Evening Star Newspaper, November 1, 1937, Page 15

’ "FIN STUMBLING BONDS LOSE EARLY GAINS Many Issues in List Show Losses of as Much as Two Points. Bond Averages 0 10 10 10 Rails. Indust. Util. F'gn +.1 Unc. Unc. Unc. 7.1 99.2 925 67.0 710 99.2 925 67.0 85.1101.1 945 69.5 96.8103.9102.2 70.6 99.0104.4102.8 74.7 76.0 97.0 90.3 64.7 98.2104.4103.1 73.0 86.9101.8 99.3 67.6 1932 low.... 458 40.0 64.6 422 1928 high.. 101 1 98.9102.9100.5 10 Low-Yield Bonds. Noon ....108.0 Prev. day. 108.0 Month ago 109.2 Year ago.112.6 1937 high. 113.7 1937 low.. 107.6 1936 high_ 113.5 1936 low... 110.2 1928 high_ 1044 1932 low.. 86.8 Net change_ Noon, today Previous day Month ago. Year ago- 1937 high.. 1937 low. 1836 high... 1936 low. (Compiled by the Associated Press.) By the Associated Press. NEW YORK, Nov. 1.—The bond market stumbled lower in lethargic trading today. As the session went into the final hour many earlier gains were erased and the list showed gaps of fractions to around 2 points. A fair-sized crop of plus signs re- mained, but they were generally con- fined to minor fractions. Following announcement of a further drop in steel operations to 48.6 per cent of capacity. many obligations began a down glide. Down around 2 points were Interna- tional Hydro-Electric 6s, International Telephone 5s and Studebaker 6s, while Walworth 4s, Missouri Pacific 5s, American Water Works 6s and Rem- ington Rand 4%is retreated around a point. ‘Western Unioa 5s pushed up a little over a point and Northern Pacific 4s, Goodyear 5s, New York Central b5s, | Texas Corp. 3'»s, North American and Bethlehem Steel 3%s edged up| fractions. Federal loans were quiet and tended a little lower. Losses up to 7-32 of a point were recorded, while gains were | held to around 2-32 of a point. For- eign dollar bonds were extremely quiet, with minor changes in both | directions. NEW YORK BANK STOCKS NEW ' YORK. Nov. 1 P —New Security Dealers’ Association : Asked Bank of Man Bankers Tr (%) Bklyn Tr (4) Cen Han Bk & Tr (4) 4 Chase Nat (1301 ! Chem Bk & Tr «(1.80) | Commercial (S) Cont Bk & Ti (80 Guaranty Tr (12) Irving Tr .60) Manufacturers e Manutacturers Tr pf (2) W NV ) Public_(1'28) Title G & T a—Als0 extra or extras. CHICAGO PRODUCE CHICAGO. Nov. 1 (4 &=Poultry, live. 13 trucks: hens ste: springs firm: hens, 4!3 pounds. up 21: less tham 4’ pounds 141 rin; - col- than 4 ummu\‘ 1 hite 191 geese \. oun ip, c white, sxmu colored. White. 1742 1612 creamery spe- C'cars and cars and ghipments, Saturday, dull and unsettled: mand slow: sacked 3o Byabanks, U 5 1.30-40: U. Red M(:Cuuret Bedota Sims Trivmiphs 80 per, cent 45, mostly | Colorado | tn CHICAGO LIVE STOCK. CHICAGO, Nov. 1 (# (U. 8. Dept. of Agriculiure).—Hogs. 16,000, including 4.000 direct: market fully 10 higher than Friday's average; 9.60; bulk good and 5 ds. 50; 190~ pounds, top. Kinds scaling 1.500 Dounds upwara ket firm: Jight steers and yearlings slow, steady to weak: she stock generall but slow: short fed heifers scarce: supply mainly grassy and warmed up heifers at K00 down:. uppercrust strictly erain fed | steers. 17.00 upward with_ prime pound offerings. 19 5 n grascers here: mainly stockers: class, steady to 25 higher: good 4nd choice kinds showing advance: bulls and vealers strong a0 50 down and 1050 down, respec- ively Sheep. 