Evening Star Newspaper, July 6, 1937, Page 19

FINANCIAL. CURB LIST GOES 10 HIGHER LEVELS Gains Range From Frac-| tions to Around 3 Points. Volume Increases. By the Assoclated Pross. NEW YORK, July 6.—The Curb Market continued to move forward teday, with gains ranging from frac- tions to around 3 points Buying improved, with trading sub- stantially ahead of Frida; transfers. Aluminum Co, ran up nearly 4 points and St. Regis Paper gained around a point. Humble Oil & Refining Jumped 2 points and Creole Petroleum, Imperial Oil and International Petro- leum were fractionally higher. Electric Bond & Share gained a major fraction. American Super- power, United Gas and Electric Bond & Share 5 per cent preferred im- proved. Unchanged to & trifle lower were American Light & Traction, Sunshine Mining, Pioneer Gold and Cities Service. Steel Rate Sags 7.7 More Points To 67.3 Per Cent| Byt clated Press. NEW YORK, July 6.—Operations in the steel industry for the current week declined 7.7 cent of capacity, corpared with 75.0 per cent last week, the America Iron and Steel Institute estimated today. A month a 762 per cent year ago the The sharp decline fx ing week was due plained. to the indust servance of ti ing a consid DOMESTIC BONDS, High. Low. Noon. i DS eSS0 S L e a0 Gom B0 'Sy ®GELA C Con Jer C P&L 41xs Ky Util 33 61 H 100% 10013 10012 101 ° 101 101 106 105 103 108 1 104 axty, ar 210312 103 14 10152 10112 1011, 140 141, 141 10618 10¢ 10614 1 F n An P&S Sherid Wy S E P&L fis 0 Sou Cal Ed 3745 "0 1348 60 B Souw L&P 55 ' Std G&E cv ¢ Std G&E cv his Std G&E 6 Std Gas & El 6is 8id Gas & El fis Texas Elec Tex Pw & L Toledo_Edis Twin C RT 5'zs Ulen Co 4s '44 Unit Lt" Pw 6s Unit Lt _Pw flos Unit L R D 5158 ° Unit L R M 65 Tnit L & Utah P 31 56 0012 10015 104 104 1071 10615 1067 9414 041z 155 '8 Ger Con Mun s '47 Hanover Ci Isarco Hyd tal Su Pw ima_ City 6las Sauda ¥ Ltd 5s Terni-Snc 6128 53 A ww—With warrants rants. n—New. st (stp)—Stamped fNegotiability impaired by maturity, Companies reported in receivership. 1011 a1 2yah 1 1 110 A8 AR xW—Without 110 AR war- FREIGHT LOADINGS. NEW YORK. July 6 (P —Revenue freight carloadings on railroads reporting today for the week ended July 3 included: Previous Year July week Balt. & Ohio 0196 48513 Rock Island __ Wabash ___ MONEY MARKET. NEW YORK. July 6 (P.—Call money steady: 1 per cent all day: prime commer- cial paper 1 per cent: time loans steady: 60-90 days. 1% 4-6 months. 11 per cent® bankers' * acceptances 30-90 12-%%: 4 months, ‘months. Tediscount rate, Reserve 5 New" ‘York . 172 per cent. STEEL QUOTATIONS. NEW YORK. July 6 () —Steel prices per 100 pounds fo.b. Pittsburgh: annealed sheets. hot roiled. 2.4 vanized sheets, ' 8.80: black shee tolled. 3.15; steel bars, 2.45. ~ | AmCP&L A (3)_ | Anchor Post ¥~ By private wire direct to the Star. All time shown below s daylight saving on which the Exchange is now operating. 2:30 Stockand Sales— ‘Dividend Rate. Add 00. Acme W vic (2)_. 50s Aero Supply B._. 1 Asfa Ansco Ainsworth b30 Afr Device Corp_ Air Investors ___ 2 Ala Gt South (3). Ala Pwr pf (6) Alabam Pw pf(7) Aluminum of Am 350s Alum Am pf (6) 50s Alum Goods b2se 1 Aluminum Lid _ 300s Am Airlines Inc. 7 Am Beveraze __ 3 Am Box B'd bT0c. Am Centrifugal Am C &L B bive 1 1 4 3% 6l 61 70 144% 140 144 1145 114% 1140 1675 16is 167y 112 109 11 28 274 1% 1% 19 26 6 508 14 508 108 208 Am Cynm B 160c. Am G&I (1.40) __ Am G, pf (6) .