Evening Star Newspaper, August 2, 1937, Page 15

. 68 cents. < sections of the car FINANCIAL. DEGLINES SHOWN INFEDERAL LOANS Bond Market Enlivened by Spurts of Japanese Obligations. Bond Averages 20 10 10 10 Rails h"(m\( Util. F'en —.1 unch unch --. 98.1 Net change. Today noon. 9181031 Saturday .. 91.9103.1 981 Month ago.. 9221025 964 Year ago.._ 9103.4102.5 1937 high _. 99.0104.4102.8 1937 low - 9091022 958 1936 high... 98.2104.4103.1 1936 low.... 86.9101.8 99.3 1932 low.... 458 40.0 64.6 5 1928 high.._101.1 98.9102.9 100.5 10 Low-Yield Bonds. Noon ....111.1 Saturday. Month ago 110.6 Year ago..111.7 1937 high. 113 1937 low.. 108.4 1936 high. 113.5 1936 low_. 110.2 1928 high. 104.4 1932 low_. 86.8 (Compiled by the Associnted Press.) the Assacia‘ed Press NEW YORK on the down gains were conf Most issues sh the v Domestic corporates were ge! firmness shown in somn er group Southern Railway 4s improved mor than a point and Rock Island 4s, Mis- souri Pacific 5s. Southern Pacific 4'. and Chesapeake & Ohin 4.5 found fractionally higher levels. Studebaker 6s pointed up about 2 points while Bethlehem Steel 4';5 and 3% s held steady. Youngstown 3';s lost about & point Japanese 6':s climbed around 11 and the 55 tilted forward a major fraction. CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS ri' w NEW YORK. August 2—The fol- fowing i today's summary of corpor- ation news prepared by Standard Btatistics Co. Inc, New York. Automobiles and Trucks. Autocar Co.—Company closed down « operations at its Ardmore, Pa. plant | for period of two weeks factory maintenance and repair work. Clos- ing is described as resumniicn of a normal annual practice, which was abandoned du depression General Motors Corp.—Domestic tetail deliveries Buick cars for the second 10 d of 6.094 units, compar the first 10 4376 in like filled orders a* Buick excess of 16.000 units Automobile Parts and Tires. Electric Auto-Lite Co.—Production thas gotten under way on this com- pany’s new Auto-Lite spark plug at Fostoria, Ohio. plant. Martin-Parry Corp. — Deficit, 9 months ended May 31, was $155,- 006. of Chemicals and Fertilizers. American Cyanamid Co.—Combined A and B share earnings, 6 months ended June 30, ag Machinery. ! Allis-Chalmers Manufacturing Co. —Company sub G low bid of | about $650.000 on 11 large irans- formers to be erected the City of Los Angeles for distr: of Beulder Dam power Metals Non-Ferrous. | Calumet & Hecla Consolidated Cop- | per Co.—Common share earnings | after depletion. 6 months ended June 30, were 74 cents, against 12 cents.! Miscellaneous. | National City Lines, Inc.—Common | ghare earnings. 6 months ended June | 30. were 55 cents. | Talcott-James, Inc—Volume of business, 6 months ended June 30, totaled $51.165, . against $38,055,- 201 in like 1936 period. Trans-Lux Corp.—Common share earnings, 6 months ended June 30, were 25 cents, against 18 cents. | Railroad and Railroad Equipment. Long Island Railroad—Company put into effect new local passenger rates, resulting in a reduction of 5 cents on one-day coach tickets be- tween the terminals in New York and Brooklyn and more than 40 dif- ferent points on Long Island. Hudson & Manhattan Railroad—| Company announced increase in fare from 6 cents to 10 cents from Hud- son Terminal, New York City, to Hoboken and Jersey City stations, effective September 1. Steel and Iron. Republic Steel Corp—Company is spending about $750,000 to increase eapacity of its Youngstown plants, Utilities. American Light & Traction Co.— Common share earnings, 12 months ended June 30, were $1.88, against $1.58. Middle West Corp.