Evening Star Newspaper, October 6, 1937, Page 18

FINANCIAL. BANKERS PREPARE FOR CONVENTION Thirty Capital Leaders Plan to Leave for A. B. A. Ses- sion at Boston. BY EDWARD C. STONE. “On to Boston!” is the slogan of 30 leading Washington bankers who will leave the Capital the last of the week to attend the annual convention of the American Bankers' Association. Additions in the past few days to the reservation list made the del- egation one of the largest the Dis- trict has ever sent to an A, B. A, meeting. The majority of the financiers will go to the New England metrop- olis by train, It was stated today, however, that others will go by motor and by boat, the steamer trip having been planned by the Virginia Bankers' Asso- ciation, there already being more than 75 reservations for the water trip on the steamship Berkshire of the Mer- chants & Miners' Transportation Co. The boat leaves Baltimore Friday and Norfolk Saturday afternoon, the Vir- ginia association having invited a host of nearby bankers to accompany them on the cruise. The Boston sessions open Monday and close Thursday of next week. At the same time the national convention of Bank Auditors and Controllers will also be in progress in Boston. A generous number of members of the auditors’ section of the District Bankers' Association will attend these meetings, one of the speakers being Raymond G. Marx, controller of the Riges National Bank, whose subject is “Budgetary Control.” Arthur J. Linn, controller of the Hamilton Na- tional Bank, is slated to be national president of the organization next year. Members of D. C. Delegation. According to the latest announce- ment, the Washington delegation will be made up of the following delegates, including E. E. Mountjoy, who has Tepresented the A. B. A. in Washington for many years and is secretary of the National Bank Division: Thomas J. Groom, president, Dis- trict of Columbia Bankers' Associa- tion and executive vice president, Bank of Commerce & Savings; Rob- ert V. Fleming, president, Riggs Na- tional Bani. and immediate past presi- dent American Bankers' Association; George O. Vass, vice president and cashier, Riggs National and member A. B. A. Executive Council; Sidney ¥. Taliaferro, vice president and trust officer, Riggs National, and member of the Committee on Federal Legisla- tion of the trust division, A. B. A; Miss Catherine M. Krieg, secretary to Mr. Fleming of the Riggs National Bank; R. G. Marx, controller, Riggs National; Frederick P. H. Siddons, secretary, American Security & Trust Co.; T. Stanley Holland, trust officer, American Security & Trust Co.; James D. Barrett, auditor, American Secur- ity & Trust Co. F. G. Addison, jr., president, Se- curity Savings & Commercial Bank; Wilmer J. Waller, vice president and cashier, Hamilton National Bank and member of the A. B. A. Banking Studies Committee; H. Prescott Gat- ley, president, National Savings & Trust Co.; Audley A. P. Savage, audi- tor, National Savings & Trust Co.; John A. Reilly, president, Second Na- tional Bank; E. F. Colladay, counsel and trust officer, Second National; Gerald E. Keene, assistant cashier, Second National; Donald W. Larson, secretary, District of Columbia Bank- ers' Association; George M. Fisher, vice president and treasurer, Washing- ton Loan & Trust Co.; James M. Ma- son, assistant treasurer, Washington Loan & Trust Co.; Harry L. Downey, auditor, Washington Loan & Trust Co., and chairman auditors’ section, District of Columbia Bankers' Asso- ciation, E. E. Mountjoy, secretary, National Bank Division, A. B. A, and Washing- ton representative of the A. B. A.; C. F. Burton, president, City Bank; Joshua Evans, jr., vice president, Ham- ilton National; M. F. Calnan, presi- dent, Liberty National; Lanier P. Mc- Lachlen, president, McLachle Bank- ing Corp.; James