Evening Star Newspaper, August 11, 1937, Page 19

FINANCIAL., CURB LIST DRIFTS TOLOWERLEVELS Main Trend Is Downward, but Some Issues Hold Small Advances. B the Associated Press. NEW YORK, August 11.—The main trend in share prices on the curb ex- change was lower today, but some is- sues held gains of fractions to more than & point in late dealings Aluminum Co. of America Was up more than a point and fractional ad- vances were recorded in Creole Petro- leum, International Petroleum, Hudson Bay Mining and Bower Roller Bearing. Utilities went both ways in a narrow range, with small gains in Consoli- dated Gas of Baltimore and Electric Bond & Share $5 preferred balancing Josses in Niagara Hudson Power and United Gas. Mining shares lagged with prices abroad. Consolidated Cop- per. Newmont and Eagle Picher were * off fractionally. CURB BONDS DOMESTIC BONDS. Low Rasy Noon N4y 10435 1043 1011210134 106 100 = 2 Toledo Edis_5¢ Iwin C RT 53 en & Co 55 ‘4 Unit LikPw R D F Yadkin Riv P 5 York Rwy Co is FOREIGN BONDS. 108 86 043 100 Bantiag Ch ww— Wit rants n Negotiab $Compaines Teported in 1eceivership, SHORT-TERM SECURITIES. (Reported by Chas. D. Barney & Co) : Bid. Ofter. Ne i 6875 Baldwin Loc. Wks California Packing 104 d & O 1035, 1071 1067y 102 1083, i Toufville & Nas Michigan Central 45 1940 Midland R, Mil Pacific R R. Mo. 4s 1038 Penn-Dixie Cement Ke 1641 Penna R R Co. 45 1043 Rio Gr Western 4s 1930 Ter. R Asn St. L_41.s 1939 Vanadinm Corp. 55 1041 Jertientes Sugar Co. 7c 1042 Wabasn Fwv Co b 1 er Bros. A 1030 Western N V. & Pa. 45 1043 ‘Western Union Tel. 55 1938 U. S. TREASURY NOTES. YORK. August 11 (P —Prices in doliars and thirty-seconds: - Month, Year. Sep NEW ouoted Per Dec 41 Mar.. 1942 100:34 FOREIGN MARKETS. LONDON. August 11 ».—The stock market closed quiet after an early wave of rofit taking had been absorbed. and prices eld at the lower levels. Few rallies of importance took place ‘and the trans- Atlantic section remained quiet and lower. There was decided weakness in rubber, mining and tobacco issucs and the indus: 1 shares were generally easier Home s held steady. reflecting the firmness in trafc index Seures heavy tone prevailed through- today’s session in the Bourse as_sell- 3, Jeading’ issues ' continued. Prices near the lowesi of the day with the !xupllgn of the coal groun Rentes de- to 25 centimes. Suez Canal dropped ancs and Rovai Dutch finished 80 flnu Io'er, Bank 47p srancs Fairchi By private wire direct to the Btar. Stock and Sales— Dividend Rate. Add 00. Ainsworth (%g). 3 Alum Co Am 2508 Alum Co pf (6)_- 50s Alum Ltd - 4008 Am Box Bd(.95g) Am Capital (B) . Am Centrifugal . Am Cit P&L(3h)_ A CT&L B(.30g). Am Cyan B (.60). Am Fk & H (1a) - Am G & EI(1.40)_ AmGen _ Am Inv (111)1.60_ Am Laun M 8oa Am MIg (28)..__ Am Maracaibo __ Am Meter (113g) Am Seal Kap Am Sup Power. Am Sup P pf ‘Anch Post F' Ark Nat Gas Ark Nat Gas Ash1d O&R(.40)_. As 11 Ind (3648)- High. Low. Close. 