Evening Star Newspaper, July 1, 1937, Page 15

FINANCIAL. CURB LIST EDGES T0 HIGHER LEVELS Gains of Fractions to $1 a Share Distributed Through- out Market. By the Associated Press. NEW YORK, July 1.—Creeping ad- vances were made by most active stocks in the Curb Market today. Late in the session gains ranging from small fractions to a point or more were distributed evenly through the list New Jersey Zinc added several points, Gulf Oil was up about 11, while major fractions were annexed by E. W. Bliss and St. Regis Paper. Aluminum Co. of America and American Cyanamid “B” also im- proved. Cost of Ln mg Rises, but Stays Far Below 1929 By the Assoctated Press. NEW YORK, July 1.—The cost of living has been ng. but it is still well under 1929. National Industrial Conference Board indexes, based on 1926 as 100, follow Anr. Yes Al < Clo 00 Housing items hing 7 ISEN trent) 5.9 BANK LIABILITY LAW REMOVED IN MARYLAND he Assoctated Pre July 1.—The double olders of all State s of Mai the State law ability of stock- banks had been v a Federal law. State bank com- i State law which eliminated the double hability con- cerning State banks and trust com- Ppanies became efiective today It was approved al a referendum at the last election and at the 1937 Gen- eral Assembiy. CURB BONDS DOMESTIC EONDS books today. This holders of nation removed previo Warren F. Sterl: missioner, Ala Power 4’ atineau r Pb Gen W W & E Georgia Pw 5 Hack Wat all (W F) TOS1 a0y 10410 10078 & q Indian E C Indianap G Indnap P & L 5< Interc Pw Intl Salt 5 Interst Pw Y & No Con U 5iss 4% No Ind P § 55 Pitts Steel ‘Bs '4& Fortland G & C 5 L 4s '66, For Ry Vb 500} '37 gm Prv B 5 n: anover City 75 '3! spover Pv 8141 40 65 Aranhao B 7s 58 ssian EI 65 5 Rusatan bys 21 mat ussian 61zs mat A Thd (O aas 41 Wit warrants, Xw—Without war- —New. st (stp)—Stamped *Werotianiiy imphived by maturity. tCompanies reported in receivership. 4815 851 :!t‘z NEW YORK SUGAR. NEW YORK. July 1 (P\.—Sugar futures were generally higher today on increased covering and buying by trade and com- mission houses encouraged by the steady spot market and reports from Washington that the House Legislative Committee had approved the compromise sugar bill July No. 3 g0l u 2.54 and March to or Soinia mer P ssnr'gn 5 By private wire All time shown be on which the Exch: Stock and Dividend Rate. A Ainsworth h50c . Alr Device Corp Ala Gt South (3) Ala Pwr pt (6) Aluminum of Am Alum Am pf (6) Aluminum Ltd Am Airlines Inc Am Box B'd b70c Am Centrifugal Am C P&L B b30m Am Cynm B t60c Am & For Pw ww Am G&E (1.40)__ Am Gen (a50c) . Am Laund M 80c. Am L&T t1.20 _ Am Mfg Co (b2) Am Maracaibo - Am Pot&Ch b1y Am Superpower . Am Superp 1st 6_ Anchor Post I _ Angostura(i20c) Appalch E P pf 7. Arcturus Radio__ Nat Gas tGas (A). Nat G cu pf . Ark P& L pf (7). Art Met W (80c) AssoG & E (A) _ AssoG & E $5 pf_ Atl Cst Fish b3ic Atlas Corp war_ Austin Silver Auto Products Bardstown Dist Barium Stain Stl_ Bath Iron Wks_. Berkey & Gay Berk & Gav war .. Bickfords (1.20) - Bliss (1 \WV) Blue Ridge(b Blue Ridge cv 3 Bohack i1C 1st pf Borne Seym b | Bower Roll B( Brewster Acro Bridgpt Mch b23 Brit Celan rets Brown Co pf Brown Forman _ Buckeve PL (4) Buff N & I 1st Burry Bis (b25c) Carfb Synd(b30c) Carnegie Metals_ Caro L&D pf(6) Carrier Corp 2 Carter (JW) 80c. Catlin (ad0c) Cen Hud G&E 80c Cen P&LDPL heR1_ Cent & S