Evening Star Newspaper, July 7, 1937, Page 18

Rk FINANCIAL,' THE . EVENING STAR, WASHINGTON, D. C, WEDNESDAY, JULY 7, 1937. FINANCIAL. INSURANCE MEN TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE[STI({SNOVELP Prev. 1937 Btock snd Bigh. Low, _‘Dividend Rate. Md o 80 63 Radio lst pf (3%4)_. 9 Adfl 00. High. Low. 74 36% 36 High, l.ov Close. zhn % Add 00 High. Low. Close. II‘- 4 11% 697 11% 11% + % 693, 80 Higl mw Five Prominent Executives and 48 Field Workers to Dividend Rate 103 103% + Speak at Conclave. BY EDWARD C. STONE. Five prominent insurance corapany officials and 48 field men will address the main sessions of the forty-cighth annual convention of the National Association of Life Underwritzrs to be held in Denver, August 23 to 27, according to National Program Chair- man O. Sam Cummings. Many promi- nent members of the District Life Underwriters Association are now arranging to attend the conclave. ‘The speakers include: O. J. Arnold, president of the Northwestern Na- tional Life; Alexander E. Patterson, vice president of the Penn Mutual Life and until December, 1936, president of the national association; Henry E. North, vice president of the Metro- politan Life; R. B. Coolidge, superin=- tendent of agencies for the Aetna Life, and William P. Worthington, superin- tendent of agencies for the Home Life of New York. Mr. Arnold’s topic will express the theme of the convention, “Social Se- curity Through Life Insurance,” and Mr. North will deliver the address at the commencement of the American College of Life Underwriters, “The Coming Decade—a Decade of Expa! « sion.” “Building Your Own Securit; will be Mr. Coolidge's topic, while Mr. Worthington will be the principal speaker at a seminar session on “Pro- gramming.” Beginning on Wednesday morning and continuing through to the final session on Friday, the convention, de- signed particularly for the “average” producer, will present on the speaking program field men with outstanding {deas on various phases of life insur- ance selling. Investment Buying Spreading. Tt was reported today in New York Btock Exchange brokerage offices here that investment buying recently has shown quite a notable increase. In- vestment purchases had revealed a moderate increase before the market started its sensational rise of the last two days. ‘Washington bankers also report a similar trend in the investment field. They say the funds taken from banks have been placed in real estate, as well s in stocks and bonds. Bankers gave this investment turn as one of the reasons for the drop of more than $32,000,000 in aggregate deposits in the banks here since the March call. Bankers said today that the sea- gonal slump in deposits reported yes- terday was due to efforts to evade the personal tax more than tc any other single reason. Funds withdrawn this year and put into safe deposit boxes or tax-exempt securities are said to have been the largest in the financial history of the city. Financiers sug- gested that the only way to check such large withdrawals would be to place the personal tax on the average de- posit of a depositor for the whole year. Several bankers said that such a law would stop up the “loophole.” They added that deposits are already eoming back rapidly, and are now much larger than on June 30, the date of the controller’s condition call. S. E. C. Rules on Gas Issues. The Securities and Exchange Com- mission has issued an order exempting from provisions of the holding com- pany act the following transactions by the Washington Gas Light Co.: Issue and sale of 20,000 shares of $4.50 no-par cumulative convertible preferred stock: Issue and delivery of warrants to subscribe to 3,201 shares of $4.50 no- | par cumulative convertible preferred stock; Issue and exchange of 390,000 shares of no-par common stock for the exist- ing 130,000 shares of $20 par capital stock, and the Issue and exchange from time to time of such number of shares, not exceeding 60,000, of no-par common stock as may be required when and as such holders of preferred