Evening Star Newspaper, July 2, 1937, Page 19

-«1AaL. CURB LIST HOLDS 10 NARROW RANGE Small Gains and Losses Divided About Evenly Late in Session. By the Associated Press. NEW YORK, July 2—Small gains and losses about balanced in late trad- ing on the curb exchange today, with a few shares managing to hold ad- vances of a point or so. Up 1 or more were Gulf Oil, Hud- son Bay Mining and Electric Bond & Share preferred. Elsewhere trading seemed to have been restricted by the approach of the 3-day recess over Independence day and the midyear rally turned into an urieven drift Down a little were Niagara Hudson Power, Sun Ray Oil. Sunshine Mining, Eagle Picher and New Jersey Zinc. These losses were offset by small ad- dances in Electric Bond & Share, American Gas & Electric, St. Regis Paper, Wright Hargreaves. American Cyanamid “B” and Technicolor, STOCK EXCHANGE SEAT IS BOOSTED T0 $90,000 ES the Assoctated Press. NEW YORK, July —Arrange- ments were completed yesterday for the sale of a New York Stock Ex- change membership for $90,000, an increase of $1,000 from the last sale OFFER IS EXTENDED. NEW YORK. July 2 (®.—Adams Express Co. has extended to July 31, 1937, its offer to exchange its 10-year 41 per cent debentures for an equal principal amount of its collateral trust 4 per cent bonds due in 1947 and 1948 Wwhich are outstanding in the hands of the public. e EMPLOYES GET VACATION. CHICAGO, Julv 2 roehler Manufa facturers of uphol down their (Special).—The iring Co., manu- tered furniture, s 10 planis between | July 2 and July 12 to afford their 3,000 | employes a vacation with was announced. JAPANFQE ORDER BUSES. NEW YOR Diamond | T. Motor Car order from the of Tokio buses, acc dent, CURB BONDS DOMESTIC BONDS , July 2 (¥ Co. has recewed an | Tokio Motorbus Co. | Japan, for a fleet of 96 ing to C. A. Tilt, presi- Gen Pub Sv 3¢ Gen Ph U & Grorsin G Muns Nebr Nevad Cal New £ouw As T 5s Bouw L&P 5 €4 GAF 6 '33 mat Etd G & F As 15 €4 Gas & FI s €14 Gas & Fl As '8 and Pw & Lt s arrett Evracuse L 5s '3 Tenn Pub S 5 Texas Elec Tide War P 55 Toledo Edis 55 44" IIst News T West T Ut ¢ WeUGR&E York Rwy Co Com Prv B 3 Erco M El 6 Ger Con Mun T'al &u Pw 4 B Rls a0 A o de Jan Blas ‘50 57 7578 ww—With warrante. xw— Without war- eants. n—New. st (stp) _Stamned {Nesotianility tmoaired by maturit Companies reported in receiverst 8" U. §. TREASURY NOTES. NEW YORK. July 2 (P.—Prices quoted In dollars and thirty-seconds: Approx Bate Maturity Bid. Asked. vield. ept. 1987 100-10 T00-23 e March, 1 June. Sept March, June, THE NEW YORK CURB MARKET By private wire direct to the Star. fs daylight saving Stock and Dividend Rate. Add 00. Hih. Low. Close. Afnsworth by0e_. 1 128 12% 12% Alr Device Corp 2 2% oM 2% Aluminum of Am 100s 140 13812 140 Alum Am pf (6). 1008 115 11413115 Aluminum Ltd _. 100s 108 108 108 Am Alrlines Ino_ ¥ 27% 25 274 Am Box B'dbT0c. 2 19 1870 18 Am Centrifugal 5 [ Am C P&L B b30e ‘ 4 Am Cynm B 166c. 31 308 Am Equita22ige 4% 4n Am & For Pw ww 2 Am G&E (1.40) _ 321 Am Gen (a50c) _ Am Gen pf (215)_ Am Gen pf (2) __ Am L& T +1.20 Am Maracaibo __ Am Seal Kp a30c_ Am Superpower . Am Superpwr pf _ Am Thred pf 25c_ Anchor Post F Angostura (t20¢) 61 Appalch EP pf 7. 103 Arcturus Radio._ 1 Ark Nat Gas . __ Ark Nat Gas (A)_ Ark Nat G cu pf__ Art Met W (80c) _ Ashiand Oil t10c_ Asso Gas & Bleo_. Ass0G & E (A) As=0 G & E war _ As30G & E $5 pf_ At] Cst Flsh b3se. Atlas Corp war Austin Silver Avery & Son Axton-Fisher A Babcox & Wil4 _ Bald L bd rts(d)_ Baldwin Rub 50c_ Barium Stain Stl Bath Iron Wks__ Beech Aircraft Bellanca Aircraft Rell Tel Pa pf 613 Berkey & Gay .. Berk & Gav war_. Blumenthal (S) Bohack HC 1st pf Bower Roll B(2). Rowmn-Blt 1st _ Rreeze Inc(asc) Rrewster Aero Rridgpt Mch b25e Rrill Corp (A)___ Rrill Corp (B) ___ Brown Co pf Brown F (h90c) Brown Forman It N & E 1st5 Runker HI&S 115 Can Ind Alco A Can Marcont __ Cartb Synd (b30c) Carnegie Metals_ Carrier Corp Carter (JW) 80¢ Catlin (a40c) - Celanese 1st +7__ Celluloid Corp Cen Hud G&E 800 Cent Oh Stl bife. Cent & S W Util. 2 32% by 36 301y 174 1% T 1% 27% 4% 3 3 6y 103 T K1y 1014 6 1l 2% 22 | Cent States Ei Cent St E1 6% pf Cantrif P 140c Chi Flex Shft (4) Chief Con Mining Citfes Service _ Citias Serv pf Cit Sy P&L $6 pf. Clande Neon Lts_ Clinchfield Coal.. Colon Dev Ltd.