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BUS. ADM.
LISRARy
fiU u
COPYRIGHTED IN 1936 BY WILLIAM B. DANA COMPANY, NEW
YORK.
ENTERED AS SECOND-CLASS MATTER
A/ 1
JUNE 23, 1879, ATTHE POST OFFICE AT NEW YORK, NEW YORK,
William B.Dana
VOL. 143.
"suedw;;Kt'0,r"
BROOKLYN
NO. 3713
NEW YORK, AUGUST 22, 1936.,
TRUST
THE
COMPANY
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ditionally
For
NEW
many
BROOKLYN
YORK
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Member Federal Deposit Insurance Corporation
bankers* bank.
a
years
it
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a
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b
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Head Office
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Cairo
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Established 1872
FULLY
Chief Office in New Zealand: Wellington
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tion and
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/
.
•
1¥
t
f
ornme
V:
Vol. 143
AUGUST 22,
No. 3713
1936
CONTENTS
Editorials
i
Financial
Situation...
page
1128
.
Taking Advantage of the Drought
..1141
Civil War and Neutrality
.
•
'*
•
•
>1142
'
'
Comment and Review
Week
the
on
European Stock Exchanges
1132
Foreign Political and Economic Situation
Foreign Exchange Rates
and
..1133
Comment
1137 & 1173
Course of the Bond Market.
1144
Indications
1145
of Business
Activity.
Week
on
the New
York
Stock
Week
on
the New
York
Curb Exchange
Exchange
„
1130
1172
News
Current Events and
Bank and
Trust
Discussions
General Corporation and
1171
Investment News
Dry Goods Trade
State and
1155
Company Items
..1255
..1265
-
.
Municipal Department.
1266
Stocks and Bonds
Foreign Stock Exchange Quotations
1215
.
Dividends Declared
Auction
1175
Sales
1215
New York Stock Exchange—Stock Quotations
1183
New York Stock Exchange—Bond Quotations.. 1182 & 1192
New York Curb Exchange—Stock Quotations
New York Curb Exchange—Bond
Quotations
1198
....1201
Other Exchanges—Stock and Bond Quotations.
1204
Canadian Markets—Stock and Bond
1208
Quotations
Over-the-Counter Securities—Stock & Bond Quotations. 1211
*'
*
'
Reports
Foreign Bank Statements
Course of Bank
...1136
...
Clearings....
1173
...
Federal
Reserve Bank Statements
1179
General
Corporation and Investment News....
1255
Commodities
The Commercial Markets and
Cotton
Breadstuff s
the
„
Crops.
1255
,
...
1257
1262
Published Every Saturday Morning by the William B. Dana Company, 25
Spruce Street, New York City
Herbert D. Seibert, Chairman of the Board and Editor- William Dana Seibert, President and
Treasurer; William D. Riggs, Busines
Manager.
Other offices;
Chicago—In charge of Fred H. Gray, Western Representative, 208 South La Salle Strpet (Telephone
State 0613).
London—Edwards & Smith. 1 Drapers' Gardens, London, E. C.
Copyright, 1936, by William B Dana Company.
Entered as second-class matter June 23. 1879. at the post office at New York, N. Y., under the Act of March
3. 1879.
Subscriptions
in United States and Possessions, $15.00 per
year, $9.00 for 6 months: in Dominion of Canada, $16.50 per year. $9.75 for 6 months
South and Central America, Spain, Mexico and
Cuba, $18.50 per year. $10.75 for 6 months; Creat Britain, Continental Europe
(except Spain), Asia, Australia and Africa. $20.00 per year; $11.50 for 6 months.
Transient display
dvertising matter. 45 cents
per agate line.
Contract and card rates on request.
The Financial Situation
Yet it is
THE financial press advances in corporation
showing marked is still replete with statements
conditions
earn¬
reinstated
ings,
hand of
on
increased
or
dividend payments,
gratifying proportions.
the country
the
are
least
of
report
give
were
last week at; pains
turns
are
increasing, and
and
Squandering Our Money"
"There
being
are
re¬
done
a
for
months been using
some
operating
have
been
almost
do
to
indeed, they
as,
obliged
traffic
as
in¬
has
Capital Expenditures
during the ordinar¬
ily dull
months,
summer
not
yet showing a
as
marked increase in the pro¬
portion
of
the
funds
acquired
which
for
construction
new
so
used
are
or
capital improve¬
it
but
ments,
is
clear
enough that current
earn¬
ings and accumulated funds
of
the
been
of late
have
past
plied to such
said
these
are
as
his
for
in
go
if and file
may
ing
five
past
years
still
while
or
not
extremely
be
and of
be
much better than
until
case
was
relatively
be
more
fully informed
as
the
throw
re¬
light
some
on
these aspects of
be
termed
than
normal
mere
for
of
the rate
against the
the
fiscal year.;
has
waste
are
to
be
obtained
a
This
It is difficult to say to
what extent these enlarged
capital outlays represent increased confidence in the
longer-term future, but it
pose
that
a
provement,
seems
fairly safe to sup¬
continuance of the present rate of im¬
or
one
closely approaching it,
would
bring substantially larger capital preparations for a
more
man,
distant
future.
Thus,
the
average
business
and for that matter the professional analyst of
conditions, is
now
inclined to look
situation and call it good.
upon
the current
still
be¬
through
deficit
in¬
is
flationary operations at the
banks, and
no
in evidence of
intention is
changing the
practice in the least.
the other
Only
day the Comp¬
troller of the Currency re¬
ported that National banks
from
from
.
of
total
their
increased
had
-holdings
governments
$7,785,979,000 to
$8,447,364,000 between
March 4 and June 30,
had
considerable time, but the fact
such
outlays at $100,-
ing financed
and extravagance.
being undeitaken at all is significant.
Mr. Hopkins
estimated
000,000.
obtaining in consumption
that they are
since
additional
activity
goods industries for
Congress for
funds for the current
more
idea that blessings rather
reverse
which
expenditures
him to go to
his
test
might
prove to
day would probably oblige
candidacy.
We hope so.
Meantime, we join the Governor in his pro¬
lays have not reached what
finally
the President said the other
to
cently. These capital out¬
In¬
in view of increased
zero
relief
curse
to
the
but
it is quite possible
that it will
may be able to convince the rank
they have not been fully convinced
course
re¬
necessarily
must
relatively slight.
deed,
just what he means by being a "liberal."
He
is now only beginning his real campaign, and
his addresses during the next few days may
active, is certainly doing
expenditures
operations,
progress
evils.
Naturally, thoughtful citizens will want to
know what the "many, things" are that the
Governor believes "government should do,"
more.
balanc¬
toward
current
ing
benefiting the community, is really the source
construction,
will
ceipts apart from liquidat¬
of many serious
Domestic
be that
progress
against strictly current
very own.
an
are
Gov¬
the
during the coming
months
spending years past that
which, far from
Bfor some is economic reckless, wasteful
the
slight
be made
since
account,
obligations
ernment) it
some
glad that Governor Landon is again
the fundamental error, and we
as
capital
by
4 hope that he
neglect
for
matters
form
under
program
must,
undertaken
have
to
re¬
con¬
we
If pointing to
inevi¬
table in view of the
of
ap¬
purposes, as
almost
was
extreme
We
liberally
more
again
spendthrift."
are
receipts
security
offsetting
apotheosize "spending" as one of
the cardinal economic virtues, and the degree
to
which the present Administration has
pandered to this perverted notion of eco¬
nomics.
We hope it is likewise indicative of
a
belated awakening of the people to the
deadly nature of this fallacy.
The idea substantially antedates the in¬
auguration of the New Deal.
It is apparently
an outgrowth of
the feverish activity stimu¬
lated by vast war expenditures.
At any rate,
it pervaded much of the discussions of the
New Era, and it was pressed so persistently
upon
President Hoover that he felt called
upon at one time to warn the country that it
could not "squander its way out of the de¬
pression."
Mr. Roosevelt as a .candidate for
the Presidency struck hard at the notion on
several occasions, but no sooner had he been
inaugurated than he adopted it in the most
Capital flotations, which
other
a
inclined to
have been rather well main¬
are
be
Tax
leave out of
we
they ought to
to
our
money.
I
liberal without being
squandering
can
significant commentary upon the extent to
which we as a people have of late years been
creased.
tained
man
brought lusty
cheers when they issued from the lips of
Governor Landon, as the candidate paused
on
his
journey east across the country.
Economy and efficiency in the administration
of government have been favorite campaign
topics for many years past.
That the subject
is attracting unusual attention this year is a
tively freely for "mainte¬
nance,"
a
These words
rela¬
revenues
if
(which
many
without
believe
ported. The railroads have
are
we
essence
things that government
should do, but I think we want those things
capital goods in important
proportions
demonstrate.
to
even
the social
of
replacement
pre¬
badly
as
long time past, if
a
sideration
expenditures for
rehabilitation, moderniza¬
tion
still exist, and
The Federal budget is still
it has been for
is
past
years
segregate capital expenditures and receipts, as we
1929.
relatively speaking, but in an increasing number
cases
government
definite promise of disappearance in the
out of balance as
optimism that has not been
an
nearly equaled, since
or
no
dictable future.
parts of
Not only
consumption goods industries flourishing, at
equaled,,
Federal
the
business in sharp check,
held
have
Those in touch
with industrial and trade executives in all
which
largely responsible, and which for several
indicating business activity and orders
trade reports
fact that the fundamentally unsound
a
for
-
increased
their
and
hold¬
ings of long-term governments from $855,563,000 to
$1,824,660,000 during the
the extent that
now
playing
same
"repayments"
so
important
a
period of time.
statement, represent merely the sale by the
ment
the banks
to
example
as
the
disburses
as
much in evidence here
government
in the banks
the
and relief."
govern¬
capital obligations, Such for
municipal and railroad bonds, the process
of inflation is
when
of
To
previous advances,
part in the Treasury
on
places
its
as
own
is the
case
obligations
against arbitrarily created deposits and
proceeds
in the
name
of
"recovery
Volume
Chronicle
Financial
143
Unwise Laws
1129
♦
only if the business community persists in looking
NEW DEAL banking legislation ofstatute books, its policies wisely in the face andofisthese facts.guide
the facts squarely in the light
careful to We
desirable
is
the the most unstill upon
sort
and
there is
nothing to suggest that it will be re-
moved therefrom
autumn election.
ish and both
Farm
parties
record
on
the
Supreme Court
It is
probably safer to depend
the former than the latter for this service,
on
law is still the law at present.
wise tax
would be
is still with
He
vaporings
about
altering it in its essentials.
upon
of
possibility
the
It would be difficult to
at this time just what Governor Landon and
say
his
party would do about the Social Security Act were
they placed in
way
of important change unless they
given responsibility in
are
of
Whatever may
conducted and
be its motives, its operations
rather
as
certainly not
definitely promised
unmixed blessing,
an
side business is faced by bureaucracy,
trenched, militant and vindictive.
Apart from
en-
few
a
patently given purely for political
vague assurances
reasons,
and consequently not greatly to be trusted,
there is
no
new
evidence of any
enlightenment
on
change of heart
the part of those
the governmental affairs of the
Nation.
or any
managing
now
With deep
regret be it said, the Republican opposition has not
yet given evidence of the
quired to
the ability
courage or
the country from
save
a
re-
situation that would
have taxed the greatest statesmen that the century
and
a
half of
existence has
our
produced.
.
There
are
narily to
build
which
over
age
of
after
most from
a
just
as
to ourselves in the process.
time
or
another.
ment will be
holds many
It
well
may
did
the Ethiopian,
now
seething with
semi-failures,
taken most
wave
tance ?
consequences at one
be that the final denou-
long deferred, but the state of affairs
hazards.
drought with
to
It may
its
Then there is of
accompanying
which
in
as
of
many
who
the
course
failures
crop
ordinary
seriously by
it aside
course,
is that
optimistic, forhad learned in the years
we may presently become much too
get what
thought
we
we
immediately following the crash in 1929, and
ceed to erect
a
pro-
superstructure upon a foundation of
shifting sand. The consequences of a repetition of
the errors of the 1920's are much too dreadful to
contemplate.
We must not under any circumstances expose ourselves to them. The danger that
we may do so is nevertheless the greater by reason
of the fact that there is such a large percentage of
nounced the false philosophies of that era and which
still clings to the inflationary ideas that underlay
them.
Some of the factors that played an important part
in the excesses of the New Era do not present themselves at the present time. The feverish activity
of those years was in a substantial measure made
/possible by the existence of an industrially prostrate Europe, to which we were willing to send
goods against promises to pay which in most instances have not proved, and could not reasonably
bave been expected to prove, of great value. Prom-
about as freely taken from various
"undeveloped" countries with which we stimulated
a ^arSe export trade with about the same consefluences. It is hardly conceivable that this mistake
be ma^e again within the next few years at
*see *° Pa^ were
Revolutionary changes in
even
our
^ode 0f
or
would
be
times
industrial
our
sys-
living, changes result-
produced,
in
were
other factors of first rate importance
the earlier period.
not
now
course
Corresponding changes
now are
inclined
relatively secondary impor-
which it is not
are
in prospect so far as can be seen, but of
they
nently in
were
not in evidence, at least promi-
evidence,
until
the latter part of
the
New Era.
discontent, and with "movements" highly nationalistic, all pointing to disastrous
.•
.
One of the dangers of the day, of
part from the abundance of funds that inflation
gainsaying the fact that Europe al-
end to the other is
one
do not
ing in part from the discoveries of science and in
One of them,
the deepest anxiety.
fashion
a
no
we
nation
Spanish situation will presently "blow
but there is
that
sort ordi-
we as a
are
is the European situation.
be that the
provided
genuinely funda-
are
further difficulties and work further dam-
up
tem an(j
control but which
cause
of course,
over"
other factors
or no
improvement—always
mental and that by giving them full play
least.
Other Factors
have little
so
the business population which has never fully re-
practically all industry and
over
as
are
it
Exchange Commission stretches
trade.
for the future
pronounces
•
lengthening scepter
On every
Court
season.
The Securities and
now
matter—assuming,
the
that the Supreme
course,
valid in due
a
Certainly nothing need be
power.
expected in the
business
these "fundamental forces"
un-
us.
optimist indeed to count heavily
an
official
recent
but the
The exceedingly
of this year
measure
of
until either
victorious Republican Party
or a
it therefrom.
so con-
recovery
great that nothing in sight is likely to stem the tide
The Holding Company
Act is still the law of the land, and will be
right who feel
the momentum gained
are now so strong and
in-
as
are
fident that the "fundamental forces" of
subsidy policies still flourdefinitely
are
tending to continue them.
removes
earnestly hope that they
regardless of the outcome of the
^
ver~ c^umu atlon °
e 1
Another danger is obviously that of an overaccumulation of debt, even though an industrial
boom does not materialize. There has been an enormous growth of indebtedness, the national governmen^ being the main transgressor, during the lean
yearf that have just passed. Home owners or prosPectbve home owners, and in some sections at least
land speculators, have been succumbing gradually
♦
of late months to the insistent demands of the
govWe Must Face the Facts
ernment that
We have thus sketched the darker side of the
ture, not to discourage the launching of
undertakings at this time, but because
that it would be most unwise at this
mit these factors to be lost for
There
now
are
very
stands
a
believe
juncture to
moment from
real hazards in the situation
which
can
be
wise
any
we
combated
pic-
per-
sight,
as
it
successfully
they add to their burden of debt.
stalment paper has of
course
in volume during the past year
ness
community should
see
Of
course,
or
two.
so
far
as
it would be foolish to
industry and trade
can
direct
of
consequences
The busi-
to it that it does not per-
mit itself to become involved
it.
In-
enormously increased
it
can
prevent
suppose
that
hope to be free of the in-
an
unsupportable burden of
1130
•
Financial Chronicle
Member bank deposits on reserve account advanced
to $6,228,518,000 from $6,116,084,000, while Treasury deposits on general account fell to $215,424,000
It would be well advised' to demand
public debt.
improved business be accompanied by a sharp
reduction in the rate of increase in public debt, and
that
complete discontinuance of that
a
If business recovery
reduction.
from $338,062,000. Foreign bank deposits increased
again to $90,126,000 from $86,438,000, and nonmember bank deposits likewise moved up slightly
increase at the
moment, to be followed by a steady
earliest feasible
is, as
some
suspect,
spending of the
brought to a halt
cessation of such spending, then the sooner we
dependent upon this inflationary
government, and is consequently
by
a
the fact that what 'we
face
are
moving toward is
Aug. 22, 1936
.
disaster, not recovery in any real sense of the term,
the better for all concerned.
to^$251,437,000 from $250,309,000. Total deposits
were a little lower at $6,785,505,000 on Aug. 19,
as against $6,790,893,000 on Aug. 12.
With reserves
higher and deposit and note liabilities hardly changed
at all, the reserve ratio advanced to 79.4% from
79.2%.|^The drop of $1,386,000 in discounts reduced
no
pretense of being able to see into the
feel confident that the careful busi-
vances
executive
ness
will, despite all the encouraging re-
industrial!ad-
such borrowings to $6,477,000, while
we
We make
future, but
off $120,000 to $28,662,000.
Open
market holdings of the 12 banks did not vary in the
were
forecasts of
slightest degree, as bankers' bill holdings
moment, insist upon restricting his capital and
$3,094,000 and United States Government
ports of the day and all the optimistic
the
other
outlays to those that are really required for
what is
business in
hand
and to such
undertakings
or
mitments for substantial
he does
he will not
so
aging his
as
reasonably in
periods in the future.
If
the inevitable consequences
cies
so
far
what he
they can be escaped, but will be doing
as
can
prevent the development of an arti-
to
ficially inflated "boom" to be followed by disaster,
_
n
Corporate Dividend Declarations
will not involve com-
affairs in such a way as to escape
of mistaken public poli-
own
holdings at $2,430,227,000.
sight,
only, in our judgment, be man-
F*\IVIDEND declarations of a very favorable nature
continued to be a feature in the financial world
during the past week. E. I. du Pont de Nemours &
Co. in declaring an extra dividend of 70 cents per
share in addition to its regular quarterly dividend of
90 cents on the $20 par common stock, both to be
paid on Sept. 15, is passing on to its stockholders
the added income received from the
Federal Reserve Bank Statement
held at
security
of General Motors
holdings
company's large
through the
common
INCREASES of reserve requirementsthe last week- reCent declaration of a 75-cent dividend by the motor
effected smoothly and easily over by 50% was
corporation. The Humble Oil & Refining Co. will
;
end, and the only reflection of the change in the
current condition statement of the 12 Federal Reserve
in
banks, combined, is a notation of the decline
reserves
excess
require-
over
that
credit summary remarks
The
ments.
member banks
of
reserve
increased approximately $1,470,000during the week to Aug. 19, causing a decline
pay an
to the
its
extra dividend of 25 cents a share in
common
^end
the
stock
of 25 cents
A similar extra divi-
Oct. 1.
on
share in addition to
per common
of 12H cents will
regular quarterly payment
be made
000
directors of Paraffine Companies, Inc.,
reserves
excess
from approximately
$3,170,000,000
Aug. 19.
This corresponds with a fair degree of accuracy to
the estimate on July 14, when the increase of re12 to about
Aug.
on
quirements
reduce
It
was
$1,810,000,000
announced, that the episode would
reserves
initially to $1,900,000,000.
was
excess
obvious in advance that the
occasion
on
operation would
strain in the banking system as a
no
Actually, hardly
any
find the change more
whole,
individual banks appeared to
than a routine matter of book-
keeping, for borrowings of member banks from the
.Federal Reserve institutions decreased $1,386,000
in the
fails
This
precise situation, as a special
in a drop of discounts by $3,-
week covered
reflect
to
the
transaction resulted
by the current report.
taken into
consideration, therefore, it would seem that member
bank borrowings occasioned by the reserve requireWhen all such
600,000.
ment increase
matters
are
gained about $2,200,000.
rise,
substantial receipts from other nations now
as
reported almost daily.
such stocks
increased
on
extra distribution of 25 cents
an
the company's regular quarterly
per
share
the
on
ments will be made
iast> to $1
on
Oct.
pay a
stock,
a
on
Sept. 26.
In the week to Aug. 19,
by $17,000,000 and another
per
$25,
on
System $30,000,000 of gold certificates, raising
$8,255,038,000
Holders of
on
increased
reserves
738,000.
12 Federal Reserve
banks to
Aug. 19 from $8,225,038,000
to
to
cents
on
Sept#
15;
will be made
stock of Newmont Mining Corp.
larger dividend than previously paid
a
a
as
distribution of 75 cents per share
against 50 cents paid
on
June 15, last.
de-
The directors of Abraham & Straus, Inc., have
cided to double the
common
disbursement
dividend
stock; holders will receive
previously.
a
the
on
payment of
against 45 cents paid
Standard Oil Co. of Kentucky has in-
creased its quarterly
dividend to 35 cents a
common
share from 25 cents; the dividend will be paid on
Sept. 15.
Common stockholders of the Timken-
on
a
share and
an
a
quarterly dividend of
extra dividend of like amount
Sept. 21; this will be the first payment made since
April 1, 1931 when 20 cents
a
share was distributed.
on
$8,550,541,000 from $8,528,-
Federal Reserve notes in actual circulation
up
Co. will
the common
Oct. 1; this compares with 50
common
will receive
(
The ^ew York Stock Market
Cash in vaults fell moderately, and total
Aug. 12.
moved
of the
on
^re paid in each of the six preceding quarters.
25 cents
the
share
per
Detroit Axle Co. will receive
such holdings
Glass
Pittsburgh Plate
dividend of $1.50
of
The Treasury deposited with
its no
on
share; the latter dividend will be paid
The
high record is achieved in the aggregate gold stocks
$10,678,000,000.
dividend
stock from the 90 cents paid on July 1,
1.
par
in addition to
dividend of 50 cents
stock; these payr
Commercial Invest-
ment Trust Corp. has raised the
par common
have also de-
par common
no
90 cents per share on Sept. 30 as
Monetary gold stocks of the country continue to
are
dared
The
Oct. 1 by Kimberly-Clark Corp.
requirements
of
addition
regular quarterly dividend of like amount on
$3,988,055,000 from $3,983,473,000.
A
,
1
_
CONSIDERABLE degree of price irregularity
**
attended the trading in stocks on the NeWiYork
market this week. Small gains and losses were re-
Volume
corded
Financial
143
alternately in the earlier sessions,
while
sharp set-back yesterday finally placed levels
terially under those prevalent
week
a
a
ma¬
ing continuance of the long advance and
profit-taking made its
Affairs in this country admit of
tions,
a
good deal
late this week.
appearance
varying interpreta¬
the generally good trade and industrial re¬
as
ports are offset in part by the harrowing drought of
theJWest and the political campaign.
Foreign de¬
velopments, finally, are distinctly perturbing, since
the
Taking
undoubtedly is growing.
things together, it is hardly surprising to witness
occasional and
Trading
dull
fairly sharp set-backs in stock prices.
the New York Stock Exchange was very
on
during most of the week, but
over
reported yesterday.
was
Changes in the
small and
a
firm tone, but modest
session.
On the New York Stock Exchange
Railroad,
industrial
more
Tuesday
inconsequential,
were
showing
irregular tone.
an
steel, motor and
optimistic
more
and
Thursday, 962,000 shares, and
shares.
last
shares;
utility
were
A number of issues in
the steel and other industrial groups went to
highest
levels of the year, and advances also were recorded
stocks, but utility issues did not
Movements
Thursday
on
toward lower levels.
Rail issues
realizing, and the steel and
but
motor and
demand.
trend
less
active
were
on
the
In the
erally
stocks
also
on
in quiet
were
almost univer¬
was
Losses of
leading issues, while
many
receded
sharply.
•
Dealings
largest scale of the week.
until
yesterday.
high
mand
levels
issues
new
were
for the
noted
was
Corporate
bonds with
until yesterday,
Foreign
dollar issues
a
inaction
closed
the
Monday and Tuesday although prices
on
irregularly higher
stock
market
issuance.
issues
modest
Tuesday.
with
of
advantage that it gained the day before, closing
The trend yesterday
almost
was
General Electric closed
&
Elec.
J. at
yes¬
Friday of last week;
on
Consolidated Edison Co. of N.
Y. at
40% against
20 against
at
21%;
45% against 46%; J. I.
Threshing Machine at 147% against 162; Inter¬
national Harvester at
& Co. at
at
show
Thursday it yielded much of the
terday at 44% against 46%
Case
On Wednesday
some
75% against 80; Sears, Roebuck
79% against 82%; Montgomery Ward & Co.
43% against 45%; Woolworth at 53 against 54%,
and
American
& Tel. at
Tel.
170% against 174%;
Western Union Tel. & Tel. closed
against 87
on
yesterday at 84%
Friday of last week; Allied Chemical &
against 159; National Cash Register at 23% against
24%;" International Nickel at
51% against 52%;
National Dairy Products at 27 against 26;
Biscuit at
National
31% against 32%; Texas Gulf Sulphur at'
36% against 37%; Continental Can at 67% against
68; Eastman Kodak at 178 against
Brands at
178; Standard
14% against 15%; Westinghouse Elec &.
35%; Canada Dry at 14% against 14%; Schenley
of
the
decline
proved somewhat
Distillers at 41 against
at
Well-
firm, while excellent de¬
new
on
on
advanced
States
and ponder¬
week.
speculative tinge did well
a
when
since
Saturday last the market closed
steady in quiet trading but suffered from comparative
22; United States Industrial Alcohol at 35% against
ously, with most of the long-term direct obligations
attaining
dull and irregular
was
gen¬
were
United
Government securities advanced slowly
rated corporate
On
Mfg. at 132% against 141%; Lorillard at 22 against
listed bond market movements
favorable
whole.
Dye at 220 against 236; Columbian Carbon at 123
also dipped,
copper groups
yesterday
points appeared in
the
on
against 127%; E. I. du Pont de Nemours at 158%
sally downward in the equities section.
2 to 5
The stock market this week
much.
vary
quite soft
were
merchandising shares
The
Friday, 364,655 shares.
on
and chiefly
small
were
in
Wednesday,
on
248,570 shares, and
Thursday,
on
the sales
Monday, 170,725
on
Tuesday, 169,400 shares;
on
200,585 shares;
Public Service of N.
Sentiment
groups.
Friday, 1,480,020
on
85,250shares;
42%; Columbia Gas
Small gains appeared in
general in that trading period.
railroad
were
on
Wednesday and gains
on
Saturday
figures
final
with
366,320 shares;
On the New York Curb Exchange
universally downward.
metal
i
the sales at the
Monday they were 832,610 shares; on Tuesday,
790,750 shares; on Wednesday, 1,006,430 shares; on
small
Movements
were
on
irregularly lower.
stocks, but losses predomi¬
copper
nated in the railroad and
was
others.
Saturday last
on
soon
liquidation
unchanged
remained
Exchange
were
slipped slightly lower
stocks suffered
than
Stock
were
Dealings last Monday
made its appearance and levels
the
York
1%.
confidence but
brief session last Saturday
unimportant.
started with
for
increased turn¬
an
1131
half-day session
danger of other nations becoming involved in the
Spanish struggle
all
New
at
Technical
ago.
incidents apparently played a part in determination
of the general trend, for sentiment was mixed regard¬
of
Chronicle
occurred.
28% against 28%.
The
steel stocks,
42%, and National Distillers
.
somewhat irregular during the
week, registered losses all along the line. United States
Steel closed
of
last
yesterday at 65 against 66%
week; Inland
Bethlehem Steel at
Steel at
Friday
on
109% against
110;
59% against 60%; Republic Steel
uncertain,
at
20% against 21%, and Youngstown Sheet & Tube
owing in good part to the unsettlement in Europe.
at
76% against 76%.
Corn
soared
in the
commodity market
indications of immense destruction
on
by the Western
drought, while wheat and other grains also
Other commodities
the
had
foreign exchange
an
York
were
the
touched
touched
point, with the result
new
Other European gold
soft, but sterling and its related
New
new
Exchange
In
market French francs weak¬
found profitable.
were
rencies held firm.
On
firm.
large gold shipments from Paris to New
some
units also
were
irregular tendency.
ened and reached the lower gold
that
further
Stock
Exchange
high levels for the
low levels.
new
year
On the
28 stocks touched
20 stocks touched
of
last
In the mbtor
group,
yesterday at 30% against 30%
Auburn
on
Friday
week; General Motors at 64 against 65%;
Chrysler at 109% against 113%, and Hupp Motors
at
2
against 2%.
In the rubber
Tire & Rubber closed
on
group,
Goodyear
yesterday at 22% against 22%
Friday of last week; United States Rubber at 28
against 30, and B. F. Goodrich at 23 against 23.
The
railroad stocks
again suffered
recessions
this
new
low levels.
were
the close
Pennsylvania RR.
stocks
68
week, and prices in most instances
•
.
York
Auto closed
closed yesterday at
cur¬
while 27 stocks
New
York
Curb
high levels and
Call loans
on
the
last
on
Friday
a
week
ago;
lower than at
35% against 37%
on Friday of
week; Atchison Topeka & Santa Fe at 76 against
84; New York Central at 39% against 40%; Union
Pacific
at
138% against
144;
Southern
Pacific at
39% against 40%; Southern Railway at 19% against
18 against
Oil at
Union
a
costs of
In the copper group,
Anaconda Copper closed yesterday at 36% against
39% on Friday of last week; Kennecott Copper at
44% against 47%; American Smelting & Refining at
80 against 86%, and Phelps Dodge at 36% against
prospects in the leading countries of Europe
were
overshadowed by the international
but
outlook is
favorable trend.
today was estimated by the Amer¬
ican Iron & Steel Institute at
of 2.2
increase
72.2% of capacity,
time
last
Trading on the London Stock Exchange was quiet
of the week, but the tone of the
an
market
points over the figure of 70.0 noted
Production
year.
of
electric
energy
freight in the week to Aug.
This is
reports.
15 totaled
increase of 8,204 cars
an
the
-
indicating the
September
closed
close
corn
mand.
close
The spot
of last
Friday
yesterday
week.
against 12.41c., the close
The
price
spot
Domestic
week.
yesterday at 9%c., the same
as on
London the
In
19 3-16 pence
ounce
Friday of previous
New
York closed
trial stocks.
the
transfers
as
pence
matter
on
of
«as
against
Gilt-edged issues were dull
done
was
were
the Paris
on
soft.
Bourse,
and the
disconcerting international developments.
per
Interest
charges
on
the mid-month settlement were fixed at
not encourage
cable
foreign exchanges,
London closed
at!6.58 7-16c.
Anglo-
2%, against 2%% at the end of July, but this did
on
on
flected
Friday of last
and most French
Paris closed yesterday
trend
6.58 9-16c., the close on
balance
a
various
between
Tuesday
was
equities also re¬
supply and demand, but
international issues
on
Rentes were
traders to any degree.
well maintained
yesterday at $5.03 3-16,
against $5.02 13-16, the close
week, and cable transfers
recede.
Monday, owing to the holiday influences
week.
the
to
International securities
business
Little
yesterday at 44%c., unchanged
from Friday of last
In
against 19%
noted
yesterday, but good demand was noted for indus¬
price of bar silver yesterday was
per ounce, as
tended
also
reports from New York.
closed
Friday of last week; and spot silver in
on
was
trading favorites improved on optimistic
American
weeks.
•
issues
ternational
for rubber
copper
Continued firmness
stocks, but home rails were uncertain, and most in¬
on
16.12c. as against 16.31c., the close
was
Friday of last
on
as
were subjected to
securities tended to
issues
some
Thursday in British funds and in most industrial
price for cotton here in New York closed
yesterday at 12.03c.
de¬
most industrial
in
reported
International
drift to lower levels.
Friday of last week.
op
although
were
profit-taking.
Chicago closed yesterday at 43%c. against 42%c.,
the
Gains
stocks,
September oats at
Friday of last week.
favorites
The tone was cheerful on Wednes¬
day, with British funds and home rails alike in
at Chicago
yesterday at 112%c. as against 107%c., the
on
section and Spanish is¬
advanced in the foreign
hardly varied.
against 110%c., the close
as
Friday of last week.
on
noted in home rails
securities. Gold min¬
sues-declined, but Anglo-American trading
September option for wheat in Chicago closed
yesterday at 113%c.
were
also
advances
and
firm
sues
of the commodity markets,
course
discourage
remained
ing stocks continued to improve, while base metal
shares drifted lower on profit-taking.
German is¬
previous week and of 122,492 cars over the same
week in 1935.
to
funds
But British
and in most British industrial
the
over
full swing and
tended
position
commitments.
fresh
the Association of American Railroads
cars,
international
the
•
736,497
Tuesday was re¬
on
stricted, as the holiday season is in
Carloadings
corresponding week of last year.
Activity
uncertain trend.
an
securities disclosed
results, but international
fair
15, the Edison
This compares with 2,079,-
149,000 in the preceding week and with 1,832,695,000
revenue
stocks also showed modest improve¬
ment, while most industrial issues resumed the ad¬
vance of recent weeks.
Gold-mining stocks showed
928,000 kwh. in the week to Aug.
in the
firm. British funds were well supported
was
and home rail
throughout the United States amounted to 2,093,Electric Institute reports.
but the French sit¬
uncertain.
in the initial session
week, and far above the level of 48.8% at this
As
reported ill nearly all important fields.
uation is somewhat
Steel making
for the week ending
quite optimistic, as increasing pro¬
Germany also reports progress,
important trade and industrial indices
difficulties,
encouraging as a rule. The Brit¬
they remained
ish
duction is
a
of
production in the Reich. Trade and indus¬
trial
38%.
Most of the
partly because of the increasing
tional situation and
Refining at 27 against 28.
last
small scale. The Berlin Boerse suffered a
shake-out, partly because of the interna¬
very
drastic
18%, and Atlantic
continue to reflect
trading on
alternately upward and downward, with
24% against 26%.
Among the oil stocks, Standard Oil of N. J., closed
yesterday at 61% against 63% on Friday of last week;
20%, and Northern Pacific at
Shell
Aug. 22, 1936
Chronicle
Financial
1132
dropped sharply.
The
toward lower levels in al¬
most all
departments of the French market. Rentes
declined
Friday of last week.
only a little, but bank and industrial stocks
dipped sharply and international securities likewise
European Stock Markets
soft.
were
to
PRICE European financial centers in highly ir¬
the lead¬
ing tendencies on stock exchanges
would
were
Recovery followed
Spanish conflict.
certainty regarding the outcome of the Spanish
also
bellion and the
of that
ing
over
tion of
That another
war scare
Europe is evident enough, and
is
the reactions to such
stricted
a
and
pos¬
nations
Rentes improved,
and
advances
issues, while
obligations held to former figures. The
though changes
a resump¬
other
noted in bank and industrial
upward tendency
sweep¬
gold shipments from Paris to New York is
sufficient commentary on
were
international
possible international complications
struggle.
Wednesday, owing
that
support the French plea for neutrality in the
regular this week, owing mainly to the universal un¬
re¬
on
impression
momentary
a
was
were
resumed
small.
on
Trading
Thursday,
was
al¬
on a re¬
basis, with rentes uncertain, while bank
industrial
issues
slowly
improved.
Interna-
*
The London market
sibilities.
was
well
insulated
against the war scare by a genuine neutrality
on
the
tone
part of the British Government, and
was
noted in most sessions
Exchange.
Movements
on
on
a
move
firm
the London Stock
the Paris Bourse
were
tional securities
a
were
soft.
Rentes drifted lower in
quiet session yesterday, but other departments of
the market showed little
After
a
hesitant
Boerse turned
change.
opening
soft and the
on
Monday, the Berlin
declining tendency was
Volume
143
Financial
maintained almost all week.
pronounced only in
Initial recessions
Chronicle
American Foreign Policy
IN A NON-POLITICAL address of
outstanding im¬
possibly will be affected by the steady additions to
production costs in the Reich. Good support was
extended the market
on
Monday, and declines
leading industrial firms.
of
reduced
profits
Some distress sales
by
were
reported, and prices fell 2 to 3 points in foremost
speculative issues.
steady.
Wednesday,
toward
were
Fixed-income obligations
The downward tendency
but
the
buyers
close
and
mostly fractional.
into
came
net
w;ere
resumed
was
the
on
market
changes for the session
Chemical stocks and util-
ity issues showed the largest losses. Trading was on
a
very small scale, Thursday, and losses again predominated.
ranged
Recessions in leading speculative stocks
to 2 points, owing chiefly to the strained
up
relations
steady.
with
Spain, but other issues
The declines again
yesterday.
Recessions
were
were
fairly
were
extended at Berlin
precipitate
in
1
somfe
portance, President Franklin D. Roosevelt late
iag^ week reviewed the
were
mostly fractional in that trading period. Weakness
was general on
Tuesday, owing to the international
developments and the fear
Oration
A
.
,
for maintenance of
countries.
WHAT promisesbytothe
be
a Pyrrhic victory has
States Govern-
won'
ment in its trade
United
dispute with Germany.
been
The diplo-
the trade relations of the two
tries, and the resultant diminution
have
of
inflexibility of
notification
coun-
commerce,
regularized through recognition
Reich of the
by the
was
our
Tariff Act.
Official
.received in Washington, late last
week, that the German Government would haft all
subsidies
on
and would
marks.
issued
products exported to the United States
permit the
use
Accordingly,
order
an
the
Treasury
German
that
they would prohibit the
tailed
accounting given
will
be
authorities
measures
use
daily contacts with all
iess cheerful
than about
It
removes
gold and foreign exchange
restricted
the Reich
resources
apparent
has been
decidedly in
■
our
reluctance
in
imposing
the
countervailing duties called for by the Tariff Act
1930, for the German trade measures clearly were
designed mainly to offset the currency differential
our own
devaluation of the dollar in
The German-American trade
affords
an
dispute and its
excellent illustration of the
evils that flow from such needless
currency
ing
as
was
European
a
Western tour
tampervisited upon the United States by the
New Deal.
in
was
pro-
countries, but to all nations of the world,
It is in the Western
Hemisphere, however, that the
practical results of the policy
The long,
States
and
Canada
peace and to
is
"the
in evidence,
are most
unguarded frontier
between the United
noblest
monument
to
neighborly economic and social friend-
ship in all the world," Mr. Roosevelt proclaimed,
The mutual trust
exemplified by that border will be
throughout the Americas, he said.
speech,
are
Some
toward that end, and
the Pan-American
con-
embodying the principle of non-intervention,
a
of
the
Piatt
amendment
new
in
Cuba,
Haiti, signa-
treaty with Panama, and the long
reciprocal trade treaties.
The determina-
Republics to maintain friend-
will again be manifested at the Pan-
peace
Dec. 1 at
convene
Aires, Mr. Roosevelt added,
But peace
years our trade
of
consequences
the
clear that the program applies not only to Latin
aim of his
avail-
relatively modest takings of German wares,
may be added that the United States Treasury
by
Tuesday to curtail
American conference which is to
closely to the total of German
For many
It
prospects.
keep in instant touch with foreign affairs,
American
Buenos
imports from the United States hereafter
occasioned
conditions
effect? the President stated? and he made it
ship and
the American
our
1934.
world
immediate domestic
tion of the American
Reichsbank, it is highly probable that
with
difficult situa-
mind, and it is significant that he de-
last
order to
more
more concerned and
about international
our
troubles in
eided
series of
favor, and the newest development plainly signifies
simple reduction of the trade volume to a level based "
acted
of
manner
all the
Because of his
obvious that Mr. Roosevelt had
was
ture of
of Aski and other
entirely, but in view of the small
exports to this country.
on
was
withdrawal of American marines from
previously had indicated
Treasury order
balance with
Aug. 14
on
tions, the President said, he is
.
German
speech delivered
Chautauqua, N. Y., is all too
appropriate in these circumstances.
abandonment
on
ex-
the United
States, and the original restrictions of
July 11 had been modified by Treasury order to
some
degree.
total of
the
on
foreign policy have been made
by ^j;r> Roosevelt for more than a year.
The de-
vention
types of registered marks in payment for exports to
able to the
of
apparent, and it is to be noted, moreover, that only
mentioned in the
counter-
quantity by the Reich to this country,
The
punitive
at
of the practical steps taken
Department
Aug. 14 removing the
on
vailing duties of 22% to 56% imposed July 11
a dozen important items of merchandise
The latest
peaceful relations with all other
timeliness
brief statements
extended
in that trade only of free
nearly
ported in
The
by the President
.g ^
on
of the United
claimed in Mr. Roosevelt's inaugural address still
_
German-American Trade
tangle
foreign policy of his Admin-
promised the people
p0pcy 0f the good neighbor which
I.
-
matic
and
states that his utmost endeavors would be exerted
leading stocks.
been
,
were
few speculative issues, which
a
1133
*
in the Western World is not the sole
policy, the President continued.
"It is
hope," he said, "that knowledge of. the practical
application of the good neighbor policy in this hemiour
sphere will be borne home to
the
seas.
For
necessity,
we are on
in
them—terms,
friendship,
neighbors
our
ourselves,
cases,
of
most
peaceful
we are
of
across
good terms with
straightforward
understanding.
But, of
deeply concerned about tendencies
of recent years among many of the nations of other
continents.
the
It is
bitter
experience to
spirit of agreements to which
not lived up to.
It is
an
even
we
more
are
us
a
when
party is
bitter experi-
for the whole company of nations to witness
ence
not
a
only the spirit but the letter of international
agreements violated with impunity and without re¬
gard to the simple principles of honor." The efforts
made
by this country to contribute toward
a
general
disarmament
treaty and naval limitation pacts were
recalled briefly.
But it remains the policy of the
United States to avoid entanglement in
foreign wars
and any connection with the political activities of
the
League of Nations, he declared.
We
are
not iso-
lationists, however, except in so far as we seek to
isolate ourselves completely from war, the President
"We ask no territorial
imperialism.
We
ments.
We oppose
who wish
our
We offer to every nation
handclasp of the good neighbor. Let
of the world the
and take
expansion.
We desire reduction in world armabelieve in democracy; we believe in free-
dom; we believe in peace.
those
other nation," he
"We seek to dominate no
stated.
said.
Aug. 22, 1936
Financial Chronicle
1134
our
friendship look us in the eye
hand."
Recalling the fearful
experiences and results of
President Roosevelt remarked that war in another continent nevertheless would find thousands
war,
who, seeking immediate riches, would
of Americans
attempt to break down or evade our
argument that the supply of war
neutrality. The
materials would
who swept north* in an attempt to join with the
forces of General Emilio Mola, and by the detachments along the northern coast. General Franco led
his mixed forces of Spanish and Moroccan troops
northward from the Gibraltar area in a determined
endeavor to establish contact with General Mola's
men and then veer eastward toward Madrid. He
made rapid progress through the Province of Badajoz, which seemed to be friendly to the fascist
cause, and on Monday took the City of Badajoz, where hundreds of loyalists were massacred,
Some reports state that contact with General
Mola's troops actually was
established by the leader
of the southern rebel forces, but others dispute this
point. In any event the move on Madrid once again
was
delayed, this time in order to consolidate the
captured territory in the south and to extend the
ized, he said, and pleas would be made for the extenarea there. On the Basque coast, to the north, the
sion of credit on the ground that such credits would
loyalists were battered by rebel attacks, but they
be used in the United States to build homes and
held their ground. The irregulars of the Left Front
factories and pay our debts.
"It would be hard to
actually captured some positions held by the rebels
resist that clamor," the President warned.
"It
near San Sebastian and Irun, late last week, and the
would be hard for many Americans, I fear, to look
rebels tried to offset such gains by a naval attack
beyond—to realize \the inevitable penalties, the inagainst San Sebastian. The few vessels of the Spanevitable day of reckoning that comes from a false '< ish navy that joined the rebels were employed in
prosperity. To resist the clamor of that greed, if
this maneuver, which came to naught when the land
war should come, would require the unswerving supfortresses finally replied to the fire on Tuesday and
port of all Americans who love peace.
If we face
put some of the ships out of commission. Loyalists
the choice of profits or peace, the Nation will
threatened to kill hundreds of rebel hostages in San
answer—must answer—'we choose peace.'
It is the
Sebastian if the warships fired on that port, but disduty of all of us to encourage such a body of public
patches conflict as to whether such threats were
opinion in this country that the answer will be
put into execution. In Madrid an attack^from rebel
clear and for all practical purposes unanimous."
troops in the Guadarrama Mountains was considunemployment doubtless
minimize
would be util-
v
ered
Spanish Rebellion
ALTHOUGH the more war ina Spain now has been
civil than month, it remains
in
i
progress
impossible to predict with any degree of accuracy
the
outcome
From the
desperate conflict.
the
of
viewpoint of effectiveness, the loyalists forces of
the Madrid
regime and the rebel battalions of Gen-
eral Francisco Franco appear
for the
time
to be evenly balanced
The battles waged in a wide
being.
capital favored the rebel cause here
arc
about the
and
there, and the loyalists in other places.
Both
appeared to settle down this week to a long-
sides
drawn
conflict,
which the extreme bitterness
in
already felt probably will be enhanced.
national
In its inter-
aspects the Spanish struggle assumed very
grave appearances on
The possi-
several occasions.
bility of Italian intervention in favor of the fascist
rebels loomed for
a
time, when Rome reports de-
clared that the vast Italian air fleet was
city#
Some interesting and indicative items of informa-
tion have been made available as to the Spanish conflict, and they are set down here for what they are
worth. An Associated Press report from Madrid
that was sent by courier to France in order to avoid
the censorship discloses that approximately 80%
of the regular Spanish forces of 235,000 men have
joined the rebellion. The Left Front Government
is fighting these antagonists with a hastily recruited
militia of 500,000 men and women, who are mostly
raw recruits.
In various dispatches it was indicated this week that the loyalists frequently disregard the orders of their officers and make their own
decisions as to movements. An uncensored Gibraltar dispatch to the New York "Times" reveals, on
the other hand, that the insurgent army is unpaid,
which brings up the question of the resources available
to
It
side.
either
would
that the
appear
Italian authorities
Madrid Government has rather the best of it in that
light of such reports, without denying that the
connection, for it controls the large gold stocks of
in readiness for instant action.
made
being held
made to
imminent, and all preparations were
defend the
air force is
being held in readiness.
lomatic incident
ships stopped
a
developed when loyal Spanish war-
German merchantman outside terriThe French
torial waters.
A delicate dip-
move
for
a
general
neu-
Under pressure from the extreme
Spain.
herents,
who
are
most
Left ad-
active in supporting the
Madrid regime, church property in Spain steadily
lg being confiscated, and considerable
additions to
Succumbing
Madrid Government
ordered further steps toward the socialization of
trality agreement met no success, and the practice
the loyalist resources have resulted.
of
to
supplying
tinued
arms
to one side or the other was con-
by most European nations.
finally took decisive steps
to
on
Great Britain
Wednesday, however,
prevent the dispatch of British war materials or
airplanes
to
the
made in several
the
been
dispute,
combatants.
Suggestions
were
quarters for American mediation in
but such proposals fortunately have
more
indicative
battles
in
the
war
were
fought this week by the rebels in the south of Spain,
Left
the
pressure,
dispatches
industry.
Barcelona
Catalan
Government is
secession
from the
regime set
there
up
rest
state
that
the
moving steadily toward
of Spain,
and
any
new
doubtless would be extreme
Left in tendency. '
International complications of the Spanish revolt
disregarded in Washington.
The
the
are
numerous
some
cases
and difficult to assay, for
are
reports in
flagrantly contradictory.
Almost
Financial
Volume 143
all
governments concerned
French
now
have replied to the
plea for general neutrality, but the reserva-
tions made
probably
by Italy and Germany, and
other
nations, too, have prevented
move
is
by
application
of this principle.
The British Government, well
informed as to the course of such discussions, hinted
broadly early this week that the non-intervention
after
vigorously toward real neutrality,
reports of last Saturday indicated that three
British
airplanes
downed
on
intended
French
for
territory.
rebels
the
The first
mhde last Saturday, consisted of
move,
to all Britons that the
materials
On
But the British Govern-
simple failure.
a
ment itself moved
any
were
British
warning
a
supply of airplanes or war
necessarily
might
embarrassing,
prove
Monday the London authorities halted the dis-
patch of
for the
number of airplanes believed destined
a
Spanish rebels.
This
was
followed, Wednes-
day, by an embargo on all shipments of
terials to
Spain and by
a
ma-
war
warning that pilots mak-
ing unauthorized flights to Spain would lose their
So far
licenses.
aim of real
Great Britain is
as
The Italian attitude toward the
remains
in
concerned, the
neutrality thus has been realized.,
disconcerting.
Rome reports
Tuesday,
on
telling of the readiness of Italian air forces, indi-
cated that
Premier Mussolini would openly help, the
Spanish rebels if France continued to aid the Left
Front
regime in
course,
whether any
Madrid
Madrid.
open
It is questionable,
such
any
handicaped the French neutral-
It is well known,
ity endeavors.
considerable unofficial
that
of
aid has been extended to
by the Paris Government, for
action would have
the other hand,
on
to
aid
both
sides in
Spain has been rendered by sympathizers in France,
The German Government took
but
exceedingly stiff
an
diplomatically correct attitude, . Thursday, rea search by loyalist Spanish warships of
garding
the German merchant
ship "Kamerun," the previous
The Berlin authorities warned that German
day.
warships would meet
seas
with force.
any
such action
Berlin reports
the German
attitude toward
the high
of Thursday stated
that the Italian Government had made
to
on
a
inquiries
as
possible Italian
occupation of the Balearic Islands, to which the
German Government made the
"would-have
no
interest in
a
In some quarters it is assumed that this
regulations than have heretofore been issued by the new Paris regime. Of interest, in this connection, was the first general meet*
ing at the Bank of France, Tuesday, of the democratized Council of Regents 'of that institution,
Governor Emile Labeyrie, who presided, made it
clear that the Blum Government intends to subordinate the bank completely to State control,
"You will help us to make it understood throughout
working France," he said, "that when we resist
with regret certain demands which seem to their
makers to be perfectly reasonable, it will be because
we are imperiously commanded to do so by concern over the general interest."
The Parliament that enacted the new Bank and
many ''other "reform" bills adjourned for the sumnier late last week. Premier Blum, in a final address before the Chamber of Deputies, asserted
with evident satisfaction that his People's Front
Government had made good its promises by enacting measures for revision of the previous deflationcurrency.
presages more drastic
ary program.
Spanish conflict
cryptic reply that it
The bills mentioned include the pro^
visions for the 40-hour week, collective labor contracts, paid vacations in industry^ reorganization of
the Bank of France, nationalization of war indi¬
tries, raising of the school age for children, and a
general amnesty decree.
The appropriateness of
this program is for the future to judge, but in the
meanwhile it would appear that the accom^lishments are not especially heartening. "Instead of
improving, business has. tended to slacken, during
the holiday season at least," a Paris dispatch to the
New York "Times" remarks.
Uruguay
on
was
London
lessened
"correspondingly.
was
Tuesday to take the lead in
for mediation between the
shops
change Of the status
Government
States
United
are more
shut in Paris and more employees on holiday than
before, but the reason behind this luxury of
vacation is not prosperity, but the absence of any
buying public. The government's baby bond issue
has not proved to be an enormous success, as was
hoped. It has done moderately well, but not well
enough. On the other hand, the weekly reports of
the Bank of France have been favorable, and during
the next two months, during which Parliament will
be on vacation, it is likely to be revealed whether
finance is going to command the situation or be lts
servant."
Russian Plots
depart from Spain in numbers, and the possibility
of further "incidents"
"There
ever
Neutral nationals, meanwhile, continued to
quo."
The
1135 !
Chronicle
urged
by
a movement
loyalists and the rebels,
IPLING'S comment that "East is East, and
1Y
West is West, and never the twain shall meet"
receives complete confirmation in a Moscow trial
of 16 prominent Russians, charged with plotting the
death of Dictator Joseph Stalin and many other
leading Communists.
The existence of this plot
British Government also believed the United States
announced at Moscow
on
the "best
received with reserve in Western countries, for
"plots" against the Communist regime in Moscow
dispatches of Wednesday suggested that the
qualified" mediator.
and suggestions
fell
deaf
on
But all such urgings
ears
in Washington.
nave
p
r ranee
ACTIVITIES
headed
of
the
kets,
ments
as
of
France.
French
Socialist
regime
in all financial
mar-
the next international currency developimportance may very well originate in
Efforts
by
was
news was
coincided on previous occasions with internal
difficulties that the Soviet authorities seemed bent
by Premier Leon Blum continue to
attract the closest attention
Aug. 14, and the
Finance
Minister
on
overshadowing.
But it
that the Soviet charges
was
on
rapidly made evident
this occasion had
an
ample basis in fact, or at any rate in the psychology
of the Russian people.
The Soviet charges were
directed chiefly against the exiled former War Corn-
Vincent
missar, Leon Trotzky, who is making his home at
improve the position of the franc through
repatriation of balances sent abroad in recent years
present in Norway.
They also involved Gregory
Zinovieff and Leon Kameneff, who also held power
,
Auriol to
are
proving fruitless.
The franc suffered
a
further
sinking spell this week, and gold had to be made
available in
considerable amounts to support the
in
former years,
together
with 14
enemies of the current regime.
other
alleged
Mr. Trotzky was
charged officially with sending agents into .Russia
Financial
1136
BANK OF
against
latter faction were
that
tale
The
placed
was
on
Although their admissions
clearly foreshadowed the death penalty,., Zinovieff,
Kameneff and the other accused terrorists not only
Circulation
deposits
Public
Other deposits
Bankers' accounts.
Other account
securities
Governm't
Other securities
Disct. <fc advances.
ecurities
guilt, but vied with each other in
admitted their
sensational disclosures of their plans for
prominent leaders
up
363,881,576
444,539,000 400,440,360 379,370,305 374,555,938
23,561,000 15,902,035 37,393,340 32,242,854 22,203,001
135,923,599 130,797,834 117,801,210 132,944,551 114,375,557
95,965,825 93,897,881 82,099,542 90,543,220 79,946,387
39,957,774 36,899,953 35,701,668 42,401,331 34,429,170
86,408,310 83,489,999 84,504,709 84,905,963 71,278,993
30,958,985 27,953,636 16,054,392 21,540,809 32,775,748
5,770,557 10,059,544 13,265,850
9,677,449 12,951,832
21,281,536 15,001,804 10,283,835 11,481,265 19,509,898
60,322,000 53,468,951 72,846,622 76,941,982 50,714,286
244,862,378 193,909,311 192,216,927 191,497,920 139,595,682
37.80%
nk rate
36.44%
46.93%
2%
to liabilities
2%
2%
....
Some of the statements
regime.
while other speakers declared that
former associate of Lenin was innocent
1934
Proportion of reserve
assassinating Stalin and other
of the Communist
coin
Reserve notes &
Coin and bullion
Aug. 24,
1932
Aug. 23,
1933
Aug. 22,
Aug. 21,
1935
Aug. 19,
1936
trial Wednesday.
unfolded in the public hear¬
ings is extraordinary.
piling
STATEMENT
ENGLAND'S COMPARATIVE
the Soviet with the aid of the
Zinovieff-Kameneff faction, and all members of the
work
to
1936
22,
Aug.
Chronicle
.46.57%
2%
37.13%
2%
Bank of France Statement
involved Trotzky,
exiled
the
of the entire affair.
remarked, was "perfectly in¬
"Times"
York
New
The story, a dispatch to the
~
Zinovieff and Kameneff sprang
confirm it." The
rate, has been nipped in the bud, and
credible, except that
eagerly to their feet to
almost
plot, at any
9
obviously
is
there
likelihood that the Soviet
no
such adversaries.
regime will topple from
*
..
,
THEREdiscount rates of
have been no changes during the week in
of the foreign central
the
any
Present
banks.
shown in the
the
at
rates
leading centers are
Effect
Date
Established
75.68% last year and 80.23% the previous year.
register a contraction of 548,-
total outstanding down
Other items which show
decreases include credit balances
abroad, French
commercial bills discounted, bills bought abroad,
advances on treasury bills and advances against
84,360,335,440 francs.
Mar.
Austria
Batavia
4
July
July
Belgium
Bulgaria
2
May 15 1935
6
■Canada
2^
Aug. 15 1935
Mar. 11 1935
4
Jan.
24 1935
4
July
18 1933
Chile
.
10 1935
1 1935
21 1935
5
Oct.
Denmark..*
3H
England...
2
Aug. 21 1935
June 30 1932
Danzig
,
5
(Estonia
Sept. 25 1934
4 1934
|
Finland....
4
Dec.
France
3
4
9 1936
Sept. 30 1932
7
Oct.
Germany
._
Greece
July
13 1933
July
164,000,000 francs and in temporary
of
925,000,000 francs. We furnish
comparison of the different items for three
years:
BANK
STATEMENT
FRANCE'S COMPARATIVE
OF
6 1936
Hungary.
4
3
Nov. 29 1935
Ireland
3
June 30 1932
Italy
4^
Changes
Aug. 28 1935
India
May 18 1936
6 1936
Apr.
7
._
_.
3.20
Japan
Jugoslavia
.
Morocco...
Gold holdings
June
2 1935
Credit bals. abroad,
Feb.
1 1935
a
5H
July
1 1936
6H
May 28 1935
b Bills bought
3H
c
Norway
2H
2)4
5)4
4^
Poland
5
Portugal-
5
Dec.
13 1934
3%
Dec.
7 1934
South Africa
4
Spain
5
July
5
Sweden
2H
7)4
Switzerland
2M
...
Rumania
Aug. 16. 1935
Aug. 17, 1934
Francs
France
Francs
—140,763,701 54,847,875,214 71,661,243,020 81,317,828,261
12,851,214
7,787,174
13,068,335
—4,000,000
French commerc'l
abr'd
Adv. on Treas.bills
Adv. agst. securs—
Note circulation
Cred.
—49,000,000
—2,000,000
discounted.,
bills
May 23 1933
Oct. 25 1933
Aug. 14,1936
Francs
.
5
6
for Week
■>
4H
Java
5
1 1936
Jan.
Rate
4
Czechoslo¬
3
vious
4*
Lithuania..
vakia
Date
Established
3
Holland
1 1936
3H
3H
Argentina..
Colombia.
Effect
Aug 21
Rate
a
creditor current
An increase appears in
securities.
Pre¬
Rale in
Country
vious
Aug 21
54,847,875,214
Notes in circulation
advances to state of
FOREIGN CENTRAL BANKS
Pre¬
Rate fn
to
The reserve ratio is up
below
Country
down
with 71,661,243,020 francs a
and 81,317,828,261 francs two years ago.
slightly to 59.17%, as against
year ago
accounts
table which follows:
DISCOUNT RATES OF
total
the
brings
francs, in comparison
to
-
of Foreign Central Banks
Discount Rates
loss
a
which
000,000 francs, bringing the
A-
-
THE statement forholdings ofended Aug. 14francs,
in gold
the week 140,763,701 shows
curr.
accts...
May 15 1933
10 1935
d Tem.adv. to State
Deo.
1 1933
hand to sight Uab.
May
2 1935
—925,000,000
—35,000,000
—548,000,000
+164,000,000
+ 925,000,000
5,627,747,507 6,051,449,713 3,460,482,077
1,248,570,542 1,229,322,000 1,124,980,081
6,766,205,448
3,480,221,521 3,189,795*061 3,10"7~,84b"86l
84,360,335,440 81,064,005.535 80,470,339,760
8,330,651,186 13,621,839,510 20,884,891,614
7,567,218,000
Propor'n of gold on
75.68%
59.17%
+0.09%
80.23%
purchased In France,
b Includes bills discounted abroad,
c Previously
included in French commercial bills discounted,
d Representing
drafts of Treasury on 10-blIlion-franc credit opened at Bank.
a
Includes
bills
Foreign Money Rates
Bank of Germany Statement
shows
increase in second bullion of August
IN bills Friday were 9-16%, as against 9-16% on THE statement for the gold andquarter of 319,000
LONDON open market discount rates for short
an
on
9-16% for three months' bills
of last week. Money on
Friday was }^%.
At Paris the
Friday of last week, and
as
against 9-16% on Friday
call in
open
at
London
on
33riz% amd in Switzerland
market rate remains at
2J£%.
'
.
marks.
aggregated 94,-
marks, bringing the total up to 72,411,000
Gold the
same
period
a
year ago
662,000 marks and the year before
74,964,000 marks.
ratio, at 1.83%, compares with
The Bank's reserve
1.80% the previous quarter and 2.68% a year ago.
register a further loss, this time
'
Notes in circulation
Bank of
60,000,000 marks, bringing the total
of
England Statement
THE. statement forgold holdings of £851,130, shows
further gain in the week ended Aug. 19 which
a
raises the total to
another new high of
£244,862,378,
£193,909,311 a year ago. As the
bullion gain was attended by a loss of £5,745,000 in
circulation, reserves rose £6,596,000. Public deposits
increased £6,143,000, while other deposits decreased
£46,807. The latter consists of bankers' accounts
in
comparison with
which fell off
rose
ties
£2,024,056, and other accounts,
government securi¬
ties decreased £3,205,000 and those on other securi¬
ties increased £2,729,655. Other securities consists
of "discounts and advances" and "securities" which
increased £738,595 and £1,991,060 respectively. The
and
36.44% last year. Loans on
discount rate
furnish
a
Below we
comparison of the different items
several years:
remains unchanged at 2%.
to
years:
REICHBANK'S COMPARATIVE
which
£1,977,249. The proportion of reserves to liabili¬
is now 37.80%, compared with 35.00% last week
for
outstanding
4,241,883,000 marks.
Circulation last
yeai stood at 3,717,194,000 marks and the previous
year at 3,594,312,000 marks.
Reserves in foreign
currency show- hn increase of 277,000 marks and
advances of 3,253,000 marks.
Decreases also appear
in bills of exchange and checks, in investments and
in other daily
maturing obligations.
Below we
furnish a comparison of the various items for three
down
STATEMENT
Changes
Aug. 15, 1936 Aug. 15, 1935 Aug. 15, 1934
for Week
Reichsmarks
Gold and bullion..
Of which depos. abr'd..
Ree've in for'n currency
Bills of exch. & checks.
Silver and other coinNotes on oth. Ger. bks.
Advances
Investments
......
Other assets
Reichsmarks
Reichsmarks
Reichsmarks
74,964,000
94,662,000
72,411,000
16,973,000
29,629,000
24,524,000
3,296,000
5,285,000
6,435,000
+277,000
—207,838,000 4,306,428,000 3,649,532,000 3,266,234,000
270,389,000
199,601,000
al37,456,000
*
13,328,000
11,830,000
72,602,000
34,955,000
46,893,000
+3,253,000
727,053,000
530,672,000
663,056,000
—283,000
621,412,000
a573,248,000
669,281,000
+319,000
No change
Y Liabilities—
Notes in circulation
Oth. daily matur. obllg.
—60,000,000 4,241,883,000 3,717,194,000 3,694,312,000
660,443,000
639,810,000
763,276,000
-68,742,000
Other liabilities
Propor'n of gold & for'n
curr. to note circul'n.
*
Validity of notes on other banks
latest
available.
8216,283.000
226,548,000
171,726,000
1.83%
2.68%
2.18%
explred.March 31, 1936.
a
Figures of July
31.
Financial
Volume-143
New York
1137
Chronicle
Course of Sterling
Money Market
Exchange
the
exchange
market in and
relatively
INCREASE of reserve requirements last Satur¬ STERLING New York entire foreign quiet, with
by 50%,
effected
of
of business
are
the close
as
day, failed to occasion any changes whatever in the
sterling ruling
New
June.
York
money
continued from last week in all
market, and the
lessened to
Rates were
departments of the
market this week.
pressure
of available funds was not
Bankers' bill
appreciable extent.
any
and commercial
dealings were in small vol¬
paper
although the supply of some types of paper
ume,
Call loans on
recently has increased moderately.
Stock Exchange
the New York
held to 1% for all
transactions, whether renewals or new loans, while
time loans
Monday
1%% for all ma¬
The Treasury sold last
to six months.
further issue of $50,000,000 discount bills
a
due in 273
average
offered freely at
were
turities up
days, and the awards were made at an
of 0.194%, computed on an annual bank
discount basis.
Sterling is in greater demand than any
July 19.
on
New York
Money Rates
and there is a steady movement of
other currency
foreign funds into London for safety and investment.
All seasonal factors still favor sterling
that
seem
Stock Exchange from day to
the
on
day, 1% was the
The market for time money is
having been
reported this week. Rates continue nominal at 134%
for all maturities.
The market for prime commercial
still
at
standstill,
a
transactions
no
has been very active this week.
Paper has
been coming out in fairly large supply and the demand
has been strong.
Rates are %% for extra choice
names running from four to six months and 1% for
paper
less known.
names
Bankers' Acceptances
and it would
the
received
largest
Were it not for a
funds into American
considerable movement of foreign
securities, it is conceivable that sterling might be
firmer than
even
dollar.
The
with
present quotations in terms of the
been
with
a
between
been
has
week
this
range
$5.03^ for bankers' sight bills, com¬
$5.02 9-16 and
range
a
of
between
$5.02 3-16 and
transfers
between
The range for cable
$5.02^ and $5.03J^, compared
of between $5.02J4 and $5.02 15-16 a
range
week ago.
ruling quotation all through the week for both new
loans and renewals.
has
Britain
Great
share of tourist traffic this year.
has
with call loan rates
Spanish rebellion
the outbreak of the
market since
$5.02 13-16 last week.
iEALING in detail
has been no
respects there
change in the general aspect of the foreign exchange
pared
.
at the highest prices since
on average
all essential
In
following tables show the mean London check
The
rate
Paris, the London open market gold price,
on
and the
price paid for gold by the United States:
MEAN LONDON CHECK RATE
.ON PARIS
Saturday, Aug. 15
76.363
Monday,
76.323
Thursday,
76.331
Friday,
76.446
76.462
76.403
Wednesday, Aug. 19
Aug. 17
Tuesday, Aug. 18.
.
Aug. 20
Aug. 21
LONDON OPEN MARKET GOLD
PRICE
138s. 4d.
Wednesday, Aug. 19
138s. 5d.
138s. 4d.
Saturday, Aug. 15
Monday, Aug. 17..
Tuesday, Aug. 18
Thursday,
Aug. 20
Aug. 21
Friday,
PRICE PAID FOR GOLD BY THE UNITED
138s. 2d.
138s. 2J£d.
138s. 3Kd.
STATED (FEDERAL
RESERVE BANK),
THE market for prime bankers' The demand has
acceptances has
good this week.
been very
been
but bills are scarce.
Rates show no
Official quotations, as issued by the Federal
Bank of New York for bills up to and includ¬
strong,
change.
Reserve
ing 90 days, are }4% bid and 3-16% asked; for four
months, 5-16% bid and }4% asked; for five and six
months, %% bid and 5-16% asked. The bill-buying
rate of the New York Reserve Bank is J^% for bills
running from 1 to 90 days, %% for 91- to 120-day
bills and 1% for 121- to 180-day bills.
The Federal
Reserve banks' holdings of acceptances remain un¬
$3,094,000.
Open market rates for
are nominal in so far as the dealers are
concerned, as they continue to fix their own rates.
The nominal rates for open market acceptances are
changed
at
acceptances
as
Monday, Aug. 17
Tuesday, Aug. 18-..
follows:
150 Days
-180 Days
Asked
Bid
Prime eligible bills
....
90
Asked
Bid
FOR
DELIVERY
Asked
Bid
WITHIN
THIRTY
Days
'16
Aug. 20
Friday,
Aug. 21
Perhaps the most outstanding feature of the market
For 11 days
gold purchases by the Bank of England.
previous to Monday last the Bank of England seems
have
not to
ought
the bank bought
Monday last
on
Other
pur¬
during the week brought the acquisition to
chases
This brings the bank's total purchases
£1,074,819.
of
gold, but
any
£121,390 in gold bars.
gold since Jan. 1 to £44,175,994, of which the
greater part was
Since the
acquired since March 7.
subsidence in the bank's
gold purchases
over a
period
days coincided with the decline from the peak
of 11
of circulation,
which
reached
was
on
Aug. 13, it was
quite generally believed that the increased gold hold¬
ings
directly related to the rise in circulation.
of gold purchases accompanied
were
Now the resumption
by declining circulation makes it evident that the
DAYS
—H % bid
Eligible member banks
Thursday,
affecting the future of sterling is the resumption of
Asked
Bid
M
'16
H
'16
H
Prime eligible bills
H
30
Days
60
Days
Asked
Bid
*16
*16
H
*u
H
120 Days
Asked
Bid
$35.00
35.00
35.00
Wednesday, Aug. 19
$35.00
35.00
35.00
Saturday, Aug. 15
Discount Rates of the Federal Reserve Banks
THERE have beenofno changes this week banks.
the Federal Reserve in the
rediscount rates
following is the schedule of rates now in effect
The
for
the
various
classes
of
at
paper
the
DISCOUNT RATES OF
FEDERAL RESERVE BANKS
1H
for
as
planning to
conditions in Great Britain
could safely be anticipated.
gold holdings
are now
at all-time high
£244,862,378, which compares with £193,909,311
year
earlier, with £150,000,000 recommended by
committee, and with £136,880,252 in the
Rate
bank's statement
2H
in 1931.
8 1934
Feb.
2 1934
Jan.
i
money
far ahead
as
The bank's
a
17 1935
May 11 1935
2
2H
2
May
Atlanta
Jan.
9 1935
14 1935
2X
2
Chicago
St. Louis
2
Jan.
19 1935
2H
2
Jan.
3 1935
2H
Minneapolis..
2
Kansas City
2
May 10 1935
2H
2H
2 H
Dallas
2
May
Srm Francisco...
2
Feb.
8 1935
16 1934
2H
May 14 1935
There is
2
Richmond
easy
Previous
Feb.
1H
minor way.
It is clear that the
building the broadest possible
for their credit structure and are
Date
2
Cleveland
—
base
Established
2
Philadelphia
a
hold credit and
the Cunliffe
Effect on
Aug. 21
New York
only
British authorities are
of
Rate in
Boston
gold buying policy is related to its note circu¬
in
different
Reserve banks:
Federal Reserve Bank
bank's
lation
H % bid
Eligible non-member banks
hoarders
no
are
just prior to the suspension of gold
sign that French
disposed to turn
England notes which they
do so,
2H
an
the bank's
reserves
extent that additional
now
or
other Continental
back the
hold.
Bank of
Were they to
would be increased to such
gold purchases might not
Financial
1138
be necessary.
On the other hand, as just noted, the
question of hoarding or increased note
probably has
of gold.
little bearing
very
circulation
the acquisition
upon
It is thought in some quarters that with
a
decline in circulation the Bank of England might dis¬
pose
this
of
of its gold, but informed quarters regard
some
highly improbable.
as
The strong
England
created
a
of
wave
new
confidence
throughout British markets and industries.
expects
first place
again take
will be
produced just such
Prices
ment.
as
£63,000
was
there
ounce,
was
apparently
no
gold
:On Tuesday there was
£121,390.
Exchange
offer.
on
The
offer in the
on
Wednesday £346,000,
Thursday £302,000, and on Friday £138,000. The
on
£202,000,
market
open
of
Bank
on
England's purchases for the week totaled
£1,074,819 in gold bars.
At the Port of New York the
the week ended
Aug. 19,
as
gold movement for
reported by the Federal
York,
follows:
was as
13-AUG. 19, INCLUSIVE
Exports
Imports
$7,243,000 from France
and confidence
Stock
London
On
day, however, the Bank of England bought
Reserve Bank of New
ease
offer.
on
Monday, when the price was fixed at 138s. 5d. per
4,701,000 from Mexico
1,984,000 from Canada
is necessary to such a move¬
the
on
small quantity for sale in New York.
a
Saturday last there
GOLD MOVEMENT AT NEW YORK, AUG.
condition of
a
in its maintenance
On
of the opinion that
a
The official money policy has
seen.
by the Equalization Fund for the Bank of
revival of gilt-edged
are
the time is not far distant when
issues
borrowers - of public
taken for hoarding account, some doubt¬
was
England, and
Industrial companies
as
but financial circles
money,
An
prevails in financial circles in
activity
preparation for these events.
will
London
early resumption of capital offerings.
an
unseasonal
believed,
less taken
same
credit base established by the Bank of
has
Aug. 22, 1936
Chronicle
None
1,366,000 from England
988,000 from India
are
97,000 from Nicaragua
moving /upward although this
again
is
holiday
a
$16,379,000 Total
in Great Britain.
season
In recent months there has been
in commercial borrowings
banks.
Advances
about
10% above
level since
to
from the London clearing
customers
a year ago
by
accompanied
are
and
running
now
steady decline in the
a
of
ratio
held by clearing banks against deposits in
reserves
the form of
coin, notes, and balances with the Bank
of England.
Thus far, the decline has not been large
enough to warrant
in
fears of important increases
any
Increase:
received at San Francisco from
The
above
figures
of
which
for
$2,479,300
Canada and
were no
week ended
for the
are
came
from India, $1,979,000
$271,100 from England.
received of which $4,005,900
was
from
There
were no
and in view of these tendencies the renewed
buying
held earmarked for foreign account.
gold is
logical development.
a
financial
the
opinion in London is not
from
abandonment of
force and
to
rise,
confident
as
to
sterling
the
upon
gold in 1931 has apparently lost its
a
tendency
condition which is suggestive of
a
showing
a
culminat¬
commodity prices
are
The Board of Trade's index of whole¬
ing cycle.
sale
of
depreciation
the
so
The stimulus to business result¬
longer prospect.
ing
be,
may
prices in Great Britain for July, based on the
of 1930
average
100, is 93.6, compared with 92.6
as
in June and with 88.1 in
July, 1935.
The current
price level is the highest since November, 1930, while
the rise since
July, 1935 is 6.2%, which is the largest
increase for any one
"London
The
"There
business
boom
maturity.
who
say
But the
so,
men,
can
are
that booms could
prudent
the prudent
a
come some
man
can
not alter.
show little
change in the economic trend,
day, and
may come
change from day to day.
against bills is in supply at %%.
months' bills
are
soon."
easy
Call
and
money
Two- and three-
9-16%, four-months' bills 19-32%,
and six-months' bills
on
That
will already be making
Money rates in Lombard Street continue
was
will
man
subject to morphology which
influence but
preparations for
that must
Gold
state of
until proof to the contrary is produced, that
human efforts
his
are some
eternal.
a
11-16%.
offer in the London open market this week
taken for unknown destinations..
Some, it is
England.
1-64% and
\
.
the
during
exchange
week
ranged
par.
Referring to day-to-day rates sterling exchange
on
Saturday last
was
firm and steady, in dull trad¬
Bankers' sight
ing, unchanged from Friday's close.
$5.02%@$5.02%; cable transfers $5.02 11-16©
was
$5.02%.
On Monday the
limited
market.
The
pound
was
$5.02 11-16 for bankers' sight and
for cable transfers.
On
and
Bankers'
more
$5.03%
active.
cable
and
$5.03%.
bankers'
The
sight
On
range
and
$5.02
on
con¬
$5.03 3-16@$5.03%
for cable
Thursday sterling continued steady
was
steady
The range was
quotations
demand and
limited.
was
The
for bankers' sight
in
a
On
relatively
light
$5.03@$5.03% for bankers'
on
Friday
for cable transfers.
were
for
$5.03%
$5.03 3-16 for cable transfers.
mercial sight bills finished at $5.03,
at
London
$5.03%@$5.03% for
was
sight and $5.03 1-16@$5.03%
Closing
$5.02%@
$5.02 13-16©
15-16@$5.03% for cable transfers.
sterling
market.
was
were
$5.02%@$5.03 5-16
was
Friday
$5.02%@$5.02%
sight
transfers
range
and
a
Tuesday sterling was firmer
On Wednesday exchange
tinued firm.
steady in
$5.02 9-16©
was
range
although foreign exchange trading
present
(the word is not exaggerated as far
There
booms, like
being
points out:
England is concerned) is in
and should be
assume,
Economist"
from
$112,900
exports of the metal or change in gold
discount of
a
transfers.
year.
the clearest indications that the
are
southern
as
month this
between
activity at home,
general business
by
judged
as
situation
and
France
Canadian
However encouraging the British
On Friday
foreign account decreased $350,000.
$4,118,800 of gold
came
of
There
•
exports of the metal, but gold held earmarked
policy,
the
on
On Thursday $4,729,400 was received
Wednesday.
from
was
Hongkong.
British
however, has been the
recovery,
of
$4,378,000
approximately $1,441,000 of gold
easy money
The
rates.
money
backbone
Gold Held Earmarked for Foreign Account
Note—We have been notified that
at the highest
are
This condition has been
early in 1932.
Net Change in
steady increase
a
Com¬
sixty-day bills
$5.02%, ninety-day bills at $5.01%, documents
for payment
bills at
(60 days) at $5.02%, and seven-day grain
$5.02%.
Cotton and grain for payment closed
at $5.03.
Continental and Other Foreign Exchange
FRENCH francs weeks,been under pressure during
the past two haves
frequently ruling in terms
of the dollar at the lower
unit is also at
a
gold point, 6.58 5-16.
The
disadvantage in terms of sterling, the
Volume
143
Financial
Holland guilder, and the
such
largely to uneasiness
over
stated that
governor,
the efforts of the bank will be directed toward insuring
stability of the
policies of the French financial authorities. The
renewed pressure is due
1139
Labeyrie, recently appointed
no
foreign quarters as
drive could not be successful because of the
a
strict
There is
Swiss franc.
bear drive against the franc from
Chronicle
maintaining rules for di¬
currency,
count operations and advances.
the
The extent of assjst-
which the state might ask of the bank in times
ance
Spanish civil strife and to the failure of the French
of crisis, he stated, would be limited to fixed amounts,
Government to reestablish confidence at home in the
and if it did not appear to
future prospects for business
recovery in France.
interest,
A great
weeks
deal of gold has been engaged in recent
for shipment from
London
and
York and
New
to
mands which
by the impediments placed
manded to do
ment of commercial balances.
The
Despite the efforts of the French Government
induce
a
to
are
yield to governmental threats and
to
by
we are
certain debe
perfectly
imperiously
com-
for the general interest."
care
important
no
The free mark, to which German monetary
authorities point when they maintain that the mark
growing that capital is being smuggled
steadily out of France. No disposition is being shown
to
so
with regret
to their makers to
German mark situation shows
change.
repatriation of French balances from abroad,
indications
resist
we
seem
reasonable, it will be because
of gold shipments except for the adjust-
way
In address-
colleagues, Governor Labeyrie said: "You
new
France that when
might have bebn expected, but
these have been restricted
be justified in .the public
be opposed by the bank.
will help us to make it understood throughout working
large shipments to Amsterdam under
normal circumstances
in the
Paris
ing his
migfit
has not been devalued, is quoted currently around
40.24 cents, compared with its dollar parity of 40.33
bring the
Commercial
cents.
funds home.
marks
the
on
other
hand
are
Entirely ignoring the Sept. 1 deadline
for reporting of balances abroad, French
capitalists
apparently are busy with plans to make still more
the mutually irritating phases of foreign trade between
difficult the detection of their foreign balances.
the two countries—countervailing duties
ruling at about 22.30 cents.
United
The
"popular" "baby bond" issue has fallen flat.
The
rencies
difficulties
current
French
franc.
The
not
are
center
other
Paris.
of
entirely about the
England notes.
On the contrary,
financing of German trade with the United States,
The
this form of
overcome
Bank of France notes
severe
measures
enee
14 shows
that
in order
140,763,701 francs.
the first
at
seven
reserves
as
months of this year
imports
decline.
in
the
first
while exports declined to
9,058,000,000 francs.
months
seven
were
-
3,262,000,000 francs in the
In the first
months
seven
of
valued
last
288 tons, while exports
imports from the United States must
It is
legally.
The Italian lira is under strict exchange control
regulation.
year,
The unit is virtually
Publication
which
was
a year ago.
imports increased by 1,126,-
from January,
country is headed for
France
situation.
If
with
serious financial
activity takes place
if
not
of
inflation,
communistic
of
devaluation,
measures
to
than
pended
upon
time.
success
because
he
bihties which its failure would
It would
that the
seem
is inclined to be
even
as
order to raise
or
currencies still
$251,000,000 of gold and to
on
Dollar
Parity
.
Parity
i3-.90
19.95
possi-
ilisS
32.67
-
40.20
The London check rate
drastically radical and
at 76.44, against 76.33
the former
Speaking at the first meeting of
newly created council of the Bank of France, M.
meet
leading
gold to the United States dollar:
0ld
New York
board of regents.
the
limiting
foreign exchange with which to
Holland (guilder)
as
reduction
a
The following table shows the relation of the
control
governing council of
conservative
longer losing
foreign obligations.
bring.
new
the Bank of France will not be
dreads the
no
It is believed that
experi-
a
not
It is generally
$70,000,000.
Italy degold shipments to these two countries in
M. Caillaux gave his support to the
present government measures and stated that he wishes the
be
measure
1935 to April, 1936 Italy shipped to
less
not
capital and the greater part of the national economy.
merit to
defense
Switzerland approximately
In that event the nation will be faced
alternatives
some
of imports to absolute necessities.
months, he maintained, the budget
and Treasury problem will become more serious than
socialistic
a
currency,
statistics,
in the Italian trade deficit through a strict
within the next six
before.
as
One effect of the sanctions has been
feared the
ever
blocked
a
economic
believed that the Bank of Italy is
gold.
Caillaux, veteran French statesman, in a recent
speech in the Senate expressed grave misgivings
regarding the future.
He told the Senate that he
real revival of
and
suspended last fall
likely to be renewed for
M.
no
financial
of
against sanctions, has not been resumed and is
declined 360,810 tons.
a
quite generally believed that other
States and that this may ultimately force the German
months from
period
same
gold mark, it is
financial authorities to devalue the mark openly and
The trade deficit increased to
seven
or
For
8,273,000,000 francs from
5,531,000,000 francs for the first
free
countries may follow the example set by the United
13,804,000,000 francs, compared with 12,320,000,-
000 francs
of the
The
improvement.
no
basis
the
on
and German
of
of Aug. 31
further loss in gold.
Franch trade situation shows
Now
believed that German exports to the United States
The next statement
is expected to disclose a
of American insist-
of the various special marks in
use
Germany is compelled to trade with the United
States
capital flight.
decrease in gold
a
against the
trade between the United States and Germany.
The statement of the Bank of France for the week
ended Aug.
sharp dip in commercial marks is believed to be
due to final German acceptance
The French authorities will
doubtless have to resort to
of "aski" and other depreciated marks
use
and of direct barter by the German Government for
London reports a renewed demand for Bank
Bank of
imports
on
goods in the United States and the aboli-
tion of the
being smuggled to London and exchanged for
are
Germany have both eliminated
cur-
in active demand in
are
England notes from Paris.
to
of German
European gold bloc
being depressed.
guilder and the Swiss franc
States and
The governments of the
.
sight bills
on
on
es.oe
on
Ran0e
-
,
Thia\week
la'Is^'to lats'x
32.59^ 'to 32.61
67.90
Paris closed
on
to 67.95
Friday
Friday of last week.
In
the French center finished
at 6.57 15-16, against 6.58J^ on Friday of last week;
cable transfers at 6.58 7-16, against 6.58 9-16; and
Financial
1140
sight bills at][6.55 7-16, against 6.55 9-16.
commercial
Antwerp belgas closed at 16.88 for bankers' sight
16.88% for cable transfers, against 16.84%
bills and at
and
Final quotations for Berlin marks were
16.85%.
40.21
sight bills and 40.22 for cable
bankers'
for
with
comparison
in
transfers,
40.23
Italian lire closed at 7.86 for bankers'
schillings closed at 18.8634> against 18.86;
Austrian
exchange
at
40.24.
transfers, against 7.8634 and 7.87%.
at 7.87 for cable
4.13%;
and
sight bills and
Czechoslovakia
on
4.13%,
at
against
Bucharest at 0.74, against 0.74; on Poland
on
1936
these
owing to the improved export position of all
countries and the
most of their
higher prices
prevailing for
now
The Argentine Minister of
products.
recently estimated that Argentine corn
Agriculture
exporters would receive approximately
3634%
more
year's exportable stocks of corn than was
for this
last
received
This
year.
bring the
will
country
approximately $35,000,000 more than if sold at last
Argentina is also receiving very much
year's prices.
and
higher prices for other grains and for flaxseed
animal
18.84, against 18.85, and on Finland at 2.21%,
Greek exchange closed at 0.94%
sight bills and at 0.9434 for cable trans¬
Aug. 22,
Chronicle
products.
Argentine
pesos
paper
closed
Friday, official
on
against 2.2134.
quotations, at 3334 for bankers' sight bills, against
for bankers'
3334
Friday of last week; cable transfers at 33.53,
011
free market
Brazilian
re is, official rates, are 8% for bankers' sight bills
834 f°r cable transfers, against 834 and 8.44.
against 3334*
fers, against 0.9334 and 0.94.
unofficial
The
or
27.85@28.05, against 27.80@27.85.
EXCHANGE on the countrieschanges from recent
presents
important neutral during the4
war
no
Both the Swiss franc and the Holland guilder
weeks.
French franc, but only
of gold seem to have been shipped
strong in terms of the
are
small amounts
are
to the movement
of Dutch funds into United States
The domestic trade of Holland continues
securities.
extremely backward and this accounts for the move¬
unemployable Dutch funds to both London
New York at this time.
The banking and credit
ment of
and
situtation in Holland is nevertheless extremely com¬
Aug.
Aug. 3;
National
of
compared, with 651,200 guilders on
The bank's ratio stands at 77.4%.
The
Bank of Switzerland showed gold holdings
as
Aug. 15 of 1,461,500,000 Swiss francs.
of gold to note
its
as
17 showed total gold holdings of 662,900,000
guilders,
on
Bank statement
Netherlands
The
fortable.
ratio
Its ratio
liabilities stood at 115.90%, while
total sight liabilities stood at
of gold to
Paris
reports that since July 19 there have been frequent
arrivals of Spanish gold at Le Bourget, the Paris
airport.
Early this year France received some gold
from Spain in liquidation of accumulated commercial
under the
debts
not quoted.
Spanish pesetas are
86.68%.
terms
of
between the two countries.
settlement arrived at
a
It is generally believed
completely
that the balances owing to France were
There is no way of knowing
liquidated at that time.
present gold shipments are for the payment
of commercial debts or for the buying of war ma¬
whether
terials
It
.
seems
hardly possible
that these gold
shipments represent smuggled gold owned
individuals.
Spain holds
a
gold
reserve
Bankers' sight on
Amsterdam finished on Friday
cable
transfers at 67.91, against 67.91, and commercial
sight bills at 67.70, against 67.70.
Swiss francs
32.58 for
at
against
transfers,
checks
32.5834
and at
and
32.59 for cable
32.5934* Copen¬
transfers at
Checks on Sweden
hagen checks finished at 22.47 and cable
22.48, against 22.44 and 22.45.
closed at 25.94 and cable transfers at 25.95,
at 25.28
and
against
Norway finished
and cable transfers at 25.29, against 25.26
25.92 and
25.93; while checks
Spanish
25.27.
Peru is nominal at 25.25,
5.19.
pesetas
on
were
not
quoted in
which all these
in the
of Japan.
case
EXCHANGEfirm thesympathy with sterling. The
generally on in South American countries is
more
are
or
less closely
The Japanese
yen
is
excep¬
Japanese foreign trade, especially in
manufactured goods, is expanding steadily.
At a
of delegates
meeting
Relations
to
Institute
the
Yosemite, California
at
Japanese delegates asserted that
on
of Pacific
Aug. 20, the
the Japanese have
tech¬
surpassed English and American ■ workers in
nical efficiency,
thus enabling Japan to complete on
challenge
British spokesman, who questioned
for Japan's economic penetration of
of
a
motives
the
backward regions
and recent growth of its exports,
Japanese declared that their
the
Answering the
world.
large scale in the trading
a
country's foreign
expansion had been undertaken solely for
profit and the
commercial
discoveiy of outlets for the excels
population.
checks yesterday were
of last week. Hong¬
kong closed at 31.28@31%, against 31 5-16@31%;
Shanghai at 30%@30%, against 30.18@30% Manila
at 50.10, against 50.00; Singapore at 59.15, against
59.05; Bombay at 38.00, against 38.00, and Calcutta
Closing quotations for yen
29.47, against 29.42 on Friday
38.00, against 38.00.
at
Gold Bullion in European
Banks
THE following table indicates the amounts of gold
bullion (converted into pounds sterling at par
is also firmer
of
exchange) in the principal European banks as
of
reported
cable yesterday (Friday); comparisons
respective dates of most recent statements,
to
by special
us
shown for the
are
corresponding dates in the previous
four years:
of—
England
France
Germany b.
Spain
Italy
Netherlands
Nat. Belg'm
Switzerland
Prev. week.
a
1936
1935
1934
1933
£
Banks
Total week.
South Americans
or
tionally firm.
Norway
the
against 27.25.
through exchange controls, as
legally
Denmark
of
currencies
allied either
Sweden
New York.
undertone
5.90, against 5.90.
EXCHANGE firm the sympathy with countries to
on in Far Eastern sterling, is
generally
by Spanish
67.90, against 67.90 on Friday of last week;
closed
was
nominally quoted at 5.19, against
in excess of
$700,000,000, the fourth largest in the world.
at
free market close
in terms of the United States
easy;
The Holland guilder is especially easy, due
dollar.
or
Chilean exchange is
Both
from France to either Holland or Switzerland.
currencies
unofficial
was
miland
The
£
£
£
244,862,378
438,783,001
2,394,350
88,092,000
842,575,000
54,900,000
106,542,000
49,832,000
24,072,000
6,553,000
6,604,000
193,909,311
573,289,944
3,225,300
90,774,000
59,741,000
49,161,000
100.534,000
45,480,000
19,813,000
7,394,000
6,602,000
,
6,577,000
191,497,920
656,740,396
12,666,200
90,390,000
74,215,000
69,953,000
76,836,000
61,461,000
13,908,000
7,397,000
6,569,000
£
*
139,595,862
667,615,354
35,587,800
90,249,000
61,540,000
85,306,000
76,097,000
89,164,000
11,443,000
7,400,000
9,911,000
1,260,909,016
1,065,209,729 1,149,923,555 1,245,055,353 1,258,633,516
1,260,125,779
1,065,011.759 1,146,942,731 1,239,681,626 1,255,417,671
Amount held Oct. 29,
1935; latest figures available,
b Gold holdings of the
of gold held abroad, the amount of whloh the present
Bank of Germany are exclusive
year
192,216,927
650,542,626
2,905,800
90,569,000
69,657,000
71,950,000
75,304,000
62,543,000
15,393,000
7,397,000
1932
is £1,226,850.
Volume
Financial
143
Chronicle
some
Taking Advantage of the Drought
a
conference at Hyde Park, N.
press
August 4, President Roosevelt
that "it is
a
misery with partisan
made, it
as a
link
up
around the 'ever-normal
contemplating
political
some
was
or
his
would be
position,
unworthy.
evidences,
tration
not blind to the
would be
the
as
be
known
how
the
plans
the
presidential and
being actively urged
are
Mr.
are
than
ministration.
have
been
their
plans
Act
Neither
greatly
have
was
Agriculture,
deterred
by the rebuffs which
with
the
at
hands of
the
original Agricultural Adjustment
set aside
by the Supreme Court
as uncon¬
some
important things which the Court had
con¬
demned, made it possible to accomplish in other
ways
down
by indirection
or
earlier
Act
on
July 23,
Elisha H.
does
not
than
its
good deal of what the
a
contemplated.
Brewer
seem
at
is
likely
If
Boston,
view
to
a
more
valid
government has 00
any case a
final
re¬
hardly be looked for until after the No¬
election,
perhaps until after the opening
congressional session. Judicial disfavor
of the next
for
Federal Judge
much
prove
predecessor, but the
can
by
handed
sustained, the amended Act
days in which to appeal, and in
vember
decision
a
or
resettlement
project in New Jersey has not
halted the project, for here
again a long interval
must probably intervene before a final
judgment
review
upon
is
can
be obtained, and by that time it
probably hoped that the New Jersey experiment,
other, may have the outward appearance, at
or some
least, of
going enterprise.
a
Meantime there is the
calamitous
On
loss
in
drought with its unique opportunity.
August 14, by which time the extent of the
and
suffering which the drought had caused
the agricultural regions of the West was
gener¬
ally realized and
wheat and
cultural
corn
unprecedentedly short
crops
were
regarded as certain, the Agri¬
Adjustment Administration let it be known
that the next
Congress would have before it
under
the income
made
of
which
stable and
more
of the
consumers
violent fluctuations in food
i
a
plan
farmers would be
protected against
prices.
As outlined at
after
loss of more
paper
1938,
according
as
the
to
endangering the
and
with
1934
the
year
and
surpluses,
out
crop
unlikely that burdensome surpluses
could be built up
trative
also
in
single year."
a
including
costs,
stored
grain
the
.
The adminis¬
carrying
charges
on
(the eventual inclusion of cotton is
planned) would be borne by the Federal Gov¬
Farmers who wished to take
ernment.
the crop
mined
ing
until
"it is thought
,
istration with
which, while avoid¬
"State
changes contemplated by the Soil Conservation Act
"turn
amended Act
a
writer, is not regarded
wiped
stitutional, Congress promptly provided the Admin¬
an
to be
top-heavy surpluses"
scheme, since the droughts of this
and
of these officials appears to
met
When the
courts.
Secretary of
to
are
by the States under plans
production would be invoked in order to
delay
"Times"
Mr. Roose¬
Al-
Domestic
and
replaced the Agricultural Ad¬
|300,000,000."
The
congres¬
Tugwell, head of the Resettlement Ad¬
In
swamped the old Federal Farm Board "and
as
have
Wallace,
Conservation
which
terminated its activities with
leading figures in the movement, naturally,
Professor
Soil
administered
such
velt's attention.
The
surplus yields," these premium
prevent the accumulation of
out, and that
upon
hazards by premium pay¬
crop
expanded, while after 1938, when, under
present
control of
opportunity which the
November turned
in
now
approved by the Secretary of Agriculture,
plans which, but for the drought, would
.probably have been held in abeyance, at least until
was
actuarial studies
on
justment Act, the soil conservation programs
how¬
and other
sional elections in
are
plan the present commodity loan system
lotment Act
drought affords for pushing forward agricultural
it
There
whereby farmers might insure themselves
aid of this
be, influential members of the Adminis¬
are
present."
payments to be stored at government expense.
that whatever Mr. Roosevelt's personal atti¬
ever,
tude may
insurance based
against all natural
Roosevelt
universally recognized
significant
are
the
as
features, however. One is "a new system
ments 'in kind' from
implications which, for a man in
There
novel
progress,
could hardly have done
less, in the face of such
allegations, than to dissociate himself emphatically
from motives
granary' scheme long urged
be stored for use during periods
of crop
being capital¬
Mr.
on
such
some
doubtless expected to
advantage.
competence
of short harvests
by the Administration for political purposes,
bring
special
crop years would
was
and that the tour of the West which Mr. Roosevelt
then
with
by Secretary Wallace, by which surpluses of bumper
general reply to the
was
correspondent of the New York
a
writes
who
agricultural subjects, the plan "would center largely
human
remark
The
charge that the drought situation
ized
on
quoted as saying
was
politics."
understood,
was
Y.,
disservice to the proper ad¬
very great
ministration of any government to
was
length by
"Times"
At
1141
past
insurance provision next
over
a
fixed
amount
of
their
by the extent of their risk
production,"
average
"on the basis of
points at
a
or
advantage of
could either
year
pay
crop as
on
the
equivalent
prices prevailing at normal delivery
given timq."
The grain (or cotton) de¬
livered "would be stored under seal and
against release
on
guaranteed
the market by legislative
hibition," and it could be released "only in
short crops
ticipating
deter¬
the basis of
pro¬
of
years
and then only to the extent that par¬
farmers
drought, flood
suffered
crop
damage
from,
pestilence."
or
From whatever
point of view this scheme is
ex¬
amined, its effect would obviously be to increase
Federal
control
would not go
for
more
of
staple
agriculture.
The
plan
fully into operation, it is to be noted,
than two years,
but during that interval
the soil conservation program,
involving revolution¬
changes in agricultural methods, will be system¬
atically developed. For the support of that program
ary
various cash benefits
are
to be
paid by the Federal
Treasury, and while after 1938 the administration
of the system is to be to a considerable extent trans¬
ferred
to
effective
the
until
States,
it
has
tary of Agriculture.
no
State plan
been
become
can
approved by the Secre¬
By indirection, accordingly,
a
Federal control will be established which could
not,
for constitutional
reasons, be established directly.
On July 22 it was announced that the
Agricultural
Adjustment Administration
the governors
would
shortly send to
of the States proposals for
a
model
law under which the Federal subsidies for soil
servation
could
be
obtained—another
con¬
attempt
on
•
the agricultural
will afford the
farmers security against the calamities of nature,
or defeat the ultimate operation ,of natural laws
affecting prices, or give the farmers the American
market except at a substantial cost to the consumer,
or open foreign markets for American agricultural
products. What they will do is to increase Federal
centralization and regimentation. It is peculiarly
unfortunate that the widespread calamity of the
drought, with the immense expenditures for relief
which it unavoidably entails, should give Federal
regimentation a special opportunity to expand,
There is no reason to expect that
plans that are being formulated
of the Administration to dictate the form
the part
of State
The
legislation.
professed .object of the plan is to-secure a
price stabilization beneficial alike to farmers and
explained by Secretary Wallace, the
As
consumers.
plan "if adopted on a national scale, would really
become the ever-normal granary
plan, with crop in-
requirements serving as an automatic regu-.
surance
lator.
.
.
As
.
u
of
form
price stabilization,
the
plan would require no funds to buy up the com-
modity. The participating farmers would really provide the
capital in the form of premium payments
the
for
storage of grain,"
while since the stored
be released only when
grain would
"the
failed,
crops
grain in storage would not be a potential sup-
ply on the market tending to depress the price."
,
of
While the fighting which has continued for more
than four weeks in Spain takes on something of the
customary appearance of civil war, there are cer-
reasoning.
and utilization or
not, is to be cur-
tain accompaniments which give the struggle a
special and, from the point of view of other European Powers, an ominous character. The spread of
(State control being
by Federal authority
only Federal control a degree removed), the effort
farmers
to
their losses
recoup
caused by the
the fighting to embrace most of the country, the
bombing of fortified places, the addition of militia
drought will again result in a surplus production
which the farmer may
warehouses
will
it
a
as
and counter-claims of the Madrid Government and
while if the grain in "storage
the rebel forces are, in general, only the movements
"potential supply
on
will be no price "stabilization," and
there
the farmer will
and incidents which civil strife on a large scale at¬
the market
tending to depress the price," prices will rise in lean
years,
and volunteers to the regular forces, and the claims
for
sell in the market for what-
or
bring;
is not to act
either store in government
elevators at government expense
or
carrying charges,
ever
Neutrality
Unless the vol-
conservation
tailed
of
War and
It
production, whether in connection with soil
is difficult to follow the
ume
Au%- 22» 1936
Financial Chronicle
1142
profit while the consumer suffers,
.
ways
developes. The same is true, to a considerable
extent, of the efforts of foreign Powers to protect
their nationals, the warnings to the Madrid Gov-
hardly conceivable, moreover, that if carrying
ernment of its responsibilities, and the "incidents"
charges accumulate for a number of years, there
which either mark or suggest some contravention of
international law. Not every civil war,' however,
It is
will not be
strong demand for sale or other dis-
a
position of the commodities in order to stop the
Treasury drain and avoid the danger of duplicating
the foolish and
costly Federal Farm Board experi-
the established economic and social order and estab-
ment.
The
proposed plan, in short, appears to be only
another form of the economy
of scarcity, to be
forced
It is difficult to see
by Federal authority.
the
how
plan can in
any case
policy. In
change its tar-
radio address at Chicago
a
en-
benefit the farmers
unless the Administration is also to
iff
has been marked- by such wholesale massacres as
are reported to have occurred in Spain, nor by such
serious attempts by one of the parties to uproot
August
on
lish another in its place. It is this latter situation
which goes far to explain the attitude of a number
of other Powers toward the war, and the difficulty
of securing any collective agreement regarding neutrality or, indeed, about anything else relating to
the struggle.
Grange,
On August 15, for example, the Madrid Govern-
George N. Peek offered some caustic criticism of
ment, which appears to be passing, rapidly under
under the auspices of
15,
the
the National
present tariff policy in its relation to agricul-
ture.
Referring particularly t6 the reciprocity agree-
ment with Canada which went into effect
of the
in
nent
Jan. 1
present year, he cited the claims put forward
"Wallace's
recent issue of
a
on
farm
New-Deal
benefits which had
Farmer,"
a
promi-
journal, regarding the large
accrued to American
livestock
producers in the first five months of 1936, compared
with the
corresponding months of 1935.
The total
exports of the articles mentioned, he pointed out,
amounted to
only $307,000, an increase of $191,000.
For five items
cheddar
alone, however—cattle, live poultry,
cheese, seed potatoes and maple sugar—
control of the Communists, was reported to have
made further important advances along the road to
socialization. According to the Associated Press,
the great oil, tobacco and other industries were confiscated and turned over to the labor organizations
for operation under State control. Nominally, the
step was in fulfillment of a part of the liberal pro-
proclaimed by President Azana when he took
office last April, the opposition to which led to
gram
the present rebellion. A further decree, aimed at
preventing the flight of capital into rebel hands, forbade all dealings in or lending of securities or the
transfer of real estate. The next day the Associated
same
Press reported the seizure of more than 200,000,000
period $6,556,000, or $2,977,000 more than for the
pesetas (nominally about $26,200,000) worth of cur-
the
imports from Canada aggregated for the
same
period in 1935.
rency,
gold, securities, jewels, religious objects, and
can-
deeds to real estate from the Sisters of St. Vincent
accurately forecast, since of the agreements
de Paul, while the General Confederation of Labor
tariff agreements
not be
The ultimate effect of the
negotiated by Secretary Hull
actually in effect only a few have been operative
claimed to have seized
for twelve
rency
agreements
or
more
months, but
make large
a
number of the
concessions to imported
agricultural products without any reciprocal concessions
from
which the average farmer would be
likely to benefit.
some
500,000 pesetas in cur-
and securities from priests and nuns who.
trying to escape from the country. Sweeping
dismissals of municipal judges and attorneys were
were
also ordered,
wholesale
suspensions
of police al-
leged to have been involved in the rebellion were
Volume
Financial
143
announced, and hundreds of functionaries
Chronicle
mark
were re-
moved.
The most
with
the
model,
thoroughgoing attempt at socialization,
Russian
soviet
The situation in
Barcelona is the
the
Constitution
determined to check.
are
concealment, accordingly, Ital-
direct and unofficial does not make it
effective.
complete autonomy in provincial affairs and has
want either
border, especially since there is
center of political and economic radi-
calism, but the aggressive position which the Communists have taken in the Leftist ranks
action
of
Catalonia
a
national
ing council, took
the control of
over
decree of
or govern-
foreign trade and
vate
capital.
vide,
among
duction
Council, with the sacrifice of
tries and stimulation of
eign
in
commerce
abroad
decreed
on
a
new
to
economic
avoid
Powers
indus-
order
attacks
which
somewhat similar
a
treatment
of
transportation
as
well
behind.
is
new
general European
of the
war, none
future
the
of
The most open interest, perhaps,
report that Italy has inquired about
one
Italian
an
of the Balearic Islands, and that
tions with Algiers and French Morocco France
can-
not remain neutral.
The warning which Germany has addressed
own-
to
Madrid against interference with German ships or
attacks upon German nationals
to be interpreted in
unemployed by agriculture and industry,
part through the creation of
a
no objection, is, if true, tangible evidence of the cooperation of the two Powers,
and in the face of such a threat to its coinmunica-
cooperative plan of distribution of industrial
tion of the
ex-
to be less:
appears
Germany has offered
products; temporary control of banking and business by
workers pending nationalization; absorpin
The
occupation of
of large
industries, and of property abandoned by the
ers; a
nothing. With the
the attitude of Germany in the event of
other rural
as
to
is being shown by Italy, but Germany is not far
from
properties; reduction of rents in cities, either directly or through taxation; collectivization of public services and
come
immediately interested in
Spain is neutral.
being
born"; collectivization of large rural properties and
their exploitation by peasant
syndicates, together
with
pro-
concerned about the outcome of the rebellion than
others; "a monopoly of for-
order
re¬
joint agreement of the Powers to remain
by the fear of
by the
some
a
ception of Great Britain, which
The eleven articles of the decree pro-
as
its
succumb to whatever regime was
soon
neutral should have
pri-
other things, for the regulation of pro-
according to necessity
Economic
with
on
on
to fear
It is not surprising, then, that the French
posals of
the work-
gave to
Spain
some reason
established at Madrid.
for the provincial government
the control of all industries carried
ers
ceived, might
a
Fascist
or-a
reports'; of revolutionary movements have been
significance.
Generalitat,
the Economic Council of the
Communist
It does not
that Portugal also, from which country disturbing
gives to the
According to the Associated Press,
\
a
the less
any
France is between two fires.
long been
a
over-
thrown, the succeeding regime will be Fascist. The
fact that the support appears thus far to be in-
virtually
1931, enjoys
no very great
in the hope that, if the Madrid Government is
Spain, since the province,
of
Italy and Germany
ian and German support is being given to the rebels
Wednesday,
on
Catalonia, the province of which
capital, is not altogether typical of
the situation elsewhere in
under
With
the
apparently
system
reported from Barcelona
was
distinct gain for the Bolshevism whose ad-
a
vance
1143
or
the light
their property is
of this essentially
unneutral attitude of Germany and other Powers,
industries and
Whether
a
part of the Spanish coast practically un¬
complete electrification" of the province, and "the
rapid suppression of different taxes in order to ar-
der rebel control has been effectively blockaded in
rive at the
setting
ment, or whether a right of search of,
the
as
decree
ently makes
that
up
of
a
single tax."
provides for
no
accordance
So much of
collectivization
are
many
conclusive
to
such
domestic
country where
every
the
developments
there
are
as
these.
radical parties
Leftist
policy in Spain.
Communists, the former
and
for
express
the
are
the
more
sive
Communists, and it
now
seems
likely that the future policies of the Madrid Gov-
to
those of Communism than of Socialism.
Such
outcome
would, of course, be highly gratifying
Soviet Russia, and there appears to be no doubt
in the minds of
Russia is
an
European diplomatic officials that
giving its moral support to Madrid, and
undetermined
amount
of
support as well.
To
not
or
other
a
on
change would raise Spain from
a
first class Power, but because it would
of
cannot
at
a
German
whether
fact
and
upon
the
the
belligerents
as
tech-
which
a
be
moment
war
are
being
and
more
more
They cannot be drawn in much farther
without openly taking sides, and that would
mean
;
The rejection by the United States, on Thursday,
of the suggestion of Uruguay looking to friendly
mediation by the American countries is, of course,
,
in accord with American policy.. "After most
ful examination of all the circumstances
care-
involved,"
the note of the State Department declared, "we are
constrained to believe that the prospect that such
an
offer
as
is suggested would serve
is not such
pose
as
to warrant
a
a
useful pur-
departure by this
government from its well-established policy."
proposal
appears to
have had
no
ish
to be
answer
some reason
for thinking that
would have been
Government.
from London,
on
An
The
important support
in Latin America outside of Uruguay, but there
pears
ent
the other hand, a SoCommunist Spain is regarded as a
menace,
because the
second to
and
•
Italy and Germany,
cialist
financial
judgment
intervention.
conservative,
ernment, if the rebellion is supressed, will be far
more
>
soviet system
of the
or
Govern-
What is important is that the civil
drawn in.
the Socialists officially
dislike, but European Socialism has been
tactics
involving issues
and that other Powers
of
aggres-
exercised,
Madrid
is still raging, that the outcome as yet is obscure,
As between Socialists, and
increasingly weakened and divided by the
an
passed.
In
Left, those parties naturally sympathize with
primary aims, if not with all the methods, of
the
questions
are
It is impossible for other Powers to be indiffer-
ent
the
nical* matters of international law
in
Spain.
;■
of
rebels have been publicly recognized
Spanish-owned and the Spanish plants of
are
decree
a
lawfully
steamer was
appar-
distinction between large industries
foreign corporations, of which there
with
a
ap-
differ-
acceptible to the Brit-
Associated
Press
dispatch
Wednesday, reported that "White-
hall officials," while "declaring that the European
Powers
were
too
engrossed in their
own
political
,
Financial
1144
interests to
arbiters in the Spanish strife,"
serve as
had nevertheless "advanced the
United States
as
a
of hostilities,
cessation
a
nation might be the
American
South
"the United States or a
suggestion, even though
not yet received fprmal
the fact that the rebels have
offer of
mediation improper.
Grievous and fateful as the
civil war in Spain undoubtedly is, it is not an Ameri¬
recognition would of itself have made an
apparently, any law to
There is not,
concern.
can
sympathy in this coun¬
combatants, or contribu¬
in their behalf, but the experiences
The unsettlement in
security holding well within a point
highest prices of the year. Second-grade utilities have
of the
been somewhat softer, the most
5%s, 1947; the New England
warning against allowing
a
Administration or
propaganda to deflect either the
the
strictly neutral course.
country at large from a
The Course of the Bond Market
This week
hai
been
pushing
The government group has
although fractionally, for five
than a day's setback.
Among the
steadily,
up
without
weeks
highs for the United States Gov¬
seen new
high-grade issues.
ernments and
more
medium-grade and speculative issues there has
trend this week.
1 The
gained.
in
$1,810,000,000
at
000,000
weekly report since the 50%
first
increase
requirements went into effect placed excess
reserve
serves
been a mixed
Rails declined but some industrial issues
(before the increase took effect).
Aug. 12
on
virtually all of the gain of last week,
son
4s, 1995, advanced
gen.
1948,
declined
unchanged
On
105%.
at
% to 114%;
% to 114% ;
Pennsylvania stp.
Virginian 3%s, 1966, were
Friday
MOODY'S BOND
a
new
$3,000,000
the
2%%
to
81%, the high point of the move, gaining over
10
120
120 Domestic Corporate*
prices have improved, while high-grade
particularly strong.
The foods have been
firm, National Dairy Products 3%s, 1951, advancing % to
106%.
Sharp gains have been recorded among the sugars;
Francisco Sugar 7%s, 1942, rallied 5% points to 84%, and
Eastern Cuba Sugar 7%s, 1937, ctfs., moved up to 27%, a
bond
Industrial
gain
2
of
Domes¬
by Ratings
**
Dominican
the
slavia.
Italian
Republic
Germans
issues,
as
of
narrow
obligations have been
mostly of
a
in
and
the
also
bonds
advanced
political
European
the list has
of
issues
group
of Yugo¬
noticeably.
the other hand, receded again upon fur¬
on
unsettlement
remainder
a
been fairly
conditions.
The
steady, with changes
fractional nature.
Moody's computed bond prices and bond yield averages
are given in the following table:
All
1936
YIELD
AVERAGESt
Individual Closing Prices)
120 Domestic Corporate
120 Domestic
tt
by Ratings
Corporate by Groups
30
120
Dally
on
Domes¬
For'
tic
Aaa
Aa
Baa
RR
V.
Indus
4.87
4.25
4.13
3.64
3.59
4.10
4.85
4.24
4.12
3.63
3.59
4.10
4.86
4.24
4.12
3.64
X
3.60
4.10
4.86
4.23
4.13
3.64
X
3.60
4.11
4.86
4.24
Indus.
Averages
124.86
121.60
111.16
98.09
108.57
110.79
120.54
Aug. 21..
4.00
3.44
3.59
20- 110.73
113.26
124.86
121.60
111.35
98.41
108.75
110.98
120.75
20—
4.00
3.44
110.71
113.26
124.86
121.60
111.35
98.25
108.75
110.98
120.54
19..
4.00
3.44
121.38
111.35
98.25
108.94
120.54
18—
4.00
3.44
121.38
111.16
98.25
108.75
110.79
121.38
110.98
98.25
108.75
110.79
A
Aa
Aaa
Baa
RR.
P.
110.79
A
4.11
U.
113.26
19-r
Most
a
The Studebaker Corp. conv. 6s, 1945, were 1% points
Aug. 21.. 110.71
Corp*
moderately,
advanced
higher at 102.
An irregular trend has been in evidence in the foreign
list
Outstanding developments have been price gains for
Corporate* by Groups
Averages
have
Liquor and rubber company
range.
quiet.
tic
S
oils
closing at 102%, up %.
fluctuated irregularly within
have
steels
the
The
points.
Oil 5%s, 1940,
Houston
120 Domestic
Govt.
8 points
issues have been
(Based
Bonds
Friday.
days.
MOODY'S BOND
1936
on
in
PRICESt
Daily
to 30
last week, declined
conspicuous strong spot among utility bonds has been
Hudson & Manhattan RR. ref. 5s, 1957, which advanced
(Based on Average Yields)
U
33%
reached
with losses ranging
The Postal Tel. & Cable 5s, 1953,
points.
to 5
2%
from
ther
Atchi¬
High-grade railroad bonds have remained steady.
4s,
re¬
Aug. 19 compared with $3,170,-
on
Gas & Electric debentures* and
of the International Tel. & Tel. yielding up
the debentures
The
be
pronounced weakness occur¬
Utilities Power & Light deb. 5s, 1959, and
ring on Friday,
which
1914-16 should
of the best
bonds
extend to utility
not
did
week
the
quality, this type of
try for one or other of the
of
of im¬
1968, gained % to close at 93%.
the bond market in the latter part
Pacific 4%s,
prevent public expressions of
tions of money
price changes
few
Illinois Central jt. 5s, 1963, fell 1% to 88%; New
Central 4%s, 2013, at 91 were down 1; Southern
York
of
ject at the outset any such
showed
bonds
railroad
portance.
best one to
The Administration has done well to re¬
step in."
1936
equipment trust issue of the Northern Pacific, maturing
from 1937 to 1946, received a favorable reception.
Lowergrade
best-qualified mediator," and that if and when unit¬
ed non-intervention had starved the belligerents into
Aug. 22,
Chronicle
P
eigns
5.76
X
18- 110.68
113.26
124.86
17- 110.61
113.07
124.64
17—
4.01
3.45
4.13
3.65
15- 110.60
113.07
124.64
120.11
15..
4.01
3.45
3.60
4.12
4.86
4.24
4.13
3.66
14.. 110.59
113.07
124.64
121.38
110.98
98.25
108.75
110.79
120.11
14-
4.01
3.45
3.60
4.12
4.86
4.24
4.13
3.66
13- 110.56
113.07
124.64
121.38
111.16
98.25
108.94
110.79
120.33
13-
4.01
3.45
3.60
4.11
4.86
4.23
4.13
3.65
12- 110.49
113.07
124.64
121.38
111.16
98.25
108.94
110.61
120.33
12-
4.01
3.45
3.60
4.11
<4.86
4.23
4.14
3.65
X
11- 110.41
113.07
124.41
121.38
110.98
98.09
108.57
110.61
120.11
11
4.01
3.46
3.60
4.12
4.87
4.25
4.J4
3.66
X
10- 110.44
113.07
124.41
121.38
110.98
98.25
108.75
110.79
120.11
4.01
3.46
3.60
4.12
4.86
4.24
4.13
3.66
X
8- 110.42
113.07
124.41
121.38
110.98
98.25
108.75
110.61
120.11
8-
4.01
3.46
3.60
4.12
4.86
4.24
4.14
3.66
7.. 110.42
112.88
124.19
121.38
110.98
98.09
108.57
110.61
120.11
7-
4.02
3.47
3.60
4.12
4.87
4.25
4.14
3.66
6- 110.30
112.69
124.19
121.17
110.61
97.78
108.21
110.42
119.90
6
4.03
3.47
3.61
4.14
4.89
4.27
4.15
3.67
5-
.
120.33
—
10-
,
1
—
X
5.82
X
4.15
3.67
X
4.16
3.67
X
4.90
4.28
4.15
3.68
X
4.89
4.28
4.15
3.67
4.90
4.28
4.15
3.68
5.75
121.17
110.61
97.78
108.03
110.42
119.90
5-
4.03
3.48
3.61
4.14
4.89
112.69
123.97
121.17
110.61
97.62
108.03
110.23
119.90
4—
.4.03
3.48
3.61
4.14
4.90
110.17
112.50
123.97
120.96
110.42
97.62
108.03
110.42
119.69
3—
4.04
3.48
3.62
4.15
1.. 110.16
112.69
123.97
120.96
110.61
97.78
108.03
110.42
119.90
1
4.03
3.48
3.62
4.14
4.04
3.48
3.62
4.14
—
X
4.28
123.97
3-
t
4.28
112.69
4.. 110.19
110.23
X
5.75
.
X
Weekly—
Weekly—
July 31- 110.13
112.50
24- 109.92
112.11
17— 109.76
111.73
97.62
120.96
110.61
123.53
120.54
110.05
97.31
123.53
120.33
109.68
96.70
109.31
96.08
123.97
108.03
110.42
119.69
July 31—
107.67
110.23
119.07
24-
3.64
4.17
4.92
4.30
4.16
3.71
5.75
107.14
110.05
118.45
17-
4.08
3.50
3.65
4.19
4.96
4.33
4.17
3.74
5.77
106.60
110.05
118.45
10-
4.09
3.51
3.65
4.21
5.00
4.36
4.17
3.74
4.06
3.50
5.82
10- 110.05
111.54
123.32
120.33
3- 110.04
110.98
123.10
119.90
118.94
95.48
106.07
109.49
118.04
3—
4.12
3.52
3.67
4.23
5.04
4.39
4.20
3.76
5.80
June 26— 109.88
110.79
122.46
119.48
108.75
95.63
106.25
108.94
117.84
June 26..
4.13
.,3.55
3.69
4.24
5.03
4.38
4.23
3.77
5.77
19.. 109.93
110.79
122.46
119.27
108.94
95.63
106.60
108.75
117.63
19..
4.13
3.55
3.70
4.23
5.03
4.36
4.24
3.78
5.85
12— 110.01
110.98
122.67
119.07
108.94
95.93
106.42
109.75
118.04
12..
4.12
3.54
3.71
4.23
5.01
4.37
4.24
3.76
5.95
105.72
108.39
117.84
5.-.
4.15
3.55
3.73
4.24
5.06
4.41
4.26
3.77
6.06
5- 109.99
110.42
122.46
118.66
108.75
95.18
May 29.. 110.01
110.61
122.24
118.86
108.94
95.18
105.89
108.57
117.63
May 29—
4.14
3.56
3.72
4.23
5.06
4.40
4.25
3.78
5.91
22.. 110.20
110.23
122.03
118.66
108.75
94.88
105.54
108.57
117.43
22..
4.16
3.57
3.73
4.24
5.08
4.42
4.25
3.79
5.92
109.98
110.42
121.81
118.45
108.94
95.18
105.72
108.57
117.22
15—
4.15
3.58
3.74
4.23
5.06
4.41
4.25
3.80
6.89
8- 109.70
109.86
121.60
118.04
108.38
94.73
105.20
108.39
116.82
8..
4.18
3.59
3.76
4.26
5.09
4.44
4.26
3.82
5.84
1-
109.69
109.31
121.38
117.22
108.03
93.09
104.51
108.03
116.01
1
4.21
3.60
3.80
4.28
5.14
4.48
4.28
3.86
5.96
Apr. 24.. 109.80
109.68
121.38
117.22
108.21
94.88
104.85
108.21
116.42
Apr. 24..
4.19
3.60
3.80
4.27
5.08
4.46
4.27
3.84
5.86
17- 109.96
110.05
121.38
117.43
108.57
95.78
105.89
108.21
116.62
17-
1 4.17
3.60
3.79
4.25
5.02
4.40
4.27
3.83
5.83
9- 109.75
110.42
121.60
117.63
108.57
96.23
106.42
108.39
116.62
9..
4.15
3.59
3.78
4.25
4.99
4.37
4.26
3.83
5.83
3- 109.64
110.23
121.60
117.73
108.57
95.93
106.25
108.21
116.62
3..
4.16
3.59
3.78
4.25
5.01
4.38
4.27
3.83
5.83
Mar,27— 109.66
110.05
121.17
117.43
108.75
95.63
106.07
108.03
116.42
Mar.27—
4.17
3.61
3.79
4.24
5.03
4.39
4.28
3.84
5.85
20- 109.51
110.23
121.38
117.84
108.94
95.48
106.07
108.39
116.62
20—
4.16
3.60
3.77
4.23
5.04
4.39
4.26
3.83
.13..
4.17
3.63
3.78
4.24
5.03
4;39
4.28
3.85
5.94
15-
—
'
,
.
5.80
13—
109.11
110.05
120.75
117.63
108.75
95.63
106.07
108.03
116.22
6—
109.46
110.98
121.17
118.04
109.49
97.62
108.57
108.39
116.22
6-
4.12
3.61
3.76
4.20
4.90
4.25
4.26
3.85
5.87
Feb. 29..
108.98
110.61
120.54
117.84
108.94
97.16
107.67
108.39
115.81
Feb. 29..
4.14
3.64
3.77
4.23
4.93
4.30
4.26
3.87
6.00
21.. 108.95
110.79
120.96
117.43
109.12
98.09
108.57
108.57
115.81
21..
15.. 108.52
110.61
120.96
117.43
108.94
97.62
107.85
108.75
115.81
4.13
3.62
3.79
4.22
4.87
4.25
4.25
3.87
5.92
15-
4.14
3.62
3.79
4.23
4.90
4.29
4.24
3.87
6.05
8—
108.22
110.23
120.96
117.02
108.39
96.70
106.60
108.57
115.61
8—
4.16
3.62
3.81
4.26
4.96
4.36
4.25
3.88
1—
107.96
109.68
120.75
116.82* 108.03
95.78
105.54
108.57
115.41
1„
4.19
3.63
3.82
4.28
5.02
4.42
4.25
3.89
6.15
31..
108.03
109.68
120.75
116.82
108.03
95.63
105.37
108.57
115.41
—
4.19
3.63
3.82
4.28
5.03
4.43
4.25
3.89
6.13
24„
107.89
109.68
120.54
116.62
108.21
95.78
105.37
108.57
115.41
24„
4 19
3.64
3.83
4.27
5.02
4.43
4.25
3.89
6.11
17— 108.34
109.31
120.11
116.62
107.85
95.18
104.68
108.39
115.02
17..
4.21
3.66
3.83
4.29
5.06
4.47
4.26
3.91
6.17
10..
108.02
108.39
119.90
115.41
107.14
93.99
103.48
108.21
114.04
10-
4.26
3.67
3.89
4.33
5.14
4.54
4.27
3.96
6.26
3..
107.94
107.31
119.27
114.63
106.07
92.53
101.97
107.85
112.69
3-
4.32
3.70
3 93
4.39
5.24
4.63
4.29
4.03
6.23
High 1936 110.73
Low 1936 107.77
113.26
124.86
121.60
111.35
98.41
108.94
110.98
120.75
Low
1936
4.00
3.44
3.59
4.10
4.85
4.23
4.12
3.63
5.75
107.14
119.07
114.43
106.07
91.96
101.64
107.85
112.31
High 1936
4.33
3.71
3.94
4.39
5.28
4.65
4.29
4.05
6.31
High 1935 109.20
106.96
119.69
114.43
105.72
91.67
101.31
107.67
112.11
Low
1935
4.34
3.68
3.94
4.41
5.30
4.67
4.30
4.06
5.78
1935 105.66
99.20
116.82
108.57
98.73
77.88
90.69
94.14
106.78
High 1935
4.80
3i82
4.25
4.83
6.40
5 37
5
13
4 35
6 97
4.o4
3.78
4.14
4.57
5.66
4.94
4.42
4.26
6.45
4.97
3.93
4.34
5.12
6.47
5.05
5.38
4.47
7.31
Jan.
Low
1
Yr.
1
Ago
Aug.21'35 108.26
31
117.63
110.61
102.98
86.77
97.00
105.54
108.39
Aug.21'35
96.54
114.63
106.96
94.29
77.11
95.33
90.55
104.68
Aug.21'34
Aug.21'34 104.92
6.10
Yr. Ago
103.48
2 Yrs.Ago
2 Yrs.Ago
*
Jan.
computed from average yields on the basis of one "ideal" bond (4 5^%' coupon, maturing in 31 years) and do not purport to show either the average
of actual price quotations.
They merely serve to illustrate in a more comprehensive way the relative levels and the relative movement of
For Moody s index of bond prices by months back to 1928, see the issue of Feb, 6, 1932, page 907.
**
Actual average price of S long-term Treasury issues,
t The latest complete list of bonds used in computing these indexes was published In the issue of May 18, 1935,
page 3291.
t+Average of 30 foreign bonds but adjusted to a comparable basis with previous averages of 40 foreign bonds,
X Daily averages discontinued, except Friday
level
These prices are
or
the average
movement
yield averages, the latter being the truer picture of the bond market.
of each week.
<
*
o
.
Volume
THE
143
Financial
STATE
OF
TRADE—COMMERCIAL
Chronicle
EPITOME
The first 18 major railroads to
report for the week ended
Aug. 15, 1936 loaded a total of 346,149 cars of revenue
freight on their own lines, compared with 343,026 cars in
the preceding week and
292,822 cars in the seven days
ended Aug. 17, 1935.; A
comparative table follows:
Friday Night, Aug. 21, 1936.
Business
1145
continued to show an excellent degree of sta¬
bility, the latest index figure of the "Journal of Commerce
being 91.9, which compares with the revised
figure ot a
week ago
of 91.8.
This time last year the index figure was
Electric output was
slightly under the previous week.
of electricity for the week
ended Aug. 15 was
2,093,928,000 kilowatt hours. This compares favorably with
the all-time peak of
2,099,712,000 kilowatt hours, which was
REVENUE FREIGHT LOADED AND RECEIVED FROM CONNECTIONS
74.4.
(Number of Cars)
Production
Loaded
on
Own Lines
VRecelved from Connections
Eeeks Ended—
Weeks Ended—
reached the week of
tinued at a high
Aug. 15 Aug.
July 18, 1936.
Steel mill activity con¬
ingot production showing a rebound
of capacity, according to the American Iron and
1936
8 Aug. 17 Aug. 15 Aug.
1935
1936
1936
8 Aug. 17
1936
1935
rate,
to
72.2%
Steel
Institute..
the year,
week of
This
represents the
second
best
week
Atchison Topeka & Santa Fe
RyBaltimore & Ohio RR
Chic Milw St Paul & Pac
Ry
Chicago & North Western Ry—-
July
mand for steel continues
well
and
industry
with
soon
renewed
diversified, and with the
getting under
impetus to
of
justified
the
Missouri-Kansas-Texas RR—
Missouri Pacific RR..
New York Central Lines
Pennsylvania
Pere Marquette Ry
Retail
years.
sales
so
far
Orleans
of
the month
the
While these
J-IItj
mostly inadequate for
present needs and
benefit to pastures.
mally
The week
warm
was
help, they
were not
,
and
by
week, but later conditions
turned
more pleasant.
Today it was cloudy and warm
here, with
temperatures ranging from 69 to 79
degrees.
The forecast
was
for mostly
cloudy, probably
warmer
showers
tonight and Saturday.
and
somewhat
Overnight at Boston it was
degrees; Baltimore, 76 to
94; Pittsburgh, 72 to
88;
Portland, Me., 54 to
76; Chicago, 74 to
80; Cincinnati,
76 to 98;
Cleveland, 72 to 80; Detroit, 68 to
84;
78 to 88;
Milwaukee, 66 to 70; Savannah, 76 to Charleston,
94; Dallas,
78 to 94; Kansas
City,
58 to 74
84 to 102;
Springfield, Mo., 80 to 96;
Oklahoma City, 78 to
100; Salt Lake City, 58 to
90; Seattle,
58 to 90;
Montreal, 52 to 62, and
Winnipeg, 60 to 78.
+.
Revenue Freight Car
Loadings Up 1.1% in Week
Loadings of revenue freight for the week
ended Aug.
15,
1936, totaled 736,497 cars.
This is an increase of
8,204 ears,
or 1.1%, from the
preceding week, a gain of 122,492
cars,
or
19.9%,
the total for the like week of
1935, and an
cars, or 22.4%, over the total
loadings for
the corresponding week of 1934.
For the week ended
increase of
over
134,709
Aug. 8
loadings were 25.1% above those for the like week
of 1935,
and 20.6% over those for the
corresponding week *of 1934.
Loadings for the week ended Aug. 1 showed a
gain of 25.6%
when compared with 1935 and a rise
of 22.0% when com¬
parison is made with the same week of 1934.
10,091
4,457
44,397
4,959
6,048
x8,138
7,596
"200,109 155,142
Cars)
8, 1936
Aug.
Aug. 17, 1935
UI
xxjuuci
13,267
12,228
70,128
60,021
xvufju.
revenue
was
21,434
26,359
AwvMAvwvv-h.
Loading of
cars
revenue
follows:
freight for the week ended Aug.
increase of
an
as
146,216
an
cars
or
.
freight for the week of Aug. 8
was a
decrease of 19,258
or
2.6% below the preceding week.
■
Miscellaneous freight loading totaled 289,022 cars,
cars
8 totaled 728,293
25.1% compared with the
increase of 124,325 cars or 20.6% above
the corresponding week in 1934.
below the preceding week,
but
an
corresponding week in 1935 and 65,678
decrease of 5,397
a
increase of 60,423 cars above the
cars
above the corresponding week
in 1934.
'
,
Loading in merchandise less than carload lot freight totaled 165,724 cars,
increase of 1,776 cars above the preceding week, 9,695 cars above the
an
corresponding week in 1935 and 7,203
cars
above the
same
week in 1934.
Coal loading amounted to 114,524 cars, a decrease of 10,148 cars below
the preceding week but an increase of 36,671 cars above the
corresponding
week in 1935 and 22,152 cars above the same week in 1934.
»Grain and grain products loading totaled 46,451 cars, a decrease of
4,519
below the preceding week but an increase of 5,005 cars above the cor¬
cars
responding week in 1935 and 5,261
cars
above the
same
week in 1934.
In
the Western districts alone, grain and grain products loading for the week
ended Aug. 8 totaled 30,342 cars, a decrease of 2,029
cars
ing week this year, but an increase of 4,539 cars above the
Live stock loading
amounted to 14,717 cars,
a
below the preced¬
same
week in 1935.
decrease of 706
cars
below
the preceding week but an increase of 3,431 cars above the same week in
1935.
*
It was, however, a decrease of 17,391 cars below the same week in
1934.
were
weather, especially in the interior of
the coun¬
scanty rainfall, with the
exception mentioned
earlier in this
report.
In the New York
City area consid¬
erable discomfort was
experienced from the heat
the early
during
part of the
try,
2.496
7,456
30,415
7,081
3,634
32,692
3,771
5,128
x5,982
7,337
25,416
31,445
Aug. 8 reported
corresponding week in 1935 and
Iowa.
of much
This
cars.
cor¬
characterized by abnor¬
2,948
8,192
39,954
^
Loading of
were
north-central and northeastern
sufficient to be of material
ASbUCIcl IIUU
week ended
in
were
6,663
8,289
1,474
1,617
1,470
1,710
69,891
Total
helpful
parts of
Kentucky, rather generally in
Ohio, northern
Indiana, northern and east-central
Illinois, northern Michi¬
gan, in much of Wisconsin
and
Minnesota, and in about a
dozen
counties
8,061
8,928
11,500
24,404
31,354
14,133
-
—
week since 1931, and it
was only exceeded
two weeks
ago, when the total was
747,551 cars.
No extensive droughtrelieving rains occurred during the
week, with one out¬
standing exception. ' During the last 24
hours heavy gen¬
eral rains fell in
many areas of the corn
belt, and while
little hope was
expressed that they would have
any real
beneficial effect on the corn
crop in most areas, the rains
helped in many other
ways.
Extremely high temperatures
continued to prevail in
many sections of the
country, and
this terrific heat
intensified the unfavorable
dryness over
much of the interior
of the
in
of
Aug. 15, 1936
any
Showers
4,750
34,129
4,882
17,703
55,759
5,005
5,405
27,044
5,689
4,573
12,226
7.495
6,813
10,104
•
& Pacific Ry
Illinois Central System
St Loitis-San Francisco Ry
responding 1935 period,
according to official figures.
This
was the second
highest reported by American
railroads for
country.
*
Chicago Rock Island
almost 15% larger than in the
like
Only a slight falling off in some retail
lines
was reported
by the trade agencies from the
preceding week,
while buying ranged 15 to
25% ahead of a year ago. Whole¬
salers reported volume
unchanged from a week ago and far
ahead of last year.
Production of automobiles and
trucks
this week was
estimated at 73,709
against 56,638 last week
and 50,585 a
year ago.
Car.loadings for the week ended
Aug. 15 totaled 736,497 cars, a
gain of 8,204 cars over the
over
2,051
13,550
5,427
16,129
interchanged between S. P. C.-Pacific Lines and Texas & New
Co.
(Number
ran
week and 122,492 cars
5,261
15,599
10,810
7,800
7,936
11,088
1,156
1,743
2,838
8,396
39,078
9,606
4,370
43,149
4,679
6,907
x7,963
7,108
TOTAL LOADINGS AND RECEIPTS FROM CONNECTIONS
1935 period.
immediately preceding
cars
RR.
in
August are holding
up surprisingly well,
merchants report, despite the extreme
heat
prevailing throughout most of the
country during
much of this
period.
Officials of large
merchandising or¬
ganizations report that
department store sales for the first
half
Excludes
x
19,044
25,465
19,512
15,330
19,862
15,481
2,161
346,149'343,026^292,8221195,477
Totai
highly
seven
Erie RR
Southern Pacific Lines
Wabash Ry
encouraging trend of business conditions,
Commerce Department officials
recently predicted that the
national income in 1936
will be the
highest since 1929, and
will enable business
to balance its
outlay for the first time
in
"
RR
Pittsburgh & Lake
for the balance of the
year would appear
far as steel is
concerned.
As a result
as
—
New York "Chicago & St Louis
Ry
Norfolk & Western Ry
auto¬
20,936
31,724
24,127
16,717
23,176
18,065
2,655
2,260
4,605
16,101
40,510
5,415
22,491
66,144
5,058
6,870
30,216
5,957
2,599
2,318
4,729
16,462
40,813
5,498
23,145
67,128
5,100
6,720
31,191
5,742
International Great North'n RR.
building trade this fall,
glowing predictions
well
Gulf Coast Lines
way with its new models
the
18,228
Chesapeake & Ohio Ry
Chicago Burlington & Qulncy RR
of
the top of 74% having been reached
during the
4.
The current rate of
72.2% of capacity
compares with 70.0% for the
previous week and 48.8% a
year ago.
The steel situation
appears so healthy and pros¬
pects so bright that there is
quite a bit of discussion con¬
cerning an increase in prices for the fourth
quarter.
De¬
motive
20,473
32,640
23,813
16,436
23,114
In the Western districts alone, loading of live stock for the week
ended Aug. 8 totaled 11,454 cars, a decrease of 630 cars below the preceding
week this year but an increase of 3,339 cars above the same week in 1935.
Forest products loading totaled 35,199 cars, a decrease of 520 cars below
the preceding week, but an increase of 5,441 cars above the
1935 and 11,831 cars above the
same
same
week in
week in 1934.
Ore loading amounted to 54,206 cars, an increase of 648 cars above the
preceding week, 22,100
24,950
cars
cars
above the corresponding week in
1935 and
above the corresponding week in 1934.
Coke loading amounted to 8,450 cars, a decrease of 392 cars below the
preceding week but
an
increase of 3,450 cars above the
same
week in 1935
and 4,641 cars above the same week in 1934.
All districts reported increases in the number of cars loaded with revenue
freight, compared with the corresponding weeks in 1935 and 1934.
Loading of revenue freight in 1936 compared with the two previous
years
follows:
1936
Four weeks in January
2,353,111
3,135,118
2,418,985
1935
Five weeks in May
3,351,801
Four weeks in June
2,787,012
2,825,547
747,551
728,293
2,169,146
2,927,453
2,408,319
2,302,101
2,887,975
2,465,735
2,224,872
595,297
582,077
20,892,261
18,562,975
Five weeks in February
Four weeks in March
Four weeks in April
2,544,843
*
Four weeks in July
Week of Aug. 1
Week of Aug. 8
Total
In
.
1934
2,183,081
2,920,192
2,461,895
2,340,460
3,026,021
2,504,974
2,351,015
612,660
603,968
19,004,266
the following
table we undertake to show also the
loadings for separate roads and systems for the week ended
Aug. 8, 1936.
During this period a total of 123 roads
showed increases when compared with the same week last
The most important of these roads, which showed
increases, were the New York Central Lines, the Pennsyl¬
vania System, the Baltimore & Ohio RR., the Southern
year.
System, the Atchison Topeka & Santa Fq System and the
Illinois Central System.
:
Financial
1146
(NUMBER OF CARS)—WEEK ENDED
LOADED AND RECEIVED FROM CONNECTIONS
REVENUE FREIGHT
Total Revenue
from Connections
1934
1935
1936
1936
(Concluded)—
537
1,187
943
671
277
226
7,532
1,450
7,086
1,212
9,065
2,403
8,239
1,688
39
26
82
74
1,008
3,428
7,097
893
2,210
6,736
6,249
1,770
5,694
4,726
438
246
261
182
2,680
1,407
1,926
991
747
200
2,366
14,084
6,543
1,736
1,215
7.745
1.746
1,692
11,483
5,248
235
202
•
.
82
358
281
12,611
3,894
11,349
3,320
12,214
3,439
166
130
136
1,533
8,103
2,769
3,578
2,473
40,510
10,670
1,714
5,415
6,909
5,058
1,260
6,305
2,780
2,519
1,751
33,685
9,628
1,394
4,843
5,122
4,568
1,529
6,683
2,938
3,229
1,753
33,774
9,205
1,706
4,643
4,122
4,673
32
46
39,954
10,813
1,752
10,091
6,009
4,959
28,950
239
Grand Trunk Western
Lehigh & Hudson River
.
Lehigh <fe New England
Lehigh Valley
Maine Central
Monongahela.
Montour
Lines
N. Y. N. H. & Hartford
New York Ontario <fe Western.
N. Y. Chicago & St. Louis—
Pittsburgh & Lake Erie
Pere Marquette
126
217
32
21
Pittsburgh <fe Shawmut
Pittsburgh Shawmut & NorthRutland
1,520
5,805
1,530
145
165
307
118
133
320
246
1,669
2,311
1,358
1,745
437
& St L.
Nashville Chattanooga
324
303
645
517
28,670
22,754
263
199
135
997
1,375
1,000
604
604
985
794
5.458
2,751
7,596
6,640
2,226
-
—
56,649
46,902
Southern District
96,842
79,121
80,674
58,197
45,884
2,393
11,500
3,046
8,928
1,580
8,299
2,463
6,743
3,206
Total...—--
Northern' DistrictBelt Ry.
817
of Chicago
Chicago Great Western
Chicago Milw. St. P. <fc
3,373
Duluth
561
788
20,596
2,847
23,175
4,352
15,267
1,282
7,419
16,693
2,034
17,784
3,365
8,598
19,071
2,793
20,577
3,581
8,676
514
831
451
300
5,193
3,634
5,286
3,649
—
Chicago & North Western
Pacific.
Omaha
Northern...
South Shore & Atlantic.
Elgin Jollet & Eastern
Ft, Dodge Des Moines &
405
400
155
131
16,492
13,977
3,507
2,672
620
505
614
637
497
3,000
2,364
7,292
10,615
Ishpemlng
Minneapolis & St. Louis...—
Minn. St. Paul & 8. S. M
Northern Pacific
--
2,397
1,686
1,840
2,513
6,305
95
9,906
82
1,908
2,641
3,453
1,514
2,040
2,638
305
222
320
212
2,016
1,602
1,660
1,814
1,224
124,622
91,489
98.288
SO,328
37,400
20,936
3,177
18,976
3,110
21,762
2,956
5,427
2,416
4,368
314
229
180
63
24
16,717
1,456
12,700
2,871
14,670
1,497
16,585
1,559
8,061
6,690
910
620
10,735
2,161
12,480
2,280
8,100
904
725
937
2,693
2,132
2,524
1,348
2,895
5,738
1,758
1,120
2,212
Seattle—
Spokane Portland &
125,516
152,222
119,545
541
490
373
638
620
31,724
5,797
25,055
3,566
24,172
3,413
16,129
2,808
12,131
1,608
332
176
230
9
7
1,292
5,801
475
21
15
4,473
1,022
5,187
10,224
8,192
921
654
66
50
32
Chicago & Illinois Midland-
304
271
238
32
38
Chicago Rock Island &
112
16
61
20
20
Chicago & Eastern Illinois
'y 609
859
1,092
53,084
10,189
6,507
1,048
51,379
11,435
5,473
2,580
1,150
44,397
15,565
5,723
1,767
1,142
30,307
11,479
3,567
Total
Baltimore & Ohio.
Bessemer & Lake Erie
Buffalo Creek <fc Gauley
Cambria & Indiana
Central RR. of New Jersey...
Cornwall
Cumberland & Pennsylvania..
LIgonler Valley
-
799
-
1,198
66,144
13,698
14,137
Penn-Readlng Seashore Lines.
Pennsylvania System
Reading Co
Union (Pittsburgh)
West Virginia Northern
Western Maryland
34
22
33
2
2
3,253
2,799
2,992
5,803
4,533
146,087
109,478
107,982
105,151
75,460
24,127
22,491
17,816
15,977
19,369
15,665
10,104
4,457
1,139
7,352
3,170
1,027
-
Central Western District—
Fe System.
Atch. Top. & Santa
Alton
Bingham & Garfield
Chicago Burlington & Quincy—
Pacific
Colorado & Southern
Denver & Rio Grande Western.
479
24
28
921
1,071
980
874
805
1,345
1,985
1,217
1,858
1,860
1,521
942
89
47
1,039
896
540
655
174
157
136
143
45
19,775
19,667
System
5,448
3,339
7.106
City
Fort Worth & Denver
Illinois Terminal
Nevada Northern
North Western Pacific
23,786
Included
(Pacific)
St. Joseph & Grand Island..
Southern Pacific
907
659
750
3,790
3,224
3,469
791
415
51,315
37,676
39,253
16,491
i N
Total
P.
In U.
a
1,159
241
425
12,239
13,879
1,210
8,574
202
127
197
3
5
1,882
1,551
1,642
2,579
2,004
L07.928
Utah
92,854
101,245
52,585
40,571
5,033
3,542
—
Western Pacific
11,964
Norfolk <fe Portsmouth Belt Line
Virginian
^
82
426
Union Pacific System
—
300
13,637
Toledo Peoria & Western
Norfolk & Western
2,360
1,906
585
Denver & Salt Lake
Peoria & Pekin Union
Pocahontas District—
Chesapeake & Ohio
5,282
8,073
337
122,688
Allegheny District—
Akron Canton <fc Youngstown.
Total.
150
226
444
Green Bay & Western
Lake Superior &
146,026
Long Island
4,068
22,279
South.
Great Northern
Spokane International
Total
2,428
45,964
Duluth Mlssabe &
781
5,350
2,998
237
1,567
2,475
Tennessee Central
Grand total
1,649
342
1,710
3,022
Chicago St. P. Minn. &
235
5,957
4,838
Mississippi Central*
1,511
7,264
4,921
3,672
609
Wheeling & Lake Erie—,
Louisville &
9,878
336
Wabash
8,721
3,535
803
818
1,204
Pittsburgh & West Virginia—
703
10,812
4,703
Mobile & Ohio
Detroit & Toledo Shore Line..
Erie
983
Macon Dublin &
4.457
7,913
Detroit & Mackinac
b New York Central
Nashville
Savannah
32
Detroit Toledo <fe Ironton
395
151
Illinois Central System
984
Delaware Lackawanna & West
607
1,233
18,502
14,807
—
4,142
8,197
Delaware & Hudson—
1,483
635
1,488
17,132
15,503
979
Georgia & Florida...
Gulf Mobile & Northern
Central Vermont
1,141
712
582
1,593
21,374
20,067
Georgia
825
7,887
1,707
Chicago Indianapolis & Loulav
Central Indiana
1935
1936
166
627
721
Boston & Maine
from Connections
1934
1935
1936
1935
494
Bangor & Aroostook
Total Loads Received
Freight Loaded
Railroads
Group B
Eastern District—
Ann Arbor
AUG. 8
Total Revenue
Total Loads Received
Freight Loaded
Railread
Aug. 22, 1936
Chronicle
Total.
Southwestern District—
Alton <fc Southern
f
Group A—
3,471
1,205
4,178
1,633
169
142
172
121
142
176
Fort Smith & Western
Southern District—
212
Burlington-Rock Island...—
120
150
181
242
166
2,655
2,260
2,352
2,193
1,938
3,036
1,470
1,710
1,045
1,910
1,005
1,401
1,786
Gulf Coast Lines
914
6,592
1,037
Charleston «fc Western Carolina
449
335
312
913
640
Kansas Oklahoma <fc Gulf—
Durham & Southern
178
151
134
307
284
Kansas City Southern
6,689
7,469
1,376
Atlantic Coast Line
Cllnchfleld
'
40
30
40
88
68
1,164
989
1,259
989
954
Piedmont & Northern
429
346
384
893
680
Richmond Fred. & Potomac.
320
328
346
2,099
2,745
10,358
Gainesville Midland
Norfolk Southern
....
6,250
17,060
7,408
21,186
Seaboard Air Line
Southern System
18,028
2,833
3,459
13,492
742
646
29,527
23,150
6,453
174
127
125
40,193
33,219
34,710
243
161
189
Atlanta Birmingham <fc Coast..
836
743
840
Atl. & W. P.—W. RR. of Ala-
860
617
654
3,953
3,566
3,256
281
201
205
266
381
449
404
.
188
Louisiana & Arkansas.
218
108
2,116
1,363
1,753
1,448
1,568
1,499
915
1,413
772
Louisiana Arkansas & Texas
141
105
85
434
380
Litchfield & Madison
283
153
323
1,021
807
Midland Valley.
636
629
576
218
Missouri & Arkansas
160
134
55
243
162
4,711
14,971
2,948
8,192
2,437
*.
Missouri-Kansas-Texas Lines
4,610
13,159
4,605
.-
16,101
Missouri Pacific
182
7,171
228
424
International-Great Northern .
256
Winston-Salem
Southbound.
..
Natchez «fc Southern..
Total
96
St. Louis Southwestern
Alabama Tennessee & Northern
Central of Georgia
& Greenville
Columbus
395
Florida East Coast
*
Note—Figures for 1934 revised.
Previous figures,
Texas & Pacific.
555
457
Terminal RR. Ass'n of St. Louis
1,259
2,332
962
Wichita Falls & Southern
2,030
Not available,
a
206
99
80
7,511
8,392
3,958
1,946
5,516
2,096
5,767
4,554
2,690
3,866
3,272
1,584
2,333
3,268
2,210
2,603
2,168
249
176
187
34
*
3,676
20,693
219
108
181
82
8,041
2,292
6,430
4,084
3,213
Texas & New Orleans.
f Group B—
13
14
37
31
52
v
Quanah Acme & Pacific
St. Louis-San Francisco.
28
24
45
1
Weatherford M. W. & N. W
43,010
48,771
55,473
Total.
59,119
14,583
98
33
46,654
C. & St. Louis RR., and the
b Includes figures for the Boston «fe Albany RR., the C. C.
Michigan Central RR.
Col.
Ayres of Cleveland Trust Co.
Finds Vigorous
Expansion of Industry—Sees No Summer Slump
Imminent and Expects Further Advance in
Re¬
mainder of Year
"Business
activity
as
reflected by industrial
production
running this summer at levels not far
probably be 106."
The
level
100
1924
and
their
index.
considered
to
be
normal
1925, which the Federal statisticians
ing normal
kind of
was
Allowing merely
now
progress
for
in
the
take as
average
of
1923,
the present normal
now
or
so
higher than that.
the
within the next few months we may
of a statistical recovery almost
same time
fall far short of being a
that
country the curious anomaly
levels
industrial
will
which
satisfactory economic
of
or
social
production
the
at
We are achieving normal levels
accompanied by growing numbers of
recovery.
which
are
time there is a huge continuing
greatly reduced agricultural produc¬
tion, but only restricted advances in agricultural prices.
Banks are over¬
local
labor
amount
of
shortages while
at the same
unemployment.
There
flowing with
to
finance
excess
the
but
somewhat
even
of
loans
Railroad traffic has improved
proportion to industrial activity.
enterprise.
remotely
in
but the volume of new
third of what is was a dozen
developing in many cities,
are
building
is
deposits, but there is a most meager demand for
expansion
not
Housing shortages
still
is
only
about
a
years ago.
Moody's Daily Commodity Index Unchanged
Although
Ayres observes that "whatever allowances may
be made the important fact is that we have under way a
vigorous expansion of industry that has already lifted the
this
net
Prices
while
ably be
cotton.
he says:
According to the index of industrial production computed by this
sugar
bank,
preliminary estimates show output 9.4% below the estimated normal level
in June and 7.5% below in July.
Business activity is continuing vigor¬
a
Daily
new
Index
of
there
same as a
cocoa,
were
hides,
net
of Staple
Commodity
high of 188.9 this Tuesday, there
change for the week.
Friday, the
volume of
production to levels near those that may reason¬
considered normal."
In his further observations
Moody's
Prices established
was no
Colonel
improbable
seems
this
in
normal
increase in population, the correspond¬
be 113.
level might be about 15 points
in
further
advance
the base period' of
If further allowance were made for the
that took place in the three decades before the depression,
would
.It
to
residential
He adds:
will
production
the year.
have
below those that
were
representative of normal business in the years just
before the depression," says Colonel Leonard P. Ayres, VicePresident of the Cleveland Trust Co. of Cleveland, in the
company's "Business Bulletin," issued Aug. 15.
Colonel
Ayres goes on to say that "the physical volume of indus¬
trial production as measured by the index of the Federal
Reserve Board rose to 103 in June, and the July figure will
is
industrial
it is likely that
remaining months of
No summer slump seems imminent, and
ously in August.
week
corn,
The Index closed at 185.2
ago.
steel and wool advanced,
wheat and
declines for silk, rubber,
The prices of hogs,
silver, copper, lead, coffee and
remained unchanged.
The movement of the Index during
parisons, is
as
follows:
the week, with com¬
Volume
Fri.
Aug.
Aug.
Aug.
Aug.
Wed.
Aug.
Thurs. Aug.
Fri.
Aug.
Financial
143
14
15
17
18
19
20-21
Sat.
Mon.
Tues.
;
185.2
2 Weeks Ago, Aug.
Month
—
183.6
177.8
21—-—-167.1
7 & 9.
175.3
7
July 21
Ago,
187.6
188.9
187.5
Year Ago,
1935 High—
Low—
Mar. 18
1936 High—
Low—
Aug. 18
May 12
FOREIGN AND DOMESTIC WHOLESALE PRICE INDICES
(In currency of country; index on gold basis also shown for countries with depreciated
currencies—1913=100.0)
148.4
186.1
1147
Chronicle
188.9
162.7
Aug.
Oct.
—
Per Cent
*July,
xJune,
May,
July,
1936
185.2
1936
1936
1935
Change
June
to
July, 1936
United States of America
"Annalist"
Monthly
creased
Index
Activity In¬
Successive Month—At
of
Business
in
July for Fifth
Highest Level Since April, 1930
Business activity improved in
July for the fifth successive
and the
"Annalist" Index of Business
Activity
advanced to the highest level since
month
April, 1930, according to
monthly review by S. L. Miller in the "Annalist" (New
York) of Aug. 21.
The July index rose to 102.4% of normal
(preliminary) from 97.4 (revised) in June, 95.8 in May and
88.9 in February, the low
point for 1936.
The "Annalist"
the
adds:
/
Gains were made
available.
are
conspicuous in the advance
were
1—THE
"ANNALIST" INDEX OF BUSINESS ACTIVITY
COMPONENT GROUPS (REVISED SERIES)
July, 1936
loadings
Miscellaneous
car
AND
May, 1936
June, 1936
95.1
92.3
90.7
89.9
91.2
104.0
Other
97.2
96.9
93.1
*102.9
x99.3
*109.6
xlOl.O
95.2
100.3
97.0
91.3/
95.5
Wool consumption
Silk consumption
91.3
85.7
*113.5
99.4
141.5
118.8
105.4
108.4
1
89.3
70.3
68.6
77.2
—
Rayon consumption
65.9
U2 2
110.1
109.3
104.6
-1.1
145.4
374
322
104.0
103.8
101.8
149.2
146.4
145.4
136.2
51.9
Japan
51.2
50.5
47.1
-1.4
75.9
74.6
73.9
70.6
Hhi.7
_.
Gold basis
y"Annallst" composite In gold.
Preliminary,
Lumber
During Week Ended Aug. 15, According to National
Fertilizer Association
Advancing for the fourth consecutive week, the weekly
wholesale commodity price index compiled by the National
Fertilizer Association during the week ended Aug.
15
reached the highest point attained this year and also the
highest point since November, 1930.
Last week the index
stood at 80.3% of the 1926-1928 average, as compared
with 79.9% the previous week.
A month ago it registered
78.5% and a year ago 78.1%.
The announcement by the
continued
farm
rise in
Hogs, cattle, and poultry
index
were
higher during the week, raising the livestock
were
the highest point reached since April.
to
mixed, with
weakness
week
product prices and particularly in livestock
primarily responsible for the increase in the price index.
was
in
corn
certain
84.6
Mining
Zinc
production
grain
higher than it
a
was
year
Combined
82.8
66.2
small decrease in the index of textile prices.
83.7
trend in steel scrap more than
88.0
index..
*102.4
week with 11 price series included in the group advancing and 10 declining.
The decline in
cotton and a
raw
slight drop in cotton yarn resulted in
offset
*97.4
with
82.6
A small rise in the index of fertilizer material prices,
the result that
continued
*95.8
upward
a
slight advance was registered by the metal index.
in
movement
organic
brought about by
took
ammoniates,
the
index to the highest point reached since July, 1934.
TABLE
2- -THE
COMBINED
INDEX
SINCE
JANUARY,
1931
(REVISED
Advances
and
1936
1935
1934
1933
1932
1931
92.2
January
were
87.2
79.6
67.5
■ 73.4
15
declines;
88.9
86.7
82.2
66.1
71.4
89.4
84.4
84.6
62.5
69.8
*94.1
82.8
85.9
69.2
66.8
88.7
May
*95.8
81.8
86.4
77.3
64.3
87.7
June
*97.4
82.0
83.8
87.5
63.9
85.1
82.7
78.0
94.0
62.9
85.3
84.9
75.1
87.5
64.4
41
advances
1926-1928=100
87.5
April
advances
were 32
were
WHOLESALE COMMODITY PRICE INDEX
WEEKLY
Compiled by the National Fertilizer Association.
85.7
March
there
In the second preceding week there
and 16 declines.
84.1
February
a
group
*
.
registered by 28 price series included in the index during
the week and declines by 19; in the preceding week
SERIES)
a
A continuation of the rising
slight decline in pig iron and tin,
a
84.3
*
consecutive
although it is still
The food index remained unchanged last
ago.
104.5
112.6
84.7
fifth
the
slight drop took place in the price of cotton,
a
*113.2
—
For
quotations.
*112.9
89.8
-----
Lead production
Grain price movements
reaching the highest level in several years, but with
other
82.7
4
production
.
hl.9
*
129.8
*116.5
production
Cement
-
-0.2
y Includes also Belgium and the Netherlands; Ger¬
July, 1934; Italy from November, 1935.
*105.7
*119.6
--
-3.4
-
Revised,
x
many excluded from
62.6
i_
production
•
-0.4
378
86.9
Boot and shoe production
Automobile
63.0
66.5
67.5
67.8
-2.8
104.2
quotations
*133.2
Pig iron production
66,6
391
_.
Germany
A
100.0
Manufacturing
Steel Ingot production
-2.9
66.9
Association, under date of Aug. 17, continued:
Electric power production
Textile activity.
Cotton consumption
72.9
111.7
111.3
-
-
France.
and rayon
cotton
the durable goods they still failed to
equal their high levels in 1933.
Freight
71.6
112.2
Wholesale Commodity Price Average Further Advanced
consumption, boot and shoe production, freight car loadings other than
the miscellaneous group, and steel
ingot and pig iron output.
The group
of non-durable goods industries made the
largest* gains, although unlike
TABLE
[-3.6
72.1
112.9
68.4
United Kingdom
Gold basis.
by all components of the index for which July figures
Most
123.6
120.4
74.1
116.2
Gold basis
*
121.4
125.6
Gold basis
Canada
81.6
July
*102.4
August
—
-
September
86.1
71.4
82.0
68.5
October
89.1
74.6
78.5
69.8
92.0
76.0
75.3
69.2
82.4
77.5
68.8
♦
--
Preliminary.
x
78.5
Ago
Ago
July 18,
1936
1936
Aug. 17,
1935
82.6
Foods
28.6
Fats and oils
22.3
Cotton
Index of Wholesale Commodity
During Week Ended Aug. 18 to
Highest Level Since Beginning of Year—Continued
Rise in Foreign Prices is Noted for
July
73.5
98.9
78.4
75.9
78.5
69.0
73.2
89.9
78.5
72.9
71.5
82.5
79.3
commodities..
70.0
102.2
75.5
Miscellaneous
10.3
Weekly
82.4
75.0
93.6
102.4
-
Fuels
16.4
78.9
79.0
95.5
79.9
Farm products
Revised.
82.6
80.7
97.4
Cottonseed oil
Livestock
Prices
Year
Month
Week
Aug. 8,
Aug. 15,
1936
Grains
"Annalist"
'
Week
Group
Total Index
75.2
December
Preceed'g
'
Bears to the
75.6
96.7
Each Croup
75.5
November
Latest
Per Cent
79.3
79.7
75.0
77.4
76.8
77.6
64.5
69.2
7.7
Textiles
70.0
70.2
70.3
67.7
6.7
Metals
84.6
84.5
84.1
81.3
5.8
Building materials
81.8
81.7
82.8
77.5
1.3
Advanced
Chemicals
—-
and
the index rising to 129.0 on Aug. 18 from 127.4 (revised)
Aug. 11.
The "Annalist" added:
The rise reflected of
course
are'expected
of forced marketings.
the incidence of the drought, although live¬
to decline temporarily later in the
In addition tea
season as a
THE
Unadjusted for Seasonal Variation (1913=100)
Aug.
18,
1936 Aug. 11,
127.9
1936 Aug. 20,
*123.9
'
129.4
1935
120.4
128.3
135.8
*111.2
111.0
109.7
Fuels
165.7
X167.1
164.3
Metals
112.7
112.8
109.8
Building materials
111.8
111.8
111.4
Textile products
Chemicals
97.3
x97.3
87.0
87.0
All commodities
old dollar basts._
*127.4
92.6
92.0
80.3
79.9
78.5
78.1
Commodity Prices Unchanged During Week Ended
Aug. 15 As Compared With Previous Week
Wholesale
commodity prices remained unchanged at 81.1 %
during the week ending Aug. 15, it was
announced on Aug. 20 by Commissioner Lubin, of the
Bureau of Labor Statistics, United States department of
Labor.
"The all-commodity index for the second week of
August was 1.2 % above the level for the corresponding week
of a month ago," Mr. Lubin said.
"Compared with the
corresponding week of a year ago, the Aug. 15 index shows
an increase of 0.7%.
The Commissioner continued:
and
were
fuel
x75.5
75.0
material
declined 0.1%
As to foreign prices during July, the "Annalist" had
the
following to say:
commodities
x
Revised,
y
Based
on
Foreign wholesale prices turned vigorously upward in July, the "Annalist"
International Composite advancing to 75.9 from 74.6 in June, 73.9 in
May
and
is
a
low for the
now
depression of 70.5 established in March, 1935.
the highest since August,
1933.
advance, which reflected the short
sanctions,
demand
as
rearmament
a
indices show
demand,
a
The index
All major countries shared in the
on this continent, the
lifting of
crops
as
result of the progress
well
of
as
the
entirely
normal
rise
in
All the available weekly
continuation of the trend into August.
Primary commodity
recovery.
prices, as measured by the Statistique Generale 22-commodity index,
an equally sharp rise:
recording
and
lighting
materials,
and
Foods, hides and leather
miscellaneous
commodities
Two groups—metals and metal products and building
materials—remained unchanged at the previous week's level.
exchange quotations for France, Switzer¬
land and Holland; Belgium included prior to March, 1935.
Preliminary1,
Slight
reported for the farm products, textile products, chemicals
drugs, and housefurnishing goods groups.
products,
"Raw
*
All groups combined
United States Department of Labor Reports Wholesale
increases
127.2
76.5
1
92.6
declined fractionally.
129.0
on
92.6
\
82.8
y
73.0
Farm machinery
"Commodity prices in general were fairly steady during the week.
98.6
Miscellaneous
All commodities
64.5
73.1
of the 1926 average
WEEKLY INDEX OF WHOLESALE
COMMODITY PRICES
.
65.1
73.1
drugs
Revised.
was
"ANNALIST"
Farm products-.
Food products
95.4
66.9
73.1
100.0
r
result
higher, while butter, potatoes,
apples, lemons, cotton, wool, tin and rubber reported losses.
94.6
67.2
Fertilizers
.3
year,
stock prices
94.6
Fertilizer materials
.3
Sharply higher grain flour, cattle, beef and hay prices
carried the "Annalist" Weekly Index of Wholesale Com¬
modity Prices to the highest levels since the beginning of the
94.6
.3
are
the
all
prices
advanced
0.1%,
but
semimanufactured
and finished products remained stable.
commodities
other
other
than
than
farm
farm
products
products
and
articles
The level for both
(nonagricultural) and aU
(industrial) remained
foods
unchanged."
The
announcement
Lubin had the
Farm
made
following to
available
by
Commissioner
say:
product prices advanced 0.5%.
by the subgroup of grains and
a
A decline of 0.6% was registered
fall of 0.8% for the subgroup of other farm
products, including cotton, eggs, and fresh vegetables.
Livestock and
poultry advanced 2.9%, due to higher prices for cows, steers, hogs, and live
Additional farm product items which increased in price were
poultry.
barley, apples, hay, leaf tobacco, and foreign wools.
other
thand,
were
reported for corn, oats, rye,
lemons, and white potatoes.
Falling prices,
on
the
wheat, onions, flaxseed,
The current farm products index—83.6—is
Aug.
Chronicle
Financial
1148
1936
22,
DATA FOR RECENT WEEKS
3.5% above the level of
month ago and 4.1 % above the level of a year ago.
a
Advancing prices of fats and oils, menthol, and tankage largely accounted
for
drugs and pharmaceuticals
and
June
pillow cases and certain furniture
June 27-.
July
decrease in the Aug.
flour, corn meal,
canned
raw sugar.
Prices of cheese, fresh milk at Chicago, wheat
canped and dried fruits, canned vegetables, fresh beef,
The foods index—82.6—is 1.6% above the corresponding week
last month and 3.3%
Cattle feed prices
mobile tires
and
week's level.
below
the'corresponding week of last
and
the hides and leather
products
group to
metal
and
remained steady during
March
the week.
April.
May
1,699
1,703
1,723
1,592
1,712
1,650
1,627
1,650
1,630
1,637
1,427
1,415
1,432
1.436
1,465
1,643
1,629
1,643
1,638
1,678
1,692
1,677
1,691
1,688
1,725
1,730
1,733
1,750
1,762
Small increases were reported for South¬
the average
8,532,355
8,640,147
.
..
1,$36
1,727
1,723
Nov
Dec
6,024,855
6,532,686
6,809,440
7,058,600
6,978,419
7,249,732
7,056,116
7,116,261
7,309,575
6,832,260
7,384,922
7,218,678
6,931,652
7,094,412
6,831,573
7,160,756
7,538,337
1931
1932
1933
6,480,897
5,835,263
6,182,281
7,198.232
7,796,665
8,078,451
7,795,422
8,388,495
8,197,215
8,521,201
AugustSept
7,009,164
7.011,736
6,494,091
6,771,684
6,294,302
6,219,554
6,130,077
6,112,175
6,310,667
6,317,733
6,633,865
6,507,804
6,638,424
7,435,782
6,678,915
7,370,687
7,184,514
7,180,210
7,070,729
7,288,576
7,166,086
7,099,421
7,331,380
6,971,644
7,288,025
country's markets
Note—The monthly figures
following table shows index numbers for the main groups of com¬
mately 92%
Aug. 17, 1935, Aug. 18, 1934, and
85,564,124 80,009,501 77,442,112 86,063,979
93,420,266
TotaL
for the year 1926 as 100.00.
modities for the past five weeks and for
1,648
7,131,158
6,608,356
7,404,174 + 16.7
—
Oct—».
weighted according to their relative importance in the
on
+ 11.6
+13.9
+ 11.7
+ 12.9
+ 13.1
7,762,513
7,048,495
7,500,566
7,382,224
7,544,845
July
pig iron, scrap
china wood oil, and slate
includes 784 price series
Statistics
Bureau of Labor
1,539
1934
Ch'ge
1935
8,664,110
8,025,886
8,375,493
8,336,990
June...
roofingfdeclined in price.
The index of the
The
1,707
1,698
1,704
1,594
1,626
1,667
1,686
P. C.
Feb
building materials groups
Douglas fir lumber, copal gum,
steel, and pig tin.
and is based
1,690
1,654
1,662
1.435
1,442
1,441
1,457
1,342
1,416
1,434
1,440
FOR RECENT MONTHS (THOUSANDS OF KWH.)
1936
Jan
Bituminous coal advanced frac¬
and
29.
of—
moved downward 0.1% due largely to
products
22.
Month
yellow pine, rosin, turpentine, strip shingles, foundry
surfaced
1929
1,657
Auto¬
tionally and anthracite and coke prices showed no change.
metals
8..
15.
The index for the
decline 0.2%.
declining prices for California gasoline.
the
1930
1,621
1,610
1,635
1,607
1,604
1,645
1,651
1,644
1,542
1,578
1,698
1,656
1,684
1.658
1.659
1,674
1,648
1,627
2,079,137 1,821,398
2,079,149 1,819,371
2,093,928 1,832,695
1,839,815
1,809,716
1-.
DATA
for packer cow hides arid side leather caused
fuel and lighting materials group
Both
1931
of
and pulp remained unchanged at last
paper
25-.
year.
Crude rubber decreased 1.2%.
dropped 4.5%.
tubes
Lower prices
18..
Aug.
Aug.
Aug.
Aug.
Aug.
oleomargarine, edible tallow, and cocoanut oil were
pork, coffee,
higher.
11..
July
butter, rye flour, fresh pork, veal, dressed poultry, cocoa beans,
salmon, lard, and
4..
July
July
15 index occurred in the foods group
Important food items showing price decreases were
which declined 0.4%.
ern
13..
June 20..
1,655
1,665
1,675
1,688
1,556
1,648
1,664
1,724,491
1,742,506
1,774,654
1,772,138
1,655,420
1,766,010
1,807,037
1,823.521
1,945,018
1,989,798
2,005,243
2,029,639
1,956,230
2,029,704
2,099,712
2,088,284
6..
June
items.
cured
1932
1933
1934
1935
in the price of Japanese raw
slightly due to higher prices for sheets and
The largest
of Kilowatt-hours
Ch'ge
1936
silk and minor increases in
woolen broadcloth, Manila hemp, and bleached sheeting caused a fractional
advance in the textile products group.
Housefurnishing goods also rose
in Millions
P. C.
Week of-
the preceding week's level.
A sharp rise
Weekly Data for Previous Years
(In Thousands of
Kilowatt-hours)
and drugs group.
showed no change from
in the price level for the chemicals
of 0.5%
rise
a
Mixed fertilizers
shown above are based on reports covering approxi¬
of the electric light and power industry and the weekly figures are
based on about 70%.
•
Aug. 19, 1933.
(19261—-00.0)
June Sales of Electricity to
Aug.
Aug.
Aug.
July
July
Aug.
Aug.
Aug.
15
8
1
25
18
17
18
19
Commodity Groups
1936
1936
1936
1936
1936
1935
1934
1933
All commodities.
81.1
81.1
80.3
80.2
80.1
80.5
76.1
69.3
Farm products
83.6
83.2
81.5
81.4
80.8
80.3
68.9
57.5
82.6
82.9
81.0
81.0
81.3
85.4
74.1
94.4
94.1
94.0
93.8
90.1
84.2
70.5
70.3
70.2
70.1
70.5
71.1
74.1
Fuel & lighting materials.
Metals & metal products.
76.9
77.0
77.0
76.8
76.9
75.4
75.2
66.5
86.3
86.3
86.2
85.8
85.9
Building materials.Chemicals and drugs
86.9
86.9
86.8
86.8
86.1
85.1
86.4
78.8
78.9
79.1
79.0
78.7
75.9
82.5
82.4
82.6
82.6
82.5
81.7
82.9
76.4
Miscellaneous
71.1
71.3
70.5
71.3
71.4
67.2
70.3
81.1
81.0
79.7
79.5
79.3
.
Aug. 13 by the Edison
65.5
Raw materials
on
72.9
Housefurnishing goods
released
80.8
79.2
following statistics covering 100% of the electric light
90.9
70.6
The
and power industry were
Electric Institute:
64.4
94.2
Textile products
Ultimate Consumers Reach
7,264,103,000 Kwh.—Total Revenues Rise 8.3%
Foods
Hides &
leather
products
86.3
86.1
SOURCE
DISPOSAL OF ENERGY AND
AND
SALES
TO ULTIMATE CONSUMERS
Month of June
80.8
*
#
*
*
*
*
Percent
1936
*
Seml-manufact'd articles.
75.5
75.6
,75.5
75.5
75.2
*
Finished products
82.2
82.2
81.7
81.6
81.4
*
farm products
All commodities other than
80.6
80.6
80.1
80.0
79.9
80.5
77.6
71.8
►
79.6
79.6
79.4
79.5
79.4
78.0
78.4
•
1935
Change
Kilowatt-hours Generated (Net)x:
74.2
5,573,337,000
2,932,266,000
4,173,597,000
3,118,393,000
+33.5
generated-.
8,505,603,000
7,291,990,000
+ 16.6
Energy purchased from other sources
172,341,000
113,951,000
193,740,000
73,680,000
+11.0
+54.7
286,292,000
267,420,000
+7.1
41,848,000
109,900,000
41,409,000
113,827,000
—3.4
151,748,000
8,640,147,000
1,376,044,000
7,264,103,000
155,236,000
—2.2
7,404,174,000
1,256,804,000
+ 16.7
+9.5
+ 18.2
By fuel
By water power
-—
—6.0
All commodities other than
Additions to Supply—
farm products and foods
*
Total kilowatt-hours
.
Net international imports
Not computed.
.j
Total
Deductions from
Chain
StoreJ Trade
Business
Expansion
Rapid
Continues
Energy used in electric and other depts
the chain stores in July continued its
sharply upward course, according to "Chain Store Age,"
sales in some departments increasing to new high levels,
while elsewhere trade held strongly to record proportions
previously attained.
The publication further reported that:
Total
Total energy for distribution
Energy lost In transmission, distribution, &c.
Kilowatt-hours sold to ultimate consumers.
100.
year
were
was
14%
approximately
gain shown this
Large light and power (wholesale)
higher.
Electrified steam.
This is the greatest comparative
the same
month last
year
96.5.
year
for
Moreover,
a
marked
the first
month
that
the
revenue
from ultimate consumers
compared with June
as
+23.6
+4.4
+4.5
+ 14.6
+41.1
331,473,000
65,022,000
48,531,000
6,147,370,000
$151,436,900
+ 18.2
+8.3
Twelve Months Ending June 30
Percent
1936
1935
.
Change
Kilowatt-hours Generated {Net)x:-
follows:
61,563,896,000 52,981,067,000
36,722,931,000 34,109,595,000
By fuel
....100.0
vs.
.125.0
vs.
•_
122.4
vs.
95.8 in
117.8 in
119.2 in
By water power
June
+16.2
+7.7
87,090,662,000
+12.9
+5.0
June
Total kilowatt-hours
98,286,827,000
3,009,587,000
1,943,984,000
Total energy for distribution
99,352,430,000
Energy lost In transmission, distribution, &c. 16,450,303,000
Kilowatt-hours sold to ultimate consumers
82,902,127,000
Total revenue from ultimate consumers
$1,981,647,800
June
generated...-l
115.1
vs.
116.7 in
June
Purchased
118.3
The grocery, apparel and drug index
vs.
125.0
June
Energy used In electric railway & other depts
figures in July represented
in
new
highs.
(net)
energy
-
-_
Weekly Electric Output 14.3% Above
Edison
+ 16.4
with or better than the average
Shoe chains
The
+8.0
1,094,729,000
for the various groups covered by the review
Grocery chains
Apparel chains
Drug chains
5-and-10-department chains
! )
1,059,338,000
3,395,842,000
152,435,000
index
grocery
for the 1929-1931 period.
The July index figures
6,147,370,000
the index
total advance of 13.1 points from the January low of
July
touched 100.0 thus making all groups even
7,264,103,000
$164,007,200
Total sales to ultimate consumers
Total
figure this
—
Municipal and miscellaneous
96.4.
The rise in July marked the sixth successive monthly advance in
159,124,000
346,241,000
74,498,000
68,464,000
Municipal street lighting
Railroads—Street and interurban
month of 1935, sales for July this
The index figure in
year.
1,144,307,000
1,274,511,000
4,196,958,000
Commercial—Small light and power (retail)-
"Chain
In June the index stood at 108.0.
As compared with the corresponding
_
Sales to Ultimate Consumers {Kwh.)—
Domestic service
Store Age" index, advanced to 109.6 of the 1929-1931 average for the month
as
+ 1.1
among
The state of trade in the chain store field in July as reflected in the
taken
Supply—
Energy used in electric railway departments
a
87,984,928,000
15,055,789,000
72,929,139,000
$1,874,423,400
—1.5
+ 12.9
+9.3
+13.7
+5.7
Important Factors—
Year Ago
-
Per cent of energy generated by water power
Domestic Service (Residential Use)—
Electric
Institute, in its weekly statement,
disclosed, that the production of electricity by the electric
light and power industry of the United States for the week
ended Aug. 15, 1936, totaled 2,093,928,000 kwh.
Total
output for the latest week indicated a gain of 14.3% over the
2,867,<609,000
1,973,343,000
,
39.2%
37.3%
consumption per customer (kwh.)
697
648
+7.6
Average revenue per kwh. (cents)
Average monthly bill per domestic customer
4.86c
5.20c
—6.5
$2.82
$2.81
+0.4
Avge.
ann.
Basic Information as of June 30
corresponding week of 1935, when output totaled 1,832,695,000 kwh.
1936
Electric
output during the week ended Aug. 8 totaled
2,079,149,000 kwh.
This was a gain of 14.3% over the
1,819,371,000 kwh. produced during the week ended Aug. 10,
1935.
Generating capacity
Waterpower
9,011,600
499,400
33,477,500
33,183,543
(626,271)
21,333,916
(545,053)
(214,107)
20,815,457
3,777,444
495,783
62,138
Internal combustion
The Institute's statement follows:
1935
23,731,860
8,950,319
501,364
3,747,876
505,135
69,905
23,966,500
(kw.)—Steam.
Total generating capacity in kilowatts
y
Number of Customers—
PERCENTAGE
INCREASE OVER PREVIOUS YEAR
Farms in Eastern
area
Farms in Western area
Major Geographic
Regions
Week Ended
Week Ended
Aug. 15, 1936
Aug. 8, 1936
Week
Ended
Aug. 1, 1936
New England
Middle Atlantic
14.7
15.9
12.7
Week Ended
July 25, 1936
12.2
13.3
14.0
10.9
17.1
16.5
18.2
7.4
10.6
15.7
Southern States
18.7
15.5
18.4
17.4
Rocky Mountain.....
12.8
15.0
16.0
19.2
8.6
10.6
9.5
12.6
•14.3
14.3
14.2
14.5
(Included with commercial, large)
Domestic service
Commercial—Small light and power
Large light and power
Other ultimate
18.2
13.1
z
consumers.--
z
(233,767)
9.7
Central Industrial
West Central
(included with domestic)
Pacific Coast
Total United States.
Total ultimate
x
As
reported to
25,669,281
consumers
the
with deductions
enterprises,
Federal Power Commission,
plants not considered electric light and
power
25,138,373
for
certain
Old series both years—subject to revision.
z Includes
a
reclassification of 30,300 farm customers formerly classified as
residential to adjust for differences in certain States of 1935 farm census data and
y
company records.
:(vl
Volume
Financial
143
Above Year Ago—Canadian
Industrial
The volume of new Ordinary Life Insurance (exclusive of
Group insurance) sold during July was 6 % greater than dur¬
ing July 1935, according to figures compiled by the Life
Insurance
Sales
Research
Bureau, of Hartford, Conn.
Approximately three-quarters of the companies reporting to
the Bureau experienced increased production, and in every
section of the country more Ordinary insurance (exclusive of
Group) was sold this July than during the same month a
year
ago, said an announcement issued Aug. 19 by the
Bureau, which added that the figures arefbased on reports
from companies having in force 90% of the Ordinary in¬
surance outstanding in the United Stated and are compiled
by States.
In its summary of sales of life insurance in
Canada during July the Bureau stated:
The volume of
small
the first
seven
the
lower
than during
started
in
Awarded
the
37
east
1936 total, $72,093,600
was
of
while the total for July 1935 amounted to only
2.0%
of
cost
0.5%
year
a
sundries
of
lower in
in
ago,
July
and 9.1% lower than in July, 1929.
Cost of
Housing
20
78.1
77.6
+0.6
Clothing.
12
73.0
73.3
—0.4
77.8
78.0
—0.3
68 il
68.6
—0.7
Men's
84.7
84.5
83.0
82.6
+ 0.5
Gas and electricity
88.0
88.4
—0.5
30
b94.4
b94.3
+0.1
100
b85.2
b85.1
+0.1
117.4
117.5
—0.1
5
Weighted aver, of all items
THE
New Floor
a
Valuation
Based
20,501,200
17,543,200
Total construction
718,100
38,762,500
294,734,500
13,114,500
8.287,700
163,700
48,394,800
56,969,100
53,893,600
21,565,900
159,257,500
46,481
22,485
116,433,800
108,886,800
9,533
3,321,800
406,838,300
585,858,500
539,378,500
Public works and utilities..
Total construction
78,499
7,560
51,829,000
896,500
256,568,400
315,813,300
283,382,600
63,968
123,471,000
855,764,300
.
Total construction
CONTEMPLATED
1,532,075,300
70.745,500
20,924
Public works and utilities
228,642,400
35,484
1935—Residential building
Non-residential building
WORK
REPORTED—37
STATES EAST OF THE
ROCKY MOUNTAINS
No. of
No. of
Valuation
Projects
9,268
3,023
1,525
$109,698,400
98,484,100
107,329,300
7,160
4,728
2,026
$80,379,400
190,275,600
13,816
315,511,800
13,914
418,129,500
57,568
34,485
10,436
672,403,400
705.851,400
700,305,800
43,038
27,795
11,558
682,545,800
905,819,500
1,460,510,100
92,469
$2,078,560,600
82,391
$3,048,875,400
Month of July—
Residential building
Non-residential building
Public works and utilities
Total construction
Valuation
147,474,500
First Seven Months—
Residential building
Non-residential building
Public works and utilities
Total construction
Business
Index
During July Highest
According to Bank of
Since
September,
1931,
America (California)
J
1935.
ac¬
of the National Industrial
Conference Board, made public Aug. 17,
Preliminary re¬
ports, says the Board, indicate that output reached a point
slightly above that of November, 1935, the preceding high
record.
Production rose in the United States, Canada,
Great' Britain, Germany, Austria, Sweden, Denmark, Po¬
land, Switzerland, Czechoslovakia and in most of the Cen¬
tral and South American countries.
Little change occurred
in Italy, The Netherlands, Japan, Australia and Argentina.
Output declined in France, Belgium and Spain, says the
Board, which reports further as follows:
in Great Britain rose
further gains in the capital
goods industries and continued improvement in building activity.
Opera¬
tions in the coal mining and cotton textile industries, which are dependent
to a large extent upon foreign markets, remained
depressed.
Output in
France and Belgium was seriously curtailed by labor disturbances during
June.
Although the major disputes were settled by the early part of
July, business conditions showed
little immediate improvement.
The
outlook -.in The Netherlands is somewhat unsatisfactory, with the gain in
shipbuilding offset by declines in the coal and leather industries.
Output
in
Germany again advanced;
most of the' improvement shown during
loadings
gained 23.9%
car
over
July of
construction
over
recorded
the
upward with
a year ago.
an
increase of 11.9%
while
year.
advance
World
at
67.4
with
for July
over
;
the
a
con¬
cor¬
.
industries,
principally
as
result
a
materials and foodstuffs remained substantially
The combined index of nine commodities stood
(1928 equals 100), an advance of 8.0% over the same month last
by
raw
during June.
gains
prices
in
was
cotton, coffee and rubber prices were offset
sugar,
tin and tea.
The recent sharp rise in world
sufficient during June to produce / any material
declines
substantial
wheat
of
prices
Small
year.
in
not
change in the average for the month.
Wholesale commodity
Britain,
Great
advanced during June in the
prices
France
some
October,
The
of
increase
in
April,
have
upward
countries
although
1.2%
1936.
declined
Further
Germany.
United States,
increases in
these
Preliminary June figures for The Nether¬
commodity
prices,
the
first
reported
rise
1935.
Conference
an
11
and
indicated for July.
are
show
since
shows
Retail sales
heavy
last year.
bank
16.3%.
outstanding
the like month of last
1935,
the
com¬
loadings, and bank debits.
debits increased 14.4% and electric power production
in
been
has
governmental expenditures for public works and rearmament.
The gold value of world trade during . May increased
moderately over
the preceding month.
The combined index of 75 countries stood at 36.5
(1929 equals 100), an increase of 4.6% over the corresponding month
of
lands
The gain in the Index was due to substantial increaes in all three
largely as a result of
level,
high
months
recent
countries
ponent factors, electric power production,
analysis shows that business activity
Board's
new
a
Canada,
The Bank also stated:
production advanced during June,
industrial
World
unchanged
The index of far western business for July of the Bank of
America, head office San Francisco, registered 75.4, reaching
the highest point since September, 1931, according to the
August issue of the Bank's "Business Review." The July,
1936, index gained 2.3% over June and 14.9% over July of
responding month
the Previous High Record
—Activity in Great Britain at New High Level
the National Industrial Conference Board Reports
to
Projects
move
Production in June Slightly Above
That of November, 1935
The
1935
1936
tinued to
Industrial
World
cording to tbe monthly statement
1936—Residential building
Non-residential building..
and
Bureau of Labor Statistics,
for dates prior to June, 1936, are
offices of the National Industrial Conference Board.
$71,993,700
96,125,200
126,615,600
First Seven Months—
Building
food price indexes of the United States
on
+0.2
July 14,1936, and June 16,1936.
b Revised series.
Figures on revised basis
10,929
Public works and utilities
+ 0.2
Coal
Sundries
6,356
3,325
1,248
Non-residential building
July 1936
33
a
Women's.
Space (Sg. Ft.)
to
b85.6
first
13,890
1935—Residential building
gain of 67.3% for July
June 1936
b85.8
Food,
-
car
Per Cent of
Increase(+) or
Decrease (—)
from June 1936
the
Living
July 1936
Budget
available at the
Total construction
western
in July, 1936, as com¬
1923 =100
in
Fuel and light
OF
0.6%
June;
in
Indexes of
Relative
Importance
$80,371,100
8,253
3,626
2,011
Public works and utilities
Far
higher than
0.1%
was
dollar was 117.4c.
purchasing value of the
Item
July—
1936—Residential building
Non-residential building
Western
July than at the beginning of the
pared with 117.5c. in June, 1936 ; 121.4c. in July, 1935, and 100c. in 1923.
For non¬
EAST
which
than in
lower
is ascertained as of January and
electricity, which
was
MOUNTAINS
No. of
Projects
Far
7.2%
but
ago,
year
a
and
gas
year,
0.9% lower than
cost
than
higher
Purchasing value of dollar.
NEW
Since the low
seasonally, 0.5%, from June to July,
prices moved upward
The
against only $855,-
STATES
AWARDED—37
ROCKY
Month of
June to July amount¬
1936, was 1.9% below
July,
of
increased 20.3%.
clothing prices have
them
level
higher than in July, 1935, and 4.6% lower than in July, 1929.
months of 1935.
seven
CONTRACTS
price
25.3% below that of July, 1929.
July, 1935, and
The
$53,893,600.
months of 1936 amounted to $1,532,564,500 as
CONSTRUCTION
The clothing
$96,-
Total construction work started in the 37 eastern States during the
764,300 for the corresponding
1935, rents have advanced
they are 15.1% below
but
1929.
1929.
year;
the July 1935
description amounted to
every
24.6%,
1934,
January,
July,
Since
July.
since
July of each
The June figure for
building figure totaled $56,969,100.
projects of
upward trend in evidence since January, 1934,
Family
residential building the June volume was $79,078,900 while
seven
to
with $73,604,600 for
compares
this class of work in June and $48,394,800 for July of last year.
civil engineering
their
June
jobs of all types.
figure for residential building
non-residential
from
July,
1933,
The
of the
for residential building;
4.8%
21.1%
which made them
July,
to
1929.
on
of
125,200 for non-residential buildings of all descriptions; and $126,615,000
The July
July,
0.4%.
to
Coal
July
in
States
June
from
and
level
that
of
with sales in the
Rocky Mountains during July was larger in volume than was
reported for any other month since June 1931 according to
F. W. Dodge Corporation.
The July total, which incident¬
ally was larger than for any other July since 1930, amounted
to $294,833,800 and compares with $233,054,600 for June
and with only $159,257,500 for July 1935.
for civil engineering
in
made
Contracts
work
July, 1929,
Aug. 15, its advices adding:
on
0.2%
rose
continued
July,
Construction
1933, the low
Clothing prices again declined, the decrease from
previous twelve month period.
Of the July
than
10.8%,
the
shown in the
An increase of 1% was also
reports
prices
Rents
Saskatchewan and the
Quebec,
volume sold during the last twelve months when compared
Construction
Board
Food
Increases
a year ago.
of
18.8% higher than in April,
1935;
groups
Industrial Conference
living in July was 3.4% higher than
National
the
says
cost
the major
of
each
of
higher than in July, 1935; 40.4% higher than in March, 1933, and
ing
months of 1935.
The
July,
rising 0.6%
months of the year were 3% greater
seven
clothing,
because of
June to July,
from
cost
the
in
in the United States ad¬
earners
wage
point of the depression, but 15.1% lower than in
colony of Newfoundland.
Sales for the first
increases
Board.
in
of
costs
moderately, 0.1%,
except
Ordinary Life Insurance sold in the Dominion of Canada
experienced in all Provinces except
were
Living
vanced
-
during July was 1 % greater than the volume for July
1149
Increased
Sales Increased 1%
Summary
Mi '
Living Advanced Slightly from June to July—
in
Year 3.4%
According to National
Conference Board
Cost of
July 6%
Life Insurance Sales in United States During
-
Chronicle
Board's
trend
was
below
Prices
survey
during
about
the high
in
Paris
sharply during
of security prices in the leading markets
July.
1.0%
The
above
level
showed
the past
for
average
that
for
of the combined
the
preveding
the recovery period,
some
recovery
three weeks.
early
in
index
month,
reached
July,
in
but
1.6%
cline in
in
The Dominion Bureau
of
in
employment
10% above last year;
almost
or
July was 82.2% „of the 1923-25 average,
the payroll index at 76.3% of the three-
been little interruption
that
about
was
average
of approximately $19,571,000.
July, receiving a weekly payroll
in
rainfall has delayed operations
nearly 32% higher than in July, 1935.
Estimates show
886,000 wage earners were employed in Pennsylvania factories
year
Though
slight change,
industries increased during the month
about 2.7%, but wage disbursements declined 1.2%.
Industries producing
consumers' goods in total recorded gains of 1.6% in employment and 3.2%
in payrolls, owing largely to increased activity in the textile group, which
usually shows a decline at this season, and to more than seasonal gains in
several other industries.
/.
hourly earnings continued to show
Employment in the durable goods
conditions
employment
to
tbe
Delaware,
in
and number of hours worked.
Compared with a
employment was almost 11% higher and payrolls 22% greater.
payrolls
3%
ago
year
Wheat
Week Ended
Movement,
week ended Aug. 8, 1936,
harvested in Canada is
1929 weekly average of production and
of
62% of 1929 shipments. Although for the seventeenth con¬
secutive week reported new orders were below production,
the heaviest of any week in 1936
were
Production
1931-35, according to a report issued Aug. 15 by the
of Agricultural Economics, at Washington.
The
points out that while the official Canadian estimate
will not be available until early in September the Dominion
Bureau of Statistics at the end of July estimated the spring
years
Bureau
except two.
Bureau
also heaviest of any 1936 week except two;
was
March with one excep¬
shipments were lowest since early
Reported production during the week ended Aug., 8 of
7% fewer mills was 2% above revised production figures
tion.
wheat
»
the first two weeks of August. As
harvested three or four weeks earlier than usual.
Both yield and quality have suffered from this forcing.
The area sown to wheat in the three Prairie Provinces this year is esti¬
mated at 24,160,000 acres compared with 23,293,000 acres last year, an
increase of 3.7%.
These Provinces usually produce about 94% of the
Drought conditions continued during
0.5% above that week,
orders
National
result, wheat is being
regional
Association from
Manufacturers
Lumber
associations covering the operations of important
and softwood mills.
ended
8
Aug.
16% below output.
6%
were
Aug. 8
below
1,
was
output.
shipments
production;
were
Canadian wheat crop.
business of the previous
new
Total supplies
2% below production; shipments
Production in the week ended
by reporting softwood mills 19%
shown
was
below
Reported
week, ended Aug.
hardwood
business during the week
Reported new
3%
was
orders
of
Mills,
and
249,441,000
248,159,000
+
Wheat Crop Expected to Be Smaller
Any of the Past Three or* Four Years
European
Southern
pine,
Aug.
regions
above
those
and
Southern
but
Northern
Lumber
wood
feet;
booked
feet;
237,739,000
the
only
week
were
production
Northern
hemlock
showed
production
reported for
totaled
pine
shipments
the
239,063,000
week
feet,
or
Northern
and
reported
hemlock
crop,
or
feet,
9,604,000
or
9%
mills
Identical
Last
week's
feet, and
a
203,387,000
and
production,
year
feet
ago
it
and
173,205,000
give
as
below production."
was
438
Mill
identical
of
week, and all
excellent
above that of
ended
Aug.
4% below
8,
last year.
1936, by
new
feet,
business
Production
as
was
week
of about 1,492,1,573,535,000 bushels in 1935.
Of this, 359,000,000 bushels represent the Danubian crop and 1,133,000,000 the crop in the other countries.
In 1935 the Danube Basin pro¬
duced 301,690,000 and the other countries 1,271,846,000 bushels.
Were it not for the larger export surplus in the Danube Basin, imports of
overseas wheat by the deficit producing countries of Continental Europe
were
10,686,000 feet.
and
all
Europe, except the Soviet Union, an outturn
would show
increase in
Reports
softwood
year.
000,000 bushels is expected, compared with
of the
10,378,000 feet,
same
last
For
469 soft¬
production
the
reported for the
202,461,000 feet;
176,541,000
is not expected to be greatly different from that
In the Danubian countries, however, an
crop was harvested the report states; it adds:
says,
Northern pine
;
Shipments as reported for the same week were 208,541,000
16% below production.
Production was 247,862,000 feet.
Shipments
it
all but
above last year's
1935
was
241,299,000
were,
respectively,
received,
orders
Nevertheless, some significant
expected this season, says
particularly in view of the desire of some countries to build
a
feet.
«
up
their stocks.
+
Farmers' Cash Receipts in
As
Report
Canadian Crops by Bank of Montreal—
Crop Returns Expected to Be Higher than
Anticipated
on
Wheat
In its weekly report on the crops of
Canada, issued Aug. 20,
the Bank of Montreal states that "while the western wheat
the whole will be light recent reports indicate that
higher than had previously been antici¬
pated," the Bank goes on to say:
crop
on
the returns will be
The threshed wheat is grading high and is of excellent milling
quality.
Although harvesting has been interrupted by scattered rains cutting is well
advanced and threshing is becoming general.
In Quebec crop prospects
continue to be encouraging.
In Ontario prolonged dry weather has reduced
prospective yields of most field crops and rain is still urgently needed.
the maritime provinces
crops
are
weather conditions continue favorable
but rain would now be beneficial.
In British Columbia
to
growing
First Half of 1936
Increased
Compared with Same Period in 1935
by farmers from the sale of their principal
showed increases in all agricultural regions dur¬
ing the first half of 1936 over the same period last year,
the Bureau of Agricultural Economics reported on Aug. 15
in making public the detailed figures of income by regions
and States.
It is announced that cash receipts from the
Cash receipts
products
sale
of
farm
products
first half of 1936
amounted
to $3,132,000,000
in
the
compared with $2,670,000,000 in the same
period of 1935.
Gains for the six months' period ranged
from 6% in the South Central States to 22% in the West
North
Central
Some
In
most crops
progressing satisfactorily under favorable weather conditions.
sharp Increase this season.
European imports of wheat may be
the bureau,
232,305,000
mills,
shipments
the European
of the past three or four years, according to a report
17 by the Bureau of Agricultural Economics.
According to the Bureau threshing results confirm estimates
of greatly reduced yields this year in the Mediterranean
countries and North Africa. In central and norther European
countries where threshing will continue through August, the
issued Aug.
feet;
during the
hardwoods
orders above
continental Europe, excluding the
will be smaller than any of
Union,
than
crops
preceding week were:
shipments,
Southern
and
reported
2% below production.
feet
218,145,000
for the
corresponding week of
Reports from 95 hardwood
or
shipped
figures
Soviet
mills.
same
feet,
Coast
showed
but
of
cypress
orders
mills
The total wheat crop of
produced 258,448,000 feet of
mills
Only Northern hardwood reported shipments above output.
8.
softwood
orders
Devised
252,550,000
West
which
All
547
feet.
reporting regions
ended
8,
combined;
feet.
production,
590;
orders,
softwoods
Canadian Government at
bushels on the same date last year.
above
The Association further reported:
During the week ended Aug.
Canada on July 31 were
108,747,000 bushels compared
of old stock Canadian wheat in
estimated by the
with 203,273,000
corresponding week of 1935; shipments were 15% above and
orders 34% above shipments and orders of last year's week.
hardwoods
yields for all Canada this year at only 45% of the long¬
yield per acre. The Bureau went on to say:
time average
shipments were 8% below, and new
according to reports to the
of the preceding week;
drought the 1936 wheat crop, now being
expected to be far below the average
320,000,000 bushels produced annually during the five
Because of the
The lumber industry during the
they
to
Economics
Aug. 8
stood at 71% of the
Greatly Reduced by
Bureau of Agricultural
Crop for 1936
According
Drought
ReportJ|of| Lumber
has
Wheat is of exceptionally high
Wheat stem sawfly is doing
injury.
Canadian
Weekly
day or so at some points but there
a
and will probably cause
considerable damage in southern
Alberta, particularly in areas of good crop.
Grasshoppers have migrated
to the good crop areas, doing some damage to wheat but more serious on
coarse grains.
Injury to wheat has been lessened by the rapid ripening.
Fairly severe hail damage occurred at scattered points in Alberta, but
Saskatchewan escaped injury.
Over the West as a whole, the soil is hard
and dry and unless abundant rains come soon, fall cultivation will be impos¬
sible and second growth on stubble negligible in relieving the feed situation.
Heavy thunder showers were general over central Manitoba on Monday
morning and stopped threshing operations for the day.
Phila¬
reported gains of 5% in employment and about
factories
Delaware
for
this account.
Stem rust of wheat is fairly common
past week.
some
delphia Reserve Bank stated:
in
on
barley are poor, outside a few favored areas. In
general, yields so far have borne out earlier expectations although in some
cases they have been a little better than anticipated.
Deliveries of wheat
at country elevators have been heavy.
Precipitation over the southern
areas was light with heavy showers in northern districts,
particularly in
Alberta.
Temperatures continued above normal in all districts during the
than
As
issued on
quality while oats and
weekly earnings of approximately $22.44 in July were a little
in June, they were about 20% higher than last year.
Average
average
lower
of Statistics, at Ottawa,
correspondents are agriculturists of the Dominion and
Provincial Departments of Agriculture, but in Manitoba and
Alberta, a number of selected private observers and grain
men
also cooperate in this service.
The Meteorological
Service of Canada, Toronto, supplies official weather data.
The summary of the report of Aug. 18 follows:
Harvesting is now well advanced over the Prairie provinces and threshing
is proceeding rapidly, aided by continued warm dry weather.
Scattered
reported as follows:
index
Dominion
Aug. 18 the 13th of a series of 15 weekly telegraphic reports
covering crop conditions in the three Prairie Provinces.
Fifty correspondents distributed over the agricultural area
supply the information on which the reports are based
according to the Bureau, which states that most of these
the rolls of Pennsylvania
factories increased 1.6% from the middle of June to the
middle of July, but wage disbursements declined slightly—
1/10 of 1%—according to indexes compiled by the Federal
Reserve Bank of Philadelphia from reports received from
2,285 manufacturing establishments employing 480,400 wage
earners
whose weekly payroll
amounted to $10,783,000.
Ordinarily, in July there is a decrease in employment, says
the analysis, and a decline in payrolls of larger size than
that reported this year.
Working time, as reported by 90%
of the firms, declined nearly 1%.
The Bank on Aug. 17
The number of wage earners on
The
Canada
Statistics
Reports Harvesting
Well
Advanced and Threshing Proceeding Rapidly
Factories
in Delaware
Conditions in
Crop
of
Bureau
from Mid-June to
Factories
of
Summary
Employment in Pennsylvania
Mid-July—Slight De¬
Wages—Gains in Employment and Wages
of
Increase
further
Au& 22» 1936
Financial Chronicle
1150
products
groups
States.
of
products, such as meat animals, dairy
averaged slightly higher in price the
and fruits
first half of this year than in the first half of 1935, accord¬
ing to the Bureau, which reports that in general, however,
Volume
quantities
whole
in cash receipts was due to the larger
the gain
of
products sold, since prices of farm products as a
averaged slightly lower this year than last.
received, in addition, payments from the govern¬
covering the first six months of 1936 amounting to
$169,000,000, which was about 40% less than the government
payments in the first half of 1935, says the Bureau, which
has the following to say regarding receipts by regions:
Cash receipts from sale of principal farm products in the North Atlantic
region for the first half of 1936
period
last
The higher
year.
marketings of apples,
from
in
nearly
all
items,
and the larger
received for potatoes
prices
In
the
total
increased receipts
accounted for the region's gain
North
Central
10%
a
States
48%
a
increase
sale of
in a
the
from
increase
livestock
from
resulted
items,
for
income,
apples,
the latter
although
well
as
from
as
in
were
receipts
nearly
all
other
from
livestock
grains,
items
eggs,
contributed.
the
In
farm
products
products
in
the
In
the
tobacco
and
the
first
were
and
South
this
of
than
receipts
from
this
gain
In
States
The
year.
the
6ame
as
larger receipts from potatoes, citrus fruits,
from
as
income
15%
hogs,
from
in income
cattle
truck
and calves,
hay
crops,
from marketings
than
more
and
and
eggs,
compared with
as
1935.
livestock
than last
year
the
and
crop
Western
marketings
6% higher the first half
were
year.
