Evening Star Newspaper, September 30, 1937, Page 20

A—20 *¥% FINANCIAL, THE EVENING STAR, WASHINGTON, D. C, THURSDAY, SEPTEMBER 30, 1937. FINANCIAL, SHARP RISE SEEN TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE By Private Wire Direct to The Star. 2:16 p.m. ND.C.ELEARNGS Nine Months’ Total Jumps $120,919,647 Ahead of Same 1936 Period. BY EDWARD C. STONE, Bank clearings in the Capital in the first nine months of this year totaled $944,506,262.84 in comparison with $823,586,615.13 in the like period in 1936, a gain so far in 1937 of $120,919,- 847.71. The report made this noon by the Washington Clearing House Associa- tion fully supports many other an- nouncements that business is well ahead of last year in Washington. September clearings, also reported today, indicated that the month’s bus- iness was better than in September a year ago, a total of $90,915,380.85 in canceled checks comparing with $89,- 611,945.10 in September, 1936. This is an upturn of $1,303,426.75. Monthly comparisons reveal gains in every month this year over the corre- sponding month in 1936. The sum- maries: Month. January February 1937. --- $100,562,083 92,192,370 114,782,918 115,715,484 103,997,339 124,009,738 110,590,257 August 91,750,668 September .. 90.915,380 89,611,954 Hardell Heads Reilly Firm. John W. Hardell, who has been eonnected with Barber & Ross, build- ing supply firm, for 28 years, and treasurer of the company during the past five years, has resigned his po- sition to become presidentand general manager of the Hugh Reilly Co. He succeeds Francis D. Thomas, who becomes chair- man of the board of directors and is anxious to give more time to the practice of law. The new presi- dent was manager of the structural steel department of Barber & Ross for many years, after he had obtained broad experience as a salesman. He will assume his new duties tomorrow, #t was announced today. Mr. Hardell has long been a member of the board of directors of the Y. M C. A, is past master of Cathedral Masonic Lodge, a graduate of Tech High School and Georgetown Univer- sity, and is a member of Delta Theta Phi legal fraternity; also of the Wash- ington Bpard of Trade. 1936. $86,990,549 78,024,521 86,355,879 100,389,014 94,205,112 104,841,034 100,333,520 82,745,029 June July John W. Hardell, Underwriters to Hear Arnold. ‘The District of Columbia Life Un- derwriters Association will hold its first Fall luncheon meeting, next Monday at the Willard Hotel, with the new president, Paul Primm, presiding and & noted guest speaker on the program. The programs for the series of monthly meetings are planned to cover important questions that the public is asking of life insurance com- panies and life insurance men and women in the field. For Monday's meeting the association will hear O. J. Arnold, president of Northwestern National Life Insurance Company, of Minneapolis, discuss the subject, “So- cial Security Through Life Insurance.” Mr. Arnold, a director of the United States Chamber of Commerce and chairman of its Insurance Committee, is also chairman of the board of di- rectors of the Life Insurance Sales Research Bureau of Hartford, and a director of the American College of Life Underwriters, Philadelphia. One of the outstanding speakers at the National Convention of Under- writers in Denver within the month, Mr. Arnold’s address here is antici- pated with unusual interest. Farm Income Boosts Recovery. One of the outstanding business de- velopments of the year, says the Guaranty Trust Co.’s latest survey, is the marked increase that has occurred in the actual and prospective purchas- ing power of the farm population. This increase is the result of a com- bination of good crops and a favorable price situation—a combination that bas already been witnessed in recent years. It promises to be one of the most important influences tending to sustain the level of general business Bctivity over the