Evening Star Newspaper, July 30, 1937, Page 14

FINANCIAL THE EVENING STAR, WASHINGTON, D. C., FRIDAY, JULY 30 937 FINANCIAL EL/STOCKS IRREGULAR Prev. 1937 High. Low. _ Dividend Rate. 10% 4 Den& RioG W pf. NGla 110% Detroit Ed (5g) - 26 Diamond Mat (1a) 33% Diam Mat pf(1%a). Stock and Prev. 1937 Not Md 00. Blfll. ll:'. CIou. chge. | High. Low. 24% l llGVg 115% 115‘& - 24 27% + 88‘/4 13‘6 33U — Btock and Dividend Rate, Add 00. High. 16% Nash-Kelv (1)__._.x 15 17% Natl Acme (%g)-_ 11% Natl Aviation _ Bales— Net |'Prev.1937 Low. Close. chge | High. Low. 185 18% + % 16 21% 21% — 4% 13% Stock and Dividend Rate, Sperry Corp (le) Splegel Inc (%g)- Spiegel pf (415) By Privats Wire Dlnet to The Star. Prev. 1937 Stock and les— High. Low. Dividend Rate. 2! 15 Adams Exp (.30g) . 221 Adams-Millis (2) 28 Addressog (1.40) Net Add 00. flé.h. Low. Close. chy 18 1 PHONE EARNINGS 18% - 1408 338, . & P. Revenues Well Above 1936, but June Profits Drop to $145,530. BY EDWARD C. STONE. While operating revenues of the Chesapeake & Potomac Telephone Co. in June were substantially higher than 1 year ago, operating expenses recorded 3 sharp advance, leaving a net in- come of $145,530 against $160,028 in June, 1936, according to the monthly statement filed today with the Public Jtilities Commission. Operating revenues totaled $928,604 compared with $891,738 a year ago; Jperating expenses required $691,320 igainst $630,884 last year, leaving a 1et operating income of $160,169 in ‘omparison with $172,681. Taxes took 77,115 against $88.203 a year ago. Jet non-operating income was slightly vigher than last year, making gross ncome of $162,385 compared with 174,147. Interest deductions called or $16,855 against $14,119 in June, 936. Washington was served by 220,028 elephones on June 30, & net loss of 19 >hones over the previous month. Tele- >hone users in the Capital made 26,- '14,000 calls during the month com- sared with 23,489,000 during the ame period last year. The C. & P. company also reported " net income before dividends of $1.- 10910 in the first six months of 937 as compared with $1.075984 a ear ago. Operating revenue amount- ‘d to $55 this year and 15,330,076 las Operating to- aled $3.980. nst $3,723,441 in he first half of 1 Taxes required 5496 472 as compared "ith $451.148 and lefi a net operating ncome of $1,113.152 vs. $1.157,187 last ear. Non-operating incoiae was over 10,000 this year and only $4.914 a “ear ago. Total gross {ncome amount- ~d to $1,123,553. while gross a year ago oluled $1,162,101. Interest deduc- ns called for $112,643 against only 386,117 in the same 1936 period. There was a gain of 5826 tele- phones installed against a gain of 4. 329 & year ago. Telephone calls in ‘he half year totaled 151,491,000 com- pared with the much lower figure of 134,865,000 a year ago, the report stated. Railway Earnings Mount. The Virginian Railway reports for ‘he six months ended June 30 net "arnings on }I\P common stock of $7.52 ver share share in lnP fi months of 1936 report substan- ising gains. The Atlan Coast Line R. R. had A net operating income in the first half year of $2,899445 against $2,- 170,622 in the like 1936 period. ‘The Seaboard Air Line reported net operating income in the six months of $2,956,263 as compared with $1,161,- 953 in the same 1936 months The Southern Railway's net operat- Ing income for the six months amount- ed to 9,267,498 against $7,759,243 in the first half of 1936, Norfolk and Western reported a net operating income of $16441219 in the half year as compared with $15,- 156,148 a year ago. The Norfolk Southern R. R. also noted a big increase, net operating in- come amounting to $330.632 this year against $155,066 in 1936. Building Gains During June. Reporting for June and the first three weeks of July, the Federal Re- serve Board states fhat the value of construction contracts increased con- tiderably in June. The general level of commodity prices, which had declined