A. Messer, vice presi- dent, Columbia National; S. William Miller, treasurer, Union Trust Co.; H. Norman Glasco, Union Trust Co., and secretary, auditors’ section, District of Columbia Bankers’ Association; Ar- thur J. Linn, controller, Hamilton National; Lewis E. Thomas, auditor, Liberty National; William M. Harris, auditor, Lincoln National, and James C. Elgin, partner in W. B. Hibbs & Co. “Recession,” Not “Depression.” ‘The recent erratic action of the New York stock market has turned interest more than ever to the business outlook. On the business situation, McLeod & Frey, Inc., make this fore- cast: “The decline in business activity has about run its course for this year. In May the Federal Reserve Board in- dex of industrial production averaged 118, the recovery high. In September it is estimated at 112. In October the index will probably be one or two points lower. In the latte- part of October moderate Fall recovery will set in, carrying through the early months of 1938. Industrial production will average less in the first half of 1938 than in 1937. We are not at the beginning of a major business depres- sion. We are passing through a busi- ness recession.” Exchange Offices Crowded. New York Stock Exchange offices in this city were crowded today long before the opening of the market. ‘The market was expecte to open lower after yesterday’s break and it did. Before the translux started it was announced that United States Steel had opened lower in London, an important factor in causing the lower price here. The Chesapeake & Potomac Tele- phone Co. of Baltimore reports a net gain of 1,684 stations during Sep- tember, compared with a gain of 2,546 in September, 1936, and a gain of 1,609 in September, 1335. For the first nine months of 1937 the Balti- more company had a net gain of 14,359 stations, compared with 13,150 in 1936 and 5355 in '935. The largest sale on the Washington Stock Exchange today was 35 shares of the new Washington Gas Light preferred stock, at 997, unchanged. Potomac Electric Power 52 per cent preferred figured in two sales at 111%. Capital Transit closed with 10 bid and 11, asked. The bid for Mor- genthaler Linotype stood at 30 with 33 asked. No sales. B. E. Mountjoy. Prev 1937 258% 171 80% 160 121 71 104% 33% 112 238 303, 3384 994 134 138, 5874 6874 381y 21 11% 558 523 4% 17% 5874 125 29% 13% 68% 165 2% 153 4103 5313 47 53 102% 8 38y 528 50 24% 25% 1171- 14% 98 13 6514 184 35% 11% 39 lll 107 ChampP & F pf (6) 408 107% 1073 107% 3 113 102% Clev El [1lu pf(4%) 20 48% 29% 170% Stock and 11% Adams Exp (.30g; 23 Addressog (1.40)... 1% Advance Rumley... 60 Air Reduction (1a). 1% Air-Way El Ap. ... 9% Alaska Jun (.60a).. 1% Alieghany Allen Indus (1) ... 180 Allied Chem (8).... 14 Allied Kid (1a) ... 164 Allled Mills (2g) 11 Alliad Sto 48'% Allis Chalm (2g) 16% Alpha Portland (1). 313 Amal Leath. _____. 32 Amal Leath pf (3).. 67l Amerada (2) ___ 72 Am Ag C(Del)G‘&‘. 173 Am Bank Note % g_ 42 Am Brake Sh (2g)_. 125 Am Brake S pf 5%. 90% Am Can (4a) . _ 26 AmCar & Fy (%g). 50 AmCar & F pf (4g). 21': Am Ch&Cable 1g_.. 921 Am Chicle (4a) 9 Am Colortype. 15% Am Comel Alco . 19 Am Crys Sug 3.25g 88 A Crys Sug pf(6). 4% Am Encaustic Til.. 4% Am & Forelgn Pow. 22 Am&FP$6pf _ 29% Am & For Pw $7 pf_ 11%3 Am & For Pw 2d pf. 12% Am-Hawailan S (1) 4'; Am Hide & Leath _. 30% Am Hide & L pf (3). 87 Am Home Pr (2.40). 2 Amlce.____ - 9% Am International. 23% Am Locomotive 81 Am Loco pf__ 14% Am M & Fay (%g)- 53 Am M & Met (.60)_. 35% Am Metal (%g) 6% Am Pow & Lt _ 39 AmP&L$5pt - 45% AmMP & L $6 pf (6)_ 13% Am Rad & St S(.60) Am Rad & St pf (7). Am Rolling Mill (2) 86 Am Roll Mcvpf 4% 2212 Am Safety Raz (2). 17% Am Seating (%g) 35 Am Shipbldg (2a) 61 Am Sm & Ref (4g)_. 