Evening Star Newspaper, June 2, 1937, Page 16

FINANCIAL, THE EVENING STAR., WASHINGTON, D. €., WEDNESDAY, JUNE 1937. TA—16 #xx D.GCLEARNGS [TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE SO(S fCf [P ] ing time, | High, Low. Dividend Rate. Add 00, High. Low. Close. chse. | Hish. Low. _ Dividend Rate. Add 00. High. Low. Close. chwe. | High Low. _ Dividend Rate. Add 00. Hish. Low. Close. chs. T e e Co T 20 P Bas e bRt (6 P IRD Low i Closs: che 1214 7' Natl Tea (60c).. % % — % | 28% 19i; Spiegel, Inc (1).___ 14 200201 200 High. Low Dividend Rate Add 00. High. Low. Close. chge. | 37!z 31% Eaton Mfg (2)_ 3 33y 4 33% + % | 13 Q‘. Natomas (180c) 5 m 10 9515 | = Only About 500,000 Traded FINANCIAL. 817 Splegel cum pf( b 831 5 4614 Abbott Lab (11.60)_ 461 46'5 46l — 19 11% Eitington-Schild___ 2 25012 317 New Orl T&M (d)__ 30s 22 20% 12% Stand Brands(t80c) 23 12 125 15 Adams Express b30c 16% 164 164 + L 21% El Paso Nat G 1.60 .. 2 24% + % | 41N Newport Ind(b50c. 6 314 30 5% Stand Gas&El (d)_- 15 7 63 29% Addressog'ph bé0c . 30t — Y 34% Elec Auto Lite 3.20 3813 3815 55% N ¥ Central 128 441 43% Stand GEE $4 pf(d) 7 17 67l Air Reduction (1) 69‘ L3 94 Elec Boar (a60c). x 101 72 = 584 58 Air-Way Electric_ n i 4% Elec&Mus 1 (al8e)- 13 317 5 3 2 258 Alaska Jun (160¢) 1514 Elec Pow & Light _. 4 12 8 e 81 2% Alleghany Corp._. a=Swe~ May Total Is Best Mark for 42 Stand G&E $7 pf(d) 40% Stand O11 Calif (t1). o That Month in Last Seven Years. BY EDWARD C. STONE. Bank clearings in Washingon are climbing higher and higher, busmess} done by checks in May being the best | of any May since 1930, the monthly | report of the Clearing House Associa- | tion, George H. Brigh!, manager, dis- closed today. Clearings in May of this year to- taled $103.997.339.37 in comparison with $94,295,112.31 in May a year ago. This is a striking gain of $9,702,227.06 and proves without question that busi- ness in the Capital now is much better | than it was at the same time last | year, In the fist fie months of the| present year clearings in Washington | reached a total of $527,240,196.66, Against $446,055,076.89 in the same period in 1936, or an increase so far in 1937 of $81,185,119.77. A gain of | such proportions shows clearly that business in Washington in the first | half of 1937 will far exceed the high | mark reached in the similar six months in 1936, as there is nothing on | the horizon to indicate any marked | change in June in the general up-| trend. \ May clearings alone, in being the best since 1930, compare with 5113~\ 055,037.21 in May that year. In the previous year, shortly before the Wall Street break, 836,188.91 in Was high mark for that month 2 1931, clearings had dropped to <1(V 346,949.55. In Mav, 1932, (i | bled further to SR\I.‘W.'K 198.40, hitting | bottom in Mav, 1933, at $40,453,198.40. Then the present advance started, | eanceled checks in May, 1934, totaling | $61,662,074.95 and amounting to $77,957,951.42 in May, . Since then they have mounted steadily until they reached almost $104,000,000 in the month just ended. learings in the first five months | of 1937 in this city compare as foll with corresponding montt 1937, January £100,562,083 Februa March April - 715,484 May 997,339 » Extra and Quarterly Voted. Directors of the Bank of Commerce & Savings have de ed a regular quarterly dividend of 2!, per cent and an extra dividend of 1 per cent, both | payable July 1 to stockholders of rec- | ord June 20, $romas J. Groom, exec- utive vice president and ca an- nounced today. This is a con dend action taken I \\ncn a total of $10 in reg dividends was paid and $2 in extra dividends, or total dividends of $12 per share. Mr. Groom reported a healthy growth in deposits and estimated that earnings for the first six months of 1937 would be quite satisfactory. The bank's stock is listed on the ! Washington Stock Exchange, the lat- | est bid being $210 per share. Record Bond Outing Seen. President Thomas C. Montgomery of the Washington Bond Club an- nounced today that about 150 reserva- tions had been received for the an- nual outing set for the Manor Club next Friday ‘This will be the largest attendance of actual members on record. 