Evening Star Newspaper, August 1, 1937, Page 64

FINANCIAL. TOBACCO AVERAGE FIRM IN GEORGIA Reaches 25-26 Cents a Pound in Opening Week—About Fifth of Crop Sold. By the Associated Press. VALDOSTA, Ga., July 31.—Tobacco growers of the Georgia-Florida bright leaf belt sold approximately a fifth of the predicted 1937 yield at opening- week auctions that established an aver- age price of 25-26 cents a pound. The market closed firm for the week yesterday after two days of brisk sales. Unofficial total poundage was reported at about seven million a day. The Agricultural Economics Bureau of Washington said opening prices “were about as expected” and reported principal offerings consisted of good- to-choice-quality primings and low-to- fair-quality cutters “Prices appeared to be satisfactory to growers and there were but few re- Jections,” the bureau announced. The opening compared in average price with last year's first-week figure of slightly over 25 cents a pound. Share Turnover Tops June Level, Lags Below 19 By the Associated Press NEW YORK, July 31—Share turn- over on the New York Stock Exchange in July totaled 21,264.520, compared with 16.449.193 in June and 34,793, 159 in July last year. The latest aggregate was the high- est since April, when 34,606,839 shares changed hands. Volume of bond transactions dropped to the smallest for any month since November, 1932 July turnover was $162,583.700 face value, com- pared with $178.898,000 in the previ- ous month and $282.571,000 in July, 1836. The November, 1932, total was $159,419,000. MICHIGAN STEEL TUBE REPORTS $312,679 NET Epecial Dispateh 10 Tre Star. NEW YORK, July 31—Report of Michigan Steel Tube Products Co. for the six months ended June 30, sub- jact to vear-end adjustment, shows net profit of $312679.69 after depre- ciation, interest, Federal income taxes, etc., but before provision for Federal €urtax on undistributed profits, equal to $1.56 a share, par $2.50, on 200.000 ghares of common st now out- standing. Charles E. Miller, president, directors had not as yet reached a | decision as to the amount of profits they deemed necessary to be ret in the business for the company's re- quirements and that therefore no re- serve had as ve: been made - the Federal surtax on undis said JUMP SEEN IN SALES OF OFFICE FURNITURE By the Associated Press, The Census Bureau says new orders for steel office furniture, shelving and lockers totaled $2.324.680 during June, compared with $1,915.556 in May and 81,565,183 in June a year ago. For the first six months of this year orders totaled $14.153,518, compared with | $9.374.168 In the corresponding period of 1936. WOOL TOP FUTURES YORK July 31 #® — Wool NEW top fu- tures closed quiei, unrhmud o 10 Jow ve Hig Laci 11206 11706 REGISTRATION STATEMENTS. | Registration statements 1, new se- eurities filed yesterday w ment and eqalpment and Underwriter. Gassman & Co. Commodity Price Changes for Week BY A. A. PATTON, Associated Press Statistician. NEW YORK, July 31.