stock may elect to exercise conversion rights. Board Rooms Again Thronged. Brokerage offices were crowded to the doors again today, the second since the New York stock market has come to life after a long nap. Seats were filled at the opening. Observers witnessed the market absorb a lot of profit taking and then start to work higher. A. S. Goulden & Co., Woodward Building, announces that Massachu- setts Investment Trust has increased the management board from three to five members by adding Dwight P. Robinson, jr., for several years the trust's director of research, and Ken- neth L. Isaacs, assistant director of research and formerly assistant to the controller of Cornell University, who was in charge of the endowment fund. The other board members are Merrill Griswold, chairman; L. Sher- man Adams and Charles F. Rowley. Charles Harrison Mann, associate general council of A. S. Pratt & Sons, Washington, was one of the speakers at the annual convention of the Wis- consin Bankers' Association, his sub- Ject being “Federal Control of Eco- nomics and the Banks.” Stuart S. Ogilvie, assistant cashier, Becond National Bank, attended the annual convention of the National As- sociation of Credit Men, in Chicago last week. Financial District Gossip. Ord Preston, president of the Union Trust Co., is back at his desk after & few days at the Homestead, Hot Bprings, Va. Lanier P. McLachlen, president of the McLachlen Banking Corp., is tak- ing his annual vacation. G. Bowle Chipman, manager of the Washington office of Laidlaw & Co., leaves here next week for a trip to Europe. Alfred H. Lawson, vice president and trust officer of the Washington Loan & Trust Co., has gone to Europe for his vacation. An additional distribution of 10 per eent to depositors of the Baltimore Trust Co. has been authorized by the Circuit Court, the amount involved in the payment being $2,229,146. This will bring total payments up to $20,- 917,146, Class 1 railroads in the Southern district for the first five months of 1937 had & net railway operating in- come of $36,075,450, against $27,683,- 018 in 1936. The State-Planters’ Bank & Trust Co., Richmond, made a brilliant show- ing in the first graduating class at the Graduate School of Banking at Rut- gers. Carlisle R. Davis, Hubbard 8. Lafoon, M. P. Patterson and J. Har- vie Wilkinson, jr., as well as A. E. Willson Harrison, are back in Riche mond with the coveted sheepskins. ) 44% Abbott Lab (11.60)_ 63% Acme Steel (¢) .____ 156 Adams Exp (b30c). 22% Adams Millis (bl)_. 6414 Alr Reduction (t1). 2 AfM-Way Electric_.. 11 Alaska Jun (1600).. 2% Alleghany COrpeee 34% Alleg pf WWw $30.cun 34 Alleg pf ww $40_.. 17'/. Allen Indus 1) 258‘/2 215 Allted Chem «6) ____ 20 Allied Milla (b2).__ Allied Stores (b20¢) 57 Allis-Chalm (b1)__. 23 Alpha Port Cmt (1). 4% Amal Leather______ 80 Amerada Corp (2)__ 83 Am Ag Ch Del b215. 20% Am Bank Note (11). 59 Am Bk Note pf (3).. 57% Am Brake Sh b3 __ 90% Am Can (t4) _ 46 Am Car & Fy (b25¢) 77 AmCar & Fy pf(b4) 28 Am Chain & C b50c. 115 Am Chain & Cpf 6. 98 Am Chicle (t4)_____ 13% Am Colortype 20% Am Comecl A} ISOG.. 25 AmCrysSugb2%.. 88% Am Crys S 15t pf 6.. 5% Am Encaustic. 61 Am & Foreign Pwr.. 37 Am & For Pw $6 pf_. 45 Am & For Pw $7 pt_ 18% Am & For Pw 2d pf. 14% Am Hawailan (1).._. 5% Am Hide & Leather. 86% Am Hide & L pf (3). 2l Am Ice . 21 " 8314 39% 8 1147 15 148 106 23% 303, 330y 99h 124 Am Internt] (a40c)- 37 Am Locomotive _.. 125 101% Am Loco pf (a3) .. 18% Am Mach & F' (11)_. 13‘) 7% Am Mach & Met 60c. 68% 43% Am Metals (b25c)_. 162 7 Am Power & Light_. 722 40% Am Pw & Lt pf (5)_. 8Tia 49% Am Pw & Lt pf (6)_. 18% Am Radiator 160c__ 31% Am Roll Mill (2) ... 26% Am Safty Raz (t2)_ 224 Am Seating (b25c)_ 41 Amshipbldg (12)__. 79% Am Sm & Ref (3)._. 154 138‘1 Am Sm & Ref pf(7). 67'% 524 Am Snuff (13) ____. 3% 48% Am Steel Fdy (b1)._ 26'% 157 Am Stores (b1} )__ 567 37 Am Sugar Ref (2)__ 1433% 1241 Am Sugar pf (7) 187 159% Am Tel & Teles (9). 99 73% Am Tobacco (5)_ 9974 741x Am Tobacco (B) 5. 