13% 13w 134 155'4 154 1554 1y 117 uv 121 11715121 2015 20's 20': ®# 8, 3y 34 34 A*\u Laun of \rl\ Atlas Atlas Ply (1%& .. Austin Silver M_. Automat Prod Auto V Ma(%a)_ Axton Fis A____ Bahcock& W (3g). Rald Bond rt (r)_ Baldwin Rub .50 Bardstown Dis Barium Sta Stl Bath 1 W(6%1)_ 100y 233 126 1008 1008 Bl Rid cv pf(3h)_ Blumenthal (S)_. Rower It F Bow Bilt H Braz T&L (.90g) - Bridept Ma(1g) Brillo Mz A (2) Brown Co pf Bro'n F&W 1.05g Buckeyve PL(3g) BN&E P pf 1.60 Bnk H1 & S(113). Bur Ltd(.1628) = Cab EI Prvie Cab & Wire B | Can Hydro El pf - Can Mare Wire _ 7 3 Cities Sve pf B _ Cit Auto St(.30g) Claude Neon Lt__ Cleve Tract _s_ Colon Develop . Colon Devl cv pf- Col Fuel&] war ColtsPatF (11ag). Col GRE pf(5)__ Colum O & G . | Comlth & So war._ | Compo Sh vie(1). l‘('n(( rm AMin Cons Gas Utll. Cont Oil Mex__ Cooper-Bess Copper Range Cord Corp Corroon & Rey sden Petro _ _ Creole Pet ('3g)_ Croft Brewing Crown C Pet __ Cr'n Ck Int A(1). Crown Drug_ Cusi Mex__ Dayton R A (3K) Dejay Strs (.80) Dennison Mf 1 pt Derby Oil DraperCp(2.40a). Driver-Harr 114 _ Duro Test (.40)__ Duval Tex___. gle P Ld .30g .. mp Power (1K) - y Corp _ Wallo ell-0 C 1 Av Falstaff Brew ___ Ferro Enam (%g) Ford M Can A (1) Fd M Ltd(.213g) _ FroediGevpf1.20. Gen Firepfg .55 Gen Rayon (A)_— Gen Tel (338)_. GenT& b Gen W G&E war Georg Pow pf(6). Glen Alden (%g)- Grand Nat Films. GrRap V (1).__- Groc Str Prod . Gulf o1l (Y5g)___ Gypsum L &A Hall Lamp(.20g). Hazeltine (3) Hn D Strs(1.65g) Hecla Min (.70%). Helena Rub A(1) Heller pfww 1.75 Hoe(R)&Co A __ Horn&Hard(2) Hud BM&S (). Hummel RF .40g. Hygrade Fd 11l Towa Pow._ 11l lTowa T‘owpt_‘ 111 1a P div ct Imp Can(lza) Ind Pipe L(.30g). InsCN Am(2a)-. Inter Pet(1%4a) .. | Inter Rad (.83g)- Inter U1 B.____ Int Home E(.44)_ Inters Pw Del pf_ Irv Air Ch (1) ___ Jacobs Co (%g) . Ken Rad T(%g) - Kingsberry Br Kingston Pr(.40) Lake Sh M (4a) __ Lakey Fdy & M_. Le Toureau (1) _ Lehigh C&N(.30) Leonard Oil Lion Oil (1a) Lit Bros __ Locke S Ch(.80a) Lockheed Airc Long I L pf B(6). Loudon Pack _ Louis L&EE(.40) _. Lynch Corp(3g) - McCord Rad B __. McWilI's D 1.25g. Marion St Shov._. Massey Harris__. Mass Util Asso__ Master Elec (1).. Mead John (3a)... Mesabi Iron Mich Bumper Mid St Pet A vtc. Midvale (2g) 508 Mining Corp Can 1 Minn M&M(.90g) 100s Molybdenum .__ 2 Moore (T) Dis___ Mount City Cop .. Mount Prod (.60) Nat Bellas Hess. 3 Nat Bd&Sh(%g). 400s Nat Contain .76g- Nat Fuel G (1) ... Nat Mfg & Strs _ Nat Oil Pra<{.80g) Nat P & Lt pf (6) Nat Rub Mch Nat Sug Ref (2 NavarroOil(.40a) NMex&Ariz __. NewmMin(1%g) C Omnibus wr NY&HRos(1%g) 3 21 100s 29% 29‘. 29% N Y Mer (.80a)__. 2 14 14 14 (\Y P&Lt pf (7).. 208 109% 109% lofl) $3.26. . | Silex ¢ " | Spencer 8 1.0 4| Unit Corp war.__ THE EVENING STAR, WASHINGTON, NEW YORK CURB MARKET 2:30 Stock an Bales— Dividend Rate. Add 00. NY Wat Ser pf__. 1008 Niag Hud Pow Niag Hud B war _ Niles-Bem-P(1g) Noma El (.40g) _ Nor Am Lt&Pow. Nor Am L&P pf __ NAmR A (1. N Cen Tex(.1 High. Low. Clese 308 305 300, 13% 13% 2% 24 551, 55 % 7% 31 54 495 5% W 240 32w 5816 31l 13% i 301y 24% 32's 581y 111 134 B 3014 45 T 281 Novadel-Ag (2)_ O Brass B(11g). Ohio Pow pt (6)_. Okla Nat G Overseas § Pac GERE1pf 114 Pac Tin spl (2a) Pantepec Ol __, ParkbgR&R .80g. Pennroad (%e)__ *a P&LLpf (7) I‘a Wat & Po (4)- Pepperell (6a) Pharis T & R .60 Pierce Gov .30g __ Pines Winterf't _ Pioneer G1d(.40)_ | Pitney-Bow (.40)_ Pitts P Gl(434 &)~ Pleas Val W.15g. Potrero Sugar Powdrell&A . 