Evening Star Newspaper, October 4, 1937, Page 18

A—I8 w¥x YEAR'S INSURANCE AGTIVITIES BEGIN Reservations for Arnold Ad- dress at Willard Break Records. BY EDWARD C. STONE. Three hundred members of the Dis- trict of Columbia Life Underwriters Association and guests made reserva- tions for the opening Fall luncheon meeting arranged for this noon in the large ball- room at the Wil- lard Hotel, hang- FINANCIAL. THE EVENING STAR, WASHINGTON, D. C, MONDAY, OCTOBER 4, 1937. FINANCIAL. TRANSACTIONS ON THE NEW YORK STOCK EXCHANG ESTOCS G0 DOWN FRAGTIONS 10 §2 Steel and Carrier Shares Assume Leadership of Late Decline. m, 2:30 p.m. Net Prev 1937 8tock and !llfl.— Low. Close. ehge. | High.Low. Dividend Rate. _ Add 00. AT A% — N 213 Sou Am G&P (.10g) 8 29% 29% — % 2815 South P.R.Sug (2a). h A-W 20 Sou Cal Edis (1%a) 2 28 4+ % 284 Sou Pacific 1744 174% Southern Ry .. __. 26 23Y% Southern Ry pf._. /7% 414 Spalding . 63 89 Spang Chal pf (6) A4 4Y% Sparks With . 5 15% 73% Spear & Co pf (5%) 508 22 24 Spen-Kell (1.60a) _. 1 16% 1244 Sperry Corp (.60g) - 23 224 Spicer Mfg (2g) 22 14 Splegel Inc (%g) 25 70 Splegel pf (4%) 10 Stand Brands (.80)_ 2% Stand Com Tob._ 5% Stand Gas & El (r)- 111 Stand G & E pf (r) - 24% Std G&E $6 prpf (r) 29 StG&E 7% p pt(r) 36'% Stand Oil Calif (1a) 36% Stand Oil Ind (1a)_. 52% Stand OII N J (1a)_. Prev 1937 Stock and High. Low. Dividend Rate, 14% 6% Cuban-Am Sugar.. 20% 6% Curtis Pub 109's 55 Curtis Pub pf (7). 8% p.m, snles— Add 00. High, 38 1 Fo 8 Prev 1937 Stock and High. Low. _ Dividend Rate. 69 4 Montgom Ward(2a) 29% Morrell & Co % Mother Lode Motor Prod (2.50g' Motor Wheel (1. so) Mueller Brass (1 Mullins Mfg B Murphy (G C) 3.60. Murray Corp_ Nash-Kelv (1) ... Nash Chat & StL__. Natl Acma (%g) .-~ Natl Biscult (1.60) . Natl Bnd & Inv 1.44 Natl Cash Reg(1g) - Natl Dairy P (1.20). Natl Dairy pt A(7)- Natl Dept Strs ... Natl Dept Strs pf_.. Natl Distill (2)oeee. Natl Gypsum_._.. Natl Lead (%) ... Natl Lead pf A (7). Natl Lead pf B (6) . Net Prev 1937 . Low. Close, chge, . Low. 40 124 Stock and ales— Dividend Rate. Add 00. Higl Abbott Lab ( s lL Adams Exp (. Adams-Millis tz)_.. Addressog (1.40) Air Reduction (1a)_ Air-Way El1 Ap . Alaska Jun (.60a) Alleghany _._ Alles pf $30 ww Alles Steel (1.20g, Allen Indus (1) - Allied Chem (6) ___ Allied Stores (.20a) Allis Chalm (28) __ Alpba Portland (1) Amal Leath .. Amerada (2) - Am Bank Note % g_ Am Brake Sh (2g) . Am Brake S pf 5% _ Am Can (48) Am Car & Fy (%g). Am Car & F pf (4g) Net Low. Close. chge. 43y 434 + Y Add 00. High, 3 6 ™ 591 4's 14% 34 61 Net Low. Close. chge. KK 6%~ W e 23% 62 30 Cushmanpf.__ 541 Cutler-Ham (2g). 10 Davega Stores (1a) 15 Davega St pf (1%)- 974% Deere & Co (28) - 234 Deere & Co pf(1.40) 14% Deisel-Wem-G (1a) 23 Del& Hud . 10 Del Lack & W - 2% Den&Rio GW pf(r). 2213 Diamond Mat (1a).. 33 Diam Mat pf(1%a 107 Diamond T Mot (1). 15 Dist Corp-Seag 17'y Dixie-Vortex (1%). 28 Doehler Die(1.50)_ 3614 Dome Mines(4.508). 32% Douglas Alrcraft _. 103 Dow Chem (3.35g) .. -1 —ro Stock Averages ll?‘u 107% 24% 10 10% 5l 35 26% 18 6% 44 29, 171 154% 150 127 Induse. Ratis. U0 Sthcks Net change Unc. Unc. Unc. Unc. Today, noon 80.1 294 37.1 565 Prev. day... 80.1 29.4 37.1 565 Month ago. 905 343 405 63.7 Year ago._.. 928 419 520 69.8 25 46% 51 T 159% 0 S ing up a new at- tendance record. The guest speaker on to- day’s program was O. J. Arnold, president of the Northwestern Na- tional Life Insur- ance Co,, of Min- neapolis. He is chairman of the Insurance Com- mittee of the United States Chamber of *Commerce, one of the directors of the Life Ins ce Sales Research Bu- reau, of Hartford, and was one of the outstanding speakers at the recent underwriters' national convention in Denver. He was asked to speak here on “Social Security Through Life In- surance.” New Leader Presides. Paul