Evening Star Newspaper, June 28, 1937, Page 18

A—18 #xx FINANCIAL FINANCIAL K% STOCKS GO DOWN y Private Wire Direct to The Star. Al New rou markets are now - daylight saving time. Prev 1937 Stock and et . Dividend Rate 45 Abbott Lab (11.60). Prev. 1037 SBtock and High. Low. Dividend Rate. les— 6914 50 Contl Can (3) Add 00 nun lf; 01‘0;' chee. [ 25% 19 Contl Diamond Not | prev. 1037 Add oo High. Low. Close. chge. | High. Low. 50% 50 — T 18% —1% | 624 Stock and Bales— Nes | Prev. 1037 Dividend Rate Add 00. mll !n'. Close. chge. | High. Low. 427 McKess & Rb pf(3). 2 43 40% Mack Trucks (11).. Stock and Dividend Rate. T4 Seagrave Corp - 41% -1 81 Sears Roebuck (3)_ 27 &lol— % 41% 85% —1% FOR GAS SHARES Buyers of New Convertible Preferred Issue Get Cer- tificates Today. BY EDWARD C. STONE. Certificates were being delivered today to purchasers of the new 20,000 shares of Washington Gas Light $4.50 cumulative convertible preferred stock, which was placed on the market here last week, oversubscribed in one day and the subscription books closed. The 20,000 shares were sold largely to Washington investors by six Capi- tal investment houses, some 18 other local firms also having a limited amount of the stock for their clients. ‘The firms which acted as underwriters for the issue announced at noon on the day of the sale that all the stock had been, taken. ‘The new issue will be listed on the Washington Stock Exchange in the near future, probably in the next few months. Application has to be made to the exchange and registration also filed with the Securities and Exchange Commission, all of which takes con- siderable time. The new preferred stock was brought out at 95 and accrued interest, 160 63% Acme Steel (4) ___ 15 Adams Exp (b30c)._ 29% Addressog’ph b60c._.. 2 Advance Rumely__. 64} Alr Reduction (1) 11 Alaska Jun (t60¢)._. 2% Alleghany Corp-.... 21%; Allied Mills (b2)._. 15 Allled Stores (bZOc) 74 Allled Strs pf (5) ... 57 Allis-Chalm (bl)... 4% Amal Leather __. 34% Amal Leath pf (3).. 85% Amerada Corp (2 83 Am Ag Ch Del b2 20% Am Bank Note (t1) 57% Am Brake Sh b1, 125 Am Brake Sh pf 5% 90% Am Can (14) 152% Am Can pf (7) _ 49% Am Car & Fy (b260) 28 Am Chain & C bi0c_ 20% Am Comcl Al ab0c_.. 25 AmCrysSugb2% _. 88% Am Crys S 1st pf 6. 7 Am Encaustfe 10% Am European Sec_.. 6l Am & Foreign Pwr_. 45 Am & For Pw $7 pf_ 1815 Am & For Pw 2d pf_ 15 Am Hawaiian (1) .. 574 Am Hide & Leather. 372 Am Hide & L pf (3). 2'9 Am Ice 122 Am Internt] (uOc). Am Locomotive Am Loco pf (a3) Am Mach & F (t1) o a IO PS4 - 67 67 -4 20 —1% 167 4% = % 423 35% Contl Insur (11.f '0) 3% 2 Contl Motors 47% 39% Contl O1l Del (t1).. 35% 25 Contl Steel (1)__ 77 62% Corn Ex Bank (3)_. 71% b54% Corn Prod Ref(13).. 10% 6 Coty Inc 56l 41'% CraneCo. - 121 113% CraneCopf (7) .__. 1057% 100% Crane Co cv pf (5) 37 29 Cream of Wheat(2). 28% 184 Crosley Radloaly_ 100% 69 Crown Cork & S(2)- 25% 17 Crown Zellerb_ 81% b1 Crucible Steel 14% 7% Cuban-Am Sugar._. 20% 814 Curtis Publishing. 109% 71 Curtis Pub pf (7)_. 8% b5 Curtiss-Wright _ _ 23% 16% Curtiss-W (A)a50c. 86 72% Cushman Spf 3% _ 109 100 Dayton P&L pf 4% 137% 104% Deere & Co - 29 17% Detsel- Wem-(}(fl) 583 35 Delaware & Hudson 24% 14% Del Lack & West __ 10% 4 Den&RG W pf(d). 14614 110% Detroit Edison (t4). 36% 27 Diamond Match (t1 28 14% Diamond T Mot (1). 20% Distil Corp Seag 80 Distil C Sea pf ww b 18% Dixie Vortex(134) . 35 Doehler Die Cast(2) 8814 Dome Mines (12) _ 47' Douglas Afrcraft._. 45'% Dresser (A) (a3) . 113 Duluth SS&At] pf_ 4! Dunhill Internatl_ « Duplan Silk (1) 180'% 14813 Du Pont de N(b2%,) 2 1164k 1161} 1017 101 29 19% 58 44 Macy (R H) (42) _ 15% 10% Mad Sq Gard b1.15_. 63 42 Magma Copper (2)._. 30 16 Manati Sug pf (d).. 67 Man El md gta () . 6% 8% Maracaibo Ol Exp.. 97 Marine Mid (140c) .. 20% Market St Ry pr pf_ 41 Marlin Rock (12)_.. 187 Marshall Field .__.. 19% Martin (Glenn) 7 Martin-Parry 49»5 Masonite (1) % Mathieson Alk (133) 61'/. May Dept St (+3) ._. Mead Corp (b50c). Mengel Co Mesta Mach (hz%). 