Evening Star Newspaper, June 1, 1937, Page 18

A—18 =xx FINANCIAL. BANKERS RETURN TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE By Private Wire Direct to The Star. now on daylight Bales— Add 00. High. Low, Close. 1 47 47 7 FROM CONVENTION === Election of A. M. McLachien Will Bring Presidency in Four Years. BY EDWARD C. STONE. ‘Washington bankers were back at their desks today after conclusion of the nineteenth annual convention at | White Sulphur Springs, having reached | the Capital about 10:30 last night aboard a Chesa- peake & Ohio special. The five-day session of the District Bankers® Associa- tion was consid- ered one of the most interesting and enjoyable yet held. The three sen- lor officers— Thomas J. Groom, Hilleary G. Hoskinson and Ord Preston—were moved up the ladder as anticipated. From a news standpoint the election of A. M. Mc- Lachlen was the most interesting, as this was really the selection of the association’s president four years hence. Mr. McLachlen is an official of the McLachlen Banking Corp., has been in the banking business for years and very active in association work. He is @ brother of Lanier P. McLachlen, President of the McLachlen bank and also a former president of the District Bankers’ Association, one of the young- est presidents the association ever had. Albert S. Gatley, vice president of the Lincoln National Bank, was hon- ored for the twenty-seventh time as treasurer. The Auditing Committee Which went over his books made spe- cial reference in its report to his “re- markable service to the association.” For more than a quarter of a century Mr. Gatley has kept the organization's financial affairs in fine shape. Owing | o his special ability, or to some other ¥2ason, he always reports a substantial basance at the end of the year Many Bank Presidents Present. There were many Washington bank | fresidents at the convention, includ- ing Francis G. Addison, jr. Security Bavings & Commercial Bank: Willard | G. Barker, Morris Plan Bank: Clar- ence F. Burton, City Bank; Robert V. Fleming, Riggs National; E. C. Gra- tham, Hamilton National; Ord Pres- ton, United Trust Co.: John R. Reilly, Second National, and John R. Waller, Tnternational Bank, Jackson place. Ernest E. Herrell and L. Burt Nye fwere on deck as usual. They hold the distinction of having attended all 19 of the conventions. So far as can be recalled. Francis G. Addison was the | only other representative there this | Sear who has not missed a single one | of these gatherings. The railroad arrangements were $gain in charge of James B. Edmunds, | cne of the finest passenger agents to | te found anywhere. Making much of | the trip down and back in the daytime | proved highly satisfactory to the dele- | @ates and guests. The golf trophy oflercd many years | Bgo by the late I. “Pop” Fleming, | while he was fimnmal editor of The | Ftar, was won this year by Luther E. Achreiner of the Dupont branch of the Familton National Bank. There is ;lways very wide interest in this tour- A. M. McLachlen. ament. Bankers Cheerful on Outlook. The general tone of the speeches at &he convention was cheerful. Dr. Wil- liam analyzed a host of economic | problems now facing this country “But I am not ready to sell lhcj United States short,” he said at the | end of his address. His talk caused | very wide and favorable comment aft- eiward. Tom K. Smith spent more time tell- tg what the American Bankers' As- sociation is doing for its members than to any discussion of the business Btuation. He did, however, have | quite a little to say about inflation fears which are too often heard. “I have confidence in the views of fhose economists who hold that