Evening Star Newspaper, May 27, 1937, Page 22

FINANCIAL. OND. C. EXCHANGE April Sale Hit $220,804, Compared With Only $193,058 in March. BY HAROLD ROGERS. Sales on the Washington Stock Ex- change showed a substantial gain from $193,058 in March to $220,804 in April, according to the monthly report of the Security and Exchange Com- mission. Of this, stock sales showed an in- erease from 1,380 shares, valued at $131,498, in March, to 3,686 shares, valued at $155,793, in April. The principal amount of bonds sold Increased from $62,500 in March to $68,500 in April, while the actual sale value gained from $61,560 to $65,011 during the same period. For the country as a whole the dollar value of sales on all registered securities exchanges in April amounted to $2,373,658,233, a decrease of 30.5 per cent from the value of sales in March, and an increase of 8.5 per cent over the value of sales in April, 1936. Stock sales (including rights and warrants, had a value of $2,052,318,361, & decrease of 31.1 per cent from March. Bond sales were valued at $321,274,396, a decrease of 26.8 per cent from March. The two leading New York ex- changes accounted for 96.1 per cent of the value of all sales on all regis- tered exchanges, 95.5 per cent of stock sales and 99.9 per cent of bond sales. Hospital Data Filed. ‘The Doctors’ Hospital, Inc., & Vir- ginia corporation which plans to erect a net hospital on I street between Eighteenth and Nineteenth streets, yesterday filed an amendment to its registration statement which has been pending for 20 days before the Securi- ties and Exchange Commission. The amendment, which now goes before the commission for consideration along with the original statement, contained additional details of the proposal. The corporation in its statement proposes to offer 4,000 shares at $100 par value, out of the 5,000 shares au- thorized, for sale only to “certain members of the medical and allied pro- fessions.” It is planned to spend $201,805 for the purchase of land, $600,000 for the hospital building, in- cluding the architects’ fee; $194,000 for furniture, fixtures and equipment and $4,195 for organization expenses. The sale of stock would bring in $400,000, and it is proposed to raise $600,000 from a construction loan for total proceeds of $1,000,000 for the project. Dr. Charles Stanley White is president of the new corporation, Dr. Oscar B. Hunter, secretary, and Gardner L. Boothe of Alexandria is counsel. Bankers at Conclave. Much interest was being expressed in local financial circles here today in proceedings before the District of Columbia Bankers’ Association con- vention at White Sulphur Springs, ‘where many local bankers are in at- tendance. President Tom K. Smith of the American Bankers' Association, re- ferring to the “general upward move- ment” in building activity and the stock market, and the resultant in- crease in total of bank deposits, ob- served that “banks have little control over this upswing.” “Banks have no control over the use depositors make of their money,” he said, and the banks therefore cannot force restriction of the activity by adopting a more stringent loan policy. “By no means, however, do I wish @y statement that banks directly can- not control this upward movement to be taken as an indication that there is no possibility of controlling it, and that we are necessarily going to have & period of drastic inflation. I have confidence in the view of those econo- mists who hold that recent legislation has given the authorities adequate powers to control the situation, pro- vided the necessary steps are taken. Opposition to two banking bills re- cently introduced by Senator William G. McAdoo—one to provide for inter- state branch banking, the other to eliminate holding companies owning controlling interest in banks—was voted at a conference of Eastern Vir- ginia bankers called several days ago at Old Point Comfort, Va. ‘The committee appointed to cam- paign against the bills includes L. M. Von Shilling and Col. Joseph E. Healy of Hampton; G. Franklin Lenz and Semuel E. Plummer of Newport News; R. W. Dudley and I. T. Van Patten of Norfolk; J. R. Rowell of Smithfield, Jack Nurney of Suffolk, Otto Lowe of Cape Charles and George V. Munford of the Eastern Shore. Exemption from securities act reg- istration to so-called intrastate offer- ings of new securities is designed to apply only to such types of distribu- tions as are genuinely local in char- acter, according to Allen E. Throop, general counsel of the Securities and Exchange Commission. In a