Evening Star Newspaper, July 13, 1937, Page 16

Fl EXCEED YEAR AGO Yotal for 22 Banks on June Call Date $308,805,881, Analysis Discloses. BY EDWARD C. STONE. Deposits in Washington’s 22 banks on June 30, 1937, aggregated exactly $308,805,881.07, as compared with #341,235,513.26 on March 31 of this year, according to an analysis com- pleted today by Audley A. P. Savage, auditor of the National Savings & Trust Co. Between the first and sec- ond calls this year deposits dropped $32,429,632.19, but remained ahead of total deposits on June 30 a year ago, when the banks here had $306,413,- 744.91 on their books Auditor Savage's analysis discloses that the savings banks experienced the smallest proportionate decrease in de- posits, & slump of $422,072.22. Next came the trust companies with a drop of more than $11,000,000, and then the national banks with a decline of $20,000,000, a good deal of which has already been redeposited since the July 1 tax date. Switching of investments caused the withdrawal of some of the money from the banks during the second quarter. Funds were placed in other types of investments during this pe- riod, the aim, of course, being to get larger returns. Many large investors pulled down their bank accounts to reduce their personal tax payments, temporarily, at least, placing their money in tax-exempt securities. The amounts involved in the annual tax evasion move were larger this year than usual, according to bank officials. Investments in real estate are as- signed as still another reason for re- duced bank accounts Sharp Advance in Two Years. However, deposits in the Capital are not only larger than a vear ago. but very much higher than at the same time two years ago. On the call qf June 29, 1935, deposits here to- taled but $266.586,829.82. The all-time high mark was reached &ix months ago, the December, 1936, call by the controller revealing de- posits in Washington amounting to $334,042.127.40. The compilation by ghows that and all five trust companies experi- enced a let-down in deposits on the recent call. Mr. Savage Four of the eight savings banks re- | ported increases—the Anacostia Bank, City Bank, Bank of Commerce & Sav- ings and the Industrial Bank. Deposits as of July 30, 1937. According to the report by Mr. Savage deposits in the individual banks in the Capital on June 30, 1937, were as follows: National Banks. Bank of Washington .. $9,338,611.67 Columbia 22,386,408.28 6,903.265.91 9,938,246.58 Metropolitan . . _ National Capital 2,992,301.20 86,435,478.06 | 8,017,966.53 $174,755,558.22 Savings Banks. Anacostia $1,787,702.26 City . Commerce and Sa\mgs FEast Washington ____ Industrial McLachlen Morris Plan . | = Security Savings and | Commercial 13,092.05 3.212,618.10 1,086,162.49 537,449.30 $28,134,713.43 | ‘Trust Companies. | American Security _ $48,954,003.30 | Munsey Trust 5,276.488.16 National Savings 15,520,306.91 Union Trust 10,727,701.69 Washington Loan 25,437,109.36 | $105,915,609.42 i Recapitulation. -$174,755,558.22 | 28,134,713.43 - 105,915,609.42 | National banks. Savings banks. _ Trust companies_ $308,805,881.07 | Riggs Declares Dividends. Directors of the Riggs National Bank have declared regular dividends on the common stock of $2 per share, payable July 15, and $2 per share, payable Oc- tober 15, President Robert V. Fleming announced following the monthly meeting yesterday afternoon. The board also declared the regular semi- ennual dividend on the preferred stock, payable July 31. President Fleming also announced that, in view of business expansion at the branch office at Seventh and I streets northwest, it had been deter- mined to enlarge and remodel the office. This work, which has already begun, will be completed by late Fall and will bring the banking house and equipment up to the highest standards, Mr. Fleming said. There will be no interruption to banking service during the operations. New Air Record Made Here. The greatest air passenger transport ever recorded for a month in Wash- ington was reported by American Air- lines, Inc, for June. According to Herbert D. Ford, district