H. Primm, who was elevated | to the p-esidency at the annual elec- tion, presided for the first time today. The other new officers also took their | places at the head table, The guest speaker, Mr. Arnold, made his address more or less his- torical, tracing the hope for social eecurity from the beginning of civ- ilization. He said the 50-year period | from 1879 to 1929 in the United States saw the greatest accomplish- ment of social security objectives in | the world history. He added: “Science, in the field of medicine, in industry, in agriculture, in inven- 0. J. Arnold. tions and new ways of doing things, has given our generation a better grasp of social security than any people have previously had. All se advantages have now become a part of our iucational system. Through- out this 50-vear period the life in- | tutions built up a system the future needs of men to overcome the threat In conclusion, he stressed the value of life insurance savings as a reser- voir of purchasinz power available for use when most needed Bankers Form Speakers' Unit. President Thomas J. Groom of the | District Bankers' Association has or- ganized a speakers' unit to represent the association before schools, trade | boards, civic bodies and other groups, | announcing the following appoint- ments today. Frederick P. H. Siddons, American Security past president of the ascociation, chairman; Hilleary G. Hoskinson, | vice president of Riggs National and | first vice president of the bankers'| association; Ord Preston, president, Union Trust Co, and the association’s | second vice president: A. M. McLach- | fen, treasurer, McLachlen Bank and| third vice president of the association; | Donald W, Larson, assistant secretar: Robert V. Fleming, president. Rigt National. Wilmer J. Waller, vice presi- Hamilton National: Francis G. . Jr., president, Security Sav- s & Commercial: Sidney F. Talia ferro, vice president, Riges Natlona Norman E. Towson, assistant treas-| urer, Washington Loan & Trust Co.; W. T. Vandoren, vice president, Lib- erty National: Ralph Endicott, assist- | ant treasurer, Washington Loan & Trust Co.; John A. Reilly, president, | Second National, and I. J. Roberts, | assistant cashier, Riggs National, | The new unit will hold a meeting at the Chevy Chase Club this evening, when complete plans for the year, in- | cluding the subjects to be treated, will be outlined. The new unit, through | Chairman Siddons, will fill th grow- | ing demand for speakers on vital bank- ing problems. Similar units 6rzanized in other banking associations have met with marked success. secretary, & Trust Co., and | { Sales and Collections Rise, Manufacturers' sales showed a! marked gain during August as com- pared with August, 1936, while the | rate of collections on accounts receiv- able decreased slightly according to reports from manufacturers co-operat- | ing in the monthly joint study of the National Association of Credit Men and the Bureau of Foreign and Do- mestic Commerce. The total net sales of 525 manufacturers throughout the | country registered an increase of al- most 14 per cent from August, 1936. Total sales increased in August, 1937, over the same month last year for all of the 13 industry groups shown in the report except chemicals and ellied products, which recorded a de- cline of about 2 per cent. The in- creases ranged from 29 per cent for machinery, not including transporta- tion equipment, to about one-haif of | one per cent for food and kindred | products. Percentages of collections on ac- | counts receivable submitted by 520 | manufacturers for August, 1937, av- | eraged slightly less than for August a | year ago and almost the same as for July of this year. During August this year the manufacturers reporting col- lected 78.0 per cent of their accounts receivable