—Common share * earnings, 6 months ended June 30, were 13 cents, against 8 cents. DECLARE EXTRA DIVIDEND, CHICAGO, August 2 (#).—Standard Oil Co. of Indiana directors declared an extra dividend of 25 cents a share in addition to the regular quarterly of 35 cents, both payable September 15 to stockholders of record August 16. In the previous quarter the company peid an extra of 15 cents, NEW YORK BANK STOCKS NEW YORK. August 2 (P).—Over-the- eounter market. bank and trust companies —opening bid and asked prices: BANKS. Bg of Manhattan (1'2) ase Commercial (5 = irst Nnnonxl (100) Public (1'za) Bankers () unkers (%) Bklyn Trust (4) Central Hanover (4) Chemical (1.R0) Continental (#0) - Corn Exchange (3) Bire Guaranty (12) R ) Lawyers Trust (2.40) Manuhcluren ) ¥ Trust (5) Title Guaranty & Trust &—Including extra. MONTREAL SILVER. grust 2 m —Silver. fu- bmdy d unchapyed d a ber, FYNY Deun’:lber AR Marehs 60b, b—Bid. Al | Paris Orl R | Peru | Queensland BONDS ON By private wire direct to The Star. All time shown below {3 daylight saving on which the Exchange is now operating. Approximate Transactions Today. U S Gov't Bonds 250,000 Foreign Bonds 780,000 Domestio Bonds__. 3,580,000 TREASURY. High. Low, 99.1 98.29 103.10 103.10 101,13 101.15 100.18 100.15 100.14 100.14 101.16 Close. 99. 103.10 101.15 100.15 100.14 101.14 104.30 45 1044-54 41,S-3348'43-45 4381947 FEDERAL FARM MORTGAGE 238194 102. 102.5 381947 104.3 381949 7 7 103.7 31481964 103 26 10. .24 103.26 HOME OWNERS’ LOAN. 2% ®1942-44____ 100.30 100.30 100.30 2%81939-49____ 101.10 101.9 1019 FOREIGN BONDS. High, Low. Cl Abitibl Pa&Pw 58°63. 97 97 | Adriatic Elec 7s '52 Am\\efl Argentine 4s 7 Antioquia 7s "5 Argentine 4! 2 1008 1007 160}, Argentine 6s THE EVENING STAR, WASHINGTON, N. Y. STOCK EXCHANGE Cent I E&G 6351 Cent of N J gen 68 ‘87 Cent Pac 1st rf ¢8'49. Cent Pac 5860 . . Cert'd deb 5% 548 Champ P&F 4% Ches &0 3% C&Ogen flal 92 _. Chi B&Q gen 4858 Chi B&Q1 div 4= "49_ Chi B&Q ref 58°71__ High. Low. 10214 102 49 48% 109 109 96 95% 8415 107 9% 974 121% 111% 111% 116 Chi B&Q1 div3%s 49 i Chi & E 11 6s°51 Chi & E 111 68 '51 ctfs Chi Grt West 4s°'59__ Chi I&L gen 5866 ___ Ch! I&L gen 6s'66 CM&StP gn 31,5'89 B CM&StPEs 15 CM&StP&P adj5s2000 Chl & NW gen 214,'87 Chi & NW 41,5 2037 Chi & NW 41582037 C Chi & NW 4¥s°'49 _ Chi & NW gen 58°'87_. Chi & NW rf 58 2037 . C&NW Nr W 6%4s'36. Chi R [&P gen 43 '88 Chi R I&P rf 48'34ctf. Chi R I&P 4%8 62 Chi R I&P ¢%s'60 Chi Un Sta 3%, 8’63 E. Chi & W In con Clev El1Il133%s8°65 __ Clev Un Ter ¢3%s8'77_ Clev Un Ter 68'73 B_. ColoF&I5s 1) Columbia G & E 5s '52 May Columbia G&F 6 's1- Conn R & L 412851 Comel Credit (l‘n Com Inv Tr “onn R Pw 33" sv A Cons Coal Del 5360 AN Y 31846 d N Y 1 Cons * | Cons Gas ) - 1097 44 Berlin 6 ‘l»mfllGUs | Brazil 61 Brazil 78’52 .__ Rrazil 83 41 2 Buen A 415-4%8'77__ Buenos A 413576 Aug 8314 453455776 April. Buenos A C 612555 Bulgaria 7s'67 Canada 21,844 _ Canada 3s 67 Canada 315’61 Canada 4s ‘60 Canada 5s '52 Chile 6360 Chile 6361 Ja Chile fs 61 Sept Chile 6361 Febr Chile 7s 42 Chile Mtg Bk 6s° Chile Mtg Bk 61; Colombia 8 61 837¢ 10138 28 995, 944 997« Mnh 5 1007, 83 a h( { Cordoba Ts ‘ln . Costa Rica s Cuba 52284 | Cubasl:s's Denmarx 41 | Denmark 538’55 - 102% | Denmark 6s 42 - 11 Dom'c 1st 28'69 | 67. !GerCBk A Rs Ger “ \ l.u . 