sales mana- ger for the airline here, American car- ried 1,851 passengers in or out of the city, a 16 per cent gain over May, 1937, when 1594 passengers were carried. It also was a 77 per cent ®ain over the 1,041 passengers in June, 1936. Installation of new non- &top 21-passenger plane service to Chicago and the use of skysleepers between here and the West Coast were eredited as factors causing the in- erease. Air express originating here showed 4 substantial gain as well In June, 1937, there were 3,833 pounds sent from Washington, compared to 3,584 pounds in May and 1,620 pounds in June of 1936. This was an increase for the year of 137 per cent. Financial District Notes. The interior of the Franklin Branch of the City Bank is being extensively remodeled, the most striking change being the adoption of cageless coun- ters. The work is about half com- pleted. B. Gwynn Dent, assistant cashier at the Riggs National Bank, is taking his annual vacation, a contemplated trip to Cape May being on the schedule. The North American Co. reports that the two subsidiaries in St. Louis and Washington areas established new weekly electric output records during June. Half-year records were also &mashed, the report stated. Atlantic Coast Line earned $3.21 a share on the common stock in the first five months of this year, compared with $1 a common share a year ago. Capital Transit was in lively de- mand on the Washington Stock Ex- change today, 155 shares changing hands at 101, and 15 more at 10%. ‘Washington Gas $s sold at 113. 1 all nine national banks | 4.813,235.54 | 23.930,044.45 | i 6'2 41% Bon Ami (B) (23%4). 7,750,520.43 | 5,084.689.21 | 1,662,479.59 | NANCIAL Dividend Rats. 63% Acme Steel (4) ____ 15 Adams Exp (b30c). 6414 Air Reduction (11). 2% Air-Way Eleotric_... 11 Alaska Jun (160¢).. 2% Alleghany Corp..ea. 2415 Alleg pf ww $30.__. 25815215 Allied Chem (6) ... 33 Allied Mills (b2).._ 21% Allied Stores (b20c) 85 Allied Strs pf (5)... 8313 Allis-Chalm (bi)._. 393 Alpha Port Cmt (1). » 4% Amal Leather _____ 1147 80 Amerada Corp (2)._. 101'a 83 Am Ag Ch Del b2%5_ 41% 204 Am Bank Note (11). 80% 57% Am Brake Sh b1Y . 121 90% Am Can (t4) _ 174 152!3 Am Can pf (7) _ 46 AmCar & Fy (b25¢) 77 Am Car & Fy pf(b4) 28 Am Chain & C b50c- 0'%2 Am Comcl Al ab0c. 25 AmCrysSugb2% 5% Am Encaustic 613 Am & Foreign Pwr_ 6872 45 Am & For Pw $7 pf_ 'a 1813 Am & For Pw 2d pf_ 21 14% Am Hawatian (1) _. 11% 573 Am Hide & Leather. 55% 364 Am Hide & L pf (3) 52% 40% Am Home Pr(12.40) x 27 17's Am Ice pf (2) -- 17% 12% Am Internt] (a40c)- 58 37 Am Locomotive .. 29% 183 Am Mach & F (t1).. 68% 43% Am Metals (b25c) - 16!3 7 Am Power & Light.. 72'2 40'; Am Pw & Lt pf (b).. 87la 49'a Am Pw & Lt pf (8). 29! 18% Am Radiator 160c_. 45% 31% Am Roll Mill (2) __ 29 22} Am Seating (b25c)_ 58 41 Am Shipbldg (t1)__ 105% 79% Am Sm & Ref (3) 67'3 52« Am Snuff (13) T34 48% Am Steel Fdy (b1)-. Y2 1574 Am Stores (b1%) .. | s 37 Am Susar Ref ( ‘4 124'x Am Sugar pf (1) 21'« Am Sum Tob (11) . 1594, Am Tel & Teles (9). 3% Am Tobacco (5) _. 74's Am Tobacco (B) 5 . 11% Am Type Founders_ 5's Am Water Wks 80c. 7% Am Woolen 541, Am Woolen pf (b2). 6% Am Zinc & Lead . 6913 47% Anaconda Cop b75c.. 24% 18 Anchor Cap (60c) 10% 53 AP W Paper __ 13% 7 Armour of Ul(bfi-‘m) 54% Armstrong Cork(2) 1la Armstrong rts Jy 30 11 Arnold Conat b7bc-. 15% Assoc Dry Goods 3 Atch T& S Fe (b2)_ ATo&SFept (5)-. 44'4 Atl Coast Line(al)_ « AUl Refining (11) Atlas Corp (80c) ... | H2% 5013 Atlas Corp pf (3) ._. 94 68'; Atlas Powder b114_. 133 1133 Atlas Pwdr pf (5)_. 36% 13'3 Auburn Auto 92 5% Austin Nichols __ 5212 30 Austin Nich pf (11). 9% 5% Aviation Corp Del__ 11 4% Baldwin Loco td)-. 993 4% Baldwin asd «d) 403 20% Baltimore & Ohfo _. 273, Baltimore & Oh pf _. 275 Barber Co (b25¢) 34 Barker Bros pf 2% 2313 Barnsdall (1) - 1375 Bayuk Cigar t75¢. 21'; Beatrice Cream t «101 Beatrice pf ww(5)_. + 11% Belding Hemin (1) 30'; 181 Bendix Aviat'n b50c 233, 20% Benef IndL b1.327;_ 105% 73 Bethlehem Steel(bl 12913 108 Bethlehem pf (7) 38 24 Black & Decker (1). 297 Blaw-Knox (b45c). | 2714 Boeing Alrplane _. 