Evening Star Newspaper, May 7, 1937, Page 16

FINANCIAL, THE EVENING STAR, WASHINGTON D C FRIDAY MAY .7 1937, A—16 xx% BANK DELEGATES OPEN CONCLAVE FINANCIAL. TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE SIO0SRREGULIR SR i ATEND OF SESSION Prev. 1937 High. Low. 37 1007 561 4T% 26% 108% 818 Bales— Add 00. High. Low. Close. :hlo‘ 1 31% 31% 31% + % k(3 -1 48 + % 41% 4 20% 103% 66% Prev, 1937 Btock snd 03— Net High, Low. Dividend Rate, Afld 00. High, Low, COlose. chge. 48% 38 Midld Stl Proa(t2)._ 3 40% 40 40 1 122 115% Midld Stl 1st pf(8)_ 20s 117% 117 117 106 100% Milw ER & I pf(6)_ 99% 99% 120 100 Minn-Hon Ros (2) 105 106 —1% 16% 11 Minn Moline Pow_ 13% 13% + % 8814 Minn Moline Pw pf_ 93 % +1% Prev 1937 Bizh Low. 17% A% 60% Stock and Dividend Rate. 12% Shattuck F G (60¢). Sales— Add 60, Hish. Low. Close. enae. 5 144 14 14 — % 314 Simms Petrol _ ._. 4 3% 3% 3% - 42 Skelly Ol (b50c)_ 8 5% BRW 8% 414 102% 98% Skelly Ol pf (6) __. 1 9815 9815 9515 197 854 Sloss-Sheffleld StI__ 20» 161 161 161 120 103% Sloss-Sheff pf (6)__ 100s 101 101 101 40 27}; Smith & Cor ctfs(1) 34 tar. All New York markets are now on daylight saving time, Dividend Rate. Prev. 1937 Stock and Bales— Net 2915 Cream of Wheat(2). High Low. Dividend Rate. Add 00. High. Low. Close. chge. 70% Crown Cork & S(2) 8415 63% Acme Steel (4) 1 80 80 + % 474 Crn C&S pf ww 2% _ % 15 Adams Exp (abbc).. 14 18 + % 41 CrnC&Spfxw2%_. 3014 Addressog’ph b60c_. 17 Crown Zeller(new) . 6815 Alr Reduction (t1)_ 99 Crown Zell cu pf(5). 2% Air-Way Electric 51 Crucible Steel 75'A 48 - -1% 36 S +1 - % —ou 13 Safe Deposit Leaders Hear Address of Welcome by Townsend. BY EDWARD C. STONE. Capt. Patrick J. Townsend, Assistant Engineer Commissioner of the Dis- trict, gave the address of welcome to more than 300 delegates attending the convention of the National Safe De- posit Association, at the Willard Hotel this moming. It was the first general session of the three-day meeting. Com- missioner Melvin C. Hazen, scheduled to speak, was detained at his office. Rev. James Shera Montgomery, chaplain of the United States Senate, offered prayer and special greetings were presented by Richard E. Harris, general convention chairman. The day's program covered many problems vital to all banks, the registered dele- gates from out of town being the Jargest who have ever attended one of these conclaves. Yesterday's session was given over to an important meeting of the Ad- visory Council, with F. Travis Coxe, Philadelphia, president, in the chair. President Coxe was re-elected to gerve as head of the council next year. Ralph D. Slaymaker, Kansas City, vice president, and Kenneth W. Mur- ray, New Haven, secretary and treasurcz, were also re-elected. Im- portant reports were presented, and the Richmond Safe Deposit Associa- tion was admitted to membership in the council, Council Members Elected. Four members of the Executive Committee of the National Council were re-elected: F. F. Wadsworth, Boston; Carroll Brown, Minneapolis; Gardner Turrill, Los Angeles, and Carl W. Johnson, Kenofha, Wis. Two new members were also elected: John W. Williams, Chicago, and Richard E. Harris of Washington. At the forenoon session tod: Chairman Coxe conducted a sym- posium on the real work and aims of the association. Stephen F. Wads- worth, Boston, spoke on “What Is the Association and What Are the Objectives of a State Association?” 'The next speaker was Marten L. Jen- sen, Chase Safe Deposit Co., New York, who discussed “Organization.” Andrew H. Troeger, Safe Deposit & ‘Trust Co., Baltimore, spoke on “Per- sonnel,” and George J. Keevil, West- fleld Trust Co., New Jersey, had as 7is topic “The Challenge to Associa- tion Existence.” ‘The bankers planned to forget bus- iness this afternoon and tour the Department of Justice. An unusually nteresting program has been pro- vided for tomorrow. Capital Bankers Active. The members of the safe deposit section of the District Bankers' As- sociation are playing a very impor- tant part in the convention activities. in addition to General Chairman Harris and Vice Chairman Earle M. Amick, other committee chairmen in- clude: Hans