Evening Star Newspaper, June 30, 1937, Page 20

L A—20 3% %k % FINANCIAL. THE EV. ENING STAR, WASHINGTON, D. C., WEDNESDAY, JUNE 30, 1937. FINANCI DEMAND CURBED TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE INFIFTH DISTRICT Prolonged Strikes Else- where Reduce Market for Industrial Goods. BY EDWARD C. STONE. Prolonged strikes elsewhere are affecting workers in the fifth Federal reserve district by reducing the de- mand for industrial products, the Reserve Bank of Richmond reported today, according to an Associated Press dispatch. Labor disturbances in this district, embracing Maryland, West Virginia, District of Columbia, Virginia and North and South Carolina, have been chiefly local in character, the bank said, “but the psychological effects have been unfortunate and the rate of increase in employment has slowed down materially. The outlook is less favorable than it was six weeks ago.” Business in the fifth district in May and the first half of June moved at a slower rate than in the first quarter of this year, but was above the volume of business done a year ago, the bank reported. Fewer Commercial Failures. The district's commercial failure record was better in May than a year &R0, but there were more insolvencies than in April this year. Sales of new passenger automobiles in May showed & smaller increase over May last year than earlier months this year, and fewer cars were sold last month than in May, 1936, in the District of Co- Jumbia and West Virginia. The dis- trict gain over May, 193F, was 3.2 per cent in new registrations. “Construction work in cities and their suburbs held up well in May.” the bank said, “and building permits issued for urban work totaled more than in any other month In seven years, but there is less rural construc- tion under way this year, due chiefly to a decline in publicly financed projects. *Coal mining was 4.5 per cent above May, 1936. Activity at cotton textile mills slowed further in May as produc- tion which exceeded new orders cut down the backlog of unfilled orders. Retail Sales Top May, 1936, “Retail trade as indicated by partment store sales was on! per cent larger in May last year, wholesale trade in May, while in the aggregate larger than a year ago, compared less favorably with trade last year in most recent months.” The review of agricultural condi- tions showed the outlook for produc- tion in the middle of June better than a year ago, t quite as favorable & price situation de- “Except for tobacco, which has been eeriously damaged by blue mold, crop prospects are notably beiter than a vear ago, and if price declines are not too great the farmers will experi- year," the bank reported . Peach production was larger khan5 fast year, except in South Carolina, | and prospects were shown to be for cield about twice as large as Demand Deposits Drop. Demand deposits decreased during the period from May 12 to June 16, but loans remained practically sta- tionary. Debits to individual ac- counts in 24 fifth rict cities de- clined 4.2 per cent from April to May, which was described as a seasonal drop due to quarterly payments in April, but debits last month exceeded | May, 1936, debits by 16.5 per cent. | The Richmind bank’s statistical summary showed that sales in 52 de- partment stores in May totaled $10,- 049,599, against $9,655,212 in May, 1936, a gain of 4.1 per cent. | Sales by 55 wholesale firms in this | district totaled $4.795.263, compared f with $4,410.653 in May last year, an increase of 8.7 per cent. The value of building permits in May, 1937, totaled $10,178,457, com- pared with $6.462,132 in May a year ago, a huge jump of 57.5 per cent. The value of contracts awarded in May was $24,030,000, against $23,- 417,657 in the same 1936 period, a difference of only 2.6 per cent. D. C. Bank Committees Named. Appointment of Hilleary G. Hoskin- #on, vice president of Riggs National Bank, as chairman of the Budget Committee, one of the association’s most important committees, was made today