Evening Star Newspaper, June 1, 1937, Page 19

FINANCIAL ‘CURB LIST MOVES - TO LOWER LEVELS Shares Give Up Fractions to $2 or More at Week’s Opening Session. By the Associated Press. NEW YORK, June 1.—Curb market shares gave up fractions to 2 or more points today. | Losers were Aluminum Co., Arkansas Natural Gas, Cities Service, Electric Bond & Share, Lake Shore Mines, Gulf Oll, Carrier Corp., Cooper Bes- semer, Hudson Bay Mining, Pantepec Oil, St. Regis Paper, United Wall Paper, Wayne Pump and Wright Har- greaves. Newmont Mining was down sbout 4. Atlantic & Pacific gained more than & point on announcement the com- pany would repurchase employes’ stock &t $90 a share. CURB BONDS DOMESTIC BONDS. High Low. Noon. L. 9312 93V, 9313 T 1065 10858 1081 1071 1071a a0iq 90V 10518 10234 10534 297y =101 e 10015 85 "85 o17 533 a5 91% 5313 . 1 06t 104 1013 ag 3 tG & E el Gs East G & P | Pw & Lt o ‘ 1001y Gary E&G 5 Gatineau Pw Gatineau Pw Gen Pb U 6las Georgia Pw ag ¢ S105t Intero Pw 6s In Pw A5 <] N L&P Iowa P&L 4' Kan Pw Co Kentucky U Kentucky U Ken U 615 Kimberly C 55 47 A Lehich P 8 A5 2026 A Libby McN&L Long 1Is Lt 63 ' s 47 G e L] TOR1 1081, 1 10535 10514 10 10011 100, 1013 10173, ath a6 10415 104 1083 10013 1017 10012 1001 10613 1061 a0y 47 C Prop GL&C 45 'SIB 5s '79 Pub Ser N J fis ctf: 13315 2 Pub S No Il 55 ‘56 11015 1101 10314 10 8ou Co Gas_Cal 4155 68 Souw L&P 5557 A Bouw Fb Svc As 45 A 25 Onit Lt&Pw s * Unit LI&Pw Biss 14% 10014 ARy T. 8. TREASURY NOTES. NEW YORK. June 1 (.—Prices quote: tn doliars and ihirty-seconds: > oUored Per Approx. sked.yield. FOREIGN EXCHANGES. NBW YORK, June 1_(#).—Foreij ehange mixed: Great Britain in dollar: in cents. Great Britain deman 238 60-day bills, 4.9 nce dem. : cables. 4.45 aly demand, 5.26Vs; cables. 5.28! Demands—Beigium, ' 16.86; fee 40.13; Fegistered. 20 Holland. 84 95: n ex- ede Span. unatoted: Partu: .81: Spain. unquoted; Portu- sl 4.4912: Greece. 0.91: Poland, 18.9 Baechosiovakia. - 5400 Yuge L Austria 18.75n: Hingary, 19.80: Rumania. 0.75: na. 32.87n! Brazil, 8.801 Tokio. 28.73: Shanghal. 20 0.46; Mexico City. 27.R5: New York. 100.00: New York 85 Montreal in 0: Hongkong, in M 100.00. n—Nominal. ARieal e TRANSIT REVENUES UP. NEW YORK, June 1 (#)—The Transit Journal reported revenues of the industry in the week ended Msy 22 were moderately increased over the same week last year, lifting its index 3.73 per cent to 103.73, — Inspiration Consolidated Copper Wit | Celanese 1st 17 2 [ Cellul'd 1st pf b2 on which the Exchange is 2:30 Stockand Sales— Aero Supply B insworth b25c. Air Investors Afr Investcv pf Ala Gt South (3) - 50s Alabam Pw pf(7) 140s Aluminum of Am 250s 1. Alum Goods b25e. Aluminum Ltd_ Am Box Bd b4jc_. Am Centrifugal __ AmCP&LAWW23, AmCP&L Ba2le Am Cynm B {60c. Am & For Pw ww Am G&E (1.40)__. Am G&E pf (6) Am Gen (a50c) __. Am Hard Rubal_100s Am Laund M 80c_ 1 AmL&Tt1.20__. 8 Am Mfg (a3) 258 Am Maracaibo __ 14 Am Meter (b75¢c). i Am Superpower .. 13 Am Superpw: Angostura (2 Appalch E P pf Arcturus Radio Ark Nat Gas_ - Ark Nat Gas (A)_ Ark P& L pf (7)- Art Met W (80c).. Ashland Oil t40c_ AsEI Lt b36 2- Asso Gas & Elec_. AssoG& E (A) - Asso G & E $5 pf_ Atlas Corp war._. Axton-Fisher A__ Bald L bd rts(; 5 1008 1 2 3 1 3 12 2 8 408 Barium Stain 5 3 Ba'n L7% 1sta7_.