Evening Star Newspaper, July 1, 1937, Page 14

3% 3% %k HUGE GAIN SEEN IND. . CLEARINGS $124,009,738 June Total Is Best for That Month in Seven Years. BY EDWARD C. STONE. iness in the National Capital in the first half of 1837 was substantially better than in the first half of 1936, according to that ever-reliable barom- eter of economic conditions—bank €learings. George H. Bright, manager of the Washington Clearing House Associa- tion, reported today that bank clear- ings 1n June totaled $124.009,738.44 as compared with $104,841,034.71 in June, 1936, or an increase of $19,168,703. 73 | and the best June total since 1929 when canceled checks amounted to $124,028,347. The June report brought total clear- ings in Washington in the first six months of this year up to $651,249,- 93510 in comparison Wwith $550,896,- 111.60 in the first half of 1936, or a gain of $100,353.823.50. Such a sen- sational advance reveals bevond ques- tion that Washington has enjoyed ex- ceptional prosperity so far in 1937. Business carried on by checks in the first half of 1937 was more than double the total in lu(‘ like period in 1933, which was in the | depression. Ba in the| first half of that vear | amounted to $302 1934 | they advanced to §: .500.98 and | in the first six months of 1935 to| $145,936.939 42. FINANCIAL By Private W All New York markets a Prev 1937 Stock and High. Low. Dividend Rate 22% 15 Adams Exp (b30c)- 28% ' Adams Millis (bl).. 36 28 Addressog'ph b60c. 80% 6415 Afr Reduction (T1)_ 21 Afr-Way Electric__. 11 Alaska Jun (160c).. 23 Alleghany Corp_._.. 3413 Alleg pf ww $30 215 Allied Chem (6) ... 20 Allled Mills (b2 15 Allled Stores (b20c) 57 Allis-Chalm (b1) 4!, Ama) Leather 80 Amerada Corp 83 Am Ag Ch Del b21;- 20y Am Bank Note ('1)4 90t Am Can (t4) . __ 46 Am Car & Fy (b25¢) 28 Am Chain & C bs0c.. 98 Am Chicle (t4) .. % Am Colortype 2013 Am Comel Al a50c__ 5 AmCrys Sugb2¥ .. 813 Am Crys S 1st pf 6_. 5% Am Encaustic - 2 Am & Foreign Pwr. 57s Am Hide & Leather. 22 Am Ice e Am Internt] IIQOC). Am Locomotive 10114 Am Loco pf (a3) . 18% Am Mach & F (11) . 73 Am Mach & Met 600 43¢ Am Metals (b25c) 60s Am 40'c Am Pw & Lt pf (5). 49'x Am Pw & Lt pf (6)_ 18% Am Radiator t60c 153 Am Radiator pf (7). 31% Am Roll Mill (2) __ 41 Am Shiphldg s Am Sm & Ref (3) 1381 Am Sm & Ref pf(7) « Am Snuff (13) 2 Am Snuff pf (6) ___ < Am Steel Fdy (b1) 57x Am Stores (b114)__ T Am Sugar Ref (2) _ 1'v Am Sum Tob (11) _ Ve Am Tel & Teleg (9) Am Tobaceo (7) Tobacco (B) § The June figures interesting June clear! 1931 dropped to $115.114.303, went lower to $85449,660 June, 1933 &t $56,487.657.33 June, 1934, they agg: $95.66 and in June, back to $85.8 Bank clea: k first half of this year comp as follows with the like months in 1936 1 1936 $100,562, $86,990,549.00 921 lone also gives an | upward in | ed $66.669. | 5, had climbed | al in the January February i 86.355.879.00 100,389,014.00 10484 Progress. Other Indices e such Other b electric usage, post sales reflect Capital in ti of the TS ¢ cover e no month just | 1y hack up the bank ended. The; The Chesapeake & Potomac Tele- phone Co. r ted that the number of telephones installed in each of the first five months of this year was sub- stantially ahead of the like periods year ago. In May alone 220,047 tele- phones were in use compared with | 206.445 at gain of 638 p year. Telephone average daily calls also scored a splendid increase in the | first five months of 193 | Department stores in the Capital m the first five months were 3.4 per cent | above the same period in 1936. Sales| in the first half of 1936 were so far | ahead of the same period in 1935 that | they set a hard pace to be followed | this year. Recently sales have shown | a moderate let-down in c with the same period las partly | because of soldiers’ bonus spending or obligating of funds at this time a :\car; ago. | With the single exception of