recent $egislation has given Government au- &horities adequate powers to control Rhe situation, provided the necessary Bieps are taken. It seems to me that the danger is not that the regulatory [powers do not exist, but, rather, that =n uninformed public might prevent these powers from being used at the proper time. The answer to that, of course, is public education,” he as- serted. The A. B. A. chief made a special tiip from St. Louis to address the Capital bankers and his visit was much appreciated. The informal address of Gov. Mar- Einer S. Eccles of the Federal Reserve Bystem indicated unusual confidence I the future. As he has said many kimes, he believes that efforts must gonstantly be made to prevent ex- freme swings upward or downward and that in the attempt to keep eco- pomic, banking and business condi- Kions on fairly stable levels, the Gov- arnment will always have to take a more or less active part. This, he be- Kieves, can and will be done in the fu- ure in & way to prevent the re-occur- kance of 1929 conditions. Reports Showed Busy Year, The special reports of the auditors, #afe deposit and fiduciaries sections of Whe bankers' association showed an mspecially busy year's work. The report of the Advertising Com- Mittee, E. H. Thomson of the Wash- tngton Loan & Trust Co., chairman, reflected the steady recovery which as taken place in Washington in the past year, especially among wage amers and Government employes. e part of the report referring to istmas savings stated that 82,858 ¥nembers were enrolled this year, an ncrease of 8,551 over the previous The total subscribed is $7,343,050, hich not only exceeded the 1935 ‘hristmas clubs by $1,084,610, but 1so showed an average saving per fi:ih of $89, which is $7 higher than average amount put into Christ- Jmas savings clubs a year ago. At the “family dinner” J. Thilman Eendrick paid a special tribute to the 8ate Karl W. Corby, who was the head ! the association at the time of his ‘Weath. It is customary for the asso- kiation to give the retiring president B watch. As a memorial to Karl and &n appreciation of the planning which Mrs. Corby did for the convention, the mssociation presented her with a beau- tiful lady’s watch. Although she was not present to receive it in person, ® message was read expressing her deep appreciation of the gift. 4 —_— Large government expenditures con- tinue to increase industrial activity in Mexico. All New York markets al Prev 1937 Stock and High. Low Dividend Rate 46! Abbott Lab (11.60). 631 Acme Steel (4) 67'. Afr Reduction (11)_ 2% Air-Way Electric_.. 11% \laska Jun (t60c) .. 23y Alleghany Corp... 43% Alleg pf ww $30__. 33 Alleg Steel (b80c)_- % 19 Allen Indus 1) _. 258\-1 ZlK Allied Chem (6) 6 32 Allied Mills (b! 15 Allted Stores (b20c) 5813 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)_. 4 Am Brake Sh (12) 95t Am Can (t4) . 5012 Am Car & Fy (b2 Am Chain & ) 115 AmChain& Cpfb_. 3% Am Colortype _ *« Am Comcl Al a50c_. ‘s Am Crystal Sug b2.. 8's Am Encaustic 7'« Am & Forelgn Pw 37 Am & For Pw $6 pf_. 45 Am & For Pw $7 pf_ 182 Am & For Pw 2d pf_ 16% Am Hawaifan (1) ._. 612 Am Hide & Leather._ Am ome Pr(f2.40) < Am Interntl (as0c)_ 42'; Am Locomotive . 20%2 Am Mach & F (1) _. 9 Am Mach & Met 60c. 115 Am Metals pf (6) . 62 Am News (N Y) (3 81C Am Power & Light_. 43% Am Pw & Lt pf (5)_ 53 Am Pw & Lt pf (6)_ 0's Am Radiator 160c 1°% Am Roll Mill t1.20_. '« Am Seating (a2l)._ Am Shipbldg (2) 79% Am Smelt & Ref(3). 4875 Am Steel Fdry (b1) 1091: Am Steel F pf (7)__ 191 Am Stores (2) 21'y Am Sum Tob (11 160's Am Tel & Tel (9) .. ‘N 74's« Am Tobacco (5) 997¢ 745 Am Tobacco B (5) 15012 12814 Am Tobacco pf (6) .. 