40 more members have been added to the roster during the past year. The stock market session, sports, #nd the annual dinner will feature | the occasion. The annual election of officers is also on the program. The | Nominating Committee, of which Kenneth S. Wales is chairman, has | already announced the slate for next} vear. Clark Brown, of Brown, Good- | wyn & Olds, will move into the presi- | dent’s chair after serving a year as| vice president Chauncey G. Parker of Auchincloss, Parker & Redpath is slated to be vice president; George M. Ferris of George M. Ferris & Co., secretary and treas- urer, and Frank M. Hall, Hall, Peters & Bryson, member of the Board of | Governors. T. C. Montgomery, Wag- gamann, Brawner & Co,, retiring presi- dent, will also be on the governing board for the coming year. The Outing Committee includes E. B. Olds, jr, of Brown, Goodwyn & Olds, chairman; banquet, Charles C. Ailes, Brown, Goodwyn & Olds; tickets, Myles H. Quail, of Y. E. Booker & Co.; putting, C. Bayne Mar- bury, Acacia Life Insurance Co.; golf, | Richard P. Dunn, Auchincloss, Parker | & Redpath; horseshoes, Frank J. Rapee, Waggamann & Brawner; prizes, Donald H. McKnew, of D. H McKnew & Co; stock exchange, Harold C. Patterson, Auchincloss, Parker & Redpath. New Issues Offcred Here. ‘The Washington office of Mackubin, | Legg & Co. is participating today in a ‘i new issue of Midwest Piping & Supply | Co. common stock, priced at $11 per share. Johnston, Lemon & Co. are partici- pating an offering of 35,000 shares of San-Nap-Pak Manufacturing Co., Inc., common stock which was placed on the market yesterday at $4.50 a share, New York City bank stocks yielded little ground during May, according to Hoit, Rose & Troster. The 17 leading issues declined 423 points from month’s high of 67.66 on May 5 to month’s low of 62.99 on May 18. A rally carried the average back to 67.21 on May 24 and at the month's close of 65.12 on May 28, half of the early month’s de- cline had been regained. Insurance stocks in the New York City market reached a new 1937 low in May, but regained about half the loss in a rally near the end of the month. Market to Close Saturdays. Governors of the Washington Stock Exchange voted today to close the ex- change on Saturdays during June, July and August, beginning next Sat- urday, June 5. Washington Gas 5s, 1958, sold at 105!z on the exchange today, Capital Transit opened at 1014 and closed with & two-share sale at 10, Potomac Elec- tric Power 5% per cent preferred came out at 110'2 and Riggs National Bank preferred moved at 1013, Voters of 168 municipalities®located In 30 States during May approved municipal bond issues aggregating $9,331,670, as compared with $17,426,- 503 bonds approved during April, ac- cording to the Daily Bond Buyer, | | PLANE CONTRACT LET. ‘The War Department awarded to- afternoon and evening. | day a $2,372255 contract to North American Aviation, Inc., of Inglewood. | Calif., for 85 basic combat airplanes | and for spare parts equivalent to 10 additional ships. 43% Alleg pf ww $40 31% Alleg Steel (b80c) 19 Allen Indus ¥1) . 2218 Allied Chem (6) 22'% Allied Mills (b2) 532 Allied Mills (b2)rts 15 Allied Stores (b20c) 57 Allis-Chalm (b50c) . 4% Amal Leather_ 90 Amerada Corp 83 Am Ag Chm Del bl 21%; Am Bank Note (1) Am Bk Note ptf (3)_. 57'4 Am Brake Sh (12).. 95'2 Am Can (14) . 5013 Am Car & Fy (b25c) 98 Am Chicle (14) '« Am Crystal Sug b2_. T Am & Foreign Pwr_. 45 Am & For Pw 87 pf_ 181; Am & For Pw 2d pf_ 372 Am Hide & L pf (3). 42 Am Home Pr(12.40) 22 Amlce. .____ 13's Am Interntl (a40c) . 42'3 Am Locomotive . 