Evening Star Newspaper, August 6, 1937, Page 13

FINANCIAL. CORPORATE BONDS HAVE MIXED TONE Utilities Edge Forward, In- dustrials Also Gain, but Rails Ease. Bond Averages % 10 10 10 Rails. Indust. Util. F'n. Net change. +1 +1 1 Today, noon 91.4103.3 98.0 Prev. day_.. 91.5103.2 979 Month ago- 9311028 96.8 Year ago. 4.2103.41025 1937 high .. 99.0 104.4102.8 1937 Jow.-... 9091022 958 1936 high... 98.2104.4 103.1 1936 lo 86.9101.8 99.3 67.6 1932 low., 458 40.0 646 422 1928 high___101.1 98.9 102.9 100.5 10 Low-Yield Bonds. Noon ..__111.2 Prev. day- 111.2 Month ago 1108 Year ago. 111.8 1937 bigh. 113.7 1937 low.. 108.4 1936 high. 1135 1936 low_. 110.2 1928 high_ 104.4 1932 low 86.8 133 3.4 72,9 69.3 4.7 70.5 3.0 (Compiled by the Assoclated Press.) By the Associated Press. NEW YORK, August 6.—Utilities crept forward to score fractional gains in an otherwise uneven bond market today. Rail liens were in supply. In- dustrials stiffened. Federal loans were quiet and steady. Wall Street evidently found several utility earnings reports to its liking. American Water Works 6s, American & Foreign Power 5s. Consolidated Edison 3,5 and Pacific Gas 33,s lifted fractionally. Detroit Edison 4! improved North American 5s were unchanged Taking the downward path for frac- | tions to around a point were Santa Fe 4s, St. Paul 5s. Erie 55, Great Northern 4s. Rock Island 4s and St. Louis & San Francisco 4 Pointing a little higher were “Katy" 5s and New York Central 5s Bethlehem Steel 4';s and 33,s Rained fractions. International Tele- phone 5s and Texas Corp. 3',s ad- vanced a notch. Foreign dollar loans | moved narrowly, VOTE CALLED ON PLAN OF M'GRAW ELECTRIC| By the Associated Press. NEW YORK. August 6-—Stock- holders of McGraw Electric Co., Chi- cago, maker of elecirical appliances, will be asked in a special meeting September 8 to approve reclassification of capital providing for issuance of | two shares of new $1 par common for each $5 par sha’e now outstanding authorization of $2.000.000 preferred | stock and $250,000 common shares and transfer of $750,000 resulting from re- duction in par value of common to | paid-in surplus. DIVIDENDS ANNOUNCED NEW YORK. August & —Dividends deciared. Prepered oy the Standard Sta- tigtics Corp, Increased. Pe- Stock of Pay- Rate-riod. record. able- o : Ohio Water 8ve A 9-15 9-30 Extr Simon Wm Brewery.__ Resumed. —-25¢c - ©urbons Cons.__ Recular. Ala & Vicksburz S3°0 8 Archer-Daniels Mid Bullocks Inc Central Tube _ Grown Cork & Seal 34 Easrh Util Assn o Fab Coe & Gregs Inc Hazelting corp NEW YORK BANK STOCKS d New York ‘Assol | as of 2 o'clock.) NEW YORK. A Becurity Dealers (Quotatic Bank of Man! Bankers Tr [ Brooklyn Tr o4 Central Han Bk & Tr (4) Chase National (1.40) Chem Bank & Tr t1.50 Commercial N) Cont Bk & Tr (i Corn Ex Bank & Empire Trust (1) B Manufacturers Tr pt () Natfonal City (1) New York Trust (5) Public _(112a) Title Guar & Trust L FEDERAL LAND BANKS NEW YORK. 6 Land Bank bonds August i).—Federal CHICAGO PRODUCE. CHICAGQ. August & (#.—Poultry. 46 trucks: firm: hens, 412 pounds up, fere ran 4% Dounds, DL Leehor her fryers, colored. _Plymouth Rock. : White Rock barebacks. 10 brotlers. colored Blymouth and White Rock. TX: or steadler: prices un- 304: unsettled: extra cars. 0%: fresh graded 915 cars. 20: current re- storage packed firsts 201, on track. : total U. S. U: weak. supplies moderaty demand slow, sacked"per hundredweight [daho Bliss Triumphs. U 1 1.65. according to condition: banks, U. S. No. 1. 2.00: U. S, fales. 1.50ai 60, Washington Rusaet. Bur banks, U. S. No, combination rade, 150 0.8 No. 3. 11080 S0 Con lers.” Missouri. U. S No. 1 and partly nded 1.0021.10: New Jersey. U. 8. No. fair auality, Nebraska. U. S. nd partly graded. 1.00-1.15;" show- 95, fiusm B\lr- V. 8. TREASURY POSITION. By the Associated Press. The position of the Treasury August 4: 0.110.797.78; expenditures, SaaoRasdbar balunce. $2.811 1866 o, cusa:gnu receipts for the month, expenc e . including $7 of emergency expenditure: Exocis of cxpendi tures. $: 11.66: gross debt, $i an ‘increase of $ 227.34 _over the previous day: goid a. 1248208015 21 including. S 430 566 76.10 of inactive’ gold. MONEY MARKET. NEW YORK, August 6 (#.