Evening Star Newspaper, May 19, 1937, Page 17

FINANCIAL. " GURB LIST MIXED AS VOLUME LAGS A. & P. Shares Go Down Nearly 6 Points Due to Decision. By the Assoclated Press. NEW YORK, May 19.—Prices swung irresolutely in the curb market today, where light dealings left many shares untraded. Great Atlantic & Pacific was one of the heaviest losers late in the ses- sion, dropping nearly 6 points as holders showed nervousness over con- sequences of the Supreme Court's ap- proval of the Louisiana chain store tax. Gulf Oil lost more than a point and Aluminum Co. was off about 2. Labor problems added to uncertainty over Aluminum'’s outlook. Moving higher were Carrier Corp, Great Northern Paper and Techni- color, each up a point or more, and @reole Petroleum, up a major fraction. Stock Seat Price Equals 1937 Low At $96.000 Level By the Assoclated Press. NEW YORK, May 19.—Arrange- ments were made today to sell a mem- bership in the New York Stock Ex- change at $96,000, equaling the low for this year. Price was unchanged from the previous sale. The last occasion on which a seat #old at a lower price was December a1, When the transaction was at $89,000, the low for 1936. The highest price this year for a Mmembership was $134,000 on Janu- ary 8. BALDWIN CALLS VOTE ON CHANGES IN STOCK By the Associated Press. NEW YORK, May 19.—Baldwin Locomotive Works today called a &pecial meeting of stockholders for June 15 to increase and reclassify the | authorized capital stock. Under the plan there would be 125, 251 shares of 7 per cent cumulative preferred of $30 par value and 3.000, . 00 shares of common of $13 par value. Shareholders also will be asked to increase the company’s authroized indebtedness to $33,676,000. o SUGAR DIVIDEND VOTED. NEW YORK. M (P)—Di- rectors of Cuban-American Sugar Co. * declared a dividend of $2.50 on the preferred stock, payable June 30 to stock of record June 15. A s'milar payment May 15 was the first distri- | bution on the stock since 1929. CURB BONDS DOMESTIC BONDS. High, Low. 1007 100 an 1:00. 100 o Ala Power 2la Power s 9 Ak Power 5 THE EVEN NEW YORK CURB MARKET By private wire direct to the Star. All time shown below is daylight saving on which the Exchange is now operating. 3:30 Stock and loa— Dividend Rate. Add 00. Air DeviceCorp . 1 Alabam Pw pf (7) 10s Alum’'n Co of Am 7508 Alum (Am) pf (6) 200s Alumn Goods b25e 1 Aluminum Ltd .. 200s Am Atrlines. fna. 1 Am Book Co (4) 10s Am Box B'd(bi3c) 6 Am Centrifugal 6 Am Cit P&L (A) 3 508 Am CItP&L Ba20e 2 Am Cynam B t60c 14 Am & For Pw ww. 1 AmG&E (1.40)__. 6 Am G&E pf (6)___ 175s Am Gen C'p (8500} 2 Am Gen Cpf (2)_. 60s Am L &T (11.20). 8 Am Mfg Co (a8)._. 25s Am Maracaibo I Am Pot & Ch a2%. 50s Am Superpower _ 28 Am Superpwr pf_. Anchor Post FF____ Angostura (120¢) Ashland O&R t400 Arcturus Radio T. Ark NatGas ____ Ark NatGcupf__. Ark Nat Gas (A).. AssOG& E (A) .. Ass0G & E $6 nf Atl Coast Fis b36e Atias Corp war _ Atlas Plyw'd (1%} Austin Stiver _ Auto Products___. Auto Vot Mch 50¢ Babcox & Wil (4). Bardstown Dist__. Barium Stain 8tl Rarlow&S(A)1.20 Ba'n L7%1st pfa? Beaunit M (hilc)_ Beaunit M cv pL _. Bellanca Atrcraft. Berkey&Gay F Co Berk&GF pur war Bliss Co (E W) Blue Ridge (b15c) | Blue Ridge cv pt 3 Blumenthal 8§ Bourjols (a76c) Bowman- Biltm Brazil TL&P b90c. Brill Corp (A) . Brill Corp (B).. Brill Corp pt.