2013 Am Mach & F (1) __ 4 Am Metals (b25¢) R's Am Power & Light_. 43% Am Pw & Lt pf (5)_. 3 Am Pw & Lt pf (6)_ 201 Am Radiator 160c._ 31% Am Roll Mill t1.20 . '+ Am Seating (a24) . 79°% Am Smelt & Ref(3). 154 158'2 Am Sm & Ref pf(7). 67'2 572 Am Snuff (13)_. ____ T 485 Am Steel Fdry (b1). 1091; Am Steel F pf (7). 19 Am Stores (2) _ 160's Am Tel & Tel (9) . 74'c Am Tobacco (5) T4'x Am Tobacco B (5 13'x Am Type Founde: 16% Am Water W (s0c)_ 8% Am Woolen W Am Woolen pt (b2). 6% Am Zine & Lead . « Anaconda Cop biic I8 Anchor Cap (60c) 40 Archer-Dan-M(12)_ 107% Armour (Del)pf(7) - 7 Armour of 111(b35¢) S13¢ Armour(11)pr pf 6 Armstrong Cork(2) Arnold Const b7 15% Assoc Dry Goods 921, Asso D G 18t pf(6) 935 Assoc Inv pf ww(5) ': Atch T & S Fe(a2) 971 Atch T & S F pf(5)_ 4415 Atl Coast Line(al) . 19% Atl Gulf & Wst Ind_ 30% At1G & W 1 pf(ad)- 25 Atl Refining (11)_ '« Atlas Corp (80c) 5012 Atlas Corp pf (3) 1135 Atlas Pwdr pf (3) . 217 Auburn Auto 5" Aviation Corp Del 11l 615 Baldwin Loco (d) _ 4315 Alleg pf ww $30___ 120 &6 Baldwin Loco pf(d) p ~ Baldwin asd (d) __. 40, 20° Baltimore & Ohfo 7 * Baltimore & Ob pt Bangor & Ar (213) \ Barber Co (b23c)- nsdall (1). s Cigar t 40'; Beech Creek R 105 Beech-Nut l‘h.(n) 1813 Beth 5% pf (1) 115% Bethlehem pf (7) 5113 Bigelow-Sanf'd b1 Black & Decker (1) Blaw-Knox (bi3c) 31 Boeing Airplane 851 Bon Ami A (4) _ 41% Bon Ami (B) (213) . 2 Borden Co (1.60)- 387y Borg-Warner __ 814 Boston & Maine _ 15 Bridgep't Brass(1)- 41 Briggs Mfg (12) 437y Briggs & Strat (3) . 41 Bristol- 25% Bklyn-Man Tr (4) 31 Bklyn Un Gas(1.60) 17% Brunswick-Balke__. 157« Bucyrus- £, Budd (E = 8 Budd Wheel b20c 2512 Burr Add M (80c¢) 7 Bush Terminal - 24% Bush T Bldg pf cod- 13'2 Butler Bros (60c) ; « Butlerpf (1%).___. '2 Butte Cop & %(asc) - “. Callahan Zinc-1.cad 12 Calumet&Hec bTic.. Campbell Wy (1) s Canada Dry G Ale. Carpenter Steel +116 Case(J 1)Co pf(7)_. Caterpillar Tr (t2)_ * Celanese Corp btz 8% 60 Cerrode Pasco (4).. 23% 14'; Certain-teed Prd __ 111 108 Champion P pt (6) .. 9013 77'3 Chesapeake Crp(3). 4150s 6874 547x Ches & Ohfo 12.80 _. 1312 67x Chi & Est 1l pf (d)- 215 Cht Grt West (d) ___ 12 Chi Grt West pf (d) 24'3 Chi Mail Ord t1% 2 Cht Mil St P&P (d) . 44 Chi M St P&P pf(d). 33 Chi&NW@d). _._ 21 Chi Pneumatic Tool 15% Chickasha Cott'n Oil 1214 Childs Co S 187 City Ice & Fuel (2)_ 83 City Ico& F nf 6% 7 City Stores___ Clev El Illu pf 41 Coca-Cola (t2)_ 25% 1914 Colgate-P-P(150¢) _ 513 Collins & Aikn (2). 33 Col Fuel & Lron(b1) 11% Columb G & El(40c) 8612 Col G & E pf A (6) . 31 Columb Pic vte (11) 3815 Columb Pic pf(2%)- 111 Col Carb vtc (14)_ 56% Comcl Credit (t4) 6312 Comel Tnv T (14) _ 13t2 Comel Solv (t60c) 2 Comw & Southern_.. 13% Conde Nast Pub_. 11% Consol Cigar _ 313 Con C pr pf ww 97 34 ConsEdis N Y(t2)_ 108 103 ConsEd N Y nf(5)_. b 9% Cons Laundries._. 1413 Cons Ofl (80¢) .____. 5'2 Cons R R Cuba pf._ % Cons Textile (d) 33 Cons Coal Del vtc pt 20% Contain 1.20 ex rts Contain rts June 27 Contl Baking (B) _. 87 Contl Baking pf(8). 50'-;. Contl Can (3) _____ 35% Contl Insur (11. 2 Contl Motors__ 39% Contl Ol Del (t1)-- 267 Contl Steel (1)_ 6216 Corn Ex Bank (3) 714 547 Corn Prod Ref(+3)_ 17113153 Corn Prod R pf (7)- 10% 6 Coty Inc 5613 4215 CraneCo.__ 121 11815 Crane Co pf (7) 1057 108'2 Crane Co cum pf (5) 's % CraneCo (rights) _ 87 2913 Cream of Wheat(2). 28% 18% Crosley Radioal - 100% 70!y Crown Cork & S(2)_ 5613 45% Crn C&S pf ww 23 _ 25% 17 Crown Zellerb __ 108%, 99 Crown Zell cu pt(5)- 8 14 (CubalCoRaL L1t 14% 81 Cuban-Am Sugar. 43 377 Cudahy Pkg (214) 20% 10% Curtis Publishing. 109% 87% Curtis Pub pf (7)_ 8% 5% Curtiss-Wright. 231 1632 Curtiss-W (A)a50c_. 19 Davegacum pf1%. 137w 104% Deere&Co _____.. 24% 17% Del Lack & West_ 10% 6% Den & R G W pf(d). 1462 113 Detroit Edison (14). 3613 28% Diamond Match (t1 17% Diamond T Mot b25¢ 20% Distil Corp Seag . 351 Doehler Die Cast(2) 3814 Dome Mines (12)__. 