States, larger
receipts
from
potatoes,
items,
resulted
principal farm
first
receipts from the sale
half
of
1936.
Each
of
in
States
in
this
showing gains ranging from 3%
in
Arizona
California
the
smaller amounts
the
larger
from
the
receipts from citrus
truck
crops
as
a
fruits, and
citrus
12% increase in this
a
products
during the
region shared
fruits
result of
than
more
the
in
41% in
to
lower
the
in¬
Colorado.
offset the
prices received
latter.
Farm|Income for Last Six Months This Year Expected
Exceed
That
of
Same
Period
Year
Ago,
with
Continued Advance in Prices of Farm Products
Farm income for the last six months of 1936
probably will
continue to exceed that of the same period last
year, the
Bureau
of Agricultural
Economics
said in
statement
a
is¬
sued
Aug. 18, on the trend of farm products. A part of the
larger income which farmers received during July was due
to sales of livestock in the drought area because of feed
shortage, it is noted by the Bureau, which states that as
in
1934, the drought has resulted in considerable advance
in
prices of farm products at the end of the marketing
period for 1935 crops.
As new crops begin to move to mar¬
ket, however, it is likely that although income from these
sales will
increase, the gain will be less than is usual for
this
season
said
in
of
The general
during the
level of
prices
slight
year,
says
farm prices
last month,
advances in
offset
the
the
Bureau,
which
further
'
part:
of
to
appears
continuing the
all grains
have
rise which
advanced
began
and dairy products
in
considerably
Sharp
May.
have much
than
more
declines
which occurred in prices of livestock,
wool, and
prices advanced sharply during the latter part of July and
early August caused largely by deterioration in the Canadian
crop.
cotton.
The
pre-war
Wheat
index
of
prices received
Increase
by farmers
compared with
average,
in
in mid-July was 115% of the
107 in June and 102 in July 1935.
Sugar Consumption for 11
European
During First 10 Months of 1935-36—
Compared with^Same Period in Previous
Countries
Crop
as
Year
Sugar consumption for 11 European countries
during the
of their 1935-36 crop
(Sept. 1 to June 30)
amounted to 5,524,879 long tons, raw
sugar value, an in¬
crease of 90,613
tons, or 1.7%, compared with the amount
first 10 months
consumed
during
according
B.
to
the
W.
Production
5,077,58o tons,
ing to the
amounted
0.5%,
corresponding
Dyer
for
&
Co.,
the
period
sugar
same
a
year
ago,
economists
countries
and
totaled
decrease of 452,784 tons, or
8.2%, accord¬
advices, which state that stocks on June 30
2,494,201 tons, a decrease of 11,929
a
same
to
tons,
compared
with the stock figure on
The countries included in the
report are
Czechoslovakia, France,
land, Rumania, Sweden
Germany,
June
30
or
1935.
Austria, Bulgaria
Holland, Hungary Po^
and the United
Kingdom.
*'
♦
t
Cuba
Potentially Filled on July 31 83.14% of 1936 Sugar
Quota, According to New York Coffee and
Sugar
Exchange
Cuba to July 31 has
potentially filled 83.14% of her 1936
quota for consumption in the United States, the New York
Coffee & Sugar Exchange finds from
official figures.
In
indicating this on Aug. 17, the Exchange said:
Export permits have been granted against
1,278,114 Spanish tons from
31jand, prior]to Jan. 1, permits were approved for the ship¬
250,196 tons against the 1936 quota, 160.000 tons
actually arriving
here before
the]first of the year.
The balance of the quota for
shipment to
Jan. 1 to July
ment of
crude
oil
during September, while
stocks.
'
barrels
in
•
of foreign crude oil were set at
Bureau's
announcement,
with
2,900,000
probable
runs
the
exports lowered to 4,300,000 barrels of
Recommended withdrawals from crude
crude petroleum.
oil
stocks
were
90,000 barrels, off 35*000 barrels from the August
total.
Total output of oil during September needed to
meet demands was set at 85,920,000 barrels.
to
disclosed that for the last four weeks
complete data is at hand (up to Aug. 1) the daily
production of crude was approximately 3,010,000 barrels,
indicating a total demand of 3,144,000 barrels.
The esti¬
mate prepared by the Bureau of total demand for the same
The Bureau's report
for which
arrels."
Eeriod was about 3,030,000 barrels, or a "shortage of 114,000
+
to
for
on Aug. 20.
Daily average production of 2,864,000 barrels—set as the
needed level by the Bureau—while 72,900 barrels under
the Department's estimate for August was 251,000 barrels
or 10%, above the estimate of last September.
The decline
from the previous month, it was pointed out, represents
chiefly the seasonal dip in gasoline consumption, only
partially offset by lower recommended withdrawals from
cut
of the
crease,
demand
The estimated
Central
region's
In
last
essentially
were
grains, and nearly all livestock
for
sale of principal
from
the first half of
in
region's
well
as
the
States.
smaller
gain
of
States
States, although the cash receipts from crop sales
2% smaller than in the first half of last year, the receipts from crop
livestock items
were
15% higher.
Consequently the total cash re¬
ceipts
of
Atlantic
apples,
a
half
the
for
Central
region's
in
Central
22% larger
were
North
South
resulted
In
North
responsible
East
offset
the
West
Market
ton
potatoes
than
other
September Demand Estimated at 563,000 Barrels,
Daily —— Crude Stocks Dip — Daily Average Oil
Output Rises
and
large part responsible for the region's gain
increased
1,982,401 on April 10, then to
also
increase in this region's cash receipts from the sale of principal
products.
Larger sales of corn and hogs and the higher prices
farm
increased to
showing the normal seasonal recession from the previous
month, will be 10% above the amount required to fill all
needs in September a year ago, according to estimates of
the United States Bureau of Mines made public in Washing¬
16%
received
in
East
together with
was
finally to the present figure when Cuba
Petroleurp^and Its Products—September Crude Demand
10%
Above
Like
1935 Month—Texas
Railroad
Commission
Wins
Court
Decision — Oklahoma
income.
crops,
309,971 tonsor 16.86%.
2,085,022 short tons raw value.
Originally,
1,852,575 tons
2,039,349 on June 19,
received an increase of 45,673
tons, her share of the reallocation of 97,909 tons of the Philippine quota.
The grand increase was 232,445 tons or 12.7%.
and
together with
largely
the remainder of theyearis
Cuba's present 1936 quota is
Cuba's share of the United States consumption quotas was
*
wfieat,
tobacco and
livestock
13% larger than in the same
about
were
the United States during
which
Farmers
ment
1151
Fin&tici&l Chronicle
143
The
right of the Texas Railroad Commission to prevent the
or refined oil products from Louisiana
in Texas unless the shippers could prove the oil or refined
products had been legally produced was upheld in a decision
handed down by a 3-judge Federal Court in Fort Worth on
Aug. 19.
The order involved in the litigation was issued by
the Commission in June, requiring detailed^nformation as
to the origin of all oil
moving in Texas.
The Panama Refining Co. attacked the order, claiming
that the Railroad Conimission had no jurisdiction over oil
produced in another State, and asked for an injunction to
restrain the Commissioh from enforcing its order requiring
proof as to the maonei^ and source of crude oil imported by
the company fron^Xouisiana and refined at its East Texas
plant.
The injunction was denied by the Court.
The com¬
pany also asked that the Commission be ordered to issue the
necessary tenders or certificates for the shipment of petro¬
leum products manufactured from the Louisiana oil, which.
had been refused under the same regulations.
Complete satisfaction with the current status of the Texas
oil industry was expressed by operators and other oil men
attending the monthly State-wide proration hearing of the
Commission held in Austin on Aug. 17. The meeting brought
forth plans for only a few slight adjustments in current allow¬
ables, and it was indicated that the meximum daily allowable
for September, with due allowance for the completion of new
wells, will be practically the same as August.
Nominations
to purchase of crude in Texas during September, as filed with
the Commission, total 1,369,049 barrels daily.
Allowable as
of July 16 was 1,078,669 barrels.
Meeting on Aug. 28 to determine the Oklahoma allowable,
the State Corporation Commission, if it follows its usual
practice, will set the quota at 563,000 barrels, 12,500 barrels
under August, in accordance with the recommendations of
the United States Bureau of Mines.
The meeting will be,
preceded by a series- of conferences among operators who will
work out recommendations for proration of the cut among the
various flush pools.
Stocks of domestic and foreign crude petroleum dipped
1,436,000 barrels during the first week of August, the Bureau
of Mines reported on Aug. 20, to 305,315,000 barrels.
The
decline represented a drop of 1,830,000 barrels in stocks of
domestic crude accompanied by an increase of 384,000 barrels
in foreign stocks.
An increase of 106,600 barrels in daily average crude oil
production in the United States during the week ended
Aug. 15 lifted the aggregate above the 3,000,000-barrel level
movements of crude
.
for the first time in several weeks, and the second time in his-
history.
The American Petroleum Institute reported total
output at 3,070,400 barrels, which compares with August
demand of 2,936,900 set by the Bureau of Mines and actual
production in the like 1935 week of 2,708,650 barrels.
Oklahoma and Kansas, with increase of 69,150 and 30,700
barrels, respectively, accounted for nearly all of the net gain.
Texas production was up about 10,000 barrels, while Cali¬
fornia showed a nominal increase.
Louisiana showed a drop
of 4,650 barrels.
There
were
no
crude oil price'changes. *
•
■
*
Typical Crudes per
Prices of
Corning, Pa
1.25 Rusk, Texas, 40 and
1.42 Darst Creek
Illinois
1.23
Lima (Ohio OH
Co.)
1.23
1.18
.85
.75-.80
Western Kentucky
Mld-Cont't, Okla., 40 and above..
Winkler, Texas..
Smackover, Ark., 24 and over
REFINED
—-
SOHIO
RISE
OPERATIONS
CUTS
BARREL
motor fuel
Domestic
demand during September was set
of 1,430,300 barrels,
42,910,000 barrels, a daily average
at
DEMAND
FUEL
PRICES—BUNKER FUEL OIL UP 5 CENTS
TANK GASOLINE
A
average gross
YEAR—EXPORT DEMAND AT CONTRA-
REFINERY
AS
Institute estimates that the daily
crude oil production for the week ended Aug.
15, 1936 was 3,070,400 barrels.
This was a gain of 106,600
barrels from the output of the previous week, and establishes
a new all-time high mark.
Incidentally, this is the second
time that crude oil production figures have ever crossed the
3,000,000 barrel mark.
During the week of May 16, last,
3,608,050 barrels were produced.
The current week's figure
was
also above the 2,936,900 barrels calculated by the
United States Department of the Interior to be the total of
the restrictions imposed by the various oil-producing States
During August.
Daily average production for the four
weeks ended Aug. 15, 1936 is estimated at 2,985,800 barrels.
The daily average output for the week ended Aug. 17, 1935
totaled 2,708,650 barrels.
Further details, as. reported by
.97
1.42
Sunburst, Mont
1.15
Huntington, Calif., 30 and over...
.95
Kettlemen Hills, 39 and over
1.43
Petrolla. Canada
1.10
MOTOR
by the Bureau of Mines which pointed out that this total was
13% above the like month last year and is approximately
9% above the normal demand for September.
The better
trade and industrial conditions with the accompanying rise
in consumption of
-
.
follow:
the Institute,
for domestic use and receipts in
for the week ended Aug. 15 totaled
Imports of petroleum
United States ports
a
gasoline is responsible for the increased
demand, the Bureau stated.
barrels for
15.
weeks ended Aug.
.
indicate that
of the year.
basis,
withdrawals of 3,980,000 barrels
from stocks during the month in order to fix the Oct. 31 carry¬
over at approximately 52,900,000 barrels, which is slightly
above the economic minimum for the year.
The recom¬
mendation was based upon the following figures: "Stocks of
finished and unfinished gasoline on June 30 totaled 67,377,000
barrels.
According to reports of the American Petroleum
Institute, about 3,000,000 barrels were withdrawn in July,
making stocks as of July 31 about 54,400,000 barrels.
If
5,000,000 barrels were taken out in August, as previously
recommended, 3,980,000 barrels in September, as proposed
herewith, and pissibly 2,500,000 barrels in October, stocks
on Oct. 31
(52,900,000 barrels), will be only slightly above
the economic minimum for the year."
Gasoline stocks, after a record withdrawal of more than
companies had in storage
Receipts of
as
with
the industry as a whole ran to
of the end of the week, 61,953,000 barrels of finished and
and 110,795,000 barrels of gas and fuel oil.
gasoline production by companies owning 95.9% of the potential
Cracked
of all cracking units indicates that the industry as a
of Mines basis, produced an average of 680,000 barrels
during the week.
whole, on a Bureau
daily
DAILY AVERAGE
Oil
Co.
of
Ohio
B.
a
10.875 cents
gallon; regular
gallon.
Kansas.
raised Grade C bunker
fuel oil prices 5 cents a barrel on Aug. 17 at New York,
Boston, Baltimore, and Charlestown, S. C.
At the latter
port the new price is $1.05 a barrel, and at the other ports
affected by the change the new price if $1.10 a barrel.
The
gasoline price war in the metropolitan New'York area con¬
tinued, although cut price offerings are not as numerous
formerly.
\
U. S. Gasoline (Above 65
.07 M
.07^
Richfield Oil (Calif.) .07 H
Warner-QulnlanCo. .07
(Bayonne)
Octane), Tank Car Lots,
F.O.B. Refinery
Chicago...
Colonial Beacon. .$.07 Yx
Texas...
07 %
Gulf....
.07Y.
07 Y.
Republic Oil
New
._
Los Ang.,
.06^
$.06
Orleans.
ex.
.06
*
.06Y
.0SY-.0±%
.06
-.06 M
.06
-.06H
Diesel 28-30
ports
Tulsa
...
$.04-.04>£
188,500
IChicago,
|Tulsa..
I 32-36 GO--$.02H".02^ |
Cincinnati
$ .90
1.05
Total Louisiana.
237,000
233,550
144,400
29,200
108,850
29,450
111, 50
31,850
39,250
30,300
104,950
47,150
Wyoming.
38,600
Montana
13,900
29,200
112,250
31,600
38,850
16,500
Colorado....
4,700
5,000
17,000
4,900
New Mexico.
70,100
78,200
78,050
16,200
4,750
76,150
2,386,900
2,478,800
2,372,700
2,407,700
550,000
591,600
591,100
578,100
609,900
2,936,900
3,070,400
2,963,800
2,985,800
2,708,650
Arkansas
Michigan
.
California.
California.......
Total United States
Note—The figures indicated above
31,850
40,750
.168
Tax Included
CRUDE RUNS TO STILLS
Detroit
.165
Jacksonville—
.165
.175
.16
Pittsburgh
.195
.20
San Francisco....
.16
.19
Houston
.175
Los Angeles...
2% duty city sales tax.
.23
Philadelphia
...
...
-.-
St. Louis
.17
.15
4,200
53,550
2,098,750
do not include any estimate of any oil
which
AND STOCKS OF FINISHED AND UNFINISHED
FUEL OIL, WEEK ENDED AUG. 15, 1936
GASOLINE AND GAS AND
(Figures in thousands of
barrels of 42 gallons each).
Stocks of Finished and
Crude Runs
Stocks
Unfinished Gasoline
Stills
to
of
Unfin'd
C.
Daily
Reporting
Rate
Total
P.
P.
Aver¬
Poten-
Oper¬
At Re¬
age
ated
fineries
C.
Gas
in
Finished
District
and
Terms., Nap'tha
&c.
East Coast..
612
Appalachian.
Ind.,111., Ky.
154
146
94.8
99
67.8
923
462
444
96.1
411
92.6
5,435
296
77.1
Okla.,
612 100.0
488
79.7
6,185
384
84.8
160
48.5
120
75.0
680
658
96.8
589
89.5
3,261
1,023
4,743
La. Gulf
_
■
587
721
5,459
512
1,900
330
Texas Gulf..
Mo_
Oil
269
Kan.,
Inland Texas
Fuel
932
2,797
453
Distil.
10,275
1,027
3,542
1,660
11,676
140
200
191
1,929
8.532
2,397
169
163
96.4
129
79.1
975
517
267
No. La.-Ark.
80
72
90.0
41
56.9
148
70
50
97
60
61.9
49
81.7
870
98
801
789
92.6
504
63.9
8,579
2~345
1,103
73,465
3,488
89.7
2,726
78.2
32,142
3,237
19,262
35,379
20,055
20,720
6,519 110,795
z6,529 109,771
y26,549 yl9,383
y5,768 y!09282
852
Reported.
_.
401
199
3,889
3,889
2,925
2,870
Estd.unrepd.
Aug. 15*36
Aug.
8 *36
3,889
3,889
x
34,771
2,729
Bureau of Mines basis
Production
New Or leans
Denver
.168
36,550
11,250
surreptitiously produced.
might have been
Aug. 1935.
.$.02 ^-.02^
...$.175
Cleveland
232,350
31,200
110,800
32,440
Coastal Louisiana....
425
6,084 108,544
438
793
U.S. B.of M.
.177
Not Including
Phila., Bunker C
Refinery or Terminal
Gasoline, Service Station,
$.182
z
New Orleans C
1.65
(Bayonne)
27 plus
25,550
118,850
Louisiana
2,251
xEst.tot.U.S.
Refinery or Terminal
$1.15-1.25
Gas Oil, F.O.B.
N. Y.
151,900
1,154,700
Total Texas
Water White, Tank Car, F.O.B.
$1.10
D_—
1,019,250
82,900
150,650
Coastal Texas..
60,600
Rocky Mtn.
California..
Gulf
.07
California 27 plus D
(Bayonne)
1,153,850
85,100
Southwest Texas
ial
New York—
Fuel Oil, F.O.B.
Bunker C
1,153,150
79,800
152,550
East Texas
_
New York
1,163,050
East Central Texas
tank car prices of gasoline
Refinery
iNorth Texas .$.03 H-.03|New Orleans_$.03 K-.04
$.04^ | Los Angeles.. .04M-.05
I Tulsa
.04H-.04}£
Kerosene, 41-43
429,550
85,350
254,400
West Texas
$1.05.
Shell East
N. Y.
60,250
431,250
86,800
257,200
West Central Texas...
a
Socony-Vaeuum
Tide Wrater Oil Co..
60,600
60,150
26,250
179,100
58,450
155,8501
57,700
50,900
25,800
150,050
47,450
436,750
57,800
186,800
Capacity
ys-cent a
gallon, effective Aug. 19.
The new schedule posts third-grade at 8.625;
regular at 8.875, and premium at 10.875 cents a gallon, respectively;
„
Standard Oil N. J..$.07H
55,800
504,650
142,500
20,650
179,450
59,550
430,150
84,550
256,400
North Texas
DaUy Refining
New Jersey lifted Grade C bunker fuel oil 5 cents
New York, Boston and Baltimore.
Charlestown, S. C.,
lifted the same amount to
555,750
- •
Aug. 17—Standard of
Aug. 20—Standard of Ohio cut
1935
,
532,300
139,650
60,700
60.550
26,450
179,850
..
Representative price changes follow:>
barrel to $1.10 at
Aug. 17,
601,450
170,350
Panhandle Texas
North
Week
Ended
Aug. 15,
1936
Aug. 8,
1936
Aug. 15,
1936
575,500
166,500
Oklahoma.
Total East of
a
4 Weeks
Ended
(August)
Aug. 20, effective
Standard Oil Co. of New Jersey
Average
Week Ended
culations
(SOHIO) lowered tank car
third-grade gasoline is
is 8.875 cents, and premium is
Actual Production
of M.
Dept. of
Int. Cal¬
lifted the total to 110,795,-
on
CRUDE OIL PRODUCTION
(Figures in Barrels)
Eastern
Standard
in transit and in
at refineries, bulk terminals,
charging capacity
000 barrels.
was
crude oil daily during the week, and that all
2,925,000 barrels of
unfinished gasoline
due
prices of gasoline >8-cent a gallon
Aug. 19.
Under the new schedule,
of the 3,889,000
capacity of the United States,
stills on a Bureau of Mines
daily potential refining
estimated
pipe lines as
61,953,000 barrels on Aug. 8.
Refinery operations increased 1.7% to 78.2% of capacity
during the week, daily average runs of crude oil to stills
rising 55,000 barrels to 2,925,000 barrels.
An increase of
1,024,000 barrels in gas and fuel oil stocks, as the trade
a
for the four weeks ended Aug. 15.
from refining companies owning 89.7%
Reports received
partly to the heavy withdrawals in the previous
period, and also to an increase in the operating rate of re¬
fineries.
Stocks of finished and unfinished motor fuel totaled
as
barrels, a daily average of 38,283 barrels, compared
of 32,714 barrels for the week ended Aug. 8, and
31,393 barrels daily
week of July, were off 67,000
barrels for the period ended Aug. 8, statistics released by the
American Petroleum Institute disclose.
The slight decline
8.625 cents
daily average
a
barrel
2,000,000 barrels in the final
prepared for the winter demand,
and Gulf ports for the week ended
California oil at Atlantic
Aug. 15 totaled 268,000
The Bureau recommended
was
bond at principal
1,038,000 barrels,
of 148,286 barrels, compared with a daily average of 221,143
the week ended Aug. 8 and 174,321 barrels daily for the four
daily average
somewhat of a surprise, the motor fuel export
demand was set at 2,600,000 barrels, the same as in August.
Contrary to the normal seasonal trend the maintenance of
the August level was due to reports from the principal ex¬
porters in the United States that demand abroad is holding
up and showed no signs of the slackening usual at this time
Coming
New High Mark
The American Petroleum
1.15
—
•
TOTALS—GASOLINE STOCKS SHOW ONLY SMALL
SEASONAL
DIP
$1.10
over
Central Field, Mich
PRODUCTS—SEPTEMBER
ABOVE LAST
13%
Daily Average Crude Oil Output Sets
During Latest Week
Barrel at Wells
(All gravities where A. P. I. degrees are not shown)
$2.45 Eldorado, Ark., 40
Bradford, Pa.
1936
22,
Aug.
Chronicle
Financial
1152
of
currently estimated,
Soft
Coal
y
As of Aug. 31,1935.
z
Revised.
Continues Higher in Latest
Week—Anthracite Again
Declines
,
of the United States Bureau of
Mines stated that the total production of bituminous coal
during the wee}? ended Aug. 8 is estimated at 7,528,000 net
tons, an increase of 126,000 tons, or 1.7% over the output
The weekly coal report
Volume
the
in
Financial
143
preceding
full
Production dining the first
week.
week in August, 1935, amounted to 4,922,000 tons.
Anthractie production in Pennsylvania during the
week
tons—exactly 50%
week.
Production
amounted to 433,000
ended Aug. 8 is estimated at 550,000 net
of the estimated output in the preceding
during the corresponding week last
year
1153
Chronicle
against 6,418,000
year
for
Mexico
Output
is
of
*
silver
refinery basis,
ounces
available
not
was
by
as
the
countries,
leading
thousands
in
COKE
on
5,046
1,580
1,103
1,276
6,710
1,500
1,047
1,499
5,783
1,650
c735
c735
729
487
490
490
_
Peru.
b Australia
Japan.
......
Burma
.......
a
950
3,183
19,397
3,265
............
Not yet available,
3,250
19,695
Other countries
BEEHIVE
April, 1936
4,754
5,293
1,450
Mexico
Totals
STATES PRODUCTION OF COAL AND
ounces,
I
May, 1936
June, 1936
statement follows:
ESTIMATED UNITED
of
follows:
Canada
During the calendar year to Aug. 8, 1936, a total of
240,215,000 tons of bituminous coal and 31,564,000 net tons
of Pennsylvania anthracite were produced.
This compares
with 216,803,000 tons of soft coal and 32,679,000 tons of
hard coal produced in the same period of 1935.
The Bureau's
time.
present
United States
net tons.
June production
in the same time last year.
at
b Includes New Zealand,
Conjectural.
c
(IN NET TONS)
Decision
Calendar Year to Date
Week Ended
Increase
to
Output
of
Halts
Copper
Price
Advance—Lead Again Active
Aug. 8,
1936
Aug. 1,
Aug.
10,
1935
1936
1935
1936 d
c
"Metal and Mineral Markets" in its issue of Aug. 20
1929
e
c
BItum. coal:
Tot. for per'd
7,528,000 7,402,000 4,922,000 240,215,000 216,803,000 311,262,000
1,661,000
1,162,000
820,000
1,288,000
Daily aver.. 1,255,000 1,234,000
Penn. anthra.:b
Tot. for per'd
Daily aver.
91,700
31,564,000
170,200
32,679,000
176,200
225,100
11,200
183,300
28,500
41,753,000
433,000
72,200
550,000 1,100,000
_
817,700
4,326
526,400
2,785
4,193,900
30,200
5,033
Beehive coke:
Tot. for per'd
Dally
4,750
aver..
1,867
22,190
b Includes
Sullivan County, washery and dredge coal, local sales, colliery fuel, and coal shipped
by truck from authorized operations,
c Subject to revision,
d Revised,
e AdJusted to make comparable the number of working days in the three years.
a
Includes
lignite, coal made Into coke, local sales, and colliery fuel,
ESTIMATED
COAL, BY STATES
OF
PRODUCTION
WEEKLY
(IN THOUSANDS OF NET TONS)
[The current weekly estimates
and
are
based on railroad carloadings and river shipments
for the announcement that Kennecott was pre¬
pared to step up its production appreciably in the event that
the price of copper advanced Mc., the domestic market
would have been raised to 10c. during the last week.
The
July statistics for copper were excellent, and many in the
industry believed that there would be little or no" opposition
to raising the quotation.
The excitement in copper made
most of the other metals appear uninteresting, but a check
on the week's total business reveals that purchases of lead
again were large, much to the surprise of producers.
Zinc
sold in moderate volume at unchanged prices.
Tin showed
little net change.
Refined platinum advanced $10 per
ounce.
The publication further went on to say that:'
district and
subject to revision on receipt of monthly tonnage reports from
of final annual returns from the operators.]
are
State
stated
that except
a
Copper
sources or
In the first half of the week the foreign market for copper was strong and
higher
Week Ended
Aug.
State
Aug. 1
1936
1923 d
2
2
2
210
158
s
397
335
Colorado
201
142
32
40
39
88
81
84
Arkansas and Oklahoma
81
56
56
129
173
*
1
1
Georgia and North Carolina
*
Illinois
765
718
458
604
925
1,363
Indiana
229
225
165
208
296
440
104
765
89
112
204
217
22
23
44
44
3
15
21
72
520
132
130
»
26
26
/ 2
2
Montana.
44
50
48
34
49
New Mexico
24
25
22
20
40
Maryland
Michigan
.1
,
Ohio
13
86
871
3,734
1,496
2,630
70
become quite general here, it was
67
98
118
Texas......—
13
13
14
15
23
32
27
26
34
67
83
235
219
156
143
222
26
21
23
33
47
1,678
1,672
1,265
1,294
1,967
1,515
484
526
348
391
687
875
83
91
65
61
91
s4
ago.
154
s2
amounted to 12,466 tons,
with 4,644 tons in the previous week, and 2,132 tons two
248
24
be augmented to the extent of
An increase in output is held to be
Domestic sales of copper during the last week
24
Utah
stated in copper circles yesterday, and
fall.
because of the sharp gain in consumption.
which compares
weeks
about
The move to increase output may
the industry believes that mine output will
s20
sl2
434
84
Kennecott let it be known that it will increase domestic production
3,000 tons beginning with September.
necessary,
17
1,446
2,063
disappeared.
49
•
331
,
The net result was the price here remained at the old
the week and talk of an advance for the immediate future
level throughout
50
-
began to increase in size and also weakened
about 10,000 tons a month this
13
338
1,969
Pennsylvania bituminous
*
249
12
386
North and South Dakota
down the buying movement that
145
843
91
618
Western
100
69
540
115
669
Kansas and Missouri
58
46
29
38
40
Iowa...
Kentucky—Eastern
Late
This development slowed
production and would be a free seller at 9Mc.
prices in Europe.
s
s
"One of those vicious circles," according to traders.
Aug. 14 the stage seemed to be set for a 10c. market here, but on the
following day it became known that Kennecott was determined to increase
s
.
57
Alabama
that the price would advance in this country, and the
rumors
prices abroad.
on
2
Alaska
on
price structure in this country strengthened on the upward tendency of
Aver.
July 25 Aug. 3, Aug. 4, Aug. 3,
1929
1934
1935
1936
Tennessee-
Virginia
Washington
West
Virginia—Southern,
a
Northern, b
Wyoming
....
*
*
*
*
Other western States.c
•
»
Foreign demand was active until the news of the strong opposition to a
foreign producers is expected before long.
A summary
of the latest statistics of the Copper Institute, in short tons,
followsrj
June
Production
7,402
7,312
5,338
5,786
9,396
1,100
Total bituminous coal...
1,100
839
880
1,243
6,177
6,666
10,639
8,412
8,502
Grand total
the N. & W.; C. & O.; Virginian; K. & M.; B. C. & G.;
and on the B. & O. In Kanawha, Mason, and Clay Counties,
b Rest of State, in¬
cluding the Panhandle District, and Grant, Mineral, and Tucker Counties,
c In¬
cludes Arizona, California, Idaho, Nevada, and Oregon,
d Average weekly rate for
the entire month,
p Preliminary,
s Alaska, Georgia, North Carolina, and South
Dakota Included with "other Western States."
* Less than 1,000.
Includes operations on
a
—
13,464
Foreign mine
;
Foreign scrap, &c
United States
39,201
11,078
64,995
7,045
42,934
13,026
66,341
8,521
Totals
U.
S.
59,807
86,235
142,290 146,042
exports,
domestic
4,901
copper only
4,290
Stocks, refined:
Production refined:
74,407
_
United States
53,985
65,465
60,562
United States.
Foreign........
228,817 218,705
....230,097 213,617
Totals
.134,969 119,450
Totals.,
a
57,149
85,141
Foreign..
al30,822 122,319
Totals
Foreign..
July
Apparent consumpt* refd.:
—
U. S. scrap, &C._.
11,538
1,926
June
July
(blister):
U. S. mine
Pennsylvania anthracite
A higher rate of output by
10c. market in the United States was received.
458,914 432,322
Revised.
Lead
World^Gold Production Up 12% in 1936
A
the American
by
accounting
preliminary
During the past eight weeks the lead industry has witnessed one
Bureau
of
in the
first
half
of
1936, exclusive
of Russia, amounted to
13,360,000 ounces against 11,820,000 ounces in the same time
last year, an increase of about 12%.
Further details sup¬
Statistics showed that world gold production
Metal
plied by the Bureau disclosed that:
The United States
.
the
as
in
of
1936
South
the first half
was
.
,
310,000
precise
information,
against 308,000 ounces
ounces
'
.
of
.
the
has been increasing this year at
production
world
the
World
gold
Major buying, however, was confined to the battery, tin
continued firm and unchanged at 4.60c., New York, the con¬
tract settling
St. Louis.
basis of the American Smelting & Refining Co., and at 4.45c.,
St. Joseph Lead Co. was a seller of its own brands in the East
permium.j
Zinc
outside
entering Russia's
is
even
higher rate than that
a
Russia.
of
production
in
about steady, sellers
at
Bureau
experienced
first half
of
1936,
reports on actual consumption
Silver
of
in
United
Higher Than
American
United
the
Bureau
States
of
during
a
Metal
the
During June
month
of
reported that
June produced
5,293,000 ounces of refined silver.
This compares with
4,754,000 ounces produced in May and 2,387,000 ounces in
June, 1935.
Production of silver in this country during the
first six months of 1936 amounted to 29,852,000 ounces,
which compares with 16,742,000 ounces
produced in the
same
period last
Canada's
8,728,000
Peru
year.
production
ounces
The Bureau further reported:
during the
against
produced 9,409,000
7,440,000
ounces
first
half
ounces
of
in
the
the
current
same
year
period
of silver in the January-June
of
totaled
1935.
period this
The
nearby delivery.
for
the week.
Prices fluctuated daily, but showed little net
According to
Reuters
Trade News, the British
adviser to the Siamese Mines Department will proceed to London as early
as
Statistics
favorable* character of the
Shipments of the common
Tin
change
States
of the metal.
Sales amounted to a little more than 2,000 tons.
estimating Russia's
Year Ago
In fact, the undertone here was
grades of zinc to consumers during the last week amounted to 5,300 tons, a
good showing.
Business in tin was fair.
Production,
difficulty in maintaining the quotation
no
4.80c., St. Louis, on Prime Western.
output at 460,000 ounces a month, was 16,120,000 ounces.
The
'
week, and, with the foreign price
quite steady, with producers encouraged by the
inquiry for zinc was mostly for
the
Buying continues
foil, pigment, and sheet-lead and pipe interests.
in June against 938,000
of gold
ounces
production for this year at the monthly average of 460,000 ounces, the
rate of
production for 1935.
Conjecturally, the Bureau adds, Russian
for
fair tonnages.
in the previous week.
Cable makers again have entered the market for
There was a moderate call for zinc last
absence
the
be well diversified.
at a
produced. 944,000
production for June
May.
In
in June, or the same quantity
in this country in
ounces.
Last week's business amounted to 9,500
tons, compared with 12,800 tons
to
of the
Sales have averaged above 11,000
buying periods on record.
week during this time.
The price
ounces
Production
tons per
May.
Canada's
in
1,876,000
Africa
in
ounces
produced' 340,000
preceding month.
was
most active
possible to resume tin restriction discussions.
Bolivian shipments of tin
during June are now officially reported at 2,343 long tons, which compares
with 1,991 tons
in May.
Chinese tin, 99%,
was
July shipments from Bolivia totaled 2,129 tons.
nominally
as
follows: Aug. 13th, 41.875c.; 14th,
41.625c.; 15th, 41.625c.; 17th, 41.375c.; 18th, 41.250c.; 19th, "41.975c.
Steel Ingot Output, at
72^%, Hits New High for
the
Year
The "Iron Age" in its issue of Aug. 20, stated that steel
ingot production has rebounded to 72XA% of capacity, a
new high for the year, from 71% last week; steel scrap has
made further
sharp price gains in all important districts; a
Financial
1154
virtual scarcity of coke exists, and incoming1 orders for fin¬
steel products are at such a steady pace that steel
ished
reduced only slightly.
companies' backlogs are being
"Age" further stated:
R These
are
The
Aug. 26
Sept. 2
Sept. 9
Sept. 16
Sept. 23
Sept. 30
the major evidences of sustained industrial activity, with no
proportions yet in sight.
In addition to cur¬
letdown of more than minor
developing that look promising for the fourth
quarter, especially in railroad equipment and oil tankage.
Locomotive
and car builders are tentatively figuring on a fairly large amount of motive
demands, prospects are
rent
power
and rolling stock that may
Oct.
14.:
Oct.
21
Oct.
28
weeks.
Nov. 11
50c. at Pittsburgh, 75c. at Chicago and
Philadelphia; thus the "Iron Age" scrap composite price has ad¬
to $15.42, the highest since Nov. 5, 1929.
With many dealers
stocks for still higher prices, an actual shortage of scrap has de¬
Heavy melting scrap has risen
25c. at
vanced
holding
in the aggregate
markets
at third
;
the cost of raw steel, and there has been a
mills
Shutdowns of
will be brief and will have
effect on steel shipments.
only a temporary
capacity,
with a considerable volume of new work in sight.
In the New York area
are three sizable projects close to an award—7,000 tons of fabricated shapes
for the Sixth Avenue subway. 5,000 tons for a section of the West Side
elevated highway and 4,000 tons for a hospital on Welfare Island.
A
job, hence structural mills are working at practical
railroad station in Los Angeles
Railroads are doing a
equipment.
new
carloadings this fall and are figuring on
The Missouri Pacific is inquiring for 200 box cars.
Tne
with a possibility of an increase effective Jan. 1,
bring some fall buying.
The Nickel Plate
of rails and 2,000 tons of track accessories.
is expected to
Tin
has ordered 5,800
of vegetables.
Canned wine is a new out¬
let for tin plate.
AGE"
THE "IRON
COMPOSITE PRICES
2.159c. a Lb.
(Based on steel bars, beams, tank plates,
2.159c.1
wire, rails, black pipe, sheets and hot
2.159c.
rolledstrips. These products represent
2.124c. ( 85% of the United States output.
Low
High
1935
-
1933
1932....
-
-
-
1930
1929
-
-
1928
-
1927
Mar. 10
2.124c.
Jan.
Ton
—$18.73
Aug. 18, 1936, $18.73 a Gross
One week ago
Jan.
2
1.867c.
Apr.
18
1.926c.
Feb.
One year ago...
1.945c.
Dec.
29
9
2.018c.
Dec.
2.273c.
Oct.
29
2.217c.
July
17
2.212c.
Nov.
1
One purchase of 12,000 tons of 12-inch steel pipe
the Hope Natural
by the Peoples Natural Gas Co., Pittsburgh, was
The other,
Co.
Gas
12)4-inch
pipe.
Still another outstanding award was
3,572 tons of
6- and 8-inch cast pipe for Los Angeles.
resulted in the assembly of only
The recession in automobile production
week.
received, incoming
56,679 units last week, compared to 81,804 in the preceding
Although some good size finished steel contracts were
fell off slightly.
remote because of the large
was
However, fear of any marked recession
backlogs piled up by producers and the
Pressure
general favorable business situation outside the steel industry.
for deliveries remains as strong as ever.
mills'
Sheet
have increased in
backlogs
some
Most producers
further delay for shipments.
now
resulting in
instances,
cannot promise deliveries
for six weeks.
kept
industry operating at the
the
orders in July were more than double the June volume.
The outlook for the fall is
<•
Inquiries have
10,000
promising for railroad work.
been numerous and last week included
demand have
Foreign
1929.
level since
highest
Government inquiry for
a
Nickel Plate has awarded 5,800 tons of rails.
tons of rails.
68% because
)4 point
to 71%; eastern Pennsylvania,
)4 to 50; Detroit, 7 to 93.
In the New
England district the rate advanced 2 points to 70%; Birmingham, 5)4 to
67; Colorado, 7 to 63; Wheeling, 3 to 95, and Youngstown, 2 to 79.
Other
of
mill employees.
vacations for
Chicago rate was down
The
plate operations are unabated at a full 100% of capacity,
ducers still far behind on deliveries.
casts
on
the late summer
and
with pro¬
Can makers are reducing their fore¬
early fall crop prospects, but
demand for
1935
1934
1933
1932
-
1931
1930
1929
1928...
1927.......
furnace
Philadelphia,
Buffalo,
and
Valley
Birmingham.
...$18.84
18.84
17.90
16.90
14.81
15.90
18.21
18.71
18.59
19.71
Jan.
7
Nov. 5
May
1
Dec.
5
Jan.
5
Jan.
6
Jan.
7
May 14
Nov. 27
Jan.
4
Aug. 11
$18.73
17.83
May 14
16.90
Jan.
27
13.56
Jan.
3
13.56
12.501
-
1934
■1933
1932
1931
1930
1929
1928
1927
U.
and
S.
Steel
67%
little
over
is
two
estimated
weeks
ago.
at
66)4%,
Leading
74%, compared with
against
67)4 %
independents
75%
in
The following table gives a comparison
with the nearest corresponding week
years,
6
18.21
Dec.
17
1936
70)4
17.04
July
24
1935
49
17.54
Nov.
1
1934
Industry
U, S. Steel
$12.67
66)4
74
—1
+2
41
+2
55
22
—3
22)4
+ 2)4
-3)4
49
—2
53
—5
22)4
51)4
14)4
-3)4
-3)4
+ )4
1931
33
+ 1
35
1930
54)4
62
90
-1)4
—3
13)4
—1
+ )4
+1
15
+
31
49
10.33
9.50
6.75
)4
+1
34
-2
—
95
78
—2
66
68)4
—
86)4
—2
75
1927
June
Independents
—1
1929
Low
71
)4
—3)4
+1
63
9
Apr. 23
Sept. 25
3
Jan.
6.43
July
Dec.
Dec.
9
14.08
Dec.
3
13.08
July
2
13.08
Nov. 22
Begin Series of Meetings with Farmers Shortly
Program for 1937—
Heavy Loss in New and Old Seedings Reported
29
11.25
AAA
5
8.50
17
an¬
which it had received indi¬
capacity of the industry will be 72.2% of
ca¬
pacity for the week beginning Aug. 17, compared with 70.0%
one week ago, 70.9% one month ago, and 48.8% one year
This represents an increase of 2.2 points, or 3.1 % from
week of Aug. 10,
Weekly indicated rates
operations since Aug. 5, 1935, follow:
together with the
16
steel companies having 98%
the estimate for the
with a
and 76%
credited
of the percentage of production
of previous
1932
18
10
13
8
12
Jan.
6
Feb. 18
Jan. 29
Dec. 31
Jan. 11
the week before
approximate changes, in points, from the week immediately preceding:
1933
Aug.
Dec.
Mar.
Aug.
Jan.
are
the preceding week,
1928
nounced that telegraphic reports
6 cents to $33.88,
ingot production for the week ended Aug. 17, is
a shade over 70%% of capacity, according to the
"Wall Street Journal" of Aug. 19.
This compares with
71 %% in the previous week, and 72% two weeks ago.
15
The American Iron and Steel Institute on Aug.
is up
The finished steel index is still at $53.40.
Steel
Dec.
and Chicago.
$15.42
13.42
13.00
12.25
8.50
11.33
15.00
17.58
16.50
15.25
cated that the operating rate of
24,000 tons last week.
placed at
Dec.
High
1936
and steel prices
of iron
Dec.
12.50[
1935..
to
work is in sight, however.
14.79
(Based on No. 1 heavy melting steel
$14.92-1 quotations at Pittsburgh, Philadelphia
One year ago..
new
"Steel's" composite
because of the increase in scrap.
15.90
Aug. 18, 1936, $15.42 a Gross Ton
One month ago
Considerable
tons
two weeks ago.
Low
Steel Scrap
One week ago
general line cans is still heavy.
The "Journal" fuither added:
basic Iron at Valley
and foundry irons at Chicago,
High
1938
.of steel
the shortage continued.
as
pig iron activity.
2
Based on average of
18.84
17.84
One month ago
ago.
week
district last
,
outstanding feature of the market, two of them
were an
8
2.008c.
Pig Iron
•of the steel
every
Shape awards were down about 4,000
2.084c.
July
7
Oct.
1
Apr. 24
Oct.
3
Oct.
4
Jan. 13
Jan.
7
Apr.
2
Dec. 11
Jan.
4
2.159c.
2.130c.
2.199c.
2.015c.
1.977c.
2.037c.
2.273c.
2.317c.
2.286c.
2.402c.
1936
1931
discernible
*
$14.83, the result of broad
...
One year ago
1934
and an increase to the latter nation is ex¬
made for a 96-mile gas line in West Virginia, for
Tin
One month ago.,
Current
until
immediately.
districts were unchanged.
Finished Steel
Aug. 18, 1936,
One week ago
said to be con¬
Operations in the Pittsburgh district were down 3 points to
90% of capacity, despite the
plate production is holding at about
effects of the drought on packs
.
Heavy foreign sales of machine tools and fair domestic
extension of the rail price,
tons
Pipe awards
was
calls for 10,000 tons.
fairly large volume of car repair work in their own
shops in anticipation of heavier
70)4%.
Employees'
apparently, than
Export prices on plates were advanced $1 a ton to
totaling 24,000 tons.
specifications
field there is increasing pressure for haste in getting
In the construction
steel to the
with
extended until Nov. 1, and for shipment
The situation in scrap has led to increasing
broader way for work on new models, sheet and strip
order books for September shipment.
almost
in
advances
>
companies and parts makers coming back into the
for change-over to new models
automobile production, demand
"Steel's" scrap composite is up 58 cents to
for
motor plants
the iron and steel
within the next month.
of the year.
have added to their
3
17
Aug.
The general price trend will be increasingly
pected shortly.
increases, par¬
ticularly in galvanized sheets, wire products and bars.
Electrical sheets
have just been advanced $2 a ton for fourth quarter, while, on the other
hand, the rail price has been extended to Nov. 1 for deliveries to the end
market in a
27
Aug. 10
do with the lowering of the rate,
except Canada,
countries
all
indication is that there will be some price
With the automobile
l-_
June
July
Aug.
strength of the markets, producers are
the end of the year.
further element
granted to workers.
May 25
operating rate was down 1 point to
prices on standard rails were
The two matters cannot be divorced, as a wage increase
necessitate price advances.
Higher scrap prices have already added
The present
May 11
May 18
grades of electrical sheets, effectively
all eight
on
♦
for higher wages.
of increased cost in vacations
52.0%
51.7%
13
20
finished steel prices for fourth quarter
because of mounting costs.
There were three developments in the price
situation last week.
A leading producer announced a $2 per ton increase
)* While there' is at present no authoritative basis for a prediction that
steel prices generally will be increased, the subject is being very seriously
considered, especially in its relation to the demand of some steel workers
about $2 a ton to
49.2%
49.4%
49.9%
49.4%
50.0%
July
64.5%
67.9%
70.4%
71.2%
70.1%
69.1%
69.4%
67.9%
68.2%
Apr.
6
Apr. 13
Apr. 20
Apr. 27
May
4
enabled steel works activity to hold almost even
With the general
extend into the fourth quarter provided all
opportunity to cover prior to the effective date
.
6
Mar. 30
67.2%
69.0%
70.9%
71.5%
71.4%
70.0%
72.2%
6
53.7% July
62.0% July
sidering the possibility of advancing
quarter prices were to
of the advance.
would
1936*—
Jan.
70.2%
74.0%
June 22
55.8%
Mar. 16.^—60.0% June 30
Mar. 23
other factor.
any
movement, perhaps exceeding that which occurred
Some steel companies have now determined
violation of the Robinson-Patman law if deliveries
buyers were given an equal
30
vacations had more to
for fourth
might be expected.
that there would be no
23
Dec.
9
high August level last week.
The national
of delayed deliveries that has been preva¬
Should there be an advance in prices
quarter, another buying
in June,
Deo.
2
Mar.
Aug. 17, stated:
on
the unusually
supporting mill production without
the present volume is
weeks.
some
9
16
June
8
69.5%
53.5% June 15.—.70.0%
24—-.52.9%
Feb.
Mar.
Despite a sharp decline of 25,125 units in
steel products has declined moderately, but
much alleviation of the condition
for
Dec.
Dec.
from other sources
Demand for some finished
2
Dec.
"Steel" of Cleveland in its summary of
veloped in some districts.
lent
5
Nov.
53.7%
55.4%
56.4%
55.7%
54.6%
49.5%
46.7%
Nov. 25
49.7% Jan. 13
50.4% Jan. 20
51.8% Jan. 27
3
51.9% Feb.
50.9% Feb. 10
52.6% IFeb. 17_
7
Oct.
not reach the contract stage for several
Nov. 18
46.0%
48.1%
48.8%
47.9%
45.8%
49.7%
48.3%
48.9%
50.8%
5
Aug. 12
Aug. 19
1936—
IQ-ltfL—
1t»
1935—
Aug.
1936
Aug. 22,
Chronicle
to
to
Consider Soil Conservation
The Agricultural Adjustment
on
Aug. 19 that
a
Administration announced
series of meetings, beginning probably in
the latter part of August, will be held in the States to discuss
recommendations of farmers concerning an Agricultural
Conservation Program for
1937.
"The new program will
light of the experience gain in 1936,"
said H. R. Tolley, Administrator of the Agricultural Adjust¬
ment Act and related acts.
He added that "this experience,
we believe, has demonstrated that the principles of the Agri¬
cultural Conservation Program are sound and that the pro¬
gram is practicable from an administrative standpoint."
Referring to the conferences advices Aug. 19 from Washing¬
be considered in the
ton to the
New York "Times" said:
Volume
Under
SI
.
an
the
1936
went'
acre
Financial
143
relatively
program,
to farmers
averaging about
payments
The larger
engaging in soil-building practices.
payment, averaging about S10
an
acre,
tensively cultivated crops of wheat,
Because of the
small
was
for shifting acreage from in¬
and oats to grasses and legumes.
corn
severe
drought, however, the AAA is considering making
the larger payment for
soil-building practices where land is not suitable
for immediate plantings.
Only two meetings have thus far been definitely scheduled by the AAA,
one
for the Northeast for Aug. 28 and 29 at
Amherst, Mass., and the other
for Aug. 25 and 26 at Signal
Mountain, Tenn.
At least three other prin¬
cipal meetings will be fixed, and will be followed by many other small group
conferences.
Chronicle
1155
annual outlook statement of the Bureau of
will be issued in November.
It is also announced that the conferences, and other
oppor¬
tunities for farmers to transmit their recommendations for a
1937 program, are being arranged by the regional directors
of the
Agricultural Adjustment Administration.
The direc¬
East Central Region, J. B. Hutson; Southern
Region, Cully A. Cobb; Northeast Region, A. W. Man¬
chester; North Central Region, Gerald B. Thorne, and
Western Region, George E. Farrell.
'
tors
are:
,
♦
.
From the Aug.
the following:
19 announcement of the AAA
quote
we
1937 already have been held in Western
States.
The Soil Conservation and Domestic Allotment Act of 1936 does not author¬
Federally owned land and, consequently, the program for
the immediate future must be restricted to the
privately owned range.
In the general farming areas, the drought has caused a heavy loss
both
and
new
desirable
old
that
seedings of
seedings of soil-conserving
1937 program encourage a
the
This
crops.
made it
has
increase
material
in
in
new
and soil-conserving legumes.
grasses
In areas affected by the drought where the soil is too dry for germination
of grasses and legumes, consideration will be
given to practices which con¬
trol wind erosion and which will
prepare the soil for the
soil-conserving
a
specified
seeding of permanent
also to consider
of the
proportion
proportion could vary
and
land
crop
between
as
recommendation of State
provision for the maintenance of
a
in
soil-conserving
and would
areas
agricultural
commodities
Similar
information
with
be
made
The
The
Week
daily
to
respect
available
for
farmers
to
con¬
the
buy seed grain that would be sold back to the farmers in
drought area next Spring, thus shutting out speculators
and "holding grain closer to the farm."
Referring to a press conference of Secretary Wallace,
Associated Press accounts from Cleveland Aug. 19, said:
the
other
commodities
will
Federal
Reserve
through, and he did
Federal
Requested to elaborate
"as
desperate
as
outstanding during the week ended Aug. 19,
made
be
for
the
preceding week and practically the
corresponding week in
1935.
After
reported
noting
these
facts, the Board of Governors of the Federal Reserve System
as follows:
proceeds
HOn Aug.
decrease
"We have
a
carry-over
of about 136,000,003 bushels from last
for the week.
New York City-—»
Aug. 19 Aug. 12
1936
1936
an
increase of
money
Federal
a
$17,000,000 in monetary gold stock, offset in part
in circulation and $5,000,000 in non-member deposits and other
Reserve accounts.
quirements of member
Following the increase of 50%
banks,
which
became effective
in
after
reserve
re¬
the close
Loans and investments—total..
on
19 and
declined from approximately $3,170,000,000 on Aug.
reserves
$1,810,000,000
Aug.
on
19.
During this
period
member
of
excess
12 to about
bank reserve
balances with the Federal Reserve banks increased by $113,000,000.
Relatively small changes
were
8,620
7,558
862
868
75
reported in holdings of purchased
bills, industrial advances, and United States Government securities.
parison with the preceding week and with the corresponding
date last year, will be found on pages 1180 and 1181.
were
•
In New York
City
'
Outside New York City,
on
securities to
others
Decrease
or
Aug. 12, 1936
6,000,000
(—)
--2,000,000
Aug. 21, 1935
$
Bills bought..
Industrial
advances
(not
—1,000,000
3,000,000
-
U. S. Government securities
—2,000,000
2,430,000,000
including
$23,000,000 commitm'ts—Aug. 19)
29,000,000
Other Reserve bank credit
—11,000,000
—18,000,000
2,457,000,000
—20,000,000
—11,000,000
10678,000,000
+ 17,000,000
+1,489,000,000
2,499,000,000
+ 1,000,000
+ 78,000,000
Money in circulation..
6,184,000,000
+14,000,000
+ 610,000,000
Member bank reserve balances
6,229,000,000 +113,000,000
+ 938,000,000
—8,000,000
•
Total Reserve bank credit
Monetary gold stock
Treasury
.
currency
Reserve
banks.-
Nonmember deposits
2,625,000,000 —134,000,000
—97,000,000
723
142
141
158
121
129
20
20
21.
Loans
132
133
122
15
15
32
33
36
5
5
6
Other loans
1,253
1,238
1,175
358
348
242
U. S. Govt, direct obligations..
3,856
3,853
3,089
1,081
1,120
917
488
355
91
91
82
1,129
1,120
1,058
296
301
273
2,290
2,355
2,276
50
54
42
31
32
35
71
75
97
201
197
211
451
459
511
70
70
79
6,240
6,229
5,634
1,518
1,497
1,378
387
on
real estate
Loans to banks
-
597,000,000
Member
Banks
+ 5,000,000
+ 107,000,000
United States government
Other securities
446
Reserve with F. R. Bank.t
Cash in vault
Balances with domestic banks.
-
Other assets—net..
Demand
deposits—adjusted
Time deposits
in
New York
City and
Chicago—Brokers' Loans
banks
current
Reserve
and
System for the New York City member
also
for
the
Chicago
member
banks,
for
the
week, issued in advance of full statements of the
member banks,
which latter will not be available until the
coming Monday.
.
594
567
493
562
571
602
444
444
191
191
250
101
101
29
2,314
2,425
2,036
624
651
509
373
376
248
5
6
4
-
United States govt,
deposits..-
Domestic banks
Foreign banks
•
-
Borrowings.
2
-
Other liabilities
348
-
Capital account
345
263
20
22
27
1,427
1,428
1,451
227
223
226
4.
As
,
'
Preceding Week
explained above, the statements of the New York and
Chicago member banks are given out on Thursday, simul¬
taneously with the figures for the Reserve banks themselves
and covering the same week, instead of
being held until the
following Monday, before which time the statistics covering
the entire body of reporting member banks in 101 cities
cannot be compiled.
In the following will be found the comments of the Board
of Governors of the Federal Reserve
returns
the
the
of
Federal
entire
Reserve
System respecting the
body of reporting member banks of
System for the week ended with the
close of business Aug.
12:
The condition statement of weekly reporting member banks in 101
Aug.
12 shows
leading
decreases
for the week of $21,000,000 in total
$43,000,000 in deposit balances standing to the
of domestic banks, and increases of $69,000,000 in reserve
balances
on
loans and investments and
with Federal Reserve banks and
to
$71,000,000 in demand deposits—adjusted.'
brokers and dealers in New York declined
and
creased
Below is the statement of the Board of Governors of the
Federal
15
Obligations fully guaranteed by
Loans
of
l
692
brokers
Returns
27
116
credit
and other Fed¬
eral Reserve accounts.--
37
696
cities
Treasury cash and deposits with Fed¬
eral
35
ended
Since
.
-
57
Accepts, and com'l paper bought
Reserve System for the
(-f)
Aug. 19, 1936
Bills discounted--.
1,742
Complete Returns of the Member Banks of the Federal
Increase
.
year
follows:
as
2,078
Loans
Changes in the amount of Reserve bank credit outstand¬
ing and in related items during the week and the
$
2,043
Inter bank deposits:
The statement in full for the week ended Aug. 19, in com¬
Aug. 19, 1936,
1935
$
814
74
Aug. 21
1936
Liabilities—
The System's holdings of bills discounted decreased $2,000,000 during the
week.
Aug. 12
1936
Loans to brokers and dealers:
Aug. 15, aggregate required reserves of member banks increased
approximately $1,470,000,000 during the week ended Aug.
year you
Chicago
Aug. 19
^
8,596
------
business
1935
^
by increases of $113,000,000 in member bank reserve balances, $14,000,000
in
Aug. 21
a
This decrease corresponds with
decrease of $134,000,000 in Treasury cash and deposits with Federal Reserve
banks and
not
was
(In Millions of Dollars)
(except banks)..
19 total Reserve bank credit amounted to $2,457,000,000,
of $20,000,000
be
know."
reported by
same as
just gone
and would
his remark that the wheat situation
on
the Federal Reserve banks, was $2,476,000,000, unchanged
from the
had
ASSETS AND LIABILITIES OF WEEKLY REPORTING MEMBER BANKS
IN CENTRAL RESERVE CITIES
Banks
as
Wallace said it
Surplus Commodities Corp.
people sometimes think," Secretary Wallace first said: "I
volume of Federal Reserve Bank credit
average
Mr.
not know all the provisions, but he said the money was
the
don't want to get into any political controversies," then added:
This information will be summarized in the
with
to
spent immediately in buying wheat, barley and rye seed from "co-ops and
individual companies."
sideration in making their recommendations for the 1937 program.
available at the conferences.
Agriculture Wallace stated at Cleveland on Aug. 19 that the
Government would immediately spend the amount indicated
after
county committees.
will
:
obtained through
Information with respect to demand conditions and prospective supplies
of
Purchase
This
crops.
determined
be
for
Following the announcement on Aug. 14 that the Federal
Government was developing plans for the expenditure of
$10,000,000 for the purchase of seed grains, Secretary of
Concerning the $10,000,000 plan,
at a later date.
crops
Farmers may wish
<
Fed^Kftl Government Allots $10,000,000
of Seed Grain
Conferences looking to the development of a range program for the re¬
mainder of 1936 and for
ize payments on
Agricultural Economics, which
dealers
$5,000,000
outside
and
New
"other
York
loans"
$4,000,000.
increased
$6,000,000 and to
Loans
$13,000,000
to
banks
in¬
in the New
York district,
$1\000,000 in the Chicago district and $43,020,000 at all
reporting member banks.
Holdings of United States Government direct obligations declined
$19,000,000 in the New York district, $13,000,000 in the Cleveland district
and $62,000,000 at all reporting member banks.
Holdings of obligations
fully guaranteed by the United States Government increased
$11,000,000
in the Richmond district and
$6,000,000 at all reporting member banks.
Demand deposits—adjusted increased
$32,000,000 in the New York dis¬
trict, $18,000,030 in the Kansas City district and $71,000,000 at all re¬
porting member banks.
Time deposits increased $11,000,000 in the Chicago
district and $6,000,000 at
of other
all reporting
Kansas City
member banks.
district and $43,000,000 at all reporting
member banks
A summary of the
SfrTh^oun^n?wh2h
Deposit balances
«?In
$35,000,000 in the New York district,
banks declined
domestic
$9,000,000 in the
liabilities of the reporting member
for the week and the year ended Aug. 12,1936,
the event 0f
follows:
affecting any particular loan or
loans the Greek Government will not for that reason
respect of loans where there is no such dispute.
delay payment in
uSiF'heTareadtSStoTlS
tKTS
by tbe paying bankers, who will make an announcement in the press in
due course.
,
A
. .
...
"(4) The transfer of the agreed percentages will be effected for all loans
^ W ^/currency bases
were finally adopted in respect of 1933-34
go
,
Tnrrease
increase
inves,men?-,o(aL...22.324.VoOO
'
ITnaNc°wbrYorTcTty<i<:aler°:
(e?ceDt baS
-.
-
f+l
(+)
or
U.S. govt,
-0 000 000
_2,019,000,000
321,000,000
-1,000,000
-52,000,000
+10,000,000
M46.000.000
Tr'^n'onn
683,'000|000
+ 43,000,000
jq'S'S
+ 463|oooiooo
-4:wo:m
210:000:000
-
3
—62,000,000 +1,531,000,000
9,380,000,000
OttatetS?.
4,855,000,000 '
383,000,000
+69,000,000
+
ment
^'000,000
,'t£i,990,909
+ 303,000,000
*
14,752,000,000
5,021,000,000
821,000,000
+71,000,000 +1,658,000,000
+ 6,000,000
+141,000,000
—1,000,000
+ 261,000,000
—
5,958,000,000
414,000,000
3,000,000
-43,000,000 +1,057,000,000
—3,000,000
+142,000,000
+ 3,000,000
+1,000,000
dtposits—adjusted
deposits
United States govt, deposits
Time
^DomSSc'bJSfi
Foreign banks
Borrowings.-
—-
opinion that the Greek Government could
well transfer a higher percentage of the interest due for 1935-36 and 1936-37,
the Council of Foreign Bondholders and the League Loans Committee,
London, are convinced that larger payments are not obtainable and they
Although they remain of the
thereforeproposals. They bondholders to accept the Greek Government's
recommend the will accordingly recommend to H. M. Governpresent
35,000,000
2,408,000,000
Ba£4o&^ie5—domestlc banks
consideration.
+616,000,000
•
...
Cash in vault—
favorable treatment to all the loans now under
grant at least equally
+233SS
sjulooolooo
Reserve with Fed. Reserve banks.
Demand
S! ££*«£!?£?
+45:ooo:oo°
by
guaranteed
ful.y
that the governments represented on the International Financial
should instruct that Commission to release to the Greek
Commission
Treasury such balances in drachmae out
become free under this arrangement.
would
Greek
external debts, the possibility of arriving at such an arrangement must
obviously depend upon the adequacy of the terms which the Greek Government may offer.
For the Council
Returning to Germany
dollar for conversion of
funds by Germans returning to their native land (Rueckwanderer) is now in effect, it was announced this week
jointly by the New York Overseas Corp. and Robert C.
Mayer & Co., Inc., specialists in this type of exchange,
The new rate was transmitted by transatlantic telephone
from Berlin by R. F. Potts, Executive Vice-President of the
New York Overseas Corp., and becomes effective immediately.
Mr. Potts was a passenger on the "Bremen"
which reached New York Aug. 20.
The announcement
of the designed revenues as will
The bondholders' organizations desire to add that, while they
naturally welcome a permanent settlement for the services of the
of Foreign Bondholders,
For the League Loans Committee,
4.018 Marks to Dollar for Conversion of
Rate of
unable in present circumstances to meet
Greek Government are
|»Th^tSSr^
+ 60 000 000
I I'
direct "obligations
Obligations
an"(5^he
Aug. 14, 1935
000 000 000
real estate
Other loans
(—\
-2i.000.000 + 2,632,000.000
Accpts. and com'l paper bought__
on
Decrease
^Decrease (-)
Aug. 5, 1936
Aug. 12, 1936
.
Loans and
New
^
th® ^
will
there being any dispute
principal assets and
banks, together with changes
Loans
Aug. 22, 1936
Financial Chronicle
1156
Bessborough, President.
London, Goschen, Vice-Chairman.
Funds by Germans
A
regarding the
new
rate said:
\
here is granted by the German
Board of Control under the terms of a new set of regulations known as
Runderlass 104, applying to returning Germans.
Conversion is effected
through the Deutsche Golddlskontbank, Berlin.
The new regulations outlining the preent procedure greatly simplify the
elaborate steps previous y required of the returning German for conversion
of his funds and permit a more prompt liquidation of the transaction.
Special authority for actual conversions
tails Incident to Proposal to Bondholders Regarding Future Service of Dollar Bond Debt
The Foreign Bondholders' Protective Council, Inc. announced on Aug. 15 that it had been informed by Andres
Pastoriza, Envoy Extraordinary
procedural details for giving notice and information to
bondholders of Dominican bonds
„
,
n
The Council
S
continue to be paid a
£
relationship
,nterrupted> sbaU
subject to individual ruling.
Conversions
of
amounts
York
New
Place
accordance with the plan
of
Council
of
Foreign
than individual members, will recommend the admission of
securities to unlisted trading. The amendments provide that
the committees will report to the Board of Governors, which
'Will apply to the Securities and Exchange Commission for
authorization to begin trading in the securities. In a letter
to members, dated Aug. 13, Eugene R. Tappen, Secretary
Speyer & Co. announced yesterday (Aug. 21) the receipt
from
the
League Loans
Committee (London) through
Eliot Wadsworth, the American member, of an announcement regarding the proposal for the service of the Greek
Under the proposal the Greek Government
40% of the interest on their external debt
for the financial years 1935-36 and 1936-37 on condition
that the bondholders' organizations will discuss with them
during the temporary arrangement the possibility of arriving
at
a
permanent
settlement.
Among other things the
proposals set out:
External Debt.
would transfer
of the Exchange, says:
Section 12(f) of the Securities Exchange Act of 1934, as recently
amended, provides, in substance, that applications for the extension of
Unlisted trading privileges on a national securities exchange shall be made
,
.
A
The Gnek Government are unable in present circumstances t°
in i f. Tr.h?.f.serylcf of .their e*ternal 1ebt?' bu« th®y
re'gn exchangee for these
,
same treatment as
It
is
debts
A
meet in
•membere
eecuriticg to un]iated tradi
B the amendment8 to t|e c0„stltuti„n, adopted Aug. 12, 1936, the
appropriate committee of the
during the years 1933-34 and 1934-35.
j,
,
,
.,
and will _
recommend to the
opinion that
Exchange will initiate the
,
,
J?
Board of Governors,
con,
deration of.
...»
•,
.
,
all securities for admission
n
to unlisted trading.
the Greek Government could well transfer a
higher percentage
of the interest due for 1935-36 and 1936-37, the Council of
,«Wnn
T(_
,
'
„
Q
A
_
_b^e WaU Streeit Journal of Au„. 18 commented on the
Foreign Bondholders and the League Loans Committee,
London, are convinced that larger payments are not obtainable and they therefore
the bondholders to
accept the Greek Government's present proposals. '
The
announcement from Mr. W ads worth was mad© public by
Speyer & Co. as follows:
•
_
as follows.
s.
regulatl"fs
°re
f-
°°
„
recommend
The Council of Foreign Bondholders and the League Loans
This
necessitates a change in our procedure from previous years when regular
made appIication t0 the Exchange for the admission of such
,
recognize
The untramferred
"
stated that "although they remain of the
Securities and Exchange Commission by the Exchange itself.
t0
■
,,,
committees, rather
constitution to provide that appropriate
'
*
Curb Exchange Amends Constitution to
Recommendations for Unlisted Trading in
Securities Exchange Act of 1934
The New York Curb Exchange on Aug. 12 amended its
Bondholders
League Loans Committee With Representatives
of Greek Government
JW Do= to make this
Mining ad-
Hands of Committees—Acts in Conformity with
Debt Service Following
Greek External
Discussions
and
the bonds, which relationship had been
submission to tbe bondholdere in the
encouraged.
Proposal for
io
re6t0red conformable to the new plan.
accept the offer of the Dominican
bondholders will be invited to
the Council that the Dominican Government expects
immediate future.
vises
since
^
iod of amortlzation ahall be extended,
that the
bond
,n
j,
,.
,
.
.
confusion
announcement also States:
T
each application was
No time limit is placed on the new regulations.
less than approximately $2,600 will not be
rates, with consequent
the
regarding the plan worked
out in 1934 between the Council and the representatives of
the Republic, under the approval of the Department of State,
for the future service of the Dominican dollar bond debt.
Government in
.
.
.
and Minister Plenipotenti-
of the Dominican Republic to the United States,
that the Dominican Government is now formulating the
ary
The
variation
Out Procedural De-
Dominican Government Working
of 4.018 Marks per
rate
new
ToS an"?
which
have
exchange,
another
and Class
security
3,
or
of
those
the
of
same
listed on another
sufficient information
company
which there
is
available to comply with SEO regulations.
Previously the initiative for placing securities in the unlisted trading
the Board of Governors had the
Committee,
group rested with individual membere and
London, announce, with reference to their recent discussions with repre-
Greek Government has made the following proposal for the service of their
authority to admit the issue.
Under the new regulations, consideration
first wil1 ^ given the security by the proper Curb committee. The com-
external debt:
mittee must present the securities to the SEC for approval.
sentatives of the Greek Government and to their notice of July
"(1)
17, that the
Recent reports have indicated that the Curb will be especially interested
The Greek Government will transfer 40% of the interest on their
in
external debt for the financial years 1935—36 and 1936—37 on condition that
the above-named bondholders
organizations undertake to discuss with
"brother
and
sister"
securities
imnnrhnf
and
...
may
,
apply
,
listing
for
.
,
..
,
of
,
.
several
,
important issues of companies with other stocks or bonds listed elsewhere.
the interval afforded by the present temporary arrangement
the possibility of arriving at a permanent settlement of the service of the
Greek external debt.
them during
^
(2) They will make the necessary payments through the normal channels
bankers.
Coupons will be marked with an indication
made and returned to the bondholders.
*
"(3) In fulfillment of the present arrangement the Greek Government will
(a) make additional remittances forthwith in respect of coupons which fell
due in 1935-36.
Bondholders who have accepted the Greek Government's
CHica^o Board of Trade Increases Mfarcin Reouirements
Erevious offers of now available;coupons will be eligible forthwith in respect
igher payments 35% on these
(b) make remittances to participate in the
ma.rpnn r©4UirementS r»r» nr\r-n trom 6 fr» An -nay LnaLAI
rfifiiiirftmonfo on Corn
*3 to 4C. per bushel.
etiective Aug. 19. At the same time it was announced tnat
and the usual paying
.
of coupons
which have already fallen due in 1936-37 and upon which no
.
v>
1 raae increases margin requirements
—Minimim Requirement for Traders m Corn Placed
of the payments
at 8c
mi
m
a
Bushel
•
I he Chicago Board of Trade ODL Aug.
"
18 increased the
Volume
Board
the
of
directors
Financial
143
ot
ot
in the past. This regulation will become effective
Its practical effect is to increase margin require¬
ments
AUG.
Aug. 18 to
to 8c. per bushel.
A Chicago dispatch of
the New York "Times" commented further on
as
the changes
follow^
effe^ th^£Ustomer increase boosts the minimum margin on wheat,
Par^^^feni 6 to 8c. Corn is increased from 4H to 8c. and oats
4cflj[ AcSffiiy, however, the action is expected to have little effect
except on profre$ftud speculators, for most brokerage houses have been
requiring customers t^post from 8 to 10c. margin on wheat, corn, rye and
In
from 3 to
several weeks.
hedging or spreading
The latter operation consists of sales and purchases of equal
between different contracts of the same grain, or between different
barley and
The
trades.
amounts
slightly lesser amount on oats, for
a
requirements do not apply to
customer
new
markets.
grains, or in any grain between different
in Volume of Outstanding Bankers'
During July—Total July 31 $315,528,440 Compares with $316,431,732 on June 30
Decline
Slight
Acceptances
*
month, made available on
the
volume of out¬
July of $903,292 in the
decline during
A
standing bankers' acceptances is
indicated in the figures for
Aug. 17 by the Acceptance
Bank of New York.
Analysis Unit of the Federal Reserve
which
compares with
$316,431,732 at the end of the previous
month, viz., June 30, 1936.
As was noted in these columns
July 18, page 356, the June 30 figures were the first to be
issued by the Federal Reserve Bank since it assumed the
shown as $315,528,440,
total on July 31, 1936, is
The
work of compiling the
been pre¬
data, which had previously
Council. As compared
with a year ago, the volume has fallen $5,362,306 below
the figures for July 31, 1935, when the amount outstanding
was $320,890,746.
In our item of last month it was pointed
out that the June 30, 1936, figures represented a drop of
$26,854,201 from $343,285,933 June 29, 1935; that the figure
pared by the American Acceptance
about $44,000,000 below the corre¬
for May 30 this year was
sponding month of 1935, while at the end of April it was
less;
the year-to-year
decline for previous
March, $107,000,000; February, $116,000,000;
$69,000,000
months were:
$132,000,000; December, $146,000,000; November,
$174,000,000; October, $199,000,000, and September, $211,000,000.
The relatively small seasonal decline this year,
it was believed (said the New Jork "Journal of Commerce"
of Aug. 18), may indicate that the trend has changed and
January,
volume is due to increase.
bill
that
of
which
trade
trade commenced
due, .it
the
It
to
improve the
the
to
use
was
and
sold
in
open
the pronounced
considered likely that
field.
acceptance
rates
money
and
it
banks
and
the
in
influence
downward
tend
would
While
rates
credit, it
The
and
that
the
on
out,
TOTAL
OF
the
now
there
bank.
increased
business
was
believed
that
the
5% bonds, being all of the bonds remaining outstanding
1923. The bonds are exempt from
Federal, state and municipal taxation. The announcement
of
of the offering also says:
1, 1936, the bank
During the period, June 1, 1936 to Sept.
$2,531,000 2% and 3% bonds, thereby decreasing the total
is
standing by $815,500 and reducing bond interest $93,715 per annum.
♦
Brought in San Francisco to Prevent Federal
Action
Reserve Bank from Making Effective
in Reserve
A suit
50% Increase
Requirements of Member Banks
Court in
filed in the United States District
was
15 seeking to prevent the Federal'
Reserve Bank of San Francisco from exacting a 50% increase
San Francisco
Aug.
on
in the
reserve requirements of member banks (effective Aug.
15) called for by the Board of Governors of the Federal
Reserve System.
The suit was brought by Andrae B.,
Nordskog of Los Angeles. Regarding the latter's complaint,
the San Francisco "Chronicle" of Aug. 16 said that Mr. •
Nordskog's complaint sets forth that the Board's action is
wholly arbitrary, unnecessary, an usurpation of the powers of
Congress, and therefore unconstitutional.
On Aug.^17
Associated Press advices from San Francisco stated:
officials^be
Nordskog asked that the San Francisco bank and its
Mr.
government
financed
by
DOLLAR
COUNTRY
was
remain
report
predicted,
it
was
extremely low.
for
ACCEPTANCES
FEDERAL
BY
adopted by the Federal Reserve board of governors and said the
board had
jurisdiction to make it, and was seeking to usurp the powers
no
of Congress.
•
Weekly financial reports show that banks in the 12th Federal Reserve
funds far in excess of the legal requirements and that
District already have
have been steadily increasing.
reserves
Washington advices in pointing out that the suit named
only the Federal Reserve Bank of San Francisco and did not
include the Reserve Board, indicated that for that reason
the defense would be left to the San Francisco Reserve
staff.
would
credit
government
agencies
of Cleveland Trust Co. on
Requirements of Member Banks
Reserve System—New Regulation Re¬
Col.
by
Comments
pointed
Federal
of
This class
July 31, 1936,
garded
Ayres
as
FOR
DISTRICTS
Adjustment of Brake Mechanism
as
Commenting on the recent action of the Board of Gover¬
nors of the Federal Reserve
System in calling for a 50%.
(effective
increase
OUTSTANDING
RESERVE
July 31. 1936
1.
(Boston)-.
(New York)
June
30, 1936
$30,884,662
228,989,993
11,283,794
3,493,600
$32,370,693
232,668,334
10,895,629
1,540,874
641,618
942,746
(Philadelphia)
4. (Cleveland)
5. (Richmond)
6. (Atlanta)
7. (Chicago)
8. (St. Louis)
9. (Minneapolis)
10. (Kansas City)
11. (Dallas)
3.
622,449
17,707,722
307,131
2,515,648
9,312
654,138
18,098,076
781,717
16,816,002
434,418
1,825,132
19,501
583,654
17,873,329
$315,528,440
$316,431,732
'
-
(San Francisco)
Grand total
Aug.
15)
the
in
of member
Leonard P.
reserves
Federal Reserve System, Colonel
of the
banks
July 31, 1935
of Cleve¬
$27,691,582
240,266,616
12,230,246
1.596,163
133,905
1,358,138
16,674,690
369,463
549,201
1,263,963
18,756,780
$320,890,746
had the following to say, in part, in the company's
"Business Bulletin," issued Aug. 15:
land,
The
to
check,
Board aims
to
if necessary,
its
month, $903,292; decrease for
CLASSIFIED
year,
ACCORDING TO NATURE
July 31, 1936
$104,720,895
68,127,602
have
large,
large
to be
banks
so
held
grown
sudden
June
OF CREDIT
30, 1936
July 31, 1935
Domestic shipments
$99,100,857
86,316,484
9,083,805
37,456,799
2,635,601
83,831,504
Exports
$106,780,471
73,991,670
9,381,012
39,548,307
1,564,361
85,165,911
86,297.200
9,644,915
Domestic warehouse credits
Dollar exchange
shipped
between foreign countries
expansion
of
diagram
The
Own bills,
$131,226,847.
Bills of others, $147,179,231.
Total, $278,406,078.
the
inflationary
credit
[this
we
excess
policy by
a
10
the
bank
from
years
1927
through
be
so
on
which
small,
have
that
the
great
a
and
based.
attempts
1936.
Under
amount
deposits
to
of dollars the required
be able
to
the
on
reserves
might have been
omit.—Ed.]
depends
however,
shrunk
have
of
in
and
expansion of credit.
bank
a
depression,
and loans
amounts
of
power
first step
a
bank credit,
show
to
in
artificially
reserves
The solid
of all member banks
During
the
first
four
years-
they were a little less than 2^ billions, and then they declined as deposits
fell
in
the
depression until they were less than two billions.
Then
deposits
began
required
reserves
their
three
billions.
4y2 billions.
The
Reserve
always
banks
find
way
been
its
Now
possible
the
.
banks
been
member
vigorous increase
as
also increased, until this
about
has
BILLS HELD BY ACCEPTING BANKS
future
it is
over
simplified form how the new regulation is designed to operate.
for
47,488,986
1,714,538
Imports
Based on goods stored In or
$5,362,306.
any
During
reserves.
is that
move
regain control
banking system the lending
our
of
of this
significance
which the
line shows in billions
Decrease for
.
"secret policy" of currency de¬
He charged the order was in line with a
flation
Increased Reserve
from the
Federal Reserve District
2.
12.
issued
amount_out-
Ayres, Vice-President of the Cleveland Trust Co.
,
will^have
$3,346,500 of its 5% bonds and will have
retired in the aggregate
Bank's legal
acceptances.
of
use
acceptance field
straight bank loans
BANKERS'
ENTIRE
business
of
use
a
in commercial loans by
It
paper.
the
that
many cases
the New York Reserve Bank:
by
out
issue
of its issue dated March 1,
held, would continue to compete effectively with bills.
was
following
given
$953,000 5% Bonds
of $800,000 Atlantic Joint Stock Land Bank
(Raleigh, N. C.) five-year 3% farm loan bonds, due Sept. 1,
1941, was offered on Aug. 18 by a banking syndicate headed
by Robinson & Co., Inc., and including Priester-Quail &
Co.; Nichols, Terry & Dickinson, Inc.; Ames, Emerich &
Co., Inc. and Kirchofer & Arnold, Inc., at price of 100 and
interest to'yield 3%. The bonds will be dated Sept. 1, 1936,
will run to Sept. 1, 1941, and will be redeemable at par on
Sept. 1, 1938, or any interest date thereafter.
Principal
and interest (March 1 and Sept. 1) will be payable at the
offices of the bank, at the Wachovia Bank & Trust Co.,
Winston-Salem, N. C., or at the American National Bank
& Trust Co., Chicago, 111. The bonds will be in coupon form
in denominations of $1,000.
The proceeds of the sale of
these bonds will be used toward the retirement of $953,000
market.
bill
expansion in
that
out
commercial
believed
also
to
resort
of
use
would be reflected in the
bankers
Some
of
of
An
drawn
contribute to expansion
pointed
was
the
less important
not
that in
so
borrowing directly from
over
two factors would
First,
This was
finance
to
which bills hadi been
Another
market.
easing of
credit
government
activity had already created considerable expansion
same
5-16
banking credit at a time when Americans most need such accommodations."
However, when
of bills failed to increase.
of
use
advantage in drawing bills
the
in
H
%
H
5-16
180
through the Federal Reserve System $15,000,000,000 worth of potential
of acceptances.
use
shipment of commodities against
past
was
no
5-16
150
Offering of $800,000 Five-Year 3% Farm Loan Bonds
of Atlantic Joint Stock Land Bank of Raleigh,
N. C.—Proceeds to Be Used Toward Retirement
paper
for Decline
financed by
are
believed,
was
storage and
factor
same
120
3-16
Ya.
Y\
90-
major factor making for lower volume had been the decline in those
classes
was
From the
.
Reasons
The
in
3-16x
60..
enjoined from putting the order into effect, and asserted it would "destroy ;
quote:
we
Selling Rate
Rate
3-16
30
and
rye
Dealers'
Dealers'
Buying
Days—
Rate
Rate Selling
Buying
1936
15,
Dealers'
Dealers'
Days—
non-members from
in speculative trades to
corn
on
4!^
BANKERS' ACCEPTANCES
CURRENT MARKET RATES ON PRIME
agreed that adequate initial
customers on grain transactions
had
margin requirements to
(except on hedging and spreading trades) shall be 200%
the Clearing House requirements as a minumim, instead
150% as
Aug. 24.
1157
Chronicle
new
government
summer,
has
debt
grew,
when they were
lifted
them
by
and
about
50%
to
.
have held
possible
by buying
for
more,
into the possession
for
regulation
the
the
Reserve
large amounts of Federal securities, and it
them
to
increase
for the
of
the
banks
money
member
to
the
owned
they paid
banks,
decrease
the
reserves
of
for them would
and it has always
owned
reserves
of
Financial
1158
securities, for the money paid would
the Reserve banks. These dealings
are known as open
market operations.
The dotted line shows how low the
owned reserves of member banks might have been reduced by such open
market operations,
and consequently it shows how heavily the member
banks might have been
compelled to borrow to maintain their required
member banks
banks and be held by
that
and
1935
In
This
1936
Reserve
if the
even
the
above the solid
had finally increased so greatly
banks had used all their resources in open market
dotted line in the diagram rises
that the owned reserves
means
the
the member banks would still have had excess reserves and no
central control over their use of them would have been possible.
This has
Judge O'Dunne took
of this fact, established by previous court decisions, in dis¬
preferred list, those set up under court order.
cognizance
before him.
missing the petitions
before Judge O'Dunne in Criminal
the ground that the trust was set up
after sanction had been obtained in an equity court here.
This was in
addition to the contention of all four that the petitioners were entitled
petitioners in the four cases
One of the
2 claimed preference on
their own property.
to recapture
beer,
lifted
open
the
changed by
regulation, and the solid line has once more
dotted one, and credit control by means of
market
well
operations has once more become a possibility.
The new
not stiffened interest rates or effected a restriction on
expansion.
It is merely an adjustment of a brake mechanism by
credit
brake
it
is
using
the
has
regulation
which
new
above
down against the
drum.
For a long time past that could not have been done, and
a
prudent precaution to have it done now before any necessity for
the financial brakes has arisen.
brake
the
by
court it would occupy a
a
Established
Comptroller's Call June 30—Total at
of
Date
at
with $24,859,455,000
$26,200,453,000 Compares
on
March 4
Comptroller of the Currency J. F. T. O'Connor announced
Aug. 20 that the total deposits of the 5,374 active national
banks in the continental United States, Alaska, Hawaii and
on
the Virgin
Islands of the United States on June 30, 1936,
call made for statements of condition,
the date of the last
aggregated $26,200,453,000, which is a new high record for
national banks, exceeding by $1,340,998,000, or 5.39% the
amount reported as of March 4,1936, the date of the previous
high record in deposits of national banks since the establish¬
ment of the system.
The current figures show also that
deposits increased $3,682,207,000, or 16.35%, over the
amount reported as of June 29, 1935, the date of the cor¬
responding call a year ago.
In his further advises regarding the Junr 30 figures, Comp¬
troller O'Connor says:
'
The total deposits on June
30, 1936 consisted of demand and time de¬
partnerships and corporations amounting to $11,665,872,000 and $7,074,544,000, respectively: United States Goverment de¬
posits of $692,527,000; State, county and municipal deposits of $2,108,- *
486,000; postal savings of $137,376,000, and deposits of other banks, in¬
cluding ceritfied and cashiers' checks outstanding of $4,521,648,000.
The
time deposits of individuals, partnerships, and corporations include time
certificates of deposit of $667,621,000 and deposits evidenced by savings
pass
books of $6,067,704,000, the latter amount representing 15,101,486
Postal savings in national banks on June 30, 1936, showed a,
accounts.
458,000, or 43.43%, since June
total assets
The
creases
and a decrease of $105,-
$12,873,000, or 8.57%, since March,
decrease of
on
June 30,
of last year.
1936, were $29,702,839,000, showing in¬
in the 4 and 12 mohth periods
of $1,409,820,000 and $3,641,774,000,
respectively.
Loans
<
,
and discounts
aggregating $7,759,149,000
showed an increase of
$393,923,000 in the year.
Investments in United States Government obligations direct and fully
guaranteed were $8,447,364,000, in comparison with $7,785,979,000 on
March 4, 1936, and $7,173,007,000 on June 29, 1935.
Investments in
such obligations at the date of the recent call comprised direct obligations
of the United States Government of $7,072,979,000, obligations of the Re¬
construction Finance Corporation of $174,944,000, Federal Farm Mortgage
Corporation bonds of $336,258,000 and Home Owners' Loan Corporation
bonds of $863,183,000.
Other bonds and securities held totaling $4,035,261,000 showed increases in the 4 and 12 month periods of $232,224,000
and $491,882,000, respectively.
\
Balances with other banks and cash items in process of collection of
$7,857,233,000, including reserve with Federal Reserve banks of $3,520,901,000, increased $120,140,000 and $1,394,525,000 over the amounts re¬
ported as of March 4, 1936 and June 29, 1935, respectively.
Cash in
vault of $531,694,000 increased $62,652,000 since March and $126,181,000
$328,285,000 since March, and an increase of
30, 1936,
totaled $1,692,375,000, representing a par value of $1,698,251,000.
The
latter figure consisted of Class A preferred stock of $423,228,000, Class B
preferred stock of $20,261,000, and common stock of $1,254,762,000.
Surplus funds of $973,393,00°, undivided profits of $346,039,000, reserves
for contingencies of $147,219,000, and preferred stock retirement fund of
$7,702,000, a total of $1,474,353,000, increased $94,384,000 since March
National Bank Stock Not Subject to Missouri
According to State Attorney General
Shares of
Income Tax,
of the active banks on June
$1,771,000, respectively.
The
percentage
1936 was
on
of $447,000, a total of $2,12 month periods of $2,300,000
payable of $2,425,000 and rediscounts
872,000, showed decreases in the 4 and
added:
shares of the First National Safe Deposit
Co. of St. Louis, all of the stock of the corporation being owned by the
First National Bank of St. Louis, which receives all of the income of the
question arose in taxing
This
safe deposit
company.
ruling says the State is restricted
of shares of national bank associations,
and that the imposition of any one of the four ways pointed out in the
statutes excludes the power to tax in any other manner.
In this case,
the State having levied the ad valorem tax on the shares of the safe deposit
General McKittrick in his
Attorney
four ways in the taxation
to one of
levying the income tax.
$1,824,660,000 Long-term Government Bonds Held in
National Banks June 30,
1936—Compares with
$964,876,000 Dec. 31, 1935—United States Obliga¬
tions
Totaling $8,447,364,000
Held in National
660,000
with
$7,785,979,000
In
held
of
the
in
increase
no
Judge O'Dunne, predicating his decision upon
the
time
the closed
of the
bank
accounts upon
as
a
Baltimore
Trust failure,
banks,
banking laws in force at
decided that four accounts in
The decision, in relation to other suits, is
general
regarded
The failure of the
The
rBoard
raised
the
,
holdings
by
Board reported that there will
be
government
has been estimated
requirements for member
potentialities that
50%, fearing
by
requirements
credit
a
hit the
high levels of between $3,000,000,000 and $3,500,000,000.
The increase
in requirements was aimed to bring down the
excess to $2,000,000,000,
which the Board claimed is ample to "meet all present and prospective
boom,
demands
for
after
excess
reserves
bank credit for business
Rise
deposited'
banks
Reserve
recovery."
than
Less
in
Expected
Today's Reserve Bank condition statement revealed that reserve balances
deposited
with
that
total
and
this
On
of
$8
the
banks
Reserve
excess
$1,700,000,000 and
basis
estimated
Reserve
uted
Referring
expected
the
at
new
ratio
would be only $14,000,000,000 instead
for
other
the
fact
Treasury
by
.
the
deposits
Treasury
that
in
been
expected
Reconstruction
Finance
rapidly
as
continued the
been
The Board today attrib¬
had
as
.
Bankers Association
"sporadic" spots the increase in reserve require¬
of
the
American
effect.
here.
Mr.
Fleming
remarked:
probably will
requirements
reserve
have
present ratio
agencies.
Fleming
situation
banks
to
withdrawn
the
to
the
$42,000,000,000.
estimate
little
to the
had
that
were
been
V.
except
have
the
because
the
some
additional
"The
supported
be
could
of reserves
said
not
Robert
would
ments
of
had
and
that
asserted
as
will be between
$16,000,000,000.
repayments
President
much
as
regulations
new
.
that
deposits
Board
inaccuracy
increased
not
$1,750,000,000.
the
deposits to $1
in
have
under the
reserves
potentialities of expansion
The
been
carrying
will
affect
more
cause
no
than
reserves
dislocation
the
new
regulations
6,377
member
banks,
require¬
State
and
National.
The
banking laws, under which Judge O'Dunne gave his
positions for trust accounts has been remedied
in legislation passed by the Legislature since the Baltimore Trust collapse
and operative in the cases of possible future bank failures.
•
total
the
Reserve
credit
bank
necessary.
on
puts into effect its new increased reserve
inflation
Aug.
test.
decision, to provide favored
comment
the Federal
as
$2,000,000,000 less in
after it
will be
rates
to
business conditions no new
in
ments."
did not occupy such positions of preference over
deposit.
present
proposing that as a
taxes and
President
the
to
wrote
improvement
declined
Officials
Corporation
"Sun," which in its
Morgenthau
continued
National
prompted the letter which Secretary
Currency last Monday,
Treasury
of
result
the amount of govern¬
on
President Roosevelt by the Comp¬
by National banks, given to
the
troller of
informed circles the figures
well
unually
ments
Comp¬
the eve of the Federal
reserve requirements
for
on
increased
new
on
effective Aug. 15, added, in part:
member banks,
Such Preference in
Aug. 7, according to the Baltimore
issue of Aug. 8 added:
noting on Aug. 14 that the
"Journal of Commerce,"
Board's
$7,812,112,000
.
correspondent of the New York
troller's figures were announced
Reserve
and
4
March
on
The Washington
31.
Dec.
of
on
June 30, 1936, compared with
$855,563,000 held on March 4 this year and $964,876,000 on
Dec. 31, 1935.
At the same time the Comptroller reported
holdings of $8,447,364,000 government obligations held in
National banks on June 30, 1936, these figures comparing
banks
Maryland banking laws, now occupy preferred positions
over
accounts of general depositors, it was pointed out
obligations maturing after
government
long-term
1949 held in National banks on
because
of Judge Eugene O'Dunne's decision in the
cases Aug. 6, trust funds, under revised
inquiries with refer¬
long-term government
many
bonds," Comptroller of the Currency J. F. T. O'Connor made
available on Aug. 15 figures showing a total of $1,824,-
Reserve
Regardless
and
banks of
purchase by
the
to
ence
interest
of the
Maryland Banking Laws Revised to Make Trust Funds
Preferred Over Accounts of General Depositors—
Baltimore Trust Co.
1936
Banks June 30,
"Because
The
Judge O'Dunne Ruled Against
Case of Baltimore Trust Co.
from
specific terms of the Missouri statutes
is precluded by the
company,
of
1935.
ad valorem tax.
restricted in taxing such shares to an
The State is
of loans and discounts to total
29.61, in comparison with 29.89 on
June 29,
deposite on June 30,
March 4, 1936, and 32.71
associations are not
in national banking
subject to Missouri State income tax, it was ruled on Aug. 11
by Attorney General McKittrick in an opinion sent to
State Auditor Forrest Smith, according to a dispatch from
Jefferson City to the St. Louis "Globe-Democrat," which
and $197,438,000 in the year.-
and
the plaintiffs' own.
identified sufficiently as
.
.
book value of capital stock
Bills
had not been
when he held that the property
dismissed in all four cases
banks.
in the year.
The
the plaintiffs' own property he
petition on the right to recapture
The
of individuals,
posits
established.
had not been
court action
Shares of stock
High Figure of National Bank Deposits
New
been properly ordered
preferred position, but he held that such
pointed out that if the trust had
if necessary, be tightened
could,
shoes
Judge O'Dunne
Ruling
Not Established,
;
operations
been
class of trusts upon
the bank closed there was only one
the time
At
Court No.
'
reserves.
line.
Remedied by Statute
by selling their Federal
leave the member
1936
22,
Aug.
Chronicle
figures
made
public
by
Comptroller
O'Connor
on
15 follow:
Long-term Governments Maturing After 1949 Held in National Banks
Dec.
31, 1935.
Mar.
4, 1936
June 30,
1936
__
,r
h
_
$964,876,000
855,563,000
1,824,660,000
Volume
Total of
Financial
143
All United Stales Government Obligations Direct and Fully Guaranteed Held
in National Banks
Dec.
June
1159
1935—
1935—
January
31, 1935
4, 1936
30. 1936
Mar.
Chronicle
$7,812,112,000
7,785,979,000
8,447,364,000
-
S5,420,800 purchased
November
February
1,300,000 purchased
41,049,000 purchased
December
21,990,000
23,326,525
8,765,500
33,426,000
35,439,100
60,085,000
17,385,000
January
March
April
May
Detailed
figures
for
the
National bank
1936, given out by the Comptroller
in another item in
on
of June 30,
call
20, are given
Aug.
this issue.
June
July
August
September
October
$18,419,000 sold
5,275,200 purchased
1936—
sold
purchased
18,546,850 purchased
4,500,600 purchased
32,702,150 purchased
19,025,000 purchased
15,794,000 purchased
February.*
purchased
March
purchased
April.*..*
May.
purchased
June.
purchased
July
purchased
30,465,400 purchased
15,466,700 purchased
Bids
Totaling $182,740,000 Received to Offering of
$60,000,000 of 273-day Treasury Bills Dated Aug. 19
—$60,064,000 Accepted at Average Rate of About
Gold
0.194%
of
the
Treasury
Henry
Morgenthau
Jr.
an¬
Aug. 17 that tenders of $182,740,000 had been
m., Eastern Standard Time, that day,
on
received up to 2 p.
to the
offering of
$50,000,000, or thereabouts, of 273-day
Treasury bills, dated Aug. 19, 1936, and maturing May 19,
The offering was referred to in our issue of
Aug. 15,
1936.
1003.
Of
$50,064,000
was
page
the
tenders
The
accepted
about
per
bid
at
for
bills
to
annum
bids
0.177%
0.198%
the
on
is
bank
Secretary
the
said,
various mints and assay offices.
It is stated that of this
$6,608,394.44 represented imports,
$398,009.75
secondary and $2,761,090.11 new domestic gold.
According
to the
Treasury the gold was received as follows by the
various mints and assay offices
during the week ended
Aug. 14:
amount
RECEIPTS OF GOLD BY THE MINTS AND ASSAY OFFICES
Aug. 17 Mr. Morgenthau also had
Imports
in
price
to
annum,
on
latter
issued
a
ranged
per
annum,
be
received,
bank
a
price
Treasury announced 6n Aug. 17 that $9,767,494.30
during the week ended Aug. 14 by the
of gold was received
accepted.
In his announcement of
the following to
say:
of
Ended Aug. 14—Imports Totaled $6,608,394
The
Secretary
nounced
Receipts by Mints and Assay Offices During Week
•
from
99.850,
99.866,
equivalent
discount basis.
was
accepted.
99.853# and
the
equivalent
to
The average
average
rate
a
Only part of
rate
is
price
about
to
rate
a
of
about
Philadelphia
New York
San Frahcisco
the amount
Denver
of Treasury
New Orleans
0.194%
per
Secondary
$7,925,08
5,981,600.00
564,812.87
54,056.49
_
$154,037.45
155,300.00
30,080,39
New Domestic
$137.06
55,500.00
1,504,563.77
574,056.50
19,095.75
;
296.48
30,706.70
Seattle.
8,799.46
626,536.30
discount basis.
Total for week ended Aug. 14.
The average rate of
0.194% compares with rates on recent
issues of 273-day bills of
0.213% (bills dated Aug. 12),
0.230%
(bills dated Aug. 5), 0.224% (bills dated
July 29),
0.115%
(bills dated July 22), and
0.071% (bills dated
July .15).
$6,608,394.44
$398,009.75
$2,761,090.11
$173,392 of Hoarded Gold Received During Week Ended
Aug. 12—$13,440 Coin and $159,962 Certificates
In
on
an announcement issued
by the Treasury Department
Aug. 17 it is noted that during the week ended Aug. 12, the
Federal Reserve banks and the Treasurer's office received
New
.-v-
Offering of 273-Day Treasury Bills to Amount
$50,000,000, or Thereabouts—To Be Dated
of
Aug. 26,
1936
On
Aug. 20 tenders were invited by
Acting Secretary of
Treasury Taylor to a new offering of
$50,000,000, or
thereabouts, of 273-day Treasury bills, to be sold on
a dis¬
count basis to the
highest bidders.
The tenders will be re-)'
the
$173,391.60 of gold coin and certificates.
Since the issuance
of the order on Dec. 28, 1933,
requiring all gold to be re¬
turned to the Treasury, and up to Aug.. 12 total
receipts
have amounted to $144,848,851.62.
Of the amount re¬
ceived during the week ended Aug, 12, the
Treasury's state¬
ment shows, $13,439,60 was gold coin and
$159,952 gold
certificates.
The following is the Treasury's statement:
ceived at the Federal Reserve
banks, or the branches thereof,
up to 2 p. m., Eastern Standard
Time, Monday, Aug. 24,
but will not be received at
the
GOLD
RECEIVED BY
THE
Treasury Department, Wash¬
ington.
THE
FEDERAL RESERVE BANKS AND
TREASURER'S
OFFICE
(Under Secretary's Order of Dec. 28, 1933)
'
"
Gold Coin
Gold
The
Treasury bids will be dated Aug. 26, 1936, and
mature on May 26, 1937.
On the
maturity date the
amount
issue
of
of
mature
the bills will be
pajrable without interest.
securities in amount of
will
face
An
similar
$50,050,000 will
Aug. 26. From Secretary Morgenthau's announce¬
Aug. 20 the following is taken:
They (the bills) will be issued in bearer form
only, and in
denominations of $1,000,
$10,000, $100,000, $500,000 and
maturity value).
It is urged that tenders be
made
tender for an amount less
than $1,000 will be
considered.
Each
tender must be in
multiples of $1,000.
The price offered must be
expressed
on the basis of
108, with not more than three decimal
places, e. g., 99.125.
Fractions must not be
used.
»
Week ended Aug.
securities.
a deposit
% of the face amount of
Treasury bills applied for, unless the tenders
an express
guaranty of payment by an incorporated
trust
or
company.
Immediately after
the closing hour for
receipt of tenders
at the Federal Reserve
banks or
1936, all tenders received
up
to
the closing
acceptable prices will follow
right to reject any
The
on
Aug.
24,
branches thereof
hour will be opened and
following morning.
public announcement of the
as
soon as possible
thereafter, probably on the
Secretary of the Treasury expressly reserves the
or all tenders or parts
of tenders, and to allot less than the
amount applied for, and his
action in any such
respect shall be final.
Those
submitting tenders will be advised of the
acceptance or rejection thereof.
Payment at the price offered for
Treasury bills allotted must be made at
the Federal Reserve banks
in cash or other
immediately available funds
Aug. 26, 1936.
The
$2,496,920.00
bars deposited with the New York Assay Office in the amount of
$200,572.69 previously reported.
1
,
Previous reference
made in
gain from the sale
except
or
as to
principal and interest, and
any
other disposition thereof
will also be
exempt, from all
and inheritance taxes.
estate
(Attention
No loss from the sale
or
,
the
to
are
is
invited
to
not exempt from the
other
disposition of the Treasury bills
shall be allowed as a
deduction, or otherwise recognized, for the
purpose of
any tax now or hereafter imposed
by the United States or any of its
pos¬
sessions.
Treasury Department Circular No. 418, as
amended, and this notice
prescribe the terms of the Treasury bills and
govern the conditions of their
receipts of hoarded gold
was
issue of Aug. 15, page 1004.
*
Silver Transferred
zation
Order
Amounted
to
to
United
States
Under
Nationali¬
During
Week
Ended
1,138.10 Fine Ounces
Aug.
14
,
Transfer of silver to the United States under the Execu¬
tive Order of Aug. 9, 1934, nationalizing the metal, was in
amount of 1,138.10 fine
ounces
during the week ended
Aug. 14 it was made known in a tabulation issued by the
Treasury Department on Aug. 17.
Total receipts since the
order of Aug. 9 (given in these columns of Aug. 11, 1934,
858) was issued amount to 112,966,617.11 fine ounces,
Treasury announced.,
The tabulation made available
Aug. 17 by the Treasury follows:
page
the
on
SILVER TRANSFERRED
TO
UNITED
STATES
(Under Executive Proclamation of Aug. 9, 1934)
Week Ended Aug. 14, 1936:
Fine Ounces
-
------
New York—*
Treasury Decision 4550, ruling that
Treasury bills
gift tax.)
on
our
Philadelphia
Treasury bills will be exempt,
taxation,
$268,656.00
Total to Aug. 12
Tenders from others must be
accompanied by
accompanied by
bank
$6,900.00
2,490,020.00
12*.*
Note—Gold
Tenders will be
accepted without cash deposit from
incorporated banks
and trust companies and
from responsible and
recognized dealers in invest¬
of 1
$110,384,210.00
Received by Treasurer's Office:
$1,000,000
envelopes which will be supplied by the Federal
Reserve banks
branches upon application
therefor.
are
$153,052.00
110,231,158.00
~2~68,656~00
Total to Aug. 12
$13,439.60
31,685,626.02
$31,699,065.62
.
or
No
ment
12
Received previously
Received previously
amounts
the printed forms and
forwarded in
on
the special
or
Week ended Aug.
on
ment of
Certificates
Received by Federal Reserve Banks:
-
1^1.10
San Francisco
1,007.00
Denver
New Orleans
—
Seattle—*
<■--
-
*—
—
Total for week ended Aug.
14, 1936
Total receipts through Aug. 14, 1936
*
*
1,138.10
112,966,617.11
In the Chronicle of Aug. 15, page 1004 reference was made
to the silver transferred during the week ended Aug. 7.
issue.
of Newly-Mined Silver by Mints and Assay
Offices from Treasury Purchases Totaled
615,147.94
Fine Ounces During Week Ended
Aug. 14.
Receipts
Treasury Purchases of Government Securities Totaled
$15,466,700 During July
Net
market
purchases
Treasury investment
of
accounts
Government
for
the
July,
1936,
Aug.
17 by the Treasury Department.
noted
in
amounted
these
columns
to
18,
page
purchased $30,465,400 of the securities.
The
in
calendar
$15,466,700, it
July
securities
was
month
of
announced
During June,
359,
for
the
as
Treasury
,
following tabulation shows the Treasury's transactions
Government securities by months since
tjie beginning
of 1935:®
Silver
amounting to 615,147.94 fine ounces, purchased by
Treasury in accordance with the President's proclamation of Dec. 21, 1933 (which authorized the
Treasury Depart¬
the
ment
to
absorb at least
mined silver
annually)
24,421,410 fine ounces of newlyturned over to the various mints
was
during the week ended Aug. 14.
A statement issued by the
Treasury on Aug. 17 indicated that the total receipts from
the time of the issuance of the proclamation and
up to
Aug. 14 were 96,164,632.58 fine ounces.
Reference to the
President's proclamation was made in our issue of Dec.
31,
1933, page 4441.
Below is the statement issued Aug. 17, by
the Treasury Department:
Financial
1160
(Under Executive
\E£\*d AU°' 14' 1936
Francisco
San
^300,000.63
—
Philadelphia
'
Denver
ended Aug. 14, 1936—receipts through Aug. 14, 1936
Total for week
Total
164
96,164,632.58
newly-mined silver during the week ended
noted in these columns Aug. 15, pu»ge 1004.
Aug. 7 were
*
r
States Foreign
Roosevelt Declares United
Policy Is Based on Peace and
Neutrality—De¬
Neighbor
Example to Other
Good
of the, United States is based on peace
regardless of any pressure that might be
exerted either abroad or at home, President Roosevelt said
on Aug
14 in a speech delivered at Chautauqua, N. Y.
The
President reiterated his "good neighbor" policy, and he said
that this country does not intend to follow a course of isola¬
If war should break out in another
would be thousands of Americans
who, for the sake of profits, would attempt to break down
our neutrality, and he warned that this Nation must always
choose peace rather than profits.
Mr. Roosevelt cited cooperation between the United States
and other nations in this hemisphere as the best example
of international amity for the world.
He said that the PanAmerican conference which will be held at Buenos Aires on
Dec. 1 is evidence of the intention to perpetuate
those
remain.
•
on
He denounced
that
wish
that
we
and
seek
We
is
It
dominate
to
believe in
We
We desire reduction in world armaments.
believe in freedom; we believe in peace.
We offer to
democracy;
we
friendship look
those who wish our
The President said
is the
It
in the eye and take our hand;.
us
monument" to peace
that the "noblest
between Canada and the United
is the unfortified boundary
States.
neighbor.
nation of the world the handclasp of the good
every
country, he declared, that
hope of this
"knowledge of the practical application of the good neighbor
policy in this hemisphere will be borne home to our neigh¬
bors
across
the seas."
World is not all that we seek.
the practical application of the good
policy in this hemisphere will be borne home to our neighbors
the
across
seas.
As
of
many
of
vears
I
with you
A
would
few
and
I
formed
I
20
years
ago.
the excellent
After my
to
this that
it is in fulfilment of
Chautauqua again;
tonight.
days
I
ago
replied
than
more
I promised Mr. Bestor that during the next four
1933
come
tonight know,
here
are
Chautauqua
to
inauguration in
I
am
who
you
coming
that
of this talk would be;
what the subject
asked
was
for two
good
to discuss the subject
wanted
I
reasons
Chautauqua, and
it is important
people should not overlook problems and issues which, though
they lie beyond our borders, may, and probably will, have a vital influ¬
of
first,
peace;
secondly,
that
because
because
in
it is
hurly-burly
the
ourselves,
For
the United
on
States
Many who have visited
have
been
in
politics
domestic
concerned
and
immediate
I
our
less
this to
say
that
cheerful
not
you
hatred
envy,
who
has
manner
who
foreign
has
spent
malice
a new
pessimist,
are on
we
good terms with them—terms,
in
the decisions
of
many
of
of
and
peace
ence
and
the study of
24
every
hours in
relations.
"Good Neighbor"
Policy to Which Nation, Was Dedicated in His 1933
Address
.
Long
States
more
before
I
had
returned
made
up
my
opportune moment
the
serve
why
was
I
cause
on
of
Washington
President
as
United
the
of
be1 called a
other continents, the United States could best
mind
peaceful
a
the 4th
on
to
that,
humanity
of March, 1933,
what might
pending
by
setting
That
example.
an
following declaration:
I made the
of all this,
spite
we
bitter
deal with the manufacture of
That proposal also came to
nothing.
We participated—again to the bitter end—in a conference to
continue naval limitations, and when it became evident that no general
treaty could be signed because of the objections of other nations, we
concluded with Great Britain and France a conditional treaty of quali¬
tative
limitation
which, much to my regret, already shows signs of
it
failed,
separate treaty to
sought a
we
in arms.
international traffic
the
and
arms
ineffectiveness.
declaration
purpose,
for
succeeded;
it
represents
stands
the
for
predatory ambitions.,
no
that
they
need
fear
not
my
a
whole world
We
knows
our
are
but
purpose;
practice.
now
strong j
strength.
To
it
the
but less
We
represents more
measurable
a
that
seek
United
powerful
no
than
degree
States
nations
conquest;
it
a
has
cherishes
shun
we
the
Yet we must remember that so long as war
some
danger that even the nation which
completely from war.
be
will
there
earth
on
desires
ardently
I
have
may
peace
I
seen war.
have
war
seen
of
the
The
noblest
Western
are
monument
Hemisphere
good neighbor
our
friendship in all the world is not a monument in bronze
boundary
a
,
of
regiment
children
friendship
the
or
1,000
starving.
that
.
seen
passed unnumbered hours, I shall
have
I
Would
Conscience
Clear that
Make
whole frontier.
,
I
wish
could
right.
dark
keep
of America Revolts Against
War
all nations;
from
war
•
World
Old
A
dark,
modern
devastated
was
political
it
fanaticisms
home, it
is
as
nations
with
and
eternal
48
world
in
substance
and
their
one
hope,
of
therefore
ments
intertwined race hatreds.
the United
government, 48 customs barriers, 48
different verities, were spending their time
are
of
effort
of
neighbors
or
to
strong
make
enough
themselves
to defend
Agreements
as
Contribution
To bring
States, 48
languages
and their
strong enough to
themselves against
Toward Peace
field, that of economic barriers, the American
some
a
assistance
contribution
which
American
way
by wars between conflicting religions.
between
conflicting economic and
neighbors.
In
of
wars
which
in
frenzy
a
faces
if within the territorial limits of
forms
48
policy has
on
unnumbered hours, think¬
this Nation.
pass
but that is beyond my
power.
I can at least make certain that no act of the United States
helps to produce or to promote war.
I, can at least make clear that the
conscience
of America
revolts against war and that any nation
which
provokes war forfeits the sympathy of the people of the United States.
Many
causes
produce
war.
There are
ancient hatreds, turbulent
frontiers, the "legacy of old forgotten, far-off things, and battles long
ago."
There are newborn fanaticisms, convictions on the part of certain
peoples that they have become the unique depositories of ultimate truth
I
their
of
I have seen blood
forward 48 hours before.
I have seen
the agony of mothers and wives.
I
went
have
I
ing and planning how war may be kept from,
stand
stone but the
land and sea.
war.
conquer
unites the United States and Canada—3,000 miles
with no barbed wire, no gun or soldier, and no passport
which
most
I have seen men coughing out their gassed
lungs.
I have seen the dead in the mud.
I have seen cities destroyed. I
have seen 200 limping, exhausted men come out of line—the survivors of
know
especially heartening.
to peace and to neighborly economic and social
on
exists
"
into war.
drawn
be
running from the wounded.
Trade
whole
produced results that
Wars
which
commitments
political
for peace.
In
Us in Foreign
might entangle us in foreign
wars; we avoid connection with the political activities of the League of
Nations; but I am glad to say that we have cooperated whole-heartedly
in the social and humanitarian work at Geneva.
Thus we are a part of
the world effort to control traffic in narcotics, to improve international
health, to help child welfare, to eliminate double taxation and to better
working conditions and laboring hours throughout the world.
We are not isolationists except in so far as we seek to isolate ourselves
A
This
Entangle
Would
Which
Commitments
Avoid
Would
"In the field of world
policyll would dedicate this Nation to the policy of the
good neighbor
the neighbor who resolutely respects himself and because he does
so, respects the rights of others—the neighbor who respects his obligations and
respects the sanctity of his agreements in and with a world of neighbors."
pledged word.
have sought steadfastly to assist international,
prevent war.
We cooperated to the bitter end'—and it was a
end—in the work of the general disarmament conference.
When
In
movements to
and
!>
•
continents.
scrupulous respect for the
be sustained only by
can
men
war
who has traveled much,
one
in most cases,
of recent
It is a bitter experi¬
to us
to which we are a party is not
lived up to.
It is an even more bitter experience for the whole company
of nations to witness not only the spirit but the letter of international
agreements violated with impunity and without regard to the simple
principles of honor.
Permanent friendships between nations as between
many of the nations of other
when the spirit of agreements
years among
one
and goodwill; I say this
peace
Sustained Only by Respect
straightforward friendship, of peaceful understanding.
But, of necessity, we are deeply concerned about tendencies
of
hate
who still
reached their
but as
have
nations
among
tide of
goodly portion
a
than
i
confirmed
as a
and
participated
of
more
prospects.
before, during and after the World War;
one
situations I am
world
conditions
of difficult
international
about
domestic
peak and will be succeeded by
one
future.
in Washington in the past few months may
surprised when I have told them that personally and because
about
hopes
of the
me
daily contacts with all
own
as
of
.
.
our
ence
my
appropriate
eminently
■
Friendships Between Nations Can Be
for Pledged Word
Permanent
We
habit
„
,,
that knowledge of
hope
our
neighbor
defend ourselves and defend
will
We oppose imperialism.
sion.
Let
ill, they know that we are strong; they know
our neighborhood.
no other
nation.
We ask no territorial expan¬
not good but
us
can
.
the Western
But peace in
home.
regarded as one of the most
foreign policy which he has ever delivered.
the breaking of treaties and added that "it
is an even more bitter experience for the whole company
of nations to witness not only the spirit but the letter of
international agreements violated with impunity and with¬
out regard to the simple principles of honor."
In asserting
this country's international position, he said:
Our closest neighbors are good neighbors.
If there are remoter nations
important
„
,
Application of Good Neighbor Policy Also to Neighbors Across Sea
To give
substance to this determination, a conference will meet on
Dec
1
1936, at the capital of our great southern neighbor, Argentina,
and it is, I know, the hope of all chiefs of State of the Americas that
this will result in measures which will banish wars forever from this vast
portion of the earth.
- .
Peace, like charity, begins at home; that is why we have -begun at
relations.
.
*
Americas the spirit of the good neighbor is a practical
and living fact.
The 21 American republics are not only living together
in friendship and in peace;
they are united in the determination so to
continent, he said, there
The President's address was
profit.
Throughout the
war."
pletely from
of the last
nations.
American
seek to isolate ourselves com¬
in so far as we
neighboring
request of two
final settlement
neutrality,
tion "except
American
mutually
agreements with
At the
republics, I hope to give assistance in the
serious boundary dispute between any of the
We have undertaken a series of trade
countries to our mutual commercial
satisfactory basis.
other
We have
American marines from Haiti.
which places our relations with Panama on a
signed a new treaty
Nations
embodying the prin¬
a
withdrawn
have
We
Cuba.
foreign policy
The
and
us
gave
Speech at Chautauqua—Cites
Policy in This Hemisphere as
negotiated
non-intervention. We have abandoned the Piatt amendment which
the right to intervene in the internal affairs of the Republic of
ciple of
in
War
nounces
Pan-American Convention
Pan-American convention
s
have
We
President
administrations in
sovereign rights.
In pursuance of the good neighbor policy, and because in my younger
days I had learned many lessons in the hard school of experience, I
stated that the United States was opposed definitely to armed intervention.
632*58
receipts of
The
equality and mutual
neighbor policy there was
but before we inaugurated the good
among
them resentment and fear, because certain
Washington had slighted their national pride and their
respect,
10 4^1 75
sort of mutual
have been ready always to
States on a basis of
the United
with
cooperate
304,735.55
—
American
The
frontier—to extend the same
the Americas was our aim.
republics to the south of us
throughout
trust
that
made
trust
Mutual
THE MINTS AND ASSAY OFFICES
Proclamation of Dec. 21, 1933) as amended
SILVER BY
RECEIPTS OF
1936
Aug. 22,
Chronicle
We
are
fields
in
toward
may
be, I
the
peace
not only finding outlets for the products
American
factories, but are also pointing the
making
and
policy
economic source of war and
of the world.
The trade agree¬
discouraging the
are
to the elimination of embargoes, quotas and other devices which
place
Volume
such
do
We
natural
not
peace
seems
of
maintain
not
but
war,
nations
on
the price
them
Financial
143
pressure
that
possessing great
less
a
fear that without
we
terrible
a
the
will stop
trade
war
international
President
with
vested
of
the
new
and
clear
that
which
our
to
few
a
at
to
the
It
cattle.
dust
effective mainte¬
offices of Presi¬
the
occupy
a
war
a
Today
we
been
it
It
produces disaster.
plowed,
the West
in
but
the
blink
not
if
been
should' have
harvest
devastated those
of
those
fact
seeking
evade
or
that
out
would!
we
immediate
our
work.
war-plowed
profits
that
factories
credit
and
would
pay
be
in
again
find
in
areas.
the
that
debts.
our
gold—would
to
They
attempt
of
to
would
that
of
that
face
we
greed,
such
will be clear
With
whose'
and
at
if
that
But
should
No
ia
it
positive
well
that
impossible
spite
of
necessity
to imagine
foreign policy.
Peace will
series
and
late
date,
difficult
of
small
with
can
decisions
ficiently
detailed
that
small
the
the
which
and
if
war
decisions
time, they
same
all
answer-
of
us
that the
to
answer
Secretary
our
approval,
I
is
not
we
of
people
of
found
the
in
the
meditation,
America
who
go
future event
area
the
on
itself.
shape
may
relations
involve
of
sailing will depend
safe
on
wisdom
of
those
their day-to-day
who
direct
decisions.
led
other
those
who
is
so
all
the nations
blessed.
Our
remoter
nations
strong;
they
of
event
possible to trace the tragic
into the great war in 1914
nations.
watch
decide
affairs
to
have
make
a
suf¬
certain
know
Democracy, in Freedom and in Peace
States and the other
We
sion.
seek
We
We
to
the world
wish
that
that
oppose
believe
We
offer
Let
those
in
today
neighbors
us
not
can
we
who
no
we
are
good
and
other
imperialism.
democracy;
to every nation
wish
our
doing its
Administration, is
Resettlement
■
-
'
•
Federal
agencies of the Amarillo Soil Conservation
fundamentally the natural conditions in the
porting
area
capable of
are
sup¬
permanently prosperous agricultural industry," said the report
a
"The
productive potentialities
capable of retiring the existing in¬
are
debtedness."
Secretary of Agriculture Wallace said
Aug. 19 that the
on
Government would immediately spend $10,000,000 to buy
seed grain that would be sold back to farmers in the
drought
Spring, thus combatting speculation. A Wash¬
ington dispatch of Aug. 17 to the New York "Journal of
Commerce" discussed other relief plans as follows:
next
area
Both at the Resettlement and Works
expressed
was
over
Progress Administrations,
concern
the plight of those in stricken areas with officials of
be adequate to meet
the emergency.
WPA officials also announced that
85,000 destitute farmers had been employed
expected
that
the
Another problem
will
have
be
to
number
would
work relief projects and
on
be increased
to
100,000
by
the
time
begins his tour of the drought belt.
confronting WPA is the likelihood that work projects
abandoned
winter
severe
once
weather
Direct
in.
sets
Federal grants which the Resettlement Administration alone is authorized
to
make,
have to be provided.
may
The tour of the
Drought Commission was referred to as
Washington advices of Aug. 15:
follows in Associated Press
him
concrete
drought committee, asked by the President to hand
suggestions
for
along
time
national
for
program
the
dry
regions, left by train for Amarillo, Tex.
The group will leave there Monday on a 3,000-mile inspection of drought
devastation in Texas,
Oklahoma, Colorado,
Wyoming and the Dakotas.
when
Roosevelt
he and
Kansas, Nebraska, Montana,
Officials planned to present
report to Mr.
a
Secretary of Agriculture Wallace arrive in South
We quote from a Washington dispatch of Aug. 19 to the
"Times" regarding further drought-aid plans:
Secretary Morgenthau,
financial
are
good
but
will
ill,
in
many
ways
neighbors.
they
defend
know
most singu¬
If
there
that
ourselves
conferees
problems
as
we
and
are
are
nation.
We
we
We
ask
desire reduction
believe in
freedom;
no
in
we
territorial
defend
world
expan¬
armaments.
believe
in
peace.
of the world the handclasp of the good
neighbor.
us in the eye and take our hand.
friendship look
present
were
raised
by
the
Persons.
drought
and
the
general
employment
affected by this unexpected development which has been figured
jeopardizing the living of 500,000 families,
or
2,000,000
•
,
The President also
discussed plans for the trip to the "dust bowl"
which he will start next week,
leaving Washington
Hopkins will accompany him
described the
on
on
on
Tuesday evening.
that journey.
new program
after he and the other conferees,
the exception of Secretary Morgenthau, who has a home near here,
with
had
were
to discuss ways of meeting the new
individuals.
Mr.
Hopkins,
Bell, Acting Director of the Budget;
of the Employment Service of the Department
of Labor, and Walter Burr, assistant to Mr.
The other
Mr.
Daniel W.
W. Frank Persons, Director
Mr. Hopkins
dominate
the
"Based upon ample scientific and practical observations it is recognized
in Washington as
neighborhood.
our
represent,
Those Who attended the conference, in addition to
and
international
each
closest
that
I
agency
situation
Of
want to fortify it to with¬
Dakota late this month.
after the
easy
it
Europe
many
of
which
find
we
day do not lead toward war and if, at
the courage to say "no" to those who selfishly
go to war.
Cites Nation's Belief in
larly
we
The experts were composed of two groups, one representing five Western
State,
thought
United States
be
to
need
of
have
possess
us
depopulate the country;
,
understanding
unwisely would let
or
breakfast
asserted that
Tugwell
"Federal agencies are working to prevent depopulation, and the partic¬
ular
President Roosevelt
international
wisdom
event,
us
keep out of
unswerv¬
will
of
of keeping the
the
that
and
depend
the
the
eventually engulfed
We
In
experience
before
Nation
country
State;
every
forthought,
our
this
"We don't want to
To resist
by neutrality legislation, we
provided to cover every contingency,
how
area.
the
so
G.
stand drought," added the Under-Secretary of Agriculture.
The Great Plains
knowledge and
At
prosperity.
duty
is
wide
of
be
can
the
and
of
many
supported
are
possible
every
the
who
America
support
we
vast uncharted
a
Rexford
Dr.
peace.
laws
no
which
at
the former expressing doubt that the $85,000,000 rehabilitation fund would
the
problem
of
for
penalties, the
unanimous.
such
Department
hard
would require the
in this
man
the
on
wisdom
seeking
how
matter
remember
hard
be
once
-
is
purposes
with
met
the
the
in
us
warring
homes and
America
inevitable
false
a
peace,
It
that
would
peace.
or
experienced
the
credit to
to build
you
the
come,
public opinion
has
in
profits
peace."
practical
and
all
or
;and
prayer
along with
In
all
for
wise
House
of
body of
long and
peace.
must
it
from
comes
war
choose
statesmanship
White
for
choice
a
and
worked
the
the
answer—"we
encourage
tell
clamor;
ing support of all Americans who love
If
States
world.
resist
conference
"all this talk about depopulation of the Great Plains is foolish."
let
thousands
country
they could extend
the United
in
trade of the
the
hard
if
used
day of reckoning that
clamor
communities will need direct
as a
Division.
continent,
another
this
riches—fools'
I fear, to look beyond—to realize
inevitable
trip.
than 2,000,000
by the Regional Conservation Service.
that
you
would be
capture
would
Americans,
more
The Commission received the views of reserach groups after a
round-table
utmost to prevent it."
neutrality.
They would tell
nations
must
Aug. 17 that
on
result of further crop damage
throughout the Middle West and Northwest States. The
Resettlement Administration said that about 500,000 family
heads dependent on farming operations for a livelihood would
be unable to support themselves this winter.
*
The President's Drought Commission this week continued
its study of crop damage.
Research experts on Aug. 17 told
the members of the Commission that drought can be con¬
quered. Associated Press advices of Aug. 17 from Amarillo,
Tex., noted this conference as follows:
for
left
war
They would tell you—and, unfortunately, their views would get wide
publicity—that if they could produce and ship this and that and the other
article to belligerent nations, the
unemployed of America would all find
the
estimated
Federal relief before winter
profits that caused the extension of monopoly
war
should break
war
the
who,
break down
It
of his decision to curtail the
cause
was
persons on farms and in rural
the
was
plow up prairie
industry and a price level so high
relationship between debtor and creditor was destroyed.
Nevertheless,
the
give immense fortunes
may
farmers
reaping
are
which have
storms
the prospect of
Americans
more
It
war
Industrial
citizens.
American
market
our
passed by
reduce
measures
other continent,
some
whole
a
Profits
the
to
war
as
have
never
on
accrue
for
War
and
unjustified expansion of
normal
us
Reduce
profits that made
should
was
and
.neutrality.
our
in the past, on the wisdom
as
moment
policy
otherwise
production
war
that
grazing
the
present
for the Nation
men;
prospect of
in
would
agricultural
land
is
thus
international relations,
our
long experience—the
a
-
Constitution
our
to maintain
which
speak from
whoever
Congress would, in the event of
and
conduct
under
authority to
Secretary of State.
is
profits
who
neutrality depends today,
of
Measures
It
the
was
V
^
American
determination
dent
States,
with
weapons
Nevertheless—and I
of
United
primary authority to
been given
nance
a
sequence.
The
and
is
1161
abandon his projected cruise down the Mississippi
It was reported that the unsettled foreign situation
River.
war.
trade
The Congress of the United States has
given me certain
provide safeguards of American neutrality in case of war.
has
would
to
that
resources
price of
international
liberal
more
natural
than
liberal
more
Chronicle
the railroad station
to
gone
at
Poughkeepsie to
catch
a
train
for
Washington.
"How long will
"As
long
should be
the WPA job
program
continue?" he
the weather permits," he replied.
as
an
thfe
open one,
program
will
go
right
was
asked.
"If the coming winter
on
through the winter.
If it is severe, something else will have to be done."
President
Roosevelt
Increases
Subsistence
Jobs
in
Drought Area to Maximum of 150,000—500,000
Families Expected to Need Federal Aid This Winter
as
Result of Crop Failures—President to Leave
Washington Aug. 25 for Trip to "Dust Bowl"
President Roosevelt
on
of 120,000 or a maximum of 150,000.
The job program, at
figure, would cost $7,500,000 monthly, on the
basis of estimates by
Harry L. Hopkins, Works Progress
Administrator, who said on Aug. 19 that this expenditure
would probably require a supplemental appropriation
by
Congress in January. Later press accounts from Washington
(Aug. 20) to the New York "Times" reported Administrator
Hopkins as estimating that the drought will cost agencies
of the Federal Government about $100,000,000 in relief
expenditures above needs foreseen by Congress when it voted
$1,425,000,000 for relief during the current fiscal year.
President Roosevelt plans to leave
for
a
trip to the "dust bowl."
ington by Sept. 5.
return
the
on
Washington on Aug. 25
He plans to return to Wash¬
Originally the President had intended
Sept. 11, but it^was announced
trip would be shortened
a
on
but then added:
"Of course the
Aug. 19 approved an increase in
the number of Works Progress Administration subsistence
jobs in the Western drought area from 90,000 to a minimum
the maximum
Drought Cost to Be Adjusted
When he was asked about available funds for the broadened relief task,
the Relief Administrator first said that there was plenty of money on hand,
to
Aug. 18 that
week and that Mr. Roosevelt
drought cost will have to be adjusted by
tions."
!
done parallel with
ment
new
appropria¬
■
Hopkins said he was unable to describe in detail the work being
Mr.
the WPA efforts in the drought region by the Resettle¬
Administration,
but he said that the two organizations
each other full cooperation in the field.
to preserve
are
giving
The latter has been making loans
livestock, buy feed and seed and protect drought sufferers from
foreclosures on loans, but recent dispatches from
Washington have indicated
that the RA may be forced to carry the brunt of the relief load if severe
weather forces the WPA to close down its operations in the coming winter.
The RA's relief grants were reported as running now at the rate of about
$75,000, exclusive of large sums going out in the form of rehabilitation
loans.
This organization
was
said to be caring for about 32,000 cases and
preparing to carry an additional 125,000.
counted
as
persons
in one
Since individual families
are
Cases, this would indicate preparation to care for about 500,000
way or another, with the WPA
preparing to handle about
the same load as long as work in the open can be done.
An announcement by the Department of
Agriculture on
Aug. 18 stated that the list of emergency drought counties
approached the thousand mark that day when 15 counties
in three States—Arkansas, Missouri, and Nebraska—were
added to the official drought territory by the Department
of Agriculture Drought Committee. The advices added:
/
-!y,
■Jif?
Financial
1162
The emergency list now
the
tified today.
total 23 counties in Ar¬
Nebraska. All but 7 counties in Missouri
and 8 counties in Nebraska are now within the official drought territory.
In only three States, North Dakota, South Dakota and Oklahoma, have
With the
certified as emergency drought areas.
all counties within the State been
The 15 counties named today are as
Arkansas:
follows:
Stoddard.
In
ties
and
i
being
carloads, or
relief
purchased by the Government in the
from wheat
use
byproduct from the milling
The mill feed is a
of mill feed for livestock.
of flour for
pounds, are foodstuffs
15,040,000 pounds, consist
1,171 carloads, or 54,645,000
consumption, and 376
for human
Pacific Northwest States.
}
.
food and feed shipments have been
Iowa, Kansas, Kentucky, Minne¬
sota, Missouri, Montana, Nebraska, North Carolina, North Dakota, Ok¬
lahoma, South Carolina, South Dakota, Tennessee, Texas, Virginia, and
Wyoming. Shipments to three additional States now in the official territory
—Illinois, West Virginia, and Wisconsin—have not been increased because
Of drought, as emergency drought areas in these States were first designated
States to which these
The 19 drought
made
Arkansas, Colorado, Georgia,
are
only within the past 10 days.
shipped to the different States
families eligible for relief and the sup¬
already on hand within the States.
The following kinds and quantities of products have been made available
to the States as a group: Flour, 32,9C5,8(T pounds; dry skim milk, 440,550
pounds: dried peas, 1,320,000 pounds; prunes, 1,320,000 pounds; dried
beans, 620,009 pounds; canned beef, 4,200,000 pounds; fresh peas, 2,360,000
pounds; fresh pears, 7,757,500 pounds; dried prunes, 9 0,000 pounds; fresh
vegetables, 432,000 pounds; dried peaches, 2,390,000 pounds; mill feed,
quantities of comodities
The kinds and
largest advantage,
overshadowing even
ability to shift men within the bureaus to
whatever problem is most pressing at the time.
on
Utility
Companies
Court
States
depend largely upon the number of
plies of particular commodities
15,040,000 pounds.
Motion
Tenn.,
Valley
filed
area
motion
a
on
Conference
Landon to Drought
1—Conferences with Other
Sept.
on
Gov.
Invites
Governors
Constitution
the
of
violation
the
of
United
President Roosevelt's plans to
invite Governor Landon of
Kansas, Republican Presidential candidate, to a conference
on tlie drought situation were further developed this week
when lie addressed an invitation to Governor Landon asking
Moines, Sept. 1; for the conference.
that he meet him at Des
proposed conference with Governors of
Western States
was
referred to in our issue
President's
The
Middle
the
of
Aug. 8, page 848, and in a later reference (Aug. 15, page
1005) to the President's trip to the drought areas the latter
the readiness of Mr. Landon
President Roosevelt in his
part of this month, we noted
to
participate
invitation
As
said:
Governor Landon
to
utility companies operating in Tennessee.
As to the TVA
proceedings, Associated Press accounts from Knoxville on
Aug. 14 said:
The motion said
civil suit against the Authority can be brought only
a
quoted from the Act creating the
in the northern district of Alabama and
TVA which says:
"The corporation
its principal office in the immediate
The corporation shall be held to be an
shall maintain
I am coming West next week to get at first
infirmation I can with respect to the situation in the drought
hand all the
plan to arrive in Dee .Moines early morning,
We
could find
there for a general discussion of the situation.
also inviting Governors
Herring, Cochran, Park
I am asking Governor Herring, as our
host,
and
would
I
detailed plans for
if
much
appreciate
you
Tuesday, SepL 1,
it convenient to meet us
To this conference I am
Federal
Alabama within
TVA.
quote:
we
to 11 other
From Associ¬
(Aug. 21),
Hyde Park, yesterday
from
27.
officials
will
A
Acting
leave
next
midnight
about
Washington
Tuesday
similar
Montana and
On
Aug.
and
Dakota
in the suit have been
1
of
>
Miller of
meet
Moines
Governor
Davey
the
on
a
Governor
there he
McNutt
of Ohio,
will
of
with Governor Berry of South
Pierre, S. D.
He will visit
at Rochester, Minn.,
meet
Wyoming at
he will
Wis.,
afternoon
of
go
new
bridge
Horner
of
of
hold
a
similar
conference with
Aug. 31.
the Court
of
Six
and on Sept. 3 the
The same day he
Springfield.
at Hannibal,
Illinois
at
Mo.
Governor
Chandler
of
Treasury
Agencies
Governor
sought at the next session
Washington, Aug. 18, which indicated that under the plan
the Coast Guard,
Secret Service, Customs Bureau, Nar¬
Unit and the Internal Revenue
Intelligence Service would be put under a unified command.
The total personnel is about 11,000, said the advices from
which we quote, which also said, in part:.
petition of the
passed on by the U. S. Supreme Court.
Aug. 19 by the utility companies
on
asked to grant a preliminary
was
injunction
on
the
The motion stated:
(the TVA) have not only continued, but greatly increased
"Defendants
obvious purpose
carrying into execution their power program, with the
and intent of advancing the
possible before this
or
cause can
power
program
as
far
as
be heard on the ma-its and before the validity
invalidity of the acts of defendants can be adjudicated, all with the
necessary
result of inflicting great and irreparable damage upon the com¬
plainants."
(1)
pointed out in the motion that:
The TVA is proceeding with the construction of a complete network
transmission
except
and
distribution
lines
and business" of the operating utilities;
(2)
"have
no
economic
use
or
and
That the TVA is appropriating the customers and markets of these
utilities
basis
which
to distribute power in direct competition with the property
and
interfering with their present business relationships, on the
of unfair,
confiscatory rates made possible only by subsidies from
'
It is also stated:
The motion
declares
the defendants have
an
that
partially completed
1,300 miles.
transmission
the
lines
already completed by
approximate length of 2,100 miles.
or
TVA
now
In addition,
planned have an approximate length of
The territory thus served, or intended to be served,
has,
or
is soliciting,
has a
Moreover, the
contracts to serve 22 cities
in' Tennessee,
11 cities in Mississippi, 7 cities in Alabama, and 1 in Georgia.
The motion concludes:
By these processes, and
as
complainants' contracts with existing customers
expire and non-competitive and subsidized rates become established through¬
territory within the reach of defendants' power, complainants are
immediately and inevitably faced not only with the lose of business in the
territory
so
occupied, but with the complete and rapid destruction of their
entire businesses.
The motion was filed by counsel for the companies, includ¬
ing Newton D. Baker and Raymond T. Jackson of Cleve¬
land, Ohio; Charles M. Seymour of Knoxville, Tenn.; Charles
C. Trabue of Nashville, Tenn.
Single
Planned
Congress, it was reported in United Press advices from
cotics Bureau, Alcohol Tax
•
into
six Treasury agencies into a single Fed¬
eral law enforcement unit will be
here and
the TVA
Sept. 4 with
Kentucky;
Federal Law Enforcement Unit Reported
Consolidation of
that
ground that the utility companies were "faced with the
complete and rapid destruction of their entire businesses."
out the
to Indianapolis for a conference on
Indiana;
They asked
total population of approximately 2,400,000 inhabitants.
and Governor Fitzgerald of Michigan.
Consolidation
of
Holt
meeting will be held the next day,
dedicate
with
Bismarck with Governor
then confer with State and Federal officials.
Proceeding to La Crosse,
From
at
Minnesota, who is ill in a hospital
Governor LaFollette
will
of
other State
•
will
President
the
29
Governor
President will
held
will be
aids.
Aug. 31, and
The Des
and
29.
.
In the motion filed
the lines
meeting
his
Governor Olson
oh
Dakota
North
of
Welford
Governor
attend.
will
Birmingham May
Federal and State taxpayers.
[Aug. 25] and return to Hyde Park on Saturday morning, Sept. 5.
The first conference will be held at Bismarck, N. D., on the night
Aug.
at
be declared unconstitional and that the Authority be enjoined
asking that the suit there be dismissed on grounds that all questions raised
of
'
President
The
went
other points.
conferences at
for
Press advices
ated
invitations
similar
that
stated
Is
Court
Attorneys for the Authority have filed a motion in Birmingham
value
It
the venue of
to
The Knoxville suit was transferred to Federal Court on
It is
ROOSEVELT.
States relating
from further operation.
and Marland.
D.
United
Identical suits against the TVA were filed in Chancery Court
and its power
to advise you as to the
the conference.
FRANKLIN
Governors
of the laws of the
meaning
civil suits."
their activities in
probably know,
you
area.
Governor.
as
On
States.
Aug. 14, in the United States District Court at Knoxville
attorneys for the TVA filed a motion seeking dismissal, on
the ground of lack of jurisdiction, of the suit of the 19
in
*
Tennessee
Aug. 19 in the District Court
of the United States in Knoxville, Tenn., for a preliminary
injunction to restrain the Tennessee Valley Authority from
further activities, pending the determination of the suit
brought by these companies on May 29, 1936, challenging
the constitutionality of the TVA Act.
In our issue of Aug. 15, page 1008, we reported action
taken by the utility companies to halt the TVA program,
the utilities having on Aug. 11 in the Knoxville Court sought
the right to , ask a temporary injunction against the TVA
charging that its power program was being operated in
the
Roosevelt
Restrain
Companies Filed by TVA
inhabitant and resident of the northern judicial district of
President
United
in
to
operating utility companies in the
Nineteen
vicinity of Muscle Shoals, Ala.
.
File
Knoxville,
at
TVA From Further Activities—Motion for Dismissal
were
modities Corporation.
Of the shipments,
the
the
the
be in
of Action of Power
obtained from growers and
y the Commodities Purchase Section of the AAA.
Distribu¬
made to State relief agencies by the Federal Surplus Com¬
the commodities
instances,
distributors
tion is
said
officials
would
Nineteen
.'•■■■ '
most
"Twenty
said.
Morgenthau
inspectors with marvelous results."
it was learned', will call for a chief of all department activi¬
deputy chiefs for each of the various subgroups.
concentrate
Committee an¬
ordered shipped
1,547 carloads of food and feed for relief distribution in 19
drought-stricken States since early June.
It was further
The Department of Agriculture Drought
nounced Aug. 18 that the AAA has shipped or
stated:
desirous," Mr.
is
plan,
economy,
Richardson.
Nebraska: Cheyenne, Loup,
consolidation
a
Treasury
Cape Girardeau, Scott,
such a con¬
favors
Morgenthau Jr.
Henry
the grounds of economy and increased efficiency.
the Post Office Department merged numerous agencies into
ago
The
Yell.
Missouri: Butler,
Treasury
the
of
on
think
"I
years
experts
post office
Johnson, Pope, Scott, Sharp, Van Buren,
Izard,
Cleburne,
solidation
blocked.
Treasury
objections.
was
the program to meet
of
Secretary
designation, the drought areas
new
kansas, 107 in Missouri, and 85 in
and
session
last
revision
during the closing days of
have been studying
proposal was offered in Congress
similar
A
Missouri, and 3 in Nebraska were cer¬
Aug. 22, 1936
Chronicle
includes 992 counties in 22 States.
Eight counties in Arkansas, 4 in
»
Suit to Test
Act
of
Constitutionality of Commodity Exchange
1936
Filed
in
United States
District
Court
in
Chicago—Action Seeks to Restrain Chicago
Mercantile Exchange from Complying with Law
On
Aug. 15
an
action
was
filed in the United States Dis¬
trict Court in
Chicago seeking to enjoin the Chicago Mer¬
cantile Exchange from complying with the Commodity Ex¬
change Act of 1936 and to enjoin enforcement of the Act
by the Commodities
Exchange Commission.
The suit wras
Volume
brought
month, was given in our
the
from
the
asked
for
will
30
mentioned! in the suit were Henry A.
Wallace, Secretary of Agriculture, and Leslie A. Fitz, Supervisor in Charge
of Administration of the Commodity Exchange Act at Chicago.
ft
Among
Federal
the
is
the
exclusive
the
exchanges;
commodity
Constitution;
right
that
discriminates
it
that
of
favor
in
duties
The
which
commercial
Duties
the
Com¬
issuance of regulations under
Commodity Exchange Act were concluded on Aug. 14,
with a final hearing of the views of the New York Cotton
Exchange.- The hearings were referred to in our Aug. 15
issue, page 1008.
At the concluding hearing Charles F.
Morgan, of Jenks, Gwynne & Co., was quoted as saying as
to the Act: "It is a law and will have to be lived up to,"
and that the Commission has a difficult problem in its
to the
preparatory
the
also
of Aug.
"Times"
the New York
From
administration.
how the
Act
interpreted,"
is
Morgan continued,
Mr.
the methods
in
disturbance
will
The
"it is
ment's
civil
surely create serious
broker
and
customer,
Phelan
Beale,
'
accruals.
the hope that all
citizens would observe this policy of neutrality.
present
between two
situation in Spain, since it affects only war
or more nations,
but added that this govern¬
would
ment
"scrupulously
refrain from any interference
Spanish situation."
whatsoever in the unfortunate
and margin moneys and actual
segregated accounts,
Spanish
neutrality in the present
strict
The announcement expressed
pointed out that the Neutrality Law does not apply to
It
attorney
Madrid and to
Spain reaffirming this govern¬
Consulates in
of
11 made public a state¬
Aug.
on
States Embassy in
the United
policy
war.
American
the.
by
Department
to
sent
American
all
trade, and I sincerely hope that the Commission
our problems before adopting regulations under
statement
State
ment
for the New- York
Cotton Exchange, was read, giving legal interpretations of some of the
aspects of the Act.
His statement included contractual relations between
prepared
Policy of Neutrality in Spanish
Diplomats and Consuls
Spain—Government Also Warns That American
Property Must Be Respected
Act."
A
Germaney.
in
15
carefully consider
very
the
followed by the Exchange would
the entire
to
and
Civil War—Note Is Sent to
hardship
some
gloves,
thumb tacks, toys,
States
United States Asserts
somewhere, but we hope that it will be
possible so to interpret the measure that it will not unnecessarily interfere
with the functions of our Cotton Exchange.
Any radical departure at this
work
order from the following articles:
rayon
paper,
United
the
and
cotton
metal-covered
between
tions
quote:
"No matter
time
Articles Affected
removed in today's
tableware,
ornaments,
Cotton Exchange
conducted by the Commodity Exchange
The hearings
mission
to
the two countries.
leather gloves, glass tree
dolls and toy figures.
The countervailing duties ranged from 22
to 56%.
The note was delivered [Aug. 13] to the State Department by Ambassa¬
dor Hans
Luther, and; transmitted to the Treasury.
It was not made
public.
It contained the information that Germany had lifted subsidies
from exports to the United States, a move made following a conference of
German representatives
with the State and Treasury Departments.
This
series of conferences was designed to restore more satisfactory trade rela¬
Concludes Hearing
Presented at Final Hearing
going
widespread
caused
had
•
ended a trade dispute with
apprehension over the future of
duties
countervailing
relations between
were
China
we
products.
these
on
and salf and kid were
notice that it was not
given
had
Germany
Many
in New York—Views of New York
York
New
the
to
instruments
surgical
after
4
exchanges.
Commodity Exchange Commission
the printed Treasury
Treasury devisions of
in
4
Aug.
of
dispatch
cameras,
of
removal
Germany
cotton
on
Aug.
on
subsidies
paying
it violates the
and
decision
the
of
expected to appear in the issue of
is
\
The
due process of law clause of
delegates legislative powers to the Commodity
it
publication
the
It
Washington
removed
regulation of
the States to provide for
of
after
duties
"Times" added:
purely intrastate
that
Commission,
Exchange
A
that the Act seeks to regulate commerce
in character; that it inter¬
are
but
interstate
not
with
feres
officials
charges made
Among the
which
become
days
require.
final hearing.
a
2,
instruments,
Thursday, June 11, and will be supplemented from time to time to change
rates or to add new commodities to the list as further information may
dozen respects,
and a perma¬
immediately
injunction
temporary
a
injunction after
1936, or, in the cases of cameras, calf and kid leather,
after July 25, 1936.
imposed by Section 303 of the Tariff Act of 1930
effective as to these commodities following the expiration of
Aug.
surgical
The additional
Chicago "Daily News" of Aug. 15:
Moore
nent
and
decisions.
Charging that the Act violates the Constitution in about a
Mr.
into after
the
effective
issue of June 27, page 4245. As
action, we quote the following
The text of the Act, which is to become
to the charges set out in
1163
Chronicle
Moore, a member of
behalf of William S.
on
Exchange.
next
Financial
143
On
.
,
20
Aug.
in reaffirming her neu¬
United States,
the
trality, indicated in a note addressed by William Phillips,
New
Under
Regulations
the
and
Cotton
Act
Futures
made
Announcement was
United
18 by
Aug.
on
of State, to Jose Richling, Minister of
inability to accept the suggestion of the
Uruguayan Government that the United States participate
"in any offer of mediation in the Spanish conflict."
The State Department revealed on Aug. 6 that it had sent
a note to the Spanish
Government warning that American
Uruguay,
Act
Bureau of
tlie
the proposed issuance of new
regulations under the Cotton Futures Act and the Cotton
Standards Act, effective Aug. 20, 1936.
The Bureau's an¬
Agricultural
Economics of
said:
nouncement
The
property in that country must not be destroyed, and that
government will expect indemnification for any such
regulations set forth, among other things, the conditions controlling
and certification of cotton according to the new grade
which
the
grades
into effect
go
which
cotton
of
Section' 5 of the
under
of tenderabilitv
One
Board
in
could
boards in
years
regulations specify
new
and
those
be
field
conditions
with
review, and these could be made by local
one
by the Appeal Board in Washington.
or
of
the
prior
to
regulations
new
entertained
be
more
or
of
international
with
the
respect
that
is
to
for review
request
certificated
unless
samples
new
a
twc
the
States
Removes
from
Abandonment
Countervailing
Germany—Action
Subsidies
of
Duties
Follows
Articles
on
The
the United
to
many
an
States.
on
This marked another step in
Germany that was
end the trade dispute with
effort to
"Chronicle" of Aug. 15, page 1000.
The
Treasury was taken after receipt of official
notification by the German Government, through Ambassa¬
dor Luther, that all subsidies on products exported to the
referred to in the
by
step
the
United
States
had
been
abrogated.
been imposed on July
duties had
The
11 by
countervailing
Treasury order
a
issued June 4, as a result of subsidies paid by the German
Government
the order.
to manufacturers of certain products listed
Germany announced that
subsidies
no
in
collectors
of
customs
official advice
receipt of
merchandise which will be
Germany
pursuant
to
Government
German
procedure
was
or
has
or
free
gold exchange marks
view
to the
effect
that,
or
has
taken
entered
measures
no
that the
or
with
been exported
use
into
to
or
no
free inland marks
department
respect to
directly
after
insure
public
of
The
or
Aug.
that
no
was or
1936,
scrip
currency
satisfied
therein
if
the
by documentary evidence
agreement pursuant to which they
Collector
of
or
or
the
bond
subsidy
other than
will be permitted.
Customs
that the contract
were
of
concerned
purchase
exported from Germany
be
may
which
it
is
interfered- with
under
entitled-
look to the Government of Spain
and for indemnification for any
course,
such
property
requisition
for
necessities
the
of
war
or
otherwise
of
for
realize
I
It
all
that
American
diplomatic
consular
and
in
Spain,
by them,
of
officers
have
it may be well for
government's
this
our
fully
appreciated
the
completely impartial attitude with regard to
and that such an attitude has at alT times
maintaining a
what
of
tinue
to
Spain read as follows:
maintained
been
position
them to have
thus far
has
summing
a
been and
will
con¬
be.
to
that
clear
is
ammunition. and
situation
nations.
On
Neutrality Law with respect to embargo
applies only
the other hand,
non-interference
of
peace
in the
with
war
has
no
application
in the event of
war
in
of arms,
the
present
between and among
in conformity with its well-established policy
internal
affairs
in
other
countries either
in
event of civil strife, this government will, of
refrain
scrupulously
of
implements
of
or
our
that
since
from
any
interference whatsoever
time
course,
in the unfortunate
We believe that American citizens both at home and
patriotically observing this well-recognized American policy.
Spanish situation.
abroad
are
This note was
signed by William Phillips, Acting Secre¬
tary of State.
+
at
shall
or
was
other
Administration
G. Draper Says Critics
Exaggerated
Excess of
Foreign Short-term Funds in This Country
The
net
Have
creditor
position of the United States at the
$7,250,000,000, Ernest G. Draper, Acting
Secretary of Commerce, said in a statement issued on
Aug. 13.
Mr. Draper said, that his analysis was designed to
correct statements "recently made which greatly underesti¬
mate the creditor position of the United States."
George
end
of
Peek
N.
trade
be
entered
$7,250,000,000—Ernest
of
^
the foregoing,
listed
of
disturbances
the
in
by Treasury decision
commodities
in
While
dutiable
any
private bounty
German
is
indirectly from
2,
to
United States Net Creditor Position in 1935 Estimated
the provisions of Treasury decision 48360, as
48444 and modified by Treasury decision
shall not apply to direct or" indirect imports from Germany of the
amended
48463,
of
concerned-:
will be allowed,
was
In
others
agreements
be paid, and
will
and
control,
no
articles
on
exported to the United States would be paid after Aug. 2.
The official Treasury decision read as follows:
To
have
protection
of
must,
of
,
instructions
necessity for
up
Aug. 14 issued a formal
order removing countervailing duties on imports from Ger¬
Department
Treasury
the
prompt and full compensation to its owners.
on
Reich's
Shipped
This Country
to
they
are
Tlie
Imports
which
that private property, whether in the
by them temporarily because
abandoned
in this respect.
event
officers
United
summarized the
property this government must insist that provision be made
American
drawn.
k
Department
law.
protection
delinquency
In
application- for
no
cotton
any
or
government
the
for
or
denied
over
impunity
This
nationals
American
of
admit
cannot
government
hands
the line
quality is concerned remains unchanged.
as
than
more
effect
can
This
untenderable
In general, however,
State
The
note as follows:
one
the
Another
revietv
far
tenderable
be
Futures Act.
review only.
This review will be made by the Appeal
Washington.
"This differs from the old procedure under which
privilege to
there
so
These
Aug. 20.
on
will
Cotton
seized-
property
of importance under the new regulations limits the review
change
her
this
classification
the
standards
Secretary
Acting
Cotton
States
Standards
of
and
was
other
critics
of
the
Administration's
foreign
policies have recently said that the creditor position
this
Mr.
1935
country has suffered
as
a
result
of the program.
Draper declared that the "misrepresentation"
has
re-
Financial
1164
unofficial estimates of tne total
"inclusion in
suited from
the United States of a large uniden¬
tified and unexplained sum."
He also said that the excess
of foreign short-term funds in the United States over similar
American funds abroad has been
"grossly exaggerated."
Reported Favored by President Roosevelt After
Election—Proposals of National Grange Presented
to President by Louis J. Taber
the
States
United
Bureau of
the
is
inclusion,
United
the
One form of misrepresentation
estimates of the total foreign investments
large unidentified) and unexplained sum.
In
unofficial
in
of
States,
a
funds in the United States over
grossly exaggerated in spite of
the excess of foreign short-term
similar American funds abroad has been
addition,
the
these items on an annual basis are
*
Division of the Bureau of Foreign and Domestic Commerce
available.
•
The Finance
has
completed
recently
United
the
data pertaining to
that actual
fact
abroad, and foreign invest¬
of these items
American investments
to
States.
United
the
in
the
in
relate
items
These
ments
the United States, I
position of
in
items
which greatly underestimate the
wish to call attention to certain
report on the balance of international payments of the
in 1935, which was officially released .several days ago by
Foreign and Domestic Commerce, Department of Commerce.
recently made
statements
of
view
In
comprehensive study'of foreign investments in
which include carefully checked estimates
a
results,
The
States.
which no complete data were available, showed that
total long-term investments of foreigners in the United States at the end
of 1935
aggregated: slightly more than $5,000,000,000.
Total long-term
investments
of
Americans in foreign
countries aggregate approximately
for
items
covering
$12,600,000,000, exclusive of war debts.
Foreign-owned bank balances and
funds in this country owed to foreigners as reported by
other short-term
1935
the
at
of
end
approximately $7,600,000,000, and a net debtor on short-term account
by about $350,000,000.
The creditor-debtor position of the United States
at the end of 1935, as estimated by the Department of Commerce, may be
by
Direct investments abroad
•
and
balances
bank
American-owned
$4,800,000,000
7,800,000,000
securities (largely bonds)
other
credits
short-term
850,000,000
reported by banks and brokers
as
maximum relief possible
said:
Mr. Taber further
Grange's suggestion
the
outlined
would be
methods of seed
It would give the farmer a more
that crop insurance
the consumer than present
agriculture and
for
relief and similar methods.
his difficulties and guarantee
loans, work
business-like solution to
the consumer an
prepared to produce in following years.
agriculture that was
Extraction Figures to Be Used
Farmers Participating in
AAA Announces Sugar
Beet
Payments to
Conservation Program
inN
Administration announced
Agricultural Adjustment
The
extraction figures, by States, which
in determining the payments which sugar beet
receive who participate in the 1936 agricultural
17 the sugar
Aug.
on
will be used
farmers will
conservation
follows:
briefly summarized as
American holdings of foreign
problem with a view to giving the
in distress.
to farmers
better
branches of the Government are
they indicated that all
Meanwhile,
studying the
We
rural
problems of crop insurance sand
the
to
Mr. Taber added:
credit."
banks
was,
abroad
approach
$1,200,-
approximately
1935 to
good idea to call a conference pf farm organizations and
others interested after election to consider an intelligent
corresponding short-term banking assets held abroad by
aggregated $850,000,000.
The United States at the end
therefore, a net creditor on long-term investment account
while
000,000,
American
of
amounted
banks
American
porposal for crop insurance was presented to President
Hyde Park, N. Y., on Aug. 20 by Louis J.
Taber, Master of the National Grange, and Fred Freestone,
Chairman of the Executive Committee of the Grange.
The proposal was advanced as substitute for the present
drought relief measures.
According to Mr. Taber, the
President and Secretary Wallaces suggested "it might be a
A
Roosevelt at
Draper's statement follows:
creditor
Insurance
Organizations on Crop
Conference of Farm
foreign investments in
Mr.
1936
22,
Aug.
Chronicle
AAA
the
announcement
its
In
program.
pointed out that the acreage of soil-conserving crops neces¬
sary in order to secure full payment in connection with
reduced recently to 25% of the sugar
beets was
sugar
beet
This requirement originally was 40%, but the 25%
requirement was established when it was found to be more
equitable.
From the announcement we also quote:
The extraction
figure represents the average number of pounds of
sugar, raw value, commercially recoverable per ton of sugar beets.
This
figure, multiplied by the normal yield of sugar beets for the farm, equals
the number of pounds of sugar, raw value, commercially recoverable per
acre of sugar beets.
The payments are to be at the rate of 12%c. per 100
acreage.
Total
$13,450,000,000
-
American securities and
the United States
Foreign-owned bank balances and other shortterm funds owed to foreigners as reported by
of
holdings
Foreign
•
$5,000,000,000
other foreign investments in
1,200,000,000
"
banks and brokers
6,200,000,000
Total.
$7,250,000,000
Net creditor position
In
dollars
of
corresponding
credits
The
creditor
customers.
of
end
the
at
exporters
last
net
1935
materially
therefore,
was,
year
extended by American manufacturers
exceeded by several hundred million
extended by foreign concerns to American
position of the United States at the end
in
the
of
excess
shown
figures
assets and liabilties are
*computed on comparable bases.
The investments of American concerns in
plants and properties abroad which they directly control and the corre¬
these
In
corresponding
figures all
sponding interests of foreign
values.
basis
market
in this country are shown at book
are reported at par, while miscel¬
concerns
holdings
of
stocks
common
bonds
The
foreign dollar bonds
holdings of
are
rather
par
than
this
for
reasons
which
of
some
official
estimate
of
direct
and
probably
to
such
cover
of
what
It
is
American
than
more
factors.
that
of
appropriate that
creditor-debtor
payments,
dividend
Kansas
276
Utah.
the
305
In its annual bulletin
Division
of
Wyoming
character
Michigan
*
of the
be reduced some¬
Bureau
Pounds of sugar raw, value
A
of
country's
a
1936:
commercially recoverable per ton
normal
a
yield of 12
his payments
compute
299
acre
per
o£beets.
of sugar beets
tons
321
:
in Colorado
of sugar beets as follows:
Colorado rate of 297
pounds of sugar, raw value, commercially recoverable, equals 3,564 pounds.
The rate of pajment is 12 ^c.
per 100
pounds, so the total payment
would
of
tons
be
Full
and
Foreign
of
with
farmer
would
Twelve
reports the following itemized summary of the interest
items in
314
314
300
290
been
the balance of inter¬
on
the
—
Wisconsin
Nebraska
take cognizance of another test
Finance
330
...
.
have
States.
in the United
foreign assets
we
j.
sugar
times 35.64,
12^>c.
payments
to
beets.
of
acreage
As
this
sugar
crop
is
is
as
on
per
sugar
on
they have at least one-fourth
sugar
$4.45
or
farmers
many
the
by
multiplied
beets,
acre.
beet
acres
acreage
are
made provided
in soil-conserving crops as in
basis, planting of the usual
providing that payments may be
import
an
by
encouraged
sufficient to produce the national sugar quota
$188,000,000
320,000,000
13,000,000
American-owned short-term investments abroad
Total.
made
$521,000,000
on
Secretary Wallace, in Address at Cleveland Exposition,
Says Drought Will Not Bring Scarcity This YearSees
Business
Benefited by Expected Increased
Farm Income—Government to Buy and Conserve
Payments—
foreign-held American bonds
on
$22,000,000
35,000,000
63,000,000
_
Income to foreigners from direct investments in the United States..
Dividends
South Dakota
308
Income from American-owned direct investments abroad
Interest
288
324
American holdings of foreign bonds
on
Earnings
Oregon
Iowa..
Montana
Receipts—
Interest
Ohio
300
Minnesota
resulted from
position, namely, the actual flow of income from the respec¬
Domestic Commerce
and
New Mexico
299
Indiana...
that substantial,
the
of
con¬
abroad
330
Illinois..'
Washington
estimates
long-term assets abroad would
tive groups of investments.
national
because
However,
been
has
investments
however,
official
the
in
much
are
it may be true that if liquidating values could be used,
respective assets,
amount
reductions
adequate,
It
"write-downs" which
losses and
It should be noted,
Pounds*
305
324
297
297
PH*
Idaho...
default,
in
the
because of
r
State—
Pounds*
Eastern North Dakota
tended
depression.
program:
State—
Western North Dakota
market
the
bonds.
overstated
grown
297
of American
world-wide
are
342
holdings
the
For farms on
for the first time this year, the normal
yield will be the average yield for the period 1930 to 1933, inclusive, for
the sugar beet factory district to which the beets are contracted to be sold.
The following tabulation gives
the number of pounds of sugar, raw
value, commercially recoverable per ton of beets in the sugar beet States
which will be used in computing payments under the
1936 agricultural
beets
sugar
Colorado
are
American
will be the yield which
payment
the adjusted contract.
under
and second, the Amer¬
considerably below par,
foreign bonds,
established
prices
first,
are,
foreign
that
been
which
California
the
the
the
on
have
a
year's
this
computing
for
by
covered
not
was
used
market
a
larger than
made
farm
yield
farm covered by such contract.
sugar beet adjustment contract, the
the
for
contract
adjustment
conservation
a
on
overstated.
somewhat
is also
shown
are
values.
value basis, the
position of the United States is, according to one point of view,
valuing
creditor
ican
long-term
preferred stocks
(non-controlling)
of
By
of
bonds and
All
laneous
the
If
"representative" yield set out in the
the
be
will
farm
beet
sugar
determining the payment on an
former
yield which will be used in
The normal
individual
could
the table.
in
recoverable..
pounds of sugar
credits
outstanding
addition,
and
foreign-held American stocks".
on
Income to foreigners from other long-term Investments in the
States.
United
Payments
of
on
an
acreage
of beets
1,550,000 short tons,
value.
raw
.
United
foreigners
to
on
short-term investments
In
the
1,000,000
$146,000,00
Total
It
is
thus
apparent that
abroad
private investments
this
country to
country by
short-term
the
to
a
the actual receipts by the United States on its
in
funds
holdings
is
comparatively
stocks,
of
bonds
importance of these figures as
debtor
position
dividend
the
of
figures
financial
computed
the
are
1935
is
an
emphasized by
are
largely
statements
of
based
corresponding
exceeded
residents of foreign countries
ratio of approximately 3%
small,
and
to
this
other
their
on
ratio
by
payments
investments in this
Since the
1.
is
long-term
income on the
directly
applicable
investments.
TJie
index of the country's long-term creditorthe fact
on
individual
that
the
the holdings
companies.
Seed Supplies
25,000,000
States
reported
interest and
of individual
The
issues or
income figures
as
Secretary of Agriculture Wallace, speaking at the Cleve¬
land Great Lakes
Exposition on Aug. 19, declared that
drought "did not bring scarcity into the average American
home in 1934, nor will it in 1936." He said that the real
period of scarcity, was in 1932, and that in every year since
then the farmer has been more prosperous.
Cash farm in¬
this year, he continued, will be 80% above that of
1932, while industrial activity will also be far higher. Mr.
come
Wallace
home
the
and
in large part independent of the data pertaining to the value
investments, and are
not subject
to significant margins of
declared
different
their
error.
operations of
A reference to the report
on
the balance
of international
Aug. 15 issue, page 1004.
of the Department of Commerce
payments appeared in
our
this
kinds
the prices
While
that
true
abundance
for
the
average
only be achieved by creating a balance between
can
of
agricultural and industrial products
He continued, in part:
of these products."
general
character
1936 have been
is
the
6ame,
varied) greatly in
the
large-scale
drought
detail to fit differences in
recognizing and meeting
its
responsibility to see that people do not starve.
Work on Federal
projects is being provided for those made jobless by drought. Last week
year's
problem.
Again
the
Government
is
Volume
I
took
in
up
conference with
the
proper
loans
and feed
seed
Financial
143
the
planting of
to
finance
Chronicle
Rents
adequate
agencies the subject of
and the wintering
as
food, but the
problem of providing feed for livestock is serious. Once again, the Agri¬
cultural Adjustment Administration is in
the market ready to prevent
in
of
livestock.
break
any
There
in
result
as
a
in
feed1
supply,
The
Because
the
crops
new
of
shortage
a
that may
shortage.
feed
to
this
human
be threatened by
the
supply
extensive
of
year.
feed
on
Government
purchases
The
of
legumes
crops
has
1936,
this
This
relation
1934.
this
acreage
Lespedeza
where
per
acre
tion
farmers
has
and
million
is
crop
all,
at
to be
of
than
conservation
for" the
acres
farmers
income
crop
the
of
the
in
first
this
under
three years.
In large
bushel
a
harvested
have
year
this
history.
time in
two
fair
year's agricultural
hay
conserva¬
drought-stricken
in giving
Semi-annual Survey of Real Estate Rarket by National
Association
of
Real
Estate
Boards—Situation
A
real estate outlook that for
the
cities
of
the
is shown
years
of
Promising in Many Years
the real
country
by
the
estate
a
92%
is the most
promising
twenty-seventh
market, general
in
many
semi-annual
findings of
The survey,
fidential
reports niade to
boards.
had
which
252 cities,
covers
section
price
Stiffening
residential
earning
building, its
most
by
construction
in
adjusting
in
many
forms
were
is from con¬
real
the
-
in
mortgage
it
terms
has
including
is
of
to
reached
buyers'
the
the
held
communities
same
back
and
The
the
in
well
as
New
as
home
communities
some
to
cities
is
selling for higher prices than
the country, while only 1% show a
Many reports comment that "steals" are
Outstanding
central
other
sites
some
but
causes,
again
in
are
than
a
year
/
higher
real
estate
in 77%
ago
lower
of
the
than
last
longer to be found.
the
is
recovery
rents
way
for
Central
than
a
cities,
year
rates
which
ago,
cities had
in
Considerable
the
in
the
is
section
than
last
of
Association's
Between
between the
real estate
both in
general
2%
of
survey
54%
a
of
higher
for
of
six
the
various
advance,
respect
geographic
details
to
sections
and individual cities
covered
in
the
apartments
show
ments.
lower
In
Mountain
reported
in
45%
of
two
rates,
whether
geographical
sections,
100%
for, detached
sections,
the
of
Rent
advance
for
detached
in
representative
1926
houses
level.
that
the
cities
houses,
East
show
cities,
duplexes,
South
and
for
apartment
rates
for
real
important
single factor in
on
profit
Capital
of
7.
seeking
the,
still
at
in
as
of
report
the
shows
This
is
100%
true
both
single-family dwellings
at
about
88%
of-, their
58%
of
•
•
loans,
home
probably
ownership
are
of
of
over
Considerable
investment
Loans
ago.
over
are
regional
home
building
that already
is
being
the
Home sites
a
in
40%
most
of
the
in
74%
of
population,
population,
variation
as
and
capital
to
readily absorbed.
the
in
cities,
only 15%
Central
erty.
28%
of
in
more
properties
cities,
a
1%
but
cities.
of
the
year
ago,
the
show
North
East
Manitoba,'gives
States.
Details
active
of
single-
Under-supply
level.
inter¬
an
(permission
more
Market
single-family
advanced
about
loans
mortgage
by
dwellings
10%.
falling.
rates
moderately-priced
new
on
10%.
about
Interest
member
Association's
shows
both
normal
market
supply
Interest
of
rates
firsi mortgages
activity
dwellings,
permission
gives
and
price
business
and
6%
with
to
level higher
apartments
steady,
are
the
as
com¬
moderate-priced hemes.
new
on
board
Roosevelt
Has
Been
Declares
Reduced
Farm
and
Purchasing
Crisis
Has
Been
in
to
individual
of
rents
depression
higher than last
low
and the present survey
•
was
passed
found
"
rates
.
year
for
type
lower in only
•
.
sponsored by the National
the Administration had
that
V'-;
.
Responsible Administration officials, Mr. Peek said, pre¬
vented important sales of farm products to
foreign coun¬
tries.
The loss of foreign markets, he continued, has stimu¬
lated production abroad
the
purchasing
and at the
time has reduced
same
of American farmers."
Associated
Press advices of Aug. 15 from Chicago
quoted further from
Mr. Peek's speech as follows:
power
Discussing ioss of foreign markets, Mr. Peek said
officials"
"responsible
Adminis¬
nations."
had
"prevented
example," he
said,
"in
supporting
the
government
was
tunity
presented
was
England at
said
market
sell
to
competitive
Mr.
the
were
and
Rexford
this,
proposal
a
goods,
Hitting
and
sell
and
officials,
effect
of
the reciprocal
he
said,
to
trade
"seek to
certain
to
trade
months since
butter
to
price lower than the
a
agricultural items
Declaring that
because of official
cotton
100,000
deceive
export
agreement
it had
become
on
"we increased1
to
Germany,
usable
bales
of
for
pur¬
cotton
for
the
increases
farmer
by point¬
and
by
which
with
Canada,
he
said
ignoring
effective
we
our
exports
that
in
"we
increased by 57%
reduced duties (exclud¬
had
;
1
to Canada
by only 17% in
which Canada bad reduced duties."
on
"we
Americanism,"
must
Mr.
get
Peek
competitive agricultural
or
of
in marks
'
"But," he added,
full
the
oppor¬
competitive farm imports."
imports of agricultural items
back
outlined
and
to
a
fundamentals
program
industrial
of
common
including
imports
by
a
tariffs,
sense
plan
to
quotas,
otherwise, and give the American farmer and industrial worker
benefit
Urging
to
,
our
our
at
bales
ing spirits)."
the
an
surplus
had fallen through
800,000
plan
a
first five
"check
time
very
loans,
quantity of
dollars and partly
the
and
the
at
through
products
Tugwell, Under-Secretary of Agri¬
the ground that "our agricultural trade
on
to
misleading language
in
extent
farm
G.
..
Administration
the
1933,
market
by selling abroad
partly in
silk.
ing
of
of
home."
chasing German
Italian
sales
world prices."
Wallace
had "frustrated"
objections
fall
butter
substantial
a
possibly be improved
at
important
Among other deals which he said
that
of
the
domestic
market."
the
present
of
Robinson-Patman
trade
policy should be scrapped to "regain
bargaining power," Mr. Peek said "we should trade selectively both as
and exports, dealing country by country."
imports
Provisions
crimination
Trade
Legislation
or
Anti-Price
Reviewed
Commission—Comparison
of
by
Dis¬
Federal
Section
2
Amending Clayton Act and Section Before Amend¬
cities
in only
this
asserted
control production by controlling the farmer's
initiative, and that it had endeavored to regiment
charged.
is
number
broadcast
Peek
agriculture, despite contrary Supreme Court rulings.
This
country has lost foreign markets and its policies have pro¬
longed the farm crisis and increased unemployment, he
seeking real
mortgage supply is
A
radio
a
Mr.
of
than '
selling.
office
the 252
15
sought
as
year
of structure
cities register
the
and
Agriculture under the New Deal has "definitely lost
ground in its fight for equality with industry," George N.
Peek, former trade adviser to President Roosevelt, said on
ment
building
new
are
the
of
with
Mountain
the
In
year.
Prolonged
outlook
cannot keep ahead of demand.
Activity in the subdivision market is greater
ago in 65% of the cities.
Only 1% show a less active market.
9. Office space continues to
lag behind business space both in demand
and
in
rental
recovery.
For both business and office space,
outlying
sections of cities show far less space
absorption than does downtown prop¬
8.
than
for the
year's
for
year
reported.
for
Power
to
seeking capital
500,000
200,000
/
section
Winnipeg,
totals
last
first
the
A
year.
is
rate
embargoes
the
and
falling
shown.
New
and
single-family
only approximately
mortgage
costs
mortgage
city
every
cities
loans.
estate
still
is
In
all
estate
reporting,
on
last
details,
receiving payment
rising in only 1% of the cities.
64% six months
cities.
96%
are
for
now
given real estate investment,
a
surveyed,
against
the
rents
10%.
Rents
are
'
for
6.
centers
.
Interest
cities
apartments.
95%
Central sections
90%
section,
Central
South
survey
for
President
apart¬
or
Central
up-trend
frequently reported is
metropolitan
But
level.
5.
most
last
advance over
the
of
George N. Peek Says Under New Deal Agriculture Has
Lost
Ground
to
Industry—Former Adviser to
culture,
the
house rents, and one of these, the East South Central
section,
up-trend in apartment rates.
.4.
last
property
monest
cannot
the real estate outlook:
of
measures
is
city
apartments
where
survey
He
against 43% of the cities six months ago.
Only 4% show any over-supply.
3. Rents are
higher than last year for apartment space in 83% of
cities reporting, and
for single-family dwellings in 91% of the cities.
More, there is almost complete absence of any down-trend.
Only 1% of
cities
quote
"For
Under-supply of single-family dwellings is shown in 76% of the cities
reporting, as against 66% so reporting six months ago.
Only 1% 6how
any over-supply.
Under-supply" of
than
rate
foreign
Cities
1.
2.
100%
at this time, and in the
Supply of apartments and of business property, normal;
heated
Honolulu,
market activity.
gives these important
survey
over
homes, 6%.
majority of
Residential Rents Increased 10%—Interest Rates Lower
The
than last year
Central
East
Prices,
year.
Rents
tration
shown
vary
respect to
Only
trend.
the spread
same
and in
survey
The
Variations—Variations
variation
country in
represented.
property rates up in
of these surveys in which
years
a
Sectional
cities
business
10
reported such
all
of
going, .lower.
found
the first
was
62%
in
ago
these
report
months
even
of
year
price level
no
properties are stepping up, a trend of importance for the
gives of how far business in general is preparing for coming
business property, the survey finds, is
leading for rates
it
activity.
of
a
business
indication
cities
feature
n^w
South
the
with
family dwellings.
Grange.
where
of
year.
market
sections
quote which has been given) include the following:
Aug.
by
Higher Selling Prices Are Very General
estate
of
89% of cities show upping of price level.
esting comparison
and
The real estate market in
general is more active
in 92% of the cities of the country, the survey finds.
Real
West
In
Canadian
one
difficulty still experienced
by
needs,
point
business
advance.
demand.
ago
cities
the
"
estate,
backbone
striking expression,
costs,
cities
of
power
properties,
of
Mountain
the
affd
its cities showing price
advance.
the Association by local member
v...
Central
active
more
Central section
In making^ this announcement, the Association also
the following to say:
in
survey
which
released Agu. 15 by the National Association of Real Estate
Boards.
100%
by
shown
is
higher selling prices, the Pacific section has the best report,
of
than
large proportion of
very
In
ago.
going
100% of Cities Show Rising Activity
activity
South
a
Commonest
Found Most
estate
North
Rates
insurance.
months
reporting six
so
lower;
outlying office property rents reported going lower.
areas
or
13%
business property rents
outlying
Central, South Atlantic, and West South
.of tiie cities report a more active market.
the supply of
alfalfa
against 27% so
are higher
as
outlying office structures
for
against
as
are
are
East
report
East
drought
programs,
flat failure, yielding,
a
made
animals,
and
than doubled
more
lateness
the
hay-consuming
14
grain
and
will be like the benefit payments
form
a
th^se
conservation program of
of
acreage
Rents
present survey
.
Ih
cities
supply which is probably one-third larger,
adjustment
exceeds
payments
program
the
1932
agricultural
program
of
AAA
nothing
or
The
crops.
the
hay
a
number
year
corn
us
the
to
acreage
the
steadily- since
In
conservation
give
the
to
of hay and
the supply
is
cities
cities
real
As to
to
Thanks
situation
fundamental.
the
year,
that
so
increasing.
was
have combined
in
grasses,
been
feed
1936
the
of
40% of cities reporting,
in
ago
ago.
shown by the
are
500,000 population represented in the survey.
Every city of over 100,000
population reporting shows advance in activity with the exception of one
city, which reports a condition level with that of last year.
the AAA has placed greater emphasis upon the planting
year,
and
the
in
spot
Each
year
In Two Sections
shipments;
bright
of
2%
% of 1%
Rising
conserve
*
forage.
18%
smaller
of 1934 will not be
and
a
only
livestock is
buy
will
again
higher than
only
to sell
pressure
1165
outlying business properties
reporting six months
seed
It has again worked with the railroads in getting lower freight
supplies.
rates
danger of
no
livestock prices
of
relation
required
is
for
Because
of
widespread
interest
in the anti-price dis¬
by the last session of Congress
as an amendment to Section 2 of the
Clayton Act, the Federal
Trade Commission made public on
Aug. 20 a discussion
of that legislation as it will occur in its annual
report soon
crimination legislation enacted
to
as
be completed.
follows:
The Commission reviews the legislation
1166
19, 1936.
by the President on June
Robinson-Patman
The
bill as originally introduced
amended Section 2
unlawful price discriminations and supple¬
certain other forms of discrimination to
be unlawful.
The Borah-Van Nuys bill was directed toward making
certain price discriminations a criminal offense.
Both bills were designed to prevent arbitrary discrimination in the
course of inter-state commerce as a result of which sellers conferred sub¬
stantial competitive advantages upon some customers and not upon others,
or
as
sometimes stated, to restore equality of opportunity in business
without penalizing service and efficiency.
As finally passed, the Act is
ajconsolidation of the provisions of the various bills introduced'-in Congress
by Senator Robinson, Congressman Patman, Senators Borah, Van Nuys
of
Clayton Act defining
the
the section by declaring
mented
'
and others.
principal provisions of the amended
comparison of the
A
of the section as it had
sented
between the old and the new law:
principal points of difference
the
section and
in 1914, is pre¬
This comparison will show
columns.
parallel
Amended Section 2
Original Section 2
it
unlawful
to
discrimi¬ Declares it unlawful to discriminate
in price in the course of inter-state
nate in price in the course of inter¬
between
different
pur¬
state
commerce
between
different commerce
chasers of 11 like grade and quality,
purchasers of commodities sold for
where either or any of the purchases"
use, consumption or resale within the
are made in the course of inter-state
United States, subject to the fol¬
commerce and where the commodities
lowing requirements:
Declares
sold for
use,
consumption or
within the United States or
possessions, subject to the fol¬
lowing requirements:
are
resale
its
(a) That the effect
"may be to (a) That the effect "may be substan¬
substantially lessen competition or tially to lessen competition or tend to
create a monopoly in any line of com¬
tend to create a monopoly in any
merce, or to iniure, destroy or prevent
line of commerce."
competition with any person who either
grants or knowingly receives the benefit
of such discrimination or with cus¬
tomers of either of them."
(b)
"on
quality or quantity of
sold" or make other
than "due allowance for difference
in the cost of selling or transpor¬
the
grade,
the commodity
tation."
the
That
discrimination
make
for
allowance
"due
than
other
in
differences
of
account
(b)
be
discrimination
the
That
not
Section 3
part of the
any
for the
States
United States at prices lower than elsewhere in the United
of destroying competition or eliminating a com¬
purpose
offense to sell goods "at unreasonably low
competition or eliminating a com¬
It is also a criminal
petitor.
for the purpose of destroying
prices
petitor."
enforce compliance with the new Act, as distinguished
proceedings, is by virtue of Section 11 of the Clayton Act
to
Authority
from criminal
the new Act is not applicable
Commerce Act, as amended,
radio communication or radio trans¬
or to banks, banking associations and trust companies.
Commerce Commission has authority to enforce com¬
Commission in all cases in which
vested in the
to common
carriers subject to the Interstate
to common
carriers engaged in wire or
mission of energy
Interstate
The
carriers subject to the Interstate Commerce Act as
Communications Commission has authority to
cases applicable to common carriers engaged in
wire or radio communication or radio transmission of energy; while the
Federal Reserve Board has authority to enforce compliance where the
Act is applicable to banks, banking associations and trust companies.
Other proceedings for violation and threatened violation of the new
pliance by common
Federal
the
amended;
enforce
stood since its original enactment
following
the
in
contained in Section 2-A to F, inclusive, of the new Act.
of the new Act also makes it a criminal offense to sell goods in
discrimination
to Section 2 of Clayton Act
Borah-Van Nuys Act, Public 692, was signed
Robinson-Patman,
The
Aw. 22, m6
Financial Chronicle
.
Recent Amendments
compliance in
Act
provided for by other sections of the Clayton Act.
Section 15, the Department of Justice is given
are
the power to
violations of the new Act
and the right of any person, firm, corporation or association for injunctive
relief against threatened loss or damage by violation of the new Act is
provided in Section 16 of the Clayton Act, excepting that an action for
injunctive relief for threatened loss or damage may not be brought against
any common carrier subject to the provisions of the Act to Regulate Com¬
merce approved
Feb. 4, 1887, in respect to any matter subject to the
regulation, supervision or other jurisdiction of the Interstate Commerce
Under
proceedings to prevent and restrain
institute
Commission.
In addition to
the proceedings that may be
dif¬
ferences in the cost of manufacture,
sale,
or
delivery resulting from the
different methods or quantities in which
such
commodities are to such pur¬
chasers sold or delivered."
That the discrimination "in the (c) The amended section does not
or
different
communities" contain the equivalent to (c) in the
"in good faith to meet com¬ other column, but provides that as a
matter of proof a prima facie case of
petition."
discrimination may be rebutted by the
seller "showing that his lower price or
the furnishing of services or facilities
to any purchaser
or purchasers was
made in good faith to meet an equally
low price of a competitor, or the services
or facilities furnished by a competitor."
with
Lamont
W.
Thomas
(c)
the
discrimination
be
That the discrimination be not (d) That
selection of not the result of the sellers' selection
transactions of customers "in bona fide transac¬
tions and not in restraint of trade."
and not in restraint of trade."
(d)
customers "in bona fide
equivalent
Nothing
(e)
column
other
in
the result of
the
be not
"price changes from time
That the discrimination
(e)
in
(e)
to
appears
to time where in
original section.
conditions
response to
changing
affecting the market for or
marketability of the goods concerned,
such as,
ut not limited to actual or
imminent deterioration of perishable
goods, obsolescence of seasonal goods,
the
distress
sales
under
in good faith
sales
court
process
or
in discontinuance
of business in the goods
concerned"
Note—New language in italics.
An
is
where the Federal Trade Commission
finds "that available pur¬
quantities are so few as to render differentials on account
discriminatory
unjustly
thereof
of
which qualifies (b) in the second column above
important proviso
that
chasers in greater
or
promotive of monopoly in any line
all interested
and revise the same as it finds
classes of commodities."
There¬
commerce" it "may, after due investigation and hearing to
parties fix and establish quantity limits
after in such
cases
The
are
as
of
of the
methods
The
provisions that are in the nature
of non-discrimination.
principle
the
independent
such.
established are not permissible.
Act includes some important
new
extensions
effects
had
which
These extensions
prohibition against the discriminations in price
forbidden were evidently considered as either
other forms of discrimination
The payment of
constituting indirect price discrimination or
similar
price
to
brokerage, commission or other
discrimination.
compensation in lieu thereof to an inter¬
rendered, where the intermediary
subject to the direct or indirect
control" of any party to the transaction other than the one paying the
intermediary's
compensation.
Allowances
for advertising and sales
promotion work are declared unlawful unless they are made "available
on
proportionally equal terms" to all customers who compete with one
another.
It is also declared unlawful to discriminate between purchasers
of a commodity bought for resale by furnishing any services or facilities
for processing, handling, selling or offering for sale, that are not "accorded
to all purchasers on proportionately equal terms.''
The new Act specifically
declares it unlawful for any person engaged in commerce "knowingly to
induce or receive a discrimination in price" that is prohibited by the amended
mediary is forbidden, except for services
"is acting in
fact for or in behalf, or is
The new Act affirmatively protects
2.
Section
association to distribute its earnings in
the right of a cooperative
proportion to the volume of dealings
aid
an
to
more
effective enforcement
of Section 2 of the Act, the
Commission shall have established a prima facie
"discrimination in price or services or facilities" the burden of
Act provides that when the
case
of
violator and "unless justi¬
affirmatively shown" the Commission may order the
rebutting such a case shall be upon the alleged
fication
shall
be
The theory of this provision is that the facts
discrimination terminated.
which constitute justification are
discriminator.
The
Act
necessarily in the possession of the alleged
preserves
all rights of action arising, litigation
based on Section 2
prior to
Provision is made for reopening of proceedings
pending and orders of the Federal Trade Commission
of the
Clayton Act, issued and in effect,
passage
of the new Act.
concluded under the old law and the
Commission's original orders
law.
3
of the
new
for
assist
in
of criminal
modification or amendment of the
as
in the case of the old law.
Act makes it a criminal offense and provides a
penalty of fine or imprisonment
or
discriminating.
of persons who knowingly discriminate
This section,
discrimination which is not
or pending on review
to include any violations found of the new
Court review is provided
Section
Thomas W. Lamont of
Abroad
J. P. Morgan & Co., who
returned
Africa on Aug. 20, in
response to inquiries, issued a statement to the press yester¬
day (Aug. 21) in which he expressed himself as optimistic
regarding conditions abroad. He stated that "no one would
wish to minimize the immense difficulties in which the world
finds itself today, but that they must eventuate in a general
war is hardly a justifiable conclusion."
Mr. Lamont de¬
picted the London markets for money and investments as
steady and firm, and he declared that "their attitude fur¬
nishes considerable reassurance at least."
Mr. Lamont's
from
trip to Europe and South
a
statement follows:
I have no first¬
England and France the
people struck me as far less apprehensive that many Americans are of an
early outbreak of war in Europe.
You see, although we are 3,000 miles
away, our able American press supplies us every morning with reports of
interesting occurrences in every capital of Europe.
And we are so im¬
pressed with the bad side of the news that we are apt to forget the peaceloving millions in their homes and fields and factories and to leap a few
hurdles and exclaim:
"Oh, Europe is on the verge of another Great War."
No one would wish for a moment to minimize the immense difficulties
in which the world finds itself today.
But that they must eventuate in a
general war is hardly a justifiable conclusion.. It is clear that 95% of the
people of every nation of Europe do not want to fight.
They look on war
Everybody has been asking me
hand knowledge, but in the
about war in Europe.
three weeks I spent in
Every sane man now
realizes
direc¬
with abhorrence and dread,
just as we do.
Therefore, while it is true that in many
however, sets up a definition
identical with the definitions of
war
everyone
loses.
nevertheless, I am one of
those who believe that the men who rule the destinies of Europe will go
very slowly in dragging their unwilling peoples into a major conflict.
Oh, no, with every appreciation of the incalculable perplexities of con¬
ditions over there, I am not expecting a general war.
London is still the
selling at a heavy discount,
tions democracy is
The London markets
world's financial center.
are
steady and firm, and their attitude
for money and investments
furnishes considerable reassurance
at least.
To be
more
specific, the indications are that Germany
is determined to
Britain and France. Through
renounced, at least for the
present, any ambition to absorb Austria.
It is clear that Russia, even
though credited in some quarters with being ready enough to see trouble
elsewhere, is not believed to have any provocative plans on the West or
keep
the
on
away
new
from serious trouble with Great
German-Austrian treaty
Germany has
the East.
In
calling off sanctions, the British Government
not to
could
attempt something that had proved
render
not
effective
without serious
thought, too, seemed to be that if—the main
sanctions
were
indefinitely continued, Italy
some
stated that it preferred
plainly ineffective; and that it
risk of war.
And its second
object remaining unachieved—•
would be lost as one factor for
in the event that trouble came up
the maintenance of European peace,
from
of its respective members.
As
from
that in
differentials based on differences in quantities greater
than those so fixed and
of
commodities or
to particular
necessary, as
Return
Furnishing Reassurance
be not
the result of the sellers'
His
Optimistic as to Europe—Discounts Fears of War—
Declares 95% of Peoples of European Nations Do
Not Want to Fight-—London Markets Regarded as
same
the
instituted to enforce com¬
restrain violations of the new Act, a person who is
injured in his business or property by reason of violations of the new Act
may sue for three-fold damages and cost of suit, including a reasonable
attorney's fee.
This is provided for by Section 4 of the Clayton Act.
pliance with, and to
other quarter.
With the raising of sanctions there
has seemed to come a vigorous
revival
sides. The inspired
renewal of Italy's traditional friendly relations
British have withdrawn in good part their Medi¬
of efforts for appeasement.
This is evident on many
Italian press is encouraging a
with Great Britain.
The
terranean fleet in response to
France
in
various
Lacarno and neutrality
invitations to
a
the Italian gesture, and they
continental
moves
toward Spain.
renewed
Locarno
for
better
have supported
understanding, such as
Germany and Italy have accepted
Not least important have
conference.
been the concessions made by Great
Britain in concluding a new treaty
of
amity with Egypt.
As to the
recognize philosophically, even
build
though
that you cannot have collective
action
League of Nations, there is every disposition to try to
for the future.
Its leading members
with regret and some humiliation,
This business of
nations of scores of millions
of proud peoples may have read well on paper, but to make it even half way
work against a major power requires practical unanimity among all the
if many of the great powers are
collectively not present.
attempting to boycott, coerce and punish whole
other
great
nations of the
Earth.
And that does not seem
That lesson has now been learned, and the learning
attainable
of it has emphasized
Volume
143
the importance
Financial
of other
methods
of appeasement—methods
that
will
Chronicle
be
Cravath, de Gersdorff, Swaine & Wood, said in
observed, I believe,
even among the governments from which we have
heretofore not been led to
expect them.
Tranquillity in Europe is still far
off, but I hope and believe that it will beat out
the coming of any great war.
May I add this: it is easy for us in
America, happily secure from foreign
aggression, safe in our own enormous
resources, to criticize the peoples of
the Old "World and to
say that their statesmanship has gone bankrupt. But,
I have
as
indicated, I
which
by
discussed in detail the
procedure involved in reorganization,
the law as amended in
1935, and he said that while
under
am not
economic
an
Unwisdom
is
one
which
the
democratic countries
Let
me
peoples of
are
than
armed
the Act is cumbersome in
its present form, it would not be
advisable to scrap it
entirely. In any reorganization action,
lie said, the creditors
must be compensated in some manner.
conflict.
He
added, in part:
Assuming that all the
been
France
and
and
■,
and been told.
seen
horror of
my
capitalization
division
mental
asked about Spain.
The situation there is far
knowledge of what is going
too clouded to enable
ing
and for
a
long time the struggle is bound to be
a source
of great
month
that
we
like
respects
spent in
America,
was
that
perfect.
Not
wonderful land,
in its
magnificent
a
both
one
that
in
vast
so
many
We
time—visiting him and his family
income
the
were
on
to
cannot
hand
speak too warmly of the kindness and cordiality with which
been
in
on
on every
ments
facturing Co.—Less
ployees Vote in Poll
Plant
Than
of
R.
40%
of
C.
A.
still
to
in
field,
daily
If
roads
such
of
case
to
of
aggregate
of
its
of
experience
as
the
private
a
of
their
with
the
you
the
form
recent
be
the
over
infinite
an
voluntary but
forced
Crosser-Wheeler
bondholder
of
or
Railroad
by
bill.
The
stockholder,
ownership
venture.
little
other
has
than
the
managements and
hope for the future of their invest¬
economic
and
reorganization
legal philosophy
is
to
continue
applied
that
to
of
the
sincere
a
a
the
The
the
scholarly
member
of
President's
Choose."
philosophy to be applied to its railroad prob¬
problem
and
the
Must
of
reorganization.
governmental
There
cannot
management.
The
be
both
railroads
of
a
to
furnish
and
the capital
obsolescence
American
became
public
accustomed
philosophy
and
and
thought-compelling work "America
which
which
Section
those
insist
77
the
it
now
make up
the
standards
and
management.
treatment
of
maintained
Capital, but only by the government itself
taking
the
over
by
to
rail¬
stands, is to be the
be
the
during
high
initiative
cannot
to
accrued
governmental
as
standards
even
have
upon
private
underlies
now
underlies
philosophy,
will
under
necessary
which
pre¬
private
railroads.
a
The Labor Board
Chicago Committee
to
understood to be studying the question of whether
not under these circumstances the Electrical
and Radio Workers Union
could be
previous
certified
the representative for
collective
bargaining.
majority of those eligible to
The
permit
workers
to
take
part
in the balloting.
zation said this constituted more than
The
Independent organi¬
1,500 of its members.
boycott, the Employes' Committee Union
Following
Despite the
received 57 votes.
five-week strike at the Camden RCA plant, all other
points
of contention including
regulation of horns and wages were settled,
leaving
the selection of an organization to conduct
collective bargaining to be
The election
The special election
was
called
by the
the RCA-Victor
at
plant at Camden to de¬
bargaining representatives of the plant's
on Aug. 4 by the NLRB, which called
for the election within 15
days and which specified that the
election would be open to
employees on the payroll as of
June 12. Associated Press accounts from
Washington Aug. 4
had the following to say
regarding the strike:
termine collective
employees
was
ordered
in progress at the Camden
was
RCA' plant several months.
It
was
marked by considerable violence,
police action and demonstrations
by large number of employees in Camden. The strike was settled
July 20
by an agreement between the workers and the company that the
Labor
Relations Board hold
an
election.
As to the settlement
agreed to the Philadelphia "Record"
The settlement provides for
company
policy, there will be
agreed
no
a
this
higher
wage
at a union mass
Workers'
level
increases until after negotiations
The terms of the agreement include concessions
union and the company.
representing
The settlement
was
on
as
are
a
matter
Washington advices, Aug. 17 to the Chicago "Journal of
from which we quote, state that the
group
Commerce,"
advocated
an
velopment
of
the part of both
the
recommended to the strikers
meeting in Camden's Convention Hall by Powers
Hapgood,
and William Leader, head of
Philadelphia's
Lewis
greater
of
PWA
housing activities, the de¬
municipal
housing
the lower income groups.
It is added that the
committee's recommendations are in
accordance with poli¬
cies advocated by the
housing division of PWA for the
establishment of
The
report
Wood
The
committee
be
must
a
housing
submitted
is
depended
the
great cities,
program on
to
is quoted, in
part,
indicated above:
paper
to
upon
lower
to
be
of
housed
the
under
by
the
that
housing for
groups
permanent basis.
Ickes
follows in
as
provide
income
a
Secretary
unanimously of the belief
will have
Hosiery
Says Procedure for Railroad Reorganiza¬
Cumbersome—Lawyer Says Security Holders
Have Little Hope for Future in
Investments
tion Is
if Political and Economic Trend of Last
Few Years
Is to Continue
Railroad reorganization under the provisions of
Section 77
of the Federal Bankruptcy Act involves a mass of
is not calculated to
by
security
committee
far
way
reflect
your
personnel.
complexi¬
give adequate opportunity for
holders, Robert * Swaine,
of
in
the
Any
spend
two
feels
that
housing
the
upon
centralization
These
of
the
causes
while
the
States,
bound
is
the
a
two
to
to
part
of
the
particularly in
Federal, State or
of
have
errors
two
main
department
initial
the
size of
been
the
or
the
made
which in
causes,
no
character of
program,
and
the
Washington.
previous
experience,
that
attempts
to
for a housing
program in a space of
widely varying conditions as the United
$300,000,000
make
should
as
errors.
be
three years
government.
The report
in
without
country with
program,
of
space
over
the
to
private capital
greater
form
and
due to
your
Chairman
advices
population,
some
mistakes
are"
are
program
$200,000,000 to
years,
what
program
leadership of
administration,
highways
R. T. Swaine
self-expression
extension
responsibilities for local
programs, and expressed the belief that while
private capital
must be depended
upon to house most of the
population,
some form
of subsidy must be set
up to aid in decently
of
ties and
to Harold L.
Ickes, Secretary of the Interior, by
Committee of the Chicago General
Advisory
appointed by the Public Works Administration and
headed by General Robert E. Wood.
of
completed.
Union.
Can
17
thus
wage setup
to
Wagner
the Executive
The
Wage Setup Provided
which will put RCA employees
on a par with firms
where, union leaders said during the strike, wages of
production workers were 20 to 30% higher.
the
Aug.
municipal subsidy.
New
in
Board
population,
July 22 said:
"While
Contained
Ickes
long-range decentralized program designed to
provide
'housing for lower income groups was recommended on
a
determined by a vote of employees.
Labor Board.
A strike
Bill, Says Mr.
A
Employees' Committee Union, an independent Organization which
opposed the strike conducted by the Electrical and Radio
Workers, with¬
drew from participation in the election when
the Board refused to
clerical
by Proportionate Grants by States and
Municipalities—Objective
In all
vote.
Be Met
to
it has required at least that those
voting in the election be
cases
Appointed by PWA Recommends
Ickes Program for Federal Grants
Secretary
was
as
The
made
but
not
should
housing
for
be
program,
one
set
like
our
administration
up
as
a
continuing
°
,
states that "the ideal
system
should
public
for
or
a
policv
*
*
be some-
y* hat similar to that under which Federal aid is
extended
in the
highway system, to wit, a grant from
the Federal
Government providing
proportionate grants are made
State
by the
and
by
the
municipality."
acknowledging the report, said:
It
the
is
of
interest
principles
In
spite
session
of
a
relation¬
of legislation,
reams
control
and
evidence of
Railroad
in
the
operating
one
not alone by property and
Retirement Act and
revenues,
as
he
the
government's
I need not recount to you the
attribute
no
have
political,
maintenance
vailing
the
manner
plight that very few of those now in Section 77 pro¬
fairly be reorganized.
The industry affords little attraction
can
it
the
the
of the
governmental
by action
losses
choose
such
depression.
Workers Union received 3,106
votes, but failed to
majority of the employees in the plant. A Washington
dispatch of Aug. 17 to the "Wall Street Journal" added;
of
of
private investors
which
will
that this is but
recount
whether
can
and
entitled
must
are
deferred
Radio
a
the
the
management
ceedings
Committee Union resulted in only 3,169 ballots
being cast,
out of 9,700 eligible
employees. The United Electrical and
or
has
including
today
considering the selection of a collective bargaining agency
for workers at the
Camden, N. J., plant of the R. C. A.
Manufacturing Co. Employees of the company voted on
Aug, 15 to select their representatives, but less than 40%
of eligible workers went to the
polls. Labor Board officials
said that a virtual boycott
by members of the Employees
gain
not
substantially
trend
another
lems,
the
years.
America
Em¬
was
in
holder,
stand
the
few
private
The National Labor Relations Board this week
wrestle
imposing
by legislation
as
with
if
Cabinet
Manu¬
Eligible
but
management
In
Collective Bargaining Agency
Camden
need
railroad security holders
last
Workers
I
State,
security
left
their
for
who
railroads know
Security Act and
obligation to
made to feel at home.
NLRB Still Undecided
and
taxes
Social
railroad
wild animal life roaming at large, and then
going by
the North to the marvelous Victoria Falls of the
Zambesi.
I
we were
You
our
philosophy affecting the whole field
legislative threat
his
motoring with him through the Kruger National
Preserve, with all the
air far
what
both
future of the property
number of
operating and financial problems.
intolerable burdens imposed
upon
resources,
mineral and agricultural, in the
enterprise and thrift of its people.
with General Smuts much of our
farm in the Transvaal,
character.
Federal
for
and
railroad
your
in
was
its
the
has
assuming that the approval
obtained
company
holders,
to
as
77
inherent
out to you the many respects in which
govern¬
substituted for private initiative and private
bargain¬
reorganization in respect of matters wholly
of
ship to the railroads.
anxiety to
been
new
Section
difficulties
pointed
been
field
in
in
constitutional
avoided,
the
old security
prescribed by
tape
the
has
by
indicated
financial problems of
single day of rain in the
beauty,
the
red
all
courts
issued
have
fiat has
and
successfully
the
be
have
in the
trend
Europe.
My holiday in South Africa
I
private
with certainty
on, or
the
issues involved are.
It is by no means a clear-cut contest
between the workers and peasants with the
Government on one side and
militarists on the other.
It is all a shocking and hideous tragedy.
Just now
and
among
venture?
clumsy
unwound
to
reorganization
war
But I do hope and trust and believe that Europe
anyone to speak with real
all
Commission
.
I may be too optimistic,
by
successfully
in^he Act have been
other
the
-
I may be too much influenced
so.
and my hope of peace.
will keep the peace.
of what
Britain
I don't speak as an expert, and I only can give
impressions of what I have
am
Great
trying to meet.
say again that
but I don't think
I
devastating
chiefly not of condemnation, but of sympathy for the prodigious
complexities
my
more
part of Governments—yes, plenty of it; the weakening
methods; and the continued blocking of international trade
help to establish and maintain peace.
But my own feeling
would
as
even
the
on
of democratic
such
war
address
an
has
recently come to our attention and which was
delivered on July 1 before the forty-seventh annual
meeting
of the
Railway Accounting Officers in Detroit.
Mr. Swaine
prepared to adopt such a view. Following the
close of the greatest war that
modern civilization has known, Europe was
rent
1167
of
to
expressed
the
fact
Congress,
it
observe
in
this
that
is
how
your
Ickes,
recommendations
bill.
the
my
closely
Secretary
Wagner bill
personal
was
opinion
not
that
passed
necessity
in
in
parallel
the
itself
last
will
.
Financial
1168
enlightened
of
evolution
foundations
this
which
on
in New
19230
(Wash.) "Post-Intelligencer" Suspends Publi¬
as
Result of Strike of Editorial Workers—
Hearst Paper
Charges Intimidation in Walkout
Sponsored by Newspaper Guild
The Hearst General Management of New York City an¬
nounced on Aug. 19 that publication of the Seattle "PostIntelligencer," owned by Hearst Consolidated Publications,
Inc., and published in Seattle, Wash., had been suspended
indefinitely, as the result of a strike sponsored by the Ameri¬
can Newspaper Guild and supported by longshoremen, team¬
sters and other representatives of labor in Seattle. The strike
was declared because two of the paper's editorial employees
were discharged.