letter to the Investment Bank- ers’ Conference, Inc, clarifying the meaning of the intrastate exemption provisions of the securities act, Mr. ‘Throop emphasized that from a prac- tical point of view the provisions of that section can exempt only issues ‘which in reality represent local financ- ing by local industries, carried out purely through local purchasing. James W. Allison, vice president and § trust officer of the Equitable Trust Co., Wilmington, Del., formerly trust officer of the First & Merchants Na- tional Bank at Richmond, will speak to the Southern session of the Na- tional Economic Conference to be held in the Virginia capital on June 4, ‘Thomas C. Boushall, president of the Morris Plan Bank of Virginia and chairman of the conference, an- nounced yesterday. The conference is sponsored by the Society for Sta- bility in Money and Banking. TU. S. TREASURY NOTES. NEW Ol 27 (®.—Prices quoted in flofifl"l -nd thirty-seconds. Asked TISE: 101- AR FOREIGN MARKETS. NDON. m 27 (A).—S8tocks ended after early quietness Tettlement of coal and al ifficulties was a favorable factor, only partially offset by action of markets abroad. Industrials improved moderately. _ Giit-edged issues and Eu- fopean bonds “were fractionally lower. ans-Atlantics were quie P, May (P.—The Bourse had a firm wntd'allyd O’faumm‘e%bondld'fl;r: Food deman ank of France ints bigher. Sues Canal gained 100. By Private Wire Direet to All New York markets are mow on Prev. 1937 Stock and High Low. Dividend Rate, 15 Adams Express b30c¢ 29% Addressog’ph b60c... 67% Afr Reduction (1) 11% Alaska Jun (160c).. 3% Alleghany Corp..a 431 Alleg pf ww $30... 38% Alleg Corp prpf._ ... 33 Alleg Steel (b80c).-. 75?% 218 Allled Chem (6) - % 241 Allied Mills b2 xrts.x Allied Mills (b2)rts. 15 Allled Stores (b20c) 68% Allis-Chalm (b50c). 4% Amal Leather____.. 90 Amerada Corp (2)_. 83 Am Ag Chm Del b1_ 21% Am Bank Note (t1). 59 Am Bk Note pf (3).. 57% Am Brake Sh (12).. 95% Am Can (t4) 174 152% Am Can pt (7)_ 71 50% Am Car & Fy (bZSC) 99% 72 AmChain&Cabl__ HH 1156 Am Chain & C pt 23% 13% Am Colortype. 94% Am CrysS1stpf 6. 10s 8 Am Encaustic____2. 6 7% Am & Foreign Pwr_. 18% Am & For Pw 2 pf_ 6% Am Hide & Leather. 2% Am lcy 13% Am Internti (a40c)_ 423 Am Locomotive_ ... 125 107 Am Loco pf (83) . 20% Am Mach & F (11) 9 Am Mach & Met 60« 45% Am Metals (b25¢)_. 8!4 Am Power & Light. 43% Am Pw & Ltpf (5).. 13 53 Am Pw & Lt pf (6)_ 6 20% Am Radiator t60c.. x 29 31% Am Roll Mill $1.20_. 28 28 Am Safty Ras (12).. 2 22Y% Am Seating (a2%4).. 41 Am Shipbldg (2)___ 105% 79% Am Smelt & Ref(3). 1073 105 Am Sm & Ref pf(6). 78% 48% Am Steel Fdry (bl1). 115 109% Am Steel F pf (7). 26% 19% Am Stores (2) ... 567 43% Am Sugar (2) ... 143% 1257 Am Sugar pf (7)___. 25% 21% Am Sum Tob (1) 187 1604 Am Tel & Tel (9)._. 99 74% Am Tobacco (5) ... 99% 74'%4 Am Tobacco B (5)... 1501 128% Am Tobacco pf (6)_. 20% 13% Am Type Founders.* 29% 16% Am Water W (80c). 14% 8% Am Woolen . 20 6% Am Zinc & Lead. €914 47% Anaconda Cop (t1)- 24% 18 Anchor Cap (60c)_.. 37% 231 Andes Copper 40 Archer-Dan- M('z) 107% Armour(Del)pf(7)_. 7 Armour of I11(b35¢) 813% Armour(Ill)pr pf 6. 96 Armour(Il11)pf(7)._. 574 Armstrong Cork(2). 12 Arnold Cnst b623%c. 10 Artloom Corp. - 15% Assoc Dry Go 94 Assoc Inv pf 'w(E) 695 Atch T& S Fe(a2).. 44% Atl Coast Line(al)_ 28 Atl Refining (t1).__ 15% Atlas Corp (80¢) ... 50% Atlas Corp pf (3)_.. 21% Auburn Auto _ 6 Austin Nichols 32 Austin Nich pf ('l). 5% Aviation Corp Del__ 6% Baldwin Loco (d)__ 5% Baldwin asd (d) .__. 20% Baltimore & Ohfo__. 333 Baltimore & Oh pf__ 29% Barber Co (b25¢c) 2414 Barker Bros __ 38 Barker Brospf 2% 4 24'% Barnsdall (1)__ 20% 14% Bayuk Cigar t75c__. 15% 12 Belding Hemin (1)_ 30%: 1914 Bendix Aviat'n b50c. 23% 20% Benef Ind Ln (b35¢) 105V2 73 Bethlehem Steel(blx 22 18% Beth 6% pf (1) __ 2 129% 115% Bethlehem pf (7) 2713 Black & Decker (1) 22 Blaw-Knox (bd5c)_. 313 Boeing Airplane 40% Bohn Alum & B(3)_. 41% Bon Ami (B) (2%)_. 2414 Borden Co (1.60) ... 3874 Borg-Warner. 8% Boston & Maine 214 Botany Mines A(d) 15 Bridgep't Brass(1)_- 41% Briggs Mfg (12) __. 43% Briggs & Strat (3) .. 41 Bristol-Myrs t2.40.. 25% Bklyn-Man Tr (4)_. 76 Bklyn-Man T pf(6). 3% Bklyn & Queens ___ 17% Bklyn & Queen T pf. 81 Bklyn Un Gas(1.60) 45'% Brown Shoe (3) 17% Brunswick-Balke. 25% 15% Bucyrus-Erfe__ 117‘« 1067» Bucyrus-E pf (7) 14% 8% Budd (EG) Mfg____ 13 8 Budd Wheel b20c__.. % 2513 Burr Add M (80¢) .. 7 Bush Perminal __ 1314 Butler Bros (500)_. 28% Butler pf (1%) .___. 4's Butte Cop & 7(a5c) . 67% Byers (A M) pf____. 2% Callahan Zinc-Lead. 12 Calumet&Hec b75c_. 