__._ Brown Co pt Brown F&W b30c. But N& I f 160 Bunker H&Sull n_. | Burma Ltd b16%sc Cables&Wirel'ss A Cables&Wirel'ss B | Calamba Sug 11.60 Can Hydr k& 18t pt “an Lndus Alco A Can Marconi Carnation Co (1 Carnegie Meta. “arrier Corp | Catlin Corp (a40c) Cen Hud G&E 80c 1t Ohio Stl bi0c | Cent P& Lt 7% pt (b3.06%) ___. Cent& S W Uil | Cent States Elec Chesebrough (t4) Chi Flex Shaft (4) Chi Riv&M b3oc._. Chief Con Mining_ Chlids Co pt | Cittes Service Clties Service pf City Auto S(160c | Claude Neon Lts Colon Dev Ltd Colon Dev 6% D! Colo Fuel&!r war. Celts PFA b37%¢ ol GEE cv pf(5) . Columb O&G b2uc. Com with & S war Community PS t1 Compo S M ste t1. Cons Alrcraft ___ Consol Copper C GELt&P Bo 3.60 Cons G Bo pf A(5) | Consol Gas Util _ | Con Ret Strs new | Consol Ret S pf(8) | Consol Steel Corp | Cont'l GEE pr pt 7 Cont’l Roll & 8§ Fy High. Low. Close. 2! 2% 1“2 69} 1454 42 3| Cooper Bessemer_ 7.0 003 o900 > Bon . 9RI% Onis 10034 1005 10038 K41z 8413 R41p Georgia Pw a4 Glen Alden C1 4 Gobel Inc 415 41 A Grand Tr We 45 ' Towa_ Pub ‘&v Jer CP &L Kentucky Ut Potomac E 4 125 61 Pub Ser s >nnnm S gz g0 i 2 x5y PR TS waEgeey £ @@ ZRRRRRS Q000002 qa'. IS o @ F5an g 4 D83y 90" 9R3) @ 10535 10513 04, s 04 D 5izs 52 Utah P & L 4155 /44 Va Pub S 5iys ‘46 A__ Wash Gas Li 58 West T Ut 5 A We U GKE 5125 '55 A~ 10314 105 105 Wis-Min L & P 5 44 106% 106% 108% FOREIGN BONDS. 181 1R 1RY% 100 100 55 55 15 5% o = 7 3 Al 9% A it arrants. Without warra; Tr—With 5. D _New. st (stp)—Stamped. Negotiability impaired by maturity. ,Cnnunl- Teporied in receivership. [ Copperweld 71.20_. Cord Corp Z Corroon & Reyn__. | Cosden O1l Me (4) | Creole Petrol t50¢. | Crocker-wh aloc_ | Croft Brewing.___. Crown Cent P afe Cro'n C'k Int A(1). Crown Dr (b2Uc) - Crown Drug nf 1% Cuban Tobacco. __ Cusi Mex Mining. Dayton Rubber__. Dennison 7% pf-.. Derby O1l & Ref __ Detroit Gr I new__ Det Fap Prod 1250 Domin S&C (B) Driver Har pf (7). Duro Test (46c)__. Duval Tex 8a300- Kag Pit Lead bl0c. & East'n G&F Asso. 38 Estn G&F As pf 3.150s East G&F pof 4% 28 Easy W M(B)b25e Eisler Elec (asc)_ Elec Bond & Share Elec B& S pt (6)_. Klectrol Inc v.t.e... Emp G&F 6% pf Emp G&F 6% % pt Equity Corp(azsc) Burop'n El bd rts. Evans Wall Lead_ Evans Wall L pt _ Ex-Cell-O (b20e)_. Faircnild Av albc Falstaff Br (31%). Fanny Farm C(1) Ferro Enam b73c.. Fidello Brewery __ Fisk Rubber Fisk Rub pf (8)__ 25s Fla P & L ot - 8508 | Ford Lta (h21¢) __ 2 Franklin Ray a60c Gen Alloys . Gen Firepr'f b25e- Gen Invest Corp - Gen Tire& Rub . § Gen T&R pf A (6) 108 Georgia Pw pf (6) 508 Gilbert(AC)pf 3% 408 Glen AldenC (t1) 1 Godchaux 8 A b2_ 1508 Godcnaux S pf(7) 80s Gorham Mfvtetl 1 Grang Natl Films 10 Gray Tel P8 (1) d Grt A&PT o v 16 170+ Grt A&PT 1st pf 7 10s Great Nor Pap t1_ 60e Greenfield T & D 3 Guif 01l (Pa) b26o Hall Lamp (80c)_. Hartman Tobacco. Hat Corp (B) 80c. Hearn Dep 8 b1.65 Hecla Mining b45c Helena Rubenst'n Heller pf ww 1% _ Hollinger (t65c) . Hud BM & Sb75¢c. Humble Ofl (1) HuylersDpf st(d) Illinois Iowa Pow. Il Iowa Pw pf 2% 111 Jowa Pw d ctfs. 1mp O11 Litd t6vo IT GtB&I b84%c. Ind Pipe Line b30c 2 Indiana S8vc 6%pf 30s 22 Indus Fin 1% pt . 60s Ins Co of No A #2 200s Intl Petrolm t1%._ 11 intl Produets 1 Intl Radio (b25c)- int} Uty (B) Int] Vitamin(60¢) Interst P(Del)pt._ Jacobs(FL)Cot1) Jones&Laugh 8tl. Ken RT&L A a78e Kingsbury Brew _. Kingston Prod ¢0e Kirby Petrol (20c) Lake Sh M (14) _. Lakey Fy & Mach. Leh Coal &N 30c_. Leonard Of1 . Lion Of! Ret ( Locke 8t1 Ch t30c.. Lockheed Atrcrafs A 2 1 . 2 % 85 . e g SR o P T 1 3 1 1 5 2 1 1 2 5 1 808 1 3 3 80s 1 1] 7 » 4 13 3 9% 14% 101 2 2% 3 L 818 5 annbE emnaera 3u.ll 8 134 21 § | Oldetyme Distil ¢ | Param’t Motors 2:30 Stock and Bales— Dividend Rate. Add 00. Lone Star Gas 800 11 Long (sland Ltx . Louis'a Land 40c_. McCord Rad (B)__ McWilllams D (13 Marion Steam Sh Mass Util Assocla. Massey Harris ._ Master Elec (1) __ Merritt C&Spf A Mesabi ron Mich Bumper_. Mich Gas & Of1 M1d Sta Pet (A) _ Mid Sta Pet vtc B_ Mid-W Abras aioc Midwest O11 (11)_. Molybdenum Corp Montr HLt&P 13 5508 Moody’'s nt pf (3)_ 26s MountCCpa2le.. 2 Mount Prod (60c). 