Evening Star Newspaper, July 23, 1937, Page 13

D. C, FRIDAY; JULY 23, 1937 TIDE WATER NET §1,6%.701 PROFIT FINANCIAL. THE EVENING STAR, WASHINGT! BONDS ON N. Y. STOCK EXCHANGE wire direct %o The Star. Low. High. Low. Closs, -A.I’I T::‘::on belew s ::mnl saving | Can'dian Pao 68 '54__: 106'/- 106% 106% u:« 3 on which the Exehane is aow operating. | Contof Gabe's9C... 17 17 17 w0 Cent I1 BE&G 68°61.. 102 101% 102 40% Approximate 'rnuutlou Today. Cent N England 4s'61. 69 69 69 U 8 Gov't Bonds.... 1,380,000 Cent Pao Ist rf 4°49. 109% 109% 109% Foreign Bond: 1,270,000 98 Cent Pac 98 198 Domestic Bon 5,310,000 Life Insurance Volume Advances Well Above 1936 By the Associated. hul. NEW YORK, July 23.—New ordi- BONDS DEVELOP HESITANT TONE FREIGHT LOADINGS | XCESS RESERVES AT 770075 MARK| SAG %0 MILLIONS NYNH&H 4s'58 NYNH&H 4% NYNH&Hcv 63’48, NY O&W gen 48 NY O&W ref ¢ 123y 123% | NY S&W 1st rf Carriers and Industrials Ease—Federal Issues Quiet and Steady. Bond Averages Ralls. Tndust. UL, Figh. Net change Unc. Unc. +.1 Today, noon 929 103.0 979 173.3 Prev. day.. 929103.0 97.7 732 Month ago_. 92.1102.5 965 72.4 Year ago. 93.5103.3102.6 69.3 1937 high. 99.0104.4 1028 74.7 1937 low- 9091022 958 70.5 1936 high. 98.2104.4103.1 73.0 1936 low.- 8691018 99.3 67.6 1932 low____ 458 40.0 646 422 1928 high___101.1 98.9 102.9 100.5 10 Low-Yield Bonds. Noon _.._110.6 Prev. day. 110.6 Month ago 1104 Year ago. 111.6 1937 high_ 113.7 1937 low__ 108.4 936 high_ 113.5 1936 low. 1928 high. 104.4 1932 low (Compiled by the Associated Press.) By the Associated Press. NEW YORK, July 23.—With a few exceptions carrier and industrial liens weakened fractionally in an indecisive bond market today. Government ob- ligations were quiet and steady and foreign dollar bonds showed signs of improvement. In the rail group, Great Northern 4s held the spotlight with a 2-point gain. Bumper wheat crops in the Northwest have evidently had some effect in influencing traders in this direction. Illinois Central 43;s, Santa Fe 48, B. & O. 4!,s and Erie 5s pushed up minor fractions. Utilities wavered with Utilities Power & Light 5s, Detroit Edison 4'2s and International Hydro Electric 6s giving ground. Pacific Gas 335 moved up around . Among the industrials, Steel 335, International Paper 5s and Studebaker 6s tilted lower. Youngstown 3':s climbed nearly a point and Goodvear 5s advanced a minor fraction. ol Auto Production Slumps to 88,055 ‘" Level for Week 81 the Associated Press. DETROIT. July 23.—Ward's Re- ports, Inc., in its weekly survey of the automotive industry today estimated #his week's output at 88,055 cars and trucks, compared with 115380 last week and 99.329 for the comparable week of 1936. The reduction was attributed chiefly ’ to the shut-down of the Ford plants for inventory. Bethlehem STATEMENT IS ISSUED BY NEW YORK RESERVE By the Associated Press. NEW YORK, July 23.—A decrease of approximately $26,000,000 in mem- ber bank reserve account was re- ported in the condition statement of e Federal Reserve Bank of New » York for the week ended July 21. The item dropped to $3,000,620,000 from $3,026,785,000 in the preceding week. United States treasurer general ac- sount increased to $103,112,000 from $31,272,000. Total bills discounted decreased from $8,571,000 to $5,839,~ 000. Holdings of United States Govern- ment securities were unchanged at $725,029,000. The condensed statement follows: Bold certificates on_hand nd due from United Fsm.u Treasury. otal reserves Bills discounted Secured by U. S. Govern- ment_obligations Total bills discounted Bills bought in open market Industrial advances Total U. 8 Government se- curities Total bills and securities Uncollected iiems Federal ~Reserve motes actual “circulation posits: Memtml bank-reserve ac- 4.070.000 9,000 in T 3.000. ‘Total deposits _~~ _ 3192 Ratio of totar reserves to depo: Wederal Reserve note Nabilities combined. 44.2 per cent. S. E. C. ISSUES REPORT ON MEMBER DEALINGS By the Associated Press. ‘The Securities Commission reported transactions for their own accounts of members of the New York Stock Exchange in the week ended June 26 amounted to 10.27 per cent of all fyansactions on the exchange. Member trading included 6.11 per cent in transactions initiated on the floor of the exchange, 5.51 per cent off the floor and 8.65 per cent by spe- clalists. 