26 Campbell Wy (11 25Y% Canada Dry G Ale__ 17% 12Y% Canadian Pacific__.. 9% 7 Carriers& Genb 5c. 176% 138 Case(J 1)Co (4)_ 100 85% Caterpillar Tr ('2)- 41% 26% Celanese (b75¢)__.. 36 48% 36%% Celotex Corp (b40c)x 1 39% 31 Cent Aguire (t1%). 1 12% 7t Central Foundry_.. 10 107% 100% Cent I11 Lt pf(4%)._. 1008 26 CentralRROINJ 60 Cerro de Pasco (4).. 14% Ceriain-teed Prd___ 60%4 Certain-teed ptf (6)- 54% Ches & Ohio 12.80__. 91 Ches&OhpfA (4)- 6% Chi & Est I11 pf (d). 2% Chi Grt West (d) .. 12 Chi Grt West pf (d). 24% Chi Mail Ord t1% .. 2 Chi Mil St P&P (d). 4% Chi M St P&P pf(d). 3% Chi& N W (d) 11% Chi & N W pt 21 Chi Pneumatic Tool 2% ChiR1&Pac(d) _. 6% Chi RI&P 7% pf(d). 18% Chi Yellow Cab (2)_ 15% Chickasha Cott'n Oil 12% Childs Co 135% 106% Chrysler Corp b3 % - 92 83% City Ice& Fpf6%.. 10% 7 City Stores____ 113 105 ClevElIllupf4%.__ 443 35 Clev Graph Br (2).. 1 170% 122! Coca-Cola (12) ___.. 25% 19% Colgate-P-P(t50¢). 62% b51% Collins & Alkn (12). 112% 108% Collins & Atk pf(5). 27% 20% Colo & Southern____. 30 20% Colo & South 1st pf. 20% 11 Columb G & El(40c) 39% 31 Columb Pic vte (t1) 69% b56% Comcl Credit (14).. 80% 63% Comel Inv T (t4)__. 21% 13% Comcl Solv (160¢) .. 4% 2 Comw & Southern... 47% Comw & Sou pf(3).. 36% Congoleum-Nrn(2). 831% Con C pr pf ww 6% _ 88 ConCpfxw (6%).. 34 ConsEdisN Y(t2)_ 108 103 ConsEd N Y pf(5).. 5% 3 Co ilm. 18% 12% Cons !‘flm Df lli)__ 13% 9% Cons Laundries.... 17% 14% Cons Oil (800) . ... 1% % Cons Textile (d).... 13% 8% Cons Coal(Del)vto.. 33 Cons Coal Del vto pt 20% Container Corp 1.20. 2% Contl Baking (B) _. 87 Contl Baking pf(8). 50% Contl Can (3) ... 19% Contl Diamond (2) . 35% Contl Insur (11.60). 2 Contl Motors. ... 39% Contl Oil Del (1) 62% Corn Ex Bank (3).. 54% Corn Prod Ref(13)_ 6 Coty Inc - 561 423% Crane Co ex rlghts_. 121 113% CraneCopf (1) ___ Crane Co cum pf( Crane Co (rights)__ 29% Cream of Wheat(2). 18% Crosley Radioall . 70% Crown Cork & 8(3) . 46 CrnC&Spfww2y.x 17 Crown Zellerb_.___. 99 Crown Zell cu pf(6). 61 Crucible Steel __._. 1% Cuba Co . - oeceee 8% Cuban-Am Sugar_.. 127 110 Cub-Am Sug pf(b5). 20% 12 Curtis Publishing.. 8% 6% Curtiss-Wright____. 23% 16% Curtias-W (A)ab0o. 80% 78% Cutler-Ham (bl)... J, 9 160 17 1 10 2 1 6 2 1 3 3 6 2 1 0 3 4 2 2 5 46 111 13% 9915 126 014 16% 17% 24% 106 943 551, 37 181 523 36% 95 5219 9 9y 4013 473 43% 32 42 29"i 49% 48% 46% 28 1808 N Pt ~BoTomaswanTanmommn 118 184 36% 9% 91 6% 204 3T 384 " o~ WA A A NN 308 1 1 1 b5 3 1 3 22 10 3 Bales— Add 004 Hllh. Low. Close. chge. 1% 17 5% 8 117% 117% 8105 104% 1( 460 H 1 100% 100% 9% 120! 120 120 120 THE EVENING STAR, WASHINGTON, D. C, THURSDAY, MAY 27, 10317 tar. Jlisht saving time. Net 17% + % 30% — 5 1% +1% 12% — % 2% = % 44% 2% 36 —24% 34 =% 231% + % 23% —2% 732 16% — % 60% 5% + % 95% -1 91 +1 24% + % 63% +1% 64 - % 9 + % 157 41 (A {8 e i PR o o o o P#fi# FE F OFFS FFERFEFF EEEFE FF 12% 841 41 114% 841 2 % % 108 307 107 41 41 1156 156 1% + % 05 # 3L 22 31 22 % T4 45% 46% 19% 19% % 31 + % 22 W% + % 46% — & 19% 100% + % 59% ~l 1% - 9 — % 60% 59% l'/¢ 1% 12% 12k 12% + % 5% b4 6% —%4 18% 184 18% + % 8% Td% 5% +2% Prev. 1037 Btock and High. Low. _ Dividend Rate, 137% 104% Deere & Co.. 4 31% 26% Deere & Co pf 1.40 .. 19% Deisel-Wem-G(11). 41% Delaware & Hudson 17% Del Lack & West_ __ 28% Diamond Match (t1 34% Diamond Mpf(t1%) 17% Diamond T Mot b25o 20% Distil Corp Seag.-.—. 19% Dixie Vortex(1%)_. 3814 Dome Mines (12)_.. 47! Douglas Afrcraft__. 45'% Dresser (A) (a3 4% Dunhill Internatl .. 1803 148% Du Pont de N(b2%)x 13 135% 131% DuPont deN deb(6). 17 10% Eastern Roll Mills_. 1 175% 161 Eastman Kodak (8) 10 163 150 Eastman Kod pf(6). 37‘/. 31% Eaton Mfg (2) . 11% Eitington-Schild___ 21% EI Paso Nat G 1.60.. 34% Elec Auto Lt 12.40.. 9% Elec Boa 0C) . e 4% Elec&Mus I (al8c). 15% Elec Pow & Light .. 59 Elec Pw & Lt $6 pf_. 62 Elec Pw & Lt $7 pf_. 37 Elec Storage Bat (2) 114 Elk Horn Coal (d) .. 3% Elk Horn Cl pt (d) 55% Endicott-John (3)_. 115% 108% Endicott-Jhn pf(5)_ 9 5% Equitable Office B_. 13% Erle RR__ 24 Erie R R 18t of 76 Erie & Pittsb'gh 3 ‘fi x 201 241 Evans Prod (11) _ 49% Fairb'ks-Morse (t1) 53% Fajardo Sugar (b2). 19% Federal Lt & Trac.. 5'% Fed Screw Works... 314 Fed Water Svc A 36 Fidel Phoenix t1.60. 32% Firestone T&R (2)_ 40 First Natl Strs t2% 29% Flintkote Co (1) ___. 3814 Foster-Wheeler____ 106 Foster-Wheeler pf_. 24Y% Freeport Sulph (1) 4% Gabriel Co (A).. 22 Gamewell Co. 95 Gannettcv pf (6) 1214 Gen Baking (160¢c).. 22 GenCable._ 45 Gen Cable (A 152 134 Gen Cigar pf ( 6474 497 Gen Elec (b40c) 44% 36 Gen Foods (2) - 3% 1% Gen Gas&Elec(A). 