__ Colon Develop __ Colo Fuel&l war_ Colts P F A b5 Col GRE cvpf(5) Col O & G b20c __ Comwlth Dist _ Comwlth Edis 14 Comwlth & S wr Comnuty P&L 18t Comunty PS t1 _ Consnl Copper C GEL&P Bo 3.60 Cons Gas Util Cons M &S (11) Consol Steel Contl Securities Copper Range Copperweld 1.20 Cord Corp ___ Coaden Petrnl Cosden Pet 5% pf Creole Pet 1(50c) Crocker-Wh al0c | Croft Brewing __ Crown Cent afe._ | Crown Drug co _ Crystal Oil R pf . Darby Pet (50c) Dayton Rubber _ Dennison 7% pf._ Det Gas pf 1.20 Det Gray Iron 4c Det Stl Prod biae Domin Steel Duke Power (b2) Duro Test (40c)_ Duval Tex a50c._ Fagle P Ld b20c_ Fastn G&F Asso_ Estn G&F A pf 3 FstnG&F p pfils 'stn States Pw EasyWMB b50c. Eisler Elec (a5e) El Bond & Share_ Elec B&S pf(5) - ELB & S pf (6) El P&L opt war.. FIP&L 2d pf A _ 1 Shareholding .. ectrog’phic 1. ectrol Incvte Igin Natl W b1 Emp G&F 7% pf Emp G&F 8% nf Fquity Crpa2se FEurop'n El bd rts Evans Wall Ld Evans Wall L pf Fairchild Aviat__ Falstaff Brew Ferro Enam b75c 1 First NS1stpf7 20s Fisk Rubber 1 Ford Ltd b21.3¢ 2 Froed G & M thoe 3 Froedt cv of 1.26 2008 Gen Alloys _ 1 Gen Invest Gen Tele (b2ic) Gen Tire & Rub __ Glen ACbl12iz¢ 3 Gedchaux S A b2 1508 Godchaux Sug B. 1 Godchaux Spf 7. 108 Gorh'm vte bisc 5 Gorham Incpf 1008 Grand Natl Fims 2 Grand Rap V (1)_ Gray Tel P'S (1) Grt A&P T nv t6 Grt Nor Pap t1 Greenfleld T&D _ Guardian Invest_ Gulf Oil (h50c) _ Hartford EL 2% Hartman Tob Harvard Brew _ Hecla Min b45e _ Hewitt Rub b50c. Hoe & Co Inc(A) Holling'r G b1.20 Hud Bay M b75c Humble O11(11) Hygrade Food P Hygrade Sylv(3) [llinols lowa Pw._ 11l lowa P pf 234 01 [owa Pd ctfs Tllinots Zine b25¢ Imp Oil Ltd *50¢ Imp T Can b3 Indus Fin vie Indus Fin 7% pt In<of N Am 12 Intl Pete (t114) Intl Products Intl Radio b25c_ Intl Uth (B) _ Intl Vita (50c) Interst P Del pf Iron Fire vte 1.20 Irving Afr Ch (1) Jacobs(FL)b50c Jones & Laugh St Kingsbury Brew . Kingston Pr 4Uc Kirby Pet «20c) Klein (D E) (+1) . Knott Corp b20c.. Lake Shore (t4) _ Leb Coal&N 30e Leonard Of1 Lion Oil Ref (11) 2 Lockheed Air 128 Lone Star G 80¢ . 1 10% Jiong Island Ltg. 1 3% 40 111 a0n 111 1215 61g 134 17% 3n by 131 17 1 1 7 B A3y o, S 10079 A3 Loutsana Ld ¢0¢ 3 12% A i 1215 2:30 Stock and Bales— Dividend Rate. Add 00. Lynch Corp (12). 1 McWillmsDt2__ 1 Massey Harris _. 10 Merc Stores (b3)_ Mer&Mfg A b20c. Merritt Chap & S Merritt C&S pf A Merritt Chap war Mesabi Iron Mex-Ohio Ofl Mich Bumper Mich Gas & Ol Mich St1 T b30c__ Mich Sugar __. Mid Sta Pet (A)__ Mid Sta P vte(B) Midwest Ofl(t1). Minirg Co (Can)_ Molybdenum _ Mont Ward A(7)_ 30s MountC a21c) _ 1 Mount Prod(60e) 3 at Bellas Hes 4 ©)- 1008 Nat City Lb2jc.. 2 Nat Cont (b50c)_ 1 Nat PEL pf (6)__ 2508 ‘Nat Rub M a20c 1 at Servicepf _ 1 NatSusarNJ(2). 2 Neptune Mag0cA 1 ng T&T b13_ 208 ew Hav Cl1% 1 J Zine (12) __ 250a NY P&L pt (1) . 708 fag Hud Power 13 Niagara 8 B hise Noma El (b40c) . North AmL & P_ Nor Am L&P pf No Am Ray A b1 No Am Ray B hi . orthern P L Tsc. Nort States P A __ Ohio Edis pf (6)_ Ohio Pwr pf:(6) _. Okla Nat Gas pf_. Oldetyme Dist . _ Overseas Sec 60c. Pac PubSve __ Pac Tin spe (+2) Pantepec Oil Park Rz & R bi0c Pennroad (a23c) Pa Edis pf 2 80 Penn G&E(A)11; Penn Mex F ai0c. Pa P&L pf (7) _ Pa Wat& P (4) Pharis T& 6e Phila (o (b6e) Phoenix Secur __ Pierce v h3de . High. Low. Close. 