20 131 Am Type Founders_ 2913 16% Am Water W (80c) 107 94'; Am Wat W 1st p (6) 14% 8% Am Woolen __ 20 6% Am Zinc & Lead T9% 441z Am Zinc&L pr pt(5) 6912 474 Anaconda Cop 24% 1% Anchor Cap (60c) _ 46 40 Archer-Dan-M(12) 13% 7 Armour of Il1(b35c) 491: 81% Armour(Ill)pr pf 6 57!z Armstrong Cork(2) 10~ Artloom Corp 15% Assoc Dry Goo 114 Asso DG 2d p 93% Assoc Inv pf wiw(5) 6915 Atch T & S Fe( 97'; Atch T& S F pf(5) 4415 Atl Coast Line(al)_ 28 Atl Refining (11)___ 1514 Atlas Corp (80c) 5072 Atlas Corp pf (3)_ 70 Atlas Powder bl11j_. 113% Atlas Pwdr pf (5) 121 Atlas Tack (1) “x Auburn Auto 57 Aviation Corp 6% Baldwin Loco (d) ._ £6% Baldwin Loco pf(d) 5% Baldwin asd (d) __. 20°s Baltimore & Ohio 29% Barber Co (b23c) - ', Barker Bros 38 Barker Bros pf 2 2414 Barnsdall (1) 22'« Beatrice Cream t1__ 101% Beatrice pf ww (5)_. 12 Belding Hemin (1) 191 Bendix Aviat'n b 20% Benef Ind Ln (b 73 Be <) lehem Steel (bl 1813 Beth 5% pf (1) 51%; Bizelow-Sanf'd b1y, 2613 Black & Decker (1) Blaw-Knox (biic)_. 31% Boeing Airplane 40% Bohn Alum & B(3 24 Borden Co (1.60)_ 387¢ Borg-Warner 814 Boston & Maine _ 15 Bridgep't Brass(1)- 41'% Briggs Mfg (12) 41 Bristol-Myrs 12.40_. % Bklyn-Man Tr (4) _. Bklyn-Man T pf(6)- 34 Bklvn & Queens ___ 7ls Brunswicl 15°x Bucyrus- 1067« Bucyrus- &% Budd (EG) Mfg__ RBudd Wheel h2ie Burr Add M (80c) Bush Terminal Bush Terminal deb sush T Bldg pf cod "2 Butler Bros (60c) 28 Butler pf (1%) Butte Cop & %(a&c). 207 Byers (A M) . _ 6T Byers (A M) pf_ 27 Bvron Jackson (£1). 37 Calif Packing (1%) 2% Callahan Zinc-Lead 12 Calumet&Hec bisc.. 26 Campbell Wy (1) 25'x Canada Dry G Ale. 12! Canadian Pacific 48 Cannun Mills(b50c} 1414 Cap Adm (A)(al1)_. 50 Cap Adm pf (A)(3). 100 Car Clin & O stp (5) 7 Carriers & Genb 5c. 116 Case(J 1)Co pf(7)_. 8513 Caterpillar Tr (12)_ 267 Celanese (b75¢) ____ 210613 Celanese pr pf A(7). 3613 Celotex Corp (b40c) 73% Celotex Corp pf(5) - '« Central Foundry 25'¢ Central R Rof NJ_. 101x Century Rib M b20c. 60 Cerro de Pasco (4)_. 14'; Certain-teed Prd 601« Certain-teed pf (6). 3513 Champion Pap (1) 108 Champion P pf (6)_. 547 Ches & Ohlo 12.80 _. 91 Ches& Oh pf A (4)_ 675 Chi & Est [11 pf (d) - Chi Grt West pf (d) Chi Mall Ord t1% _ Chi Mil St P&P (d) - 4. Chi M St P&P pf(d). 32 Chi& N W (d) _ 11': Ch1 & N W pf (d) - 21 Chi Pneumatic Tool 55% Chi Pn T pf b87%c._. 2!x Cht R 1 & Pac (d) .. 5'4« Chi RI&P 6% pf(d) 15% Chickasha Cott'n Oil 1214 ChildsCo 106! Chrysler Corp b314. 187¢ City lce & Fuel (2)_ 83% City Ice & F of 6 _ 6014 111 6874 100 1314 18% 32 3% r Tl 150s 111§ THE EVENING STAR, WASHINGTON, ving time, 74 163 308 1% 74 16%% 14 3 2 2 3 50s 33 8 108 26 13 23 10 1 103 8 12u 15 208 9 36 2 581 108 108 50 571 97 9 123 26 214 41y 4% 12% 24%, 5713 28 6 12 3 14 2 3 2 1744 12% 59 111'9 5 19 508 I 1 6 1 4 9 | 141 32% Clark Equip(11.60)_ 3 105 Clev El [llupf 4% __ 108 Clev Graph Br (2)__ 3 4 122’& Coca-Cola (12) = 1 19'% Colgate-P-P(t50c) - 14 102'% Colgate-P-P pf (6) - .| 51% Collins & Alkn (t12). 5 19 Colo & South 1st pf_ 10s 114 Columb G & El(40c) 27 87 ColG&EDpfA (6)_. 2 31 Columb Pic vte (11) 111 Col Carb vtc (14) ___ 56% Comel Credit (14) __ 100 Comcl Cred pf (4%) 6315 Comel Inv T (14) __ 13% Comcl Solv (160c) . 27 2 Comw & Southern_. 47 36 Congoleum-Nrn(2)_ 1 80 Consol Cigar pf (7)- 10s 13% 8% Cons Coal(Del)vte._ 5 523 33 Cons Coal Del vtc pf 1208 49% 34 ConsEdisN Y(t2)_ 22 108 103 Cons Ed N Y pf(5) 5% 3 ConsFilm ____ 18% 12% Cons Film pt (12).. 9'% Cons Laundries. 14'3 Cons Oil (80¢) 20% Container Corp 1. 20. 21% Contl Baking (A) 275 Contl Baking (B) 87 Contl Baking pf(8)._ 50% Contl Can (3) 35% Contl Insur (t1. 60). 2 Contl Motors 393 Contl Oil Del lil)_- 26% Contl Steel (1) _ 1 6215 Corn Ex Bank (3)_. 