2 Nat BakingCo __. 2 Nat Bellas Hess _ 11 Nat Bd&Sh (b50c) 50s Nat Container (1) 2 Nat Fuel Gas (1) 10 Nat Leather 1 Nat P& Lt pf (6) 100s Nat Rub Mch a200 2 Nat Service = Nat Sugar N J (2) Natl Transit bé5c. Nat Union Radto_ Nebel (Oscar) Nebr Pwr pf (7) NeptuneM(A)a60o Nestle Le-Mur New Jer Zing (t2) 100, New M&A Ldalc Newmont Min b76¢ N Y Merch (80c) .. N Y Shipbldg . N Y Tel pf (6%) Niag Hud Pwr new Niag H P(A) war Niag HP 1st pf 5. Niag Sh Md B a60e Niles-B-P'd bi0c_. Nipissing (5uc) Noma Elec (b40c) North Am L & P N High. Low. Closs. k4 10% 11 3 3k 12 1K 734 2 18% 3 12 25 * e BNRENNE LN 00 18% % 26% u% 244 1 50 109% 157% 13 6% 2% 105 13% 8 2 L 1 1 1 . 1 1 . 2 1 1 1 126 17 2 1008 2 2 1y 12 111y 124 Cent T Oalse North n Europ 01 Northern P L 75¢c-. North States P A Nor Tex El1 6% pf. Ohio Brass B bTse. Ohto Ofl cu pt (6). Ohto Pwr pt (6)_. Okla Nat:Gas 2 Okla Nat Gas pf__ 1008 2 PacG&E Istpf 135, 1 facific Pwr&Ltpf 108 Pan-Am AIr (t1)_ 3 Pantepec Of] 822 S | Pennroad (azbe)_. 11 Penn G&E (A)114 2 Penna P&L pt (1) 2008 Penna Salt (b1%) o0s Penn Wat & P (4) 1 Pepperell Mfg 16 75s Phoenix Secur Pierce Gov (b15c) Pionecr Gold (40c; | Pitney Bow(140¢c) Plough Inc (1.20)- Potrero Sugar _ Powdrell&Al 600 Premier Gold t120 Producers Corp _ 1 Prudent'l Inv a506 Pub Sve Ind pr pt 80» Pug Sd P&L pf b5. 768 Pug Sd P&L $6 Df 275 Quaker Oats (5)__ Rainbow Lum (A) Raym’'d Cone (t1) Reiter-Foster . _ Reynolds Invest { Root Petrolm b23c | Rossta (ntl Corp 15 Royal Type b750_. 1008 Rustless (r&Stl St Anthony Gola_. 9 St Regis Paper 16 St Regis Paper of 26s Scovill Mfg (b50c)2508 Seral Lock & H 3 Selby Shoe (1.60)_260s Selected Indus 1 Sel Ind all cfs 6% 3850¢ Sel Ind pr pf (53 )200s Sent Saf Control _ 1 Seversky Alrcraft 2 Shattuck Den Min 18 Shawin W& P80o 1 Sherwin W pf (5). 10s Simmons HO& P. 2 Singer Mfg Ltd rcts (a28 4-5¢) .. Sonctone C (a10¢) Southl'd Roy bl0c. Spencer Ch S b75¢ Stand Cap&sS t1.60 Stand O1l Ky (t1). Stand Oil Ohto t1_ Stand Pwr & Lt _. Stand P& L (B) ._ Stand S11&L4 (4¢) Starrett Corp vte Sterl Alum (b25¢) Sterl'g Brew a Sterling, Inc t20c. Stinnes(Huzo) d_. Stroock & Co (2) Sullivan Machin, Sunray Oil (b5c) _.. Sunshine Min (3). Swan Finch_ Taggart Corp___.. ‘Tastyeast(Del)A. Taylor Dist (30¢). Technicolor 50 Texon O1) & L 60 Tilo Roof Ine (1)- Tob Prod Exp 150. Todd Shipyd (12) ‘Toledo Edis pf (6) Tonopah M (aée)_ Tr-iLux DPS t20e. Transwest Oil Co_. Tr1-Contl C war _ Tubize Chatillion_ Tung-Sol Lamp__. Ulen & Co 7% % bt United Corp war.. Unit Gas Corp Utd Gas war ____ Unit Lt&Pwr pf A. Ut P&L pf b375c. Unit Prof Sh alue Unit Shipyards A Unit Shipyds i Unit Shoe M 123 . U S Fotl (B) (1) . U S Play Cards t1 U S Radiator ___ Unit Verde £x (1) Unit Wall Paper _ Univ Corp'n v.t.c.. Utllities P & L (4) Utl P& L pf (d) 2508 Utility Eq pf balg 608 Utllities Indust’). 8 Venezuela Mex O_ Venezuela Petrol.. Wahl Company.__.. Walker Mining Wayne Pump b1 Well't'n Ol of Del Wnatwth Mg bléc West Tex Ut pf(6) W Va Coal & Coke Westn Au S b40c Wil-low Cafetert Wil-low Cafe pt _ Woodley Pet t40c.. Wright Harg t400 Ygstn Steel Db1% Yukon Gold(al3c) 2% Dividend rates tn dollars based en quarterly or semi-annual payment. nual rate—not including extras cumulated dends. a bankruptey of being reorganised act. or securities assumed vazies 3% 114 a1 7234 3315 my 115 46y 1234 8214 my % 40}¢ 1 134 5% 22 114 % 405 it 14 61§ 5 0% 1% 1% 5% ¥ 105 1 ¥ 105 u R 8% 102 40% 23§ 22 ¥ 105 pUES 834 255 100% 9834 3 4% 17 263§ 110 09 1009 19 0 1 00 = 59 4 1 00 G =3 e =3 09 00 9 N8 OV 3 CYS T oo 38 e » S n e [IOTS -3 TV 08 T PR o a 2 1 2 12 i 3 808 1 . 