Evening Star Newspaper, May 17, 1937, Page 22

A—22 xx¥ INSURANCE WEEK FINANCIAL. THE EVENING STAR, WASHINGTON, D. C., MONDAY, MAY 17, 1937. TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE By Private Wire Direct to The Star. Prev 1937 Stock and All New York markets are now on llnlllhl llvlnl time. High. Low. Dividend Rate. i Stock and 2% 17 ¢ ¢ FIh 'av. Dodend ate % rown Zeller (new) FINANCIAL. STOCKS SELL OFF Prev. 1937 8tock and Net | Prev. 1037 High. Low. Dividend Rate, Adfl 00 High. Low. Close. chi High, Low, 1 34 34 34 8tock and Dividend Rate. Bales— Add 00. High. Low. Close. ebu Add 00. High. Low. Close. eh‘c. 26 19% 18% 18% — 8 101 OPENS IN CAPITAL Life Underwriters Aided by Commerce Leaders in Launching Drive. BY EDWARD C. STONE. Members of the District Life Un- derwriters' Association, some 250 strong, held a luncheon at 11:30 today - at the Willard Hotel, launching observance of ns- tional life insur- ance week, in which officials | and agents all over the country will take part. The Iluncheon meeting was most_enthusiastic and followed long preparation for the annual six- day drive. The real open- ing of the week's celebration was to be held in the auditorium of the Department of Commerce this afternoon, when it was expected that about 600 business and professional men, Government officials and leaders in the life insurance field | would be present. Earnest G. Draner, Assistant Secretary of Commerce, was scheduled to make the opening ad- dress. George L. Hunt, 69 8415 228 43 804 A 158 5 594 N George L. Hunt, chairman of the National Insurance Week Committee, selected Washington as the place to ! Vvisit on the opening day of the cam- | paign because of the special interest shown by the Government in the movement. He was on the program | to respond to the address by Mr. Draper, both addresses to be broad- | cast, An added feature of insurance week this year is an elaborate exhibition in room 3224 in the Commerce Build- | ing, open daily. It is an exhibit of industrial and graphic arts in the in- surance field, prepared under the di- rection of Guerra Everett of the Bu- | reau of Foreign and Domestic Com- | merce, and arranged by Suzanna Mullett of the Corcoran School of Art. The exhibit, open to the public, eroused wide interest todav. Bankers’ Convention Echoes. Holmes D. Baker, Citizens' National Bank, Frederick, was elected a mem- | ber of the A. B. A. Executive Council for Maryland by the Maryland Bank- ' ers’ Association. The retiring pres- dent, Howard S. Ruark, was named Vice president of the national organi- zation for Maryland, and C. E. Little of Laurel was placed on the Nomi- nating Committee, with Thaddeus | Jones of Hyattsville selected as alter- | nate. Lionel D. Edie, economist, told the Maryland bankers that there is a ! feeling in oher countries that the ! United States cannot go on perma- | mently buying gold at the present rate. | It is dangerous to try to guess what | the Treasury Department may do | about the gold situation, he said, add- .ing that a certain amount of common ! &ense may be applied to the question, “For instance, a heavy planting of | cotton indicates a large crop for 1937, and this may bring a decline in the price of that staple. If the gold price is cut in the meantime, the Govern- ment would be blamed for the drop in cotton. Thus it is logical to assume | that a cut in gold year is unlikel, although it is sure to come eventually Dr. Edie t s people are exag- | gerating the importance of the gold question. Dawes’ Forecast Discussed. In the financial district this week there has b‘?