Evening Star Newspaper, July 1, 1937, Page 16

A—16 ¥# THE EVENING STAR, WASHINGTON, D. C. FINANCIAL MIDYEAR | 193 SECURITIES FAR BELOW PEAKS OF LONG RISE AT » TOTAL STOCK SALES Stocks and dividends $he first six months of 1937. Alleghany & West (6) Allen Indust (1) Certain-teed Prod pf__ amp P&F (1) - of 1937, sec o rity e ——— £l Half year's Net Half yeer's Stocks and dividends Net | Half year's Stocks and dividends Net ¢ B PO le in dollars, High. Low. Last. chse.| aales. in dollars, High. Low. Last. chge.| sales. in dollars. High. Low. Last. chge. anuary 1, 1937, to date - 878, 1,495,100 Callahan Zinc.___ - 6% 2% 3 + 17,660 Fairbanks Copf________" 28 22 + % 6,700 Lane Bryant (bs0c)._. 1% 12% 121 — 2% | Year ago 261,719,970 901,600 Calumet & H (b75c) ___. 204 12 131 — 214 70,200 Fairbanks-Morse (1) _. 71% 5215 ~1T% 182,800 Lee Rubber (b1)_ L 2T 1T 24% + 6% Two years ago 127,444,145 86,200 Campbell W& CF (t1)_. 3Th 24 24 =9 2,000 Fairbanks-Morse pf (6). 210% 50 —60% 75,500 Lehigh Port Cem (1%4)_._51% 32 3213 — 7 | 2 674,400 Canada D G Ale 247% = 374 83,600 Fajardo Sugar (b2)_____ 70 491 =11 2,140 Lehigh Port C pf (4) 03 160 194 4381 By the Associated Press. . 340 Canada South (3)_. 61 558 = 103,400 Federal Lt & Trac - 29% -9 182,900 Lehigh Valley Coal _ 3% 1% 2 - Y NEW YORK, July 1.--Following is a table of trans- 920,30 Canadian Pacific__. 17'% - 1,750 Federal Lt & Tr pf (6) __ 103 5 =12 80,100 Lehigh Valley Coal p 181 8% 8% — Tla * | actions in stocks on the New York Stock Exchange during 12,700 ®:annon Mills (b1) 6115 11,800 Fed Min & Smelt. ____ 150 +52 857.200 Lehigh Valley R 1R 24% 13 14— 4% . first half y 1937, It give early sales, price ranges 27,100 Cap Adm A (b50c) _ 181 6,800 Fed Min & Sm pf (7) __. 129 -11 00 Lehman Corp (11) 4315 36 38% y |the first half year . It gives yearly sales, p 1,840 Capital Admin pf A (3)_. 52% 215,700 Fed Motor Truck (40c)_. 11% P = 2% 00 Lehn & Fink (b 21% 15 15 - 34 | and net changes from the previous January 1, 1937, on 330 Carolina C&O (4) - 170,800 Fed Screw Wor 114 + 33,200 Lerner Stores ( 58y 41 41 —18% I ] | stocks listed prior to July 1, 1936. 1,100 Carolina C & O stpd (5)_ 106 144,600 ¥ed Water Sve A 6 -1 174,700 -0-F G (b75c) 79 59% 60 —10m | Ha'f year's Stocks and dividends Net 2,200 Carpenter S (b1.35) 35% 25,300 }ederated Dept St 433 - 9% 300,500 & T (a1) ; 9% + 2 sales. in dollars. High. Low. Last. chge. 166,800 Carriers & G (b10c) 91y 15,700 Federated D S pf (415) . 1087% -12 17,400 S (11.50) 7,200 Abbott Lab ( 11.60) _____ 55 4415 45 81,800 Case (J I) Co (4) 17645 64,600 Fidel-Ph ifire In(11.60)_ 45% -1 12400 Lixgelt & Myers (14) 360 Abram & Strauss (b1)__. 69 58 60 — 6 3,150 110 Filene's Sons (h70c)____ 39% 39 — 1 119,700 Ligg & Myers B (14) 46,700 Acme Steel (4) __ 8415 63% 6714 + 4 97,800 207,000 Firestone Tire (2) __ __ 41% 32 = 2% 5,800 Ligg & Myers pf (1) __ | —_— H. her F m d U ban :x'; 000 Adams !-)leu'eub(h c g:h ég és'r +1 15,400 Firestone Tire pf A (6)- l 133%38 :1:1\ 1lulm “l\xfll%) F nch Cr, i Labor St .fe .100 Adams Millis (b1) __ % 22 22% — 2% 56,600 First Nat Strs (12 3 ma Locomotive g a an r 44,300 Addressograph (b60c).. 36 28 28% — T 255,900 Flintkote (1) ¢ 32}33 Link Belt (t2) 5 [Z0E 5155 rl i 54,600 Advance Rumley 4% 2 2y—1 Celotex Corp (b40¢) 17,700 Florence Stove (bi) ,100 Liquid Carb (2.60) i Buying Power Spurs Air Reduction (1)- 80 641 691 — 815 Celotex pf (5) 8214 4,400 Florsheim A (2) 4TAD Loews Ine (12) and Summer Slackening Air-Way Elec Appl 54 2% 2% — 1% Cent Aguir A (f11%) 39% 157,500 Follansbee Bros (d) :200 Loew's Inc pf (6%)-. Broad Demand. Ala & Vicksburg (6)_-_~ 100 97 97 — b Central Foundry 125 39,500 Food Mchy (1) 514,500 Loft Inc Depress Markets. Alaska Jun (160c) 1% 11 11% — 3y Central 11 Lt pf (43)__. 