12.000, including 2.000 direct; fat lambs_siow: opening bids and sal Btrong 10 15 up a -10.00 on native: choice beld 10.10-15 and better; merely good ~ Montanas. 9.50; slaughter ewes steady: good to choice. '3.00-4.00: feeding lambs “steady to easier; early sales 9.65 ow U. S. TREASURY NOTES. (Reported by Chas. 4 Rate. Mu\:r.n. e DBBarney &Dgg) o | Cert of N J gen 68 °87 U. 5. TREASURY POSITION. The position. of the Treasury Octo- ber Recunts $14.678.300.11; 3 11: " balance. F2.08° Ms receipts for i oA, the fiscal vear .smce July 1,970.43 SR or emerunc) of expenditures. %555, i39; gross dcbt, $36.056,408,005.10. & dettease of $1 91 tUinder the previous day: soid -sser B01,580,727.51 clu 70, inactive gold. o STEEL PRICES. NEW YORK. Nov. 1 uh.—Steel prices, ber, 100 pounds fob. Pitish Blue annesied sheefs, hot Yofiea. 2.40. alvanized sheets. 3 Black sheets; hoi rolled, 3.15. Steel bars, 2.45. RUBBER FUTURES. NEW YORK. Nov. 1 (#.—Crude rubber futures opened easy, to 41 lower. De- cem‘bers 8-30; rch, 15.40; May, 7-48. MONEY RATES. NEW YORK. Nov. 1 (#.—Call money steady; 1 per cent all day: prime comme: aper, 1 per cent; time loans, stead: days. 11a: four-six months.'1% bankers' Acceptances unchanged; A ays. Va-%: four months. je-la; sil months. % | Costa Rica 78’51 A | Estonia 7867 York | | Queensiand 6s°47. ANCIAL. By private wire direct to The Star. TREASURY. High. Low. 98.6 98.5 100:21 100.21 100.21 99.31 99.30 99.30 99.22 99.19 99.19 100.22 10018 100,21 100.17 100.17 100.17 104,15 104.9 104.9 ° 10228 102.26 102.28 104.25 104.25 104.25 106.17 106.17 106.17 106.13 106.13 106.13 105.20 105.20 105,20 3% 31943-47 106.31 106.31 106.31 43 1944-54.. 111.16 11113 111.13 4345-3%8°43-45_ 106.20 106.18 106.20 438 1947-52 115,17 115.17 116.17 FEDERAL FARM MORTGAGE. 3% 81964 102.25 102.25 102.25 HOME OWNERS' LOAN. 100.17 100.15 100.15 100.21 100.21 102.10 102.11 FOREIGN BONDS. High. Low. 2:85. Agr Mtg Bk Col 68’47 2m uli é Akershus 5563 9 Argentine 4s '72 Feb_ Argentine 48°72 Apr.. Argentine 413571 __ Australia 4%s 56, Australia 5555 Australia 5857 Berlin Elec 6% s°51.. Brazil 614 2%s 1949-53 2%W1948-51_. 2% 8 1951-54. 2% 81956-59. 27%s 1955-60 2%s 1956-60 reg. 38 1946-48 38 1951-56 345 1946-49. 3 w1941, 38 1044-46 3%s1940-43June QI‘G 9% 100 101 105% 105 26 304 301 31% Brazil 8s 41 40 Buenos A C 6%s'56._ 100% Buen Aires 3s'84 Pv. 57 BA4%s-4%8"77 Pv._ B A4%-415'76 Ag Pv. BA4%s-4%8"75 Pv. Canada 3s'67 . Canada 3%s'61. Canada 4s ‘60 Canada 6s '52 Chile 6560 . Chile 6s°61 Jan Chile Mtg Bk 6%5'51 Colombia 6s 61 Jan_. Colombia 6s 61 Oct._.. Col Mtg Bk 7546 ___ Copenhagen 5s 52 _ 7 T6% 9% 924 98y 1067% 112% 151 183, 24 98% 29% 55% 104 101y 10519 99% 311 2514 24'% 31 74 Cuba 6% '45 Czechoslovakia 8s°52 Denmark 5%s 65 101% Denmark 6s 42 105% 909y 31y 25y 24 iy 74 GerCBk A 6s'38____ Ger Gov 5%s 65 st Ger Gov 5%s'65 un st Ger Rep 7s 49 stpd Grt CElJap 6%s'50. Italy 7851 Ital P U Crd 7s 52. Japan 6%s 6o Japan 6%s ‘54 Kreug&Toll 55°59 cfs Mexico 5s 45 asst Milan 6158 52 Montévideo 7s ‘52 New So Wales 55 °57_ Norway 4s 63 _.