481x 37 Bohn Alum & B(3)_ 85!, Bon Ami A (4) 201 291 14% 79 20 211> Borden Co (1 60) 387y Borg-Warner (2) _. 1'4 Botany Mines A(d). 15 Bridgep't Brass(1)._ 394 Briggs Mfg (b1%3)._ 395 Bristol-Myrs t2.40 | 18'3 Bklyn-Man T (b214, 65% Bklyn-Man T pf(6). 2% Bklyn & Queens 26'4 Bklyn Un Gas(1.60) 43'; Brown Shoe (3) 14% Bucyrus-Erfe _ T'»x Budd (EG) Mf‘A._ 58 Budd (EG) pf 7'« Budd Wheel b20c .. 5012 Bulova Watch (t4) 177 Burlington MiMs(1) 22'3 Burr Add M (80¢) 4'» Bush Terminal = 15 Bush Terminal deb. 24 Bush T Bldg pf cod. 127 Butler Bros (60¢c).. 28% Butler pf (1%) .__. 4'z Butte Cop & Z(a5c). 171 Byers (A M) = 67 Byers (A M)pf _ 251, Bvron Jackson (t1) 35 Callf Packing (1%) 50 Calif Pkg pf (2%3) - 2% Callahan Zinc-Lead 12 Calumet&Hec b75c.. 24 Campbell Wy (t1) 23%; Canada Dry G Ale__ 55 Canada South (3)_.. 11% Canadian Pacific .. 44 Cannon Mills (b1).. 1813 13% Cap Adm A (b50c) .. 35% 30 Carpenter Stl b1.35. 17613 138 Case(J 1)Co (4) .. 100 85 Caterpillar Tr (+2)_ 105 102% Caterpillar pf (5) - 41' 265 Celanese Corp bl1%4. 48% 36!2 Celotex Corp b40c . 8213 733 Celotex Corp pf(5). 12% 6l Central Foundry . 107% 96 Cent [1] Lt pf(4%4).. 41% 18 Central RRof NJ. 24% 11 Cent Violeta Sug _. 86% 60 Cerrode Pasco (4).. 23% 11! Certain-teed Prd__. 82 4813 Certain-teed pf 35% Champion P&F b1y 107% Champion P pt (6) 67 Chesapeake Crp(3). 501 Ches & Ohio +2.80_ 2 ChiGrt West (d) . _. 8% Chi Grt West pf (d) 7 Chilnd & L pf (). 24% Chi Mail Ord t1% . 1% Chi Mi) St P&P (d)._ 3% Chi M St P&P pf(d) 3 Chi&NW @) 9% Ch1 & N W pf (d) 21 Chi Pneumatic Tool 35 ChiPneuT pf (3).. 2 ChiR1&Pac(d) .. 3% Chi RI&P 6% pf(d). 4% Chi RI&P 7% pf(d). 14 Chi Yellow Cab (2). 9% Childs Co 94 Chrysler Corp bl‘;fi. 17% City lce & Fuel (3). 80 City Ice & F pf 63 10% 6% City Stores 2 40% 32u Clark Equip(11.60). 113 102% Clev EI [11u pf 4% . 44% 35 Clev Graph (b1) __ 2815 23% Cluett Peab’y b25c 14 & Cluett Prts July15. 25% 177 Colzate-P-P( t60c) 623 471 Collins & Alkn (12). 517 Col Fuel & Lron(b1) 27% Colo & Southern 30 Colo & South 1st pf_ 63% 111 90 687 4 184% 12% 32 3% T 63 1915 33 41 3% 83 10% 2T% 157 135% 21% 92 20% 108 101 39% 69 80Y 21% Al 5% 19% 45% 33% 95 49% 108 5% 18% 17T% 10% 1% 13% 52% 3T 37% 5% 694 25% 42% 3% 4819 35% 7 1% 10% Columb G & E1(40¢) ColG&Epf A (8) Col G & E pf (5) 28k Columb Pic vtc (1) 56% Comcl Credit (14) .. 63% Comecl Inv T (t4) .. 13 Comcl Solv (t60c) .. 2 Comw & Southern .. 46 Comw & Sou pf(3) 13% Conde Nast Pub 34 Congolenm Nrnl!). 19% Consol Afrcraft __ 831 Con C pr pf ww 6% _ 31% Cons Edis N Y(13)_ 99% Cons EA N Y pf(5)_ 2% Cons Film 10 Consol Film pf(a2). 14% Consol Oi1 (180c) 4'3 Cons R R Cuba pf. % Cons Textile (d) 814 Cons Coal(Del)vte 33 Cons Coal Del vte pt 20% Container Corp 1.20 18 Contl Baking (A) ... 215 Contl Baking (B) 50 Contl Can (3) - 182 Contl Diamond (2) . 35% Contl Insur (11 60). 2 Contl Motors 39% Contl Oil Del (t1).. 25 Contl Steel (1) 6214 Corn Ex Bank (3).. 3 547 Corn Prod Ref(13). 6 Coty ING-cccemmcuue daylight saving time. 18% 2% 3 2% 1 53 4 8 228 226% 227 23 lflh 18% % 2% 124% 3% 40% 23% 19 ks 68Y% 26 [ ey et | g I I o e | Rsdl » Bales— Ned Add 00. High. Low. Closs. chge. 3 76% 76 76 13 13 1 srssgsesSey T 1 = l+|l||l!ili TR (S +11 EEEER FEF ¥ Iifl 11rr++ FFEE FESFEELIST FEOF ¥ ERES FEpeFpEpex Prev. 1037 Stock and Hish. Low. Dividend Rate. 56% 40 CraneCo. .. —— 121 113% Crane Co pf (7). lDQVg 100% Crane Co cv pt (5)_. 28% Cream of Wheat(2). 28% 181 Crosley Radioal . 100% 68 Crown Cork & S(32). 26% 16% Crown Zellerb 108% 813 3 17% 14% 7% Cuban-Am Sugar_.. 127 110 Cub-Am S pfb735._. 37% Cudahy Pkg (214) 20% 813 Curtis Publishing. 109% 71 Curtis Pub pf (7).. 8% 5 Curtiss-Wright . '23’% 1615 Curtiss-W (A)ab0o. 19 Davegacum pf1%. 139% 104% Deere & Co el-Wem-G(11) . 583 33 Delaware & Hudson 24'; 13% Del Lack & West _ 146Y3 110% Detroit Edison (t4) 22 9% Det & Mackinac. 3 26 Diamond Match 14% Diamond T Mot (1). 20% Distil Corp Seag . ... 18 Dixie Vortex(134) . 34 Dixie Vortex A 2% _ 35 Doehler Die Cast(2) 384 Dome Mines (12) 9% Dominion Stores.... 47'4 Douglas Afreraft _. 129 Dow Chemical (13). 45 Dresser (A) (a3) _ 1801 1483 Du Pont de N(b2%). 