W. Ireland, program; John F. Hillyard, finance; Charles K. West, reception; Harry P. White, hotels; IMiss Eva Ricker, publicity; Thomas E. Elin, entertainment; Mrs. Helen R. Sharpe, Ladies' Committee; An- Crew R. Walden, registration; Albert E. Fisher, information, and E. Percival ‘Wilson, transportation. A wide variety of exhibits pertain- ing to the safe deposit business in banks is on display in the Willard lobby, all attracting general atten- tlon. They cover everything from the latest in burglar alarms to the newest types of safe deposit boxes. Crippen Assumes New Duties. Lloyd K. Crippen, an actuary with the Acacia Mutual Life Insurance Co., Wwho has just been elected a vice presi- Gent, has been connected with the in- stitution for the past 16 years. He is a graduate of the University of Michigan and holds member- ships in both the American Insti- tute of Actuaries and the Actuarial ; Society of Amer- % ica. His promo- § iion was voted at the annual meet- ing and he has already assumed his additional g duties. Other Llovd K. Crippen. officers in Acacia were re-elected at the same meeting. Peoples Drug Sales Climb. Peoples Drug Stores sales in April totaled $1,808,358, in comparison with 61,646,523 in April, 1936, an increase of $160,835, or 9.7 per cent, the head office reported here today. Sales for the first four months of the present year amounted to $7,240.739, against $6,504,952 in 1936, an increase of $735,787 or 11.3 per cent. Sales in March showed an increase of 16.9 per cent over March, 1936, the report adds. The Washington Clearing House As- sociation reports total clearings of $29,120,306.32 for the week ended May 5, compared with $24,580,648.79 for the corresponding period last year, an increase of 18.4 per cent. Com- pared with a total of §22,355,675.87 for the previous week, clearings here in- creased 30.2 per cent, Chauncey G. Parker, jr., partner in Auchincloss, Parker & Redpath and retiring president of the .Washington 'Ticker Club, will tender a dinner to the members and their guests at the Chevy Chase Club this evening. This has been an annual event ever since the club was organized. Heard in Financial District. John A. Purcell has become asso- ciated with the Washington office of MacKubin, Legg & Co., in the Wood- ‘ward Building, it was announced today. The Richmond Reserve Bank has notified member banks that the Treas- ury is inviting tenders for two series of Treasury bills, aggregating $100,- 1000,000. Aggregate dividends paid by national panks during 1936 amounted to 8.58 yer cent of outstanding capital stock, compared with 6.66 per cent for 1935, Controller of the Currency J. F. T. O’Cennor said in a speech before the indiana Bankers’ Association. Today’s Trading on Exchange. American Security & Trust Co. stock sold at 295 on the Washington Stock Exchange today. Capital Traction 5s came out at 91'; and closed at 91%. The mewly listed stocks, Lincoln Bervice common and preferred, were awaiting first sales today. The com- mon pays $1 a year and the preferred $3.50. Today's bid on the common stood at 15, with 50 bid and 53 asked for the preferred. Recent earnings re- ports have been good. AL Pacific Can Co.—Common share earnings, 12 months ended March 31, ‘were $1.13, against $1.50. ) 1058 107% T34 T 19 1433 1P~7 1815 133 91y 9% 1% 9y 401 475 43% 32 354 20% 28% 15% 87 301 238, 105 20 129‘6 29’«- 941y 493 463 28 431 15% 23% 597% 11% Alaska Jun (160¢).. 3% Alleghany Corp..... 43}z Alleg pf ww $30 e 43 Alleghany pf xw.. 40 Alleg Corp pr pf. Y Alleg Steel (b80c)._. Allied Chem (6) ' Allied Mills (b2) 161y Allied Stores (b20c) 60 Allis-Chalm (b50c)_ 4% Amal Leather _ ___ 3414 Amal Leath pf (3)-. 95 Amerada Corp (2) . 83 Am Ag Chm Del bl_, 'x Am Bank Note (t1). '« Am Brake Sh (t2) _ Am Brake Shpf 514 . 974 Am Can (t4) = 512 Am Car & Foundry.. 72 Am Chain & Cabl__ Am Chicle (t4) ____. %% Am Colortype . '2 Am Crystal Sug b2_. » Am Encaustic __. 7‘4 Am & Foreign Pwr_. 51 Am & For Pw $7 pf_ 20% Am & For Pw 2d pf_ 16% Am Hawaiian (1) _. 6'2 Am Hide & Leather_ Am Hide & L pf (3). nl. Am Interntl (a40c)- 43 Am Locomotive 108 Am Loco pf (a3) 21% Am Mach & F (11)_. 