20s 547 Corn Prod Ref(t3)_ 1 153 Corn Prod R pf (7). 2 157% 6 Coty Inc ____ 9 Th 56», 42'% Crane Co __. 18 46 121 113! Crane Co pf ('I) 16 116% 1057 104t Crane Co cum pf(5). 14 104% k] % Crane Co (rights) __ 349 # 87 29% Creamof Wheat(3). 8 31 4 1 i 2 12 45 116 103'% 103% —1ik W 30% 31 1571 +1% T — W 45 -y 116% + 1 e Prev. 1937 Stock and h. Low. Dividend Rats. 70% Crown Cork & S(2). 17 Crown Zellerb _ 108% 99 Crown Zell cu pf(5). 813% 51 Crucible Steel_ 1% Cuba Co __ 9 Cuba RRpf_ 813 Cuban-Am Su, 127 110 Cub-Am Sug pf(b5). 1008 43 37% Cudahy Pkg (2%4) .. 11 Curtis Publishing._. 87!% Curtis Pub pf (7). 5% Curtiss-Wright 16'; Curtiss-W (A)a50c_ 733 Cutler-Ham (b1) ___ 19 Davegacum pf 1% 174 Del Lack & West __ 6'x Den & RG W pf(d). 9% Det & Mackinac._ . _ 28Y% Diamond Match (t1 34% Diamond Mpf(t1%5) 2014 Distil Corp Seag .. 19% Dixie Vortex(134) . 38 Dome Mines (t2) 97% Dominfon Stores 47'% Douglas Afrcraft 2815 Dresser B (al) __ 148'; Du Pont de N(b2%). 2112 Duquesne st (5) ._. Sastern Roll Mills 4 11 @ o S e PTarB o=tk R raRaan [ 5 jastman Kod pf(6). 31% Eaton Mfg (2) _ 11l Eitington-Schild 21% El Paso Nat G 1.60 34% Elec Auto Lt 12.40 9% Elec Boat* (a60c) 4% Elec&Mus 1 (al8e) . 15% Elec Pow & Ligkt _. 9 Elec Pw & Lt $6 pf_. bl Elec Pw & Lt $7 pf_, k Horn Coal (d) '2 Endicott-John (3) ) B 2 Hhmhea=Te SR LT A N A B S rie R R 2d pf_ ureka Vac 1Rflc) —— vans Prod (11) 3% Exchange Buffet. 20% Fairbanks Co pf . 49'2 Falrb'ks-Morse (1) 3 Fajardo Sugar (b2)._ 19% Federal Lt & Trac - 7 Federal Motor(40¢c). 5'; Fed Screw Works.__. 312 Fed Water Sve A 6 Fidel Phoenix t1.60. Firestone T&R (2) - 40 First Natl Strs t2% 29% Flintkote Co (1) __. 46 Florence Stve b50c_. 6% Follansbee Bros(d). 473 Food Machine (1)_. 3813 Foster-Wheeler 106 Foster-Wheeler pf_. 10 Francisco Sugar __. 24'% Freeport Sulph (1) 4% Gabriel Co (A) 22 Gamewell Co « Gar Wood Ind aSic. > Gen Am Trans (a3). en Baking (+60c)_. ien Baking pf (8). Gen Cable Gen Cable (A) 975 Gen Elec (hi0c)_ 36 Gen Foods (2) ____ 113 Gen Gas & Elec(A)_ 60 Gen Mills (3) _ 117 Gen Mills pf (6) _ 5414 Gen Motors (b11,) 114! Gen Motors pf(5) __. 875 Gen Outdoor Adv __ 4213 Gen Outdoor Adv A 15'x Gen Print Ink new. 2 Gen Pub Service _ Gen Realty & Util .. Gen Realty & U pf. Gen Refract (b2) Gen Steel Cast p Gillette S Raz (1) Gillette SR pf (5) .. 0'% Gimbel Bros = 8275 Gimbel Bros pf(6) 41 Glidden Co (12)_ 4'% Gobel (Adolf) 53 Goebel Brew (120c) . 31 Goodrich(BF) bi0c_ 79'; Goodrich pf (5) _ __ 274 Goodyear T & R bl_ 100 Goodvear cu pf(5)_. 90% Gotham S H pf (7) 3 Graham-Paige_ 4 Granby Cons Granite City St1(1)_ 40% Grt Northern pt____ 19 Grt Northn Ore (1)_ 343 Grt West Sug 12.40. 135 Grt Wst Sug pf(7)_. 29'5 Green H L (11.60) 12% Greyhound (t80c) 2! Guantanamo Sug.. 47 Gulf Mobile & N of. 1313 Hall W F Print____. 25'3 Hamilton W (b65c). 9% Hanna (MA) pf(5)_ 43 Harb-Walker (12) __ 1213 Hat Corp of Am 80c. 4 HayesBody ._.___ 101 Hazel Atlas G (15). 11% Hecker Prod (760c). 5% Hershey Choc (13)- 102'; Hershey Ch pf(t4) 2 Hollana Furtalig) . Hollander & Son(1) 4 Holly Sugar (12) __. Homestake (112) _ 140 Houd-Hersh A(21) 0t Houd-Her B (1114)_ '« Household Fin (4) ®8% Househ'ld Fin pf(5) 3 IS 2 [ S TN 96 ~ o a > AR—RRan®E o 020 T s 15'% Hudson Motor._. 3 Hupp Motor 2215 [linois Central 46 Illinois Cent pf A.. 62 11l Centlsin (4)_. 12% Indian Refin (a1)_.. 36% Indus Rayon (2) 96% Inland Steel (t4) f Inland St rts June ¢ 553 17% InspirationCop__.. 42 4% Insur Sh Md (b10c). 16 67 Inter Rap Tr vte(d) 1 41 Interchem Corp(t2) 2 4 107 Interchemical pf(6) 40s 4% Intercontl Rubbe: 2 163 Interlake Iron 5 Intl Agricultural 42 Intl Agriprpf(b3)_ Intl Bus Mach(t6) _. 