40 40 40 22% 22 22% 11 11% 11% 4013 40'3 40%y 6 6 6 e Th Tw 65 61 65 T 1% L7 Y 2 17 81, 124 1 a0 B 97 2% 9 136% 11 6l | Pines Winterf't _ Pioneer Gold 40c_ | Pitney Bow t40c_ | Pitts Forging _ Pitts Metallur 1. | Pitts P1G1(b214) Towd'l1& Al bise. Premier G t12c _ Producers Corp _ ! Prosperity Bal3 Puh S Colo pf(7)_ Pub S Ind prpt__ Puzet Sound P&L $5 pf be1; Pug SA P&1 $6 pf | Pyrene Mfg b20c Quaker Oats pf 6. Rainbow Lum A | Rainbow Lum B~ | Raymd Con (t1) _ Raytheon Mf vte. Red Bank Reed Roll B t80c. Reiter Foster Root Pet (b25c) .. Root P cv pf 1.20. Rustless | & Stl Ryan Consol Safety CH&L b4 _ St Regis Paper Samson United . Savoy Oil . g Scran Laca b1 20 Segal Lock & H . Seiberling Rbber Selected Indus SelInalletf514 | Sel Inprpf(514) | Sent Saf Control Seton Leath a30c. Seversky Alr Shattuck Den _. Sher-Will (14) Singer Mfg (16) Solar Mfg(b10c)_ Sonotone (a10c).. Soss Mfg (50c) - SoCal Eptpf1l | SoCal EdpfC1% So N E Tel (7) Soutl'd Roy b20e. | Spencer C S b75¢ &tand Drev pf Stand Inv pf ww Stand Oil Ky 1 _ Stand Ofl Ohio t1 | Stand Pwr & Lt __ Stand S& L (4c)- Sterchi Bro a30 Ster] Alum b Sterling Ine Sunray Ol (bc). Sunshine Min(3). Swiss Am El pt Taylor Dist 30c Technicolor as0c Tech Hughes t40¢ Thew Shov a30c | Tilo Roof Inc (1) Tob&All Stks b1 Tob Prod Exp 15¢ Todd Shipyd 12 Tonopah Mafe _. Trans-Lux t20¢ Transwest Oil Co Tri-Contl C war_. Tubize Chatil Tubize Ch A b214 Tung-Sol Lamp _ Un G Can b27%¢- Utd Air war Unit Gas Corp Unit Gas war _ nit Lt& P (A)_. UnitL&PpPlA Utd Shoe M 1235 Utd S Mch pf 1.50 U S Foil B (1) U § & Intl Sec US Play Cards t1 US Radiator = U S Stores nit Stores v: Unt Ver Ex (b1)_ Unit Wall Pbl5c_ Utilities P&L(d) Util P&L pf (d) - Util & Indus pf _ Van Nor Ma b80ec. Venezuela Mex__. Venezuela Pet Walker Minmg.__ Weisbaum BB 40¢ Wentworth bl5e.. Wolverine ba0c Wright Hars t40¢ Dividend rates In dollars based on last puartly or semi-annusl payment tAn- nual rate—not including_ extras ~ fAc- cumulated dividends aPaid last v b Paid this year. d Companies reported as being {n bankruptcy or in receivership. or being reorganized under tnebankruptcy lc!.lor securities assumed by such com- oanies. DIVIDENDS ORDERED BY FARM CO-OPERATIVE By the Associated Press. RICHMOND, Va, July 2.—The Southern States Co-operative, farmer owned and controlled purchasing or- ganization, yesterday announced pay- ment of approximately $15,000 in divi- dends. The payments included a semi: annual dividend of 3 per cent on out- standing preferred capital stock and an annual dividend of 8 per cent on common stock. Volume of business for thé year end- ing June 30, 1937, was $10,000,000, an increase of $4,000,000 over the pre- ceding year. About 100,000 farmers in Virginia and adjoining States purchase supplies manufactured and processed in the eight plants and mills operated i by the organization. SHOE EARNINGS CLIMB. ST. LOUIS, July 2 (#).—Interna- tional Shoe Co. reported net in- come of $3,879,150, equal to $1.16 a common share, for the first six months ending May 31, compared with $3.- 489,057, or $1.04 in the corresponding period of 1936, ~ EVENING STAR, WASHINGTON, BANKS DISCLOSE CREDIT EXPANSION Loans and Discounts Rise, but Earnings Show Uneven Trend. By the Associated Press. NEW YORK, July 2.