9 Am Mach & Met 60c. 46'% Am Metals (b25¢) __ 9'« Am Power & Light_ 51%3 Am Pw & Lt pf (5)_. 5913 Am Pw & Lt pf (6) .. 21 Am Radiator t60c - 153 Am Radiator pt () 33% Am Roll Mill 11.20__ Am Safty Raz (12)_ 224 Am Seating (a23%). 41 Am Shipbldg (2)___ 81% Am Smelt & Ref(3) 105 Am Sm & Ref pf(6) 105 27 51% Am Steel Fdry (b1) 2% Am Stl F rts May 15 20 Am Stores (2) 130 Am Sugar pt (7). 21% Am Sum Tob (1) 160's Am Tel & Tel (9)__. 78 Am Tobacco (5) 80% Am Tobacco B (5)_. x 13x Am Type Founders_. 1815 Am Water W (80c)_ 62% Am Woolen pf (bl1). 6% Am Zinc & Lead __ 4813 Anaconda Cop (11) Anaconda Wire b1% Anchor Cap (60c) - Andes Copper _____ Archer-Dan-M(12)_ Armour of I11(b35c) 59'3 Armstrong Cork(2) x 10% Artloom Corp.____. 15% Assoc Dry Goods 692 Atch T & S Fe(a2)_. 971y Atch T& S F pf(5) - 441 Atl Coast Line(al)_ 29% Atl Refining (11)___ 1615 Atlas Corp (80c) 113% Atlas Pwdr pf (5)_ 6% Austin Nichols ____ 6% Aviation Corp Del__ 6% Baldwin Loco (d) 512 Baldwin asd (d)____ 20% Baltimore & Ohfo___ 33% Baltimore & Oh pf__ 31 Barber Co (b25c)___ 25% Barker Bros__. 263 Barnsdall (1) 15 Bayuk Cigar t76¢ 23% Beatrice Cream t1_. 12 Belding Hemin (1) 84 Belgian NR pf(3.24) 20% Bendix Aviat'n b50c 20% Benef Ind Ln (b95¢) 73 Bethlehem Steel (b1 18% Beth 5% pf (1) ___. 117 Bethlehem pf (7)_ 28 Black & Deck b50c_. 22 Blaw Knox (b20c) __ 87 Blumenthal pf(a21) 33% Boeing Airplane __. 41% Bon Ami (B) (2%).-. 2415 Borden Co (1.60) 387 Borg-Warner __ 8% Boston & Maine 15 Bridgept Bras(60c_. 45 Briggs Mfg (12) 43% Briggs & Strat (3)_. 41 Bristol-Myrs t2.40_. 3214 Bklyn-Man Tr (4) __ 86' Bklyn-Man T pf(6)- 4 Bklyn & Queens ___ 22% Bkn & Q T pf (3) 3215 Bklyn Un Gas(1.60) 18 Brunswick-Balki 16% Bucyrus-Erie 108 Bucyrus-E pf (7). 9 Budd (EG) Mfg _ 8 Budd Wheel(a20c)_. 31% Bullard (b25¢) __. 50%% Bulova Watch (+4)_ 26Y% Burr Add M (80c) 1312 Butler Bros (60c) 29% Butler pf (1%) > Butte Cop & Z(a5¢)_ Byer! (AM) Byers (A M) pf_ 27 Buron Jackson (f1). 37 Calif Packing (1%). 2% Callahan Zinc-Lead 12 Calumet&Hecla (1) 27Y% Campbell Wy (11) 25% Canada Dry G Al 57 Canada South (3) 12% Canadian Pacific_ 7 Carriers & Gen(b5c) 7612 138 Case(J I)Co (4).__. 381 113 98% 170 25% 10415 62% 112% 517 274 207 108 39% 691 80% 120 21% 4% T5% 1934 45% 187 95 497% 108 5% 183 134 17% 105 1% 13% 523 37%h 3% 5% 601 25% 42% 3% 47% 7 1% 171% 10% [N 121 85'% Caterpillar Tr (12). 26% Celanese (b75¢)._. 3615 Celotex Corp. 74% Celotex Corp pf(5)._.. 713 Central Foundry 28 Central R Rof N 62Y Cerro de Pasco (4).. 16Y% Certain-teed Prd_ 677 Certain-teed pf (6). 35% Champion Pap (11). 108 Champion P pf (6) 78% Chesapeake Crp(3)- 565 Ches & Ohio t2.80_ 91 Ches&Oh pf A (4)- 67 Chi & Est 111 pf (d) - 2% Ch1 Grt West (d)__. 12 ChiGrt West pf (d) 8 Chilnd &L pf (4)_. 2 Chi Mil St P&P (d)_ 4% Chi M St P&P pf(d). 313 Chi& N W (d) 11% Chi & N W pf (d) 21 Chi Pneumatic Tool 587% Chi Pn T pf b87%e_. 2% Chi R 1 & Pac (4) 52 Chi RI&P 6% pf(d). 6% Chl RI&P 7% pf(d). 19% Chi Yellow Cab (2)_ 121 Childs Co . 109% Chrysler Corp b33 _ 1874 City Ice & Fuel (2)_ 837% City I[ce & P nf 614 60 City Investing (2)_. 7 City Stores __ 32Y% Clark Equip(t1.60)_ 105 ClevElIllupf4l% _ 78 Cluett Peabody (3). 1221% Coca-Cola (12) = 19% Colgate-P-P(t50c). 102% Colgate-P-P pt (6) - 51% Collins & Ak (t2)__ 10814 Collins & Ak pf(5)_ 36 Col Fuel & Iron(bl) 20% Colo & Southern . __ 121 Columb G & El(40¢) 93% ColG& Epf A (6) _ 31 Columb Pic vte (t1) 56% Comcl Credit (14)__ 6313 Comel Inv T (14) _ 104 Comel Inv T pf 4% 145 Comcl Solv (160c) ... 2% Comw & Southern_. 50 Comw & Sou pf(3).. 13% Conde Nast Pub 36% Congoleum-Nrn(2). 121 Consol Cigar - 834 Con C pr pf ww 6% . 37 ConsEdis N Y(t2).. 104 ConsEA N ¥ pf(5).. 3% Cons Film 13 Cons Film pf (lZ)-. 9% Cons Laundrie: 15 Cons Oil (80c) 6% Cons R R Cuba pf._. 7% Cons Textile (d) _ 81% Cons Coal(Del)vte. 33 Cons Coal Del vtc p? 20% Container Corp 1.20. 23 Contl Baking (A).. 274 Contl Baking (B) .. 50% Contl Can (3) _ 20 Contl Diamond (2)— 26 Contl Lnsur (11.60)- 2% Contl Motors 40Y% Contl Ol Del (t1. 6212 Corn Ex Bank (3) 567 Corn Prod Ref(t3)_ 153 Corn Prod R pf (7)- 6 Coty Inc 46 CraneCo. 