107% 2,760 Food Mchy pf (414) 214,800 Lone Star Cem (3)__ eI Alleghany Corp _ 5t 2% 215 — 15 Cent R R of N J oAl 157 600 Foster-Wheeler 261,100 Long-Bell Lumb A x BY THOMAS E. FLANAGAN, Alleghany pf w $30 war. 5;*. :‘x:-, :}gv. —‘gm Cent Violeta Sugar ____ z:*. Foster-Wheeler pf ZTJ‘_':; ;nmw-t\llw :m 2 BY FREDERICK GARDNER, & v Alleghany pf w $40 war. 5 B 35 - Century Rib M (b20c) 14% Francisc 370 Loose-Wiles Bis pf (5 5 ss Financta! Writer. Asioolaied EressiPinanoiatiWriter Aleghany pf x war-. 5 — 4 Century R M pf (7). 115 Franklin $ pf (a3% Lorillard (P) (11.20)___ LuagAt s T P xase Wany NEW YORK, July 1.—Trade and Alleghany pr pf -6 Cerro de Pasco (4) 86 Freeport Sulph (1) Lorillard (') pf (7) NEW YORK, July 1.-—After a fndustry rolled along at a brisk clip in Allegheny Stl (b80c = Certain-teed Prod 23% Freeport Sul pf (6)_ 53 000 Louisy G & ¥ (h3714¢) __ swing to the bear side in the first half Pace-setter was the steel industry, speeding up to the highest peace- time top on record. This energy, business observers said, reflected the underlying momentum of recovery. It owed its strength to higher farm and industrial purchasing power. It sluiced its fuel in through the chan-' nels of expanding production of elec- tric power, motors and a host of other manufactured products. And it bore witness to long-deferred demand for durable goods and to freer consumer spending born of increased confidence. Many Obstacles Faced. Progress during the first half of the period was scored despitesfloods in the Ohio River basin and strikes in the motor and other industries. During the second half, spreading of boom psyehology was checked by declining commodity prices and by strikes ir the steel industry, paralyzing so-called indenendent companies. Although strikes cut the weekly output, most consumers were well stocked with steel. The decline in commodity prices was welcomed in most business circles. It reflected an attack of speculative indigestion, most acutely felt in London. Soaring commodity prices in the first part of the year had given busi- ness men cause for concern. As quo- tations climbed, prices of various man- ufactured finished goods were marked up—notably shoes, clothing and auto- mobile tires. This trend, it was feared, imduce consumer resistance oontinued. But wages of industrial workers and the cash return to farmers were higher and apparently able to offset in many instances the burden of higher retail prices. Retail Sales Jump. For the six months just closed getail chain and department stores reported sales well ahead of 1936 in both volume and dollars. The turn- over after Easter was regarded as disappointing, but post-Decoration day sales jumped smartly. That the public was in a buying mood was shown by the spurt of motor sales to record highs as the selling season got under way. Industrial statistics made cheerful reading during the period. Steel op- rrations ran up to the Spring peak vf 923 per cent of capacity in the week of April 17. Motor output hit a high of around 142,000 units in the week of May 15, then slackened with the approach of Summer. Electric power production held well above the 2,000,000,000 kliowatt-hour weekly mark throughout the period, but the margin of gain over 1936 was reduced during the Spring. Freight carloadings pushed up to saround 800,000 cars a week and gave promise of a Fall high of approx- imately 900,000, traffic experts said. More Houses Built. ‘The piling up of orders along the manufacturing and industrial front, together with the accumulation of improved profits, spurred construction. Of prime importance, experts said, was the faster movement of private dol- Jers into engineering construction projects. The pulse of home building quick- ened, absorbing workers and raw ma- terials. High hopes had