____ Norway 418’65 Norway 414856 Oriental Dev 535 '58 | Oslo 4% 565 5 Panama 55 '63 stp as. Peru 6360 __ Peru 7s 59 Poland 88 50 Porto Alegre 8361 34y 44 65 6614 102 3315 419 64 66'z 102 102 s 1027 105 59 1024 102% 50 121 59 | Prussia 6s 52 _ 10614 20 17% 20 1813 Rhine Rhur 6s ‘53 _ Rio de Jan 6345 53 Riode Jan 8s°46 Rio Gr do Sul 6868 __ Rome 638 '52 Sao Paulo St 78 40 8o Paulo St 7s ‘56 | Sao Paulo St £s'36 Sao Paulo St 8s '50. Serbs 7= '62 Sydney 5%s ‘55 Tokio 6145 61 Toklo E L Ltd 6 -Un Stt Wks 6148’51 A Uruguay 68 60 Uruguay 6864 Uruguay 8s 46 Yokohoma 65 ‘61 DOMESTIC BONDS. AllesCorp 6s 49._. . 72 Alleg Corp 63 50 stp . Alleg Valley 43°42__ 1081 Allied Stores 438'50 93 Allied Stores 435s8'51 90% Allis Chalmers 4s'52. 1 Am & For Pw 55 2030 Am 1 GCh5%me 49 Am Intl 5%4s 49 AmT& T 3%s 61 AmT&T3IY% AmTE&T 4%s AmT& T 6%s Am T F 23%s-58". !3-’50 Am Wat Wks 68 '76_ Anaconda deb 434856 Armour(Del)1st u 5 Armour (Del) 48 A T&S Fead) 4s ‘96 st A T&S Fe gen 48°95 A T&S FeC A 4%s5'62 Atl Coast L cit 48 ‘52 Atlantic & D 1st4s'48 AtIG & W 1st 6869 B& O lIst4s 43 B&O4%n 60 B&O1stbm 48 B& O ref 58 95 A—.. B&O5s'96 F_ _ B & O ref 53 2000 B& Oref 6s'95C. B &0 PLE&W Vawsl Bang&Aroos 4s'51stp Beth Steel 3%3°66___ Beth Steel 4% 860 __ Bos & Me 4%s'61J._. Bos & Me 5355 Bos & Me 5867 Bos N Y A L 4s | Bklyn Ed con 3%s 66 Bkiyn Man T 415s'66 Bklyn Un Bl 5s 50 Bklyn Un Gas 6s 5! Bklyn Un G ref 6s°47 Buff R&P con 44 8'57 BCR &N 5s'34 ctfs. Bush Term 1st 45 '52_ Can’dian NR 44856 Can'dian NR 4%r"67 Can’dian NR5s'69 Can'dian N db 6% 5'46 Can'dlan P db 48 perp Can’dian Pac 4%s ‘60 Can'dian P 5344 cfs. Can'dian Pac 68 '54 _ Celotex 4148 °47 ww Central Fdry cv 6s°41 Cent of Ga con 6s 45 Cent of Ga 58659 C.. Cent of Ga rf 5%s8'59 Cent 11l E & G 6851 605. Tl 10413 65 103% 1115% 1167% 121% 88 975 111% 102y 80 110 12% 83 94 96% 38% 104% % 631 Cent Pac 1st rf 43°49. Cent Pac 5560 . Cert'd deb 534848 Champ P&F 4% s 50 Ches& O 3%s C& Ogen 43;8"92 Chi & Alt ref 3s 49 Chi1 B&QI div 33 Chi & E 111 68 '51 Chi & E 111 63 '61 ctts Chi Grt West 4369 __ Chi [&L gen bs Chi 1&L gen 6s 68 CM&StP gn 3155’89 B CM&StP4s’89 CM&StP gn 434889 C CM&StP4%s ‘89 E__. L|CM&StPbs’15 CM&StP&P ad]5s2000 Chi&NW gen 4587 st Chi & NW 4348 2037 Chi & NW 41482037C Chi & NW 4%s 49 _ Chi& NW rf 63 2037_. Chi R 1&P rf 48 34 CE1 R (&P rf 48'34ctt. Chi R &P gen 48’88 Chi R 1&P 4% 863 Chi R 1&P 4% ‘60 Chi Un Sta 3%s 51 _ Chi UnSta3%3'63 E Chi & W [n con 43 '52 | CinG & E3%s 66 Cin UnT3%sDatd CCC&St L rf 43457178 Clev Un Ter 43877 Clev Un Ter 58°73 B Clev Un Ter 5% 8724 Colo & So 4345 30 __ 104% 104% lOl% 107% 107 107 98 98 98 101% 101% 101% 105% 105%:105% 5% 6% 5% 98 98 9§ 102 101% 102 106. 106 106 49 49 49 95 95 95 924k 92 82 | Columbia G & E 5 ‘52 May Columbia G&E s '81. Colum Ry P&L 4 five- Rediscount rate, New. York, Reserve Bank, 1 per cent. J g 5. 105% 105 ' 105% Comel Cred 2% s'42__. 100% 100% 1005 THE EV Conn R Pw 3%5'61 A ConsEAN Y 3% Cons EAN Y 3%s" Cons Gas NY 4%s'51 Consol Ol 83861 Consum P un 338’66 Consum Pwr 3348 '70. Container deb s '43_. Container 6s°46 CrownC& S 4850 Crown Will P 6s '51__ Cuba Northn 6%s "42 Den & R G con 4s°36. Den& R G 4%8'36 Den & RGW 68’6 D&RG Wrtbs'78__ Det Edison 4865 F'__ Det Edison 4%s ‘61 D Det Edison 68’52 DulSS & Ats's Duquesne Lt 3% . ETV&Gacnbs'66.. Eleoc Anto Lite 45°52. Erfecv 4s'53 A._. Erl.conl 48°96... Erie ref 5875 Fairbks Mor: Fed Lt&Tr 68 42 Fed Lt&Tr 6s'64 B. Fla EC Ry 5874 Gen able 513 m '47... Gen Mot Acc 38 “45.. Goodrich 4% s 56, Goodrich 6s 45 - Goodyear T&R bs ‘57. Grt Nr Ry 3%s'67 Great N Ry 48 46 G__ Grt NRy4s'46 H____ Grt NRrf 4%s'61 A GtNRgn4%s'76 D Grt NRgn+%8'17TE Grt NRgnbs'72C_.. Grt NR6%s 62 B.