14% Miami Copper 251 Mid-Cont Pet (b50c) 34% Midld Stl Prod(12). Minn-Hon Ros (2) Minn-Hn R pt B(4) Minn Moline Pow Minn Moline Pw pf_ M St P&S S Mari M St P&S S M pf MStP&SSMilisin. 7 Mission Corp (b1) .. Mo Kans & Texas _ Mo Kans & Tex pf A Mo Pacific (d) . ... Mo Pacific pf () _. Mohawk Carp t1.20. Monsanto Ch (b1)._. Montg Ward (12) _ Mother Lode a1233¢ Motor Prod (b1%) _ Motor Wheel(160)_ Mueller Brass (+1)_ ° -3 o DTS 45% + % 26 Servel Inc (t1)._. 1% — W 29 Sharon Steel (11.20) 95 Sharon Stl pf (5) 9% Sharpe & Dohm 581 Sharp & Do Df(!%). 12 Shattuck F G (60c). 37% Sheaffer Pen(b134)_ 34% 25% Shell Un Oil(b50c) . 105% 102 Shell Un Ofl pf 6% 17% 12% Silver King (b65c) . , 40 Simmons Co (b50c). l% 31 Simms Petrol 485 —1% | 60% 33 =% 197 63% —1% 27% = " 31% —1% 124 = % 364 —1% 27% — 3 104% + 4 12% + % 44 —1% 42 Skelly Ofl (b50¢c) .- 85% Sloss-Sheffield Stl_. 120s 96 Sloss-Sheff pf (6)_.. 10s 27 Smith (AO) __ 27'; Smith&Cor cfs 12 19% Snider Pkg (b1%)_. 16% Socony-Vac (b25e). 3% South Am G & P 30¢c 221 So Cal Edison t1%_ 42'% Southern Pacific.__ 24 SouthernRy ... 40% Southern Ry pf . _. 51 SoRyM&Oct (4). 7 Spalding (A G) 60 Spalding 1st pt. 5% Sparks- Withing . 17% Spear & Co (a50c) _. 30% Spencer Kell (1.60) _ 16 Sperry Corp vtc(al) ll 27% Spicer Mfg (a3) . 19% Spiegel, Ine (1) ___ 8112 Splegel cum pf(414) l(fl)l 87% Square D (B) h60c 11% Stand Brands(t80c) 6% Stand Com Tobac . 5Y% Stand Gas & El (d) 12 Stand G&E $4 pf(d) 2 36'; Stand G&E $7 pf(d) 4 39% Stand Ofl Calif(t1). 35 P T S FRACTIONS T0 §2- Further Decline in Rails Finds List Vulnerable After Early Rise. a0 1 80 ndus. Rails mn Btks. Net change. ~—5 —3 —8§ Today noon. 88.6 36 4 396 63.1 Prev. day. 370 399 63.6 437 423 617 355 48.0 63.7 40.5 540 753 370 399 636 1936 high. 435 537 728 1936 low... 30.2 434 55.7 1932 low.. g 8.7 239 169 1929 high...146.9 153.9 184.3 157.7 1927 l1oW.... 51.6 953 61.8 61.8 1937 low-. (Complled by the Assoclated Press.) BY VICTOR EUBANK, Associated Press Financial Writer. NEW YORK, June 28.—A further decline in rails found the stock vul-v nerable today and losses of fractions to 2 or more poims foliowed an early DB R RN NS R RS NS RO | rally. 135'2 130% DuPont deN deb(6). 115'% 1104 Duguesne 18t (5) _ astern Roll Mills . Am Mach & Met 600 Mullins B (as0c) ... 4 Am Metals (b25c) .. Am Power & Light. « Am Pw & Lt pf (5)_ Am Pw & Lt pf (6)_ Am Radiator t60¢ Am Radiator pf (7). 4015 Stand Ol Ind (+1)_ 20 2 Mulling pf (1) ! 631 Stand OIL N J (1) - 41 [ Disappointment Murp'y G C pf (5) = 104 5 63! Sterling Prod t3.80. 3 6 3 2 WEEIeS T aVeR i Car : Murrav Corp(a50c) 10% Y . 17 Stewart-Warn t50¢ 5 pavea the way for selling in rails. i Nash Kelv (1 o 7 14% Stokely Bros (t1) _ 1 Meanwhile, despite the back-to-work 1l Acme (b23e) - 3 7 3% 17 Stone & Web(aZic). 14 | movement at strike-affected steel mills, Natl Aviation (a1)_ 12 Studebaker Corp _. 15 DB HAPN I~ NN ON®E which amounted to 7135 cents. Since the stock was marketed there has been a bid in the financial district at 9715. The fact that the bid is so much above the sale price is highly grati- fying to the underwriters and to the in some financial er earnings trends s 2 Washington Gas Co. As the stock has all been sold, however, there is no floating supply available at present. Washington Gas Light common stock “rights” are now being quoted at 15 cents bid and 25 cents asked. They will expire on July 12. These rights allow conversion of common stock into the new preferred. In case of fractional shares, many holders will want to sell the rights they have or buy more. That makes the new quotations of special interest and importance to the public. Branch Banking Hit Hard. Both the Virginia and West Vir- ginia Bankers' Association went on record as very much opposed to the McAdoo bills which would extend branch banking across State lines, the Virginia financiers stating that they were 100 per cent against the measures. Following election