Evening Star Newspaper, October 28, 1937, Page 20

A—20 #¥% THE . EVENING STAR, WASHINGTON, D. C, THURSDAY, OCTOBER 28, 1937. FINANCIAL. NORTH AMERICAN ITRANSACTIONS ON THE NEW YORK STOCK EXCHANGESI[][]KSM[]V[UP FINANCIAL. By Private Wire Direct to The 8tar. 2: 3l.lvm. ESOBB. Net Md 00, High, Low. Close. ehi Btock and Dividend Rate. Prev 1037 Net Prev 1037 Stock and Prev. 1037 High. High. Low. Dividend Rate. Btook an Prev 1937 Stock and Low. Dividend nu-. EARNINGS CLIMB moo. High, Low. Close. enn % + % Year’s Net at $17,600,320, or 28 Per Cent Above Previous Period. By EDWARD C. STONE. Net earnings of the North American ©o. and subsidiaries for the 12 months ended September 30, after all deduc- tions including depreciation reserves and preferred dividends, amounted to $17,600,320, or $2.05 a share on the eommon stock, compared with $1.60 a share in the like period a year ago, an increase of 28 per cent, it was re- ported today. Operating revenues amounted to $120,770,582, an increase of 6 per cent, and included electric revenues of $95,- 948,297, an increase of 7.66 per cent. At the same time operating expenses, maintenance and taxes called for $68.- 858,825, an increase of over 5 per cent. Provisions for taxes totaled $17,342,- 850, equivalent to more than 14 cents out of each dollar of operating reve- nues, or $2.02 per share on the com- mon stock, the report said. Speaking of the electric output of subsidiaries, the report stated that the Potomac Electric Power Co., Washington, made new weekly records in July and August. Gas output among other subsidiaries ghowed a 10 per cent gain. Market Views Differ Greatly. ‘Thomas R. Tavlor, former professor of economics at Swarthmore College and more recently economic adviser to the late N. R. A, under Gen. Hugh Johnson, recently collected some typ- {cal explanations of the “stock market decline,” or the baby depression. Without his quarry knowing it, Dr. Taylor interviewed an internationalist, & celebrated statistician, a broker, a builder, 8 monetary expert, a business man, a royal economist and a labor| economist. Seen separately, all gave different | and divergent views of the “business hesitation.” Dr. Taylor, who now re- sides in Washington, chuckles as he contemplates the result of his labor of love. Standard Oil Employes Aided. Approximately $4,000.000 is to be apportioned shortly among employes of the Standard Oil Co. (N. J.) and its affiliates, with each employve re- ceiving a minimum credit of $50, ac- cording to an announcement made today by W. H. Evans, manager of the Delaware-Maryland-District of Columbia division. This allotment will be made through contribution by the company to the account of each employe participating in the annuity and thrift plan, with approximately 32,000 benefiting. An additional 4,000 employes not participating in the plan, but with one or more vears of service also will be credited with $50 each in a supplemental thrift fund account established for them After the contribution of $50 to each employe, there will be approxi- mately $2,750.000 remaining in the special appropriation, which will be prorated to employes in the thrif® plan on the basis of credits they have accumulated in the past year, approxi- mately 22 per cent of their own and the company's regular contributions between November 1, 1936, and No- vember 1 this year. Hamilton Employes Form Club. ‘The Hamilton Bank Club was formed last night by 110 employes of the bank, “to sponsor social, edu- cational and athletic activities, to pro- vide funds for gifts and tokens of | sympathy through payment of reg- ular dues, and to support such other activities as may be for the best in- terests of the members.” These of- ficers were elected: Edward J. Clarke, main office. presi- dent; George M. Rowzee, main office, | first vice president; Lois A. \vmcel main office, second vice president; | Dorothy Werner, Pennsylvania avenue | branch, secretary, and Julian O. Car- | din, Northeast branch, treasurer. The directors include Kenneth O. Hulse,| W. O. Rabbiti and Frances Werner, | all main office; William H. Martin,| jr. Brookland branch; Robert B.