113% Crane Co p! 10113 .56 911 102 7908 25 1 32 105 2732 100 27 l“ 308 16y 116 685 T 6l =5 » EE e PO O PR ook ST CYRTI O3 JUpOp 'S - o [5 THOTOIN- - PO P 154’/: 154% 1506 -1 % T — % 48% + % 11156 115 1156 +1w 135 3 14% 43 20% 109 By 234 24 109 137% 31% 29 58% 241 1801 115% 1754 47% 141 105 5815 17% R 109+ ] 3034 4315 431 41 277% 175 90 23 4 & 38 47% 131% 6 13% 1114% 281 9in 631 189 111t 162 1674 15% 3614 30 156 136 29 4474 23% 191 693 20% 29% 24% 24 27% 51% 3% 181a 24% 137 58% 79 15% 114 175 83% 53% 841 3% 5% 10% 43% 109% 28! 111 101 16% 41 ) 120 Crucible Stl pf bl % 1% CubaCo.. _ 9% Cuban-Am Sugar 38145 Cudahy Pkg (234)._. 14% Curtis Publishing.-.. 92 Curtis Pub pf (7). 5% Curtiss-Wright ___. 1814 Curtiss-W (A)a50c_ 19 Davega cum pf 1% 100 Dayton P&L pf 4% - 104% Deere & Co 29 Deere & Co pf 1.40_. 20 Deisel-Wem-G(11)_ 424 Delaware & Hudson 17% Del Lack & West __ 614 Den & R G W pf(d). 91y Det & Mackinac 20% Det & Mackinac pf. 30!z Diamond Match (t1 18% Diamond T Mot b25¢ 20 Distil Corp Seag 20'2 Dixie Vortex(11% 3813 Dome Mines (12) 10 Dominion Stores. 49' Douglas Afrcraft. % Duluth S8 & Atl_ 14813 Du Pont (b75c) 112 Duquesne 1st (5 11% Eastern Roll Mill 151 Eastman Kodak(6). 0 Eastman Kod pf(6). 31% Eaton Mfg (2).____ 113, Eitington-Schild___ 21%5 El Paso Nat G 1.60_. 34% Elec Auto Lt 12.40_. 10%4 Elec Boat (a60c) .. 4% Elec&Mus 1 (al8c)_ 175 Elec Pow & Light . 66 Elec Pw & Lt $6 pf. 69 Elec'Pw & Lt $7 pf _. 89 Elec Storage Bat (2) 1'% Elk Horn Coal (d) __ 4% Elk Horn Cl pf (d) 10 Eng Public Serv 614 Equitable Office B._. 137 Erie RR __ 24 Erie RR 1stp: 21 ErieRR 2d pf_. 26% Evans Prod (t1) ___ 4% Exchange Buffet. 31 Falrbanks Co._ 20% Falrbanks Co pf____ 51 Fairb'ks-Morse (t1) 197 Federal Lt & Trac._ 6612 Fed Min & Smelter_. 7 Federal Motor(40c). 5'2 Fed Screw Works__. Fed'd Dept Str(2) _ Fed'ted Dep S pf 414 Fidel Phoenix 11.60. « Firestone T&R (2) - 45 First Natl Strs 1214 3213 Flintkote Co (1) .. 6% Follansbee Bros(d). 47'2 Food Machine (1)__. 43 Foster-Wheeler 2 Francisco Sugar_ « Freeport Sulph (1) 22 Gamewell Co 4 100t Gannett cv pt ( 13!3 Gar Wood Ind aisc. 11'2 Gen Am Inv(a7c) _. 68 Gen Am Trans (a3). 4 Gen Bronze__ Gen Cable __ Gen Electric (b40c) 9 Gen Foods (2) 1% Gen Gas & Elec(A)- 60 Gen Mills (3) Gen Motors (b11,) . 114'3 Gen Motors pf(5) - 3% Gen Pub Service___. 42 Gen Ry Signal (1)._. 3 Gen Realty & Util_. Gen Realty & U pf__ 5813 Gen Refract (a3%). 4« Gen Steel Cast pt___ 4 Gillette S Raz (11)_ 01 Gimbel Bros __ 41 Glidden Co (2) 5213 Glidden cv pf(2%) 4% Gobel (Adolf) 6% Goebel Brew (120c) 31 Goodrich((BF)b6ic 27% Goodyear T & R b1_. 100 Goodyear cu pf(5) 9% Gotham Silk Hose_ 91% Gotham 8 H pf (7) 3 Graham-Paig = 61 Granby Cons ______ 40~ Grant (WT) (11.40) 40% Grt Northern pf____ 9 Grt Northn Ore (1) 5 Grt West Sug 12.40_ 31% Green H L (11.60)_. 133 Greyhound (t80c)_. + Guantanamo Sug_.. 1312 Hall W F Print__ 101 Hanna (MA) pf(5)_ 43 Harb-Walker (12) x 12% Hat Corp of Am 80c 4% Hayes Body 101 Hazel Atlas G1 (15). 123, Hecker Prod (60c) _. 39% Holland Fur(al)_ 105% Hoiland Fur pf(5)_. 21 Hollander & Son(1). 315 Holly Sugar (12) 327 Homestake (+12) __ 37 Houd-Hersh A(2%) 20", Houd-Her B (t1%4)_ 12!; Houston Ofl vt 62% Howe Sound (13)__. 17% Hudson Motor. 315 Hupp Motor s Hupp M rts May24 2214 Illinois Central 36% Indus Rayon (2) .. 110 Inland Steel (14) 47 Insur Sh Md (b10 7% Inter Rap Tr vte(d) 107% Interchemical pf (6) 16% Interlake Iron 5 Intl Agricultural 42 Intl Agricul pr pf. 156 Intl Bus Mach(6)_. 9914 Intl Harvester(2%) 1447 Intl Harv p? (1) 87% Intl Hydro El A 613 Intl Mercantile M _ 114 Intl Mining (b1 55 5% Intl Paper (C)_-.-_ 901 Intl Paper pf._ 5'% Intl Salt (t13%) 314 Intl Shoe (12) 31% Intl Silver 10'% Intl Tel & Tel 24% Interstat Dp St bz‘A 25% Island Creek (2) . 125% Johns-Manv (?!) == 122 Jon&L 7% pf(b1%) 20 Kans City South _ 35 Kans City So pf(al) 16% Kelsey-H A (al3§)_. 1312 Kelsey-H B (allg) .. 51 Kennecott (b50c) _ 16! Keystene S&W b30c 24Y Kresge S S (b30c) 217% Kroger Groe (11.60) x 1814 Lambert Co (2) 17 Lee Rubber (50¢) 35% Leh Port Cmt 1% 1% Lehigh Valley Coal. 97 Lehigh Val Coal pf_ 17 Lehigh Valley R R.. 118 Lehman Corp (13) 48% Lerner Stores(t2).. 6112 Libbey-Ow-F b76c._. 