Evening Star Newspaper, August 2, 1937, Page 16

A—16 xx» LIVELY FALL TRADE SEEN BY BANKERS Big Farm Income Cited Among Leading Factors In Monthly Survey. BY EDWARD C. STONE. Seasonal reaction in business has seen less than expected and it seems reasonable to believe that Fall trade will be good, says the monthly review 9t the American Bankers' Association, >ut today. Labor difficulties are less hreatening and reopening of the steel nills gave business a needed business onic. An important favorable factor is the osition of the farmer. In general the srecasts indicate a good wheat crop. e early July estimates were slightly bove the average for the five years 928-1932, and larger than the com- ined American and Canadian crops ast year. Corn is equally promising. hifting prospects naturally have af- ~cted prices somewhat, but the fact "mains that this is to be a “good 2ar” for the grain belt and that the armers will have money to spend. otton, too, seems likely to contribute ) the improved purchasing power of he agricultural population. Income ‘om that crop is expected to be the ‘est since 1929, the review says. Less favorable factors include events long the world's military fronts, east : well as west, unpleasant reminders f international instability. At home n unbalanced budget. a spendthrift ‘ongress indifferent to the growing ecessity for economy, and a rising cale of costs to both producer and onsumer are adverse factors 1ust be taken into account in any ttempt to appraise Fall prospects. The general industrial outlook, of ourse, is affected by rising wage nd other production costs. In most nes retail quotations have finally aught up with the advance in whole- ale prices noted several weeks ago 3o far the advance has not been large ~nough to affect consumer buying. Better Bank Credit Demand. The outlook for bank lending ac- ‘ivity in the next few months is rela- ively good. Because of the fact that there has been less of a Summer let- down in general business than antici- bated, 80 the demand for bank credit 1as continued above expectations. However, there seems to be little im- mediate prospect of improvement in money rates. Excess reserves of mem- ber banks have again been on the ncrease, the report states. Railway car loadings have set a new high level for the vear. The oil ndustry continues to boom, with a sustained increase in gasoline con- sumption over last year. The travel ousiness is very healthy. Railways, steamships, bus and air lines are handling unprecedented passenger volume. The recreational season in New England and other Northern States promises business at least 20 per cent over the good season of 1936. Building contracts awarded during June totaled the highest for any month this year. Residential con- struction during the first half of the year rose 59 per cent over last year, the survey says. Firm Made Correspondent. Hayden, Stone & Co., one of the oldest investment banking and bro- kerage houses in the country, will act as New York correspondent for Johns- ton, Lemon & Co, it was announced in the financial district today. In ad- dition to its seat on the New York Stock Exchange, the firm holds mem- bership in other important stock ex- changes, as well as in all the principal commodity exchanges. Main offices are in New York and Boston, with branches in Springfield, Mass., and Portland, Me. The Washington office of Mackubin, Legg & Co. is distributing a booklet on “Labor,” written by Albert W Thorpe, Baltimore, manager of the firm’s investment management depart- ment. He analyzes the basic factors| of the present labor situation. He con- cludes by stating that the American labor movement is fraught with such uncertainties that the investor must recognize it as a primary force bear- ing on his future