—Weather | conditions were a potent factor in ooosting live stock prices to the high- eet level in a decade this week and 2qually responsible for a slump in &rains to a new low for the year. 8taples generally were easy, indus- trial commodities standing with live stock in resisting the declining trend. The Associated Press weighted wholesale price index of 35 important commodities dropped to 90.15 per cent of the 1926 average from 90.87 the previous week and compared with 79.17 8 year ago. Setbacks outweighed ad- vances two to one, The seemingly anomalous effect of weather on farm products revolved around the fact live stock quotations were skyrocketed by last year's dry- fess, while lower grains stemmed from favorable rainfall this Summer, Feed Boosted Sharply. ‘The 1936 drought. in other words, jumped the price of feed to extremely high levels and caused & heavy mar- keting of the animals last Winter and this Spring. This reduced the animal population on farms to such an ex- tent shipments to market were sharply curtailed in recent weeks. With de- mand continuing strong, prices have been marked up substantially. Hogs and lambs advanced during the week, while cattle was little changed at approximately the best level of the year. Agricultural staples, on the other hand, showed no signs of being defi- clent this year. Indeed, commodity experts have repeatedly lifted esti- mates of the probable harvest as the Spring drought scare was washed away by pattering raindrops. Corn, rye. oats and cotton all gave way before a sizable wave of selling. ‘Wheat was little changed. Steel Scrap Leads. ‘The upturn in industrial staples was led by steel scrap, which strengthened perceptibly after the strikes. Hides slso advanced on good demand, while rubber, turpentine and tin fell frac- tionally. Textiles weakened further, as an- alysts found little reduction being ef- fected in inventories that have accu- mulated during the period of slack de- mand just passed through. Cotton cloth and silk fell back, -while wool pushed ahead slightly. Foods were easier, eggs, cocoa and flour dipping and sugar moving up. ‘The index, with its components based on 1926 as 100, compared as follows: Previous Ye: az 7. 28 7340 8176 9241 66.24 68.00 + Ne' 188: low, [ * New 1087 hish, WEEK ENDING SATURDAY, JULY 31, By the Associated Press, 1937 High. Low. Stocks and Dividends. High. Low. 561y 42 Acme Wire vic ((28) _.x 52 47 6% 314 AeroSup Mfg B ___ 4 4 38 14% Agfa Ansco 28% 27 12 11 Ainsworth (%g)_. " % 2% Air Devices 3 Air Invest L AirIny war 67 Ala Power pf (7) 28 Allex & Fisher 19 Allied Intl Inv pf (1K) - 261 21 Allied Prod A (1%) 1775120 Alum Co Am 119% 111 Alumi Co pf (6) 17% 16% Alum Goodx (138) 15 7 Alum Ind (40) 140 983 Alum Ltd 181 120 Alum Lid pf (6) _ 82% 19 Am Airlines 3% 1% Am Beverage 75 62 Am Book (4) 24% 17% Am Box Bd (. 11 6% Am Capital (A) 1% % AmCapital (B) 5% Bl Am Centrifusa 4lly 30 AmC 5 P& 47 3D AmC P&l ww 8 S AMCP& LB (30g). 