—Call money steady: 1 per cent all day. Prime com- mercial paper. 1 per cent. Time loans steads: 60-90 days, 1's: 4-6 months. 1l per cent. Bankers' acceptances unchanged. Rediscount rate, New York Reserve Bank, 1l per cent. PHILADELPHIA PRODUCE. PHILADELPHIA. August 6 (. —Live oultry: Powl, {ancy P h Rocks, 24- i Leghorn broilers, Dressed 'x‘multrv Po! resh. killed, in 56 old roosters. 15 V- boxes Butter stendy. p Glidden Co.—Common share earn- ings, seven months ended May 31, were $2.01. y. U S Gov't Bonds Foreign Bonds Domestic Bond. |2%81949-53_ 2%8 194547 23,8 1948-5 2% 81951-5 2%8 1956-5! 27% s 1955-60. 381951-55_ 3% 1946-49_ 1941 1S 1944-46_ 3% 5 1940-437une 106, 491944-54 3t 4% 8-3%8"43-45_ 107.1 4% 8 1947-52_ 103.1 238194244 2385 1939-49_ 33 1952_ Abitibi Pa&Pw 58 '3 Adriatic Elec 7s'52 . Akershus 5s 63 _ Antioquia 7s 45 A. Antioquia 7s'45 B Antioquia 7s 45 D Argentine 4s°'72 Argentine 4%s'7T1 Argzentine 65 69 Oct Argentine 6s '60 Sept Argentine 6s°61 May. Australia 4%s '56. Australia 5855 _. Australia 58 '57_. Austrian s '57__. Belgium 7s°56 Berlin £ ; Berlin Elec 6125 '59 Brazil 6128 26-'51 Brazil 61;8 '27- Brazil 1852 Brazil 8s 41 | Buenos A C 6145'61Pv RBuesnos A J\'fi4 Buen A 415-4%, Buenos A 414576 Aug Buenos A 63’61 st Pv. Canada 24 s-44_ Canada 2% *45_ Canada 3s'67 __. Canada 3145 *61- Canada 4s'60 Canada 55 '52 Chile 63°60 _ Chile 68°61 Jan Chile 63 '61 Febr Chile 6361 Sept. | Chile 6563 Chile 7s 42 _ Chile Mtg Bk 656 | Chile Mtz Bk 6345 '37 | Cologne 6125 '50 Colombia 6861 Jan Col Mtg Bk 6125 "47_ Copenhagen §s '52 Cuba 5355 45 Cuba 535 53 Denmarx 4%s'6 Denmark 5% Dominie 2d § ‘ onia 7s'67. | Fiat deb 7546 Frankfort 632s'53 Ger C Bk A 65'60 July |GerCBk ATs 50 ___ | Ger Gov 5%2s 65 st Ger Gov 5135'65 un st | Ger Rep 7s 49 stpd _. Ger Rep7s 49 un st_, GriC El Jap 7s 44 Greek Gov 6s'68 | Greek Gov 7s'64 | Haiti 6352 Hung Con M s 46 | Hungary 7%s 44 | Irish Free State 55’60 ltaly 7s '51 | 1tal’cra P W 75’47 B Ital P U Crd 75 ‘52 Japan 63865 oo Japan 613564 Karstadt 65'43______ | Karstadt 65’43 ct stp Kars 65’43 ct st prin_ Kreug&Toll 5s3°59 cfs Medelin 614854 Met Wat 5385 Mex 45°10- Milan61;s " Montevideo 6 Norwav 6s 44 Nuremberg §s Panama s '62 Paris Orl Ry | Pernambuco Peru 6360 Peru 6s 61 { Rhine W E1 P 6353._ R1io de Jan 6348 ‘53 Rio de Jan 8s°46 { Rlo Gr do Sul 6s'68__ Rio Grdo Sul 8s'46__ Rome 61,552 Sao Paulo St 8s 50 Rerbs 85’62 __ lesia Prov 7s | Svdney 51555 ) Tokio s Tokio 61;s se1in Tokio E L Ltd 6s°53 . Tyrol Hy Elec 78 '52_. Uruguay 6860 Uruguay 8s'46._, Vienna 6s°'52._ Yokohoma €= “61._. DOMESTIC B Adams Express 4s ‘48 Adm Exp 41,546 std Ala Grt Southn 4s 43 AIb&Sus 33,546 gtd. Alleg Corp 68 '44 Alles Corp 55 49 | Alleg Corp s 50 stp_ Alleg Valley 4842 Allied Stores 418’50 Am & For Pw 65 2030 Am1GChb6%s49 Am Intl 6%s ‘49 AmT&T 3% 1. Am T & T 3%s 66 .. AmT& T 4%s8°39_. AmT & TE%s 43 Am Wat Wks 6s'75 Anaconda deb 4% 850 Anglo-Chil Nit 7s 67 Armour(Del)1st 45'65 Armour (Del) 4s '57_ A T&S Fe 4s 05-'55__ A T&S Feadj 4s'95. A T&S Foad) ¢s 95 st A T&S Fe gen 4895 . A T&S Fedlss 48 AT&S FeC A 433562 Atl Coast L 1st 48 °52 Atl Coast L clt 4s8°52. AtICL un ¢%s'64 Atl Coast Line 6s 45 Atlantic & D 1st4s’48 Atl1G & W 15t 68°59_. B&O1sts 43 _____ B&04%s'60 ______ B&O1Ist5s8'48 _____ B&Oref 5895 Aeeee B&OG6s'96F ______ B&Oref 532000 D... B&Oref 65'95C. B & O PLE&W V. B&OSwnb6s's B & O Toledo 48 '69... Bang&Aroos ¢s'51... Beth Steel 3% s '66._. Beth Steel 4% s 60. Bos & Me 58°55 oo Bos & Me 6567 Bot Con M 6%s'34. BotCon M 6%s '34 ct. Bklyn Ed con 3%s 66 Bklyn Man T ¢%s ‘66 Bklyn Un EI 68 *50 5 Buff GE4%s'81 B__ Buftf R&P con 41%8'67 BCR&Ncl5s'34 Bush T Bldg 58’60 Can‘dian NR 4%8 ‘51 Can’dian NR 434856 Can'dian NR 4%s ‘67 Can'dian NR 4% ‘65 Can’dian NR55'69 Oct Can’dian NR 5570 ... Can'dian N db 61, 8'46 Can’dian P db 4s perp Can'dian Pac 4348 46 Can’dian Pac 438 60 Can'dian P 5844 cfs_ Car & Gen 5850 ww._. Approximate Transactions Today. TREASURY. 