financial welfare. Both labor costs and labor relations must be given more attention in the future as to their probable effects on industrial corporation earnings. An increase of 242 per cent in the number of air express shipments for June, as compared with the corre- sponding month of last year, was re- ported today by the air express divi- sion of the Railway Express Agency. The total for last month was 51,837 thipments, a New York report said. Bankers Conclude Vacations. Howard Moran, vice president of the American Security & Trust Co., was back in the main office today after & month’s vacation, which in- cluded a motor trip up the coast to New England and a visit in the White Mountains. R. Earle Haycock, auditor of the Riggs National Bank, returned today from a vacation, passed at various Virginia beaches. B. Grynn Dent, essistant cashier of the same bank, s back from a vacation at Cape May. David Bornet, vice president of the National Savings & Trust Co., is back at his desk after a 10-day vacation at his country place at Shady Side, Md. William V. Simmons, trust officer at the Liberty National Bank, has returned from a vacation, most of which was spent at Epping Forest. Earle M. Amick, one of the vice presidents of the Riggs National, is spending his vacation on a trip to Canada and J. R. McMullan, an as- sistant vice president, is vacationing in North Carolina. Irving Zirpel, secretary and assist- ant trust officer at the Union Trust which | Prev. High. 8415 22% 28% 36 801 Pl 15% L3 594 521 121 174 71 1041 328 30%, 335 991 134 133, 6874 3815 11y 43 17% 125 208, 121% 111 133, 991 7015 2074 3915 69% 114 801 120 21% 4% T5% Co., has concluded a vacation at Tall ‘Timbers in Maryland. New Gas Stock Sells at 25, Trading in the new Washington Gas Light common featured business on the ‘Washington Stock Exchange today. The market opened with a 100-share sale at 25, followed by 25 and 10 share lots moving at the same price. The closing bid was 2434 with 26 asked. New York bank stocks were slightly Jower at the end of the week according to Hout, Rose & Troster, bringing the yield up to 3.29 per cent for 16 issues. Insurance stocks also eased off. Shipments of oil burners during June totaled 14,724 units compared with 14,406 units in May and 14,699 units in June, 1936, the Department of Commerce reports. Production of boots, shoes and slip- pers, other than rubber, amounted to 34,240,868 pairs in June compared with 29,370,504 in the corresponding month of last year, the Department of Commerce reported. ] 0‘/4 114‘« 37 283 1007 25% 108% 81% 3 14% l27 FINANCIAL, 193 Stock a Low. Divitend Rate, 63% Acme Steel (4) - 15 Adams Exp (.308) 2214 Adams-Millis (2)_. 28 Addressog (1.40)___ 64% Air Reduction (1a).- 21a Air-Way El Ap 11 Alaska Jun (.60a)_. 2% Alleghany 3415 Alles pf §30 ww-. 35 Alleg prpf___ 30% Alles Steel (1.20g) Allied Chem (6) __. Allied Mills (2g) - Allied Stores (.20a). Allied Strs pf (5) _. Allis-Chalmers(1g) Alpha Portland (1) Amal Leath Amal Leath pt Amerada (2) Am Ag Ch Del 23g_ Am Bank Note %g Am Can (42) __ Am Can pf (7)___ Am Car & Fy (%g)- Am Car & F pf (4g). Am Chain & C(3%g). 4 Am Comcl Alco _ 5 AmCrystal S 2% g Am Crys Sug pf(6). Am Encaustic Til__ Am & Forelgn Pow_ Am & For Pw §7 pf._ Am & For Pw 2d pf. Am Hide & Leath_ AmIce _ Am International Am Locomotive._. Am Loco pf Am M & Fdy (% Am Metal ( um Am New Am Pow AmP &L $5 pf (3 AmP & L §6 pf (6) _ Am Rad & St S(.60) Am Roll Mill(1.10g) Am Seating (1) AmSmit & R(21g) Am Stk Am S Am S «Am Am T x Am ] Am Tob pf (6) _ Am Type Fdrs Am Wat Wks (.60g) Am Wat W 1pg(s). Am Woolen m Wool pt (2k)_. AmZincL&S _ Anaconda (% g) Anchor Cap (.30g) Arch-Dan M (1g) Archer Dan pf (7) Armour Del pf (7) Armour 111 (.55g)__. Arm Il pr pf (6) Armst'r Ck (1.50g) Arnold Const (%8). Artloom = Asso Dry Goods Asso D G Ist pf (6)- Atch T &S F (28) _ Atlantic Coast Line. Atlantic Refin (1) Atlas Corp (.80) Auburn 204 90k 15213 1014y 1824 431 6015 7 401, 49 1281, 1% 1165, 106 7 818, 543 Aviation Corp__ Baldwin Loco (r) __. Baldwin Loc asd(r) Baldwin pf asd(r) . Balto & Ohio__ Balto & Ohio pf Bang & Ar Barber Co (X&) Barnsdall (1) Bayuk Cigar (%g)_ Beatrice Cr (1a)___. Beldin-Hem (1) Bendix Aviat (‘2;) Best & Co (215a) Bethlehm St1 2 5113 Rizelow-San 1%g _ 24 Black & Deck (%g). 