95 Dominion Stores 471 Douglas Alrcraft 15 Duplan Silk (1) 180 14815 Du Pont de N(b2% 135 131 DuPont deN deb(6). | 1754 151 Eastman Kodak (8) 3 ooy 2 S e s A n e T T AR ® A 50N T ES 5 o b e to e ! ) PRI V444 0+ wwan aBromnehion [5 JOpTDp oY 1 131% 131% A+ A+ 39 4+ % 9% + 574 + 2% 14% — 155% + % 131% + % 169% 170 +1 lflil" 20% 24% 47 18% 33% 387 261 62 Elec Pw & Lt $7 pf_. 5 i 2;‘,% 1% 37 Elec Storage Bat (2] 1'% Elk Horn Coal (d) .. 5!3 Equitable Office B__ 137 Erie RR____ 10 Kureka Vac (80c). 24'; Bvans Prod (t1)._. 314 Fairbanks Co.. 20% Fairbanks Copf____ 49'; Fairb’ks-Morse (t1) 52 Fajardo Sugar (b2). 19% Federal Lt & Trac - 7 Federal Motor(40c). 315 Fed Water Sve A_ 95's Fed'ted Dep S pf 414 36 Fidel Phoenix t1.60. 32% Firestone T&R (2) - 40 First Natl Strs 1214 29'% Flintkote Co (1) _. M, Follansbee Bros(d). Food Machine (1) Francisco Sugar.__. Freeport Sulph (1)_ Fuller Co pr pf Fuller Co 2d pt. Gamewell Co . Gar Wood Ind a nAm Trans hllg Gen Baking (+60c)_ n Baking pf (8) Gen Bronze Gen Cable Gen Cigar (t4) Gen Elec (bi0c) Gen Foods (2) .____. 2 Gen Gas & Elec(A) . Gen Mills (3) _. 54% Gen Motors (b134)_. 11412 Gen Motors pf(5)_. &7y Gen Outdoor Adv 421; Gen Outdoor Adv A Gen Print Ink new__. n Pub Service __. n Ry Signal (1) Gen Realty & Util Gen Refract (b2) Gen Stecl Cast pf Gen Thea lphioe) n Time Instru 11 lette S [taz (11)_ Gimbel Bros Glidden Co (12 'z Goodrich pf (5) % Goodyear T & R bl_. and Unfon pf b1y Grant (WT) (11.40) Grt Northern pt Grt Northn Ore (1 Grt est Sug 12.40_ Wst Sug pm),. nH L (11.60)_ Greyhound (180c) . Gravhound pf(53¢) 7 Gulf Mobile & N pf_ Hall W F Print Hamilton W (b6 . larb-Walker (12) _ Hat Corp of Am §0c. Hayes Body Hazel Atlas GI ( Hecker Prod (1 nd Houd-Her B (1134) b 1d Fin pf(5) ipp Motor I1lirots Centra 11l Cent Is In ( rts June ¢ Inspiration Cop ___ Intercontl Rubber__ Intl lyus \lachHSL. Intl Harvester Intl Hydro El A Intl Nickel (b1) Intl Paper (A) Int] Paper (B) Intl Paper (C) Intl Paper pf_ Intl Ry Cent Am Intl Ry C Am nf A__ Intl Salt (11%)_ Intl Tel & Tel _ Interstat Dp St b2 Inter DS rts June$ Johns-Manv (13) .. Kalamazoo S (1) Kans City So pf(al) Kaufmann (11.60) _. Kelsey-H A (a1%)_ Kennecott Cop b1 . Keystone S&W b3lo Kinney (G R) Co___ Kinney pf (a1) ___ Kresze (S S) bf0c _ 2 Kroger Groe (11.60) Lambert Co (2) __. Lee Rubber (50c) Leh Port Cmt 134 _| Lehigh Valley Coal_ Lehigh Valley R R_. Lehman Cor'n 5 2 Libbey-Ow-F bbc.. Life Saver (11.60)_. Lige & Mvers B t4 . Ligg & Myers pt(7). Lima Locomotive Liquid Carb (2.60).. Loew's Ine (12) - Loft Inc . - Lone Star Cem (3) . Long-Bell Lumb(A) Loose-Wiles (2) - Lorillard P (11.20) Louis G&E A b3 Louls & Nash b23; _. Ludlum Steel (t1)_. McCall Corp (+2) . McCrory Stores ___ McGraw Elec (12) _. Mclntyre Porcu(2 McKeesp't Tin Plate McKesson & Rob __ McKess & Rb pf(3). licLellan Strs b75c.. Mack Trucks (11)__ Macy (R H) (12)_ %, Manati Sugar (d) % Manhat Shirt (1)__. Maracaibo Ol Exp._. Marine Mid (t40¢c)_. 4 Market St Ry pt Market St Ry 2d pf. Market St Ry pr pf_ Marshall Field Martin (Glenn) Martin-Parry Mathieson Alk (1) Mathieson pf A (1)_ May Dept St (13)__. Mead Corp. .- 4 Mead Corp pf (6)-—. Mengel Co __ Mesta Mach (b2 %« Miami Copper Mid-Cont Pet (b50c) Midld Stl 1st pf(8)_ Minn-Hon Ros (2) . Minn Moline Pow. 4 Mo Kans & Texas _. Mo Kans & Tex pf A Mo Pacific (d) - Mo Pacific pf (d) _. Mohawk Carp $1.20 Monsanto Ch bTic_ Montg Ward (2) Morris & Esx (3%)- % Mother Lode al2%e¢. 307% Motor Prod (b11;) _. 20% Motor Wheel(1.60)_ 40 Mueller Brass (1) 102 Murply G C pf (5) _. 11% Murray Corp(a50c). 17% Nash Kelv (1) ____ 35 NashvChat& StL.. 11'% Natl Aviation (al). 24% Natl Biscuit (1.60). 295% Natl Cash Reg (1) 213 Natl Dairy Prd 1.20. 112% 107% Natl Dairy pf A (7). 24% 35 38 1814 44 171 6174 14% 941y 109% 16% Natl Dept Stores.__ 273 Natl Distillers(2).. 30 Natl En & Stpg (2)- 14% Nat'l Gypsum Co_... 