by Thomas J. Groom, president of the association. The other ynem- bers are Ord Preston, president of the Union Trust Co. and second vice president of the association; A. M. McLachlen, secretary-treasurer of the McLachlen Panking Corp. and third vice president of the association, and Albert S. Gatley, executive vice presi- dent of the Lincoln aNtional Bank and treasurer of the association. ‘The appointment of Lanier P. Mc- Lachlen, president, McLachlen Bank- ing Corp, as chairman of the Taxa- tion Committee, the work of which is of great value to the association, was also announced by President Groom. Stanley D. Willis, trust officer, Nation- al Metropolitan Bank, has been named vice chairman. Other members are: Francis G. Addison, jr.; Victor B. Deyber, H. H. McKee, M. D. Rosen- berg, Corcoran Thom, George O. Vass and C. F. Jacobsen. Other important committee pointments are as follows: Law and legislation—Francis G. Addison, jr., chairman; C. F. Burton, vice chairman; Robert V. Fleming, Harry G. Meem, Corcoran Thom, H. Prescott Gatley, Roger J. Whiteford, David Bornet and George E. Hamil- ton, jr. ap- Treasury relations—Sidney F. Tal- daferro, chairman; C. F. Jacobsen, vice chairman; M. F. Calnan, Joshua Ev- ans, jr; E. C. Graham and J. R. McMullan. Many Dividends Due Shortly. Issues on the Washington Stock Exchange which are soon to pay div- idends and are now quoted without the amount of the dividends in case their ownership changes hands include American Telephone, American Se- curity & Trust Co.,, Bank of Bethes- da, Bank of Commerce & Savings, Lincoln National, Firemen's Insur- ance, National Union Fire Insurance, Lincoln Service Corp. common and preferred, Peoples Drug Stores com- mon, Terminal Refrigeratin, & Ware- housing Corp. and Woodward & Lo- throp preferred and common stocks. The directors of the National Bank of Washington at their monthly meet- ing held today declared the usual semi-annual dividend of $3 per share on the capital stock of the bank, pay- able July 2, to shareholders of record June 30. The Washington Stock Exchange opened today with seven 100-share sales and an 80-share sale of Capital ‘Transit stock at 10%. Later it reached 10%, but closed at 10%. The stock # showed much more strength. By Private Wire Direcs te The Star. All New York markets afe mow nu daylight saving time. and N Prev 1937 Stock es— me Low Dividend Rate 4dd 0. High. Low. Close. éhee. 44% Abbott Lab (11.60). 1 45 45 45 + % 15 Adams Exp (b30c).. 16% + % 28 Addressog'ph b60c. 28% + % 2 Advance Rumely . 2% 641 Air Reduction (11)_ 69 2x Air-Way Electric... 2% 11 Alaska Jun (1600)_. 113 2% Alleghany Corp 2% 3015 Alleg Steel (b80c) .. 33 15 Allied Chem (6) ... Allied Mills (b2)___ Allled Stores (b20c) Allis-Chalm (b1) ._. Alpba Port Cmt (1). 4% Amal Leather______ 80 Amerada Corp (2)-. 20% Am Bank Note (11). 59 Am Bk Note pf (8) 57% Am Brake Sh b1 90% Am Can (14) _ 174 1521 Am Can pf (7) _ 71 46 AmCar & Fy (b2 78 Am Car & Fy pf(b4) 28 Am Chain & C b50c- 115 Am Chain& Cpf 5. 98 Am Chicle (t4) __. 20% Am Comel Al ab0c. 25 AmCrysSugb2¥% 5% Am Encaustic __ 619 Am & Foreign Pwr_ 45 Am & For Pw 87 pf_ 184 Am & For Pw 24 pf_ 14% Am Hawafian (1) ._. 57 Am Hide & Leather. 40% Am Home Pr(12.40). 22 Am Lce 1213 Am Interntl (a40c)- 38 Am Locomotive 1014 Am Loco pf (a3) 184 Am Mach & F (t1) 7 Am Mach & Met 60c 7 Am Power & Light_. 40'% Am Pw & Lt pf (5) 49'x Am Pw & Lt pf (6)_ 18% Am Radiator t60c_. 31% Am Roll Mill (2) __. 6% Am Safty Raz (12)_ Am Seating (b25¢)_ Am Sm & Ref (3) _. s Am Sm & Ref pf(7). Am Steel Fdy (b1)_. » Am Stores (b1%) Am Sugar Ref (2) > 102% +1% 21 25% 6 e 67 49 20% 143, 6% 42 3 30 101% 18% 8ly Bl o 0 TIEC 3 53 000 i n 12003 00N b D Ta md kit i 001 B0 1 D 0T RO VN B e By @ e I)"‘u Am Tel & Teleg ( 73% Am Tobacco (5) T4 Am Tobaceo (B) § 11% Am Type Founders_ 15% Am Water Wks 80c_ Am Woolen 6% Am Zinc & Lead _ 47% Anaconda Cop b75c. 18 Anchor Cap (60c)_ 513 AP W Paper - 40 Archer-Dan-M(t2)_ 106% Armour(Del)pf(7) X 7 Armour of I11(b35c) 81% Armour(Ill1)pr pf 6_ 57'2 Armstrong Cork(2) 11 Arnold Const b7sc. 8% Artloom Corp 15% Assoc Dry Goods Atch T & S Fe (h2) 947 Atch T & S F pf (6)- 4414 Atl Coast Line(al). 