Evening Star Newspaper, June 30, 1937, Page 18

UPTURN FORECAST AT STEEL PLANTS Vitality Displayed Despite Strikes Regarded as Good Sign. By the Associated Press NEW YORK, June 30.—The vital- ity displayed by the steel industry under the handicap of strikes and other unsettled conditions leads the trade to believe an upswing in new business will develop once the labor situation has quieted down, Iron Age said today in its weekly review. “While new orders continue to run behind shipments,” the publication said, “the total volume of busiress booked in June was not much, if any, below that of May. For some com- panies the June volume ranged from 65 to 75 per cent of shipments. “New business is heaviest in sheets, plates, structural shapes and oil-coun- try pipe, while tin plate booked some time ago continues to tax the capac- ity of mills, some of which are doing extra turns to supply customers’ in- sistent demands. “‘Outstanding in the week's business | was a 240-mile pipe line requiring 16,000 tons of 8-inch pipe placed by the Atlantic Refining Co. and 7,500 tons of 10-inch pipe bought by Shell Petroleum Co.: also 18,000 of fabri- cated structural steel to be furnished by Bethlehem Steel for a Mississippi River bridge at Baton Rouge, La. “For the third consecutive week, the Iron Age composite price on steel scrap is unchanged at $17.08, but the scrap market undertone is stronger. “A combination of declining busi- ness and the shutting down of some steel plants for vacation periods has brought a sharp drop in the produc- tion rate in the Pittsburgh and Wheeling area, but the partial re- sumption of steel making at Youngs- town mills, with a rise of 19 points in that district, has more than offset the Pittsburgh-Wheeling loss, result- ing in an indicated average for the country this week of 76.5 per cent, up 8 point and a half from last week." NATIONAL TEA SALES CLIMB 6.5 PER CENT Br the Associated Press. NEW YORK, June 30.—National Tea Co. reported a gain of 6.5 per cent in sales for the four weeks ended June 19 compared with last year or & total of $4,931,217 against $4,628,100 in 1936. Sales for the 24 weeks amounted to $29,774,007 compared with $28,130,567 in the same period of 1936, a gain of 5.8 per cent. HUMMEL IS ELECTED EAGLE PICHER CHIEF Bs the Assoolated Press. NEW YORK, June 30.—Former ‘Treasurer Joseph Hummel, jr., of Eagle Picher Lead Co., has been elected president succeeding A. E. Bendelari who resigned July 1. Bendelari will continue as director and member of the Executive Committee. THE WEATHER District of Columbia—Showers this afternoon or early tonight; tomorrow fair, not much change in temperature; gentle variable winds, becoming north. Maryland and Virginia—Partly cloudy, preceded by showers in east portion this afternoon or early to- night; tomorrow fair, not much change in temperature. West Virginia—Fair tonight; tomor- row fair, slowly rising temperature in west portion. River Report. 7 Potomac and Shenandoah Rivers muddy today. Report for Last 21 Hours. Temp. Barometer Yesterday— Desrees. T ipm. _ R4 R pm Midnight - Today- ia (From noon_vyesterday to noon_today.) Highest. 55, at 2.20 p.m. yesterday. Year ago. 85 Lowest. G4, at 6 am. today. Year ak0. 65, Record Temperatures This Year. Highest, 03 on April 18 west. 19. on February 28. Humidity for Last 24 Hours. (From noon vesterday to noon today.) Highest, 97 per cent. at 5 a.m. today. Lowest. 