| Morris, Dupont Circle branch; Thomas N. Leef, Northeast branch; William John Grady, Pennsylvania avenue branch; John T. Fletchall, Potomac branch; Mary Louise Sweeney, Sev- enth street branch, and Thomas S. Mallon, jr, Woodridge - Langdon branch. E. C. Graham, president of the bank, addressed the members, com- mending them for their interest and enthusiasm in the organization of the elub. W. J. Waller, vice president and cashier, also expressed his gratifica- tion at the organization of the club. Brokerage Offices Crowded. Lowering of margin requirements Prom 55 to 40 per cent by the Federal Reserve Board aroused intense in- terest in stock market circles today and brought another rush to the board yooms for the opening of the Ex- change. Observers witnessed a much higher opening and a heavy volume. It is generally believed here that in the long run the lower margins will be helpful to the market, especially to the volume of trading. The action comes after long and vigorous pleas from Exchange officers for a reduction in margins. E. C. Baltz, secretary of the Per- petual Building Association* and re- cently elected president of the United States Building & Loan League, will be honored with a testimonial luncheon by the members of the District of Columbia Building & Loan League on Baturday, it was announced today. The annual election of officers of the Dis- trict League will take place on No- vember 23. The members are elated over having the president of the na- tional organization as one of their fumber. Heard in Financial District. Former Senator Robert L. Owen, who was chairman of the Senate Com- mittee on Banking and Currency for some years, said today that the lower- ing of margin requirements might have a favorable psychological reaction temporarily, but is not likely to have substantial because many banks are showing a tendency to contract rather than expand loans. Average daily sales of chain drug stores in September were 3.9 per cent higher than in September, 1936, the Commerce Department reports. The greatest gain was shown by tobacco sales which gained 4.7 per cent. Foun- tain sales were up 4.1 per cent and other sales 2.6 per cent. The Norfolk Southern R. R. reports net operating income for the first nine months of this year as $359,026 | against $197,360 in the like period a year ago. A % High. Low. _ Dividend Rate. 5 88 Abbott Lab (1.60a). 9 Adams Exp (.30g)-. 16% Addressog (1.40) ... 1% Advance Rumley... 53 Air Reduction (1a). 15 Air-Way El Ap. 8 Alaska Jun (.60a; 1 Alleghany 11 Alles pf $30 10% Alleg pr pf 13 Alleghany Stl 1.6 6% Allen Indus (1) —meu 258% 150 Allfed Chem (8)-eee 61a Allied Stores (.20a; 34 Allis Chalm (2g) 814 Alpha Portland (1). 14 Amal Leath 19 Amal Leath pf (5)_. 59 Amerada (2) . .. 10 Am Bank Note % g. 28 Am Brake Sh (2g) 79'; Am Can (42) - .. 15% Am Car & Fy (%g)- 36 Am Car & F pf (4g). 11% Am Ch&Cable 1g 5% Am Colortype 8% Am Comel Aleo Am Crys Sug 3.25g- Am Crys Sug pf(6). Am Encaustie Til.. Am European Sec. Am Express (6) Am & Foreign Pow. Am&F P $6 pf_ Am & For Pw §7 pf. Am & For Pw 2d pf. Am-Hawailan 8 (1) Am Hide & Leath _. Am Hide & L pf (3). Am Home Pr (2.40). Am lce pre s Am International... 14's Am Locomotive 53 Am Loco pf 10'%4 Am Mach & Fy (1)_ 3 Am M & Met (.60) 29 Am Metal (%g) 53 Am NewsN Y (3).. 3 Am Pow & Lt -- 26 AmP &L $5pf (5). 31 AmP&L$6pf(6) 9 Am Rad & St S(.60) 15t Am Rolling Mill (2) » 70 Am Roll Mcvpfdly 36 17! Am Safety Raz (2). 29 Tl Am Seating (%E) .