110 L !nl(lflllnv P S Ind $6 pt PS1Ind$7prpf _ Pug S P $5pf6ick Pug Sd P $6 pf Pyrene (.20g) - Raytheon Mfg _ Reli'co E&E 3 Reyharn Inc mg Rio Gr V G vt Root Pet (4 g) Rustless 1 & S Rus 1&C cv pl2iy Ryerson& H. ___ St Lawrence Ltd. St Regis Pap St Regis Pap pf . 6 14% 49 4 134 By 10815 30 | Segal Lock Seiberling Rub.__ elected Indus el Ind prpf 34 i eton Leather __ 1 8 | Seversky Airc. __ Shattuck Denn Sherwin-Wms ¢a immons H&P__. | erations principally in Middle Western | 0 | 40 | 20 | and Dredg tOIl Ky (1a) t 01l Ohio (1) :‘fl)‘:“lxlt 3 i unray Oil .1 Taggart O ]II~.I Tastyeas z 1 1 Taylor K Dist . 4 chnicolor .50g - Tech-H G (.40a) - | Thew Shovel ___ 23 2 | Tilo Root (1) } x| Tob Pr Exp .15e 3 Trans w | | | | Tubize Chat Tung-Sol Lamp . Tung-Sol L pf.80. Union G Can .60_. Unit Gas __ Unit Gas war Unit Gas pf (7) - { Unit Lt & Pow A_ Unit Lt& P ev pf Unit Molas .182g . 4 | Unit NJRR&C 10 Unit Pr Sh (.10g) it Shipyds A Unit Shoe M 21za Unit Sh M pf 115 | Unit Spec (1.40) _ 3 | | USFoilB (%g)- 3 i 31 131 | US Linespt _~ 2 ) S Play Card 1a Stores TS Strs 1 pf Unit Ver Ext 1g_ Unit Wall P .15g. Univ Corp vte Util Pw & Lt (r)_ | Venez Mex Ol __ ke 0 Venezuela Petrol. o | Vogt Mig (8ug)_ Wagner Bak 80g. Wayne Knit M __. Wellington 011 Wentw’th M .15g. West VaC&C . Willson Prod (1). 15 Wolverine T .40g. 12 Wright Har .40a_ ¢ Yestn St1 D 2.50g 7 T4l Yukon Gold .06g_ 3 3 r In bankrupicy or receivership. or heml reorganized under the Bankruptcy Aet. er securities assumed by such companies. Rates of dividends in the foregoing table are annual disbursements based on the last quarterly or semi-annual declaration Un- less otherwise noted. special or extra divi- dends are not included. a Also extra or extras £ Payable in stock far this year. U U i T Rig 9y 47 | EiS 15% | 125 | 6y Tcu x s A o s e Paid last year % Declared or paid so no regular rate. h Cash OF gtock o NApcumulated dividend paid | or_declared tais y —With war- rants. xw Without war War- arrants, | rants NEW PEAK IS SET BY OIL PRODUCTION | | Petroleum Institute Estimates Daily Average Up 59,250 Bar- rels as Consumption Soars. By the Atsociated Press. NEW YORK. August 11.—Grude oil | production swung up to a new record peak in the week ended July 7, the American Petroleum Institute stated vesterday. Output jumped 58,250 barrels daily to 3,651,150 barrels. Production east of California continued to supply the bulk of the increase, rising 48.350 bar- rels daily to 2,980,650. Trade sources explained August is | usually the best month of the year, | and pointed out the Department of Commerce estimated August consump- tion would top the same month in 1936 by 14 per cent. Stocks of finished and unfinished gasoline were heavily reduced, The total at refineries, terminals and in transit dipped 1,656,000 barrels to 69~ 216,000 barrels. The current level compared with 83,500,000 barrels in March before the heavy consuming Season started. Refinery operations declined some- what from last week's high point to 83 per cent of potential capacity. Proc- essing was started on 3,340,000 barrels of crude daily, against 3,425,000 a week ago. Cracked gasoline production fell 30,- 000 barrels daily to 745,000 barrels. Imports of crude and refined oils totaled 935,000 barrels for the week, against 1,405,000 barrels the week be- fore. CAR PRICES INCREASED BY PACKARD AND NASH By the Associated Press. DETROIT, August 11.