Evening Star Newspaper, July 28, 1937, Page 20

FINANCIAL, THE EVENING STAR, WASHINGTON, FINANCIAL. STOCKS SELL OFF FRACTIONS TO'§1 U. S. Steel Leads Retreat After Earlier Rally. G. M. Also Down. Stock Av rragcs Prev. 1937 Stock and ngh Low. Dividend Rate, Add 00. Hish. lf:' Close. 2 Contl Motor 50 50 ¥2 82 19 19 2314 2 Bales— Add 00, High. —¥iis ow 91, Contl O1I(DeD1%g. 14 48% Corn Exchanseé (3). 120» Corn Prod (3) Coty Net Prrv 1a17 Low. Close. ehge, 215 47% -1 63 — 14 62% — % B Stock and Dividend Ratr Add 00, 4 Louisv & (58). 29% Luldum Steel (1)_ 24% McCall (2) ___ 14% McCrory Strs Mcintyre Porc McKeesport T (2) - McKesson & Ri MecLellan Strs( Mack Trucks (1)___ Macy (R H) (2a) _. Magma Cop (1325) - Bales— Net Prev.1937 . Low. Close. chge High. Low. b4la Stock and Dividend Rate, 'mw Seaboard Ofl (1)~ Sears Roeb (3) rvel Corp (1a) haron Steel (1.20). 4 Sharp & Dohme tiuck FG (.60) t Bales— Add 00. High. Low. Close. thK! 48% —1% sley Radio Crown Cork (2) 4 Crown Zeller_ Crown Zeller pt (5). Crucible Steel A Cuba Co__ Cuba R R pf Cuban-Am Sugar. fix,, Curtis Pub.__ Curtis Pub pf (7) Curtiss-Wright ___ 3 Curtiss-Wright A__ Cutler-Ham (1g) 1404 Simmons 4914 Skelly 5814 Sloss-She S ¢ 61 161 Sloss-S 105 9 1815 20% 238 4 an Ry mod gtd (r). 10 Manhat Shirt (1)___ 20 Maracaibo Oil_____. 4 Marine Midl (.40a) _ 10% Market St Ry 2d pf 31y Market St Ry 2413 Marlin Rock (2) 214 238 25 1915 6615 25% o) Net change g Today, close 963 442 ted to the: as wer appliences, ton territory r Co. in- se installed period a | D. C, WEDNESDAY, JULY 28, 1937, Prev. 1937 Stock and Sales— High. Low. Dividend Rate 8415 633 Acme Steer (4) __. 22% 15 Adams Exp (.30g) 36 28 Addressog (1.40)._. 80l 64's Air Reduction (1a). Q - 11 Alaska Jun (.60a) .. $2.01a Share, Against 28 Alleghany . ._____ $1.52 Year Ago 9 34 Alleg pf $40 ww . r B ar Ag » 17% Alien Indus (1) Zai‘, 215 Allied Chem (6) _ Net earnings of the North American 15 Allied Stores ( 208, Co. and subsidiaries for the 12 months 57 Allis-Chalmers(1g) share on the outstanding common 4 Amal Leath Stock, against $1.52 a share a year 80 Amerada (2) _ President J. T. Fogarty stated in his quarterly letter to stockholders re- Operating revenues were $119,162.- 690, an increase of 6.74 per cent. Of counted for $94.4 an advance of 8.39 per cent. At the same time op- o $67,890,166 being more than 6 per cent. n the first half of this year broke all ecords with a 11 per cent gain. In wreas plaved vital roles, their weekly Jutputs in June and again in July veached last Winter, The electric ref; be widely used, continues as a leading ~ontributor I ed load oi} he first b 72.800 addi thirds as v all of 1936. ~lectric k {rigerator, of Potomac Electric P creased 22 per cent over ti year ago. Electric air conditioning installa- | American subsidiaries during the haif | vear numbered 493, an increase of 63 during the corresponding period a year earlier. These represented total ad- | 8.800 kilowatts, an increase of 34 per | cent over such load added during the | states. Brawner on Bank Directorate. the Chevy Chase and