657 60 Gen Mills (3)_ 124 117 Gen Mills pf (6) .. 70% 54% Gen Motors (b13%)_. 122% 114% Gen Motors pf(5)_. 15% 87% Gen OQutdoor Adv... 19 15% Gen Print Ink new_. 5% 315 Gen Pub Service____ 41% Gen Ry Signal (1).. 3 Gen Realty & Util__ 60 Gen Steel Cast pf___. 22% Gen Thea Eq(b25c). 15 Gillette S Ras (11)_ 20% Gimbel Bros _ ___._ 41 Glidden Co (+2)___.. 51% Glidden cv pf(2%)—. 4% Gobel (Adolf) _____. 5% Goebel Brew (120c). 81 Goodrich(BF) bs0c- 7913 Goodrich pf (5) ___ 27% Goodyear T & R b: 100 Goodyear cu pf(5 73 Gotham Silk Hose__ 903 Gotham S H pf (7). 3 Graham-Paige 612 Granby Cons - 33 Granite City Sti(1)_ 34% Grant (WT) (11.40) 403 Grt Northern pf____ ]9 Grt Northn Ore (1) . % Grt West Sug 12.40_ 14513135 Grt Wst Sug pf(7)_. 167% 12% Greyhound (180c) _. 59% 47 Gulf Mobile & N pf_ 31 253 Hamilton W (b65c). 105 98 Hanna (MA) pf(5). 5814 43 Harb-Walker (12) .. 17% 12% Hat Corp of Am 80c. 8 4 Hayes Body 109% 101 Hazel Atlas Gl (15). 157 11% Hecker Prod (i60c). 39% 27% Hercules Motor(t1) 135'% 125 Hercules Pdr pf(6).- 67% 58 Hershey Choc (13)_ 52% 35'% Hollana Fur(al}). 30% 21 Hollander & Son(1). 4313 31% Holly Sugar (12) .. 431 336 Homestake (112)__. 27% 20% Houd-Her B (11%). 173% 123 Houston Ofl vte___. 901, 62% Howe Sound (13)_—. 23% 15% Hudson Motor. 4 3 Hupp Motor.__. 2214 Illinois Central 46 Illinois Cent pf AA.. 62 IllCentlsin (4)_ oo 12% Indian Refin (a1)_.. 36% Indus Rayon (2) ... 144 125 Ingersoll-R’d (b1%) 131% 97 Inland Steel (t4)___ # fs Inland St rts June 4 331 173 Inspiration Cop . _ 111% 107% Interchemical pf(6) 283 16 Interlake Iron___... 9% 5 Intl Agricultural .. 632 42 Intl Agricul prpf_.. 189 150 Intl Bus Mach(16)_. 111%5 99% Intl Harvester(23%) 162 1447 Intl Harv pf (7) ... 167 8% Intl Hydro E1A__._ 15% 6'; Intl Mercantile M_ 18% 10 Intl Mining (b30c)_-x 73% 55t Intl Nickel (b1) ___ 135% 1285 Intl Nickel pf (7) 243 164 Intl Paper (A) .. 18 105 Intl Paper (B) 9% 5% Intl Paper (C)ameee. 121% 90% Intl Paper pf_____.. 57% 43! Intl RyCAmpfA_. 49% 42% Intl Shoe (12) 52 31% Intl Silver. 157% 9% Intl Tel & 36% 20% Interstat Dp Stb23§ 1% 1 Inter DSrtsJune$. 26% 17% Intrtype Corp b30c._. 30 25% Island Creek (2).._. 874 71 Jewel Tea (14)__ouo 155 125 Johns-Manv (13) 126 120 Johns-Mansv D!(1). 20 Kans City South__ 275% Kaufmann (tlAGO).. 16% Kelsey-H A (a1%).. 12Y% Kelsey-H B (al5) .. 51 Kennecott Cop bl . 15% Keystone S&W b30c 47% Kinney pf (al1)_____ 8% Kresge Dept Stores. 22 Kresge (S S) b60c__ 19% Kroger Groo (11.60) 181% Lambert Co (2) ... 17 Lee Rubber (50c) .. 9% Lehigh Val Coal pf. 17 Lehigh Valley R R.. 137 117% Lehman Corp (t3)._. 61% Libbey-Ow-F b75c..x 114 947 Ligg & Myers B t4._. 23% 213 Lily Tulip (t113%)... 59 Lima Locomotive__. 43% Liquid Carb (2.60) .. 6414 Loew's Ino (12) __. 50% Lone Star Cem (3) .. 6% Long-Bell Lumb(A) 32% Loose-Wiles (2) ... 21% Lorillard P (+1.20)_ 19% Louis G&E A b373{cx 86% Louls & Nash b2 . 29% Ludlum Steel (1) 27 McCall Corp (12)._. 143% McCrory Stores.__... 32% McIntyre Porcu(2). 31% McKeesp't Tin Plate 12% McKesson & Rob__. 42% Mack Trucks (t1)__ 44% Macy (R H) (t2) __ 11% Mad Sq Garden b95e 45 Magma Copper (2).x 8% Man El md gtd (d) .. 3% Maracaibo Ofl £xp_. 10% Marine Mid (t40c)_. 18% Marshall Field ... 28% Martin (Glenn).... 54% Masonite (1) 33 Mathieson Alk (134) 54% May Dept St (13) 25% Mead Corp---. 9314 Mead Corp pf 70% Melville Shoe (t5)-.. 11% Mengel Co. - ll% Miami Copper. 35% 27% Mid-Cont Pet (bioc) 122 114 Midld Stl 1st pf(8)_ 120 96 Minn-Hon Ros (2).. 16% 11 Minn Moline Pow__. 384 25% Mission Corp (b1)_ 9% 34% 12% 40% 101 €9 66% 3% 2 8 2 2 2 2 2 0 9 1 1 4 - 5 A= T oA PRB B - S —a S~ 23 PRS- [ re-] H S 87% 4% 141 1312 96 481 47% 56% 2815 42% 9 2 2 : S eBupny o N PRI © S ° - 2 - © ST PTRIR T -~ VIO G R PTG PTOT e10L - P YOTOUP QP15 SOy 7 Mo Pacific pf (d).__ 28 Mohawk Carp(1.20) 85 Monsanto Ch b76c.— 48 Montg Ward (12) __. 59 Morris& Esx (3%)- % Mother Lode a123%0. 31% Motor Prod (b132)_. 20% Motor Wheel(1.60). 40 Mueller Brass (t1) 24% Mullins B (a50c) ... 11% Murray Corp(as0e). 58% Myers (F E) (bl)_. 17% Nash Eelv (1) _ e 18 Natl Acme (b25¢) . 24% Natl Biscuit (1.80).. 25% Natl Bond & In 1.44. b4 131 27 20% 43% 187 29% 130 7 53% 39% 2% 6313 119% 55% 117% 123 % 6% 101 46 43% 40 10% 20% 1 1814 28% Net Add 00. High. Low, Close. chge. 130 27T + W 20% — 43% + 18% — 29% + 36% — 17% 21% + 20% + 39 B4t + 48% — 4% + | segesyy SeEEs SRR UL+ + ++ EFEFEF - & 119‘ 557 117'44 (S EFLS FEEFF +lH1Ae114 FLES 102‘& 46 43% 40 108 20% 1 183 2815 75 1 75 128 122 21 2% 17% 12% 57% 15% 69 9 21% 19% 20 24% 10% 'n 18 118% % 66% 95 281 284 115% 114% 107 107 127 !129 122 21 274 17% 1215 587% 15% 59 94 22% 19% 20 18 118% — 66% 95 20% —1% 66 48% + % 80 66 — 1% 12% — % 50 +2 9 —-% 4 10% 24% + % i 15 — 33 ) 54 -1 27% -1 95% 73% + % - % lBK 28% + 114% —1% 107 + % 125% 12% + % 27% + % % Prev, 1937 Stock and High. Low. _ Dividend Rate. 387 29% Natl Cash Reg (1) 26% 21% Natl Dairy Prd 1.21 112% 108 Natl Dairy pf A (7). 