- 58 27 Am Shipbldg (2a 105% 154 Am Smelt pf (7) 6713 46 Am Snuff (3a) 734 2215 Am Stl Foun 1. 26's 1013 Am Stores (1. 50;)_. 567s 284 Am Sugar Ref (2).. 257 14 Am Sumatra (18)_o 187 140 Am Tel & Tel (9)... 99 66 Am Tobacco (5). ... 997 6813 Am Tobacco B (5)_. 20 4% Am Type Fdrs. . __ 29% & Am Wat Wks (.60g) 14% 3!'3 Am Woolen 79 30'% Am Woolen pf(3k). 20 3% AmZincL&S 24% Anaconda (118) 10 Anchor Cap (.458) 93 Armour Del pf (7).. 4% Armour (Ill) .70g _. 65 Arm 11l pr pf (6) 30 Armstrong Cork 2g. 4°x Arnold Const (%g)- 2% Artloom 6% Asso Dry Goods 35 Aeh T&SF (2g).. 78 Atchison pf (5) - 18 Atlantic Coast Line 5 AtlGulf & W Ind 9 AtlGulf&W Ind pf- 18 Atlantic Refin (1) .. Hfi') 101% Atl Refining pf (4) . 183 7w Atlas Corp (.80) __. 523 394 Atlas Corp pf (3) .. 94 40'; Atlas Powder 2.50g. 133 112% Atlas Pow pf (59 _. 184 4'; Atlas Tack (.50g)- 36% 64 Auburn Auto . 9% 2 Austin Nichols 52'3 15% Aust Nich pf A(5k) 9, 24 Aviation Corp _. 23% 5 Baldw Loctfs w. 4013 8% Balto & Ohio 47% 10 Balto & Ohio pf. 110%; 99 Bang & Ar pf (5) 43% 10% Barber Co (% &) 42 28 Barker pf (2%)-. 854 10 Barnsdall (1) 20% 9% Bayuk Cigar .5 115 108 Bayuk 1st pf (7)..- 28% 134 Beatrice Cr (1a) . 114% 90% Beech-Nut P (4a).. 15% 7% Beldin-Hem (1) _.. 30'; 8! Bendix Aviat.75g.. 23% 15 Beneficial Loan(2g) 628, 374 Best&Co (2%a) .. 105% 41 Bethlehm Stl 2.50g. 20 14 BethStl5% pf (1) 129, 87 Beth St17% pf (7). 69% 28 Bigelow-San (3g)._. 38 13!; Black & Deck (1a).. 29°c 9 Blaw-Knox (.70g) .. 32! 18 Blmgdale(1.223g)- 49, 16 Boeling Airpl : 481a 21 Bohn Alum (2.75g) 76% Bon Ami (A) (4) . 15 Bond Stores (1.60) . 174 Borden (1.60) 24'4 Borg-Warner (2) s Botany C M (A) (r) 18% Bower Roll Be(2g). 7 Bridgpt Brass .658 . 18 Brigss Mfg (2.50g). 33 Briggs & Strat (5) 29 [Bristol-My (2.408) - 53 £ Bklyn-Man Transit. 102' 32'% Bklyn-Man pf (6).. 1 Bklyn & Queens __ 19% Bklyn Un Gas 2.30g. 37 Brown Shoe (3) __. 6 PBrunsw-Balk .50g_. 615 Bucyrus-Erie .25g_. 2% Budd Mfg - 35 Budd Mfgpf . __. 2% Budd Wheel (.20g)- 10% BullardCo (1).._ .. 26 Bulova Watch ). 7 Burlington Mills(1) 5 15 Burr'gh Add M(1a).x 45 1% Bush Term (r).. .. 8 BushT 7% deb (1) 10 Bush T Bld pf ct(r) 5'4 Butler Bros (.60) ... 16% Butler Bros pf(1%) 2% Butte Copper & Z_... 6 ByersCo 24 Byers AM pf 2. 50k 12% Byron Jackson(2a)- 20% Calif Pack (1348)-. x 1 CallshanZ-La . .. 4 Calum & Hee 1.10g- 10% Campbell Wy (1) 9% Canada Dry G Al 6% Canadian Pacific__.. 33 Cannon Mills 1358, 18 Carpenter St 1.60g. 2% Carriers&Gen .15g.. 89 Case(JI) (68)...-. 531 Caterpillar Trac(2) 17 Celanese (2.25g) - 21 Celotex Corp 1.20g... 52 Celotex pf (5) 24 Cent Aguir (1%a)_. 2 Central Fdy 96 Cent I11 Lt pf (l%), Central RRNJ .. Central Violeta Sug dOVa Cerro de Pasco(4a) - 314 Certain-teed 82 1815 Certain-teed 6% pf 111 105 ChampP & F pf (6) 48 5 Checker Cab Mfg... 9013 41% Ches Corp (3) 6874 81 Ches & Ohlo (2. BDI) % Chi & East Il (r)__ 2 Chi & East Il pf(r). 1 ChiGt West (r) ... 3 Chi Gt West pf () 10% Chi Mail Ord 1.50g.. % Chi MStP&P(r).. 1% Chi M St P&P pf(r). 1 Chi&NW). . 3 Chi&N W pf (r).. 6% Chi Pneu Tool 29% Chi Pneu T cv pf(3) 1 ChiRi&Pac(r) _. 1 CRI&P6% ptfr) 1% CR1&P 7% pf (1) 12 Chick Cotton Of1. 3 Childs Co 36 Chile Copper 1. 25‘. 521 Chrysler (7g) 11 City Ice & F (2) 70 City 1&F pf (6%). 2 City Stores 244 Clark Equip 4. !0‘., 23 Clev Graph B 1%g 2815 Climax Molybd .90g 131 Cluett Peabody (1). 93% Coca-Cola (3) ... 56% Coca-Cola A (8) ... 8l Colgate-P<P ¢.50) . . 20% Collins & Atk (48). 51% 114 Colo Fuel & Ir (1g) 27% 5% Colo & South 32 18 Col Brdcsts A 1.05g 20% 4% Colum G & El .45g- 393 10 Col Pict vie t18) ... 125% 175° Col Carbon (48) _.. 69% 33% Comcl Credit (42)_. 80% 8914 Comcl Invest Tr(4) 21% 6 ComelSoly(.60)... A 11% 23% 11 604 1% 11% Au 00. High, Low. Close. uu‘ 1 384 384 384 11% +1% 424 +14% 84 +24% 24 +2% 48 42 T 18% +1% 8% + 4% 14% +1% 17% +1% 86 4% + % 6% +1% 75 ) FEE FEFISEIE R R R e T FISF SEFFS e ++:;++I FEOFEF +4+ A & L1+ Fee 32 +1% 17T% +1% 8% + % 19% + % 8% + % 4% 1 Comwlith & Sou.