been pinned on this field, a laggard in the recovery march. Signs of revival brought pre- dictions of a major contribution to general business. But residential building in the Bpring fell short of estimates, per- haps because of higher building ma- terial costs and wages. BY-PRODUCTS AID would if long Allied Chemical (6) Allied Mills (b2) Allied Stores (b20c) Allied Stores pf (5) Allis-Chalmers (b1) Alpha Portland (1) Amalg Leather ‘Amals Leather pf (3). Amerada Corp (2) _ Am Az Chem Del(b215)_ Am Bank Note (11) Am Bank Note pf (3) __ Am Brake Shoe (b114)_ Am Brake Shpf (5%4) AmCan (74) __ Am Canpf (7) ___ Am Car & F (h25c) ____ Am Car & F pf (b4) Am Chain & Ca (b1) Am Chain & Ca pf (3) Am Chicle (14) Am (oal of Alleg Am Colortype Am Comel Ale (a30c) 2 Am Crystal Sug (b 160,500 134,500 147,000 Am Express (6) Am & Foreign Pow Am & Am & For Pw § Am & For P'w 2 Am Hawaiian (1) __ Am Hide & Leather Am Hide & Lea pf (3) Am Home Prod (12.40) Am Ice e & Am Ice pf (2) e Am Internatl (a40c)” Am Locomotive Am Locomotive pf (a3)- Am Mch & Fd (1) Am Mach & M (60¢) Am Am Am Am Am Am Am Am Am Metal (b23c) - Metals pf (6)_. News N Y (3) Power & Lt Pow & Lt §3 pf (3)_ Pow & Lt $6 pf (6) Radiator (160c) Radiator pf (7 Roll Mill (2) 28,210 634,100 10,600 14,500 1,000 Am Shipbldg (2 Am Smelting & Ref Am§ Am Snuff pf (6)_ Am Steel Found (b1) Am Steel Fd pf (7)_ Am Stores (b13 Am Sugar Ref ‘Am Sugar Ref pf (7)_ Xm Sumat Tob (t1) Am Tel & Tel (9)_ Am Tobacco (5) Am Tobacco B (5) Am Tobacco pf (6) Am Type Founders _ Am Water Wks (80c) Am Water W 1st pf (6)- Am Woolen___ Am Woolen pf ( Am Zine ‘Am Zinc & Lead pf_. Am Zinc or pf (5) Anaconda Cop (b7sc) _ Anaconda Wire (b113) Anchor Cap (60c) Anchor Cap pf (612)_ Andes Copper- APIW Paper. .-~ L Archer-Daniels-M (12)_ Archer-Dan-M pf (7 Arm of Del pf (7) Armour of 111 (h35¢) _ Armour 11 pf (7)__ Armour 111 pr pf (6)_ Armstrong C Arnold Con (b Artloom Artloom pf (h332) Assoc Dry Goods Asso Dry G 1st pf (6) Asso DG 2d pf (b313)_ Asso Investment (3 Asso Invest pf ww (5) Assoc Inv pf xw Atch T &S Fe (b2) _ __ Atch Top & S Fe pf (5 Atlantic Coast L (al) Atlantic G & W1 __ Atlantic GRWI pf (as) Atlantic Refin Atlantic Ref pf A (4) Atlas Corp (80c) Atlas Corp pf (3 ‘Atlas Powder (b114)_ Atlas Powder pf (5) Atlas Tack (1) Auburn Auto Austin Nichols Austin Nich pf A (+1)_ Aviation Corp of Del 34,700 480 100 Baldwin Loco (d) 25,200 Baldwin pf (d) ___. 326,000 Baldwin ass'd (d) NATIONAL DAIRY Comprise Nearly 15 Per Cent of Firm's Dollar Volume, Accord- ing to McInnerney. Bpecial Dispatch to The Star. NEW YORK, July 1.—Milk by- products and non-milk products com- prise nearly 15 per cent of National Dairy's total dollar sales, compared with but 9 per cent in 1930, Thomas H. McInnerney, president of National Dairy Products Corp., stated today. He added that from 1930 to 1936 by-product sales increased 45 per cent end that sales of products not pro- duced from milk were up 35 per cent. His statement, in the form of a let- der to the company's stockholders, is the first summary ever made showing the aggregate importance of National Dairy’s milk powder, evaporated milk, ealad products, canned eggs, casein, whey powder and other by-product operations. He emphasized the threefold in- erease in the industry’s production of #kim-milk products since 1920 as con- crete evidence of the steadily increas- ing industrial market for farm milk production. Skim milk and whey powders, including various types of buttermilks, casein and lactates, are pow used by food-processing industries, animal-feed manufacturers, pharma- ceutical and chemical industries and In plastic manufacture. WHOLESALE COMMODITY INDEX MOVES HIGHER By the Associated Press. The National Fertilizer Association's wholesale commodity price index ad- vanced 1.2 per cent during the week ended June 26, standing at 87.4 per eent of the 1926-1928 average. This compared with 88 a month ago and 77.4 a year ago. ‘The association said higher prices for foods and farm products largely ‘were Tesponsible for the upturn last weelkt, with little change recorded for tndustrial commodities. 