Evening Star Newspaper, August 16, 1937, Page 17

FINANCIAL. THE EVENING 7 4 STAR, WASHINGTON, JAPANESE BONDS REGISTER LOSSES Declines in Corporate Issues Also Range as Much as 3 and 4 Points. Bond A\’cragcs 10 10 Ralls. Indust. UL, Fsh Net change Upc. Unc. Unc Today, noon 9131031 985 Prev. day . 9131031 985 Month ago 2.8 102.9 Year ago._. 94.11035102.7 1937 h.gh 99.0 10441028 9091022 958 98210441031 8691018 993 458 400 646 -101.1 98910291 10 Ln\\-Yi\‘ld Bonds. Noon 111.2 Prev. day. 111.3 Month ago 110.6 Year ago_ 111.8 1937 high. 113.7 1937 low.. 108.4 1936 high_ 113 1936 low.. 110.2 1928 high. 104.4 1932 low__ 86.8 (Compiled by the Associated Press.) By the Assoclated Press 131481964 _ By private wire direct to The Star. Approximate Transactions Today. U S Gov't Bonds 280,000 Foreign Bonds____" 1.060,000 Domestic Bonds. 3,780,000 TREASURY. High. Low. 215194953 8 9R, 101, 100.4 100.6 101. 2%,81956-59_ 2748 1955-60_ 381046-48_ 38 1951- 3148194 3181941 3305 1944-46_ 451044-54 4183108 4345 4308194752 _ FEDERAL FARM MORTGAGE. 381047 103.30 103.30 103, 103.12 103.12 103, HOME OWNERS’' LOAN. 2N W 1042-44 100.20 100.20 100.20 10150 1015 101 102.27 10 102.27 FOREIGN BONDS. Hizh, 100.6 101.3 106.24 116.24 106. 1 1 5 4 4 Low. Close. Abitibl Pa&Pw 5853 a9 99 Asr Mtg Bk Col 6s°47 * Agr Mtg Bk Col 648 Antioquia 7 Antioquia 7s ‘4 Antioquia ist 7 131 1235 2% 12w 1017 Argentine 457 941, 941 NEW YORK. August 16.—Further selling in Japanese government and corporation bonds on the Far Eastern war news stretched losses to’as much as 3 and 4 points in late trading today Japan 6',s were off more (han points at one time in extension previous losses and the Japan dropped more than 4 to around Losses of 1 to 3 points or so also were registered in Japanese utility and municipal iss United States Treasury shalle2 a little rallying trading proceeded and some in late dealings were up 3-3. 6-32ds. However, top grade corporate loans mostly were a bit soggy. with American Telephone 3 Santa Fe General 4s and Northern Pacific 4s down fractions American & Foreign Power off nearly 2 points. The bhas interests i Shanghai. LARGER NET REPORTED BY HOUSEHOLD FINANCE By the Associated Press CHICAGO, August 16— Household Finance Corp. reported first six months net income of $3,027525 compared with $2,565,292 the corresponding 1936 period. After the preferred stock. this was equal to $3.59 per common share compared with $3.39 the corresponding period last year. il of loans mar- power as 55 were company NEW YORK BANK STOCKS (Qu ns as of 2 o'clack.) New York Bk of Man (1 B s T Bkivn Tr (4) Cen Han Bk & hase Nai (1 40 Chem Bk & Tr « Manufacture: 3 fanufacturers Tt pf (2) Also extra or extras FEDERAL LAND BANKS W YORK Bank | italy 78 August 16 (P.—Federal b e | Minas Gers 615’58 | Norway 4145 '65 NEW L5013 YORK firm. T94a | average | medium 081972; o | firmer. Creame | Pernambuco T8 '47_ whole- State 19 sh spe- fresh held, fanc | Argentine 6s | Berlin § dividend payments on | & | Colombia 6s° | Cuba 5165 45 | Czechoslovakia 8 | Poland 6540 __. Argentine 434 1013 - 1001 100& 10015 1001 10045 1004, 10043 1001 10088 10048 103' 103 10915 1091 108% 108 1013 1004; 1001, 1004 Argentine 6s Argentine £s '60 Sept Argentine 6560 Oct Argentine 6s°61 May. Australia 4‘zu 56 Australia § Australia 51 Berlin ¥ ! Brazil 6 Brazil § Brazil 7s Erazil 8s 41 Puenos A Buesnos A Buen A 413-1%s Buenos A 4135'76 Aug Buenos A4le8-438'T5 Buenos 101% 631 831 831 87 843 9ty |48y 9x 991y 997y 9414 100 | 1078 114 2014 20 R 1108 AR 12618t pv. Bulgaria 7367 Canada 2% Canada 214 Canada 3s'67 Canada 31(s'61_ Canada 4s ‘60 _ Canada 5s'52_ Chile 6s°60 Chile 63°61 Jan_ Chile §s 61 Febr. | Chile 6561 Sept. Chile 6563 Chile 742 | Chile Mtg Bk 656 | Chile Mtg Bk 6s°6 Chile Mtg Bk 61 9915 9974 941y 100 107 FYEN 1001 Chilean Mun L Jan Colombia 6s ‘61 Oct Col Mtg Bk 7546 Copenhagen 41;s " ‘ Copenhazen Cuba 5504 Denmarx 412862 Denmark 5128 '55 Denmark 6s 42 10674 24% 101 0% 201y French G 75 49 un st. Ger C Bk A 63'60 Oct.. Ger Rep 7549 stpd Grt CElJap 7s g - Harp Min 63’43 ww Hungary 71as 44 Hung C TR'468 _ Hung L M 712561 B_ 251 - Japan 6%s’ Japan 613564 Jugos Mtg Bk Ts'57__ Kreug&Toll 55 '59 cfs Mex 45°10-'4 Milan 6158 208, 298¢ 8 41 3014 76 28 104 1037 . 