@n a good deal of dis- cussion of the prediction of a stock | market crash in 1939, made by former | Vice Presides Charles G. Dawes book, “How Long Pros- | Many brokers in the Capital think his diction of a high degree of prosperity until 1939 is more im- portant than his expectation of a | market recession at that time. It is | easier to predict for the short term than the long term. The short term forecast is likely to be more accurate, | the long term more of a guess. He bases his predictions on past de- pressions. In the tenth year after the stock price collapse in 1873 and agaml in 1893 there was a minor business recession. He looks for the same thing | to happen again. According to his | theory, the setback will come late in | 1939, about two and a half years Ixom now. Section Chiefs to Report. The auditors, fiduciaries and safe | deposit section of the District have | been especially active during the last | Year and is planned to make the com- | prehensive annual reports one of the features of the program of the asso- ciation's coming convention a. White Sulphur Spring, Charles H. Doing, brogram chairman, announced today. The auditor's section will be repre- sented by Millard S. Yeatman, auditor of the Hamilton National Bank; fiqu- riaries section by Chairman James A. Soper, vice president and cashier, Lin- coln National Bank, while the safe deposit section will be reported by Acting Chairman Helen R. Sharpe, ‘Bank of Commerce & Savings Peoples Drug Votes Dividends. Directors of Peoples Drug Stores, Inc, have declared the regular 25- cent quarterly dividend on the com- mon stock, payable July 1 to stock- holders of record June 6, and the $1.621; quarterly dividend on the pre- ferred, payable June 15 to stock of Tecord June 1. A refunding issue of $1,391,000 Vir- ginian Joint Stock Land Bank of Charleston, W. Va. 3 per cent farm loan bonds, due June 1, 1942, optional June 1, 1939, is being offered by a banking syndicate at 100 and interest to yield 3 per cent. Washington Railway & Electric pre- ferred and common and Potomac Elec- tric Power preferred stocks are now being quoted ex-dividend on the Wash- ington Exchange, preparatory to the usual dividend payments due in a few days. Heard in Financial District. ‘The Washington office of Winthrop, Mitchell & Co. is distributing a sur- vey which takes issues with those who believe that medium grade bonds can- not advance unless high-grade issues also rise. The survey, “High-Grade Bonds vs. Medium Grades,” discusses the factors accounting for present price levels of fixed income securities and also takes up probable future trends. Despite the probability of a letdown in industrial activity during the Sum- mer months, the prospects for sea- sonal consumer merchandise are very favorable, and dollar sales volumes should exceed those in the same period last year, says the United Business Service in its current report. Resort areas can expect the best vacation and tourist trade in several years, and railroad and steamship companies are already booking a large volume of travel business. perity?” 184 106 915 100 40 100 Bale ety 58 Abr & Strauss (b1). 108 633 Acme Steel (4) __ 1 15 Adams Exp (ab5c)-. 2% Advance Rumely___ 6813 Afr Reduction (t1).. 2% Air-Way Electric. 113 Alaska Jun (1600).. 3% Alleghany Corp..... 4315 Alleg pf ww $30 40 Alleg Corp pr pf. 220 Allied Chem (6) 15 Allled Stores (b20c) 5815 Allis-Chalm (b50c) - 2814 Alpha Port Cmt (1). 341 Amal Leath pf (3)-. 921 Amerada Corp (2) __ 83 Am Ag Chm Del b1 _ 21% Am Bank Note (11). 59 Am Bk Note pf (3)_. 57% Am Brake Sh (12)__ 97% Am Can (t4) 15215 Am Can pf (7) _ 50% Am Car & Fy (b25¢) 72 Am Chain & Cabl__ 98 Am Chicle (t4)____. 18% Am Colortype _ 254 Am Crystal Sug b2 8la Am Encaustic __ 7% Am & Foreign Pwr_. 4 Am & For Pw $6 pf._. 47% Am & For Pw $7 pf_. 19 Am & For Pw 2d pf_ 16% Am Hawaifan (1) _. 612 Am Hide & Leather. 37% Am Hide & L pf (3). 42 Am Home Pr 12.40__ 4 Am lce = 17ix Am Ica pt (2) 13's Am Interntl (a40¢)- 43 Am Locomotive . 21 Am Mach & F (11)_ 4614 Am Metals (b25¢) __ 2 Am News (N Y) (3) 814 Am Power & Light. 0 Am Pw & Lt pf (5).. 594 Am Pw & Lt pf (6)_ )'x Am Radiator t60c__ 31% Am Roll Mill 1.20 . 8 Am Safty Raz (12)_ Am Shipbldg (2) 79% Am Smelt & Ref(3). \ Am Steel Fdry (b1). 23 109'; Am Steel F pf (T) 1208 1111532 1111532 11 Am Stores (2) 203, Am Sugar (2) _ 441 « Am Sugar pf (7). 1284 : Am Sum Tob (11)__ " 16012 Am Tel & Tel (9) 74% Am Tobacco (5) ~ Am Tobacco B (5)__ s Am Type Founders_ x Am Water W (50c) Am Wat W 1st p (6) 61 Am Woolen pf (b1)_ 63 Am Zinc & Lead __ 47% Anaconda Cop (t1)_ 40 Archer-Dan-M(t2)_ 107% Armour(Del)pf(7)_ 7 Armour of [11(b35c) 2 Armstrong Cork(2). 