- Am Gen (abue) Am Gen pf (2) __ Am Laund M 80c. Am L& T 11.20 _ Am Mig Co (b2)_ Am Maracaibo _ | Am Meter (b11y) Am Seal Kp asie. Am Superpower._, Am Superpwr pf_ Angostura(fioe). Arcturus Radio._ Ark Nat Gas ____ Ark Nat Gas (A)- Ark Nat G cu pf.. Ark P & Lpt (7). ATt Met W (80¢ Ashland Oil 140c. Asso Gas & Elec_ Asso G & kKA Ass0 G & IS $ pf Asso Laundries - At CstEFish bive Auas Corp war 7.7 points to 673 per | | Brewster Bridspt Mch bZe | Col G&E | Fisk Ausun Silver Auto roducts Auto V M (Tove) . Axton-IFisher A _. Habcox & Wil 4 _ rium Stain Stl. rdstown DIst_. tn 1ron Whs Becch Aircrait Berkey & Gay Berk & Gay war.. Buss (EW) Bliss & Laugh(2) Blue Riuze(vloc) Blue Llidge cv Blumenthal (S) ok HC 15t pt ois (aiic) . 1 1 It Bou | Bower (2 Bowmn-Blt 1st Bow'n-Biit 2d pf Br TL&P buve Aero Brill Corp (A)._— | Brown Co pt_____ Brown F (b%0e)_ Buckeye P L (4) r HI&S 1 St El 6% pt StELT Centrif P Charis (133 Chiet Con Childs Co pt ¥ Auto (760c) . Claude Neon Lts_ Cleve Tractor nchtield Coal - Colon Dev Ltd n DeviA)2 Colo Fuel&l war_ Colts P F A biic vpis) Colum O&G a2ie Comnuty P&L 18t Comwlth Edis 14. Comwlth & S wr “omp SM ste Coms)M ste vie 71 Consol.Copper SL&P Bo 3 B s i Cord Corp « Cosdén Pet Creole Pet 1 Croft Brewing Crown Cent afic Crown Drug Co _ Cusi Mex Mining Darby Pet (50c)_ ton Rubber _ Derby Oil & Ref Derby O&R pf b2 | Det(Mich)Stove._ Domin Steel Douglas W L pf_. Draper (72.40) ___ Dubelier Conds Duro Test (40c)_. Duval Tex adlc zle P Ld b20c stn G&F Asso. tn G&F A pf 3 syWM B o onomy GS b2ic Eisler Elec (asc) El Bond & Share. EIB&S pf (6) ... Elec B&S pf(5)-- El P&L opt war-. El P&L 2d pf A El Shareholding_ Electrol Inc vtec. Elgin Natl W b1_ Emsco Der 11 __ Equity Crpa25e_. Evans Wall Ld Ex-Cell<O (b40c) Fairchild Aviat__ Falstaff Brew Fansteel Metal Ferro Enam bTic Fidelio Brewery _ Rubber sk Rub pf (6) __ | 4| Ford(Can)A(1)__ Ford Ltd b21.3c Frank Ray af0ec _ Froed G & M t60c Froedt ev pf 1.20 Gen Alloys = Gen Firepr bige . Gen Invest 3 Gen Rayon Ltd A Gen Tele (b25c) . Gen Tire & Rub__ Georgia Pw pf 6 Glen A Cb1214e Godchaux S A b2 Godchaux S pf 7- Goldfield Consol Gorh'm vtc bidc - | Grand Natl Fims Grand Rap V (1) Gray Tel PS (1) |Grt A&P T nv t6 Grt Nor Pap t1 _ Greenfield T&D _ Guardian Invest_ Gulf Oil (b50c)_. Harvard Brew___ Hazeltine b75¢c... Hecla Min ba5c__ Helena R (A) 1__ Hewitt Rub b50e. Hollinger G t65c Horn & Hard 12 Hua Bay M b75c._ Humble O11(13). Hygrade Food P [1linots lowa Pw. Il lowa P pf 2% _ 11l lowa P d ctfs Illinols Zine b25e Imp Of1 L1d t50c Im T of Can t40c_ Ind Pipe L b30c __ Indus Fin vte Insof N Am t2 Intl H&L Ltd __ Intl Pete (11%)_ Int] Radio b25¢c Intl Util (B) | Intl Util war new Intl Vita (50¢) ... Interst P Del pf_. 9% » | Mount THE E Stock and Bales— Dividend Rate Add 00. Jacobs(FL)bs0c. 8 Jeannette Gl a60c JerCn P&L pt 5% Jonas&Nbg blsc Jones & Laugh St I<en Rad A b3715¢ Kingsbury Brew_ Kings C L pf B7_ Kingston Pr 40c . Kirby Pet4alie) . | Kreuger Br (11).. Lake Shore (14) Lakey Foundry Leh Coal&N 30¢ Leonard Off Lion Oil Ref (1) Locke Stl ¢ 180¢_ Lockheed Afr Lone Star G 80¢ Long Island Ltg_ Long I L pf A(7). 