9% Libby McN & L(al) 9615 Lige & Myers B 14 153 Ligg & Myers pf(7) 59 Lima Locomotive _. 43% Liquid Carb (2.60) 64% Loew's Inc (12) 213 Loft Inc _ 52 Lone Star Cmt b75c, 614 Long-Bell Lumb(A) 334 Loose-Wiles (2) . 106 Loose-Wiles pf(5)_. 21% Lorillard P (1.20)_ 86% Louis & Nash b2} .. 29% Ludlum Steel (t1)_. 29% McCall Corp (t2) 161 McCrory Stores 95 McCrory Strs pf(6). 20% McGraw H P b27%e¢ 33% Mclntyre Porcu(2)- 31% McKeesp't Tin Plate 12% McKesson & Rob __ 137 McLellan Strs b76¢- 42% Mack Trucks (t1) 11% Mad Sq Garden b95ex 46 Magma Copper (2).. 3% Maracaibo Oil Exp. 10% Marine Mid (t40c) ... 18% Marshall Field 25% Martin (Glenn) 55 Masonite (11) _ 357% Mathieson Alk (1 ‘fi) 56 May Dept St (13) __. 10% Maytag Co (a50c) . 39% Maytag pf ww (3)_. 106% Maytag 1st pf (). 94 Mead Corp pf (6) 11% Mengel Co 41 Mengel 1st pf (2’»6) 35% Merch&Min (11.60). 58 Mesta Mach (b1%)- 14% Miami Copper. =S ST P - 58~ mBluS aaEPamwanmwl o EI=E Y > Al @ =8 R 3 I e e 9 poroeBunEateaanwBoone T oeLwen e 1 0 €0 €3 Gy 63 1 1t et 1 O 1 1 00 59 10 et 1O 1 3500 - po Do 38 EueSnsT 28% Mid-Cont Pet (b50c)x 10 ) 116 1% 974 39 14% 934 6 18% 19 102%4 15% 2814 28 157 115 12% 158 152 35'% 12% 1324% 295 21 46'% 20 TV 13% 324 184 1564 114% 124 158 152 35% 134 3914 109%3 P4+ E+ I+ 4 ol R Ll e 4% M St P&SSMIsin_ 267 Mission Corp (a45¢c) 7 Mo Kans & Tex: 24% Mo Kans & Tex pf A 7 Mo Pacificpf (d) 85 Monsanto Ch(t1.60). 52'% Montg Ward (12)__. 40% Morrell J (2.40) _ 60 Morris & Esx (3 1% Mother Lode anV,c 31% Motor Prod (t2) 20% Motor Wheel(1.60) 41 Mueller Brass (t1)_ 28% Mullins B (a50c) 914 Mullins pf (7)_ 27% Munsingwear (3)_. 70 Murphy G C (2.60) 102 Murphy G Cpf (5) .. 131 Murray Corp(ab0c). 17% Nash Kelv (1) ___. 13 36 NashvChat&StL.. 10s 18% Natl Acme (a75c) . 1 12% Natl Aviation (al)_. 2 25% Natl Biscuit (1.60)_ 16 1-1)“. Natl Biscuit pf(7)_. 2 Natl Bond & In 1.44_ 4 29% Natl Cash Reg (1) 17 h 22% Nn!l Dairy Prd 1.20. 19 4107 tl Dairy pf B (7). 1208 27% Natl Distillers(t2)_ 19 1514 Nat'l Gypsum Co 3115 Natl Lead (t50c) _ 48 Natl Mall & S C b50c 9% Natl Pw & Lt (60c). s Natl Ry Mex 2d pf_. 70 Natl Steel (12%)_ 62 NatlSupplyCo __ 121% tl Supply pf b1% "4 Natl Tea (60c) _ 10’; Natomas (t80c) 19 w Orl T&M (d).._. 28 Newport [nd(b50c)._ N Y Alr Brake (al)_ N Y Central .__ - NYChi&StL NYCht&StLopf_ N Y City Omnibus % N Y City Omnib p w. 2 808 4 108% 20% 24% N Y Shipbuflding.. N Y Steam pf (6)_ N Y Steam 1st (7) Norfolk South (d)__ 'm‘.n. Norfolk & W'n (10)- 11% North Am Aviation_ 24 North Am Co(b30c). 51% North Am Co pf (3). 27% Northern Pacific __. 51t Northwest Tel (3) . 3% Norwalk Tire & R__ 171 Ohio Oil (b30c) . 5314 Oliver Farm Equip- 1612 Omnibus Corp vtc 13% Oppenheim Collins_ 35 Otis Elev (60c)_ 1615 Otis Steel . _ z 75 Otis Stlcv pf (5%4)_ 22 Outboard Mot bTic 8214 Owens-111 Glass (3). 17% Pacific Am Fish 1.20 9% Pacific Coast______. 24 Pac Finance(t1.80)_ 29’4 Pac Gas & Elec (2)_ 431, Pac Lighting (3)-—- 331 Pac Mills (b50c) 39 Pac Tel & Tel (8 1 Pac West Ofl(a65¢). 9% Packard Mot (bl5c) 2% Panhandle P& R __ 60 Panhandle P&R pf_ 201 Paramount Pic 1407 Paramnt 1st pf (6 18% Paramnt 2d pf 60¢ 41 Park Utah _____ 38 Parke Davis (b1)__. 247 Parker Rust (f1%4) x 7 PatheFilmCorp___ 5 1414 Patino Mines(t§0c). 15 3% Peerless Corp______ 24 43'; Penick & Ford(13)_. 4 94% Penney J C) (4)_ 10 7% Penn Dixie Ceme 1 22 PennGlSdctaslc.. 2 393 Penn Railroad (a2)_ 37 4 11212 Peoples D pf (6%)_. 10s 4613 Peoples GasChi ___ 2 41 Peoria & Eastern_. 34 Pere Marquette_ 20% Pet Milk (1) 16% Petrol Corp(A) b4lc 2 97« Pfeiffer Brew b60c 3 1-32 Pfeiff Brrts May 13 16 463 Phelps Dodge bS0c . 18 49 PhilaCo6%pf (3). 4 887 Phila Co pf(6)new_ 1 5 Phila Rap Tr (4) _. 100s 113 Phila & Read C & I 11 70 Philip Morris(b3%) 6 49 Phillips Petrol'm 12 21 50 Pirelli (A) (a3.13) . 108 60 Pittsburgh Coal pf._ 1 1314 Pitts Screw&B blsc. 3 1 311; Pitts & W V —~. 308 24% Plymouth Ofl (+1)_. 187% Pond Creek Poc (2)_ 22% Poor & Co (B) 81, Postal Tel&C pf(d). 221, Pressed Steel Car. 63 PressStl2d pf 2% . 554 Proctor & Gam(t2)~ 407 Pub Sve N J (2.60) 112 100% Pub Svo N J pt (5)_. 1281 117 Pub Sve N J pf (6)_. 1625152 Pub Sve N J pf (3) . 