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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. at 33%, Public Included: highest point since the Commercial stands at 125. For Na- Win'peg. Oet.. 1.. 14 ’« 1.12% 1.12% 1,14s. Service of New 30. The total for the week of ! Cotton on shipboard clear- Jersey, 37%; Columbia uary Live'pl. Oct. 1.24V. 1.23% 1.23% 1.23% awaiting Gas, Four Months Ended April 30. kilowatt tlonal Metropolitan stock there is quite ance at the end of the 11%, North American, 23%; I .abor Troubles Curb June 12 was 2.214.166.000 DECEMBER WHEAT— week was esti- May 1937. 1036. May Recession Leaves Spin- a wide 240 American Can, a moderate over the pre- * spread, being bid and Chicago l 00s, 1.08V, 1.08% 1.00% mated at 27.000 bales, against 94%; Briggs Mfg., Union Pacific R. R_ .54* S1.22* hours, gain Minneapolis 1.15s, 1.14s, 1.14", 1.16% 36,000 Readmit Co. 275 asked. The latest bid on Union last year and 41%, and Qeneral Poods, 37%. in _SI.51 .62 vious week, which included the Memo- Kansas City. 1.04% ] .06% 71,000 two years ago Cyclical Improvement Southern Railway .57 nil Rate Well Above United ning Production was Trust Co. stock is 100, with the stock Winnipeg .1.12% 1.10% 1.10% 1.12% The range States Steel dropped % at Pennsylvania R. R. .56 .46 rial day holiday. up Liverpool follows: offered at 112. 1.22% 1,22V. 1,22V. 1.22% 95%. Other losers were General Atchison. Topeka A- Santa Fe .52* nil 13.8 per cent over the corresponding Exchange. 4.03'/.. Heavy Industry. Louisville A- Nashville 2 07 1 64 Year Motors at Ago. a a rise which com- The week end reports on other JULY CORN— 50, New York Central, 38%; Oldetyme Distillers .14 nil period year ago, Wk U&, ]l$*« Santa 3pecial Dispatch to The Star. cent scored in the unlisted securities in the Capital show Chicago 1.13% 1.12s. 1.12% 1.14 Pe, 81%; Southern Railway, Six Months Ended April 30. By the Associated Press. pared with 10 9 per Kansas City 1.16% 1.15s, 1.15V, 1.16s, -’=■«> that these issues have also been behav- i:is & 31%; New Haven, Northern Pa- NEW YORK, June 19.—In its weekly Hat Corp. of America .31 .44 The Census Bureau week ended June 5. SEPTEMBER CORN— 3%; reported yester- mSv cific, 29 Firestone Tiro A: Rubber 1.23 .70 called attention to ing well in the face of so much sell- Chicago 1.01s, 1.00 1.00% 1.02'/, iK?, js-m-ot %; Anaconda Copper, 50%; ; iummary of the general business situ- day that the cotton Utility experts Kansas City Spot quiet; middling,~ spinning industry ing on the New York 1.02s. 1.01% 1.01% 1 02 V. American Smelting, 84%; Year Ended April 30. the fact the gain over the past two Exchange. Kennecott, ition the Standard Statistics Co. of at 137.7 cent JULY OATS— Continental Can 3.IS t operated per of capacity weeks was about 8.000.000 kilo- Small Chicago Cottonseed Oil. 55%; Phelps Dodge, 44%; Loew’s, only Traders Buying Stock. .30si .38% .30% .40", *few York •Preferred. tNot reported. Minneapolis ,30s. .30% .30% .40 Cottonseed oil was 75%; Texas currently comments as fol- during May, compared with 146.7 per watt hours, compared with a rise of Daily odd-lot trading figures reported easier today under Corp., 57%, and Case, 163. Winnipeg .54% .54 .54% .55% Promoted b.v the lower lows: about over the like lard laut?atl0Dgrain United cent during this year, and 105.2 50,000,000 period by the Securities and Com- ajid markets. Final prices were States Bonds Uneven. April Exchange Chicago Cash Market. T “It is natural that sentiment net lower. Sales. 75 eon- only cent last last year. mission indicate that the so-called ? po'P's The bond market FAR per during May year. Cash wheat, no wheat. oE,aCoable :pot nominal. July partially succeeded n the financial and commodity mar- WESTERN BUSINESS "little fellow” is ?d September. (>.07; Spinning spindles in place May 31 Freight Loadings Higher. , buying stock. Com, No. 2 mixed, No. 4 rs°-onv October. in fighting off inertia as fell kets and 1.13%; 9.05. December. 