outstanding on the first of the month as compared with 80 per cent collected during August of last year and 78.5 per cent during July, 1937, Business Volume Up Sharply. Charles Delmar, president of Lin- coln Service Corp., Industrial Bankers, Washington, with operating subsidia- ries in the States of Maryland, Penn- sylvania, Virginia and West Virginia, announces that the volume of business done for the quarter ended September 80 increased 38 per cent over the volume of business for the correspond- ing period in 1936. Washington Chapter, American In- etitute of Banking, will hold an oyster roast and dance at Brooke John's Farm, Norbeck, Md, a week from Baturday. George M. Rowzee, jr., Lincoln National, is chairman of the committee, the other members includ- ing Donald Hollingsworth, James Brun, Stephen O. Porter, William Of- futt, Ralph Mittendorf, George Gal- leher and Frederick A. Daum. State chartered building and loan association members of the Federal Home Loan Bank Board increased new mortgage loans 29 per cent in August over the same month last year. Fed- eral savings and loan associations show an increase of 26 per cent in new loans for the same 12 100°C Bans 116 37 28% 1007 25% 813 3 1% Am Ch&Cable 1g. Am Colortype Am Comcl Alco Am Crys Sug 3.2 Am European Sec. Am Express (6) . Am & Foreign Pow. Am&FPS6pt . Am & For Pw $7 pf Am & For Pw 2d pt Am-Hawailan § (1) Am Hide & Leath Am Home Pr (2.40) Am Ice < « Am lee pt (1.50g) Am International- Am Locomotive Am M & Fdy (% g). 3 Am M & Met (.60) « Am News N Y (3) - Am Pow & Lt Am P& L $6 pf (§). Am Rad & St S( 60) Am Rolling Mill (2) Am Roll M evpf 415 Am Shipbldag (2a) . Am Sm & Ref (43) Am Smelt pf (1) __. Am Snuff (3a) __ Am Stl Foun 1.50g, Am Stores (1.50g) . Am Sugar Ref (2) Am Sumatra (1a) « Am Tel & Tel (9) ¢ Am Tobacco B (5) « Am Tob pf (8) _ Am Type Fdrs . Am Wat Wks (.60g) Am Wonlen . « Am Woolen pf(3k)_ AmZine L&S . « Anaconda (1.25g) Anchor Cap (.45g) . AP W Paper 2 Arch-Dan-M 1. 50g. Armour 111 (.552)__ Arm 111 pr pf (m £ Armst's Ck (1.50g)- i Asso Dry Goods AtchT&SF Atchison pf (5) Atlantic Coast Line Atlantic Refin (1) Atl Refining pf (4) Atlas Corp (.80) a2 Atlas Corp pf (3)_ Auburn Auto Aviation Corp Baldw Lo ctfs w.i, 15% Balto & Ohlo 20's Balto & Ohto pf 34ia Bang & Ar (21;) _ Ar pf (3 T3 Barber Co (14g) .. 167¢ Barnsdall (1) 9 Beldin-Hem (1) 14'¢ Bendix Aviat .75g . 17~. Benaf Ln (1.321;g) Best & Co (212a) rnn. Bethlenm St1 2 50g 103 Beth St17% pf (7). 42 Bigelow-San (3g) - 18 Black & Deck (1a). 121 Blaw-Knox (.708)_. 21% Boelng Airpl 32 Bohn Alum (2 7og). 40 Bon Ami(B)(2.30) 207 Borden (1.60) 36% Bore-Warner (2)_ < Boston & Maine _ Brid o S © TR 0 s ot GO 1 ORI D e T 0G0 GO D 03 00 O e £ A 0 00 GG o B "2 E e mmmaum e Gan m Rl an S nnnn= Do 107 £ @ -8 o 9019 00 1 1 00 L 1 20 3 00 e 31 15 53 =1 00 bk ik (3 7109 35 1154 v (2.402) Man (21;8) _ 32'3 Bklyn-Man pf (6)_. 2 Bklyn & Queens 7'a BKIyn & Q T pf - 24's Bklyn Un Gas 230 11% Brunsw-Balk .50z _ 11% Bueyrus-Eris 255 5's Budd Mfg 54 Budd Mfg pt 5“ Budd Wheel (. ZUK} BullardCo (1) _ _ 35%; Bulova Watch (4a) 10 Burlington Mills(1) 22'; Burr Ad Mch(.65g) 315 Bush Term (r) 145 Bush T Bld pf ct(r) 10% Butler Bros (.60) 2413 Butler Bros pf(l‘,g) 4 Butte Copper&Z.. 11 Byers Co 51 Bvers AM pf 2.50k_. 26 Calif Pack (133a)._. 4 Callahan Z-La 9% Calum & Hec 1.10g 22 Campbell Wy (1) 14y Canada Dry G Ale__ 9 Canadian Pacific .. 22 Carpenter Stl 1.60g. 5 Carriers&Gen.15g.. 126 Case (J 1) 110t Came (J I) pf (7) 71 Caterpillar Trac(2) 26% Celanese (2.25g) X Celotex (.80g) 4« Cent Aguir (1% 4 Central Fdy 96 Cent I11 L lpf(l'fi) 16 Central RRNJ __. 49 Cerrode Pasco (4). 7'3 Certaln-teed __ 30 Certain-teed 6% pt. 5'a Champ Pap & F (2). 9'a Ches Corp (3) 3815 Ches & Ohio (2.80a) 4 Chi& East [11 pf(r) 1% Chi Gt West (r) _. 