Chestnut Farm Dairy Corps, now units of the Na- elected a director of the National Bank of Washing: President J. Frank cancy on the board caused by the recent death of his father, Henry N. v for many years. E. N. e new director, is widely as well as belonging to an unusually prominent family. Letters are being sent out from the head office of the District Bankers' the annual convention of the Amer- ican Bankers' Association at Boston in make their reservations at once through the District association’s The Washington delegation will be led by Thomas J. Groom, president and a large number of Jocal bankers i the sessions. of the A B. A wil no doubt be| on the plaiform when the convention | trict Bankers' Association's standing committees will be especially inter- Rural Sales Best in East. Daily average sales in small towns | larger increase 4n the East than m other paris of the country as com- the Bureau of Foreign and Domestic Commerce indicate that sales in the June of last year. Increases of about 10 per cent were recorded for the | The dollar volume of retail financing of new passenger automobiles showed compared with June, 1936, but an in- crease of 65 per cent as compared partment of Commerce. Virginia Bankers in Session. liam Clearing House Association held its meeting and dinner at the War- Va., with about 40 present represent- ing the banks of the three counties. the University of Virginia, economist of the Federal Reserve Bank of Rich- Richmond Federal Reserve Bank. The Bank Women'’s Club of Wash- ing at the Highlands on Monday eve- ning, with the president, Miss S. feature of the program was an address by Mrs. Lillian Cox Athey, writer for author of “Along Nature's Trail.” The meeting was one of the most interest- Banks Would Repay Treasury. Legislation under which the Federal which they received from the Treasury for the purpose of making commercial Representative Steagall, chairman of the Banking and Currency Committee. #aid was drafted by the Federal Deposit Insurance Corp., also provides that the 2 per cent interest on money given them for commercial loans. serve banks in connection with com- mercial loans were provided for in from their surpluses $139,000,000 of stock in the Federal Deposit Insurance Today’s Trading on Exchange. Mergenthaler Linotype sold at 44 on for two 10-share lots. It sold in Bos- ton yesterday for 44'2. Six shares of moved at 290. Capital Traction 5s registered 86 on tric Power 51> per cent preferred stock appeared on the board at 112, un- The bid on the new Washington Gas common stock was 25, with 27 A—20 xx% By Private Wire Direct to The Star. 55 4413 Abbott Lab (1.60ay_ 28% 2213 Adams-Millls (2)_ Net for 12 Months Equals| 8 64 Air Reduction 304 Alleg Steel (.807) B EEDIARD,O STONE. 