10274 1000 10254 107 100% New So Wales New So Wales 55’ Nord Ry 612s'50. Norway 45 ‘63 _ 104 1028 107 % 100% Norway 6s 4 Norw Hy | Nurember 65 riental Dev 53 Oriental Dev 65°53.... Oslo G & E 5563 . Paris Orl Ry 51,8 '68_ 1021 ag 264, 194 19 21% 59'% Peru 6s'60 Peru 6s 61 Peru 7s '59 Prussia 6s 52 | Prussia 61,8 51 Queensland 7s "41 Rhine W El P 6s 55 | Rlode Jan 6158 '53 45 »\ pnunm | ucks, 1R-187; Rio Gr do Sul 6868 Rio Gr do Sul 7s '66 Rio de Jan 8s'46 | Roumania 75’59 | Sa0 Panlo St 7840 1018 | 1004 | Bush T Bldg 58 '60... Canada So 65’62 A Can‘alan NR 4%4s '51. Can’'dian NR 4%s ‘66 Can’'dian NR 434857 Can'dian NR5#'69 Oct Cen Pac db 48 perp rg. Can'dian Pac 43846 Can'dian Pac 4%s ‘60 Cent Pac Ist rf ¢4s'49 Can'dian Pac 68 '64 Cent of Ga con §s 45 Centof N J gen 68'87 Cent Pac 63 ‘60 Cert'd deb 614s'48 Ches & O 31;,8'96 D. Ches & O 3% s'96 . C& Oconbs'39_ Chi & Altref 3349 .. Chi B&Q gen 48 '58__. Chi B&Q 4%s 17 Chi B&Q1 div 3%s 49 Chi B&QI div 4549 __ Chi & E 111 6s'51 - Chi & E 111 bs ‘51 ctfs Chi Grt West 4x°'59 __ CM&StPbs'75 CM&StP&P adjis? Chl & NW gen 33,s'87 Chi & NW gen 4s'87_. Chi& NW 41482037 Chi & NW ¢%s Chi & NW gen 68 '87_. Ch1& NW rf 55 2037_. Chi R I&P rf 4s 34 Chi R1&P 4% 8°52 ctf. Chi R I&P gen 45 '8 Chi R I&P 414852 Chi R 1&P 4158 60 _. Chi Un Sta 338 °51_ ChiUnSta3%s'63 B Chi & W In con 4s ‘52 Chi& W Ind 4%s'62_ Childs & Co 6843 .Cin G & E 334s "66 Cin UnT3%sDgtd__ CCC&St L gen 4893 | Clev Cliffs Ir 43, ='50 Clev Un Ter 4148 '77_ Clev Un Ter 68 Clev Un Ter 5 Colo & So 4% s ‘30 Columbia G & E deb 1 52 April Co!llnlth&EBl ‘52 May Columbla G&E bs'é1. Colum Ry P&L 45’65 Comecl Credit 3%s 51 N Y 315856 Cons Gas NY 4135 61 10118155°51 Consum Pwr 3%5 65 Container deb 5543 __ Container 6s'46 __ Crane Co 31,851 _ Crown C & S 45’50 Crown Will P 6s 51 _ Cuba Northn 635 '42. Cuba RR 1st 58" Cuba RR ref Tlgs '36_ | Del & Hud ref 4s'43_. ! Den G & E 5551 st Den& R G W 58 Den & RGW § D&RG W rf Des M&Ft D 4 Det Edison 3125 ‘68 De: Dow Chemica Dul S S & At 58’ Duquesne Lt 3%s 65 Elec Auto Lite 45°52_ Erferef 58’67 , | Erieref5n°75 Fed Lt&Tr 55’42 st__ Fed Lt&Tr fs'42 _ Fla EC Ry 5374 Gen Am Inv 5s'52 Gen Mot Acc 384 Gen Mot Acc 3%5 '51. | Gen StlCast 515849 Goodrich 43,856 Goodvear T&R Grt Nr Ry 3%s Great N Ry 43 46 G __ Grt NRy4s'46 H _ _ {Grt NRrf43s'61 A_ GUNRgn 4138’76 D_ GrtNRgn4%s'71 E |Grt NR5%s 52 B Gulf States Util 4566 Gulf Sta Util 414846 | Hock Val 415 '99 | Hoe (R) 1st mtg 44 . | Houston O11 5158 '40 Hudson Coal s '52 | Hud & Man tnc 68 °57- Hud & Man ref 58 '57. | 111 Cent col tr4s'52__ | 111 Cent col tr 4553 | 111 Cent ref 4855 | 111 Cent 43865 _ 5 57 103% | 111 Cent ref 1027 | 1004 | ICC&St L N O 434363 11l Cent Lou 31:8 ICC&St LN O b Ind & Louisy 4= Inland Stl 3% 63_. 6 o IntRT 63'32_ IntRT 78'32_ IntR T 7s'32 etfs Interlake Iron 48 '47. Int Grt Nradj 652 A Int Hydro Elec 6544 Int Mer Marine 6841 Int Pap 1st 6847 A__ | Int Pap ref 6355 IntlRy CA 615847 Int T&T cv 4%8 39 Int T&T 4%s'52_ Int T&T 68 '65__ - Jones&L Stl 44 s'61A Kan CFS&M rf4s'36ct Kans C So 1st 38 '50__ | Kans City So ref 6a'50 Kresge Found 3% w47 Laclede Gas 53 '39 High, 68 117% 114 114% 11313 11874 95'% 104% 103% 108t 107% BONDS ON N. Y. STOCK Low. Close. 66% 68 117T% 114 114% 11314 118% 95 104% 1084 10815 107w 27% 491y 117% 114 114% 1131 118% 95% 104% 10314 108'4 107% 27% 4914 94N, e 10115 106% 981, - 102% 6915 - 105 104% 10615 1035 106 101 1054 1021 105% % 1057y 99% 106% as 69"y 104% 10415 106 10315 1061 10115 105 102 105% 1067 103% 106 10115 105 102 105% 105t 48 494 60 8614 % 1078 14% 144 19% 6% 10474 1143, 100% 103% 1374 102 1031, 102ty 82 1001 103% 137 102 L1014 10475 91y 129'% 108% 1141 105 104 1181, 103 210413 1201 9514 102 10115 9814 100 92%, 0% 6 i 1041 EXCHANGE High NY O&W gen 4856 NY O&W ref 4a 93_. NY & Rich G 61 '51 NY Steam 18t b5 '51__ NY Steam 58 ‘66 _ NY S&W gen 6340 __. NY S&W 1st rf 68°37. NY Tel gen 414339 _ NY Trap Rock 6 Niag Falls P 3%4s Ning L & O 58’55 Niag Sh 63850 _ Norf S 18t r5a’61 North Am Co 6361 North Am Ed 6369 C Nor'n Pac gen 38 2047 Nor'n Pac4s'97T __ Nor'n Pac 4148 2047 _ Nort'n Pac 5s 2047 Nor’'n Paa 68 2047 Ogden LC4s 48 ____ Ohio Edison 3% s'72_ Ohio Edison 45 65 Ohfo Pub Sve 78'47__ Okla G & F3%s'66 _ Okla Gas & Kl 45 '46 . Ont Pwr Niag 68’43 Oreg W RR 4s 61 Otis Steel 414562 Pac Gas & El 314566 PacG& E3¥u'61._ PacG & E 45°64 Pac TRTrf3%s'66 B Pac T&T 3% ‘66 C Paramount Pic 68 ‘56 Penn Co 4563 _ Penn Dixie C 63 41 PennO & D 4%8'17._ Low. Close. 