135'% 130% DuPont deN deb(6). 115% 110% Duqguesne 18t (5) ... 17 914 Eastern Roll Mills._. 17813 151 Eastman Kodak (8) ’i?’n 29Y% Eaton Mfg (2) 10% Eitington-Schild 343 Elec Auto-L b1.40 9% Elec Boat (a80c) _. 4'3 Elec&Mus I (al18¢c). 144 Elec Pow & Light . 5813 Elec Pw & Lt $6 pf_. 62 Elec Pw & Lt $7 pf . 3214 Elec Storage Bat (2! 3 Elk Horn Cl pf (d) . 21% El Paso Nat G 160._. 55 Endicott-John (3)_. 59 Eng P S $5pf (b5) 4% Equitable Office B 13'2 Erie R R % Eureka Vacuum 18 Bvans Prod (t1) 2% Exchange Buffe 3 FairbanksCo __ 4915 Fairb'ks-Morse (t1) 16% Federal Lt & Trac . 6'4 Federal Motor(40c). 5'3 Fed Screw Work: 3 Fed Water Sve A _. 3114 Fed'd Dept Str(2) _ Fed'ted Dep S pf 4% 36 Fidel Phoenix 1.60. 31 Firestone T&R (2) . '4 First Natl Strs 23 26%% Flintkote Co (1) ___ 46 Florence 8 (bl) - 4% Follansbee Bros(d). 47'3 Food Machine (1) 108 Food Mach pf(4%). ’h 3 Foster-Wheeler ___ Francisco Sugar 24% Freeport Sulph (1) 25 Fuller Co 24 pfoaeae 415 Gabriel Co (A)oeeee 113 Gair (Robert) __ 22 Gamewell Co 11 Gar Wood Ind b25e. 10'3 Gen Am [nv(a75c).. 99'3 Gen Am Inv pf (6) . 6213 Gen Am Trans b1l 103, Gen Baking (t60¢c) . 7% Gen Bronz 20 Gen Cabl 3413 Gen Clgar (t4 49% Gen Electric lb!Oc). 36 Gen Foods (2) 1'3 Gen Gas & Elec(A). 657 60 Gen Mills (3) = 124 117 Gen Mills pf (6). 70'; 4814 Gen Motors (b13%)._. 1225 113 Gen Motors pf(5) - 19 15% Gen Print Ink b30c.. 5% 3% Gen Pub Service. . 3 Gen Realty & Util . 31 Gen Realty & U pf_. 5 Gen Refract (b2) 48 Gen Steel Cast pf _ 20% Gen Thea Ep(b50c). 34'4 Gen Time Instru t1. 144 Gillette S Ras (t1)_ 201 Gimbel Bros 40% Glidden Co (t2) 51'; Glidden cv pf(2%) 4 Gobel (Adolf) 5% Goebel Brew (t20c). 31 Goodrich(BF) bs0c.. 27% Goodyear T & R bl_ 7% Gotham Silk Hose ._ 82 Gotham SHopf (7). 3 Graham Paige Mot._ 65 Granby Cons 213 Grand Union ctfs 17 Grand Union pf b1} 32 Granite City Stl(1) 3415 Grant (WT) (11.40) 40% Grt Northern pf. ... 17% Grt Northn Ore (1)_ 34 Grt West Sug 12.40. 271 Green(HL) (11.60)_ 12% Greyhound (t80c)._. 2 Guantanamo Sug - 27 Hackensack W b75¢ 131 Hall W F' Print 2513 Hamilton W (b65c). 108 103 Hamilton W pf (6). 58'3 40 Harb-Walker (12)._. 8 4 Hayes Body 563 2813 42% 3915 167s 4% 4% a 11'4 Heckers Prod(160c) 185 14473 Hercules Pwdr (6)_ 673, 58 Hershey Choc (13)_ 37 36 Hinde&Dauch (bl). 21 Hollander & Son(1). 29% Holly Sugar (b2%). 47% Homestake b373c . 18 Houd-Her B (t134). 1213 Houston Ofl vte _.. 62% Howe Sound (t3) __. 2% Hudson & Manhat.. 13% Hudson Motor.. 3 Hupp Motor. 21 [Illinois Central. ... 12% Indian Refin (a1)... 33 Indus Rayon (2) .. 144 12‘ Ingersoll-R'd (b1%4) 94 Inland Steel (t4) 17% [nspiration Cop 45 Insur Sh Md (b10c). 57 Inter Rap Tr vtc(d) 4% Intercontl Rubber.. 16% Interlake Iron 5 Intl Agricultural .. 42 Intl Agriprpf(b3)- 146% Intl Bus Mach(16)_. 991 [ntl Harvester(2%) 8% Intl HydroE1A 10 Intl Mining (b30c)- 55% Intl Nickel (bl) oo 16% Intl Paper (A) cceea 10% Intl Paper (B) cacem 5% Int] Paper (C)emmme 90% Intl Paper of 5% Intl Ry Cent Am . 6 Intl Ry Cent Am vto 88 Int Silver pf (b6)_- 9% Intl Tel & Tel 20% Interstat Dp St b23§ 2514 Island Creek (2) 69'5 Jewel Tea (14) 165 120 Johns-Manv «13) _. 136 117% Jon&L 7% pfb3% .. 15 K City South 25 Kans City 8o pf(a1) 915 Kelsey-H B (215 51 Kennecott Copb1%. 14Y% Keyst'e S&W b4sc 37% Kimberly Clark(1). 5 Kinney (G R) Co. 44 Kinney pf (a1) 20% Kresge (S 8) bé0c 18 Kroger Groo (11.60 23% Laclede Gas pf. 18% Lambert Co (3) 17 Lee Rubber (b1) 1% Lehigh Valley Coal. 8% Lehigh Val Coal pf. 134 Lehigh Valley R R 36 Lehman Corp'n(t1) 40 Lerner Stores(12) 658% Libbey-Ow-F b7bc.. 9% Libby McN & L(a1) 94% Ligg & Myers B v4_. 59 Lima Locomotive... 51% Link Belt (13) _o 43% Liquid Carb (2.60) . 84% 64% Loew's Inc (¥2) 110 105% Loew’s Inc pf(6%)- 3% 1 Loftinc 76% b50% Lone Star Cem v 10% 5% Long-Bell Lumb(A) 43% 28Y% Loose-Wiles (2) ... 110 106 Loose-Wiles pf(5)-. 28% 20 Lorillard P (11.30). 147% 127 Lorillard P of (7) 82% Louis & Nash b2% . 29% Ludlum Steel (1) .. 3015 MacAndrew&F(12). 24% McCall Corp (12) .. 