—Further ex- pansion of credit demands for business was reflected in the midyear condition statements of leading New York banks, which showed general gains in loans and discounts in comparison with the March 31 figures. Many statements disclosed further reductions in holdings of United States Government and other securities. In- dicated earnings for the first half of the year were higher in a number of instances, but there were some sub- stantial declines. First National. First National Bank increased loans and discounts to $93,386,240 from $80,001,648 at March 31, Government securities decreased to $236,944,040 from $283,045,992. Indicated profits for the first half of 1937 were $56.81 a share on capital stock, against $51.78 in first half last year. Central Hanover. Central Hanover Bank & Trust Co.'s loans and discounts were $286,853,314, against $262,596,083 on March 31. United States Government securities were $292,906,194, against $345,790,029. Indicated first-half profits were $3.25 a share, against $301 a share last year. Chemical Bank. Chemical Bank & Trust Co. report- ed loans and discounts of $135,079,809 as of June 3, compared with $128.- 951,917 three months ago. Govern- ment securities dropped to $122376,- 031 from $132,561,551. First-half in- dicated profits were equal to $1.27 a share, against $230 a share last year. Bankers’ Trust, Time loans and bill discounts of the Bankers” Trust Co. rose to $196 437,- 268, compared with $171487.816 at the close of March. Holdings of Gov- ernment securities increased to $401,- 066.209 from $357.061,513. Deposits amounted to $045,168,425, against $835,940,213. Manufacturers' Trust. Manufacturers' Trust Co. showed $244.982558 in loans and discounts, an increase of $35,000.000 since March 31, Holdings of Government secur- ities dropped to $152,026,332 from $214.713.934. Deposits were $612,494,- 253, against $618,917,749. Irving Trust, Irving Trust Co. reported $164,498.- 498 in loans and discounts, compared with $120.129.080, at the end of March. Holdings of United States Government securities fell to $166.- 523,560 from $20,000.813. Deposits increased to $560,044,453 from $556,- 253,969, Bank of Manhattan, Bank of Manhattan Co. showed $179,118380 in loans and discounts, compared with $168,568.285. Holdings of Government securities dropped to 064,546,250 from $76,774.37 De- posits amounted to $476,780,138, against $498,571,438, Wash}hgton Excl;ange Real Estate Mortgage & Guaranty Pld—100 at 43, Washington Gas 5s 1151 Mergenthaler Linotype—4 at 41 Notice—This Exchange will be closed Monday next, Independence day. Bid and Asked Prices. BONDS. PUBLIC UTILITY Amer. Tel. & Tel Anacostia & P Ana_ & Poi. Gu C. & P. Tel. of Cao. Traction R. R City & Suburban Georgetown Gas 1%t Elec. Pow. 3i,s ash. Gas 58 105% Gas 55 1960 SR R¥y. & Elec. 4x " _ 108 MISCELLANEOUS Chase Club 1st 4148 Cold Storage 5s STOCKS. PUBLIC UTILITY. Amer. Tel. & Tel. (9) *16R Capital Transit Co 0% N. & W. Steamboat (8) Pot. Elec. Pow. 6. pfd, () Pot. El P. 5'3 DL (3.50) Wash. Gas Lt Co. (3.60) er Wash. Ry. & El. com. (36) Wash. Ry. & El. pfd. (5) 110 BANK AND TRUST COMPANY. Capital (4) Liberty (4) Lincoln ({6.25) Riggs (eR) Rigas pfd (5) Washington (8) Amer. Sec. & Tr. Co. Nationel 8av, & T7 Pr. Georges Bk. & Tr. (.50) Wash. Loan & Tr e Bank of Bethesda (h.75) 34 Com. & Savings (e10) 210 FIRE INSURANCE American (8) Corcoran (5) Piremen’s (1.60) National Union (.60) TITLE INSURANCE. Columbia_ (.30) Real Estate (6) __ Mlsmufl!ovs Carpel Corp (2.00) Lanston Monoiype (i4) Lincoln Serv. com. (11.00)° Lincoln Serv. pfd. (3.30) Mergenthaler Lino, Peoples Dr. St. com. (¥1.00) Peoples Dr. St pfd (650} =230 1960—$500 at 58 01 =77 105 (oR) Real Est. M.&G. pfd Security’ Storage (5) Ter. Ref. & Wh. Corp. Wdwd. & Loth. com Wdwd. & Loth. pfd. *Ex_dividend b—Books closed. er—Ex rights. 1Plus extr —27 extra. % extra, 75¢ extra. 3¢ pald June 30. 