Evening Star Newspaper, July 17, 1937, Page 11

FINANCIAL. THE EVENING BOND DEALS QUIET, NEW YORK BOND MARKET FEDERALS STEADY " - 73% 3% 734 - o713 3 3 103% 103% 103% Railroad Liens Are Uneven. Sainers Include Copper 1023 102% 102% and Water Works. All time shown helnw s on which the Exrhanes Approximate Transactions Today. U S Gov't Ronds..., 110,000 Foraign Bonds 4R0,000 Domestio Bonds..." 1,750,000 TREASURY. High. Low 986 9RSE 99.29 99.2R 09,29 100.31 100.28 100.30 104,18 104.15 104.15 1033 103.2 103.2 105.9 1059 1059 106.11 106.11 108.11 106.24 106.24 106.24 une 105.18 105,18 105.18 reg. 1167 1167 1167 FEDERAL FARM MORTGAGE. 9 103.10 103.10 103.10 HOME OWNERS' LOAN, 100.12 100.9+ 100,12 100.24 100.22 100.22 102,15 102.13 102.15 FOREIGN BONDS. Hizh. Low. Close. 98hy QRT, QR 291y 90l 9914 928 9213 9214 10118 10114 1011% 1004 1004 1004 10074 100°a 10074 1018 10148 10144 101% 101% 101% 1051, 1051, 9 12 105 10514 1084 102 102 102 RO 80N , 101 100m 10414 1044 105% 95 126 110 1138 106% 104% 1171 1174 10214 10214 104% 104% 92 92 10214 1024% 454 4514 234 234% 62y 63 a7 1041% 801y 9918 Fia EC Ry 63°T4 Gen('able 5% s'47 Gen Mot Aco Gen Stl Cast 51849 Goodrich 41856 Goodrich 6545 Goodvear TAR bs '57. 1054 Grt Nr Ry 3%s°'67 95 Great NRy 4s 46 G_. 126 Grt NRy 4s'46 H____ 110 Grt NRrf43s'61 A 113% Grt NR gen 43,876 D 105' Grt NRRn 4%8"17E 104% Grt NRE%s'62B 117l Gulf States Util 4868 10214 Gulf Sta Utll 4348°46. 104% Hoe (R) 1st mtg'44_. 92 Houston O11 5% s °40_. 10214 Hudson Coal 63 '62 454 Hud & Man fnc b ‘5T, 231, Hud & Manref 68 '57T. 63 111 Cent 4% 568 Inland St1 3% s'61 Int R T 18t rfbn Interlake Lron 4’47 Int Gre Nr ba ‘56 Int Grt Nr 6s'62 A Int Pap 1st 6’47 A Int Pap ref 6855 __. Int T&T cv 4% s 39 Int T&T 4352 Int T&T b8 ‘66 Iowa C 1st&ref 4s'51_. Kans C So 18t 35 '50__ Laclede Gas 58°3) Close. 98.6 1941 1944246 Bond A\ crages 10 Rals. Tndust, U Fen -1 Une. Unc. 9261028 97.0 9271028 97.0 Month ago- 9291027 976 Vear ago___ 93.3103.5102.6 1937 high__. 99.0 104.4 102.8 1937 low 90.9102.2 9538 1936 hign_.. 98.2104.4103.1 1936 Jow 86.9101.8 993 1932 low 458 400 646 t 1928 high__101.1 98910291005 10 Low-Yield Bonds. Close 1108 Prev. day.110.7 Month ago 1109 Year ago_ 111.7 1937 high. 113.7 1937 low__ 108.4 1936 high. 1135 1936 low__110.2 1028 high. 104.4 1932 low.. 86.8 Net change Today. close Previous day {AbItibl Pa& Pw 68 °'63. | Akershus 5s'63 Argentine 4s ‘72 | Arzentine 413871 Argentine 53562 | Argentine s 59 Oct . | Argentine 6s ‘60 Sept Australia 415 '56.. | Australia 5s°57_. ¥ ssoclated Press.) | . (Complied by the Assocl; | IROcas ey | 3 5 5 5 Lacleda Giam6m 42 A 48 | Lake S&M So 31;8°97 mz Leh C&N 4738 ‘54 A__ 95 Leh C&N 432854 C_ T.eh Val Conl bR "44 ___ Leh Val Coal 5874 Leh VNY 414840 g1d 9915 Leh V P con4s2003 B4% Leh V Pcon 41;82003 57 Leh Val Term bs'41_. 10574 Ligg & Myers 58 '51__ 121% | Tong Isl gen 4528 10214 Long Is] ret 4s'49___. 10314 8R4 10615 1083 McKess&Rob 514850 1041, Met Ed 1st rf 435868 107% Mil Kl R&S L rf 5871 102 | Minn & St Lrf 4m49_ MStP&SSM cn 4s'38_ | Mo K & T 15t 4890 Mo K& T 4s 62 B_. | Mo Pac5s'77 F Mo Pac 58’80 H ctfs | Mo Pacific 5s' 81 1 Mo Pacis’811ctfs__ Mo Pac 535 49 A Mob & Ohio 4128 Mob & Ohio 55'38 _ Mohawk & M 45'91 __ Moneng Pub S 4345'60 1041, Mont Pwr 33,866 { Mont Tram Morris&Essex 414865 8514 Nassau Elec 48’51 14 411y { Natl Dairy 33, 3'51ww 10315 1] Steel 48 65 1057y R P&L 47 1’50 1061 New Orl P'S 58 ‘52 NY Central 31, .\\'4»n(1a)2’1n‘ 7 Y Central 3% 8°46_. Y Cent 48’4 Y Cent con 48 Y Cent rf(‘,s’fil: F1 the Associatea Press NEW YORK, July 17.-Government | g, 5 ebligations were steady, while domestic | Brazil 61,8 corporate issues followed mixed trends | Rrazil 612 in & quiet bond market today. Changes | Brazil 7s'52 Ln_‘;h:”:e:::ar:l list were confined m{g\r.:’;‘;“f:l:i-sz Ruesnos R4 Rallroad liens were uneven. St.|pea's1s-45% 877 Py Paul 5s improved A minor fraction.