The Guild contended that the men were
dismissed because of their union activities, while managers
cation
Department of Commerce Predicts 1936 National Income
of
$60,000,000,000, Highest
Since 1929—Officials
First
for
Expenditures
Smaller
Expect
Time
in
r
Seven Years
Officials of the Department of Commerce on Aug. 17 pre¬
that the national income in 1936 will approximate
dicted
$60,000,000,000, the highest since 1929.
This, it is stated,
would enable business to offset its total expenditures for the
Figures for 1935 showed income
first time in seven years.
was $52,959,000,000 in that year, compared with
income paid out of $53,587,000,000.
In 1929 national
produced
an
estimated at $81,034,000,000.
was
efficiency.
"Herald Tribune":
$39,545,000,000
that the
The Department's figures on
1929-1935 (last 000 omitted) follow:
peak of $81,034,000,000 to a low of
After falling from a
makes commerce statisticians believe
1935
the rise in
1932
produced will exceed the outlay.
income
national income for
Income
The biggest portion
Paid Out
Paid Out
44,940,000
50,174,000
53,587,000
41,742,000
48,397,000
52,959,000
1933
$78,632,000
72,932,000
61,704,000
$48,362,000
1934.
1935....
of em¬
Next in line are
of income paid out goes for compensation
and 68%.
withdrawals by the owners of businesses.
predicted rise in national income this year, an upturn in per
dividends, interest, and income
With the
expected by Commerce Department
capita income of employees also was
From the 1929 high of
officials.
$1,466, the per capita reached a low of
$1,201, or 81.9% of the 1929 level.
officials is largely
of the series
made by the department since 1929 in compliance with a Senate resolution.
In analyzing the national income of 1935 and its trend a
Commerce
$1,097 in 1933 and for 1935 was
predictions of Commerce Department
The basis for the
Department report said:
recorded
produced increased
from 48.4 billion dollars in 1934 to 53 billion dollars in 1935, a gain of 10%.
The 1935 estimate, compares with 39.5 billion dollars in the low year of
1932 and 81 billion dollars in 1929.
The gain of 13.4 billion dollars, or
34%, from 1932 to 1935 is equal to approximately one-third of the drop
which occurred from 1929 to 1932.
Despite this gain, the 1935 total is still
more than one-third below the 1929 level, although the real income is much
higher relative to 1929 because of the decline in prices.
t%"The 3.4-billion-dollar rise in the national income paid out in 1935
brought the total to 68% of the 1929 total.
From a peak of 78.6 billion
dollars in 1929, aggregate income payments declined to 44.9 billion dollars
in 1933.
From 1933 to 1935 income paid out increased by 8.6 billion
a
The net value of goods and service
substantial gain.
'
vet.
•
<
"Post-Intelligencer"
Seattle
The local
Union.
Charles Howard, President
declarel illegal by
been
of the International
Fifty-four employees out of 80 in the editorial de¬
partment and all other members of the printing unions have sought to
respect their contracts and publish the paper.
They have been prevented
from entering the plant by a turbulent mob, in no wise identified with
the Seattle "Post-Intelligencer," or with the printing trades unions.
Typographical Union.
the
the
woodsmen are acting under
the Teamsters Union,
the teamsters and the
The longshoremen,
the direction of Mr.
David Beck, Vice-President of
of Seattle, and according to
own description, he "undoubtedly will again have the honor of leading
labor forces of the Democratic party in the State of Washington and
acknowledged political boss of the city
Oregon" in the present Presidential campaign.
The Mayor of the city
David Beck, and
to
appeared, in
of Seattle has publicly proclaimed
election, and refuses to uphold the authoirty
A statement issued
Beck mob is concerned.
Washington is running for re¬
Democratic Governor of the State of
The
of the State.
The real issue involved in this dispute is
to
fair
seek
working
,
Aug. 20 by the American Newspaper
on
Guild, under the signature of Heywood Broun,
President, said in part:
j
men
his allegiance
constituted authority in the city of Seattle has dis¬
far as any effective control of the
so
conditions
workers to support them in a
dollars, or 19%."
has contracts with the Typograhical
the Stereotypers Union, and the Engravers
chapter of the printers' union aided the strike, which has
Union, the Pressmen's Union,
his
■
.
the national income produced
"For the third consecutive year,
*
;■
employees out of 80 in the edi¬
department, declared a strike because of the discharge of two em¬
ployees, one for incompetency and one for insubordination.
The cases
of these two discharged employees have been filed by the Newspaper Guild
with the National Labor Relations Board, appointed by President RooseGuild, representing 26
The Newspaper
just completed of the income of 1935, one
the careful study
.
part:
torial
The
usually amounting to between 64
ployees,
Income
Produced
Income
Income
Produced
$81,034,000
1... 67,917,000
53,584,000
..$39,545,000
of in¬
week,
and publication was temporarily suspended on Aug. 14.
Mayor John F. Dore of Seattle offered to arbitrate the dis¬
pute, but the "Post-Intelligencer" rejected that suggestion
on Aug. 18.
The Hearst announcement on Aug. 19 said, in
said the discharges were solely because
The offices of the paper were picketed this
of the paper
The Commerce
Department forecasts were described in greater detail as
follows in a Washington dispatch of Aug. 17 to the New York
income
in
assessment insur¬
New York
authorized
Seattle
Colonel Albert A. Sprague,
George W. Young.
Stern, John Stuart and
Aldred K.
.
the amount
makes
group,
Pirie, George A. Richardson,
T.
$4,500,000,000 of fraternal and
organizations of these classes authorized in
of life insurance carried by all life insurers
York at the beginning of 1936 over $89,000,000,000.
by
carried
ance
in addition to General Wood, consisted of
Graham Aldis, Henry P. Chandler, Kellogg Fairbank, John
The
received in New York on these several classes in 1935
policy claims incurred, $208,714,053; policy claims
premiums
paid, $209,864,743.
The addition of over
Any
inter¬
demand will grow as time passes.
steps which your committee may take in developing this community
est will be welcomed by the housing division.
1936
$628,884,305;
were
and I am hopeful that an
be developed,
can
public interest and
broader
even
Total
The
beet
a valid housing: program in this country.
community understanding constitutes the
continuation of
the
assure
M>H
-I"
22,
Aug.
Chronicle
International
the right of organized newspaper
and
the right
of other organized
strike brought on by a denial of those con¬
ditions.
Seattle are actively
Scores of unions in
Cent of Life Insurance Business in
States Carried
by New York State Com¬
Per
Eighty-five
United
Reports
panies, State Insurance Department
in New York
carry close to 85% of the business in, force in
the
United
States,
said a statement issued in Albany,
Aug. 10, by the New York State Insurance Department.
The new business of 1935 totaled well up to $12,000,000,000,
according to the announcement, which noted that the com¬
bined assets of these companies on Jan. 1, 1936, reached
$20,328,715,716, an increase during 1935 of $1,237,887,885.
The following is also from the statement:
now
stocks, and over
$4,500,000,000 are mortgage loans.
The stock holdings ar^ relatively
small, being limited under the New York law to the preferred and guaran¬
teed classes.
There are over $1,500,000,000 of real estate holdings.
The surplus ancffi special funds (including $27,115,630 capital) over all
liabilities
amount to $1,109,756,973, of which
$645,407,936 is held by
Over
of
$9,500,000,000
bonds
assets are
present
and
.
New
York
State
income
policyholders and their
1935
for
Of
$3,223,555,535.
the
was
latter
beneficiaries.
the life
amount
'
$2,364,214,209
in
Seattle," and rule of
The Mayor
1934,
The Governor of Washington
the
The American Newspaper
There
of
were
40
went
to
of
summary
life
1936,
for
000,000.
force
was
insurance
was
' The
annuities
and
contracts
sup¬
income
annual
in force representing
insurance
New
in
were
18,507,276, and
for
issued
York
in
appears
the
following
in
1935
in
round
figures
Policies in force in New York, Jan.
net
were
$1,975,400,000;
gain
$234,642,319.
.
.
.
for the strike and its direction.
Jona¬
Eddy, National Executive Secretary, is on the scene and in personal
charge.
The American
Newspaper Guild welcomes, naturally, the support
and
active aid of the
It will continue to welcome this
cooperation of other unions, including the valuable and
teamsters, longshoremen and woodsmen.
aid and the aid of the Seattle Central Trades and Labor Council.
go
further.
It will seek the
It will
entire labor movement
backing of the
in
Rand Strike Is Upheld by
Appellate Division—Limits Pickets
Syracuse Plant to Four—Ohio Factory Reopened
Injunction
in
for
the
for $18,668,000,000,
industrial
year
1935
Remington
at
After
Walkout
insurance
in
amount
of; which
was
of
for
in junction limiting strikers at the Syracuse,
N.^Y., plant of Remington Rand, Inc., to four pickets was
affirmed
18 by the New York State Appellate
Department.
This was the first higher
court ruling involving an interpretation of the State AntiInjunction Law of 1935. The appeal of six striking unions
was argued Aug. 6 at an extraordinary session of the Appellate
Division,
on
Aug.
Fourth
Division called
by Governor Lehman on the plea of labor
leaders.
State:
industrial insurance.
numbered
insurance
967,119
for
of which $515,550,000 was for group insurance and $705,-
$2,584,500,000,
900,000
life
business in the
of
Policies
having
in New
authorized
the companies
insurance policies
of
position
uphold the authority of the State.
Guild, an affiliate of the American Federation
New York State
This is the first complete report of such business.
$431,929,380.
The
1936
companies
life
the city of Seattle has disappeared
of Labor, assumes full responsibility
than
failed to support the anti-labor
Hence Hearst declares
and
"Post-Intellingencer."
the Governor has refused to
A temporary
beginning of
plementary to
Hearst
that the constituted authority in
companies
York had
outstanding 26,161,107 ordinary policies in an amount of insurance of
over
$69,350,000,000, and 67,191,050 industrial policies in an amount of
insurance
of
close to $15,218,000,000, totaling
93,352,157 policies and
over
$84,568,000,000
insurance
in
force.
Ordinary
policies
averaged
$2,651; industrial averaged $221.
the
the settlement
offer but the Hearst management
policies
$54,907,187.
At
The. Guild accepted the
rejected it.
of
"terror
"turbulent mob."
a
of Seattle offered to arrange a meeting for
of the dispute.
-
decrease
for
with
continued
solidarity of the labor movement is termed by Hearst as
The
the disburse¬
and
$4,481,049,070
increase
show
compared
The Seattle
"Post-Intelli¬
gencer" on the "unfair" list, and on Wednesday, Aug. 19, voted
reporting to New York
1935 the following:
Assets, increase $1,237,887,885 ; liabilities,
$1,185,723,750 ;
income,
increase
$239,609,702;
disbursements,
As
behind the strike.
Labor Council a week ago placed The
America.
companies.
combined
The
ments
Trades and
support of the strike.
companies authorized
insurance
life
The
State
Central
1,
group
$3,545,r
insurance
in
The strike at the Syracuse plant has lasted for 13
weeks, and has been accompanied by much violence.
Meanwhile the factory of Remington Rand, Inc., at Nor¬
wood, Ohio, which had been closed for many weeks as the
result of a strike, reopened on Aug. 11.
Police acted to
protect the rights of those returning to work.
.
A dispatch from Rochester, N. Y., on Aug. 18 to the New
York "Times'.'
as
follows:
quoted from the Appellate Division decision
.
-
Volume
Financial
143
In sustaining the order of July 18
of
Robertson
Chronicle
Syacruse, limiting the
number
of
pickets
restraining
and
asking him for definite
questions regarding the general labor situation
Aliquippa, Pa., a center of the steel industry. His reply
has not yet been received, but
Philip Murray, Chairman of
unionization campaign, said that organized labor would be
united in its support of the President.
Meanwhile John L. Lewis, President of the United Mine
In an eight-page opinion that
accompanied the decision,
Presiding Justice Harry L. Taylor of Buffalo remarked concerning the law
some
respects its exact scope and meaning are hardly clear."
found that there
Syracuse public officers
cation
ample evidence to justify
was
Robertson's conclusions that at the time
were
of the injunction appli¬
unable to furnish adequate protection
to
the company and that the
company had made
to
settle
the
labor
dispute.
These
conditions
Workers of America and founder of the Committee
reasonable effort
every
prerequisite for
are
trial
an
injunction under the law.
Unchanged
"This and similar statutes," Justice Taylor
wrote,
practice and procedure; they
says
"deal in the main with
matum
declaratory of the existing law and do not
are
it up, the injunction interdicts nothing which our common
law
perpetrated may be reasonably inferred from the evidence."
The court found "no abuse of discretion
of the number of pickets to
with respect to the
even
four, there being but
"In such
and
limitation
which
cerns
they do the livelihood of working
as
often, too, the solvency and
large employers
are
of those
reason
and
very
often
"When conferences and efforts at settlement fail and such
a
point where they come before
clouds the
court)
With such discretion,
controversies
of equity, the determination
a court
made there must rest in the wise discretion of the
court,
by appellate courts.
subject to review
'this court
or
appellate
any
not interfere except for manifest abuse.' "
may
The attorney for the strikers, in his argument before the court, had con¬
tended that
the company had failed to exhaust every effort to settle the
strike and that therefore the
injunction
invalid.
was
In
pointing out on July 22 that Gov. Gross of Connecticut
telegraphed to Gov. Lehman of New York, Gov. Davey
of Ohio and James H; Rand jr., President of
Remington
Rand, Inc., seeking to arrange a conference in New York
City in an attempt to settle the strike of Remington Rand
employees at six plants in Connecticut, New York State and
Ohio.
Hartford advices July 22 to the New .York "Herald
Tribune" in part said:
had
f
Soon after
the strike started on May 26, bringing out an estimated
6,000
employees, Clyde Olin Fisher, Chairman of the Connecticut State Board of
Mediation and Arbitration, wrote to Mr. Rand inviting him to confer with
the board and with representatives of the employees.
The Board received
reply from Mr.
no
Rand, and the conference
attended only by
was
'
Mr.
Fisher and employee representatives.
Later advices from Hartford
(July 24) to the
same paper
the
announcement by Gov. Cross that he had
abandoned the proposed conference bfeeause Mr. Rand had
declined to meet with Gov. Davey and Gov. Lehman had
indicated that
delagate
in lieu
of his personal attendance
he would
representative.
a
Landon.
The interests
that
opposed to independent trade unions
are
lending moral and financial support toward the election of Landon, to
defeat the aspirations of trade unions and those
aspiring to
trade unions.
The workers have
no
choice other than to support President
Roosevelt."
Edward J. Yolz, President of the International PhotoEngravers Union of North America, said on Aug. 17 that
the issue involved in the
controversy between the A. F. of L.
and the C. I. 0. "is not
ism, but simply
one
of craft
of minority
one
versus
versus
industrial union¬
majority rule."
He
declared that the C. I. 0. seeks to
usurp functions vested by
the Federation in its officers.
William Green, President of the
Federation, revealed on
Aug. 13 the legal and constitutional basis for the suspension
order against the ten unions affiliated with the C. I. O.
Mr.
Green
sent to the heads of the ten unions
copies of the formal
expulsion resolution, which said in part that tke C. I. O.
and the unions comprising it are,
by reason of their union¬
ization campaigns, acting in derogation of the charter
rights
of other national and international unions.
A Washington
dispatch of Aug. 13 to the New York "Times" discussed
Mr. Green's letters
In
a
as
follows:
separate letter to Charles P. Howard, President of the International
Typographical Union, Mr. Green pointed out that John L. Lewis, Chairman
I. O., had repeatedly stated that the
Typographical Union was
of the C.
one
of the 12 organizations affilitated with the
C. I.
Inasmuch
O.
official publications indicated that the
Typographical Union
the C. I. O., Mr. Green said that he could
not recpnsile
this with the statement of Mr. Howard to the Council
that his union
was
as
member of
a
was
The plants affected by the strike are at Syracuse, Ilion and
Tonawanda,
N. Y.; Middletown, Conn., and Marietta and
Norwood, Ohio.
reported
Mr.
are
life of going con¬
of labor—self interest
involved, often begets passion and unfairness," the Appellate
Division said.
reach
C, I. O.
Aug. 19 said, in part:
on
membership in
controversies—involving
women
Indus¬
He plans
"The
egress" to the Syracuse plant.
men
on
workers of the nation, organized and
unorganized, are supporting
the candidacy of President Roosevelt for
re-election.
They can see no hope
in
point of ingress and
one
the ten unions affiliated with the
on
Murray
is lawful; that the acts and conduct enjoined have been threatened and
in part
Aug. 14 for London.
on
by Sept. 3, or two days before
expiration of the American Federation of Labor ulti¬
the
render lawful any act which was unlawful when the statutes were passed.
sum
Organization, sailed
to return to the United States
mBasic Law Held
"To
Last week the SWOC sent
Landon
at
visions of the law.
that "in
Governor
to five
answers
Remington Rand, in applying for the injunction, had complied with pro¬
Justice
telegram' to
a
violence, intimidation and disorderly acts, the Appellate Division held that
|lkThe Appellate Division
1169
election of President Roosevelt.
by Supreme Court Justice Edward L.
not
in
member of that committee, but that he
a
a
was a
member of the C. I. O.
personal capacity.
"The Executive Council could not understand how
you could associate
yourself
the chief executive officer of the International
Typographical
I. O. and be elected and serve as its
as
Union with the C.
secretary without
the approval and consent of the I. T.
The
Council, continued Mr.
U.," said Mr. Green.
Green,
was
therefore
desirous of knowing
whether the Typographical Union had ever taken
any action granting to
Mr. Howard authority to associate himself with the C. I.
O.
The Council
asked further whether the Typographical Union's
executive board would
require Mr. Howard to disassociate himself from the C. I. O.
President Green While
Pursue
Indicating That A. F. of L. Will
Political Policy Asserts His
Non-Partisan
Admiration
for
President
Roosevelt—Replies
Query Incident to Controversy
with
C.
I.
to
In
National
Labor will adhere
to
O.
suspension order
neutral
a
policy in the
election, has again taken occasion to re-iterate this
statement
in
a
letter in which he said that
nothing has
"which would change my admiration for the Presi¬
dent "
Mr. Green's statement was contained in a letter re¬
possible for
surprised
at
publication
of
Associated
an
Press
Bearing fully in mind the traditional non-partisanship policy of the Fed¬
I cannot forget that within the last several months
you, in
your
personal capacity have indorsed the re-election of Mr.
Roosevelt.
I should like to know whether anything has happened since
that time to justify Bro. Hutcheson's statement or to cause
you to alter
Of course,
favorable disposition toward the President.
'
Frankly, I believe it is essential to the best interests of organized labor
that the Chief Executive be kept in the White
House, and I am anxious
to know
whether you still think so.
Mr. Green had the following to say in his
I
have
thereto.
your
letter dated
First
of
all,
August
the American
non-partisan political compaign.
14th.
I
am
Federation
reply:
pleased
of
to
Labor
make reply
will
pursue
a
Nothing, however, has occurred which
would change my admiration for the President.
End
can
some
readily understand how i,t
will
cause
some
confusion
and
create
feeling.
Labor
Organizers
Pledge Support to President
Roosevelt—Committee Says Labor Will Vote for
His Re-election—John L.
to
The
Return
Steel
Lewis Sails for
Europe—
Sept. 3
Workers'
Organizing Committee, which is
seeking to unionize the steel industry, announced on Aug. 19
that its campaign in the future will be conducted
along
political lines, and that the Committee will support the re¬
ones
of
the
against whom the
was
Republican Presidential Nominee
Campaign Tour—Makes Brief Rear
Train
Talks
En
Route—Declares
Against
He Says Is not "Ameri¬
Way
can
of Doing Things"—To
Middlesex, Pa.
Speak today
at
Governor Landon of Kansas and Republican nominee for
on his Eastern campaign tour on
Aug. 20
when he left Estes Park, Colo, where he had been for a
brief rest.
Governor Landon boarded a special train at
President, started
La Salle, Colo., and during the trip East addressed
gather¬
ings at various points including Fort Morgan and Sterling,
Colo., North Platte, Lexington, and Grand Island, Neb., &c.
Three speeches which he has planned to deliver include
one
today (Aug. 22) at West Middlesex, Pa. (his birth place),
Chautauqua, N. Y. Aug. 24 and Buffalo, Aug. 26.
In
addressing the gathering at North Platte, Governor Landon
said, "I know that this is one of the fine agricultural counties
of Nebraska" and, according to the Omaha advices
to the
New York "Herald-Tribune" he continued in
part:
I know the part that the prices of livestock and of
farm products play
your prosperity.
Our problems in Kansas are very similar to
your
problems here in Nebraska.
our
We also
depend
on
wheat and livestock for
prosperity.
There
things
are
many
things that government should do.
we want government to
do, but I think
we
There
want those
are
many
things done
without squandering our money.
Liberal Without Being
Steel
the
Landon
"Must Legislation" Which
in
We cannot, of course, help what those who are known to be
partisan say
or do.
It is unfortunate, indeed, that the controversy which exists
with¬
in the ranks of the American Federation of Labor has been
injected into
the political campaign.
'
I
department
affiliated with the C. I. O.
directed.
was
Eastern
on
West
patch in this morning's papers in which Bro. William Hutcheson, of the
carpenter's union, makes the statement "a vote for Roosevelt is
virtually
vote for the C. I. O."
your
was
division of his
one
Governor
dis¬
a
eration,
and millinery
union to be connected with the C.
I. O.
He also asked whether the cap and
millinery department would continue
in the C. I. O. if the hatters' section disassociated itself
from it.
one addressed to him by Arthur Marker, of the
Commercial Telegraphers' Union, in which the latter under
date of Aug. 14 said.:
somewhat
the
However, the Federation President asked the hatters' chief how it
plying to
am
only
oc¬
curred
I
that
among
Green, President of the American Federation of
who had previously indicated that the American
Federation of
Green, head of the hatters union, Mr.
cap
out
national union, headed by Max Zaritsky,
For this reason the entire union was not
William
Labor,
similar letter to Michael F.
pointed
a
Green
I believe
I
am
Spendrift
be liberal without
being a spendthrift.
glad to have this opportunity of
of Lincoln
a
man
can
talking to the progressive citizens
County for
a
few minutes.
Among the great issues in the cam¬
Entirely aside from the administrative
the question of
Congress abdicating its constitutional function
paign is that of good government.
features is
of consideration and debate of the
measures
We have
seen
pending before it.
in the
last three years more
important measures jammed
through Congress without any consideration
whatever—slapped together
in a hasty fashion.
Regardless of whether we agree with the objectives
of those measures,
I think
we
all of us,
Independents, Republicans, and
Financial
1170
That
we
His remarks at other
points were along
World Court,
the
do not want any more
has taken
he
The other
in other political matters.
resolution said, in part:
similar lines.
the States
to
Royalists"
"Economic
caused fear and uncertainty to American
business, Colonel Frank Knox, Republican nominee for the
The New Deal has
asserted in a speech at Hagerstown, Md.,
Colonel Knox said that without restrictive
legislation American business enterprise would "burst into
a
vigor never known before."
He criticized President
Vice Presidency,
19.
Aug.
on
"economic royalists" in his
Philadelphia, and said that the nearest
approach to economic royalists in the United States was
"the bureaucracy of the NRA." Many in his audience were
members of the United Retail Merchants Association of
Maryland, West Virginia, Virginia and Southern Pennsyl¬
vania.
Colonel Knox pointed out that there are 1,500,000
retail stores in this country, and that the average number
of employees is two.
"If the retail business of this country
is run by economic royalists," he declared, "there are a
million and a half of them.
You cannot be very much of a
king when you boss just two people."
A dispatch from
Hagerstown to the New York "Times" gave further extracts
for
Roosevelt
using the term
acceptance speech at
declared,
was
be learned from
to
whatsoever, all the acts of our Presi¬
dent and great leader, Father Charles E. Coughlin.
Specifically, yet without thought of limitation, do we express our appre¬
ciation for the years of instruction which he has given us and for his
mind, his heart and his will which has taught us to know, to love and
social justice.
commend his unique revelation of philosophical thought
upon which our program is based.
Formally do we commend, likewise, his
reduction of that philosophy to those concrete maxims known as the 16
to
"It is the lesson," he
in
The nominee
was
regulation,
half retailers know
than one bureaucrat
It is the lesson that not even a
continued, "that a million and a
that
a
general.
coming."
function of the government
but not regulation aimed "at the control and direction of
American tradition as
door, the World Court.
(4) In his defense of the Nye Committee and on behalf of a sound
neutrality policy, we recall his successful efforts in curbing the activities
ignore
and social change in our time there
asserted, "but, whatever form
be within the framework of the Constitution."
for simplicity in government, Colonel Knox said that it meant
tides of economic
"With the great
Appealing
Federal regulation," he
evil, but taxation to support
"Above all,"
conditions.
be
his noble efforts
ever
that the
the total they would
the cost of government
in the United States,
of the entire income
of all the people.
expense on
of
this
national income will mean
that in the end
the
in
one-half the people
(11) We commend the great efforts made to keep our Nation neutral
the recent economic war waged on the one hand by 50-odd nations of
the
the other half as well. It cannot continue.
government insolvency or to currency inflation or to
point where the very majesty
League against
tributed
of
lone enemy, Italy, a friendly nation, which has con¬
to the material and spiritual upbuilding
a
much of her manhood
so
country.
our
"Governmental extravagance
them feed upon
leads to bureacracy and bureaucracy
Each one feeds upon the other,
the people.
leads to
behalf
and both of
*
•
of
P.
Nye,
Martin
Condemning
New Deal and
Coughlin—Delegates Support
dacy of William Lemke
Resolutions
Resolutions
Endorsing Father
Justice Adopts
criticizing President
Presidential Candi¬
Roosevelt for "usurpa¬
powers," and endorsing the principles of the Rev.
Charles E. Coughlin, were adopted on Aug. 15 by delegates
to the convention of the National Union for Social Justice
which met at Cleveland.
The assembly also voted, by 8,153
1, to support the third party candidacies of Representa¬
Lemke and Thomas C. O'Brien, but refused to
terms
the Union party and its platform.
Speakers at the
in addition to Father Coughlin, included Dr.
E. Townsend and the Rev. Gerald L. K. Smith of
great efforts
leader's
our
Frazier-Lemke
the
tactics
mittee of
trick
the
of
John
one
of
House
the
gag
Honorable
the
on
behalf of the refinanc¬
147
most
commend
members
final
the
O'Connor,
and
with him in
from
House
his associates, irrespective of
exercising
consideration
a
even
condemn in most certain
Chairman of the Rules Com¬
We
every
of this
parliamentary
salutary
most
•.
(14) We
those
J.
Representatives,
affiliation, who joined
to
bill.
Refinancing
legislation.
favorably
the
of
the
of
passage
the
to
favorable
the
to
of
House
consideration
electorate
and
those Senators
the
electorate
who voted
Representatives
Frazier-Lemke bill,
of
we
who
"yea"
likewise
voted
on
commend
"yea"
on
the
endorsement
of
the
Nye-Sweeney bill.
tive William
approve
and
Dakota,
Congressman from Ohio.
of the farm mortgages of America through proposed legislation known
the
as
party
tions of
to
ing
North
from
Senator
States
Sweeney,
(13) We commend
National Union for Social
a
the central bank bill, the Honorable Gerald
the sponsors of
to
United
L.
of
establishment
the
mendations
\
'
the position taken by our leader on the
central bank, and we extend our com¬
(12) We unreservedly support
communism.
governmental extravagance.
of the State was degraded.
to
supporting themselves and
It leads inevitably to
domination by wealth
exploitation of the people was a perfect example of
national and
Last year it
of governmental
progressive encroachment
just and living
willing to work and capable of working.
(10) We endorse the stand of Father Coughlin in respect to the en¬
trenched interests of the public utility holding companies, whose ruthless
annual wage payable to every man
one-fourth.
continuation
brain.
industrialist's
the
(9) We unreservedly commend our leader's efforts for a
from the poor to
of the people.
local, was one-seventh
even
wages,
of
keep it.
build a community
poultry house in New Jersey, the expenditure is not justified by this test.
Nowadays three-fifths of all Federal taxes come from taxes on the working
"Six years ago
of public works we recall
amend¬
of that system
behalf of the passage of the so-called McCarran
on
extend to the workers on relief the prevailing rate
as* the Act as drafted would extend to the manufacturer
the prevailing market price of materials.
(8) We endorse our leader's stand with respect to labor, to the .right
of labor to organize and bargain collectively through representatives of
its own choosing, unhampered by the camouflage "company union," child
of
justified until it can be shown
government takes taxes
"When
pauperizing dole
public works be
"
.
would
which
ment,
who provides most of the
must be confident that his little savings
will not be wiped out by governmental action.
"We hear much discussion of the usefulness of various public expenditures.
capital which supports industry
public expenditure is
"
(7) With the inauguration
government waste, extravagances
governmental project is worth more to the people than
have got with the money if they had been allowed to
(6) We recall likewise our leader's insistence that the
abolished and in its place a system of permanent
established.
evil."
he continued, "the plain man
should appreciate his expose of banking
(5) Every depositor in the land
better laws—that the
experiment is an unncecssary
of murder."
the "merchandisers
of
people can understand," and that the
Federal Government should leave individuals alone.
As for economy in government, he said that taxes must be raised to meet
the increasing activities of government.
"Taxation properly imposed is a
"fewer and
will be
our
League through its back
-
will be new forms of
"A
position who would compromise our very
in high
those
of
it takes, it must
was
and against the wiles
sovereignty and
they would force our Nation into the
the intrigues of the foreigner
high learning, against
securities.
masses
'
praise his patriotic efforts as he pitted the gifts
gave him against the Resources of the Carnegie Foundation, of the
internationalists in general; against the paid propaganda of some seats of
(3) Specifically, do we
should have as its objectives fair play for all enter¬
prises, equalization of the conditions of competition, protection for bank
depositors, regulation of monopolies and protection for the purchasers of
No
they
reward
God
Regulation, he said,
or
alike his denounce¬
efforts in behalf of our beloved veterans to the end
secure adjusted compensation, if compensation can be figured, as
to
those who offered their very lives on the altar of their
patriotism.
when a drought is
suggested that the primary
private enterprise."
necessary
...
(2) We praise his
*»
mercantile business of the country
Washington or even an army
brain truster can tell
justice.
communism
of
ment
field of positive legislation we endorse
and of modern capitalism.
the
(1) In
Wash¬
"■
better how to run the
the cause of
serve
Formally do we
Colonel Knox
of this country cannot be run from
"that the business
ington."
for Social Justice
affairs of the National Union
without any exception
endorse,
we
principles of social
New Deal experiments,
part:
conduct of the
the
in
commending the acts of Father
of the resolution
That part
Coughlin said in
from the address as follows:
The lesson
,
growing disregard for our framework of gov¬
by the active political intrusion on the part
of the executive into the nomination of candidates for the legislative branch
of gpvernment, in the unofficial nomination of Governors of two of the
several States; yes," even the intrusion by the executive into the affairs
of municipalities and local government.
Against such usurpation, of powers clearly vested in the legislative
branch of the Federal government or reserved by the constitution to the
States and to the people we protest most vigorously, as we reaffirm our
faith in that fixed fundamental and! supreme law of the land, the Con¬
stitution, under which every objective of our National Union for Social
Justice is either already provided for or needs only statutory enactment
by the Congress of the United States.
.
Finally, we protest that
ernment which is witnessed
Knox Says Fear of New Deal Impedes Business
Recovery—Republican Vice-Presidential Candidate
Attacks Term
,
the Con¬
the form
executive
asked of
further usurpation of powers reserved by
and to the people and later evident in
of corporations, chartered under Delaware acts, sponsored by the
branch
of the national government, without even a consent
that
protest
We
stitution
Congress.
Col.
Nations and
the position
bankers," against the League of
and unreservedly supported
"international
American way of doing things.
"must legislation "
We want a Congress that will fulfill its constitutional function of con¬
sideration and of debate.
That is the way we do things in America; debate
which educates the country, and allows the citizens in turn to educate
Congress. And the best way to insure a Congress which will once more
function in the American way is to elect a Republican Congress.
that is not the
Democrats alike, can agree
1936
22,
Aug.
Chronicle
(15) We
publish
monetary principles
convention,
forces
Francis
of
an
so
unreserved
and
ably defended
unqualified
over
the radio against the regimented
press.
Louisiana.
The
resolutions adopted
by the convention
affirmed the
delegates' faith in the Constitution, and charged that under
the New Deal attempts have been made to usurp the powers
and
inteference by the President in matters of State and local
government.
They protested that the constitutional pro¬
visions giving Congress the right to coin money and regu¬
of Congress
late the
we
uninformed
our
addresses
activities
has thrown
and
in
statements
his
into
of
our
support and in
the
battle
leader,
support
every ounce
pledging
of
our
16
our
resources
principles
even
of his endurance.
by means of "must" legislation, patronage
currency
stitutionality
had been violated, and attacked the con¬
of the
Federal Reserve Act.
Frazier Jelke Returns from Europe
Impressed with the almost complete absence of unempi
ment in most
European countries,, which he attribu
The resolution
vr
endorsing
an
(16) Finally, lest specification detract from the fulness of our sanction,
publish our unreserved and unqualified endorsements of all public acts!
radio
h?
bankers, financial writers, paid propagandists and
Father
Coughlin praised
his
fight against the
iVu§:? rearmament programs, Frazier Jelke, b
of theNew York Stock
Exchange firm of Frazier Jelke & (
and
as
Volume
returned
Financial
143
Aug. 20 on the Conte di Savoia after three
months in Europe, where he visited the capitals of Germany,
Russia, Finland, Denmark, Sweden, Holland and England,
and spent the final two weeks in southern France, close to
the scene of the Spanish revolution.
In his comments with
on
his return he said in part:
"I return with the conviction that the United States,
this time, and for many
*
at
affords the world's
safest and most profitable
working place for capital. Europe's
present prosperity is based largely on production for destruc¬
tion, prompted not only by old nationalistic jealousies but
also by the newer and
perhaps more fundamental clash
years to come,
Chronicle
ness,
people.
must
able
From Abroad of Secretary Roper and
A. Julian, Treasurer of United States
William
to
from
the
United
returned from abroad
the steamer
on
middle
the
since
States
of
July,
Washington arriving
at New York
Aug. 20.
Mr. Roper is quoted as saying "there
signs of material progress in England, but the fear
of war hangs over the
country along with other European
nations."
William A.
Julian, Treasurer of the United
States, who sailed with Secretary Roper in July, returned
are
the
banker
people
services
his
make
of
operations and policies more understand¬
community?
his
How
better
can
broader
and
be
the
earnest
together
members
of
With
this
attention
and
a
our
these
lines
thoughts
the
of
the
bankers.
of
make
annual
of
the
contacts
most
a
their
us
this
to
is
fresh
a
advice
American
as
council
counseling
the
among
bankers
from
all
investment
of
their
among
that
American
I
can
crucial
are
passing
and
mutual
we
Bankers
I
can
well
the
Association
be with
to
as
as
of
parts
from
advice.
the most
cooperation
their plans
discussions,
program
speakers
others.
Nation's bankers.
the
the reports and! the
valuable
before,,
never
and
of
one
and
members and
our
convention
councils
mind
banking,
to shape
so
of
the
our
viewpoints
my
membership of the
endeavor
common
addresses,
of
the
urge
every
for
and
built
have
calling into
give
that
through a period demanding,
exchange of viewpoint among
to
call
experience
we
also
to
evolution
therefore
They
of
mind,
in
view
business
without reservation
in
all
interchange
profession.
with
year
various
of
new
as
the
in this
us
that
them
assure
interchange
country, will constitute
time.
many
♦
T.
Clifford
Rodman
Elected
T. Clifford Rodman was elected to membership on the
Governing Committee of the Chicago Stock Exchange on
Aug. 12 to fill the vacancy caused by the resignation of
R. Arthur Wood.
In
accepting Mr. Wood's resignation, the
Governing Committee adopted
resolution expressing regret
his withdrawal from the committee and recording the
appreciation
resolution
Committee
and
esteem
said:
Arthur
Wood
of
the
period
greatest
has
of
the
In
Exchange.
the
part,
\
been
Chicago
and
Committee, Mr.
deal in
great
of
a
TRUST
COMPANIES,
for
8%
years
member
a
Stock Exchange and
1927
to
1931,
development
when
of
its
its
was
the Governing
of
President for the
Exchange
the
history
under
attained
City Bank
been authorized by
Wood stated that he expected to
be
endeavor to rebuild his physical
an
the best
Comptroller of the Currency.
•
An application for
permission to open a branch at 10 Irving
Place, Manhattan Borough, has been filed by the National
City Safe Deposit Co. of New York City by the New York
State Banking Department,
conditional upon the discon¬
tinuance of the office heretofore authorized to be maintained
135 East 14th
at
Street, in the
borough.
same
After
July 1, 1937 the so-called "double liability" on the
present outstanding shares of common stock of Manufac¬
turers Trust Co. of New York will be
terminated, the Com¬
and
since
his recent serious
Chicago
from
away
having published the notice of termination required
by law.
The institution's announcement says:
pany
Notice of such character is not required on the bank's convertible pre¬
the
capable
his
a
&c.
branch of the National
"
from
growth
a
untiring leadership; during the recent period of great business uncertainty
he gave unstintingly of his time and
energy to the many problems con¬
fronting the Exchange.
In tendering his resignation to the Governing
been
BANKS,
Governing Committee
to
Chicago Stock Exchange to Succeed R. Arthur
Wood, Resigned
four-year
ABOUT
The establishment of
the
*—
of
R.
ITEMS
of New York at 7 West 51st Street has
with him.
at
business services to all our
the public need and understand
helpful personal
more
soundly provided?
How can banking improve its
operating methods and income?
These and many similar questions demand
I
Secretary of Commerce Daniel C. Roper, who had been
absent
of
one
the
can
financial
years
Return
1171
as
Sound banking conducted in ways
the aim of successful bank management.
be
How
6ay
between Fascism and Communism."
well
as
ferred stock, which was issued in July of this year, as under the law author¬
izing banks and trust companies in NewlYork State to issue such stock,
holders of
preferred
subject to the additional assessment.
are not
Where any of the preferred stock is converted into common,
be
such
liability does not apply
condition, which has not
there will
additional liability on the common stock received in conversion, as
no
on
stock originally issued after June 1, 1936.
»
illness.
The
Ninetieth
Anniversary
of
Smithsonian
Institution
Greetings by President Roosevelt
Occasion of
With
the ninetieth
anniversary of the Smithsonian Insti¬
Washington, on Aug. 10, President Roosevelt sent
message of congratulation to its Secretary, Dr. Charles
A. Abbot, in which he said:
tution of
a
Next
Monday
Act
an
allow
of
this
fied
his
of
the
hopes
knowledge
under
among
wise
your
by
and
you,
appreciation
of
I
cannot
through
the
you,
which
work
through nine decades has abundantly justi¬
its founder, James Smithson, who in
expectations of
for
"an
men."
estiblishment
It
is
a
administration
predecessors
your
Institution.
assuring
sincere
my
anniversary of the approval of
Smithsonian
doing.
and
provided
the
without
pass
Smithsonian Institution
will
set
are
is the ninetieth
to
associates,
and they
The
10]
establishing
anniversary
devoted
your
you
[Aug.
Congress
for
source
great
Secretary
as
increase
the
of
and
diffusion
satisfaction
high
the
to
Washington "Post"
Secretary of the Interior
of
Aug.
Ickes
and
its present name adopted.
The officers are Dr. J. A.
Singer, Chairman of the Board; Frank B. Michaels, Presi¬
dent and
Trust Officer; C. M. Metzgar, Vice-President;
S. F. Shiffer, Treasurer; C. H. Wetterau, Assistant Treas¬
urer; Harry M. Schocli, Secretary, and Miss Leila Bunnell,'
Assistant Trust Officer.
of
of
work
being maintained.
are
The
business as the Security Trust Co. in August, 1909, with a
capital of $125,000.
Today it is capitalized at $550,000 and
has deposits in excess of $3,000,000.
On Jan. 10, 1933, the
Stroudsburg Trust Co. was consolidated with the institution
♦——
According to Associated Press advices from Wilmington,
on Aug. 20, the Board of Directors of the Equitable
that
me
standards
Security-Stroudsburg Trust Co., Stroudsburg, Pa.,
recently celebrated the twenty-seventh anniversary of its
founding, we learn from Stroudsburg advices appearing in
"Money and Commerce" of Aug. 15.
The institution began
Del.,
Trust Co.
10
had
also
also
reported
sent
that
similar
a
in which he stated that "it is with both pleasure
pride as a member of the Smithsonian that I congratu¬
of
mond, Va.,
message
1, 1937.
institution
Stephenson,
and
late the
institution
its
on
ninetieth
birthday and wish it
a
able
Wilmington elected James W. Allison of Rich¬
Vice-President in charge of the trust depart¬
a
of the
ment
whose
Mr. Allison will
Trust Co.
that
on
resignation
Oct. 2, the dispatch
on
Members
Annual
at
B.
A.
Urges Attendance
Convention
at
San
21-24—Emphasizes Importance of
and Mutual
Exchange of Viewpoint
Coopera¬
Emphasizing the importance of "cooperation and
mutual
exchange of viewpoint among bankers and others," Robert
V. Fleming, President of the American Bankers
Association,
sent
a
communication,
Aug. 19, to all the members of the
on
organization urging their attendance at
tion, which will be held at San
its
ing has
that
gone
far
along
and services.
the
road
of
"Although bank¬
recovery,
one
of
its
problems still is to develop
will in
its operations on lines
themselves create greater public
understanding
of its methods and
services," Mr. Fleming said.
He added:
It is my earnest conviction
that such public
understanding of banking
is not
only an essential defense against attacks from
but
is
basis
of
also
whatever
requisite
profitable
controlling factors in
the Ameiican
The
of
for
reestablishing
These
plans for
our
Bankers Association,
improvement
should, be
program
to
operations.
material
in
general
aid
to
the
upon
a
firm
and
have
been
sixty-second annual
to be held in
conditions
bankers, in
increasingly useful
it
considerations
San
which
carrying
amon°-
convention
Francisco, Sept.
is
now
forward
relationships between
source
satisfactory
taking
a
the
of
21-24
the
stated.
Chevy
checks
This
will
available
are
for
4,970
bring
to
depositors
who
$678,000.
The
'
through the
of
stockholders
for
necessary
Paul
Sleman,
of
the
former
representing
pletion of the 100% payment
Treasury
bank,
who
supplied
the
coopera¬
remainder
of
payment.
trustee
Department
was
officials,
the
bank's
stockholders,
said
com¬
due to the "splendid cooperation between
Mr.
Hardee,
the
depositors
and
stock¬
holders."
"Shortly after the bank closed in March,
Riggs National Bank purchased sufficient
the
building,
enable
to
the
payment
of
a
4
1933," Mr.
assets
60%
of
Sleman said,
the bank,
dividend
"the
including
depositors."
to
.
The
Washington "Post" of Aug. 11 carried the
following
to the affairs of the closed
Federal-American
National Bank & Trust Co. of
Washington, D. C.:
in
regard
Depositors of the
will receive
ration
the
is
total
a
defunct
Federal-American
National
Bank
&
Trust
Co.
additional
$1,100,000 if the Reconstruction Finance
Corpo¬
willing, it was learned yesterday.
This will amount to 13% of
deposits.
Depositors already have been paid
50%.
The RFC
for
an
loan
holds
of
all remaining assets of
the Federal-American
$900,000.
The loan agreement stated that
no
as
security
further
dends^ would be paid depositors
This additional
ment
with
ment
of
total
assessments
busi¬
that
on
total payments
present 20% dividend amounts to $135,204.96.
Mr.
Hardee said the dividend was made
possible
place
and
defunct
claims.
constructive
banking
made
was
announced
filed
funds
public
of
was
conven¬
The convention
program,
into
"our councils speakers from various lines
of business to
give
us their
viewpoints and advice," and the plans for the con¬
vention discussions take into
consideration the fact that
one of the major
problems of banking today is to
develop
its operations
along lines that will create greater
major
It
have
tion
annual
Francisco, Sept. 21-24.
Mr. Fleming said, will call
understanding of its methods
Jan.
the Equit¬
August 15 by Cary A. Hardee,
Chase Savings Bank of
Chevy Chase, Md, that a final dividend of 20% would be
distributed to the depositors,
beginning Aug. 17. The Wash¬
ington "Post" of Aug. 16, from which this is learned,
sup¬
plied further details as follows:
receiver
of
Francisco
Sept.
tion
Gilbert T.
effective
♦
Announcement
Fleming of A.
become
his duties with
assume
continued long and brilliant career."
President
day to succeed
will
one
of
$140,000
sum
the
was
paid
released
for
depositors
large stockholders
levied*
on
by
divi¬
without its consent.
not
stockholders.
stockholders
to
The
and
following
contest
a
recent agree¬
further
an
assess¬
$1,100,000 represents the
was
held
in
trust
by
the
Financial
1172
Supreme Court has
broke into new
♦
control of the Union Bank & Sav¬
ings Co. of Bellevue, Ohio, by Bellevue citizens from Bruce
B. Brady of Cleveland and his associates, Frank A. Knapp
of Bellevue was elected Chairman of the Board of Directors
and Dr. H. Iv. Shumaker, heretofore a Vice-President, was
advanced to the presidency, it is learned from a dispatch
from that place appearing in "Money and Commerce" of
Aug. 15.
The other officers are Allan G. Aigler, Vice-Presi¬
dent and Attorney;
O. C. Kaufman, Cashier; B. Wright,
Assistant Cashier, and R R. Parkhurst, Attorney.
Following purchase of
♦
for many years Cashier of the
Huron-County Banking Co. of Nonvalk, Ohio, was elected
President of the institution at a recent meeting of the
C.
Worthington
Pratt,
learned from Norwalk advices
it is
directors,
15.
and Commerce" of Aug.
the late Benjamin B. Wood.
"Money
printed in
Pratt succeeds
Mr.
amounting
to more
than $850,000 to the de¬
positors and creditors of two closed Chicago, 111., banks—the
Cosmopolitan State Bank, and the West Irving State Bank—
have been authorized by the State Auditor of Public Ac¬
it
counts,
was
"News"
Chicago
Aug. 12, according to
We quote the paper:
announced on
of that date.
the
depositors of the Cosmo¬
politan, or the equivalent of 40% of claims.
Depositors with claims of
less than $50 will
be paid in full under a waiver plan.
Checks were
available today (Aug. 12) at the Cosmopolitan National Bank, 801 North
$750,000
Approximately
this will
of
to
go
Street.
Clark
during the early trading, but
turned easier following the
of the "big board."
Pepperell Manufac¬
firm
numerous
were
spots
around midsession the market
downward
turn
turing Co. continued its record breaking advance and moved
up to 92 ii, at its top for the day, but dropped back to 91 }4
and closed with a net gain of 434 points. * Since the closing
hour on Friday this stock has gained about 9 points, the
being due largely to the very satisfactory
improvement
earnings report for the year ended June 3Q.
Other note¬
worthy advances were Bulova Watch conv. pref., 334 points
to
74J4, and
7114; Georgia Power $5 pref., 5% points to
points to 146.
Penn Salt, 8
Pepperell Manufacturing Co. continued as the outstanding
trading on Tuesday as it boosted its top 434
points into new high ground for the year at 9524, making
a
gain of approximately 26 points since the first of the
month.
Public utilities held fairly firm and a number of
small advances were on record as the market closed.
Indus¬
trials were in demand at slightly higher prices during the
feature of the
«
Payments
pref. and Appalachian Electric Power likewise
high ground.
Todd Shipyard was in sharp
demand at higher prices and Perfect Circle closed at 35 p2
with a net gain of 2J4 points.
*
v
Prices were irregularly lower on Monday, though most
of the changes were confined to small fractions.
There
(7)
Power
The District
Hardee, pending decision by the courts.
decided the assessment waa justified.
A.
Cary
receiver,
22, 1936
Aug.
Chronicle
.
Shoe pref. moved up 2 points to 18; Mangel Stores pref.,
234 points to 5834; American Gas & Electric, 134 points to
4434, and Aluminum Co. of America, 1 point to 131.
The
total transfers were 167,995 against 171,625 on the pre¬
Irving State will receive $98,020.
bursement, made possible by the sale of the remaining assets to
ceding day.
waiving of a portion of
of the larger claimants, will make possible payment in full in most cases.
Stockholders and depositors waiving a part of their claims will receive
prices
were
made
comparatively
Depositors
of
stock
the
in
West
the
corporation
ing
This dis¬
a liquidat¬
deposits by a number
early trading but slipped downward as the day progressed.
Doehler Die Casting gained 134 points to 3434; Douglas
the
and
corporation.
liquidating
distribution
The
is
expected
to
(Aug. 13).
begin tomorrow
«
Co.,
The American Bank & Trust
a new
Miami, Fla., bank¬
ing institution, was incorporated in Tallahasse on Aug. 11
$200,000, it is learned from Tallahassee ad¬
with capital of
by the Associated Press on that date, which reported
the officers as follows:
Leo Robinson, President; R. H.
vices
Cashier
Vice-President,
Daniel,
Secretary,
and
and
J.
T.
Carter, Treasurer.
Curb
transactions
market
quiet
extremely
were
and
generally irregular on Wednesday.
There were
a
few stocks scattered through the various groups that
showed an inclination to advance, but the list as a whole
little
progress.
Pepperell Manufac¬
turing Co. did not hold up and was off about 234 points on
the day and Commonwealth Edison attracted some buying
at higher prices.
Among the best gains were Aluminum
Co. of America, 2 points to 131; Mangel Stores pref., 534
points to 64; Western Auto Supply A, 234 points to 5434;
Colts Pat. Fire Arms (134)> 1^4 points to 5134; Cooper
Bessemer, 134 points to 1834, and Dow Chemical, 1 point
to 117.
«
The following
changes in
& Trust Co.
Bank
the
personnel of the
Mantana
Great
of
Falls, Mont., were reported in
the "Commercial West" of Aug. 15:
Fred A. Woehner has
been elected President of the institution to succeed Dr. E. M.
Larson,
C.
resigned;
J.
Thronson,
heretofore
Assistant
Cashier, has been advanced to the Cashiership, while Louis
Fousek
A.
Mr.
has
been
elected
Assistant
Thronson.
Cashier
in
lieu
of
The tone of the market
moderately firm during the
was
early dealings on Thursday, but prices were inclined to sag
as the day progressed.
Trading was dull, and while there
were a
few scattered stocks that
registered substantial gains,
whole, was inclined to move irregularly down¬
ward.
Pepperell Manufacturing Co. resumed its advance
and hit 94 and then declined to 92.
Cooper Bessemer pref.
the list, as a
new high ground for the year as it crossed 49
Safety Car Heating & Lighting climbed up 6 34 points
to 100.
Other noteworthy gains were General Investment
Corp. pref., 234 points to 6014; Singer Manufacturing Co.,
2 points to 332; Western Auto Supply A, 234 points to 5434.
and Peninsular Tel. pref., 3 points to 11014.
The trend of prices turned sharply downward on Friday
A broke into
*
and
Frederick R. Behrends
and
dent
Trust
Angeles, Calif.
"Times"
Vice-Presi¬
as
Trust
Co.
of
Los
In noting his resignation, the Los Angeles
of Aug.
11 went
Behrends will
Mr.
Aug. 10 resigned
on
Officer, of the California
to say:
on
his future
announce
plans following his return from
a
trip to the North early in September.
and while
,
.Serving
Bankers
field
twice
Chairman
as
Association,
Mr.
the
Trust
has
of
Behrends
also
Section
been
through the trust division of the American
membership
ing
its
on
Executive,
Educational
the
of
active
in
California
the
national
Bankers Association,
hold¬
Policies
Com¬
and
Trust
mittees.
Promotion of H. S. Davidson to the position of Assistant
Manager of the Santa Monica office of the California Bank
of
Los
H.
W.
Angeles,
Calif.,
Thomson,
announced
was
Executive
on
Vice-President
of
Aug.
the
i3
by
institu¬
tion, it is learned from the Los Angeles "Times" of Aug. 14.
Mr.
Davidson
succeeds
J.
W.
Mahood,
-4
We
L.
L.
San
learn
from
the
deceased.
.
"Commercial
West"
of Aug.
15 that'
Madlan, formerly stationed in Minneapolis, later at
Francisco
chief
as
national
bank
examiner
for
the
Twelfth
Reserve District, resigned effective Aug 17 to take
over
executive
an
Bank
He
been
of
was
Seattle,
in
stationed
connected
position
Wash.
San
the
with
THE
with
the
The paper
Francisco
Comptroller's
three
Seattle-First
National
added:
and
department
a
half
since
years
and
had
1919.
dwindled to 85,200 shares,
there
were
a
number
outstanding advances in evidence as the market closed.
Pepperell Manufacturing Co. continued to move forward
and raised its top to a new peak for the year at 87.
Nebraska
Co.
of
few active issues that
showed slight
apparent in every section of
America
the market.
was
CURB EXCHANGE
EXCHANGE
preferred issues, attracted some attention and there was a
moderate amount of buying among the specialties, but the
changes, with a few outstanding exceptions, were small
and without special significance.
Pepperell Manufacturing
Co. was very active during the fore part of the week and
raised its top to a new peak for the year.
Record highs for
the year were also attained by several trading favorites in
the utility group, but the continued irregularity held most
of the general list down to minor changes.
Stocks moved within a comparatively narrow range during
the short period of trading on Saturday, and while the
of
were a
were
particularly weak and
receded 10 points to 123; American Superpower pref. fell
back 334 points to 43; Humble Oil, 234 points to 6534;
Pepperell Manufacturing Co., 7 points to 85; Singer Manu¬
facturing Co. (6 A), 4 points to 328, and Ther moid Conv. pref.,
5 points to 65.
As compared with Friday of last week, the
range of prices was sharply lower, Aluminum Co. of America
closing last night at 123 against 13034 on Friday a week ago,
American Cyanamid B at 33 against 3534; American Gas &
Electric at 4334 against 4534; American Laundry Machine
at 25 against 26; American Light & Traction at 2234 against
2334; Atlas Corporation at 1334 against 1434; Creole Pettroleum at 2034 against 2134; Electric Bond & Share at 21
against 22 34; Gulf Oil of Pennsylvania at 83*4 against 88;
Hollinger Consolidated Gold Mines at 14 against 1434;
Hudson Bay Mining & Smelting at 2334 against 2534;
Humble Oil (New) at 6534 against 6634; Niagara Hudson
Power at 15 against 16, and Sherwin Williams Co. at 132
against 135.
Aluminum
DAILY TRANSACTIONS AT THE NEW YORK
CURB
Quiet trading and irregular price movements charac¬
terized the dealings on the New York Curb Exchange during
most of the present week.
Public utilities, particularly the
transfers
tfyere
gains, declines
Stocks
•
Bonds (Par Value)
(Number
Week Ended
Aug. 21 1936
Foreign
Foreign
of
Shares)
Domestic
Government
Total
Corporate
Monday
170,725
Tuesday
169,400
200,585
248,570
364,655
$775,000
1,232,000
1,560,000
1,732,000
1,852,000
2,231,000
23,000
28,000
22,000
8,000
14,000
$791,000
1,307,000
1,612,000
1,782,000
1,883,000
2,273,000
1,239,185
$9,382,000
$166,000
$100,000
$9,648,000
Saturday
85,250
Wednesday
Thursday
Friday
Total.
t
$2,000
48,000
37,000
28,000
$14,000
27,000
15,000
New York Curb
Exchange
Stocks—No. of shares.
1936
1935
1936
1935
1,239,185
2,565,170
87,816,326
38,179,768
$9,382,000
$20,642,000
228,000
$554,527,000
12,069,000
308,000
8,648,000
$784,603,000
10,886,000
8,319,000
$21,178,000
$575,244,000
$803,808,000
Bonds
Domestic
Foreign
government..
Foreign corporate.
Total
166,000
100,000
$9,648,000
,
Volume
Financial
143
Chronicle
1173
COMPLETE PUBLIC DEBT OF THE UNITED STATES
The statement of the public debt and Treasury cash hold¬
ings of the United States, as officially issued as of May 31,
1936, delayed in publication, has now been received, and as
The
interest attaches to the details of available cash and the gross
and net debt on that date, we append a summary thereof,
making comparison with the
AVAILABLE
CASH
TO
same
PAY
and
date in 1935:
MATURING
extensive
Department
are
merchants
facilities
of
available
to
Foreign
our
manufacturers
engaged in foreign trade.
MANUFACTURERS TRUST COMPANY
OBLIGATIONS
HEAD OFFICE AND FOREIGN DEPARTMENT:
May 31, 1935
May 31, 1936
$
Balance end of month by dally statements, &c
2,358,422,241
Add or Deduct—Excess or deficiency of receipts over
or under disbursements on belated Items..-.
—26,611,532
55 BROAD STREET, NEW YORK
$
1,956,836,254
»,
Member Federal Reserve System
Member New York Clearing House Association
—861,966
Member Federal Deposit Insurance Corporation
2,331,810,709
1,955,974,288
25,021,262
513,689,635
3,702,710
1,515,080
25,901,818
611,405,203
3,824,030
4,284,085
543,928,687
645,415,116
Deduct outstanding obligations:
Matured interest obligations
Disbursing officers' checks
Discount accrued
Settlement
War
on
Savings Certificates
checks
on warrant
Total
FOREIGN
EXCHANGE
RATES
Pursuant to the requirements of Section 522 of the Tariff
Act of 1930, the Federal Reserve Bank is now certifying
daily to the Secretary of the Treasury the buying rate for
cable transfers in the different countries of the world.
Balance, deficit (—)
or
surplus (+)
+ 1787882,022 + 1,310,559,172
INTEREST-BEARING DEBT OUTSTANDING
Interest May
Title of Loan—
Payable
give below
FOREIGN
May 31, 1935
31, 1936
EXCHANGE
AUG.
Q.-J.
Q.-F.
48 ,954,180
2s of 1918-1938
Q.-F.
25 ,947,400
15,
3s of 1961
Q.-M.
-
3s convertible bonds of 1946-1947
49,800,000
28,894,500
258,332,000
Q.-J.
Certificates of indebtedness
28
4s First
J.-D.
2 ,399,150
4J^s First Liberty Loan, converted 1932-1947..J.-D.
159 ,925,300
4^8
First Liberty Loan, 2d conv., 1932-1947.-J.-D.
43^8 Fourth Liberty Loan of 1933-1938
4J4s Treasury bonds of 1947-1952
J.-D.
Treasury bonds of 1946-1956
M.-S.
,
Treasury bonds of 1943-1947
J.-D.
Treasury bonds of 1940-1943
J.-D.
Treasury bonds of 1941-1943
Treasury bonds of 1946-1949
3s Treasury bonds of 1951-1955
334s Treasury bonds of 1941
M.-S.
J.-D.
M.-S.
F.-A
43^8-33^8 Treasury bonds of 1943-1945
33*8 Treasury bonds of 1944-46
A.-O.
3s Treasury bonds of 1946-1948
J.-D.
33*8 Treasury bonds of 1949-1952
23*8 Treasury bonds of 1955-1960
J.-D.
A.-O.
758,955,800
1,036,762,000
489,087,100
454,135,200
352,993,950
544,914,050
818,646,000
755,476,000
834,474,100
1,400,570,500
1,518,858,800
1,035,884,900
491,377,100
•
M.-S.
2,611,155,700
1,214,453,900
M.-S. 1,223,496,850
195,834,525
93,495,637
J.-J.
120,881,020
2%s Treasury bonds of 1945-1947
758
,955,800
1,036 ,762,000
489 ,087,100
454 ,135,200
352 ,993,950
544 ,914,050
818 ,646,000
755 ,477,000
834 ,474,100
1,400 ,570,500
1,518 ,858,800
824 ,507,900
491 ,377,100
2,275 ,141,700
M.-S.
23*8 Treasury bonds of 1948-1951
...
U. S. Savings bonds, series A
U. S. Savings bonds, series B
23*8 Postal Savings bonds
Treasury notes
Aggregate of interest-bearing debt-'
Bearing no interest
38,627,681
634,106,410
179,800,285
Total debt
Deduct Treasury surplus or add Treasury deficit
Net debt
Bulgaria, lev
Czecjoslo'kia,
832,766,107
68,521,190
-a31,636,394,777 28,63?,881,498
+ 1787882,022 + 1,310,559,172
OF
LIABILITIES
THE
UNITED
Amount
Detail—
Principal
STATES, MAY 31,
1936
of Contingent Liability—;
a
Interest
<
3% bonds of 1944-49-
— -
3M% bonds of 1944-64.
3% bonds of 1942-47
98,028,600.00
1J*% bonds of 1937
2%% bonds of 1942-47
1M% bonds of 1939
...
236,487,100.00
22,325,000.00
103,134,100.00
100,122,000.00
*1,422,182,400.00
81,393.23
863,163,207.00
98,692,335.31
239,147,579.87
22,406,393.23
701,168.64
371,285.75
5,555,669.80 1,427,738,069.80
Federal Housing Administration..
Home Owners' Loan
bl3.50
1,114,481,850.00
2&% bonds, series B, 1939-49 1,282,434,900.00
1M% bonds, series C, 1936....
49,736,000.00
lh% bonds, series D, 1937
49,843,000.00
2% bonds, series E, 1938
49,532,100.00
1}4% bonds, series F, 1939
325,254,750.00
2\i% bonds, series G, 1942-44:
157,423,550.00
.
I
Aug. 19
Aug. 20
$
$
$
Aug. 21
$
,188420*
.188350*
.188350*
.188416*
.188366*
.168503
.168571
.168696
.168711
.168730
.013000*
013000*
.013000*
.013000*
.013000*
.013000*
.041321
.041328
.041320
.041325
.041321
.224433
.224650
.224603
.224569
England, pound sterl'g 5.026708
Finland, markka
.022125
.025958
.027833
1.032000
.030250
».031375
.022087
.022134
.022143
.022162
France, franc
.065850
.065866
.065849
.065829
.065848
.065835
Germany,reichsmark.
Greece, drachma
.402271
.402271
.402238
.402257
.402300
.402235
.009381
.009381
.009383
.009383
.009391
.009391
Holland, guilder.-...
Hungary, pengo
Italy, lira
Norway, krone
Poland, zloty
Portugal, escudo
Rumania, leu
.679000
Spain, peseta
Sweden, krona
.325914
.022920*
koruna
.022134
.679135
.679171
.679167
.679171
.678975
.197875*
.197875*
.197725*
.197725*
.197725*
.197725*
.078652
.078642
.078645
.078661
.078682
.078661
.252533
.252416
.252595
.252795
.252808
.252696
.188166
045508
.188233
.188200
.188200
.188133
.188250
.045481
.045506
.045625
.045550
.045506
.007345*
.007300*
.007295*
.007291*
.007304*
.136500*
.259145
Yugoslavia, dinar
.136500*
.136500*
.136500*
.136500*
.135500*
.259041
.259187
.259445
.259415
.259342
.325939
.326007
.325962
.325928
.325901
.022940*
.022950*
.022927*
.022935*
.022930*
.007300*
Asia—
Chefoo
dol'r
.300416
.300500
.300833
.300666
.300608
Hankow (yuan) dol'r
Shanghai (yuan) dol
.300416
.300500
.300833
.300666
.300608
.300400
.300416
.300500
.300833
.300666
.300608
,300400
Tientsin (yuan) dol'r
,300416
.300500
.300833
.300666
.300608
.300400
.311983
.311508
.311641
(yuan)
Hongkong, dollar..
India, rupee.
Japan, yen
Singapore (S. S.) dol'r
13.50
2,808,808.09 1,117,290,658.09
11,759,840.46 1,294,194,740.46
217,595.00
49,953,595.00
254,406.98
50,097,406.98
288,937.25
49,821,037.25
7.69
325,254,757.69
1,476,004.12
158,899,554.12
*3,028,706,150.00 16,805.613.09 3,045,511,763.09
.311666
.300400
.311883
.311433
.379343
.379475
.379512
.379975
.379980
.379610
.294175
.294050
.294243
.294582
.294510
.294593
.589287
.589187
.589687
.589700
.589750
.589437
Australasia—
4.003125*4. 003875* 4.004187*4.009500*
.005500*4.008250*
Zealand, pound- 4.031562*4, 035781* 4.036718*4.040625*
.036875*4.057250*
Australia, pound.
New
Africa—
8outh Africa, pound.. 4.972708*4.972187*
4.971875\ 4.978958* 4.976875*4.977291*
North America—
Canada, dollar—
Cuba, peso
.999765
.999808
.999882
.999856
.999856
.999000
.999000
.999000
.999000
.999000
.999000
Mexico, peso
Newfoundland,
.277500
.277500
.277500
.277500
.277500
.277500
.997312
.997397
.997437
.997375
.997375
.997500
dollar
.999869
South America—
Chile, peso
Colombia,
Urueuay.
•
.334925*
.335040*
.335500*
.335475*
.335400*
.085133*
.084833*
.085100*
•085133*
.085133*
.085133*
.058000
.058000
.058375
.058375
.058666
.058500
.051733*
.051733*
.051733*
.051733*
.051733*
.051733*
.569000*
.569000*
.569000*
.569000*
.569000*
.569000
.796875*
.796875*
,796875*
.796875*
.796875*
.796875*
.334950*
milreis
(Free)
__
•-
peso
peso
Nominal rates: firm rates not available.
COURSE
OF
BANK
CLEARINGS
Bank clearings this week will show an increase compared
with a year ago.
Preliminary figures compiled by us, based
upon
Corporation:
4% bonds of 1933-51
3% bonds, series A, 1944-52
Aug. 18
.224287
103,835,268.64
100,493,285.75
2,660,479.87
$
.041318
.
1,077,607.00
663,735.31
York
168479
Brazil,(official) milreis
$
862,085,600.00
RESERVE
1930
188342*
Argentina, peso
Total
Guaranteed by the United States:
Federal Farm Mortgage Corp.:
OF
.224391
-
Total gross debt May
CONTINGENT
Aug. 17
$
Denmark, krone
101,943,340
b29,848,512,755 27,328,322,326
31, 1936, on the basis of daily Treasury statements, was
$31,636,443,115.88, and the net amount of public debt redemption and receipts
in transit, &c., was $48,339.00.
b No reduction Is made on account of obligations
of foreign Governments or other Investments,
c Includes amount of outstanding
bonds called for redemption on April 15 and Oct. 15, 1934, and April
15, 1935.
a
ACT
China—
30,822,488,082 27,737,594,201
-
Matured, interest ceased
FEDERAL
INCLUSIVE
Buying Hate for Cable Trans}em in Hew
Value in United States Money
Aug. 15
Europe—
Austria, schilling
Belgium, belga
12,381,008,450 10,470,881,750
2,153,000,000
1,953,242,000
Treasury bills....
1936,
Switzerland, franc
552,850
cl,354 ,072,000
A.-O.
A.-O.
3s Treasury bonds of 1944-1954
3^s
3%a
3Hb
3348
334s
189 ,928,800
BY
UNDER TARIFF
Unit
,894,500
156 ,800,000
J.-D.
Liberty Loan, converted 1932-1947
Noun
Country and Monetary
49 ,800,000
33^s First Liberty Loan, 1932-1947
CERTIFIED
1936, TO AUG. 21,
599 ,724,050
2s of 1916-1936
RATES
BANKS TO TREASURY
3
2s Consols of 1930
We
record for the week just passed:
a
telegraphic advices from the chief cities of the country,
today (Saturday, Aug. 22),
indicate that for the week ended
bank exchanges for all cities of the United States from which
it is possible to obtain weekly returns will be 2.2% above
those for the
total
stands
corresponding week last year. Our preliminary
at $5,031,199,998, against $4,921,152,988 for
the.same week in 1935.
week
ended
At this center there is
Friday of 9.6%.
a
loss for the
Our comparative
summary
for the week follows:
Reconstruction Finance Corp.:
3% notes, series G
2% notes, series H
16,000,000.00
86,403,000.00
149,211,666.67
1^% notes, series K
251,614,666.67
188,571.43
721,607.47
1,027,359.02
16,188,571.43
87,124,607.47
150,239,025.69
Clearings—Returns by Telegraph
1,937,537.92
c253,552,204.59
Chicago
Philadelphia..
Boston".
Kansas City..
Total, based upon guarantees..
4,726,802,037.48
San Francisco.
On Credit of the United Stales:
Secretary of Agriculture...
Pittsburgh
*
$2,424,695,912
193,808,469
79,879,460
+ 7.9
63,900,000
106,441,000
+ 21.8
Funds due depositors
—.1,215,902,090.70 28.379,053.45dl,244 281 144
74,414,917
59,401,807
50,044,983
39,834,285
27,288,000
+ 31.4
NewOr leans..
upon credit of the
United States
77,405,568
69,388,044
51,997,743
32,907,000
Baltimore
1,244,281,144.15
Twelve cities, five
days.
e3,781,526,927.00
*
Includes only bonds Issued and outstanding,
a After deducting amounts of
funds deposited with the Treasury to meet interest payments,
b Interest to July
1,
1935 on $3,901,550 face amount of bonds and interim receipts
outstanding which
were called for redemption July 1,
1935.
c Does not include
+ 20.8
+ 2.7
+ 16.1
+ 13.7
+ 30.3
+ 38.7
+ 30.5
+ 20.6
723,092,590
Other cities, five days
Other Obligations—
Federal Reserve notes (face amt.)
$3,469,574,074
t
—9.6
139,000,000
97,804,405
—
Cleveland
15
Ce
260,000,000
121,058,000
Detroit
Postal Savings System:
Total, based
St. Louis
1935
86,212,020
77,800,000
New York
Tennessee VaUey Authority-
Per
1936
$2,192,430,989
234,145,305
267,000,000
161,425,000
Week Ending Aug. 22
Total all cities, five days.
All cities, one day
Total all cities for week
$3,518,708,833
568,306,885
$4,192,666,664
838,533,334
$4,087,015,718
834,137,270
+ 2.6
$5,031,199,998
$4,921,152,988
+ 2.2
—1.4
+ 27.2
+ 0.5
$4,120,000,000 face
amount of notes and accrued interest
thereon, held by Treasury and reflected in the
of March 31, 1936^—figures as of May 31, 1936 not
assets,
Complete and exact details for the week covered by the
foregoing will appear in our issue of next week.
We cannot
furnish them today, inasmuch as the week ends
today
(Saturday) and the Saturday figures will not be available
until noon today.
Accordingly, in the above the last day
Issuing banks.
The collateral security for Federal Reserve notes Issued are (1) $4,032,523,000 in gold certificates and credits with the Treasurer of the United States
payable in gold certificates, (2) United States Government securities of a face value
In the elaborate detailed statement, however, which we
present further below, we are able to give final and complete
public debt,
d Figures
as
available.
Offset by cash in designated depository banks and accrued interest
amounting to $221,915,572.71 which is secured by the pledge of collateral as pro¬
vided in the Regulations of the Postal Savings System having a face
value of $230,-
864,522.60; cash In possession of System amounting to $119,862,150.91, and Gov¬
$895,956,830 held as investments, and other
e In actual circulation, exclusive of $13,059,978 redemption fund
deposited
in the Treasury and $254,626,355 of their own Federal Reserve notes held
by the
ernment securities with a face value of
of
$65,000,000, and (3) commercial paper of a face amount of $4,078,000.
of the week in all cases has to be estimated.
results
for
the
week
previous—-the week ended Aug.
15.
1174
Financial
Chronicle
1936
22,
Aug.
For that week there
was an increase of 1.3%, the aggregate
clearings for the whole country having amounted to
$5,559,949,057, against $5,487,119,131 in the same week
in 1935.
Outside of this city there was an increase of 17.3 %,
the bank .clearings at this center having recorded a loss of
8.7%.
We group the cities according to the Federal Reserve
districts in which they are located, and from this it appears
that in the New York Reserve District (including this city)
the totals show a decrease of 8.1%, but in the Boston Re¬
serve District the totals register an increase of 13.1%, and
in
the
Philadelphia Reserve District of 8.2%.
In the
Cleveland Reserve District the totals record an improve¬
ment of 26.6%, in the Richmond Reserve District of 7.5%,
and in the Atlanta Reserve District of 19.0%.
In the
Week Ended
of
Chicago Reserve District the totals have been enlarged by
24.7%, in the St. Louis Reserve District by 13.1%, and in
the Minneapolis Reserve District by 28.6%.
In the Kansas
City Reserve District the gain is 5.4%, in the Dallas Reserve
District by 36.9%, and in the San Francisco Reserve Dis¬
trict, 19.7%.
In the following we furnish a summary by Federal Reserve
districts:
SUMMARY OF BANK CLEARINGS
Clearings
Aug.
15
atInc.
1936
1935
or
Dec.
Seventh Feder al Reserve D Istrict—C h i cago
Mich.—AnnArbor
Detroit
Grand Rapids.
Lansing
Ind.—Ft.
Wayne
Indianapolis, i
South Bend
Terre Haute—
Wis.—Milwaukee
Iowa—Ced.Raps.
•
Des Moines...
Sioux City
297,612
106,155,000
2,977,137
1,753,942
1,132,405
16,897,000
1,119,394
4,969,921
21,997,026
1,003,081
17,969,670
3,669,811
520,035
83,438,450
1,878,904
1,097,615
718,502
14,396,000
773,973
4,090,045
16,477,452
+ 33.5
581,138
5,909,842
2,788,298
+ 27.2
+ 58.5
+ 59.8
+ 57.6
+ 17.4
+44.6
+ 21.5
b
b
1936
1936
1935
Dec.
1934
$
$
%
S
1933
Chicago
Reserve
Dists
246,350,837
217,816,561
+ 13.1
200,511,962
b
Boston
New York.. 12
3,186,205,967
3,467,390,806
—8.1
2,963,530,048
3,368,032,379
+8.2
+26.6
284,818,838
656,667
+30.2
2,715,280
912,738
1,189,878
+ 21.5
634,115
—1.2
881,092
585,997
738,903
490,183,852
393,009,150
+ 24.7
350,316,233
290,099,973
63,000,000
18,570,736
9,683,684
Decatur
Peoria
Rockford.
Springfield
Total (18 cities)
Eighth Federa 1 Reserve Dis trict—St. Lo
77,600,000
86,400,000
27,831,135
32,460,353
12,548,963
14,503,878
Tenn.—Memphis
+35.0
+ 19.4
583,400
229,995,199
554,886
2,489,618
+ 57.0
'
uis—
+ 11.3
+ 16.6
71,600,000
23,108,095
+ 15.6
12,074,719
.
Philadelphia 9
"
361,246,881
333,945,586
4th
Cleveland..
5
"
289,423,014
228,569,432
6th
Richmond .6
"
125,022,158
116,298,763
6th
Atlanta
10
7th
Chicago
18
8th
St. Louis
9th
Total (4 cities).
110,552,210
137,787,383
+ 7.5
115,824,273 +19.0
99,148,990
87,290,245
"
490,183,852
393,009,150
+24.7
350,316,233
290,099,973
b
439,000
+25.3
341,000
275,000
133,914,231
118,419,098
+ 13.1
107,123,814
915,529,420
"
133,914,231
118,419,098
+13.1
+28.6
+5.4
+36.9
+19.7
107,123,814
915,529,420
St. Paul
195,564,585
167,022,927
+1.3
+ 17.3
4,773,797,929
5,778,735,524
1,894,378,806
2,496,301,168
273,700,610 +21.5
302,919,608
315,316,093
Minneapolis 7
"
118,074,118
91,797,057
10th KansasCIty 10
"
147,451,185
139,896,942
11th Dallas.....
5
"
65,178,936
47,610,465
Fran.. 11
"
259,110,495
216,540,998
109 cities
5,559,949,057
5,487,119,131
Outside N. Y. City.-—
2,487,961,231
2,121,250,443
32 cities
Canada.
332,431,564
94,232,320
Ninth Federal
Minn—Duluth
_
add
now
our
90,272,129
88,642,843
91,111,002
Ended
Aug.
34,549,4o9
Mont.—Billings
years:
Dec.
Total (7 cities).
Neb.—Fremont..
Omaha
15
Kan.—Topeka...
Wichita.
1934
1933
Mo.—Kan. City.
St. Joseph.
S
First
Federal
—19.1
246,350,837
217,816,561
+ 13.1
200,511,962
Feder al Reserve D istrict—New
York-
11,443,634
New Bedford
_
Springfield
Worcester
1,779,272
Conn .—Hartford
'
New Haven..
R. I.—Providence
N.H.—Manches'
Total (12 cities)
Second
568,995
+9.6
.
+ 14.6
+ 1.6
+ 0.8
—16.3
+ 11.6
+ 31.5
—11.9
+ 13.4
+ 17.2
15,322,856
11,405,097
+34.4
1,016,199
894,694
+ 13.6
34,700,000
Y.—Albany..
Bingham ton.
28,900,000
+ 20.1
552,731
+ 20.8
402,790
509,610
618,197
3,071,987,826 3,365,868,688
6,625,701
7,562,968
3,631,056
3,644,640
+ 21.3
484,390
—8.7
2,879,419,123
2,946,157
297,497
+ 21.4
15,832,606
29,926,969
+ 24.7
•
Elmira
667,825
Jamestown
York
Rochester...
Syracuse..
Conn.—Stamford
J.—Montclair
...
Northern N. J.
3,576,245
305,927
19,736,665
27,066,579
+ 14.1
+0.4
+ 2.8
—9.6
Total (12 cities)
3,186,205,967 3,467,390,806
Third Federal
380,900
1,715,600
183,000,000
509,172
308,776
603,423
2,445,759
1,042,252
9,089,488
2,833,962
7,179,400
386,367
5,381,909
3,277,282
2,402,284
375,688
14,816,934
23,462,969
737,080
24,377,463
481,886
304,544
3,282,434,356
4,896,833
2,983,283
2,550,015
292,065
12,861,458
24,669,762
Reserve Dist rict—Philad elphia
Pa.—Altoona....
Bethlehem
Chester
Lancaster
Philadelphia
Reading..
Scranton..
Wllkes-Barre..
York...
N. J.—Trenton..
Colo.—Col. Spgs
Pueblo
441,959
a708,293
284,045
1,281,296
348,000,000
1,294,860
2,125,909
1,341,076
1,656,736
4,821,000
409,426
a404,618
259,811
909,073
320,000,000
1,269,486
2,674,606
1,082,689
1,532,495
5,808,000
—8.1
+ 7.9
+ 75.1
+ 9.3
+ 40.9
+ 8.8
+ 2.0
—20.5
+23.9
+ 8.1
—17.0
Total (10
cities)
2,963,530,048 3,368,032,379
90,272,129
Reserve Dis trict—Kans
91,855
130,901
as
88,642,843
City
+4.4
56,032
+ 31.3
•
80,687
+ 13.2
2,004,589
26,566,431
3,001,083
53,213
95,873
148,118
3,037,785
33,448,026
2,064,490
3,450,477
100,149,656
3,415,966
842,204
798,590
2,314,091
30,586,249
2,115,372
2,811,194
97,279,528
3,256,760
845,702
545,290
+46.5
498,196
2,013,272
20,943,116
1,221,388
1,829,648
61,342,491
2,712,000
599,233
396,641
147,451,185
139,896,942
+5.4
125,275,108
91,111,002
898,686
34,947,189
4,621,621
2,671,000
26,101,895
3,974,689
2,147,000
.
+ 9.4
—2.4
+ 22.7
+ 4.9
3,409,615
85,948,947
3,097,614
—0.4
b
611,914
+3.0
361,246,881
+ 8.2
333,945,586
Cincinnati
b
—
^
Cleveland
Columbus...
Mansfield
56,479,603
88,409,518
11,753,200
1,456,663
46,467,352
69,455,746
12,777,100
1,192,061
+ 21.5
+ 27.3
—8.0
+ 22.2
b
b
Youngstown
Pa.—Pittsburgh
b
b
b
Fifth Federal
W.Va.—Hunt'ton
301,599
331,857
b
b
244,997
875,491
271,000,000
955,362
1,861,753
1,105,078
1,151,558
7,323,000
284,818,838
41,482,427
63,380,049
11,178,000
1,001,286
b
1,739,624
1,710,489
Total (5 cities).
65,178,936
47,610,465
+36.9
44,878,120
34,549,459
Wash.—Seattle..
Spokane
Yakima.
1,063,557
2,329,000
248,245,651
b
33,179,795
Utah—S. L. City
14,012,979
3,766,810
Calif—L. Beach.
Pasadena
Stockton
3,447,372
148,752,299
3,018,232
1,569,287
2,211,290
Total (11 cities)
259,110,495
San
Francisco.
San Jose
Santa Barbara.
Grand
total
Richmond
66,383,283
D.C.—Washing'n
20,494,297
Richm Ond—
+ 8.3
+ 15.1
Total (6 cities).
Sixth Federal
125.022.158
3,575,042
16,184,503
56,200,000
2,961,995
13,126,620
Fla.—Jack'nville.
+ 6.2
9,900,000
+ 14.6
Ala.—Birm'ham.
12,544,729
Mobile.
1,130,669
+ 20.3
1,136,826
916,179
b
Miss.—Jackson..
Vicksburg-.-i.
La.—New Orleans
cities)
b
b
b
203,304
—49.9
84,425
97,634
27,226,473
+ 12.0
22,336,997
115,824,273
+19.0
99.148.990
87,290,245
1,576,496
877,233
1,182,136
167,022,927
Dec.
%
$
$
+ 15.5
75,391,084
+32.7
+8.5
+ 22.8
1,902,149
324,829
632,374
493,065
+ 21.9
391,458
+39.5
+ 19.3
1,051,480
409,244
838,540
332,431,564
273,700,610
Fort William
New Westminster
Windsor
Prince Albert
Chatham
692,598
510,889
545,898
Sarnia
488,393
...
Sudbury
+ 7.0
+4.4
77,713,166
14,669,056
3,942,237
3,458,682
1,992,948
3,117,779
4,984,413
1,683,536
1,250,748
2,108,567
3,189,993
2,825,630
267,455
360,147
—2.4
1,117,275
395,682
+ 28.1
400,130
760,600
+ 14.5
655,381
+46.4
604,900
+23.0
217,908
577,027
504,504
+ 6.3
727,355
716,364
496,836
194,828
43,899,152
311,966
Moncton
>
Total (32 cities)
a
Not included In totals,
$
87,396,811
74,307,128
98,157,550
13,387,412
3,784,922
3,572,510
1,821,370
3,285,522
6.574,479
1,833,059
1,319,811
2,209,913
3.812,935
3,121,959
280,180
339,037
95,346,113
+ 17.6
804,203
Saskatoon
1933
1934
959,618
744,231
231,717
626,077
530,673
987,559
2,318,866
...
Lethbridge
Kingston.
13
+ 19.2
+ 73.4
—1.5
+ 12.6
+ 23.4
+ 10.0
—13.8
+8.5
+6.2
+ 6.2
+4.4
+ 5.2
—4.0
+ 9.5
+ 3.6
540,372
491,108
1,035,195
1,941,666
256,417
574,868
532,638
419,286
b No clearings
1,141,319
436,529
633,744
.
533,557
424,039
188,461
548,560
555,292
896,348
2,061,412
264,615
571,479
487.542
+ 25.4
356,382
817,334
463,416
347.142
558,040
+21.5
302,919,608
315,316,093
20,282,184
137,787,383
•
507,050
Edmonton
b
101,859
30,495,253
...
870,751
John
Sherbrooke
+32.7
Aug.
Moose Jaw
St.
Kitchener
+ 26.3
4,703,000
290,132
19,450,261
8,924,549
2,672,720
2,154,620
102,215,595
or
Brantford
....
Peterborough
+ 23.3
195,564,585
1,256,454
i__
Victoria
94,232,320
+ 29.8
+ 19.7
14,481,726
14,777,542
3,705,634
2,052,523
3,314,279
4,150,570
1,409,138
1,473,381
2,232,165
3,331,340
2,803,649
266,355
407,021
1,287,844
2,763,218
11,535,128
37,300,000
778,433
769,234
11,416,000
13,751,635
1,004,226
Macon
44,500,000
750,803
756,774
216,540,998
22,976,185
970,538
1,438,461
17,259,036
25,619,027
3,651,119
2,311,207
4,088,588
4,565,367
1,213,984
1,598,984
2,370,625
3,538,736
2,927,707
285,092
424,728
Ottawa
110,552,210
12,128,000
15,764,211
974,472
+34.3
91,180,757
73,415,670
+ 7.5
a-
3,848,196
10,348,411
32,000,000
855,469
473,215
8,500,000
9,968,957
Augusta
+ 17.6
+ 59.0
1935
$
Brandon
107,891
2,083,000
27,499,740
494,757
53,719,634
10,327,298
1,359,817
Nashville
Ga.—Atlanta
—1.1
+24.9
105,330,601
86,356,106
58,256,437
Montreal..
+ 20.7
116,298,763
Reserve Dist rict—Atlant
+ 16.1
+ 30.7
25,602,258
8,473,000
741,160
24,592,230
11,464,371
2,771,240
2,221,079
115,089,477
2,200,771
1,390,915
1936
Canada—
Medicine Hat
Tenn.—Knoxville
+4.9
SCO
at—
Calgary
b
183,584,206
Md.—Baltimore.
+ 73.7
Inc.
1,056,528
201,805,892
+ 5.1
+ 10.0
Week Ended
Clearings
Hamilton
+ 26.6
—7.8
+ 17.5
(109
Quebec
228,569,432
33,696,053
943,909
61,270,360
17,813,192
Franci
+ 1.3 4,773,797,929 5,778,735,524
Halifax
289,423,014
35,420,193
870,396
31,948,151
9,670,000
570,172
31,640,758
12,073,253
3,809,597
2,637,450
119,066,704
2,565,568
1,168,430
+ 17.3 1,894,378,806 2,496,301,168
7,383,300
75,589,771
S. C.—Charleston
•
5,559,949,057 5,487,119,131
39,221,597
84,764,130
154,151
2,779,000
30,346,413
585,125
63,137,423
13,550,098
b
b
Outside NewYork 2.487,961,231 2,121,250,443
60,333,010
+ 33.1
150,249 + 140.3
+ 2.8
2,425,000
37,528,139
10,634,000
990,292
Ore.—Portland..
1,532,316
98,677,173
360,989
2,493,000
615,386
+43.2
Wichita Falls._
Vancouver
b
+ 22.7
271,007
624,855
239,000,000
1,082,388
2,010,671
131,324,030
Reserve Dist rict-
1,003,113
2,053,663
Galveston
Ilegina
Va.-—Norfolk
District—Da ilas—
La.—Shreveport.
Worth
London
Total (5 cities).
Reserve
+ 15.9
36,549,637
5,462,052 + 199.0
—9.9
2,542,000
a878,387 —14.1
Fort
Winnipeg.
Total (10
+ 28.6
+ 37.3
1,230,923
42,379,216
16,337,875
2,290,000
a754,415
2,941,422
Dallas
cities).,
Feder al Reserve D istrict—Clev eland—
Ohio—Canton
"
91,797,057
Eleventh Fede ral
Tex.'—Austin
Toronto
Total (9 cities).
Fourth
118,074,118
Twelfth Feder al Reserve D istrict—San
6,592,41?
801,408
26,112,858
_
Buffalo
Newark.
—3.0
1,721,836
507,654
400,818
3,107,846
+ 12.6
3,373,043
64,746,788
16,312,413
1,554,964.
464,680
271,917
1,919,038
210,395,099
River.
Lowell
N.
$
9,762,135
3,391,629
9,413,000
398,005
Mass.—Boston.
New
+ 15.4
$
1,832,680
187,226,122
594,905
306,110
787,831
2,558,741
1,353,408
11,076,374
2,990,147
8,029,100
492,148
656,670
2,008,446
214,512,699
604,507
308,582
659,662
2,856,230
Portland
N.
_%
456,926
1,579,031
175,624,484
532,659
220,578
679,260
2,199,345
1,105,452
7,554,026
2,649,583
7,589,300
321,318
Me.—Bangor—
Fall
$
Reserve Dist rict—Boston
755,199
2,393,939
677,170
Helena
Lincoln
Inc. or
1935
60,254,950
21,406,172
.
Hastings
at—
1936
2,872,853
+33.5
+ 18.3
+ 11.3
S. D.—Aberdeen
44,878,120
detailed statement showing last week's
Week
Clearings
+46.3
21,957,397
2,000,860
601,187
550,223
2,467,322
N. Dak.—Fargo.
125,275,108
figures for each city separately for the four
2,639,617
61,580,451
3,860,881
82,196,791
25,962,998
2,227,140
_
Tenth Federal
We
b
Reserve Dis trict—Minn eapolis
Minneapolis
4
Total
b
b
550,000
Quincy
183,584,206
3rd
12thSan
268,145
203,365,741
438,948
1,973,571
248,245,651
201,805,892
b
284.534
253,287,172
210,395,099
"
12 cities
1st
2nd
*
2,870,968
11,802,486
186,978
4,152,320
2,039,008
384,125
302,456,186
111.— Jacksonville
Federal
429,636
8,901,000
431,240
855,194
4,262,542
1,108,767
1,175,039
111.—Bloomington
Mo.—St. Louis..
Week Ended Aug. 15 1936
447,896
49,776,350
1,109,762
581,024
474,146
70,911,274
1,646,750
1,107,953
645,414
12,188,000
697,522
3,479,440
14,748,146
+ 18.2
848.533
6,781,374 + 165.0
+24.7
2,941,998
b
Waterloo
—
—42.8
Ky.—Louisville.
Inc.ur
1933
1934
%
available.
* Estimated.
Volume
THE
We
Financial
143
ENGLISH
reprint
the
GOLD
AND
following from
the
Chronicle
Per
circular of
weekly
Aero Supply
Mfg. Co., class A
Aug. 5 1936:
Class A
GOLD
The Bank of England gold reserve against notes amounted to £239,941,219
July 29
compared with £235,767,025
as
Purchases of bar
amounted
In
the
to
gold
announced
as
on
by
fixed
on
are
market
about
£1,300,000 of bar gold was disposed of at
dollar parity.
Although demand
which today
the price,
was
more
general, further
also in evidence and other operations of a special nature
was
indicated by the import of
"£9,800,000 of gold from France as
the figures
week
the
during
Bank
the daily fixing; there has been little movement in
was
Wednesday.
the previous
the
£3,019,208.
open
special buying
given
shown in
below.
Quotations during the week:
Equivalent Value
of £ Sterling
Per Fine
Ounce
_
,
Ju y
30
July 31
Aug.
1
Aug.
4
Aug.
5...
Average of above five days,.
The following
12s. 2.90d.
138s. 8d
/12s. 3.04d
12s. 3.08d.
138s. 7%d.
138s. 7d.
12s. 3.12d.
138s. 8.30d.
United
the
were
12s. 2.90d.
138s. 9%d.
138s. 9%d..
12s. 3.01d.
Imports
British South Africa
British India
British Malaya
United States of
British India
887,937
13,125
12,925
9,851,220
51,185
10,577
100,000
26,906
France
Netherlands
Belgium
Portugal
Exports
America,.£117,340
£1,759,623
Australia
t
Other countries
1:
France
5,905
55,974
20,636
i
Netherlands
6,900
Italy
Other countries
£207,275
Strathnaver which sailed from Bombay on Aug.
1 carries gold
£529,000 consigned to London.
;
there
was
have
resold,
was more
also some
but
in evidence at the lower level of prices, at which
China
on
continue
account
to
Speculators
furnish
main
the
supplies..
The tone
from which
The
he
following
were
about the present level,
steady at
appears
the United
registered from mid-day
on
Kindom imports
July 27 to mid-day
on
and exports of silver
Aug. 1.
'
Imports
'
.
Japan
.£30,649
2,000
5,338
3,174
1,123
1,663
Canada..
Belgium
France
Australia
Other countries
Exports
Norway
Germany
Egypt
1,241
1,450
1,750
3,184
£
Other countries
'
,
£7,625
LONDON
IN
-Bar Silver per
2 Mos.
19 7-16d.
19%d.
19%d.
Aug.
4-.;
19%d.
Aug.
5
.19 9-16d.
Average 5 days. 19.50d.
YORK
19 9-16d.
19%d.
19 9-16d.
19 9-16d.
cents
cents
cents
cents
cents
The highest rate of exchange on New York recorded during the period
from July 30 to Aug. 5 was $5.02% and the lowest $5.01K.
Statistics for the month of July:
—Bar
Silver per Oz. Std.—
Cash
2 Months
Highest price
Lowest price
Average
19%d.
Bar Gold
Per
1913-16d.
-_19%d.
19.5903d.
ENGLISH
Oz.
Fine
$1%
3c
2c
American Ship Building Co. (quar.).
Preferred (annual)
American Telep. & Teleg. (quar.)
Barlow & SeeligMfg. Co. class A com. (quar.)..
Sat.,
Mon.,
Aug. 15
Aug. 17
19%d.
138s. 5d.
Consols, 2%%_ Holiday
CABLE
85 3-16
Tues.,
Wed.,
Aug. 18
138s. 4d
Thurs.,
19%d.
Aug. 21
19%d.
1913-16d.
138s. 2%d. 138s. 3%d.
85%
85
138s. 2d.
85 3-16
Fri.,
Aug. 20
Aug. 19
19 7-16d.
85 3-16
Holiday
106%
106%
106%
.106%
Holiday
118%
118%
118%
118%
118%
50c
$1%
75c
50c
Bristol Brass (quar.)
Extra
50c
Brooklyn & Queens Transit pref. (quar.).
Buffalo, Niagara & Eastern Pow., 1st pref. (qu.)
$1.60 preferred (quar.)
Oct.
1
Oct.
25c
Oct.
1 Sept. 21
1 Sept. 21"
1 Sept.
1
$2
37%c
Canadian Industries, Ltd., com. A & B (qu.) —
Canadian West Natural Gas, Lt., Heat & Pow.—
Preferred
Extra
Get.
Sept.
Sept.
Sept.
Sept.
50c
70c
Oct.
—
Oct.
$1%
Oct.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Aug.
Aug.
Aug.
4Uo
25c
Extra
15c
'
$1%
Preferred (quar.).
Empire Power Corp., participating stock
$6 cumulative preferred
Enamel Products Co
50c
$1%
—
—
''
20C
Rayon Corp., $2% pref. (quar.)
General Telep. Allied Corp. $6 preferred
Glens Falls Insurance Co. (quarterly)
Grand Valley Brewing Co
Great Western Electro Chemical Co., 6% pref.
(quarterly)
Gulf States Steel 7 % 1 st preferred
Harrisburg Gas Co., 7% pref. (quar.).;..
Hibbard, Spencer, Bartlett & Co. (special)
Hoi linger Consol. Gold Mines, Ltd---
grouped in two separate tables.
In the
bring together all the dividends announced the
followr with
a
second table in which
dividends previously announced,
been paid.
The dividends announced this week
are:
but which
62 %c
/i$l%
40c
5c
sept.
Oct.
Sept.
Aug.
Aug.
Sept.
Sept.
Nov.
sept,
5
Oct. 15
Sept.
Aug. 20
Sept. 15
Sept. 8
Sept.
Oct.
Sept.
Oct.
1 Sept. 19
Oct.
1 Sept. 15
$1%
Oct.
30c
30c
15 Sept. 30
Sept. 25 Sept. 15
Sept. 7 Aug. 24
1%
1%
Sept.
Oct.
50c
25c
...
25c
(quar.)
25c
10c
Hutchinson Sugar Plantation (monthly)
Illinois Water Service, 6% pref. (quar.)
$1%
50c
International Cement Corp
,
International Mining
70c
15c
Oct.
Oct.
15 Oct.
15 Oct.
1
26c
Oct.
15 Oct.
1
$1%
75c
-
-
-
$1%
30c
12 %c
25c
—
...
Liggett & Myers Tobacco, pref. (quar.)
Lily-Tulip Cup Corp. (quarterly)
Lissen, Ltd., cum. preference (semi-ann.)
Maui Agricultural Co
- — Merchants & Mfg. Securities class A&B_.
Participating preferred
Participating preferred (special)
Merrimac Hat Corp. (quar.)
$1%
100%
$1H
37 %c
x4%
$1
1
8c
Sept.
Sept.
Sept.
Sept.
Sept.
90c
Nov.
3 Oct.
20c
20c
Aug.
Aug.
Sept.
Sept.
Sept.
50c
Oct.
$2
$1
25c
—
8% preferred (quar.)
Monarch Machine & Tool (quar.)
15c
Extra
Motor Finance Corp. (quarterly)
Extra
20c
50c
Motor Products
50c
New England Telep. & Teleg. (quar.)
Newmont Mining
$1%
Niagara Share Corp. of Md. class A pref. (qu.)
North American Investment Corp., 6% pref—
$1%
5%% preferred (quarterly)
Ohio Oil Co., 6% preferred (quar.)__..
Ontario Silknit Co., preferred (quar.)
Peninsula Telephone Co. (quar.)
Quarterly
$2%
$1%
$1%
—
7 Aug. 24
1 Sept. 15
1
Sept.
Sept. 26 Sept.Il
Sept. 26 Sept. 11
Oct.
1 Sept.
1
Oct.
1 Sept.
1
Sept. 5 Aug. 15
1 Aug. 15
Sept.
Sept. 29 Sept. 11
Sept. 21 Aug. 31
Oct.
1 Sept. 14
Sept. 15 Aug. 31
Oct.
1 Sept. 15
Sept 30 Sept. 4
Oct.
1 Sept.12
Oct.
1 Sept. 12
Oct.
X
Sept; 12
Sept. 15 Sept.
1
Oct.
1 Sept. 10
Sept. 15 Sept. 1
1 Aug. 18
Sept.
Oct.
1 Sept. 19
15c
—
Light, B 1st pref. (quar.).
-
—
1
h$ 3%
15c
Hoover Ball & Bearing Co. (extra).. —
Hoskins Manufacturing Co. (quarterly)
5
5
5
31
20
20
20
15
15
25
20
Oct.
Sept.
40c
Extra
Holophane Co
Aug.
10
Oct.
...
National Casualty Co. (quar.)
National Sugar Refining (quar.)
are
10c
35c
87 %c
Federal Compress & Warehouse Co. (quar.)
Felt man & Cur me preferred (quar.)
Monroe Loan Society (quar.)
Morrell (John) & Co
DIVIDENDS
Sept. 15
Sept. 18
^
(quar.)
Extra
the
Oct.
Oct.
$1%
Edison Bros, scores, Inc. (quar.)
.
not yet
Oct.
Oct.
$1%
—
Oct.
y\
87 %c
25c
Extra.
Copper Corp
Kimberly-Clark Corp. (quar.)
Special
Preferred (quar.)
*.
Lake Shore Mines, Ltd. (quar.)
Aug. 8—The National City Bank of New York, N.Y.
Location of branch:
7 West 51st St., N. Y. City.
Certificate No. 1256A.
show
Sept.
Oct.
Preferred (quar.)
we
Sept.
...
Kennecott
Then
90c
5
21
27
15
21
21
Aug. 26
Aug. 26
—
_
Eastern Steamship Line, pref (quar.)..
Eastman Kodak Co
77.57
AUTHORIZED
Sept.
Sept.
Sept.
Aug.
Aug.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
6%c
$7 preferred (quar.)
7% preferred (quar.).
50.01
BRANCH
Aug.
Sept.
Sept.
Oct.
Daniels & Fisher Stores Co., 6% % pref...
Detroit Paper Products Corp. (quar.)
77.57
.
5
5
20
31
31
25
15a
15a
26
10 J
12
16
5
Sept.
50.01
...
Sept.
Aug.
Aug.
Aug.
Aug.
Sept.
Sept.
Oct.
Extra
77.57
Aug. 8—The First National Bank of Fallbrook, Fallbrook, Calif-.$25,000
Effective: July
11, 1936.
Liq. agent: W. C. Marshall, 460
Montgomery St., San Francisco, Calif.
Absorbed by: Bank of
America National Trust & Savings Association, San Francisco,
Calif., charter No. 13044..
31
Sept.
_
Compo Shoe Machinery vot. tr. ctfs
Consolidated Film Industries preferred
Coon (W. B.) Co. (resumed)
Crucible Steel Co. of Amer., pref..
Cutler-Hammer (quar.)
Preferred
Dec.
Sept.
sept.
Sept.
Sept.
;
77.57
Lave
Oct.
Aug. 15
Aug. 15
Aug. 15
Sept. 8
Sept. 8
Sept.
Coast Counties Gas & Elec., pref. (quar.)
Commercial Invest Trust Corp
Conv. preference $4% series of 1935 *quar.)
77.57
Amount
Sept.
Sept.
Sept.
Oct.
Chestnut Hill RR. (quar.)
77.57
VOLUNTARY LIQUIDATION
Sept.15 Aug. 31
Oct, 31 Sept. 30
Sept.
Kansas City Power &
Katz Drug iquar.).
following information regarding National banks is
from the office of the Comptroller of the Currency, Treasury
Department:
Sept. 15
Jan.
—
Extra
50.01
ye
$1%
$1%
(quar.).
7% preferred (quar.)
Chesapeake Corp. (quar.)
Chesapeake & Ohio Ry. (quar.)
Preferred
(semi-annual)
Cheseorough Mfg. Co. (quar.)
44%
uirrent week.
1 Sept.
1 Sept.
1 Oct. 15
Oct,
50.01
we
Oct.
Oct.
12%c
44%
irst
75c
$1%
Sept. 30 Sept. 15
50.01
The
Oct.
1 Sept.
Oct.
1 Sept.
Sept. 15 Aug.
Sept.15 Aug.
50c
44%
BANKS
15
20
31
30
12
12
15
15
10
31
31
15
15
25c
50.01
NATIONAL
Sept. 1 Aug.
Sept. 15 Aug.
Oct. 15 Sept.
Oct.
1 Sept.
Oct.
1 Sept.
Sept.15 Aug.
Canada Permanent Mtge. (quar.).;
California Ink Co. (quar.)
Closed
S. Treasury
15
Bullard Co
Extra
44%
2 Oct.
2 Oct.
15 Sept. 15
Nov.
U. S. Treasury.
44%
Oct.
40c
Bar N.Y. (for.)
Dividends
30c
$1%
Humble Oil & Refining
price of silver per ounce (in cents) in the United
States on the same days has been:
(newly mined)
Nov.
75c
Extra
i
Nov.
$7
$2%
Biltinore Hats Ltd., 7% pref. (quar.)
Bohn Aluminum & Brass Corp
Extra
106%
The
U.
50c
18%c
$1%
Bayuk Cigars
First preferred (quar.)_
Beech-Nut Packing Co. common (quar.)
Franklin
British 4%
1960-90
-
...
Foote-Burt Co
daily closing quotations for securities, &c., at London,
reported by cable, have been as follows the past week:
Brirish 3% %
War Loan...
Aug. 20a
Aug. 25
Sept. 19
Sept. 19
Sept.19
Aug. 22
Aug. 22
37 %c
25c
138s.10.52d.
FINANCIAL MARKET—PER
Silver, per oz__ 19%d.
Gold, p. fine oz. 138s. 4d.
Sept. 1
Sept. 1
Sept.30
Sept.30
Sept. 30
Sept. 3
Sept. 3
29c
Extra
139s. l%d.
138s. 7d.
19 7-16d.
19.6181d.
,,
The
as
Oct.
Sept.
Sept.
Electrographic Corp. (quar.)
19.537d.
8
Sept. 15
Sept. 15
Sept. 15
Sept. 2
Sept.
5
7%c
:r-
Debenture stock (quar.)
Duquesne Light Co., 5% cum. pref. (quar.)
(Per Ounce .999 Fine)
July 29
45
July 30
45
July 31
45
Aug.
1
45
Aug.
4
45
19%d.
Sept.
Oct.
$1%
Du Pont deNemours (E. I.) & Co., Inc. (qu.)
Extra
Oz. Sid.-
Cash
July 30...
July 31—
Aug.. 1
NEW
Sept. 15
Sept. 15
Sept. 20
Oct.
$1%
5% preferred (quar.)-J
Auto City .Brewing Co.
(quar.)
Extra.
Doehler Due Casting (resumed)
£43 947
Quotations during the week:
IN
Oct.
Chicago Rivet & Machine (quar.)
market
wide departure is anticipated in the near future.
no
Oct.
-
enquiry for American trade requirements.
sales
3%
43 %c
7oc
Carolina Power & Li]
wer
Light 6% pref. (quar.)..
SILVER
The market has been quiet and prices have shown
only small variations.
Indian demand
Oct.
Calumet & Hecla Consol. Copper Co
Canada Malting Co., Ltd. (quar.)
V
!
Holders
Oct.
7oc
Extra
-
£12,713,498
to the value of about
520
*
When
Payable of Record
h $1,125
37 %c
(quarterly)
Agricultural Insurance Co. (N. Y.) (quar.)
Alabama & Vicksburg Ry. Co.
(semi-ann.)
Allied Products, class A
(.quar.)
American Bakeries Corp., class A
7% preferred (quar.)
American Cigar Co
Preferred (quar.)..
American Electric Securities Corp.—
Participating preferred (quar.)
American Seal-Kap Corp. of Delaware
Associates Investment Co. (quar.)
Boston Elevated Ry. (quar.)
Kingdom imports and exports of gold
registered from mid-day on July 27 to mid-day on Aug.
The SS.
S hare
Name of Company
Samuel Montagu & Co. of London, written under date of
on
1175J
MARKETS
SILVER
75c
h$ 3
25c
-
25c
1
1
1
1
Aug. 21
12
31 Aug. 24
31 Aug. 24
30 Sept. 19
30 Sept. 19
15 Aug. 31
1 Sept.
Sept. 30 Sept.
Sept. 15 Aug.
Sept. 24 Sept.
Oct. 20 Sept.
Oct. 20 Sept.
Sept,,15 Aug.
Sept. 15 Sept.
Oct.
Sept.
iJan.
1
Aug. 18
Aug. 18
Dec.
1
10
31
9
30
30
31
1
15
15
,
Financial
1176
Per
Share
Name oj Company
Paraffine Cos., Inc.
Extra
50c
(quarterly).
25c
$1
Preferred
(quar.)
Pennsylvania Glass Sand Corp.$7 preferred
Sept. 26 Sept. 10
Sept. 26 Sept. 10
Oct.
$15*
15 Oct.
f).
(quarterly
Philadelphia Co., $6 preferred (quar.)
$5 preferred
(quarterly)
6% preferred (semi-annual)
Oct.
25c
(quarterly).
O.,
Oct.
$1
1
Oct.
20c
Oct.
15c
Sept. 15
Sept. 10
Oct.
$1._
$1X
Lt£. (quar.)
Sept.
dept.
Sept.
Sept.
Sept.
Oct.
1
1
1
1
(monthly)
Pittsburgh Plate Glass
Pure Oil Co., 5X % preferred (quar.)
6% preferred (quarterly)
8% preferred (quarterly)
Pyrene Mfg. Co
Raybestos-Manhattan, Inc. (.quar.).
Red Indian Oil Co (quarterly)
Rice-Stix Dry Goods Co., 1st and 2nd pref.
—
15c
1 Aug. 21
Oct.
Sept. 10
Oct.
1 Sept. 10
Oct.
1 Sept. 10
Oct.
1 Sept. 10
dept.15 Aug. 31
dept.15 Aug. 31
dept.
1 Aug. 15
Oct.
1 Sept. 15
Sept. 14 Aug. 28
Sept. 1 Aug. 22
Sept. 15 Aug.
5
15c
Pioneer Mill Co
Dec.
$1;
$i
->•—
20c
37*4c
3c
(qu.)
$15*
Richardson Co
4Uo
Rubinstein (Helena), Inc., $3 preferred
25c
Ruud
Manufacturing Co. (quarterly)
Quarterly
Shattuck (Frank G.) (quarterly)..
Schenley DIsfillors Corp. (quar.)
Schiff Co., common (quarterly)
Preferred (quarterly)
Scott Paper Co. (quarterly)
Sisco Gold Mines, Ltd. (quar.)
—
13c
$15*
75c
t\X
50c
5c
15 Dec.
5
Sept.21 Sept.
Oct.
Sept.
Sept.
Sept.
Sept.
1
1 Sept. 16
15
15
15
15
Aug. 31
Aug. 31
Aug. 31
Aug. 31
Southern Colorado Power Co.—
$1
7% cumulative preferred (quarterly)
(quarterly)
40c
Southland Paper Co., common
Extra
20c
Standard Oil of Ky
Sfcrawbridge & Clothier, 6% pref. (quar.)
Tacony-Palmyra Bridge Co. (quar.)_._.
Class A (quarterly)
6% preferred (quarterly)
Talcott (James), inc., 5)4% Pref- (quar.)
35c
...
$15*
50c
50c
—
$1X
685*c
10c
Teck-Hugbes Gold Mines, Ltd
Timken-Detroit Axle Co. (quar.)
Extra
25c
25c
:
$15*
Preferred (quarterly)
15c
Transue & Williams Steel Forging
Extra
5c
...
Tri-State Telephone & Telegraph
Tyre Rubber Co., 6% preferrea (quar.).
15c
— _ —
Union Pacific RR
Preferred (semi-annually)
$1*4
$1&
...
25c
United Dyewood Corp. (quar.).
United Elastic Corp. (quarterly)
15c
-
60c
United Gas & Electric Corp
7% preferred (quarterly)
$15*
United States Foil, class A& B
Preferred (quarterly)
Utah Power & Light, $7 preferred
15c
tlX
58 l-3c
*
50c
$0 preferred
Vicksburg Shreveport & Pacific Ry. Co
Preferred (semi-annually)...
Victor-Monoghan (resumed)
7 % preferred (quarterly)
...
m
$i
$ix
25c
Viking Pump Co
Preferred (quarterly)
White Villa Grocers (serai-annual)
60c
$3
...
25c
$IX
10c
(quarterly)
Extra
5c
Below
Sept. 15 Aug. 31
Sept. 30 Sept. 15
Sept.30 Sept. 15
Sept.15 Aug.
dept.
1
Aug
Sept. 30 Sept.
Sept. 30 Sept.
Nov.
1 Sept.
Oct.
1 Sept.
31
15
15
15
17
15
10
10
10
20
15
15
15
10
1
1
11
4
15
15
Oct.
1 Sept.
Sept. 21 Sept.
Sept. 21 Sept.
Sept. 1 Aug.
Oct.
1 Sept.
Oct.
1 Sept.
Sept. 1 Aug.
Aug. 15 Aug.
Oct.
1 Sept.
Oct.
1 Sept.
Oct.
1 Sept.
Sept. 24 Sept.
Sept. 25 Sept.
Oct.
1 Sept.
Oct.
1 Sept. 15
Oct.
1 Sept. 15
Oct.
1 Sept.
1
Oct.
1 Sept.
1
Oct.
1 Sept.
8
Oct.
1 Sept.
8
Sept. 1 Aug. 22
Oct.
1 Sept. 30
9ept. 15 3ept.
1
Sept.15 Sept.
1
Sept. 1 Aug. 15
Oct.
1 Sept. 10
Sept. 1 Aug. 24
Oct.
1 Sept. 8
Oct.
1 Sept.
8
give the dividends announced in previous weeks
and not yet paid.
This list does not include dividends an¬
nounced this week, these being given in the preceding table.
we
Per
Name of Company
Share
Agnew Surpass Shoe Stores (semi-annual).....
Extra
........................
Preferred (quar.)
Allegheny Steel Co. common
Common (extra)
7% preferred
Allegheny & Western Ry. gtd. (semi-ann.)
Allen Industries, Inc. (quar.)
20c
20c
$1X
25c
15c
**&
25c
1 Aug. 15
1 Aug. 15
Oct.
1 Sept. 15
Sept. 16 Sept.
1
Sept. 16 sept.
1
Sept. 1 Aug. 15
Sept.
Sept.
fan.
2 Dec.
50c
Dec.
15c
(quar.)
$3*4 conv. preferred (quar.)
Aluminum Goods Mfg. Co. capital stock
Aluminum Manufacturing. Inc. (quarterly)...
Quarterly..
87*4c
15c
Sept.
Sept.
31 Dec.
Dec. 31 Dec.
7% preferred (quarterly)
(increased)
75c
Sept.
American Bank Note Co
25c
Oct.
75c
Oct.
(quar.)
American Business Shares, Inc
American Capital Corp., prior pref.
American Chicle (qtiar.)
I
Light, class B.
Envelope Co., 7% pref. A (quar.)
7% preferred (quar.)
American Felt Co., 6% preferred (quar.)
American General Corp., $3 preferred (quar.)_.
$2*4 preferred (quarterly).
$2 preferred (quarterly)
American Hardware Corp. (quar.)
Quarterly
American Hide & Leather preferred
T
American
75c
50c
25c
19
20
20
25
25
20
15
15
20
10
10
15
15
1 Sept. 12
12 Aug. 21
1 Aug. 25
Sept.
Sept.
Sept.
25c
Oct.
1 Sept. 16
1 Aug. 19
1 Aug. 19
1 Aug. 19
1 Sept. 12
25c
Jan.
1 Dec.
75c
Sept. 30 Sept.
Sept.
1 Apg.
Sept. 1 Aug.
Sept.
1 Aug.
Oct
1. Sept.
tlX
tlx
h$ 4
$15*
tlx
15c
Dec.
31
Dec.
15
50c
Dec.
50c
dept.
1
37 Xc
h$ 1 %
Sept.
1 Aug. 10
dept.
1
50c
$1X
tlX
American Water Works & Electric Co. common
20c
American Woolen Co.. pref.
ht 1
(quar.)
Anaconda Wire & Cable Co
Anheuser Bush, Inc. (quarterly)
Quarterly
Archer-Daniels-Midland Co
Armstrong Cork Co. (quar.)
cumul. preferred
Art loom ()orn
50
30 Dec. 20
Aug. 21
Aug.
15
Art Metal Works, Inc. (quarterly)
15c
Sept.25 Sept. 11
Asbestos
35c
Nov.
Mfg. preferred (quar.)
(quar.)
Preferred
Associated Dry Goods 1st preferred
Atchison Topeka & Santa Fe
Atlantic <fc Charlotte Air Line Ry. (s.-a.)
Atlantic Refining Co. (quar.)—4
35c
Feb.
h$ 3
Oct.
20
1 Jan.
20
Sept.
Sept.
$2
$4 H
25c
25c
-
1 Aug.
7
1 July 31
dept.
1 Aug. 20
Sept. 15 Aug. 21
Nov. 16 Nov.
2
5
15 Oct.
1
15 Jan.
2
Mining
50c
50c
—
$1
.
70c
—
15 Apr.
28 Feb.
w
6
Oct.
40c
Sept.
Oct.
$1.60
Oct.
35c
...
Oct.
h50c
California Art Tile Corp., $1X pref
California Packing Corp. (quarterly)
37 fie
dept.
dept.
Aug.
Campbell Wyant & Cannon Foundry
Canada Vinegars. Ltd. (quar.)
Canadian Industries, class A & B (quar.)
Preferred (quarterly)
Canadian Oil Cos., Ltd., 8% preferred (quar.).
Canfield Oil, 7% pref. (quar.)
—.—
Capital Administration Co., Ltd., class A
Class B
Aug. 15
Aug. 15
Sept. 1
Sept. 30
Aug. 27
Aug.
1
dept. 15
dept. 15
Sept. 15
Aug. 24
Aug. 31
Aug.
8
Aug. 15
Sept. 30
Sept. 30
Sept. 20
Sept. 21
dept. 16
dept. 16
dept. 16
Aug. 31
Aug. 31
Aug. 15
Sept. 19
Sept. 20
Sept.
Sept.
Sept.
an 8 Oct.
15c
Extra
dept.
Oct.
Oct.
Oct.
Sept.
Oct.
Oct.
—
Oct.
$3 preferred (quarterly)
Sept.
Sept.
—
Sept.
Carman & Co. class A
Oct.
preferred (quarterly)
7% preferred (quarterly)
;
15
dept.
I Aug. 20
Sept. 15 Aug. 21
dept.
1
dept. 1 Aug. 10
Quarterly
7% preferred
24
1 Aug.
1
Oct.
1 Sept.
1
Aug. 31 Aug. 15
Aug. 31 Aug. 15
Burdine's, Inc
$2.80 preferred (quar.)
Burma Corp., Ltd., Am. dep. rec. reg. (final)
Burroughs Adding Machine Co....
Calamba Sugar Estates (quar.)
Carnation Co., 5%
31 Dec.
Apr.
Bullock's, Inc
Bunker Hill & Sullivan Mining & Concent'g Co.
(initial)
4
Aug. 15
Aug. 15
Jan.
Buckeye Pipe Line Co. (quar.)
Cardinal Gold Mining Co.
Extra
1 dept.
Oct.
(quar.)
(quar.)
(quarterly)
15
1 Sept.
Sept. 1 Aug, 15
Sept. 30 Aug. 31
8
Sept.
1 Aug.
Aug. 25 Aug. 20
Sept. 25 Sept. 20
Sept.30 dept. 16
Sept. 1 Aug. 14
Sept. 1 Aug. 14
Oct.
—
20
Jan.
Sept.
...
Caterpillar Tractor (quar.).
.......
-Central Arkansas Public Service, 7 % pref
Central Mississippi Valley Elec. Properties—
6% preferred (quar.)
........
Central Tube Co. (monthly)
Centrifugal Pipe Corp. (quar.)
...
Century Ribbon Mills preferred (quar.)
Champion Paper & Fibre Co.. 6% prer. (quar.),
Chartered Investors, Inc. (quar.)
Chestnut Hill RR. Co. (quar.)
Chicago Corp., preferred
Chicago District Electric Generating, $6 pref
Chicago June. Rys. & Un. Stockyards (quar.)—
6% preferred (quar.)
Chicago & Mail Order Co. (quar.)
—
Extra.
Chicago Yellow Cab Co., Inc. (quar.)
Chile Copper Co
Chrysler Corp
Cine. New Orl. & Texas Pacific 5% pref. (qu.)__
Sept. 23
Sept. 10
Aug.
Sept.
(quar.)
Dec.
Oct.
(quarterly)
Carolina Telephone & Telegraph
Carter iWm.) Co.,
pref. (quar.)
Aug. 15
Aug. 17
Sept. 1 Aug. 15
Aug. 25 Aug. 15
5
Nov. 16 Nov.
Sept.
Oct.
Sept.
dept.
Sept.
dept.
Oct.
$1*4
37 5*c
125*c
50c
25c
$4
$IX
Oct.
Sept.
Sept.
Sept.
Aug.
Sept.
Sept.
1 Aug. 20
1 Sept. 15
1
1 Aug.
4 Aug. 20
1 Aug. 15
1 Aug. 15
1 dept. 15
1 dept. 15
1 Aug. 10
1 Aug. 10
1 Aug. 20
28 Aug.
8
15 Aug. 15
1 Aug. 15
Cincinnati Union Terminal Co.—
iig
50c
$15*
30c
•$1X
—
—
50c
12Hc
$lh»
10.6c
50c
$1
Extra
Preferred
50c
87 Mc
875*c
$4
IX%
(quar.)
31c
Colt's Patent Fire Arms Mfg. Co.
Columbus & Xenia RR
Sept.30
Sept. 1
Aug. 31
Sept. 30
1
1 Sept. 15
Sept.
(semi-ann.)..:
Extra
10
10
dept. 10 Aug. 20
Oct.
1 Sept. 18
B__
Preferred
1 dept.
Dec.
Class B (semi-annual).
Bucks Kin National
1 dept.
Aug. 26
Nov. 11.
Sept.30 Sept. 25
Union Gas Co. (quarterly)
Brown Fence & Wire class A
Class
Oct.
Aug. 25 Aug. 14
Aug. 25 Aug. 14
dept. 1 Aug. 15
1
1
1
Nov. 15
...
Brown Shoe Co., common
1 Aug. 31
1 Aug. 31
Oct.
Feb.
(quar.)
30
Oct.
Oct.
(qiiar.)
Columbia Broadcasting A & B (quarterly)
Columbian Carbon Co. (quar.)
50c
50c
$1X
Brooklyn
Aug. 31
Aug. 31
15 dept.
Oct.
Sept.
Sept.
Sept.
Extra.
Preferred
Aug. 31
dept. 12 Aug. 20
Oct.
1 dept.
4
Bristol-Myers (quar.)
Brooklyn-Manhattan Transit, preferred
Preferred (quar.)
Aug. 15
Aug. 15
Oct.
-
Sept. 1 Aug. 21
Sept. 16 Sept.
5
Dec. 16 Dec.
5
Sept. 3
Aug. 24
Aug.
7
Sept. 15
Oct
2 Sept.
5
Oct
2 Sept.
5
Sept. 1 Aug. 10
Sept. 15 Aug. 26
dept.15 Sept
la
Sept. 14 Aug. 14
Sept.30 Sept. 20
$1X
Belding-Corticelli. Ltd. (quar.)
Preferred (quar.)
Bendix Aviation Corp
Bethlehem Steel Co. 5% preferred (quar.)
7% preferred (quar.)
Bigelow-Sanford Carpet Co., Inc
Preferred (quarterly)
Black-Clawson Co., 6% preferred (quar.)
Bioch Bros. Tobacco (quar.)
6% preferred (quar.).
6% preferred (quar
Blue Ridge Corp. $3 preferred (quar.)
Blue Kiage Corp. (resumed)
Bon Ami, class B (quar.)
Border Co., common (quar.)
Boston & Albany RR
Brach (E. J.) & Sons
Brewer (C.) & Co. (monthly).
Monthly
;
Bridgeport Gas Light Co
Sept. 5
1
Sept. 10
dept.10
Sept.15
dept.
Oct.
Oct.
-Ct-
Colgate-Palmolive-Peet (quar.)
Preferred (quar.).
*
Collateral Trustee Shares, series A registered—
Collins & Aikman Corp., common
75c
15c
(quar.)__
18
14a
1
22
15
Sept.
50c
32c
Class A and B
Baton Rouge Electric Co. $6 preferred
Beatrice Creamery 7% preferred
Holdi rs
When
Payable of Record
Oct.
63c
tlX
$IX
Coca-Cola International Corp., com
tlX
tlX
$15*
625*c
6% preferred (quar.)
6% preferred A (quarterly)
Bangor & Aroostook RR. Co. (quar.)
Preferred (quar.)__
Bangor Hydro-Elec. Co. 7% pref. (quar.)
6% preferred (quar.)
Bankers National Investing (quar.)
12
Sept.
Laundry Machinery
American Mfg. Co. preferred (quar.)
Preferred (quar.)
American Metals Co. preferred
American Paper Goods 7% pref. (quar.)
7% preferred (quar.)
American Radiator & Standard Sanitary Corp.
Preferred (quarterly)
American Smelting & Refining
American Steel Foundries, preferred
American Sugar Refining Co. (quar.)
Preferred (quarterly)
American Tobacco, com. & com. B (quar.)
American
15
1 Aug.
1 Sept.
1 Sept.
1 Aug.
1 Aug.
Baldwin Co.,
$1*4
$1*4
1 Nov. 25
Oct.
20c
40c
40c
Corp. semi-ann
$3 preferace ser. A (quar.)
Atlas Powder Co. (quar.)
Dec.
Sept.
(quar.)..
Corp
Atlas
Oct.
Sept.
20c
Corp
American Investment Co. of Ul.,cl. B
Atlas Plywood
Share
Name of Company
5% preferred (quar.)
5% preferred (quar.)
City Ice & Fuel Co. (quarterly)
6)4% preferred (quarterly)
Clark Equipment Co
Preferred (quar.)
;
Cleveland & Pittsburgh RR—
4% special guaranteed (quar.)
Cleveland & Pittsburgh Ry. reg. gtd. (quar.)
Registered guaranteed (quar.)
Coca-Cola Co. (quar.)
2c
tlX
$1
(quar.)
American Cities Power &
American Home Products
5
Sept. 30 Sept. 15
(quarterly).
American Arch Co.
Preferred
Holders
5 Aug.
Aug.
Oct.
1 Sept.
Oct.
1 Sept.
Oct.
1 Sept.
Sept. 30 Sept.
25c
7% preferred
When
Payable of Record
50c
Extra
Allied Laboratories, Inc.
Per
Holders
Extra
Pet Milk Co.
Pioneer Gold Mines of B
When
Payable of Record
1936
22,
Aug.
Chronicle
50c
$1
$1.10
$1
Compania Swift International
Compressed Industrial Gases
50c
Confederation Life Association
$1
$1
(quar.)
Quarterly
Congoleum-Nairn, Inc. (quar.).
Connecticut Light & Power—
5*4% preferred (quarterly
65*% preferred (quarterly)
40c
tin
$15*
62 5*c
$1X
Connecticut Power Co. (quar.)..
Consolidated Cigar Corp., 7% pref. (quar.)
Consolidated Edison Co.. N.
50c
Y
Consol. Gas, El. Lt. & Pow. Co. of Baltimore—
Common (quar.)
Class A 5% preferred
Tan.
1 Aug. 10
1 Aug. 10
1
Oct.
1
Sept. 12
Sept. 12
6
Sept. 1 Aug.
Oct.
1 Sept.
5
Sept. 1
Sept.
1 Aug. 20
Sept.
1 Aug. 20
Sept. 1 Aug. 20
Sept.30 dept. 12
Sept.28 Sept. 14
Sept.
1 Aug. 14
Sept. 10 Aug. 25
Sept.
1 Aug. 15
Sept. 15 Aug. 31
Sept. 30 Sept. 25
Dec.
31
Dec.
Sept.15 Sept.
1
1
Sept.
1
Sept.
1
Sept.15
Sept.
Sept.
Oct.
Oct.
Sept.
—-
Nov. 10
1
Oct.
Oct.
-
15
22
27
27
Dec.
Oct.
-
Sept.
Aug.
Aug.
Aug.
Sept.
Sept.
Oct.
(quar.)
1 Sept. 19
Dec. 19
1
Sept. 30
Sept. 1
Sept.15
Sept.15
Oct.
(quar.)
Consumers Power Co. $5 preferred
6% preferred (quar.)
6.6% preferred (quar.)
7% preferred (quar.)
6% preferred (monthly)
6% preferred (monthly)
6.6% preferred (monthly)
6.6% preferred (monthly)
Oct.
Oct.
Sept.
Oct.
25
1
Aug. 15
Aug. 15
Aug. 15
Aug. 15
Aug.
7
Sept. 15
15
15
15
15
15
15
15
Aug. 15
Sept. 15
Sept.
Sept.
Sept.
Sept.
Sept.
Aug
Sept.
Volume
Financial
143
Per
Name of Company
Share
Consolidated Oil Corp., $5 pref. (quar.)
Consolidated Paper Co. (quar.)
Continental Casualty Co. (Chic., 111.) —
Continental steel Corp
Preferred (quarterly)...
$1H
25c
25c
50c
;
MX
....
Copperweld Steel (quar.).......
Quarterly............
Corrugated Paper Box Co., 7% pref. ("quar.)III
Creameries of Amer., Inc., $3H conv. pref
Crown Cork & Seal Co., Inc., com.
(quar.)
$2H cumul. preferred (quarterly).
Crown Drug Co., common
Crown Willamette Paper 1st preferred
Crown Zellerbach Corp., cl. A & B
Oram & Forster, preferred (quar.).,
Oram & Forster Insurance Shares—
Common A & B (quarterly)
7 % pfrSferred (quarterly)
20c
20c
$1 u
87 He
50c
CushmaD's Sons, Inc.,
7% pref. vquar.)._
Dayton & Michigan RR. (semi-annual)
$1,1
_
Deere & Co.. preferred (quar.)
$1,125
82 H%
35c
...
Dentist's Supply Co. of New York (quar.)
50c
Quarterly
7% preferred (quar.).
7 % preferred (quar
?.).
50c
$1H
SIX
Denver Union Stockyards. 5H% pref. (quar.)..
Detroit CityGas, 6% pref. (quar.)
L—
■_
Detroit Gasket 6c Mfg. Co., 6% pref..
Detroit Hillsdale & South Western RR
Dexter Co
Diamond Match.......
—,
Quarterly..........
Preferred (semi-ann.)
Dictaphone Corp.............
....
.1...
*»_.
Extra
Duro-Teet Corp. common._
Eastern Gas & Fuel Association, 4H% pref...
6% preferred (quarterly)..
Eastern Shore Public Service $6H pref. (quar.)
$6 preferred (quar.)...
—
.........
_
_
East
Mahoning RR, Co. (semi-annual)
Eastman Kodak Co. (quarterly)
Extra.
.....
S1H
$1H
30c
Oct.
Sept. 15
Sept.
Aug. 20
Sept. 15
Nov.
Aug. 15
Sept. 30 Sept. 19
Dec. 21 Dec. 11
Sept.
Sept. 30
Dec. 31
Aug. 20
Sept.
Aug. 25
Sept.
Aug. 15
tept.
$2
25c
Jan.
Dec.
Sept.
Sept.
Aug. 15
Aug. 15
19
Dec.
Nov. 14
Sept.
Sept.
Sept.
Aug.
Aug.
Aug.
Sept.
Sept.
$1
$2
37 He
Oct.
Oct.
15
14
14
10
10
Sept.
70c
Aug. 18
Sept.
Sept. 16 Sept. 10
Oct.
1 Sept. 15
Oct.
1 Sept. 15
Sept. 1 Aug. 10
Sept. 1 Aug. 10
10c
$1,125
S1H
l\%
SIX
11H
25c
....
30c
El Dorado Oil Works (quar.)
...
Electric Products Corp
Electric Shareholc ing Corp., $6 conv. pref
Electric Storage Battery Co. (quar.).,
40c
50c
illH
50c
50c
Preferred (quar.)
40c
...
10c
50c
Elgin National Watch Co
Elisabeth & Trenton RR. Co. (semi-aim.)_
5% preferred (semi-ann.)-.
EI Paso Electric Co. (Del.) 7% pref. A (quar.)..
$6 preferred B (quar.)...
El Paso Electric Co. (Texas) $6 pref. (quar.)
Ei Paso Natural Gas, preferred (quarterly).....
Ely & Walker Dry Goods Co. (quar.)
Emerson Drug Co., 8% preferred (quar.)
Empire & Bay StateTeleg. Co., 4% guar, (quar.)
4% guaranteed (quar.)
Empire Capital, A & B (quar.)
Emporium Capwell (semi-ann.)
Equity Corp., $3 conv. preferred (quar.)
Erie & Pittsburgh RR. Co. 7% gtd. (quar.)
7 % guaranteed (quar.)
....
Guaranteed betterment
Guaranteed betterment
Aug. 31 Aug. 20
Aug. 31 Aug. 20
Sept. 15 Aug. 31
Oct.
Aug. 31
Aug. 15
Sept.
Oct.
Sept. 15
50c
25c
75c
Eddy Paper Corp.....
Electrolux Corp.
Extra
1
10 Oct.
35c
35c
Quarterly.
....
21
31
Sept. 14
Aug. 13
Sept.
Sept. 30 Sept. 21
62 He
...
Preferred (quar.)
Dixie Vortex Co. (quar.)
Class A (quar.)
Doctor Pepper Co. (quar.)....
15
10
Aug.
Aug.
Aug.
Sept. 16 Aug.
Sept.
Sept.
Sept.
h% 1%
set
8% preferred (quar.)
Dayton Power & Light Co., pref. (quar.).
Deposited Insurance Shares, ser A& B
Nov. 30 Nov. 15
Oct.
nu
$1H
hUH
87Hc
87 He
Cuneo Press, Inc., preferred (quarterly)—.
Curtis Publishing Co., 7% pref..
15
21
15
14
Oct.
Sept. 15
Aug. 31 Aug. 15
Aug.
Aug.
Aug.
Aug.
Sept.
Sept.
Sept.
Sept.
Oct.
25c
....
Holders
When
Payable of Record
56 He
10c
HH
11X
$1H
$1H
11X
25c
50c
11
11
10c
25c
75c
87 He
87 He
Dec.
Aug. 31
Aug. 29
Sept. 15
Sept. 1
Sept. 30
Sept. 30
Sept. 15
Sept. 15
Sept. 15
Oct.
Oct.
15
Oct.
5
5
5
Aug. 15
Aug. 15
1
Sept.
Aug.
Sept.
Sept.
Aug.
Aug.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Aug.
5
8
8
15
15
5
20
20
30
30
30
22
15
15
Sept. 1
Sept. 1 Aug. 21
Oct.
1 Sept. 15
Oct.
Sept.
Dec.
1 Aug. 21
1 Nov. 21
Aug. 31 Aug.
Oct.
5 Sept.
Sept.. 1 Aug.
Sept. 10 Aug.
19
26
15
31
(quar.).
80c
European & North American Ry. (semi-ann.)..
Faber Coe & Gregg, Inc. (quarterly)
Fairbanks. Morse Co.. 6% pref. (quar.)—
12H
50c
11H
Fajardo Sugar Co. (quar.)
50c
Famise Corp., common class A (quarterly)
6Hc
Fansteel Metallurgical Corp. $5 pref. (quar.)..
$5 preferred (quar.)
Farmers & Traders Life Insurance (quar.)......
118
...........
Dec.
Nov. 30
Sept.
(quar.).
Aug. 31
Dec.
Nov. 30
Oct.
Sept.
Aug.
Aug.
Aug.
Oct.
Sept.
Sept. 30 Sept.
14
Sept.
Sept.
Sept.
15
12
15
19
Dec. 31 Dec
15
15
$2H
Oct.
1 Sept. 10
50c
Faultless Rubber Co. (quar.)
Federal Light & Traction,pref.- (quar.)..
Federated Dept. Stores
....
Oct.
1
Sepji.
First State Pawners Society (111.) (quar.)
SIX
Sept.
Fishman (M. H.) Co. (quar.)
FitzSimmons & ConnellDredge & Dock.
Extra..
j*..
15c
Sept.
Aug.
12Hc
Sept.
Sept.
Sept.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
15
17
21
21
15
8
8
8
21
15
21
21
15
15
20
17
14
Oct.
15
$1H
35c
15c
Special............................
Firestone Tire & Rubber, pref. (quar.)
First National Stores.
Preferred (quarterly)
11H
Oct,
Oct.
12Hc
...
Florida Power Corp. 7% pref. A (quar.).
11X
7% preferred (quar.)
Ft. Wayne & Jackson RR. Co., 5 H % pref. (s.-a.)
Franklin Simon 6c Co.. Inc., 7% nref
87 He
%2X
11X
25c
Freeport Texas Co. (quar.)
Preferred (quar.)
Fuller Brush Co. 7% pref. (quar.)
General American Corp. (semi-annually)
General Candy, class A (quar.)
11H
1 Aug.
Sept.
Sept.
Aug.
Sept.
Sept.
Sept.
30 Sept.
Sept.
Sept.
Sept.
Sept.
Nov.
Oct.
Sept. 25
Aug. 15
Sept.
Sept. 21 Sept. 10
Class A. extra
Sept. 21 Sept. 10
General Cigar, Inc.,preferred (quar.)...
Preferred (quar.)...................
Preferred (quar.)......
Preferred (quar.)
.....
General Finance Corp. (Detroit).
Sept.
Aug. 22
Dec.
Mar.
Nov. 22
Feb. 19
June
May 22
Sept. 15 Sept. 10
General Mills preferred (quar.)
Oct
Sept. 10
Sept. 12 Aug. 13
Sept. 12 Aug. 13
General Motors Co. (quar.)...
Preferred
Oct.
20c
....
.
Extra
Sept.
6§&°
....
8% preferred (quarterly)
Sept.
Oct.
Oct.
a
Nov.
(quar.)
General Telephone Corp., $3 conv. preferred
Globe Democratic Publishers, pref
2 Oct.
Sept.
Co., 2nd pref. (qu.)
Globe Wernecke Co., pref. (quar.)..
.....
Sept.
Oct.
Globe A Rutgers Fire Insur.
Preferred (quarterly)
Oct.
Sept.
Aug.
Aug.
Sept.
5
15
20
15
20
Jan.
Dec. 20
Preferred (quarterly)-.
Great Lakes Towing Co.. 7% pref. (resumed)..
Great Northern Paper Co. (quar.)
.........
Sept. 10
Sept. 10
3ept. 1
Sept.16
Sept. 1
Sept. 30
Aug. 30
Sept. 1
Sept. 1
Sept. 1
Sept. 1
Aug. 3]
Sept. 1
Aug.
Aug.
Aug.
Sept
Aug.
Sept.
Aug.
Aug.
Aug.
Aug.
Aug.
Great Western Sugar Co.
Oct.
2
Oct.
2
Golden Cycle Corp. (quar.)
Extra
Goodman Shoe Co. 6% pref. (quar.)
.....
Gorham Mfg. Co.. vot. trust certificates.
Grace National Bank of N. Y. (semi-ann.).....
......
Grand Rapids Varnish (quaf.)
......
Special
Grand Union Co., preferred
Great Atlantic & Pacific Tea Co.
......
(quar.)...
Extra..—......—.......
Preferred
......
(quar.)
(quar.)
Greene Cananea Copper
Co. (quar.)
...
Gulf States Utilities Co., $6 pref. (quar.)......
$5H preferred (quarterly)—
—
Hackensack Water Co.. 7% pref. A (quar.)....
Hale Bros. Stores
(quar.)
....——
Hamilton Watch, 6% preferred
...
Hammermill Paper
6% preferred (quar.)
Danes (p. h.)
Knitting Co. (extra)
.......
Class B (extra)
Hancock Oil Co., class A and B (quar.)
Class A and B (extra)
Hanna (M. A.) Co., 5% pref.
(quar.)
Harbison-Walker Refractories Co
Preferred (quar.)
Hart-Carter Co.. $2 conv. pref. (quar.)
Hartford & Connecticut Western RR—
2% preferred (semi-annual)
$1H
.
10c
10c
25c
12Hc
$1X
50c
Sept. 14
Sept. 15
Sept. 15
Sept. 30
31
31
24
1
26
19
20
10
7
7
7
Aug. 20
Aug. 20
Sept. 15
Sept. 15
Sept. 4
Aug. 31
Aug. 31
Sept. 16
Aug.
Oct.
Sept.
Sept.
Sept.
Sept.
Aug. 31
25c
25c
SIX
10c
10c
Monthly...
com.
Sept.
Aug.
Sept.
Aug. 15
16 Oci». 10
Nov. 16 Oct. 10
Oct.
1 Sept. 15,
Oct.
1 Sept. 15
12 He
40c
......
$1.05
clOc
$1
$2
Extra.
Hoover & Allison Co., 7% pref. (quar.)...
Horn & Hardart (New York). preferred (quar.)
Imperial Life Assurance of Canada (quar.)
SIX
SIX
$3
$3
Quarterly
Imperial Tobacco of Great Britain & Ireland—
Amer. dep. rec„ ord. (interim)
w7H%
Indianapolis Water Co., 5% cum. pref. A (qu.)_
%
Industrfal News Service, extra
50c
75c
10c
Ingersoll-Rand Co.
Inland steel Co.
Insurance Certificates, Inc
International Business Machines Corp.
International Harvester Co
...
(quar.).
$1H
97 He
62 He
Preferred (quarterly)
SIX
35c
50c
Inc
25c
Intertype Corp., common......
1st preferred (quar.)
Iron Fireman Mfg. (quar.)-—
Quarterly
Irving (John) Shoe Corp. (initial)--.
$2
25c
25c
12 He
.....
.
37 He
(quarterly)
25c
Jaeger Machine Co. (Col., Ohio)
Mills 7% preferred.
Jarvis (W. B.) Co. (quar.)
Jewel Tea Co., Inc., common (quar.)
Johns-Manville Corp. (quarterly)...
Jantzen Knitting
$1
—
50c
50c
;
Kalamazoo Vegetable Parchment Co.
(quar.)
.
.
15c
...
Kansas Utilities, 7% pref. (quar.)_
Kaufmann
$1X
SIX
Dept. Stores, pref. (quar.)
50c
Kayser (Julius).
SIX
Keith-Albee-Orpheum Corp., 7% preferred
12 He
Kelvinator Corp.
h$ 12H
Kemper (Thomas) Co., 7% special preferred
Kendall Co., cumulative participating pref. (qu.)
10C
Cumulative participating pref. (partic. div.).
10c
Kingston Products (initial)
Preferred (quarterly)
$1H
...
25c
Klein (D. Emil) (quar.)
—_
.
Kobacker Stores, Inc
Preferred
Extra..
Preferred (quarterly)
—
Kroehler Mfg. Co., class A preferred (quar.)...
Class A preferred (quar.)—
*
...
——
Kroger Grocery & Baking Co. (quar.)—
6% preferred (quar.)
7% preferred (quar.).
—
Krueger (G.) Brewing Co. (quar.)
Lake of Woods Milling Co. (quar.)
Lake Superior District Power, 7% pref. (qu.)
6% preferred (quarterly)....—.
...——
Landers, Frary A Clark (quarterly)—
Quarterly.
Landis Machine Co. (quar.).
Preferred (quarterly)——
:
Preferred (quarterly)
Lanston Monotype Co. (quarterly)
Lawson (F. H.) Co., pref. B (quar.)
Preferred BB (quarterly)
Leath A Co., $2H preferred (quar.)
Lessings, Inc
Le Touraeau (R. G.), Inc. (quarterly).
—
—
....
—
—
—
—
Extra....
—-———
Libby-Owens-Ford
h%\Ji
25c
30c
$1H
Jan.
2 Dec. 31
9 Aug. 14
1 Sept. 12a
Sept. 16 Sept. 1
Sept. 1 Aug. 3
Sept. 1 Aug. 14
Oct.
7 Sept. 30
Oct. 10 Sept. 22
Oct. 16 Sept. 19
Oct. 15 Sept. 19
5
Sept. 1 Aug.
Sept. 30 Aug 31
Sept.
Oct.
Nov. 16 Oct.
31
Sept. 15 Sept. 1
1 Sept. 15
6
Sept. 1 Aug.
Oct.
1 Nov.
5
Sept. 15 Aug. 31
Sept. 15 Aug. 31
Sept. 1 Aug. 20
Dec.
1
Sept. 1 Aug. 15
Sept. 30 Sept. 16
Sept. 24 Sept. 10
Sej.t. 24 Sept. 10
Oct.
1 Sept. 17
Sept. 30 Sept. 20
Dec. 31 Deb. 21
Oct.
1 Sept. 21
Sept. 30 Sept. 19
Sept.
Oct.
Oct.
1
Aug, 22
1 Sept. 15
1 Sep*
15
Sept. 1 Aug.
Sept. 1 Aug.
Sept. 1 Aug.
Sept. 15 Sept.
Sept. 1 Aug.
Oct.
22
10a
10a
1
18
1 Sept. 21
40c
Sept.
Oct.
Nov.
m
$1H
—
37Hc
Jan.
—
...
....
5
$1
$1H
45c
62 He
16C
25c
50c
40c
5c
30c
15c
50c
$1.10
$1.10
r25c
$2
$2
$1H
liS
10c
m
$1H
....
ilH
...
7% preferred (quarterly)
50c
15c
$1H
15c
50c
50c
Extra
..........
Mci oil Front en a c Oil Co. (guar.)..
1 Aug. 15
1
1
5
...
Preferred (semi-annual)
May Department Stores (quar.)
May Hosiery Mills, $4 preferred
$4preferred (quarterly)
Mayflower Assoc., Inc. (quarterly)
McCahan Sugar Refining A Molasses, 7 % pref.
(quarterly)
;
McClatchy Newspapers, 7% pref. (quar.).....
20
Sept. 15 Sept.
Dec. 15 Dec.
50c
Special guaranteed (quarterly)
...
Original capital —
.......
Original capital- . — - Loblaw Groceterias, class A A B (quar.)..
Lock-Joint Pipe Co. 8% preferred ujuar.)
8% preferred (quar.)
....
Lone Star Gas Corp , 6% conv. pref. (quar.)..
Loose-Wiles Biscuit Co.. 5% preferred (quar.).
Lord A Taylor Co. 1st pref. (quar.)
Louisiana Land A Exploration Co. (quar.)
Louisville Gas A Electric, class A A B (quar.)
Louisville A Nashville RR.
Ludlow Mfg. Association (quar.)—
Lunkenheimer Co., preferred (quar.)—
Preferred (quar.)
Macv (R. H ) A Co
Inc (quar.)
Madison Square Garden Corp. (quar.)
Magnin (I.) A Co., $6 preferred (quar.)
Manhattan Shirt (quarterly)
MasoniteCorp. (quar.)
•;
10
18
2 Oct.
Nov, 16 Nov.
(quar.)...
Little Miami RR., spec. gtd. (quar.)
Dec. 23
1 Aug.
1 Sept.
25c
30c
25c
Extra
10
10
10
24
$1H
$1K
$1H
—
Sept.
Oct.
$1
Liggett A Myers Tobacco com. A com. B
Lincoln National Life Insurance (quar.)
Lincoln Stores, Inc. (quar.)7% preferred (quarterly).
Lindsay Light A Chemical-Link Belt (quar.)
—
Sept.
Sept.
Sept.
Sept.
Sept. 16 Sept, 2
Sept. 1 Aug. 15
Sept. 1 Aug. 15
37 He
o25c
of Tenn
Sept. 30
Sept. 30
Sept. 30
Sept. 30
Dec. 31
$1H
$1 H
....
Life A Casualty Insurance Co.
Life Savers Corp. (quar.)—.
Preferred
Sept. 1 Aug. 14
Aug. 25 Aug. 20
Aug. 26 Aug. 20
Sept. 1 Aug. 15
Sept. 1 Aug. 12
Oct.
1 Sept. 30
p
S.YCo.TquartOTly)~_~_Y— II—IIIIII
Kresge (S.
15
Nov
Sept.
—
7% preferred (quarterly)
1
Aug. 20
Sept. 22
Aug. 18
Sept. 15
Oct.
Aug.
Sept.
12Hc
Extra
...
17
Aug. 20
oOc
Holophane Co..
Preferred (semi-ann.)
Holt (Henry) & Co., A (quarterly).
Homestake Mining (monthly).....
...
(
Aug. 20
37 He
(quar.)
Hobart Mfg. Co., class A (quar.).
Hollander (A.) 6c Son, (quarterly)
Quarterly
1 Aug. 15
75c
common
Extra.
7
20 Oct.
Sept.
II
SIX
Extra.
Preferred
20
15
15
15
14
50c
Preferred (quar.)
Hlbbard, Spencer. Bartlett & Co. (monthly)—
International Nickel Co
Interstate Hosiery Mills,
Oct.
$1H
Hazel-Atlas Glass Co. tquar.)
Hazeltine Corp
Hires tChas. E.)"Co., class A
15
8
1
15
20
Aug.
Sept.
Aug.
Sept.
Sept. 15 Sept.
Oct.
Sept.
Aug.
Sept.
Sept.
1 Aug.
Aug.
Sept.
Sept. 1 Aug;
Aug.
Sept.
Aug.
Sept.
15c
25c
_
Holders
Payable of Record
$3H
-
.....
Heyden Chemical Corp.
When
Per
Share
Name of Company
Quarterly
Dec. 15 Dec.
Oct.
1 Sept.
Oct.
1 Sept.
Oct.
1177
Chronicle
$3 H
50c
h$ 1
$1
75c
5
Aug. 31 Aug. 21
Sept. 15 Sept. 10
Sept. 15 Sept. 10
Oct.
1 Sept. 15
Sept. 10 Sept. 4
Sept. 1 Aug. 15
Sept. 1 Aug. 15
Sept. 16 Aug. 31
Sept. 4 Aug 20
Sept. 1 Aug.
1
Sept. 1 Aug. 17
Nov. 2 Oct. 27
.
Sept.
Sept.
1 Aug. 24
1 Aug. 24
Aug. 24
Sept, 1
Sept. 1
Oct.
1
Sept. 10
Dec. 10
Aug.
Aug.
Aug.
Sept.
Aug.
8
15
15
15
25
Nov. 25
Sept. 10 Aug. 25
Dec. 10 Nov. 25
Sept. 1 Aug. 12
Oct.
1 Oct,
1
Jan.
2 Dec. 31
Sept. 30 Sept. 1
Oct.
1 Sept; 18a
Sept.
1 Aug.
Sept. 15
Sept. 25
Aug. 24
Sept. 1
1
Oct.
Jan.
2
17
la
Aug. 31
July 28
sept,
Aug. IF
Sept. 21
Dec. 2v
Sept. 1 Aug.
7
Aug. 31 Aug. 1*
Nov
15
Nov.
1
Sept. 1 Aug. 10
Sept. 15 Sept. 1
Sept. 15 Sept. 1
Sept. 1 Aug. 15
Sept. 1 Aug. 15
Sept. 2 Aug. 18
Sept. 2 Aug. 18
Sept. 15 Sept. 1
Sept. 1 Aug. 15
Aug. 31 Aug. 31
Nov. 30 Nov. 30
Sept. 15 Aug. 15.
Financial
1178
Per
Share
Name of Company
50c
el00%
Mclntyre Porcupine Mines (quar.)
„
McWilliams Dredging Co
<$1
h$l$1'
10c
Quarterly.
--—
A
—
Memphis Natural Gas Co., preferred (quar.)—
Metal Textile Corp., common
Preferred (partic. in common div.) —
Par tic. preierence (quar.)
Metropolitan Edison Co., $7 prior pref. (quar.)
$6 prior preferred (quarterly)
$5 prior preferred (quarterly)
—
$7 cumul. preferred (quarterly)
$6 cum. preferred (quarterly)
$5 cumul. preferred (quarterly)--Michigan Steel Tube Products Co. "(quar.)
Middlesex Water Co. (quarterly )
- — Mid-West Rubber Reclaiming Co., $4 pref. (qu.)
Minneapolis Gas Light (Del.), 7% pref——
6% preferred (quarterly)
Missouri Utilities, 7% pref. (quarterly)
Mock, Judson, Voehringer Co
Preferred (quar.)
Monarch Knitting. Ltd., 7% preferred
Monsanto Chemical (quar.)
_
_
Mead Corp., cumulative preferred
oi
°1 He
Sept.
Sept.
Sept.
1 Aug.
Sept.
Oct.
1
Sept.
Sept.
1 Aug. 20
1 Aug. 20
sept.
Oct.
1
Oct.
1
1 Aug. 20
1 Aug. 20
Aug. 15
1 Sept. 20
1
1
1
Oct.
1
Oct.
1
Oct.
1
Sept. 10
Sept.
Sept.
1
sept.
1
Sept.
1
1
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
20
31
31
31
31
31
31
31
25
20
31
31
Sept. 1
26
Sept. 10 Aug. 21
Oct.
1 Sept. 15
Oct.
1 Sept. 16
Sept. 15 Aug. 25
Sept. 15 Aug. 25
Extra
Oct.
Montgomery Ward & Co
Class A (quar.)
-——
Montreal Loan & Mtge. (quar.)
Moore (Wm. R.) Dry Goods (quar.)
Quarterly
Morris (Philip) & Co. (quarterly)
Morris Plan Insurance Society (quar.)
Quarterly
Motor Wheel Corp. cammon (quar.)_—
Mt. Diablo Oil Mining & Development
-
15 Sept. 11
Oct.
1 Sept. 18
Sept. 15 Aug. 31
1 Oct.
1
„
Oct.
—
Jan.
2 Jan.
2
15 Oct.
1
1 Aui. 27
Dec.
1 Nov. 26
sept. 10 Aug. 20
Sept. 1 Aug. 24
—
Oct.
Sept.
Sept. 28 Aug. 31
Sept. 1 Aug. 15
Oct.
1 Sept. 15
1 Aug. 22
sept.
Sept. 1 Aug. 15
Sept. 28 Sept. 17
Mueller Brass Co. (quarterly)
Mullins Mfg. Corp., $7 preferred
Munsingwear, Inc.
Murphy (G. C.) Co. (quar.)
—
Muskogee Co., 6% cum. pref. (quar.)
Mutual Chemical Co. of Am. 6% pref. (quar.)—
6% preferred (quar.)
-i
Nachman Spring-id lied Corp
National Bearing Metals Corp
Dec. 28 Dec. 17
—
sept. 15 Sept.
1
1 Aug. 20
Sept.
Oct.
15 Sept. 11
Aug. 31 Aug. 14
1 Aug. 15
sept.
Sept. 1 Aug. 15
National Biscuit Co. (quarterly)
Preferred (quarterly)
National Container Corp. (quar.)
Preferred (quar.)
—;
National Gas & Electric Corp—
Sept.
National Lead Co. (quar.)
Extra
Sept. 30 Sept. 11
Sept. 30 Sept. 11
Sept. 15 Aug. 28
_
Class A preferred (quar.)
Class B preferred (quar.)
Nov.
National Linen Service Corp., $7 pref.
National Oats Co
National Power & Light Co
National Pressure Cooker Co
2 Oct.
16
Aug. 20
Aug. 21
July
27
Aug.
Aug.
Aug.
Aug.
sept. 15 Aug.
Sept. 1 Aug.
Sept. 1 Aug.
Nebraska Power Co., 6%
pref. (quar.)
7% preferred (quarterly)
Neiman (Marcus) Co., preferred (quar.) —
Neisner Bros., Inc. (quar.)
New Bedford Cordage (quarterly)
Preferred (quarterly)
Newberry (J J.) Co. (quar.)
5% preferred A (quar.)
New Jersey Power & Light, $6 pref. (quar.)
$5 preferred (quarterly)
__
Oct.
—
New York Air Brake (resumed)
Nineteen Hundred Corp., class A (quar.)
Norfolk & Western Ry. (quar.)
North American Edison, preferred (quar.)
1 Aug. 21
Sept. 1
Sept. i". 1
1
Sept.
Sept. 1
Sept. 1
Sept. 1
Sept. .1
(s.-a.)-_
Sept.
Oct.
Oct.
Sept.
15
14
14
20
31
12
12
1 Sept. 16
1 Aug. 15
1 Aug. 31
1 Aug. 31
1 Aug. 12
Nov. 14 Oct.
31
Sept. 19 Aug.
1 Aug.
Sept.
Sept. 10 Aug.
1 Aug.
sept
_
North River Insurance (quarterly)--Noronern RR. Co. of N. J., 4% gtd. (quar.)—
31
15
29
22
Dec.
1 Nov. 21
Sept.
Sept.
Sept.
1 Aug. 15
1 Aug. 10
-
Dec.
1 Nov. 15
—
4%
Aug. 25
Sept, 1
Sept. 1
Sept. 1
Sept. 1
guaranteed
(quarterly)
Northam Warren Corp., conv. pref. (quar.)
Northeastern Water & Electric, $4 pref. (quar.)
North Oklahoma Gas Co., 6% pref. (quar.)
6% preferred (quar.)_
North Pennsylvania RR. Co. (quar.)
Northwestern Public Service, 7% pref. (quar.)6% preferred (quar.)
f
Nova Scotia Light & Power Co., 6% pref. (qu.)_
Ogilvie Flour Mills Co., 7% pref. (quar.)
Ohio Power Co., 6% pref. (quar.)
—
Ohio Public Service Co., 7% pref. (mo.)
6% preferred (monthly)-5% preferred (monthly)
Oklahoma Gas & Electric, 7% pref. (quar.)
6% preferred (quarterly)
Oshkosh Overall <Jo. (quar.)
$2 preferred (quar.)
Ottawa Light, Heat & Power, pref
Pacific Can (initial)
Parker Pen (quar.)
Parker Rust Proof (quarterly)
Parker Wolverine Co., common
Patterson-Sargent Co. (quarterly)
Pender (David) Grocery Co., class A (quar.)
Penick & Ford, Ltd (quar.)
Pennsylvania Gas & Electric (Del.) A (qu.)
7% and $7 preferred (quar.)
Pennsylvania Power Co., $6.60 pref. (monthly).
$6 preferred (quarterly)
Peoples Natural Gas Co., 5% pref. (quar.).——
Peoples Telephone Corp. 6% pref. (quar.)
PeterDorough RR, Co. (semi-annually)
Peninsular Telegraph Co., 7% preferred (quar.)
7% preferred (quar.)_—
Pennsylvania Water & Power Co. (quar.)
Preferred (quar.)
L
Penn Valley Crude Oil, class A pref.
(quar.)
Peoples Drug Stores, Inc. (quarterly)Special
<
6H % preferred (quarterly)
Pfaudler Co., preferred (quarterly)
Phelps Dodge Corp
Philadelphia Co. 5% preferred (semi-ann.)
Philadelphia Elec. Power Co., 8% pref. (qu.)
Phil a., Germantown & Norristown RR. Co
Philadelphia Suburban Water Co., pref. (quar.).
Philadelphia & Trenton RR. Co. (quar.)
Phillips Petroleum Co. (quar.)
flH
—
Sept.
1
1
25c
—
87 He
—
75c
37Hc
%1H
55c
$1H
w
sih
1
Oct.
—
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
18
21
21
15
20
3
15
15
15
31
31
20
20
1
1
Sept. 30 Sept. 15
1 Aug. 15
Sept.
Sept. 1 Aug. 10a
Sept. 1 Aug. 15
Sept. 1 Aug. 20
Sept. 1 Aug. 20
Sept. 15 Sept. 1
Sept. 1 Aug. 20
Oct.
1 Sept. 21
Sept. 1 Aug. 20
Sept. 1 Aug. 20
Oct.
1 Sept. 15
Sept. 1 Aug. 31
Oct.
1 Sept. 25
Nov. 16 Nov.
5
Feb.
Oct.
Oct.
Oct.
15 Feb.
5
1 Sept.15
1 Sept. 15
Oct.
1 Sept. 15
1 Sept.
8
Oct.
1 Sept.
50c
8
Sept. 15 Aug. 31
1 Aug,20
Sept.
Sept. 15 i\ug. 25
Sept. 1 Aug. 10
Oct.
1 Sept. 10
Sept. 5 Aug. 20
Sept. 1 Aug. 12a
Oct. 10 Sept. 30
Sept. 1 Aug.
7
Sept. 1 Aug.
7
Oct.
10 Sept. 30
60c
Jan.
-
—
—
—
25c
Extra
25c
Hosiery, 1st preferred (quar.)
Photo Engravers (semi-annual)
1
Sept.
Sept.
—
Phoenix
1
Sept. 15
Sept. 15
—
Phoenix Finance Corp., preferred (quarterly)
Preferred (quarterly)
1 Aug. 15
Sept.
Sept.
Sept.
...
—
fc87Hc
10 Dec. 31
Pierce Governor Co. (resumed)
15c
1 Aug.
Sept.
1
1 Aug. 15
Sept.
Aug. 25 Aug. 15
Pillsbury Flour Mills Co
Pittsburgh Bessemer & Lake Erie (semi-ann.)-.
Pittsburgh Ft. Wayne & Chicago Ry. Co. (quar.)
Quarterly
7% preferred (quarterly)
7% preferred (quarterly)
Pittsburgh Screw & Bolt (resumed)
Pittsburgh Youngs town & Ashtabula Ry. Co.7% preferred (quarterly)..
7% preferred (quarterly)
Plymouth Found. A (quar.)
40c
Sept.
75c
Oct.
iig
Oct.
1 Sept. 10
Jan.
2 Dec.
Oct.
6
Jan.
5 Dec.
10
Sept.
1 Aug.
3
Sept.
1 Aug. 20
—
50c
$1H
%1H
12Hc
#
lHc
-
Extra.
lc
—
Potomac Electric Power Co., 6% pref. (quar.)_.
5H % preferred (quar.)
.'.
.
$1H
$ih
Per
Holders
Payable of Record
Oct.
-
-
When
1 Aug. 15
1 Sept. 15
10
Sept.10
Dec.*
1 Nov. 20
Sept.
1 Aug.
Oct.
1 Sept. 15
1 Aug. 15
Sept.
Sept.
Aug. 22, 1936
Chronicle
15
1 Aug. 15
Name of
Share
Company
25c
Plymouth OilOo
,
Prentice Hall, Inc. (quarterly)
Extra
70c
10c
'
75c
$3 preferred (quarterly)
$1H
(quar.)
3%
Properties (A. P. W.), Inc., class B—
Public Electric Light, pref. (quar.)
$1H
37 He
Public National Bank & Trust Co. (quar.)
-—
37Hc
Quarterly
58 l-3c
Public Service Co. of Colorado, 7% pref. (mo.)
50c
6 % preferred (monthly)
—
41 2-3 c
5% preferred (monthly)
60c
Public Service Corp. of N. J. (quarterly) t
$2
8% cumulative preferred (quar.)
7% preferred (quar.)
50c
6% preferred (monthly)
50c
6% preferred (monthly)
—,
S5 preferred (quar.)
Public Service Electric & Gas Co., 7% pref. (qu.)
preferred (quarterly).
s
Purity Bakeries Corp
S1H
Quaker Oats, preferred (quarterly)
Radio Corp. of America—
87 He
$3 H cumulative conv. 1st preferred
—
50c
Rainier Pulp & Paper, $2 A & B (quar.)
60c
Rapid Electrotype (quarterly)
60c
Quarterly
50c
Reading Co. 1st preferred (quarterly)
50c
2nd preferred (quarterly)
Reeves (Daniel), Inc. (quar.)
6H% preferred (quarterly)
Reliance Grain Co., 6H % pref. (quar.)
$i %
el%
Remington-Rand, lnc
15c
Quarterly
31 He
5% preferred (quar.)
$6 preferred (quar.)
$1H
25c
Republic Insurance Co. of Texas (quar.)
25c
Reynolds Metals Co. (quar.)
—
5H% preferred (quar.)—
,31H
Rich's, Inc., preferred (quarterly)
Rike-Kumler (quarterly)
25c
Riverside & Dan River Cotton Mills, 6% pref—
h$3
Roberts Public Markets, Inc. (quar.)
15c
Procter & Gamble, 5% pref.
--------
—
-
'
linc
—
,
-
Extra
10c
-----
Rochester Gas & Elec. Corp., 7% pref. B (quar.)
6% preferred C & D (quar.)
Roos Bros.. Inc. (quarterly).——
Russek's Fifth Ave., Inc
i-,
St. Lawrence Flour Mills (extra)
St. Louis.
■$IH
31H
37Hc
...
Oct.
1 Mar. 31
Aug. 21
Sept.
1
Oct.
1 Sept. 21
2 Dec. 21
Jan.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Aug.
Sept.
Sept.
Sept.
Sept.
Sept.
Aug.
1 Aug.
1 Aug.
1 Aug.
(quar.)
Quarterly
30 Sept.
30 Sept.
30 Sept.
30 Sept.
30 Sept.
30 Sept.
1 Aug.
31 Aug.
1 Sept. 9
Sept. 1 Aug. 20
Sept. 15 Sept. 1
Dec.
15 Dec.
Sept. 10 Aug.
Oct.
8 Sept.
Sept. 15 Aug.
Sept. 15 Aug.
Sept. 15 Aug.
Oct.
1 Sept.
Oct.
1 Sept.
1 Sept.
Oct.
1
——
—
25c
50c
.
75c
75c
15c
tin
2c
—
-
-
31H
^50e
2c
$3i
25c
5c
75c
S1H
Aug. 20
20
Sept. 30
Dec. 31
Sept. 30 Sept. 15
Dec. 31 Dec. 15
Sept.
Oct.
$1H
$1
$1
$3
h$ 1H
31
Oct.
1 Sept. 21
Sept. 30 Sept. 15
Sept. 11 Aug. 27
Sept. 1 Aug. 21
Oct.
1 Sept. 20
Oct.
1 Sept.20
Sept. 1 Aug. 13
Sept. 1 Aug. 13
Sept. 21 Sept. 10
1 Aug.
—
7H % debentureB (quarterly)
7% debenture C (quarterly)
—
6H% debenture D (quarterly)
6% preferred (semi-annually)
6% preferred
Seaboard Oil Co. of Dela., (quar.)--Sears, Roebuck & Co. (quar.)
Second Investors Corp, (R. I.), $3 pref. (quar.)
Secord (L.) Candy Stores, Ltd. (quar.)---Servel, Inc., common
7% cum. preferred (quar.)
7% cum. preferred (quar.)
Sheep Creek Gold Mines (quar.)
i-.
Shenango Valley Water, 6% pref. (quar.)
Sherwin Williams Co., 5% preferred (quar.)
Simmons Co. (resumed)
Simon (W.) Brewery (quar.)
Sloss-Sheffield Steel & Iron, pref. (resumed)
Smith (S. Morgan) Co. (quar.)
Socony-Vacuum Oil Co
Sonotone Corp., common
i
Sound view Pulp Co. (quar.)
South Carolina Power Co. $6 pref. (quar.)
1
20
17
31
31
10.
10
10
Oct.
1 Sept. 10
Aug. 25 Aug. 10
Sept. 1 Aug. 11
Sept.
75c
43 He
15
1
Oct.
Sept.
75c
—
—
Savannah Gas Co., 7% preferred (quar.)
Savannah Electric Power, 8% deb. A (quar.)
15
15
15
30 Sept.
31 Aug.
25c
—
San Francisco Remedial Loan Assoc.
Sept. 30 Sept. 10
Sept. 1 Aug. 20
Sept. 1 Aug. 20
Sept. 1 Aug. 20
Sept. 15 Aug. 25
$1
$1H
$1H
—
Rocky Mt. & Pacific Co., preferred-
Preferred
Holders
When
Payable of Record
1 Aug. 20
1 Sept. 15
Oct.
1 Sept.
Oct.
1 Sept. 15
1 Sept. 15
Oct.
15
Oct.
1 Sept. 15
Oct.
1 Sept. 15
Sept. 15 Sept. 1
Sept. 15 Aug. 17
1 Aug. 15
Sept.
1 Aug. 15
Sept.
Sept. 1 Aug. 20
1 Sept. 19
Oct.
Jan.
Oct.
Sept.
Sept.
Sept.
2 Dec.
19
15 Sept. 30
1 Aug.
20
1 Aug. 15
1 Aug.
5
Aug. 29 Aug. 14
Sept. 15 Aug. 31
Nov.
1 Nov.
1
Sept. 15 Aug. 19a
Oct.
15 Oct.
1
Sept.
1 Aug.
Oct.
1 Sept. 15
15
Southern Calif. Edison Co.—
—
6% preferred series B (quarterly)
Southern Fire Insurance Co. (N. Y.) (s.-a.)Southern Pipe Line
Southwest Consol.
Gas
37Hc
—
60c
10c
75c
Utilities-.
Spear & Co., $5H pref. (quar.)
Spencer Kellogg & Sons, common (quar.)
Spiegel May Stern Co., $6H preferred (quar.)
Standard-Coosa-Thatcher Co., 7% pref. (qu.)
31H
—
—
—
SI %
SI H
25c
Standard Oil of Califorinia
Extra.
40c
5c
-
-
25c
Standard Oil of Indiana (quar.)----
25c
Extra
Sterling Products, Inc. (quarterly)-Strawbridge & Clothier Co.. 6% pref. (quar.)
Stromberg-Carlson Telep. Mfg. Co., pref—
Sun Oil Co. (quarterly)
Preferred (quarterly)
Sunray Oil Corp. (Dela.) common
Superior Portland Cement, class A pref
Susquehanna Utilities Co., 6% pref. (quar.)
Swift & Co. (quar.)
Sylvanite Gold Mines, Ltd. (quar.)
Tacony-Palmyra Bridge, 7H% pref. (quar.)
Tampa Gas Co., 8% pref. (quar.)-7% preferred (quarterly),-Telephone Investment Corp. (mo.)
Tennessee Electric Power Co. 5% pref. (qu.)
6% preferred (quar.)
7% preferred (quar.)
7.2% preferred (quar.)
6% preferred (monthly)
6% preferred (monthly)
7.2% preferred (monthly)
7.2% preferred (monthly)
Texas Corp. (quarterly)
95c
-
25c
S1H
27 He
S1H
25c
5c
—
—
Nov.
Oct.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Oct.
Sept.
Sept.
Sept.
Oct.
15
Oct.
15
15 Aug. 15
15 Aug. 15
15 Aug. 15
15 Aug. 15
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Sept.
Aug.
15a
15
17
25
10
11
22
20
1
17
Aug. 20
ept.
Aug. 20
ept.
Oct.
Aug. 20
Oct.
Oct.
50c
Sept.
15c
Aug.
Sept.
Aug.
Aug. 15 '
Aug. 10
Aug. 10
Oct.
Oct.
Oct.
50c
Sept.
50c
Oct.
60c
Sept.
60c
-
45c
Oct.
15
15
15
15
15
15
15
15
4
4
1
Sept.
(quar.)
Timken-Roller Bearing Co. (quar.)
Extra
Title Insurance Corp. of St. Louis
Toledo Edison Co., 7% pref. (mo.)
Aug. 20
25c
$Ti
-
Tide Water Power preferred
1
Sept.
Sept.
Sept.
Sept.
Aug.
Sept.
Aug.
Sept.
Sept.
Sept.
Sept.
SI
—
-
Tidewater Associated Oil Co
SI H
$2
31H
27Hc
SI H
S1H
Sept.
Sept. 1 Aug. 15
Sept. 30 Sept. 15
25c
—
Texas Gulf Sulphur Co
Texas & Pacific Ry., preferred--Tidewater Oil Co
6c
—
-
Extra
S1H
/ill %
Sept. 15 Aug. 20
Sept. 1 Aug. 15
Sept. 1 Aug. 18
50c
25c
25c
-
58 1-3 c
50c
6% preferred (monthly)-41 2-3c
5% preferred (monthly)
Trans-Lux Daylight Picture Screen Corp.(s.-a.)
10c
Tri-Continental Corp., common
25c
$6 cumul. preferred (quarterly)
S1H
Trusteed Standard Oil Snares, series B (bearer)_
9c
Tubize-Chatillon 7% preferred.
7% preferred (quar.).
Tuckett Tobacco Co., Ltd., preferred (quar.)
208 S. La Salle Street Bldg. Corp. (Chicago)
Quarterly
Quarterly
>
Underwood Elliott Fisher Co., common
Union Gas Co. of Canada, Ltd-"Union Tank Car Co. (quarterly)
United Biscuit Co. of Amer., com
Preferred (quarterly)a
United Corp., $3 preferred (quar.)
—
-
18
Sept.
Sept.
Aug.
Sept.
Sept.
Sept.
Sept.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Oct.
Sept.15
Sept. 15
Oct.
Sept.
Sept.
Oct.
Oct.
Oct.
Jan.
18
21
15
15
15
Aug. 15
Aug. io
Sept. 10
Sept. 30
1 Sept. 19
19
4 Dec.
Sept. 30 Sept.12a
Sept. 15 Aug. 20
Sept. 1 Aug. 17
Sept. 1 Aug.
5
Nov.
1 Oct.
Oct.
1 Sept.
15
4
Volume
143
Financial
Chronicle
1179
Holders
Name of Company
United Gas Improvement
(quar.)
Preferred (quarterly)
Aug. 14
Aug. 31
Aug. 31
Aug. 15
Aug. 15
Aug. 15
Sept. 15
Sept.
(monthly)!!!
6.3% preferred (monthly)
6% preferred (monthly)
7% preferred (monthly)
6.3% preferred (monthly)
6% preferred (monthly)
Sept.
Sept.
Sept.
Oct.
Name of Company
Went worth Mfg. Co.
(quarterly)
Wesson Oil &
Snowdrift, $4 con v. pref
Western Auto
Supply, A & B (quar.)
Westinghouse Electric & Mfg..
Payable of Record
Nov.
Westmoreland, Inc. (quar.)
15
20
31
31
Tan.
Dec.
15
Aug. 31
Sept. 16
Aug. 15
Aug. 15
Aug.
3
Sept. 12
Aug. 15
Oct.
-
Westvaco Chlorine Products (quar.)
Extra.
15
Aug;
Aug.
July
July
Sept.
—
Preferred (quarterly
West Jersey & Seashore
6% spec. gtd. (s.-a.)
Westland Oil Royalty Co.f class A (monthly)..
Oct.
Sept.
Sept.
Aug.
Aug.
--
Sept.
Sept.
Sept.
..
Oct.
Wivfonthi m')
Co. (monthly)
Dec.
Nov. 30
Yale & Towne Mfg.
Oct.
Sept. 19
Zimmerknit Co., Ltd., pref
Uo."quar.)!!!!!!!!!!!!!_!
Oct.
a
Transfer books not closed for this dividend.
Sept.
Sept. 19'
Aug.
1
Aug. 15
Dec.
Nov. 14
c
The following corrections have been made:
Mar.
Feb.
June
May 15
Holt (H.) & Co., holders of rec. Aug. 14;
previously reported as Aug. 11.
Oct.
Oct.
Envelope (semi-annual)
Sept.
Sept.
Preferred* (semi-annual)
United States Freight
(quarterly)III"!
United States Gypsum Co.
7 % preferred (quarterly)
United States Pipe &
Common (quar.)
Sept.
Quarterly) III""
Oct.
Oct.
Foundry Co.
Playing Card Co.
United States Steel,
7%
Universal Insurance
common (qu.)
(quar.)"!"!!
cumul. preferred"!
Aug.
(Newark, N. J.) (quar.)...
Quarterly
Quarterly
Quarterly
Upper Michigian Power & Light Co.6% preferred (quar.)
6% preferred (quar.)
I
!!!!!!!!!!
Utica Knitting, 7% preferred.
i$ IX
SIX
h$3X
Vanadium-Alloys Steel
Van Raalte
Co., Inc
60c
$1
7% preferred (quar.)
!._
Vapor Car Heating Co., preferred (quarterly)...
Preferred (quarterly)
^
Veeder-Root, Inc. (quarterly)
SIX
SIX
SIX
50c
...
Extra.
Vick Chemical Co.
Extra
$1
50c
(quarterly)
10c
.
Virginia Coal & Iron Co. (quar.)
Virginia Electric & Power $6 pref. (quar.)
Virginia Fire & Marine, Ins
Vogt Mfg. Co. (quarterly)
25c
SIX
87 Xc
25c
Extra
50c
Vulcan Detinning,
!!_.
preferred (quarterly)
SIX
Wagner Electric
25c
Walker (H.), Gooderham & Worts
(quar.)
Preferred (quarterly).
Waltham Watch Co., prior preferred
50c
25c
(quar.)
Washington Ry. & Electric Co
SIX
$9
SIX
SIX
S2X
...
5% preferred (quar.)
5% preferred (quar.)
5% preferred (semi-ann.)
Weill (Raphael) & Co. pref. (semi-ann.)
Welch Grape Juice Co., preferred (quar.)
$4
SIX
Wheeling Electric
Wilson & Co.
Oct.
Feb.
Aug.
Aug.
Aug.
Aug.
Sept.
21
20
19
19
1
The
weekly statement issued by the
Clearing House is given in full below:
OF
ASSOCIATION
MEMBERS
FOR THE
OF
THE
WEEK
NEW
ENDED
10 Dec.
Dec.
*
Surplus
Oct.
20 Oct.
10
Sept. 21 Sept. 1
Sept. 15 Aug. 22
Sept. 15 Aug. 22
Oct.
Sept. 9
Aug. 15
Sept.
Aug. 15
Sept.
Dec.
Nov. 16
Sept.
Sept.
Extra
Dec.
Aug.
Aug.
Sept.
Sept.
Aug.
Oct.
Oct.
Sept.
CLEARING
SATURDAY,
AUG.
Payable |n stock.
e
/ Payable in
10
19
19
10
15
.
common stock.
h On account of accu¬
Payable in scrip,
} Payable In preferred stock.
mulated dividends.
<j
k Corn Products Refining Co., stock div. of l-25s sh. of Allied Mills
Inc., for each sh. of Corn Products Refining Co. held.
I Electric
Shareholding Corp., $6 conv. pref. opt. div. ser. ww., 44-1000th
common stock, or at the opt. of the holder SIX in cash.
of 1 share of
n
X share of Pacific So. Investors, Inc., com¬
stock for each share held.
mon
Blue Ridge Corp. $3 conv. pref., ser. 1929, 1-32 of one share of com.
stock,
o
.
Pacific Investors Corp.,
m
or at
the option of the holder
75c. cash.'
Life & Casualty Insurance Co. of Tenn.; a 33 1-3% stock
p Kobacker Stores, Inc.,
each share of preferred.
div.
pref. stock div. of one share of common for
American Cigar Co., stock dividend of l-40th of a share of American
common for each share of Amer. Cigar Co. held.
q
Tobacco class B
Payable in Canadian funds, and in the case of non-residents of Canada,
a tax of 5% of the amount of such dividend will be made
r
reduction of
a
Deposited Insurance Shares: ser. A & B stock div. of 2X % payable in
Holders have option of div. in cash based on liquidating valuo
s
trust shares.
Nov. 16
of shares.
u
Payable in U. S. funds,
x
Less tax.
y
Less depositary expenses.
w
A deduction has been made for expenses,
g
Per 100 shares.
Condition of the Federal Reserve Bank of
New
City
HOUSE
15,
1936
Net Demand
Deposits,
following shows the condition of the Federal Reserve
Bank of New York at the close of business Aug. 19,1936,
in comparison with the previous week and the corresponding
date last year:
Deposits,
Average
York
The
Time
Undivided
Capital
Nov.
(quar.)!
U.S. Playing Card Co.; previously reported as United Playing Card Co.
Aug.
1
Sept.
Aug. 31 Aug. 15
Profits
♦
Clearing House
Oct.
Sept.
__
Woolworth (F. W.) Co.
1
Sept. 15 Sept. 1
1
Sept. 15 Sept.
Sept.
1 Aug. 15
Sept.
1 Aug. 15
Sept.
1 Aug. 21
Sept. 21 Aug. 31
Sept.
1 Aug.24
Sept.
1 Aug.14
Sept. 15 Aug. 28
New York
YORK
(quarterly)
26
Sept.
Sept.
Sept.
Sept.
Sept. 10
pref."(quar.)
Nov.
26
Jan.
6%
Winstead Hosiery Co. (quarterly).....
15
Nov.
Co.
Whitman (Wm.) & Co., Inc.,
7% pref. (quar.)..
Weekly Return of the New York City
Clearing House
TATEMENT
Holders
When
Share
Sept.15
Sept. 15
►Sept. 21
Aug. 15
Aug. 15
Aug. 21
Sept, 15
Sept.15
Sept. 30
Oct.
J. RR. & Canal Co
United States
Extra
11
Dec.
Sept.
Sept.
United Light & Ry. Co.. 7%
pref.
United States
Sept. 11
Oct.
Jan.
United Gas Corp. $7 pref. (quar.)
United N
Per
of Record
United Dyewood, preferred
(quarterly)
Preferred (quarterly)
Average
Members
and
Aug. 19, 1936 Aug. 12, 1936 Aug. 21,1935
Assets—
Gold certificates on hand and due from
$
Bank of N. Y. & Tr. Co.
6,000,000
20,000,000
e77,500,000
20,000,000
90,000,000
/42,935,000
21,000,000
15,000,000
Bank of Manhattan Co..
National City Bank
Chemical Bk. <fc Tr. Co..
Guaranty Trust Co
Manufacturers Trust Co.
Cent. Hanover Bk. & Tr.
Corn Exch. Bank Tr. Co.
First National Bank
10,955,200
25,431,700
653,577,400
52,685,400
177,649,400
/34,011,900
63,661,200
16,662,900
90,750,600
59,102,000
3,871,500
122,927,400
3,440,500
69,091,300
2,724,200
8,385,100
22,744,400
7,873,900
8,595,100
10,000,000
50,000,000
4,000,000
103,964,300
500,000,
Irving Trust Co
Continental Bk. & Tr. Co
Chase National Bank...
Fifth Avenue Bank
Bankers Trust Co
25,000,000'
Title Guar. & Trust Co..
10,000,000
Marine Midland Tr. Co.
Com'l Nat. Bk. & Tr.Co.
5,000,000
12,500,000
7,000,000
Public N. B. <fe Tr. Co..
5,775,000'
New York Trust Co
Total.
*
As
526,174,300
per official reports:
companies, June 30,
1936.
130,819,000
395,926,000
al,439,165,000
463,730,000
61,424,790,000
477,593,000
766,832,000
247,168,000
524,173,000
517,119,000
47,142,000
cl,887,988,000
46,197,000
d810,342,000
17,384,000
89,797,000
329,141,000
76,644,000
78,462,000
834,141,100
9,770,412,000
12,481,000
33,666,000
161,883,000
10,456,000
36,684,000
96,256,000
13,832,000
22,454,000
3,542,000
422,000
2,363,000
54,824,000
42,568,000
"
474,000
2,987,000
25,610,000
1,381,000
43,842,000
565,725,000
t
3,145,661,000 3,220,518,000 2,737,074,000
1,149,000
1,627,000
1,753,000
48,718,000
74,215,000
71,201,000
Total reserves.....
3,218,489,000 3,296,486,000 2,786,941,000
United
Sates Treasury.!
Redemption fund—F. R. notes
Other cash
Bills discounted:
Secured
by
U. S.
Govt, obligations,
1,543,000
2,130,000
2,400,000
4,918,000
1,737,000
2,562,000
4,530,000
6,655,000
4,105,000
1,103,000
7,075,000
1,103,000
1,810,000
7,090,000
6,965,000
88,263,000
406,823,000
165,475,000
88,263,000
98,412,000
406,823,000
165,475,000
486,479,000
—
Total U. 8. Government securities..
660,561,000
660,561,000
739,318,000
673,269,000
675,409,000
752,198,000
direct and (or) fully guaranteed
Other bills discounted
Total bills discounted
Bills bought in open
...
market
Industrial advances
United States Government securities:
Bonds
—
Treasury notes
Treasury bills....
—-
154,427,000
'
.National, June 30, 1936; State, June 30,
e As of
Aug. 1, 1936.
Includes deposits in foreign branches as follows:
1936; trust
/As of July 21, 1936.
a
$240,562,000; b $80,307,000;
Other securities
Foreign loans on gold
C$90,678,000; d $29,009,000.
Total bills and securities
New
The
York "Times"
publishes regularly each week
and trust companies which
are not
members of the New York
Clearing House.
The
following are the figures for the week ended Aug. 14:
of
returns
a
number of banks
INSTITUTIONS NOT IN THE CLEARING HOUSE WITH THE CLOSING
OF BUSINESS FOR THE WEEK ENDED
FRIDAY, AUG. 14, 1936
NATIONAL AND STATE BANKS—AVERAGE
Gold held abroad
Due from
82,000
foreign banks
Federal Reserve notes of other banks...
Uncollected Items
Bank premises
All other assets
82,000
6,395,000
144,970,000
10,854,000
32,910,000
5,828,000
141,562,000
10,854,000
33,699,000
247,000
3,764,000
118,928.000
11,977,000
32,580,000
4,086,969,000 4,163,920,000 3,706,635,000
Total assets
FIGURES
Liabilities—
Loans,
Disc, and
<
Investments
Manhattan-
$
Grace National.....
Sterling National
Trade Bank of N. Y.
Other
Cash,
Notes
Res.
Dep.,
Dep. Other
N. Y. and
Banks and
Gross
Elsewhere
Trust Cos.
Deposits
S
Including
Batik
$
$
24,124,600
21,122,000
5,435,146
82,200
495,000
162,747
3,928,756
84,076
$
5,545,500
4,094,000
2,603,600
1,555,000
82,880
5,556,242
Brooklyn—
1,098,874
653,354
5.264,799
TRUST COMPANIES—AVERAGE FIGURES
Loans
Disc, and
Res. Dep.
Cash
N.
Invest.
Manhattan—
$
57,141,400
8,795,700
12,392,593
Empire
Fiduciary.....
Fulton
Lawyers
United States..
Y. and
Banks and
Gross
Trust Cos.
Deposits
$
$
*8,178,900
225,392
*4,142,826
*3,685,300
$
11,227,900
830,999
582,147
929,300
3,553,400
16,517,620
88,314,000
34,884,397
34,416,000
8,629,546
2,470,100
2,429,626
558!600
Brooklyn—
*
2,994,751,000 3,089,719,000 2,742,217,000
...
includes amount with Federal
ciary, $795,812 Fulton, $3,463,800;
2,836,000
2,508,586
Reserve
as
follows:
^.awyers, $9,768,300.
150,236,006
........
Empire, $6,662,000
Total liabilities
Ratio
%
68,527,500
10,380,406
11,674,374
20,791,500
40,461,800
75,278,360
203,000 118,459,000
40,917,134
,
Capital paid in
Surplus (Section 7)
Surplus (Section 13b)
Reserve for contingencies..
All other liabilities
Dep. Other
Elsewhere
19,896,600
29,015,300 *10,502,300
72,499,920 15,231,721
Federation
Brooklyn
Total deposits
Deferred availability items
People's National—
Kings County
'
28,641,200
24,284,000
1,112,483
F. R. notes in actual circulation
815,166,000
818,529,000
716,§17,000
Deposits—Member bank reserve acc't.. 2,733,685,000 2,762,499,000 2,559,558,000
U. S. Treasurer—General account...
99,445,000
20,170,000
30,426,000
31,587,000
Foreign bank
7,675,000
32,980,000
Other deposits
196,188,000
154,814,000
197,660,000
Fidu¬
F.
of
total reserves
to
134,836,000
50,194,000
50,825,000
7,744,000
8,849,000
6,587,000
118,285,000
59,498,000
49,964,000
6,863,000
7,500,000
5,791,000
4,086,969,000 4,163,920,000 3,706,635,000
to
deposit
and
R- note liabilities combined
Commitments
50,181,000
50,825,000
7,744,000
8,849,000
5,854,000
make
vances
industrial
84.4%
84.4%
80.6%
9,041,000
9.047,000
9,314.000
ad¬
t "Other cash" does not include Federal Reserve notes
or a
bank's
own
Federal
Reserve bank notes.
x
These
over
are certificates given by the United States Treasury for the gold taken
from the Reserve banks when the dollar was on Jan. 31. 1934, devalued from
100 cents to 59.06 cents,
these certificates being worth less to the extent of tne
difference, the difference Itself having been appropriated as profit by the Treasury
under the provisions of the Gold Reserve Ac of 1934.
1180
Financial
Chronicle
1936
Aug. 22,
Weekly Return of the Board of Governors of the Federal Reserve System
The following is
issued by the Board of Governors of the Federal Reserve System
showing the condition of the twelve Reserve banks at the close of business
for the System as a whole
week last year.
in comparison with the figures for the
The second table shows the
Reserve Agents and the Federal
Reserve banks.
returns
in
for the latest week
appear
COMBINED RESOURCES
our
The Federal
The comments of the Board of Governors of the Federal Reserve System
upon
the
FEDERAL
5,
RESERVE
BANKS AT THE CLOSE OF BUSINESS
1936 July 29, 1936 July 22, 1936 July 15. 1936 July
8,
AUG.
1936 July
1,
19,
1936
1936 Aug. 21,1935
$
hand & due from U.S.Treas.x
Redemption fund (F. R. notes)
Other cash *
Total
preceding weeks and with those of the corresponding
seven
department of "Current Events and Discussions
Aug. 19, 1936 Aug. 12, 1936 Aug.
on
Thursday afternoon, Aug. 20,
gives details regarding transactions in Federal Reserve notes between the
AND LIABILITIES OF THE
ASSETS
Gold ctfs.
on
The first table presents the results
Wednesday.
and liabilities separately for each of the twelve banks.
resources
Reserve note statement <third table following)
on
8,255,038,000 8,225,038,000 8,211,046,000 8,185,529,000 8,185,322,000 8,186,524,000 8,106,569,000 8,106,541,000 6,441,513,000
13,070,000
13,720,000
20,705,000
12,185,000
13,720,000
•11,663,000
12,542,000
12,542,000
12,949,000
289,980,000
282,433,000
227,630,000
288,635,000
303,084,000
293,440,000
287,652,000
271,008,000
266,238,000
8,550,541,000 8,528,738,000 8,513,401,000 8,500,276,000 8,490.947,000 8,486,718,000 8,390.119,000 8,385,728,000 6,689 848,000
reserves
Bills discounted:
Secured
by
U.
S.
obligations
Govt,
Other bills discounted
3,405,000
3,072,000
5,552, 000
2,311, 000
2,104,000
1,676,000
1,992,000
1,528,000
1,863,000
1,052,000
1,847,000
1,438,000
1,858,000
2,006,000
2,215,000
Total bills discounted.
6,477,000
7,863,000
3,960,000
3,668,000
3,391,000
2,899,000
3,296,000
4,221,000
7,106,000
3,094,000
28,662,000
3,094, 000
3,092,000
28,888,000
3,092,000
3,088,000
t29,584,000
29,573,000
3,084,000
29,457,000
3,085,000
29,500,000
3,077,000
29,785,000
4,695,000
29,284,000
direct and (or) fully guaranteed
Bills bought In open
market-
Industrial advances
U.
S. Government securities—Bonds
Treasury notes
3,646,000
3,460,000
324,721, 000
324,721,000
324,721,000
324,721,000
324,721,000
1,496,719,000 1,496,719, 000 1,496,719,000 1,496.719,000 1,496,719,000
608,787, 000
608,787,000
608,787,000
608,787,000
608,787,000
—
Treasury bills
28,782, 000
1,856,000
—
Total U. S. Government securities—
Other securities
—
290,255,000
315,672,000
315,673,000
315,673,000
,494,218,000 1,494,218,000 1,494,218,000 1,602.284,000
537.701,000
620.337,000
620,337,000
620,337,000
2,430,227,000 2,430,227, 000 2,430,227,000 2,430,227,000 2,430,227,000
,430,227,000 2,430,228,000 2,430,228,000 2.430,240,000
181, 000
181,000
181,000
181,000
181,000
181,000
181,000
181,000
Foreign loans on gold
Total bills and securities
2,468,641,000 2,470,147,000 2,466.348,000 12,466,752000 2,466,460,000 2,465,848,000 2,466,290,000 2,467,492,000 2,471,325,000
.
Gold held abroad
Due from foreign banks
219,000
_
Federal Reserve notes of other banks.
Uncollected Items
Bank premises
-—
All other assets..
Total assets...
-
219,000
21,540,000
589,851.000
48,054,000
43,644,000
23,348,000
598,183,000
48,055,000
44,152,000
221,000
22,540,000
547,616,000
48,056,000
44,190,000
221.000
24,185,000
553,019,000
48,055,000
145.282,000
225,000
28,268,000
591,182,1)00
48,055.000
44,275,000
229,000
25,884,000
681,238,000
48,055,000
43,499,000
229,000
18,821,000
598,237,000
4a.054.000
42,533,000
237,000
20,020,000
678,636,000
48,051,000
42,331,000
628,000
18,490,000
479.811,000
49,966,000
45.040,000
11,722,490,000 11,712,842,000 11,642,372,000 U,637,790.000 11,669,412,000 11,751,471,000 11,564.283,000 11,642,495,000 9,755,108,000
-
LIABILITIES
F. R. notes in actual circulation
3,988,055,000 3,983.473,000 3,979,814,000 3,951,101,000 (3,976,863,000 4,006,015,000 4,040,332,000 4,046,086.000 3,340,983,000
Deposits—Member banks' reserve account 6,228,518,000 6,116,084,000 6,004,796,000 6,016.170,000 5,935,131,000 5,871,746,000 5,814,251,000 5,589,134,000 5,291,497,000
U. S. Treasurer—General account
338,062,000
466,210.000
53,724.000
215,424,000
519,317,000
592,501.000
439,391,000
731,016,000
506,644,000
Foreign banks
86,438,000
22,802,000
90,126,000
71,040,000
57,158,000
61,415,000
60,100,000
55,192,000
60,321,000
Other deposits
250,309,000
207,161,000
251,437,000
249,675,000
240.676,000
238,445,000
205,713,000
201,277.000
202,795,000
Total deposits
6,785,505,000 6,790,893,000 6,764.902,000 6,780,214,000 6,754,308,000 6,730,060,000 6,584,011,000 6,576,619,000 5,575,184,000
Deferred availability items
601,610,000
Capital paid In
Surplus (Section 7)
Surplus (Section 13-B)
130,169,000
**145,501,000
27,088,000
34,236,000
10,326,000
Reserve for contingencies
All other liabilities
-
Total liabilities
Ratio
of
total
reserves
591, 154,000
130, 177,000
145, 501,000
26, 513,000
34, 141,000
550,985,000
130,205,000
10, 990,000
10,347,000
145,501,000
26,513,000
34,105,000
559,363,000
130 170,000
145,501,000
26,513,000
34,105,000
10,824,000
591,841,000
129,790,000
145,501,000
26,513,000
34,105,000
129
018,000
822,000
145 501,000
26 513,000
34 ,111,000
10,491,000
10, 431,000
593,077,000
130,988,000
145,501,000
673,759,000
130,947.000
145,501,000
483,442,000
26,513,000
26,513,000
34,117,000
22,621,000
8,953,000
10,479.000
34.117.000
9,744,000
146,730,000
144,893,000
30,776,000
11,722,490,000 11,712,842,000 11,642,372,000 11,637.790.000 11,669,412,000 11,751,471,000 U,564,283,000 11.642,495,000 9,755,108.000
to
deposits
and
F. R. note liabilities combined
79.4%
79.2%
79.2%
79.2%
79.1%
79.0%
79.0%
78.9%
75.0%
23,271,000
23,394,000
23,453,000
23,711,000
23,771,000
23,839,000
23,844,000
23,870,000
24,779,000
4,534,000
Commitments to make industrial advances
6,097,000
2,360,000
20,000
1,959,000
17,000
1,681,000
2,500,000
622,000
61,000
725,000
Maturity Distribution of Bills and
<
Short-term Securities-—
$
.
.
1-15 days bills discounted
654,000
622,000
2,028,000
31,000
673,000
278,000
658,000
106,000
137,000
194,000
359,000
148,000
6,477,000
16-30 days bills discounted
31-60 days bills discounted
Over 90 days bills discounted
Total bills discounted
1-15 days bills bought in open market.—
813,000
205,000
207,000
7,863,000
3,960,000
3,668,000
3,391,000
2,899,000
3,296,000
4,221,000
7,106,000
1,874,000
1,625,000
352,000
837,000
270,000
234,000
664,000
270,000
1,474,000
763,000
695,000
92,000
2,095,000
16,000
J,660,000
2,028,000
866,000
3,084,000
3,085,000
3,077,000
4,695,000
1,502,000
1,429,000
1,482.000
1,270,000
261,000
561,000
647,000
1,678,000
283,000
768,000
4,000
233,000
880,000
236,000
133,000
1,809,000
1,857,000
2,075,000
352,000
769,000
244,000
1,727,000
3,094,000
3,092,000
3.092,000
3,088,000
1,472,000
1,395,000
1,434,000
294,000
Total bills bought in open market
1-15 days industrial advances
16-30 days industrial advances
31-60 days Industrial advances
880,000
122,000
283,000
3,094,000
10-30 days bills bought In open market—
31-60 days bills bought in open market
61-90 days bills bought In open marketOver 90 days bills bought in open market.
294,000
674,000
876,000
1,550,000
179,000
575,000
930,000
26,214,000
1,716,000
172,000
560,000
882,000
26,243,000
29,448,000
29,573,000
279,000
684,000
799,000
25,413,000
Over 90 days Industrial advances
Total industrial advances
1-15 days U.S. Government securities—
16-30 days U. S. Government securities—
31-60 days U. S. Government securities—
25,543,000
589,000
948,000
25,638,000
28,662,000
61-90 days industrial advances
28,782,000
28,888,000
36,956,000
81,016,000
87,452,000
61-90 days U. S. Government securities—
66,816,000
Over 90 days U. S. Government securities
2,147,987,000
Total U. S. Government securities
1-15 days other securities
16-30 days other securities
34,000
873,000
600,000
463,000
256,000
624,000
61-90 days bills discounted
2,290,000
28,000
4,000
963,000
247,000
.
"
5,404,000
650,000
777,000
48,000
52,000
392,000
715,000
660,000
385,000
658,000
275,000
288,000
411,000
670,000
623,000
840,000
26,157,000
757,000
26,280,000
26,834,000
25,553,000
29,457,000
29,500,000
29,785,000
29,284,000
508,000
28,459,000
28,580,000
28,225,000
31,870,000
27,979,000
28,827,000
26,341,000
31,956,000
36,956,000
20,163,000
28,580,000
28,827,000
28,459,000
27,979,000
123,716,000
129,459,000
117,972,000
60,415,000
109,576,000
65,536,000
69,886,000
79,282,000
70,804,000
85,659,000
123,716,000
51,360,000
87,452,000
130,275,000
129,459,000
2,144,407,000 2,164,428,000 2,166,814,000 2,168,244,000 2,172,780,000 2,180,913,000 2,189,045,000 2,217,271,000
31,956,000
37,930,000
130,275,000
2,430,227,000 2,430,227,000 2,430,227,000 2,430,227,000 2,430,227,000 2,430,227,000 2,430.228,000 2,430,228,000 2,430,240,000
-
-
31-60 days other securities
-
61-90 days other securities
Over 90 days other securities
181,000
181,000
181,000
181,000
181,000
181,000
181,000
181,000
18J.000
Total other securities.
181,000
181,000
181,000
181,000
181,000
181,000
181,000
Federal Reserve Notes—
Issued to F. R. Bank by F. R. Agent—.
Held by Federal Reserve Bank-.
r
In actual circulation
4,297,480,000 4,292,938,000 4,284,874,000 4,291.673,000 4,308.344,000 4,331,177,000 4,345,447,000 4,304,059,000 3,616,100,000
340,572,000
309.425,000
305,060,000
309,465,000
331,481,000
305,115,000
257,973,000
275,117,000
325,162,000
3,988,055,000 3,983,473,000 3,979,814,000 3,951,101,000 3,976,863,000 4,006,015,000 4,040,332,000 4,046,086,000 3,340,983,000
Collateral Held by Agent as Security far
Notes Issued to Bank—
Gold ctfs. on hand & due from U. S. Treas.
By eligible paper—.
.
U.[S. Government securities.—.——
Total
collateral..
4,301,338,C'JO 4,299,338,000 4,289,838,000 4,313,023,000 4,319,023,000 4,348.023,000 4,342,023,000 4,271,523,000 3,443,914,000
2,378,000
5,038,000
6,507,000
2,634,000
2,144,000
2,043,000
2,744,000
1,647,000
5,638,000
53,000,000
73,000,000
73,000,000
73,000,000
47,000,000
67,000,000
58,000
39,000,000
207,000,000
4,379,376,000 4,378,845,000 4,365,472,000 4,368,401,000 4,379,167,000 4,388,670,000 4,391,066,000 4,341,267,000 3,656,552,000
•"Other cash" does not include Federal Reserve notes,
x
Jan.
t Revised figure.
These are certificates given by the U. S. Treasury for the gold taken over from the Reserve banks
when the dollar
31,1934. these certificates being worth less to the ettent of the llfferenoe, the difference Itself having been appropriated
of the
Gold
Reserve Act of
1934.
•
was
as
devalued from 100 cents to 59.06 cents oi
profits by the Treasury under the provision!
Volume
143
Chronicle
Financial
1181
Weekly Return of the Board of Governors of the Federal Reserve System (Concluded)
STATEMENT
WEEKLY
OF
OF THE 12 FEDERAL RESERVE BANKS AT CLOSE OF BUSINESS AUG. 19 1936
RESOURCES AND LIABILITIES OF EACH
Two Ciphers (00) Omitted
Federal Reserve Bank of—
Total
Boston
RESOURCES
9
9
Cleveland Richmond
Phila.
New York
Atlanta
Chicago
9
9
St.
Dallas
<Sfan Fran.