from the beginning of April, began to advance after the middle of June. Commercial loans of member banks eontinued to increase during the five weeks ending July Demand de- posits declined. Leans to brokers and dealers in se- curities, which increased in June, de- clined during the first three weeks of July, the report said. Banks Continue Housing Loans. ‘The majority of Washington banks are continuing to make modernization loans, although title T of the national housing act has expired, it is stated in the financial district, ‘The Pederal Housing Administration reports that banks all over the country have adopted the same course. About 6,500 banks were participating in this policy through the modernization credit plan up to April 1, when the in- surance authorization expired. The amount of money loaned in this way by Washington banks has had much to do with helping business re- covery. The loans have also helped the banks expend their own income. For these and other reasons there seems to be no reason why such loans will not be made indefinitely, bankers say. Junior Bankers Draft Program. The new Board of Governors of Washington Chapter, American Insti- tute of Banking, meeting at the American Security & Trust Co., form- ulated plans for the coming chapter year. This was the first meeting of the new administration, headed by William H. Laughlin of the Wash- ington Loan & Trust Co. An enthused group of junior bankers discussed projects for the educational and so- cial program for 1937-8 Paul J. Seltzer, new Educational Committee chairman, stressed the importance of professional education in the banking field, and methods of increasing the educational value of the chapter were approved. Today’s Trading on Exchange. A small lot of Lanston Monotype, selling at 86, opened trading on the Washington Stock Exchange today. Mergenthaler Linotype also appeared on the board, two 10-share lots mov- ing at 431%. The final sale as in Po- tomac Electrie Power 5! per cent preferred at 111. Francis E. Robey, assistant cashier of the Bank of Commerce & Savings, has just returned from a two weeks’ vacation cruise. The new second vice president of Washington Chapter, A. 1. B, spent his holiday on shipboard and in visiting Havana. Cuba. OTIS STEEL EARNINGS CLIMB SUBSTANTIALLY By the Associatea Press. CLEVELAND, July 30.—E. J. Kulas, president of the Otis Steel Co., re- ported net profit of the corporation for the three months ended June 30, as 81,040,424, sfter all charges. Net profit, after all charges, for the half year ended June 30 was reported at 81,742,820, This compares with $000,349 for the first six months of 19 $5.25 a common | "1 i) 8313 8% 2613 567a 1433 1101 3% P 354 283, 105% 15% 301, 23% 621, lflfih 23% 6'&« 111 901 687x 4 12% 32 7% 6% 33 a 3% 8% 10% 27y 221 1574 135% 21% 10% 448 Y% 30 2074 391, 69% 114 8014 561 114 1127 20% 10915 & 10 1434% 81% 29 58% 24% 4108 641 Air Reduction (1a). 2 Air-Way E1Ap ___. 11 Alaska Jun (.60a).. 2% Alleghany _. - 341 Alleg n $30 ww____ 3013 Alle Steel (1.20g) . 215 Allied Chem (6) 20 Allied Mills (2g) ... 15 Allied Stores (.20a). 57 Allis-Chalmers(1g). 4% Amal Leath » s 80 Amerada (2) 20% Am Bank Note %g._. 59 Am Bank N pf (3)__ 57% Am Brake Sh(1%g) 90% Am Can (4a) 77 AmCar & F pf (4g). 28 Am Chain & C(3%g). 64 Am & Foreign Pow. 45 Am & For Pw §7 pf_ 18% Am & For Pw 2d pf. 5% Am Hide & Leath 17 Am Ice pf (1g 12% Am International 37 Am Locomotive. 43% Am Metal (3g) 7 Am Pow & Lt_ 40% AmP& L $5 pt 49% Am P & L $6 pf (6)_ 18% Am Rad & St S(.60) 31% Am Roll Mill(1.10g) 224 Am Seating (%g)-_ 79% Am Smit& R(2%g) 1385 Am Smelt pf (7)___. 48% Am St Fdrs (1g) 157 Am Stores (1%g)__. 37 Am Sugar Ref (2)_ 1241 Am Sugar pf (7) Am Tel & Tel (9) Am Tobacco (5) Am Tobacco B (5)_ Am Type Fdrs Am Wat Wks (.60g) Am Wonlen __ 4 Am Wool pf (2k)___ AmZincL&S Am Z&Ld prpf 1% 8 Anaconda (%g). . Anchor Cap (.30g) Arch-Dan M (1g) Armour 111 (.558) _. Armstrong Crk(1g)’ Arnold Const (%g). Asso Dry Goods __ Atch T&SF (2g) . Atchison pt (5) - Atlantic Coast Line. Atlantic Refin (1)__ Atlas Corp (.80)_ Auburn Auto Aust Nich pf A(5k). Aviation Corp Baldwin Loco (r) .. Baldwin Lo pf (r) _ 4% Baldwin Locasd(r) 7315 Baldwin pf asd(r).. 