22 Blaw-Knox (.43g)-. 4 Boeing Airpl Bohn Alum (3 41% Bon Ami B (1%g 21'2 Borden (1.60) 3878 Borg-Warner (2) .15 Bridgeport Br.40g-. 394 Briges Mfg (114 41% Briggs 39% Bristol-My (2.40a)_. 1812 Bklyn-Man (215g)_. 26' BKklyn Un Gas 2.30g. 16% Brunswick-Bal_ 14% Bucyrus-E: Tix Budd Mfg___ Tl Budd Wheel (.20g)_ 16% Burlington Mills(1) 2213 Burr Ad Mch(.658)- 44 Bush Term (r) __. 127 Butler Bros (.60) __ 284 Butler Bros pf(113) 413 Butte Copper & Z__. 17t Bvers Co 25% Brron Jack ((1g) 354 Callf Pack (17za) 21, Callahan Z-Ld 12 Calumet& H (%p)- 24 Campbell Wy (1) 23 ‘ase (J 1) pf (7) Lorpllhr'lrac( ) Central Fdy _ Cent 1L LUpf (474). Central RRNJ . 11 Central Violeta Sug 60 Cerro de Pasco (4)_. 1113 Certain-teed ___ 4813 Certain-teed 6% 67 Ches Corp (3) _ 5014 Ches & Ohio (2. 80!) 2! Chi & East 111 (r) 614 Chi & East I11 pf(r). 8% Chi Gt West pf (r)_. 24y Chi Mail Or (133a) . 1% Chi MStP& P (1) _. 3% Chi M St P&P pf(!) 3 Chi&NW (r). 21 Chi Pneu Tool . 2 Chi RI1& Pac (r) 44 CRI&PT% pf (r). 14 ChiYell Cab(1%g). 15% Chick Cotton Oil 9 Childs Co _ _ 94 Chrysler (7g8) 17% City Ice & F (2 City I & F pf (S‘z)_ 6% City Stores _._ 321 Clark Equip (1.60) 35 Clev Graph Br (1g). 23% Cluett Peabody (1). 2 Coca-Cola (2) “olgate-Palm (%) flins & Aik (2a) _. 31 Colo Fuel & Ir (1g).. 15 Colo & South_ 15% Colo & South 1st Df Col Brdestg A Col Brdestg B .2.50_, 10 Colum G&E (.20g)_. 28% Col Pict vtc (1a) 56% Comcl Credit (4) 100 Comcl Cred pf 4% _ 6314 Comcl Invest Tr(4). 10373 Comcl Inv T pf 4% - 13 Comcl Solv (.60) _ 2 Comwlth & Sou _ 46 Com & Sou pf (3) 13% Conde Nast - 34 Congoleum-Na (2)_. 1974 Consol Aircraft. 973 Consol Cigar _ 79 Consol Cigar pf(7)_ 311 Consol Edi (1.50g) . 9913 Consol Edis pf (5)._. 214 Consol Eilm 8% Cons Laundrie: 1414 Consol Oil (.80a)_ 4% Consol RR Cuba Df % Consol Textile_ 20% Container (1.20) .. 184 Contl Baking A_.... 2% Contl Baking B___.. 81 Contl Baking pf(8). 50 ContlCan (3)_____. 85% Contl Ins (1.60a) .. 2 Contl Motor. 39% Contl Oil(Del)1%g- 25 Contl Stl (%g)- 547 Corn Prod (3) 6 Coty._-_ 40 CraneCo. . 100% Crane Co cv pf (3) 28% Cream Wheat 114g_ 184 Crossley Radio .. 638 Crown Cork (2) 16% Crown Zeller 94Y% Crown Zeller pf (5). 51 Crucible Steel. 1% CubaCo...__ 7% Cuban-Am Sugar__. 109% Cub-Am S pf (10k)- 814 Curtis Pub__ - 71 Curtis Pub Df (W] 5 Curtiss-Wright. 16% Curtiss-Wright 3% Cutler-Ham (1g) 12% Davega Stores (18). 04% Deere & Co (18)---- 96 18 THE EVENING Net Add 00. High, Law. Close. chge. 83 Kz 3 187 180 6 23 22% 2 33 11 16 B3+ % 18% = 4 23 + W 33 Y% + % 21 ]!"n 361 410 354 —1%4 364 + 4 239 -y 25+ 1y 20% + 1y 80 +1 69% +1% 24 -1y Bl + &y 381, =115 9315 —1y 96+ 1 2714 111 157 52 79% 5 2% +1% 1% — 4 9% — % 112% 4 % 10% + % 5% + % 6% — 4 204 5 10% 5% 6 20 7% 2 15% 154 15% 13 141% 139% 141% +3% ( Prev, 1937 High, 313, 581y 2413 14614 761y 3615 4018 23 29 % 1591 394 1% 1804 13515 115 17 1818, 3Tl 111t 111, 281, 1w 10915 695 201y 9%y 307 29% 1374 6614 1514 34% 101 16% 2% 26Y% 36% 4815 122 120 164 106% 2% 34 9% 34% Stock a Low. _ Dividend R-u 25% Deere & Co pf(1.40) ___ 33 Del&Hud. . __ 13% Del Lack & W __. 1107 Detroit Ed (5g) - b69'x 26 331 143 20% 4T 1158 241, % 1481 1301 Diamond Mat (1a) _. Diam Mat pf(1%a). Diam T Mot (%g)-- Dist Corp-Seag .. Douglas Aircraft _. Dow Chem (2.60g)_. Dresser B (le)_ Dul S S & Atl__ Du Pont de N(2%g) Du Pont deb (6) 110% Duquesne 1st pf(5). 