150% 128Y% Am Tobacco pf (6 20% 15% Am Water Wks 80c.. 7% Am Woolen . __ 54!z Am Woolen pf (b2). 6% Am Zinc & Lead __ 47% Anaconda Cop b75c- 18 ~ Anchor Cap (60c) 39% Archer-Dan-M(12)_ 116% Archer-D-M pf(7).__ 7 Armour of 1li(b35c) 6 Armour(1l1)pf(7) __ 57! Armstrong Cork(2). 11 Arnold Const b7sc.. 153 Assoc Dry Goods 92 Assoc Inv pf ww(5) 6915 Atch T & S Fe (b2)_ 441 AUl Coast Linetal) . 17! Atl Gulf & Wst Ind. AtlG& W I pf(a3)_ 7' AU Refining (11) 15 Atlas Corp (80c) . 50% Atlas Corp pf (3)__. 681, Atlas Powder bl%_ 13" Auburn Auto ' Austin Nichols _ 30 Austin Nich pf (Yl)~ 5% Aviation Corp Del.. 4% Baldwin Loco (d)-_ 4% Baldwin asd (d) ... 7315 Baldwin pf asd(d)-. 20% Baltimore & Ohlo_.. 27% Baltimore & Oh pf__ 3813 Bangor & Ar (2%)._. 273 Barber Co (b25¢) .. 22 Barker Bros 34 Barker Bros pf IK. 23'4 Barnsdall (1)______ 21Y; Beatrice Cream t1_. 11% Belding Hemin (1) 184 Bendix Aviat'n b50e. 20% Benef IndL b1.323 73 Belhlenem Steel (bl % of (1) 5114 Bigelow-Sanf'd bl K 24 Black & Decker (1). 22 Blaw-Knox (b45c). 27% Boeing Airplane _. 37 Bohn Alum & B(3).. 2113 Borden Co (1 60) _. 387 Borg-Warner (2) 8% Boston & Maine . 15 Bridgep't Brass(1). 39% Briggs Mfg (bl13%)_ 393 Bristol-Myrs 12.40 _ 18!3 Bklyn-Man T (b234, 65% Bklyn-Man T pf(6). 2% Bklyn & Queens ___ 15 Bklyn & Queen T pf. 264 Bklyn Un Gas(1.60) 43% Brown Shoe (3) ___. 16% Brunswick-Balke.. 14% Bucyrus-Erie___. 7% Budd (EG) Mft.--. 58 Budd (EG) pf_____. 71 Budd Wheel b20c_. 30% Bullard Co (b50c)_— 504 Bulova Watch (t4). 22% Burr Add M (80c) .. 4% Bush Terminal 15 Bush Terminal d. 24Y% Bush T Bldg pf cod- 127% Butler Bros (60c). 28% Butler pf (1%) . 4% Butte Cop & 7(!5!:). 171 Byers (A M) __ 67% Byers (A M) pf____. 25% Bvron Jackson (t1). 35% Callf Packing (1%). 2% Callahan Zinc-Lead 12 Calumet&Hec b75c_. 24 Campbell Wy (t1)_. 231 Canada Dry G Ale_. 96 Car Clin & O stp (5 30 Carpenter Stl b1.35. 6% Carriers & G (b10c). 138 Case(J 1)Co (4) __. 85 Caterpillar Tr (12)._ 26% Celanese Corp bl 106' Celanese pr pf A(7). 361 Celotex Corp b40c__ 73% Celotex Corp pf(5)_ 30 Cent Aguire (t1%)_ 615 Central Foundry 96 Cent I1]1 Lt pf(43%)_. 18 Central RRof NJ_. 60 Cerro de Pasco (4)._. 11% Certain-teed Prd. 48Y% Certain-teed pf _ 1 35% Champion P&F bl% 67 Chesapeake Crp(8). 50% Ches & Ohito +2.80 _ 91 Ches& Ohpf A (4)- 6% Chi & Est [11 pf (d). 2 ChiGrt West (d)__. 8% Chi Grt West pf (d) 24% Chi Mail Ord t11% __ 1% Chi Mil St P&P (). 3% Chi M St P&P pf(d). 35 ChiPneuT pf (3)-. 2 ChiR1&Pac(d)._. 3% Chi RI&P 6% pf(d). 4% Chi RI&P 1% pf(d). 14 Chi Yellow Cab (2)_ 16% Chickasha Cott'n Ofl 9% Childs Co 46% Chile Cop(b75c) .. 94 Chrysler Corp b3%. 174% City Ice & Fuel (2)_ 80 City Ice& F o2 6% 6% City Stores 324 Clark Equip 113 102% Clev EI [1lu pf 4% 44% 35 Clev Graph (b1) 28% 23% Cluett Peab'y b25c... % f Cluett P rts July15_ 170% 122% Coca-Cola (+2) __. 25% 17% Colgate-P-P(¥60c). 104% 102 Colgate-P-P pf (6). 62% 47% Collins & Afkn (12). 51% 31 Col Fuel & Iron(bl) 27% 15 Colo & Southern __ 20% 10 Columb G & El(40c) 108 80 ColG&EDfA(6)__ 39% 281% Columb Pic wte (t1) 126% 111 Col Carb vto (14).. 69% 564 Comel Credit (14) 114 100 Comcl Cred pt (4%) 80% 63% Comel Inv T (t4)_.. 21% 13 Comecl Solv ('I 4% 2 Comw & 8 - 5% 46 Comw & S Dl(lf 45% 34 Congoleum-Nrn(3). 83% 19% Consol Alroraft..au ).. 11% Am Type Founders. . Add 00. Bl[h. Low. Close. chge. 1 48% 468% + % % +1% 18% + % 75 177% 23% T1% 2%, HE A b 444 P Sex 4+ 4 sgsfe - FES Ph++ 1 ++1 P 2 5 = % 1 + 158% 158% + 19% 19% — 102% 1025 — 624 624 +1% 100% 104% +1% 65% + 1 14% + % 2% 52% +2% 37% + % WK + W 99% Cons EA N Y pf(6).. g 2 Cons Film ___ 10 Consol Film pf(a2). 9% Cons Laundries 834 Cons Coal(Del) vto_. 103% 3% 11% 10% 3% 3% + 1% 11% + 10 16% 5% 19 b 33 Cons Coal Dal vto pt 1308 20% Container Corp 1.20. 18% Contl Baking (A)... 2 Contl Baking (B)... 60 ContlCan (8).._... 181 Conti Diamond (2) . 35% Contl Insur (1} 2 Contl Motors. 39% Contl O1] Del (11)-- 25 Contl Steel (1) __. 6215 Corn Ex Bank (l)-‘ 547 Corn Prod Ref(13) _ 153 Corn Prod R pf (7). 6 Coty Inc.. 40 CraneCo.. 113% Crane Co 1004 Crane Co cv pf (5)-. 287 Cream of Wheat(2). 