4 4 20,600 Baldwin pf ass'd (d)_. 1,600,000 Balto & Ohio__ 190,900 Balto & Ohio p 13,000 Bangor & Aroos (23:)_ 4,360 Bang & Aroos pf (5)_. 1,400 Barber Co (b25c) 55,300 Barker Bro 8,150 Barker Bros pf (2 929,600 Barnsdall Oil (1) 79,200 Bayuk Cigar (175¢ 520 Bayuk 1st pf (7) 35,800 Beatrice Cream (11 6,400 Beatrice Cr pf ww (5)_ 530 Beech Creek RR (2)_ 750 Beech-Nut Pack (14) 101,900 Belding-Hem (1) 1,000 Belgian N R pf (3.24)_ 343,700 Bendix Aviation (b5 101,400 Beneficial Ind L (b95¢) 300 Best & Co (213) 000 Bethlehem Sti (b1) "52,700 Bethlehem 5 % pt (1) 28,000 Bethlehem 7% pf (7) 20,100 Bigelow-Sanford(b1%). 64,900 Black & Decker (1) 340,700 Blaw-Knox (b45¢) - 940 Bloomingdale (b85¢) 840 Blumenthal pf (a21) 523,100 Boeing Airplane___ 72,300 Bohn Alum & Br (3)._. 4,670 Bon Ami A (4) 6,360 Bon Ami B (234 )_. 337,400 Borden Co (1.60) - 144,000 Borg-Warner (2) 76,000 Boston & Maine _ 30,000 Botany Con M A ( 573:900 Bridgeport Brass (1). 268,200 Briggs Mfg (b13) 23,600 Briggs & Strat (3) 21,300 Bristol-Myers (12.40)__. 248,100 Bklyn-Man Tran(b2%)_. 23,300 Bklyn-Man Tr pt (6) 183,000, Bklyn & Queens _ 23,400'BKlyn & Queens pf_____. 62,700 Bklyn Union Gas(1.60) 10,000 Brown Shoe (3) __ 125,800 Bruns-Balke-Col_ 254,800 Bucyrus-Erie__ 1,980 Bucyrus-Erie pf (7) 643,100 Budd (E G) Mfg-. 5,800 Budd (EG) pf_ 393,500 Budd Wheel (b20c) 66,300 Bullard Co (b50c) . 164,400 Bulova Watch (t4) 183,000 Burr Add M (80c) - 125100 Bush Terminal _ 20,400 Bush Terminal deb. 16,020 Bush T B pf cod 58,500 Butler Bros (60c) 14,500 Butler Bros pf (113) 523,500 Butte Cop & Z (a5c) .. 273,700 Byers (A M)___ 11,480 Ryers (A M) pt 92,700 Byron Jackson (11)_ —_— 72,600 Calif Pack (13%)_______ 2,000 Calif Packing pf (l%).- c) 9301 23% 628 105% 20 129% 69% 38 29% el @ Tl e e 50 O 8 10 ~ 31 185 +107 500 + T8 528 * 58 8% 6% + 54 -6 5% 5% — 1% 4% 47— 4% 7 70 -20% 4% 4, — 31 7313 T4l; —15% +5 - 5% ) + 1% 100% 103 — 6% 27% 28 — 9% 22" 24 -3 34 35 2315 241 - 8 13% 14 = 4% 11 111 -1 21% 23 - 2% S + % - 11 — 1% + 23 18% 183 — Tig 20% 20% — 2 4713 50 —-10 73 84 + 8% 17 1% = 1% 108 114% —131% 51% 51l —13% 24 25% — 8% 22 23% — 1% 22 24 - b% 79 -13% 2% 21 23% 3 38% 44 8% MU+ % 1% 1% = 1% 15 16% = % 39% 39% — 4% 1815 20% —31% 65% 68% —33% 28% 29 -1 4% 5 = 1 17% 19 = 9y 673% 681 ~19% 26% 26 ~1% 35% 36 = 50 504 amp P & F pf (6) Checker Cab Mfg___ Chesapeake Corp (3)_ Ches & Ohio (12.80) _. Ches & Ohio pf A (4)_ Chi & Fast 111 (d) Chi & East 111 pf (d) Chi Gt Western (d)_ Chi Gt West pf (d)_ Chi Ind & L pf () Chi Mail Order (11 Chi MStP &P (d) 419,100 Chi M St P & I’ pf (d) 821,000 Chi & N W (d) 70,200 Chi& N W pf (d) - 154,800 Chi Pneumatic Tool .. *hi Pneu Tool pf (3) - 181,400 Chi R 1& Pac (d) A 90,800 Chi R1& Pac 6% pf(d)_ hi RT& Pac 7% pl(d). Chi Yellow Cab (2) Chick Cotton Oil . Childs Co Chile Copper (b75c)____ Chrysler (b31,) Cinn Sand & Cleve pf (3) City Ice & F (2) S als A City Ice & Fpf (6%3) __. 92 80 120 City Invest (b2) 70 60 107,600 City Stores 10% 81,000 Clark Equip (11.60) 401 32 Clev C C& St L pf (5) 98 Cleve Elee 11 pf (413)__ ‘leve Gr Brz (b1)__ Clev & Pitts (313) Clev & Pitts spec (2)_. Cluett Pea (b2ic) Cluett Peabody pf (1) Coca-Cola (12) Coca-Cola pf A (3) 0 Colgate-P-Peet (150c)__ Colgate-P-P pf (6) Collins & Alkman (12)__ Collins & Afk pf (5) Colonial Beacon Colo Fuel & Ir (b1) Colo & Southern Colo South 1s Colo Southern 2d pf Columbia G & E (40¢) Columbia G&E pf A(6 Col G & K pf (5) Colum Pic vte (1) Colum Pic pf (2% ) Colum Carb vte (14)- Comel Credit (14) Comel Credit pf (43 Comel Inv Tr (14) Comel Inv Tr pf (414)_ Comel Solv (160¢) Comwl & South Comwl & South pf (3) Conde Nast Pub _ 10,600 149,400 Congoleum-N (2) Congress Cigar (a2) 19% ConnR & Lpf__ 22 Consol Cigar 187 9 0 Consol Cigar pf (7). 