113% 111 Pub Sve E&G pf(5)- 72% 57% Pullman Inc (1%)_ 24% 181 Pure Ofl_ _ 107 99 Pure Oil 6% pi 112% 108 Pure Oil pf (8) 23% 15% Purity Bak (60¢)___ 16 Quaker State O bdse 8% Radio Corp. ___ 6814 Radio pf A (3%)___ 7% Radio-Keith-Or (). 2914 Raybestos M (113%) Reading RR (2) Rem-Rand (160c) - 80% Rem-R pf ww(414)_ 99 Rensselaer & S(8)__ 5 Reo Motor Car. 27% Republic Steel 99 Republic pr pf A(6). 33'/, Revere Copper_____ Revere Copper(A).. Revere Cop pf 63 __ Reynolds Met (t1)_. Reynolds Spr (1) __ 50 Reynolds Tob B (3). 36 Safeway Stores(t2) 1064 Safeway Str pf(6)_. 43% St Joseph Ld(b50c). 3 St L-SanFran (d)__ 6% St L-San Fr pf (d)_ 421 Schenley Dist (b75¢) 38 Scott Paper (1)____ 114 Seaboard Afr L (d)_ 5% Seaboard A L pf(d). 40% Seaboard Ofl (1) .__. 81 Sears Roebuck (3)_. 26 Servel Inc (t1) 9% Sharpe & Dohm 59% Sharp & Do pf(3%). Q 1 23 23 3 10s 40 5 22 12 130s 6 7 10 34 20 18 2 4% 9 20% 6% 421 32 65% 438, 60% 7% 914 3% 28% Y% 9 19% 1 T% 204 4% 10t 101 111% 100ty 111 284 1483, 99% 313y 16% Socony-Vac (b25c) - 3% South Am G & P 30c 34 South Port Sug(12) 25 SoCal Edison t1%._. 4215 Southern Pacific 24 SouthernRy.._ 45 Southern Ry pf_. 66 Spalding 1st pf_ 5% Sparks- Withing 17% Sperry Corp vtc(al) 21'z Splegel, Inc (1) - 90! plegel cum pf(414) 37% Square D (B) b2ic.. 12% Stand Brands(t80c) 20H Stand Brands pf(7) 8Y3 Stand Gas & El (d) - 19 Stand G&E $4 pf(d) 49Y% Stand G&E $7 pf(d) 27 Stand Inv Corp__ 30% Stand Oil Kan(al)__ 64 Stand OIINJ (11)__ Starrett L S(11.40) - 312 Sterling Prod 13.80_ 17'% Stewart-Warn t50c. 25% Shell Un O1 (a25c) - 12%4 Stiver King (b25e)_. 44% Simmons Co (b50c)_ 132 Simm’ns rts May 19. 15% Stokely Bros (11)__ 21% Stone & Web(a25c). 13% Studebaker Corn. = 68 Sun Ol (11) _ 119 Sun Oil pf (6) 407 Superheater Cq 4% Superior Ofl__ 33 Superior Steel _ 13 Sweets Coof Am___ 241 Swift & Co (11.20) 30% Swift Internatl (2 164 Symington ww bl0g 12% Symington xw bl0e. 674 Telautograph(60c) - 10% Tenn Corp (alse) 50% Texas Corp (2) - 7% Texas Gulf Prabc__ 351, Texas Gulf Sul (12) 42% Texas & PacRR __ 12% Tex Pac C&0 bl0c_ 11'; Texas P L T (al0c)- 37' Thatcher Mfg (11).. 8 The Fair pf (7) 9 Thermoid Co 413 Third Avenue 23 Thomps'n Prod bilc 5! Thompson Starrett 16% Tide Wat As Oil 80cx 96 Tide Wat A O pf 4, 214 Timken-Detroit(11) 604 Timk'n-Roll Brg(3) 3% Transamerica t40c 14 Trans Wst Alr a2ic 814 Tri-Contl (a50c) - 1041 Tri-Contl pf (6) 81 Truax-Traer(b25c) - 7% Truscon Steel ___ % 20th Cent Fox b50c 20th Cent F pf(w,). 9% Twin City R T 66 TwinCRTpfald.. 167 Twin Coach (blsc)_ 3ia Ulen & Co %0 Und-Ell-Fisher (3). 5 Union Carb (3.20) 4% Union Oil(Calif)1.20 126'5 Union Pacific (6) 40%2 Union Pacific pf(4). 2 Union Tnk Car 1.60- 2415 Utd Aircraft(as0c). 16% Utd Air Lines a20c. 193 Utd Am Bosch.____ 69% Utd Carbon (4) 29 Unit-Carr Fast(t2) 47 Utd Corp (a20c).__. 38 Utd Corp pt (3) 1214 United Drug (b23c) 181 Utd Dyewood (1) 96% Utd Dyewood pf(7) 6 Utd Elec Coal .- % Unit E1 C rts May 14 79 United Fruit (13)__ 13% Utd Gas Imp (1) 110% Utd G imp pf (5) 652 Unit Paper’bd b3oc 17 U S & For'n Secur__ 20% U S Freight (11) 156% U S Gypsum pf (7)_ 34% U S indus Alcohol .. 6% US Leather vtc____ 13% 1 S Leather (A)vtc_ 53 US Pipe & Fdry(3). 30% 67 433 64 18% 0% 13t 46 153 2315 15 65 19% — .| Sharply, but Volume 30% 67% — 641 + 18% — 303 — 13% + 464 + 164 1-64 15' 231 + 15% — 48 Vadsco 26 Va-Car Vulcan 12314 118 1% 8% 4% 24, 11k (1% 31 10:00 A.M._ e, 12:00 Noon. Iarations F1 0+ A+ d Companies xEx dividend Total Sales for the Day Dividend rates as given in the above table are the annusi cash payments based on the latest quarterly or half-searly dec- 8 Unit of trading iess than 100 shares. not including extrae, reported 113% U S Realty & Imp. 44'% U S Rubber 89% U S Rubber 1st pf__. 