of Alex F. Ryland of Richmond as new head of the Virginia association, C. L. Robey of Purcellville was elected vice presi- dent at the closing session Saturday at White Sulphur. He is one of the most prominent bankers in Northern Virginia. C. W. Beerbower, Roanoke, was again elected secretary and Thomas D. Neal, Richmond, was named for another term as treasurer. H. H. Cooley, Round Hill, and T. H. Blanton, Bowling Green, were named to the association's Executive Coun- cil and T. E. Gebrell of Clarendon was made an alternate member of the Nominating Committee of the Ameri- can Bankers' Association, representing Virginia. Mrs. James B. Day, jr., of Norfolk was presented a special memorial gift in tribute to her husband, who was president of the association at the time of his death some months ago. The Washington bankers attending the convention were back at their desks today, most enthusiastic over the three-day session. Appleby Heads Loan Group. Charles A. Appleby was elected president of the Kenilworth Building & Loan Association at the fifteenth annual meeting of the stockholders held in the Union Trust Building. Bamuel K. Murphy was named vice president; Fletcher V. Shipley, secre- tary, and J. Leo Kolb, treasurer. The annual reports of the presi- dent, secretary and treasurer showed the association to be in excellent financial condition. They reported the past year as one of the best since the organization was incorporated in 1921, opening for business shortly afterward. The semi-annual dividend of 21: per cent will be paid on July 15 to stockholders of record as of June 30. Insurance Sales Compared. With the 3 per cent gain in new life insurance sales in May, Washing- ton was behind the national average gain of 6 per cent over May of last year. The Capital's five-month gain of 13 per cent, however, is better than the national record of 9 per cent. St. Louis led Washington and all the larger cities in May with a gain of 14 per cent, with Cleveland running second with a 12 per cent pick-up. Neither of these cities did as well as ‘Washington in the five-month period, compared with 1936. Forty-five per cent of the companies doing business in Washington wrote more new insurance in May this year than they did a year ago, in Maryland 54 per cent and in Virginia, 67 per cent, which accounts for Virginia's 28 per cent jump. In the report by districts, the Mid- dle Atlantic States were up 2 per cent in May and the South Atlantic States 10 per cent over May, 1936, the Hart- ford survey shows. Cycles Held Banking Danger. ‘The worst enemy of banking in this country has always been the business cycle, Leonard P. Ayres, vice president, Cleveland Trust Co., Cleveland, Ohio, and chairman Economic Policy Com- mission of the American Bankers’ As- sociation, told a general meeting of the Graduate School of Banking at Rutgers College. “Bankers have always made loans In periods of prosperity that turned out to be in greater or less degree un- collectable in the following periods of depression,” Col. Ayres said. “When the dgpressions were mild and brief the resulting banking troubles did not prove serious, but when they were severe the banks suffered greatly.” He said that with almost clocklike regularity banking has been hard hit in business depressions at intervals of about 20 years ever since this country has been in existence. Today’s Trading on Exchange. Capital Traction 5s opened the week on the Washington Stock Exchange at 88. Mergenthaler Linotype sold at 43, the first sale in several seasons and & new low for the year. Capital Transit came out at 10% and two shares of Riggs National Bank common stock moved at 322. Lanston Monotype was strong at 90. ‘Washington Gas stock was quoted “ex rights” today, with 78 bid and 82 asked. No sales. An unusually large number of other stocks are being quoted ex dividend. MONEY MARKET. NEW YORK. June 28 (#).—Call money steady: 1 per cent all day: prime commer- per. 1 per cent: time loans nendy days. 1%: 4-6 months. 