Evening Star Newspaper, July 14, 1937, Page 17

FINANCIAL. - (ILS ARE LEADERS [N CURB MARKET Trading Is Quiet and Most Stocks Churn About Indecisively. Br the Associated Press. THE EVENING STAR. Stock and Bales Dividend Rate. Add 00. High. Low. Close. Intl Petrrg t1% . g 8414 344 34% Believes That Majority Are Firm Believers in Demo- cratic Government. Intl Products _ 6 B bM By the Associated Press. WASHINGTON, D. €, WEDNESDAY, JULY 14, 1937, FINANCY kg A—17 TEXTILE ACTIVITY INSHARP ADVANGE Soars 24 Per Cent in Five Months—Price Adjust- ments Made. The Stock Market of 1926 Compared* with That of the Present Year Closing Prices of 50 Leading Stocks imes Averagos) All time shown below is daviight saving en which the Exchange is now eperating. 2:30 ®tock and Sales— Dividend Rate. Add 00. High. Low. Cloae. Acme W vte (2) . 25a 4Tl 47% 4T% | Ainsworth b2ie) . 3 14 { Alr Device Corp_. 2 2% Air Investors 1 3 Ala Pwr pf (6)__. 1008 64 Alabam Pw nf(7) 10s ‘2 Alles Fisher ____ 2 Aluminum of Am 150s Aluminum Ltd . 150s Am Airlines Inc_ Intl Radiob2be _ 8 15 14% 14% Intl Utit (B) ___. 42 JLA LN Intl Utl warnew 5 -. Inters Home Kq 1 1 Inv Rovalty féec . 1 L] Iron Fire vic 1.20. 50s 22 | 1tal Sup'pwd r 1 L3 Jacohs(FL) (1) 3 141 Jones & Laugh St 4 111 Kings ¢ T, pt D5 108 45 Kingston Pr 40c ] 4 Knott Corp b20c_. 114 Based Upon Average Dail Ny T The course of the markets and business this yeoar recalls 1926 o the mind of some oldsters. In both years, a stirring early market was folowed by e 144 110 45 4 1y N . NEW YORK., July 14.--Oils came forward in quiet curb market trading today. Most stocks churned in- decisively. with swings confined to parrow limits. Creole Petroleum Gulf Oil, Humble and Pantepec worked up fractions. Sunray was un- changed, while Cosden and Inter- national Petroleum slipped back a little. climbed 'z and Am Rox R'd btje Am Centritugal | AMCP&LAWW2 % | Am CP&L B azic Am Cynm B 160c. | Am Equita22ic. | Am & For Pw ww | Am Kork&H (11). Am G&E (1.40) Am G&E pf (6)__ Am Gen (a50c) Am Gen pf (2) . Am L& T t1.20 191 331, 108 10 3L 181, Utilities followed mixed trends Flectric Bond & Share scored a slight | Rain and American Light & Traction lost ground. American Gas & Electri¢ improved, while American Superpower | kept even. | Tilting forward were Technicolor, American Cyanamid “B” and Con- #olidated Steel Fairchild Aviation, Cities Service and Eagle Picher drifted | lower, | | Anchor Post F AmL&TDf 1l Am Mfg (a3) Am Maracaiho Am Pot&Ch bl Am Seal Kpagoe_ Am Superpower ._ Am Superpwrpf_§ Am Superp 1st 6 _ Am Thred pf 25e. 261 441 1% 47 6 18y Appalch E P pf 1. Ark Nat Gas i Ark Nat Gas (A). | ATk P& Tt (7). DOMESTIC BONDS. Ala Power 1l ') 3y Ala Power As 46 A a0 Ala Pow 51 e 97 Als Row i Nt Alum_Co 1061, Am G & E Am P & L Am Radia Am Rol Appalach ATk-La Atk P AS G & Ax T & T Bum E1 1 Rirming Gas H0le Can Pac s 114 (PRI Ca 56 « G d bs Al & Xity Cent Pw & Lt As Cent St El 3¢ "in Ceni S K1 870¢ Cen St P & L5 Ghi D1 Rl 4758 €i Sve A Cittes § Gas 5'gs Cities 8 PAL 3' Gites S PAL Comw Edi Comd Ed Comw Ed Gom Ph Comw Sb Gon GEL&P Coni G & E as Crucible Stl 33 Del Bl Pw Detroit C G, Det Int Bg s “32 East G & F 1s : El Pw & L 5 S0u 3 M 1040510412 AR A T s 104 Tty Tost, 108y die [HESoR IR [ETAPREIEN ak3 Grocery Str 6 & Hall (WF) #s Hvgrade Fd fis North Ul 5 1 o 313 | 10814 10614 10120 10134 No Tnd P § 3 Pac G & E #is Pac_Invest 3s { Ashiand Oll 140c_ Asko Gas & Elec_. | AssoG & E (A) _ | Asso G & E 35 pr_ Atl Cst Fish b3se. | Atlas Corp war | Atlas Plvwd 113 Austin Silver Auto Products _ | Auto VM (t30¢)- | Axton-Fisher A _. 