1044 10014 | - 10015 Ger Rep Gt C B G reek Gov 7s'64 Hamourz S Italy 78 ‘51 1tal P U Crd 7s *52 Japan 535 ‘6o | Japan 61s'54 Kreug&Toll 5559 cfs Low Aus H E 612544 Mex Ire 415543 asst._ Milan 6155 ' Montevideo s ew So Wales 5s ew So Wales 55 ord Ry 638 '50. Norway 4s 63 Consol Oi131;8 Consum Pwr 31 Container deb 5is " Container fs°46 Crane Co 315851 Crown C & S 4550 Crown Will P 65’61 _ Cuba Northn 6148 '42. Del & Hud ref 4s° Den& RG W §s Den & RGW 5¢ Ed E1 111 NY 3s Elec Auto Lite 4852 Eriecons 4x'96 Erle gen 4596 _ Erfe ref 67 Erieref ts | Fed Lt&Tr 6s'42 Fla EC Ry 63'T¢ Gen (*ahle 5 Gen Mot Acc 3 Goodrich 4% s Goodvear T&R bs '57 Grt Nr Ry 3%s'67 Great N Ry 43 46 G __ v | Gulf States Uti) 4566 Gulf Sta Util 434546 Hoe (R) Istmtg 44 . Houston Of1 515340 Hudson Coal 5s 62 Hudson Co G 1st 55'49 57 111 Bell Tel 3158°70 Il Cent col tr 4852 I11 Cent col tr 4s '53 | 111 Cent ref 4855 [11 Cent 458 '66 I1l Steel deb 43840 ICC&St L N O 41,863 Inland St 3%s'61 | Int R T 1st rf 5566 .| IR T lstrf 5366 ctfs Int R T 78°32 IntR T 7s 32 ctfs Interlake Iron 4847 Int Grt Nr 6s 52 A radj 6852 A vdro Elec 65 '44 Mer Marine 6541 | Int Pap 1st 5847 A__ Int Pap ref 6365 | INt T&T cv 414839 | Int T&T 414552 | Int T&T 58°55 James F& C4s'39 __ Jones&L Stl 44 8'61A Kans C Ter 18t 4s'60 Kan: Citv So ref 58'50 | Ky&Ind T 4158 Panama 5s '63 12868 Pernambuco 78 47 6560 Peru 6861 Poland 6s°40 nd 7s 47 Prussia 6s 52 24% | <1100 ‘41 - Riode Jan 61,8 °53___ 278 Rio de Jan 8546 331y Rio Gr do Sul 68 '68 7l Rio Gr do Sul 7s ‘66 - Rio Gr do Sul 7s '67 Rome 6158 '52 Roumania 7s '59 Sao Paulo St 65 "68_. Sao Paulo St 7s 40 Sao Paulo St 85 '36_ Sao Paulo St 8s *50_ Serbs 8s'62.__ Stlesia Prov 7s '58 Sydney 5155’55 _ Talwan Elec 54871 Tokio 53861 __ Tokio E L Ltd 6s'53_. Trondhiem 5%s ‘57 Tyrol Hy El 718 °55_ Ujizawa B P 78 45___ Uruguay 85 46 Uruguay 6860 Uruguay 6s 64 Venetian M G B 75'52 Vienna 6s ‘52 Warsaw 7s ‘58 Westphal E P 68°53__ Yokohoma 6561 _____ COMESTIC BONDS, Alleg Corp 58 '44 9614 Alleg Corp 58 49 864 86 Alleg Corp b 62 62 Alleg Valley 10815 10814 Allied Stores 4%s’'51. 98 98 Am & For Pw 68 2030 R1 803 Am1GChb% 107 1067% Am Intl 6%s 49 __. 1054 105% AmT& T 3%s'61 100% 100'« AmT & T 3%S'66.... 100 997y Am T & T 4%,8°39_.. 104% 104% AmT & T6%s 4 1134 112% Am Wat Wks 68’75 108'3 10814 Anaconda deb ¢%8°50 1061 106 Armour(Del)1st 48’556 981 Armour (Del) 486 A T&S Fead 4s A T&S Fead) 4s A T&S Fe gen 48 A T&S Fe4ls 48 AT&SFeCA 414562 Atl Coast L 1st 48 °'52 AtICL un 4158’64 Atl Coast Line 5s 45 Atl1G & W 1st 68°'59_. Bang & Aroos 68 °43__ Beth Steel 338 '66._. Beth Steel 434s ‘60._. Bos & M Bos & Me 6867 Bklyn Ed con !%3'85 Bklyn Man T 4%s ‘66 Bklyn Un El 6s 50 Bklyn Un Gas 5s ‘50 Bklyn Un G 6s 67 B Buff GE 418’81 B Buff R&P con 4 %857 Bush Term con 5s'55 | Calif Packing 6s 40 Can'dian NR 4358 ‘67 Can'dian NR58'69 Oct Can‘dlan N 5s'69 July Can'dian N db 61 8'46 Can'dian NR 43,856 Can’dian P db 43 perp Can’dian Pac 433 60 Can'dian Pac 41546 Can'dian Pac 68 '54 .. CaroCl& 0 6s'52 A Cent Br UP 45’48 Central Fary cv 68'41. Cent of Ga con 6s *45. 101% 8814 101% 943 10574 11014 80 59 104 Tk 11278 118y 116 125 1131 94 103% 1041 107 111 111 25 26 25 101% 101% 101% 21 21 27 [ Laclede Gas 583 Laclede G 518" Laclede G 51,860 D | Lake Leh C. Leh V- Leh V 5 Leh V NY 4 swmd Leh V P con 482003 Lel; V P con 41582003 Leh Val Term Ligg & Myers | Ligg & Myers Loew" Long Is] ref 4s 49 Long [sIrf4s 49 stp_ Lortilard 55 '51 _ L & N unif 4540 _. L& N 1st 482003 L& N 4148 2003 C. L&N5s2003B ___ L &N Atl K&C 48'55 L & N So Mon jt 4s'52 McKess&Rob 6148'50 Me C RRclt 4845 A _ Manhat Ry 48 ‘30 ctfs Mead Co 65’45 = Mil E1 R&L 5s 61 - Mil E]1 R&S L rf 58’7 Minn & St L 5562 A _ MStP&SSM cn 4s 38 MStP&SSM 5s '38 gtd MStP&SSM 515549 __ Mo K & T 1st 4590 MoK & T 5s 62 A Mo K & T adj 58 '67 Mo Pac4s'76 ... Mo Pac 5877 F'_. Mo Pac 55’78 G .