87 80 Consol Cig prpf ww 613. 95 3 Consol Cig pf xw (613) Consol Edison (2) _ Consol Edison pf (5)_ Consol Film Ind Consol Film pf (a2 “onsol Laundries Consol Oil (180¢)_ Consol Oil pf (5)__ Consol R R Cuba pf. Consol Textile (4) Consol Col vtc Consol Coal pf vtc Container Corp (1.20) Contl Baking A_ Contl Baking B _ Contl Baking pf (8) Contl Can (3) 2 Contl Diamond F (2)___. Contl Insurance(11.60)_ Contl Motors ___ Contl Oil of Del (11)_. Contl Steel (1) _ Corn Exch Bank (3 Corn Prod Ref (13) _ Corn Prod Ref pf (7). Coty Inc __ Crane Co.__ Crane Co cv pf (5) Crane Co pf (7) Cream of Wheat (2) Crosley Radio (a11¢) Crown Cork & S (2) Crown Cork pf ww 2% Crown Cork pf xw 21 _ Crown Zellerback Crown Zell cu pf (5) Crucible Steel______ Crucible Steel pf (315 Cuba Co __ Cuba RR pf_ Cuban-Amer Sugar Cuban-Am Sug pf b7%_ dahy Pack (212) - Curtis Publishing Curtis Pub pf (7) Curtiss-Wright ~__ Curtiss-Wright A a50c__ Cushman Sons pf (31%) Cushman Sons pf _. 20,000 Cutler-Ham (bl)- 562,800 250,800 492,000 495,100 105,100 23,300 Davega Stores (t1) 18% 127% 1314 = 3% 21,100 Davega cum pf (1%4) 24 19 198 3,190 Dayton P & L pf (4%)--. 109 99% 9913 — 8% 189,100 Deere & Co. 1371% 104% 129 +21% 34,400 Deere & Co pf (1.40) 81% 2% 27 - 2 38,800 Deisel Wem-Gill (1) 29 17% 1815 —10% 355,100 Delaware & Hudson. 33 36 = 1% 551.300 Del Lack & West__ 13% 15% — 2% 49,900 Denver & RG W pf (d)-. 10% 4 4 = 3% 17,500 Detroit Edison (14) 146% 110% 111 -36 4,260 Detroit & Mackinac. 22 9% 186 + 6 1,150 Det & Mackinac pf_ 30 20 20% = % 13,000 Devoe & Ray A (13)_. T6% 5915 59 = 2% 49,500 Diamond Match (1) __. 56'2 26 267 — 5% 10,400 Diamond Mth pf (t1%)_ Diamond T Motor (1) __ Distillers Cp Seag Ltd_. Distill Seag pf ww (5)_ Dixie-Vortex (1%) Dixie-Vortex A (2%3) Doeh Die Cast (2) Dome Mines (12)-. 31,400 Dominfon Stores_ 585,040 Douglas Aircraft _ 4 '500 Dow Chemical (13) 159% 129 135 Dresser Mg A (a3) 55 4B% 47% — 21 Dresser Mfg B (al) 39% 241 254 —10% Duluth § S & Atl % % %= % Duluth S 8 & Atl p! 3 1% 1%- 1% Dunhill Internatl 8% 3% 375 — 3% 1% 14% 16 + % 2! 122 112 112 -8 216,100 Du Pont de N (b2%)____ 180% 148% 153 ~20 12:100 Du Pont deb (6) 135% 130% 130% — 4% 2,230 Duquesne Lt 1st pf(5)__ 115% 110% 114 —_— 197,900 Eastern Rolling Milla__. 17 9% 10% — 114 62,500 Eastman Kodak (8) ____. 176% 151 17215 = 24 2,260 Eastman Kodak pt (6)-- 163 150 152 —11% 100,800 Eaton Mg (2) 2381200 Eitingon-Schild Elec Auto-Lite ( 281,800 502,900 Elec Boat (a60c) __ 16 9% 9% — 28 Elec & Music Ind(al8¢c). 7% 4% 4% — % Elec Pow & Lt___ 26% 14% 17% — 6% Elec Pow & Lt $6 pt. 87 58% 6274 —21% 0 Elec Pow & Lt $7 p! 92% 62 65% —24% Elec Stor Bat (2) 44'% 32 34% — 9% Elk Horn Coal (d)_. 2 1 1% - 4% Elk Horn Coal pf (d)__.. 8 3 3% = 1% El Paso Nat Gas (1.60).. 29 21% 23% — 3% Endicott-Johnson (3) ... 60 56 56 — 2 Endicott-John pt (5)---. 1156% 105% 108% — 415 Engineers Pub Sve __. 17% 8 8l = 7Y Eng Pub Sve $5 pf (bB) . T8% 59 b59% -12 Eng Pub Sve pf ww 5% _. 81 63% 63% —16Y% Sng Pub S $6 pf (b41s) 8% 72 72 -9 Equitable Off Bldg O 4% 4N — 4% 0 Erie & Pittsburgh (3% ). 80 T5% 5% + Th 362,100 Erie RR___ 150 000 Erie R R 1st pf_ - 6% 00 Erie R R 2d pf 16 -6 48 300 Eureka Vac Cl T% = 5% 149,600 Evans Prod (t 19% — 9 59,500 Exchange Buffet_ 25 - 2% _— 47,810 Fairbanks Cooeeeee-. 5% 3 %= % A L480 Fuller Co pr pf 43,100 Louis & N 3 ,060 Fuller Co 2d pf 249,400 Ludlum = e et T —_— 9 briel CoA ____ 8,400 MacAndrew & Forb(12). 