010; Loudon Packing Loursana La 40c_ | Lyneh Corp (12). McCord Rad (B). McWillms D 12_2 Majestic R&T Marion Stm Sh_ Massey Harris Master Elec (1) - Mead John'n (13) Memp N G (b10c) | Merc Stores (b3) | Mer & M pt pf 60c Merritt Chap & S | Merritt C&S pf A. | Mesabi fron Mex-Ohio Oil | Mich Bumper ___ Mich Gas & Ol __. ) & EYSREIS RO e L3R G OIS T e e O » | Mich Sug pf bioe Mid W Abraloc . Mock Judson 60c- | Molybaenum Mont Ward A(7) Montr HL. > azle) - | Mount Prod(60e) Nat Bellas Hess Natl B&S ( Nat City L pr 1t Cont (bibe) Nat Fuel Gas (1), Nat Oil Prod (1) | Nat P&L pf (6) at Rub M a20c Nat Service Nat Service pt __ | Nat Sugar N J(2). Nat Trans biic _ | Nat Union Radio. Navarro Oil 4ue | Nehi Corp 5 | New Hav C1115 __ New Bradt'd Oil.. NJ Zine (12) ew M&A Ldalc Newmont M b1y N Y & Honbl%y _ | NY Mereh (8ue) NY On s war NY P&L pf (7) + Niag Hud Power | Nias HP1stpt s Niag H I'(A)war’ Niagara S B c | Niles-Bem-P (bl) Nipissing(b25c 1 (b4t orth Am L & P Nor Am L&P pf No Am Ray A b1 No Am Ra Northn Euro Oil Northern P L Tac Nort States P A Ohio Br (B) b11; Ohio Edis pf (6) | Onio Pwr pt (6) Okla Nat Gas - Okla Nat Gas pf - Okla N G cv pf 6 Oldetyme Dist . Overseas Sec 60c. | Pac GaE1st 114 | Pac Ltg pf (6) | Pac Tin spe (12) Pa Am Air (11) Pantepec Ol Parkbz R&R bine Pennroad (azic) Pa P&L pf (1) | Penna Sal « PaWat& P (4) Pepperell Mfg 76 Phillips Pkg a30¢ | Phoenix Secur | Phoenix S pf A 3_ Pierce Gov b, - Pioneer Gold 4/c_ Pitney Bow t40c_ | Pitts Forsing Plough Inc Towd'l1&Al b3 Premier G 11 Producers Corp _ | Prosperity Ba1 Prudential Iny | Pub S Ind prpt__ Puzet Sot P&L $5 pf b6 Y Pyrene Mfg b20c Quaker Oats (5) Quebec Pwr (1) [ Ry&Lt Sec al.55 Rainbow Lum A Raytheon Mf vte. Red Bank = | Reed Roll B 180c.. Reiter Foster Reynolds Invest_ Richmd Radiator Rio Gr Val Gs vie Root Pet (b2ic)_. Rustless | & Stl_. Ryan Consol Ryerson&Haynes Safety CH&L b4 St Lawrence C___ | St Regis Paper._. mson United _ covill Mfg (b1) cranton L, 1.20 Seeman Bros 121y Segal Lock & H Seiberling Rbber Selected Indus Sellnalletf 5% Seversky Afr. Shattuck Den Simmons H & P | Solar Mfg(b10c) - Sonotone (al0c¢) .. Soss Mfg (50¢) . So Pa Oil (711g) SoCal EdpfB1% SoCal EApfC13% Southn P L b20c South Union Gas._ Soutl'd Roy bzlc | Spencer C S bTic. Stand Dredging and Inv pf ww Stand Oil Ky 11 and Oil Ohio 1 Stand Pwr & Lt _ Stand S & L (4c). Stand Tube (B) .. Starrett Corp vt Sterchi Broa3oc . Sterchi Bro 1st 3_ Sterling Br bl0c Sterling Inc t20c. Stutz Mot C (d) _. Sunray Oil (b5c). Sunshine Min(3)._ Swiss Am El pf__ Taggart Corp Tastyeast Del A Taylor Dist 30c__ Technicolor a50c Tech Hughes t40¢ Texon Oil&L 60c Thew Shov a50c Tob Prod Exp 15¢ Trans-Lux t20c Transwest Oil Co Tri-Contl C war Ulen&Co 714 % pf Un G Can b273c. Utd Corp war Unit Gas Corp..4 Unit Gas war Unit Gas pf b3%_ Unit Lt& P (A) Utd L&P (B) Unit L&PpfA__ Utd Milk Prod(2) Unit Prof § bl0c_ Utd Shipyards A_ Utd Shipyds B _ Utd Shoe M t23% Utd S Mch pf 1.50 Unit Spec(b50c) US Lines pf US Play Cards t1 US Radiator U S Rub Reclaim Unit Stores vte . Unt Ver Ex (b1)_ | Unit Wall Pb15c Utah P&Lpf b13 200s Utah Radio Prod. 4 Utilities P&L(d) 1 Util PEL pf (d) .. 