807; January, 8.09. trading among business men gen- totaled 26,986,187, of which in the week the week ended June 12 he to the DECLINES DURING MAY 24.659- Freight carloadings During mixed, 1.11V2; No. 2 yellow, 1.15s*- slowest gait for a Saturday erally is at this time. With New depressed 296 were active at some time during ended June 12 totaled 754.360. the put $30,260,251 into the market and 2 Orleans Prices. in nearly seven Special Dispatch to The Star. 16%; No. yellow', lake billing, years. Price changes profits threatened and with plant op- the NEW ORLEANS. June 19 tpi_Colton month, compared with 26.991.338 Association of American Railroads re- took out $26,299,082, making net pur- No. 3 were Inconsequential. NEW 1.14*2; yellow', 1.14*4; No. 4 yel- steady at net declines 6 to •rations and efficiency completely dis- YORK, June 19.—Far West- and chases of 9Upomtsbar'ly 24.728.466 for April this year, and ; ported. This was an upturn of 9.0 $3,961,169, the commission's low, No. 2 white car), The volume of business to ern business in declined 0 3 1.11; (part 1.16; dropped rupted by the workers, not a few May per 28.484,352 and 22,828.888 for cent over the ft first Tnt- High. Low. Close. May last per preceding week, weekly tabulation of odd-lot trans- No. 3 No. 5 Open- $2,910,000, face value, the smallest cent from the white, 1.13*4-14; white, irganizations have postponed plans previous month, but year. less than seasonal traffic ex- actions on the October-:::: 12:10 advance, big board” shows. 1.03-10. 3-V.Vi ii-ST jj-gg figure for the short session since Au- was 9.1 cent above the corre- 1.11; sample grade, December __ 12 1R 12.17 12 07 ion? for expansion. If this movement he- per Active hours for totaled said. Purchases exceeded spindle May perts sales each day. No. 1 No. 2 tj*nu*ry- 12.20 12.20 12ilO 12 10 gust 2, 1930, when the aggregate for roines in to Oats, white, 48*4-49; March- widespread the possibility of sponding period 1936, according 8.547.976.501. or an average of 317 Failure of to re- If these 12.25 12.25 12 17 12 17 all bonds was freight shipments purchases, comments the No. 2 white 12.90 no $2,793,000. further index of the current white, 47*/2; (cereal), May 12.30 1°~ cyclical improvement in the preliminary hours in bound with more Wall p’on per spindle place, compared energy following the Street Journal, represent stock 48%; No, 3 a,aed steady: hieacflable With the tape resting between sales Bank of America Business Review. white, 47*4-48; sample prime Summer yellow. rapital goods industries will be con- with 9.165.313.688 and 340 for holiday interruption was attributable that is y.lob-9.30a: prime there was April, being put away in strong boxes, grade, 43. 9 S*b: little chance of noteworthy at 78.8 per cent of normal, 8 5^h- September. siderably lessened. Standing this year, and 6.893,604,077 and 242 in some measure to strikes, it was bureau drawers or stockings, there is No No December. 8.48b; changes in quotations. United States the index is 5.4 cent below the rye. buckwheat. January,ImiuV.0?!!?' 8.4Sb. b—Bid. a—Asked. “Strikes in the steel Industry and per for May last year. said. no question that their result would be No. 2 Government issues wobbled of Soy beans, yellow, 1.24*4-25. ----- through he constant Interruption of opera- recovery high December, 1936, and Spinning spindles in place May 31 I Comparison of loadings with those to reduce floating supply of with the session with gains the fifth stock, Barley, feed, 53-67; malting, 75-95. ranging to :ions in many lines because of labor represents consecutive de- in cotton-growing States totaled 18,- ! for the week ended May 29, the last an ultimately strengthening effect on three thirty-seconds of a crease recorded in GREYHOUND point and :roubles are accelerating the seasonal 1937, compared 911,159, of which 17,789.228 were active previous week not distorted by the security prices. But there is no me'ans Winnipeg Cash Market. PLANS losses to one-eighth. Such minute with a 3 9 cent decline for •ecession in industrial activity which per the at some time during the month, com- holiday influence, indicated clearly of knowing whether the stocks WINNIPEG, June 19 OP).