138 Am Smelt pf (7) 32 Am Stl Foun 1.50g.. Am Stores (1.508) . Am Sugar Ref (2).. Am Sumatra (1a) 56% Am Tel & Tel (9)_ 70'% Am Tobacco (5) 70% Am Tobacco B (5) 8« Am Type Fdrs __ 12% Am Wat Wks (.60g) 85 Am Wat W 1pf(6)- 6% Am Woolen 44% Am Woolen pf(!k)_ 6% Am Zinc L& S 424 Am Z&Ld pr pf 1“. 34% Anaconda (1.2 50 Anacond W (2. Anchor Cap (.458) . Arch-Dan-M 1.50g. 2 Armour Del pf (7). 7 Armour I1l (.55g) Arm I11 pr pf (6) - Armst’g Ck (1.50g). Arnold Const (%g). Artloom Asso Dry Good Assoc Invest ( Atch T &S F (2g). Atchison pf (5) __ Atlantic Coast Line Atl Gulf & W Ind . Atlantic Refin (1) Atl Refining pf (4)_ Atlas Corp (.80) _ Atlas Corp pf (3) Atlas Powder Atlas Tack (.508) - Auburn Auto Austin Nichols 2’1‘& Aust Nich pf A(5k) Aviation Corp 10% Baldw Lo ctfs w. 15% Balto & Ohlo 20% Balto & Ohfo pf_.._ 175 Barber Co (%g) 15 Barker Bros 29Y Barker pf (2%) Barnsdall (1) Bayuk Cigar .5 Beatrice Cr (1a) 9 Beldin-Hem (1) 14'% Bendix Aviat.75g _ 17% Beneficial Loan(2g) 615 Bethlehm Stl 2.50g- 16'x Beth St15% pf (1) Beth St17% pf (7). 40 Blgelow-San (3g)_. 18 Black & Deck (1a)_. 1213 BlawsKnox (.70g)-. 21% Boeing Airpl i 32 Bohn Alum (2.75g). 82 Bon Ami (A) (4) __ 40 Bon Ami(B)(2.50) _. 18 Bond Stores (1.60)_ 2075 Borden (1.60) _ 36'% Borg-Warner (2)_. 5% Boston & Maine 113 Bridgpt Brass .65z _. 29%; Briges Mfg (2.50g) . 36 Briggs & Str(2%g). 35 Bristol-My (2.40a)_ 4% Bklyn-Man (2%g).. 324 Bklyn-Man pf (6)_. 2 Bklyn & Queen: 7% Bklyn& QT pf. 2213 Bklyn Un Gas 2. 39% Brown Shoe (3) 11 Brunsw-Balk .50g. 11% Bucyrus-Erie .25g_. 101. Bucyrus-B pf (7). 5% Budd Mfg_ 54 Budd Mfg pf 5% Budd Wheel (.20g) - 3512 Bulova Watch (4a). 10 Burlington Mills(1) 22% Burr Ad Mch(.65g). 3% Bush Term (r)____. 11 BushT 7% deb (r). 3 14!; Bush T Bld pf ct(r) 140s 10% Butler Bros (.60) .. 241 Butler Bros Df(l%) 46 Byers AM pf 2.50k 19% Byron Jack-((1g)_. 26 Calif Pack (1%a)_. 2% Callahan Z-Ld. 9% Calum & Hee 1.10g— 211 Campbell Wy (1) ... 14% Canada Dry G Ale__ 9~ Canadian Pacific __ 22 Carpenter Stl 1.60g. Caterpillar Trac( 102% Caterpillar T pf (5) 26% Celanese (2.258) - 28 Celotex (.80g) - 29Y% Cent Asuir (l%l)-. 4 Central Fdy ger 96 Cent Il Lt pf (4%). 16 Central RRNJ __. 74 Central Violeta Sug 49 Cerro de Pasco(4a)_ /7% Certain-teed .__ 30 Certain-teed 6% pt- 35% Champ Pap & F (2). 48% Ches Corp (3) 3814 Ches & Ohlo (2. 1% Chi Gt West (r)_ 5'% Chi Gt West pf (1) 17% Chi Mail Or (1%a). 1% Chi MStP& P (1)._. 2% Chi M St P&P pf(r). 2% Chi&ENW () ._... 6% Chi & N W pf (r) 15% Chi Pneu Tool - 85 Chi Pneu T cv pf(3) 1% Chi R 1 & Pac (r)... 8% CRI&P 7% pf (r). 10 Chi Yell Cab(1%g). 15% Chick Cotton Oil. 5% Childs Co 84% Chrysler (7, 14 Citylce & F (2)_-. 4% City Stores .. .____ 31% Clark Equip 1.30g__ 30% Clev Graph B 1%g. 16% Cluett Peabody (1 120 Coca-Cola (3) 26% 13% Colgate-P-P (.50)_. 36 Collins & Alk (4g)_. 184% Colo Fuel & Ir (1g) 13 Colo & South 1st pf 23% Col Brdcsts A 1.05g. 23% Col Brdcsts B 1.05g. 8% Colum G&E (.20g) - 80 ColG&ElpfA (6)- 18% Col Pict vto (1a) ... 92 Col Carbon (4a 47% Comcl Credit (4a! 90 Comcl Cred pf 4% . 47Y% Comcl Invest Tr(4) 10 Comcl Solv (.60) ... 1% Comwlth & Sou._.. 41 Com & Sou pt (3)... 7% Conde Nast.. \ " “8al Add oo nén: Low. Close. chge. Net 64%" 65 12 10% 12 + % 26%, 25% — % 1% 1% — %W 574 62 +1% ™ 1% 1% 124 + % W 2 + % 180 188 +8 137 17% 17 11% 62 21 188 3 14 8% + % 73 - % 16% -1 5 45% + % 127h 127% 1274% - % 1 25% 51 21 92 8y 16 3 19% 708 4 88 8 b4 21 4% 2 24 30 11 12% 45 4y 31 311y 38 39 2 2l 9 9% 23% 26 804 814 15% 16 5% 6% 341 354 69 7 39 401 444 4T ki 134 14 10s 152 152 69 2 27% 294 16 86'2 B8y 2 23% 23% 23% 1 18% 18% 30s 35 35 81 61% 641 HO‘-; 140'; 14015 42 3 32 33% + 134 13% 13% 3113 3l 31t —11 20 20 201 + % la9ly 157% 159% +1 0 72 T4 - Y4 75 % + 4 8% 8l 12w 13 85 85 6%a 6% 46 FEE e Lo anEoxarRNanemmmn P A Ty ey | " e 38 0"‘ 3 101 12 102% 8 8% 75 75 40% 427 9 9 5% 11t 437 53% 843, 321 874 227% 103*7 103 103% 11% 12 AG’ 46% 46y 60 3 40! 