620,000 THEATERS EXTRA VOTED. NEW YORK, July 23 (#).—Loew's Boston Theaters Co. declared an ex- tra dividend of $1.25 and the regular quarterly dividend of 15 cents on the common, both payable August 2 to stock of record July 27. An extra dividend of 50 cents was paid in the previous quarter., i U 8. TREASURY NOTES. uly = 23 (#).—Prices auored 1| Qoukrs and mlru-mnrnd: s st AASAINI NI ESFFETTEFESSS 2 99-19 2 10023 . SHORT-TERM SECURITIES. (Raported by Chas. D. Barmer & Co) ofter. Amer Tel & Tel Biis 1045 B, ofn Auto Co 43 8 iiwin Taco ris b IO?I o ol 1i . o Ohio 88 19.&8 ro Cline && ioglh v 55 1050 me;’ z == = —:—n 223 & & o 5 SRRt o ment, G 19417 wuurn e 1030° ‘n 930 &% Pl h 1943_ nion Tel 53 1038__ = - peSmaven 135D Am0 S FRRR R TS .==.,.,sg._.gm., SREDIR! porey TREASURY. \ High. 98.24 98.17 98.24 2%81945-47 e 103.8 103.6 3.8 101.9 1019 2%s IQBX-SL..- 100.10 100.7 100.5 100.2 101.8 1013 104.28 104.28 103.8 103.4 105.14 105.14 105.6 105.6 2148 1949-53____ 2% 81948-51_... 238 1956-59.. 2% S48 1946-49___ 3148 1949-52___. 3345 1944-46_ 3% 51940-43Tune 3% 8 1946-56 48 1944-54 - 43833484345 4%m 194752 " 106. 105. 381964 o 104, 381952 Adriatic Elec 78'52 Akershus 5s 63 Antioquia 7 Antioquia Antioguia Argentine 4 Argentine 44871 ___ Argentine 63 '69 Oct _ Argentine 6360 May. Argentine 63°61 May. Australia 4% Australia 6s°'66 Australia 5s *57 Bavaria S 614845 ... Belgium 6s °556 Berlin Elec 6s ‘55 Brazil 6% s '26-'5 Brazil 7s '52 Brazil 8s 41 Brisbane 5558 Buen A 4%4-1%s" Buenos Alres 4%5-4%5°76 April_ Buenos A 4148'76 Aug Buenos Adles-4% Bulgaria 7%5'68 Canada 35°67 _ Canada 3%s'61 Canada 4860 Canada 6852 Chile 6560 .. Chile 6861 Jan____. Chile 65 '61 Febr-_. Chile 7s°42 . Chile Mtg Bk 6561 Chile Mtg Bk 635 ‘57 Chile Mtg Bk 6% 5'61. Chinese Gv Ry 58 '51_ Colombia 68 °61 Jan __ Col Mtg Bk 7846 Copenhagen 41853 Copenhagen 68 '52 Cordoba 7s '37 stpd Cuba 415549 Cuba 5%s8°45 Czechoslovakia 85 '51 Denmarx 4% ‘62 Denmark 5% 56 Denmark 6s 42 | E1 Salvador 8s°48 ct_. Finland 65’45 Ger C Bk A 65'60 Oct.. Ger Gov 6%s 65 st Ger Prv & City Bank con Ag 618’68 Grt CEl Jap 6%8°50_ Grt CElJap 78’44 _ Ger Rep 7849 stpd. Greek Gov 6s'68 Hungary T%s'44 Italy 78°61. Japan 638 54 o Met Wat 5145 °'60 Mex Ire 43543 a: Milan 638 52 Minas Gers 6348 °58__ Montevideo 78°52 - New So Wales 58 '57._. New So Wales 6558 Nord Ry 6%s"50._. Norway 4s ‘63 Norway 4%s "’ Norway 43%s°56 Norway 6s°44 . Norw Hy El 5%s Nuremberg 68 52 Oslo 43865 0810 G & E 5563 Panama 6863 stpas. Paris Orl Ry 5%s"68_ Pernambuco 7847 Peru 6360 _ Peru 63 °61._ Peru7s'69 ___.. Poland 88 60 . Porto Alegre 7%= '66 Porto Alegre 8s°61._.. Prussia 6s 52 - Queensland 6847 .. Queensland 75 '41 Rhine Rhur 6s'63 __. Rhine W E1 P 68’53 Rio de Jan 6138 563 .. Rio de Jan 8s°46. Rio Gr do Sul 6s 68 Rio Gr do Sul 66 Rio Gr do Sul 8s Roumania 7s°59 Sao PauloC 63857 Sao Paulo St 6s'68... Sao Paulo St 7s 40_. Sao Paulo St 7856 Serbs 78'62_ Serbs 8s'62 _ Shin'su E P 6148 °52 Slemens & H 6348 '51. Sydney 6%s '55 Taiwan Elec 5%8 '11. Tokio 534861 Tokio E L Ltd 6 SI Uruguay 6 Uruguay 6 Uruguay 8s46.. Westphal E P és Wuertemberg 7856 DOMESTIC BONDS. 48°47 % 6 std Ala Grt Southn 45 '43 Alleg Corp bs "44 Alleg Corp 63 49 Alleg Corp 68 ‘60 stp.. Alleg & Westn 4i Am 1 GCh53%s 49 Am & For Pw . 104% 10414 . 113 5. Anaconda deb ¢35 ‘50 Ann A 1stex1n 4s'95 Armour(Del)1at 45'56 Armour (Del) ¢8 °67 A T&S Fe gon ¢ A T&S Fedl4s 48 A T&S Fe TSCL 4 58 Atl Coapt L 18t 486: 1 104% 1034 108y 7 Bot Con M €48 fs T Bot Con M §%s 34 ct. Bklyn Ed con 3% Bklyn Man T ¢% Bklyn Un E 68 ‘50 Bklyn Un Gas bs '45 Bkiyn Un Gai ‘50 Bklyn UnG 6s 67 B Brown Shoe 3% s ‘50 Buff R&P con 44867 Bush Ter Bldg 63 60 CanadaSobs'62 A . Can'dian NR 43856 Can'dian P db ¢s perp ‘Can'dian Pac 8 ‘Can’dian Pac ¢ ?n 'dian P 5844 ofs... - 110.10 110.10 1128 1128 106.31 106.31 106.31 116.26 116.26 116.26 FEDERAL FARM MORTGAGE. 2% 81942-47____. 101.31 101.31 101.31 331949 oo 103.2 HOME OWNERS’ LOAN. 218 1942-44____ 100.23 100.23 100.23 2%,81939-49____ 1014 101. ----- 102.30 102.23 102.30 FOREIGN BONDS. High Abitibl Pa&Pw 63 '63. . 102 Low. Close. Chi & B Ill 68 '51. Chi & E 111 68 '51 ctfs CM&StPbs'T6 CM&StP&P ad1582000 Chi & NW gen 814887 Chi & NW ¢1%s 2037 Ch1 & NW ¢4852037C 9 7 106.27 105.23 10 10! 