| Buenos A 41:8'76 Aug while Tllinois Central 4%;s slid a little lower. B. & O. 4’25 pushed up fra tionally and St. Louls & San Fran-|C: eisco tilted down. & Gainers included Anaconda Copper 4.5, American Water Works 6s, Beth- Jenem Steel 3%s and stamped Alle- ghany 5s of 1950 i Slightly lower were McKesson k‘(‘ omh,,. Roobins 5'3s, Youngstown 3!,s and Colombia s £hell Union Ofl 3 | Copenhagen 415 '53_ The foreign list, while generally ‘f;f‘f':":\h:n 5852 qiiet, had an easy tone. Small losses | [2T90Pa ¢ vere recorded for Abitibi Paper 5 Power 35 Cuba 3 German s, | Czeciioslovakln §8 Tapan 8t.s and Peru 6s. Brazil 6',8 | Czecioslovakia 8s'5 added & small fraction, ipm,,mm 44862 | Denmark q | French Gov Ger C Rk A | Ger C Bk A | Ger Gen Ger Prv & City Rank eon Ag 6,858 7542 stod bals “anada T 108% 1041 104% 1073 1073, s 102 L 1083 Chile 65 63 1041, 104 104 100% 101 1057 42 52 1001, 10114 1051 42 53 36 Figures W hat They Mean BY A, A PATTON, NEW YORK, July 17.—American | ~rton hes been running & losing com- | petitive race in the export market dur- ll\fl'z lx‘awm r'\\' 7s'47B. Japan 5 | Japan i ! Jugos Mtz Bk 7s Minas Gers & Min 1:(‘l"‘!fi'~( 59_ |\ym\ evideo 6859 Nord Ry 612550 fA\fll"Wa\“! Norway 4l g the past year. Shipments of raw cotton from the United States in the first 11 months | of the erop year, from August to June. tnraled 3.316.000 bales, & recent report {¢ the Bureau of Foreign and Domes- Vie Commerce stated. This repre- -ented a decline of 9 per cent in quan- | 1ty and 2 per cent in valie. | Movement of the staple from other | principal growing countries of the | world, on the other hand, increased stantially during the same period. Data compiled by the New York Cot- | tan Exchange, for instance. indicates | ! 6128 °3 ~ir biggest competitor, India, boosted ‘R:”;‘n"::;’:‘;.’ ; 68 rxports 19 per cent, from 3,087,000 | (PHTARE R 0 bales to 3,662,000, | Sao Paulo St o2 o8 Brazil's foreign trade in the staple | gag Pauln St s 40 showed the sharpest gain of anv im- | San Panie St 8550 martant producer, up 66 per cent over | Serbs 8362 1036, Twelve per cent more m"‘“"‘\:,h\h‘qm[?;i"v'-s lef+ Egyptian ports this vear than last. | 5''esia Provis’s = At the same time Russia is re- Tokln‘u'.,. e a8l ported to be an entrant in the export | 1000 LR o o o competition, shipping several Inuhmll,mmmy il Great Britain and at least one to this | o radhicin | Westphal EP 6 Althoigh our most important con- | sumer, Japan, took 4 per cent more cotton from this country than a year | agn, there was a definite switch to other growths, principally Indian. The Wtter wrested first place from the tUnited States as Japan's largest source of raw fiber with a 30 per cent gain ver 1936 Great Bri our second largest|Am T & T 68 43 eustomer, also switched from the |Am Wat Wks 637 American staple (o competing foreign A\":Cfl?n\*l";‘i'l ‘: . growths. Shipments of domestic fiber | 207 % Pl VA8 Il declined 17 per cent in the 11-month | xrmot'Dol) a8 %57 period. although it continued the | A T&S Fead) 4s " Jargest supplier of Lancashire require- | A T&S Fe gen 48 3| Indian cotton shipments to|A T&S Fe C A 475862 m the pestod: Egyptian, 14 per cent. | A7) GOASt [ I8¢ A8/0% Coming with textile mills of the AtICLun41;m 64 world operating at the highest sus- | Atlantic & D 1st4s'48 iaied level since the war, the switch | p g 0 4148'60 from domestic to foreign raw mate- | B & O ist bs ‘48 rial by our big customers is said in } B&Orefbs 95 A frade circles to reflect the relatively |B&Oret5s2000 D._. high price of American cotton g:ggfi{*fl";g“ 3 Spinners are, in other words, bu¥- | b & O Swn 5e 50 Ing as 1aTge A POrtion of requUIrements | pocon e gt 3158 as possible in India, Egypt and Brazil, | Rell T of Pa 53 '48 B filling in with our Southern staple. ‘Rell'}'ul of Pa 5560 C The Spanish civil war caused a|BethSteel3%sx'66 Arop of 99 per cent in shipments of | Beth Stee) ¢34 s 60 qomestic cotton to that nation. me‘m‘]):m c;m’“‘ 7 205.000 bales in the 1935-36 season, \Bmmxanrufl- ‘66 the total this year fell to only 270 | Bkiyn Un El bs '50 bales. | BXlyn Un G 53 57 B Other important consumers taking | Buft R&P con 414857 lesx of the staple this year included: | Bush Term con 5s’53 France, down 2 per cent; Germany |Camag 73 42 cues 18 per cent; Poland. 