one| onth, receipts at the City Post Office | have been far ahead of the corre- sponding months last year. The de- | mand for electric power has aone up steadily all this year, the Potomac ! Electric Power Co. rep: And the | ‘Washington Gas Li; 0. reports an increasing sendout of gas, these and | other similar statements pmvmg} steady business expansion here. When all the figures for the half year are recorded it will be found that the huge Government pay roll has | 8gain kept business at a boom stage in the Capital, with prospects that much the same conditions will prevail here during the last half year. This| would seem to be a very safe predic- tion, regardless of what strikes may do to economic conditions elsewhere. Washington stands in a most favored Pposition. May C. & P. Phone Net Lower. There was a slight falling off in Chesapeake & Potomac Telephone net earnings in May, $172,472 compared Wwith $186,204 in May, 1936, according to the statement filed late yvesterday with the Public Utilities Commission, The difference is accounted for by in- creased expenses, Operating revenues in May *his year totaled $949,558 against $900,769 a $ear ago. Operating expenses called for $674,436 compared with $627,487 in May, 1936, leaving net operating income, after $84929 in taxes, of £190,183 against $199,588. Interest deductions required $19,771 against $14.516 a year ago. The report filed with the commission covering the first five months of 1937 S10Ws operating revenues of $4.661,791 against $4.440.338. Operating expenses were much larger, standing at $3.289,- 451 as compared with $3.092,887. Taxes called for $419,357 in compari- son with the lower figure last year of $362,945, leaving a net operating in- come of $952,983 this year against #984,506. Non-operating income was better than last year. Interest deductions required $95,788 against $71,998, leaving a net income before dividends of $865,380 in the first five months of 1937 as compared with $915,956 in the like period a year ago, a decrease of $50,676. There was a net gain of 5,845 tele- phones in service this vear compared with a gain of 4,630 a year ago. Tele- phone calls in the five months totaled 125,477,000 against 116,376,000 in the like 1936 period. Heard in Financial District. Following yesterday's exceptional activity in Capital Transit stock, to- day's Washington Exchange session took a rest. The only sale was in Real Estate Mortgage & Investment preferred stock, 40 shares selling at 4%. Postmaster V. C. Burke announced today the new Apex Postal Station, opened at 813 Market Space north- west, opposite the Archives Building, will be a postal savings depository, also handle United States savings honds, in addition to all other postal services. The National Metropolitan Bank has done away with the receiving teller and paying teller system and made all windows paying or receiving windows. Irving Zirpel, secretary of the Union and assistant trust officer, is taking his- annuai vacation. Tobacco of (6) n Type Founders. Water Wks 8oc. Woolen 541, Am Woolen pf (b2). 6% Am 4« Anaconda Cop b75c Anaconda Wire blg Anchor Cap (60¢) 40 Archer-Dan-M(12)_ 106 Armour(Del)nf(7)_ 7 Armour of 111(b35c) 817 Armour(1il)pr pf 6 57" Armstrong Cork(2) ®i¢ Artloom Corp 5 15% Assoc Dry Goods 92 Assoc Inv pf ww(5) 691 Atch T & S Fe (b2) * Atl Coast Lineal)_ Tla Atl Refinthg (11)___ Atl Refin pf (4) Atlas Corp (80c) )'2 Atlas Corp pf (3) R Atlas Powder b113_. 113% Atlas Pwdr pf (5)- 13: Auburn Auto tin Nichols 55 Aviation Corp D 4% Baldwin Loco (d) .- 4% Baldwinasd «d) . 31, Baldwin pf asd(d)_. Vs Baltimore & Ohfo _. 7' Baltimore & Oh pf_. 3813 Bansor & Ar (2 2 100% ~ Barber Ca (b23c)_. 2 Barnsdall (1) ____. 137y Bayuk Cigar t75¢c__ 40': Beech Creek RR(2)_ 11's Belding Hemin (1) 18', Bendix Aviat'n b30c 20% Benef [nd Ln (b95c) : Best & Co (235) 3 Bethlehem Steal (b1 : Bigelow-Sanf’'d b13{ Black & Decker (1). Blaw-Knox (bi5c)- 7' Boeing Airplane _ Bohn Alum & B(3 41% Bon Ami (B) (213)_. 