20% Balto & Ohio___ 27% Ralto & Ohio pf _ 100% Bang & Ar pf (5) 27% Barber Co (3 8)-. 34 Barker pf (2%) 233 Barnsdall (1) - 2113 Reatrice Cr (1a) 101 Reat Crpf ww (5) 11% Beldin-Hem (1) 181 Bendix Aviat (138). 20% Benef Lin (1.3275g)_ : Best & Co (214a) Bethlchem Stl (ae)_ Beth Stl 5 % L (1) Beth S$t17% pf (7). Black & Deck (%g). Blaw-Knox (.458)-. 5 Blumenthal pf_____ 714 Boeing Airpl Bohn Alum (3)_ 85% Bon Ami A (3g) 41% Bon Ami B (1%8) 2113 Borden (1.60) 387 Borg-Warner (2 8% Boston & Maine 1% Botany C M (A) (r) 15 Bridgeport Br .40g .. 394 Briggs Mfsg (1%g)_ 395, Bristol-My (2.40a)_ 1815 Bklyn-Man (213g)_. 621% Bklyn Man pf (6)__ 23, 264 3 16% Brunswick-Bal_. 14% Bucyrus-Eri Budd Mfg_ Budd Mfg pf Budd Wheel (.20g)_ Bullard Co (1) Burlinzton Mills(1) 2 Burr Ad Mch(.65g).- 412 Bush Term (r) 127 Rutler Bros (.60) __ 281 Butler Bros pf(113) 4'; Butte Copper & Z . 17ia Byers Co __ 35% Calif Pack (1%42) 2% Callahan Z-Ld 12 Calumet& H (%g)- 231, Canada Dry G Ale__ 11% Canadian Pacific___ 6% Carriers & Gen.10g. 138 Case (JI)._ 85 Caterpillar Trac(2). 26% Celaness (11;§) 73% Celotex pf (5) 30 Cent Aguir (1 615 Central Fdy 96 Cent Il Lt pf (413). 18 Central RRNJ __ 60 Cerrode Pasco (4)._. 11, Certain-teed 481 Certain-teed 6% 3513 Champ Pap & F (2) 107 Champ P & F pf (6) 67 Ches Corp (3) 5013 Ches & Ohio (2.80 2 ChiGt West (r) 7 Chilnd & Lpf (r)__ 24% Chi Mail Or (1%a) _ 3% Chi M St P&P pf(r). 3 Chi&NW (r) : 21 Chi Pneu Tool 35 ChiPneuT cv pf(3) 2 ChiRI&Pac(r) _ 3% CRI&P 6% pt (r). 413 CRI&P 7% pt (r). 14 Chi Yell Cab(1%g)- 15% Chick Cotton Oil 9% Childs Co 94 Chrysler (7g) 17% Clty Ice & F (2) 6% C 321 Clark Equip (1.60) - Clev Graph Br (1g). %, Cluett Peabody (1)- 12 Coca-Cola (2) . 13 Coca-Cola (A) 177 Coleate-Palm (). 102 Colg-Palm pf (6 4713 Collins & Afk (2a) . 31 Colo Fuel & Ir (1g)- Colo & South . 15% Colo & South 1st pt_. 10 Colum G&E (.208)_. 281 Col Pict vte (1a) 56% Comcl Credit (4) 100 Comcl Cred pf 4% __ 63Y% Comcl Invest Tr(4). Comcl Solv (.60) ___ Comwlth & Sou_ Com & Sou pf (8) . Congoleum-Na (2)_. Congress CEr (2e)_. Consol Aircraft____ Consol Cigar.._ 8315 Con Cig p pt ww 634 79 Consol Cigar pf(7)- 31% Consol Edi (1.508) _. 991, Consol Edis nf (5)_. 9% Cons Laundries __ 141 Consol Ol (.80a) 4!2 Consol RR Cuba p 8 Consol Textile 81x Consol Coal 33 Consol Coal pf 20% Container (1.20) 18!a Contl Baking A 2 17 24 16% 181 Contl Diam Fib(l:) 35% Contl Ins (1.60a) 2 Contl Motor 39% Contl Oil(Del)1%g. 25 Contl Stl (%g) - 62% Corn Exchange (3). 54% Corn Prod (3) 6 Coty._. . 40 Crane Co._ 100% Crane Co cv p: 1814 Crossley Radio... 68 Crown Cork (2)____ 39 Cro'n C'k pf xw 2% 16% Crown Zeller . 941 Crown Zeller pf (5). 51 Crucible Steel . __. 5 Crucible St pf 5%k 7% Cuban-Am Sugar ... 1097 Cub-Am S pf (10k)- 83 Curtis Pub 71 Curtis Pub pf (7) 5 Curtiss-Wright 1615 Curtiss-Wright A~ 474 Cushmanpf_ 731 Cutler-Ham (1g) 1274 Davega Stores (1a). 99% Dayton PAL pf 4% 104% Deere & Co (1&) - . 25% Deere & Co pf(1.40). 17% Deigel-Wem-G (1) . 33 Del&Hud. ... 13% Del Lack & W. pt. 2 o o S O O0WE TN S0 1475 108 1134 1123 18 8% ® 85% 9% 38 10'(‘/4 15‘ 64 11 3 ua 113 2 1% 127 % 9% 112 1013 % 6 19% AT ke 15% 102% 135 llll 102% 6 136% 3 2T% 27% 2 20% 20% ¢ 374 36% L+ T44+4 00+ FEl+1 +I:_'HHH| & H 2% 5614 38% 15 23% 11% 85% T9% 384 IDJ\« 16 6% * 9 37 297 23% 3% B56% + 19% + 39 sxeeles FrEr+10++100 + + 2% 48Y% — % 29% . 62% — % 66 +2% 60% +1% 113 +1 1% + % 127 -2% M- 4% 1z -1 10% + % T4 6 19% + % 4T 7% 15% — % 102% — % 136% +1% 27% 20% - % 36% T 16% 15% 15% — ¥ 159% 115% Dow Chem (2.60g)_x 391 315 122 1804 14% Diam T Mot (%g) 20% Dist Corp-Seag. 84 Dixie-Vor A (2%) 8814 Dome Mines (2a) - 47% Douglas Afrcraft_ 2415 Dresser B (le) . 