5'2 Chi Gt West pf (r)_ 5 ChilInd & L pf (r) __ 18'2 Chi Mail Or (1%a). 1% Chi MStP&P (r)_. 2% Chi M St P&P pf(r). 2 Chi& N W (r)_ 15% Chi Pneu Tool 1'% Chi R 1 & Pac (r A% CR1&P 7% pf (r 10% Chi Yell Cab(1%g). 15% Chick Cotton O11 5% Childs Co 87 Chrysler (1g) 14 Citylce & F (2)_ 414 City Stores 31% Clark Equip 1.30g __ 30% Clev Graph B1%g. 1615 Cluett Peabody (1). 122 Coca-Cola (3) 13Y% Colgate-P-P (.50)_ 35 Collins & Alk (4g) _. 4+ 100 Collins & Aik pf(5). 1813 Colo Fuel & Ir (1g) 13 Colo & South 1st ot 23% Col Brdests A 1.05g. 8% Colum G&E (.20g)_. 18% Col Pict vte (1a) 95 Col Carbon (4a) 47% Comel Credit (4a. 47% Comcl Invest Tr(4) 10 Comel Solv (.60) 1% Comwith & Sou 41 Com & Sou pf (3)__. 7% Conde Nast - 27 Congoleum-Nrn(2)- 10 Conn Ry & Lt pt. 12% Consol Aircraft_ 813 Consol Cigar _ 81 Con Cig p pf ww "pfi 29% Consol Edi (1.50g) - 99% Consol Edis pf (5).. 2 Consol Film . 0 8 8 & 0000 @ 1000 1 s e O PP e ol AWM W 3 (O ST IO [ 4% Consol RR Cuba pf. 1 Consol Textlle (r)._. 64 Consol Coal 19% Container (1.20) 13% Contl Baking Ao 2 Contl Baking B. 50 Contl Can (3) 30% Contl Ins (1.60a) 1% Contl Motor 36 Contl Oil(Del)1%g. 17 Contl Steel (1) 53 Corn Exchange 54% Corn Prod (3).. 5% Coty . 33% Crane Co 100% Crane Co cv pf (l? 25 Cream of Wh (2g) 13 Crosley Radio 47% Crown Cork (2) 15 Crown Zeller (%g)- 43 Crucible - 1 CubaCo. 6 CubaRR’ ] - pehBecwtoncularnnannoolanmm o P4+ 00+ EAE R R LI+ & F FES FEFS OF EFPEESE 391 81y 1804 361 BT 155 29 4475 69% 2014 62% 584 15% 30 6% 14% 615 513 30% 29% 13% 41% 151% 348 8614 16% 47% 2% 26% 36% 481y 122 120 124 16 108 9% 4% 12% 40% 15 214 136 Dresser B (1e) Dunhill Intl — Du Pont deN(4%Eg). Eastern Roll Eastman Kodak (8) Eaton Mfg (1%g) Eitingon Sch . El Paso Nat G (2) Elec Auto L(2.20g). Elec Boat .. Elec & Mus (.18e) Elec Pow & Lt. Slec P & L pf Elk Horn C1pf (r)_ Eng Public Service. Fairbanks Co Fairbanks Mrse (1 Fajardo Fod L& Federal Motor.._ Federal Screw Federal Wat Sve A. ‘ed Dept Strs (2) Fid Phoenix(1.608) Firestone T & R(2) x First Nat Strs(2%) ntkote (1) Florence Stov 1.50g “ollansbee Bros ¥ood Mach (2.50a) Food Mach pf(413). 2008 Foster Wheajer “rancisco Sugar Freeport Sul (1g) Fuller 2d pf__.. Gabriel A ir (Robert)__ iar Wood Ind (%g) Gen Am Inv Gen Am Trns(11%g) Gen Baking (.60)_ Gen Cable Gen Elec (1.20g) Gen Foods (2) - nG&El A n Motors (2% g) - nOut Adv A n Prig Ink(.608) n Ry Siznal (1)_. Gen Real & Ut pf.. jen Refract (2h)_ Gen St] Cast pf Gien Theater Eq . n Tire & Rubber_ lette Saf R .T5g . simbel Bros dden Co (2a) lidden rts Oct 2 bel Adolf 2 Goebel Brew (.20a). Goodrich (BF) 18 _ i00dyr T&R pf (5). Gotham Silk H Graham-Paige Granby Consol Grand Unfon Gran City Stl (%g). Grant (WT) (1.408) Great Nor Ry pf Grt Nor Ore ct(3%g) Grt Wst Sug(2.40a) Gt West Sug pf(7T) Green (HL) (1.60a) Greyhound (.80) Greyhound pf (.55). Guantanamo Sug Hall Print Hamil Wath pf (6)_ Walk (1.50k) Body g Hecker Pr Hercules Powd (6) Here P rts Oct 14 Hershey Choc (3) Hersh cv pf (4a) _ Holland Furn 150g Holly Sug (2%&) Homestake Min 4% Houd-Her B (1%3) Houston Of] Howe Sound (3a. Hudson & Man Hudson Motor. Huop Motor 2 Hlinots Central.. 9 136 104% Indian Refining Indust Ravon (2 Ingersol Rand (3g)- Inland Steel (4a) Inspiration Copper. Insuranshar (.10g)- Interb Rap Tr new Interchem Corp(2)_ Intercont! Rubber Iron .40g - Int] Agri pr pf (3k)- Inti Harv (2.50a) Intl Hydro-Elec A Int Mer Marine Intl Mining (.45g) Intl Nickel (1.508) . Intl Pap & Pow new Intl Pap & P pf new Int Ry Cent Am pf_ Int Salt (115) . Intl Shoe (2) Intl Tel & Tel Interst Dep S 2%g-. Jewel Tea (4) Johns-Manv (3a) Jones&Lau pf 5.25k Kansas City Sou Kansas City Sou pf. Kennecott ("n Keyst'e S&w 2 Kimb-Clark (1!)". Kinney (G R) Kresge Dep Stores.. Kresge (S S) .90g - Kroger Groc (1.60). Lambert (2) Lee Rub& T 1.60% _ Lehigh Port C (1%) < Lehigh Valley Coal. 4 Lehigh Valley RR_ Lehman Corp (1a) . Lib-Ow-Glass (3g) Libby MeN&L 1.40h Liggett & M B (4a). Lima Loco (1g) Liquid Carb (1.60a Loew's Inc (6g) Solt. . . Lone Star Cem (3) Lorillard (P) (1.20) Louisv G&E A 1% . Louisv & Nash(5g). 