21': Borden Co (1.60) . s Borz-Warner (2) ... 79 It 17 247, 106 943 24 181, l;kl,xn» fan T (214 102'¢ 65 Bklyn-Man T pf(6). & 2 Bklyn & Queens 442 Brown Shoe (3) 16% Brunswick-Balk 14's Bucyrus-Erfe 7's Budd (EG) Mfg____ 7' Budd Wheel b20c___ 30% Bullard Co (b30c)__. )'s Bulova Watch (14)_ 2 Burr Add M (80¢)__. 4'x Bush Terminal '\ Butler Bros (60c)__ ' Butler pf (1%) ___. Butte Cop & 7.(a5c) - 17' Byers (A M) _ 25'¢ Byron Jackson (11). ' Calif Packing (1%). Calif Pkg pf (235) - 2% Callahan Zinc-Lead 12 Calumet&Hec b7sc-. 24 Campbell Wy (t1)_. 2315 Canada Dry G Al 12% Canadian Pacific __ 9'a 6% Carriers & G (b10c). 17612138 Case(J 1)Co (4) _ 129% 113% Case(J I)Co p£(7) 100 Caterpillar Tr (+2)_ 411 26% Celanese Corp bl13. 481 3613 Celotex Corp b40c 8213 733 Celotex Corp pf(5)—. 12% 612 Central Foundry 96 Cent 11 Lt pf(4%)_. 18 Central RRof NJ_. 11 Cent Violeta Sug 81z Century Rib M b20e. 60 Cerro de Pasco (4)_. 111 Certain-teed Prd 481, Certain-teed pf 3512 Champion P&F h11g Champion P pf (6)_ 141« Checker Cab Mfg 505 Ches & Ohto t2.80 _. 91 Ches&Oh pf A (4)_ 6% Chi & Est 111 pf (4)_ 2 ChiGrt West (d). 8% Chi Grt West pf (d 1% Chi Mil St P&P (d) - 3% Chi M St P&P pf(d). 3 Chi&NW (d)_____ 21 Chi Pneumatic Tool 3% Chi RI&P 6% pf(d) 15% Chickasha Cott'n Ofl 9% Childs Co 94 Chrysler Corp b33 _ 80 City Ico & Fpf 6% 6% City Stores ___ 2% Clev El [1lu pf 435 Clev Graph (b1) % Cluett Peab'y b2 a3 340 481, 504 50 6ls 200% 37 381 1 Coca-Cola (12) Colgate-P-P(t50c) - Collins & Afkn (12). Col Fuel & Iron(bl) Colo & Southern___. Columb G & El(40¢) ColG&EDIA (8)_. ColG&Epf (5)___. 391 2814 Columb Plo vte (11) 125% 111 Col Carb vte (14) .. 691 563 Comel Credit (14)__ 801 631 Comel Inv T (14) __. 13 Comcl Solv (+60¢) . 2 Comw & Southern 46 Comw & Sou pf(3)_. 197 Consol Aircraft 8315 Con C pr pf ww 6% 31! Cons Edis N Y(12)¢L 99'; Cons Ed N Y pf(5)_. 215 Cons Film 10~ Consol Film pf(a2). 9% Cons Laundries 1412 Consol Oil (180c) 415 Cons R R Cuba pf. 814 Cons Coal(Del)vtc_ 33 Cons Coal Del vtc pt 20% Container Corp 1.20. 18' Contl Baking (A)... 2% Contl Baking (B) 81 Contl Baking pf(8). 50 ContlCan(3) _____ 181; Contl Diamond (2)- 35% Contl Insur (11.60)_ 2 Contl Motors 39% Contl O1l Del (+1)__ 6215 Corn Ex Bank (3)__ » Corn Prod Ref(t3)_ 3 Corn Prod R pf (7)_ 10% 6 Coty Ine 561 40 CraneCo 121 1181 Crane Co pf (1) 1057 10014 Crane Co cv pf (5) . 287 Cream of Wheat(2). 1814 Crosley Radioal3_ 68 Crown Cork & §(2)_ 16% Crown Zellerb_____. 7% Cuban-Am Sunl‘.— 127 110 Cub-AmSpfb7%.. Bales— Add 00. High. Low. 12 16% 16% 23, 29 6914 2% THE EVENING 0 10"« lfl"c 14'5 211 B to et News (N Y) (3) x 508 7 Am Power & Light. - o [ e TR T Y L e 12') i lSl 50' 113 91 374 421y 69 Tia 9Tly 18Y% 121 9% 66 El i 141 161 112 90 367a 4215 764 63 97 181 141 21 109 15 A0S 691 119 167 5015 13% 25% 243 124 o 1681 113 91 367 421 76 7 9713 184 58 57 108 1077% 10775 1077 2 15'3 13 53% 94 T4% 2% 10 3% g & 3 157% 156% 156' 5 19y 2 49y 1 323 608 151 1157 2iq 6 41 151, 52 94 % 214 10 2 1914 49y 32% 157 63 404 151 25's 19% 49y 323% 41 2 1168 116% 116% 16 10315 1017 1034 2874 20% T4% 18% 1 62 9 1% 8 8% 100 115 34 2874 20% 72% 18 62 1% 8% 116 2874 20% 74 18 62 1% 8 18 ou+l+++l_(|+| I+ 1+ ++b+tt Hrt+ ] 4+ + Y% +2Y% +1% % 4+ % +8 Prev, High, 43 20% 1095 1037 Low. Stock and Dividend Rate. Bales— Add 00. 877 Cudahy Pkg (234)_.x 813 Curtis Publishing_. 71 Curtis Pub.af (7). 5 Curtiss-Wiight 161 Curtiss-W (A)a500.- 48 Cushman Sons pf. 7313 Cutler-Ham (b1) 99Y% Dayton P&L pf 4% . 104% Deere & Co . ... __. 25% Deere & Co pf 1.40 . 177 Delsel-Wem-G(t1)_ 33 Delaware & Hudson 13% Del Lack & West __ 4 Den& RG W pf(d). 26 Diamond Match (t1 14% Diamend T Mot (1). 20 Distil Corp Seag 34 Dixie Vortex A 2% 35 Doehler Die Cast(2) 3814 Dome Mines (t2)___ 47's Douglas Afrcraft Dow Chemical (13)_ Dresser (A) (a3) __ 37s Dunhill Internatl _ « 14815 Du Pont de N(h23;) 115’: 21301 DuPont deN deb(6). 