13% 13% 19% 19% 106 106 105% 105% 106% 16 108% 9515 101% 110% 20 9914 105'% 111% 100% 103 v 112% 10674 92 « 100 104 107% 101% 101 100 103 9914 105% 102 . 105% 9914 107% 1078 111% 102% o 117% 1147 a5 101 117% 100 1044 24'4 05 25% 108 107w 117 R4 63% Td'y 21 10314 R 110 106% 106814 107 175% R 96, 120 1031y 41y 36 174% 19 Penn RR3Yswi Penn RR 3%s'70 C. Penn RR 418’81 D._ Penn RR 4% s 84 __ Penn RR gn 43,865 _ Penn RR deb 414s ‘70 Penn RR gen 6s'68 People GL&C rf 5547 Pere Marq 4%s '80 Pere Marg 1st 5556 Phelps Dodge 3%s'52 Phila Co 58 67 Phila Elec 315867 __ Phila & R C&1 68'78 _. Phila & R C&1 68'49_, Philippine Ry 48°37 _ PCC&St L 47840 A_ PCC&St L 4%='T1C_ PCC&St L 5570 A Pitts&W Va 414869 B Port Gen El 4148 '60 Porto Rico A T 6s°42. Postal Tel & C 5= '53 Potomac FI P 3% 5 '66 Purity Baking 5848 R-K-O 6541 Reading R 4% Reading R 4% Rem-Rand 43, x'56ww Republic Stl 414 '50_ Republic Stl 4% 856 Republic St] 4345 *61_ Republic Stl 6158 '54_ Revere Cop 4% Richfield Oil 6544 Rio G W eol 4849 A_ R1A&L 15t 415834 Rutland Can 4849 __ Safeway Stores 4s' Saguenay Pw 4866 St LIM&S R&G 45'33 StLRM& P 55’55 St LS Fran 48’60 A __ StL-S F 4850 A ctfs. St L-S Fran 4343'78 . St L-SF 4%8'78 of st. St LSF58'50 Bctfs_ StLS W gn rf 5830 StL S W 1at ter 5852 StP MEMEGT 41,47 San A & A Pass 48’43 hulco 6158°46 B chulco 6% 8'46 B stp Seabd A Liref 4s'59__ Seabd A L 4550 stp_ Seahd A L 6i Seabd A L 6x | Seabd A-F168'35 A ct | Sharon Stlcv 41851 | Shell Un deb 3148 '51_ Sfmmons Co 48’52 __ | Skelly O11 4551 Socony Vac 3% s South Bell T&T 68°41 Southn Cal Gas 45°65 Southn Cal G 4% '61 SoPac3%s 46 _ So Pacref 485§ So Pac 414868 So Pac 4% 8’69 So Pac 41881 So Pac Oreg 4%8'17_. So Ry gen 48°'56 A So Ry bs'94 So Ry 6148°66 So Ry M& O 4s'38 _ S W Bell Tel 3348 '64_ Southw'n G&E 4360 Stand Ofl NJ 3861 __ Studebaker cv 63 '45_ Swift & Co 3% 1011, 75 8214 107‘« Texas Corp 318’51 Texas & Pac b3 19 C_ Texas & Pac 55'80 D_ | Third Avref 45°60 Third Av 1at 5837 Third A ad in ex 58’66 Tide Wat O] 3348’52 Tol & Ohio C 3% 8 '60_ Tol St L& W 4850 _. Union Pae 3138°71 _. Union Pac 18t 4847 Un Pag 1st rf 55 2008 U 8 Rubber 55 '47 | Utah L& T 44 A Utah P& L 68’44 ___ | Util P& L 5869 ww_. U1 P&Lb6%s"47__ Vanadium cv 5841 __. VaE &P 1strf 4s'58 Va Rv 18t 3%n ‘66 A_. Va S W con 55’58 Walker H&S 4% s Warner Bros av 65 '39 1034 | D. €, MONDAY, AUGUST 16, 1937 AYRES PREDICTS FAVORABLE TREND Business Activity Will Hold Up Well for Rest of 1937, He Says. By the Associated Press. CLEVELAND, August 16.—From Col. Leonard P. Ayres came the pre- diction today that ‘“business activity will hold up well dur!ng the remaining months of the yea For the first six months, industrial production “has exceeded that of the same months of 1936 by 19 per cent,” the economist said in the monthly Business Bulletin of the Cleveland Trust Co., of which he is a vice presi- dent, “Factory employment has been greater by 14 per cent and factory pay rolls have been 29 per cent larger than those of the corresponding months of 1938, Col. Ayres said. “The agricultural outlook remains favorable. Business sentiment has become much more optimistic as a re- sult of developments in Washington, the recent decreases in labor difficul- ties and of advances that have been under way during the past weeks in the security markets.” On the other hand, Col. Ayres said, “one fundamental element in the business situation is much less fa- vorable. It is the fact that the flow | of new funds into business enterprises is not increasing in proportion to the expansion of production and trade. “Sales of new corporation securi- | | of the average maintained in the 10| years just before the depression.” The economist declared: “The widely anticipated Summer slump in business activity is not de- | veloping. Not many new records are | being made, but in nearly all import- | ant lines of production and trade the well above those of