116.31 FEDERAL FARM MORTGAGE. HOME OWNERS' LOAN. 100.31 100.30 100.30 101.9 1035 FOREIGN BONDS. THE EVENING Cent Il E& G 65°51 Cent of N J gen 68 ‘87 Cent Pac 1st rf 4s°49 Cent Pac §s ‘60 Cert'd deb 6% 848 Ches & 0 314896 D Ches & 0 31896 B C & O con 55°39 Chi & Altref 354 Chi B&Q gen 4858 Chi B&Q 43817 Chi B&Q ref 6571 Chi B&QI div 45 *49 Chi & E 111 6551 Chi & E 111 55 51 ctfs Chi & 1 I1l con 65 '34_ Chi Grt West 4559 Chi 1&L gen.6s ‘66 CM&StP4s’89_ CM&StPbs'75_ CM&StP&P adj Chi & NW 4148 2 Chi & NW 4%5 2037 C Chi & NW 4% 849 _ Chi& NW rf 65 2037_. ChiR I&P rf 4s ‘34 Chi R I&P rf 4s’34cte. Chi R I&P gen 4588 ChiR I&P 4%8°62_ Chi R I&P 43%8°60 _ Chi T H&S 18t 55 60 Chi Un Sta 314851 Chi Un Sta 3% 863 E Chi Un Sta 4844 Chi & W In con 4s '52 Chi & W Ind 4%s 62 Childs & Co 5843 CinG & E3%= 66 Cin Un Term 5857 C CCC&St L gen 4s'93 CCC&St L rf 4% g'77E Clev Cliffa Ir 435 Clev El 1113%s Clev Short L 4148 "61- Clev Un Ter 4%s ‘77 Clev Un Ter 5873 B Clev Un Ter 515724 Colo F & 16343 Colo F& 5510 Colo & So 415 '80 Columbla G & E 53 ‘52 May. _ Columbfa G&E 58 '61- Comcl Credit 3%s 51 Conn R Pw 3%5°61 A ConsEA N Y 3% s'46. | Cons Ed N Y 3% 556 Cons Gas NY 4%s ‘51 Consol Of] 3%s°51 Consum Pwr 3%s ‘66 Consum P un 3%s 65 Consum Pwr 31870 Consum Pwr 3% s '65 Container deb 55 *43_ Crown C & S 4s'50 _ Crown Will P 65’51 Cuba Northn 514,842 Cuba RR 1st 55 '52 | Del & Hud ref 4s 43_. Den G & 51 | Den G & 55751 st | Den & R G con 48 36 |Den& R G W 5855 Den & RGW 55'55asst Det Edison 3128 ‘66 __ | Det Edison 4865 F | Det Edison 4148 61 D x| Duquesne Lt 335’65 llec Auto Lite 4352 ecv 43’53 A_ Erie cons 45 '96_. 210,000 880,000 4,300.000 6 11681 0 103.10 103.10 101.9 101.9 103.1 103.3 Hizh. Low. Close. 99 99 99 6% THY 9% 9 13' 6% 10042 1004 1017, % 1028 1073 1074 5 104% 118 100z 10114 5313 1015 91 991y 100 95 100 1077% 1137% 661 1041y 100% | 10472 104 101 100% 1027 10215 T5ta T 9914 90 Erieref 5s'75_. Fairbks Morse 45 ‘66 Fla EC Ry 5374 Fla ECRv 57 | Fond J & R 4582 filed Gen t:able 5% 847 Gen Mot Acc 38°45 Gen Mot Acc 3%s'51 Gen St Cast 514 " Goodrich 414556 Goodrich 6s°45 __ Goodvear T&R 6s ' 404 | Grt Nr Ry 3%s'67 100% | GTeat N Ry 43 46 G 23 |GTtN Ry 4s 46 H_ 58, | Gulf M& N 58 50 1131, | Gulf States Util 4566 851, | Har Ry P C 1 st4s 54 g3, | Hoe (R) 1st mtg 44__ 747, | Houston O11 63540 Hudson Coal 6852 __ Hud & Man inc s '57_ Hud & Man ref 63 '57. 111 Cent col tr 45 '53__ I11Cent ¢%s ‘66 ICC&St LN O 4%+ 3 ICC&St LN O 65863 IntR T 1st rf6s°66. IRT1strf58'66 ctfs IntRT6s'32. Int R T 7s '32 ctfs. Interlake Iron 48 '47_ Int Agr-cl 5s°42 stp. IntGrt Nr6s'52 A __ Int Grt Nr ad) 2 A Int Hydro Elec 6544 Int Mer Marine 6s'41 Int Pap 1st 5347 A__ Int Pap ref 6s°55 Int T&T cv 4% m '39_ Int T&T 43:%°'52 _ [ Int T&T 5s ‘56 lowa C 1st&rf 43'51_. James F & C 4s°39 Jones&L St 4% s'61A Kans C Soref iw'i0 Laclede Gas 5339 345, a0 0% 100% 100% 23% 23 58% 58% 11'5‘5 1131 8515 /2% 4% 9 9213 SZ K] T4 79 1045 102 100 10215 10574 1061+ 24% 1041 102 100 10215 1051, | 1060 | 291\ 1054 1061 247, Leh ValCoal 6s '38_ Leh Val Har s ‘54 Leh V Pcon 4s 2003 __ | Leh V P con 43,5 2003 Leh V RR con 5s 2003 Leh Vai Ter is'41 reg Ligg & Myers 63 51 .. Ligg & Myers 78 '44_ Loew's 315846 Long Isl ref 4s°49 La & Ark 58 69 Louisv G&E 31 5% 100 68 T4 100 8 ONDS. 10175 101% 10215 1021, 107% 1075 15 100 68y Tlta 100 s TN '66 - L&N umf i3 4D le" McKess&Rob 61, 5'50 Me C RRclt 4s ‘45 A Me C RR gn 4%5°60 A Marion Stl Shov 65'47 Mead Co 6345 __ Met Ed Ist rf 41,368 MStP&SSM cn 4s 38 MStP&SSM cn 55 *38_ MStP&SSM 5%s ‘18 Mo K & T 1st 48 '90_ MoK &T 4%5°78_ MoK & T bs 62 A Mo K & T adj 68 Mo Pac 48°76__ Mo Pac6s'17F 1010 | 1021, | 107% 1037y Mont Pwr 3% s 66 __ Morris & Es 3%s 2000 Morris&kEssex 58°55 Nassau Elec 45’51 std Natl Dairy 3% s'61ww Natl Dis PC 4%s 45 Nat Ry Mex 1st 48 Natl Steel 43 65 New E T&T 41561 