1% bankers’ month: soount T Reserve Bank. w. e cent. 15013 2018 2915 14% i 20 6914 24% 100 46 111 13% 991y T0vy 16t 243, Am Roll Mill (2) Am Safty Raz (12)_ Am Seating (b25¢) _ Am Snuff (13) i Am Steel Fdy (b1) 2 Am Steel Fdy pf (7). Am Stores (b1%) Am Sugar Ref (2) Am Tel & Teleg (9). Am Tobacco (5) . _. % Am Tobacco (B) 5_. 128% Am Tobacco pf (6) - 12% Am Type Founders. 15% Am Water Wks 80c_ 8 Am Woolen 55 Am Woolen pf (b2). 6% Am Zinc & Lead 47% Anaconda Cop b7. 18 Anchor Cap (60c) 54 AP W Pap 40 ~ Archer-Dan-M(12)_ 106's Armour(Del)pf(7)_ 7 Armour of [11(b35c) 815, Armour(I11)pr pf 6. 5712 Armstrong Cork(2) 11 Arnold Const b7sc.. 15% Assoc Dry Goods 69'; Atch T & S Fe(a2) _. 94% Atch T & S F pf(5)_ 4413 Atl Coast Linecal)_ 22 At1G & W I pf(ad). s AUl Refining (t1)_ 2107 Atl Refin pf (4) 1101 lh’. 4% l’l 45% 65 35% 35 176% 100 41% 481 8215 12% 107% 243 8634 23% 82 63% 111 48 9015 6874 4 18% 32 10% 221% 135% 218 92 10% 40% 113 0 28% 15 Atlas Corp (80c) 5014 Atlas Corp pf (3)_—. 13'2 Auburn Auto ____. 5% Austin Nichols 5% Aviation Corp Del 474 Baldwin Loco (d) 415 Baldwin asd (d) - 20% Baltimore & Ohfo _. 29 Baltimore & Oh pf__ 381 Bangor & Ar (215)_. 100%s Bangor & A pf (5) » Barber Co (b25c) - 22 Barker Bros 35 Barker Bros pf 2% 241 Barnsdall (1) 14 Bayuk Cigar t75¢ 213 Beatrice Cream t1__ 101% Beatrice pf ww (5) . 105 Beech-Nut Pkg(t4). 11% Belding Hemin (1) 181 Bendix Aviat'n b30c 20% Benef Ind Ln (b35c) » Best & Co (214) 73 Bethlehem Steel (bl 17 Beth 5% pt (1) 108 Bethlehem pf (1) 5115 Bigelow-Sanf'd b1 Blaw-Knox (bi5c) - 2314 Boeing Alrplane _ 15 Boeing rts July 1__. Bohn Alum & B(3)_ 514 Bon Ami A (4) _ 21'; Borden Co (1.60) _. 387 Borg-Warner (2).. 8% Boston & Maine _ 15 Bridgep't Brass(1)_ 39Y, Briggs Mfg (b1%)_ 40 Bristol-Myrs t2.40 18!3 Bklyn-Man T (b2%. 23, Bklyn & Queens 26% Bklyn Un Gas(1.60) 45'% Brown Shoe (3) _ 163 Brunswick-Balk Bucyrus-Erte = 102% Bucyrus-E pf (7) Tix Budd (EG) Mfg _ 7% Budd Wheel b20c_ 31 Bullard Co (b30c) 501 Bulova Watch (+4)_ 237 Burr Add M (80¢) 414 Bush Terminal _. 15 Bush Terminal deb_ 13 Butler Bros (60c) 28Y% Butler pf (1%) 415 Butte Cop & 7(a5¢c) - 17! Byers (A M) _ 254 Byron Jackson (t1). 2% Callahan Zinc-Lead 12 Calumet&Hec b75c... 241 Campbell Wy ($1).. 2414 Canada Dry G Ale_. 12% Canadian Pacific__. 44 Cannon Mills (b1).. 131 Cap Adm A (b50c) . 9714 Car Clin & O stp (5) 6% Carriers & G (b10c). 30 Carpenter Stl bl.35. 138 Case(J 1)Co (4) 85 Caterpfllar Tr (+2)_ 26% Celanese Corp b1%. 361 Celotex Corp bdlc__ 73% Celotex Corp pf(5)_ 613 Central Foundry 973 Cent [1] Lt pf(415)_ 12% Cent Violeta Sug __ 60 Cerro de Pasco (4)_ 111; Certain-teed Prd .. 481 Certain-teed pf 3514 Champion Pap (11). 108 Champion P pf (6)_. 141 Checker Cab Mfg __ 6714 Chesapeake Crp(3). 501 Ches & Ohio 12.80 2 Chi Grt West (d) ___ 8% Chi Grt West pf (d). 24% Chi Mail Ord t1% . 1% Chi Mil St P&P (d) - 3% Chi M St P&P pf(d). 3WChiI&N W (d) . 9% Chi & N W pf (d)__. 21 Chi Pneumatic Tool 85 ChiPneuT pf (3)_. 2 ChiR1&Pac(d) _. 4 ChiRI&P 6% pf(d). 4% Ch1 RI&P 1% pf(d) 15% Chickasha Cott'n Of1 971 Chrysler Corp b3% . 1715 City Ice & Fuel (2) 80 City Ice & Fof 6% 6% City Stores 32 Clark Equip(11.60) 102% Clev B 1lu pf 435 86 Clev & Pitt (3%) __ 24 Cluett Peab'y b25 %% fs Cluett P rts Julyl. 170% 122'3 Coca-Cola (12) ES 17% Colgate-P-P(+50c) . 47% Collins & Alkn (12). 16 Colo & Southern . 155 Colo & South 1st pf_ 21% Colo & South 2d pf_. 10 Columb G & El(40c) 831% ColG& Epf A (6) .. % 2813 Columb Pic vte (1) 126% 69% 114 80 21% 111 Col Carb vte (14) ___ 56% Comc] Credit (+4) ._ 100 Comcl Cred pf (4%) 6313 Comel Inv T (t4) _ 13 Comcl Solv (160¢) _.. 4% 2 Comw & Southern . 19% 451 187 49 31 13% Conde Nast Pub __ 343 Congoleum Nrni(2). 97 Consol Cigar - 1 Cons Edis N Y(12) 99'; Cons Ed N ¥ of(6) 10% Consol Film pf(a2). 9% Cons l.aundries 1414 Consol Oil (180¢c) 4% Cons R R Cuba pt. % Cons Textile (d) 81 Cons Coal(Del)vte 33 Cons Coal Del vte pt 20% Container Corp 1.20. 