- Mo Pacific 6" 81 I Mo Pac 55’811 ctfs. Mo Pac 51,849 A_ Monong Rub S 4 %860 Mont Pwr 3% s ‘66 Morris & Es 3% s 2000 Morris&Essex 4%8'55 Morris&Essex 58 '55_ Natl Dairy 33, s'51ww Natl DisP C 43845 Natl Steel 43 66 Newark C Gas 5s New E T&T 1st 68 52 New OrilGNR 6s'83 A NewOrl PS6s'562 A New Orl1 PS6s'55 B New Or Ter 1st 48°'53 New Orl T&M 5%8'54 N Y Central 3%s'52_ NY Central 31,8 °97 __ NY Central 3%s 46 NY Centcon 4s 98 _ NY Centrf 435 2013. NYCrf4%s2013n NY Cent rf 682013 _ NYCLSh3%s'98 NYC&St L 1st 45°37_. NYChi &St L 4s '46_. NYC&St L 4%538°78 __ NYChi &St L 6s°38_ NY Conn 1st 41,853 NY Dock 1st 48°51_. 66... NY G El H&P 4549 _ NY G El H&P 58°48 NYL& W 1st4s'73_ NY NH & H 8 57 NYNH&Hcv 68 NY O&W gen 4855 NY O&W ref ¢s 93 _ NY Steam 18t 6851 NY Tel gen 438 ‘39 NY W&B 4%5 46 Niag Sh 5348 ‘50 Norf So 1st ref 5561 Norf § 18t rf5s'61 efs North Am Co 68 61 North Am Ed 55 69 C North Am Ed 6%s 63 Nor'n Pac gen 38 2047 Nor'n Pac4s 97 Nor'n Pac 4%s 2047 Nor'n Pac 61 2047 Ohio Edison 3%s'72_ Ohio Edison ¢s 65 Ollo Pub Sve 7s 47 Otis Steel 414s ‘62 Pac Gas & E) 33566 PacG & E3%s 61 PacG & B ¢s 64 Pac Mo 1st 4 PacTAT 3% - 107y 100 100t 1098, 7015 1031, 11% 1061, 10315 1178 106 L 10135 Close, 102 49 11010 3 1021 1043 109 811, 1023 130! 100 102 102 120 107 99 1045 1081 113% 97la 104 104 3674 1041, 103 10315 4 19 100 103 1031 20 991 104% 1081, 113% 97'a 10415 104 367a 10415 1053, 9474 1044 106 10613 1181 124% 88 19% 105 107% 1041 1034 10414 110‘- 983 10415 111% 91 100 1033 107% 98 101% 101% High. Low. Close. 100 99% 100 654 653 65'% 93 92% 92w 62 61 62 100 100 100 10214 101% 101% 105% 106 105 100 100 100 11315 1183 1131 103 103 113 113 10R 1084 1077 108 1115 111% 103 118 41134 951 102, 17, 9914 104 234 1014 241 1088 2 1101 117% 63% 21% 96 97 945 10715 Panhand EPL 4s '52 Para Broadway 3s 65 Param’t Pic 3% s 47_. Parmelee 6544 Penn RR con 43’48 Penn Co 4s'63 Penn RR cn 4848 stp Penn RR 41881 D__ Penn RR 4% s 84 __ Penn RR &n 4865 Penn RR deh 4148 70 Penn RR gen 6868 People GL&C rf 5s'47 Pere Marq 1st 48 '56 Pere Marq 1st 5s°'56 Phelps Dodge 33455 Phila Co 5s 67 Phila Elec 31,567 _ Phila & R C&1 687 Phila & R C&1 68 '49_ Philippine Ry 4s '37_. PCC&St L 41,8'40 A_ PCC&StL 4%s'42 B_ PCC&St L 6870 A___ Port Gen E 438 '60_. Postal Tel & C b3 '8 Pressed Stl Car 58 '51 Purity Baking 5 '48_ Reading Jer C 48 '51_. Reading R 4%8°97 A Reading R 41897 B_ Rem-Rand 43, 8'56ww Republic Stl 41 Republic Stl 4% Republic St 415 Republic St]1 51,8 °54 T’.G W lstexin 4s'39 150 Sharon Stl v 415851 1061 Shell Un deb 31535 Silesian Am Skelly Ofl 485 Socony Vac 314 uth Bell T&T § uthn Cal Gas 4s'65. uthn Cal G 415861 Colo Pwr 65 47 A_ Pac 33846 Pac co) 4s 49 Pacref 45’ Pac 413868 Pac 4158 6 Pac 418 81 r‘u Oreg 458°17_ 10015 - 1058 100t 106% 10678 106 293, a1 107 6 85 R5 a5 105% 100 1067 10674 106 991, legislation may well i Swift & Co3%8'50 .. | Tenn E1 Pw 65747 A Term AsStL s | Texarkana 53,5 '50 Texas Corp 3138°5 Texas & Pac 58 Texas & Pac Tex & I Third Av ref 4360 Third A ad in ex 58'66 Tide Wat Oi]l 314’ Tol & Ohio C3%s'60. Un Oil of Ca Un Ofl of Ca | Unton Pac3ios 70 __ Inion Pac 31,8171 __ ‘nion Pac 1st 48°47 ‘n Pac istr nited Drug 58" 1S Rubber fs 47 Ttah L& T 58 44 A “tah P& L s *44 TUIP & LG5S 59 ww_ UUl P& Lb%s 47 3158 '52 842 A | Vanadium ev 5541 V C&P 13t 41.8'34 ast | Ver Sug Ist 7s'42 ctfs 104% 109 Va Ry 1st3 | Wabash 15t 5 Walworth 4s Warner-Quin 65 ‘39 Warner Bros cv 6s %S 66 A_ ‘39 ‘39 | Westchester L 5s 50 a Pw 1st 5 W Sh 1st 4 West'n Md 1st 4 Westn Md In 41g8°50 | Westn Uncl tr 58 '35 Westn Un 5 | Wilson & Co 45 ° 10415 104 367% 1041, 103 