10~ Artloom Corp - 5% Assoc Dry Goods Assoc Inv pf ww (5) Atch T &S Fe(a2)__ 2 Atch T& S F pf(5) 4414 Atl Coast Line(a1)_ Atl Gulf & Wst Ind_ At1G & W 1 pf(a3)_ Atl Refining (1) % Atlas Corp (80¢) ___ 501z Atlas Corp pf (3) 70~ Atlas Powder b1Y 13% Atlas Tack (1)- « Auburn Auto ~ Austin Nichols 75 16% 2% 68% 2% 124 3% 46 40'%% 220% l.fiva 5214 8614 101 86 Baldwin Loco pf(d) 5% Baldwin asd (d) ~ Baltimore & Ohio Tor » Bangor & Ar (213)_. « Barber Co (b25c) sarker Bros = Barker Bros pf 2% _. 241 Barnsdall (1) 14t Bayuk Cigar t75¢c 12 Belding Hemin (1)_ 191 Bendix Aviat'n b30e 20% Benef Ind Ln (b95c) 73 Bethlehem Steel (bl 1813 Beth 6% pt (1) 1161 Bethlehem pf (7) 25 Black & Deck b50c. 22 Blaw Knox (b20c)_ 2'{ Boeing Airplane 407\ Bohn Alum & B(3) 412 Borden Co (1.60) 87§ Borg-Warner Sl Boston & Maine 2% Botany Mines A(d). 15 Bridzept Brss(60c 41% Briggs Mfg (12) ) > RO TTIUTES P oy CIOP - Cr e » Bklyn-Man Tr (4) __ vn-Man T pf(6). 223, Bkn & Q T pf (3) 31 Bklyn Un Gas(1.60) 2 Brown Shoe (2) Brunswick-Balke. 575 Bucyrus-Erie 8% Budd (EG) Mfg 8 Budd Wheel(a20c) 31 Bullard (b23c) 253% Burr Add M (80¢) 7 Bush Terminal 1314 Butler Bros (60c) - 28% Butler pf (1}3) 4!z Butte Cop & Z(aSc) - 207 Byers (A M) 27 Bvron Jackson (+1). 37 Calif Packing (143) 2% Callahan Zinc-Lead 12 Calumet&Hecla (1) 264 Campbell Wy (11) _. 5l Canada Dry G Ale__ « Canadian Pacific . 48% Cannun Mills(b50c) 1475 Cap Adm (A)(al) Car Clin & O stp (5) 7 Carriers & Gen(sc) - 08 o 1 1010 e 4 00 23 00 %0 i 0 1S 129% 116 Case(J 1)Co pf(7) .. 8513 Caterpillar Tr (12). 26% Celanese (b75¢) 11'(K : 106’3 Celanese pr pf A(7). 108 '?G’z Celotex Corp . . ... 74% Celotex Corp pf(5). 715 Central Foundry ... 12%5 Cent Violeta Sug 60 Cerro de Pasco (4 15 Certain-teed Prd __ 6713 Certain-teed pf (6)- 2 Champion Pap (t1). Champion P pt (6) _. 77% Chesapeake Crp(3)- 559 Ches & Ohio 12.80__. 91 Ches & Oh pf A (4)_ 213 Chi & East [11 (d) _.. @ Chi & Est [11 pf (d). 2!s Chi Grt West (d)___ ® o S 3 Seen7 12 Chi Grt West pf (d) 8 Chilnd & L pf (d).. 2 Chi Mil St P&P (d)_ 4% Chi M St P&P pf(d). 3% Chi&NW (). _ _ 21 Chi Pneumatic Tool 55% Chi Pn T pf b87 }%e. 214 Chi R 1 & Pac (d) 51 Chi RI&P 6% pf(d). 10% 6% Chi RI&P 7% pf(d) 221% 15% Chickasha Cott'n Ofl 157 12% Childs Co = 135% 106% Chrysler Corp bS‘A 21% 187 City Ice & Fuel (2)_ 92 83% City Ice & F nf 634 - 40% 32‘/‘ Clark Equip(11.60). 113 Clev ElIllu pf 4% __ AMM Clev Graph Br (2) _. 1307 126 Cluett Peab pf (7). 1701 12215 Coca-Cola (t2) 25% 19% Colgate-P-P(150¢) - 623, 513 Collins & Aikn (+2)_ 2014 Colo & Southern 21 Colo & South 1st pf. 12 Columb G & El(40¢c) 93% Col G& E pf A (6) . 31 Columb Pic vte (t1) 40% Columb Pic pf(2%). % 56% Comcl Credit (14) ._ 114 J00 Comcl Cred pf (4% ) 80% 63% Comel Inv T (t4) __. 21% 14% Comcl Solv (160¢) 4% 2% Comw & Southern__. 75% 50 Comw & Sou pf(3)._. 45% 36% Comgoleum-Nrn(2). 49% 34% Cons Edis N Y(12).. 108 103 ConsEd N Y pf(5).. 5% 3% Cons Film_ 18% 12% Cons Film pf (a2).. 17% 14'% Cons Oil (80c) __... 15 5 Cons Textile (d).... 13% 81 Cons Coal(Del)vte_ 523% 33 Cons Coal Del vtc pt 37% 20% Container Corp 1.20. 37% 22 Contl Baking (A).__. 5% 2% Contl Baking (B)... 691 50% Contl Can (3) - 25% 19% Contl Diamond (2) .. 42% 35% Contl Insur (11.60). 3% 2 Contl Motors. _ 47% 39% Contl Ofl Del (11).. T1% 547% Corn Prod Ref(13).. 10% 6 CotylInc ... . 56% 421 Crane Co. 37 29% Cream of Wheat(2). 18% Crosley Radioaly . 70% Crown Cork & 8(2)- 40 CrnCa&Spfxwiy.. - > EL- T TS T PG - e Cyey 7014 3% 8% o ... S @ o S H X 28% 100% 4% % 16% 24 681 ST Net High. low Close. chge. 60 0 e (0] -2 =% A=t -1 -2% -3 ar 1+4+1 | 141 W { [ 0 1 o ) 3 1% Cuba Co 14% 8% Cuban-Am Su; 127 110 Cuban Am S pf b2% 20% 12 Curtis Publishing_ 109% ER Curtis Pub pf (7)__. 8% 5% Curtiss-Wright_ 23% 16 -Curllna-W (A)ablo. 62 48 Cushman Sonspf__. 24 19 Davegacumpf13_ 137% 104% Deere & Co.. . 31% 27% Deere & Co pf 1.40 29 20 Delsel-Wem-G(f1)_ 2412 173 Del Lack & West. » 6% Den& RG W pf( 146 2 114%; Detroit Edison (14). 19% 9% Det & Mackinac. 3615 284 Diamond Match (11 23 18 Diamond T Mot b250 29 20% Distil Corp Seag 51 3813 Dome Mines (t2 12% 10 Dominion Stores___. 77% 47% Douglas Afreraft__. 39% 2815 Dresser B (a1) 3% 2 Duluth SS&At] pf__. 180% 14814 Du Pont (b75¢) 135% 1313 Du Pont deb (6)_. 115% 112 Duquesne 18t (5)__. 17 10% Eastern Roll Mills . 175% 151 Eastman Kodak (8) 163 150 Eastman Kod pf(6), :mq 31% Faton Mfg (2) . 