18% Contl Baking (A) ... 2 Contl Baking (B)... 81 Contl Baking pf(8). * ,aRe ST Rl ) ST OYSIRTES 3~ P Sefot s o wluBure - SRwR anas@og 2 1101 119 80 29 llfi\fi 116% —1% 57% 5% -2 103 103 @ 64 + % lec Pow & Light _ slec Pw & Lt $6 pf . lec Pw & Lt $7 pf Slec Storage Bat (2! El Paso Nat G 1 60 k Horn Cl pf (d) .. dicott-John (3) uitable Office B ie R R 2d pf _ rdka Vacuum Evans Prod (1) Exchange Buffet Euirbanks Coof _ Fairb'ks-Morse (11) Federal Lt & Trac Federal Motor (40¢) Fed Water Sve A Fidel Phoenfx +1.60. Firestone T&R (2) - First Natl Strs t23 Flintkote Co (1) 2 Foster-Wheeler Tia Francisco Sugar .. Freeport Sulph (1)_ Gahriel Co (A) ir (Robert) Gamewell Co Gannett cv pf (6) Gar Wood Ind h25c. 2 Gen Am Inv(aTse) ien Am Trans b1l % Gen Baking (160¢) . Gen Bronze Gen Cable (A) Gen Clgar (14) 49% Gen Electric (b80c). 36 Gen Foods (2) ___ 115 Gen Gas & Elec(A). 60 Gen Mills (3) __ 117 Gen Mills pf (6) 481x Gen Motors (b13)_. 87x Gen Outdoor Adv 15t Gen Print Ink b30c_ 3% Gen Pub Service. ._ 654 41% Gen Ry Signal (1) 117'2 10413 Gen Ry Signal pf(6) 3 Gen Realtv & Util _ 31 Gen Realty & U pf 55 Gen Refract (b2) 201 Gen Thea Ep(b50c). 141s Gillette S Raz (t1)_ 2013 Gimbel Bros . 5112 41 dden Co (12) _ 581 51'3 Glidden cv pf(2%)_. 6 4 Gobel (Adolf) 2 81 5% Goebel Brew (120c). 50'; 31 Goodrich(BF) b50c. 478 273 Goodyear T & R bl 141 100 Goody'r T&R pf(5)- 1313 7% Gotham Silk Hose _ 96 83 Gotham S Hpf (7)_ 3 Graham Paize Mot_ 614 Granby Cons - 213 Grand Union ctfs___ 32 Granite City Stl(1)_ 34% Grant (WT) (11.40) 405 Grt Northernpf ___ 19 Grt Northn Ore (1) 34 Grt West Sug +2.40 14513135 Grt Wst Sug pf(7)_. 1674 12% Greyhound (180c)_. 43, 2 Guantanamo Sug 343, 28% Hackensack W bidc 20% 13'% Hall W ¥ Print 108 103 Hamilton W pf (6)_ 105 98 Hanna (MA) pf(5)_ 5814 40 Harb-Walker (+2) 17% 104 Hat Corp of Am 80¢ 8 4 Haves Body 109% 100% Hazel Atlas Gl (15) 15% 11% Hecker Prod (t60¢) 126 100 Helme (GH) (15) 39% 24 Hercules Motor(t1) 67% 58 Hershey Choc (13)_ 523 85' Hollana Fur(al%). 120% 102% Hoiland Fur pf(5) _. 30% 21 Hollander & Son(1) 49% 47% Homestake b371c . 27% 18% Houd-Hersh B(1%) 73 57% Household Fin (4)_. 17% 12% Houston Ofl vte .. 90% 62% Howe Sound (3) __. 15% 7% Hudson & Man pf__. 23% 13% Hudson Motor 4 3 Hupp Motor. 38 21% Lllinols Central 224 124 Indian Refin (a1)-—. 471 35% Indus Rayon (2) 14 125 Ingersoll-R'd (b1%) 131% 94 Inland Steel (14) __ 3'3'. 17% tnspiration Cop _ 4% Insur Sh Md (b10c) 131. 57 Inter Rap Tr vte(d) 111% 107% Interchemical pf(6) 11% 4% Intercontl Kubber 2815 16!3 Interlake Iron 5 Intl Agricultural _. 9914 Intl Harvester(23%) 87 Intl Hydro E1 A ._ 13 Intl Mercantile M _ . 10 Intl Miping (b30c) - 55% Intl Nickel (b1) . 16% Intl Paper (A)-ce—o 10% Intl Paper (B) cemm 5% Intl Paper (C) 90% Intl Paper pf 24 Intl Salt (113) - 52 31% Intl Silver. ... 49% 413 Intl Shoe (12) 5 15 7 9% Intl Tel & Tel 201 Interstat Dp St b2 107!/, 100 Inter Dept St pf(7) 87% 71 Jewel Tea (14) __. 155 120 Johns-Manv (13) _ 136 118 Jon&L 7% pfb3l%_. 46 28% Kalamazoo S (t1) __ 29 16 wansCity South 447 26% Kans City So pf(al) 35 26% Kaufmann (11.60) . 27% 2015 Kayser J & Co (2) - 69% 51 Kennecott Cop b1} 14% Keystone S&W b30c 47% Kinney pf (a1) Kinney (GR)pr pf & 20% Kresge (S S) bélc_- Kress S H (1.60) 18 Kroger Groo (11 18% Lambert Co (2) 12% Lane Bryant (b50c) 17 Lee Rubber (b1) 15 Lehigh Valley Coal. 9% Lehigh Val Coal pf_ 131 Lehigh Valley R R 36 Lehman Corp'n(t1) 15 Lehn & Fink b623%¢. 61% Libbey-Ow-F b76c. .. 9% Libby McN & L(a1) 93 Ligg & Myers (14)_. 94% Ligg & Myers B t4_ 51% Link Belt (+2) ___. ‘s [no (12) Loew's Inc pf(6%) - Loft Ine 50% Lone Star Cem (3) _. 5% Long-Bell Lumb(A) 28% Loose-Wiles (2) . 20 Lorillard P (+1.20) 19% Louis G&E A b37%¢ 84 Louis & Nash b2l _ 29% Ludlum Steel (t1) . 25 McCall Corp (t3) .. 14% McCrory stores. ... 32% Mcintyre Porcu(2). 81% McKeesp't Tin P(2) 12% McKesson & Rob.... N S oo O D e 53 O B i A 30 i 103 3 00 1D et e 9D 0 e b TR =4 WD DD - & PO 005 D00 RO S e i 00 00 - (3 III!