184 Crosley Radioall . 68 Crown Cork & S(2). 89 CrnC&Spfxw2%.. 16% Crown Zellerb_.._.. 7‘¢ Cuban-Am Sugar... 813 Curtis Publishing.... 71 Curtis Pub pf (7 5 Curtiss-Wright 16% Curtiss-W (A) 1273 Davega Stores(t1).. 19 Davegacumpf13. 99% Dayton P&L pf ¢% - 137'5 104% Deere & Co . ____.. 313 2514 Deere & Co pf 1.40_. 29 17% Delsel-Wem-G(t1)_ 58% 33 Delaware & Hudson 2413 13% Del Lack & West___ 10% 4 Den& RG W pf(d). 146% 110% Detroit Edison (t4). 761 59's Devoe & Rey A(13). 3613 26 Diamond Match (11, 14% Diamond T Mot (1). 20% Distil Corp Seag 80 Distil C Sea pf ww 5 34 Dixie Vortex A 234 _ 85 Doehler Die Cast(2) 3814 Dome Mines (t2)__. 9% Dominion Stores. 474 Douglas Atrcraf 2413 Dresser B (al) __. » Dunhill Internatl_ Du Pont de N(b2%) 9% Eastern Roll Mills_. 176'3 151 Eastman Kodak (8) 2 29% Eaton Mfg (2)._ ... 10% Eitington-Schild. 343, Elec Auto-L b1.40. 9% Elec Boar (aB0c) .. 4'3 Elec&Mus I (al8¢c). 14'4 Elec Pow & Light__ 58!3 Elec Pw & Lt $6 pf_ 62 Elec Pw & Lt $7 pf_ 3213 Elec Storage Bat (2° 3 Elk Horn Cl ptf (d) .. 21% El Paso Nat G 1.60_.. 8 Eng Public Serv__ 59 Eng P S $5 pf (b5) 63% Eng PS pf ww bils. o buunanl- Office B__ 4 « Erie R R 2d pf 7' Eureka Vacuum 18 Evans Prod (11) 2% Exchange Buffet. 3 Falrbanks Co.. 203 E uirbanks Co pf.. 49'3 Fairb'ks-Morse ( 45'3 Fajardo Sugar (b2). 16% Federal Lt & Trac_. 88!; Fed Lt & T pf (6)._. 66'2 Fed Min & Smelter_. 6% Federal Motor(40c). 3 Fed Water Sve A __ 311 Fed'd Dept Str(2) __ 9213 Fed'ted Dep S pf 41§ 36 Fidel Phoenix 11.60. 31 Firestone T&R (2). 3913 First Natl Strs t215 26% Flintkote Co (1) .. 4% Follansbee Bros(d). 47% Food Machine (1) __ 128 108 Food Mach pf(4%). 37'% Foster-Wheeler 77 Francisco Sugar-... 24% Freeport Sulph (1) 5 wafoselBarnten 45 Fuller Co pr pf_.... 21 25 Fuller Co 2d pf. 415 Gabriel Co (A) ... 11% Gair (Robert) . 11 Gar Wood Ind b25e. 10'3 Gen Am Inv(a75c) .. 6213 Gen Am Trans b1, 10% Gen Baking (160¢) .. 34'3 Gen Cigar 49% Gen Electric (bs( 36 Gen Foods (2) _ 1'3 Gen Gas & Elec(A). 60 Gen Mills (3)_. .__ 48'% Gen Motors (b13;)_. 1225113 Gen Motors pf(5) 15% ' 874 Gen Outdoor Adv__. 2 Gen Outdoor Adv A. 15 Gen Print Ink b30c. 34 Gen Pub Service .. 41% Gen Ry Signal (1).. 3 Gen Realtv & Util.. 31 Gen Realty & U pt. 5 Gen Refract (b2) 48 Gen Steel Cast pf. 20% Gen Thea Ep(b50: 342 Gen Time Instru 1. 14'% Gillette S Raz (11). 20% Gimbel Bros. 80 Gimbel Bros Bf(fi)_. 40% Glidden Co (12) - 4 Gobel (Adolf) ___ 5% Goebel Brew('zflc). 31 Goodrich(BF) bs0c.. 777% Goodrich pf (5) ... 273 Goodyear T & R bl 100 Goody'r T&R pf(5)- 7% Gotham Silk Hos 82 Gotham S H pf (7). 3 Graham Paige Mot.. 6% Granby Cons._ 2 Grand Union ctf; 32 Granite City sty 34'% Grant (WT) (11.40) 40% Grt Northern pf___. 17% Grt Northn Ore (1) 4 34 Grt West Sug 12.40. 145%; 135 Grt Wst Sug pf(7)_. 393 27% Green(HL)(11.60)_ 16% 12% Greyhound (t80c)_. 17%2 10 Gulf Mobile& N___. 5915 44 Gulf Mobile & N of. 36 26% Hack W pt A (1%). 20% 13% Hall W F Print 31 25% Hamilton W (b65e). 108 103 Hamilton W pf (6) . 58% 40 Harb-Walker (t2)_. 17% 10% Hat Corp of Am 80e. 8 4 Hayes Body 109% 100 Hazel Atlas Gl (t5) 15% 11% Heckers Prod(160c) 39% 24 Hercules Motor(t1) 111 102% Hershey Ch pf(t4)_. 35% Holland Fur(al%)- 21 Holander & Son(1). 29Y% Holly Sugar (b2%). 47 Homestake b37%;c.. 18 Houd-Her B (t1%). 121% Houston Oil VtC_.oa 62% Howe Sound (13)... 2% Hudson & Manhat.. 13% Hudson Motorcem 3 Hupp Motor.. 21 (llinois Central... 43 Illinois Cent pf A 60% I11 Cent Is In (4) —cce 121 Indian Refin (&1) ... 33 Indus Rayon (2).ee 94 Inland Steel (14) oo 17% Inspiration CoD.... 4% Insur Sh Md (b10c). 5% Inter Rap Tr vtc(d) % 41 Interchem Corp(t2) 111% 107% Interchemical pf(6) 28% 16l Lnterlake Iron.___... 9% 5 Intl Agricultural . 631 42 Intl Agriprpf(b3). 189 146% Intl Bus Mach(t6)_. 112% 99 Intl Harvester(2%) 16% 8% Intl HydroEl A ... 15% 6% Intl Mercantile M_. 18% 10 Intl Mining (b30c) 73% 55% Intl Nickel (b1).. 24% 16% Intl Paper (A) caeee 18 10% Intl Paper (B) caaee 9% 5% Intl Paper (C) camee 121% 90%.Intl Paper pf - __oe. 10 5% Intl Ry Cent Am. Intl Salt (11%)_ 41% Intl Shoe (12) _. 