11% Eitington-Schild___ 29 21% El Paso Nat G 1.60 34% Elec Auto Lt 12.40_.. 9% Elec Boa* (a60c) ._.. 4% Elec&Mus 1 (al8¢)_ % Elec Pow & Ligkt —. 60 Elec Pw & Lt $6 pf_. 67'% Elec Pw & Lt $7 pf _ 38% Elec Storage Bat (2) 1% Elk Horn Coal (d) .. 4' Elk Horn Cl pf (d) . lhu 108% Endicott-Jhn DE(5)- 8 194 Erie R R 2d pf 10 Eureka Vac (80c)-. 24'% Evans Prod (t1) 3% Exchange Buffet 314 Fairbanks Co__ 20% Fairbanks Co pf_. 50 Fairb'ks-Morse (1) 531 Fajardo Sugar (b2). 19% Federal Lt & Trac 6612 Fed Min & Smelter_. 7 Federal Motor(40c). 513 Fed Screw Works.__. 3l Fed Water SveA . 36 Fidel Phoenix t1.60. 3215 Firestone T&R (2) - 44 First Natl Strs t214 30% Flintkote Co (1) _ 6% Follansbee Bros(d). 42'4 Foster-Wheeler____ 24% Freeport Sulph (1)_ 109 Freeport Sul pf(6) 26 Fuller Co 2d pf. 22 GamewellCo _ 95 Gannett cv pf (6) 124 Gar Wood Ind as5c_ 651 Gen Am Trans (a3). 12'3 Gen Baking (160c) 22 Gen Cable __ 39 Gen Cigar (14) 136 Gen Cigar pt (7) » 50 Gen Electric (b40c) 44 36 Gen Foods (2) . _ 3% 1% Gen Gas & Elec(A)- 657 60 Gen Mills (3) _ 124 117 Gen Mills pf (6) 7 54% Gen Motors (b13;) « 1142 Gen Motors pf(5)__ 9% Gen Outdoor Adv 15'x Gen Print Ink new. 3% Gen Pub Service __. 41l Gen Ry Signal (1).. 3 Gen Realty & Util_ 5812 Gen Refract (a3%). 61'; Gen Steel Cast pf __ 22% Gen Thea Eq(b25c). 15% Gillette S Raz (1) 20% Gimbel Bros 83 Gimbel Bros pf(6) 41 Glidden Co (2) 511 Glidden cv pf(2%)_. 4% Gobel (Adolf) 2 5% Goebel Brew (t20c). 110% Gold Stock Tel (6) . 31 Goodrich(BF) bj0c._ 47% 27% Goodyear T & R bl_ 100 Goodyear cu pf(5) 812 Gotham Silk Hose 91% Gotham S H pf (1) 3 Graham-Paige 614 Granby Cons 34 Grand Unlon ctfs 19% Grand Union pf b1y 39 Grant (WT) (11.40) 40% Grt Northern pf 19 Grt Northn Ore (1)_ 35 Grt West Sug 12.40_ 30Y% Green H L (11.60) . 124, Greyhound (180c) . 101 Greyhound pf(55¢) 2% Guantanamo Sug.- 40 Guantanamo pf 11% Gulf Mobile & } 3113 Hackensack W b7se 25!y Hamilton W (b63c). 98 Hanna (MA) pf(5). 43 Harb-Walker (12) 12% Hat Corp of Am 80c 4 Hayes Body ___ 109% 101 Hazel Atlas G1 (15). 157 12 Hecker Prod (60c) 105% Helme (GH) (15) . 5 150 Hercules Pwdr (6)_ 1351 126 Hercules Pdr pf(6) - 30% 21 Hollander & Son(1) 43‘4 31% Holly Sugar (t2) ... 336 Homestake (112) _ 20% Houd-Her B (11%)_ 121 Houston Oil vte - 627 Howe Sound (13)_ 15'% Hudson Motor 3 Hupp Motor | 132 Hupp M rts May24 | 38 221 lllinois Central | 47% 36% Indus Rayon (2) | 131% 104's Inland Steel (4) _ s Inland St rts June 4 fospiration Cop 4% Insur Sh Md (b10c) 41 Interchem Corp(t2) 4% Intercontl Rubber 28Y; 16%3 Interlake Iron 9% 5 Intl Agricultural . 6312 42 Intl Agricul prpf_ 189 - 153 Intl Bus Mach(16)_. 111% 99% Intl Harvester(2%) 167 8% Intl Hydro E1 A 15% 6% Intl Mercantile M _. 18% 10% Intl Mining (b30c)- 73% 55% Intl Nickel (b1)_. 16' Intl Paper (A) 10% Intl Paper (B) 5% Intl Paper (C) 90% Intl Paper pf _ 25% Intl Salt (11%)_. 42% Intl Shoe (+2)_ 9% Intl Tel & Tel 24% Interstat Dp St b2 17% Intrtype Corp b30c 126 120 Johns-Mansv pf(7) 136 120% Jon&L 7% pf(bl%) 29 20 KansCity South___. 23% 16% Kelsey-H A (a1%)_. 19% 12! Kelsey-H B (al%4)_. 69% 51 Kennecott (b50c) _. 20% 15% Keystone S&W b30o 46% 38' Kimberly Clark(1). 9% 5% Kinney (G R) Co_ 29% 231 Kresge (S S) b60c 21% Kroger Groo (11.60: 18% Lambert Co (2) - 17 Lee Rubber (50c) . 1% Lehigh Valley Coal- 18\;, 9% Lehigh Val Coal pf_ 24% 17 Lehigh Valley R R_. 187 117% Lehman Corp (13)_. 21% 16- Lehn & Fink b623%e. 79 61% Libbey-Ow-F b75c 15% 9% Libby McN & L(al) 114 95% Ligg & MyersB 14 x 175 153 Ligg & Myers pf(7) 83% 59 Lima Locomotive. 43% Liquid Carb (2.60) 64% Loew's Inc (12).__. 24 Loft Inc____ 50% Lone Star Cmt bibe. 614 Long-Bell Lumb(A) 21% Lorillard P (+1.20) - 19% Louisv G&E b37%%c. 86% Louis & Nash b234 _. 29% Ludlum Steel (t1)_. 29 McCall Corp (12)... 15% McCrory sStores._ 88 McCrory Strs pf(6). 20 McGraw H P b27%e. 32% Mclntyre Porcu(2) 3114 McKeesp't Tin Plate 12% McKesson & Rob __ 1313 96 M s out&—- B SR Tt § 126 18, ] 33 1 6 644 11% ho aRS—2O0na ) ] S e n B~ B g - - - 27% 3% = P - 16% 471 44% McKess & Rb pf(3). 112% 101 McLellan St pf (6) . 62% 42% Mack Trucks (t1) 58% 44% Macy (R H) (12) __ 15% 11% Mad Sq Garden b5e 7% 4% Manati Sugar (d) - 16 Manati Sug pf (d)-. 13% Mandel Bros (b1) 8% Man El md gtd (d).. 