—Packard Motor Car Co. notified dealers today of an increase in retail prices ranging from $65 to $200, effective August 16. Nash motor car prices will be in- creased $36 to $85 August 14. _ Wisconsin Power & Light Co.— Preferred share earnings, six months ended June 30, were $3.04,. against A | for the June quarter reported net in- | come of $1,018,161 before the undis- | quarter. | ended June 30 of $4.398.737, | Federal |30 of $5.23¢,040, { tax, equal to 47 cents a share on com- | controlled by freezes in the Southeast. . | Per cent higher Basic_Industry | AMERIGAN CHAIN EARNS §1.320247 Six Months’ Net Compares With $1,221,335 in Same 1936 Period. By the Assoclated Press. NEW YORK, August 11.—Amer- ican Chain & Cable Co., Inc, with | plants in the Midwest and East, for | the six months ended June 30 reported today consolidated net profit of $1,920,- 247 before the undistributed profits | surtax, equal after 5 per cent pre-| ferred stock dividend requirements to $1.83 a share on 924362 common | shares. This compares with net profit | of $1,221,335 in the like 1936 period, | equal after dividend requirements on the 7 per cent preferred stock then out- standing to $3.69 a share on 250,221 | common shares, Spang Chalfant & Co. Spang, Chalfant & Co., pipe manu- facturers a¢ Etna and Ambridge, Pa, tributed profits surtax, equal to $1.10 & common share, against $590.991, nr‘ 53 cents a share in the like 1936 | Pittston Co. Pittston Co., Pennsylvania coal oper- ator, for the six months ended June 30 reported net loss of $1,191,438 after | charges, against net loss of $581,328 in the like 1936 half. Vulcan Detinning. Vulcan Detinning Co.. maker of tin products in New Jersey and Penn- | sylvania, for the June quarter reported net profit of $121,930, equal to $2.95 a common share, against $66.497, or $1.23 a share in the like 1936 quarter. Cities Service Co. Cities Service Co. reported consoli- dated net income for the six months including surtax, compared with $4,- 219,646 in the first half of 1936. United Light & Power. United Light & Power Co., with op- States, reported consolidated net in- come for the 12 months ended June before Federal sur- bined class A and B common stock This compared with adjusted net in- come of $3,964.275 or 10 cents a share in the preceding 12 months. Continental Gas. Continental Gas & Electric Corp., United Light & Power Cu. reported consolidated net income for the 12 montns ended June 30 of $4.587.393, equal after preferred divi- dends to $1523 a common share, com- pared with revised net income of $3,- 993,437 or $12.46 a common share in the preceding 12 months. OFFICIALS RAISE PEACH ESTIMATES » Burcau Predicts Production 24 Per Cent Larger Than Total Last Year. By the Associated Press The Bureau of Agricultural E(’o-‘L nomics predicted yvesterday the sea- | son’s production of peaches would reach 59.018.000 bushels, despite heavy This figure, 2 per cent higher than the forecast of a month ago, is 24 than the 1936 crop and 3 per cent greater than the 1928- 1932 average. The report predicted increases for |k all sections except the South and | Western States The crop in Georgia was estimated at 2,652.000 bushels, less than half last year's production of 5.589.000 and the five-vear average of 6,087.000. Pennsylvania was given 2,904,000 bushels, against 799,000 last vear and an average of 1813,000. In Arkansas, which had a crop of 1.012,000 last | year and an average of 1,591,000, the 1937 forecast was 2,197,000, INVESTING COMPANIES NEW YORK. August 11 (P.