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1937-06-20 [P ] * ~ ~ I FINANCIAL AND CLASSIFIED _ i--, Classified Ads ^ ^ Part Pages5to 16 j^hj^ TVO? Five Q ~~~~ ~ D. SUNDAY .JUNE 1937. = _WASHINGTON, C., MORNING, 20, LULL IN STEEL DEMAND .D. C. STORE SALES THE VACATION TARPON ROD COMES IN REAL HANDY. EXPECTED TO BE SLIGHT BUSINESS SHOWS BELOW YEAR AGO Finished Markets Continue to Show BASIC STRENGTH IN SLUMP Better Activity Than Is Usual for AS VOUM LAGS WEEK^S Present Season. DESPITEIUBLES Department Store Volumes i-iuuutcio mn, nuctifa uy me smite Most Carriers and CLEVELAND, Ohio, June 19.—Daily have been offered some additional ton- Coppers Gains in Steel and Power 14 Per Cent From Metal Trade today says: nage by virtue of the strike, but the Drop amount of such business booked Is said Sell Off—Utilities Finished steel markets continue to Lag Outputs as to be small. In some products, notably Regarded Previous Period. show better activity that is common After sheets and plates, active mills are Advance. Signs of for this season and there are favorable unable to accept any substantial or- Vitality. expectations that the Summer dip in ders for early delivery. UNLISTED BANK STOCKS demand will be less than that experi- The aggregate of finished steel sales TRADING PACE SLOWEST enced during previous years. lately discloses a gradual letdown RETAIL TRADE STAGES HOLD AT Interest in the strike still tends to from the rate , FIRM LEVELS prevailing earlier in the SINCE OCTOBER, 1934 overshadow market developments, but year, but the fact that consumption IRREGULAR ADVANCE so far there is little evidence of any Is sustained better than usual among Daily S. E. C. Report Discloses serious Inconvenience resulting to a number of major users indicates that Market Obviously Awaits Some consumers as a of the will a Undertone “Little Fellow” Shares consequence operations experience only Strong Buying Seen. Buying shutting off of from several moderate recession the next Break in Steel Strike—Oils supplies during Wholesale and Mail Order on Present Market. independent mills. JO days. Are Most Active. Outlook Is Good. BY EDWARD C. STONE. WHAT STOCKS DIO. BY THOMAS E. Retail trade in Washington's de- Sat. FrI. FLANAGAN’, Advances _11<» 40P Associated Press Financial Writer. partment stores for the week ending Declines _]8fl 180 WHEAT Unchanied_1 .VJ 158 Trade and industry last week last DEPRESSED COTTON showed was 7.77 cent DECLINES Wednesday per strength despite strikes which below the corresponding week a year Total Issues_ 508 745 con- tinued to paralyze nerve centers of ago and more than 17 per cent below the BY FREDERICK GARDNER, Nation's two the previous the Commerce De- top industries—steel and week, Associated Press Financial Writer. motors. partment reported yesterday in report- BY BIG YIELDS IN AFTER NEW 19—Stocks DISPLAYING YORK, June ing conditions in 37 key cities. Bank Evidence of vitality pulsing under moved unevenly within a narrow com- the surface of elearinngs, however, were higher than industry at large wera in steel last year, $27,781,542, compared with pass and got nowhere today in the gains and electricity output. $26,186,549. issued and An accent on the effects > Building permits SOUTHWEST EARLY slowest Saturday trading in two of strife in AREA between the were valued at STEADINESS workers and Capital $349,- a half years. employers, on 800, compared with $440,000 in the the other hand, was provided by the Among the 20 most active shares, same week in 1936. There were more less than seasonal expansion of freight the widest was of a visitors at the Smithsonian Institu- Harvest in Many Districts More Favorable Weather price change y* shipments and a drop in automobile point. Ralls and coppers were mostly tion than a year ago, but not as many production. a little lower, utilities perked up for a ss in the previous week, the report Running 5 to 7 Bushels and Labor The Associated Press index of in- Developments while, but interest died and they fin- said. dustrial activity was at ished about unchanged. Steels, motors unchanged Trade slow Above Estimates. Are Factors. 104.5. Indicating in tended to down in the Major and oils were mixed. industry general was Jest of the fifth reserve following a seasonal pattern. In district, com- Keepers of the records had to go with the like week of 1936 it stood at 90.9. pared the previous week, but BY Bj the Associated Press. to to a JOHN B. BOUGHAN, back October 27, 1934, find I Retail maintained levels about trade marched ahead, but equal to last Associated Press Market Editor. NEW day in which transactions were fewer YORK, June 19.