33 per cent, and ;,::g;:: :T“ "’SZ: Belgium, 2 per rent. Can'dian P db 48 perp Increases were: Canada, 20 Der|Gent Pac 1st rf ¢s-45 eent; Netherlands, 34 per cent;:|Cent Pac 58 ‘60 Sweden, 6 per cent, and Italy,»3 per | Champ P&F 43 x50 cent. © Ches& 0 33%s3'96 D__. Japan and the United Kingdom é*;:f;r?““z'a 96 B accounted for exactly half our cot- | (D Con ton exports: 20 per cent for the for- | Gny & 111 £s mer and 21 for the latter. France, |Chi& E I116s'5 Germany, Italy and Canada—in that | Chi Grt West 4s '59__ order—took 37 per cent of the total. Chi 1&1 gen 5566 ___ e R CM&StP4s'8 ARMOUR & CO. ISSUE WILL TOTAL $75,000, 000 CM&StP5s'T CM&SIP& P adj552000 Chi & NW 4158 2037 Chi & NW 4148 2037 C Chi & NW 4% s 43 _ Chi & NW rf 6s 2037_. Br the Associnted Press. | Chi Ry 1st 5527 NEW YORK, July 17.—Kuhn, Loeb | Chi R 1&P rf 45 34 & Co., investrent bankers, announced | Chi R I&P rf 4s'34ctf. they will head the financing of a pro- | Chi R I&P 4145 posed_issue of $75,000.000 of bonds of | cpni ih SiA d ke, Armour & Co. of Illinois. Stockhold- | Chi Un Sta 4 ‘63 ... ers recently authorized the issue at & [ Chi& W In con 48’62 special meeting. The company may |Chi & W Ind 4345762 register the bonds in the near future. | Childs &Coss'43 . It was stated the issue will take | S Q& Pous 60 the form of convertible debentures. Prooceeds will be uesd to call the 7 per cent preferred issue of Armour & Co. of Delaware, & subsidiary, of which there 45 $57.079,900 outstanding to repay -bank loans of between $18.000.- 000 and $20,000,000 contracted re- cently to pay off the 41, per cent real Clev Un Ter 41577 Clev Un Ter 53 '73 B estats bonds of the parent company) NY ("‘n! rfhs NYC&St L 413278 \\ Conn 1st 41, 8'53 . dison 31,865 D ND NY G EIHAP 5a'48 . 122 NY L& Wist4s'13 . NYLEWnj3les‘q2. NY O& W gen 43" NY O& W ref 48 92 INY WaB 4y, | Niag L& O Norf So 1st 58 - Norf So 1st ref 55 '61. Norf & W 1st 4326 North Am Fd 6857 A Nor'n Pac gen 38 2047 | Nor'n Pac 45 97 Nor'n Pac 4145 2047 _ Nort'n Pac fs 2047 C_ R 582047 D_ Nor'n Pac 65 2047 | Ohlo Edison 48 Oreg W RR 4s 61 | Pac Gas PacG & E |Pac G & E 45 64 7 Pac T&T r£ 37,5 '66 B 10112 Paramount Pic fs " Park-Lx 613853 ctfs Parmelee 6s '44 Penn Co 43 '83 Fenn Dixie C 65 N PennP&L4:a 81 101% Q;“‘r‘enn RR 41,881 D__ 108!, Qi‘n Penn T’KU.. 84____ 108 | Penn RR 3% s w1 ___ 107 renn RR :a.-'ruc__ L% | Penn RR con 443 __ 110 Penn RR cn 4s 48 stp 11313 Penn RR gn 4%8°'65 1117, Penn RR deb 435s '70 103 Pere Marq 4%s '80 941, | Pere Marq 15t 55°56 101 Thelps Dodge 315552 115% Phila B&W 4128'77__ 114% Phila Co 58 '67 9B1y | Phila Elec 314567 " 1033 1111 | Phila & R CAT 6873 2418 11z ¢|Phila& R C&163'49 . 11w 105s | Philippine Ry 4s°3770 241, 1031, | PCC&SLL 5&"T0 A___ 1167 9s1 | PCC&St L5515 B aoi. | Porto Rico A T 6 0 ¢ | Postal Tel & C 63 '8 2" | Purity Baking 58’48 10" | Reading R 415897 B_ Reading Jer C Reading R 4 Rem-Rand 41, & 56ww 10614 Republic Stl 415856 98t Republic Stl4%s61_ 96%y Republic St1 518 '54_ 1201 StL-SF48'50 Actfs' 241, StL-SFran41;8'18 . 243 St1-SF4%s'78 ctat. 23 StL-S Fran5s'50 B 26 San A & A Pass4s'43 101% San Diego CG&E4%'65 109 Seabd AL 63°45 A 164 Seabd A-F168'36 Act /% Shell Un deb 3143 '51. 9914 Socony Vac 3550 _ 106 South Bell T&T 58°41 991 Southn Cal G 454861 106 | S0 Colo Pwr 68 47 A_ 10513 |SoPac3¥s 46 So Pac col 48'49_. So Pacref 48°55_ So Pac 433868 _ So Pac 4% 69._. So Pac 418 '81 So Pac (Cal) s 3T So Pac Oreg 4148°71 So Ry gen 48°66 A___ | SoRy 612856 99 S W Bell Tel 3% 3 '64_ 10613 Stand Ofl N J 38 '61__ 977a Texarkana 5138 °50 __. 