next several months. A prospective farm income with a purchasing power within 1 per cent of the 1929 figure and 3 per cent above the average for the few years im- mediately preceding the depression, to- gether with sharp reductions in debt, interest charges and taxes, would seem to indicate that agricultural recovery has progressed to the point where the farm population can once more demand and consume its normal share ©of the country’s industrial output. Heard In Financial District. ‘W. W. Spaid, senior partner in W. B, Hibbs & Co., who has just retired as president of the Associated Stock Ex- changes, has been president of the national organization for the last three Years and rendered valuable service to the association. Eugene E. Thompson, retiring executive secretary, was one of the organizers of the association and president of it for eight years, George H. Bright, head teller at the National Metropolitan Bank and man- ager of the Washington Clearing House Association, is on his annual vaca- tion. Silas E. Moore, assistant man- ager, is looking after the affairs of the Clearing House. Nearly all the investment houses in Washington will be represented at the Fall meeting of the Southeastern Group, Investment Bankers' Associa- tion, in Baltimore tomorrow. Wallace H. Fulton, director, Investment Bank- ers’ Conference, Inc., of Washington, will be the guest speaker. Many Capital bankers agree with Gen. Charles G. Dawes, former Vice President, that the present stock mar- ket situation does not portend any serjous -slackening in generally pros- perous business conditions. Residential construction in all cities of 10,000 population or over during the first eight months of 1937 totaled 119,- 891 units, an increase of 16,581 over the same period in 1936, according to the Federal Home Loan Bank Board. Today’s Trading on Exchange. Three $1,000 transactions were recorded in Potomac Electric Power 3%s on the Washington Exchange to- day. Capital Transit stock sold at 10, Potomac Electric Power 5% per cent preferred at 11134 and the 6 per cent preferred at 113'5. Washington Railway & Electric preferred brought 110 on several sales. Capital Trac- tion 55 moved at 80, Prev 1037 Stock and Low. Dividend Rate. 40 Abbott Lab (1.60a) - 60 Acme Steel (4) . 12% Adams Exp (.30g).. 20% Adams-Millis (2).., 23 Addressog (1.40) ... 1% Advance Rumley._. 60 Air Reduction (1a). 9% Alaska Jun (.60a).. 1% Alleghany.... 15 Alles pf $30 ww._... Allen Indus (1) ... K3 25813 183 Allled Chem (6)oo. 174 38% 21% 85 831 87 1147 101% 44 37 1815 52 184 365 9y 9 233 407, 4T% 45 5 11013 100% 43% 42 354 283 105% 100 15% 307y 23% 105% 20 12915 103 693, 2974 941y 9 5 191% 126 100 41% 115 481 821 39% 12% 41% 86% 23% 82 634% 14 Allied Kid (1a)_. 16% Allied Mills (2g) 11 Allied St .2 64 Allied Strs pf (5).. 52% Allis Chalm (2g). 39 Amal Leath . 67% Amerada (2) = 72 Am Ag C(Del)6%g. 17% Am Bank Note %g.. 59 Am Bank N pf (3)__ 42 Am Brake Sh (2g)_. 90% Am Can (4a) . __. 26 AmCar & Fy (%g). 50 AmCar & F pf (4g). 2213 Am Ch&Cable 1g__. 94% Am Chicle (4a) . Am Colortype.. Am Comecl Alco Am Crys Sug 3.25g. Am Crys Sug pf(6). Am Encaustic Til__ Am & Foreign Pow. Am&FPS$6pt ___. Am & For Pw $7 pf . Am & For Pw 2d pf Am-Hawailan S (1) Am Hide & Leath _ Am Home Pr (2.40). 4+ Am Ice g Am International . Am Locomotiv Am Loco pf % Am M & Fdy (%8)- Am Metal (%g) Am Pow & Lt AmP&L $5 pt (5). 4 Am P & L $6 f (6) Am Rad & St S(.60) Am Rolling Mill (2) Am Roll M cvpf 4% 3 Am Safety Raz (2). 73 Am Seating (%g)-- Am Shipbldg (2a)_. Am Sm & Ref (4g) .. Am Stl Foun 1.50g._.. Am Storeg (1.508) Am Sugar Ref (2) 0 Am Sumatra (1a)__ % Am Tel & Tel (9)._. Am Tobacco (5) Am Tobacco B ( Am Type Fdrs ___ Am Wat Wks (.60g) Am Woolen % Am Woolen pf (3k) AmZinc L&S . _ Anaconda (1.25g) . 