31% Intl Silver. 9% Lntl Tel & Tel L 20% Interstat Dp St b2} 17 Intrtype Corp b30c_. 69% Jewel Tea (14) __. 136 117% Jon&L 7% pfb3%.. 46 28 Kalamazoo8 (11).. 29 15 KansCity South___. 44% 25 Kans City 8o pf(al). 35 25 Kaufmann (11.60).. 23% 12% Kelsey-H A (81%) - ) B B S o o B o I P o I O S B + | " 63% + % + % +2 -2 s 39% +1% 11!% 111% —1% 26% 25% + % 4% 4% — W 6% 6% — % 55% 55% + % 111 lll 153% 153% +2% 109% 109% — % 1% 11% + 9 — 184 + 61% + 18% + 13% + 7 FEEFFEL 44 I 'l 129% 128 308 123% 1231 128% 2208 120 120 120 3 31 30% 31 + %K 7 19% 18% 18% 6 30% 30% 30% +3 9 2T% 27 2TH+ U 3 15% 16% 18% + % 51 Kennecott Cop b1%. 14Y% Keyst'e S&W b4bc_. 38 Kimberly Clark(1)._ 5 Kinney (GR) Co-.. 47% Kinney pf (a1) - 34% Kinney (GR)pr pt 5. 20% Kresge (S 8) b80c.. 31% Kress S H (1.60 18 Kroger Groo (11.60) 15% Laclede Gas (St L). 23% Laclede Gas pf..... 18% Lamuvert Co (2) 17 Lee Rubber (b1)_.__ 82 Leh PortCmt1%__. 15 Lehigh Valley Coal. 8% Lehigh Val Coal pf. 20% 46% 9% n 361% 29%, C 4Ty 24% 27% 41y 24 27% b1l 3% 18t 24% 431 58% 79 15% 28%, 114 83% 61 40 Lerner Stores(12).. 684 Libbey-Ow-F b76c.. 9% Libby McN & L(a1). 25% Life Saver (11.60)_. 94% Ligg & Myers B t4.. 59 Lima Locomotive... 51% Link Belt (+2) . ___ 43% Liquid Carb (2.60) .. 8412 64% Loew's Ino (2) ... 3% 1 LoftInc - 75% 60% Lone Star Cem ( 10% 5% Long-Bell Lumb(A) 43Y% 28Y% Loose-Wiles (2) __. 28% 20 Lorillard P (+1.20) . 147% 128% Lorfllard P pf (7). 28% 19% Louis G&E A b37%¢ 824 Louls & Nash b2 _. 29% Ludlum Steel (t1)_. 24% McCall Corp (13) 14% McCrory sStores . _ 40% McGraw Elec ('2) - 32% Mclintyre Porcu(2)_ 314 McKeesp't Tin P(2) 125% McKesson & Rob .. 42% McKess & Rb pf(3). 12Y% McLellan Strs b756. 40% Mack Trucks (t1)__ 44 Macy (R H) (+2) __ 10'% Mad Sq Gard b1.15_. 42 Magma Copper (2)_. 3% Manati Sugar (d) 14 Manati Sug of (d).. 18% Manhat Shirt (1) .. 31% Maracaibo O1l Exp.. 9% Marine Mid (140¢c) .. 19'% Market St Ry pr pf_ 39% Marlin Rock (12) 187 Marshall Field 19% Martin (Glenn) 7 Martin-Parry 48!3 Masonite (1) _ 32% Mathieson Alk (1 ’,fi) 51% May Dept St (13) _. 8 Maytag Co (a50¢) .. 25 Mead Corp (b50c) .. 931 Mead Corp of (6) __. 67 Melville Shoe (15).. 9% MengelCo . ___ 34 Mengel 1st pf 42%) 58 Mesta Mach (b2%)_ 14% Miami Copper 25 Mid-Cont Pet (b50c) 337y Midld Stl Prod(12) 108 Midld St) 1st pf(8) . 94 MilwER& I pf(6)._ 120 96 Minn-Hon Reg (2) 124 108 Min-Hon R pf B(4) 164 11 Minn Moline Pow ._ 1% M St P&S S Marfe__ 2% M St P&SS M Is In_ 237 Mission Corp (b1)_. 5's Mo Kans & Texas _ 21 Mo Kans & Tex pf A 3 Mo Pacific (d) 6 Mo Pacific pf (4) 28 Mohawk Carp 11.20 85 Monsanto Ch (b1)._. 48 Montg Ward (+2) _ 56% Morris & Esx (37%) % Mother Lode al234c 27% Motor Prod (b113) . 17': Motor Wheel(1.60)_ 373 Mueller Brass (+1)_ 20 Mullins B (a50¢) . 80 Mullinupt (1) _ 24 Munsingwear (3) _ 67 Murpty (G E) 3.20_ 10'% Murray Corp(as0c). 1615 Nash Kelv (1) 30 NashvChat& S 17% Natl Acme (b25¢) __ 11% Natl Aviation (a1) 22% Natl Biscuit (1.60) . 25 Natl Bond & In 1.44. 29% Natl Cash Reg (1y_. » 1814 Natl Dairy Prd 1.20 1\2"7 107% Natl Dairy pf A (7) 24% 15 Natl Dept Stores___ 10% 6% Natl Dept Strs pf. 35 2713 Natl Distillers(t2). 18%4 12 NatlGypsum______ 44 30% Natl Lead (t50¢) ... 154% Natl Lead pf A (7). 8% Natl Pw & Lt (60¢). *» Natl Ry Mex 2d pf._. 70 Natl Steel (213) Natl Supply (new)_ Newp't Indus b13; - x N Y Air Brake (al1). N ¥ Central = N Y Chi&StL pt A_. N ¥ City Omnibus_. N Y Dock (new) N Y Dock pf (new)_ N Y & Harlem (5) .. N Y.Investors (d).. 3% NY NH&H (d) . “« NYNH&H pf (fl)_ NY NY 26% 35% 4815 122 106 Ontarfo & W._._ Shipbuflding. N Y Shipbldg pt N Y Steam 6% pf. NYStem7% pf A. 4% 2 Norfolk South (d) .. 272 236% Norfolk & W'n (10). 114 IUZ Norf & W pf (4) .__. 9% North Am Aviation 21 North Am Co (b60c) 481, North Am Co pf (3) 97% North Am Ed pf (6) 257, Northern Pacific ... 3% Norwalk Tire& R 17% Ohio Oil (b50¢) ____. 53! Oliver Farm Equip. 2% OltvF Eqrts Ju12. 13 Omnibus Corp vte.. 95 Omnibus pf (8) 12% Oppenheim Collins.. 5% 33% Otis Elevator b40c._. 