1031, 19% 105 107% 104' 1037, 1041, 98% 10414 111'%% 9% 100 103% 107 98 101% Wis Cent 1st gn 4549 WisCS&DT 4836 Y'ngstn S&T 335%°51 ¥'ngstn S&T 4361 __ Washington Exchange SALES. Washington Gas Light new—100 at 25, 25 at 25, 10 at 25 Bid and Asked Prices. BONDS. PUBLIC UTILITY American Tel. & Tel. 4'as tla & Potomac 35 ¥ Chase Club Ist 4 Col_Country Club 1st 4}4s W. M. Cold Storage 55 STOCKS. PUBLIC UTILITY. Amer. Tel. & Tel. () Capital Transit Co. o e g Steamboat. (6) Wash. Ry & El. pfd. 10913 BANK AND TRUST COMPANY Amer. Sec & Tr. Co. (eS) Bank of Bethesda (5.75) & Savings (e10) Liberty | Lincoln Natl. Sav Pr. Georges BK. & Tr. (500 Riggs (eR) el iges pfd. (5) Washington (8) ash. Loan & Tr (e8) American Corcoran (5) Firemen's (1.20) Nationa1 union (60) TITLE INSURANCE. Columbia (.30) __ Real Estate (6) _ Carpel Corp. (2.00) A Lanston Monotype ('4\ Lincoln Serv. com. (+1.00)_ Lincoln Serv. pfd, H?KQ\ ety ey | oaoni iy 3 Dr, 8.50) Rewr Bet 1 66" nf (**.30) Security ‘Storage 3) 4 Wh. Corp. (3) Wawa & Totb comr (+1.50) vd. & Loth. ptd. (7) SEx.dividend ey 23252085528 & - & oy R o gmra, £ 15 extra. *+530c pard June 1937, MEN'S WEAR SALES. The Commerce Department reports average daily sales by cham men's wear stores were 3.8 per cent lower in June than in the same month last year. . For all clothing, items selling for $35 and more gained 21 per cent over last year, but less expensive goods declined 25 per cent. Suit sales declined 15.5 per cent, hats, 3.3 per cent, and furnishings, 3.7 psr cent. mnn-a ham b | one broxen DG CHAIN TAXES VAR WIDELY N STATES Most Rates Graduated From Nominal Figure to as High as $750 a Store. E1ecial Dispatch to The Star NEW YORK, Aug. 2.—Since 1932 a total of 21 States have passed laws placing a discriminatory license on chain stores, according to Poor's Stock Reports. Rates in most States are graduated from a nominal figure per store for the first few outlets, to as high as $750 a unit in Texas for each store over 50. “Some States,” says the report, “go even further, assessing every store in a chain at the graduated rate ap- plying to the last unit. Louisiana, using this basis, further complicates matters by counting every store op- erated, whether in the State or not. Thus, & 501-store chain, with one unit in Louisiana, must pay the top tax of $500 on that outlet. To pre- vent chains from escaping the usual type of tax through establishing su- permarkets, Tennessce taxes chains on the amount of floor space occu- and Michigan, in addition to pical license tax, also assesses counter used. “Effects of this type of taxation on ocery ns can best be domnn» ted by comparing the general up- | )x') bracket rate of $500 a unit \u.h‘ the average operating profit per | store of about $1,500 for representa- tive chains Although this would eat up one-third of existing operating profits, it should be remembered that in no single case will the average per store tax be as high as the top limit. Furthermore, even a $500 fig- ure amounts to less than 1 per cent of sales per store, which were $60,500 in 1936. In other words, groceries could pass on this expense to the consumer by a 1 per cent increase | in sales prices. However, chains would still enjoy a substantial ad- vantage, as 1t has been estimated that their selling prices averaged some 8 per cent lower than the indepen- de"‘(& every Se laws are a burden, but not prohibitive. T trend toward such ve reached its peak, as consumers realize that these taxes on th food supplies must eventually affect their own purchas- Ing power. As a Tesult, popular opin- ion may denounce t rend toward chain store discrimination. s ST Washington Produce i “tresh 19 smoked hams. siab bacon, 1, compound. 