—Cash variations had little effect on the first five months of last pur- las been in progress for the past sev- year. pared with 18.903.660 and 17.763.054 the inroads of slower industrial pro- chased are being left in brokers' wheat: No. 1 Northern, No. standing of these loans on the week names, 1.20*4; EQUIPMENT ISSUES eral weeks and prospects for a reversal May indices for carloadings, dollar for April this year, and 19.142,574 and duction on traffic, some said. which would leave them as 2 Northern. 1.18; No. 3 1.16. and the list showed part of the Northern, recessions from )f this trend over the next month or volume of retail sales and electric 16.857,592 for May last year. Of the drop of 40.495 cars from that floating Oats, No. 2 No. 3 the preceding of one supply. white, 54%; W'hite, Saturday thirty- ;wo are relatively unpromising. power production bettered April marks Active spindle hours in cotton- week. 32.944 occurred in shipments of 53%. Six Affiliates Ask second to thirteen Security Storage Dividend. Authority for thirty-seconds of “The effects of the strikes are being with percentage gains of 2.7, 1 and growing States for May totaled 6,566,- miscellaneous freight, coal and iron -•- a point. Directors of the Security Storage Co. $1,212,000 Five-Year Mort- felt in a broad group of industries. 10.9, respectively. Offsetting these 779,080, or an average of 347 hours per ore. For these three classifications, Domestic corporate liens were even have declared the regular quarterly Steel production is, of course, being advances, May building permit values spindle In place, compared with 6.- which are most intimately related to BIG FIRMS CONTINUE Notes. less Inclined to budge, and all 10.4 cent from dividend of $1.25 a share on the capital gage groups :urtailed sharply. The large number slipped per April fig- 929.810.933 and 367 for April this year, general industrial operations, the com- By the held to virtually unaltered ures stock, payable July 10 to stockholders TO LOSE STOCKHOLDERS Associated Press. positions. if stoppages of production in the and bank debits declined 7 per and 5,346,810,326 and 279 for May last bined slump from the May 29 level of record at the close of business Six Greyhound affiliates asked the Curb Market Quiet. lutomobile Industry in recent weeks cent. Adjustment for one less trading year. was 6.2 per cent, contrasted with only July 3peclal Dispatch to The Star. 3, the The in reduced the bank ■ ■ 2.9 cent books to be closed between these Interstate Commerce Commission yes- curb market In one of the las retarded assemblies, even though day May debit •- per for all other freight NEW YORK, June 19—Large for quietest since decrease to 3.3 cent. groups combined. dates, Secretary C. P. Ravenburg an- terday authority to issue $1,212,- days March, 1935, man- here have been'no major Strikes in per American business and financial in- SAVANNAH NAVAL STORES. nounced yesterday. 000 of live-year serial aged to move generally forward In hat Freight carloadings Auto Production equipment Industry. 8AVANNAH. June I ft (/Pi.—Turpentine Down. The First stitutions continued to lose stock- notes of a bad case Bdfton Corp., which main- mortgage in connection with spite of Summer Satur- lave been dropped more than aeason- firm. 33’«: Rules. 