July, 1936." NORTHERN SECURITIES TRUSTEES ARE NAMED By the Associated Press. NEWARK, N. J., August 16—Vice Ohancellor John O. Bigelow appointed six trustees to carry out dissolution of the Northern Securities Co. of New | York which was voted Wednesday by | the stockholders Those appointed were Erasmus C. Lindiey, president of the firm, which grew out of the battle for control of century; Nicholas Terhune, vice presi- dent and treasurer: Anson Beard, secretary and assistant treasurer; James B. Reeve, assistant secretary |and assistant treasurer; Arthur C. | James and G. T. Slade, directors. Washington Produce BUTTER-_#2 score. 1-pound prints. 36 1.-pound prints. 37 90 score. 1ipound prmis. 35 la-pound prints. 36 tub. 34: market strong MEATS—Cholce beef | zeal 10 Fall iamb, s & 387 iiced bacon bacon. 33: compound. 13 lard Plices paid shippers net fob. Washing- ton. By the United States Bureau Acricuitural Economics EGGS-—Market steady. Receipts light and trading nominal. Current receipts, 20 io 21: hennery whites, best quality, 24 to 25 ordinary quality 23 Govern- ment graded and a.vra white eggs: U 8 S extras mediums, 25 ealves, m 14 10 16. roosters, 10 chickens omitted. d Vegetables. Sales in large lois by orizinal receivers carlot Supplies arrivals: moderate market steady. Bushel baskets. Maryland Pennsyl st Virginia Tra 50-80 Oldenburgs. 2'4-inch minimum. 40~ 2i-inch_minimum. 60-55; Wealthys, 2-inch _minimum. 40-50 inch min mum._ 50-60; 21z-inch minimum,. 65 Maidenblush.” ?1(-inch minimum. 50 2%a-inch minimum. mostly Rambos. 2'3-inch minimum, inch minimum. 1.00-1.10 CELERY——No carlot arrivals: two broken | cars on track. Supplies moderate: de- | mand light: market steadv. New York. | crates. _individually ~washed 3-7 dozen. 1.76. few 2.00; Michigan, Highballs, ) ETTUCE_-Pive Californis arrived: six Supplies moderate: steady. California, Western crates. Ice- erg type. 5 dozen. 13.75-4.25: New York. Easjern crates. Bi¢ Boston type, 2 dozen, demand light. . one New York. one Washington arrived: one broken and one unbroken cars on track. Supplies moderaie. demand_ llght: market steads 50-pound sacks. Yellows. U._8. Pennsylvania. #0-100." New vore 15: ‘fair condition 1.00. PEACHES—One Virginia broken ‘car on ‘track. demand light: market bushel baskets Elbertas inch “minimum. 1.7 I¥inch mipimum. 1 1 10 arrived: one | Supplies moderate; steady. Virginia U No. 1. 21a- 00: “poorer lower. _A0; Belles. U. year at rates not much over one-third | | July figures of this year have been. | Western railroads at the turn of the| demand | | total and 29 per cent greater than | sales in 1929. | ties have been running so far this|order business to any other branch of | or other retail | barebacks Safeway Stores Shows Sales Gain Of 9.6 Per Cent By the Associated Press, NEW YORK, August 16.—Sales of Safeway Stores, Inc., retail grocery chain with operations principally in Western States, for the four weeks ended August 7 .otaled $30,106912 compared with $27,476,807 in the like 1936 period, an increase of 9.6 per cent. For the 32 weeks ended August 7 sales amounted to $231,195,665 againat $202,260,734¢ in the same period last year, a gain of 14.3 per cent. MAIL ORDER SALES 10 REACH BILLION New High Records This Year Predicted by Writer in Annalist. Special Dispatcn to The Star. NEW YORK, August 16—Com- bined sales of six leading mail order houses will make new high records this year, according to La Rue Apple- gate in the current issue of the An- nalist. Sales will approximate $1.000,- 000,000, an increase of about 21 per cent as compared with last year's “It is difficult to compare the mail American merchandising. Mail order | sales,” says Mr. Applegate, “have shown a marked tendency to strike | out for themselves with little or no | relationship to department store sales | trade. As early March, 1935, mail order sales, on a | seasonally corrected basis, equaled the highs reached in 1929 and by March, 1936, the old records were definitely shattered. Since that time, mail or- der sales have marched irregularly up- ward, with new high records estab- lished almost monthly. In May of as | | this year sales of Sears, Roebuck and | | Montgomery Ward