9
Louis Minneap. Kan. City
9
'
Gold certificates
on
hand and due
9
9
9
9
9
9
9
•
8,255,038,0 503,661,0 3,145,661,0 409,854,0 614,997,0 276,642,0 228,578,0 1,641,681,0 224,338,0 190,924,0 261,356,0 163,364,0 593,982,0
367,0
1,941,0
922,0
439,0
400,0
199,0
865,0
840,0
Redemption fund—F. R. notes..
528,0
2,956,0
13,070,0
1,986,0
1,627,0
Other cash •
6,818,0 14,261,0
7,304,0 12,654,0
33,335,0
13,364,0
282,433,0 34,756,0
71,201,0 37,548,0 26,101,0 14,452,0 10,639,0
from U. S. Treasury
,
'
8,550,541,0 540,403,0 3,218,489,0 448,267,0 641,537,0 291,494,0 242,173,0 1,675,544,0 238,542,0 198,427,0 274,932,0 170,549,0 610,184,0
Total reserves...
Bills discounted:
Sec. by U. 8. Govt,
■
obligations,
3,405,0
75,0
21,0
23,0
56,0
268,0
454,0
100,0
74,0
30,0
45,0
171,0
211,0
75,0
96,0
79,0
722,0
111,0
121,0
3,606,0
108,0
704,0
386,0
87,0
61,0
218,0
532,0
1,166,0
87,0
907,0
87,0
1,804,0
1,557,0
1,668,0
17,104,0
78,839,0
13,142,0
60,575,0
24,639,0
38,630,0
178,054,0
72,423,0
17,361,0
32,067,0
80,018,0
32,548,0
11,571,0
53,334,0
21,693,0
16,425,0
75,708,0
30,794,0
12,502,0 28,392,0
57,628,0 130,863,0
23,440,0 53,228,0
660,561,0 211,180,0 235,795,0 128,010,0
98,356,0
289,107,0 129,927,0
86,598,0 122,927,0
181,0
93,570,0 212,483,0
673,269,0 216,881,0 237,742,0 131,948,0
99,243,0
291,297,0 130,642,0
87,825,0 124,181,0
95,936,0 214,480,0
2,130,0
2,400,0
161,0
3,072,0
Total bills discounted
160,0
137,0
11.0
321,0
1
6,477,0
161,0
4,530,0
321,0
3,094,0
28,662,0
225,0
1,103,0
7,075,0
317,0
294,0
3,098,0
5,063,0
1,482,0
324,721,0
21,607,0
1,496.719,0
Bills bought In open market
Industrial advances
'
V
direct & (or) fully guaranteed
Other bills discounted
99,596,0
40,510,0
...
11,0
U. S. Government securities:
Bonds
Treasury notes
Treasury bills
608,787,0
88,263,0 28,217,0 31,507,0
406,823,0 130,061,0 145,220,0
165,475,0 52,902,0 59,068,0
Total U. 8. Govt, securities. 2,430,227,0 161,713,0
Other securities
181,0
Total bills and securities
Due from
...
2,468,641,0 165,197,0
foreign banks
219,0
21,540,0
589,851,0
48,054,0
Fed. Res. notes of other banks...
Uncollected items
Bank premises
All other resources
3,113,0
471,0
43,644,0
Total resources
6,395,0
144,970,0
10,854,0
32,910,0
60,943,0
21,0
6,525,0
3,389,0
1,422,0
50,477,0
2,919,0
1,721,0
46,145,0
5,079,0
10,0
1,494,0
57,118,0
21,0
728,0
82,0
17,0
336,0
1,112,0
26,0
8,0
1,655,0
20,240,0
1,991,0
80,604,0
4,830,0
707,0
"
2,284,0
1,472,0
3,0
1,060,0
18,038,0
1,531,0
356,0
6,0
561,0
6,0
1,602,0
31,851,0
3,360,0
462,0
23,015,0
1,526,0
269,0
15,0
2,384,0
32,160,0
3,580,0
521,0
2,054,999 398,097,0 307,240,0 436,394,0 291,862,0 863,324,0
11,722,490,0 770,480,0 4,086,969,0 720,510,0 946,158,0 479,382,0 367,075,0
liabilities
F. R. notes in actual circulation. 3,988,055,0 355,584,0
4,0
1,912,0
24,290,0
2,453,0
254,0
916,751,0 170,107,0 125,960,0 152,989,0
818,529,0 293,992,0 389,811,0 183,217,0 175,766,0
84,994,0 320,355,0
Deposits:
973,407,0 162,441,0 128,439,0 221,512,0 146,838,0 445,084,0
13,785,0
18,479,0
18,379,0 16,513,0
26,842,0 18,812,0
6,209,0
2,610,0
2,160,0
2,609,0
2,700,0
10,439,0
3,964,0
1,996,0 21,988,0
7,488,0
281,0
2,051,0
Member bank reserve account. 6,228,518,0 309,102,0 2,733,685,0 329,260,0 433,375,0 208,166,0 137,209,0
U. 8. Treasurer—Gen'l acc't..
16,598,0 14,792,0
8,840,0 20,770,0
215,424,0 11,188,0
30,426,0
Foreign bank
90,126,0
32,980,0
3,651,0
197,660,0
1,743,0
3,150,0
2,727,0
3,141,0
6.785,505,0 330,601,0 2,994,751,0 348,213,0 467,171,0 231,451,0 158,292,0 1,012,739,0 191,441,0 152,942,0 240,915,0 169,923,0 487,066,0
Total deposits
Deferred availability items
Capital paid in
Surplus (Section 7)
60L610.0
130,169,0
...
!
Surplus (Section 13-B)
Reserve for contingencies..».
49,966,0
284,0
12,221,0
13,406,0
4,231,0
3,000,0
4,246,0
5,616,0
3,448,0
1,282,0
108,0
81,795,0
12,136,0
21,350,0
1,391,0
7,573,0
1,264,0
19,630,0
4,724,0
5,186,0
57,881,0
12,573,0
14,371,0
1,007,0
3,111,0
233,0
45,163,0
5,854,0
1,513,0
169,0
10,326,0
Total liabilities
150,236,0
50,181,0
50,825,0
7,744,0
8,849,0
60,429,0
9,408,0
9,902,0
2,874,0
145,601,0
27,088,0
34,236,0
All other liabilities...
Commitments
3,960,0
8,279,0
4,747,0
8,370,0
251,437,0
Other deposits
6,660,0
2,555,0
216,0
754,0
26,418,0
3,761,0
4,655,0
546,0
894,0
275,0
19,132,0
2,966,0
3,149,0
1,003,0
1,442,0
32,689,0
3,948,0
3,613,0
1,142,0
840,0
646.0
258,0
25,963,0
3,816,0
3,783,0
1,252,0
1,328,0
803,0
32,308,0
10,189,0
9,645,0
1,696,0
1,849,0
216,0
2,054,999,0 398,097,0 307,240,0 436,394,0 291,862,0 863,324,0
11722 490,0 770,480,0 4,086,969,0 720,510,0 946,158,0 479,382,0 367,075,0
to make industrial
advances
2,704,0
23,271,0
•"Other cash"
does not Include Federal
Reserve notes.
91,0
1,745,0
77,0
282,0
2,313,0
1,379,0
282,0
9,041,0
•
512,0
394,0
4,451,0
,
FEDERAL
RESERVE NOTE
STATEMENT
Two Ciphers (00) Omitted
Federal Reserve Agent at—
New York
Boston
Total
Federal Reserve notes:
Cleveland Richmond
Phila.
S
S
$
S
S
Atlanta
St.
Chicago
$
Kan. City
San Fran
Dallas
$
Louis Minneap
$
$
$
$
■
$
$
95,273,0 361,091,0
923,755,0 311,496,0 411,331,0 195,316,0 194,935,0
12,099,0 19,169,0
17,504,0 21,520,0
105,226,0
950,841,0 178,925,0 130,154,0 165,447,0
818,529,0 293,992,0 389,811,0 183,217,0 175,766,0
916,751,0 170,107,0 125,960,0 152,989,0
84,994,0 320,355,0
4,301,338,0 396,000,0
161,0
5,038,0
In actual circulation
4,297,480,0 378,916,0
309,425.0 23,332,0
3,988,055,0 355,584,0
Issued to F.R. Bk. by F.R. Agt
Held by Fed'l Reserve Bank..
935,706,0 314,000,0 414,000,0 197,000,0 161,000,0
75,0
211,0
171,0
3,146,0
321,0
45,000,0
966,000,0 155,632,0 132,000,0 165,000,0
96,0
74,0
3,000,0
25,000,0
96,000,0 369,000,0
111,0
672,0
938,852,0 314,321,0 414,171,0 197,211,0 206,075,0
966,000,0 180,728,0 132,000,0 168,074,0
96,672,0 369,111,0
34,090,0
,8,818,0
4,194,0
12,458,0
10,279,0
40,736,0
Collateral
held by Agent as se¬
curity for notes issued to bks.
Gold certificates
on
hand
and
due from U. S. Treasury
Eligible
paper
U. 8. Government securities..
Total collateral
73,000,0
4,379,376,0 396,161,0
Weekly Return for the Member Banks of the Federal Reserve System
Following is the weekly statement issued by the Board of Governors of the Federal Reserve System, giving the principal
items of the resources and liabilities of the reporting member banks in 101 leading cities from which weekly returns are obtained.
These figures are always a week behind those for the Reserve banks themselves.
The comment of the Board of Governors of
the Federal Reserve System upon the figures for the latest week appears in our department of "Current Events and Discussions,"
immediately preceding which we also give the figures of New York and Chicago reporting member banks for a week later.
The statement beginning with Nov. 0.
also been revised further
In "Other loans."
so as to
1935,
covers
show additional items.
reporting banks in 101 leading cities, as it did prior to the banking holiday in 1933, Instead of 91 cities, and has
The amount of "Loans to banks" was included heretofore partly in "Loans on securities—to others" and partly
The item "Demand deposits—adjusted" represents the total amount of
demand deposits standing to the credit of individuals, partnerships, corporations,
associations, States, counties, municipalities, &o., minus the amount of cash ltem3 reported as on hand or In process of collection.
The method of computing the item "Net
changed in two respects In accordance with provisions of the Banking Act of 1935:
First, it includes United States Government
deposits, against which reserves must now be carried, while previously these deposits required no reserves, and, second, amounts due from banks are now deducted from
gross demand deposits, rather than solely from amounts due to banks, as was required under the old law.
These changes make the figures of "Net demand deposits" not
demand deposits," furthermore, has been
comparable with those shown prior to Aug. 23,1935.
The item "Time deposits" differs in that it formerly included a relatively small amount of time deposits of other banks,
which are now Included in "Inter-bank deposits."
The item "Due to banks" shown heretofore included only demand balances of domestlo banks.
The Item "Borrowings"
Figures are shown also for "Capital account," "Other
specified, less oash items reported as on hand or in process
represents funds received, on bills payable and rediscounts, from the Federal Reserve banks and from other sources.
assets—net," and "Other liabilities."
By "Other assets—net" is meant the aggregate of all assets not otherwise
of collection which have been deducted from demand deposits.
ASSETL AND LIABILITIES OF WEEKLY REPORTING MEMBER BANKS IN
101 LEADING CITIES, BY
DISTRICTS, ON AUG. 12 1936 (In Millions of Dollar,
1
Federal Reserve District—
Total
ASSETS
$
Atlanta
Chicago
9
Cleveland Richmond
9
St.
Louis Minneap. Kan. City
Boston
New York
Phila.
9
$
S
$
1,230
9,485
1,189
1,831
637
548
3,048
9
1
3
5
42
6
1
69
Dallas
San Fran.
'
Loans aod Investments—total
Loans to
i
.
22,324
•'
%
9
9
9
647
391
9
694
9
473
2,151
3
3
12
40
okers and dealers:
w
York City
Loans on»»u ritles to
2
3
909
others
12
873
9
210
In New York City
OutsideN?
26
77
21
11
2,019
148
832
148
216
54
201
31
47
321
46
128
25
6
6
5
38
8
9
28
1
21
1,146
82
245
63
183
24
24
69
43
6
17
23
367
64
3
33
2
4
2
9
7
187
208
100
132
490
118
108
142
136
368
318
874
305
207
1,619
226
175
262
190
688
(except
banks)
Acceptances and oom'l paper bought.
Loans on real estate.
65
'
Loans to banks
Other loans
U. 8. Govt, direct obligations....—
Obligations fully guar, by U. 8. Govt.
Other securities
Reserve with Federal Reserve Bank..
307
1.387
429
3,683
9,380
1,277
3,315
4,087
>
3
»
.
«.
_
„
„
168
1
19
99
68
61
39
151
58
15
55
31
165
1,307
317
261
73
80
420
111
46
135
49
358
231
4,855
516
158
2.447
214
89
276
295
139
73
769
109
72
141
383
123
69
15
33
18
11
57
11
5
12
10
19
Balance with domestlo banks
2,408
115
206
154
237
144
142
452
129
96
300
180
253
Other assets—net
LIABILITIES
1,308
77
530
87
112
39
39
103
24
17
24
27
229
14,752
5,021
973
6,750
754
1,013
401
306
2,212
389
263
491
362
838
288
967
275
713
197
177
815
179
121
147
120
1,022
821
12
230
71
77
43
51
148
11
3
22
37
116
5,958
236
2,495
312
357
217
186
880
248
133
421
180
293
Cash In vault
Demand deposits—adjusted
Time deposits
United States Government deposits..
Inter-bank deposits:
Domestic banks
414
"
10
378
3
1
1
7
Other liabilities.
824
23
357
22
13
30
7
28
9
4
2
4
325
Capital acoount
3,485
234
1,557
222
334
89
85
339
84
56
88
76
321
Foreign banks
Borrowings
3
13
1
3
Aug. 22, 1936
1182
Stock and Bond Sales—New York Stock Exchange
YEARLY
DAILY, WEEKLY AND
Occupying Altogether Sixteen Pages—Page One
sales are disregarded in the day's
year.'
NOTICE—Cash and deferred delivery
of such sales In computing
range, unless
taken
they are the only transactions of the day. No account is
the range for the
■
United States Government Securities on the New
Transactions at the New York Stock Exchange,
York Stock Exchange
Daily, Weekly and Yearly
Below
furnish
we
a
daily record of the transactions in
Treasury certificates on the
and
bonds
a
point.
787,000
883,000
487,000
1,480,020
6,113,000
7,678,000
985,000
846,000
7,483,000
9,509,000
$34,484,000
$4,857,000
$3,250,000
$42,591,000
790,750
1,006,430
$422,000
706,000
1,074,000
7,040,000
832,610
...
Tuesday
Wednesday
962,000
Friday
...
Total.
118.23
118.25
118.29
Sales at
118.20
118.23
118.24
118.26
118.26
118.23
118.24
118.26
118.26
Exchange
7,776,000
8.054,000
New York Stock
118.22
Low.
Close
6,160,000
Jan. 1 to Aug. 21
Week Ended Aug. 21
118.22
[High
Sales
$3,609,000
$2,756,000
5,282,000
5,615,000
.
4^8, 1947-52
Bond
$431,000
172,000
1,087,000
227,000
Thursday
Treasury
Total
States
Bonds
Stale,
5,438,130
Monday
Daily Record of U. S. Bond Prices Aug. 15 Aug. 17 Aug. 18 Aug. 19 Aug. 20 Aug. 21
United
For'n Bonds
Miscell
Bonds
366,320
Saturday
Quotations after decimal point represent one or more 32ds
and
Shares
21 1936
Aug.
New York Stock
Exchange.
of
Number of
Week Ended
Municipal <Sk
Railroad
Stocks,
Federal Farm Mortgage Corporation's
Home Owners' Loan,
,
118.26
'mmmm
6
6
12
25
108.16
108.14
108.18
108.18
108.17
108.16
1935
41
High
1936
1935
1936
Total sales in $1,000 units...
Low.
108.16
108.14
108.14
108.16
108.16
108.16
Close
108.16
108.14
108.17
108.16
108.17
108.16
Total sales in $1,000 units...
8
1
31
7
2
23
High
113.25
113.26
113.25
113.29
113.29
113.28
Low.
113.25
113.23
113.25
113.29
113.29
113.25
113.29
113.29
10,433,050
$3,250,000
4,857,000
34,484,000
$24,280,000
$196,373,000
7,718,000
40,904,000
212,940,000
250,764,000
1,817,447,000
1,385,443,000
$42,591,000
$72,902,000
$2,226;760,000
$2,127,256,000
113.28
113.24
188,879,252
314,689,269
5,438,130
Stocks—No. of shares.
3^8, 1943-45
|
4s, 1944-54
Close
113.25
100
Total sales in $1,000 units...
Low.
112
111.31
Close
3J*s, 1946-56
112
112.2
112
112.2
State and foreign
Railroad and industrial
113.28
Total
56
5
10
112.7
mmmm
mm rn
....
mmmm
'mmmm
112.7
mmmm
mmmm
"mmmm
112.7
mmmm
m
3
Total sales in $1,000 units...
250
7
mmmm
High
108.27
108.27
108.27
mmmm
108.29
108.29
Low.
108.27
108.25
108.27
mmmm
108.29
108.29
Close
108.27
108.25
108.27
108.29
108.29
Total sales in $1,000 units...
1
15
2
1
8
.
3HS, 1943-47
m
mmmm
mmm
mmmm
mmmm
High
105
105.1
105.4
10~5~6
105.3
105
104.30
105.4
105.6
105.3
105
105.1
105.4
105.6
are
daily closing averages of representative
the
stocks and bonds listed on the
105.2
Close
Stock and Bond Averages
Below
105.5
Low.
3s, 1961-55-
as
New York Stock Exchange
compiled by Dow, Jones & Co.:
105.5
105.3
1
20
26
1
2
12
High
105.27
105.27
105.28
105.31
105.31
105.30
Low.
105.27
105.27
105.28
105.28
105.29
105.27
Close
105.27
105.27
105.28
105.29
105.30
105.27
Total sales in $1,000 units...
6
7
9
18
22
56
108.10
108.10
Total sales in $1,000 units
3s. 1946-48
108.7
108.9
108.9
108.7
108.7
mmmm
108.9
108.7
108.9
mmmm
High
108.9
Low.
Close
2X*. 1940-43
,
10
Total sales in $1,000 units...
High
2
2
108.28
....
108.28
108.28
Close
108.28
108.28
Total sales in $1,000 units.-..
1
rnm^m
Close
59.07
106.90
111.40
89.88
106.16
103.59
60.91
107.06
111.50
90.60
106.15
103.83
108.31
61.20
107.01
111.51
90.56
106.26
109
103.84
Aug. 18.
165.42
'53.53
34.61
60.87
106.94
111.61
90.41
106.20
Aug. 17.
165.38
53.61
34.53
60.86
107.01
111.51
90.51
106.25
103.82
Aug. 15.
165.86
53.98
34.76
61.13
106.93
111.53
90.76
106.29
103.88
109
109
6
1
106.24
106.25
106.27
13
106.16
m
106.12
106.16
mm
106.12
mmm
-
106.16
m
««.-
5
mmmm
4
12
52
m
a.
106.19
mm
106.19
mmmm
106.19
mmmm
m
m m
m
5
108.27
108.27
«...
United States Treasury
25
■
mmmm
Rates
109.3
109.1
109.1
108.30
109.3
Bid
21
108.4
108.8
mmmm
108.6
108.9
108.4
108.3
108.4
mmmm
108.6
108.5
108.4
108.3
108.8
mmmm
108.6
108.5
44
3
High
102.25
102.26
102.29
102.29
102.30
103
Low.
102.25
102.24
102.26
102.28
102.28
102.27
102.28
102.30
102.27
Close
102.25
26
102.24
Low.
-
Close
mm
---
+
m
102.29
104.6
104.7
104.5
104.5
104.6
104.4
104.7
104.8
High
mmmm
Low.
mmmm
Close
—
5
1
4
9
102.12
102.13
102.14
102.15
102.15
102.9
102.10
102.12
102.11
102.13
102.13
102.14
102.15
102.13
12
8
13
27
24
«.--
---
101.25
High
2%b
.
101.22
101.23
101.24
101.24
101.24
Low.
1951-54
101.21
101.19
101.22
101.23
101.22
101.21
101.24
101.21
Close
101.21
3>*s, 1944-64
58
71
Federal Farm Mortgage
104.18
mmmm
104.15
mmmm
104.18
Jan. 27 1937.
Feb.
7 1936
0.15%
0.15%
0.15%
0.15%
Oct.
104.18
1
103.15
103.19
103.20
103.19
103.15
103.16
103.19
«.
m
103.15
103.19
103.20
mm
m
27
1937
14 1936
0.15%
Mar.
211936
0.15%
Mar. 10 1937
28 1936
0.15%
0.20%
0.20%
0.20%
0.20%
0.20%
Mar. 17 1937
4 1936
Nov. 10 1936
Nov. 18 1936
Nov. 25 1936
2 1936
Dec.
Dec
.
9 1936
Deo.
Dec.
23 1936
Mar. 31
6 1937
1937
7 1937
Apr.
Apr.
14 1937
Apr. 21 1937
Apr. 28 1937,
May
5 1937
May
12 1937
May
0.20%
0.20%
0.25%
Dec. 30 1936
Jan.
Mar. 24 1937
0.20%
0.20%
16 1936
52
m
m
m
104.6
104.5
104.7
104.8
mmmm
104.4
104.5
104.7
104.6
104.6
104.5
104.7
19 1937
Quotations for United States Treasury Certificates of
Indebtedness, &c.—Friday, August 21
Figures after decimal point represent one or more 32ds of
104.8
mmmm
«.
m
m
5
16
mmmm
m
25
m m
mmmm
mm -
at
mrnmm
mmmm
Close
mmmm
m-mmm
point.
102.77
Dec. 15 1939—
1 X%
6
June 15 1941...
Mar. 15 1940...
Total sales in $1,000 units...
1H%
ix%
IX %
IX %
IX %
IX %
IX %
15 1939...
2H%
Mar. 15 1939-..
High
Low.
103.7
Close
103.10
103.11
103.12
Total sales in $1,000 units...
3
127
103.14
Mar. 15 1941
103.10
June 15 1940--.
103.13
103.11
Sept. 15 1936--.
29
223
5
103.11
mmmm
103.12
103.13
103.7
103.9
103.10
Bid
Asked
Rate
Maturity
Bid
Asked
2X%
2%%
2 H%
104.1
104.3
103.17
103.19
101.24
101.26
i%
104.19
104.21
101.25
101.27
3%
102.8
102.27
mmmm
103.10
Int.
Int.
Rate
Maturity
102.27
mmmm
mmmm
mmmm
a
5
11
mmmm
at a.*.
mmmm
Home Owners' Loan
3
Oct.
103.19
4
m'm
mm
■
mmmm
,
0.25%
0.25%
0.25%
0.30%
0.30%
0.30%
0.30%
0.30%
0.30%
0.30%
0.30%
0.30%
0.30%
0.30%
0.30%
Feb. 24 1937
Oct.
103.19
14
mum*, m
mmmm
3s, series A, 1944-52
Feb. 10 1937.
Feb. 17 1937.
104.21
1
Low.
Home Owners' Loan
0.25%
0.25%
0.25%
3 1937.
104.21
104.14
•
Close
25*8, 1942-47
104.14
25
mmmm
m.m •
104.15
mmmm
mmmm
«.
at
High
Total sales in $1,000 units...
Federal Farm Mortgage
High
Jan. 20 1937.
0.15%
•
High
101.22
101.23
101.25
101.27
101.27
101.27
Low.
101.22
101.22
101.24
101.25
101.26
101.22
101.23
101.25
101.27
101.27
20
8
5
60
101.27
101.28
101.25
101.28
101.27
101,24
101.27
101.28
101 27
1
31
11
1
1 1938...
100.24
100.26
Feb.
101.24
101.26
Dec.
101.10
101.12
June 15 1938
101.16
101.18
Feb.
15 1937—
100.26
100.28
Apr.
15 1937—
101.11
101.13
Mar. 15 1938
102
102.2
Sept.15 1937...
103.13
103.15
15 1936.
101.27
101.24
Sept. 15 1938...
..
:s%
June
FOOTNOTES FOR NEW YORK
Home Owners' Loan
High
101.22
Low.
101.22
Close
101.22
Total sales in $1,000 units...
5
2J*s. 1942-44
•
•'
a.--
-a.--
1
•
Bid and asked prices; no sales on
t Companies reported In receivership.
.'
a
bonds.
above
table
includes
only
sales
of
coupon
Transactions in registered bonds were:
10 Treas 3?*s 1946-56..
;
Deferred
n
Note—The
this day.
New stock,
r
delivery
Cash sale.
x
112.2
to 112.2
Ex-dlvidend.
V
Ex-rlghts.
*
102.10
104.11
104.13
103.18
103.20
14
101.24
15 1940...
101.15
101.26
11
Deo.
—
101.13
101.24
Close
Total sales in $1,000 units...
25*8, series B, 1939-49-.
Asked
0.25%
104.21
Low-
3s, 1942-47
•
0.15%
73
104.14
mmmm
Close
Total sales in $1,000 units...
101.23
307
104:15
•
Low.
Low.
101.24
19
mmmm
4
High
Close
Toted sales in $1,000 units...
Federal Farm Mortgage
High
3s, 1944-49
101.22
---
Total sales in $1,000 units...
Federal Farm Mortgage
2 1936
Sept. 9 1936
Sept. 16 1936
Sept. 23 1936
Sept. 30 1936
Nov.
104.7
104.8
104.5
6
102.11
-
13 1937
Jan.
0.15%
Oct.
171
63
6
104.5
104.5
104.4
3
447
29
104.7
High
12
Bid
Asked
Aug. 26 1936
Sept.
Total sales in $1,000 units...
Total sales in $1,000 units...
Bills—Friday, August 21
for discount at purchase.
109.2
30
5
mmmm
3
are
109.2
108.30
Close
108.4
quoted
mmmm
108" 30
mmmm
Low.
Total sales in $1,000 units...
103.79
106.22
4
106.12
High
2J*s, 1948-51
Total
34.77
106.22
3
—•
Bonds
34.54
mmm
mmmm
Total sales in $1,000 units
ties
106.22
108.27
2KB. 1945-47
Rails
33.51
106.29
Close
2KB. 1955-60
Rails
54.07
106.24
Total sales in $1,000 units...
3>*s, 1944-46
trials
53.63
106.27
—
Low.
40
joads
Stocks
51.84
106.25
....
High
Utili¬
ties
triads
166.04
106.25
m
Total sales in $1,000 units...
10
Grade
165.59
106.22
Low.
33*s, 1941
Second
Grade
160.80
106.26
a.-..
Close
First
Indus¬
Aug. 19.
106.22
High
3Hs. 1949-52
10
70
Aug. 20.
106.22
-
.
Total sales in $1,000 units...
Total
Aug. 21.
1
---
•
Low.
3^8, 1946-49
20
Utili¬
109
2
-a.-.-
High
-
20
Rail-
108.10
7
mmmm
10
30
Indus-
108.10
109
mmmm
10
Date
108.10
mmmm
•
Bonds
Stocks
108.10
108.28
Low.
3Hb, 1941-43
$491,049,000
'
4
7
High
Bonds
Government
STOCK PAGES
Abbott,
Proctor
consolidation of
Members
and other
Exchange
NEW YORK
LOW
CHICAGO
HIGH
SALE PRICES—PER
Aug. 15
Aug. 17
S per share
*53
5612
Tuesday
Aug. 18
$ per share
*54
56i2
*54
18
1878
26i4
5612
214
*4lg
*95
S per share
Shares
1912
1938
2614
2l4
75U
414
$ per share
2l4
2i4
*2512
2i4
76
*4i8
75
412
*95
75
75i4
414
*95
438
1234
1958
2534
900
2i4
23g
23a
*214
2i2
700
75
*7434
4U
73
*95
..
43
4314
343g
*3312
41
42s8
3334
43 U
38
4U2
4234
41
34
106
*103
106
*103
106
234
236
♦23H2 235
39
34
*103
232
*23i2
1278
243g
*78
80
24
1318
13
5612
133g
*2412
*2i2
2512
*4634
53 h
25S
25i2
2i2
793g
80
80
8H2
545g
54
25l2
25g
*241,
2538
212
*4714
2l2
*24l2
2i2
5514
253g
25g
38
53
99
100
100
52
52
52
38
38ig
♦685s
70
57
57
5778
♦136i2
119«4 120
*136i2
*69
3834
*69
58
*47
55
54
81
543s
*24i2
2i2
*4714
33ig
38
53l2
106
220
227
24l4
12
80
817g
5514
2458
125g
80
5112
24i2
25g
*4714
25
25g
54
5458
2514
25g
54
54
3834
5358
29
*28
10S4
2#*2
2684
54
54
9812
92
95
54
55
5634
3,300
3884
69i4
57i2
3812
69»4
3878
3784
38l2
1,900
7012
260
57
57i2
*57
*6812
5538
99
♦4
*9978 1013g
100
100
99
*28
29
*28
*28
29
*28
IO84
27
99
*13
14i2
30 3 2
*1012
26i2
2934
99
*98
4
4
*4
*133g
273g
14
714
7
♦35
35'8
35
16
1534
*2914
305g
♦19
19i2
1514
305g
195g
195g
35
35
♦45ig
46
*278
*34
20
9884
*13*2
IO84
2678
2934
9834
4*2
14
7
7
3414
1484
♦2834
305s
*283g
1512
30^8
*18i2
5l2
19i2
195s
1958
*2838
1934
534
534
534
55g
35
35
46
45l2
46
*34
4584
1112
303%
90
87
87
88
90
22i8
22lg
23^8
33
23i2
1078
3334
2314
1012
333g
2214
1034
3384
22i2
11
77i2
*66i2
22i2
*
5414
13
I25g
77i2
13
77i2
663,
67
67
22l2
23
221,
27i2
23*2
*2512
86
*146
*106l2
*6184
*133
39*8
12834
*273g
575s
*135
2778
110
2378
27
875g
27ig
108
237g
253,
16484
275g
*
108
164"g *.-..
*108
78
67'g
22'8
*105
237g
2612
867g
86
28i2
58'g
139
*277g
563,
*135
28l2
58
139
241,
2434
17314 17378
993,
9984
101*210214
1011210214
2478
*145
148
12
12
25
*832
63
253,
109
884
63
*34
7)
*55g
63,
384
55
123g
1234
78i2
67&S
2234
7678
78
67
67*4
22l2
*
164
275g
10778
2414
2278
1621s
27*g
27Sg
1063g 10712
24ig
243g
2834
19ig
53g
*3414
195g
"""900
55s
3,700
36
600
46
46
1,600
334
*145
11»4
277g
5734
*135
2778
58
139
62i8
7«
5'g
37«
28
5784
59
*135
139
162i2
"27U
24i2
*2634
2758
106
2434
*273g
57i2
*136
25
28l2
5814
139
12i8
173
146
148
17312 17414
*99*2 9984
1013g IOI84
148
14712 148
117g
146
12
8!
83g
255g
117g
83g
26
148
12
19
*99l2
101
117a
2584
17384
IO84
113s
4,100
2958
7,700
1,800
16212
265g
273g
10514 10514
2312 24l2
*2634 28
80
84
*145
'
5'
3'
*50
53i2
*501,
53i2
*26
27
*26lg
27
6214
♦34
*55g
6214
7|
6l2
603«
38
*129
2784
6012
575g
13734 13784
23l2 2514
170
983g
173i2
100i2 10034
148
12lg
111,
148
12
25
251,
24
25ig
25
255«
108*4 108U *102ig 10884 *103
IO8I4
81,
83g
8i2
8i2
8i2
8'8
62i2 621,
62i2 6384
603g
6218
*84
84
78
84
34
34
6
584
*55s
584
6
5h
378
4
4
37g
37S
37g
37g
37g
50l2
♦50
53
26l4
*26i4
27
403s
40
39's
395»
38
39
59
3638
5914
59l2
59i2
6018
6014
62l4
63
6478
611,
18
18
18
377g
657g
18
18
18*2
18i2
18
18
17i2
18
*3ig
384
*425g
*120
4284
121i2
*10814 108i2
514
*75
53g
771,
*104 " 110
49
49
1234
1234
1011,
50i2
*26i4
5012
27
*50i2
*26i4
108
4884
4914
12i2
123g
For toot ho tea see page
104
4834
*12l4
1182
104
49ig
1234
600
200
No par
No par
2,500
»
500
3,400
*100
108
*100
108
*100
4912
4934
49
49l2
48i2
123s
123s
123g
1234
12
26,700
100
Amer Mach & Fdy Co.No par
Amer Mach & Metals..No par
No par
6% conv preferred
100
Amer News, N Y Corp.No par
200
100
108
49i2
12i4
81,900
11,800
1,400
100
Jan
168
10
Mar
Jan
Aug 19
44*8 Aug 13
8678 Aug 13
3
Tobacco...
American
Common
Am Water Wks & Elec.No par
Preferred
XAm* Writing Paper
Zinc
1
..No par
Preferred
Amer
par
Lead &
Smelt... 1
Preferred
June
31*4 Aug
99*2June
5
May
145s Feb
984 Mar
12
17
2
17
26
18*2 Apr
7
21*2 July 20
Sag Mar 6
24
Jan l7
Jan 14
133s Apr 11
36*4 Feb 28
95*2 Feb 27
297g Jan 14
15
Feb 13
3578 Mar 20
134
34
Apr 30
2
.
36
178
Mar 13
6
104
6
2
150
13
35
May 13
19*8 Apr 28
9284 Jan 3
784 Apr 28
5484 Apr 30
Feb 14
102i2 Feb
87sjune 30
20
Jan
Jan 29
3
14178 Jan 29
2688 Jan 28
205j Mar 21
136
11
605s Mar
6
149*2 Apr 30
5
8
20
11
28
73*2 Jan 22
143i2May 28
4is4 Aug 19
129l2 Aug 18
Jan
Jan
4
Feb 19
116*2 Mar
28*4 Aug
33*4 Apr
9112 Mar
15284 Mar
108*2May
Feb
Mar 17
Aug
2
Jan 10
10
Feb
Jan 10
Oot
14*4 Oct
4i2 Mar
9
Mar
32
Mar
18*2 Mar
4*4
Apr
13i2 Mar
2
97
20
9
June
par
3
par
37
100
118
66
Mar
4i2 Mar
20
Mar
315a Apr
121
Feb
1015s
Dec
Sept
323g Nov
9534 July
2178 Deo
26*4
64»8
144
Jan
Deo
May
117U Aug
76
June
July
12
Mar
88
Feb
113
Deo
3212 Dee
50*i Dec
43
Jan
124
Dec
18*2 Jan
987g Mar
7212 Apr
7484 Mar
129*8 Jan
Mar
9
7*8 Mar
48
25*4 Nov
70*2 Feb
140*2 May
2778 Nov
160*2 Nov
104*4 Nov
107
Nov
141
Nov
38*2 Deo
2234 Deo
Mar
94*4 Nov
478 Mar
IO84 Sept
68S4 Nov
25g Deo
35*2 Mar
5g Mar
1184
57a
Deo
Mar
49
Aug
8
Mar
30
Deo
37
2*4 Mar
3*8 Mar
July l
Apr 30
May 11
122
53s Jan 27
50
Jan
1*2 June
7
36
Jan
Jan 13
117
110*2 Jan 20
97
Aug
Apr
73s Jan 25
84
Jan 28
3*4 Apr
65*2 May
125
Jan 28
85
Jan
175s
109
125a
4
625s Mar 23
Mar
4
Deo
Jan
Apr
Deo
Deo
52
Aug
122*4 July
109
6*s
708s
110
H
15
Deo
2
Feb 17
9
159
143
15
7*2 Jan
49*2 Aug
41l2 Aug
25*8 Dec
Jan
9
Aug 18
47*4 Feb 24
Deo
130i2 Nov
36*4 Nov
9^8 Nov
Feb
Jan 30
104
32*4
Nov
63
111
105*4 Jan 3
45sJvme 10
66*4 Jan 2
Deo
Nov
Deo
125
16*8 Apr
107$ Sept
96*2 Oet
May 13
Feb
113s Nov
Mar
657g Aug 21
26>4 Mar 5
8
par
10*2 Mar
134*2 Mar
1584 Mar
3734
2784
75*4
33*4
12r>g
3
41 lg Aug 13
Jan
112 Mar
10*8 Mar
83g Mar
Nov
38*s Nov
47g Jan
31
Jan 20
15*2 Jan
5
178
2
35
Arnold Constable Corp
/29*8 Apr
2
28
100
40
Apr
784 Mar
2
par
No par
Oct
Mar
42
7312 Mar
31
Apr
May 18
No par
Oct
8*4
5
24
Jan
Deo
Deo
Deo
7
27
July 28
108*4 Aug 19
1112 Feb 1
7O84 Feb 1
*4May 19
4*8 Apr 30
3*2 July 3
Aug
Deo
Nov
28
37S Mar
12
6984 July 10
2788 Jan 4
165*2 Aug
34*4
9*4
3584
19*8
9234
37S
9*4
9*4
3
Mar
Mar
Feb 20
7
33*4 Deo
Deo
Aug
Aug
17
Aug
38*4 Aug
15*8 Oct
67g. Nov
2
14
Jan
$5 prior pref
25
Anaconda Copper Mining..50
Anaconda W A Cable.-No par
$6 conv pref
Preferred
Aug
84 May
284 Apr
Jan
44
ArmourACo (Del)pf 7% gtdlOO
Armour of Illinois new
5
72
x24
25
7% preferred
2212 Mar
6*2 Feb
54*2 Aug 7
143g July 28
79*8 Aug 13
88*2 Mar 13
100
96
Mar
23s Mar
72
87
10
Feb
30
July 16
129
100
Founders Inc
66
3
Jan
1384 Feb 13
325s Mar 6
7
25
Preferred
Am Type
July 31
34
20*2 Apr 30
IO784 Jan 4
26
May 29
48*4 Apr 30
,
Deo
102
55s Jan 14
57*2 Mar
Jan
65
Deo
Nov
4778 July 24
1333s
Oot
May
3378
115
2
104
Deo
Jan
46
258g Jan
5634 Jan
Feb
Jan
3778 July 10
Jan
Deo
8
43*4 July 11
25
class B
25i2 Mar
Deo
38
2
Jan
2*s Mar
59*2 Aug 20
130 June 12
Jan
100
Preferred.
3,700 Armstrong Cork Co
1,800
15184
100
No
20
$6.50 conv preferred. No
400 Andes Copper Mining
200 A P W Paper Co
No
1,100 Archer Daniels Mld'ld.No
10
167
18
25
3,300
1,600 Anchor Cap
900
1495a
2384 July 7
8938 Jan 21
100
100
1,400
42la
Jan
100
1,700
53
Mar
136*2 Jan
par
400
21
157
26
par
No par
Nov
110
100
American Stores
Deo
9
75*4 Oct
3778 Oct
2234 Nov
4*2 Deo
58
Aug 13
136*2 July 28
137*2 July 17
7*2 Feb 20
par
10C
245s
Nov
43
par
100
Preferred
2212 Dec
3*8 Mar
/49
June
36»8 Feb 20
I884 Apr 30
Amer Power <fc Light.-No par
$6 preferred
No par
Amer Steel Foundries..No par
Sept
70
284 Aug 13
17U Apr 23
95jj Apr 30
23*« Apr 28
66
Apr 28
21
May 9
10
Apr 28
27
Apr 30
124
Apr 2
x35*2 Jan 3
100
cum...
Deo
173
Jan
Feb
37
Amer Internat Corp...No par
American Locomotive.-No par
preferred 6%
32
Mar
43
72
325s July 11
No par
American Snuff
Jan
125
4
Jan
5*8 July
1
Preferred
21
Nov
6*2 Apr 30
50
No
.No
I84 Mar
65s Apr
Deo
1458 Deo
14i8 Deo
143g Deo
3314 Deo
5784
473a
2984
.1
American Rolling Mill
Amer Safety Razor
Mar
80
Jan 20
:
23g Mar
2
40
Apr 30
Apr 30
Preferred
Jan
Apr
38g
84 Mar
June
12
pref
Sept
48*2 Jo**
4U2 June
13i2 Jan
13
non-cum
74
z20*a
187
26
Jan
25
6%
Oct
Apr
Feb
Deo
5434 Aug 8
125*2 Mar 29
63*4 Feb 11
5512 Apr 15
Apr 20
July 17
July
10
American Ice
June 17
Sept
13*4
2*8
Mar
No par
100
1st preferred
No
2,300 American Woolen .....No
800
1384 July
84
18
18
5
11
27
8
26
28
Apr
Deo
Nov
Mar
No par
Amer Home Products
74
186
173
Dec
14
$6 preferred
pref
84
248g
203s
88a
12
2d preferred
conv
6*2 Sept
10488 Mar
100*2 Deo
37*4 Nov
59*8 Aug 12
28*2 Mar 11
55s Jan 24
31
10
4,500 Am Sumatra Tobacco ..No par
8,000 Amer Telep & Teleg——100
800
Aug 14
Jan 7
U484 Jan 14
875sMay 11
29
July 3
7*2 July 10
20*2 July 1
16*4 Jan 9
89
Apr 8
3*2 Apr 30
984 Jan 2
6% 1st pref
100
Amer Encaustic Tiling New.l
Amer European Sees..No par
6%
4*2 Mar
_
Oct
7434 Nov
117b Deo
162*4 May 29
30
Apr 30
575s Apr 27
Corp. .20
Amer Hide & Leather
Jan
62*2 Nov
116
40
Apr 28
124 May 2
11584 Feb 24
10
8,600 Amer Sugar Refining
100
Aug
283s Mar
Jan 31
65
No par
Am Coal of N. J (Alleg Co).25
Preferred
80
103i2 July
37
American Chicle
2d
15^906
4578 Feb
39*4 Feb
245
75
100
_
"""800
4112 Aug
Jan
34
par
Amer Hawaiian S S Co
June
8
Aug 18
Feb
49
2,600 American Seating Co
par
970 Amer
Shipbuilding Co.No par
8,500 Amer Smelting & Refg. No par
100
Jan
1984May 13
212 Aug 13
100
American Crystal Sugar
43
41 a4 Aug
353s Jan 21
No par
7% preferred
Jan
Jan
Jan
28
45s Jan 31
98
684
8484
Mar 25
157
....100
No
Apr 28
Apr 28
2678 July
23
Jan
Feb
.
195
Aug
27
25
Preferred
Mar 25
Apr
June
4*4 Mar
8134July 22
6*8 Apr *
95
Aug
17*8 Jan 23
July 17
69
32
110
51
Mar
Highest
$ per share $ per share
21*2 Jan
Jan
par
par
Aug 21
Feb
"
3584 Feb
28
Apr 28
13
share
7484 Feb
137„ Feb
100*2 Jan
9
91
Amerada Corp..
No par
Am Agric Chem
(Del)-No par
American Bank Note
10
Preferred
50
Amer & For'n Power
58
178
Allied Mills Co Inc....No
par
Allied Stores Corp
No par
American Car & Fdy
Preferred
per
118
2
Alleg & West Ry 6% gtd..l00
Allied Chemical <fe Dye.No par
American Can
$
Mar 31
58
100
2prior conv pi..No
Allegheny Steel Co
No
share
7s8 Jan
100
Amer Color type Co
Am Comm'l Alcohol
42
100
warr
Preferred
per
2i2
128g
12U
12i2
warr
warr
Preferred
ilJOQ
27
10H2 ♦IOOI4 103
*101
103
*101
♦10034 103
103
*12i2
1312
*12i2
1312
11
1212
*1212
12i2
12
13l2
*3i4
338
*314
33s
38s
*314
31,
33g
314
314
42
42
4114
42i2
42
39
*4118
x40*2 405g
40
*120
*120
12U2
120
*120
120
12ll2
12112 *120
12U2
IO8I4 IO8I4
IO8I4 IO8I4 *108ig 10812
108i2 108i2 *108
10912
514
53«
514
53s
5
5*4
53s
514
53g
514
771,
77
7778
77l2
7714
76
7714
*7714
77i2
76
*104
Pref A without
Preferred
403g
1312
Pref A with $30
Pref A with $40
2,200
2,500
$5 preferred
No
25,100 Am Rad A Stand San'y .No
99
395g
*12«4
16,000
2784
56
391,
*9984 101i2
"""360
130
50i2
26l4
395g
18
1,400
140
4H2
No par
5,800 Amer Metal Co Ltd
*1063g 107
*133
*5432
-
9,900
146
,,
63
700
2814
9934
10H2
900
278
19
89i2 90
243g
22i2 24
107g
10U
105S
32
3234
3H8
32
*128
133i2 *128
133i2
*51
55
5H4
51i4
12l2
127g
H84
12i2
77i2 77i2
7314
74i8
64 i8
67ig 6778
66I4
223g 2234
2H2
2214
2484
2584
173i2 174i8
9934
9934
10H2 102
25
25
2584
25i2
*102lg 109
*102i8 109
85s
*2738
*25g
23i2
105s
106
2,300
*277g
1984
28
26l2
291
28l2
2734
84
855g
86I4
8584
86"
86ig
*145l2 147
14534 14584
*14512 147
*1061, 107
107
*106l2 107
*1063g 107
*106i2 107
62
6034
6112
♦603s
607S
*6012 607g
607g 6078
143
*133
*133
14284 *133
140
14284 *133
140
3934
38l2 40
40
385g
4034
4018
4184
4134
128s4 *129
129l2 129i2 129*2 *129
130
*1295g 130
173lg 17334
*10534
24
*51
1234
8,100
1,300
30
1481o *1453, 148
*9914 IOOI4
*243s
--W
27l4
107g
1078
3234 33U
133i2 *132
133l2
55
121*
78i8
7
91
2984
88
1278
15
91
11*2
303g
113g
2914
♦51
34
147g
1U2
315g
3
20
*132
6&g
33i2
197g
1H2
313g
*234
*19l2
13332
200
7i8
3414
15i2
197g
113s
303g
234
1978
5334
400
1314
4612
284
284
20
414
13U
46
*1912
113s
53U
4,800
2,800
98
4
14
36
115s
3314
133l2 *132
293g
*95
36
36
3014
91
3314
15
"~l",6o6
488
57g
36i2
46i2
234
278
1078
67g
7*g
35
400
28
98
*414
*13i4
15i2
1112
♦51
98
3434
30
♦132
2914
400
IOI4
26
984
Advance Rumely
$
_
10
Affiliated Products Ino.fVo par
Air Reduction Inc new.No
par
15,800 American Chain
2514
lll8
2612
308g
34
19l2
lll2
3014
90*2
22i8
*1034
IO84
26i2
*15
534
234
19
>
143g
36
4584
3
*1812
5l2
26i2
2934
*4ig
7
7*s
*29
584
2978
29
IO84
414
*13i8
35
*15i8
534
100
12,000
1,600
29
1078
7,100
99
101
1034
263g
295«
414
57i2 59i2
5434
57
129i2 12912 *126l4 12912
55
57*2
129I2 12912
*997g 101
5412
Year 1935
Lowest
Highest
1008s Jan
1778June
22*g Jan 21
xl*a Jan 14
No par
Address Multlgr Corp
1,500 Am Brake Shoe & Fdy.JVo par
30
5H% conv pref
100
57
..
130
*98
30l4
*7ig
"l~6o6
97
70
No par
100
40,400
1,200
5% pref
100
22,400 Allls-Chalmers Mfg
No par
200 Alpha Portland Cem._No
par
1,500 Amalgam Leather Co
1
7% preferred
50
52
29
101
*1012
♦98
6,600
99
69i4
5738
12984 12984 *127
101
♦28
"2,900
II984 I20i2
130
101
900
33i8
*101
*137
*137
i36l2 *136i2
120i8 121
12014 12134 120*4 12118 119*2 120ig
*1653, 167
♦165i2 167
*167
*166
167 - 167
»16512 167
42
4234
43i2
42
4318
39
42ig
4278
52"^
4184 425g
418g
83i2
84
84
8434
84
85
84
8334
84
84
8284
83
♦129
1,100
2,500
52
1363,
...
3,000
36
3714
3914
348s
106
16,600
99
1
70
57
34
Express
IMOO Alaska Juneau Gold Mln
10
Albany & Susque RR Co.. 100
25~900 tAllegheny Corp
No par
5112
38i2
10012
5214
3832
70
38i2
36
*227
230ig 233
22912
237g 25
2478 2514
13
12i2
125g
13
5378
*47
40
*101
80
53
*52
3432
106
*56*2
5334
1011
♦100
391,
34l2
*103
23218
24
2434
1214
1314
24
*78
5578
3384
*36
38
Range for Previous
100-sAare Lots
110*4 Aug 3
59
Apr 28
95s Apr 30
100
..25
2,700 Air Way El Appllance.iVo par
Ala & Vicksburg RR Co.. 100
*95
14*g
14ig
14
14
1412
1378
I4l2
13i2
14
"1V14
14is
18234 *175
181
*175
180
*175
*175
180
*175
180
180
414
4*4
43g
31,
4i8
438
384
37g
37g
37g
4ig
3914
41
41
40i4
43
4234
38
39
38i4
363s
3734
3978
39
40
403g 4U2
*36
38
39
35
36
4012 4134
38
41l4
4,400
745g
414
4
414
Adams
No par
Preferred
2,900 Adams Mlllts
195g
2534
4*g
41
Abraham & Straus
Preferred
Acme Steel Co
9,100
14is
41
190
270
600
13ig
*175
*40
On Basis of
Par
19i2
2534
43g
1183
Lowest
1912
*25i2
7538
*95
58
11078 11078
65ig
65i4
NORFOLK, VA.
EXCHANGE
19i2
26
43g
.....
57
5412
54i2
1107g 1107g
653g
653g
1314
133g
for institutions and individuals
Range Since Jan. 1
STOCK
Week
193„
2558
*2lg
76
Aug. 21
26i4
*26
214
75
19
the
*54i2
55
11034 111
♦653s
66i2
1314
133s
III84 *11034 H134
65->8
*65lg
6578
13U
1312
1318
133g
18i2
Friday
:
Stocks, Bonds, Commodities
2
STOCK8
NEW YORK
Thursday
Aug. 20
$ per share
$ per share
6558
133s
26i4
Sales
Aug. 19
*11034 H134 *111
66I4
orders executed
RICHMOND, VA.
Record—Continued—Page
SHARE, NOT PER CENT
Wednesday
i
,
INDIANAPOLIS
for
Monday
1314
& company
CLEVELAND
MONTREAL
New York Stock
Saturday
66
livingston
143
AND
in
and
leading exchanges
Volume
Commission
ABBOTT, PROCTOR & PAINE
York Stock
New
Paine
&
Deo
Jan
Jan
Jan
255s July
50*4
Dec
Mar
95s
Deo
4
AND
LOW
Saturday
£
Monday
Aug. 17
Aug. 18
ver
21
*24
16
15
3012
30l2
3012
?014
*32lg
6i2
6I4
*15
3
3
45
2814
3%
3l8
3i8
433g
43
*403g
33
53g
5i4
19i2
3
44
43
43
22ig
3358
2112
22
2158
2D8
3358
3212
33l2
3314
3312
44l2
*4312
44i2
44
44
34
120
116
116
*115
120
*115
15
16
16
16
16
16
94i2
9414
94l2
1634
16i2
1634
16%
95l2
1634
*93is
16i2
I8I4
1858
1858
*18%
1834
1858
*95
*93i8
9512
1634
187g
3i8
3
3
43l2
2214
34i2
44U
32U
4414
94
*38
39
94
93i2
*93
933g
18i2
29"
2858
29_38
2138
2U4
5614
2114
5614
95i2
50
1634
183g
18i2
6,000
1,000
56l2
*55i2
I2812
213g
287g
213s
56i2
215g
28ig
213g
*5534
5612
56
*86
*86
----
625g
6034
61
6II4
5934 6D4
59U
19
1878
1878
1834
187g
1834
1834
121
122i2 *117
122i2 *117
122i2 *117
38
38
38
38
39i2 *37i2 3778
*38J4
16
167g
16
16i8
16i8
16i8
16i8
16i8
24
25
*2312 25
*23l2 25
*2212 25
11078 11078
*11058 IIU4 *11058 IIII4 *11034 lllU
92
90
*87i2
275g
28ig
92
*88f2
28%
28i2
29
2938
43U
4238
41l4
44
44
4312
44
43
90
*8612
90
*87
41
4018
41
40%
3058
30
3058
3018
7458
74%
75i2
74
758
73g
73s
*7
31
3114
3038
7212
*738
737g
74
90
•
*738
734
*87
*4014
2
*50
5D2
4734
*47
4834
*47
48
102
102
*4834
49i2
*48
497g
4914
*4858
*49
1214
1734
300
47
47
4578
467g
778
39i2
53U
400
8
8
7l2
40
40
*38ig
52i2
52i2
527g
104
*103
103
103
5D2
*103
Z4812
10
934
934
1178
48i2
*4834
4812
10
105g
1018
10i2
9i2
IOI4
1218
1214
1334
14
.
12i2
12i2
127g
123g
487g
4812
4812
50
48
13
'■
175g
1712
109
109
108
1334
137g
1358
114
*110
111
111
110% 110%
14
1314
135g
♦lllig 114
10
10 ig
10
10
Dg
Ids
934
10
34
33i2
25i2
36
37
36U
375g
35&S
37
28
28
28i8
28i8
2734
2734
2834
29i2
28i2
2914
27U
2712
*438
27i2
2658
27ig
27
27U
27l4
2714
27i2
275g
26i2
27U
2678
9,600
4,600
10,400
2,800
4,300
458
414
414
4l2
4i2
4i2
438
43g
80Q
125g
100
*1212
*1612
434
2134
*66i2
2934
*l'2i2
Ds
14
d8
43g
14
*1212
*1638
20
*17%
16i2
17i8
16U
163g
16U
5
4i2
2l7g
5
*45S
21%
434
22l8
4i2
2D8
45g
2238
4i2
215g
458
215g
1934
16U
438
2138
67
6514
65i4
*6534
6734
64
65
29l2
4134
2938
293g
42U
28
2834
4D4
29i2
4214
d4
d2
*65
68
29i2
4134
1
2212
67l4
*655g
2934
293g
42
4134
d8
Dg
12
1U2
12
11%
357g
35
3534
35
147g
1478
153g
59
59
117g
1134
12
43
15%
42
1U
12U
35i2
d4
1178
43
355g
35ig
3512
34U
3514
1434
1578
1534
*59
12
1134,
45
46i4
16i8
155g
16ig
60
59
60
*56i2
12
1134
12
id2
45l2
44
4634
45
*42l2
1678
*1534
17
*1578
1658
*1534
16&8
16U
I6I4
51
51
*5078
5D2
*5078
5D2
5078
51
*98
99
*98
*9814
99
*98l4
99
8ig
162
*130
138i2
8
8
159
162
135
138
8
*734
158
*130
161
138
Do
1D2
353s
1538
*100l2 103
41
1134
51
*10014 103
13s
11
1134
43
*10014 102
40U
12U
*5078
99
4U
1134
60
*59
1%
29
*1534
*8
1258
19
22i2
60
162
*4
Dg
14i2
1834
Us
*42
1
*12i2
1
1134
414
978
147g
*42
*59
10
*12i2
15
2978
42l4
1178
347«
147g
Ds
Dg
Ds
99
99
*10034 103
734
734
8ig
734
15734 16012
1593S 161
*100i2 103
.
*130
138
138
*130
157g
*507g
60
1134
4434
16
5D2
130
80
3,800
3,400
20,600
19,100
7,100
18,000
100
102
10
734
15734
138
2,100
8,700
20
76
75%
76%
75%
76i4
7534
7634
75i8
76i2
28%
2758
283g
27i8
28ig
76i8
2678
76i2
27
275g
25i2
26&s
29
285g
29
*28ig
287fi
287«
3012
30
30i2
285s
2912
4,000
40,000
6,600
75
75
75
7634
77i2
78
77i2
77i2
450
3D8
313g
3138
3D2
3078
313g
*30
31i8
1,500
42
*3914
41
7534
*7514
313g
*3058
31 >8
*40
4234
*39i2
41i2
7534
8
*7
*7ig
10712 *100
*100
8
53
95g
98
5278
934
9934
958
9834
99i2
525g
934
*10214 103
20
*19
10234 10234
1934
1934
52
43
*7
107% *100
5358
53
*39
7i2
*40
*7
42
7i2
*9814
107l2
52i2
52 I2
95g
9i2
98i2
98i2
912
98i2
99
10338 10338 *10314 10338
20
20
20
9i2
48
48
*40
83l4
84
20
*19i4
52
86
i
*45
85
85
6678
67ig
6634
6734
673s
6778
66I4
673g
66U
*15s
2
*134
2
*158
2
*158
2
*158
85l2
9
99
98i2
983s
103l2
103U 103i2 *103
52
85l2
*98U 107i2
53
5058
8134
*19U
20
51
82i4
*40
51
67ig
Ds
79
82U
64U
6634
1&S
378
4
*4
4i2
*37g
4i4
*37g
37g
37g
334
ls4
134
*158
2
158
158
*158
438
Dg
15g
334
*158
d8
*158
Ds
714
714
7
7
7
7
*7
7U
*7
7i4
634
*8i8
10
*6l2
10
*6i2
10
*6i2
10
*65g
10
7i8
2914
2914
2914
29%
2834
29
2914
29U
29
29
28i2
Ds
15f
15s
15g
li2
1»4
d2
314
33g
314
314
33g
33s
3
3
278
2%
278
278
7h
314
234
D2
33g
*7i2
*163s
8ij
*712
734
16l2
56l4
1658
165{
75g
17
56
17
56
56i2
5634
2lj
534
2i4
2%
214
*5i2
5i2
5%
514
2i4
5i4
*514
5ij
*5i8
5%
5
56U
*214
*263g
28
*26i2
28
*2638
For footnotes see page
1182.
*734
17
57
d2
3U
314
27g
27g
27g
8l2
1714
*734
8ig
1734
18lg
57
*d2
3U
234
lSg
5614
57
2i4
23g
*2i8
*5U
5i2
> 5U
214
514
5
434
*47g
514
27
*2578
514
267a
2578
26
.
7i2
1634
5512
.*2
7
7ig
29
158
3U
234
7i2
18
56
2i4
478
*434
5
*2534
27
5
Sept
2514 Dec
49i2 Aug
J16
Dec
15i2 Nov
88
Nov
14«4
115
Deo
May
2018 Nov
1081a June
"33"
NOV
72
Feb
IDs Mar
4
5
33i2 Sept
95
Sept
.1434 Nov
Sept
11712 Mar
1178 Mar
1518 Mar
241; Oct
2234 Deo
34
Jan
57i2 Nov
Mar
Mar
June
Jan
27i2 Sept
79
5
2
113
6
6318 Mar 7
1001; Apr 13
3D4 Aug
2
Mar
Jan 17
4
7
2
12U Mar 6
5D2 Mar 5
5334 July 29
13s Apr
yl2i8July
2
4314 Apr 30
41
4
11
19
19
2
7
104
Mar
7
123
9ig Jan
2
87g Jan
13i2May
100
No pur
No par
Bullard Co
Burroughs Add Mach_.No par
No par
{Bush Term
100
Debenture
pf ctfs.100
6
No par
Bush Term Bldg gu
100
Preferred
Byron Jackson Co
No par
California Packing-
No par
33s July
4U Mar
8i8 Mar
6234 Mar
July 22
1578May
14
10
28
2i2 Jan
8I4 Jan
30U Apr
2
2
29
2
29
16
30
30
1418 Apr
2^8 Jan
10i2 Apr
54i8June
22
Apr
27
6
Campbell W & C Fdy.-No par
Canada Dry Ginger Ale
5
6
100
54
103a Apr 30
Jan
6
Mar
.
3U8 Feb 4
33U Feb 13
10
2478 Mar 23
6&8 Mar 20
July
Mar
Mar
Sept
Apr
333s Nov
Feb 19
5612
Oct
Jan
Oct
Oct
1334
40U
433 Mar
32i2 Feb
82U Feb
48
88
Aug
Aug 21
85
Mar
95
July
934 Feb 19
7
Dec
4534
83i2
36i2
19i2
10i8
Mar
65
Nov
634May 22
92i2 Jan 6
186
June 22
7
143
July 15
116
Jan
8i4June
80i2 Feb
4
4
7834 Apr 15
32U Jan 6
3U2 Feb 19
78
Aug 20
35U Mar 13
57
Feb 21
Mar
Apr 14
36
2
693s July 15
lSgMay 19
27s Jan 4
314 Jan 13
100
Great Western.—100
U4 Apr 28
4
0
Aug
Jan
2
May 12
25«8May
li2 Apr
278 Apr
212 Apr
634May
12i2 Apr
13
30
27
29
1
30
4034May 4
U2 Apr 23
3i2 Apr 24
314 Apr 28
1934 Jan 2
Feb
Jan
35g Mar
23
8i8
Deo
JllU Nov
126i2 Nov
Nov
60
Jan
2U4 Nov
62»4 Nov
Mar
385s
19U Mar 24
102i2June 1
Nov
353s
96i4 Mar
58
Nov
Apr
7
107
2
19
Mar 13
34
Jan
14
Nov
0i8 July
Jan
101
2214
Apr
9»4 Jan 17
Jan
100
Deo
June
85g
Oct
17&8
1812 Feb 24
52i2 Apr 18
Aug 20
Jan
Preferred
50
Jan
Us
634
30
51
3,000 Chicago Pneumat Tool.No par
Conv
preferred
No par
1,800
1,000 {Chic Rock Isl & Pacific.. 100
700
7%
preferred
100
6%
preferred
100
1,100
200 Chicago
Yellow Cab...No par
Deo
66
14
2i2
7i2
8i8
59
10 {Chic
Ind & Loulsv pref-_ 100
5
1,000 Chicago Mall Order Co
1,800 {Chic Mllw St P & Pac.No par
Preferred
100
2,400
2,100 Chicago & North Western. 100
Jan
Jan
22i2 Jan
3i2 Nov
205s Jan
178 Feb 10
Apr 13
2
8
60
Aug 20
14
40U Apr
165s Aug
2214
100
Nov
3i8
10i2
"42i2 "Feb
3
2
100
28
Aug
7
*21
Apr 29
69i« Apr 17
86
Aug 13
No par
25
143s Nov
16
21»4May 22
19
Apr 30
54
May
1
2538 Jan 6
35
Apr 28
012 Apr 29
97i2May 2
4734 Jan 21
Cab
Deo
4634 Aug 19
Apr 30
1234May 8
4534 Jan 8
5434 Jan 16
No par
5
Deo
934 Nov
1078 Jan 20
No par
Common
100
37
Celanese Corp of Am ..No par
.100
Dec
87a Deo
1734 Deo
Mar
102
Cerro de Pasco Copper.No par
]U|
30i"2
Jan 10
303s July 20
4
Agulrre Assoc .No par
Aug
7U2 Aug
0334 Aug
4334 Aug 10
Jan
No par
100
46a4 Aug
100
32
74
91
{Celotex Co
6% preferred
Mar
lis Mar
113s Mar
25U Feb 13
100
Caterpillar Tractor
38
Apr
1
5U Apr
99
100
Dec
Deo
14»4 Nov
24i2 Nov
Mar 23
4
100
5i2
Mar
May
Mar
Mar
Mar 24
Jan
Case (J X) Co
Preferred certificates
Deo
97i2
9
87
..
Oct
42
Mar
19
Carolina Clinch & Ohio Ry.100
Carriers & General Corp
55
2i2
334
8U
13i4
375s Aug 20
2
Stamped
Oct
553a
23
30
Jan
1
314 Mar
5
Apr
114
July 15
Jan
10
Mar
Mar 23
8% Apr
1U2 Jan
20*4 Apr
25
Apr
&8 Jan
Preferred A
63
July
47«4 July
27»4 Nov
70i2 Dec
878 Dec
2>4 Deo
1718 Nov
l^s Aug
6
Capital Adminis cl A
Mar
22i2 Deo
5978 Jan
35sMay
30
25
Jan
43
14U Feb 14
13
1
—
....No par
May
90
20i8 Feb 14
8
Calumet & Hecla Cons Cop.25
Callahan Zlno-Lead
14
Jan
3612 Mar
7
56i2 Jan 31
65&g Jan 15
Jan
85
1
No p<<
Watch
100
28U
4
Apr
15s July
100
Budd Wheel
Preferred
100
Dec
21
i2 June
8i2 Apr
24i2 Feb
23i8 Jan
303s May
No par
preferred
200 Chicago
Jan
90
38
3®4 Mar
paid rights
Second paid rights
loo Checker
Deo
33s Feb 14
1878 Feb 13
6478 Mar 0
69
Apr 4
60i2 July 24
5
preferred
Central
Deo
90
Jan 15
83i2 Mar
Nov
Mar
Mar
July
323s Aug 10
45
June 30
5
Budd (E G) Mfg
Cannon Mills
Feb 28
99
17
237s Aug
114
1U2 Jan 30
Preferred
Bulova
6
Jan 21
Bucyrus-Erle Co
7%
Jan
1434
95s
105s
103U
28U
6»8
395s
Apr 27
Bruns-Balke-Collender.No par
4,300 Chesapeake Corp
16,700 Chesapeake & Ohio
100 {Chic & East 111 Ry Co
400
6%
preferred..
300
Deo
18
Oct
1 *8 July 16
2,800 Certain-Teed P^oducts.No par
380
7%
preferred
100
120 Champ Pap & Fib Co 6% pflOO
1,100
40
Jan
6
Manufacturing.No par
No par
5
Preferred.
300
Jan
14
64
Century Ribb on Mllls.No par
8,000
63
100f2
10
Central RR of New Jersey .100
7i2
*98i2
S4l2
*40
*7
934
912
20
7i2
*7
107i2 -*98i4 107i2
53
53i2
5314
9i2
*45
*4012
Jan
25% Jan
Canadian Pacific
70
578 Mar
107«4
100
Corp
Canada Southern
400
Feb
June
15
Boston & Maine
60
275g
*30
Borg-Warner
21,000
2,200
76
76
Aug
80'sJune
39
Borden Co (The)
ByersCo (A M)
2612
*2758
5
41
Butte Copper & Zinc
100
7l2
10934 Jan
No par
Class B
6,000
102
146
8
8
24
11
30
20
12
No par
Bon Ami class A
4,000
*99
*130
3
6
Boeing Airplane Co
Bohn Aluminum & Br
Briggs
Jan
14i2July
18i4May
23
77U July
1678 Apr
1st
3334
97g
Bloomlngdale Brothers-No par
Preferred
100
Blumenthal <fe Co pref
100
7%
10
H4
No par
Blaw-Knox CO:.
44i2May
*4812 Aug
8isMay
34
Us
1618 Apr 28
107i2July 8
Brooklyn Union Gas. _-No par
Brown Shoe Co
No par
10
H4
6% preferred—.
20
7% preferred
100
Blgelow-Sanf Carp Ino-No par
97S4 Feb
400
314
32
8
1918 Aug 20
1223s Aug 13
48
Apr 6
20U Feb 19
2434 Aug 13
$6 preferred series A-No par
600
Mar
Mar
Mar
Mar
Dec
6334 Apr
40U Jan
3334
U4
4534 Apr 30
new
Bklyn Manh Transit—No par
15,000
2
3134 Apr 15
21&8 Jan 20
800
.
1414
7i2
9i8
3018
1O0U
June 10
SOisMay
4,700
125
1358
Feb
7i2 Apr
Mar 11
6
4i2 Jan
33i2 Jan
4,500
11,900
July
16*4 Mar
Brooklyn A Queens Tr.No par
Preferred
No par
300
Jan
96
47i2June 30
1,100
Dec
0s8
512 May
35i2 May
39i2 July 16
Briggs & Stratton
Bristol-Myers Co
9,700
514
U2
2
600
104
48i2
4834
4858
1214
*121
14lg
1378
108
11,900
8i8
40i4
8
51
*49
,6,500
50
5212
49
934
18
125
*121
5014
4878
15
5434
50
4014
10312
1178
97g
1212
*934
*102
104
103
1414
525g
50
234 July
(Del)-No par
Beth Steel
Bridgeport Brass Co ...No par
51i2
153s
5514
50,
Jan
2438 Mar
57U Apr
*li8
2
100
Oct
14
7
{ Botany Cons Mills class A .50
9,100
4,900
4512
8
Jan
------
*50
8i2
4012
527S
34,500
3,300
Mar
Feb
Jan 18
2
52
8
40
Sept
19i2
15
26
48
7i8
5014
4734
778
38i4
52%
510
48i2 Nov
115
Jan
Mar
lllSgMay 29
July 30
20
74
5014
39%
30
28
Dec
Jan
Deo
Dec
May
105
No par
Best & Co
*634
*D8
1434
8ig
6,100
6
Oct
3234 Apr
April
*20
Apr 8
195g July 13
114U Jan 15
Beneficial Indus Loan._No par
72i2
545g
52i2
163g
pref
Aviation..
Mar
Dec
4
83
73g
15*8
39
37U
16
Belgian Nat Rys part
6
Sept
10634
1318 Jan
June
Mar
2012
2034 Mar 19
Feb 28
74i2
5512
8
37U
35
92i8
3714
17i2
1978
3
102
8
85
Dec
19i2 Apr
Feb 18
118
2
Jan
20
Beldlng Heminway Co-No par
307g
1434
5114
65,100
3,700
Jan
18
Deo
60
665s Mar
Apr 22
Feb 28
Aug 11
Feb 21
36
Aug 13
4912 Feb 28
8
107
44
3534 Mar
334
5412
4414
24i4
Aug 18
Beech-Nut Packing Co
Bendix
May
100
30ig
55
39
100
4,200
1.400
110
..No par
50
$5 pref w w
Beech Creek RR Co
3034
147g
51
25
100
Creamery
20
555g
778
100
pref erred
160
*d8
143g
51
1st
90
55
*3714
Bayuk Cigars Pnc
41
147g
4734
40
700
400
24
6H% conv preferred
Barnsdall Oil Co
41
56
*47
300
300
121
*8612
1438
-
187g
121
Preferred
Barker Brothers
41
5434
*50
6134
19i8
60
Aroostook
*7i4
3012
7412
7i2
*d8
59i2
90
1478
134
56
100
5
No par
8214 Jan 10
14i8 Jan 6
1634June 26
Preferred
Preferred
12,600
42
*40U
55
2
55i2
100
No par
100
100
Baltimore & Ohio
Beatrice
9
2i2 July 9
238July 8
29i2 Apr 30
3334July 8
1578 Apr 30
21
Apr 30
4Dg Jan 3
112U Apr 3
1314 Jan 6
assented
Bangor &
29i2June 30
Apr
100
Feb
v-678 Feb 24
5
5%June 30
3
109
Mar
2934
126U Apr 18
30i8 Feb 14
5414 Mar 5
10i8 Jan 15
46i2 Jan 24
734 Mar 18
Jan 17
June 26
2658June
Oct
Nov
1834 Nov
June 12
73
14
100
73i2
41
54
*li4
21l2
245g
11078 11078
88i2
88i2
303g
28U
42
423g
*u4
1478
2
28
Pref
115
2
Jan
*112
Assented
Preferred...
30i2
90
41
86ig
2D8
90
297g
*86i2
*4018
86i8
27
,56
90
900
1,200
41
90
*88i2
14
215g
63i8
19
19i8
121
12U2
*3734
38i2
163g
167g
245g
*2312
11078 1107g
88i2
88i2
303g
29i2
6OI4
1858
9312
2834
....
615g
*118
*88i2
2734
14
93
1378
1378
137g
9338
1378
40
*39
933g
287g
2D8
*5534
*853g
40
*39
1,000
16i2
'
933g
200
40
117
48
Works..No par
Loco
Baldwin
27,900
8,700
16U
1634
18i2
137g
13%
*8578
285g
14
14
14
1378
*853s
28i2
2II4
*93
7,400
2,500
1,100
*93i8
95i2
165g
38
38
39
*38
39
*93
8,000
15U
112U 112U
112
112
*112i8 11319 *112i8 11312 *11214 11312 *11214 113i2
22
2D8
2134
*2D8
2Dg
2134
217g 2178
22i8
2134
*2134
2134
*11U2 11178 *11112 11178 *111% 11178 *11112 llDg *IID2 llDg *11U2 llDg
101
100
*100
100
100
100
100
100
*100
100i2
*100
100i2
*3714
3,800
100
43
2U8
16
*93
5f2
*40
117
15
1658
I8I4
60
*115
*115
1578
115
32
3i8
227g
3514
4434
4% conv pref ser A
100
Powder.-—-i—No par
Preferred
100
Atlas Tack Corp
-.No par
Auburn Automobile—No par
Austin Nichols
No par
Prior A
No par
Aviat Corp of Del(The)new_3
600
4012
44
*15
115
6
53g
3i8
34U
3D2
May 21
Jan
2
978
90
48
Aug 18
5U8 Feb 10
88i2 Aug 8
10634June 11
3534 Feb 21
25
July 13
31
July 13
35i8 Apr 10
13i2 Apr 24
26&8June 4
1123gMay 22
100
25
Atlas
30
,
Apr
7f2 Mar
8078 Apr
119
9034 Jan 2
216g Apr 24
11
Apr 22
RR—100
Preferred
2,200
6
314
*44
18
59
SS Lines. .No par
Atlantic Refining
800
30U
4414
*4U4
2214
223g
34l2
4434
2134
*4414
12212 12212
512
3i8
3
44
•
32
3!8
44t4
314
3i8
314
437g
840
9,500
800
69
17
At G & W I
100
28ig
*11012 113
*66
Preferred
Atlantic Coast Line
Feb 21
36
70
108
June 19
98
3«4 Mar
22i8 Feb 27
May 13
19U July 27
10934 Apr 2
3
Jan 20
103
-26
Santa Fe-_100
:
100
Oil
Atch Topeka &
14,300
1,200
6,700
27
27
33
53g
3034
203g
*2334
113
33
43
,
*43l2
22
2114
113
113l2
*32
3U
314
44
*42
27
x2T?s
53S
5%
5i2
3i8
*24i4
283S
113
34
*32
34i2
43i2
4434
*4212
614
3ig
314
318
*44
20
27
2758
69
6934
69l4
69l4
6934
*121
122
122
12412 *12D2 124
19
17
177g
17i2
15% 165g
32
3D4
3134
3114
3034 3034
6
6
*6
6I4
6i4
6%
31
514
21
29
*69
15
*32
34i2
53g
53s
;
19
2734
U312
79U
10214 10214
10214 104i2
315g
3034
Associated
10
76
82i2
79i2
*24lg
24
70
*121
8234
42
*40
3D2
2034
27%
*113
42
*40
% per share
12&8 Apr 30
100
100
6% 1st preferred7% 2d preferred--
100
200
Highest
$ per share
05
Preferred
20
Lowest
% per share
8ig Jan
No par
100
Associated Dry Goods
1
Art loom Corp
7,800
3038
,
Shares
1712
18U
1834
1818
1057g 10578
*10578 107
120
*117
*11738 120
147g
Highest
% per share
Par
1.100
10458 1045S
3158
24
122
122
104U
20
115
6914
6914
6914
*121
82i2
30%
S per share
Lowest
14
1458
*9234 108
40
81
2158
2758
11312 *113
*113
40
27i8
2838
21ia
*24
27lS
28ig
2734
42
31i2
3058
3D2
2114
31
117
104
104i2 104i2
*1043« 105
117
81
84
82i2
833.
83
*10578 107
119
*40
4112
*40l2
4U2
*40l2
185S
18
183s
18
Week
147g
119
119
*117.
Aug. 21
*9234 108
*9234 108
*J0478 107
*1047S 107
119
*116
1858
18
18
177«
*1047« 107
the
$ per share
15
15
Friday
Aug. 20
$ per share
106
106
110
*106
15i2
15
1512
1512
1534
110
$ per share
$ per share
share
*15
*106
100-share Lots
EXCHANGE
Thursday
Wednesday
Aug. 19
Tuesday
Aug. 15
On Basis of
YORK STOCK
NEW
for
Range for Previous
Year 1935
Range Since Jan. 1
STOCKS
Sales
NOT PER CENT
SALE PRICES—PER SHARE,
HIGH
22, 1936
Aug
New York Stock Record—Continued—Page 3
1184
Mar
29
May
6212 Aug
123s Jan
109i2 Jan
653g Dec
153s
Deo
88U
Deo
10414 Mar
6*4 Jan 15
2&8 Feb 5
83|}June 27
12
Jan 31
43s Mar
21
Dec
Mar
0114
Nov
37ia Mar
53U
Deo
Apr
78 June
58 Feb
15s Feb
2ia
Jan
314
Deo
1
Mar
1
214
Jan
55g
Dec
9
Deo
6
19i8 June
*35
Nov
278 Feb 11
i4 Mar
3
Jan
578 Feb 11
478 Feb 21
34 Mar
13^ June
434
Jan
12i8 Feb 21
2Qf2 Jan 2
59
July 22
3»8 July
458 Mar
3138 Jan
20
55s
1058
Jan
2058
Deo
Mar
5434
Deo
Jan
8
34 July
258
Jan
8
Jan 11
Dec
July 15
15s Mar
114 July
414
8
4
Jan
9U July
1934
Deo
3
Feb
3134 Apr
1
Volume
LOW
AND
New York Stock
143
HIGH
SALE
PRICES—PER
Record—Continued—Page
STOCKS
NEW YORK STOCK
the
CENT
NOT PER
Sales
for
SHARE,
4
EXCHANGE
Saturday
Aug. 15
Monday
Tuesday
Wednesday
Thursday
Friday
Aug. 17
Aug. 18
Aug. 19
Aug. 20
Aug. 21
$ per share
$ per share
$ per share
$ per share
$ per share
$ per share
Shares
Range Since Jan. 1
On Basis of lQb-share
Week
23%
*8%
23%
834
3634
113% 11484
167g
167g
*33
*85
87
7
7
23ig
85%
67g
3112
50
*47
5734
5734
*5612
*12612
*116
*126i2
1167g
*56i2
13i2
*101
5734
13%
102
53
53 %
*111% 112
*277g
20
6
6
*27
2834
29
29
*30
3U
30
*28i2
*127
130
38
*45
21ig
106i2
100i2 101
71%
884
*56l2
13l2
101
5234
llli4
*27i2
6
85l4
7%
7
71%
17
7
35
3512
*4934
50
*56i2
59l2
*126l2
116
11534 116
57i2
*56i2
573g
1334
13i2
1378
101
101i8 10H2
53 ig
5234
5312
111
111
111%
29
27i2 27i2
36i2
50
59l2
...
6
6
5%
101
100
72
72
323g
*11114
35
49%
*56%
*12612
*116
.
7
35
4934
59
....
117
5714
1334
10112
2:5158
52
2814
52
5234
48
11U2 *110
11H2
28l4
275g
2784
110
6
5%
27%
28%
28%
*28%
30%
29%
29%
30
*28%
125% 126%
39% 39%
20%
72%
116
116
117
16
16
116% 116%
16
16%
3%
3%
72%
72%
7%
7%
16%
3
74
77g
357g
16
*72%
7%
35%
36
35
35%
18ig
*7212
77g
35i4
18i8
3%
*i8
20
18
18
16%
11%
74%
17%
17%
11%
11%
16
3%
73%
7%
27%
28%
28
28
16
3%
72%
100
107% 107%
79%
80%
120
120%
120
120%
120
,16
16%
3%
7%
7%
35%
34%
72%
*72
4%
4%
17%
478
17%
41%
42%
17%
42%
107% 107%
5%
5%
12% 12%
*105
6%
%
*2%
*14%
20%
16%
2
89
4012
278
39%
40%
31
30
31
39%
2%
31%
*31%
65%
33
65%
36i2
119
3,200
116
116
2,200
2%
11
10%
10
10%
1,600
72
72
65
39%
2%
32
32
32
32%
67
65%
66
65%
64%
66
36%
28%
61%
36%
28%
61%
60
64%
*160
65
163
158
5
36%
4%
36%
36%
30%
31
32
64%
63%
64
3
65%
2%
1,100
%
8,400
6i2
183s
♦68i8
4134
63
•
65g
108
6%
108% 108%
6%
678
18%
19%
74
*61%
41
*36%
6%
18%
18%
74
68
69
42
41%
63
63
41%
63%
23% July 28
2
107% July 13
6
101
44
Jan
9
Jan
8
conv pref
..100
100% July
7
Comm'l Invest Trust..No par
Conv preferred
No par
Jan
9
74% Aug 8
123% July 18
108
Aug 8
8234May 8
110% Jan
9
123
July 22
Jan 10
122
July 22
8034 Jan
55
$4.25conv pf ser of *35No par
Commercial Solvents. .No par
97
14%June 26
2% Apr 30
59% Apr 28
Commonw'lth & Sou...No par
$6 preferred series...No par
Conde Nast Pub Inc
No par
Aug 15
58% Dec
Feb
7
Feb
6% Mar
Jan
39%
110
Deo
Mar
Jan
Oct
24% Feb 21
56% Feb
110% Dec
97% July
16% Oct
5% Feb 17
978 Nov
5%
29
Feb 17
Jan
Dec
22% Dec
21
Deo
17% Deo
101% Nov
49% Deo
60
Dec
15% Oct
90% Dec
83
Dec
58
Oct
119% Aug
72
Aug
115%
Jan
% Mar
82
Dee
105
Oct
23%
3
Jan
Nov
2%
64
19
19
19%
19%
Mar
45% Nov
par
16
Jan
2
2534 Mar
4
Feb
21% Nc*
100
10
May
5
20
100
16
Aug
6
No par
8
June
3
33i2 Jan 3
133s Jan 22
Preferred
Consolidated Cigar
Preferred
89
89
67%
68%
21%
39
2%
31%
32
2,200
5,100
5,400
13,100
1,300
65%
65%
64
390
6,800
161
5%
36%
36%
30%
65%
62%
200
7,700
2,100
108% 108%
6%
6%
18% 19%
68
*61%
41
*36%
63%
64%
*61%
68
*61%
*36%
41
*36%
41
64
64
64
16%
70%
16%
16
16%
73
68
70%
~47266
16,000
600
Preferred
Jan 15
62
Mar
Mar 24
69
Nov
82
Feb
Mar 25
72% Oct
3% May
14% May
15% Feb
80
Mar
7%
22%
34%
105%
6%
12%
101%
8%
1%
Jan
Feb
Nov
Nov
Deo
Dec
1
Preferred
1,300
36,400
30,900
110
90
1,700
4,900
9,700
2,000
2.50
Continental Steel Corp.No par
Corn Exch Bank Trust Co .20
Corn Products Refining
5514 Apr 30
25
64
Aug 21
158
4
Aug 20
July
1
35
Mar 27
par
155gMar 16
par
435g Jan
$2.70 preferred
No par
$2.25 conv pref w w.No par
Cr W'mette Pap 1st pf.No par
Crown Zellerbach v t c.No par
Crucible Steel of America. .100
Preferred
(The)
102
7%May
l%July 13
100
Preferred...
10i8 Apr 28
63i2 Jan 7
35i2May 26
1678June 4
6ig Jan
Cudahy Packing
50
Curtis Pub Co (The)...No par
Preferred
No par
Class A
preferred
29
8,400
11,300
18%
19
18%
7,700
Delaware Lack <fe Western. .60
5%
200
Denv & Rio Gr West pref .100
500
Detroit Edison...
*13
15
*13
53%
*50%
34%
40%
52%
34%
40%
23%
18
*13
18
*13
18
*13
17
*54
55i2
54
54
*54
55
54
54
3412
42
34%
*39%
23%
34
34
*34
*40
41
40%
24%
24%
24
*18%
20
34%
41
23%
20
*18%
*18%
53%
35
40%
24%
No par
20
20
*984
10
7012
7138
*3934
*233g
4012
*39%
23
54%
9%
71%
40%
*39%
23
*21
54%
54%
*9%
69%
71%
1
2
514
*5
5%
30
*13%
14%
*115
1%
14%
*115
*1%
2
5%
5%
5%
*13%
14%
14%
-
-
-
-
*115
*13%
156% 158%
157% 159
159% 159%
159%
12984 12984 *129% 129%
12978 12978
129% 129%
129%
*113i2 114
*113% 114
113
*113% 114
113% 113%
15
15
*15
20
16
16
*16
15%
15%
*858
884
8%
8%
8%
8%
8%
8%
8%
181
*178
178
179
180% 177% 180% *177% 180
*158
16012 *159
159
159
*159
160%
160% 160%
3334
34
3384
38%
34
341*
33%
34%
34%
10
*984
9%
9%
9%
978
9%
9%
9%
37
37i8
37S8
36% 37%
37%
37%
38%
37%
•
*112
13%
113
14%
For footnotes see page
113
14%
113
1478
*111
14%
14%
113
15%
14%
158
17
8%
*15%
8
83*
160% 1601;>
10%
38%
33%
10%
34%
1034
36%
375*
*111% 113
*111% 113
14%
15%
13%
14%
Nov
47
Deo
6
June
Jan
7
16% Aug 20
89% Apr 6
Jan
22% Mar
10% Deo
58% Nov
28
Sept
24% Deo
43% Jan
19% Jan
Deo
4
Apr 29
10
3
2
Aug
6
Jan
13
June 12
Oct
19
Deo
Devoe & Raynolds A..No par
42
Jan 10
50%
Jan
52
Feb 20
23% Feb 20
9% Feb 7
Jan
Aug
6
Jan
8
43
Diamond Match.
Dixie-Vortex Co
3,500
.;
300
Dunhill International
Duplan Silk
100
1
No par
1
Aug 10
2
Apr 28
Jan 6
July 10
Jan
Jan 6
5% Jan 10
%May 20
U8 Jan 6
478JulylO
13% July 7
114
Feb
8
I)&Co.20 133
Apr
1,100
6% non-voting deb
100 129
Feb
270 Duquesne Light 1st pref...100 *111% June
30 Durham Hosiery Mills pf.100
13
Aug
2,300 Eastern Rolling Mills
5
5% July
1,200 Eastman Kodak (N J) .No par 156
Apr
70
6% cum preferred
100
152 July
4,700 Eaton Mfg Co
No par
2812 Jan
8,000 Eltlngon Schild
No par 584 Apr
10,200 Eleo Auto-Lite (The)
6
30a4 Apr
70
Preferred..
....100
110% Jan
3
10
49,500 Electric Boat
Apr
30
Du P de Nemours(E
3*-
100
19
Jan
18%
Dec
23% Mar
11
Mar
1%
5%
35% Aug
26% Jan
34% Jan
41
Apr
Nov
41% May
38% Deo
40% July 18
41%
7%
50%
278
29
conv ANo par
Preferred
600
6
2
34%
40
No par
.No par
Convertible class B_.No par
Duluth S S & Atlantic
100
Aug
18U Apr 30
19i2June 27
Dome Mines Ltd
1182,
75
Mar
100
Det & Mackinac Ry Co
Preferred
177% 178
June
16
33
200
160%
34%
Nov
61
6
Mar
38
"MOO
179
4% Deo
12% Deo
z95
70% Jan 27
No par
14%
19
24% Nov
105% June
65
Participating preferred...25
159%
129% *129% 129%
113% *112% 113
Mar
Distil Corp-Seagr's Ltd No par
700
*115
"
6% Mar
73
300
2
160
Mar
Jan 21
12,200
"""400
1
*115
158%
2
Deo
Rights
4% 47*
89% Mar
5
"""300 Dresser(SR)Mfg
*1%
Mar
45
40%
5
Dec
15
Deo
130
~40%
2
37
Dec
8% May
80% May
47% Jan
Feb
40%
*%
5% July
40% Jan
Deo
2%
14
Apr
Douglas Aircr Co Inc..No par
21
Jan
45
600
21
9
Jan
5
Deo
105%
May 12
41,800
1
Aug 12
9% Mar 11
1
Deo
Dec
65
74%
23
109
47% Apr
9%
38
Jan 24
9%
70%
~40_
18% Feb 4
14% Mar 9
107% Aug 19
44% Jan 14
24% Apr 13
Mar
Nov
60
10
*22%
*34
*1%
4%
1
Aug 20
2% Feb 4
14
48
100
Mar
73%
23
119
74% Mar
3% Mar
65
72
40%
*%
4
11% Sept
23% Mar
43% Jan
Feb 17
No par
Dominion Stores Ltd..No par
*39%
10% Ma-
46% Aug 13
Oct
Oct
4% Mar
35% Jan
153
100
56%
*21
1
July 22
60
148%
7
55
40%
109
21% Jan 31
58% July 27
40% Jan 25
20
10
82%June 18
168% Apr 15
7% Mar 6
37% June 19
32
Aug 19
65% Aug 21
47% Apr 28
49% Aug 19
Deo
69% Deo
78% July
165
May
7% Dec
39% Mar
19% Deo
48% Nov
6
55%
23
*5%
14i2
9%
41% Mar
2% Nov
Feb
55%
*9%
72%
*1%
514
*1334
9%
55%
71
*%
2
*84
*1%
10
54%
Jan 14
69
44% Dec
35
Mar
Class A
54%
9%
68%
Jan
31
34%
20
%
26
100
40%
22%
*18%
28% Mar
15% Mar
Deo
2
Corp. 10
Delaware & Hudson
40%
23%
*18%
24
20% Deo"
191* Apr 28
36% Jan 20
1478 Apr 30
4% Jan 4
128 May 12
Preferred
Delsel-Wemmer-Gllb
34%
■
99% Nov
5% non-cum preferred. .100
17
*13
5%
69
Jan
Jan
23% Deo
11% Dec
1% Dec
27
5
Co
Jan
7
% Apr
Mar 20
21% Mar
36igMay 17
6
7% Apr 27
Det Hillsdale & SWRR ColOO
*4
Feb 11
4
46%
62%
Dec
4% Mar
52
Inc.No par
Davega Stores Corp
Dec
Dec
Nov
4314 Jan
No par
Cutler-Hammer
5
46
90
6
May 28
Jan
22
38% Feb 11
46
Apr 8
10i2 Jan
25%
43%
4
24% Mar
60
Cushman's Sons 7% pref-.lOO
29
4
Jan 15
4
24%
41%
17%
4
7
99i2 Mar 13
Curtlss-Wright
25%
4
4
Apr 30
95i2 Apr 29
100
10
28%
5%
Jan 27
28
No par
45
*2%
7
45% July 29
46U July 22
100
24
5%
9
100
43%
*2%
July
...No par
Cream of Wheat ctfs...No par
Preferred
45%
151
27
Coty Inc
24%
5
351; Apr 30
2i8 Apr 30
28i8June 6
1
5
29
151
17%June 30
72% Feb
1% Mar
6% Mar
100% Dec
2% Jan
% Aug
74
4% Apr 18
20% Apr 17
89% Aug 17
87% Jan 13
29
19
18%
19%
18%
*5%
6%
*5%
6%
151% 151% *151
151%
5
1% Jan 16
3
7
Continental Oil of Del
Deere &
11% Feb
67%May
Continental Insurance
Continental Motors
8%
106% June 30
67% Jan
43%
6%
June 18
2
12%June 18
Continental Diamond Fibre. .5
24%
*578
6
6
20
Continental Can Inc
44%
151% 151%
Jao
6% Aug 17
%May 5
July 14
6% Feb 10
15% Mar
2
29%
6%
101
109
1% Jan
24%
18%
3
...No par
100
Class B
29
151% 151%
Jan
37g Apr 28
11% Apr 30
7% Feb 13
20% Feb 13
44% Aug 10
26% Mar 9
19% Mar 3
2% Feb 21
43%
28%
102
Consol RR of Cuba pref
100
{Consolidated Textile..No par
Consol Coal Co (Del) v t c.25
Cuba Co
300
July
78
Consol Laundries Corp
5
Consol Oil Corp
No par
Preferred
No par
Cuba RR 6% pref
Cuban-American Sugar
5,800
58% Sept
11% Nov
85
No par
120
1,550
Mar
85
.100
Consol Ed Co of N Y..No par
$5 preferred
No par
600
28,400
7
72% Jan 27
73i2 Feb 13
4% Apr 30
15% Apr 30
27% Apr 30
1,100
11,500 Crosley Radio Corp...No
No
18,300 Crown Cork & Seal
"
49
Nov
6534June 24
-
6
5,300
2,000
11,900
9
14% Nov
24
100
Prior pref ex-warrants
Consol Film Indus
103g Jan
180
Jan 10
...100
Prior preferred
Continental Bak CI A ..No par
1%
64
64
27
8,900
m
68
8
16
29
6%
4412 Jan
15%
1%
36%
31%
64%
6%
Deo
7
7
1534May 14
5
108% 108%
11
307g Aug
5% preferred v t c
100
Container Corp of Amerlca_20
36%
31%
£63%
108% 108%
6%
6%
12% Feb 27
par
3,100
5%
mm —
300
Oct
3
29% Jan
5% Mar
71
July
Congoleum-Nairn Inc..No
Congress Cigar
No
24%
143g
2
110
44
1334
Jan
10
24%
lllis 112
Mar
4
Mar
90% Jan
100
29%
158
14
36
100
29%
*115
5
Dec
21
Jan
10%
June
107% Deo
% Mar
Jan 11
36% Feb 20
3778 Mar 11
preferred
43%
18%
*5%
*15s
9% Feb 19
49
May
6%
Mar
5% preferred
Commercial Credit
24
1
Dec
42i2May 26
100
29i2
245g
24
109
Jan 15
2834 July 20
31
Preferred series A
16%
*78
Deo
69% Mar
112
Dec
Mar
73%
5512
60
40%
48%
3%
35%
16
*5434
Mar
*45% Jan 22
51% Jan 23
72%
*18i2
9
15% June
May 20
16%
24ig
20
5512 July 31
31
No par
74
2312
Jan
Aug 14
3% Mar 16
No par
Columbia Gas & Elec__Aro par
16
*34
101
June 30
7
72%
*3978
Deo
136i2 Aug 11
16
512
93
5778June 5
2012 Jan 6
10612 Feb 28
72% Nov
53% Apr
7
75
*3
12214 July 31
2
16
63
May
Jan 31
Jan
72
1834
126
Jan
16
183g
Aug
16
7434
*57g
110
94
1578
*151i4 152
Jan 15
15
5%
mm.
108
1834
445g
48% Dec
52%
50
100
74i2
293g
24i8
44i2
3% Apr
12% May
93% Dec
24% May
May
6% Nov
27% Deo
100
48
20%
"9"
1083g
Oct
t c No par
Col Plct Corp v 10
$2.75 conv pref
5H%
434 %
Mar
12
July
21% Jan
19% Jan
..100
v
Dec
Nov
June
24
100
4% 1st preferred
31
69% Sept
Deo
9
26
27% July
par
..100
4% 2d preferred
Columbian Carbon
31%
48
15
48%
49
49
48%
49
48%
49%
49%
48% 49%
*108%
*108%
*108% 'mm
*109%
*109%
*834
9
9
9
8%
8%
9%
8%
8%
8%
8%
4312 44i2
44
44
42% 45
43% 44
46%
46%
42%
44%
*116
11812 116% 116% *116
118
118% 118%
118% 119
117% 117%
*ll2
15S
*1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1H2
12
in2 *11%
12
12
11%
11%
*11%
12
*11%
*11%
10%
1114
10%
11%
10%
11%
11%
11%
11
10%
11%
10%
98
98
97% 99%
106
9878 103%
104% 107%
106% 104
104%
*37i4
3778
38
37% 37% *37
37
*37%
37%
*37%
37
37%
20i8
20i2
20
20
20%
20% 20%
20
20%
19%
19%
19%
....
1,500
35,200
6%
483g
*108i2
108
Preferred
Feb
20
39% Apr 30
107% Jan 3
8'4 Jan 6
100
Colorado & Southern
2
9
Feb 20
13
Colonial Beacon Oil...No par
{Colorado Fuel & Iron .No
Mar
Sept
3% Mar
7Ci2 Feb 7
129
July 28
100
No par
Preferred
46
25
55% Jan 16
No par
Collins & Alkman
7
20%
*150
160
2,400
31,900
100
106
6%
%
38%
2%
29%
30%
65%
31%
5
106
20
500
5%
12%
21
39%
65%
*5%
110
1,700
107
12%
21%
39
64%
107
21%
2%
31%
163
36%
27%
~
31%
5
59i2
17
42%
31
*160
4%
16%
40%
38%
5
4%
17
43%
*66
66%
76
17
40
2%
78%
76
42%
31%
32%
163
2 884
4%
4%
60
78%
76
17%
21%
5
*58i2
4%
400
43
21
*160
*28
4%
17%
41%
21%
3
700
11
*31%
2%
7%
60
*.
21
36i2
119
17%
....
21%
66i2
1,700
16,400
*16%
108
107
107
107% 107% *107
5%
5%
5%
5%
5%
5%
12%
12%
12%
12%
12%
12%
*106
*105%
*105%
7
*7
6%
7%
*6%
7%
6%
%
%
%
%
%
%
%
*3
3
3%
3
*2%
3%
3%
15
15%
*14%
15%
15%
15%
15%
21
21
20%
20% 2078
21%
21%
17
17
17%
16%
17%
17%
16%
2
2
2
1%
1%
1%
1%
89
89% a.88% 88% a.88%
88%
88%
68
69%
69
69%
68%
68%
68%
68%
21%
478
*48i4
4%
17%
41%
163
130
17%
73
478
400
*16%
10%
80
*160
300
16%
*75
66i4
6.100
57,800
16%
*72
*6512
66i4
10
1,300
18
*78%
33l2
50
18
91
*32
50
20
74%
234
220
*18
80
31
Colgate-Palmollve-Peet No par
6% preferred
100
20
*75
40 I4
"moo
6,700
30i4 Jan
11% Jan 24
36% Aug 13
124% July 27
Connecticut Ry & Ltg
16%
11%
*18
*78%
2H2
84
700
*72
68i4
Coca-Cola Co (The)...No par
8,600
72
21l4
1,200
70%
91
*87
124
7%
34%
80
17S
8812
6834
100
33
7%
72
165g
Apr 28
73
80
15i8
205g
Mar 30
35
*75
15i8
205s
*16i8
1%
July
Class A
$ per share
4618 Mar 24
IIH4 Aug 13
48
600
$ per share
7
434 Jan
No par
Preferred
Highest
$ per share
2334 Jan 21
10714 Jan 4
5
Equipment
Clev El Ilium Co pref_.No
par
Clev Graph Bronze Co
Year 1935 *
Lowest
1978 Feb 14
8634 Aug 19
73s Mar 5
15% Jan
727g Jan
100
33
42,300
91
73g
85i2 Jan 21
No par
48
3%
80
7i4
*%
*234
5
8
par
3%
70%
80
*107i8
5i4
123g
*I05i2
105% 105%
79%
77%
Jan
(The).l
6,900
71% 73
Jan
Clev & Pitts RR Co
special 50
Cluett Peabody & Co..No
50
400
3%
*75
5
1,000
13,300
91
*434
100
16%
80
42 ig
Clark
7
25
City Stores
2,600
15%
74i2
7934
*17i2
2,400
par
25
Preferred
16%
3%
72%
7%
34%
101
*100
73%
1H8
741
28%
125
46
11%
*75
28%
123
21%
105% 107
80%
78%
117
120%
16i4
3%
28%
10
No
Chrysler Corp
City Ice & Fuel
360
470
26
72%
3,000
2,900
28
*28% 29%
126% 126%
39%
38%
73%
5(%266
5%
29
Cotton Oil
Chile Copper Co.
260
28%
100
Childs Co
273g
28
101
Chlckasha
Range for Previous
Lots
Highest
$ per share
20 June 12
Par
.
1,200
2738
29
46
106% 106%
78
77%
115% 116%
116
110
„
1,200
5%
6
.
5H2
39
37%
46
45%
45%
20
20%
20%
21%
105% 105% *105% 106
*105% 107
*45
*100
72%
----
*5612
13l2
6
101
3238
....
*101
*110
8I4
Lowest
,
3634
II3I4 H412
167g
17
£85% 85i2
7
6i2
7
7i8
323g
32i4
3212
33%
*llli4
*llli4
3512
35i2
35i2
35i2
*4934
5034
*4934
5034
56 i2
5658
5812
58i2
*12612
*12612 •
*115% 115i2
1143g 11584
*56i2
57i2
*5612
5712
1334
13%
1334
13i2
102
101% 10134 *101
8634
\
3314
*llll4
8
*33
1085g 11334
167g
17
84i2
85
*
33
3312
23
3634
*33
17
86I4
23
23i2
83g
23i8
83g
„8%
3634
113l4 114
*33
7
28
27% 28
28%
30
*28% 30
*28%
*29% 30%
29% 29%
*28% 30
30
*28%
*124% 129
*125% 127%
39
39%
39%
39%
*45
*45
46%
46%
20% 21%
21
20%
*105
106
106
106%
101
2384
838
*33
105% 105%
77%
77%
115% 116
11534 116
*115
116
23
23%
884
3634
1127g 11384
17
1714
85l4
86
834
3 634
11212 H47g
167g
17i4
*3134
3212
111% 111% *11114
*35
3634
*35l2
*47
23
23i2
834
*33
1185
7
12
11
1
21
Jan
/79% July 30
6'^6 July 30
40% Aug 10
25% Aug 7
?4%
Jan
6% May
17% Mar
"l3%
3
18%
115%
167%
133%
115%
9
Jan 17
July 28
July 29
Apr 1
Feb 14
Jan 13
9% Feb 11
185
Aug
166
Mar 13
6
37
Apr
8
6
10% Aug 21
44% Feb 19
114
% June
% June
Jan 15
8% Mar
Feb
6
17% Feb
4
Mar
6% Mar
1% Jan 15
25
Dec
June 19
61%June 4
11% Jan 23
28
24
28
27
23
30
33
2
June
12% May
103
Mar
44% Deo
12% Jan
58% Deo
~32~
Nov
17% Deo
1
Deo
1% Dec
8% Deo
19
Aug
116
Nov
86% Mar
126% Feb
146% Nov
104
Feb
115
12
Nov
3% Mar
132
Oct
Aug
27% Deo
8
Jan
110%
Jan
172% Nov
141
Jan
164
16%
Jan
3% Mar
19% June
107
Jan
3% Mar
July
30% Oct
8% Nov
38% Oct
113% Sept
14%
Deo
/
New York Stock Record—Continued—Page 5
1186
LOW
NEW YORK
for
Thursday
Aug. 15
Aug. 17
Aug. 18
Aug. 19
Aug. 20
Friday
Aug. 21
$ per share
$ per share
$ per share
$ per share
$ per share
$ per share
15
1512
7534
*7434
72is
*70%
*a4
45%
7g
45%
34
*178
*60%
218
67
*2
7534
*71
45%
•
*110
.
*60
15%
74i8
70%
75%
70%
*73%
4578
4618
46%
34
7534
71i2
4578
34
2l2
6478
34
2is
2
70%
84
*2
60
60
110
5%
5%
15
71
70
70
4612
4578
46%
500
60
60
*3,
*
-o
*134
*57%
238
62
.
*110% 111
13
*12U
_
12
600
*65
74
*7078
74
*7078
74
*70
74
75
*707«
82
*75
82
*75
82
*75
82
*82
85
*82
85
*75
85
*80
85
*80
85
*80
85
*75
7934
*75
81
6
-6
6
1534
2478
*163s
*1412
2534
*6%
*3
13%
53%
*155
1534
1434
25i2
*634
54
4578
*24%
25%
1478
*638
-
638
3
14%
13%
13%
54
54
161
*157
163
46
46
48
45%
54%
16
26%
15%
24%
25
18
17
17%
14%
13%
1-4%
2,000
Eureka
2634
25%
27
3,900
Evans Products Co
6%
6%
3
27g
13%
53%
*27g
630
3%
14
48
13
13
54
3,400
16078
47%
7,600
1607g *154
48
45%
24%
99%
25
24
*94
*94
97
*94
97
*94
97
*36%
39%
*36%
39%
*36%
39%
*36%
38%
*36%
38%
*36%
90
*83
90
*83
90
*83
88
*83
88
*83
88
24%
25%
*24%
*94
*94% 100
100
*8%
8%
8%
8%
8%
*4
4%
4
4
4%
47g
47g
47g
8%
4%
484
4%
478
24%
47g
47g
*35
43%
27%
36%
4234
43
*33%
*11078 113
*11078 113
104
36
3634
43%
*33%
33%
*31%
39
34
*30
32%
5%
3734
5
5
*36%
4
378
4%
43
*111% 113
27%
27%
2778
5%
36%
5%
5%
37%
5%
37
37%
26
*57%
26
26%
*120
61
37%
11%
*120
60%
60%
*5734
*35%
634
13%
25%
26%
125
*36%
3734
3784
6%
26
125
25%
*120
*58%
60%
37%
37%
25%
5%
37%
| 5%
137%
*140
*13%
36%
*105
*55%
*141
*140
155
8%
8%
1334
36%
110
57%
8%
13%
36%
37%
110
110
55%
55%
*141
*140
8%
1334
36%
110
150
151
8%
14%
150
38%
39
*8%
13
13%
3634
37%
110
110
55
55
*54
150
*141
.
4578
46%
*140
8%
*141
4678
46
38%
46%
151
3834
38%
45%
46%
38%
38%
2
2
2
2
2
*39
43
*39
41
39
43
*32%
43
*32%
43
*35
63%
*120
6534
122
43%
9
*56%
*108
4%
45%
*
51
*34
'
-
*30%
121
-
66%
122
45
934
9%
57
110
56%
•
*108
4%
4%
46%
2%
31
*36
51
64%
64%
121
*120
44%
*
46
10%
56%
31
*4
4%
44%
46%
113
"2%
108
110
*
2%
3134
40
40
4034
417g
47
47
24
46%
2334
24%
34%
24%
34%
34%
34%
14
14%
14
14%
75
75
75
75
16%
*106%
16%
108
41
41%
54
54
16%
107
417g
53%
47
17
107
108
45
113
"2%
234
3234
41%
*44%
23%
35%
44%
*
35
2%
35%
*55
*108
*4%
45%
*109
55
110
*108
110
4%
4%
46%
113
2%
43%
♦
35%
10
234
42%
22%
23%
23
23%
23%
23%
107
107%
22%
22%
23%
23%
23»4
95%
95%
97
98
9%
95%
9%
95%
*9%
9%
9
*91%
2%
2%
3%
*16%
*2634
40%
7%
10734 108
23
23%
98%
99
1784
108%
13,200
1,800
5,600
42%
41%
42%
54%
54
54%
1,200
4%
4%
7%
7%
7%
2,500
2,300
12%
127g
12%
12%
7,700
23%
24%
23
24%
38,900
107% 108%
23»4
23%
106
107%
2,500
23%
98%
20,400
99%
99%
98%
*9%
92
9%
878
9234
91%
2%
2%
2%
2%
2%
2%
2%
2%
2%
234
2%
234
2%
3%
1734
3%
3%
3%
3%
3%
234
3%
*16%
1734
*17%
1,700
1,100
92
27
4078
9%
*91%
*2634
41
9%
92
*17
18
18%
18%
3834
40%
36
36
36
36
36
36%
3534
149% 149% *149
*54
*54
5934
35%
36
5934
287g
29%
28%
79
79%
57%
5734
2%
28%
*70
36%
150
5934
2834
28
2834
807g
*70
7934
59
59%
57%
*2%
58
2884
*70
5834
29%
7934
59%
*70
36%
*54
*2
34
35
35
36
36
*32
*15
16
16
16%
*15
16
49
49
*47
48
48
48
48%
49%
*48
49%
2%
2%
2%
2%
2%
20
59%
2,400
2%
1,300
30
35%
16
79%
57%
2%
2%
32
*15
34%
6,800
32
400
1534
200
47%
700
28%
59% / 59%
16
2%
5934
29%
*70
79%
*14
47%
*54
58
*53
57
57
*54
56
129
*122
129
*122
129
*122
129
*122
125
120
122
*33
34
*33
34
*33
34
*33
34
*33
34
*33
34
37
37
*36
37
*36
37
*36
37
10%
107g
200
56
*122
*54
587„
*36
*36
107g
11%
10%
11%
597g
10%
*17
18
*17
18
*17
18
*17
*113
117
*113
117
*113
117
*113
*101% 10284
38%
38%
*125
126
101% 101% *101% 102
39
39
*125
126
14
11%
11%
117g
10%
11%
177g
17
17
17
*113
117
*113
*101% 103%
39
*125
126
*125
14
14
14
14
14
39%
39%
40
39
126
*125
1434
1334
■
-
-
56 preferred
—No par
No par
Signal.—No par
100
July 29
537g Jan
6
Jan 27
118
18% Jan
584 Jan
2
3
38
Feb 17
105
Jan 17
3% Apr 28
Gen Realty A Utilities
Glmbel Brothers
.1
32% Apr 28
Jan 10
106
No par
100
Preferred
Glldden Co (The).,,
46% Nov
127%
No par
Preferred
....100
Goodyear Tire A Rubb. No par
1st preferred
..No par
,
Grand Union Co tr ctfs
Grant (W T)
Oct
Mar
1534
Jan
59?g
Feb
Aug
Aug
Aug
18
Apr
72% Oct
18
Jan *120%
26% Mar
Deo
59% Nov
120
Nov
47% Aug 18
10
Mar
21
Deo
10% Aug 13
57% Aug 6
3
Aug
17%
93%
Feb
Jan
6% Dec
42% Nov
110
June 20
63s Feb
5
Feb
4
50
118% Mar 14
1% Mar
15% Mar
80
Jan
109
109
84 Apr
1434 Mar
3%
39%
44% Apr
16s4
14
Jan
Apr
33%
60% Feb
12
Mar
37S Jan 21
43
Feb 21
8
7
3
3678 July 25
Oct
4% Nov
41% Deo
51
Oct
Dec
Deo
Deo
Nov
2578 Aug
18% Jan 16
90
Jan 24
70% Jan
2% Mar
18
19% Aug
Aug
93
884 Dec
Deo
Mar
75«4
Feb
49%
7% Feb 28
1% Apr
4>4
10% Feb 17
21% Jan 6
14% May
24% Aug 20
23%
7% Mar
22
Deo
Jan
Nov
14%
Deo
82
Deo
40
267g
2
1534 Mar
70
Apr
92
Jan
8% Apr 28
12% Mar 11
2% Apr
20
Apr
1% June
10%
Deo
85
Deo
,
21% July
8
Jan
87
77
2
Jan
6
June 30
l%July
6
No par
28% Jan 16
——No par
Feb
8
Oct
Nov
July
July 25
3178 Apr 15
9934 Feb 17
78
No par
Conv pref series
Granite City Steel
407g
377g
1%
15%
Jan
10934 Aug 13
55% Jan 14
55
July 27
13% Jan 21
Jan 6
Nov
% July
Jan
11
116
6
145%
zl07%
3
6
3% Apr 30
16
Apr 29
24% Aug 4
1
72% July 27
122»4 July
Jan
69
12% Aug 17
..
6
1734 Aug 20
1
1
70% Jan
6
No par
50
conv preferred
Feb 24
55
121%May 13
6% Nov
Jan
Sept
%
5
6s4 Jan
3984 June 11
52% July 6
37g Jan 2
67s June 30
No par
Gobel (Adolf)
Goebel Brewing Co
Gold Dust Corp v t c
Goodrich Co (B F)
28
25
30
30
111
96
4%
11%
6%
23%
July
3
Feb 19
Mar
Jan
4% Oct
3% Nov
Mar 20
5% Mar
Jan 15
2% Mar
5
Jan
Jan 15
14% May
2934
Jan
18% Mar
35% Nov
26
38% Sept
35% Apr
2
43% Aug 10
Mar
Jan
2
20% Feb 19
9% Mar
16
Deo
32% Jan
6
44
Feb 21
9% Mar
35%
Deo
31
Jan
7
136
Jan
16
39
Mar
9
26%
Jan
347g May
6
149% Aug 14
119
Jan
140
50% Mar
56% Aug 13
21
Apr
50
Green (H L) Co Inc
1
22
9
Apr 28
297g July 28
25% Nov
28%
Dec
Copper... 100
65
May 21
34
95
Deo
Preferred
Greene Cananea
100
Greyhound Corp (The)
Guantanamo Sugar
No par
Preferred...
100
Gulf Mobile A Northern... 100
Preferred
Gulf States Steel
Preferred
100
No par
48>4May 11
7
1
7
39
Mar 19
19
Feb
2
2
7
1984 Mar
4
4
Mar
55
Mar
3
6
Apr
63
Aug
8
12
Mar
Jan 24
122
Aug 14
48
Mar
105
30
Jan
4
25
6
Jan
9
Hamilton Watch Co.—No par
Preferred
100
14
* Jan
2
109
"50
Hanna (M A) Co 55 pf.No par
100
3,600
Harbison-Walk Refrao.No par
Preferred
100
120
200
-
39%
126
•
-
__
5,200
14%
Hat Corp of Ameiioa cl A...
.
1
l>
"4",600
preferred
Hayes Body Corp
...100
2
6% July
7
25
7% preferred class A
Hall Printing
80% Jan 27
Feb
July
..10
23,600
Jan 23
l%July
100
Hackensack Water
95
9% Jan
30% Jan
28% Jan
24
33
10
101% 101% *101% 10334
39
126
1182
-
-
117
117
14%
14%
14%
*1047g 109
*1047g 109
*1047g 109
*1047g 109
*1047g 109
*1047g 109
5
5
5%
5%
5%
5%
5I4
5%
5%
5%
5%
5%
For footnotes see page
110
*
»
17
*125
38»4
5778
76
Green Bay A West RR Co. 100
40
*149
*15
33
General Printing Ink..No par
Great Western Sugar..No par
19
41%
36
No par
2,700
I884
40%
*54
Common
Gt Nor Iron Ore Prop. No par
Great Northern pref
100
18%
41%
65
10
$5 preferred
—No par
Gen Outdoor Adv A...No par
1,000
14,500
18%
*55
General Motors Corp
700
40%
18% Nov
Mar
3
2,800
18%
Mar
19% Jan
58
117% Jan 13
Oct
Aug
10% Nov
Mar
517g Aug
100
146
Deo
Nov
2
49
No par
Deo
Dee
Sept
4
3
Preferred
5% Nov
19
2
267g
40%
Jan
5% Mar
3
41%
18%
115
Jan
2634
40%
32% Mar
II34 Mar
7% Mar
Jan
3
Deo
Deo
*
13%
7g Jan
July 27
Nov
55
4
107g
100%
48%
22%
*133g
19
4% Feb
30% Nov
125
Mar
14
4034
18%
65
57 pref class A
58 pref class A
General Mills.—
27
41%
Aug 21
Deo
Nov
5% Mar
84% Jan
33% Feb 18
42
40%
59%June 20
7
Deo
36% Nov
7g May
No par
No par
..No par
41S4
*18%
*56%
28%
Conv pref series A
27
1834
149% 149% al49% 149% *149
Gen'l Gas A Elec A
Graham-Paige Motors
Gr'by Con M S A P 2d stpd 100
200
Aug 19
150
4»4 Mar
20%
14,000
18,800
1,000
15% Feb 11
39% Aug 10
Mar
15
.-No par
No par
General Foods
4H%
150% July 29
1184 Jan 11
112
70
30
41%
41»4
6
Jan 21
63
30% Apr
17% Mar
112% June
Dec
30
48% Aug 10
27
413g
52% Aug
140
25% Dec
1027g Deo
111
43%June22
80
18
*i8%
2
Dec
Sept
July
97g Mar
34% Apr 30
No par
General Electric
Gotham Silk Hose.——No par
Preferred
100
9%
9234
9%
2
17
7
4%
7%
22%
2
Jan
70% Jan
13%June 25
70
Aug 21
42%
54%
4%
2
30% July
1,700
17%
Jan 23
Gen Time Instru Coip No par
74%
16%
17%
107% 108%
108
5
7% July
584 Jan
25
60% Mar
19% Mar
6
6
Gillette Safety Razor-.No par
Conv preferred—... No par
70
7% Aug
6
800
75
77% Feb
Feb
7,200
75
Feb 17
3934 July 29
14% Jan
6
75'4
127
3484 Feb
July
75%
111% Apr 21
3834 Feb 17
2
July
17
757g
5
IO84 Apr 28
42% Apr 30
Gen Theatres EquIpCrpNo par
*75
47% Mar
18% Jan 27
3
Gen Steel Castings pf_.No par
33
32% July 31
1184 Mar 2
12% Feb 19
104% Apr 21
Jan
45%
114
35% Aug 21
8igMay 20
140
14%
July 29
ll%May 11
97
9,300
33
17%
No par
——.100
6
4,700
14
108%
100
3
2
Apr
28%May
33% Apr
32% Apr
2,500
35
34%
17%
384 Jan
141
No par
34
8
35% Feb 4
23% July 15
Apr 14
118%June 3 xl35
75
Feb 20
47% Jan 17
53% Feb 29
31% Apr 30
July
63
56 preferred
No par
General Refractories.—No par
52,100
14%
108
Jan
Dec
21
—No par
5,500
46%
5
5
7% cum preferred
General Cigar Ino
7% preferred
4% Jan
3% Aug
Aug
25
934
No par
Class A
Feb
6%
10
5
Gen Railway
Preferred
34%
17%
17%
108% 108%
No par
Preferred
Gen Public Service
'
35
(The) —No par
Gen Amer Investors.—No par
1,000
4%
113
"2%
284
3484
200
55
56%
14
107% 107%
27
16,400
14%
23
40%
5,000
934
34%
13
27
47%
9%
14
7%
40%
45%
10
34%
127g
18'
47
9%
14%
7%
3%
4634
34
1284
41
700
637g
121
14
7%
27
84,200
66%
34
12%
41
66
121
6534
121% 121%
2334
4%
7%
*2634
10
45
127g
*17%
1,200
4334
7%
18
63
123
51
2234
12%
1784
63
*120
.
43
4%
3%
10
64
123
451
45
54%
3%
54
*64
*120
23%
*4%
3%
20
-
48
54%
2%
-
44
4%
2%
-
170
43%
4134
92
•
>
23%
54%
134
*45
7,600
10,800
2%
40%
46
54
*91%
2%
39
2
40%
*42
49,400
46%
38%
2%
10
44%
41%
1%
44%
39%
200
150
46
53%
2%
47
9 2
1,100
150
150
*46%
*38%
3,600
24
7%
92
55%
3,800
46
43%
42%
1%
*55
*143%
13
36%
23%
42
2%
12%
35%
37
112
112
8%
111% 112
*55
55%
13%
13%
•'36%
Gamewell Co
58 preferred
151
8
46
43
127g
23%
92
General Cable
*140
1178
24
*4%
7%
107%
General Bronze
45%
113
"2%
1234
23%
1,900
4%
4%
107
General Asphalt
General Baking
637g
4%
4%
Gen Amer Trans Corp
51
110
8,200
2,200
1134
43
*4
120
pref.No par
56 2d pref
No par
Gabriel Co (The) cl A..No par
3,000
42
123
36%
10
100
Preferred
Fuller (G A) prior
•6,800
42
*108
4%
36
39
*120
70
lll78
r 39
63 7g
64%
58%
200
2
*34
51
123
57%
990
66
66%
65%
65%
121%
121% 12134 *121
4634
46%
47%
46%
10
934
10%
934
*53
58%
*54.
58%
65%
66%
*121% 122
44
113
*2%
64
63%
->
Freeport Texas Co—
110
103%
100% 100% *100
56
57%
54%
*57
23
2334
23%
*23%
40
*32%
20
4,100
4,100
55%
46%
39%
1
7%pf 100
6%
13%
150
71%
120
7g
30%
6
24% Apr 30
9584 July
1
30%June 5
No par
25%
25
Apr
May
8% Dec
2% Mar
20% Jan
Aug 21
*68
72
95
587g Aug
Apr 30
33
Aug 11
25% Mar 21
4% Jan
No par
F'kin Simon A Co Inc
384 Mar
2
July
Feb
100
No par
Fourth Nat Invest ww
12% Mar 4
578 Mar 6
5% July 24
3734 July 28
49% Feb 14
19
106
2,000
Apr
Apr
44% Nov
June 26
38%
54
Dec
21% Nov
x85
Aug
4834June 23
32
38
40
6
125
33% Feb 11
105% July 17
40
No par
Preferred
6
Mar
Dec
2
100% Feb 26
X Follansbee Bros
43^ % conv pref
Foster-Wheeler
Jan
Mar
Dec
Deo
39%
x247s Jan
100
Food Machinery Corp new—10
10
48
92
3%
1137g Apr 22
2,200
5,600
99% Aug 11
101
Nov
6
15
4
3,700
32
5% Mar
Jan
19% Dec
13% Deo
147g Aug
40% Dec
Jan
20% Jan 27
110
5%
106
8
14
16% Mar
28% Mar
16
Apr
106% Mar
13% May
84% Apr
3784
—
1034
37
9
3
Apr 28
2% Jan 2
20% Jan 9
38
Apr 30
Florshelm Shoe class A .No par
13%
112
7% Jan
Fllntkote Co
(The)
26% Aug
3
100
40
8%
Jan
9,100
6%
|151
Dec
32%
10
8%
115
35%
13%
*
160% July 25
49
Aug 19
First National Stores.-No par
678
*140
Jan 7
Feb 24
400
11
8%
Jan
3,000
109 •
12
17
48
3I84
120 "
18% Mar 25
Mar
55% Nov
7% Dec
'
Firestone Tire A Rubber—10
Preferred series A..
Apr
% Mar
54 % Aug 12
Aug 10
697g Mar 30
Federated Dept
1434
£14
*11
2
2%
106
38
39
39
*33
151
6,000
May
2
7
Jan
37
Stores.No par
Fidel Phen Fire Ins N Y
50
Fllene's (Wm) Sons Co.No par
63^ % preferred
100
,109
25%
3734 1*36%
634
6%
7
6%
6%
678
15
15%
1434
14%
14%
14%
11
11
11%
11%
11%
11%
100% 100% *100% 103% *100% 103% *100% 100%
58
58
57%
5634
57%
57%
5734
57%
23%
23%
2334
23%
23%
23%
23% 2334
12
12
12
12
12
1178
1178
12%
7
925%
450
15
5'4 Mar 25
4
104
37%
121
1121
6034
6O84 1*58%
11%
2,500
104
121
13%
41
47%
3334
*31%
434
*106
109
*105% 109
*105% 10878 *105% 109
*105% 109
33
34
34%
33
34%
33
34%
33%
33%
337g
110% 110%
*108% 111
*108% 111
*108% 111
*108% 111
3834
3834
3834
3834
38%
38%
38%
38%
38% 3834
70
*68
70
*68
71%
*68
75
*68
71%
7,1%
*121% 125
3534
Nov
10% Mar
Apr 29
84
Federal Water Serv A—No par
*33%
111% 111%
26%
27%
*33%
111% 111%
55
15% Mar
4% Aug
1578 Aug 10
4078 Jan 8
3
Dec
Feb
14%
7% Mar
8% Mar
8% Mar 19
Sept
8% Nov
Nov
684 Mar
7
I7g Aug
66
134
•
50
Feb 15
1834 Apr 30
Federal Screw Works ..No par
40
42%
700
2,400
2,400
17% Feb 21
2734 Feb 21
2
3
5884 Nov
7g Jan
Mar
14
19
Jan
8%
3484
122%
31%
Federal Motor Truck.-No par
484
36%
June 30
5234 Jan
12534 Jan
1% Mar
3
2%June
100
1,700
4
47g
36%
42
36%
m m
June 30
7% Feb 21
Apr 30
Apr 29
12
Federal Mln A Smelt Co.-.100
8%
4%
*33%
«
-
«
Preferred
8
27%
27%
27%
105
*104
105
103% 103% *104
48
47%
47%
46%
47%
46%
34
35%
35% *35
34%
33%
*31%
32%
*31%
32%
32%
32%
47%
33%
33%
32%
434
*37%
46%
1,400
«
8%
36
47g
113
*111
*103% 105
47%
---
24
4
4%
427g
43
•
24
24%
8%
8%
36%
36%
36%
43
*33%
2734
27%
2734
104
4684
8%
•
97
.
23% July
4% Jan
6% conv preferred
100
Fajardo Sug Co of
o Rico.20
Federal Light A Trac— —15
Preferred
..No par
-
15% Apr 17
89% June 30
16
Fairbanks Morse A Co. No par
38%
*83
-
,
July 22
Jan
11
25
100
Preferred
270
52
7
69
116
3
Mar
% Mar
% Apr
Jan
11% Jan
Exchange Buffet Corp. No par
Fairbanks Co—
39
84
5% Apr
5
300
6%
5334
*157
49
*6
Feb
share $ per share
8% Feb
5% Sept
7% Aug
1% Mar
3
Mar
34% Dee
31«4 DCO
2% Mar
per
6
55
Vacuum Cleaner....5
14%
162
4784
1534
378 Feb
48
preferred—..No par
26%
54%
*158
55 conv
9
45% Jan 14
55H preferred
No par
56 preferred
No par
5,000 Equlpable Office Bldg. No par
100
6,600 Erie
Flrt preferred
—..100
4,600
Second preferred
900
100
6
1534
3%
14%
5334
.
578
1778
14%
26i4
638
14i2
25%
6
200
26
2612
173s
17%
3
3
1384
53%
*158
165
4534
16
2534
25%
3
1334
13%
16
2514
17%
1478
2534
678
*1634
I
3
3%
16
2538
1634
1434
25%
1684
6
6i8
I6I4
6is
638
2434
16
2434
16
25%
17
1434
2534
678
6
% Jan
7% Jan
July
78
July 27
55% Jan 7
1% Feb 5
1% Jan
53% July 25
110
Aug 18
5% Pref
100
300 Engineers Public Serv....—1
79
*70
734 Feb 21
85
42% July 13
580
12%
74
No par
Battery.-No par
X Elk Horn Coal Corp-No par
6% part preferred
50
Endicott-Johnson Corp
60
200
1,10% 110%
13
preferred
Elec Storage
i
1784 July 14
6% Jan
32>4 Jan
29% Jan
No par
56
600
preferred
Highest
Lowest
Highest
5 per share
5% July 28
—
57
2,100
?8
shares.
Electric Power & Light.No par
1,500
13%
6l4
Elec A Mus Ind Am
18,800
74
*12%
'
Par
7,300
14%
*13
133s
Lowest
72
214
Range for Previous
Year 1935
Lots
5 ver share
Week
Shares
71
110
13
1314
5%
15%
7584
On Basis of 100share
STOCK
EXCHANGE
the
46%
*84
*134
60i8
110
*13
53s
15%
7584
214
60
110
112
*110
112
15
5%
15i2
76
70%
4614
34
5%
53s
15%
53s
5%
15i8
538
5%
5%
15
Wednesday
Tuesday
Monday
Range Since Jan. 1
STOCKS
Sales
SHARE, NOT PER CENT
SALE PRICES—PER
HIGH
AND
Saturday
1936
22,
Aug.
June 10
May 19
June 22
30% Jan
12
Jan
3
3
Jan 20
104% Feb 17
4% Apr 30
3% Feb
34%July
37
Aug
3
4
117g Aug 20
21% Feb 4
119
Feb
8
105% Mar 18
41% Apr
1
Apr 23
16% Mar 25
126
115
9
Jan
9
Mar
5
Feb
74%
2»4
43%
11%
34%
vit»y
LMO
Nov
May
May
Deo
Deo
33% Nov
108
Deo
21%
Jan
3084
Deo
30
Jan
35
Dee
4
Mar
8
6% Apr
Oct
14% Nov
Jan
112
Deo
100% Sept
105
Nov
63
16
Mar
30%
121
Deo
Deo
9984
Jan
5%
Feb
14%
Deo
Feb
113%
Deo
1% Mar
6%
Oct
81
Volume
LOW
AND
143
New York Stock Record—Continued—Page 6
HIGH
SALE
PRICES—PER
SHARE,
Sales
CENT
NOT PER
STOCKS
NEW
for
Saturday
Aug. 15
Monday
Aug. 17
Aug. 18
Aug. 19
$ per share
$ per share
108
*105
Tuesday
$ per share
$ per share
*105% 107
Wednesday
*126
137
*126
137
164
*162
164'
*162
29
the
Aug. 21
Aug. 20
*111%
*126%
*61%
108
39
116
21
3558
*114
*420
450
32
53%
*155
164
*61%
Hazel-Atlas Glass Co
ft,
50%
3%
3%
*420
40%
28%
26%
40%
28
76
76
*62%
65
8%
8:
"¥,666
49%
50
3,900
*76
76%
68
*61%
68
9
884
9
50
50%
50
*3%
11%
16%
2%
24%
50%
3%
3%
11%
9%
*3%
51
109
109
11%
6
5%
1334
*3%
10%
14%
3%
1034
3
11
10%
11
168
172
53
*154
3%
3%
5
17~406
300
Insuranshar^s Ctfs Inc
1
t Interboro Rap Tr v t O..100
Intercont'l Rubber._..No par
*23%
24%
400
165% 165%
543s
52%
10,100
78
79
78
*154
155
154
78%
155
3%
4%
3%
3%
*4%
52%
5
3%
3%
793s
12,100
*14938 154%
7878
154
*3%
*434
527g
1,600
200
33s
2,400
75
33s
5
5
434
4%
53%
52%
53%
52%
53%
53%
5234
53%
51%
12934 *127
12934 *127
12934 *127
12934
12934 *127
12934 *127
6
6
6
6
534
534
*534
5%
5%
534
5%
284
3
3
234
*234
3
*3
3
3
3
3%
*2%
2
2
2
*2
2%
2
2
2
2
2
2%
1%
38
39%
39%
3734 39%
39
3934
40
40%
3934
39%
37%
*39
38
39
3934
*38%
383g
38
38% 38% *38%
38%
3878
52%
*127
800
31,800
*6%
*534
*43%
*27%
110
■
*110
7%
111
*6%
7
1234
23%
4434
28%
48%
16%
62%
12%
23%
*97%
*19%
98
20%
*19%
61
25
25
*123
87%
11534 11534
9534
42%
*119
25%
*124
*93%
20%
20%
*98
*4%
34
2034
100
100
23
24%
27%
z26%
*93%
22%
94%
22%
2034
27
34
34
26%
*4%
26%
33
4%
33%
434
28
2734
28
2734
27%
2734
103% 103% *10234 103% *10234 103%
*5%
6%
*534
634
*534
684
*85
110
*70
*85
110
*85
70
74
20
74
20
20%
*27%
45%
17%
*12%
45%
17%
13%
12%
28
13
27
3
12%
106%
1534
57
67
j934
26%
*105% 107% *105
107% *106
107
107% 107
107% *106
*165% 169
*165% 169
*16534
*19%
20% *20
20%
2038
33
32
32
45
4534
112
14^
3
13
12%
106% *105% 106%
15%
1534
1534
57
57% *56
67%
66%
68%
934
9%
9%
26
26
25%
27%
111
13
3
29'
*12%
111% 113
14%
14%
4534
*31%
40
453s
20%
*27%
14%
3
♦
111
14%
*85
*71%
20%
*27%
20%
28
101
97%
880
40%
500
10
21%
~23
43
24
25%
*93%
21%
*19
-
-
-
*85
73%
100
20%
9,600
101
40
32,800
2,000
200
230
230
7,900
20
2734
25
400
44
17%
17%
13
*12%
13
13
12%
2784
'28
:,600
27%
44
28
111
15%
111
20%
1238
2634
112
1434
20%
*11%
1278
110
15%
3%
1384
105%
1534
56%
67%
1334
2%
11%
104
15%
5434
978
64%
9%
26%
25%
110
20
,400
12% d 200
12% ft 700
27% JL61,000
111
14%
2%
12%
104%
15%
56%
67
934
26
580
'161,300
*5>,300
*5 ,100
800
1182
---
-----
101
103
800
103
106
'2,200
168
168
M
20%
!
300
500
—
-
i 1,500
1,100
500
80
320
3,400
1
500
5,200
400
"¥,806
5,200
400
1,100
400
1,160
23% Jan 30
6734 July 27
19% Feb 17
2
Apr 29
24% Aug 13
101% July 15
2284 Apr 2
2984 Feb 19
123
Feb 24
126% Feb 24
Jones & Laugh Steel pref.. 100
Kalamazoo Stove Co
10
Kan City P & L pf ser B No par
75%May 27
39% July 15
116% June 29
121
Kansas City Southern.
100
13
100
Preferred
87% Aug 14
129
Kayser (J) & Co.
25
July 31
6
80
Kelsey Hayes Wheel
20
May 20
18
June
4
1434 Jan
2
cl A1
Class B
1
Kelvlnator Corp
No par
Kendall Co pt pf ser A. No par
Kennecott Copper
No par
Keystone Steel & W Co No
Kimberly-Clark
Kinney Co
87
7
Feb 28
28% Jan
1734June
18% Jan
7
4
7
3% May 11
par
No par
No par
Preferred
Jan
30
No par
Stores...No par
Apr 28
20% Apr 28
IOI84 July 1
4% Apr 29
100
74% Feb 26
Kresge (3 8) Co
10
7% preferred
....
.....
100
Kress (S H) & Co......No par
66
Kroger Groc & Bak
1938June 30
No par
Lacelde Gas Lt Co St Louis 100
5% preferred
32
No par
No par
Lee Rubber & Tire
4% conv preferred
Lehigh Valley RR
Lehigh Valley Coal
25
100
50
2
No par
Preferred
50
Corp (The)...No
Corp
Lehn & Fink Prod
par
12
Jan
2
4
47% Jan
2
7
25
97
Liggett & Myers Tobacco—25
May 19
May
7
Marl6
25
Lily Tulip Cup Corp...No
9734 Mar 13
100
Preferre J
il60%June 9
19
Apr 29
par
Lima Locomot Works—No par
Link Belt Co
6
38% May
5
5
Series B
July
9% Apr 29
89 May 11
No par
Llbbey Owens Ford Gl. No par
Life Savers Corp
June 10
15% July 29
7% Jan 2
12
July 15
15% Apr 30
94% Apr 30
8% Jan 2
5
Lehigh Portland Cement
Lehman
20% Apr 27
100
i
Lambert Co (The)
Lane Bryant
Mar 16
.....No par
Apr
Apr
24% Jan
2
25% Mar 20
Aug
3
28% Aug 6
110% Feb 10
7% preferred
100
t Louisiana Oil pref—.—100
May 19
21% Apr 28
142
Jan
7
28
Dec
78
Oct
Mar
14
Deo
May
June
Mar
Oct
Jan
16% Sept
90
Aug
16
Nov
36
Jan
110
Jan
120% Apr
49
Mar
37
Aug
99% Nov
126% Deo
38% Mar
117% Mar
50
Apr
384 Mar
7%
1534
93
Nov
120% Deo
14% Deo
22
Dec
Feb
20% Nov
Jan
30
34
Mar
6
Jan
Oct
3% Mar
10% Aug
90% Oot
31% Nov
28% Nov
18% Jan
84
96
Mar
July
2%
Mar
Oct
Mar
1984 Mar
103% Apr
6%
41
Nov
Dec
Deo
2734 Nov
113
Apr
Jan
80
Oct
56% Apr
22% May
80
Nov
77% Jan
3
28
8
Jan
33% Jan 31
50% July 13
2634 Feb
6
13% Aug 15
16% Mar 17
28
Aug 14
113
12
Mar
19% Mar
21% Oct
5
May
8% Mar
10% Mar
6% Nov
32% Aug
27% Deo
46
Aug
28%
Jan
9
Jan
14% Dec
17% Jan
Aug 17
15% Aug 12
4
Feb
6
16% Feb
6
109% July 28
1634 July 15
60% Aug 3
70% Aug 10
11% Jan 6
31% Jan 29
115
Jan 16
116% Jan 15
169
Aug 19
23% Feb 5
39% Feb 21
8% Mar 24
40% Mar 13
July
May
2
107
Jan
16
56%
5%
8%
70%
6%
24%
Dec
2
3% Jan
10
Jan
5
42
104% Feb 28
2
Apr 23
25
Dec
4%
3
No par
100
Deo
Dec
July 13
6% Mar
90
No par
Loriliard (P) Co
Deo
Dec
21
Long Bell Lumber A
Loose-Wiles Biscuit
110
Deo
10
8
Loft Inc
.No par
5
3%
2%
28%
4234
23
Jan
44% Apr 6
5834 Aug 13
108% July 17
3% Feb 11
Preferred
Deo
434 Aug
6% Oct
47% Dec
130% Nov
29% Apr 24
7% Jan 8
50% Feb 19
43
36% Nov
65% Nov
154
30% Dec
3
Apr 21
No par
4234 Jan
190% Deo
22%June 22
3
Loew's Inc
Jan
Jan
1334 Mar
48% Aug 15
2
July
32%June
5
43
,
36
No par
3
42% Mar
25
6% Mar
101
Oct
20% Deo
36% May
49% Nov
U5% Mar
25% Jan
.
Liquid Carbonic
Oct
6
2
26
Jan 27
conv
4% Mar
21% Jan
98% Jan
48% Aug 8
24% Aug 11
33% Feb 25
94% July 23
28% Jan 2
Jan
17
Feb 21
97% Aug 21
43% July 30
19% Jan
Kaufmann Dept Stores $12.50
45
Jan 17
112% April
26% Jan 27
151
Jan 30
5
Mar
11%
Jan
lis Mar
5% May
67% Mar
10% Oct
3% Aug
I534 Nov
9534 Nov
17% Jan
21% Mar
6% Sept
49% Oct
10% Nov
29% Nov
120
Aug
122
Aug
167% May
2884 Nov
21
Mar
94% Apr
9384 Apr
151% Jan
15% Oct
13%
17%
24%
31%
Mar
Mar
Mar
Feb
102
Feb
1
Mar
1% Mar
33
Apr
10734 Nov
27% Nov
43
Oct
37% Deo
55% Nov
10884 Oct
2% Oct
4%
Deo
41% July
112
Deo
18% Mar
26% Nov
Apr il49% Dec
124
13
Jan
3
4% June
15
Deo
Louisville Gas & El A..No par
20
May
4
30
Aug
10% Mar
23
Aug
Louisville & Nashville
57% Jan
22% July
2
8
93
July 22
34
Mar
64
Dec
35
Feb 19
Sept
42
Jan 21
1284 Mar
37% Nov
26
May 14
46
Feb
100
Ludlum Steel
MacAndrews & Forbes
6% preferred
-
Feb 10
July 31
58% Jan 18
88 May
I2IS4 Feb 5
5% preferred
2% 400
Mar 26
100
Llbby McNeill & Llbby No par
A,l.,500
105
—
2
Jan
113
No par
Preferred
48, 200
*5,,600
33
31%
31%
*31% 32%
2934
31%
44
4534
43%
44%
44%
43%
44%
2,200
41
41%
41%
40
40%
41%
40% #7,200
56%
55%
56%
55%
557S
53%
55% £16,000
*107
108
108
*107
108
*107
108
2
2%
2%
2
2
2%
2%
"""966
•
Jan
15
No par
Johns-Manvllle
Aug
46% July 31
29% July 21
53% Feb 21
8
24% Aug 14
I
Jewel Tea Inc
June
82
100
No par
1
Leruer Stores Corp
169
*20%
Preferred
Intertype Corp
Island Creek Coal
41.,800
fti;,200
IO684
2034
No par
Preferred
71%
2034
17%
*
No par
Interstate Dept Stores.No par
Kresge Dept
£110
71%
20%
19% Jan 9
23
Apr 28
47% Jan 2
15
Apr 29
Keith-Albee-Orpheum pf__100
"¥400
20
19%
800
1,300
22
45
17%
3
3%
12%
1334
1278
106% *105% 107
10478
1534
1584
.15%
15%
57
57
56
5634
6734
67
6684
6734
10
9%
934
9%
26%
26%
26%
26%
106
106
106%
*104%
107
107
107
106%
169
169
169
169
-
For footnotes see page
3,000
V
26%
943s
40
40%
4034
40%
55
5634
5634
5534
*107% 108% *107% 108
*107%
2
*2
2%
2%
2%
5
5
4%
5
5
*434
478
478
4%
4%
4%
4%
*4134
42% *4134
42
*4134 42%
42
42%
4134
*41%
41% 41%
*111% 114
*112
114
*111% 114
*112
114
*111% 114
*112
114
22% 22%
22%
2234
22%
22%
22%
22%
22%
22%
21%
22%
145
*143
*143
145
14434 14434
14434 14434 *143
14434
14434 14434
*32% 33% *31% 33%
32
3134 32
32
31%
31
31%
31%
28
28
29
28%
29
29%
29%
29
29% 29%
28
29%
89
*87
*87
88
88
88
88% 88%
88
88
87
87
27
27
27%
27%
27
27%
27%
28
27%
27%
26%
27%
36
36
36
*35%
35%
35%
*35% 36
35%
35%
35% 36
*130
*130%
*130%
*130%
*130%
*130%
36
36%
36%
36
36
3534
3634
36%
36%
3634
35% 36%
48
48%
49%
47%
49%
48%
47%
4878
4734
46
48%
47%
12
12
*11%
*11%
*11%
1134
11%
11%
11%
11%
*10%
11%
46
46
4634
4634
*45%
46%
46
46%
46%
45%
46
44%
*2
*1%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2%
*12
13%
13%
14%
1334
14%
1478
13%
13%
13
14%
13%
56%
3,700
46%
24
20%
3
20%
96
*119
*100
110
12%
20%
20
~17%
46
17%
*12%
*1234
27%
400
3,100
44
45%
46%
45%
21
20
20%
19%
*26%
287S
26%
26%
4%
4%
4%
4%
32
*3234
33%
32%
28
2778
26% 273s
*10234 103% *10234 103%
*534
6%
*534
6%
110
70
7034
20%
—
20%
2034
20%
*100
88
126
*40%
—
23%
46%
24%
26%
94%
22%
*20
21
100
100
1,100
113% 117
*8534
97%
46
24%
70
20
253s
100
Preferred
*124
42
—
22%
45%
*26%
*4%
34
27
4434
22
21
20%
4%
34
12%
27%
*32
*20
96
*40%
*119
21
13%
9%
97
47%
13%
2534
22%
20%
22
22%
45%
*24%
27%
*93%
88
*85%
4284
4634
13%
12%
15%
22%
4434
24%
26%
943s
*93%
28%
49%
17%
13%
12%
67%
96
21
17%
*57%
126
47%
*27%
*105%
11834
126
21
*45
13
118
126
47%
17%
3
118
21
29
14%
89
"117
*40
25%
*124
*124
*119
97
97
*18%
126
27%
*26%
*4%
97%
20
*124
48
48
115
*124
21%
*27%
3
25%
116
.
*98
*45
14%
97%
*18%
25%
*85
*20
100
*1738
♦111
23%
85
22%
44%
24%
26%
27%
94%
22%
20%
2034
*21%
34
27
23%
12% Apr 30
10% Apr 30
96
21
20%
No par
42
21%
27%
4%
72%
20%
33,600
42
48%
110
12%
95
21
*70
50
13%
*119
47%
*85
100
T__100
1278
7% preferred
Inter Telep & Teleg
42
47
28%
103%
*534
634
International Silver
120
120
44%
24%
28
100
42
2234
*103
300
1834
63%
120
44%
*26%
*48%
*16%
*58%
48%
19
....
85
22%
20%
48%
19%
% May
I84 Oct
9% May
63%
98
s8 July
2
*16%
25%
Maris
7
*58%
20
Mar
8%June 26
48%
18%
63%
25%
97%
*19%
25%
Jan
July
3% Feb 10
111
49
7,800
June
7
International Salt
International Shoe
23
Mar
9
Jan
100
12%
21%
7% Feb
Apr 27
28
*48%
Feb 21
Jan
3
*27
Preferred
34% Mar
384 Jan
28
41%
June
1%
1%
22%
123%
1%
107
100
*27
97%
19%
25%
*24%
26%
Preferred
Internat Rys of Cent Am..100
Certificates
No par
26
8
44
Nov
Nov
8%
13% Dec
135
May 22
121
108
1% May
4% Mar
258 July
3
45
5% Dec
36% Oct
Feb 14
Mar 4
Apr
4
Dec
7% Deo
149% Jan
22% Mar
37
Int Printing Ink Corp..No par
4
Oct
Jan
Dec
23% Sept
Mar 23
9
20% Apr 30
100
Deo
4% Mar
2% Mar
23% May
60% Mar
46% Mar
2% Feb
•
Mar
Mar 11
8
6
28%
22%
2434
Preferred
Dec
16
Apr
Mar
Jan
Deo
884 Mar
54% Feb 19
129% Mar
1% Jan
4234
2234
97%
45%
2% Jan
No par
.....
Mar
Mar
5% Jan
4% Jan 2
43% May 8
125% Feb 6
334 Apr 30
*42%
2234
22%
234 Apr 30
Class C.i
6%
6%
84
9%
5%
13«4
17%
3%
22%
38%
59%
160
8
Int Hydro-El Sys cl A
25
Int Mercantile Marine.No par
Int Nickel of Canada..No par
Inter Pap & Pow cl A. .No par
Class B......
..No par
60% Dec
Feb
185% April
5634 Aug 8
90%June 12
148% Jan 23
27%
*124
100
90
56% Jan
100
42
13%
23%
22%
20%
42%
2234 July 10
Apr 28
35% Jan 2
160
100
Jan
2»4
Jan 11
41
1
42
13
95%
100
Int Business Machines.No par
International Cement ..No par
Internat Harvester
No par
Feb 14
18%
5%
1534
5%
2% July 10
*27
13%
116
9% July
No par
4234
13
45%
*24%
27
*98
20
*58%
126
94%
21%
10
6
*48%
*16%
116
20
6%
534
19
95
*93%
21%
6%
7
61
115
*19%
7%
*6
61
*124
27
*6%
7
*16%
87
130
110% 110%
734
*48%
87
111
600
*534
16%
13
111
2,400
23,700
*6%
63%
13%
23%
9734
20%
25%
16%
96
42%
111
500
7
27%
126
120
*110
"¥,366
734
28%
48%
*124
87%
*124
43%
*61
'
111
*6%
*534
4234
7
22%
*97%
48%
*16%
111
7%
*534
43%
*27%
48%
No par
Internat Agrlcul
Prior preferred
Preferred.
6
147
5%June 10
11% Apr 30
2% Jan 2
Interlake Iron
Preferred
Nov
43
Apr
1,700
600
Nov
7
Mar
5%
400
73
15
1334 Apr 13
7% Jan 18
7,600
Jan
1% Mar
40
114% Feb 20
July
49
Feb 18
13% Apr 17
34% Apr
Deo
42
31% Deo
Aug 12
7
3%
27%
172
173% 173% *168
53%
54%
55%
54%
10
Jan
495
Feb
70
18% Feb 24
11
30% Mar
6% Mar
52
6
3
338
5
6% Jan
10%
223s Deo
6
88% July
3
6% Mar
19% Dec
Jan
May 12
4% Jan 2
25%May 21
106 May 12
No par
July
3084 Deo
June
No par
10%
54
Indian Refining
Industrial Rayon
118
Jan
Jan
584 Mar
3% Feb 19
28% Feb 19
No par
*3%
173
18% Apr 30
Inland Steel
3%
26
100
1334
10%
104
17% Feb
1934 Mar
2
Jan
4
Ingersoll Rand
11
25%
1
8
Feb
Mar
Inspiration Cons Copper._.20
*3%
1034
*24
16
5
Feb
8134
Aug 15
10,600
11
5%
25%
No par
Deo
"¥666
109% 10934
3%
100
Motor Car
Oct
131
36% Dec
73% Apr
5% Jan 23
3%June 10
8% Apr 27
13%May 4
11
*130
3
4834 Jan 21
58
1334
3%
son
90
Feb
76
July 20
70% July 25
12% Jan 15
57% Feb 19
7
30
57s
11%
3%
Hu
Mar
33
4
6% Jan
100
1334
*3%
5434June
5
71
122
Jan 13
44% Feb 20
65% Jan 14
100
June
Jan
544
2
No par
Hudson & Manhattan
Preferred
June
162
11
22% Aug 12
3734 Aug
1
114% Aug 21
July
t c new 25
100
10%
Jan
22% July
v
141
Jan
2
44% Feb 19
39% June
100
1334
*3
414
Jan
142%
116
Feb 17
cl A No par
85
127
1
119
June 13
.........No par
Household Fin partlc pf
50
Class B
6% pref series A...
*5%
11
9
6
Jan 27
Aug
80
19% Jan 13
108
Leased lines
32
11%
Hollander & Sons (A)..
5
Holly Sugar Corp
No par
7% pref
ioo
Homestake Mining
,_100
RR Sec ctfs series A
*934
112%
108
Mar
Highest
share $ per share
Jan
120
Dec
per
115% July 15
135
Apr 17
Jan 23
30% Jan
...No par
110
29%
11
No par
$5 conv pref
450
10%
110
No par
Holland Furnace
$
3534 Jan
Aug 13
61% Aug
108
Aug 12
17%
3278
133
141
164
126
cum
Conv preferred
68
17
14
33g
7734
5
17%
84
100
No par
$7
Hupp Motor Car Corp
Illinois Central
47%
*66
66
No par
preferre 1
Herehey Chocolate
1,100
26
$ per share
150% July
25% Apr 30
No par
27,000
2%
24%
47%
50
7,600
7,700
14
3%
155
3%
5%
2
2%
26%
400
12
16%
5%
5334
156%
1534
Hercules Motors..
Hercules Po der
Houston Oil of Tex
owe Sound Co
600
CO
172
54%
80%
7734
*10%
1634
ioo
Class A
11%
578
*24
25%
171
5334
80%
156%
114
12
100
.
3%
3%
3%
28,100
11%
*5%
*3
3
*24
110
1134
5%
14%
3%
11%
5%
13%
3%
3
2584
3%
109% 109%
12
♦
25
Preferred
""560 Houdaille-Hershey
4034
28
*60%
51
440
*420
440
4034
29
76%
9%
*3%
11%
*5
110
10
Lowest
Highest
$ per share
102
Aug 10
117 May 14
25
Helme(GW)
164
*162
4034
*76
76%
67%
9
9%
51%
440
4034
28%
*10%
11%
11%
*10
11%
16
16%
16
16%
163s
16%
16%
2%
2%
2%
2%
2%
2%
2%
24%
24% 2434
24%
24%
25
26%
50
50
51%
49%
49%
50
50%
*66
6734
*65%
6734
66
66
6734
66
16%
16%
16%
16%
163s
1634
1634
1678
*9
*9
10%
10%
*9
10%
10%
*934
32%
31%
32
3234
32%
32
3338
33%
137
*129
137% *129
134% *130
134% *130
3
80
68
9
3%
11%
II84
*5%
14%
*3%
1034
168
*76
*417
4034
29%
28%
50%
*109% 111
*24
440
*40%
78
*61%
9%
51%
338
*125
*76
*420
40*%
29%
28%
68
9
*1634
*8%
440
*40%
78
*61%
51%
*65%
*420
40%
28%
*5034
2%
24%
*162
•
*76
16
Lowest
2984
2934
*29%
2934
28% 28%
27%
28
A 1.900
27%
28
114
*111% 113
113
111% 111%
114%
11334 11334 *1,100
114% 114%
131
*126% 131
*126% 131
*126% 131
*126% 131
*126% 131
63
*61%
63
*61%
64
64
63%
63%
64%
*61%
66% """306
108
109
109
109
109
800
109
109
109
109
10834 109
39
*38% 39
38% 38%
38
1,200
38% 39
38%
38%
38%
116
115
115
115
115
70
*112% 115
*112% 114% *112% 114%
21%
20% 21%
20%
21%
10,400
21%
19%
20%
2134
20%
2138
35%
*35% 35%
35%
36
35
4,100
36%
36% 36%
36%
3634
115
*114
115
*114.
115
*114
20
115
*114
115
114
114%
40%
2784
*10
162
Range for Previous
Year 1935
On Basis of 100-share Lots
Par
136% *12534 136% *12534 136%
162
Range Since Jan. 1
STOCK
EXCHANGE
Shares
29
164
YORK
Week
$ per share
$ per share
106%
106% *105
106% *105
*105% 106% *105
*126
136% *126
*162
Friday
Thursday
1187
10
100
Mack Trucks Inc
No par
Macy (R H) Co Ino
No par
Madison Sq Gar v t 0..No par
Magma Copper
X Manatl Sugar..'
Preferred
10
35
127% Jan
9
27% Jan 30
40% Apr 30
8% Jan
100
34% Jan
1% Jan
100
7% Jan
6
51%May 25
130% Mar 16
38% Aug 10
49% Aug 13
14% Apr 18
49
July 21
3% Feb
17% Feb
113
Feb
18% June
30% Apr
5% Jan
18% Jan
% Feb
4
Jan
130
May
3084 Deo
57% Nov
11% Deo
3734 Deo
2% May
10
May
Saturday
Monday
Tuesday
Aug. 17
Aug. 18
Aug. 19
the
Week
■
*10
1034
*3212
40
*3212
*1634
17»4
.'1614
*1784
19
*18
1934
*22i2
*2io
*112
*658
9
*6i2
23i2
3i8
47i2
15i8
9
3434
*22i2
*2i2
47i2
15'8
*814
3434
*3312
31o
33g
*n2
178
15g
1178
112
.
*3312
16
17
338
*18l4
*18
12
19l2
338
*1778
1178
11
314
3,100
*65s
834
*658
12
158
834
22l2
2212
3i8
23l2
*23g
2312
3i8
*612
2312
*23g
23l2
46
46
461
46
47
15
1434
147g
1438
1478
834
35U
834
834
8i2
834
4,100
1,100
3434
3512
3358
3434
Mandel Bros
5,100
*212
*44
47
*44
1458
*819
•,' 834
834
3458
35U
1458
15
834
3514
,
3458
S34
35
1^2
158
*fi&«
!
23i2
*238
318
preferred
Marlln-Rockwell.
No
Marshall Field & Co ...No
Martin-Parry Corp..No
Mathleson Alkali Wks. -Wo
2d
3is
~Y,2o6
*160
...
5514
56
5614
5638
5684
56s4
5678
55
57
6,900
May Department
16
*151o
16
*1558
157g
1578
1634
165g
1634
16i8
1,900
Maytag Co
465s
465s
*46l2
47
*46l2
47
*4612
47
47
47
*46i2
16i8
4714
50
*45
50
*45
50
*45
50
*45
50
*45
50
*48
*160
-
56I4
5538
*160
-
—
200
32
I6I4
16
16i2
10012
*98
I6I4
*98
10914
""240
33
3378
5,100
McCall Corp
1534
1638
7,800
JMcCrory Stores Corp
*98i4 10012
2012
1978
"Y.500
*1834
1918
1834
4134
4134
4184
14
1414
1378
1414
94l2
IOI4
978
IOI4
9%
IOI4
18,200
44i8
4438
143g
4334
1334
44i8
2,000
$3 conv pref
5,900
McLellan Stores
14
141)5
94
*
105
14
143g
*14
*108
*77
85
*69
14
10
IOI4
978
2258
2238
22%
42
*122
125
123
104
104
*104
"7 "2
712
*2
38
15s
*ll2
312
*2%
312
314
20
20%
2034
>9
9i2
314
2034
9%
29),
*5i2
.
*2114
99
100
_4558
4578
*45
4612
*45
*65i2
6634
*65%
1
395s
203s
2038
Minn St Paul & SS
31
*258
3i2
*258
312
*2&g
?
3
*3
358
*3
314
50
16i8
*12i8
1,900
2H8
2078
21
20i8
578
20l2
99
98
98
98
98
4458
4512
5078
65
~4538
*64i8
1,600
Monsahto Chem
Co...
31,400
64i2
64
65
100
Mills.—-.20
4434
50%
4312
*45
50
*45
2,300
Mohawk Carpet
270
1
Us
5,700
Mother Lode Coalition. No par
3834
6,800
Motor Products
20ig
4,900
Motor
18
2,200
Mulllns Mfg Co
8712
*8614
8734
3084
*29
30i2
-
-
-
51
*50
1514
1514
1558
1514
2834
28
28
1638
I6I4
16l2
16%
123s
1934
51
*10338
1834
...
1912
35,900
500
50
4978
-
8,100
1538
15i2
15U
1512
29
2712
28
163)5
16l2
16
I6I4
3,300
13
13
12
1284
800
1284
310
9,900
6612
6534
63i2
65
6478
119
121
*118
*1034
8I4
1034
8i8
8i8
2912
28l2
2914
18,300
11
1034
*51]8
41
34i2
34l2
76
*3i2
7712
4U
*1114
1178
*1
► 12
65i4
64l2
647g
6634
122
*123
8
1078
11
*48i8
50
*5512
*107
5714
112
*2658
1538
3378
15's
3378
67l2
125
8
1538
'
1034
4818
*55l2
*107 '
*26
8i8
1%
%
*12
64
6234
'
8
57l2
*1
Dg
h
1178
1H2
12
%
66i2
62
66I4
123l2 12312
""366
3,400
9,600
1,100
5584
600
3378
153s
20,700
1,000
50
5H8
5012
52
51
41
40l2
4178
40h
4184
39
405s
34
34
3434
3514
35
35i8
34
35
1,700
74
76i8
7634
7634
74i2
7712
1,600
414
*312
414
43g
438
1234
3i2
79
414
338
1214
*1034
1214
*1134
1214
1214
1234
1214
1214
*1114
*130i8 136
*130l8 136
*132i8 136
136
*132l8 136
*132
*132i8 136
Us
1
H8
1
n4
n4
1U
Hs
1'8
1%
Hs
1*4
97
*94
95
95
*95
97
*95
98
*95
9734
*95
97h
314
314
3U
318
338
3U
314
3i2
3U
33s
338
33),
8h
fi85g
*8U
9
8i2
8»8
4l2
*438
8i2
4l2
85s
478
8%
*4;%
8I4
*43),
*414
4i2
*4
*3i2
378
3i2
312
*312
35g
3l2
3i2
*338 % 358
f%4i2
83g
4»4
358
83g
*4
.
*338
61,500
.
160
20
10
2,300
700
12
1178
1212
12l2
1314
12U
1278
12
12%
12
12
12,000
70
73
74i2
76
8OI4
79
79
79
79
82
82
440
*9818
99
*98i8
99
98i8
10912 *108
*108
•
D2
*1
285
285
110
110
D2
285
110
*110
3314
321),
32~34
56i2
*561o
*100
..
261g
*50i2
*2i2
267s
52i2
25g
25i2
*20
*100
105
..
56i2
3278
56i2
8I4
83g
*100
105
*100
26i4
50l2
5012
23g
2512
50
50
12i2
1214
1212
403.1
41
99
*983g
99
25%
*50
285
2612
27o
110l2 110l2 *110l2
31
3278
32i8
*56
5634
5634
83g
8I4
10514 *100
..
285
*100
25%
105
8%
*100
275
...
26l2
52
*50
52
2i2
25i2
214
*20i4
2l4
25i2
*100
2478
*50
52
12i2
1234
1212
12%
12i4
41
391?
40
38ii
395«
2i8
*20U
32«4 Apr
41
Apr
10412 Apr
10U Feb
9
3212 Jan
New York Central
9
Sept
Sept
6
377g Apr 14
313sMay 26
Mar 17
No par
20
600
2.500
5
147g Feb 17
Feb 11
H* Feb 11
Jan
2
69i2 Aug 10
124
Aug 8
117S Jan 17
13% Jan 24
5134 Aug 10
li2 Mar
23i8 May
21
May
Jan
32i2 July
Jan
162% May
1215s
Jan
140i2 July
478 Mar
i2 July
14 Mar
143$ Aug
403s Mar
83»4 Nov
9
Mar
2078 Aug
36
Mar
77% Aug
li2 Nov
84 Nov
*8U Mar
115s
7i2 Jan
21U June
Jan
41»4
43i2
Jan
Apr 14
1578 Aug 7
358
July
55
45g
34i2 Nov
150
59U Jan 3
108
July 15
43
Dec
Dec
Dec
113U Nov
108
Aug
23i2
43s Mar
Deo
Oct
6II4 Deo
1318
"ii%
Dec
1078
Dec
Aug
8
1812 Mar
36i2 Nov
8
12U Mar
2734 Jan
43i2 Aug
2984
Dec
1734 Jan
37U Aug 13
6
Mar
19
Dec
100
36i2 Jan
81% Aug 13
6i2Mar 4
97s Mar
39
Dec
Preferred series A...
100
New York Dock
Preferred
100
-.50
{NY Investors Inc.—No par
100
N Y Lacka & Western
119
1'
90
N Y Railways pref
N Y 8hipbldg Corp
partstk—1
1678
112
Mar
Jan 10
Apr 24
98
55s Feb
6
14 May
96
Nov
25s
Oct
912 Apr 27
May 21
558
July
9
7
5i2 Feb 24
14 May
1558Marl3
82
Aug 21
100
July 22
6is Mar
51
Oct
69
June
109U Aug 12
79
May
100
57
No par
83
No par
Mar 17
93i2 Apr 23
H4 Apr 21
100
105
i8 Mar
84 Aug
27a Jan 14
139
1U
99
8i2
Dec
Dec
June
Dec
May
Jan
165s Aug
6i2 Nov
384
Dec
218 Nov
1618
Jan
87
Jan
92i2 July
Dec
2i2 Dec
10218
July 14
158
Mar
218
Dec
May 12
IIH4 Aug 12
99
Jan
108
June
2318 Apr 30
35i2 July 27
9
Mar
.28
Nov
50
5234 Feb
6
59
1
Adjust 4% pref
North American Co
Mar
212 Jan
4
210
65s Jan
6
1034 Mar 19
2
Mar
2
106i2 July 21
57
Jan
414 Jan 17
121* Feb 21
102
Aug 5
3U Nov
86i2 Mar
13% Mar
99
25U
Dec
3578
Jan
52i2
Deo
1% July
2U
Mar
32i2
9U Mar
14U
Jan
Jan
Dec
27%
Dec
No par
...
North Amer Aviation
98
Jan
Jan
50
9712 Apr
100
Central
Pacific
237gJuly
50
50
Norwalk Tire & Rub..No par
2
Northwestern Telegraph
50
No par
Eo
4
4
5
Mar
6I4
Oct
25s Mar
100
Farm
214 Feb
Mar
14i2 Feb 7
7i2 Feb 24
53s Feb 24
100
Oliver
2
7»8 Apr 28
Norfolk & Western
Ohio Oil Co
Jan
2
x2% Jan 17
preferred
Northern
6
3
No par
N Y Steam 56 pref
Preferred
Jan
17% Feb 17
139
June 27
100
Conv preferred
7%
3is July
lOUMay 16
100
JNYNH&Hartford
Preferred.,
"18,466
2
6
10
18
29
15
7
4
30
8
Mar
Dec
Nov
t22%
108
333s Mar
14U
"363s
1581s
*106
75
Deo
213s Nov
4712 Oct
19% Jan
27i2 Jan
14% Dec
127s Mar
4
1534 Aug 19
3
2612
22% Apr
14H2 Mar
13i2 Mar
June
112
8I84 Nov
N Y Chic & St Louis Co...100
No Amer Edison pref.-No par
22,200
Apr
No par
North
25%
Jan
N Y Air Brake
..
40ii
1182.
500
105
1234
*20i4
80
11,600
417«
*2i4
1
Newport Industries.
$7 1st preferred
18,800
123),
25g
25l2
No par
No German Lloyd Amer shs—
..
1978 Jan
X Norfolk Southern...
700
5634
8
*403i
-
70
32l4
2i4
25i2
1258
*214
*20l4
For footnotes see page
*100
*100
.
2534
42l2
123g
*109l2 110l2
32l4
2638
23g
285
57
2534
*20
285
3234
8£
8I4
105i8 *100
*100
110
32l8
56l2
8I4
8I4
QQ
109i2 *10812 10912 *108l2 109l2 *108% 109%
*1
H2
*1
*1
1'2
D2
H2
*114
28534 28534
57
3234
*56
*41
109i2 *108
*1
285
99
Newberry Co (J J)
Preferred stamped
1134
57U Apr 29
778 July
lOUJune
No par
8
i2 Jan 10
74i8
N Y Ontario & Western...100
""800
78 Jan
par
No par
Bros
N Y & Harlem
"Y, 900
70
*983g
-No
5% preferred series A... 100
f New Orl Tex & Mex... 100
112
June
100
Preferred
48i8
50
2
2638June 30
2d
Neisner
40U
312
4% pf.100
preferred
100
National Steel Corp
25
National Supply of Del..—.25
Nat Rys of Mex 1st
Natomas Co
14i8
Jan
2834
Mar
4i2 Mar
634 Feb
7
2
9%May 11
National POw & Lt
1,300
48i4
255s June 11
14
-
Apr
28% July
11234 Mar
No par
12,200
National Tea Co
1584
9
Jan
11
6
168
4,000
3378
3834 Jan
143
107s
*26
Jan
21
2
4712
*5512
3H8 Apr 30
30
"32 July 28
158
2,000
15U
78
10
484 Mar
6
17i2 Feb 19
13734 Jan 21
3412
99
155s Mar
»16 July 15
Sept
Dec
3
51% Aug 11
2178 Feb 19
100
10i2
*107
Aug 12
22»4Mar
30i2 Apr
Stamplng.No par
National Lead
10
47
57
2
100
52
*3i2
31«4 Dec
July 23
9i2 Apr 30
Nat Enam 4c
11
112
Jan
Aug
No par
7% pref class B
—100
t Nat Depart 8tores...No par
Nat Distil Prod..
No par
8
8
par
Apr 30
14
15
Preferred B
4H4
78
1584 Nov
Preferred A
3412
77
1538
10
52
*51%
'
7i8 Mar
9i2 Aug
200
143
143
148
4,500
40
52
403),
66
48
112
*143
121
1034
1034
48
48i2
48i4
48i2
*47i2
57
57
57
5712
*5512
*107
112
*107
*10534 112
*26
*26
3378
*26
3378
15
153s
1434
1514
1478
100
33
8i8
3
19i2 July 20
100
29i8
67l2
22i2Mar
Apr 30
7% pref class A
2978
121
15i8 Jan
11
80
293s
8
Hs May
33is Dec
No par
297)5
66
U Apr
178 Feb 10
41i2July 28
Nat Dairy Prod
2912
*29U
*119
Feb
65i2 May
31,300
"20", 900
8I4
66
Dec
Feb 11
153g
67i8
119
Dec
60
July 31
15
64i2
417a
71
30
1534
65i2
5984 Feb I
Feb 25
6
34 Jan 2
283g Apr 30
164
15U
6538
Deo
4
60*2 Jan
9
1534
66
40%
Jan
44
Apr 30
21
Apr 30
108i2 Jan 4
107i2 Jan 6
10
Apr 28
1478
*2878
30
30
30
33
i*2878 33%
*2878
31l2
*2878
28
28i4
283g
28
2818
28
28i2
28i4
28
2758
2778
2734
168l2
168l2 *155
168i2 *155
16812 *155
168l2 *155
1673), 16738 *155
66I4
Mar
153
153s
12
"2134
...100
1434
*
Feb
July 30
20i2May 4
121* Apr 30
Biscuit
National
943s Nov
55
May 29
43
—
Dec
Nov
23
3
103
1
Nat Aviation Corp
4i2
48
10
National Acme
Deo
Jan
3
7
No par
110
h
July
li2 Mar
1034 Mar
I6I4
l78May 19
7% cum pref
Nat Cash Register
200
8,300
110
%
1
6% Nov
3534 Jan
par
Nashv Chatt & St Louis.—100
Rights
110
%
Dec
100
1914
*109
*12
Dec
104
*50
July
4i2
3
...No
Inc..—No
No
5% preferred
Murray Corp of Amer
Myers F & E Bros..—-No
Nash Motors Co
No
4
1734
2% July
578 May
8
6
34 Nov
25g Dec
1U Mar
734 Feb 11
Mar
76s Nov
Nov
68
103s Apr
7
*2838 Apr
Mar
1021s July
29
138
Feb
1
66
16l2
*1
4
Feb
Feb 10
Feb 8
Apr 14
Feb 21
Aug 10
13U Mar
110
138
2«4
5U
6i2
26%
958
3278
62
110
*1
*
% Mar
84 Apr
77
*108
1134
188 July 14
Mar
32i4July 30
*109
*12
3g Jan
Oct
1161a
Jan *llli4 June
37s Mar
89i2 July 29
110
n2
31
1
110
*ll8
105
76i8 Mar 24
13a Feb 10
6i2 Jan
57U Jan 17
4
*109
1%
58
Dec
7
*108
12ig
150
Jan
110
*U4
Nov
Jan
May
*10338
12
85
58
10978 Mar 16
123s Mar 23
Apr 8
lOe^June19
14i2 Jan
Nov
Aug 10
98
*65
5i2 Jan
85
4478May
I5I0
1184
104U Aug 20
9
2i2 Aug
284 Jan
8U Mar
601s Mar
21
110
12
9i2 Mar
131i2Mar 30
Feb 21
70
110
12i8
2i2 Mar
33i2
6
47i2 Apr
par
*109
1178
12U Apr 13
2334 July 21
9
par
110
12
3
par
1934
150
425g
Jan
Preferred
10
29
*143
60a4
24*8
534 Jan
Mar
Oct
Dec
Dec
684 Oct
20i2 Dec
247g Sept
2084 Mar
22
Apr
5814 Aug 20
Murphy Co (G C)
110
150
65i4 Nov
8% Nov
Munsingwear
*109
*143
Dec
Jan
Mar
100
*108
150
97i2
41
7214 Aug 21
xl7U Apr 30
88
Jan
115% Dec
37»4 Apr
9
6
110
Dec
Deo
153s
3
405$ Jan
2158 Jan
IO84
40
Dec
1058 Mar
678May 22
30 May 13
Nov
1434
300
110
*143
55U Jan 31
Dec
1934
45is Sept
131
97i2 Dec
IO8S4 Apr 14
81
July 21
97i2 Jan 10
31% Jan
35% June
Dec
11
Mar 24
68
110
150
19
3034
110
*143
—
57s May
15U Mar 26
108
Apr 23
2
Jan
38i2 Dec
8i2 Apr
85i2 Mar
46
3
lli2 Apr 29
973s Jan 7
123s Jan
3384 Nov
90i2
II84 Feb 14
Feb 17
85s Apr 30
3734 Jan
714 Mar
Jan 31
493$ Jan 24
87i4
*109
2934
24
118i2 Jan
6
*65
•
2878
June 16
Aug
Mar
28
Aug 19
1714 Aug 7
July 21
*29
32
3134
32
32i2
3234
3214
3238
3234
3278
3238
325s
160
*150
160
*150
160
16H2 *150
16H2 *152
I6OI4 *150
24
23i2
24
2434
24
24U
2434
2434
24
2358
24i8
2334
27
2712
277g
26
27U
26
2712
26l8
2534
26
2534
263s
2918
34
100
June 19
*8614
32l2
2878
110i2June
9
87l4
160
15
2
Feb 24
30%
5134
1234
12i2
Oct
*2914
1638
i
Corp ..No par
5
class B
1
Oct
54
June
*86U
1514
1612
Wheel
5734 Nov
20
Nov
65
1678
2734
1538
283s
«
Nov
103
1758
166
66
18i2
1834
n8
17&S
18
*10338
-
1812
1
Hs
66
68
5012
1484
Morrel (J) & Co .......No par
Essex
50
Morris &
195g
18%
15
10
Rights..
Mont Ward & Co Inc. No par
38
51
1478
preferred
Conv
1738
68
123s
5i2
Dec
3378 Nov
156
Jan
2i8May
37s Jan
20% Aug 21
79 May 19
2012
18U
123s
6
14U Nov
11
Jan
Pacific100
40
51
13
57g
t Missouri
20U
29
1514
*27
800
3 884
*86l4
*29U
*1033s
212
2012
173s
-
2i2
Preferred series A
40U
1734
-
2738
214
1
2038
«
bC34
2U
5&s
Mo-Kan-Texas RR
Deo
4514
84i2
1634Jnue 10
385s
1
39
«.
2934
65
2078
*10338
5178
5,700
12,100
Dec
378! Dec
32is
No par
No par
-.100
Mission Corp
x20l4
17i2
1
39
68
9ig
30
2i2
4434
6512
20U
*65lS
■8h
3034
*45
39%
8778
9f8
1,600
99
2H4
100
2034
30
9i8
2014
19»4
21
55s
1
1934
2l2
558
212
6512
1934
2984
30
21
66I4
30
"1884
9
914
2038
9i8
2038
205S
50
8778
68
3
14
Jan
Deo
2384
May
X Minneapolis &
100
4514
3014
18i8
100
~4478
88%
*10338
h
1%
3i2
*45
*29
St Louis-.100
Marie.100
7% preferred
100
4% leased line ctfs.. —100
*3g
*H2
46i2
*86U
Preferred
I9
45"78
17l2
100
58
*555s
57i2
No par
Impl No par
No par
6% pref series A
1^8
99
18
*55i2
Minn-Honeywell Regu.No par
Minn Mollne Pow
*3g
*512
2134
*1734
59
1,400
"8",800
*H2
3858
-
88l2
89*
*85l8
8818
*10612 1121 *106i2 112
7 i
67s
634
65g
h
*2%
-
100
1
1
3912
44%
7i8
Hz
2912
5's
213),
213s
92
30
%cum 1st pref
100
Milw El Ry & Lt 6% pref. 100
Jan
5i2
33
Dec
50i2 Apr
16
8
3578 Mar
Feb
Dec
178
110% June
85
Co .No par
—5
"7", 100 Mesta Machine Co
5
5,000 Miami Copper
10
5,400 Mid-Continent Petrol
No par
5,100 Midland Steel Prod
80
Aug
395s Mar 25
100
7% preferred....
57
Jan
136
Aug
4
92
Merch <k Min Trans
125
12434 12484 *123
104U 10414 *104U
125
Mengel Co (The)
n2
9
23s
5*8
180
*3g
h
2058
30i2
2%
6
214
9l4
5,700
A..
15
9%
2%
31
3038
41
9
$6 pref series
2334 Mar
37% Aug
161
June
978
10
2
new.-l
100
Melville Shoe
4
19i2 Nov
3
May
Jan
l2i4May
100
*•■>
3V
*3
40
59
59
*38
13
*25g
4234
7
""466
634 Mar
Mar
Oct
Sept
30
Feb 13
45
No par
No par
No par
1
Mar
19is Mar
55
103
5
—No par
1
20
2H2 Feb
29
pre!
6% conv
Mead Corp
*n2
*258
3)
*3s
*H2
42
914
*106i2 112
738
*58
60
*58
60
*57
42
887)5
92
7%
71,1
2214
125
*106l2
7i8
2012
10
*10414
9134
92l2
*10612
54l2
223g
4H4
4178
*104
92
*92i2 10314
*107
57
58l4
97g
22
57U
5734
97s
*12212 125
125
36
*34
36
2238
57
10
2258
2213
4078
42
41
*4034
*50
15
Robbina
""loo
105
22
5738
10
10'4
22%
*34
36
*34
36
5534
5514
5414
55'2
*34
36
*32%
36
55
*65l8
*100
105
*100
*141,
15
14
14
*14l2
1512
1512
*1378
1512
108
*107
108
108
*107
10914 *107
10P14 *107
10914 *107
79
*79
79
7878
79l2
7912 *78
79
7S34
*78%
79i2
91
9
834
*834
834
87fi
9i8
*884
8%
8%
858
72l4
70
70
6834
70
6912
70
*6712
*6712
71
*67i2
*325g
99
105
*101
105
*100
105
McKesson &
Mar
12
13i2 Apr 30
McKeesport Tin Plate. No par
4414
95
5
46% Aug 15
Porcupine Mines..5
Mclntyre
1
4i2 Mar
5034 Mar
27i2 Apr 27
6% conv preferred
McGraw-Hill Pub Co..No par
978
*92
95
*14
*
2,500
2i2 Oct
384 Mar
30s4 Apr
1537s Jan 17
No par
4384
4334
4334
4334
42
4112
Feb
514 Apr
38 June
318 Mar
10i2Mar
par
called..
1
684 Mar
Jan 22
43i4May
Mar
1234 Aug
6i2 Apr 28
preferred
Prior
500
95
10
934
10
9%
4334
95
94
95
958
14
*98i4 100i2
20l2
1938
42
4134
19l4
4H4
1614
16U
*9814 10012
IOOIJ
19i8
4334
95
4334
16l4
4134
*91
9378
*92
*98
102
16
4H2
4138
4138
1638
lli8
May
109
108
"33S4 "34"
"34"
33l2
1918
19%
*1878'
335J
33U
I6I4
33i2
par
par
No par
ex-warrs..No par
..No par
Preferred
Preferred
1st pref
32
*3138
par
41
Stores...10
No par
■.
109lo 1091?
*10912 HO
*10&12 110
*109l2 110
*109l2 110
*160
..
4
3
100
16
*160
Jan
6i2July 27
1884 Jan 10
214 July 7
100
Preferred
55'4
*160
2i4
10
Mar
Deo
12U
66is
Apr
Apr
1314 Mar
.
8i2 Apr 30
li8 Jan 7
share
per
3
23U Feb
23
i
29
Jan
57U
32i2May 27
14U Apr 30
17i2May
% per share
5 per share
13
Aug
$ per share
7 June 30
No par
X Manhattan Ry 7% guar. 100
3712
Mod 5% guar
.
100
16
"Y,8o6
Manhattan Shirt
25
19i2
1
""966 Maracaibo Oil Explor
338
11,200 Marine Midland Corp (Del).5
1178
-.100
310 Market Street Ry
lh
Preferred
—100
834
Prior preferred
100
235g ""216
12
38
*16
16U
19i2
1618
'hl34
338
15
1412
38
117s
46i4
*45
*3312
Par
Shares
$ per share
$ per share
12
13
13
17
19i2
338
12
3i8
1188
Vs
*ll2
*338
1218
12
*1734
*16<4
12
3934
*33
358
11?8
178
834
23i2
338
338
IH2
lli2
1214
34
1634
1034
S per share
$ per share
S per share
$ per share
Highest
Lowest
Highest
Lowest
Previous
Year 1935
100-share Lots
EXCHANGE
Friday
Aug. 21
Thursday
Aug. 20
Wednesday
Aug. 15
On Basis of
STOCK
NEW YORK
for
Range for
Range Since Jan. 1
STOCKS
Sales
SHARE. NOT PER CENT
HIGH I SALE
PRICES—PER
AND
LOW
1936
22,
Aug.
New York Stock Record—Continued—Page 7
1188
new__No
nar
2
7
7
Aug 18
Jan
6
22i8May
4
12i4 Aug 17
24l«
J»n
ft
300
June
9
3634 Feb 20
57
Mar 24
4l2 Mar
30
6
Jan 22
1712 Jan 15
545«Mav
F>
35i2 Mar
*20
16%
Oct
55
7%
102
Dec
Dec
Nov
1018 Nov
Aug
Volume
LOW
New York Stock
143
AND
HIGH
SALE
PRICES—PER
SHARE,
Record—Continued—Page
Sales
CENT
NOT PER
STOCKS
NEW YORK
for
Saturday
Aug. 15
Monday
Aug. 17
Tuesday
Aug. 18
$ per share
$ per share
Wednesday
Friday
Aug. 19
the
Aug. 21
Thursday
Aug. 20
20
*81
1938
$ per share
827S
53
*50%
*114i2
■___
*153
*81%
*50%
154
*15
153
6
128
*5i2
6
39%
56%
1912
129
•
39%
5612
*127
5%
512
*11
lli2
6I4
3934
12
6U
39U
5634
I8I4
39%
5634
18i2
128
12834
5%
*1134
*5%
5684
19i2
*18%
—j
150
16i2
*11
12
8234
53
8212
*50%
*114%
152l2
148i2
1612
1634
I6I4
53
153
1512
*5%
6
*18%
*8114
*5012
*11412
*11412
15%
*5i2
*11*8
*5%
39%
56%
8234
128
6
39%
56%
*1812
128
♦14912 152
*149% 152
*149% 152
*149i2
143s
143s
i4i2
1412
1434
14%
14%
103s
1012
13
*12U
*214
238
*56
58
8134
106
10U
*12*2
10i2
2*8
2%
*56
8134
106
lOU
*12l2
13
*78
106
734
778
6534
6512
6578
8%
85s
*26'4
3U
2678
8I4
26i4
858
42
42
235s
235s
*5%
3is
534
7%
1112
*2%
8'
8I4
26
42
6
6
734
758
2%
238
11
*238
2i2
6314
9012
4%
90
90*4
4*8
634
8834
378
89*2
40
41
6%
90%
378
6%
41%
39%
21*2
41
39
39
23
215s
2134
2134
37%
37*8
3784
37
3738
3714
3778
48
48
48
48
48
48*s
4*8
6%
6i2
40
*2158
135
52
*115
116
51*2
52*2
5i2
5%
*4058
5i8
*5i8
*41
43
*86%
87
*23
24
14
116
52i8
*412
*41
4514
102% 103*2 ♦1015s
86I4
86*4
*8614
*100% 103
24
14,
24
25
14
1358
39%
38i2
40
*1334
12%
39l4
*5212
54
*53
55
*93%
97
*94
97
12'4
•
*115
52l4
12l4
12
12*2
39
5312
*95
*414
6
*4U
*9i2
2%
10
; s%
8884
94
86
89
87
*9i2
1214
*9%
12
*9i2
*71
2iS
83
178
*71
42%
4234
425s
*6is
7i2
*6l8
*70l2
*1034
*134
75
1H8
30
1^8
30
III4
1134
*46%
50
Yl
77
♦3334
*168
15%
*20i2
19
*71
8284
4314
7*2
425g
6%
75
*69%
*10i4
103s
30
30
1134
10*2
11
11
11
49
48
48
178
134
50
*46
Yl
*18214
105s
*158
2
17
714
7l2
*73s
86i2
*8412
*84l2
34
34
174
2212
19
34
*168
177S
1578
2234
1984
15*2
*20%
19%
1534
2234
193s
15*2
*20 *2
15*2
2234
1978
6
3U
314
214
734
3%
6
6
*178
7%
2*4
314
338
7%
283s
28
28
28
28
47
465s
47U
4634
47
*120
♦120
108
95i2
14's
14i8
11
55
114
*113
56
18's
107%
9512
14*8
HI4
1034
11
73*l2
*7312
63s
638
*33
6i2
3458
45
45%
*46
49
*40
*10
34
74
34
45
4178
*40
*10
IO84
78
2
*76
40%
78
*76
16i2
"18I3 "l834
*87i2
*22
*100
4%
215s
88i2
2212
103
4%
22i8
105
106*2
100
100
15
*38
15
41%
*115i2 117
*2434
2538
*10738 109
*2612
27i2
56
56
*59i2
60
*108
26*2
55*2
59*8
1312
*13,
26i2
27
*4314
45
27*2
*4314
*12i2
39
109
For footnotes
2478
74"
634
35
50
50
108
2714
26«s
56
5512
60
133s
13%
28»4
28
*4338
see page
1182
1«4
400
*182*4
le'eoo
10*4
1034
72
74
110
2
73*2
6*2
34*4
*134
Pitts Youngs &A Ry 7
Pittston Co (The)
19
1978
14,500
500
"Yeoo
Preferred
122% 122*8 *117
55%
56*4
1678
17%
107% 108
9534
9534
14
137g
41*2
1034
*10
7734
76
49
23s
16
1778
2%
*15
17*4
2*8
16
17%
18
89
*22
103
39
109
26*2
5578
60
133s
28*2.
44
39
117
2458
109
*25*2
55*2
*59*8
*12*2
28*2
43 78
3934
117
25
109
*39
41
116% 117
24%
110
25
110
7% preferred
8% preferred
100
557s
13,800
Pullman
1634
49,900
100
Pure Oil
108
96
.
180
300
inc..
..—No par
(The).
...No par
8% conv preferred
100
6% preferred
100
Purity Bakeries
No par
Radio Corp of Amer
No par
1334
6,300
10%
86,300
73%
"l"206
6%
7,600
3478
1,500
$3.50 conv 1st pref.No pat
t Radio-Kelth-Orph...No par
Raybestos Manhattan.No par
45
1,900
Reading
Preferred B
43%
*45*2
48*2
*40
4178
10
1st
""Y66
~*2~
100
76
*
10
10'
2%
200
*15
16
16
17
"2", 100
17*2
87*2
18
5,900
87*2
*22
101% 101%
4%
4%
22
20%
103% 105%
*96
100
1434
15
39
39%
*115
24
*109
400
22%
119
2478
115
No par
50
Silk
30
9,200
1,300
900
2,000
250
1,900
200
29
55%
*59%
*12%
*28*2
29
27
27
437s
♦42
2,400
44
*42
44
100
28
27
27%
5578
55
56
60
59
59%
270
*12%
13%
100
2,200
8,500
Apr
6
4% Deo
8%
Deo
May
15
1% Nov
81
July
84% Sept
6*2 Aug
5*2 Aug
30% Nov
13
Mar
13% Oct
7% Mar
11
98
July 15
38% Mar
12
81% Jan
3% Jan
8% Jan
l%July
66
7% Apr 29
May 29
38*8 Jan 6
68
5% July
3
July 13
Jan
2
1*2 Jan
Aug 14
,7%June 8
35% Apr 28
176
Feb
3
30
7% Apr 30
49
35% Mar
5*2 Mar
Mar
84
Feb 21
17
2*2 Feb
37*4 J&n
12
12
May 18
Jan
2
4*8 Jan
1*4 Jan
2
6%May 21
2*4 Apr 29
18
Aug 14
June 25
Jan
9*2 Apr 11
91% Apr
41% Apr
8
4
16*2
26*2
20*2
9%
3%
12%
Apr
Jan
2
287s Jan
35% Jan
6
8
Deo
Nov
1%
Dec
Apr
38
Mar
1278 Aug
26% June
172
Feb
Nov
44% Aug
Aug
180
5*2 Mar
10
Deo
55
Oct
1
Mar
10%
1*4
24*2
67a
Apr
2% Nov
16*2 Deo
Mar
3% Sept
Apr
62
Nov
June
25
Nov
1
Mar
2% Aug
6% Mar
1% Mar
12% Nov
578 Nov
6
*4 Feb
4% June
2*8 Nov
16% Jan
5% Jan 16
% May
4*4 DiO
6*2 May
26% Di 0
53% July
Aug 13
Mar
Jan 11
Feb
114
5
78% Nov
13
112
68*2 Apr 28
July
2% July
% July
6*2 Mar
164
2
Deo
Dec
Mar
Jan
Aug 21
May 1
91%May 4
9%May 9
9%May 12
83% Jan 2
Deo
40
50
July 22
3% Feb 6
Jan 16
16
85
167
36
367s Jan
Jan
z68% Deo
14% Deo
10%
Jan 17
49
103
Nov
4%
22% Mar
85% Mar
Apr 30
7
4% Nov
10
7
40%May 12
117% Apr 7
39
Apr 29
103*2 Feb 21
113% Apr 3
128
Apr 4
146
Apr 14
Jan
Deo
Mar
11% Jan 31
2
1% Apr 24
1178 Jan 6
14
31
51
21
Deo
19% May
3
Feb
181
June 20
20
53*2 Apr
13% Mar
Jan 15
3
July 22
5
49% Apr 2
978 Jan 10
2
Jan
54
19*4 Dec
101% July 24
15*2 Feb 7
4
Jan
Nov
1% July
Jan
3
4
34% Nov
64% Deo
28*8 Deo
45% July
85*4 Nov
3*2 July
1% Mar
88
Dec
Apr
Oct
Feb
Mar 13
l%May
14
Mar
Aug
12% Mar
1678 Mar 13
3% Jan 13
Mar 13
32*2
39%
116%
43%
2
122*2 Feb 26
49% July 22
113
July 15
130
July 14
144% July 14
July 14
Apr
1
42%
115
Jan
Jan
20% Mar
62% Feb
73
Mar
121
Nov
46% Nov
104% Deo
117
Deo
132
Dec
100
Mar
148
Deo
99
Jan
113
July
85*8 Mar
57*2 Aug 13
2478 Mar 20
29*2 Oct
578 Mar
133% Apr 17
117% Mar 27
49% Mar
11978 Dec
65
103
17% Jan
6
14% Jan 17
108%June 18
8%
4
June
Feb
Mar
527g
17
Jan
Dec
Dec
17% Oct
13% Deo
35% Mar
92
Deo
6
Oct
80
July 15
9*4 Feb 19
3
38% Apr 14
48% Feb 24
1*4 Mar
16*2 Mar
2978 Mar
30% Dec
43% Jan
43% Nov
Jan
7
49*8 Aug 11
36
Jan
4
38
Deo
2
4178 Aug 4
16% Jan 30
33
978 Jan
3% Apr
11
Aug
4
88
20*8 Apr
72
Nov
100
Re is (Robt) & Co
No par
Remington-Rand
1
$6 preferred
25
preferred
25
Rensselaer <fc Sar'ga RR Co 100
Reo Motor Car—
5
No par
100
6% conv prior pref ser A. 100
Copper & Brass
Preferred
Sept
101% Sept
14% Sept
21% Nov
39
1st preferred
100
Reliable Stores Corp—No par
Class A
Deo
12
37
...10
Preferred
Revere
Nov
50
Hosiery
30,600 Republic Steel Corp
3,200
6% conv preferred
20
50
preferred
2d preferred
Real
Prior
2678'
13%
...No par
100
Pub Ser El & Gas pf $5-No par
557g
13*4
par
6% preferred
1
267g
60
Corp of N J._.No
$5 preferred
6%
33%
41%
10*2
76
par
72%
34%
45%
48*2
*40
No
5% pf (ser of Feb 1 '29). 100
Pub Ser
1,100
*98
74
34%
*10
*87*2
13%
10%
65„
11
1734
*95
1034
6%
40%
*76
16
107
*98
45%
*45*2
41*4
7734
53*4
100
Gamble
17% Mar
2*s Feb
9% Mar
16% Mar
23
No par
Procter &
Oct
4
t Postal Tel & Cable 7% pf 100
t Pressed Steel Car...No par
*120
Ye"*4
1077S 108
5
18
Feb
19*8 Mar
Porto-RIc-Am Tob cl A.No par
No par
Plymouth Oil Co
88
Aug 7
25% Aug 20
17% Mar
30
108%
40*4 Apr 11
54% Aug 19
7
167
20%
3,000
Mar
10%June 30
45*2 Jan
% pf 100
Class B
Mar
25% Jan
7
Pond Creek Pocahon..No par
Poor & Co class B
No par
3*2
2
2
600
100
6
58% Jan
3,100
3*2
Jan
21
2%
15*2
400
Apr 27
100
20%
7*2
6
100
15
2
3
18
5
25
Preferred
20
45%
4*6*4
*10734 108*2
35
100
2234
*120
45*2
25
Pittsburgh United
1,600
74
par
100
6% preferred
Feb
Apr
2% Mar
Deo
807s
Oct
8*4 Feb
% July
Oct
Dec
17s
% Apr
47a
Feb
8
7% cum pref...100
Pitts Term Coal Corp
1
200
6
Mar
12%June
70
Pitts Steel
2*8
15%
3,200
658
No
Pittsburgh A West Va
2734
74
50
.50
100
Pitts Ft Wayne & Chic pf.100
Pittsb Screw & Bolt..No par
140
46%
10*2
4
100
980
2734
14
46% Aug 10
103% Aug 17
38
100
"""900
46
11
2
25*8 Apr 28
64% Jan 3
No par
7*8
837g
47*4
105s
Feb 21
110
Jan
3434
*178
May
Deo
7*2
2% Mar
27a Mar 17
10% Mar 24
48% Mar 24
27% July 17
14
Aug 19
Jan 13
3334
*534
Nov
9% Aug
11
5*4 Jan 23
47*4 Mar 10
26%June 12
10
Apr 1
117s Apr 2
17% Jan 24
39
Feb 19
16
35%
*7*4
3*4
67
1
Apr
49% Ang 7
116%June 9
56*4 Aug 10
7% Feb 19
Preferred
100
6
June 30
56
Pillsbury Flour Mills
Pittsburgh Coal of Pa
17*2
29
*113
17
135
100
*1334
7*8
82%
2%
7*2
7
3
28
100
Pierce Oil Corp pref
Pierce Petroleum
1,500
1034
6
45*4
*45*2
*115*2 117
24i2
24?8
60
45
2,000
18*2
18*8
18%
89
*87*2
*22
22%
22*2
*100*4 101*2 *100
101%
4%
-4%
4*2
4%
4%
2158
22*8
22%
2178
2178
22%
106
105
IO6I4
10578
104% 105
99%
9914
99*2
99%
9834
99*4
15
*14*2
15*2
15
14*2
14l2
3812
*115*2
2434
1,600
11%
46%
14
*2
117
30
1034
800
28%
*98
*15
38
30
11
2
6%June 20
87% Feb
12% Jan
100
Preferred—
114
2%
105i2 IO6I4
99i2 100
15l2
15*2
75
10*4
*113
16*2
18
18*2
89
22i2
4l2
2214
200
47*4
114
4*8 Jan
Aug
8
135
Corp
No par
7% preferred
..100
Phillips Petroleum....No par
Phoenix Hosiery
5
~8~90(j
6*4
28
55*2 56*4
1758
177g
107*2 107*2
*95*4 96
*2
4U
2158
42*4
114
*113
7
4
Apr 28
Dec
6
Aug 19
28% Apr 29
Phillips Jones
100
*17*2
183s
*87i2
*22
100
1%
30%
7*4
2% July
40%May
6% Mar
71*8
Feb
30
No par
Phillip Morris & Co Ltd.... 10
900
*15
*100
10*4
12
par
50
;
Phila & Read C & I
8234
140
212
103
4,200
165
114
No par
t Phila Rapid Tran Co
7% preferred
17,700
10
*17S
7*2"
3%
46
pref..
$6 preferred...
1034
87
3
Phelps-Dodge Corp
25
Philadelphia Co 6% pref...50
250
1%
*1%
J une
No par
Petroleum Corp. of Am
5
Pfeiffer Brewing Co...No par
800
123%
18i2
18i2
8758
2212
87%
7*2
3%
conv
Pet Milk
11,500
*69*8
2
3
57%
Prior preferred
Preferred
600
6*4
17%
Jan
Nov
21
% June
64%
People's G L & C (Chic)... 100
97*2
1%
3*2 Mar
10% Jan
9
Feb 21
Preferred
600
41%
75
6% July
Jan
678 Jan 28
Peoples Drug Stores..Noo
6
*71
Feb 10
Feb 19
91% July 31
$7
3,200
4,300
86
142% Deo
73
500
1%
84%
10*4
Jan
Aug 17
103% 103*2
86
85*4
*25
2578
13%
1378
1134
11*4
36*2
38*2
9*2
Deo
111%
18
8% Aug 19
17*2 Jan 13
100
*5
123
Mar 13
100
*9*4
Jan
3*8June 23
4% Jan 2
28% Jan 2
Peoria & Eastern
*95*4
Jan
70
69
Pere Marquette
54
21
60
..No par
500
54
31% Deo
56
13
7*4 Aug 21
Deo
Mar
20%
Apr 28
Deo
5%
June
2
July 30
Deo
10
13% Mar
4
7
67
59
378
12
Jan
4*4 Apr 6
74% Apr 4
97% Feb 13
106% July 31
Nov
17% Nov
Mar
Aug
Jan
103
1
No par
200
*137
16i2
*22
6*8
2*4
2%
15%
*20%
1934
1
5%
43*2
*150
*2
*100
*1%
*1334
7*4
86*4
3434
10
Pennsylvania
20
74
74
July 16
9,700
140
*15
183s
*182*4
10%
152
52%
165
18
*15
116
*137
45
*10
600
*150
49
4178
11
47%
100
140
45
49
49
8
Penn Coal & Coke Corp....10
19,500
4934
30
*1078
Jan
129
19
Feb 27
3,600 Penn-Dixie Cement—No par
1,000
Preferred series A__
100
1,000 Penn G1 Sand Corp v t c No par
165
*46
45i8
*46
700
47*2
1
July 20
58% July 22
19% July 11
140
115% Mar
,3% Apr
Penney (J C).
2,800
48%
Feb 11
Patino Mines & Enterpr No par
Peerless Motor Car
3
Penick & Ford
No par
700
134%
37%
114% Mar
9% Feb 10
130
100
Park Utah C M...
Parke Davis & Co
500
*137
18
6%
*3338
27*2
46*2
*69%
1034
1%
41
10*8May 20
1*8 Jan 2
35*2
4834
*4i2
43%
30% Jan 11
47% Apr 30
14*4May 15
23
3734
*114
17
1,900
67g
115
8
3
3
Park-Tilford Ino....
3,600
1,800
♦157
5578
74
684
115
8*4 July
Jan
4%
1
First preferred
Second preferred
Dec
Mar
Jan
100
Dec
55
Aug
1
3,400 Parker Rust Proof Co...2.50
1,100 Parmelee Transporta'n.No par
3,400 Pathe Film Corp
No par
378
21*2
Mar
14
9% Feb 11
118
Paramount Pictures Inc
302
40*2
21%
134l2 *122
37*4
48*8
80
1778Mar 25
100
conv pref
92
Mar
8
100
Panhandle Prod & Ref.No par
8% conv preferred
100
Paraffine Co Inc
No par
4%
38
Feb
2
par
No par
No par
26% Deo
July
17% Sept
125
Jan
2
11% Apr 30
138
*98
73i2
21*2
*122
No
95% Feb 19
Dec
Nov
11% Nov
4% Mar
22% Jan
July
678
12%
1%
18*2
200
63
6*2
preferred
106
3% Jan
Pac Western Oil Corp..No
par
8734
39*4
Jan
13
June 12
20% Mar
July 22
164*2 Mar
Packard Motor Car
No par
Pan-Amer Petr & Trans
5
300
534
21
128
Pacific Telep & Teleg
800
7*2
41
Co...25
Pacific Amer Fisheries Inc...5
Pacific Coast
10
Jan
2,300
165
10612 106*2
9534
9534
14's
14*8
1034
1078
*98
6
*17s
7*2
3%
*120
175s
1734
95l2
19*8
4678
4612
46%
108i2 ♦108
10884
12358 *119 ' 1233«
55*
*106
7
658
114
Pacific Ltg Corp...
Pacific Mills
13,800
334
53
July 22
29,800
2%
87
7
114
100
6% preferred
11
*59*4
47
..100
Preferred...
Owens-Illinois Glass
5,300
1,100
4,000
*2%
7
No par
Prior preferred .;
No par
Pacific Gas & Electric
25
14,400
7*2
2
20%
107
Jan
4% Apr
11*8 Apr
32% Feb 24
2
Outlet Co
3% July
75
Mar 25
136
Jan
1st
1,000
5%
14
24% Apr 27
2d preferred..
250
25% Mar 30
115% Feb 24
12% July
70
July
5,800
'
17
par
30
190
173
2%
*55s
♦113*8
2
17*2
7%
8634
353s
*2*8
*178
5614
18i8
75
*15s
*1334
7*4
85*2
33*2
*166
Y034
2l2
♦75s
1034
2
174
30*2
*238
2
♦98
*76
7%
8612
34
10*2
1%
2%
8i8
*11318 114
*95
73
*1334
4634 "47%
4678
471s
4634
IO884 109
*10814 109U 108*2
*120
12412 *120
1235s *120
144
a.138
13814 138U *137
*158
165
158
165
*158
*106
*183*4
105g
....