27! Atl Refining (t1)__. 15 Atlas Corp (80c) 5012 Atlas Corp pf (3) _ 681, Atlas Powder bl 13!5 Auburn Auto 5% Aviation Corp Del 47x Baldwin Loco (d) % Baldwin asd (d) Baldwin pf asd(d) altimore & Ohlo Baltimore & Oh pf. 381y Bangor & Ar (2%) <7 Barer Co (b25¢) - 22 Barker Bros 34 Barker Brospf 2% _ 2315 Barnsdall (1) 137 Bayuk Cigar +75¢c_ 111 Bayuk 1at pf (7) 21'; Beatrice Cream t' 11% Belding Hemin (1) 181 Bendix Aviat'n b50¢ 20% Benef Ind Ln (b95c) 73 Bethlehem Steel (bl 17 Beth5% pf (1) . 24 Black & Decker (1). 22 Blaw-Knox (b45c)_ 27% Boeing Airplane _. 37 Bohn Alum & B(3)_ 2 41% Bon Ami (B) (234). 130» 21tz Borden Co (1.60) 387% Borg-Warner (2)_ 15 Bridgep't Brass(1)_ 39% Briggs Mfg (b134)_ 40 Bristol-Myrs t2.40 18!3 Bklyn-Man T (b2% .x 5% Bklyn-Man T pf(6) x Bklvn & Queens Bklyn & Queen T pf. Brunswick-Balke Bucyrus-Erte Bucyrus-E pf (7). Budd (EG) Mfg_ Budd ( 3 Budd Wheel b20c Bulova Watch (14 Burr Add M (80c) 4'4 Bush Terminal 24% Bush T Bldg pf cod_ 127% Butler Bros (60c) 28% Butler pf (1%) _ 413 Butte Cop & Z(abc). 17% Byers (A M) _ __ 25'4 Byron Jackson (t1). '(5‘/. Calif Packing (1%). if Pkg pf (2%%) - zl. Callahan Zinc-Lead 12 Calumet&Hec b76c-. 2313 Canada Dry G Ale. 124 Canadian Pacific 133% Cap Adm A (b50c)__ 9 6% Carriers & G (b10c). 17615 138 Case(J 1)Co (4). .. 100 85 Caterpillar Tr (+2). 41% 26% Celanese Corp b1%. 115 106% Celanese pr pf A(7). 8214 73% Celotex Corp pf(5).. 12% 64 Central Foundry _ 107% 96 Cent I11 Lt pf(434)._. 413 18 Central RRot NJ. 863 60 Cerro de Pasco (4) 23% 1113 Certain-teed Prd 82 485 Certain-teed pf 63% 353 Champion P&F bl 111 108 Champion P pf (6) 48 144 Checker Cab Mfg 687 50y Ches & Ohio t2.80__. 100 91 Ches&OhpfA (4)- 13% 6% Chi & Est [11 pf (d)- 4 2 ChiGrt West (d)__. 18% 8% Chi Grt West pt (d) 'i‘/. 1% Chi Mil St P&P (d) . 3% Chi M St P&P pt(d). 3 Chi&NW (@) 9% Chi & N W pt (d) . 21 Chi Pneumatic Tool 35 ChiPneuTpf (3)_. 2 ChiR1& Pac(4) 37 Chi RI&P 6% pf(d). 414 Chi RI&P 1% pf(d) 15% Chickasha Cott'n Oil 9% Childs Co 95% Chrysler Corp b!%. 17% City Ice & Fuel (2)- % 6% City Stores __ 113 102% Clev El [llu pf 4% 44% 25 Clev Graph (b1) 281 23% Cluett Peab’y b25c_. & Cluett P rts Julyls. 17% Colgate-P-P(t50c) 47% Collins & Afkn (t2) 31 Col Fuel & Iron(bl) 15 Colo & Southern 10 Columb G & El(40¢c) 80 ColG&EDLA (6).. 28% Columb Pio vte (t1) 56% Comcl Credit (14) .. 13 Comcl Solv (160¢).. 2 Comw & Southern._. 46 Comw & Sou pf(3).. 13% Conde Nast Pub 34 Congoleum-Nrn(2)- 12Y% Congress Cigar(a2). 97% Consol Cigar 80 Consol Cigar pt (- 31% Cons Edis N Y (13)._ 99% Cons Ed N Y of(b) 10 Consol Film pf(a2). 9% Cons Laundries 143 Consol Oil (+80c) .. 4% Cons R R Cuba pf... % Cons Textile (d) ... 814 Cons Coal(Del)vte 33 Cons Coal Del vto pt 20% Container Corp 1.20 18% Contl Baking (A) ... 2'% Contl Baking (B)... 50 ContlCan(3) ___ 18! Contl Diamond (2)._ 35% Contl (nsur (11 60). 2 Contl Motors o 39% Cont] Ofl Del (t1)_. 54% Corn Prod Ref(13). 6 Coty Ine - - 40 Crane Co 121 113% Crane Copf (7) ... 105% 100% Crane Co cv pf (5) .. Cream of Wheat(2). 68 Crown Cork & 8(2). 41% Crn C&S pf ww 2% _ 163 Crnwn Zellerd ... 1% Cubs - ™ Cub-n Am Sugar... 127 110 Cub-AmSpfb71.. 20% 8% Curtis Publishing.-. 109% 71 Curtis Pub pf (7). [ [ = > POUDTDIYS: IETOIINS e PRCP S {51 e e [T e Bexn Nemma25.8 = amTe % 25% 62% 517 - 5 8% 100 st 13 s 10 9% 10 + % HE % 7T +1% Prev. 1037 Hig B 23% 24 109 13714 31% 584 241 36'4 1804 185% 115% 17 175% 3 2102 Stock and Low. Dividend Rate, 5 Curtiss-Wright_... 16% Curtiss-W (A)ab0c. 19 Davegacumpf1%. 99% Dayton P&L Df 4% 104% Deere &Co ... 25% Deere & Co pf 1.40 .. 33 Delaware & Hudson 13% Del Lack & West __ 26 Diamond Match (11 34 Diamond Mpf(t1%} 14% Diamond T Mot (1). 20% Distil Corp Seag 80 Distil C Sea pf ww b 18 Dixie Vortex(134) . 3814 Dome Mines (12)___ 47!% Douglas Afrcraft 129 Dow Chemical (13). 