20 Allied Mills (2g) ended June 30 were equal to $2.01 & Alpha Portland (1) ago and an increase of 32.12 per cent, ceived here today. this amount electri venues ac- crating expenses were up, the total Electric output of the subsidiaries his the Washington and St. Louis >xceeding the old peaks which were major electric household North Ame were conne Additio: n homes in tite Wa. during the correspond: tions connected to the lines of North | per cent over the number installed ditional connected load of more than | first half of 1936, President Fogarty | Edgar N. Brawner, vice president of tional Dairy Products Corp.. today was White announced. He fills the va- Brawner, jr., who had served the bank known in Washington business cir Convention Plans Started. Association to all members regarding October. It is requested that members office. of the Dis Banks Association, V. Fleming, former president comes to order. Chairmen of the Dis- | ested in the Boston meeting. #and rural areas for June showed a pared with June, 1936. Estimates of Fast were about 27 per cent above three other regions. a decline of 2 per cent for June as with June, 1935, according to the De- The Loudoun-Fauquier-Prince Wil- ren Green last evening at Warrenton, The speakers were Dr. Kinkead, of mond, and J. R. Tucker, also of the ington held its monthly dinner meet- Winifred Burwell, in the chair. The The Star and widely known as the ing held in several months. Reserve banks would repay money loans was introduced in the House by The bill, which Mr. Steagall’s office reserve banks shall pay the Treasury The Treasury payments to the re- 1934 after the reserve banks purchased Corp. the Washington Stock Exchange today ‘Washington Loan & Trust Co stock & $1,000 transfer and Potomac Elec- changed. asked. e Arkansas Power & Light Co.—Pre- ferred share earnings, 12 months end- ed June 30, were 510.27, against $6.51. ) 57% Am Brake 5 Am Brake S pf ny‘, 9901 Am Can (ia) 15213 Am Can pf (7) 46 AmCar&Fy (%g). Am Car & Fpf (48). Am Chaln & C(%48) Am Chicle (4a) 13% Am Colortype 20t Am Comel Aleo 25 AmCrystal S 2% g 881 Am Crys Sug pf(6). 5% Am Encaustic Til__ 65 Am & Foreign Pow_ 45 Am & For Pw $7 pf_ 18'% Am & For Pw 2d pf. Am Hide & Leath Am Hide & Lt (3). Am Ice Am Tce pt (1g) Am International _ Am Locomotive Am Loco pf __ Am M & Fdy (%g) - Am M & Met (45g)- Am Metal (4 g) = Am News N Y (3) - AmTow & Lt Am 5 pf (5 Am P& L $6pf ( Am Rad & St S(.60) Roll Mill(1.10g) Am Am S Am Stores (17;2) Am Sugar Ref (2) Am Sumatra (1a) ._ Am Tel & Tel (%) Am Tobacceo (5) Am Tohaceo B (3) Am Tobpf (6) ._.__ Am Tvpe Fdrs Am Wat Wks (.60g) Am Woolen 2 Am Wool pf (?k) . AmZinc L&S Am Z&Ld prpf14g “ap (.30g)_. ir Del pt (7 Armour 111 Armstrous Crk(1g) Armstrong_ July 30 Arnold Const (%g). Asso Dry Goods Assoc In pf ww (7 AtchT&SF (2g) .. Atehison pt ( Atlantic Coast Line, Atlantic Refin (1) Atl Refining pf (4) - Atlas Corp (.80) __. Atlas Corp pf (3) - 5 Atlas Pow (112g)_ Atlas Tack (1(g)_ Auburn Auto _ Aviation Corp . Raldwin Loco (r) _. Baldwin Lo pf (r) _ Baldwin Loc asd(r) Balto & Ohio Balto & Ohio pf Bang & Ar (21, Barher Co ( Rarker pf (23 ) Barnsdall (1) Bayuk ar (%K) - Beech-Nut P (4a) ._ Beldin-Hem (1) _ __ Bendix Aviat (13g). Benef Ln (1.321,g). Best & Co (2122) Bethlehem Stl (1 Beth St1 7% pf (7). 