2 1 3 L3 1 L) 2 1ast HEADS REITER-FOSTER OIL. NEW YORK, May 19 (Special) —J. M. Campbell, formerly vice president ! ¥’ of the Alpha Petroleum Co. and presi- dent of the Malta Ofl Co., has been elected president of the Reiter-Foster Oil Corp. of Tulsa, Okla. Campbell % | succeeds James G. Lyons, who is re- tiring to devote himself to his private interests, ASSOCIATION OUTPUT UP. NEW YORK, May 19 (P).—As- socisted Gas & Electric System re- ported for the week ended May 14 net electric output totaled 86,768,008 kilowatt hours, an increase of 14.6 per oent over the like 1936 period, \ | 69.95 Commercial Co. Earnings Total $501,773, Against $617,778 in 1936. By the Associated Press. NEW YORK, May 19.—Commercial Solvents Corp. reported March quarter net profit of $501,773, equal to 19 cents a share on capital stock, against $617,- 778, or 23 cents a share, in March quarter last year. The company, a manufacturer of pigments and other chemical products, has plants in Louisiana, Indiana, Il- linois and California. U. 8. Leather Co. United States Leather Co. reported for quarter ended April 30 net profit of $445,625, equal after dividend re- quirements on 7 per cent preferred stock and on the $4 non-cumulative class “A” stock, to 27 cents a share on the common. This compared with $256,873, or 57 cents a share, on the class “A” stock in the April quarter last year. For six months ended April 30 net profit was equal to $2 a share on class “A” stock, against 43 cents a share of class “A” stock in the like period last year. Company declared a dividend of $3.75 on account of accumulations on the T per cent preferred stock, payable July 1 to stock of record June 10. On April 1 company paid $1.75 on account of accumulations. Pioneer Gold Mines, Pioneer Gold Mines of Btitish Co- lumbia, Ltd., reported for fiscal year ended March 31 net profit of $914,529, equal to 52 cents a share on capital stock, against $1,500,986, or 85 cents a share, in preceding year. Commercial Alcohol. American Commercial Alcohol Corp. reported for the March quarter net income of $199,768, before the undis- tributed profits tax, equal to 76 cents a capital share. This compares with $161.149. or 62 cents a share, iu the like 1936 period. Deductions for un- realized profits on sales, subject to deferred delivery, amounted to $61,000 and $149,000 for the respective quarters. Porto Rican American. Porto Rican American Tobacco Co. reported for the March quarter a net loss of $103.827, exclusive of the pro- portionate net loss of its subsidiary, Congress Cigar' Co., Inc. This com- pares with a net loss of $106.074 on the same basis in the like 1936 quar- ter. The company has headquarters at Newark, N, J. L. A. Young Spring. L. A. Young Spring & Wire Corp. reported for the first quarter con- solidated net income of $483,363, equal to $1.18 a share on the common, compared with 8427247, or $1.04 a share, in the like 1936 period. The company has plants throughout the | country and headquarters at Detroit. —_— DOLLAR MOVES HIGHER IN LONDON DEALINGS By the Associated Press. LONDON, May 19.—United States dollars gained one-fourth of a cent on trade buying in the foreign exchange market today and closed 4.94'; to the pound. This contrasted with the overnight New York rate of 4.94'4 for sterling. French francs were quoted 110.66 to the pound at the close, against 110.44 yesterday. PARIS, May 19 (P)—Rentes, 3 per cent, 64 francs 15 centimes; 428 “A,” 4125 of 1937, 94.00. Exchange on London, 110.70. dollar was quoted at 22.411,, . HEAVY STEEL SCRAP LOWER AT PITTSBURGH By the Associated Press. NEW YORK, May 19.