15% 15% 17% 1% 11% 184 19 4 9% 10 20 ‘s 14 144% .4 19% 19% 129 591 64 3 2 17T 1T% 11041 1045 1041 3 36l 36 3613 220 19 20 13 154 14% 14% 28 2417 221 245 7 35% 33% 50s 82 82 40s 40% 40 184 21 1 1 8 234% 23% —1% 4% - Y 129'% +6% 7 73 +2 1 104! 104% 104% — 15 36 28% 26% 28% + % 6 30 30 — 4% 5 T 2 28 -2 22 4% 4% 4% + % 208 100% 100 100 ~—1 3 15% 15% 16% — % 2 8 T TH - % 31 b53% b5 +3% 3 TH T TH— W 20s 33% 33% 33% + % 3 42% 41% 424 — % 52 4T 52 +3% 41% 39% 41% +2 1% 1% — % 6% 6% + % 17 17 - % 1% 2% 2% — 7 15% ~ 36 - 1% — 3% + 10% + 16% — 6% — 83% 87, +1% 15% 15% 4% l‘a = % 2% 324 107% 107% 107‘/. + 33% 33 33y — it 17 18% +1% 119% 127 +6 % 16% FEEEEFEF F 10% + % 130 2 % 1% - W 8 % 42% — W 1 % - % d I Prev 1937 High, Low. 4Big 1713 153 10% 56%3 STAR, WASHINGTON, TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE By Private Wire Direct to The Star. 2:30 pm. Dividend Rate. 27 Congoleum-Nrn(2). 12% Consol Afrcraft.... 814 Consol Clgar._. 79 Con Cig p pf ww C“ 28 Consol Edi (1.60g)- 2 Consol Film 8 Consol Film 6 Cons Laundri 11% Conscl O11 (.| 4% Consol RR Cul - % Consol Textile (r)A. 64 Consol Coal - 29 Consol Coal pf. 19% Container (1.20).... 13% Contl Baking Ao... 2 Contl Baking B..... 50 Contl Can (3) .. 10% Contl Diamond 1“] 30% Contl Ins (1.60a).. 1% Contl Motor 33% Contl Oll(Del)1 % 17 Contl Steel (1) .___. 53 Corn Exchange (3). 547 Corn Prod (3) Corn Prod pf (7) ... 514 Coty .. 27% Crand Co -— 115 100% Crane Co cv pf (5)_. 37 28% 1007 25% 81% 159% 103 31y 8% 25 Cream of Wh (2g) 12% Crosley Radio _. 40Y% Crown Cork (2).. 14% Crown Zeller (%g). 40 Crucible Steel _. Crucible St pf 5% k_ Cuba Co _ = Cuba R R pf. Cuban-Am Sugar.. 19t5 Cudahy Packing: 6% Curtis Pub 55 Curtis Pub pf (7)_ 3% Curtiss-Wright. 1244 Curtiss-Wright A. 30 Cushmanpf.___ 641 Cutler-Ham (2g) - 10 Davega Stores (1a). 97% Deere & Co (28) ... 23% Deere & Co pf(1.40) 14% Deisel-Wem-G (1a) 2215 Del & Hud . 10 Del Lack & W 224 Diamond Mat (1a) 33 Diam Mat pf(13%a). 10 Diamond T Mot (1). 15% Dist Corp-Seag 70 Dist-Seag pf ww (5) 30 Dixie-Vor A (2%) .. 275% Doehler Die(1.50%) 36% Dome Mines(4.508). 6! Dominion Strs 328 Douglas Alrcraft_ Dow Chem (3.35g) _. % Dul S S & Atl pf(r)- 213 Dunhill Intl 2 180% 133% Du Pont deN(4%g). 135% 130% Du Pont deb (6) . 17 198 3T 15 122‘u 11 ’( 15% 20% 108 106 5815 17% 8 1178 157 39% 185 121 151 Tia Eastern Roll _ Eastman Kodak (8) 2314 Eaton Mfg (1%g) - 64 Eitingon Sch .. 20% El Paso Nat G (2) . 2815 Elec Auto L(2.20g). 7' Elec Boat __ - Elec & Mus (.18e)_. Elec Pow & Lt Elec P& L $6 pf__. EleccP&Lpf ____ Elec Stor Bat (2)__. Elk Horn C'l pf (r). Endicott-John (3) . Eng Public Ser Equit Oft Bldg Erie R R Erie 1st pf_ Eureka Vac 5 Evans Prod (1) ... Exchange Buffet Fairbanks Co E Fairbanks pt = Fairbanks Mrse(1a) Fajardo Sugar(3g)- % Federal Lt & Trac. Wederal Motor-. Federal Screw_ Federal Wat Sve A. Fed Dept Strs (2) Fid Phoenix(1.60a). Firestone T & R(2) Firestone T pf (6) . First Nat Strs(2%). Flintkote (1) ._____ Florence Stov 1.50g. Follansbee Bros __. Food Mach (2.50a) _ Food Mach pf (435) Foster Wheeler Foster-Wheeler pf_. ‘4 Francisco Sugar % Freeport Sul (1g)-. Fuller 2d pf . Gair (Robert) _. Gamewell __ Gar Wood Ind (48) Gen Am Inv Gen Am Trns(1%g) Gen Baking (.60) _. Gen Baking pf (8)._. Gen Bronze Gen Cable Gen Clgar (2.5 Gen Elec (1.20g) Gen Foods (2) .. Gen G & EL A Gen Mills (3) __ Gen Mills pf (6)_ 4 Gen Motors (2%48)- Gen Mot pf (5) Gen Out Adv_ Gen Out Adv A Gen Prtg Ink(.6 Gen PubSve.__ Gen Ry Signal ( Gen Real & Util Gen Real & Ut pf. Gen Refract (2h)__. en Stl Cast pf____. Gen Theater Eq.75g Gen Time In (1a)__. Gen Tire & Rubber_ Gillette Saf R .75g . Gillette pf (5)._. Gimbel Bros_ Gimbel Bros pf (6)- 29% Glidden Co (2a) 4 Glidden rts Oct 25__ 213 Gobel Adolf ____ 3% Goebel Brew (. 20a). 