140x | Babcox & Wil 4__ 1008 Bald L bd tts(d)- 100 | Baldwin Rub 50c. Bardstown Dist _ | Barium Stain Stl_ | Bath fron Wks eech Aircraft | Bell Aircraft ___ el Pa pf 675 | Bliss (BEW) _____ | Blue Ridge ev 3 __ Blumenthal (S)__ @ | Rotany Cons (d) . ¥ Rower Roll B(2)_ Bowmn-Blt 1st Brazil TL&P biog Rreeze Inc(aTic). | Brewster Aero *| Bridspt Mch b2io Brill Corp (B)___ Brown Co pf Brown F (b%0c Rrown Forman Runk Hill & Sull | Burma 1.td b16'sc | cantegWire A ‘Cables & Wire B Can Hydro Ist pf. 20 Can Marcon! P 60c | Carib Synd(bioe) { Carman & Co R Koppers pf (6)-. Lake Shore (14)_. Lakey Foundry Lefcourt Realiy Leh Coal&N 30c. Leonard Ofl.____. 1.fon Oil Ref (1) Lit Brothers J.ocke St C 80 - Lockheed Afr Lone Star G 80¢ | Long Island Lig . | Long 1 L pt B(6). Louisana 1.4 40c_ | Livneh Corp (12)2 McWillms D t2_ Majestic R&T __. Mangel Stores __ % Mass ULil Asso_ Massey Harris | Memp N G (b10c) | MerrCh&sept A 255 | Mesabi Iron _ | Mich Bumper 2! | Mich Gas & Of1_. { Mich Sugar____ | Mid Sta Pet (A) | Miard St Prod 2. | Midvale Co (b2) _, | Midwest Of1(11)_. | Mining Co (Can)_ , ‘_\(hrk.hldton 60c. t | Molybdenum i | Moora Distillery_ Mount C (aZlc) __ Mount Prod (60c). at Auto (b1) Nat Bellas Hes Nat City L b Nat Cont (bilc) . at Fuel Gas (1). Nat Mfg & Strs _ Nat P&L pf (6) Nat Rub M a20¢ Nat Ser Nat Trans biic _ & Nat Union Radio_ Nehi Corp * estle Le-Mur INE Pw Apf6._ New Hav Cl 113 Newmont M b1y New Pro E | Niag Hud Power. Niag HP 1stpf § Niagara S B blae Niles-Bem-P (b1) | Nipissing(b25c) North Am L & P. No Am Ray A bl _, | NoAm Ray Bbi_ N A Ray prpf(3) Northern P L Tic NIPS6pfbey Nort States P A _ Nor Tex Kl pfid) | Nor'wst kn bise | Ohio Pwr pf (6) Okla Nat Gas OKlA NGevpl6. exs | Oldetyme Dist Carter (JW) 80c_ | Catlin (ag0c) Celluloid Corp fcallulofd pf Cen Hud G&E 80¢ Cent Oh Stlh3e_ Cent &S W Utll_. Cent States Bl __ Chi Riv&M bh30c . | Chief Con Mining Childs Co pf Cities Service_ | Cities Servpf _ | Cities Sve pf BR | Cit Sv P&L 87 pf_ | City Auto (160c)_ Claide Neon Lts._ Cleve Tractor Club Alumi | Colon Dev Ttd___ & | Colon Develap 8% pf (30c) Colo Fuel&l war. Colt's PFA Col G&F evpf Colum O&G a2fe . Comwlth & S wr Comnuty P&L 18t Consol Copper | C GEL&P Ro 3 60 | Con G RopfA(s). Cons Gas Util | Cons Retail Stra Cons Ret S pf(§)_ | Consol Steel Contl G&F propf 7 Contl Roll&S Fy Cook P&\Var t60c Copperweld $1.20 Cord Corp | Corroon & Revn . Cosden Petrol | Cosden Pe iy S liig 16 1045 1043 1043 Tnit Lt & Pw As TUnit TAR M 6 Ya Pub 8 5l,s West T U1 as Wis-Min L&P 55 4 P& L s 68 A Chile M B s ‘31 mat Isarco Hyd El s 32 Medelin Col Bantiag Chil 9 1 ww__With warran-s. xw Without war- »ants nNew. < (sip)—Stamped | £Negotiability impaired by maturity SHORT-TERM SECURITIES. (Reporied by Chas. D. Barney & Co.