W Util . Cent § Cent § Chesebrough (14) Chi Flex Shft (4) Chi Riv&M b30c Cities Service Cities Serv pf Claude Neon Lts Club Alumin Colon Dev Ltd Colo Kuel&] war_ Comwlth & S wr Comnuty P&L 1st Comunty P'S t1 Consol Copper C GEL&P Bo 3.60 Consol Steel Contl GKE prpf 7 Contl Ol (Mex) Contl Roll&S Py Cord Corp Corroon & Reyn_. Cosden Petrol Creole Pet 7(30c) Crocker-Wh allc Croft Brewing _ Crown Drug Co Cuneo P pf (613) Cusi Mex Mining Darby Pet (30c) Divton Rubber Dejay Stores 180¢ Derby Oil & Ret Det Gas pf 1.20 Det Gray Iron 4c Det St! Prod bise Diveo T Trk (40c; Domin Steel __ Dubelier Conds _ Duro Test (40c)_. gle P Ld b20c tn G&F A pt 3. tn States Pw _ Bond & Share_ 8c B&S pf(7) - B&Spf (6) _ Emsco Der 11 __ Equity Crp a2sc_. Evans Wall Ld . Evans Wall L pf Ex-Cell-O (bi0c) Fairchild Aviat__ Falstaff Br 11% Fedders Mf hine Fidelio Brewery. Fisk Rubber__ Fla P&L pf Ford Ltd b21.3, Froedt cv pf 1.20. Gen Firepr b Gen Invest Gen Tire & Rub . Gilb't ACpf 31, Glen AChi2%c.. Gorham Inc pf Gorh'm vte bise . Grand Natl Flms Grand Rap V (1) Grt A&PT 1stpf7 Greenfield T&D__ Gulf Oil (b50¢c) Hall Lamp (b20e) Hartman Tob_ Harvard Brew. Hat Corp B 80c_. Hazeltine b75c Hecla Min b45, Helena Rub' Hewitt Rub b50c_ Hollinger G t65¢- Horn & Hard t2 _ Horn&Hard pf 5_ Hud Bay M b75c_ Hunlble O11(135). Hygrade Food P Illinots lowa Pw. 11l fowa P d ctfs_ IH Jowa P pf 215 1llino1s Zine b25¢ Imp Ol Litd t50c. Imp Oil reg t50c_. Ind'n T 111 O(A) Ind Pipe L b3oc Ind Sve 6% pt Indus Fin 7% pf- Insof N Am t2_ Intl Hy E1 S pf_ Intl Pete (t134) Intl Radio b25c__. Intl Util (B) Intl Util war Interst P Del pf_. Inv Rovalty t6c__ Irving Air Ch (1) Ital Superpw A _ Jeannette Gl a60c Jonas&Nbg blsc.- Ken Rad A b3715¢ Kingston Pr 40c Kreuger Br (t1)_, Lake Shore (t4) Lakey Foundry Leh Coal&N 30c. Leonard Ofl _ Lion Ofl Ref (1) Locke St1 C t80c_. Lockheed Afr Lone Star G 80c.. Long Island Ltg_ Long I L vt B(6). Loudon Packing.. Loutsana Ld 40c_ Mangel Stores___ Marion Stm Sh__ May Hos pf ww 4 Mead John'n (13) Merritt Chap & S Merritt C&S of A Mex-Ohio Ofl Mich Bumper Mich Gas & Ofl_. Mid Sta Pet (A) Mid Sta P vte(B) Midwest Of1(t1) - Miss Riv F pf(6). Molybdenum Mount Prod(60c). Murry Ohio b60c. ser”No. 4 sold 5ot 1.23%2 "and O et ad '3 Doints net higher, And “the market ‘at 2 p.m. was holding around the best. » [N Nat Auto (bl).... direct to the Star. o1 daylight nE 400, High. Low. Close. 124 12% 124 $ 215 2m 2% 50s 7312 313 108 60 60 508 13915 13815 13814 508 11415 11414 1141 3508 1081 105'5 108 1 1 1 175 6 2 T 3 1 s 1 50s 19 10 10s 15 9 15 | 10s 1 § o o —roaDImmn— 119 19 19 1 284 28% 28y THE EVENING NEW YORK CURB MARKET 2:30 Stockand Sales— Dividend Rate. Add 00. Nat Bellas Hess_ Nat City L b25c_.. Nat Cont (b50c) .. Nat Fuel Gas (1). I\lt Mfg & Strs__ High. Low. Close. 1 1% 1% 154 15% 12 12% 15 15 8l 8y 64 64 12 12 Nat Service Nat Sugar N J(2) Nat Trans basc__ Nev-Calif Elec Nev-Cal El pf(7) New HavCl 1. NJ Zinc (t2) Niag Hud Fower. Nipissing(b2ic)_ Noma El (b40c) _. North Am L & P No Am Ray B b1_. Northn Euro Oil . NIPS6pfb2 Northern P L Tsc Nort States P A Ohio Br (B) b11; Ohio Edis pf (6) Okla Nat Gas ___ Oldetyme Dist _ Overseas Sec 60c. Pac GRE 1st 134 _ Pac Tin spe (12). Pantepec Oil Park Rg & R bi0c Pennroad ( Pa P&L pf (7) Pa Wat & P (4 Pepperell Mg 16 Phillips Pkg ailc Phoenix Secur _ Phoenix S pf A 3_ Pierce Gov b3ve . Pioneer