9% Bastern Roll .______ 151 Eastman Kodak (8). -m',! ton Mfg (1%8) = ch 1k Horn Coal pf Endicott-Tohn (3) . irbanks Co_. 4 Fairbanks pf 3 Fairbanks Mrse (1a) Federal Motor 3 Federal Screw. Federal Wat Sve A Federat D St (1%;5) Fid Phoenix(1.60a). l-ne\lmw Qe . Rpf (6) - Firet Nag Surs(2 Flintkote (1) Follanshee Bros Food Machine (1a) M 3 Foster Whesler Frecport Sul (18) - ir (Robert) Y r Wood Ind (%g) en Am Inv Gen Klec (80g) Gen Foods (2) Gen Motors (1%g) - Gen Out Adv. Gen Out Adv A Gen Print Ink (.30g) n Prink pf (6) n Ry n Real & U Gen Refract Gen Then Gil te (1 te pt mbel Bros mbel Bros pf (6) - idden Co (2a) idden cv pf (214)- Gobel Adolf Goebel Brew (.20a)- Goodrich (3:8) Goody Goody te Cit St (1) (WT) (1.40a) Great Nor Ry pf Nor Ore ct(%g) Grt Wst Sug(2.40a) Green (HL) (1.60a) 2% Greyhound (.80) yhound pf (.. Gulf Mob & Nor Hall Print Hamilton W ( Harb-Walk (1g) Hat Corp pf (672) Hecker Prod (.60a) . Hercules Mot (1) Hercules Pow (3g)- Holland F (1g) Hollander (1\ Homestake (.75g Houd-Her B (1%) Household Fin (4) Househld Fin pf(5) Houston 01l Howe Sound (3a) Hudson & Man Hudson & Man Hudson Motor. Hupp Motor . Tllinois Central._ 111 Cent LL (4) Indust Rayon (2) Inzersol Rand (3g) Inland Steel (4a) . Inspiration Copper_ Interchem Corp(2)_ Interch Corp pf(6)_ Intercontl Rubber_. Iaterlake Iron Intl Agricul ______. Intl Bus h(6a). Intl Harvestr (215) Intl Hydro-Elec A . nt Mer Marine ining (.30%) . el Can(1g) Intl Paper & P A . Intl Paper & Pw B_. Intl Paper & Pw C . Intl Paper & Pw pf. Intl Ry Cent Am Int Ry Cent Am pf_ Intl Shoe (2)_ Intl Silver Intl Tel & Tel Interst Dep S 2% g Jewel Tea (4) . Johns-Manville (3). Jones & L pf (31:k) Kansas City Sou_ Kel-Hayes Wh B__ Kendall pf (6a) Kennecott (28) . . Keystone S&W (.60) Kinney (G R) Kinney (G R) pf - Kinney pr pf Kresge Dep Stores . Kresg ) 90g _ Kress (S H) (1.60)_ Kroger Groc (1.60) Laclede Gas .. Lambert (2) __ Lee Rub & T (1) _ Lehigh Valley Coal. Lehigh Val Coal pf_ Lehigh Valley R R_. Lehman Corp (1a) _. Lerner Stores (2a)-. Lib-Ow-Glass (3g)~ Libby McN & Lib__. Liggett& M B (4a). Lisg & Myers pf(1). Lily Tul Cup (132) - Lima Loco (1g) Link Belt (2) Liquid Carb new_ Loew’s (2a) Loew's pt (6%5) Loft _ 4 Lone Star Cem (3) Long-Bell A _ Loose-Wil Bis (2) . Loose-WB 5% pf(5) Lorillard (P) (1.20) 4 Louisv GRE A 1% _. Louisv & Nash(5g) - Ludlum Steel (1) __. MacAnd & F (2a) McCall (2)_ McCrory Strs McGraw Elec (2 Mclntyre Pore (2)- £ McKeesport T (2)-- McKesson & Rob. McKess & R pf @ McLellan Strs(%g) Mack Trucks (1) Macy (R H) (28) __. Mad Sq Gar (1.15g). Magma Cop (1%g) -~ Maracaibo Oil.____. % Marine Midl (.40a)_ 187 Marshal Field 19\i Martin (Glen)_. Martin-Parry 4 May Dept Strs (e Maytag Mead Corp (1) Mead Corp pf (6) Mengel 58 Mesta Mach (2%8)- 14% Miami Copper __ 25% Mid-Cont Pet (%g). 3374 Midland Steel (2) 108 Midland Stl 1 pf(8). 96 Minn-Hon Reg (3) 11 Minn-Mol Imp_ 8814 Minn-Mol Imp p! 1% M StP&SS Marie __ 107 4% 161, 145 2 31 9% 2018 6913 120 174 15 9 101 51 144 44 31k Ste 20% 8 25 931% 9% 23% Mission Corp (1§)-. ’ 5% Mo-Kan-Texas. 21 Mo-Kan-Tex pf. Devoe & Ray A(3a). ~ Bales— Add 00. High. Low. Clo: 2 _27%_27% T37% 7861 157 158 115% 116% 605 604 S - AR e B D Ao -—wu-—.mmuw—»a‘ 00100 4 10 = 508 00 1= 4 1 10 & 00 30 1= i 10 & 23 =2 o 8 - ORI BN DD G0 o S -3 11% 66 1874 32% 6 39% 114 114 1184% 117% 14% 13% 105% 1047 7 24% 24 STAR, WASHINGTON Net eh 5 27% + P4l T+ 44140 R I AR S | 954 +14% 11% + 66 + 1913 + 821 + 4174 + 114 118 + ¥ 14% + 105% +2% 15 + % 7 224 -% D E, Prev. 1937 8Stock and Dividend Rate, Add 00, Hi 6 Mo Pacificpt (r)__. 2 28 Mohawk Crp(1.20a) 11 85 Monsanto Ch1%g 48 Montgom Ward(2a) 27% Motor Prod (1%g) 1714 Motor Wheel (1.60) 37% Mueller Brass (1a)- 13 Mullins Mfg B new_ 19% Munsingw'r (.50a) . 