New Orl & N 4 New Orl P S 6862 A_ New Orl P S 6s 55 B New Or Ter 1at 4853 NY Central 3%s 48, NY Cent con 45 '98 NY Cent rf 4%s 20 NYCrf4%s2013n_ NY Cent rf 682013___ NYCLSh3%se'98__ NYCA&St L 1st 4837 NYChi & St L 4546 NYC&St L 434578 NYC&St L5%8°74 NYChi &St L 6538 NY Dock bs ‘38 NY Edison 3% s°65 D. NY G E] H&P ¢8°'49 NY LE WD Imp 5543 NY NH&H 3%s ‘54 NY NH & H 4s 58 NYNH&Hcv 6348 NY NH & H Cons Rys NY O&W gen 48°55_. NY O&W ref 45 92_ NY & Rich G 65’51 _. NY S&W gen 5540 _ NY Tel gen 415539 _ NY Trap Rock 65°46_ NY Tr Rk 65 °46 stp. NY W&B ¢33 46_ Niag Sh 6%5 50 _ Norf So 1st 58 '41 Norf So 1st ref 6561 Norf S 18t rf5s'61 efs Norf&W 1st 4596 rs,. North Am Co 55 '61 rg North Am Ed 6s°69 C 103% 103 103 | North Am Ed 5%8'63 115 115 115 | Norn Pac4s 97 100% 100% 10' Nor'n Pac 4597 rg. 9415 106% 104% 104'5 1041 High. Low. Clo: 3 103 10 50 51@ 109% 1094 94% 94% 85 85 97y 9TH 1064 ™2 92 107'% i 1i1% 10314 107y 110 105 86 1064 102 10712 110 111% 103 107% 110 106% 1087, 106 103% | § 10: 1007« 1045 1044y 9504 124 108% 97 102 92y 945, 101 104% 1045 109 97 103 9214 943, 1028 45% 30 6T 1011 100t | BONDS ON N. Y. STOCK EXCHANGE By private wire direct to The Star. STAR High Low. Close. Nor'n Pac 4%8 2047_0 95% 95% 95% Nor'n Pac 55 2047 D__ 100 100 100 Nor'n Paa 68 2047.___ 110% 110% 110% Ohlo Edison3%s'72. 99 99 99 Ohio Edison 45°65___ 105 104% 105 Oreg W RR 4s 61 1074 107'% 107% Otis Steel 4148 '62 9liy 917 91 Pac Gas& F13%s°66 100 100 100 PacG&E3%s8 61 __ 104 103% 104 PacG & E 4s 64 107% 1075 1075% Pac T&T rf3%s’66 B 101 101 Panhand EPL 4552 100% 100% Param’t Pic 3% 8°47_. 9215 925 Paramount Pic 65 '65. 100% 100'¢ Parmelee 65 44 . 643, Penn Co4s'63 ______ 103 Penn Dixie C 6 993 Penn P& L 4 102 Penn RR 348 w1 ___ 106 Penn RR 3%35°70 C__ 100 Penn RR cn 45’48 stp 11315 Penn RR 41,581 D__ 108k Penn RR 4%s 84 1077 Penn RR &n 4%s°65_ 111% Penn RR deb 435 *70. 1027y Penn RR gen 6368 _ Pere Marq 1st 4556 _. Pere Marg 1st bs'56 Phelps Dodge 31552 P’hila B&W 4s " Phila B&W 4 Phila Co bs 67 Phila Elec 31,867 Phila & R C&l 5873 Phila & 12 C&1 63 49 l‘h!lll\[!lue Ky 4s 37_. & PILSC W Va 435859 B PILLS&W Va 412560 C Postal Tel & C5s 93 Pressed Stl Car 5s 61 Reading Jer C 48 '51_. Keadiug 1 4228 97 A Rem-iand 4 % s'66ww Republic Stl 4%s ‘50 Republic Stl 4 %8 '56_ Republic Stl 4338’61 Republic Stl 5%2s '54_ Revere Cop 414856 RG W lstexin 4s'39 io G W col 4s Rutland Can 4; Safey 9. ay Stores 4s 5 K0 43°50 A cifs. S Fran 4%s 78 S F 4128'T8 cf st. Fran 5360 B__ W &n rf 5590 Stp lnheuxr 8°72. SanA & A Pass4s 43 San \n[ Sve 6s 1101, a0d A L 6345 A abd A L cifs. Seabd A-F1 6835 A ct Sharon Stl cv 434861 Shell Un deb 3158 '51 8 105 100 2 101 106 100 107 106 106 101 1001 93 107 Socony Vac 3l4s°50 _ South Bell T&T 5541 Southn Cal Gas 4565 | Southn Cal G 41,8761 S0 Colo Pwr 65 47 A_ South Nat G 4138 51_ So Pac3%s 46 So Pac col 4849 So I’ac ref 48’55 | tribution for | promotional | consumer S0 'ac 4128 68 _ S0 Pac 4128 69_ So Pac 43,8 81_ 458 er 4s Y gen 48 '56 A 8o S0 Ity M& O 4538 So Ry St L div 4s 51- « | Soutnw'n G, Stand OIL N J §s 61 Studebaker cv 65 '45_ Swiit & Co 338 50 1 L Pw 63 47 A Texarkana 538 '50_.. Tex & Pac 15t 58 200 Third A ad in ex 68°66 Tide Wat Oil 3%8'52_ Tol & Ohio C2%s'60_ Union Pac 3%,e'70._. Union Pac 314871 _ Union Pac 1st 4847 __ Un Pac 1st rf 4s 2008 United Drug 6s '53 _. Utd Rys St L 43 "34_ u a Rubber s 47 ah P& L 6s 44 _ Util P & L 53 59 ww_ UUlP& L 6%s 47 __ 1SUos 40 1st8%s 66 A 1 Wabash 1st 53 3y Wabasn 2d bs < Walworth4s § m .'\n tn Md 5158°77 | West'n Pac 5546 A as 107 1041 102 1044 1037 T8y 943, 105 1077 94 105 2| years. 