3115 Natl Lead (t50c) 154% Natl Lead pt A (1) 48 Natl Mall & S C b50c 83 Natl Pw & Lt (60¢c). 70 Natl Steel (12%)__. 62 Natl Supply Co 330 121% Natl Supply pf hl* 41 106'% 4 12 18% 36 1274 247 3215 22% 108 108 108 2 16% 16% 16% 30% 30% 29% 295 29% 154 15 15% 334 34 1574 157 157% 51 51's 51'p M 9, 5% 77 102 102 127 *127 + 444 I+ 411 | said Janual s "t |+++l FEEESFE 2 & 44+ on 2613 N Y Steam pf (6) _. N Y Steam pf A(T)_ Norfolk South (d)_. « North Am Aviation_ North Am Co(b30c). North Am Co pf (3). Northern Pacific.__. Northwest Tel (3)_. Norwalk Tire & R.. Ohio Oil (b50c) - Oliver Farm Equip_ 2 Omnibus Corp vtc_. * 10413 Omnibus nf (8) 33% Otis Klevator b4oc . 143 Otis Steel _ _ Otis Stl ev pf (533) Outboard Mot b75c . Owens-111 Glass (3) Pacific Am Fish 1.20 314 Pacific Codst 1st pf_ 1515 Pacific Coast 2d____ 284 Pac Gas & Elec (2)_ 4113 Pac Lighting (3)_ 30 Tacific Mills (b1)___ 1'1’ Pac Tel & Tel (8) __. &% Packard Mot (b15c) 60 Panhandle P&R pt_. 17% Paramount Pic_ 4 Park Utah Parke Davis(b1.40). » Parker Rust (1134). Pathe Film Corp___. 144 Patino Mines(160c). 3% Peerless Corp . _ 381 Penick & Ford (bl)_ Penney J C) (4) _ 7 Penn Dixle Cement. 2 PaGlass ctfs h2ie _ 39' Penn Railroad (a2)_ 49% Peoples Drug (t1)__ 441, Peoples Gas Chi R0 Tere Marq pf_ 20 Pet Milk (1) ___ 16% Patrol Corp(A) bi0e 4« Phelps Dodge bS0c . Phila Co 6% pf (3)_ Phila Rap Tr (4) Thila & Read C & I Philip Morris(h3%) 5 Phillips Petrol'm t2 PlereeOllpt. ... » Pittsburgh Coal ___ Pitts Screw&B bl5e. Pitts Steel pf_. - Pitts United 52 Plymouth Oil b7oc Poor & Co (B) Porto R Am Tob B . Postal Tel&C pf(d)- Pressed Steel Car __ Proctor & Gam(12)_ Pub Sve N J (2.60) _. «PubSve N Jpf (5)_ Pub Sve N J pf (f)_, Pullman Ino (1%)_ Pure Ol __ Pire Oil 67% nf(6) Pure Ofl pt (8) ____ Purity Bak (60c) ___ Quaker State O béic 4 Radio Corp_____ Radiopf A (3%5) _ Radio-Keith-Or (d) Raybestos M (1134) Reading RR (2) Real § Tten Iteo Motor Car_ Republic Steel Reviolds Met (t1)_. Ieynolds M pf 515 Revnolds Tob (3 Reynolds Tob B (3). Safeway Stores(12) Safeway Strs pf(5). Safeway Strpf(6) - Safeway Strs pf(7) St L-San Fran (d)_. St L-San Fr pf «d Schenley Dist b1 1~ ulte R Strs (d ott Paper (hfZc) . Seaboard Afr L (d)_ Seaboard A L pf(d). Seaboard O1l (1) Sears Roebuck (3) Servel Inc (11)___ Sharon Steel (1 Sharon Stl pf (5) Sharpe & Dchm. = Shattuck F G Shell Un Ol ¢ 1o > Stlver King (b2 Simmons Co (b30c).. Skelly Oil (b50e) . __ Sloss-Sheffield Stl.. Smith (A0) __ © 3 Snider Pkg (b1%) . Socony-Vace (b25¢) South Am G & P 30c South Port Sug(12). Cal Edison 1% uthern Pacific_ Southern Ry Southern Ry pf. Spalding (A G) > P o FRUIES JUPH " 1O SN ST TOPH T WOTOL - - S Ppape £ & o 9 Stand G&E $6 pf(d) 2 40 i + 2 42 Stand Oil Ind (¥1) .. Stand OILNJ (¥1) . —1% 2 Starrett L S(11.40)_ 4 3% '2 Sterling Prod 13.80_ Twin C K e P e Stewart-Warn t30c.. Stone & Web(a26c). 4 Studebaker Corp.._. 5 SunOil (11) . 407 Superheater (1 4% Superior Oll__ 30 Superior Steel 23% Swift & Co (11.20) _. 15% Symington ww bl0e 11% Symington xw bl0e. 67 Telautograph(60c). 10% Tenn Corp (alsc) 50% Texas Corp (2). 6% Texas Gulf PraSc__ 35'2 Texas Gulf Sul (12) Tex Pac C&O bl0c .. 4 Texas P LT (al0c)- Thermold Co._ Thompson Starrett_ Tide Wat As Oil 800 Timken-Detroit(11) 9'3 Timk'n-Roll Brg(3) Transamerica f40c_. ]"r « Trans Wst Afr a2ic. 18 Transue & W (160c). B Tri-Contl (a50c) __. 33% 20th Cent Fox bs0c_ 42' 20th Cent F pf(1%). 2TwinCity R T tTprald . " Twin Coach (blic) . Ulen&Co_____-___ Und-Ell-Fish b1 Union Bag & P (2)_. Union Carb (3.20) . 4« Union Oil(Calif)1.20 Union Pacific (6) . Union Pacific pf(4). Union Tnk Car 1.60_ Utd Aircraft(asoe)_ Utd Air Lines az0c_. Utd Biscuit (1.60)_ Utd Carbon (4) _ Utd Corp (az0c) United Drug (b2 Utd Dyewood pr( Utd 2 Utd Eng & Ky (12) United Fruit (13) Utd Gas lmp (1) nit Paper'bd bioe. U S Distributing pf_ US Frelght (v1)_.__ U S Gypsum (12) U'S Gypsum pt (7).