13, | New Business During Week Ended Washineton Produce { an increase of 34 per cent. t ke Watsons Carolina 2 33-40-pound aterage = 1050 each - o ANTA Approximately 600 arrived. | ewar section Meat | higher fair one bro- demand bushe] Soplics Tight Washington, Tw i arrived. eight " broke unbroken cars on track Supplies | demand light: market steady Western “crates. Iceberg type 3 fair condition 3 Eastern crates 2-dosen. 50- ONIONS _One Bi Massachusetts one unbroken track. Supplies moderate market steady. 50-1b S_No. 1 arrived: | cars_ on | demand light sacks, Vellow Washington. 3 8. No. 175 henes and broken car light New York o | washed 2.6 doz Michigan: highbails de- New Jerses. TOMATCES— moderate mand lich!: mar h_Carolina ar- | seven unbroke receipts liberal | 1 market on Supblies s U.S. No. 1, + holdovers. 1.00a1.507 Yublln( few sales. VEGETABLES—No arrivals; one hmkm car_on_track LIMA BEANS—Supplies moderate: de- mana Henie marker Beads Penngylvania. bushel hampers. mostly around 2.00 CORN — Supplies moderate: moderate: market ste. sacks. 5 'dozen. 1.00al1.2. NACH —— Supplies light: market weak. Pen baskets. Savoy type, 60a type. 50. ORANGES—Four _ California arrived: four broken and six unbroken cars on track. California. boxes, 4.00a6.50, as to grade and_size LEMONS—One California arrived: one “demand Maryland, ht: demand lvania. bushel : New Zealand Jersey. sylvania, vmbynk(n car_on track Cfllvlnrma boxes, No 7.00a7.50: No. 2. £.00a6. { CARROTSAPN’\“(VI\&X’H& ’fil(l\ per dovcu hunche( bushel baskets. topped. 2en, B0 BLUEBERR‘ESvNF v cultivated, auarts RO-15: BIAs, BROCCOL!—PE bushel A CMUOCADOEvF\flnd boxes, 1.00-1.50 . ventilated crates, 2.00-3.50. as to *"BEETS Pennsylvania. 20-30 per dozen bunches. CABBAGE — Pennsylvania. 1'2-bushel himnrr; %3, §—No carlot arrivals: one broken ur ol"| 5%”"“‘ California, boxes, Wiack- SN GTARINES —California, boxes. 150- ;, LIMES—Florida, 4-5 boxes, 2.50-3.80: “ BINEAPP LES “Ciba. crater 3.00:4.00. Maryland. 10-15 per qunlrg Ovutm !‘4 -15 per quart. ne 2 My Pennuxv.m. bushel bas- kets fancy. 1.25: choice. 1.00. AU NEW York. crates. Catskill section. HO! .00, cariot arrivals: one Drokon A Thice uMOTeRoN cars o ek NEW YORK SUGAR. NEW YORK, August 2 (#).—Fol- lowing a little irregularity early, sugar futures held steady today on covering and trade buying, although the volume of business was limited owing to uncertainty over sugar legis- lation at Washington. September No. 4 sold up from 1.20 to 121 and March from 1.29%; to 1.30, or '3 point net higher and held at the best around 2 pm. No. 3, after advancing 2 to 3 points, eased partially with the list 1 point net higher. March so0ld off from 2.40 to 239 and May from 2.43 to 2.43. \ MONDAY, AUGUST 2, 1937. Six-Month Profit Of $991,262 Listed By General Tire By the Associated Pre; AKRON, Ohio, August 2.—General Tire and Rubber Co. today reported net profit of $991,262.21 for the six months ending May 31, before pay- ment of the excess profits tax. ‘Willlam O'N:il, president, said this Trepresented a profit of $2.01 per share after deducting preferred dividends of $81,375. He said net profits dur- ing the entire fiscal year of :936 totaled $2.53 per share. No figures were announced for the first half of 1936, but O'Neil said the comparable period this year was much better. A semi-annual earn- ings statement is being made this year for the first time, in accordance with New York Stock Zxchange rules. Preferred