Gold 40c_ Pitts Forging _ _ Pitts Metallur 1. Pitts P1 Gl(b23;) Towd'l1&Al b3ic. Premier G t12c Propper McC (d). Pub S Ind prpt__ Puget Sound P&L $5 pf b6 1 Pug Sd P&1 $6 pf Ry & Lt Secal Rainbow Lum A Rainbow Lum B_ Raymd Con (71) Raytheon Mf vte. Reed Roll B 180c_ Reiter Foster Reybarn (bloc) Rice Stix hise) _ Root Pet (b2ic)_. Rustless 1 & Stl__ Safety CH&L b4 1258 St Regis Paper 10 Samson United_ Savoy Oil Schiff Co (2) _ Scoyill Mfg (b1) Segal Lock & H__ Selected Indus Seton Leath ajoc. Seversky Alr_ Shattuck Den Sher-Will (14)_ Simmons H & P_. Singer Mfg Ltd rets (a2845c) . Solar M{g(b10c)_ Sonotone (al0c) Soss Mg (50c) So Pa Oil (1114) Soutl'd Roy Spencer C S bTjc_ Stand Dredging Stand Oil Ky t1 Stand Pwr & Lt__ Stand S& L (40). Starrett Corp vte Stein A&Copf 61, Sterchi Broasic_ Sterl Alum b25c . Sterling Inc t20c. Stutz Mot C (d) . Sunray Oil (bic) . Sunray Ocupf2 Sunyhine Min(3) Supenor Port C B Swiss Am El pf__ Taggart Corpn__ Taylor Dist 30c__ Technicolor a50c Tech Hughes 140¢ Texon Oil&L 6ic Tob&All Stks b1 Tob Prod Exp lic Trans-Lux 120c Transwest Oil Co Tri-Contl C war_. Tung-Sol Lamp._. Unexcelled Mfg__ Unit Gas Corp ___ Unit Gas war ___ Unit Gas pf b3% . Unit LL&P (A) . UnitL&PPLA Unit Prof § bloc_ Utd Shipyards A Utd Shipyds B U S Foil B (1) U S & Intl Sec & 247 101 170 & 247% 10% 508 258 P 6008 5 ftadiator S Rub Reclaim U S Stores Unt Ver Ex (b1) Unit Wall Pblic_ Univ Corp vte _ Util P&L pf (d) _. Util & Indus pf__ Valspar vte Valspar pf vte Venezuela Mex_. Venezuela Pet___ Walker Minmg _ Wayne Knit Mills W VaCoal & C Weyenburg b20c. Wool FW Ltd A (b33 9-10c) Wright Harg t40c Yukon Gold (b6c) Dividend rates n dollars based on ol puartly or semi-annual payment BUAl Talehot neliding sxiths, TAD: cumulated dividends a Pald last sear b Paid this year. d Companies reported as being {n bankruptcy or in recetvership. or belng Teorganized under” the" Bankraptey act. or securitles assumed by such com- anies. ] 57x 25, GAS BONDS OFFERED. PHILADELPHIA, July 1 (Special). —Chandler & Co, Inc, and G. L. Ohrstrom & Co., Inc, are today offering a new issue of $750,000 Ma- con Gas Co. first mortgage 4'; per cent bonds at 92 and accrued interest to yield about 3.27 per cent to ma- turity. The bonds, dated June 1, 1937, and due June 1, 1952, are secured by & direct first lien upon all property owned by the company. U. S. TREASURY NOTES. NEW YORK. July 1 @ —cprices auoted in dollars and thirty-seconds: % Month. Year 4 Sept. . 0828 1003 1003 FOREIGN MARKETS. LONDON July 1 (#.—Franc develop- mente aiverted iraders, atiomiion T the stock market today. ' Price movements were uneven in light turnover. Trans lantics recovered substantially. Oils, metais and gili-edged issues strengthened. There was little done in gold shares and Euro- Dean bonds were irregular. I8 —The Bourse resumed trading PAR] today following covernment suspension of Il French market dealings on Tuesday Prices advanced sharply ing. but most issues eased from the best in confused trading) Bank §f France closed %00 points net ‘higher. Toval Dutch was up 575 and Suez Oanal, U. S. TREASURY POSITION. By tle Assoctated P-ass. o(.v.lhe Treasury June 2 seal year (since July expenditures, ase Of 8 : wold assets, includ A B old, STAR; WASHINGTON EXCHANGE WEIGHS CHANGE IN FEES Pierce Committee Submits Plan Based on Value of Transactions. Bs the Associated Press. NEW YORK, July 1.