__ Green Bay 68°62 B__. Gulf M & N 68 50 Gulf States Utl] 4. Gulf Sta Utli 4%s 46 Hock Val 4% "99__ Houston O11 5 %s "40.. Hudson Coal 5862 Hud & Man inc 6s Hud & Man ref 68 '67_ 111 Bell Tel 334870 111 Cent ref 4= ‘56 111 Cent 4% s 66 ICC&St LN 111 Steel deb 4% Ind & Louisy 4 Inland Stl 3%s ‘61 Interb RT 1 ref 5566 InterbRTIrf 5s'66cts. Interb RT 6s°'32 Interb RT 7s '32. Interb RT 78°32 ctfs. Interlake lron 48 47 Int Grt Nr6s 56 B __ Int Grt Nrad) 6&'62 A Int Hydro Llec 6544 Int Mer Marine 6841 Int Pap 1st 6347 A__ Int Pap ref 68°65 _. Int Ry of CA 68'T2._ Int T&T cv 4 %839 __ Int T&T 415852 . Int T&T bs ‘66 Jones& L Stl 44 s’ GlA Kans City So ref 58’50 Koppers Co 45 °51.__. Laclede G 6%5'53 C._. Laclede G 514860 D_ Lautaro Nit 19758 __ Leh Val Coal 6s'38 Leb V NY 43540 gtd dueh V P con 48 2003 Leh V Pcon 4%s 2003 Leh V RK con §s 2003 Ligg & Myers 6s '51__ LiZg & Myers 7844 _ Liquid Carbon 4s *47_ Loew's 33,8 46 Long Is] rf 48’49 stp. Lorillard 7s 44 Le & Ark 63 69 _____ L&Nunif4s40____. L&N+4%s2003C___. McCrory Strs 55 °51__ McKess&Rob 6 %350 Me C RRclt 45°45 A_ Manati Sug %8s '42__ Manhat Ry 4890 _ Mead Co 6s°45 Met Ed 1St rf 415568 MStP&SSM cn 4s°38 158°38 gtd Mo 111 6850 MoK &T 1st 4 MoK & T 5s 62 A Mo Pac 4576 __ Mo Pac 5377 F' Mo Pac 53'78 G Mo Pac 5830 H. Me Pacific 5= 81 I Mo Pac 6s'81 I ct: Mo Pac 51549 A Mob & Ohlo 4% 17 Monong Pub S 4% #60 Mont Tram 5s°41___ Morris & Es 3145 2000 Morris&Essex 4%8'55 Natl Datry 3% 8'51ww Natl DisP C4%s'45 Nat R M 43826 asst Natl Steel 43 65 New Jer P&L 4%s ‘60 NewOrl P S 6 52 A. New Orl T&M § 55°54 B New Orl T&M 6%8'54 N ¥ Central 3%s '52.. NY Central 3148°97 __ NY Central 335 48 _ NY Cent rf 41452013 NYCrf4%s2013n__ NY Cent rf 682013 ___ NYCLSh3%,s'98 __ NY Ch! & St L 43 48 NYC&St L 4%5°78 . NYC&St L6%s'74 A. NY Ch1 &St L 6s°38_ NY Conn 1st 41,8 '53. NY Dock 1st 4861 NY Dock 6338 NY Dock 55’38 ctfs__ NY Edison 2%s 65 D NY Elisref 3%s'66. NY G El H&P 4s'49 NY LE WD Imp 5s'43 NYNH&H 48°55___. NY NH & H 45’57 NY NH & Hev 68°48_ NY O&W gen 4856 NY O&W ref 48 92 _ NY Steam 1st 6s'51__ NY Steam 5s ‘56 - NY S&W gen 5s°40. NY Tel3%u"67. NY Tel gen 4%48°39__ NY Tr Rk 6s'46 stp__ NY W&B ¢%35 46 Niag Falls P 3%s 66 Niag Sh 6%s ‘50 Norf So 1st ret North Am Co 6861 North Am Ed 58°57 A North Am Ed 5s 69 C North Am Ed 5%#°'63 Nor'n Pac gen 3s 2047 Nor'n Pac 4s°97 - Nor'n Pac 4%s 2047__ 2047 Ogden LC4s 4 Ohlo Edison 4 OklaG& E3%s'66.. Ont Pwr Nia; Oreg W RR 48 61 Otls Steel 414862 . 1034 102% N NEW YORK BOND MARKET| High. Low. 2 105% 105% 1 i ‘46, 10415 1041 104% . 102% 1024 102% 107% 107% 107% 97 964 96% 104 103% 104 108% 103 103% 91 90% 90% 102% 1044 103% 44 15% 15% Th 12 109 113% 107% 29 106% 105 102% 56% 884 624 51 1041 104% 1031 1034 4 44 15% 154 15% 7 11% 109 113 107% 294% 106% 105 102% 56% 884 621 51 5015 100% 50% 101 854 983 10!