110% Duauesno 1st (5) Jastman Kodak (8) 2915 Eaton Mfg (2) 10% Eitington-Schild __ 843 Tllec Auto-L b1.40._. 9% Elec Boat (a60c) _. 4'; Elec&Mus 1 (al18e). 14! Elec Pow & Light _. 5813 Elec Pw & Lt $6 pf_. 62 Elec Pw & Lt $7 pf 3 Elec Storage Bat (2! Elk Horn Coal (d) .. Elk Horn Cl pt (d) % El Paso Nat G 1 60. % Public Serv Equitable Office B_ eR R e R R 1stpf. e R R 2dpf Tl Eureka Vacuum 18 Ivans Prod (11)_. 3 FalrbanksCo. ... 20% T uirbanks Co pf ' rb'ks-Morse (11) ajardo Sugar (b2). eral Motor (40¢). ‘ed Screw \Vorks__. ed Water Sve A __ ed’d Dept Str(2) ._ 36 Fidel Phoenix t1.60. 31 Firestone T&R (2)_ 101 Firestone pf A (6) 3915 t Natl Strs 1234 1 Follansbee Bros(d). A7's Foster-Wheeler __ 4 .24' Freeport Sulph (1) 391, 47 141 108 177 106'3 8 157 126 X 471 131% 33 6 2815 9l 189 1i2% 162 1574 36 1074 30 155 136 118% 114 537 415 110 374 k% 10% 43 28% 147% 28% 41% 36 281 4215 42 66 15% 105'x Freeport Sul pf(6) _. 11% Gair (Robert) 384 Gair (Roht) pf (3) 11 Gar Wood Ind b2ic- 10'3 Gen Am Inv(aTic)_. 49° Gen Am Inv pf (£) . 21, Gen Am Trans blig. 10% Gen Baking (160c) 20 Gen Cable = 3413 Gen Cigar (14) 49% Gen Electric (bS0c). 36 Gen Foods (2) 113 Gen Gas & Elec(A) 48 Gen G&E 6% cv pfA 60 Gen Mills (3) 117 Gen Mills pf (6) % Gen Motors (b11{) « Gen Motors pf(5)__ 8% Gen Outdoor Adv ien Outdoor Adv A « Gen Pub Service 41'¢ Gen Ry Signal (1)._, Gen Pealtv & Util__ Gen Refract (b2) Gen Time Instru 1. 1415 Gillette S Raz (t1)_ 80 Gillette S R pf (5) 2014 Gimbel Bros = 40% Glidden Co (12) 4 Gobel (Adolf) __ 5% Goebel Brew(t20¢c). 31 Goodrich (BF) b0c_ 27% Goodyear T & R bl _ 100 Goody'r T&R pf(5)- % Gotham Silk Hose _ ham Paige Mot Grand Union pf bl Granite City Stl(1) 3413 Grant (WT) (11.40) 40°< Grt Northern pf 17% Grt Northn Ore (1) 34 Grt West Sug 1240 35 Grt Wst Sug pf(7) 4 Green H L (11.60) . 123% Greyhound (t80c)_ 2 Guantanamo Sug.- 1315 Hall W F Print 103 Hamilton W pf (6) - 40 Harb-Walker (+2) . 10t; Hat Corp of Am 80¢ 9313 Hat pf ww (6%) . 4 HayesBody _ _ 114 Heckers Prod (160c) 100 Helme (GH) (15) _. 3515 Holland Furn (h1) . ) 9% Holly Sugar (h21() 471y Homestake b37l.cn 18 Houd-Her B (t134). 57% Household Fin (4) 12's Houston Oil vte _. 621 Howe Sound (13) _. 2% Hudson & Manhat__ 7 Hudson & Man pt 13'¢ Hudson Motor 3 Hupp Motor._ 21 Illinols Central 6015 I11 Cent 13 In (4) 12!5 Indian Refin (a1)._.. 3 Indus Rayon (2).... 94 Inland Steel (14)... 17% inspiration Cop 4* Insur Sh Md lbloc). 16'3 Interlake Iron._. 5 Intl Agricultural. 146'5 Intl Bus Mach(16) 99'x Intl Harvester(2%) 1447 Intl Harv pf (1) 8% Intl Hydro El1 A 612 Intl Mercantile 10 Intl Mining (b30c). 5514 Intl Nickel (b1) 161 Intl Paper (A) 10% Intl Paper (B) 57 Lntl Paper (C) 90 Intl Paper pf 4313 Intl Ry C Am pf A_ 4113 Intl Shoe (12) 88 Int Silver pf (b6) 9% Intl Tel & Tel _ 20's Interstat Dp St b23% 100 Inter Dept St pf(7)- 2514 Island Creek (2)___. 120 Johna-Manv (13) 117% Jon&L 7% pf b3%5_. 28 KalamazooS (11)._ 15 iKans City South_ 4 Kans City So pf(al) 20 KayserJ &Co (2)_. 12% Kelsey-H A (al%).. 913 Kelsey-H B (al34) . 51 Kernecott Cop b1%. 14'4 Keystone S&\W b30o 3813 Kimberly Clark (1)~ 5 Kinney (G R) Co.._ 474 Kinney pf (al) 35 Kinney(GR)pr pf 5. 20% Kresge (S S) bé0c._ 18 Kroger Groo (11.60) 184% Lambert Co (2) .. 17 Lee Rubber (b1)_ 32 Leh PortCmt 1% 1% Lehigh Valley Coal. 8% Lehigh Val Coal pf_ 13 Lehigh Valley RR._ 36 Lehman Corp'n(t1) 15 Lehn & Fink b623c. 41 Lerner Stores(12).. 59% Libbey-Ow-F b75c.. 9% Libby McN & L(al). 25% Life Saver (11.60) _. 93 Ligg & Myers (t4) 9414 Ligg & Myers B t4_. 43% Liquid Carb (2.60)_. 6415 Loew's [no (#2) __ 105% Loew's Inc pf(6%). 1 Loft Inc 50% Lone Star Cem (3) - 5% Long-Bell Lumb(A) 28% Loose-Wiles (2) ... 20 Lorillard P (+1.20)_ 130 Lorillard P pf (7). 