1% Duluth SS&Atl pf 112 Duplan Silk pf (8) . 148% Du Pont de N(2%g) 115% 110% Duquesne 1st pf(5). 30s 17 181% 3% 16 29 45% 16 T% 26% 87 924 441 178, 91, 23% 35% 1414 28 0% 11% 1135 6 43y 457 41% 1073 52, 46% 9 58 128 5414 135 108 115% 15% 67 52 12045 308, 4315 28 475 144 137 1314 331x 13% 64y 281y 91y 189 116 1674 15% 183 107 2613 30 156 136 4313 21% 9 15% 8313 61 267 85% 110 3% 5% 10% 43% 28% 41% 36 24'% 106% 42% 42 16% 4T% 19 624 9% Fastern Roll 1561 Eastman Kodak (8) 29% Eaton Mfg (1%g)_-x 10% Eitingon Sch_____ 21% EI Paso N Gs(1.60). 34% Elec Auto Lt 1.40g. 9% Elec Boat. 41 Elec & Mus (.18¢) 1414 Elec Pow & Lt 5813 Elec P & L $6 pf_ 62 ElecP&Lpf_ 3214 Elec Stor Bat (2)_ 8 Eng Public Servic 4% Equit Off Bldg. 131 ErieR R 19'% Erfe 1st pf_ T% Eureka Vacuum Cl. 20% Fairbankspf_ _____. 49'5 Fairbanks Mrse(la) 6% Federal Motor_ 5% Federal Screw 3 Federal Wat Sve A. 31% Federat D St (13,g) 36 Fid Phoenix(1.60a). 31 Firestone (13g) - 101% Firest A&R pf (6) 3915 First Nat Strs(21). 2614 Flintkote (1) . ____. 4% Follanshee Bro 4715 Food Machine (1a) 108 * Food Mach pf (413) 3715 Foster Wheeler _ 100 Foster-Wheeler pf . Francisco Sugar __ reeport Sul (1g) .. Fuller Co pr pf Fuller 2d pf Gair (Robert)_ Gamewell r Wood Ind (% g) n Am Inv n Am Trns(115g) n Baking (.60) n Bronze Gen Cable : Gen Cable A Gen Mills pf (6) 4 Gen Motors (1%g)_ Gen Out Adv _ Gen Print Ink (.308) Gen Pub Sve Gen Ry Signal (1) Gen Real & Util Gen Refract (2h)_ Gen Stl Cast pt Gen Thea Eq (%g) - Gillette (15g) . Gillette pf (5)_ & Gimbel Bros ___ Glidden Co (2a) 3lidden cv pf (2%)- Gobel Adolf 2 Goebel Brew (.20a)- zh) anite Cit Stl (1) ant (WT) (1.40a) ireat Nor Ry pf _ Grt Nor Ore ct(% &) Grt Wst Sug(2.40a) 744 Green (HL) (1.60a) Greyhound (.80) __ Guantanamo Sug Hack W pf A (1%) Hamilton W (1.25%) Hamil Wath pf (6)_ Hazel-Atlas Gl(5a). Hecker Prod (.60a) Hershey Choc (3) -_ Holland F (1g) Holland F pf (5) Hollander (1) __ Holly (2%R) Homestake (. Houd-Her B (113) - Househld Fin pf(5). Houston Ol Howe Sound (3a 2% Hudson & Man « Hudson Motor. Hupp Motor_. Tllinois Central . Illinois Cent pf A _ Indust Rayon (2) - Ingersol Rand (3g)_ Ingersoll R pf () _ Inland Steel (4a) __ 17% Inspiration Copper. 573 Inter Rap Tran (r). 41 Interchem Corp(2). 16% Interlake Iron._. 5 Intl Agricul_ 146'5 Intl Bus Mach (6a). 9914 Intl Harvestr (213). & Intl Hydro-Elec A. 615 Int Mer Marine .___. 10 Intl Mining (.30g) . 55% Intl Nickel Can(1g) 1613 Intl Paper & Pw A _. 10% Intl Paper & Pw B_. 5% Intl Paper & Pw C . 90% Intl Paper & Pw pf_ 5% Intl Ry Cent Am___ 43'2 Int Ry Cent Am pf_. 9% Intl Tel & Tel 20 Interst Dep S 2% g.. 100 Interst Dept pf (7). 17 Intertype (.30g) __. 254 Island Crk Coal (2). 120 Johns-Manville (3). 117% Jones & L pf (312k) 25 XKaufm'n Dep 1.30g. 12% Kelsey-Hayes A 51 Kennecott (28) 5 Kinney (G R).. 31% Kinney pr pf. 44 Kinney (GR) ot 84 Kresge Dep Store: 20% Kresge (S8) .90g _ 18 Krozer Groc (1.60) . 1814 Lambert (2). 32 Lehigh Port C (1) 1% Lehigh Valley Coal. 8% Lehigh Val Coal pf_ 13 Lehigh Valley R R_ 36 Lehman Corp.(1a)_. 14% Lehn & Fink (1%) _. 5814 Lib-Ow-Glass (3g)~ 9% Libby McN & Lib_. 59 Lima Loco 51! Link Belt (2) 25% Liquid Carb nq 6413 Loew's (2a) ___ 105 Loew'spf (6%)-. 25%; 103 100 114 B8 3515 10115 21 29 4Tl 18 BRIy 12ty 5% Long-Bell A_ 28Y% Loose-Wil Bis (2) 20 Lorillard (P) (1.20) 29% Luldum Steel (1)_.. 2314 McCall (2)_ 14% McCrory Strs - 82 McCrory St pf (6) 32% Mclntyre Pore (2) 3114 McKeesport T (2)- 12% McKesson & Rob 42% McKess & R pf ( 12% McLellan Strs(‘.g) 40% Mack Trucks (1).. 44 Macy (RH) (2a). 10'% Mad Sq Gar (1.15g). 3% Manati Sugar (r)._. 4% Manati ctfs (r) 14 Manati Sug pf (r) 3% Maracaibo Oil 9% Marine Midl 89 Marlin Rock (2) 18% Marshal Field_. 19% Martin (Glen) __.. 32% Math Alkali (11/.)__ 51% May Dept Strs (3a). 25 Mead Corp (%g) 93% Mead Corp pf (6) 9% Mengel __ 82 Merch&Min (1.60) 58 Mesta Mach (2%g)- 14% Miami Copper._.__ % 25% Mid-Cont Pet (%g). 122 106 120 124 16% 6% 4 9% 345 12% 4074 108 Midland Stl1pf(3). 