\ Tel & Tel 3las A n A1t Co 4%.s 193 Baldwin Loco Works 5s 1940 Galif Packing Corp as 1440 Caro. Clinch & Ohlo As 1015 :Chesa & Ohio Rwy As 191 Edison Fgec Dium 4s 1030 General Bub Berv 51,5 jaitu Grand Rap & Ind 4'3s 1031 ousion Oil Alzs 1940 nier Merc Marine nter TE & Tel 4! Laclede Gas Light 35 | -Lehizh Valley Coal s 193K #high Val Term Ry 5s 1441 Long Tsland Gen 4s 1938 Lonis & Nash' RR 48 1040 Michigan Cent RR 4s 1930 Midland RR of N J A< 1940 Milw & North RR 4708 14 NY CaStLs 0 10 103 106, 10413 1041, 10312 107 Tel Co 425 193¢ of Mo 4s 1038 Penn-Dixie Cement Bs 1631 Penna RR Co 4s 1943 Rio Grande Western 4s 1930 Term RR Assn St L 43¢ 1939 | Vanadium Corp 5s 1041 Vertientes Sugar Co is 1047 ’ 04 10813 108 1610 1010, Weetern N Y & Pa 43 1943 Wertern Bnion Tel 58 1848 NEW YORK PRODUCE. NEW YORK. July 14 13,159. barelv steady. (42 rcore), 37a32'i. other grades un- ehapged leese. 366.004° firm: miTk fiats, ‘fresh specials. prieer unchanged ive pouliry. by freight. steady to firm broilers. Rocks. colored, 19 V.hl';m unauoted Fowls.' colored.” 20a2 roosters, 14: (@ —Buiter, Creamers. extra State. whole | 198197 other | urkeys, 5 3: irregular, iuma. 2082015 dirties. No. average ‘checks. 1R';al8%, Dprices unchanged. CARLOADINGS. NEW YORK. July 15 (P —Revenus emight car loadings on rallroads reporting for the week ended July 10 Included July ~ Prev. Year Mixed color: 1. 191,107, other ‘mixed chi. & Northwn Roek_ Isiand \ & Paul Southern Pacific Wabash FOREIGN MARKETS. LONDON. July 14 (. Industrial stocks | moved irregularly in todav's stock market with international favorites in fair demand. Trans-Atlantic shares remained steady. while German bonds had an easier rend- enev. Oils and gili-edged securities were @ull. and the mining group sold lower PARIS, July 14 (® —The Bourse and all banking institutions remained closed today, Bastille day. MONEY MARKET. NEW YORK. uly 14 (P .—Call mon steady. | per ceni all day. Prime com- | Gen Inv Corppr . { Grt A&PT 1stpt7 Courtl'ds b2 Creole Pet T(30c) Crocker-Wh aloe. Croft Brewing __ Crown Cent afic _ Crown Ck Tnt A 1 Cuneo Press (2) w » | Cusi Mex Mining. | Darby Pet (50c)_. Davton Rubber Dejayv Stores 180¢ Derby Oil & Ref _ Det Gax pf 1.20 _. Det Gray Iron 4e. Det Pap Pr 125¢ Diveo T Trk (40c Domin Steel __ Draper (12.40) Duke Power (h2). Duro Test (40c)_. | Duval Tex a50e _ | Fagle Pit 1. b10e | Eastn G&F Asso. (n G&F A pf3. <YWM R b2ie ler Elec (a Fl Bond & Share_ Flec B&S pf(5) _ El Pw As A blse_ P&I opt war _ hareholding _ ctrog’phic +1... sctrol Inc vt e Emp G&F 6% pf_ Equity Crp a2se_. Evans Wall Ld___ Fix-Cell-O (bd0c). Fairchild A alie Fedders Mf h2ic Ferro Enam b7sc. Fidelio Brewery Fisk Rubber “isk Rub pf (§)__ Ford (Can)A (1) __ Ford Ltd b21.3¢ Frank Ray afc _ Froedert (20¢) . % Gen Alloys n Firepr b 25 o 00 B [ ¥ T T CT =N CORT oS SO RIS SO * -9 ES [ Gen Tele (b2ic) . Gen Tire & Rub Gen T&R pt A(F) 20a Georgia Pw pf 6. 258 Gilb't ACa62'z¢. 1 Glen AldC (11) . 3 Godchaux S A b2_ 508 Goldfield Consol_. 1 Gorh'm vtebise . 2 Grand Natl Fims. 2 Gray Tel PS (1) 2 Grt A&P T nv 16 208 2h 2508 15 8314 121 4014 15% 56% 13 18 16% 11% 25% 33 R2% 2214 8 Grt Nor Pap 1 Greenfield T&D Gulf Oil (b25¢) _ Harvard Brew __ Hecla Min b4sc Hewitt Rub b50c. Hollinger G 163¢c_ Holophane h25e _ Horn & Hard 12 __ 25 Humble O1(1%)_ 1 Hussman Lig t1_. Hydro EI S b20c . Hygrade Food P—. Il Jowa P pf 214 111 lowa Pd ct Illinols Zine b25¢ 1008 Imp Oil Ltd 1500 4 Ind'nTT1O(B)._. 