—A reduction of $1 a ton in the price of No. 1 heavy melting steel scrap at Pittsburgh was reported today in & dispatch to Dow, Jones & Co. The new quotations were $18.50 to $19, a decline of $5 from the peak touched early in March after scrap had risen to the highest in 12 years, UNITED VERDE MINING ORDERS $1 DIVIDEND By the Assoctated Press. NEW YORK, May 19.—United Verde Extension Mining Co. announced today a dividend of $1, payable June 30 to stock of record June 4. The previous dividend of 25 cents was paid on De- cember 15, 1936. The company oper- ates copper properties in Arizona. Washington Exchange SALES. Capital Traction 55—$500 at 90. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer. Tel. & Tel. 4 Anacost % Abacostia, & Pot. bs The MISCELLANEOUS. Col. Country Club 5135 34| V- M. Cold storage PUBLIC UTILITY. Amer. Tel. & Tel, (). apital Transit Co.. & W. Bot: 3 5% Wain. Gas Lt Co Wash. Ry. & EI Bra ( ash. Loan & American (6) Corcoran (3) Firemen's_(1.60) National Union (.60) ~ Columbia (.30) Real Estate (6) 1%% 1036 idend. . (e) 3% extra. (i o 8¢ (*%) “YoaD (5% S Dty rtment Store Sales in the United States as Reported by the Federal Reserve Board vol . The 19201521 decline amounting| lasted 99 20 2 ‘2’ B U 1923.1925=100 ANCIAL The Decline i | from the Peak Lasted 45 | W He E Pl asiied | 1 LA Figures are corrected for seasonality and therefore show changes| in business irrespective of season 27 ‘28 (rorren 1307 B e s P ) g ‘25 2% OUTLOOK BETTER AT STEEL PLANTS Large Part of Backlogs to Be Carried Over Into Third Quarter. By the Associated Press. NEW YORK, May 19.—Barring possible strikes in some independent |Derg. crate, 1.5024.00; Southern, Big plants, the steel outlook 15 wviewed more hopefully than was possible a few weeks ago, when new business volume began to decline, Iron Age said today in the weekly review of the industry. “The drop in new business has not been precipitate, sales of most major producers having been around 75 per cgnt of shipments so far this month,” the trade journal said. “In some products, notably plates for railroad equipment and pipe lines, nev. bu: ness of substantial amount has been placed, tion steel in early prospect. Thus, it now appears that a good portion of existing backiogs will be carried over into the third quarter, which will help to sustain operations at a high rate at least through July. “Strike threats against thrce or four indeperdent companies have ap- peared more realistic in view of the two-day shutdown last week at the Jones & Laughlin Steel Corp. plants in Pittsburgh and have caused some buyers to urge mills to hasten ship- ments, particularly sheets. “With the resumption of opera- tions by Jones & rate in effect previous to the strike, the industry is estimated to be pro- | ducing ingots this week at 92 per cent of capacity. “Steel scrap prices have declined still further, reducing the Iron Age composite to $17.92, or back to the low point of the year of January 4 last.” INVESTING COMPANIES NEW YORK May 18 (P.—New York Security Dealers' Association (Noon quotations.) Admin Fd 2nd Inc _ Am Business Shrs Am Gev Eq Inc _ Am Ins Stocks Bancamer Bl Banikers N d Corporate Trust Corporate Trust AA ¢ A d Cumuiative Tr 8h Depos Bk Sh N Y A xd _ Depos Ins Shrs A Depos Ins Shrs B Diversified Tr C Dividend Shrs Eauity Corp $3 of Eudelity Fund Inc 2 - et H=TS ] 2 EY Gen Investors Tr. Group Sec Agriculture’ Group Bec Automobile __ Group Sec Building Group Bec Chemical Group Bec Food _ _ Group Sec Invest Shri Group Group Group Group Groun Sec Steel _ Group Sec Tobacco_ Huron Holding - Incorp Investors Inst] Sec: Bank Group_. Instl Sec: Insurance _ Investo 5 s R MDD DI I | o MEFETRER SN 3323 dw o pam omBRS BRmr’ s 1= aDDA AWID ONDE %I53333 B h. 5 N ¥ Stocks. Bk Stocks _ N ¥ Stocks. Blde Supply ¥ Stocks. Elec Eauip Y Stock: Stoc Stock Stocks Nor Am Tr Sh 1 Nor Am Tr_Sh 1958 Plymoutn Fund Inc Quarterly Income Sh Selecred Am 8h T Wellington Fund SHORT-TERM SECURITIES.’ (Reported by Chas. D. Barney & Co.) m. Tel. & Tel. 53s. " Auburn Auto Co. 43 ald._Lo. Works bs, '40 ‘al. Pack. Corp. Caro.. Clinch. & Ches.’ & Ohio R: Edis.’ Elec. Ilu. Gen_ Pb. Bvc. a8, Bs. Tacieas oes Slent e Lehieh Val. Coal 85 SFS 5 R ds, . 'R.R.of N_J. Bs. M & Nor R, R, 435 99 NY.C & 8L L. 6% notes. ‘38 5, '3 298 York Dock 58 'nna. R. R. i B0 Gen relc® Fei e 417108 o B Thel L 415 39 Warner Bros. West. N. Y. & Wes. Union Tel MONEY MARKET. May 19 _(P.—Call money 1 gy c‘eg?‘-u av: “prime Sommercipl aver 1 Der cent time loang steady: 60 Bani acceptances unchanged: redip- umn?‘f:h. New York Reserve Bank. l‘gfi ver Months; April sales were largest for the month since 1931 Baltimore Markets erecial Dispatch to The Btar. BALTIMORE, Md, May 19.—Po- tatoes, old, 100-pound sack, 1.25a1.90; new, barrel, 2.50a4.25; 100-pound sack, 1.40a2.50; sweet potatose, bush- el, 1.00a1.50; yams, bushel, 75a1.00; asparagus, crate, 1.25a4.00; beans, bushel, 1.50a3.25; beets, crate, 2.50a 2.60; cabbage, pointed type, hamper, 65a1.25; carrots, crate, 2.75a4.00; cauliflower, crate, 2.00; celery, crate, 1.75a2.50; cucumbers, bushel, 3.00a 4.50; eggplants, crate, 2.00a3.00; bush- el, 1.00a1.50; lettuce, Western Ice- Boston, hamper, 50a1.25; Lima beans, bushel, 2.00a3.50; mushrooms, 4-quart basket, 40a90; onions, 50-pound sack, 11.00a1.75; peas, bushel, 1.25a2.15; pep- | pers, crate, 1.75a3.00; bushel, 1.25a with considerable construc- | Laughlin at the | 2.00; radishes. nearby red tips, bunch, lally; rhubarb, nearby, bunch, 2a4; spinach, nearby, bushel, 30a50; squash, bushel, 1.50a1.75: tomatoes, | lug. 75a350; apples, bushel, 1.50a 12.50; box, 2.50a2.65; grapefruit, box, 2.00a3.25; oranges box, 2.00a4.50; strawberries, quart, 6a12’;. Dairy Market. Poultry — Live poultry, broilers, Rocks, pound. 24a25; mixed colors, [ 23a24; Leghorns, 20a22; fowl, Rocks, | 19a20; mixed colors, 18a19; Leghorns, 15a17; roosters, 10al2; ducks, 15a17. Eggs—Current receipts, dozen, 19 hennery, whites, large, 20'z; medium, {1912, Receipts, 1,849 cases | Butter—Prints, pound, 34'2a35!,; good to fancy creamery, 33a34: pack- |ing stock, 16a17; rolls, 19a23. Re- | ceipts, 1,098 tubs. Live Stock Market. Cattle—175; sales top, medium and | | low good grades, 1.000 to 1,100 pounds | | steers, around 10.50; steady; cows, | mostly 25 cents higher than Tuesday and 50 cents above Monday: good ! grades scarce: odd head to 8.00 or | above; plain and medium grades, 6.50 a7.50; bulk, low cutters and cutters, 4.75a6.25. Calves—75; vealers steady with for- mer sessions this week; good grades, 10.00a10.50 mostly; plain and medium, 7.50a9.50; culls, down to 6.00 or below. Hogs, 400; demand broad at mostly 35 cents higher prices than Tuesday on early rounds today and strong to higher tendency than early at mid- session: good and choice 170 to 210 pounds, 11.85a12.10; early top, 12.10; pounds from 11.60a11.85; weights down to 11.00 or below: 120 w0 140 pound weights, 10.75a11.25: good | packing sows, 10.00a10.25: hogs from doubtful areas not represented in above prices. Sheep, 275; generally steady with Tuesday: good and choice grades Spring lambs, mainly from 69 to 78 