-... 75% 84 Com & Sou pf (3)... 19% 4% Conde Nast. 45% 21 Congoleum-Nrn(2). 33% 8 Consol Afrcraft ... 18% 4% Consol Clgar . ... 49% 22 Consol Edison (2)_. 108 93 Consol Edis pf (5).. 5% 1 Consol Film. 18% 4% Consol Film pf. 13% 3% Cons Laundri: 17% 7 Consol O1l ( 1057 102 Cons Oil pf (5) 10% 2% Consol RR Cuba 1% % Consol Textile (r)-. 13% 38 Consol Coal.. . 52% 16 Consol Coal pf 9214 804 Consum Pw pf 450~ 37% 10% Container (1.20) ... 37% 7% Contl Baking A-eee 1 Contl Baking B..... 65 Contl Baking pf(8). 41% Contl Can (3) . 51 Cont] Diamond 14 & 23 Contl Ins (1.60a 7 Contl Motor 24 Contl OIl(DeD1%E. 91 Contl Steel (1) ____. 50t Corn Prod (3) Bty = 27 Crane Co 90 Crane Cocv pf ®- 7 Crosley Radio. ... 31% Crown Cork (2) ... 36 Cro'nCkpfxw2%. 815 Crown Zeller (%g)- 70 Crown Zeller pt (5). 21 Crucible % Cuba Co 3 CubaRRpf 2% Cuban-Am Sugar. . 78 Cuban-A Sug pf 18k 16 Cudahy Packing-... 4 Curtis Pub 48% Curtis Pub pf (T)__. 2 Curtiss-Wright____ 814 Curtiss-Wright A . 234 Cutler-Ham (new) . 6 Davega Stores (1a) 9613 Dayton P&L pf 4% - 681 Deere & Co (28) 21 Deere & Co pf(1.40) Deisel-Wem-G (1a) Del & Hud Del Lack & W Den&Rio GW pf(r). Detroit Edis (63) 4 Diamond Mat (1a)_. Diamond T Mot (1). Dist Corp-Seag - . - st-Seag pf ww(5) Dixie-Vortex (1%). Dixie-Vor A (233) .. 4 Doehler Die(1.508) Dome Mines (4.508). Dominion Strs Douglas Alrcraft _. Dow Chem (3.358) Dresser B (1e) _ Dunhill Intl Duplan Silk (1) 122 112 Duplan Silk pf (8) . 1804 113% Du Pont de N 4.50g 1151 1091; Duquesne 1st Df(5). 17 214 Eastern Roll 198 145 Eastman Kodak (8) 163 150 Eastman Ko pf (§)_ 3714 15% Eaton Mfg (2.508) . 3 Eitngon Sch 15% Elec Auto L(2.20g). Elec Boat Elec Pow & Lt Elec P & L 36 b ElecP&Lpt Elec Stor Bat (2)__. Elk Horn Coal (r) _. Elk Horn C'1pf (r). El Paso Nat G (2) . Eng Public Service. Equit Off Bldg-onm ErieRK . Erie 1st pf ErieRR2dpf . Eureka Vacuum Cl. Evans Prod (1) _.. Exchange Buffe! Fairbanks pf__ Fairbanks Mrse(1a) Fajardo Sugar (3g). Federal Lt & Trac... Fed Mining & Sm_—. Federal Motor.... 4 Federal Screw .. Federal Wat Sve A. Fed Dept Strs (2) - 4 Fid Phoenix(1.608). Firestone T & R(2) First Nat Strs(2%) Flintkote (1) Follansbes Bros Food Mach (2.502) - Food Mack pf(4%)- Foster Wheeler . Foster-Wheeler pf_ Francisco Sugar Franklin Simon pf Freeport Sul (18) Freeport Sul pf () Fuller 2d pf Gabriel A Gair (Robert) _ Gair (Robt) pf (3)- Gamewell Gannett cv pf (§) Gar Wood Ind (%g) Gen Am Inv Gen Am Trns(1%g) 5 Gen Baking (.60) 2!3 Gen Bronz 64 Gen Cable _. 14% Gen Cable A 66 Gen Cable pf_ 34 Gen Elec (1.20g)- 281 Gen Foods (2) % Gen G & E1 A_ 48 Gen Mills (3) _. 117 Gen Mills pf (6) 70% 31% Gen Motors (2K g)- 122% 111 Gen Mot pf (5) ___. 15% 3% Gen Out Adv _ 19 81 Gen Prtg Ink(.608). 5% 1% Gen PubSve 65% 17 Gen Ry Signal (1).. 5% 1 GenReal& Utll .. 487% 14 Gen Real& Utpf_.. 70% 18 Gen Refract (2h) 88 131 Gen Stl Cast pf_ 33% 9' Gen Theater Eq. 437 19% Gen Time In (1a) _ 381 8 Gen Tire&R (.508)-x 20% 8 Gillette Saf R .T6g-. 88% 56 Gillette pf (5) 29% 7% Gimbel Bros 90% 4915 Gimbel Bros pf (6)- 51% 20% Glidden Co (2a) & s Gliddenris__Dec 15 6% 1% Gobel Adolf 8% 2 Goebel Brew (.20a). 115 100 Gold Stock Tel (6).. 13 Goodrich (BF) 1g.- 50 Goodrich pf (5) 16% Goody'r T& R 1.50. 77 Goodyr &R pf (5). 31 Gotham SilkH _. 55 Gotham Silk pf (7)- 1% Graham-Pal, 3 Granby Consol ... 1% Grand Union —-__—. 10 Grand Union pf 2k.. 167% Gran City Stl1.50__ 251 Grant (WT) (1.408) 231 Great Northn pf 2g 10 Grt Nor Ore ct(%&) 2315 Grt Wst Sug(2.40a) 145»; 131% Gt West Sug pf('l); 3% Gulf Mob & Nor .. 12 Gulf Mob & Nor pf... 4% Hall Print__ 58% 18 Harb-Walk (1. Eflt). 140 126% Harb-Walk pf (6)-- 8 114 Hayes Body 117% 80% Hazel-Atlas Gl(5a. 157 6 Hecker Prod (.60a] Hercules Mot (1) 185 105 Hercules Powd (6 49 Hershey Choc (3).. 