5 Ind Pipe Lb30e _ 1 Indus Kin 7% pf_ 50s Insof N Am t2 _ 430 4 11 roercial paper, 1 per cent Time loans steady: 60-00 davs. 1'4: 4-8 months, 17, | er ean! Bankers acceprances unchanged. | iscount rate, New York Reserve Bank. | Y Der cent. ir IntlHESA war. 1 Intl Hy EI 8§ pt_ ‘4 Intl Pete (T1%).. 2 ’ Overseas Sec 60c_ Pac GE&E 1st 14 Pan-Am Air (11). Pantepec Oil Parker Pen (2) | Parkbg R&R hanc Pennroad (a%ic)_ Pa P&L pf (T) Pharis T&R Phoen Sec b2 Phoenix Pines Winterf't Pion Gold (s0c) - | Pitney Bow t40c_ | Pitts Forging ___ Pitts & LE b4 _ | Pitts P1Gl(b215) Pleas Val W bl0c { Plough Ine 1.20__ Potrero Sugar _ | PwrofCanb Producers Corp _ Prosperity Bal Pub Sve Ind pf _. 1408 | Pub S Ind prpt__ 508 Puzet Sound P&L $5 pt b6 1; Pug Sd P&1 36 pf. | Quaker Oats (5 | Ry& 1Lt Secal 55 | Rainbow l.um A _ Raymd Con (t1)_ tad Bank | Reiter Fo Reliance El h3fc _ inavnomnmuz Richmd Radiator. Root Pet (b25 o | Russeks k | Rustless | & Sti . Ryan Consol | Ryerson&Haynes St Regis Paper __ covill Mfg (h1)_ gal Lock & H eiberling Rbher. lected Indus ol In prpf(534). ersky Air hattuck Den Sher-Will (14) Simmons H & P Simplicity Pat Solar Mfg (bl0c)_ | Sonotone (a10c) ., | Soss Mfg (50c) So Pa Oil (f113) |SoCalEdpfB1% | SoCal Eaprei s S0 Colo Pw pf 4 outh Union Gas._ Span & Gen rets | Spen Chain bsnc Stand C'S pf 1.60_ Stand Oil Ky 1 _ Stand Oil Ohfo +1 | Stand O Ohio pf 5 Stand Pwr & Lt__ Stand S & L (4c)_ Stand Stl Sp a2y 104 Stand Tube (B) _ | Starrett Corp vte. ein A&Co 11 erchi Broasoec_ erl Alum hific erling Br bifc. erling Inc i20c. Siroock & Co(2) . Sunray Oil h15e Superior Port C B Swiss Am El pt_. Taggart Corp ‘Tastyeast Del A Taylor Dist 30c__ Technicolor a50c. Tech Hughes t40¢ Tenn K P st pf 7. Texon Oil&L 60c Tilo Roof Inc (1) Tob Prod Exp 15¢ Todd Shipyd t2__ 70 Toledo Bid pf 6 __ 95 Tonopah M abc 1 Trans-Lux t20c... 4l Tubize Chatil _ 23 Tubize Ch A b214 70 Tung-Sol Lamp_ L3 Tung S L pt 80c__ 1t Utd Air war ____ 2003 Un G Can b27%e_ 1513 Unit Gas Corp 9% UnitGaspfb3%. 2114 Unit Gas war Unit Lt &P (A) Unit L& P pf A Utd Shipyards A Utd Shipyds B Utd Shoe M 1214 _ Unit Spac (b30¢) _ U 8 Foil B (1)_. U S & Intl Sec_. US Lines pf_ Unt Ver Ex (b1)_ Unit Wall Pblse_ Univ Cons Oil al_ Aniv Pictures Utilities P&L(d). Utll P&L pf (4) | Utllities Indus Util & [ndus of _ Utility Equitie Valspar vte Venezuela Mex_ | Venezuela Pet o I ) 7 o 2 =3 PPN V=1V PN i N AN SN AR Waco Aireraft Walker Minmg Waishanum t40e | Wall't'n Of1 De 108 51 5 13 24 (L9 47 6% 34 86 13u 131y 8 108 51 5 2 Ry 1% 16 1 241 1 4 6 12 14rc | . | Riggs National Bank com.—2 at 326, NEW YORK, July 14—James H Rand, jr., chairman of the board and president. of Remington Rand, Inc., sald yesterday he has “firm convic- tion that business in the United Blates is going steadily ahead, per- haps more rapidly than most people expect.” Addressing the annual meeting of stockholders in the office equipment | company, Rand held “a majority of working people in the United States are firm believers in democratic gov- ernment and are opposed to central- ization of authority along lines wit- nessed in Europe.” Majority Rule Believed Favored. The great bulk of workers.” he | | said, “place the welfare of the coun- try ahead of their own aggrandize- ment and favor majority rule over minority rule. “As long as this