33 per cent, at 1 p.m. yesterday. Tide Tables. €Purnished by United States Coast and Geodetic Survey.) High Low High p. Low 7:06 pm. The Sun and Moon. Bun. todsy ____ 8un. tomorrow _ Moon. today 11:21 pm. Automobile lights must - be one-haif hour after sunset. turiied on Precipitation. Monthly precipitation in _inches in the Capital (current month to date): Month, v anuary ' Beptember October _ November ember 3.3; Weather in Various Cities Atlanta. Atlantic Baltimore. Birmingham Bismarck. Mass . N Y Charleston_ S.C. Chicago. Til. Cincinnat{ Cleveland. Oh Columbia. §. enver. Colo. Detroit. Mich io ok SEEZRRER Omaha, Nel Philadelphia Phoenix. Ariz Pittsburgh, Pi 1P 3BDINITBAT A PEFERmESEA o &3 Raleigh 'N._ C. 8alt Lake City. 2 Cloudy Foreign Stations. Temperature. Weather. m., Greenwich time. tod Stockholm, Sweden Gibraltar. Spain _ (Noon. Greénwicl Horta (Fayal) Azores (Cyrrent ob: Bt. Georges, Bermud Juan_P. R. Syndicate Offers 500.000 Shares of Du Pont Preferred By the Associated Press. NEW YORK, June 30.—A syndicate headed by Morgan Stanley & Co. to- day offered 500,000 shares of E. I. du Pont de Nemours & Co. $4.50 cumu- lative preferred stock at $100 a share. Proceeds to the company of $48,750,- 000 will be applied to working capital ior general corporate use. While the company announced it has made no specific allocation of the funds, finan- cial circles assumed they would be used for expansion and improvements. The new shares are junior to the debenture stock both as to assets and dividends, but rank ahead of the pres- ent common. LITTLE RELIEF SEEN IN CANADIAN DOUGHT By the Associated Press. OTTAWA, Ontario, June 30.—Little relief from the drought conditions prevailing in Saskatchewan came dur- ing the last week, the Dominon Bu- reau of Statistics reported in its third crop report covering all Canada. Crops are doing well in Manitoba, | but much of the wheat land in Sas- katchewan is definitely beyond hope as far as commercial crop prosects are concerned. Uneven distribution of rainfall throughout the country the last two weeks resulted in excessively wet weather in the maritime provinces and British Columbia, with Saskatchewan, where rain was most needed, remain- ing dry. Wheat areas in both Sas~ katchewan and Alberta have not re- ceived enough moisture. BONDS AT INDIANAPOLIS By the Associated Press. PHILADELPHIA, June 30.—The Indianapolis Union Railway Co. will pay off tomorrow all of its outstand- ing series “B” general and refunding mortgage 5 per cent gold bonds, due January 1, 1965, in the principal amount of $3,659,000, which have been called for redemption on July 1 at 103 per cent, it was announced to- day. These bonds are being redeemed in part with proceeds from the sale last April of $3,150,000. Refunding and improvement mortgage bonds of the railway company at the lower interest rate of 3!'2 per cent. Baby Own Grandfather. A baby born in the Zwolle district of Holland is actually his own grand- father. Amsterdam reports declare that in 1928 a man of 66 marricd a girl of 18. At the wedding breakfast the 42-year-old son of the bridegroom by a former marriage met the mother of the young bride, a widow of the same age as himself. They were mar- ried in January, 1929. As a result of this double marriage the son became the father-in-law of his own father. The son’s child at birth was his son and also his great-grandson by mar- riage because it is the grandson of one who is not only the father, but also the son-in-law of the child’s father. Relatives say this makes the child its own grandfather. NEW YORK BAR SILVER. NEW YORK, June 30 (&) —Bar silver, steady and unchanged at 44%. Copr., 1937, P. Ballantine HE EVENING Washington Exchange SALES. Capital Transit Co.—100 at 10%, 100 at 10%, 100 at 10%4, 100 at 10%, 100 at 10%. 100 at 10%, 100 at 10%, 80 at 10%, 6 at 10%2, 10 at 10%, 10 at 101, Capital Transit Co—10 at 10%, 8 at 1074, 1 at 10%. AFTER CALL. Washington Raifway & Electric ptd.— 5 at 111, 55 at 111 Mergenthaler Linotype—25 at 43, 25 at 43, 5 at 43. Bid and Asked Prices. BONDS. PUBLIO UTILITY, Bid. Amer. Tel. & Tel. 4%s 104% Anacostia & Pot. 55 i Ana. & Pot. Guar. 5s C. & P. Tel. of Va, = Capital Traction R. R. 55 _ City & Suburban 55 = Asked. 