451 Dresser (A) (a3) 24 Dresser B (a1) _ 37 Dunhill Internatl_. 14% Duplan Silk (1) _. 112 Duplan Silk pf (8)_. 148% Du Pont de N(b2%) 130% DuPont deN deb(6). 110% Duguesne 1at (5) ... 9% Eastern Roll Mills_. 151 Eastman Kodak (8) 29Y Eaton Mfg (2) ____ 10% Eitington-Schild 34% Elec Auto-L b1.40 9% Elec Boa' (aé0c) 415 Elec&Mus 1 (a18¢) - 1414 Elec Pow & Light . 5813 Elec Pw & Lt $6 pf_. 62 Elec Pw & Lt $7 pf_ 3214 Elec Storage Bat (3] 1 Elk Horn Coal (d) 21% EI Paso Nat G 1.60. 4% Equitable Office B 1313 Erfe R R 1915 Erie R R 18t pt 14'4 Erfe R R 2d pf Sureka Vacuum Evans Prod (+1) Exchange Buffet 20% E uirbanks Co pf . 49'4 Fairb'ks-Morse (t1) 45'3 Fajardo Sugar (b%). 16% Federal Lt & Trac. 5% Fed Screw Work.s_ 3 Fed Water Sve.A. 32 Fed'd Dept Str(2) 36 Fidel Phoenix 1.60. 31 Firestone T&F: (2)_ Firestone pf 4 (6) .. 3914 First Natl Strs 1214 2614 Flintkote Co (1) 4‘u Follansbee Bros(d). 87'5 Foster-Wheeler _ 7% Francisco Sugar 24% Freeport Sulph (1) 11% Gair (Eobert) _ 22 Gamevsell Co 95 Gannettcv pf (6). 11 Gar “Wood Ind b25e 10'; Gen Am lnvmhci 6312 Gen Am Trans b114. « Gen Bronze .. 20 Gen Cable 39'4 Gen Cable (A) 345, Gen Cigar (T4) 49% Gen Electric (b80c). 36 Gen Foods (2) _ 1'3 Gen Gas & Elec(A). 117 Gen Mills pf (6) 4734 Gen Motors (b13{)_ 23, 11.3% Gen Motors pf(5) _ 189 1127 162 167 15% 18%, T3 107‘7 8T 155 126 29 27% 1915 693 20% 71 29% 15'< Gen Print Ink b30c.. 3'% Gen Pub Service 41% Gen Ry Signal (1) 3 Gen Realtv & Util 31 Gen Realty & U pt 55 Gen Refract (b2)___ 48 Gen Steel Cast pf 204 Gen Thea Ep(b30c) . 141, Gillette S Raz (1) 20'x Gimbel Bros = 80 Ginibel Bros pf(6)_. 4 Gobel (Adolf) 5% Goebel Brew (t20¢c). 31 Goodrich(BF) b50c. 777x Goodrich pf (5) 274 Goodyear T & R bl._ 100 Goody'r T&R pf(5). 7% Gotham Silk H 3 Graham Paige Mot 614 Granby Cons 2'4 Grand Union ctfs _. 3413 Grant (WT) (11.40) 40% Grt Northernpf _ . 17% Grt Northn Ore (1) 34 Grt West Sug 12.40_ 271 Green H L (11.60) _. 23, Greyhound (+80c) _. 10% Greyhound pf(55¢) 1312 Hall W F Print ___. 40 Harb-Walker (t2) . 10'; Hat Corp of Am 80c. 4 Haves Body 114 Heckers Prod(i60c) 125 Hercules Pdr pf(6). 3515 Holland Furn (b1) . 21~ Hollander & Son(1) 293, Holly Sugar (b21,) 471 Homestake b c 18 Houd-Her B (t134). 57% Household Fin (4).. 1213 Houston Ofl vte _ 62% Howe Sound (3)_ 7 Hudson & Man pf__. 13'¢ Hudson Motor Hupp Motor 11linots Central 111 Cent 1s In (4) - indus Rayon (2) . Ingersoll-R'd (b1%4) Inland Steel (14) .. 17% Inspiration Cop.. 57 Inter Rap Tr vte(d) 4% Intercontl Rubber. 16! Interlake Iron 5 5 Intl Agricultural .. 1465 Intl Bus Mach(t6)_. 99 Intl Harvester(2%) 1447 Intl Harv pf (1) ... 8% Intl Hydro E1 A . 6'3 Intl Mercantile M_ . 10 Intl Mining (b30c). 55% Intl Nickel (bl1) ... 16%4 Intl Paper (A) cceee 10% Intl Paper (B) 5% Intl Paper (C) 90% Intl Paper pf__ 43%a IntlRyCAmpf A_. 9% Intl Tel & Tel . _ 20% Interstat Dp St b2% 100 Inter Dept St pf(7). 70% Jewel Tea (14) ... 120 Johns-Manv (13)_ 120 Johns-Mansv nf('l), 15 ians City South 20% Kayser J & Co (2) 9% Kelsey-H B (al%) _ 51 Kennecott Cop b1% . 14% Keystone S&W b30c 47% Kinney pf (a1) 20% Kresge (S 8) b60c__ 18 Kroger Groo (11.60) 18% Lambert Co (2) 17 Lee Rubber (b1) 3214 Leh Port Cmt 1% _ 1% Lehigh Valley Coal. 13% Lehigh Valley RR 36 Lehman Corp’'n(t1) 59% Libbey-Ow-F b76c_. 9% Libby McN & L(al). 94Y% Ligg & Mvers B t4_. 18% Lily Tulip (t134)_. 511 Link Belt (12) 43% Liquid Carb (2.60) .. 644 Loew’'s Ino (12) 105% Loew's Inc pf(63%)- 1 Loft Inc 50% Lone Star Cem (3) . 28% Lioose-Wiles (2) 20 Lorillard P (¥1.20)_ 19% Louis G&E A b37%e¢ 29% Ludlum Steel (t1)_. 25 McCall Corp (12)._. 14% McCrory sStores 16% McGraw H P bd42%c 32% Mcintyre Porcut2) - 31% McKeesp't Tin P(2) 12% McKesson & Rob ... 40% Mack Trucks (t1)_. 44 Macy (R H) (12) __ 10% Mad Sq Gard bl.1 3% Manati Sugar (d) ... 18% Manhat Shirt (1).-.. 3% Maracaibo Ofl Exp.. 9% Marine Mid (t40c)_. 10% Market St Ry pf._ . 2% Market St Ry 2d pf. 20 Market St Ry pr pf. 187% Marshall Field 19% Martin (Glenn) ... 