3 Goodrich (BF) 18- Goodrich pf (5) - Goodyear T&R 1.50 Goodyr T&R pf (5)- Gotham Sflk H_._. Graham-Paige._. 5% Granby COnsol.me.. 2 Grand Union 14 Grand Union pf 2k_. 30% Grant (WT) (1.408) 35% Great Nor Ry pf 14% Grt Nor Ore ct(% 23 Green (HL) (1.60a) 10% Greyhound (.80) _ 1% Guantanamo Sug. 26% Guantanamo pf.__. 25% Gulf Mob & Nor pf_. 8 Hall Print 103 Hamil Wath pf (S)_ 98 Hanna $5 pf (5) - 28 Harb-Walk (1.5 8! Hat Corp (.808) 2% Hayes Body 99% Hazel-Atlas GI( l). 9% Hecker Prod (.60a). 20 Hercules Mot (1) ... Hetcules Powd (6) - 135% 125 Hercules Po pf (6)- 4% Herc Prts Oct 14__. 50 Hershey Choc (3).. 93% Hersh cv pf (42) - 24 Holland Furn 1.50g. 98 - Holland F pf (5;.. 16% Hollander (1)-._.. % 23 Eolly Sug (le)-_ % 110 Holly Sugar pf (7). 43% Homestake Min 434 29% Houd-Her A (234) .. 16 Houd-Her B (1%).. 85 Househld Fin pf(5). 8% Houston Ofl . . 58 Howe Sound (3 2% Hudson & Man - 6% Hudson & Man pf... 9% Hudson MOtOr-.cee 2% HUDD MOtOr - e e 14% Illinots Central. ... 9 Indian Refining.... 26 Indust Rayon (2).. AT 144 102 Ingersol Rand(3g)- 181% 331 6 82 Inland Steel (4a. 13% Inspiration Copper. 4% Insuranshar (.10g). 4 Interb Rap Trnew. 82 Interchem Corp(2). 3% Intercontl Rubber._. 12% Interlake Iron .40g- 3% Intl Agricul - %2 32 Intl Asri prpf (3k). Intl Bus Mach (6a). 6% Intl Hydro-Elec A-. 5 Int Mer Marine. __.. 8% Intl Mining (.45g)..+ 48% Intl Nickel (1.508) -. 13% Intl Paper & Power.. 67% Intl Paper&Pwr pf... AV. Intl Ry Cent Am... Int Ry Cent Am pf.. 40 Intl Shoe (2) - 80 Intl Silver.pf (8k).. 7 IntdTel& Tel...... A 2:30 p.m. Stock and Bales— Add 00, High, lfl' Close. chu 17 28% 28 5 14'% 28 2814 43% 33t 1% 10% + 3 15% + 9% - N D. C, WEDNESDAY, OCTOPBER 6, 1937. Prev 1037 High, Low. Dividend Rate. 864 15 Interst Dep 8 2% §. 26% 11% In 30 156 126 136 29 110 3% 5% 10% 43% 261 1121 24% 10% 35 38 18's 44 1.";0 272 44% 152 130 149 29% 12% 1T 121 90 28% 200% 26% ype (.30g) . 24% Island Crk Coal (2). 90% Johns-Manv (3a)._. 120 Johns-Manv pf (1) 104 Jones&Lau pf 5.25k 9 KansasCity Sou ._ 17% Kansas City Sou pf. 22 Kaufmann Dep 1.60 1 Kelsey-Hayes A . Kel-Hayes Wh B. Kennecott (28) . Keystone S&W (1)_ Kimb-Clark (1a) Kinney (G R) Kinney pr pf. % Kresge (8 8) .90g_. Kress (S H) (1.60). # Krozer Groc (1.60). Laclede Gas. - % Laclede Gas pf_... Lambert (2) Lane Bryant( Lee Rub& T 1.60g Lehigh Port C (1%) % Lehigh Valley Coal. 6 Lehigh Val Coal pf. Lehigh Valley R R % Lehman Corp (1a).. Lehn & Fink (1%).. Lerner Stores (2a) . Lib-Ow-Glass (3g). Libby MeN&L 1.40h Life Savers (1.60a). Liggett & M B (42). Lima Loco (1g) . Liquid Carb (1.60a) 6414 Loew's Inc (Rg).___. 104% Loew's pf (6%)-. Loft .. ... - Lone Star Cem (3) .. Long-Bell A - Loose-Wil Bis (2) . Lorillard (P) (1.20) Louisv & Nash(5g). %5 Ludlum Steel (1)" .. MecCall Corp (1.50) McCrory Strs McGraw Elec (1) McGraw-H .57 % & o Mcintyre Pore (2).. McKeesport T (2) .. McKesson & Rob... McKess & R pf (3). McLellan Strs.95g_ Mack Trucks (1)... Macy (R H) (2a)_.. Magma Cop (1%8) . Man Ry mod gtd(r) Mashat Shirt (1)... 4« Maracaibo O1l Marine Midl (.40s Market St Ry 2d pf. Market St Ry pr pf. Marshal Field...... Martin (Gien) ... Martin-Parr; Masonite (1 - Math Alkall (1%) .. May Dept Strs (3a). Maytag - Maytag pf ww (3)_. 4 Mead Corp (18) __. Mead pf B ww 5.50 _. Melville Shoe (5) .. Menger . ___ Mengel 5% Dr(Z%) Merch&Min (1.60) _. 4 Mesta Mach (3.758) Miami Copper _.__. Mid-Cont Pet (%g) Midland Steel (2) _ Midland Stl 1 pf(8). Minn-Hon Reg (3). Minn-Mol Imp . ... Minn-Mol Imp Df M StP&SS Marie .. M StP&SS Mar pf__. Mission Corp (1g) .. Mo-Kan-Texas _ Mo-Kan-Tex pt Mo Pacific (r) Mo Pacific pf Mohawk Crp(1.2 Monsanto Ch 13%4g .. *ontgom Ward(2a) o rris & Esx (3%). ! Mother Lode . ___. Motor Prod (2.50g) . Motor Wheel (1.60). Mueller Brass (1a). Mullins Mfg (B).. Mullins pf (7) . Munsingwear 1.50a. Murphy (G C) 3.60_ Murray Corp. - Nash-Kelv (1) Nash Chat & StL.. Natl Acme (%g) - Natl Biscuit (1.60) . Nat Bond & Sh(1g) - Natl Cash Reg(1g) - Natl Dairy P (1.20). 