Evening Star Newspaper, May 24, 1937, Page 21

FINANCIAL. CURBLISTRULES | UNEVENTOLOWER Industrial Shares Down Minor Fractions—Few Oils Advance. 8 the Associated Press. NEW YORK, May 24.—Prices were uneven to lower in the curb market today, with light dealings restricting most swings to fractions. Industrial shares lost minor frac- tions, although several less active oils were up substantially late in the ses- sion. Red Bank Oil gained a major fraction, Swan Finch Oil jumped 2 points or so and Humble added more "than & point. Creole and Gulf also improved a bit. ‘Wayne Pump and Sherwin - Wil- liams, Lake Shore Mines, Electric Bond & Share and Pan-American Airways gave up fractions to a point or s0. Great Atlantic & Pacific and Montgomery Ward “A” also declined. Rayon Production At All-Time Peak In Southern Area By the Assoclated Press. NEW YORK, May 24.—Production of rayon in Southern Railway Co. territory in 1936 broke all previous | B! records, said Fairfax Harrison, presi- dent, in the company’s annual report issued today. He attributed the output increase to improvement in quality and to ris- ing demand for the fabric. Two man- ufacturers along the Southern’s lines made large additions to plants during the year. Harrison also reported there were 19,019,960 cotton spindles in place in growing States at the end of the year. These, he said, constituted 68.7 per cent of the installed cotton spinning machinery in the United States. Cotton consumption in the Southern States in 1936 rose 28.6 per cent over 1935, as compared with an in- crease of 11.8 per cent for the period in all other States, the executive said. N NEW PLANT OPENED. NEW YORK, May 24 (#)—Na- . tional Oil Products Co. announced the opening of its new $1,000,000 plant at Cedartown, Ga., which will make prod- ucts used in paper-milling, textile, leather and other Southern industries. National Oil Products has headquar- ters at Harrison, N. J, o BEER SALES INCREASE. NEW YORK, May 24 (#).—Sales of beer in April amounted to 4,507,000 barrels, a new high for the month since beer was legalized and 16 per cent above April last year, the United States Brewers' Association reported. CURB BONDS S50 TEoEERREY! 5 4 10812 108'2 108% 106%s 1061a 10615 s Emp Q& R mp 5 Firest Tire 5s 'lorida P & L 5. 4 atineau Pw b - 10034 1003 Ya: - B4, & 9312 Hygrade Fd 6s 7w &L 65 Il Pw & L 5s '56 Indian & M E bs private wire direct to the Star. All time shown below fs daylight saving on which the Exchange is new operating. 2:30 Btock and Sales— Dividend Rate. Add 00, Acme W vto (3)_. 508 Ainsw'th M Cb2bc 1 Air Device Corp...0 & Allled Prod(A)1% 1 Alum’'n Co of Am. 1508 Aluminum Ltd._. 183 18§ 16% 3 3 3§ 22 22 22 s M8 B 215 116 114 2y 226 2% 2 2% 2% 21 20% 204 Wod e ‘e 1Y 3% 234 214 22y 82 10 10 10 1095 1093 131 9% 19% 2 1y 1% 1% o 4 4 64 6% 3% 3 Am Beverag: Am Box B'd(b45c) Am Centrifugal __. Am CItP&L B a20e Am Cynam B t60c Am Gen C'p (a50c) Am G&E pf (6) Am Hard Rub(al) Am L &T (11.20). As30 Gas & Elec_ ' 1 ASS0G & E (A)_. |12 AssoG&ESSpf__ € 4 Asso Laundries__. g 1 Atl Coast Fis b3So [ 1 AtlasCorpwar.__ | 2 Atlas Plyw'd(1%) ({1 Austin Silve 2 Auto Product: .6 Auto Vot Mch S0c. 6 Axton-Fisher (A). 10s Bardstown Dist Barfum Stain St Bell Alrcraft.. Bellanca Afrer: Berkey&Gay F Co. Berk&GF pur war BliasCo (E W) _ 1 1age (bl5c) Blue Ridge cv pf 3 Bohack HC 1st pf_ 10s Bower RollB (2). 