Evening Star Newspaper, July 14, 1937, Page 16

A—16 LT FINANCIAL. OUTPUT MOUNTS Weekly Records During June Broke Peaks Reached Here Last Winter. BY EDWARD C. STONE. J. F. Fogarty, president of the North American Co., in his quarterly report on the electric output of sub- sidiaries, states that the Potomac Elec- tric Power Co. established new weekly . output records in June, exceeding the previous peak, which was attain- ed last Winter. Reporting for all the company’s subs idiaries, he added: Electric output of subsidiaries for the first half of 1937 and for the 12 months ended June 30 broke all records of present subsidiaries for half-year and 12- month periods. On the basis of preliminary figures, sutput for the second quarter of 1937 was more than 11 per cent above that for the corresponding period of 1936, and was within 11 per cent of the output for the first quarter, which was the all-time peak. The total output figures for the sub- xidiaries for corresponding periods of 1936 and 1937 were 1 1936, Increase. (Millions_of k.w First quarier 1.6 Second quarter 1 Six mo. 10 June 30 3 12'mo. to June 30 Commercial's Slxtus Noted. Cary A. Hardee, receiver for the Commercial National Bank, has just made his report for the quarter ended June 30 showing cash in the hands of the receiver and controller amount- ing to $54.384.07. This would indif that the mnext payment to the mereial's former depositors is still some distance in the future. The quarterly report places iotal re- maining assets of $4,842,633.13, book value, with an estimated value of $1,686,919.32. These totals include un- eollected assets with a book value of $4,029,477.84 and estimated value of $1,655,270.37; additional uncollected sasets with a book value of $93,409.44 and an estimated value of $21,974.14 and an uncollected stock assessment having & book value of $719,745.35 end an estimated value of $9,674.81. The Commercial National Bank sus- pended on February 28, 1933, having assets at that time of $15,927,888.28, wncluding & 100 per cent stock assess- ment of $1,000,000. Total cash col- lected from assets and stock assess- ment is given as $9,610,275.27. Offsets allowed on assets totaled $574,092.84; sotal losses charged off on assets and sock assessment, $900,887.04. To date the Commercial National re- eciver has paid 60 per cent in divi- dends 1o creditors amounting to $3,- 265,338.24, and repaid a loan of $3.- R12956.78 to the Reconstruction Finance Corp. Industry Near Record. The U. S. Chamber of Commerce re- ports that in the United States the frst six months of 1937 were char- acterized by industrial activity greater than in any other half year, except the first six months of 1929. Activity during these months of 1937 reached its high point, however, in March, holding in the aggregate to this level during the following months, despite the unfavorable influence of labor dis- turbances and acverse legislative pro- posals. If these adverse influences had not been in operation it is clear that there would have been a steady rise in industrial activity during the months following March. Midsummer is a season when indus- trial activity as a whole may hesitate for a period or may, as last year and the year before, pause briefly, and then strengthen gradually into November. Conditions this Summer are favorable to the latter course, the survey states. Seaboard Stock on Market. Public offering by means of a prospectus of 25,000 sahre of $2 cumu- lative convertible preferred stock, no per value, of the Seaboard Finance Corp. of Washington is being made today by Johnston, Lemon and out-of- town firms. The stock is priced at #30.50 a share and the net proceeds, estimated at $550,000, will be used for additional working eapital. ‘The stock is eonvertible into $1 par valle common stock at the rate of three common shares for one preferred until December 31, 1939, and two and one-half for one thereafter until July 1. 1942. The common stock was placed on a regular 60-cent annual dividend basis on July 1. 