110.10 128 | Chi R 1&P 438 ‘60 Chi UnSta3%s’63 B Chi & W In con 4s ‘53 Chi& W Ind ¢ s'62. Childs & Co 6’43 ____ CinG&E3SKn'es _. CCCA&St L gen 4393 CCC&St L rf 4% #'17B ClevEI Tl 3% 565 __ Clev Un Ter $148°77_ Clev Un Ter 6573 B_. Colo F &I 6870 Colo & So 4345 '80____ Columbia G & E 55 ‘52 May._____ Columbla G&F 53°61 Col & H Val ext 45 '48 Comel Credit 3% s *51 Conn R Pw 3%s5°61 A * [ Cons Coal Del 5860 _ ™ .Cons EAN ¥ 3% Cons Ed N Y 3%8°56 Cons Gas NY 438 °51 Consol O1] $%s°61 Consum P un 3%s°65 Consum Pwr 334870 Consum Pwr 3% s '85. Container deb 5543 _. CrownC & S 48°50 __ Crown Will P 68 ‘61 _ Cuba Northn %8 '42. Cuba RR 1st 5862 __ Dayton P&L 3% Del & Hud ref 4s ‘43 Del P& L 4%s'71__ _ Den & R G con Den& NG 4148'36 . __ Den & RG W 58°'56 _ Den & RGW 6s'56anst Den& R G raf 6s°'78 . 103.2 103.2 103.25 104. 101.4 10034 1004} 101% 1014 1014 1014y 10215 102t 10613 106t 10615 1064 241 241 2 1093 25% 431 43% Det Edison bs 52 Dow Chemical 3s 51 Duquesne Lt 318 '65 Elec Auto Lite 4.'52 Erfecv 4s'53 B Erle gen 4596 Erfe ref 5367 Erieref 875 Erfe&Pitts 3% s Fairbks Morse s Fla EC Ry b8 ‘74 Francisco Sug 63 '56 Gen (’able 614847 Gen Mot Acc 38°45 Gen Mot Acc 3% s *51. Gen Stl Cast 516849 Goodrich 434856 ___ Goodrich 6545 ._ Goodvear T&R 6n '57. Grt Nr Ry 8%8°67 Great NRy 4846 G _ 7% | Grt NRv 4346 H GtNRgn 412’76 D W|Grt NRgn4%s"17 E 561 | GTtNRen 6873 C 2 *|Grt NR5%s 52 B Gult M & N 68 50_. Hock Val 433 *39 Hoe (R) 18t mtg "44 Houston O] 6%s 40 . Hudson Coal 58 °52 Hud & Man inc 58 ‘67 Hud & Man ref 6s 57 111 Cent 1st ex 3%s'51 111 Cent col tr 45 °63__ I11 Cent ref 4855 _ 111 Cent 4% s 66 111 Cent Lou 315853 ICC&St L N O 4363 ICC&St LN O 58°63 . 111 Steel deb 41,8 40 Inland Stl 3% s 61 Int R T 1st rf 5 '66 IRT 1strf5s°66 ctfs IntRT 68’32 IntR T 6532 ct IntRT 1057% 561 1067 1031 103% 9814 99'm 102% 104 1067 1021 24% 101% Interlake Iron 48 °47. Int Grt Nr 58 ‘56 B. IntGrt Nrés'52 A Int Grt Nradj 6s'52 A 101% 65 61% (nt T&T cvethe's Int T&T 435853 Int T&T bs ‘65 Iowa C 1st&rf 48 JamesF&C4s°'39 _ Jones&L Stl 41,8614 Kanaw & M 4590 Kans C F S&M 48°36_ Kans C So 18t 35 ‘50 _ Kans City So ref 58’50 Kans C Ter 15t 48 '60 Kans G&E 4% '80___ Kelth's 6346 Laclede G 6%3°53C_. Laclece G 534560 D_ Lautaro Nit 1976s___. Leh C&N 4%8°5¢ A__ Leh V P con 48 2003 __ Leh V P con 4% 2003 Ligg & M: Loew's 33; 61% 91% 271 20t 201 221, 525, 27 3% 24 111% 109% 25% Long sl rf 4849 stp_ Lorillard 7s 44 La & Ark 68 69 Louisv G&E 348 66 Lou & Jeft Bld 48 ‘45 MeC RRgn 434860 A Manhat Ry 48°'90._._ 0% 25% 25% Market St Ry 'll 0A Mead Co 6345 Met Ed 1st rf 434868 Mich Cent 4%s8°79 Mid RR N J & Mil El R&L b Mil El R&S L rf 6871 MilSpa & N W 4s'47_ Minn & St L rf 48°49. 6414 | Minn & St L 55 '62 A« 95 | MStP&SSM en 106% | MStP&SSM 68 " td 80 | MStP&SSM 5%!'“ - 100 | Mo I11 5859 99% oK&T1 104% | MoK &T 112% |MOK & T5s'62 4 —_. 107 | Mo K & T adj & 106% | MO Pac 48°76 . _ eeeeee 70 | Mo Pac 6877 Feeeeee 1014 101% 102 102 108 108 97% 97 89Y% 89y 101% 102 108 97 894 112% 104% 104% 104% | Monong Pub 8 unuo T4 Td% 74% | Mont Pwr 3%s 66 _. 92% 924 92% | Mont Tram 6841 106% 105% 105% | MorriskRasex bs 56 0% 701 704 51 1118 111% 111% | Natl Dl B o shorter gz“ Nat Ry Mex 1st ¢3 Nat R M 4348°26 asat Nat Ry Mex 414’5728 Natl Steel ¢8 €6 .- NewOrl PSSs'S3 A_ 13 118 New Or Ter 1st 48°53 New Orl T&M C“I‘SCB 4 New Orl T&M 68 80% 9Tx 81 98 10674 10674 111% 111% 110% 110% 110% 117 116% 32y 3114 25 8 3415 101% 1057 105% 102% 102y T84 101 1045 10518 574 130% 998, 17 32% 31% 25 8 344 23% 1027 103\. 102% 102% 1271 127% 89 89 101% 102 1 L & N So Mon jt ¢8'62 8! 88 88 104% 104% 104% 94% 9y 991 99% 9% 95% 94% 994 95% 104 108% 104 105% 105% 108% 58% 58% 5815 - 108% 108% 108% 101% 101 101 90 X\Y Cent 4842 ‘ent con mm 103% th NY gom rf4%e 20“. 14 114 114 |NYCrr 4%82013n.__ 4% 94% 94% | NY Cent rf 682013 108% 105% 105% | NY C L Sh 3%48'98 . 