7 Martin-Patry co 327 Mathieson Alk (134) 51% May Dept St (13) _. 25 Mead Corp (b50¢)-- 9% Mengel Co 34 Mengel 1st nf (23%). 58 Mesta Mach (b2%). 14% Miami Copper 25% Mid-Cont Pet (b50c) % 33% Midld Stl Prod(t2)_ 122 108 Midld Stl 1st pf(8)._ 11 Minn Moline Pow _ 88% Minn Moline Pw pf. 2% MSt P&ASSMIsin. 237% Mission Corp (b1).. 51 Mo Kans & Texas _. 21 Mo Kans & Tex pf A 28 Mohawk Carp t1.20. 85 Monsanto Ch (bl).. 48 Montg Ward (2)__ 37% Morrell J (2.40) % Mother Lode a12: %l. 28 Motor Prod (b1%).. S @ o - S MR T AR A BN N BAN N 10 0 5100 51 O3 0 ek =3 03 1O O3 1D o 1O 00 et ik ek 01 ) So e » aBrwTenanne =3 w0 - 17% 19% 5% 167 19% 994 1014 39% l'l% + % + % +1% + 1! +1 + % Wt K 4+ % A A 44 + 0+ FlHL A4+ Net | Prev. 1027 Add 00 l!!th. Low. Clflll chse. | High. Low. 26 36% 20% T % 74 24 18% 112% Stock and Dividend Rate. ‘17% Motor Wheel(1.60). 24 Munsingwear (3)... 10% Murray Corp(a0e). 58% Myers(F E) (b2)... 16'4 Nash Kelv (1) _ 30 Nashv Cl St L. 17% Natl Acme (b25e)_. 11% Natl Aviation (al1). 22% Natl Biscuit (1.60) 257 Natl Bond & In 1.44. 29% Natl Cash Reg (1) ... 18 Natl Dairy Prd 1.20 107% Natl Dalry pf A (7) 107 X\nll Dairy pt B (7). 15 tl Dept Stores 64 Natl Dept Strs pf_ 274 Natl Distillers(t2)_ 12 Natl Gypsum 30% Natl Lead (160c) 8% Natl Pw & Lt (60¢). % Natl Ry Mex 2d pf_. 70 Natl Steel (t215) _. 31% Natl Supply (new)._ 40 Neiser Bros (2) 28 Newp't Indus blg 3% N Y Air Brake (al). 34% N Y Central _ 41 NYChi&StL 80 N Y Chi&StL pf A 21% N Y City Omnibus. 7 N Y Dock (new) 124 N Y Dock pf (new)_ * N Y Investors (d) 35 NYNH& H @) Nev Prev, 1937 Add 00. High. !;79' Close. ehge. | High. Low. 6 197 19% + 26% +2% 10% + % 62 94 31 23% 28% 95% 16% 12% 17 30 18+ % 115% + 1a 2’*1‘/5 +1‘/A Stock and Dividend Rate. 5% Sparks- Withing._. 17% Spear & Co (a50¢c) - 16 Sperry Corp vtc(al) 19% Splegel, Inc (1) ____ 81 Splegel cum pf(4%) 11% Stand Brands(t80c) 6% Stand Com Tobac_.. 5% Stand Gas & El (4). 13 Stand G&E $4 pf(d) 33 Stand G&E $6 pf(d) 361, Stand G&E $7 pf(d) 39% Stand Ofl Calif(t1)._ 40'; Stand Ofl Ind ¢41)__ 631 Stand O1l N J (+1) __ 631, Steriing Prod 13.80_ 17 Stewart-Warn ti0e. 14 Stokely Bros (t1) .. 17 Stone & Web(a25c). 12 Studebaker Corp __. 371 Superheater (134)_. 4'4 Superior O} 31% Sutherland P t1. 60-- 13 Sweets Co of Am 21% Swift & Co (11.20) 297 Swift Internatl (2). 15% Syming ww (b35¢c) . 117 Syming xw (b35c) _. 10% Tenn Corp (b25c) - 50% Texas Corp (2) 6 Texas Gulf Prabe__ 33% Texas Gulf Sul (12) 11% Tex Pac C&O bl0c .. 10 Texas P L T (alfc). 33Y% Thatcher Mfg (t1)_. Add 00, High. Low. 6% 19 167 21% Close. tlut 5% 19 16% 56 N Y Shipbldg pf - 63'5 N Y Steam 6% pf__ 9% North Am Aviation 21 North Am Co (b60c) 257 Northern Pacific _ 3% Norwalk Tire & R__ 17% Ohio O} (b50c) 531 Oliver Farm Equip_ 27 Olv F Eq rts Ju 12- 13 Omnibus Corp vtc .- 33% Otis Elevator b40c_. 1413 Otis Steel 22 Outboard Mot bl5c_ 8215 Owens-111 Glass (3) 17% Pacific Am Fish 1.20x 5 231 Pacific Coast 1st pf. 10» 13 Pacific Coast2d . 108 2814 Pac Gas & Eléc(2). 6 4014 Pac Lighting (3) 25 Pacific Mills (b1)_ 7% Packard Mot (b15c) 2 PanhandleP& R ._ 60 Panhandle P&R pf_ 6174 Paraffine Cos (b2) 169 Paramount Ple 1 x'n Paramnt 24 of 60c Park Utah Parke Davis(b1.40). Parker Rust (t1%). Parmelee Trans _ Pathe Film Corp Patino Mines(+60c). Peerless Corp _. Penney J C) (4) Penn Dixfe Cement.. Penna R R (bioc) Peoples Drug (11)_. Peoples Gas Chi Petrol Corp(A) b40o Pfeiffer Brew boc Phelps Dodge bs0c_. Phila Co 6% of (3)_ Phila Co pf(6)new . Phila & Read C& I_ Philip Morris(b3%) Phillips Petrol (+2)_ Phoenix pf (332) - Pierce Ofl pt Pilisbury Flour 1.60 Pittsburgh Coal . Pittsburgh Coal pf_ Pitts Serew (bi5c)_ Pitts Steel pt. Pitts United Plymouth Oil b70s Porto R Am Tob B_. Postal Tel&C pf(d). Proctor & Gam (12) - Proc & Gamb pf(5, Pub Sve N J (2.60)_ Pullman Ino (1%)_. Pure Ofl Pure Oil 6% pt(6) Purity Bak (60c) - Radio Corp Radio 1st pf (3%) . Radio-Keith-Or (d) R R Sec I11 Cent Reading RR (2) Reis (Robt) Reliable Stores (1)— Rem-Rand (b55¢) Rensselaer & S(8) 6o Motor Car._. Republic Steel Repub Steel pf (b3) - Republic pr pf A(8) Revere Copper Revuolds Met (1)_. Reynolds Spr (t1)_. Reynolds Tob (3) Reynolds Tob B (3) afeway Stores(12) 30 1 * St L-San Fr pf (d).. Savage Arms b25c_. Schenley Dist b1 . Schulte R Strs (d) - Scott Paper (b65c) - Seaboard Alr L (d)_ Seaboard A L pf(d). Seaboard Ofl (1) __. Sears Roebuck (3).. Servel Inc (11) __ Sharon Steel (11.20) Sharon Stl pf (5) .