1938; 45c paid De- cember 22, 1936. INSURANCE STOCKS NEW YORK. July 2 (P —New York Security Dealers’ " Association Aetna Cas (2a) _ - Aetna Ins (1.60) = Aetna Life (.80a) Z Am Equit (i.60a) Am Reins (.40g) Am Reserve (la) _ Am Surety (212) | Automobile Balt Amer Carolina (1.3 City of N Y Conn Gen Life (.80) Contin Cas (1.20) Fid & Dep (4) Firemen's Nwk (.30) _. Frank_Fire (1a Gen Reinsur ( Glen Falls (1.60) Globe & Rep (.80) Globe & Rut ____ Great Amer (1a) Hanover (1.60) Hartford Fire ( Home Fire Sec Home Ins (la) Homestead (1) Knickerbocker (& Lincoln Fire _ Maryland Cag~ Mass Bond (3%) . Natl Pire (2) Natl Liberty ¢ N Hampshire ( N Y Fire (.80a) Nor River (1) Ehoenix (2a) Erov Wash ( Rers 1he { St Paul Fire (8) Springfield _(412a) Sun Life (712g) _. Travelers (18) U 8 Fire (2) Westchester (1 a—Also_extr e—Declared or paid so (1.20)"C 3 e SRR S R R RSB DN T e A m e 5 A FE ; B2-Ssumon @ P D. C, Cost of the Market Basket in 25 Leading Cities Based Upon Average Retail Prices as Reported U. S. Bureau of Laber Statistics as of May 18, Contents of Each Market Basket 3 Lbs. Round Steak 21Lbs. Bacon 1 Q. Milk 1Lb. Butter 1Lb.Lard 1 Doz. Eqgs | Loaf Bread I Peck Potatoes 1 Doz. Orang 1 Can Corn 1 Cen Poas B Lbs. Sugar 1 Lb. Coffee 3Lbs. Cabbage FRIDAY, JULY 2, 1937. *Ei Paie .27 1 Can Tomatoes FINANCIA b:J‘I Security Offerings Climb to Peak Since February By the Associated Press. NEW YORK, July 2—Stock and bond financing jumped sharply up- ward in the week ending July 1, reach- ing the best total since early Febru- ary. A compilation made by Poor’s Pub- lishing Co. placed the aggregate of new issues at $182.789,613. This com- pared with $110,000,000 in the pre- ceding week and $192,499,205 in the corresponding period of 1936. In the week ending February 11 a total of $224,946,043 was offered. Details follow: Week ended_July 1 Total SIR2TRO.612 Municipal 15,088 /173 Industrial lities Stocks Raiiroad Misceilaneous Year Ago 16724109 705 A4.104.505 4183000 B0 00 118949 000 0.154.000 00 3000 2.000 THE WEATHER District of Columbia—Mostly cloudy and warmer tonight; tomorrow gen- erally fair and warmer; gentle south- west to northwest winds. Maryland—Mostly cloudy tonight and slightly warmer, probably showers in north portion tonight; tomorrow generally fair and slightly warmer. Virginia—Generally fair and slightly warmer tonight and tomorrow. West Virginia—Generally fair and slightly warmer tonight and tomorrow, except possible showers in north por- tion tonight River Report, Potomac River little muddy and Shenandoah very muddy today, Revort for Last 24 Hours. Temp Barometer Degrees. " inches. & a1 87 Yosterday— ¢ pim. oo R pm 5 Midnight _Z Today dam 3000 30 02 20.98 g am. Noon 73 Racord for Last 24 Hours (From noon yesterday 10 noon today.) Highest, 77. At 6 pm. sesterdar. Year ag0 N5 Lowest, 55, &t 6.30 am. today. Year g0 K. Record Temperatures This Year, Highest. 93, on April 18 Lowest.” 16. on February 28. Humidity for Last 24 Hours. (Prom noon yesterday to noon today ) Highest. 95 per cent. at 8 15 am. todav. Lowest, 36 per cent, at 3:15 pm. yes- terday. Tide Tables. (Purnished by United States Coast and Geodetic Survey.) i Tomorrow ish . 03 8.m Low 10:00 am High Low The Sun and Meon. Rises. 446 4.46 Sun today Sun tomorrow Moon today Automobile lights must be turned en one-half hour after sunset. Precipitation. Monthly precipitation in inches in the @apital (current month (o date: Month, 1933 Average. January &3 453 February Mach April May June July Ausust September - October November _ December “ellher in Various Cmn. Temp. Rain- Bara Hh Low fall Tex 98 98 N Y. % 2 R0 3R _ Record 8tations Weath" Abilene, R ~ Cloudy " Clear Clear Cloudy 2 Cloudy Clear _ Clear ~ Cloudy Cloudy Cloudy Cloudy Clear Cloudy Clear Clear Cloudy Cloudy Clear Clear Cloudy Cloudy Cloudy Clear Clear Cloudy Cloudy Cloudy t Baltinore Md. Birmingham 3 Bismarck. N. D Boston, Mass. Buffalo, N. Y Charleston_ 8.C Chicaso. Tl Cincinnati, Ohio Cleveland.” Ohio Columbia. S.C. Denver, Coio Detroit’ Mich. El Paso. Tex. Galveston, Tex. Helena. Mont Huron. 