—Citing an in- crease in brokerage costs and a re- duced volume of trading, a special committee of the New York Stock Ex- change recommended today an in- crease in brokers’ commission, basing the commission rate on the total value of a transaction in dollars, instead of on the value of shares. The Board of Governors of the ex- change referred the recommendation to its Law Committee. In submitting the recommendation, Edward A. Pierce, of the brokerage house of E. A. Pierce & Co., chairman of the committee, wrote: “There can be no doubt now that a broker's costs have increased heavily and much of the increase is quite be- yond his control—as for instance ex- pense incurred to meet direct require- ments of Federal and State govern- ments. When the 1936 cost of these requirements to one house alone ex- ceeds, as it does, $150,000, with the prospect of an increase in succeeding years under statutory requirements, the burden of the impost on commi: sion houses generally is impressive.” The proposed new commissions are: On transactions amounting to less than $100 the commission shall be 6 per cent of the amount involved, but not less than $1. On transactions amounting to $100 and not more than $1.000 the rate shall be $5 plus- 1 per cent of the amount involved. On transactions amounting to more than $1.000, the rate shall be $15 plus 1-10 of 1 per cent of the amount involved. The rate would be $6 for a $100 transaction, increasing $1 a hundred to $15 commission for a $1.000 trans- action. Starting at a $1,100 transac- tion the rate would be $16.10, with an increase of $.10 a hundred dollars to $17 for a $2.000 transaction—and s0 on up to a commission of $35 for a $20.000 transaction The present system, based on the value of the shares traded in, have a wide spread—such as 7', cents a share on shares selling from §1 to $10; 12°. cents from $10 to $25 and up to 30 cents from $200 to $250— while the new system eliminates this spread. For example, the commission on 100 | shares of Republic Steel selling around $35 would be $1850. Under the old system. with its rate of 15 cents a share between $25 and $50, the com- mission would have been only $15 Similar increases were proposed for bonds. TODAY'S PROGRAM | WRC—950k CAPITAL'S RADIO PROGRAM D. C., THURSDAY. 420 37% STOCK BOOM IN 3 MONTHS 1 TOCK MARKET CRASH IGH TARIFF BILL SIGNED S 1929 m- HIGHSPOTS AFFECTING z JULY 1, 1937 U.S. STOPS GOLD PAYME! 1'5 BANK HOLIDAY NRA LAUNCHED FINANCIAL INDUSTRIAL ACTIVITY PACIFIC COAST STRIKE TEXTILE STl!KEI AUTO OUTPUT \ DROUGHT 1935 Saturday Closing Approved by Board Of Stock Exchange By ine Assoctated Press. NEW YORK, July 1.—The Board of Governors of the New York Stock Exchange ruled today the market would be closed on Saturday, July 3. The ruling was made in response to a petition by members. The ex- change will also be closed Monday, July 5, in observance of the Independ- ence day holiday. The New York Curb Exchange fol- lowed immediately with an announce- ment that its facilities would also be closed Saturday and Monday. PARIS BANK CHANGES. PARIS July | o —The Bank of France statement for the week ended June millions of francs) Gold reserve Sight balances phroad 54.85 France advances y to (prior to June advances tsince June ‘o I 41400 s against secu- — Circulation ~ 18T Total credit | accounts —714 ! Thirty-day adv s | Agalnst T securities Rate of discount, 6 per cent iUnchanged. to current —63 | LONDON BANK REPORT. nLONDON The Bank of the week ended pounds) July s of TRy TR0 687 rr irities 14060 1 cent, compy :u»r cent. PHILADELPHIA PRODUCE PHILADELPHIA Juis —Live poultry. fowls. fancs ih R a3 I h Rocks. Dressed, poul try- xes. 18 July 1, 1937 _ WOL-1310k | WJSV—1460k 500 SBC. Light Opera Pepper Young 2:15 Ma Perkins Vic and Sade The ONiells Wakemen's Sports Concert Hall “ Alex Bartha's Or. orenzo Jones race Shannon Follow the Guiding Light Moon Al Jahn's Orch. Texas Jim Lewis Bob Byron News Bulletins Noveletcers U. S. Army Band eman's_Sports 2 00/ Lucille & Lanny : 15| Stuart Grocery 0/ The Singing Lady 4 5{ Educaticn Assn. Archer Gibson Back the Clock |Don Winslow Little > Orphan An man's Sports Senate Questions 5 | Education Assn, | Patti Chapin nie Toda Dorothy Goudon Winners 5 00, Eve. Ster Flashes 5 Tenms Finals S 30 Tea Tire 5:45 Lowell Thomas Sundown Revue News—Music Chasing the To be announced |Black and White Blues! “Betty Hudson ‘F\enmg Rhythms Howard Wood s 0. News—Scores | Jamboree | Cocktail Capers 6:00 Easy Aces 6:15 To be announced 6:30 News Eulletins 6:45 Dinner Hour Amos 'r’ Andy Vocal Varieties Stump-Us Boys Question Mark | Wakeman's Sports ' Poetic Melodies Five Star Final Arch M:Donald Nye Mayhew's Or. A. Woollcott 'Melody “Moments |H. V. Kaltenkorn 00 Roy Shi=ids 5 Encore Muse ‘Dommmn Day \'nl]ee News—Music Victor Boy's Or. | Dinner Concert | Diminion Day JUMP REVEALED INRAIL INGOMES Operating Nets Advance to $237,645,050 Level in Five Months. Class 1 railroads of the United States in the first five months of 1937 had a net railway operating income of $237,645,050, which was at the annual rate of return of 273 per cent on their property investment, accord- ing to reports just filed by the c riers with the Bureau of Railway Economics of the Association of Amer- ican Railroads and made public to- day. In the first five months of 1936 the net milway operat income $187,773,850, or 2.17 per cent on th property investment, and in the fi five months of 1930 their net way operating income was $301 780, or 351 per cent on property investment. Property investment is the value of g | road and equipment as snown by the books of the railways, including ma- terials, supplies and cash. The net railway operating income is what 1s left after the payment of operating expenses, taxes and equipment rent- als but before interest and other fived charges are paid This compilation for the first based on reports from railroads representing 236,040 mil Gross operating rever the first five months of 1937 totaled $1.- 611,207 compared with $1.542,039.- 671 for the same period in 1936 and $2218.877,128 for the same period in 1930, an increase of 126 per cent 1937 above 1936, but 218 per cen: below 1930. Operating expenses for the first five months of 1937 amounted to $1.293397.787 compared with $I.- 179,41 16 for the same period in 1936 and $1.717.945937 for the same period in 1930. Operating expenses for the first five months of 1937 were 9.7 per cent greater than in the same period of 1936, but 24.7 per cent below 1930. Ciass I railroads in the fi five months of 1937 paid $150.341,481 in taxes compared with $122000.354 in the same period in 1936. and $146.