-25s Beech Aircraft . 3 Bell Tel Pa pf 615 208 Rerkey & Gay ___ Berk & Gay war . Rickfords (1.20) . Bliss (EW) __ Biue Ridge cv 3 Bohack (H C) Bohack HC 1st pf Bower Roll B(2)_ Bow'n-Bilt 2d pf . Brazil TL&P bioc Breeze Inc(aisc). Bridgpt Mch b25c Bright Star E1 B_. Brill Corp (A)_ Brill Corp (B) Brown F&W b3oe Brown F&W A 2 Brown Co pf - 10508 Buckeye P L (4)_ 2008 Cable&Wire A 1 255 10s 4 L 5 6 Tl 11 ) | 2 1 Can Marconi : Carib Synd(b30e) letals . Carrier Corp co Prod b2 3 tlin (at0c) 258 1 1008 10s 1 1 uloid pf Cent Oh Stl bio0e Cent P& L 7% pf (b3.06%) . Cent States Fl Centrif Pt40c___. 8 Cherry Burl (4) . 50 Chesebrough(14). 50s 1 Chi Flex Shft (4). 508 Chief Con Mining 1 Childs Co pt 2258 Cities Service____ 24 CitiesServpf.___ 1 Cit SV P&L $6 pf_ 508 Cit SVP&L $7pf_ 508 City Auto (60c) Claude Neon Lits_ eve Tractor Club Aluminum__ Colon Dev Litd __ _ Colon Dev 6% pf_ Colo Fuel&l war_ Colts P 1 A b7 Col G&E cvpf(5)- | Co1 0 & G b20c Col Pict (+1) Comwlth Dist_ __. Comwlth& S wr. Comunty PS {1._, Comp SM ste 11 Cons Aircraft _ Cons Biscuit 60c.. Consol Copper_ _ C GEL&P Bo 3.60 Con G Bo pfA(5). Cons Gas Util __. 3 Con Mir mt2_. 2008 Consol Steel __ 3 Cooper Bessmer _. Copper Range __ Copperweld 11.20 Corp = Corroon & Reyn_. Cosden 01 Creole Pet = Crocker-Wh aloe Croft Brewing .__ Crown Cent afic__ Crown Dr (h20¢)_ Crown Drg pf 1% Crystal Oil R pf Cusi Mex Mining_ Darby Pet (50¢)_. Dayton Rubber _ 2 Derby Oil & Ref_.§ Detroit Gask t1_. Det Gas pf 1.20 _ Detroit Gr I (n) L 3 30s 1 10 4 15 50s 3008 17 Domin Steel ___.|§ 3 Dow Chem (73)__ W 11 Dubelier Conds__.@ 2 Duro Test (40c)_. @& 1 Duval Tex a50c.. % 1 agle P Ld b20c_.™ 8 stn G&F Asso_ 3 50s 1 Fasy W M B b2ic 1 isler Elec (a5c). 12 ElBond & Share_. 60 Flec B&S pf(5) - 1 EIB&Spf(6) . ' 3 EIP&L2dpf A__. 208 Jlectrol Inc vtec. Emp Pw pt b3 ¥msco Der Fansteel Metal. Ferro Enam b7jc. Fiat cts (a931z¢). Fidelio Brewery _. ‘ire As Phila 12 . 208 2081 2 Fla P&L pf_ Ford(Can)A(1)_ Ford Ltd b21c __. Fox(P)Brew 80c_ 2 Froedt (20c) ___. 2 Froedt cv pf 1.20_ 1508 Gen Alloys _____. Gen Fireprf b25e¢. Gen Invest Gen Tele (b25c) Gen Tel ev pf (3). Gen Tire & Rub _ Gen T&R pf A(6) Georgia Pw pf 6_. Glen Alden (t1) Goldfield Con%ol .. Gorham vte (1) - Grand Natl Fims. Grand Rap V (1) Gray Tel P S (1) Grt A&P T nv 16. 2108 Grt A&PT 1stpf7. 50s 1. Greenfield T&D_. 1 Groc Str Prod._. Gulf Oil (b25¢)... Harvard Brew Hat Corp B 80c... Hearn D S b1.65_. % Hecla Min b45c_.." } Helena Rub'st'n._. Heller pf ww 1% . 100 Hewitt Rub b50c.. Heyden Ch (12) _. Hoe & Co Inc(A). Hud Bay M bi5c.. Humble Oil(1%). Hygrade Food P_. Illinois Iowa Pw_ Il Jowa Ppf2ig_ Il Iowa Pdctfs_. Imp Oil Litd t50c. Ind Pipe L b30c__ Indus Fin vte. Ins CoNo Am t2_ Intl H&L Ltd ____ IntlHES A war. Oo—Company has lowered wages of miners 25 cents a day. A Intl Hy EI S pf. Intl Pete~(114) Intl Products____ Dividend Rate. Add 00. High. 2 4 3% 141 3% 27 7819 68 67 48 17 11 20 33 341y 3% 317 2'y 32 a7 19% % 313 114 2% 1ia 13% 147y 3 14 24 1t 138 220 481 00 15% 14 9 17 63 1's 9% Rig 701 701 14 114 i 2 79 101 241 11 32y s 5% 15 338, 13 2 3% 18 29 129 3% 3y Y% b% 8 8 19 1”% 6 44 5814 4 % 21 14 3814 13y% * Tl 3815 13% * kot All time shown below is daylight saving ating. . Low. Close. 