94 Milw E1Ry pf (6) - 96 Minn-Hon Reg (3)_. 108 Minn-Hon pf B(4) . 11 Minn-Mol Imp_____ 2% Minn StP&SSm LL. 237 Mission Corp (1g) 513 Mo-Kan-Texas Mo-Kan-Tex pt Mo Pacific pt (r Mohawk Crp(1.20a) Monsanto Clr 1% & Montgom Ward(2a) Morris & Esx (3%)- % Mother Lode____ 27% Motor Prod (1%g) - 17% Motor Wheel (1.60 13% Mullins Mfg B 22% Munsingw'r (l%sL 10% Burray Corp-——--—. » N ANA NN NNARBA S TALNAN O D0 AR ~Sarmaa 102 % 15% 40 114% 158% 112 124% 179% 34, 124 2314 3% -’N‘. 32 0 8414 106% 2 b4y 674 283% 21% 85 2214 17% 88 344 361 13% 62% 55° 1% 34y 21 13 19% 12% 16% — EEES FEFEITS 9 160% + 112 12% + 180 34y — 124 - 23% 384 + 104 — 4% FFE OEFEEFS +2 % +1% 1+ 391 32% 103 |+|++ + P+ 1+ F FTERSE §FF 128% +2% 284 | FEFTEFS FF EEFFS 102 + ¥ 63% + % 56 4 1 22% Natl Blscuit (1. 24 167 145 Natl Biscultpf (1) 1 29% Natl Cash Reg(%g) 2 1814 Natl Dairy P (1.20). 17 15 Natl Dept Strs._ 6!4 Natl Dept Strs pf. 27% Natl Distill (2 12 Natl Gypsum 30% Natl Lead (14)_ 44 Nat Mal&Stl C(1g 8% Natl Pw & Lt (.60) 70 Natl Steel (1%g) 313 Natl Supply_ 121% Natl Sup pf (1%k)- Natomas (:80) __ Newport Ind (1%g) N Y Central _ 4 1 10 130 1314 41% 5% 3174 25% 2 N Y Investors (r)_. NYNH&H (r) YNH&HDS (r). Y Ont & West (r) Y Shipblde____ N Y Steam $7 pf_. Norfolk Sou (r) North Am Aviat._. North Am (.60g) .. 4 North Am pf (3)_. 7 Northern Pacific. Northwest Tel (3 Norwalk T& R Norwalk Tire pf_ Ohio Ofl (1;38) Oliver Farm Omnibus _ Otis St11st pf 515 __ % Owens-1LGlL 13,7 17 Pac Am Fish (1.20). 6% Pac Coast 281 Tac Lighting (3) Pac Tel & Tel (%) Tac West Oil (.6ie). Packard Mot (.15g). Pan-Am Petrolm Panhandle P&R (r) Panhandle pf (r)___ Paramount Pict Paramount 2 pf(.60} Tark Utah Tarke Davist1.40g). Parker Rust-I'r 113. Parmelee Trans Pathe F Patino M Peerless C Penick & Ford (1g). Penney (JC) (28) . Penn Coal & Coke _. Penn R R (1:8) - - Peoples Gas LU & C. Pere Marquette ___. Petro Corp (40g) Pleiffer Brew (.60g) Phelps Dodge 1% & Phila Co pf(6)new . Philip Moris(3%&). Phillips Jones Phillips Pet (2 Phoenix Hosiery Pierce Oil pf Tills Flour (1.60) Pirelli (1.68%g) Titts Serew (.30 Titts Steel pt Pitis Term Coal Pitts Term Coal pf Pitts United . ____ Pitts & W Va Plymouth Oil(.708) Poor & Co B Postal T & C pf (r) - Procter & Gam (2a) 2 Procter & G pf (5) . 523, Pub Sve N J (2.60) 1121 99% Pub SN T §5 pf (5)_ 12815 113% Pub Sve N J pf (6) 72ty 51% Pullman (133) .- 24% 16% Pure Oil___ 23% Purity Bak (:308)__ Radio Corp . _ Radio cv pf (313) _. Radio-Keith-0 (r)_ Reliable Strs (1) __ Reliance Mf (.60a)_ Rem Rand (1.05g) _ Rem R pf ww (413). Reo Motor .________ Republic Steel ___ Rep Stlev pf (3k) _ Republic St pf A(6) Reynolds Met (1) Rey Met rts Augl2. eynolds Spr (1) nolds Tob B (3) tuberoid (.60) Safeway Strs (2 Safeway 7% pf (7). St Joseph Lead(2a) Mo e - - 2T ammBeR S onalaaonal 6513 118'3 © - 9 Schenley pf (512) - Schulte Ret (r) ... Schulte Ret pf E Scott Paper (1.058)_ - R . 82 [SISTSE SIS TP UL S o PR RO P E L R ST 1" eaboard A L pf (r) % Seaboard Oil (1)___. Sears Roeb (3) _ Servel Corp (1a) Sharon Steel (1.20). Sharp & Dohme ___ hattuck FG (.60)_ hell Union (328) -~ Shell Un pf (5'2) Silver King (.65g Simmons (1g) -~ Skelly Oil (.50g) niger Pack (1}:8)_ cony-Vac (%) - u Am G&P (.10g) = 2 Sou Cal Edis (112a) Sou Pacific = Southern Ry 6% 60 Spalding 18t pt 4 Sparks With_ 9 31 l7h Spear & Co .. NEW ISSUES RISE TO IMPOSING LEVEL Common and Preferred Stock Total for Half Year at New Peak Under S. E. C. By the Associated Press. ° New issues of common and preferred stocks registered with the Securities Commission in the first six months of 1937 totaled $1,178,172,197, the largest figure for any half yesr since Federal supervision of securities began in 1933. Market uncertainties since the lat- ter part of March, however, hindered new issues of bonds and debentures. The expected proceeds of all securi- ties for which registration was com- pleted in the first half of 1937 were estimated at $2,286,506,000, the com- mission reported. This was 15 per cent less than in the same period last year, but about three times the amount in the first half of 1935. The commission estimated $391,- 451,000 of the proceeds was earmarked as ‘new money” to be used for ex- pansion of plants, equipment, in- ventories and working capital. This was the largest ‘new money” figure for any half year since 1933 and was called a recovery symptom. In the last few years new securities were issued primarily for refinancing of old obligations, CURB PERMITS PLACING OF ELSEWHERE ORDERS By the Associated Press. NEW YORK, July 30.—New York Curb Exchange members will be per- mitted to execute elsewhere orders in securities listed on the exchange, if directed to do s0 by customers or if a better price is obtainable off the ex- change, a new amendment to the trad- ing rules started today. The amendment provides, however, that a member who makes a bid or offer off the exchange for an issue listed there, must place a similar bid or offer on the floor of the exchange. ~ / 23%, 152 3415 2074 18% T4 29% 13% 3814 524 114 89% 36% St G&E TEF OFF Tide-V Un ¥ TUnit-C .". Unit ¢ 1137 243, 347y 137 1 172 156 2315 @ 102% Un 15 28 151 224 T2% 195, 10 44 18 10% 187 19% 31 2 100"y i 114 538 20% 14 9 674 R 20 171 254 F 111, 247 841y 1% 5l 11ty 33% 26l 34 41 18% . 3T 13 99 Ph+4 0040441 (RN Young 491 Sl 581y 214 21% 11:00 AL 1:00 P.M.. bankruptcy act. x Ex dividend. last year. year. clared this year. Std GEE 36 prpf(r). 4 Stand Brands (.80)_ Stand Com Tob____. 4 Stand Gas & El (r)_ Stand G & E pf (r)_. 7% P pL(r) . tand Oil Calif (1a) tand Ofl tand Ol N J (1a) . terling Prod (3.80). ewart-Warn(%a) Stone & Web Studebaker _ un Oil pf (6) Sunshine Mng (3) _ Superheater ( Superior Oil 2 Superior Steel ____ utherland P(1.60). vift & Co (1.20)_ vift Intl (2)_____ ‘mington ww .35g. mington xw .35g . Tenn Corp (%) Texas Gulf Prod ._. 33"‘. Tex Gulf Sul (2a) 42% Tex & Pac Ry _ Tex Pac Land Tr_ Thatcher (12g)_. The Fair pf (7)_ Thermoid .. _ . Thompson Pr (. 90g) Thompson-Star Tide-Wat As (.33g). Timken-Det Ax(2e) Timken Roll B (3) .. 5 Transamerica (14) Trans & West Alr Tri-Cont Corp (34 ) 20th Cent-Fox (1g)- Twin City R T 'a Twin Coach (.30g) Underwogd (%) < ) Un Pacific pf (4) Un Tank Car (1.60)_ Unit Aircraft (12g). Unit Air Lines’ _ Unit Biscuit (1.60)_ UnitCa rr Fast (2). Unit Corp Gas Imp pf(5). U'S & Forelgn § 15% U S Freight (1% 12 US Gypsum (2) U S Gypsum pf (7). 15% U S Hoffman Mach . U S Indus Alco 6% U S Leather 13% US Leather A- 4413 US Pipe (3) U S Realty & Imp_ U S Rubber 8113 U S Rubber 1st pe_ Steel eel r\f (1) Unit Stock Unit Stores Univ Pictures 1st pt 208 UUIP &Lt A (r)- 5 aalte (175g) ro Chem VaEl& Pwr pf(6) Va Iron Coal &C pf. Wabash Ry (r) 2 Wabash pf A (r) 1 Waldort Sys (1 1 Walgreen (2) 1 Walgreen pf ww4'; 1 Walworth_________ 8 Ward Baking B 1 Warner Bros Pict__ 25 Warren Fdy &P(2a) 2 Waukesha Mot (1a) 2 Wayne Pump (1% 2 Wehster F 2 3 Wesson () 3 6 W Penn West Penn El pf(6) W Pen E1 7% pf (7) WrhennP 6% West Auto Weston El Westvaco Chl (1) Wheeling Stl Wheel Stl pf White Motor White Sew Mach White Sew M pf__ & Wilcox Oil & Gas Wilson & Co (3z)_ Woolworth ( Worthington Pump Worthington pf A__ Wor P&M pf B stp .. Wrigley Jr (3a) Yale & Towne (.60). Yellow Truck. Total Sales for the day, + sUnit of trading 10 shares. T1In bankruptcy or rceivership, or being reorganized under or securities assumed by such compantes. Rates of dividends in the foregoing table are annual dis- bursements based on the last quarterly or semi-annual declara- Uniess otherwise noted. special or exira dividends are not xr Ex rights, {Pavable in stock. h Cash or stock, 20 nd (1a)._. 