16% Natl Dept Stores. 67 Natl Dept Strs p: 27% Natl Distilles 14%, Nat'l Gypsum Co.. 8114 Natl Lead (160c)__. 48 Natl Mall & 8 C b50c 8% Natl Pw & Lt (60¢). 70 Natl Steel (123%)___ 62 Natl Supply Co_.__. 8Y% Natl Tea (60c) oce. 1 10 Natomas (180c). ... 1 28 Newport Ind(b50c). 14 40 N Y Central_ 53 41 NYChi&sSt 25% N Y City Omnib 17 N Y Dockpf.__ 1 N Y Investors (d).. 5% NYNH&H (d)___. 16% NY NH & H pf (d).. 2% N Y Ontarfo & W_... 84 N Y Shipbuilding__. 95 N Y Steam pf (6) 9% 28‘ 155- 102% 4% 2 Norfolk South (d)._. lll 102 Norf & W pf (4)___. 17% 9% North Am Aviation. 34% 22Y% North Am Co(b30c). 36% 2T% Northern Pacific.. 63%s 49 Northwest Tel (3)._. 6% 3% Norwalk Tire & R__ 22% 17% Ohio Oil (b50c)___. 73 53% Oliver Farm Equip. 33% Otis Elevator bd0c_. 141 Otis Steel __. 82!% Owens-I11 Glass (1) 17% Pacific Am Fish 1.20 28% Pac Gas & Elec (2)- 41% Pac Lighting (3) ... 8% Packard Mot (b16c). 2 11 Pan Am Pet (a60c)_ 2% Panhandle P& R_.. 3 10 T 1 9 5 4 1 2 60 Panhandle P&R pf.. 320 117 19% 1 138% 17% 17% Paramount Pic__ 41 200% 126 Paramnt 1st pf (6) - 26% 16% Paramnt 24 pf 60c_.. 4 8% 4 Park Utah 44% 38 Parke Dav! ) JE0 24% Parker Rust (113)- 44 Parmeles Trans 6% Pathe Film Corp___. 14% Patino Mines(160c). 3% Peerless Corp.____. 3814 Penick & Ford (b1). 87 PenneyJC) (4) ___ 7 Penn Dixie Cement.. 22 Pa Glass ctfs b2ic . 39% Penn Railroad (a2). 44% Peoples Gas Chi 16% Petrol Corp(A) b40e 7% Pfeiffer Brew b60c_. 43Y% Phelps Dodge b80c_. 43 Phila Co 6% f (3) 887 Phila Co pf(6)new_. 1% Phila & Read C& I_. 70 Philip Morris(b3%) 12% Phillips Jones ____ 4915 Phillips Petrol'm 2 147 Pierce Oil pf 28% Pilisbury Flour 1.60 24% Pitts Steel 934 Pitts Steel N 2 8 9 5 2 2 1 2 9 1 2 4 8 1 1 2 1 1 5 4 1 1 1% Pittston Co 24% Plymouth Oil b70c.. 22% Poor & Co (B) .. 1% Porto R Am Tob B.. 8 Postal Tel&C pf(d). 19Y% Pressed Steel Car__. 3 551 Proctor & Gam(12). 118'4 1145 Proc & Gamb pf(5). 52% 37% Pub Sve NJ (2.60).. 128'4 115 PubSve N J pf (6)_. 5‘»‘7. Pullman Ine (1%).. 4 Pure Oil — 99 Pure O11 6% pf. 15% Purity Bak (60¢c) 16 Quaker State O b45cx 814 Radlo Corp.__ 65% Radlopf A (3%)___ 7% Radio-Keith-Or (4) 29 Raybestos M (11%)x 37 Reading RR (2)____ 17 Reliable Stores (1) . 21 Rem-Rand (b3sc) 80 Rem-Rd pf ww 415 _ 5 Reo Motor Car.._.. 27% Republic Steel 99 Republic pr pt A(() 22'5 Revnolds Met (11).. 112 102% Reynolds M pf 535 _. 22 Reynolds Spr (11)_. 49 Reynolds Tob B (3). 31 Safeway Stores(12) 43% St Joseph Ld (12) ... 3 St L-San Fran (d)_. 2813 St L Southwn pf(d) 14% Savage Arms (b25¢) 4 40 Schenley Dist bl11; _. 14 Schulte R Strs (d) .. 13% Schulte R S pf (d) .. 1'4 Seaboard Afr L (d). 4% Seaboard A L pf(d). 36% Seaboard Ofl (1) T4 Seagrave Corp.. 81 Sears Roebuck (: 26 Servél Inc (t1)._ 29 Sharon Steel (t1. 20) 95 Sharon Stl pt (5 91, Sharpe & Dohm 127 Shattuck F G (60¢)- 25% Shell Un O1l (a25c). 12Y% Silver King (b25c) .. 40 Simmons Co (b50c).- 3! Simms Petrol ._ 101 Sloss-Sheff pf (6) 16'4 Socony-Vac (b25¢) . 3% South Am G & P 30c 337 South Port Sug(12). 223 So Cal Edison t13§_. 423 Southern Pacific.... 24 Southern Ry- 45 Southern Ry pf..... 5% Sparks-Withing.... 2 ¥ 7 4 2 2 I.A:Ifl 00. High. Low. Close. chge. | High. Low. 5 34 3¢ 33 23 708 111 2 17% 2 9% 2103 8 % . 3008 100% 100% 1124 107 N Y Steam 1st (7). 1608 llD 110 108 103 10& 2915 1% 3 59 308 115% 11 40% Net | Prev 1037 33% 34 +.% 22% 23 110 110 1% 17% 17 -1 7 30% + 15% + 34% — b52% b62% + 9% 9% G/ 915 — 102K 103 8% + 7 30% 15% 344 FEFFFF £ 10‘/¢ 81% 44% 59 o 2 1% 11% 25% 33% 50 4% 19% 624 33% 16% 94% 1% 29% 44% 9% @ 387% 16% 9415 17% 2914 44% 9% 1% 11% 3 3% 112% 114 19% 19% 178% 138% 17% 4% 38% n 21% 79 175% 22%, 113% 40% 50 26% 67 100% 111 281 9% 3% 44 ++++ +E+ | - I Lo 156 11 O, ) 35% 24% 3% 91 35 8% 46% 16 15% + 1+ + 137 15% T2% 84 75 USS: 131 b o (018 18, 5 I R 13 91 92 113, 114 8319 57% 167% 170 Z'IVA Il#:ghl+ & 78 FaE FESF 81 +++ 1 - 294 - 102 11% 133 29% 141 463 38 101 181y 37w 3413 2415 53 38 49% 5 124 13 115 40% 31 91 I+++++1 o 10:00 A.M. 12:00 Noon. 38% 49% 6 (S N d Companies x Ex dividend. NEW YORK COTTON By the Associated Press. NEW YORK, May 27.