1008 Utility Equities. Utilities Indus._.. T S0 00 83 9 0 5 %D VENING STAR, WASHINGTON, D. C., 'TUESDAY, JULY 6, 1937. NEW YORK CURB MARKE High. Low. Close. 1412 14% 141 T 313 5 5 102 102 22 2 60 474 5% 141 491 e 8% 1 33 14% 124 21% 114 4% 214 116 4% 42 100 107 1064 5 s 12 974 3y 8 291 29 10475 10475 a1 41 69 67 24 114% 114% 114% 64 5% 6% 6 6 6 43 41% 43 28 28 28 1% 1% 6 6 21, 861 39% 13% 215 DIVIDEND BOOSTED ‘BY TRANSAMERICA Giannini Holding Firm Or- ders Payment of 25 Cents a Share. By the Associated Press. NEW YORK, July 6.—Transameri- ca Corp., a holding company directed by the Giannini interests, announced today a semi-annual dividend of 25 cents, payable July 31 to stock of record July 15. Previously the com- pany paid 20 cents semi-annually. Modine Manufacturing. Modine Manufacturing Co., maker of automotive accessories and air- conditioning equipment, Racine, Wis., ordered a dividend of 75 cents, payable August 2 to stock of record July 20. Fifty cents was paid previously. Automobile Finance. Automobile Finance Co. announced an extra dividend of 10 cents and the regular quarterly dividends of 10 cents on the common, payable July 15 to stock of record July 8. An extra dividend of 5 cents was paid April 15. Waukesha Motor Co. Waukesha Motor Co., Diesel engine manufacturer, announced an extra dividend of 25 cents on the common, payable July 30 to stock of record July 15 Axton-Fisher Tobacco, | #| Directors of the Axton-Fisher To- bacco Co.. Louisville, deferred action on the $1.50 quarterly dividend on the cumulative preferred stock, bringing unpaid accumulations to $3 a share, | The payment was omitted three months ago. NATIONAL INVESTORS REPORTS ASSETS DROP By the Asscciated Press. NEW YORK, July 6—National In- vestors Corp. reported net assets as of June 30 of $25295449, equal $7.06 a share on the 3,584,828 shares issued or issuable, excluding Treasury shares. This compares with net assets as of April 1 of $30.194.293, or $7.83 a share on the 3.860,313,561 shares jthen issued or issusble, excluding | Treasury shares. Washington Exchange SALES. ashington Rwy. & Elec. pfd—5 at! AFTER CALL. Washington Gas 1958—81.000 at 106, $1.000 at 104 | Capital Transit Co.—17 at 101, Real Estate Mtge. & Guar. pfd.—30 at 43, Bid and Asked Prices. BONDS. PUBLIC UTILITY. 41 5 MISCELLANEOUS. Chase Club 1st 41 104 Cold Storage 5s 100 STOCKS. PUBLIC UTILITY. & Tel (9) __ I Transit Co 2 Steamboat (8) Pot. Elec. Pow pid. (8) Po Po. 5137 DI (5.50) Wash. Gas Lt_Co. (3.60) er Wash. Rv. & EL com. (it Wash. Rv, & EL pid avings (e10) icoln (6525 | National Sav. & Tr. Liberty (11 Pr. Georees BX. & Tr. Rigss pid (3) _. Washington () Wash. Loan & Tr FIRE TITLE INSURANCE. Columbia (301 Real Estate (§) __ MISCELLANEOUS Carpel Corp (2.00) Lanston Moni haler Lino. (2.00) Peooles Dr. St. com. (%1.00) Peoples Dr_St. nfd 0) Real Fet. M& 7 Security ‘Storaze ( | Ter Ref & wh. corp. Wdwd. & Loth. com Wdwd. & Loth. ofd. (7)... 115 “Ex_dividend 3 b—Books closed. Ex rights. s extras. 27 extra 1157% extra. 3¢ extra paid June 30. 1036: 4%c paid De- cember 22. 1936. INSURANCE STOCKS NEW_YORK. July 6 (P.