107% Natl Dairy pf A(7). 9% Natl Dept Strs. 514 Natl Dept Stra pf__. 25% Natl Distill (2) 25 Natl En & Stpg (2). 6% Natl Gypsum _ 29% Natl Lead (%) __. Natl Lead pf B (6) - Natl Mal'able 1.50g. Natl Pw & Lt (.60 atl Ry Mex 2 atl Steel (2.508) Natl Supply ... Natl Tea (.30g). Natomas (.80) . 29 Neisner Bros (2)_.. wberry JJ (2.40). Newp't Indust (2g). N Y Alr Br (1%8) 2[\: N Y Central .. 27 N Y Chi & St Louis. 54 NYChi&StLpf 20% N Y City Om 2.40g. 4 Y Dock.- 103 N Y Dock pf 5 N Y Investors (r) 3 NYNH&H(r). T% NYNH&H pf (r). 1l N Y Ont & West (r) 1% Norfolk Sou (r)__ . 205 Norfolk & West(10) 7 North Am Aviat. 19% North Am (.90g) . 17% Northern Pacific 84 Northwest Tel ( 214 Norwalk T & R 26% Norw Tire pf 3% k.. 14 Ohio Oll (%8) 40 Oliver Farm 10 Omnibus__ = 90'% Omnibus pf (8) 10 Oppenhetm Col %g- 27 Otis Elevator .80g 11% Otis Steel 17% Outboard M (2. 50% Outlet (3a) .__ 791 Owens-111 G1 1% g - 139‘ Pac Am Fish (1.20). Pac Gas & El (2) .‘45 Pac Lighting (3). 17 Pacific Mills(1%g)- Pac Tel & Tel (8) 133 Pac Tel&Tel pf (6). 16 Pac West Ofl (.65¢) 6% Packard Mot(.25g)- 8% Pan-Am Petrolm _. 50% Panhan P&R pf (r). 45 Paraffine (3g) .. 16% Paramount Plet 113% Paramount 1 pf 14% Plrlmount 2 pf (.6 3 Park U 32 Pl’i'k- Dlvlsl g-- 22% Parker Rust-Pr l% 2 Parmeles Tran: 6% Pathe Film 11 Patino Mines -_. 3% Peerless (.30g) - 381 Penick & Ford 1%g- 79% Penney (JC) (3g)-- 24 Penn Coal & Coke . _ 4% Penn-Dixie Cement. 26% Penn RR (3%g) ... 35 PeoplesGas Lt &C. 16 Pere Marquett 55 PereMarqpf ... 16 Pet Milk (1) 28% Phelps Dodge 14 &- 37% Phila Co 6% pf (3). 4% Phila Rap Tr pf (1) % Phila Read C&I(r). 70 " Philip Morris (3) ... 8% Phillips Jones ... 45 -Phillips Pet (28)... 4 Phoenix Hosiery... 9 Pierce Oil pf 25 Pills Flour (1 9 PittsCoal . 9% Pitts Screw (. 45‘ 17 Pitts Steel. __, 2% Pilts United 17% Pitts & W Va. 18 Plymonth Oil 1. 0"_ 11% Poor&CoB . 3% Porto Ric-Am T A 4% Postal T & C pf (r). 10% Press St Car .25g_-. 3414 Press St1C2 pf 2%4. 49% Procter & Gam (2a) 52% 35% Pub SvoNJ (2.60). 99% Pub 8N J $6 ot (5). " 2:30 p.m. 8tock and Bal ales— Add 00. High. Low. Close. f.lul. 19 16% 154 16% + % 1 13 24% 93l 122% 101% 10% 13 24% 90% 122 101% 9% 17 20 12 9 18 - % 24% 93% 43 122 -1 101% -3% - % Prev 1037 High. Low. 128% 112% Pub Sve N J pf (6).. 24 24%, 2:30 p.m. Stock and Dividend Rate, 34% Pullman (1%).c... 14 PureOil . __ 112% 107% Pure Ofl pf (8) 9 112 34% 58 863 38 46 407 17 26% 67 126% 150 9'3 Purity Bak (.45g).. 7% Radlio Corp .. 62 Radlo cv pf (3 5% Radio-Keith-0 (1) 27% Raybest-Man(1%g) 27% Reading Co (2) . 36 Reading 1st pf @), 5 Real Silk._ 59 Real Silk pf_ 1 Reis& Co 12% Reis &Coc st pf 12 Reliable Strs (1)._. 16'% Rem Rand (1.05g) 32 Reo Motor . _ __. 20% Republic Steel _ 17% Revere Copper & B. Revere Cop pf (7) 75 Revere Cop pf 5% 17% Reynolds Met (1) 13 Reynolds Spr (1). 47 Reynolds Tob B (3 60 Roan Antelope 1.11g 22 Ruberoid (.60) .. 27% Safeway Strs (2). 95 Safeway Strs pf(5). 97 Safeway 6% pf (6)- 40 St Joseph Lead(2a) 1% St L-San Fran (r) .. 3% St L-San Frn of (r) 14% Savage Arms(.75g). 34 Schenley Distill(3). 1 Schulte Ret (r) ___ Ti4 Schulte Ret S pf(r). 37% Scott Paper (1.058). 1 Seaboard Afr L (r)_ 3 Seaboard A L pf (r) 26% Seaboard Ofl (1) 70% Sears Roeb (3) . ... 19! Servel Corp (1a) ... 22 Sharon Steel (1.20). 6% Sharp & Dohme 9% Shattuck FG (.6 Sheaffer Pen 2.25g. Shell Unton (%g) .. Shell Un pf (5%) ... Silver King (.90g) .. Simmons Co 1.75g . - Simonds Saw (.50g) Skelly Oil (1g) Sloss-Sheffield S & 1 Sloss-Sheffield pr(6 Smith (A O) = Smith & Cor (1%3g). 