—Cotton was dull but steady today on moderate foreign and trade buying while offer- ings were scarce. The market lacked fresh features and most traders were on the side lines awaiting develop- ments. October moved between 12.64 and 12.67, and in midafternoon was selling at 12.65, with prices generally 4 to 7 points net higher. Futures closed steady. 11 to 18 higher. bon Nz' Otlunl Prices. NEW May 27 (®.—Cotton opence sceedy. and slightly higher today. Trade and other buying was induced by better cables than expected. First trades showed net gains of 3 to 5, points, The ‘breaking of the drought in the Nation's “dust bowl” apparently was ignored. as Were other favorable weather advices. July opened at 12.58, October at 12.62. December at 12.68. Janu- ary at 12.71 and March 12.75. Near months continued in moderate demand affer the start and toward the SR 708 the“hirst half- novr Juls "and Goc tober were sellinz at levels 6 points above the previous close in quiet trading. Cottonseed oil opened steady: 9.31b: September. 9.39b: October. December. 9.33b; January, 9.33b. b—Bid. INTER-BANK DEPOSITS CUT FURTHER IN WEEK By the Associated Press. NEW YORK, May 27.—The shifting of funds between member banks of the Federal Reserve System cut further into interbank deposits during the week ended May 19. Financial quarters pointed out that for more than a month country banks reduced balances with their city cor- respondents preparatory to the boost % | in reserve requiremetnts. The continuation of the decline after this date is attributed to an in- crease in demand for loans outside big cities. Interbank deposits of domestic banks reported by the Federal Reserve . Jard compared as follows: Week ended May 19..__$5,115,000,000 Previous week __._ 5,182,000,000 Same period last year.. 5,475,000,000 DIVIDEND IS ORDERED. NEW YORK, May 27 (Special).— Directors of Briggs & Stratton Corp. have declared the regular quarterly dividend of 75 cents a share on the capital stock, payable June 15 to stockholders of record Juns 5. 6314 Sterling Prod 13, l0 17% Stewart-Warn t50c. 14% Stokely Bros (t1) . 19 Stone & Web(a25c). 13Y% Studebaker Corp.._ 65% Sun Ofl (t1).___ 40% Superheater (1’/&) - 4% Supertor Ofl__. 23% Swift & Co (11.20) 30% Swift Internatl (2). 15% Symington ww b10a. 11% Symington xw bl0e. 10% Tenn Corp (a15¢c) 50% Texas Corp (2) - 6% Texas Gulf Prabc 35% Texas Gulf Sul (12) 11% Tex Pac C&O bl0c.. 10% Texas P L T (al0c). 5% Thompson Starrett. 165% Tide Wat As Oil 80c 91% Tide Wat A O pf 434 Timken-Detroft(t1) 60% Timk’'n-Roll Brg(3) 13% Transamerica t40c_ 13% Trans Wst Air a26o. 8 Tri-Contl (ab0c) __. 33% 20th Cent Fox b50c_. 42% 20th Cent F' pf(1% 16% Twin Coach (bl5c). 2% Ulen & Co 76% Und-Ell-Fish b13 __ 95 Unton Carb (3.20) __ 23% Union O11(Calif)1.20 148% 126% Union Pacific (6)__.. 99% 90% Union Pacific pf(4). 23% Utd Aircraft(as0c). Utd Alr Lines a20c_. 195 Utd Am Bosch 69% Utd Carbon (4).___. 29 Unit-Carr Fast(12). 412 Utd Corp (a20¢) ... 37% Utd Corp pf (3) 12% United Drug (b25c). 1814 Utd Dyewood (1) _. 96% Utd Dyewood pf(7). 5% Utd Elec Coal ____. 46 Utd Eng & Fy (12)_. 77 United Frult (13) 12% Utd Gas Imp (1).. 113". 108 Utd G Imppf (5)__. 16% 6% Unit Paper’bd b30c.. 20% 11% U S Distributins pf. 530 347% 17 U S Freight (t1)._. 105'% U S Gypsum (12) 6% U S Leather vtc.... 52 USPipe & Fdry(3) x 10 US Realty & Imp._. 44% U S Rubber____. U S Rubber 1st pt. 79 U S Smelting (b4)_. 67% U S Smelt pf (3%)_. U S Steel pt (7) 6% Unit Stk Yds (600)- 3 Utd Stores (A) . ) 2! Util PWw&Lt (A)(d). 112 Vadsco Sales Corp.. 26 Vanadium Corp 21% Va Iron C&C pf 70 Vulcan Detin (b3)__ 3% Wabash (d). Waldort Sys(t1.2| 26% Walgreen Co (2) 114 Walworth Ca_ 5% Ward Baking (B) 11's Warner Bros Pict 4313 Wesson O&S (150¢c). West Penn El1 A (7). 87l West Penn El pf(6) reported 1in receivership or FINANCIAL. Stock and Dividend Rate. Sperry Corp vtc(al) 281 Spicer Mg (a7). 45% Spicer pf A (3) 19% Splegel, Inc (1).. 85 Splegel cum p!(t%) 37% Square D (B) b25c._. 12% Stand Brands(t80c) 7% Stand Com Tobac.... 5% Stand Gas & El (d)_ 15 Stand G&E $4 pt(d) 2% Stand Inv Corp____.. 40% Stand Ofl Calif(t1). 42 Stand Oil Ind (1) Adfl 00. High. Low. Close. fihl& 185 18% 18% — % 30% 30% — 3% N €010 = 1= €5 00 00 50 19 55 1=t 19 00 14 09 83 1 — - - » OB HOE NN~ SN AR A RN DD D aRW 1N ~ T4+ ++101+1++1 1 4+++1 o mw A+ L+ - LRl o i o) o 8 Carmsuntantnwdemnaalne |+ 441 YT U +1 308 208 West Penn El pf(7) 110s 115% 1105 West Pa Pwr pf (6). 8's Western Maryland .. 7% Western Pacific pf.. 5414 Westn Un Tel (3)__. 417 Westing! 130% Westhse Elec (b2)_ 143 West'se El 1st pf b2 19 Westvaco Chlor (1) 30 Westvaco5%pf 115 38 Wheeling Steel___.. 