touched the high- est levels in history, after allowance | for seasonal variation. ‘The mail order business has long n assoclated with farmers and the general assumption was that pros- perity in the mall order business was dependent upon prosperity in the rural areas. The development of re- tail outlets by the mail order houses, however, has greatly changed the re- lationship between sales of such com- panies and cash farm income. ! “In 1932 cash farm income was but | | 41 per cent of the 1929 total, but mail | order sales were 62 per cent of the | peak level. depression, sales of mail order houses | have far outstripped the gains in cash | farm income. Last year, farm income | was about 75 per cent of the 1929 fig- | ure, but mail order sales had !‘lt&d!d the old marks by a comxonnble | margin. | “The outlook for the mail order companies is bright from the stand- | | point of sales. In spite of the wide YT \ gains they have made in the past few | | years, it appears that from now on | ythur sales should continue to expand | at a faster rate than total retail trade. The period of transition from a basic mail order unit to & combination of mail order and retail store is now almost over. “Sales should reflect the fact that the mail order retail stores are now | definitely established in their respec- tive communities. Because the mail | order houses cater to the vast middle classes, their sales should respond to the progressively larger share of the national income which labor is re- ceiving.” CHICAGO PRODUCE. CHICAGO. August 16 (P —Poultry. live one car 25 trucks: easy. hens pounds up. 21; less than 41, pounds. Leshorn hens 16, fryers. colored Plymouth Rock. 24: White Rock, 18: brolers, d. 23 mouth and White Roc! Leghorn. 21; Springs. T mouth Rock. White Rock, 2215 backs, 20: roosters. 14'3: Leghorn roosters; 1315: turkeys hens. 17 foms. 16: No turkeys, 15: ducks. white and colored. 413 pounds up. 1715: small, 151z, old geese. firm: creamery specials xtras (92 3 seconds (84-87%2) . centralized _carlots) exira firsts, local, ars, 193, current receipts, 18'3. storage- packed firsts, 201, Potatoes. 110, on track. 162: United States shipments Saturday, Sunday. Bliss Triumphs firm. stock steady: supplies moderate. demand fair: sacked. per total FINANCIAL. BIG GAINS SHOW BY AR TRAVE Banner Year Is Predicted as Modern Equipment Draws Patrons. BY FRANK J. WILLIAMS, 8pecial Dispatch to The Star. NEW YORK, August 16.—The pub- lic is using the air services to a great- er extent than at any other period in the history of commercial aviation in this country and 1937 will be a banner year for the industry, according to C. R. Smith, president of American Alrlines, Inc. Increasing prosperity throughout the Nation has expanded the muiti- plicity of schedules with the most modern equipment, and there is a rap- idly growing acceptance of air trans- portation, During the Iast year the domestic airlines have expended more than $10,000,000 for the purchase of mod- ern aircraft and in the first six months of this year they carried more than 464,000 passengers, an increase of 9.1 per cent over the first six months of | 1936, when 421,519 passengers were carried. Passengers transported in the entire year of 1934 were 461,473, Preliminary August figures for the air transport industry indicate an- other record month. July figures re- ported by individual companies topped June by a substantial margin, and June was the best month since July, 1936, which was the greatest month in the industry's history. During that record month 111,072 | passengers were carried, 6,043,403 ac- tual miles and 44,363,670 passenger miles were flown and 613,837 pounds | of express transported. In June, 1937, 110,842 passengers were carried, 5,811,- | 404 actual miles and 47,290.279 pas- senger miles were flown and 650,709 pounds of express carried. Mr. Smiti says that American Air- lines, Inc. transported 147137 pas- sengers during the first six months of this year, as compared with 102,393 for the entire year of 1934. In July the company flew 1,568,275 miles and transported 33,333 passengers. a new all-time high record. He predicts that new records will be established in the industry in September, October and November. (Copyright. 