8) - AsDf (415). on (4) 1008 208 )- 908 208 1208 DR) 408 up 1.60 6 23k 40) | brokers partiy to the wage-h | Pacific, | Ward, Woolworth, | Boeing. Douglas Aircraft and United == AT END OF SESSION Advance of Steels Holds Spotlight—Late Selling Reduces Gains. Stock Averages 15 80 xnm.; Ra 5. Uil Btie, Net change + 4 2 +.3 Today, noon 96.7 day... 96.3 393 391 382 39.1 495 36.1 435 443 440 409 52.0 540 39.1 537 fiQfl 68.7 65.1 67.7 5.3 626 7238 302 434 557 5 87 239 169 146.9153.9 184.3157.7 516 953 618 618 1932 low_ 1929 high 1927 low. (Compiled by the Associated Prass) BY VICTOR EUBANK, Associated Press Financiai Writer, NEW YORK, July 30-—Climbing steel favorites held the spotlight in today's stock market While volume was extremely light, gains of fractions to 2 points were vell distributed the greater part of the session. There were a few wider swings. Profit selling in the final hour cut extreme advances in manv instances and there were a number of iosers at the finish ‘The steel rally followed Bethlehem's announcement after the close vester- day of the best earnings in sevon years and a hoosted dividend Earnings of other companies. on the whole, were interpreted as constructiv but there were several among the day’s statements Trading apathy was attributed by legsa lation battle in Congress and fur doubts of nearby adjournment. It was also thought the Far Eastern disturbe ance was a factor, if only a minor one, A handful of utilities. farm imples ments, oils, coppers and specialties were in fair demand Transfers were shares. Among the best stock performers were Bethlehem, Wheeling Steel. Na- tional Steel, Electric Power & Light, | American Water Works, American & Foreign Power, Case, International Harvester, Deere, Tidewater Ofl, Pt Oil. Socony Vacuum, Anaconda. Ken- necott, St. Joseph Lead, National Lead. Southern Railway, Northern Flintkote. Columbia Gas, Locomotive, Montgomery Allied Chemical, excep! around 650,000 American Aircraft. United States back at the last About unchanged to off a point or so were Yellow Truck, Goodyvear, United States Rubber, Sears-Roe- buck. American Telephone, Western Union, Consolidated Edison, Ameri- can Can, New York Central, Great Northern, Chesapeake & Ohio, Loew's and Cerro de Pasco. Among issues failing to keep very far ahead were Inland Steel. Repub- {ic. Youngstown Sheet & Tube, Gen- eral Electric, General Motors and Paramount. Steel fell NEW YORK COTTON e Associated Pre: NE\‘V YORK, July 30.—After {urther w lows had been registered in cotton - under active foreign selling, prices turned steadier on trade Quying and covering Later fluctuations were &omewhat | irregular, with the market easily influ- enced, while business tapered off and the trade awaited additional private crop estimates. December recovered from 10.71 to 10.87 and in midafternoon was selling at 1079, when prices generally w net unchanged to 5 points higher. Futures closed steady, 1 lower pring (3) Younsstn S&T 1728 Yngstn S&T pf 51, Zenith Ladm(l‘nm Zonite Prod. 5 6 5 + | Approximate Sales of Stocks on the N. Y. Stock Exchange, 100 36% 100 361, 180,000 390 000 12:00 Noon 2:00 P.M 620,000 460,000 8 Also extra or extras. e Paid € Declared or paid so far this k Accumulated dividend paid or de- Procter & Gamble Earnings Reach All-Time Record By the Associated Press. CINCINNATI, July 30.—The Proc- ter & Gamble Co.. celebrated today 100 years of business by issuing an annual statement showing earnings for the year ended June 30 to have been the greatest in its history. ! Net profits were $26,803,339, equal | to $4.07 a share of common stock, and compared with profit of $16,138.367, or $2.39, for the year ended June 30, 1936. President Richard R. Deupree said approximately $2,460,000 of the net profit was earned by foreign sub- sidiaries. For the fourth quarter of the fiscal year earnings were $5.245,083, as com- pared with $8.198,489 for the third quarter and $2,244,495 for the final 1936 quarter. TRANSAMERICA DELAYS SAN FRANCISCO LISTING By the Associated Press. SAN FRANCISCO, July 30.