2 Brazil TL&P b30c. + 7 Breeze C Inca75c. [ 1 Brid'p't Mch b26o. ' 2 Bright Star El (B) Brill Corp (A) % Brit-A-T cu B b55¢ British Col Pow B. 50 Brown F&W b30c.. Brown Forman__. Bunker H&Sulln_.” Burry Biscuit___. & Cables&Wirel'ss A Can Hydr E 1st pt. 10 Can Marcon! . _ Carib Synd (b50 Carnegie Metals... Carrier Corp._ - Catlin Corp (a40c) Cent &8 W Utll_.. Cent States Elec_.. Cent St Elcvpf_.. 30s Centrif Pipe t40c 1 Cherry Burrell (4) 25s Chesebrough (t4) 50s Chi Flex Shaft (4) 50s Chief Con Mining- Childs Co pf . Cities SBervic Citles Service pf_. Cit Svc P&L $6 pf. 60s City Auto S(t60c). 8 Clark Con (b50c).. Claude Neon Lts Clev E Il lum(t2)- Clev Tractor-—_——. Club Aluminum... ¢ Colon Dev Ltd 6 Col G&E cv pf(5) -100s Columb O&G b20c. 14 Comwlth Edis t4_ Com’'wlth & 8 w: Community PS t1. ComSM sto vte t1. Consol Biscuit 60c Consol Copper. C GELt&P Bo 3.60 Consol Gas Util__. Consol Steel Corp. Cont’l Roll & S Fy Cook P & Var t600 Cooper Bessemer - Cooper Bess pr pf. Copper Rang: Cord Corp. - Cosden Ofl Me (4) Creole Petrol t50c. Crocker-Wh al0c. . i Hi ¥ % 13 11 1% 11K L 31 31 s ETONN 'S 803 78Y 804 14 IO ooy 118 683 1 8 84 oY% 513 t s 1 2 . a1 1 13 ki< 110% % 28 15% 65 = | JOPOY- o - LormmrnPeSmmemoama Cusi Mex Mining_. Darby Petr (50c). Dayton Rubber. De Hav Air b36% Derby Ol & Ket . _ Det (Mich) Stove_ Det Pap Prod t250. . Det Stl Prod b25c.. . Domin S8&C (B) _, Duro Test (40c) Duval Tex 8 a50c. Eag Pit Lead bl0c. East'n States Pwr. Eisler Elec (abc) .. Blec Bond & Share Elec B & 8 of (6) El Pwr Asgoc 2250 Klectrol Inc v.t.c.. Equity Corp(a25e) Evans Wall Lead Evans Wall L pf_. Fairchild Avalbe. Fanny Farm C(1). Fidelio Brewery __ Fire As(Phila.)t3. Fisk Rubber = __. Ford Ltd (b21c)-. Ford (Can) A (1). ¢ Gen Alloys Gen El Lta S B oo Mo 00 et s | Gen Firepr't b25c-. 1° 51 10415 1041 RRIp RR: 97 &5 -102 102 102 56 105% 108% 1053% T 6l%c 52 A 79% 79% 79% & Co 63’44 IMIst cod_ 50 50 50 nit JLaPu 65 75 7 WW—With warrants. Xw—Without warrants, n 5 t (stp)—Stamped. Yiveotiuniitcy mpaired by maturity. 3Campanies reported in receivership. e e VISIBLE GRAIN SUPPLY. NEW YORK, May 24 (#.—The visible supply of American grain shows Lthe following changes in bushels: ‘Wheat decreased 1,741,000; corn de- Creased 724,000; oats decreased 1,493,- 000; rye decreased 381,000; barley decreased 503,000, A e 4 Gen Invest Corp ._ Gen Rayon Ltd A_ Gen Teleph (b25c) Gen Tire & Rub . Glen Alden C (t1) Godchaux S A b2_. Godcnaux S pf(7). Goldfield Consol Gorham Mf vtc t1 Grand Natl Films. Gray Tel P8 (1) Grt A4 PTnD v t6 608 Grt A&PT 1st pf 71008 Great Nor Pap t1_ 50s Greenfleld T & D 1 Gulf Oil (Pa) b260 12 Hall Lamp (30c) ... Harvara Brewe: Hazeltine (b76c) 50s 108 100 % % % 2% 2% 2% 2 24 234 184 173 18} 95 9014 Ong 12236 12235 12214 0% 40% 4o 15 15 673 663 & 1 3 2 Heyden Ch (12) .. Horn & Har pf(5) 10s Hud Bay Min b75¢. 18 Humble Ofl (134). ¢ Illinois Iowa Pow. & Il lowa Pwdctfs. 1 Il Iowa Pwpf 2% 8 Illinois Zinc b25c.. 100s tmp O1) Ltd thuc 1 Indiana Svc 6%pf 808 InsCoof No A t2. 