857% 268 Am Cyan B (.60) 5'a 4% Amllguities (108) Ay 1' Am & Fyn P war 24 17% Am Fork & I (1a) 48% 281\ Am Gax & Kl (1.40) 2106 Am G & Kl (6) 9%, Aw Gen 301c Am Geurral pf (2) 17 Am Hard Rub 20 A luvest (1) 160 24'% Aw Laundry Mch (80) 170 A L& T (1.204) 215 Am MIg (2g) 1 Am Maracaibo 40, Am Meter (11 g) 3% Am P& Ch(1lyg) 51 Am Seal Kap T Am Sup Power 204 A Sup P pf 88 Am Sup P 1 pf (6) x4 Am Thresd pf () B% 3 Auch Poxt I B By Any Wupp (.20g) 4274 26'; Apex Electric 1104 1010 Appal K1 pf (T) - 1 Arctur Rad Tube 610 Ark Nat Gax 6l Ark Nat Gak A __ B¢ ATk Nat Gaspf 10 Art Met Wk (.80) 513 Ashland O & R (.40) 1% ASG & . B ASG &K 21y ASG & K A 17 ARG & Kl pf & Axso Launof Am The At Cst Fish (35g) 47 Atlantic Coast L 18 Atlas Corp war 19 Atlas Plyowod (1%g) 1% Austin Silver M 51y Automat Prod 1% 7 Auto\ Mach (lgn) 118 68 Avery & Sonw _ 43 2214 Axtop Fis A 156 11475 Babeock & W (2g) 4% 1% Baldwin Bond rt (r) _ 14% 11 Baldwin Rub (13) 5 2% Bardstown Dis 8 3% Barium Sta St : 1 9% Bath lron W (6%f) ___. 4% 8 Beech Aire 8% 5 Ballanca Afre ____ 185 11 Rell Airc 5 »113% Rell Tel Papf (613) ___ Rerk & Gay Furn & Berk & Gay Furn war__. Rickfords (1 Bickfords pf ( F &M (k) - Rliss & Laugh (2) Rlue Ridee (.15g) 421, Biue Ridge cv pf (3h) 14 Blumenthal (S) 4% Bourjoix 261% Bower R Rear (1g) 1% Bowm Bilt H x Bowman Bilt H 2d pf 181, Braz T & L. (.80g) X3, Breeze Corp 4% Brewster Aero 16 Bridgpt Mach (128 6% Brill A _ 2% Brill B ___ 4612 Brill pf 221 Br A Oil epn (.90g) - 44 Brown Copf 11 BrownF & W (.40g) 25'; Brown F & W A (2) _ 613 Brown F Dist 15 Bruce Co (K L) 45% Buckeye P L (3g) R 2215 Buf N & K P pf (1.60) _ 3 Buf N& EP1pf (i) 24 Bunk Hill& S (115) _ 4 Burma Ltd (162g) 4% Burry Biscuit (l¢g) __. & Cab El Prod vie L Cab& Wire B __ T8 Can Hydro El pt Bix CanInd Ale A ihSyn (lzg) irman (A) 1K Carman B 26 Curnation (1) 1% Carnegie Met Carter (J W) (40g) Casco Prod (2%g) - Custle (A M) (2) T Celluloid 39% Celluloid pf 9315 Cellulold T8t pf (2k) 147 Cen Hud G & E (.80) 82 Cen P& L pf (4.8174k)_. 214 Cen & Sw Ut 1 CenStEl 10% Cent States Elec cv pf - 11 Cen St 10 Cen St 281 Cent StE 43x Centrif i (40) 711 Cherry Burrell (4) 110% Chesehro (4a) 14 Chi Riv & Mach (.308). %% Chief Cons 70 Childs pf 265 Cities Service 39 Cities Service pf 813 Cities Service pf (B) 38 Cities Servicepf BB __ 40 CitiesSve P& 1,36 pf 50 CitiexSve P& LUSTpf . T8% Clty Auto Stp (.30g) 3 Claud 10 1 3 = 4 Cliuchfield Conl 1 Club Al Uten ______ $14 Colon Develop 45 Colon Development (A) 31y Colon Devel cv pf 11% Colo Fuel & 1 war 56 Coltx Pat ¥ (1348) _ 62 Colum G & K pf (5) H% Colum O & G 29 Columb Pictures (.80) 104 Comwlith Kd (5) & Comwlth & So war__ 1 Comwiths Distrib 32 Com P& L1pr 24 Comm Pub Sve (1a) _ 143 Comp Sh Mch vie (1) 5 Conx Bixe (.60) 7% Conx Cop Min 915 64 Conx GXE (Balto) 3.60 . 114% 112'% Con G & 4 1% Cons Gas Util 2 1 Cor sUt war _ 100 781 Consol Min&Sm (1. 50[) 104 615 Cous Ret Stra _ 96 Cons Ret Stra pf (8) 213 Cons Royalty (.20) 6 Cons Steel Corp . 85 Cont G & E pr pt (1) &% Cont Oil Mex 16% Cont Roll & Stl___ 4 55' Cook Paint & Var pf(&). 