88 Hershcv pf (48) . 15% Holland Furn 1.50g. 10 Hollander (1) - x 15% Holly Sug (2%8) .- 39% Homestake Min 4% 23 Houd-Her A (234).. 6 Houd-Her B (1%).. 44 Household Fiin (4) 82 Househld Fin pf(5) 4% Houston Ofl . .. 87 Howe Sound (3a)... 1% Hudson & Man ... 3% Hudson & Man pf... 4 Hudsocn MOtOT . ceee 1% Huop Motor - - —cmem 8 I[llinots Central ... 16 Illinois Cent pf_.. 41 Il Cent LL (4) -eee. 5% Indian Refining. ... 16 Indust Rayon (2).. 80 Ingersol Rand(3g). 64 Inland Steel (4a). . 64 Inspiration Copper. 3% Insuranshar (.10g). 1% Interboro Rap Tr__. 14 20 Interchem Corp(2). 214 Intercontl Rubber. 28% 6 Interlake Iron.40g- D'/l 2 Intl ARTIOULecccnm 20 23 2 42 4 o 8 P - .- AR BRaE e A @ 12 Enana 'S D 00 41% 8 254 121 T4 Mn‘oo. High. lfi'% Close. chge. 244 1125 112% 6% 134 2% 21% 2% 1815 294% 25' 5% 13 214 2114 2 1844 6315 18% Intl Asri pr pf (3k). 4 189 132 “Intl Bus Mach (6a 120 63 Intl Harv (2.50a).. 16% 8 Intl Hydro-Elec A-. 59 15% 1% Int Mer Marine. .. 6 18% 6 Intl Mining (.46%).-. 73% 89% Intl Nickel (1.50¢) 135% 127% Intl Nickel pf (7) 9% 7% Intl Paper & Power. EB‘a 36% Intl Paper&Pwr pf. 10 2% Intl Ry Cent Am 57% 85 Int Ry Cent Am D! 49% 30 Intl Shoe (2).. 52 16 Intl Silver 110 65 IntlSilver pf (8 7% 6% Intl Tel & T for ct 15% 4 IntlTel& Tel . 9% Interstate DS 2.75g- 9% Intertype (.608)- . 20% Island Crk Coal (2). 71 Johns-Manv (3a) .. Jones&Lau pf 5.25k Kalam Stove 1.50g... Kansas City Sou Kansas City Sou pf. Kaufmann Dep 1.60 14 Kayser (J) (28) .. Kel-Hayes Wh B.. Kennecott (26) __. {eystone S&W (1). mb-Clark (1a)._. Kinney (GR) .. Kinney (G R) pf_. Kinney prpf *Kresge Dep Store Kresge (S S) .90g . Kress (S H) (1.60 Kroger Groc (1.60) - Laclede Gas pf..... Lambert (2) . . Lee Rub & T 1.60g .. Lehigh Port C (1%) Lehigh Valley Coal. 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 Ligg & Myers (4a) Liggett& M B (4a). Lima Loco (1§) Link Belt (2) Liquid Carb (1.60a) Loew’s Inc (6g) Loft Lone Star Cem (3).. Long-Bell A o Loose-Wiles(1.60g) Lorillard (P) (1.20) Louisv G&E A 1% . Louisy & Nash(5g). Ludlum Steel (1) .. x MacAnd & F (2a) .. McAndrews pf (6) .. McCall Corp (134) McCrory Strs .. McGraw Elec (1) McGraw-H .5T%g 304 Mclntyre Pore ¢ 19'3 McKeesport T (2) .. 5% McKesson & Rob_.. 6 33 McKess& Rpf (3). 6 McLellan Strs .95g .. 1814 Mack Trucks (1) 27 Macy (R H) (2a) 81 Mad Sq Gard 1.35g .. 182 Masma Cop (1%8) - 1'3 Manati Sugar (r) ... 6 Manat! Sug pf (r) 4% Man Ry mod gtd(r) 913 Manhat Shirt (1) l '« Maracaibo o1l : Marine Midl (.40a) Marlin Rock (2) Marshal Field __. Martin (Glen) Martin-Parry Masonite (18) Math Alkalt (1%) . May Dept Strs (3a) Maytag Mead Corp (1g). Melville Shoe (5) . Menger A Mengel 5% pr(234) 110e Mesta Mach (3.75g) - Miami Copper . _ Mid-Cont Pet (%g) + Midland Steel (2) Midland St1 1 pf(8) 508 Minn-Hon Reg (3)._ 5 Minn-Hon pf B(4)_. 70s Minn-Mol Imp . 32 Minn-M P pf 6.50k_. 2 Mission Corp (18)-. Mo-Kan-Texas Mo-Kan-Tex pf.. Mo Pacific (r) - Mo Pacific pt (r) Mohawk Crp(1.20a) Monsanto Ch 1%# Monsanto Ch pf 414 Montgom Ward(2a) Mother Lode Motor Prod (2.50g). Motor Wheel (1.60) Mueller Brass (1a). Mullins Mfg (B) _. Mullins pf (7) Munsingwear 1.50g. Murphy (G C) 3.60_ Murray Corp - Nash-Kelv (1) Nat Acme (.30g) Natl Aviation __. Natl Biscult (1.60) . Natl Bnd & [nv 1.44 Natl Cash Reg(1g) Natl Dafry P (1.20) 2 Natl Dairy PpfB(7) 20s atl Dept Strs .. 5 Natl Dept Strs pf__ 3 Natl Distill ¢2) . 80 Natl En & Stpg (2)- 1 Natl Gypsum 37 Natl Lead (%) . 24 Natl Pw & Lt ( 60)_ atl Ry Mex 2d pf_. Sagameox ~ 8 e O TR T L IT L3 (0% TR AURos ey S e N aZeannnte Natl Supply $2 pref. Natl Tea (.30g) - Natomas (80) . __ 8 Newp't Indust (28). 55 NYAIrBr(1%s).. 2 N Y Central 225 Y Chi & St Louis_ YChi&StLpf - Y City Om 2.40g. ¥ Dock Y Dock pt Y Investor: YN N N N N N N N N YNH&H pf (r). 