% 1034 116'% 116% 99 99 33% 334 163 17 51% ;':2 107 5514 45 1% 1005 10475 1% 100% 10474 114 13 35% 211 2115 21% 201y 20% 6 6 13 10214 100% A7 1315 10214 100 77 64 100% 10313 23 1064 105% 10214 1001y 7 64 99% 103% 2% 998, 101% lOl‘i PacGas& F1 3%s'66 - PacG&E3%s'61. PacG & B 4s 64 Pac T&ET rf3%s B Pac T&T 3%8'68C .. Panhand EPL 4s '52_ Param’t Pic 3% s '47 Paramount Pic 6= '55 Penn RR 3%,8'70 C_. Penn RR4%s'81 D__ Penn RR 4%s 84 A Penn RR con 43%s°60 Penn RR deb 4148 '70 Penn RR gen 6s 6! Peoria & E inc 48 Pere Marq 4% ‘80 __ Pere Margq 1st 6= ‘68 Phelps Dodge 3%s 52 Phila & R C&l 5 3. Phila & R C&1 68°49_ Philippine Ry 4s'37_. PCC&St L4%8'771C_ PittaC& 1 4%5"52 A Port Gen EI 4348 °60 Postal Tel & C 63'563._ Reading R 4%48'97 A. Reading Jer C 4» "51. Rem-Rand 4} #56ww Republic Stl 4%s ‘56 Republic Stl 4148 61 Republic Stl 5%s "64 Revers Cop 4% 8 '5§ Richfield Oil 48'62___ R1A&L 18t 43%8°34_ StL-San Fr4s'50 A__ StL-San Fr 45 '50 cfa. 8515 85% 106% 106% 102 102 90 90 9% 9% 15 15 13 12 b ’ NG STAR, WASHINGTON, D. C.. MONDAY, BUSINESS HAILS BETTER MARKETS Watches Signs of Strength and' Awaits Response to Auto Show. Srecial Dispatch to The Star. NEW YORK, Nov. 1.—Security markets were heartened last week when the Reserve Board cut margin requirements from 55 to 40 per cent, effective today, reports Business Week, Business watched with satisfaction the signs of strength on security ex- changes and awaited the public's re- sponse to the 1938 automobiles, which, bearing higher price tags, were pre- sented officially. Stock prices moved erratically up- ward. A batch of earnings reports covering the third quarter are now coming to light, revealing what was generally expected—a narrowing mar- gin of gain over last year. Commodity prices last week were not doing as well as had been anticipated, but con= tinued to go down. Steel producers weren't enthused about the rail rate increase as at first expected, because the estimated higher revenues would still be insufficient to cause any substantial buying of steel by the railroads. Increased rates on their own wares the steel companies plan to shift' to their customers. Meanwhile, operations last week dipped 3.7 points and steel scrap prices fell off sharply in all districts. It's beginning to dawn on the steel men that when they produced 27 per cent more tonnage in the first nine months of 1937 than in the same period last year they provided pretty hefty inventories for their customers. Hence the present lack of appetite on | the part of the customers. Newspapers hope that the selling season for 1938 models will mean big- ger budget allowances for automotive advertising. They have reason to be- lieve that selling isn't going to be a push-over next year, what with higher prices and uncertain general business conditions, and that sales promotion | { will have to be aggressive if 4,500,000 cars are to be sold. Automotive newspaper advertising lineage has been shrinking since 1934, when it made the first post-depression bulge. Even the first nine months of 1937 ran 5 per cent under comparable months of 1936 From retailers the current reports are generally good, with credit being given to the weather. Apparently, neither stock market breaks nor the shrinking pay envelopes of wage earners in industries that are cur- tailing operations have had much effect on the sales records. But shrunken