10% Murray Corp . __. 58% Myers & Bro (2g) - 1614 Nash-Kely (1) 30 Nash Chat & StI,- 17% Natl Acme (%g)- 11% Natl Aviation ___ 22% Natl Biscuit (1.60) _ 29% Natl Cash Reg(%g) Natl Dairy P (1.20). Natl Dept Strs Natl Distill (2)_ Natl Gypsum Natl Lead (34) Nat Mal&St1 C(1g)_ Natl Pw & Lt (.60)_. Natl Steel (134g)-—. Natl Supply - 3 Natl Sup pf (1%k)_ Natl Tea (.308) - Natomas (.80) _ Newberry 5% pf (5) Newport Ind (1%g) 4 NY Central_______. N Y Chi & St Louis_ 4 NY Chi & St L pf N Y C Omnibus N Y & Harlem (5)__ “NYNH&H (r) NYNH&Hpf (r). N Y Ont& West (r) N 'Y Shipbldg o PR IPEISPS:- 1 21 41 = s N Y Steam $7 pf North Am Aviat North Am (.60g)_ North Am pf (3) Northern € Northern Pacific thwest Tel (3) . Norwalk T Norwalk Tire pf Ohio Ofl (Vig Oliver Farr Omnibus Outboard M (1 Outlet (2a inance (1.80)_ Pac Gas & EL (2) Tac Mills (18)- Pac West Oil (.636). Packard Mot (.15g). Tan-Am Petrolm Panhandle P&R (r) Panhandle pf (r)___ Paramount Plet Park & Tilford (2) . Tark Utah Parke Davis(1.40g). Parker Rust-Pr 1. Yarmelee Trans.___ Tathe Film Tatino Mines Teerless Corp Penick & Ford (1g). Penney (JC) (2g) . Tenn-Dixie Coment Penn R R (14g) . _ Teoples Gas Lt & C Tetro Corp (40g) Y Pfeiffer Brew (.60g) Thelps Dodge 1% g Thila Rap Trans __ Phila Read C& I __ Philip Moris(3%g) . § Phillips Pet (2a)___ Pills Flour (1.60) Pitts Coal pf - Pitts Screw (.308)_. * e w o rnr R rwanS e annn~ o Pitts Steel pt Pitts United 2 Plymouth Oi1(70g) Poor & Co B Postal T & C pf (r)- Pressed Steel Car Procter & Gam (2a) Procter & G pf (3) . Pub Sve J (2.60)_ Pub § nt () Pullman (13%)____ Pure Oil 2 Purity Bak (.30g) .. Quaker St Oil .00g _ Radio Corp Radip cv pf (312 Py Real Silk Reliable Strs (1) Rem Rand (1.05g) . Rem R pf ww (413). Reo Motor-- .. Republic Steel Revere Copper & B_ : Revnolds Met (1) Rey Met rts Augi2. Revnolds Tob B (3) Toan Antelope 1.11g Ruberoid (.60) St Joseph I,ead!.’a) L-San Frn pf (r) vaze Arms(.752). chenley Distill(3). hulte Ret (r)._... hulte Ret pf ott Paper (1.038)_ caboard Air L (r) - aboard A L pf (r) Sears Roeb () Servel Corp (1a) Sharon Steel (1.20) . Sharp & Dohme Sharp& Dopf 313 . Shattuck FG (.60)_. Shell Union (32g) -~ Smith & Cor (%g)-. Socony-Vac (%g) -~ Sou Am G&P (.10%) 4 Sou Po Rico Sug (2) Sou Cal kdis (11:8) MONDAY, AUGUST 2, TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE By Private wxu Direct to The Star. es— T4 351 103t 634, 3574 1937. Prev. 1937 High. Low. 65% 43% 6015 117 6% Spaldin; 7% 60 Spaldin 10415 Spang C 95 Sparks 36 23% 3414 28% 48% 16% 125 14% gh. Low. Close. chl' Thw Ta+ 4 34% 3dn —1Y% 103'3 103% 621 634 35 35% 21 21% 41 - % Spiefiel uare St G&RE Stokely 37‘/: Superh: Thatch Tide-W, Tide-W Transu Truax- 20th Ce Twin Ci ‘n Bag 1 1 1 1 Un Pac Un Tan Unit Ai Unit Ai Unit Bi 1 TUnit El U v v U S Ru S Ste l n\v. St TUniv-C Vadsco Vanadi Van Ra: s Valron Vulcan Waldor: Walgrel 3 Walgre Walker Wayne 102 10015 109 1231118 24 T 2 413 57% 404 167% 1 West P, W Pen West A Wester! Wester West U stin Wheeli Wheel Wh Stl White 6le 12y 913, 657 47 11215 106 100 4 Wilcox Wilson Wilson Worthi Worthi 1054 T6% 90 65% 20' Yellow 42 83, 94n 308 353 111 561 13%, 28 Wright Approximate Sales 11:00 A.M 1:00 P.M. 165 bursements based on tion. included x Ex dividend. | inred this vear. S8tock and Dividend Rate, % Sou Pacific _ Southern Ry Southern Ry pf._. Spen-Kell (1.60a) Sperry Corp (le). 4 Spicer Mfg__ Stand Brands (.80) - Stand Com Tob_ Stand Gas & El (r) . Stand G & Epf (r) .. Stand Ol Calif (1a) Stand Oil Ind (1a) .. Stand Oil N J (1a) _. Sterling Prod(3.80) Stewart-Warn(3;a) Stone & Web Studebaker 17% Sunshine Mng 43) - Superior Oil Superior Steel Swift & Co (1.20) » Swift Intl (2) Symington ww .. Symington xw .35g. 613 Telautograph (.60). 