3 N Y Shipblds 63% N Y Steam $6 pf._. ‘a Norfolk Sou (r) . North Am Aviat._. ll‘/c North Am (.90g) 9% Northern Pacific. 1% Norwalk T & R. 9 Ohto Ofl (%8) 25 Oliver Farm._. 64 Omnibus 553 Oppenheim Col %g- 20'% Otis Elevator .80g . 61 Otis Steel 55 OtisStlistpf5%__ 63 Owens-Il1 G12.50g x 17 9% Pac Am Fish (1.20) 2 2% Pac Coast 308 7% Pac Coast 1st pf. 708 4 Pac Coast 2d pf 708 11 Pac Finance (1.80). 2 22 PacGas&El (2) .. 34% Pac Lighting (3a) .. 10% Pacific Mills(13%g). 152 120 Pac Tel & Tel (8) _ 29% 1214 Pac West Ofl (.65e) 12% 4 Packard Mot(.25g)- 17% 7 Pan-Am Petrolm _. 4% 1 Panhandle P&R (r) 29 Panhan P&R pf (r). 90 38 Paraffine (3g) ... 814 Paramount Plet_ 80% Paramount 1 pf (! 8 Paramount 2 pf(.60" 181 Park & Tilford (2). 1 Park Utah 28 Parke Davis 1. lfig,. 12 Parker Rust-Pr1%. 1% Parmelee Trans. ... 4 Pathe Film _ 8 Patino Mines. oo 214 Peerless (.308) ... 37 Penick & Ford 1%g. 65% Penney (JC) (38) -~ 1% Penn Coal & Coke._.. 2% Penn-Dixie Cement. 15 Penn-Dixiepf A __. 14% Penn G1 §8'd ct .50g-. 20 PennRR (%g) _. 34 Peoples Drug (1a)_. 22 PeoplesGas Lt &C. 9 Pere Marquette_ ... 39% Pere Marq pf 42 Pere Marq pr pf(5)_ 141 Pet Milk (1) - 9% Petro Corp (.90g) _ 3 Pfeiffer Brew .90g). 244% Phelps Dodge 1%g- 13 Phila Read C&I(r)- 65 Philip Morris (3) ... 5% Phillips Jones 80% Phillips Pet (2a] 20“ 4 i&uoflpfl 28 8 Th 4% 8% 47% 134% 26% 8 142% 140 72% 264 +1%8 140 +2 76 +1% 6% + % High. Low. 18% 4 13 Plymouth Ol 1. 40 7 Poor&CoB. . 1% Porto Ric-Am T AA. % Porto R Am Tob ¥ 24 Postal T & C pf (r). 5% Press Stl Car .258 .. 20 PressStiC2pf2%. 5% 43Y% Procter & Gam (2a) 11814 114'% Procter & G pf (5 52% 30% PubSve NJ (2. 112% 91 PubSNJ $5pf (5). 16214 132 Pub Sve N J pf (i T2% 25'% Pullman (1%) 24% 8‘. Pure Oil (.25g) 107 Pure O11 6% pf (6). 112% 107% Pure Oil pf (8) . 23% 5% Purity Bak (.45g).. 18% 14 Quaker St Ofl (.708) 12% 4% Radio Corp. 80 481 Radio cv pf 10% Radlo-Keith-O lrL 3% Raybest-Man(1%g) 13% Real Silk & 4% Reis & Co . 22% 85 Reliable Strs (1) 9% Reliance Mf (.60a). 8% Rem Rand (1.05g)-. 1% Reo Motor 12 Republic Steel . _. 72 Rep Stlcv pf(4%k) 67 Republic St of A(6) 9 Revere Copper & B. 42 RevereCop& BrA. 95'4 Revere Cop pf (7). 12% Reynolds Met (1).. 8 Reynolds Spr (1)... 55 Reynolds Tob (3)__ 43 Reynolds Tob B (3) 4% Richfleld Oil Corp.. 53 Roan Ante( 206g) 46 21 Safeway Strs (2) .. 113 101'; Safeway 7% pf (7). 66 27% StJoseph Lead(2a) A% St L~§an Fran (r) . 4 Schenley Distillid) hulte Ret (r) 31y Schulte Ret S pf(r) 36 Scott Paper (1.068). % Seaboard Air L (r) . 1'3 Seaboard A L pf (r) 16 Seaboard Of) (1)-—m Sears Roeb (2) —e. Servel Corp (1a) ... Sharon Steel (1.20). eaffer Pen 2.25g .. hell Unton (%g) -~ Shell Un pf (53%%) .. 513 Silver King (.90%)_. Eloss -ShefMeld pf(6 Smith (A O) 5 1'4 Smith & Cor 41*3) 9% Snider Pack (1%8). 13 Socony Vae 508) 4 Sou Am G & P .20g . South P.R.Sug (2a) Sou Cal Edis (1%a) Sou Pacific . Southern Ry . Southern RY pf-oee 1% Spalding 354 Spalding 1st pf. 1'3 Sparks With_ 7 Spear & Co 10 Sperry Corp (.64g 14'3 Spicer Mfg (2g)- 8% Splegel, Ine (1) 55 Spiegel pf (434) 18 Square D Co (.95g) 6 74 Stand Brands (.80). 104'5 101 Std Bramds pf .50 . 12% 243 Stand Com Tob . . 14% 2! Stand Gas & El (r). 32% 6 Stand G & E pf (1) 5 10 Std G&E $6 prpf(r) 14 StG&E 7% p pf(r) 28 Stand Oil Calif (1a) 2613 Stand Ofl Ind (1a) 4215 Stand Ol NJ (1a) 224 Starrett (L S) 3g 541y Sterling Prod(3.80) 5ly Stewart-Warn(%a) 613 Stone & Web_. 3 Studebaker 54 SunOfl (1a). - 9 Sunshine Mng (3). 18 Superheater (1.75g) 1y Superior Oil ... & Superior Steel 15% Swift & Co (1.20) 22% Swift [ntl (2) - 4% Symington ww .60g 4 Symingtom xw .60g 615 Talcott (J). 60a ___ 45 Talce pte pf (2.75a) 4 Telautograph (.60) 5% Tenn Corp (%&)--- 34% Texas Corp (2) ... 2 Texas Gulf Prod_ .. 23% Tex Gulf Sul (2a).. 163 Tex & Pac Ry 5% Tex Pac C&O (.