217 White Motor_ 27} White Sew Mch p!‘. 44 Wilcox Oil & Gas. 8% Wilson & Co (50c) .. Wilson & Co pf (6) - 4414 Woolworth (2.40)_ 32!3 Worthington Pump. Worth Pump pf(A). 6815 Wrigley W Ir (13)_. 487 Yale&Towne(160c). 20% Yellow Tr & Coach_ Yel Tr & C pf(b1%) 101% 75! Ygstn S&T (b76c) . 99'2 Ygstn S&T pf (5%). Zenith Radio (b1) 5! Zonite Products Approximate Sales of Stocks on the N. Y. Stock Exchange. 150,000 108 A BQ) 5% — Total Sales for the Dly Dividend rates as given in the above Payments basea on the iatest quarterly or half-yearly declarations, s Unit of trading less than 100 shares. not fncluding extras. table are the annual cash t Annusl rate— b Paid this year, being reorganized. aPaid last year. Treasury Plans $50.,000,000 Bill Issue on Frlday By the Assoctated Press. Secretary Morgenthau reported to- day a $50,000,000 discount bill issue Friday will be the last Treasury bor- rowing until its quarterly financing June 15. The bills Friday will be the seventh consecutive weekly issue, bringing to $350,000,000 such obligations issued in anticipation of third-quarter tax receipts next September. At $483,503,204, the Treasury’s cash working balance now is at the lowest level in more than four years. DIVIDEND SHARES ASSETS INCREASE $41,809,347 on April 30 Compared With $35,070,272 Reported on October 31, 1936. Special Dispatch to The Star. CHICAGO GRAIN By the Assoctated Press. CHICAGO, May 27.—Stimulated by extreme scarcity of corn available to be delivered under Board of Trade rules, the corn market today rose abruptly 4 cents for contracts as far distant as September. With demand urgent to an extent rarely equaled, contract grades of corn ready to be used at once commanded 13 to 14 cents a bushel over Pprices for July delivery. This was for ordinary commercial grade, No. 2 yellow. At the close, corn was 233a4 above yesterday's finish; July, 1.253%; Sep- tember, 1.141; December, 83 a83%; Wheat unchanged to 12 higher; July, 1.18%al.18%; Sepumber. 1.167al1.17, and oats, 1%4a21; up. Qpen. Hish. Low. 11712 1.1813 1.163 6% 1 Corn: July (new) July (old) 8ep. 1 1.67% T 1284 NEW YORK, May 27.—Total assets | 8¢ of Dividend Shares, Inc., with securi- ties at market were $41,809,347 at pany’s report for the six months ended today. This compares with «otal assets of $35,070,272 on October 31, 1936. Se- curities which cost the company $26,- 502,450, had a market value at April 30 of $37,772,837, indicating an un- realized appreciation of securities of $11,270,387. Net income, including proceeds of regular stock dividends and rights s0ld, but excluding security profits and losses, amounted to $696,055.34 for the six months, while net profits aris- ing from the sales of investments aggregated $2,108,809.33. Two quar- terly dividends aggregating $1,237,- 304.97 were paid during the first half of the company’s 1937 fiscal period, of which $526,788.37 represented a dis- tribution from profits arising - from sales of investments. Net asset value per share on April 30, 1937, was 25.41 per cent higher than on April 30, 1936. Alabams Great Southern R. R— April net railway operating income was $134,450, sgainst $66417. In 4 manths net rallway operating income Was $474,657, against $231,886, ) April 30, forwarded to stockholders o April 30, 1937, according to the com- Be Chicago Cash Market. Cash wheat, no sales. Corn, No. 2 yellow, 1.38-39; No. 3 yellow, 1.36-37; No. 4 yellow, 1.34-35; No. 1 white, 1.38; No. 2 white, 1.37-39; No. 3 white, 1.371,-38Y,; sample grade, 1.27. Oats— No. 1 white, 56; No. 2 white, 541-55; No. 3 white, 54-541%. Rye, No. 1, 1.17%,. No buckwheat or soybeans. Barley, feed, 65-75; malting, 1.00-20. Timothy seed, 4.25-50. Clover seed, 23.00-30.00. Baltim Qlohthnl. BALTIMORE, May 27 (P.—Wheat. 2 red Winter. garlicky. spot, dameul: 1.39; May. 1.30. Zinc Apol and ’future. | n. aluminum. Antimony. Trol auickstiver, platinum and woitramite un- | changed. RUBBER FUTURES. NEW YORK. May 27 (P.—Crude rubbe hied easy. 28 to 30 Jower. July: i'\')f%finuuw. 20.89-60; December, 0.6-70 ), { STOCKS REGISTER UNEVEN ADVANC Move Forward Fractions to Point or More, With Volume at 600,000. Stock Averages tndgs. rils UM 600s +.4 unch +.1 423 615 423 674 43.0 66.6 47.0 615 540 753 409 654 53.7 728 Net change. Today, close 92.4 Prev. day... 92.0 Month ago.. 90.1 Year 1937 1937 1936 1936 1932 1929 1927 436 43.7 43.6 34.7 495 .5 378 high .. 993 435 low 734 302 434 55.7 17.5 8.7 239 169 146.9 153.9 184.3 157.7 low ... 51.6 953 618 61.8 (Compiled by the Associated Press.) BY VICTOR EUBANK, Associated Press Financial Writer. NEW YORK, May 27.