20 Cooper-Bess __ 10 Copper Range _ 27 Copperweld Stl (2)_ 2 Cord Corp = 4% Corroon & Rey 86 Corroon & Rey pf A 3k 4% Cosden Petro 28 Cosden Petro pf_ 28'5 Creole Pet (%g) 12 Crocker Wh % Croft Brewing_ 1% Crown C Pet 12% Crown Cork Intl (A) 2% Crown Drug 19% Crown Drug pf (1.7 4 Crystal Oil Refining pf. & Cusl Mex __ 111 Darby Pet (1) 19% Dayton Rub _ Dayton Rub (A) (3k) 10% Dejay Stores (.80) 60 Dennison Mfg 1 pt. 5% Derby Ofl - 76 Derby Oil pf (2k)_ 15% Detroit Gasket (1) 151 88"y 4% 18 123 1815 2% 92'y 51y 60 A THE SUNDAY STAR, WASHINGTON, 1937, 14+ +31++ $IRSS WEL FESAL t+++1 +1 =5 123 T 1% 21y . Low. Stocks and Dividend: b'3 Det Paper Prd (%) tav, Dat Stl Prod (% &) _ Diamond Shoe (2) Diveo Twin Truck(.40) Dom St & Coal Dauglas Shoe pf _ Draper Cp (2.40a) Driver: Dubilier ¢ Duke Pwr (2g) Dure Tw Trk (.40) Duval Tex gle Pitcher La( 300) “ pf (3) G & Fprpf (41y) Kust Mull Iron USta Corp & st Wash M B (14g) Br Strs ler Kle Bond & Sh KL B & Shpf () Hud & Shopf (6) El Pow Ax (.15g) I P& 1 2a BrATE Klect Share Blectrographic (1) pire Dist Klec pf mp G & K 8% pf Sp Gas & Fuel 7% Smseo D & 1 (1) 3 deh rt % Wallower S Wallower pf “1-0 Cp (A0g) Wil Ay <Al Brew Fedders Mg (13K) Kerro lnam (%g) _ Fidalio Brew Fst Nat SULpf (7) Fisk Rub lorida P & 1.4 $7 pt A M Can A (1) A M Can B (1) Ford M Lt (.213g) Frankl Ruy Froedt G (1.20g) Froedtert cevpl1.2o Fruehauf Trailer .30g _ amewell pt (1K) Gen Alloys Gen Blec 1t (643k) Fire Invest Tel ('53g) T & Rub T&RDIA(6) Gen Wat G & K (80) __ Georg Pow pf (6) Gilbert (A C) Gilbert (A C) pf (31g) _ fodchaux S A oldfield Con orham Ine (A) am Mfg vie (2.25g) nd Nat Filme rand Rap V (1).__ Gray Tel PS (1) GtAt& Puv (hia) t Nor Pap (1a) __ reen T & 1 Str Prod Guard Tny Gulf Ol ( Gu Sta Ut Gulf States '« Hall Lamp (.20g) Harvard Brew 5 Hat Corp Am (B) (.60) Hazeltine Corp (1 He'rn D Strs (1.65g) Hecla Min (.4 Hewite Rub ¢ Hevden Chem ( Hoe () & Co A Holling Gold ( 65a) Holophane (1.20g) Holt (Harry) & Co (A) Horn (A ) Horn & Hard (2) Horn & Hardart pf (5) Hud Bay M & S (3,g) Humble Ol (114) Hummel Ross F (_40g) x 11 n Hussman Lig (1) Hydro El Se (.20g) Hyerade Fd 111 Towa Pow 11 Towa Pow div et 111 Towa Pow pf linoix Zine (.25g) Imp Che Tmp Oil Can (12a) £ Tmp Oil of Can reg 1, Imp Th Brit (.845g) Ind Ter 111 A Indian Ter Tllum (B) Ind Pipe T, (.30g) Indiana Servi Indiana Servi Indnpls P&LE e (61,) . Indus Finan vie Indus Finan pf Ins Co N Am (2a) Int Holding Int Hyd-El pf Internat Pet (1%a)_ Inter Prod Inter Radio ( u,g) # Inter S Raz B Tnte Inter Util B Inter Ut war new Inter Vitamin (14) Inters Home K (.44) _ Inters Hox (215) Inters Pw Del pf w Invest Rovaloy (.06a) _ 3 Tron Fire vie (1.20) Irving Air Ch (1) Italian Superpower(A) Ttal Superp deb rt Jacobr Co (1ig) _ Jeannetie Gl Jer Cent nas & Jones & Lau Kingsherry Br Kingaton Pr (.40) Kirhy Pet Knott Corp (.20g) . Kruger Brew (1a)_ Take Sh M (4a) _ Takey Kdy & M __ Lefcourt Real Lefcourt Realty pf _ Lehigh C & N (.30) Leonard Oil Lion Ol (1a) _ Lit Brox o Locke St1 Ch (.80a) Lockheed Aire ) 5 D (515) tid pt (6) Tong Ix Lt Lone Is L pt ) long Is L. pf B (6)._ ¢ Loudon Pack Louir 1 & K Lucky Tiger T cBainiann pt_ Liynch Corp (3g) McCord Rad B Me Willma Dredg 1.25g Mujestic Rad & T~ Mangel