105% Texas & Pac 53'19C_ 10315 Third A ad inex 5a'66 16 Tide Wat Oil 3%8'52_ 100% Unlon Pac 18t 4. Un Pac Ist rf 4s United Drug 68 '53 Utd N J RR 4844 65'3| Utah P & L 68 '44 |Utan L & T 68 44 Util P& L 63 69 ww. Ut P& L 6% 47. Walker H&S 4% s Walworth 4s ‘55 813, Walworth 6s ‘55 new_ 98 Warner Broscv 63’39 93% Warren Brev 6s'41 _ 50t W Sh lst 45 2061 gud. 914 Westn Pac 6846 A___ 3% West'n Pac 6546 Aas 311y West'n Un 415350, 9 Westn Un bs ‘51 West'n Un 58 '60 Wilson & Co 48 55___ 102 Y'ngstn S&T 33861 144% T'ngstn S&T 102 CONTINENTAL BAKING NET. NEW YORK, July 17 (#).—Con- tinental Baking Corp. and subsidiaries, operating nationally, for the 26 weeks ended June 26, reported net profit of $1,472484 after charges but before undistributed profits surtax, equal to $3.67 a share on 8 per cent cumula- tive preferred stock, on which there is an accumulation of unpaid dividends. This compares with net profits of $1.367.455, or $3.41 on 8 per cent pre- ferred in the like 4938 period. P | Pernambuc Peru 63’80 Poland 6540 Porto Alesre T1:s '66. | Queensland Ts"41 __ Riode Jan 61,853 _ Sae & 261 5 1”"\ 1098 i 101% LGN 1045 a7 105 ATA 1011 1001, - 110y - 1041 10078 1001, 1104 1041, 107 1104 1041 10718 9914 102% 107% 1011, 100 44 64 1031, DOMEETIC BONDS. i Adams Bxp 4ian 46 _ 1011, Alleg Corp bs 60 stp. 631, 108 Alleg & Westn 4808 108 1064, 29, 110 11319 1113 103 9415 101 2030 | Am 1.G Ch 5348 49 AmT & T 3% n, 107 95 1200 24" 2415 22% 25% 10 10514 100 Ay 1068, 8R1p Rily 863 101 7'z 1174 a3 11084 a7, 10814 97ty 977 106 % 744 99% 10615 7% 105% 10315 16 100% 114 1074 967 | 1| 10215 | 100 5614 564 105% 1053 R1% /1% 97, 98 934 93m 591 59t 9 91 EILE ST 311 31 90t 91 105% 103 15% 1004 114 10734 9674 111 102 105% Clev Un Ter 615 8'72A Colo F & 1 5543 Colo & So 4 %4 Columbia G&F 58'61_ Comcl Credit 3% 8°51 Cons EAN Y 334856 Consol Ol1 3% 851 Consum Pwr 3% s’66 Consum P un 3348’65 Container deb 5s'43_. Container 6= ‘46 Crown Will P 6s Cuba Northn blss "42 Dayton P&L 3%s 60 Den G & F 5851 st Den & R G con 458" Den & RGW b8’ Den & RG ref 53'78_ Det Edison 43 65 F'__ Dul SS& At 58'37 FElee Auto Lite 4562 102 102 143 1438 967y 101% 102 10414 . 108% 10015 103%, 10114 10419 105 48% 10415 104Y% 1082 10014 103 101% 10415 105 48% 10414 1071y 271y 141 20t 3 1091 424 1094 109 CHICAGO PRODUCE CHICAGO, Julv |7 4P (Unied 8tates De- of “Agriculture).—Potatoes. ar- 329: iotal U. 8. ship mente; .mnmu White Rose firm. o'hers steady with better feeling nravail- ni; gupplies liberal demand falrly gond: 7 cked: California Wh, e, L3 neke cotm!m. Porily deg. 1od-no. \lr:lmn Cobblers. U. 8 ng heated. fair conditinn. HL AR R LIT | B I ls-.h mmm ? | counter 912 | opening 1015, | STAR, WASHINGTON, FARMERS SPEED LOAN PAYMENTS Nearly $100,000,000 Re- turned to U. S. Agencies in Year, Gov. Myers States. Farmers have hung up & new record in repayment of mortgage loans from the Farm Credit Administration, Gov. W. 1. Myers said today. In spite of extension and deferment privileges, farmers voluntarily repaid nearly $100,000,000 of principal on Federal land bank and commisasioner loans in the 12 montha ending June 1, this year. Myers also said that in half the States over 90 per cent of ‘loans are in good standing with respect. to interest payments. Over 830,000 farmers have land bank and commis- sloner loans, representing more than one.third of the total farm mortgage debt. Farmers repaid during the period $61.400,000 on the prineipal of their first mortgage Federal land bank loans although in most cases not required by law to do so; and $34,300,000 of principal on commissioner’s first and second mortgages which had only about $4,800,000 of principal maturi- ties during the period. The commis- sioner’s loans were made to assist in refinancing hundreds of thousands of distressed borrowers, and do not re- quire principal payments in the first three years of the loan. Gov. Myers