—New York Se- curity Dealers’ Association: Aetna Cas (%a) _ Aetna Tns (1.60) 2 Aetnz Life (80a) Am' Equit (1.60a) Am Reins (40g) |Am Reserve (1a) Am Surety (21, Automobile Balt Amer (20a) | Carotina (1 550y City of N Y (1.20 Conn Gen Lit (&) 1- Contin’ Cas (1.50) | Fid & Dep (41 Fireman's Nwk (5.30) _ Frank_Fire (1a) Gen Reinsur ( Glen Falls (1.¢ Globe & Rep (.80) Globe & Rut Great Amer (1a) Hanover (1.60) Hartford Fie (2) Home Fire Sec Home Ins (1a) Homestead (1) Knickerbocker Lincoln Fire Maryland Cas~ - Mass Bond (314) Natl Fire (2) Natl Liberty (20a) - N Hampshire (1.60a) N Y Fire (.80a) _ Nor River (1) Phoenix (2a) Prov Wash (1) Revere (P) Ins (1.30 Rossia Ins (0a) St Paul Fire () Springfield _(472a) Sun Life (7138) _ Travelers (18) U 'S Fire (2) _ Westchester (1.20a) _ a—Also extra or extras. &—Declared or paid so far this year. G 111 0 Bid. Asked. 86T a3 (807 e 2:30 Stockand Sales— Dividend Rato. Add 00. High. Low. Close. Venezuela Mex_.. 5 §6% 6% 6% Venezuela Pet .. 13 2 1% 2 Voght M Co80c.. 2 11% 11 11 Walker Minmg._.. 2 2% 2% 2% Wentworth bl5e. 1 5% 54 5% W VaCoal&C . 1 4 4 4 West Tex Utpf 6 508 77 76% 76% WilliamsRC60c. 4 8% 8 8% Wil-Low Cafe(d) 2 el % Willson (t1) _ 1 15% 15% WolverinePC.__. 3 4% 4% Wolverine b40c _ 13 13% 13% Wright Hars t40c 1.8 6 Yestn St1 Dbl 4 67% 654% Yukon Gold (b6c) 2 2% 2% Dividend rates in dollars based on last puartly or semi-annual payment. tAn- nual rate—not including extr, 1Ac- cumulated dividends, s Paic year. b Paid this year. d Companies reported as Bt skt e & ng_reorgs: r sct. or securities assumed by such com- panies, . to | 3 | field this Fall. 1929 1930 (in Millions of Dollars) .153 165 170 1 181 190 SOURCE OF DATA: FEDERAL RESERVE BOARD 1933 1934 Postal Savings Deposits in the United States-1929-1937 1935 (In Millions of Dollars) Jan. ...666 Mar. ..706 May ..743 July ...830 943 | 14 1180 "nmn 1181 129 1 1934 1200 1197 1190 1193 201 1201 1203 1205 1189 1192 207 1201 FINANGLAL. A—19 RESULT OF RISING COSTS AWAITED Quarterly Reports Expacted to Show Extent of Profits Cuts. By the Associatea Press, NEW YORK, July 6.—The question of how deeply profit margins of ine dustry have been affected by increased costs will be answered, in part, at least, by second-quarter earnings state ments, due to appear soon, business analysts believe Reports for the March quarter gave some outline of the story, particularly as to the effect of higher costs for commodities and raw materials. But there have been new develop- ments in the operating expense realm, particularly in the wage accounts, and it is believed these will be more accurately mirrored in the income statements for the June quarter. While wages generally have been rising for more than a year, the trend gained considerable acceleration in the last three months. And in view of the | importance of the wage item in op- erating costs, analysts are disposed to discount some narrowing of profits in ok 1936 NEW YORK COTTON By the Assocfated Press. NEW YORK, July 6—Cotton was steady today on scattered foreign and domestic buying promoted by unfavor- | able eastern belt weather and several private acreage reports indicating smaller increases than anticipated. Trading was quiet but with con- tracts scarce, October easily rallied from 11.97 to 12.13. In midafternoon it sold at 12.11 Prices generally were 2 to 12 points net higher Futures higher, closed steady, 1 Low lower to 7 Close. July Rt | October December January March 2 | May 313 Spot steads: middling Cottonseed Bleachable cottonseed oil closed firm, 11 to 15 higher. 