Strs Maupes Cons ( Marion St Shov Mass Util Asso_ & Maswey Harrix Master Rlec (1)_ Mead John (3a) Memph N G (.10g) Merch&M(frs pte pf(2a). % Merritt-C & - Merritt-Chap-Sc wars__ Merritt-C & S pf A Mesabi Iron Mexico Ohio Oil_. Mich Bumper__ Michigan G &0 Mich Stl Tube (%) Michigan Sug - Mid St Pet A vte_ Mid St Pet B vic_. Midvale (2g) - Midwest Ofl (% &) Minn Min & M (.90g) Miss River Power pf(8) lu Mock J Voeh (.30g) ___ 13% Molybdenum 0 Monroe Loan Asso(.32). Montana-Drkota Util Montg Ward A (7) _ Montr LH& P (1%) 4 Moody In pt pf (3) Moore Cop (1.60) Moore (T) Din Mount City Cop Mount Prod (.60) Mount St T& T (8) Murray O M (.60g) Nachman Spring (1%)- 101's a) Nat Bellas Hess. Nat City Li (%) Nat City Lines ev pf(3). Nat Contnr (%g) 14% Nat Fuel G (1)-ccacena- 83% Nat Oll Prd (.808) e ’ 574 118 39 ax 1001, L] . Low. um cnl-. 41\4 —1% 23 Ll T+ ++1+4+4010 o U I B B ettt = ++14++1 1 B = Firsprcsx FEEFFEE D. C, AUGUST 1, 1937—PART FIVE - WEEKLY SUMMARY OF THE NEW YORK CURB MARKET 1037 Stocks and Dividends. Nat Pwr & Lt pf (6) at Rub Mch at Service Nat Service pf 5 24% 10% 1% 22% 1l . by 12 25 Nat Sug Ref (2) atTrans (45g) Un Rad avarro Oil (40a) _ (11) Pow Axxo 2 nx 1w AXDE (6) N H Clock (115) N J Zine (2a) ewmt Min (11;g) Y Auction 5 Y & H Ros (15 g) (v Omnibus war N Y Pwr & Ltpf (6) ) \ Shipbldg 1d ing Hud Pow Niug Hud A wa Niug Hud B wa Viag Hud 1 pf ( ¥ Hud 2 pf () ¢ Sh Md B (.15%) Nilex-Bem-P (1x) Nipissing Mns (% g) or Am Lt & Pow _____ or Am L& I’ pr NoAmer Bay A (150s) x No Am Rayon B (17.x) x Nor Europ Oil Nor [P S 6% pf (215k) Nov @ P ST pr 2% Nor Vipe 1L, « Nor SUPA Novadel-Ay (2) + Ohio Bras< B (11,%) Ohio Pub Sve pf A (1) Oils10cks (Aia) Olla Nut Gax ONls Nat Gax pf ¢ OKla Nut Gev pf () Oldriy Pav G & 33 Istpf (115) Pac Ligating pf (6) J ) & Pre Pubi Sve st pf 1.30 Puc Pan Pantepec il arker PPen (2) ¢ Parkersh's 1tig & 180 Plymouth M (1g) Pender Gr B Penin Tel (1.60) roud (1, e) W Power & Lt pf (6) Pa 'wr & 1t pf (1) alt (33,8) Penn Water & Pwr (4) Pepper 3 Perfec T'haris Tire & Hub(60) . Phila Co. 658) Phili-EL Co pf (5 Phila Elec P'wr pt (2) Phillips Pky Phoenix Sec (1a) Pierce Govern (30g) Pines Winterio Pioneer Gold (40) Pitney-Eowes (.40) Pitis Forg Pis& LK (41, g) Pitts Metall wk) e Dist < \a Plough (1.20) Prod C pper Mecall (r) Prosperity B Pruden Tny & Prodential Tnv pf (7) Pub Sve Colo pf (7) Pub Serv ind $6 pf Pub Serv Ind $7 prpf Pug SA P85 pf (610k) PN 100, ou 106 191y 39 6314 2615 20 S B Pyrene ( 109 Quaker Oats ( 125 Quaker ( 17 Quebec Pow (1) Rwy & Lt Sec (.3 Rainbow Lum A _ Rainbow Lum B m Cone (1a) avtheon Mfxg ted Bank Of Reed ol Rit (.80a) Rei Relianee K& 1 (1, evbarn Inc (L10g) Pevnolds Tny Stix DG (73g) hmond Rad io Grande V' G vie SR (6) el 1St pf(6) Rustiess 1 & 8 Ryan Cons Ryerson & H Safety Car H & Lt (4g) 12 St Anth Gold St Lawrence Lid Vill Mfg (1g) 2 on S B W S $6 pf ciberling Rub eIy Shoe 1 ected Indus A lected Ind cv (k) Lind (alct) (51y) niry S Con ston Leath versky Aire Shattuck Denn High. 6% 147 - x 301y 105 2014 4615 81y 8n Ko 1937 Hi Shaw W Solar M 4 Sou Cal