823 b S Smelting (b4) _ 135' U S Steel pf (7) 6% Unit Stk Yds (50¢) - 4% Utd Stores (A) 215 Uti] Pw&Lt (A)(d) SalesCpf__ Vanadium Corp ___ Va-Car Chemical . _ Chem 69 pf Va El & Pw nf (6) __ Detin (a8)_ Wabash (4) Wabash pf (A)(d)_. Waldorf Sys(11.20). Walgreen Co (2) Walker (H) (2) Walworth Co - Ward Baking (B). Warner Bros Pict . Warner-Quinlan (d) Warren Bros (d) __ Warren Fdy&P(t1) Waukesha Mot (1)_ Webster Eiseniohr_ Wesson 0&S (150c) West Penn EI pf(6) West Penn El p£(7) West Pa Pwr pf (7) Western Maryland . Western Pacific Western Pacific pf_. Westn Un Tel (3)__ Westingh'se A B(1) Westhse Elec (b2) x Westvaco Chlor (1) x Wheeling Steel ___ # White Motor _ White Rk M S(1.40) Wilson & Co (50c) .. Wilson & Co ptf (6)_ Woolworth (2.40) _ Worthington Pump. Worth Pump pf(A) 4873 Yale&Towne(160c). 2 201 Yellow Tr & Coach Yel Tr& Cpf(b1%) 160s 12! "l Young Spr& W (t3). 751 Ygstn S&T (b75c) _ 99'3 Ygstn S&T pt (53%). Zenith Radlo (bl).. 6 Zonite Products_ Approximate Sales of Stocks on the N. Y. Stock Exchange. 200s 1508 1508 109 2 40k 8 9 11001 6 361 - 1 6% 40% 891, 1001 36 6% 40 + 8915 — 100'z + 36+ 6% + 260,000 550,000 11:00 AN 1:00 P.M. __ 000 000 tAnnual rate— bPaid this year. being reorganized aPaid last year. o receivershto or NEW YORK COTTON By the Assoctated Press. NEW YORK, May 7.--Early ad- vances in cotton today encountered scattered liquidation, including com- mission house selling of July. More favorable weather in the cotton belt and absence of bullish incentives in- fluenced sentiment. July eased from 13.17 to 13.08 and was within a point of the low in mid- afternoon, when prices were net un- changed to 3 points lower. 1o Futures closed steady, 2 higher to ¢ lower, Cottonseed Oil. Bleachable cottonseed oil futures closed easy, 17 to 24 lower. Sales, 97 contracts; May, 9.61b; July, 9.76b; October, 9.73; De- New Dtlo-nl Prlou 7 _(#).—Cotton NEW ORLEANS. openen steady.ih guler trading joday, but there was little change in prices. cables were a shade better than due trades here were unchanged point up. Jluly eflutrlctl enenul at 13.08. oetober 12.80, t 12.97, January at D00 and initial 12.99 and March at 13.03. Near the end of the first half hour the market was quiet and active positions were at or near the opening prices Early weather reports were ideal for the crop and most floor brokers assumed 8 wailing attitude. There was nothing in the overnight news to aflect the market on_either side. Liverpool reported a small trade. Bom- bay and local demand. with flyrries of covering by shorts. Manchester cables that there was a good demand for cloth and yarn. but delivery difficulties restrict- ed business. Domestic cotton goods mar- kets were reported moderately active, with prices firmer. Cottnmeed oil opened steady, May, 9.34b; July. 0,420 September. 9.47h: Oc- tober, 9.37b; December, 9.29b. b—Bid. PRSE— DOLLAR MOVES HIGHER IN LONDON DEALINGS By the Associated Press. LONDON, May 7.—The foreign ex- change market was quiet today. Final quotation on the United States dollar was 4.93% to the pound, a gain of 3-16 cent over yesterday. New York’s overnigh trate was $4.93 13-16. French francs finished at 11.00 to the pound, compared with 109.94 yes- terday. PARIS, May 7 (#).—Rentes, 3 per cent, 66 francs 35 centimes; 4145 “A,” 71.60; 41%s 1937, 94.65. Exchange on London, 110.17%. The dollar was quoted at 22.30. ¢ |S. H. KRESS SALES LAG | BEHIND 1936 IN APRIL By the Assoctated Press. NEW YORK, May 7.—S. H. Kress & Co. reported $6,392,609 April sales, compared with $6,872,970 a year ago, 8 decline of 6.9 per cent. For the first four months sales totaled $24,- 550,544, against $23,850,765 in the like 1936 period, a gain of 2.9 per cent. Lane Bryant, Inc., reported $1,387,- 152, against $1,386,671 in the like 1936 month. For the first four months sales totaled $4,835,873, agagnst $4,515,- 284 a year ago, & gam of 7.1 per cent. STEEL SCRAP REDUCED. NEW YORK, May 7 (#).—Dow, Jones & Co. reported today a further decline in the price of heavy melting steel scrap at Pittsburgh to a range of $19.50—$20 a ton, off 50 cents, Only small tonnages were reported sold at the new price. Around its peak early last March scrap was quoted in Pittsburgh at $23—$23.50 a ton. Air Way Electric Appliance Corp.