53 contracts. July, 9.23b: September, 9.22b; Oc- tober, 9.20: December, 9.14; January, 9.18. b—Bid. futures Sales, New Orleans Prices, ribwed e Govern- day b October at at 1202 Janua 1211 and May July op, December March a i n he end of the frst hal al market was steady and 1 X points up compared with i point down to Tiday s close. oil September. 8.58b opened 8 Kb January. steady. October 5%, July 881k VISIBLE GRAIN SUPPLY. NEW YORK, July 6 () —The| visible supply of American grain | shows the following changes (in bushels): Wheat increased 5,079,000, corn increased 749,000, oats decreased | 356000, rye decreased 81,000, barley decreased 288,000, BENDIX TO DIVERSIFY. NEW YORK, July 6 (#.—In an effort to diversify its business. Ben- dix Aviation Corp. has announced that it will enter the home appliance CHICAGO LIVE STOCK. CHICAGO, 3.000 -~ direct: butchers and light hogs full ¥'s average: 11.000: calves. 2.000: another et on fed sicers. srassy and kinds so numerous a week ago very scarce and sharing fed steer advance: all excent few loads choice and prime me- | dium weight and weighty steers bringing | new high prices for the vea weighty steers highest | severa 5.5 offertng. r and choice n erop: top. 18.25: | 16.00: most grain-fed | -15.50: grassy and warmed up_ kinds 00 down to 3.25: little be. Io : stockers and feeders. 75 high. er. other killing classes very active. gen- erally 5 “higher: all interests waniing | erass cows and grass heifers: cutters. 5.2 | down: fed cows. up to 10.00: prime | ling “heifers 1475, against 13.50 weighty sausage buils. up to 9.50-75, with medium kind | heep ' 5.000. including 2 000 direct: | Spring lambs and vearlings active. 13-30 higher: good to choice native Sprinzer 1100-85: top 11 good fed California Spring 'lambs _(wooled). 11.25 “straight seven doubles Idaho Springers. 11.50: eral medium fed Texas vearlings. S sheep firm. slaughter ewes. 3.00-4.50. SHORT-TERM SECURITIES. (Reported by Chas. D. Barney & C3) Amer Tel & Tel 513 10 Auburn Auto Co 4345 10: Baldwin Loco Works. 5s Calif Packing Corp 55 1940 104%s Caro. Clinch & Ohio_5s 1938 103 Chesa & Ohio Rwy 55 1933 1068 Edison ‘Eléc Ilum s 19 10435 General Pub Jerv 5izs 1 Grand Rap & Ind 4125 1941 | Houston "Oil 5125 1930 | intern Merc Marine 6s 1941 Intern Tel & Tel 4125 19 Laclede Gas Light : Lehigh Valley' Goal 65 Lehigh Val Term Ry 5s Lons Isiand Gen 4s 1938 | Louis & Nash RR 4s 1940 Michigan_Cent RR 4 idiand R R of N. J 5s Milw & North RR 3135 NY. C&SLL 6 N New York Dock 5s N V. Susq_& West 5s New York Tel Co 4145 1930 Pac RR of Missouri 45 1938 Benn-Dixie Cement 6s 1041 Penna RR Co 45 1043 Rio Grande Western 4s 1039 Pac RR of Missouri 4s 1038 Vanadium Corp 55 1941 Vertientes Sugar Co 7s 1942 Wabash Rwy Co 3s 1939 Warner Brog 65 1038 - Western N Y &_Pa 45 1043 Western Union Tel 55 1038 " FOREIGN MARKETS. LONDON. July 6 (®.