1ife Insurance Sales Climb. ‘The Association of Life Insurance Presidents reported today that for the fifth oonsecutive month this year new life insurance sales showed an in- erease over the corresponding month of the previous year. Total sales dur- ing June amounted to $825,288,000, compared with $768,076,000 a year Ago, an increase of 7.4 per cent. For the first six months this year an in- erease of 8.9 per cent was registered over the like period of 1936. For the first six months of the year e it aggregate ordinary insurance written totaled $3,006,164,000 against $2,747,- 5$94,000. Industrial insurance in the first half amounted to $1,376,158,000, campared with $1,359,563,000 last year, ‘while group insurance written in the first six months was $379,903,000, against $266,130,000. Gleaned in Financial District. Senator Robinson’s death caused a great shock in the brokerages houses as the news appeared on the tickers shortly after the opening of the New York Exchange. Daily average sales of variety stages for June were higher in dollar than for any June since 1929 and within 1 per cent of the June level last year, the Commerce Department reports. All but 125 of the 5,200 national banks in the United States have al- ready acted to terminate liability for 100 per cent assessment on the com- mon stocks, Controller O'Connor re- ports. July 1 was the date for the ending of double liability. Today’s Trading on Exchange. Mergenthaler Linotype was active on the Washington Stock Exchange today, 19 and 50 share lots selling at 43. Onme share of Lanston Monotype moved at 85. Two shares of Riggs National Bank eommon came out at 326, Potomac Electric Power 514 per cent preferred aold at 112%; and Washington Gas 5s, 1958, changed hands at 105%. Underwriters are busy getting an issue of $75,000,000 Armour & Co. convertible debentures in shape for registration. Just when statement will be flled is not eertain yet. ) THE Wire Direct te The Star. Prev 1937 Stock and High.Low. _ Dividend Rate. & 44% Abbott Lab (11.60)_ 84'4 63% Acme Steel (4) . 15 Adams Exp (b30c). 28 Addressogr’h b95c . 64% Air Reduction (t1)_ 2 Air-Way Electric... 11 Alaska Jun (160¢c).. 2% Alleghany Corp.... 34% Alleg pf ww $30.__ 30% Alleg Steel (b80:)... 215 Allied Chem (6! Allied Mills (b2) Alled Stores (b20c) Allis-Chalm (b%).._. Alpha Port Cmt (1). 4% Amal Leather__ ~ BALBEAnAND WO~ 2584 334 21% 8315 39% 873 1147% 413 80% 160 121 174 71 x 20% Am Bank Note (11)_ 57% Am Brake Sh b1% __ 125 Am Brake Sh pf 6%. 90% Am Can (t4) ... 152% Am Can pf (7) 46 Am Car & Fy (b2be. 77 Am Car & Fy pf(b4) 28 Am Chain & C b50c.. 98 Am Chicle (N)_._ 14 7 1 22 104% 328, 106 2384 Am Crys Sug b2% 88% Am Crys S 1st pf 6. 5% Am Encaustic__ 613 Am & Foreign Pwr_. 37 Am & For Pw $6 pf_. 45 Am& For Pw §7 pf_ 18Y%, Am & For Pw 2d pf_. 14% Am Hawaiian (1)__. LI (0 Am Home Pr(12.40). 17% Am Ice pf (2)_ 12% Am Interntl (lloc)- 587 37 Am Locomotive_. 125 101% Am Loco pf (a8)__.. 29% 18% Am Mach & F (11)_. 16! 7 Am Power & Light_. 7213 40% Am Pw & Lt pf (5)_. 87 49 Am Pw & Lt pf (6)_. 29% 18% Am Radiator 160c__ A5% % Am Roll Mill (2) 36 26% Am Safty Raz (12)_ 29 2% Am Seating (b25c)_ 58 41 Am Shipbldg (11)-_x 170 1053 79% Am Sm & Ref (3) __. 33 154 1381 Am Sm & Ref pf(7). 6714 52! Am Snuff (13) 1 734 48% Am Steel Fdy (b1)_. 19 26'a 157 Am Stores (b13%;) 1 567a 37 Am Susar Ref (2) 4 1433, 124'% Am Sugar pf (7) 25% 21'a Am Sum Tob (1) 187 159% Am Tel & Telex (9)- 99 735 Am Tobacco (5) . 997 74 Am Tobacco (B) b 20's 11% Am Type Founders_ 29% 15'% Am Water Wks 80c_ 14% 7% Am Woolen.. 79 Bl\,Am“oolenpfin). 20 6% AmZinc& Lead __ 691, 473, Anaconda Cop b75¢c- 18 ~ Anchor Cap (60¢)__. 39353 Archer-Dan-M(12)_ 106 Armour(Del)pf(7)_ 7 Armour of [11(b35c) R1% Armour(I11)pr pf 6. 54% Armstrong Cork(2) 1ls Armstrong rts Jy 30 11 Arnold Const b76c 8% Artloom Corp_ 158 Assoc Dry Good: 49% Assoc Invest (3). 92 Assoc Inv pf ww(5). 691 Atch T & S Fe (b2) 93 ATo&SFepf (5) .. 44'4 Atl Coast Line(al)_ 173 Atl Gulf & Wst Ind_ 22 At1IG& W Ipf(a3)_ 27% AUl Refining (+1)___ 15 Atlas Corp (80c) 501 Atlas Corp pf (3)._. b% Austin Nichols_____ 5% Aviation Corp Del_.. 