5% Snider Pack (1% Socony Vac .508) Sol Am pf ww 515 _ Sou Am G&P (.105) South P.R.Sug (2a). Sou Cal Edis (1%a) Sou Pacific _. Southern Ry 5% Southern Ry pf._. Spalding Spen-Kell (1.60a) Sperry Corp (.60g) - Spicer Mfg (2g) __. Spiegel Inc (%g)__ 1 Spiegel pf (4%) __ i 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 Oil Calff (1a) Stand Oil Ind (1a) .. Stand Ol N J (1a)_. Starrett (L'S) 3g __ Sterling Prod(3.80) Stewart-Warn(%a) Stokely Bros 1.20g. Stone & Web. Studebaker Sun Oil (1a) - Sunshine Mng - Superheater (1.75g) Superlor Oil . - Superior Steel ‘2 Sutherl'd Pap 1. 60a. Sweets Co.. Swift & Co (1.20) Swift Intl (2) _ Symington ww .60 ymington xw .60g_ Talcott Inc (.60a) .. 2 Telautograph (.60). Tenn Corp (%g)--- Texas Corp (2) '« Texas Gulf Prod_.. Tex Gulf Sul (2a) .. ‘Tex Pac C&O (.40).. Tex Pac Land Tr .. Thatcher pf (3.60) The Fair 2 Thermoid.. Third Ave Thomp Prod 1. Thompson-Star Thompson Starr pf. Tide-Water As(la). Tide-W As pf (433) Timk-Det Ax .50g . Timken Roll B(3a). Transamerica Corp » Trans & West Alr _ 9% Transue & W (.30g) 4% Tri-Cont Corp (%g) 8 Truax-Traer (.80) 26!z 20th Cent-F 1.50g 6 TwinCity RT 10% Twin Coach (.30g. Ulen&Co .. Und'w'd-EI-F 3.25g. Un Bag & Pap new Union Carbide 3.20g Un Oil of Cal (. Un Pacific (). Un Pacific pf (4) Un Tank Car (1.6 Unit Aircraft (%g) Unit Alr Lines. ___ Unit Biscuit (1.60) . United Carbon (4a). Unit-Carr Fast (2). Unit Corp .. Unit Corp pf (3) Unit Drug (%g) .- Unit Dyewood (1a). Unit Elec Coal __ Unit Eng&Fy 1.50g. Unit Fruit 3) ___. Unit Gas lmp (1) Unit Gas Imp pf( Unit Paperbd (.30g) U S & Foreign Sec__ U S & For'n 1st (6) - U S Freight (1%e). S Gypsum (2) __. Hoffman Mach S Hoff M pf (2%) i Leather A—____ Pipe (3) ____.._ Sm & Ref (3g) .. S Smelt pf (3%4) - Steel o3 - r:cfcr:t:r:cc::l:cc mvmmmwmmmmvw 119! U S Steel of (7) 136" 119% U S Tobacco (5a) 37 10% 18% 195 33 51% 18% 10% 18 12% 46 167% 107% Westh: 170 122 3 Unit Stockyds (%). Unit Stores A . __ Univ Leaf Tob (3a) Univ Pictures 1st pt UtHIP&Lt A (r)... Van Raalte (2%g) - Vick Chemical (2a) Va-Caro Chem .__. Va-Caro 6 pf(1%k) Va El'& Pwr pf(6) . 14% Va Iron Coal & C pf. 27 Wabash Ry (r) _.... 4% Wabash pf A (r).._ 9 Waldort Sys(.80g. 21% Walgreen (2) . 38% Walker H G&W Warren Bros (r) .. Warren Fdy &P(2a) Waukesha Mot (12) Wayne Pump (2a) .. Webster Eisenlohr. Wesson O & S (3a) W Penn El1 A (7). West Penn EI pf(6) West Auto Sup 1.60 Western Maryland. Western Pac Western Pac pf _. West Un Tel 2.258 . % Westinghse Air (1) 1&M (3g) Westhse Elec pf 3g. 0% 17 Weston El In .75 .- 2T% 4% 65 90% 33% 6% 416% 6% 5% 12 16 Westvaco Chl (1) 25% Westvaco Chl pf 1% 32% Wheeling Stl . 70 Wheel Stl pr pt (5)- 14% White Motor 2%2 White Sew Mach... 20% White Sew M pf.... 2% Wilcox Oil & Gas.... 43 Willys Overland .. 8% Willys-Ovd pt (Sentinued on Page A FINANCIAL. 112% 112%% 34%% 364 + g . | weather and larger crop views wert - - T+1+11 FEFEFES STOCKS MOVE UP Fieru OSTIY Irregular Rebourd Follows Sharp Drop Early in Session. Stock Averages Irdust. Ratls. Gl Stocks Net changL +.8 —1 Unc. +4 Today, noon 756 269 356 53.3 Prev. day... 748 270 356 529 Month age. 854 308 387 59.8 Year gao... 938 419 528 1705 1937 high..101.6 49.5 540 753 1937 low. 748 270 354 529 1936 high.. 99.3 435 53.7 728 1936 low. 734 302 434 557 1932 low 175 8.7 239 169 1929 high..146.9 153.9 184.3 157.7 1927 low... 516 953 618 618 (Compiled by the Associated Press.) BY VICTOR EUBANK, Associated Press Financiai Writer, NEW YORK, October 6.