~ US Leather vte____ 1J'S Leather(A)vtc. US Pipe & Fdry(3). U S Really & Imp. U S Rubber____ U S Rubber 1st pf U S Smelting (b4)_. U S Smelt pt (313) U S Steel. U S Steel Df (7) Unit Stk Yds (EUC) Utd Stores (A) Univ Leaf T pf (8)._ Utll Pw&Lt (A)(d). Vadsco Sales Corp_ Vanadium Corp____. Va-Car Chemical Va-Car C6% pfhlly Va lron Coal&Coke Va lron C&C pf Vulean Detin p£(7)_ 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 Bros Warren Fdy Webster Wesson O&S (150c) West Penn El pf(6) West Penn El pf(7) West Pa Pwr pf (6) Western Maryland._ Western Pacific Western Pacific pf_. Westn Un Tel (3) _ Westing| b'se A B(1) Westhse Elec (b2) . Westvaco Chlor (1). Westvaco 5% pt 1 Wheeling Stesl Wihite Motor_. White Rk M S(1. Wilcox Oil & Gas__. Wilson & Co (50c) . Woolworth (2.40)__. Worthington Pump. Worth Pump pf(B). Wrigley W Ir (13).. Yale&Towne(160c). Yellow Tr & Coach_ Yell Truck pf b3 'z Young Spré& W(13). 11015 Ygstn S&T (b75¢) . 115 99 Ygstn S&T pf (513). 40 31 Zenith Radio (b1)__ 33 Approximate Sales of Stocks on 11:00 A M 1:00 .M . Y. Stock Exchln; 170,000 . : 260,000 330,000 -~ 320,000 Total Sales for the Day 540,000 Dividend rates as given in the above table are the annual cash and Some Advances Are Shaded. Net change. Today, close Prev. day Month ago. Year 1937 1937 1936 1936 1932 i .S B 1929 146.9 153.9 184.3 157.7 1927 516 953 618 61.8 (Complled by the Assoclated Press.) BY VICTOR EUBANK, Astociated Press Financial Writer. NEW YORK. June 2.—Althougt the stock market rose fractions to » point or so today, it slipped into thé vise of trading {nertia A quiet advance during the morning met casual selling, which chipped thi | edges off gains in a number of | leaders. Wall Streeters. attempting to explair price swings and the low ebb of ac- tivity. said traders were heartened by the abatement of war fears, but dis- couraged by the steel strike. Transactions approximated 500,000 shares Issues which behaved well most of the session were United States Steel, Bethlehem, Republic, Youngstown Sheet & Tube, Goodyear, United States Rubber, ~ Woolworth, International | Harvester, Douglas Alrcraft, American | Telephone, Consolidated Edison, Public |§N\l(€‘ of New Jersey, Anaconda, Ken necott, Cerro de Dasco, American Smelting, International Nickel, Stand- ard Oil of New Jersey, Texas Corp., Seaboard Oil, Westinghouse, General electric, Du Pont, Allied Chemical, Santa Fe, New York Central, Penn- svlvania, Baltimore & Ohio, Great Northern preferred, Southern Railway, Celanese and Distillers Corp.-Sea- grams Shares which lacked backbone wers National Steel, Inland Steel, Chrysler, General Motors, Scars-Roebuck, Boe- ing and North American Some chart students of the mar- ket said neither industrials nor rails have showed sufficient rallying energy to suggest a reversal of the interme- diate decline which started March 11. Nevertheless they cited various re- assuring factors: The trade and indus- trial pace has been somewhat better than expected. There has been an absence of distress liquidation. Fur- thermore, the market has demonstrat- ed a good amount of stamina in the way it has received unfavorable news, particularly the outbreak of strikes at independent steel companies. CHICAGO GRAIN By the Associated Press CHICAGO. June 2.—Late tumbles of wheat values today carried the market down 3% cents a bushel maxi- mum. Sharpest setbacks of values were in the July delivery, which plunged to $1.10'4. against $1.14 in yvesterday's final dealings. Much of today's sell- ing resulted from automatic execution of orders to stop losses on the part of traders unable or unwilling to fur- nish additional margins to protect brokers. At the close Wheat was 2%-315 cents under vesterday's fimsh July, 11002~ Sentembrr 1.09%:-3,; corn, 55 off t0 114 up: v, 1.223%-75: Sep- tember, 1.097;-%, and oats showing 1 cent to 174 decline WHEAT— o:;»n July 1 9 | payments