19% Louis G&E A b37‘,fi! 29% Ludlum Steel (t1) 24% McCall Corp (12) 16% McGraw H P b42%c 32% Mclintyre Porcu(2) . 31% McKeesp't Tin P(2) 12% McKesson & Rob___ 427 McKess & Rb pf(3). 12% McLellan Strs b75e. 40% Mack Trucks (t1)__ 44 Macy (R H) (12) _ 10% Mad Sq Gard bl.1 Man El md gtd (d) 15% Manbat El gtd (d)-. 3% Maracaibo Oil Exp.. 9% Marine Mid (140c) .. 20 Market St Ry pr pf_ 18% Marshall Field ____ 19%4 Martin (Glenn).... 7 Martin-Parry.coce. 48!5 Masonite (t1) 32% Mathieson Alk (1%) 61% May Dept St (13) 8 Maytag Co (li(?').-A 20¢ 10 3 Franklin S pf(as3)x 108 11 &0 3 10 208 1 9 1108 1 2] 2 1 > il 80 1 1 1 608 308 12 1 —- e [T PO O TN o S ST PG T OIS S 20 0900 0019 6905 109 09 1 €1 00 = 108 1 5 1108 36 10 1 P | 7 1 3 10 . Low. Close. chn % STAR, WASHINGTON S UE S 44+ 14++4+ +41 D. C. THURSDAW JULY 1, 1937 1444+ +++ Prev. 1937 High, Low. 111 104 Stock and Dividend Rate. Maytag 1st pf (6) Mead Corp (b50c) Mead Corp pf (6)_ Melville Shoe (t5)_. Mengel Co . Mengel 1st pt Merch&Min (11.60). Mesta Mach (b2%)_ Miami Copper Mid-Cont Pet (b50c) Midid St 1st pf(8) Minn-Hon Ros (2)_. Minn Moline Pow __ Minn Moline Pw pf_ MStP&SSMIsin_ 2 Mo Kans & Texas _ Mo Kans & Tex nf A Mo Pacific pf (d) __ Mohawk Carp t1.20. Monsanto Ch (b1)__ Montgz Ward (12) Morrell J (2.40) - Mother Lode al2%40. Motor Wheel(1.60)_ fueller Erass (11)_ Mullins B (a50c) Mulling pf (7) - Murpty (G E) 3.20 . Murray Corp(asoc). Nash Kelv (1 Natl Acme (b25e) _ Natl Biscuit (1.60)_ Natl Biscuit pf(7) Natl Bond & In 1.44. Natl Dairy Prd 1.20. Natl Dairy pf B (7). Natl Dept Stores 4 Natl Dept Strs pf__. Natl Distillers(t2).. Natl Gypsum Natl Lead (150c) Natl Pw & Lt (60¢). Natl Steel (+215) Bales— 'ty Omnibus ek (new) nvestors (d) VH & H (4) LZZ 2272722 N Y Shipbuflding-. N Y Steam 6% pf_ Norf & W pf (4) _ North Am Aviation North Am Co (b60c) North Am Co pt (3). Northern Pacific __. Norwalk Tire & R is Corp vte . evator bilc Otis Steel Owens-111 Glass (3) 1 acific Am Fish ific Coast s & Elec (2)_ Aghting (3) - c Mills (b1) _. ‘el & Tel (8 1 & T pf (6) ckard Mot (bl5c) nhandle P&R pf. ramount Ple. . __. mnt 1st pf (6)_. ramnt 2d pf 6lc rk Utah ’arke Davis(b1.40 Y’nc Patino \lml‘!\YfiOC) Peerless Corp Penney J C) (4)_ Penn Coal & Coke_ Penn Dixie Cement. Penna I R (b30c) Peoples D Peoples Gas Chi _ Petrol Corp(A) b40c s Pfeiffer Brew bic Phelps Dodze bsoc Phila Co pf(6)new_. Phila Rap T (4) crew (bidc)- Steel Pitts & W Va_____, Plymouth Oil b70e Poor & Co (B) Porto R Am Tob A eel Car c Gam(t2 I\J (2.60) . J pf (6)_. 3 LU= Pullman Inc (1%) . Pure Ofl Pure Oil pf (8) Purity Bak (60¢) ___ Quaker State O bdsc Radio Corp _ Radio st pf (3%) Radio-Keitn-Or (d). R R Sec 111 Cent Raybestos M (11%) Reading RR (2) Reading 1st pf (2)_. Real S H pfal0is_ Reliable Stores (1)~ Rem-Rand (b3ic) Reo Motor Car Republic Stee! Republic pr pt A(6) Revere Cop pf bl . Revuolds Met (t1)_. Reynolds Tob (3)._. Reynolds Tob B (3). Ruberoid Co tG(\c) 2 3 Rutland R R ot Safeway Stores(12) Safeway Strs pf(7). St Joseph Ld (12) . St L-San Fran (d) . n Frpf (d) Seaboard A L pf(d). Seaboard Ol (1) Sears Roebuck (3) Servel Inc (11) - Sharon Steel (11.20 Sharpe & Dohme __ Shattuck F G (60c). Sheaffer Pen(b1%)_ Shell Un Oil(hi0c) - Simmaons Co (b1) Add 00. High. 208 100 26% 95 39 40 SR 287 341 10t 121y 35 284 4% TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE Direct to The Stai now on daylight saving time, Prev. 1937 lenh Low. 19'; Snider 6's Socony- 2215 So Cal 40% Southe: 24 Southe; 374 Southe: 98 Spang 54 Sparks- 30% Spencel Sperry C Spicer Spicer 198 81 2 Sterlin n 19 10815 15 6 2814 an « Suther! 