7! Anchor Cap (.45g) Anchor Cap pf 6% Andes Copper Arch-Dan-M 1.50g Armour [11 (.65g) Arm 111 pr pf (6) Armst'z Ck (1.50g). Arnold Const (%g). Artloom Asso Dry Goods Assoc In pf ww( Atch T &S F (2g) Atchison pt (5) Atlantic Coast Line Atl Gulf&W Ind pf. Atlantic Refin (1) Atlas Corp (.80) _ Atlas Corp pf (3)_. Atlas Tack (.508) - Auburn Auto Austin Nichols. Aviation Corp Baldw Lo ctfs w. Balto & Ohlo 9 15% 19 88 4% 4% 22 Bang & Ar pf ( Barber Co (%g) Barker pf (2%). Barnsdall (1) Beatrice Cr (1; Beat Cr pf ww (3) 9 Beldin-Hem (1) _ 144 Bendix Aviat .75g. 173 Benef Ln (1.32%g). 6514 Bethlehm Stl 2.50g. 16's Beth St16% pf (1) Beth St1 7% pf (7). Bigelow-San (3g) Black & Deck (1a) 215 Blaw-Knox (.70g) Blumenthal pf __. # Boelng Airpl : Bohn Alum (2.75g). Bon Ami (A) (4) __ Bon Ami(B)(2.50) .. Borden (1.60) ___. 4 Borg-Warner (2) . 5'; Bower Roll Be(2g) . Bridept Brass 658 Briges Mfg (2.50g). Bklyn-Man (23:g) . Bklyn & Queen Bklyn& QT pf. . Bklyn Un Gas 2.30g. Brown Shoe (3) __ Brunsw-Balk .50g . Bucyrus-Erie .25 Budd Mfg Budd Mfg pf - Budd Wheel (.20g) - Bullard Co (1) Bulova Watch (4a). Burlington Mills(1) 22'5 Burr Ad Mch(.65g). 14'4 Bush T Bld pf ct(r) 10% Butler Bros (.60) ... 24 Butler Bros pf(1%3) 4 ButteCopper&Z._. 11 ByersCo . =3 51 Byers AM pf 2.50k.. 197% Byron Jack ((1g).- 26 Calif Pack (1%a)... 2% Callahan Z-La - 9% Calum & Hec 1.10g- 22 Campbell Wy (1)_.. 1414 Canada Dry G Al 9 Canadian Pacific Cannon Mills 13%g.. Caro Clin & O st(5). Carpenter Stl 1.60g.. Carriers&Gen .15g... Case (JI) . 71 Caterpillar Trac(2) 26% Celanese (2.25g) - 17% 29% 1674 17 n B 105 Celanese pr pf (7. 28 Celotex (.80g) 61 Celotex pf (5) 29% Cent Asuir (1%a) 4 Central Fay 16 Central RRNJ._.. 49 Cerro de Pasco (4) 7% Certain-teed 30 Certain-teed 6% pf. 35% Champ Pap & F (2). 49% ChesCorp (3) .. _. 3814 Ches & Ohlo (2.80a) 90% Ches & O pf A (4) . 4 Chi & East Ill pf(r). 1% Chi Gt West (1) . 5% Chi Gt West pf (r) 18! Chi Mail Or (1%a) . 1% Chi MStP&P (r)_. 2% Chi M St P&P pf(r). 24 Chi&NW(r) __. 6% Chi & N W pf (r)... 15% Chi Pneu Tool . ._.. 35 Chi Pneu T cv pf(3) 2ACRI1&P 6% pf (1). 8% CR1&P 7% pf (r). 10% Chi Yell Cab(1%g)- 15% Chick Cotton Ofl. 5% Childs Co C cee 38 Chile Copper 1.25g. 87 Chrysler (18) . ——o.. 14 Citylce & F (2).... 4% City Stores - 31% Clark Equip 1.30g.. 30% Clev Graph B 1%g. 16% Cluett Peabody (1). 170% 122 Coca~Cola (3) _.cue 59 26% 56% Coca-Cola A (3) ... 13Y% Colgate-P-P (.50) ... 104% 102 Colg-Palm pf (6) .. 62% 51% 27% 30 32 35 Collins & Alk (42)-. 18% Colo Fuel & Ir (1g) 10% Colo & South 13% Colo & South 1st pf 237% Col Brdcsts A 1.05g. 23% Col Brdests B 1,05g. 8% Colum G&E (.20g) 80 ColG&EIpfA (6). 18% Cal Pict vte (1a) .. 95 Col Carbon (4a) _ 47% Comcl Cregit (4a) .. 47% Comcl Invest Tr(4) 10 Comcl Solv (.60) .. 1% Comwlth & Sou. ... 41 Com & Sou pf (3)-.. 7% Conde Nast - 27 Congoleum-Nrn(2). 123% Consol Aircraft. 8t.Consol Cigar. 81" Con Cig p pf ww 615 284 Consol Edi (1.50g) - 99% Consol Edis pt (5)- x 2 Consol Film.oooo_ » FSwraalnRananen=n = 8 =55 ® B - S RO AT DN OHWE - d - 0696 4 10 14 09 1 et i B 19 1O 14 09 I arorpnES - TS =TPFS 108 a8 4 Sales— Add 00. High, Low. Close. chge. 1 43 43 65 Net +2 65 +2 128 ~1 21% + Y% 26% + % 2 + W 656 +1% 124 +1% 2 + %W 21 -1 20 +3 18% +2% 20 25% 1215 14 18% 124 65 FEFEE FEF *FEFREEFES ¥ 2:15 p.m. Stock and ° Dividend Rate, Prev 1937 High, Low. e 13% Contl Baking A-c. 2 Contl Baking B..... 50 ContlCan (3) 107% Contl Diamond 1% g 30% Contl Ins (1.60a) ... 1% Contl Motor .. _ 36 Contl Ol1(Del)1%g. 17 Contl Steel (1).___. 53 Corn Exchange (3). 54% Corn Prod (3).. 5l Coty L] 337% Cra -— 115 100% Crane Co cv pf (B)... 87 25 Creamof Wh (2g).. + 28% 13 Crosley Radio. 100% 47% Crown Cork (2) .. 26% 15% Crown Zeller (%g)- 81% 43 Crucible St 3 1 CubaCo... - 14% 6% Cuban-Am Sugar... 43 19% Cudahy Packing. 20% 6% Curtis Pub 109's 55 Curtis Pub pf (7 8% 3% Curtiss-Wright._ 238% 12 Curtiss- Wright 90% 54' Cutler-Ham (2g) 14313 97% Deere & Co (28) 31% 23% Deere & Co pf(1.40) 29 14% Deisel-Wem-G (1a) 58% 23 Del& Hud __ 24'3 10 Del Lack & W . 107% 2% Den&Rio GW pf(r). 