stockholders received a $7.50 per share payment Saturday that brought up to date preferred dividends which had been deferred in past periods. LUMBER COMPANIES CITE TRADE GAINS July 24 Topped Preceding Period. BY the Associated Press The National Lumber Manufac- turers’ Association said today that new business booked by the lumber industry was greater during the week ended July 24 than for the preceding week. Production was less during the week than for the week before, but| still was 21 per cent greater than new business. Production by 531 mills during the week ended July 24 was 278,308,- 000 feet, shipments were 249,664.000 and booked orders 229,119,000 ing the preceding week, 557 mills produced 296.248,000 feet, Dur- | shipped | FINANCLIAL OIL FIRMS FACE RECORD DEMAND Favorable Prices Also Help to Increase Earnings Sharply in 1937. Bpecial Dispatch to The Star. NEW YORK, August 2—Favorable oil prices and a record demand for both gasoline and fuel oil have brought | petroleum companies’ earnings to sharply improved levels in the cur- rent year, according to Poor's In- vestment Advisory Service. “Increasing motor vehicle registra- tion and operation are chiefly responsi- ble for lifting demand to new high ground, well above the 1936 record of 20,000,000,000 gallons. While aviation atill absorbs only a small proportion of gasoline production, it is making impressive percentage gains. “Fuel oil consumption, which ex- perienced depression losses somewhat greater than those of gasoline, is mak- ing large gains due to the extensive installation of household oil burners and the growing use of Diesel engines," states the analyses. “The enormous opportunities present in the adapta- ticn of Diesel engines to new uses in- dicate a large potential demand for fuel oil from this field. Consumption | of residual fuel oils follows closely the trend of industrial production particularly that of the heavy in- dustries | “Crude oil stocks are low and com- pare favorably with the past 15 years | or more, both in physical volume and | in terms of current demand. Stocks of gasoline which earlier in the year were at seasonal peak, have shown recent decreases, and total stocks of motor fuel are currently estimated to be equal to around 45 days’ supply. “The petroleum business, in all its divisions, has become more and more concentrated in the hands of the| dominant companies, the majority of which have been soundly conceived, 257,188,000 and booked orders of | conservatively financed, and are well | 217,845,000, FOREIGN EXCHANGES. {Reported by W. B _Hibbs & Co) Nominal goid value Copenhagen Oslo. crown Stockholm Montreal. crown crow n 368 2 372 per cent discount TOBACCO INDEX UP. NEW YORK, August 2 (#).—Aver- | age price of United States type 12, | grade B4F, flue-cured tobacco for the week ended July 31 was 19.3 cents a /! pound, compared with 19.1 cents in the week before, H. A. Stich, mbvco economist, reported. TRADE VOLUME UP. James Talcott, Inc.. textile and gen- eral factors. report a business volume of $51,165.227 for the first six months of 1937, as compared with $38.055.201 | for the corresponding period of 1936, equipped with adequate operating | facilities. Equity issues in many of these companies are worthy of inclu- | §10n_In business men's portfolios. both OFFICE FURNITURE WE SELL, BUY OR EXCHANGE Chairs Steel Files Desks Steel Cnbinets Tables Safes BAUM’S FURNITURE HOUSE 1416 Eve 8t. NNW. Phone NA. 2184 : First Trust Notes Conservative loans on small city properties yielding 5'; and 6 per cent. NOW AVAILABLE £6.000 near Dupont Circle—12 rooms. 