is true there will be no usurpation of power by John L Lewis and the C. I. O. or any other minority group. There's going to be | no serious interruption of business | improvement and employment in this country.” He added 90 per cent of strikes are called by a radical minority and can- not succeed. “They may succeed for a time” he declared, “if they are helped by poli- | | ticians, but they cannot succeed per- manently. The American working | man will not be dominated by rack- eteers.” He said the labor situation in his |own company has been “cleared up and the plants are running smoothly.” Large Sales Disclosed. Rand disclosed sales for June of his own company were the laigest | | for the month since 1929, totaling ! $4,070.000, against $3.212.000 for the same month last year. For the three | months ended with June, he reported, | | preliminary figures showed sales of $12,619.000, against $10,022.000 in the comparable period last vear, He described as erroneous reports the plants in Syracuse, N. Y, and | | Middleton, Conn.. were being closed for lack of business. explaining it was | customary to curtail for the | Summer. | . | 'C. 1. 0. NAMES BRIDGES | PACIFIC COAST DIRECTOR | Longshoreman Picked as Execu- tive to Co-ordinate Organi- zation’s Activities, ! By the Associateq Press John Brophy, C | director, announced Appointment executive | last night the of Harry Bridges, San Francisco longshoreman. as Pacific Coast director “to co-ordinate our activities out there " Bridges, who led the 77-day West Coast maritime strike in 1934, suceeeds Richard Francis of Seattle. Francis is to continue organization work for C. 1. O. in the Pacific Northwest Brophy explained that Bridzes | would be responsible to C. tional headquarters. I. O, Washingto;\ Exchange AFTER CALL. Potomac Electric Power §'. 10 at 1121, Washington Gas 5s. 1958—-§1,000 {1057 $1.000 at 1053, Mergenthaler Linotype—19 at 43, at 43. Lanston Monotype pfd 1 at 85, 1 Bid and Asked Prices. ) BONDS. PUBLIC UTILITY & Tel & Por | Ana_ & Pot. Guar C. & P. Tel of Va | Cap. Traction R. R | Gty & Suburban 5¢ Georgetown Gas 1 Poi. Elec. Pow, 2t4s Wash. Gas s 1958 Wash! Gas 5s 1960 Wash. RY. & Flec. 45 MISCELLANFOUS. Chevy Chase Club Ist 4%y W. M. Oold Storage 5s STOCKS. PUBLIC UTILITY Amer & Tel. (9) C1R0, | Capital Transit Co 10 | 8 & W steambont (s | Por” Elec Pow. 6%, pfd. (A | Po. E1. Po. 5% pf. (& A0 Wash. Gas Li.com. (361 er Wash: Rv. & El com. (161 Wash. Rv. & El pfd. (31 1 BANK AND TRUST COMPANY Amer. Sec & ‘Tr. Co. (e8) Bank of Bethesda (h.7 Cavital (4) Gom & Savings (10) Liberty () Lincolp ({6 25) Natl_Sav. & Trust Pr.Georges BK. & Tr. (30) Riggs (eR) Riggs Dfd. (51 | Washington () Wash. Loan & Tr. (e5) > FIRE INSURANCE. American (61 Corcoran (51 | Firemen's (1 20) National Unfon ¢.60) TITLE INSURANCE ! 408 1 i 1 108 SCUMNEE 104 100 Tel 208 "y b ¢ | Columbia (.20) Real Estate () A MISCPLLANEOUS. Carpel Corp. (2.00 Lansion Monotype ( Mergenthaler Lino Peoples Dr. St. com | Peoples Dr’ &1 pfd. (6.5, | Real Est” M &G. pfd Security’ Storage (5) Ter Ref & Wh. Corp Wdwd. & Loth. com Wdwd. & Loth. pfd dividend b—Books closed. er—Ex rights, +Plus extras. 31 +1.5m () i 45¢ paid De- cember AUTOMOBILE FINANCING SHOWS BIG INCREASE | Census Bureau statistics show re- tail automobile financing during May totaled $190,655.000, an increase of 5.1 per cent over April. 