said more than half | of the amount paid in was for install- ment payments on principal and the remaining amount for payment of | loans in full. He added that in his opinion installment payments were made largely from income, represent- ing a direct reflex from the past year's satisfactory prices for most farm com- modities. “These very encouraging advance | payments show that farmers are de- termined to pay their debts, not only the interest but principal also, as soon a8 possible,” the farm eredit governor stated. “As a rule, when farmers have money they pay their debts. The de- pression hasn't changed that. When they do not have funds they can't pay. They can’'t do better than that. “Except in States where farmers | have ben held back by drought, | interest collections on Federal land bank Joans now compare fairly favor- ably vnh the years before the depres- | sion,” the farm credit governor | stated. NEW YORK BANK STOCKS | NEw JORK. July 17 o market bank and trust compan; bid and asked prices pases (Noon quotations.) BANKS. BK of Manhattan (1%a) | Chase (V40) [ City (1) Commercial (&1 | First National (100} Public (1tan) 2 & TRUST COMPANTES. Bankers (2, Bklyn Trust (4, Central Hanover (4) Chemical (1 80 Continental ( R0) Corn Exchange (3) Empire (1) _ AGulrunrv e Trving (80 | Lawres Trust (2.40) Migrs ) N st (5 Ficle Glaranty & -rnm CHICAGO STOCK MARKET CHICAGO. i o ine comiess offclal st ar 17 3tocks on the Chicaso Stock Salex KS. 20 Advance Alum 30 Armour & Co | { | | | —Pollowing ansactions in Exchange t0- in | Invest utom Wun cv of endix Av Binks Mg 170 Brach & Sons Ao Bioen Er‘n’-w At 100 Butler “Brox 30 Cen 111 1l Bup ¢ ove ot ; t Consumers Oo pf El Househald EmpG & Fia of s 130 Gen Hausehold 100 Gt_Lakes Dredee 100 Ind Bteel Prod. 150 Iron Fireman 100 Jarvis (W B 150 Joslyn Mfg & 8 30 Lynch Corp 50 Marsh Field 100 McCord Rad A 250 Merch & Mfrs A 420 Merch & Mfrs B d 80 Midiana SR 10 Midl_Util 7% pl 50 Nat-8tand West U 7% pf 100 Nor'west Bancarp 10 Perfect 100 Pines” Winter 400 Potter Co _ 0 South Cold Pow A - 50 Sunatrand M Tool 150 Trane Co Stock sales today. 0.000 shares, Bond sales {odes. none. "M none, DIVIDENDS ANNOUNCED NE! July 17 —Di - clared. Frepared by e mandends de- tistics Corp. Liautdsting, - Btoek of Pay- Rate e Tecord able = &3 reb. 1r$e lm-velsel 8ims Pet Defer; Canadian convemn Vrlnkhn Tire lnmr Y Fire Insur Jarvis W B Co Res: Pnnknn Rajlway | by 9 . #-30 Ae ted. | Albern Bros “aill 7 Hasana £l & Ut 8% cim Moody's Investors S 3 ondy's Tnvestors Syc *,‘ Walker & Co A Columbia Piet $57 ot L1 Dow Chem Co 7-20 7-30 2-14 7-31 L2 22 716 -4 3 000 O Tl Homestead Fir Insur ~A0c Louisville & N.lavx lle RR 0 Moody's Investors $3 Bl Be o) Tosa® 3 Texps “Pwr 3N TeRREY © 0 & DOOOO DOZOLO a + De Mets Ine pf_ A Stein X Decrease. Chicaro Yellow Clh_ Sh Q Siveser Stel Custing . MacAndrews & Forbes Co.—Com- mon share earnings, six months ended —Over-the- | } | range today, encountering trade buying and week | Janvary June 30, were $1.33, againat $1.13. A D. C, SATURDAY CURB 1S UNSTEADY WITHOUT TRENDS Fractional Gains and Losses General—Some Indus- trials Higher. By the Associated Press. NEW YORK, July 17.—Curb stocks Iacked definite trend today. Frac- tional gains and losses wers the rule. Among industrials, Mead Johnson and United Wall Paper were higher. Industrials selling lower included Great Atlantic & Pacific, Sherwin Williams and 8inger Manufacturing. Utilities chalked up both plus and minus signs. Fractionally higher were American Gas & Electric and Electric Bond & Bhare. Lower were Niagara Hudson and United Light & Power, Gulf Ofl was up slightly. Lake Shore Mines dipped. CURB BONDS DOMESTIC IQNDS igh. Lo Als Power 43 ‘a7 Als Power 5x "; Birm Bl 4758 * Birming Qus be' " Can Pac 6; Cent 8t El blas * Cin 8tr_Ry 65 b Citles 8vc Bs Cities b3 Cities BYys 42 Cities 8 Gs P 6s Cit 8 P&L 525 Cit 8 P&L 528 Det, Olt Gy S¢ East P