—The stock market rebounded after an early deer loss today and climbed irregularly for net gains of fractions to 2 or mort points. Initial trading saw United States Steel and other leaders knocked down to new lows for the current move Some on blocks of 1,000 to 5,000 o | more shares. Two forces were at work, brokers said, in explaining the drop at the start. London security prices wert weak and word from the steel in- dustry gloomy. Subsequent rising prices they attributed to improvemen' in London markets and advances ir commodities, some of which had fall- en into new low ground. United States Steel and othe pivotal issues rallied smartly at mid afternoon, but at times failed to de | velop staying power. Other steels late: moved ahead. Financial circles, noting the erratit swings, particularly in steels, said thi was symptomatic of Wall Street's in ability to make up its mind on thi course of Fall business trends. Fresh emphasis on the effects o higher costs on rail earnings wa typical of- the various depressant some groups. F. E. Williamson, presi dent of New York Central Railroad said in Boston railroad buying ha been restricted. Transactions approximated 1,800, 000 shares. Issues in demand much of the tim | were General Motors, Chrysler, Good year, Montgomery Ward, Sears Roe: buck, Macy, Boeing, American Tele phone, Consolidated Edison, Anacon: da, Kennecott, Cerro de Pasco, J. C Penney, American Can. Westinghouss General Electric, Phillips Petroleum Texas Corp., New York Central, Gres Northern preferred, Union Pacific Chesapeake & Ohio, Union Carbids Loews and Johns-Manville. A few specialties with sharp gains or | fair activity were Allied Chemical Philip Morris and Coca-Cola. Stocks which were backward in: cluded Inland Steel, Woolworth, In. ternational Harvester, American Wate ‘Works, Howe Sound, Allis Chalmers "“' | Pennsylvania, Santa Fe and Celanese NEW YORK COTTON By the Associated Press. NEW YORK, October 6-—Nea months liquidation carried Decembe: | cotton today to 7.99, with the entirt list making further new lows for thi | season. Early weakness of stocks, favorable i the depressing factors. Late months, held relatively steady ! | however, and in midafternoon Decem: % | ber was selling at 8.04, with the lis ¢ 9 points net lower to 2 higher. Futures closed steady, unchanged to 1: lo 5 | October s | December iy | January Marcn New Orleans Prices. NEW ORLEANS. October 6 .—Cottor | opened steady today. unchanged to 5 point! | down under mild Jiguidation, hedge selling | more favorable weather in the beit anc a bearish private crop estimate Imminence the official crop report or | Priday discouraged speculative activits and demand HHS limited to trade ny and covering T np»ned at 8.24. December, 8.20 S0K° March, &.0n: May. 800 uly. 817, and October (new) at 8. After the start additional flrrm[s were encountered and most positions slinpec off to new lows for the season. Towarc the end of the first half hour the genera market was selling 2 to 8 points net lower Cottonseed oil opened steady 6.70b: December. 6.70b: January, March. 6.76b: \{a» LR h Bid. lnbrnonl Qllollilunn IVERPOOL. October 6 (#.—Cotton £.000 bales. all American. Good busines: done In soot: prices “four points” lowe strict good ordina 11. Future: s 4.66; March, 4.70; May PRICE AVERA.GES HIGH ON VIRGINIA TOBACCO By the Associated Press. Average prices per hundredweight ir Virginia’s bright belt tobacco markets yesterday ranged from $30.53 to $24.90 The South Boston market reported 306,000 pounds of the leaf sold at ar average price of $29.49 per hundred, the highest average there for the sea- son. Rainy weather retarded deliverier on the Danville market, but the trade absorbed 340,412 pounds at an aver- age price of $27.01 per hundred. Some of the leaf brought only from 1 to 3 cents per pound. Kenbridge pounds, bringing an average of $30.53. LEAD RECEIPTS LAG SLIGHTLY IN AUGUST By the Associated Press. NEW YORK, October 6.—The American Bureau of Metal Statistice ore and scrap, were 45,315 short tons compared with 45,748 short tons ir July and 36,708 in August, 1936. Imports of zinc in August totalec 3,941 short tons, against 2,606 in July and 653 in June, —New England Fund Prospectus on Request A. §. GouLpeN & Co,, INc. Woodward B which sapped the market's energy i1 « sales totaled 32420 v reported August receipts of lead, ir