— Net income including $50,110 non- recurring profit, in 12 weeks ended March 27, was $9,234, equal to 56 cents a preferred share against deficit of 432,138 in 12 weeks ended March 21, 1836, o | for May . Y| s | May 1 fJuly T Few Specialties Advance Remains Low, Stock Averages 30 15 15 80 .Rn){l Uti). Stks, 1 Unc. 4638 69.1 46.7 69.1 444 69.2 328 58.6 49.5 5.3 318 66.2 435 7238 30.2 434 557 175 8.7 238 169 146.9 153.9 184.3 157.7 51.6 953 618 618 h¢ Net change. Today, close Prev. day. . Month ago. Year ago. 1937 high. 1937 low 1936 high 1936 1932 1929 high 1927 low. 439 442 46.0 438 54.0 4238 53.7 Ve (Comptled by the Associated Press.) BY VICTOR EUBANK Associated Press Financial Writer. NEW YORK, May 7.—Leading stocks encountered recovery difficulties in today's market and closing price trends were indefinite. A few specialities advanced sharply on comparatively small turnovers and Tresistance was displayed by others, but vigor was lacking in either dis rection Business news, on the whole, was comforting, although here and there were signs the industrial picture was clouding in spots Steel scrap at Pittsburgh, long con- sidered an economic baromete reported to have suffered anothe cline of 50 cents a ton, putting it dc about $3 from its Spring peak Official figures on last week's loadings revealed the highest aggregate since last November, but the increase :‘ over the preceding week was less than | seasonal Rails pushed up briskly at the start, Wwith Santa Fe hitung a new toy | one block of 12,000 sha of 1 York Central coming out at a fr tional advance These, with other carriers, were pushed and pulled at intervals. Farm implements also had i | their innings, along with mail orders | Activity was a bit more pronounced than yesterday, but dealings were stil] relatively slow. Transfers were around | 850,000 shares Shares of National Shp))l\ and Owens-Illinois got up about 5 points 2 ieach to their best levels for the year or longer. Celanese also edged | new n; gh ground. Performing on the upside most of | the time were Allied Chem]c' Beth- lehem Steel, Nationa! Steel, Clark Equipment. Allis-Chalmers, Sears, Roebuck, Westinghouse, Air Bral I Case, International Harvester. Oliver | Farm, Santa Fe, N. Y. Central, Southe . | ern Pacific, Southern Raily | port Industries, Libby-Owens, Omnibus, Skelly Oil, Line and Poor & Co. — i | B the Associated Press CHICAGO, May 7.—Except for a temporary flight of May corn to a new high price record, $1.35',, grain values suffered material losses today, Wheat 2% cents maximum. A total of 350,000 bushels of wheat went into store here today, presumably elivery purposes. Uncom pleted May wheat contracts here are approximately 19,500,000 bushels. At the close, wheat was 1 cent t3 under yesterday's finish; May, | 1.2676-1.27; July, 1.1715-: 1 |off to 1, up; Ma: 1.19% and oats cent decline to s advance. B p and ‘N, Y. Atlantic Coast | o ber 1 0024 1 | Decemoer "85 N 4091, Soy beans - September October 1500 1590 15.87 Chicago Cash Market. Cash wheat, No. 1, 1.343;: corn, No. 3, mixed, 1.39; No. 2. vellow, 140-41; No. 3, yellow, 1.38- “140: No. 3, white. 1.38-39; oats, No. 2, £ _‘1 white, 54! ; No. 3, white, 53-54. soy beans. No. 3, yellow, 1.75%; ba ley feed, 70-85 nominal; malung 1.00- ‘28 nominal; timothy seed, 4.25-50 per | hundredweight: clover seed, 26.00- 32.00 per hundredweight. Winnipex Prices. toqy INNTPEG. May 7 (P.—Grain ran o | pgayHEAT— va SPIEGEL APRIL SALES CLIMB 21.4 PER CENT By the Associated Press. NEW YORK, May 7.—Spiegel, Inc., reported net sales in April of $4,609,« 142, compared with $3,795,637 in the same 1936 month, a gain of 21.4 per cent. For the first four months sales ag- gregated $15,031,553, against $11,242.- 801 in the like 1936 period, a gain of 33.6 per cent. The April volume was a new high record for that month, the report stated, and marked the fifty-first con- secutive month in which sales in- creased over the same month of the preceding year. The company does & mail order merchandising business and has head- quarters at Chicago. 55% Dictaphone Corp.—Declared a divi- dend of $1.50 a share on common stock, payable June 1. Last previous payment was $1 a share on March 1, 1937 WELLINGTON FUND A Living Trust Fund Available in units of $10.00 a month and up. Single deposit certificates $300.00 and up. PROSPECTUS SENT ON REQUEST. Wellington Foundation, Inc. William Canby Mgr. Woodward Building National 3717