127'3 Otis Elev pf (6) ... % 1413 Otis Steel _ 75 Otis Stl ev pf 15’»6). 22 Outboard Mot b75c. 8215 Owens-I11 Glass (3) 17 Pacific Am Fisb 1.20 63 Pacific Coast. 23! Pacific Coast 1 13 Pacific Coast 2d._ 284 Pac Gas & Elec (2 53% 40% Pac Lighting (3) 44% 25 Pacific Mills (b1) 152 1344 Pac Tel & Tel (8) 29% 20% Pac West Oll(a65c). 12% 7% Packard Mot (bl5c) 17% 107 Pan Am Pet (a60c) - 4's 2 PanhandleP& R __ 121 60 Panhandle P&R of.. 90 617 Paraffine Cos (b2)_. 28% 16% Paramount Pic 200% 121 Paramnt 1st pf ()~ 26% 15% Paramnt 24 of 60c 344 25% Park & Tilford (2 8% 4 Park Utah 44% 364 Parke Davis(b1.40). 29% 23 Parker Rust (t1%). 2% Parmelee Trans 6% Pathe Film Corp 14% Patino Mines a60c_.. 3% Peerless Corp 381 Penick & Ford (bl). 85 PenneyJC) (4) ... 5% Penn Dixie Cement. 43'% Penn Dixie pf (A).. 22 PaGlassctfs b25c_. 34% Penna R R (b50c) . 47 Peoples Drug (t1).. 43% Peoples Gas Chi. 30% Pere Marquet: 19 Pet Milk (1) _ T% Pfeiffer Brew bé! o 40 Phelps Dodge b80c_. 38% Phila Co 6% pf (3)- 76 Phila Co pf(6)new.. 1 Phila& Read C&I._. 70 Philip Morris(b3%) 49% Phillips Petrol(12). 28% Pilisbury Flour 1.60 52 Pittsburgh Coal pf.. 12 Pitts Screw (b45c)- 24 Pitts Steel 84 Pitts Steel pf 2% Pitts Term Coal.... 3% Pitts United 29 Pitts& W Va _ 24y Plymouth Oil b70e._. 21% Poor & Co (B) O 4% Porto R Am Tob A_. 7 Postal Tel&C pf(d). 17% Pressed Steel Car _. 54 PressStl 2d of 2% .. 55% Proctor & Gam(t2). 36% Pub Sve N J (2.60).. 99% Pub Sve N J pf (6).. 128% 118% Pub Sve N J pf (6) . 113% 110 Pub Sve E&G pf(5). 2% 51% Pullman Inc (1% 24% 16% Pure Of1 107 99 PureOi16% Df(l) 112% 1071 Pure Ol pf (!) 23% 15 Purity Bi 18% 16 Quaker State 0 bl 12% _ 7% Radio Corp. ) 60% 16 38 5% 50% 908 102'% 0 65% 21% 2 150%2 o = BN RON RIS O Db D - o 25 16% 3 17% 58% 4l 102 114% 110% 57% 19% 1 99 99 1308 110 109% 15% 1% 60% + % 16 + % 38 5% + % 50 -1 34% -1 22% + % 35 +3% 20% + % 18 +1% 28 +4% 19% — 4% 26% — % 3 42 2% — W 10% + % 15% + % 41 el 41% - % 61% +1% 12% + 4% B9 i .. © B I LI ol B TELEFFELT T ] $8 SEEssF UrY b At E | P FEFF FE A+ EEEELERES 46% — % Cl +h 1%+% 2% — % 59% + % 29 88 +2 16% + % 29% +4% 90 +214 2% 5 321 +1% 27 24% +1% 5% + % 8% + % 19% —1% 55 —2u 59% +1% 42 102 +2 114% + % 110% + % 5T% + % 20% - % 99 109% + % 15% + % 1% + % 185 9% % 9% ) 67 Radio-Keith-Or (d). 13% R R Sec I11 Cent._ 36 Reading 1st pf (2) 7% Real 811k Hostery_.. 16% Reliable Stores (1)_ 22 Reliance Mfg (160c) 21 Rem-Rand (b55c) .. 80 Rem-Rd pf ww 4% 97 Rensselaer & S(8. 27% Republio Steo) 124 109 ' Repub Steel pf (b3) 10% 97% Republis pr of A(6 32 Revere Copper._ 22! Revnolds Met (11).. 16% Reynolds Spr (11)_. 5945 Reynolds Tob (3) __. 49 Reynolds Tob B (3). 19 Ritter Dental (t1)_. 60 Roan An C (b1.11)_. 30 Ruberoid Co (60c) 2% Rutland RRpf.___. 31 Safeway Stores(12) 113 104% Safeway Strs pf(7). 65 43% St Joseph Ld (12) . 4% 2% St L-San Fran (d).. 1114 4% St L-San Fr pf (d)_. 2T 1434 Savage Arms b25c_. 51% 385 Schenley Dist b1%_. 98Y% 93% Schenley pf (5%)__. 3% 1% Schulte R Strs (d)_. 38 Scott Paper (biSc)_ 1% Seaboard Afr L (4)_ 4 Seaboard A L pf(d). 36% Seaboard Ofl (1) __. 81 Sears Roebuck (3)_. 26 Servel [ne (t1) 29 Sharon Steel (11.20) 95 Sharon St pf (5) 9% Sharpe & Dohme 12 Shattuck F G (60c). 25% Shell Un Of1(b50c) %102 Shell Un Ofl pf 5% _. 12 Silver King (b65c)_ 40 Simmons Co (b1)__x 314 Simms Petrol 42 Skelly Oil (b50c) 9814 Skelly Oil pf (6) 85 Sloss-Sheffield Stl_ 96 Sloss-Sheff pf (6)_ 4 27 Smith (A O) 27% Smith&Cor cfs t2__ 16% Socony-Vac (b25c) . 314 South Am G & P 30¢ 3215 South Port Sug(t2) 2213 So Cal Edison 11 _. 40% Southern Pacific 24 Southern Ry 4 37% Southern Ry pf __. 49 SoRyM&Oct (4)_ 6' Spalding (A G) 60 Spalding 1st pt 16 815 208 15% 42 9 1081 1 37T% 26" 221 40 1. 1 13 4 5 . 9 3 1 6 1 8 . 4 4 2 4 3 2808 4 5 4 70 11 2 208 508 2 4 372 18 9615 Spang Chal pt (b3). 2008 5% Sparks- Withing . 30 Spencer Kell (1.60)_ 16 Sperry Corp vtc(al) 44 Spicerpf A (3)____. 191 Spiegel, [ne (1) 1x 1 24 208 82 80% Spiegel cum pf(434) 2108 37% Square D (B) b60c 11% Stand Brands(t80c) 6% Stand Com Tobac ... 5% Stand Gas & El (d) . 