106% 108% 106% | NY Chi & St 4. BY'A 83% 83y NYCast I-Q*l 8 .. €5 | NYCast 1043 104% 104% | NY L& 103% 102% 1034 | NYNH & 114% 114% 114% NYNH& 97% 9T% 97% 1041 108% 104% 106% 106% 1064 99 981 89% 894 90 891 99 98% Nu M 981 89% 891 99 % lfl'fi 104% 104% 85% 85! % NY Tel gen 4148 NY Tr Rk 65’46 NY W&B ¢4s Niag Falls P 3%s Niag L & O 68 '55. Niag Sh 6%s '50 North Am B4 b8 North Am Ed 6%s'63 Nor'n Pac gen 3s 2047 Nor'nPac4s'97. ___ Nort'n Pac 68 2047 C. Nor'n Pac 58 2047 D__. Nor’'n Paa 68 2047 hio Edison 3% s°72_ hio Edison 45 ‘65 Ohio Pub Svec 7847 Ont Pwr Niag 58’43 Oreg RR&N 4s°46 Pac Coast 55’46 Pac Gas & Fl 3% PacG & E2%s"61 PacG& E 4s'64. Pac T&Trf3%s'66 B Pac T&T 3%s'66 C. Para Broadway 3s ‘5§ Param’t Pic 3% s 47 Paramount Pic 5 Park-Lx 6% ‘5! otfs. Penn Co 4 . Penn Dixie C l ) J— Penn P& L 4%8'81. . Penn RR3%swi ___ Penn RR8%8°'70C Penn RR cn 4s'48 stp Penn RR ¢%s8'81 D__ Penn RR 4% 884 Penn RR con 4%8s°60. Penn RR gn 43 Penn RR deb 4% Penn RR gen b8 People GL&C rt 68'47 Peoria & - 1st 48°40 Peoria Pek U 5%s'T4. Pere Marq 4148 " Pere Marq 1st 6’56 Phelps Dodge 334852 Phila B&W 43%48'77 Phila B&W 4148'81 Phila Co 5867 Phila Elec 813867 Phila & R C&1 Phila & R C&1 Philippine Ry 3 Port Gen El 4% '60- PortGE1st5s'35-50ext Postal Tel & C5s'68... Reading Jer C 48’5 Reading R ¢1%48°97 A. Rem-Rand 4 s’ 56ww Republic St1 4148 '60. Republic St 4345 °56. Republic St 448 *61_ Republic St1 5%s '64. Revere Cop 4% 8'56 _ RG W 1stex in 4539 Saguenay Pw ¢ 5'66 St L-S F 4850 A ctf: St L-S Fran ¢%s°78 St L-S F 41878 cf st StLS W ist4s’'89. _ St L S W 1st ter 58°'53 St P Un Deprf 5s°72_ . 104% 104 0 90 0 12% 12% 12% 103% 103% 108% 106% 106% 106% 1027 102% 102% 103% 103% 103% 106 106 105 TN T4% A 105% 105% 106% 102 101% 101% 101% 101% 101% 110% 110% 110% 9874 98% 98% 104% 111% 111% 111% 112% 1124 112% 111% 111% 111% 119% 1194 119% 106% 107 9% 91% 65 65 99% 991 103 103% 107% 107% 1013% 10134 101% 101% 101% 101% 67 667 67 96 95% 96 100% 100% 100% 46% 46% 103% 103% 103% 98 98 98 102% 1024 102% 107'% 107% 107% 100 997 100 1131 1181 113% 73 100% 22% 241 21% 85 42% 120 43 101% Seabd A L 45’50 stp_. Seabd A L ref 4s'59 Seabd A L 68’45 A Seabd A L 6s 45 ctfs_ Seabd A-F168'35 A ct Shell Un deb 3148 '51. Socony Vac 3%4s°50__ South Bell T&T 58°41 Southn Cal Gas 45'65 Southn Cal G 4%8°61 So Colo Pwr 68 47 A _ South Nat G 414851 So Pac3% So Pac col So Pac ref So Pac Oreg 438 "17_. So Pac S F Ter 48 '50. So Ry gen 4856 A___ Swift & Co 3% s 50... Tenn C&C 6s'44 B___. ‘Tenn El Pw 6847 A.. Texarkana 5%s '50_.. 1 Tex: Tex & P MPT 5%s ‘64 Third Av ref 43 °60_. Third Av 1st 58°'37_ Third A ad in ex 68’66 Tide Wat Oi1 334852 Tol & Ohio C 3%s '60. Union Pac 3%8s°71 __ Union Pac 1st 4847 _ Un Pac 1st rf 4s 2008 Un Pac 1st rf s 2008 United Drug 5853 U S Rubber 6s 47 Utah L& T 63 44 A. Utah P& L 6s 44 ___ Util P& L 63°59 ww._. Ul P& Lb6%s 47 . Ver Sug 1st 78’42 ctfs V C&P 1st 4155°3¢ ast. VaE&P1strf 4s'55. VaRy1st3Xs'66 A_. Wabash 1st 6839, Wabash 2d 68'39.... Wabash 63 '80 Do Wabash 6%s ‘li Wabash 6% Walker H&S Q‘Al T Walworth 48 ‘56 Warner Bro Warner-Quin Warren Brcv 6s ‘41 Wash W P 1st 58 West Penn P33%s W Sh 1st 4s 2061 gtd. W Sh 1st 43 2061 reg.. West'n Md 1st ¢s°'63.. Westn Pac 68’46 A__. West'n Pac 5546 A West'n Un 4%48°50 Westn Un cl tr 68 '3! Westn Un 6s ‘51 West'n Un 63'60 ‘Wheel Steel 47 White Sew M 6s°40 _ W Sp Stl con 78°36 ot. Wilson & Co 48°'56 . ‘Wis C 1st gn 4849 ct. WisCS&DT4s'36_. Y'ngstn S&T 334861, T'ngstn S&T ¢s 61 110% 251y 141 _16% “16 9% 991 1064 1004 106 107 106 1004 103% 931 106% 104% 103% 103% 10845 103% 108% 106% 98% T2% 108% 108% 105% 105% 93% 93% 2% 2% 30% 30% 304 31 9 29 29 % 106% 105% 81 81 95 95% 47 47 62 62 106% 106% 106% 106% 1% 9% 86 86 102% 102% 31% 32 31% 31% 92% 923 101% 101% 9l 92 89 89 100% 101 103% 103% 38% 39 102% 102% 21 22 15% 16 148 148 102% 102% 22 16 149% 103 S NEW YORK PRODUCE. NEW YORK. July weal mu ra, 314 % Rrsts (8- (B4-R7 .Icflol,'fi.‘ mc"fi’omed'. 129.804. chpne SLopiz, Amsl acks, 23%; medluml. ors unchange: ve mul Broilers, ir) 23! 19- by 1 Creamery, Veiora ais. steady. t nrlw unchang 23 () .—Buttel higher — than {03 seore). 31%: 2834-31; ‘Centraltsed (90 freight, lilld! ;N. tead oile sleady. Brol lers, 2: towl ia G Sier o 9; fowls, su-u 1%9-2! - 48-54 mfld “Douds, chl‘é’km’l‘ brolers, 1!!/.-34 hv\g 5"17-‘,.2 Lponnds. BRind 040 48-34 2"%-25%. Other xo.u:d prices unchanged. CHICAGO LIVE STOCK. cmcmo muuami" Department of :filflln) v&o&: :‘000. ‘é“mmx m-n uu. Sy TS ower ! top. 15.00; bu b x 60-2 30 poun: ind_choice. and ey 1255 ! 30-270 pounds, 1! M ulk "n:od' Bsofmo-wund packing sows, 10.18-11. Cattl No. 8 contra .50 | di inactivity of the s g S ulls S vealers strong, Prac: b\l mhc. Ib ‘l 'umu lu D, na . 