4% Baldwin Loco td) 4% Baldwin asd (d) 20% Baltimore & Ohilo_ 27% Baltimore & Oh pf.. 3814 Bangor & Ar (2%) . 27% Barber Co (b25c). - 22 Barker Bros.. 34 Barker Brospf2¥% . 23'4 Barnsdall (1) _ 20% 13’3 Bayuk Cigar t 114 111 Bayuk 1st pf (7) 28% 2113 Beatrice Cream t1_. 112 105 Beech-Nut Pkg(t4). 30% 18% Bendix Aviat'n b50c 233, 20% Benef IndL b1.32% lflfih 73 Bethlehem Steel(bl, 17 Beth6% pf (1) 129'3 108 Bethlehem pf (7)_. 38 24 Black & Decker (1)- 297 22 Blaw-Knox (b45c)_. 493, 2714 Boeing Alrplane___. Bohn Alum & B(32) .. 41% Bon Ami (B) (2%3).- x 1008 2113 Borden Co (1.60) . 1 3873 Borg-Warner (2)__. 8l Boston & Maine_. 15 Bridgep't Brass(1). 39'4 Briggs Mfg (b1%)_. 41% Briggs & Strat (3)_. 39% Bristol-Myrs 12.40 .. 18'3 Bklyn-Man T (b2%. 653, Bklyn-Man T pf(6)- 23 Bklyn & Queens ___ 15% Bklyn & Queen T pf. 26'% Bklyn Un Gas(1.60) Brown Shoe (3)_. 163 Brunswick-Balk 144 Bucyrus-Eri 7% Budd (EG) M, 58 Budd (EG) pt_ 7' Budd Wheel b20c._. 80% Bullard Co (b50c) 5014 Bulova Watch (14) 17% Burlington Mills(1) 22'3 Burr Add M (80c) 44 Bush Terminal 127 Butler Bros (60: 4% Butte Cop & Z(abc) . o R A YU JEP VR © S 2 7 R 17 39 NONADINRANIR RS EE 18 1 93 19 35% Calif Packing (1%). 2% Callahan Zinc-Lead. 12 Calumet&Hec b75c.. 24 Campbell Wy (t1)_. 231 Canada Dry G Al 11% Canadian Pacific. 44 Cannon Mills (b1) .. 96 Car Clin & O &tp (5) 30 Carpenter St1b1.35. 6% Carriers & G (bl0c). 176% 138 Case(J 1)Co (4) - 129% 112 Case(J I)Co pf(7)-. 100 85 Caterpillar Tr (t2)_ 105 102% Caterpillar pf (5) — 41% 26% Celanese Corp bl_ 481, 36% Celotex Corp b40c__ 39% 30 Cent Aguire (113%)- 12% 615 Central Foundry._... 41% 18 Central RROfNJ.. 86% 60 Cerro de Pasco (4)-. 82 4814 Certain-teed pf__ 63% 35% Champion P&F b1% 111 107 Champion P pt (6) . 67 Chesapeake Crp(3).- % 50% Ches & Ohio $2.80 2 ChiGrt West (d)___ 8% Chi Grt West pf (d). 243 Chi Mail Ord 1% _.. 1% Chi Mil St P&P (d) - 34% Chi M St P&P pf(d). 35 13 12 34 32 X 60s 1 10 2 1 9 5 1 35 ChiPneuTptf (3)_. 2 ChiR1&Pac(d)__. 433 Chi RI&P 1% pf(d). 14 Chi Yellow Cab (2)_ 15% Chickasha Cott'n Oil 91 Childs Co___. 94 Chrysler Corp ba%- 17% City Ice & Fuel (2)- 3 80 CityIce& Fpf6l.. 108 6% City Stores_ 3 WRNN RO~ O N8 32% Clark Equip(11.60) 35 Clev Graph (b1)___. 23% Cluett Peab’y b26 170% 1221 Coca-Cola (12)__. 25% 17% Colgn.-P—Pan)- 623% 47% Collins & Alkn (12). 51% 31 Col Fuel & (ron(bl) 20% 10 Columb G & El(40¢c) 108 80 ColG&EDLA (6)-. 39% 28% Columb Pio vto (1) 125% 111 Col Carb vtc (14) - 69% 56% Comcl Credit (14)._. 80% 63% Comel Inv T (14)... 21% 13 Comcl Solv (t60c).. 4% 2 Comw & Southern.. 75% 46 Comw & Sou pf(3)_. 45% 34 Congoleum-Nrn(2). 33% 19% Consol Alrcraft. 18% 9% Consol Cigar. 49% 31% Cons Edis N '('l)_ 108 99% Cons EA N Y pf(5).. 5% 2% ConsFilm __ . ____ 10 Consol Film pf(a2). 14% Consol Ofl (180¢)-- x 4% Cons R R Cuba pf..... % Cons Textile (d)_._. 81 Cons Coal(Del)vte._. 33 Cons Coal Dl vto pt 20% Container Corp 1.30. 18% Contl Baking (A)... 21 Contl Baking (B)._. 50 ContlCan (3) ... 35% Contl Lnsur (11.60) 39% Contl O1] Del (t1)._ 26 Contl Steel (1)a——— 44 3 43 - les— Add 00. % 21 176 508 122 70 100% 36% 8 108 3 aylight saving time. Net High, Low. Close. chge. 48 + 6 18% — 30% — 10s 132 9 104% 2 155 54 82 317% 1103% 4 2815 514 923, 1 140% 554 584 1815 467y 3127 2314 14170 5 14 930y 183 355 37 141 30% 26 11% 46% 9714 34 7 170 173 122 122 97% 95% 97 2 108% 108% 103% + 8 37% 36 36! 42 32 815 1915 1% 42 -1% 40 41 42 4+ % 28% + % 160 — 3 18% — 3% b63% — 3% 3% — % 12% — % 87% +1@ 12% 87‘6 30 30 3128 121% 121% ~2% 63 -+ % 67 +1% 13% — % 2% + % 53 LY 37 25 12% + 35% 36% + 102% 102% 8% 3% + 13% 13% + 15% 16 + 6 6 SFER % + 104 + 40% + 31% + 26% — 31 — 55% — 39 AT% + % 31 +i% FEERFELESIHES EVENING STAR, Prev 1937 High. Low. Dividend Rate. 77 621% Corn Ex Bank (3) .. 71% 54% Corn Prod Ref(#3)_ 171% 153 Corn Prod R f (1)_ 10% 6 Coty Inc. 56% 40 CraneCo 121 113% Crane Co pf (1) 1113 100% Crane Co cv of (5) . 28% Cream of Wheat (2). 1813 Crosley Radfoal1%— 68 Crown Cork & S(2)_ 39 CrnCA&SDf xw 23 . 16% Crown Zellerb_____. 51 Crucible Steel _____ 1% Cuba Co __________ 8% Cuba RR pf__. 