—Following I progress was In areas af- year. Wholesale activities, the re- than irregular. CHICAGO, June 19.— Decidely early steadiness cotton turned easier the 220,950 shares traded today. flicted were by strikes sales wilter, "but port added, characterized by sub- At the finish the Associated Press av- lower prices for wheat formed the today on more favorable weather de- these losses were made up elsewhere stantial replacement orders. 60 stocks a velopments and the labor news. Octo- erage of was down .2 of and * rule today. indications of a strong buying Baltimore reported ber point to 64.4. improvement sold off from 12.14 to 12.00 and undertone were evident." the Depart- over the like last whole- Rallies failed to hold, and bottom Traders were period year, closed at 12.01, with final prices 8 to obviously waiting for ment of Commerce reported. sale trade an most some sort of break in the steel strike scoring especially good quotations of the day were 12 points net lower. "Wholesale trade likewise rendered advance. Bank clearings were 12 situation. The declaration of martial current in the wheat as The market opened 5 points higher i good account of itself. Chicago mail pit dealings law per cent better than last year and to 1 lower at Johnstown appeared slightly Drder houses neared an end. Late advices said point in partial response to reported business steady building permits also up. helpful to Bethlehem, which gained rallies at Liverpool. This Influence Steel Operations Rise. Charleston, S. C., led the dis- domestic harvest yields at numerous V* flt 81%. But there, again, was partly offset by week end liquida- only The steel in the Southwest were industry stepped up opera- trict with a 20 per cent jump in retail places turn- tion, but the 1,800 shares changed hands. volume of trading was tions to 76.6 per cent of capacity from trade over the like 1936 the ing out five to seven bushels better week, small and principally of a local char- Bargains Nought. 76.2 the week and 70 in the disclosed. than expected. previous report acter Some hunters were on hand At during the first hour. bargain like week last year, the American Iron the close, wheat was l%-2% un- at I misled Bank Stocks Firm. Later the market 11 to the opening and their bids carried Ss Steel Institute der yesterday's finish, July, 1.07-1.07%; sagged 15 reported. t While bank stocks listed on the points from the early highs under a part of the list higher. But activity f Copyright. 1037. New York Tribune. Inc.) Iron Age said, “new business In September, 1.06%-'2: com, 1*4-134, and Washington Exchange have been hold- selling promoted by the forecast sagged whole minutes went by Pittsburgh and at one or two other down; July 1.12?.-%; September, for ing up particlarly well the fair weather in without a flicker of the ticker was in the recently, and off. mostly the Western tape. points slightly larger past 1.00%-%, oats, Vi*!* of unlisted stocks of other Washing- belt next week and reports that martial Lethargy the carriers was at- week than in the week before, indi- Grain range at principal markets today: ton banks have also been firm. law had been tributed partly to loss of traffic some diversion of orders from JULY WHEAT— declared at the Johns- cating Latest Prev. through the reports show the bid on High. Low. Close, close. town, Pa., steel area. steel strike and to un- STIES SHELVE Earnings SLOWER strike-affected companies to those not Chicago 1.(18% 1.07 PACE SET Anacostia Bank stork at 50, Colum- 1.06% 1.118% The forecast for certainty over wage negotiations. Involved, but the small amount of Minneapolis 1.28',. 1.26 1.26% 1.27s. thundershowers in bia National at 200 and East Wash- Kansas City 1.05 the Greatest in the such of business indicates 1.03 1.03 1.05% Eastern and Central belts was re- activity appeared the By Associated Press. switching ington Savings Bank at Hamil- Winnipeg __1.21% 1.10% 1.20 1.21% garded less oils, but they sold very In line that the of steel users ara 14'2. Liverpool 1.27 1.26% 1.26% 1.26% favorably, especially in closely NEW YORK, June 19 —Corporate majority ton National Bank stock is view with yesterday’s level. well for the time being SEPTEMBER WHEAT— of reports of increasing insect closing earning* statements released during supplied being.” at 34 bid and 36 Chicago -1.07V. l.Ofi'Z. 1.06", 1.08% Shares a AT Electric rose to the asked. little PLANS up EXPANSION quoted but moving included COTTON power output activity, this the MILLS Minneapolis failed to stimulate week, showing profits per share. The .1.17% 1.15% 1.15V. 1.17% Consolidated Edison week of Jan- bid on Security Savings and Kansas City 1.04", 1.03 1.03 1.04% buying.
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