Gatineau Pw B "B Gatineau Pw fis Gatineau P Hs Gen Pb U Algs Gen Ryn s Georeia Pw 51 "4 Jlen Alden Ol Grend Trlwp vy rw T Pw Indiana Sflr‘h! 3" Sen a0 s B vhe Scripps Blen 4 Snerid, wro 6s 8 K PAL Sou GaiUra® ave Sou Cal E 45 '#i Stand Inv_ Bias 398 Siand Pear’ af il 8uper of TII 4728 "6 Texas Elec_ b 45 0 2 105% s 10013 105 7 105 b " Yadkin Riv P 5a 41 FOREIGN. Cauca VAl Tx 4% g Cuban Te Tlas 41 Danish Con 'As 53 Guant & W q Maranhao Br 3 | Parana Braz Terni-Boc Alax ww—With warrants Without warrants, n-—New sty siampen §Neeotiability impaired by maturtv tOompanies reported in reteivershin. NEW YORK COTTON NEW YORK, July 17 (/.—Cotton fluctuated irregularly over & narrow with further liquidation ARy ARly end covering. December, which had rallied from 11.94 to 12.02, sold off to 11.95 at the close, with final prices net unchanged to 2 points lower. Cotton, futures elosed steads, unchansed w0 2 lows tgh, Low, Getaber 07 ember g March 2 May 1212 Spot_steady. middling, 1° n—Nominal CHICAGO GRAIN By the Associated Preas. CHICAGO, July 17.—Although wheat prices today were fractionally higher than yesterday's close most of the time, they did not reach the Fri- day peaks, which in the case of Sep- tember and December contracts were the highest in eight years. ‘Transient fluctuations at only frac- tions below these tope, however. re- flected the uncertalnty among many traders as to orop conditions. An ac- curate picture was hard to draw largely because of reportsa of spread of rust in 8pring wheat both sides of the Canadian border. The probable extent of damage to be expected from rust depends mostly on the weather. Reports indicated the drought has been broken in Western Canada, but this week's rains apparently came too Iate to save wheat in much of South- ern Saskatchewan. On the other hand. rainfall apparently has ma- terially helped the erop in Manitobs, Alberta and Northern Saskatchewan in asections where deterioration has not gone too far. But even in these areas possibility of rust damage isx an uncertain factor. One estimate indi cated the Canadian harvest of 175. 000,000 bushels is possible compared with 212,000,000 last year. A 3-cent upturn at Liverpool, more than reflecting yesterday's advance 11 11 11 12 13 here, stimulated enough buying to lift ! the Chicago market about a cent at the opening. Profit-taking and hedge selling caused minor reactions to be- low yesterday's close at times. Corn lost around a eent, reflecting good crop eonditions in much of the belt. Oats also was lower, while rye and provisions were steady to firm. Around midsession wheat was un- changed to % higher, July, 1.28%: September, 138%, and corn was 3-112 lower, September, 1.12%; De- cember, 804 MONTREAL SILVER. MONTREAL, July 17 (P .—Silver futures closed steady, 10 higher. No sales; July, 44.85b; September, 44.60b: December, 44.55b. b—Bid. i JULY 17, 1937 NEW YORK CURB MARKET By private wire direct fo the Star. _AD time shewn belew fs dasiight ssving o8 which the Exchange s new epeesting. Soskana = Salse— Dividend Rate. Add 00. Migh. Low. Close. Acme W vte (2).. 28a 4T 47K 4T% Aero Supply B 1 4 4 4 Alnsworth b25e) - 1 13% 13% 13% Alabam Pwpf(1) 20s 73 73 173 Alum Am pf (8)_. 50s 1154 116% 118% Aluminum Ltd so- 17 117 117 2615 26% 19% 3% a3 3y 841 1014 264 1% 1% 1% 3215 %21 821 104'/: 10414 1044 Ta Tha K L 1 11% 6 6 2% 2 24% 1% Am Box B'd héke. Am Centritugal __ AmCP&L A (3)_ Am Cynm B t60c. Am GEE (1.40)__. Am Gen (ab0c) Am Laund M 8$0e. Am Maracaibo.. Am Superpower . Am Superpwr pf_ Appalch B Ppf 7. Ark NatGas__ ___ Ark Nat G »(A). 0c). & Ashland Oll t40c. & 104 264 1 1% 1 10 2% 2 2444 178 108 10% 24 244 128y 128y 144 148 10:a 104 LT LY g | 1141 1144 2 Austin Silver ___ Auto VM (150¢). Axton-Fisher A__ Babcox & W1l 4 __ Baldwin Rub K0e. Bath Iron Wks _ Bellanca Afreraft Bell Afrcraft ___ Bell Tel Pa pf 814 Berkey & Gay. Rliss (BW) ____ Blumenthal (8) Brazil TL&P b30o Brewster Aero Rrit Cslan rets Brown F&W A 2 Burma Ltd b16%c CanTnd Aleo A Carib Synd(bs0e) i Carnegie Metals.. ! Carrier Corp._. 