3% 14' 3% 27 7815 67 147 147 Alum Am pf (6)_.1008 117% 117% 117% iy 109 109 16% 4% 80 34 114 9k 701y 114 213 79 104 24% 11 324 3 5% | 1% 333 | 13 P 2 3% 384% 13% k3 % 1% 111% 111% 13% 42 2313 67 10t 113 18 13% 23% 14 13 55% 35 64 6% _ 63 | ¢k, o securities assum 13% 42 2313 6% 10y, b 28% 35 THE EVEN. NEW YORK CURB MARKET By private wire direct to the Star. 2:30 Stock and Sales— Dividend Rate. Add 00. Intl Util (B) - 3 Intl Vita (50c) __ 1 Interst P Del pf__. 40s Inv Royalty téc_ 1 Jacobs Co (b50c)- 8 Jer CP&Lpf6__. 208 K-RT&L b3T6c... 1 Kinge CLpf B7_ 108 Kingston Pr 40c_. Kirby Pet (20¢)__ 5 Kirkland L G 6c_. & Knott Corp bloc_. L Kreuger Br (t11)..¥ Lake Shore (4)_. Lefcourt pf a76c_ Leh Coal&N 30c_. Leonard Oil__ High. 1% o o BE RO~ RaB S w2 Locke St1 C 80c_ Lone Star G 80¢__ Long Island Ltg_. Long ILpf A(7). Louisana Ld 40c_. McCord Rad (B)- Mangel Stores __. | Margay Oilas0c_. 4 Massey Harris___ * Master Elec (1) - Merritt Chap & S Merritt C&S pf A. Mesabi Iron Mex-Ohio Oil Mich Bumper ___ Mich Gas & Ol ___ Mich St1 T P b2ic Mich Sugar__ Mich Sugar pf_ Mid Sta Pet (A)_. ¥ Mid Sta P vtc(B). Midl'd Stl Prod 2 Midwest OIl(f1)_. 10 Minn M&M b40c _. 4508 Mock Judson 60c_ Molybdenum____. Mont Ward A(7)_ Mount C (a21c) _ Mount Prod (60c). Nat Auto (b1)_ Nat Baking .. Nat Bellas Hess_. Nat Contnr (1) __. } Natl City Lines atl City L pf 9 at Fuel Gas (1). # Nat Leather u Nat Rub M a20 Nat Sugar N J(2). Nat Union Radio_ New Hav Cl115__ NJ Zinc (12)._- 2008 New M&A Ldale. 2 Newmont (3)____ N Y Tel pf (6%)_ 2008 111% NY Shipbldg_.__. NY Water Sv pf_ Niag Hud Pw(n)_ Niag S Md Bab(c Niag H P 1st pf 5. Niles-Bement(2)_ Nipissing (50c)__ Noma El (b40c) - North Am L & I’ Nor Am L&P pf _ 2 No A Ray A baoe | Northn Euro 0il- | rtStatesP A Ohio Brs B hic . 150s Ohio Oil cu pf(6) 1 Ohio Pwr pf (6)_. 10s Okla Nat Gas _ Oldetyme Dist Pac GEE 1st 113 Pac P&L pf (1) _ Pan-Am Air (t1)_ Pantepec Oil _. Penin'lar Tel 1.60 Pennroad (a25c) - Pa P&L pf (7)___ Pa Salt (h33,) 258 Pepperell Mfg 16. 50s Perfect Circle 12_100s Thila Co (h45c) - Phoenix Secur . __ Pierce Gov hlic . | Pines Wintfrt(n) Pioneer Gold 40c_ Pitney Bow 740c_ Pitts BL&E 113 _ 0> L T T S CP S CIR PR 1 10s 6 6 2 1097, 131, 530 14 508 | Pitts Forging Pitts & L E bi1g Pleas Val W hioc Plough Inc 1.2 Potrero Sugar Premier G 112¢ Producers Corp _ Propper McC (d)_ Prosperity Bal Pub SveInd pf. . 108 Pug Sd P&I $6 pf. 1758 Quaker Oats (3)_. 60s Raymd Con (11)_ 1008 Raym'd Con pf 3_ 250s Red Bank = Reed Roll B 780c_ Reliance El b30c Reiter Foster Revbarn (b10c) _ Reynolds Invest Richmd Radiator Root Pet (h25c) . Ryan Consol Ryerson&Haynes Rustless I & Stl__ St Regis Paper St Regis Paper pf Schiff Conew(2) Scovill ( Segal Lock & H Seizerling Rub___ Selected Indus a1 Sellnalletf 51, 508 Sel In pr pf(512)_ 1008 Seton Leath asoc. Seversky Air_ Shattuck Den__ Sher-Will (14)___1 Sher-Will pf (5)_. Simmons H&P _ 1 Solar Mfg(b10c)_ R 1 Sonotone (al0c)_. %W 4 Soss Mfg (50c) __. % So Pa Oil (111%)_ South Union Ga Soutl'd Roy h20c Stand Dredging - Stand