2 baths—rental, £100 per month 82, flat. cen- 500 loan—3-family 1 §35 per . new, rented at month Denominations $250 and Up P HARRY B. LOLZISMh g1 N W E 016 MONEY MARKET. NEW YORK. Augus steady. 1 per cent mercial steady. @ 15 per cent. CRUDE RUBBER FUTURES. NEW YORK. August 2 P —Crude rub: ber, futures opened steady 3 September 1R 41-3 arch, 18 154y ni . Reserve Bank 15.56-60 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. \ Invalucble reference booklet. || Free on request to Executives ‘ ond Investors. Address Ad- vertising Manager, | The Evening Star Safe Investments t inortgage notes, 7 vall ecured on con- 6 rvatively appr , new buildings in Washington and near- by Maryland. Denominations of $500 up. Interest 6% per annum. Bradley, Beall & Howard, Inc. Southern Bldg. Phone Nat. 0271 IF YOU CAN PROFITABLY USE MORE MONEY IN YOUR BUSINESS +o..you will find us ready to confer with you and ren- der every assist- ance in our power. The Washington Loan and Trust Company ohar 17ha0 \ Member, Federal Reserve System and Federal Depostt Insurance Corporation. First Trust Loans For Purchasing a Home or RE-FINANCING EXPIRING TRUSTS NO COMMISSION CHARGE NO RENEWALS REQUIRED Terms Arranged Easy Monthiy " Farments AIMBEIR BUILOING § LOAN A50CiATION €Ol ¥ . NATIONAL UocR suoLavison ¥ U.S. TREASURY 949 NINTH STREET,NW. WE WISH TOD ***% A—15 for income and appreciation. Furth- ermore, the threat of further inflation renders particularly attractive thoss organizations strongly entrenched with crude oil reserves.” ‘WOOL MACHINERY. Wool machinery activity declined slightly in June, the Census Bureau reports. Percentages of machines and spindles in place operated for June and May, respectively, follow: Woolen and worsted broad looms, 71.5 and 72.8; woolen and worsted narrow looms, 416 and 429; wool carpet and rug looms, 61.6 and 62.6; woolen spindles, 840 and 843, worsted spindles, 72.4 and 73.5, and worsted combs, 79.6 and 82.6. QUOTATION ON DOLLAR PARIS, August 2 () —In final fore eign exchange dealings today the United States dollar was quoted 26.6725 {rancs (3.749 cents to the franc), com- pared with 3.75 cents to the franc in New York over the week end. Real Estate Loans 5% « 5%% Business Property and R dence . . . Construction or R financing Loans © o @ SHANNON & LUCHS Mortgage Loan Correspondents MASSACHUSETTS MUTUAL LIFE INSURANCE CO. 1505 H St. N.W. Natl. 2345 For CONSTRUCTION LOANS and LOANS ON IMPROVED PROPERTY in the District of Columbia Nearby Maryland and Virginia Prompt Action B. F. SAUL CO. 925 15th Street Natl. 2100 Is Your Mortgage Maturing Soon? REFINANCE IT ona long - term basis AT 5% OUR LONG-TERM, low-inter- est Mortgage Loan Plans eliminate bothersome, ex- pensive renewal and refi- nancing arrangements. The loan runs until the mort gage is paid in full. The principal may be paid in regular monthly install ments, like rent, or in any way you choose. If you are interested in cutting your carrying cost, talk with us about our Mortgage Loan Plans. WEAVER BROS inc REALTORS Mirtgage Loan Correspomdent Marspelitan Lifs Insurance Company WASHINGTON BUILDING DISTRICT 948 ANNOUNCE THAT EFFECTIVE THIS DATE OUR NEW YORK CORRESPONDENTS HAYDEN, ARE STONE & CO. MEMBERS NEW YORK STOCK EXCHANGE JOHNSTON, LEMON & Co. MEMBERS WASHINGTON STOCK EXCHANGE SOUTHERN BUILDING WASHINGTON, D. C. August 2, 1937 Easy Monthly Payments as low as $7.50 per $1, No commissions or renewals. may be paid monthly. 000. Taxes Investigate our econmomical loan plan. COLUMBIA BUILDING ASSOCIATION 716 11th Street Opposite Palais Royal