1,400 128,704 107,70 25 11,70 10,504 158,50 25,401 5, Houston Oil vte _ + 1% Natl Pw & Lt (60c)_ Howe Sound (13)_ + 8% Natl Ry Mex st pf_ Hudson & Man_ __ =1 Natl R¥ Mex 2d pf 15,100 Hudson & Man pf 5 7 - 45 Natl Steel (1213) 549,400 Hudson Motor Car_ 231 131 14% — 4% CatlSupply.. 82,000 Hupp Motor Car_____ 4 3 3% t1 Supply pf (b1%) Natl Tea____ 615,900 Tilfnots Central 38 21 22k -1y Natomas Co (80c)_ 15,800 Tllinois Central pf A __ 6715 4415 441z — 11 Neisner Bros (2) _____ 2,480 In () 72 6012 601 —11'y 111,000 Indian Refining (al)_ 221 12 1213 = 35 316,900 Indust Rayon (2) T 33 35 -3 22,000 Ingersoll-Rand (b133)__ 144 124 124 —11 94500 New pnr» Indus (b1%) - 860 Ingersoll R pf (§) 3315 17 8,900 N Y Air Brake (al)- 129,300 Inland Steel (14)_ N Y Central __ 888,700 Inspiration Copper 5 £ 0 N Y Chi & St Louis 54,900 Insuranshares (b10 635 LAk g1 NY Chi&StLpf A 81,300 Interbcro R T vte (d) 13% 5% 6 —6 N Y City Omnibus 84,300 Interchem Corp (12)_ 64% A1 54N + 9% N 'Y Dock (new)__ 2,760 Interchem pf (6) 111% 107% 110's — XY Dock pf (new)_ 205,000 Intercont] Rubber. 1s 4% 6+ T N Y & Harlem (5) 1 275 400 Interlake Iron _ 28% 164 184% + % N Y & Harlem pf (5)_ Intl Agricultural - 9 5 B+ X% N Y Investors (d) - Intl Agricul pr pf (3 6315 42 4316+ U N Y Lack & Wn (5)_. Intl Business M (16) 9 50 —38 348,100 NY NH&H @) Intl Harvester (21 b+ % 285300 N Y N H & H pf (d) Intl Harv, —10% 94,600 N'Y Ont & Western_ Intl Hydro. §4+ 700 N Y Shipbuilding. Tntl Mercant Marine_ + 1% 2 N Y Shipbuilding pt 1900 Intl Mining (b30c) 8 — 6% N Y Steam 6% pf 3 1,245,300 Intl Nickel Can (b1)_ — 5% NY Steam 7% pf A_ 2% 73 4,300 Intl Nickel pf (7) ~- 10 Norfolk South (d) Az o) 305,600 Intl Paper & Pow A - % Norfolk & West (10)____ 272 236% 241 2 218,300 Intl Paper & Pow B Norfolk & West pf (4)__ 114 102 10312 — 8 862,400 Intl Paper & Pow C _ i+ 1,040,400 North Am Aviation__. 7% 9% 11 =3 581500 Intl Paper & Pow pf + 848,200 North Am (b60c) - 21 22% — 8% 5,540 Intl Rys of Cent A b - 18,500 North Am pf (3) _ 57y ‘i 53 — 2% 1,940 Intl Ry Central Amvte_. 8% 6 6 = 11,400 North Am Ed pf (6) ___. 10413 97%, 98 — 5iy 7,770 Intl Rys of Cent Apf___ 5Tly 4315 4414 — 1,280 Northern Central (4)___. 105 93 99 =— 4 11,600 Intl Salt (t1%)_. 28% 24 24 — 1,252,300 Northern Pacific 2T 22,600 Intl Shoe (12) 49% 411y 42 - 1,700 Northwest Tel (3) 470 = 41 50,800 Intl Silver _ 52 3135 36 + 240,400 Norwalk Tire & R + % 4,960 Intl Silver pf (b6 110 88 88 = 2,500 Norwalk T & R pf T8 =% 1,723,600 Intl Tel & Tel __ 16% 9% 1015 — —_— 128,400 Interstate Dp St(b2%)_. 364 2014 24 — Ohio Ol (b30c) 22% 1T% 19% + 1% 1,870 Intersta Dp St pf (7) __. 107%2 100 1624 — Oliver Farm Equip.. 73 5315 5T + 1t 29,800 Intertype Corp (b30c)__. 26% 17 17 — Omnibus Corp vte 26% 13 13% — 5 40,700 Island Creck Coal (2) 30 2514 28% + Omnibus pf A (8) . 114 95 95 -1s 490 Island Creek pf (6) 4 5 Oppenheim Collins_ 19% 124 13 = 115 Otis Elev (b40c) 45% 33% 3875 + 1% 11,100 Jewel Tea (14) _____ -177% Otis Elev pf (6)-. - 140 1271132 -3 98,300 Johns-Manville (13)_ —24% Otis Steel .____ 24% 14% 17 = % 4,170 Johns-Manv pf (7) . - 2% 30,400 OtisStl1stevpf (5%)-. 97 175 75 =5 10,790 Jones & Lau pf (b1%)_- 136 117% 117% =11% 1,470 Otis Stlprpf (1) _ ___ 134 1123117 =~ 2 15,000 Outboard Marine(b75c)- 28 22 23% 22, soo Kalamazoo Stove (f1)__ 46 28 28 =—16% 520 Outlet Co (3)___. 75 54% 55 —13 0 Kans CP&L 1st pf B(6)_ 121 116% 116% — 1% 50 Outlet Co pf (7). - 115 114 115 + 1 146.300 Kansas City Southern_.. 29 15 16 — 4% 85,200 Owens-I11 Glass (3) 96! 82! 88 18,700 Kan City South pf (al)_. 44% 25% 25% —18% 21,400 Kaufmann DS (11.60).. 36 26 25 =6 152,400 Pacific-Am Fish (1.20)_. 23 17 17 = 4% 24,600 Kayser (J) &Co (2) . 27% 20 20 — 4% 16,730 Pacific Coast____ 16% 6% 7% — 47 370 Keith-Albee-O pf (b1%) 110 = 96 991 —10% 10,360 Pacific Coast 13t pf_. 