1937.) OFFICE FURNITURE WE SELL, BUY OR EXCHANGE Chalrs Steel Files Desks Steel Cabinets Tables Safes BAUM’S FURNITURE HOUSE 1416 Eye St. NNW. Pheme NA. 3184 Since the trough of the | Refinance Your MORTGAGE on a More Attractive Basis 87 Interest Up to 20 Yoars to Repay I! You are paying more than 5%, interest on your mortgage, our Mort- gage Loan Plans can cut your interest costs and set up your principal payments on a more attractive basis. You pay only 5%, interest on the unpaid balance, and long as 20 years to repay. Repayments to fit your budget—monthly, like rent, if you prefer. Come in and learn how we can serve you. WEAVER BROS in¢ REALTORS Morteags Lan Corverpondent Muvapeiitan Life Innerence Company WASHINGTON BUILDING DISTRICT 9486 %3 A 17 Du Pont Declares Interim Dividend Of $1.50 a Share By the Associated Press. NEW YORK, August 16—The E. 1. du Pont de Nemours & Co., a leading chemical producer, announced today an interim dividend of $1.50 a share on the common stock, payable Sep- tember 15 to holders of record August 25. In June a dividend of $2.00 was paid and in March 75 cents a share, FOREIGN EXCHANGES. NEW YORK. August 18 /) —Foreign - change mixed: Great gthers in cents CHE T Italy demand. 5.26'4; cables, . 16.84; Germa 2340, travel, 25.03 Finland. 2.2 “Spain,_ unauoted bt © Yugosiavia, Hungary. 1075 2.3%; Austria, Rumania, ;4 n: Brazil, RR0Ven. Tokio 0.13. Hong Kong. 30 941 Mpxxco City. 27 85 Montreal in New Yor 99 967, New York in Montreal, 100.03" n--Nominal. NEW YORK BAR SILV’ER NEW YORK. August 16 (#) —Bar silver steady and unchanged at 44%. LARGE OR SMALL <_—S'a vZnfi& ACCOUNTS INVITED Come in and let us give you complete facts. Every account up to 35,000 is fully ( < niu t[l and liberal dividends are credited semi- annually Under Supervision of the United Stotes Treasury { Anlerstale BUILDING ASSOCIATION Washington Building 15th St. & New York Ave. District 9486 MONEY TO LOAN Company Imhao Mamber, Federal Reserve Sysiem and Federal Deposit Izsurance Corporation. A LAAAA hundredweight. Cali- fornia White Rose. U. S. No. 1, car. 2.15 Colorado Bliss Triumphs. U. 150 loh, TAKHs Biias IHtunpbs o 2. Idsho' Russet Burbanks: U 8, N U8, No 2 practicaily free from cits and clipped enda S A0-L sho: heated, spotted sack ington White Rose car, Nebraska Cobblers. U gecty sredeq, 1.95-1 . 8. No. 1. 1.40-1 Laclede G 6% s 53 C_. Laclede G 5%8°60 D_ Laclede Gas 68'42 A Lake S&M So 315897 Lautaro Nit 19758 LV NY Ist 45’45 gld Leh V NY 43840 gtd Leh V P con s 2003__ Loew's 335846 Long Isl rf 4849 stp_ La& Ark5s 69 ___ L & Nash 3%s 2003 L & N 1st 482003 L& N 582003 B MecCrory Strs 58°51__ McKess&Rob 6% 850 MeC RReclt 4545 A _ Man S 1st 7% s'42ctfs Mead Co 68°45 Met Ed 1st rf 4% 568 Minn & St L. rf 4s°49_ MStP&SSM cn 4838 Mo K & T 1st 4890 Mo K & T adj 58’67 FOREIGN MARKETS. LONDON. August 16 (®.—Late dealings n todav's stock market were featureless. | he Far East situation overshadowing ali | avorable developmenis and raders were ictant to take on new commitmen vith this support lacking prices showed n_easier trend Gilt-edged securities and foreign bonds, ogether with shipping shares. sold lower nd the rail group was mixed Trans-Atlantic iss were firm ex- ceptions. some closed high British-American in_supply and iron. steel stocks declined. Wash W P 15t 5839 ‘Westchester L 55'50 . West Penn P 3%s'66 W Sh 1st 45 2061 gtd_ West'n Md 18t 43 '52_ Westn Pac 5846 A. West'n Un 4% 60 _ Westn Un cl tr 68°38_ Westn Un b8 ‘51 West'n Un b8 '8 Wheel Steel 434 W Sp Stl con 78 '35 et Wis Cent 1st gn 45°49 WisCS&DT 4s'36_. Y'ngstn S&T 3%s 51, Sao Paulo St 83 '36_ Sao Paulo St 8s '50._. Serbs 7862 Taiwan Elec 5148°71_ Tokio 58’52 Tokio 5%s ‘61 Tokio B L Ltd 68’53 _. Un St1 Wk 612547 A Stl Wks 613851 A Uruguay 68°60 Uruguay 68’64 Westphal E P 6s'53__ Yokohoma 6x '61 DOMESTIC BONDS. Adams Express 4847 100% 100% Adm Exp 41,5 '46 std 104 10315 Alb Per W P 6s'48___ 6815 681y Alleg Corp 58 44_ 94 93y Allex Corp 55 49 86 86 Alleg Corp 5860 8tp. 58' 57h Allied Stores 443’51, 98 98 Am & For Pw 552030 7814 78 Am1GCh6%8'49___ 107 107 AmT & T 3%s'61___ 100% 100% AmT& T 3%s 66 997, 99%, AmT & T 4%3°39 104% 10414 AmT & T 5ls L1118 1111 Am Wat Wks 68'75__ 10815 1081¢ Anaconda deb 4158°60 10615 106% Anglo-Chil Nit 78'67 37w 37 Armour (Del)1at 48'66 9813 981 Armour (Del) 48'57.. 