146'3 100 Detroit Edis (68) .. 36's 22% Diamond Mat (1a).. 23 10% Diamond T Mot (1). 28 15% Dist Corp-Seag .. 96 46% 51 70 Dist-Seag pf ww(5) 28 Doehler Die(1.508) - 36% Dome Mines (4.508). 77% 32% Douglas Aircraft__. 159% 103 Dow Chem (3.35g) 39% 15 Dresser B (le) 8% 2i5 Dunhill Intl e 180% 136 Du Pont deN(4%g). 115% 110 Duquesne 1st pf(5). 198 151 Eastman Kodak (8) 16 6% EiungonSch ... 29 20% El Paso Nat G (2) . 45% 28l Elec Auto L(2.208)- 16 7i Elec Boat 7% 4% Elec & Mus (.18¢ 26% 134 Elec Pow & Lt 87 44 921 46'5 4415 2815 115% 105% 9% 3 28% 9% 35% 13% 281 10's B4% 134 2 Elec Stor Bat (2)_. Endicott-Joh pf(5). Equit Off Bldg. ErieRR _ Erie 1st pf Erie R R 24 pt. Evans Prod (1) - Exchange Buffet. Fairbanks Co Fairbanks pf. = Fairbanks Mrse(1a) Fajardo Sugar(3g)- Fed Lt&Trac pf(6)- Federal Motor. Federal Screw Federal Wat Sve A. Fed Dept Strs (2) - Fid Phoenix(1.60a). Filene's Sons .T0g Firestone T & R(2) Kirestone T pf (6) . First Nat Strs(233) Flintkote (1) - Florence Stov 1.50g. Follansbee Bros Food Mach (2.50a) - ¥ood Mach pf(413)- Foster Wheeler Francisco Sugar Freeport Sul (18) - Freeport Sul pf (6). Fuller Co pr pt. Fuller 2d pt_ Gair (Robert) Gamewell __ 93'; Gannett cv p! L 7% Gar Wood Ind (%&) 873 Gen Am Inv 47 Gen Am Trns(1%g) 9 Gen Baking (.60) .. 4% Gen Bronze 12 Gen Cable. 26 Gen Cable A_ 41% Gen Elec (1.208) - 33Y% Gen Foods (2, L4 GenG & EL A 56'3 Gen Mills (3) _ 117 Gen Mills pf (6 7015 46l Gen Motors (2}48)- 122% 113 Gen Mot pf (5) 15% 7 GenOut Adv 30 GenOutAdvA ___. 12 Gen Prtg Ink(.608) - 4 Gen Pub Sve '« Gen Ry Signal (1) 2 Gen Real & Util_ 3 Gen Refract (Zh).. 30 Gen Stl Cast pf. 17% Gen Theater Eq.75g 5y 6% 17% llette Saf R .75g .. 27 Gimbel Bros 2 Gimbel Bros pf (6)- 31'3 Glidden Co (2a) . 2 Gobel Adolf___ Goebel Brew (.20a). 23 Goodrich (BF) 18 _ 27 Goodyear T&R 1.505 9613 Goodyr T&R pf (5). 6 Gotham Silk H 2 Graham-Paige 57 Granby Consol. 2 Grand Union__ 14 Grand Union p! 22 Gran City Stl (%g)- 30% Grant (WT) (1.40a) 36'% Great Nor Ry pf___. 14% Gr't Nor Ore ct(%g) 30 Grt Wst Sug(2.40a) 23% Green (HL) (1.60a) 10% Greyhound (.80)___ 25'3 Gulf Mob & Nor pf.. 8 Hall Print____ 30% Harb-Walk (1. 2% Hayes Body.-... ... 9% Hecker Prod (.60a). 963 Helme (G W) (5a)-. 39% 234 Hercules Mot (1) ... 185 123 Hercules Powd (6). 4% Herc Prts Oct 14._. 50 Hershey Choc (3).. 94 Hershcv pf (4a) - 24 Holland Furn 1.50g. 98 Holland F pf (5} 16% Hollander (1) 23 Holly Sug (2%g)--. 43!5 Homestake Min 4% 30'%s Houd-Her A (2% ). 16'% Houd-Her B (1%).. 8% Houston Ofl .. _ 58 Howe Sound (3a)-. 213 Hudson & Man 9% Hudson Motor-.. 2% Huop Motor-. ---.. 145 Illino!s Central ... 50 Ill Cent LL (4) ... 22% 9 Indian Refining.. 144 102 Ingersol Rand(3g)- 131% 81 Inland Steel (4a)__. 33% 13% Inspiration Copper. 6 4% Insuranshar (.108). 13% 4 Interb Rap Tr new._ 641 34 Interchem Corp(2). 2813 12% Interlake Iron .40g- 9% 3% Intl Agricul ..., 6315 32 Intl Aeri pr pf (3k). 189 137 Intl Bus Mach (68). 120 86% Intl Harv (2.50a) . 8 15% 126 16% 15% 18% 6% Intl Hydro-Elec A. 5 Int Mer Marine. __.. 81 Intl Mining (.458)-. 49% Intl Nickel (1.508)-. 14% Intl Pap & Pow new 58Y% Intl Pap & P pf new 43 Int Ry Cent Am pf. 40 Intl Shoe (2) 855 Interst Dept pf (7). 11% Intertype (.30g) 24Y Island Crk Coal 55 95 Johns-Manv (3a). 126 120 Johns-Manv pf (7). 186 105 Jones&Lau pf 5.25k. 25 Kalam Stove (1a) 9 Kansas City Sou.... 17% Kansas City Sou pf. 17% Kayser (J) .1.50g--. 11 Kelsey-Hayes A ... 8Y% Kel-Hayes Wh B... 44 Kennecott (28) . 11% Keystone S&W (1)- 18 Kinney pr pf 6% Kresge Dep Store: 19% Kresge (S S) .90, 284 Kress (S H) (1.60). 18 Krozer Groc (1.60). 10 Laclede Gas 15% Lambert (2) 15 Lee Rub& T —e 20 Lehigh PortC (1%) 1% Lehigh Valley Coal. 6 Lehigh Val Coal pf. 8% Lehigh Valley R R 31% Lehman Corp (1a).. 54 Lib-Ow-Glass (3g 9% Libby McN&L 1.40) 25% Life Savers (1.60a). 114 88 Liggett& M B (4a). 