90 ka4 . . 3,8 108 Wash. Gas B5s 1958 ______ 105% Wash. Gas 55 1060 __ . 114 4 Wash. Rwy. & Elec. 45____ 106 MISCELLANEOUS. Chevy Chase Club 1st 4%s__ 104 W. M. Cold Storage 55 100 STOCKS. PUBLIC UTILITY. Amer. Tel. & Tel. (9) Capital Transit Co. N. & W. Steamboat (6) Pot. Elec. Pow. 6° . El_P. 52% Df. Wash. Ry. & EL pfd. (5) " 110% BANK AND TRUST COMPANY, Amer. Sec. & Tr. Co. (eS)__*285 Bank of Betheada (n.75) Capital s om. & Savings (e10)- Liberty (4) o= Lincoln (16.25) G National Sav._ & Tr. Pr. Georges Bk. & Tr. (.50) FIRE INSURANCE. American (6)__ Corcoran (5) 2 Piremen's (1.60) National Union (.60) TITLE INSURANCE. Columbia (.30) Real Estate (8) MISCELLANEOUS. Carpel Corp. (2.00) Lanston Monotype (74) 11 170 | Lincoln serv. ‘com. (11 00 - Lincoln Serv. pfd. (3.50) Mergenthaler Lino. (2.00) Peoples Dr. St com. (11.00) Peoples Dr_ St. pfd. (6.50) Real Est. M.&G. pfd. (**.70) Securlty Storage (5) = Ter. Ref. & Wh. Corp. (3) Wdwd. & Loth. com. (+1.50) Wdwd. & Loth. pfd. (7) *Ex_dividend B ; 45¢ paid De- RAINS NEEDED AGAIN. ‘Weather Bureau crop experts re- ported today rain soon would be needed again in the Western Great Plains where temperatures have been above 100 degrees. Some damage to new crops by heat, rust and grasshopper in local areas was reported. DIEHL FANS A Size and Type for Every Need q FOR: Kitchens o types: for wall or window mount- ing: either style works effciently quietly and economically in dispelling odors and keeping air in rooms vitally fresh. A welcome addition to any room’ in ‘the hou: year guarantee. J. L. ELLMANN 827 Y4th S1N.W. NA. 5548 , N. STAR, WASHINGTON, U. S. Steel Votes Preferred Arrears Of $2 Per Share Bs the Assoclated Press. NEW YORK, June 30.—In another surprise move, United States Steel Corp. directors yesterday voted pre- ferred shareholders a dividend of $2 a share, involving a distribution of about §7,200,000. The payment was on account of back dividends which accumulated during the depression years. The arrears account is now reduced to $1.25 a share, or approximately $4,- 500,000. A month ago the directors, in an unexpected move, ordered a similar distribution. It was the second suc- cessive $2 dividend on the shares de- clared by the board at monthly meet- ings. Ordinarily the corporation takes dividend action only at the quarterly sessions, Dividend arrearages accumulated on the preferred between the last quar- ter of 1932 and the third quarter of 1936 to the amount of $18.25 a share, or $65751,000. About $12 of this was liquidated during 1936 as earn- ing expanded under revival in the industry. — o U. S. BONDS HOLDINGS OF BANKS REDUCED By the Assoclated Press. NEW YORK, June 30.—Government bonds held by banks were down sharp- ly in the week ended June 23, accord- ing to the report of leading Federal Reserve members of the Board of Gov- ernors. The setback followed on the heels of an equally sizable gain the week be- fore, due to heavy subscription to the recently floated Government loan, and is understood to reflect adjustments for larger allotments than expected. Direct obligations of the Federal Government held by banks in 101 cities compared as follows Week ended June 23____$8,374,000,000 Previous week _________ 8,556,000,000 Same period a year ago_. 9,474,000,000 o CUBA SHIPS MORE SUGAR. NEW YORK, June 30 (#).—Cuban exports of sugar from January 1 to June 26 totaled 1,524,723 long tons, an increase of 6.6 per cent over 1,430,768 tons in the corresponding period last year, according to Havana advices re- ceived by Lamborn & Co. RAKE RELINED 4 Wheels Complete Ford 3 $ 4,50 : s‘irvs *30 Chev. w32 Other Cars Proportionately Low S FREE ADJUSTMENTS! ENERAL BRAKE SERVICE De ‘Soto. 6-8 e, Soto, 4.8 x)fiv‘“’a‘ e - BY INTERN AL REIEWY C., WLUNE Baltimore Markets 8Bpegial Dispatch to The Star. BALTIMORE, Md, June 30.