7% Cuban-Am Sugar .. 37% Cudahy Pkz (234)__ 814 Curtis Publishing_. 5 Curtiss-Wright ___. 16% Curtiss-W (A)a50o. 734 Cutler-Ham (b1)___ 12% Davera Stores(+1)_. 19 Davega cum pf 1% 991 Dayton P&L pf 4%_ 104% Deere & Co - 5 177% Delsel-Wem-G (+1)_ 33 Delaware & Hudson 13% Del Lack & Weat _ 4 Den&RG W nf(a)_ 59t Devoe & Rey A (13). 26 Diamond Match (+1° 34 Diamond Mpf(+135) 14% Diamond T Mot (1) 201% Distil Corp Seag R0 Distil C Sea pf ww § 38% Dome Mines (+2) 9 Dominfon Stores 4713 Donelas Afreraft _ 129 Dow Chemical (3) 45% Dresser (A) (a3) _ i Dunhill Tnternatl . 180% 14815 Du Pont de N(b2%). 17 9% Fastern Roll Mille _ 179 151 F¥astman Kodak (8) 2915 Faton Mfg (2) ___ 10% Eitineton-Sehila _ 34% Elec Auto-L b1.40 9% Flec Boat (afic) _. 14« Flee Pow & Light . y\v, Elec Pw & 7.t $R pf _, “lec Pw & Lt $7 pf 3215 Elec Storare Rat (2) 2 FElk Horn Cl nf (4) _, 21% F1 Paso Nat G 1 60_, 4% Fauitahle Office B 1 Stock and 2)“" 1007% 4T% 25% 81% 8% 1415 34% 6% ) o T4 | 70 102 118 714 Fureka Vacunm 18 Fvans Prod (£1) 2% Fxchange Buffet 2 P‘q!rhxnks Co. 45%% Fajardo Sngar (h2).. /K1y Fed Tt & T f (6) fli Federal Motor(40c) 113 5'; Fed Serew Works__. & 3 Fed Water Sve A 43%¢ 36 Fidel Phoenix +1 £0. 41% 21 Firestone T&R (2)_ 10715 10114 Firestone nf A (£) _ 5921, %914 First Natl Stra t214, 4R, 261, Flintkote Co (1) ___. 2915 331 Florsheim A (2) 9y 4% Follansbes Bros(d) 58 473 Food Machine (1) 128 108 Food Mach vf(414). 5415 371 Foster-Wheeler 7ia Franeisco Sucar 55 Franklin S pf(afy) 24'4 Freeport Sulph (1) 413 Gahriel Co (A) 11% Gair (Robert) 1013 Gen Am Inv(aT5e) _. 10% Gen Rakine (+60c) 7% Gen Bronze. 20 Gen Cable 2912 Gen Cable (A) . 2415 Gen Clear (+4) _ 49% Gen Flectric (b80c). 36 Gen Foods (2) . - 115 Gen Gas & Eler(A). 117 Gen Mills pf (8) __. 7015 4813 Gen Motors (h11)_. 122%113 Gen Motors of (5) 3 425 Gen Outdoor Adv A_ 15' Gen Print Tnk b30c ... 24 Gen Pub Service 41% Gen Rv Signal (1) 3 Gen Realtv & TTtil _ Gen Realty & U nf. Gen Refract (h2)___ Gen Steel Cast pf 1415 Gillette S Raz (+1)_ T8 Gillette SR of (5) 2014 Gimbel Bros 40% Glidden Co (+2) ___ 511 Glidden cv pf(2) 4 Gobel (Adolf) 5%5 Goebel Brew (120¢). 21 Goodrich (BF) b50c. 77% Goodrich pf (5) 273% Goodyear T & R h1 100 Goody'r T&R pf(5)_ 75, Gotham Silk Hose 82 Gotham S Hpf (T)_. 8 Graham Paige Mot_ 615 Granhy Cons___ _ 213 Grand Union ctfs 22 Granite City St1(1) _ 3415 Grant (WT) (+1.40) 405« Grt Northern pf__ __ 173 Grt Northn Ore (1) . 34 Grt West Sug +2.40. 5 Grt Wst Sug pf(7)_. 274 Green (HL) (11.60)_ 12% Greyhound (+80c)_. 2 Guantanamo Sug. _ 44 Gulf Mobile & N of_ 27 Hackensack W bT5c 'a Hamilton W (b65c). 9% Hanna (MA) pf(5) 40 Harb-Walker (12) 124 4 Hayes Body __ 109% 100 Hazel Atlas Gl (+5) 157 11% Heckers Prod (60c) 39% 24 Hercules Motor(t1) 135'3 125 Hercules Pdr pf(6). 37 3214 Hinde&Dauch (b1) . 52% 35'% Holland Furn (b1) _ 12074 101% Hoiland Fur pf(5)_. 30% 21 Hollander & Son(1) 431% 50% a1 277% 17% 9014 471 Homestake b373;¢ 34 Houd-Hersh A(2%) 18 Houd-Her B (11%)_ 1214 Houston Oil vte . 62% Howe Sound (13)_. 23% Hudson & Manhat__ 674 Hudson & Man pf__. 13y Hudson Motor. 3 Hupp Motor.. 21 Illinois Centra 121% Indian Refin (21)-—. 33 Indus Rayon (2) 124 Ingersoll-R'd (b1%) 94 Inland Steel (14)_. 17% Inspiration Cop . 45 Insur Sh Md (b1 41 Interchem Corp(12). 4% Intercontl Rubber. 1645 Interlake Iron 9% 5 Intl Agricultural_ 6313 42 Intl Agri prpf(b3)- 189 146% Intl Bus Mach(6)_. 113% 99% Intl Harvester(234) 16% 8% Intl Hydro El A. 15% 6% Intl Mercantile M 18% 10 Intl Mining (b30c)- 73% 55t Intl Nickel (b1)-——- 24% ]B 12 1% 57% 49% 154 23% 4 38 22% 47% 144 131% 33% 6 64% 1% 2815 43% Intl Ry CAm pf Ao 41% Intl Shoe (+2)_.. 15% 9% Intl Tel & Te! 36% 20% Interstat Dp Stb2}% 107% 100 Inter Dept St pf(7)- 30 25% Island Creek (2)... 87% 69% Jewel Tea (f4) . 155 120 Johns-Manv (13)... 136 117% Jon&L 7% pfb3%._. 28 Kalamazoo S (11).- 15 Kans City South. 256 Kaufmann (11.60)_. 20 KayserJ & Co (2) .- 3% 12% Kelsey-H A (a1%).. 19% 9% Kelsey-H B (a133). 109% 101 Kendall pf A (16) . 51 Kennecott Copbli. 14% Keyst'e S&W b45c_. 