Inv pf ww_ 100 Stand Oil Ky t1 Stand Oil Ohio 1. Stand Pwr & Lt Stand Prod b2 Stand S & L (4c) - Stand Tube (B) _ 3 std WholePh1.20 50, Starrett Corp vte. Sterchi Bro 1st Sterling Inc 720 Sullivan Machine. Sun Ray Dr i80c_ Sunray Oil (bic)_ Sunshine Min(3)_ Swiss Am El pf. Taggart Corp _ Taylor Dist 30c__ Technicolor a50c. Tech Hughes 40c Texon Oil&L 60c_ 2 Tob&All Stks b1_150s Toledo Ed pf 6_ Trans-Lux f20c__ Transwest Oil Co. Tubize Chatil__. Tubize C(A)a2%. Tung-Sol Lamp __ Un G Can h271;c_ Unit Gas Corp_ Unit Gas war Unit Gas pf b3 15 _ Unit L & Pw pf A Ut P&L pf b37%c Utd Milk P pf 13_ Jtd Pr Sh pf (1) Jtd Prof Sh al0c. td Shipyds B td Shoe M 12 S 107 D0 = O 10 A B 1O % S wa 2 00s 20s 125'3 110 4 5% 184 613 < 5 S Foll B (1) S & Intl Sec S Rub Reclaim. U S Stores Unit Stores vtc_.. Unit Verd Ex(1)- Unit Wall Paper_. Utilities P&L(d) - Utilities Indus___ Valspar vte._. Valspar pf vtc Va Pub Sve pf 7 Walker Mining__. ‘Wayne Knit Mill Wayne Pmp b135. ‘Weisbaum BB 40c ‘Wentworth blse.. ‘W VaCoal&C.. ‘Westn A E(a25c). Westn Cart pf (6- West Tex Ut pf 6. ‘Weyenburg Shoe. ‘Will0il-0-M as0c ‘Wilson-Jones n__ ‘Wolvr Tube b20c. ‘Woodley Pet t40c ‘Wright Harg t40c Yukon Goldal3c. Dividend rates in 1 1 T U ¢ T J J 8 1025 85 14 % 21 14% 813 6% 2% nual ra 0! cumulated dividends. a P: bPaid this vear. d Companies being in bankruptcy or being _reorganized under.‘the n recel by such com. G Low. Close. 1% 1w b4 b4 8% 9 & & 151 15%% 81 81 20% 20% 68 68 5 b 7 1% 10% 11% 6's 3014 13% 17s 2 19 T 2% 104 104 111% 111% 3519 21y 58 1081 109% 13% 20 03 110 3814 481y 13's 35 23 20 30 109 38y 4 178 4% 6 514 4n 100 251 42 100 2514 10115 10115 991, 99% 8% 8% 12513 125% 110 110 4 5% 8% " 102%s 102% 5 85 14 % dollars based on last puartly or semi-annual payment. tAi t including_ extras. id last year. reported as ivership, of bankruptey : | operated under | three STAR, WASHING1O. PLANS QUTLINED FOR NEW HAVEN Drastic Scaling Down of Debts and Fixed Charges Proposed. By the Associated Press. NEW HAVEN, Conn, June 1.—Di- rectors of the New York, New Haven & Hartford Railroad Co., only major Eastern railroad forced into trustee- ship by the depression, proposed today a plan of reorganization drastically scaling down debts and slicing fixed charges in half. Edward G. Buckland, chairman, said the plan, filed simultaneously with the Interstate Commerce Com- mission in Washington and the United States District Court here, “makes it evident that, except for possible aban- donment of unproductive branches, the integrity of the system as a whole is to be maintained.” ‘The “New Haven's” position in the transportation fieJd between Boston and New York, linked to virtually all Southern New England by the road’s 2,000 miles of track, “is in no way impaired by the reorganization,” Buckland said. Determination Cited. The veteran board chairman de- scribed the “outstanding feature” as “the plain determination of the di- rectors to restore the credit of the company to a high plane and reduce fixed charges to such a point as to prevent any recurrence of its present financial embarrassment.” “Fixed charges have been reduced approximately one-half,” he said. “Adequate