5 Ludlum Steel (1) _. McCall Corp (1.50) - McCrory Strs McCrory St pf (6) McGraw-H .57%g__x MeIntyre Porc (2) McKeesport T (2) McKesson & Rob McKess & R pf (3)_ McLellan Strs .95g Mack Trucks (1) « Macy (R H) (2a). 141 4% 6% 17 105% Mad Sq Gar (1.15g). Manati Sug pf (r) Maracaibo Oil Marine Midl (.40a)_ Market St Ry 24 pf. Marlin Rock (2)_... Marshal Field Martin (Glen) -ceee Martin-Parry_ Math Alkali (1%) Maytag Mead Corp (1g) Melville Shoe (5) . Menge: Mengel 5% pr(2%). Mesta Mach (3.758) - Miami Copper Mid-Cont Pet (%g) Midland Steel (2) Midland Stl 1 p£(3). Minn-Hon Reg (3)_ Minn-Hon pf B(4) .. « U 08-S PV I - @ S s 4 Minn-Mol Imp 3% 22% Mohawk Crp(1.20a0/ 1 23% 07% 85 Minn-Mol Imp pf_.. Mo-Kan-Texas ___. Mo-Kan-Tex pf ... Mo Pacific pf (r) - 2 Monsanto Ch 1%z 1 44 92% SR NS I+t 41 i+ £E FEFFSE FP 617a 32 14% 7% I 41% 24 124 5 1314 5T Natl Mal'able 1.50g. Natl Pw & Lt (.60)_ Natl Steel (2.508) Natl Supply ..o Natl Tea (.30g) amae Natomas (.80) Neisner Bros (2). Newp't Indust (2g). N Y Central . 55 NYChi&StLptf 21 NYCityOm2.40g._. 104 N Y Dock pf . 135 119 NY & Harlem (5).. 9% 3 NYNH&H(r) .. 26 7k NYNH&Hpf (!'). 15% 6'a N'Y Shipblds.. 102% 633 N Y Steam $6 pf 272 205 Norfolk & “'Oll(lo) 17% North Am Aviat___. North Am (.90g) - North Am Co pf(3). North Am Ed pf(6). Northern Cent (4) .. Northern Pacific. Norwalk T & R Ohlo O1l (128) Oliver Farm. Omnibus . . Omnibus pf (8 Otis Elevator .80g.. Otis Elev pt (8) Otis Steel __ Otis Stl 1st pf 6l - Outboard M (2.50g) Owens-111 Gl 1%g . Pac Am Fish (1.20). Pac Coast_____ Pac Coast 1st Df - Pac Finance (1.80) . PacGas & El (2) ... Pac Lighting (3) _. Pacific Mills(1%38) Pac Tel & Tel (%) Pac West Ol (.65e) Packard Mot(.258) - Panhandle P&R (1) Panhan P&R pt (r). Paraffine (3g) - Paramount Plet _ Paramount 2 pf(.60 Park Utah _ Parke Davis 1.80g Parmeles Trans.__. Pathe Film Patino Mines Peerless (.30g) Penick & Ford 1% g. Penney (JC) (3g) Penn Coal & Coke Penn-Dixfe pf A Permn R R (1:8) .. Peoples Gas Lt & C. Pere Marquette _ Pere Marp pr pf Pet Milk (1) Petro Corp (.90g) Phelps Dodge 1% & Phila Rap Tr (r) . Phila Read C&1(r). Phillp Morris (3)__. Phillips Pet (2 Pierce Ofl pf Pills Flour (1.60 Rly 29 19 25% 0 @ S N R P TT OIS - FOP T Pitts Steel pf_. Piits United._. Pittston Co____ Plymonth Oil 1.05g- Poor & Co B Postal T & C pf (r)- Press Stl Car.25% 3 Procter & Gam (2a) Pub Sve N J (2.60) - « Pub S N J $5pf (5). Pub SN J 7% pf(7) '« Pullman (134) « Pura Oil Ture Oil pf (8) Furity Bak (.45g) Radio Corp Radio cv pf (3%) - Radio-Keith-0 (r)_ R R Sec 111 C Stk Raybest-Man(1%g) Reading Co (2)_ Reliable Strs (1)__. Rem Rand (1.05g) _. Rem R pf ww (414) Renssclaer & S (8) . Reo Motor Republic Steel Rep Stlcv pf(45k) Revere Copper & B Reynolds Met (1) Reynolds Spr (1) - Reynolds Tob B (). Ritter Dental .75g .. Ruberoid (.60) . - Safeway Strs (2) . Safeway 6% pf (6)_ St Joseph Lead(28) St L-San Fran (r) . St L-San Frn of (r) Schenley Distill(3). Schenley pf (5%) - Schulte Ret (r) Scott Paper (1.058). Seaboard Air L (r)- Seaboard O1l (1)aew Sears Roeb (3) ... Servel Corp (1a) ... Sharon Steel (1.20). Sharon Stl pf (5) .. Sharp & Dohme ... Sharp & Do pf 3% . Shattuck FG (.60) .. Shell Unfon (%K) -~ Silver King (.90g8) .. Simmons Co 1.758 - Skelly Oil (1g) .- Sloss-Sheffield S & 1 Smith (A O) Smith & Cor (1%8)- 16% Socony Vac .508) . E3 3 [ 3= e TS » S Voo ~aB3 a3z 23% 14 15t 991, 297, 1304 13 13 9, 65 63 5 21% 2 8 85 274 147 USL U u t U 1195 4% 154 591 U- 1w + Vadsco 1+ .-"S'ff-"f:: ti1EE+1 1 30w 11% 4% 834 5T% 30 11:00 A.M._. 1:00 P.M. 8 Actual sales bankry X Ex dividend. last year. year. clared thi 32 Starrett (L S)3g . 