44 Kinney pf (a1)_ 31% Kinney (GR)pr pf 5. 8% Kre Dept Stores. 20% Kresge (S S) bé0c. 71 18" Kroger Groo (11.60) 8% Lehigh Val Coal pf. 13% Lehigh Valley RR .. 36 Lehman Corp'n(t1). 14% Lehn & Fink b62%c. 40 Lerner Stores(t2)_.. 58% Libbey-Ow-F b76c... 9% Libby McN & L(a1). 25% Life Saver (11.60)_. 93 Ligg & Myers (14)_. 944 Ligg & Myers B ¥4 . 175° 151 Ligg & Myers pf(7). 69 Lima Locomotive... 6413 Loew’s Inc (12). 1 LoftIne._ - 5014 Lome Star Cem (3) . 1 29Y% Holly Sugar (b2%) x WAS Bales— 408 13 x 0% Hat Corp of Am 80¢ x 10 210s - a BT T S-S0 A Y A - Y . 64 6315 1574 64 6314 157'% % 46% 1164 114% 12% 10% 13% 613 174 102'4 6% 517 424 124 25% 103 29 28% T4% T4% 130 129 124 124 341, 34 185 2 156% 156% 67 66 59% 52% 81% 2% 57 HINGTON, Add 00. High, Low. Close. ehn 64 6314 157% at {52 o b ] U8 o F A P FEF FFEF FRIEFFIIE FIF 14+ 2+ W 3 3215 +lk D C Prev 1937 Hg{h. Low. Stock and Dividend Rate, Bales— 4 Loose-Wiles (2) ... 20 Lorillard P (11.20)_ 127 Lorillard P pf (7). 19% Louis G&E A b37%e 82Y% Louls & Nash b2% .. 29% Ludlum Steel (11)_. 30'3 MacAndrew&F (12) 24% McCall Corp (12)_. 14% McCrory store: 40% McGraw Elec ("‘)—- 32% Mclntyre Porcu(2) - 314 McKeesp't Tin P (2) 12% McKesson & Roo. .. '« McKess & Rb pf(3). 4 McLellan Strs b760. 40% Mack Trucks (11) .. 44 Macy (R H) (12)_.. 10% Mad Sq Gard bl1.] 42 Magma Copper (2)-. 3% Manau Sugar (d) ... 14 Manau Sug pf (d)-o 15% Manhat Kl gud (d) . 184 Manhat Shirt (1 #% Maracaibo U1l Exp_. 9% Marine Mid (140c) . 18 Marshall Field_. 19's Marun (Glena, 7 Marun-Parry-oee-- 48! Masonite (11) 325 Mathieson Alk (1%) N 3 T, HEXN=T AW RN e 1 B2 00 Mead Corp (bd0c) -~ 9313 Mead Corp DL (6)-au 9% Meugel Co_. 145 Miami Coppe| 254 Mid-Cont Pet (b50c) 33T Midld SU Prod(12 11 Minn Moline Pow. 8813 Minn Moline Pw pf_ A MSLP&S S Msin.. » Mission Corp (bl) .. 1 Mo Kans & Lexas.. Mo Kans & Tex pf A Mo Pacitio (d) Mo Pactic pt (d) .. Mohawk Carp 71.20. Monsanto Ch (b1)_. Monutg Ward (12) . Morris & £5x (3% ) - Mother Lode al2bsc. Motor Prod (blz) . Mueller Brass (11)~ Mullins B (a00c) o Munsiugwear (3) Murply (G E) 8.20 Murray Corptasue). Nash Kelv (1) Nall Avialon (i)~ Natl Biscuit (1.60) - Natl Boud & In 1.44. Naul Cash keg (1) o Natl Lairy Pra 1.20. Natl Dairy pt A (7). 1 Natl Dept Stores ___ atl Dept Surs pf _ L istiliers(T2). x Natl Gypsum - Natl Lead (Td0c) o Natl Pw & Lt (60e) . Natl Ry Mex Iat pf_ Natl Hy Mex atl Steel (1 Natl Supply u Natl Supply pf bl atl Tea. ewberry J J1z.40_, New Orl T&M (d) Newp't Indus bl .. N Y Air Brake (al)- Y Central YChi & StL - Chi&StL pt A y Omnibus__ Yock Dock pf Y Investors (d)_— NYNH&H (d)____ NY NH & H pt (4)_ N Y Ontarfo & W ___ Y Steam 6% pf__ NYSte'm 7% pfA_ North Am Avlallon North Am Co (b§0c) Northern Pacific - Norwalk Tire & R Ohio 011 (b30c) Oliver Farm Equip_ Omnibus Corp vte_ Otis Elevator bi0c Otis Steel ._ OtisStlev pf (5%) Owens-I11 Glass (3) Pacific Am Fish 1.20 Pacitic Coast.. - Pacific Coast 15t pf._ Pacific Coast 2d____ 2X1a Pac Gas & Elec (2)_ 401 Pac Lighting (3) Pacific Mills (bl) 20% Pac West Oil(a65c). 7'y Packard Mot (bl15c). 2 PanhandleP&R___ 60 Panhandle P&R of 6174 Paraffine Cos (b2)_ 16% Paramount Pic 15t Paramnt 2d pf 60c_. 4 Park Utah = 3613 Parke Dav: 40). 23 Parker Rust (11%). 6 Pathe Film Corp . 1414 Patino Mines a60e 3%y Peerless Corp 8 Penney J C) (4) 5'¢ Penn Dixie Cement._ 34l Penna R R (bilc)- 4314 Peoples Gas Chi_. 303, Pere Marquette ___ 161« Petrol Corp(A) b4oe Tt Pfeiffer Brew béic _ 40 Phelps Dodge bSoc 3813 Phila Co 6% pf (3)_ 1 Phila& Read C&I_ 70 Philip Morris(b3%) 11% Phillips Jones ____. 4913 Phillips Petrol (12) 28% Pilisbury Flour 1.60 1014 Pittsburgh Coal ___ 12 Pitts Screw (b4ic) - 2413 Pltts Steel 84 Pitts Steel pf. 2% Pitts United 971 Pitts United pf. 29 Pitts& W Vi 1 Pittston Co ._ 247 Plymouth Oil b70e 21% Poor & Co (B) __ 4% Porto R Am Tob A _. 7 Postal Tel&C pf(d). 171 Pressed Steel Car__. 18 Press Stl 1st pt 235c_ 54 PressStl 2d pf 2% . 5514 Proctor & Gam (2). 36% Pub Svo N J (2.60) . 51% Pullman Ino (1%) 16% Pure Ol __ ____ 99 Pure Oil 6% pf(6)_ 1 10714 Pure Oil pt (8) 1 15 Purity Bak (60c) 7% Radio Corp 63 Radlo 1st pt 4 Radio-Keith-Or (d). 