_I_I R I 1R R T 1w | 14)nv o | -2 Natl Risenit (1 60) tl Bnd&l pf Ae5) tl Cash Reg (15 . Natl Dairy Prd 1.20. vatl Dept Stores ‘at] Distiliers(t2)_ Natl Gypsum = atl Lead (t50¢) vat] Pw & Lt (60c)._ ] Ry Mex 2d pf__ Natl Steel (1215) 4 Natl Supply (new) 2 Natl Supply pt M% Natl Tea tomas (180¢c) Neiser Bros (2) NewOr) T&M (4) wp't Indus b1 _ ) Central - X Y City Omnibue N Y Dock pf (new)_ Y Investors (d) NY NH& H () NY NH & H pf () N r Ontario & W_ pbuilding._ N Y 1ipbldg pt Norf & \V pf (4) __ North Am Aviation North Am Co (b60c) North Am Co pf (2) North Am Ed pf (6) Northern Pacific Norwalk Tire & R._ u. Ohio Ol (b30e) __ Oliver Farm Equip Oliv F Eqrts Ju12_ 2 Omnibus Corp vte.. 2 Omnibus pf (8) ___ Oppenheim Collins_ Otis Elevator bd0c. Otis Steel Otir Stlev pf (51) - 8213 Owens-111 Glass (3) 17% Pacific Am Fish 1.20 Pacific Coast Pacific Coast 1st pf. Pacific Coast 2d '« Pac Gas & Elec (2). Pac Lighting (3). Pacific Mills (b1)_ Packard Mot (b15¢c) Panhandle P& R . Panhandle P&R pf_ Paramount Pie - Paramnt 1st pf (6)_ 5t Paramnt 24 of 60c Park & Tilford (2) . Park Utan Parke Davis(b1.40). Parker Rust (11%). « Parmelee Trans __. Pathe Film Corp _ Patino Mines(t60¢) « Peerless Corp Penick & Ford (b1)_ Penney J C) (4) _ % Penn Coal & Coke Penn Dixie Cement._. Pa Glass ctfs b25c__ 5 Penna R R (b30¢) Peoples Drug (t1)_. Pere Marq pf . ___ Patrol Corp(A) bée Pfeiffer Brew bic Phelps Dodze BS0c .. Phila Co 6% pf (3)_ Phila Co pf(6)new _. 3. Phila & Read C& I 861, Philip Morris(b3%) Phillips Petrol(12)._ Pittsburgh Coal Pitts Serew (bi5e) Pitts Steel pf Pitts Term Coal Pitts United Plymouth Oil b70e_.. Porto R Am Tob A _. 151 Postal Tel&C pf(d). 315 Pressed Steel Car 6519 5513 Proctor & Gam(+2). 118'5 11413 Proc & Gamb pf(5, 523 36% Pub Sve N J (2.60)_ 112% 100 Pub Sve N J pf (5)-. 7214 521 Pullman Inc (1%).. 24% 16% Pure Ofl 112% 108 Pure Ofl pf (8) 23% 15% Purity Bak (60 12% Radio Corp 80 Radio 1st pf (3%) _. 10% 67 Radio-Kelth-Or (d). R R Sec (11 Cent ___ Reading RR (2) _. Reading 1st pf (2)_. 2 Reliable Stores (1)_ Rem-Rand (b55¢) _ Rem-Rd pf ww 4% _ Rensselaer & S(8) __ Reo Motor Car Republic Steel Repub Steel pf (b3) - Revere Copper __ Revuolds Met (11)_. Reynolds Spr (11)_. Reynolds Tob (3) __. Reynolds Tob B (3). + Rhine Westphalia_. Ritter Dental (t1)_. Roan An C (b1.11) . Ruberoid Co (60c) _. 31 Safeway Stores(t2) 43% St Joseph Ld (12) - 215 St L-San Fran (d) .. 5Y St L-San Fr pf (d).. 39% Schenley Dist bl%_. 134 Schulte R Stra (d) . 13 Schulte R S pf (d) . 114 Seaboard Air L (d) - 414 Seaboard A L pf(d). 36% Seaboard O1} (1) ... o e OHPARNS RN AR 125 118% Sun Oil pf (6) _ 108 37% Superheater (113) .. 2 44 Superior O11 1 32 Sutherland P t1.60_. 21% Swift & Co (11.20) _. 297x Swift Internatl (2)_ ming ww (b3 49% Talcott (J) pf +2% _ 10% Tenn Corp (b2ic) 5fl‘. Texas Corp (2) 2 's Texas Gulf PraSe _ 33% Texas Gulf Sul (12) 11% Tex Pac C&O bl0c . 10 TexasP L T (al0c). 7% Thermoid Co . 3 Third Avenue 23 Thomp Prod bd0c _ 313 Thompson Starrett 15% Tide Wat As Oil 80¢ 91% Tide Wat AO pf 47 17% Timken-Detroft(t1) 55% Timk'n Roll Brg(3) 12'3 Transamerica t40c 13% Trans Wst Afra2ic 16 Transue & W(t60c) 7%« Tri-Cont’l (b25c) . 1024 Tri-Contl pf (6) ___ 813 Truax Traer bSic 14 Truscon Steel - 33 20th Cent Fox (b1). 42 20th Cent F nf(l%? 87 Twin City R T 66 Twin Cit RT pfhi . 108 16'; Twin Coach (blsc) . 213 Ulen & Co Und-Ell-Fish b1 % Union Bag & P (2)_ Union Carb (3.20) Union Of1(Calif)1.20 1 Union Pacifie (6) _ 90' Union Pacific pf(4) it Aircraft bi0c. 141; Utd Afr Lines a20c_ 22% Utd Biscuit (1.60)_. 69% Utd Carbon (4) 4 Utd Corp (a20c¢).. 32% Utd Corp pf (3) 11 United Drug (b25¢). 18% Unit Dyewood t1) 5% Utd Elec Coal 77 United Fruit (+3)_. 11 Utd Gas Imp (1) 103 Utd G Imp pf (5) __ 6'3 Unit Paper'bd b3oc. 1'; U S Distributing __ 15% U S & For'n Secur. 10313 U S Gypsum (12)_ U S Hoffman o BRonzem K - =t JOTH-Sgrt o R =T UEC P OTO YRR YO} s o) 131 U S Lea (A) vten _ 4412 U S Pipe & Fdrv(3). 