8 Dak Indianapolis Jacksonville Fla Kansas_ City.Mo. Los Angeles Louisville. Ky. Miami._ Fla. Minn.-St. Paul New Orleans New York. N.Y.2 Oklahoma_ City Omaha, Nebr. Philadelphia Phoenix. Ariz. Pittsburgh, Pa. Portland, Me. Portiand. _Oreg. Raleigh. 'N. ¢ 8alt Lake City 8an Antonio San Diego. Ca San_Francisco. St Louis. Mo._ i Seattle. Wi Spokane. Tampa. WASH., Cloudy Clear Clear Cloudy Cloudy Clear ZZ7 Clear 227 Cloudy Clear Rain Clear Fla.___ D, C. FOREIGN. (7 am.. Greenwich time. today.) Stations Temperature. Weather. London. England 3 Cloudy Paris. France Cloudy Vienna. _Austria Cloudy Berlin, Germany Cloudy Bresi ' France . Cloudy Stockholm _Sweden Gibraliar Spain (Noon. Greenwich time, Horta (Faval). Azoros ‘Current observations.) St. Georees. Barmuda R 8nn Juan. Prerto Rico.. R4 Havana, Cuba (- Colon. Canal Zone ® Cloudy Cloudy today) « Cloudy Cloudy Clear Cloudy Cloudy DIVIDEND IS ORDERED. CHICAGO, July 2 (#).—National Cylinder Gas Co. directors voted a dividend of 25 cents on the capital stock, payable July 15 to stock of record July 1. It is the first payment on the stock since it was split two-for- one in May. 0DD-LOT DEALINGS. By the Assoctated Press. The Securities Commission reported ot transactions by dlll- ers and special Exchange for customers. {nvoiving 123, 373 shar purchas velving 1 ALLOWED TO INTERVENE IN NEW HAVEN PLANS By the Associated Press. The Interstate Commerce Commis- sion authorized today a committee rep- resenting 14 insurance companies to intervene in reorganization of the New York, New Haven & Hartford Railroad. The committee, which said the in- surance companies represented held | $57,863,100 of New Haven and sub- sidiary company obligations, was headed by James Brewster, vice presi- dent and treasurer of the Aetna Life Insurance Co. of Hartford, Conn. The commission also authorized in- tervention by the City Bank Farmers' Trust Co. of New York, trustee, under the first mortgage, of the Central New England Railway, a New Haven affiliate. DOLLAR GOES HIGHER IN LONDON DEALINGS By the Associated Press. LONDON, July 2.—Dollar trading was quiet in the foreign exchange market today. The United States unit gained ' of a cent, closing at $494 5-16 to the pound, against $4.94% in New York overnight. French francs, under official con- trol, ended 128.78 to the pound, com- pared with 128.47 yesterday. PARIS, July 2 (#.—Rentes. 3 per cent, 70 francs 75 centimes; 41,5 “A,” 73.05; 4'28, 1937, 98.60. Exchange on London. 128.84. dollar was quoted 26.0¢ The —_— HUGE GAIN REPORTED BY REMINGTON-RAND|? Br the Associated Press, NEW YORK, July 2.—James H Rand, jr, president of Remington Rand, Inc, M a letter to stoc holders stated: “Tentative earnings for April and May, the first two months of the current fiscal year, have been reported to the board of directors, and amount to approximate- ly $1.018,000, or 56 cents a common share, as compared with $400,000, or 16 cents a common share, earned in similar period of the previous fiscal year. Current booked orders con- tinue to run well ahead of last year, and ahead of May, contrary to the usual seasonal trend.” STEEL SCRAP RAISED. NEW YORK, July 2—Dow Jones & Co. in a dispatch from iPttsburgh, said today No. 1 heavy melting steel scrap was being quoted 50 cents a ton higher at $18.50-$19 a ton. This 1s the first advance since early March, when the price advanced 50 cents to a range of $23-$23.50, a top for 14 years. Since March changes have been downward. — CHICAGO PRODUCE. CHICAGO» July 2 (#.—Butter, 15.581 firm. creamery specials (93 score) 30's- 31 extras (92), 30. extra firsts (R0-91) D9iy-dy; firsts (38-80) 2712-2R12; seconds (8413-87), standards (80 central- ized “carlots). 