puth 1 Spun & Std & and I St Pow Pow Pow urret win ( Sterchi Sterchi 6014 107 1% - 131y 30 10014 mray avlor enn K Tob Pr Todd Tol 1 Toledo Tonopa Transw Tri-Con Tubize Tubize Tung Tung nexce ‘nion ( Lt Pr t Pr Foi Pla 7 8 Sto " S Sto “niv Pi tah P “ility Utility I8 4 \al«; ™M Walker Wayne Wil-Lo Wilson Wright 80'2 “~ T In bankru the Bankruptey — | - -1 te: + i ct 1 | Birveenients Dast o %1 included x Ex dividend 4| extra or extras e Paid last year or paid so far this ye | k Accumulted " dividend pata or Xw Without_ warrants 1 % | N warrants. Stocks and Dividends. Sherwin-Wms (4a) t Pipe Line atpd nger Mfg (6a) Sonotone Soms MKk (14) 80 Coant (.308) So Penn OI1 (114 So ¢ Ed Bpf (112) Southld Ra Spencer § Stand Brew Stand ¢ Stand Invpf __~__ SLOILKy (1a) St Ofl Neb (%K) StOil Ohio (1) 4 St 011 Ohio pf (5) and Prod (%g) and Sil-1 (.02g) s % and Steel \[:rmxllg) x 33'. and Tube B Sterling Alum 1 Sterling Br (.1og) a Sterl Ine (2oa) elxon (1 B) . innex (1) 0ck & Co (2) utz Mot Am (r) Sullivan Mach Superior P Cem H Swan ¥ Swiss-Am echnicolor Tech-H G (.40a) Texas Pwr & Lt pf Texon Ol (.60) Thew Shovel ilo Roof (1) ishman Realty Gas Gas war Gas pf (7) Milk Prod (1158) . Molasses ((182g) __ Shipyds A Spec (1.40) & Int Sec Lines pf Radiator 8 Rubber Recl nited Stores vte nit Verde Ext(1g ‘nit Wall P (.15g) _ miv Corp vte ‘ticaG&Epf (7) _ “til Power & Lt (r)_ il P& Lopfr) .. Valspar Corp vie rpfvie Yan Nor M T (1.60) _. Venez Mex Oil Veneziel Pet 2 Virg Pub Sve pf (7)_ Wagner Bak (.80g) Weisbm B Br (.40a)_ Wevenb'g Sh (.20g) Wins 0il-0-Mat Wise P&L pf 1.3114k Wolverine Pt (‘em Woolworth Ltd Ygstn Steel Door .2.50g Yukon Gold (.06g) Rates of diviaends Nes. Olose. Chge, 29% +1% 133% + & 109 YW % Righ, Xc' 29% x 136 109 &P (.80) Wme pf (5) H&P 4 4 Pat (%g) - 11 302 B W W W 1 % h % 73 (.znx), + & i o ) IdllpfllBOn). +1 ipe (.20g) -n & 8 (1.60a) Scvpf (1.60). edg v pf & 1.t &L B & L pf = 5*. x 21 tCorp vie A) & o (.90g) Hr Str L Brox 1st pf (3) . S0g 94 37 11 61 S0g Oil (15g) inch il K Dixt (.30) P1sUpf (7) | Machinery Corp Sugar Deliveries Decline Slightly During First Half By the Associated Press. Total deliveries of sugar during the first half of the year, tne Farm Ad- ministration said yesterday, totaled 3,346,108 short tons, raw value This was slightly less than total de- liveries during the same period of 1936, which totaled 3,410,456 short tons. Bistribution of sugar in form of consumption during the January-June, 1937, period, was: By refiners, 2,128,- 801 short tons: by heet sugar face tories. 588.125 short tons; by importe ers, 368,238 short tons, and hy Conti- nental cane sugar mills, 67606 xhort tons. These deliveries, converted to raw value, give the total of 3,346,108 short tons. OLEOMARGARINE OUTPUT DROPS BELOW YEAR AGO By the Assoclated Press Oleomargarine production during the first half of 1937 totaled 188622521 pounds, the *Commerce Department reports, or about 4,000.000 pounds under the total for the corresponding period a year ago. GRADUATES TRAINED. NEW YORK, July 31 (Special).