means have been provided for future financing. So far as com- patible with public interest, due recog- nition has been given the rights of all creditors and stockholders.” Before it becomes effective, the plan must be approved by the I. C. C. and confirmed by the Federal Court, ‘The half billion dollar railroad, its lines running through one of the most densely populated sections of the country, began reorganization pro- ceedings October 23, 1935. After mounting deficits and obligations | made it impossible to obtain further | loans to ease its precarious financial position. Since then it has been the control of three court-appointed trustees, among them | President Howard S. Palmer. New Stock Planned. ‘The plan contemplates a new $243 - 857.000 funded debt structure under which fixed charges, aggregating $20,- 329,920 in 1935, would be whittled down to $9,942,909. New stock would be issued to replace present common and preferred shares. Buckland said recent studies have indicated the reorganization railread will have an annual income of $14,- 000,000 available for fixed charges, as compared with 1936 income of $12,- 227467, Of the 814,000,000, he said, $12,000,- 000 will be available for the fixed in- terest of $7,872,172 on funded debt. Directors also advocated the “New Haven" take over by merger lines until recently operated as part of its system under leases. They are the Hartford & Connecti- cut Western, the Old Colony and providence, Warren & Bristol Rail- roads. It was also proposed the reorganized corporation assume the lease of the Boston and Providence and retain leases of the Norwich & Worcester, the Providence and Worcester and Holyoke & Westfield. MERCANTILE EXCHANGE OBSERVES ANNIVERSARY Bv the Associated Press NEW YORK, June 1.—Today marks the sixty-fourth anniversary of the | New York Mercantile Exchange, origi- | nally formed as the New York Butter & Cheese Exchange. Under special legislative charter from the State of New York, the organization specializes in the execu- tion of spot and future contracts in butter, eggs and graded dressed poul- try. SHORT-TERM SECURITIES. (Reported by Chas. D. Barner & Cg) Amer Tel & Tel & 943 Auburn Auto Co 4345 1939 _ Baldwin Loco Works 55 1940_ Calif Packing Corp 55 1940 Garo, Clinch & Ohio, | Chesa & Ohio Rwy 5s 19: Edison Elec Illum 4s 19 General Pub Serv 5ias 1939 Grand Rap & Ind 4125 1941 Houston Oil 5!3s 1940 Intl Mercan Marine s 1041 Intl Tel & Tel 41zs 1930 __ Laclede Gas Light 55 15 Lehigh Valley Coal fis 1018 Lehigh T 5 Long Island Gen 45 1938 Louis & Nash R R 4s 1040 Michigan Cent R R 45 1940 Midland R R of N'J 5s 1940 Mil & North R R 4'as 1939 N Y. C &St L % Not New York Dock ' 5s | N Y, Susa_& West 5s New'York Tel Co 4'3s 1420 Pacific R R of Mo 4s 1 Penn-Dixie Cement 65 1941 Penna R R Co 4s 19 Rio Grande West 4s 0 Southern Bell T & T 5s 1941 Term RR As St L 4125 1939 Vanadium Corp bs 1941 Vertientes Sugar Co 7s 1042 Wabash Rwy Co 55 1939 Warner Bros. 65 1939 2 Western N Y & Pa 45 1043 Western Union Tel 55 1035_ =n0 1001 VICE PRESIDEN’ CHARLES KATTELMANN, PRESIDENT. WILFRED H. BLANZ SECRETARY ASSETS D. O, TUKSDAYy " “Average Daily Closing Price of 50 Leading Stocks on the New York Stock Exchange DOLLARS PER SHARE JUNE 1 1837 Feb. Mar. Apr. Stock Exchange Closed May June July Aug. (ot 11 B0 T P Db ) GOVERNMENT RECEIPTS CLIMB 23 PER CENT By the Assoclated Press. NEW YORK, June 1.