3% Maracaibo Oil Exp.. 10% Marine Mid (t40c).. 2 Market St Ry 24Y% Market St Ry pr pf. 18% Marshall Field .__.. 24% Martin (Glenn)..... 7 MATtin-PAITY cmmme 543% Mascnits (t1)emeaas “ . FUUPSIOS- (UP SN PITSITI GG =P YOIV PRI PIUTITN - VT TP < PN 1% + W 8% — W 112 +1 12% + W% 23% 9714 100 1447 6lz 12613 2 25 32% 351 123% 122 22 —1% ) 152V, 152% — % 63 — 14 48% + 14 T4% —2% 2% — 53% —1% T% 22 + % 20 + % 91% +1% 30% 28% — % 15% — 1% 86 ~2 19% — % 3% - U 33 13% 44% 98 =% - -3 4 —1% 45 =1 12% + % 41% 34 Mathieson Alk (134) 166 155 6614 15% 8615 163 4% 2% 26% Mathieson pf A (7). 20s 142 556 May Dept-8t (13)__. 5 9% Maytag Co (a50c) .. 70% Melville Shoe (15). 11% MengelCo ____ 39% Mengel 1st pf (214). 58 Mesta Mach (b1%). 14% Miami Copper - 35% 27'% Mid-Cont Pet (b50c) 48 36 Midld Stl Prod(t2)_ 112 ll‘n‘h Midid St 1st pf(8)_ 11 Minn Moline Pow _ 101 8814 Minn Moline Pw pf_ 34 26% Mission Corp (b1) - 67 Mo Kans & Texas _ 24Y% Mo Kans & Tex nf A 7 Mo Pacific pf (d) 28 Mohawk Carp(1.20) 48 Montg Ward (12)_ 40% Morrell J (2.40) _ % Mother Lode a12%c¢. 20'% Motor Wheel(1.60)_ 40 Mueller Brass (t1)_ 24% Mullins B (a50¢) 91% Mullins pf (1) 27'% Munsingwear (3) _ 13 Murray CorD(lEQe). 17% Nash Kelv (1) ___. 36 NashvChat&StL.. 18 Natl Acme (a75c) 12 Natl Aviation (a1).. 33% 25'% Natl Biscuit (1.60)_ 167 148 Natl Biscuit pf(7)._. 4 257 Natl Bond & In 1.44. 387 29% Natl Cash Reg (1) .. 26's 22 . Natl Dairy Prd 1.20. 112% 108 Natl Dairy pf A (7). Y 674 Natl Dept Strs pf _. 27 Natl Distillers(t2) . 1473 Nat'l Gypsum Co 3113 Natl Lead (150c) __ 48 Natl Mall & S C b50c 9 Natl Pw & Lt (60c). 13 Natl Ry Mex 2d pf. 70 Natl Steel (12%)_. 62 Natl Supply Co 8% Natl Tea (60c) 101 Natomas (t80c) 100 Newberry pt (5) 19 New Orl T&M (4 28 Newport tnd(b50c). 7312 N Y Air Brake (al). 40 N Y Central - 25"- N Y City Omnibus_. NY Dock . . N Y Dockpt __ N Y & Harlem (5) N Y Investors (d) .. % NY NH&H (4) ._ NY NH & H pf (). N Y Ontarfo & W_ N Y Shipbullding._. N Y Shipbldg pf ... N Y Steam pf (6) __. 2 Norfolk South (d) _. 4 Norfolk & W'n (10). North Am Aviation. North Am Co(b30c) 3 Northern Cent (4)_. "7‘. Northern Pacific ... 31 Norwalk Tire & R_. 17% Ohio Oil (b50c) 1 5313 Oliver Farm Equip.. 1612 Omnibus Corp vte_. 33% Otis Elev (60c) ... 16 Otis Steel g 22 Outboard Mot b75¢ 8215 Owens-I11 Glass (3) 17% Pacific Am Fish 1.20 9 Pacific Coast 23 Pac Finance(+1.80). 28y Pac Gas & Elec (2). 43'; Pac Lighting (3) ... 31 Pac Mills (b50c) .. 8% Packard Mot (b15c) 2% Panhandle P & R P » ok S0 BN AR AR NS R RO DS 0 B E o 5 o - 5 60 Panhandle P&R pf 105 Paraffine pf (4) .___ 17% Paramount Pic =t 2126 Paramnt 1st pf (6). 164 Paramnt 24 pf 60c - 4 Park Utah 24'; Parker Rust (11 ‘A). 4% Parmelee Trans . 612 Pathe Film Corp 1474 Patino Mines(160¢) % Peerless Corp 381x Penick & Ford (b1)_ 94Y Penney J C) (4) 37 Penn Coal & Coke . 7 Penn Dixie Cement. 393 Penn Railroad (a2). 49% Peoples Drug (t1)_. 9'x Pfeiffer Brew b60c_. 43% Phelps Dodge b80c_. 14 Phila & Read C & I 70 Philip Morris(b3%) 4915 Phillips Petrol'm 12 13'4 Pitts Screw&B blsc 93!s Pitts Steel pf_ 24% Plymouth Oil (1) . ‘s Poor & Co (B) 8 Postal Tel&C pf(d). 20 Pressed Steel Car . 551 Proctor & Gam(12)_ 40'« Pub Sve N J (2.60) .. 1004 Pub Sve N J pf (5) ., 55% Pullman Ine (1%).. 7' Pure Ofl 2 99 Pure O11 6% pf_ 108 Pure Oil pt (8) 15% Purity Bak (60c) 16 Quaker State O b45e 8% Radio Corp = 66 Radiopf A ll%) - 7% Radio-Keith-Or (d). 1712 Reliable Stores (1) - 21 Rem-Rand (t60c) . 8013 Rem-R pf ww (4%). 5 Reo Motor Car 2 Republic Steel 3312 Revere Copper. 22% Revnolds Met (?1). 60 Reynolds Tob (3) _ 4955 1leynolds Tob B (3) 36 Safeway Stores(t2) 1064 Safeway Str pf(6) 110 Safeway Strs pf(7) 43% St Joseph Ld(b50¢) 3 St L-San Fran (d)_. 6% St L-San Fr pf (d) 1414 Savage Arms (b25¢) 41'2 Schenley Dyst(b75¢c) 11 Schulte R Strs (d) _. 13% Schulte R S pf (d) . 1% Seaboard Air L (d)- 5 Seaboard A L pf(d). 36% Seaboard Of) (1) ... 7i4 Seagrave Corp____. 81 Sears Roebuck (3).. 26 Servel [nc (t1) . 29 Sharon Steel (1. 20) 9% Sharpe & Dohme 59 Sharp & Do pf(335). 127 Shattuck F G (60c). wShell Un Oil (a26c) . 102 Shell Un Oil pf 5% .. 12Y% Silver King (b25¢) .. 40 Simmons Co (b50c). 42 Skelly Oil (b50c) .