wages are certainly a factor to be watched over the next few weeks. Wholesalers and manu facturers are -still handicapped by the advice going around to buy cau- # | tiously for the near-term requirements, | though cotton textile buye: are at- tempting to get current prices. Mills are turning down such requests in view of the present disparity between costs and selling prices, and are hoping that before many days have passed prices will take an upward turn, Men's clothing has not been selling so-well this fall and the reluctance to buy has extended all the way back to the woolen mills, Last week some of the woolen goods manufacturers resorted to price reduction of 10 to 15 cents a yard to attract better buy- ing. It is expected that major pro- ducers will also announce reductions on the spring and summer suit fabric. To the man in the street, however, the cuts will mean a saving of only 50 cents a suit, manufactirers say. . NEW YORK GRAIN. &h Hour steady: fancy patents, 5.40- teady; No. 2 western, c..f. i domestic No. 2. c.1.f. export (new), 1 teady; mess. Middle West special loose 12 endy’ 9.80-9.90 llnw steady; 614 extra yellow and choice house. 00-20.00 & No. 2 15.00-173.00; sample i200: W steady. Beans eas 8% 19875, jBacific Coast, High. Low. 2:55. 13 12% 11t 111 144 1815 -- 102 15 T% 101, StL-San Fr 4%s'78__ St LS F 4%8'78 of st. St L-S Fran 5860 B__ StLS Wgnrf5s'90_ St P & Duluth 45’68 Seabd A L 4s ‘50 stp Seabd A L rf 48'59 cfs Seand A L 6845 A Seabd A L 6s 46 ctfs Seabd A-F1 68'35 A ct Shell Un deb 3% '51 Simmons Co 4852 ___ Skelly Ol 4s°51 Socony Vac 3%s 50 South Bell T&T 65841 Southn Cal G 4%s'61 So Colo Pwr 6s 47 A Southn Kraft 438’46 SoPac3%s 46 So Pac ref 4856, So Pac 4%s'68..__. So Pac 4%s°69 So Pac 418 '81 So Pac Oreg 4%8°'77 _ So Pac S F Ter 48 '50. So Ry gen 48°66 A 73 73% 100% 100% 98% 987 81 82 1064 106% 83 83 91 91 1043 10414 90% 901, 36 36 % 8 100 100% 102 102 105 105 105% 105% 106 106 931 934 Southw'n G&E 4860 Stand Ofl N J 38 '61 Studebaker cv 63 *45 Swift & Co3% Tenn El Pw 6347 A_. Texarkana 5%s'50__. Texas Corp 3%s ‘51 Texas & Pac 63 80 D_ Third Av ref 4s'60 Third A ad in ex 68'66 Tide Wat Of) 345'52 Tol & Ohfo C 3%s'60 Tri-Contl Corp 55 '53 Un Elec(Mo)3%s 62 Un Oil of Cal 3%s '52 Union Pac 3%s'70 Union Pac 3%s'71 Union Pac 1st 4s°47 Unit Cgr Strs 5852 __ United Drug bs 53 U S Pipe&Fy 3%s5'36 U S Rubber 5847 __ Utah L& T 68 44 A Utah P& L 6844 Ut P & L 5859 ww- UUIP&LE%s"4T___ VA E &P 1strf 4355 Va Ry 18t 3%s Wabash 1st 58 '39 Wabash 53 ‘76 B Wabash 6%s 75 Walker H&S 4 Walworth 48 °65 . Warner Bros cv 6s '39 Warren Brev 6841 . Wstchr Lt gn 3% 105 10574 106 9315 5414 544 4 108 108 104 104 95% 19% 19% 19‘/: Westn Un cl tr b 'll 100 100 100 Westn Un 5s ‘61 West'n Un 5s ‘60 Wheel Steel 4348°66... 93'c 931 93% ‘Wilson & Co 4s ‘55 T 97% 974 9Tl Wis Cent 1st gn 4849 . 13% 1315 13% Y'ngstn S&T ¢s'61._. 100% 100% 100% A T61 5% Tl 8% T2 13% 1938 deliveries at | UARTEREARNINGS RISE 23 PER CENT Average Advance Bolstered by 90 Per Cent Boost of Steel Produters. By the Associated Press. NEW YORK, Nov. 1.