178
2212
193g
*120
5512
11
75
75
17*2
*2ls
155s
6
77
I84
*15*8
2i2
155s
2
11%
75
*69*8
30
*168
3512
*57S
75
190
42
24%
11
5234
52*4
53*4
5*8
5*8
*412
5*2
45
43
4514
43
45*4
104i2 ♦1015s 104*2 *103*2 104l2
89
86*4
86*4
86*4 86*4
*25
25*8
26'4
25*2 25*2
14
13%
135s
1334
14
12*4
1178
12*8
11%
1178
39
39%
39i2 3978
3978
*54
5378
5412. 545g
5434
97
97
*9514
*95*4 97*2
6
*5
6
*414
578
934
9*4
934
*9%
9*2
178
178
1%
178
178
86
88i2
86i2 87
87*2
12
11
*10i4
*10*4
11*2
*71
*71
8284
8234
8234
4314
42*8
4278
42*4
4234
6*4
*6*8
7*2
*6*4
7*2
178
87
116
2334
4
123
9,800
8%
2578
3%
*41%
52%
*4l2
11U
1034
174
*115
30
♦75
.17%
734
♦75s
3%
*2714
465s
178
135
10*2
1%
30*4
2
*134
784
♦843s
*414
934
*182
11
*75l8
♦I6I4
*70i2
lOU
*134
*45i2
*182
6
984
2
53
2178
41l2
24i2
534
2
7%
3
734
11%
2i2
2
Jan
66*2
8*4
3*4
7
Jan
8
78
*25
60
378
47%
8%
July
107
60
7*4
per share
Coll & Co ..No par
1,200
...
66
26*2
60
90
116
8*4
60
65S
*46
"7%
665g
*25
534
4
*115
7*2
$ per share
Otis Elevator....
No par
Preferred
100
Otis Steel
......No
7,900
2%
78
$ per share
Oppenheim
52
*107
66
8
91%
373s
2%
52
11*4
23g
4
6i2
80
2*4
3%
41%
24%
5%
734
11*4
2%
*90i2
*3912
*21i2
80
41l2
243s
60
*378
55
Highest
$ per share
3,800
10
13
8
60
90
13
*53
26*2
33s
3*8
41*2
2334
534
734
11*4
23s
63 i4
*6i2
13
66
*60
*60
*12*2
*2*8
Lowest
4,900
-
10*2
60
734
11
10*4
"734
*25
2334
534
10*2
*107
8*8
26
31s
11
80
*10638
758
66
42
11
2i2
66
314
42i4
2384
534
7%
778
*11
"784
24
41*2
23%
55
80
80
75s
65l2
26i4
3%
'
314
54
*106
6584
*2%
1212
2*4
56
80
8134
>
77g
10%
25S
56
778
103s
paT
Highest
Omnibus Corp (The) vtclVo par
Preferred A
...100
1,000
...
10l4
12l2
13
*2i8
57
106
1012
1578
15%
16
*82
82%
82% 82%
52
52
53
*50% 53
*114l2
*114%
148
149
*148i8 15034 148
16
16*4
1658
I6I4
16%
*6
6%
5%
57g
6I4
12
11%
*11*2
12
1134
*5«4
6U
612
5*2
5*2
38
40
3834
3878
3934
54
56U
5634
56%
5634
18
19
18%
1914
1914
126
128i2 128% 128%
128%
152
*149% 152
*149*2 152
14
14
1434
14U
14%
Year 1935
Lowest
9,500
16%
8212
Range for Previous
On Basis of 100-share Lots
EXCHANGE
Shares
1978
1189
Range Since Jan. 1
STOCK
Week
$ per share $ per share
$ per share
1938
1978
19%
1978
1934 20
187g
19%
*108
113l2 *104
113% *104
113i2 *104
113%
11312 *108
113i2 *108
1114
11*4
11%
11%
12
11«4
12
1178
1234
1234
12%
1314
2838
29
277s
28is
28is
29
2834 29
27*2 28*4
2834 29
*130
13478 *130
13478 *130
13478 *130
134%
13412 *130
134% *130
1578
16
1534
I6I4
15%
1578
15
153s
20
8
5
10
100
Reynolds Metals Co
No par
534% conv pref
Reynolds Spring new
...100
70
Jan
17a Apr 28
12%May 7
Aug 21
17*2 Aug 21
85*2 Jan 3
16
21
July
9
101% Aug 21
4'g July 8
1678 Apr 30
77 May 4
78%May 4
10
Apr 20
24uJune
9
90
Apr 28
22%May 25
105
Apr 27
Feb 17
3% Jan 14
22
18%
23%
99%
24%
Apr
Apr
1
Mar
3
Oct
8
Mar
18
Nov
Aug 17
Jan 15
7
June
Apr 15
69
Aug
Jan 14
Jan 23
114
Apr 15
8*4 Mar 25
26% Feb 19
106% Aug 15
100
Aug 15
21%
Oct
98*2 June
2*4 Mar
9
Mar
20%
88
Dec
Nov
25% Nov
110
5%
Mar
Deo
20% Nov
28% Mar
97
78*2 Oct
5% Apr
95*2 Nov
16% Feb 17
41% Aug 10
13
120
34
Jan 23
Feb
5
117
Jan 13
30
Apr
75
Apr
17*2 Apr
16
37*8
Nov
Dec
Deo
115
Nov
32
Dec
July 17
101
June
113% Deo
1
25
July
Reynolds (R J) Tob class B.10
50
Apr 29
58% Feb 28
43*8 Mar
58% Nov
Class A
10
3
59
Aug 11
10% Jan 3
65% Feb 10
55*4
Rhine Westphalia El & Pow._
Ritter Dental Mfg
No par
13% Jan
19*2 Feb
2
35
11*2 Dec
5*4 Mar
13% Mar
20*2 Dec
Roan
32
3
44% Am? 13
217#
33
Antelope Conner Mines
Jan
9
MarlO
Apr
Feb
67
Nov
Deo
LOW
Aug. 17
$ per share
2478
6
4i2
238
*111
11
*11
11%
36
*27
32
28%
28i2
28%
28%
111%
111% 11U2 *110
111% 111% *111% 11134
13%
13%
13i2
*12l2
43%
4438
43%
4334
"99
99
9938
*9812
1%
1®8
1%
1%
*10
10%
1034
*9%
62
62
62
62%
1
78
78
%
2%
2%
*23g
212
3234
3134
3234
31%
12%
4438
99
99
15s
1%
*934
1034
61%
6058
61
78
1
*5
2%
238
33
5
5
5i8
8214
*338
•
6812
6712
2478
2412
14%
22l2
*9214
*54
58
14.%
2378
9334
1438
23%
23
5734
99
62%
%
*9234
714
7%
58
185s
*120%
934
3212
61%
2%
31
31%
4%
2%
32
5
5%
4%
83
79%
3%
3%
1
2%
82%
3%
183s
414
27
10012 10012 *100% 105
*4312
23
32
3234
1*56
*
*
153
~31%
32i4
"3112
31%
~3178
40i2
2034
4078
3914
2038
4078
40%
21
20*2
41i4
213g
40%
2078
3834
39%
3758
3934
38
3918
3834
5434
*9i8
*6558
5434
5458
*50
*50
69
*6558
*7958
*7958
3278
2U4
32~78
*27
28
*52
52i2
8158
81%
*106% 10958
28%
28i2
1538
15i2
33
200
31
100
20%
2734
*51%
2U4
215g
27
27
51J2
5238
45
*44
45
*50
51
49
51
3658
36i8
36i4
3634
3612
36%
26
*25
37
36i2
26
*23
3678
37i8
26
4934
183g
1914
1178
19
1834
1914
1138
11%
1138
113g
82
82
82
82
*80
*120
122
*120
121
121
121
36%
36
3612
11%
81%
1438
120
36%
36%
4
4
4's
$6 cum prior pref
No par
35
36
16,600
Standard Oil of Calif
36%
37%
11,600
No par
7
4934
*48
18
1734
18
1134
12%
1834
12%
81
19%
81
120
120%
120
36%
35
36%
.
4
14
3%
120
36%
4
3,700
14,600
44,600
500
100
1,600
9,500
No par
Convertible preferred
Stewart-Warner
Stone & Webster
50
5
No par
t Studebaker Corp (The)
Sim
Oil
1
100
600
7%
4,700
38i2
37is
39
38%
39
39%
37%
3734
36%
37%
36%
37
36%
36%
5,400
11
1138
11
11%
11
11%
10%
10
10
*900
1100
10
9%
*900
*900
1100
*900
1100
48
*44
48
*44
48
4534
46
34
35
*3434
35U
35%
35%
*61
6214
IOI4
62l4
IOI4
*61
6214
62%
*61
*10
*80%
89
90
*87
1100
*34
90
9%
*61
10
*934
10
90
90
90
9%
534
9i2
30%
934
9l2
*534
30l4
*914
6%
30U
934
28&s
29
6%
*584
*29
934
978
0
*27l2
*9U
31
10
*9U
2834
*534
*28i8
2834
28l2
5%
28%
6
30
2818
28i8
1634
17
558
534
10434 10434
29
1658
30
167g
*48
*48
5478
21
2U2
2U4
*48
2178
x63%
64%
633a
13%
1312
6318
13U
19
19%
13i2
19i2
13U
20%
1338
1038
10%
7
7
10%
9
13%
*10812 1095{
7%
9i8
7
7
9%
7
*838
912
26l4
3612
1334
8738
IOI5
26i4
26%
26%
36%
1334
14
26%
3634
13%
27
36%
89
89i2
87
87
3i2
8214
3%
8134
37
14
3%
82%
*126lS 13238 *126i8 1263s
40% 40 ]4
40i4
4014
For footnotes see page
2834
1634
547g
5478
109
934
6
41%
934
*87
21%
63%
*61
10
*9%
90
90
9%
-
500
90
9%
50
2,200
29%
29%
2734
29%
2,800
Thompson Prods Ino
5%
4,100
Thornpson-Starrett Co.No par
$3.50 cum pref
No par
534
*27%
1634
5%
5%
6
300
200
—
700
63
62
63%
63
36
1334
*85
42,300
5,500
13,200
3,400
1,100
8,300
100
1182.
80%
334
81
97g Jan
884 Dec
3014 Dec
3684 Feb
914 Oct
12i2 May
Dec 1075
Apr
28 If
1318 May
4438
50
61
May
5% Apr
6H8 Jan
2i2 Mar
125s
100
Dec
Dec
Dec
Nov
Oct
Oct
10i2 Dec
5
Jan
Mar
29
Nov
245$ Jan
2
3234 July 31
133s Mar
478 Jan 21
8i2 Mar 23
3934 Feb 25
17
26
Apr 30
1434 Jan
1005g Jan
6
3
July
19i8 Feb
106i2Mar
4
3
8
60
Mar 11
22
Aug 19
Transamerica Corp
No par
Transcont & Wesfn Air Ino..5
Transue & Williams St'l No par
6
Apr 27
11
Apr 30
1478 Jan 2
72i2 Feb 18
1434 Feb 25
27% Apr 4
10%May 19
16i2 Jan
2
Tri-Continental Corp ..No par
6% preferred
..No par
Feb
4
93
10
Bearing .No
Traer Coal
par
No par
2,700
14
2,800
Twin City
84
90
50
Dec
33i2 Dec
li2 Nov
6I4 Deo
June
Truscon Steel
700
Sept
2
12*8 Jen
Rap Trans. .No
Preferred
Ulen & Co....
Deo
9
16
12% Feb 14
56
Truax
Mar
26
22»4
9i2 Feb 18
No par
Timken Detroit Axle
3,100
5,900
Deo
1284 Aug
3078 Aug 12
Tidewater Assoc Oil...No par
Preferred
100
Tide Water Oil
No par
Timken Roller
Mar
3058
2
5
3
36%
3%
5
121
8% Jen
13%
79
Feb 28
125s Mar
14
Nov
3% Jen
84
334
110
•
Deo
1034 Nov
2334June
13%
81%
62% July 27
14% Mar 5
1050
1618
77
l
89
36
4
8
Dec
25
10
20th Cen Fox Film CorpNo par
Preferred
..No par
36%
June
8%May 23
Jan
Dec
Dec
187g
Mar
16i2 Mar
2884 Apr
314 Jan
8i2 Jan
3
Feb 29
Mar 6
Feb 18
July 21
Deo
60
100
Third Avenue
Third Nat Investors
Thompson (J R)
4,500
700
334
80%
1
10
30%
2,200
*3%
,
89
100
Co.
*9%
*5%
*28%
3%
81
Preferred
Thermoid
Mar 25
Feb
4
Nov
4
10
3% Deo
I4 Apr
U4 Apr
6% Sept
1478 Aug 10
93s Jan 8
10% Mar 11
40
July 22
44
834June 16
6
68
Jan
177g Oct
314 Mar
15
Sept
32i2 Dec
July 27
234 Feb U
49
59
5
3578 Jan 30
2
Jan
15s
10% Aug 21
337b Apr 27
28
60i2 Mar
115i2 Jan
ill
Apr
16% Aug 20
33
$3.60 conv pref.....No par
Fair
No par
10
8034
126i8 126'8 *126% 126% *126% 12634 *126% 12634
41
40%
40%
40%
40%
40%
40%
*40l4
312
80
No par
30%
v
14%
Co. 100
*5%
*2934
*9%
300
87
Ry
Mfg..
9%
*104% 105
*104% 105
*48
*48
54%
54%
54%
22
21%
19%
21%
2034
36%
Pacific
2i2 Mar
2U Apr
Mar 12
Jan
Mar
65s Mar
634 Mar 12
25
Deo
32i2 Nov
36
40t2 Mar 18
36
Feb
6238
12i2 Mar
6884 Jan
U8 Mar
3ig Mar
8
28
16
27
4
32
3584 Mar
4*8 Jan 28
Jan
6
3834
15%
712 Jan 6
143s
9%June 30
100 1000
July 15 1375
9%
6
Dec
1284 Jan
1
The
5,100
13%
&
9%
1634
87
25
Old
Texas
Thatcher
13%
13%
13%
13%
12%
13%
20
20
19%
19%
18%
13%
1334
13%
13%
13%
13%
10
10%
9%
10%
10%
10%
*108% 109
*108% 109% *108% 109
7
7
7%
6%
7%
7%
1034
10%
10%
10%
10%
10%
27
26%
2734
*26%
26% 2634
36%
-
500
16%
14
(The)...:
Gulf Sulphur
1,400
17
87%
3%
Texas Corp
34%
62%
19%
363
5
42
41%
28
63%
....6
Texas Pacific Land Trust
28
17%
Class A___
Tennessee Corp
No par
Texas Pacific Coal & Oil.__.10
30
29%
No par
....No par
8,400
*3334
3338
Oct
12434May 15
28
28
3
2
14
27
6
6,600
3534
62%
Deo
Mar
2
Jan
2i2 Nov
Apr
116
20
2
95s July
23
12is Dec
914 Aug
113s Aug
26ig Deo
2878 Deo
23
Jan
Jan
Jan
Apr
Feb
Jan 11
20% Apr
281* Apr
Us Jan
5% Jan
634May
5% Apr
28% Jan
Telautograph Corp
Texas
3
Jan
1918
130
Feb
1458 Mar
4
Swift Internat Ltd.....No par
30
Mar
7g July
111
105ig Nov
407g
91
25
Symington Co
Oot
1818 Deo
15i2 Oct
2784 Mar
2
658 Jan
11
44
Jan 24
Feb ~
6
(The)...50
10
934
*900 1100
104l2 10434 *104% 105
2058
6458
IOI4
6
30
28%
534
*27%
6%
*48
109
9%
*9%
29%
•
*1234
17,700
39
37
*10
3,600
39
1100
*61
700
10
Nov
84
Mar
Mar
Mar
Mar
Jan 17
Jan
9is Jan
27
7%
9%
July
24i2 Apr
21»4 July
118
14%
7%
55
334
113i2
475s
4018
16t2 Apr 30
14% Jan 2
100
Superior Steel..
Oct
48
6
50% July
53i2 Jan
Superheater Co (The)..No par
Superior Oil
1
7
*7
18,200
Deo
8i2
Mar
Mar
Feb
Mar
July
2i2
U2
I84
4>4
1334 Mar 17
97g Feb 17
193s July 9
8%May 8
48
May 18
72
Preferred
Jan
23sMay 21
No par
...
*7%
9%
2
Mar 27
65
Preferred
1334
10 ig
Aug 21
Sterling Products Inc
10
Sterling Securities cl A .No par
100
1,400
7%
97s
35
2,300
3%
11%
7%
37%
IU4
July 29
Apr 30
Jan 3
Apr 28
Apr 30
74
14%
39ig
912
5%
912
2484
2634
7234
11%
Deo
8%
36% May
12i2 Sept
1225s June
3334 Feb 10
74
July 21
14%
11
Feb 24
9
5,100
37
Feb 24
129
2434May
2
3838
18
10
Starrett Co (The) L S__No par
82
8534 July 31
143s Apr 19
1207g Jan
700
*2%
70% Nov
107
313s Apr 13
23,200
31%
7%
2134 Apr 27
30
*1%
7%
108% Aug 17
63%
31
14%
13
12
Apr
Dec
Nov
714
8i2
3314
43%
101«4
Mar 19
2
7
Mar
70
32
7%
Mar
99
73%
3%
1134
4934
18%
1134
29% July 27
63
29%
*81
24is Aug
•
31
3684 Jan 25
5334 Mar 20
61%
"
59i2 Apr
3'g Mar
3U June
6
2
14%
Nov
25% Dec
16ij Jan
42
5Us Jan
32
14i4
7%
714
Deo
27
Feb
22
Standard Oil of New Jersey.25
Swift & Co
7k
152
Aug 13
984 Mar
18
Aug 20
83
July 31
25
4,100
*7
283# May
Feb
5i2 July
3284 Jan
21%
14i8
Oot
1234 Mar
Aug
10
21%
734
112
105s Mar
42% Aug
25
21%
14i2
7%
23
Standard Oil of Kansas
2134
32%
7
Jan
Standard Oil of Indiana
Sweets Co of Amer
73s
20
26
*23
Sutherland Paper Co
14
Jan
132
32% July 28
433a Aug 10
Jan
$7 cum prior pref
No par
2
Feb 26
Stand Investing Corp..No par
Standard Oil Export pref. .100 xl09%June
8
1,300
'
,
..1
No par
No par
3,700
2
107i2
Mar 26
160
44
30
18%
18%
*35
312
800
Comm Tobacco
Preferred
10%
2
2312 Jan
2
1234 Apr 27
64
*48
*44
1058
t Stand.Gas & El Co
16
101fi
109%
Stand
5,500
10,000
11%
7
34%
10
1038
1,300
7%
1734
1—1 O r?
10%
11
*1258
No par
1434
1458
7%
714
3834
3758
11%
*109
.No par
Preferred
34
*1412
*714
1358
Standard Brands
10%
2134
2
19
30
16%
32
1338
35,200
35
2
19
900
9%
32
934
7
Splegel-May-Stern Co..No par
6H% preferred
100
Square D Co
.No par
1534
2
1978
100
35
32
64%
13%
3,100
9%
3334
1714
128
900
230
1534
2
10434
*126
28,200
34%
32
17
200
9%
2i4
*104
32
15%
3312
6
32
34%
*17s
6
60
912
3U2
934
83
15%
21%
38%
3758
/ 17%
*79%
2,900
3378
21%
7
8,600
18
9i8
2112
1
78
15
2U2
July
7i2 Feb 29
3484 Mar
Dec
Nov
1534 May
112
3378
2114
114
30
12
9
2158
4
Apr
63%June
1538
21%
1058 Aug
101% Mar 18
534 Apr 30
678 Jan
4
73%June 10
2934May
1
1578 Apr 30
1338 Jan
2
190
34
834
15U
Dec
Nov
320
66
14l2
9
Mar
4638 Nov
215s
Preferred
34
1438
34%
*33%
*834
4
4i8
81%
120
3634
36l2
36%
4
4i8
4%
1138
18%
19%
11%
18%
83
187s
193g
1834
50
*48
24
Jan 31
3384 Dec
884 Nov
26
*11%
18
Aug 14
72
Dec
Dec
Mar
37%
3%
*48
105
20i2
II6I4
65i2
70i2
68i2
July
37
*23
11%
18
Mar
July
3634
73%
4934
13
7
36
11%
18
Jan
Apr 17
Apr
5
1,000
73%
*2%
*48
Jan
60
75
1938
2012 Deo
1884 Jan
1134 Feb
5,800
74i8
18
Oct
8
45
7258
4934
Mar
434
6i2
Dec
Nov
684 July
49%
3%
7238
18
6
111
Spalding (A G) & Bros .No par
1st preferred
100
Spang Chalfant & Co Ino pflOO
Sparks Withington
No par
Spear & Co
1
$5.50 preferred
No par
Spencer Kellogg & Sons No par
Sperry Corp (The) v t c
1
Spicer Mfg Co
.—No par
Conv preferred A
No par
7%
63%
*29%
73%
*2%
*48
July 24
July
16i2 Dec
400
*3
64
1U2
5i2 Mar
6318 Mar
83s Feb
584 Nov
8%
66%
*8
48
30
11%
50
34U
Dec
15
45
63%
1U2
124
4
Aug
3
30
1178
314 Mar
40i2 Nov
295s
July 12
Jan
Mar
55
51%
63%
*11%
9
3
45
30
3
3
32
21
3
63
1112
Dee
Mar
127g Deo
25*4 Nov
Jan
50%
30
3
Nov
17
Jan
45
6378
*7212
70
714 Mar
4
20
697g Nov
4% Nov
7% Mar
6
Jan
Dec
4
Feb
Feb
3
3678 Dec
47g Jan
7
17
25
Jan
Nov
1% Deo
1634 Apr
28t2 Jan
Mar
91
25% Aug
12i2May 20
3% July 29
26
Apr 27
4% Nov
20%
19
16%
30
3%
Mar
1% May
Apr
40
40%June 30
22 June 20
110
Dec
34
18
6238
*3
31
5
Jan 16
3134Mar 30
Apr 11
July 16
657g Jan
2
13%
56I4 Nov
Mobile & Ohio stk tr ctfs 100
127
4
30
338
4% Feb
73
132
Mar
55
150
100
11%
37%
Jan 17
634 Jan 15
25
100
11%
7%
17%
26
4i2 Feb 7
435s Mar 12
7
Jan
14 June
58 Aug
2034 Mar
27g Oct
7
1412 Jan 25
3878 Aug 13
100
Southern Railway
51%
37%
Sugar...No par
Southern Pacific Co
45
*23
preferred
100
(A O) Corp
No pa
Snider Packing Corp...No par
Socony Vacuum Oil Co Inc..15
Solvay Am Invt Tr pref... 100
Southern Calif Edison
17%
3734
2
Jan
11314 June
114i2 June
100
21%
20%
21%
27
27
26%
51%
51%
51%
51%
79
77
82%
80% 82
*106% 109
109
*106% 109
28
28%
27%
28%
28%
15%
14%
15%
15%
15%
3%
IS4 Feb
I84 Apr
Apr
1978 July 25
7%
Preferred...
8
55
1434 Apr 30
Smith
So Porto Rico
7
7
Mar 31
76
60
6,900
33,600
52
*48
27
7258
*3
7,700
20%
64
7214
32%
414 Feb
20i2 Feb
34
South Am Gold & Platinum..1
55,200
Jan
Mar
46
100
8%
65%
7
31
6338
*30
1,700
6
22
Oct
Jan
7
30% Apr
112
23i2 Nov
Feb 29
par
25
Jan
Mar
10134 Mar
Jan
100
Sloss-Sheff Steel & Iron...100
14
109
97i8May 29
878 July 15
July
1934 Jan
x3%June
19% Jan
Petroleum
Jan 20
89
...No par
10
Simmons Co...
Apr
12
43 >8
110i2 Jan
834 July
Nov
3158 Dec
10434 Mar
8
par
Conv
3
6
85% Aug 10
434 Jan
Dec
84 June
Apr
114i2Mar 11
1638 Jan 13
52
Dec
2
*107% 111
7%
6%
7%
2734
52%
36%
3758
363g
*23
2,100
29,400
5%
111
21%
*3
3
3
3
3
3%
310
28,200
16,200
3234
49
60
39
*32
503g
4978
par
Preferred
21
*79%
7%
par
Skelly Oil Co
41
53
127
par
35% Jan
10
2534
1
59^8 Jan 21
234May 25
6D4May 13
15% Jan 7
11% Jan
2034 Jan
preferred
100
Silver King Coalition Mines.5
.
2,200
19%
79%
127
par
No par
Shell Union Oil
2,100
114
31%
1
No
No
$5 conv pref
No
Sharpe & Dohme
No
Conv preferred ser A.No
Sheaffer (W A) Pen Co-No
(F G)
Sharon Steel Corp
Shattuck
5312 Jan 6
% Jan 2
2
Apr 23
4
312 July 24
1
Servel Ino
8
3034June
No par
Preferred
Simms
153
"31%
83
44l2
73g
1734
31%
*
18
11%
7U
7i2
18
*43
*3
2,700
19,500
37%
17%
11%
7%
17%
44%
1138
113s
11%
7U
17
1734
700
39
33
127
127
127
17i8
4414
17i2
8,000
21%
40%
38%
65%
7%
*32
523s
1138
738
100
56
5%
100
Sears, Roebuck & Co.-No par
Second Natl Investors
1
520
1,200
3,900
42%
40%
2034
111
17%
1634
79%
793s
8012
81%
8134
7938
*106%
108l2 108i2 *106i2 109
28%
2814
2834
28k
2834
15U
15i2
15%
1558
1514
1138
*1U4
7U
82
28
52
*126i8 127
*126% 127
82
21%
*27
7
714
16%
-
33
21
2U4
111
*112
32
*8%
69
111
*32
»-
•*32
*8%
*66
153
"31%
*48
9
69
7*8.
16%
16
1534
55
115
687S
7%
7i8
16
2134
40%
2034
9
*111
115
*111
7i8
7is
16
400
6,400
33%
32%
32%
42%
*50
55
878
9%
9
10
69
115
11,600
June
3778 July 15
97% Feb
1
l%May 26
7%June 4
1
100
Preferred
11
Apr
10U Mar
4
4
July 21
July 27
113
5
110% June 30
100
Preferred
700 Seagrave Corp—
7%
5%
*
L53
"3l%
32i4
*111
1,100
6%
114
§ 5
108
3,700 Seaboard Oil Co of Del-JVo par
9234
56
100
.100
-—No par
No par
2,600 t Seaboard Air Line
13,300
22%
-No par
190 Scott Paper Co
24%
1434
23%
9234
14%
Jan 24
July 29
600
preferred
2,400 Schulte Retail Stores
100
33
18
preferred
7%
14
27
Aug
3
10i2 Feb 19
63gMar
7% Jan
600 Savage Arms Corp
No par
5
18,600 Schenley Distillers Corp
24
58
*112
4%
33%
3234
33i8
3178
33i8
152
114
4%
438
414
4%
*
153
150
11758 Feb 19
3% Mar
U2 Jan
2% Jan
100
Preferred
2,600 Safeway Stores..
60
6% preferred
67
31
*112
114
*112
114
4i8
32i2
414
*
14%
14i8
*112
114
*4
23%
2314
14i2
143S
*112
45
*43
45
.*2214
10
25
127
*121
127%
127i2 *121
127% *121
66
*61
66
*61
63
*63
6334
6334
103
102
101
102
102% 102% *101 * 103
45
47
45
48
47%
44%
42% 45
23
22
23
23
22%
22%
2378
23%
14
xl4
14
13%
14%
1334
13%
1414
63
63
67
*63
Lead
10
700 t St Louis-San Francisco.>100
1st preferred
100
6,600
30 t St Louis Southwestern—100
Highest
$ per share $ per share
102
Deo
82
Nov
2934 Feb 28
July
22
5,000 St Joseph
Lowest
Highest
$ per share
74*4 Apr 28
5%June
300 Ruber'dCo(The)cap stkNo par
100
200 Rutland RR 7% pref
127% *122
127i2 *123
*121
Lowest
67%
1434
24%
9334
7%
Lots
$ per share
Par
67
.
3634
82
61%
%
2%
*31%
32i2
18i2
*31%
1858
*31i2
1838
31i2
18%
"
1%
10%
32%
31%
31%
18
18%
1834
18%
18%
1834
123
al2D2 121i2 *120i2 12178 a 121% 121% *120% 121% *120% 121%
9%
10
934
934
9%
934
978
97g
9%
934
978
37
35
37%
3758
3634
3634
3634
37%
3634 38%
37l2
4%
4%
4%
4%
4i8
*4%
4%
414
/ 4%
4i8
414
27
27
2634
27%
2634
*26% 27%
26%
27
*2634 27%
3U2
*900
98%
1%
*9%
1
32
56
56
98%
1%
10%
62%
1%
10%
67%
25%
24%
1434
1434
2334 123%
9334 h*9234
7% f 7%
23
9334
*54
738
*54
1438
*9214
7k
9334
7
7i2
99
68
68
11134 H2%
13
3%
*14%
2934
109
42%
82%
x24%
109
13
3%
2434
"29"
41
5%
6812
35
13
8334
23
2434
2%
4%
11%
4334
5%
68%
2412
1438
68i2
24i2
14i8
*2314
*9214
*714
24%
13
8134
*3%
312
6
42%
514
*3%
3%
11
*
29%
28%
110% 110%
11134 11134
823g
*5i8
81
83
8178
3i2
82i4
*338
68l2
158
33
2%
4%
5
11
12i2
2%
5i8
5
*26
4314
3334
2%
5
85
*434
24
25%
2%
12
10i2
78
23g
3334
2%
24%
*2%
434
31
13I2
1
25
85
6
*27
4314
9834
*98i2
15s
*958
6D4
25%
2534
238
Friday
87
*5%
*10
111
111
11134
*12i8
4258
*85
6
6
1234
28
2914
28l2 2858
11112
111% *110
*28%
*110
Shares
On Basis of 100-share
Week
$ per share
28
*10
1234
31
Aug. 21
$ per share
6
434
5%
4i2
8912
25i2
*2i4
25i8
2434
214
238
*10
*85
60
*514
6i8
*
88i2
*85
89
*434
2458
*2i8
*438
NEW YORK STOCK
EXCHANGE
$ per share
90
89
Aug. 18
$ per share
$ per share
STOCKS
the
Thursday
Aug. 20
Range for Previous
Year 1935
Range Since Jan. 1
Sales
Wednesday
Aug. 19
Tuesday
Monday
NOT PER CENT
SHARE,
SALE PRICES—PER
HIGH
AND
Saturday
Aug. 15
*85
Aug. 22, 1936
New York Stock Record—Continued—Page 9
1190
par
ioo
...
No par
Under Elliott Fisher Co No par
Preferred
...100
Union Bag A Pap Com-No par
51
7% Jan
Jan
3
6
12
109% Aug 12
714 Aug 17
1078 Feb 18
478 Jan 6
7% Apr 30
22%June 1
313s Apr 27
834May 20
65U Jan 22
278June 30
74%June 29
99
12512 Apr 23
133
38%May 21
5i8
Jan
Dec
Deo
7% Mar
1578
Deo
84
26'4
45s
283s
47g
Jan
Mar
Mar
104it Nov
48
Deo
Mar
1318 Deo
72i2 Nov
Mar
14
Dec
714 Mar
15U Nov
5ig Mar
16
17g Mar
69
35s
97 ig Nov
Oct
67g May
814 Nov
247g Deo
3i2 Mar
Aug
41
Mar
2
245s
15
July 30
Oct
2% June
18
Deo
8I4 Nov
Apr
13
Mar
li8 June
5384 Mar
ll
125
Dec
5234 Feb 19
29
May
Jan
5
28
2
Jan 13
2634 Nov
15s Mar
Apr
323s Mar
91i2July 29
85s Jan 20
878 Nov
33i2 Dec
125s Nov
73
Deo
5ig Nov
8714 Deo
133
Apr
50i2 Jan
Volume
LOW
AND
New York Stock
143
HIGH
SALE
PRICES—PER
Record—Concluded—Page
10
1191
Monday
$ ver share
97*4
$ per share
22
97%
2178
138
97%
*2514
25%
18%
*19%
5 per share
9678
2184
14234
*96%
Wednesday
Aug. 17
97%
22
141
26%
25%
97
18%
138
9678
23
97%
27%
25%
19%
*19
22%
*27
27
27
*27
27%
*113% 114% *113% 11478 *113% 1147g
84%
84%
833„ 833s
*82%
83%
28
28
*28
28
28
2878
8
8
7%
8
8%
7%
48
48
47% 48
47%
47%
14%
14%
1438
14%
1438
14%
28
28%
27% 28
26%
27%
*103
105
*103% 105
103% 10
*5%
5%
53g
5%
5%
5%
39% 39% *39
39%
39% 39%
81
81% 82
81%
80%
81
167g
16%
16%
1678
16%
1634
111% 111%
*111% lllSg *111% 111%
1U%
10%
*9%
10%
1734
*95%
*2%
*13%
*2738
1734
18%
*9634
98
3%
14%
10
18%
*2%
*13%
$ per share
95
97
$ per share
Shares
97
21%
97
*97
97%
*97
97%
16%
16%
18%
96%
1634
111% 111%
10%
18%
1,600
18
96
2,300
•
15
50%
36
5%
*87
6
6
6
11%
10
11
11
*87
90
*71
2934
29%
72
66%
6
9%
29%
74%
76%
*534
20,200
800
1,400
2,600
200
210
1,600
1,600
10
28,900
U S Pipe & Foundry
U S Realty & Impt
30%
28
29%
16,300
U S Rubber
No par
75
70%
73
79
77
78i2
1st preferred..
10,100
3,400 U S Smelting Ref & Min
77
72
66%
*71
66%
6%
6%
*87
6%
90
♦71
75
162
72
6634
.
68%
72
72
64%
6634
*165
6%
6%
6%
*85
90
*85
90
*71%
75
*73
75
*75
7734
16334
16334 16334 *160
101%
101% 102
6
6%
90
*85
71%
163% *160
103
103%
101
-
-
No par
4,200
100
3,300
"460
75
60
163%
110
101
100
United Stores class A
4%
1%
1%
35%
*3284
23%
4%
24%
*43
44
*115
117
43%
*79%
434
4%
4%
434
1%
1%
1%
1%
1%
35%
33%
2334
34%
*3234
3438
24%
2334
43%
43%
117
4334
84
*434
*31%
33
*32
*113%
114
111
5%
*434
5%
434
44.
478
*4%
84
434
4%
*32
3334
114
44
*79%
Universal Leaf Tob
5
434
32%
*113% 114
5
4%
*4%
5%
30%
34%
113i2 113%
5
*4%
5
32%
150
300
50
800
1,900
80
•
1%
40%
*8184
*7
7%
7
7%
*80
*80
1%
1%
1%
*1
1%
40%
40%
40%
41
4134
83
*8134
83
7
*1
41%
83
*8134
*99% 104
*634
7%
*80
1%
42
*1
4134
600
2,700
13,600
2,200
48,100
100
1,600
5,200
82
105
100
100
99%
99% *100' 101%
122% 122%
122% 122% *122%
*115
*114%
100
100
*115
*114%
9%
*16%
«.
9%
9%
-
-
9%
100
9%
9%
*8134
100
100
90
30
30
9%
9%
9%
938
2,100
*17%
1834
400
2%
17%
2%
17%
2%
2%
300
6
534
534
534
87
88
88
88
87%
8734
8834
8834
87%
87%
43
42%
42%
42%
43%
43%
42% 43
42%
43%
138
140% 140%
138% 14134
138% 140
140
13834 140%
*143
*142%
*142% 149
*142%
*142%
*25
*25
*25
26
26%
26%
*24% 25
*24% 25%
*37
*37%
38%
37%
37%
38%
*37%
38%
*37%
38%
26
27% 2734
27%
26%
27%
27%
26%
2534 26
84%
40%
6
*2%
*17
18%
2%
6
6
18
18
*2%
2%
*2%
*6
6%
534
.
•_
*65
80
*65
28
28
*93
95
21%
*14%
21%
*3%
*19
*3%
8%
*76
5434
80
27%
139%
14,600
20
25
*37%
38%
25
*66
80
*66
80
*66
""16
*101
105
*101
105
28
28
2,500
80
100
2734
28
27%
28%
100
Preferred B.._
100
Waldorf System
preferred
6)4%
100
Co
No par
Preferred
par
No par
^7ard Baking class A
B_
No par
..No par
Preferred
100
Class
Warner Bros Pictures
$3.85 conv pref
f Warner
5
No par
Quinlan
No par
Warren Bros
No par
Convertible
pref
Webster Eisenlohr
15% Jan
No par
21
5
6% preferred...
preferred.
2d
Maryland
preferred
Western Pacific
Preferred...
1
100
100
28
92
2034
8,100
14%
14%
14%
*14%
14%
*14%
14%
14%
14%
14%
14%
700
White Rk Min Spr ctf..No par
3%
*3%
334
3%
3%
*3%
3%
700
White Sewing Mach...No par
19%
19%
19%
19%
3%
3%
*3%
334
3%
*19%
3%
8%
•
19
3%
8%
77%
55
54%
2978
75%
74
19
3%
8
8%
78
77%
78
54
5484
8%
77%
54%
77%
54%
30%
2934
2934
30%
30%
*75%
53%
2934
74
74%
73
76%
76%
77
66
66
66
66
66
89
91
91%
92
64%
3934
66
*6534
89
89
*86
90
65
64%
*40%
19%
136
46%
77
65%
64%
6434
65%
91%
z64%
42
40
40%
39%
19%
19%
19%
136
*134
47
75%
7634
*119% 121
*119% 121
36
3534
35%
34%
*4534
136
193g
*131
47
_
7'8.
7%
1934
135
46%
50
500
Conv preferred
No par
3%
1,100
Wilcox Oil & Gas
5
778
7,200
Wilson & Co Inc
No par
54%
53
543g
30
28%
73%
29
900
76%
620
65%
92%
65%
1,000
93
99
1,010
64%
64%
63
64
3,200
39%
19%
40
393g
40%
1,100
193g
17,000
19%
100
Motor
3-%
76
133
Preferred
White
19%
3%
8%
77%
133
Wheeling Steel Corp...No par
3-%
734
18%
132
76
135
1,300
10,200
140
1,600
27,600
100
11,700
'
For footnotes see page 1182.
8%
100
19%
47
47%
47
47%
78
76%
76
77%
79%
7934
79%
78%
120
120
*119% 121
*119% 121
*119% 121
36
34%
35%
3434
35%
36%
34%
36%
7
7
7
7
7%
7%
7
634
46%
"
7%
3%
55%
74%
66%
42
*40%
19%
19%
137% 137%
*4038
48%
8
3%
21
78% July 29
165
Aug
115
Apr 7
Mar 24
Mar 23
6
Mar 2
Jan 18
Jan 18
27% Feb 19
45
July 23
116
Aug 8
48% July 21
80
Aug 20
838Mar 16
4834Mar 19
133%May 27
114%May 15
9% Feb 8
Mar
3% July
Dec
Dec
Dec
7%
Jan
9284 May
60%
Oct
9%
87%
2%
4%
65%
%
Mar
June
5
July
3%
20%
Oct
11
Mar
39%
Deo
18% Nov
Mar
Jan
Mar
110
15
Nov
Mar
96
NOV
11%
Nov
Dec
Oct
87
Nov
165
4% Mar
Dec
143
Jan
5
Feb
10% Nov
35% Mar
3% Mar
7% Mar
50% Nov
9% Sept
16% Sept
73
Sept
53
Jan
1434 Mar
3
22%
Mar
62%
Jan
27% Mar
73% Mar
119% Jan
14934 Feb
3% Apr
46.
Apr
51
Deo
11% Deo
17%
Jan
48
9% Mar
24% Mar
9184 Dec
Deo
124% Apr
*
7384 July
50% Nov
119% Nov
14034 May
165
7%
78
Aug
Jan
Oct
Mar
73% Nov
133% Feb x!59% Dec
29
73
Nov
Aug
h Oct
2% Jan
19% Mar
9% Oct
1
Mar
4% Aug
% Mar
19% Apr
11% Apr
11% Feb
91
Feb
34
May
63
Dec
2% Mar
17% June
85
Jan
72%
Jan
2
Nov
56% Nov
2134 Jan
33
Nov
114
Nov
44%
63
4%
37
Dec
Deo
Dec
Dec
120% Oct
112% Dec
734 Nov
2
June
15
2,900
$6
preferred
Woolworth
(F W) Co
86
Feb
33
63% Mar
109% Feb
1
Apr
134 Mar
83
Feb 19
13 7% June 10
4% Feb
10% Mar
734 Mar
16% July 21
34%June 24
118
Jan 16
10
Feb 28
JL9
79
June 25
14% Feb 19
57% Feb 8
2% Feb 29
10% Mar 31
26
Aug 14
28% July 24
.
234 Jan 13
46% Jan 2
83% Aug 11
Mar 23
12% Feb 21
2034 Feb 24
4
Feb
7
978 Feb
7
95
Feb 13
48% Mar 3
147
Aug 10
150% Aug 10
3384 Jan 25
39
Jan
3
80
June 24
100
21% July
1
84
8
July
18% Feb 3
13% July 7
3% Apr 28
16
Apr 28
2% Jan 7
6%June 19
June 20
Jan
4
37% Jan 10
109% Feb 19
28% Mar 4
17
Mar
6
5% Jan 13
24% Jan 10
6% Mar 30
Jan
Jan
72
Jan
34
Mar
39% Mar
17
32
30%
Dec
Jan
Aug
Sept
Dec
784 Nov
90
Feb
3
Nov
55% Nov
84% Oct
91% Dec
99% Nov
36
Mar
104%
Jan
95
Jan
120% Dec
11434 Dec
Mar
Mar
10% Deo
1984 Deo
5%
7%
1%
2%
20%
July
18
Mar
Feb
Mar
32% Mar
90
Feb
10
Mar
29
Jan
79
Feb 10
Jan 23
3
6
145
105
21% Aug
55
Jan
6
11% Jan 28
5% July
Jan
1
Mar
51
45
6
6
56% Feb 5
35% Mar 23
78% Aug 13
68% Aug 13
Apr 28
Jan
12% Oot
1% Mar
58
33%
8%
83%
42%
41%
Jan
6% Mar
Jan 15
Yale & Towne Mfg Co
25
Yellow Truck & Coach cl B.10
July
Jan
Jan
14% Mar
46% Jan
Jan 14
Mar 11
1
Aug
Dec
1
11
106
No par
Mar
Mar
30%
87
62% Jan 6
63
Aug 21
Corp
Corp
2%
7%
20%
25%
1%
6%
92
3%
7%
Nov
Jan
Jan
77% Nov
3584 Deo
9834 Nov
126
33%
Deo
Dec
38% Deo
25% Nov
35% Sept
Aug 19
47
Zonite Products
Dec
18
Jan 14
100
Zenith Radio
Deo
52
% Mar
1684 Mar
July 21
Preferred B
^...100
10%
14% Mar
July 29
Wright Aeronautical...No par
Wrigley (Wm) Jr (Del) .No par
preferred
Deo
32
99
44% Apr 23
23% Apr30
66
Apr 30
5)4%
Deo
47
Apr
34
.10
100
Deo
3
Jan
2% Mar
Mar
July 24
100
Preferred
11
Feb
4
101
70
Young Spring & Wire..No par
Youngstown S & T__._No par
Mar
85
116
36% Jan 14
19%June 29
Apr
638 Nov
5
6
122%June 30
8
33% Deo
120
1%
28%
2
6
22%June
Jan
Feb
June 23
6
2
1%
11% Feb
Jan
Jan
114
29% Jan
85
Jan
5%
May
Feb 25
24% Aug 17
4% Aug 17
Feb 20
72%May 4
34% Jan 13
94% Jan 6
123% Jan 7
1
4% Mar
26% June
May
11784 Deo
3% Nov
534 Dec
4% Dec
9% Nov
x36% Aug 20
Apr 21
Apr 27
Apr 30
Apr 25
Nov
Aug
July 24
100
100
129
110
Preferred A
Worthlngton P&M
30% Feb
106
2
1934
3%
8%
7734
Aug 12
2
15
92
22
7% Mar 26
7
100
28
1,300
Feb 25
" Jan
87
116%
111%
8%
No par
5)4% conv preferred
Aug 21
78
100
Wheeling & L Erie Ry Co-.100
10
I
Apr 15
8084 Apr 9
96% Jan 24
75% Apr 9
7238 Apr 9
96
100
92
*91
35
91% Jan
100
21%
92
-
100
2034
*91
1
lOOf
Westvaco Chlor Prod..No par
7
Apr
33%June 30
Western Union Telegraph. 100
Westingh'se Air Brake.No par
Westinghouse El & Mfg
50
1st preferred.
50
Class A
2
83
100
West Penn Power pref
8
6%June 9
May 26
100
Preferred
Western
4
30
19% Apr 28
..No par
Wells Fargo & Co
6%
Jan
No par
Warren Fdy & Pipe
Waukesha Motor Co
213S
95
6
Jan 23
4%June29
9% Jan
30
Apr 30
115
Aug 17
5% Jan 3
26% Apr 17
17% Apr 17
10% Jan 4
2% Apr 29
47% Jan 2
9% Apr 30
44
Apr 29
%June 18
4% Jan 2
No par
Co
20%
*90
Aug
Mar 24
Aug
5
No par
Walgreen
21%
95
7
122% Aug 14
2% Aug 21
100
Preferred A
Weston Elec Instrum't.No par
25
Jan
May
70
100
t Wabash
21
30%
*7%
8,500
100
28
65
_
132
43
80
*65
100
2134
75
76%
1,300
8,500
149% 150
6
Apr 27
14
*
*24%
May
100 xll4% Jan 16
Detinning
21
*90
*30
65
_
534
87
*99% 105
*9914 105
*99% 105
_
7
Apr 30
4
100
West Penn El class A__No par
70
2%
*17
18%
2%
6
100
100
934
18%
*2%
Jan
4%
28%
105
109
100
No par
Virginia Iron Coal & Coke.100
100
83
*99% 105
107% 107%
*122%
*115
Mar 23
16% Apr 30
28% Jan 16
Wesson Oil & Snowdrift No par
Conv preferred
No par
11434 115
122% 122% *122%
-
9%
100
107%
6
4
89
72
Preferred
"""180
82
83
100
41%
105
*8134
4,700
7
~Y~
*107
*107
500
1
108
108
6,100
2,100
39%
106
105
108
15
18
24
15
2
27
28
21
Aug 12
40
Walk(H)Good & W Ltd No
42%
*107
104
108
23
2
July 10
_100 xllO% Feb 17
19,000
"l%
*105
105
Jan
50
t Walworth
*80
108
105
108
*6%
13
July
16,500
'
*7
5
Jan 23
June
Preferred
600
.
*80
5
19% Jan
39% Jan
110% Feb
169% Feb
16% July
50% Aug
59
Apr
9% Jan
18% Jan
90% Aug
55% Aug
1
Vulcan
.
7%
Mar
30
1
5% preferred
Virginia Ry Co pref
,
*7
Jan
99
100
preferred..
preferred
Nov
1
25
20
*16
*14%
20
*18.
*14
20
*15
21
*15
21
*130% 133% *130% 133% *130
133% *130
132% *130
132% *130
132%
74
*70'8
*7078
73%
*70%
73%
*70%
73%
*70%
73%
*70%
73%
*122% 125
*122% 125
*122% 125
*122% 125
*122% 125
*122% 125
*2%
*21"
*2%
2%
2%
*2%
234
234
*2%
234
2%
2%
7
7
*6%
*7
734
7
7
7%
7%
*7%
6%
678
5
5
*4%
*4%
5
*4%
5
5%
*4%
5%
*4%
5%
15
*14%
1478
15
147„
15
*14%
1434
1434
1434
14%
1478
34
34
33%
3334
34%
34%
3334
3334
3334
3334
33%
3334
*115
115
115
115
116
11534
*115
116
116
116
*115% 116
8
8
8
8
734
8%
838
8%
7%
8%
7%
778
35
34%
35%
36%
35% 36%
36.% a;35%
36%
36%
3334
35%
18%
18%
*18%
18%
18%
18%
I884
1834
*18%
18%
18%
18%
23
*22% .23
22
23
22
24%
22%
23%
*21%
21%
22%
378
3%
4
4
37S
4%
4
3%
4%
3%
4%
4%
*76
78
77
79
74
78%
78%
78%
*77% 78
77%
77%
12%
12%
12%
1234
12%
1234
12%
12%
12%
12%
1134
12%
56
*52
56
*54%
56
56
5334
5334
*52
*52%
56
*52%
%
%
%
%
%
%
%
♦34
%
%
34
%
9
9%
9%
9%
9
9%
9%
834
834
834
8%
8%
24
24
*23%
25%
*23
22
24%
*2334
*22%
24%
23
24%
*25
*25
*25%
26
27
26%
28
26%
26%
27
27%
27%
*21
22
22
*21%
22
20%
21
21%
2034
21%
20%
2234
*80
8
% Aug
Va El & Pow $6 pref
30
Jan
Feb 17
July 30
5
6%
7%
6
20
8
9
7
144
Vicks Shr & Pac Ry Co comlOO
Va-Carollna Chem
No par
5,000
112% 112%
5
*4%
8
1938 Jan
113% July
12% Feb
No par
7% 1st pref
2,600
5%
31%
May
7% Apr 1
Aug 19
85% Aug 8
3%
2234
6%
2%
Vick Chemical Co
10
9
13% Apr
3% Jan
Vanadium Corp of Am.No par
Van Raalte Co Inc.
5
10
Jan
50
100
Preferred
Deo
Nov
40
168
Universal Pictures 1st pref. 100
t Universal Pipe & Rad
1
Utilities Pow & Light A
1,900
4
Apr 29
153
2,500 Vadsco Sales
31,800
1,300
Jan
2
June
134
100
7,200
16% Feb 4
29% Aug 10
105
67%May
57% Apr 29
No par
1%
117
115% Jan
Apr 27
160% Feb
5
Apr 30
No par
4%
150
434
*31%
33
4%
4%
1%
3234
3234
*113% 114
5%
1%
34%
24%
23%
22%
23%
44
43
43
4334
4334
41%
113% 113% *113% 116
*113% 116
44
44
44
43% 44
43%
84
80
80
84
*79%
*79%
43
*42%
*113% 117
44
*79%
84
4%
1%
*3234
2434
2434
*115
4334
*434
4%
1%
*3234
23%
Jan
131
No par
Preferred
4%
2
68% Jan
.No par
100
Preferred
July 10
46% Jan 21
Preferred class A
90
96
9
72% July 30
60
Preferred
65
Jan
Jan 15
47
50
Preferred
24%
734
4534
1384
20%
21% Jan 6
7% Apr 30
16% Jan
100
U S Tobacco..
17% Oct
1% Feb
2034 Mar
S84 June
4% Mar
71
20
Preferred
-
6%
100
U S Steel Corp
81,700
13334
*13734 142
*165
t c
Prior preferred v t c
400
*13734 142
6%
800
133
132% 133%
*13734 142
*86
162% *161
101
103%
*97
*71
72
68%
133
52%
*165
*165
«...
90
132
1034
30%
v
29% Apr 13
9% Feb 17
48% Aug 4
8% Jan
49
Aug 18
31% July 29
5% Aug 12
10
Aug 17
No par
75%
*73% 75
*162% 165
104
11,800
10
79
*165
*87
90%
49%
9%
90%
5234
1034
74%
132
6%
90
51%
7734
*13734,142
....
89
Class A
Jan
Aug
2
U S industrial Alcohol.No par
U S Leather v t c
No par
89
4,400
Nov
26%
Nov
160
534
20
Mar
20% May
78
10
5
50
1134
7434
*165
conv pref
1384 Dec
Mar
Jan
91
100
5%
78%
72
Sy2 %
Oct
Mar
46
24%June
80%May
12%
7*
66
preferred
Dec
Jan
90% July
26% July
3038 Dec
85% Aug 14
6% Apr 30
13
Apr 30
No par
i.lOO
534
78
72
2,400
1,300
5%
12%
7%
7
24
111%
Jan 21
14% Apr 30
...No par
20
U S Hoffman Mach Corp
31% Feb
323g Feb 18
21% Apr 4
2884 Mar 6
28% Jan 6
7534 Nov
Feb
Mar
Mar
118
109
No par
100
11%
89%
51%
10%
29%
73%
67%
200
June 10
Jan
1434
82%
79%
20%
9%
4%
Oct
66% Jan
100
11
75
65%
2,100
100
44
111
32%June 18
No par
Preferred..
U S Freight
U S Gypsum
100
Aug
28% Feb
14934 Aug 12
Jan 11
4
..No par
U S & Foreign Secur
Preferred
U S Distrlb Corp
2
15
1
Paperboard
Jan 2
Apr 30
93
No par
50%
10%
29%
13334
131% 132
*13734 142
*13734 142
6%
5%
-
t United
Jan
Highest
K per share $ per share
"
No par
United Gas Improve
Preferred
7
2
Jan
Jan
68
United Dyewood Corp
10
Preferred
......100
11
77
*71
67%
133
-
Year 1935
Lowest
22% Jan 6
5% Apr 30
40% Apr 29
10% Apr 27
No par
United Electric Coal
United Eng & Fdy
3
Jan
Apr 30
16% Apr 27
24% Mar 18
112% July 23
100
2,900 United Fruit
96
-
1134
89%
51%
10%
30%
50%
9%
30%
75%
7684
29%
7434
7634
87
50%
8%
52%
9%
9
87
52%
5134
-
30
5,500
3,300
.
-
15
50%
*3534
*534
11%
Preferred
United Carbon
13
6
United-Carr Fast Corp.No par
48,000 United Corp
,__No par
3,300
Preferred...
...No par
22,200 United Drug Inc
5
978
18%
96%
*96
9%
5
Transp Corp
400
16%
18%
18%
96%
16
No par
United Amer Bosch. ...No
par
United Biscuit
No par
'10
111% 111%
10
9%
100
Un Air Lines
$ per share
71%
20%
108%
90%
22%
20%
100
T266
-
9%
Union Carbide & Carb.iVo
par
25
Highest
$ per share
Par
11,900
.
16%
Lowest
2,200 Union Oil California
2,900 Union Pacific
800
Preferred
1,100 Union Tank Car
23,900 United Aircraft Corp
138% 139%
27
27%
28
27%
27% 27%
24
24%
25%
25%
25% 26
18%
19
17%
18%
18%
19%
*19% 22%
*19%
22%
*19%
22%
27
27%
27%
27%
26% 26%
114% 114% *113% 114% *113% 114%
82
82% 82%
82% 83%
82%
28%
*26%
26%
28%
28% 28%
7%
8
7%
7%
7%
8
47
47% 47%
46%
47
47%
14%
15%
14%
15%
14% 14%
*26
26%
*24% 26%
26%
26%
105
105
*104
107
*103% 105
6,
5%
6%
5%
6%
5%
39% 40
37%
39
39% 40
81
80%
80%
79%
80%
81%
11138-111%
18%
97%
3%
140
Range for Previous
EXCHANGE,
7,300
95%
21%
93%
21%
21%
140
27
*163
*92
Week
3%
*2%
*2%
3%
3%
*2%
3%
14%
13%
14%
14%
14%
13%
14%
1334
13%
28
28
28
27%
*27%
27%
27%
a;27% 28
101
102
101%
102
*102
101% 101%
102%
99% 102%
164% 164% *16334
*164
*164
*16334
*14%
14 38
1434
15
1434
15%
13%
14%
1434 "l434
49
49
*48% 50
*49
*49
50%
.50%
50% *49
36
35%
35% 3534
36%
3534
3534
35%
35%
35%
28
101% 101%
133
Aug. 20
Aug. 21
10
18%
*96%
*2%
98
Range Since Jan. 1
On Basis of 100-share Lots
the
96% 97
21% 22
138% 138%
22
139
18%
25%
18%
•
*19
STOCKS
NEW YORK STOCK
Friday
$ per share
*96%
25%
24%
27
CENT
NOT PER
Thursday
Aug. 19
97%
*21%
140
9678
*25%
24%
18%
23
27%
.
SHARE,
Tuesday
Aug. 18
Sales
for
Saturday
Aug. 15
Jan
II84 Mar
25% Mar
20
Apr
35% Mar
7334 Mar
1784 Apr
Nov
79
Nov
Nov
Dec
Jan
Dec
Deo
Deo
Nov
65% June
25% Nov
61
Nov
51% Nov
68
Deo
8234 Apr
35% Nov
9% Dec
4
2% June
July 29
31% May
96
18
Mar
53%
Dec
13,
Mar
4678
Deo
Apr
6
80% Aug 10
122
378 Apr
Apr
32%
102%
19%
24%
484
20%
3%
9%
7
38% Apr
39% July 31
1% May
2% June
Aug
93g Jan
4
105
Nov
Dec
1434 Nov
7% Deo
Bond Brokerage Service
Complete
RICHARD WHITNEY & CO.
Members
New
York
Stock
Members
New
York
Curb
15 BROAD
Telephone BOwllng-Green
Exchange
Exchange
NEW YORK
STREET,
A. T. & T. Teletype TWX, N. Y. 1-1793
9-4600
Weekly and Yearly
New York Stock Exchange- Bond Record, Friday,
1192
On Jan.
1,1909 the Exchange method of quoting bonds teas changed and prices are now "and interest"—except for income and
Aug.22.m6
defaulted bonds
the only transactions of the week, and when selling outside of the
No account Is taken of such sales in computing the range for the year.
NOTICE—Cash and deferred delivery sales are disregarded In the week's range, unless they are
regular weekly range are shown In a footnote In the week In
I
N.
Y.
STOCK
EXCHANGE
U.
Sale
Bid
Asked
High
No.
118.29
90
Low
O
1947-1952
1943-1945
1944-1954
1946-1956
1943-1947
A
1951-1955
15
15
15
Treasury 3%s
Mar 15
Treasury 3%s__.June 15
Treasury 3s.
Sept 15
Oct
Treasury 3%s__.Oct
Treasury 4s
Dec
tfc
118.20
Price
Government
S.
Treasury 4%s
M S
118.26
Low
Friday's
118.29
108.16
108.14
108.18
72
J
D
113.28
113.23
113.29
182
Ill
113.29
112.7
111.31
112.7
260
109
112.7
108.29
108.25
108.29
S
D
105..24 108.18
27
106 .17108.29
62
102 .20105.6
105.5
104.30
105.6
Treasury 3s.-
June 15 1946-1948 J
D
105.27
105.27
105.31
118
Treasury 3%s
June 15 1940-1943 J
D
108.10
108.7
108.10
17
107 .19109
109
108.28
109
15
108
106.22
106.22
106.29
35
103 .24106.29
102 .29105.31
15 1941-1943
15 1946-1949
Treasury 3%s.__Dec
15 1949-1952
Treasury 3lis
-.Aug
1 1941
Treasury 3%s
Apr
15 1944-1946
Treasury 2lis
Mar 15 1955-1960
Treasury 2%s.._Sept 15 1945-1947
Treasury 2%s_..Sept 15 1948-1951
Treasury 2%s
1951-1954
Federal Farm Mortgage Corp—
3%s
Mar 15 1944-1964
3s
May 15 1944-1949
3s
__Jan
15 1942-1947
M
S
J
D
J
D
106.12
106.19
35
103 .19106.19
F
A
109.2
108.27
109.3
59
108 .5
A
O
108.5
108.3
108.9
65
105 .12108.9
M
S
102.27
102.24
103,
M
S
104.7
104.4
104.8
S
102.13
102.9
D
101.21
101.21
J
J
104.8
104.4
104.8
Mar
1 1942-1947
Home Owners' Mtge Corp—
3s series A
May
1 1944-1952
M
S
102.27
102.27
102.27
M N
103.11
103.7
103.14
387
100.17103.14
1 1939-1949
1942-1944
F
101.26
101.22
101.27
118
101.22
101.28
49
99.17101.29
Bank 6%b—1947
♦Sinking fund 7s of 1926
1946
♦Sinking fund 7s of 1927
1947
Copenhagen (City) 5s
1952
25-year gold 4%s
1953
Cordoba (Prov) Argentina 7S--1942
Costa Rica (Republic of)—
♦7s Nov 1 1936 coupon on—1951
Cuba (Republic) 5s of 1904
1944
External 5s of 1914 ser A
1949
External loan 4%s
1949
Sinking fund 5%s—Jan 15 1953
♦Public wks 5%s
June 30 1945
Czechoslovakia (Rep of) 8s_.i_1951
Sinking fund 8s ser B
—1952
Denmark 20-year extl 6s
1942
External gold 5%8
1955
External g 4%s
Apr 15 1962
Deutsche Bk Am part ctf 6S-..1932
{♦Stamped extd to Sept 1 1935..
Dominican Rep Cust Ad 5%s_.1942
1st ser 5 %s of 1926
1940
2d series sink fund 5%a
1940
♦Dresden (City) external 7s..>1945
♦Colombia Mtge
Bid
<Sc
Low
O
A
D
"98"
M N
93%
J
No.
Low
17%
20%
20%
22
10
17%
20%
92% 100
88%
97
98
99%
29
93%
95
45
81%
81%
83
20
27%
J
High
17
....
20
20%
A
J
24
20
20
F
Since
High
*19%
M N
Range
Jan. 1
Asked
26%
100%
27%
100%
100
100
83
70%
7
23
34%
99% 103
1
99.16101.29
101.27
Price
21
Foreign Govt. & Mun. (Concl.)
High
115..3
O
J
Sale
Week Ended Aug.
Jan. 1
A
M
Week's
Range or
N. Y. STOCK EXCHANGE
Friday's
Since
Last
Range
tt s
stt,
21
Friday
Range or
BONDS
Week's
Last
ti
IsS
Week Ended Aug.
occur.
Friday
2
BONDS
which they
Mar
Treasury 3%s
Treasury 3%s___June
2 ^s
2%s series B__Aug
M
J
_
_
_
_
_
742
109.9
109.12
103
100
25
100 .31104.8
102.15
84
101 .7
101.25
532
102.15
100 .23101.25
S
104.21
104.14
104.21
52
102.20104.21
M N
103.19
1Q3.15 103.20
97
100.26103.20
101.20104.8
100.15102.27
M
A
37
6
ioo"
99%
1945
s f 7s series C
1945
s f 7s series D
1945
s f 7s 1st series—1957
sec s f 7s 2d series.1957
♦External s f 7s series B
♦External
♦External
J
♦External sec s f 7s 3d series. 1957 A
8%
1958 J D
Argentine Govt Pub Wks 6s—1960 A O
Argentine 6s of June 1925
1959 J D
8%
8%.
8%
10
98%
98%
10
"_7
99
17%
98
10
7%
95 % 101%
s
s
f 6s series A
1957 M
1956
1957
1945
1949
43
97 % 101%
101%
26
101
101%
29
97 % 101%
97 % 101 %
100%
1
48%
66%
72
A
O
70%
68%
46
61%
A
O
70
71%
71%
6
61%
71%
71%
22%
26
6
21%
30%
41%
70%
93
97%
M N
*48
J
1965
♦5%s unstamped
1965
♦German Rep extl 7s stamped. 1949
♦7s unstamped
1949
J
4
100',6 104%
23%
23%
162%
161%
23
170
170
160%
160%
D
J
100"32
10
18
27
149% 183
151
172%
167
190
166
*169
182%
German Govt International—
♦5%s of 1930 stamped
D
29%
35
20
29
60
29%
39%
30
12
25
34
40%
23
27%
45%
28%
25%
34%
28
27%
26%
28
35%
35
36
30
29
38%
AO
118
22%
28%
28%
German Prov & Communal Bks
♦(Cons Agrlc Loan) 6%s-...1958 J D
♦Greek Government s f ser 7s..1964 M N
♦7s part paid
♦Sink fund secured 6s
♦68 part
—1964
..1968
*25
A
27%
24%
26
37%
31%
25
*26%
25
.1968
paid
"33
30
F~
21%
28%
93%
99
26%
24%
100%
101%
17
97% 102
101
101%
24
101%
20
97% 101 %
97% 101%
Haiti (Republic) s f 6s ser
100%
101%
101%
109%
109%
103%
42
97% 101%
37
94% 101%
104% 109%
♦Heidelberg (German) extl. 7%s '50
Helsingfors (City) ext6%s
1960
*105%
106
104
Hungarian Cons Municipal Loan♦7%s unmatured.coup on...1945
19
19
17
30
♦7s unmatured coupon on...1946
20
20%
18%
32%
25%
100%
101
_
„
100%
_
108%
109%
108%
103
102%
95%
F
95%
*24%
M
7
1949
1949
105% 108%
100',6
D
2
100%
109%
M N
101%
2
107%
158 •
J
7s unstamped
96
107%
107%
M N
6%s...l953
stamped.1941
1941
68%
96
French Republic 7 %s
External 7s stamped
1
37
♦Frankfort (City of) s f
7%s unstamped.
101
101%
______
Ry) —19601M S
Works.--.-•1961 F A
Extl 6s pub wks May 1927..1961 M N
Public Works extl. 5%s
1962 F
Australia 30-year 5s
1955 J
f 6s (State
Extl 6s Sanitary
External g 4%s of
101%
101%
1958 J
External 5s of 1927
23
100%
100%
100%
.1957 M
1926..~.1960|M N
101%
100%
101
101
f 6s of Oct 1925..1959 A
External
97 % 101 %
97 % 101%
101
External
1928
Austrian (Govt) s f 7s
♦Bavaria (Free State) 6%s
Belgium 25-yr extl 6%s
9%
*7%
Antwerp (City) external 5s.
s
10
8
I
8
O
External
7%
1
9%
8%
6
Extl 8 f 6s of May
5
6
9%
10
9%
O
External 6s series B
6
21 H
100%
11%
7%
8
11%
11%
8%
7%
11%
19
*9%
__
J
21
17%
5
99
9%
A
♦External
21%
20
9%
J
A
♦External
%
99
9
99%
47
S
20
105%
104% 106%
100% 102%
93% 100
26
101%
60%
105%
72
M
*19
89
42%
1956
99
90
4
69
External sink fund 6%s
A
A O
M N
J
24
94%
105%
42%
Foreign Govt. & Municipals—
F
37%
70%
Agricultural Mtge Bank (Colombia)
1947
on—1948
1963
♦Antloqula (Dept) coll 7s A—1946
84
S
S
♦Sink fund 6s Feb coupon on.
102%
53%
94%
M
M S
M
♦Sink fund 6s Apr coup
96%
100
105%
100%
98%-
105%
100%
1967
1945
Akershus (Dept) ext 5s
92
2
94
Finland (Republic) ext 6s
of) 7s
9
94
94
Estonia (Republic
series G
96%
102%
61%
~5i%
1948
s
99% 101
96%
102%
96%
El Salvador 8s ctfs of dep
2
57
,
105
105
68
36
150
13
96%
32
104 %
109%
98% 108%
90%
22%
106%
24
105
27
98%
A...1952
23%
1946
♦Hamburg (State) 6s
99
23%
23%
19%
20
16%
*17
.
97
♦Hungarian Land M Inst 7 >$8.1961
32
♦Sinking fund 7^8 ser B....1961
♦Hungary (Kingdom of) 7%s..1944
*18%
16
17%
16%
18%
110
Irish Free State extl
"27
f 5s...—.I960
*112%
38
49%
*38%
110
26
50
115
115
112%
87%
60%
83% 100
103%
103
104%
33
101% 109%
External 30-year s f 7s..
1965 J
D
113%
112%
114
24
109
Stabilization loan 7s
1956 M N
1061,6
106',6
106532
8
105% 109%
Italian Cred Consortium 7s A.. 1937
100%
100%
3
98% 102%
19
28%
70%
75
6
53
83
Italian Public Utility extl 7s...1952
67%
67
68
24
51%
77
99%
100
55
External
s
1955 J
f 6s
1960
♦Berlin (Germany) s f 6%s
1950
♦External sinking fund 6s—1958
♦Brazil (U S of) external 8s...1941
♦External s f 6 lis of 1926
1957
♦External s f 6%s of 1927
1957
♦7s (Central Ry)
..1952
Brisbane (City) 8 f 5s
;
1957
Sinking fund gold 6s....
1958
Bergen (Norway) ext 8 f 6s
s
f 6s ser C-3
Refunding
s
24%
24%
25%
24
24
25
19
19
27%
Japanese Govt 30-yr s f 6%s..l954
99%
D
33%
33
35.
46
27 %
87%
83
83
84%
55
O
26%
26%
27%
76
22%
30
Extl sinking fund 5%a
1965
Jugoslavia State Mtge Bank—
91% 100
78
89%
O
26%
26%
27%
27
22
29%
30
30
30%
11
25
21%
80%
25
25
J
D
M
S
F
A
26%
Extl re-adj 4%-4%s
Extl s f 4%-4%s
27%
27
102%
II
17
101%
101%
102%
......
103%
103%
5
103%
95
102%
101$* 104%
95
J
27%
IOO
O
«v
~
O
28
16
25
38 %
99%
98%
100
8
95
100%
98%
1
93
♦Leipzig (Germany)
s
1957
1947
f 7s
98%
1
92%
99
70
65
98%
*80
♦7%s June 1 1935
coup on
..1950 J
D
1954 J
D
83%
69 %
♦4s of 1904
♦Assenting 4s of 1904.;
1954
♦Assenting 4s of 1910 large..
M S
F A
A O
"~3
70
13
55%
71
63%
64%
53
58
66
65%
66
12
57%
66
65
66
53
68%
69%
5
59%
61%
07%
68%
69
A
29
_____
63%
71%
47%
48%
39%
49
*14%
16%
13
16 %
♦Sink fund 7 %s May coup
*17
18
13
17Vs
J
J
47%
J
off1968 M N
9%
■
*6%
J
7%
9%
6%
9%
4
10%
10
*6%
5%
1954
68
67%
69%
22%
98
104%
♦Mexican Irrlg assenting 4%s.l943 M N
♦Mexico (US) extl 5s of 1899 £.1945 Q J
1945 Q
100%
1
32%
31%
Lower Austria (Province of)—
♦Assenting 5s of 1899
♦Assenting 5s large
♦Assenting 5s small
♦Sink fund 7s July coup off..1967 J
3% external s f $ bonds
Bulgaria (Kingdom of)—
♦7s with all unmat coup
♦Medellln (Colombia) 6%b
1961 F
1977
1976
1976
1975
1984
26%
102
102
1961 M S
1961 M S
f 4%-4 Ma
2
D
1960 A
♦6 %s stamped
Extl s f 4%-4%s
94%
18
Buenos Aires (City) 6%s B-2..1955 J
External s f 6s ser C-2
1960 A
External
93
129
S
D
♦Buenos Aires (Prov) extl 6s
♦6s stamped
94%
1947
External sec s f 7s ser B
82%
75%
O
D
f 6s
79
1951
A
1950 J
s
s
Italy (Kingdom of) extl 7s
M
Budapest (City of)—
♦6s July 1 1935 coupon on...1962 J
20-year
118%
7%
7%
*6%
*4%
5
4
5
6
4%
4%
4%
4%
4%
4%
7%
4%
4%
*5%
7%
6%
J
♦{Small..
Milan (City, Italy) extl 6 %S— 1952 A
Minas Geraes (State)—
f 6%s.__
Sec extl
a
t 6%s
7%
10%
12%
12%
5%
♦JTreas 6s of '13 assent (large) '33 J
8
10%
5%
♦Assenting 4s of 1910 small.
Sec extl
101
5%
O
69%
~68~
"71%
1958 M S
.1959 M S
17%
A
105%
105%
105
New So Wales (State) extl 5s.. 1957 F
External s f 5s...
Apr 1958 A
19
18
18
48
15
1
6
50
7%
7%
9%
9
77
19%
14%
19%
100% 105%
15%
105
110%
110%
110%
66
105
1
114%
114%
114%
39
Norway 20-year extl 6s
1943 F
105%
105
107
31
100%
101
32
96% 101
20-year external 6s
1944 F
105%
105%
106
29
104% 107%
105% 108
103%
103%
55
99% 103%
External sink fund 5s
1963 M
101%
101%
100% 104%
1956 M
1965 A
101
101
101%
101%
96%
49
External sink fund 4%s
External s f 4%a
1960
5s
A
Aug 15 1945 F
10-year 2 %s
1961
1954
s
A
J
1950
25-year 3%s
♦Carlsbad (City) s f 8s
♦Cent Agrlc Bank (Ger) 7s
♦Farm Loan
O
1952 M N
Canada (Dom of) 30-yr4s
M
15 1960 J
f 6s._July
103%
J
♦Farm Loan s f 6s._Oot
-
-
-
34%
15 1938 A
ser
A Apr
♦Chile (Rep)—Extl s f 7s
1942 M N
♦External sinking fund 6s
1960 A
♦Extl sinking fund 6s.__Feb 1961 F
J
♦Ry ref extlsf 6s._
Jan 1961
♦Extl sinking fund 6s..Sept 1961 M
♦External sinking fund 6s
♦External sinking fund 6s
♦Chile Mtge Bank 6%s
♦Sink fund 6%s of
♦Guar s f 6s
♦Guar
s
1926
f 6s
♦Chilean Cons Munlc 7s
1962
1963
1957
1961
14%
37%
37%
33%
34%
87%
36
34
29
27
38
15
28
34 %
38
14%
15
20
14
16
96%
Municipal Bank extl s f 5s... 1970 J
♦Nuremburg (City) extl 6s
1952 F
Oriental Devel guar 6s
Extl deb 5%a
S
82
14
76%
76%
10
10015,6 101',6
96%
96%
10
14%
14%
41
13%
16%
24
14
16%
14%
14%
15
30
18%
15%
Panama (Rep) extl
14%
14%
14%
14%
14
15%
14%
18%
14%
25
14
15%
15%
13%
29
12%
12%
18%
12
18%
12
18%
11%
12%
40%
52
19%
27%
19
25%
25%
M
13%
1962
13%
13%
14%
13%
12
1960
50%
23
22%
22%
23
22%
13%
13%
13%
12%
50%
23%
23%
23%
13
19
18%
J
D
*105
68
68
60
60%
15%
1953
♦Stamped
60%
Pernambuco (State of)—
♦7s Sept coupon off
..1947 M
S
s
1940
50
1947
70
70
13%
11%
f 6s 2d ser.1961
PolaDd (Rep of) gold 6s
Stabilization loaD s f 7s
External sink fund g 8s
Porto Alegre (City of)—
♦8s June coupon off
♦7 %a July coupon off
1950
13%
11%
11%
50%
48%
1961
*19%
1966
17%
2
•
50%
20
17%
101
99% 102%
96%
97%
102% 104
18%
27
78%
86%
72%
82%
1001516104
96%
97%
104
105%
16%
14
11%
11%
50%
♦Peru (Rep of) external 7s
.1959 M
♦Nat Loan extl s f 6s 1st ser..1960 J
D
♦Nat Loan extl
100'5,6
1963 M N
f 5s ser A
"27
1958 M N
1953 M
14%
s
96
"24"
14%
5%s
35
23%
81%
"23%
14%
♦Extl
96%
*103%
14%
1961
1197.
87%
105
Oslo (City) 30-year sf 6s......1955 M N
Sinking fund 4%s
...1955 A O
♦Chinese (Hukuang Ry) 5s
For footnotes see page
45
29
14%
13%
*13%
13%
1951
♦Cologne (City) Germany 6% s. 1950
Colombia (Republic of)
♦6s Apr 1 1935 coup on.Oct 1961
♦6s July 1 1935 coup on. Jan 1961
82%
_
32%
36%
-
15 1960 A
♦Farm Loan 6s
*37
105% 110%
111% 115
106
"9
67
90%
15
58
81
12%
13%
17%
19
10
16%
13
10
3
37
4
44
16%
80%
111%
61
40
96
16
22
15
19%
95
Volume
New York Bond Record-Continued—Page 2
143
2
fea
BONDS
N. Y. STOCK EXCHANGE
e
Week Ended Aug. 21
Range or
Sale
Low
Foreign Govt. &Munic. (Concl.)
Prague (Greater City) 7Ms
1952 M N
High
NO
99 m
23 m
23
24 m
99?* 101M
17
.
29M
18
15
18
28 M
O
112M
112m
8
109
112J*
1947 F
A
111 m
111 m
1
109
112
S
*27m
29m
O
18m
15m
18M
15m
1950 M
Rio de Janeiro (City of)—
♦8s April coupon off
1946 A
♦6 Ms Aug coupon off
1953 F
Rio Grande do Sul (State
of)—
♦8s April coupon off
1946 A
♦6s June coupon off
1968 J
♦7s May coupon off
1966 M
♦7s June coupon off
16m
A
24}*
38
1
15
21
36
14
19?*
10
18
25M
16
D
16?*
17
14
18M
N
17m
18M
4
14?*
21
D
18
18
4
15
75
46
112
1
1952 A
O
72 m
68m
112
28
18m
28 m
54 }*
81M
110
11
29?*
29m
5
18m
1223*
28 y2
29J*
22 M
25
18m
J
A
89 m
s f
53 M
73 M
8
73 M
1033*
1033*
1033*
3
Atlantic Refining deb 5s
.1937
75
Auburn Auto conv deb
4?*s
Austin & N W Is
1939
1941
{Baldwin Loco Works 1st 5s
1940 IVI N
1st gold 5s
Ref & gen 6s series C
O
...1995 J
20 H
90 M
32
813*
25 H
26?*
25M
32?*
*27 m
D
26 X
m
74
23
.
25 m
*160
Con
29
33
75
105
78m
77 m
O
75
77 m
*100x
79
51}*
166
55
55
66 3*
54
56 h
33
"88"
55
54
563*
33
108M
113
*72 M
1053*
1947 J
D
1952 A
O
Ala Gt Sou 1st cons A 5s
1st cons 48 ser B
1943 J
D
*112M
1943 J
D
*106 m
*67
76}*
80
O
73
94
68
893*
31}*
19
20
18M
17M
26 M
26 M
O
A
1945
6s
*63
1946 AO
1944 F A
102?*
144
99
98
98m
93 %
94 m
♦Coll A conv 5s
♦5s 8tamped
1950 A
O
83
83
88 M
60 m
60 m
67 m
-...1950
Amer I G Chem
s
99
36 m
67 m
ioim
108 3* 112M
367
165
99
118m 169
2
90 m
98M
70 3*
261
66 m
83 m
66
Cal G A E
5
107 m 110m
112
114
112}*
112?*
51
113 m
113m
114
29
112m 115
J
113
113
114m
33
1965 F
A
112
112
1123*
48
97
41h
48
32 m
32 m
*36 m
106"
30
8
29
71m
72 3*
*101
103?*
99 m
23 m
103
"25
104
98 x
98 m
172
J
104?*
104 m
105}*
39
4s.-.1995 A O
1995 Nov
114}*
uom
113?*
109?*
109m
*109m
1144*
1995 IVI N
,1955
Atch Top & S Fe—Gen g
Adjustment gold 4s
Stamped 4s
F
1950 J
D
1955 J
gold 4s of 1909.
Conv 4s of 1905
110
1955
4s Issue of 1910
1106 M
1960
1948
1965
deb 4M8--
Rocky Mtn Dlv 1st 4s
89
no"
107
3*
-
111m
107 m
Cal-Arlz lst&ref 4Ms A....1962 M
For footnotes see page
7
110?*
111
Trans-Con Short L 1st 4s—.1958
107 h
*113}*
-
112
S
99
'
109?*
34M
104?* 106 M
115m
104 m 113}*
104 m 113m
106 m 109
105
110}*
95 m
95M
31
92 M 1013*
N
105m
105M
1053*
10
105}* 107M
J
104}*
104
104 H
6
17
18M
U7
101
103}* 105 M
93*
18M
1113* 1185*
33
17
5
1213*
37
F
A
120 M
120 M
2
D
119}*
1193*
6
116m
116M
1163*
11
116M
127 m
116
1163*
19
127 M
128
8
96
159
1970
June 15 1955 J
1956 F
4 Ms
Guaranteed gold 4Ms..Sept 1951 M
Canadian Northern deb 6 Ms
1946
Canadian Pac Ry 4% deb stk perpet
Coll
5s
trust
cons g
S
J
1023* 106
17
D
1153*
107 M
116
107 %
1073*
12
113}* 116}*
105}* 1083*
1960
J
104}*
104
104}*
14
1949
J
4s
1938 J
Corp deb 5s
*48
110
D
1950 MN
D
.1981
D
1948
Nov 1945
5s
F
♦Ref A gen 5Ms series
A
♦Ref A gen 6s series C
{♦Cent New Engl 1st gu 4s
108 M
88
■
Telephone
HAnover 2-7900
O
73
90
27
36}*
52
68
27
M
133*
28 M
37
23
363*
14
10
11J*
20
14 H
12
20
*22
25
21
29
J
*20
27
20
24
J
*5
20
15
23
J
*20
20
28
IVI
108
108
103 M
104}*
J
M
Private Wires to Chicago.
A.
T.
&
T.
Teletype
J
48 M
48 M
53
14
87 H
87}*
883*
27
86}*
813*
81
83
38
82
1987 J
NEW YORK
NY 1-911
Indianapolis and St. Louis
27
1053* 108
99 M 104}*
43 M
77 M
J
New York Curb Exchange
-
—
102}* 108}*
14}*
"27 }*
Vilas A Hickey
—
1
"27
Railroad, Public Utility and Industrial Bonds
Members
1003* 105}*
493*
543*
673*
BROKERS
—
8
32
110m 113m
-
973*
1063* 1083*
1083* 1113*
110
88
873*
66
1951 F
1961
—1987
107
*30
A
B....1959
1959
♦Chatt Dlv pur money g 4s..1951
♦Mac A Nor Div 1st g 5s
1946
♦Mid Ga A Atl Div pur m 5s. 1947
♦Mobile Dlv 1st g 5s
1946
Cent Hud G A E 1st A ref 3MS.1965
.
108
88
A
1945 M N
♦Consol gold 5s-_
55
*106 M
D
w w
Cart A Ad 1st gu g 4s
Central N J gen g 5s
General 4s
49 WALL STREET
129
14
105}* 1075*
110m 114
York Stock Exchange
1193*
1173*
1163*
104}*
1197
New
121
95 M
102 m 1073*
109
114
BOND
1213*
1033*
♦Cent Branch U P 1st g 4s
g
119
95 m
4 Ms
guar g
{♦Central of Ga 1st
1153*
103 h
6s ser A.-Dec 15 1952
Carriers A Gen
1083*
1133*
115
115M
112?*
110H
110M
122M
Dec 1 1954
Coll trust gold 5s
1st A
A
7
,
J
equip trust ctfs
trust
J
1163*
67
1946 M S
J
1944
4 Ms
Cent III Elec A Gas 1st 5s
112 m
14
1153*
48 m
103 m 105}*
99
943*
110M
683*
59 M
106}*
84 m
103
96
O
61M
59
118M
Caro Clinch A O 1st 5s
30 m
67 m
90
483*
553*
57
115
{♦Car Cent 1st
49
29
14
59 m
11836
1203*
131m
111
6
29
71m
"85
98 m
Armstrong Cork deb 4s_:
Conv
3*
41m
106 M
31
A
1st M s f 4s ser B (Del)
Conv g
106
J
{♦Ann Arbor 1st g 4s
1995 Q J
Ark & Mem Bridge A Ter 5s...1964 IVI S
Armour & Co (111) 1st 4 Ms
1939 J D
Conv
40
40
29
80 M
120 M
Collateral
J
30}*
17
84
1153*
109 m 119m
112
1145*
107 m
19
173*
J
51
85
21
O
39
45
1960 A
843*
*83 M
O
J
83 M
1957
115
1023* 1043*
65}*
843*
20}*
84
O
July 1969
Oct 1969 A
113
110m
A
1962
113
125
128
108 M 111
Canadian Nat guar 4 Ms
Guaranteed gold 5s
Guar, gold 4}*s
Guaranteed gold
109?*
6
1163*
101H 106M
108 m 1345*
120M
1033*
O
15
110}*
104
109 M
103
O
105m
120M
103m
A
110% 117m
J
S
A
125
J5
1939 J
1967 J
1033*
*103}*
*109}*
J
A
1942
111?*
1975 MN
S f Income deb
103
J
-.1940 J
105m
deposit
1063*
Corp unf A ref 5s...1937 M
110?*
105}*
111M
Anaconda Cop Mln a f deb 4 Ms 1950 A O
♦Anglo-Chilean Nitrate 7s
1945 M N
105
1945 M N
♦Camaguey Sugar 7s ctfs
Amer Water Works & Electric—
Certificates of
gu tax ex..
Guaranteed gold 5s
Guaranteed gold 5s
112m
♦
Bldgs 5s
Cal Pack conv deb 5s
79
75
Convertible debenture 4 Ms.
Debenture 6s—
6s.. 1947 J
1
Canada Sou cons gu 5s A__
1015*
98 h
109m
g
1053*
1952 A
By-Prod Coke 1st 5 Ms A
nim
108?*
{♦Am Writing Paper 1st
110
105 3*
A
1955 J
586
161M
108 M
Deb g 6s series A
M 1283*
1053*
173*
5s
Bush Term
69}*
s
♦Consol
88 M
100}*
D
Am Type Founders conv deb..1950 J
124
108
1957 IVI N
♦Certificates of deposit
{♦Bush Terminal 1st 4s.L
483*
90
Telep & Teleg coll tr 5s
1946 J D
35-year s f deb 5s
J
...I960 J
20-year sinking fund 5 Ms
1943 M N
.
129M
953*
1193* 122
104
}{♦Burl C R A Nor 1st A coll 5s 1934
98 3*
S
Am
„
9
115
4
1937 M
40
99 m
148
148
5Ms
1949 IVI N
Am Internat Corp conv 5 Ms..1949 J
J
Am Rolling Mill conv deb
4}*8.1945 M S
121
85
75
109
~~8
1981 F
95m
*111}*
100}*
conv
1203*
16
108 M
1938
78
*101}*
o
IVI
-
1123*
*129
102}|
69
d
92
112M
102 U
100}*
104 M
Bruns A West 1st gu g 4s
104 m
87 m
158
1953 J
77}*
100}*
102
104}*
76
55
101
93 m
f deb 5s
61
178
108 M
80
53
,
D
s
88
102 }*
D
Buffalo Gen Elec 4Ms ser B
80
111
66 M
103
1949 J
American Ice
....
IVI N
1950 F
33*s
103}* 107 m
Coll & conv 5s
IVI
1957
19}*
102}*
92
1123*
IVI N
1950 J
3
1013*
*74
1947 IVI N
5s..
1st Hen A ref 5s series B
Brown Shoe s f deb
61
102
102
J
1950 F
157
100
100
J
1941 J
5s
75
*183*
gtd 5s. 1941 M N
Buff Roch A Pitts gen g 5s
Consol 4 Ms
53
109
ICS
80
1948
♦Alplne-Montan Steel 7s.
1955
Am & Foreign Pow deb 5s..—2030
33
1023* 106}*
1093* 110H
71M
93M
103
Coll trust 4s of 1907
Adriatic Elec Co. ext 7s
1942 IVI
"77"
23
20
1st lien A ref 6s series A
1950 A O
Allis-Chalmers Mfg conv deb 4s 1945 MN
93
29
97
Debenture gold
Allied Stores Corp deb 4 Ms
106
105}£
30
20 M
A
g
1998 A
5
323*
?2M
28
1st 5s stamped
Bklyn Union EI 1st
103
25
~23M
213*
con
97
3
21M
Bklyn Qu Co A Sub
97
6
25M
213*
89
102
25 M
1213*
129M
72
78
101?*
8
78
84m
101}*
125
"27"
75 M
70 M
84 m
101 J*
119
22
70 m
84 m
101M
25
1283*
75 m
1961 J
101X
12i 3*
128}*
"75"
Yokohama (City) extl 6s
59}*
743*'
103M 109M
109}* 118
68 }*
75
98}* 1003*
O
Bklyn Edison cons mtge 3J*s._1966 MN
Bklyn Manhat Transit 4Ms_—1966 IVI N
40m
3
1955 IVI N
96
71m
g
109
1967 M S
....1961 A
cons
105
113}* H6M
*110
1944
89 m
52 m
903*
1163*
25
33 m
51
803*
74
243*
96
51
90
613*
25 M
{♦Boston A N Y Air Line 1st 4s 1955 F
§ {♦Botany Cons Mills 6Ms— .1934 A
♦Certificates of deposit
Brooklyn City RR 1st 5s
1941 J
COMPANIES
98M
74 M
100 M
1203*
26
42 m
♦SJAbitlbl Pow A Paper 1st 5S.1953 J D
Adams Express coll tr
g 4s
1948 M S
88
108}* 114M
84M 100}*
*1073*
D..1960
ser
ser JJ
Bklyn Un Gas 1st
99 M 106
34
*102}*
1955
Boston A Maine 1st 5s A C
1st M 5s series II
INDUSTRIAL
39
113
113
D
O
.
D
60
131
*114}*
41
96
105
8
95
1033*
88
1283*
4}*s
53 m
180
112
88
1203*
Big Sandy 1st 4s.
37 m
893*
102 M 108
92
75
46
1951
107 J*
1033* 105
232
1960
4j*s
103
106
103}*
1951
stamped
113
100
99
1943
4s
70
2
783*
42 m
Allegh A West 1st gu 4s
Allegh Val gen guar g 4s
543*
795*
10336 1063*
34
89 M
1952 M N
1958 F A
Susq 1st guar 3Ms
{ Alleghany Corp coll tr 5s
69M
61
104}*
76}*
1948
1st g
106}*
88
♦Berlin Elec El A
Underg 6 Ms. 1956
Beth Steel cons M
37 m
1964 IVI N
♦6s with warr assented
*
100 M 1043*
973*
Belvldere Delaware cons 3Ms._1943
♦Berlin City Elec Co deb 6
Ms—1951
♦Deb sinking fund 6 Ms
1959
39 m
O
105}*
106
1996
F
ser
♦Debentures 6s.
100
1
J
103m
1st A ref 5s series C._
73 m
101h
88 M
111M
99
Bell Telep of Pa 5s series B
100m
73m
68 m
78m
75
88 m
1113*
D
293*
150
104m
1952 M S
Alb &
1
763*
Battle Creek A Stur 1st gu 3s. .1989 J
Beech Creek ext 1st
g 3 Ms
1951 A
91
A
J
ref
4s
22 M
116
25
A
♦Albany Perfor Wrap Pap 6s. .1948 A
6
1960
i
Bangor & Aroostook 1st 5s
35
23
1960 M N
AND
93
81M
95 M 100
40}*
33 M
107 M
107
O
1941 M N
14
4 Ms
107 m
D
July 1948 A
163*
89 m
D
*105M
104}*
58
assented
1940
Bait A Ohio 1st
g 4s.July 1948
Refund & gen 5s series A
1995
Vienna (City of)—
♦6s Nov coupon on
Warsaw (City) external 7s
RAILROAD
105}* niM
953* 100}*
76
88 M
58
75
*1043*
Ref A gen M 5s
J
Venetian Prov Mtge Bank 7s. .1952 A
52
73 m
P L E & W Va
Sys ref 4s
—
1955 F
6s
52
213*
89 m
Trondhjem (City) 1st 5Ms—.1957 IVI N
♦Uruguay (Republic) extl 8s..l946 F A
♦External
19
153*
J
1946 F
f 6s
109
57 M
18m
36 m
s
92 M
100
563*
Conv
33
♦External
913*
993*
16M
O
1961 A
913*
J
23 M
3
f 5 Ms guar
123
30
6
s
172
87
16M
42 m
External
2
993*
18M
J
1971 J
118M
1033* 107
111 M
1948 J
Hioh
118
86 M
22 M
40 m
s f 5Ms
Tokyo City 5s loan of 1912
Low
98 M
22
41m
Taiwan Elec Pow
No
111 M
30
42 m
Ms
High
86 m
21M
Silesia (Prov of) extl
7s....... 1958 J D
♦Slleslan Landowners Assn 6s..1947 F A
Solssons (City of) extl 6s..
1936 M N
Styria (Province of)—
s f 5
107 M
Jan. 1
99 m
1948
Atl Gulf A W I SS col tr 5s-_.H959
193*
14?*
23
Sydney (City)
J
27 m
17m
24 h
24
♦7s Feb coupon off
Since
Asked
May 1 1945 IVI N
10-yr coll tr 5s
Atl & Dan 1st
g 4s
2d 4s
Range
|a
&
1063*
J
1944 J
*
23
17?*
1935 coupon on.. 1962 IVI N
1935 coupon on..1962 M N
♦7s Nov 1
Range or
Friday's
Bid
*118
D
1944 J
Southwest Dlv 1st 3M-5s
1950 J
Tol & Cln Div 1st ref 4s A... 1959
Ref & gen 5s series D
2000
*16}*
8*8s July coupon off
1936 J
J
♦External 8s July coupon off.1950 J
J
♦External 7s Sept coupon offl956 M S
♦8s Nov 1
1946 J
Atl Coast Line 1st cons 4s
July 1952 M 8
General unified 4 Ms A
1964 J D
L & N coll gold 4s
Oct 1952 MN
San Paulo (State
of)—
-
Sale
Price
Low
Atl Knox & Nor 1st
g 5s
Atl & Charl A L 1st 4
Ms A
1st 30-year 5s series B
tgu g 5s
—
♦7s August coupon off
1959 F
♦Saarbruecken (City) 6s
1953 J
Sao Paulo (City of
Brazil)—
♦8s May coupon off
1952 M N
4Extl 6Ms May
coupon off-. 1957 M N
♦Exter .al 6s July coupon off. 1968
♦Secured s f 7s
1940
♦Saxon State Mtge Inst 7s
1945
♦Sinking fund g 6Ms—
1946
Serbs Croats & Slovenes
(Kingdom)
fe
20 M
•
1964 M N
(Kingdom of Monopolies)
24
'4
24
O
1967 J
Rome (City) extl 6Ms..
Rotterdam (City) extl 6s
23
g
sa,
Hioh
Low
5
99 j*
Last
BONDS1
N. Y. STOCK EXCHANGE
Week Ended Aug. 21
Since
f 7s. .1941 A
s
♦Rhine-Main-Danube 7s A
Roumanla
Jan. 1
Bid
Price
♦Prussia (Free State) extl 6 Ms. 1951 M S
♦External s f 6s
1952 A O
Queensland (State) extl
25-year external 6s.
Range
Friday's
&
Asked
Last
«
so,
1193
Week's
Friday
Week's
Friday
103 M
93 M
Ail*.
New York Bond Record—Continued—Page 3
1194
Y.
Bennett tyros. & Johnson
,
a/
£M embers
|
j
D
J
j
f
A
------
F
a
Debenture 5s
133 So. Le Smile St.
Vrivete Wire
TJlgby 4-5200
Connections
Randolph
Ji. r. 1-741 -f 9ell Syetem Teletype 0- Cgo. 343
Jan
7711
Friday
Week Ended Aug.
Friday's
Price
Nft.
21
Range or
Sale
$5
e
Week's
Last
bonds
•
Bid
Range
Asked
A
|l
Since
Jan. 1
F
a
A
a
1949
4s. 1954
Through Short L 1st gu
Guaranteed g 5s
..
Cent RR & Bkg of Ga coll 5S..1937 IVI N
Central Steel 1st g s f 8s
1941 M n
Certaln-teed Prod 5%s A
1948 IW S
M s
Champion Pap & Fibre deb
Chesap Corp
10-year
4%sl950
1947
5s
coll 5s
conv
conv
Ches & Ohio 1st
con g
1944
d
79
107%
5
100%
101%
122
89
1
67
83
83
128
92%
91%
91%
102% 106
105%
106
5
150%
131%
153
74
134%
75
110
a
104%
104%
104%
105
9
104%
1961 j
7
124%
23
118% 126%
Crown
110%
36
110% 113%
Crown Zellerbach deb 5s
100%
58
lio"
lio"
110
Crown Cork & Seal
s
99% 100%
108% 111
Cuba Nor Ry 1st 5%s
110
110
*115
j
*112
108% 109%
Cuba RR 1st 5s g
;
1st ref 7%s series A
1st lien & ref 6s ser B
ivi
s
*110%
110
A
o
108
j
111%
112%
111%
114%
97%
111%
113%
20%
22%
19%
20
1958 ivi
S
1st & ref 4 Mb serB
1977 f
A
1st & ref 5s
1971 f
A
{{Chicago & East 111 1st 6s...1934 A o
{♦C & E 111 Ry (new Co) gen 5S.1951 ivi N
113
111%
114%
"20%
♦Certificates of deposit
Chicago & Erie 1st gold 5s.... 1982
Ch G L & Coke 1st gu g 5s
Chic L S & East 1st 4%s
1966 J
J
j
112
2
98
82
98
14
23%
14
21%
160
38
116
34%
37%
190
117%
26%
49
29
40
28%
48%
46%
21
15%
28
22
29
16%
92% 102%
*38"
"~19~"
19
'101%
101
21
101%
*110%
*45
55
♦Gen 4%s series C__May 1 1989
♦Gen 4%s series E_.May 1 1989
♦Gen 4% series F...May 1 1989
~23
57%
13
59
59%
6
A
"l9~"
19
20%
277
O
7%
7
7%
325
J
{♦Chic Milw St P & Pac 5s A.. 1975
Jan 1 2000 a
♦Conv adj 5s
52%
"52%
55%
{♦Chic & No West gen g 3%s._1987 M n
9
38
37%
g
6 Mb
D
17
27
16
25%
El Paso & S W 1st 5s
5s stamped
16
25%
10%
17
16
.4
70
32
46%
1934 AO
{♦Refunding gold 4s
♦Certificates of deposit
{♦Secured 4Mb series A
1952
34%
1
31
43%
"~15%
15%
16%
61
15
20%
14%
J
14%
14%
20
m's
♦Certificates of deposit.!..
♦Conv g 4%s
1960 MN
Ch St L & New Orleans 5s
1951 j D
Gold 3%s
June 15 1951 j D
d
Memphis Dlv 1st g 4s
1951 J
17
18
23
16%
16%
12
8%
S%
32
"33%
17
"~8%
•
33%
111
*110%
S
"91%
91%
93%
81%
91%
1
"83%
94
18
74
83
40
61
Gen
1963 J
,
...1947 j
Copper Co deb 5s
107
106%
106%
8
j
1jl0%
4
108
d
1944 j
1st mtg 3%s ser E.___
1963 J
Chic & West. Indiana con 4s... 1952 j
Childs Co deb 5s._
1943 a
Chile
106%
j
107%
28
107
J
104%
104
104%
15
O
82%
82%
83%
28
J
102%
102%
102%
38%
32
99% 105%
73
86%
100% 103%
K__
100%
K
Cln H &D 2d gold 4 %s
J
1937 j
Cln Leb & Nor 1st con gu 4s...1942 M n
Cln Union Term 1st gu 5s ser C.1957 ivi N
1st mtge guar 3%s series D..1971 ivi N
J
Clearfield & Mah 1st gu 4s__._1943 j
Cleve Cln CIil & St L gen 4s... 1993
General 5s serial B
1993
Ref & lmpt 6s ser C
1941
*1 05%
j
j
10
106%
1
93%
105%
102%
102
93%
J
*105%
j
*101%
106
108%
109% 113
107%
105
96% 104%
111% 119
103% 105%
120
102'
101% 103
104
103
102%
47
100% 106
14
.
*105
J
1977
1939
y«
"5
110%
106%
uo
D
1963
Oin Wabash & M Dlv 1st 4s. 1991 J
108%
110
D
~1S
101%
108%
106%
100%
35
109
89
94%
78%
106
105
102
Spr & Col Dlv 1st g 4s
1940 M s
*105
107%
104
*100%
106%
110%
106%
110%
94% 101%
101% 107%
108% 111%
110%
B.1942 A
o
*111
Series B 3 Ma guar
1942 A
o
*104%
Series A 4%s guar
1942 j
J
Series C 3 Mb guar
1948 M n
*110%
Series D 3 Ms guar
1950 A
*106%
Gen 4Mb ser A
Gen & ref mtg 4Josser B
1977
Cleve &
Pgh
gen gu
4%s
ser
111% 112%
*111
111% 113
106
1981
Cleve Short Line lstgu 4%s__.1961
111
Cleve Union Term gu 5%8
1st s f 5s series B guar
1st Bt
4Mb series C
.1972
1973
1977
106
113
*110
L
104
113
-----
115%
{♦Fla Cent & Penin 5s.
{♦Florida East Coast 1st 4%s._ 1959
1974 M
108%
*35%
50
-
—
-
104%
--
--
25
26
62%
107
86
29
114
114
106%
-
-
16%
10
103% 114
7
106% 108
106%
,
112%
136%
*i 12%
112%
1
110
110%
5
108
3
101% 110%
100% 108%
*107
107%
*107
-----
89%
-----
-
-
-
112%
70
117
1
67
-
-
-
-
111
2
103
*103%
98
101%
97% 103
101% 104
95
103%
84%
60%
2
103%
75
75
58%
58%
58%
D
62%
62%
63
s
8%
8%
9%
85
7%>
11%
7%
8%
53
7
10%
*7%
9%
8
11
*3%
5
4
*3%
*105%
'
O
D
66%
-
-
-
-
-
-
62
93
35%
75%
101%
101%
l"
105%
105%
13
36%
36%
1
1940 J
d
107%
103%
108%
20
100% 109
103%
44
-
-
-
A
104
76
98
2
-
36
-
-
j
D
12
13
105
105%
40
105%
104%
105%
99%
99%
99%
121
*97
-
-
-
103% 106
15
98
-
_
*108%
1197.
128%
104%
108
1
For footnotes see page
100
56
100
50
-
36
107% 108%
104
105%
52
125
32
30
1
108%
20%
20
-
108
121
36%
102
14%
.
.
30%
-
1
68
88%
86%
105
s
f
1941 J
103
14%
108
1945 j
w wl940 iw
87%
-----
36
Goodyear Tire & Rub 1st 5s... 1957 iw N
107%
84%
94%.
101% 104%
101
106%
29
36%
30
36%
13
36%
36%
*36%
103
.
*20%
{{♦Ga Caro & Nor 1st ext 6s__1934 J
♦Good Hope Steel & Ir sec 7s..1945 A
Goodrich (B F) Co 1st 6%s...l947 J
♦{♦Gould Coupler 1st s f 6s.... 1940
Gouv Ac Oswegatchie 1st 5s....1942
106%
110%
106
o
J
105% 112
105
105
-
13
84%
6%
6%
105
-
*121%
f
61
66%
109%
.
93
j
52%
3%
106%
109
79
1
5
-----
*105%
84%
1
11
j
105% 111%
74
103
99
104
A
17
104%
101% 103
....
j
111
111
42%
46
-----
103%
d
85%
116% 119%
-
67
102%
102%
86
119
103
-
-
-
*102
A
88
69%
1
118
*111
90
74
300
'
90
75
-
237
85
118
-
-
-
117
.
74%
9
-
85
83%
105% 106%
-
-
89%
117
j
-
-
90
-----
83%
83%
83%
99% 105%
89%
77%
124
14
*81%
-
105% 107
-
14
88%
•-
-
-
113
105% 107%
--
--
-
105
104%
—
128% 138
----
J
110%
29%
104% 104%
*135
-
owner
110%
85%
29
110
-
18
Gotham Silk Hosiery deb 5s
107
108%
12%
429
29%
109%
89%
♦20-year s f deb 6s
1948 iw N
Gen Pub Serv deb 5%s
j
1939 J
Gen Steel Cast 5%s with warr. 1949 J
{♦Ga & Ala Ry 1st cons 5s
1945 J
Conv deb 6s
15%
15%
112% 116%
29
89%
Framerican Ind Dev 20-yr 7%s 1942 j
J
{♦Francisco Sug 1st s f 7%s...l942 iw N
♦Sinking fund deb 6%s
-
83%
26%
106%
35
-
107%
107%
27%
45
35
-
-
----
-----
82
♦Certificates of deposit.....
Fort St U D Co 1st
g 4%s
1941 j
Ft W & Den C 1st
g 5%s
1961 J
GrR& I ext lstgu g4%s
35
*104%
-
50%
45
-
116
83
110%
50
----
-
-
45
*115
107%
27%
108
108% 111%
----
*106%
♦Certificates of deposit..
by
-
-
5
25
*25%
7
71
07«S16 110
113
116%
7
116%
*35%
3%
1
111
20%
20%
31%
66
-
108%
110%
Fonda Johns & Glov
4%s
1952
{{♦Proof of claim filed by owner. M n
(Amended) 1st cons 2-4s
1982
M n
{{♦Proof of claim filed
3
104
115%
108%
*103%
1943 j
j
♦1st & ref 5s series A..
-
38%
13%
*101%
*103%
1954 J
.1946 j
f g 7s
-
107,5i6 107'516
s
111
95
23
-
38
31%
2
4
s
'
103%
34
30
4
65
s
106%
93% 100%
96
104%
100%
25%
1942 iw
1942 iw
Gas & El of Berg Co cons
g 5s..1949
Gen Amer Investors deb 5s A..1952
Gen Cable 1st s f 5%s A
1947
♦Gen Elec (Germany) 7s Jan 15 1945
100
13
.1942 iw
Galv Hous&Hend 1st 5
%s A.. 1938 A
1990 M n
67
25
f
103%
95%
St L Dlv 1st coll tr g 4s
j
W W Val Dlv 1st g 4s
1940 J
Cleve-Cllffs Iron 1st mtge 4%s.l950 M n
j
Cleve Elec Ilium 1st M 3%s...l965 J
,
i
s
12
15
51
88%
1956 j D
1942 iw s
Flat deb
105% 108%
16%
4
110
105% 108%
-
32
104%
Fairbanks Morse deb 4s
Federal Light & Tr 1st 5s
5s International series
s f 5s
stamped
1st Hen 6s
stamped
30-year deb 6s series B
-
-
-
31
*42
4
-
1954 f
1st lien
107%
13%
25
------
Ernesto Breda 7s
105% 109
105% 108%
108% 112
105
4
15
------
-
106%
100% 105
10
108
j
1957 J
f 6s
107
32
:1953 a
1953 a
s
102
1
105%
78%
90%
98
102%
8
30
-
o
N Y & Erie RR ext 1st 4s...1947 iw N
iw
3d mtge 4%s
s
1938
95%
84
-
4s series D_.
Genessee River 1st
94%
110%
107%
{♦Choc Okla & Gulf cons 5s... 1952 ivi N
Cln G & E l3t M 4s A
"..1968 a O
Ref & lmpt 5s ser D
Ref & lmpt 4Mb ser E
Cairo Dlv 1st gold 4s
31
106
J
1944 J
1st mtge 4s series D
conv
85
105%
30
j
1953 a
Ref & lmpt 5s of 1927...;...1967 iw N
Ref & lmpt 5s of 1930
..1975 a o
Erie & Jersey 1st s f 6s
j
1955 J
Chicago Union StationGuaranteed g 5s
Guaranteed 4s___
1951
Conv 4s series A
Series B
19%
22%
14%
20%
7
11%
105
111%
13%
15%
*90
d
Chic T H & So East 1st 5s....1960 J
lnc gu 5s
Dec 1 1960 M
•'
1996
6
83%
106%
1956 M n
J
1939 j
1st consol gen lien g 4s.;
Penn coll trust gold 4s
101% 104%
104% 107%
101
*106
1905
Erie & Pitts g gu 3%s ser
J
B...1940
Series C 3%s
1940 J
j
Erie RR 1st cons g 4s 4s
prior.. 1996
80
60
74%
73%
33%
33%
A
75%
70%
46%
-
107%
*106%
4s.11948
1965 a
61
49%
1
-
-
-
102
------
♦Ctfs of deposit
5
214
49%
----
-----
*25%
J
103%
65%
105
Elgin Joilet & East 1st g 5s.... 1941 iw N
12%
64
101
1995
61%
11%
5
57%
82%
82%
101
106%
102
32
62
*101%
107%
107%
D
42
19%
56
62
104
----
56
105
102
103% 106%
12
106%
-----
D
14
25
5{♦Chicago Railways 1st 5s stpd
f
Aug 1 1933 25% part pd.
{♦Chic R I Ac P Ry gen 4s
19§8 j
♦Certificates of deposit...
J
.1995 j
East T Va & Ga Dlv 1st 5s
Ed El 111 Bklyn 1st cons 4s
Ed Elec (N Y) 1st cons
g
19%
19%
105%
55
96
9
106
105%
103
100% 103%
5
99%
110%
56
21
2
....1995
5s.,...1995
109%
104
107%
103% 105
5
102
56
-
57%
19
"11%
A
J M 8
56
45%
103%
102
13%
37
19%
d
1949 M n
♦Conv 4%s series A
"45"
"19"
9%
103%
*102%
J
Duquesne Light 1st M 3%S—.1965
♦{East Cuba Sug 15-yr s f 7%s.l937 MS
25
107
103%
-•
38%
40%
41%
D
♦1st ref g 5s
May 1 2037 j
♦1st & ref 4%s stpd.May 1 2037 J
♦1st & ref 4Mb ser C.May 1 2037 J
68
12
15
118
102
99%
62
101% 103
----
108%
105%
30%
31%
42%
17
105
106
30
109%
20
-
104%
------
108
20%
-
---
102
105%
......
Detroit Term & Tunnel 4%s..l961 M N
Dul & Iron Range 1st 5s
1937 A O
Dul Sou Shore & Atl g 5s
J
1937
69%
*101
15
A
♦2d 4s assented
-
-
46%
107%
-
1965
F
♦Detroit & Mac 1st Hen g 4s.—1995
68
44%
-
105
J
J
F
1952
58%
24
105%
M N
1961
ser
29
j
-
41%
41%
"45%
1951
3
21
107%
1937
42
*30%
31
105
22%
*62%
East Ry Minn Nor Dlv 1st
2
t
32
19%
56
54%
54%
2
38%
§ ♦Secured
A
48%
39%
38%
..1987 M n
1936 ivi N
20
-----
35%
39%
38%
♦4 Ms stamped
106
12
46
36
"39%
♦Gen 4%s stpd Fed lnc tax..1987 M n
♦Gen 5s stpd Fed lnc tax
1987 M n
12
1
22%
21
33%
..1987 M n
Stpd 4s non-p Fed lnc tax. 1987 M n
♦General 4s
107
21
-----
♦Second gold 4s.
47%
49%
17%
106%
*21
Gen & ref M 4s
65%
47%
*22%
-----
Gen & ref 4 %s series D
Gen & ref 5s series E
46%
6
...
F A
F A
A "
43
50%
103% 105
1936
♦1st 4s assented
31
53%
25
------
{♦DesPlalnes Val 1st gu 4%s..l947
Detroit Edison gen & ref 5s ser C '62
110% 111%
49%
49%
♦Chic M & St P gen 4s ser A.. 1989
♦Gen g 3Mb ser B__May 1 1989
105
106%
f
♦Assented (subj to plan)
♦Ref & lmpt 5s ser B...Apr 1978
{♦Des M Ac Ft Dodge 4s ctfs
1935
39%
28%
104% 105
104%
D
1936
{♦Consol gold 4%s
1936
{♦Den & R G West gen 5s.Aug 1955
104% 105%
40
63
1952
Stamped as to Penna tax
{♦Den & R G 1st cons g 4s
122%
39%
105
104%
j
1969 J
j
1st mortgage 4%s._.
1969 J
N
Den Gas & El 1st & ref s f 5s...1951 IW -•
113%
6
104%
D
1971
----
-----
105
..1936
Del Power <fc Light 1st 4%s
1st & ref 4%s
114
*._
D
1969
113
llO'ie 112%
104% 104%
106
110%
106%
106%
Dayton Pow & Lt 1st & ref 3%s 1960
Del <fc Hudson 1st & ref 4s
1943 ivi N
Gold 5%s
IIIII1937 M N
55%
108%
11
114%
'""3
j
1956 j
41
104%
108%
107%
106%
110
*_
j
1966 ivi N
♦1st & gen 6s series B.May
Chic Ind & Sou 50-year 4s
5
104%
34%
J
1947
1947 J
35
113
104%
j
{♦Chicago Great West 1st 4s..1959 M s
j
{♦Chic Ind & Loulsv ref 6s
1947
♦Refunding g 5s ser B
♦Refunding 4s series C
♦1st & gen 5s series A
11
*121%
ivi N
1937
5
108%
General 4s
ser A
46
53
52
52%
j
*102%
112%
110% 111%
4
109'5|6 109'5,6
-
1951
Cumb T & T 1st & gen 5s
112% 118%
110
-
-
106%
106%
1942
j
Chic Burl & Q—111 Dlv 3%s—1949
Illinois Division 4s
1949 J
-
-----
W..1940 ivi S
j
D
w
1949
Chic & Alton RR ref g 3s
-
-----
1950 m n
j
j
f 4s
1941
Warm Spring V 1st g 5s
-
-
80%
106%
1943 j
Willamette Paper 6s
33
105
*112
——
-
1946 j
Copenhagen Telep 6s Feb 15. .1954
j
1989
-
*21%
♦Debenture 4s
110%
87%
105%
99% 105%
98% 105%
*111%
A
1955 a
1989
4s
o
73
1955 j
123%
123%
110%
74%
85%
98% 105
48%
99
4 %s
110%
100%
99%
*110%
S
102
59%
1955 F
f
warr
4
84%
78
4%s
Container Corp 1st 6s
15-year deb 5s with
115% 157
110% 138%
110% 112%
65%
----
39
Consumers Power 3%s.May 1 1965 ivi N
1st mtge 3%s
May 1 1965 iw N
m n
1st mtge 3%s
..1970
88
High
110% 111%
----
—
105
1956 j
Consolidation Coal 8 f 5s..—.1960 j
Consumers Gas & Chic gu 5s.. 1936 j
102%
—
104%
81
♦Debenture 4s
108
"38
131%
o
j
102
.
121% 127
90
100
106
A
Potts Creek Branch 1st 4s.-.1946
R & A Dlv 1st con g
2d consol gold 4s
110%
*125%
M
Ref &lmpt mtge 3%s ser D..1996 IW N
j
Craig Valley 1st 5s
May 1940 j
High
103% 110%
109%
IVI N
1939
1992
1993
5s..
General gold 4%s
Ref & lmpt 4%s_
'16 lH
M N
J
Low
107
110
o
1960 F
Cent Pac 1st ref gu g 4s
High
— —
80
104%
♦Debenture 4s
Low
High
—
73
1951 j
1951 j
Consol Edison (N Y) deb 3%s.l946 a
3%s debentures
1956 a
♦Consolidated Hydro-Elec Works
of Upper Wuertemberg 7s
1956 j
Consol Gas (N Y) deb 4%s
1951 j
{♦Consol Ry non-conv deb 4s..l954 j
guar
Since
Jan. 1
105
1948
Conn Ry & L 1st & ref
Range
Is
ivi N
Comm'l Invest Tr deb 5%s....l949
Conn & Passum Rlv 1st 4s....1943 a
Stamped
N. Y. STOCK EXCHANGE
15
1936
ivi N
Apr 15 1952
Col & H V 1st ext g 4s
Col & Tol 1st ext 4s
8
Asked
*110%
*75%
104%
83%
4s
conv
Debenture 5s...
Chicato, ttt.
One Well Street
A
Low
1945
{♦Colon Oil
<RAILROAD 'BONDS
Hew Tork, 91. T.
Bid
Price
deb 6s
1938
{♦Colo Fuel & Ir Co gen s f 58.1943
{{♦Col Indus 1st & coll 5s gu._1934
Colo & South 4%s ser A
1980
Columbia G & E deb 5s.. .May 1952
Coal River Ry 1st gu
York Stock Exchange
York Curb Exchange
I
Sale
EXCHANGE
Ended Aug. 21
STOCK
Week
Range or
Friday's
Last
bonds
N.
22,
Week's
Friaay
110
Volume
New York Bond
143
r 1
Lost
BONDS
N.
Y
rt tt/c
iuu(/
Price
Bid
Friday's
&
Asked
Low
Grand Trunk Ry of Can g 6s__l936 M
S
gu 5s ...1947 J
Gt Cons El Pow (Japan) 7s
1944 F
1st & gen s f 6 %s
.1950
Great Northern 4%s series A..1961
General 5%s series B
1952
General 5s series C
1973
General 4 %s series D
.1976
IM>4<
General 4%s series E
Gen mtge 4s ser G
J
Low
High
100
97
90
95
94
94%
9
88%
87
87
1
81%
91
113%
114
10
114%
114%
115%
20
109
109
109%
104%
J
J
105%
10
10/3%
103%
86
J
103%
107% 114%
107% 116
117
117
120
105%
108
96%
258
105%
176
*65
"10%
10%
M N
99% 108%
60
"31
7%
102%
*107%
102%
102%
"~3
O
97 %
97%
98%
85
J
J
*77%
J
*77%
1942 J
D
90
81%
75%
86
69
82%
10,2%
*107%
101
103
110
1949
J
*30
Hocking Val 1st
1999 J
J
122
cons g
J
1952
4 %s
♦Hoe (R) A Co 1st
mtge
{♦Housa tonic Ry cons g 5s
H A T C 1st g 5s lnt
guar
...1944 A O
1937 M N
Hudson Coal 1st s f 5s ser A
Hudson Co Gas 1st g 5s
1962 J D
1949 MN
Hud A Manhat 1st 5s ser A
1957
F
A
♦Adjustment Income 5s.Feb 1957 A O
Illinois Bell
Telep 3%s
ser B
Illinois Central 1st
gold 4s
1st gold 3%s
102%
45
44%
64%
""5
15
67
44%
45%
122%
5
119%
72%
26%
80%
77
81%
200
34
33%
34%
140
108
1953
108%
41
104
A
87%
88%
82%
82%
88%
82%
88
82%
10
69%
82
83%
178
100%
78"
78
105%
1950
"88%
89%
106
99
99
3%s.._1953i
100%
3
80%
57
106%
90%
*100
Joint 1st ref 5s series A
1st A ref 4 %s series C
88%
1963
83
1963
Illinois Steel deb 4
%s
1940
Ind Bloom A West 1st ext
4s.. 1940
Ind 111 A Iowa 1st
g 4s
...1950
{♦Ind A Louisville lstgu 4s
Ind Union Ry 5s series B
3%s
88%
83
107%
105
1956
105
♦Certificates of deposit
{♦10-year conv 7% notes
♦Certificates of deposit..
Interlake Iron 1st 5s B
1
103
106%
m's
"93%
85
51
52%
..1951 IVI N
Corp 5s stamped 1942
Internat Cement conv deb 4s
1945 M N
{♦IntrGrt Nor 1st 6s ser A
J
1952 J
"28
93
12
91%
23
99%
150
156%
35
35%
96%
86%
97%
96% 102%
12
32
98%
97
87%
231
35%
60%
90
12
150%
65%
45%
94
95%
93%
48
49%
90%
IVI N
107
87%
93%
91
89%
"33
92%
lnt Agrlc
103%
94
*47%
1932
105
108%
102% 103
12
64
95
105
99% 102%
21%
46%
"
105%
94%
"5l"
97
105
84%
*93%
O
1932 A
91%
107%
41
106
106%
94%
86%
71%
92%
88
67%
106% 108%
90
103
103
3%s series D
1961
{ Interboro Rap Tran 1st 5s.. .1966
♦Certificates of deposit
{♦10-year 6s
87
105%
1965
ser B__ 1986
Inland Steel
86
91%
100% 101
"97"
*102%
*.
Week's
Last
Range or
Sale
Friday's
24
Price
115%
34
160%
Bid
&
Low
Leh Val NY
97%
58%
58%
97%
61%
64
63
66
2003 IVI N
71
71
O
1965 A
O
1944 A
O
1951 F
General cons 4%s
General cons 5s
Leh Val Term Ry
lstgu
A
5s...1941 A
g
Lex A East 1st 50-yr 5s
gu
Liggett A Myers Tobacco 7s
5s
98
34
66
73%
79
40
73%
106
106%
7
,124
124
4
133%
*121%
Little Miami gen 4s series A
Loews Inc s f deb 3%s
1962 M N
1946 F A
Lombard Elec 7s
1952
D
*66%
1950
O
1938
D
A
103%
101
104%
101%
102%
98
102%
103%
104
99% 104%
Guar ref gold 4s
Lorillard (P) Co deb 7a
„
.1944 A
O
132
131%
132
131
F
A
122
121
122
118
5s
1951
Louisiana A Ark 1st 5s ser A...1969
J
Louisville Gas A El (Ky) 5s...1952 M N
Louis A Jeff Bdge Co
IVI S
gu 5 4s...1945
Louisville A Nashville 5s
..1937 IVI N
Unified
103%
gold 4s
1940
J
1st refund 5%s series A
1st A ref 5s series B
2003
O
1st A ref 4 %s series C
2003
o
Gold 5s
1941
97%
o
1st A ref 4s ser D
^..2003
o
Paducah A Mem Dlv 4s
St Louis Dlv 2d gold 3s
1946
s
Mob A
1945
108%
1025,6
109%
107%
l02%
A
1980
s
Montg 1st
g
4%s
J
"97%
IVI N
112%
J
111
110%
110
107% 109%
*103%
108%
104
109
14
1025,6
103
26
109%
109%
5
107%
103%
108%
103%
102%
46
103% 110%
"17
103% 107%
101% 104%
102
A
91%
97%
112
103%
103%
100%
O
♦Certificates of deposit
♦2d 4s
D
2013
Manila Elec RR A Lt s f 5s
1953 Ml S
Manila RR (South Lines) 4s...1939 IVI N
108%
26
34
23
47
67
22
47%
60
60
61%
20
55
55%
35%
11
58%
54%
68
3
34%
50%
35%
1943 J
91
93%
,
36
36%
98
90%
*101
87
36
*95
96%
61
95% 100
93%
25
102
104%
75%
92%
87%
98%
87%
3
80
90
IVI N
99%
63
88% 100
F
A
93
93%
10
81%
93%
J
IVI N
82
Jack Lans A Sug 3%s
1st gold
3%s
Ref A impt 4%s series C
1979 J
103%
11
108
103%
16
*11%
100% 103%
11
18%
S
*1%
J
68
91%
Mid of N J 1st ext 5s
142
1940 A
80%
99%
73%
95
MIlw EI Ry A Lt 1st 5s B
1st mtge 5s
2%
2%
7
1961 J
1971 J
D
149
1%
4
95%
96%
26
{{♦MilwANorlst ext4%s(1880)1934 J
1st ext 4%s
1939
96%
84%
{♦K C Ft S A M Ry ref g 4S..1936
♦Certificates of deposit
53
50
1950
93
Apr 1950
1st 4s
50
110"32 110"32
86%
86%
4%s__1961
1960
Kansas Gas A Electric 4%s
1980
♦Karstadt (Rudolph) 1st 6s.-.1943 M N
108%
104%
107
54%
102
106%
40%
57%
"18
51%
2
1HF,6
24
88
87
37%
49
93
108%
108%
105
67
18
104%
13
43
40
42
106
106
30%
35
w
stmp (par $645)..1943
*28
♦Ctfs
w
stmp (par $925)..1943
29
1946
*96
con g
:
96%
9
5s
34%
39
38%
25-year 5%s
32
1st ref 5%8 series B
1st Chicago Term s f 4s._
4 Mb unguaranteed
1961 J
Kings Countf El L A P 5s...-.1937 A
103%
*103%
103%
First and ref 6%s
27%
29
15
1978 J
91%
91%
91%
23
81%
~
"l2
36
49%
94%
94
94%
49
76
94%
1962
1962
85
85
74%
86%
75%
31
74%
53
59%
49%
89
76%
1978
77%
76%
78%
34
52%
80%
..1990
40-year 4s series B
Prior lien 4 %s series D
♦Cum adjust 5s ser A
83
41
66
66
68
45
30%
71
1965
33%
33%
36%
32
27%
37%
26%
36
1975
15
14%
15%
136
10%
..1977
33
33
36%
108
27
16%
37%
33
33
33%
33%
26%
27%
37%
26%
36%
7%
27%
26%
12%
37%
36%
27
37%
Jan 1967
160%
160%
155
1949 F
1954 J
106%
106%
♦General 4s
*115%
*118
I26"
103% 108%
112% 116%
119
*100%
101
♦Certificates of deposit...
♦1st A ref 5s series G
1978 M N
99% 102%
112%
111%
112%
24
40%
41%
26
100%
71%
100
S
104% 113%
27%
42%
{♦Mo Pac 1st A ref 5s
ser A
♦Certificates of deposit
♦1st A ref 5s series F
♦Certificates of deposit
♦Conv gold 5%s
.35
36%
4
122
Coll A ref 5%s series D.....1960
Coll tr 6s series A
1942
Coll tr 6s series B
Lake Erie A West 1st g 5s
2d gold 5s
70%
72
26
66
70
71%
17
64%
80%
80%
73
72%
73%
5
65
87
67%
77
1942
*70
1937
1941
1954
Cons sink fund 4%s ser C—1954
Lehigh A New Eng RR 4s A... 1965
Lehigh A N Y 1st gu g 4s
1945
Lehigh Val Coal 1st Arefsf 5s 1944
s
f 4 Ha A
1st A ref s f 5s
101
1964
1st A ref s f 5s
.1974
1938
1954
161%
101
*100%
104
34%
104
102%
100%
78%
*99
13
35%
93
21
35%
7
98
104%
104%
104
101%
14
"78%
*13
98
104% 105%
57
100%
97
72%
72%
60
62
62
62
60%
60
60%
27
98%
98%
5
97
98%
33
"98%
104
100% 104%
99% 105%
104%
*105%
..1954
1st A ref s f 5s
Secured 6% gold notes
Leh Val Harbor Term gu 5s
98% 102%
70
Lake Sh A Mich So g 3 Ma
1997
♦Lautaro Nitrate Co Ltd 6S...1954
Lehigh C A Nav
1Q1
46
6
54%
63%
98
82%
80%
101%
72%
69%
68
100
98%
1949 IVI N
1980 A O
11%
11%
33%
33%
12%
36%
193
♦1st A ref g5s8erlesH-_
Laclede Gas Light ref A ext 5s. 1939
Coll A ref 5 Mb series C
1953
♦Certificates of deposit
♦1st A ref 5s series I
1981 F
32%
32%
36%
159
{♦Mobile A Ohio gen gold 4s... 1938
♦Montgomery Dlv 1st g 5s. .1947
M
37
98%
S
F
27
A
36%
27
36
98%
"6
82
98%
14%
25
*98%
"23%
"4
13%
13%
15%
23
1938 M S
i
23%
1977 M S
impt 4%s
♦Sec 5% notes
14%
14%
15%
3
9%
16
92
91%
92
13
85%
96
*109%
110
Mohawk A Malone 1st gu g 4s. 1991 M
Monongahela Ry 1st M 4s
ser
S
A'60 IVI N
Mont Cent 1st gu 6s
1st guar gold 5s
1937 J
Montana Power 1st 5s A
1943 J
J
"9
9
16
105% 111
103% 105%
104%
104%
103
103%
107%
12
102% 104%
107%
3
1962
102%
102%
31
Montecatlnl Min A Agrlc deb 7s '37
Montreal Tram 1st A ref 5s
1941
*91%
95
102%
103
106% 108%
97% 104%
97
66%
100% 104%
87
83%
Deb 5s series A
1937 J
107%
103
Gen A ref s f 5s series A
1955
*84%
Gen A ref
1955
*84%
s
f 5s series B
85%
Gen A ref s f 4%s series C..1955
Gen A ref
For footnotes see page 1197.
A
♦Certificates of deposit
♦Mo Pac 3d 7s ext at 4% July.. 1938 MN
♦Ref A
93%
83
40
1997 A
ctfs. .1959 IVI
*93
"40%
J
104% 106%
Kinney (G R) A Co 7 M % notes 1936 J
Kresge Foundation coll tr 4s..l945 J
39
30%
28
105%
122
52
1949 M
*104%
163
42%
23%
18%
1941 M N
'46%
38
13
1954 J
Purchase money 6s
Kings County Elev 1st g 4s
Kings Co Lighting 1st 5s
32%
29
32
Mo Kan A Tex 1st gold 4s
Mo-K-T RR pr lien 5s ser A
107
23
"33
29
115
101%
103%
35%
33%
44%
29
107
102
35%
*32%
43%
1938
1938 J
1946 J
89
3%.
"43%
4s lnt gu.1938
cons
5s gu as to lnt
1st A ref 6s series A...
98
79
*63
6
4
113%
10.0%
100%
88
49%
F
113%
*106
32
1962 Q
1987
*103%
95""
60%
1%
2%
{♦Mo-Ill RR 1st 5s series A.:__1959 J
100%
J
*71%
34%
32
5
96%
J
"32"
88%
83
70
104%
1961
s
"88%
8
92
1961 J
95
'"88%
4%
102
1961
95
101% 105%
106
101%
75
103%
Plain
105%
6%
103%
Stamped
105%
3%
...1948
Kentucky Central gold 4s
Kentucky A Ihd Term 4%s
67%
105
105
s
22
"36"
93
105"
*80
33
*33
♦Ctfs with warr (par $925). .1943
cons
98% 106
1949 IVI
♦Ref A ext 50-yr 5s ser A
1st
94
104% 109%
1934 M N
{♦Minn A St Louis 5s ctfs
♦1st A refunding gold 4s
1st
90
105%
93
3%
29%
102% 104%
105
1939
{♦Mil Spar A N W 1st gu 4s...1947 IVI
{♦Milw A State Line 1st 3%s..l941 J
M St P A SS M
1%
23%
107%
96
107
109%
102% 106%
*40
♦Ctfs w
Keith (B F)
53%
110tt32 113%
88
74%
3
107%
D
James Frank A Clear 1st 4s... 1959
Kan A M 1st gu g 4s
1990
J
13
'31
O
87
80%
106%
110%
109%
102%
77%
Con ext 4%s
105%
109%
72%
96%
93%
103
102
A
84%
♦
"18
105
O
77%
75%
78%
100
*92%
99
89%
f 7s
100
74
80
J
91
IVI
s
71%
99%
80
D
Marlon Steam Shovel s f 6s
1947 A O
Market St Ry 7s ser
A...April 1940 Q J
Mead Corp 1st 6s with warr... 1945 IVI N
Metrop Ed 1st 4%s ser D
1968 M S
100
*81
1959 IVI N
J
{♦Man G B A N W 1st 3%s...1941 J
Mfrs Tr Co ctfs of partic In
A I Namm A Son 1st 6s
35%
*94
1951 M S
..1952 IVI N
79%
90% 101
99
104%
20
D
65%
113
79%
1956 J
59%
2
60
57%
88
102%
47
1st ext 4s
72%
{♦Kreuger A Toll cl A 5s
15
24
.47%
#78%
1977 M
4%s..l952
Corp 1st 6s
Co'5%s
24
44
"78%
O
♦Miag Mill Mach 1st
36%
74%
99%
54
109%
43
D
84%
Kendall
104%
100%
111%
99% 100%
76
80%
Michigan Central Detroit A Bay
City Air Line 4s
1940 J
201
73
99%
89%
.
107%
81
92%
111% 114
86
97%
1
98
105%
55
Gen mtge 4%s ser A
1960 J
{{♦Manati Sugar lstsf 7%s...l942 A
♦Certificates of deposit..
{♦Manhat Ry (N Y) cons g 4s. 1990 A
J
w
"97%
113
107% 109%
1025,6 106
105
"92%
112%
98
D
J
1939 J
......1955 F A
{♦Iowa Central Ry 1st A ref 4s.l951 M S
City Term
103
*114
South Ry joint Monon 4s...1952
Ml N
98%
110%
*108%
"91%
Atl Knoxv A Cln Dlv 4s....1955
♦Lower Austria Hydro El
6%s.l944
McKesson A Robbins deb 5%s_l950
Maine Central RR 4s ser A
1945
F
133%
122%
*108%
110%
o
2003
84
98%
♦Mex Internat 1st 4s asstd
.54
98%
*102"
Metrop Wat Sew A D 5%s....l950 A
{{♦Met West Side El (Chic) 4s.l938 F
"99%
96
45%
74%
104% 106
104% 105%
S
45
Debenture 5s
Kansas
58
74
1937 M N
1949 M S
33
A
137
111
1949 IVI
p m deb 5s
33
J
131
Unified gold 4s
9%
1944 A
103% 107
115
124%
20-year
35
9%
61%
121% 126
97%
34%
9%
1
108
9%
Internet Hydro El deb 6s
Kan City Sou 1st gold 3s
Ref A impt 5s
10
122
*108
*33%
lnt Merc Marine s f 6s
1941
Internat Paper 5s ser A A B...1947
Ref s f 6s series A
..1955
lnt Rys Cent Amer 1st 5s B...1972
1st coll trust
6% g notes
1941
1st lien A ref 6 %s
1947
K C Pow A Lt 1st mtge
134%
234
106
ser
Long Dock Co 3%s ext to
Long Island gen gold 4s
Hloh
72
*33%
A_.July 1952 A
lnt Telep A Teleg deb
g
Conv deb 4%s
Low
55
81%
33%
...1956 J
ser
Jan. 1
Hiah
97%
47%
14%
46%
♦1st 5s series B
♦1st g 5s series C
Since
2003 IVI N
4s
cons g
1956 J
♦Adjustment 6s
Range
Asked
J
1940 J
2003 IVI N
lstgug4%s
Lehigh Val (Pa)
89%
89
90%
75
90
108%
94
82
*96%
89%
39%
99
80
1951
123
87
86
3%s.__195]
_
Western Lines 1st g 4s
1951
111 Cent and Chic St L A N
O—
89
91%
72%
"99"
80
80"
1951
79%
85%
90
101%
64%
84%
103% 106%
*83
1951
37%
124%
68%
*94
1951
Friday
ii
BONDS
N. Y. STOCK EXCHANGE
Week Ended Aug. 21
101% 103%
*90%
F
YORK
A. T. A T. Tele. N. Y. 1-1598
77%
82%
104%
102% 105
87%
79%
81%
1955 M N
,
NEW
;
102%
98%
105% 112
110%
105"
88
M N
St.
Telephone Whitehall 4-2900
14%
102% 105
103
105%
100% 103%
38%
48%
*104
1955 M N
J
..1952 J
Omaha Dlv 1st gold 3s
St Louis Dlv A Term
g 3s
Gold 3%s
116
122%
122 M
*108%
1952
Cairo Bridge gold 4s
Litchfield Dlv 1st gold 3s
Louisv Dlv A Term
Ref A imp mtge
103
*104
.Aug 1 1966
g
103%
102
...1951
Refunding 58...
Springfield Dlv 1st
3
163"
1951
Refunding 4s
g
69%
i95i
Purchased lines 3%s
Collateral trust gold 4s.
40-year 4 %s
79%
10
1951
Extended 1st gold 3%s
1st gold 3s
sterling
Collateral trust gold 4s
;
3
77%
108%
1970
31%
122"
♦
J
1937 J
Houston Belt & Term 1st
J
5s... 1937 J
Houston Oil sink fund
5%s A..1940 IVI N
70
Wall
107% 110%
68
77 M
63
106% 107%
O
A
Hackensack Water 1st 4s
♦Harpen Mining 6s
Members New York Stock Exchange
105
109% 122%
72
11
D. H. SlLBERBERG & Co.
103% 112%
96% 105%
18
J
5^s..Ill
BONDS
FOR BANKS AND DEALERS
99
J
A
Stamped
BROKERS IN
High
103%
100
A
1946 J
Gen mtge 4s ser H
J
1946 J
♦Green Bay & West deb ctfs A
Feb
Feb
♦Debentures ctfs B
Gulf States Steel deb
Jan. 1
*95
100
J
1977 J
Greenbrier Ry 1st gu 4s
..1940
Gulf Mob A Nor 1st 5%s B
1950
1st mtge 5s series C
1950
Gulf & 8 I 1st ref A ter 5s Feb 1952
Since
S3
100
D
Grays Point Term 1st
1195
4
Range
Range or
Sale
STOCK EXCHANGE
Week Ended Aug. 21
Record—Continued—Page
A
s
f 5s series D
1955
88
80
*84 %
86
83
84
86
New York Bond Record—Continued—Page 5
1196
BONDS
RAILROAD
Bought
BONDS
Sold
-
N.
LOBDELL & CO.
{Northern Ohio Ry 1st guar 5s—
♦April 1 1934 & sub coupons.1945
♦Oct 1935 and sub coupons,. 1945
♦Stpd as to sale of April 1 '33 to
April 1 1935 lncl coupons..1945
North Pacific prior lien 4s—1997
Gen lien ry & Id g 3s Jan—..2047
Ref & impt 4 %s series A
2047
Ref & impt 6s series;B
2047
Ref & impt 5s series C——.2047
Ref & impt 5s series D—
..2047
Nor Ry of Calif guar g 5s.
.1938
Broad St., Phila.
Kingsley 1030
Friday
Week's
2>ia
Last
Sj-S
e Js
BONDS
STOCK EXCHANGE
Week Ended Aug. 21
Sale
Range or
Friday's
Price
Bid
&
Low
-.1939 J
2000 J
Morris & Co 1st B f 4%s
Morris & Essex 1st gu 3%s
..1955 M
Constr M 5s series A
.1955
5s—1947
5%-1941
(A I) & Son—See Mlrs Tr—
Constr M 4 %s series B
Mutual Fuel Gas 1st gu g
Mut Un Tel gtd 6s ext at
Namm
J
105
92 %
96%
M N
89
92%
96%
90%
116%
89
116%
116%
*110%
A
92
J
Jan. 1
No.
Low
2
104
33
59
90
>
48
106%
107
104%
104%
,
High
105%
94%
98%
92%
109% 116%
108% 110%
86
92%
104%
57% 73%
102
104%
101% 107
103
*104
106%
90
84
9
103%
66%
*65%
D
Since
92
*
A
Nat Dairy Prod deb 3 %s w w—1951 M N
Nat Distillers Prod deb 4%s_..1945 M N
4 His
1957
♦4%s Jan 1914 coup on
.1957 J
♦4%s July 1914 coup on
1957 J
♦4%S July 1914 coup off——1957 J
105
92
96%
MN
Nash Chatt & St L 4s ser A——1978 F
Nash Flo & S 1st gu g 5s—1937 F
Nassau Eleo gu g 4s stpd
1951 J
Nat Acme 1st s f 6S—
1942 J
High
.
N
Range
Asked
105
D
M N
122
22
103
105
3
3
Nat Ry of Mex pr lien
J
*3
J
*2%
*2%
J
♦4s April 1914 coupon on . . . 1977 AO
♦4s April 1914 coupon off,—1977 A O
♦Assent warr & rets No 5 on *77
♦4s April 1914 coupon off,..1951 A
♦Assent warr & rets No 4 on'51
Nat Steel 1st coll
s
f 4s
1965 J
«,
1954
{♦Naugatuck RR 1st g 4s
1945
.1945
New England Tel A Tel 5s A,—1952
1st g 4%s series B
1961
N J Junction RR guar 1st 4s—.1986
N J Pow & Light 1st 4%s
I960
♦New
England RR guar 6s
♦Consol guar 4s
O
2%
D
106 %
106%
65%
122%
D
J
D
*
J
J
122%
J
J
F
O
J
J
NO & NE 1st ref& Impt 4 %s A. 1952 J
New Orl Pub Serv 1st 5s ser A. 1952 AO
First &.ref 5s series B
1955 J
New Orleans Term 1st gu 4s.. .1953 J
D
J
1956
1954
J
1945 J
1944 MN
Consol 4s series A..
1998 F A
O
10-year 3%s sec s f
—.1946
o
Ref & lmpt 4%s series A....2013
o
Ref & impt 5s series C
:2013
J
N Y Cent & Hud River M 3 %s. 1997
91%
64
65
'102%
59%
105%
102%
115%
125%
115%
60%
4%s series B—......
1973 M N
106%
{♦N Y & N Eng (Bost Term) 4s 1939
{♦N YNH4H n-c deb 4s—1947
99%
106%
*102%
*104%
106%
*100%
A
O
M
S
95
33
103%
102%
34
93%
175
98%
41
108
58
11
"65%
"37
60%
105%
102%
23
90
98
86%
96%
101% 104%
82
103
70%
94%
88
99
105«32l09
106% 108%
59
77%
62
75
19
105% 109%
64
101% 102%
♦Non-conv debenture 4s
1955 J
J
♦Non-conv debenture 4s
1956 MN
..1956 J
♦Conv debenture 3Ha.
♦Conv debenture 6s
J
29
M S
J
D
A
O
N Y A Putnam 1st con gu 4s...1993 A O
N Y Queens El Lt A Pow 3 Ha. 1965 M N
{♦N Y Rys Corp inc 6s.
Jan 1965 Apr
J
Prior lien 6s series A— .——1965 J
N. Y. A Rlchm Gas 1st 6s A..1951 M N
.
N Y Steam 6s series A
1947 M N
1st mortgage 5s
1st mortgage 6s
...1940 F
5s
J
113% 116%
92% 100%
106%
5
12
108
100% 102%
104% 105%
105% 106%
100% 100%
25% 39
24
37
4
24%
11
24%
27
25
38%
37%
37%
37%
"75
23
P>35%
41
Pacific Coast Co 1st g 5s
.1946 J
Pacific Gas A El gen A ref 5s A.1942 J
1st A ref 4s series G
1964 J
N Y Telep 1st A gen s f 4Kb
N Y Trap Rock 1st 6s
Pac RR of Mo 1st ext g 4s—1938 F
.
50
50
*105%
105%
105%
109%
107
52%
106
106%
109%
106%
106
87%
106
87%
*50
32%
103
89
9
A
6
106
3
106
107%
107%
92%
"3
24
63%
53
54
108%
....1963 F A
45
87
"2
46
72
103%
10
100
110%
80%
110%
80%
85%
39
110% 111%
D
85
12%
107%
16%
15%
{{♦Norfolk A South 1st g 58—1941 MN
4s
..1996 O A
4s.
1941 J D
North Amer Co deb 5s.
A
"165"
.Aug 151963
F
1197.
„_15%
13
106
80
80
96
12%
22%
108
8
23
35
26
19
62%
106%
106%
104%
106%
104%
4
15
104
119
103%
53
116%
16%
15%
106
106%
-
...Nov 151969 MN
12%
107%
103%
113%
16%
119""
...1961 F A
-1957 M S
.
O
J
4%s series B_
—1981 J
Pennsylvania PAL 1st 4%s—1981 AO
Pennsylvania RR cons g 4s.... 1943 MN
Consol gold 4s._-.__...
1948 M N
4s sterl stpd dollar May 1.1948 MN
Gen mtge 3%s ser C
1970 A O
Consol sinking fund 4%s
1960 F A
General 4%s series A
..1965 J D
D
O
Debenture g 4%s
General 4%s series D
1981 A O
Gen mtge 4%s series E
1984 J J
Peop Gas L A C 1st cons 6s...1943 A o
..1947 M S
1940 A*0
—
69
—
— — — — —
------
------
------
-
—
—
—
—
------
103%
......
------
------
D
Phlla Elec Co 1st A ref 4 %s_—1967 MN
1st A ref 4s
1971 F A
Phila A Reading C A I ref 5S..1973 J
J
"161%
"H2"
119%
104%
108%
108%
------
------
92
105%
98%
100%
------
—
—
—
—
—
~io6%
------
105%
40
18%
/ Series
Series
Series
O
A
O
MN
V
------
------
------
F
A
------
J
D
"~7
93
105% 108
96% 104
113% 155
22%
12%
21%
12%
51
63%
115
122
3
105% 107%
56
103% 106%
102% 105%
9
105
105
12
103% 106
105%
106%
35
101%
107
120%
1970 J
D
------
1975 A
O
119%
1977 J
J
1st M 4%s series C———1960 AO
91
A
1962
A
{♦Postal Teleg A Cable coll 5s.1953
{{♦Pressed Steel Car conv g 5s. 1933
{♦Providence Sec guar deb 4s—1957
{♦Providence Term 1st 4s..—1956
Pure Oil Co s f 4%s w w
1950
4%s without warrants
1950
Purity Bakeries
s
f deb 5s
J
35
J
----
-----
J
J
J
Gen A ref 4%s series B
1997 J
J
41%
108%
61%
59%
61%
83
97%
102% 151%
32% 42
49% 73
119% 122%
55
60
78%
101
102%
104% 106
....
58
105
102% 107%
101% 105%
90% 99
105
105%
103% 107%
108% 108%
106
107%
3
110% 113%
2
115
111% 115
111% 114%
100% 102%
64
122
18
118% 123
112
35
109
119%
50
115% 120%
99% 105
105% 111%
105% 111%
111%
119%
104%
108%
108%
*120%
113%
91%
2
105
110
109%
108%
120%
36
32
-w
-
-
1
113%
38
93
18%
111%
92
105
105%
22
2
99
98%
100%
♦112%
31
63
100%
-----
----
123
13
114
115% 121
106%
76
9
93
19%
108% 112
98% 105%
89
99
89
•101
111
113
120
124
*114%
118
113
118
*112
113%
110
115%
107
106%
106%
70
2
106%
105%
41%
21%
105
40
18
25
97
144
31
4
30%
108%
109
7
94
....
*112%
*112%
*110%
*106%
*114%
*110
120%
*120%
120
111%
105
109
103% 108%
37
55
15% 32%
25% 34
106% 109
70
85
-----
-
-
—
111
114
-----
;
—
—
——
111
-
----
-
-
-
-
110
113%
110%
-----
*
-
—
-
—
—
-
—
—
-
-
-
-----
-
-
-
-----
-
-
2
120%
-----
-
-
-
-
-
2
108%
110
3
92
93
12
91
103% 107
111% 112%
120%
119%
108%
119%
92
3
18
-
-
92%
-
-
36
112%
102%
*101%
72%
*106%
i03% "~7
105% 106%
111
111
109
113%
108% 108%
115% 121%
118
121
115% 121%
116
121%
107
110
109% 109%
73
93
75
92
74
92%
vv
110
....
110
119% 119%
....
"l02%
------
72%
------
------
1948 J
41
102
J
{♦Radio-Keith-Orph pt pd ctfs
for deb 6s A com stk
(65% pd)... J D
{♦Debenture gold 6s
...1941 J D
Reading Co Jersey Cent coll 4s. 1951 A O
<?
Gen A ref 4%s series A.....1997 J
J
102
114%
30
J
99% 102
93
101% 104%
102% 104%
114%
114%
101%
75%
J
16
107%
111%
111
75%
8
16
96%
105%
*107%
30
M N
----
104
96%
*105%
J
M
73
101% 104%
110%
106%
104
-----
*I6§"
D
1st mtge 6s series B
A
...1953
Port Gen Elec 1st 4%s ser C—1960 M S
1st 5s 1935 extended to 1950.... J
J
Porto Rican Am Tob conv 6s..1942 J
J
104
-
----
107%
107%
103%
D
1st gen 5s series C
----
*111%
*119%
A
1974
1st 4%s series D
.1977
Port Arthur Can A Dk 6s A...1953
.
55
•
*105
*90%
D
1948
106%
110
------
'"92
ser
12
----
----
*102%
*111
------
Pitts Va A Char 1st 4s guar
.1943 MN
♦Pitts A W Va 1st 4%s ser A—1958 J D
1st M 4%s series B
.1958 A O
Pitts Y A Ash 1st 4s
1st gen 5s series B
81%
*111
MN
4%s—...1964 M N
General M 5s series A
General ihtge 5s series B
General 4%s series C._.
-----
*77
*77%
.
A
44
----
70%
123
123
30%
1940
.1942
C 4%s guar.........1942
D 4s guar
1945
E 3%s guar gold
.1949
F 4s guar gold..—...1953
101
85
17
8
Pitts C C A St L 4 %s A.
Series B 4%s guar
25
111%
17
J
Philippine Ry 1st s f 4s
1937 J
Plllsbury Flour Mills 20-yr 6s. 1943 A O
Pirelli Co (Italy) conv 7s.._
1952 MN
1949 M
129
107
38%
1 67%
*121%
*I6i"
100%
122
114%
D
..1967 J
30
56%
107
107
------
J
—1981 J
4
121
123%
108%
98% 103%
105
105
105
"J
1st g 4%s series C—...... 1980 M 8
Fhlla Bait A Wash 1st g 4s....1943 HH
General 5s series B
1974 F A
8
47
------
♦Income 4s
......April 1990 Apr
.Pekln Un 1st 5%s
1974 F A
J
Pere Marquette 1st ser A 5s
1956 J
—
Peoria A
111
103%
N A W Ry 1st cons g
Pocah C A C joint
No Am Edison deb 5s ser A.
-
8
Conv deb 6s
1
"47" "40
55%
■84%
106%
*37%
85
5s..1949 M
General g 4%s series C—... 1977 J
29
62%
4J%
------
D
Guar 3%s trust ctfs C—....1942 J
Guar 3 %s trust ctfs D......1944 J D
Guar 4s ser E trust ctfs..... 1952 MN
General 4 %s series D—
Phila Co sec 5s series A..
....
102
41
56%
♦Paulista Ry 1st ref s f 7s
.1942 M 8
Penn Co gu 3%s coll tr A
1937 M S
Guar 3%s coll trust ser B...1941 FA
1956 J
105
101%
101%
103%
41%
O
Refunding gold 5s
119
*1 (Y7
iUl
1955 J
Peoria A Eastern 1st cons 4s
118
1
10
F
1968 J
,...1970 A
4
100%
101%
103%
"IV
103%
111% 114%
111% 115
109
113%
20
102
J
113%
113%
107
102
...1944 A
General 5s series B
....
112
111
102
121
100
Paria-Orleans RR ext 5
28-year 4s
6
....
52
D
cons
1
....
26
102
39%
109% 109%
104% 106%
—
2
110%
§ {♦Pan-Am Pet Co (Cal) conv 6s '40 J
♦Certificates of deposit
Paramount Broadway Corp—
Pat A Passaic G A E
—
102
103%
Paramount Pictures deb 6s
—
-
109%
O
107
53%
112%
113%
102%
114%
114%
106%
119%
45
106%
109%
Ref mtge 3%s series B
..1966 A
Paducah A III 1st s f g 4%s—1955 J
1955
24
"161%
101%
103%
93%
106
105%
*106%
119%
99% 103
43
----
J
------
]S| s f g 3s loan ctfs
34
D
J
♦1st
....
62%
101%
J
56%
49%
104%
31%
99%
105%
108%
57
86
63%
82%
,
------
J
.1938
-
27%
25%
106%
------
21
"13
---
100%
121
...1937 J
Pacific Tel A Tel 1st 5s
40%
84% 101
110%
♦Certificates of deposit—.
------
Series J cons guar
37%
*106%
114
36
34%
107
*114
——————
*103%
;90%
106%
106%
106
104
------
Series G 4s guar
——.1957 MN
Series H cons guar 4s..
1960 F A
Series I cons 4%a
.1963 F A
36
108
103
12
------
Series
"90%
108
11
105
«.«»•*«• -
28
130
108
112%
113%
*101%
4*
42
42
15
112
109%
99% 109
104%
*109
106%
88
40
A
| {♦Norfolk South 1st A ref 5s.. 1961 F A
25%
30%
40Ji
1950 A O
Nord Ry ext sink fund6%s
-
15%
"l03%
1946 J
1946
6s stamped
-
87%
A
{♦N Y Westch A B 1st ser 14%sl946 j" J
Nlag Lock A O Pow lst5s A...1955 A O
Niagara Share (Mo) deb 5%s..1950 M N
-
21
MN
1939
-
D
51%
26%
1943 MN
Terminal 1st gold 5s—
-
18
5
39
103%
104%
100
Otis Steel 1st mtge 6s ser A...1941 MS
106
94% 100%
103
.
29
16%
1951 M N
1956 MN
N Y Susq A West 1st ref 5s—.1937 J
2d gold 4 Hs
1937 F
22
26
*25%
29%
37%
16%
"29%
♦1st & ref 4%s ser of 1927-1967 J
D
♦Harlem R & Pt Ches 1st 4s_1954 MN
W ref g 4s..—..June 1992
General 4s_.
1955
{♦N Y Providence & Boston 4s. 1942
106%
103%
4
122% 126
102
25%
29%
27%
27%
30%
38%
27
38
NY O A
*42
26
1940 AO
1957 M N
♦Debenture 4s
7
25
25%
28%
28%
27%
J
1948 J
..
♦Collateral trust 6s
126
115%
99%
"26%
26%
♦Non-conv debenture 3%s._1947 MS
♦Non-conv debenture 3%s..l954 A O
11
*106%
N Y L E & W Coal & RR 5 Ha. 1942 MN
J
NYLE4W Dock & Impt 58.1943 J
N Y & Long Branch gen 4s
1941 M S
OR
87
103
97
loo""
"loo"
For footnotes see page
106%
92%
102%
100
108%
74% 92%
*
M
106%
*100%
101% 101%
1st 4s series B
D
A
1973 M N
Deb 5%s series B
.
97%
98
100
J
97% 100
47
107
45
1961 J
93
102
99
30
121
Pa Ohio A Det 1st A ref 4%s A.1977 A
92
69
111%
107%
107%
J
J
Penn-DIxie Cement 1st 6s A...1941 MS
Penn Glass Sand 1st M 4%s
1960 J D
74%
80%
101%
111
43
80
107%
107%
D
119
107
101
75
65
104% 112%
74% 85%
93
103%
1946 J
Guar stpd cons 5s
Ore-Wash RR & Nav 4s
100
126
109r"
Oregon RR A Nav com g 4s
1946 J
Ore Short Line 1st cons g 5s—1946 J
89
107%
*108%
1946 M N
2000 MN
Deb 5s series C.
.1945 MN
109
97
97
N Y Lack & West 4s ser A
gold
Ontario Transmission 1st 5s
82
91
103%
101%
N Y Greenwood L gu g 5s
N Y & Harlem gold 3%s..
General
Ohio River RR gen g 5s
,—1937 A O
Ontario Power N F 1st g—...1943 F A
184
97%
108%
79%
107% 109
115%
100%
75
104% 107%
J
Og A L Cham 1st gu g 4s— ...1948 J
Ohio Connecting Ry 1st 4s....1943 M S
Ohio Edison 1st mtge 4s
.1965 MN
Ohio Indiana A West 5s. .Apr 11938 Q J
Ohio Public Service 7 %s A-. ..1946 A O
1st A ref 7s series B
1947 F A
43%
43%
110
76%
69
24
64
i09
64
....
22
11
100
....
75"
*70
108%
20
32%
M
High
120
121%
112% 115
108
104%
«
Low
106%
22
30-
....
108%
Parmelee Trans deb 6s
.
....
106
80
9
-
108%
52
41
-
106
B—.._—.1961 AO
.1964 MN
J
Northwestern Teleg 4 %s ext..1944 J
Norweg Hydro-El Nit 5%S—1957 MN
3
88% 100
89
99%
80% 94%
36
24%
32% 42
33% 42
108
AO
38%
42%
96%
94%
103%
101%
91%
.
N Y Gas El Lt H & Pow g 53-1948 J
Purchase money gold 4s
1949 F
J
39
106
94%
O
111%
107%
%s
.1968 M
{♦Park-Lexington 6 %s ctfs.—1953 J
65
80
101%
92
37
-
Jan. 1
Ref mtge 5s
119% 123
102
108%
J
39%
101%
101%
106%
A
.1965
35
J
F
J
75
92
07
1st lien & ref 3%s ser D
N Y & Erie—See Erie RR.
99%
94%
96
91
Serial 5% notes.
.1938
N Y Edison 1st & ref 6%s A...1941
100
113%
99%
99%
96
J
126%
-
*120
J
39
*110%
A
Refunding 5%s series A.
1974 A o
Ref 4%s series C—
1978 M S
3-year 6s.. *
..Oct 11938 A O
N Y Connect 1st gu 4%s,A-...1953
1st guar 5s series B
.—.1953
N Y Dock 1st gold 4s.
1951
122
2
No.
High
*121
*70
Q
Q
38%
99%
99%
90%
o
__
27
U-f.
*70
37%
40%
114
1942
1937
3
100
98%
94%
34%
39%
...2013
N Y Chic & St L 1st g 4s
5
105% 107%
98%
Lake Shore coll gold 3Ha
1998
Mich Cent coll gold 3%s._—1998
Debenture 4s
Ref & impt 4%s ser A
122%
78%
99%
94%
N & C Bdge gen guar 4%s
N Y Cent RR conv 6s
126
92
'loo"
38%
37%
40%
...1956
%s series D__
♦1st 5%s series A
103% 107%
77%
61%
120% 122%
58
83%
45% 77%
—
Since
§3
Asked
Ref mtge 4%s ser
♦2d extended gold 5s..
35
60
78%
1954
♦1st 5s series B
♦1st 4
66%
122%
71%
90
{(♦N O Tex & Mex n-cinc 5s..1935
♦1st 68 series C.—
4%
6%
*107%
"91%
6%
1st & ref 6s ser B—
—
------
1941 A O
.....1941 A O
Nor States Pow 5s ser A
•
•m
8
Oslo Gas A El Wks extl 5s.—1963 M 8
2%
P*
107
*122%
*101%
A
A
"6%
3%
125%
125%
MN
New Orl Great Nor 5s A......1983 J
.
*56"
2%
"2 H
5%
3
*3%
*2%
*2%
2%
O
6%
2%
*2%
*2%
J
"4%
2%
*2%
MN
1948 J
Newark Consol Gas cons 5s
"2%
3
♦Assent warr & rets No 4 on '57
Nat RR of Mex prior lien 4%s—
♦Assert warr & rets No. 4 on. 1926 J
♦4s April 1914 coupon on—.1951 A
Bid
Low
8
Range
Range or
Friday's
Sale
Price
North Cent gen & ref 6s
..1974 M
Gen & ref 4%s series A.—.1974 M
Members New York Stock Exchange
Y.
Last
STOCK EXCHANGE
Week Ended Aug. 21
Quoted
—
48 Wall St., N«w_York
123
HAnover 2-1720
A. T. & T.: NY 1-735
N.
Y.
22.,1936
Aug.
Week's
Friday
----——
------
110%
97
*10%
*91
95%
110%
103%
95%
"75%
*100%
75%
------
103
-
-
93
—
-
-
-
37
32%
189
97
13
91%
114%
1
—
—
—
—
—
—
6
60
97%
77% 103%
79% 103
66%
80%
104% 108
64% 82
27% 41%
80
21%
92%
110% 131%
102% 105%
91% 103
158
"75% ""4
100%
106%
106
106%
106%
a
100
9
79
112
104
100
106%
-
"77%
100
------
-
73%
39
22
4
63
158
82%
96% 100%
106
108%
105% 108
Volume
New York Bond
143
bonds
Last
N. Y. STOCK EXCHANGE
Week Ended Aug.
m
S
M
S
Gen mtge 4%s series B
1961 f a
Purch money 1st M conv 5 Ms '64 M n
Revere Cop & Br 1st mtge 4% s_ 1956 j
J
♦Rhelnelbe Union
17
104
104
104
3
M n
*26%
28 m
28
40
28%
28%
7
23%
33%
226
37
35%
47%
103%
"82%
81m
41%
42
*113
18
19
"33"
"28%
"87"
"§
33%
110%
26 m
30%
*110%
68
"87"
79%
79%
67%
81
24
25%
24%
44
"l99
95
22%
20%
95%
67%
67%
2
60%
59
24
95
59%
44%
,
44%
46
*101%
101%
*105%
73
20
*
132
"24%
101%
»
"l7%
104%
18%
104%
17M
104%
j
*105
15
102%
106
1940
1972 j
121
J
1946 J
121
120%
99%
100
99%
110%
114%
J
114%
j
Stamped..
1946 A O
M N
F
28%
♦Certificates of deposit
{♦Atl & Blrm 1st g,4s
1933 MS
{♦Seaboard All Fla 6s A ctfs.. 1935 A o
1935 F
15
14%
4%
4
"~5%
5%
'
6%
5%
5%
9%
7%
8
*14%
7%
4%
96%
97%
167
85%
*1g3%
85%
1
J
97%
1951 M s
56
*
Skelly Oil deb 4s
1951
"99"
Socony-Vacuum Oil 3 Ms
1950
105%
South & North Ala RR gu 5s.. 1963
South Bell Tel & Tel 1st s f 5s. 1941
Gold 4 Ms
Gold 4Ms
"98%
99%
"40
105%
48
So Pac of Cal 1st
con gu g
106%
12
94%
98%
62
S
93%
97%
97%
92%
92%
112%
92%
112%
o
93%
-.1937 J
J
132
75
93%
93%
143
93%
190
113%
27
*104%
105
39%
28%
100% 102%
101% 102%
105
105%
31
17%
16% 27
103% 107%
102% 104%
104% 107%
117% 124%
59% 103%
42%
56
56
24%
96%
103%
114%
106%
102%
80%
87%
76%
77
90
31%
99%
106%
127
108%
106%
95
98%
94
93%
76%
93%
106% 118
106%
101% 101%
1956
95
95
98%
St Louis Dlv 1st g 4s
East Tenn reor lien g 5s
Mobile & Ohio coll tr 4s
1951
1996
"86%
108
105%
Standard Oil N J deb 3Ms
1961
100
Staten Island Ry 1st 4 Ms
1943
19%
cons
Gen refund
s
f g 4s.._.
107%
19
105%
99%
"88%
108
"27
14
100
103%
162
105%
105%
1
96%
*124%
103%
s
166%
100
*110
96%
104
100%
110%
120
6
82
....
.116%
1953
108%
105%
109%
105%
101%
24
102%
112
101»3j2 101' '32
-.2000
102%
*124%
1977
104
106
125
104%
104
104%
104%
105
-.1980
Tex Pac Mo Pac Ter 5Ms A.. 1964
Third Ave Ry 1st ref 4s
1960
♦Adj lnc 5s tax-cx N Y_.Jan 1960 a
102%
*105
1943
1979
105
105%
108%
108%
68%
o
81% 117
107%
105
74% 100%
127
116%
Texas & Pao 1st gold 5s
59
111% 115%
109
29
107% 111%
111
8
103%
107%
104
27
107%
4
85
111
35%
108
106%
106%
106%
29%
71
103% 107%
20
"29%
102%
103%
104%
73%
131
27
33%
*
27%
104
103%
33
27
33%
29%
1944
1944
Utll Power & Light 5%s
113
25
76
29%
Utah Lt & Trac 1st <fe ref 5s
Utah Power & Light 1st 5s
101% 104%
106% 109%
98
103%
125
29%
*28%
f 6 %s series C
118
109
120
1951
s
72
95% 104%
97% 104%
1947
72
72
64
78
1959
Debenture 5s...
s
4s series A
cons g
68%
68%
70%
60
75
88%
88%
89%
85%
95%
1955
f 4s series B
Virginia El & Pow 4s
gu
4%s..l934 J
2%
j
j
d
17%
1955 MN
108%
...
A
ser
Va Iron Coal & Coke 1st g 5s. .1949 ivi
Va & Southwest 1st gu 4s
2003 j
2%
2%
6%
*3
J
1942 J
16%
108%
S
60
J
*106%
"18%
169
108%
23
3
60
94%
109
"il".
20%
106% 109%
'
58
104
"27
70
110
Virginian Ry 3%s series A
1966
ivi
s
105%
105
96%
105%
{Wabash RR 1st gold 5s
1939 ivi
N
102%
102%
103
50
98% 104%
♦2d gold 5s
1939 f
A
,92%
92%
93%
10
1st Hen g term 4s
1954
J
78%
78%
1
84%
67%
,1941
j
*102
Des Moines Dlv 1st g 4s—1939
Omaha Dlv 1st g 3%s
1941
J
*75
o
*67
70
*97%
98%
1st cons 5s
1958 a
Det & Chic Ext 1st 5s
gen
o
.1941 ivi
5Ms A.1975 ivi
96%
s
77
97%
103% 105%
96%
"76"
78%
60
54
32%
33%
"53
32
"32%
lei
33
32%
33%
"43
77
89
34%
98%
32%
1978 AO
'32%
1980 a
1955 a
S
ivi
S
1941 ivi
F
98H
28
65
41%
69
61%
64
41%
69
77
83
29
"99%
A
105% 108%
109% 110%
110
110%
110
124
124
121% 125
121%
121%
119
123
108
,110
S
*109
J
102
112
101%
102%
j
107%
107%
106
J
101%
101%
101% 104%
110
110
A
O
J
35
35
34%
34%
i""3
105%
105%
1950 ivi n
1951 J d
1960 ivi s
30-year 5s
94% 101
*110%
s
Funding & real est g 4%s
25-year gold 5s
46%
J
o
107%
107%
106
105%
108%
Western Union coll trust 5s—1938
100
103% 108%
d
ivi
1946
92%
86
f
1946
♦5s assented
84
71
98%
29%
a
..1937 j
1943 a
Gen gold 4s
70
90
96%
*108%
—1961 j
{♦Western Pac 1st 5s ser A
78%
79
29
108%
A
1939 J
West N Y & Pa 1st g 5s
32%
36%
33
76%
f
Westchester Ltg 5s stpd gtd—1950 J
West Penn Power 1st 5s ser E.1963 ivi
1952
1977
26
65
S
"96%
"61%
Western Maryland 1st 4s
1st & ref 5 Ms series A
"87
24%
88
76%
o
1939 ivi
1st 40-year guar 4s
Wash Water Power s f 5s
35%
106%
o
1945
1945
36%
32%
26
25
o
1955 a
3%s._2000
38
34
27
25
*32%
Wash Term 1st gu 3 Ms
26%
26
a
1st mtge 4s ser II
81
100% 102%
72
82%
34
s
1976 F
108%
96% 102%j
2
18
35%
35%
105%
48
27
109
106
110%
32%
32%
105
„
44
42%
107
108%
1C6M
42
103
54
103% 106%
109
39
104
108%
109
♦Westphalia Un El Power 68—1953
j
J
25%
26%
9
22%
33%
j
J
93
22
85
96
j
J
93%
88%
22
81
92%
68%
109%
69%
38
37%
38%
125
103
48
86%
*105
Wheeling & L E Ry 4s ser D..1966 M s
RR 1st consol 4s
.1949 M s
104
A
101%
101
1940 M n
100%
100
100%
WheeUng Steel 4 %s series A—1966 f
White Sew Mach deb 6s
"3
111%
101%
111%
86
107%
107% 112%
99
101%
90
101%
{♦Wlckwire Spencer St't 1st 78.1935
j
♦Ctf dep Chase Nat Bank
♦Ctfs for col & ref codv 7s A. 1935 MN
j
D
j
Wilson & Co 1st M 4s series A. 1955 J
j
24
D
Wllk & East 1st gu g 58
Will & S F 1st
1942
1938
gold 5s
7
24
J
.65%
25
24
25%
115
64%
65%
14
*100
107%
101
"48
102
109
101%
18%
18%
31
45
67
31%
106% 107%
99% 102
j
109
2
24
49
15%
25%
20
20
5
15%
25%
14%
14%
16
37
j
J
23%
20
Winston-Salem S B 1st 4s..—1960 J
{♦Wis Cent 50-yr 1st gen 4s...1949
♦Certificates of deposit
{♦Sup & Dul div & term 1st 4s '36 MN
{♦Certificates of deposit
J
♦Wor & Conn East 1st 4%s
1943 j
"23%
*11
15%
*10,
25
111%
107
9
16
9
14%
21
21
104
107
Youngstown Sheet & Tube—
Conv deb 3%s
...
1970 a o
..1951 f A
...1961 m n
122
121%
127%
386
102%
102%
102%
91
105% 128J
98% 102'
102
110
116
31
88%
105
94
2361
2361
Registered
1st mtge s f 5s ser B
96%
j
1951
86%
1944
Debenture 3Ms
Tex & N O con gold 5s
Gen & ref 5s series D
98% 100%
"94% "~23
*103%
Texarkana & Ft S gu 5 Ms A..1950
Texas Corp conv deb 5s
1944
Gen & ref 5s series B
Gen & ref 5s series C...
94
105%
4 Ms.-1939
gold 5s
297
82
102"
1947
1st
4
24
92
*102%
{♦Spokane Internat 1st g 5s... 1955
Staley (A E) Mfg 1st M 4s
1946
1944 ivi
20%
105%
100%
92% 108
53
78%
68%
95%
99
71%
85
99%
78
94%
97% 103
57%
88%
104% 108%
34
14%
104% 106
308
*100%
"94"
1938
Tenn Cop & Chem deb 6s B
116%
120
Washington Cent 1st gold 4s. .1948 Q ivi
105% 109
94%
97%
81%
88%
Devel & gen 6 Ms
Mem Dlv 1st g 5s
Tenn Elec Pow 1st 6s ser A
J
♦Deposit receipts
91
Term Assn of St L 1st g
123
30%
♦Warner Bros Co deb 6s
91
o
111
101%
113%
{♦Warner-Qulnland Co deb 6s. 1939
1956
1947 a
122%
22
*29
A.. 1947 j
21
17%
119
115%
*113
ser
104% 106%
5
101
103%
90%
89%
99%
104% 107%
120%
s
1944 ivi
6s debentures.
"73
B
D
120%
114%
114%
108%
110%
{{♦United Rys St L 1st g 4s__.1934 J
j
U S Pipe & Fdy conv deb 3
%s-.1946 ivi n
U N J RR & Can
gen 4s
Warner Bros Plct deb 6s
107%
77%
94%
or
1968 j
_
Walworth Co 1st M 4s..
75%
Tenn Coal Iron & RR gen 5s_.1951 J
'108%
S
♦Certificates of deposit
Walker (Hiram) G&W deb 4%sl945
106%
Tecr Cent 1st 6s A
114%
♦Ref & gen 5s series D
75%
♦Studebaker Corp conv deb 6s. 1945
Swift & Co 1st M 3%s...
1950
S
June 2008 ivi
120%
.21
"l7
19
18
♦Certificates of deposit
106%
d
..June 2008 m
Gold 4s
106%
♦Ref & gen 4%s series C
♦Certificates of deposit
1956
1964 J
1st Hen & ref 4s
1st Hen & ref 5s
105%
♦Certificates of deposit
1994
S'west Bell Tel 3 Ms ser B
Union Oil of Calif 6s series A.. 1942 F A
12-year 4s conv deb.
1947 ivi n
Union Pac RR 1st & Id gr4s_—1947 J
j
♦Ref & gen 5s series B
1955
1938 M s
106%
107%
Toledo & Chic Dlv g 4s
99% 106%
5s
105%
O
{♦Wabash Ry ref &
155
cons g
o
{{♦Union Elev Ry (Chic) 5s_..1945 A
79
6
{♦Vera Cruz & P 1st
{♦July coupon off
106%
1st 4s stamped
Union Elec Lt & Pr (Mo) 5s...1957 a
Un E L & P (111) 1st
g 5%s A.. 1954 j
J
95
♦Vertientes Sugar 7s ctfs
105""
Devel & gen 4s series A
Devel & gen 6s.
94%
71
105
Southern Ry 1st
94%
22%
95%
105
j
1955 j
*71%
S
s
West Shore 1st 4s guar...
5s_.1937 M N
So Pac Coast 1st gu g 4s
So Pac RR 1st ref guar 4s
"l2
107%
106
94
93%
92%
1950 a
6
105%
1981 M N
Gold 4 Ms
San Fran Term 1st 4s
62*
30
1969 ivi N
.
"56" "l2
107
106
8
A
f 7s
Warren RR 1st ref gu g
*125
1947
1968 ivi
61%
61%
1946
So Pac coll 4s (Cent Pac coll). 1949
1st 4Ms (Oregon Lines) A... 1977 ivi
1952 f
f 7s...'.1945 M
sec s
50
43
d
Southern Colo Power 6s A
♦Guar
Uijlgawa Elec Power
107% 107%
"53
1935 j
a
90% 100
84%
96%
106% 108
16
4
1952 J
1941 F
130
115
*108%
110
Shlnyetsu El Pow 1st 6 Ms
♦{Siemens & Halske s f 7s
SIlesian-Am Corp coll tr 7s
Silesia Elec Corp 6Ms
100
*108%
12
9
9
3
f 6%s__.
*c
conv 6%s—1943 M n
♦Tyrol Hydro-Elec Pow 7%s..l955 ivi n
121
A
3
107%
s
120
1957 M n
17
107%
♦Debenture
*121%
Cons
38
1951 ivi N
s
101% 106""
120% 122
*104%
J
Vandalla
"~7
deb 4 Ms
Shell Union Oil deb 3 Ms
1951 ivi
deb A..1953 j
conv
25%
4%
conv
*109
1942 M s
27%
119
*3%
Sharon Steel
Tri-Cont Corp 5s
Truax-Traer Coal
77%
86%
99% 107%
96% 102
14%
13%
76%
1
a
♦Series B certificates
12
36
48
80
O
8
15
'
1945 M s
30
14
14
•Certificates of deposit.
6s series A
High
100% 103%
Vanadium Corp of Am conv 5s_1941
'""3
29%
*118
A
O
Low
17%
35
28
O
o
1959 A
{♦Refunding 4s
a
a
;
6
29%
1989
I {♦Seaboard Air Line 1st g 4s. .1950
I ♦Gold 4s stamped
1950
♦Adjustment 5s
Oct 1949
105%
101%
78%
102%
25%
28%
1
114%
*25
27
Scioto V & N E 1st gu 4s
105%
101
D
o
101%
D
1960 J
102 %
{♦Universal Pipe & Rad deb 68.1936
51
110%
'
s f 6 Ms series B
Stamped.
Jan. 1
15
102
*
"161%
Santa Fe Pres & Phen 1st 5s. .1942 M S
cons
27%
34
*102
S A & Ar Pass 1st gu g 4s
1943 j
San Antonio Pub Serv 1st 6s. .1952 j
♦1st &
86
15%
14%
3
62
23
..1937 j
Guar
75
81
j
Schulco Co guar 6 Ms
51%
25
j
St Pahl Un Dep 5s guar....
79
80%
"eo"
f
1953 j
1950 a
8
102%
Corp 6Ms A.. 1951
34%
20
j
1943 J
No.
Since
Si
♦Sink fund deb 6%sser A...1947
71
23
1937 j
{♦St Paul E Gr Trk 1st 4 Ms—.1947
J
Toronto Ham & Buff 1st g 4s..l946 j D
Trenton G & El 1st g 5s
1949 ivi S
U S Rubber 1st & ref 5s
♦Un Steel Works
9
37
19%
{♦St Paul & K C Sh L gu
St Paul Minn <fe Man 5s
1st 6s dollar series
Tol & Ohio Cent ref &
Imp 3%s
Tol St L & W 1st 4s
Tol W V <fc Ohio 4s ser C__.
♦Sec
20%
4s. .1968
43
78%
78%
19%
1937 j
24
42%
24%
107% 110%
103
105%
87
m's '"20%
..1990 J
Asked
High
<Sc
'
United Biscuit of Am deb 5s. .1950 A O
United Drug Co (Del) 5s
1953 ivi s
92
81
1989 MN
35
78
20
♦2d g 4s lnc bond ctfs..-Nov 1989 J
♦1st terminal & unifying 5s__1952 j
24%
85
23
♦Ctfs of deposit stamped
76% 90
54 <
37%
112% 112%
107% 109
13
22%
80
36
j
107%
52%
94%
80
*21
4M3-1941
25
19%
*23
1950 J
Mont ext 1st gold 4s
tPaciflc ext gu 4s (large)
35
90
*75%
con g
103
50
81M
5a.,.1948
St L Rocky Mt & P 5s stpd
1955
{♦St L-San Fran pr lien 4s A...1950
♦Certificates of deposit
1937 J
Range
Friday's
Bid
49
206
gu
Guaranteed 5s
33%
45%
♦Certificates of deposit
♦Gen & ref g 5s ser A
33%
23
45%
St Joe & Grand Island 1st 4s
1947
St Jos Ry Lt Ht & Pr 1st 5s_..1937 MN
St Lawr & Adir 1st g 5s
j
1996 J
St Paul City Cable cons 5s
23
7
42%
1948
{♦St L SW 1st 4s bond ctfs
2
*108%
1978
34
28%
27m
1962
♦Certificates of deposit
♦Con M 4 Ms series A
126
95% 100%
109%
102% 105
34
27%
28%
21%
106
Range or
Sale
Low
Third Ave RR 1st g 5s
43
1949
♦Prior lien 5s series B
106
Last
Price
Tokyo Elec Light Co. Ltd—
24
*90"
2d gold 6s...
1996 A O
St Louis Iron Mt & Southern—
♦JRlv & G Dlv 1st g 4s —1933 ivi N
I?
High
110
42%
,1939
Rut-Canadian 1st gu g 4s..,—1949
Rutland RR 1st con 4 Ms
1941
St Paul & Duluth 1st
40
23%
*
& Louis 1st 4Ms—1934
{♦St L Peor & N W 1st
106
43
1977
f 6s
Low
*102%
{♦Rio Grande West 1st gold 4s_1939
s
103
1955
♦1st con & coll trust 4s A
Roch G & E 4 Ma series D
Gen mtge 5s series E.
*121
99
109
,1952
_
115%
98%
23%
m N
_
42
108
*28%
*55 a O
1944 ivi N
Rlchm Term Ry 1st gu 5s
♦Rlma Steel 1st s f 7s..
♦Rio Grande June 1st gu 5s.
♦Ruhr Chemical
113""
98 %
J
♦Certificates of deposit
No.
109
warr
I {♦Richfield Oil of Calif 6s
{{♦R I Ark
113"
1952 m N
1953 F a
♦Direct mtge 6s
N. Y. STOCK EXCHANGE
Week Ended Aug. 21
112%
J
♦Rhine-Westphalla El Pr 7s__.1950
♦Cons mtge 6s of 1928
♦Cons M 6s of 1930 with
High
108
107%
*
1953 j
♦Rhine-Ruhr Water series 6s
bonds
Since
Jan. 1
Asked
&
1946 j
f 7s
s
107%
ivi N
Range
Friday's
Bid
LOW
Remington Rand deb 4%s W w.1956
Rensselaer & Saratoga 6s gu
1941
Republic Steel Corp 4 %s ser A_1950
1197Week's
Friday
Ranye or
Salt
Price
21
Record—Concluded—Page 6
Week's
Friday
1st mtge s f 4s ser C
111%
118%
105% 111%
87% 107
1011332105
101
102%
99% 105
117% 126%
98
105%
97
105%
97
105%
105% 109%
57%
71%
22%
43
e
Cash sales transacted during the current week and not included in the
yearly
range;
French 7s unstamped 1949, Aug. 11 at 175.
r
Cash sale only transaction during current week,
transaction
during current week,
current week.
n
a
Deferred delivery sale only
Under-the-rule sale only
{ NegotiabiUty Impaired by maturity,
at exchange rate of $4.8665.
transaction
during
t Accrued interest payable
,
t Companies reported as being In
bankruptcy, receivership,
or
reorganized under
Section 77 of the Bankruptcy Act, or securities assumed by such companies.
*
Friday's bid and asked price.
selUng flat.
Deferred deUvery sales
In the yearly range;
z
No sales transacted during current week.
transacted during the current week
No sales.
A
♦ Bonds
and not Included
New York Curb
.1198
NOTICE—Cash and deferred
delivery sales
are
disregarded In the week's
regular weekly range are shown in a footnote in the week in which they occur.
In the
•week
range,
unless they are the only transactions of the week
the New York Curb Exchange for the
It is compiled entirely
^covered:
occurred during* the week
which any dealings
Last
Par
Week's
Sale
STOCKS
of Prices
Low
High
Price
Adams Millis 7 % 1st pf
Aero Supply Mfg cl A
100
*
Class B..
*
1
10
Agfa Ansco Corp com
Ainswortb Mfg Corp
Conv preferred-
44%
for
Shares
May
46%
Jan
113%
Mar
106
30
99
June
25
25
200
15
Jan
3%
9%
1,200
100
53
55
1,200
3
3
3
200
X
59%
79%
80%
300
70
71%
140
%
..*
$6 preferred
Allegheny Steel 7% pref100
79 %
Allen Industries com
23
"23" "25"
2%
150
"~i%
""300
2%
500
1
1%
2% June
Apr
% June
Jan
37%
67%
Feb
Mar
22
22%
200
62%
4%
35
*
123
123
133
1,150
100
Aluminum Co common.
6% preference
119
119
120
..
Feb
Mar
Feb
1%
62
Mar
July
July
84
76
Feb
19
Apr
27
July
Aug
Jan
4%
Feb
1
Feb
17
June
June
P1
Jan
87
Jan
152
300
109
Jan
121%
15
Feb
25%
Feb
Mar
Apr
17%
17%
500
58%
58%
100
45
Jan
100
17%
Aluminum Goods Mfg..
Aluminum Ind com
87
Jan
101
Mar
...100
2%
American Beverage com__l
American Book Co
100
2%
70
69
....
American Capital—
Class A com
300
20
10c
IX
1%
1%
May
13%
Mar
75
Mar
Class B
1
6X
Amer Cyanamid class A. 10
Class B n-v
10
2,900
35%
6%
33
33
250
44%
7%
7,700
5
Amer Foreign Pow warr...
3
Amer Fork A Hoe Co com*
21
Amer Gas & Elec com
*
43 X
*
112 X
Preferred
American General Corp 10c
$2 preferredl
$2.50 preferred
3
3%
22%
43% 45%
112% 113%
9
9%
33%
34
21
9
33
X
37
37
1
5
38
Amer Hard Rubber com.50
32
32
32
Amer Laundry Mach
Amer Lt A Tr bom.
20
25
25
22%
24%
22%
26%
23%
30
30
25
100
Amer Maracaibo Co
1
Amer Meter Co
*
"36"
,S16
25%
400
9
Feb
2
Feb
Jan
Jan
36%
91%
Mar
Feb
2,600
7%
Jan
Jan
Aug
30G
29
*
Angostura Wupperman..l
Apex Elec Mfg Co com...*
Appalachian El Pow pref. *
5%
26 X
110X
Arkansas Nat Gas com...*
Common class A
*
5%
Preferred
5X
10
Arkansas P A L $7 pref
*
Art Metal Works com___.5
Amer deposit rets.
Assoc Gas A Elec—
J an
Jan
40
X
2%
2%
200
2%
Mar
3
10%
X
11%
6,900
7%
Jan
%
1,100
X
Jan
Burma Corp Am dep rets...
Butler Brothers
.10
Cable Elec Prod v t c.
Cables & Wireless Ltd—
700
32
200
4
27%
400
110% 112
1
1%
6
5%
180
300
5%
6
9%
3,100
5,600
9,300
13,600
10%
13%
8,500
100
l
IX
1%
1%
May
June
1%
4%
13
.
Jan
Jan
Mar
104%
%
3%
3%
7%
Jan
Jan
Jan
Jan
Jan
June
9%
l
IX
*
11X
1%
11%
1%
11%
3,900
$5 preferred
10%
700
Class A
46
Cataiin Corp of Amer
Jan
Jan
27%
Mar
25%
July
30 %
J an
99%
63%
4%
Jan
Jan
Feb
Feb
2% Aug
7% June
31
July
112
Aug
4
Feb
7%
Mar
7%
9%
Mar
Aug
Jan
96
13%
Aug
Jan
2%
9X
13 X
2%
47%
9%
9
33
2%
13%
52%
2%
14%
52%
3%
11%
11%
12
IX
Automatio Products
32
1%
1%
9%
9%
*
*
Feb
3%
Feb
Jan
14%
Feb
'32
Jan
June
May
Jan
Jan
300
800
1%
28%
'32 July
% Feb
%
Feb
3%
Feb
48%
July
5
2,500
20
11,400
100
Aug
88
Aug
92
Atlantic Coast Line Co..50
Atlas Corp common.
*
Atlas Plywood Corp
Austin Silver Mines
2%
Aug
88
RR Co pref
100
Atlanta Gas Light pref. 100
Atlantic Coast Fisheries..*
$3 preference A
Warrants
13%
Jan
*16
45%.
Jan
5%
%
45%
Apr
94
June
16%
38%
Feb
16%
Feb
55
Jan
8% June
Jan
51
5,100
2% July
7% May
1
July
8%
Apr
1,400
1,100
Jan
June
11% May
28
2,000
Automatic-Voting Mach.*
4%
Feb
12
Aug
1% June
11
Mar
Jan
Aug
12%
July
7 Ye
55Jan
Axton-Flsher Tobacco—
47
10
..
47
90
Class A common
90
10
40
275
70
5%
5%
"166
Bellanca Aircraft com_.__l
Bell Tel of Canada
100
*
"560
2
"14%
%
14%
23%
23%
18%
18%
3
Blue Ridge Corp com
3
$3 opt conv pref
Blumenthal (S) & Co
*
45
43%
*
21%
21
Bohack (H C) Co com
*
10%
55%
13%
55
7% 1st preferred....100
Borne-Scrymser Co
25
Bourjois Inc..
26%
Bridgeport Machine
Brill Corp class B
*
18%
2%
*
4%
100
*
13
3
Bower Roller Bearing
5
Brazilian Tr Lt & Pow...*
Class A
10%
123
1%
4,800
%
13%
24%
20%
3%
45
2,900
3,600
23%
11%
56%
13%
3%
1,700
100
11%
27%
18
20
2%
11%
36%
28
37
2%
4%
37
28
4%
1,700
800
350
210
1,450
500
5,300
900
4,500
200
300
3
650
29
50
26%
June
May
4%
Jan
14%
Jan
July
July
2%
Aug
%
Jan
19%
Aug
Mar
35%
Jan
18% July
13%
Jan
2% Apr
43% June
14% July
5
July
34
May
12% Apr
3% July
20% May
9%
Jan
13%
Jan
1%
Jan
7%
*
Feb
July
Jan
Jan
Apr
Mar
6% pref without
7% preferred..
warr
100
2%
14%
7,700
1%
100
14%
2%
2%
2,500
Jan
21
2%
26%
600
3%
26%
200
Feb
5
Mar
2% May
18%
Jan
100%
120
15%
13%
16%
22,700
7%
Apr
16%
16%
16%
400
16%
Aug
52
52
99
"9%
103
9%
9%
50
3,600
250
104
103
86
Jan
75
Apr
40
Apr
9%
99% May
107%
Feb
9% July
30
31%
100
30
17
17
17%
200
87%
14%
68
78%
.
77%
2%
2%
2%
21%
2%
21%
78%
2%
2%
23%
305
July
Mar
4%
Feb
Feb
1%
1%
Apr
Jan
475
18%
31%
Feb
16% May
52%
10,500
38
Jan
52%
Aug
28%
%
28%
200
24
Jan
"""%
,516
1,100
34%
Apr
1% May
46%
75
Jan
59
4%
58%
4%
58%
5%
46%
4%
%
34%
Jan
46%
61
'
5%
28,200
1,300
100
3
Jan
,41%
Jan
3% May
63
70%
61%
50
43
Jan
May
65%
16%
3,700
11
Jan
19%
Aug
July
Apr
4%
July
61%
15%
15%
3%
%
13
200
%
8
8
100
8
51
52
300
41
8%
8%
9%
2,000
'2%
2%
2%
300
Corroon &
8%
52%
16%
6
3%
8%
Feb
Aug
Aug
Feb
Feb
Jan
1
48%
103
48%
103
3%
3%
May
7
July
12
Mar
4
Mar
73
1%
300
51%
1,000
42
July
May
2,550
93
Jan
109
3%
%
3,800
%
Jan
Apr
Jan
116%
July
5%
Mar
36
105
105
108
2,200
18,400
2
716
1%
42
2%
13%
13
13%
1,000
18%
4%
18%
19%
4%
4%
91
91
5,900
4,900
1,000
%
%
1%
"38%
38%
2
200
175
800
93%
8
1,200
40
Mar
45
Jan
97
Jan
117
July
X
Apr
1% June
13
Jan
1 %
Jan
'is July
11%
Jan
46% May
14% July
3% June
84
Jan
3% May
99
100%
90
Jan
2
100%
May
450
88
Jan
250
12%
17,300
9%
X May
1
12%
13
18
17%
19%
49
47%
7%
3%
50
*
*
Aug
Feb
1% May
1%
8
June
7
pf 100
*
7%
5
__
Jan
Jan
Aug
May
3%
7
Corp
Feb
June
61%
99
$3 preferred A
Feb
42%
69
5
Copper Range Co
6%
Mar
June
40
69
8% preferred w w.,.100
Consol Royalty Oil
10
Cont G A E 7 % prior
_
7%
66
50
69
*
Consol Retail Stores
Jan
49%
.
Alrcraftlllll
Feb
Mar
_.i
Secur $3 pref
22
Aug
124%
"*
Consol Copper Mines....5
Consol G E L P Bait com. *
56
May
.
Consolidated
b
105
Cockshutt Plow Co com..4
Cohn &
Rosenberger.
._*
Colon Oil
Corp com...
4
Community P A L $6 pref *
Community Water Serv. 1
Aug
k
3
400
_
1
Jan
o\ly
120%
119
•"!
Commonwealth Edison" 100
Commonwealth A Southern
Warrants...
Commonwealths Distribll
Jan
17
Feb
Chief Consol
Mining Co..l
Childs Co pref
100
Cities Service com
*
Columbia Oil <fe Gas
Columbia Pictures.
Jan
30%
6%
51%
Colt's Patent Fire Armsl25
Columbia Gas <fc Elec—
Conv 5% preferred.. 100
Jan
5o
44
300
Cleve Elec Ilium com....*
Cleveland Tractor com
*
Clinchfield Coal Corp .100
Club Alum Utensil Co
*
Jan
lu-
Jan
17
$6 preferred.
*
City Auto Stamping
City A Suburban.Homes. 10
Claude Neon Lights Inc__l
Clayton A Lambert Mfg. *
Jan
116
Feb
x4% May
Preferred BB
Cities Serv P & L $7
pref. *
116%
31 4
600
*
July
Mar
Jan
Jan
5
Preferred
Preferred B
66%
16%
Aug
Aug
H
""4%
16%
July
78%
Centrifugal Pipe
*
Charls Corporation
10
Chesebrough Mfg.
25
Chicago Flexible Shaft Co 5
Chicago Rivet & Mach... *
16%
July
81
42%
Aug
93%
16%
19%
102
3,000
1,450
102
Apr
Apr
6,400
•
26%
Aug
July
Jan
4
8%
4%
1,200
400
7,700
34
Aug
Jan
Jan
6%
3%
%
Feb
1% May
Aug
Mar
44%
3%
1%
Jan
16
Feb
49
23%
6%
94%
8%
105
Apr
Jan
Apr
Aug
Aug
Mar
Jan
3%
101% June
2
13%
19%
50
Feb
Aug
Aug
Jan
9
Aug
Apr
Aug
8
Mar
8
Feb
Reynolds—"""
Aug
Aug
Common
18
Feb
$6 preferred A
1
5%
....*
1
5%
71%
"~2%
"loo
13%
2%
13%
12%
12%
Feb
dep rets ord reg
£1
Cramp Ship A Engine.. 100
Feb
Crane Co
Feb
1%
May
Cord
July
Mar
Jan
Feb
22
17
12
4%
8%
53%
10%
29%
2%
Jan
AUg
Aug
20
Cosden oil com
....
Preferred
5%
900
71%
3%
Jan
77%
5,900
1%
Jan
4%
15%
1,300
6%
Jan
17
11% May
15
100
4% June
65
Feb
Feb
Feb
Courtauld's Ltd
Am
Preferred
13
"35"
"34% "36%
......100
133%
20%
11%
132% 133%
20%
21%
10%
12%
"l6
,316
Creole Petroleum
....5
Crocker Wheeler Elec....*
Croft Brewing Co
1
....
•
200
Jan
% June
.25
com
Grown Cent Petroleum.. .1
1203
1%
14%
July
July
50
66%
21
Feb
5%
100
Mar
Mar
Feb
Aug
Aug
12%
11%
6%
200
53%
Cooper Bessemer com.... *
29%
15%
38
37%
1,400
24
Continental Oil of Mex..
Cont Roll A Steel Fdry..
Feb
Aug
July
100
7%
6%
30
Feb
6%
Mar
22%
4%
Feb
Jan
32
49%
June
Feb
Jan
29
30
4%
Jan
Feb
30
40
53
1%
9is
5%
49%
27
25%
Aug
Mar
July
May
100
Conv preferred
100
Conv pref op ser '29.. 100
Crowley Milner & Co
For footnotes see page
38
*
Aug
151
160"
*
vtc—
Compo Shoe Machinery..1
Connecticut Gas A Coke—
Feb
Jan
"2%
*
Como Mines
Jan
17,300
$7 div preferred
1st preferred
Feb
,70
4%
11%
2%
May
5
6%
5%
7% Prior preferred... 100
Celluloid Corp com
15
Aug
Jan
2%
%
14%
25%
11%
1
6
2
11
2%
Mar
Feb
16%
"2%
10
Celanese Corp of America
7% 1st partic pref... 100
2%
July
Aug
3%
$2.50 conv pref
Black A Decker Mfg Co..*
Bliss (E W) A Co com
*
103
121
2%
~~1%
*
.
Apr
142
2%
Bell Tel of Pa 6%% pf.100
Benson A Hedges com
Convertible pref...
Berkey, A Gay Furniture. 1
3%
51
.100
Purchase warrants
Bickfords Inc com
Jan
%
warr.
Baumann (L) A Co com.
Casco
Jan
Mar
200
Assoc Laundries of Amer. *
Vtc common
*
Associated Rayon com..
Associates Investment Co *
Atlanta Birm Coast—
.*
Feb
12
39%
43%
3,950
'16
Class B
Feb
1,700
332
25c
Apr
Carman A Co—
Aug
Jan
38
6%
*
4%
Common
Option warrants
Capital City Products
Carib Syndicate
29%
1% May
21% Apr
2
Apr
2%
5%
13%
1
Aug
Feb
%
24%
._*
Cent Maine Pow
7% pf 100
Cent P&L7% pref
100
Cent A South West Util—1
Cent States Elec com
1
46%
4%
13%
non-voting
Canadian Marconi..
3%
X
1
e
6% preferred
100
Canadian Indus Alcohol A*
CentHudG&E
82
2%
5%
26%
X
Calamba Sugar Estate..20
Canadian Hydro-Elec—
Feb
50
10%
*
Feb
Jan
83
12 X
£1
7% preferred
33 X
200
Products.
Castle (A M) & Co
Industries
Brillo Mfg Co com..
Class A
25
716
Aug
400
Mar
36%
1%
39%
2%
14,000
Aug
85
716
31
2%
93
72
36%
Jan
9ts
18
Jan
Jan
Jan
*
Feb
Aug
July
Jan
25% July
107% June
Jan
,48
51%
1%
$3 convertible pref
Warrants
Jan
Aug
103
100
5
Feb
Mar
July
1,200
Carnation Co com
*
Carolina P <fe L $7 pref...*
$6 preferred
*
Carrier Corporation.
*
24%
16%
12%
50
3%
Jan
28%
550
Apr
Mar
81%
14
125
500
50
Jan
Aug
15%
10%
"is
3%
10
200
9%
IX
7% 1st pref
72
79
_
Apr
Jan
Jan
Feb
4,000
4%
"~2%
1
Arcturus Radio Tube
Babcock A Wilcox Co
Baldwin Locomotive
70
700
106
Aug
Jan
39%
23%
3%
30%
...*
com
19%
17%
25%
1
43
43
5
Elec
72
79
106
June
8
Bunker Hill A Sullivan.
Feb
114%
30 %
Mar
Feb
Aug
9
44
44%
7
Jan
108
37
31
450
25%
45%
25%
*
*
126%
47%
150
700
Aug
2,300
Convertible class A....*
Apr
150
1,200
6%
X
%
Buckeye Pipe Line
50
Buff Niag A East Pr pref25
$5 1st preferred
...*
Bulova Watch S3 % pref.. *
Aug
July
Jan
33%
Jan
Feb
36%
40%
Jan
Jan
26%
92
Amer Thread Co pref
9
122
Aug
30
2%
com *
Anchor Post Fence
48%
Feb
3
"is
25%
28%
Amer Potash & Chemical.*
1st preferred
Preferred
July
5% May
31%
Jan
29%
Jan
19
Amer Pneumatic Service.*
Superpower Corp
43
Jan
1,000
8
716
900
Jan
3%
28
May
"360
Jan
Feb
Mar
Mar
7%
dep rets A ord sh_£l
9i$
32%
30%
100
Am
1,500
125
7%
"""ie
Rights
Burco Inc
June
Jan
2% May
•25
.
Am dep rets B ord shs. £1
Amer dep rets pref shs £1
1,000
5,800
10%
Jan
116
7% conv preferred-..100
Amer Equities Co com___l
100
2%
30%
10%
Jan
115
Amer Dlst Tel N J com...*
6% preferred
Amer Mfg Co com
fcrown Forman Distillery. 1
B
44
"10%
4%
27
25
2%
30%
*
.100
Bruce (E L) Co...
Bruck Silk Mills Ltd
26 X
28%
Amer dep rights reg..
British Col Pow cl A
Brown Co 6 % pref
High
Jan
28
2,300
77%
Am Cities Pow & Lt—
Class A
31
Aug
200
*
31
Low
20%
200
23%
30%
Shares
Mar
2%
68
86%
53 preferred
$5.50 prior pref
18
4%
-10c
Common class B
Jan
9%
com.
'6% preferred
Mar
116
X
Range Since Jan. 1 1936
for
Week
High
Am dep rets ord reg..£l
British Celanese Ltd—
15
$3 conv pref
Low
23%
*
4%
15%
Feb
Jan
Price
Am dep rets ord bearer £1
June
2%
British Amer Oil reg
British Amtr Tobacco—
Aug
58
1,600
22
*
Allied Internatl Invest
Allied Products cl A com 25
of Prices
25
114
Alliance Investment com.41
Aluminum Ltd
Apr
9% Aug
44% May
400
59
Warrants
1
2%
27
Alabama Gt Southern—50
Week's Range
Sale
Par
40
106
3%
9%
Last
High
100
*
Ala Power $7 pref
Low
25
3%
STOCKS
0Continued)
Range Since Jan. 1 1936
Week
106
"53"
*
Air Investors com
Range
44
Acme Wire vtc com...20
Sales
Friday
Friday
Associated
on
daily reports of th'e Curb Exchange itself, and is intended to include every security, whether stock or bond, in
from the
Am
and when selling .outside of the
Saturday last (Aug. 15, 1936) and ending the present Friday (Aug. 21, 1936).
on
1936
No account is taken of such sales in computing the range for the year.
following extensive list we furnish a complete record of the transactions
beginning
Aug. 22,
Exchange—Weekly and Yearly Record
%
7%
1%
~~9~206
100
2%
Feb
Apr
36%
Aug
24
7,100
120%
19%
2,300
9
7,000
7
7%
200
1%
2%
5,000
Jan
Jan
Apr
"is July
5
May
1%
Jan
134
34%
16
1%
7%
2%
July
Feb
Feb
Feb
July
Jan
Volume
143
New York Curb
Friday
STOCKS
Last
Week's Range
for
{Continued)
Sale
of Prices
Price
Crown Cork Internat A__*
Low
High
Crown Drug Co com..,25c
Preferred
25
4 3*
15%
4%
Crystal Oil Ref
13*
IX
Cuban Tobacco
Cuneo Press
*
com
com
"43"
634% preferred
100
Cusi Mexican Mining._50c
Darby Petroleum com
5
4%
1,000
4
July
22% June
2%
2,100
Class A...