9t Texas '« Texas Texas Texas Therm Thomp Trans 20th ¢ Jnion Union fon Union Union Union Unit A Utd A1 Utd Bi Utd Bi ‘nited UnitT utd F United Utd G 2 Unit F US Fri USGy S Gy S UsSs: jtd St niv C; Vick C Waldo! Walgr Warne B Warre 4313 Wesso 80 Wesso 83 West k 2 Westn 130's Westh 143 We: 21 38 20 White 20 White 14% White 25 White 3% 81 6% 66 48 Worth Worth » Yellow « Young 4« Yestn ‘ 1% 1ia e 30 Zenith 47s Zonite Total §: larations 3 Unit of tra including _extr d Companies report X Ex dividend. not 443 Stock and Dividend Rate, 42 Skelly Oil (b50c) 9815 Skelly Ofl pf (6) Smith (A O) 2713 Smith&Cor efs t '2 South Am G & P 30¢ 62 Spalding (A G) Splegel, Inc (1)_ Spiezel cum pf (414) 374 Square D (B) h60c 2 and Brands(t80c) and Com Tobac- . 5% Stand Gas & El (d)_ 12 13 Stand G&E $4 pf(d) 2 36'; Stand GRE $7 pf(d) 1 » Stand Oil Calif (1) 40 Stand OI) Ind (t1)_- Stand OII'N J (11) __ Stewart-Warn ti0c. okely Bros (t1) one & Web(a25c). Sun Oil (11) 713 Superheater (1%)..x 4’ Superior O1l_ 28% Superior Steel Swift & Co (11.20) .. 3% wift Internatl (2)_ 5% Syming ww (b yming xw (b3ic)_. Tenn C * Texas Corp (2) Tex Pac C&O bloc . The Fair _ Thompson Starrett. Tide Wat As Oil 80¢ Tide Wat AOpf 4, Timken-Detroit(t1) Timk'n Roll Brg(3) Transamerica t40c . Triax-] ‘ent Fox (b1). Utd Carbon (4) _. Unit-Carr Fast(12). Utd Corp (a2ie) ... Utd Corp pf (3) . Utd Gas Imp (1) . ape U S Distributing pf. U S & For'n Secur_. Hm(anph" ) Lea vtc ne S Lea (A) vien ar Chemical ar C6% pf blls Va El & Pw pf (6) - Wabash (d) _ Walgreen Co (2) Walworth Co.. Ward Baking (B) Warner-Quinlan(d) 4 Wayne l’ump (2) 90'; West Penn El pf(7) 4 W'n Auto Sup 1.60_. Western Pacific __. 401 Westingh'se A B(1) vse El1stpf b2 2 Weston El Inst b2ic Wheeling Steel . _8's Wilson & Co (50c) .. 77 Wilson & Co pt (6) .. Woolworth (2.40) Wrigley W jr (13)_. Yale&Towne(160c). Ygstn S&T pf (5l3). Dividend rates as given in the above table are the annual cach vavments based on the latest quarterly or half-yearly dec- | FINANCI Bales— Add 00. Pkg (b1%) Vace (b25¢) - Edison t13%_. rn Pacifie. ... rn Ry rn Ry pf_. Chal pf (b6)_ Withing T Kell (1.60) EDjste(an) Nifg (a3) Dt A (3) 18 408 40 4 & Prod t3.80. land P t1.60_. orp (b Gulf Prase__ Gulf Sul (12) &Pac LR - P LT (alOc). oid Co z p P'rod bioe _. I wanSTenBaneaa Wst Alra2ic. Fraer (80 " )e)- bBag & P (2) .. Carb (3.20) ._ AL STOCKS MOVE UP ON BROAD FRONT Gains of Fractions to Point Held at Close Despite Some Selling. Stock Averages 30 15 15 an Indus. Ra Util. Stks. Net change. +.6 —~.4 +.2 -.5 Today noon 901 378 402 Prev. day 374 40.0 Month ago.. 918 427 418 350 487 495 54.0 361 39.1 626 435 537 728 30.2 434 557 S 175 87 239 169 -146.9 1539 184.3157.7 ¢.--- 51.6 953 618 61.8 64.4 639 66.9 63.6 1937 753 1937 1936 1936 1932 (Comptled by the Associated Press.) NEW YORK, July 1—The .sm('k market rested on its oars today after a further upstream pull in extension of a midyear rall While gains were shaved through- out the list in the afternoon, most shares held advances of fractions to more than a point. In late dealings prices settled into an aimless drift. A shift toward steels was seen in a brisk upturn in the group for a while, accompanied by & break of more than 3 point$ in Chrysler. However, steel shares encountered larger of- ferings on the *bulge and yielded part of the ground gained. Chrysler, & recent favorite, which seemed to h: been particularly hard hit by switch- ing into steels, recouped most of the loss before the close. approximated 700,000 Steels were in favor partly on the assumption the industry, for a while anyway, had emerged from the rough= phases of the battle over unioniza= Oii(Calif)1.20 Pacific (6) . . Pacific pf(4). Tnk Car 1.60 ircraft bic x r Linesa20c. scuft (1.60) . scuit pf (7). § e B = TS =Ttk NP PR Sl P I i Drug (bZ5e). ewood t1)_. ecConl...___ Fruit (13) Imp pf (5) __ A4 bae. 100 elght (1) _ psum (12) ___ psum pf (7). 10 1 nelting (b6) Steel U S Steel pf (7) Unit Stk Yds lSOC) x ores (A) _ clops St1(1) « Utll Pw&Lt (A)(d) Vanadium Corp. __. A hemical (12). 