50s intl Hy El 8 cv of. Intl Petrolm t1%. Intl Produets . Intl Radio (b25c). Intl Util war new_ Int] Vitamin(50c) Interst P(Del)pf. 20s Iron Fire vto 1.20.100s 1 1 1 258 4034 107 22 9% 8 114 313 303 213 28% 66% 28 1tal Superpwr(A). Jacobs(FL)Co(1). Jeanette Glss a60o JerCen P&Lpf 6% Ken-RT&L b37% ¢ Kinsston Prod ¢Vo Kirby Petrol (20¢c) Kreuger Br (11)-. Lake Sh M (14)__. Lakey Fy & Mach. Lefcourt Realty... Leh Coal &N 30¢c.. Leonaraofl .. ___ Lion O11 Ref (1) Locke 8tl Ch t80c.. Lockheed Afrcraft Lone Star Gas 80¢ Long island Ltg.. Long | Lpf A(T) . Louis'a Land 40c... Lynch Corp (t2)._. McCord Rad (B) .. MoWilllams D (3 Majestic Ra&Tel Margay Ofl (a50c) Marion Steam 8h_. Massey Harris___. Master Elec (1) Mem Nat G (b10c) Merritt Chap & 8 Merritt C&Spt A Mesabi Iron. - [T T PYOTOTOTOTOR IO - U SR P YOPOp o o ] % Niag Hud Pwr new % | Niles-Bement (2). 3 | Pittabgh Forging. EW YORK CURB MARKET 2:30 Btock and Bales— Dividend Rate. Add 00. High, Low. Close. Mich Bumper___. 28 2 2 24 Mich Gas & Ofl __ 8% 8% Mich St1 T P b2bo. 12 12} Mich Sugar______§ 14 . 14 Mich Sugar pf.. Mid Sta Pet (A)-. MidStaPetvtcB. 82 14 Midwest O (11)_. 1 103¢ 1034 |10 Mining Co (Can).. W) 8} 83§ 8% Molybdsnum Corp.' 8 94 8 9% Mont Ward A (7)_ 70s 14134 14034 140} Monroe LS(A)320 1 3} 38§ 34 Mount CCpa2lc..t'2 12§ 12§ 12l§ Mount Prod (60c). 2 6 6 Mount St T&T(8). 41 144 14 2 2 56 Nat Baking Co._... 7 124 Bellas Hes: 124 165 % e 8% ks 124 1% L] 20s 141 1 44 2 b57% 12% 15% 7 gL e Nat Bd&Sh (b50c) 3008 Nat Container (1). Nat Fuel Gas (1) Nat Leather Nat Rub Mch a20 Nat Servi — Nat Service pf.__. Natl Transit bdbe- Nat Union Radio.. Navarro Oil (40c). New Jer Zing (12).100s New M&A Ldalo. _ 1 Newmont Min (3). § £ 107 NY Auctiona2fo. Q1 4 N Y Merch (80c).. " 1 18} N Y Tel pf (6% ). 258 22 -..,.-—.‘ epN N NN oN Niag HP(A) war. 2 808 3 & 1 . Niag HP 1stpf5.. Nipissing (60¢)-. NorthAmL & P.. North AmL&P pf. 100 North'n Europ Of1 5 No IPS 6% pf b76c 80s N Ind PS pf b87%¢ 108 Norih States P A 1 Northwest En b50c 3 Ohio Brass B b75¢ 100 Okla Nat Gas..__.. Okla Nat Gas pf.. Oldetyme Distil__. PacG&F 1stpf 1. Pac P S 1st pf 1.30 Pan-Am AIr (11)- Pantepeo Ofl. Param’t Motc Pennroad (a2 . 17 s | Penna Salt b3 __. Pepperell Mfg t6_ Phoenix Secur. .. Ploneer Gold (40c; Pitney Bow(t400) 129 ;129 | 129 ~ 10 1110 §,10 [ [] & Pittsbgh PG b2%. @ Potrero Susar._ Powdrell&Al té0o. Pressed Mot (12). F 1 Producers Corp... | & Prudentl Invablo 1 PubSvoIndpf.__ 80s Pub Sve Ind pr pf. 10s Pub Ut Sec pr pf_.150s Pug SA P&L §6 pf. 258 Quaker Oats pf(6) 10s Raytheon Mfg vte. 1 Red Bank___ Reiter-Foster ___ Reliance El b50c_. Reybarn Co bl0c-. Reynolds Invest _ Root Petrolm b25¢c. 10 Royal Type b76c_. 50s Rustless Ir&Stl__. 38 Ryan Consolid'd__ 1 St Reris Paper 5 Safety CH&L (b4). 508 Samson Unitd C'p. 1 Schiff(The)Co(t3) 1 Scovill Mfg (b50c)850s Segal Lock & H___ ¢ Sefberling Rubber 3 Selected Indus._... & Sel Ind all cfs 6% . 508 Sel Ind pr pf (5% )200s Sent Saf Control .. Seversky Alrcraft Shattuck Den Min Sher-Willms (14). Singer Mfg (16) . Solar Mfg (b10c)._. So Penn Of1(113%) Southn Union Gas. Southl'd Roy bl0c. Spencer Ch S b75e. Stand Cap&s 11.60 Stand Ol Ky (11). Stand Oil Ohio t1. Stand Pwr & Lt___ Stand S11&L4d (4c) Starrett Corp vtc_. Stein A & Co (11). Sterchi Brosa3uc.. Sterl Alum (b25c). Sterling, Inc t20c. Stetson (JB)b50c-. 200 Stinnes(Hugo) 4. Stroock & Co (2 Sullivan Macht: Sunray Oil (b5c) .. Sunshine Min (3). Superior Port C B. 76 Swan Finch.. Taggart Corp.