- 5% Tex Pac Land Tr... 19 Thatcher (.758)aue 3'; The Fair __. 215 Thermoid " _ 10 Thomp Prod 1.40g.. 1% Thompson-Star . 6'a Thompson Starr pf. 1315 Tide-Water As(1a) 817 Tide-W As pf (4%) 8% Timk-Det Ax .50g . 36 Timken Roll B(3a). 10 ‘Transamerica Corp 4 Trans& West Alr _ b4 Transue & W(.30g) 3% Tri-Cont Corp (%g) 90 Tri-Contpf (6). .. 4% Truax-Traer (.80).. 1815 20th Cent-F 1.50g_.. 25% 20thC~-F Fpf 1%._.. 2% TwinCity RT __. 40 Twin City pf (Tk) .. 7 Twin Coach (.30g)-. 1'% Ulen & Co 57 Und'w'd-El-F 3. 9 Union Bag & Paper. 67 Union Carbide 3.20g “nion Oil Cal 1.20a. Pacific (6) Un Pacific pf (4) .. 22% Un Tank Car (1.60) 10% Unit Aircraft (%g) 5% Unit Air Lines. Utd Am Bosch Unit Biscuit (1.60). Unit Biscuit of (7). 91 55 United Carbon (4a) 35 20 Unit-Carr Fast (2) 814 2 Unit Corp 467% 25% Unit Corp pf ( 16 5 Unit Drug (%g) 26% 6% Unit Dyewood (1a. 91y 2% Unit Elec Coal 63 24 Utd Eng & Fdy (2, 86% 52 Unit Fruit (3) 17 9 UnitGasImp (1) . 1137% 101 Unit Gas Imp pf(5) 16w 3'4 Unit Paperbd (.30g) 20's 4% U S Distribpf __ 24% 6% US & Foreign Sec 34’ 5's U S Freight (1%e, 137 63 USGypsum (2) 2313 64 U S Hoffman Mach_ 43% 15% 284 148% 99% 314 35'% 24% 31 7 30% 15 117% 110 61 US Leather A_____ 24 USPipe (3) 3% USRealty & h‘nBA- 20 U S Rubber 4% U S Rubber 1st pf. 57 USSmé& Ref (3g)._. 63 USSmeltof (3%). 19 51% U S Steel (1g) _ 150 1004 U S Steel of (7) 9% s Unit Stockyds (%). 8% 1 UnitStores A - 21 11% Univ-Cyclops St(1) 108 29 Univ Pictures lst nf 86 50 Univ Leaf Tob (3a) 4% % UHIP&LtA(r) ... 2% % Vadsco —— 89% 9% Vanadium Steel____ 44% 14% Van Raalte (2%g)- 47 36% Vick Chemical (2a) 12% 2% Va-Caro Chem T4% 18% Vi -Clro‘nf(l“k) 115 105 El & Pwr pf(6) 37 8 ValronCoal&Cptf 2 Wabash Ry () e 18% 2% Wabash pf 4 (r)-. 19% T4 Waldorf Sys(.30g) - 33 18 Walgreen (2) 51% 32 Walker HG&W(2). 19% 17 Walker HG&Wpf(1 18% 3% Walworth 10% 2 Ward Bakin, 18 4% Warner Bros Piet.. 12% 2% Warren Bros (r) . 46 16 Warren Fdy &P(2a) 38% 11% Waukesha Mot (1a) 50% 20 Wayne Pump (2a). % 2% Wtbltlr Eisenlohr. 10% 208 1164 22 37 1 94 108 135 3508 1114 A 108 21 48 2 708 102% 11 38 3 1% 2 % 5 19 36 31% 1 814 365 1 3 2515 68 18 23 [ Rin 27 2015 98 247 38 94 82 1001 102 20 185 1319 16% 3 26% 20' 224% 15% 22% 4 37 3'n 10 14% 20 14% 621y 22 B. 9% 1103 6 3% 53 6 60 1% 6 23 36 264 40 341 29 35% 53% 1% 1 104% 104 104% +1% 7 6% 308 8 8% 111t 111% = 4 7 4% 11 3% 1 12% 20s 1 40 9 23 3 4 14 9 28 208 110 508 13 % Pitts Coal 7 T% 116% 35% 94 135 30% 13% Hl” B 14% T% 25% 102 3614 1% 31 1814 29% 8 35% 1 % 22's 66 17% 21 6 £ 27 19 98 24% 351 92 80 102 20 18 13 16 278 26 20 207 144 21 4 37 315 10% 13% 20 13% 604 19% 94 103 3% 5 10% 211 24% 32y 344 51% 28 58 12% 128 el 56 144 25 62% 247 107 5l 7% ™ 9% 62 59% 49 2% 12% 32 53 1% 1 16% 25 38% I'a 11% 3% % 9 % + 12% - % 2% + % 16% +1% 19% +1% 10% +1% W+ W 14— % 4%+ % 10% +1% 29% - W 4818 + % 116% — % 36% + % M + % 135 +1% 32 +1% 14% +14 19% + % 9% L) 27 +1% 3 + % 24% +2% 38 +3% 1+l 23 +2 264 +2% 33 354 +1% 52% - M| 58 + 4 131 1% | 131 +1% 84+ 5 5% + 1 8 +1 W+ % 9 - Y% 63% + % 10% + % 20% +1% 6 + % 9% +1 33% +1% 6+ la 28% +24 56% +3% 68 43 6514 +24 6244 +d% L] §170 86 OR MORE Prices Near Day’s Peakes After Selling Checks Rige for Time. Stock Averages Indust. Bar L Btoe ndust. Rails . sthek Net change. +.9 6 -+ 3 Today, noon 68.7 Previous day 67.8 Month ago. 804 23.2 226 29.1 421 495 20.7 342 336 372 5 53.3 54.0 31.6 53.7 64.3 99.3 435 734 302 434 175 87 239 -146.9 153.9 1843 157.7 516 953 618 618 1936 high.. 1936 low. 1932 low. 1929 high 1927 low... (Compiled by the Associated Press.) By VICTOR EUB. K Associated Press Fin r. NEW YORK, Oct. 28. —Brm\@d by a sudden shift in margin require- ments by the Federal Reserve, lead- ing stocks swept upward on today's market. Heavy buying orders at the start, with numerous blocks ranging from 1,000 to 15,000 shares