— Forty college graduates have entered the training ceurse of the York Ice in preparation for active sales and engineering service in the air conditioning and refrigera= tion fields, S. E. Lauer, vice presi- dent and general sales manager, ane nounced. — FIRST TRUST LOANS hip 6% p Fd pf (7) h Belmont Trans-Lux (.20) ext Oil it war Chat 2 Chat A (2'38)__ I Lamp 11 pf (.80) led Mfg iax (Can) .60 & & Pow A & Pow B & Povpf ofit Sh (.10g) ofit Shar pt (1) e M pf (11 I B (%g) v Card (1a) res - res 1 pf clures &Lpf (18,%) . Equit & Ind & (80) Min Knit M Md Ist pf —1% | + -1 wCaf (r) 1 Jones —2% +1% | Sl =il Td'a 654 Tdly 4Ty EITONE § 3 -1 or receivership. or being reorganized under or securities assumed by such companies in the foregoing table are annual dis- last quarterly or semi-annual declara- | & Harg (.40a) 6l the tion. Unless otherwise noted, special or extra dividends are not | xrEx rights s Also extra | 1 Pavable in stock no regular rate. h Cy leclared this war Warrants b Including % Declared sh “or stock. | . ww With RESERVE BOARD WIDENS BANK MARGIN RULES By the Associated Press. The Federal Reserve Board amend- ed regulations Friday to broaden the scope of present margin requirements as they apply to banks. Under existing regulations, persons buying securities on margin must put up 55 per cent of the price in cash and may borrow up to 45 per cent. This rule applies to all loans advanced since May 1, 1936. Under the amended regulations, ef- fective September 1, the Reserve Board prohibits the withdrawal or substitution of collateral behind loans made prior to May 1, 1936, if such action gives the borrower a loan amounting to more than 45 per cent | of the value of his securities. It the loan was in excess of 45 per cent of the securities’ value on May 1, 1936, the regulations prevent with- drawal or substitution of any col- lateral which would increase the ex- cess. They do not require, however, that the loan be reduced, or that ad- ditional collateral be provided. RAIL ISSUE AUTHORIZED The Interstate Commerce Com- mission authorized the Chicago, Great Western Rallroad today to issue $1,- 500,000 of equipment trust certificates in conection with the purchase of new equipment. CURB SEAT HIGHER. NEW YORK, July 31 (#).—Arrange- ments have been made for sale of & New York Curb Exchange seat at $23,000, an advance of $4,000 from the previous transaction. New England Fund Prospectus on Request A. §. GouLsen & Co., INC. Woedward Bidg. NA. 2000 PROFITS OF CLEVELAND GRAPHITE BRONZE UP Special Dispatch to The Star. NEW YORK, July 31.—The Cleve- land Graphite Bronze Co. for the quarter ended June 30, 1937, reports net income amounting to $633,960, equivalent to $1.97 per share. This compares with $361,279, equiv- alent to $1.12 per share for the like quarter of 1936. The above amounts are after all charges, mc\udmg provision for nor- mal Federal income taxes, but not including provision for the corporate surtax in undistributed profits. SMALL TRADER SELLS MORE THAN HE BUYS By the Associated Press. The Securities Commission said yes- terday the “little fellow” sold more securities than he bought on the New York Stock Exchange July 29 for the first time since the daily figures on small transactions became available on June 7, From June 7 to the beginning of this week the small trader's purchases measured by odd lot—or less than 100 share—transactions totaled $203,820,- 619 and his sales $168,391,582. United States Freight Co.