—Po- tatoes, new, barrel, 1.50a1.75; 100- pound sack, 1.00a1.10; sweet potatoes, bushel, 75a1.40; yams, bushel, 60a 1.25; asparagus, crate, 1.00a3.25; beans, nearby, bushel, 90a1.10; beets, nearby, bunch, 11%2a2; cabbage, point- ed type, hamper, 25a40; round type, bushel, 40a65; carrots, California, crate, 4.50; New Jersey, dozen bunches, 40a50; nearby, bunch, 3a4; cauliflower, crate, 1.75a2.00; celery, crate, 2.75a 4.50; corn, crate, 1.2581.75; nearby, dozen, 20a25; cucumbers, bushel, 50a 1.25; nearby, half bushel, 60a75; egg- plants, bushel, 1.00; lettuce, Western, Iceberg, crate, 4.25a4.50; Eastern, Big Boston, crate, 25a65; lima beans, bushel, 2.75a3.00; onions, 50-pound sack, 90a1.50; peas, bushel, 1.25a1.90; beppers, crate, 1.50a2.50; bushel, 1.00a 165, spinach, nearby half bushel, 35a60; squash, nearby, half bushel, 60a75; tomatoes, lug, 50a1.65; applies, box, 2.65a2.75; bushel, 75a2.00; black- berries, crate, 1.25a2.50; cantaloupes, crate, 1.25a4.00; cherries, nearby, Mo- rello, pound, 4a5; grapefruit, box, 2.5004.50; honey ball melons, crate, 3.0024.00; honey dews, 2.25a2.50; huc- kleberries, quart, 10a12';; oranges, box, 2,75a5.00; peaches, half bushel, 60a1.60; bushel, 1.25a2.75; raspber- ries, red, pint, 8.15; black, quart, 9a13; watermelons, each, 35a55, Live Stock Market. Cattle—275; steers fully steady with Monday; load 1,100 pounds Vir- ginia grassers, 11.35; cows, weak to 25 cents lower; low cutter and cutter grades, mostly 4.00a5.50; plain and medium grade fat cows, 6.00a6.75; plain and medium bulls steady, from 6.00a7.25. Calves—125; vealers steady with . bulk sales Tuesday; good grade, 10.00a 10.50, mostly; plain and medium, 7.50a | 9.50; culls down to 7.00 or below. | Hogs—275; weights from 140 to 300 ' PORCH MATERIALS , JUNE 30, 1937. pounds mostly 10 cents higher than Tuesday’s levels; pigs up 15 cents; packing sows unchanged; good and choice 170 to 210 pounds, 12.30a12.55; practical, top, 12.55; 220 to 250 pounds, 11.90a12.30; 260 and 300 pounds quoted 11.25a11.90; 140 to 160 pounds, 12.10a12.35; 120 to 140 pounds, 11.25a11.75; good grade sows, 10.15a 10.65; hogs from doubtful areas not represented in above prices. Sheep—550; undertone in Spring lamb trade weak to lower; no action as yet on two railroad decks; scattered sales good to choice trucked-in ewes and wethers, 11.50a12.00; small lot, closely sorted, 12.25; bucks, 1.00 less; plain and medium, 9.00a10.50; culls down to 8.00 or below; fat clipped slaughter ewes steady, from 4.00 downward; old thin sheep around 1.50. Dairy Markets. Live poultry—Broilers, Rocks, pound, 20a23; mixed colors, 20a22; Leghorns, 15a18; fowl, Rocks, 19a20; mixed col- ors, 17a19; Leghorns, 13al5; roosters, 10a12; ducks, 12a14. Eggs—Current receipts, dozen, 20a 21; hennery whites, large, 23a24; me- dium, 21a22. Receipts, 2,671 cases. Butter—Prints, pound, 34a35; good to fancy, creamery 32a33; packing stock, 16al7; rolls, 19a20. Receipts, 1,407 tubs. Grain Market, Opening prices were: Wheat, No. 2 red Winter, garlicky, spot domestic, 120, nominal, old. Settling prices were: No. 2 red Winter, garlicky, spot domestic, 1.2, nominal, old. Corn, No. 2 yellow, domestic, 1.20; Western billing at a premium over this price; cob corn, nominal. Oats, No. 2 white, domestic, 62a72; No. 3, 6la7l, with the exception of grain on track there is an additional charge of 11, cents per bushel for storage and elevation. Rye, No. 2, 1.10a1.15. Barley, 70a75. Hay—Receipts generally light and while market is dull values are well maintained. Good choice timothy and clover mixed hay are selling mostly 17.00 to 22.00 per ton, but poor grades are hard to move and Repair or Rebuild Now at Savings! FLOORING OF select Georgia Pine, foot ----10%¢c PORCH RAIL, made of red wood, lin. PORCH COLUMN BASES __ 1 $1.50 up , COLONIAL ROUND PORCH COLUMNS $ PORCH NEWELS, 6x6.4. Each 8 up -.