10474 106% 3p 106 NH" 106 106% 314 106' 314 1064 121 76 9813 981y 9% 111 1071 9815 10315 10474 104% 1047 105 104% 104% | Wilkes B&E 1st 5s 42 Warner Warl ..x-umn 6839 | W Sh lstds | W Sh 1st 4s 2061 | West'n Md 1st 43 86 101 107 31| 59 101 90 89 1o West'n Un 418°50 __ Westn Uncl tr 53 '38_ Westn Un 5s ' West'n Un 6860 Wheel Steel 41 White Sew M 6 Wilson & Co 43°65 _ WisCS&DT 4s'36_. Y'ngstn S&T 3%s 51, Y'ngstn S&T 43°61__ 103! HARTFORD PLANS ISSUE TO BUY EQUIPMENT By (he Associated Press. Trustees of the New York, New Haven & Hartford Railroad Co. asked the Interstate Commerce Com- mission today for authority to issue $1,660,000 of 3 per cent equipment trust certificates for part payment on new rolling stock estimated to cost $2,225,000. The carrier plans buying 50 light- weight steel coaches and five cafe- teria coaches. The certificates would be dated Sep- tember 1, next, and mature over 10 N DIVIDENDS ORDERED. NEW YORK, August 6 (Special).— Directors of Mohawk Carpet Mills, Inc., declared the regular quarterly dividend of 30 cents a share, plus an extra dividend of 30 cents a share, making a total of 60 cents, on the common shares, payable September 15 to stockholders of record Septem- ber 10. COTTON SEAT HIGHER. NEW YORK, August 6 (#).—A New York Cotton Exchange membership | U sold at $12,300, up $300 from the previous transfer. SHORT-TERM SECURITIES. (Reported by Chas. D. Barney & Co.) Amer T & T plos 1943 Auburn Auto Co’ 4%s 1939 Houston Of 5ss " 11 Intl” Mer “Manime o5 Intl T & T 4i5s 19: Laclede Gas Light 5s 3 Lehigh” Val Coal 65 1938 Lehigh Valley Tr R 55 1941 55 1 N ¥ Susa & Westn 5s 1940 N Y Tel Co 4'as 1938 __ Pac' RE of Mo 4s 1938 Penn-Dixie Cement' 65 1941 Penna RR 45 19 Rio Grande Soestn 4o 1030 TIr RR Assn StL 4'zs 1939 1 Vanadium Corp’ 55 1941 Sel9 Western 1 102 1‘ 102 | ERtemn Do e o5 1952 D. C., FRIDAY, ADVANGE SCORED BY RETAIL TRADE Hot Weather Brings New Gains in Many Areas During Week. By the Associated Press. NEW YORK, August 6.—With hot weather spurring demand for Summer goods retail trade volume established further gains in many areas during the past week, Dun & Bradstreet said today in their weekly review. All leading centers of distribution reported larger sales than for the week preceding, the gains ranging from 3 to 8 per cent. The review noted, however, that, except in those districts where buying was brought to a standstill by last Summer's drought, there was little improvement over the previous year's total. The estimated volume of retail dis- the country as a whole was estimated &t from 8 to 20 per cent larger than for the correspond- | inz week last year. “Summer clearance sales and August events joined to incite interest in a wider range of merchandise,” said the summary “Fall market week assemblies brought more activity to wholesale centers, with commitments outstandingly gen- erous in districts adjoining the agri- cultural areas. “Emerging from the shortest period of Summer recession in years, addi- tional industries advanced operating rates, while others maintained previous high schedules to build up stocks.” Retail sales in the Middle West ex- ceeded last year's by 12 to 15 per cent, the review stated, “supported mainly by the increase in agricul- tural areas.” Demand continued to lag at some industrial cente Output of factory supplies was seen maintained at about 30 per cent above the 1936 level, “although the flow of orders has subsided somewhat from the machine tool, paper furniture industries.” smoked b bacon. am;” 19 isiab TOCK —Pigs. 11a1 edium. 1724 o._b Wash- States Bureau of ome dur arrived New Y type. 2 dozen No cariot_arrivals rack. Supplies iizht ot steady. New Y U.'S. No one broken und s $0-1.50 PRACHES. Thtee cafs South Carolina broken and 6 roken cars t Truck receipts moderate: sup- plies moderate: demand moder: market steady North bushel baskets, El inches minimum, Carolina U Carmans Hiley e inches Beiles 5. New | New Yo on. 1.00-1 Potato Market Steady. POTATOES—Truck receipis moderate Supplies moderate: demand light: market steady. 100-pound stacks. U. S. No. 1 [ Pennsylvania, 1.00; New Jersey. 1.10 TOMATOES—Supolies demand market steady 12- quart climax baskets 25 WATERMELONS —Boat receipts equiva- lent “to six cars Vireinia liberal. ~ Supplies liberal dull. North Carolina truck, Bnm liveral Jersey, ., bulk per 100 melons, 8.00: ‘primes. 