—Pros- pect of the loss of one-fourth of their stock trading activity faced members of the San Francisco Stock Exchange because no application has been made to list Transamerica Corp.’s new shares on the exchange. Traging in the new stock will be- gin Monday on the New York and Los Angeles exchanges. Heretofore, San Francisco has been the principal market for the shares of the world’s largest holding company. Failure to apply for listing here was connected with a rumored tiff between A. P. Glannini, founder and guiding genius of Transamerica, and Frank C. Shaughnessy, president of the ex- change. PITTSBURGH ISSUE OFFERED. NEW YORK, July 30 (#).—Halsey, Stuart & Co. has offered to yield 1.45 per cent an issue of $3,000,000 City of Pittsburgh 1.60 per cent registered notes, due July 1, 1940. [ n WOOL SALES RISE SHARPLY IN WEST Price Up 3 Cents and Sometimes 5 Cents Higher Than Those of Previous Week. By the Associated Press. BOSTON, July 30.—The Commer- cial Bulletin will say tomorrow: ““While the sales of wool in the East- ern seaboard markets have shown comparatively little change, there has| been a distinct increase in the quantity of wool purchased by the dealers in the Far West. “In Texas there has been a move- ment in the week of well up toward | five million pounds reported and in the Northwest, in Wyoming and Mon- tana, especially, several million pounds more have been sold. “Prices paid for these wools are 3, and sometimes 5 cents a pound higher, clean basis, than a week ago. ‘‘Meanwhile, the manufacturers,! spinners and topmakers are inclined | 3 to deplore these purchases as unjusti- fled from the point of view of the piece goods market, which is generally held to be slowing up on old erders and not receiving general attention yet on new-season goods. “Foreign markets are very firm on moderate activity. With the holiday season approaching in Yorkshire, there is a disposition to await the opening of the new season in Australia at the end of August. “Mohair is firm on moderate in- quiry.” BROKERS’ LéANS DROP MILLION DURING WEEK By the Assoclated Press. The Federal Reserve Board reported’ that last week’s loans to brokers and dealers on securities held by reporting member banks in New York City totaled $1,141,000,000. The total for the week ended yesterday represented a decrease of $1,000,000 when com- High Spot steady: Bleachable cottonseed oil futures closed easy. 10 to 12 lower. Sales, 236 contracts, including 20 switches. Sep- tember, 8.36b: October, 8.60b; Decem- ber, 8.61; January, 8.63; March, 8.64b. b—Bid. New Orleans Prices. NEW ORLEA a0 foreizn marke! al liquidation and short selling on the continued fav able weather in_the belt caused an open- of § to 1} pomts in cotton P —Lower ;nm made new n 1035 Janu 16.90. May Wt the start a rood demand wa ed and most of the early decline overed. with active positions Ing to Within 1 to 4 points of the previous close toward the end of the first haif hour Cottonseed o1l ber x4b R.20b: Ja b—B!| ovened_steady 8 20, : March. Septe cemb: 8.25b. CHICAGO GRAIN By the Associated Press. CHICAGO, July 30.—Downward plunges of corn prices late today took the Chicago market to within 14 cent of the furthest permissible immediate limit, 4 cents a bushel. At Kansas City the full limit of 4 cents was reached by corn. Farmers { were reported as widely using low- grade wheat to feed as a substitute for corn. At the close, corn was 1 cent to 374 under yesterday's finish, September, 9073-91'5; December, 68,-69. Wheat, z-114 advanced; September, 1.18'«- 1.18;: December, 1.19':-1.19%, and oats, !4 off to 'x up. WHEAT— Open. High. Low Close 181 Chicago Cash Warket. Cash wheat, No. 2, red, 1.21'4-23; No. 1. hard, 1.26. Corn, No. 2, yellow, 99- 1.01. Oats No. 1, mixed, 30-30';; No. 1, white, 303-31'5. Rye, No. 2, 85-87. Barley feed, 50-60, nominal; malting, 60-82, nominal; timothy seed, new, 2.90-3.00 hundredv\e!ght pared with the previous week. Loans for the corresponding week a year ago totaled $938,000,000. Baltimore Quotations. BALTIMORE. " 0 (#).—Wheat. Na. 2 BRATRIRET TS, et domestic 1 July, 1.20%.