4 Bigelow-San 14 g _ Black & Deck (%g). Blaw-Knox (.45g) ... Roeing Airpl Bohn Alum (3) Bon Ami B (1%§) Borden (1.60) Borg-Warner (2)_ Boston & Maine Botany C M (A) (r) Bridgeport Br .40g_ Briggs Mfg (1128) - Bklvn & Queens 4 Bklyn Un Gas 2.30g. Bucyrus-Erie Budd Mfg Budd Mfg pf__ i Budd Wheel (.20g) - « Bullard Co (1) _ Bulova Watch (4a). % Burlington Mills(1) Burr Ad Mch(.65g). Bush Term (r). Bush T 7% deb (r)_ Rutler Bros (.60) Butler Bros pf(113) 4 Butte Copper & Z Byers Co ByersCopt ____ 25% Byron Jack ((1g) - 354 Calif Pack (1%32) 50 Calif Pack pf (212)_ 2% Callahan Z-Ld 12° Calumet & H (%g)- 24 Campbell Wy (1)__. 2315 Canada Dry G Ale__ 11% Canadian Pacific 13% Cap Adm A (328) _. 9713 Car Clin & Ohio (4). 6% Carriers & Gen .10g. 18315 138 Case (JI) . 41% 4R 8214 39% 12% 41% 24% 861 23% 687 170% 25% 628 112% 51% 2T% 30 207% 26% Celanese (1158) - 3614 Celotex (.40g)_. 73% Celotex pt (5) 30 Cent Asuir (1% 6% Central Fdy 18 Central RR N 11 Central Violeta Sug. 60 Cerro de Pasco (4)_. 11% Certain-teed 50% Ches & Ohio (2.80m). 615 Chi & East Il pf(r). 2 Chi Gt West (r) ___ 8% Chi Gt West pf (r)_ 7 ChiInd & Lpf (r) _ 241 Chi Mail Or (1%a)_. 1% Chi MStP&P (1) . 3% Chi M St P&P pf(r). 3 Chi&NW (r)_ 9% Chi & N W pt (r) 21 Chi Pneu Tool __ 35 ChiPneuT cv pf(3) 3 CRI&P 6% pf (r). 4% CRI&P 7% pf (1). 14 Chi Yell Cab(1% )~ 15% Chick Cotton Oil 9% Childs Co 94 Chrysler (78) 17% City Ice & F (2)_ 8 City I&F pf (6%)- 6% City Stores ___ 321 Clark Equip (1.60) 35 Clev Graph Br (1g). 86 Clev & Pitts (3%) 4714 Clev & Pitts sp(2) . 23% Cluett Peabody (1). 12214 Coca-Cola (2)___ 17% Colzate-Palm (34) 47% Collins & Alk (2a) 107% Collins & Aik pf(5)- 31 Colo Fuel & Ir (1g)- 15 Colo & South 15% Colo & South 1st pf_ 10 Colum G&E (.208) 80 Col GRE pf A (6). 28% Col Pict vte (1a) ... 56% Obmel Credit (4)__. Comcl Invest Tr(4). Comcl Solv (.60) Comwlth & Sou_ Congoleum-Na (2) . 4 Consol Afreraft._. 9% Consol Cigar 2113 Consol Edi (1.50g) -, 99% Consol Edis pf (5) _. 213 Consol Film . _____. 10 Consol Filmpf ____ 9% Cons Laundries ___ 14%2 Consol Oil (.80a) __ 415 Consol RR Cuba pf_ % Consol Textile 814 Consol Coal 33 Consol Coal pf ._. 20% Container (1.20) 50 Contl Can (3) 1813 Contl Diam Flh(ll) 35% Contl Ins (1.608)-.. R e P L T B P - @ » o D sl -~ NTE B na T an o hinannaace " " - » 5 B0 PR N0 A L I 0E DTN WA NN DI DS~ D E WA - = o S s - nBawnmn vanEEa TR annmoa o Davega Stores (1a). Deere & C ! Deere & Co pf(1.40) Deisel-Wem-G (1) . Del & Hud Del Lack & W __ Detroft Bd (5g) Datroit & Mac Diam Mat pf(13ia). Diam T Mot (32g)-- Dist Corp-Seag . _. Dixie-Vortex (11,)_ 41% 31 Dixie-Vor A (2 461 35 Doehler Die C (]K). 51 38% Dome Mines (2a) 12% 8% Dominion St 77% 471 Douglas Airc 1594 115% Dow Chem 391 24 81, 37y 58% 33 2412 133 14615 1107 22 9y 4018 33 23 149, 23 20% 25 18 Dunhill Intl 122 112 Duplan Silk pf (8) 180t 14815 Du Pont de N (2% g) 17 91, Rastern Roll 181% 151 stman Kodak (8). 371y 291 m MEg (1%5) tinzon Sei S0 G160 % uto Lt 1.40g cc Mu.’\t g S 1T ww il lquit O Bldg Irie It R 5 ireka Vacuum CL. ns Prod (1) tss Mree(la) Mot (.10g) - Gair (Robert) .