40 231 26 - 1 71,700 Kelsey-H W A (al34) 14,480 Pacific Coast 2d pt 27% 13 14% — 8y 78,200 Kelsey-H W B (al%3) 19,400 Pacific Fin (11.80) 32% 20% 214 —11% 1,780 Kendall pf A (16) __ 218,700 Pacific G & E (2) - 38 28 29% - 6% 1,230,400 Kennecott Cop (b1%)- 102,500 Pacific Litg (3) _ - 53% 164,900 Keystone Steel (b30c) . 58,700 Pacific Mills (b1) 73 33,900 Kimberly Clark (1) 4,250 Pacific Tel & Tel (8) 13415 13715 —15%5 79,300 Kinney (G R) Co. 960 Pac Tel & Tel pt (6) 133135 -14 26,670 Kinney (G R) pf (a1) 140,300 Pacific West Oil (a65 30 Kinney (GR)pr pf /3)_ 1,241,100 Packard Motor (b15¢) 16,100 Kresge Dept Strs __ 9 8,500 Pan Am Petrol a60c) . 170 Kresge Dp Strs pf(b20). 147 105 110% —19% 143,800 Panhandle P&R 176,600 Kresge (SS) Co (b60c)_. 29% 20% 21 = 9 237,800 Panhandle P & R pf. 10,000 Kress (S H) Co (1.60)—. 47% 31% 31% —13% 22,600 Paraffine Cos (b2) 160,600 Kroger G&B (1.60) 24% 18 20% - 21 1.560 Paraffine Cos pf (4) 2,577,900 Paramount Picturés 28% 16% 18 — 613 2,710 LacladaG‘u 69,900 Paramount 1st pf (6) 200} 122 122% -50% 2,250 Laclede G: 176,600 Lambert Co fl).--...... sair (Robert) Co Gair (Robert) pf (3)_ Gamewell Co Gannett ev pf (6)_ Gar Wood ( Gen Am Inv (a en Am Tnv pf (6) ien Am Trans (b1%) _ Gen Baking (160c) ien Raking pf (8)_ Rronze Cable Cable A Wle pf (a7) 4,600 Mills ( Mills pf () Motars pf Gen Outdoor Adv Outdoor Adv A __ Print Ink (h20c)_ Print Tnk pf (6) n Realty & Util pf ien Refractories (h2) __ ien Steel Casting pf Gen Theater (bitc) Gen Time Inst (11) en Time Instpf (6) . afety Raz(+1)_ af Raz pf (5). Gimbel Bros 2 Gimbel Bros pf (6) __ Glidden ("o (12) Glidden Co ev pf 12“) e Gobel (Adolf) - bel Brew (120¢) 1d & Stock Tel () = odrich (B F) (bitc)_. Goodrich pf (5) - Goodyear T & 12 (b1).__ Goodyear pf (%) & tham Silk Hos tham Siik Hos pf (7)- Graham-Paige Mot_ Granhy Conse Grand Union ctfs and Union pf (b1! eat North Ore ctfs(1) t West Sug (12.40) _ Great West Sug pf (7)__ 1 Green Bay & W (h27;) __ een (H L) (¥1.60) Greene Can Copper (3) - evhound Corp (80¢) ‘evhound Corp pf 55c .. juantanamo Sugar_ Guantanamo pf __ Gulf Mobile & Nor Norpt __ Hackensack Wat(hic) - Hackensack pf A (13() .. Hall (W F) Print 2 Hamilton Watch(bfic) Hamilton Watch pf (6)_ Hanna (MA) pf (3) ___ Harbison-Walker (12) _ Harbison-Walker pf(6)_ Hat Corp Am A (80¢) __ Hat Corp pf ww (672)_ Hayes Body Hazel Atlas Glass (15) Heckers Prod (160c)____ Helme (GW) pf (7) Hercules Powdr pf (6) Hershey Choe (13) Hershey Choc pf (74) Hinde & Dauch (b1) Holland Furn (al¢)_. Holland Furn pf (3)_ Hollander & Son (1) Holly Sugar (h214) 0 0 0 0 0 0 0 Homestake new b3 Houd-Hersh A (214) Houd-Hershey (B) 1% Household Fin (4) Household Fin pf (3) A 3 Helme (G H) (75) 6 140 1400 Natl Biscuit (1.60)_ Hercules Mot (1) __ 39% 24 ~10% 4,800 Natl Biscuit pf (7)___ Hercules Powder (6) 85 + 2 53,100 Natl Bond & Inv (1.44) . MacAndrew pf (6) MeCall Corp (12)- McCrory Stores MeCrory Stores pf (6 McGraw Elec (12) MeGraw Hill ' bi2 Meclntyre Pore (2) MeKeesport Tin P (2 MeKesson & Rob MeKesson & Rob pf (3) McLellan Strs (b 40% . 42 Mad Sq Garden (h1.13) - 15% 10! Mazma Copper (2) 42 Manati Sugar (d) A 3% Manati Sugar pf (4) 14 Manati Sug ctfs (d) 7 4 Manati Sug pf ctfs (d)__ Mandel Bros b1) = Manhat Elev gtd (d) Man Elev mod gtd (d) Manhat Shirt (1) Maracaibo Oil Exp Marine Midld (10c) Market St R rehall Field _ \mvm ( \v,.mm. Corp (1) Mathieson Alk (1! Mathieson pf A (7)_ May Dept St Mavtag Co (a Maytag 1st pf (6)_ Maytag pf ww (3) Maytag xw pf (3)_ Mead Corp (h30c)_ Mead Corp pf (6) Melville Shoe (15) Mengel Co Mengel Co 1st pf (2 \In reh & Min (7 Miami Copper Mid-Cont Pet (boc) Ry & Minn-Honwell R (2) 120 Minn-Honwell pf B (4)_. 