—Stock prices closed firm. with a fairly good demand for all sorts of securities. " Gilt-edged shares and German bonds closed higher, and the industrial group was strong. tobacco. chemical and shipping issues moving up- ward. ~Trans-Atlantic shares and home rails held steady. and oils and mining stocks finished higher. PARIS.—The Bourse closed generally firm and most sections were higher in value. Rentes gained 185 to 210 cen- times and Royal Dutch moved up 50 francs. Bank of France sold 125 francs down and Buez Canal lost 200 franc: NEW YORK SUGAR. NEW YORK, July 6 (#).—Sugar futures were fairly active today and prices firmer on increased covering and buying by trade and commission houses, encouraged by steadiness of the London market over the holiday and continued firmness in the spot market. July 'No. 3 sold up from 2.58 to 2.61 and September {rom 2.55 to 2.56 or 2 to 4 points net higher. "In No. 4 September sold up from 1.2 1.2312 and May to 1.34 or 1% points net higher. The mar- ket at 2 p.m. held around the best. METAL MARKET. NEW YORK. July 6 ().—Copper steady: electrolytic spot and future. 14.00: export, 14.12'. Tin firm; spot and nearby. 59.00- 5913 future. H 58.50-58.6215. "~ Lead steady: ' New York spot. 6.00-6.05: East St Louls spot. 5.85. Zinc steady; East 8t. Louis spot and future, 6.75. Iron. No_ 2. f.o.b. Eastern Pennsylvania, 25.01 Puft imf num. virgin, 99 per cent 00: Alabama. 20.00. Antimony _ spot_ 4.12, | | | | to A 20.00-21.00. 96.50-98.00. Platinum, ieksilve 40,551 tramite, 24.00-25.00. b—Bid. | DALY OIL QUTPUT UP1 408 BARRELS Oklahoma Average Declines, While Texas Reports Further Increase. By the Associated Press. TULSA, Okla.,, July 6—Production of crude oil in the week ended July 3 increased to an average of 3,539,555— an increase of 1408 barrels—daily, Oklahoma registered a decline of 2475 to 619.600 barrels daily Texas was up 2,515 to an average of 472,015 and all of Texas had an in- | crease of 4779 barrels to 1,428,222 barrels daily. Louisiana had an increase of 5,904 to 266,609 barrels daily. Kansas pro- duction declined 6,025 barrels to 193 .- | 000 barrels daily and California had an increase of 1,250 barrels daily to 655,750, Eastern States, including Mirhigan, decreased their production 1065 to 163,119 barrels daily Mountain section had a decrease of 1,090 to 70,190, U. S. TREASURY NOTES. NEW YORK. July & (P in dollars and thirty-second Mo Sept es quoted Approx ¥r 1o 101 100749 100 4 10023 1013 100 100 1008 1003 an.1§ R 0% 10011 1006 1001 99 14 a8 25 1006 Keystone Steel & Wire Co.—Earn- ings for year ended June 30 were ex- | pected to be around $1.50 a share. OFFICE FURNITURE WE SELL, BUY OR EXCHANGE Desks Steel Files Tables Steel Cabinets Chairs Safes BAUM’'S FURNITURE HOUSE 1116 Eve St. NW. Phone NA. 2184 Property Management I.NSTEAD of worrying with the details of management of your apartment house and residential properties, give ther over to the charge of our Prop- erty Management Department— With its long experience and effi- cient organization. B. F. SAUL CO. 925 15th St. Nat'l 2100 Mortgage Loans RELIABLE while the Rocky | following history put tot BOSTON No. McLachlen B Steel Sc,rap Price Is Raised Another 50 Cents Per Ton oune E» the Assoctated Pres NEW YORK, July 6.