283, ' Eges. 15309, frm extra Arsts. local, ‘20%4: ‘cars 2114 fresh rraded firsts. Jocal. 20'4: cars. 1. current receipts, 189'2. storage packed extras, 21% storage Dacked firsts. 2115 Poultry, live, 50 trucks. steady: hens over 5 pounds, 5 pounds and less. 17. Leghorn hens. 1 i fryers. cclored Plymouth Rock. White Roc 0: bare- backs, 17: broilers. colored. 18 Plymoiith and White Rock. ip: barebacks 16: Leg- norn. 1713-18;" ‘Springs. colored. 20 Plymouth Rock. ‘White Rock. 2213: bare- backs, 18: Toosters. 13%:: Leghorn roosters 12'2; turkey hens. 15: toms. 14: No. 2 turkeys, 13: ducks. white and colored. 4'z pounds up. 12!z small, 11: geese 11, Potatoes 94. on track. total Inited States shipments, Califorria v e Rose and Eastern Cobbiers slightly weaker, Missouri Cobblers steady. better feeiing prevailing: supplies moderate: de- mand slow. = sacked per hundredweight. ifornia White Rose. U. S mostly around 1.80: U. Virginia Cobblers U folk ‘section. 1.30-35: North Carolina Cob blers, U. S. No. 1, few sales 1 dark’ color slight’ decay. 1.0 souri Cobblers U. 8. No. 1. and partly graded. 1.10-20: uingraded 1.00-05: OKla- oma Bliss Triumphs. U. S. No. 1. show- ing decay. .80-1.15: Cobblers. U. 8 No. 1, ghoging decay, car. .85 Karisas Cobblers! 0. 1, 1%-inch minimum, car, 1.20. NEW YORK PRODUCE. NEW YORK. July 2 (#).—Egss 11.527 irresular, " Mixed colors. ' special ~packs. 814: firsts. 217, ties. No. 1. 201,- 20%:" average checks. 19-18'a. Other mixed orices unchanged. Butter. 7.998. firmer. Creamery firsts (RR-91 scores). 2R13-3034: seconds (R4-R7 scores) 25153-277; Centralized (80 score) 3014 Other grades unchanged. Cheese. 218 505: firm. State. whole milk fiacs. fresh fancy 18i:: fresh. specials. 19; held fancy. 1936 5-130, Live pouitry. hy freight. Airm. Broilers. Rocks, Leghorn. 17. Other freight prices unchanged. By express; st 5. Leghorns, " Turkeys, Dressed poultry about steady. and frozen fowl. 48-54 pounds. 16'2-21%. Other dressed prices unchanged. SHORT-TERM SECURITIES. (Reported by Ckas. D. Barney & Oo.) g Amer. Tel. & Tel. 5las 19431 Baldwin Loco. Works. 5s i8d0 Calif. Packing Corp. Earo.. Clinch. & Ohio 185s Chesa. & Ohip Rwy. 3s 1030 Edison_Elec. Illum, 4s 1038 Gen. Pub. Serv. alas 1830 Grand Rap. & Tnd. 41ss ouston_Oil 51:5 Intern: Mere Marine 8 1041 Int. Tel. & Tel 41 Laclede Gas Light Lehigh Valley Coal 6s 1 Lehizh Val Ter Ry, 53 1841 52!}{‘: ISL'" rl‘tR 45 1940 Michizan mlal:n%&n o{ N W o, 25 103 P oha L e Notes, 1038 New Gore Dock 58 3 N. Y. Su WG 5. 1940 New ‘ork k s 1938 Pacifil of u 938 Penn- cmen Penna. R. ande wamrn 1; 3 4128 2R B 2m8mss o PRSTeE So0043 FEES REERERES S Do 3333, 3 Rlo s i gl‘fl'fl‘ Firindinm Cots. -8 oAl Vertientes Sugar Co 7s 1942 Wabash Rwy, Co. 35 1039 Farner Brog. 61 Western N Y. & Pa. 48 Western Union Tel. B Auto Production Jumps to 122,890 Level for Week By the Assoctated Press. DETROIT, July 2—Ward's Reports, Inc, estimated today that automobile factory output for the current week would be 1 90 cars and trucks, compared with 121,032 last week and 102,833 in the comparable week of 1936. The survey said that this week's level probably will “not be improved | upon” for the rest of the current model production season. WAYNE P PUMP EARNS L. **% A—19 FREIGHT LOADINGS AT 173,733 MARK Week’s Increase Boosts Total 18.4 Per Cent Above Year Ago. prEW YORK The Astoc sonally’ adiusted week t carioadings based on 1029- ed today to 789, 10Us week ted Range of recent years 1036 1 2 "848 7 A07 High Low By the Associatea Press The Association of American Rail- roads reported today 133 cars of revenue freight were loaded during the week ending last Saturday This was an increase of 17444 cars, or 2.3 per cent, compared with the preceding week: an increase of 60,134, or 184 per