14% McCrory stores 32 Leh PortCmtl¥% _x 16 2 47 46% 47 1164 1164 116H Ne AIIM High. Low. Olose. shese. lllh. Low. L 3 111% 110% 111% +2 2 30% 30 80% + % 22% 22% — % » S H IR CU=R DTS 2 = S8~ - P ANNE RSB NL DN AN RNANDD o 3 E3 3 BT NN N ANN RN NNW—a S ) ) NuoHRANE A= TN ~ana 3 bo»—unvv—gga-mgun—* 0 NN e BR-RoamNRa~ _EL_ 19 139% 29 21% 9% 16% 112% 19% 27 167 3 112'& 1215 178 324 1215 3815 10% 5 19% 6R% 45% 45‘ 107";!07'& 12% 12 156 156 b8 3214 258 32 495 20% 16 8% 3 15'5 3% 25% 163 38'% 131 114% 24% 14 674 207 6% 50 156 12% 11% 13% 61% 17% 13 102 6% 6% 977% 11% 25% 281 T4 129 123 181 31 1Y% 59% 16 38% 5% 45 22% 102% 6% 6% 9T 11% 25% 28'% T4 130 123% 19 3% 11k 59% 16 2 NI 5 o R 4+ b++++1 1404+ FEEAHELHL + & 4 © L sxErsyess 5% 73‘6 -1% % s (10 A P21 81 1 £ FrEETIES FEFT EEE1 Y ++ o - £ D. C, TUESDAY, Prev, 1037 Stock and Dividend Rate. 12% McLellan Strs b75e. 40% Mack Trucks (11).. 44 Macy (RH) (12) ___ 42 Magma Copper (2).. 3% Maracaibo Ofl Exp... 9% Marine Mid (140c).. 62% 68% 63 7 Martin-Parry.o... 48'5 Masonite (t1)_ 32% Mathieson Alk (l%) 51% May Dept 8t (13) ___ 25 Mead Corp (b50c)-. 67 Melville Shoe (15).. 9% Mengel Co 34 Mengel 1st pf (234). 14% Miami Copper 25% Mid-Cont Pet (b50c) 33% Midld Stl Prod(12). 122 108 Midld St) 1st pf(8)._ 106 94 MilwER&I pf(6)_ 124 108 Min-Hon R pf B(4). 11 Minn Moline Pow 8814 Minn Moline Pw pf. 237 Mission Corp (b1) .. 5% Mo Kans & Texas _ Mo Kans & Tex pf A Mo Pacific (d) . Mohawk Carp 11.20. Monsanto Ch (b1)._. Montg Ward (12)__ Morrell J (2.40) __. Morris & Esx (3%). % Mother Lodeal2le 27% Motor Prod (b13;) .. 17% Motor Wheel(1.60). 37% Mueller Brass (t1). 20 Mullins B (a50¢) 80 Mullinn pf (7) % 24 Munsingwear (3) .. 10815 102 Murp'ty G C pf (5)_ 20% 10% Murraw Corp(a0c) 24% 164 Nash Kelv (1) 24 17% Natl Acme (b25c) 18% 11'% Natl Aviation (al). 33% 22% Natl Biscuit (1.60) 33% 25 Natl Bond & In 1.44. 387 29‘» Natl Cash Reg (1) - 264 Natl Dairy Prd 1.20 1!2 l07 Natl Dairy pf B (7). 15 Natl Dept Stores __ 6'5 Natl Dept Stra pf 2713 Natl Distillers(t2)_ 1z Natl Gypsum - 303 Natl Lead (750¢) . 8% Natl Pw & Lt (60¢). *» Natl Ry Mex 24 pt Natl Steel (12%) ._. Natl Supply Natl Supply pf b1% Natl Tea Natomas (80c). Neiser Bros (2)_ Newberry JJ 12.40_. wberry pf (5) o CELELP DTS 4% 26Y% 35% 4815 o 3 B ) 108 34 =3 a wownhenToanane— 70 213 121'4 6% Newp't Indus bl 7315 N ¥ Air Brake (al)- N ¥ Central N Y Chi&StL pf A N Y Dock pf N Y Investors (d) NY NH & H d) NY NH & Hpf (4).. N Y Ontarfo & W.___ N ¥ Shipbuflding .. N Y Steam 6% pf __ N Y Ste'm 7% pf A Norfolk & W'n (10) Norf & W pf (4) North Am Aviation North Am Co (b60c) 257 Northern Pacific. .. 17! Ohio Oil (b30¢c) . 5315 Oliver Farm Equip. 13 Omnibus Corp vte 12% Oppenh'm Coll bine 33% Otis Elevator b40c.. 1413 Otis Steel Outboard Mar b11; Owens-111 Glass (3) Pacific Am Fish 1.20 Pacific Coast Pacific Coast 1st pf Pacific Coast 2d Pac Gas & Elec (2). Pac Lighting (3) ... Pacific Mills (b1)__. Pac West Ofl(aé5c). Packard Mot (blkc) Panhandle P& R __ Panhandle P&R of Paraffine Cos pf (4). % Paramount Ple ___ Paramnt 24 pf 60c_.. Park Utah S 36b. Parke Davis(bl.. 10) 23 Parker Rust (+1%). 2% Parmelee Trans _.. 6% Pathe Film Corp __. 14'a Patino Mines aé0c . 3% Peerless Corp 38's Penick & Ford (bl). 85 PenneyJC) (4) _.. 3'x Penn Coal & Coke 5'¢ Penn Dixie Cement. 43's Penn Dixie pf (A)_. 34 Penna R R (b30c) 16'« Petrol Corp(A) b40e T4 Pfeiffer Brew b60c_ 40 Phelps Dodge hSoc 38!3 Phila Co 6% bf (3) 4% Phila Rap Tr (d) _. 8 Phila Rap Tr pf(d). 1 Phila& ReadC&1. 70 Philip Morris(b3%) 4915 Phillips Petrol (12). 10's Pittsburgh Coal __ 12 Pitts Screw (b45c)- 24'; Pitts Steel 84 Pitts Steel pf. 3% Pitts United 971% Pitts United pf. 29 Pitts& W Va 1 PittstonCo 24'% Plymouth Oil b70e-- 21% Poor & Co (B) 7 Postal Tel&C pf(d). 17'; Pressed Steel Car 5513 Proctor & Gam(t2). 118'3 114!3 Proc & Gamb pf(b, 52% 36% PubSve NJ (2.60). 112% 99% Pub Sve N J pf (5) .. 140' 124 PubSve NJ pf (7).. 72 51% Pullman Inc (1%).. 24% 165 Pure Of1 112‘4 107'% Pure Oll pf (8) 15 Purity Bak (60¢c) 7% Radio Corp = 63 Radlo 1st pf (3%)_. 674 Radio-Keith-Or (d). 32 Reading RR (2) __. 74 Real Silk Hoslery_ 2 Reis (Robt) 20 Reis (Robt) 1st pf_. 16!3 Reliable Stores (1) 21 Rem-Rand (b55¢) .. 