59% Catlin (a40c) _ o | Cen Hud G&E 800 150 | b0s 129 2 14% 1 104 1 64 7 1% 2 14% 3 | Molybdenum _ | Cent States El mt | ChamMetWs 180¢ 14| | Chi Riv&M b30c_. 17% | | Cittes Service ___ 3 City Auto (160c)_ 9% Club Aluminum__ 1 | Colon Develop | | 6% pt (30c) 4l Colt’'s PFA bisc . Colum O&G a20c_ | Comwlth & 8 wr_ Consol Copper___ C GEL&P Bo 3.60 | Cook P& \Var t60c. Cord Corp . Cosden Petrol - | Croft Brewing Cro'n Drug b 'VU' - | Cust Mex Mining | Dennison 7% pf_. Derby Oil & Ref. Det Gas pf 1.20 Draper (12.40) _ Driver Har pf (7) Dubelier Conds - Duro Test (40c)_, Fstn GA&F A pf3_ FasyWM B h%e Eisler Elec (aje). Fl Bond & Share_ EIB&SpL(6) __ ElPw As A blic_ Eureka P L. (4) Fairchild A alde. | Falstaff Br 11, Fanny Farm C1._. Fidelio Brewery_. ¢ Ford(Can)A(1)_. R Ford Ltd b21.3c__ # Froedert (20c) _. B Gen Alloys - Gen Firepr b2ic . § Gen Invest = Gen Tire & Rub _ Gen T&R pf A(6) Glen Ald € (+1) Grand Natl Fims Gray Tel PS (1)_ Grt A&P T nv 16_ Greenfleld T&D. Guit Oil (b25¢) | Han Lamp 80e | Hartman Tob | Harvard Brew_ | Hat Corp B sue | Hud Bay M bi5e Humble 011115 ). Hum Ross F .20g. Hygrade Food P_. 11l Jowa Pd ctfs_. Imp Oil Ltd t30e_ | Ind Pipe L b3oe _ | Insof N Am 12 Intl Hy E1S pf __ Intl Pete (1133)_. Intl Products Inil Radio b Inters Home Kq . Jtal Sup'pw d ris_ Jacohs(FI)i1) Jones & Laugh St Kingston Pr4fc_. Kirby Petral 206 Knott Corp b20c_, Lake Shore (14)._. Lakey Foundry Lana Bryant pf 7. Leh Coal&N 30e .. Tion Oil Ref (1) Lockheed Air | Lone Star G 806 __ | Long Island Lig_. Lynch Corp (12). McWillms D 11 | Majestic R&T | Marion Stm Sh __ | Mead John'n (13) Mesabi [ron Mich Gas & Ofl Mich Sugar__ Mid Sta P vte Mid W Abrallc.. 4 o) FoaST e SN ELN 9‘¢ | > @ 10 20 e e e S o e 08 S ) e PN e e e R e 0 9 N Mount C (a%le) . Mount Prod(80¢) Mount St T&T § _. Nachman hé? LLY 108 lu 144 1 174 174 174 REAL ESTATE LOANS RESIDENCE and 590 SMALL BUSINESS PROPERTIES. FRED T. NESBIT 1010 YERMONT AYR. DISTRIOT sees OFFICE FURNITURE WE SELL, BUY OR EXCHANGE Desks Steel Files Tables Steel Cabinets Chairs Safes BAUM’S FURNITURE HOUSE 1416 Eve 81. N.W. Phene NA. 9184 I Mnay for Canlruhol !.nu al Loans on Existing Preperties FIRST DEED OF TRUST ONLY GEORGE1.BORGER 643 IIN‘IAIII Au. N.W. MORTGAGE LOANS ON RESIDENTIAL PROPERTY Up to $20,000 Refinancing and Construction attractive interest rates ROBERT PEDDICORD 1713 K St. N.W. DISTRICT 0010 Office Hours, 9-12 1 | Bher-Will (14) | Todd Shipya 12__ | Utd Shoe M 12145 _ | Util P&L pt (d)- DEBENTURES TO BE CALLED. | | onvertible on or before that FINANCIAL « A1l NEWSPRINT PRODUCTION IN CANADA AT CLIMAX MONTREAL, July 17 (#).—Newz« print production in Canada for the first six months of the current year reached an all-time high, with an increase of 19.7 per cent over the core responding pericd Iast year, a state ment, issued by Newsprint Association of Canada shows. Production for the first hai’ of the year amounted to 1,783,350 tons, com= pared with 1,490,016 tons a year ago. Shipments, also recording new high figures for six months, were up slightly over last year. Total shipments from Canada amounted to 1,740,721 tonz, compared with 1445483, a gain of 20.4 per cent over the corresponding period in 1936. 8hipments to the United States stond at 1382813 tons, against 1114277 last year, gain of 24.2 per cent, while to overseas markets the gain was 71 per cent with volume at 257,526 tons, compared with 240,473 tons —_— 5% INTEREST CONSTRUCTION LOANS AND STRAIGHT 3-yr. LOANS Prompt Action on Applications Real Estate Mortgage & Guaranty Corporation 1610 K St. N. NAtL 1403 Stock and o~ Dtvidend Rate. Add 00. lllh.lm Olose. Nat Bellas Hess_. 24 2 Nat Cont (b50e) .. 