10.00- o aationy, 0.00 MIXED VEGETABLES. One New York arrived: two broken cars on tra LIMA BEAN. upplies HEREE demand lighi: ~ market steady. Pennsylvania hushel baskets. 175 Marviand and New Jersey. fair condition, 1 SPINACH—Supplies_ moderate: demand Jight; market sieady. ~ Pennsylvania, bushel baskets. Savoy tvpe. 0. ORANGES—Two ~ California three broken and three unbroken cars track. California. boxes. 4.00-6.00. fo grade and size CKLEBERRIES—North Carolina, 10- e e Jersey, 32-quart BIESNew Jersey, cultivated, 18 Nova Scotia, 1820 ‘per awary. C flats. 1.00-1.25. 1.00: " ventilated crates, BEETS—Pennsylvania, 20-30 per dozen bunches. PLUM arrived: per _ boxes, various varieties. LIM -bushel boxes, O 50 Vacbushiel baxes 5-1.75 "PINEAPPLES—C 350, . 30 per dozen bunches: . topped, 1.25; Ohio, 16-quart climax baskets. 50. BROCCOLI—Pennsylvania, bushel crates, bushel suNs—Ppnmylnnl- bushel Sfiat type, 75-1.00:" roind - type, 1Y%2-bushel bushel bas- lifornia. lugs. Thompson Seediess., "2.00-2.75; Red Malagas, Ta5e *%EARS—No carlot arrivals: one unbro- ken ‘car on_track. Californis. boxes, Bartetts, 3 BERS ., Fennsylvania, fair a baskets, 5 Pennsylvania, New Jersey, ONEY DEWS—No carlot arrivals; broken car on track. Californis, ard and jumbo crates, all sizes, 1 HON AL Califor one ANAS—Two cars arrived: two un- broken cars on track. HEADS BAYUK CIGARS. PHILADELPHIA, August 6 (#).— Directors of Bayuk Cigars, Inc., to- day elected A. Joseph Newman presi- dent of the company, in succession to Harry S. Rothchild. At the request of the board, Rothchild will remain with the company as vice chairman of the board. Newman was vice presi- dent and general sales TN AUGUST 6, and | 1937 Pullman Profits Reach $3.332,502 In June Quarter By the Associated Press. CHICAGO, August 6.—Pullman, Inc., and subsidiaries reported second- quarter net income of $3,332,502, or approximately 87 cents a share, com- pared with $1,493,717, or 39 cents, the corresponding period in 1938. First six months’ net income was $6,609,201, or approximately $1.73 a share, compared with $2,693,980, or 70 cents, the corresponding 1936 period. The earnings were the best the com- pany has reported in several years. For all of 1936 consolidated net was $6,347,107, or $1.64 a share. The 1937 figures did not include provision for surtax on undistributed profits. FREIGHT LOADINGS AT 762660 MARK Small Increase for Week Leaves Total 4.7 Per Cent Above 1936. NEW_YORK. August @ —The Asso- siated Press seasonally adjusted weekly index of freight-car loadings. based on adyanced today to 5. compared with 74.1 the previous wesk. and 161 & vear ago. Range of recent years i By the Associated Press. The Association of American Rail- roads reported today 782,660 cars of revenue freight were loaded during the week ending last Saturday. This was an increase of 11,680 cars, or 0.2 per cent, compared with the preceding week; an increase of 35,131, or 4.7 per cent, compared with a year ago, and an increase of 187363, or 31.5 per cent, compared with two years am. The report classified the loadings as follows: INVESTING COMPANIES NEW YORK Auzust Dealers” Assoc (Noon quo 6 P —New York on ons. ) Inc c DiVidend ‘shis Equily Corp S5 pf_ Fidelity Pund Inc_ Pirst Boston Corp Fiscal Fund Blnk Shrs "~ Fixed Trust Eiscal Pund Insurlnce Fixed e Found Tr Ry Pund xnu;ar; Inc suraice ¥ Stocks. Machinery ocks.” RR Equip N Y Stocks ' Simel 2 Notth Am Bond Tr cifs = 5 Nor Am T Nor Am Tr h Nor ‘Am Tr Sh 1958 Plymouth Fund Inc Quarierly Income Sh opf-Hutton & Selected Am S elected Income Sh Sovercisny Intesiors, - Spencer Trask S Am Stner of A Tr. BB r of Am Tr C __ of DL usteed hd\m-: nrsT™ Welington Fun FOREIGN EXCHANGES. NEW YORK. August f (P)—Foreign ex- chanze mixed: Great Britain in_dollars. others in cents: Great Britain—Den $955%: cables. 40K §0-day bills. 4 France. Demand, cabl Italy—D cables, 16.84 Serdiom: resisiered. Holland, 98 New York in n—Nominal. 