"366
%
4,300
10%
100
Mar
Jan
100
12
400
10% June
22%
Apr
163*
67
67 %
30
4
4%
500
17%
19%
17%
800
4X
'■17 "
10%
16%
Detroit Paper Prod
Detroit Steel Products
'm%
8
1
50
May
Feb
Par
July
Feb
53*
113*
Feb
Greenfield Tap & Die
433*
Aug
Apr
Apr
Guardian Investors
13*
12
Apr
163*
Apr
157*
Aug
Aug
28
*
Draper Corp..;
193*
Mar
70
Mar
200
8
8%
Jan
193*
Hey den
100
Aug
21
22%
26%
preferred
18
1153*
26%
35%
900
1,900
18
5%
10 3*
Apr
Hires (C E) Co cl A
Aug
Apr
25
June
HoUinger Consol G M
Holophane Co com
Holt (Henry) & Co cl
Mar
Jan
79
79
%
6%
10%
25
Jan
15%
Aug
Apr
100
65%
25
Jan
1243*
Edison Bros Stores com..*
Eisler Electric Corp
.1
Elec Bond & Share com..5
$5 preferred
*
733*
Feb
%
Aug
6
Mar
Feb
80
4',200
79
25
%
3,600
10%
400
6%
723*
66
300
6%
600
Vs
5
7%
Jan
m
6%
72
72
62
150
62
50
4
13*
Jan
Illuminating Shares
Jan
Imperial
Jan
153*
Mar
Mar
Jan
113*
85
Jan
41%
Jan
83
Mar
300
July
May
24%
Jan
45
400
23
Jan
44J*
Jan
14
2%
600
40 %
40
1,900
6%
50
15 %
1%
423*
33*
Feb
Jan
37
37
37
37
12%
12%
13%
17
17
17
59%
59%
3%
20%
3%
1,700
2%
Apr
23%
72(100
15%
Feb
27
July
Apr
88
July
~~3~X
21
100
36
June
Jan
July
Aug
June
233*
Mar
63
July
43*
Mar
72
72
73
700
643*
823*
82%
84
1,800
74%
Jan
883*
July
nx
11%
1134
700
9%
6%
Apr
12
Mar
600
Apr
25
1834
9
9
9
*
58
58
58
6%
warrants
100
6%
Jan
9%
753*
July
July
2
Jan
83*
Mar
93*
Feb
Shareholding—
Common.
6%
97 X
Electrographie Corp com.l
Elgin Nat Watch Co
15
Empire District El 6%.100
Empire Gas & Fuel Co—
6% preferred
100
634% preferred
100
7% preferred
100
8% preferred
100
Empire Power Part Stk
"l7%
Emsco Derrick & Equip..5
100
5
975
88
May
May
'17% "18%
*600
15
97
61H
37%
75
MX
67%
18%
43
European Electric Corp—
Option warrants
Jan
383*
Jan
633*
Aug
July
200
43
Jan
65
50
44
Jan
66
61%
67%
63%
450
67%
50
18%
40%
20
:
17 X
17%
Jan
Jan
72
Jan
283*
Jan
15
6%
8%
July
213*
33*
Apr
1%
July
44
Feb
Falstaff Brewing
Fanny Farmer Candy
1
~~8%
1
16%
*
8%
12
133*
12
"
Jan
Jan
May
~453*
*250
8%
20%
2,900
8%
19%
23%
2%
24
4,200
12c
2%
17
Feb
Jan
Jan
34
117
7634
Mar
3* May
23*
22 3*
3,700
57
%
200
300
9 3*
"73*
4
"7% "7%
4
13 3*
"""260
43*
393*
50
543*
2,600
553*
553*
6
400
39%
75
Feb
40 34
Jan
Feb
30
Aug
June
Apr
93*
Feb
73*
Jan
40%
July
363*
Jan
563*
July
383*
523*
Jan
5534
July
Feb
55%
93*
"50"
Jan
May
Jan
10
25*
150
32
Aug
203*
June
Jan
2434
Jan
243*
Feb
Apr
1434
Mar
423*
73*
423*
423*
400
37
423*
73*
Aug
Feb
32
73*
323*
343*
900
32
Britain
and
Ireland..£1
Indiana Pipe Line
10
Indiana Service 6% pref 100
7% preferred
.100
343*
100
Mar
53*
30
Jan
10
•
Feb
14
20
June
93*
3734
38
923*
A
*
Class B
100
♦
Aug
Jan
993*
Aug
Aug
63*
Jan
634
Jan
Jan
33*
Indian Ter Hlum Oil—
Non-voting class
Feb
Aug
Aug
Ind'po-is P & L 6 3*% pflOO
Industrial Finance—
V t c common
1
13*
7% preferred
100
Insurance Co of N Amer. 10
International Cigar Mach *
Internal Holding & inv
*
Internal Hydro-EIec—
Pref $3.50 series..
Intl Metal Indus A.
50
Warrant"
International Petroleum..*
Registered
_*
9
May
203*
Jan
69
Apr
84
Feb
July
34
Apr
33*
143*
113*
12
1,500
7
Apr
53*
Feb
73*
Jan
113*
33*
343*
113*
3,600
10
Aug
33* June
1434
Feb
33*
113*
4
53*
Feb
343*
343*
5,400
Aug
333* Aug
33* May
393*
3834
73*
Apr
64
64
Jan
4
1
4
600
323*
200
„
"166
%
10
*
Class B
$7
"1%
10
New warrants
13*
13*
Jan
3*
100
4
*
prior preferred
1,000
July
88
273*
80
20
15C
Feb
Jan
3* May
3*
Apr
Aug
Jan
15
15
153*
800
15
85
85
883*
250
703*
92
92
Jan
3334 Mar
3* May
3134
Feb
2634 Mar
13*
Feb
3*
Feb
233* May
15
Feb
Feb
Apr
32
May
34 May
400
1,600
Jan
Jan
34
Feb
23 3*
53*
Feb
93*
Aug
1,000
23
6
Jan
June
Jan
53*
313*
63*
32
1,500
313*
23
Warrants.
1
1434
23*
Jan
June
Ji6
Jacobs (FL)Co
23*
Jan
9i«
88
i
International Vitamin.... 1
Interstate Hos Mills
*
Jan
Feb
U3*
International Products...*
6% preferred
100
Internatl Safety Razor B_*
Internat'l UtilityClass A
Jan
25
13*
113*
753*
400
283*
113*
74
*
Internal Mining Corp____l
17
Aug
9334
Aug
Jersey Central Pow & Lt—
53*%
preferred
100
Naumburg
2.50
<fe Laughlln Steel. 100
Feb
92
1003*
43*
1003* 1013*
4
43*
Kansas City Pub Service—
Common vtc
*
Jan
283*
2,400
68
20
Feb
89
Jan
26%
12
Jan
July
June
233*
653*
11%
2234
393*
11134
Aug
Feb
%
113*
Jan
Jan
143* May
293*
Apr
105
233*
653*
Mar
203*
133*
Jones
V t c preferred A
413*
413*
423*
Feb
Kansas G & E
Feb
Ken-Rad Tube & Lamp A*
45
Apr
Kingsbury Breweries
60
Feb
30
76
Jan
40
86
May
1,600
13*
5,100
30
Jan
973*
105
44
Jan
Aug
Aug
43*
"
July
Apr
'
600
300
,.*
9
70
Kings County Lighting—
7% preferred B
100
7% May
July
22% June
19
7% pref.100
3*
13*
1113*
1
123*
123*
100
13*
123*
23*
1,400
10
13*
95
13*
Jan
Mar
63*
Mar
Mar
113
Jan
Apr
133*
33*
July
Jan
Mar
Aug
July
96
Aug
93*
Feb
Jan
74
Jan
Feb
5% preferred D.J... 100
Kingston Products
.1
74
283*
43*
43*
5
2,500
4
July
32
Feb
Kirby Petroleum
43*
43*
43*
1,400
2 3*
100
2%
July
Feb
Klein (D Emil)
Kleinert Rubber
10
9
Q
Q
100
8
.1
43*
43*
43*
100
35*
Mar
106 3* 106 3*
25
9634
Apr
12
23 3*
1,100
43*
30
17%
2%
..15
*
18
200
2%
1,100
Jan
30
Jan
16
Jan
19
Mar
1
20
20
*
100
534 June
Jan
53*
Jan
3*
7i6 May
183*
Jan
May
24
Jan
113*
6
Mar
Apr
Mar
Koppers Gas & Coke Co—
2%
Jan
43*
Feb
21%
21%
700
183*
Jan
*
213*
16%
Aug
16%
17%
500
123*
Jan
183*
*
41
39%
41
15C
13
Jan
493*
23*
Feb
Lane Bryant 7% pref..100
603*
Aug
Langendorf United Bak—
3*
Feb
Class
95
Aug
Class B.
843*
Aug
Gen Electric Co Ltd—
6%
preferred
..100
(SH) & Co pref.. 100
Kreuger Brewing
1
113*
233*
Jan
Lackawanna RR of NJ 100
Lake Shore Mines Ltd...l
57
May
Lakey Foundry 4 Mach__l
Kress
Am dep rets ord reg. .£1
1
1
1
XX
3,600
60%
57%
60%
400
%
*
%
%
Gen Outdoor Adv 6% pflOO
40
'
16
Jan
89
95
350
71
June
81
93%
84%
150
67
Jan
Gen Pub Serv $6 pref....*
Gen Rayon Co A stock...*
"l%
General Telephone com.20
17%
$3 convertible pref
.*
General Tire & Rubber..25
51%
1%
17%
51%
72
72
300
1,300
51%
95%
72%
96
89
74%
'89"
1%
17%
5%
6% preferred A
100
Georgia Power $6 pref
*
$5 preferred
*
1316 May
Apr
1,800
.,
1
Jan
2 3*
Jan
123*
Jan
193*
100
47
Jan
52 3*
July
Mar
125
683* June
60
85
89
50
79 3*
74%
25
683*
5%
200
Gilbert (A C) com
Preferred
*
Glen Alden Coal
*
15
15
15%
Godchaux Sugars class A.*
Class B
*
19
19
19
*
5
40
3,500
Consol Mines. 10
%
%
Apr
Apr
Apr
Apr
102
July
Apr
45
"Jan
Jan
.'
~20"
Lit Brothers com
83t
Feb
1
*
123*
*
43*
1203
43*
Common
9
83*
123*
113*
Jan
Feb
111
Apr
15
,
Aug
183*
Jan
Mar
534
213*
Jan
173*
Apr
6 34 May
93*
Jan
Jan
2
Mar
Aug
Apr
93*
133*
3,100
1,100
334
Apr
80
72 34
Jan
96
July
64
Jan
84
July
4,700
43*
63*
63*
113*
13*
393*
13*
600
13*
103*
Jan
143*
July
393*
40 3*
200
343*
73*
2,800
Jan
Apr
64 3*
360
Jan
43*
Aug
Apr
Jan
16
3
1234
Feb
213*
323*
73*
*
253*
163*
Jan
800
Explor.l
18% June
July
""400
183*
6% preferred class B.100
17
53*
43*
913*
793*
63*
133*
7%
10
43*
25
July
Mar
Long Island Ltg—
Feb
300
"133* "133*
Loblaw Groceterias cl A..*
Class B
*
preferred
100
Loudon Packing
883*
78
100
800
22,500
63*
9J*
53*
$6
preferred
94
Lucky Tiger Comb G M.10
Lynch Corp common
5
Mangel Stores Corp.....*
nref.....
..
inn
634
61 %
5
573*
4
423*
Feb
July
83*
Feb
Jan
153*
May
Louisiana P & L Co—
6 14%
For footnotes see page
133*
Feb
Feb
200
20
13
Aug
July
203*
Xl2%
*
Gray Telep Pay Station..*
13
90 3*
5i6
43*
10,900
Jan
1,300
Louisiana Land &
Grand National Films Inc 1
Aug
434
13.e
20
May
23* July
334
13* June
113* July
63*
Jan
3*
Jan
1073*
Feb
%
Jan
50
Aug
100
3*
Jan
800
Jan
3
-23*
25
Lerner Stores 6 3* % pref 100
Lion Oil Refining.......*
23*
Develop
%
19%
1534
200
900
Corp
Mar
90
1,800
Lone Star Gas
May
83*
Aug
93*
Feb
Mar
60
Mar
133*
Feb
78
Jan
53* June
11
83*
Mar
Jan
51
June
33*
3
*
Feb
Mar
x25
70
83*
Leonard Oil
123*
Jan
200
12
*
183*
18%
3%
13
1,200
5,500
Lehigh Coal & Nav
393*
16%
3%
63*
1
Lockheed Aircraft
19%
16%
3%
58
53*
11
2%
*
'57
*
*
107
103* May
14
7434
3*
53*
743*
Mfg Co—
agreement extended
300
Lefcourt Realty com
Preferred
Jan
8
100
93
113*
223*
.*
A
Jan
133*
24
100
Gorham Inc class A com.*
—
34
Kirkland Lake G M Ltd.l
American dep rets 100 fes
Fort Worth Stk Yds Co..*
Froedtert Grain & Malt—
Grand Rapids Varnish
-
26
Feb
Ford Motor of France—
c
July
1734
Knott Corp common
8%
preferred
35
Mar
700
100
"45"
Feb
13 3*
10,000
100
Apr
Apr
May
32% July
403* May
a;14
205*
13J*
preferred
4%
x!4
Jan
203*
preferred
46
J an
42
133*
7%
100
55
200
47
203*
6%
2,200
Feb
June
213*
46
203*
Jonas &
7%
3
*
Registered
Mar
59%
July
Imperial Tob of Canadallfi
Imperial Tobacco of Great
July
19%
23%
V t
Amer deposits rcts...£l
Imperial Oil (Can) coup..*
213*
13*
6%
13*
13*
100
40 3*
59
200
13*
cl A..*
313*
112
6%
59
173*
Industries
Jan
Am dep rets ord reg._£l
$3
*
_
May
July
1
Chem
;
23% June
74%
Aug
July
225
28 J*
19
76%
Mar
17%
103*
213*
134
1J*
Ford Motor Co Ltd—
Gorham
Mar
Jan
35
600
Ford Motor of Can cl A..*
Goldfield
723*
23*
Aug
400
76%
preferred....
Apr
July
35%
76%
Warrants
Apr
1
100
12
28%
100
Flintkote Co common....*
Florida P & L $7 pref
*
$6
Feb
93*
28
(Phila).lO
Gen Investment com
83*
2,800
13*
Feb
First. National Stores—
'
Apr
Jan
100
34%
35
110
Gen Fireproofing com..
Gen Gas & Electric—
83*
173*
253*
July
4%
700
Jan
Conv preferred
General Alloys Co
July
Aug
12
213*
93*
163*
300
'
113*
13*
Jan
%
*
86
534
6 3*
26
103*
1,200
Class B
Jan
2,200
J.an
Jan
213*
June
%
100
Aug
33*
103*
*
6%
%
Corp...
95
2,200
2,100
1
21
233*
1,300
16%
113*
13*
4
Irving Air Chute
Jan
Apr
100
16
33*
153*
Italian Superpower A
Aug
14%
'16
preferred
Apr
68
13*
3J*
173*
Jan
%
1,100
3*
Feb
Mar
73*
Feb
Jan
__1
7% 1st preferred
63*
Investors Royalty.
1
Iron Fireman Mfg v t c._10
»i6-
1,300
12
28
Feb
Mar
98
12
Interstate Power $7 pref.*
5
Fansteel
July
Aug
38 %
500
X
1
665*
200
17%
6%
800
43%
47
July
July
Feb
7,800
2%
43
'16
*
Fiat Amer dep rets
Fidelio Brewery
Apr
30%
61%
716
Fedders Mfg Co com
*
Ferro Enamel Corp com..*
Feb
19 3*
62
...100
Metallurgical
293*
Jan
61%
2
2
50
Fairchild Aviation
Jan
21
10c
3
Jan
61%
com
Ex-cell-O Air & Tool
98
42
37%
Line
Evans Wallower Lead
6%
97%
10
1
$6 conv pref ww
..*
Elec Shovel Coal $4 pref..*
Illinois P & L $6
pref
6% preferred
103*
Jan
13*
Jan
12
*
Aug
23>4
2%
2%
l
Elec P <fc L 2d pref A.
53*
Hormel (Geo A) & Co....*
July
59 %
334
Jan
.*
A
Hydro Electric Securities.*
Hygrade Food Prod
5
Hygrade Sylvania Corp..*
Jan
110
1
com
3*
72
11
Jan
39
July
*
preferred
700
2,000
7% pref unstamped.. 100
June
Feb
63* June
Mar
105 %
103*
100
Humble Oil & Ref
*
Huylers of Delaware Inc—
Common..
1
7 % pref
stamped
100
July
Jan
63* July
13* June
2,100
2,100
July
4,200
FeD
8
Jan
363*
103*
7% preferred
"1100
Hud Bay Min &
Smelt
.*
73*
130 34
128-
Apr
143*
Jan
353*
Mar
Feb
243*
103*
5
Aug
July
'
Easy Washing Mach "B".*
Economy Grocery Stores.*
124
.*
123*
July
x94%
60
28
"'3% "I"
4
*
*
11034
125
*
.
263*
23% Mar
27% May
500
"
10%
$6 preferred series B
23*
1
88
130
250
76
53*
10
19
25
115% 117
69%
70%
28
100
$6 preferred
Chemical
37 3*
8
33%
10
Malleable Iron.25
Eastern States Corp
*
$7 preferred series A...*
83
*
Aug
May
4% June
34
Eastern
,
111.25
Aug
8
15
1,100
Aug
July
High
81
*
Hartford Electric Light .25
Hartman Tobacco Co
*
Harvard Brewing Co..... 1
Hazeltine Corp
*
1,700
34%
"bx
4 34 % prior pref erred. 100
Low
*
.
Hecla Mining Co
Helena Rubenstein
225
*
East Gas & Fuel Assoc—
Common
Range Since Jan. 1 1936
Shares
Handley Page Ltd—
July
213* June
400
10
Eagle Picher Lead
$6
$5.50 preferred..'
Hall Lamp Co..
34
83*
23*
X
%
83 3*
125
323*
73*
2%
1
723*
1.8%
11
preferred
100
Dubiher Condenser Corp.l
Duke Power Co
100
Durham Hosiery class B
Duval Texas Suplhur
High
125
32%
8%
Prod com..25c
Aug
Aug
16
7%
Fisk Rubber
Grocery Sts
*
125
Gulf Oil
Corp of Penna.25
Gulf States Utll $6
pref..*
Mar
3534
*
Driver Harris Co
Low
117% 1203*
*
7% 1st preferred.... 100
Gt Northern Paper
25
Horn & Hardart
Dow Chemical.:
Fire Association
stock
Aug
16%
19%
15%
Douglas (W L) Shoe Co—
7% preferred
100
preferred
com
Feb
23*
43*
21
£1
Doehler Die Casting
*
Dominion Steel & Coal B 25
Dominion Tar&Chem com *
Corp
Non-vot
25
109
Price
Great Atl & Pac Tea—
Jan
34%
Distillers Co Ltd—
Amer deposit rets
Eureka Pipe
Week
1%
16
Diamond Shoe Corp com.*
Dictograph Products
2
Distilled Liquors Corp
5
Elec Power Assoc
Class A
for
of Prices
25%
16%
7%
X9
14
i~6%
Equity
163*
Aug
15%
Detroit Gasket & Mfg coml
6% pref ww
..20
Detroit Gray Iron Fdy_._6
Option
Feb
Mar
%
Week's Range
Sale
Am dep rets
pref...8 sh
Dennison Mfg 7% pref.100
Derby Oil & Ref Corp com*
Preferred
*
Electric
Jan
15X
De Havill Aircraft Ltd—
Am Dep Rec ord Reg_£l
$6
Aug
14
'11%
35
*
4%
37%
106
Davenport Hosiery Mills.*
Dayton Rubber Mfg com.*
"43X
%
%
.
Jan
%"
Last
High
Low
11%
10%
*
Sales
STOCKS
(Continued)
1,100
vtc__*
com
Range Since Jan. 1 1936
Shares
15%
1199
Friday
Week
Par
6%
Exchange—Continued—Page 2
Sales
May
Apr
100
•
23*
6534
93*
66
Aug
Mar
Feb
Jan
Feh
I
35
\mSimmm
New York Curb Exchange—Continued—Page 3
1200
Last
Week's Ranye
for
Sale
of Prices
Low
High
8H
4
Oldetyme Distillers----—1
Outboard Motors B com..*
634
Apr
Aug
16 J4
Jan
10034
Mar
Jan
4
Feb
734
Jan
*
Overseas Securities
*
Pacific Eastern Corp
1
Pacific G & E 6% 1st pf-25
1634
Aug
Apr
June
5
6234
134
4
Aug
15
Aug
50
60
June
3334
~7X
May
1334
Apr
July
150
9034
300
5%
2,000
10534
834
8234
634
734
7 34
34
34
2,200
2,000
62
200
Mar
Apr
Mar
Paramount Motor
Parker Pen Co—
34
Jan
Mar
Apr
Feb
Feb
434
434
Mar
Mar
134
2,000
134
Feb
Pa Gas & Elec class A
534
400
634
Jan
Pa Pr & Lt $7
900
18
Aug
234
134
1,300
July
"16
Jan
1034
*
*
Jan
Penn Salt Mfg Co
234
Feb
Pennsylvania Sugar
Feb
Pa Water & Power
22 H
2234
*
53 X
5234
134
Mining Corp of Can
*
Minnesota Mining & Mfg.*
pf-100
pref--100
Voebringer.*
Hud Pow 1st pref.*
3234
23
5334
134
3234
400
2834
Apr
125
54 34
July
100
134
3334
19134
Jan
25
Minn Pow & Lt 7%
114
Mock Judson
*
1
2d
preferred
Molybdenum Corp
84
34
7%
100
9934
300
8434
734
91
8
375
*
3034
10134
9434
1334
4,400
434
Utll--10
Montgomery Ward A
115
100
Aug
Aug
Aug
Feb
150
14934
150"
""ioo
July
Feb
34
734
934
5,200
434
434
400
534
534
710
Distillery_.l
Mtge Bank of Col Am shs. -
8%
Producers.---10
Mountain Sts Tel & Tel. 100
Mueller Brass Co com
1
"5%
34 H
34
35
*
17 H
1634
1734
900
32
32
3534
2,000
Moore (Tom)
N achman-Spring Oiled
Nat Auto Fibre A v t
c—*
1,800
National Baking Co com.l
com——1
Corp—*
bom--*
National Container com..*
$2 conv preferred,
National Fuel Gas
*
National Gypsum cl A—5
National Investors com.-l
$5.50 preferred
---1
2
Nat Bellas Hess
234
51
Nat Bond & Share
52
35
35
18M
1834
1934
2,100
53
53
5534
400
134
134
,
National P & L $6
pref-—*
88
434
200
.8534
434
8634
750
.*
34
National Steel Car Ltd
*
2934
7%
1,500
100
1134
500
11134
434
11034
1234
11
1034
:i3k"
"1334 "1334"
"366
3
3
700
9
400
Jan
June
6
Mar
21
834
25
8134
8134
234
234
1
85
85
250
900
2,000
11034,11034
""434
20
"434 "454
15~700
17
*
110
11054
10634
106
107
145
14654
334
--*
*
Class
334
100
A
-
634
6934
$3
134
conv
85
84
1134
534
554
12134 12234
75
534
300
52
15
15
54
Class A opt warr.
100
16
16,700
6,000
754
Apr
"254
1,200
s,6 May
1
May
5
1334
13
14
2,200
734
*
40
40
4134
1,600
2834
234
6
1,700
1,400
4
Class B opt warr
23*
S16
23*
1134
Jan
2034
Jan
July
125
634
7534
Feb
Feb
%
1734 Aug
34 May
334 Aug
Nlles-Bement-Pond.
-
6
1
33*
6
preferred
*
No Am Utility Securities.*
6834
$6
Nor Cent Texas Oil Co
1
4
Nor Ind Pub Ser 6% pf. 100
preferred
-
«
100
5
1
Rossia International
1834
13*
1854
534
634
834
8
"2834
""460
"8
71
8734
20
7734
Apr
Apr
734
834
1,800
300
10934 10934
10J
50
62
634
834
May
50
34
3034
10634 10634
For footnotes see page
110
334
2854
Aug
734
Apr
11654
Mar
May
July
Aug
Jan
Jan
Feb
36
Mar
15
Apr
734
Apr
40
Feb
1534
9034
1834
454
1234
Aug
Aug
Feb
July
Jan
Jan
Jan
Apr
200
Apr
754
Jan
6634 May
9834
Jan
1834 July
430
7,600
6,300
10,100
200
2934
15
16
700
316
3,500
"l2k
1
June
354
8
Jan
Aug
Jan
July
154
Jan
3734 May
1934
Jan
54 July
*t6 May
Aug
2",400
834
Apr
2,200
14
1034
101
95*
854
May
9834
Apr
25
10
1134
12
3054
3034
32 34
""ioo
1,900
800
50
5534
100
23
23
10
100
24
Apr
Jan
105
May
Mar
109
July
Jan
10334
440
5654
59
July
Jan
2934
July
48
Apr
70
July
92
104
Jan
99
July
98
Jan
110
40
10
104
134 June
734
Feb
82
81
82
450
Jan
8734
July
38
41
1,300
22
Jan
4134
July
18
18
50
14
Jan
18
Aug
9
Mar
7
734
434 June
Jan
2134
Jan
1534
3534 Aug
2634 May
Jan
10134
Jan
10434
7,6
20
~1934 "2034 "2",425
20
36
July
934
Feb
7%
preferred
5
34
1334
35
Jan
Segal Lock A Hardware..*
Seiberling Rubber com—*
Selby Shoe Co
*
109
July
1334
Jan
1534
Feb
1034 June
1434
Aug
June
3334
Aug
2334
234
34
Aug
154
Feb
July
150
1934
Apr
36
Feb
534
25
Feb
254
Jan
3
Jan
2634
2754
2,000
21
June
54
400
1834
100
Feb
234
400
5
254
1,400
200
10
134
354
July
34 July
Jan
1234
Jan
434
Jan
134
634 May
134
3,600
134
334
500
334
334
1554
354
11
Mar
Jan
3,300
'"206
254
634
Jan
Mar
3
14 54
800
2134
534
24
234
"98"
92
34
234
434
100
69
434
97
7
334
38
400
534
3
2,400
600
200
100
34
234
534
9834
734
334
39
2,000
100
11,700
990
1,100
100
500
Schulte Real Estate com..*
Seeman Bros Inc
Jan
Jan
900
69
*
Scoville
July
Jan
200
100
36
Securities Corp General..*
July
17
Aug
Aug
Jan
"""54
334
15
5
Feb
July
Jan
Apr
2054
2,400
10
7
Savoy Oil Co
Schiff Co common
Aug
IIO34
149
Jan
854
5
234
10
Salt Creek Producers
Mar
11434
Jan
13734
1434
434
1834
97
48
10934
Jan
June
634
100
27
Feb
2634
St Regis Paper com
38
110
534
115
16
*
90
25
20
34
Ryan Consol Petrol
Jan
Jan
10
34
Mar
July
300
si«
1954
554
85
•
5034
141
123 34 123 34
2234
Jan
July
3934
*
10134
"l4"
1134
1203
June
734
254
734
1,000
1,000
1854
6 34
5534
*
Jan
81
"14" "l4"
85
Jan
1,900
10334 10334
10634 10634
Rustless Iron A Steel
Jan
30
5
Mar
934
34
Russeks Fifth Ave
334
800
Oklahoma Nat Gas com. 16
Jan
3,200
134
316
Aug
100
34
110
36
30
334
St Lawrence Corp Ltd...*
2,600
*
454
1134
Mar
Jan
July
4,000
100
100
Ohio P S 7% 1st pref—10U
Apr
June
*
Apr
3634
Ohio Oil 6% pref
Ohio Power 6% pref
50
200
934
*
3634
27
Ohio Edison $6 pref
200
84
8454
13254 134
134
—*
1,400
3434
30
1,500
6
8434
134
Royal Typewriter
60
36
*
100
1134
July
3634
St Anthony Gold Mines.-1
3134
*
18
3354 June
954 June
Jan
July
20
Feb
25
36
pref
534
3134
Engineering—*
preferred
conv
Feb
2534
$3
$1.20
334
Northwest
Novadel-Agene Corp
Ohio Brass Co cl B com
9834
9654
41
Apr
Mar
6% preferred ser D—100
Root Petroleum Co
1,900
Northern Pipe Line
10
Nor Sts Pow com cl A..100
834
May
Aug
Rochester Gas A Elec Corp
1534
81
.
55
T
Apr
'""360
354
4434
334
734
8734
-
81
Jan
Feb
Aug
Apr
"l054 "1154
834
1
com
234
334
5
Nor European Oil com
Oilstocks Ltd com
Richmond Rad
Safety Car Heat A Lt—100
354
5834
4234
2234
11134
10734
12
"1034"
834
"134
Jan
Apr
July
Jan
Nor Amer Lt & Pow—
-
Mar
Aug
Feb
76
3134
854
""7%
..10
1
*
25
33
1
Noma Electric
7%
Goods
Richfield Oil pref
4
23*
5
Niplssing Mines
Common
Rice Stlx Dry
Royallte Oil
Niagara Sharecommon
834
100
2,600
1234
354
734
2634
Roosevelt Field Inc
,
112
100
*
com
Reynolds Investing
634 May
1434
Apr
11634
Jan
434 Aug
5334 June
Niagara Hudson Power—
Class B
(Daniel)
Reybarn Co Inc
100
1
52
1,460
9554
3534
1634
2234
Jan
334
7 54
9034
""1234
*
Reed Roller Bit Co
234
N Y Shipbuilding Corp—
—15
11434
5,100
*
Common
75
1534
9034
12 54
734
Reliable Stores com
N Y Wat Serv 6% pref-100
Jan
37
334
105
300
28
534
103
1354
*
*
NYPr&Lt 7% pref—100
$6 preferred
*
5
90
37
*
New York Transit Co
Jan
11234
50c
preferred
Raytheon Mfg v t c
Red Bank Oil Co
7434
Relter-Foster Oil
N Y Steam Corp com
*
N Y Telep 634 % pref—100
Mar
17
134 May
1334
3534
334
734
Reeves
Founders shares
Jan
534 July
Jan
334
6854 June
4234 July
10654
*
36
27
110
Feb
87
*
B
23
2734
150
1734
44
1354
*
N Y Merchandise
100
17
110
Raymond Concrete Pile—
Common
i
*
23
*
N Y & Honduras Rosario 10
400
2234
54
preferred
Class
234
123
*
N Y Auction Co com
»16
234
25
5
Mining Corp-10
934
9
93
New Mex & Ariz Land
37
Pub Utll Secur $7 pt
34
100
93
New Process common
2234
Mar
Rainbow Luminous Prod—
200
n,
New England T & T Co 100
Newmont
July
1
Royalty
74
c
11334
*
New Jersey 2iinc
60
*
pf—*
Puget Sound P A L—
$5 preferred
*
$6 preferred...
*
Pyle-National Co—----5
Pyrene Manufacturing—10
Quaker Oats com
*
6% preferred
100
Quebec Power Co
*
Ry A Light Secur com
*
Ry A Utll Invest cl A
1
113
100
New Bradford Oil
Pioneer
11
~1~666
100
New Haven Clock Co
Feb
4
7% prior lien pref—100
1034
*
preferred
35
6% prior lien pref—100
23
10
1
*
Nestle-Le Mur Co cl A
10
Pub Service of Okla—
16
734
Nebraska Power 7% pf-100
Neptune Meter class A
26
45
Pub Serv of Nor 111 com..*
12 H
Nat Tea Co 534 %
Nev Calif Elec com
*
Co
5
Gold Mines Ltd—1
$7 prior pref
$6 preferred
200
*
Apr
27
6%
7%
600
2734
34
NeisnerBros 7% pref—100
Nelson (Herman) Corp
6
May
20
101
Conv part preferred
Nehi Corp common
4
50
Providence Gas
500
10 y8
Jan
200
45
* "H"
Prosperity Co class B
1,500
Nebel (Oscar) Co com
23,300
Jan
6654 Feb
654 May
25
454
*
34
Nat Union Radio Corp
434
454
434
Aug
July
25
1st preferred
100
1st preferred
100
Public Service of Indiana
434
12.50
Jan
June
9234
25$ Aug
II*June
Pub Serv Co of Colo—
34
Transit
Apr
4554
334
100
*
National
Apr
3234
200
2734
2834
May
50
34
1
Refining-_*
pref.-10
5%
20
2954 July
10734 June
85
434
434
Jan
Feb
Jan
800
134
Nat Service common
National Sugar
100
263
35
10
Nat Rubber Mach
434
May
Mar
July
3254 July
5634
600
434
2734
Jan
77
834
654
May
Pltney-Bowes Postage
$6
*
4
104
334
19
Jan
55
—*
Prudential Investors——*
16
134
Apr
150
800
Propper McCallum Hos'y *
50
35
33
29
35
55
10
100
preferred
7%
Producers
*
—
734
2534
Rights..
Warrants
Nat Leather common
National Oil Products
pref ser A
conv
Pie Bakeries Inc com
Pressed Metals of Amer..*
200
National Candy Co
Nat Mfg & Stores com
1
Common
Prentice-Hall Inc
9,300
734
2534
1634
*
Pitts Bessem & L E RR-50
Pittsburgh Forglngs
1
Pittsburgh A Lake Erie.50
Pittsburgh Plate Glass-.25
Pleasant Valley Wine Co.l
Plough Inc
*
Potrero Sugar com
5
Powdrell A Alexander..—5
Power Corp of Ckn com—*
Pratt A Lambert Co—--*
Premier Gold Mining----1
125
35
June
40
.
92
3534
Meter..
Mountain
29
92
Pines Winterfront
15534
Jan
1,600
1,100
10634 10734
-*
Pierce Governor com
*
100
Preferred A
29
"~7X
Jan
11
800
434
3234
29
1
600
9
Phoenix Securities—
June
34
*
Parti c preferred
Moore Corp Ltd com
434
*
Phlla El Pow 8% pref—25
Phillips Packing Co
—»
May
Moody s Investors Serv—
1,100
1734
3234
10734
July
2,800
434
*
x5
Pow—*
High
Low
5
634
234
2.50
*
Co---—100
Philadelphia Co com
Phila Elec Co $5 pref
20
434
cl A *
Monroe Loan Society
Montreal Lt Ht &
98
30
27
98
27
114
27
Miss River Pow
Mar
Jan
July
Shares
Co.-20
Co
Perfect Circle Co
Pepperell Mfg
*
$2 non-cum div shs
Midvale Co
634
234
1634
3234
50
Jan
Midland Steel Products—
Montana-Dakota
—*
preferred
6
13
*
*
pref
Penn Traffic Co
-*
S2 conv pref
High
*
$2.80 preferred
$6
Range Since Jan. 1 1936
for
Week
of Prices
B
Peninsular Telep com
1
Midland Oil Corp—
Moh &
*
*
Preferred
100
Penn Mex Fuel Co
1
Pennroad Corp vtc
1
Penn Cent L & P $5 pref—*
Class
1,300
Middle States Petrol—
Class B v t c
234
Patchogue Plymouth Mills*
Pender (D) Grocery A-—*
334
17
334
1634
------10
t c
1
10
534
3%
1
Pantepec Oil of Vene*
Apr
102
—*
*
Michigan Steel Tube.-2.50
Michigan Sugar Co
*
v
pref
*
pref—100
Pacific Public Service
*
$1.30 1st preferred
*
Pacific Tin spec stock— *
Page-Hersey Tubes Ltd.
Pan Amer Airways——10
Aug
834
3134
1034
pref—*
Michigan Gas & Oil
Class A
534% 1st preferred--.25
Pacific Ltg $6
July
36
103
100
61
61
100
100
3334
103
634
7
49
1,300
10234
534
103
634% A preferred-—100
Mesabl Iron Co
*
Mexico-Ohio Oil
64
Class A conv pref
Week's Range
Low
5
Feb
Mar
200
1034
8434 *8634
9X
102
"III
Merchants & Mfg cl
Metrop Edison $6
Price
2734
2234
934
Aug
600
49
49
9h
100
A—1
Participating preferred.*
Merritt Chapman & Scott *
16
5334
100
800
Sale
Par
High
Pacific P & L 7%
com---*
preferred
234
.434
15
84 H
Memphis Nat Gas com..5
Memphis P & L $7 pref—*
1,000
350
5334
15
-*
Mead Johnson & Co
9)41
95
234
"~4~
B—*
Mc Williams Dredging
8M
93
93
*
_
Preferred
Low
.12
common..*
Mass Utll Assoc vtc
1
Massey-Harris common..*
Master Electric Co
1
Mayflower Associates
*
May Hosiery Mills—
Mercantile Stores
Shares
(Continued)
20
*
Masonlte Corp
McCord Rad & Mfg
Range Since Jan. I 1936
*
Mapes Consol Mfg
Margay Oil Corp
Marion Steam Shovel
$4 pref w w
Price
Last
STOCKS
Week
Par
7%
Friday
Sales
Friday
STOCKS
(Continued)
Aug. 22, 1936
Sales
Manufacturing.25
200
*
254
334
35
254
234
35
234
4,500
334
1,700
35
100
Selected Industries Inc—
Common
1
$5.50 prior stock
..25
Allotment certificates.
—
334
334
334
1,900
234
Jan
454
Feu
94
"93
95
150
81
Jan
95
Aug
9254
95
1,050
78
Jan
95
Mar
Volume
New York Curb Exchange—Continued—Page 4
143
Last
Sale
Par
Price
Week's Range
for
Week
of Prices Low
High Shares
£1
Amer dep reo
Seton Leather
—*
com
"16
500
11%
6H
20%
2%
13
7%
20%
2%
1,700
1,300
Shattuck Denn Mining...6
Shawinlgan Wat & Pow__*
Shenandoah Corp com
1
S3 conv pre!
.....25
Sherwin-Williams com..25
49%
49k
134%
k
12k
6k
20 %
2%
49 %
132
132
'
200
200
10)
8u0
"If
Sherwin-Williams of Can. *
Shreveport El Dorado Pipe
Line stamped........25
Singer Mfg Co.
100
Singer Mfg Co Ltd—
Amer dep reo ord reg—£1
Smith (L C) & Corona
Typewriter v t c com..
Sonotone Corp....
...1
.......
2%
%
7%
4%
"If*
25
1%
47%
United Shipyards com B..1
United Shoe Mach com..25
Jan
Apr
Jan
328
328
40
332
328
Apr
U S Finishing common
Jan
145k
Apr
116
Apr
20k
Jan
July
k
July
Aug
2%
26%
2%
28%
2%
900
1,000
19
1%
34%
x29
27%
200
x29
27%
27%
400
7% preferred
-.100
Southern N E Telep—100
Southland Royalty Co...5
South Penn OH
25
7N
4%
1%
7%
38%
4%
1%
7%
300
39%
500
300
300
Feb
365
July
Mar
Feb
41k
29k
28k
Apr
United Yerde Exten
50c
July
July
July
July
Aug
United Wall Paper.
Universal Consol Oil
*
-10
Am dep rets ord reg _—£1
Spencer Chain Stores....*
Square D class A pref..—*
Stahl-Meyer Ino com....*
Standard Brewing Co—"
Standard Cap & Seal com.5
Standard Dredging Co—
9%
32%
%
9%
31%
'16
200
9%
32%
1,600
300
%
39%
39%
39
300
100
1
Jan
Conv preferred..—...
pf-*
150
41
41
43
Standard Oil (Ky)..... 10
19%
19
20%
10,900
25
Standard Oil (Ohio) com 25
12%
12 %
12%
200
31
32
Standard Oil (Neb).
31%
1,700
106 % 106%
preferred....—100
—1
Common class B
*
Preferred—————*
Standard Silver Lead
1
Steel Co of Can Ltd——*
Stein (A) & Co common..*
"3%
%
H
Sterchi Bros Stores...—*
m
6%
3%
3%
25
700
3
%
9%
29
2%
%
33
47
.
—*
1
Sunray Oil.........
Rights
Sunshine Mining Co—10o
Corp—15
Swiss Am Elec pref—-100
Swiss Oil Corp.....—...1
Syracuse Ltg 6% pref—100
Taggart Corp common.—*
Talcott (J) Inc 5k % P*-50
Tampa Electric Co com—*
Tastyeast Ino class A.—1
Taylor Distilling CO
1
Technicolor Ino common.*
Teck-Hughes Mines..... 1
Tenn El Pow 7% 1st pf. 100
Tenn Products Corp com.*
Texas Gull Producing. .—*
Texas P&L7% pref—100
Texon Oil A Land Co ...*
Thermoid7% pref.
100
Thew Shovel^Coal Co....*
Tllo Roofing Inc
—1
Tlshman Realty A Const.*
Tobacco and Allied Stocks *
Tobacco Prod Exports...*
Apr
July
76k
155k
7k
2k
Ilk
40k
60
k
Feb
Feb
Mar
Mar
May
Feb
%
Feb
10k June
33k
4k
lk
41k
Aug
Jan
Feb
Feb
12% July
35% Jan
17k
50
47
'16
11
21%
1,400
7
Jan
25
%
6
50
Jan
Jan
36%
5%
3%
6%
3%
2,100
2,300
29
May
June
4%
2%
20%
3%
28%
2%
18%.
28%
2%
21
"3% ~~3%
3%
Jan
Aug
16%
3k
June
50
"l4k
14%
15%
"m
3,500
.
.
5
6,400
3k
Jan
Jan
27
Feb
24
32
2k
77k
50
46
93
Utica Gas & Elec 7%
pf 100
Utility Equities Corp
*
Priority stock.—.
*
Utility & Ind Corp
*
Conv preferred
*
Utll Pow & Lt common—1
•
100
7% preferred..
3k
85k
3k
83k
3k
1%
1
Class B
26%
4
IN
2k
28k
3k
lk
2k
26k
—1
3k May
75
73k May
k
Jan
1,000
4,700
3
*
100
""Ik ""Ik
"""loo
5k
6k
5
77
77
25
4%
~~5%
%
%
800
5%
66
%
4%
20
100k
5%
June
175
16k
...1946
1st & ref 5s...—--1951
1st & ref 5s—
1956
1st & ref 5s
..1968
1st & ref 4%s
1967
Aluminum Co s f deb 5s '53
Aluminium Ltd deb 5s 1948
Aug
12 H
12%
13%
1,000
11%
July
6%
6%
June
Amer Com'ity Pow
Jan
5,200
2%
Mar
Mar
48~"
750
Jan
II6k iiok
21k
Feb
5k
48k
Jan
Feb
"20
Jan
106
107
Mar
113
*19 June
700
16
Jan
0eb 5s—.2028
Am Pow & Lt deb 68—2016
Amer Radiator 4ka—1947
Am Roll Mill deb 58—1948
Amer G & El
Mar
19k
5%
32k
5k8'53
Am El Pow Corp deb 6s '57
% June
103
is
75k
26
26
26
.
Jan
36k
800
19k
Aug
20 k
100
4k
Jan
1,550
37k
Jan
66
Jan
102k
20
66
300
-
15k
7k
101k
101k 101N
425
"14k
3
3k
1,300
8k
3
8k
15 k
4,800
"6k "~6k
""loo
33 k
200
14
Jan
May
27
Mar
7k
Apr
10k May
1
33
Apr
6k
30
300
500
3k
5k
7k
8k
6,700
2k
.
900
9k May
80kv Aug
104k
5k
10
16k
3
15k
40
Jan
7
91k
Mar
Feb
Apr
July
Feb
Feb
Jan
July
Jan
Jan
11
Mar
Jan
July
Mar
35k
9k
lk June
4k
Feb
29
2
Aug
Aug
July
7k May
July
Feb
80
3k
7k
7
80
/100
May
2k June
200
10k
Apr
9k May
64
1—5
1st & ref 5s_.
Aug
13%
"44"
2k
2k
7k
Feb
BONDS—
Apr
Apr
16%
47
19
10k
June
100
4,500
5k
Mar
104
Apr
107
102k
Jan
107
Feb
104k
102k
Feb
Alabama Power Co—
Aug
18
4%
10k
May
Abbott's Dairy 6s—. 1942
Jan
52
65
29
8
Amer deposit
Mar
650
25
May
Jan
71
3%
75k
7k
65
300
3
92
6k Jnne
75k
7k
65
7
3k
Apr
100
Woodley Petroleum
-1
Woolwortb (F W) Ltd—
May
4,500
1,000
56
3k
1% Aug
3% July
5
5%
50
Jan
107
4%
107
IN
33k
20k
8k
3k
17%
4%
6
""%
53 k
lk
31k
19k
8k
Wolverine Portl Cement-10
2%
4%
1,700
1,100
8,200
2,300
6
31k
19 k
Mar
Yukon Gold Co
3N
Jan
1
Apr
3
18
100
Aug
6k
July
100
9
5
2k
33k
July
400
5
51
sk
89
81
9
35%
4
101
Aug
lk
1I166
"26" "26"
T"ik
*
*
Co
Jan
12k
Jan
18
2,050
.*
100
29%
May
lk
2k
2k
—*
300
""766
May
300
Venezuela Mex Oil Co-—10
Venezuelan Petrol
Jan
2k May
--*
Utah Radio Prod
37%
8%
6k
Jan
5k June
pref—100
Jan
4k
Apr
Wise Pr & Lt 7%
Apr
Apr
k
,
lk
stp—1946
Appalachian El Pr 5S.1956
Appalachian Power 5s. 1941
106
105k 106
62,000
102k
103 k 104 k
102 k
102
94
93
43,000
33,000
92,000
60,000
9,000
15,000
94
105k
Ilk
87%. 89k
107% 108
105% 105k
11N 12 k
l07""
106k
100k
88
108
'
Debenture 6s
2024
5s—1956
Arkansas Pr & Lt
Feb
Associated Elec 4k8—1953
9,000
107 k "47,606
90k
96
Feb
84
Mar
79k May
105k May
103k
Feb
3k
13k
106
Jan
Jan
Jan
100
100 k
162,000
102 k 103
14,000
104
104 k
56,000
102 k
103
June
105
102 k
Amer Seating 6s
Feb
3%
2%
3%
2%
3%
3%
800
5k
5k
500
Jan
Feb
July
Mar
105
102
106 k 106 N
107k 107k
121
{119
103
103 k
103
60k 61k
60k
1,000
23,000
92k
Jan
Aug
95
91k
108k
105k
12k
28k
108k
103k
105k
105
107k
Apr
107k
Feb
106k
108k
113k
5,000
May
104k
Feb
117
Feb
104
59", 000
98
75,000
55k May
8
36%
8%
11%
13%
8%
38%
9%
12%
65k
600
2,200
'"loo
"4% "4%
11%
300
50
18
8%
40C
"l% "2%
31900
800
Warrants
18
17%
8%
$3 cum A part pref....*
United Corp warrants
1%
United Elastic Corp
*
United Gas Corp com—.1
1st $7 pref non-voting .»
Option warrants
United G A E 7% pref. 100
United Lt A Pow com A..*
6%
114
1H
"lk
114
1%
7%
117%
1%
2k
July
25k May
8k
Jan
94k Aug
4k Aug
12
...*
7%
$6 conv 1st pref
...*
55
55
8%
60%
United Milk Products.—*
20
20
20
£1
For footnotes see page 1203
sc=
50 k
49 k
50 k
50
42,000
141,000
57k
57
6,000
30
55%
Mar
69
90k
91k
10,000
8,000
33
91%
75
Jan
93
86
86
87k
28,000
78
Jan
Feb
Mar
Atlanta Gas Lt
4k
36k
14k
94k
7k
June
Feb
Aug
July
Aug
Mar
Registered.
Conv deb
5ks——1977
—1950
5k8 A '55
Atlas Plywood
6s with
warrants—1938
6s stamped w w—1938
6s without warrants 1938
6s stamped x w.
—1938
Bell Telep of Canada—
1st M 5s series A
1955
97
"94k
93
115k
121k
Broad River Pow 5s.. 1954
2k
Mar
Buffalo Gen Eleo 58—1939
94k
Aug
July
July
Canada Northern Pr 5s '53
104 k
Canadian Pao Ry 6s—1942
July
Carolina Pr & Lt 53—1956
113k
104k
Aug
Cedar Rapids MAP 5s.'53
May
Cent Ariz Lt & Pr 5s. 1960
July
Feb
51
July
lk
Apr
July
4
Jan
81k
Jan
Jan
2k
10k
9k
119
8k
9k
600
1,800
68
5C
20k
55
5k
257
Jan
June
6k
257
Jan
Mar
Jan
June
"17I660
96 k
{97 k
94k
99
99
95k
25,000
,93
96k 136,000
k
Jan
100k May
96k
Jan
55
91k
104
101
Baldwin Locom Works—
July
Mar
10k
100 k
100 '
Mar
22
56 k
{103 k 104
4k8—1955
5k8—1943
B—1957
...1960
Bethlehem Steel 6s... 1998
Binghamton L H & P 5s '46
Birmingham Elec 4k8 1968
Birmingham Gas 5s—1959
Apr
S3 preferred
—*
United Molasses Co—
United N J RR A Canal 100
54
49 k
Assoc T & T deb
Apr
7k
"6% "7% "el 700
Common class B
7%
16,900
1,100
2,500
691666
Assoe Rayon 5s
8
300
48 k
48 k
Aug
Feb
Feb
35k
*
80k
47
{47 k
Mar
7
36%
12%
36%
11%
10.000
9k
1,700
"2% "2%
-
72 k
71
38k
14k
16k
16k
4,000
700
14%
71
5k8
1938
Conv deb 4k8 C—1948
Conv deb 4k8
1949 "47"
50k
Conv deb 5s..
1960
50k
Debenture 5s- —1968
Conv deb
49 k
54
13
United Aircraft Transport
I1
4k
k
52
8k
SS
100
50
ord reg
Jan
22k
rets——5s
Wrlght-Hargreaves Ltd—*
4%
27%
5%
--.1
Union Gas of Canada.—.*
Am dep rets
3
500
12% July
Mar
3
Jan
2,600
7k
*
4%
Aug
k
3N
""650
Wilson-Jones Co
7)4% pref—25
am
3
1,700
3k
27k
lk
77%
5^400
5
41k
4k
26k
lk
77%
Ht—*
'27%
Unexcelled Mfg Co.—10
Union American Inv'g—*
s
100
is,
3N
4k
Wil-low Cafeterias Inc—1
Conv preferred-.
*
4%
Jan
lk
Williams OU-O-Mat
5%
May
k May
27"
2,100
'~2%
13%
United Chemical
19
225
1
*
500
3N
35k
7k
2k j Aug
200
1
*
10
52
11H
Union Traction Co
27.
.
90
Jan
June
27
Utah Apex Mining Co...5
Utah Pow & Lt $7 pref—*
(R C) & Co
102
Corp.—1
Union Stock Yards
2%
27%
2k
Jan
May
P
0k
24k
3k
Universal Products-.—*
Universal Pictures com
Williams
52
4%
——*
Ulen A Co
350
28
28
lk
lk
4,400
2N
Aug
70
500
90
2
.
Apr
18
West Va Coal & Coke
8%
42
""loo
4,500
8,000
Aug
21k
r\sj June
Tung-Sol Lamp Works
1
80c dlv pref.
.....*
Twin Coach Co
2%
600
2k
2k
90
90
3%
90
21k
5
1
Western Auto Supply A—*
West. Cartridge 6% pf.100
Western Grocery Co.—20
Western Maryland Ry—
7% 1st preferred
100
Western Tab & Sta v t c—*
Westmoreland Coal Co—*
Westmoreland Co
*
West Texas Util $6 pref..*
Westvaco Chlorine Prod—
7% preferred
—100
Mar
3%
.
14
3,200
15k
10
Jan
2lk
8
Wayne Pump common—1
Apr
Apr
Jan
....*
.......•
.
Universal Insurance.
Walker Mining
Triplex Safety Glass CoAm dep rets for ord reg..
Tri-State T A T 6 % pref-10
Class A
2k
14
lk
Associated Gas & El Co—•
—.......1
Tublze Chatlllon
14k
—*
Wentworth Mfg Co
Western Air Express
Trans Lux Plot Screen-
Trunx Pork Stores
38k
July
H
Jan
k May
2% July
pref....—*
Class B
2% May
6
36%
dep rets ord reg—£1
Tri-Continental warrants
1st
Wahl (The) Co common.
Waitt & Bond class A
Jan
97
4,600
Am dep rets def
Common
conv
Waco Aircraft Co
Apr
July
Tobacco Securities Trust
reg—£1
Todd Shipyards Corp.—.*
Toledo Edison 6% pref. 100
7% preferred A
—100
Tonopah Belmont Devel.l
Tonopah Mining of Nev—1
130
U S .Rubber Reclaiming—*
U S Stores Corp com.
*
S7
Jan
lk
1
7% pref—100
Vogt Manufacturing
*
Mar
13k
Swan finch Oil
.
Jan
July
Jan
59
1st
Car.....—*
Sullivan Machinery .....*
6k
Feb
Jan
2%
2d
Btutz Motor
Jan
July
3H
preferred....
50
preferred...——20
Sterling Brewers Inc..—-1
Sterling Inc.....——-«.l
Stetson (J B) Co com....*
Stinnes (Hugo) Corp..—.6
Stroock (S) & Co
---*
Jan
8
83
Va Pub Serv
Common
Standard P & L
F
May
6%
32k
Spanish & Gen Corp—
Am dep rets ord bear..£l
Am
—*
......*
U S Playing Card...
10
U 8 Radiator Corp com..*
7% preferred
100
U S Lines pref.
7k
3% June
48
50
Sun Investing commop.
U 8 Foil Co class B
1
U S and Int'l Securities..*
High
% June
475
*
34k
3k
Jan
"966
89
39
100
Jan
27% Mar
25%
Jan
2% May
76% July
141
Southern Pipe line..... 10
Southern Union Gas.....*
5%
Preferred
Jan
3%
26 k
"2" "2%
Low
-
500
88k
38k
.....25
1st pref with warr
%
IN
lk
U S Dairy Prod class A—.*
Class B...
—.—".—*
June
16
2k
Preferred—
May
July
117
Price
1H
United Stores vtc
6% original preferred.25
6% preferred B
...25
5k % pref series O. . .25
Southern Colo Pow cl A.25
Stand Investing $5.50
Week
of Prices
Low
High Shares
United Profit Sharing....*
Preferred..
...10
Southern Calif Edison—
So'west Pa Pipe Line
Week's Range
Sale
Par
Feb
18% July
110
5% cum pref ser AAA 100
Last
Hiah
Low
Range Since Jan. 1 1936
for
STOCKS
{Concluded)
Range Since Jan. 1 1936
8el fridge Prov Stores—
Sentry Safety Control. ...1
Sales
Friday
Sales
Friday
STOCKS
{Continued)
1201
1st M 5s series
5s series C
Gen & ref 5s
96 k
85k
115k 115k
121
121k
122 k 122 k
140 k 141k
106 k 107
96 k
97k
85
85 k
98k 99
{107
.1956
108
{104k
104 k 105 k
113
5,000
29,000
1,000
6,000
9,000
73,000
9,000
3,000
113k
104 k 104 k
112k 113
106 k 107
Apr
108
Mar
79
I2I666
Apr
100
July
73k
Apr
75
Apr
100k
98k
Mar
July
77k
114k
Jan
117
116
Jan
121k
116k
Jan
123k
134
Jan
145
105k
Feb
107
89k
Jan
76
Jan
87k
Jan
103k
Apr
109
89k
105k
104
20,000
30,000
29,000
6,000
15,000
k
109k
Apr
Mar
Apr
98k
Jan
111k
105k
Jan
102
Jan
97k
108
105k
116k
104k
113k
107k
Last
Week's Range
for
Sale
of Prices
Low
High
Price
$
Sale
(1Continued)
Low
)
4}*8 ser F.1967
101% 102% 168,000
103
21,000
103%
103}*
series H
Cent Maine Pr
101
.1981
43*s E.1957
102
89%
)
Jan
Aug
7
Aug
Apr
!
Aug
t
13,000
88%
82%
June
95
Feb
Jan
96
Aug
70
72%
56,000
105%
12,000
61
625* May
755*
78%
65
Apr
80%
Apr
106%
105% 105%
1,000
111
111%
6,000
109 %
Jan
1115*
1102
102%
191%
Apr
104
73
73%
67
Apr
80
96%
99%
96%
2,000
86%
Jan
98
93
Jan
100
69%
Jan
83%
83%
"82%
...1966
99%
40,000
Jan
Mar
3,000
37,000
985*
1950
Conv deb 5s..:
1,000
81%
82% 367,000
81
81
1,000
34,000
102% 102%
"81%
102%
104
1943
Line 6s
53*8
5,000
104%
77%
53*8.1952
1949
Privat 53*8 '37
77%
78
70,000
77%
Cities Serv P & L
Commerz &
May
77
Jan
975*
Jan
Jan
Jan
106
99
Jan
1055*
95
Jan
102
26,000
86
Jan
15,000
96
Jan
102
1,000
100
Jan
1043*
963*
983*
101% 101%
104% 104%
95
945*
59,000
955*
1085* 1085*
1085*
2,000
96}*
26,000
953*
95}*
5s
Ill
745*
745*
74%
74%
83%
1055*
7
111
2,000
42,000
755*
75
14,000
83%
835*
16,000
1055*
105%
65,000
6%
.
July
6%
July
85%
77%
52%
78
36,000
53%
5,000
111% 1U%
tm% 112%
7,000
102
Mar
65%
66%
Jan
34
Feb
Jan
81
105
80%
805*
53%
98%
865*
107
Jan
May
91
Jan
97
1083*
1013*
1043* May
11065*
Aug
86% June
1035*
June
22,000
28,000
123,000
1015*
Jan
Aug
Feb
105
104%
June
84%
98%
109
105%
65*
3,000
107
1095*
1113*
Aug
July
Aug
Jan
Aug
Feb
Apr
Feb
Feb
76
Feb
July
Jan
755*
July
Aug
965*
106%
May
65
Jan
63
81%
1045*
4%
Jan
Jan
17
83
Jan
Feb
Feb
International Power Sec-
Aug
63*s series C
1(
70
72
3,000
50
Jan
July
7s series E
IS
74
76
7,000
54
Feb
74
Registered.....
Cities Service Gas 53*s '42
Cities
Service
Gas
Pipe
77
Jan
Jan
Feb
1015* 102
"
Registered
823*
106
Feb
81%
109
104
101%
Aug
84
1955
6s series B
Cities Service 5s
25660
58
107
105
Aug
5,000
82%
""73}*
77
109
82
Indiana Electric Corp—
Indiana Hydro-Elec
53*s.l942
Chic Rys 6s ctfs
1927
Cincinnati St Ry 53*s A '52
Jan
104 %
Jan
106
56%
1053*
June
Aug
1,000
74%
High
Low
I
101%
Jan
Feb
1045*
105%
111
Chic Pneu Tools
-
Jan
.Feb
Apr
Week
High
11073* 1075*
963*
105
1940
98
98%
102%
935*
1025*
Stock
5s
109
7
July
1743*
109
1045*
70%
1961
6s series B
Chic Jet Ry & Union
—...
Apr
70
68%
Jan
Jan
Mar
May
70 H
1948
5%b ex-warrants—1954
Cent States P & L 5%a '53
Chic Dlst Elec Gen 43* s 70
94
105%
102}*
104%
1015*
96
94.% 122,000
60,000
70%
73
108,000
94}*
Cent Pow & Lt 1st 58.1956
Yards
89%
93%
Cent Power 5s ser D..1957
Jan
~8~666
101%
102
1005*
74%
74%
7
8,000
1103}* 103%
Cent Ohio Lt & Pr 5s. 1950
Cent States Elec 5s
8,000
103% 104}*
102%
.1968
5s series G
4 3*s
104}*
1956
Low
Range Since Jan. 1 1936
for
Range
of Prices
Price
High
Central 111 Public Service—
68 series E
Week's
Last
BONDS
Range Since Jan. 1 1936
Week
1936
Sales
Friday
Sales
Friday
BONDS
0Continued)
1st & ref
Aug. 22,
New York Curb Exchange—Continued—Page 5
1202
74
1,000
533*
Feb
107
11073* 109
May
Jan
85%
853*
109%
July
July
July
Feb
985*
99
19,000
98%
Aug
103
Feb
74
73 5*
75%
93,000
73
July
88
Feb
65
64%
66%
52,000
60
July
795*
Jan
91
90%
91%
853*
17,000
81}*
Apr
92
Feb
18,000
78
July
July
Debenture 6s
Aug
Commonwealth Edison—
1st M 5s series A
1953
1st M 5s Series B
1954
1st
4}* s series C
43*s series D
1956
1957
111
1st M 4s series F
1981
107
1st
35*s series H
1965
53*s '£8
Com'wealth Subsid
Community Pr & Lt 5s '
112
112
~3~6CO
110%
110%
1105*
Apr
Mar
11,000
110
July
43,000
110% 111%
106% 107%
113
June
Jan
Mar
113
Mar
5s series A w
Jan
108
May
Without
106%
15,000
106%
Apr
105
63%
Jan
w—.-194
101
-
"76%
79}*
warrants...
7s series A
1951
1125}*
...
124
May
1275*
1956
109
9,000
1105*
July
3,000
120
15,00 1
105
105
25,000
1045*
Apr
1055*
5,000
101%
Jan
105
1125* May
1243* July
1105* 110}*
122% 123
1939
Mar
122%
Jan
67%
...
1981
107%
107% 107%
4,000
106
Mar
110
106% 106%
3,000
106%
Aug
106 %
31
31
94}*
95%
95
97
5s series C._
__
Jan
95
1946
"m%
"5660
3,00c
103% 103%
17,000
108% 108%
2,000
103%
8,000
1065* 106%
105% 106
32,000
16,000
102
Mai
88%
Jan
70
Jar
1053*
Mai
100%
Mar
Jan
6%
15%
tl%
1%
Certificates of deposit.
Dixie Gulf Gas 63*s._1937
i%
1%
103 %
103
Eastern Gas & Fuel 4s 1956
93%
7,000
6
93
Elec Power & Light 5s.2030
7%
14,000
103%
93% 149,000
88
71,000
89%
16,000
107% 109%
5,00C
104% 104%
88%
Eimira Wat Lt & RR 5s '56
108%
......
1950
1952
Empire Oil & Ref 53*8.1942
27.000
103% 104
103%
86%
865*
158}*
1953
44.001
88
605*
106
Api
110
127
128
tl%
Mai
108
102% May
1075* May
99%
Jan
105%
Jan
1025*
Jan
4%
Jan
4% May
%
Jan
5*
Jan
1015*
Jan
93
Aug
74
35
Jan
1%
Feb
Apr
100
Aug
Feb
108}*
1083*
1055*
109
105*
Jan
23*
104
5s ex-warr stamped. 1944
98%
975*
Gatlneau Power 1st 5s. 1956
Deb gold 6s. June 15 1941
99%
98%
Deb 6s series B
1941
97%
1940
98%
102
33
50
102}*
104%
1045*
12,000
106
106 3*
15,000
1
Jan
Jan
69
58.
Jan
Aug
July
108
June
Jan
102
July
1025*
July
Jan
100
Jan
395*
283* June
53*
Feb
935* Aug
102
96
July
1,000
98
May
27,000
79
Jan
96
99%
94 3*
953*
32,000
36,000
Jan
70
Aug
Georgia Power ref 5s..1967
Georgia Pow & Lt 5s.. 1978
1953
102
85%
-
»
Glen Alden Coal 4s... 1965
«
-
88
Gobel
.81
(Adolf) 43*s__.1941
Grand Trunk West 4s. 1950
-r -
-
-
70
1045*
1936
95
1015* 102
843*
853*
*31
•
88
88%
84,000
955*
Mar
19,000
79
Apr
29
May
59", 000
85
Apr
11,000
79
Aug
16,000
101% 102%
53*s
77
5000
103
45000
28,000
5,000
5,000
3,000
93
ioi%
965*
54,000
105
102?* 103%
383*
903*
July
Mar
Jan
,
Mar
1023*
Mar
Apr
108
Feb
64
July
825*
Mar
Jan
60
Mar
Jan
75
Feb
565*
104%
1025*
108%
105%
Aug
1,000
5,000
Mar
1105*
1075*
965*
433*
July
Jan
Jan
May
215* June
12,000
2,000
1045*
Feb
1035*
Jan
72
101%
103%
97%
10,000
1065*
Jan
Aug
May
Jan
Jan
95%
97%
106
106
1953
105% 105%
2,000
103
Mar
1083*
1073*
11,000
104
Mar
107
114
1106}*
1203
102%
July
106%
Aug
955*
Feb
107
Feb
106
June
Mar
Jan
Jan
573*
1043* 106
95}*
96}*
.
-»
«.
«.
-
«.
9,000
59,000
365* 186,000
983* Aug
1075* May
109% June
108% May
93}*
Jan
53* July
1023* May
76
July
Debenture 5}*s
July
Feb
Apr
107
Aug
85%
Apr
97
July
18
Jan
365*
Aug
107% June
1173*
Jan
112
May
125
June
1075*
8,000
105%
May
109
97%
74,000
863*
Jan
-
1093*
18,000
645*
643*
73}*
75
53,000
645*
98
975*
983*
85,000
99%
19
10
106
97
73%
New Eng Pow Assn 5s. 1948
101% May
4,000
109
123
97
13,000
97 3*
73,000
99}* 1005* 125,000
.
Jan
May
May
Apr
85
Jan
883*
Jan
985*
119
Feb
July
July
795*
Feb
795*
Feb
795*
99%
102%
Feb
Mar
Mar
New Orleans Pub Serv—
5s stamped
903*
19
84%
Income 6s series A..1949
N
Y Central Elec
New York Penn & Ohio—
Ext
N
N
43*8 stamped.. 195L
Y P&L Corp 1st 4%s '67
Y State E & G 43*8.1980
1st 53*s
1962
N Y &
Westch'i^Ltg 4s 2004
Debenture 5s
905*
84 3*
14,000
74%
Jan
91
7,000
69
Jan
8,000
97
May
104
105
103
July
110}*
1073*
863*
Aug
July
Feb
'
/
1108
106%
106}* 1065*
43,660
105
103 3*
103
103 3*
41,000
108
108
3,000
1013*
1015*
6,000
1025*
1055*
1013*
1015*
1113*
1053*
11113* 113
1954
1106 3*
Niagara Falls Pow 68.1950
5s series A
83 3*
103
103
5}*s '50
106 3*
11065* 1073*
1959
863*
Nippon El Pow 63*s__1953
86 3*
3,000
93}*
11,000
64
14,000
1055*
843*
Apr
Jan
104
Mar
Apr
July
Mar
1083*
Aug
Apr
1055*
Feb
112%
108%
Mar
Aug
May
Mar
Jan
Jan
109
Jan
90
Feb
No Amer Lt & Pow—
5%s series A
1956
Nor Cont'l Util 53*s__1948
No Indiana G & E 6s. 1952
93
93
613*
613*
11065*
/
For footnotes see page
Jan
Mar
May
75
Jan
11115*
1951
983*
1025*
833*
89%
75
Jan
108
1950
Ref & lmpt 5s
Aug
Aug
73}*
Aug
1115* June
106%
Apr
Hydraulic Pow 5s
Mar
Jan
953*
1063*
74
Mar
Mar
106% 106%
103
Jan
74%
Houston Light & Power—
1981
Jan
7 <
73%
Jan
1978
91%
1025* May
9,000
1118}* 119
Jan
1st 58 series A
July
1075* May
108
122
July
July
1st
Aug
1045*
Feb
12,000
10,7 %
755* 118,000
11085*
■
Jan
1073*
1033*
Mar
Feb
105
34 3*
35
Aug
323*
1045*
Aug
62
1035*
1,000
97
27
101
106 3*
11045* 106
Feb
103
25
30%
265*
265*
101% 1013*
105
1025*
106
93
44
57
715*
1045* 1045*
1023*
Aug
102%
76,000
97
1944
104%
July
Jan
90
106
"
69
128}*
Houston Gulf Gas 6s..1943
63*s with warrants. 1943
Feb
81%
27%
June
June
Montana Dakota Utilities
Apr
94
106
1935
Hamburg El Underground
& St Ry 53*s
1938
27
May
109% 109%
1977
1947
June
86
103
43*s series B
1961
Hackensack Water 5s. 1938
Hamburg Elec 7s
20
43,000
155
Guantanamo & West 6s '58
Hall Print 6s stpd
June
1,000
925*
1106%
763*
Grocery Store Prod 6s. 1945
Gulf States Util 5s... 1956
22%
25
915*
79
Gt Nor Pow 5s stpd.,1950
Guardian Investors 5s. 1948
Jan
98% Aug
1005* Aug
98}* June
973* Aug
1025* Mar
1025* Aug
Apr
June
June
Jan
925*
983*
74
Feb
25
^
92%
M,
Jan
9,000
June
94%
107 5*
July
30
98
10,000
993*
753*
Jan
Mar
Jan
t
Certificates of deposit
Gen Wat Wks & El 5s. 1943
6,000
June
1073*
108
Miss River Pow 1st 5s.
Feb
Feb
953*
105%
Jan
24
106 3*
Aug
1055*
1063*
Jan
Aug
75%
975*
Jan
82
70
25%
»
1053* 1063*
923*
June
Jan
92%
.
6,000
885*
92%
83%
101
.
53,000
Jan
Apr
91%
«.
1053* 106%
July
92
905*
J68
«•
1013* 102
Aug
104
1035*
1055*
58
«.
105%
133
84,000
101
9,000
124}*
Aug
61,000
98%
995* 1005* 101,000
23,000
975*
98%
23,000
965*
97%
9,000
97%
98%
92
......
875*
1075*
General Rayon 6s A..1948
Gen Vending Corp 6s. 1937
35,000
105% 1055*
Jan
Mansfield Mln & Smelt—
Gary Electric & Gas—
General Pub Serv 5s,.. 1953
Gen Pub Util 63*s A. 1956
1043* Apr
1073* Mar
1063* May
1075* Feb
875* 'Aug
101%
91
"5660
97%
Apr
863*
935* Aug
923* June
1093* Aug
Mar
Jan
104}* 105
193
104% 1045*
97%
105
1055*
99%
Firestone Tire & Rub 5s '42
97%
Feb
1,000
1035*
1055*
106 3*
1035* 104
104 %
1,000
9,000
Feb
Firestone Cot Mills 5s. 1948
53*8.1979
106
14,000
Aug
Feb
First Bohemian Glass 7s '57
Jan
26,000
106
1035*
105
99%
Florida Power & Lt 5s_1954
Feb
Jan
1035*
102J*
111%
103% 1045*
Jan
July
July
July
1083*
1023*
111
105%
Feb
3
99
Apr
1045*
1045*
106%
1123*
104%
1033*
Ill
1105}* 106
Feb
Apr
•
1025* Apr
1035* May
105%
87.
90
1,000
25,000
Feb
95%
5,000
104
July
11
101
7,000
105%
July
10Q3*
12,000
45,000
985*
1035*
Feb
Aug
1075*
Jan
90
105
......
Apr
103%
5,000
54,000
99%
148%
1,000
Mar
Aug
Jan
13,000
9,000
93
102
53*s '54
4}*s series D
43*s series E
Mar
1065*
1193*
103%
Jan
102
1st
106
Jan
1065*
105%
985*
80%
28
....
92
93
Finland Residential Mtge
Banks 6s-5s stpd___1961
Hood Rubber 7s
Apr
Mar
Apr
5s series A
103%
1033*
1153*
1005*
2,000
19,000
995*
1025*
1%
75%
Gesfurel 6s
Jan
98
May
47,000
Federal Sugar Ref 6s..1933
General Bronze 6s..
Jan
108
103 3* 103%
Jan
106
405*
105%
275*
1967
Farmers Nat Mtge 7s. 1963
Fla Power Corp
61
Aug
102}* 1025*
"98
European Mtge Inv 7s C'67
Federal Water Serv
May
2,000
106% 1065*
985*
5s series I.
Ercole Marelli Elec Mfg—
63*s series A
June
47%
1053*
99
1065*
1023* June
835* Apr
107% June
94 3*
63*s with warrants. 1943
Deb 63*s
1938
Erie Lighting 5s
June
8,000
105% 106%
99 3*
El Paso Natural Gas—
Empire Dist EI 5s
Feb
71
52%
108
1119}* 120
1025* 1025*
1053*
Aug 1 1952
Certificates of deposit
Deb 7s
Aug 1 1952
El Paso Elec 5s A
90
Jan
Kentucky Utilities Co—
Detroit Internat Bridge—
63*s
75
May
39%
------
104% 104%
1063*
Apr
1,000
103
"106"
1950
Jan
65
2,000
108
Aug
104
11,001
108
103}*
A. 1947
58 1st series B
48
106% 106%
Delaware El Pow 53*s_ 1959
Denver Gas & Elec 5s. 1949
Derby Gas & Elec 5s
Jan
107
108
108""
1952
Det City Gas 6s ser
76%
1106
43*s '56
Dallas Pow & Lt 6s A. 1949
Jan
29%
85%
5,000
98
76%
76%
88,
3,000
217,00c
1025* 103
102%
73*s 1941
1944
3,000
95%
32%
M%
1st & coll 6s ser A..1943
Conv deb 63*s w w.1943
Cont'l Gas & El 5s._-.1958
Cumberl'd Co P&L
44
90
60
52
52
Stamped.
Aug
Cuban Tobacco 5s
Jan
Feb
Mar
56
Feb
106%
1940
Feb
July
169
......
Consol Gas Utll Co.—
Crucible Steel 5s
Cuban Telephone
2,000
68
106
Jersey Central Pow & Lt—
..1981
f 4s
106%
1055*
18,000
105
Consol Gas (Bait City)—
s
1065*
Apr
105}*
105
Jan
4s called
101
1043* June
104% May
105
......
Jan
106
Mar
May
109
1962
1106}* 108
1107}*
1063*
5s series D
1st rel
Apr
......
Aug
43*s series C
5s
Jan
1023*
105%
106
106}*
Connecticut Light & Power
Gen mtge 43*s
1954
Consol Gas El Lt & P (Bait)
875*
995* June
99
101
11005*
Feb
52,000
Apr
1,000
Invest Co of Amer—
Jan
22,000
105%
1035*
1025*
Jan
103% 103%
78
76%
85
85%
113%
113%
Jan
1073*
905*
53
1063*
97
Mar
Apr
67
July
Mar
108
Jan
Jan
Volume
New York Curb
143
Friday\
BONDS
Last
(Continued)
Week's Range
for
of Prices
Sale
Price
Exchange—Concluded—Page
Sales
High
Range Since Jan. 1 1936
Low
I...1966
5s series D
1969
4%s series E
1970
No States Pow
5%s.__1940
N'western Elec 6s stmpl945
N'western Power 6s A. 1960
Certificates of deposit.
103 h
104"
104
70 34
_
N'western Pub Serv 6s 1957
Ogden Gas 5s
1945
Ohio Edison 1st 5s
1960
Ohio Power 1st 5s B..1952
1st & ref 4%s ser D.1956
107 34
10536
106
19,000
8,000
25,000
3,000
104 34
9,000
71%
70%
102% 103%
19"666
7034
*70%
5,000
10734 10834
105% 10534
106
10j534
105% 106
1953
111
6s series D
1954
5%s series E
1961
111
1941
10034
Pacific Coast Power 5s '40
107%
107
I960]
10634
1940
102 34
Okla Power & Water 5s '48
92%
6s series A
Oswego Falls 6s
_.
High
4%s. 1977
5s
Jan
60%
Jan
98%
Jan
72%
103%
103%
105%
Jan
109% June
1,000
12,000
108%
104%
10,000
106
25,000
9,000
5,000
5,000
108
7,000
301666
106
22,000
15,000
106
1,000
103% June
107
102
Mar
105
86
Apr
93%
105%
119%
98
Jan
104
100
Jan
105
Apr
107%
101%
107
10534 10534
10834 108%
106% 107
4,000
11234 11234
2,000
112
107
2,000
105%
Penn Water & Pow 5s. 1940
4%s series B
1968
Peoples Gas L & Coke—
I
4s series B
1981
Peoples Lt& Pr 5s....l979
97%
19%
5%s._1972
11234
109%
Phila Rapid Transit 6s 1962
Phil Sub Co G & E 4% *57
10734
Phila Electric Co 5s..1966
Phila Elec Pow
Pledm't Hydro-El 6%s '60
Piedmont & Nor 5s...1954
Pittsburgh Steel 6s
Pomeranian
Elec
104
1948
1939
4%s series F
1961
Potrero Sug 7s stpd..l947
Power Corp(Can)4%s B '59
Power Securities 6s
Prussian
1949
45,000
106
107
104
1,000
_8"66O
"88"
100
12,000
107%
1,000
87
i66"
19,000
29,000
*99
24%
Electric 6s..1954
9934
10034
2534
~7"666
5,000
Public Service of N J—
141
6% perpetual certificates
14134
4,000
Pub Serv of Nor Illinois—
1st A ref 58
1978
1980
ser
F.1981
1960
104
103%
10534
1966
Pub Serv Subsid
5%s_1949
Puget Sound PAL 5%8 *49
108%
106%
104%
Feb
108%
July
July
Jan
107
July
Feb
6
111%
109%
86%
105%
41%
103%
9534
108
Jan
96%
20% May
103% Feb
106
65
June
Feb
20,000
100
Apr
100,000
Jan
Jan
103
106%
100
100
36,000
1,000
Rochester Cent Pow 5s '53
*89
Ruhr Gas Corp 6%s._1953
Ruhr Housing 6%s___1958
25
25
2",000
2434
2434
10634 106%
2,000
104%
103
8t Louis Gas A Coke 6s '47
13%
10534
L A P 6s B '52
Falls 5s
1955
Wks 6s... 1937
11,000
Jan
1935
1935
6s ex-warrants
2134
2034
Second Int'l Sec 5s... 1948
Servel Inc 5s
Shawinigan WAP 4%s '67
4%s series B
1968
1st 4%s series D...1970
Sheridan Wyo Coal 6s. 1947
Carolina Pow
2025
19,000
19
22
44,000
16,000
68
100%
"moo
*10634 107
104%
"lmoo
10434 104%
104%
15,000
10434
10434
10434
104 34
11,000
*66
10834
70
101
5s. 1957
Southeast PAL 6s
22%
100
•
3%s
1945
3%s.May 1 1960
Ref M 3%s B.July 1 '60!
Ref M
101
"moo
108
108%
33,000
*10534 106
106%
106%
1st A ref mtge 4s... 1960
Sou Calif Gas Co
Sou Counties Gas
Sou Indiana G A
4%s_ 1961
4%s.l968
E 5%s '57
Sou Indiana Ry 4s
10334
Certificates of deposit.
1935
Convertible 6s
Certificates of deposit
i~6~666
10,000
13,000
75,000
10334 103%
40,000
99 34
102% 103
S'western Lt A Pr 5s..1957
99 34
8'west Pub Serv 6s. ..1945
Stand Gas A Elec 6s_.1935
7,000
10334
99
S"western Assoc Tel 53.1961
So'west Pow A Lt 6s..2022
30,000
10534 107%
84
81%
1951
Southern Nat Gas 6s..1944
10634 106 34
106% 10634
*109% 110%
106% 106 34
103 34
"83
34
9934 100%
*104% 104%
83
.
84
9,000
6,000
25,000
2o"66o
82
82 '
84%
11,000
8334
83
84
20,000
82
82
84%
20,000
Debenture 6s
1951
83%
83 34
84
89,0d0
Debenture 6sDec 1
1966
82
82
83%
60,000
101% 101%
3,000
Standard Investg 5%s 1939
Aug
July
Feb
Jan
Feb
Mar
5,000
25%
25
25%
103% 103%
106% 106%
106% 106%
2,000
106%
iq7
107
107
1,000
105
104% 105
63,000
111
111
106%
106%
Jan
106% June
25
£8
95%
2,000
5,000
111
2,000
94%
95%
80,000
64
66
105%
66
14,000
105% 106
13,000
*107%
106%
16"o6O
106% 106%
107% 107%
4,000
103% 103%
12,000
1937
foreign government
and municipalities—
Agricultural Mtge Bk (Col)
20-year 7s
1946
12
104
Jan
95
Feb
33
Feb
Baden 7s
Junel
27
Feb
Buenos Aires (Province)—
7s stamped
1952
Aug
July
108% June
19%
Jan
101%
Jan
105%
Aug
Jan
129%
July
Aug
110
33
20-year 7s
July
16
July
30
Feb
101% May
104
Jan
61
Apr
98
30%
6s series A..
72%
Feb
103
Feb
Man
108
Feb
Jan
Jan
Jan
105%
105%
105%
Mar
Mar
Mar
24
70
4,000
55%
2,000
57%
Jan
7% May
29%
29%
*27
German Cons Munic 7s *47
Secured 6s...
1947
Hanover (City) 7s
1939
Hanover (Prov) 6%s._1949
60
Maranhao 7s.
July
Mendoza 7%s
101
Feb
108% June
103%
Mar
101
Jan
100%
Jan
108%
105%
Mar
Apr
106
June
106%
110%
111
Aug
July
Aug
107
Jan
Parana
(State)
104% June
Rio de Janeiro
Aug]
108
Jan
Russian
Jan
84
Aug
Jan
104
Jan
56%
92%
Jan
99
Jan
91
.
Jan
100
May
69
Jan
67% May
May
66
May
69
64
May
63% May
97
Jan
100% Aug
103% July
101% June
105%
Feb
84%
Aug
84%
84%
60
27,000
18% May
18% May
25
7s
7s
17%
May
19% May
3",000
9
May
75
"12I666
13%
9%
71%
Feb
79%
63
Feb
20
12,000
18
12
"
H666
*
19%
*19%
20%
13%
*97%
19%
13%
98%
19%
15
15
"i",66o
15
1%
1%
3,000
6,000
1%
1%
1%
Jan
92%
10%
12%
Jan
6,000
12,000
1%
..1945
Mar
12
10,000
1
Jan
Jan
Jan
17%
"11666
1%
6%s certificates.1919
>5%s
1921
5%s certificates
1921
Santa Fe7s...
21
"
12%
Aug
97%
75
1958
6%s__1959
6%s
1919
5,000
26%
1
Jan
Jan
May
% May
1
June
1
May
65
65
1,000
58
Feb
...1945
52%
52%
1,000
49
June
1949
stamped.
12%
12%
12%
11,000
1,000
Santiago 7s
7s
1961
12%
Aug
84%
Govt
10,000
26,000
25%
12
Mtge Bk of Chile 6s... 1931
Mtge Bk of Denmark 5s '72
105%
Jan
Jan
25%
*17
Issue of Oct 1927
Feb
5,000
*84
Mtge Bk of Bogota 7s_ 1947
Issue of May 1927
103
101
1951
May
95%
89%
60%
12%
1951
48 stamped
25
"41666
23%
Medellin 7s series E..1951
July
24% May
30
25
*23
1958
72
1,000
Jan
25
25%
25%
6%s.l958
101
1,000
100% 100%
97%
97%
Danzig Port & Waterways
External 6%s
1952
Jan
May
72%
8%
97%
Apr
Jan
20
69%
100%
97
Jan
1,000
1,000
17
24
70%
8%
1955
68
18%
20%
72%
1953
Lima (City) Peru
20%
69%
1952
5%8
5s
Mar
Apr]
106%
100%
100%
100%
24
Prov Banks 6s B...1951
Jan
17
*20%
20%
1947
1951
7%s stamped
1947
Cauca Valley 7s
1948
Cent Bk of German State &
Jan
July
June
105% Apr
96%
Jan
100% May
95%
Jan
91%
Jan
83%
Jan
93,000
Yadkin Riv Pow 5s... 1941
Jan
Sou Calif Edison Ltd—
Debenture
36,000
94%
1937
May
74
108%
24%
1934
*66
100
1948
31,000
93
1954
Wash Gas Light 5s... 1958
Wash Ry & Elec 4s-.1951
Wash Water Power 5s. 1960
West Penn Elec 5s.--.2030
Danish
10234 103%
Scripp (E W) Co 5%s_1943
Seattle Lighting 5s
1949
105%
103%
96%
93%
89%
124
24,000
Estate—
6s with warrants
Sou
14
13%
105% 10534
*129%
*10734
*2534
2534
"
Apr
July
98% May
1,000
89%
103"
93
Waldorf-Astoria Corp—
7s with warrants
Ward Baking 6s
Jan
105
102
York Rys Co 5s
*10534 10634
*10334 104%
106
4,000
108
*101
1946
Wise-Minn Lt & Pow 5s '44
Wise Pub Serv 6s A... 1952
*10534 105%
103% 103%
Jan
1029,6 Aug
103% Aug
90%
Jan
92% Mar
41,000
101%
*100
July
Jan
San Antonio P S 5s B..1958
*105
Wheeling Elec Co 5s..1941
78%
4%s '79
101%
101
1937
Aug
83
Queens Boro G A E 4%s '58
5%s series A
1952
Reliance Manag't 5s..1954
7,000
11,000
10,000
*106% 108%
105
9534
13,000
87
1952
Jan
32,000
Sauda
5s series E
Jan
9534
112%
101
Utica Gas & Elec 5s D. 1956
102
July
94%
15,000
6,000
7,000
52,000
102916 1029,6
103% 1039,6
101
102%
103%
1944
101%
45,000
Saxon Pub
4%s._.
1,000
92
1968
86
6% % serial notes
1939
6% % serial notes... 1940
Jan
105%
93%
112
1973
Aug
July
July
104%
75%
"1I666
■
U S Rubber Co—
107
106
87%
94
93%
104% 105
112%
6s series A
5,000
4,000
35
27
87
"93%
112
Jan
Mar
3,000
27
Un Lt & Rys (Del)
5%s '52
Jan
Apr
Jan
100
68
*27
87%
United Lt & Rys (Me)—
68 series A
1952
West Newspaper Un 6s '44
West United G & E 5%s '55
32
102
July
100% 101
June
103%
37%
67
1959
Feb
6,000
14,000
*102% 102%
1974
104
26,000
43%
101%
100
June
Apr
6s
101
.
24
106%
76%
101%
Jan
Jan
261666
100.%
Jan
98%
64,000
1st ref 5s series B ..1950
Mar
Mar
Aug
July
8734
Schulte Real
6%s
5% 8
145% May
108%
91%
21,000
87%
Vamma Water Pow 5%s *57
Va Public Serv 5%s A. 1946
Feb
Jan
July
41%
43
1st s f 6s
.1945
United Lt & Pow 6s... 1975
Jan
107
Apr
90
107%
107
Jan
83%
Mar
104
86%
107
■86%
Jan
Apr
29
104%
61666
101% 102
32
*25
Mar
27%
104%
104%
"96""
Jan
77% May
Jan
41%
Jan
99%
~
*105% 106%
106% 106%
115% 115%
108%
20,000
95
1967
5,000
104% 104%
10334 104%
10334 103%
10534 10534
35
5s series B
132%
Jan
Jan
105%
105% 106%
*107%
89
*105% 107
West Penn Traction 5s '60
West Texas Util 5s A. 1957
Mar|
86
San Joaquin
105
15,000
12,000
62,000
1,00,0
46,000
104
"95%
105%
106%
45"6oo
82
65%
1954
105%
106%
66%
90%
97%
22%
9134
Safe Harbor Water
Mar
95
80%
94
4%s
1957
United Elec N J 4s... 1949
United El Serv 7s ex-w 1956
United Industrial 6%s 1941
Mar
5,000
62%
5s series A
Valvoline Oil 7s
Jan
Jan
May
86
Quebec Power 5s
Apr
35
Utah Pow & Lt 6s A..2022
Jan
Mar
Aug
Apr
Apr
Aug
Union Amer Inv 5s A. 1948
Union Elec Lt & Power—
20% Aug
113% Mar
112% July
94% Apr
108%
Jan
75% June
106% Mar
June
43
7,000
104
106""
1944
100
92
D. 1950
6s 3d stamped
Jan
June
44
Feb
104
7%s.l946
Jan
86%
1st A ref
ser
114%
Jan
108% June
Aug
Aug
12,000
63%
104%
Toledo Edison 5s
1962
Twin City Rap Tr
5%s *52
Ulen Co—
Aug
1st A ref 5s series C.1950
4%s
Co 6s stpd.1937
Tide Water Power 5s. .1979
Tietz (Leonard)
2,000
106
Pub Serv of Oklahoma—
4s series A
Thermoid"
106
...1966
4%s series? D
4%s series E
1st A ref 4%s
'4%s series 1
106% June
July
105%
Jan
53
10,000
2022
11134 11134
1956
5s series C
Feb
Mar
105
7334
10634 107
107%
Mar!
Apr
105
103
108
73
Portland Gas A Coke 5s '40
Potomac Edison 5s E.1966
97%
25
*2334
104% 10434
6s..1953
Poor & Co 6s
97%
19
20% 242,000
11234 113
13,000
109% 110%
22,000
9134
9134
3,000
10734 10734
2,000
62%
64%
14,000
*105%
*107
Pittsburgh Coal 6s... 1949
10734
101%
98%
Jan
49
43
105% 105%
108% 108%
*106% 107%
1957
6s
Mar
104%
97%
1,000
1,000
5,000
43
Texas Elec Service 58.1960
Tekas Gas Util 6s
1945
Texas Power & Lt 5s._1956
May
103%
6,000
Aug
Apr
Deb 5%s series B...1959
Pennsylvania Power 5s '56
1954
Aug
108
121% Mar
102% Mar
116% May
94%
Feb
Jan
Apr
Mar
101%
105% 106%
103% 10434
5s8eries D
Jan
101
Jan
Aprj
80
Feb
94%
56
53
47
105% 105%
1954
5s series B
Feb
105%
7,000
May
Jan
1950
27,000
Feb
107
107%
Apr
114
63", 000
89%
90
*10234 10334
104% 105
112
July
July
Syracuse Ltg 5%s
Jan
62% May
Jan
46%
105%
94
Marl
107
129,000
1,000
105%
1970
81
10034 10134
Penn Pub Serv 6s C—1947
1st 4%s
Tenn Public Service 5s 1970
Terni Hydro-El 6%s..l953
1971
x-w
Aug
75
Low
53
1946
7s stmp ctfs dep. 1946
Super Power of 111 4%s '68
Tennessee Elec Pow 5s 1956
Penn Ohio Edison—
6s series A
Aug
Aug
80
56
Range Since Jan. 1 1936
$
43
7s stamp ctfs dep. 1936
Mar
1979
Penn Electric 4s F
73
51
78%
7-4% stamped
Mar
2,000
89J4
Mar
Aug
for
Week
High
75
107
16,000
104%
104%
104%
79
Telep 6%s.. 1943
St7nnes (Hugo) Corp—
7-4% stamped
1936
107%
10034 101
*115% 117
1938
Aug
Mar]
June
St andard
Apr
Pacific Invest 5s ser A. 1948
Pacific Ltg & Pow 58..1942
Pacific Pow & Ltg 5s..1955
104
June
105% June
Apr
119% 120
Palmer Corp 6s
102%
100%
106
103%
1941
Penn Cent L & P
98
Jan
Jan
Jan
102%
102%
Low
Price
104
Pacific Gas & El Co—
1st 6s series B
of Prices
11,000
105
10534
106% 10634
10534 10534
10234 102%
92%
92%
10034 101
Okla Gas & Elec 5s.._
Week's Range
Sale
27,000
13,000
5,000
Ohio Public Service Co—
6s series C_
Last
Standard Pow & Lt 6s. 1957
10534 105%
105
10534
10334 104
10234 103
Sales
BONDS
{.Concluded)
%
Northern Indiana P S—
6s series C
1203
Friday \
Week
Low
6
11%
11%
Jan
Jan
Aug
Aug
84
83%
102%
Aug
Aug
Feb
*
No par value,
the rule sales not
range,
x
a
Deferred delivery sales not Included
in year's range,
n Undei
year's range,
r Cash sales not included in
year't
Included in
Ex-dlvidend.
* Friday's bid and asked price.
Cash sales transacted
e
No sales
during the
yearly
range:
were
transacted during current week.
current week and not
Included in weekly
01
No sales.
Under-the-rule sales transacted
during the
weekly or yearly range:
y
current
week
and
not
included li
No sales.
z
Deferred delivery sales
transacted
In weekly or yearly
range:
No sales.
Abbreviations
Used
,
during th ' r
Above—"cod," certificates
'
'
of
urrent
week and
no
lnclude<
—.-a
*m
*<*|p
« *
deposit; "cons," consolidated
"cum," cumulative; "conv,"
convertible; "m," mortgage; "n-v,"
"v t c," voting trust
non-voting stock
certifcates; *w i, * when issued; "w
w," with warrants
"x-w," without warrants.
-
[
Financial
1204
Aug. 22, 1936
Chronicle
Other Stock Exchanges
Sales
Friday
Last
Estate Securities Exchange
New York Real
Stocks
asked quotations, Friday, Aug. 21
Closing bid and
Dorset ctfs of
39 Bway Inc units
67
5
43*
434
69
734
Oliver Cromwell ctfs
103 East 57 St Bldg 68.1941
7
54
534s.-1950
61 Bway Bldg
103*
City & Suburban Homes..
Lincoln Bldg Corp vtc
32
deposit
Ask
Union Twist Drill
on
Established 1853
New
Members
Trade and Commodity
Baltimore Stock
of Prices
Low
High
Price
July
9* June
199
Jan
23*
193*
300
July
27
125
May
39
1,490
Jan
13*
Aug
"Ik
13*
143*
223*
Apr
Jan
823*
823*
Jan
83
863*
883*
$5,000
.1,500
70
1948
70
Jan
883*
143*
83*
D) Co
Feb
36
193*
244
11
Jan
21
July
33
34
348
17
Jan
36
July
92
88
Jan
120
Aug
116 J* 1173*
44
43
140
UK
173*
393*
93*
Apr
143*
4
280
Aug
Jan
July
1
11
9*
Feb
146
7 3*
May
IK
46
9*
May
700
13*
Feb
248
10
260
35 3*
189
279*
279*
50
334
190
747
9
8
Apr
95
35
Jan
113*
3 3*
260
Jan
12
9
IK
35
50
203*
IK
3
Chicago Stock Exchange
Chicago Curb Exchange
.
Mar
Jan
2
Jan
33*
Aug
June
261
31
Jan
Feb
Mar
373*
233*
28
Sales
Friday
57 3*
57
12 3*
■123*
133*
Par
Stocks—
Week's Range
for
Sale
of Prices
Low
High
Week
Price
Common (new)
5534
553*
200
513*
July
579*
Aug
16
16
1634
150
15
June
189*
Mar
Jan
83*
Mar
169*
Aug
1,930
)
83*
Advance Alum Castings--5
Common
J"
---^5
83*
153*
153*
153*
Class A
800
119* June
23
2234
23
300
21
Jan
45
42
49
770
20
May
Amer Pub Serv Co pref. 100
53*
Armour & Co common...5
~33*
•39*
4734
Bendlx Aviation com--—*
273*
273*
29
Berghoff Brewing Co—-l
123*
123*
4,125
369*
36 34
60
102 3*
102 3*
2
Aug
20
Aug
36 3*
Apr
Aug
Jan
133*
Aug
July
Apr
13*
1,605
101
Jan
2
1934
13*
183*
143*
Jan
J*
183*
2
Owings Mills Distillery..1
U S Fidelity & Guar
2
Western National Bank .20
93*
Bastlan-Bleasing Co com.*
102 3*
33
Aug
34
Aug
163*
Jan
Asbestos Mfg
4534
2,350
79*
Feb
2,250
634
Jan
169*
1,200
219*
Jan
32
1,700
79*
.Jan
93*
93*
15
14
83*
Bliss & Laughlin Inc cap .5
28
273*
2834
72 3*
743*
600
11034
130
7%
Brach & Sons (E
64
3834
4s—.1937
flat..1975
...1975
& A 5s flat...1941
Baltimore City
323*
39
93*
1,000
31
31
Transit 4s
5s flat
102 3*
$1,000
23,000
3,800
93*
102 H
153*
17
Jan
8
May
July
41
July
93*
Aug
Class B
Bruce Co (E
L) com.
—
Mar
1113*
Mar
22
200
2034
2034
100
13
--*
10
Butler Brothers
13
143*
350
103*
103*
133*
16,000
143*
143*
20
14
July
13*
550
1
Jan
450
12
57
com..20
Cent Cold Stor Co
l
Central III Sec com
Conv preferred
Boston Stock
Exchange
163*
23
Aug
Mar
July
343*
189*
Jan
13>*
Aug
Jan
Sale
of Prices
High
Range Since Jan. 1
for
Week's Range
Last
Common
Prior lien
.
Sales
Friday
*
pref-—*
14
14
13*
143*
65
62 J*
6734
113*
79*
2,700
23*
Aug
20
41,450
•
17
23*
18
July
673*
Jan
Central S W—
official sales lists
both inclusive, compiled from
Aug. 15 to Aug. 21,
Cent Hi Pub Serv
"Ik
1936
--—*
*
23*
2
88
803*
90
40
52
19*
Apr
33*
Feb
Feb
Jan
Aug
Feb
Jan
90
Aug
52
Aug
49
1,310
Central States Pr & Lt—
Week
Mar
203* May
550
48
preferred
Preferred
Mar
30 9*
1833*
22
-—--
July
Apr
Brown Fence & W ire—
Bonds—
Apr
July
Feb
110
22
J) corn-
149*
103*
Feb
July
Jan
22 9*
1073*
110
—.100
preferred
8
11
Jan
3
2,000
7234
83*
Aug
Jan
133*
453*
Jan
Jan
48>*
2734
Borg Warner Corp com.10
A conv pref
Feb
Aug
79*
53*
800
250
BInks Mfg Co
259*
49
43* June
29* July
1,200
1,300
53*
33*
Jan
33*
59*
Allied Products Corp—
Co com — 1
Associates Invest Co com.*
60
High
553*
—
com.-*
Adams (J D) Mfg
Low
Shares
Abbott Laboratories—
Aug
Apr
Apr
40
20
101
101
101
13* June
Range Since Jan. 1 1936
Last
Automatic Products com.o
334
573*
CHICAGO
Chicago Stock Exchange
21, both inclusive, compiled from official sales lists
Aug. 15 to Aug.
Feb
"Ik
Aug
Members.*
Aug
116
89*
July
SECURITIES
Stock Exchange
Curb (Associate)
New York
Feb
943*
Jan
16 9*
1
Jan
93*
43*
VmiRDavls &€&
Feb
July
1
140
Feb
July
Feb
30
84
"iek
153*
83*
Feb
Feb
5
73*
111
1134
1
Mercantile Trust Co
50
Merch & Miners Transp..*
Monon W Pa P S 7% pf-25
Mt Vern-Woodb MillsCommon
100
Preferred
100
New Amsterdam Cas
5
Northern Central Ry—50
Wash B
Feb
Jan
59
Mar Tex Oil
A
23*
10 So. La Salle St.,
223*
215
_
25
25
preferred
2d preferred
Apr
28 3*
93 3*
34
*
100
t—*
cl A.
1st
Bait
Jan
13*
"16
3*
Listed and Unlisted
263*
154
.
24
92 3*
116 3*
43
Fidelity & Deposit
20
Fidel & Guar Fire Corp. 10
pref
35
103*
Series B 5s
193*
1
Preferred—
305
2X
5
28
92 3*
100
Mfrs Finance com v
13*
383*
42
Bonds—
112 34 1133*
28
Eastern Sugar Assoc com
Houston Oil
33 >*
9*
239*
23 9*
...25
Power.*
Finance Co Of Amer
Aug
16 3*
High
16 3*
2
pref v t c
preferred
383*
CHICAGO
Low
Shares
193*
32
Black & Decker com...
5%
130
293*
Range Since Jan. 1 1936
750
18
18
4
Preferred
383*
13*
39
Jan
Week
*
(Conn) .50
Consol Gas E L &
83
Mar
New York
Week's Range
Bait Transit com v t c.
1st
993
21
Exchangee
for
Sale
Atlantic Coast L
893*
56
Exchange
official sales lists
Last
Arundel Corp
63*
883*
450
Sales
Par
903*
63*
883*
93*
Exchange, Inc.
Friday
Stocks—
Mar
Jan
'""63*
both inclusive, compiled from
Aug. 15 to Aug. 21,
Mar
93*
NEW YORK
YorJfc and Baltimore Stock
Chicago Board of
Mar
283*
Jan
York, Pa
Louisville, Ky.
Md.
104
4
35
102
39 Broadway
BALTIMORE, MD,
Hagerstown,
Jan
903*
213* June
185
Eastern Mass St Ry—
Series A 434s
1948
Baltimore Stock Exchange
STEIN BROS. &> BOYCE
6c S. Calvert St.
High
Low
Shares
21
Warren (S
Orders Executed
Week
1003* 101
24
243*
1003*
*
5
United Gas Corp
1
United Shoe Mach Corp.25
Preferred.!
'
T-25
Utah Apex Mining
.5
Utah Metal & Tunnel
1
Waldorf System Inc.
*
Warren Bros Co
*
Torrington Co
Bid
Unlisted Stocks
Ask
Bid
Unlisted Bonds
Range
1 1936
Range Since Jan.
for
of Prices
Low
High
Price
Par
(Concluded)
Week's
Sale
Co—
-25
100
Amer Pneumatic Serv
Common
Amer Tel & Tel
Gigelow Sanf Carp
„
LOW
pref. 100
"13934
239
65
May
795
29
Aug
1st
2d
Stores.*
100
*
General Capital
...*
Georgian (The) Cl A pf.20
Economy Grocery
Edison Elec Ilium
*
Gilchrist Co
*
pref--*
Razor
Hathaway Bakeries
Helvetia Oil Co
Int Button Hole
1
Mach-.IO
Isle Royal Copper
Co.__25
Loews Theatres (Boston)
Mass Utilities v t c
New River Co com
N Y N H & H
—*
Old Colony
100
RR
Pennsylvania RR
50
Quincy Mining
25
Reece Buttonhole Mach.10
Shawmut Assn tr
ctfs
3tohe & Webster
Sub Elec Sec
Pur
Co com.
lootuotee see
*
*
*
page
234
150
29*
Aug
300
193*
29*
Jan
313*
Apr
Mar
73*
33*
Feb
27
26
43*
5,900
23*
23*
150
19* May
30
309* June
32
106"
„
•
105
3234
Compressed Ind Gases cap*
42
42
4334
450
Consolidated Biscuit com.l
113*
119*
113*
1,550
209*
Feb
Jan
Common
K
K
K
4,450
Jan
6% prior pref A
125
129*
May
8J* June
100
2 3*
July
103*
129*
89*
691
53*
1,040
Jan
Jan
7
Apr
9*
Jan
Jan
UK
Mar
61
74
413*
Jan
83
Mar
7134
719*
20
60
Jan
84
Mar
63*
Apr
Feb
5
Apr
—
Common
4
*
7% prior preferred
Continental Steel—
32
...100
Preferred
39*
6294
7
100
Cord Corp cap stock
5
Crane Co common
25
Preferred
100
Cudahy Packing pref..100
Curtis Lighting Inc com..*
33*
35
13334
32
200
353*
343*
1333* 13334
73*
108
143*
153*
Feb
18
May
Dayton Rubber Mfg com.*
Cum class A pref-----35
153*
34
273*
279*
28
600
Jan
15
July
Dexter Co (The) com
5
18
1734
18
340
55
24
June
60
*
20
1934
203*
350
55
*
393*
393*
50
403*
Ik
11
13*
11
14
133*
319*
2934
134
"Ik
177
24
24
134
19*
13
13
1559*
291
233*
413*
13*
119*
143*
313*
19*
May
16
20
16834
20
Jan
Apr
'
35
15
105
369* May
Feb
1
53*
398
139*
210
26 34
265
75
40c
16 34
Jan
July
2394
169
Mar
Econ Cunnghm Drug com *
1634
Feb
2534
25
Jan
Eddy Paper Corp (The)
*
Elec Household Util cap.5
Elgin Nat Watch Co.-.15
Aug
Fitz Sim & Co D&D com.*
279*
419*
July
13*
113*
—
A...5
1994
Feb
General Candy Corp
May
July
35
Jan
24
115
9*
,Jan
45
99*
Jan
19*
294
13
Aug
Aug
259*
85
29*
2534
285
1834
45
45
46
110
19*
38 34
128
128
130
309
117 34
29*
10
10
200
33*
33*
334
185
35c
35c
36c
701
248
1834
13*
233*
1834
37
22
379*
488
1
19*
525
22
'
"li"
219*
139*
183*
183*
49*
43*
1207.
22
143*
193*
5,
40
70
534
23*
26c
Apr
Aug
.Jan
Jan
Jan
Mar
Mar
Apr
May
45
Common
Class A
(new)
-•
*
Class B
*
Aug
Jan
159*
289*
Aug
Aug
Jan
18
Aug
July
21
June
383* May
413* June
20
500
163*
290
23
Jan
Apr
1,450
13
June
30
Mar
Jan
189*
Jan
38
38
100
2734
Jan
389*
Aug
18
183*
250
163*
Jan
23
Apr
163*
163*
163*
300
1134
Jan
169*
Aug
12
12
139*
17,350
79*
Aug
14J*
Aug
3434
3434
36
850
229*
Jan
39 %
Mar
1834
19
Jan
July
33 34
32
34 94
*
39*
51
1309*
10
59*
58c
Great Lakes D&D com--*
29 3*
2834
32 94
Hall Printing Co com.-.10
109*
1034
113*
Feb
Heileman Brew Co G
119*
12
Aug
Mar
Illinois Brick Co.-
289*
Apr
39
Feb
70c
Jan
Jan
203*
343*
July
33 34
Apr
6
Jan
Aug
8 34
Jan
UK
139*
83*
22 34
11
14
14
269*
299*
6,400
1094
150
8
1094
Apr
Aug
Apr
14
Aug
Mar
May
329*
12 34
70
100
Feb
1099*
65
150
60
July
68
Feb
24
May
31
Feb
Mar
1089* 10834
229*. May
Jan
Jan
Indep Pneum Tool vtc..*
Iron Fireman Mfg v t c._*
64
64
2534
2534
269*
350
Jar vis (W B) Co cap
20
20
219*
1,850
43
100
183*
Feb
3134 June
24
42
4194
42
20
40
70
Mar
950
32
42
May
1
Feb
Jefferson Electric Co com.*
July
Kalamazoo Stove com—*
£.1
11
Jan
159*
July
Katz Drug Co com
1494
Feb
213*
July
194
Jan
Kellogg Switchboard comlO
Preferred (new)
100
Aug
50
Jan
26
14
25
770
5
119*
500
3,300
11,500
3,050
1,000
269*
111 North Utilities pref .100
Aug
19*
*
Jan
Mar
22
cap.l
Feb
19
Aug
Horders Inc com
Houdalllie-Hershey cl B-*
,439
575
'183*
Jan
163*
Feb
703*
1594
334
103*
193*
99*
.26
143*
Mar
149* May
19
,
Godchaux Sugars Inc—
Goldblatt Bros Inc com..*
2534
133*
363*
1333*
Apr
Aug
Gen Household Util—
Jan
133*
Jan
8
Apr
Jan
1,400
8
393*
1634
1173*
Aug
May
Mar
8 3*
-
33*
24
9
580
com
98
Feb
110
70
200
Class A
Apr
Jan
83*
624
Dixie-Vortex Co
47
Jan
14
Jan
July
July
14
Mar
Feb
120
45
50
123*
43*
106
139*
Apr
Feb
JaD
Jan
10
13
Jan
Aug
13*
20
42
33
Aug
119*
27%
2,150
139*
Jan
72 3*
23*
.
Aug
July
59*
10
13
""
Feb
July
9* June
6,950
45
134
Jan
38
116
109*
10
120
17
.
Feb
42
120
4
1003* 1003*
43*
33*
108
"~73*
7
2
17
Jan
Consumers Co—
159*
118
29*
233*
969*
2,550
108
Jan
29*
167
Jan
43*
Feb
39*
*
Pacific Mills Co
43*
2,450
23*
17
42
167k
Jan
523*
23*
15
130
100
RR (The) 100
North Butte
23*
June
5
Feb
Aug
4934
51
5
14
139*
52
25
June
18
Apr
529*
43*
634 May
25
13
12 34
433*
Apr
Apr
333*
112
*
75c
*
Mergenthaler Linotype..*
New England Tel & Tel 100
129*
Commonwealth Edison. 100
69*
6234
25
preferred.-.100
Coleman Lp & Stove com.*
Feb
63*
Maine Central—
5% cum
99*
July
July
Apr
73*
Employers Group
Gillette Safety
109*
99*
49*
*
4
40
136
63*
934
1734
132
83*
143*
99*
13*
--»*
preferred
Feb
Preferred
2
100
*
Eastern SS Lines com
157
27
75c
100
preferred
Preferred B
Feb
1494
Chicago Corp common..-*
Cities Service Co com
"
—100
Common
41
309*
Feb
63*
*
43*% prior pref
Eastern Mass St Ry—
2634
Feb
68
100
100 "7134
6% cum pref
Chic Yellow Cab Inc cap.*
Club Aluminum Uten Co.*
Feb
70
Assn—
Common
Aug
143
-
299*
*
East Gas & Fuel
500
178
73*
25
Copper Range
East Boston Co
43*
20
Jan
69*
Mar
49 34
11734
8
53*
20
80
2534
May
493*
10794 June
663*
preferred
54 3*
50
434
Jan
1393* 13934
Class A 1st pref
Jan
20
July
Apr
973*
29
2534
...100
83*
stpd.100
Class A 1st pref-....100
Class B 1st pref stpd.100 ""93*
Class C 1st pref stpd.100
Class D 1st pref stpd.100
"139*
Boston Personal Prop Tr.*
Brown-Durrell Co com—*
Calumet & Hecla
25 "lok
Prior
Jan
403*
493*
Apr
13*
1495*
25
673*
Traveler..*
Feb
35
Chicago Elec Mfg A
*
Chicago Flex Shaft com..5
Chic & No W Ry com—100,
29*
200
Boston & Maine—
22 3*
120
230
1534
9,500
1,534
106
29
ju/vrawu
Boston Herald
Jan
53
4834
153*
473*
434
134
13*
106
8
513*
483*
Chain Belt Co com
1693* 1749*
"in"
20
513*
Preferred
High
Low
Shares
*
Cherry Burrell Corp com.*
Price
Par
Stocks—
4194
403*
1194
125
409*
109*
108
4194
129*
125
10,050
380'
434
75
July
Feb
Apr
July
44
129*
125
Aug
Aug
Aug
Volume
143
Financial
Friday
Par
Week's Range
of Prices
Week
Price
Low
Range Since Jan. I 1936
Low
Ken-Rad T & Lamp comA*
12%
12
13%
Ky Utll Jr
3,150
43
41%
90%
89
43%
90%
6%
cum pre!
50
preferred
100
Klng3bury Brew
Leath & Co
1
cap
La Salle Ext Unlv
1%
5
com
Common
.9%
,
11%
Lindsay Lt & Chem
com 10
4%
13%
Lion Oil Refining Co com.*
Loudon Packing Co com..*
Lynch Corp com
5
12%
50
15
Jan
July
Mar
Jan
38%
July
1
July
3%
27%
Mar
19
Mar
3
11%
5%
Apr
8
May
35
2%
3
12%
6%
%
%
Aug
Jan
Jan
Apr
7
65,550
5,750
4,050
•
July
7%
%
Jan
%
3%
2%
3
280
1
2%
300
1
1%
2%
1%
30
3
Mar
Mar
%
1%
Jan
40
%
Feb
340
3%
Jan
11%
80
May
50
20
25
100
17
Jan
26%
16%
29%
18
900
11
Jan
18
31
360
28
Apr
33
Jan
65
52%
1%
53%
1%
100
38%
1%
16%
16
16%
300
13
7%
6
3%
Jan
850
250
1,550
470
*
2%
1%
300
17
300
28
July
57
6%
29
28%
50
14
14
32
Apr
41
Jan
2%
Mar
4%
July
200
2%
5%
Apr
2%
2%
Jan
Aug
2
.
1 %
100
49%
6
May
Mar
4% June
Apr
May
Jan
118
117
118
40
112%
Jan
123
123%
122
124%
June
140
Jan
145
144% 145
Jan
150
July
3%
3%
22%
22%
200
115
20
142
2%
950
4%
91
81%
13%
A. T. A T. GLEV
Sales
Last
Stocks—
Par
Allen Industries Inc
Week's Range
for
Sale
of Prices
Week
Price
Low
72%
July
72%
July
July
Mar
;
7% Jurie
Jan
Range Since Jan. 1 1936
Shares
Low
High
1
24
24
24%
27
27
27
70
11%
17
17
25
15%
Jan
4% June
Ctfs of deposit
100
Cliffs Corp vtc
*
Enamel Products
Faultless Rubber
300
4%
5
45
67
410
69
63%
68%
68%
22%
22%
69%
24%
15
15
63
63
63%
100
Commercial Bookbinding.*
Electric Controller & Mfg *
"63"
18%
Apr
Mar
61%
Jan
75
July
90
59%
73
July
3,328
40
Jan
17
20
•.
July
Feb
15
Aug
May
45
24%
70
Jan
14
Aug
14
25
10
Feb
126
25
July
16
265
Harbauer
*
49%
48%
*
Jan
36
Jan
104
Aug
22
100
June
105
97
16
Aug
26
43
49%
Jan
35%
10
10
61
34%
Jan
55
51%
106
101% 101%
17
16%
*
Interlake Steamship
Jaeger Machine
13
51%
104
Feb
Feb
6%
30
51%
Jan
24
68%
14
106
Feb
6%
71%
30
.*
Aug
July
Jan
*
Foote-Burt
26%
30%
19%
54
*
Grelf Bros Cooperage A__*
Halle Bros pref
100
Hanne (M A) $5 cum pref *
Kelley Isld Lim
High
16
Aug
51%
107%
19
19
10
10
Jan
23
50
19% June
15
15
25
25
25
50
16
16
110
Apr
26
15
Jan
Mar
-
20
22%
4%
Aug
Apr
& Tras...*
July
Feb
Aug
17%
Jan
35
Jan
67%
82%
July
Medusa Portland Cement *
Feb
Aug
Metropolitan Pavg Brick *
7
Feb
21%
2,250
July
22%
Aug
10
10
10
10
Aug
15
Mar
50
Apr
14%
Mar
Miller Wholesale Drug..
Monarch Mach Tool
*
10%
18%
2%
*
25
25
45
16%
Mar
25
Apr
7
July
27%
Apr
Feb
105
June
28%
8%
18%
99
61
Feb
93
Aug
Murray Ohio Mfg.
National Pumps Corp
National Refining
National Tile....
*
10
330
1%
Jan
11
3,650
70
30
2%
40
3%
May
11%
300
82
79%
Feb
24
Jan
Aug
91
Mar
*
800
9%
-
Apr
18%
10%
35%
2,150
20%
18%
8%
Apr
25
Aug
19%
Aug
Richman
*
Jan
12%
4%
Feb
Feb
Seiberling Rubber
S M A Corp.
1
5% June
650
19%
9%
200
3
250
1%
3%
250
21%
50
2%
Mar
%
May
800
*
Jan
6% cum pref
Packer Corp..
Jan
Patterson-Sargent
Jan
2
Jan
24
5%
700
4
1,750
30
Apr
Apr
35
June
18
18
150
16
Apr
22%
14
15%
6%
36%
2,900
10
Mar
16
8%
39%
July
6%
34%
5%
*
Jan
Jan
Stock
Detroit Stock
Apr
Jan
17%
"I§~"
25%
25%
25%
Stocks—
Par
Crowley, MJlner
for
Range Since Jan. 1 1936
Low
150
9%
68
19%
Jan
13%
Jan
27
Mar
Mar
4
4
115
3
June
6
6
50
6
June
11
June
8
6%
6%
35
5% May
8
Jan
90
May
90
104
*
14%
..100
107%
100
.50
""7%
90
20
19%
103% 104
14%
14%
107
107%
100
100
6
242
114
89
19%
102
27
Aug
68
2
Jan
4%
Feb
18
172
14
May
19%
Feb
Jan
Feb
DETROIT
Randolph 5530
4%
Sales
1
1
Jor
of Prices
Week
Price
2
com
*
Low
High
2
561
25% May
14
305
14
Aug
21
21%
2%
7%
470
19
Apr
2%
7%
7
2%
8
8
*
35
35
com
Dolphin Paint "B"
*
1%
17%
General Motors
*
com
18
10
'97%
97%
3
44
Jan
Crystal Tissue
Dow Drug pref
_*
6%
6%
100
6
June
110% 110%
10
108%
July
July
6% June
115
,
Mar
Preferred
26%
Jan
37%
Jan
10%
4%
8%
15%
31%
%
16
Feb
Apr
7%
2%
1,650
346
2
July
5%
13%
29
16%
335
5%
Aug
482
26%
28
850
20%
5%
"5%
6%
1
*
10
Feb
Apr
7%
10%
72
100
1
5%
5%
6%
177
11
Jan
745
23
May
14
Apr
1,663
1,400
150
Apr
5% June
"j6 Jan
5
Jan
Jan
4
Mar
7%
23
Jan
Mar
Mar
4%
Jan
28%
Hudson Motor Car com..*
Mich Sugar com
Jan
16
Houdaille-Hershey "B"__*
100
390
Aug
54%
13%
Kresge (S S) Co com
10
Lakey Fdy & Mach com__l
1,220
%
2%
1,582
10
Jan
8%
850
66
Hoover Ball & Bear
July
July
2,350
23%
19%
Feb
8%
112
1
5%
Jan
7%
2%
5%
107
5% May
2%
Jan
Feb
9%
2%
100
450
Jan
Apr
32%
24%
23 %
3%
7%
657
"~7%
Jan
2%
Feb
14
200
*
Apr
July
3%
1%
1
7%
9%
150
2%
35
Jan
17%
18%
1
com.
1,862
1%
18
Goebel Brewing com
Graham-Paige com
17%
2,345
66
Ex-Cell-O Aircraft com..3
Federal Mogul com
Hall Lamp com...
6%
5%
1
"16
Feb
Jan
85
5
Feb
12% May
100%
5%
25
54
11
Jan
"""%
1
Det Steel Prod
High
10%
27%
1
com
Low
14
10%
27%
Det & Clev Nav com....10
Paper Prod
Range Since Jan. 1 1936
Shares
2%
10%
27%
105
62
785
Exchange
Week's Range
Aug
*
1207
July
54
110
Chicago Stock Exchange
Mar
May
Coca Cola "A"
100
17%
485
New York Curb Associate
Det-Mlch Stove com
High
*
100
Jan
Aug
Aug
3
2%
17%
Det Cripple Creek
Week
Shares
.7
100
55
35
57
54
Det
11%
Feb
106%
Jan
Sale
Sales
10%
20
9%
"56%
Consolidated Paper com.10
Continental Motors com.l
*
27
Jan
Feb
4%
104%
Last
Aug. 15 to Aug. 21, both inclusive, compiled from official sales lists
High
Aug
Aug
15
Friday
Burroughs Adding Mach.*
Capital City Prod com...*
of Prices
6
66
Building
Cincinnati Stock Exchange
Week's Range
20
37
Exchange
Auto City Brew com
Baldwin Rubber com
Low
12
Aug. 15 to Aug. 21, both inclusive, compiled from official sales lists
A. T. & T. Tel. Cin. 291
Sale
Aug
July
920
Exchange
Stocks and Bonds
Last
95
4%
%
556
29%
30%
Detroit Stock
|
Wire System—First Boston Corporation
Price
9
Jan
*
1
Telephone
Specialists in Ohio Listed and Unlisted
Friday
Jan
55
Exchange
BLDG., CINCINNATI
Cherry 6711
5
25
Members
New York Stock
Jan
BALLINGER & CO.
Cincinnati
175
2,990
Watling, Lerchen <& Hayes
Buhl
Members
Mar
17%
Feb
6%
Jan
11
10,700
Mar
4% May
106% 106%
17
17%
20% 21%
"if""
Jan
July
550
28
15
Aug
July
July
7
30
20% May
Aug
Aug
Jan
34%
5
UNION TRUST
30
...100
_*
5% May
15
30
6%
1
Mar
June
Jan
5%
2% May
15%
Feb
Ohio Brass B
8
95
6%
7
*
12% June
Apr
33%
5
34%
^100
28%
500
1
21%
8
.50
cum pref.
1,150
7
3%
150
4%
6
3,300
2%
3%
33%
7%
8
*
22
18%
21%
1
Mar
4%
27%
272
5%
95
7%
33%
7
21%
3%
"~4%
25
4%
14%
31
Zenith Radio Corp. com..*
565 & 566
65%
7%
6%
oa«e
Jan
40
3%
13%
14%
see
Feb
12%
31%
21%
com*
B'or tootuoten
28%
82%
250
1%
24
81%
4
Wisconsin Banks hares com*
Cin Street Ry
Aug
4%
103% 103%
93
89%
4%
.......
*
Churngold
14
10%
4%
...
_*
Cin Gas & Elect pref
Cin Post Term pref
10
21
21
Wieboldt Stores Inc com.*
100
Feb
66
_*
1st preferred
48%
35%
11%
19
Champ Coated
June
82%
-*
Preferred...
Aug
27
65%
25
—
Jan
25
230
Lams on & Sessions
*
Leland Electric..
*
McKee (A G) classB__.__*
1%
Corp.........*
Baldwin
9
43
Friday
Apr
22%
49
Sundstrand Mach Co
pref
Aug
Jan
4%
Aug. 21, both inclusive, compiled from official sales lists
Cleveland Railway
Jan
3,550
4,500
to
Feb
103
Thompson (J R) com.-.25
Utah Radio Products com.*
Part pref
21%
Cleveland Stock Exchange
Aug. 15
3%
Mar
110
Convertible preferred-_*
Storkline Fin: conv pref.25
Swift International
15
Amer Prod prior
Jan
Jan
Union Trust Building# Cleveland
Telephone GHerry 5050
National Tool...
Amer Laundry Mach...20
48%
CILLIS10 JWOODcq
*
600
*
Industries
Jan
Members Cleveland Stock Exchange
*
250
NabStkydscap..*
Aluminum
Feb
Ohio Listed and Unlisted Securities
Cleveland Builders Realty*
Cleve-Cliffs Iron pref
*
69
*
Par
Feb
16
75
6%
28
City Ice & Fuel
70%
Schwltzer-Cummlns cap-.l
Stocks—
July
130
28
Apex Electric Mfg
116
pref.*
Wllliam8-0il-0-Matlc
Mar
10
July
3
68%
Sangamo Electric Co
*
Sears Roebuck & Co com.*
common
1%
8
_*
July
69
5
com
Mar
21
112%
27%
115
69
10
com
%
3%
40%
1
6
Rapid
July
4
2%
68%
50c
pref
100
1
20%
Jan
19
100
26%
2
Raytheon Mfg—
Swift & Co...
July
Aug
25
Apr
Apr
104
660
36%
2%
100
Standard Dredge—
Common
16%
47
Jan
3%
100
Southwest Lt <fc Pr pref
4%
10%
Jan
'
7% June
14
Jan
Apr
25
110
1%
17%
35%
7%
90
49%
51%
109% 109%
25% 26
17
South Colo Power A com 25
Sou'wn G & E 7% pref. 100
Jan
6
47%
37% July
7% June
15%
Jan
1,550
28
1%
Slgnode Steel Strap com..*
Jan
7
July
Jan
Apr
24
3%
47
32 %
26
28
Process Corp com
*
Public Service of Nor 111—
conv
2
U S Playing Card
U S Printing pref.
Jan
Feb
3
6% preferred v t c
Reliance Mfg Co com
5
175
125
6
*
Aug
10
200
25
com..
2%
16%
Jan
26%
25%
Jan
5%
10%
26%
Peabody Coal Co B com.
Penn Gas & Elec A com.
Perfect Circle (The) Co.
100
2%
47
Jan
July
130
6
9%
51%
52
8
7%
9%
60
Aug
Feb
63%
...»
Mar
33
May
300
31
7% preferred
100
Prior lien pref.
100
Okla Gas & El 7% pref-100
Parker Pen Co com
10
27%
6%
9%
16%
2%
9%
£
Jan
Jan
Jan
*
Randall "A"__
July
4
18
_._*
P & G
19%
94
33
16
*
National Pumps
50
65
5%
31
...2.50
Moores Coney "B"
Aug
Aug
34
t c
20%
5
31
Jan
24
33
Preferred
20
*
Feb
Jan
50
33
*
28
Mar
49
com..*
North Amer Car com
*
Quaker Oats Co—
Common
33% June
Apr
17%
Noblitt-Sparks Ind
7% preferred-
Jan
Jan
Mar
3%
4%
2%
3
2%
7%
44
Common
28
23
Jan
5
Jan
24
Northwest Bancorp com..*
Northwest Eng Co com..*
Northwest Utii—
Jan
60
110
Feb
2%
2%
June
25
32
Feb
2%
7
114
28
4% June
12% Aug
3%
3
2%
18
Mar
Mar
July
115%
15
Jan
250
12
27
19%
High
Jan
Jan
25%
5%
%
Jan
8
28
Apr
830
35
3
4% * Feb
22%
10%
6%
Feb
1,400
12,200
15%
7%
14%
8%
5
90
25
44
Wahl Co
7%
2,510
19
Low
365
113
113
19%
*
6%
550
113
*
Jan
11
10%
10%
Range Since Jan. 1 1936
Shares
31%
Meteor
j.
High
*
Manischewitz
27
6%
32%
Low
Price
*
July
6%
for
Week
Gibson Art
July
700
44
Walgreen Co
4
500
Range
of Prices
Julian & Kokenge
13%
35%
1%
*
Common..
*
50
34
12
100
6% preferred
100
Formica Insulation
20
Jan
Apr
43
*
Potter Co (The) com
Prima Co com
Eagle-Picher Lead
Early & Daniel pref
Jan
35%
Apr
33
Natl Pressure Cooker Co.2
Nat Rep Inv Tr coftv pfd.*
Viking Pump Co
May
7
1,400
46%
4%
1%
22%
Week's
*
*
35%
11%
Apr
,
33
7
*
Muskegon Mot Spec cl A.*
Convertible
Leonard
Lunkenheimer
Jan
7
680
1%
Nachman Springfilled com*
National Battery pref
*
Natl Gypsum cl A com..5
National Leather com
10
Util & Ind
Kroger
Jan
Jan
21
34
.7% preferred A
100
Miller & Hart conv pref_.C
Monroe Chemical Co pref *
St Louis
Feb
3%
20
40
Conv preferred A
*
Midland Utll 7% pr llenlO
6% preferred A
100
Rollins Hos M
7
320
3,250
10
Jan
37%
Stock purchase warrants
v
Mar
Jan
14%
Common
3%
3%
200
40
Common
...1
Middle West Corp cap_..5
„
1%
Jan
1% May
2,750
34
Mickelberry's Food Prod—
Pines Winterfront
May
Aug
Aug
450
Marshall Field common..*
Mer & Mfrs Sec cl A com.l
com
76
43%
90%
250
25
National Standard
Feb
13%
6%
Manhatt-Dearborn com..*
6% prior lien.
34%
Jan
;
40
Mapes Cons Mf capital...*
Midland United CoCommon
14
39
6%
39
McCord Rad & Mfg A...*
McGraw Electric com...5
Prior preferred
Apr
26%
11%
46%
4%
13%
6.%
:..*
Par
10
Magnavox
*
$3% preferred
Stocks (Concluded)
150
1%
5%
26%
9%
Cumulative preferred..*
Libby McNeil & Llbby__10
Lincoln Printing Co—
High
950
2
1%
5%
....
*
com
Last
Sale
Shares
High
Sales
Friday
for
Sale
(Concluded)
1205
Sales
Last
Stocks
Chronicle
4
19%
28
Apr
Apr
Aug
Mar
Jan
July
July
Feb
Feb
Mar
Mar
Mar
Mar
Aug
8%
Mar
1%
6%
Feb
Feb
Financial
1206
,
.
Par
(Concluded)
Week's Range
of Prices
Low
High
Low
Shares
4%
Aug
Jan
22
22% May
20%
210
18%
19%
2,212
*
10%
10%
689
6%
*
41%
41 %
499
41 %
11%
10% June
1
''
Packard Motor Car com
Parke-Davis
com
July
Apr
20%
Murray Corp com..... .10
__5
Stocks
High
3
1,775
3%
3
3
Mld-W Abrasive com.. 50c
Motor Wheel com
Week's Range
for
of Prices
Week
Week
Price
Range Since Jan. 1 1936
Last
Sale
for
Sale
Stocks
Sales
Friday
Range Since Jan. 1 1936
Last
15%
15
Jan
.
May
July
(Concluded)
Price
Par
Low
__1
Tonopah Mining
United Corp com.
*
Feb
United Gas Impt com
*
*
*
111%
Mar
Preferred
*
Pfeiffer Brewing com..
..5
Reo Motor com
11%
11%
290
4%
4%
340
4%
July
..2
5%
5%
5%
583
5
July
*
5%
5%
5%
5,140
4%
July
7
Jan
30
30
25
Jan
30
July
Elec & Peoples tr ctfs
Axle com. .10
20%
20%
21%
2,789
21%
Aug
7%
8%
11,654
Jan
11%
12%
3%
5%
3,366
56
14%
108%
7%
12% 810,000
1,000
23%
%
118
110% 111%
38%
.
Mar
1 %
Feb
8%
Apr
9%
Feb
19%
Feb
113% June
Apr
100
515
1,062
1,270
17
16%
16%
Peoples Pass tr ctfs 4s_1943
7%
12%
5%
Jan
..1
,S16
7%
7%
Jan
Jan
Feb
Apr
Apr
Apr
Jan
29%
5%
8%
'*■6
4%
1
50
Union Traction
52
34
High
Low
Shares
High
33
34
Tacony-Palmyra Bridge. _*
Feb
12%
50
1936
22,
Aug.
Sales
Friday
II
Chronicle
Mar
Rickel, H W, com
River Raisin Paper com
.10
Scotten-Dillon com
Timken-Det
Tivoli Brewing com
18%
8%
7%
'
128
Mar
Westmoreland Coal.
8%
8%
9
July.
Feb
United Shirt Dist com..
*
8%
8%
7%
Jan
Univ Cooler "A"
*
7%
7%
7%
200
6%
Jan
9%
4
3%
4%
2,370
2%
Jan
4%
27
355
23%
July
*
27
250
23%
Jan
24
Jan
20
Mar
July
27
July
10
,24
July
*
12%
4s '45
Apr
*
Bonds—
"B"
Univ Products com
..
Walker & Co units
Wolverine Brew com
Wolverine Tube
27
'
27
27
1%
%
%
—.....
35%
450
LOUIS MARKETS
ST.
Feb
30%
Apr
3
Mar
July
1%
Mar
I. M. SIMON &CO.
Jan
400
34%
..1
..
com..
31
Jan
35%
Aug
Business Established 1874
1516
1,505
1%
1%
..1
Warner Aircraft com
26
%
15
Enquiries Incited
on
all
Mid-Western and Southern Securities
H. S. EDWARDS & CO.
St. Louis Stock Exchange
Specialists in Pittsburgh Listed and Unlisted Stocks and Bonds
compiled from official sales lists
Aug. 15 to Aug. 21, both inclusive,
Sales
Friday
T
Last
Week's
Allegheny Steel com
*
Arkansas Nat Gas Corp..*
Low
10
25%
July
38%
Mar
180
33%
Jan
7%
Apr
9%
Aug
9%
9%
400
49%
130
47%
Feb
62%
Apr
15%
16%
120
13%
July
Feb
2%
2%
1,700
2
July
20%
4%
17%
3,820
9
July
17%
Aug
2%
16
15
20%
Duquesne Brew Co com..5
Electric Products
*
Follan8bee Bros pref
28
38%
Hoppers G & Coke pref. 100
*
13
July
23%
40
16%
Jan
20
Feb
7%
Jan
15
July
100
3
Apr
10%
July
1,230
Jan
40
13
15%
1,500
13%
1
31
Jan
97
Jan
4,779
Mar
2%
200
1%
Jan
5%
Apr
5
5%
1,145
1%
Jan
5%
Apr
25%
220
100
5%
Pittsburgh Brewing pref.. *
25%
Preferred-
25%
25
.....1
98%
Jan
600
7%
May
11%
Jan
210
3
Jan
11%
Aug
600
.1
Jan
1%
18%
_
18%
5
1
Standard Steel Spring:...*
1,000
2c
3%
1,085
3%
23
23%
105
39%
jm_
2c
40
United Engine & Fdy
-
—
-
-
-
-
95c
95c
1
42%
*
1.00
43
..
138% 139%
Westinghse Elec & Mfg.50
»
Apr
2
June
Mar
20
Jan
15
50
19
3%
3'%
Westinghse Air Brake
1%
2c
*
Victor Brewing Co...
140
75
10%
11
'
Ruud Mfg Co
May
11
Pittsburgh Screw & Bolt..*
Pittsburgh Steel Fdy
*
San Toy Mining Co
Shamrock Oil & Gas
30
Apr
Feb
10%
133% 135
Pittsburgh Plate Glass..25
*. «.
.
*
4c
Mar
Jan
5%
Aug
17
July
15
116
Apr
120
Aug
78
97
July
100
July
99
8%
Aug
2
June
3%
13%
Jan
14%
July
14
Jan
15
June
25
.
119
20
*
4
Jan
Feb
7%
Apr
4
Jan
12%
Aug
Apr
19%
Aug
75
15%
47%
Jan
53%
Mar
8%
Jan
14%
Feb
8
Apr
5
28
June
12%
34%
30
52
July
15
48%
13
12
226
32
60
15
,
6%
9%
July
60
6
12
19%
15%
250
142
Feb
Feb
61
17%
9% June
July
July
42
44
40
25
Jan
47
110
111
30
101
Feb
111
Aug
Feb
15
May
Ijtlce-Stlx Dry Goods com *
11%
10%
9%
preferred
100
Scruggs-V-B D G com...25
5%
1
5%
10
18
50
4%
60
125% 125%
91
4%
4%
Southw Bell Tel pref... 100
212
10
46%
50
100
.*
55
112
112
1st
com...
Aug
20
16
60
42
Wagner Electric
9%
145
*
preferred
Aug
370
11
t-
-
100
Scullin Steel pref
Jan
4%
Aug
22%
2%
32
-
Natl Bearing Metals com.*
Candy com
109
16%
13
-
15
2nd
310
48
"48%
60
Preferred
Apr
109
12
com..25
National
Aug
6%
15
6
•
*
Aug
2%
Natl Fireprooflng Corp... *
^
*
Preferred
2%
July
4%
Aug
135
17%
57%
7%
41
534
22%
9%
13%
14
Hyde Park Brew
Jan
421
Aug
13%
*
Huttig S & D common...*
Hydraulic Press Brick pf 100
Mo Portl Cement
900
Feb
21
40
'
2%
McQuay-Norris common.*
1%
Aug
64%
34
16
16%
*
Mar
57%
4%
30
48%
Aug
22
8%
Hamilton-Brown Shoe com
Mar
1 %
Mar
July
109
97%
International Shoe com..*
4%
28%
29
'
118% 119
Griesedleck Western Brew.
com.
Jan
13%
120
22
Falstaff Brew common.._1
Preferred
1936
High
109
Knapp Monarch com
54%
*
6%
Key Boiler Equip com...*
..5
Mountain Fuel Supply
22%
pref
100
Ely & Walker D Gds com25
1st preferred
100
2nd preferred.
100
14%
Jan
■
22%
6%
Jan
Co.
McKinney Mfg Co.
Mesta Machine Co
21
Chicago & So Airlines pf 10
Apr
10
48%
Elder Mfg 1st
Hussmann-Lig'onier
50
*
48%
Low
257
30
48%
common_._.*
Apr
41%
107
1
•
Shoe
Range Since Jan. 1
for
Shares
21%
30
-
Aug
1%
July
35
90
39%
106% 107
107
Jan
250
1
1
1
Harb-Walk Refrac com..*
Jan
6
3% June
14
Jan
31%
28
.
Jan
9%
18%
13
9%
100
Lone Star Gas Co
518
13
13
Fort Pittsburgh Brew
15
21
18%
10
Oil
4
4
Clark (D L) Candy Co...*
Columbia Gas & Elec Co.*
25
8% preferred
Burkhart new common... 1
48%
9%
Carnegie Metals Co
*
Central Ohio Steel Prod..*
Renner Co
Brown
High
3%
7%
*
Blaw-Knox Co..
.
21%
American Inv "B"_ _.-_-.*
"A"
Shares
6
6
Armstrong Cork Co.
Devonian
1 1936
Range Since Jan
for
Week
High
33%
------
—100
Preferred
Low
Price
Par
of Prices
High
Low
Price
Par
Stocks—■
Week
Sales
Range
of Prices
Sale
Stocks—
Sale
inclusive, compiled from official sales lists
Friday
Week's Range
Last
Pittsburgh Stock Exchange
Aug. 15 to Aug. 21, both
Louis, Mo.
NEW YORK
BROADWAY,
120
(Assoolate)
of
Trade
Telephone Central 3350
A. T. & T. Tel. Pitb-391
Court-6800
Tel
316 North Fourth St., St.
PITTSBURGH, PA.
BLDG.,
BANK
UNION
Stock
Louis
St.
New York Curb
Chicago
Board
Exchange
Exchange
New York Stook
/ Pittsburgh Stock Exchange
j New York Curb Exchange (Associate)
.
Members
MEMBERS
-
125%
7% June
111%
Aue
40
July
10%
-
Jan
117%
Jan
5%
Aug
3% May
•
50
Apr
Aug
Mar
5
Aug
Jan
1%
127%
Mar
123
177
34
34
15
9%
28%
Apr
35
Aug
Jan
Jan
Bonds—
26
Jan
t United Railways 4s .1934
28%
28%
2,000
28%
Jan
35%
Jan
Apr
22% May
40
Mar
United Ry 4s certif dep's..
28
28
5,000
27
Jan
34
Apr
21
1,319
3,870
60c
July
47%
Mar
Jan
145%
Aug
100
89
1.00
Jan
97
25
Jan
34%
350
July
106%
Mar
Jan
5%
Feb
LOS ANGELES SECURITIES
■
Unlisted—
Lone Star Gas 6%
pref .100
Pennroad Corp vt c
*
......
101% 101%
4%
4%
3%
47
Listed and Unlisted
Dobbs-Crowe-Wagenseller & Durst
Established 1874
Member Los
626 So.
DeHaven & Townsend
Angeles Stock Exchange
LOS ANGELES
Spring St.,
Members
New York Stock Exchange
Los
Philadelphia Stock Exchange
PHILADELPHIA
1513 Walnut Street
Angeles Stock Exchange
Aug. 15 to Aug. 21, both inclusive, compiled from official sales lists
NEW YORK
30 Broad Street
Friday
Week's Range
Last
Sale
Par
Stocks-
Philadelphia Stock Exchange
Aug. 15 to Aug. 21, both inclusive,
compiled from official sales lists
Sale
Par
Stocks—
Price
Week's
Range
of Prices
High
Low
27%
*
Stores.,
American Tel & Tel. J100
172
Bell Tel Co of Pa pref..100
126%
Budd (E G)
2%
Range Since Jan. 1 1936
for
Shares
High
low
85c
Bolsa Chica Oil A
Budd Wheel Co
Chrysler
July
475
11
11%
12%
4%
4%
37%
1%
2%
50
35%
35%
50
145%
Scott
Sun
Paper—
11%
11%
11%
300
11%
Aug
16%
Feb
Consolidated
12%
12
12
600
11% June
15%
May
June
24%
Apr
55%
3%
Jan
14% May
5%
July
19%
Feb
Jan
72%
17%
Aug
for
footnotes see
page
54
Jan
131
11%
15%
1206'
Oil
Corp..
3%
3%
900
*
17%
17%
17%
200
Crystalite Products Corp.l
2%
2%
2%
12
Consolidated .Steel com...*
Preferred
Preferred
100
Jan
Emsco Derrick &
Jan
Exeter Oil Co A
1
Golden State Co
*
Aug
Eq Co..5
8%
Mar
Hancock Oil A com_..._.*
8
Mar
Holly Development Co ..1
129
1%
Jan
432
9%
Feb
14%
Feb
Honolulu Oil
2,775
1,813
3%
Jan
5%
Feb
Jade Oil Co
28%
Apr
Feb
Kinner
120
113%
Feb
146%
Aug
Lincoln Petroleum Corp.
112
Apr
117
%
39
May
31
19%
70c
10
22%
90c
30
Corp
±
4
10c
Airpl & Mot Corp.l
11c
41
15c
Lockheed Aircraft Corp__l
9
1,000
50
Menasco Mfg Co
May
30%
61%
61%
15
81%
121
200
1%
Los Ang Investment Co .10
20
9
4%
May
Jan
9
G & E 6% pref 100
1
Mills Alloys Inc A
107%
,
20c
9
18%
46c
26
Feb
20%
Apr
Feb
87 %c
July
July
14%
10%
July
Jan
24%
Jan
May
9c
37
Jan
July
8c
1.50
31
16c
95
Apr
Apr
Mai
Feb
Feb
Feb
29c
6% June
11%
Jan
July
28,300
1%
28%
May
14c
4%
Jan
3 %
38
14c
4,500
5,400
1%
8%
19%
38
100
4%
68
Jan
10c
10c
1,000
4,700
400
9%
July
30
5%
4
1%
21
80c 82 %c
30
5%
Los Ang Industries Inc __2
10%
16%
'21
100
5%
Los Ang
Mar
10
200
5,700
10
135
Mar
12%
25
19%
10
1,100
35%
Jan
1%
19%
62 %C 62 %c
3%
Jan
2%
12%
31
3%
33%
272
12%
18%
25
31
106% 107%
1,115
2,550
Jan
Claude Neon Elec Prod..*
July
Apr
Jan
July
500
13
1
May
81%
61%
*
800
13c
3%
14%
1%
18%
500
13c
124%
3
146%
113% 113%
35
34%
5%
9%
9%
12%
13c
3%
1.1
2%
141%
!.__.*
Oil Co...
15
Preferred vtc
Jan
Jan
8%
Feb
Apr
Jan
Philadelphia Traction...50
Salt Dome Oil Corp..
1
Feb
86
Apr
Phila Read Coal & Iron..*
30c
734
8%
50
50
10c May
10%
114
6%
preferred
2,300
Feb
118%
Rapid Transit
12c
Apr
8
7%
12c
30c
389
Phila
12c
4%
32%
314
9
Feb
Jan
14%
34%
Feb
17c
10c June
9%
25
16c
July
26% June
17%
Phlla Elec Pow pref.
Jan
5c
550
,8%
Ux
Phila Elec of Pa S5 pref— *
6c
1,500
29
119%
*
5,500
6c
29
16%
Pennsylvania RR
Penna Salt Mfg
7c
6c
.11
Preferred
6c
6c
3%
119%
Pennroad Corp vtc
Apr
7c
1
c
29%
Jan
4%
Aug
July
Citizens Natl T & S Bk..20
6%
25
100%
Chapman's Ice Cream Co.*
90
Preferred-
90c
10
Jan
Aug
17
National Power & Light.. *
Aug
May
42%
Mitten Bank Sec Corp..25
75c
5% May
98
15%
544
..50
21
127%
555
—
900
Feb
Aug
177%
1,258
Lehigh Valley
7%
7%
9C
2%
Jan
66%
*
80c 82 %c
100% 100%
Jan
Jan
July
5c
Jan
46%
(Phil) com *
2
Apr
20%
Lehigh Coal & Navigation *
1,200
5,100
5,200
9%
8%
19%
Horn &Hardart
2
5
115%
65
Gimbel Bros com
8c
2
High
Jan
149%
45%
10
3%
216
Electric Storage BatterylOO
Motors
Jan
2,800
408
Curtis Publishing Co com. *
General
36
3%
646
113
5
26
8
100%
Low
3%
7c
14%
9%
*
;
Corp.;
325
10
Broadway Dept St pref .100
Buckeye Union Oil com__l
Week
Range Since Jan. 1 1936
for
Week
Shares
171% 174%
124
127%
13%
*
Mfg Co,
28
8c
Berkey Gay
oj Prices
High
Low
3%
Cons__l
Barnhart-Morrow
Common v t
American
1
Warrants
Sales
Friday
Last
Bandini Petroleum Co
Price
105
July
Feb
Jan
2%
Jan
116%
4%
5
Jan
6%
Jan
Jan
2%
1% June
6%
Mar
4
Feb
Mar
Mt Diablo Oil Min & Dev 1
50c
50c
50c
200
32c
Jan
82 %c
57
Jan
75
Mar
Nordon Corp
5
13c
12c
13c
7,500
12c
July
28c
Apr
71%
Jan
90%
Mar
Occidental Pete Corp
1
35c
30c
30c
1,000
25c
Jan
57 %c
July
Apr
Volume
143
Financial
Chronicle
1207
SterFriday
Sales
Last
Par
Week's Range
for
Sale
Stocks (Concluded,)
of Prices
Price
Oceanic Oil Co
_1
Pacific Finance Corp
.10
Pacific Gas & Elec Co...25
Low
72 He
72 He 72 He
25 %
39 %
24%
Range Since Jan. 1 1936
50c
85c
Feb
26 H
Aug
31%
Feb
29%
Jan
18H Mar
48% May
20%
Jan
2%
Jan
40 H
July
(Non-voting) pref..i__*
Pacific Tel & Tel com.. 100
32 %
28 H
Aug
Aug
6% preferred
Paraffine Cos com
58 H
July
39 H
200
Pacific Indemnity Co
Pacific Lighting Corp
32 %
100
10
28
27%
27%
6,300
56%
53
53
25 %
10%
25%
9%
25%
9H
7,500
26c
25c
25c
1,200
& Gas A com
_
_
Oil Co
Apr
45,
Jan
54%
Apr
50 H
11 H
Jan
60
Jan
Jan
32
July
Republic
5%
*
20
20
20
95
16%
July
6%
100
88
86
88
175
80%
Jan
34%
9%
33%
34%
335
29
10%
5,616
25
25
Aug
Rbos
Schlesinger
29
800
27%
Mar
29
27%
400
26
Common..
Feb
109 H
Aug
11
Apr
Jan
43
Aug
35% June
47
Feb
Signal
14 H
Feb
21 H
1,800
20%
Apr
28 %
19
4,400
7 H
Jan
28
July
3,100
4%
Jan
8%
8%
9%
Oil.....
Cardinal Gold Mining
Oro Amigo Co
48c
47c
47c
7,200
22c
Jan
63c
5c
5c
1,000
3c
June
7 He
1.40
1
1.30
1 30
1,900
1.00
Feb
1.45
lc
lc
9.000
lc
July
2c
6c
5,000
>6c
Jan
15c
Jan
_.
.
..100
.
174 %
4%
Cur tiss-Wright
Corp.
Goodrich (B F) Co
...
.
6 %
1
265
169H 169%
4%
4%
6%
6%
150
May
200
5H
177 %
Jan
Apr
3 %
300
7%
Feb
23%
44%
& Co..
North Amer Aviation Inc.l
Packard Motor Car Co
23%
200
18% ' Apr
23%,
43%
200
36 %
47 %
8%
300
7 H
10%
7 H
600
66%
11%
100
58 H
May
71
1,000
9%
May
14 H
10%
United Corp (Del)....
10%
7%
7%
66%
12%
U S Steel Corp
Warner Bros Pict Inc....5
2%
100
May
Apr
15%
119
15
150
Jan
23%
8.
Feb
19%
122%
July
Aug
32
215
37%
3,138
16%
16%
104% 105%
12%
13%
21%
22%
100
101
Jan
106%
Mar
31,143
1,838
11
Apr
Apr
14%
Feb
35
21%
32%
19
July
Jan
74%
Aug
23%
Jan
43%
Aug
1%
May
2%
Jan
Aug
47%
Feb
35
155
22
32
32
Apr
42
Jan
14%
21
1,560
10
Jan
110
23
Jan
19
Feb
Feb
28%
22%
32%
20%
July
Aug
19
18
21%
6,955
7%
Jan
28
July
62%
62%
10
50%
June
62%
Aug
309%
Oil...10
19
19
62%
Consol
309%
Apr
327%
310
308
35
36
50
50
54%
Aug
290
20
.♦
35
Yellow Checker Cab A .50
19
Aug
Aug
•1,958
26%
Jan
38
July
700
23%
Jan
54%
Aug
July
8%
.25
Wells Fargo Bk & U T.100
Western Pipe & Steel..10
Aug
8%
Montgomery Ward
23%
43%
Feb
1%
1%
16%
United Air Lines Trans..5
Aug
Feb
1%
Jan
1,114
1,657
21%
21%
preferred.
%
29%
74%
12%
Waialua Agric.
Feb
7%
839
29%
105%
Universal
Unlisted—
Amer Tel & Tel.
Cities Service Co
July
29%
41%
*
7%
13%
35
70
100
Apr
6c
200
1%
35%
Union Oil
Aug
lc
7c
l
*
Apr
Aug
39
Co of Calif. .25
Union Sugar Co com...25
Jan
10c
ZendaGold Mining
6% preferred
Transamerica Corp
Feb
5c
.
Feb
91%
74%
Apr
Mining—
Feb
24
39
Tide Water Assoc Oil com*
Blk Mammoth Cons M. 10c
Calumet Gold Mines...10c
%
7%
29%
Pulp Co
5
Southern Pacific Co.-.100
Sou Pacific Golden Gate B*
Standard Oil of Calif
*
Mar
17%
May
7% June
23%
Apr
280
18%
18%
121% 121%
121%
18%
Preferred
Feb
25
%
7%
7%
.100
com
Soundview
150
9%
*
..100
Shell Union Oil
Aug
21%
9%
..1
1
Preferred
120
..
com
July
27
150
July
Aug
& Sons (B F)—
July
6,900
12%
Pete..
Bros
>28 %
12%
36X
Rainier Pulp & Paper B
Jan
21 H
107
7%
July
150
July
4%
40
.
101%
Jan
40
13 %
Apr
Feb
97%
Jan
Jan
22
110
152
Apr
2
Jan
150
107
68
Feb
Jan
139%
4%
25 %
35
106 %
24
106
106%
*
15
104
80
535
100
49
80
130
658
1,200
800
149% 149%
80
July
Aug
25%
Jan
5%
31%
200
149%
8%
Jan
119
180
High
Jan
4%
39%
36 H
125
4%
18%
5
31 H
39 H
109 H 109 H
39
39 -
25%
128%
125
Low
1,233
1,814
3%
100
40 %
7%
7%
25%
5
28 %
36%
7%
25%
Range Since Jan. 1 1936
Week
4%
28%
109 %
Shares
Price
com..*
10
28%
27%
for
of Prices
Low
High
*
Equip & Rlty
1,300
29
Universal Cons Oil Co..10
Wellington
40c
52
27%
*
Union Bank & Trust Co.50
Union Oil of Calif......25
Jan
10c
48
39%
25
Transamerica Corp
Ry
H00
Preferred
Pig'n Whistle pref
July
52
32 %
.25
.....25
Sou Cos Gas 6% pref_.100
Southern Pacific Co... 100
Standard Oil of Calif
*
Aug
13 %
48
Sou California Edison...25
Orig preferred
6% preferred
5%% preferred
25%
100
Week's Range
Pacific Pub Serv
(nv) com*
53%
28%
*
_
400
Jan
48
Security-First Natl Bk__20
Par
18 H
39 H
32 %
Signal Oil
(Concluded).
400
32%
Secur Co units of ben int.*
Stocks
3,400
25
25
*
High
Low
6% 1st preferred
Pacific Pub Serv 1st pref_ *
Republic Petroleum Co__l
Rice Ranch Oil Co
1
Last
Sale
Shares
High
Sales
Friday
Week
66%
11%
Jan
Apr
7
Jan
6
100
10
Apr
13
Feb
8%
May
STRASSBURGER & CO.
July
Apr
Feb
133
MONTGOMERY STREET
SAN
FRANCISCO
(Since 1880)
Members
Dean Witter & Co.
Municipal and
PRIVATE
LEASED
Chicago
Chicago
WIRES
Portland
Honolulu
New
Taooma
Sacramento
Stockton
Board
Stock
York
New York
Seattle
Beverly Hills
Stock
Exchange
Exchange—San
Fresno
Cotton
(Asso.)
San
Exchange
Honolulu
Exchange,
Stock
Francisco Stock
Francisco Curb
Exchang'g
Friday
Week's Range
Last
Stocks—•
Exchange
Aug. 15 to Aug. 21, both inclusive, compiled from official sales lists
Friday
Last
Sale
Stocks—
Par
Anglo Calif Nat Bk of SF20
Assoc
Insurance Fund.„ 10
Atlas Imp Diesel Eng A. .5
Bank of Calif N A
100
Price
21%
5%
of Prices
Low
21H
A
19
18
21
971
199
199
199
10
3%
18
187 H
Jan
22%
5%
Jan
July
Aug
24
5%
6,260
5%
July
Aug
29%
305
15H
Jan
30
30%
31
740
Jan
com..*
32%
5%
5%
I
i
100
29
23%
4H
%
29
29
100
25
Jan
45
48
48
330
44
June
51
Feb
June
43H
com.
com
40%
*
103
106
Crown Willamette pref
Crown Zellerbach v t c
112
Preferred
*
A
Preferred
B
19H
30%
8%
104
*
D1 Giorgio Fruit com... 10
104
12
42
105
42H
104
215
35
70
11%
42%
106
85
*19%
19H
30%
30%
109H 112
8%
9%
103% 104
104
104H
*12 '
12%
100
100%
14%
Jan
Aug
Jan
June
274
29
July
July
83
100
Apr
4,579
1H
105
16
Feb
10
14,140
1.00
1.30
1.40
4
4%
989
76c
75c
80c
1,200
12%
12%
100
86
86
Oil
Curtiss Wright Corp
Domlnguez Oil Fields
"86"
6%
1
6%
50
787
6%
Feb
1.45
Aug
3
Jan
65c
Jan
7%
1%
15%
Mar
11% May
72
4%
June
89
Jan
19
Aug
9%
Apr
Apr
200
......
Gt West Elec-Chemical.20
105
July
105
July
346
10%
40
Mar
Apr
Apr
37H
4%
41
64%
12H
17
100
36%
540
14
Mar
32H
100%
305
14%
57H
30%
185
97
May
37H
4%
528
32H
L3%
June
20
4%
ta 4m
38%
42
64
66H
12%
13*
17
17H
9%
10H
17H
18
775
Feb
21
Aug
June
63%
Apr
Aug
June
36
Feb
112
47%
4%
Feb
Mar
General Metals
21
•^Preferred
70
31
80c
Jan
40
Aug
17
Jan
64
64
65
395
59
June
67
Feb
21%
21%
425
21
Apr
22%
1.50
2.00
200
1.50
Aug
2.00
Apr
Aug
80c
85c
1,940
50c
Feb
1.55
Apr
15%
90
4.50
Jan
Juiy
3.15
Jan
16%
6%
...
^1,194
J, 560
• I 475
38%
54%
Aug
Aug
10
July
Jan
48%
Jan
73
July
13
July
18%
11%
Aug
18
Feb
22
22
|100
5
38H
38H
38%
t662
26
Jan
10
44
44
44
50
44
Aug
54
Feb
*
29
29
30%
Jan
32
July
9%
17H
13,271
525
23%
39
Jan
Apr
Aug
__
Hutch Sugar Plantation. 15
20
Langendorf Utd Bak A.
3%
4
1,794
1,615
7%
23
15%
21%
15%
16
917
12
*
12
12
280
11
702
640
2% May
Jan
25H
37
July
875
25
42
Aug
3%
6H
23
3%
„
3
Co
*
37
36
38
38
Lockheed Aircraft..
1
m 9
Letourneau
Los
Angeles G&E pref. 100 j.06%
Magnavox Co Ltd
2H m 2%
Magnin (I) & Co com
* 118
39%
9%
106% 106%
2%
2H
17%
18
20%
21%
8%
Marchant Cal Mach com 10
21H
Market St Ry pr pref-.lOO
24
22 H
Natl Automotive Fibres..*
33
.32 H
*
Pref 100
•
1,812
20
2
July
287
16
Jan
8,088
14H
30
21%
6%
Mar
Jan
14
June
19%
Mar
Jan
33%
Feb
32%
14%
Jan
990
2,120
17
105
16H
20%
16%
727
3,141
Pacific Gas & Elec com.25
38
38
39 H
850
6% 1st preferred
25
5%% preferred
25
Pacific Lighting com—«._*
32 %
32%
32%
29%
2,703
53
56%
1,134
106
106H
75
29%
47%
Jan
28
16
29%
26
73
17
21%
Jan
620
16%
53
Jan
Apr
Aug
Aug
14
30
736
19%
5%
12%
13%
20%
Aug
Aug
Jan
July
July
Jan
18
July
17%
Mar
23
Feb
40%
July
Jan
32%
July
26%
104%
20
15%
Idaho
.1
6%
International Cinema... 1
1.15
2
Maryland-
15
6%
1.10
13
995
1.20
5%
International Tel & Tel...
600
1.00 May
10
12% May
13
2.95
19
Apr
July
Feb
Feb
....1
"48c
48c
51C
2,699
22c
Jan
75c
Feb
1
3.75
3.75
4.10
11,072
1.60
Jan
4.10
Aug
zlKlnner Airplane & Mot.l
3,002
37c
July
95c
Kleiber
Itaio Petroleum
swPreferred
40c
40c
42c
10
20c
20c
20 c
300
15c
Jan
58c
Feb
1
15c
15c
17c
1,200
10c
Mar
20c
Apr
M J & M & M Oil
1
31c
30c
31c
3,800
13c
Jan
35c
Feb
5
5
2
Motors
MenascoMfgCo
....1
Oahu
2
Jan
29%
July
Mar
58%
July
Jan
107 H
May
21c
Jan
54c
17%
14%
255
6%
Jan
July
Aug
2.95
4%
2,283
1,551
200
July
3.15 June
Feb
60
27
27
Aug
46%
12
41
Feb
SO
Mar
13
May
14%
140
10%
10%
275
10%
1%
39%
10%
220
1%
39%
1,642
10
10
100
31%
32%
488
27%
28%
15%
27%
28%
399
15%
40
40
"31%
25
.25
Standard Brands
Superior Port Cement A
Aug
Aug
27
1%
39%
25
preferred
June
3%
17%
22%
Mar
Apr
Aug
14%
.5
preferred
8
2.50
'
46%
(Del)
South Calif Edison
...
Tex Cons Oil
40
1.05
1.05
Title Guaranty pref
55
United Corp..
1.25
55
7%
30
6%
10
1%
6%
18
Feb
Jan
12%
Feb
Apr
14%
2%
Jan
40%
14%
Aug
Apr
31
Jan
32%
July
30
May
9% Aug
24% Feb
Feb
25%
27% Mar
15% July
28%
28%
16%
Mar
20
37
44
5
1,100
50
1.05
25
June
July
Feb
Jan
Aug
Aug
Jan
2.10 June
58
Aug
Vlca Co
Victor Equipment
5
Warner Bros Pictures
par
value,
sale—Not
c
Cash sale,
included
in
e
Apr
25c
Jan
55c
Feb
115
48%
Jan
70%
Apr
3.00
100
2.00
July
6%
Jan
4.00
4.15
Preferred
5%
3,050
4.15
750
3.10 June
4.50
12%
12%
25
50
38c
66%
3.00
38c
US Steel.
7%
38c
66%
U S Pete
rCash
Jan
1,750
10%
Silver King Coal.
No
27%
32c
27
27
Indemnity
Shasta Water
*
455
8%
10%
42%
July
Jan
4%
4%
Richfield Oil preferred
2
Mar
Jan
7%
14%
20
Packard Motors
2
6%
4.10
233
16
Pacific Port Cement pf.100
2 Pacific Western
6%
Jan
5,670
30c
16
Pacific Coast Agg.
Pacific Eastern Corp
5%%
2.65
7%
8%
42%
42
32c
Olaa Sugar
20
7%
20
O'Connor-Moffatt
Radio Corp
Feb
2.60
Sugar
Occidental Pete
Pacific
•
8%
"7%
Mountain City Copper
North American Aviation.
July
31
29 %
50
Honokaa Sugar Co
Feb
13
14
106 H
21%
Jan
89
40
21
18
Jan
Jan
700
"s6c
Holly Development
Jan
Jan
35
11
89
5%
Aug
11%
116%
3%
Aug
Aug
10%
88
6
19%
16
16%
5%
10%
65%
10 %
19H
June
6% May
105% Aug
1,310
88
19H
Apr
32 %
30
Pacific Can
Mar
Aug
7% July
27% June
925
10
15
6%
4%
20
10
Pacific Amer Fisheries..
21H
July
125
Co
1.
July
June
24
Oil Cons
Oliver United Filters A._*
1,415
21%
1%
5%
70
3H
37
1
2
Aug
21%
20
Hobbs Battery A..
40
Lincoln Petroleum
June
<4
205
Mar
38
91
1,460
Feb
Feb
50
Pineapple
July
July
July
22
22
...*
13%
4
1
2
*
preferred
July
12
46%
Feb
*
6%
12%
"L30
^..1
Aug
Co
Paauhau Sugar
20
12
21
31%
112
Hancock
B
61c
62c
Mar
Hale Bros Stores Inc
Ins
Aug
Aug
1.10
*
No Amer
42c
46c
25%
45%
26%
Golden State Co.
Occidental
May
4,850
2,100
Jan
14H
Apr
8H July
Jan
14H
19% May
No Am Inv 5%%
13%
60c
QOc
Jan
Feb
10
Natomas Co
July
45c
47c
17
30%
19%
Paint Corp B com..*
Gladding McBean
Salt
10
Apr
8
19
Gen
Leslie-Calif
Aug
Aug
taa
B
18%
100
Aug
Laundry..*
Island. Pine Co com
May
85c
75
■
Preferred
12
Apr
22%
23%
Mach Corp com.. 10
Insur
Mar
85c
Jan
Insur._25 _100
Corp
85
22%
45%
Jan
20
M
9%
28%
Jan
33
10
Jan
Apr
52
230
17%
6%
28%
185
Dumbarton Bridge.....10
Jan
62
Oil
50
Jan
E.ectric Bond & Share...5
General Electric
22
19%
Bros A com.....
7%
Jan
3%
32H
32
Honolulu
Jan
Feb
100
62
Home F &
16%
4%
Aug
Mar
23%
272
19%
Hung
1,350
28%
.80
9%
Crown Willamette 2d pref.
Feb
24H
19%
62
Hawaiian
16%
14%
13%
Aug
54
32%
Oil
79
Aug
42%
106H
53
Equip.5
com
7%
28%
Mar
°
170
Jan
10%
13%
8
58c
Cardinal Gold
Cities Service
Consolidated
Aug
20
60c
Claude Neon Lights
June
24H
Fireman's Fund Indem.10
Foster & Kleiser com..
7%
~80
_
2
July
7H
91H
Jan
655
Feb
76c
Jan
13%
13%
5%
7%
177%
Jan
15%
Canadian Pacific
220
90
39c
320
5%
1
Mar
54
Ewa Plantation
General Motors
180
30H
99%
U%
Jan
25,150
18
13
Cent Eureka Mining
Preferred
*
Emporium Capwell
Merc
1,532
7
High
Apr
67c
5
Calif Associates
24H
100
Fund
1,010
Jan
76c
Low
150
17%
3
July
Feb
*
preferred
Eldorado Oil Works
Derrick &
103
llVs
42%
Cst Cos G&E 6% 1st pf 100
Cons Aircraft Corp
1
Cons Chem Indus A
*
*
40%
100
17C
13%
July
Range Since Jan. 1 1936
for
Week
Shares
'
5
Aviation
Sales
174%
Aug
7%
Exchange
72c
18
Bunker Hill-Sullivan.... 10
2 Calif Art Tile A
Feb
48
10
5%
lH
High
170
Corp
Bendix
Feb
Apr
28 H
Clorox Chemical Co.
Galland
17
Low
170
...
Aviation Corp
Bancamerica-Blair.
30 H
Calif Water Serv pref-.lOO
Claude Neon Elec Prod.
Food
1,040
9,855
High
28 H
*
-
Packing Corp
Fireman's
Atlas
Low
*
Cement
Ink
Emsco
Range Since Jan. 1 1936
20
—
California Copper
Calif Cotton Mills
83
5%
for
o; Prices
Price
1
Anglo Nat'l Corp
Argonaut Mining..
Week
Shares
5%
Byron Jackson Co
Calif
22
5%
Bishop Oil
California
American Toll Bridge
203
Calamba Sugar com
Calaveras
High
Par
American Tel & Tel..-.100
Sales
Week's Range
Exchange—Chicago
Aug. 15 to Aug. 21, both inclusive, compiled from official sales lists
Inc
Sale
San
Curb
Direct Private Wire
Coffee & SugarEx.
Commodity
Exohange—San Francisco Stock
Francisco
Board of Trade—New York Curb Exchange (Associate)
of
Trade
Exchange
New York Curb Ex.
Los Angeles
Oakland
York
San Francisco StockExchange
San Francisco CurbExchange
Corporation Bond9
San Francisco
New York
New
Members: New York Stock
12%
495
10%
May
12%
Apr
Aug
12%
1,165
9%
May
14%
Feb
60%
range
8%
July
stock dividend paid Aug. 15, 1936.
for year,
x Ex-dividend,
y Ex rights.
2 Listed,
t In default.
X Company in bankruptcy, receivership
.
or
reorganization.
/
1936
Aug. 221
Financial Chronicle
1208
Canadian Markets
LISTED
Oct.
1 1956
Prov of British Columbia—
5s
July 12 1949
4)48
Oct
1 1953
Province of Manitoba—
4)4s
June 15 1936
5s
June 15 1954
5s..
Dec
2 1959
Prov of New Brunswick—
4)4s
..Apr
15 1960
4)4s
Apr
15 1961
Province of Nova Scotia—
4)4s
Sept 15 1952
5s
Mar
1 1960
4)4s
-Oct
5s
67
6s...
for
of Prices
Low
High
WppIC
ft C-v/v
112 )4
113K
11834 11934
121)4 12234
94
9534
5s
May
90
4s
June
1 1962
108)4 10934
116)4 11634
Canadian Oil pref
4)4s
100
10034
10134
10334
105
99
—
Mar
2 1950
4s
Feb
1 1958
4)4s
May
1 1961
112
5s
June
15 1943
88
90
5Hs
11034 1U34
Nov
15 1946
90
92
85
1 1951
Oct
4Ks
11134 11234
11834 11934
86
Wood,
100
51
248
Co.,
25
106
Apr
Aug
Aug
"45"
189
30
Apr
56
June
10,405
18)4
Apr
34 34
Jan
May
18)4
Aug
"Hi
371
934
950
Inc.
Dec
5s
15 1944
131
Canadian
40
Sept
1 1946
1 1954
10434
10734 10834
1 1960
104
July
103 34
10434
1 1946
July
634s.
11634
10)4
Jan
23
5
5)4
2,880
1,686
13)4
Aug
Jan
16)4
2134
534
Aug
Feb
July
28)4
Feb
Jan
76
Aug
6734
170
53)4
Mar
59
Mar
Jan
30
50
1
13
25
16
Feb
1,160
1,980
8)4
Jan
12 H
May
17)4
Aug
255
734
16
*
4)4
June
12
.*
5)4 May
101
52
"5134
.*
Apr
14)4
Apr
105)4
54)4
Aug
Feb
43)4 May
13,991
June
June
13)4
2,365
14
5
100
Feb
3)4
Jan
14)4
200
40c
Jan
2.25
Feb
3,860
6)4
Jan
17)4
Aug
46
"Tio
1734
*
1534
Lake of the Woods
*
27
27
305
11
Jar
27
Aug
*
67
130
65
Jai
70
July
2134
6734
2134
987
18 H
Jar
21)4
19
19
1,888
17H
Ma;
535
1.00
Jar
*
Loblaw Groc A
*
B.
Maple Leaf Milling
___*
Maple Leaf Milling pf.100
Massey-Harrls com
*
14
100
103
1,072
39
59
138
116 34
11534
116
4s
Jan
1 1962
10934
118
U834
3s
Jan
1 1962
102
5s—
Oct
1 1969
1 1969
5s
Feb
1 1970
102 34
12034 12134
12034 12134
Jar
105
Jan
Jar
39
Mar
Jar
180
Aug
146
Juni
Junt
138
July
July
20
Mar
Jar
95
Feb
16)4
17J4
8834
215
434
1,860
3)4
5
21 )4
*
*
*
22
100
94
23
"87
434,
Porto Rico pref.
79
Jan
Apr
6)4
June
82
July
11%
Jan
27
Jan
97
Mar
395
1534
2934
Power Corp
Aug
7)4
5
130
10
Page-Hersey....
Pantepec Oil
1
Feb
5,740
Photo Engravers
1 1956
1 1957
July
17)4
45
734
138
National Sewer Pipe A
Grand Trunk Pacific Ry—
Feb
July
5s
Jar
27)4
715
180
734
Jan
Mar
40
12)4
31
38
180
100
Preferred
7)4
97
104
*
—
5)4
Auj
29)4 Maj
410
100
Corp common
Jan
Jan
Api
3H
1,810
3034
1434
30
*
2.25
2
434
Aug
June
19
"
'
622
4
434
100
Preferred...;
Moore
1.90
......
National Grocers
12734 128
11834 11934
117
Feb
5)4
18)4
A
4348-.
434s
Aug
Aug
64)4
-
Canadian Northern Ry—
116
3
25
112
McColl-Frontenac
Ask
Bid
Ask
National Ry—
Feb
11)4
Apr
May
Laura Secord
Ask
Ry—
Government Guaranteed Bonds
4)4s
Sept
1 1951
4)4s..—-June 15 1955
20
76
Preferred
Bid
1)4
35
Feb
1934
Internatl Nickel com
11534 ,116 34
Dominion
8
4)4 May
8
May
—*
Imperial Tobacco
IntI Milling pref
Dec
434s
9934 10034
1 1944
14
—*
HInde & Dauch
5s
-July
4>4s
17)4
225
Gypsum
4J4s
95 34
205)4
Jan
Apr
Great West Saddlery pf 100
Bid
Canadian Pacific
95
Mar
May
Goodyear Tire...
Ask
.112 34 11334
Feb
18)4
57)4
189
410
16
Kelvinator
perpetual debentures.
Sept 15 1942
July
102
B_
6s
Feb
102)4
8)4
45
"25~"
*
Railway Bonds
4s
Aug
3)4
Apr
15)4
950
Internatl Utilities A.....*
■
Aug
26
Fanny Farmer
Ford A
Private wires to Toronto and Montreal
Bid
26
Jan
221
25
Hunts A
Canadian Pacific Ry—
Aug
Feb
May
1734
55
Easy Washing
-*
Economic Investment. .50
Preferred
&
5)4
680
Equitable Life of Can—
New York
Aug
15)4
2234
Eng Electric A
14 Wall St.
June
101
15
Coal B 25
Dominion Stores
*
Gundy
Jan
138
Aug
Aug
July
206
Dominion Steel &
Bonds
24)4
24)4
2)4
18
Jan
25
1134
1054
Wineries
Distillers-Seagrams
Dominion Coal pref
Canadian
123
Aug
Jan
3,987
B
Canadian
High
12
45
138
*
Carnation Co pref.....100
Cockshutt
*
Consolidated Bakeries
*
Consolidated Smelters..25
Consumers Gas
100
Cosmos
*
Preferred
..100
Crow's Nest
...100
113
Prov of Saskatchewan—
11234 11334
Canadian
108 )4
30
100
Pacific Ry
25
Wallpaper A—
Canadian
11234 11334
10934
4)4s
Low
Shares
Canadian Oil
.Jan
15 1965
Province df Quebec—
Price
Par
(<Concluded)
Stocks
8834
_
Week's Range
Sale
15 1943
1 1959
•
Range Since Jan. 1 1936
Last
102
1 1942
Sept
Sales
Friday
Ask
3 1937
--Jan
5)4s
68
/66
/65
1 1948
...Jan
5s
Exchange
Toronto Stock
Bid
Province of Ontario—
Ask
Bid
UNLISTED
Issues
Provincial and Municipal
Province of Alberta—
AND
Feb
18)4
Apr
423
19
Jan
29)4
_._.*
100
29
Apr
31
June
Russell Motor pref.__.100
20
Jan
116
July
Saguenay Power pref...
Simpsons B
32
Riverside Silk A
Duncanson, White & Co.
Steel of Canada
15
Union
Toronto Stock Exchange
Last
Gas
of Prices
High
Low
1 1936
Range Since Jan.
for
High
Low
Aug
80
Feb
1034
100
Jan
10)4
Aug
40
6734
6134
(Hiram)
Preferred
Westons
100
1634
(Geo) common..*
103
100
Winnipeg Electric
1.60
*
Abitibi.
Bathurst Power A
*
'
___*
Beatty Brothers
*
107
Beauharnois Power
*
3
Bell Telephone
1.25
234
14
July
11
65
634
Jan
634
1234
334
20
Aug
1334
Aug
1434 June
10
634
1234
334
30
93
3
124
149
271
141
Apr
20
27
Jan
234
148
2834
2834
pref.50
1,350
5
Aug
*
Jan
134 June
Jan
j__50
*
1134
2634
1134
Brzailian
*
....
Brewers & Distillers
95c
Brewing Corp. of Canada.
95c
134
134
.
.2634
12
1.00
14
14
16
24
5,016
Brit Col Power A..
B
*
Building Products A
43
2634
__50c
Burry Biscuit-
50
25
Burry Biscuit pref
Burt (FN)
3034
434
4334
2634
43
50
25
*
534
1st preferred
..100
..50
"4234"
B preferred ...
*
Canada Cement
100
Preferred
July
Feb
Canada Packers
*
Canada Steamships
90
*
Canada Steamships
pf_100
Huron
Apr
1834
Mar
Jan
2734
Apr
May
32 34
Mar
July
534
4334
Aug
13
1634
2834
334
June
60
Aug
3734
Jan
4734
Mar
434
Apr
634
10034
Feb
Feb
198
198
10
182)4
Apr
213
Feb
275
282
18
271
Jan
300
175
180
39
164
Jan
182
Feb
220
220
20
220
July
235
Mar
100
147
147
16
137)4
Jan
160
Feb
...100
80
80
90
70
July
90
Mar
10
105
9
July
14)4
198
'17834
220
Jan
30
May
44
Jan
505
6
Jan
8
&
Erie
10
20% preferred
Real Estate Loan
77
80
542
58
Jan
81
88
90
240
80
May
90
634
134
734
7
16
44
4
Preferred
pref.
*
...
*
102
7
102
734
Dredge
*
Canadian General EIec—50
"46
Cndn Industrial Alcohol A*
""634
65
200
5
46
,170
634
5 Vs
.
20
4634
170
734
534
134
Apr
80
40
1
40
Aug
40
Aug
80
107
80
Aug
95
Feb
Toronto Stock
Exchange—Curb Section
Aug. 15 to Aug. 21, both inclusive, compiled from
Tjasl
July
Bruck Silk.
*
July
official sales lists
Sales
Week
s
Range
8834
5
Jan
June
Apr
57
534
101
834
9
*
Canada Paving pref
Canada Vinegars.
Range Since Jan. 1 1936
for
Canadian Wire Box A
*
23%
.1
•1)4
Feb
July
Feb
July
May
70
3734
Jan
50
June
Jan
170
Aug
10
10
150
32
9)4
475
33
745
H
8
Aug
6)4
Mar
30)4 May
50
1)4
230
19)4
155
21
'
24
High
Low
70
16)4
10)4
Mar
June
35
Feb
2
Aug
Jan
May
27 )4
Jan
26)4
Jan
June
Feb
455
10,060
9)4
33
Week
Shares
8)4
*
*
534
1334
2034
9
*
Feb
July
8
Canada Malting
Aug
May
of Prices
High
Low
Canada Bud...
16
4
Price
Feb
15
40
20
Par
Feb
9
32
240
334
Sale
Stocks—
634 June
170
1,030
1934
Canadian
434
101
7
45
834
25
Jan
40
80
100
Toronto General Trusts 100
Feb
*
Car
Feb
Loan and Trust—
Aug
90
100
Conv preferred
Feb
221
Aug
10
Canadian Bakeries pref
Canadian
58)4 June
Feb
50
16
Canadian Canuers 1st
Jan
Aug
27
51)4
36
,
July
Canada Permanent.
44
Canada Wire & Cable B._ *
Canadian Canners
Mar
May
197)4
100
Jan
100
134
"734
4)4
.4
101
...100
Feb
4234
634
100
634
7834
634
534
Aug
103
202
"198"
100
100
Royal
57
Friday
Canada Bread
Jan
2)4 June
67
Jan
Aug
198
Nova Scotia
434
50
150
May
2)4
135
Jan
17)4
170
Feb
1.40
Jan
10
98
100
Apr
222)4
June
1534
June
165
13)4
4,695
Jan
33
Jan
20
59
Feb
10
65
Jan
150
Aug
1,000
42
19
Apr
May
4)4
36
190
15934
100
Mar
33
4134
Aug
149
Montreal
85c
360
59
42
Feb
36)4
Apr
Mar
83
Jan
134
2334
3034
434
July
4)4
17)4
70
4
July
14 H
26)4
432
1634
1734
10234 103
234
234
June
14
2)4 May
13,196
1,987
54
106
Jan
9
22
-
934
5,530
1,415
14
*
3634
1834
534
June
8)4 June
102
205
Imperial.
2634
2534
2334
Preferred
British American Oil
3334
1834
534
Apr
9)4 June
15534 15934
Aug
Jan
70
490
2
Aug
202
100
Toronto.,
Brantford Cord 1st pref.25
8)4
910
56
57
100
Dominion
334
220
July
Banks—
Canada.
Aug
107
61
60
4
Commerce
334
67)4
Jan
Feb
107
105
100
Blue Ribbon 634%
-1.90
•
634
1234
334
*
B—
1.40
10
100
6% preferred
Barcelona
41
Jan
2,774
49
*
Zimmerknit
Jan
Apr
57
10
j,.
Western Can Flour
Aug
27
49)4
30
3434
1834
6 54
291
1334
1134
334
;*
com
•
625
,
*
com
New preferred
Week
Shares
70
*
Preferred.
Sales
Weeks Range
Sale
Price
Par
Stocks—
Walker
compiled from official sales lists
Friday
568
25
United Steel
Aug. 15 to Aug. 21, both inclusive,
78
Tip Top
Tip Top Tailors pref—.100
Twin City.
WA. 3401-8
King Street West, Toronto.
Jan
10
*
;
Preferred
New York Curb (Associate)
Aug
101)4
June
*
Standard Steel pref
Exchange, Inc.
Aug
4
*
Standard Chemical
Toronto Stock Exchange
Members
Canadian Commodity
,100
100)4
5
*
100
Simpsons Ltd pref
STOCK BROKERS
2834
*
Pressed Metals
July
634
July
1234
Feb
5
July
11
Jan
Canadian Marconi
Consol Press
5
*
Corrugated Box pref... 100
De Haviiand
*
Dlsher Steel pref
*
4
*
Bridge
No par value.
3H
43
Jan
2H
9
Feb
1)4
5
554
82
4
110
5
June
20
77
Apr
90
Jan
105
2
Jan
7
Mar
25
10
Aug
10
*
Dominion
80 %
10
42)4
43 H
490
1)4
34)4
Apr
11)4
43)4
Jan
Mar
Aug
Volume
Financial
143
Chronicle
1209
Canadian Markets—Listed and Unlisted
Toronto Stock Exchange—Curb Section
Friday
Last
(Concluded)
Par
Dom Tar <fc Chemical
Week's Range
of Prices
*
Preferred
100
Honey Dew
Honey Dew pref
Imperial Oil
94
43
4
94
5
440
60
56
Jan
80
4
May
5%
81
50
10
21
55
60
7
Jan
Noranda
*
Northern Canada
Aug
O'Brien Gold
1
Feb
Mar
Olga Oil & Gas New
Omega Gold
4
Jan
24 H
Jan
Apr
Pamour-Porcupind
Apr
Perron Gold:
Aug
Jan
13H
Mar
34%
Feb
Premier Gold
56
56
20
35
June
10
31%
9
502
30 %
5.50
6.50
6c
6c
7%c
65c
70c
4.75
4.55
4.85
98c
90c
1.00
1.29
1.75
HIl
Pioneer Gold
June
56
2%c
2%C
'3Hc
6.60
6.55
7.35
1
1
7.50
7.60
7.85
Hi
3.18
3.06
3.30
1.75
1.73
1.90
Preston (new)
*
;
14%
Shawinigan
Standard Paving
117%
5%
20%
3%
*
*
Preferred
100
25
14%
15%
1.25
;*
North Star Oil pref
5
Robt Simpson pref
100
Roger Majestic Corp Ltd..
1.25
50
1.00
Jan
1
75
20
3.15
Jan
4.00
Mar
12
111%
24
17%
Feb
2.15
2.30
82c
78c
82c
Jan
117%
Aug
July
6%
23%
Mar
Red Lake-Gold Shore
4,820
1.15
Jan
4%
Aug
Reno Gold
11
Jan
Julv
Roche-Long
Feb
Royalite Oil
Jan
2
27
70
50
Feb
2.50
30
66
Aug
73%
Aug
41
352
30
Jan
41
Aug
39
250
32
Jan
40
Mar
19
46
37
35%
45
34
July
39
80
110
May
119
287
20
Apr
34
Julv
485
2
Aug
*
18%
18
Toronto Elevators
!
*
Toronto Elevators pref. 100
United Fuel pref
100
*112"*"
112
114
28
30
35H
2
*
10c
7%c
10c
1
4.15
3.95
4.20
.._*
2.00
1.85
2.25
1
1.25
1.22
1.28
33c
30c
46c
Read-Authier
"
75
73%
28
2.15
1
June
4
71
*
*
Quebec Gold
Quemont Mining
18%
350
35%
38%
*
Brew
May
334
25
1%
13
73%
*
Thayers preferred
110
41
100
ord
Prospectors Airways..;
2%
18
Aug
Lac.
_
.
I
1.90
1.90
Shawkey Gold..11111111*
Sheep Creek
___50c
Sherrltt-Gordon..
1
1.00
88c
81c
81c
Feb
1.45
1.45
Aug. 15
to
Siscoe Gold..
IIII1
4.30
4.30
4.75
Feb
Sladen-M alart lc_____IIIIl
62c
59o
73c
Feb
Exchange—Mining Section
Aug. 21, both inclusive, compiled from official sales lists
__
Sale
Stocks—
Par
Price
Afton Gold.
10c
9c
...
AJax Oil & Gas
...1
Alexandria Gold...
...1
~4%c
Algoma Mining
Anglo Huronian
6%c
6.75
Argosy Gold Mines
1.51
Arntfield
:1
95c
Ashley Gold
Astorla-Rouyn..
4%c
Bagamac Rouyn
8c
Barry-Hollinger.
5c
14c
of Prices
Low
for
Range Since Jan. 1 1936
Shares
9%c June
4c May
10%c
7,100
9%c 223,848
45c
45c
3,400
4c
5%c 204,900
6%c 7%c 19,200
6.75
7.50
4,037
1.51
1.70
12,609
87c
1.00
30,000
13c
16c
58,100
4c
4%c 19,550
7%c
9c, 32,600
7c
41,200
25c
52c
65c
1.41
1.40
1:45
1.60
Bidgooe Kirk
20,975
13,800
21,800
31,435
*
B R X Gold Mines.
.50c
Buffalo Ankerite
Buffalo Canadian..
...1
1.60
1.74
52c
51c
54c
26c
Big Missouri
Bobjo Mines
25c
12%c
7.80
31Hc
12Hc 12^c
Calgary & Edmonton...
7.25
8.30
5c
5c
12% c
Bunker Hill...
12c
5%c
12% c
1.35
40c June
Canadian-Malartic
*
Central-Patricia
Jan
*
5c
5c
6c
66c
64c
68c
Anthony Gold
II
Sudbury Basin
*
Sudbury Contact....Hill
27c
25c
30c
4.10
Jan
7.50
Apr
65c
Apr
6Hc May
2%c
Jan
1.71
Jan
1.00
,1.71
3.15
Tashota
3.15
20
Goldfields..
3.45
20
35c
38c
5.85
6.00
35c
1
2.03
3Hc
4Hc
Aug
Wright-Hargr eaves_
*
8.05
7.80
8.15
Ymir Yankee Girl
___*
43c
43c
50c
5Hc
Jan
3 He
Mar
1
31c
6Hc
llMc
Gold
*
5.90
Feb
Feb
14c June
40c
28c
Mar
69c
1.20 June
1.84
July
2.00
51c
Aug
Apr
76c
36 He
Aug
2,300
9,920
14,800
9c
Jan
25 He
3.80
Jan
8.95
Jan
Jan
18c
1.15
1.48
6,625
73c
Jan
1.60 June
11c
770
5c
Jan
18c June
1.19
16,950
1.80
2.10
1.15
Jan
1.30
1.39
3,375
5,400
1.24
Jan
1.69
4.95
July
Aug
59c
1.40
Feb
2.10
Aug
90c
Jan
1.60
Feb
19,720
42,125
2.00
Aug
2.46
July
9c
3c
Jan
0%
6%
1,000
4%
Jan
10%
3.30
3.30
100
2.80
Jan
4.25 June
2.05
2.05
2.19
1.65
1.65
1.78
6c
54%
4%C
Eastern Malartlc Gold M.l
Eldorado
70c
70c
....I.*
55%
6%c
76% c
90c
1.07
*9l00
8.80
9.25
6c
5%c
8c
33c
30c
11,011
10,080
6,250
47,200
39,950
29,225
8,199
38,400
38%c 387,050
III".I*
1.11
1.10
1.20
i
35c
33 He
38c
IIIIIHi
8c
6c
14c
1
20c
19c
22%c
.IIII
29c
29c
37c
lie
12c
72c
I Hill
Hill
61c
61c
12c
12c
__i
99c
98c
1.05
II. 11
Hi
4%c
4%c
5%c
2.74
2.70
33,060
22,600
69,700
58,600
54,071
4,300
131,315
3,500
1.80
Jan
1.22 May
42
Jan
Feb
82c
Aug
1.38
Mar
6.90
Jan
9.60
July
3c
Jan
10c
Feb
30c
Aug
40c
75c
Mar
1.45
4%c
Jan
6c
Jan
3%c
Jan
17c May
5%c
Jan
21c
Mar
Homestead Oil...
Howey Gold
l
63c
75c
2,400
1
1.25
1.10
1.40
...1
64c
55c
68c
23,635
141,430
Kirk Hudson Bay
Kirkland-Lake
Laguma Gold Mines
Lake Shore Mines
1
Lamaque-Contact
64c
63c
65c
1
57%c
57%c
68c
1
32c
32c
Lava Cap Gold
44Mc
1
1.00
80c
1.00
Lebel Oro
l
17c
17c
20c
Lee Gold Mines
l
Little Long Lac
I.I*
5.90
5.90
6.10
1
4.20
4.00
4.35
Macassa Mines.
MacLeod-Cockshutt
7c
6%c
9c
*
3.95
3.95
Manitoba & Eastern
*
25% c
25Hc
29c
Maple Leaf Mines
1
23c
23c
28c
May Spiers Gold Mines...
Mclntyre Porcupine
5
McKenzie Red Lake
;_1
40c
40c
48c
McMillan Gold
McVittie-Graham
1
41%c
1.90
9c
1
21c
McWatters Gold
*
1.43
Marland Oil
*
Mining Corp
*
Minto Gold
*
Moneta-Porcupine
1
Morris-Kirkland
4.25
41Hc 42%c
1.84
2.00
7%c 10Hc
21c 21%c
1.43
1.60
13Hc 13% c
1.60
1.38
1.66
41c
41c
44c
-24c
23c
26c
1
55c 59Hc
.1
'4%'c
Newbec Mines
*
4%c
4%c
4%c
5%c
5%c
New Golden Rose.-i
1
1,28
1.15
1.28
Murphy Mines
8,400
1,777
180,310
•22,525
42,973
147,200
9,585
15,890
28,450
175,400
12,050
53,050
1,170
29,680
743,000
16,821
86c
Aug
10Hc June
Jan
75c
July
Jan
Mar
l
15c
2c
7c
67c
Aug
12c
Aug
1.20 May
13%
78c
24c
40c June
Jan
67,350
40c
Feb
Feb
15c
67c
Jan
26Hc
8c
2.99
78c
July
48c June
75c
14^c
40c
61H June
July
14c
l
2.18 May
7c
14c
...1
Apr
90c
14c
;
2.75
Jan
14%c
J M Consolidated
Kerr Lake
Feb
July
l
4,245
45c
43,050
90c 137,350
75c
49,397
14c May
53c
Hollinger Consolidated...5
Harker Gold
July
4%c
27,895
18,000
85,380
Hard Rock
1.05
Ventures
W aite-A mulet
Wayside
12
Jan
1.80
Jan
3.30
21c
Mar
2.55
Aug
July
2.10 May
3.25
Jan
70c
_
July
5c
Feb
1.44
1.40 May
10c Aug
Jan
4.35
July
50c
Jan
2.40
Aug
1.00
Mar
5Hc
Mar
1.30 May
76c Aug
27c May
39 He
Feb
Jan
87c
4.75
Aug
July
Aug
43c June
73c
Aug
3Hc
Mar
8HO
Feb
18Hc
Jan
75c
Aug
18c
Jan
38 He
4.95
Feb
3.00
Jan
60
Mar
2.25
2.03
June
28o
July
20
Jan
4.30
Aug
3.50
Mar
8
Feb
20c June
Jan
83c
July
68c May
Mar
6.70
1.65 June
2.50
1.20
Jan
2.25
Aug
20c
Jan
1.05
Aug
1.60
Jan
July
Apr
2.50
Feb
1.00
Jan
1.80
July
9 He
June
20Hc
Feb
3c
Jan
7.55
Mar
9.00
Feb
38c
Mar
71c
Jan
5%c June
Toronto Stock Exchange—Mining Curb Section
See
Page 1215
Montreal Stock
37c
Jan
3.63
July
I8H0 May
17 H
July
11c
Jan
87c
July
55 He
29c
Mar
1.00
July
Jan
80 He
Aug
55c
Feb«|
75c
Aug
30c
Jan
1.75
July
41c May
94c May
Aug
68c
Aug
Jan
60c
Mar
5c
Jan
70c
Aug
12c
Jan
2%c
5.90
3.12
47c
July
1.38 May
29 He
Mar
Mar
15c
Aug
July
7.75
Feb
Jan
3.50 June
4.90 June
5.05 May
5Hc
5Hc
Jan
Jan
30c
Aug
40c
40
Aug
55c
July
Mar
49 %
Jan
1.22
Mar
2.24
July
2 He May
19c July
15c
Feb
30c
42 c
Aug
Jan
19,275
2,500
1.19
Apr
13o
Jan
24c
Feb
59,190
12,600
10,350
1.11
Apr
1.66
Aug
7 He
Jan
1.00
Mar
6Hc
Jan
10,350
53,300
38,200
5,775
54c June
1.78 June
33c May
80c
Feb
7 H
May1
%
Jan
2c
Jan
5Hc
July
1.00
July
1.40
Aug
Sales
Friday
Last
Stocks-
Par
Acme Glove Works Ltd-.*
Week's Range
for
Sale
of Prices
Week
Price
Low
21
19
Agnew-Surpass Shoe..
*
Ang-Cndn T pf 7%C reg 50
Associated
Breweries
Preferred
*
9%
...100
109H
13H
Bell Telephone, j
..100
Brazilian Tr, Lt & Pr
*
British Col Power Corp A. *
149H
11%
B
1.60
30
,
9%
109
12%
1.60
Silk
21
151
30
Building Products A
Canada Cement
;_*
Preferred
43
*
'T%
77
..100
Canada Forging cl
*
"5%
*
A.,
Can North Power
Corp
25%
Canada
5%
25
1.60
Steamship
*
Canada Steamship pref. 100
Canadian Bronze
6%
10
Jan
1
51 %
Jan
55
July
10
65
9%
July
15
Jan
May
110
Feb
Mar
17
Feb
150
Feb
110
95
813
13K
1.60
6
669
4,490
30 %
1,457
4
10
100
Converters..100
Candn
Hydro-Elec pref 100
Candn Industrial Alcohol.*
Class B
*
Cndn Locomotive
6
May
45
80
1%
Apr
3%
Feb
l*
195
o
102H
2,355
3,175
325
27%
102H 102%
28
28
28%
38H
6%
5%
38%
40
6%
7%
5%
6
55%
Dlst Corp Seagrams
23
23
42%
42
18
17%
6
100
95
June
Jan
1.00
30
Jan
May
105
Jan
Jan
34
Mar
Apr
July
June
1.00 Aug
64
5%
97
125
23 %
577
26
4,780
630
10
48
Jan
6H
12 H
Feb
5H
11H
Jan
15H
Feb
9%
Feb
56
2,588
51
Aug
May
17
100
15
Mar
24%
43H
18%
5%
65%
146
7%
1,360
18 H
7,014
1,430
Jan
Jan
43%
Aug
14 H
Apr
18%
Aug
106
Jan
115
Feb
70
136 H
Jan
155
July
495
4%
May
July
July
8
Feb
5
381
60
5
142
1
1.65
5
23%
396
135
10 H
17
17%
3%
720
13
Mar
3
June
3H
3%
5%
90
Feb
32
20
*
17
34 %
20
.100
57% May
Apr
23
17
Jan
Jan
5H
*
1.65
4.00
10%
*
•__*
Jan
150
112
146
"7"
5
23%
1
Charles
Feb
128
Jan
112
8%
2,905
152
5%
10
Eastern Dairy
Preferred...
31%
Apr
May
May
May
Electrolux Corp
English Electric A
General Steel Wares
20%
5%
13
25 H
4H May
1H July
19%
Jan
Gurd.
Feb
Apr
July
July
July
108 H
6
112
5%
Dominion Textile pref. 100
Foundation Co of Can...*
15%
41
May
12
150
100
*
8%
20
6%
31
102 H
•
Con Min & Smelt new
25
Crown Cork & Seal Co...*
Dryden Paper
Feb
1.75
25
1.00
Dominion Steel & Coal B 25
Dominion Textile
*
Aug
July
121
1134
5%
55%
16%
*
7
Jan
Feb
27%
25
1.00
100
81H
.*
Feb
Aug
Jan
120
11%
Dominion Bridge..
June
8
Jan
3
43 H
22 H
25
*
Dominion Coal pref
58
5%
16
670
120
Canadian Pacific Ry.._.25
Cockshutt Plow...
*
Dominion Glass
Feb
935
10
Preferred 7%.
37%
Jan
15
Canadian Cottons pref. 100
Canadian Foreign Invest.*
Feb
Jan
28
15%
33
1,215
Jan
Jan
July
38
Canadian
Mar
9%
May
108
8%
19%
27%
H
4%
1H May
141
190
8%
43%
6%
80%
5%
26%
7%
19%
27%
10H
3%
38
*
104
7
108
__25
7H June
317
*
Preferred
June
45
Canadian Bronze pref. .100
Canadian Car & Foundry. *
Canadian Celanese.
High
21
9
4
8
Low
14% June
55
12
Mills..11.11.*
8H
Range Since Jan. I 1936
Shares
147H 149H
*
Bruck
High
8%
55
Bathurst Pow & Paper A.*
Bawlf N Grain
*
Preferred
63c
51 %c
Exchange
Aug. 15 to Aug. 21, both inclusive, compiled from official sales lists
Jan
Mar
95Hc Mar
1.04
Gunnar Gold
60c
Feb
2.20
Halcrow-S wayze
85c
13c May
6c
8c
Greene Stabell
Grull Wlhksne
Exploration. 1
Towagamac
July
2c
8,300
1.13
_*
Aug
7.25
Feb
Mar
1.00
Grandoro
1.80
2.20
Jan
13c
2.00
Granada Gold
1.70
2.00
July
1.62
4,350
74,120
8c
Graham-Bousquet
July
Feb
1.00
Goldale
7.60
July
2.00
1
1.70
2.03
Jan
*
,
*
1
10c June
Clericy Consolidated
*
Commonwealth Pete.....*
Conlagas...
5
Federal-Kirkland
Mar
1.25 May
Aug
July
40c
Glenora Gold
Feb
3-95
10,350
2.41
Lake..,.
.1
4.55
16c 16%c
16c
1.85
11c
25,830
God's
4.15
4.25
1
1.71
64,550
1,750
Goodfish Mining.
Sullivan Consolidated
Sylvanite Gold
2.30
45c
Falconbridge
4Hc
1.85
1.42
1.13
55%
July
Jan
2.15
4.20
Explorers
1.74
2c
Jan
9%0
3%C
40c
Dominion
5.20 June
Jan
Jan
1.00
10c
4.00
1
Mar
1.12
2.87
1.41
42c
Cons Chibougamau
Dome Mines
3.50
50 Ho
Jan
1,900
62,005
35,680
93,450
30,050
91,035
18,000
5,043
16,000
68,010
11,230
1,400
2.12
Aug
12Hc May
4.10
*
July
15c May
85c June
56c
85c
.*
Feb
10c
*
Coniaurum
7.00
Aug
Mar
1.15 June
_.:__*
88c May
70c
lHc
3%c
1.31
Central Porcupine
Chemical Research
Chromium Mining
Jan
6c
8.45
Consolidated.50c
White Eagle
*
Feb
1.95
Cariboo Gold
Castle Trethewey*
34c
40c
Apr
Aug
18Hc
11c
Calmont Oils
Aug
63c May
Aug
T exas-Canadian.
High
10c
52c
1
Beattie Gold Mines
65%
Jan
75c
*
Teck-IIughes
Low
0%c
20c
Bear Exploration._
Jan
1.90
8,850
12,395
10,750
4,515
208,673
31,780
8,805
52,700
30,300
11,315
Week
High
5c
Base Metals
Jan
44 H
28Hc
23,076
Toburn Gold
Acme Gas & Oil...
3.05
1.02 154,975
South Tlblemont
Sales
Week's Range
2.04
Stadacona-Rouyn
Southwest Petroleum
Friday
Last
High
July
288
1.74
Feb
H
3%
4,500
2,000
11,414
71,300
9,300
552,700
27Hc 27Hc
San Antonio
St.
Toronto Stock
Low
2,30
Mar
3H
3%
117H 117%
6
5%
20
20%
3
4%
56c
1.50
Pickle Crow
Aug
"5l50
2,745
5,072
12,400
66,375
23,900
31,847
30,758
122,358
157,675
63,730
17,020
7,290
13,350
47,775
1,300
65H
1
56
33
63
50c
*
Peterson-Cobalt
4,367
2.60
1
Apr
35
10
63
Range Since Jan. 1 1936
Shares
High
2.45
2.45
Paymaster Consolidated.. 1
39%
34H
Low
Price
67c
Aug
7H
60
34%
30H
Week
*
12
"
'30%
for
of Prices
Mining. *
70
30
105
July
6%
Week's Range
5
44
Jan
20H
125
96
Niplsslng
Jan
4
10H
8,337
July
8H
Par
Mar
30
60
6%
Stocks (Concluded)
Apr
44
10H
20H
6H
58
*
National Steel Car
Walkervllle
Jan
8
20%
6%
*
High
Low
Sh ares
Last
Sale
60
International Petroleum. _*
Langleys pref
100
Mercury Mills pref
100
Stop & Shop.