—New York 8ecurity Dealers’ Association (Noon quotations.) Asked. Admin Fd 2d_Inc Am Business Shrs Am Gen Eq Inc Ins Stocks Bankers ‘Nat Iy Corp Boston Fund lnc Broad St Inv Bullock Pund Corporate Trust Corporate Trust A A~ Corp Tr A A mod Corp Tr Accum, Ser Corp Tr Acc_Mod Cumulative Tr 8h Depos Bk Sh N'Y D('un\ Ins Shrs A’ Depos Ins Shrs B' Diversified Tr C Dividend Shrs Eauity Corp $3 pf_ Fidelity Fund Inc Elist. Boston Corn Fund Investors Inc” Fund Tr Shrs A z Fiind T Bhes General' Capital CurD Gen Investors Groun "See Agriculture Group Sec Automobile Group " Sec Building Group Sec_Chemical Group Sec Food 2 Group Sec Invest Shrs _ Group Sec Merchandise Group Sec Mining Group Sec Petroleum Group Sec R R Equip Group Sec Steel Group Sec Tobacco_ - Huron Holding Incory Investors Instl Sec: Bank Group n; Instl Sec: Investors Fd "C In, Keyston Cust Fund B- Major Shrs Corp- . Elec Equip__ Stocks. Insurance ks. Machinery Northern " Secur Flymouth Pund Inc Quarterly Income Schoellkont-Hutton % pom bt lected Am Selected Income 8h ey {Gnhrqfln | Huron | Indianapotis F%s Sovereign Investors Spencer Trask Fund Stand Am Tr Shrs Stand Util Inc Super of Am Tr A Super of Am Super Super uper Suber of Am Supervised Shrs Trustee Stand Inv ¢ Trustee Stand Inv B Trusteed Am W Tristeed Tndumtry Shrs Wellington Fund _ ) PR ITYNEIGN ety 2 » XHR3ZA33URILEISBE2[383 2= RAIL HEARING SET. The Interstate Commerce Commis- sion set September 27 today for a further hearing on the reorganization proceedings of the Missouri Pacific Railroad Co. [} Quarters Ended March31 | oOuaRs DEFICIT D. C, WEDNESDAY, AUGUST 11, 1937. Quarters Ended June 30 =]l Quarters Ended September 30 FINANCIAL. Net Income of General Motors Corp. wmition Quarters Ended DOLLARS December 31 90 S Wesson Oil Votes 8715-Cent Extra On Common Stock By the Associated Press NEW YORK, August 11.—Directors of Wesson Oil & Snowdrift Co , makers of cottonseed oil products, with plants principally in Southern States, an- nounced an extra dividend of 87%% | 1oacening up of the capital market was cents on the common stock, payable August 25 to stock of record August 14 $112'. and the regular quarterly dividend of 12!, cents on July 1 l THE WEATHER District of Columbia—Partly cloudy, possibly local showers and thunder- showers tonight and tomorr not much change in temperature; gentle to moderate southwest winds. Maryland and Virginia—Local show- ers and thundershowers probable to- night and tomorrow; not much change in temperatur West Virginia—Probably local show- ers tonight and tomorrow; not much change in temperature. River Report. Potomac and Shenandoah very cloudy at Harpers Perry; muddy at Great Falis. Tivers slightly Revort for Last * Tempe Yest Desr 1 M i’ N N Today am am z on No Record for Last 2 noon =0 5 1 Hours (From vecterday ® Year ago. Lowest. age. A% 6 am. today. Record Temperatures This Year. Hishest 96 on Julv Lowest. 