6.78: 10. f fiim -;E"b" e 1T.00:28: lfl-pmmd ““‘7"" Prices un- | & Total for Associated Oil Co. Well Above Six Months of Previous Year. By the Associatea Press. NEW YORK, July 23.—Tide Water Associated Ofl Co, reported today net income from operations for the six months ended June 30 at $7,696,701, equal after preferred stock dividend | requirements to 99 cents a share, compared with $5,279,363, or 60 cents 8 share in the comparable ‘ period last year. General Foods Corp. Net earnings of General Foods Corp. for the first half of 1937, after all charges and provisions for taxes, were $6,868,923, egual to $1.31 a share, compared with $6,843,928, or $1.30 & share for the same period 8 year 280. Earnings for the 12 months ended June 30, were $14,265,952, or $2.72 a share, against $12,711,974, or $2.42 & share for the same period ended June 30, 1936. Freeport Sulphur Co. Net income of Freeport Sulphur Co. for the six months ended June 30 was $1,279,841, equal to $1.56 a share on common stock, compared with $1,014,872, or $1.22 a share in the like period of 1936. Directors declared a dividend of 50 cents on the common stock, payable September 1 to stock of record August 13. Company had previously paid 25 cents quarterly. Ward Baking Corp. Ward Baking Corp, for the 15 weeks ended July 3, reported net income after interest, depreciation and income taxes, of $474,999, equal to $1.86 a share on 256,008 shares of 7 per cent preferred, compared with $598,421, or $2.34 a share of preferred for same period last year. Minneapolis-Honeywell. Minneapolis - Honeywell Regulator Co., makers of heat control systems, reported for the quarter ended June 30, net income, before undistributed profits surtax, of $1,034,616, equal after preferred dividend requirements to $1.62 & share on 621,000 shares of common stock outstanding. This com- pared with $79524, or 73 cents a share in the like period of 1936, Company’s plants are located at Minneapolis and Philadelphia. Lambert Co. Lambert Co., pharmaceutical manu- facturers, reported for the six months ended June 30, net profit, after taxes, of $652,061, equal to 87 cents a share of capital stock, compared with $566,- 498, equal to 76 cents a share on the same number of shares in the like period last year. Simmons Ce. Simmons Co., mattress and box spring manufacturer, reported net income for the six months ended June 30 of $2,119,181, befofe profits surtax, equal to $1.85 a share on 1,147,286 capital shares. This com- pared with $1,413,370, or $1.25 & share in the first half of 1936. Hamilton Watch. Hamilton Watch Co., Lancaster, Pa,, repotted net income for the quar- ter ended June 30 of $283,256 after charges and Federal income taxes but before surtax, equal after pre- ferred dividend requirements to 60 cents & share on 386,585 common shares, excluding treasury shares. This compared with $105,761, or 14 cents a share in the June quarter of 1936. Sloss-Sheffield. Sloss-Sheffeld Steel & Iron Co. Birmingham, Ala., reported net in- come for the six months ended June 30 of $571,987 before undistributed profits surtax, equal to $3.46 a com- mon share. A comparison with the same period last year was not avail- able. Baldwin Locomotive, Baldwin Locomotive Works and sub- sidiarles, including Midvale Co., re- ported net loss for the 12 months ended June 30 of $508,371, after all charges, Federal taxes and deduction of minority interest of the Midvale Co. This compared with a net loss of $2,- 809,720 for the same period last year. Texas Corp. T. Rieber, chairman of the board of Texas Corp., announced consolidated net earnings for the six months ended June 30, based on preliminary figures, would be approximately $27,000,000, or $248 on the shares outstanding in- cluding a recent issue of additional shares, after all charges including de- Ppreciation, depletion, interest and esti- mated taxes. No comparison with last | picy 10, year was available. Kelsey-Hayes Wheel. Kelsey-Hayes Wheel Co. . reported net income for the quarter ended June | S 30 of $387,410 after interest, deprecia- tion and normal income taxes, but be- fore Federal surtax, equal to $1.09 a share on the combined class “A” and “B” shares. This compared with $622,278, or $1.17 & share on the issues in the June, 1936, quarter. FOREIGN EXCHANGES. NEW YORK, July 23 (P).