99 Intl Harvester(21%) 87 Intl Hydro El A 613 Intl Mercantile 10 Intl Mining (b30c)- 55% Intl Nickel (b1)_. 16!y Intl Paper (A) 10% Intl Paper (B) 5% Intl Paper (C)_. 90% 1ntl Paper pf. 422 Intl Shoe (12) .. 31% Intl Silver_ _ 90 Int Silver pf 9% Intl Tel & Tel _ 20% Interstat Dp St b2% 1 Inter DSrtsJune8. 2514 Island Creek (2)___. 71 Jewel Tea (f4)__. 1 5 125 Johns-Manv (13)._ 11 136 120% Jon&L 7% pf(b1%). 80s 29 20 Kans City South 1 110 98% Keith-A-O pf (b1%) 10s 23% 161 Kelsey-H A (al%). 3 69% 51 Kennecott Copbl. 83 9% 51 Kinney (G R) Co 1 47% Kinney pt (al) 8l Kresge Dept Stores. 21% Kresge (S S) b60c._ 194 Kroger Groc (11.60) 1815 Lambert Co (2) - 17 Lee Rubber (50c) . 1% Lehigh Valley Coal_ 245% 17 Lehigh Valley R R. 137 117% Lehman Corp (13) 16 Lehn & Fink b623c 611 Libbey-Ow-F b75c 97 Libby McN & L(al). 25% Life Saver (11.60) 947 Ligg & Myers B t4_. 18% Lily Tulip (t1%)_. 5115 Link Belt (+2) 43% Liquid Carb (2.60) 6415 Loew’s Inc (12) 110 105'% Loew’'s Inc pf(6%)- 3% 2% Loft Inc . 5% 50% Lone Star Cem (3) . 10% 613 Long-Bell Lumb(A) 28% 21% Lorillard P (11.20)_ 147% 138% Lorillard P pf (7) __ 28% 19% Louis G&E A b37%¢ 99 86% Louis & Nash b23% _ 41% 29% Ludlum Steel (1) _. 302 MacAndrew&F (12). 27 McCall Corp (12) 14% McCrory Stores 1813 McGraw H P b27%e. 328 Mclntyre Porcu(2). 311 McKeesp’t Tin Plate 12% McKesson & Rob __ 123 McLellan Strs b75¢c- 423 Mack Trucks (11) 441 Macy (R H) (12) __ 45 Magma Copper (2) .. 815 Man El md gtd (d)-. 19% Manhat Shirt (1) .. 3% Maracaibo Oil Exp.. 10'% Marine Mid (t40¢c)._. 17 Market St Ry . 244 Market 8t Ry pr pf- 35 10s 60 6 24 1 208 2 o5 12 - RO 8310 89 O N e ) x 9 g Tann I 39 B OV ) 20 00 T b 0O 1O o - s 400 Bales— Add 00. 108% i 3 3 7 8 613 3% i 19 9915 61 114 9o Blg D. C, TUESDAY, JUNE 1, 1937. 4 19Y% 995 61 Net High. Low. Close. chge. 74 -1% =k —a% -y - % 1 % Prev. 1037 High. Low. 3074 2%‘ 11213 24% 1074 35 38 181% 44 6174 143, 1 9415 1097y 130 1 13 5T 109 100 37 413 Stock and Dividend Rate. 18% Marshall Field .. 23% Martin (Glenn) 7 Martin-Parry.. 54'% Masonite (t1) % Mathieson Alk 53 May Dept St (13) 9% Maytag Co (a50c) .. 855 Maytag pf ww (3)_. 25% Mead Corp.. . 9315 Mead Corp pf (6) ll'. Mengel Co ___ Mesta Mach (b23, Miami Copper - Mid-Cont Pet (b50c) Midld Stl Prod(t2) . Midld St 1st pf(8)_ Minn-Hon Ros (2)._. Minn-Hn R pf B(4).- Minn Moline Pow _. Minn Moline Pw pf_ Mission Corp (b1) .. Mo Kans & Texas _ 4 Mo Kans & Tex pf A Mo Pacific (d) Mo Pacific pf (d) __ Mohawk Carp(1.20) Monsanto Ch b7 Montg Ward (12) Morrell J (2.40) Morris & Esx (37%)- fother Lode al12 Motor Prod (b11.) . % Motor Wheel (1.60) _ Mueller Brass (+1)_ Murpty (G E) 3.20 % Murray Corp(asoc). Myers (F E) (b1) Nash Kelv (1) - Natl Acme (b2ic) % Natl Aviation (al)_. Natl Biscuit (1.60)_ Natl Cash Reg (1. Natl Dairy Prd 1.20 x Natl Dairy pf A (7) x 30s 4 Natl Dept Stores __ 3 Natl Dept Strs pf__. 340s Natl Distillers(t2)_ & Natl En & Stpg (2).. 3 Nat'l Gypsum Co___ 6 Natl Lead ft50¢) 6 Natl Mall & SCb50c 1 1l Pw & Lt (60c). 24 Bales— Add 00. 7 High. Low. Close. chat 24% 24 24% — 23% 38'% 115 108 108 110% 21 308 16 1 10 42 ’\alomas (180c) Neisner Bros (12) .. Newberry pf (5) New Orl T&M (d) __. Newnport Ind(b50c)_ N Y Air Brake (al)_ N Y Central NYCht&StL._ N Y Chi & St L pf N Y City Omnibus_. N Y Dock pt___ NYNH&H (d)__.. NY NH & H pf (d)_ N Y Ontarfo & W N Y Shipbuilding N Y Shipbldg pf N Y Steam pf (6) _. N Y Steam 1st (7)__ 3% 28 7314 40 41 10s 1408 1208 Norfolk & W'n (10). Norf & W pf (4) North Am Aviation. North Am Co(b: North Am Co pf (3) North Am Ed pf (6) 100 + Northwest T, Norwalk Tire & R__ Ohio Oil (b30c) Oliver Farm Equip_ : Omnibus Corp vte . Otis Steel Owens-111 Glass (3) Pacific Am Fish 1.20 Pacific Coast Pacific Coast 1st pf_ Pacific Coast 2d Pac Finance(11.80). Pac Gas & Elec (2)_ Pac Lighting (3).