__... Tampa El (2.24) . Taylor Dist (30c). Technicolor at0e._. Tech Hughes 1400 ‘Thew Shovel a50c 100s Todd Shipyd (12).100s Tol Edis pf A (7). 20s Tonopah M (aée). 1 Tr-iux DPS 200 Transwest Oil Co_. Tri-Contl C war__. ‘Tubize Chatillion . Tubize C (A) a2 Tung-Sol Lamp. Tung-Sol L pf 8 United Corp war... ' Unit Gas Corp.... Utd Gaswar.__.. Unit Gas pf b31§_. Unit Lt&Pwr pf A. Unit Lt & Pw (B). Ut P&L pf b37%ec. Unit Shipyards A Unit Shipyds B _. 8 Unit Shoe M 123 300s Unit S Mch pf1.50 ¥0a USFoll (B) (1).. 7 US & Intl Secur.. 2 USLinespt. .__. 1 U S Play Cards t1. U S Rub Reclaim_ © W0 AN S e . PETTORT - YTy - 11 B oo 1 16 o Unit Wall Paper _ Univ Prod (b50c)-100s Utllittes P& L (d) 2 Util P& L pf (d)_.100s Utilities Indust’l. Utllity & Indus p2. Valspar vto....._. ezuela Mex O Venezuela Petrol... Walker Minins. Wayne Pump b114. ‘Wnatwth Mfg blo. W Va Coal & Coke. ‘Westn Au 8 bé0c... Wolverine Port C. Wrizght Harg t400. Ygstn Steel Db1y Yukon Gold(al3c) Dividend rates in dollars based on last quarterly or semi-annual payment nual rate—not including_extras tAc- cumulated dividends o Paid b Paid this being tn bankruptcy or in rece! D. oF being reorganized under the nkruptey ;:;‘:.r securities assumed by such com- %|EXECUTIVE PROMOTED BY WESTERN UNION By the Associated Press. NEW YORK, May 24.—Western Union Telegraph Co. announced the appointment of Charles H. Carroll as iast year. | d Companies ceparted s | STANDARDG. &E. BOOSTS SPENDING Budget Raised to $35,129,- 000, Against $17,026,748 for Previous Year. . By the Associated Press. CHICAGO, May 24—Bernard W. Lynch, president of the Standard Gas & Electric Co. System, disclosed in the annual pamphlet report the capi- tal expenditures budget of subsidiary and affiliated public utilities com- panies for 1937 totaled $35,129,000, compared with $17,026,748 in 1936. The annual report also disclosed consolidated net income of $4,058,785, compared with $2,454,143 in 1935. The 1936 figures were slightly lower than those shown in the preliminary state- ment released February 25. Lynch said that during the last year the company had been eliminat- ing interlocking directorates and rela- tionships between it, the operating public utility companies of the system and other interests and that now no such interlocking relationships exist except where’ essential to efficiency in management and economy. United Shoe Machinery. United Shoe Machinery Corp. of New Jersey reported for year ended February 27 net income of $11,316,128, equal after preferred dividends to $4.74 a share on the common stock. This compared with $10,267,632, equal to $4.28 a common share in the pre- ceding year. Phelps Dodge Corp. Prediction that first-half earnings of Phelps Dodge Corp. would exceed $2 a share was made at a special stockholders’ meeting today by Louis 8. Cates, president. Copper production by the company for four or five months in advance has already been s0ld, he said, adding that the domestic copper market is strong, due, in part, to higher foreign Pprices. The stockholders approved issuance of $20,285,000 in convertible deben- tures to provide funds for the de- velopment of a clay ore body at Morenci, Ariz. Holders of capital stock will be given rights to subscribe to $4 in debentures for each share held. Cates said that all bank loans of the company, totaling $5,000,000, have been repaid, thus completing the financing for the acquisition several years ago of United Verde Copper Co. CONSTRUCTION DOWN IN CHEMICAL INDUSTRY Special Dispatch to The Star. NEW YORK, May 24.