175 151 Ligg & Myers pf(T) 4 1501 Salds— Net Add 00. High, Low. Close, chge. 4 9 8% 8% oo o o » - 0500 e N CI IS @ 10 0 TS 00 i i 69 09 1 10N 00 00 A 1 1O S S B 9 1S A G e i 10 ) e % $ES RES L8 Eldtitadt4 EEF FENTEEE i P ekt TG o e s FEFEEL SEE 6% 8% 51% 16% 611 46% 40% 8 1815 834 14 25 11 105 101% 102 208 123 208 105 3 3 3 1 1 3 1 9 2 . 1 9 1 2 . 6 2 3 4 9 701 5 2 4 8 2 7 1 123 128 105 105 24% 11 19% 16% + 17% + 23% + 1% T + g 33% — 58% +1 11 = % 25% + % 93% 924 93 +1% 160% 160% 160% — % EEF FEFF IFEFE :15 p.m. Prev 1037 Stock and High. Low. ' Dividend Rate, 23' 18% Lily Tul Cup (1%). 83% 37l Lima Loco (1k) .. 26% 20 Liquid Carb (1.608). 87% 64% Loew's Inc (8g) .- 3% 1 - 5% 88 Lone Star Cem (3) 10% 4 Long-BellA ___ 43% 25% Loose-Wil Bis (2)_. 19 Lorillard (P) (1.20) 17% Louisv G&E A 1% . 70 Louisv & Nash(6g). 22% Ludlum Steel (1)_... 29 MacAnd&F (2a)_.. 17% McCall Corp (1.50) 12 McCrory Strs - 32% MclIntyre Pore (2) 9% McKesson & Rob... 39 McKess& R pf (3). 9 McLellan Strs .95g_ 29 Mack Trucks (1) 36% Macy (R H) (2a) 10 Mad Sq Gar (1.15g). 31 Magma Cop (1%g)- 3! Manat! Sugar (r)__. 6 Man Ry mod gtd(r). 2% Maracaibo Oil - 7% Marine Midl (.40a).. 7 Market St Ry pf .. 1% Market St Ry 2d pf. 12 Market St Ry pr pf. 17 Marshal Fleld ... 4 Martin-Parry % Masonite (1&) ... Math Alkall (1%) .. 's May Dept Strs (3a). MAFSS- . .. - . cove Mead Corp (1g) Mead pf B ww 5.50 Melville Shoe (5) . Mengel - Mengel 5% pr(2i). Mesta Mach(3.75g8) - Miami Copper = Mid-Cont Pet (%g) Midland Steel (2) _ Midland Stl 1 pf(8). Minn-Hon Reg (3). Minn-Mol Imp M StP&SS Marie .. Minn StP&SSm LL. 4 Mo-Kan-Texas Mo-Kan-Tex p! Mo Pacifie (r) Mo Pacific pf (r) .. Mohawk Crp(1.20a) MonsantoCh 1%#» . Montgom Ward(2a) Morris & Esx (3%). Mother Lode ~ve Motor-Prod (2.50g). Motor Wheel (1.60) Mueller Brass (1a). Mullins Mfg (B) Munsingwear 1.50a. Murphy (G C) 3.60. Murray Corp ... Nash-Kelv (1) _ Natl Acme (4%g) Natl Aviation Natl Biscult (1.60) . 215 Natl Cash Reg(1g) - Natl Dairy P (1.20). Natl Dairy pf A(7)- atl Dept Strs Natl Dept Strspf__. Natl Distill (2) _ tl En & Stpg (2) - Natl Gypsum Natl Lead (%) Natl Mal'able 1.50g. Natl Pw & Lt (.60)_ 2 Steel (2.508) . Natl Supply atl Tea (.30g) .. atomas (.80) _ Neisner Bros (2) . Newberry 5% pf(5) Newp't Indust (2g) N Y Air Br (1%s8) .. 1124 107% 10 . 514 - Chn&StLopf _ »City Om 2.40g.. Dock - N 4 e e ot Y Steam $7 pf_ N Y Steam $7 pf cfs Norfolk & West(10) Norfolk & W pf (4). North Am Aviat 2 North Am (.90g) North Am Co pf(3). North Am Ed pf(6). Northern Cent (4) Northern Pacific Norwalk T& R. Ohto O1l (}%8) Oliver Farm Omnibus 3 Omnibus pf (8) Oppenheim Col %g. Otis Elevator .80g .. Otis Elev pf (6) . Otis Steel - Otis Stl 1st pf 635 - Crutboard M (2.50g) Owens-111 Gl 1%g - Pac Am Fish (1.20) x Pac Coast ___ Pac Gas & El (2) Pac Lighting (3). % Pacific Mills(1%ag). Pac West Ol (.65e) Packard Mot(.25g) - Panhandle P&R (r) Panhan P&R pf (r). Paraffine (3g) - 99 Paraffine pf (4) 16% Paramount Plet.. 14% Paramount 2 pf (.60} 22'% Park & Tilfora (2) 3 Park Utah -oe 331 Parke Davis 1.80g_. 23 Parker Rust-Pr1%. 2 Parmelee Trans. 6% Pathe Film 11 Patino Mines 3% Peerless (.30g) 81 Penney (JC) (3g)-- 4% Penn-Dixie Cement. 26 Penn-Dixiepf A __. 28 PennRR (%g) 35 PeoplesGas Lt &C. 16 Pere Marquette ___ 1214 Petro Corp (.90g) - 6 Pfeiffer Brew .90g). 31% Phelps Dodge 1% &- 87% Phila Co 6% pf (3) x 4% Phila Rap Tr pf (r) 7 Phila Read C&I(r)_- 70 Philip Morris (3)._.x 45 Phillips Pet (2a) 9 Pierce Oil pf_. 25 Pills Flour (1.60)_.. 9 Pitts Coal _ - 914 Pitts Screw (.45g) _. 72 Pitts Seetl pf B (7) 2% Piits United .- 17% Pitts & W Va % PittstonCo _ 18 Plymonth Oil 1.05g- 12 Poor & Co B - 3% Porto Ric-Am T A_. 4% Postal T & C pf (r). 11% Press Stl Car .258 .- 11% PressSC1pf (%) 34'% PressStIC 2 pf 2%5. 6515 49'% Procter & Gam (2a) 118% 114% Procter & G pf (5) .. 52% 35% PubSve NJ (2.60). 