12 Stewart-Warn(%a) Stone & Web 814 Studebaker . 12% Sunshine Mng (3) .. 82 Superheater (1.75g)x 3 Superior Ol 1974 Superior Stee] 24%; Sutherl'd Pap 1.60a. 19's Swift & Co (1.20) 26% Swift Intl (2) . 9% Symington ww .60g. 7% Symington xw .60z 47% Talc pte pf (2.75a) R Tenn Corp (%g)--- 44% Texas Corp (2)_ 4% Texas Gulf Prod._ 32 Tex Gulf Sul (2a) 9% Tex Pac C&O (.40)_. & Tex Pac Land Tr__. 4'2 Thermoid.._ 1% Third Ave - 613 Thompson (JR) (%) 19'a Thomp Prod 1.40g . 3 Thompson-Star 15% Tide-Water As(la). 8714 Tide-W As pf (43%). Timk-Det Ax .50g _ 22 Timken Roll B(3a). 13% Transamerica Corp. 8's Trans & West Afr Transue & W (.30g) Tri-Cont Corp (% g) Truax-Traer (.80)_. 20th Cent-F 1.50g 20th C-F F pf 1% Twin City RT - Twin Coach (.30g) . Und'w'd-EI-F 3.25g. Un Bag & Pap new Unijon Carbide 3.20g Un Oil of Cal (.858) Un Pacific (6) Un Pacific pf (4) __ Un Tank Car (1.60). Unit Aircraft (%g) Unit Air Lin Y - Unit Biscuit (1.60)_ United C Unit-Carr Fast (2). Unit Corp Unit Corp pf (3)- Unit Drug (%g) Unit Dyewood (1a). Unit Elec Coal Unit Fruit (3)__ Unit Gas Imp (1 U S & Foreign Sec . U S Freight (1%e). U S Gypsum (2) U S Indus Alco.. U S Leather Leather A U S Pipe (3) S Realty & Imp S Ruobber i S Rubber 1st pf._ S Sm & Ref (8g)._ U S Steel = U S Steel of (7) __ Unit Stockyds (%)- Unit Stores A ___ Univ-Cyclops Sl[l) v Leaf Tob (3a) Ul P& Lt A (r)__. unit of trading 10 shares. rIn bankrupicy or receivershi on the last quarteriy or semi-annual declara. gegniess otherwise noted special or extra o i xr Ex rights. 1 Payable in stock. Cash or stock. ear. 1937 high..101.6 49.5 540 753 1927 low 763 27.3 354 537 1936 high_. 993 435 537 728 1936 low. 734 302 434 557 1932 low 175 87 239 169 1929 high._146.9 153.9 184.3 157.7 1927 low... 516 953 61.8 618 (Complled by the Associated Press.) BY VICTOR EUBANK, Asscciated Press Financiai Writer, NEW YORK, October 4—Led by steels and rails, stocks fell back frac- tions to 2 or more points in today's market. A contributory factor was a more than expected decline in the current week's steel mill operations to 66.1 per cent of capacity, off 83 points, The rate was the lowest since April, 1936 Failure of the rails to respond to the week-end settlement of the lengths wage dispute also was an influence in discouraging trading forces. The transportation division edged fore ward at the opening, along with a ? h V#Illl‘llfill*““ | - 3 + +1 - et + bon (4a). Vanadium Steel Van Raalte (234g) - Vick Chemical (2a) Va-Caro Chem _ Va El & Pwr pt(6) Va Iron Coal & C pt Wabash Ry (r) ___. Wabash pf A (r) Waldort Sys(.80g)_ Walgreen (2) Walker H G&W (2)- Walworth Ward Baking B __ Warner Bros Plct Warren Bros (r) __ Warren Fdy &P (2a) Waukesha Mot (1a) Wayne Pump (2a) Wesson O & S (%a) W Penn El A (7) West Penn El pf(6) W Pen E1 7% pf (7) West Auto Sup 1.60 Western Maryland_ Western Pac . West Un Tel 2.258 _ Westinghse Air (1) Westhse EI&M(3g) Westhse Elec pf 3g. Waestvaco Chl (1)__ Wheeling Stl_. White Motor White Sew Mac Wilcox Ofl & Ga Willys Overland Willys-Ov'd pt . Wilson & Co (14) » Woolworth (2.40) Worthington pf A Wright Aero___ Yale & Towne (.60). Yellow Truck Youns Spring (3) _ Ygstwn Sh&T 2.508 Zenith Radio(1%g) 3% Zonite Prod... Approximate Sales of Stocks on the N. Y. Stock Exchange, n + b 3% 150,000 320,000 12:00 Noon.. 2100 P.M. 240,000 - 450,000 dividends are not 8 Also extra or extras. e Pald & Declared or paid so far this | kAccumulated dividend pald or de- CHICAGO GRAIN By (he Associated Press. CHICAGO, October 4. — Wheat closed somewhat lower in late deal- ings today, owing to lack of aggres- sive North American export demand. The United States wheat visible sup- ply decreased 252,000 bushels, the first reduction since this year's crop started to move in volume. Chicago stocks of wheat decreased almost 400,000 bushels and Kansas City stocks 546,000 bushels. At the close wheat was -1, under Saturday’s finish, December, 1.07%- 7a; May, 1.0812-35; corn unchanged to October, 69%; December, 6315-35, and oats unchnnged to 14 off. WHEAT— Open. High. Dec. - 1 QR0 1 ey May - Lon Lopis 03 1037 0-1 ér Rundredwelsht red clover, B0%per Dundreaweleht. Liverpool Grain Prices. LIVERPOOL. October 4 (#.