__ Pa Mills (b1) ___ Packard Mot (bl15c) Panhandle P&R pf._ Paramount Pic Paramnt 2d pf 60c__ Park Ctan 7 Parke Davis(h1.40). Parker Rust (1115). Parmelee Trans Pathe Film Corp _ Patino Mines(160¢). Peerless Corp Penick & Ford (b1)- Penney J C) (4) ___ Penn Dixie Cement_ Pa Glass ctfs h25c__ Penn Railroad (a2)_ Peoples Gas Chi_ Pere Marauette Patrol Corp(A) bioe Preiffer Brew bfilc_. Phelps Dodge bSoc_. Phila Rap Tr (d) Phila & Read C & I Philip Morris(b3%) Phillips Petrol'm 12 Picrce Oil pt Pilisbury Flour 1.60 ittsburgh Coal Pitts § Pitts Steel pf Pitts United Titts United pf__ Plymouth Oil b « Poor & Co (B) Porto R Am Tob Porto R Am Tob B_.. Postal Tel&C pf(d). 91, Pressed Steel Car__.. 2 Proctor & Gam(t2)_ Proc & Gamb pf(5)_ Pub Sve N J (2.60) . Pullman Ine (13%) Pure Ofl _ Pure Oil 6% pf(6) - Pure Oil pt (8)_ Purity Bak (60c) Radio Corp____ Radio pf A (314) Radio-Keith-Or (d). R R Sec 11 Cent____ Raybestos M (t134) Reading 2d pf (2) .. Rem-Rand (bise) - 13 Rensselaer & S(8)_. lsus Reo Motor Car . 4 Republic Steel _ 2 Revere Copper_ Revnolds Met (t1)_. Reynolds Tob (3) . 9 Reynolds Tob B (3). % Rutland R Rpf.___. Safeway Stores(12) Safeway Strs pf(5). Safeway Str pf(6) StJoseph Ld (7 St L-San Fran (d)_. 6% St L-San Fr pf (d) . Savage Arms (b2ic) 4 Schenley Dist bl _. Schenley f (5%) . Schulte R Strs (d) . Scott Paper (b65c) - 1% Seaboard Air L (d)_ 4% Seaboard A L pt(d) 4013 +1 91 22 208 3 1 96 1% 40 1w EEN FrEf€1 10010 Net % ‘ 4 —1%| 1 3 Y2 5415 11'% 95% 1% 13, 12'¢ B8l 56 | 102 100t 109 46% 1017 4014 9% not Prev. 1937 High. Low. 36% Seaboard O1] (1) Tix Seagrave Corp 8 5% Zonite Products____ Approximate Sales of Stocks on the N. Y. S(ock Exchange. 10:00 A.M 12:00 Noon. Dividend rates as given in the above table oasments basea on the iatest quarterly or haif including__exiras d Companies X Ex dividend. FINANCIAL. Stock and Dividend Rate. Bales— Add 00. High. 10 41 Net Low. Close. chge 397% 40 —1% 8% 8y R5l BG — Th 28% 28% — 7 29% 29% —1% 1% 1% — w | 138 1 987 287 mv 1045 + % 8y 15 10 Sears Roebuck (3)_. Servel Ine (1) _ Sharon Steel (11.20) 4 Sharpe & Dohm Shattuck F G (60:)_ Shell Un O1l (a26c). Shell Un Oil pf 6% Stlver King (b25c) Simmons Co (b50c). Skelly Oil (b50c) Sloss-Sheffield Stl Smith (AO) ___ Snider Pkg (b1%) 4 Socony-Vac (b25c) - Solvay Am pf (5%). outh Am G & P s0c » South Port Sug(t2) Sou Porto R 8 pf (8) 4 So Cal Edison 1% _. outhern Pacific Southern Ry _ Southern Ry pf_. 4 Spalding (A G) - pang Chal pf bl . Sparks- Withing perry Corp vtec(al) Spicer Mfg (a3) Spiegel, Inc (1)___ Spiegel cum pf(41) Square D (B) b2ic . tand Brands(180c) Stand Gas & E1 (d) - Stand G&E $4 pf(d) : Stand G&E $6 pf(d). Stand G&E $7 pf(d). Stand Inv Corp_____ tand Oil Calif (t1)_ tand Oil Ind (t1)_. tand OiIl N J (t1)__ tarrett L S(11.40) - terling Prod 3.80_ &= %) STOCKS GO DOWN IN'LIGHT SELLING Losses of Fractions to Two Points or More Are Recorded at Close. Stock Averages 0 Ir‘ldu! RAT il Um sts -4—1.3 424 419 43.7 423 457 447 349 472 495 54.0 378 40.9 435 Net change.. Today close. 90.9 Prev. day... 92.8 Month ago.. 93.1 Year ago... 82.4 1937 high ..101.6 1937 low. 885 1936 high .. 99.3 537 7238 1936 low 734 302 434 55.7 1932 low 175 8.7 239 169 1929 high ..146.9 153.9 184.3 157.7 1927 low ... 