- 785356 in the same period in 1930 For the month of May alone, the tax bill of the Class I railroads amounted to $30.689.189 an increase of $3,246.- 246 or 11.8 per cent above May, 1936 Twenty-one Class I railroads fatled to earn expenses and taxes in the first five months of 19: of which six were in the Eastern district. two in the Southern district, and 13 in the Western district Class I railroads for the month of May alone had a net railway operating income of $43.662.959, which, for that month, was at the annual rate of return of 221 per cent on their property investment. In May 1936, their net railway operating income was $41.797,047 or 2.13 per cent on in- vestment, and in May, 1930, was $67- 790,336 or 3.41 per cent return on investment. as to earnings five months of 1937 is 138 Class I a total s for Rodrigo's Or. Por\ Concm Joe Sanders™ Orch.|} Olympian Orch. Brusilofi’s Orch, 00 Pop Concert :15 9:30 Dixie Harmonies 9:45 Piccadi'ly Music |Witch's Tale [Floyd Gibbom Concert Favorites March of Time Art Brewn b 70:00 C. Molina's Orch. |News—Music 10:15 King's Jesters ' Supper Dance 10:30 Pete Macias’ Or. Northern Lights 1045, G Wrestling Bouts | Haenchen Orch. i |Red No-vo's Orch. Robert Horton Al Trace’s Orch. 11300 News Eulleting Bl Coyle 11:15 Slumber Hour ‘/\r(hur Reilly | Midnight Frolic News Hap Felton's Or. | Eddy Dichin's Or, al |Moon .| Frank Dailey Orch. Watchman |Sign O 1:00|Night Watch (1 hr.) Lights Out TOMORROW’S PROGRAM Gordon, Hittenmark| Chas. Gaylord Or. | Joe Sanders’ Or. The Witching Hour News Bulletins Sign Off News—S5un Dial Sun Dial lorning Devotions/ oday's Prelude Musical Clock —'Sun Dial News—Art Art Brown Brown News—Hittenmark Gordon Hittenmark Sun Dial Godfrey and Salt Bacheloi's Children Art Brown |News—Art _Brown Mary Marlin Ma Perkins News Bulletins {The Picnic Basket Mrs, Wiggs +un Plain Bill oday's _Childre, John's Other Wi Art Brcwn Choir Loft Marriage Clinic News—Police Betty aud Bob Betty Crocker Modern Cinderella John K. Watkins ife, The O'Neills Personal Column 0|Vic and Sade |Edward MacHugh David Harum Backstage Wife To Be Charming Rhythm Parade Get Thin to Music! Piano Capers Martha and Hal Rhythu Orch. Air Magazine Big Sister Dr. A. R. Dafoe |UC_S. Marine Band|Myriad Voices G Mary Marlin The Cadets Better Business Love and Learn News Bulletins Farm & Home Hr. News—Music Words and Musi Dan Haiding’s Wife| The Gumps Your News Parade Helen Trent Our Gal Sunday Mornmg Concert Len Salva Theater Row We Are Four Luncheon Concert o FOREIGN EXCHANGES, NEW YORK. July 1_(P i Foreign ex- en 210 Swi Portugal 430 G | Czechosiovakia inMontreal. 1001800, 1886 51st Year 0Old-Age Tax Records CKETT- STO e PRODUCING STATIONERS ODIDE ST- ‘N -W of Progress E’Ack Berch's Boys retty Kitty Kelly Robert Horton Real Life Stories News Bulletins _ ic |Dance Music Farm & Home Hr. Caballeios |Piano_Recital Opera from London Medieval Rac Matinee Mary Mason Pepper Young Ma Perkins Vic and Sade The O'Neills Barrie Memorial Dance Music Louise Wilcher Quiet Harmonies Afternoon Rhythms Herbert Foote Bill Tilden Myrt and Mary Wakeman's Sports | Matinee Ray Keating's Or. Do You Remember? Race Piogram [Barnie Memorial | Lorenzo_Jones e B Grace Shannon Club Matinee Follow the Moo The Guiding Light Wakeman's Sports News—Music Wakeman's Sports Al Jahn's Orch. Among _Souvenirs n Bon Voyage | Clyde Barrie Mary Marlin Escorts and Betty| The Singing Lady EveningStarFlashes Archer Gibson Back the Clock Don Winslow Little Orphan Annie Wakeman's Sports | Senate Questions Eton Boys Today's Winners _[Dorothy Gordon NEW YORK BAR SILVER. NEW YORK, July 1 (#).