—The stock market crept irregularly forward frace tions to a point or so today, but selling in the final hour took the edge off improvement in some sectors. From the start, when slight losses ruled, trading was timid. As the session progressed buyers nibbled at scattered specialties, steels, motors and coppers, but Wall Street's ap- petite was neither robust nor uniform. Buying power in the morning and most of the afternoon was attributed by analysts to encouragement at the market's recent steady performance in the face of strike news among independent steel companies. Transactions totaled about 600,000 shares. In demand most of the day were United States Steel, Bethlehem, Chrysler, Goodyear, United States Rubber, Montgomery Ward, Sears Roebuck, International Harvester, Boeing Douglas Aircraft, United Aire craft, Western Union, North Ameri- car, Electric Power & Light, Kenne- cott, American Smelting, Standard Oil of New Jersey American Can, General Electric, Allied Chemical, Santa Fe, Anaconda, Loews, Johnse Manville Borg Warner and American Banknote. Oliver Farm Equipment gained briskly on report of good earning: in the first four months. Issues which lacked stamina were General Motors, Woolworth, Deere, American Telephone, Consolidated Edison, Texas Corp., New York Cen- tral, Great Northern preferred and Southern Pacific. Corn ended 2% to 4 cents a bushe) higher, some contracts jumping the full allowed limit at t..mes Wheat finished unchanged to !, cent up Cotton was steady. The French frane and pound sterling lost a little. Bonds * were mixed. Arresting attention in brokerage cir. cles was the accent put by some ob= servers on sharp increases in installe ment selling during the past siy months. This, analysts said, has re sulted in a sizable flow of part-pay- ment merchandise into the hands o consumers. Should installment sales gather to¢ rapid momentum, a temporary lete down in distribution of such products as refrigerators, radios, motors and household equipment might follow some believe, UNITED FOUNDRY GETS ORDERS FROM JAPAN B3 the Associated Press PITTSBURGH, May 27—Tht United Foundry & Machine Co. an- nounced receipt of three orders foi steel mill machinery from Japan. One is for a four-high reversing 42-inch cold strip mill from Toyc Kohan Kaisha, Ltd, which also or- dered tin plate processing equipment The Furukawa Denki Kogyo Co was sold a 32-inch four-high cold mill and two 56-inch four-high colé mills and auxiliary equipment for the production of non-ferrous products such as copper and brass, in sheet and coil form. United will build two stands of two- high mills, one 84-inch and one 65- inch, for the hot and cold rolling of aluminum and magnesium alloy sheets for Sumitomo Kinzoku Kogyo K. K — FINANCING PLANNED BY SOCONY-VACUUM By the Associated Press. NEW YORK, May 27.—Socony- Vacuum Oil Co. expects to undertake new financing soon, John A. Brown president, told shareholders at the annual meeting today. He pointed out the company had been spending substantial sums fos capital improvements and said it was in the best interests of shareholders to continue the program. Earnings for the first three months, Brown said, were estimated at aboul $12,900,000, against $7,160,000 for the comparable period last year. Th¢ gain in profits, he noted, was in com- mon with the trend shown by most oil units. He added, however, the in- dustry was faced with rising operating oosts. AIR TRAVEL JUMPS WELL ABOVE YEAR AGO Ky (he Astociated Press The Bureau of Air Commerce re- ported today the 20 airlines in opera. tion carried 76,199 passengers during April, 1937. This compares with 71,449 passen- gers carried in April last year. A total of 540,310 pounds of express was transported last month. Miles. flown totaled 5,350,093. In April a year ago 483,503 pounds were claimed over 4,884,556 miles. NEW STOCK PLANNED BY NATIONAL GYPSUM E) the Assoctated Press. NEW YORK, May 27.—Melvin H. Baker, president of National Gypsum Co. of Buffalo, N. Y., in & letter to stockholders said plans to issue a part of its 100,000 shares of new no par cumulative preferred stock to retire present senior securities have been held in abeyance pending improved conditions in the investment market. CEMENT CHIEF QUITS. CHICAGO, May 27 (#).—The resig- nation of Edward J. Mehren as presi- dent of the Portland Cement Associa- tion, effective August 31, was an- nounced at the association offices, Mehren said he needed all his time to° devote to private interests in the East and in Arisona. {