\"\\'rmd Ind (34g) Am Iny Am Inv pf (6) ten Am Trns(11.g) ng (.60) . Gen i Gen Mills pf (8) Gen Motors ux.:n Gen Out Adv / Gen Pub Sve Gen Ry Gen Real & Uti Gen eal & Gen Refract (2h)__ Gen St] Cast pf Thea Eq (128) - Time In (1a)__ dden Co (2a) Gobel Adolf _ 5 Goebel Brew (.20a). oodrich am-Paige ranhy Consol Granite Cit Stl (1) Grant (WT) (1.40a) Great Nor Ry pf vt Nor Ore ct(3 &) Grt Wst Sug(2.40a) Green (HL) (1.60a) Greyhound (.86) Guantanamo Sug 5 Hall Print g Hamilton W (1.238) Hamil Wath pf (6)_ Hanna $5 pf (5) < Harb-Walk (1g) Hat Corp pf (6 Hayes Body Heckgr Prod (.60a)- Hercules Mot (1) Hercules Pow (38) Hercules Po pf (6) - Hollander (1) Holly Sug (2%g) Houd-Her A (213) Houd-Her B (132) Household Fin (4) 3 Houston O11 Howe Sound (3a) Hudson & Man_. Hudson Motor_ Hupp Motor __ Illinois Central Indian Refining Indust Rayon (2)-_. Ingersol Rnd(11:g) Inland Stl (2128) . Inspiration Copper Inter Rap Tran (r)_ Intercontl Rubber_ Interlake Iron_ Intl Asricul Intl Asri pr pf (3k)- 14615 Intl Bus Mach (6a).- 99 Intl Harvestr s 4 Intl Hydro-Elec Y3 Int Mer Marine _ Intl Mining (.308) . s Intl Nickel Can(1g) 4. Intl Paper & Pw A _. 9% Intl Paper&PwC . 121% Intl Paper & Pw pf- 10 4 Intl Ry Cent Am___ 8% Intl Ry Cent Am ct. 57l 49% 52 108 105 103 189 116 1674 15% 18% T3% 24% B RS RE 313, Intl Silver _ 15% 9% Intl Tel & Tel 36% 20% Interst Dep S 2%g 10714100 Interst Dept pf (7)- 26% 17 Intertvpe (.30g)- 8T 6915 Jewel Tea (4) - 155 120 Johns-Manville (3). 136 117% Jones & L pf (33:k) 28 Kalam Stove (1a) - 15 Kansas City Sou 25 Kansas City Sou pf. 12% Kelsey-Hayed A 9% Kel-Hayes Wh B 51 Kennecott (28) 14% Keystone S&W (.60) 37% Kimberly-Clark (1). 44 Kinney (GR) pf-—— 3113 Kinney prpf___ 814 Kresge Dep Stores .. 20% Kresze (SS) (.608)- 81% Kress (S H) (1.60) - 18 Kroger Groc (1.60) - 18% Lambert (2)- 5 17 Lee Rub & T (1g) - 32 Lehigh PortC (1%) 1% Lehigh Valley Coal. 8% Lehigh Val Coal pf_ 1314 Lehigh Valley RR— 36 Lehman Corp (1a)-. 14% Lehn & Fink (1%)-. 40 Lerner Stores (2a) 5814 Lib-Ow-Glass (38)- 9% Libby McN & Lib__. 94% Liggett & M B (4a). 59 LimaLoco - .. 25% Liquid Carb new % 6415 Loew's (2a) - 110 105% Loew's pf (6%)-. 5% Long-BellA __. ___ 28% Loose-Wil Bis (2) - 28% 20 Lorillard (P) (1.20) 38% - % 28% 19% LoulsvG&EA1%.. N © pRaRNw 160 12 150 614 o I (b1} (70 5 6 = IS ST (A R N0 10 100 00,6 4 1O B 60 1 0 00 1% 1 21% 21% 21% - % Z 5 5 5 307 74 Marshal Field . Martin (Glen) Math Alkali (11%) May Dept Strs (3a). Maytag Mead Corp (12 Mengel Mengel 5% pf( Mesta Mach (2 Miami Copper 514 Mid-Cont Pet ( Midland Steel (2) Midland S$t11 pf(5). Minn-Hon Reg (3)-. Mo-Kan-Texz Mo-Kan-Tex pf Mo Pacific pf (r) wie Crp(1 to Ch 11 Ward(za) A1) H&H (1 " N H & Hpf (r). Fac West Oil (.6 » Packard Mot (.13g). Pub S N J 7% pf( Pullman (1%2)- Pure Oil = Pure 0il 6% pf (6).. Purity Bak (.30g)_- Reliable Rem Rand (.7 Rem R pf ww (412) Reo Motor ==, Republic Steel Revere Copper & Reynolds Met (1) Rey Met rts Augl2. Reynolds Spr (1) Reynolds Tob (3) Reynolds Tob B (3) Ruberoid (.60) - Rutland pf __ Sa 6% pf (6 Safeway 7% pf (7). 1008 StJoseph Lead(2a). 