51.6 953 61.8 61.8 66.4 67.7 69.1 61.7 5.3 654 (Comptled by the Assoclated Press.) ed Press Fin NEW YORK, June 1—Light w'l 1! pressure nt to tu s fractions to more than 2 points in today’s market. Stewart-Warn tilc. Stokely Bros (t1) Stone & Web(azs Studebaker Corp Sun Oil (t1) Superheater (1 Supertor Of) _ ~ __, wift & Co (11.20) wift Internatl (2 ymington ww bloc ymington xw bl0c. Texas Corp (2) - Texas Gulf Prafe _ Texas Gulf Sul (+2) Tex Pac C&O bl0c _ Texas P L T (allc). Thatcher Mfg (1)_. Thermotd Co Thomps'n Prod bile Thompson Starrett. Tide Wat As Oil 80c Tide Wat AOpf4?, imken-Detroit(t1) Timk'n-Roll Brg(2) Transamerica t4(c . Trans Wst Alra2ic Transue & W (160c) Tri-Contl (a50¢) ruax-Traer(b25c) . + 20th Cent Fox bi0c_ 2 Twin City R T s Twin Coach (bl5c)_ Union Bag & P (2)_. Union Carb (3.20) . Union 0Oil(Calif)1.20 Union Pacific (6) Union P fic pf(4). Union Tnk Car 1.60_ Utd Aircraft(asoc)_ Utd Air Lines aZ0c_. d Biscuit (1.60)__ d Carbon (4) ____. d Corp (a20c) d Corp pf (3) ___ United Drug (b25¢). Utd Dyewood (1)__. Utd Elec Coal . ___ Utd Eng & Fy (+2)_ United Fruit (13) Utd Gas Imp (1) it Paper'bd b3oc._ U S Distributing pt_ US & For'n Secur U S Freight (1) U S Gypsum (t2)___ U S Hoffman_______ U S Indus Alcoh U S Leather vtc__ 'S Leather(A)vtc- Pipe & Fdry(3). Realty & Imp 5 Rubber_ Rubber 1st U S Steel ___ U S Steel pf (7 Unit Stk Yds (50c)- Utd Stores (A) ___ Univ Cyclops StI(1) Univ Leaf T pf (8) Univ Pictures st pt Util Pw&Lt (A)(d). : Vadsco Sales Corp._. Vanadium Corp__ Va-C arL hemical 6% pfbhlly n Detig (b3 ) Wabash (d) ___ __. V.abash pf (A)(d) Waldort Sys(11.20)° Walgreen Co (2)___ Walker (H) (2) Walworth Co _ Ward Baking (B)__. Warner Bros Pict__ Warner-Quinlan(d) Warren B = ‘2 Waukesha Mot (1) _ Wesson O&S (150c) West Penn E14 (7). West Penn EI pf(6) West Penn El pf(7) West Pa Pwr pf (6) West Pa Pwr pf (7). Western Maryland.. Western Md 2d pf__. 2 Western Pacific.___ Western Pacific pf_. Westn Un Tel (3) Westingh’se A B(1) Westhse Elec (b2) West'se El Ist pf b2 Westvaco Chlor (1) Wheeling Steel White Motor _ White Rk M S(1.40) Wilcox Oil & Gas __ Wilson & Co (50¢) __ Woolworth (2.40) Worth Pump pf(A). Wright Aero (al) __ s us Ls u uUs 1 10s 208 | the | far from their 1 { Telephone, rt and y was at a andstill. Lack of speculative an *] investment interest in recent said, had much to do w ing traders. In addition board rooms display more or less concern over the new Spanish cr g from the Ger= man bombardment meria, revival of rumors and the persisten among steel independents. Extreme declines were reduced al hour, but support was tim at the best and many issues closed w pot he day Transfers were in the neighborhood mn d of 750,000 shares. The President's m e to Congress effects Steels s, Tub- and spe= Steel town St New York Southern a , Yellow Txutk Lm ed States Gur/i\mr. Goodrich, Anacon- ,» Kennec > Pasco, Amer- ican Smeltir 1ps Dodge, Interna- tional Nickel, Standard Oil of New . Corp., Seaboard Oil, Pure Oil. Continental Oil, American Servi Harveste: CHICAGO GRAIN By the Associated Pre (m'r pr | higher today. e of the late buy of wheat | was associated with preparation for June un al crop estimates to be | issued here tomorrow. Late estimates of Canadian rt business placed today’s tof t 1,000.000 bushels. | At the 175 above 1.137g-1.14; September. corn unchanged 1.213;-1.217 1.09';, and oats 16.95 Chicago Cash Market. Cash wheat, no sales reported; corn, No, 2 mixed, 1.277:-28; No. 3 mixe No. 1 yellow, 1.28-28'.; No. 2 % Yale&Towne(160c). | Yellow Tr & Coach_ 87 Yell Truck pf b3 Young Spré& W(ts)- Ygstn S&T (b75¢) .. Zenith Radio (b1) B — 240,000 11:00 A.M. 20,000 1:00 P.M. Total Sales for the Day 440,000 580,000 early declarations T Annual rate— iast year b Paid this year TeCelvership or bemng reorganized nit of trading less than 100 shares. a Paid reported 1n N.Y.,S. & W. Files Petition Asking Reorganization By the Associated Press. i NEWARK, N. J., June 1.