__ 85% Sloss-Sheffield Stl._ 197 608 142 1|2 8% 10% 103 21 31% 82 43% 2643 813 18 121 1 64 18 4% 9 60 60 99'; 100 2% 24 237 237 IU‘. 10'4 41% 102 29% 20% 63 421 156 1 324 65% 43% 60%% Sloss-Sheft pt (6) . 21Y% Snider Pkg (bl1%) 16Y% Socony-Vac (b25¢) - 3% South Am G & P 30c 34 South Port Sug(t2) 41 Sou Porto R 8 pf (8) 224 So Cal Edison t1%_. 42'5 Southern Pacific. 24 Southern Ry. 45 Southern Ry pf..... 5% Sparks- Withing_ ... 20 Spear & Co (a50c) 84 Spear & Copf (5%). 17 Sperry Corp vtc(al) 284 Spicer Mfg (a3)._.__ 191 Spiegel, Inc (1) 88 Spiegel cum pf(435) 12% Stand Brands(t80c) 7% Stand Com Tobac __. 7' Stand Gas & El (d) _ 17% Stand G&E $4 pf(d) 44 Stand G&E $7 pf(d) 41% Stand Ofl Calif(t1). 431 Stand Ofl Ind (11) .. 708 102 102 2 2% 21% 55 18% 17 4 37 3 h 34% 10s 143 9 v 23% 56 35% 47 574 20V 7N 18 22 . 63% Stand Ofl N J (1) 126'; Union Pacific (6) 1 | 164 105 T5% 12615 150 169 9% Ry 21 4% 25y 39%¢ 1124 128 76 6213 37 465 1017 40% 9N 145 631 Sterling Prod 13.80_ 17% Stewart-Warn t50c. 20% Stone & Web(a25¢). 13% Studebaker Corp_ 67 SunOil (t1).___ 407 Superheater Co (1). 43 Superior Of] _ 30 Superior Steel 3214 Sutherland P 11.60.. 23% Swift & Co (11.20) .. 30% Swift Internatl (2). 15% Symington ww b10c 117 Symington xw b10a. 11% Talcott (J) b30e _ 50 Talcott (J) pf t2% 67 Telautograph(60c)._ 10% Tenn Corp (a15c) 50, Texas Corp (2) 6% Texas Gulf PraSc._ 3513 Texas Gulf Sul (12) 11% Tex Pac C&O bl0c 10' Texas P L T (allc). 9 Thermoid Co 4% Third Avenue _____ 9% Thompson J R t50c. 23 Thomps'n Prod b4oc 5! Thompson Starrett_ 22 Thompson Star pf _ 16% Tide Wat As Oil 80c 93 Tide Wat AOpL 41y 21! Timken-Detroit(t1) 60% Timk'n-Roll Brg(3)x 131 Transamerica t40c._ 13% Trans Wst Air a25e. 8 Tri-Contl (a50c) __. 815 Truax-Traer(b25¢) 33% 20th Cent Fox bs0c. 7 93 TwinCity RT. ___. 3 66 TwinCRTpfalé _ 20a 16% Twin Coach (bl3c). 1 76!3 Und-Ell-Fisher (3). 4 63 Union Bag& P (2).. 1 Unfon Carb (3.20) . 17 233 Union Oil(Calif)1.20 l‘i'n 2643 Union Tnk Car 1.60 x 23% Utd Aircraft(as0c). 15% Utd Afr Lines a20c_. 2413 Utd Biscuit (1.60)._. 69% Utd Carbon (4) 47 Utd Corp (a20e) - 38 Utd Corp pf (3) - 121 United Drug (b25¢). 18% Utd Dyewood (1) 5% Utd Elec Coal ... __ 46; Utd Eng & Fy (12) 77% Umted Fruit (13) 127 Utd Gas Imp (1) 613 Unit Paper'bd b3oc 12% U S Distributing pf_ 16 US& For'n Secur.. 173, U S Freight (11) 05'2 U S Gypsum (t2) 6 U S Leather vtc 131 52% 1J S Leather(A)vtc.. U S Pipe & Fdry(3). U 8 Realty & Imp us us us us Rubber Rubber 1st pf __. Smeiting (b4) _. Smelt pf (3%3) .. U S Steel U S Steel pf (7). __ U S Tobacco pf (7). Unit Stk Yds (50c) - 41, Utd Stores (A) 21 Univ Cyelops Steel Univ Leaf T pf (8) 2's Util Pw&Lt (A)(d). 113 Vadsco Sales Corp .. 26 Vanadium Corp __ 875 Van Raalte (b1%) 7% Va-Car Chemical Va-Car Chem 6% pt Va El1& Pw of (6) _ Vulcan Detin (a8) __ V.abash pt (A)(d) . Waldort Sys(11.20) Walworth Co g Ward Baking (A). Ward Baking (B) ._. Warner Bros Plct _ Warner-Quinlan(d) Warren Bros (d) Warren Fdy&P(t1) Waukesha Mot (1) - Webster Eisenlohr_ Wesson O&S (150c) West Penn El pf(6) West Pa Pwr pf (6) West Pa Pwr pf (7) Western Maryland Western Md 2d pf _ Western Pacific pf. Westn Un Tel (3) __. Westingh'se A B(1) Westhse Elec (b2) Weston EI Inst b25c Westvaco Chlor (1) Westvaco 5%pf 134 Wheeling Steel White (SS)Den 1.20 White Motor * White Rk M S(1.40) 4 White Sew Mch pf__ 4 Wilcox Oil & Gas ___ Wilson & Co (50c) ... Woolworth (2.40) _ Worthington Pump. Worth Pump pf(A) 100s 99 Wright Aero (al)_.. 10s 6815 Wrigley W {r (t3)_. 1 487 Yale&Towne(160c). 2 20% Yellow Tr & Coach._ 6’ 377 Young Spr& W(t3). 75% Ygstn S&T (b75c) .- 31 Zenith Radio (b1)._ 5% Zonite Products____ x 283, 43 45% 89 11412 1201 4345 89 114 108 508 10s 55% 431, 3 9 9 6 143 102 -2 21% + % 17% — % 3% 34y, -1 23% + W 556 =14 35% — 47 5% + 20% TT% —67% 1T — = 165 — % 1213 = 3 11% -1% 50% -2 INQUIETTRADING Losses of Fractions to $1 Recorded—Pace Slowest in Two Years. Stock Averages 30 15 Indus. Rail Net change. —9 Today close. 88.7 Prev. day... 89.6 Month ago.. 94.7 812 high __101.6 15 80 Otil. Stk: =g e 438412 447 417 46.2 458 337 454 495 54.0 378 412 435 537 302 434 55.7 = . 87 239 169 146.9 153.9 1843 157.7 low .__ 516 953 618 61.8 * New 1937 low. (Compiled by the Assoclated Press.) 