—Deficit, six months ended June 30, was $56,- 265, against net income of $267.741 —_— Free to Executives 19 Bank and Trust Company Statements A reprint of reports of condi- tion of 19 Banks and Trust Companies of Washington, D. C., as of June 30, 1937, which ap- peared in The Evening Star. Invaluable reference booklet. Free on request to Executives ond Investors. Address Ad- vertising Manager, The Evening Star LOWER RATE TO AID MOLASSES SHIPMENTS By the Associated Press. The Interstate Commerce Com- mission authorised yesterday a re- duction from 20 cents to 17.5 cents per hundred pounds on biack strap molasses in car load lots from New Orleans, Gulfport and Mobile to dis- tillery centers of Peoria and Pekin, I The commission's order said a large solvents ocompany at Peoria Which has been using barge trans- portation to obtain black strap, has indicated it will turn over to rail car- Tiers at least half of its yearly traf- | fic of about 30,000,000 gallons. OFFICE FURNITURE WE SELL, BUY OR EXCHANGE Chairs Steel Files Desks Steel Cabinets Tables Safes seyl‘ws FURNITURE HOUSE st NW. Phone NA, 3184 Reasonable Rates and Commissions Tyler & Rutherford, Inc. 1512 L Street N.W National 0475 Loan Correspondent Mutual Benefit Life Insurance Ce. Money for Construction Loans and Loans on Exisiing Properties 5% FIRST DEED OF TRUST ONLY GEORGEI.BORGER 643 Indiana Ave. N.W. Nat’l 0350 Ce— We provide a dav and night service that it operated by skilled eraftsmen in LET- TERPRESS OR OFFSET PRINT- ING. Estimates at your request, National Capital Press 3rd and N Sts N.E. Linc. 6060 DAY OR NIGHT SERVICE 5% INTEREST CONSTRUCTION LOANS AND STRAIGHT 3-yr. LOANS Prompt Action on Applications Real Estate Mortgage & Guaranty Corporation 1610 K St. N.W. NAUL 1403 First Trust Note§ Conservative loans on small city properties yielding 5'2 and 6 per cent. NOW AVAILABLE near Dupont Circle—12 2 bath<—rental. £100 per fla t £6.000 rooms. month 00 ioan—3-family iral. new, rented a month, Denominations $250 and Up —_—— HARRY B. per 121915th ST NW_ME 0120 First Mortgage LOANS IMPROVED REAL ESTATE At 9% Monthly Payments If Preferred Construction Loans District of Columbia, Nearby Md. and Virginia NWM. J. FLATHER, Jr., Inc. 1508 H St. NA. 1753 T2 20040 LETTILL LTI LI LTI 12 L1 0L T LI 222020 1270 779 2102002272000 220207072, K N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N First Mortcace Loans District of Columbia, Nearby Maryland and Virginii Homes ‘Apartments S5% Business Properties Terms from 3 to 15 years Also Monthly Pays ment Loans RANDALL H. HAGNER & COMPANY INCORPORATED MORTGAGE Loav CORRE SRONDENT 1321 Connecticut Ave. N.W. Telephone: DEcatur 3600