29 Raybestos M (11%) 2 Reis (Robt) 1613 Reliable Stores (1) 21 Rem-Rand (b53c)-. 5 Heo Motor Car. 2714 Republic Stee) 971 Republic pr p: 32 Revere Copper. .. » 22' Reynolds Met (11) 161 Reynolds Spr (11) 5914 Reynolds Tob (3) . 49 Reynolds Tob B (3). 30 Ruberoid Co (60c) 315 Rutland R R pf_ 31 Safeway Smru(tz) 103 95 Safeway Strs pf(5). 113 99 Safeway Strpf(6)_. 113 _104Y% Safeway Strs pf(1). 65~ 43% St Joseph Ld (i2)-. 4% 2% St L-San Fran (). 1Ua 4% St L-San Frpf (d).. 513 38% Schenley Dist bl% .. 9814 93% Schenley pf (5%)_— 3% 1'% Schulte R Strs (d) . 3108 24 N N N N ¥ Y < Y , 15 4208 1008 112% 23% 67 58 38 94 46 WEDNESDAY, POTOMAC POER ' TRANSACTIONS ON THE NEW YORK STOCK EXCHANGELY I§ NFFE Add 00. High. Low. JULY 14, 1937. Prey 1937 High. Low. 235 2% 8% 2! 2% o + 9% 129 119'/1 7 44 197% 25 29 95 9 12 25% 105% 102 Shell Un Skelly O Snider Pkg (b1%)._. So Cal E Spang C| Spear & 4 Spiegel, Lok VLA 1% tand Of Stand Of Sterling Stone & Sunshin, Superhes 21% Swift & 297 Swift In 151 Syming yming 10% 'Tenn Co; 6 Texas G 2008 1095 11% Tex Pac 10 Texas P 392 0%, 12k a1 1414 BN 10% it 78 Thermol. 23 15% Tide Wa 91% Tide Wa 173 Timken 55 12 16 Trans W Transue 814 Truax-T 14 Truscon 20% 20th Cen K14 Twin Cit 1615 Twin Co: 73 Tnd-Ell a5 2974 TTnfon OFf 122 1< Tnit Air 14 221, 1Tt Rise: 4 221, 45'% 1Ttd Ene R6% 11 T'td Gas 1614 Rk 2014 24% 2474 115% U S Dist 15 151 17 S Fref rEESTS 2314 7 15% 17 S Hoff 28 441 10 44, U S Rub U S Stee! 17 S Steel 75 1261 1813 Tniv Oy 62 24'x Vanadiu 2'a Wabash R6¢ Wabash 1275 Waldorf £415 Walgr ¢ 4215 Walker 114 Warner 4 Warren RS u. ‘Warren 34 4313 Wesson 80 Wesson 89% West Pe 90'; West Pe 51101 West Pa 24 7% Western 2 Western 515 Western L+11 e b8l 21% 02 10 153, 2T% 347 65 11074 334 38 99 Wheel S 14% White R! 30% Worthin ]1 8213 Wor P c 65% Wrigley 37% 465 1017% 115 40% 9% 30 31:00 A.M. 1:00 P.M. Dividend rates cash payments based Iarations | not_inciuding extras. 1% ividen: Stock and Dividend Rate. 12% Schulte RSpf (d).." 1 1% Seaboard Air L (4) . 4 Seaboard A L pf(d). 16% Seaboard Ofl (1) _. Sears Roebuck (3).. Servel Ino (1) .. Sharon Steel (11.20) Sharon Stl pf (5) ... Sharpe & Dohme.___. Shattuck F G (60c) . Shell Un Of1(b50c) - 50% Taxas Corn (7) 22% Texas Gulf Sul (+2) Thatcher Mfg (11)_. 9153 The Fair 3 Third Avenua Thomp Prod bafe 313 Thomn=on Starrett_ -Detroft(+1) Timk'n Roll Bre(3) 1215 Transamerica 50¢c 714 Tri-Cont'l (b25e) 2 Ulen & Co -F Union Pag & P (2) _. TTnion Carb (2.20) Union Pacifio (8) 9014 YTnion Pacific of (4)_ * TTnion Tnk Car 1 80 TTtd Alr Lines a20c_. 694 1Ttd Carbon (4) ____. Utd Corp (a%0c) T7td Corn of (2} % United Drug (b25e). 1814 Unit Dyvewood t1) 5% 17td Flee Coal 7514 United Fruit (3) 11374 102% T'td G Tmp nf (5 612 Unit Paner'bd b20c_ 112 17 S Distributing U S & For'n Secur. 102% 1T S Gynsum (12)_. T S Tndus Aleoho U S Pipe & Fdrv(3). U S Realtv & Tmp 8113 U S Rubber 1st pf. 53 Unit Stk Yds (50c) - 274 TTtd Stores (A) Univ Picturesistpt 15% Util Pw&Lt (A)(d). 1'2 Vadsco Sales Corp.. 40 Vick Chemica) (+2)_ 7 Va-Car Chemical 4815 Va-Car C 6% pfblls 247x Walgreen Co (2) 11% Walworth Co N ‘Warner-Quinlan (d) 2614 Waukesha Mot (1). x Wayne Pump (2) .. 4'4 Webster Eisenlohr . ‘W'n Auto Sup 1.60 _ 41'4 Westn Un Tel (3) _. 167% 130% Westhse Elec (b2) _. 19 Westvaco Chlor (1). 2914 Westvaco 5%pt 1%. ‘Wheeling Steel 20 White Motor new 25 White Sew Mch pf.. 4% Wilcox Oil & Gas 813 Wilson & Co (50c) - 77 Wilson & Co pf (6). 43% Woolworth (2.40) __ Worth Pump pf(A) 45 76% Worth Pump of(B). 204 Yellow Tr & Coach_.. 357 Young Spr& W(t3). 74% Yest'n S&T (b1%) . 97% Ygstn S&T pf (53%). Zenith Rad (b1%) . 47 Zonite Products ___ Approximate Hourly and Total Sales on N. Y. Exchange. Total Sales for the day. 1,040.000 URit of trading less than 100 shares, t. FINANCIAL. Bales— Add 00. High, Low. Close. 14% 149 1415 LTS (78 1) 515 5 B 461 44% 447 93 91k 91% 29% 29% 29% 26 36% 105 105 10% 1015 135 28 % 10414 147 483, 5915 2 Oll pf 6% .. i1 lhoflc) 4 Sloss-Sheffield Stl_. 12 Smith&Cor cfs 12 4 Socony-Vac (b26c) .. 