—The New | York, Susequehanna & Western Rail- road filed a petition in bankruptcy in Federal Court today to permit its re- organization under the Federal bank- ruptcy act. Judge William Clark ordered a hear- ing on June 28. The railroad said it was unable to meet two bond issues, the principal of one, totalling $3,744,000, came due last January 1, and another for $447,- 000 came due last February 1, the pe- tition said. NEW YORK, June 1 (#).—The New York. Susquehanna & Western is a subsidiary of the Erie Railroad Co., with & main line extending from Jer- sey City to Stroudsburg, Pa. BOSTON WOOL MARKET. BOSTON, June 1 (M (United States Department of Agriculture) —Interest in medium-grade fleece wools broadened to- day, Frequent inquiries were received and few mills made purchases, cen included country-packed lots of Ohio and Michigan fieeces of combing and clothing lengths three-eighths and one-fourth blood grades together at 39 to 407, cents in the grease. delivered East. Some "houses refused to take further orders at 40 cents and asked 41 cents. but some houses have turned down ¢1- cent bids, ent | December NEW YORK COTTON By the Associated Press. NEW YORK, June 1.— Cotton lost about $1 a bale today under liquidation promoted by nervousness over the European political situation and rains in the Western belt over the three-day holiday. October sold off from 12.62 to 12.54 and was practically at the low for the day in midafternoon, when prices were about 19 to 21 points net lower. Business was quiet, however, with traders awaiting developments abroad. Futures closea steady, 7 to 10 lower. High. Low Cl July 1978 October "~ December January March Cottonseed Oil. Bleachable cottonseed oil futures closed firm, 9 to 13 higher. Sales, 107 contracts, including 6 switches. July, 9.33; September, 9.36; October, 9.95b; December, 9.93. b—Bid. New Orleans Prices. NEW ORLEANS. June 1 (P.—Cotfon futured closed steady at net advances of 2 to 6 points. July October January " March 1383 R3 éotmnseed oii elosed sLead able prime Summer vellow . 9.45b: Sep: i December, 2 Teagle to Become Board Chief of Jersey Standard Bs the Associated Press. NEW YORK, June 1.—Walter C. Teagle, since 1917 president of Stand- ard Oil Co. of New Jersey, told stock- holders at the annual meeting of the company that, effective immediately, he would assume the chairmanship of the board. He will be succeeded as president by W. S. Farish, former chairman. The 59-year-old executive said he wished to be relieved of his present duties in order to have more time for special work. Reviewing his incumbency in office, Teagle told stockholders that the year preceding his election to the presi- dency the company's interests had | produced 9,658,000 barrels of crude | oil, while in 1936 the output was 206,- 356,000 barrels. METAL MARKET. NEW YORK. June 1 (#.—Copper steady: electrolytic spot and future. 14.00 ) spot and near- | Lead steady: . Louis. Steady: East St Louis. oot 6. Iron steady: No. 2. 1. 0. b. Eastern Pennsylvani: 00: B -00:" Alabama. 20.00. ninur pADtImony 5.00. 812 No. 3 yellow, 1.26- 1 white, 1.28-281;; 1.28-28'5: oats, No. No. 2 white, 5215-533;; No rye, sample grade, ¢ soy beans, No. 3 yellow, 1.5914-61 4 yellow, 1.56':; barley, feed, 6; nominal; malting, 1.00-15 nominal; timothy , 0 per hundred- weight: clover seed, 23.00-30.00 per white, 541 | hundredweight. re the annual cash | Winnipeg Prices. e 1 (7).—Grain ra; Previous close nge Close. 1 INACTIVE SECURITIES ‘WE INVITE THE USE OF OUR FACILITIES FOR FURNISHING QUOTATIONS AND INFORMATION ON INACTIVE OR OBSO- LETE SECURITIES. o JoHNsTON, LEMON & Co. MEMBERS WASHINGTON STOCK EXCHANGE SoutHery BLpa. DIst. 3060 i 0 " Quick- 750-R8.00. Platinum. 54,00 Woi- silv framite, 32.00;