oasea on the atest quarterly or haif-yearly deciarations. | 574 | s Unit of trading less than 100 sha 7 Annual rate— 19% — t, DOt including exiTas © a Pald last year b Paid this year. 18 =+ W |xEx dividend d Companies "reported in receivership or being reorganized’ ugar Deliveries Above 1936 Mark During 4 Months B: the Associated Press. Government quota system officials + | Teported today sugar deliveries in the first four months of this year were 1236315 short tons larger than the | same period last year. The sugar section of the Agri- cultural Adjustment Administration April deliveries aggre- gated 2,488,683 short tons, raw value, | compared with 2,252,368 tons in 1936. The A. A. A. said refiners supplied 1,568,830 short tons this year; beet sugar factories, 464,832 tons; import- | ers, 255,687 tons, and Louisiana and Florida mills, 55,437 tons. Stocks of sugar on hand April 30 amounted to 1,137,823 short tons, raw value, compared with 1,439,346 tons on the same date last year. | APPROVAL IS SOUGHT FOR C., B. & Q. PURCHASE By the Assoclated Press. The Chicago, Burlington ‘& Quincy Railroad Co. asked the Interstate Commerce Commission today to ap- prove its outright purchase of the North Platte Valley Railway Co. The Burlington already owns 100 per cent of the smaller road’s stock. The North Platte line is located in Morrill, Scots Bluff and Sioux €oun- tles, Nebraska. The application said acquisition would save the expense of keeping separate accounts and records. BOSTON WOOL MARKET. BOSTON. June 2 (M (U. 8. Department of " Agriculture).—Inauiries for territory wools were broader today but most buyers were only looking up available supplies of new wool. Some took graded combing three-eighths blood territory wools at prices within 85- 90_cents, scoured basis. Buyers talked 90 cents scoured basis for good French combing length, fine territory wool and average 12-month Texas in orig- inal bags. The lowest at which these wools were reported bought was around 3 cents for small lots. Most holders ted 95-97 cents scoured basis or above on ‘sizale -mounts FREIGHT LOADINGS NEW YORK. June 2 (P.—Revenue freight carloadings on railroads reporting today for the week ended May 29 included: Previous Year. k. g0’ Baltimore & Ohio Ches. Ohio_ New York cemm Y., C L. Fitte 185 Erie Southern Pacific_ Wabas] 14 NEW YORK COTTON B the Associated Press. NEW YORK, June 2.—Although | moderate opening gains were regis- tered in cotton today on foreign and commission house buying, advances had been lost by midafternoon under scattered liquidation promoted by un- favorable weather and easiness of ‘wheat. October reacted from 12.75 to 12.67 and at the beginning of the last hour prices were net unchanged to 1 point higher. Futures closed steady, 2 to 4 higher eh: " Lo Cl July 5 October _ December January March May R4 Spot _steady: middiing. n—Nominal. Cottonseed Oil Bleachable cottonseed oil futures closed steady, 2 lower to 2 higher. Sales, 113 contracts, including 6 switches. July, 9.95; September, 9.96; October, 9.97; December, 9.91b; Jan- uary, 9.95b. b Bid. New Orleans Prices. NEW ORLEANS. June 2 (#.—Favorable Liverpool cables and a generally better feeling brought opening gains of 6 points on_the cotton market today. Trading was restricted and brokers were apparently unwilling to take on new com- mitments in advance of the holiday here tomorrow. October contracts started at . December at 12.78 January at " March at 17.84 and May at 180 There was a little buying acti in October aiter the start and that month sold up to 1° By the end of the first half hour the general market was 4 to 9 ints net higher. POChttonseed. ol onened steady: July, 0.46b: September. 9.51b: October, 9.50b; December. 