—Contracts awarded on current construction proj- ects in the chemical process industries total $7,262,000, as compared with $11,160,000 a year ago, Chemical and 14 | Metallurgical Engineering reports in its May issue. Current proposed work totals $15,050,000. This amounted to $5,396,000 in the same period last year. The outstanding proposed projects reported this month are for the con- struction of a rayon mill at Paines- ville, Ohio, for the Industrial Rayon Corp., West Ninety-eighth and Wal- ford streets, Cleveland, Ohio, estimated cost between $7,000,000 and $10,000,- 000; the construction and moderniza- tion of a paper and pulp mill at the Brown Corp,, Ltd., La Tuque, Quebec, estimated cost $2,000,000, and the con- struction of a sulphuric recovery plant at 5311 Curtis avenue, Baltimore, Md.,, by E. I du Pont de Nemours & Co., Wilmington, Del, for the Kreps Pig- ment & Color Corp., & subsidiary, also estimated at $2,000,000. — HOME LOAN ADVANCES CLIMB TO NEW PEAK By the Assoctated Press. The Federal Home Loan Bank Board reported that net outstanding advances of its 12 regional banks totaled $150,595,822 for the week end- ing May 14. This established a new peak over the $145400,720 mark on December 31, 1935, the board said. Washington Exchange SALES—AFTER CALL. 14 | Potomac Electric Power 514% pfd.— 1 at 109. Lanston Monotype—6 at 90. Bid and Asked Prices. BONDS. Amer. Tel. & Tel. 45 Anacostia & Pot. 5s Ana & Fot, Guar. S55a5w" SaF=3IRI]TS, 5 £ u MISOELLANEOUS, evy Chase Club Ist 4Ys. ©Col. Country Club 5 M. Cold Btorass b Amer. Tel, I CUDIal Teamons Lo~ N. & W. Steamboat ( Pot. Elec. Pow. 6% pfd. Po. El. Fo. 5}4% DI. (5.50; . Ry. m. (36)7 Wash. Ry, & EL pfd. (5)-_2°108 BANK AND TRUST COMPANIES. Amer, & Tr. Co. (e8)__ Bethesda (h.7§§) 2.90 i1 a0 Rt Lincoln (£6.25) = Natl_Saving & Trust Pr. Georges Bk. & Riggs (eB)_ " “yl! ofd. (5) "m"{o“’" ®) Wash. Loan & Tr. (e8 American (8) Corcoran (5) Firemen's (1.60) 29 National Union (.80)_ 18 TITLE INSURANCE. bis (.30) . Colu; Real Estate (6) Lincol assistant vice president in charge of Eeonl commerciel field administration. As assistant general manager of the metropolitan division he had been in charge of the company’s commercial operations throughout ~greater New York during the past nine years. He is a native of Tennessee, having Joined Western Union as an operator at Nashville in 1910. W. R. Willilams, Western Union superintendent at Los Angeles, will succeed Carroll in the metropolitan post. BOSTON WOOL MARKET. May 24 (P BOSTON, Department of lture) —Quotations in pzhn lo Ax{:‘tcuh“fie close to last . & . Corp. Loth. com. (11.5 Loth. ptd. (7). dividena, B — FEDERAL LAND BANKS YORK, May 24 (#).—Federal Land NEW Bank bonds: Bid. Asked, 4Ys Nov., 103% 1044 4V 4 United States Week's levels today, althoush mils snowed | 3 little interest in making iroh New' Dusiness in domestic tnged qulet n the country were {vnml lowe d, i Teased th E::,. which is ‘said to have incres e ases. wools con- FINANCIAL, . Net Income of the General Motors Corporation by Quarters wiion Quarters Ended [ yuuon Quarters Ended March 31 HUDSON MOTOR PUSHES HEAVY PRODUCTION Special Dispatch to The Star. NEW YORK, May 24—Capacity production for the Hudson River Car Co. will run well into the Summer months, according to all present in- dications. “Orders now on hand for several INSURANCE STOCKS NEW YORK. May 24 (.