5 104% 43% Schenley Distill (3)- hulte Ret (r)._. Schulte Ret pf Scott Paper (1. Seaboard Air L (r) _ Seaboard AL pf (r) 2 1Y Sperry and F Stand ( and ¢ Tex & I Tide-W [k Wester Wester Wester est U Wheeli 20' Yellow Approximate Sales 108% 591y 2314 43 1% tion. 14 included 40 X Ex dividend. 1% lnst year, year. 5l clared this year. 5 and C and Gas & I (r) - hington pf A Wor P& Mpf B 19t Wright Aero Yale & Towne (.60). ) al Sales for the day, 6% 614 SUnit of trading 10 shares T In bankrupicy or rceivershin. or being reorganized under bankrupicy act, or securities assumed by such companies. Rates of dividends in the foregoing table are annual dis- bursements based on the last auarteriy or semi-annual declara- Unless otherwise noted. special or extra div fPayable in stock. g h Cash or stock. Spen-Kell (1 r,m) « D Co B.60g 3r om Tob & Epf (r) . and Oil Calif (1a) il Ind (1a)_. Stand Oil N J (la) . Sterling Prod(3.80) Sunshine w01l Sul (za) - Tox Pac &0 Pac ompson Pr(.¢ Thompson at As ( mken-Det Ax (2 ken Roll B ( A Mot (1a n M n I I n 3 El Westvaco Chl pf 113 ng Stl Wheel Stl p: Motor e R\ o Sew M pt 1Sp 1.40. 208 107 40s 100 Tr I x:uho(l ng) nite rod _. of Stocks on 210,000 460 000 Y. Stock Exchange. 12:00 Noon 0,000 100 P.M. 870,000 ends are not xr Ex rights. a Also extra or extras. e Pald k Accumulated dividend paid or de- ALLEGHANY LISTING ACTION IS SHELVED Application Withdrawn to Avoid Embarrassing Exchange in View of Possible Hearing. By the Associated Press. NEW YORK, July 28.—A source close to Robert R. Young, chairman of the Alleghany Corp., said yesterday the Alleghany and Chesapeake Corps. —controlling units of the old Van Sweringen railroad empire—withdrew applications for listing on the New York Stock Exchange because they did not desire to embarrass the exchange in view of a possible hearing on the merger of the two corporations before a Senate committee. The Alleghany Corp. had applied for listing of certificates of deposit on its 5 per cent bonds of 1950, and Chesa- peake, an affiliate concern, applied for listing of 521,745 shares of common stock, both listings part of the merger plan. The withdrawal was announced by the stock exchange after the close of the market. —_— INDUSTRIAL OUTPUT DROPS DURING JUNE By the Assoclated Press. ‘The Federal Reserve Board reported its barometer of industrial production swung downward during June, largely because of labor difficulties in st,eel] mills. ‘The index, which allows for seasonal influences and is based on the 1923- 1925 average, stood at 115 for the month, compared with 118 in the pre- ceding three months. The June figure, however, was 11 points over the same month last year. Factory employment and pay rolls declined more than seasonally from mid-May to mid-June, “largely as a result of strikes in the iron and steel industry.” MARSHALL FIELD SALES LAG, BUT NET IMPROVES By the Associated Press. CHICAGO, July 28.