—Receipts of the Federal Government so far in the current fiscal year have gained 23 per cent over the comparable period & year ago, reflecting a general im- provement in individual and corporate income. General expendituers increased 21 per cent during the same time, while recovery and relief spending declined. Treasury receipts, reported by the daily Treasury statement of May 25, compared as follows on that date: Fiscal year 193 $4,383,904.178 Fiscal year 1936- - 3,559,888,118 CHICAGO LIVE STOCK. CHICAGO, J 1 re. grade steers and 00d & inating: both tlers and to break the grades of cattl out of line last werk compa ®0od and choice offerings larg ads held 75 low . including &r dckers steady FOREIGN MARKETS. LONDON. ket closed irregular t small. Tension over the reiaxed “somewhat trans-Atlanti er n MONEY MARKET. YORK. % D NEW steady: 1 mercial vew York Steam Omits Dividends As Costs Increase Bs the Assoctated Pross. NEW YORK, June 1—New York | Steam Corp. announced today omis- | slon of dividends on the $6 and $7| preferred stocks due tc “higher taxes | and operating expenses.” It is a sub- | sidiary of Consolidated Edison Co. | The announcement was the third | unfavorable dividend action in the| local public utility field since April. | Brooklyn Union Gas Co. cut its quarterly dividend from 75 cents to 40 | cents, and Brooklyn & Queens Transit, | Corp. of the Brooklyn-Manhattan | Transit tem omitted the dividend | on the $6 preferred stock. Both blamed increased taxes and operating costs. PHILADELPHIA PRODUCE. i Rock. ' | fancy. 14-1 | | i y—Fowl. fresh killed fn O WHAT so many other owners of apartment house and residential properties in ‘Washingtorr do—place them in the hands of our Property Man- agement Department. This experienced service effi- ciently and economically ren- dered. B. F. SAUL CO. 925 15th St. Nat'l 2100 Mortgage Loans as an ofter to sell or as a herein mentioned. Johnston, Lemon & Co. Washington, D. C. This announcement is not and is under no circumstances fn be construed itation of an ofier to buy any of the securities The offering is made only by the Prospectus. 35,000 Shares San-Nap-Pak Mfg. Co., Inc. (A New York Corporation) COMMON STOCK ($1 par value) Price $4.50 per Share Copies of the Prospectus may bde obtained from the undersigned Waterman Corporation Albany, N. Y. il NO COMMISSIONS RENEWALS UNNECESSARY U{ppumnms invited for LOANS on improved real estate in Washing- ton and Arlington County, Virginia. Rates and terms commensurate with security offered. finance, build or remodel—See us. The American has been helping the people of Washington to acquire LY, homes for the past 63 years. TREASURER American Building Assoriation 300 Pennsylvania Ave. S. E. OVER $9,700,000 Before you re- Sept. UNDER U. 8. GOV'T . SUPERVISION _ FINANCLIAL, %% A—)Y DALY OIL ouTPUT REACHES NEW HIcH Both Oklahoma and Texas Report Large Gains During Week. By the Associated Press, TULSA, Okla., June 1.