3.3 per cent over May a year ago and 67.8 per cent over May, 1935. For the first five months of this year, the financing totaled $756,010,000, compared with $701.309.000 in the same period a year ago and $461,320,- 000 in the 1935 months. o os— g‘tgf:e:gdmu Add 00. High. Low. Close. ‘Westn A E(a25c) 2 % 9 9 ‘Will 0il-O-Ma50c 2 8% 8% 8y Wolverine b40c_ 2 14% 14 14 ‘Wright Hars t400 2 6% 6% 6% Yukon Gold (b6e) 2 2% 2% 2% ividend rates In dollars based on last Rty or Seral-annual payment. . tAR- | nual rate—not ‘including_extras. IAc- cumulated dividends. a Paid last year. bPaid this vear. d Companes reported as being in bankruptey or in receivership. or being_reorzanized under the bankruptcy sct. or securities assumed by such com- pariies. A | Paper Products Corp. | Trusteed Am Rk | Am | Nor River tained at & . In both years, th [hwd| holds any further analogies with 1926, it is declinewhichtookthe heart outof all but the | most courageous. In both years, business was sus- %\igh level while the market was skid- peak of the market came on Feb--{/20 ruary 1. The sell-off in 1926 carried prices much lower than did the relapse of '37 and the fall of the earlier year || |5 was much more precipitate. Recovery in 1926 got under way in May and with minor interruptions carried to the end of the y ber new highs for the year were made. Whether the second half of ‘37 ] Special Dispateh s Phe Siar, | NEW YORK, July 14—Textiia ;Wmm‘s index of textile mill activity | for the first five months of 1937 was 24 per cent above that for the ror- | responding period of last vear and 34 per cent over “normal” (1934-31 aver~ age). The outlook is for a slower pro- | duction rate during the last half of the year, Further adjustment of prices is noted in Textile World's price index num= bers for June. The recession in et~ tons was unchecked, while wool prod- 1cts held better than ran wool. Based on 1923-1925 average as 100, price in- dices June with change for the previous month are as fol r. InDecem- for HAL] | not for the statistician to say. | yws 108 Apr. — A = - S T - May June July Aug. Sept. L T Nov. Oct. Dec. o C 47 v gray (down 200ds un- wonl (down 4); tops, 82 (down 2): varns, 88 (down |11 wool 112 tunchanged); raw Raw cofton, (down 5); colored Wool-—Raw «down 21: goods, 71 78 . changed: 2 lule cloth PAPER STOCK SHARES PLACED ON MARKET Special Dispatch to T NEW YORK, July 14 e Star he Detroit is offering. by means of & prospectus, the unsold por- tion of 24.240 shares of $25 par value 6 per cent cumulative convertible pre- ferred stock through Russeil Maguire & Co., Inc.; M. J. Hall & Co, Inc and Weed. Hall, Berndt & Co., as principal underwriters, at per share. Common stockholders of record June 25, 1937, have been given the prior right to subscribe to the pre- ferred shares at $25 per share for a period of 11 days following the ef- | fective date of the registration state- ment at the rate of not less than one share of preferred for each 8.4 shares of common stock, INVESTING CO YORK. July 14 Dealers " Association MPANIES New York Am 1. O na-{S NY NY e North Am Bond 3 Shar of Am Tr C per of Am Tr B Trusterd Industry Shrs Wellington Fund INSURANCE STOCKS