—New York Security Dealers' Association: Aetna Cas (2a) ___ Aetna Ins (1.60) Aetna Life (KOa)_ Am Equit (1:60a) Am Reins (40%) rve ( weeks' production plus a strong retail | ! demand as indicated by the fact that we have had four successive weeks of 5’,,, Increase in sales,” are responsible for the heavy output, according to Wil- e liam R. Tracy, vice president in Ha charge of sales. “In spite of the strike which in- terrupted production for over a month, | K retail sales of the current model np to May 15, totaled 68,630 Hudsons and Terraplanes, a material gain over the same period last year,” Tracy said. NEW YORK BANK STOCKS CLIMB 3.90 PER CENT |£; Special Dispatch to The Star. NEW YORK, May 24.—New York City bank stocks staged a recovery during the past week after reaching a new low for the year on y 18, according to figures compiled by Hoit, Rose & Troster. The aggregate market value of 16 to $2,066,804,000, $1,989,141,000 at the close of the pre- vious week, an increase of $77,664,000, or 3.90 per cent. The aggregate mar- ket value at the year's low on May 18 was $1,952,353,000. The current average yield of the 16 issues of 3.19 per cent compares with 4 yield of 3.31 per cent on May 14. The current market value is now 1.47 times the known book value. S |INSURANCE SHARES GO HIGHER DURING WEEK Special Dispatch to The Star. NEW YORK, May 24.—Insurance stocks in the New York City market rallied during the past week, accord- ing to records compiled by Hoit, Rose & Troster. The aggregate value of 20 leading fire and casualty insurance issues on May 21 totaled $595,086,000, which compares with $578556,000 at the close of the previous week, an increase of $16,529,000, or 2.86 per cent. The current average yield of the 20 issues of 3.81 per cent compares with 8 yield of 3.92 per cent on May 14. The current market value equals 95 per cent of the current liquidating value, against 92 per cent a week ago. DOLLAR DRIFTS DOWN IN LONDON DEALINGS By the Associated Press. LONDON, May 24¢.—In an idle for- eign exchange market the United States dollar declined 1-16 of & cent today, closing at 4.94% to the pound. This compares with New York's week end sterling rate of $4.94%. Exchange on French francs was 110.69 to the pound, against 110.81 1ast Saturday. PARIS, May 24 (#).—Rentes, 3 per cent, 63 francs 65 centimes; 41%s “A”, 69.321; 4155, 1937, 92.90. Exchange on London, 110.78. dollar was quoted 22.40%j. — NEW ISSUE PLANNED BY GEORGIA CENTRAL By the Assocfated Press. The Central of Georgia Railway Co. asked the Interstate Commerce Com- mission today for authority to issue and sell $1,400,000 of equipment trust certificates, to bear interest of not more than 4 per cent. The proceeds from the sale will be used to finance the purchase of 600 box cars, five air-conditioned passen- ger coaches and three express cars, —_— e SHORT-TERM SECURITIES. (Reported by Chas. D. Barney & Co.) Bid. Offer. 