—The Oil and Gas Journal reported another new high today in the national production of crude oil, a daily average for the week ending May 29 of 3,586,806 bar rels. ‘That figure was 33,571 barrels high« er than the daily average of the pree vious high set just a week ago. Oklahoma had an increase of 11,050 barrels for an average of 660,775 bar= rels daily; East Texas was up 2,696 to 467,653, and all of Texas had an ine crease of 8467, to an average of 1,« 436,864, Louisiana increased its production | 5,872 for an average of 248,302 barr-ls | daily, while California production de« | clined 500 to a total of 658,500 and Kansas jumped 5,125 to a total of 202,675 barrels daily. Eastern States, including Michigan, had an increase of 2,837, to a total of 163,800 barrels daily. The output of the Rocky Mountain i z boxes. 20-23: chickens, 24-27: old roost- | 2rce Fémained virtually stationary, de- ers. dry picked, 14-18: Bpring ducks, Long | CT®8SIDE 60 to an average of 74470 Isiand. 18-17. barrels daily. DOLLARS PER SHARE Dec. & Oct.. Nov., ; o Ol e ————r— FASHIONS IN INVESTMENTS The changing economic outlook calls for flexibility in the mamgemenr of invested funds. Certain condi- tions may dictate the purchase of common stocks. Under different circumstances, selected bonds, or pre- ferred stocks, of commodities may afford the sound- est investment opportunities. To provide a compre- hensive service to meet changing conditions, this firm holds membership in 29 exchanges for the execution of orders to buy or sell stocks, bonds or commodities. FENNER & BEANE Members New York Stock Exchange and other leading Exchanges Southern Bldg. 15th & H Sts. N.W, National 7000 First Mortcace Loans District of Columbia, Nearby Maryland and Virginia 5% - Terms from 3 to 15 years Also Monthly Payment Loans RANDALL H. HAGNER & COMPANY INCORPORATEE Homes Apartments Business Properties MORTGAGE LoAN CORRE SRONDENT 1321 Connecticut Ave. N.-W. Telephone: DEcatur 3600 ® W. B. HIBBS & COMPANY MEMBERS NEW PORR STACE BXCHANGE PHILADELPHIA STOCK EXCRANGE NEW YORK CURB EXCHANGE CHICAGO BOARD OF TRADE BOSTON STOCK EXCHANGE NEW YORK COTTONX EXCHANGE WASBHINGTON $TOCK EXCHANGE HIBBS BUILDING % WASHINGTON, D.C, "Telephang + National 0540 [ auesnons mur are asken asour sanxmve || vy TH'E hours during which a bank fs open to the public for the transaction of business are usually called, ‘‘Banking Hours.”” The are only a part of the working day for ban employees. A bank is very much like an efficient house- wife who has work to do before a dinner %ty and work to do after the guests leave. ere is much work for employees to do before the bank opens to the public. At the close of ‘‘banking hours’” window tellers count and balance their cash; bookkeepers prove accounts and tally ledgers; checks are arranged for clearance to other banks and to other cities; conferences are held; officers dictate and correspondence, go over reports and tend to many other duties. Our bank does much of its work befors and after ‘‘banking hours.” McLachlen Banking Corporation Since 1891 TENTH AND G STREETS, N. W. S.W. Branch, 12th and Maryland Ave. S.W. Member Federal Deposit Insurance Corporation