cent, compared with a year ago, and an increase of 136870, or 254 per cent, compared with two years ago. The report classified the loadings as follows 773 Last wk Year ago. TAR0% -8 Miscellanesus 316,000 Less-th car Conl Grain and product Western dis- Live We try Forest products Ore Coke __ MINING FIRM CALLS FOR REORGANIZATION By the Assoctated 58, NEW YORK, July 2—A petition for reorganization of the Mining Develop- ment Corp., of which August Heck- scher is president of the board, was | filed yesterday in Federal District Court The corporation was formed fn 1934 In Delaware to take over prop- erties then owned by Golden Center Mines, Inc, among its holdings are Independence and Cougar Mines, pro- ng $746,545 IN 6 MONTHS | By the Associated Press. NEW YORK, July 2.—Net income of Wayne Pump Co. for the months ended May 31 was reported as $746.545, equal to $2.58 a share on 289,658 capital shares, This compared with $502.086, or $2.41 on 208,376 shares in the cor- responding period of last vear The company’s plants are at Fort | Wayne, Ind., and Los Angeles. FOREIGN EXCHANE}ES, NEW YORK. July 2 change steady: Great others in cents. ~ Gres 4943, ca France. dem demand Demands free. 40.10 Holiand 5 (P —Poreign e Britain in do! Britain dem B0-dav_bills, nch 3847 cables 3.%4. 6. cables, i Belgium tzerland tugal. 4 50° Greece Czechoslovakia Austria. 15.35n; Hu Yugosiavia . 10.80° Rimania Brazil S R0 r 080 Honek 85 Montreal i York in Mor Stexico Oy 99 %1%y New 100.15%. n—Nominal U. S. TREASURY POSITION. By the Associated Press. The position of the Treasury J Receints 54 11512 expend balance 83535147 customs receipts for the month e fiscal vear (since Jul s expenditures S47 including . S R4A.§60 0 of emergenicy expenditures. excess of ex- S11.318.310 A0, gross dabt 2.0 an 561 over the prev ®old as- £12 318 172420.10. including $1, 73.10 of inactive gold < day SIX | crease of £2<._ | ducing copper and other Grant County, Oreg | Mines Co., carried on t | velopments books at $2.791,666, but h have not oper- ated for several years, and various other mining interests in both the Americas | The petition said about $100,000 1s needed to resume Bolivian tin opere | ations. LOAN EARNINGS SOAR. ° NEW YORK. July 2 (Special).— Beneficial Ind al Loan Corp. con- solidated net earnings on its common stock for the second quarter of 19 are estimmated to be approximately 70 cents per share, President Charles H. Watts announced today. This is the highest amount earned in any quar- ter in the history of the company. NEW YORK BAR SILVER NEW YORK, Julv 2 (#) —Bar silver steady and unchanged at 443%. Money for Construction Loans and Loans cn Existing Properties 5% FIRST DEED OF TRUST ONLY GEORGEI.BORGER 643 Indiana Ave. N.W. Nat'l 0350 TO PURCHASE, BUILD OR REFINANCE Interest as Low as -4 2% Easy Monthly Payments as low as $7.50 per $1,000. No eommissions or be paid monthly. our economical loan COLUMBIA B 716 11th Street States lucts charter issued either Taxes Investigate renewals. plan. UILDING ASSOG!ITIO Opposite Palais Royal mb—uneunndzr; by its state government or by the Federal Government. Before a bank charter is issued requirements must be met such as mintmum paid in capital and in many cases, pai in surptus. A charter m the bank’s state or from the Federal, to carry on a business, but under the regulation banking of banking laws and supervision of govern- ment authorities. For this reason, it is much more accurate to say has a than a * McLachlen Ban that the United States “‘chartered banking system,” rather private banking system,” used by many speakers and writers. the term king Corporation Since 1891 TENTH AND G STREETS, N. W. S.W. Branch, 12th and Maryland Ave. S.W. Member Federal Deposit Imsuramce Corporation