655 66.3 0.2 603 15.3 65.4 12.8 BY VICTOR EUBANK, | Associated Press Financial Writer. NEW YORK, May 17—Leading stocks gave ground moderately today 7T + W 12% — % 5675 —2%, | 7 | 36% + 12% - 11 | in the slowest five-hour market session | in more than two years. While a few issues edged up mod- | estly, and many were unchanged, de- clines of fractions to a point or so predominated at the close. ‘The ticker tape was at a stands'.l | for minutes at a time, and in the fourth hour only 50000 shares | changed hands, The news marketwise was neither * | especially good or bad, but buying, as | well as selling incentives, were notably lacking. Inactivity of trading forces was a‘- tributed partly to inclination to await | the outcome of labor problems con- , | fronting steel and other industries. M’U; =13 27% — W 24 Y 16 W 24 8% + 45 — No particular surprise was expressed in the financial district over a drop in this week's steel mill operations of 1.2 points. Steel stocks acted no wo: | than other groups. Transfers approximated 450.000 shares. On April 1, 1935. the turnover amounted to about 444,000 Bonds were uneven, as were most major commodities. Wheat at Chi- cago was off % to up 1!, cents a | bushel, and corn was unchanged to i | ahead 2'x. Amcng new share lows for the vear h: or longer were those of Standard Oil of New Jersey. American Tobacco “B."” Reynolds “B.” Electric Power & Light. Public Service of New Jersey and National Biscuit In the backward United States Steel. Bethlehem. Re- public Youngstown Sheet & Tube, Chrysler, American Telephone, Con- solidated Edison. American Water Works, Allis - Chalmers, Goodyear, United States Rubber, Goodric Montgomery Ward, Sears-Roebuck, Boeing, Douglas Aircraft, Kennecott, Cerro de Pasco, American Smelting, | Internationaw Nickel, Texas Corp, | Standard Oil of California, American squadron were _ | Can, Westinghouse. General Electric, 4515 +1 89 -1 114 8y — | mv 55‘\ =1 434 ~11 | 3()‘- = 447 — 5% + la Approximate Sales of Stocks on the N. Y. Stock Exchange. 10:00 12:00 Noon. ¢ Total Sales for the Day 340,000 AM._ 110,000 11:00 A M. 290,000 1:00 P.M. 210,000 940.000 Dividend rates as given in the abdve table are the annual cash payments based on the iatest quarterly or half-yearly declarations. not s Unit of trading less than 100 shares. tAnn ual rate— 155 s dividend 153 including__extras reported aPaid last year. i recetvership or b Paid this year, being reorganized. Railway Buying In Quarter Hits Peak Since 1930 By the Assoctated Press. CHICAGO, May 17.—The magazine Railway Age reported railway pur- chases of materials and equipment during the first quarter were the highest for the period since 1930, more than doubling the figure for the first quarter of 1936 and approximately tripling the 1935 period. Total purchases were $258,117,000, the magazine sald, of which $81,742,000 was for equipment. During the first quarter of 1936, purchases aggregated $125,250,000, of which but $13,860,000 was for equipment. The initial 1935 quarter brought purchases totaling $85,657,000. Railway buying in the first quarter of 1929 reached $389,111,000 and in’ the same perlod for 1930 it was $317,715,000. e CRUDE RUBBER IMPORTS DROP BELOW YEAR AGO By the Associated Press. “TEW YORK, May 17.—The Rubber Manufacturers’ Association today an- nounced imports of crude rubber in the United States during April totaled 35,850 'long tons compered with 40, 370 in the like 1936 month. For the first four months of this year imports were 163,998 tons against 144,332 & Jear ago. NEW YORK COTTON By the Associated Press. NEW YORK, May 17.—Slight open- ing advances in cotton were followed by declines today under commission house liquidation and New Orleans selling. More favorable weather predictions in the cotton belt and an absence of fresh bullish factors influenced senti- ment. October sold off from 12.63 to 12.44 and in midafternoon was quoted at 12.50 when prices were generally 7 to 8 points net lower. Volume was small. Futures closed steady. 8 to 11 lower. Low. Close. July n—Nominal. Cottonseed Oil. Bleachable cottonseed oil futures closed steady, 7 to 8 higher. Sales, 151 contracts, including 2 switches July, 9.92b; September, 10.00; October, 9.91b; December, 9.80b. b—Bid. New Orleans Prices. NEW ORLEANS, May 17 (#.