31 South Am G & P 30c. South Port Sug(+2). dison +135 Southern Pacific Southern Ry-_ ' Southern Ry pf hal pf (b9) - Sparks-Withing _. Co (a50¢) Sperry Corp vte(al) Spicer pf A (3) Ine (1) Spiegel cum pf (4 Square D (B) bé0c Stand Brands(t80c) Stand Com Tobac .. 4 Stand Gas & El (d) . Stand G&E $4 pf(4). Stand G&E $7 nf(d). Stand Ofl Calif(+1)_ 11nd (+1)__ INJ (+1) Prod ¥2.50 _ Stewart-Warn #50¢c. Stokely Bros (t1) __ Web(a25c). Studebaker Corp Sun Oil (1) _ e Min (2) ater (1) . " 414 Superfor o1l 28% Superior Stee! Co (11.20) ternatl (2)_ ww (h35c)_ xw (b35c) . 101 Taleott (1) fic = 2 Telautogranh(fic) x rp (h25¢) . ulf Prase _ C&O b10e LT (ar0e) 9 4 Co .. ons t As Oil 300 tAODf41; e ST E PRl SO x = st Afra & W (+60c) raer (80c). x Steel = t Fox (b1)_ YRT - ach (b30c) - 12 b1 + 1 L1 10Calif11.20 craftbife . - i wuarasaiowaBNiavnRewnn uit (1.60) .. AR u-ms~nwNono &Fy (+2)_. Tmp (1) ributineg pf. ght (11) ‘man __ her Andanan LS 1of (T) _ o 9 clops Stl(1) 101 SwoaE =0 m Corp o -1 =1 ) _ i —1% nf (A Sys(+1.20) 19— e wnsnawaRRTenallnwna upf ww 4! (H) (2) Bros Pict Bros (d) Fy&P ox O&S (+50c). O&S of (4). nn E1 A (7). nn Bl of (7). Pwr pf (6). 108 608 508 5 Maryland. 1 Pacifie.. . 6 Pacific of_. w0 3 404 Westingh’se A B(1) S8eaxn3 —re teel pf b2iz. k M S(1.40) E3 51059 [PPSO PRI § gton Pump. u pf B stpd . Wir (13) . ~ 2 5% 5% — 310,000 630 000 12:00 Noon.. 2:00 P.M._ 510,000 770,000 as given in the above table are the annual on the latest quarterly or half-yearly dec~ tAnnus rate— last year. d Compantes | reported tn recetvershin "o boing reoreamised NASH-KELVINATOR GETS ELECTROMASTER, INC. By the Associated Fiess. NEW YORK, July 14—Nash- Kelvinator Corp. has acquired & con=- trolling stock interest in Electromaster, Inc, makers of electric ranges and water heaters, it was disclosed today. The transaction was effected by ac- quisition of 50,040 shares of unissued $1 par capital stock of Electromaster in accordance with an option. Nash- Kelvinator also bought from a stock- holder 26,951 shares and $156,462 of 6 per cent convertible income bonds, which were converted into 31,292 shares of stock. 108 BUSINESS FAILURES. NEW YORK July 14 (%).—Business failures in the United States for the (h week ended July 8 totaled 108, lowest | July for any week since 1920 due to the July 4 holiday, Dun & Bradstreet reports. This compares with 155 in the full |M preceding week and 140 a year ago. A NEW YORK COTTON BY the Associated Pre NEW YORK, July 14.—Early losses in cotton today under Far Eastern selling and owing to favorable weather in the South were partially recovered on trade buying and covering in July. October advanced from 1235 to 12.44 and in midafternoon was 12.42, when prices ranged from 2 points higher on July to 2 to 4 net lower on other months. Prices rallied at the close on cover- ing and local and New Orleans buying, finishing steady unchanged to 8 points higher; July, 12.47; October, 12.47; December, 12.38-39; January, 12.39; 12.43; May, 12.46. Spot steady; middling, 12.97. Putures closed steady, unchanged to 8 igher. Low. B) & $1,500,000 SOUGHT. ‘The Chicago & Great Western Rail- road has asked Interstate Commerce Commission authority to issue and sell $1,500,000 of 32 per cent equipment trust certificates. Proceeds from the sale would be used to refinance leases on equipment. . SHOE SALES UP. NEW YORK, July 14 (#)—8ales of Schiff Co., chain shoe store operators, totaled $6,212,754 in the first six months against $6,057,100 in the same period last year. June sales amounted to $1,277,707 against $1,231,582 last year. .. (}AS PRICE ADVANCES. PITTSBURGH, July 14 (#)—The Guif Oil Corp. has announced a one- half cent per gallon price increase for gasoline to its dealers in West Virginia, Virginia and Maryland, effective im- mediately. *| New York Central, 21 Pius . | canada. +. | friends of higher prices was appareni T | BYPROFIT SELLING Early Gains Heavily Pared or Eased—Even Steel Slips. Stock A\ \verages T an Indus. Rajis. l'm Stks 3 .3 Unc 421 675 418 675 400 638 515 668 540 1753 391 626 537 128 Net change_ Today, close 945 Prev. day . 