0DD-LOT DEALINGS. By the Associated Press. The Securities Commission reported to- day these transactions by customers with odd-lot ‘dealers or specialists on the New York Stock Exchange for August 4: 5931 purchases involving 156.837 shares: 5.649 sales involving 147.415 shares. REGISTRATION STATEMENTS. By the Associeted Press. Registration statements for new securi- ties filed today with the Securities Com- mission_included: olg, Dust Mining & Milling Co., Colo- rado Springs. Colo.. $300.000 of $1 par value common stock, for developments and equipments and working capital. No un- derwriter named. RUBBER FUTURES. NEW YORK. August 6 (P —Crude rub- ber futures opened steady. 6 to 15 hi h- er. September. 18.85-86; December, 18.! March, 19.02-06. Montreal §00 03 4. Investments :l::: ::;und "n:t“u: 0 servatively appraised, new buildings in Washington and near- by Maryland. Denominations of $500 up. Interest 6% per c-n-n. Bradley, Beall & Howml Inc. Southern Bidg. Phone Nat. 0271 Established Nearly ¢0 Years FINANCLIAL UTILITY PROFITS WELL ABOVE 1% American Water Works Nets | $4,914,187 in 12 Months Ended June 30. By the Associated Press. NEW YORK, August 6.—American Water Works & Electric Co., a major public utility system operating prin- cipally in Eastern and Southern States, reported today consolidated net income for the year ended June 30 of 34,914,187, equal after preferred dividends to $1.59 a common share. This compared with $4.241,357, or $1.57 a common share in tie preceding fiscal year. United Gas Corp. for Southwestern natural gas and pipe line operations, reported consoli- dated net income for the quarter ended June 30 of $2,449.267, equal after preferred dividend requirements to 1 cent a common share. This com- pared with $2,416,686, or 1 cent a share, in the June, 1936, quarter, Electric Power & Light. Electric Power & Light Corp., a holding company, with electric and natural gas properties in Midwestern and Southwestern States, reported consolidated net income for the quar- ter ended June 30 of $2,178,233, equal after preferred dividend requirements to 22'% cents a common share. This compared with $1,283,084, or 7 cents a share on second preferred stock, in the June quarter last year. Associated Gas. Associated Gas & Electric Co. and its subsidiary, Associated Gas & Elec- tric Corp.. public utility holding com- panies, with principal operating prop- erties in Atlantic seaboard States, re- ported profit for 12 months ended June 30 of $2,535,150, compared with | $1,196.282 in the preceding 12 months. | Ohio 0il Co. ©Ohio Oil Co. reporfed for the first | s consolidated net income of | after charges, but before | Federal surtax, equal to 70 cents a common share. This compared with | $4.476.564. or 43 cents a share, in the like period last year. Hayes Body Corp. Haves Body Corp., Detroit, reported | for the June quarter consolidated net profit of $7.908 after charges. but be- fore Pederal taxes and surtax. This compared with net loss of $22,607 in the like quarter last year. Hercules Motors. for the June quarter reported net profit of $452.290, equal to $1.45 a common | 'share, compared with $138.660. or 44 cents a share, in the like quarter last year. Natomas Co. Natomas Co. and subsidiaries re- Ported June quarter net profit of §215.- 429 after charges but before Federal June quarter last year. American Potash. American Potash & Chemical Corp. and susidiaries reported estimated net income for the six months of $1,213.- 788. or $2.29 a share, compared with $828.832, or $1.57 a share in the like period last year. Van Raalte Co. Van Raalte Co., Inc., hosiery pro- ducer, reported for the six months net income of $460,582 after charges but before Federal surtas equal to $3.09 a share, compared with $420.- Union Bag & Paper. Bag & Paper Co. reported aet fit for the June quarter of $304250. equal to $1.16 per share earnings. For the June quarter vear $10.618. equal to 4 cents a share. For the 12 months ended June 30 the company reported net profit of $950.