14 on Pehrua Humidits for Lact 21 Hours 57 per cent Tide Tables. Purnished by United Staies Geodetic Suriey ) Todav 11 n Coast and Tomorrow 114ipm 1 A 0% pm 51 The Sun and Moon. Riges. Sun Moon A todar tomorrow toda omonile lights L hour after s 5 1% 1042am be set. 0 Precivitation. December 3 ‘Weather in Various Cities, Stations Abilene. Tex... Albans. N Bosto | Biftaio Chicago. El Paso. Mont S Dak Helena, cksonsille Phifadeiphia Phoenix Ariz Pittsburgh Raleigh. 'N. Selt Lake Cit San _Antoni San Diego. Cal. San _Francisco St. Louis Mo Seattle. Wash: V64 ¢ 83 0.04 LS Foreign_Stations. Temperatire. Wenther {7'am. Greenwich time. toda - Clouds Stations. London. England Paris. France Vienna. Austria Berlin, Germany _ Brest. France Zurich, Switzerland Stockholm. Sweden ~_” Gibrajtar _Spain 9 Noon Greenwich time. Horta (Faval). Azores Current observations.) St_Georges, Bermuda__ §an Juan P R. Havana_ Cub Colon. "Canal" Zone Cloudy Cloudy Cloudy Cloudy DAVEGA SALES RISE. NEW YORK, August 11 (#).—June sales of Davega Stores Corp. increased 6.3¢ per cent to $1,068,664 from $1,.- 004,912 in June last year. For the quarter ended June 30 sales totaled $2,869.062, against $2,575,679 in the like 1936 quarter, an increase of 11.39 per cent. — o BUYS FACTORY SITE. NEW YORK, August 11 (#).—Arm- strong Cork Co. of California, & sub- sidiary of Armstrong Cork Co., Lan- caster, Pa., has purchased a 26-acre factory site in suburban Los Angeles, Calif., to pave the way for expansion of facilities when desired. o HOSIERY SHIPMENTS UP. NEW YORK, August 11 (#).—June hosiery shipments totaled 9,936,271 dozen pairs against 9,785,687 dozen in May and 8,846,704 dozen in June, 1936, the National Association of Hosiery Manufactures reported. INVESTMENTS REVIEWED. NEW YORE. August 11 (Special).— Distributors’ Group, Inc., has pre- pared its quarterly review of the status of investment company bonds The company paid an extra of | turned on | BETHLEHEM PLANS $48,000,000 ISSUE Convertible Debentures Will Aid | Plant Expansion and Redeem Other Obligations. By the Associated Press. NEW YORK, August 11.—Further | evidenced yesterday by the announce- | ment of Bethlehem Steel Corp. of a | forthcoming issue of $48,000,000 in convertible debentures. The money, it was said in steel cir-! cles, will be used for plant expansion and redemption of outstanding obliga- tions. Eugene G. Grace, president of Beth- lehem, said the new securities will probably be ready for sale around Sep- tember 1. The interest rate and other | | details will be announced later. Grace said the registration state- ment for the debentures would be filed | with the Securities and Exchange | Commission shortly. Stockholders will be given the pri lege of subscribing to the debentures | at the rate of $15 face amount of de- bentures for each share of common stock Two issues have been called for re- demption by Bethlehem—the first of 1942, of which there are about 800,000 outstanding, and around 800,000 outstan | wanna 5s of 1952 ceeds from the debentures will be ap- | | plied to the redemption of these issues 55 $6,- g of the old Lacka- INSURANCE STOCKS NEW YORK August Becurity Dealers Atsociation Aetna Cas | Aetna Ins Aetna Life (f0a) Am Equit (1 f0a) Am Ins Newark (1 Am Reins ( R0g Am Reserve (la) (7a) Am Surety (215) | Automobile (1a) Balt Amer ( | Contin”'Cas | Fid & Dep | Eiremen « | Prank_Pire Gen Reinsur ¢ ; | Gien Falis Globe & Rut Great Amer (1) | Homest Knick | Lincoln Fire Marsland Cas (1.20a) tra or extra red or paid so far this year. s 18 PER CENT INCREASE SEEN IN RICE CROP By the Associated Press. The Agriculture Department pre- dicted vesterday a rice crop 18 per | cent higher than average and 8 per cent higher than 1936, based on the August 1 crop condition. It fixed the probable production at 50.508,000 bushels, of which Louisiana, Arkansas and Texas should produce, it said, 40,344,000 bushels and Cali- fornia 10,164,000 bushels. The department said progress had been “generally satisfactory” in Ar- kansas, but that “an acute condition might develop in Louisiana from salt water if ample rains do not come soon.” NORTHERN SECURITIES DISSOLUTION APPROVED By the Associated Press. HOBOKEN, August 11.—The North- ern Securities Co., first of the great holding companies of this country, but in fecent years a mere shadow of its old power, was dissolved today at a special stockholders’ meeting. This dissolution session, held in a tiny water front building, was a con- trast to the organization of the com- pany in 1901 following the stock mar- ket battle between E. H. Harriman, the Union Pacific and James J. Hill, J. P. Morgan's ally in the control of Great Northern and Northern Pacific Rail- roads. TOKHEIM NET JUMPS. NEW YORK, August 11 (Special).— Tokheim Oil Tank & Pump Co., Fort ‘Wayne, Ind., for the six months ended June 30 reports net income of $357,180, equivalent to $1.98 a share on 180,280 shares of capital stock outstanding June 30. This compares with net of | $123,040 earned in the first six months | of last year, equivalent to 68 cents a | share, SCHOOL BONDS SOLD. COLUMBIA, 8. C., August 11 (#).— Breed & Harrison Co. of Cincinnati, Ohio, heading a syndicate, was the low bidder yesterday on a $500,000 bond issue for a building program in | the Columbia city school system. The bid was 3% per cent with & $5350 | premium. RUBBER FUTURES. NEW YORK. August 11 ().—Crude rub. Ber, Jutures opened quiet, 3 10 11 lower. Beptember. 18.41-4 mber, 18.560; March, 18.68-69. ODD-LOT DEALINGS. ‘The Securities Commgksion reported to- day these transactionsfby customers with 0dd lot dealers or spedilists Durcnases. inveiviag 1B pu v T Everving 135,99 Some of the pro- | ° Same period I st Places Apple Production Far Above 1936 By the Assoclated Press The Agriculture Depariment nounced yesterday crop conditiens on | August 1 indicated a 1937 national | apple mudurunn of 202274600 bush 1.K compared with 117,506,000 bushels in 1936, | The average from January 1, 1928 to Dlr:mbfx 31, 2, was 164,355,000 ushels. | est and op con- during Foreca an- fountain regio mproved noticeably the Department said Anticipated yields, the 1936 produc- | tion and the five-vear average of the ates included 800.000. 11,876 000 and vlvania. 