94.2 Month ago. 88.1 Yegr ago. __ 886 1937 high___101.6 1937 low. 879 1936 high... 993 1936 low._... 734 302 434 557 1932 low 175 87 239 169 1929 high...146.9153.9 1843 157.7 1927 low. 516 953 613 61.8 40.0 406 396 376 495 36.1 435 (Complled by the Associsted Press.) BY VICTOR EUBANK. Associated Press Financial Writer. NEW YORK. July 14 -Last-houy | profit selling nipped a stock marke: rally in the bud today, with early gains heavily pared or erased Even the steel shares, which ha¢ assumed leadership of the upwarc climb, slipped as offerings accumu. lated. Utilities were resistant, but rails, after accumulating modest g: tilted backward at the finish. Traders found the day’s news budge! satisfactory, but buyers apparently | retired as specific levels were reache¢ and the list drifted without definit trends, Trading was active in the early hours, then sloped off. only to pick ug again toward the close Tran. | were about 1,000,000 shares U. S. Steel Mounts. United States Steel mounted aronné |3 points at the start, held up wet most of the day, but finished abou where it started. In a narrow groove | were Bethlehem, Republic ane Youngstown Sheet & Tube Holding to the plus side most o + | the session were American Telephona Western Union, Consolidated Edison Electric Power & Light, Beere ant International Harvester. In a limited range at the finist were Standard Oil of New Jersey Texas Corp.. Pure Oil, United State: Rubber, Anaconda, American Smelt. ing, Boei Studebaker, Woolworth Northern Pacific, Du Pont and Gen- | eral Electric Stock Losers. Losers of fractions to | more inciuded Chrysier, | General Motors, Goodyear, |ery Ward, Sears & point o1 Goodrich Montgom« Roebuck, Santa Fe Southern Pacific | Baltimore & Ohio and Douglas Airs crafr urgh United Corp. preferred jumped widely following a court des | cision ordering redemption of the stock and denying a receivership for the company Bonds were mixed and quiet. Wheal at Chicago finished unchanged o 1'4 cents a bushel higher. Corn waz 7 10 1 cent lower. Both the pound ster- | and French franc were down it ation to the dollar. CHICAGO GRAIN B the Associated Press CHICAGO. Higher priost on wheat formed the rule late today as well as early. Crop reports str done by black r areas both of the U d damage being in Spring whea! ited States anc A handicap, however, 14 | absence of any export buying today | either of United States or Canadiat «| wheat At the close wheat was unchanged to 1's cents higher, compared w | yesterday's finish; July, 1.26-1.26' September, 1.277g- corn, 7g-1%4 | down: Se;)wmber. 1.127;-5%: Decems | ber, 811 , and oats 33 off to 's up WHEAT— S i Zuly | 8ep. Dec CORN Chicago Cash Market. Cash wheat, No. 1 red, 1.29%5: No. 129%,-15: No. 3 red, 1.27%+ No. 4 red. 1.22,-24; No. 5 red, sample grade, red, 1.16; No, 1 hard, 1.33'2-34', ; No. 2 hard, 1.30!5- 31%,; No. 3 hard, 128-28'3; No. 4 hard, 1.22-24; No. 5 hard, 1.19%-21: sample grade, hard. 1.09-10%; No, mixed, new. 1.19';: No. 4 hard, tough, 1181, No. 5 hard. tough, 1.15%- {173 : No. 5 red. tough, 1.17%; sampla hard, tough, 1.08', ; No. 2 red. garlicky 1.241,: No. 4 red. smutty, 1.19%: No. 4 hard, smutty, 118',. Corn, No. 2 yellow, 1.281,-30; No. 3 yellow, 1.27% ; No. 4 yellow, 1.24!,-27" Oats, No. 1 mixed, No. 1 white. 52'3; No. 2 | white, s No. 3 white, 50; No. 4 white, 47-49. Rye, new crop. No. 1 105, Barley. feed, 53-70n; | 71-90n. n—Nominal malting, Baltimore Quotations. | BALTIMORE. July 14 (/. —Wheal. No. 2 red. Winter, garlicky, spot do- mestic, 1.23%; July, 1.23'5, |AIRPLANE DELIVERIES REACH ALL-TIME HIGH ‘The Aeronautical Chamber of Com- merce reports airplane deliveries n May reached an all-time high, valued at $8,960,000. This compared with $8.908,000 in April and $6,296,000 in May a year For the first five months of this year, deliveries are reported af. $39.435.000, compared with $25,175,000 in the sams period & year 2go, or an increase of 56.6 per cent. New England Fund Prospectus on Request A. §. GouvLpen & Co., Inc. i Woodward lldg NA. 2000 . . .