W YORK July 14 P — New York ity Dealers’ ‘Assaciation Bid Asked Aetna Cas (s o Aetna Ins (1 60 : Aetna Tife | Koa) Am Equit 1 Koa) Reins 40g Reserve Sure Am 7. An | Automobile | Balt Amer Carolina | Citv of N Conn Gen L Contin Cas (1 Fid & Dep 14} s Nwk | rank Fire «la) en Reinsur (2 Glenn Falls (1760 Globe & Rep (X! lobe & Rut reat Ame; Hanover | A tford Fire 12) Home Fire Sec Home Ins (la) Homestead (1) Knickerbocker Lincoin Fire Maryland Cas Mass Bond Natl' Fire Natl Liberty (20a) N Hampshire «1.60a) N Y Fire (.80a) . ) Phoenix (s _7_ Prov Wash (1) 5 Revere (P) In (1.30) Rossia Tns (.80a) St Paul Fire (6) ringfleld (7l.e) L. Sun Life (%) __ Travelers U S Fire ) Westchester (1.30a 1 A—Al%0 exira or extras g—Declared or paid 5o far this vear. NEW YORK BANK STOCKS NEW YORK. Juls 14 (@ — Over-th, counter market. bank and frusi companies openiag bid and asked prices Bk of Manhattan (1'2) Chase (1.40) City (1) Commercial (R) First National (100} Public (1'2) Bankers (21 BKlyn Trust (4) Central Hanover (4) Chemical (1.80) Continental (.R0) Corn Exchange (3) Empire (1) Guaranty (12) Irving (.60 Lawyers Trust Manufactury N 'Y Trust Title Guaranty & Trust FOREIGN EXCHANGES. NEW YORK, July 14 (@ —Foreign ex change steady (Great Britain others in cents): Great Britain. dema; 4.9611: cables. 4.9611; #0-day bills, 4.95 Prance, demand. 3 R8!a: cable Italv. demand, 5.2Ais; cable. Demands—Belgium, 16 8 free, 40.22: registered. 2.3 Holland, “35.10: N 25.62; 'Denma itzérland, Portugal, 4 1R s0) Asked 341, 40) Spain. unguated: . 9113 Poland. i Crechosiovakia, 3.49: Yugoslavia 2.43:° Austria, 1R.80n: Hungary. 19 S Rumania, 75 Argentina. 33.12n' Brazil. £R0Usn: ' Tokio, 7806 Shanghai, 20.60. Hongkong. ~ 2033 Mexico City. 37 85 Montreal in New York. 99.81%4; New York in Monireal. 100.18%. n—Nominal. Greece, a RAIL EQUPMENT S FACING TEST 900,000 Weekly Carload- ings Are Anticipated Du- | ring Movement of Crops. he Associated Pres: NEW YORK, July 14 —Adequacy of railroad equipment for handling Fall traffic will be subjected to 1's severest test in the movement of the erops, | rail eircles pointed out today. By | Spokesmen for the Association n.'} American Raliroads expressed belief | ere would be no “acute” freight car snortage, despite anticipated loadings | in excess of 900,000 ears weekly dur- ing the peak season But caicul: creased hat on ¢ X ns of a of Spring wheat prospects, suggest a rk loadings to a about 100,000 cars of the ali-time records figures of 1929, Determining Factors. l | largelv in- based rent y recove evel withir A theory a some quarters the emselves in the they ca e following fa decline in eight equipment pPINE of worn-out ess of replacement buving the last 10 vears one of inactive decades in equip- % in railroad his nalf & million freight cars dismant r the junk the enjoved tne 1 In the jast ar and a half carriers have sought ) equipmen’ reserves throuzn During the warat de- 1 vears and even through the stork was am- business offered, but lately rall men hate admitted, there ome symptoms of a pinch tain types of equip- at d of roads m n 1y inusua | more b o of hav handle | the last owned units ness than rests The steady | decade of business | recovery ple some pe the | shippers | For example. it was reported witk the