- Sharpe & Dohme Shattuek F G (60¢). Shell Un Ol1(b50¢) - Silver King (b6sc) . Simmons Co (b1)_ - Simms Petrol ___. 8514 Sloss-Sheffield Stl_. 27 Smith (A O) 2715 Smith&Cor cfs $2__. 19'; Snider Pkg (b1%4) - 16% Socony-Vao (b2b¢) - 110 Solvay Am pf (5%). 314 South Am G & P 30¢c 3215 South Port Sug(12). 40% Southern Pacifio 24 Southern Ry.. 37Y% Southern Ry pf-. 14 17% 348, 177 68 4y 197 5414 40'3 29% 20% 115 6% 421 654 43% 601 25% 124 40 33 28 55 13 .cc:cr~—-<:c- Bl ’s 'S J 8 S s s 413 130% 143 1017 74% 40% 30 9 1% iy : 4 1:00 P.M. + <% +1% +2 + larations 433 26 391y not in 3 ACompanics xEx dividend. 40% 913 The Fair__ 7% Thermotd Co 3 Third Avenue _____ Thomp Prod bj0c _. 315 Thompson Starrett 15% Tide Wat As Oll 80¢ 17% Timken-Detrojt(t1) Timk'n Roll Brg(3) 1214 Transamerica t40c Trans Wst Air a2ic 744 Tri-Cont'l (b25c) .. Truax Traer b80c__ Truscon Steel ___ 20th Cent Fox (b1)_ 20th Cent F pf(1 Vg). Twin City R T Twin Coach (b30c)- Ulen & Co Und-Ell-Fish b1% Union Bag & P (2) _. Union Carb (3.20) Union Oil(Calif)1.20 Union Pacific (6) _ Union Tnk Car 1.60 Unit Aircraft bi0c. x Utd Afr Lines a20c Utd Biscuit pf (7). Utd Carbon (4) Unit-Carr Fast(12). Utd Corp (az0c) Utd Corp pf (3) United Drug (b25e). Unit Dyewood t1) Utd Elec Coal United Fruit (3)._ Utd Gas Imp (1) U S Distributing pf. U S & For'n Secur. U S Freight (1) U S Gypsum (+2) __ U S Gypsum pf (7). J S Hoftman Indus Alcohol Lea vtc new Lea (A) vien Pipe & Fdry(3). Realty & Imp._ Rubber Rubber 1st pf _ U S Smelting (b6) U S Steel U S Steel pf (7) __ Unit Stk Yds (50¢) Utd Stores (A) Univ Cyelops Stl(1) Univ Leaf Tob (13) Utl) PwékLt (A)(d). Vadsco Sales Corp Vadsco Sales Cpf__ Vanadium Corp Vick Chemical (12)_ -Car Chemical -Car C6% pfblly \anxlh (a) Total Sales for the day. Dividend rates as given In the above table are the annual cash payments based on the iatest quarterly or haif-yearly dec- lhm of trading iess than 100 shares. exiras. a Paid reported AL. STOGKS NOVE P FRACTIONS 70 Steels and Rails Prominent. Market Cheered by U. S. Steel Action. Stock Averages ndus. Rals. UL Sre Net change. .‘:'1’ To" Te £ Today, close 895 374 400 639 Prev. day._. 882 364 391 628 Month ago. 916 426 418 6638 Year ago___ 859 353 488 630 1937 495 540 753 1937 361 39.1 626 1936 435 537 728 1936 302 434 557 1932 175 87 239 169 1929 146.9 153.9 184.3157.7 1927 516 953 61.8 618 (Complled by the Associated Press ) BY VICTOR EUBANK, Associatea Press Financial Writer, NEW YORK, June 30.—Steels and | rails played a leading role in today's stock market rally of fractions to around 3 or more points Generally favorable industrial news and reduction of preferred dividend arrears by United States Steel Corp. helped to sweeten the market dish, brokers said At the same time, chart analysts were heartened by the progress of rails. | Recent droopy behavior of this gr has put a drag on the market's prog- Tess, it was said. Scattered issues met offe midday and in the final hour Although strikes deterred traders from entering the market more ag- Walker (H) (2).._. 4 Walworth Co.. Warner Bros Pict.. Warren Bros (d) - Warren Fy & P 12 Wayne Pump (2) . Webster Eisenlchr_. Wesson O&S (150c) West Penn EI pf(6) 4 West Penn El pf(7) West Pa Pwr pf (6) W'n Auto Sup 1.60 - Western Maryland . Western Pacific pf-. 6 - Westn Un Tel (3) _ 4 Westingh’se A B(1) Westhse Elec (b2) West'se El 1st pf b2 Weston El Inat b2ic 2 Weston Elee(A) (2) Westvaco Chlor (1) Wheeling Stesl White Motor White Sew Mch p: Wilcox Oi} & Gas __. Wilson & Co (50c) - Woolworth (2.40) Worthington Pump. Worth Pump pf(A) Worth Pump pf(B). Wrigley W ir (13) . Tale&Towne(160c). Yellow Tr & Coach.. Yell Truck pf b3 . 