Supersilk pref
Super Petroleum
Tamblyn
Range Sinc&
42-
*
Int Metal Indust
*
Int Metal Indust pref..100
North Star
High
93
5%
*
Montreal Power
Low
7%
Hamilton Bridge
_*
Hamilton Bridge pref. .100
Jan. 1 1936
Week
Price
Sales,
Friday
for
Sale
Stocks
Toronto Stock Exchange—Mining Section
Sales
6,425
180
Jan
6
160
5
Aug
90
4
95
July
79
Jan
148
June
7%
3%
Aug
Feb
28%
Feb
24
Feb
18%
Apr
5%
Jan
8H
Mar
100
Jan
Gypsum. Lime & Alabast.*
Hamilton Bridge pref. .100
7%
8%
1,790
42%
42 H
42%
25
25 H
Jan
Hollinger Gold Mines
14
14%
1,547
13.60
Mar
13H
14%
11%
90%
13%
£1
7%
7%
7%
515
*
51%
94%
52%
93%
25%
4%
53%
94%
7,558
27
2,329
5
30
2
May
4
Jan
30
40
Jan
55
July
Howard Smith
Paper
Preferred
5
*
100
Imperial Tobacco of Can.5
Preferred
Int Nickel of Canada
International Power pf_100
Lake of the Woods....100
Lindsay (C W)
Preferred
*
No par value.
11%
92
27
>
.100
55
55
12
140
92
234
14
2,015
55%
93
5% June
9% June
88
13%
Apr
8H
45
17H
14H
119
Jan
July
Jan
Mar
Mar
14%
7
Mar
Apr
.43 H
Apr
54%
Aug
Jan
94%
Aug
Aug
57
16 H
Jan
7%
27
Mar
Feb
Canadian Markets
Listed and Unlisted
~
of Prices
High
Low
Stocks
Price
Par
(Concluded)
......
High
Jan
17%
26
Jan
35
Jan
30
May
34
Jan-
55%
Apr
60
Jan
Greene-Stabell Mines
85
Apr
103
Jan
J-M Consol
Jan
45
44
July
Jan
Feb
14
13%
35
35
Montreal L H & Pr Cons.*
31
30%
31%
57
58
35
93%
43%
43%
94
35
44
1,717
39
-
..40
_
-
-
.100
_
"44
*
National Breweries
"25
Preferred
42%
*
Nat'l Steel Car Corp
43%
120
39%
15%
155
13
15,
29%
30
90
Niagara V ire Weaving pf *
61
61
50
63%
65%
44%
Oglivie Flour Mills.
*
lioo
Ottawa
Penmans.
327
18
53
56
122
5
18
123
Jan
35
48
Mar
57
Jan
3
118
Jan
125
_
Preferred..^
.100
__
"
14%
Quebec Power
Regent Knitting
19 %
11%
Jan
1834
Feb
14%
Jan
20
Aug
455
6
4%
6
6
18
18
100
102
Saguenay Power pref.
"*
St Lawrence Corp
""2%
"50
preferred
11%
33%
20%
17%
St Lawrence Paper pref 1100
Shawinigan W & Power..*
Sherwin Williams of Can.*
20
21
17%
Feb
Jan
1834
104
July
6o
Jan
13c
Jan
46 %c
29c
July
500
6%c
41%
9c
103,600
3o
Apr
14c
Aug
41%
190
Mar
46 H
6%c
i~07
20
Jan
Jan
June .127 34
130
114
76
76
76
5
75
May
80
Feb
14
11%
67%
11%
1134
982
11
June
66%
67%
995
57
Jan
67 34
Apr
60%
60%
61
406
49 34
Jan
61
Aug
*
.
1
146
1.15
Feb
334
Aug
55
5.10,June
31%
Feb
Jan
1.75
Feb
3.95
Mar
7.55
July
Aug
11.60
1.83
Feb
3.10
Aug
70c June
1 40
May
4.00
3.92
4.25
10,166
1.43
Jan
4.40
July
95c
88c
1.03
61,800
80o
July
1.03
July
4.35
4.35
4.75
16,095
2.88
Aug
62c
59%c
72c
1.92
1.71
2.03
25,150
54,161
6.00
5.85
6.00
915
Mar
4.75
76o
2.03
Aug
Mar
6.65
July
24c May
42c
May
4.30
92c
70c
1.05
•
2.30
2.20
2.30
14,800
2,900
10c
10c
1,500
7.75
8.10
515
6%c
8c
9,700
1.16
1.18
550
2.43
Wayside Con G M Ltd. 50c
Jan
42 %c June
830 Mar
Ltd—1
*
Wright-Harg reaves
Aug
Feb
Jan
2 50
9%o June
21c
Feb
Mar
8.90
Feb
2o
Jan
ll%o
98c
Mar
1.42
Feb
Mar
4.75
July
4o
June
10%o
1.60
Aug
6%c
*
1
1
Central Patricia Gold
4.20
6c
9c
3,300
60,800
32 %c
32 %c
300
19 %c
Mar
32He
Aug
75c
90c
900
55o
Mar
1.00
July
64c
1
Duparquet Mining
32
Jan
64c
2,000
4.25
Granada Gold Mines Ltd.l
107
Jan
112
Aug
4.40
1,800
Howey Gold Mines Ltd-.l
Klrkland Lake Gold
1
2
75c
145
75c
Aug
1.15
Mav
435
234
Jan
434
11
11
15
10
65
90
50
Mar
18
July
62
May
Jan
67 34
4.25
1
Graham M Ltd.l
Macassa Mines Ltd
McVittie
57
57%
135
141 H
59
133
Jan
156% 159)4
57
159)4
.100
5834 June
14134 Aug
195
148
Apr
170
118
184
May
214
49
271
Jan
300
Feb
241
164
Jan
181
Feb
198
198
200
280
280
281
178%
100
Montreal
178
63
180
•
Nova Scotia
100
Royal
•
Jan
5134
1,800
20c
Aug
38c
100
1.91
Aug
3.40
Jan
1.50
1.48
1.74
Jan
1.90
July
65c
64c
74c
1834c
Jan
77c
Aug
3.36
3.40
20,150
84,755
1,200
1.00
2.38
Mar
3.55
July
1.30
May
1
Feb
Cum 6%
1.60
1.50
10%
100
pref
10%
32%
33
Brothers pref..100
Municipal
Montreal
90c
90C
95c
1,375
80c
Mar
1.40
Jan
.1.75
2.00
360
1.75
Aug
4%
13%
14
125
13%
Jan
Feb
Mar
21
21
18 %
23
100
20c June
60c
Jan
4%
1,171
2
Jan
5%
July
33
Mar
34%
Industrial Bands
High
44%
38
cl B.*
4
4
Power Corp.*
3
3
Brit Amer oil Co Ltd—..*
Brit Col Parkers (dpw)
23%
9
»
Canadian Int Inv Tr Ltd.*
Cum preferred
1.50
*
-
Catelli Products pref A. .30
-
-
-
11%
Dominion Eng Works
9
*
Dominion Stores Ltd.—.*
9%
Dom Tar A Chemical Ltd *
7%
Apr
125
1.00
1.50
8
234
13
Jan
1.50
Feb
4.00
Feb
35
65
4
11% June
2% June
15
May
95
6
Aug
25
26%
Jan
July
Feb
36
Feb
12
36
97
10
95
7%
8
2,360
4%
8%
9434
185
50
Jan
14
14%
331
9
Jan
19 %
1234
880
8
Jan
19
95c
420
70c
Jan
1.46
40%
Int Petroleum Co Ltd
*
Ti%
20%
■3%
21
3%
34
35
234
Apr
3,210
33%
Aug
1.00
1.20
800
9%
2%
10 %
115
v
tr.*
2
•
.
.
Rogers-Majestic Ltd A
145
Ltd.*
Walker-Gooderh & Worts *
38
103
Jan
June
4
934
94%
102
5%
Mar
Calgary Power Co 5s.. 1960
Feb
Canada Bread 6s
Aug
Canada Cement Co 5 34s '47
Canadian inter Pap 6s '49
.1941
Aug
Can North Power 6s.
_
1953
99% 100
109
par
3.00
95C
Mar
565
2
3%
Feb
Consol Pap Corp 5 34s. 1961
Dominion Coal 5s
1940
Apr
36%
Aug
Dom Gas A Elec 6 34s. 1945
19
Feb
Dominion Tar 6s
2634
17%
July
1949
58.1937
88
89
70
71
10134 10234
70
71
90%
105
90
105%
81o
Apr
70%
East Kootenay Pow 7s 1942
98
9c
1
Eastern Dairies 6s
8134
1949
Gold
-
i
45c
Big Missouri Mines.
9c
500
5c
July
6c
6%c
7,000
4%C
Apr
10c June
Fraser Co 6s...Jan
38c
49c 100,530
30c
Jan
47c May
Gatlneau Power 5s...1956
53c
800
50o
Aug
Jan
General Steelwares 6s. 1952
104
Gt Lakes Pap Co 1st 6s '50
1
Barry-Hollinger Gold.
9c
50c
Alton Mines
/5734
Aug
Int Pr A Pap of Nfld 5s '68
102%
Jan
Lake St Jobn Pr A Pap Co
40c
40c
24%
29%
48c
1
5
1
2334c
19c
Ltd.l
1.37
1.37
1.87
40c
40c
Bousquet Cad
Bulolo Gold Dredging
Cartler-Malartlc Gold
Cent Manitoba Mines Ltdl
30
88,050
1,085
42c
29
Aug
Aug
750
48c
37
Aug
634s
Feb
1 1942
Jan
634s
Feb
1 1947
2o
Jan
30o
100
1.27
Jan
1.69
500
18340
Jan
58c
July
30c 494,500
1 1950
51
50%
102% 103
Certificates of deposit—
Donnaconna Paper 5 34s '48
Mines—
37
106
Northwestern Pow 68.1960
/
/4834
Jan
Apr
July
1939
105
104%
104
112
50c
value) 3s.
36%
Montreal Tramway 5s 1941
Cedar Rapids M A P 5s '53
1.50
Paper 6s. 1945
Montreal Island Pr 534s '57
Montreal L H A P (350
106 34 107 34
105% 106%
92 34
92
Canadian Vickers Co 6s '47
50
30
77
Can Lt A Pow Co 5s.. 1949
600
240
75
Jan
75c
2%
36%
18%
Minn A Ont
July
1.50
35%
18%
106
10
65c
2
2
35%
Walker-Good & Worts pf.*
92%
105
103
1.50
75c
63 34
91%
MoColl Frontenao Oil 6s '49
44%
Aug
Feb
Ask
107
348.1948
5s
Bid
45%
115%
51
94
Jan
434
98
Utility Bonds
86%
1 1960
Burns A Co 5 34s-3
Jan
2-6363
62 34
106
Brit Col Power 534s..
Mar
Corporation
87
115
Feb
Apr
Aug
9
•
York, Montreal and Toronto
Maple Leaf Milling—
2%a to *38—5348 to *49
Massey-Harris Co 5s.. 1947
1960
2 <60
13%
2
4%
*
Aug
86
May
Jan
Beauharnola Pr Corp 5s *73
Bell Tel Co of Can 5s. 1955
Apr
10
*
Feb
17%
86
101% 10234
2
5%
United Dist of Can Ltd
July
39 H
Apr
MacLaren-Que Pr 534s '61
BeauharnolsLHAP 534s '73
32
79
4%
48
Apr
13%
Manitoba Power 5 34s. 1951
Jan
Jan
9734
102
May
Jan
26 %
Ask
Apr
534
10
Thrift Stores Ltd
6
39%
8
55
4%
22
New York • HAnover
NY 1-208
•
/5034
Apr
35
102
May
SECURITIES
Abltlbl P & Pap ot'fa 5s '53
Alberta Pao Grain 68..1946
Apr
Aug
9%
Sou Can Pac Ltd pref-.100
2434
5
87 %
88%
100% 101
Reliance Grain Co Ltd...*
Mar
6%
630
Municipal
•
Bid
2%
5
9%
5%
Mar
\04%
102 H
96 %
76
Industrial and Public
70
2%
87%
*
490
40
Jan
84% June
2% May
Feb
Feb
*
Power of Can cum pref. 100
17%
Aug
Bell System Tele.
June
500
9
*
Voting preferred
Page-Hereey Tubes
28
Aug
Royal Securities Corporation
2
Ltd *
1,020
4%
40%
16%
8
Jan
18
/ Flat Price.
30 Broad Street
7
*
B
Aug
50
..1
Melchera Dlst Ltd a,
20%
4,745
*
Inter UtIICorp class B
4%
38%
27
16%
Ltd
|
(Can) Ltd A...*
May
10
Private wire connection between New
Feb
90c
20%
30
102
"~4%
*
Government
Feb
*
1434
»
30%
102%
50
10 2%
65
21%
July
93
Imperial Oil Ltd
21%
Jan
July
14
91c
100
Jan
285
14
*
Aug
Feb
93
Voting trust clfs
June
\4%
19
CANADIAN
Feb
3%
Apr
*
Home Oil Co Ltd
45
20
102
102%
100
No par value.
Mar
pf 100
Fraser Cos Ltd
215
30
Mar
July
2
75
12
534
9%
7%
80
18
Feb
Feb
Feb
Jan
27%
15
36
28%
Feb
3%
Jan
May
340
234
5%
1.95 June
3
11%
July
Aug
Aug
16%
56
5
5
Weston
•
44%
1,086
•
*
B
High
Ja
Mar
1,660
1,371
24
3
3
3
47
334
1.50
17%
2,635
4
2334
8%
Low
Shares
56
_100
Ltd...*
Canadian Wineries Ltd
for
Jan. 1 1936
16 H
Week
of Prices
43
Asbestos Corp voting tr..*
Range Sine
55
18
21%
McColl-Frontenao OiloflOO
Preferred
9%
Aug
18%
49
*
RoyallteOtI Ltd
Apr
9
278
20%
18
36
4%
30
9
9
Ltd pref30
Price Bros Co Ltd
204
19%
Nova Scotia Lt&P pref. 100
from official sales lists
25
6%
19%
General Steel Wares pf 100
Int Paints (Can)
34%
6%
6%
Paper A
•
Eastern Dairies pref...100
Ford Motor of Can A
*
Sales
Low
Feb
30c
4
Donnaconna
Montreal Curb Market
Sale
Jan
20
25
30c
Massey-Harris Ltd preflOO
Price
July
1.75
Dom Oilcloth A Lincoleum*
330 Bay St, Tirnti
Par
July.
13%
Ltd!.*
Loblaw Groceterias A
Stocks-
Feb
13%
107
Claude Neon Gen Ad Ltd *
Public Utility and
1813
Week's Range
Jan
93
Consolidated Paper
Canadian Govarnmant
INCORPORATED
Last
2 50
6% June
100
400
•
Canadian Light & Pow.100
HANSON BROS
Friday
500
1.70
11
33
•
Preferred..
Aug. 15 to Aug. 21, both inclusive, compiled
,
Unlisted Stocks—
Abltlbl Pow & Paper Co..*
Brewing Corp of Can
St, Ottawa
Feb
21c
2.02
Brew A Distillers of Van.
255 St. James St.,
July
21c
Feb
Beatty
ESTABLISHED
5.00
Jan
2.02
Stadaconna-Rouyn Mines *
Sylvanlte Gold
3.18
Jan
93c May
43 %c May
Mar
65
Apr
4.15
'7%'c
Jan
110
7.65
Unlisted Mines—
Arno Mines..
May
2%
100
Canadienne
C stle-Trethewey M
Jan
18c June
1.12
7.40
18
75c
50
Canada.
Beaufort
3.75
100
i
Sherrltt-Gordon Mines...!
Walkervllle Brewery
1,600
18,250
43,375
2,000
150
San Antonio Gd M Ltd
Montreal Ref & Stor
July
12,650
20
234
100
Mitchell & Co (Robt)
7.00
81c
10
Banks—
Int Paints
Jan
73c
21
110
.100
cm
Aug
35c
81c
25
*
pref
DomTar & Chem
1.27
7.95
55
*
Winnipeg Electric
Vickers
Aug
3.08
55
_
Western Grocers Ltd pf.100
Canadian
95c
7.70
25
.
.
*
Windsor Hotel
Beauharnolf
Jan
8,000
34,570
3.08
Cndn Malartlo Gold
1.00
1.00
100
Preferred...
Bathurst Pr A Paper
Mar
Mar
..*
Commerce
40
1
1
1
Towagmac Explor
Ventures Ltd
2334
May
7.25
60c May
Jan
62
Aug
Aug
1
Mar
July
16
23c
1.74
6.95
Teck-Hughes Gold.
18%
4.80
20c
1.35
20c
1.55
—1
Pickle-Crow Gold..
1
Pioneer Gold Mines of B Cl
Premier Gold
-.1
Quebee Gold Mining Corpl
Read-Authler Mine
1
Sullivan Consol
120
Wabasso Cotton
56 Sparks
5.45
6.55
4.70
Perron Gold
July
2034
1.10
95c
5.45
Pamour-Porcup M Ltd—-*
Parkhlll Gold
1
July
"25
Preferred..
11,900
19c
4134
120
Viau Biscuit
Woods Mfg
290
44c
Jan
122
_
Steel Co of Canada.__
Preferred
58%
19c
July
.100
Southern Can Power.
92c
34c
1
1
334
1434
100
Preferred
Simpsons pref
Jan
33c
Gold M*
Sladen-Mal
May
8
215
93c
58
1
Lamaque Contact
Shawkey
Sisooe Gold
10134
1,420
•
48c June
Jan
May
3,425
17%
Apr
57%
Lake Shore Mines
Aug
Aug
1.50
2,025
1,371
July
22 %o
28% o
Jan
rH 0 0
63
100% 101
2
234
12%
U%
32
35%
Feb
634
May
1234
126
-.25
.100
97
75
100
_
Preferred..
Rolland Paper pref
Apr
465
2,658
15%
20%
15
19%
of Canada
10c
500
Aug
21
724,450
37c
90,960
Montague Gold
1
O'Brien Gold Mines Ltd-.l
June
15
2.05
37c
75c
Mclntyre-Porcup N Ltd .5
Jan
80c
37c
Aug
Mar
Aug
9.00
1.76
67c
6534
110
2.05
9.00
67c
Lee Gold Mines..
10134
July
Gold—..—1
July
240
June
9.55
14,500
61
Jan
61
Jan
71c
July
Feb
88
101H
Jan
6.90
62c
3034
Feb
199%
112
10634
*
.
Power Corp
A
100
106
18
100
Traction
52
214
98
98
106%
100
Preferred
213
213
__
Ottawa L H & Power.
3,181
Mar
43
64c
Lebel Oro Mines
July
2.30
Apr
755
515
9.10
1
Jan
56
64%.
Feb
1.10
56
64%
56
High
*
23c
Jan
Nlavara Wire new
*
17 34
May
29
Noranda Mines
Consol Chlb Gold
Low
2,130
1.78
1.64
1.70
June
Mar
7%
12%
1,865
14H
Aug
35
Montreal Tramways.
Par
37
4
900
Aug
Zioo
Montreal Telegraph
(Concluded)
9,158
4%
2%
1 1936
Range Since Jan.
for
Week
Shares
Low
Price
Fields..1
Dome Mines
-*
FalconbrldgeNlckelMInes *
Francoeur Gold..
-*
Goldale Mines..
1
Aug
McColl-Frontenac Oil. ...*
Montreal Cottons
Stocks
2%
5
4
♦
Massey-Harris
Shares
2%
*2%
*
MacKinnon Steel Corp
Low
of Prices
High
Sale
Week
1
Week's Range
Last
Range Since Jan. 1 1936
for
Week's Range
Sale
Sales
Friday
Sales
Last
Market
Curb
Montreal
Montreal Stock Exchange
Friday
1936
22.
Aug.
Chronicle
Financial
1210
99
9934
f80
11134
New Brunswick Pr
58.1958
112% Ottawa Lt Ht A Pr 58.1957
Ottawa Traction 5 Ha. 1955
49
Ottawa Valley Pow 5 34s '70
Power Corp of Can 4 % a '59
9034
5s
Dec
1 1957
106%
Provincial Pap Ltd 5%a *47
71
100
Quebec Power 5s
1968
8234 Saguenay Power 4 its.1966
Shawlnlgan W A P 4 %a '67
99% Simpsons Ltd 6s
1949
Smith H Pa Mills 5%a '53
105
58% Southern Can Pow 5s. 1955
Steel of Canada Ltd 6s '40
103
United Grain Grow 5s. 1948
United Securs Ltd 5 34s '52
81
11234 Winnipeg Elec 6s.Oct 2 '54
91
Nova Scotia LAP
106
108 34
-
-
-
-
-
-
10134 101%
83 34
8434
99
102
99 34
<»
-
-
102% 103%
105 34 106 34
102 34
104% 104%
105% 106%
102
10534 106 34
105% 106%
113
-
-
-
96
86
8734
88%
Volume
Financial
143
Chronicle
1211
J,
Quotation*
Over-the-Connter
on
Securities—Friday Aug. 21
New York City Bonds
Bid
03K8 July
1 1975%.
03 %b May 1 1954.
o3MsNov 1
a3Ks Mar 1
o3Mb Jan 15
a3 Ms July 1
o4a
May 1
1957.
a4a
Nov
113
112M
112M 113
112M 113
112% 113M
May 1 1959.
May 1 1977.
o4a
1 1958.
Oct
1 1980.
Mar
April 1
Apr 15
June 1
Feb 15
...
117M 118M
11957
118M 119M
119M
119M 119M
119
Bankers
120 M 121
121M
122 %
102 M
Bank of
Slcilly
County
Brooklyn
Bid
less
1
b 2.60
less
1
4Mb April 1940 to 1949.. b 2.10
Highway Improvement—
4s Mar & Sept 1958 to '67
127 M
Canal Imp 4s J&J '60 to '67
127M
2.85
Canal Imp 4Mb Jan 1964..
134%
...
Can A Imp High 4Ms '65..
131%
•
.......
mm
Barge C T 4a Jan 42 to '46
*
Ask
Gen A ref 3d
104
Bid
Bayonne Bridge 4s series C
1939-53
J&J 3
Inland Terminal 4Ms ser D
1937-1941
M&S
104M
1942-1960
George Washington Bridge
4s
B
ser
1937-50..J&D
ser B
M&S
Holland Tunnel 4Mb ser E
1937-1941
M&S
100M
1939-53.MAN
350
12
9M
8M
126
127 M 130 M
25
66
85
New
1750
54
Manufacturers
64
75
17
16
1700
57
49
20
47
51
53
25
,
141
144
Preferred
York
16M
Title Guarantee & Tr. ..20
10M
Continental Bank & Tr.10
19
20 M
Underwriters
80
Corn Exch Bk & Tr
64 %
65 M
United States
14 M
20
11M
90
2100
100 2055
Par
Trust
Bid
Ask
230
210
Continental Illinois Bank &
Trust
33 1-3
Bid
Par
Ask
100
289
294
Harris Trust & Savings. 100
Northern Trust Co
100
425
445
845
885
First
100
National
146 M 150M
U6M
107% 107%
105% 106 %
4Mb
345
115M
Barge C T 4Mb Jan 1 1945.
Gen A ref 4s Mar 1 1975.
Gen A ref 2d ser 3Ms '65
3 Ms '76
Guaranty
Irving.
Kings County
Lawyers
American National Bank &
mm
Port ol New York—
ser
70
10
50
Port of New York Authority Bonds
Bid
263
121
Central Hanover
...20
Chemical Bank & Trust. 10
Ask
World War Bonus—
3s 1981
134 %
25 M
249
Chicago Bank Stocks
Ask
b 2.50
Highway Imp 4Mb Sept '63
ASk
24 M
Fulton
68
100
102 M
3s 1974
Canal A Highway—
6s Jan A Mar 1946 to *71 b
Bid
Empire
....7
Clinton Trust.
Par
Ask
115
522
20
Bronx
New York State Bonds
Bid
Bid
105
516
io
Colonial Trust
119M 120
o4 Ms Deo
1 1979
a6s
Jan 25 1937..
115M 116M
Par
Banca Comm Itallana.100
Bk of New York & Tr_.100
118M 118M
1 1981
o4Ms June 1 1965
a4 Ms July 1 1967
04 Ms Dec 15 1971
115% 116M
115% 116%
116M 117
116M 117M
117M 117M
117 % 117M
a4 Ms May 1 A Nov
a4 Ms Mar 1 1963
113% 113M
115M 116M
o4«a Sept 1 1960.
a4Jis Mar 1 1962.
04«s Mar 1 1964.
1966
1972
1974
1976
Jan
1 1977
Nov 15 1978
a4
107 M 108
107M 107 %
108
108%
o4e
a4a
o4Mb
a4Ma
o4J*8
o4Mb
a4Ms
04*8
107% 108M
I960.
1975.
Ask
Bid
1954.
1976i.
New York Trust Companies
Ask
104 M 105 %
107% 108 M
112M 113M
1942-1960
M&S
Hartford Insurance Stocks
Ask
BOUGHT
106
SOLD
111
Members New
6
50.75 to 1.75
113
—
QUOTED
PUTNAM & CO.
50.50 to 2.40
110
—
107
114
Tel.
.
York Stock Exchange
CENTRAL ROW
5-0151
HARTFORD
A. T. T. Teletype
Hartford 35
—
United States Insular Bonds
Philippine Government—
Bid
4s 1946
100
Ask
Bid
Ask
101M
Honolulu 5s
3.50
4Ms Oct
1959
106
107
U S Panama 3s June 11961
4Ms July
1952
106
106 %
Insurance Companies
118M 119
Govt of Puerto Rico—
.
6s
Aprl 1955
101M 103 M
Feb
109
Par
4Mb July 1958
6s
5s July 1948
1952
6 MS Aug 1941
Hawaii 4 Ms Oct 1956
110
113M 115
,
3.75
3.50
Aetna Fire
113
113M
Bid
Bid
101
101 M
J&J
101
101%
3b 1966 opt 1946
M&N
3s
1946 opt 1944
4s 1957 opt 1937
M&N
4Ms 1957 opt 1937...J&J
101
101M 4MB 1957 opt 1937
M&N
102% 102%l 4MB 1958 opt 1938—M&N
3Mb 1955 opt 1945.-M&N
4s
4a 1958 opt 1938
J&J
109%
XVi,
M&Nl
104
Ask
105
105M
101",6 101M
102M 102's16
106^ 107M
30%
32%
86%
99
Importers & Exporters—5
10
24
25 M
Ins Co of North Amer. .10
73 M
8%
74%
32 M
11
35M
Knickerbocker
5
14
16
American Equitable
American Home
5
10
5
5
Maryland Casualty
1
3M
76
79
American Reserve
10
27 M
29
Mass Bonding & Ins.. 12M
Merch Fire Assur com.2 %
25
American Surety
Bank
Bonds
99
10C
Lincoln 5s
100
102
Louisville 58
98
100
Denver 5s
77
First of Fort
5s
91
Wayne
5s..
100
102
First of Montgomery 5s...
85
100
5s_
90
97 M
Flrst Trust of Chicago 6s..
Fletcher 6s
Fremont 5s
97 M
98M
100
6.32
6.42
5
21M
27 M
23 M
29 M
New Amsterdam Cas
New Brunswick Fire
10
25 %
27 M
43
45
43%
New Hampshire Fire
New Jersey
10
41%
27%
20
45
48
20%
New York Fire
2
20
23
10
5
2M
9
-.10
46
49
116
120
...
6
100
~
6s
108
/34
38
100
102
70
f22
100
101
99
Tennessee
100
Joint Stock
Bid
5s
5s.—.
5s
Union of Detroit 5s
100
94
Antonio 5s
Virginian
Land
5s
Bank
Par
25
Lincoln
Atlantic
33
37
North
Dallas
65
68
Denver
1
25
100
12
20
19M
21
Providence-Washington .10
Republic (Dallas)
10
39
41
25 M
26
27
29
11M
12%
56
Virginia
Virginia-Carolina
Federal Intermediate Credit
.....
5
100
Bank
—
FIC 1 Ms—Mar
FIC 1Mb...Apr
F I C 1 Ms...July
Rossia
10
5
Georgia Home
Glens Falls Fire..
10
24
26
St Paul Fire & Marine..25
5
38
40 %
Seaboard Fire & Marine..5
10M
.5
15
15
16M
18%
Seaboard Surety
10
28
51
Security New Haven
10
36
37
75
79
Southern Fire
.10
26
28
26 M
27%
Springfield Fire & Mar..25
137
%
30
49
140
6
.
.1
11
8
Stuyvesant
5
211
206
5%
13
M
6M
10
21M
23
Sun Life Assurance
100
470
500
10
20
27%
Travelers
100
553
563
Fire
10
34%
36%
19
10
25%
27 M
U S Fidelity & Guar Co..2
U S Fire
4
18
Harmonia
56 M
58
10
70%
73%
U S Guarantee
10
56 M
59
75%
78%
Westchester
2.50
34 %
36M
Hanover Fire
Fire
20c
40c
60
15 1937
0.45%
.50%
0.55%
15 1937 0.60%
15 1937 0.65%
Ask
a
a
Arundel Bond Corp 2-5s '53
78%
Arundel Deb Corp 2-6s '53
52
M
•
t
a
a
a
m%
Ask
—-
/36
---
(Mtge Guarantee series).
Bondholders part ctfs
f3l
—
1953
(Mtge Security series)..
Nat Cons Bd Corp 2-5s '53
f31
Nat Deben Corp 2-68.1953
40
ture Corp 2-6s
Potomao Realty
40
40
coeo
40
43
1953
Atlantic
67
Debenture Corp 2-6s *53
40
43
40
43
Realty
Nat
34
Bond &
...
Mortgage
deb 2-6s
...1953
Union Mtge Co 5 Ms& 6s'37
Universal Mtg Co 6s *34-'39
f55
/55
74
43"
a
a
Telephone and Telegraph Stocks
Par
100
Canada.. 100
100
Bell Telep of Pa pref
Bid
Bid
(N J) com.*
123
Ask
mm m
127 M
149
147
mmm
125
80%
127
91M
Cuban Telep 7% pref—100
47
80
20
24 %
Emp & Bay State Tel.. 100
Franklin Telegraph
100
62
50
44
48
National Safety Bank. 12M
Penn Exchange
10
15
17
Gen Tel Allied
98
00%
National..50
50
48
10%
Ask
...
U%
Corp $6 pf.
Int Ocean Telegraph...100
Lincoln Tel & Telegraph..*
102
142 M
Peoples National
50
59
Commercial National.. 100
190
196
Public National
26
47 M
49 M
Mtn States Tel A Tel.. 100
Fifth
990
1020
Sterling Nat Bank
& Tr.25
35
New England Tel & Tel 100
National of N Y..100 2095
2135
36M
Trade Bank
12 M
24
30
...
For
Footnotes
see
page
N'west Bell Tel pf 6 M % 100
Pac & Atl Telegraph
25
Peninsular Telephone com*
Preferred A
100
Roch Telep $6.50 1st pf.100
106
145M
128M 130M
1214
Par
New York Mutual Tel. 100
So & Atl
117
«...
...
2-6s
mm*
Potomao Maryland Deben¬
79
100
Merchants Bank
National Bronx Bank
60
—
(Central Funding series)
Nat Bondholders part ctfs
Bell Telep of
Par
32%
60
100
Potomac Cons Deb Corp—
2-6s
1953
Potomac Deb Corp 2-6s '63
Potomao Franklin Deb Co
Nat Bondholders part ctfs
a
30%
27
47
76%
75%
i
a
54
Flat bush National.. ...100
.
77%
i
Bank Stocks
42%
45
41%
(all
1953
Ask
t
15 1937
Bank of Manhattan Co.10
46
.1954
Corp
*
50
i
151937 0
Bank of Yorktown. .66 2-3
40%
Bond
Issues) 2-5s
Cont'l Inv Bd Corp 2-5s '53
Cincln & Sub Bell Telep.50
Bid
Series B 2-5s
Potomac
Cont'l InvDebCorp 2-6s '53
Mtge Co 5 Ms &
1934-43
Bid
Nat Union Mtge Corp—
Series A 2-6s.
1954
78%
Preferred
New York
Ask
Allied Mtge Cos Ino—
All series 2-5s
1953
Am Dist Teleg
5
Rochester American
22%
Mortgage Bond Co of Md
Inc 2-59
....1953
45
Bid
FIC 1Mb...Jan
FIC 1Mb...Feb
18
Debentures
Ask
15 1936 0.40%
—
101
99
Accident
32%
Home
24
53
6
National
89
Preferred
11%
13 M
30M
6S
100
3
F 1C 1Mb—Nov
4
21
100
1
FIC 1Mb—.Deo
2
100
San Antonio
2
15 1936 b .30%
15 1936 b .30%
16 1936 b .35%
Ask
Potomac
70
Bid
Bid
Pennsylvania. -
2
65
Fremont
Kings boro
85
77%
21
Associated Mtge Cos Ino—
Debenture 2~6s
1953
100
Carolina
First Carollnas..
First
10
28 M
125 % 130
75 %
Bid
Stocks
Ask
15
—100
Phoenix
99 %
112
Surety Guaranteed Mortgage Bonds and Debentures
99
07%
00% 101
07
08%
Virginia-Carolina 5s
96
Atlanta
Avenue
25
1
25
97
.13.55
Pacific Fire
95 %
26%
111
13M
36%
72
Southern Minnesota
-12M
2.50
National.25
5
Alliance
34 M
12.50
River
Northwestern
10M
137
12M
'
Northern
North
0%
132
2
101
St Louis 5s
79
City (National)
2
109M
100
5s...
77
Chase
20
101
Phoenix
Southwest
Bensonhurst
National Liberty
National Union Fire
Hartford Steam Boiler.. 10
...
100
Potomac 5s
101
Par
5%
46
7
10
Hartford Fire
100
Pennsylvania
100
FIC IMS—.Sept
F I C 1 Ms
Oct
4M
44
5
10
Halifax Fire
102
Greensboro
Moines
•
National Casualty
National Fire
Hamilton
60
101
San
Des
05% 100
25
Fire
Great Amer Indemnity
99
00% 100M
100
85
Par
12%
10%
60%
8%
Great American...
100
102
Illinois of Montlcello 5s
10%
17%
66%
35%
7%
2d preferred
99
100
100
80
Iowa of Sioux City 5s
Kentucky of Lexington...
La Fayette 5s
/57
Pao Coast of Salt Lake 5s.
Pac Coast of San Fran 5s..
100
Illinois Midwest 5s
101
07%
Greenbrier 5s
5s.
100
99
Pacific Coast of Portland 5s
Pacific Coast of Los Ang 5s
93
First Texas of Houston 5s.
102
New York 5s
Ohio-Pennsylvania 5s
87
First of New Orleans 5s...
Merch & Mfrs Fire New'k 5
57 %
33%
Globe & Republic
Globe & Rutgers Fire
97
102
North Carolina 5s
79
89
95
Oregon-Washington 5s
First Carollnas
Ask
100
Maryland-Virginia 5s
Mississippi-Tennessee
8%
59
General
58
102
55
Franklin Fire
Bid
5s
102
3M
56
55 %
Fireman's Fd of San Fran25
Land
/7M
6
53
10
Fidelity & Dep of Md__.20
Fire Assn of Philadelphia 10
Teletype CGO. 437
Atlantic
100
5%
27
2M
Automobile
Federal
Ask
100
6
Lincoln Fire...
Continental Casualty
State 0540
Atlanta
6s
25%
14
Firemen'8 of Newark...
California
10
15M
City of New York
10
Connecticut Gen Life... 10
MUNICIPAL BOND DEALERS
Dallas 5s
4%
14
.
Employers Re-Insurance 10
Chicago 6s
10
.2 M
American Re-Insurance .10
American of Newark
Excess
Burlington 5s
37
10
Eagle Fire
Bid
Ask
35
25
Carolina
Bought— Sold—Quoted
Joint Stock
Bid
5
Aetna Life
Camden
MUNICIPAL BONDS
St., Chicago
Par
Home Fire Security
Homestead Fire...
Bankers & Shippers
Boston
I
JOINT STOCK LAND BANK BONDS & STOCKS
120 So. La Salle
.
Home
51%
Baltimore Amer
109%]
104%
103
49 %
Agricultural
113M 114
Ask
J&J
Ask
99
10
American Alliance
Conversion 3s 1947
1955 opt 1945
1956 opt 1946
Bid
Casualty & Surety 10
111 M
Federal Land Bank Bonds
3s
Aetna
109
U S conversion 3s 1946
117
115
3.00
Telegraph
25
Sou New Engl Telep... 100
S'western Bell Tel pref. 100
Trl States Tel & TelPreferred
.10
Wisconsin Telep 7% pf.100
Bid
Ask
25
117M 119%
19
21
20M 22%
109M 111%
112
21K
155
115
24
157
124% 126M
10%
115%
11M
...
Financial
1212
1936
Aug. 22,
Chronicle
Securities—Friday Aug. 21—Continued
Quotations on Over-the-Counter
DEFAULTED
Railroad Securities
Guaranteed Railroad Stocks
Offerings Wanted
DUNNE&CO.
tJostpb Walkers Sons
Excbangi
York Slixk
Mtmbert J^rw
Members New York
"=*s
Dealers in
120 Broadway
Tel. REctor
GUARANTEED
NEW YORK
20 Pine
JOhn 4-1360
2-6600
STOCKS
Since1855^
BONDS
RAILROAD
Bought
Guaranteed Railroad Stocks
—
Sold
Earnings and Special
In Parenthesis)
(Guarantor
Security Dealers Ass'n.
-Street, New York
Bid
Asked
Studies
G.00
Cleveland A Pittsburgh
Betterman
Delaware
stock
(Pennsylvania)
pref (N Y Central)
Fort Wayne A Jaokson
Georgia RR A Banking (L A N-A C
Lackawanna RR of N J (Del Lack
York Central)
106
139
57
4.00
97
Railroad
6.00
142
Bell System Teletype NY 1-624
Bonds
103
1003*
Akron Canton
99
3.50
88
90
2.00
48
50
6s,
1945
48
86
89
Boston A Maine
190
195
46
2.00
763*
743*
50.00
3.875
64
66
5.00
95
96 3*
4.00
101
102
20
23
4.50
67
70
1.60
42
76
80
7.00
165
170
7.00
60
Chicago (Pennsylvania)—100
40
3.00
184
103
6.90
100
6.00
a;148
3.00
77
743*
3.00
xl48
10.00
254
258
90
6.00
100
6.00
80
"83
6.00
83
86
3.50
51
55
3.00
,
87
6.00
673*
70
EQUIPMENT TRUST CERTIFICATES
Quotations—Appraisals Upon Request
79
*
64
3s, 1950——
81
1942—.
lien 43*8, 1944
•»
1013*
1053*
1003*
1043*
—
■
m
83
-
m
.
92
.84
1940-45
Buffalo Creek 1st re! 5s, 1961
—
Chateaugay Ore A Iron, let ref 4s, 1942—...—.......
Choctaw A Memphis, 1st 5s, 1952
........
Cincinnati Indianapolis A Western 1st 6s. 1965........
Cleveland Terminal A Valley 1st 4s, 1995
—
Georgia Southern A Florida 1st 5s, 1945——
Goshen A Deckertown 1st 53*8,1978
—...
Hoboken Ferry 1st 6s, 1946
...
Kanawha A West Virginia 1st 58, 1955
Kansas Oklahoma A Gulf 1st 5s, 1978—
......
Little Rock A Hot Springs Western 1st 4a. 1939
—
Macon Terminal 1st 5s, 1965—
Maryland A Pennsylvania 1st 4s, 1951
Meridian Terminal 1st 4s, 1955.
...
Minneapolis St Paul A Sault Ste Marie 2d 4s, 1949.....
Montgomery A Erie 1st 5s, 1956
New York A Hoboken Ferry general 5s, 1948
Portland RR 1st 33*8, 1951
.......
Consolidated 5s, 1945
Rock Island-Frisco Terminal 43*8, 1967
St Clair Madison A St Louis 1st 4a, 1951
Shreveport Bridge A Terminal 1st 6s, 1955—
—
Somerset Ry 1st ref 4s, 1955
Southern Illinois A Missouri Bridge 1st 4s, 1951
—
Southern Pacific secured 33*s, 1946
Toledo Terminal RR 43*s. 1957
—
Toronto Hamilton A Buffalo 43*8, 1960
Union Pacific debenture 3 3* a, 1971
—'—
Washington County Ry 1st 33*s, 1954..
Convertible 6s,
1100
950
Prior
753*
•
96
4a. 1953—.....—.........
4a, 1957—................
April 1 1943...
—
Prior lien 4s,
'
4.00
53*8, 1945.....—.......
—
Augusta Union Station 1st
Birmingham Terminal 1st
Boston A Albany 1st 43*8,
5.50
Preferred
A Youngs town
74
•
95
10.00
Asked
Bid
6.00
100
Rensselaer A Saratoga (Delaware A Hudson)..
100
St Louis Bridge 1st pref (Terminal RR)
...—100
Second preferred
100
Tunnel RR St Louis (Terminal RR)
100
United New Jersey RR A Canal (Pennsylvania)
100
Utlca Chenango A Susquehanna (D L A W)—
100
Valley (Delaware Lackawanna A Western)
100
Vlcksburg Shreveport A Pacific (Illinois Central)—100
Preferred
100
Warren RR of N J (Del Lack A Western)
.50
West Jersey A Sea Shore (Pennsylvania)—..
50
•
99
60
50
Preferred
Pittsburgh Fort Wayne A
HAnover 2-2455
•
"60
60
—100
(Pennsylvania)
Old Colony (N Y N H A Hartford)
Oswego A Syracuse (Del Lack A Western)
Pittsburgh Bessemer A Lake Erie (U S Steel)
Northern Central
York
145
3.00
—-—60
L A W)_„—100
New York Lackawanna
41 Broad St., New
393*
38^
8.50
100
Lack A Western)
A Western (D
Michigan Central (New
Morris A Essex (Del
103
8.75
100
A Western)
180
2.00
—100
L)
98
175
6.00
50
50
—25
100
(Pennsylvania)
95
10.50
(Illinois Central)
100
Albany A Susquehanna (Delaware A Hudson)
100
Allegheny & Western (Bulf Roch A Pitts)
100
Beech Creek (New York Central)
50
Boston A Albany (New York Central)-————100
Boston A Providence (New Haven)
—.100
Canada Southern (New York Central)
—100
Carolina Cllnchfleld A Ohio (L A N-A C L) 4%
100
Common 6% stamped
-100
Chicago Cleve Clno A St Louis pref (N Y Central)—100
Request
Dealers Association
Members T^ew Tor\Security
Alabama A Vlcksburg
on
E. SLOANE & CO.
JOHN
Dividend
Par in Dollars
Quoted
—
1023*
i
mm
84
81
/ 67
69
100
101
97
983*
66
67
102
90
88
1013*
1023*
103
104
40
/34
1U43*
'
78
76
93 h
»
•
56
95
77
80
743*
753*
91
92
903*
'
...
93
m
m
"
87
m
63
66
90
92
973*
973*
.
111
903*
■
993*
.
993*
69
67
Stroud & Company Inc.
Private
Philadelphia, Pa.
New York
Wiree
GARLOCK PACKING COMPANY
Quotations and Analysis
Railroad
Equipment Bonds
Bid
43*8—
Baltimore A Ohio 43* s
Atlantlo Coast Line
Bid
Ask
1.00
61.75
62.80
2.00
5s
62.80
2.00
43*s
53*8
5s
43*8—
62.86
2.00
62.85
2.00
63.00
2.00
2.50
New Orl Tex A Mex
2.50
New York Central
63.30
2.25
58
N Y Chic A St L
5s
64.90
...
43*8.
3.50
64.90
3.50
66.76
6.00
Par
Bid
Alabama Power $7 pref..*
79
6.00
66.75
5s
Chicago RIA Pao 43*8—.
70
74
43*s
3.75
933*
58
43*a
Pennsylvania RR 43*s
Northern Pacific
95
1.00
62.00
1.00
62.00
1.00
2.00
1936-49
62.85
non-call Deo 1 1936-50
62.75
2.00
62.80
2.00
Jan A July
2f*s series G
43*s
Reading Co 43*s
Pere Marquette
62.75
2%
62.75
5s.
85
90
43*8
74
70
5s
85
90
5a
85
90
St Lo uls-San Fran 4s
65 00
3.75
6s
65.00
3.76
63*8.—
63*8
65 00
3 75
53*8
62.75
*.00
Southern
6s
62.00
1.UU
Denver A R G West
43*s_.
Erie RR
62.80
1.00
61.75
43*s
5s
2.00
61.75
5s
Great Northern
2.00
62.80
43*8
1.00
Hocking Valley 6s
61.75
1.00
Illinois Central
62.85
62.25
1.50
6s
62.00
6s
Louisv A Nashv
43* s
2.00
1.75
61.75
Long Island 43*s
1.00
3.50
62.50
43*a_.
64.50
63.00
53*8
Internat Great Nor
1.00
61.75
4MB
2.50
65.00
4.00
65.00
Minn St P A S S M 4s_—.
2.50
63.50
6^8
1.00
63.50
6s
Maine Central 5s
4.00
pref..*
*
$7 preferred
»
Atlantlo City El $6 pref..*
BangorHydro-El 7 % pf 100
Birmingham Elec $7 pref.*
Buff Nlag A E pr pref
25
Carolina Pr A Lt $7 pref..*
6% preferred
*
Cent Ark Pub Ser pref. 100
Cent Maine Pow 6% pf 100
$7 preferred..
100
Cent Pr A Lt 7% pref.. 100
preferred
$6.50
5
63*
43*8
773*
253*
92
933*
61.60
43*8.
5s
0.75
61.60
Union Paclflo
0.75
61.75
5s
1.00
99
43*8
101
100
1003*
53*8
6s
102
1023*
100
5s
Western Maryland
1.00
61.75
Virginian Ry 43*8
102
62.50
43*s
2.00
62.50
4.00
65.00
Western Paclflo 5s
2.00
65.00
5s
4.00
1103*
523*
106
105
100
100
1063* 1073*
1063* 1073*
Continental Gas A El—
100
98
100
Dallas Pr A Lt 7% pref. 100
112
115
Derby Gas A Elec $7 pref.*
67
69
Federal Wat Serv $6
453*
463*
453*
463*
463*
473*
7%
preferred
Federal
cum
Wat
Serv
cum
pf
Essex-Hudson
cum
Gas
pf
100
Foreign Lt A Pow units..*
95
Gas A Elec of Bergen.. 100
122
Hamilton Gas Co v t c
Hudson County Gas... 100
Idaho Power $6 pref
*
..100
Illinois Pr A Lt 1st pref..*
preferred
Empire Title A Guar...100
For footnotes see page
1214.
11
Par
Ask
...
Lawyers Mortgage
Bid
20
3*,
7% pf—100
%
52
100
111
113
1103* 1113*
100
102
1053* 107
109
1113*
923*
913*
110
1103*
107
90
92
773*
88
...
923*
106
1073*
109
111
Utah Pow A Lt $7 pref...*
77
preferred
Toledo Edison 7% pf A
102
79
91
1063*
85
903*
100
pf
United G A E (N J) pf.100
53
1113* 114
97 3*
993*
•
-
96
Texas Pow A Lt 7% pf.100
1093* 1103*
110
1113*
Long Island Ltg 6% pf.100
7% freferred
100
LosAng G A E 6% pf._100
Memphis Pr A Lt$7pref.»
93
1053* 1063*
24
X
543*
Kings Co Ltg 7% pref. 100
109
27
X
23
Ask
-
100
Rochester G A E 7% B 100
6% preferred C
100
Sioux City G A E $7 pf.100
Sou Calif Edison pref B.25
South Jersey Gas A El. 100
Tenn Eleo Pow 6% pref 100
7% preferred
100
195
253*
Kan Gas A El
-
-
1123* 114
Philadelphia Co $5 pref..*
Pub Serv of Colo 7% pf 100
6%
Jamaica Water Sup pref.50
Jer Cent P A L 7% pf„ 100
Realty, Surety and Mortgage Companies
603*
1043* 106
593*
Queens Borough G A E—
195
7%
49
105
Penn Pow A Lt $7 pref—♦
$6.50
pref
Federal Wat Serv $7
48
*
pf _♦
pf--*
N Y Pow A Lt $6 cum pf.*
7% cum pref erred... 100
N Y A Queens E L P pf 100
Nor States Pr $7 pref. .100
Ohio Edison $6 pref
*
$7 preferred
*
Ohio Power 6% pref
100
Ohio Pub Serv 6% pf—100
7% preferred
100
Okla G A E 7% pref
100
Paclflo Pow A Lt 7% pf 100
Consumers Pow $5 pref.
1.50
.78
$7 prior lien pref
2.25
2.00
72
.
New Orl Pub Serv $7
1063* 1073*
62.50
373*
pf__100
113
New Jersey Pr A Lt $6
109
62.65
43*8
37
79
1st $6 preferred A... 100
1.25
111
122
pf-#
Nebraska
New Eng G A E 53*%
84
$6.50 preferred B__._100
2.00
7
78
Consol Traction (N J). 100
2.25
19
36 3*
81
1.75
62.65
84
35
Nassau A
New Eng Pub Serv Co—
1.75
62.00
17
773*
1153*
46
80
3.50
62.00
114
88
5
77
3.50
53*8
80
Ask
43
preferred
N E Pow Assn 6%
973*
Interstate Power $7 pref.*
i
253*
64.50
5s
Texas Pacific 4s
74 3*
Newark Consol Gas...100
79""
101
99
863*
100
Suff Ltg pf—100
Pow 7% pf—100
7%
122
Columbus Ry Pr A Lt—
6% preferred
6.60% preferred
pref. 100
Pub Serv $7 pref...100
Bid
Mountain States Pr com.*
115
113
Interstate Natural Gas..*
Bid
Mo
62.90
53*8
Pari
123*
11X
Miss Rlv Pow 6%
62.65
Southern Ry
Mississippi PAL$6pf_—«
Mississippi Power $6 pref..
$7 preferred...
12
11
62.65
-
Paclflo 43*8
5s.
Wabash Ry
Assoc Gas A El orlg
Ask
64.50
St Louis Southwestern 5s.
2%
43* s
Par
81
Arkansas Pr A Lt $7 pref.*
4s series E due
1.00
2.00
3.75.
61.75
6a—.
2.00
62.00
Chlo Mllw A St Paul
0.50
62.60
Chicago A Nor West 43*s.
1.00
61.00
6s
1.25
63.00
64.50
—
N Y N H A Hart!
1-905
Public Utility Stocks
64.50
2.00
61.50
43*s
Cent RR New Jer 43*s—.
Chesapeake A Ohio 53*s_.
63*8—
43*8
2.00
61.75
Canadian Paclflo
2.00
62.75
43*s..
5s
43*s
5s
63.00
63.00
Canadian National
N.Y.
2.50
43* s—
Teletype
HA™v?2nie282 52 William Street, N.Y.
3.75
63.50
63.50
2.50
64.25
33*8 Deo 1 1936-1944..
43*8
INC.
3.00
63.75
,
.
6s
Boston A Maine
ROBINSON, MILLER & CO.
Ask
64.25
63.75
Missouri Paclflo
87"
United G A E(Conn)7%
Utlca Gas A El 7%
Virginia
Ry
106
108
104
1043*
95 3*
96 3*
283*
293*
195
-
-
-
673*
683*
763*
773*
953*
93 3*
72
'
78
pf—100
102
1033*
100
136
140
Volume
Financial
143
1213
Chronicle
Quotations on Over-the-Counter Securities—Friday Aug. 21—Continued
Securities
Specialists in —
of the
Associated Gas & Electric
Complete Statistical Information—Inquiries
CO.
&
S. A. O'BRIEN
Members New York Curb Exchange
150
»
:
'
Telephone between New York and Boston
Bell System Teletype—N.Y, 1-1074
'Incorporated
Teletype: New York 1-1078
Tel.* HAnover 2-0510
Bonds
OFFERINGS
Bid
Amer States P 8
82
55*s_1948
Amer Wat Wks A El 5s '75
1015* 1025*
85
Aria Edison 1st 5s....1948
865*
Ark Louisiana Gas 4s.1951
Keystone Telep 65*8.1955
50 5*
1005* 1005*
Ark Missouri Pow 1st 6s '53
70
E 4s. 1970
Los Angeles G A
10954 1095*
1035*
Consumers Water Co.
1065*
Inc.
Water Works & Electric Co.,
American
102
106*
Bonds of Subsidiaries
First Mortgage
525*
Long Island Ltg 5s—1955
1945
1st 6s series A..
Serv 38.1951
Kan Pow A Lt 1st 45*8 '65
Kan City Pub
WANTED
Ask
Bid
Ask
84
NEW YORK
EXCHANGE PLACE,
40
Direct Private
Public Utility
Invited
SmRT.BRENT&O).
o
75 FEDERAL ST., BOSTON
HANcock 8920
BROADWAY, NEW YORK
COrtlandt 7-1868
Water Works Securities
System
(Maine)
71
Associated Electric 5s. 1961
68 5*
695*
465*
48
Metrop Edison 4s ser G '66
Monongahela W P Pub Ser
10854 1085*
Assoc Gas A El Co
106
36 5*
375*
1st A gen 4>*s
1960
MtD States Pow 1st 6s 1938
37 5*
38
Narragansett Elec 35*s '66
Newport N A Ham 5s. 1944
10354 1035*
10654
4>*s '58
Assoc Gas & Elec Corp—
Income deb
Income deb
35*s
1978
39*s._.1978
1978
Income deb 4s
405*
41
45*8...1978
44
45
New Eng G A E 5s...
Conv deb 4s....___1973
73
75
New York Cent Elec 6s '62
Conv deb
745*
805*
76
N Y Edison
82
Est. 1854
101
Income deb
45*s
1973
Conv deb 5s
1973
Conv deb 55*s
354s
1962
ser E
*66
75~~
73
1973
88
Sink fund Income 4s 1983
45
Northern N Y Utll 5s. 1955
Sink fund lnc 45*8.-1983
4854
Old Dom Pow 5s May
Sink fund Income 5s 1983
56 H
1055* 106
505*
Sink fund lnc 55*8.-1983
Pacific Gas A El
Participating Ss._._1940
1005* 1015*
Bellows Falls Hy El 6s 1958
102?4 10354
Blackstone V G & E 4s '65
110
15'61
354s H »61
Parr Shoals Power 58.1952
695*
715*
101
104
99
Central CAE 65*8...1948
1st lien coll tr 6s
1946
100
1065* 10754
88
/86
Public Serv of Colo 6s. 1961
Cent Ark Pub Serv 5s 1948
1st 4s '65
Peoples L A P 5 5*s ...1941
Potomac Elec Pr
t—
105 5* 1065*
Penn Telep Corp
103 5* 1035*
106 5*
Pub Serv of N H 354s D '60
10554 1065*
354s. 1966
7954
845*
Pub Utll Cons 55*8... 1948
Cent 111 Light 35*8...1966
Cent Ind Pow 1st 6s A 1947
1075* 10754
San Diego Cons GAE 4s "65
935*
Sioux City Gas A El 4s 1966
1015* 102
Cent Maine Pr 4«
10554 10554
Sou Calif Gas 1st 4s
10554
Sou Cities Utll 5s A..1958
ser
Colorado Power 6s
G '69
1953
Columbus Ry P A L 4s *66
Conn River Pr 354s A.1961
Consol E & G6s A
7854
83 5*
915*
8054
8154
1095* 10954
S'we8tern Gas A El 4s. 1960
1055* 105J*
Tel Bond A Share 5s.. 1958
Utlca Gas A El Co 5s .1957
123
645*
105
1055*
Middlesex Wat Co 55*9* 57
107
Ashtabula Wat Wks 5s *58
103 5*
Atlantic County Wat 5s '58
1035*
__
1965
105"
Monmouth Consol W 5s '56
Monongahela Valley Water
55*8..
1950
Morgantown Water 5s 1965
Birmingham Water Works
3J*s '65
Federal Pub 8erv 1st 6s '47
Federated Utll
1065* 107
Virginia Power 5s
/45
Wash A Suburban 55*s 1941
55*8.-1957
80
82"
1942
Western Pub Serv
55*s '60
106
68 series C
1957
1035*
Muncle Water Works 5s '65
1045*
1954
101
New Jersey Water 5s...950
102
6 5*8 serle8 A
1954
104
New Rochelle Wat 5s B '51
90
1951
91
55*s
Butler Water Co 5s...1957
1051*
Calif Water Service 4s 1961
102 5*
Chester Wat Serv 45*s '58
103 5* 105
New York Wat Serv 59 '51
1035*
1035*
105
Iowa Sou Utll
101
1025*
5H8---1950
995* 1015*
91
93
10454 1045*
10354 1045*
Wise Pr A
Light 48
1966
Ohio Water Service 5s. 1958
6>*s series A
Ore-Wash Wat Serv 5s 1957
9954 100
1025* 1045*
Penna Water Co 5s... 1940
106
City W (Chat) 6s B...1954
1015*
Peoria Water Works Co—
1957
1055*
1st A ref 5s
1950
1015*
1st consol 4s
1948
1st consol 5s
1948
101
Prior lien 5s
1948
103
Phila Suburb Wat 4s..1965
107
1st 6s series C
....1957
1055*
1947
102 5*
6 5*s series A.
1035* 1045*
Connellsville Water Ss.1939
99
Pittsburgh Sub Wat 5s '58
103
89
91
Plainfleld Union Wat 5s '61
108
1005* 102
Richmond W W Co 58.1957
1055*
Roanoke W W 5s
98
Roch A L Ont Wat 5a. 1938
101
1958
98
100
St JosephWater 4ssel9A66
Scranton Gas A Water Co
1045*
45*8
105
1015* 1035*
1942
...1942
104
1960
104
D
1st A ref 5s A.
1952
995*
1015*
5s series B
1952
99
1005*
Hackensack Wat Co 5s '77
1977
5 5*s series B
Huntington Water 5s B '54
Broadmoor (The) 1st 6s '41
B'way Barclay 1st 68.1941
Certificates of deposit
B'way A 41st Street—
1st leasehold 6 54s. .1944
33
1045*
Union Water Serv 55*8 '51
1025*
Water Serv Cos Inc 5s. 1942
...1948
Majestic Apts 1st 6s__1948
Metropolitan Chain Prop—
..1948
6s....
/285*
Ask
W Va Water Serv 4s..1961
1958
1947
6s
/40
42
8 f deb 5s
:
1945
68
Munson Bldg 1st 65*8.1939
625*
655*
Chesebrough Bldg 1st 6s '48
Chrysler Bldg 1st 6s__1948
76
78
1st mtge 2s stmp A reg'55
935*
955*
1st A gen 6s....... 1946
/535*
565*
/66
Court A Remsen St Off Bid
Apr 28 1940
1st A ref 55*8
N Y Eve Journal 65*8.1937
75*
Eqult Off Bldg deb 6s. 1952
Deb 5s 1952 Legended
50 Bway Bldg 1st 3s lnc '46
785*
805*
795*
51
53"
600 Fifth Avenue—
unstamped... 1949
502 Park Ave 1st 6s. .1941
1045*
6s
N iv
1947
42 Bway 1st 6s
1939
1st 6 5*8
Oct 1 1941
Fuller Bldg deb 6s
715*
73
/295*
76
Boston
Store Securities
325*
1943
1st fee A 1'hold 65*8.1940
105*
66 5*
685*
66 5*
905*
925*
505*
75
635*
Par
53"
preferred
B/G Foods Inc com
51
53
*
*
common..*
7% preferred
100
Diamond Shoe pref..*
100
51
$2.50 conv pref
Bohack (H C)
/41
43
/195*
/195*
21
21
235*
25
Savoy Plaza Corp—
1945
May 15 1948
Fishman (M H)
555*
625*
215*
24
61 Bway Bldg 1st 5 5*8 1950
General 7s
1945
51
53
/II
/625*
/505*
4
7
28
33
54
58
4 5* %
104 5* 1065*
160
18
-
preferred
(I) Sons com...
65*%
103 5*
106
112
-
195*
Reeves
(Daniel) pref.. .100
Rose 5-10-25o Stores..
105
103
100
105
100
80
Bid
--
.5
100
Schlff Co preferred... .100
103
United Cigar Sts 0 % pf. 100
100
7% pref._100
preferred. _._.*
Kobacker Stores
*
Syracuse Hotel (Syracuse)
1st 65*8
Oct 23 1940
7%
preferred
23
26
22 5*
25 5*
—
525*
1st 5 5*a
1939
98
Bldg 1st 4s 1941
Walbridge Bldg (Buffalo)—
1st 65*8
Oct 19 1938
63
"
-
"
Cache La Poadre Co
mmm
Eastern Sugar Assoc
/265*
295*
/72
Preferred
20
1
1
1
o> O
6% pref ctfs
U S Stores preferred.. .100
Haytlan Corp Amer
1
Ask
24 5*
25
195*
21
33
34 5*
75'
Westing house Bldg—
1st fee A leasehold 4s '48
7
2
5
Sugar Stocks
Trinity Bldgs Corp—
/505*
695*
*
100
preferred
Murphy(G C) $5 pf__. .100
Nelsner Bros pref
535*
665*
London Terrace Apts 6s '40
695*
123
Miller
115*
15
...
2 Park Ave
1936
120
Melville Shoe—
15
Par
53
935*
1&42
125*
1105*
375*
pref 100
Preferred
60 Park PI (Newark) 6s '37
925*
1st 6 5*s (L I)
Ask
109
105*
Kata Drug
616 Madison Av 1st 65*s"38
f50
1st 68 (Bklyn)
45*
Bid
115*
.100
355*
Green (H L)
61
Textile Bldg 1st 6s....1958
Ludwig Bauman—
(S H) 6% pref..
Lerner Stores pref
4)*
14 5*
Stores...*
Edison Bros Stores
Sherry Netherland Hotel
1st 55*8
Kress
'
Realty ext 1st 55*8.1945
6s
Par
Ask
15
14
99
Blckfords Inc
/495*
Bid
*
-.100
Borland Shoe Stores
7%
12
645*
/59
Chain Store Stocks
Roxy Theatre—
Corp
Chain
/75*
Co
5 5*s
465*
655*
6S.4—
58
5s income
/435*
1947
1«
-
/405*
double stpd---1961
Realty Assoo Seo Corp—
695*
Loew's Theatre Re alt
NEW YORK
-
57 William St.
5J*8 series Q
19th A Walnut Sts (Phila)
1st 6s
.July 7 1939
51
Lewis Morris
Apt Bldg—
1st 65*8
Apr 15 1937
Lincoln Bldg lnc 55*8.1963
Chicago
465*
395*
Prudence
73 5*
Lefcourt Manhattan Bldg
1st 4-5s extended to 1948
BURR Si COMPANY Inc.
36
/57
165 Bway Bldg 1st 5 5*8 '51
27
/495*
70
George 4s
1950
Keith-Albee Bldg (New
Rochelle) 1st 6s
1936
103
103 5*
36
65
50
Lexington 1st 6s '43
1949
104"
1045*
67
68
Hotel St
6s series A
•
715*
305*
/455*
/385*
103 E 57th St 1st 6S..1941
/48
Hotel
102
1960
W'msport Water 5s. ..1952
55*8 series F-l
1 Park Ave 6s..Nov 6 1939
1949
1946
Harrlman Bldg 1st 68.1951
Hearst Brisbane Prop 6s '42
1025*
5s series C
995* 1015*
101
295*
1944
65*8 unstamped
Graybar Bldg 6s
345*
345*
Oliver Cromwell (The)—
1st 6s.
Nov 15 1939
1400 Broadway Bldg—
1st 65*8 stamped
1948
Fox Theatre A Off Bldg—
Westmoreland Water 5s '52
98
95
705*
/285*
44
62d A Madison Off Bldg—
Film Center Bldg 1st 6s '43
40 Wall St Corp 6a...z 1958
1015*
Wichita Water Co 5s B. *50
108"
106
93
55*8 series C-2
/6 5*
65*s
1005*
1005*
1951
1050
N Y Title A Mtge Co—
55*s series BK
/32
1947
..
101*5*
98
1950
1st mtge 55*8
1045*
N Y Athletic Club—
1st 6s
995*
Western N Y Water Co—
1st mtge 5s
101
98
1025*
103"
97
5s series B
Joplln W W Co 5s
Lexington Wat Co 55*s '40
89
1015*
102
Metropol Playhouses Inc—
Chanln Bldg Inc 4s... 1945
Dorset (The) 1st 6s...1941
East Ambassador Hotels—
Sup 5 5*8 *65
1957
10151 1015*
Kokomo W W Co 5s. .1958
30
Virginia Water 5s '51
Metropolitan Corp (Can)
Broadway Motors Bldg—
6b stamped
Bid
Ask
52*5$
103 5*
1962
West
1025*
102 5*
Texarkana Wat 1st 58.1958
Jamaica Water
Bid
105
1949
6s series A
104
79"
77
103
1960
Terre Haute Water 5s B *56
108
103
5s
101
103
1954
Interstate Water 6s A. 1940
1025*
100
..I960
Illinois Water Serv 5s A '52
Bell System Tel.
NY 1-588
Y.
101
102 5*
6a series A
5s
Real Estate Bonds and Title Co. Mortgage Certificates
/425*
/495*
/31
*47
South Bay Cons Wat 6s '50
Sou Pittsburgh Wat 5s '55
6s
1st mtge 35*s
1966
Indianapolis W W Secure—
Jan 1 1941
1967
106"
1035* 1045*
5s series B
107
105
1025*
Indianapolis Water
Alden 1st 6s
1958
Scranton Spring Brook
Water Serv 5s...1901
Sedalia Water Co 65*8
5s serels A
INCORPORATED
93
91
96
Greenwich Water A Gas—
BAKER & CO.
1950
101
1958
45*8
58 series
Public Utilities—industrials—Railroads
1085*
Pinellas Water Co 5 5*s '59
10454 1045*
Reports—Markets
995*
86
1946
68 series A
100 5* 102 5*
84
1946
Consol Water of Utica—
Estate Securities
150 Broadway, N.
96
Penna State Water 5 5*8 *52
1025*
6s series B
2360
•
1035*
68 Berles A
BArclay 7
94
1951
E St L A Interurb Water—
AMOTT,
935*
101
City of New Castle Water
5s...
...1941
Davenport Water Co 5s '61
Real
915*
99
102
1st mtge 5s
1961
99
108
1951
5 5*s series B
Wisconsin Pub Ser
1st mtge 4s.
104
995* 1005*
Ohio Valley Water 53.1954
(Wash)
Community Water Service
Western Mass Co
Wise Mich Pow 3 J4S..1961
5*s '53
6s
5s series C
10754 108
354s 1946
Wisconsin G A El 35*sl966
Newport Water Co 5s. 1953
Ohio Cities Water 5
Commonwealth Wat (N J)
.
West Penn Pr 3 5*s ser I *66
Green Mountain Pow 5s *48
995* 1015*
102 5*
102 5*
5s series B
*
Edison EI III (Bos)
109"
Clinton W Wks Co 5s. 1939
10754 1075*
63 5*
Long Island Wat 55*8.1955
1956
Citizens Water Co
10654 1065*
61
625*
103 54 10454
855*
835*
1962
100 5* 102
Alton Water Co 5s
1055* 10654
Ask
Bid
Ask
Alabama Water Serv 5s '57
103
Pennsylvania Elec 5s_1962
Brooklyn Edison 3 5*8.1966
Water Bonds
1005* 102 5*
102
1025*
Bid
3 5*s.l966
1st A ref mtge
Tel. 2-3761
PORTLAND, MAINE
Niagara Falls Power—
90
H. M. PAYSON Si CO.
1065*
99
♦
For footnotes see page 1214.
5*
15*
Par
Savannah Sugar Ref
Bid
*
130
Ask
130
preferred
100
West Indies Sugar Corp_.l
7%
4
135
45*
Financial
1214
Aug. 22, 1936
Chronicle
Quotations on Over-the-Counter Securities—Friday Aug. 21—Continued
HAMILTON GAS CO. V T C
Specialists in all
Bought, Sold & Quoted
Investment
QUAW & FOLEY
NEW YORK
30 BROAD STREET
Company Securities
GROUP#
DISTRIBUTORS
•
Members New York Curb Exchange
63 Wall
Telephone HAnover 2-9030
Incorporated
BOwling Green 9-1420
Street, New York
Kneeland 8C Co.—Western Trading
Correspondent
REORGANIZATION SECURITIES
WHEN
Investing Companies
ISSUED SECURITIES
RIGHTS
M. S. Wien & Co.
Amerex Holding Corp
Established 1019
Members of the
2.13
21%
22%
*
1.15
Amer & Continental Corp.
12%
Amer General Equities Inc
1.05
Am Insurance Stock Corp*
Antfeles, Gal.
Los
18.44
Amer Business Shares.-.1
New York Security Dealers Assn.
Y.
Teletype N Y 1-1397
25 BROAD ST.. N.
HAnover 2-8780
Ask
1.93
*
Affiliated Fund Ino com.
4 %
Maryland Fund Ino corn-
9.54
10.32
Mass Investors Trust
1
27.09
28.74
17.19
Mutual Invest Fund.—-1
15.73
.31
".51
Nation Wide Securities—1
4.44
34.27
Voting trust certificates.
1.89
4.73
4.20
4.60
No Amer Bond Trust ctfs.
No Amer Tr Shares 1953—
46
*
3
5
26.37
28.36
Series 1956
1
1%
Continental Shares pref
10%
2.81
Series A A
2.05
BOwling Green 9-3565
mm
10
29
100
Common B shares
7% preferred
mm
31
36%
10
mm
6.04
Cumulative Trust Shares.*
.-mmmrn
mm
mm
m mm
m
70
75
42%
43 %
15%
16%
3%
4%
.96
1.07
1.67
1.84
13.03
13.53
4.85
5.15-
Selected Amer Shares Ino.
1.67
Selected American Shares.
mm
.75
.50
Royalties Management
3.77
'-rnrnmm
■
•
*
38%
110
100
•
Plymouth Fund Ino A. 10c
Quarterly Ino Shares..25c
Representative Trust Shs.
Republlo Investors Fund .5
mm
115
com
8% preferred
COMPREHENSIVE SERVICE
'■'mm
3.42
Series ACC mod
Securities...100
Class B
3.42
mod
AA
78%
3.47
-
Pacific Southern Inv pref.*
Class A
--..*
....
.
7.72
Series
Teletype N. Y. 1-1666
Northern
10%
mmrnrn
3.44
Series 1958—
2.72
Accumulative series
■
In the
4.52
■
3.49
Series 1955
*
Corporate Trust Shares
;' v
mm'
2.62
40
*
Commercial Nat'l Corn..
Association
mm
3%
74%
Cram A Forster Ins
A
7
4%
mmmm
■
N Y Bank Trust Shares
Class B
Exchange, Ino.
Broadway, New York
4%
'
25.34
3
20
Ltd
Central Nat Corp cl A
C. E. UNTERBERG & CO.
61
6%
23.10
Canadian Inv Fund Ltd.l
Co.
108.03
*
1.17
18%
Fund
Century Trust Shares
[ Commodity
105.89
Investors Fund C
Investment Tr of N Y
13
1
Bullock
Sylvania Industrial Corp.
/New York Security Dealers
De
45
32.04
Broad St Invest Co Ino
,
43
Keystone Oust Fd Inc B-3.
Major Shares Corp
*
1
British Type Invest A
Members
*
1.14
43
7% preferred
1.26
Ask
1.00
Amer^
6%
Bankers Nat Invest Corp *
Basic Industry Shares
*
Climax Molybdenum
Investors Fund of
Invest Co of Amer oom.IO
4
2
Assoc Stand Oil Shares
Bid
Par
Bid
17.33
Par
Fund
Administered
1.82
''mm
mm
'
Deposited Bank Shs ser A.
Deposited Insur Shs A
Deposited Insur Sh ser B
Bristol & Willett
2.61
3.60
4.00
Diversified Trustee Shs B
Over-the-Counter Market
Selected Cumulative Shs—
•
....
9.76
Selected Income Shares
2.90
3.74
5.14
Selected Industries conv pf
mm
■'m
-
mm
mm'
21%
22%
22.08
10%
m'mmm
*
21.21
C
4.70
5.05
Standard Am Trust Shares
4.15
D
7.15
7.90
Standard Utilities Ino
1.05
1.13
25c
/I-72
1.88
State Street Inv Corp
mmm:m
Equit Inv Corp (Mass)—5
Equity Corp ov pref
1
32.19
34.24
*.* 105.13
4.05
Super Corp of Am Tr Shs A
Fidelity Fund Ino
*
28.07
Fixed Trust Shares A
Established
*
12.20
♦
10.20
Foundation Trust Shares A
Fundamental investors Inc
4.90
5.20
23.48
25.00
1920
Members New York Security Dealers Association
110 Broadway, N. Y.
~ Tel. BArclay
Bsll System Teletype NY 1-1493
Dividend Shares.
7-0700
39
Spencer Trask Fund
42
AA
30.24
——— —
*
4.40
■
2.71
—
B
,4..-.-:
mm
mm
rnrnmm
4.25
2.71
BB
"
B—
Industrial Stocks
Par
Amer Air Lines Inc
v t c__
12%
Book--
100
Maytag warrants
108
8% cumul preferred
112
6%
*
16%
29%
18%
31%
National
100
~5%
Casket
100
*
-
Preferred
45
47
Art Metal Construction. 10
18%
19%
Beneficial Indus Loan pf_*
52
53%
Northwestern Yeast
Bowman-Blltmore
6%
Ohio
1~26
1.56
1.91
U S El Lt A Pr Shares A..
''mm'
68
72
Petroleum
39
40%
Publication Corp com
Columbia Baking com
$1 cum pref
12
14
25
27
56 H
58
56
57%
100
Remington Arms com
*
Scovill Mfg
25
Singer Manufacturing—100
53
5
Sparta Foundry common._
Standard Cap A Seal
5
Standard Screw
100
149%
Crowell Pub Co
$7
*
com
preferred
108%
100
Dentists' Supply Co of N Y
-
48
51
*
53
56
100
118
Dictaphone Corp
Preferred
Dixon (Jos) Cruclble___100
Doehler Die Casting pref.*
Preferred
-
48
Flour Millsof America
52
mm
51%
...
16
*
21
69
Douglas Shoe preferred. 100
Draper Corp
*
72
1%
*
._*
shares
1%
com
6%
5%
6%
35%
Graton A Knight com
*
...100
_
25
1
Lawrence Portl Cement 100
Lord & Taylor com
1st 6% preferred
5%
64
39%
com
Great Northern Paper.
Klldun Mining Corp
102
43
33
1H
20
100
100
8% preferred
110
120
mm
46
3.00
3.10
Voting trust ctfs.—"
1.21
1.29
1.30
1.42
Un N Y Bank Trust C 3—
3%
1.46
1.59
Un N Y Tr Shs se rF
2
.1.22
1.33
Wellington
RR Equipment shares..
Steel shares
1.21
1.32
1.58
1.72
Investm't Banking Corps
Tobacco shares
1.22
1.33
Bancamerica-Blalr
1%
21%
22%
shares
Guardian Inv Trust com.*
Preferred
Huron Holding Corp
Incorporated Investors
.45
Am Wire Fabrics 7s__1942
Arnold
Print
Wks
6%s
1st
s
7
8%
9%
River Bridge 7s
1953
7% gold rouble
*
No
10
42%
44^
103
109
1951
Consolidated Oil 3 Ha. 1951
ContinentalRoll&Steel Fdy
West Va
36
2%
11%
12%
7%
a
par value,
Coupon.
a
2
t Now listed
a
40
100
102
5%
'
'6%
36%
17%
Jones
4^s
A
mm
35*"
35%
34
100
Laughlin
Steel—
1961
e
Registered coupon (serial)
y
•
Now selling on New
-
Young (J S) Co com—100
7% preferred
100
Elizabeth
--
E.
Mr.
Gorrie.
Berg &
Co., where
100.3
100
15 1936
15 1937 101.10 101.14
Aug 15 1938 102.14 102.18
101.6 101.8
June
1 1939
tjomm 6^8.1937
86
82
Aug
Aug
1%B
Journal
-mm.
or
that
the latter
98%
96%
72%
101.8
18%
Martin
(Glenn
1948
L)
6s
108% 110%
conv
1939
103% 104%
Merchants Refrlg 6s—1937
1946
N Y
98
mm
f42
44
95
Shipbuilding 5s.-1946
one
was
Std Tex Prod 1st 6Hs as '42
Struth Wells Titus 6%a '43
Sherman
Woodward Iron 5s
6s
'44
1952
and
Berg &
approximately 20 years with the firm
some
department. >and in this position
of the largest
industrialists in the country.
of Wall Street's best known women executives.
President of the
Chase
of the
Fellsmere
Sugar Co.
Punta
Alegre
Sugar
She
R. Thayer, during the period
National Bank of New York,
woman ever to occupy a
For several years she was
Secretary
desk on the platform with the
Assistant Treasurer and Assistant
Co.,
and is now Treasurer of the
of Florida.
D. Conroy,
formerly of Hegarty, Conroy & Co., Inc., with offices at 120 Broadway,
New York.
Associated with Mr. Conroy are Vern Dushayne,
pherson, Walter
R.
R. G. Mc¬
Schwalb, William Neely, Jacob R. Lovett, L. Merle
97
Kennard and C. W. Quinn.
—Noel
*
Reynolds Investing 5s 1948
Scovllle Mfg 5%b
1945
through Herrick,
—Formation of Conroy & Co., Inc., is announced by Thomas
Nat Radiator 5s
Wltherbee
t— f...,
Chase officers.
Kelsey Hayes Wheel Co—
Conv deb 6s—
104% 104%
clear
served for many years as assistant to E. V.
Ask
Wall
he( started work as a runner and where
until recently he was head of the trading
and became the first
103
will
The firm
Kahn has been connected for
Mrs. Gorrie is
Bid
with offices at 40
The partners of the new firm are Arthur Kahn
Co. and will represent that house on the Curb.
of Herrick,
,
126
Ask
2s
NOTICES
—Announcement is made of the formation of the firm of Arthur Kahn
60
55
120
49
m
prioe.
Ex-dlvldend.
& Co., members of the New York Curb Exchange,
Mrs.
25
47
101.6
x
gold rouble bond equivalent to 77.4234 grams of pure gold.
St., New York City.
100
Worcester Salt.
•
Federal Farm Mtge Corp—
IMS——Sept 1 1939
Haytian Corp 8s
1938
| Ask
87.421
104
16%
preferred.-—100
1%B
1^8
70%
i When issued,
CURRENT
19%
34%
preferred
Dental Mfg.20
101% 102%
1937
10% gold rouble.—1942
..
18
WJR The Goodwill Station
.
103% 103%
Deep Rock Oil 7s
1
York Stock Exchange.
New
on
per 100
102
_
Wllcox-Glbbs common._50
$7 1st
21%
98%
95%
91.15
Interchangeable, b Basis
/ Flat price,
X Quotations
9
White Rock Mln Spring—
97%
98%
Bid
Union of Soviet Soo Repub
86.55
1943
York Curb Exobange.
>2%
-—*
pref. 100
Pulp A Pap com.*
$3 conv preferredWelch Grape Juice
$3 cum
Commercial Invest Trust—
Debenture 3^s
7%
19
9
111
102%
44 H
6%
Ask
Union of Soviet Soo Repub
30
17
White (S S)
Bear Mountain-Hudson
Chicago Stock Yds 5s.1961
8
7
26.48
Bid
..
29
West Dairies Inc com v t c.
67
'42
f
—1941
•
43%
Corp..
40
Miscellaneous Bonds
American Tobacco 4s_1951
2%
ISoviet Government Bonds
25
has handled orders for
Bid
Boston
Corp..
Schoellkopf, Hutton A
Pomeroy Ino com.
.60
24.63
*
First
1%
4
20.76
18.93
Fund
4%
37%
330
38
pf—100
Preferred
250
100
20%
B
1.54
Warren Northam—
5%
32%
Gen Flreprooflng $7 pf.100
Golden Cycle Corp
10
19%
1.14
1.42
'mm
23%
*
Corp...-.*
Tublze Chatlllon cum pf.10
Unexcelled Mfg Co
.10
Un Piece Dye Wks
1.69
1.04
Petroleum
-
i
5%
*
Preferred
2d
4%
*
Galr (Robert) Co com
Preferred
Steel
1.56
—
'
3%
United Mercb & Mfg com *
Foreign shares
Great Lakes S3 Co
Taylor Wharton Iron A
3
41%
86%
Trico Products
Foundation CoAmerican
2
103
Stromberg-Carlson Tel Mfg
Sylvania Indus Corp
*
Taylor Milling Corp
*
101%
.50
106
38%
*
.
Mining shares
...
102
Conversion—1
2.10
Merchandise shares
22
325
*
Chemical shares
5
17%
Carrier Corp 7% pref__100
Climax Molybdenum
*
1.94
Food shares
21%
122
B
Investing shares
50
47%
118
Class B
mm mm
1.68
16
100
Columbia Broadoastlng A *
-
6.18
1.41
19%
Ohio Match Co
$7 1st preferred.-
mm
6.98
1.14
45%
29
*
2.93
D
Trusteed Industry Shares
81%
2
Pathe Film 7 % pref
Trustee Standard Oil Shs A
Trusteed Amer Bank Shs B
85
27
Preferred
7.12
5.60
6.48
.....
Trusteed N Y Bank Shares
*
Pharmacal
mm mm
3.00
1.60
100
5
Leather
Trustee Standard Invest C
2.08
20
*
3%
6.55
1.47
3%
100
com..
Supervised Shares
15.20
1.92
46
Nat Paper A
Norwich
Hotels
1st preferred
mm mm
■
Automobile shares
101%
Type com
5% preferred
100
New Haven Clock pf
100
Canadian Celanese
B
110
American Republics com.*
Andlan National Corp
*
•
8.04
13.98
29
;
—*
Preferred
81
8.04
D
115
27
113
100
.
Group Securities—
Agricultural shares
Mock Judson A Voehringer
Amer Maize Products
.
Building shares
1
33 %
25
6.14
Fundamental Tr Shares A.
General Investors Trust-
3
-
'
12%
71
100
preferred
32 %
American Hardware
American Mfg
Preferred
11%
2%
Merck & Co Inc com—
American Hard Rubber—
Ask
68
*
Preferred
69
Bid
Macfadden Publlca com—*
71*"
11%
31%
Arch
American
Ask
Bid
*
American
Par
-
I
c
■
89%
fll%
81
91%
107
106
13%
more
Armstrong, last
/15
m%
66%
associated with Wood, Low & Co. and for
than 10 years prior to entering Wall Street
engaged in dealing in com¬
modities with foreign countries, has joined the investment
Baker, Weeks & Harden.
.
17
The company will deal in investment securities-
year
in
acting in
an
department of
Mr. Armstrong has had considerable experience
advisory capacity on the investment of estate funds.
Volume
Financial
143
Quotations on Over-the-Counter SecuritiesFriday Aug. 21—Concluded
Chronicle
1215
Toronto Stock Exchange—Mining Curb Section
Aug. 15
to
Aug. 21, both inclusive, compiled from official sales lists
Sales
Friday
Last
Week's
Sale
Stocks—
Foreign Unlisted Dollar Bonds
Bid
Anhalt 7b to
1946
Antloqula
1946
8%
Bank of Colombia 7 %
.
Bank of Colombia 7 %
.
1948
Barranqullla 8s'35-40-46-48
Bavaria 6%s to
Bavarian Palatinate
1945
Hansa S3 6s
8a
20%
Housing A Real Imp 7s '46
Hungarian Cent Mut 7s '37
19
1969
6s
1940
Brandenburg Eleo 6a_.1953
Brazil funding 5%.1931-51
Brazil funding scrip
Bremen (Germany) 7s
'35
22%
16%
change Bank 7s
1936 /29
Hungarian defaulted coups /20-40
/28 ;
Hungarian Ital Bk 7 Mb '32
26
Ilseder Steel 6s
1948
17
Jugoslavia 5s....
25%
8%
6%
Land M Bk Warsaw 8s '41
/45
8%
Leipzig O'land Pr 6%s *46
Leipzig Trade Fair 78.1953
Luneberg Power Light A
/27
/26
23
69%
30
Mannheim A Palat 7S.1941
21%
Merldionale Elec 7s.—1957
1959
1952
Montevideo 6s
6%s
/31
Call (Colombia) 7%-1947
Callao (Peru) 7%%„ 1944
24
/23H
/24H
26
/12
1947
Chile, Gov. 6s assented
7s assented
12%
/10
/io%
/3
/14
/14
1946
10%
(A A B)
1946-1947
C C A D 7—. .1948-1949
1968
Natl Bank
5
15
70
/72
7s stamped
'
5s
-
-
Panama 6% scrip
Porto Alegre 7%
23
East Prussian Pow 6s. 1953
Electrlo Pr (Germ) 6%s '50
6%s
1953
25%
25%
Salvador
/II
13
/19H
/60H
/75
20 M
61H
/10H
/15%
11%
16%
/25H
/23H
/25
-1951
6Hs
28%
Saxon State Mtge 6s__ 1947
Serbian 5s
1956
8
Serbian coupons
27
38
37
7B_
1940 /100H
_
Utll" 7s—1946
10
Stettin Pub
19%
Stinnes 7s unstamped. 1936
7s unstamped
1946
755
/12%
Toho Electric 7s_.—1955
94
12%
/14%
108
1951
1950
96
95 M
99
Vesten Elec Ry 7s
Wurtemberg 7s to
M
97%
100
/25
/21
/24H
1947
1945
11%
27
24
26%
3.10
The following securities
of the current week:
sold at auction
were
Wednesday
on
Hudson Bay
Kirkland Townsite
4,500
7e
'
Lake Maron.
*
Malrobic Mines
1
*
13%c
4%c
$ per Share
w
RR., pref.,
par $100
Corp., pref.,
10 Saco Lowell
9,000
Co.,
common
$500 Boston A Maine RR. 5s, June,
Jan
28 %c
Feb
31c May
21c June
3c
Jan
l%c
Jan
36c
9,250
12c
Jan
3c
3c
3%c
41,000
l%c
Jan
10c
ll%c
7c 287,200
2,300
10c
5,600
4c
July
15c
1,100
7c
Jan
21 %c
23c
23,405
46,700
3,185
92,850
26,400
M
4c
Parkhill
4c
22c
1
5%c
7 %c
5%c
Pend Oreille-
...1
80c
80c
85c
Porcupine Crown
...1
ll%c
ll%c
13%c
1
8c
8c
9c
5%c
4%c
Ritchie Gold
7c
18c May
2%c
Jan
Jan
31 %c
Feb
11c June
Jan
lc
Apr
7c
18c June
July
4c
26c
Jan
70c
Feb
42c July
6%c May
.Aug
4c
15c
_
*
-.1
1.20
Feb
15c
Mar
13 %c May
5%c
55,600
4c
Apr
9c
Feb
4c
4c
4%c
Jan
7 %c
Mar
15c
17 %c
53,700
85,000
3%c
15%c
Sudbury Mines
2c
Jan
23c May
7c
6%c
7c
3,600
4c
Jan
9c May
...1
Temiskaming
Wood-Kirkland
1
THE PARIS
BOURSE
Aug. 15
Aug. 17
Francs
Francs
Bank of France
received by cable
as
Aug. 18 •Aug. 19
Francs
Aug. 20
Aug. 21
Francs
Francs
Francs
5,600
5,500
5,600
5,800
Banque de Paris et Des Pays Bas
Banque de l'Union Parislenne—
638
616
630
630
234
221
227
228
Canadian Pacific
187
186
186
188
19,700
19,600
19,700
19,600
663
623
643
635
920
870
880
890
Canal de Suez cap
Cle Distr. d'Electrlcitie
Cle Generale
*.
d'Electrlcitie
Cle Generale
Transatlantique—_
15
15
15
259
259
665
645
655
140
136
140
363
358
364
366
1,130
890
138
Credit Commercial de FranceCredit Lyonnalse
*
19,500
•
645
Courrieres
*m
184
260
Comptoir Nationale d'Escompte
Coty 8 A
I
5,800
15
269
Citroen B_
15
"
88
88
88
_
""85
88
1,080
1,100
1,100
1,090
980
950
950
960
950
Energie Electrique du Nord
Energle Electrique du Littoral-.
234
228
230
235
478
475
475
465
Kuhlmann
444
425
435
436
L'Alr Liqulde—
Holi-
780
day
651
750
760
645
630
363
«
630
370
—
660
625
«.
760
650
626
Lyon (P L M)
Nord Ry
770
'
Orleans Ry 6%
Pathe Capital...
362
"362
362
13
12
13
14
1,035
991
1,000
1,005
66.30
65.90
65.90
65.80
65175
65.60
65.20
65.25
65.10
65.00
64.90
Pechlney
Rentes, Perpetual 3%
Rentes 4%, 1917
Rentes 4%, 1918
64.30
65.50
64.20
64.25
Rentes 4%%, 1932 A
Rentes4%%, 1932 B
69.80
69.50
70.80
70.40
70.50
70.40
70.40
87.50
86.80
87.50
87.00
87 20
2,940
1,125
2,910
1,075
2,950
2,950
1,093
2,950
1,090
837
810
820
820
Societe Francalse Ford
36
34
35
33
Soclete Generale Fonclere
Societe Lyonnalse
80
78
78
77
980
944
945
958
Soclete Marseillaise
501
501
501
501
Tublze Artificial Silk, pref
Union d'Eelectricitle
60
58
58
58
322
314
314
310
38
37
38
38
Royal Dutch
1
Saint Gobain C A C
Wagon-Llts
69.50
69.40
69.40
•
"33
-
•Ex-dlvldend.
BERLIN
STOCK
EXCHANGE
Closing prices of representative stocks
each day of the past week:
Aug.
1945
17
1,
_«
'
»
-
18
Aug.
20
Berliner Handels-Gesellschaft
38
21
37
37
37
37
37
.124
123
.155
_
(6%)
125
125
124
154
154
153
100
100
100
99
Dessauer Gas
110
108
108
106
105
Deutsche Bank und Dlsconto-ffiesellschaft. .102
Deutsche Erdoel (4%)
.128
102
101
101
100
98
Berliner Kraft
u.
Llcht
(8%).._
(7%)
151
127
125
124
124
123
Deutsche Reichsbahn (German Rys) pf 7% .123
123
123
123
123
123
Dresdner Bank
102
101
101
100
98
Gesfuerel
Farbenindustrie I G (7%)
165
162
162
161
158
138
136
134
135
135
131
.144
(6%)
Hamburg Elektrizltaetswerke
Hapag
144
144
142
142
141
15
15
14
14
14
106
104
101
15
14
14
188
Norddeutscher Lloyd...'
Reichsbank (8%)
105
15
.
14
107
—
Mannesmann Roehren
187
186
187
.
.
Rhelnische Braunkohle (8%)...
216
Salzdetfurth (7%%)
Siemens A Halske (7%)
175
174
191
190
Share
3 84%
"_I 24
I.III 36%
par $100
15 Aetna Portland Cement Co
6
Co., common,
par $5
3.25 lot
Corp
26 Stanton Oil of Delaware, par $5;
11%
100 Bay State Gas Co. of
Delaware, par
$50; 20,000 Old Trails Exploration Co., pref., of
Arizona, par 10 cents
Bonds—
$7 lot
peT Cent
$1,000 Amoskeag Mfg. Co. 6s, Jan. 1, 1948
70%
By Barnes & Lofland, Philadelphia:
CURRENT
14
180
215
N O T I C
216
174
188
186
182
E S
5 per Share
Co.,
par $20
54M-8
102
on Lives A
Granting
25 John B. Stetson Co., common, no par
par $50
Annuities,
par $10—
40
18
—
—
1 South Philadelphia National Bank, common
IIIIII
IIIII
8%
12%
By A. J. Wright & Co., Buffalo:
Stocks
'
Corp., common
.
—Ira
Haupt & Co., members New York Stock Exchange, 39
Broadway,
distributing a seven-page bulletin on the Township of North
New York, are
Bergen,
J.,
N.
giving
a
complete
financial
history
§ per Share
;
$0.05
municipality
years, outlining plans that were
proposed, court actions
by various bondholders' committees or township itself,
and other important data
regarding the town's default.
taken
were
—Announcement is made that
ciated with McCormick &
Frederick
C.
Dressel
Mr.
Dressel
was
has
become
asso¬
Henderson, Inc., financial, legal and commercial
President
of the
Twentieth
For
a number of years,
Century
Press
and
subse¬
quently was associated with Vories Fisher & Co., and more recently was a
partner in the Stock Exchange firm of McGhie, Dressel & Co. Mr. Dressel
will
contact
investment dealers in regard to
production of registration
statements, prospectuses, indentures and other types of financial literature.
—E.
booklet
.
of the
during the past three
which
printers, located at 411 South Wells St., Chicago.
.
35 Corn Exchange National Bank A Trust
20 Girard Trust Co., par $10.
100 Pennsylvania Co. for Insurances
19
17%
Mills, common, par $100
Manufacturing Co., pref.,
24 Merrimack
common,
Aug. ; Aug.
125
1933,
.16% flat
$ per
20 Farr Alpaca Co., par $50
15 Goodall Worsted Co., par $50
Stocks
Aug.
100
...80 A int.
deposit
Slocks
received by cable
as
Aug.
By Crockett & Co., Boston:
10 Angel International
Jan
14%c
155
Per Cent
$2,000 Paramount Building Corp. of Seattle 1st mtge. 6%s, May
Shares
Feb
22 %c
14%
19%
4%
22%
par $10._.._
Co.
8 Philadelphia Bourse,
May
30c
4%c
Feb
9
143
30c
...
—5
13%
Jan
96%
Bonds—
Shares
6% May
Apr
4
72%
32%
3%
par- $100..
Shops, 2d pref.,
20 Boston Woven Hose A Rubber
21 Willys-Overland
Feb
Commerz'und Prlvat-Bank A. G
95
200 New Hampshire Acceptance
10 Old Colony Trust Associates
50 United Elastic
Aug
34
150
.
50 Lynn Gas A Electric Co. voting trust
certificates, par $25
5 Western Massachusetts Companies
12 Quisset
Feb
4c
78c
13%
24%
$100
35 Wamsutta Mills, par $100
15 Quissett Mills, par $100
Shares
4.50
Jan
38c June
99c
Allgemelne Elektrlzitaets-Gesellschaft
Stocks
of
8%c
6c
July
9%c May
2.25 May
l%c
1,410
25%c 26%c
2,252
21c
23c
2,600
16c 106,550
13%c
*
July
57c
-Per Cent of Par
2 Andover National Bank,
Andover, Mass., par
50 Naumkeag Steam Cotton Co., par $100
certificates
8c
...1
14%c
1,235
99c
*
Jan
Jan
900
56c
6c
Home Oil
July
2c
11 %c
4c 135,100
56c
15
By R. L. Day & Co., Boston:
Hall
2%c
*
THE
30 Pelham
3.25
2%c
*
27c
1214.
AUCTION SALES
4 Norwich A Worcester
Jan
Schneider A Cie
flOM
Unterelbe Electric 6s. 1953
24
24%
97
United Steamship 6s..1937
109
1947
Tucuman City 7s
Tucuman Prov 7s
117% 118%
/41
/21
/23%
/66
Tolima 7s
15%
98
Hanover Harz Water Wks
Shares
3%c
Jan
Rentes 5%, 1920..
/44-55
...
Slem A Halske deb 68.2930 /300
/9%
1957
36 %
Santander (Colom) 7s.l948
Sao Paulo (Brazil) 68.1943
27
/18%
Gt Brit A Ireland 5%s '37
4s
1960-1990
Guatemala 8s 1948
6,600
7c
Eaux Lyonnalse cap
/35%
(Brazil)
8%
1947
Santa Fe 7s stamped..1942
Young
June 1 '35 to June 1 *36.
Graz (Austria) 8s
1954
158
/22
/39
1957
of dep '57
Salvador 4% scrip
Santa
Catharlna
25
—
Coupons
12-1-34 stamped
25 M
23 M
Saxon Pub Works 78—1945
S23
/47
Jan to June 1934
/38
July 1934 to June 1936—
/27 %
July to Aug 1936
25%
German scrip
/7%
German called bonds
/20-50
German
Dawes
Coupons
6%
7%—
Salvador 7% ctf
31
155
1945
Royal Dutch 4s
Scrip
Dec 1934 Btamped
Apr 15 '35 to Apr 15 '36.
41H
16 M
/22
Land-
For footnotes see page
/40
/15H
/23%
142% 145%
78
S75
/26
28%
1948
German defaulted coupons
July to Deo 1933
45
R C Church Welfare 7s *46
24
151
German Atl Cable 7s.. 1945
23%
25%
25%
24
Saarbruecken M Bk 6s '47
French Govt 5%s
1937
French Nat Mall S3 6s '52
Gelsenkirchen MIn 68.1934
German
/22%
/35
/29
Prov Bk
/28
/23
1945
German Building A
bank 6 M %
(Ger¬
many) 7s_
-
/24
1966
16%
23%
»
11
European Mortgage A In¬
vestment 7 Mb
Frankfurt 7s to.
/50
/15%
1968
Church
Protestant
24
55
..1946
Westphalia 6s '33
Prov Bk Westphalia 6s *36
Rhine Westph Eleo 7% '36
Rio do Janeiro 6 %
1933
Rom Cath Church 6 Ha '46
-
/10%
/23%
/22
/22
S22
J24
1945
/22
1945
to
-
53
50
24
Oldenburg-Free State 7%
/20
1945
Duisburg 7% to
53
51
Dortmund Mun Utll 6s '48
7c
97 H
54 M
/21
55
...1949
Duesseldorf 7s to
50
/53%
6%s_.1959
5%c
27c 119,440
Quotations of representative stocks
each day of the past week:
/28
/96
—1947
4s—
/58%
Costa Rica funding 5% '51
Costa Rica Pac Ry 7 Ha *49
Cundinamarca
/29
Oberpfals Eleo 7%—1946
74
/48
1957
6c
,,
of
..1962
Hungary 7Mb
National Hungarian A Ind
Mtge 7%
1948
/ 28
Cordoba 7s stamped..1937
1
Robb Montbray
26 H
Panama 6%%
North German Lloyd 6s '47
4%...1946
56,525
Churchill Mining
Coast Copper
Nat Central Savings Bk
15
68
1953
pest,
27,000
/83
Columbia scrip issue of '33
Issue of 1934
12c
41c
23c
/86
11
City Savings Bank, Buda¬
7s
/22
Municipal Gas A Elec Corp
Recklinghausen 78—1947
Nassau Landbank 6 Mb '38
29
/26
Buenos Aires scrip
/48% 50%
Burmeister A Wain 6s. 1940 /110
113
Caldas (Columbia) 7Mb '46
/10%
10%
Chilean Nitrate 5s
/24
26
Munlo Bk Hessen 7s to '45
1953
Cauca Valley 7%s
Ceara (Brazil) 8%
58~"
Munich 7s to.
10c
34c
Pawnee-Kirkland
53
/57
1945
7s
...
High
34c
Osisko Lake
69
Low
10c
Nordon Corp
66
Range Since Jan. 1 1936
Shares
High
—-1
Oil Selections.
/22%
/24H
1948
Water 7%
«.«.
Low
23c
Mandy Mines
Night Hawk
26"
/23
1943
Price
Grozelle Kirk
28
for
Week
*
East Crest Oil.
/44-55
6%
•
Cobalt Contact
Dalhousie Oil
38
37
1956
Coupons..
Koholyt 6%s__
Bank
7%s
1962
Brown Coal Ind Corp—
25"
Hungarian Discount A Fix-
20%
/25
/19
-
Hungarian
/39H
/22
/29
/16
/7%
/6%
/6%
/6%
/22
/69%
/ 72
1945
Bolivia (Republic) 8s. 1947
7s
1958
7s
stamped. 1939
Aldermac Mines
Brett Trethewey
Central Manitoba
97
1953
6%
Ask
/20%
/15%
_
British
Haiti
Cons
Clt 7% to
..1945
Bogota (Colombia) 6 %s *47
6s 1940
24
34
/22
/32
/19%
/19%
/17%
/24%
1947
Bid
Ask
Par
Range
of Prices
F.
Hutton
on
the gold mining
&
Co.,
61
Broadway, New York,
are
distributing
a
industry.
—Theodore Kliston has become associated with Clinton Gilbert &
Co.
in their statistical department.
Creameries of America,
has
and
Exchange
announced the filing of 23
which
cluded
•
as
a
$77,389,759 represents new issues.
The total in¬
statement involving $200,000 which was received
one
refiling.
Total
$77,3o9,759.00
1,374,333.33
4,045,740.00
Type
No. of Issue
Commercial and Industrial
Securities in reorganization
* ' Voting trust certificates
21
1
1
The total includes the
have been
following issues for which releases
published:
Westvaco Chlorine
of $30 par value
par value common
V.'143, p. 1098.)
Products Corp.—192,000 shares
5% convertible preferred stock and 211,200 shares of no
to be reserved for conversion.
(See details in
stock
the company to
corporation for the redemption of the 7% preferred
improvements, for an experimental plant,
Proceeds from the sale of the bonds are to
of the company's first mortgage 6% sinking
Tulsa
is
Filed Aug. 1, 1936.
Development Co.
(2-2379,
registration statement covering
Oil
Form A-l) of Tulsa, Okla.
500,000 shares of $1 par value
net proceeds from
capital stock to be initially offered at par.
The
the sale of the stock are to be applied to the discharge of
current liabilities,
development of oil and gas properties, and for normal
Frederick L. Bailliere, of Tulsa, is President of the
Filed Aug. 3, 1936.
the acquisition and
operating expenses.
company.
Peerless Corp. (2-2380, Form
A-2) of Cleveland, Ohio, has
filed a regis¬
of $3 par value capital stock.
through warrants which expire Sept. 30, 1936,
to stockholders of record Sept. 10, 1936, in the ratio of the number of whole
shares corresponding most nearly to 3-5 of one share for each share held,
at a price of $2 a s^are.
Such shares as are not subscribed for by the stock¬
holders are to be offered to certain creditors of Brewing Corp. of America,
tration statement
covering 265,210 shares
The stock is to be offered
t
subsidiary, and anv remaining shares are to be offered publicly at the
The proceeds from the sale of the stock are to be turned over
the Brewing Corp. of America and will be applied by that company to
the payment of indebtedness and to the purchase of new equipment.
J. A.
Bohannon. of Shaker Heights, Ohio, is President of the corporation.
Filed
a
market.
to
Aug. 3, 1936.
.
•
.
Inc. (2-2381, Form A-l) of Wallace, Ida., has filed
registration statement covering 1,000,000 shares of 10 cent par value
common stock to be offered at the market, or a price to net the issuer
10 cents a share.
The net proceeds from the sale of the stock are to be
applied to the development of the corporation's property.
Walter Palmer,
of Kellogg, Ida., is President of the corporation.
Filed Aug. 4, 1936.
Silver Syndicate,
a
The Homestead Fire Insurance
refiling) of Jacksonville,
covering 50,000 shares of $4 par
be offered at par.
The proceeds
from the sale of the stock are to be used to purchase land and buildings,
machinery and equipment, and for working capital.
R. R. Richmire,
of Jacksonville, is President of the company.
Filed Aug. 6, 1936.
1936.
stockholders ahd will expire Oct.
All shares not purchased by the
23,
stockholders are to be purchased
Prospectuses
the principal
to be applied
Wilfred Kurth, of New York City, is President
share by The Home Insurance Co. of New York,
underwriter.
The proceeds from the sale of the stock are
$20
a
Mergraf Oil Products Corp. (2-2384, Form A-l) of Detroit, Mich.,
registration statement covering 1,000,000 shares of $1 par value
375,000 shares of $1 par value class B common
stock.
Only 500,000 shares or class A stock are to be offered at present,
it is stated, but the underwriters reserve the right to market a larger number
of shares at their discretion.
The public offering price is $1.50 a share.
Of the class B stock being registered, 250,000 shares are to be issued to
the underwriters, Falvey, Waddell & Co., Inc., Charles C. Chaffee, and
Cecil A. Young, all of New York City, and Edwin A. Sweet, of Pittsford.
N. Y., as additional compensation, and the remaining 125,000 shares are
to be issued over a period of five years to Edwin A. Taylor and William M.
Stedman as additional compensation under employment contracts.
The
net proceeds from the sale of 500,000 shares of class A stock are to be
used to develop the business of the corporation, to pay current obligations,
and to provide working capital.
Hubert G. Holmes of Detroit, is President
of the corporation.
Filed Aug. 7, 1936.
,
has filed a
American
Refrigerator Transit Co. (2-2385, Form A-2) of
St. Louis,
registration statement covering $2,800,000 of equipment
from Sept. 1, 1937, to 1951, inclusive.
The proceeds are to be applied to the purchase of new refrigerator cars.
D. O. Oaellet, of St. Louis, is President of the company.
Filed Au&. 10,
Mo., has filed a
series I due serially
1936.
were
filed for
11 issues under Rule 202,
from registration certain classes of offerings
not exceeding $100,000.
The act of filing does not indicate
that the exemption is available or that the Commission
,has made any finding to that effect.
A brief description
of these filings is given below:
class A common stock and
trust certificates
(2-1955, Form. A-l, a
which exempts
capital and surplus.
of the company.
Filed Aug. 6, 1936.
to
Chemical Co.
Fla., has filed a registration statement
value class A common capital stock, to
$10
7, 1936,
at
of
of
value common stock, all of which are
Mansul
Co. (2-2383, Form A-2) of Baltimore,
Md., has filed a registration statement covering 50,000 shares of
par
value capital stock to be offered to stockholders of record Sept.
on a share-for-share basis at $20 a share.
Warrants evidencing rights to
subscribe for the stock will be issued to
of New York, Inc. (2-2392, Form A-2)
registration statement covering 11,000 shares
presently held by C. E. Culpeper, President of the corporation.
Elder & Co., of New York City, is
the principal underwriter.
Filed Aug. 12, 1936.
Oakhurst Garden Apartments Corp. (2-2393, Form A-l) of Lynbrook,
N. Y., has filed a registration statement covering 3,000 amortization capital
shares of $100 par value each and 6,000 no par value amortization surplus
shares, to be offered in units consisting of one share of each at $105 a unit.
The remaining 3,000 amortization surplus shares are to be purchased by
the underwriter. Amortization Capital Corp. of New York City, at $5 a
share.
The proceeds from the sale of the share are to be applied to the
purchase of land and the erection of an apartment house, a dividend reserve
fund, organization expenses and advertising.
Clarence E. Janes, of Lyn¬
brook, is President of the corporation.
Filed Aug. 12, 1936.
Allied Annie Laurie Gold Mines, Inc. (2-2394, Form A-l) of Kimberly, Utah, has filed a registration statement covering 2,743,478 shares of
10 cent par value capital stock of which 1,693,478 shares are presently
outstanding.
The company is offering 1,050,000 shares of the stock being
registered at $1 a share.
The proceeds are to be used for the development
and equipment of mining property and for working capital.
Heald & Co.,
of New York City, is the principal underwriter.
Daniel A. Heald, of
New York City, is President of the company.
Filed Aug. 13, 1936.
Rio Grande Water Power Co. (2-2396, Form E-l) of New York City
has filed a registration statement covering $2,361,500 of 5% cumulative
income debenture bonds, 94,460 shares of $10 par value class A stock, and
9,446 shares of $1 par value class B stock, to be exchanged for $4,723,000
principal amount of outstanding 6% improvement bonds of Maverick
County (Tex.) Water Control and Improvement District No.
1. The
basis of exchange is a $500 5% cumulative income debenture bond, 20 shares
of class A stock and two shares of class B stock for each $1,000 principal
amount of 6% improvement bonds.
Filed Aug. 13, 1936.
Dividend Shares, Inc. (2-2397, Form A-l) of Jersey City, N. J., has
filed a registration statement covering 5,250,000 shares of 25-cent par value
capital stock.
The proceeds from the sale of the stock are to be used for
investment purposes.
Calvin Bullock, of New York City, is the principal
underwriter and also President of the corporation.
Filed Aug. 13, 1936.
no par
(2-2378, Form A-2) of Keene, N. H., has filed
a registration statement covering 8,000 shares of $12.50 par value common
stock to be offered at $55 a share.
The proceeds from the sale of the stock
are to be credited to capital and surplus.
Walter G. Perry, of Keene, is
President of the company.
Filed Aug. 1,1936.
"
common
stock, for general plant
machinery and equipment, for
The Coca-Cola Bottling Co.
New York City has filed a
Peerless Casualty Co.
*
Filel Aug. 11, 1936.
working capital and for other corporate purposes.
Cassatt & Co., Inc.,
of New York City, is the principal underwriter.
Ben Alexander, of Chicago,
is President of the corporation.
Filed Aug. 12, 1936.
gold bonds.
Proceeds from the exercise of the, warrants are to be
used for the redemption of the bonds being registered.
Proceeds from the
sale of the stock are to be used for working capital.
Sills, Troxell & Minton,
has filed a
the reduction of bank indebtedness.
Corp. (2-2391, Form A-2) of Chicago, III., has filed a regis¬
21,335 shares of $100 par value 5% cumulative
preferred stock series A convertible until Sept. 1, 1941; 42,670 shares of
no par value common stock to be reserved for conversion of the preferred;
common stock scrip to be issued in lieu of fractional shares; and subscription
warrants to be issued to common stockholders evidencing 266,689 rights
to purchase the preferred stock.
The warrants will entitle the common
stockholders to purchase at $103 a share, 8-100 of one share of preferred
stock for each share held.
Any share not taken by the common stock¬
holders will be offered to holders of the old preferred stock which is to be
called for redemption, and all sharas still remaining after these offerings
are to be offered publicly through underwriters at $103 a share.
The new
preferred stock is convertible into common at a basic conversion price of
$50 a share on or before Sept. 1, 1938, and at $66 2-3 a share thereafter and
until Sept. 1, 1941.
The net proceeds are to be used to reimburse the
fund
H. C. Gowran, of Two Rivers,
North Kansas City,
tration statement covering
(2-2377, Form A-l) of Two Rivers, Wis.,
Inc., of Chicago, is the underwriter.
(2-2390, Form A-2) of
Masonite
of the corporation.
pany's class A preferential participating stockholders of record August 19,
1936, on the basis of 4-10 of a share of common and 65-100 of a share
of class A stock for each share held, at a price of $10 a share.
This offer
President of the company.
10, 1936.
Co.
and 20,000 shares by Charles R. Cook. President of the company.
The
remaining 10,000 shares are owned by Charles R. Cook and are under
option, subject to certain conditions, to Lehman Brothers, of New York
City, one of the underwriters.
Stern Brothers & Co., of Kansas City, is
also named as an underwriter.
The net proceeds are to be applied by
a
will expire August 31, 1936.
be applied to the redemption
Barber
Cook Paint & Varnish Co.
registration statement covering $1,300,000 of first mortgage
5% sinking fund bonds, 39,383 Mi shares of $10 par value class A preferential
participating stock, 24,236 shares of $10 par value common stock, and
stock purchase warrants for an aggregate of 13,000 shares of class A and (or)
common stock.
Only $1,100,000 of the bonds are to be offered and the
company is extending the right (until Aug. 31, 1936) to the holders of its
outstanding first mortgage 6% sinking fund gold bonds, due April 1, 1941,
which it expects to redeem on October 1, 1936, at 1023^% and accrued
interest, to exchange the bonds held for new bonds.
Detachable warrants
calling for an aggregate of 11,000 shares of either class of stock on the basis
of one share for each $100 principal amount of the bonds are to be attached
to the new bonds.
The stock being registered is to be offered to the com¬
filed
H.
a
1936.
1936.
Hamilton Manufacturing Co.
W.
Mo., has filed a registration statement covering 60,000 shares of no par
value common stock of which 30,000 shares are to be offered by the company
the total are as follows:
RoxboroughKnitting Mills, Inc. (2-2376, Form A-l) of Philadelphia,
has filed a registration statement covering 75,484 shares of $3 par partici¬
pating preferred stock to be offered at $4 a share, 90,000 shares of $1 par
common stock reserved for conversion of the preferred, and 5,000 shares
of $1 par common stock to be donated by Glendon E. Robertson, Presi¬
dent and issued to the underwriter, Reichart, DeWitt & Co., Inc., of
New York City, as part of their compensation. 4 The proceeds from the
Filed July 31,
sinking
stock of which 10,000
Other issues included in
has
Los Angeles, Calif.,
covering $1,250,000 of 10-year
(2-2388, Form A-2) of Minneapolis, Minn., has
registration statement covering 61,960 shares of $1 par value common
shares are to be offered by the company, 24,160 are
to be offered by stockholders and the remaining 27,800 shares are to be
reserved for issuance to officers and employees, &c.
The net proceeds to
be received by the company are to be used for general corporate purposes.
N. C. Beim, of Minneapolis, is President of the company.
Filed Aug. 10,
'
A-2—, included in Release No. 966.)
Phillips Petroleum Co.—296,631 shares of no par value common
capital stock.
(See details on subsequent page.)
(Docket No. 2-2389,
Form A-2, included in Release No. 978.)
Louisville Gas & Electric Co.—$28,000,000 of first and refunding mort¬
gage bonds, 33^%. series due 1966.
(See details in V. 143, p. 1083.)
(Docket No. 2-2395, Form A-2, included in Release No. 980.)
used to finance the business
Filed Aug.
trustees.
filed
(Docket No. 2-2382, Form
sale of the stock are to be
Inc. (2-2386, Form A-2) of
registration statement
a
fund 5% debentures,
chase warrants, and
Commission on Aug. 19
additional registration statements
(Nos. 2376-2397, inclusive, and 1955, a refiling) under the
Securities Act.
The total involved is $83,009,832.33, of
Securities
filed
due Aug. 1, 1946, with attached common stock pur¬
516,178 shares of no par value common stock.
Of
the common stock being registered, 390,508 shares are presently outstanding,
62,500 shares are for issuance upon exercise of the warrants. 12,500 are
under option to the underwriters, and 50,670 shares are for issuance upon
exercise of conversion rights granted to holders of outstanding series A
preferred stock.
Each warrant is exercisable only as an entirety and
will entitle the owner to purchase 50 shares of common stock at the following
prices during the following periods: $5.50 a share for Aug. 1,1936, to Aug. 1.
1937; $6.50 a share from Aug. 2, 1937. to Aug. 1, 1939; $7.50 a share from
Aug. 2, 1939, to Aug. 1, 1941; $10 a share from Aug. 2, 1941, to Aug. 1,
1943, and $12.50 a share from Aug. 2, 1943., to Aug. 1, 1946.
Mitchum.
lully & Co., and Pacific Capital Corp., both of Los Angeles, the principal
underwriters, will tmderwrite $650,000 and $600,000 of the debentures
respectively.
G. S. McKenzie, of Beverly Hills, Calif., is President of
the corporation.
Filed August 10, 1936.
G. S. McKenzie, et al (2-2387, Form F-l) of Los Angeles, Calif., have
filed a registration statement covering the issuance of voting trust certifi¬
cates for 516,178 shares of no par value common stock of Creameries of
America, Inc.
A. G. Marcus and P. A. lvells are also named as voting
SECURITIES ACT
The
•
UTILITY—INDUSTRIAL—MISCELLANEOUS
REGISTRATION STATEMENTS UNDER
OF
FILING
.7
and InvestmentlNews
General Corporation
RAILROAD—PUBLIC
1936
Chronicle
Financial
1216
Contact
Publishing Corp.
Detroit
Compensating
Offering
H. Holmes,
No under¬
(File 3-3-716), Fort Lee, N. J.
20,000 shares of common stock of $2 par value at par.
F.
181 Main St., Fort Lee, N. J., is President of the corporation.
writer is named.
Axle
Corp.
(File
3-3-717)
Detroit,
Mich.
Offering 40,000 shares of common stock of $1 par value at $2.50 per share.
Sidney W. Noyes, 20 Belden Ave., Dobbs Ferry, N. Y., is President of
the corporation.
No underwriter is named.
John Orr Products, Inc. (File 3-3-718),
285 Madison Ave., New
Offering 650 shares of common stock of no-par value
John Orr Young, 285 Madison, New York City, is
the corporation.
No underwriter is named.
City.
,
share.
National American Underwriting Corp. (File
York
at $100 per
President of
3-3-719), 4750 Sheridan
Road, Chicago, 111.
Offering 9,000 shares of common stock of $5 par valu
per share.
H. G. Kemper, 25 Lake Place, Highland Park, 111.,.;
President of the corporation.
No underwriter is named.
at $8
Volume
Financial
143
Chronicle
1217
Allied Annie Laurie Gold Mines,
Inc.—Registers with SEC
See list given on first page of this department.
Specialists
All
in
Allied Stores Corp.—Debentures Offered—Lehman Bros.,
Kidder, Peabody & Co., Graham, Parsons & Co. and F. S.
Moseley & Co. on Aug. 18 offered at 100 (plus int. from
Aug. 1 to date of delivery) $4,500,000 4y2% debentures due
1951.
A prospectus dated Aug. 17 affords the following:
Rights and Scrip
McDonnell & Co
Dated Aug. 1, 1936; due Aug. 1, 1951.
Coupon debentures in denom.
Oi' $1,000 and
$500, registerabie as to principal.
As a sinking fund for
redemption of debentures of this series the corporation shall pay to the
m—u..JNew York Stock Exchange
Members|New
120
york Curb Exchange
BROADWAY,
TEL.
NEW YORK
RECTOR 2-7815
Pioneer Bridge
River Gold Syndicate (File 3-3-721), 1102 Excelsior
Toronto, Can.
Offering 5,000 units of $10 par value at par.
Smith, Toronto, Can., is named as Chairman and Managing
Director of the Syndicate.
The underwriter is A. D. Allen, 45 Exchange
St., Rochester, N. Y.
Life Bldg.,
William O.
Radium & Gold Mines, Ltd. (File 3-3-722), no address.
Offering
100,000 shares of $1 par value at par.
W. A. Murphy, 1726 13th Ave.,
Calgary, Alberta, Can., is President of the corporation.
No underwriter
is named.
WanapiteL Basin
(File 3-3-724), 511 National Bldg.,
Offering lOO.OOO shares of common
stock of $1 par value at par.
J. E. Huard, 130 Carlton St., Toronto,
Ont., Can., is President of the corporation.
No underwriter is named.
Mines,
Ltd.
85 Richmond St., West Toronto, Ont.
Vending Machines, Inc. (File 3-3-725), 14 Wellwood Ave., Toronto,
Can.
Offering 100,000 shares of common stock of $1 par value at par.
Ont., Can., is President of the
John Walton, 14 Wellwood Ave., Toronto,
No underwriter is named.
corporation.
Zechmar Solomit Co. (File 3-3-727), 900 Market St., Wilmington, Del.
Offering to brokers and security dealers 80.000 shares of class A 7 % cumu¬
lative preferred sfock of $1 par value and 20,000 shares of class B common
stock of $1 par value in units of four shares of class A and one share of class B
at $5 per unit.
John Zechentmayer, 2722 Spaulding. Long Beach, Calif.,
is President of the corporation.
No underwriter is named.
Industrial Power & Water Co. (File 3-3-728), 900 Market St., Wil¬
mington, Del.
Offering to brokers and security dealers 999 shares of
preferred stock of $100 par value at par.
L. O. Green, 813 South B St.,
Arkansas City, Kan., is President of the corporation.
No underwriter is
named...
Berhcolz Fuel Corp. (File 3-3-730), Bergholz, Ohio.
Offering
A stock of no par value
at the stated value
20,000
of $5.
Wright, 214 Buckingham Rd., Rocky River, Ohio, is President
of the corporation.
No underwriter is named.
shares of class
William M.
The following companies have
their registration statements:
Compo
trustees
been permitted to withdraw
(V. 141, p. 4090).
,
_
St. John Gold & Copper
The
last
previous list of registrations was given in
1062.
our
issue of Aug. 15, p.
Aero Supply
Mfg. Co.—Accumulated Dividend—
have declared
a dividend of $1<12K cents per share on
regular quarterly dividend of 37)4 cents
share ordinarily due at this time (or a total of $1.50 per share) on the
$1.50 cumulative class Astopk, no par value, both payable Oct. 1 to holders
of record Sept. 15.
Arrearages after the payment of the current dividend
will amount to $6.75 per share.—V. 142, p. 4326.
account of accumulations, and the
per
Agnew-Surpass Shoe Stores, Ltd. (& Subs.)—Earnings
Years Ended—
.
Total
—
income
Directors'
May 30, *36 May 31, '35
$170,230
$153,668
6,162
7,186
.
Net operating profit
Income from investments
—
Provision for depreciation
Provision for Government
taxes
fees
with
accrued
interest.
'
—
$176,392
29,948
25,134
$160,853
28,963
19,472
1,200
445
—
$120,863
Miscellaneous adjustments
ment store
units, offering for sale at retail such merchandise as is custo¬
marily carried by such stores, and operate under individual names.
In
practically all the stores certain departments,
for example the beauty
salons and the shoe
repairing and optical departments, are leased to out¬
side organizations on the Dasis of a
percentage of sales.
8ix subsidiaries of the
corporation own in fee all or substantially all the
premises occupied by certain operating department store subsidiaries.
A
wholly owned subsidiary, Allied Purcbasing Corp., supplies purchasing,
sales promotion ana otner services,
including the furnishing of suitable
space in
New York and Chicago for buyers and planning advertising
programs, to the operating department store subsidiaries. •
Tne corporation guarantees the usual trade
obligations of its operating
department store subsidiaries anu has from time to time guaranteed the
leases, bank loans and other obligations of certain of such subsidiaries.
No change in the general character of the business is now
contemplated;
except that it may become advisable for the corporation to take over
directly certain stores now operated by subsidiaries.
At tne end of the year 1930 the corporation owned all the common stocks
(except, in certain instances, directors' qulifying shares) of 22 corporations
operating 27 department stores, as well as all the outstanding trust certifi¬
cates of Andrews Real Estate Trust, which owns a
portion of the premises
occupied by Jordan Marsh Co., a subsidiary, in Boston.
The corporation
owned all the capital stock of Hahn
Department Stores Purchasing
Corporation.
On May 29, 1935, the name of the corporation was
changed from Hahn
Department Stores, Inc., to Allied Stores Corp., and on Aug. 3, 1935, the
of Hahn Department Stores
Purchasing Corp. was changed to Allied
Purchasing Corp.
name
in 1934 the corporation purchased all the
capital stock of Smith-Kasson,
Inc., which operates a store in Cincinnati, Ohio, and all the common stock
of Pomeroy's, Inc., which operates
department stores in Reading, Harrisburg, Wilkes-Barre and Pottsville, Pa., and which owns all the capital stock
Realty Co., which in turn owns substantially all the department
premises occupied by Pomeroy's, Inc.
May 6, 1935, the stockholders of the corporation at a special meeting
approved a plan of recapitalization, whereby the corporation reclassified
On
its
outstanding
% convertible pref. stock into 5% pref. stock, and issued
15-year 4H % debenture bonds, due April 1, 1950, and 420,664 shares of
common stock as part of a
special dividend to the holders of the new 5%
pref. stock.
In September 1935, the corporation organized and
acquired
all the capital stock of Allied Credit
Corp., which engaged until April 1936,
in financing instalment sales of household
equipment.
its
its
As of Nov. 30, 1935, Pacific Retail
btores, Inc. (formerly Bon Marche), a
subsidiary of the corporation, was liquidated and the corporation acquired
and now operates a department store in
Seattle, Wash., under the name of
Tne Bon Marche.
In
February
$111,218
10,129
1,752
Dr712
1936,
the corporation
purchased
Net surplus for year...
Dividends on preferred stock
on
on com.
stock
common
sh.
$120,151
70,000
48,000
$0.64
stk. (79,524 shs.)
no par..
May 30, '36 May 31, '35
$130,250
$77,152
74,094
127,590
Cash
Govt,
x
bonds
70,000
32,000
$0.53
Accts. & bills re¬
ceivable, &c
86,808
Inventories
Life
&
fire
1,033,150
May 30, '36 May 31, '35
$102,404
$74,258
38,006
Prov. for taxes.._
36,853
30,926
Fire insur. reserve
25,818
25,818
Dividend declared
16,383
16,696
Minority
9,314
8,716
revenue
7,649
8,512
Land, plant, &c.
21,961
401,431
15,000
charges40,560
interests
Preferred stock...
960
960
22,132
399,225
15,000
deposits
Prepaid expenses &
accrued
Loans
y
93,552
895,748
insur.
Liabilities—
Accounts payable.
Accrued
Patents
Total
z
...$1,726,561 $1,700,725
stock.
936,200
952,900
264,871
264,871
302,511
Common
Surplus
296,291
Va.
In May 1936, the corporation purchased all the
capital stock of Polsky
Realty Co., which owns the land and building in Akron, Ohio, occupied
by A. Polsky Co., a subsidiary of the corporation.
Earnings for Fiscal Year Ended Jan. 31
1934
Net sales (incl. leased departments)
a Consolidated net profit
on
funded deot
and subsidiaries)
Prov. for divs. accrued
of
1935
on
pref. stocks
subsidiary
'
-..$1,726,561
has
$1,700,725
Ctfs.
applied to the Interstate Commerce Commission for
authority to issue $30,000 of 6% trustee's certificates or notes in connection
with the purchase of two gasoline electric motor cars.—V. 142,
p. 4010.
Alleghany Corp. —Earnings—
y
Divs. & int. received.
Interest paid
General expenses
1936—3 Mos.—1935
1936—6 Mos.—1935
$950,966
948,043
47,470
$974,545
967,556
46,712
$44,547
$39,723
x
Net loss..
x
Exclusive of results from sale of securities,
y
$1,905,997
1,901,945
83,255
$1,945,834
1,936,593
152,480
$79,203
$143,239
After deducting reserves
in respect of interest on $11,152,000 Missouri Pacific RR.
20-year 5H%
convertible gold bonds, and on $14,245,000 Terminal Shares,
Inc., five-
year
53^ % notes.
Holders of $2,295,000
5% bonds have withheld their assent to the com¬
pany's plan of reorganization, it was indicated in data made public by the
New York Stock Exchange Aug.
13.
The statement showed that this
amount of the bonds had not been stamped as having been placed in assent
to the plan, compared with $22,092,000 of the bonds which
have been
stamped.—VY 142, p. 4010.
Consolidated net
profit
$24,745
Period End.
July 31—
int.
for sub. pref.
divs., but before Fed.
Prof,
&
74,903
260,000
$1,127,331
$1,581,759
1936—3 Mos.—1935
1936—12 Mos.—1935
after deprec.,
prov.
inc.
&
undistributed
profits, taxes
Exclusive of
a
x$314,377 loss$422,959
$3,001,556
$1,453,861
profit of $125,300 on the repurchase in May, 1936, of
a subsidiary.
Capitalization
Total
Alabama Tennessee & Northern RR.—Trustees1
Period End. June 30—•
31,391
155,000
funded indebtedness of
x After
reserve for bad debts of $10,196 in
1936 and $9,786 in 1935.
After reserve for depreciation of $225,365 in 1936 and $196,137 in 1935.
z Issued
80,000 shares (no par) less 476 shares held by subsidiary com¬
pany.—V. 143, p. 261; V. 141, p. 1082.
trustee
1936
_$70,828,130 $82,075,720 $89,935,583
413,296
1,762,960
2,556,338
(corporation
j
3^8,551
449,238
b639,675
_
a Before interest on funded
debt, Federal income tax and dividends on
preferred stocks of subsidiary in hands of public,
b Includes interest of
$94,805 from May 29, 1935, to Jan. 31, 1936, on 15-year 4H% debenture
bonds due 1950, dated April 1, 1935, of the corporation.
Annual interest
requirements on the debenture bonds due 1950 outstanding as of Jan. 31,
1936, were $134,181, and on the $4,500,000 4H% debentures due 1951
being offered are $202,500.
x
y
The
capital stock of
burg,
$123,099
Consolidated Balance Sheet
Assets-
all the
C. M. Guggenheimer Corp., which operates
a,department store in Lynch¬
Provision for Fed. income tax, (est.).
Dividends
holding
engaged directly in the operation of the stores ecxept to the extent that it
may exercise control as the holder of such stocks of the respective sub¬
sidiaries, and except for the direct operation of a store known as The Bon
Marche, in Seattle, Wash., formerly operated by a subsidiary.
The stores
controlled by the corporation, with a few exceptions, are complete depart¬
Interest
Net earnings for year
Profit from sale of investments
Earns, per
a
store
Aug. 20 declared a dividend of 90 cents per snare on the
common stock, no par value, payable Sept. 30 to holders of record Sept. 21.
This compares with 45 cents paid in each of the three preceding quarters
and quarterly dividends of 30 cents per share in addition to extras of 15
cents per share paid for seven quarters prior thereto.—V. 143, P. 1063.
on
The directors
case
History and Business—The corporation is almost exclusively
company, owning all the common stocks (except directors' qualifying shares)
of 24 corporations
operating 32 department stores.
The corporation is not
of Pomeroy
Abraham & Straus, Inc.— To Double Dividend—
The directors
each
also
Machinery Corp.- Samuel Mundheim et al. voting
Filed Dec. 14, 1935.
Co. (V. 143, p. 906).
Filed July 20, 1936.
Shoe
trustee on or before
May 20 of each year commencing 1937 a sum in cash
(or in debentures at the sinking fund redemption price in effect on the next
succeeding Aug. 1) equal to the sinking fund redemption price on the next
succeeding Aug. 1 of 3 1-3% of the total principal amount of debentures of
this series which shall ever have been authenticated, subject to increase in
certain contingencies.
Debentures are redeemable at 105% prior to Aug. 1,
1938, with successive reductions of H of 1% on Aug. 1, 1938, and on each
Aug. 1 thereafter to and incl. Aug. 1, 1947, and at their principal amount on
Aug. i, 1947, or thereafter, in each case with accrued interest, except that
for sinking fund, debentures are redeemable at
101% prior to Aug. 1,
1946, with reductions of ^ of 1% on Aug. 1, 1946, and Aug. 1, 1947, in
,
as
of Jan. 31, 1936
Authorized
15-year 4
1950
Preferred stock (par $100)
5% preferred stock, cumulative
Common stock (no par)
Not
Outstanding
% debenture bonds, due April 1,
$3,337,000
c600,000shs
c2,500,000 shs.
a$2,981,790
b209,332 shs.
dl,778,153 shs#
including $173,190 bonds held in treasury, which, on
together with $6,145 bonds acquired subsequent to Jan.
were applied as part of the sinking fund
payment of $237,263 due
on April 15.
b Not including 1,000 shares held in
treasury.
Since Jan.
a
1936,
April 15^
31, 1936
and made
31, 1936,
2,000 additional shares of pref. stock have been purchased in
anticipation
of sinking fund requirements.
c 8,895 shares of pref. and 46,250 shares of
common were reserved as of
May 6,1935, for exchange for 9,250 shares of third pref. stock of Pomeroy's
then outstanding.
Since May 6, 1935, the corporation has acquired
1,440 shares of third pref. stock, so that at Aug. 5, 1936, the number of
shares of such stock exchangeable for pref. stock or
common stock of the
corporation was 7,810.
d Since Jan. 31, 1936, Allied
Purchasing Corp., a subsidiary, has pur¬
chased 15,000 shares of the common stock of the
corporation.
These
shares are part of 20,000 shares authorized to be
purchased.
The purpose
pf such purchase was to permit the granting to certain executives and
employees of the corporation or Allied Purchasing Corp., as additional
compensation, of options to purchase such stock at the
average cost per
share to Allied Purchasing Corp.
No such options have as yet been granted
Inc.
The
corporation has also guaranteed the payment of dividends to
hept. 20
1937, at the rate of $5 per share per annum on the third
pref. stock (6%
cumulative, par $100) of Pomeroy's, Inc., which was
outstanding as of
Financial
1218
Jan. 31, 1936. in the amount of
the corporation as of that date
by the corporation).
On May 27,1936, in order to obtain funds for the acquisition of the capital
stock of Polsky Realty Co., corporation executed and delivered to four banks
its promissory notes aggregating $1,500,000,
evidencing loans in that
„
subject to repayment, in whole or in part,
at any time, without premium.
Proceeds—Net proceeds will amount to approximately $4,317,946, of
which $1,500,000 (exclusive of interest) will be applied to the pre-payment
of the corporation's notes which were issued in order to obtain funds largely
used for the acquisition of all the capital stock of Polsky Realty Co.
The
balance of the proceeds, amounting to approximately $2,800,000, will be
retained by the corporation for its general corporate purposes and to enable
the corporation to increase its investments in existing subsidiaries, and to
take advantage of any opportunities that may be presented to acquire
additional subsidiaries operating retail department stores or to acquire and
All such
amount.
notes are
equip, directly or through subsidiaries, properties suitable for use as retail
department stores.
Mention is made of the fact that the corporation is
engaged in negotiations looking toward the formation of a new subsidiary
which would* lease retail department store premises on Euclid Ave. in
Cleveland, Ohio.
If these negotiations are consummated it is contemplated
that the corporation will make initial investments in or advances to such
subsidiary arrgegating approximately $600,000.
Underwriters—The underwriters have severally agreed to purchase the
$4,500,000 debentures as follows:
Lehman Brothers, New
-
York
Hallgarten & Co., New York
York
York
«.•_
Speyer & Co., New York
—V. 143, P.
after
profit
Net
x$49,468
Federal income taxes
■
Earnings per share on capital
Surtax on
x
$0.49
stock—
-V.
mentioned
undistributed profits not
$67,728
$0.68
$34,999
$0.35
Chemical
19£5,
1936
Years End. June 30—
$3,168,564
x786,274
$2,754,529
795,188
Gross profit from oper. _
Gen. oper. & admin, exp.
150,734
$2,185,914
79,509
Co.
&c
Prof, from operation.
profit
Dividends paid
Earns, per share
x Includes additional
Subs.)
—-
1934
1933
$1,176,557
716,800
299,916
$1,629,285
$159,841
100,400
567,569
120,615
531,551
x
x
x
leather
—
(incl. $118/736 deprec. on operating
profit on sales
<
—
Selling, general & administrative expenses
$4,249,688
1,635,284
$4,072,160
1,607,799
Profit before other income
Other charges
Net
$2,356,264
626,016
Recapitalization expenses
Divs. paid on 6% cumulative convertible
47,838
147,006
...—\
preferred stock..
1936--!,-—
$1,535,403
stock ($1 par)..
$0.34
x Resulting
from sale, under officers' and employees' purchase plan.
&c., of preferred and common stocks held in treasury—representing partial
recovery of write-downs to market charged to profit and loss in prior years. •
earned surplus, June 30,
Earnings per share on 515,000 shares common
Surplus for the Year Ended June 30, 1936
Consolidated Statement of Capital
disc, on 30,000 shs. of 7%
Balance, June 30, 1935, representing
$908,636
cumulative preferred stock purchased and retired
Decrease in amt. of pref. & com. stks. issued and to
be issued
100,000 shs. of 6% cum.
conv. pref. stock
(par $50) and 515,000 shs. of com. stk.
(par $1), in exchange for 100,000 shs. of 7% cum. pref. stock
(par $100) and 115,000 shs. of com. stk
(no par) and having
an assigned value of $10 per sh., in accordance with resolutions
of the board of directors approved by the stkhdrs. on Oct. 2, *35
1933
5,635,000?V
$6,543,636
_
incl. trade-marks, good¬
charged to
&c., chgd. off, $7,169,652; less proportion
surplus,
$626,016
will,
$4,421,630
1,693,390
„
1
207,221
1,039,179
1,142,623
5,201,960
5,080,572
3,482,959
1,062,762
5,338,569
2,801,479
5,092,637
.Liabilities—
1936
Capital stock
J
y$8,549,360
Capital & earned surplus
9,443,500
Accts. pay. & accr. liabil
825,607
Res. for contingencies._
1,676,346
,
1935
y$8,969,560
9,203,851
749,284
595,650
84,004
Res. for self-insurance..
Deferred credits.-
826,388
4,461,251
2,874,687
4,857,801
.
-1
406,352
Capital surplus June 30, 1936
6,543,636
1,611,972
547,160
37,774
1934
$9,328,240
8,220,158
581,013
1,594,728
1933
$12,628,040
6,779,688
467,951
42,505
478,918
2,014,003
347,060
21,606
a
1935 held in treasury for
retirement.—V. 142, p. 2813.
Co., Inc.— To Reclassify Stock—
The company has called a special common stockholders' meeting for
Sept. 4 to authorize reclassification of 140,000 shares of authorized but un¬
American Chain
preferred stock, increase in the authorized common stock to 500,000
shares from 357,143 shares, and elimination from authorized capital stock
of the corporation of the preferred stock not reclassified when all the out¬
standing shares of existing 7 % preferred have been purchased or otherwise
issued
retired
conjunction with a proposed new plan dealing with the
dividends are in arrears and involving a
Final details of the new plan have not
yet been announced.—V. 143, p. 1064.
,
1936
1935
Liabilities—
$
S
75,747
10.721,581
362,150
490,719
goodwill,
483,853
3,704,926
2,446,755
&c... 3,455,814
drafts
Notes,
rec.,
&
less
Inventories
Fed.
stk.
43,509
50,935
7,849,613
Total—
14,150,472
'87,107
84,608
<fc
109,372
39,736
1,535,403
Earned surplus
charges.
cap.
gm
138,845
1,880,385
Capital surplus
41,688
investments
Deferred
for
1,150,000
50,992
.
Accrued taxes, &c.
12,557
57,692
52,156
capital stock...
Other
500,000
payable
Accounts payable
Prov.
Am. Hide & Leath.
$
10,000,000
6% cum. conv. pf.
stk. ($50 par)., 5,000,000
b Common stock.
515,000
Notes
reserve
1935
$
Cum. 7% pf. stk--
Land,bldgs.,eq.f
taxes.
908,636
7,849,613 14,150,472
Total
depreciation,
b Represented by shares of $1 par in 1936 and
par shares in 1935.
Note—The balance sheet for June 30, 1936, gives effect to the recapitali¬
zation plan which was approved by the stockholders on Oct. 2, 1935,
and which became effective Oct. 11, 1935.—V. 142, p. 2982.
After
a
$22,269,318
reserves,
y Represented by 213,734 shares in 1936
after deducting 10,505 shares in 1936 and 8,967 shares
-
Comparative Balance Sheet June 30
1936
Assets—
Cash
207,004
$21,174,467 $21,119,603 $20,234,596
1935,
$475,879
1,880,385
-
;.....
1935--
Propor. of reduction of book values of certain intangible assets,
incl. trade-marks, goodwill, &c., not absorbed by capital surp.
$21,174,467 $21,119,603 $20,234,596 $22,269,318
After deducting
$401,974
73,905
profit for the year..
accts.
x
31,200
78,088
before extraordinary credit,
Book val. of certain intangible assets,
$4,081,522
1,663,831
708,617
Brands, pats.& good-will
Unexpired ins.,taxes, &c
in
,115
22,147
& other charges-
—
Federal income taxes..
profit
Total
1934
1,086,106
645,126
1
157,776
receivable
Inventories
and 224,239 in
$931,532
442,417
— ..
Extraordinary credit
x
::::::
"$449
„
1,158,681
5,881,750
2,520,904
5,130,269
Cash
Total liabilities
5,018,685
Gross
earned
equipment.
Phosphate rock depos.
Prop, not required for
operating purposes—,
Purch.money oblig.&c.
Total assets
r'--rv
plants)
Cost of sales
executives under profit
Land, bldg., mach. &
Accts. & notes
the Year Ended June 30, 1936
Consolidated Income Account for
Net sales of
$977,119 loss$508,128
1935
1936
Assets—
Leather Co.—Earnings—
Subsidiary Company]
[Including United States
resulting from authorization to issue
sharing plan amounting to $56,900.
Consolidated Balance Sheet June 30
x
7,412,517
15,014,571 12,969,126
142, p. 614.
American Hide &
105,000
$1,427,604
661,524
• 449,559
$4.71
$6.37
compensation to officers and
$1,005,814
Net
(•&
774,434
259,859
573,801
1,000,000
142, p. 4165.
$2,663,579
196,376
$1,808,608
Res. for self-insurance._
48,490
Plant depr. & mines depl
626,304
Prov. for Fed. inc. taxes
128,000
Prov. for loss on sales,
12,969,126
15,014,571
Total
—V.
Consolidated
Agricultural
American
1,000,000
9,739,959
Total earned surplus
1934
1935
1936
and
177,030
200,000
200,000
.
surplus
Total..
Consolidated earned surplus June 30,
30—
175,140
other
capital
Net
Provision for
•
depreciation
all
Res. for dividends
Industries, Inc.- -Earnings—
Aluminum
6 Months Ended June
689,224
200,000
for
Res.
639,099
Cash
Net
'
1063.
739,575
of
adjustment
for taxes
Reserve
Other income
250,000
250,000
200,000
300.000
-
Wertheim & Co., New
3,290,356
and expenses...
708,009
250,000
Co., New York.;...
Losses in process
deposit &
on
3,159,897
Unearned prems._
claims
700,000
Bear, Stearns & Co., New
Shields & Co., New
$
$
stocks.13,549,001 11,499,910
Prems. in course of
718,253
783,453
collection.
39,307
46,664
Interest accrued..
500,000
500,000
—
Liabilities—
A.sscitS''
in office
1935
1936
1935
Bonds and
Cash
-Bal. Sheet June 30
Eagle Fire Insurance Co.
1936
$1,550,000
York
Kidder, Pea body & Co., New York.
•Graham, Parsons & Co., New York
F. S. Moseley &
American
9,250 shares (.including 500 shares owned by
and 940 shares purchased on Aug. 4, 1936,
1936
22
Aug.
Chronicle
115,000
■
no
American Public Service Co
Operation....
Power purchased
(& Subs.)—Earningsal935
1936—3 Mos
Period End. June 30—
Total operating revenues
$1,190,478
411,678
$1 ,123,433
395,855
19,587
62,941
149,354
88,909
12,518
...
Maintenance
69,546
148,565
Prov. for retirement
b92,721
Taxes
1936—6 Mos.—al935
$2,236,072
$2,074,016
785,255
747,634
22,409
37,814
126,358
108,146
296,432
298,731
178,594
168,883
These steps are in
present preferred stock on which
new convertible preferred stock.
Net operating income.
Other income (net)
American Cigar Co.—Stock Dividend—declared a dividend of l-40th of a share of common
B stock of American Tobacco Co. for each share of American Cigar com¬
mon held,
in lieu of a cash dividend.
This payment will be made dn
Sept. 15 to holders of record Sept. 2.
A similar payment was made on
June 15 and on March 16 last.
On Dec. 27, 1935, a dividend of 11-40 of a
share of common B stock of American Tobacco Co. was given for each share
of American Cigar common held.
The company on Dec. 16, 1935, paid a
stock dividend of 1-20 of a share of common B stock of American Tobacco
Co. for each share of American Cigar common held, and a quarterly cash
dividend of $3 per share on the common stock, par $100.
Previously the
company had distributed regular dividends of $2 per share each three
months from June 15, 1932, to Sept. 16, 1935, inclusive.
In addition an
extra dividend of $2 per share was paid on Dec. 15, 1934.—V. 142, p. 3495.
Funded debt interest
'American Cities Power & Light Corp.-—Listing—
Exchange has approved the listing of 150,000 shares
optional dividend series of 1936, $25 par, with non-de¬
tachable stock purchase warrants.
The Exchange will also list an aggre¬
gate of 825,000 additional shares of class B stock, $1 par, and 150,000 shares
of class A stock, optional dividend series of 1936, $25 par, without stock
purchase warrants, upon notice of issuance.—V. 143, p. 907.
!>
W The New York Curb
of class A stock,
American
P* 6 Mos. End.
Cyanamid Co. (& Subs.)—Earnings1936
$3,823,083
$3,291,189
316,219
$2,773,972
300,779
,001,257
$3,607,408
1,038,489
595,611
199,926
1,074,751
920,557
592,589
195,289
250,236
,147,038
384,773
$4,207,856
Total income
Deprec'n & depletion—
Research & devel. exp..
Interest
Federal income tax
Minority
Net
interest
is. of common
1,133,014
'
724,099
206,064
392,123
44,553
$1,708,003
stock—
2,520,368
income-:.......
1933
1934
Other income
230,276
49,426
$1,493,680
2,520,373
145,781
49,934
818,364
580,265
135,870
47,272
42,000
$1,066,146
2,520,373
$523,267
2,470,123
$0.68
.
$0.59
$0.42
$0.21"
Note—No mention was made of any provision for Federal surtax on
idistribute4 profits.—V. 142, p. 3330.
arnings per share..—
$842,294
590,934
14,430
$719,482
605,717
14,512
6,990
Amortization of debt, dis
20,612
Divs. accrued at rate
41,607
24,713
$78,368
$195,321
$56,537
37,407
Balance
21,305
$138,209
count & expense
37,474
74,814
74,949
37,369
74,814
74,844
$3,524
$45,693
loss$93,255
cur¬
rently paid on pref .stk.
of sub.,
West Texas
Utilities Co., in hands
of public (c) (reduced
to one-half cumulative
rate
July 1, 1933)
.
Divs. suspended on pref.
stk. of sub.. West Tex.
Utilities Co., in hands
of
public
one-half
(reduced
cumul.
to1
Balance
before
unpaid divs.
on
•>
g
rate1
July 1, 1933) .d
37,407
.
cum.
pref.
stk. of Am. P. S. Co.
$63,395
Adjustments, made subsequent to June 30, 1935, but applicable to
period beginning Jan. 1, 1935, have been given effect to in these columns,
b No provision has been made for Federal surtax on undistributed profits,
c Exclusive
of 23,047 shares owned by American Public Service
Co.
Total unpaid cumulative dividends on preferred stock of West Texas
Utilities Co. in hands of the public amount to $448,844 at June 30, 1936.
a No provision has been made on the books of American
Public Service
a
1935
June 30—
Oper. profit after exps__
$712,806
6,675
7,411
$458,850 '
293,038
General interest
$827,022
15,272
$409,286
302,200
3.400
: Gross income
The directors have
$406,785
2,500
$455,449
Co.
for the deductions made in this statement for suspended dividends on
preferred stock of West Texas Utilities Co.—V. 142,
p.
4012.
American Refrigerator Transit Co.—Registers with
See list given on first page of this department.—Y. 136, p. 2801.
American Safety Razor
SEC
Corp.—Listing—
The New York Stock Exchange has authorized the listing of 524,400
shares of capital stock (par $18.50), in exchange for shares without par
value, now outstanding and listed, upon official notice
of issuance.
Volume
Financial
143
Chronicle
The
corporation has presently issued and outstanding 200,000 shares
(no par), of which 200,000 such shares are listed.
The stockholders have voted to decrease the number of such issued shares
without par value to 174,800 such shares, by the retirement and cancella¬
tion of 25,200 shares held in
treasury and concurrently, to change the
capital stock so that thereafter the corporation will be authorized to issue
600,000 shares (par $18.50), of which 524,400 such shares will be issued
and outstanding.
The 524,400 issued shares (par $18.50), will be ex¬
changed for the 174,800 shares (no par) now outstanding on the basis of
three par value shares for one no par value share.—V. 143, p. 1065.
American
Machine
&
Foundry
The
action of the creditors and bondholders confirmed the
temporary
appointment of Messrs. Dumaine and Carney, and added Mr. Straw.
Liquidation of the company recently was ordered by Federal Judge George
C.
1935
$
Fixed assets
1 ,890,876
_
Go'dwill, pats., &c.
Marketable
$
Liabilities—
1,915,925
1
x
1935
'1936
-
$
Common stock..
Taxes pay. accrued
43,281
582,806
176,012
197,716
Earned
Stock, officers and
employees
238,581
20,532
Special reserves.458,779
trolled
con¬
11 ,358,993
cos
Cash
865,260
Earnings for 3 Months Ended June 30, 1936
11,273,994
854,811
Revenue from sale of gold and silver bullion
Revenue from sale of quicksilver
Revenue from other sources
Accounts, notes &
578,228
,242,846
Inventories
Accts.
90,473
588,503
Total revenue
Less operating costs
from
rec.
affiliated
co
Notes & accts.
collectible within
one year
75,387
51,548
56,853
—
29,847
Total
Represented by 1,000,000 shares, no par value.
earnings for the 6 months ended June 30
p. 1064.
Su
CtS
1935
Real estate
Liabilities—
9,254,312
ed profits
collection
1,598,518
2,344,843
Cash.
1,545,040
1,840,023
Res.
Reinsurance & oth.
127,652
54,781
Accrued int.,
195,846
62,175
Res.
&c.,
for
investment
Interest
Amortization
5,542,387
Federal income tax
;
Federal capital stock tax,
&C—_;
'
Pennsylvania inc. & capital stock tax.
Flood loss
1,575,537
Res.
:
for
150,000
374,997
_t
oper.
Water
Works & Electric Co.,
Inc.-
y
■Weekly
Wk. End.—
103^
1936
July 25--- 47,181,000
Aug.
1--- 46,759,000
Aug.
8--- 46,707,000
Aug. 15--- 47,032,000
$1.15
Armstrong Cork Co. of Portugal, a domextic corporation,
Includes Armstrong Cork Co. of Portugal,
z No provision has been
made for surtax
38,145,000
36,622,000
37,243,000
38,696,000
1Q34
1Q33
32,758,000
31,950,000
31,136,000
31,342,000
Consolidated Balance Sheet June 30
1936
36,946,000
34,675,000
25,862,000
24,466,000
23,958,000
24,000,000
35,394,000
36,370,000
•
Arizona Edison
Co., Inc.—Earnings—
Period End. June 30—
1936—6 Mos.—xl935
Total oper. revenue
$656,022
Operation
361,838
...
Maintenance
55,403
86,541
"
Taxes..
—_
Retire, appropriation
.
Net oper. revenue
Other revenue....
12,666
interest-_
deductions
$42,065
9,151
$82,902
1st mtge. bonds.
$1,292,012
714,315
87,353
164,750
161,501
$1,162,824
658,198
72,496
162,639
145,353
$51,217
68,994
3,908
„
-
„
_
«
$164,092
$124,136
19,471
21,995
$186,087
137,989
7,618
'
29
$143,607
$9,968
accrued.
or
Misc. accts.
$8,567,384
2,504
Investments
bonds at cost..,
Cash
Funded
Bal.
of
x$524,964
debti
5,178,900
price of elec.
pay.
26,546
_
—
Ice coupon books
in install..
8,696
outstanding
28,927
1,720
9,719
Accounts payable
181,190
Accrued int.
(less res.)
Materials & supplies
88,259
81,428
prepayments
15,167
18,413
Taxes
14,223
Other
Accts. & notes rec.
Unamortized rate expense.
Other deferred items
Salt
Water Users'
—
Assn
on
1st mtge. bds.
Other int. (chiefly consumers'
240,895
578,945
482,611
15-yr..4% debs... 8,700,000
60,504
936,006
10-year convertible
312,791
389,107
cap. stk. & corp.
loan taxes
expenses.
ture bonds
to
wholly-owned
foreign subs
4,665,472
Other investments 1,167,229
Miscell.
4,620,965
1,714,711
17,030,083 17,373,945
accrued
liabilities
Customers' & other deposits.
Contribs. for extensions
Earned
surplus
of income bonds
$9,236,0131
8,330
71,220
'
3,306
3,201,548
102,527
5,071
36,888
Total
54,193
reserves..
493,268
Voting
warrants
Amoskeag Mfg. Co.—Trustees Elected to Liquidate Co.—
bondholders of the company on Aug. 14 elected three
of whom had been previously appointed by the court to
serve temporarily, to liquidate the company.
The trustees,
Frederic O. Dumaine Sr., Treasurer of the company:
Joseph P. Carney, New England Manager of the Reconstruction Finance
Corporation and J. Parker Straw, former superintendent of the company's
Creditors
trustees,
and
two
12,752,000
391,957
unempl. benefits
y
Capital stock
300,000
7,623,465
7,623,465
18,481,901
9,208,029
_.
18,481,901
7,700,431
Paid-in and capital
95,608
1,004,948
106,226
339,809
1
1
_
Goodwill
surplus
Earned surplus.
.
47,350,544 48,755,2491
Total
...47,350,544 48,755,249
x After reserve for
depreciation of $13,398,150 in 1936 ($12,679,712 in
1935), and less reserve for revaluations effected as of Jan. 1, 1933 of $5,230,089 in 1936 and $5,480,513 in 1935.
y Represented by 1,209.124 no
par shares.—V. 143, p. 419.
Corp.—Earnings—
Income Account for 6 Months Ended June 30,1936
profit
on
sales, less discounts and bad debts
$191,755
142,632
20,506
19,775
Expenses
Depreciation
Adjustment of inventories to market value;
Operating profit.
$8,842
31,744
Idle plant expense..
$22,902
37,069
■
______
—
—
Profit before Federal, State and other taxes
—V.
143,
P.
$14,167
909.
Associated Electric Co.
(& Subs.)—Earnings—
12 Months Ended June 30—
1936
Total operating revenues
expenses.
Maintenance
Provision
for retirements
Federal income taxes
______
Other taxes
Operating income
(net).______
$5,929,366
584,735
Other income
Gross
1935
$20,979,275 $20,176,481
10,168,488
8,792,818
1,979,375
1,590,270
1,213,780
1,308,966
398,970
82,071
1,289,293
1,111,914
___
income
i,514.102
$7,290,438
207,373
$7,497,81
Deductions from Income—
$9,236,013
trust certificates for 104,992.94 shares.
(In addition there
outstanding entitling the holders to purchase voting trust
certificates for 5,079)^ shares).—V. 143, p. 575.
x
are
252,465
Res. for wage earns
Surp. arising from retirement
Total
,
5% gold deben¬
Invest, in and adv.
patents.
Deb. disc. & exp_.
515,887
income tax
employ's,
partly secured..
Prop., pl't & eq.
Paid-up licenses &
34,985
Prov. for State inc.
Provision for Fed'l
Operating
deposits)
(other than Fed. inc.)
Reserves
River Valley
7,753,331
Loss
purch.
dist. sys.,
Reacquired 2d mtge. income
168,128
216,066
accts.rec.,
x
1,464,911
53,133
Due to for'n subs
8,165,449
272,327
100,419
non-current
Prepaid
1,377,254
5%
10,770,156
Inventories...
Loans to
on
204,311
152,299
rec
Other income—
Liabilities—<
Capital stock
(incl.
accrued expenses
gold deb. bonds
Due from for. Bubs.
Gross
Balance Sheet June 30, 1936
equip,
Accrued int.
nicipal securities 5,898,404
Artloom
$40,449
No Federal income tax has been estimated
Assets"*"
Prop., plant &
intangibles)
3,289,166
mu¬
29
x Operating figures for the period of receivership Which ended June 26,
1935, are adjusted to make comparison as reasonably accurate as possible.
Note—The fixed semi-annual sinking fund of $25,000 has been met as
of May 1, 1936, by deppsit of the requisite amount of 2d mtge. income
bonds, and suffident bonds for the Nov. 1, 1936, payment have already
acquired.
3,911,993
accts. rec'ble__
1
Balance.
Accts. payable and
Customers' notes &
U. S. Govt. &
1935
$
3,114,841
Total.
$70,236
Gross income
Miscellaneous
82,002
1936—12 Mos— x 1935
$588,085
348,371
40,536
83,601
73,510
1936
Liabilities—
1,860,678
Notes &
output for the month of July totaled 205,427,177 kilowatt
hours, against 161,503,878 kilowatt hours for the corresponding month of
1935, an increase of 27%.
' >
For the seven months ended July 31, 1936 power output totaled 1,355,150,126 kilowatt; hours, as against 1,170,387,160 kilowatt hours for the
same period last year, an increase of 16%.—V. 143, p. 1065.
$
"
1935
$
Cash
1Q39
July Power Output—
Due from
undistributed income.
on
Assets—
The power
been
$1,401,087
$1.26
,
Output of electric energy for the week ended Aug. 15 totaled 47,032,an increase of 21.5% over the output of 38,696,000 kwh. for the
corresponding period of 1935.
Comparative table of weekly output of electric energy for the last five
years follows:
Other
$1,221,003
$1.38
•
Excludes
OOOkwh.,
on
$769,544
30,699
1,209,124 shares
capital stock (no par)
Output—
Int.
:$1,401,087
.
Earns, per share on
25,328,145 22,829,204
x
American
$1,523,296
302,293
150,000
Dividends.
3496.'
-V. 142, p.
$1,543,351
ldss20,055
:$1,370,388
85,159
gain.
Surplus.
Total
$1,591,241
200,000
z$l ,676,400
906,856
Foreign subs.
deprec.,
Divs. pay.—July 1
...25,328,145 22,829,204
502,210
41,621
318,800
34,4121
124,363
150,000
75,000
919,681
250,000
_
.
y
1,019,538
home of fice bldg.
Total
$2,496,708
461,075
53,542
321,425
90,278
37,023
180,000
42,068
167,042
279,000
188,082
106,493
3,200,949
139,800
3,650,851
taxes
$2,789,757
567,007
on
4,555,692
450,000
3,852,909
■'
$2,244,149
252,559
Provision for loss
Res. for unreported
losses....
1,549,089
Res. for expenses &
....
$2,364,875
424,882
Depreciation and obsolescence
7,500,000
reported
losses
receivable
Total income
unearned
premiums
receivable
accts.
for
$4,393,406
2,149,257
$3,157,956
,
$4,700,896
2,336,021
$2,783,874
374,082
Operating profit
5,775,918
_*
Contingency res've
$5,695,241
2,911,367
expenses
Other income
§
$
Capital stock..... 7,500,000
Surplus & undivid¬
Prerns. in course of
1934
1935
1936
^
10,000,000 10,000,000
Securities-11,134,156
1935
-$16,960,256 $13,214,348
11,265,015
8,513,452
Gross profit
Selling and general
published in V.
Balance Sheet June 30—
Co., N. Y.
§
1
were
1936
Net sales-
Cost of sales—
.....17,151,566 16,919,879
Total
The
1936
of
Armstrong Cork Co. (& Subs.)—Earnings—
6 Months Ended June 30—x
17,151,566 16,919,879
American Surety
quarter
1935 of $16,200.—V. 142, p. 3155.
insurance
and royalties
x
105,999
$36,878
corresponding
82,345
27,620
officers & empl.
143,
$142,878
(including development)
Net oper. profit before deducting depletion,
deprec., &c
This compares with a similar profit for the
Accts. receiv. from
Prepaid
,
rec.
considered
not
$104,084
37,103
1,689
—
1,153,704
70,981
acceptances rec.
•
.
_
®Anglo American Mining Corp., Ltd.—Earnings—
Inv. in and adv. to
affiliated &
574.
P.
9,077,794
surplus... 9,433,672
enough capital not only to buy
but to provide backing for operation
necessary,
to reveal the identities of the
financial institutions which will back up the Chamber, but he said he "felt
certain" they could be counted on to furnish
necessary support.—V. 143,
215,997
681,011
if
of the plant by reputable
management.
NLr. Geisel was not at
liberty, he said,
7,000,000
7,000,000*
Accounts payable.
808,507
securs.
Chamber, furnishing,
the worsted division of the mill
outright ,
$
.
of interests inimical to the industrial
part
the
1936
Assets—
Fight "Junking" of Property—
welfare of Manchester to buy the most
profitable units of Amoskeag Mills
for "junk purposes."
In such] a situation, Mr. Geisel said, he felt sure
that the financial institutions of Manchester would stand
solidly behind
Sheet June 30—
.
Sweeney.
To
The Manchester Chamber of
Commerce, through its President, Joseph H.
Geisel, has served notice that it will take the lead in combatting "to the
last ditch" any effort on the
Balance
Co.—Consol.
1219
mills, will be required to furnish bonds of $50,000 each.
Subsidiary companies—Interest
Interest on unfunded debt
funded debt._.
1,745,653
^
on
154,980
168,881
CV24.227
Amortization of debt discount and expense
Interest charged to construction
Provision for dividends not being paid on cumu¬
lative
preferred stock
Associated Electric Co.—Interest
Interest on unfunded debt
—V. 142, p. 4013.
160 64
Cr38,lP
520
on
funded debt..
Amortization of debt discount and expense
Balance of income.
1,760,16'
102,10
49
3,550,000
6,278
247 ,§62
3,550,00'
7.2P
$664,152
$1,707,47
247 [82,
Financial
1220
Associated Telephone &
Ltd.—Earnings—
Asbestos Corp.,
6 Mos. End. June 30—
Net profit after deprec., interest
Shares of stock outstanding
1936
$16,989
132,712
130,390
$1.79
$0.13
Associated Gas & Electric Co.—Weekly Output—
Net electric output of Associated Gas & Electric System for the week
ended Aug. 8, 1936 amounted to 81,306,607 units (kwh.),
which was an
increase of 9,019,962 units, or 12.5% over the comparable week of 1935.
The continuing effects of rate reductions, increased expenses and taxes are
preventing the reflection of the full amount of these increased sales in earn¬
ings.—V. 143. p. 1066.
V.1-.
'■
Associated Gas & Electric Corp,—Earnings—
[Includes the results of subsidiaries from their respective dates of
Income from subsidiary
Electric revenues:
Power-
Electric
corporations
Railways
•
13,061,213
5,465,346
3,445,322
759,293
16,948,966
6,444,980
4,135,477
749,709
Commercial—
Municipal
26.7
29.8
17.9
979,633
690,155
x9,584
20.0
xl.3
..$83,633,972 $66,296,338 $17,337,633
645,747
323.199
322,548
Total sales—electric
Miscellaneous revenue
General
26.2
99.8
Gas revenues:
Residential
Commercial
Industrial
26.5
1,619,537 $17,660,182
8.823,597
1,038,202
1,586,591
217,819
200,202
1,078,139
$84,279,720
9,861,800
1,804,410
1,278,342
11.8
13.7
18.6
$12,944,553 $11,488,329
201,189
130,248
Total gas revenue
$1,456,224
~12J
70,940
54.5
$13,145,743 $11,618,577
Total sales—gas
Miscellaneous revenue.
$1,527,165
m
1,166,405
15.6
Water, transportation, heat &
<
7,455,108
8,621,513
miscellaneous revenue
23.8
revenues..$106,046,976 $85,693,223 $20,353,753
Operatingexpenses
45,717,028 36,794,824
8.922,203
Total operating
7,267,029
9,269,771
Maintenance.
Provision for taxes (incl. Fed¬
eral income taxes).
;
91,562
331,35b
1.360
interest—
32,113
Amortization of debt discount and expense
income
Net
$16,495
...
--
143,i p. 419.
Co.—Extra
Investment
Common Dividend—
24.2'
27.6
2,002,742
10,652,569
8,557,936
2,094,633
$33,073,433
$7,334,173
222
8,102,405
7,608,715
493,689
6.5
$32,305,201 $25,464,717
$6,840,483
26.9
x331,659
454,270
x55.3
50.7
fixed
capital..
Operating income
Non-operating revenues
and
The directors also declared an initial
quarterly dividend of $1.25 per share
$100, payable Sept. 30 to holders
the 5% cumulative preferred stock, par
of record Sept.
19.
1936
$3,648,541
6 Months Ended June 30—
Earned discount &
interest, &c—.
—
Commissions earned for the purchase & collection
of receivables (principally for assoc. cos.)..--.
income
Total
$2,544,162
817,506 *
283,014
292,500
485,847
—...
office expenses.
(incl. prov. for coll
confiscation and conversion losses)-for losses on
non-utility
of
subsidiaries
Other interest, divs.,
&c___
rec.
469,774
163,043
$2,077,853
878
599,724
895,680
Fixed
&
charges
$122,611
X565.000
V
'
25,436
18,924
$1,281,278
$986,231
preferred stock.
Net income
115,868
dividends
45,500
350,002
160.000
$815,408
$780,731
—
Balance.
—
Including surtax
14.6
$1,495,405
95,953
$1,508,022
$1,399,452
$108,570
7.8
$6,949,053
25.9
4,295,577
35.9
372,398
54.5
undistributed profits.
on
Condensed Balance Sheet June 30
1935
1936
ductions of subsidiaries:
11,977,942
683 ,673
funded debt
16,273,520
Interest on unfunded debt.
1,056,072
Less:
Interest
charged to
construction (credit).___
66,237
Amortization of debt dis¬
Interest
166,358
191,000
&c._
Provision for Federal income tax.
~82
14,041
109,994
——$33,813,224 $26,864,170
other de¬
Gross income.
$1,362,513
207,017
_.
trust notes,
Common
268,065
1,349,951
expenses
Non-oper. revenue (net).
$1,342,367
20,147
$2,078,731
Net income from operations
Other income credit.
■
$1,618,016
Total
297,552
135,381
Other operating expenses
x
Non-operating
104,502
172,134
$3,820,675
—
Salaries
Branch
Prov.
1935
$2,439,659
•
•
Preferred dividends
;
expenses:
Net income
y
1935.
24.5
Net operating revenue
$40,407,606
Provision for retirements, re¬
newals & replacements of
v
share in
quarterly dividends of 37
cents per share on the
common stock, no par value, both payable Sept. 30 to holders of record
Sept. 19.
A similar extra dividend was paid on June 30, last, at which
latter time the regular quarterly dividend was increased from 25 cents to
37>$ cents per share.
A stock dividend of 400% was paid in Aug., 1935
and an extra cash dividend of 30 cents per share was distributed on Dec. 31,
The directors have declared an extra dividend of 25 cents per
addition to the regular
on
Total electric revenue
5,308
$555,605
82,717
Initial Preferred Dividend—
$7 .3
$6,942*670
4,847\006
3,887,752
153,742
Operating expenses and taxes
Financial expense (non-recurring)
Interest on funded debt
Associates
Amount
$396 ,£55
—
-
.
Total gross earnings
-V.
Increase-
1935
1936
Residential$32,360,203 $25,417,533
22,994,636
18,147,629
companies—Dividends
Interest
Income from other companies, &c
acquisition only]
12 Mos. End. June 30—
Telegraph Co.—Earnings—
Earnings for 6 Months Ended June 30, 1936
1935
$237,709
& other charges._
Earnings per share
~V. 143, p. 909.
1936
Aug. 22,
Chronicle
on
_
6 ,539,709
5,467,190
Notes receivable..47 ,564,395 28,123,852
Repossessed autos
51,795
30,323
Accts.
receivable.
10,133
21,395
Office furn.
&
eq.
f—deprec. value.
88,193
56,069
Coll.
28,994
95,232
Co.,
Bldg.
Emmco
1,363,481
1,224,552
,138,929
3,764,294
2,018,747
1,745,546
86.5
$11,422,093 $11,054,486
Interest, &c., of Associated
Gas & Electric Corp. on:
8% bonds due 1940
703,560
608,417
Conv. debs, due 1973——
2,270,046
2,343,955
$367,607
95,142
x73,908
Funds
$346,372
4.3
withheld
from automobile
dealers--..
250,000
250,000
644,073
Res. for losses
422,255
913,784
1,948,775
3,000,000
1,114,373
3,495,015
Unearned Income.
Insur¬
x3.2
$8,102,113
$
$
notes
.34,256,500 20,513.500
Accounts payable.]
175,510
Accr.Fed., State &[1,119,769
local taxes (est.) J
288,637
a
sub
11.3
trust
payable
Cap. stk. of Assoc.
30.4
1935
1936
Liabilities—
$
$
Assets—
Cash.
count & expense..
Dividends on pref. stocks
paid or accrued
Balance. --.1
$8,448,485
Income debentures due 1978
Us
x
6,272,266
Atlas Plywood Corp.
Years End. June ZD—
54,877,900 33,993,266
Total
shares.—V. 142,
4167.
p.
(& Subs.)—Earnings—-
1936
1935
1934
1933
$546,781
297,268
$411,955
302,622
$517,363
272,238
$174,495
261,660
$249,512
$109,333
21,449
$245,126
22,598
loss$87,164
39,298
$130,782
93,720
19,322
5,880
$267,724
100,375
20,337
6,065
loss $47,865
Cr25,149
Cr43,716
Cr67,629
_
—:
Total income
Interest on these debentures, which is junior to the in¬
Cash discount
tion of the company.
The above statement
Disct.
receivable from
Associated Gas & Electric Co. and all deductions dependent thereon.
Non-recurring expenses in connection with various investigations, the
Wheeler-Rayburn Bill, legal cases, &c., amounting to $1,935,691 for the 12
months ended June 30, 1936 and $591,657 for the 12 months ended June 30,
all income received
or
1935 are not included above.
Amortization of debt discount and expense amounting to
$267,466
83,193
29,369
8,119
Interest
8% bonds due 1940 and convertible debentures due 1973 has
increased materially in 1936 over 1935 because of the issuance of additional
debentures, which were exchanged for the company (Associated Gas &
Electric Co.) debentures under the plan of rearrangement of debt capitaliza¬
terest on the
excludes
no par
2,261,213
4,469,591
1,975,903
Earned surplus--.
-.54,877,900 33,993,266
Represented by 80,000
x
44,435
123,674
Other income—17,953
$5,071,008
y
capital surplus).
&c
notes,
pref. stock.— 6,000,000
stk. (incl.
Com.
Net profit from sales..
62,331
Decrease,
x
Gross profit from sales.
Amortization of debt discount
Balance
7%
Selling & adm. expenses.
3,315,145
and expense
250,000
trust
Total
15.6
$5,133,340
Balance
Co., Inc.
collat'l
on
Balance.
y
ance
Prep. int. & exps.
sales.
on
Miscellaneous
_
;
-
'
105,765
11,934
16,105
Provision for Federal in¬
come
taxes
(est.)
10,000
579
debs reacquired
on
and retired.
Add. prov. for oper. loss
Associated company
of
12,093
Net profit
Dividends
$1345,783
which do not involve a current cash disbursement.
$24,916
$115,184 def$115,585
204,500
Miscell.
$184,662 def$114,620
65,550
3,928
965
$136,783
$1,425,813 for
the 12 months ended June 30, 1936 and $1,224,552 for the 12 months ended
June 30, 1935, which is included in fixed charges and other deductions
above, does not involve a current cash disbursement.
There are also
included in operating expenses charges for amortization of suspense, &c.,
$24,916
178,054
Res've for contingencies
comparative purposes the 1935 income account "has been adjusted
to exclude the Southern Ice Co. situation from Jan. 1, 1935.
Other minor
For
.
adjustments have been made due to reorganization of certain
1936
surplus
longer required
_
_
306,613
•
*
Co.
(subordinated
817,201
227,946
Elec.
&
293,336
to all other in¬
debtedness
of
'
1936
in & advs.
associated
81,820,360
Marketable
to
cos__
secur.
29,445
76,500
44,022
101,250
3,087
3,536
Def.bal. receivable
Notes receiv. from
1
Nil
387,490
Notes & accts. rec.
192,573
Life ins.
13,485
556,508
47,331
23,036
Total
These are book figures and may
7,098,081
620,951,469 632,663,816
be more or less than
the sale thereof.—V. 143, p. 262.
Associated Telephone Co.,
sums
which could
amortiz.
Ltd.—Earnings—
1936—Month—1935
& Fed.
on
sur.
•
income
value
logging oper'ns.
x
$40,390
x$313,l26
$312,198
$3,779,246
taxes
10,000
expenses.
50,034
81,162
Earned
surplus.-_
341,284
34,645
100,034
204,500
$3,615,7721
Total
no par
$3,779,246 $3,615,77!
value.—Y. 143, p. 744.
City Brewing Co.—Two-Cent Extra Dividend—
directors have
declared an extra dividend of 2 cents per share b
a regular dividend of 3 cents
per share on the common stock
$1, both payable Sept. 3 to holders of record Aug. 22.
These will b
addition to
par
13,562
Represented by 131,100 shares of
The
Accrued
lumber &
Total
1936—7 Mos—1935
No mention was made of surtax on undistributed profits.—V. 143, p. 99;
4329.
Adv.
Auto
x$41,694
Provision for Fed'l
Reserves
11,312
Deferred charges__
Net income after deprec.,
income taxes
1935
.
25,748
25,044
5,090,185
employees
Goodwill.
Inventories
620,951,469 632,663,816
Period End. July 31-—
_ .
315,334
146,180
12,721
514,412
miscellaneous
be realized upon
1936
Capital stock
643,168 $1,643,168
5% gold debs
1, 584,000
1,584,000
Int. on 514% conv.
gold debentures.
14,520
13,145
Accounts payable.
34,904
56,453
x
1
Cash
Res. for taxes &
V. 142, p.
$44,863
131,100
Liabilities
166,231
141,663
Funded debt—152,262,135 131,444,110
Matured interest
202,631
188,166
Accrued interest
1,424,062
1,195,051
int.,
2,669
$178,054
131,100
$1.41
131,100
$0.19
1935
Plant, prop.,equip.
&c. (less depr. &
depletion)
$2, 296,141 $2,411,967
Miscell. invest
142,334
1,993
Gas & Elec.Co
x
"
4,450
$204,500
$341,284
131,100
$1.04
Associated
to
x
157,780
Comparative Balance Sheet June 30
Inv.
the corp.)
Account payable
*
13,557
1,530
■
end. of yr
Assets—
Associated Gas
debt
disct. & exp..
Total
44,863
~
Miscellaneous credits.
—379,985,863 492,596,744
Notes payable to
aim.
companies i..620,159,436 631,221,196
257,472
332,081
Cash & spec, dep
Int. receivable..
Unamort.
$
$
Liabilities—
& advances to
&
no
begin¬
Capital stock &
Investments in
sub.
year
year.
Shs.cap.stk.out. (no par)
Earnings per share
1935
,1936
$
ning of
Earn. surp.
1935
$
Assets—
Surplus for
Earned surplus at
subsidiaries.
Balance Sheet June 30
x
adjustments.
Volume 143
Financial
the first payments made
on
the
common
reS]dar quarterly dividend of 3
p.
stock since Nov.
1,-1934 when a
cents per share was distributed.—V.
1066.
143,
.
Automobile Finance Co.—900% Stock Dividend—
The directors have declared a stock dividend of 900% on the common
no par value payable on Sept. 15 to holders of record Sept. 1.
An extra cash
dividend, 5 cents per share in addition to the regular quarterty dividend of 45 cents per share was paid on July 15, last.—V. 143, p.
262; V. 141, p. 2816.
stock,
Bangor & Aroostook RR.—Collateral Changes—
The New York Stock Exchange has received notice from the Old Colony
Co., as trustee under the consolidated refunding mortgage deed
dated July 1, 1901, securing company's consolidated refunding mortgage
4% bonds, that it now holds the following securities:
Trust
$1,480,000 Bangor & AFoostook RR. Co. first mortgage Washburn Extension 5% bonds, due Aug, 1, 1939; and
$1,563,000 Bangor & Aroostook RR. Co. St. John River Extension 5%
bonds, due Aug. 1, 1939.—V. 143, p. 744.
(W. H.) Barber Co.—Registers with SEC—
See list given on first page of this
department.
Barlow & Seelig Mfg. Co.—Initial
The directors have declared
share on the $1.20 cumulative
an
Class A Dividend—
initial quarterly dividend of 30 cents per
class A common stock, no par value,
conv.
payable Sept. 1 to holders of record Aug. 20.—V. 142, p. 4014.
Bastian-Blessing Co.—Earnings—
Earnings for 6 Months Ended May 31, 1936
■
Net profit after all charges & prov. for Fed. income taxes..-$158,142
Note—No mention made of Federal surtaxes on undistributed profits.
—V. 143, p. 910.
*
Beauharnois Power Corp.,Ltd.—Committee
Chronicle
Formed—
Holders of the 5% collateral trust sinking fund bonds due 1973 have
appointed by unanimous vote the following committee to investigate and
recommend policies to protect their interests in view of repudiation by the
Ontario Government of its power contract with Beauharnois: Col. J, R.
Ralston, Guy Todd, P. Du Tremblay, Severe Godin Jr., all of Montreal,
E. C. Long of Toronto.—Y. 143, p. 100.
and
Beech-Nut Packing Co.—50-cent Extra Dividend-zThe directors have declared an extra dividend of 50 cents per share in
addition to the regular quarterly dividend of 75 cents on the common stock,
par $20, both payable Oct. 1 to holders of record Sept. 12.
Similar dis¬
tributions were made in the six preceding quarters, while on Dec. 15, 1934
an extra of 50 cents was
paid and on Oct 1, 1934 an extra of 25 cents per
share was distributed.—V. 143, p. 576.
British
1221
Columbia
Dated June 1, 1936; due June 1, 1961.
Principal and int. (J. & D.)
payable in lawful money of Canada in St. John, Halifax, Quebec, Montreal,
Toronto, Winnipeg, Vancouver and Victoria, Can., or in St. John's,
Newfoundland.
Coupon bonds in denom. of $1,000 and $500, reglsterable
as to
principal only.
Fully registered bonds in denom. of $1,000 and
$5,000.
Red, all or part at option of company on any int. date before
maturity on 60 days' notice at a premium of 10% up to and incl. June 1,
1941; the premium decreasing 2 H % each five-year period or fraction there¬
of thereafter; i n each case with accrued i nt. to date of redemption.
Mont¬
real Trust Co., trustee.
Bonds will be a legal investment for life insurance companies under the
Canadian and British Insurance Companies Act, 1932, Canada.
Capitalization—
6% cumulative preference stock (par $100)
6% cumulative preferred stock (par $1001Ordinary stock (par $100)
x First mortgage
bonds, 5% series A..__
1935
1934
$60,587
$0.22
$33,672
$0.89
$0.12
——
Y.) Washington Machine Corp.—
Stock Offered—Public offering was made Aug. 19 of 30,000
shares of an authorized issue of 60,000 shares of common
stock by George D. B. Bonbright & Co. at $10.50 per share.
The corporation has recently been organized to engage in the business of
manufacturing washing machines and laundry equipment.
Its products
through jobbers and dealers.
According to the prospectus, the chief purposes of the issue are to remodel
and equip a plant to be leased by the company at Bingnamton, N. Y., to
purchase machinery and to provide the corporation with working capital.
will be distributed
—V.
143,
1934
1933
$4,572,507
128,992
$4,491,272
157,665
Years End. June 30—
prem ., income taxes &
tion of bond discount-
$4,850,505
2,619,956
792,710
$4,701,499
2,479,423
866,407
$4,648,937
2,410,557
$1,437,838
$1,355,668
$1,373,110
1936
1935
1934
1933
$154,589
$130,883
30,000
15,372
30,000
23,626
.
15,000
Writ, off shs. held by co-
15,411
10,294
expenses.-
income
$66,206
71,678
MpnthofJuly—
$131,378
59,700
$130,519
58,645
$112,850
57,590
$78,185
Preferred dividends
Balance, June 30
$71,678
$71,874
1936
1935
$10,320
468,826
$41,165
298,761
657,432
Inventory
1,057,644
Stocks & bonds of
Inv.
$70,510
42,340
at
cost
Land,
mach.
303,502
buildings,
& equip.
Liabilities—
1936
Bank advances...
Accts.
pay.,
Federal
1935
$356,810
$200,607
275,632
80,765
Organization
1,735,849
——
---------
j^ote—'The above without provision for tax on
a Includes reserve for amortization of leasehold
investment under Contract No. 4
—
$1,023,443
a765,947
$378,035
$257,496
27,100
22,657
$350,935
$234,839
undistributed profits,
•
53,000
b50,833
Brooklyn & Queens Transit Corp.—Accumulated Div
dividend of 75 cents per share on
payable Oct. 1 to holders of record
A similar payment was made on July 1, April 1 and Jan. 2 last
and compares with 50 cents paid in each of the three preceding quarters;
$1 paid on Jan. 2,1935; $1.50 per share paid every three months from Oct. 1,
1931 up to and including Oct. 1,1934; $1.25 per share quarterly from Oct. 1,
1930 up to and including July 1, 1931, and $1 per share previously each
The directors have declared a quarterly
Sept. 15.
98,011
269,586
Preferred stock... 1,492,500
y Common stock.
839,067
Surplus
78,185
1,492,500
839,067
71,678
quarter.
Accumulations after the payment of the Oct. 1
„
dividend will amount to
$6.50 per share.
19,890
4,294
$3,409,792 $2,684,6181
Total...
$3,409,792 $2,684,618
x After
reserve,
y Represented
by 63,475 no par shares,
z After
reserve for depreciation of $466,947 in 1936 and $213,919 in
1935.—V.
143, p. 745.
Operating income
>—
Applications of Henry L. Shattuck and Robert Cutler for permission to
a
protective committee of preferred shareholders of this company
(other than the New York New Haven & Hartford RR. and Boston Rail¬
road Holding Co.), and to solicit authorizations to represent these share¬
holders were approved Aug. 13 by the Interstate Commerce Commission.
The Commission attached a condition to its order of approval, however,
in which it was stated that before any plan of reorganization or recapitali¬
zation is accepted by the committee it must be submitted to the shareholders
with an opportunity to record their objections.
Mr. Shattuck. who is to be Chairman of the protective committee, was
a former member of the Massachusetts House of Representatives while
Mr. Cutler is a partner in the law firm of Herrick, Smith, Donald & Failey
form
of Boston.
The stock which the committee is to represent in the reorganization
pro¬
ceedings of the New Haven numbers approximately 24,150 shares held
by the general public for which the New Haven is liable as guarantor of the
payment of dividends.—V. 127, p. 1803.
1936—6 Mos.—1935
$6,874,102
1,979,000
$3.47,
$6,545,458
1,940,250
$3.37
income.---
.
Income deductions
—
Current income carried to surplus-
$171,639
122,507
$58,767
$49,132
15,955
Note—The above without provision for tax on undistributed profits.—
V.
143,
P.
Brown
577.
Co.
of Maine—Protective Committee for Preferred
Stockholders—
A protective committee representing preferred stockholders has been
organized and given leave to intervene in the 77-B proceedings for reor¬
ganization in the U. S. District Court for the District of Maine by order
of Judge John A. Peters, dated
The committee is made up
Aug. 3.
of Edward H.
Osgood of Boston, Mass.,
Chairman; Frank P. Carpenter of Manchester, N. H.; H. Nelson McDougall
of Portland, Me.; Sherman N. Shumway of Bangor, Me., and Laurence F.
Whittemore of Pembroke, N.
H.
John R. McLane of Manchester,
N.
Briggs Mfg. Co.—Earnings—
Period End. June 30—
1936—3 Mos.—1935
Net profit after deprec.,
taxes & other charges. $4,370,854
$3,298,317
Shs. cap. stock outstand.
1,979,000
1,940,250
Earnings per share
$2.21
$i.70
—V. 143, p. 265.
Gross
$155,684
^
.---—
Net non-operating income
Holding Co.—Protective Group Approved
1935
$1,623,834
1,329,198
138,952
$183,301
124,534
,
1936
$1,694,731
1,360,225
166,297
$168,209
15,092
Month of July—
Operating revenues
Operating expenses
Taxes on operating properties
.
$1,029,225
a651,190
the $6 cum. pref. stock, no par value,
268,638
Bostbn Railroad
$961,430
62,013
for comparative purposes.
b 1935 figures revised
—V. 143, p. 912.
Mtge.onlandsub
1,037,699
54,890
31,112
exp.
Total----.
income
Balance to B.-M. T. System
incl.
Tr.-marks,
patent
rights & goodwill
Deferred charges.
$966,462
62,763
--■
—
Current income carried to surplus.
Accruing to minority int. of B. & Q. T. Corp—_-
income
tax
53,237
Chocolates, Ltd.
z
.
Min.lnt. insub.co.
51,149
Willards
in
1935
$4,153,608
2,817,479
374,699
m-
Income deductions...
$55,261
.
$75,259
55,261
Consolidated Balance Sheet June 30
cust. cos..
$4,288,006
2,839,084
482,460
,
Operating income
Net non-operating income
*
Total surplus
Accts. receivable
[And Brooklyn & Queens Transit System]
Operating revenues
Operating expenses.__—
Taxes on operating properties-
Gross
$59,504
71,874
$137,885
59,700
Previous surplus
Cash.,.
—-
i
of customer cos
x
amortiza¬
Brooklyn-Manhattan Transit Corp.—Bonds
Sold—
Hay den, Stone & Co.; Brown Harriman & Co., Inc., and
Lazard Freres & Co., Inc., syndicate managers of the
bond issue, announce that all of the bonds have been sold
from the syndicate account and the books have been closed.
The bonds were originally brought out late in April to the
extent of $110,000,000.
The long-term 4^s were sold in
the entirety" earlier this summer and the most recent dis¬
tribution hsa dealt only with the serial 3 %s.
V
$102,756
32,211
11,041
Reval. stocks and bonds
Assets—
865,269
143, p. 265.
-Earnings—
$168,894
82,687
20,001
-
Federal income tax
Organization
exps—
Earnings for Month of July
Corp., Ltd.
Profit for year
Depreciation
.—.—-
,
Balance before charging bondint. &
911.
p.
Blue Ribbon
Net
-1.
Total revenue-
Provision for depreciation
-V.
(N.
Years
$4,727,120
123,385
-
Operating and administration
Bergholz Fuel Corp.—Registers with SEC—?'
Binghamton
4,500,000
10,000,000
10,000,000
y
1935
After loss on reduction of aluminum kegs to scrap value but before
provision for Federal surtax on undistributed profits.—V. 143, P. 744.
page of this department.
$1,000,000
4,500,000
4,500,000
Earnings for Calendar
Revenue,.
x
See list given on first
Outstanding
$1,000,000
4,500,000
$10,000,000 of 4M% series B bonds, this issue, have been authorized
to refund, retire ot replace the outstanding $10;000,000 of 5% series A
bonds and as from time to time exchanges or redemptions are carried out
bonds of the new series will replace bonds of the old, par for par.
y Additional first mortgage bonds may be issued only under the restric¬
tions of the trust deed.
Company—Incorporated in 1916 by Private Act of the Dominion of
Canada, and with its predecessors has beenin successful operation for more
than 35 years.
Company is the second largest privately-owned telephone
operating company in Canada, serving a territory, including the cities of
Vancouver and Victoria, having a population of approximately 600,000
and operating over 110,535 telephones.
It owns and operates an extensive
long-distance system, including four submarine cables from the mainland
to Vancouver Island connecting with Victoria.
Its lines also connect
with the western terminus of the Trans-Canada Telephone system.
Berghoff Brewing Corp.—Earnings—
1936
Authorized
-
x
Interest from investments, &C--
x$242,410
Offered—
Ltd.; Cochran, Murray & Co., Ltd.; Hanson Bros., Inc.;
McLeod, Young, Weir & Co., Ltd.; Pemberton & Son Van¬
couver, Ltd.; Gairdner & Co., Ltd.; Midland Securities
Corp., Ltd.; Collier, Norris & Henderson, Ltd.; H. A.
Humber, Ltd.; C. M. Oliver & Co., Ltd., and the Western
City Co., Ltd., in July last offered $10,000,000 1st mtge.
bonds, 4^% series B.
.
6 Months Ended June 30—
Net inc. after depr., taxes &oth.chgs.
Earns, per sh. on 270,000 shs_
Co.—Bonds
Telephone
W. C. Pittfield &
Co., Ltd.; Wood, Gundy & Co., Ltd.;
Dominion Securities Corp., Ltd.; Nesbitt, Thomson &,Co.,
H., is Secretary, and the firm of McLane, Davis & Carleton, Man¬
chester, N. H., are attorneys.
There are 100,000 shares of preferred stock
($100 par) issued and out¬
standing, held by over 3,000 stockholders.
The largest amount of stock
is held in New Hampshire, closely followed by Maine and Massachusetts.
The committee proposes to file a petition for leave to solicit deposits
of
a deposit agreement, which is to be submitted
approval —V. 142, p. 4332.
stock under the terms of
to the Court for
Financial
1222
of
Brown-Forman Distillery Co.—Rights—
holders of common stock to subscribe for additional shares
common stock, par value $1, will expire on Aug.
27, 1936.—V. 143,
p.
1067.
The rights of
reorganization announced by the company.
under the plan of
143, p. 1067.
company
—V.
Bullard Co.—Earnings—
$686,809
301,767
Selling & gen. expenses.
$200,179
$385,042
Gross profit
$32,783
$399,386
com.
stock
$207,065 loss$236,123
276,000
$1.23
$207,065 loss$236,123
$31,996
276,000
$0.12
'
276,000
$0.75
276,000
Nil
.
b Federal income tax only.
Federal capital stock tax only,
a
Note—No provision has been made for the surtax on undistributed profits
for the tax on excess profits as the amount of such taxes, if any, is not
of the company on Dec. 31,
determinable until the close of the fiscal year
1936.
Balance Sheet June 30
>
1
J
94,445
38,750
1
Receivables
Trade accepts, rec.
Inventories
92,008/
\
(
...
10,758
Total.-.1
$2,659,398 $2,220,789
payable.
$1,051,125
79,731
65,023
Notes payable
Accrued
200,000
-
payrolls,
98,679
59,257
a81,450
1,363,121
1,200
829,475
«fec
taxes,
Provision for Fed'l
81,574
881,779
12,108
966,074
expenses.
Prepaid
1935
Common stock..$1,051,125
Accounts
1
467,334
i
Cash
z
x
Land, bldgs., ma¬
chinery &equip.$l, 123,222 $1,112,132
Patents
income tax
Earned surplus—
|
....$2,659,398 $2,220,789
Total
$22,702 for prior years,
x Represented by 276,000 no par
Less reserves for depreciation of $2,814,844 in 1936 and $2,753,306 in 1935.
z Less reserve vor bad debts, &c., of $6,667 in 1936 and
Includes
a
shares.J
y
amount of capital
.
Campbell, Wyant & Cannon Foundry Co. (&
12 Mos —
$2,018,765
37,850
$1,071,891
$2,056,615
—6 Mos.
1936—
Other income (net)
income
Total
...
25-cent Dividend—
5,398
stock, payable Sept. 30 to holders of record Sept. 15. A similar amount
paid on June 30, last, this latter being the first payment made since
30, 1930, when a dividend of 40 cents per share was distributed.
—Y. 142, p. 3498.
was
June
profit
(& Subs.)—Earnnigs—
Net sales
Income from investments
-
-
bonds of Har¬
and William Davies Co.,
less premium pair or payable
redemption thereof
Profits realized on redemption of the
ris Abattoir Co., Ltd.,
Inc. in prior years,
on
Total income
Cost of materials, supplies, packages, &c
of 12
cents per share in
addition to a regular quarterly dividend of 50 cents per share on the com¬
mon stock, no par value, both payable Oct. 1 to holders of record Sept. 21.
A similar extra was paid on July 1 and on April 1, last; extras of 50 cents
were paid on Dec. 16, 1935 and on Dec. 5, 1934, and an extra dividend of
25 cents per share was distributed on July 1, 1935.—V. 142, p. 3498.
49,758
Interest on bonds
1935
1936
$4,185,212
xl,683,521
& all taxes
$3,828,858
xl,732,230
for retire, res.).. $2,501,691
$2,096,628
4,492
6,278
Other income
Net oper. rev. & other inc.
retirement reserve)
27,299
$1,288,011
5,379,414
$6,667,425
Net profit for the year
Total surplus
Preferred dividends
on
316,701
600,000
;
573,550
$5,177,174
stk. (no par)-$4.85
(before approp. for
Surplus end of period
Earns, per sh. on 200,000 shs. com.
$2,206,183
cos.....
522,815
Prepaid expenses.
Sundry dep. & bal.
163,048
125,129
88,405
504,395
242,192
534,510
209,445
Land, bldgs., lease¬
hold, plant & eq.19,286,432
18,982,340
1
4
Invest,
36,323
$1,802,906
235,731
1,034,582
157,071
11,400
$774,724
875,861
666,226
49,758
574,481
150,000
242,164
255*586
6,000,000
accrued charges.
Res. for Dominion
& advs.
in
759,349
Coll. trust bonds..
96,248
160,054
Inventories
619,285
Accts. payable and
3,010,778
5,622,945
for losses..
5,890,500
1,438,284
1,003,705
Advs.from sub. co.
less re¬
2,717,768
5,385,449
serve
&
Provincial
in¬
& sales tax
come
Accrued bond int.
receivable
Dividends
Mtges. and sundry
Life ins. prem. pd.
...
$364,121
239,917
986,848
168,368
Other income deductions:
....
Bal.
payable
of bond issue
of H. A. Co.,Ltd
call, for red. Jan.
37,286
1. 1935
Reserve
for depre¬
and
ciation
sur¬
13,994,083 13,265,185
5,379,414
5,177,173
Surplus.
29,096,325 28,720,302
Total
Net income
Including $100,004 for the 12 months ended June 30, 1936 and $99,996
for the 12 months ended June 30, 1935, for amortization of extraordinary
operating expenses deferredjn 1931.—V. 143, p. 265.
Canada Bread
Co., Ltd. (& Subs.)—Earnings—
iQQfi
investm'ts
Depreciation
Spec. prov. for bad debts
$460,591
57,567
197,705
$296,369
9,193
$304,275
58,743
235,351
25,000
$349,212
58,120
216,967
39415
$296,406
7,869
$342,826
$305,563
59,238
236,610
30,000
23,000
16", 109
6,386
2,592
bonds
held by co.)__
2,425
Cr472
Dr2,610
Net profit
Dividends on pref. stock
$163,478
62,500
$55,895
loss$17,428
$100,978
$55,895
or
Net addition to surp--
Consolidated Balance
a
Accounts receivable
Inventories
Mortgages receivable
Buildings and equipment
Land.
Prepaid
100,000
insurance,
taxes
$293,367
150,375
118,107
62,584
20,750
2,193,701
391,330
Sheet June 30,
and
other charges
73,223
8,069
Deferred moving expenses
Goodwill
500,000
Acc'ts
1936
$214,457
40,513
...
22,782
Bond interest accrued
Div. on 1st preference
After
reserve
Calumet
1,250,000
par)
5% cum. par tic. red. class B
preference stock ($50 par)..
1,250,000
25,000
Common stock
75,580
surplus
$3,811,508
Total
for doubtful accounts of $45,000.
&
Hecla
Consolidated Copper
Co.—25-cent
Dividend—
mon
stock, par $25, payable
of 25 cents
per
share
on
Oct. 1 to holders of record Sept. 1.
the com¬
A similar
a
Co.—Preferred Dividends—
dividend of $1.75 per share on the $7
share, respectively, were
m
Caterpillar Tractor Co.—Earnings—
....
1936—Month—1935
1936—12 Mos —1935
$2,977,178 $47,477,945 $30,481,043
$5,049,614
Net profit after chgs. &
Federal income taxes.
x868,060
451,551
$0.45
$0.24
x7,938,754
4,633,513
Earns, per sh. on 1,882,240 shares capital stk.
(no par)
V.
.
No provision was made for Federal surtax on
143, p. 578.
/
Central
$4.22
$2.46
undistributed profits.—
Airport, Inc.—Earnings—
Total expenses.
Rent for leased
1934
1933
$75,084
55,995
$164,928
52,769
$70,950
41,281
$53,908
39,679
33,250
28,668
Cr50,000
32,728
29,520
33,511
24,128
45,595
23,378
$7,172
$42,435
$0.03
Years End. Apr. 30—
Total income
$0.19
1936
1935
airport
land.
Depreciation
x Non-recurring income.
Prov. for estimated Fed.
6,863
income tax
614
Surplus adjustment
Net credit to surplus.
Earnings
per
share
Arrived at
as
Crl ,626
def$26,344
Drl ,446
def$56,190
on
capital stock
x
The directors have declared a dividend
have declared
payment on these issues of $1.75 and $1.50 per
made on Jan. 3, 1933.)—V. 143, p. 578.
x
911,300
Increase
$156,000
pref. stock, no par value, and a dividend of $1.50 per share on the
$6 cum. pref. stock, no par value, both payable Sept. 1 to holders of record
Aug. 15.
Similar payments were made on July 1, June 1, April 1, March 2
and Jan. 2 last, Oct. 1, July 1, April 1 and Jan. 2, 1935.
Company paid
87 and 75 cents per share, respectively, on these issues on July 2 and Jan. 2,
1934 and on July 1, 1933, while on Oct. 1 and April 2, 1934 and on April 1
and Oct. 2, 1933 dividends of 88 cents per share on the $7 pref. and 75
cents per share on the $6 pref. stock were paid.
(The last regular quarterly
21,875
shares..
b After reserve for
depreciation of $2,546,932.
c Represented by 200,000 no par shares.
Note—On the above balance sheet effect has been given to the company's
capital reorganization which was ratified by the shareholders in August,
1935.—V. 142, p. 3841.
>
a
19.35
$2,276,000
$2,432,000
cum.
sinking fund gold
bonds, due 1941
1st pref. cum. red. stock ($100
Earned
$3,811,5081
Total
Carolina Power & Light
The directors
Period End. July 31—
sales..
accrued charges
Taxes due and accrued
c
-
Net
payable, wages & other
1st mtge. 6%
Gross earnings
—Y. 143, p. 1068.
def$17,428 def$143,284
Liabilities—
Bond redemption fund
b
loss$43,284
—
Assets—
Cash on hand and in banks
Ry.—Earnings—
1936
$456,290
4,301
_
(red.
Tnrrpnsp
$301,547
Earnings of System for Second Week of August
Income and corp. taxes.
Loss on sale of invests.
on
$2,954,717
1068.
oper.
Total profit
Bond interest.
i QQ K
$3,256,264
Canadian Pacific
Consolidated
profit on
before bond int.,
deprec., income and
corporation taxes
Rys.—Earnings—
Gross earnings.
—V. 143, p.
1933
1934
1935
1936
...29,096,325 28,720,302
Total
Earnings of System for Second Week of August ■'
x
Years Ended June 30—
|
Represented by 200,000 no par shares.—V. 141, p. 1268.
x
Canadian National
*
$
1,438,284
Co's' bankers(sec-)
132,405
Call loan
Accts. rec.,
$
Common shares,
x
plus on appr
Gross income
$5 .379,414
$4.48
Cum. pref. shares.
15,573
16,690
300,000
Rent for lease of electric properties
Interest charges (net)
Amortization of debt discount & expense
150,000
Mar. 26'36 Mar. 28'35
Liabilities—
$
$
Assets—
Cash
$2,102,906
300,000
$5 ,951,701
422,287
Consolidated Balance Sheet
Goodwill
$2,506,183
Appropriation for retirement reserve
$1 ,318,663
4 ,633,038
7% cum. pref. stk. red. Jan. 1,1936--
Investments
Net oper. rev. (before approp.
507,514
Provincial income taxes
less profits
off investments,
sales thereof
written
Previous surplus
to sub.
Co.—Earnings—
'
12 Months Ended June 30—
Operating revenues
Operating exps., maintenance
748", 019
Mar.- 26'36 Mar. 28*35
Dividend—
The directors have declared an extra dividend
California Oregon Power
8,420,656
15,324
747,674
149,321
363,000
9,055,753
Depreciation on fixed assets
on
80,249
--
S ;63,635,694 $59,377,141
51,986,638
48,335,203
—
Expenses, wages, salaries, &c
Provision for losses of subsidiary company
on
California Ink Co., Inc.—Extra
Mar. 26 '36 Mar. 28 '35
$63,586,883 $59,186,658
48,811
110,234
Years Ended—
Premium
Aug. 17 voted to dissolve the company.