113 The Amer T & T 5igs '47 Auburn Auto 3%s '39" . Baldwin Lomomotive 5s '40 California_Packing 5s '40_- Carolina. Cl & Ohio 55 '38° Ohio_ 53, '39 1 X o 322 FRESFSS FF 5 Lehigh Valley Coal 65 *38 _ Lehigh Valley Term 58 '41_ Long Island Gen 45 "38_ - Louisville & Nashville 45 40 Michigan Central 4s ' Midland R R of N J ww & Northern 4ls ‘39 . Chi & StL 6% notes '38 Dock 5s '38____ it »BOORS! BRSF G SRR Ie33R3% SRRESRE RIS m Corp Vertientes Sugar 7 Wabash Rwy 58 Warner Bros 6s '39 Western N Y & Pa 45 "437_ ‘Western Union 5s '38 FESETE D200 BB MONEY MARKET. NEW YORK, May 24 (®.—Call money steady: 1 per cent all day: prime com- mercial p: T, 1 per cent: time loans steady: 60-90 days. 1%: 4-6 months, 14 T cen ers accebtances unchanged; o aatha -8 et -8 monf e H E: w York Reserve BAnk. 17 STEEL QUOTATIONS. NEW YORK. May 24 (0. prices 00 pounds £.0.b. P Ty jue annealed sheets, hot rolled. $.40; ?‘ ts, 3.80; black hot ol Bs i et vars, g-ase” e compared with | u ire (2 = Westchester ~(1.20a) a—Also extra or extras. 8—Declared or paid so far this year, U. S. TREASURY NOTES. NEW YORK. May 24 (#.—Prices quoted in dollars and thirty-seconds: R i3 po e WD v=on i D D i £ . BAABHSERR 8 rters Ended uarters End el R 90 Decomber 31 DIVIDENDS ANNOUNCED NEW YORK. May 24.—Dividends de- lared: Extra, ¢ Pe- Rate. riod. 10¢ 50c Stk of Pay. record. able. Goebel Brewing __ 16 Perfect Circle South_Penn Oi Natl Baking* *Plus 1-50 CHICAGO LIVE STOCK. CHICAGO. May 24 (7 United States Department of Agriculture).—Hogs, 12,000, including 3,500 direct; ~generally strong 010 higher than Friday's average: top, 12.10: bulk good and choice, 200-300 . 11.80-12.00. but numerous loads, 05: 'good and choice, 150-180 pounds, 90: 'few 'strongweight pigs better. but bulk medium to kinds. 850-10.25: packing sows, ely 10.60-85; smooth lieht kinds, 11.00 er. attle. 12.000: calves, 1500: fed steers and yearlings. steady to strong: good and cholce offerings as well as common kinds fairly active; medium to good grade steers slow. on big packer account; e and Ci -12.75 market: more grassy and warmed-up steers here of value to sell under 10.00; not much with beef merit under 9.00: 'stockers and feeders steady; supply largely Southwest calves and year- lings * selling at 8.50-9.25. few stock calves, 9.50: she stock very scarce again; firm. -~ Bulls, 15 higher at 6.75 down on sausage offerings: selected vealers, 10.50; 0. mostly 9.00a10.00. 8h including 12,000 direct; eep.’ 17,001 s fat lambs and Spring- very slow: few ers around 50 lower: sheep steady. quality considered: scattered lots native Sprin, lambs. 12!00-50: short-deck choice 10 pounds. clipped lambs, 10.00: shorn native slaughter ewes, .00-5.00; hslf-deck choice, 114 pounds. Californias, 5.25. RUBBER FUTURES. NEW YORK. May 24 (.—Crude rubber futures opened barely steady, 18 lower to 1 higher. ~July. 20.95b: September, 21.25- 26: mber. 21.31-38. b—Bid, A TRUST INVESTMENT COMMITTEE to Guard Your Investments AS Executor or Trustee, American Security maintains o large staff of experienced men who keep lintimately in touch with investment trends. These men scrufinize and investigate securities continuously. Their recommendations are submitted to the American Security’s Trust Investment Committee, consisting of the Pres- ident and three Directors. No sale or purchase of securities can be made without this special