4 Young Spr& W(13)._ Yngstn S&T (blz). Zenith Radio (b1) 47» Zonite Products 5 ERY Approximate Hourly and Total Sales on N. Y. Exchange. 11:00 AM. - 1121 244 Th + ta ™ 24 +1% 445 41tz % -1% 20% + % 1815 — +1 9215 T6% —14 66 -1 51 — 1 23% + % 123 36% 8210 1% 3213 + % 5t 32'% 170,000 450 000 12 310.000 510,000 690,000 tAnnual rate— last vear. bPaid this year a n receivership or being reorganized CHICAGO GRAIN E: the Associated Press. CHICAGO, June 30.—Late setbacks of Chicago wheat priceg today con- verte” early advances of about 1% ¢ .5 nto losses of around 3 cents. The late fall of wheat values here was ascribed largely to a sharp reac- tion at Winnipeg, Where the market tumbled after season new high price records had been achieved. Indications of showery weather in -Canadian drought districts accelerated selling. At the close, wheat was 17%-2% un- der yesterday's finish, July, 1.187%- 1.19; September, 1.197-1.20%; corn, 1 cent to 2% downy July, 1.24%-1.25%s; September, 1.10%3-%, and oats, 1%- FES R jsitietey »2 0203 83 3333 v ao Chhl‘o Cash Marlet. Cash wheat, No. 2 red, new, 1.28%, Indiana; No. 2 red, new, garlicky, 1.221%; No. 1 hard, old, 1.37%; No. 2 mixed, old, 1.34; corn, No. 2 mixed, 1.28%-29%,; No. 1 yellow, 1.28%; No. 2 yellow, 1.28-29; oats, No. 1 white, 53; No. 2 white, 52)2; no rye; soy beans, No. 2 yellow, 1.38; barley, No. 2, Tlinois, 71; feed, 53-67 nominal; malting, 71-97 nominal; timothy and clover seed unquoted. Baltimore Quotations. BALTIMORE. June 30 (P.—Wheat. ¥o. iznd‘ ‘Winter. garlicky. spot, domestic. EXPANSION PLANNED BY CONTINENTAL CAN By the Associated Press. NEW YORK, June 30.—Continental Can Co. announced extension of its | business to the manufacture and sale of crown caps or seals for bottles and cap-sealed cans. 0. C. Huffman, president, said it was planned to make use of present plant facilities, establishing, cap-man- ufacturing units at various points throughout the country as the busi- ness develops. Present plans provide that the first units will be established at the com- pany’s plants at Baltimore and Chi- cago, with subsequent units to be located at Jersey City, Seattle, Oak- land and Houston. HOLLY SUGAR HOLDERS FILE DIVIDEND SUIT B the Associated Press. NEW YORK, June 30.—A suit to prevent payment of a 25-cent divi- dend to owners of 500,000 shares of Holly Sugar Corp. common stock was filed in Supreme Court yesterday by two preferred stockholders. The plaintiffs, Oliver C. and Mary Wagstaff, contend that as long as preferred stock is outstanding, the sugar firm should not be permitted to pay a dividend of more than $2 in any one year. A hearing on an application for a temporary injunction will be held Friday by Justice Louis A. Valente. SMALLER LOSS SHOWN BY NATIONAL RADIATOR Ej the Lssociated Press. NEW YORK, June 30.—National Radiator Corp., of Maryland, reported for quarter ended 'March 31, net loss of $100,093, against net loss of $117,- 463 in same quarter last year. Com- pany has properties in Illinois, New York, Massachusetis, Pennsylvania and New Jersey. NEW YORK COTTON By (he Associated Press. NEW YORK, June 30.—Except for July liquidation, cotton held about steady today with fluctuations con- fined to a 10-point range. Favorable weather crop advices attracted only light selling and contracts were scarce with the market responding to small orders either way. October sold off from 12.25 to 12.15, and in midafternoon prices were net unchanged to 7 points lower. [Futures closed barely steads. High. Low 12714 to 12 Close Cottonseed Oil. chable cottonseed oil futures closed S0 _contract 9.11; Octobe 90& December‘ §.04; January, .06-07. New Orleans Prices. NEW ORLEANS. La. June 30 (#).—Cot- ton opened steady today at net decline of 1 to 8 points on slightly lower Liverpool cables and a little liquidation in advance of the weekly weather and crop summary. 