143: receipts. .son. ship- Automobile output slid to 111,620 tains a holders last year at a rate the WOOL TOP FUTURES. ments. 885: stock. 28.482. Rosin firm: Washington office, has declared approxi- purchase of 101 new buses. day doldrums. illy and power output In the strike units from 118,798 the previous week the sales. 432: receipts. 2.106: shipments. a dividend of 50 mately same as in 1935, according The purchases, the Many issues drifted been NEW YORK. June 19 UPi.—Wool top 50 147. cents per share, pay- application said, upward in the ireas naturally has affected ad- 1.032: stock. Quote—B. D. E. F. and compared with 100.161 in the to a of 180 futures closed nulet. 5 hixher to 2 lower. G. H. I. K, M and N. WG. able June 29 to survey companies com- would be made from the truck face of the uncertain strike news. 7.72Vi; 7.7o; like last holders of records yellow versely. October. 109.0: March. 106.3 bid. W4V and X. 8.7fi. week year. Ward's estimate June 18, it was piled by Frazier Jelke & Co. and Coach of Pittsburgh Plate Glass Manufacturing Co., some “The most factor in the 1 showed. A factor in announced yesterday. recouped encouraging —- the drop, it was The board The tabulation discloses Pontiac, Mich. of its losses of I ■ of directors of the Morris 8.491,021 earlier In the week, nresent business outlook is that retail said, was the stoppage of production Plan Bank of stockholders at the end of com- The individual were: running 2 at Baltimore, which is 1936, applications up points to close at 123. ;rade for the country as a whole has some plants occasioned by a strike pared with 8,554,710 a year erlier. The Central Sherwin Williams also at celebrating its silver this Greyhound Lines, Inc., scored a sim- >een maintained in a satisfactory an equipment factory. anniversary the of ilar year, has declared a Among reasons suggested for Syracuse, N. Y., $396,000, for 33 gain, finishing at 121. manner. If the distribution of Is Business? Diagnosticians of the regular 3 goods How over-all con- per cent this dividend and a 1 trend include price recovery that buses. The oil division was at it Is dition of took per cent extra, pay- mixed, with ;ontinues recent levels bound business cheer from able June released many Southwestern Greyhound Lines, Inc., Creole Petroleum a Buiineet with the Seme Week A Yeer the 30 to stockholders of record "involuntary investors," up point and Gulf to have a favorable influence on Showing Current Activity Compered Ago well-sustained demand for com- as threats of adverse Fort for 30 Oil down of June 20. Federal or State Worth, Tex., $360,000, pointing >/2. Utilities showed manufacturing activities later on. as mercial loans shown in the condition tax and and un- buses. steadiness, with neara in regulatory legislation swings confined to buyers will eventually have to enter statement of banks in 101 financial District. maf leading easiness over the effect on Dixie Greyhound Lines, Mem- narrow jucv Aim? St ft per Nov Otc jam rn aff |mav June earnings Inc., margins. in- ~ cities for the week ended June 9. Chester C. Davis, member of :he markets to replace depleted the of labor troubles in phis. Tenn., for 15 buses. Transfers for 1936 1957 vulnerable con- $180,000, the short session * They noted there had been Federal Reserve Board of ventories.” | no Governors, cerns. Illinois Greyhound Lines. Inc., totaled 62,000 shares, in the will speak at the annual compared with -•-- .jo* —----I —-Present slackening most robust volume convention for 10 buses. Cleveland, Ohio, $120,000. Friday’s volume of 105,000 of business loans for sea- of the Montana Bankers’ shares. Business any Spring Association, Teche Lines, Inc., New Orleans, -—•---. son since June 25. on CLEARING HOUSE ISSUES __* recovery started. ’’Public Opinion and the DEADLINE La„ for and Credit EXTENDED $96,000, eight buses, ! : • +10.7% Considerable attention was given the System." Leo T. Crowley, Ohio Greyhound Lines, Inc., Cleve- REPORT AT NEW YORK _| chairman INVESTMENT COMPANY failure of general construction activity of the Federal Deposit In- land, | FOR WABASH PLANS Ohio, $60,000, for five buses. Associated Press. in early June to the surance wdll address Bj the keep pace set Corp., North The notes will bear interest on a STOCK INOEX DECLINES Carolina By the Associated Press. NEW YORK. June 19.