10 U S Realty & Imp. 44'4 U S Rubber 12615 U S Steel pf (1) 2 16"0 147 U S Tobacco pf (7). 10s 5% Unit Stk Yds (50¢) 6 1% Util Pw&Lt (A)(d) 11 1'3 Vadsco Sales Corp. 1 48 Vadsco Sales C pf. 308 241y Vanadium Corp 8 34 Van Raalte (b1%)._. 7 Va-Car Chemical 48'; Va-Car C 6% pfblly 106 Va El & Pw of (6). Walgreen Co (2) 42'; Walker (H) (2) 11% Walworth Co 5s Ward Baking (B) 75 Ward Bak pf(b2%) 11'a Warner Bros Pict _ 6% Warren Bros (d) __ % 3 6% 33% Warren Fy & P 12 _ 27% Waukesha Mot (1) 84 Wayne Pump (2).. 5 Weils Fargo . ____ hu Wesson O&S (150c) 80 Wesson O&S pf (4)- 90 West Penn El A (7T) 108 905 West Penn El pt(7) 108 51103 West Pa Pwr pf (6) 140s 24 WnAutoSup160.. 2 7% Western Maryland_ 5 513 Western Pacificpf_. 2 4312 Westn Un Tel (3)__. 51 401, Westingh'se A B(1) 10 130% Westhse Elec (b2) 12 143 West'se El Ist pf b2 308 144 147 -1 21 Weston El Inst b25¢ 1 p 19 Westvaco Chior (1) 8 291; Westvaco65%pf 1% 2 114 Wheel&L Epf(53%) 108 38 Wheeling Steel T 99 Wheel Steel pf b2% 20 White Motor 25 White Sew Mch pf_. 813 Wilson & Co (50c) .. 77 Wilson & Co pf (6)_ 444 Woolworth (2.40) _ &1 Worth Pump pf(A) 665 Wrigley W ir (+3) . 48 7ale&Towne(160c). 204 Yellow Tr & Coach_ 142 123 Yell Truck pf b3% . 101% 74% Ygstn S&T (b75c) 40% 30 Zenith Radio (b1)__ 3 32% Approximate Hourly and Total Sales on ) 110,000 00 Noon. .. 400000 2:00 P.M. -- Total Sales for the day. 730,000 Disidend rates as given in the above table are the annual cash bayments based on the latest quarteriy or half-vearly dec- arations 8 Unit of trading less than 100 shares. not including " extras " & Baidact vear d Companies reported in receivership or x Ex dividend. 2 -1 tAnnual rate— b Paid this year 38% — 1 being reorganized SHORT-TERM SECURITIES. Reported by Chas. D. Barney & Co) N Bid. Offer. Amer Tel & Tel 5'as 1943 1 Auburn Auto Co 43,5 1939 Bald Locom Works 5s 1940 1 Calif Packing Corp Carto Clinch & Ohio 5s 1938 1 Chevap & Ohio Ry 55 1430 Edison Elec Illu 4s Lo Gen Pub Bvc 5'as 19: Grand Rap & Thd 412 1041 Houston Ot algs 104 - s 1 Midind HRof N3 5 1640 | Myw & North R AYes (30 otes '38 Fined for Marrying. For remarrying the wife he di- vorced last year, thus breaking a Mo- hammedan law, & Malay of Kuala Lumpur, Malays, was fined $15. NEW YORK COTTON ¥ the Associated Press. NEW YORK, June 28.—Early de- clines in cotton today, under liquida- tion promoted by easier Liverpool cables and favorable weather, were followed by recoveries on covering pro- moted by strength in wheat. October rallied from 12.18 to 12.33 and in midafternoon sold at 12.31. Prices were 2 to 9 points net higher. ouritures closed steady, unchanged to 6 Low. 1237 EASTERN GAS & FUEL SHOWS $563,658 LOSS Special Dispatch to The Star. NEW YORK, June 28.—Eastern Gas & Fuel Associates reports for the 12 months ended May 31, 1937, total in- come of $10,848,481 available for Fed- eral taxes, depreciation and depletion reserves, interest and dividends. After all charges the net income (exclusive of intercompany profits) amounted to $2.905,035. After provision of $1,108,733 for 4'2 per cent prior preference divi- dends, $2,253,228 for 6 per cent pre- ferred dividends and $106,732 for State taxes on dividends, the deficit was $563,658. All figures are subject to the annual audit by certified public accountants. For the 12 months ended May 31, 1937, compared with the same period for 1936, coal sales tonnage showed an increase of 16 per cent, coal trans- portation increased 8 per cent, coke sales tonnage increased 4 per cent and gas sales by the public utility subsidiaries showed no change. Close. 1 Cottonseed Oil. Bleachable cottonseed oil futures closed steady, 1 to 3 higher. Sales, 261 contracts, including 52 switches. July, 9.15a16; September, 9.23; October, 9.21; December, 9.14b; January, 9.17. New Orleans Prices. NEW ORLEANS, June 28 (#.