15,300,000, 05,000 and 9.809.000: Virginia, 18,- 720.000, 8.500.000 and 13 116,000, | CHECKS ON INDIVIDUAL BANK ACCOUNT GAIN | By the A | NEW 3 4 o 1dividual and corporate | ba {up 7 per ce in the period er by Federal Reserve Board indi Financial circles ex the up- turn as the normal response to heavy month-end transactions such as ren payment by the individual and ir est and wages b ended August 4 3 ous week .hfl 868,000 515,046,000 GETS BUICK CONTRACT. NEW YORK, August 11 () —Mid- land Steel Producis Corp. has been awarded a contract by Buick division lof General Motors Corp. to supply frames during the 1928 model year for constituting more than 70 per [ cent of Buick's output | | FIRST TRUST I.OAIIS Reasonable Rates and Commissions Tyler & Rutherford, Inc. 1512 L Slu!l N.W National 0473 an Correspendent Mutun Benens " e Insurance Co. Let Us Prepare a Complete Program of lNSURANCE Giving vou ful tection maty write 1 coverage against all emergen, what vou may need. we can May we serve you? J. Blaise de Sibour and Company INSURANCE BROKERS 17006 Eye St. N.W, Natl. 4673 d pro- | of 889503, against | income *¥3 A—19 ANCHOR CAP NET RISES 10 §2620 ‘Quarter’s Total Compares With $190,776 for 1936 Months, By the Assoclsted Press, NEW YORK, August 11 —Anchor | Cap Corp. makers of botile and jap stoppers, with plants in New York, New Jersey, Pennsylvania and Canada, for the quarter ended June 30, rea ported net income of $262.072, equal after preferred dividends to 71 cents A common share, agal $190.776, or 52 cents, in the like 1936 quarter, Bucyrus-Erie Co. Bucyrus-Erie Co., manufacturers of power shovels and excavating mae chinery at South Milwaukee, Wis ; Erie, Pa., and Evansville, Ind, for the 51X months ended June 30, reported net income of $601.761 after the Fede eral undistributed surtax, equal to 30 cents a This compares with profit of $469.879. or 19 cents & common share, in the like 1936 period Chicago Pneumatic Chicago Preumatic June quarter, rej net profit of $440,321 distributed profits surt Tool. Tool Co orted consc before t tries having Profi was equal share. In the like 1936 quarter net profit was $290.405, or 66 cents a common share, includ- ing approx $50,000 earned in ving exchange re- strictions. Cheeker Cab Manufacturing. Checker Cab Manufacturing Co. and subsidiaries, taxicab builders and op- erators of cab fleets in principa for the June quarter reported net loss profit of £381464 before Federal income taxes in the like 1936 quarter. Bowman-Biltmore, Bowman-Biltmore Hotels Corp the seven months ended July orted profit of $103181, a Xes, interest .,murnulmn and loss of $4,690 . for income taxes, in the like 1936 Atlantic Gulf. Atlantié Gulf & West Indi ship Lines reported consolid June 30 of surtax, equal to 52 46 a share on 99.700 shares of 5 per cent cu This compared equal after preferred ments to §1.10 a share ¢ mon shares in the ] ferred 150,000 com- 36 pf"ud. NEW YORK SIJGAR 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 TO PURCHASE, BUILD OR REFINANCE Interest as Low as Easy Monthly Payments as low as $7.50 per $1,000. No commissions or renewals. may be paid monthl our economical loan COLUMBIA BUI 716 11th Street ON IMPROVED Taxes y. Investigate plan. LDING ASSOGIITIOII Opposite Palais Royal D. C. PROPERTY Immediate attention on your appli- cation for buying, rebuilding or refinanci Loans re ng. payable monthly. No charge for appraisal if loan is not made. Interest charged only on unpaid balance of principal. EQUITABLE CO-OPERATIVE Buwpime A SSOCIATION 915 F STREET N.W. Organised 1878