—Wheat futiires closed steaqy. Prrv. Oct: be § !’i m%‘;" ctober 2hber lgzfl 48 L3013 wum mt. D1t obthern .Xsus LARGER NET REPORTED |ORDERS OF BREWSTER BY DOMESTIC FINANCE Special Dispatch to The Star. CHICAGO, October 4.—Arthur Greene, president of the Domestic Fi- nance Corp., announced that net profit for the first half of the fiscal year, which ended September 30, will be substantially larger than similar period of 1936. Audited fig- ures will be available before Novem- ber 1. In a letter notifying stockholders that the regular quarterly dividend of 50 cents on the preferred stock had been declared payable November.1, Mr. Greene said that the volume of loans made in the first five months of the fiscal year amounted to $6,250,706, an increase of 61 per cent over the same period of+1936. Outstanding balances increased 36 per cent, from $5,006,903 to $6,817,591, in the same period. DIVIDENDS ANNOUNCED NEW YORK. October 4.—Dividends de- clared: Regular. - Stock Rate. rlod rwol'd Midwest Piping & Bu.p lhc 10-8 NMNYPO'B%BL .5Q1015 1ll t Pay- able. -13 NEW YORK SUGAR. NEW YORK. October 4 (P.—Sugar fu- tures were quiet here todsy and trading was confined to the No. 4 contract, which. after advancing 13 SoIBte garly in Sy With the steadiness of London. re- acted 'partially *under lauidation = and hedge selling. . May sold off from, 1.17% to 1.17 and September {rom 1.24% 3 leaving Fhe Tist ut the beginning of the Tast hour 12 to 1 point net higher. quoted. Exchange. 4.95. uotations. Pt S er 4 (F).—Wheat. garlicky, spot, domestic, . for the | AERONAUTICAL JUMP Special Dispateh to The Star. NEW YORK, October 4 —Coincident with the announcement of the election | directors of Brewster | of four new Aeronautical Corp., Long Island City, N. Y., James Work, president, in a letter sent to stockholders today re- ports that unfilled orders on hand September 30, 1937, amounted to $1,- 534,579.04, or approximately $1,000,- 000 in excess of the $575,639.45 of orders on hand as of September 30, 1936, and were the largest in the com- pany’s history. One of the most noteworthy orders received during September was from the Canadian Car & Foundry Co., | Ltd., for the manufacture of aircraft parts in the amount of $267,000, Mr. Work stated. | NEW YORK BANK STOCKS GAIN DURING WEEK Special Dispatch to The Star. NEW YORK, October 4. —New York City bank stocks registered a recovery during the last week, according to records compiled by Hoit, Rose &| ‘Troster. ‘The aggregate market value of 16 leading issues on October 1 amounted to $1,680,131,000 against $1,602,489,000 on September 24, an increase for the week of $77,642,000, or 4.85 per cent. ‘The current average yield of the 16 issues of 3.93 per cent compares with a yield of 4.12 per cent on September 24. The current market value is now 121 times the known book value against 1.16 times a week ago. Based upon current figures the 16 jssues are now quoted at an average | number of specialties, but followed steels, motors, farm implements and others in the late backslide. Mild sup- lpnn came in just before the close and 1 | extreme losses were reduced in soms | cases. | Chilling buying contingents also, " | brokers said, was the more definite | nint of a special session of Con | contained in the President's | Dakota speech today. Business nev generally, lacked stimulating quali- | ties. A break in cotton futures to below 8 cents a