103 Tenn Corp (%g)--- 50% Texas Corp (2) 6 Texas Gulf Prod _ 33% Tex Gulf Sul (2a) __ 11% Tex Pac C&O (.40) _, 10 Tex Pac Land Tr . Thermoid A Thompson Pr(.90g). 3 Thompson. Timken-Det Ax(Ze) Timken Roll B (3) . Transamerica new Trans & West Afr “nit Carbon (4) Unit-Carr Fast (2) . Unit Corp Unit Corp pf (3)_ Unit Drug (%g)- Unit Fruit (3)_____. Unit Gas Imp (1) US&F US&F Freight (1%e)_ US Gypsum pf(7) . Hoftman Mach - Indus Alco_. Leather Leather A Pipe (3) U S Realty & Imp__. UtilP&Lt A (1) 1 Vick Chemical (2a). Va-Caro Chem 4 Va-Caro 6 pf( Wabash pf A (r). Wahash Walworth ‘Ward Baking B Warner Waukesha Mot (1a) Webster Eisenlohr Wesson O & S (73a) W Penn E1 A (7) W Penn P 7%pf(7). ‘esthse hse Elec pf 3g White Sew M pf Woolworth (2 Wor P&M pf A stp_ WorP&MpfB. Wrigley Jr (3 743 Youngstn S&T 1% & 30 Zenith Radio(1%:8) Total Sales for the day, 8 Unit of trading 10 sharss. rIn bankruptey or rceivership. or being reofganized under bankruptcy act. or securities assumed by such companies. Rates of dividends in the foregoing table are annual dis- Unless otherwise noted. special or extra dividends are not £ Pavable in stock. ‘ash or stock. FINANCI P & 1st pf_ “h pf (9k) - With _ Inc (%g) . D Co B.60g .. 7% pof(r) . 2=l i+El ] Bros(.95g) - eater 1.7 5% erpf (3.60) . tarc-o ater As(la) Aspf (415) AL. STEELSADVANGE INLATE TRADING : Rails Continue to Sag—Gen- eral Motors Is Lively Performer. Stock Averages 30 15 13 A0 Indus. Rails. Util. Stks Net change. +2 —3 —1unch Today noon. 97.7 39.0 44.3 695 Saturday .. 975 393 444 695 Month ago.. 910 382 409 65.1 Year ago_. 90.1 388 521 67.7 1937 high___1016 495 540 75.3 1937 low. 87.9 361 39.1 62.6 1936 high. 99.3 435 537 728 1936 low 734 302 434 557 1932 low 175 87 239 169 1929 high.__146.9153.9 1843 157.7 51.7 1927 low. 516 953 618 618 (Compiled by the Associated Press ) By the Associated Press NEW YORK. August 2—Steels, rallied in today's late stock market dealings and some recently hesitant leaders made a better showing Rubbers and farm implements ex- hibited strength from the start, along with an assortment of specialitics which were buoyed by earnings and dividend developments Many issues, at the same time, e& W (15g) 4 Tri-Cont Corp (%g) Traer (.80) _ Truscon Steel nt-Fox (lg} ity R T "nderwood (1% g) &P (2) ‘n Carbide (2.40 ’n Oil of Cal (.858). ific (6) - k Car (1.60)_ reraft (%), r Lines - scuit (1.60) _ ec Coal_ oreign Sec . or'n 1st (6) - ober ___ S Rubber 1stp . 21 ¢ ! 2 el pf (7) - ockyds (13) . velops St(1). Sales pf um Steel alte (1 x) Coal & C pf. Detin (3g) . ). t (1.20) - en (2) en pf ww 413 HG&W(2) Bros Pict _ Pump(132g) enn El pf(6) El7% pf (7) uto Sup 1.60. 'n Maryland . n Pac = nion Tel (3). Rhse Air (1). &M (3R) ). ng Stl tlpf 2ty plres2izg . otor_ - 5% " 13 -4 g s — N Oil & Gas & Co (72) $6pf(6) __. .40) __ ngton Pump ngtonpf A _ 2 497 41 10974 11015 92 96 0% 22% 8913 911y 1% 37 3T + % of Stocks on the N. Y. Stock Exchange, 200,000 12:00 Noon. 0,000 430 000 2:00 P.M._ 0,000 790,000 5413 2 +4l <1 Aero 57 Truck .. 227n e last quarteriy or semi-annual declara- xr Ex rights. a Also extra or extras. e Pald & Declared or paid so far this Kk Accumulated dividend paid or de- | Money Circulation Dips. NEW YORK, August 2 (#).—Money in circulation dipped slightly in the week ended July 28, according to the credit statement of the reserve banks. The setback was seasonal, the normal accompaniment of slow- ing Summer trade. Money use, reported by the Reserve Board, compared as follows: Week ended July 28, $6.424,000,000. Previous week, $6,436,000,000. Same period last year, $6,123,000, 000. Girl Wants Earrings. Having proved that she is the granddaughter of Theebaw's Queen, who gave no end of trouble in fight- ing for her rights after King Theebaw of Burma was defeated in the Bur- mese War of 1885, a girl has presented a problem