—The weekly recently. Although F. W. Dodge bankers at their annual con- scale from to 4 sliding V4 per cent. Special Dispatch to The Star. Corp. totals were still about 17 vention iri July. ST. LOUIS, June 19.—United itatement of the New York Clearing per States District NEW YORK, June 19.—Investment cent ahead of the first five months The Securities and Exchange Com- Judge Charles B. Davis House shows: to companies common stock de- of 1936, observers said costa •mission announces today extended July 12 the dead- ODD-LOT DEALINGS. prices Total surplus and undivided profits szj .1 uv^.1 l_ -iii rising that the ^JL __ New York clined with nrro tnnHirtn _j line for the general market last -..0 VQS vuw> Telephone Oo.’s $25,000,000 issue of filing a reorganization plan By the Associated Press. jnchanged at $884,780,100. Total net for the Wabash week, according to the averages com- 3*4 per cent refunding bonds Railroad. On April The Securities Commission reported yes- lemand deposits (average) increased -10* --L--:-—--—- Construction Soars. mortgage terday these odd-lot transactions by deal- piled by Distributors will be 19 he had ordered committees repre- Group, Inc. Time deposits (average) :•' * Engineering construction awards— underwritten by Morgan, Stan- ers and specialists on the New York Stock The 178,839,000. «t s. * » f for average for the common stocks s) for and ley & Co., $8,000,000; Loeb & senting bondholders and stockholders Bxchanse June 17: 8,214 sales to ncreased $2,480,000. Clearings, week bridges kindred projects— Kuhn, customers involving 218.228 shares. 6,293 for 10 leading to file a plan w’ithin 60 days. management eompanies tndlng today, $4,296,971,160. Clear- Benk Debit* outtlde rose to $80,380,000 for the week, high- Co., $4,000,000; Kidder Peabody & purchases involving 190.046 shares. influenced BUSINESS ACTIVITY for the country InJIceted by by the leverage factor stood ’general the weekof tne est since Co., Lee ings, week ended June 12, $3,373,045,- area* ehow week of activity above January 9, 1936, and com- $3,200,000; Higginson Corp., at 20.73 at the close of N. Y. City. Shaded corree^nd^g I- June 18, com- areaa Indicate declines from. pared with $1,600,000; First Boston Corp., $2,600,- 177. previous year. Black "*k.ctdirTC $57,621,000 in the Ilka pared with 21.45 on June 11. RESERVE DISTRICTS week last Heavier 000; Brow'n, Harriman & Co., ACTIVITY BY FEDERAL year. flow of pri- Inc., The of live weeh e veer age average mutual type in- Treaeaetloae eomeered with the »*■* vate into this field a $2,600,000; Harris Hall & Co., $400,000, Financial Cheek money was high Weekly High Lights vestment funds closed at 15.86 on June YEW GAINS REPORTED i..«oe I New Vorh I OUelaaA I I spot. and Edward B. Smith & Co., $2,600,000. I Phil.4.l,bU AA‘S% 18, compared with 16.19 on June 11. I +1S.B% I -S.0% I +7.S7, -fI3.0%_!-+l2-97» The stock worried B1 the Associated Press. market, early in This week. Prev. week. Year ago. BY PROVIDENT MUTUAL I St. Loaie I S.e..iCi,r I “eHe*I*’ the week Chleej* I Miaaeaeolie)I +1S.37. I +»•»*-*205^,*” by strike violence and tha Brokers' loans- $1,169,000 $1,168,000 $1,084,000 I +9.s4L 4-13.6% I +7.0% Special Dispatch to The Star. threat of a French fiscal crisis, re- •PLAN NEW SERVICE United States securities_ R. F. C. LOANS Holdings 2.526,290 2,526,290 2,430,253 DECLINE LEADING BAROMETERS covered later but finished Gold NEW YORK, June 19.