1% 1% 22% 12% & 1% 4T 4R 714 108 RRiy 88l Hl\‘a 1104% 11014 1 Ly 14% av 29% Ry ARy 9414 A My Niag HP(B)war_ NoAmRay Abi_ NoAmRayBbi_ NIPSG&pfh2y_ NIPST7pth2s_ Ohio Ofl cu pf(8). Okla Nat Gas _. Oldetyme Dist_ PaoG&E1st 1% _ Pantepec O] . . Patchague Ply a7. Pa P&L pf (1) _._ Pharis T&R 60e .. Phoen Sac b2hc Pitney Bow t400. Premier G t12¢ Producers Corp _ Prud't'linvpf6_. PubS8velndpf_ .. Pub 8 ind prpt__ Pug 84 P&! $6 pt. Rainbow Lum A _. Rainbow Lum B _, Red Bank _ - Reevea(Dan)i0e. Root Pet (b25e)_. Rustless 1 & St1_. Ryan Consol _ St Regis Paper. Samson United Bavoy Oil ___ Segal Lock & H__ Seiby 8hoe b0, Selected Indus’ __ Sent 8af Control - ersky Alr. 2000 = 00 00 00 s 5 10 10; 508 138 TR 18- 12 4% 300 29914 300 ABY 458 455 T 27% 3y 3 % 138 Simmons H & P__ Simplicity Par __ Singer Mg (16)_. S0 Pa 0il (11%4)_. SoCal EdpfB1i4 South Union Gas. Stand Oil Ky t1__ Stand O] Ohlo 1. Stand S & L (4c) Btand Stl Spa2ig. Sterchi Bro a3oc... Sterling Inc 120¢. unray Oil blge Sunray Ocupt2y Superior Port C B Swiss Am El pf__ Taggart Corp __. Tastyeast Del A _. Tech Hughes 140¢ Technicolor a50e. Tob Prod Exp 156 Ay 20 36% « 334 1018 51y FIRST TRUST LOANS LONG TERM 3% per montt includes 194 114 1014 1By &« ) tarecta e Pay No renawal, ALSO iraight on loars, ment on principal lnan Trans-Lux t20c__ Transwest Oil Co Unit Gas Corp . __ Unit Lt& P (A)_. Unit L& PpfA . in 20 years 3 ear ] U S & Int] Sec Unt Ver Ex (b1)_ Unit Wall Phlie. Utah Radio Prod . Utilities P&L(d). conttruct BOSS & PHELPS MORTGAGE CO. Loan Corresp John Hanock Valioaivie 1117 K St NW. Valspar pf vie Wagner Rak pf 7 Weil't'n Oil Del _ Wentworth bise_ W VaCoal&C.__ Wolverine bafe Wright Hare 1400 Dividend ratea In doliars based on ll!( puartly or semi-annual payment Al Tale—not including axiras. #As: cumulated dividends A Paid last fy b Paid this year. d Companies report: being in bankruptey or in recelvership. 4 reorganized under the blnlrumrl or securities assumed by such c-m-. Danies. - 100k 10s First Trust Notes Conservat loans on small properties yielding 5'2 and 6 per cent. NOW AVAILABLE NEW YORK, July 17 (#)—The re- i maining $5,200.000 of the $30.000, 000 | 312 per cent debentures of Youngn<' town Sheet & Tube Co., issued on February 1, 1936, will be called for redemption on August 25 at a pre- mium of 4 per cent. The bonds are date | into eommon stock on the basis of 16 shares for each $1,000 debenture. $6.000 near Dupant Circla—12 Fooms. 2 baths—rental. 8100 per manth. famits fa. at on- Southern Railway Co.—Net income, | 5 monthsa ended May 31, was $1.930.- | | 201, equal to 52 cents & common share, umnn deficit of $176.591. Property Management Automobile Insurance Insurance You'll find we take personal inter- est in Fire and Automobile Insur- ance we place for you in the strong companies we represent. Automobile Insurance B. F. SAUL CO. 925 15th St. N.W. REAL ESTATE aeing MrPherson Square National 2100 Consider These Facts When You Wish To Arrange A REAL ESTATE LOAN . LOANS on Improved or to be improved real estate— as low as $7.50 per thousand per month PERPETUAL Building Association is the largest in Washington, and one of theleadersintheentire United States. PERPETUAL has over 35,000 bor- rowing and savings members. PERPETUAL'S Board of Directors keep in close eontact with the officers and materially assist in facluding interest and the speedy handling of loans. ecurtail . . . No commis- sions No renewal fees. Lot us help you solve your problem with a Perpetual loan. PERPETUAL'S reqular examinations by the U. S. Treasury Dept. are sup- plemented by special C.P.A. audits as well as its own Anditing etaff. PERPETUAL has always had a rep- utation for sound, fair appraisals. Over 200 borrowers per month were .dvncpd loans last yeasz, totaling over $12,000.000 for the year. PERPETUAL BUILDING ASSOCIATION 11th & ESTREETS, N.W. ESTABLISHED 1881 Largest In Washington=Assets Over $43,000,000 ARTHUR G. BISHOP MARVIN A, CUSTIS EDWARD C. BALTZ Chatrman of The Board President Secretary