80 Rem-Rd pf ww 43§ _. 5 Reo Motor Car 47% 27% Republic Steel 110% 97% Republic or pf A(6) 124 109 Repub Steel pf(b3). 49% 32 Revere Copper 30% 22!% Revuolds Met (t1).. 34% 16% Reynolds Spr (t1)._. 67 5913 Reynolds Tob (3) . 68 49 Reynolds Tob B (3). 31% 19 Ritter Dental (1) 60 Roan An C (bl.11) 30 Ruberoid Co (60c) 3% Rutland RRof .. 31 Safeway Stores(t2) 99 Safeway Str pf(6) .. 113 104% Safeway Stra pf(7). 66 43% St Joseph Ld (12)... 4% 2% St L-San Fran (4) 11% 4% St L-San Fr of (d) .. 27's 14 Savage Arms b25c_. 513, 38% Schenley Dist bl .. 984 934 Schenley pf (5%) . 34 115 Schulte R Strs (d) .. 45% 38 Scott Paper (b65c)_ 1025 1908 112% 272 114 17% 34w 365 236% 102 9% 21 21 31 a2 43 31 13 19 12" 30 Add 00 mn 49% 308 11215 112'% 98 408 114 .“#M 100 1239 ~_. 108 106 125 2618 31 2108 2 2 3ta Unit Aircraft bi0c.. 697 b k. 15% JULY 13, 1937 Stock and High. Low. Dividend Rate. 1% Seaboard Air L (4). 4 Seaboard A L pf(d). 5 36% Seaboard Ofl (1) __. 14 45% 81 Sears Roebuck (3).. 22 92% 26 Servel Inc (t1) ____ 5 29 Sharon Steel (11.20) 1 9% Sharpe & Dohme _. 15 12 8hattuck F G (60c) 3 34% Sheaffer Pen(bl%) 25% Shell Un Of1(b50c) - 12 Silver King (b65c) 40 Simmons Co (bl) 3% Simms Petrol _ ... 42 Skelly Ofl (b50c). 85% Sloss-ShefMeld St! 96 Sloss-Sheff pf (6)__ 27 Smith(AOQ) __ _ 16% Socony-Vac (bZSc) 34 South Am G & P 30¢ s South Port Sug(12) 2 So Cal Edison 11%_. 40% Southern Pacifio._.. 24 SouthernRy.. ... 37% Southern Ry pf_.__. 6'5 Spalding (A G) 60 Spalding 1st pt - 96'4 Spang Chal pf (b9). 4 Sparks- Withing - 16 Sperry Corp vtc(al) 263 Spicer Mfg (a3).. 44 Spicer pf A (3) 19' Spiegel, Inc (1) ___ 80% Spiegel cum pf(4%) 113 Stand Brandstt80c) 6% Stand Com Tobac. .. 5% Stand Gas & El () . 13 Stand G&E $4 pf(d) 3613 Stand G&E 37 pf(d) 2% Stand Inv Corp 395 Stand O1l Calif(t1). 40’5 Stand Oil Ind (1) . 6313 Stand OiIl N J (t1) . Gth Sterling Prod 13.80_ Stewart-Warn t50c. Stone & Web(a25¢). Studebaker Corp Sun Oil (11) 17% Sunshine Min (3) 41a Superior Of) 28% Superior Steel 13 Sweets Co of Am 213 Swift & Co (11.20) . Swift Internatl (2). Add oo, I.\:h Low Close. un 20 1% 1% b"- 54 44l 92% 30' 54 44, 92% 30 36 10% 1313 35 28 15 24 404 98 114 137 98 28% T4 25' 4% 3214 98 60% 31 57 1% 29 20% 453 26 92 27 105\0 FINANCIAL CAPITAL DEPOSITS TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE By Private Wire Direst to The 8 RADING MARKED BY PROFIT TAKING Early Losses Reduced as Bids for Leaders Are Hoisted Moderately. Stock Averages 15 60 Util. Stks. —_1 =1 Net change. Unc. Today, noon 94.4 Prev. day... 944 Month ago. 89.1 88.4 101.6 879 99.3 42.1 422 403 515 54.0 39.1 53.7 61.7 678 64.5 66.4 5.3 . 626 435 2.8 734 302 434 55.7 175 8.7 239 169 146.9153.9 184.3 157.7 516 953 61.8 61.8 (Complled by the Associated Press.) BY VICTOR EUBANK, Associatea’Press Financiai Writer. NEW YORK, July 13—Traders dragged down some of their profits in today's stock market and price trends generally pointed lower. Early losses of fractions to 2 points, | however, were reduced or canceled in | many instances before the close as {bids for U. S. Steel and some other leaders were hoisted moderately. The news, on the whole, was inter- preted as constructive and brokers at tributed the drifting movement of the 104 Tenn Corp (b 50 Texas Corp (2) 6 Texas Gulf Prabe _ « Texas Gulf Sul (12) Texas & Pac RR __ Tex Pac C&O blle .. 'exas P L T (alCc). Thermotd Co . Third Avenue Thomp Prod bilc _. Thompson Starrett. Tide Wat As Oll 80¢ Timken-Detroit(11) Timk'n Roll Brg(3) Transamerica 50 Trans Wat Air azsc Transue & W (160¢c). Tri-Cont'l (b25c) Truax-Traer (80c)_ Truscon Steel = 20th Cent Fox (bl1). Twin City R T 2 Twin Coach (b3oc) - Ulen & Co Und-Ell-Fish b1% Union Bag & P (2) Union Carb (3.20) _ Union O11(Calif)1.20 Union Pacific (6) _. Union Pacific pf(4). 