pound for the first time since 1933 added to the cloudy market sentiment. Bonds were uneven. Activity was the smallest in aboul |a month, transfers being in the neigh- borhood of 650,000 shares. Conspicous on the offside were U S. Steel, Chrysler, Bethlehem, Wheel- ing Steel, National Steel, Republic Youngstown Sheet & Tube, Santa Fe New York Central, Southern Pacific Great Northern, Northérn Pacifin Southern Railway, American Stee Foundries, General Motors, U S Rubber, Goodrich, Montgomery Ward Sears Roebuck. J. I. Case, Deere, In. ternational Harvester, Caterpillar Tractor, Oliver Farm, Boeing, Westerr Union, Anaconda, Kennecott, Ameri- can Smelting, Phelps Dodge, Westing- house, Du Pont, Lehman Corp. Crown Cork, Armstrong Cork, Radic | Corp., Chesapeake Corp., Johns-Man. ville, Allis-Chalmers and Natio: Supply. Resistant were Baltimore & Ohio Continental Can, American Bank Note, Crane Co., Addressograph, Yel ‘:‘ low Truck, Inspiration Copper, Miam Copper, Woolworth, Corn Product: and United Fruit. NEW YORK COTTON | By the Associated Press | NEW YORK, October 4.—Con- tinued hedging and liquidation de- pressed cotton prices below 8 cents for the first time since May, 1933, to- day. The decline met resistance at 7.9¢ for January and March on increasec trade fixing and covering promotec by a belief that heavy week end rair in the South would retard the crop movement. However, rallies were lim- ited. December, which sold off from 8:1¢ to 8 cents, was quoted at 815 by mid- afternoon. when the list was 3 to 10 points net lower. Putures closed steady. 1 higher to 10 January | March May July Spot_steady. n—Nominal L & ] 5.4 mid Cottonseed Oil. Bleachable cottonseed oil closed steady, 2 to 6 lower 142 contracts. October, cember, 731B; January, March, 7.38; May, 7.46. futures Sal 1.34B; De. 7.34B; B—Bid. New Orleans Prices EW ORLEANS, October 4 (.—Lower Liverpool cables and hedge selling in- duced declines of 5 to 10 points in cotton here today and carried off positions to new lows for the season. | Trading was only moderate. but sus- | taining support was lacking. Official re ports that the tropical disturbance hi | moved "inland failed to bring out an buying orders and the market was de- pressed further by inactive textiles October contracts opened at @21 bid December at 8.1, January at £.10. March at K12 May at'8:15 and July at 820 Recent sellers took profits after the start and toward the end of the first half hour Active positions had rallied 1 to 6 point from the opening lows Cottonseed ofl opened steady: October, 6.81b: December. 6 pJSNUATY, 6,870 3 7,000, Liverpool Quotation: IVERPOOL. October 4 | 4.300 bales. all American. Mo ness done in spots; prices 10 points lower Quotations, in pence” American. strict g0od middling. 3.64: good middling '5.34: g middling. o, middling 470 middling. .54 low dlins. e viiinaty, 3 54: Eood ordinary, S«. S rorOiaed qtiler, and steady. et 4.50. December. January, March, $.34; May, 4.38: July, 4.82, NEW YORK BANK STOCKS NEW YORK. October 4 (P .—New York Security Dealers” Association Quotations as of 2 o'clock.) Bank of Manhattan (1) Tr Commercial Cont Bk & Tr lmn Corn Ex Bk & T ( Empirs Tr (1) First Nat (Bos) (2) First Natl_(100) Guaranty Tr (12) Irving Tr (.60) , Manufacturers Tr (2) Manufacturers Tr pf (2) | st city 1) Title G & MONEY MARKET. NEW YORK, October 4 (.— Call money steady: 1 per cent all day. Prime commerclal paper, 1 per cent; time loans steady; 60-90 days. 1) £ ‘months. 1'a ‘rediscount k. 1 per cent. OFFERING POSTPONED. NEW YORK, October 4 (#).—An offering of $6,650,000 bonds, scheduled for October 22 by the Philadelphia 55, ath 35 York Reserve 163 times tuciy kaown earnings pared with 15.5 times on Septem. ber 24. School District, has been postponed nd no new offering date set for ti , it was announced.