2.03. October at at 'Wear. posiiions rallied aboit 6 polnts after the start on covering and towazd the end of the first half hour were ruling 2 points_lower to 4 points higher. compared with_the previous close. Additional Totices for 800 bales of July otton were tendered at the start. and m‘nb‘blv aided the early evenness g oquonseed ol " opened .63b: September. A .. 8.66b: December, 8.62b; January, 8.63b. b—Bid. —_— ALLOWED TO INTERVENE IN NEW HAVEN PLANS By the Assoctated Press. The Interstate Commerce Commis- sion authorized the Railroad Credit Corp. yesterday to intervene in reor- ganization proceedings of the New York, New Haven & Hartford Rail- road. The corporation, formed by rail roads themselves as a “self-help” credit agency, sald it was owed $2,765,118 by the road. A 457 +1% | 33y — 1% | 204-05 | 11 gressively, Wall Street psychology showed further signs of having hard- ened itself to disturbing news, it was said Transactions totaled about shares. Well liked most of the session were United States Stecl. Bethlehem, Re- public, General Motors, Chrysler, Secars Roebuck, Deere, International Harvester. Case. Douglas, Western | Union, Consolidated Edison, Ar | conda, Kennecott, American Smelt | ing, Phelps Dodge, General Ele Texas Corp., New Yorl outhern Pacific, Southern Loews, Canada Dry, Philip | Morris and Air Reduction. Shares which ran far ahead of the pack at times were American Tele- phone, Santa Fe, American Can and Westinghouse. Backward issues were International Nickel Allied Chemical, General American Transport, North American and Standard Gas. 700,000 ‘GAIN IS REPORTED IN OIL PRODUCTION Petroleum Institute Estimates Daily Average Up 18,650 Barrels During Week. | By the Associated Press. NEW YORK, June 30.—Crude oil production turned up in the week ended June 26, the daily flow in- creasing 18,650 barrels to within & raction of the record peak established a month ago. Output totaled 3,529,600 barrels daily, the weekly summary of the American Petroleum Institute indi- cated, the entire upturn occuring | east of California. Gasoline stocks continued drained off by heavy mand to be motorist de- Finished and unfinished in- " | ventories at refineries, terminals and |in transit totaled | 1.1 week. Refineries were operated at a slower rate, the institute's report indicated. ‘Opemnons were in the neighborhood of 82 per cent of capacity compared with 84 per cent a week ago. Data indicated 3,235,000 barrels were run to stills this week against 3,320,000 barrels daily the week before. Cracked gasoline production dipped slightly, from 730,000 barrels daily to 700,000 barrels. Imports, on the other hand, picked up approximately 80 per cent, from 1,058,000 to 1,565,~ 000 barrels. e BEER PRICE BOOSTED BY MICHIGAN BREWERS By the Associated Press. DETROIT, June 30.—Major brewers throughout Michigan announced a $1 a barrel increase in the price of beer. The beverage now retails at $14 a barrel. Spokesmen for the brewers attrib- | uted the increase to higher labor costs and advancing prices of raw materials. | They said the price of bottled beer would not be raised at this time. INSURANCE STOCKS NEW YORK. June 30 (® —New York Sceurity Dealers'” Association 75427000 barrels, 000 barrels less than the previous Aetna Cas Aeina Iny (160) Aetna Life (:S0a) _ - Am Eauit (1.60a) Am Reins (40%) Am Reserve (1a) Am Surety (2'2) Automobile (1a) C Conn Gen Life .80) ontin Cas (1.20) Fid & Dep (4) Firemaos Nwk (30) Prank Fire (1a) Gen Reinsur () Glen Falls (1.60) Giobe & Rep (.80) __ Globe & Rut = Great Amer (1a)_ Hanover (1.60) Hartford Fire (2) Home Fire Sec = Home Ins (1a) Homestead (1) Knickerbocker (.80) Lincoln Fire Maryland ca;: Bhoenix (%) Prov Wash ( Revere B) In (1.30) Rossia Tns (608) t Paul Fire (6) Springfleld (4'>a) " Sun Life (71ag) Travele s (16) re (2) Westchester (1.20a) = a—Also extra or extri k—Declared or paid o far this year. . Tantalum, a rare metal worth $2,500 a ton, has been discovered near Darwin, Australia. New England Fund Prospectus on Request A. S. GouLpeN & Co., Inc. Wooedward Bldg. NA. 2000