0 1915 3 R7la &0 1015 » Utd Air Lines az0c. Utd Biscuit (1.60) __ Utd Biscuit pf (7) '« Utd Carbon (4) _ Utd Corp (az0c) % Utd Corp of (3) United Drug (b25¢). » Unit Dyewood 11) s Utd Elec Coal 2 United Fruit (13)_. Utd Gas Imp (1) _ Unit Paper'bd b30c.. U S Distributing U S & For'n Secur. :US l*relxhl (1) Hoff'an pf(2 Indus Alcoh S Leather vtc S Leather A vie - S Pipe & Fdry(3). S Realty & Imp__. Rubber . _ U'S Rubber 1st nf _ U S Smelting (b6) _. U S Steel U S Steel f (1) Unit Stk Yds (50c)- Utd Stores (A) _ Utd Strpfal4.813% - Univ Cyclops Sti(1) Univ Pictures 1stpf Utl) Pw&Lt (A)(d) Vanadium Corp .. Va-Car Chemical Va-Car C 6% f b1 Va lron C&Cpt... Wabash (4) _ V.abash pt (A)(d)_. Waldort Sys(+1.20) Walgreen Co (2) Walgr cupf ww 473 Waliker (H) (2) _ Walker (H) pf (1).. Walworth Co Ward Baking (A) Ward Baking (B) ... Warner Bros Pict _ Warne®Quinlan(d) Warren Bros (d) __ War'n Brcv pf (d)_ « Warren Fy & P 12 _ « Waukesha Mot (1) Wayne Pump (2) . Wesson O&S (150c) 3 West Penn El pf(7) 2 West Pa Pwr pf (6) W'n Auto Sup 1.60 . Western Maryland._ Western Pacific Western Pacific pf . Westn Un Tel (3) __ Westingh'se A B(1) Westhse Elec (b2)_ Westvaco Chlor (1) Westvaco 6%pf 1% Wheeling Steel White Motor new . White Rk M S(1.40) White Sewing Mach White Sew Mch pf_. Wilcox Oil & Gas Wilson & Co (50c) . Wilson & Co pf (6)- 43% Woolworth (2.40) _ 307s Worthington Pump. 81 Worth Pump pf(A) 90 Wright Aero (al) __ 65% Wrigley W Ir (13) . 48 7ale&Towne(160c). 20% Yellow Tr & Coach_ 357 Young Spr& W(t3). 74% Ygst'n S&T (b1%) 97% Ygstn S&T pf (534). 40% 30 Zenith Rad (b1%)_. 9% 47 Zonite Products Approximate Hourly and Total Slles on N. Y. Exchange. 11:00 A.M. ___ 260,000 1 4%0,000 0 P.M. 590 000 670,000 Total Sales for the day. Dividend rates as given in the above table are the annual cash payments based on the latest quarterly or half-yearly dec- Iarations 3 Unit of trading less than 100 shares. tAnnual rate— not including extras. aPaid last year. bPaid this year. d Companies reported In receivership or being reorganised T Ex dividend. cocomaaaac PYITEYerS VHBnnRNR® o ] _x, o 23 * WD S AN E — D |+ ® & I+I|v|ne|rllt 115 101 108 59% 34 6% 21% 431 + 93% 13 404 13 Y% i 1 NEW YORK COTTON B3 the Associated Press. NEW YORK, July 13.—Early mod- erate gains in cotton today attracted realizing and Far Eastern selling owing to favorable weather reports from the South- and nervousness over the Sino- Japanese situation. October sold off from 12.44 to 12.35 and in midafternoon was quoted at 12.39, with the list net unchanged to 2 points higher at that time. Trading was quiet. 5 21% 30 19% 26% opz1en EXCHANGES. iy Tome b, 19 Mo T, o Gren !rlul demand, 60-day bills, 4. 88%a: 3:88%: gmmny. cables, cables. travel, n. 266 Switzerland. A Portugal. 4.51; Greece, Gaecholoval kh. 9: Y ustria. 18.80n :i“";/i..\.f"i-i " Mexi &z on ; Montreal, in N !ovk“ 0.8 York in Montresl. 100.174 A L 35% 4% 4% + % GENERAL TIRE-RUBBER TO PAY BACK DIVIDENDS By the Associated Press. AKRON, Ohio, July 13.—The Gen- eral Tire & Rubber Co. announced to- day it would pay accumulated back dividends of $7.50 per share to pre- ferred stoockholders in advance of the regular preferred dividend of July 31, which will be paid to stockholders of record July 20. There are 27,075 preferred shares outstanding. Preferred dividends have been paid regularly since September 30, 1933, but unpaid dividends o $9 a share accumulated from June 30, 1932, to the 1933 date. One payment of $1.50 a share already has been made. —_— Perry Is Honored. Commodore Oliver H. Perry, hero of the naval battle of Lake Erie during the War of 1812, is commemorated by the Kentucky county bearing bis name, A DEFAULTS ARE HEAVY IN FOREIGN BONDS Eyecial Dispatch to The Star NEW YORK, July 13.—With a re- newed flurry of hints from Western European capitals that United States loans would be welcomed by nations financially bowed down by weight of the world armament race, Time maga- ! zine, in its current issue published to- day, summarizes the recently pub- lished report of the Foreign Bond- holders’ Protective Council, described as “an 866-page study in United States gullibility” and revealing that of more than $5,000,000,000 worth of foreign bonds outstanding in this country, $2,000,000,000 are today in complete or partial default. ‘WOOL MARKET. BOSTON. July 11 P (Unlted Btates Department of Agriculture).