—Bar silver steady and unchanged, at 44%. Harry Kogen's Or. Peoples Grand Circuit Track and Field News—Music Mandate s Time Lmll ‘Thomas | Thomas E. Lodge Monsdi Ry Science Conv, New res Even'ing Rhythms Cocktail Capers Black and White Irving Conn's Or. RELIABLE OFFICERS of | | INVESTING COMPANIES NEW YORK. July 1 (P —New York Security Dealers' "Association (Noon quotations.) Admin Fd © m Business Am Gen Eq Inc Am Ins “Stocks B Bas Broad St 10, feeders weak to mediu; &rass nexh" £.400 di bs 11.000 les 'Sy ts stronger 1100 doubl 0DD-LOT DEALINGS. By the Associated Press The Securities Commission reported to- Y these ocd-lot ‘tranzactions by dealers York Stock to, PROPERTY MA A for the d| T SNAILIIISE IN NRA INVAIUDAYEU “BREATHING SPELL" coLo ILO$ DEVALUED ROOSEVELT RE-ELECTED | SECURITY ACT UPHELD STEEL STRIXES -+ AUTO STRIKES SURPLUS PROFITS TAX PASSED AAA INVA'UDAT[D 1936 1937 Steel Ingot Rate Climbs Sharpl_v to 77 Per Cent Mark E3 the Assoctated Press. CLEVELAND, Ohio, July 1.—Dai{ Metal Trade today says: Resumption of operations Youngstown District Steel closed during the strike, boosted the national sharply. At mid-week the operation index is estimated at 77 per cent of capacity, an icrease of 3 points compared with last mid-week Crippling of the Johnstown, Pa, plant of the Bethlehem Steel Co. by amiting of water lines into tna s forced curtailment of about 2 points from the rate in effect earlier a Works this weel ingot rate pension at an important Pi burgh district steel works also was a factor in hoiding the increase in production to 3 points. Indications rate over the next few days se several additional points since plant resumptions on a large scale are scheduled in the Chicago district, Demand for finished steel on old cone tracts is well maintained. New business, however, is declining noe ticeably with consumption tapering in various directions. INSURANCE STOCKS NEW YORK. Julv 1 . —New York Ses Fity Dealers Association Asked. a 85 US Fire ( Westchester (1.20a) or extras. clared or paid so far this year, RUBBER FUTURES. Money for Construction Loans and Existing Properties 5% FIRST DEED OF TRUST ONLY GEORGEI. BORGER 643 Indiana Ave. N.W. Nat’l 0350 Loans AGEMENT SUGGESTION investment of July divi- dend money—IN OUR FIRST MORTGAGES —The interest rate is definitely fixed covering the entire term of Over Forty Years of Experience First Mortgage Investments M ORTG A G E the trust. And the principal is protected by improved real estate. B. F. SAUL CO. REAL ESTATE National 2100 925 15th St. N.W. L QAR NS REAL ESTATE LOANS On Improved property in D. C. and Arlington County, Va. NO COMMISSIONS RENEWALS UNNECESSARY A on improved pplications invited for LOANS real estate in Washing- ton and Arlington County, Virginia. Rates and terms commensurate with security offered. Before you re- finance, build or remodel—See us. CHARLES KATTELMANN, VICE PRESIDENT WILFRED H. BLANZ, SECRETARY GUY M. NEELY, TREASURER The American has been helping the people of Washington to aequire homes for the past 63 years. American Building Assoriation ASSETS 300 Pennsylvania Ave. S. E. OVER $9,700,000 ER U. 8. GO' SUPERVISION