9813 98 A T&S Fe 45 '05-'55_._ 106% 106% A T&S Fe gen 48 '95_. 11114 111 AT&S Fe4%s 48 109 1084 Atl Coast L 1st 48°62 10315 10315 Atl Comst Liclt 48°52. 9413 941 AtICLun4% 9214 Atl Coast Line 68 45 - 106 Atlantic & D 1st4s'48 Atlantic & D 2d55'48 _ AtIG & W 1st 6 B&O 1st 4s 48 s 1. 13-inch minimum, fir condi- tlon. z5-1.001 201 Mnches 1.8 PEAS—_One Ohio' and one Washington arrived: one broken and one unbroken At Ohack, | Supplies moderate: d mand light: market stei Bushel ha pers Telephones Colondo 1.8 Washington. 2.00a2 BOTATORS . Truek receipts moderate: supplies moderate: demand_light: market | steady. 100-pound sacks Cobblers. U. 8. No. 1: New Jersey, 1.05a1.10: Pennsyl- vania. 90a1.00. WATERMELONS —Boat receipts equiva- lent to 15 cars Virginia. ~Truck receipts moderate; suppiles lberal; demand light: market weak. Virginia,' boat receipts. bulk. per 100 melons.” Tom Watson 20.00025.00; primes. 1200215 00: 10, Truck receipts, Tom 28 'pounds average, 20425 each. CABBAGE—One Virginis_arrived: one unbroken car on track. Truck receipts supplies ~ moderate: demand market steady. Pennsylvania, 1%s- bushel hampers domestic flat type, 50a75. Lima Beans Steady. BEANS_Supplies moderate; market stead U. ON IMPROVED D. C. PROPERTY Immediate attention on your appli- cation for buying, rebuilding or refinancing. Loans repayable monthly. No ¢harge for appraisal if loan is not made. Interest charged only on unpaid balance of principal. EQUITABLE CO-OPERATIVE BUILDING ASSOCIATION 915 F STREET N.W. Organized 1879 No. 1. and Bliss Triumphs, NEW YORK SUGAR. NEW YORK. August 16 (P —Sugar fu- tiires were easier today under increasing September _liquidation and _commiasion | house selling influenced by uncertainty over | sugar legisiation at Washington. soid_down to 253 and July 2.42. or 2 to 3 points net lower. Sep- tember No. 4 reacted to 1.18% and July to 1.31'2 or 1 point net lower. The mar- ket at 2 p.m. ruled around the lows. o 6%, 25 25 6834 25 3148 and oil PARIS August 16 (P .—The Bourse was losed in observance of Assumption day. RUDE OIL PRICES TULSA. Okla. August 16 (®.—Base rude ofl prices Midcontinent area, Okla- froma-Kansas. gravity scale, 98 to 1.30. [North. North' Central and ‘West Ceniral exas. gravity scale. 96 to 1.20. East 174 149% 103% SEPTEMBER MATURITIES T0 TOTAL $21,347,500 Special Dispaten to The Star. NEW YORK, August 16 (#).—Corpo- rate bond maturities during Septem- ber will total $21,347,500, according to the Standard Statistics Co. of New York. The number of bonds and notes making up this total is 55, of which 5 amount to $1,000,000 or more, as follows: September 1—Buffalo, Rochester & Pittsburgh Railway first 5s, $4,427,000; Dixie Gulf Gas first serial “A" 628, $2,905,500; Pennsylvania Co. certifi- cates “A” 3l5s, $3,020,000; Southern California Edison Co. serial 2%s, $2,000,000. September 15—New York Central Lines eq. tr. 428, $1,397,000. August maturities amounted to $73,085,500, and the 82 issues and | portions of issues falling due in Octo- ber total $49,210,000. — LUMBER PRODUCTION EXCEEDS NEW ORDERS By the Associated Press. ‘The National Lumber Manufacturers’ Association said today that lumber production during the week ended August 7 was 23 per cent greater than new business booked and 20 per cent heavier than reported shipments. . ‘The association said 524 mills pro- duced 272,603,000 feet during the week, shipped 227,408,000 and booked orders of 222,412,000. Revised figures for the preceding week were: 561 mills, 279,450,000 feet production, 278,868,000 shipments and 261,734,000 orders, 103% FRENCH MARKETS CLOSED. PARIS. August 16 (P .—The Bourse and other markets were cl today in ob- servance of Assumption day. LIMA mand light ng Tsland, bushel Pennsyivania, bushel bukeu 2 28, BEANS—Supplies moderate: mand Hnt: arke sieady. "Benheyivanta. bushel baskets, green flat type, 78a1.00. ACH—One New York arrived: one broken and one unbroken cars on Lrsek, Bupplies _light: demand light: market steady. Bushei baskets. 