- 390. the equivalent of $363 a as compared to $278923, and $1.06 a share for the previous 12 months, Unio U TREASURY NOTES. NEW YORK. Aul . auoted in doilars ang thirty-seco Pet NEW YORK BAR SILVER. NEW YORK, August 6 silver steady and unchanged at,44% Construction Loans With Conversion Privilege All in One Operation and Only One Reasonable F Builders can now finance con- struction and satisfy their pur- chasers upon completion without seeking a new loen. SHANNON & LUCHS Morteage Loan Correspondents INVESTORS SYNDICATE 1505 H St. N.W. Natl. 2345 First Mortgage Money For CONSTRUCTION LOANS and LOANS ON IMPROVED PROPERTY in the Bistrict of Colambia Nearby Maryland and Virginia Prompt Action B. F. SAUL CO. 925 15th Street Natl. 2100 United Gas Corp., holding company | Hercules Motors Corp., Canton, Ohio, | surtax. compared with $282.315 in the | 414. or $2.77 a share in the like 1936 | | period. | share, | (). —Bar PRICES BOOSTED ON STEEL SCRAP Lead, Copper and Zinc All Move Higher Again in London Trading, By the Assoctated Press. NEW YORK, August 6.—A new ad jvance in the price of steel scrap in | Pittsburgh today directed attention to strength in metal prices in domestic and foreign spot and futures markets, No. 1 heavy melting scrap was ad- vanced 50 cents a ton to $22, a new high since early Spring. No. 1 rail- road scrap was boosted 75 cents a ton to $22.75-$2325. Scrap prices are regarded in business circles gen- erally as an accurate barometer of the health of the sbeel business and in- dustry in general With trade sources reporting littla metal available for immediate delive ery, the domestic price of zin marked up onc-quarter of a cent pound to 7.25 cents, East St. Louis. Lead, copper and zinc we in the London metal market uation of a move that commenced 1? t week. Heavy demand, both domestie and foreign, was reported Visible stocks of both lead and zinc were | said to be at low levels. July zinc production, the American Zinc Institute reported, totaled 49,181 short tons, compared with 50,526 in June and 45481 a year ago, Ship= ments amounted to 49,701 tons, against 50,219 in June and 41,819 in July, 1936, and stocks on hand wers 13,561 tons, compared with 14,081 at the end of June and 88,517 last year. Early sales of copper for export wera reported today at 14.675 cents a pound, slightly higher than yesterday's fig- ure. Demand was heavy in the Lon= don Metal Exchange. The domestic price remained at 14 cents a pound. | STATEMENT IS ISSUED BY NEW YORK RESERVE By the Associated Press NEW YORK. August 6—A drop of about $147,000,000 in member bank deposits, technically known as reserve balances, was shown in the weekly condition statement of the Federal Reserve Bank of New York The decline accompanied an 1n~ crease of about $16,000.000 in Unite | States Treasury S. apparently resulting chiefly from sale of short. term bills, and a gain of around $12.- 1000,000 in circulation of Federal Re= serve notes bank borrowings increased in con! d of United St tions were u gate. Tht condensed st obliga« aggre- d in the 934.036.000 2 £00.003.000 3.063.2 tal reserves to deposit and note liabilities combined, £3.7 per —e. MON TBEAL SILVER. A teacy and 4 Burglar-proof Chests STOCKETT FISKE PRODUCING STATIONERS DIDE S \nchanaed 41.100; S1st Year of Progress last | the company earned a profit of First Trust Loans For Purchasing a Home or RE-FINANCING EXPIRING TRUSTS NO COMMISSION CHARGE NO RENEWALS REQUIRED Terms Arranged on Easy Menthly Payments MIMBIR BUILOING § LOAN ASSOCIATION COUNCIL of O.C. NATIONAL Permiarnienl | BUILDING ASSOCIATION DER SUDERVISON U.3. TREASURY / - \—_5‘“’1.!1.‘1} = /lcllil INVESTIGATE INTERSTATE Hundreds of Washing- tonians now enjoy the benefits of saving here. Every account vp to $5,000 is fully JUH tflx And liberal dividends are credited every six months.Inquiriesinvited. Under Supervision of the United States Treasury Jnieufaia BUILDING ASSOCIATION Washington Building 15th St. & New York Ave, District 9486