- —Foreign ex- change easy (Great Britain in dollars, oMn in t!nu) Gr!l Brl‘lln dem;n 4,973 7%; G0-day bi France, and, v i ::nl Tealy. aeznund et cables, . il 16.831%5 m. X 19.75; Rum s, .74 Brasii, R.80%n: Tokis *3h. sl 20.65; Hongkong. ., 30.53: eiy: Mont, York, re: New 9. M% )le' York in l‘nnlrnl, 100 16%. n—Nominal. U. 8. TREASURY POSITION. By the Assoclated Press. ReThe, Position of the Treasury July o1 116037 116.78; ditures, av B0 02T b baance. SEBbDSaSe flfl 'égs *?ll ms Teceipts ‘Xor the month, eibts tor.an fscal yenr (ince July 663,623, 3 %gol'i (meludlnl $131. 056 Zh“abx ex- it a2 §s'g"‘ TER T T sso e unnmu n’:‘. & la ll 172,762, A”‘g of lnuuv- Iol‘.e ainy NEW YORK SUGAB wn:&mu. X July 23 0 o early mv lt fll! ‘There was indie “on Chll re Phili fl:fl rere lvlll fl v e'nufld hllfl ar 3“ b ibeyers o fli‘u s, aulet. Interest iefly 18 No.'4 Contract. "wiere rices were higher flfl ‘commission I:n‘mn ‘encourased by ‘the " sirensth o cta were relatively nexlected, pot market and fllm over legislative t mer. 'lzb‘:veul: at 2.52 u- ed held mm&grh'r n"’hdm Warehouse wi ‘weather. . fifl‘ Bl ¢ o | B Ay don snunes, B33b: Marehs 2.330; lnv? 2:35b: :ux;" 2.37b, 22 o1 | Super nary life insurance, exclusive of group business insurance, put in force in untry during the first half of this year increased 8 per .cent over the same period last year, the Life Insusance Sales Research Bureau reported. ¥ Slightly under $4,000,000,000 of new ordinary life insurance was re- ported for this period, the bureau stated, DIVIDEND ORDERED BY RAYON CONCERN North American Corp. ‘Declares Interim Payment on Both “A” and “B” Common. 87 the Associated Press. NEW YORK, July 23.—North Amer- ican Rayon Corp. announced today an’ interim dividend of 50 cents on the class “A” and class “B” common stocks, both payable August 10 to stock of record August 2. Two interim Increase for ' Week Lifts Total ‘6.9 Per Cent Above Year Ago. NEW YORK. July 23—The Asso glated Press seasonally adjusted vuekxv (; !nlflm clrlbldln 85, based o Y declined today to R0 ith 822 the previous week mnn oL rocent years: 7. 193071998, 1934 n2 2 71.1° '65.9 30 667 #s0 she By the Associated Press. The Association of American Rail- roads reported today 770,075 cars of revenue freight were loaded during the week ending Inst Saturday. This was an increase of 87,870 cars, or 12.9 per cent, compared with the preceding week; an increase of 49,716, or 6.9 per cent, compared with & year 280, and an increase of 177,403, or 29.9 per cent, campared with two years 8g0. The report classified the loadi o as follows: This Last dividends of 50 cents have already lgfl been paid this year. Directors have stated that a total of five dividends an the common stocks will be paid during 1937, pro- viding no unforeseen eventualities arise. Washington Exchange SALES—AFTER CALL. Potomac Electric Power 6% pfd.—5 at 113. Capital Transit Co.—10 at 10%, 10 at I 10, 10 at 10. Potomac Electric Power 5%% pfd.— 1 at 11314, Bid and Asked Prices. BONDS. PUBLIC UTILITY. B, Amer. Tel. & el Anacostia & Pot . Pow. 3Vas as 55 1958 Jas b 1060 & Elec. 45 Chevy Chase Club 1st 414 Col. Country Club 1st 4 W. M. Cold Btorage 55 _ STOCKS. PUBLIC UTILITY. Amer. Tel. & Tel. (9)_ Gepital Transit Co. - Steamboat (6) Elec. Pow. 6% ot Ee '35 BANK AND TRUST COMPANY Amer. Sec. Ban Ry Sny s-vmu Liberty (4 Lincoln ua 5, Na Br. Georges BK. T (50 Rizas (e B 29533 33 Washington Lfl‘ Wash. Loan & Tr. (e FIRE INSURANCE. American 15{\ - Corcoran (5 Firemen's (1.20) National Unfon (. B eulumbln €.30) al Estate (6) MIS Carpel Corp (2.00) : Lanston Monotype (t4) Lincoln Serv. com. (+1.00 Lincoln Service Pfd (3.50 Mergenthaler Lino. (2, Peoples Dr. 8t. com. Peoples Dr_ St prd, ©'30 Real M.&G. pfd. Sedirtty Stbrace T8 Ref. & Wh. Corp._ jor oo P ! a323.08805%z 22 di X b—Books closed. 1Plus extras. . ""’51: Dlld .Y\ml 30. 1936; 45¢ paid De- cember 22 10386, ToTa50 per share to be pald out of sur- plus July 31. 