last dav or | ment of tne | been n the move- erop had hortage of taken watermel rrupted by a e Fetle Unprepared After War. ce the perind mmediately he war have the railroads Money for Construction Loans and Loans on Existing Properties 5% FIRST DFED OF TRUST ONLY GEORGEL.BORGER 643 Indiana Ave. N.W. 5% INTEREST CONSTRUCTION LOANS AND STRAIGHT 3-yr. LOANS Prompt Action en Applications Real Estate Mortgage & Guaranty Corporation 1610 K St. N.W. NALL 1403 i ravon, 27 (unchanzed). experienced a serious shoriage of equipmen. They were caught unpre- " pared then by the post-war boom, which proved a lttle too mucn for $3'500'000 them with a not over-abundant su ply of rolling stock that had been badly run down by the wear and tea: of war-time operation. ! If the Fall freight movement meets or exceeds expectations of traffic men the raliroad equipment indu: may be placed in the role of det whether there will be a ca Car makers have been operating at a lively clip for the last eight months on a large backlog of orders Thev are believed current making steady deliveries against the 45000 cars ordered during tne first half of the year, but & considerable Part of this wotal is yet 1o be delivered railroad circles say. DEBENTURE OFFERING OUT TODAY D. NEW ering of ar 4 per fund depentures bonic Corp, derw low & Potter and M L, bent Epecia 110 The Star. ORK, July 14.—Public 1ssue of $3500,000 cent converty of ihe was made today through headed by Munds, Wins= Spencer Trask & Co. nch & o de- ireés are priced at 102!, aca 1o be | Orued interest of - ten- The and Dressmaking exhibits are a feavure of the Paris Exhibition. OFFICE FURNITURE WE SELL, BUY OR EXCHANGE Desks Steel Files Tables Steel Cabinets Chairs Safes BAUM'S FURNITURE HOUSE N.W. 1116 Fre Phone NA, 218¢ Investments First mortgoge notes, 6% S Washington and $500 up. Interest 6% per annum. Bradley, Beall & Howard, Inc. Southern Bldg. Phone Nat. 0271 well secured on con- by Maryland. Denominations of Established Neariy 48 Years ON IMPROVED D. C. PROPERTY, Immedicte ottention on your appli- cation for buying, rebuilding er refinancing. Loans repayable monthly. No charge for oppraisal if loan is not made. Interest charged only on unpaid belance of principal. E QUITABLE C()-OPERAT[VE BL’ILDING ASSOCI TION 915 F STREET N.W, Organized 1879 HOME LOAN TO PURCHASE, BUILD OR REFINANCE Interest as Low as 4 2% Easy Monthly Payments as low as $7.50 per $1,000. No commissions or renewals. Taxes may he paid monthiv. Investigate our economical loan plan. 0 COLUMBIA BUILDING ASSOCIATIO 716 11th Street Opposite Palais Royal This adwertisemant w under One Wall Street ne sirewmatances o be construed as an ofering of theas secwrition for sate, or as sn offor 10 buy, or a8 a nokertamen of am offer 10 bus, any of such mrewrytias. Yoo offering i made oniy br tha Prospectss. amy shares by aay waderwrwer in any mate i which anch wwderwrmier is mot qualified to act The Prompectus does nnt conatitwia an offering o 8 dealer or broker. Detroit Paper Products Corporation (A Michigan Corporatien) 24,200 Shares €% Cumulative Convertible Preferred Stock (Par Value $25.00 per share) $25.00 per share Copies of the Prospectus May Be Obtained From the Endersigned. RUSSELL MAGUIRE & CO. SNCORPORATED New York, N. Y,