8avoy type: Penn. sylvania, §0-75: few 90: New York, truck receipts. 0. SWEET 1 Texas (Permian_Basin), gravity de- xcale, R4 to 1.08. North Louisiana-Arkan- as. gravity scale, 98 to 1.2 Rocky Mountain area. Salt Creek, Wyo., Eravity (n]! 2R to 1.30 Eastern area, Pennsylvania grade (Brad- ord-Allegany). 2 K2 same grade in South- ‘est Pennsylvania lines same grade in Bureka lines, 552 same lnd: in Buck- ve lines. 2.37 Cnrnmx 1,42, U. 8. TREASURY POSITION. The position of the Treasury August 13: expenditures, 100.452.10 e 9,071, ‘Cusioms Teceibis for ‘the month, BR7 42 de- Mo Pac b8 ’SB H Mo Pacific 5¢' 811 Mo Pacb%s'49 A Mob & Ohio ¢ %= '77__ Mob & Ohlo 65°38 _ Mob & Oh M div 58’47 Monong Pub S 4%'60 Monong Pub S 65 '65. Mont Pwr 3% s ‘66~ Morris & Es 3158 2000 Morris&Essex 41, 8'55 Nassau Elec 458’51 std Natl Dairy 3% s'51ww Natl Dis PC 4%s '45. Nat Ry Mex 1st 4s ‘6lasst Natl Steel 4565 New E T&T 41;8°6 New Ent RR 5s°45 mand slo Puerto Ri 3 . 8. lo. 1. 1.25-1.: Louisiana. bushel crates, Puérto Rican U. 8 N 2 7, COR! demand aele light: ke 5 cks.. 8 d R Pennaylvania, 65-76: nearby sections, 05.TR3 84, 9: gross debt -n increase of wum. 638 46 over me previous day: gold as 35 including Ei8 04011 of 1|\ltnvr Rold. MONEY MARKET NEW YORK. August 16 (P .—Call money 1 per cent all day: prime commer- r. 1 per cent: time loans steady; 114: 4-6 months. 1! per cent: bankers _acceptances unchanged: 30-90 | days. 15-7/16: four months. 9 16-14: five- six_months. 3»-9/16; rediscount rate, Ne Yorke Reserve Bank. 1z per cent. STEEL QUOTATIONS. NEW YORK, August 16 (¥).——Sieel prices per 100 pounds f.0.b. Pittsburgh Blue annealed sheets. hof rolled. 2 40 zal- Tanized shects. B80! blnck sheets, ot ralled, 3.15 2.45 10314 941 9214 104% lozen, 75 1.00. ORANGES—No carlot arrivals: one bro- en and three unbroken cars on track. California, boxes, 4.50-6.00, as to grade boxes. No_1. 7.00- as 10 eryl-nd " North 0- !l’: per quurl. or} 1.25: Cuba _ventiated. crates. 2.50-3.50, CARROTS—Pennsylvanis. 25-30 per ‘1’0&7“1 bunches, bushel baskets, topped, ROCCOLI—Pennsylvania, bushel erates, 180, BEETS—Pennsylvania, 25-30 per dosen Wm:hex PES—No_ carlot arrivals: one ear unjosded: mo Cars. op LFACK. c-mernh lugs. Thompson Seedless. 1.25: Easte Sitore ‘of Maryiand: 13-auart climax bas kets Moore's Early, “45a50. oCTM BERS ! PI{mlflylvnnh bushel askets. fair quality. AN MELONS-—California. crates, 1. .75; atandard crate 2.0083.28; jumbo crates, 5-8s. 2.75. ,UMB' — California, ~ boxes, various varieties. 1.7522.50, E -bushel b Mountain 2. 60!2 78; Pcnnl"l- Clapp Favorites, quiva- HOME LOAN CON STRUCT ION LOANS and LOANS ON IMPROVED PROPERTY in the District of Columbia Nearby Maryland and Virginia New Or Ter 1at N Y Central 3% NY Central 3% NY Central 3% NY Cent 4342 NY Cent con 45 NY Cent rf 4%5 2013 NYCrf4%32013n_. NY Cent rf 582013 NY CLSh3%s'98 NYC Mich C3%3'98_ NYC&St L 18t 45°37 NY Chi & St L 484 NYC&St L ¢%s°78 NYC&St L 6%8'74 A. NYChi&StL NY Conn 1st 434853 NY Edison 3%s 65 D NY Elisref 3%s NY&E 1st ext 48 '47 NYL& W 1st45'73 NYNH&H 48’5 NY NH&Hov Bang&Aroos 4s°51 Bang&Aroos 4s’51atp Beth Steel 33,366 ___ Beth Steel 4143 60 __ Bos& Me 4¥%s'61J__ Bos & Me bs 65 Bos & Me 68 °'67 BotCon M 6%s°34 Bklyn Ed con 3% s ‘66 Bklyn Man T ¢3%s 66 Bklyn QueensC &S 1st 58’41 stpd Bklyn Un El 68650 .. Bklyn Un Gas bs "¢5_. Bklyn Un Gas 58 50 Bklyn UnG 5s 57 B Bklvn Un G ref 6s* Buff R&P con 4% 857 Bush Term con 58 '55. 1124 97% 104% 72 8% 767 Easy Monthly Payments as low as $7.50 per $1,000. Ne m-l-on:mul. Taxes may be paid lunihly Investigate our economieal loan plan. COLUMBIA BUILDING ISSOGIITIOI 716 11th Street Opposite Palais Royal 23 1011 8T% 55 101% 115 954% 106y 1154% 9% 58% B58% L3 S MONTREAL SILVER. MONTREAL. August 16 (. —Silver_{ lu- fures opened steady and unchanged 44.70b; December, 44. o Maren, 44.55b; Te lent to two cars Virginia. No carlot arriv: bl’oken car on track. Prompt Action B. F. SAUL CO. 925 15th Street Natl 2100 RUBBER FUTURES. MBwW YORK. Auzust 18 (P_Crude rubber futures opened eas: f: prember. 18.12-15; Decemhel’ 18, 31 3’ ch, 185.40-50. Arizona arrived: fmkhrolnn ‘and one unbroken cars en rac MIXED 'ABLES—No_ carlot ar- ; ene W— s om trask. sivals;