Advisory;Committee con- sidering the recommendations. This is but one of the many ways Amori:an!Sacu'rify acts to protect estates entrusted to its care. We invite you to dis- cuss your estate problems with one of our officers. Call or write for our timely booklet, “The Trust Company in Operation.” AMERICAN SECURITY AND TRUST COMPANY »3 A—-21 HOG PRODUCTION ABROAD DECLINES European Drop May Boost Demand for American Pork Products. By the Associated Press. The Agriculture Department pre- dicted European hog production would decline the rest of this year and in 1938. This possibly will mean increased demand for lard and pork products from the United States, the department said. The Berlin office of the Bureau of Agricultural Economics reported all important European hog producing countries showed a decline compared with last season, and a shift from fat to meat type hogs. This decline, coupled with increased European hog slaughter in recent months, “indicates that Europe will have need for increased supplies of Western Hemisphere lard during 1938, the Berlin office said. Government trade experts said they did not know how the indicated shorte age of lard and pork “may be transe formed into an effective demand.” In the years previous to 1930, the United States exported more than a billion pounds of pork products annu- ally, chiefly lard, with the bulk going to Europe. In recent years these pork product exports have declined to & small part of the former volume. Lard prices in Europe were reported high now with consumption aeclining. Great Britain has turned to margarine and other butter and lard substitutes, the department sald, with fats “the weakest point in the national food site uation” of Germany, FOREIGN MARKETS. L0} N, 24 (P arfOYDQL Moy, 24, (0 —stocks gow was buying 1n all sections of 1h & In all sections of the iist. wit 3itel and shipping shares leading the the dustrial group. ~Home rails were strong, mining and oil shares firm ' and ‘transe Atlantics in good demand. Improvement for German bonds ‘continued. = Otner fore eign bonds and gilt-edge lssues were quiet, PARIS—The bourse closed irr day. with government bonds st international issues firm. Bank of Prance ended 30 points net higher and Suez Cana] gsined 100. Citroen was off 10 boints. PHILADELPHIA PRODUCE. PHILADELPNIA. May 24 (). —Livi Doultry—Fowl, Plymouth Rocks, fancy. o) mixed colors. 19-20: White Leghorns fancy. 18; average. i6-17: old roosters 13-14; horns, "old roosters, & 8pring chickens. fa 21-25 cross-bred: Reds. " broflers, 1 % ! ducks. White Pekin, ‘young, 14: old. 11-13 mixed colors. 11-12; turkeys, fancy hens 15-16: young toms, fancy. 14 Dressed poultty—Fowl, fresh killed. 1§ boxes, ' 1915-22: old_roosters, dry picke T3-15%: " dicks. sprine. ‘Long s 1 OFFICE FURNITURE WE SELL, BUY OR EXCHANGE Desks Steel Files ‘Tables Steel Cabinets Chairs Safes BAUM’S FURNITURE HOUSE 1416 Eye 8t. N.W. Phone NA. 2184 Largest Capital and Surplus of any Washington Trust Company Main Office: FIFTEENTE STREET AND PENNSYLVANIA AVE. CENTRAL BRANCH 7th aod Massachusetts Ave., N. W, NORTHEAST Eight and H BRANCH Streets, N, E. NORTEWEST 1140 Fiftcenth Street, N, W, SOUTHWEST BRANCH Seventh and E Streets, 5. W. BRANCE { Memzzr FEDERAL DEPOSIT INSURANCE CORPORATION MEeMBER FEDERAL RESERVE SysTEM