19! INVESTING COMPANIES NEW YORK. July 23 —New York Security Dealers' Ascociation” (Closing Quotations ) Admin Fd 2nd Inc Am Business Shrs Am Gen Eq Inc. Am Tnis Stocks - Bancamer Hiair 1 120 6.00 5 10.00 4375 Corporate Trust _ Corporate Trust A'A A mod o3 FEEES ok ekt 228 WD BB S 53R oo 2 S32IVFARNETEIR 8323 21 orn S 1 2D S 3ZB 2N EIBNITRRSIRS333S! il 3 2233 S3IF iPUNIDID w3 & . DRSS D! » QLREBmORIIR I Eoir EiERREREE CULPPRERE R Fk EIr o oo o N T D IO IS B o A &t 3 5 20.71 NEW YORK BANK STOCKS ‘ April 23 (».—New York Becurity lers’ Association: (Quotations as of $ o'clock.) - [t a%) oun’“m Bk & Tr &) cturers Tr (: ":::l‘:“:‘lrerl 'n- Bt (2) P Titls G h 1.' & wm tock st Districts Forest Products” 43 1, BUTTER—92 score, 1-pound prints. {e-pound prints. 35: 90 score, 1ipound” prints. " 35 pund oot 367 market strong. MEATS Choice. beef, 22: 3: Fal 36: Yeal, 17 Bpring lamb, fresh pork ;resn hams. galves, : mediu il . T11a1T 0 Heavies. 910 stags 5at: calves, 7a9. Prices paid shippers net f.o.b. Wash- ' By the United States Bureau of Agricultural Economics. EGGS—Market steady to firm. U 8. eggs, )2 to 1 higher. Government graded 20 to 21; hennery whites, Current receipts. to 2. "Government graded and dated U. 8. extras, large, 30; U. mediums, 2413 Ue & stendards, large, o LIVE bul.'mv-Mnku firm at un- Ehnflled prices. Fowl Colored. h!lv)‘ [ 9; No. 2s, 13: 1 roosters, ‘U osses, 20 to 21: Rocks, Vir- Sinia. less than 5 paurnds % 237 21, Bounds and over. 41 to B 2 Dounds. 17 to 1%: less than 2 Turkeys: " Old hens, 16 1o 17 old toms, 13 to 14. Frults and Vesetables. Hales in large lots by original receivers up fo X am toda CANTALOUPES Approximately 800 crates by express North Carolina arrived: truck receipts liberal: supplies liberal: de- mand light: market wgak. North Carolina, Salmon Meats. «uan sizes: Ridge: 5 few 1.25: ). carlot arrival Supplies lignt: e California, Shite €REs extras, o broken car on pirack. d light; 4 0 YDEWS—One California arrived: three broken cars on track. Supplies mod- erate: demand moderate. market stea California, jumbo crates. 6s to fis. 1 1.50: standard crates. s and 12s. 1 150 standard cantaloupes flats, 125, 1.00. CELERY—No carlot arrivals: two broken cars on track. Supplies moderate: demand Lant: ‘market steady. New York. half jndividusily wasned. 5-6 dogen. ozen, 2.00: Michigan, high- B dozen. 50, 2 Sosen: Iceberg ONIONS—Truck receipts liberal: uum. dml auu i prke’tb" ] 0 N g e Sirae Fies—one Soutn Carolina arrived: ane GGroEen on track. Supplies mod- erate: demand h Yis 5o e ches, 2.50-3.00; Bushel baskes. Elbertas. U. inch mumimam, 2.50.3.00; peor condition, $,00;4a-bushel baskets. Belles and Hileys, 8. 1. 2ls-inch minimum. 1.50: Eiertas, 0 8 No ) medium t il!! . e best. 5.75: ‘poorer, .00 ! b3 28} large size gini, askets. Golden " Jubilee, 8. 1 fe-inch minimum, “2.00-2 2ineh rmmmu § PEAS—On on__ arrives five A A market steady; bushel ampers. Telephones. Colorado. fair con- anfene 1.60-1.75: Washington, 2.00-2.25. Potato Prices Improve. POTATOES—Truck receipts moderate; supplies moderate: demand moderate market <lightly stronger. Eastern Shore, Va., Cobblers. U No. 1L.Swve hnrmx. 00: 100-pound _sack: 15; New ‘r"vxxe‘) J100-pound sacks. Eovlers, s, 0. 1.'1.15-1.25 TOMATOES—Truck receipts moderate; supplies moderate: demand moderate; mar- New Jersey 12-quart climax North Carolina. lug_boxes, nd turning, wrapper, 6x6 and {i broken cars on track. demand " ligh MELONS—Three North Carolina i, °he broken and four unbroken rack. ~ Truck receipts liberal: liberal: @omsnd light: market steady. North and South Carolina,’ Tom Watsons. Do Dounds average. 40-50: pounds _average. 30-35. each MEXED EGETAB! No~ carlot ar- rivals: one broken car on track LIMA BEANS —Truck receipts moder- ate: demand light: market weak, Bushel hampers. Eastern ' Shore, Md. i 50 South Garolina_fair Sonaitio ‘moderate: | demard New Jersey, bushels, cks. 5 dozen. &0 od ate et teady, Bushel asvere, Penmylvnmn. 75: New Jersey. RANGES—No _carlot__arrivais: five broken cars on track. California, boxes, 4.2686.50. as to grade and size. NEW YORK SUGAR. YORK. July 23 (P.—Sugar fu- tures both buyers and sellers generally cautious pending developments in the T quof legislative situation at Wash: Prices fluctuated _{rregularls contract ruled i point Righer tember 1.23 and March, tracts were 2 points lower 001 higher with July at 252 and selling from 2.38 to" .36, 3 con- int (arch YORK. July 23 (P.