—In a a mills showed interest buying _unless purchases could made at prices considerably under cur- rent asking prices. There was, however. To. disposition i this market to Jmake any material concessions _from at have prevailed for lev fA list during the greater part of the dav largely to lack of buyers rather than to any selling urge. Steel issues were up at a fairly actite opening. They dipped later when mo- tors began to slide and, despite the | mild rally in the final hour, some were still under water at the finish. Farm implements and specialties did better than the average utilities and rails lacked vitality. | Transfers were around | shares | ‘Big Steel” Again Active. | “Big Steel” was again comparatively lively as gossip was revived in board- rooms that the corporation will shortly do some financing involving valuable rights to stockholders. Packing company issues, such as Armour. Wilson and Swift, received more than the usual attention on rumors of higher meat prices. John Morrell stock, however, was an excep= tion in this group, falling back follow= ing vesterday's dividend omission, On the slipping side the greater part of the time were Bethlehem, Republic, Youngstown Sheet & Tube, General Motors, Chrysler, United States Rube ber, Goodyear, Boeing. Public Service of New Jersey, Anaconda, General Electric, New York Central. Pennsyl- vania, Southern Pacific, Cerro de Pasco and Sears Roebuck. Resistant Stocks. Resistant were J. 1. Case, Interna=- | tional ~Harvester, Deere, Western Union, American Can. Westinghouse, Du Pont, Texas Corp., Southern Rail- way, Great Northern, Homestake Min- ing and Woolworth Narrow were Consolidated Edison, North American, American Telephone, Santa Fe. Yellow Truck. Baltimore & Ohio and Northern Pacific. Douglas Aircraft, notwithstanding an upturn in earnings, gave way. Wheat at Chicago jumped 5 to 6 cents a bushel in response to a run-up at Winnipeg on reports of export shortage and rust damage. Corn was 850,000 ;‘unrhangod to up 2's. Bonds were slightly uneven. CHICAGO GRAIN B: the Associated Press | CHICAGO, July 13.—Running up | like wildfire, wheat prices went as | much as 7', cents a bushel skyward here late today in excited trading. Chiefly what set the market aflame +| were estimates that the 1937 Canadian wheat crop had already been reduced by drought and heat to as low as 125,000,000 bushels. This would be | approximately but a third of normal. At the close, wheat was 5 cents to 6 cents above yesterday's finish, July, 1.2574-1.26; September, 1.26',. Corn unchanged to 2!5 up, July. 1.28'4: Sep- tember, 1.13%-1.14, and oats, 3s to 2 cenls hnghe“ Chicago Cash Market. Cash wheat, No. 1, red, 1.26-26'2: No. 2, red, 1.243,-26"2; No. 3, red, 1.2213- 24; No. 4, red, 1.1813-22; No. 5, red 1.16'2-18'4; sample grade, red, 1.12} 14'2; No. 1, hard. 1.26'3-28; No. hard, 1.26-27; No. 3, hard, 1.24-25%;; No. 4, hard, 1.18%-21; No. 5, hard, 1.1613-1815; sample grade, 1.06-13'3; No. 1. mixed, 1.26; No. 2, mixed, 1.25- 26; No. 3. mixed, 123-24!2; No. 4, mixed, 1.1713-20; No. 2, mixed, gar= licky. 1.19%4; No. 3, red. garlicky, 1.19'4; No. 5, red, smutty, 1.15; No. 3, hard, tough, 1.24!2-25; No. 4, hard, tough, 1.16'3-18; No. 5, hard, tough, 1.15-16; No. 5, mixed, tough, 1.14-15; sample grade, tough, 1.05'4. Corn, No. 32, mixed, 1.25%-27; No. 1, yellow, 1.20; No. 2, yellow, 1.27-29; No. 4, yellow, 1.16-20'4: No. 5, yellow, 1.14; No. 3, white, 1.2812; sample grade, 1.06. Oats, No. 1, white, 52; No. 2, white, 50%4; No. 3, white, 47!3-49%4; No. 4, white, 452 sample grade, 43. No rye. Say beans, No. 1, yellow, 1.463; No. 2, yel- low, 1.46%4-12: No. 3, yellow, 1.44%. Barley feed, 53-70 nominal; malting, 71-80 nominal. Baltimore Quotations. BALTIMORE, July 13 (#).—Wheat, No. 2, red, Winter, garlicky, spot, do~ mestic, 1.22. PASSENGER CAR SALES. NEW YORK, July 13 (#).—New pas- senger car sales in the United States in June were estimated at 325,000 units, against 392,200 in May and 380,000 in June last year, R. L. Polk Co. reported today. Registrations for nine States in June Jeclined 16.74 per cent from May and 13.13 per cent from June, 1936.