changing hands put the ticker tape several minutes behind during almost the entire first hour. Traders were quick to garner profits, however, and initial advances of 1 to 6 or more points were re- duced or canceled in later proceed- ings. Dealings also slowed. Presh support entered the list on the final lap and the ticker again lagged with quotations hounding forward to some- where near their best levels of the | session, Notwithstanding boosting of short selling ante, the fact { amount necessary for speculative pur- chases was lowered resulted in 2 rush of bids that swamped brokerage quarters for a time. Short covering was thought to have been an addi- tional stimulating factor. Steels, motors and miscellaneous is- sues held well in front throughout anc were among those conspicuous on the closing upswing. Most rails, utilitie: and coppers were only in moderate demand, and there were a few losers at the finish. Transfers were around 2,500,00 shares. Foreign markets like the margin decree and, before the opening here exhibited renewed strength. The principal foreign currencies, though, were up in terms of the dollar, and no great rush for American stocks or bonds was reported as coming from | overseas. Prominent on the upsurge were U. S | Steel. Bethlehem, Republic, Slo Sheffield, Inland Steel, Wheelinz Steel, National Steel, General Motors, Chrysler, Mack Truck, Westinghouse, | American Can, Du Pont, Allied Chem- ical, U. S. Rubber, Goodvear, Mont- | gomery Ward, Sears-Roebuck, Wool- | worth, Macy, J. I. Case, International Harvester, Douglas Aircraft, Boeing, | American Telephone, Western Union, | Electric Power & Light. American Smelting, Skelly Oil, Continental Oil, w Phillips Petroleum, Texas Corp., 8anta Fe, New York Central, Union Pacific, Coca-Cola, Loew’s, Philip Morris, | Paramount, Lima Locomotive, Zenith ! Radio and Allis Chalmers. Difficulties on a follow-through were encountered by Dow Chemical, Atlas | Powder, Homestake, Dome, McIntyre, | Alaska Juneau. National Lead, Mon- | santo Chemical and International | Nickel. CHICAGO GRAIN By the Associated Press. CHICAGO, Oct. 28.—Fresh export business in North American wheat today totaling 1,250,000 bushels helped to bring about late advances in prices after material setbacks About 400,000 bushels of United States hard winter wheat was in- cluded in the new export purchases. There was considerable talk current that Russian wheat is proving to be of inferior quality. At the close wheat was ':=5% ahove yesterday's finish, Derember 933%-15; May, 96-96's: corn g off to 1 cent up, December, 587:-59: May, 5075-60, and oats unchanged to !s cent ad- the the Chicago (‘ash Market. Cash wheat, No. 4 red, 944-95'(; No. 3 hard, 98'2; No. 5 mixed, 88; corn, No. 3 mixed, 55'z; No. 2 yellow (old), 56; No. 3 yellow, 57-59%; No. 4 white, 54-55'2; oats, sample grade mixed, 30'2; No. 1 white, 3234-3315; No. 2 white, 32!3-33%; rye, No. 2, 75; no buckwheat; soy beans, No. 2 yel- low, 98'2-99; No. 3 yellow, 9715-98; larley feed, 42-55 nominal: malting, 60-87 nominal; timothy seed, 2.25-85; red clover seed, 27.50-32.50; sweet elo- ver seed, 7.00-75. Baltimore Quotations. BALTIMORE. Oct. 28 (#).—Wheat. No, jed. winter. eariicky, “spot. domestic. Toi%S: Sctover. "1 Winnlul Pfl %8 #—Crain renge 2% + 4 12% + % 32 53 +2% =% 1 17% +2 26 +1% 39 +1 4% + % 27% +1% 110 110 +2 12% +1% 3 + A% + EFELF FEEF FeEzEy - fan 198 A6%.1e l 15% AB% AT NEW YORK COTTON By the Associated Press. NEW YORK, Oct. 28.—Early gains of 6 to 9 points in cotton today, in sympathy with an opening rally in stocks, were lost under light hedging and scattered reselling when demand let up. March eased from 8.14 to 8.06 and was within a point of the low in mid- afternoon, when prices were 1 to 2 points net lower. Putures closed barely steady. 2 higher 2 lower.