—As the result ragged. reserve_._ 8,837,903 *8,838,405 7,938,539 Showing Trend of Important Factor* ^ for the ON CITRUS SHIPMENTS FURTHER jf an increase of $2,038,000 during Chang* Energy rise, brokers said, was Rediscounts_ 14,328 14,295 6,539 DURING APRIL Present Trend From Year Ago By the Associated Press. May, 1937, insurance in force of the provided by appointment of 'a Federal Bank clearings- 6,157,510 5,552,249 6,439,731 By the Associated Press. J. G. chairman of the South- Provident Mutual Life Insurance Co. Business In Dollars Cashed) Downward + 10.7 Mediation Board designed to concili- Kerr, Electric output (kilowatt hours) The (Checks Reconstruction Finance Corp. of 14.7 ate labor difficulties. ern Freight Association said yester- week ended June 12--. low stands at $952,194,000. Employment (Dept, Labor). Upward + 2,214,166 2,131,092 1,945,018 reports its loans and investments, ex- The bond market day rail carriers to provide re- May was the ninth consecutive Wages (Dept, of Labor). Upward +32.1 was quiet with plan (Final three ciphers omitted in above.) clusive of those other Gov- * involving month to show an increase. Cost of Conf. Board)... Upward 8.9 rails and utilities under frigerator service on citrus shipments Car week ended June 12... Living (Ind. + pressure loadings, 754,360 692,140 686,643 ernment agencies, totaled $1,736,389,- Downward 14.0 most of the week. from Florida to North Atlantic New paid business for the month Wholesale Prices (Fisher’s Index)... + On the home stretch ports Crude oil production (barrels)__ 3,515,900 3,538,150 2,971,400 000 on April 30. »lao showed an increase of 16 Prices (Bureau of Labor) Downward + 16.7 there was a slight improvement In Without increased rates. Stock Y. Stock per cent, Agricultural sales (N. Exchange).. 5,107,442 3,4^3,701 5,146,616 This compared with $1,739,265,000 Downward — 0.5 Kerr filed ind amounted to $6,415,000. Movement of Goods (Car Loadings). corporate issues, while United States with the Interstate Com- Bond sales (N. Y. Stock $42,150,000 on March 31 Exchange).. $39,723,000 $54,693,000 and $2,121,071,000 on Retail Trade (Fed. Res. Board). Steady + 6.8 Government loans lacked resistance. 4merce Commission a petition seeking New financing_ 143,169,000 9,839,000 208,455,600 April 30 a year ago. Contracts (F. W. Dodge).. Downward + 8.8 The bond market welcomed the relief for Southern and Eastern rail Building largest Federal Reserve ratio..___ 79.6% 79.6% 78.6% Of the total on MARKETS ARE CLOSED. Downward April 30, $345,084,- Failures (Dun’s)... —22.8 crop of new Issues In many weeks— lines from the long and short haul Steel — output rate- 76.6% 76.2% 70.0% 000 was in loans to railroads, $286,- NEW YORK, June 19 OP).—The Bond Prices (Dow-Jones). Downward 1.0 $149,000,000. provisions of the I. C. C. act. Call rate_ money 1% 1% 1% 611,000 in loans to banks and other following commodity markets were Stock Prices (Composite Dow-Jones) Downward + 7.3 RICHMOND.—Retail trade through Mar He said the added service was sub- Time money rate- l?4-ltt% financial and Upward — >1.2 wa* up 4.3 per cent, scattered return* iy4-iy2% 1%% Institutions, $891,784,* :loaed today: Silk “spot and future,” Stock Mkt. Vol. (Shares Traded)... From the district ject to I. C. C. and that the Commercial showed. Wholesale trade* approval paper. i% 1% %% 000 in holdings of preferred stock, tin. lead, copper and* Hue, rubber, carted. Grocery and druc houses reported reduced rates would apply dally. •Revised. notes sad debentures. AH mtntd, Amodaim, Bottm a 10 per cent sain. Dry goods sale* dagttnl lidee, ooooa, coffee aad mar. right) Cmnhriigt dropped 1 or more per cent. * ^ m > * _4 ft 4 _