pounds, 13.50a14.25; railroad deck choice closely sorted on shipping ac- count, 14.35; most plain and medium throwouts, 9.50a12.00; virtually no other classes on offer. Sea Food Market. Catfish. pound, 3a5; dressed, 7a8; carp, 2a3; eels, 9a10; haddock, 8a10; herring, 3a4: mackerel, 8; rock, 10a 12; white perch, 6a8; yellow, 8a10; trout, 5a6; bluefish, 8a10; flounders, 12a15; croakers, 4a5; spots, 4a5; hard- head, 4a5; butter fish, 5a6; roe shad, 20a22; split shad, 15a18; buck shad, 15a18; soft crabs, dozen, 70a1.35; hard crabs, barrel, 3.50a4.50; crab meat, pound, 25a45; shrimp, 15a18; clams, large, 100, 90; Cherrystones, 60a65; Little Necks, 50a55; frogs, each, 15. Tobacco Market. Quotations on old stock—Maryland firm leaf, nondescript, 3a4; common, 4a10; medium, 10a30; good to fine, red, 30a40; seconds, common, 3a7; medium, good to fine, 15a35. Grain Market. Opening prices were: Wheat, No. 2 red Winter, garlicky, spot domestic, 1.421>; May delivery, 1421;. Settling prices were: Wheat, No, 2 red Winter, garlicky, spot domestic, 1.42!2; May delivery, 1.4215. Corn, No. 2 yellow, domestic, 1.25; Western delivery at & premium over this price. Cob corn nominal. Oats, No. 2 white, domestic, 64a74; No. 3, 63a73; except grain on track, there is an additional charge of 1% cents per bushel for storage and ele- vation on all sales of oats. Rye, No. 2, 1.30a1.35. Barley, 93a98 Hay—Market holds steady to firm under a good demand for timothy and clover mixed at 17.00a22.00 per ton, but it takes well-graded No. 1 stock to bring the price. Poorer grades hard to sell and market irregular on all grades below No. 3 stock. o HOLDERS APPROVE PLAN OF WORTHINGTON PUMP By the Associated Press. NEW YORK, May 19.—Stockholders of Worthington Pump & Machinery Corp. approved today its proposed plan of recapitalization by a vote of more than two-thirds of each class of stock. Each share of present class “A” preferred stock, 7 per cent, will receive 112 shares of convertible 42 per oent prior preferred and a like amount of non-convetible 41, per cent preferred, plus 1% common shares. Present class “B” 6 per cent preferred will receive 14 share each of the con- vertible and non-convertible stock and % of & share of common. heavy BOSTON WOOL MARKET. JOSTON. M (# (U. 8. artment e Y g flons Continted o, show easing tendencies 220 to 250 pounds and 140 to 160> A &P. IS SILENT ONTAX DECISION New Policies Held Likely as Result of Supreme Court Ruling. By the Assoclated Press. ELECTRIC POWER OUTPUT CLIMBS Week’s Small Gain Lifts Total 12.8 Per Cent Above Year Ago. By the Assoctated Press. NEW YORK, May 19.—Production of electricity in the United States for | the week ended May 15 was placed at 2,194,620,000 kilowatt-hours by the Edison Electric Institute today. This represents an advance of .8 of 1 per | cent over last week's production of 12,176,383,000 kilowatt-hours and an | increase of 12.8 per cent over 1,947, | 771-000 kilowatt-hours in the same | week a year ago. The seasonal upturn left the Asso- ciated Press index of power produce tion, with 1929-30 taken as 100, une changed for the same week at 118.1, compared with 1078 in 1936. The ine | dex is adjusted for seasonal and longe term trend. The range for recent years follows: 1937. 1936. 1935. 1934. 