9.45b; ‘January, 9.46b. —Bid. REGISTRATION STATEMENTS. | La By the Associated Press. Registration statements for proposed securities’ fiied today with the Securities Commission included: United Securities Co. of Missouri, Kan- sas City investment trust. $10.000.000 of united fund_certificates for investmen! Reliance_Steel Corp.. Cleveland. shares of $25 par_valie $1.50 cumulative convertible "preferred stock and 145,000 shares of $2 par value common stock. for improvements and working capital: under- writers, Mitchell Herrick & Co. and others. Ahiberg Bearing Co.._Chicago. 50,000 shares of $5 par value 7 per cent cumu- Iative participating convertible class A stock and 375,000 shares of S1 par value common stock. for equipment ‘and_workini capital: underwriter, William R. Stuart Cluett. Peabody & Co.. New York manu- facturer of men's haberdashery, 112,974 shares of no par value common stock. for improvements and workinz capital: un- derwriters. Goldman® Sachs & Co. and TS, O Gonnor Moffatt, & Co. San Prancisco department store. $550.000 of 5! per cent lo-vear debentures. for ‘debt retirement; underwriter to Silver 'Syndlcate. Inc Wailace Tdaho. 33.333 10 cents par value common Bock, for ‘development snd working capi- tal; underwriter, Walter G. Palmer. INSURANCE STOCKS NEW YORK. June m | Security Dealers' Assoctation Bid. As ked. Aetna Cas (2a) AT Aetna Ins (1.60) Aetna Life (.Ko0a) Am Equit (1'60a) Am Reins (.40g) Am Reserve (la) Am Surety (1 = Automobiie (1a) Balt Amer (.20a) Carolina_ (1.140) - City of N Y (1.20) Conn Gen Lite (.50) Contin Cas (1.20) Fid & Dep_(4) Firemans Nwk (.30) Frank Fire (1a) Gen Reinsur (1) = Glen Falls (1.60) ~_ "~ Gloce & Rep (.80) Globe & Rut Great Amer ° | Hanover (1.60) Hartford Fire (2) | Home Pire Sec Home Ins (1a) = Homestead (1) = Knickerbocker (.80) Lincoln Fire i Maryland Ca; N Hamoshire (1.60) N Y Fire (.R0a) Nor River (1) Phoenix (2a) "7 Prov Wash (1) = Reve (P) In (1.30) " Rossia Ins (.60) St Paul Fire (f) Sprinafleld _ (412a) " Sun Life (7'ag) Trayelers (16) S Fire (2) Westchester (1 20a) a—Also extra or extr; &—Declated or baid 86 far this year, SHORT-TERM SECURITIES. (Reported by Chas. D. Barney & Co.) B T Amer Tel & Tel 5'as 43 _ P Auburn Auto Co. 474 3 ki Baldwin Loco Wks 1053 Chesap & Ohio Ry 2 Edis Elec Tllum 4s Gen_Pub Sve 5los '3 Gr Rap & Ind 4'48 Houson Ofl 5ias ‘40 i Intern Mer Marine, % Intern Tel & Tel 41 Laclede Gas Light 55 Lehigh Valley Coal 65 Milw & Nor NV s e nom 38 New York Dock 55 N Y Susa & West 5s New York Tel Co 4125 ~ 107t R of M = 1001, Vanadium Corp 53 *41 Vertientes Sugar Co 7s '42 Wabash Rwy Co bs '30_ N , Western Unjon Tel 55 o 125 TONS OF LEAD SOLD. NEW YORK, June 2 (#).—The St. Joseph Lead Co. reports 125 tons of pig lead from Southeast Missouri mines sold yesterday at $5.85 per 100 pound!, 8t. Louis. i —New York k3 uly o | Dec. | RyE— July Sep. Dec. BARLEY-— June LARD— 12.60 1750 5RO 16458 17.00 16.05 17.00 Chicago Cash Market. Cash wheat, no sales reported; corn, No. 1 yellow, 1.30; No. 2 yellow, 1.29- 30; No. 3 yellow, 1.27',-29; No. 2 | white, 1.30: oats, No. 2 white, 51 | 52: No. 3 white, 497:-50'2: no rye; | soy beans, No. 2 yellow, 1.58-59: barley | feed, 65-70 nom.: malting, 1.10-15 nom.: timothy seed, 4.25-50 cwt.; clover seed, 23.00- 30 00 cwt, Winnisex Prices. CHICAGO. June 2 (¥ ——Grain range principal markets” today: WHEAT— Previous Low Close Baltimore Quotations. BALTIMORE. June 2 (P —Wheat. No Winter. garlicks, spot domesti; ¥ gune. METAL MARKET. NEW YORK. June 2 (P —Cobpm steady: electrolstic ‘spot and future, 14,000 export. 14.25-30. Tin steady: spot _an nearby, future. 56.12% steady: spot. New York, f.00-6.05 East 8t. Louis. 585" Zinc steady: East St. Louls, spot future. 6.75. " Tron. aluminum. antimony. aquicksilver. platinum and wolf< ramite unchanged. New England Fund Prospectus on Request A. S. GouLpeN & Co., Inc. Woodward Bldg. NA. 2000 COMPLETE NVESTMENT SERVICE Quotations. Orders Promptly Executed in Any Market. Local Securities. WAGGAMAN, BRAWNER & Co. e/nc. 1700 Eye N.W. ME. 3860