801 rt Sys(11.20). cupf ww 4 Srowmwe don T Bros Pict__ n N os (d n O&S (150c) n O&S pf (4)_ Penn El pf(6) Un Tel (3) se Elec (b2) B Dental 11.20 Motor__ Rk M S(1.40) Sew Mch pf_. Pump pf(A). Pump pf(B)_ Tr & Coach_. Spr& W(t3). S&T (b11z) . = St e [SYTUL-H IO IO TOTOP QU ST Radio (b1) Products ___ 180,000 430 000 (2 R ales for the day. 670,000 310,000 540,000 tAnnual rate— Paid this year. being reorganized € less than 100 shares, a last year. b Tecetversntp of ed 1n BITUMINOUS OUTPUT OFF SLIGHTLY IN WEEK The National Coal Association, from incomplete car loading reports from the railroads, estimates bituminous coal production in the United States for the week ended June 26 as ap- proximately 7,060,000 net tons. Pro- duction for the corresponding week: 1936, 6,867,000 tons; 1935, 6,515,000 tons. The report of the Bureau of Mines shows production of 6,995,000 tons for the week ended June 12 and 7,112,000 for the week ended June 19, 1937. Production calendar year to June 26: 1937, 217684,000 tons (*); 1936, 194.862,000 tons. *Subject to revision. BOSTON WOOL MARKET. BOSTON. July 1 (7 (U. S. Department of Agriculture).—Spot wool was auiet to- day ~and auotations " were unchanged ough largely nominal. e Wettern” ¢rown wools held in the country received a little call {rom mills and top makers. Average 12-month Texas wools were sold at around 9:-0 scoured basis. delivered ~East. French combing _12-month ~Texas Wwools prought sround %5 cents, scoured basis. de- red. while some staple combing length e nonth Texas wool Brousht around 57- 98 cents, scoured basis_delivered. few buyers making offers were bidding only 80 to 93 cents. scoured basis, for good French combing length territory wools in original bags. but none was available In Boston under 95 cents, scoured basis. METAL MARKET. NEW YORK July 1 (P —Copper steads: slectrolytic gpot and future, Touis spot and’ future. * Platinum, 49.00, Iron. aluminul ony. quick- silver and wol{ramite unchanged. . Pacific Telephone & Telegraph Co. | common share earnings, five months DIVIDENDS ANNOUNCED NEW YORK. July 1.—Dividends | clared—prepared by the Standard tistics Corp.: Extra. de- Sta- Peo Stk of Rate. riod. record. Alaska Juneau G M l3c Pas- able, Initial. Natl Cylinder Gas (new cap) xx ¥ Arrears. Soung, Chaitent. ot Pac Pub Serv Passed. New York & Richmond Gas 6% Resular, L dbe »f. Adams J D Mg Administered Fund Alaska Juneau G M lvc Am_Factors Anheuser-Busch Bloch Bros Tob 67 P Bullock Fund Fall River Elec Lt Hercules PwW 6% pf $1.5 McCrory Strs 67 pf 81 N Pumps 51, spc pt_l3dsc Foyal Dutch Ord- Bearer 1,000 fi Shell Transport & ing Ord-Bearer_ Wash By & EI R& E5% pl & WanE & E§fe pr-St West Coast Oil $1 Natl Malleable % su B0 - Pul Bery o a Boss - Royal 'fynewnm i 58} Virginia Coal & Tron_ Natl Mnl‘!nbla & Btl Pub Serv cQ -l A separate dividend due to change in dividend "dates and dividend periods on preferred stock equivalent to one-third regular rate. 3 §x~P|rst payment since 2-for-1 split-up as 3 $1.50 e ARREARAGES CLEARED. NEW YORK, July 1 (#)—Spang Chalfant & Co., Inc., Pittsburgh, de- clared a dividend of $3 on preferred stock, liquidating all arrears. ‘The dividend is payable August 2 to stock of record July 16. Company special- izes in production of welded tubular ended May 31, were $3.50 against $3.07.products. N S NEW YORK COTTON | | By the Associated Press. NEW YORK. July 1.—Cotton eased | today under Wall Street selling pro- moted by easy Liverpool trading and the forecast of favorable weather in | the South. October sold off {from 12.07 to 12.00, but when pressure proved light it re- covered to 1205 by midafternoon, when prices were 6 to 10 points net lower. Futures closed very steady High July o October = December __ January March . __C May Spot steady; middiing. (,ulton!eed 0il. Bleachable cottonseed oil futures| closed barely steady, 1 to 5 lower, Sales, 76 contracts. July, 9.09; Sep- tember, 9.09-9.10; October, 9.07; De- cember, 9.0l1b; January, 9.02-9.03. b—Bid. New Orleans Prices. NEW QRLEANS, La.. July 1 (?.