—Conper and = future, glectroiytic, "anot 14.50. asier: Tin, slBot . 58.3715-50; lumn R Lead' steady; New York 6, East St. Louis spot. steady: ‘East St. Louls spo 7.00. ' Antimony. 15.50. quicksilver, changed. BDSTON WOOL MARKET. BOSTON. July 23 (® (United 8 Department of Ariculture).—Finer il ern-grown w Tmproved ema c:mpnred with "aetivicy future, Toon " aumisars: platinum and scheelite un- demand today, weel " Good French-iensth fine territory wools got some demand at around 95 scoured basis. Buyers bid for Pren combing wool in orjginal bass at around 93 sooured basis, erings st tnis level were restricted to smal or Contalning short. fine and half-blood wool air_com % For Purchasing a Home or RE-FINANCING EXPIRING TRUSTS NO COMMISSION CHARGE NO RENEWALS REQUIRED Decline Follows Four-Week Increase Amounting to 210 Millions. B the Associated Press. The Federal Reserve Board re ported member bank excess reserves declined $90,000,000 during the week ended July 21 to $870,000,000. The decline followed & four-week increase in this supply of lendable money aggregating $210,000,000. The amount of excess reserves is an important factor governing interest rates and other credit conditions. The Reserve Board has expressed the view. that $800,000,000 of such funds is ample for the maintenance of “easy money” conditions. The board reported a $19,000,000 decline in gold stocks for the week to $12,404,000,000. The Treasury earlier had announced gold stocks dropped off $41,000,000 on July 20, but part of this loss may have been made up by acquisitions on July 21. The drop in gold holdings was the first since last October. It resulted from operation of the Chinese-Ameri- can monetary agreement, under which the Treasury sells gold to China. The Reserve Board said its hold- ings of Government securities re- mained unchanged during the week ended July 21, at $2,526,000,000. This was $96,000,000 over the same week & year ago. Changes in member bank reserve balances and related items during the week and the year ended July 21, 1937, were reported as follows (in millions of dollars) : July 31. July 14. July 22, Bills discounted __ 13 100y 1038 Bills bought U8, Govt. securi- Industrial advances (not including 16 million commit- ments—July 21) Other Reserve Bank credits Total Reserve Bank credits Gold_stock Treasury currency Member bank re- serve balances they in circula- Treasury cash” Treasury deposits with Federa Re- serve Banks Non-member depos- posits and other Federal Reserve accounts *Less than BROKERS’ LOANS DROP 5 MILLIONS IN WEEK BT the Associated Press. The Federal Reserve Board reported that last week’s loans to brokers and dealers on securities held by report- ing ‘memtcr banks in New York City totaled $1,142,000,000 For the week ended yesterday, the total represented a decrease of $5,000- 000 when compared with the previous week. Loans for the corresponding week & year ago totaled $970,000,000. DIVIDENDS ANNOUNCED NEW YORK. July 23.—Divide . Slared. prepared by Tt Standara Bate: tics Extra, k. of Pay- Pe. 8tk Logws Boston Thea S S "%‘5‘%'7“ Py Holu};‘:“nso ld g-z. Greene Cananea Co_$. Increased. Smith Agri Chem__ Accumulated. Nat Grocers 7% pf__$1.75 .. l.nhr A, as Plywoo $ Socke Bankers & Suip tn Ban ok & 8hip na $125 Q 0d & Share iy Bo:!riml Inc $2.75 te Chile Copper ___"" Freenort Suiphur Co_ 5 ecport Sulphur Co Do, 6 ( 1 Greene Caj Cop Hamilton_ Watcn Do.. <150 ateh Ironrite Ironer 87 pf Kansas Util 7% pf §1 Loglol' Groceterias A 25 Boston Thea Smuh Agri Chem 2 e Ins U 8 "Playing Cara - wnnm-?m"' s Hide m Forging July 23 (P.—8tocks were firm in AnE R dnunn tod: il vl siderably greater than’in Home rails were 'best gainers. t‘Tlowm( favorable dividend declarations. in- dustri mines. olls and trans ksisniic ared the upturn. The gilt-edged #roup and European bonds were Gulet, PARIS —The Bourse was irregular to- day, with wovernment bonds _cioat trading ‘was relatively quiet with | ! ildings in gton end near- by Marylend. D«mnlmlul of $500 up. Interest 6% per annum. Bradley, Beall & Howard, Inc. Southern Bldg. Phone Nat. 0271 Established Nearly ¢0 Years Money For CONSTRUCTION LOANS and LOANS ON IMPROVED PROPERTY in the S District of Colambia Nearby Marylend and Virginia Prompt Action B. F. SAUL CO. 928 15th Street Nutl 2100