—Cotton opened steady 1 to 3 points lower today. Early advices indicated weather wa: ideal over the week end. opened at 12.21 October at 12.25. T, 12.3 v, 12, T a Cottonseed oil opened steady; utét, | B.58b: September. 8.85b: October, 8.67b; y, ' December, 8.50b; January, 8.60b. B b—Bid. a comparatively | » | stinct was | Illinois Central =1 1‘.’7‘. 136'x—1'z Wall Street said continued disputes | between employers and workers cast a shadow over the industrial profit oute look. Weakness in bonds also dise couragec traders, it was said. The slow pace of trading on the decline, however, was seen by analysts, as an indication traders were still in calm mood. Transactions approximated 650,000 hares. ~ That the maxkq's speculative ine dormant, observers said, | was illustrated by <eemmu indifference ‘0{ farm implement shares to the up= rush of wheat, the full allowed limit ’- of 5 cents a bushel for some options. b lt finished 3%y to 37: cents a bushel \ higher. Corn was up 1'g to 334 cents. Cotton was mixed Shares under pressure were Santa Fe, New York Central. Pen lvania, Southern Pacific, Southern Railway, Northern Pacific, Baltimore & Ohio, Atlantic Coast Line, United States Steel, Bethlehem, Re- public, American Steel Foundries, General Motors, Chrysler, Goodyear, Sears-Reebuck, Case, International Harvester, Deere, Boeing, Douglas Aire craft, American Telephone. Western Union. Anaconda. Kennecott, Ameri= | can Smelting, Loews, Westinghouse, Du Pont, Amerada, Standard Oil of New Jersey, Philips Petroleum, Con- | tainer Corp.. Lone Star Cement, Canada Dry, Celanese and Industriale Rayon Resistant were Dome Mines, Ameri« can Can, Union Carbide and Ohio Oil. A drop in carriers was explained by experts in terms of preliminary esti= mates of May revenue for class 1 sys- tems showing a substantial up-turn in operating expenses. This indicated, some said, the industry probably op- erated at a small loss for the month. At the same time it was noted thag . | except for granger roads in the South~ west enjoying a large wheat harvest Western carriers are confronted w a let-down in freight shipments. CHICAGO GRAIN By the Associated Press CHICAGO. June 28.—In a late buy= | ing stampede today. wheat prices ran up to the extreme immediate permis- sible limit, 5 cents a bushel, at mofl | North American markets Spring wheat markets led the sky- rocketing of values, influenced by * | spread of black rust northward, and by | sensaticnal curtailment of Canadian | crop estimates because of drought | damage. Some estimates put the 4% — 4 | probable size of the Canadian crop as |low as 150,000,000 bushels, about 50 per cent of expectations a month ago. At the close Chicago wheat futures | were 31,a374 above Saturday's finish, July 1.18%4a1.1875, September 1.197:a | 120. Corn 1':a3% up, July 1.27 September 1.12!zal.l to 2 cents advanced. \\HE‘\T— Qoen. | High. Low Dec 192 SOY BEANS— July 1.13' 1.14% /R, 021, S414 8512 16.00 1675 Chicago Cash Market. Cash wheat, new Indiana, No. 1 ed, 1.23':; No. 1 red, tough, 1.21%;; No. 1 rPd garlicky, 1.207; hard, 1.31'2; No. 2 hard, 1.32‘;. Com. No. 2 mixed, 1.25%; No. 3 mixed, ¢ 1.25%; No. 5 mixed, 1.17; No. 2 yel- low, 1.25%-27%¢; No. 3 yellow, 1.24- | 26; No. 4 yellow, 1.21',-221;; No. 5 yellow, 1.17; sample grade, 1.10. Oats, | No. 1 white, 52%-53; No. 3 white, 50; sample grade, 467, -47'; beans, No. 3 yellow, 131 feed, 53-67, nom.:. malting 75-97, nom.; timothy seed and clover seed no quotations. ain range Previous JLow, Close se. 07 » 'z 124138, Baltimore Quotations. BALTIMORE. June 28 (7). —Wheat. No. 2 red Winter, garlicky, spot, domestic, 1. for old. ATTENDS BERLIN CONGRESS. NEW YORK, June 28 (Special).—C. M. Wynne, director of exports for the Diamond T Motor Car Co., is in Ber~ lin as one of the three delegates of the automotive industry of the United States to the ninth congress of the Ine ternational Chamber of Commerce to be held June 26-July 3. U. S. TREASURY NOTES. NEW YQRK. June 28 (. —Prices quoted dollars and thirty-seconds. Approx. Month. Year. Bid Asked. "yteld.