$3.75 Free Estimates on Your Needs. WALL BOARDS OF ALL KINDS . 3VYe 6% 5c 4 6c FIBER WALLBOARD, square foot CELOTEX PANEL BOARD, square foot SHEET ROCK, sauare foot - CELOTEX PLANKS AND TILE, (1,000 ft.. £35). square foot Ji-inch FIR PLYWOOD, inches wide, 21 to 96 long. Sauare foot J. FRANK LLY h to 48 Inches " @0 DOORS OF ALL KINDS B« ggicy . $4.30 3-Panel Pine Doors, 2.6x6.8 . $5.50 DOORS, _spart- $7‘50 bronze $3.50 thick. From CALL MR. JACK North 1341 Get personal attention to vour order." Let M. Jack help solve vour repair problem. Call North 1331. c Pine Doors, NTILATOR For homes and ments Screen Doors, wire " 1l4-in. Ponderosa pine. LUMBER—MILLWORK Paints, Hardware, Sand, Gravel, Cement 2121 Ga. Ave. North 1341 _For your convenience— a full 32 ounces~2% times the standard-can contents & 5 i RN the market is irregular on all grades below No. 3. Straw—Market quiet under fairly liberal receipts but prices hold steady at 13.00 per ton for No. 1 wheat and No. 1 oat straw. Lower grades slow sale at irregular values. Sea Food Market. Catfish, pound, 5a6; dressed, 8al0; carp, 3a4; eels, 8a10; haddock, 8al0; mackerel, 5a6; rock, 10a12; white perch, 6a8; yellow, 10; trout, 5a6; bluefish, 10al2; flounders, 10al2; croakers, 4a5; spots, 485; hardheads, 4a5; butter fish, 586; soft crabs, doz- en, 40a1.25; hard crabs, barrel, 3.00a 4.00; dozen, 20a40; crab meat, pound, 25a50; shrimp, 15a18; clams, large, Two Recording Angels, Every man—says an old Turkish parable—has two angels, one on each shoulder. When he does anything good, the angel on his right shoulder writes it down and seals it, because what is once well done is done forever, When he does evil, the angel on his left shoulder marks it down, but does not seal it; he waits till midnight. 1If, before then, the man bows down his head and exclaims, “Gracious Allah! I have sinned—forgive me!” the angel rubs the evil act out; but if not, at midnight he seals it, and the angel upon the right shoulder weeps. per 100, 80a90; Cherrystones, 60a65; Little Necks, 50; frogs, each 25a35. Tobacco Market. Maryland farm leaf, nondescript, 3a 4 per pound; common, 4al0; medium, 10a30; good to fine red, 30a40; sec- onds, common, 3a7; medium, 7al5; good to fine, 15a35. 200 TONS OF LEAD SOLD. NEW YORK, June 30 (#).—St. Jos- eph Lead Co. reports 200 tons of pig lead from Southeast Missouri mines sold yesterday at $5.85 per hundred pounds, St. Louis. Sensational 3-Day Sale! Thursday, Friday and Saturday Only Paint up your home or end. Take advantage of thes the finest quality Paints. “FAIRFAX” HOUSE PRINT 5925 “FAIRFAX BRAND" paint is u some of the largest boats on t tomac. home. cover the front of an average windows, eaves, porch and door. now and save. Satin-Finish Enamel for Bath, Kitchen Walls, Woodwork Regularly $3.25 gallon. 5, $2.79 &3 Gallon. Rerularly $1.30. §1 .49 Quarts, SALE 79‘ Modex Casein Paint §1-25 Pkg. These Sale Prices are effective Regularly 90c. For interior use on wallboards. plaster Ideal for cotlaes. Will not rub off. pks. makes a gailon. only. 609 C St. N.W.:.- Ing It is the ideal paint for your A gallon is usually sufficient to Visit our store or phone ME. 0150 for prompt FREE d your cottage over the holiday week e extraordinary low prices on 1sed on he Po- house. Buy Fairfax Floor Enamel All Colors Rer. $3.35 gallon, s Reg. 2 12 gallon, SALE S Rez. $1.30 auart, SALE ORI-0-LAK 4-Hour Enamel For Furniture and Woodwork SPE Pint. SPECIAL Half Pint, SPECIAL ___ for Thursday, Friday and Saturday very. rih S t & Tth EE PARKIN Ellis' Parking 6th and diana Avenue de 0 C METROPOLITAN 0150