124 Minn-Mol Pw Imp 16 11 Minn-Mol Pw lmnpf, -.101 8% Minn StP&S MinnStP&S Mo-Kan-Texas pf A Missouri Pacific (d) _ ouri Pacific pf () . Mohawk Carpet (11.20) _ Monsanto Ch (b1) Montgomery Ward ( Morrell J 3] Morris & Esses Mother Lode (a1 2120) Motor Prod (b11 Motor Wheel (1.60) Mucller Brass (1) Mullins Mfg B (a30c) Mullins Mfz pf (7)- .\hnmncwar 3) Murphy 3.20) Murphy (G C 5 Pt (5 midyear post today peaks of a long sion lows. Having yielded the last more of the ground previou. in one of the most s in Wall Street bonds faced tt from about retreat. spension accente a pre history leading to pects of S following a pr recovery trail, were co: ket observers a hind the shift i a bear tack Liquida a , frequently der in the United price for gold some of has seen showed the stock m new lows for t the final week r‘ tr ile operat faster than reve; m fixed serve to follow as than half t Spring declir Murray 11 BA&S pf A ww (5) - Natl Cash Reg (1) Natl Diary P (1.2 187% — 5 Natl Dairy pf A 1097 — 1% Natl Dairy pf B 10815 = 1 Natl Dept Stores Natl Dept Stores pf__ Natl Dist Prod (12) 15% = 3% Natl Gypsum Natl Lead ( Natl Lead pf A (7)_ Natl Lead pf B (6)_ Natl M & S C (b50c) (Continued on Seventeenth Page.) A than $5,000.000 of listed sha change. This still f{l the list than 82)000000000 to th pared with Mar set of a long ups: Renewed selling June carried man lowest prices si 1936 or late 1935 eral weeks of r after the Feder: come to the market for U loans earlier th Starts With New Year. The turn dented one of the greatest bull markets in top-grade bonds the financial district has seen The de- cline, starting with the new ar and gathering force w Stoeks and com- modities were s moving ahead, raised investment yields mo rderately, But rates remaincd low enough to encourage renewed corporate borrow= ing later. Before the half- -year mark was reached underwriters were busy with plans for several large issues. The April storm in markets rode in on rumors the States was considering a reduction in its buying price for gold as a check on rapidly rising commodity prices, Indications that Government aus- thorities were concerned over speculas tion for the rise in commodities were seen in London and Washington, Moreover, industrial warfare in automotive, steel and other industries helped frighten traders As prices hit the decline Wall Street began to talk about business recession in the second half of the year. Some professed to be pe: mistic about profits in face of mount- ing costs. athe Re: Steel Sets Record. The drop in security markets found no immediate reflection in business barometers. Steel makers set a new tonnage record, machine manufac- turers worked hard on large backlogs of orders, and manufacturing em- ployment, registered the highest since the 1929 stock market collapse. Many wondered whether markets had no# forgotten business realities. Numerous financial commentators were content to explain the decline as a natural setback after a long rise. History running back many years, they noted, offered scant pre- cedent for such a continuous rise in share prices as that which had been under vay since March of 1935, The administration’s drive for Federal court reform and the mo- mentous Supreme Court decisions in the labor relations and social security cases made a profound impression in financial quarters. It was assumed generally that the economic results in the long run would be far- -reaching. But what part they played in guiding markets was difficult to determine. From a midyear perspective, one of the most significant developments to many observers was indication that Washington had thrown its weight against rising prices, apparently afraid that recovery might turn into a feverish inflationary boom, fed by the vast supply of potential credit in the banking system. General Public Utilities, Inc.—Come mon share earnings, before surtax, 12 months ended May 31, were $3.38, against $2.61.