13 Stand G&E $4 pf(d) 33 Stand G&E $6 pf(d) 36!2 Stand G&E $7 pf(d) 39% Stand Ofl Calif(11). 40'; Stand Oil Ind (t1) __ % Stand Oil Kan(a1l) _. #Stand Ofl NJ (t1) _ 621 Sterling Prod t3.80_ 17 Stewart-Warn t50c. 14 Stokely Bros (t1) __ 17 Stone & Web(a25¢c). 12 Studebaker Corp .. 37% Superheater (134)_. 414 Superior Oil 28% Superior Steel .____. 21% Swift & Co (11.20) .. 297x Swift Internatl (2). 117 Syming xw (b35c) . 103 Tenn Corp (b25c) - x 50% Texas Corp (2) __. 6 Texas Gulf PraSc _ 33% Texas Gulf Sul (12) 11% Tex Pac C&O b10c . 10 TexasP LT (a10¢c)- 7% Thermofd Co _. 3 Third Avenue _____ 75 Thompson (JR)50¢. 23 Thomp Prod bd0c__. 313 Thompson Starrett. 17% Thompson Star pf__ 15% Tide Wat As Ofl 80c 91% Tide Wat A O pf 43 17% Timken-Detroft(t1) 55 Timk'n Roll Brg(3) 124 Transamerica a50c_ 13 Trans Wat Air a2sc. 16 Transue & W(160c). 11% 74 Tri-Cont'l (b25c 109% 10115 Tri-Contl pf (6) 12 8% Truax-Traer (80 407 30% 20th Cent Fox (b1)- 50 39 20thCent F pf(1%) 17% 84 TwinCity R T 26% 16's Twin Coach (b30c). 67 215 Ulen & Co 1000 73 Und-Ell-Fish b1¥ 9l's 63 Union Bag & P (2)_ 111 95 Union Carb (3.20) 2814 227 Union Ofl(Calif)1.20 148% 122 Union Pacific (6). _. 99% 904 Union Pacific pf(4). 31'a 243 Union Tnk Car 1.60. 351 231, Unit Alrcraft b30c.. 24% 143 Utd Atr Lines a20c_ 301 22% Utd Biscuit (1.60)_. 91 69% Utd Carbon (4) .___. 814 4 Utd Corp (a20¢) 46% 324 Utd Corp pf (3). 10% United Drug (b25¢). 18 Unit Dyewood t1) 915 5% Utd Elec Coal .. _ 86% 75% United Fruit ('3).— 17 11 UtdGasImp (1).__ 1137 102% Utd G Imp pf (5)_. 16 6% Unit Paper'bd b30c- 24% 15 US& For'n Secur 100'; 92 US & For'n 1st (6)_ 347 15% U § Freight (1) __ 137 103% U S Gypsum (+2) _ 172 156 U S Gypsum pf (7). 2312 15% U S Hoffman__. 43% 28 U S Indus Alcohol. 15% 6% U S Leather vte ___ 22% 13% U S Leather A vtc 2% 44'% U S Pipe & Fdry(3). 19% 10 US Realty & Imp.. 72% 44'% U 8 Rubber 118 811 U S Rubber 1st pf 105 78 U S Smelting (b6) 126'4 75 U S Steel . . 150 126'% U S Steel pf (7). 9% 5% Unit Stk Yds (50 8% 3% Utd Stores (A) __. 21 1813 Univ Cyclops StI(1) 86 68 Univ Leaf Tob (13). 4% 1% Utll Pw&Lt (A)(d). 2% 113 Vadsco Sales Corp._. 5813 48 Vadsco Sales C pf._. 39% 24% Vanadium Corp _ 44% 32 Van Raalte (b1%)_. 47 40% Vick Chemical (12). 7 Va-Car Chemical . 4814 Va-Car C 6% pf b1l 20% Va Iron C & C pf 314 Wabash (4) ._ 8% Wabash pf (A)(fl\ - 12% Waldort Sys(11.20) 247 Walgreen Co (2) ... 42 Walker (H) (2) . 19 Walker (H) pf (1) 11% Walworth Co 5% Ward Baking (B) - 75 Ward Bak pf(b2%). 11% Warner Bros Pict._ 6% Warren Bros (d) 33% Warren Fy & P t2_. 34 Wayne Pump (2)... 4% Webster Eisenlohr_ 43% Wesson O&S (150c) 81 W Penn EI pf(8) 90% W enn El pf(7) 123% 118 West Pa Pwr pf (7). 30% 24 W'nAutoSup1.60_. 11% 7% Western eryllnd_ 23% 13% Western Md 2d pf_— 4% 2 Western Pacific .. 5% Western Pacific f... 83% 41% Westn Un Tel (3)__. 57% 40% Westingh'se A B(1) lG‘I* mm Westhss Elec (b2). ‘Weston EI Inst b25¢ 19 Westvaco Chlor (1) 29% Westvaco 5%Dpf 1%. 38 Wheeling Stesl i 99 Wheel Steel pf b2%. 20 White Motor new__. 14% White Rk M 8(1.40) 3% White Sewing Mach 25 White Sew Mch pf 4% Wilcox Oll & Gas 31 Wilson & Co (50c) 77 Wilson & Co pf (6)- 43% Woolworth (2.40) _ 30% Worthington Pump. 81 Worth Pump pf(A) 76% Worth Pump pf(B). 48 Tale&Towne(160c). 20% Yellow Tr & Coach. 142 123 Yell Truck pf b33 _. 46% 35% Young Spr& W(t3). 16 26% 12% T4% 37 104 18% 19% 33 49% 101% T74% Ysst'n S&T (b13}4).. 40% 30 Zenith Radio (bl).. M 4% Za.nlu ma.h ucts .. Unit of tra ’n hglulu - SRR 20s 128 9 38 29 88% 18 35% 12 6 DESPITE SELLING Gains of Fractions to Two or More Points Remain at Session’s Close. Stock Averages 30 15 15 60 Indus. Rails. Util. Stks. Net change. +.5 +.8 +.6 +.7 Today, close 93.9 408 424 67.6 Prev. day--. 934 400 418 669 Month ago. 92.6 42.9 41.6 67.3 Year ago... 346 495 633 1937 high.. 495 540 753 36.1 39.1 62.6 435 537 728 30 2 434 55.7 239 169 1929 high. .116 9 153 9 184.3157.7 1927 low_... 51.6 953 618 61.8 1936 high... 99.3 - 734 (Comptled by the Associated Press.) BY VICTOR EUBANK, Associated Press Financiai Writer, NEW YORK, July 7.