to the Burmese govern- ment at Rangoon. She demands as a right $9,375 to have her ears pierced for earrings by Buddhist priests in a manner befitting a granddaughter of King Theebaw. In yellow petticoat and green hat she appeared before Sir Archibald Cochrane, the Governor, and stated her demands. The Gov- ernor is puzzled as to what to reply, but the princess believes she holds a trump card because the Indian government before Burma became in- dependent paid $35,000 for the ear- piercing ceremony of her mother and her three aunts. Driver Faces Murder Charge. SIDNEY, OHIO, August 2.—Pros- ecutor Leo Winget said today he would file a murder charge against Robert James, 20, held in the death of Jaunita Jenkins, 16. The girl died Saturday, four days after she was found in a cornfield suffering from a skull fracture. Police Chief William O’Leary said James told him the girl fell from the running board of his moving automobile, |Steel Production Gains 1.2 Points During This Week By the Associated Press. NEW YORK, August 2.—Operations in the steel industry for the current week advanced 1.2 points to 85.5 per cent of capacity, compared with 84.3 per cent last week, the American Iron & Steel Institute estimated today. A month ago operations averaged 67.3 per cent of capacity while a year ago the rate was 71.4 per cent. CHICAGO STOCKS CHICAGO. August 2 (#).—Scattered issues scored modest advances in to- day's quiet Chicago stock trade, but the bulk of the list was unsettled and prices were irregular. Buying cen- tered in a few specialties. Frog Plague Alarms. Hungarian singing frogs, imported to stop & plague of mosquitoes, do not always sing on key, but they in- variably sing too loud. This is averred by the people of Stone-in-Oxney, England, all of whom declare they cannot sleep because of the croakers, which are four times the size of English frogs. Villagers flocked to & meeting held in Memorial Hall to find ways of stopping the frog plague, which is spreading to villages 15 miles away. It was decided to appeal to the local member of Parliament, the ministry of agriculture, the Kent County Council, the Tenterden Rural Council and the English House of Commons. A plan to use red flannel to entangle the frogs’ teeth was dis- carded when an appeal for a red flannel petticoat failed. Italy is promoting the production of synthetic rubber. FARM IMPLEMENT RECORD FORECAST Domestic Sales Expected to Near Half-Billion Mark and Set New All-Time Peak. By the Associated Press.. CHICAGO, August 2—The 1937 har- vest of the farmers' best money crops in 8 to 10 years will swell domestic agricultural implement business be- yond all optimistic expectations, ac- dustry today. Authoritative private forecasts n- | dicated domestic sales will eclipse all | previous records, a projection of actual | first six months’ gains reported by important units within the industry indicating domestic sales may total close to half a billion dollars, which would top the 1929 record of $458,- 000,000. Last year the total was around $400,000,000, while in 1932 it was estimated at less than $120,000,- 000. The implement manufacturers are making up for the lean years of 1931, 1932, 1933 and 1934—a period of small volume and sales during which equip- ‘ment in use was not being replaced at a normal rate. The result was that production fell to as low as $116,- 000,000 in 1932 and $120.000,000 in 1933 and showed little improvement in the drought year, 1934. _— Japs Ask 84-Hour Week. Government authorities at Tokyo, Japan, heeding recent agitation, have drafted a bill to reduce the number of the workmen's hours from 15 to | moderate | Westinghouse, | up 5 or so at | point .