—Cotton cpened Steady in moderate trading today, and initial transactions showed losses of 3 to 10 points. Decidedly lower Liverpool cables and circulation of additional notices for 500 bales of July cotton were the depressing infiuences July opened at l“ 00, Oclflh(r Al 3 December at 1 Ji 1, March at 12.20 lnd May AL I" 1 bid. After rallying a few points from the cpening lows the market encountered re- newed selling and toward the end fi!. ”L" HIa: Decomber, 8.5 Bid. Sanuary, 554 bid. 75 TONS OF LEAD SOLD. NEW YORK, July 1 (#.— 8t. Joseph Lead Co. reports 75 tons of | oats, tion and was headed for a fau busy Summer, In contrast with further gains in most utilities, American Telephone bowed to renewed liquidation. It was | off around 2 at one time. | Out in front of the advance were United S s Steel, Bethlehem, Na- tional Sleel, Western Union, Public Service of New Jersey. American Smelting, International Nickel, United States Rubber, Paramount, All Pure United Aircraf at Northern preferred, Illinois Cene al and Texas Ci In a thin m Allied Chemical were Westinghouse, Santa Fe. Goodrich. Boeing, Southern Pacific and New York Central. Farm implement shares did little in face of a further run-up in wheat, taking some options up the 5-cent a bushel limit. Cotton sagged. Bonds | were mostly higher. CHICAGO GRAIN the Associated Press. CHICAGO. July 1—All Chicago de- liveries of wheat skyrocketed to the | immediate permissible limit at the last todav, 8 cents a bushel in the | case of July contracts Renewal of alarm about crop dame jage in Canada and regarding rapid | spread of black rust in the United | States was chiefly responsible for general rushes to buy wheat futures, Cables indicated likelihood of possi- | ble big export requirements from the | United States, difficult to fill if fears of Canadian and domestic crop in- jury turn out as badly as apparently may now be the case. | At the close wheat futures in Chi- cago were 47g-7°< above yesterday's f'mSh Jul 1.26-126'.: September, corn, 27g-3'; up: July, September, 1.1374-1.14, advanced. ors | Bs 5 1 28 17521, | . WHEAT— | Juiy 1 Sept. | Dec CORN— July” new 281, 12410 1 ol T 114 1.08% 1.13% 821y 782 .81 Chicago Cash Market. Cash wheat—No. 1 red, new, 1.27%; No. 2 red, new, garlicky, 1.22; No. 1 hard, old, 136';; No. 2 mixed, old, 1.32-33!4; No. 3 mixed, old, 1.27; corn, No. 4, mixed, 1.16%;; No. 2 yellow, 1.27-29; No. 2 yello : 1 white, 1.29 2 'white, 1.28; oats, No. 1 white, 51-5114; No. 2 white, 51- 51'3; No. 3 white, 49-50; no rye; no buckwheat: soy beans, No. 2 yellow, 1.39; barley feed. 53-67 nominal; malt~ ing, 71-97 nominal; no timothy or clover. Baltimore Quotations. BALTIMORE. Julv | (%.—Wheat No_1 ted Winter, garlicks. epot. domestic. 122 BIG GAINS REPORTED BY T. W. A. FOR MAY Bs the Associated Pres NEW YORK, July 1.—Substantial gains in May over April in Trans- Continental & Western Air Traffic, Inc, were announced today by Jack Frye, president. The line carried up- ward of 2,000 more travelers in May than in April and carried 5,000 pounds more express. SHORT-TERM SECURITIES. (Reported by Chas. D. Barney & Co.) Amer T & T 5145 '43 _ Auburn Auto 4345 '39 Baldwin Loco Wks 35 '40_ California_Packing 5s '40 Carolina. Cl & Ohio 55 '38- Chesapeake & Ohio 5s '39_ Edison Elec Tuam 4820 Gen, Pub Bervice §14s Gr Repids & Ind 4V, Houston Qi hias 40" Internail Mercan Ma Internatl T & T 4'3s Laclede Gas Light s Lehigh Valley Coal 65 '3 Lehish Valley Term 5 Long Island Gen 4s ‘38 Louisville & Nunnno 4540 Michigan_Central g 2 22 o DB25 3550099533355 382233332320883358 23 NY. Susque & West New Yorg Tel 4'us Patific RR of Mo 4s "38 Eenn-Dixie Cement 68 ‘41 Pennsylvania RR 4s Rio Grande Western 45 30 Southern Bell T & T 55 '41 Jerm RR Aten 8t L a8 '39 Vanadium Corp 5; pig lead from Southeast Missouri mines sold yesterday at $5.85 per hundred pounds 8t. Louis. Vertlentes Buiaar Rallwa: ST wum-n vman m "3