—Third quarter earnings of industry, measured by profits of the first 149 leading compa- nies to report, were 23 per cent above the corresponding period last year. The upswing was not as uniform as it was earlier in the year, many concerns showing the effect of higher costs. Sixty-seven of the 149 third- period statements fell below the com- parable quarter in 1936. Steel producers led the climb into higher ground with a 90 per cent in- crease over last year. The wide gain in this category materially bolstered the average advance. | Another heavy industry group, rail- road equipment manufacturers, whs near the top of the list with a 47 per | cent rise. The automotive industry was among the most profitable. Oils picked up 27 per cent over last year; automobile accessories 25 per cent, and the two largest reporting automobile makers, whose securities are publicly owned, 22 per cent. The heaviest losers included food companies, down 28 per cent; utili- ties, down 19 per cent, and railroads, down 4 per cent. The following tabulation shows the number of reporting concerns, third quarter income, and the per cent gain | over last year: Third-quarter. Pet ne gain. | a0 Companies. nwlmnd Equip, oil Auto. Miscellaneou; Railroad Utility Food Total “Decline. EUROPEAN INTERESTS RESUME GOLD HOARDING By the Associated Press. LONDON, Nov. l.—After a period | of comparative quiet gold hoarding has been resumed by continental in- | terests disturbed over their financial and political situation. Since October 20 more than $24,.- 000,000 in bullion offered in the open market has been bought by such interests at rising premiums over the daily dollar quotation. Last Friday the premium reached 10 cents. Gold buyers have sold French francs, and lately dollars, to obtain exchange for purchase of the metal. To a large extent this has been held ac- countable for a decline in dollar ex- change on London. Unsubstantiated rumors from the Continent that a further cut in the | gold value of the dollar was contem- plated also were held partly résponsi- ble for selling of dollars. NEW YORK SUGAR. NEW YORK. Nov. 1 (#.—In com- paratively quiet trading, sugar futures were narrow today and somewhat ir- regular, The No. 3 contract held relatively steady, influenced by the spot market. May at the beginning of the last hour held around 2.38, or 1 point net higher, No. 4 contract, however, was about point net lower as March sold off from 1.12 to 1.11%;. FOREIGN MARKETS LONDON. Nov. 1 #).—Trading in the stock exchange was extremely quiet today with operators awaiting further develop- ments ih the political situation. Gilt- edged secu trans-Atlantic section c down. Industrial shares were mixed and the oil and mining | sections sold lower; home rails held steady. FREIGHT LOADINGS NEW YORK. Nov. 1 (P.—Revenue freight carloadings on railroacs reporting today for the week ended October 40 in- cluded Quotations on ominally about the 1 k. but there ae no Jesl demand the market The muajority of hoiders followed & wai: ing_policy pending outcome of the goods market situation. COTTON GOODS MARKETS NEW YORK. Nov. 1 () —Cotton goods markets were fairly active today and prices firm. Finished cotton goods sold in fill-in amounts. Raw silk was steady but buying was slow. ~Rayon yarns moved erate volume. steady, in mod- Burlap was quiet and | REGISTRATION STATEMENTS. By the Associated Press. Registration statements