, 75-90 nom.: malting, 1.00-30 nom.: timothy seed. 4.25-50 | hundredweight: clover seed, 26.00-32.00 | hundredweight. Winniper Prices. WINNIPEG. Avril 30 (P —Grain today Wheat— range Close. Prev 1 1 % 1.0 y 1 October 1 Oats— May B58% 56% _|S. E. C. ISSUES REPORT ON MEMBER TRADING By the Associated Press. The Securities Commission an- nounced today that members of the| | New York Stock Exchange, trading | | for their own accounts, transacted 2045 per cent of the transfers on the | | exchange in the week ended April 3. | | The member transactions included | | 656 per cent in deals initiated on | the floor of the exchange, 4.74 off the " | floor and 9.15 per cent with special- | ists. { Trading of members for their own v | ccounts on the New York Curb Ex- | change totaled 17.46 per cent of all | | transactions. INSURANCE STOCKS NEW YORK. April 30 (#.—New York Security Dealers' Association Bl Asked. 2 Aetna Cas (2a) .. Aetna Ins (1.60)" Aetna Life (.80a) DS WEESS TS 23T F3 Reinsur (2) i (1.60) 5 RIS 19T e Natl Liberty (.20 N Hampshire (1. 50> N Y Fire (808)_ __ Nor River (1) Phoenix (2a) ey BB B snizic, Pt U {3 i, Westonester (1.208) b2 a—Also extra or extra: 3—Declared or xmd %o far this year. PHILADELPHIA. _April 30 _(.—Live poultry, fowl, me Roc fancy, young toms, Bressed poul RUBBER FUTUBES. ude rub- Tb 6565 | y 40-84: July, ptember. 20.70-75. A ilm““?lx A;Igll . INVESTING COMPANIES NEW YORK. April 7 (). —New York Security Dealers’ Association (Noon quotations ) Bid Admin Fd 2nd Inc 17.94 Am Business Shrs Am Gen Eq Inc Am Ins Btocks Bancamer Hlair Bank Group Shrs Bankers Nat Inv Corp Basic Industry Broad St Inv 10.00 1.79 Corp Tr Acc Mod umulative Tr h Depos Bk Sh N Y “A’ Depos Ins_Shrs Depos Ins Shrs “B versified Tr C Dividend_Shrs e nd Inc Boston Corp F Gen Investors Tr = Group Sec Agriculture Group Sec Automobile Group Sec Building Sec Chemical Sec Food Sec Invest Shrs Sec Merchandise Sec Mining Sec Petroleum Sec R R Eaulp p Sec Steel Sec Tobacco To Purchase or Refinanct Your Savings Here Insuranc ILDING ISSOGIITIBI COLUMBIA BU 716 11th Street [QUESUONS THAT ARE 7 &W _ |Grain and FREIGHT LOADINGS AT 761,182 MARK Slight Week’s Gain Lifts Total 14.3 Per Cent Above Year Ago. NEW YORK April 30.—The Asso- ciated Press seasonally adjusted weskly index of freight carloadings. based on 1929-30 dvanced today to ). compared with the previous week ard 60.6 & year ago Range of recent years: 1937. 1936, 198 845 711 20 807 580 By the Associated Pres: The Association of American Rail- roads reported today 761,182 cars of revenue freight were loaded during the week ended last Saturday. This was an increase of 9,854 cars, |or 1.3 per cent, compared with the | preceding week; an increase of 95,233, or 14.3 per cent, compared with a year | ago, and an increase of 202,246, or 36.2 | per cent, compared with two years ago. The report classified the loadings a: follows: 1934 595 19; High_. Low 47.7 Year azo Miscell'eous ~44.061 Less than car lot 8,021 i = 4603 products. West. dist Live stosk West. dist Forest prod. ore Coke 10,054 SHORT-TERM SECURITIES (Reported by Ohas. D. Barney & Co ) Amer T & T 545 Auburn_Auto Co | Gen Pub sve 515 19: | Grand Rap s 1hd 315 1941 | Houston Ofl 5135 1940 Intl_Mer Marine 85 Int Tel & Tel 41as 1 Gas Light € Valley Coal #s 193% Valley Tr R 55 1941 ks Pac BOR of Mo 4s 1948 Penn-Dixie’ Cement s 1041 FOREIGN EXCHANGES. 10, P Torelgn, ex- dollars 1 1 otk "100.187, Money for Construction Loans and Loans on Existing Properties 5% FIRST DEED OF TRUST ONLY GEORGEI. BORGER 643 Indiana Ave. N.W. Nat’l 0350 Interest as Low as 3% Easy Monthly Pay- ments 88 10¥ 0"'; s180 per $1.0 Are Protecud by Federa! e up to $5,00 Opposite Polais Roval ASKED ABOUT BAN(ING] 77 W‘? THIS question has been asked by some people who desire of our money system aclearer understanding in this country. Banks do not coin money. Money is coined by the Federal government mints under au- thority given to Congress by Section 8 of the Constitution which says: “The Congress shall have power to coin money and regulate the value thereof.™ The banks of the country (except the 12 Federal Reserve Banks) do not issue currency. This function is exercised by the Treasury of the United States. The 12 Pederal Reserve Banks issue Federal Reserve Notes. National banks formertly issued National Bank Notes but that authority was terminated by an Act of Congress. This bank is glad to answer further ques- tions about our American monetary system. McLachlen Banking Corporation Since 1891 TENTH AND G STREETS, N. W. S.W. Branch, 12th and Maryland Ave. SW. Member Federal Deposit Insurance Corporation (Booklets covering this series map be Aad upon est.)