—Cotton opened steady todl! eady to .and nm trades showed gains of 2 01 J\lly opened at l"6 gld October at 12.59, January at 1271 and March at During the first half hour the market was extremely quiet and prices moved around the opening levels. Official reports of the appearance of the army worm in Northwestern Missis- sippl and Eastern Arkansas were studied with interest by the trade. SGottonseed ol opened “steady. 1 .35b; September, 9.44b cember, 9.23b, b—Bid. May. ocw- BRITISH MARKETS CLOSED. LONDON, May 17 (#).—All com- modity exchanges in Great Britain and the London 8tock Exchange re- mained closed today, Whitmonday. s SMALL INCREASE SEEN IN TRANSIT REVENUES 8pecial Dispatch to The Star. NEW YORK, May 17.—Revenues for the transit industry for the week ending May 8, 1937, based on tele- graphic reports received from a repre- sentative group of transit operating companies, showed a moderate in- crease over last year Transit Journal's revenue indicator stands at 105.22, which represents a gain of 522 per cent over the corre- sponding week in 1936. For the week ending May 1, 1937, the indicator was 104.44. Gains continued during the latest week at substantially the same rate as for the preceding week. The trend of improvement was manifested evenly throughout the country. PHONE ISSUE PLANNED. NEW YORK, May 17 (#).—The New York Telephone Co. has asked the Public Service Commission for au- thority to issue $25,000,000 of 3)4 per cent refunding mortgage bonds in order to redeem by July 15 at 110 a like amount of 62 per cent cumulative preferred stock. FINANCING TO INCREASE. NEW YORK, May 17 (#).—New financing scheduled for this week by 117 municipalities totals $19,383,605, compared with the revised total of $10,708,500 for last week, accord- ing to the Daily Bond Buyer. Weekly average of new offerings for the year to date stands at $32,138,023. Continental Oil. Midcontinent Pe- troleum, Pullman, American Loco- motive, Santa Fe, New York Cen- tral, Loew's, Otis Elevator, National Supply and Newport Industries. Resistant were General Foods. Na- tional Cash Register, Eastman Kodak, Woolworth, Philip Morris, Southern Railway and American Steel Found- ries. Ao CHICAGO GRAIN By the Associated Press. CHICAGO, May 17.—Wheat seored advances of more than 11, cents a bushel late today owing somewhat to | a decrease of 2,280,000 bushels in the United States visible supply. | The decrease reduced domestic | stocks in sight to 18,337,000 bushels. 120% 1204 + 4 | This compares with 31,649,000 bushels a year ago. At the close, wheat was % off to 113 up, May, 1.27%-%; July, 1.18-1.1814; corn unchanged to an advance of 2'g cents; May, 132':: July, 1.19's-l, and oats unchsngcd to 34 higher Chicago Cash Market. Cash wheat, No. 1 hard, 1.34; No. 2 hard, 1.32; corn, No. 3 mixed, 1.36':; No. 2 yellow, 136'>; No. 3 yellow, 1.36';; No. 3 white, 1.36'2; No. 4 white, 1.34; oats. No. 2 white, 55'.~ 5612; No. 3 white, 53-54!4: rye, No. 2, 1.1715-181%; barley, No. 1 Illinois, 1.25 No. 3 Illinois, 1.15-2: feed, 70-85 nominal; malting, 1.00-28 nominal; timothy seed, 4.25-50 hundredweight; clover seed, 23.00-30.00 hundred- weight. Winniper_ Prices. . AVINNIPEG. May 17 P —Grain range today: Previous Close Northern N ia u~ 0.2 white, 55’.‘ N white. Baltimore Quotations. ., BALTIMORE. May 17 (/.—Wheat. Nn. red Winter. carlicky, spot domestic T36%5: My, Tashh INSURANCE SHARES GO T0 NEW LOW FOR 1937 Apecial Dispatch to The Star. NEW YORK, May 17—Insurance stocks in the New York City market reacted sharply during the last week and closed at a new low for the year, according to records compiled by Hoit, Rose & Troster. The aggregate value of 20 leading fire and casualty insurance issues on May 14 totaled $578,556,000 (the new low), which compares with $602,664, 000 at the close of the previous week, a decrease of $24,108,000, or 4 per cent. The current average yield of the 20 issues of 3.92 per cent compares with a yield of 3.76 per cent on May 7. The current market value equals 92 per cent of the current liquidating value against 96 per cent a week ago. o Greene Cananea Copper Co.~= March quarter common share earn= ings before depletion were §1.16.