1933, High 119.0 119.8 1055 974 919 Low -116.3 1020 941 919 80.2 The institute reported the follow ng percentage increases in the major geographical regions of the country: New England, 14.2; Middle Atlantic, 11.0; central industrial, 14.9; West Central, 6.3; Southern States, 16.2; Rocky Mountain, 24.38; Pacific Coast, 42, INSURANCE—S_TOCKS NEW YORK. May 10 8ecurity Dealers' Associ: Aetna Cas (2a) _ Aetna Tns (1:60) Aetna Life (.R0a) Am Equit (1'+va) Am Reins (40g) P —New York tion lantic & Pacific Tea Co. officials con- tinued silent today on the company's plans for meeting the Louisiana chain store tax, upheld by the Supreme Court, but it was indicated new poli- cies might be adopted in the near fu- ture, The decision in the Louisiana case, supporting the right of the State to tax chain store systems on the basis of total number of stores, rather than the number operated within the State, was likely, it was said, to speed up plans for a readjustment of operations to avoid what the management con- siders burdensome State taxes. For some time the company has been experimenting with various plans in certain States to reduce tax liability. In parts of the West some stores have | been sold to managers, with the com- pany serving as a wholesale distributor. Whether this movement would be ex- tended or whether the company would seek to get around the tax difficulty by closing a considerable number of per-markets” could be learned. stock suffered another sharp decline It sold in small lots down to $89 a share, compared with yesterday's clos- ing of $93.87. At this level it was off | about $8 a share since Monday and at a new low for 1937, — . U. 5. TREASURY NOTES. NEW YORK. May 19 (P.—Prices quoted in dollars and thirty-seconds: Per ADDrox. cent. Asked. yield. 101.3 June ' = September ‘38 March, ‘30 10 100 100.2 100 401 pictures of attractive homes, in price from $6,000 to $18,001 tive to: 1 Selecting architect NEW YORK, May 19.—Great At-| units and establishing so-called “su- | The company’s non-voting common | on the New York Curb Exchange today. | Am Reserve (1a) Am Surety (2 ‘Automob ¥ 020 Conn Gen Life (.80)- | Contin” Cas (1.20) | Fid & Dep (4) Frank Fire (1a) | Gen Reinsur ( Glen Falls (176012 Slobe & Rep (R0) Hartford Fire (1 Home Fire Sec Home Ins (1a) Homestead (1 Knickerbocker Lincoln Fire _ Marviand [T N'Hampehir N Y Fire (Roa) | Nor River (1) Phoenix (a) Prov Wash Revere (P) Rossia Ins In (1. T U 8 Fire (2) Westchester 5 2 a—Also extra or extras g—Declared or paid £0 far this vear. RAILWAY INCOME. NEW YORK_May 19 (7. —Net | ing “income (hefore fixed other incom for the mon A Compact, Complete Program of Full | INSURANCE May we advise you regarding your needs, and arrange a com- plete coverage all in one unified program? We handle all kinds of protective insurance. J. Blaise de Sibour and Company INSURANCE BROKERS 1700 Eye St. N.W. NAtL 4673 FREEBOOKLET Home Financing Phone, write or call for your copy of our free booklet showing many with floor plans, ranging 0, and giving information rela- Building your home for as little as 209, down (cash or lot). and builder. Planning a home within your means. along term F. H. A. This booklet, with v yours for FREDERICK Heurich Bldg., 7th and Mass. Ave,, N. W, Eighth and H Sts, N. E. 1 te ast week. e otations “were basd " iarsely _upon uy! .I.ll at which quantities i oot wers & REAL ESTATE LOANS on Improved Property Monthly Payment Loans or Straight Three Year Loans 5% INTEREST Consult Real Estate Department AMERICAN SECURITY AND TRUST COMPANY Main Office: ¥IFTEENTH ST. & PENNSYLVANIA AVE. Branch Offices Combining the first and second trusts into loan. Refinancing to lower interest charges. aluable information, is the asking W. BERENS 1627 K St. \.W. MORTGAGE LOANS Phones National 8280-8281 Mortgage loan correspondent for sir insurance companies. Seventh and E St., §. W, 1140 Fifteenth St., N. W. Member Federal Deposit Insurance Corporation Member Federal Reservs Systom