—Marshall Field & Co. reported its sales totaled | $47,693,053 for the first six months of 1937, a decrease of 1.3 per cent from last year, but that its net profit for the same period was highest since 1929. The net profit of the department jstore firm and subsidiaries was an- nounced as $1,268.746, as against $30,- 458 in the first half of 1936. POWER OUTPUT GAINS. output of Standard Gas & Electric System in the week ended July 24 in- creased 11.2 per cent over the same week a year ago to 111,519,896 kilo- watt hours, the company reported today. e e America will be represented at the horse show in Dublin, Irish Free State. Declared or paid so far this | NEW YORK, July 28 () —Electric | Prev. day... 9 Month ago. 89.5 Year 1937 4438 40.0 52.3 540 39.1 53.7 495 36.1 435 302 434 87 239 -1469153.9 18431577 low.... 516 953 618 61.8 ‘ (Compiled by the Associated Press.) BY VICTOR EUBANK, Associatec Press Financial Writer, NEW YORK, July 28.—Caught in cross currents of selling, the stock market yielded fractions to one or more points today. United States Stecl, [ ter, the pace set- led a late decline, dropping around s after an earlier abortive r irnec in a hea , falling more than a point Farnings reports of both companies, issued after yesterday's close, providad the key to action of the shares, brokers <aid yme said offerings of Steel reflected no action was directors on ihe common. 1buted the on favorable news" ond-quarter net = of General Motors to report earnings despite increased ught s For a around midday d metal shares found friend later they were left to shift f aviation but thame sactions approximated 900.000 most of the session Goodyear, Ward. Phillips _Petro- Telephone, Western 1da, American Smelting, c. Du Pont, Standard anta Fe. New ania and Bale for Westinghouse < for a time, but late ore than 3. ‘f‘. Steel's drop in profits was { more than 2. Mar- demand around on its showing best net the period since 1929. but buying i Deere was off about 3 on n of the common dividend t shares were Boeing, Doug= A United Aircraft, Curtiss Consolidated Edison, Loew's and Associated Dry Goods. FELT NEW YORK COTTON | By the & ated Press NEW YORK. July 28—Disappoint- g foreign markets inspired selling in oday, but after early losses of $1 a bale prices recovered pare noon for ter trading offerings tapered covering developed in- ced partly by showery conditions parts of the Eastern beit. sold from 10.94 to 11.09 and close to the best recovery afternoon. when quotations t 6 t0 8 points net louer 5 lower. Close. 1104 01-03 Cottonseed Oil. Bleachable cottonseed oil barely steady. 2 to 5 . 46 contracts 8383 ary. 889-90; B—Bid futures lower. September, 8.93; December, 886; Janu- March, 8.91B. New Orleans Prices. cady D»c;-n,-r. Week ended Juiy o1 I’rflm\‘\ vk | Tne G Rorthn | Mo_Pac (N Y Gentral Pitts & Lake Prie St L San Fran U. S. TREASURY NOTES. | . NEW YORK. July 28 (.—Prices quoted | in dotlars and thirty-seconds: Approx, Asked_ yield MONEY MARKET. NEW YORK. July 38 (P.—Call money steady: 1 per cent all day: prime commer- e Tine”T £0r cont. Tins Toane pipers f0-00, Gads. dve; 46 months. 1ls'per cent: bankers' acceptances unch re- &iscount rate. New York Reserve Bank, 11 per cent. " New England Fund PTOSPCCHIS on Request A. S. GovLpexN & Co,, INc. Woodward Bldg. NA. 2000