1623 132 Pub Sve N J pf (8)_ 2% 34% Pullman (1%) ales— Add 00. High, 1 Low. Close. chge. 19! % Aly 21% T1% Net 19% — Al% + 21% + 2% + Prev 1937 High. Low. 49% 30% 34y 67 58 8614 38 2:15 pm. Bales— Net Add 00. High, Low. Close. chge. 4 21% 21% + % 18% + % 154 + % 62 -3 49% + 4 64 + % 23 Stock and Dividend Rate. 17% Revere Copper & B. 17% Reynolds Met (1) 13 Reynolds Spr (1) 59% Reynolds Tob (3) .. 47% Reynolds Tob B (3) 60 Roan Antelope 1.113 23 Ruberoid (.60) ... 27% Safeway Strs (2)._. 95 Safeway Strs pf(5) 42% St Joseph Lead(2a) 1% St L-San Fran (r) . 3% St L-San Frn of (r) 14% Savage Arms(.758). 34 Schenley Distill(3). 1 Schulte Ret (r) ... 37% Scott Paper (1.058). 1 Seaboard Air L (r). 3 Seaboard A L pf (r) 26Y% Seaboard Ol (1) 70% Sears Roeb (3) 1914 Servel Corp (1a) ... 22% Sharon Steel (1.20). 80 Sharon Stl pf (5) 6% Sharp & Dohme 9% Shattuck FG (.60)... 19'% Shell Unton (%g)-. 9% Silver King (.90g) .. 27% Simmons Co 1.75g 3 Simms Petroleum Simonds Saw (.50g) Skelly Oil (1g) Sloss-Sheffleld S& 1 Smith (A O) Smith & Cor (1%g). 4 Snider Pacis (1%8). 16% Socony Vac .608) _. 2!3 Sou Am G&P (.10g) 2813 South P.R.Sug (2a). 20%s Sou Cal Edis (1%a) Sou Pacific .. Southern Ry . Southern Ry pf. Spalding Spalding 1st pf Spang Chal pf (6)_. Sparks With Spen-Kell (1.60a) - Sperry Corp (.60g) - Spicer pf A (3) Spiegel Inc (%g).. Spiegel pf (415) __. Square D Co (.95g) - Stand Brands (.80). Stand Com Tob ___. Stand Gas & El (r). % Stand G & E pf (r) . Std G&E $6 prpf(r) St G&E 7% p pf(r) Stand O] Calif (1a) Stand Oil Ind (1a) .. Std Oil Kansas _ Stand OfI N J (1a) . Sterling Prod(3.80) Stewart-Warn(%a) Stone & Web Studebaker Sun Oil pf (6) ._ Sunshine Mng (3) Superheater (1.75g) Superfor Oil _____ Superior Steel Swift & Co (1.2 Symington ww .35g8. Symington xw .35g. Talcott Inc (.60a) - Telautograph (.60). Tenn Corp (%g) .- Texas Corp (2) ___. Texas Gulf Prod .. Tex Gulf Sul (2a) .. Tex & Pac Ry Tex Pac C&O (.4 Tex Pac Land Tr. ¢ Thermoid _ Thomp Prod 1.40g._. Thompson-Star __. Tide-Water As(1a). Tide-W As pf (41%) Timk-Det Ax .50g . Timken Roll B(3a). Transamerica Corp Trans & West Afr _ Transue & W (.30g) Tri-Cont Corp (%g) Truax-Traer (.80)_. ‘Truscon Steel 20th Cent-F 1.50g__. 20thC-FFpf1is._. Twin City pf (Tk) .. Twin Coach (.30g) . Ulen & Co - Und'w'd-El-F 3.25g Un Bag & Pap ne Union Carbide 3.20g Un Oil of Cal (.858) Un Pacific (6) . Un Pacifie pf (4) Unit Aircraft (%g) Unit Air Lines. ___ Unit Biscuit (1.60)_ Unit-Carr Fast (2). 2 Unit Corp —— Unit Corp pf (3) Unit Drug (%g) - Unit Dyewood (1a). Unit Elec Coal Unit Fruit (3) _ Unit Gas Imp (1) ._ Unit Paperbd (.30g) U S & Foreign Sec . U S Freight (1%e)._ U S Gypsum (2) . U S Hoffman Mach. U S Indus Alco. US Leather _ US Leather A_. 24 34% 85% 20 20 b - TP TE R AP P PR P PR Py o Rubber 1st pf _ S Sm & Ref (82) - x U S Steel 1y U S Steel of (7)____ Unit Stockyds (1) x Unit Stores A _____ Univ Leaf Tob (3a) Util P& Lt A (1) Vadsco____ .. Vanadium Steel___. Van Raalte (2%g) . Vick Chemical (2a). Va-Caro Chem Va-Caro 6 pf(1%k). Wabash Ry (r) ... Wabash pf A (r) Wabash pt B (r) Waldorf Sys(.80g) - Walgreen (2) __ Walker H G&W (2) - Walworth Ward Baking A Ward Baking B Warner Bros Pict._. Warren Bros (r) __ Warren Fdy &P (2a) 4 Waukesha Mot (1a) Wayne Pump (2a) . Webster Eisenlohr _ Wesson O & S (%a) West Penn El p£(6) West Auto Sup 1.60 Western Pac pf ___ West Un Tel 2.258 _ Westinghse Air (1) Westhse E1&M (3g) Weston El In .7T5g - 55 Westvaco Chl pf 115 Wheeling Stl___._. White Motor _ White Rk M Sp 1.40 « White Sew M pf _ Willys Overland _. Willys-Ov'd pf .60_ Wilson & Co (%) Wilson $6 pf (6) Woolworth (2.40) . Worthington Pump Wrigley Jr (3a) U u u u U Swifampreo~es 0 8 o E TP TP JOPS PP - PPN Y ISP PP e 20 wWeH | Bank of Manhattan (1%2) 24% 14% Pure Oil 5 107 95 PureOil 6% pf (6)- 112% 107% Pure Oil pf (8) 23% 9% Purity Bak (.4 12% 7% Radio Corp.._ 80 9% R RSecIlICStk___ 27% Raybest-Man(1%g) 28% Reading Co (2) -oee. 12 Reliable Strs (1) 121% Reliance M{f (.60 29% 16% Rem Rand (1.05g. 315 Reo Motor. . 