for new securi- ties fleg today with the Securities Com- mission included State Street Investment Corp.. Boston. N 0ZE000 of no-par value common stock. er. First Mortgage Money For CONSTRUCTION LOANS and LOANS ON IMPROVED PROPERTY in the District of Columbia Nearby Maryland and Virginia Also Monthly Payment Loans Prompt Action B. F. SAUL CO. 925 15th Street Natl, 2100 NOVEMBER 1, 1937 -FINANCIAL, LIBERAL DIVIDENDS PRINCIPAL FOR | k | ) Inderdlate BUILDING ASSOCIATION ON IMPROVED D. C. PROPERTY Immediate attention on your application for buying, rebuilding or refinancing. Loans repayable monthly. No charge for appraisal if loan is not made. Interest charged only on unpaid balance of principal. EqurraBie Co-oPERATIVE BU]LDING ASSOCIATION 915 F STREET N.W. Organized 1879 At Interstate your sav- ings are at work for you earning liberal dividends. And they are safe be- couse every account up fo $5,000 is fully insured. Inquiries invited. Under Supervision of the United States Treasury Washington Building 15th St. & New York Ave. District 9486 Consider These Facts When You Wish To Arrange A REAL ESTATE LOAN (] LOANS on improved or to be improved real estate— as low as 7.50 per thousand per month PERPETUAL Building Association is the largest in Washington, and one of theleadersintheentire United Stat V\avvfi MONEY TO LOAN ON REAL ESTATE aloq MONTHLY PAYMENTS JF PREFERRED Our Beal Estate Officers Tavite You te Confer PERPETUAL has over 55,000 bor- rowing and savings members. PERPETUAL'S Board of Directors keep in close contact with the officers and materially assist in iacluding interest and | yhq ypeedy handling of loans. curtail . . . No commis- sions . . . No renewal fees. Let us heip you solve your problem with a Perpetuai loan. PERPETUAL'S regular examinations by the U. S. Treasury Dept. are sup- plemented by special C.P.A. audjts well as its own Auditing stafi. PERPETUAL has always had a rep- utation for sound, fair apprai Over 200 borrowers per month were advanced loans last year, totaling over $12.000.000 for the year. PERPETUAL BUILDING ASSOCIATION 11th & ESTREETS, N.W. ESTABLISHED 1881 Largest In. Washington=Assets Over $43,000,000 ARTHUR G. BISHOP MARVIN A. CUSTIS EDWARD C. BALTZ Chairman of The Board President Secratary Washington Loan & Trust Company Shar ITh & G Mamber, Federc] Reserve Sysiem and Federal Deposit Iasurance Corporation. 70,000 men and women find their banking needs ably met by this strong, well-managed, 47-year-old institution. And they like the courtesy and friendliness which go hand in hand with all American Security dealings. . . . . We take pride in serving these 70,000 customers, and would be happy to welcome you, too, as a depositor. We invife’ you to call and let one of our officers explain the advantages of banking at one of American Security's five offices. AMERICAN SECURITY AND TRUST COMPANY Largest Capital and Surplus of any Washington Trust Company Main Office: FIFTEENTH STREET AND PENNSYLVANIA AVE. CENTRAL BRANCH 7th and Massachusetts Ave., N. W, SOUTHWEST BRANCH Seventh and E Streets, S. W. NORTAWEST BRANCH 1140 Fifteenth Streer, N. W, NORTHBAST BRANCH Eighth and H Streets, N. E. Memser FEpERAL DEPOsIT INsuRANCE CORPORATION Memser FEDERAL REserve System