‘ covering, but the 4| b 3 cording to reliable sources in the in- | * lacked or on the upside and OSers were in evidence at the finish Rails continued to droop and util- ities lost their buoyancy of the pre- vious week. Gereral Moto lively performer on anticipation of news scheduled for close. Chrysler improved at the last, An upturn of 12 points in this | week's stele mill operations tended to bring in support for these stocks. Although Wall Street was none tnn happy over the Senate passage of the wage-hour bill, little selling was ascribed to this turn of affairs. Hopes for an early adjourment were an off- setting factor Transfers was a e advance in pleasing dividend release after the approximated 800,009 | shares. Prominent with gains up to 2 points or o were United States Steel hem. American Rolling Mill, dium. Crucible Ste General M Chrysler, Goodyear, United Rubber. Goodrich s D International Nickel Union Bag & Paper. National Cash Register, Collins & Aikman. Armstrong Cork. National Department Stores and States Pont. Anacon Roan Ante | United Aircraft Good crop news aided the farm ma- v department. J. I. Case got the best. and Deere. In- ternational Harvester and Oliver Farm pushed up 2 to 3 About unchanged to off around & were American Water Works, Consolidated Edison. Electric Power & Light, New York Central, Southern Railway, Coast Northern Pacific, Pa'\- mount, Columbia Gas and Chesapeake Corp. Coca-Cola stock was a boost in the cents and a earnings. istless despite end from 30 to 75 substantial upturn in - NEW YORK COTTON By the Associated Press NEW YORK. Augt —After de- clining to new lows for the life of present contracts again today on fa= vorable weather over the week end, cotton ruled quiet with traders awaite ing more private crop estimates Small rallies occurred at times on ndertone was easy and buyers cautious. A holiday at |Lnemool resulted in small foreign operations December declined after a rally to 10.67 again eased to the earlv low. In midafternoon tha entire list was 8 to 9 points net lower, t 2 1061 and New Orleans Price Sags. NEW ORLEANS. August 2 2 - ‘Couon started the new season today by making new lows for the first move- ment. Though occasional profit~ taking flurries were encountered, prices were 4 to 8 points net lower at the beginning of the final hour. October contracts traded at 1071 after selling off at 10.68. December sold at 10.70. January at 10.76, March at 10.58 and May at 10.88. Most of the selling was made up of hedging against the new crop and a little tired long liquidation, CHICAGO GRAIN By the Associated Press CHICAGO. August —Influenced more or less by nearly 18.000,000 bushels increase of the United States visible supply total. wheat today fell 234 cents a bushel maximum. This increase compared with on 7.578,000 bushels increase at this time last year, but was less than last week’s increase of 20,573.00C bushels. New domestic Spring wheat in larger volume is now beginning to be mar- keted. At the close wheat was 1'4-13 lower compared with Saturday's fin- ish; September, 1.15-1.15's: Decem- * ber, 1.16!4-%: corn, 1% off to 3 cents up; September, 94%-% : December, 66-66'4, and oats 75 down WHEAT— Onen.. High Los 56 Close 1.15-1 116 4- L137s-18 SUBSIDIARY OBTAINED BY ROOT PETROLEUM By the Associated Press OKLAHOMA CITY, August 2.— Cromwell-Franklin Oil Co., Oklahoma City, today became a subsidiary of the Root Petroleum Co., Shreveport, La., when the Root conpany acquired 10,897 of Cromwell-Franklin's 15.- 568 outstanding shares of stock atan average price of $70. The deal was announced by Stuart G. Lyon of Lyon, Pruyn & Co., New York fiscal agents for Root, an inde- 12. The Japanese workman, toiling seven days & week, will have an 84- hour week if the measure becomes law. pendent company owning a refinm# and pipeline holdings in Louisiana and Arkansas. relatively * Bethle- ,