22% Republic Steel 88 Rep Stlcv pf(4%k) A. 0. SMITH EARNS $16,555 FOR YEAR Profit Compares With $862,659, Recorded in Previous Fiscal Period. By the Associated Press. NEW YORK, September 30.—A. O. Smith Corp. and subsidiaries, Milwau- kee, Wis,, manufacturer of fabricated steel products, which last year ex- tended its activities to gold mining in Nevada, for the fiscal year ended July 31 reported net income of $16,555 Id 37% 13% 142 110 46% 31% 101% 54% Yellow Truck Yellow Trk pf (7). Youns Spring (3) .- Ygstwn Sh&T 2.508 27 inclug x Ex di last year. year. clared this vear. ividend. 1 Pay: after charges, includmg net loss on sale of securities, equal to 3 cents a common share. This compared with net income of $862,659, or $1.72 a share, in the preceding fiscal year. In a statement accompanying the report, the company said: “Operations for the year ended July 31, 1937, ab- sorbed costs of approximately $916,000 | incurred in development and explora- tion work as to mining properties, of which the Round Mountain operation in Nevada constituted the major por- tion. “These costs were absorbed cursgntly during the fiscal year, except that a balance of approximately $647,000 ap- plicable to the Round Mountain prop- 43% 30 Zenith Radio(1%g) 9% 3% Zonite Prod Approximate Sales of Stocks on the N. Y. Stock Exchange, xr Ex rights. a Also extra or extras. able 3 hCash or stock. 21 5 320,000 710,000 12:00 Noon.. 3:00 P.M,, .. 530,000 850,000 8 Actual sales’ unit of trading 10 shares. T In bankruptcy or receivership or being reorganized under bankruptey act or securities assumed by such companies. Rates of dividends in the foregoing table are annual dis- bursements based on the last quarterly or semi-annual declara- tion. Uness otherwlse noted special or extra dividends are not led. e Pald A clared or paid so far this B R Acculuiated: dividend paid O ‘de erty, which had previously been car- ried as a deferred charge, was absorbed in July operations, when this property was finally abandoned.” ———— STOCK INCREASE APPROVED. NEW YORK, September 30 (Spe- cial).—Stockholders of Railroad Em- ployes’ Corp., New Yosk City, yesterday approved a proposed change in the company’s capitalization, incmreasing the authorized class A common stock from 60,000 no-par shares, of which 48,981 shares are presently out- standing, to 250,000 shares without par value. Offering of the stock will be made to present stockholders prior to public offering. STOCKS IRREGULAR AT END OF SESSION Advancing Momentum Lost After Early Rise of Fractions to $2. Stock Averages 15 15 60 Indust. Ralls. Util. Stocks Net change +10 +6 +3 +.7 Today, noon 81.3 30.0 Prev. day.. 80.3 294 Month ago. 89.7 33.9 Year ago.. 90.2 39.6 1937 high._101.6 49.5 1937 low... 763 27.3 1936 high.. 993 435 1936 low... 734 30.2 434 55.7 1932 low... 175 8.7 239 169 1929 high__146.9 153.9 184.3 157.7 1927 low... 51.6 953 618 618 315 312 402 51.0 54.0 354 53.7 57.3 56.6 63.2 67.7 5.3 53.7 2.8 (Compiled by the Associated Press.) BY VICTOR EUBANK, Associated Press Financia Writer. NEW YORK, September 30.—Lead- ing stocks extended their Wednesday's rally on a broad scale during today's early market proceedings, but lost ad- * vancing momentum later and finished | with trends indefinite. At the best gains ranged from frac- tions to 2 or more points, with buy- ing concentrated in coppers, gold mines, steels, rails and farm imple- ments, Smallness of the trading volume, however, apparently encouragedtraders to cash in some of their profits which had accumulated in the previous two | sessions and extreme upturns were reduced, canceled or converted into losses in the final hour. While the general run of news was colorless trom the market's standpoint, sentiment was buoyed to a certain | extent by improvement of securities in London and Paris. Commodities . were uneven. Gold stocks were given a brisk up- ward push for a while as the price of the yellow metal was lifted in Lon- | don and hoarding was