—A rise of cents a ton in the price of No. 1 heay melting steel scrap at Pittsburgh second in less than a week, was report ed today by Dow, Jones & Co., making | the Pittsburgh price $19 to $19.50 The boost was seen in steel circles as indicating higher steel operations plants and the July 4 holiday. The upturn is the first since a de- cline set in last March from around $24 a ton, the highest in 14 years. PACKARD OUTPUT SOARS. NEW YORK. July 6 () .—Packard Motor Car production for half of the year was the highest for any similar period in the companys | an official announced led 6,216 units, compared with | 36,418 last | BOSTON WOOL MARKET. | certain forthcoming statements o Most industries have been affetted by the factor of increased costs, but the results in terms of profit changes are believed to vary wide! red some have been able to effect of economies through eas by | tion and | products. In competitive conditions and ot tors are believed to have m against any substar | exy bu Mak tenta | creased cost inf dustries, recent trends. A study of wage-level | Standard Statistics Co. | centage increases ra 71 per cent in hourly 1933. The greatest s ported for such industri goods, lumber, iron ar furniture and automobi and phonograph. agric ment and meat produ ng prices of their er fields, however, the uence in various nalysts have been g surveys of wage and reopening of strikebound repo; as cotton steel, cer the first Oui-| NEW YORK BAR SILVER ar. NEW YORK. July 6 (¥).—B; July 6 (& (U. 8. Dept First Trust Notes Conservative Loans On Small City Properties REAL ESTATE LOANS 5% FRED T. NESBIT 1010 VERMONT AVE DISTRICT 9292 RESIDENCE and SMALL BUSINESS PROPERTIES. N normal times a bank puts its depositors’ money to active business use for the benefit of depositors, the community and the bank. A reasonable amount is kept on hand for customers’ daily busimess needs. A bank is not simply a storage vault for money. Consequently it would ordinarily be impossible for all depositors to withdraw their money at one time, if they desired. It takes time to conwert all of the assets of a bank into cash. Ekectric_companies, for in- stance, would find it difficult to supply the simultaneous demand if every customer turned on all switches at the same time. No theatre could bold all patrons if they decided to go at the same time. This bank, like other banking institutions of the country, is able to serve all customers on the basis of normal daily withdrawals and deposits. anking Corporation TENTH ANDS‘HC;. ;’BI:IZEE_'I'S, N. ¥. S.W. Branch, 12th and Maryland Ave. S.W. SOUND ‘OFFICERS' CHARLES KATTELMANN, VICE PRESIDENT WILFRED H. BLANZ, SECRETARY GUY M. NEELY, TREASURER Member Federal Deposit Insurance Corporation NO COMMISSIONS RENEWALS UNNECESSARY cApplit“ations invited for LOANS on improved 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. The American has been helping the people of Woashington to aequire homes for the past 63 years. American Building Assoriation 300 Pennsylvania Ave. S. E. ASSETS TELEPHONE LL 0130 OVER $9,700,000 UNDER U. 8. GOV'T SUPERVISION