—Stock buyers concentrated on rails, utilities and specialties in today's market. But profit selling, evident from the start, slowed the rallying momentum which swept prices into a sharp up- swing Tuesday. There was little change either way in the steel labor imbroglio, althougt brokers thought tension had lessened appreciably as independent steel com- panies announced large numbers of workers were returning without hin. drance from pickets. At the same time, the marked price recovery of yesterday was said to have inspired some stock traders to cash ir part of their gains. Activity'in the first hour was pro- nounced, with blocks of several thou- sand shares changing hands. Offering: were insistent, however, and steel: and other wide movers in the preced- ing session declined to back water The pace slowed later. Advances o fractions to 2 or more points wer¢ plentiful at the close. Transfers ap: 4 | proximated 1,400,000 shares. I+++ +1 L4+ 4+ Conspicuous on the upside the greater part of the day were Southerr Pacific, Santa Fe, New York Central Union Pacific, Southern Railway Northern Pacific, Baltimore & Ohio Chesapeake & Ohio, Western Union Consolidated Edison, North American Electric Power & Light, Chicago Preu- by-Owens, Canada Dry, Americar Chain, Eastman Kodak, Poor & Co. Caterpillar Tractor, Oliver Farm Schenley, Chrysler, Du Pont anc ‘Westinghouse. Narrow to down around a point or sc were U. S. Steel, Bethlehem, Repubilc Goodyear, U. S. Rubber, Boeing, Dou- |glas ~Aircraft, Anaconda, | Smelting and’ Allied Chemical. “Big Steel” rallied briskly at one time, bu failed to hold. — . — | B3 the Associated Precs. CHICAGO, July 7—Late setback: of wheat prices today carried the Chi. cago market down in some case: nearly 2 cents a bushel. The late downturns of wheat value: here were influenced by bearish actior of the Winnipeg market, where ex- port demand was negligible. Cable: said buyers overseas were inclined t believe that crop damage to date thi: side of the Atlantic had been mort than discounted. At the close wheat was 34-13; un der yesterday's finish, July 1.23 1.23!5, September 1.2475-125'5; cort 21 off to 135 up, July 1.25! Sep- tember 113!g-35, and oats l4-1; 2 | down. 101% 24% 125 91y 27 2974 174 23% 88 sReay 25¥ +LL+ 410+ 92 92 119% 119% 26% 27% 8 8% 15% 15% 3 3 65 49% 43% 146% 23 21 30% 8T% 87% + % 34% 35% + % 5% 6 + % Jaly B CORN— July. new July. old Sep WHEAT— Open 1.26% 1.26% 1131z 1 Deciil =84 OATS— July Sep. 5% | Dec = 17.60 Chicago Cash Market. Cash wheat, No. 2 red, 12715-29 No. 3 red, 1.27-27'{; No. 4 red, 1.21. 22'2; No. 5 red, 1.18-20; sample grade, red, 1.15; No. 2 hard dark 1.33'; old; No. 5 hard, new, 1.23; sam- ple grade, new, 1.19; tough, No, 3 red 12134; No. 4 hard, 1.17%: No. 3 hard 1.26; garlicky, No. 2 red, 1.22%; No. ? red, 1.21%-22; mixed, No. 4 mixed 1.21; corn, No. 2 yellow, 1.28-30; nc oats: no rye; soy beans, No. 2 yellow 145: barley feed, 55-7In; malting 71-97n; no timothy or clover seed. n—Nominal. more _Quot; July 7 Rarlicky, s Balti BALTIMORE, 5. Wheat. No o fed. Winter. . domestic SHORT-TERM —SECUBITIES. (Reported by Chas. D. Barney & Co.) Bid Amer T & T 5lis '43 134 Auburn Auto 4315 Baldwin ‘Loco Wks 5s '40 California Packing 5s '40 Carolina. Cl & Ohio_5s '38 Chesapeake & Ohio 55 '30 Edison Elec Tllum 4s '39 Houston Ofl 5las 40, Internat] Mercan Ma Internatl T & T 4'as Laclede Gas Light 5s Lehigh Valley Coal s Iehich Valiey Term &g ‘41 Long Island Gen Louisville & anhvme « '40 Michigan Central 4: 31 Susqueh & wm 58 *40 New o Tel 4as "9 Vertientes Sugar 7s Wabash Railway 5s 39 Warner Bros 6s '39 Western N Y & Pa 45 '4: , | Western Union 55 38 ST, RAIL ISSUE PROPOSED. The Cleveland & Mahoning Valley Railroad asked the Interstate Com- merce Commission yesterday for au- thority to issue $2,936,000 of first mortgage 4 per cent refunding bonds, maturing July 1, 1962. New England Fund Prospectus on Request A. 8. GouLmsN & Co., Inc. tAnnual rate— bhl‘ fllfl mr. Woodward Bldg. NA. 2000 matic Tool, Loew's, Otis Elevator, Lib. o Americar *