reported on the | increase in Europe, The ticker tape idled frequently and transfers approximated 1,150,000 shares. Among the better performers were 4 | Anaconda, Kennecott, Cerro de Pasco, Inspiration Copper, International Nickel, Howe Sound, Unjted States Smelting, McIntyre, Homestake, Alas- ka Juneau, Dome, Mack Truck, United 4, States Rubber, Firestone Tire, Wool- worth, Macy. J. I Case, International Horvester, Deere, United Aircraft, :|Glenn Martin, American Bank Note, J. C. Penney, American Can, Amer- ada, Continental Can, Radio Corp., s | Loew's, Liggett & Myers “B," Air Re- duction, Canada Dry, Crown Cork. Atlantic Coast Line, Santa Fe, Ches- | apeake & Ohio and Pullman. Narrow to off a point or so were United States Steel, Bethlehem, « | Wheeling Steel, Republic, General Mo- | tors, Chrysler, Yellow Truck, Good- vear, Goodrich, Douglas Alrcraft | American Telephone, Consolidated | Edison, North American, Montgomery Ward. Sears Roebuck, Paramount, American Radiator, Westinghouse, General Electric, Du Pont, Standard O1l of New Jersey, New York Central, Southern Pacific, Great Northern, Union Pacific and John-Manville, . NEW YORK COTTON By the Associated Press, NEW YORK, September 30.—Cot- ton moved over a narrow range today, and while trade buying furnished re- sistance on reactions, moderate hedze selling and liquidation, influenced b favorable weather, checked advances | December moved between 8.17 and 822 and in midafternoon was 8.18, when prices generally were 1 to 7 points net lower. Putures closed steady. 4 to # lower i igh. Low. _Las uly Spot steady: middling. 8.4 Cottonseed Oil. Bleachable cottonseed oil futures closed firm, 16 to 18 higher. Sales, 215 contracts. October, 7.33b; De- cember, 7.41; January, 7.45b; March, 7.50; May, 7.56b. b—Bid. New Orleans Prices. NEW ORLEANS, September 30 () favorable cables and continued good erop weather in the belt brought slightly lower prices in cotton here today. Initial transactions were 3 to 7 net lower, with December selling at March at’ 833, May. %.39, and Ji K47 positions ~ were nomi lower. Little support appeared and toward the end of the first half hour active months were unchanged to 3 points above the opening figures. Cottonseed oil op Qctober. 6.79b; d. points steady 6.68b: December. March, 6.86b: May. Liverpood Quotations. LIVERPOOL, September 30 (#).—Cotton. no receipts. “Better demand in spots, im- proved business. Prices 4 points lower. Quotations in_pence: Amgrican, strict good middling, ®ood middling. 5.47: strict middling. middiing. 4.97: striet low middling. 4.67; Jow middling. 4.17: strict 200d ordinary. 3.67: good ordinary, 3.27 Futures closed quiel: October. 4.67: De- cember, 4.55: January 4.81: March, 4.8% May. 4.03: July. 4.95. Noon official close September™ {1937), value. NEW YORK BANK STOCKS NEW YORK. September 30 () —New York Security Dealers’ Association (Quotations &s &f 2 o'clock.) Bid Asked. 30 Bankers Trust (2) Brooklyn Trust (%) 1 Cen Han Bank & Tr (4) Chase National (1.40) Chem Bank & Tr (1.80) _ Commercial (%) Cont Bank & Tr_ (.80) Corn Ex Bk & Tr (3) Empire Trust ‘(1) 2613 First National (Boston) (2) 4114 Pirst National (100} -1995 Guaranty Trust (12) Iming Trust (.60) 5 Manufacturers Trust (2) Manufacturers Tr pf (2) National City (1 N Y Trust (5 Public (1 Title Guar FEDERAL LAND BANKS NEW YORK. September 30 () —Fed- gral Lend Bank bonds. ov.. - g METAL MARKET. QRK, September 30 (#).—Cop- * 1" electrolytic spot and future. rt, 12.10. Tin steady: 713; future, 5 dy: spot, New York. 6.00- East St. Louis. 5.85. Zine steady: East St. Louls spot and future. 6.50. Iron. aluminum, antimony. quicksilver platinum and wol- framite quiet and unchanged. PITTSBURGH STEEL NET UP. NEW YORK, September 30 (#)— Net profit of Pittspurgh Steel Co. for the fiscal year ended June 30 was $1,391,664, or $1.85 a common share, against a net loss in the pre- ceding fiscal year of $265,359. N .