More than the
required two-thirds majority voted, in favor of the move.
Directors will
meet in the near future to effect final liquidation and determine the amount
and manner of distribution.—V. 143, p
421.
disct.
224,479
$534,914
$917,596
x The report
states that under the provision of the Federal Revenue
Act recently enacted the corporation is subject to four Federal income
taxes which are based on the income for the year, the amount of dividends
paid and the final surplus.
Any estimate of tax liability made prior
to the close of the year is, therefore, more or less arbitrary.—V. 143, P. 578.
Net
Common dividends
Cache La Poudre Co.—To Dissolve—
or
447,201
134,531
share on the com¬
mon
Prem.
Drl5,899
164,699
Depreciation & obsolescence
x Provision for Federal income tax
realized
The directors have declared a dividend of 25 cents per
on
451,440
243,145
Expenses, &c
Amounts
Int. earned
Subs.)—
$1,036,226
35,665
Period End. June 30,
Net sales
Reserve for Dominion and
$9,893 in 1935.
Stockholders
held Aug. 18 voted to reduce par
stock from $25 to $5 and to credit to surplus the
represented by the decrease.
There are 2,005,502 shares
outstanding.
'
Stockholders also directed officers to procure a relisting of the shares on
the Boston and New York Stock Exchanges and re-registration with the
Securities and Exchange Commission.
To provide for the contingency that
further action by stockholders might be required in connection with the list¬
ing the meeting was adjourned until Sept. 15.—V. 143, p. 746.
value of the authorized
Canada Packers, Ltd.
1936
Liabilities—
1935
1936
Assets—
y
Value Reduced—
Par
out¬
standing (no par)-.__
Earnings per share
or
distributed.
share was
Interest & invest, income
$271,638
Surplus
Shares
3,674
$208,693 loss$232,123
aL628
4,000
jbi,200
$3*1,996
$340,638
69,000
Net profit
Dividends
57,096
$33,196
b58,748
Total profitFederal & other taxes
78,570
$151,597 loss$235,796
413
14,344
Other income—
166,597
167,396
*
Operating profit
1934
1933
$318,194 loss$157,226
1935
1936
6 Mos. End. June 30—
payment was made on June 1, last, this latter being the first payment made
on the common stock since June 30, 1930 when a dividend of 50 cents per
Stockholders at an adjourned meeting
Bucyrus-Erie Co.—Agent—
The Guaranty Trust Co. of New York has been appointed agent to accept
the 7 % cumulative preferred stock and convertible preference stock of that
1936
22,
Aug.
Chronicle
follows:
Nil
Nil
Dividends from affiliated company, received in
stock at par value, $14,000 and fair market value of buildings acquired
Central Airport Sporting Club on expiration of lease, $36,000.
from
Volume
Financial
143
Chronicle
Balance Sheet April 30
Assets—
Sundry
Certain-teed
1936
1935
$45,686
4,165
$86,251
Current liabilities.
3,957
Reserve for deprec.
506
1,283
674
576
65,010
1,384,336
&
_
Land
497,996
1,446
Deferred assets.__
$1,999,821
Capital surplus
Deficit.
$1,999,821 $1,970,754
Total
shares of
—V. 411, P. 1268.
6 Months
Period—
June 30, '36
Net earnings after normal Federal income taxes—
Earnings
$1.29
Operation
Gas purchased
Maintenance
Prov. for retirement
Taxes
Net earns, from oper.
Other income (net)
earns,
$62,914
91,870
4,151
61,777
33,622
38,608
17,835
$778,809
220,332
9,677
176,916
93,294
77,420
x40,914
$160,253
$175,000
11
20
$160,265
125,156
$175,020
130,599
8
before int..
$62,922
62,227
Funded debt interest...
General interest
v..~,
$81,501
65,055 I"
463
781
7,654
Net income before pre¬
ferred dividends
loss $855
$9,266
$26,673
capital stock
$431,187
132,130
$65,198
262,554
$433,968
264,260
3,000
8,400
6,000
new
Dec. 2 and June 1, 1935, and Dec. 1, 1934, this latter being the first divi¬
dend paid since Dec. 1, 1931, when a regular semi-annual distribution of
made.
was
Period End. June 30, 1936—
Net income after deprec., taxes & other charges.__
.
"1936—3"Mos.—al935—""1936—6~Mos
Earns, per share
—al935
—V.
$5,937,828 $13,006,909 $1 1,731,301
3,523,060
1,820,895
3,677,200
410,508
423,529
211,916
283,347
333,758
108,611
722,776
749,471
388,812
1,475,424
1,517,068
748,949
bl ,344,485
1,388,873
671,581
142,
p.
140,000
on
common
Other income (net)
-
-
__
at
currently paid
on
depletion, and amortiz., taxes, and rents and royalties)
$1,987,060
15,553
$4,961,396
45,457
!$3,927,310
33,287
Gross profit from sales
Gross profit from miscellaneous
$2,538,077
1,195,787
49,220
$2,002,613
$5,006,854
Total
1,326,922
2,420,017
49,365
96,141
I$3,960,597
2,663,348
96,620
Crl44
Cr298
Cr368
Cr746
89,795
266,367
$1,157,658
$2,224,695- $1,018,296
$536,829
rates
;
Profit
832,632
952,946
416,294
from
operations
247,762
774,587
620,265
387,258
161,988
South
Co.
Income charges.
x
West
Net income for the fiscal year
dividends:
371,664
651,483
loss266,723
The
loss588,922
recurring, have been reversed and the reversals given effect in the
1936 columns of this statement. No provision has been made for Federal
undistributed profits,
c No provision has
been made on the
books of the respective parent companies for the deductions made in this
statement for suspended preferred dividends of subsidiaries.—V. 142, p.
4017.
on
Central Vermont Public Service
Corp.—Earnings--—
12 Months Ended July 31—
xl936
Operating revenues
$1,910,499
115,312
181,011
232,325
750,229
Maintenance
Depreciation
All taxes, including Federal income
Other operating expenses.
-
$631,620
5,783
Non-operating income—net.
1935
$1,824,161
110,407
160,221
211,177
649,229
Champion Paper & Fibre Co.:
Old issues#
„
First
preferred stock
Special preferred stock
income..
135,034
Preferred stock
Common stock
.
"
Other deductions.
Preferred dividend requirements.
$321,037
227.160
$384,247
227,160
$93,877
!-
Other interest
weeks
each.
Consolidated Balance Sheet, April 26, 1936
Liabilities—
Assets-
$3,612,898
Marketable securities & tem¬
invest'ts (at cost)..
porary
"
600
a
Notes & accts. rec. (trade),
Other notes & accts. rec—
Inventories
Advances
on
raw
materials.,
a
-
■'
As shown by the company's books and subject to audit at end of calen¬
dar year.
Investments
(not
b
current)
—
Property, plant & equip—
Patents
The company will offer its $7,000,000 3K%
1st mtge. bonds, series B,
101.875, according to an amendment which the company filed with the
The offering will be made Aug. 25.
^*The underwriters and the amounts underwritten are: Halsey, Stuart
&^Co., Inc., $2,973,000; Graham, Parsons & Co., $1,448,000; Arthur
Perry & Co., $1,448,000; Newton Abbe & Co., $1,131,000.—V. 143, p. 1068
Total
a
c
no-par
reserves,
reserve
for
Inc. avail, for fixed chgs.
charges
Deficit balance trans¬
ferred to P. & L
-V. 143, P.
748.
.
$82,630
$769,890
.
Reserves
6% cum. pref. stk. ($100 par)
Capital surplus (paid in)___._
Earned
surplus
50,064
676,519
254,000
5,388,191
229,430
7,750,000
7,871,428
369,510
6,535,585
Total
$29,985,916
1935
$8,128,384
3,095,688
74,470,758
62,720,390
26,208,894
19,857,617
..
2,124,737
1934
1933
$8,876,222 $10,775,788
3,736,946
5,138,667
2,709,388
4,019,067
From Jan. 1—
Gross from railway
Net after rents
$500,136
Long-term debt
..$11,186,874
5,262,786
3,899,748
..
Net from railway—
$81,338
payable
16,360,820
1936
July—
Gross from railway
1936—7 Mos.—1935
$3,318,319
$3,086,587
99,112
313,739
def27,525
184,956
defl2,183
264,158
757,708
764,294
Dividends
b After reserves for depreciation of $127882,509.
amortization of $23,550.
d Represented by 551,000
Net from railway
Net after rents
1936—Month—1935
$456,931
$527,914
46,716
43,224
25,788
25,336
28,673
27,597
110,011
110,227
Accrued liabilities
shares.—V. 142, p. 2822.
SEC.
Inc.—Earnings—
$3,410
857,7£6
;
Chesapeake & Ohio Ry.- -Earnings.-
at
Central Vermont Ry.,
payable
Accounts payable (trade)
Other accounts payable
d Common stock.
167,045
791,051
$29,985,916
After
After
Notes
97,598
660,784
...
Deferred charges
The SEC exempted from the provisions of Section 6 of the Public Utility
Holding Company Act a $7,000,000 issue of 4% first mortgage bonds.
The SEC stipulated, however, that the sale must be carried out in accord¬
ance with orders issued by the Public Service Commissions of Vermont and
New Hampshire.
The SEC pointed out that the Public Service Com¬
missions of Vermont and New Hampshire had limited the amount of the
issue to $7,000,000 and reduced the interest rate from 4% to 3 H %.
2,134,556
486,765
5,319,866
6,208
Notes and accts. receivable
a
c
I s sue Exempted—
347,722
Other investments
a
Balance
46,236
The Champion Fibre Co.—preferred stock.. _<* _____ .....
deducting minority interest"of "$467236 in income of
the Cham¬
pion Fibre Co. represented by dividends on its preferred stock,
y The
capital stock outstanding at the end of the fiscal year consisted of 77,500
shares of 6% preferred stock and 551,000 shares or common stock without
par value.
On this basis the net income after preferred dividends, repre¬
sented an earning of $1.35 per share on such common stock.
The capital
employed in the business, however, was in varying amounts throughout
the year.
Therefore, to avoid distortion, it should be pointed out that the
earnings on the common stock equaled
approximately $1.69 per share.
This is on the basis of an average of the various classes of preferred and
common stocks outstanding during the year, including the preferred stock
of Champion Fibre Co. (now retired).
Note—-The fiscal year of the companies consists of 13 periods of four
$157,087
interest....
383,733
374,059
'"Before
548
$693,674
305,170
1,856
2,399
-
Common stock
$693,125
$637,404
304,213
3,163
8,990
1
20,583
49,665
New issues:
Cash
Net rev. from ry. oper..
Net ry. oper. income
y$l,207,389
Cash
prior
Period End. July 31—
Operating re venues
$2,189,178
732,883
248,906
—
Provision for Federal and State income taxes
are not
Fixed
$2,027,190
-
Gross income
with refunding operations in the current year.
Federal and State income
taxes accrued earlier in 1936, without recognizing these deductions, which
Bond
expenses..
Other income credits
Co. will claim deductions in their 1936 income tax returns for premiums
and unamortized discount and expense on bonds redeemed in connection
x
$3,260,684
1,225,472
8,022
—
Selling, general and administrative
a Adjustments made
subsequent to June 30, 1935, but applicable to the
period beginning Jan. 1, 1935, have been given effect to in these columns,
b The Public Service Co. of Oklahoma and Southwestern Gas & Electric
Bond
a.
'.
on
lien & pref. stocks._
Gross
917,768
860,838
253,147
25,945
-
pref.
Balance before cumul,
unpaid divs. on Cen¬
surtax
$5,318,383
Provision for doubtful notes and accounts
538,230
Utilities
18,223
(net)
operations
profit
Rents and royalties
pref.
stocks of subs, held by
the public-c
&
Gross
$5,300,160
Maintenance and repairs
Depreciation, depletion and amortization
Taxes (other than income taxes)
stocks of subs, held by
tral
14,390,849
183,078
the public
Divs. suspended
$0.30
Consolidated Income Account for the Year Ended April 26, 1936
Gross profit
accrued
$129,341
$0.48
Gross sales (less returns and allowances, &c.)
$19,691,009
Cost of goods sold (exclusive of maintenance and repairs, deprec.,
$2,522,777
15,299
Q
Balance..
$76,223
ChampionJPaper & Fibre Co. (& Subs.)—Earnings—
Amortization of debt dis
Divs.
6Mos.
3 Mos.
shares
4333.
135,557
.
$296,057 loss$205,756prof$163,708
basis for depreciation.—V. 143, 913.
$71,211
Revised to give effect to
like amount
indistributed profits.
on
tax
Chapman Valve Mfg. Co.—Accumulated Dividend—
Subs.)Central_& South West Utilities Co (& Subs.)-—Earns.
West Utilities Co.
$6,606,883
Operation
1,919,474
Power purchased
212,502
Gas purchased
117,273
Maintenance
394,920
Provision for retirement.
764,142
Taxes
b675,792
$384,580
49,388
The directors have declared a dividend of $7 per share on account of
accumulations on the 7% cum. pref. stock, par $100, payable Sept. 1 to
holders of record Aug. 25.
Dividends of $3.50 were paid on June 1, last,
$29,987
Total oper. revenues
$30,173
35,025
Netprofit.
13,489
SO—
$403,343
27,844
4,200
__
236,839
202,402
3,943
1,319,419
Prov. for Fed. income &
943
6,716
End~June
$184,456
22,233
,
adm. exps.
Interest
a
398
Period
$2,147,183
$;l
156,845
117,606
2,376
745,807 ^
.
8,379
150,704
56,611
77,235
38,530
1,152
No provision has been made for Federal surtax
—V. 142, p. 4017.
$1,997,255
294,083
,,225.186
3,978
1,443,835
$4,064,542
2,721,669
$1,207,090
«.
Net operating profit
Other income
^
Amort.of debt disc.& exp
x
,342,873
129,848
102,935
2,868
703,879
$206,689
131,278
-
"IIIIII
Depletion
Sell., gen. &
$696,133
189-670
15
-
piuiiu-
.
1936—6 Mos.—1935
$81,486
111,272
5,034
60,205
60,110
38,775
xl8,566
Power purchased
$6,768,417
4,621,234
Maintenance and repairs(
CoEarnings—
Period Ended June 30— 1936—3 Mos.—1935
Total gross earnings
*$356,879
$329,352
$7,827,290
5,830,035
$4,195,760
2,988,670
Cost of sales.
<
Central Power
1936—6 Mos.—a 193 5
1936—3 Mos— al935
sales
$1.08
—V. 142, p. 1977.
Net
Net
Year
Dec. 31, 3u
$143,280
share
per
Consolidated Income Account
.
.Period? End. June 30—
$170,962
listing of 107,106.8
common stock.
^
Central Ohio Steel Products Co.—Earnings—
■
Corp.—Listing
prior preference stock, which is the maximum
number of shares which
may be issued, from time to time,- upon the sur¬
render of shares of its
7% cumulative preferred stock for exchange under
options A and B of the plan of recapitalization; and 382,300 shares of com¬
mon stock
(par $1) in substitution share for share for 382,300 shares of
common stock (no
par) presently outstanding and listed, with authority
to add 315,020 shares of common
stock, that being the maximum number of
shares of such stock which
may be issued from time to time upon the sur¬
render of shares of
7% cumulative preferred stock for exchange under
option B of said plan of recapitalization; making the total amount applied
for 107,106.8 shares of
6% cumulative prior preference stock and 697,320
791
$1,970,754
Products
The New York Stock
Exchange has authorized the
shares of 6% cumulative
$15,093
85,617
219,889
1,736,092
85,939
$8,319
114,285
219,891
1,736,092
78,767
Capital stock
Other fixed assets.
Total
1936
Liabilities—
accrd.
reserves
Inventories
Investments.....
1935
47,510
1,384,336
446,049
Cash.
Accts, receivable.
1223
—V. 143, p. 748,
.
.
.
33,834,224
26,688,153
63,971,008
28,016,155
21,114,114
58,477,407
24,968,876
18,749,948
913.
Chesapeake Corp.—Collateral Changes
The New York
Stock Exchange has received notice from the
Guaranty
Co. of New York, as trustee for the
20-year convertible collateral
5% gold bonds, due May 15, 1947, that during the period from July lt
1936 to July 31, 1938, both inclusive, bonds of said issue, aggregating
$1,119,000 principal amount, were converted, canceled and retired, in
accordance with the terms of the indenture dated May 15, 1927, and as a
result thereof, 25,449 shares of the Chesapeake & Ohio Railway Co. comTrust
trust
Financial
1224
stock
mon
withdrawn from the
"were
under said indenture.
Period End. June 30—
Interest & divs.
Interest paid
Amortiz. bond
collateral pledged with it as trustee
,
^
„
1936—6 Mos.—1935
1936—3 Mos.—1935
received $2,403,208
$2,576,790
526,014
62,697
19,266
11,250
$4,900,252
1,128,757
670.155
67,270
18,998
$5,153,573
1,343,820
Maynard H.
Mitchell
shares, and
Turben & Co., 2,400; Hawley Huller & Co., 2,400 shares;
Murch & Co., 1,500 shares; Ourtiss House & Co., 1,200 shares;
Herrick & Co., 1,000 shares; McDonald Coolidge & Co., 1,000
Shepard, Inc., 500 shares.—V.
Field, Richards &
41,305
22,500
134,540
38,369
12,483
$1,814,153 x$3,582,296
1,349,809
2,699,617
$3,624,361
2,699,617
$882,679
$924,744
Preferred
for Federal income taxes and surtax on undivided
profits and exclusive of profit on bpnd conversion.—V. 143, p. 423.
Common
Capital stock tax
—
x$l,783,981
1,349,809
Profit
Dividends...
125,394
6,214
provision
Chesebrough
Dividend
Co. Consolidated—Extra
Mfg.
declared ^tn extra dividend of 50 cents per share in
addition to the regular quarterly dividend of $1 per share on the common
stock, par $25, both payable Sept. 30 to holders of record Sept. 5.
The
company has paid extra dividends of 50 cents per share in September,
March and June of each year from 1929 to and including 1936.
Extra
dividends of $1 per share were paid in December of each year from 1929 to
1935, inclusive.
In addition, a special extra dividend of $5 per share was
paid on Dec. 31,1934.—V. 142, p. 3499.
The directors have
together with A. G. Becker, is interested in buying the 173,995 shares of
Middle West Corp. stock held by the Reconstruction Finance Corporation,
but added that no bid has been made by them for this stock and that they
are not negotiating directly with the RFC for it.
Discussing the purchase, Mr. Glore said that the stock would be held
"until some one wants it worse than we do," adding that "we expect we
can make a substantial profit over a period of time."
He disclosed that there were negotiations extending over many months
with Bankers Trust Co. and First National Bank or Chicago as well as
Continental Illinois for the purchase of Middle West stock, but it finally
proved possible to buy only from the Continental.
The Bankers Trust Co. holds 568,022 shares and First National 472,057
shares of Middle West stock.—V. 143, p. 1069.
and
>,
dividend of 12 M cents per share in
quarterly dividend of 37 H cents per
share on the
payable Sept. 15 to holders of record
Similar payments were made on June 16 and March 11 last
Dec. 14, 1935 —V. 142, p.
on
3500.
Chicago Rock Island & Pacific
Ry.—Hearing Set—
Commission announced Aug. 14 that on
opened on a proposed reorganization plan
will be taken upon a separate proposal of
bondholders of the Rock Island Arkansas & Louisiana RR. for reorganiza¬
tion of that line.
The Rock Island Arkansas & Louisiana is a subsidiary
of the Chicago Rock Island & Pacific.—V. 143, p. 914.
Interstate
The
board of directors
adopted June 18, 1936.
estate
..
Cincinnati Gas & Electric Co.—Earnings—
(Consolidated with income statements for the same periods of the Union
Gas & Electric Co., which company operated the property of the Cincinnati
Gas & Electric Co. as lessee, and paid as rental the entire net income of the
property.
On June 30, 1936, with the consent of the Public Utilities Com¬
mission of Ohio and the Federal Power Commission, the Cincinnati Gas &
Electric Co. by merger acquired all of the assets and assumed all of the
liabilities of the Union Gas & Electric Co., and the lease agreement under
which the two companies operated prior to June 30, 1936 terminated.)
—
3 Months
12 Months
$5,663,438 $23,039,081
2,534,814
Operation
Provision for retirements
—
Taxes
^
Net operating revenue
10,379,377
-
573,612
635,643
696,580
2,041,239
2,565,334
2,562,044
$1,222,788
Maintenance
U. S. Treas. ctfs__
376,365
;
—
Net income,..
Preferred dividends
_
receivable-
Accts.
82,666
Accrued int. rec._
ceiver
$5,515,255
1,549,135
$3,966,119
2,000,000
$352,164 $1,966,119
undistributed
t
No provision has been made
net income.
in respect to Federal taxes on
Period End. July 31—
deprec., &c., charges.
Earnings per share on
stock (par $50)
—V. 143, p. 749.
$10,090
shares
7,500
capital
_
Taxes, other than Fedsral income taxes
Provision for Feaeral income taxes.
Non-operating revenues
W Gross income
funded debt
Amortization of bond discount and expense
Other interest charges
Appropriations for depreciation reserves
$0.19
Co. (& Subs.)—Earns.
1936
1935
$25,817,675 $23 528 753
8,998,184
8,547,240
1,496,349
1,529,194
3,088,933
2,713,920
641,313
611,797
$11,679,064 $10,371,937
2,000,000
1,520,833
63,129
2,630
32,193
19,173
2,986,023
3,145,882
»,990,544
Net income
$5,290,591
142, p. 3669.
Offer Stock at 68^-—
The company, in an amendment filed with the Securities and Exchange
Commission, has fixed at $68.50 per share the initial offering price under
its
registration of 40,393 shares of common capital stock.
Only 20,393
shares will be offered to the public immediately, according to the
amend¬
The stock being sold is that owned by Midamerica Corp.
The underwriters and their participations, as disclosed in the amendment,
ment.
are:
Hayden Miller & Co., 5,200 shares; Otis
1,608,176
12,141,871 13,524,521
y The property securing mortgage for $278,333 is in process of foreclosure
by the bolder or the 1st mtge.; the balance of the mortgages, $4,350,000,
became due May 1, 1934, and current interest and taxes thereon have
been paid; in view of the existing moratorium in the State of New York
payment of principal cannot be demanded before July 1, 1937.—V. 142,
p. 4171.
'
Coca-Cola Bottling
Co. of New York, Inc.—Registers
with SEC—
,
See list given on first page
x
Co.—Consol. Bal. Sheet June 30—
&equlp__20,070,823 20,492,854
Cash
8,130,463
9,319,930
Gold held abroad- 1,003,220
2,500,230
Marketable securs. 3,890,579
1,555,643
Accts. receivable.- 9,782,517
9,142,890
Inventories
19,367,293 21,361,933
Deferred charges..
866,037
970,308
mach.
—
employees
305,238
2,632,575
Goodwill, patents,
trademarks, &c.
436,744
2,668,550
Bank* loans foreign
140,142
....J.
payable. 2,072,902
1,970,479
2,878,948
2,692,973
1,761,697
subs
Accounts
Miscell. accr., <feo.
Prov.
for taxes
2,747,173
2,733,129
Special reserves— 2,062,569
Minority
66,000
Interests 1,111,024
Earned surplus...
7,375,185
1,058,751
7,670,016
1
67,342,484 67,155,345
Total—
67,342,484 67,155,345
Total
$
6% cum. pf. stock24,649,600 24,693,222
y Common stock. .24,450,760 24,363,259
Sub. mtge. bonds.
Invest. & col. advs.
1935
$
UabUities—
$
Land, buildings,
to
1936
1935
$
Palmolive building
' '
.»■
of this department.
Col gate-Pal molive-Peet
Assets—
depreciation,
y Represented by 1,956,086 (1,949,086 in 1935)
shares excluding 43,884 (50,884 in 1935) shares in treasury.
The earnings for the six months ended June 30 were published in
V. 143, p. 1069.
,
x
After
no par
Colorado Fuel & Iron
Corp.—Listing—
The New York Stock Exchange has authorized the listing of $11,053,200
5% income mortgage bonds, due April 1, 1970, and 868,039 shares of com¬
mon stock (no par) upon official notice of issuance, pursuant to the plan of
reorganization of Colorado Fuel & Iron Co., dated March 1, 1935, which
plan has been confirmed by the U. S. District Court for the District of
Colorado, pursuant to Section 77B of the Federal Bankruptcy Act, as
'
$11,053,200 of income mortgage bonds upon official notice of issuance from
time to time to the holders of first mortgage 5% bonds, due
time to time to holders of first mortgage 5% bonds,due Aug. 1,
1934, of Colorado Industrial Co., as provided in the plan; and
315,379 shares of common stock, or such part thereof as may be
required, upon official notice of issuance from time to time in
connection with the exercise of the warrants to purchase such
common
stock.
The corporation was organized in Colorado, April 16, 1936 to acquire,
pursuant to the plan, the business and properties of Colorado Fuel & Iron
Co. and of Colorado Industrial Co., a subsidiary of the old company.—V.
143,
750.
p.
Gas
&
Electric
Corp.—Quarterly Report—
Philip G. Gossler, Chairman in letter to the shareholders says:
$92,823
'
$11,592,895 $10,126,599
—
86,168
245 338
Net operating revenues
Cleveland Ry.—To
840,660
Philip G. Gossler, Chairman, in a letter to the shareholders says:
Attention of the holders of convertible 5% cumulative preference
stock
privilege, entitling holders of this
exchange each share thereof for five shares of common stock of
Columbia Gas & Electric Corp., expires Feb. 15, 1937, and that the shares
not so converted on or before that date will remain outstanding as a 5%
cumulative preference stock,1 without conversion rights, subordinate to
the outstanding preferred stock ($98,831,100 par value).
Each share of
this convertible 5% cum. preference stock has the same voting right as each
share of the common stock, and this right continues after the expiration
is called to the fact that the conversion
stock to
Maintenance
-V.
$175,176
$0.36
Total operating revenues
on
1936—7 Mos.—1935
1936—Month—1935
Cleveland Electric Illuminating
Interest
8,333
640,660
1,233,836
tax
Total-
12,141,871 13,524,521
Columbia
'
12 Months Ended June30—
Operaint expense
41,651
Surplus
Ry.—Earnings—
475,239
2,000,000
Aug. 1, 1934, of Colorado Industrial Co., as provided in the
plan.
552,660 shares of common stock upon official notice of issuance from
The company in an amendment filed with the Securities and Exchange
Commission, states that Morgan Stanley & Co., Inc., the principal under¬
writer, will underwrite $10,000,000 of its $35,000,000 first mortgage bonds,
3\i% series, due 1966.
Other underwriters of the issue and amounts to
be underwritten are as follows: W. E. Hutton & Co., Inc.. an£ Edward B.
Smith & Co., $5,500,000 each; Bonbright & Co., Inc., and Melon Securities
Corp., $3,000,000 each; Brown Harriman & Co., Inc., $2,000,000; White
Weld & Co., and J. & W. Seligman & Co., $1,500,000 each; Field Glore &
Co., Lee Higginson Corp., and Kidder Peabody & Co., $1,000,000 each.
The offering is expected about Wednesday of next week.—V. 143, p. 915
Net inc. after int., taxes
11,250
15,375
1,000,000
In¬
Fed.
for
Res.
come
Amendment Filed—
Cincinnati Street
8,300
7,346
17,172
20,510
Funds rec. as mtge
64,880
29,116
follows:
Balance
2,773
12,500
Contlng. reserve. .
forecl.
in
proceedings, &c.
Deferred charges.
1,000,000
8,000,000
200,000
31,009
8ale of real est—
Amt. due from re¬
24,169
$1,228,529
$852,164
500,000
Gross corporate income..
Interest and amortization charges
732,863
4,011,914
pref. stock.
Cash
$5,491,085
5,741
Other income
1,805,719 Accounts
8,500,687 State franchise tax
payable
204,000
605,000 Fed. inc. tax pay.
732,863 Accrued liabilities.
1,543,234 Rental & other dep
4,188 Rents rec. In adv.
87,178 Pay. on contr. for
hattan, N. Y. C. 2,592,098
1936
has,authorized the listing of $24,462,000
1st & ref. mtge. 4K% bonds, sries D, due Sept. 1, 1962, which are issued
and outstanding.
(See offering in V. 142, p. 3501)—V. 142, p. 4017.
revenues
Man¬
in
1,000,000
stock— 8,000,000
8,492
payable-
Preferred stock—
Common
1935
S
S
Liabilities—
$
real
in
Mtges. receivable.y4,628,333
Notes receivable..
Treas.
1936
1935
$
Assets—
Equities
The New York Stock Exchange
Gross
$85,244
1936
RR.—Listing—
Period Ended June 30, 1936—
$129,653
80,000
80,000
80,000
80,000
x$0.35
$0.17
$0.38
$2.93
x Before provision for Federal Income tax and before losses and expenses
aggregating $1,279,186 arising from foreclosure of mortgage and sale of
mortgage and sale of stock received in exchange for a note receivable which
have been charged to reserve for contingencies in respect of valuations
of real estate, mortgages and note receivable, pursuant to resolution of
Commerce
Oct. 6, when a hearing will be
for the company, evidence also
Chicago & Western Indiana
$146,588
Deficit
19,719
319,932
ing (par $100)
Earnings per share
Total....
stock, no par value, both
31.
Aug.
$254,407
Shs. com. stk. outstand¬
Co.—Extra Dividend—
The directors have declared an extra
common
$50,035
19,719
159,969
$91,846
profit
dividends
dividends
145,155
32,100
Consolidated Balance Sheet April 30
corporation and A. G. Becker & Co., Chicago, have purchased from
the Continental Illinois Bank & Trust Co. the 475,046 shares of Middle
West Corp. capital stock held by the bank for $12 a share.
Chicago Corp.
will hold 60% of this stock and A. G. Becker the balance.
Charles F. Glore, President of Chicago Corp., stated that his company
addition to the regular
$33,104
19,719
159,973
...
The
Chicago Rivet & Machine
$731,419
299,757
x$47,853
19,719
119,980
tax..
Middle West Stock—
Chicago Corp.—Buys
$460,309
265,388
136,430
8,456
Exp. & ordinary tax
Deprec. & interest.—_
Net
Before
x
$464,344
$434,172
Surplus
174,333
50,886
$391,553
279,224
73,533
5,692
$273,072
Total income
Federal
1933
1934
1935
1936
30—
Years End. April
143, p. 915.
(& Subs.)—Earnings—
City Investing Co.
discount
& expense
General expenses
1936
22,
Aug.
Chronicle
& Co., 5,193 shares; Merrill
of
the
conversion
feature.
On July 22, 1936 the Ohio Supreme
Court affirmed the order of the Public
1935, fixing a rate of
Utilities Commission of that State, dated Feb. 28,
55 cents per MOF for gas service in the City of
Columbus, Ohio, on the
company from the rate of 48 cents per MCF, set forth in an
ordinance of that city covering the period from November, 1929, to Novem¬
ber, 1934.
Under this decision there will be released to the company the
appeal of the
impounded funds collected from the customers, representing the difference
between these two rates for the part of the ordinance period in which the
higher rate was charged.
This decision does not relate to the case still
pending in the Federal District Court to determine fair rates for gas service
for the same city for the five-year period ended November, 1929, nor to
the appeal still pending before the Public Utilities Commission of Ohio
from the current ordinance in effect since November, 1934.'
Michigan Gas Transmission Corp., a subsidiary, has completed the con¬
struction of its high pressure pipe line to carry natural gas from the east¬
ern terminus of the Panhandle Eastern Pipe Line Co.'s property .to Detroit,
Mich., and began deliveries of natural gas to the Detroit City Gas Co.
on July 9, 1936.
In connection with the recapitalization of Columbia Oil & Gasoline Corp.,
Columbia Gas & Electric Corp. Acquired $14,574,500 1st mtge. 6% bonds
of Panhandle Eastern Pipe Line Co., due Oct. 1,1950.
Recently Columbia
Gas & Electric Corp. has disposed of all of these bonds at private sales.
Volume
of
143
Financial
During June Dayton Power & Light Co.,
a
subsidiary, sold to a group
4>£% series.
underwriters $10,000,000 cumulativef preferred stock,
Part of the proceeds were applied to the
redemption on
July 1, 1936, of
the
previously outstanding $7,800,000 cum. 6% pref. stock of Dayton
Power & Light Co. at $110 per share and the balance of the
proceeds is
being used for part of the cost of construction work now in progress.
As of June 30,1936 Cincinnati Gas & Electric
Co., a subsidiary, acquired
by merger all of the assets of Union Gas & Electric Co., also a subsidiary
of Col. Gas & El. Corp.,
thereby terminating the lease under which Union
Gas & Electric Co. had been
operating the properties of Cincinnati Gas &
Electric Co. since 1907.
The gas and electric operations in Cincinnati
and neighboring communities are now conducted
-by Cincinnati Gas &
Electric Co. in its own name.
In July, 1936 Cincinnati Gas & Electric
Co. acquired by purchase all of the assets and business of Columbia In¬
dustrial Co. and Gibson Auto Storage
Co., both of which were also sub¬
sidiaries of Columbia Gas & Electric Corp.
Greensboro Gas Corp. has been dissolved and all of its assets distributed
to its stockholders,
thereby giving Columbia Gas & Electric
Chronicle
1225
Commercial^ Investment Trust Corp.-
■Common Divi-
dend Raised-
cents per share on
Jan.
April 1, last; 75 cents regular and 25 cents extra paid on
1, 1936; 70 cents regular and 40 cents extra on Oct. 1, 1935, and 50
cents per share
paid each three months previously.
An extra dividend of
was paid on Jan. 1, 1935.
In addition a stock dividend of 20%
paid on June 1, last.
For detailed record of dividend payments see
12, 1936 issue of "Industrial Number" of "Railway & Industrial Com¬
pendium."
50 cents
was
June
A letter dated
Aug. 19 and sent to the holders of all classes of the com¬
pany's stock contained the following statement:
"At this meeting the board of directors considered the declaration of an
Corp. direct
extra dividend to be
paid to common stockholders before the end of 1936
for the purpose of
substantially reducing the amount of surtax on undis¬
These transactions eliminated four subsidiary companies and mark fur¬
ther progress in the simplification of the
corporate structure of Columbia
tributed net income under the Federal Revenue Act of 1936 but it was
deemed advisable to postpone the declaration of an extra dividend until the
earnings for the full year can be more accurately estimated."—V. 143, p.
915.
ownership of all of the stock of Greensboro Gas Co.
System.
Agreements have been reached between Atlantic Seaboard Corp., 70%
by Columbia Gas & Elec. Corp., and subsidiaries of United Gas
Improvement Co. serving Allentown, Bethlehem, Harrisburg, Reading,
Lebanon, Pa., and Wilmington, Del., as to the terms of contracts which,
subject to approval of necessary public bodies and completion of other ar¬
rangements, will be entered into calling for the supply of natural gas for
distribution in those communities
beginning in the fall of 1937.
owned
The Cincinnati Gas & Electric Co. has filed with the Securities and Ex¬
change Commission a registration statement under the Securities Act of
1933, as amended, with relation to an issue of $35,000,000 1st mtge. bonds,
3H% series due 1966.
It is contemplated that the proceeds of this financ¬
ing will be applied to the redemption of the same principal amount of out¬
standing 4% bonds on Oct. 1, 1936.
Period End. June 30—
1936—3 Mos.—1935
Gross revenues a
-.$21,079,081
Oper.
exps.
& taxes b___
1936—12 Mos.—1935
$19,567,469 $86,548,876 $78,722,813
12,262,532
53,285,979
50,095,522
1,993,463
9,317,437
7.951,831
Prov. for retire. & deple.
13,619,515
2,389,323
Net oper. revenue....
Other income—
$5,070,242
8,594
$5,311,473 $23,945,459 $20,675,459
4,383
104,516
60,849
Gross corp. income._.
Int. of subs, to public &
other fixed charges c_
Pref. divs. of subs, and
$5,078,837
$5,315,857 $24,049,976 $20,736,309
880,808
1,024,776
3,832,062
4,298,881
minority interests d._
668,912
653,723
2,647,460
Commercial National Corp.—Final Liquidating Dividend
The directors
on Aug. 20 declared a final
liquidating dividend of $1.35
share, no record date. The transfer books have been closed as of Aug.
1936. In order to secure payment of this dividend, stock should be
per
20,
presented to the Trust Department of the Commercial National Bank
& Trust Co. of New York.
A
liquidating dividend of $5 per share was declared on Jan. 7, last.—
V. 142, p. 296.
Compo
Shoe
Machinery
2,583,049
Congress Cigar Co., Inc..—Earnings—
Net
prof, after chgs.
Federal taxes
Shares capital stock
.
Bal. applicable to Col.
Gas & Elec. Corp..
Income of other subs.,
$3,529,116
appl. to C.G.&E.Corp.
$3,637,357 $17,570,453 $13,854,377
176,621
»
134,363
229.903
173,053
of Regis-
Upon the request of the company, received on Aug. 5,1936, the Securities
and Exchange Commission has consented to the withdrawal of the
regis¬
tration statement filed Dec. 14, 1935.—V.
143, p. 581.
Period End. June 30—
-
■Withdrawal
Corp.-
tration—
1936—6 Mos.—1935
$38,281
$55,888
$23,199
$23,064
302,900
$0.12
309,500
$0.18
302,900
309,500
$0.07
$0.07
(no
par)__._
Earnings
—V.
1936—3 Mos.—1935
&
per share
142, p. 3337.
Connecticut Light & Power Co.—Plans New
Financing
The company has announced plans to offer
$7,500,000 of 25-year 3H%
debentures and $7,000,000 of 30-y-ehr 3j^% mtge. bonds.
Proceeds will
be used to retire $6,500,000 of 6H% preferred
stock, redemption of more
than $4,000,000 of subsidiary
companies' bonds, installation of a 25,000kva. turbine, and improving the Monthville
power station and other
properties.
,
The preferred stockholders will meet Sept. 2 to vote on the
plan,
Total earnings of subs,
applicable to C. G.
& E. Corp
$3,705,737
Dr21,607
$3,771,720 $17,800,356 $14,027,430
228,426
547,339
1,345,746
C. G. & E. Corp...
$3,684,130
Interest charges, &c., of
O. G. & E. Corp.....
$4,000,147 $18,347,695 $15,373,177
1,334,154
Netref. of C.G.&E.Corp.
Combined
to
Bal.
appl.
charges of
earns,
fixed
a
.
to
1,364,800
5,402,577
5,415,867
$2,635,346 $12,945,118
$9,957,309
6,940.401
6,935,375
$6,004,716
$3,021,934
$0.51
$0.26
capital
Corp
Consolidated Film Industries,
$2,349,975
Preferred dividends paid..
<
Balance
Earnings per share (on
com.
shs. outstanding at
end of respective periods)...
Earnings for 6 Months Ended June 30
1936
Gross
revenues
a
Net operating revenue
Other income
$14,230,419 $13,216,275
22.685
12,863
Gross corporate: income.....
Int. of subs, to public and other fixed
charges
Pref. divs. of subs. & minority interests d
..$14,253,104 $13,229,138
1,752,953
2 087 712
1,355,422
1,323,281
r
Bal. applic. to Col. Gas & Elec. Corp
$11,144,728
Income of other subs, applic. to C. G. & E. Corp..
156.909
Total
revenue
Combined
T
of subs, applic. to C. G. & E.
of C. G. & E. Corp
earns,
earns,
applic.
to
fixed
Corp_$ll,301,637
114,650
charges of
...
Bal. applic. to cap. stks. of C. G. & E. Corp..
a
113,976
$9,932,120
517,529
1
$11,416,288 $10,449,650
.
Interest charges, &c., of O. G. & E. Corp
$9,818,143
2,698,533
2,732,686
$8,717,755
$7,716,963
It is the general practice of the corporation and its
subsidiaries, when a
contested, to include aS gross revenues
only such portion of
as is represented
by the lower of the
rate is being
the total amount billed
disputed rates
In accordance with this policy, the billings of certain
subsidiaries were rere¬
corded in gross revenues at rates lower than those
ultimately fixed by settle¬
ment of the rate cases.
All credits to gross revenues
arising from any such
settlement, applicable to the years prior to the year in which settlement is
made, are credited to surplus.
Due to certain settlements made in 1935
gross revenues, as reported above, for the 3 months, 6 months and 12
months
ended June 30, 1935 are less than the amounts
actually received and re¬
tained by such subsidiaries pursuant to such
settlements, and the gross
revenues for 12 months ended June 30, 1936 include that
portion of contin¬
gent earnings applicable to the first 6 months of 1935, which were received
and retained by the company in accordance with the settlements
and credited
to gross revenues during the last 6 months of 1935.
b No provision has been made in respect to Federal taxes on
year
1936,
as
c In refunding the 5%
bonds due June 1, 1941 of the Dayton Power &
Light Co., it was necessary to complete the sale of the refunding issue prior
to calling the then existing issue for redemption.
This sale was made in
October, 1935, and interest on both issues for approximately 40
days and
amortization
were
a dividend of 25 cents per share on account
Of accumulations on the $2 cum. and par tic. pref, stock, no
par value,
payable Oct. 1 to holders of record Sept. 10.
A similar dividend was
paid on July 1, April 1 and Jan. 2, last, and on Oct. 1 and July 1, 1935,
and compares with 50 cents paid in each of the five preceding quarters,
prior to which no dividends weer paid on this issue since April 1, 1932,
when a regular quarterly payment of 50 cents
per share was made.—V.
V. 143, p. 582.
i r
Consolidated Rendering
Co,—Pays Larger Dividend—
The company paid a dividend
of $1 per share on the common stock, no
Aug. 10 to holders of record Aug. 4.
This compares with
25 cents paid on June 1 and March 2, last, and on Dec. 2, 1935, this latter
Dayment being the first made since Jan. 6, 1930, when $1 per share was
distributed.—V. 141, p. 3375.
1
par
value,
on
•
Consumers
Steel
Products
Corp., Detroit, Mich.—
Offered—Humphries, Angstrom & Co., Detroit, are
offering (to residents of and in Michigan only) 155,588 shares
of common stock at $2 per share.
Stock
History and Business—Corporation has been engaged since its incor¬
poration in 1931 in the purchase and resale of sheet steel, commonly termed
"warehousing."
In this connection the company carries a most complete
line of hot rolled and cold rolled sheets, galvanized sheets, cold rolled
stretcher level sheets, artz press steel for hand work, hot rolled bars and
bands, angles, channels and small I-beams.
Upon completion of this
financing the company is adding additional lines, such as stainless steel,
galvannealed sheets, cold rolled bars and bands, &c., 10 or 12 additional
new lines, which should increase the volume substantially.
Light fabri¬
cation work will also be undertaken.
Company has recently been granted
the distributorship for the American Rolling Mills Co.'s "Armco" line of
stainless steel and C
G. Hussey & Co.'s line of copper and brass sheets
and formed products.
Since July, 1935, the company has also been,
engaged in the pickling of steel for customers.
Changes in Capitalization—Previous to entering into negotiations for
the present financing, the corporation had an authorized capital stock
consisting of 1,000 shares of 4M% cumulative preferred stock (par $100)
and 5,000 shares of common stock (par $10), of which the entire 1,000
shares of preferred stock and 4,500 snares of common stock were issued
and outstanding.
The capital structure was revised to provide for one class of common
stock consisting of 350,000 shares authorized (par $1), in lieu of <he 5,000
shares of common stock (par $10), and to provide for the exchange of
the previously outstanding 4,500 shares of common stock on the basis of
22 shares of the new common stock for each share of the old
common
The capitalization of the company,
financing, will be as follows:
of
upon
undistributed
for that portion of the above period falling within the
calendar
the amount of such tax, if any, cannot be determined until
the undistributed net income for the year ended Dec.
31, 1936 is finally
SiSccrtcilnod
net income
charged
of debt
discount and
expenses
on
botn issues for 2 months
against current income, thereby increasing charges
against
by approximately $117,000 over the amount chargeable in
respect of the new 3H% issue alone.
d In connection with the sale of $10,000,000 par value
cumulative pre¬
ferred stock, 4H % series, of the Dayton Power & Light Co., it was
necessary
to complete the sale of this issue prior to the redemption of the
cumulative
6% preferred stock of the Dayton Power & Light Co. and dividends on
both issues for approximately 15 days were
charged against current income,
thereby increasing charges against current income by approximately
$19,500 over the amount chargeable in respect of dividends on the new issue.
The premium of $10 per share paid on the cumulative 6% pref.
stock, which
was redeemed July 1, 1936, is carried in deferred charges and will
be amor¬
tized by annual charges to surplus as approved by the Public Utilities Commmission of Ohio.—V. 142 p. 4017.
;
current income
Inc.—Preferred Div.—
The directors have declared
1935
$48,966,490 $43,587,041
29,446,789
25,976,828
5,289,281
4,393,937
Op era tinge xp ernes and taxes b
..Provision for retirements and depletion
Net
by two-thirds of preferred holders.
The program calls for retirement Dec. 1 at 115 of the 6H% pref. stock.
Company also contemplates calling for redemption at 104H. $2,100,000
of Northern Connecticut Power Co.
5>3% 1st mtge. bonds, due 1946;
$540,000 of Bristol & Plainville Tramway Co. 4^% 1st mtge. bonds, due
1945, at par; $1,000,000 of Waterbury Gas Light Co. 1st mtge. 4J^%
bonds, due 1958, at 105; $40,000 of Windsor Locks Water Co. 1st mtge.
5% bonds, due 1951, at 105, and $375,000 of Rockville-Willimantic Lighting
Co. series D and series E 1st & ref. 5% mtge. bonds, due
1971, at 105.
—Y. 143, p. 425.
^
of C. G. & E.
s
_
which
must be approved
completion
Authorized
Common stock ($1
*
par)
the
stock.
present
Outstanding
—*350,000 shs.
234,000 shs.
Humphries, Angstrom & Co., Louis J. Epps and Sol M. Gerson have
16,250 and 16,250
"
"
,
common
stock
of
any time, or -from
July 3, 1937.
Earnings and Dividends—For the eight months of the company's fiscal
year ended May 31, 1936, net earnings, after depreciation and provision
for Federal income tax, amounted to $50,043, equivalent to 21 cents
per
share on the capital stock, to be outstanding upon the
completion of this
Luc
tujuipuuj
a..
^pu
i'v.
uuwtv,
u.
„uv,w
V,
,u
pwiv,
c»v
time to time, until
financing.
No dividend policy has been formulated by the board of
directors, but
be given consideration in the near future.
Purpose of Issue—It is anticipated that the proceeds, after payment
of commissions, of the 135,000 shares offered by the
company will be
employed by the company approximately as follows:
For retirement of
will
Sreferred stock, additional additional inventory, $55,000; additional certain
$106,000; equipment, $10,000; for payment of buildlgs,
$30,000;
obligations (land contract, &c.) and for additional working capital, $28,500.
Contact
Publishing Corp.—Registers with SEC-
See list given on first page of this
department.
Financial
1226
1,768,307
1,768,307
2,874,130
249,106
2,085,068
3,071,204
280,254
3,147,483
Prem. in course of
H collection
Acer, int., &c
Cask
$
Business during July and
prems__20,226,509 20,663,596
Loss in process of
adjustment
3,081,274 2,983,956
Unearned
87,002,439 68,828,015
Real estate
and
Res. for taxes
Res.
Cash
1,113,775
1,600,000
1,169,757
4,873,989
4,873,989
61,575,722 44,690,189
1,251,800
expenses
All other claims—
for dividends
capital
Net surplus
1,800,000
1,169,757
Total
----93,979,051 77,095,263
by the company, household and electrical appliances
larly heavy gains.
The movement toward diversification
tured
See list
given
on
department.-<~V. 141, p. 1092.
first page of this
The directors have declared a
ji—^
Dividends—
dividend of 15 cents per share on the com¬
stock, payable Sept. 26 to holders of record Sept. 12. This payment
the resumption of dividends on the issue as no disbursements
had been made since Aug. 1, 1931, when a dividend of 20 cents per share
was paid.—V. 141, p. 2432.
mon
will
mark
Inc.—Registers with SEC—
Creameries of America,
See list
given on first page of this
Dominion Stores,
Action—
Following the recent monthly meeting of directors, it was stated that no
action had been taken on the payment of a dividend on the no-par common
stock.
While not officially announced, it was understood that dividend
postponed until directors obtain fuller understanding of
undistributed earnings.
A dividend of 50 cents per share was distributed on July 1, last, and one of
25 cents was paid on July 1,1935. Prior to thislatter payment no dividends
had been distributed since April 1, 1930, when a regular quarterly dividend
of 25 cents per share was paid.—V. 143, p. 1071.
consideration
was
the new Federal surtax on
Crown Cork & Seal
——
$1,673,087
Operating profit
116,559
amortization.
282,149
Depreciation
income
Other expenses
taxes
183,186
;
54,641
(net)
25
—
Feb. 22
Net
yl935
$5,221,762
3,895,245
$1,326,517
141,418
248,520
123,335
78,074
dividends
$735,170
196,239
185,307
$1,036,552
196,239
185,307
profit
Common
;
Mar. 21
—-
April 18May 16
June
,
Crown Zellerbach
^
Corp.—Bonds Called—
Atotalofi$750,000 10-year 6% gold debentures series of 1930 have been
called for redemption on Sept. 1 at 101 and interest.
Payment will be
made at the Bank of California, N. A., San Francisco, Calif., at the Na¬
tional City Bank of New York, New York City, or at the Continental
Illinois National Bank
&_Trust Co. of
Crucible Steel Co. of
have declared
The directors
Chicago.—Y. 143,
America—$1
per
the
on
to holders of record
7%
share on account of
cum.
Sept. 16.
March 31, last and on Dec. 31, 1935, and a
Cutler-Hammer, Inc.—Larger Extra Dividend—
mon
stock,
a
share in
the com¬
value, both payable Sept. 15 to holders of record Sept. 5.
was paid on June 15, last —V. 143, p. 1071.
regular quarterly dividend of 25 cents per share on
no par
1,511,080
1,484,725
revenues
779,326
884,445
$442,374
74,442
$966,936
113,742
$810,284
91,741
$567,033
Other income.Total. .1
$516,816
$1,080,678
265,206
51,908
72,951
68,733
104,000
$902,025
288,613
79,285
48,180
$417,348
141,408
266,933
-
z$414,817
141,522
261,675
$659,564
142,806
259,825
$485,947
162,696
266,163
See
Depreciation
Federal taxes
Net
—
-
Provision for retirements
Taxes
_
_
—_
_
—
5,588,823
147,818
244,152
361,945
,
549,175
936,590
1,309,709
income
dividends-.
Common dividends
$708,428
Gross
174
$708,442
194,685
Interest and amortization charges.
Preferred
$3,111,022
14
corporate income
$2,124,914
488,000
1
$376,757
Balance _«•_
Note—No provision has been made in respect to
tributed net income.
$1,636,914
Federal taxes on undis¬
preferred stock, 4K % series, was sold in
June, 1936 and the (6 % cumulative) preferred stock was redeemed on July 1,
1936." As it was necessary to complete the sale of the new issue prior
to the redemption of the cumulative 6% preferred stock, preferred divi¬
dends shown above include dividends on both issues for about 15 days,
thereby increasing such dividends by approximately $19,500 over the
amount chargeable in respect of dividends on the new issue.—V. 143,
p. 1071.
A
new
issue
of cumulative
Delaware & Bound Brook RR.—New President, &c.—
John A. Campbell, was on Aug. 13 elected President of the company to
succeed the late E. C. Knight Jr.
Mr. Knight had been a director of the
company 50 years and
John W. Drayton of
President since 1893.
Philadelphia was elected Vice-President, succeeding
Mr. Campbell.
C. Stevenson Newhall of Philadelphia was chosen a director
—V. 81, p. 210.
Detroit
Compensating Axle Corp.—Registers with SEC—
See list given on first page of
Dividend Shares,
this department.
Inc.—Registers with SEC—
See list given on first page of
Dixie-Vortex
this department.—V. 143, p. 919.
Co.—Write-off Plan Modified—
Plans of the company for writing down its goodwill and patents have
been modified because of the Federal surtax on undistributed earnings, it was
announced
Aug. 17 by Robert C. Fenner, President.
Instead of writing off goodwill and patents to the extent of $1,315,340,
on
$813,340, leaving a balance of $500,000 on the
This is in addition to the amount still shown on
the company's consolidated balance sheet as the actual cost of patents to
the company less reserves.—V. 142, p. 4019.
the
write-down
will
be
books, Mr. Fenner said.
Doehler
dend in 11
Die
Casting Co.—To Pay First Common Divi¬
Years—
t
•
Assets—
Inventories
______
Investments
a
Fixed
assets
Deferred charges..
Common
$452,267
705,405
$428,463
781,163
1,663,487
368,267
3,105,106
61,550
b23,770
Aocts. receivable.
stock...
1,399,375
435,725
d Common stock..
1,350,000
290,000
payable.
1,350,000
210,458
Accrued payrolls &
Prov. for Fed. tax.
Earned surplus
134,872
129,988
2,753,749
.—$6,431,808 $6,346,667
Total
$6,431,808 $6,346,667
83,000
2,715,857
225,350
taxes
3,239,828
63,582
c50,487
$1,767,600 $1,767,6Q0
8% pref. stock
Accounts
1935
1936
Liabilities—
1935
1936
-
a After
depreciation,
b 2,067 shares sold to employees in June 1936.
Reacquired for sale to employees at cost, 4,400 shares,
d Represented by
270,000 shares no par value.—V. 142, p. 124.
c
Chemical & Iron Co.—Sale, &c.—
below —V. 141, p. 2274.
Ducktown
(E. I.) du Pont de Nemours & Co.—Extra Dividend—
The directors on
Aug. 17 declared an extra dividend of 70 cents per share
quarterly dividend of 90 cents per share on the
in addition to the regular
stock, par $20, both payable Sept. 15 to
Previous extra cash distributions were as follows:
common
holders of record Aug. 26.
70 cents on June 15, last;
Sept. 14, 1935; 15 cents on Dec. 15, 1934; 50 cents on Sept. 15,
1934, and 75 cents per share paid on Dec. 15, 1933. In addition a stock
dividend of 1-55 of a share of General Motors Corp. common stock for each
share of du Pont common stock held, was paid on Dec. 27,1935.
on
Executive Committee—
The company
announced that A. Felix du Pont has been appointed a
member of the executive committee.—V.
The
Continental
transfer agent
p.
143,
p.
753.
Corp.—Transfer Agent—
Duro-Test
Bank & Trust
Co. of New York has been appointed
for 250,000 shares of $1 par value common stock.—V. 143,
1074.
Duquesne Light Co.—Earnings—
12 Mos. Ended June 30—
1936
.
Operating revenues,
Operating expenses, maintenance & all taxes
—
1935
$26,1^9,028 $25,661,642
10,649,205
10,841,528
(before approp. for retir. res)__. .$15,489,822 $14,820,114
877,391
.
907,074
(net)
Net oper. rev.
Other income
Net oper; rev. & other inc. (before approp. for
retirement reserve)
-$16,367,213 $15,727,188
Appropriation for retirement reserve
,2,091,122
2,052,931
Gross income.
$14,276,091
___
Rents for lease of electric
177,025
2,503,305
properties
Interest charges (net)
^
Amortization of debt discount & expense
Appropriation for
176,170
3,152,431
306,024
167,280
500,000
special reserve
250,000
85.275
101,410
$10,704,462
$9,826,965
13,151,388
25,320,413
Other income deductions
Net income
Surplus, beginning of period
$23,855,850 $35,147,378
Total
1,375,000
Common stock dividends
Miscellaneous charges (net)
...
-
8,611,312
3,168
_
1,000,000
1,375,000
8,611,312
Appropriated from surplus for special reserve
5% cum. 1st preferred stock dividends
Balance
$13,674,257
3,849
$13,866,369 $24,157,217
Adj. of charges previously made against surplus
arising from revaluation of prop., representing
unamort. debt disc. & exp. & prem. on
bonds
red., & comm., net prem., exps. & divs. on
redemption and sale of pref. stocks
I.
11,005,829
i
dividend of 50 cents per share on the
stock, payable Sept. 30 to holders of record Sept. 15.
This will
The directors on Aug. 19 declared a
common
$9,007
270,000
---
Cash
$3,111,196
986,282
$513,757
137,000
dividends.
x
33,267
$11,620
$256,933
$57,088
270,000
270,000
270,000
$1.02
$1.01
$1.84
$1.20
x
Including depreciation of $265,900 in 1936 and $266,334 in 1935.
y Represented as follows; Share of net losses of current and prior years of
Apex Oriental Corp., 50% owned, and New Madison Corp., wholly owned
subsidiary, not consolidated, $40,704, and other deductions, $36,028.
z Does not include $13,979 loss of New Madison Corp., wholly owned,
and $11,718 share of loss of Apex Oriental Corp., 50% owned.
Balance
Shs .com .stk .out. (no par)
Earnings per share.
35 cents
Other income.
See
x
y76,733
See Tennessee Corp.
1,385,569
Maintenance
1933
$9,262,591
7,571,913
880,393
731,024
Operating income
3 Months
12 Months
$2,847,913 $11,495,320
Period Ended June 30,1936—
Subs.)—Earnings-
$466,215
100,817
Operating expenses..
Dayton Power & Light Co. (& Subs.)—Earnings—
Operation
1,555,614
1,505 417
1,544,037
1,584,054
1,512,522
1,441,312
1936 \
1935
1934
——x$10,178,518 x$9,314,777 $10,995,713
8,981,279
8,093,076
9,144,332
Cost of sales.
An extra of 25 cents
Gross
1,360,939
1,350,741
1,340,440
1,313,961
Years End. May 31—
Net sales.
Total
The directors have declared an extra dividend of 50 cents per
addition to
1933
$1,398,267
1,501,638
Consolidated Balance Sheet May 31
pref. stock, par $100, payable Sept. 30
A like payment was made on June 30 and
dividend of 50 cents per share
was paid on Oct. 15, 1935, this latter being the first distribution made on
the preferred stock since March 31, 1932, when a regular quarterly dividend
of $1.75 per share was paid.—V. 143, p. 918.
accumulations
1934
$1,373,111
1,481,037
1,528,273
1,505,736
1,543,288
1,557,863
1,488,014
1,372,530
1,463,362
—
p. 752.
Accumulated Div.—
dividend of $1
a
1935
1.517,152
-
13
July 11
Aug.
8
J
—V. 143, p. 1074.
Preferred
$655,006
$353,624
Earns, per sh. on 384,237 shs. com. stk. (no par)
$2.19
$1.40
x Crown
Cork & Seal Co., Inc.; Western Stopper Co., and Acme Can
Co.
y Crown Cork & Seal Co., Inc.* and Western Stopper Co.
Note—No/ provision was made for Federal surtax on undistributed
Surplus
profits.—V. 143, p. 918.
^
$1,226,611
1,352,553
1,417,909
1,385,259
1936
$1,413,478
1,452,088
1,513,367
1,510,891
Deductions
Preferred dividends
...
-
Ltd.—Sales-—
Duplan Silk Corp. (&
5,787,166
Costs and expenses
Federal
Jan.
:
xl936
$7,460,253
6 Months Ended June 30—
Net sales.
Interest and
Four Weeks Ended—
Co., Inc.—Earnings—
[Including Domestic Subsidiaries]
.
.
better than 3 to 1*; with
$500,000.—V. 143 p. 1074.
Investments, Ltd.—Accum. Div.
The directors have declared a dividend of 25 cents per share on account of
accumulations on the 5% cum. red. preference stock, par $50, payable
Sept. 1 to holders of record Aug. 20.
This compares with $1 paid on June 1.
last, 25 cents paid on March 2, last, Dec. l and Sept. 1, 1935; 50 cents paid
on June! 1, 1935; 25 cents per share paid on March 1, 1935, and Dec. 1 and
Sept. 1, 1934; 33 1-3 cents per share on June 1, 1934, 25 cents per share paid
quar. from Aug. 1, 1932, to and incl. Feb. 1, 1934, and 50 cents per share
paid on May 1, 1932, prior to which the company made regular quarterly
distributions of 62cents per share.
Accruals after the Sept. 1 payment
amounted to $5.62H per shares.—V. 142, p. 3340.
department.—Y. 143, p. 1071.
Crosley Radio Corp.—No Dividend
„
...
securities exceeding
Dominion & Scottish
with SEC—
(W. B.) Coon Co.—To Resume Common
satisfactory.
current liabilities is
The ratio of current assets to
cash and Government
-v"'™'•
Cook Paint & Varnish Co.—Registers
making particu
has progressed
volume
of the
on the
further, with the automotive industries, notwithstanding the larger
of orders from this source, accounting for only between 40 and 45%
total to date this year.
The outlook for the balance of the year,
93,979,051 77,095,263
—
company reports.
ahead of business during
August is running 50 %
in 1935, maintaining the rate of improvement disclosed
in the six-months report which showed earnings of $2.07 a share on the
common stock as compared with $1.43 in the first half of 1935.
The increase in business has been general throughout all lines manufac¬
these two months
basis of contracts on hand, is
Total
—V. 142, p. 457.
the common stock since
payment made by the company on
Feb. 1, 1925, when a similar dividend was distributed.
In connection with the current dividend declaration, the
1935
$
Liabilities—
$
$
Bonds & stocks
1936
1935
1936
be the first
-Balance Sheet June 30—
Continental Insurance Co.
Aug. 22, 1936
Chronicle
Surplus, end of period.
-V. 143, p. 270.
.$13,866,369 $13,151,388
Volume
143
Financial
Durham Hosiery
June 30 '36
$46,727
3,404
$31,199
$18,932
$50,131
23,816
15,103
38,919
$7,383
income.,.
Total income
charges against income (incl.
non-operating property expense)
__
profit.^.™
East Bay Street
1 '36
$17,621
1,311
$3,829
$11,212
$29,106
2,093
Other
Net
6 Mos.End.
3 Months
June 30 '36 Mar.
Period Ended—
Miscellaneous
Company produces roofing products for
Mills—Earnings—
Operating profit
.
Rys., Ltd.—New Name, &c.—
Effective Aug. 1, 1936 thG articles of
incorporation of East Bay Transit
Co.,
a
wholly-owned subsidiary of Railway Equipment & Realty Co., Ltd.,
amended in the following respects:
were
»
(1)
The corporate name was changed from East Bay Street Rys., Ltd.,
to East Bay Transit Co
1
(2) The authorized capital stock was reduced from 91,000 shares to
70,000 shares of no par value.
(There is no change in the outstanding
shares, all of which are owned by Railway Equipment & Realty Co., Ltd.)
(3) The sections of the articles having to do with the powers of the cor¬
poration
amended
were
to
specifically
coaches.
*
include
the
operation
of motor
*
•
(4)
The section dealing with the board of directors was changed to read
"nine directors" instead of "seven,"- to conform to the
by-laws in this
respect.
East Bay Transit Co.—Name
Changed—
See East Bay Street Rys., Ltd.
Eastern
and
Gas
&
Fuel
Associates—Admitted
to
Listing
Registration—
The New York Curb
Exchange has admitted to listing and registration
bonds, series A, 4%, due March 1,
the 1st mortgage and collateral trust
1956.—V.
143,
Eastern
p.
270.
Steamship Lines, Inc.—New Stock Authorized—
Preferred—
To Redeem Old
President A. B. Sharp in a letter sent to holders of
non-par value pre¬
ferred stock stated in part as follows:
The stockholders have authorized a new class of no
par value convertible
preferred stock.
This stock has the right to vote, is entitled to cumulative
dividends at the rate of $2 per annum and to $50 and accumulated
dividends
upon liquidation in preference to the common stock.
It is subject to call
in whole or in part by the corporation on
any dividend date on 30 days'
notice at $52.50 and accumulated dividends.
It has the right at any time
before call for redemption to conversion into common stock at the
rate of
3 1-3 shares during one year from
Oct. 1, 1936, three shares during the
following and 2)4 shares thereafter.
The preferences, vot¬
ing powers, restrictions and qualifications are set out in the stock
provi¬
sions contained in the by-laws.
Directors have voted to offer this new stock to the holders of the
non¬
par value preferred stock in exchange share for share, the
right of exchange
to expire Sept. 18, 1936.
Directors have voted to call for redemption on
Oct. 1, 1936 all of the non-par value preferred stock not
deposited for
exchange and outstanding Sept. 18, 1936. (See further details below.)
Holders of non-par value preferred stock are
being notified that all out¬
standing shares of non-par value preferred stock not deposited for
exchange
two years next
for
no par value convertible preferred stock as at
the close of business
Sept. 18, 1936 are called for redemption on Oct. 1, 1936 at the
redemption
price thereof, $55 per share, in exercise of the right of redemption
provided
for in the corporation's by-laws and under and in accordance
with the vote
of the board of directors
duly adopted at a meeting held on Aug. 13, 1936.
The Old Colony Trust Co., 17 Court St.,
Boston, Mass., transfer agent
corporation, will make payment for the shares of non-par value
preferred stock called for redemption, on or after Oct. 1,1936, upon-resentaof the
tion of certificates.—Y.
143,
Ebasco Services,
1075.
p.
:
*
Inc.—Weekly Input—
For the week ended Aug. 13, 1936, the kilowatt-hour
system input of the
are subsidiaries of American Power &
Light Co.,
Electric Power & Light Corp. and National Power &
Light Co.. as compared
operating companies which
with the corresponding
week during 1935,
was as
i
Operating Subs, of:
1936
American Power & Light Co—113,892,000
Electric Power & Light Corp.. 52,305,000
National Power & Light Co.__
—V.
73,430,000
follows:
*'
*
Increase
Amount
1935
100,642,000
43,511,000
65,624,000
143, P. 1075.
13,250,000
8,794,000
7,806,000
%
13.2
20.2
11.9
on
Light, Heat & Power Corp.—Merger Approved—
See New York State Electric & Gas
Corp.—V. 143,
p.
919, 920.
Empire Gas & Electric Co.—Merger Approved—
See New York State Electric & Gas
Corp.—V. 143,
p. 920.
Empire Power Corp.—Accumluated Dividend—
The
directors
have
declared a dividend of 50 cents
per share on the
cum. partic. stock, no par value, payable Oct. 1 to holders of
record
Sept. 15.
A dividend of 40 cents per share was paid on July 1 and March
16,
last, and compares with 75 cents paid on Nov. 9, 1935 and 50 cents
paid on
May 20, 1935, and on Nov. 10, 1934.
Quarterly distributions of 56 cents
per share were made on this issue on Jan. 1 and April 1, 1932, none there¬
after until May 10, 1934 when a dividend of 50 cents
per share was made.
A record of dividends paid on the partic. stock follows:
July 1926, 40c.: Oct. 1926 to Oct. 1927, 50c. quar.; July 1928 to April
1930, 50c. quar.; July 1930, $3.04; Oct. 1930, 56c.; year 1931, $2.25
year
1932, $1.12.—V. 142, p. 3850.
$2.25
♦
European Mortgage & Investment Corp.—Distribution
.
Thd Old Colony Trust Co. has received an amount of cash
equal to
$36,985 per $1,000 bond for distribution to the holders of the first lien
gold farm loan sinking fund bonds, series A, 7)4 %, dated Nov. 1,
1925,
due Nov.
1, 1950.
This distribution is ih addition to the
payment of
$650.42 already applicable to these bonds
The corporation is in process of reorganization under
Section 77-B of
the Bankruptcy Act.—V. 142, p. 1289.
Ex-Cell-O Aircraft & Tool
Corp.—To Be Added
to List—
The New York Curb Exchange will list 19,111 additional shares
of
com¬
stock, $3 par, upon notice of issuance.—V. 143, p. 584.
mon
(The) Fair—Earnings—
6 Months Ended July 31—
Net
sales-
>
-----
Net income after int., deprec., Fed. inc. taxes, &c.
Earns, per sh. on 35,000 shs. 7% pf.stk. (par $100)
—V.
1936
1935
$8,043,578
$7,548,637
x21,466
$0.61
loss74 532
'Nil
142, p. 2994.
Federal Asphalt Products
The company,
with offices
Co., Detroit—Stock Offered—at 1749
Penobscot
Bldg.,
Detroit, in conjunction with local brokers, in June last
offered 64,500 shares of common stock at $1
per share
(being the remainder of an original offering of 293,OCX) shares).
Stock offered to residents of State of Michigan
only.
Capitalization—Authorized, 500,000 shares; issued, 207,000 shares; for
public participation, 293,000 shares.
History—Company is the only manufacturer of asphalt roofings and
shingles in the State of Michigan.
J
"
*
" J
Company occupies a modern
main junction siding of the 11
Ave
,
Detroit.
.
poses.
Federated Department Stores, Inc.— Preferred Stock
Offered—Lehman Brothers, New York, on Aug. 20 offered
125,000 shares of 434% convertible preferred stock (par
$100) at $104 per share.
A prospectus dated Aug. 20 affords
the following:
The
stock is convertible
(until the fifth day prior to redemption) into
common stock at $40 on or before Oct.
1, 1938, $50 thereafter and on or
before Oct. I, 1940, $60 thereafter and on or before Oct.
1, 1942, and $70
thereafter and on or before Oct. 1, 1944, provision being made to protect
against dilution on certain contingencies.
Cumulative dividends from Oct.
*1, 1936, payable Oct. 31, 1936 and quarterly thereafter on last days of
January, April, July and Oct. Redeemable in whole or part at any time at
$110 on or before Oct. 1, 1938, $107.50 thereafter and on or before Oct.
1,
1939, thereafter and on or before Oct. 1, 1946 $107.50 less $0.50 for each
full year elapsed after Oct.
1, 1939 until Oct. 1, 1946, and thereafter $104,
together, in each case, with accrued and unpaid dividends upon 30 days'
prior notice.
On or before each June 1 beginning 1938 the corporation as a
sinking fund shall acquire for retirement (except when in default in dividends
or when there is no available
surplus) a number of 4 M % convertible pref.
shares, the cost of which to the corporation, exclusive of accrued dividends,
is the greater of (a) $140,000 or
(b) 3% of consolidated net earnings after
taxes (as defined) of the
corporation and its subsidiaries for the preceding
fiscal year after deducting 4)4
% convertible pref. dividends accrued during
such year, whether or not
paid.
Company—Incorp. in Delaware on Nov. 25, 1929.
Corporation is a
holding company owning, directly or indirectly, securities of corporations
engaged generally in the conduct of department and specialty stores.
The
principal subsidiaries, the location of their principal stores, and the per¬
centage of voting power owned in each, are as follows:
Percentage of Voting Power Owned
By Corporation
By Subsidiaries
Directly
of Corporation
Abraham & Straus, Inc.,
Brooklyn, N. Y_
88.54%
Bloomingdale Holding Corp
100%
Bloomingdale Bros., Inc., New York, N. Y.
5.23%
62.17%
Wm. Filene's Sons Co., Boston, Mass
68.55%
R. H. White Co., Boston, Mass
100%
Continental Clothing Co., Boston, Mass__
100%
F. and R. Lazarus & Co., Columbus, Ohio_*
98.76%
John Shillito Co., Cincinnati, Ohio
81.98%
All the principal stores operated
by the above-mentioned subsidiaries are
department stores except that operated by Wm. Filene's Sons Co., which is
a specialty store
selling men's, women's and children's clothing and acces¬
sories and also to some extent other
merchandise, and that of Continental
Clothing Co. which is a specialty store for the sale of men's and boys'
clothing and accessories.
While some of the stores are considerably larger
than others, each of the
principal stores occupies an important position in
retailing in its city.
'
Abraham & Straus, Inc., and Bloomingdale Bros., Inc.,
through Delivery
Service, Inc. a subsidiary in which each owns 50% of the stock, operate a
service combining joint
receiving, warehousing and finishing of furniture,
and a delivery service partially
serving their delivery requirements. Abra¬
ham & Straus, Inc., has a branch store for the sale of household
appliances
in Jamaica, Long Island, N. Y., and Wm. Filene's Sons Co. has branch
stores in Worcester,
Mass., and other cities in New England.
R. H.
White Co. has a branch store in Cambridge, Mass.
In practically all the
stores certain departments of minor importance are leased to others on
a
basis of a percentage of sales.
Use of Proceeds—The corporation intends to apply the net
proceeds
received by it from the sale of the shares of 4)4 % convertible
pref. stock,
estimated at $12,518,087 after
deducting expenses estimated at $106,912,
for the following purposes:
(a) $2,500,000 for the acquisition at $100 per share of 25,000 shares of
454% pref. stock (par $100) of Abraham & Straus, Inc., the funds so
provided to be appned by Abraham & Straus, Inc. (1) in the amount of
$1,994,630 to the redemption as soon as practicable of the 7% cumulative
pref. stock of that company at $110 per share and divs.. an aggregate par
value of $1,813,300 being outstanding, and (2) in the amount of
$505,370
to additions to working capital.
It is contemplated that
approximately
$275,000 from working capital of the company will be applied to the con¬
of a new building adjacent to its main store on Fulton
St.,
Brooklyn, N. Y., the new building will not be used in the department store
struction
(b) $3,500,000 for the acquisition at $100 per share of 35,000 shares of
Aug. 14 declared an extra dividend of 15 cents per share
in addition to the regular quarterly dividend of 25 cents
per share on the
common stock, no par value, both
payable Sept. 1 to holders of record
Aug. 20.—V. 143, p. 1075.
Elmira
1227
type of building and in
wide variety,
including asphalt shingles in a large assortment of designs
and colors, roll
roofings, waterproof felts, &c.
In addition to the wellestablished roofing market, the company is interesting itself
particularly
in the
developing of outlets through motor car manufacturers.
Purpose—Approximately one-half of the proceeds of this financing will
be used to
pay off indebtedness and the remaining half for corporate pur¬
every
business of the company.
Electrographic Corp.—Extra Dividend—
The directors
Chronicle
5% pref. stock (par $100) of Bloomingdale Bros., Inc., the funds so pro¬
vided to be applied by Bloomingdale Bros., Inc. (1) in the amount of $3,048,870 to the redemption as soon as practicable of the 7% cumulative
pref. stock of that company at $110 per share and divs., an aggregate par
value of $2,771,700 being
outstanding, and (2) in the amount of $451,130
to additions to working capital.
(c) $3,500,000 for the acquisition at $100 per share of 35,000 shares of
454% pref. stock (par $100) of Wm. Filene's Sons Co., the funds so pro¬
vided to be applied by Wm. Filene's Sons Co. to the redemption as soon as
practicable of 31,818 shares of the 6)4% cumulative pref. stock of that
company at $110 per share and divs., an aggregate par value of $4,512,300
being outstanding.
(d) $3,000,000 for the acquisition at $100 per share of 30,000 shares of
454 % pref. stock (par $100) of the F. and R. Lazarus & Co., the funds so
provided to be applied as soon as practicable by the F. and R. Lazarus &
Co. (1) in the amount of $660,000 to the redemption as soon as practicable
of the 6)4 % cumulative pref. stock of that company at $110 per share and
divs., an aggregate par value of $600,000 being outstanding; (2) in the
amount of $600,000 to the payment of outstanding notes of the
company,
bearing interest at 134 %. 154 % and 2 )4 % per annum, held by First Na¬
tional Bank, Chicago, such notes representing loans incurred for the purpose
of retiring shares of 6)4% cumulative pref. stock of the company; (3) in
the amount of approximately $240,000 to improvements of or additions to
tne property of the company, any balance to be applied to additions to
working capital; (4) in the amount of $1,500,000 to the acquisition at
$100 per share of 15,000 shares of 454 % second pref. stock of John Shillito
Co., a subsidiary of F. and R. Lazarus & Co., the funds to be used by it
in the amount of $540,000 to pay outstanding notes of John Shillito Co.
(notes for $350,000 bearing interest at 254% per annum, being held by
First National Bank, Chicago, a 3% demand note for $50,000 being held
by Central Trust Co., Cincinnati, Ohio, and notes for $140,000 being held
by F. and R. Lazarus & Co., all such notes representing loans incurred by
John Shillito Co. for expenditures for improvements and extensions of or
additions to its property, plant and buildings or the refunding of out¬
standing indebtedness); and in the amount of approximately $750,000 to
improvements and extensions of or additions to its plant and buildings and
the balance to additions to working capital.
Any balance of such net proceeds not necessary for the aforesaid purposes
will be added to working capital of the corporation.
The preferred stocks so to be acquired by the corporation from subsi¬
diaries will be purchased pursuant to agreements between the corporation
and such subsidiaries dated July 30, 1936.
Each subsidiary agrees among
other things to take the necessary action for the redemption of its out¬
standing pref. stock and to deposit, in a special bank account, amounts
sufficient for such redemption out of the proceeds of the sale of its new
pref. stock and, to the extent of accrued unpaid dividends on its out¬
standing pref. stock to the date of redemption, out of other corporate
funds.
In
addition,
the
agreement
between
the
corporation
and
Wm. Filene's Sons Co. provides that the agreement is subject to such
rights
as E. A. Filene or his nominees
may have or be granted to acquire shares of
such stock by exchange of
outstanding pref. stock or by purchase.
The
pref. stock of John Shillito Co. will be purchased pursuant to an agreement
between the companies dated Aug. 12, 1936.
Capitalization—The capitalization of the corporation as of Jan. 31, 1936,
consisted of an authorized amount of 2,000,000 shares of common
stock,
(no par), of which 914,390 shares were outstanding.
Upon conversion at
the initial rate of all the shares of
4)4% convertible pref. stock (now
offered) 312,500 shares of common stock would be issuable.
The 125,000 shares of
4)4% convertible pref. stock (now offered) are
part of the pref. stock of the corporation, authorized in the amount of
160,000 shares.
Financial
1228
3,1936, the corporation exchanged 25 25-37 shares of its common
the common stock of F. and R. Lazarus & Co.
On
July 7. 1936, the corporation exchanged 150 shares of its common stock
for 150 shares of the common stock of ffm
Filene's Sons Co. On July 28,
1936, the corporation authorized the exchange of 150 shares of its common
stock for 150 shares of the common stock of Wm. Filene's Sons Co.
On April
stock for 50 shares of
1935
1934
for Fed-
tax)
— pref. stocks of subs, owned
by other interests.
Portion of net income applicable to
to minority interests in common
stocks of subsidiary. —— —;
•
eral
Divs.
1936
departs.)$82,551,16o $89,123,523 $91,638,295
income
tificates held by
have
2,308,447
143, p. 756.
certificates.—V.
Gallagher Drug Co.—Pays $3.50 Back Dviidend—
The company paid a dividend of $3.50 per share on the account of accu¬
7% cum. preferred stock, par $100, on Aug. 15.
amount to $7 per share.—V. 135, p. 3363.
■ .
mulations on the
ages now
2,508,607
995,784
813,235
1934
1935
1936
Years Ended May 31—
on
1,036,484
Arrear¬
Gamewell Co. (& Subs.)—Earnings—
„
2,775.257
able to abandon the line, the road also asked the Recon¬
Finance Corporation to release from the lien of receiver's cer¬
it that portion of line to be abandoned.
The receivers
outstanding a loan of $627,075 from RFC, secured by receivers'
In order to be
struction
Ended Jan. 31
Sales and Income Years
Net sales (incl. sales of leased
Net income (after provision
1936
22,
Aug.
Chronicle
—
1933_""
$222,615
x$68,487
$168,780
85,311
96,553
83,683
$10,052
102,828
12,504
-.—
$229,237
58,435
Operating loss-
$143;926
$72,227
110,342
$138,932
104,788
$255,145
32,967
$182,569
$243,720
150,843
$288,112
$326,980
Other income—
'
226,887
164,315
294,981
Loss
—
D epreciation
Net income applicable to common
stock of corporation
——'—
$1,148,348
$1,468,483
As decribed above it is proposed to retire pref. stocks of subsidiary com¬
panies of a par value of $9,697,300, the annual dividend requirements on
which amount to $653,249.
It is also proposed to issue $1,500,000 4 H%
pref. stock of Wm. Filene's Sons Co. to other interests, the annual dividend
requirement on which will be $71,250.
Giving effect solely to the resulting
of $581,999, and making appropriate adjustments in portion
applicable to minority interests in common 3tocks of subsidiary
companies (taking into consideration the issuance of new preferred stocks
of subsidiary companies), the net income applicable to the 434% conv.
pref. stock of the corporation would be computed as follows:
of net income
Arrived at
x
$2,508,607
231,235
S.
Gov.,
Accounts
&
State
1,277,861
8,601
8,120
91,756
accts.
5% first pref. stock of John Shillito Co.
The annual dividend requirement upon the 125,000 shares of 4 34%
convertible pref. stock offered will be $531,250.
Underwriting—By an agreement dated Aug. 17, 1936, the corporation
has agreed to sell to Lehman Brothers, the sole principal underwriter, and
Lehman Brothers has agreed to purchase, the 125,000 shares of 434%
convertible pref. stock.
The price to be paid to the corporation by Lehman Brothers is $104 per
share, and the corporation agrees to pay to Lehman Brothers on the date
of delivery a commission of $3 per share.—V. 143. p. 1075.
Other
x
.
Bal. Sheet June 30—
Fidelity & Casualty Co. of N. Y.Assets—
x
Bonds &
Real estate
1936
Liabilities—
$
$
stocks.35,545,440 29, 069,826
197,673
195,540
of collection
5,495,217
182,071
on
5, 483,341
186,929
2,224,793
230,244
overdue),
2, 344,749
130,510
for
Res.
for
1,412,471
1,402,785
900,000
850,000
2,250,000
-.'.10,304,933
2,250,000
5,703,029
other
all
All other assets
38,822
1,996,649
4,176,349
290,531
397,092
under lease con¬
tract
148,548
other assets
charges-
80,436
assets—
1,723,174
63,290
1,751,489
& franchises.
1
1
Capital
Pat.
399,341
572,333
580,957
investments
Deferred
y
152,878
391,228
(not curr.)
receivables &
'
Total.
—
—
Total
—$5,989,202 $6,114,224
*
Represented by 119,304 no par shares,
y After
$1,078,736 in 1936 and $1,199,381 in 1935.
x
of
$5,989,202 $6,114,224
depreciation reserves
Directorate Increased—
Stockholders at their recent annual meeting
elected three new directors,
increasing the board from 10 to 13.
The additional directors are: William
P. Ellison, Rodolph S. Oliver and Winslow L. Webber.—V. 143, p. 756.
Gatineau Power Co.
Total gross revenue
other income
(& Subs.)—Earnings—
1936—12 Mos.—1935
1936—3 Mos.—1935
Period End. June 30—
incl.
$9,237,788
$2,035,493
$2,351,126
$8,706,830
1,724,838
2,057,982
7,343,575
8,031,831
864,238
252,689
870,338
260,817
3,467,031
1,025,574
3,491,782
1,055,533
187,805
183,997
787,009
728,500
147,287
164,133
620,431
646.854
$272,819
$578,697
$1,443,530
$2,109,162
rev. before interest,
depreciation, &c
Inti on 1st mtge. bonds
and prior liens
Net
liabilities..--.-
Net surplus
47,134
$
taxes
Cash capital
deposit &
in office
contracts—"—
.12,230,68 5 11,768,671
claimsl6,775,216 15,438,545
and expenses.—
(not
Interest accrued..
Cash
Reserve for
stock.
Eq. sold to munic.
Unearned prems.
Reserve
Premiums in course
1935
$
1935
1936
7,940
1,939,500
4,176,349
receivable
Common
Deficit---
Cost of uncompl'd
panies owned by other interests will be $97,100, viz., $71,250 on $1
500,000 434 % pre?, stock of Wm. Filene's Sons Co. and $25,850 on $517,000
18,461
&
78,786
tracts
Def.
1935
$184,994
on
notes
Preferred stock
Munic. rental con¬
Adjusted net income applicable to
434% convertible pref. stock of
corporation
$2,004,009
$1,708,516 $2,027,804
Upon the completion of the refinancing of the subsidiary companies,
the annual dividends payable on the preferred stocks of subsidiary com¬
1936
$204,848
:
Canadian taxes.
instal.
426,733
1,039,166
528,566
rec., less reserve
Inventories
249,566
accrued
Unrealized inc.
accounts
&
.
payable
Res. for Federal &
1,534,431
1,083,834
cost..'
Notes
*.
186,146
Liabilities—
1935
$87,654
& munic. secius.
at
316,763
%
Consolidated Balance Sheet May 31
1936
$74,239
U.
413,784
$394,563
$3,137,938: cost of sales, before de¬
trative expenses,
Assets—
$2,308,447
144,^11
$2,273,486; gross profit, $864*,452*: selling, general and adminis¬
$932,939; loss from operations, $68,487.
preciation,
Net income
454,484
$125,385
-
follows: Net sales
as
1936
1935
(after provision for Fed¬
$2,775,257
eral income tax).
$125,385
dividends
Deficit for year
.
.
721
loss
Net
Preferred
■Years Ended Jan. 311934
110,498
\
Loss oninv. & cap. assets
net reduction
Adjusted divs. on pref. stocks of sub.
owned by other interests
—
Adjusted portion of net income applicable to minority interests in com.
stocks of subsidiary
—
—
Fed. & Canadian taxes.
$1,443,790
Interest
on
debentures—
Other int.,amort.of disc.
Total
;..43,873,305 37,413,030
Total
.43,873,305 37,413,030
—V. 142, p. 622.
.
Fidelity-Phenix
June 30—
Assets
$
$
stocks.-.68,448,496 53,341,773
1,738,307
1,738,307
course
of
2,150,426
in
process
2,445,968
149,643
1,930,460
—
163,465
2,043,607
Other claims!
2,687,407
1,600,000
831,558
2,632,656
1,400,000
831,558
846,500
917,000
3,464,825
3,464,825
surplus.---—49,231,261 34,267,662
...
Total
Firestone Tire & Rubber Co. of Calif.—Bonds Called—
A total of $750,000 of 15-year sinking fund 5% gold bonds, due Sept. 1,
1942, have been called for redemption on Sept. 1 at 101 Y % of the principal
thereof, together with accrued interest to Sept. 1, 1936.—V. 141, p. 748.
First American Fire Insurance Co.—Bal. Sheet June 30
1936
x
Bond &
1935
$938,997
8903,301
128,879
adjustment
380,035
12,105
337,121
15,571
435,510
Int., &c. accrued-
419.280
Reserve
for
taxes
for
54,225
43,070
50,000
50,000
1,000,000
2,607,300
and expenses.—
Res.
deposit &
In office
1,000,000
1,992,585
other
all
claims
50,000
Res. for dividends.
Cash capital
Net surplus
Total
$4,763,047 $4,167,835
$4,763,047 $4,167,835
Total
-V. 142, p. 623.
Depreciation.
1935
$3,202,252
2,256,987
Net
profit
-
—.
—
$1,030,589
$945,265
Shares capital stock (par $5)
—
x905,778
818,203
Earnings per share
—
$1.13
$1.15
x Average number of shares outstanding during the period.
For the quarter ended June 30, 1936 net profit was $722,564 after above
deductions, equal to 75 cents a share on average of approximately 961,000
shares outstanding during the period.
This compares with $702,564 or
86 cents a share on 818,203 shares in the June quarter of 1935.—V. 143,
p.
922.
'
v
General Gas & Electric Corp.
(& Subs.)—Earnings—
1936
12 Months Ended June 30—
1935
& Gloversville
1936—7 Mos.—1935
$348,764
$340,534
305,951
307,606
17,516
18,644
def$6,110
4,733
def$9,132
2,460
$14,282
6,404
$25,296
Other income.
def$l,376
13,759
def $6,672
14,044
$20,687
98,949
$25,216
99,571
$15,135
$20,716
$78,262
$74,355
Gross income
Deductions
Net deficit
Florida East Coast
—
Federal income taxes.
-
1,367,063
1,821,333
199,514
2,280,940
W-i-
Other taxes
Operating income
Other income (net)
—
$7,705,835
51,265
1,326,240
1,616,535
113,975
2,179,173
$7,560,885
$7,757,101
Gross income
Interest
on
on
unfunded debt
4,681,543
601,115
funded debt
Interest
,
—
Interest charged to construction
Amortiz. of debt discount and expense.
Dividends
preferred stock
(2) General Gas & Electric Corp.:
Int. on 5% notes, int.-bearing scrip, &c.
.
Crl2,082
398,136
1,262,540
on
—.
428,851
$396,995
-V. 142, p. 3852.
General Realty &
6 Mos. End. .June 30—
Utilities Corp. (& Subs.)—Earnings
1936
1935
1934
x$59,973
x$277,488
1933
Net profit after interest,
F6d6rd'l income t3iX6S
Ry.—Asks to Abandon Key West Line
The Public Works Administration has offered
to aid in financing con¬
bridges from Lower Matecumbe Key to
The plan calls for payment of $640,000 for structures
and rights-of-way on 45 miles of the line.
Monroe County, City of Key
West and the Florida Road Department of Florida have proposed to
toll highway and
Key.
purchase the remainder of the Key West extension.
After the hurricane, arrangements were made for freight service through
Port Everglades by car ferry to Cuba with passenger traffic and L. O. L.
freight traffic handled by the Peninsular & Occidental Steamship Co.
:
Provision for retirements
Balance
The company has applied to the Interstate Commerce Commission for
authority to abandon 125 miles of its Key West extension, extending from
near Florida City to Key West.
It is proposed to discontinue all operations
and take up the track.
The line was so damaged by a hurricane in Septtember, 1935, that its reconstruction would cost at least $1,800,000.
a
Maintenance-
— —
—
def79
—V. 143, p. 428.
struction of
Operating expenses
RR.-—Earnings—-
Tax accruals
Operating revenues
Operating expenses
_—$21,675,542. $20,354,510
8,300,854
7,557,699
Total operating revenues
requirements on outst. securs.:
(1) Subsidiary companies:
1930—Month—1935
$37,611
$36,328
42,960
41,070
2,501
2,650
Name
1936
$3,433,856,
2,403,267
& Federal income taxes
Annual int. & div.
Fonda Johnstown
Period End. July 31—
No
Corp. (& Subs.)—
6 Months Ended June 30—
Profit after charges
_
of collection—
on
1935
112,525
stocks..$3,927,897 $3,388,363 Unearned prem
7,500
7,500 Losses in process of
Real estate.
Premiums in course
Cash
1936
Liabilities—
$2,000,000 a year less than under
General American Transportation
74,417,332 59,733,120
—V. 142, p. 622.
Assets—
currently running at the rate of about
the old contracts.—V. 142, p. 3509.
expense
Net
74,417,332 59,733,120
15,685,281 16,289,919
second quarter of 1936 as compared
corresponding quarter of 1935 reflects the revision of contracts of
Gatineau Power Co. with the Hydro-Electric Power Commission of Ontario
which became effective Nov. 1, 1935.
The full adverse effect of this revi¬
sion was not felt until May 1, 1936.
Income under the new contracts is
Note—The decline in earnings for the
with the
tax &
Reserve for
Cash capital
Total
$
of
Reserve for divs..
accrued
Cash
Loss
1935
$
Liabilities—
Unearned prems..
adjustment
collection..
Interest and rents
of
Balance to surplus.-.
1936
1935
Real estate
Prems. in
Sheet
for income tax—
Deprec. & amortiza.
storage works
.
1936
Bonds &
Co.—Balance
Insurance
Fire
•
>
prov.
and depreciation
x
i
$14,607
x$334,865
Loss.—V. 142, p. 2321.
General Motors Acceptance Corp.—Debentures Offered
—Morgan Stanley & Co., Inc., on Aug. 20 offered at 101 ^
and int. $100,000,000 debentures, consisting of (a) $50,000,000 10-year 3% series due 1946, dated Aug. 1, 1936;
due Aug. 1, 1946, and (b) $50,000,000 15-year 3series
due 1951, dated Aug. 1, 1936; due Aug. 1, 1951.
Interest payable Feb. 1 and Aug. 1 in N. Y. City.
Coupon debentures
Registered debentures in denom. of $1,000, ,$5,000,
$10,000 and authorized multiples of $10,000.
Within each series coupon
in denom. of $1,000.
Volume
debentures
143
Financial
Chronicle
registered debentures and the several denominations
interchangeable.
First National Bank, New York, trustee.
The 10-year 3%
debentures, series due 1946, are redeemable, at the option
of the company, as a whole
not less than
$5,000,000) on
Assets—
-
or from time to time in part (in amounts
$5,000,000) on any date prior to maturity on at least 60
days' published notice, on or prior to Aug. 1, 1938 at 104%; with successive
reductions in the
redemption price of y% % during each successive two-year
period thereafter to and incl. Aug. 1, 1948; thereafter to and incl. Aug. 1,
1949 at 101%; and thereafter at
100%; in each case with accrued interest
State
assets
(net)
-
charges
States
(payable to
banks and
others)
$289,549,500 $289,549,500
Demand and other notes and loans
payable to
banks, and borrowings against bankers' ac¬
ceptances
Prospectus Dated Aug. 20
of New York
relating to investment companies.
The
business done and intended to be done by the company and
subsidiaries is financing the distribution and sale of automobiles and
of various divisions of its
parent, General Motors Corp.,
subsidiaries of that
Accounts
corporation, including Cadillac, LaSalle, Buick,
Oldsmobile, Pontiac and Chevrolet automobiles; automobile accessories
servicing equipment; Frigidaire automatic refrigerators and air-con¬
ditioning equipment; Delco light and power equipment; oil burner and
Conditionair equipment; Electro-Motive
equipment; GMC trucks, prin¬
cipally in countries other than the United States; Vauxhall automobiles
and Bedford commercial cars manufactured in
England; Opel automobiles
and Blitz commercial cars manufactured in
Germany; and used automobiles
of any make which
may be sold at retail by dealers in General Motors
products.
The company is a wholly-owned
subsidiary of General Motors Corp.
Company is advised that as of July 16, 1936 the combined holdings of com¬
&
stock of General Motors
Corp. owned
and General Motors Securities Co.
Co.
reserves
;
_
;
Reserves
capital
stoVk:;:::::::::::::::::::::;::::::
Paid-in surplus
Earned surplus
;
Undivided profits (earned)-—
$484,069,298 $495,898,895
General Outdoor
Advertising Co.,
Period End. June 30—
by E. I. du Pont de Nemours
Operating revenues
Expenses
Operating profit.
,
$573,004
Total operating
x
5 Mos. End.
1935
May 31
x
'36
income.$24,075,120 $30,810,164 $35,515,319 $17,461,443
for Fed. inc. tax $12,353,043 $15,846,189 $17,893,994
Int. & debt disc. & exp
Prov. for Fed. inc. tax—
Net
$3,768,668
1,516,000
$3,093,933
2,051,394
$1,903,871
1,073,832
income—..—
$7,068,375 $10,700,862 $12,103,695
$5,127,816
Purpose—Net proceeds from the sale of the debentures (estimated at
$99,533,200 after deducting expenses and exclusive of accrued
interest)
will be used (1) to retire
outstanding short-term notes, either by payment
at maturity or by
repurchase in advance of maturity; and (2) if, and to the
extent made advisable by current demands of
the business, to purchase
receivables in the ordinary course of wholesale and
retail financing or to
sidiaries
Subsidiaries—Company's subsidiaries
at
May 31, 1936
were as follows:
Percentage of
Voting Power
Acceptance Corp. of Delaware
100%
Acceptance Corp. of Indiana, Inc
100%
Acceptance Corp., Mexico (inactive)
100%
Acceptance Corp., South America
100%
Allgemeine Finanzierungs - Gesellschaft m.b.H., liusselsheimam-Main, Russelsheim, Germany
—100%
General Motors Acceptance Corp., Continental
100%
General Motors Acceptance
Corp. de Mexico, S. A., 5 de Mayo
20, Mexico City. Mexico
al00%
Vauxhall & General Finance
Corp., Ltd., Luton, Bedfordshire,
England
al00%
General Exchange Corp. (inactive)b
100%
\
.
General Motors
General Motors
General Motors
General Motors
.
—
Including shares owned of record by directors or others and held for the
of the company,
b General Exchange Corp. is a subsidiary not
consolidated and tne assets represented
by the investment in such sub¬
sidiary amount to only approximately $5,000.
•
a
as
of May 31, 1936
,,
—First Week of August—
,
1936
mature
as
—
$25,000,000
50,000,000
follows:
Principal amount of $9,500,000 on
Nov. 1,1939; $7,500,000 on Dec. 1, 1939, and
$8,000,000 on Feb. 1,1940.
Underwriters—The names of the several
principal underwriters of the
$100,000,000 principal amount of the debentures and the several
amounts
underwritten by them, respectively, are as follows:
10- Year
15-Year
3% Debs.
Names—
3M% Debs.
10-Year
.
3H% Debs.
$7,500,000
$7,500,000
Chas. D. Barney & Co., New York
Blyth & Co., Inc., New York
Bonbright & Co., Inc., New York
:
—%.
Alex. Brown & Sons. Baltimore
Brown Harriman & Co., Inc., New York
Cassatt & Co., Inc., New York
E. W. Clark & Co., Philadelphia
Clark, Dodge & Co., New York
Coffin & Burr, Inc., New YorkR. L. Day & Co., Boston
Dominick &
Dominick, New York
Estabrook & Co., New York
Field, Glore & Co., New York
First Boston Corp., New York
First of Michigan Corp., Detroit
Goldman, Sacks & Co., New York
Graham, Parsons & Co., New York
Hallgarten & Co., New York
Harris, Hall & Co. (Inc.), Chicago
Hayden, Miller & Co., Cleveland
Hay den. Stone & Co., New York
Hemphill, Noyes & Co., New York
Horn blower & Weeks, New York.
W. E. Hutton & Co., New York
Jackson & Curtis, Boston
Kidder, Peabody & Co., New York
Ladenburg, Thalmann & Co., New York
Lazard Freres & Co., New York
Lee Higginson Corp., New York
Lehman Brothers, New York—
Mellon Securities Corp., Pittsburgh—
F. S. Moseley & Co., New York
G. M.-P. Murphy & Co., New York
Paine, Webber & Co., New York
Salomon Bros. & Hutzler, New York
Schoellkopf, Hutton & Pomeroy, Inc.. Buffalo
Securities Co. of Milwaukee, Inc., Milwaukee
J. & W. Seligman & Co., New York
Edward B. Smith & Co., New York
Stone & Webster and Blodget, Inc., NeW York—
White, Weld & Co., New York
Dillon, Read & Co., New York
15-Year
.3% Deos-
Morgan Stanley & Co., Inc., New York
Kuhn, Loeb & Co., New York
-Jan.
1935
$34,650
—V. 143, p. 1078.
$34,650
1
to
Aug.
1936
7—
1935
$644,855
$634,598
Giddings & Lewis Machine Tool Co.-Recapitalization
Plan Voted—
Stockholders
'
of
v
the
company have approved the plan
proposed for
revamping the firm's capital structure.
Under the plan, $175,000 in new
4H % 10-year first mortgage bonds will
be issued in
exchange for the present $175,000 in old bonds on a dollar
for
dollar basis.
In addition, $146,000 in
4H% debentures, due from 2 to
11 years in equal
amounts, will be issued in payment of
past due tax certifi¬
cates, past due bank notes and interest on these
notes and on bonds.
The old 6% preferred stock of
$50 par value is being
changed into one
share of new $10 par value common
with its holders also
receiving the
right to purchase one additional share of new
common at face value.
The
holders of the old no par value common
stock are to receive
one-quarter
share of the new $10 par value
common and the
right to purchase threequarters share.—V. 142, p. 2828.
'
,
Goebel
Brewing Co.—Earnings—
Income Account Year Ended June
30, 1936
Net sales
Cost of sales (incl. Federal and State
excise taxes)
Gross profit
$5,615,068
3,590,369
j.
Shipping and delivery expense,
Selling and advertising expense
Administrative expense
_
_
_
$2,024,699
—
205,603
285,447
185,057
-
^
——
.
—
notes
5,786
$101,366 loss$189,298
.
a3M% notes ($30,000,000 originally authorized)
Capital stock (par $100)
These
510,958
6,892
3.581
No mention made of
taxes.—V. 142, p. 3509.
-
a
463,472
$170,726
$303,572
Georgia & Florida RR.—Earnings—
benefit
Capitalization Outstanding
24,980
$328,552
$358,300
-
Profit.
Peribd—
Gross earnings
make advances to subsidiaries for such
purchases.
The amount to be used
for each such purpose is not now determinable
and will vary from time totime as shall be found advisable by the
management.
The loans to be dis¬
charged by retirement of short-term notes were incurred, and the
working
capital to be obtained will be used, in connection with the
purchase of re¬
ceivables in the usual course of the business of
the company and its sub¬
35,831
The directors on
Aug. 18 declared a dividend of $1.75 per share on
account of accumulations on the
$6 cumulative preferred
stock, no par
value, payable Sept. 1 to holders of record
Aug. 20.
This dividend is for
the period from
July 16, 1934, to Oct. 31, 1934.
A similar payment was
made on June 5 last, as
against $1.50 paid on March 9 last, and
$1 per
share on Dec. 9, 1935.—V.
142, p. 3852, 3676.
,!
$8,105,519
$3,736,010
2,054,289
$534,793
$570,624
General Telephone Allied
Corp.—Accumulated Div.—
Net income before int. &
prov.
$415,794
12,843
$428,637
254,330
19,919
Total income-_______
Interest, &c
31
1936—6 Mos.—1935
$5,644,339
$5,312,84a
5,109,546
5,009.276
$592,923
231,703
2,920
Other income
Summary of Consolidated Income
Inc.—Earnings—
1936—3 Mos.—1935
$3,330,750
$3,074,078
2,757,746
2,658,284
Depletion&amortization
Years Ended Dec.
1933
1934
8,750,666
_
(all of whose common stock is
by E. I. du Pont de Nemours & Co.) totaled 12,017,724 shares, or
27.63% of the common stock of General Motors Corp. then outstanding.
The company and its subsidiaries do not
own any
plants or other impor¬
tant units of
property, but as of July 1, 1936 occupied 124 leased offices,
of which 98 were located in the United
States.
•
>1,302,315
4,333,654
13,368,808
41,044,615
25,000,000
1,695,413
50,000,000
11,250,000
8,750,000
18,276,047
18,276,047
—
Total u
-V
143, p. 756.
owned
•
1,065,840
3,997,340
12,793,292
41,123,036
25,000,000
1,695,413
so.ooo.ooo
11,250,000
liabilities-1
3)4% notes
and
29,022,837
2,305,706
499",750
payable (incl. unapplied credits)
Accrued
Dealers' repossession loss
Other current liabilities
mon
20,069,081
Loans payable to affil. cos. not
consolidated
Loan payable to
subsidiary consolidated
under the article of the Banking
general type of
or
$484,069,298 $495,898,895
Consolidated
Company
Liabilities—
Short-term notes—United
other products
its
$41,399,351
451,166,259
434,785
585,836
306,000
630,143
213,165
1,163,356
1,143,715
—
Total
of not less than
in
*
-
Fixed assets (net)
Other
Deferred
option of the company, as a whole
Summary of Information Contained
Company—Organized on Jan. 29, 1919
$40,524,287
426,660,872
394,668
12,956,753
1,590,536
585,302
213,165
less deductions
Investments
,,
Consolidated
Company
Notes and bills
receivable,
Accounts receivable
Other current assets
.
,
Balance Sheet May 31, 1936
Cash
from time to time in part
or
(in amounts or
any date prior to maturity on at least 60 days
published notice, on or prior to Aug. 1,1938 at
103%; with successive reduc¬
tions in the redemption
price of H % during each successive two-year period
thereafter to and incl. Aug. 1, 1942; thereafter to and
incl. Aug. 1, 1943 at
101H%; thereafter to and incl. Aug. 1, 1944 at 101%; and thereafter at
100%; in each case with accrued interest.
The 15-year 3M% debentures, series due
1951, are redeemable, at the
Law of the
1229
and
3,000,000
500,000
1,750,000
1,500,000
250,000
2,500,000
500,000
500,000
1,000,000
500,000
500,000
J.,000,000
500,000
500,000
2,500,000
250,000
1,000,000
500,000
500,000
500,000
250,000
1,000,000
500,000
750,000
1,000,000
500,000
1,500,000
750,000
1,500,000
1,500,000
1,000,000
2,500,000
750,000
250.000
500,000
500,000
500,000
500,000
1,000,000
2,500,000
500,000
500,000
2,500,000
3,000,000
500,000
1,750,000
1,500,000
250,000
2,500,000
500,000
500,000
1,000,000
500,000
500,000
1,000,000
500,000
Profit
Other income
$1,348,590
11,376
;*
Total income
Other expenses
...
—
Provision for Federal income taxes
-
Net
income-.——
Dividends paid
Earnings per share
—
1,323,680 shs.
500,000
500,000
500,000
250,000
1,000,000
500,000
750,000
($1 par)——
Balance Sheet June 30, 1936
Assets—
Cash in banks and
on
hand...
Bonds-.-.
$322,683
205,380
Accounts & notes receivable-Inventories
32,865
Prepaid ins., taxes & oth. exps.
Capital stock subscriptions
x
Liabilities—
Accounts payable
500,000
$56,015 "
4,342
Accrued expenses
Prov. lor Fed. & State
taxes..
...
231,998
103,650
345;779 Deposits--.___
32,011
6,975
Property, plant & equipm't. 2,333,229
Compensation insurance res've
5,078
Capital stock ($1 par)...
1,323,680
Cap. stk. subscribed lor by em¬
ployees, but
ing
not issued pend¬
ol
subscrip¬
payment
tions, 16,060 shares
16,060
Earned surplus
Total
x
After
$3,278,923
___.
reserve
for
1,538,099
Total
$3,278,923
depreciation of $198,097.—V.
142,
p.
3676.
(B. F.) Goodrich Co. (&
Subs.)—Earnings—
Earnings for the Six Months Ended June
30, 1936
Net sales (discounts, transportation
and excise tax
deducted). $65,994,520
Manufacturing, selling and general administration
expenses._ 59,705,092
Provision for depreciation
1,894,249
1,000,000
1,500,000
$1,119,925
—____
063 854
com. stock
$0.84
Note—Provision for depreciation of
physical properties to the amount
of $109,897 is included in the
above statement for the
year ended June 30,
1936.
No provis!on is made for surtax on
undistributed profits.
500,000
2,500,000
250,000
1,000,000
—
•
on
$1,359,966
.15,713
224,327
Profit
______
Net profit on foreign
exchange
Profit on securities sold
~$4,395,179
1,500,000
1,500,000
1,000,000
Miscellaneous income
_r~~
18 132
136 667
"III
218^602
2,500.000
750,000
250,000
500,000
500,000
500,000
Difference between cost and face
value of cos.' bonds
acquiredl
on gold
bonds, debentures, bills payable, &c-_Provision for Federal income
tax...
$4 768 581
750,000
500,000
1,000,000
2,500,000
500,000
.500,000
2,500,000
Total profit
_
_
;
Interest
*
28 006
1,463,394
550,000
Profit
$2 727 181
Net loss applicable to
subsidiary company's capital "stock not
owned by the B. F.
Goodrich Co
424
Profit for the six months.
per share on common stock
$2,727,606
Earnings
'
Note—No provision has been
made for
imposed by the 1936 Revenue
Act.—V.
thefundistributed
143,
p.fl078.
$i.47
profits
tax
Financial
1230
mated during 1931.
$3,il?f873
Saf^5.^.7
Net profit after charges
income taxes
incl. deprec. and
1
1935
$3,157,256
Federal
206,729
93,190
Sales for nine months to July 31, 1936 amounted to $31,596,107 against
$27,810,351 in 1935.—V. 143, p. 588.
Rubber Co. (& Subs.)
Goodyear Tire &
-Earnings-
1934
1935
1936
30—
disc.,
6 Mos. End. June
Net sales (returns,
1933
freights, allow. & inter$90,908,685 I$78,828,358 $70,808,502 $51,481,898
co. sales deducted)
!]
^
•
(incl.
Mfg. cost & chgs.
86,104,374
75,187,683
67,245,635
51,220,305
$4,804,311
$3,640,675
$3,562,867
513,764
890,511
$261,593
679,708
$5,308,909
1*379,056
$4,154,439
1,396,352
$4,453,378
1,431,188
$3,929,853
$2,758,087
$3,022,190 def$564,079
profits for period
Deduct—Profits on sub.
Tot.
held
appl. to stocks not
by co.: Current
'
404,993
353,309
331,170
pref. stock—
Readjustment of foreign
173,957
Crl,298,987
exchange reserve
$3,598,683
1,502,937
dividends
Earns, per sh. on 1,540,400 com. shs. (no par)
$2,617,197
3,005,326
$2,404,778
1,504,026
1936
1935
$
$
Liabilities—
■
$
$
c $7 1st pref. stk.,75,285,400
75,285,400
prop'ty.76,051,209 77,357,928
b Common stock.. 1,710,802
1,663,273
Investments
5,502,258 5,979,499
9,330,542
Inventories
66,660,943 64,564,863 Cap. stk. of subs.. 9,451,948
Assets—
rec.23,993,261 18,192,897
968,400
U. S. Govt.
140,064
Cash
...22,789,870 22,321,721
Goodwill, &c
1
1
Deferred charges__ 2,282,583
2,762,904
&c.11,631,577/
secur.J
I
Canadian bds.,
Funded debt.
Funded
52,849,500 53,449,500
of
debt
1,877,282
950,366
payable..11,722,316
subsidiaries, &c-_
Rubber in transitd Accts.
Accr'd interest
482,269
7,120,103
Reserves
Capital surplus...19,016,396
Earned surplus.
18,445,320
_.
193542
in progress
against the trust
2,123,103
265,373
9,071,578
490,880
7,618,381
18,174,442
14,815,805
Total
198,911,702192,288,277
a After
depreciation,
b Represented by 1,540,400 no-par shares in
1936 (1,492,870 shares in 1935).
c Represented by 752,854 no-par shares,
...198,911,702192,288,2771
d Includes Federal taxes.
.
Dividend—
The directors have declared a dividend of $1 per share on account of
accumulations on the $7 cum. pref. stock, no par value, payable Oct. 1
to holders of record Sept. 1.
Similar distributions were made on this
preceding quarters, prior to which 50 cents per
share was distributed in each of the four preceding three-months* periods.
A disbursement of $2 per share was also made on the pref. stock on March 1,
1934, on account of accumulations.
,
After the payment of the Oct. 1 dividend, accruals on the above issue
will amount to $11.25 per share.—V. 143, p. 429.
:
,
Lakes
Power
Co.,
,
,
Ltd.—Bonds Offered—Wood,
Gundy & Co., Ltd.; McLeod, Young, Weir & Co., Ltd.;
Cochran, Murray & Co., Ltd.; The Dominion Securities
Corp., Ltd.; W. C. Pitfield & Co., Ltd.; Collier, Norris &
Ltd., and McTaggart, Hannaford, Birks &
Gordon, Ltd., on Aug. 15 offered in the Canadian markets
$4,250,000 4}i% 1st mtge. sinking fund
Price, 99.50 and interest, yielding 4.28%.
bonds, series A.
Sees,
x
the
Company
Province of Ontario in 1931 to amalgamate
established in 1916. and Algoma District
Power Co., Ltd., the latter having been a subsidiary of Middle West Utilities
Co. of Canada, Ltd., which now controls Great Lakes Power Co., Ltd.
Great Lakes Power Co., Ltd., owns and operates two hydro-electric plants,
one at Sault Ste. Marie on the St. Mary's River, and one at High Falls on
the Michipicoten River.
In addition, the company holds rights for the
development of power on the Montreal River, on which river it is now pro¬
ceeding witk the development of 10,000 h.p.
Company also holds per¬
petual water rights for the use of 20,000 cu. ft. of water per second, continu¬
ous flow, on the Canadian side of the St. Mary's River.
Company supplies
hydro-electric power to Sault Ste. Marie, Ont., and the surrounding area in
the Algoma District, including ten communities in the vicinity of Sault Ste.
Incorp. under the laws of the
Great Lakes Power Co., Ltd.,
MThe
total installed capacity of the
company's plants, including 10,000
is about 64,000 h.p., together with 12,000 hydrau¬
long term contract to the Abitibi Power & Paper
The company has more than 440 hydro-electric
customers,
including industrial, commercial and domestic consumers.
Transmission lines owned by the company consist of about 214 miles of
h.p. under development,
lic h.p. which is sold under
Co. from the power canal.
line of
6,600 volts or over.
Capitalization (After giving effect to present
-
financing)
Outstanding
$15,000,000
in affll.
42,528
31,247
5.399
1,287
$167
559
tax
for
red.
iy
of
656
674
1,891,872
1,545,013
scrip.outst.
Beneficial
owner¬
3,955
Due from affii. trsts
1,144
trusts
ship
dividends
Accrued
$1,894,079
Total
$1,546,4121
....$1,894,079 $1,546,412
Total
amount necessary to reduce costs to market value of $201,104
($560,548 in 1935).
y After amount necessary to reduce cost to
liquidating values of $155,556 in 1936 ($166,837 in 1935).—V. 141, p. 1933.
After
x
1936
in
Co.—Accumulated Dividend—
Gulf States Steel
declared a dividend of $3.50 per share on account of
accumulations on the 7% cumulative preferred stock, par $100, payable
Oct. 1 to holders of record Sept. 15. A like payment was made on July 1,
The directors have
April 1 and Jan. 15, last, this latter being the first dividend paid since
April 1, 1931, when a regular quarterly distribution of $1.75 per share was
made.—V. 143, p. 430.
Hamilton
Co., Two Rivers, Wis.—Registers with
Mfg.
SEC—
...
See list given on
first page of this department.—V. 143, p.
Hibbard, Spencer, Bartlett & Co.-—30-cent
923.
Special Div.
have declared a special dividend of 30 cehts per share
stock, par $25, payable Sept. 25 to holders of record
The regular monthly dividend of 10 cents per share, which had
been previously declared also bears the above dates.
Previous extra distributions were as follows:
30 cents on July 31 last;
25 cents on Dec. 20 and on Oct. 25, 1935; 30 cents on July 26, 1935, and
15 cents on Dec. 28, 1934.—V. 142, p. 4180.
The directors
the
on
common
Sept. 15.
(The) Hancock Oil Co. of Calif.—Earnings—
1936
1935
1934
1933
$6,947,603
$5,614,331
$4,385,695
$5,092,352
6,049,198
92,866
4,937,496
180,491
4,044,066
80,983
4,903,546
34,398
Years Ended June 30—
Gross operating income-
Costs,
& gen. exp.,
incl.
raw
materials,
oper. selling and gen.
exp., State, county &
oper.
Intangible develop, exps.
Deprec., retirements and
.
Cr42,748
022,247
148,711
84,205
02,849
$412,256
217,559
$258,685
119,657
$68,295
43,367
loss$75,659
42,224
$194,697
$139,028
$24,928 def$117,883
other amortization.__1
Dr40,460
280,406
352,821
Depletion & lease amort.I
Other in & charges (net)
Net income
Class A and B dividends
Balance, surplus
Earnings per share
214,598/
{
,
on
class A and B shares.
«
_
$1.19
$1.90
J
1.31
Nil
Balance Sheet June 30
1936
Assets—
Plant, prop.,
Cash....
a
Other
investments
Accts. & notes rec.
Inventories
Deferred charges..
Total..
a
6,414
538,107
609,964
54,353
7,347
6,414
...$3,112,443
487,389
632,466
29,818
$3,109,8041
After depreciation and depletion
1936
Liabilities—
1935
&c.$l,672,312 $1,715,738
230,632
231,293-
Invest. in sub. cos.
1935
b Class A com.stk.$1
,161,354 $1,161,354
144,000
Class B com.stk. • 144,000
260,000
Notes payable.... .,
401", 445
620,091
Accounts payable.
286,206
Taxes payable
See (e)
Federal taxes
e43,776
Accrued liabilitiesRes. for conting..'
53,703
Capital surplus
710,944
660,982
Earned surplus...
408,494
165,898
c
Total
...$3,112,443 $3,109,804
of $1,944,108 in 1936 ($1,689,133 in
b Represented by 193,559 shares (no par),
c Represented by
24,000 shares (no par).
d After reserves,
e Includes Federal income tax.
V. 143, p. 758.
•
'
:
1935).
—
Havana Electric & Utilities Co.—Accumulated Dividend
The directors have declared a dividend of 75 cents per share on account
of accumulations on the 6% cum. 1st pref. stock, par $100, payable Aug. 15
to
$4,250,000
2,000,000
26,000 shs.
70,000 shs.
2,000,000
7,500 shs.
30,000 shs.
Earnings—Earnings of the company and its predecessors for the five
ended December 31, 1935, after deducting operating expenses, but
providing for bond interest and expenses in connection therewith,
general interest, Dominion income taxes, retirement allowance and non¬
recurring items, based on published statements, were as follows:
years
before
Retirement
Allowances
Balance
$514,996
$98,107
$416,888
500,608
90,223
410,384
528,369
95,966
432,402
606,951
150,153
456,798
655,821
„ 119,932
535,889
vInterest requirements of this issue will be $180,625.
The above earnings
from 1932 to 1935 are for the present company, Great Lakes Power Co , Ltd •
For 1931 the earnings are the consolidated earnings of Algoma District
Prov.
com.
and interest rec.
1935
$1,550
holders
of record Aug. 1.
Similar payments were made on Aug. 15
May 15, 1935; Aug. 15, May 15, and Feb. 15, 1933, and on Nov. 15,
The last regular quarterly payment of $1.50 per share was made
May 16, 1932.—V. 141, p. 752.
1932.
Authorized
fund bonds (present issue)
5% general mtge. bonds, due Sept. 1, 1957
$7 preference shares, series A cum. (no par)
Common sheres (no par)
Dec. 31—
1,446,230
1,836,781
salary
Acer. Federal cap.
and
1st mtge. sinking
Calendar Years End.
Accrued
comprising
Federal taxes
Principal and int. (M. & S.) payable at holder's option in lawful money
principal office of company's bankers in Toronto, Montreal,
Winnipeg, Vancouver, St. John or Halifax.
Coupon bonds in denom. of
$1,000 and $500 registerable as to principal only.
Red. in whole or in
part at option of company at any time prior to maturity on 60 days' notice,
at 104 on or before Sept. 1,1941, at 103 on or before Sept. 1, 1946, at 102 on
or before Sept. 1, 1951, at 101 on or before Sept. 1, 1952, and thereafter and
prior to maturity at premiums decreasing yi of 1 % per annum, together in
each case with accrued interest.
Annual cumulative sinking fund, com¬
mencing Sept. 1, 1939, amounting annually to 1% of the total of Series "A"
bonds issued, plus an amount equal to interest on bonds retired through the
sinking fund.
Trustee: National Trust Co., Ltd.
In the opinion of
counsel, these bonds will be a legal investment for insurance companies
registered under the Canadian and British Insurance Companies Act, 1932.
John A. McPhail, President of
22
stock
portfolio
Invest,
y
$63,815
$8,033
50
1936
Liabilities—
1935
1936
'
Revenue stamps..
1936; Due Sept. 1, 1956
of Canada at
Data from Letter of
$64,646
of loss resulting from sale of securities, &c., during period.
Balance Sheet May 31
Henderson,
Dated Sept. 1,
Exclusive
Assets—
each of the 10
Great
1,088
$60,491
x$58,605
x$51,313
Net income for year..
Cash
1935
$90,075
24,341
583,638
23,146 '
incid.
to litigation
Nil
Nil
Nil
Plant &
issue in
Extraor. exp. paid
x
$0.62
1936
$1 Preferred
1933
1934
.
$78,341
19,736
$69,172
17,859
miscellaneous income.
Administrative expenses
$560,951
757,958
Consolidated Balance Sheet June 30
Total
1935
1936
stocks,
&c.,
management fees and
$900,752 def$388,129 def$197,007
$2,095,746
Surplus
Accts. & notes
Guardian Investment Trust—Earnings—
Years End. May 31—
Inc. from divs. on
v
Bt M"'!?
a
Green Mountain Power Corp.—Accumulated Dividend—
have declared a dividend of $1.50 per share on account
accumulations on the $6 cumulative preferred stock, no par value,
payable Sept. 1 to holders of record Aug. 15.
A like payment was made
on June 1, last, and on Dec. 2,
Sept. 2 and June 1, 1935, and compares
with $2.25 per share paid on March 1, 1935, and 75 cents paid each quarter
from June 1, 1933, to an<l including Dec. 1, 1934.
Prior to June 1, 1934,
regular quarterly dividends of $1.50 per share were paid.—V. 142, p. 4341.
interest on bonds,
divs. on
Preferred
of the
$941,301
1,505,380
...
Other income
cos.
1935.
Purpose—Proceeds of this issue will be applied (a) toward the redemption
presently outstanding $1,287,000 6% 1st mtge. bonds, (6) in repay¬
ment of the balance of an indebtedness of $4,234,500 owing to the parent
company as at July 31, 1936, after $2,000,000 of such indebtedness is
refunded by the issue to the parent company of that amount of 5% general
mortgage bonds ranking junior to this issue, and (c) toward general corporate
purpose.—V. 143, p. 588.
ing period in
of
504,598
Net profits
Earnings of the company for the 6 months ended June 30, 1936 (subject
to audit), available for bond interest and retirement allowance on the above
basis, amounted to $344,023; compared with $300,847 during the correspond¬
The directors
deprec.), sell., admin.
& gen. exp. & prov. for
^
amalga¬
Ltd. and Great Lakes Power Co., Ltd., which were
1
Power Co.,
(& Subs.)—Earnings—
Glidden Co.
1936
22.
Aug.
Chronicle
Earnings
on
Hecla
Mining Co.—To Postpone Dividend Payment—
The company's fourth quarter dividend, ordinarily payable on Nov. 15,
will be postponed until as late a date in December as practicable, and the
date and amount of distribution will be announced during the latter part
of
November, according to Leo J. Hoban, Secretary.
the Revenue Act of 1936 levies a graduated
upon earnings which are not oistributed during the year in which
earnings are made.
Since Hecla declares dividends approximately five
weeks in advance of payment, distribution upon Nov. 15 would necessitate
declaration in the early part of October, almost three months prior to the
year-end and too far in advance to intelligently estimate 1936 earnings
and to gauge the effect of the surtax.
A regular quarterly dividend of 15 cents per share was paid on the 25-cent
par vapital stock on Aug. 15 last.—V. 143, p. 924; V. 142, p. 3346.
Mr. Hoban pointed out that
surtax
Hoberg Paper Mills, Inc.—Bonds Offered—The Securities
of Milwaukee, Inc., in July offered at 100 and int.
$900,000 1st mtge. 5% cony, sinking fund bonds.
Go.
Volume
143
Financial
Dated July 1, 1936; due
July 1, 1946.
Wisconsin Trust Co.,
Chronicle
six
Interest payable J. &
J.
First
Coupon bonds in denom.
Milwaukee, Wis., trustee.
$1,000 and $500 registerable as to
principal.
Purpose—Net proceeds are to be used for redemption on
Aug. 1, 1936,
of all of the funded debt of
the company (other than bonds held in the
company's treasury), consisting of $672,600 first
mortgage 7% sinking
fund gold bonds due Feb.
1, 1937.
The balance of the net proceeds will
be used to increase the
wording capital.
Company and Business—Incorp. as a Wisconsin corporation on July 18,
1925, under the name Hoberg Paper & Fibre Co.
Name was changed to
present title in June 1936.
Company is the outgrowth of a paper business
organized in the year 1892.
The business consists primarily of the manu¬
facture and sale at wholesale of
pulp and paper products.
The principal
products are toilet paper, paper
towels, paper napkins and cellulose products
of various grades and sizes for
use in homes, stores, offices and industrial
of
11993254768
inon
JLUoU#
Authorized
Summary of Earnings
■1
Int.
•
Calendar
Net Sales
Profit
Current
$271,886
393,592
447,446
492,146
433,465
279,230
228,975
247,934
227,825
249,512
depreciation, &c
Earnings
Income
2,996,566
2,719,528
2,369,759
2,253,480
2,495,889
2,681,451
Before
depreciation
Includes loss
on
loss
on
■
interest
retirements of fixed assets.
and
Net
Income
"The increase
proposal of
23.
1080.
in the 12-month period covered by the present report there was
increase over 1935 amounting to $15,903,229, or 1.57% but also
slight rise over the 1934 figure.
The results for several months past
indicate in addition that the trend is continuing favorable for still further
improvement.
"Reflecting the traffic rise in 1936, the gross operating revenues of the
combined Manhattan and Subway Divisions increased from $55,782,623
for the year 1935 to $56,453,077, or 1.2% for the past fiscal year and nonoperating revenue increased $33,521 during the year."
Commenting upon the possibility of future improvements, Mr. Murray
said:
"For some time past, studies have been made to show the additional
economies that would be gained by the installation of new generating units
at the power plants of the company.
These studies demonstrate that with¬
Net
out
$65,657
27,619
25 920
30,343
28,422
16,471
$26,780
loss$20,256
profit before depreciation.
loss$20,256
40,599
$26,008
65,899
Depreciation
Net loss.
$60,856
$39,891
question expenditures of this nature should be made
$23,264
2,743
$26,780
33,988
u
1935
$35,785
1934
,
other sundry income
Alsets~r
-
,
'
,
'
which for rubber
was
names,
67 803
Dec. 31 '35
$184 401
43 529
'
,
&c
Advances, claims and deposits (after ded. of res.).
Prepaid and deferred charges
Treasury stock of Intercontinental Rubber Co.
(172 shares at stated value)
68*204
3,605,909
-
Drafts payable
Accounts payable
Sundry reserves
Minority interest in subsidiary company
y Capital stock
Capital surplus, established April 1, 1935, and ad¬
justed at Dec. 31, 1935
Earned surplus (deficit) since Jan. 1,1935
Total
1
21,040
93,304
20 034
65 594
860
860
S4'086'443
$4,064,435
$20,199
34,462
$7,800
5,142
7,200
4*459
2,980,020
2,980*020
1,139,170
99,750
1
$4,086,443
18 327
7 200
139 170
92,542
$4,064,435
x After reserves for
depreciation and amortization of $1,505,117 on June
30, 1936, and $1,471,129 on Dec. 31, 1935.
y Stated value $5 per share.
v
—V. 142, p. 2502.
Taxes
3,991,386
5,014,763
Mfg. Co.—25-cent Extra Dividend—
declared
extra
dividend of 25 cents per
share in
regular quarterly dividend of 50 cents on the
common
stock, no par value, both payable Sept. 26 to holders of
record Sept
11
A similar extra was paid on June 26, last.
An extra of $1 per
share was
paid on March 26, last, and extra dividends of 25 cents were paid in
each
addition
to
the
an
1934
1933
3,426,140
5,012,016
2,804,260
5,002,958
2,162,815
4,991,592
Bal. to be divided be¬
tween
city and co. .$11,298,171
Used for purch. of assets
of the enterprise.----
to city
Contract No. 3
CV75.213
$11,336,326 $13,195,060 $13,493,659
Crl71,956
76,717
205,035
317,538
589,804
under
Company's gross inc.
' „<
from operations
$11,373,385 $11,508,283 $12,800,804 $12,698,820
Company's fixed charges 14,250,161
13,638,025
13,701,780
13,708,422
Co.'s net oper.
deficit- $2,876,776
78,405
},129,742
44,883
$900,975
39,928
$1,009,602
40,204
$2,798,371
7,910,154
$2,084,858
13,421,600
$861,048
2,549,590
$969,398
sur565,765
Non-operating income-Deficit
Deficit at beginning of yr
Profit & Loss Changes
During Year—
Adj. of sink. fd. accruals
Adj. of capital accounts
CV7.632.625
under Elevated ctfs__
Dr36,320
Adjust. of stk. Fed. accr.
Settlement with city of
rental chgs .under Con¬
337,797
tracts Nos. 1 and 2
Loss
on
404,558
invest, in N. Y.
&
Q. County Ry. Co.
capital stock
Loss
on
Dr2,895,160
cash advances &
open account--
Dr6,861,355
Excess amt. of Fed. tax
Hoskins
The directors have
1935
1031620,356 1015717,127 1030897,075 1084116,122
revenue.$56,453,077 $55,782,623 $56,513,098 $59,307,083
Operating expenses
36,148,756
36,008,139
35,510.820
38,659,017
Passengers carried
.
1
.
l&Ues---
75 899
the
Gross operating
Payable
49,970
74,397
3,575,550
cost
improvements, plantations, buildings
and equipment
Patents, trade
$203,514
as
Income Account Years Ended June 30
(System)
1936
less than value at market
prices at dates shown.
and supplies, at
Materials
xLand and
June 30 '36
soon
Studies are also being made
by our engineers in cooperation with car builders and aero-dynamic engineers
as to the advisability of streamlining the new cars which
may be necessitated
by the increase in traffic that will undoubtedly come as a result of holding
the World's Fair in New York City."
Current rent deductions.
„
as
financial condition of the company will allow.
Comparative Consolidated Balance Sheet
Cash on hand and demand deposits...
Accounts, trade acceptances and notes receivable._
Shrub and rubber on hand and in
transit, at cost,
1936
year.
But
not only an
$7,208
Profit
Interest earned &
due to the fact that the local law effective for
a
Intercontinental Rubber Co. (&
Subs.)—Earnings—
1935)
was
a rate
was
further payments are made to the city under Contract No. 3.
"The prediction we made a year ago that the traffic slump on the Inter¬
borough System was approaching its end and that increased travel might
be expected in the future has been fulfilled.
The bottom was reached in
mid-summer of last year.
Up to that time every fiscal year since 1930
had been marked by a decrease in traffic when compared with its predecessor
per share was distributed on July 1 last
1 last, 15 cents on Dec. 23
Oct. 1, 1935, and 10 cents
per share paid oh July 1, 1935.
Prior to
this latter payment no dividends
were distributed since
April 1, 1931.—
V. 143, p. 430.
Shut-down exps. (Mexican plants and
California properties in
■■
of 3% throughout the 12-month period, whereas for 1935
1H % for one six-month period and 3 % for the other half year.
"Of the amount paid this year $353,832 was for the Manhattan and the
remainder was levied against the Subway revenue where its effect has been
to increase the deficit in the preferential due the company—a deficit which
began in 1935.
Including the deficit for that year, plus the interest which
has accumulated, the total deferred preferential now aggregates
$446,109
which the receiver is entitled to collect from future Subway revenues before
the rate
Voted—
on
1936
17 the
$1,678,394.
and this compares with 20 cents
paid on April
$83,715
26,591
released for publication Aug.
"Of the total taxes accrued, $3,477,160 were for the city, an increase of
$414,335 over the year before.
The greater part of the city levy was
represented by the emergency gross revenue tax.
During the past two
years the city has collected very large sums from the I.R.T. System under
this law.
In 1935 this tax amounted to $1,259,844 and in 1936 it was
Bearing Co.—Extra Dividend—
6 Months Ended June 30—
Profit from operations
Gen & sales exps and miscell. taxes..
$3,243,065
The proportion was much larger on the Manhattan
system went for taxes.
lines where it amounted to 18 cents out of every dollar.
On the Subway
alone it was four cents on the dollar.
The directors have declared an extra
dividend of 15 cents per share on the
common stock, par $10,
payable Sept. 1 to holders of record
Aug. 20.
A
similar extra dividend was
paid on June 1 last.
A quarterly dividend of 15 cents
and
$3,376,360
,
Registers with SEC—
p.
$352,110
"Altogether the Interborough's total tax bill, including Federal, State
i
Stockholders of record at close of business
Sept. 7 will be given the
right to purchase the additional stock at $20 a share on
a pro rata
basis,
obtaining one share of new stocks for each share of their
present holdings.
Of the price to be
paid for the new stock, $10 is to be
applied to capital
and $10 to surplus.
Payment for new stock
department,—V. 143,
$340,916
contract.
the management to increase the
total amount of
capital stock to $1,000,000
from $500,000 by
increasing the number of $10 par shares to 100,000
from 50,000.
Hoover Ball &
$3,235,876
7,190
and city levies amounted to $3,991,386, an increase of $565,245 over 1935.
"This means that seven cents out of every dollar of revenue on the whole
imposed
See list given on first
page of this
$3,368,932
7,429
subway were reduced from
$25,679,506 in 1935 to $25,677,685 in 1936 and had it not been for the
$1,324,561 which the Subway Division paid to the city,
the Interborough would have contributed $1,233,923 as interest under
the terms of Contract No. 3 on the city's investment in the
Subway lines,
Mr. Murray pointed out.
"Despite the heavy tax burden, however," he continued, "the Subway
came within $90,638 of earning its preferential for 1936 due it under the
directors
Oct.
806
gross revenue tax of
have declared a dividend of
$1.5,0 per share on the common
stock, payable Oct.l to holders of record
Sept. 15.
This compares with
dividends of $1 per share
paid each three months from Oct. 1, 1934, to
and including
July 1
last.
The Oct. 1, 1934, dividend was the first
paid since Jan. 2, 1933, when a
quarterly dividend of $1.50 per share
was distributed.—V.
141, p. 2436.
due
$351,304
933
income
year, as compared with the preceding year.
At the same time the operating costs of the
taxes.
(D. H.) Holmes Co., Ltd.—Larger Dividend—
The
be
$339,938
_
Interborough Rapid Transit Co.—Annual Report—
an
will
1936—Month—1935
1936—11 Mos.—1935
$1,164,370
$956,619 $11,089,718
$9,608,403
824,387
605,315
7,720,786
6,372,527
Thomas E. Murray Jr., receiver,
extra dividend of five cents
per share
regular monthly dividend of like amount on the
capital
Sept. 7 to holders of record Aug. 24.
Similar pay¬
ments were made on
July 14, May 19, March 24, and Jan. 28 last, Dec. 2,
Oct. 7, and July 15, 1935.
See also V. 140, p.
973, for further dividend
record.—V. 143, p. 430.
a
expenses
report for the year ended June 30, 1936:
Gross revenues of the Subway Division increased $741,494 for the fiscal
i
meeting held Aug. 17 approved
$2.93
Industrial Power & Water Co.—Registers with SEC—
both payable
at a special
$4,405,207
$1.65
See list given on first page of this department.
Hollinger Consolidated Gold Mines, Ltd.—-Extra Divi-
Stockholders
$2,476,742
$2.89
—V. 143, p. 590.
Taxes
Homestead Fire Insurance Co.—Stock Increase
revenues
Income from oper
in addition to the
stock,
$4,333,764
$4.07
Independent (Subway) System of N. Y. City—Earnings
Underivriter—The Securities Co. of
Milwaukee, Inc. is the underwriter
of the entire issue.—Y.
142, p. 4342.
The directors have declared
1933
;v
on
Non-operating income.
income
1934
$6,112,382
•-
share
per
Period End. May 31—
Operating
Operating
$89,520
$57,637
$70,840
97,212
185,890
168,470
128,336
210,284
174,501
137,220
255,191
212,387
138,636
198,628
159,529
161,093
30,880
15,446
154,543
loss4,524 lossl4,561
195,643 loss?l,066 loss30,971
146,086
17,865
9,365
107,862
81,334
67,334
retirements,
i
1935
1,500,000 shs.cap. stk.
—V. 143, p. 925.
After
Taxes
$111,526
110,490
108,826
99,735
96,201
87,257
78,956
73,357
63,874
60,316
1936
income taxes, interest,
-
Before
a
Illinois Bell Telephone Co.—Earnings—
Net Profit
b Depreciation
p.
par
6 Mos. End. June 30—
Net income after Federal
Outstanding
$900,000
674,312
18,600
;
Debt
$2,768,745
2,851,280
2,991,769
3.106,243
1930
a
a
$900,000
7,000 shs
36,600 shs
on
Bonds and
Years
b
1946
-----
no
—V. 142, p.
Capitalization After Giving Effect to Present Financing
Preferred stock, 6% cum. (par
$100)
Common stock (no par)
raised
payment.—Y. 143,
have declared an extra dividend of 25 cents per share
regular quarterly dividend of like amount on the common
value, both payable Oct. 1 to holders of record Sept. 1.
3678.
addition to
stock,
Wis,
.
cents from 25 cents with the Sept. 26, 1935,
was
Humble Oil & Refining Co.—25-cent Extra Dividend—
plants. >
The Operations of the
company are conducted in two plants known
respectively as the "Hoberg Division" and the "Fibre Division," both
located in the City of Green
Bay,
1st mtge. 5% convertible
sinking fund bonds,
The regular quarterly dividend
The directors
.
in
_
;
1231
Preceding quarters.
paym't for years 1917
to
1923
over
with
accruals
int.
thereon
Dec. 31, 1933
Miscellaneous.
to
Dr621
Deficit at end of year.$10,709,147
Dr3,118,359
Dr 31,24 9
6,847
$7,910,1541 $13,421,600. $2,549,590
Financial
1232
Years Ended June 30
Comparative Statement of Results from Operations for
-1936—
—
1935Manhattan
Subway
Subway
Manhattan
Ry. Div.
Division
Ry. Div.
Division
transportation^0,870,166 $40,710,852 $10,748,398 $40,037,458
ry. oper. rev__
982,889
3,889,170
1,175,698
3.821,069
Rev. from
Other st.
$44,600,022 $11,924,096 $43,858,527
4,086,888
1,889,523
4,158,751
1,872,419
4,630,828
1,829,836
4,849,808
Gross oper. revenue-.$11,853,055
Maint. of way & struc..
1,898,518
Maint. of equipment...
Traffic
689
978
5,560,038
1,139,405
14,847,813
164
223
2,111,176
5,483,058
1,126,049
14,400,987
2,269,735
$1,381,983 $18,922,336
2,156,333
1,835,052
$1,595,463
2,017,493
$18,179,020
Transportation expenses
General expenses
Net oper. revenue
Taxes
Income from oper
loss$774,349
Current rent deductions: ,
Interest
on
.
1,408,647
$17,087,283 loss$422,030 $16,770,37o
1,808,240
1,808,240
on
bonds, Contr.
Nos. 1 & 2 (rental).
Div. rental at 7% on
Manh. guar, stock.
Manh. Ry. cash rental
Oth. oper. rent deduct
city
2,624,491
304,570
304,570
50,000
224,715
50,000
$14,462,792df$2,809,555 $14,145,882
Used for purchase of as¬
sets of the enterprise.
75,213
Balance—city & co.__df$3,164,621
Payable
city
to
2,624,491
227,461
df$3.164,621
Balance
171,956
$14,538,006df$2,809,555 $14,317,839
under
contract No. 3
~
I
Co.'s gross
inc.fr. operdf$3,164,621 $14,538,006df$2,809,555 $14,317,839
Company's fixed charges:
Interest on 5 % bonds.
1,563,076
6,850,773
1,563,076
6,850,773
Sink. fd.
533 788
1,560,574
Int.on
112,653
517,346
on 5% bonds
10-yr.6% notes
1st & ref. 5%
bonds coll. to 7%
Int.
1,271,800
360,537
__
unfd. debt, &c.
on
376,603
112.653
1,477,650
1,099,617
517,346
Non-operating income._
1,271,800
321,347
1.477,650
47,156
$4,129,700 df$6,455,036
$4,325,294
24,369
1,961
Co.'s net oper. inc._def$7,006,476
52,818
25,586
20,514
Bal., before deducting
5% Manhattan div.
rental
Div.
under
elevated
extensions
certificate pay'le from future earns
Deficit accruals under elevated exten- «.
sions ctf. in suspense (see note 4)._
Assets of the enterprise under agree¬
ment of Aug. 30, 1929:
df$6,953,658
rental
Manh.
stock
at
5%
$4,155,287 df$6,434,522
$4,349,664
on
Deficits
190,043,515 190,043,515
.
Contract
3—on
No.
which City
762,358
762,358
1,462,957
1,263,000
1,462,957
1,263,000
650,630
645,000
446,109
650,630
645,000
446,109
of
New York has 1st lien:
Materials and supplies
Sec. depos. with State ind. Comm.
Elevated extensions—on which Inter-
borough Co.
...
Jias 1st lien:
^
Material and supplies
with State Ind. Comm.
Deficits, Contract No. 3-Deferred
charges
covering Transit
Commission's objections to Con¬
tract No. 3 (seenote4)--Acct. rec. when earned by N. Y. R.
T.
Corp.
under
supplementary
agreement for joint oper. of Queensboro Subway Line..
Deferred charges to income for prereceivership tort claims (see note 7)
847,103
Bankers Trust Co., trustee under coll.
indentures
1—
.54.989,000
1st & ref. mtge. 5% bonds reacquired
1,334,000
Guaranty
Trust
Co.,
trustee,
in
special trust under agreement dated
Sept. 1,1922
6,241,000
Advances from corp. fund for con•
struct'n & equip, under Contr. No. 3- 11,090,553
Sec. depos.
Total.---
3,770,475
4.246,875
4,246,875
847,103
54,989,000
1,334,000
6,241.000
-
282,000
11,372,553
78.922
74,501,656 203,651,845 278,153,501
-----
-
3,770,475.
78,922
Deposit with the trustee under con¬
solidated mtge. of Manh. Ry. Co.
356,953,296 263,255,439 570,588,566
Total—all accounts
(pay. if earned).
2,782,450
2,782,450
!$4,155,287df$9,216,972
:$4,349,664
' 86.62%
58.55%
103.54%
61.76%
Per cent exps. to earns.:
;
88.34%
106.53%
57.57%
61.69%
Passengers carried
217,403,315 814,271,041 214,967,958 800,749,169
Daily aver. pass, carried
593,998
2,224,637
588,953
2,193,833
Car mileage....
54.773.653 174.071,454
54,167,537 173.120,121
Accts. pay.
266,326
49,620,169
from constr. & equip, fds.
Sinking fund on 1st & ref. mtge. 5%
bonds—accrued (see note 1)
Int. & rentals—due & accruedLess: Amount on deposit & payable
from construction funds
General Balance Sheet June 30, 1936
Balance.
11,434
13,248.375
7,333,458
377,322
277,760
63,093
5,698,845
5,761,938
3,137,174
3.805,899
520,221
541,313
9,322
682,203
93,554
775,340
93,554
105,847
30,705
5,157 J 97
5,187.903
928.829
10.706.681
11,635,510
1.123*382
Due for wages
154,902
517,277
154,902
1,640,660
9,322
Outstanding checks
Accounts
1,116,330
9,567,838
payable—audited vouchers
93,136
and sundry open accounts
Lessee's deductions under Contr. No.3
in process under
indenture of Sept. 1, 1922
$
coll.
—
_
Taxes—due and accrued
105.847
Capital—Subway Division—
Contracts Nos. 1 & 2 & cost of leases.
Contract No. 3
Sub-total
60,521,840
127,201,075
—
60,521,840
127,201,075
III
Total
—
Trustee for voluntary relief
Items awaiting
187,722,916
-----
Manhattan division: elevated ctfs...
Total
Consolidated,
Receiver
$
,
Fixed
14*0*618
668,725
21.092
:
Distribution
Estate
.
Assets—
30,657,o54
1,116,330.
8,836,019
731,819
_
.
35,000.000
172.683,000
—
Current Liabilities—
f$9,736,108
Excluding taxes
Capital stock: 350,000 shs. at $100 ea 35,000,000
Funded debt 1st & ref. mtge. 5% gold
bonds due Jan. 1, 1966
172,683,000
Default under coll. indenture of Sept.
1, 1922 securing 10-year 7% notes, 30,657,554
Default under indenture of Oct. 1,
1922, providing for the issue of 1013,248.375
7,192,839
Rapid Transit Subway Constr. Co—
377,322
Manhattan Ry. Co.—lease account..
Receiver for I. R. T. Co—
modified guar,
Bal., after deduct. 5%
distribution.
—
fund-
_
187,722,916
44,631,691
Deferred liability: Div. rental at 5%
on Manh. Ry. stock (payable if and
232,354,607,
44.631,691
Deferred
I, R. 1. Co.
Constr. & equip t funds (held for ac¬
count of Contr. No. 3 & related
elevated certificates)
49,620,169
of
579,688
579,688
'Investments—
of associated
and bonds)-..-...
cos.
(stocks
12,789,635
12,789,635
bonds deposited with City
59th St. tunnel
of N. Y. acct.
244,247
Real estate
244,247
13,033,883
Total.
Current Assets—
154,902
4,926,594
885,009
.
1—
13,245,883
28,143
126,758
4,926,594
1..
212,000
28,143
126,758
154,902
fund: Cash
Total..
885,009
1
Cash (see note 2)
Invest't in I. R.
—
T. Co. 1st & ref.
bonds
from subway for deductions
mortgage 5%
Due corp.
under Contract No. 3
93,554
9,322
43,879
555,724
331,470
Crl 1,305
173,044
584,910
331,470
Crl 1,305
158,350
6.834,250
6,992,600
41,832
Special deposits—for specific purposes
(see note 3)
Accts. receiv., (incl. int. accrued)
1
110
41,942
1
29,185
Prepaym'ts (insur., rents, taxes, &c.)
Due corp. cash from construct'n funds1
Total.
Due from
associated companies..
Accounts in
deposited witb trustee.
Amount of sink,
16,538,307
16,853,307
31,536,031
35,627,031
_
fund deposit in excess
1936(see note 1).
to Jan. 1,
1,667,338
350,000
350,000
3,215,201
97,900
....
Sub-total
1,667,338
Cost of replacements "in kind" in ex¬
cess of cost of capital retired Manh.
3,215,201
97,900
3,115.599
and equipment
Existing railroads
Existing equipment
Railroad
3,115.599
6,778,701
8,446,039
23,740
23,740
For replacement of property
provided
by city retired from service:
89,812
416,174
216,833
92,223
Contract No. 3
92,223
35,590
89,812
216",833
Contract Nos. 1 and 2
35,590
on
^
substations
For account Manhattan Ry.
Co.:
Replacement of property retired
Cap. acct., additions & betterments
Amortiz. of debt disct. & expense
416.174
23,307
23,307
416,174
240,141
656,316
2,235,065
44,643
7,108.656
7,081,996
9,343,722
7,126,640
2,190,422
26,659
2,217,081
190.805,873
190,805,873
1,462.957
1,462,957
1,263,000
1,263,000
650,630
account second mortgage
650.630
645,000
446,109
645,000
446.109
3,770,475
4,246,875
3,770,475
4,246,875
847,103
bonds.
Sub-total.
Less invest'ts & cash depos. acct. res.
Balance
52,480,338
Res'ves for the cost of the items which
4,406,000
195,827
195,827
14,362
1st
lien
on
property
with
the
Material and
1,295,630
enterprise
Capital retirements to be replaced
from depreciation reserve:
sion
1,295,630
Securities
supplies
deposited
with
the1
State Industrial Commission.
Def'd credit
Manhattan division
Subway division
195,857
175,555
195,857
175,555
accr.
_
under Contr. No. 3
Transit Commission's objection to ac¬
counting under Contract No. 3
Def'd rental acct. N. Y. T. Corp
of replacements "in kind" less
than cost of capital retired, subway
9,674
9,674
suspense incident to de¬
10-year 6% notes
70,875
70,875
Cost
in
Special deposit with N. Y. Trust Co.
under article 7 of agreement with
;
Transit Comm. dated Aug. 30, 1929
Materal and supplies
Securities
deposited
Elevated extensions:
clared by agreement of Aug. 30,1929
to be assets of the elevated exten-
f
enterprise:
State Industrial Commission—
'
F
-----
Contract No. 3:
1
on
4.406,000
1,698,175
1,667,338
Elevated extensions certificate
48,074,338
315,000
4,091,000
14* 362
fault
portion thereof
10-year 7% notes..
Reserves—For Depreciation—
Prior to oper. under Contr. No. 3 and
certificates incl. int. on invest, of
under the agreement of Aug. 30,
1929 have become assets of the
de¬
Accruals
315,000
1,698,175
Accounts per Contra—
Def'd credit accr. under el. ext. ctf—
5%
Paym'ts under court orders for receiv.
exps. of Manh. Ry. Co.(see note 6)
Federal taxes paid under protest—...
Receiver's
4,091,000
incident to de¬
Suspense—
Sinking fund on 1st & ref. mtge.
bonds accrued prior to Jan. 1,
accr.
under court order
suspense
For insurance
93,554
9,322
equivalent to outst. checks
Bank bal.
Amount
12,000
200,000
12,000
200,000
Real estate mortgage.
Voluntary relief
Securities
fund
July 9, 1935 (see note 1)___
Accruals in
fault on
Securities
U. S. Govt,
credit to profit and loss:
Special trust bonds to be withdrawn
from sink,
'
21.8ljt.4Q8
21,814 408
when declared earned)
232,354,607
-------
—
Estate of
of
Consolidated
Receiver
Estate
on
notes
Int.
Aug. 22, 1936
(Continued)—
Accounts per Contra—
Assets
-—
.
Manh. Ry.
bonds (rental)
& sink, fund
Int.
Chronicle
■
L.....
396,013
Pre-rec'vership tort claims (see note 7)
1st & ref. mtge. 5% gold bonds:
Pledged as coll. to 10-yr. 7% notes.
Released by Bankers Tr. Co., tr._
Issued and held in special trust
8*4*7",*103
54.989,000
1,334,000
6,241,000
54.989,000
1,334,000
6,241,000
396,013
L
4,557,324
Total
p
«
2,202,472.
6,759,796
—
hattan Ry. Co. property
Deferred Charges—
10,491,234
profit and loss for
div. rental at 5% on Manhattan Ry
stock, payable ir and when earned. 21,814,408
Unamortized debt discount & expense
—.
—
.
—
10,491,234
Total
Deferr. charge to
Total
—-
32.305,642
equipment under Contract No. 3.
21,814,408
Deficit
32,305,642
Total—all accounts
.
282,000
11,372,553
78,922
11,090,553
78,922
74,501,656 203,651,845 278,153,501
58,440,166 sur47731,019
10,709,147
356.953,296 263,255,439
570,588,566
Volume 143
Financial
Chronicle
1233
Notes—(1)
The "amount of sinking fund deposit in excess of accruals to
Jan. 1, 1936" consists of
$4,406,000, of bonds paid into the sinking fund
from the special trust which under the order of
the court of July 9, 1935,
are to be withdrawn from the
sinking fund.
When and if the $4,406,000
of special trust bonds are withdrawn
from the sinking fund the outstanding
bonds will be reduced by that
the special trust
amount,
bonds will
Jersey Central Power & Light Co.
be
correspondingly increased and all the special trust bonds then in the hands
of the trustee under the
special trust are to be returned to the Interborough
receiver under the court order of
July 9, 1935.
When this transaction is
51/2% Preferred Stock
completed the deferred credit to profit and loss of $4,406,000 will become
an actual credit.
As of June 30, 1936 there were
$61,951,000 par value of
1st & ref. mtge. 5% bonds in the
sinking fund (which included the $4,406,000 of bonds hereinabove referred to).
(2) The separation of the cash in the hands of the receiver into three
separate funds in accordance with the
agreement of
as of June 30,
JL936 in the
TRADING
following:
*
MEMBERS NEW YORK STOCK EXCHANGE
Cash
Corporate
y Manhattan division
Subway division
x
$3,115,657
1
15 Broad Street
215,591
$4,926,594
arise.
It will also be necessary to retain some funds to cover future ad¬
ministration expenses."
"Your petitioner believes that
while, as a measure of prudence, the
above reserves should be retained
by it at this time, it may well be that
they will approve to some extent unnecessary, and to that extent will be
available for future dividends," the petition concludes.
"It should also
be borne in mind that the trustee has in its
possession valuable but still
objec¬
Unexpended
balance with Bankers Trust Co., trustee,
under collateral indenture dated Sept. 1, 1922
meet interest and dividend rentals—
$129,164
43,879
Special deposits to
unliquidated assets."—V. 143,
;
$173,044
Pending final adjudication of Transit Commission's objections Nos.
(4)
suspense
The company reports net assets as of June
30, 1936, of $8,848,165 after
$117,306 for mining venture losses and after provision for Federal
taxes
standing
securities
The effect on the general balance sheet is reflected
only to the extent of
the items objected to on both the
asset and
Principal
on
Manhattan
Interest
on
Interest
Ry. Co.
consolidated mtge. bonds
Total
*
$6,509,280
271,380
Manhattan Ry.
271,380
franchise
against the Man¬
hattan Ry. Co
•_
Federal taxes assessed against the
2,233,714
$270,021
2,503,736
77,703
2,880
5,399
83,102
2,976
44,045
3,089
47,135
$9,139,003
$278,606
9.417,610
Manhattan Ry. Co
*
Ninth Ave. special franchise tax.
to
City of N.
The above payments
95
Y.
under third tracking certificate
(6)
are exclusive of
106,881
31,446
12,500
Ry. Co
$195,827
The aggregate of these last mentioned
payments is reflected in the balance
sheet on the assets' side and
designated as "payments under court orders
for receivership expenses of the Manhattan
Ry. Co.," the court
right to determine
in the future
having also
as
to what fund
or
are finally to be charged.
(7) The amount shown in these accounts represents the total
receivership tort claims, the settlement of which was approved
court dated March
property
Interstate Hosiery Mills,
Aug. 19 declared a dividend of 50 cents per share on
stock, no par value, payable Sept. 29 to holders of
record
Sept. 11.
This compares with 37 W cents paid on June 30 and
March 27,
last; and 25 cents paid each three months from Dec.
31, 1934, to and
including Dec. 26, 1935.
The Dec. 31, 1934, payment was the first
made
since March 31..1932, when a distribution of
50 cents per share was made.
A payment of 75 cents was made on Dec.
31, 1931, and quarterly disburse¬
ments of $1 per share were made from
Dec. 31, 1923, to Sept.
30, 1931,
inclusive.
A 10% stock dividend was
paid on Dec. 31, 1924.—V. 143,
International Cigar Machinery Co.—Bal. Sheet
June 30
1935
$
Cash
73,352
731,365
200,000
867,739
U. S. Treas. notes.
Accts. & notes rec.
deferred
335,691
Accts. receivable..
Notes receivable..
295,560
445,693
469,536
79,523
(John) Irving Shoe Corp.—Stock Sold—
Earnings for 5 Months Ended June 30
1936
Gross sales.
Total
9, 962,329
26,346
208,518
(inter-company)
70,878
1936
410,011
431,759
300,555
264,124
323,413
380,390
340,369
March-
April
May
July-
Italian Superpower
Period End. June 30—
Income—Divs. & int—
145,378
1,625,503
155,469
1,478,831
Total
for amortization of $3,483,858 in
.12,114,031
12,002,144
1936 and $3,365,264
on
Div.—
The Irving Trust Co., trustee in
bankruptcy, filed on Aug. 20 with
Oscar "W. Enrhorn, referee in
bankruptcy, a petition for authority to
declare and pay a dividend of
10% on all claims that have been allowed
finally as valid against the estate.
A dividend of 5% was paid to
creditors
late in 1935.
The dividend will be payable to holders of
$98,151,441 claims based
upon the bankrupt's debentures, with interest to date of
bankruptcy,
involving a cash disbursement, expected to be made around Oct.
20
of
about $9,815,150.
Some 16,000 individuals or corporations
wiil share
in the distribution.
The
petition sets forth that the estate now holds free cash of
about
$16,218,000; that, in addition to the claims on behalf of the
debentures,
there are miscellaneous claims of $81,793 and a United
States Government
claim for additional taxes for 1931
aggregating $1,260,000 with interest.
These last are being contested, but reserves
covering them are to be set up.
The petition further relates that the estate still
coristrols and operates
several subsidiary companies,
"for the administration of which a suf¬
ficient working capital should be reserved.
It has also a number of
other
should
be
in
a
1933
1932
279,116
292,116
249,143
215,856
315,919
334,352
396,209
285,245
274,145
327,707
244,243
246,172
224,635
228,989
Corp. (& Subs.)—Earnings
1936—3 Mos.—1935
1936—12 Mos.
1935
$213,159
7,614
$987,576
42,412
$1,484,565
34,314
9,440
14,013
124,080
145,351
for
prov.
U.S. income and capi¬
tal stock taxes
Interest paid
Loss on foreign
529
Balance
554
14,686
5,807
$189,232
160,661
$805,842
630,330
$1,298,742
643,709
$28,570
$175,511
$655,032
1,376,185 prof$15,240
loss$l 1,945
Int. pd. & accr. on debs.x
157,560
-
Net income y
—loss$169,505
Loss on sales of securs
—
debs, acquired
and retired
Profit
349
1,950
1,258,296
exchange_
349
on
49,786
30,496
68,152
$1,297,828prof$221,249
$526,716
Excess of par value over
cost of debs, acquired
Net loss for period-..x
8,395
Before
y
$169,505
Not incl. interest paid and accrued on debs, held by
excess
of loss on sales of securities
143, p. 114.
over
profit
and retired.—V.
wholly-owned sub.
on debs, acquired
(F. L.) Jacobs Co. (& Subs.)—Earnings—
Earnings for Six Months Ended June 30, 1936
Net profit after charges and provision for Federal income taxes,
but before Federal surtax on undistributed profits
Earnings
per
share
on
308,825 shs. capital stock.
$325,794
$1.05
Above statement includes
International Match Corp.—Authority Asked
it
1934
296,427
302,235
390,864
237,116
333,721
299,287
211,646
$1,975
Expenses
Taxes,
incl.
Corp. and
1082.
recently acquired Grand Rapids Metalcraft
wholly-owned subsidiary, Anderson Mfg. Co.—V. 143,
its
p.
Jewel Tea
Co., Inc.—Earnings—
28 Weeks Ended—
Net sales
which
1935
308,920
315,007
304,426
209,199
240,111'
302,566
204,491
Note—The above figures in net tons.—Y. 143, p. 1082.
90,473
in 1935.
y Represented by 600,000 no-par shares.
The earnings for the six months ended June
30 were published in V.
143,
assets
59,571
$0.36
$0.88
Island Creek Coal Co.—Coal Output—
Month of—
January
February
10,000,000
235,404
5,140
12,002,1441
123,418
H. Pietsch of Brown Young & Co., Inc., to the directorate of the John
Irving Shoe Corp. of Boston.—V. 142, p. 1082.
42,508
contingencies...
Surplus
12,114,031
reserve
$1,390,810
New Directors—
payable
64,608
Deferred charges..
After
accr.
Reserve for special
213,985
&c..^
1935
$1,635,020
—
Net profit after all charges, incl. Federal income
taxes but before giving effect to new
financing-Earnings per share on common stock
$
for machines
Accounts
$1.88
contract
68,941
219,764
Patents, licenses,
x
pay.,
on
9,994,396
Inventory..
x
Taxes,
$182,740
—
1935
$
Liabilities—
Capital stock...10,000,000
Accounts payable.
36,868
y
Dep.
Inc.—Earnings—
all
by wholly-owned sub.
1936
$
88,553
share on
Brown, Young & Co., Inc., announce that the issue of 24,000 units of
preferred stock with warrants and common stock offered a few weeks ago
at $28.50 per unit, has all been
sold, and the financing completed.
431.
1936
a
—
on
Assets—
equal to $22.52
charges, including provision for Federal
normal income tax and officers'
bonus, but before provision
for Federal surtax on undistributed
profits—
Earnings per share
—V. 142, p. 2163.
common
Fixed assets.'
profit after
June
of the pre-
International Cement Corp.—Increases Common Div.—
p.
400,055
were
Earnings for 6 Months Ended June 30, 1936
Net
by order of
30,1936, on Interborough receiver's application No. 104.
The order specifically provides that
they are claims against the estate of
Interborough Rapid Transit Co. but not against the receiver, and
payments are not to be made by the receiver, but are
to be subject to the
order of the court.—V.
143, p. 759.
The directors
on
on
shares, and on June 30, 1935, net assets
400,040 shares.—V. 142, p. 3347.
the
the
exercised
Announcement is made of the election of Mace D. Osenbach and Charles
$45,000
Engineers for receiver of the Manhattan Ry. Co
Accountants for receiver of the Manhattan
these payments
corporation
or before Sept. 1, 1939.
If all of these warrants had
June 30, last, the corporation would have received
$5,239,450 additional capital; the number of shares of common stock out¬
standing would then have been 924,000 and the net asset value at June 30,
1936, would have been approximately $15.24 per share.
On Dec. 31, 1935, net assets were
equal to $21.93 a share on
allowances made by the court
for compensation and
expenses of the following:
Receiver of the Manhattan
Ry. Co
Counsel for receiver of the Manhattan
Ry. Co
reserved the
$10 per share
been
Co.
taxes assessed
Compensation
at
-
$6,509,280
2d mortgage bonds
Real estate & special
unrealized appreciation of listed securities.
This is equivalent to
a share on the 400,055 shares of common stock out¬
at close of the period.
In arriving at the above figures listed
were valued at
market quotations and those not listed were
valued at cost.
As of June 30, 1936, there were
outstanding purchase warrants entitling
the holders to purchase
523,945 shares of common stock of the
the contract
accounting which have been specifically objected to and ob¬
jections in advance.
Interest
on
approximately $22.11
Contract No. 3, $3,770,475, and under the
elevated extensions certificate $762,358, a total of
$4,532,833, this transfer
being in accordance with the provisions of the contracts as to the items in
liability side under the caption
"accounts per contra."
(5) All payments which the court ordered be paid by
Interborough re¬
ceiver covering interest on Manhattan
Ry. Co. consolidated and 2d mtge.
bonds and taxes assessed against the Manhattan
Ry. Co. have been charged
against the accruals of such items on the books of the
Interborough Rapid
Transit Co. and the receiver.
These charges against the accruals are not the
disposition of the items because the court reserved the
right to determine in
the future the question as to what fund or
property such payments with or
without interest are finally to be
charged pending the disposition of the
question whether the Manhattan lease shall be affirmed and
adopted or dis¬
affirmed and rejected by the receiver of the
Interborough Rapid Transit
Co,
Such payments to June 30, 1936, are as follows:
925.
reserve of
of
account
on
p.
International Mining Corp.—Net Assets—
41 to 72, incmsive, with interest claimed thereon to
Dec. 31, 1933, and
blanket
objections to items in advance similar to those contained in the
specific objections, all accounting will be maintained on the current basis
modified only to the extent of
reflecting in the balance sheet the transfers
to
New York
A. T. & T. Teletype N. Y. 1-752
1,595,345
x
Subject to reduction upon settlement of Transit Commission's
tions to accounting under Contract No. 3.
y Includes advances from corporate cash of
$4,700,000.
(3)
DEPARTMENT
Eastman, Dillon & Co.
Aug. 30, 1929, resulted
position to protect should
an
emergency
Cost
of sales,
preciation,
exp.,
&c
July 11 '36 July 13 '35 July 14 '34 July 15 '33
$10,600,768 $10,010,241
$8,996,026
$7,395,039
de¬
8,987,350
8,796,928
8,058,187
7,016,985
Operating profit
Total income
Reserved for taxes
Other reserves
Net profit
Previous surplus
Total surplus
Common dividends
$1,613,418
115,486
$1,213,313
98,900
$937,839
173,795
$378,054
84,232
$1,728,904
460,080
392,973
$1,312,213
330,217
377,307
$1,111,634
343,992
65,000
$462,286
156,649
$875,851
2,334,986
Other income
$604,687
1,860,613
$702,642
1,540,636
$305,638
1,431,487
$3,210,837
681,278
$2,465,301
405,582
$2,243,278
404,075
$1,737,124
399,011
Adjust, aris. from sale of
com.
stk. to
employees
Earns, persh. on
280,666
(no par) shares
'
Cr46,912
Crl7,335
$2,576,472
$2,077,054
$1,839,203
$1,338,113
$3.13
$2.16
$2.51
$1.09
Financial
1234
(Julius) Kayser & Co. (& Subs.)—Earnings—
Comparative Balance Sheet
July 11 '36
^
Assets1
1
Accts. receivable
z
137,51
194,48
57,163
167,864
a456,042
271,178
202,874
acceptances
payableAccrued wages and
Accounts
bonuses
331,400
stamps
outstanding
33,209
Res.
deposits
Loans to empl.
285,000
174,255
167,892
236,378
443,164
2,576,472
for conting..
& devel'p
Surety deposits
Surplus
11,351,451
$545,129
188,456
$247,407
252,937
$399,160
178,683
$1,023,762
$733,585
$500,344
$577,844
5,478
6,954
310,397
4,602
9,267
300,052
'
Foreign exchange loss—
10,740
Interest
10,549
8,240
Texas.
305,330
for Fed. inc. and
excess-profits taxes. _ .
Divs.
on com.
Balance, deficit
com. outst. (par
1936
1935
$319,669
$2.13
stock
$260,775
$1.73
1123.
Julian & Kokenge Co.
Balance
1936
profit after depreciation, Federal income
undistributed earnings, &c
1935
$181,601
and
surtax on
30—
Net income after Fed. income taxes, deprec., &c._
Earnings per share on 300,000 shares capital stock
6 Months Ended June
1935
$114,813
$0.79
$0.38
provision has been made for Federal surtax on unaistributed income.
of June 30, 1936, shows current assets of $4,434,268,
including cash of $835,240, ana current liabilities were $498,859.
These
compare with current assets of $2,578,817, cash of $188,504, and current
liabilities of $228,791 on June 30, 1935.—V. 143, p. 275.
No
Power & Light Co.—Earnings—
1936—Month—1935
1936—12 Mos.--1935
$1,343,615 $1,264,553 $16,204,568 $15 ,179,081
,127.343
671,437
614,498
7,790,216
.,754,814
133,321
134,823
1.614,103
•
9,115
184,059
Depreciation
Fed. & State income tax.
9,102
185,301
58,850
and premiums
,426
$41,621
126
386
$60,552
37,212
70,945
$42,008
37,875
$3,814,776
$3,367,161
Gross income
Deductions
Depreciation
"
•
$1,206,011
22,780
Balance, earned surp.
$1,228,792
473,642
858,561
$916,021
466,694
869,008
$103,412
$419,681
$67,462
Railway oper. revenues.
Net rev. from ry. oper__
Net ry. oper. income.__
—V. 143, p. 591.
1936—7 Mos.—1935
$810,891
224,192
125,464
$1,257,451
499,674
o30,226
1936
a
and
1,304,371
1,867,772
1,183,596
Australian
$5,440,720
1,266,534
558,277
71,666,317
67.370,992
158,078
xl ,328,645
2,879,595
194,082
864,818
3,111,072
133,757
590,239
2,428,980
10,603,593
2,369,171
14,391,748
5,293,877
865,917
96,435,132
40,819,860
Wages, salaries & social charges.
6,450,950
Depreciation of buildings & equipment
145,820
Transfer to res. for adjust, of assets.
145,384
Depreciation on investments
262,217
Other depreciations
16,607,162
Interest and taxes.
92,597,211
38,710,027
14,693,895
74,254,784
36,679,871
3,999,979
profit...
Net prof, carried forward from'34-'35
79,033,040
3,199
Income from investments
Interest receivable
receivable.
Other ordinary income
Extraordinary income
-
income
investments._i__
...
20,066", 548
776,150
All other expenditures
102,781
69,423
Sundry credits and
liabilities accr'd.
3,563,833
124,093
Taxes, prior years.
Earned surplus
10,309,112
9,948,532
Jan.
31
{Currency
in
German
1936
Investments
Current <& other assets
for 1st mtge.
18,265,317
91,205
Nil
Reichsmarks)
1935
1934
'
•
546,944
395,094
collateral 6% sinking fund bonds._
Suspense items in debit
J
4,732,459
515,649
7,489,651
314,155
Liabilities—
Capital stock
28, 854,000
i
28,854,000
1, 000,000
reserve
766,000
l, 500,000
Statutory reserve
1,509,411
3,100,000
6,856,333
Reserve for pensions
3, 500,000
Other
8, 388,420
800,000
reserves
Welfare funds
1st mtge. coll. 6% skg.
Reichsmark bonds
16 150,449
Other loans secured by mortgages
^
_
_
_
banks
liabilities
21,124,320
11 291,400
6 824,575
27 560,456
27 650,741
15 866,272
fund bonds.
Long-term indebtedness
Other
28,854,000
766,000
3,000", 600
57,930,600
21,030,000
approval of increase of capital stock 10 ,800,000
Suspense items in credit
1 733,294
776,150
Net profit
-V. 141, p.
7,677,312
30,098,121
33,265,964
18,316,936
7,752,312
30,492,140
33,092,442
1936—9 Mos.—1935
1936—3 Mos.—1935
charges,
$893,397
outstanding
Earnings per-share
$711,608
$1,372,883
$778,583
1,156,831
$0.77
1,147,107
1,156,831
1,147,107
.
$0.62
$1.18
undistributed income does not apply to
which ends Sept. 30, 1936.—V. 143, p. 1082.
Note—The surtax on
Company—Earnings—
/
-
J
Depreciation
Profit on cotton futures
•
------
paid
Current interest received
Dividends on sub. preferred stock.
Profit available for bond interest
Current interest
—
—..
Bond interest
Amortization
_
Loss on disposition of
capital assets
Federal and Canadian taxes.——-
— —
Earnings per share
*
After
deducting
2,690
3,265
22,990
527,626
107,920
11,961
1,189
120,489
*288,445
397,417
$0.46
—
- -
$94,340 for regular
$0.68
the present
•
1936
$833,712
283,671
24 Weeks Ended June 13—
Profit
1935
$602,553
324,973
38,330
10,814
9,652
38,740
276,008
107,588
11,961
629
50,964
104,866
397,422
$0.10
dividend on series A preferred,
$194,105 to be added to surplus.
The balance sheet of June 13 shows current assets of $8,517,186 and
current liabilities of $3,068,197, which included $711,600 used July 1 to
retire the 7% preferred stock of the Mollohon Manufacturing Co.,
entire common stock is owned by the Kendall Co.
The net working
on June 13 was $5,448,989.
„,, ^
,
,
•,
The company on Sept. 1 will redeem $300,000 20-year 5)^% debentures,
series A, due Sept. 1, 1948.
The debentures to be redeemed have
selected by lot, and holders will receive par and interest together
a
premium of 2%.
Of the total amount, $100,000 is being
operation of the sinking fund, while the company is exercising
under the trust agreement in calling the remaining $200,000.—V.
p. 760.
'
was
whose
capital
been
with
redeemed through
its option
143,
Kentucky Power & Light
Co. (&
1936—3 Mos
Period End. June 30-
•1935
Subs.)—Earninqs1936—6 Mos—1935
$164,437
$146,423
$353,617
$318,542
81,476
68,110
11,596
18,282
xl2,114
9,353
18,764
10,387
170,507
18,529
37,540
x26,693
149,587
16,176
37,795
19,797
$40,967
$39,808
$100,346
Drl24
815
Dr 96
Gross income
$40,843
$40,624
$100,249
19,651
15,498
20,098
32,727
39,660
30,990
$96,195
40,196
65,419
673
704
1,370
1,409
$5,019
loss$12,906
Total oper. revenues
Operation
Maintenance
Provision for retirement
.
Taxes
Net operating income.
Interest on funded debt-
General interest
Amortization of debt dis¬
count and expense..--
23,768,313
Net income
'
$95,186
1,008
y$28,228 loss$10,830
undistributed profits,
1,247,450
2,990,979
237,199
.162,695,760 174,083.049 193,587,308
1441.
-Earnings—
Shares of common stock-
4,940,519
Liability to scrip holders subject to
Total
9,948,532
1935.—
1936 and $5,902,267 in
1082.
Kelvinator Corp.
Long-term indebtedness placed under
allocation plan:
„
....10,309,112
Total.
of $6,117,973 in
After depreciation
a
V. 143, p.
Other income.-
.162, 695,760 174,083,049 193,587,308
Total
Indebtedness to
206,410
10,000
4,544,447
2,623.546
Capital surplus—
14,564,038
94,164,001 100,136,871 131,903,542
4,867,569
3,837,663
3,778,682
62,722,151
64,860,405
50,101,277
Property, buildings & equipment....
General
10,000
,523,946
,624,546
_
Assets
Funds dep. with trustees
654,371
237,199
Balance, profit.
x Includes dividends.
36,309
35,060
301,869
104,936
Inventories
3,756,586
73,373
Deferred charges..
company
Sundry debtors
there
10,800,000
20,384,930
42,653
Prov. for red. of outstanding scrip
Balance Sheet
200.511
1,745;672
16,029,946
inc.
for Fed.
taxes curr. year.
Net profit
Common shares outstanding
877,100
_
147,447
with
Res.
affil.
1934
Reichsmarks Reichsmarks Reichsmarks
Gross
on
57,812
to
prior
on
imports &
legal expenses in
connection there¬
mutual
loan
additional
duties
years
reserve)
10,400
60,921
7,400
74,362
Res. for
1,054,949
65,404
Cash
675,287
2,346,644
2,009,500
mtges.
of affiliated cos.
Investments
Oess
pref..
Common stock
Bonds and
483,306
574,981
,009,500
Accounts payable.
trade-mks.;
goodwill
Kendall
1935
1936
Losses
20,000
Ctfs. of deposit—
Pats.,
1,933,707
20,000
$
S
Liabilities—
Employees'
chinery & equip. 1,933,072
1935
1936
S
Land, bldgs., ma¬
fiscal year
Years Ended Jan. 31—
$4,190,671
June 30
1935
$
Assets—
-Earnings-
(Rudolph) Karstadt, Inc.
$4,371,131
3l", 651
65,979
deprec. & Fed. taxes..
$7,614,312
2,844,965
1,800,261
$4,544,447
201,010
Consolidated Balance Sheet
Total
Southern Ry.—Earnings
1936—Month—1935
$4,503,845
100,505
32,209
1,222,322
33,760
$4,779,217
$4,523,946
Period End. June 30—
Period End. July 31—
Total
100,000
$5,290,289
663,138
37,225
Net profit after
Rents
126,751
prior
-
$912,228
3,793
143, p. 591.
Kansas City
121,711
Employees' pref. divs—
Adj. of cost of minority
interest in Australian
sub. co. to its equity
value at July 1, 1935.
Demand
1936—12 Mos.—1935
$6,577,311 $6,128,969
5,072,429
4,858,558
298,870
358,183
71,594
$47,605
Operating income
Non-oper. income
186,423
heretofore applied
as reserve against in¬
ventory now transfered
to surplus (net)
insurance cos
1936—Month—1935
$520,304
$499,609
431,660
427,034
28,217
30,953
408,085
years
Dep. with
Taxes
Net deficit
645,842
Notes & accts. rec.
Public Service Co.—Earnings—
Period End. July 31—
Operating revenues
Operating expenses
—V.
$273,266
,831
663,468
129,744
!,211,904
588,113
143, p. 926.
Kansas City
.
109,321
2,212,682
47,561
Balance
-V.
$4,100,610
Austra¬
Special recoveries in
Period End. June 30—
Operating expenses
Interest
charges
$4,190,671
Common dividends
1936
x$237,830
The balance sheet as
Amortization of discount
$4,371,132
for year
Total
,
1933
1934
1935
$4,544,447
year.
Net income
^195,967
'$1.49
$1.38
stock (no par)
Co.—Earnings—
Kalamazoo Stove
Gross earnings
Year Ended June 30
beginning of
at
lian affil. company
(& Subs.)—Earnings—
30—
Earns, per sh. on 131,411 shs. capital
—V. 142, p. 130; V. 141. p. 279.
Kansas City
sur$90,061
412,120
$0.22
1936
Earned—
Adj. of invest, in
6 Months Ended April
x
$54,521 sur$173,315 sur $53,709
401,900
402,020
$1.51
$0.93
$0.38
share on com.
Earned Surplus Account
Grand Rapids, Mich.—Earnings—
6 Months Ended, June
Net
$121,712
31,651
401,900
$5)
Shs.
Earns, per
$186,423
32,209
100,505
$408,085
33,760
201,010
663,138
stock
1936.—V. 143, p. 760.
30—
Net profit after all charges
Earnings per share on 150,000 shares capital
400,711
35,060
$645,842
37,225
Net income.
of $1,283,338 in
(W. B.) Jarvis Co.,
38,222
6,528
10,670
"2,670
.
-
Empl. pref. stock
10.367,095 9,111,176
1936 and $1,120,401 in 1935.
y Represented by 280,000 shares no par value,
x After deducting reserve
for doubtfiil accounts,
a Includes $85,260 wage extra, payable Sept. 19,
—V. 142, p.
8,000
commitm'ts
Miscell. deductions-
331,401
2,077,054
Total
9,111,176
10,367,095
depreciation
After
x
11,844,716
$745,844
277,918
Prov.
Res. for alter., im¬
Total...
13,702,475
Other income
Prov. for silk
losses
prove.
expense
operation
administrat'n
_
Depreciation
fire
and
dents
^
**
10,056,734
and
Cost of sales, selling
213,851
346,321
Res. for auto acci¬
11,784
943,409
1,035,952
Deferred charges..
55,114
59,219
460,332
285,000
Federal taxes
Net sales.
Income from
1934
1933
$11,598,858 $10,455,895
1936
1935
$14,448,319 $12,389,845
30—
Years End. June
Total income—
Tranding
240,398
34,121
6,780
employees__
Miscell. invest. &
408,77
payable
Divs.
39,563
1,216,085
185,080
for
$
4,935 462
held
stock
Com.
July 1 3' 35
Common stock.. 4,935,46
Letters of credit &
1,895,686
201,328
2,197,677
Inventories
<
y
1
2,025,593
183,612
Investments
2,989,632
Trust funds
443,164
Life insur. policies
46,659
Cash
1,469,783
Goodwill
3
$
Liabilities—
2,000,634
1,946,715
Capital assets.__
x
July 11
July 13 '35
^
1936
22j
Aug.
Chronicle
x No provision has been made for Federal surtax on
As of Feb. 29, 1936, the common capital of the company was
The capital surplus resulting therefrom was utilized to absorb certain
sheet adjustments and to eliminate the deficit existing at that date
included $18,691 of net income for the first two months of the year.—
V..142, p. 4344.
y
reduced.
balance
which
Volume
143
Financial
Chronicle
Kennecott Copper Corp.—30-cent Dividend—
The
directors
common
stock,
a
dividend of 30 cents per share on the
value, payable Sept. 30 to holders of record Sept. 4.
A like
many of the
at
payment was made on June 30 last and compares with 25 cents
paid on March 31 last; 20 cents on Dec. 26, 1935, and 15 cents per share
paid each quarter from June 30, 1934, to Sept. 30, 1935, inclusive.
The
June 30, 1934, dividedn was the first
paid on the common stock since
Jan. 2, 1932, when a dividend of
12^ cents per share was distributed.
—V. 142, p. 3513.
1936—3 Mos.—bl935
$2,067,480
641,513
__
Operation.
_____
Maintenance
Prov. for retire, reserve.
Taxes...
operate
a
.
$4,080,896
1,288,255
$3,883,233
254,048
398,608
c474,930
233,446
409,352
469,168
L,665,053
45,780
574,665
136,828
209,352
228,168
price of $1 per share.
brewery under licenses granted by
holds permits granted by the
Company has acquired the
property located at 1800 E. Forest Ave. (corner of Orleans) in Detroit,
together with all the buildings situated thereon and equipment located
therein, and other personal property formerly used by other persons in the
operation of a brewery at this location.
'
The machinery and
equipment is of modern design and the product of
some of the foremost
manufacturers of brewing equipment, and is arranged
to operate almost
wholly as a gravity system.
This is considered by uathorities on these matters to be the most efficient type of operation.
The plant has a present capacity of approximately 60,000 barrels of
beer per year.
Contracts are to be let to erect another building and
install facilities to
bring the total capacity to approximately 120,000
1936—6 Mos.—bl935
$1,921,061
122,907
200,010
c251,711
_____
a
Business—Company will
the State and Federal authorities.
Company
State of Michigan and Federal Government.
Kentucky Utilities Co. (& Subs.)— -Earnings—
Period, End. June 30—
Total oper. revenues.
140,000 shares of the stock issued to the bankers
escrow and they will also realize a cash profit of 15% on so
remaining 260,000 shares they may actually sell to the public
will be placed in
have declared
no par
1235
to encumbrances and
liens.
$1,629,721
35,427
1,141,545
barrels per year.
Net operating income-
$851,338
22,728
Other income
$772,046
16,782
Management—The following
are the officers and directors of the company:
Stuhr, President & Director; Hugh Bevier, Vice-President; Ed¬
Boell, Secretary & Treasurer & Director; Seymour H. Franklin,
director; George A. Nicholson Jr., direcotr.
N. A. Schlangen, director.
Jean
C.
mund J.
Gross income
$874,066
$788,829
$1,710,834
$1,665,148
debt
92,696
interest-
3,781
95,865
4,739
185,484
4,871
191,922
6,689
11,77a
10,710
23,556
21,421
Subsidiary Cos.—
Int.
funded
on
long-term
General
&
(S.
other
Amortiz. of bond disc. &
expense
Amortiz.
of
pref.
commission
Divs.
&
$6.50
on
stock
1,853
expense
cunr.
pref.
Interest
40,512
Four Weeks Ended—
1936
25
_____.$16,633,230
Feb. 22
___^___
17,534,229
81,513
80,798
371,693
743,386
6,276
744,642
3,227
371,693
2,804
7,368
Mar.21
17,540
of
bond
18,607
35,080
37,244
Apr. 18
May 16
$331,340
$243,895
$627,674
$574,346
disc.
& expense
17,939,108
_____
June 13.
Net income before pre¬
ferred dividends
Divs.
of
6%
on
pref. stock
Co.
pref.
stk.
tucky
a
The
Util.
114,016
114,016
228,033
228,033
a
of
$3991641
for
$129,879
the
six
$346,313
$399,641
months
ended
June
30,
Lautaro
Lexington Utilities Co. and its subsidiary, Lexington Ice Co.,
acquired by Kentucky Utilities Co. on Nov. 30,. 1935, have
in the 1935 figures above for
comparative purposes only,
No provision has been made for Federal surtax on undistributed
profits.
were
Income Statement
»
oper.
1936—3 Mos.—1935
$1,623,970
$1,494,499
& taxes
x955,330
889,736
Total oper. exps.
Net oper. income
Other income (net)
$1,260,159
17,497
$604,763
$1,306,545
8,020
24,470
$612,784
$1,331,015
392,037
784,742
$288,648
$220,746
$546,272
114,016
114,016
228,033
$490,537
228,033
$174,631
income
on
$3,013,380
1,753,220
$681,109
392,460
Gross income
Net
$3,217,285
xl,910,739
$668,640
12,469
Total int. deductions
Divs.
1936—6 Mos—1935
revenues.__
$106,730
$318,239
$262,504
6% pref. stock.
Bal. before divs
.on
jr. pref. stock
$1,277,657
787,120
7%
_____
No provision has been made for Federal surtax
—V. 143, p. 591.
x
on
In summary
undistributed profits.
,
.
Kimberly-Clark Corp.—Special Dividend—
The directors
on
Aug.
18 declared
a
special
dividend
share in addition to the regular
quarterly dividend of 12
on
the common stock, no par
value, both
record
Sept. 12.—V. 143,
p.
of 25
cents
cents per
payable Oct.
1
to
per
share
holders of
591.
Kirby Petroleum Co.—Earnings—
Net
profit
after
Earnings for 4 Months Ended April 30, 1936
depreciation, depletion, estimated Federal
income taxes, &c_
$52 494
$0.10
_
Earnings per share on 500,000 shares capital stock (par
$1)
—V. 143, p. 760.
'
Knight Screw Products Co .—Stock Offered—J. M. Butler
& Co., Detroit, recently offered 63,096 shares of common
stock a-t par ($4 per share).
and in Michigan only.
Shares offered to residents of
Capitalization—Authorized, 112,500 shares; to be issued and outstanding,
112,500 shares.
Of the 112,500 shares to be outstanding 49,154 shares have
been issued
to Epworth Screw Products Co.
(formerly Knight Screw Products Co.)
in exchange for all of the assets of that
company, subject to liabilities,
of which
amount 40,000 shares have been escrowed
with the Michigan
Corporation and Securities Commission.
History and Business—The business of company dates back to 1918 and
operated as a co-partnership from that year until 1932, when Knight
Screw Products Co.
corporation
was
(Mich.) was formed.
On April 23, 1936, the
present
organized and acquired the assets of the predecessor cor¬
poration, subject to liabilities.
The manufacturing plant is located at 6510-6526
Epworth Boulevard,
Detroit, Mich.
Company's property includes a large, modern manu¬
facturing plant and general offices.
Company at the present time operates
approximately 100 machines, a large number of which are automatic screw
machines.
Management—Company is under the management of the following:
C. Knight (President, director and sales
manager), Frederic D
Hegwood (Vice-President, director and plant manager) and Frederick F
Bastien (Secretary-Treasurer, director and office
manager).
Purpose—Proceeds from the present financing will be used as followsAdditional land, $15,000; additional buildings,
$30,000; new equipment,
$60,000; retirement of obligations, $23,383; working
capital, $85,292.
William
Kobacker Stores, Inc.—To Be Added to List—
The New York Curb
stock,
no par, upon
Kraft
Exchange will list 7,818 additional shares of
notice of issuance.—V. 143, p. 760.
Brewing
Co.
(Mich. )—Stock
common
Offered—Whitlock,
Smith & Co. and Max Schlachman & Co.,
Detroit, recently
offered 260,000 shares of capital stock at $1
per share.
Stock offered for sale within the State of
Michigan only.
Capitalization—Common
issued 400,000 shares.
Transfer agent: National
stock—authorized—500,000
Bank of Detroit.
National Bank of Detroit.
Capitalization—Company
shares
($1
Dar)
Registrar: Manufacturers
recently incorporated in Michigan with a
(par $1).
Company has issued to the bankers 400.000 shares of common stock and
has granted them an option to purchase the
remaining 100,000 shares at
$1 per share which option may be exercised at any time within
the period
of one year after the date of the first actual delivery of beer
by the company
The consideration for the stock and option was the sum of
$221 000 in
cash, and the conveyance to the company of certain property subject
was
total authorized capital stock of $500,000
Nitrate
Co.,
$128,874
Ltd.—Plan for
The company announces a plan for the resumption of interest and
sinking fund payments on its debt after a four-year suspension of payments
enforced upon the company by the effects of the depression and the subse¬
quent changes and restrictions which have become continuing factors in
the world nitrogen markets.
Following the severe crisis of 1931 the directorate of the company has
been engaged in an extensive program of adjusting the affairs of the com¬
pany to changed conditions, rehabilitating its working capital and for¬
mulating a plan of reconstruction for the company's debt and capital.
The plan has been formulated aftfer full consultations with committees
representing the company's $31,357,000 1st mtge. 6% conv. gold bonds
due 1954, listed in New York; its £1,746,685 1st mtge. sterling bonds,
listed in London; its banker creditors and substantial holders of the com¬
pany's preferred and common stock.
The basic conception of the plan is the application by the company of
its entire current income from year to year to the service of its debt after
providing moderate working capital and renewal reserves, with some
equitable provision for future dividends on its new share capital.
{Company Only)
Period End. June 30—
(& Subs.)—Earnings—
Resumption of
Interest and Sinking Fund Payments—Medley G. B. Whelpley,
Chairman, has issued the following statement:
of
Total
16,167.308
in operation during the
the corresponding period
Net loss after depreciation and other charges
—V. 143, p. 926.
been included
c
16,083,491
16,639,694
Earnings for 6 Months Ended June 30, 1936
1936,
Lexington Utilities Co. and subsidiary com¬
pany, amounting to $91,551 in excess of dividend
requirements for the
period on preferred stock of that company held by the public.
Total
unpaid cumulative dividends on preferred stock of Lexington Utilities Co.
held by the public amounted to
$210,800 at June 30, 1936.
b The opera¬
which
1933
ago.—V. 143, p. 591.
La France Industries
$217,324
above includes net income of
tions
year
Ken¬
Co_a__
balance
18,729,438
18,914,446
company had an average of 4,230 stores
four weeks ended Aug. 8, 1936, as against 4,301
7%
on
of
_____
July 11
Aug. 8
18,300,976
18,562,984
18,303,943
1934
1935
$17,182,877 $15,401,157 $14,628,143
17,609,448
16,692,181
14,844,670
18,072,214
17,380,973
15.231,342
18,545,165
17,354,758
15,314,935
18,801,918
17,135,060
15,952,289
18,032,395
17,483,570
16,026,489
17,203,177
16,792,328
17,000,963
The
Kentucky Util.
Bal.before divs.
Voted—
Increase
Co.—Stock
Jan.
interest.
Amortiz.
&
a
common
Kroger Grocery & Baking Co.—Sales—
40,155
Co-
funded debt.
on
General
Utilities
Kress
meeting held Aug. 18 voted to increase the authorizedshares from 1,500,000 to 2,678,787 to allow for the
exchange of the outstanding 1,178,787 shares of common stock on the
basis of two new shares for each
present share.
The action largely duplicat¬
ed that taken at the annual
meeting on May 12, and was in compliance with
requirements of the Secretary of State of New York.—V. 143, p. 1082.
of
I
stk. of Lexington Util.
Co. held by the public
Kentucky
3,706
H.)
Stockholders at
number
the plan provides
as
follows:
There is to be no reduction in the principal amount of the bonds out¬
standing and the mortgage liens are to remain undisturbed, but the existing
dollar bonds are to be exchanged for new income bonds maturing Dec. 31,
1975, and the sterling bonds are to be changed to income bonds of the
same maturity.
Indebtedness to the banker creditors is to be reduced
from £2,927,026 to £2,011,623.
The existing preferred and ordinary share capital of £8,100,000 is to
be reduced to £2,193,366, represented by 2,147,533 ordinary A shares
of £1 each, and 2,200,000 ordinary B shares of five pence each.
Of the
A shares, 1,122,533 will be distributed to the dollar and sterling bond¬
holders, 225,000 shares to the banker creditors in exchange for the reduction
of the indebtedness to them, and 800,000 shares to the holders of the present
preferred stock.
The new ordinary B shares of reduced stated value will
be exchanged for the present ordinary shares.
Interest on all debt is to be placed on a non-cumulative annual income
basis with interest on the bonds payable, if earned, up to 4% per annum
and interest on the debt to the banker creditors payable, if earned, up to 2 %.
Commencing with the financial year ended June 30, 1936, the entire
profits of the company, available for the service of the company's funded
debt, as defined in the new trust deeds, will be applied 75% to interest
and the balance to sinking fund for a period estimated to expire in 1943,
and thereafter 80% of such available profits will be applied, 80% to interest
and the balance to sinking fund.
The remaining 20% will this become
available for dividends on the new share capital.
A statement of the profits of the company for the financial year ended
June 30, 1936, is not yet available, but preliminary estimates indicate
that the profits available should enable an interest payment of approxi¬
mately 2%% on the new bonds and a payment of 2% on the indebtedness
to the banker creditors for the year 1936.
In addition, it is proposed
to make a cash capital payment of 1% as to all debt.
These payments
are conditional on the consummation of the plan.
By the provisions of Law No. 5350 of Jan. 8, 1934, of the Republic of
Chile, the proceeds of the company's stocks of nitrate on hand in Chile
on July 1, 1933, arid of certain accounts receivable are to be applied first
to the payment of indebtedness to the Central Bank of Chile q,nd then
to the payment of the banker creditors debt.
By the terms of the plan
the banker creditors agree to look only to these proceeds for the repayment
of their principal and to cancel any portion of their principal which is
not thus repaid.
,
•
All arrears of fixed charges on the funded debt as well as on the banker
creditors debt are to be waived in consideration of "these arrangements.
The company was organized under the English Companies Acts and for
this
reason
the proceedings for carrying out the plan have been commenced
the English courts.
As a part of these proceedings a meeting of the
has been called for Sept. 24 in New York for the
of considering the plan and if thought fit approving it.
Bankers Trust Co., 16 Wall St., N. Y. City, has been appointed agent
of the company to receive deposits of the dollar bonds, against issuance
of transferrable certificates of deposit.
Application t,o list these certificates
on the New York Stock Exchange will be made.—V. 142, p. 3681.
in
American bondholders
purpose
Lehigh Coal & Navigation Co.—Earnings—
12 Months Ended June 30—
xl936
1935
$605,638
$536,749
$1,810,572
$0.31
$0.27
$0.94
ing from direct operation and from
railroad rentals, divs., &c., after
taxes and charges. II
$1,734,423
Earnings per share on 1,930,065 shs.
capital stock (no par)
$0.90
$1,704,385
$1,882,724
$0.88
$0.97
1934
net income, incl. com¬
pany's proportion of undistributed
earnings and losses of subs, whose
Consolidated
stock is either owned
or
controlled,
after interest, taxes, deprec., deple¬
tion and reserves.
Earnings per share on 1,930,065 shs.
capital stock (no par)
Net income of parent company accru¬
x
No provision has been made for Federal surtax
142, p. 3175.
—V.
on
undistributed profits.
Financial
1236
Co.—Initial Dividend—
Cap Gold Mining
Lava
declared an initial dividend of 2
the common stock, par $1, payable Sept. 30 to holders
—V. 142, p. 3681.
The directors have
income taxes and
140,
_
Provision for retirement.
.
.
"
$134,419
9,667
$285,769
21,441
$286,634
19,703
$144,086
$307,210
59,303
118,797
5,130
56,134
debt
3,356
interest
4,002
'
'
Net income before pre-
ferred
x
has been made for
591.
143, p.
Earnings for 12
$73,397
$172,349
$167,643
Federal surtax on undistributed profits.
&c—
x
$253,751
x$271,682
Earns, per sh. on 350,140
shs.
(par $5) cap. stk.
x$426,180
_ „
$1.18
$1.21
$0.72
$0.77
189,539 shs. common stock (no par)
provision has been made for Federal surtaxes on
Other
530,089
571,850
252,180
42,284
105,118
554,394
218,674
$1,250,703
$789,826
156,541
charges
Interest
Federal taxes,
&c—---
1935
1934
$18,326
$30,660
$21,500
$11,827
$0.39
$0.23
Nil
Consolidated Balance Sheet June 30
1936
1936
$
5,909,405
6,268,413
3,457,472
4,019,425
Notes & accts. rec 21,741,612 21,567,137
Inventories
33,553,705 28,889,315 Conv. debentures 17 ,594,000 17,751,000
Pref. stk. of subs
1 ,000,000
1,000,000
Adv. & miscell. in¬
Property acct
-.
;
5,458,141
1,898,780
vestments
Deferred charges..
8,456,894 Min. int. sub. cos.
common stock..
1,937,355
Note & accept, pay.
Goodwill, trade
mark, &c
RR.—$5,000,000 4s Authorized—
Accounts
bond the new $5,000,000 issue. It was further bonds
Sroviso for register for the holders of the outstanding pointedand that it was
out that there
Operating revenues
Operating expenses, maintenance
reserve) $5,276,507
380,945
(before approp. for retire,
Other income
-
Net operating revenue and other income (be¬
fore appropriation for retirement reserve)
Appropriation for retirement reserve—
Amortization of contractual capital expenditures. -
$5,029,716
392,101
37,000
:
$4,595,452
$4,359,818
Interest charges (net)Amortization of debt discount and expense
1,411,594
1,525,317
Other income deductions
on
13,647
Gas & El. Co.(Ky.)
Net income
Earned surplus, beginning
of period—
Total-..-
___
—
stock—cash..:
Settlement of prior years taxes in litigation
Discount, premium and expense applicable
Dividends on common
off
McWilliams Dredging
6 Mos. End. June 30—
-V. 143, p.
y$393,416
$200,381
$4.08
$3.11
$1,690,798
■ 4,458,509
$1,325,322
4,543,109
$6,149,307
1,351,977
$5,868,431
1,351,977
56,710
$2.97
$1.37
Revised.
No provision was made for Federal surtax on undistributed
—V. 143, p. 1083.
Madison Square
Years Ended May 31—
Income
_•
profits.
Garden Corp. (& Subs.)—Earnings—
1933
1936
$2,932,352
1935
$2,715,435
1934
$2,290,772
$2,658,887
2,336,664
37,500
2,156,994
2,006,742
2,289,200
58,972
60,000
60,000
ministrative expenses.
Int.
on
Loss
on
bonds & mtges.
sale of cap. assets
.
Allowance
for
13,327
doubtful
1,000
258,041
46,122
10,000
265,432
31,141
283,030
Prov. for Fed. inc. taxes
290,315
1,000
Net profit—
Surp. at begin, of period
x$253,024
984,174
$179,568
951,563
def$59,000
1,024,234
$18,372
1.034,490
$1,237,198
$1,131,131
146,957
$965,234
13,670
$1,052,861
28,627
$1,036,369
$984,174
$951,563
$1,024,234
286,900
$0.88
281,900
$0.64
271,900
Nil
288.700
$0.Q6
accounts..
Deprec., amortiz., &c_-
Total surplus
..
Adjustments (net)
Dividends paid
200",829
Surplus, May 31
shares
Common
out¬
standing (no par)._i_
Earnings per share
Madison Square Garden Corp.'s proportion
of the profit for the period of its affiliate, the Boston Garden Corp.
x
78,043
101,326
Does not include $4,810,
Consolidated Balance Sheet May 31
3,262,008
$1,180,952
Assets—
1,235
$4,458,509
1083.
1936
Cash
1,736
599
Accounts
$736,206
2,098
1,550
Accrued
—
securs.
6*194
Invest, in affil. cos.
Advance
4,962
166,503
Notes & accts.rec.
3,978,602
154,297
37,116
1st mtge.
158,305
69,473
Capital stock
Surplus
$5,137,439 $5,295,088
11,593
100,000
(current)
100,000
•
.
y
60,923
and
1st mtge. (non-cur.)
x
Total
of
sale
rentals
ing space, &c—
4,155,802
terests si
asked for an order authorizing
the issuance of the new bonds in the amount of $9,000,000.
These bonds
will have a conditional sinking fund which shall be dependent upon earnings
available after operating charges, depreciation and equipment replacements.
It is also proposed that the estate and related interests shall accept
$8,954,400 of 5% preferred stock in lieu of the open indebtedness due them
54,555
sales of advertis¬
equipment
mortgage
the existing issues held by the public.
The
Railroad Commission has been
9,624
71,620
tickets, &c
Adv.
Land, bldgs. and
Deferred charges..
z
$32,436
12,447
local taxes
550
"
166,503
Deposits
y
1935
$32,760
Federal, State and
Rec. due fr. officers
<fc employees
1936
payable.
expenses.
Liabilities-
1935
$792,028
Inventories
Marketable
Los Angeles Ry. Corp.—Files Financing Plan-—The company has filed an application with the California
Railroad
Commission to reorganize its financial structure for the purpose of gradually
placing the company in a position to rehabilitate the street railway system.
It is p
*
$131,985
x$286,401
y
1,354,920
(net)
period.
1933
1934
1 35
profit after deprec.,
Earnings per share on
96,350 shs. cap. stock
x
Co.—Earnings—
1936
taxes, &c
175,000
Expired debt discount and expense
Earned surplus, end of
Net
Federal income
taxes, prior years.
Miscellaneous
$2,680,242
1,354,920
to
funded debt retired
Deposits in closed banks written
Provision for estimated additional
141,979
12,279
$3,045,718
-
pref. stk. of Louisville
$5,657,452
1,025,000
124,492
—....
_
...72,940,078 70,217,579
Total.-
After depreciation
Operating, general & ad¬
$5,421,818
1,025,000
37,000
-
11,694
600,000
and amortization,
b Represented by $5 par shares,
c Represented
by 533,000 no-par shares.
The holders of 2,084 shares of
preference stock, series A 7% convertible, yet to be surrendered for can¬
cellation and exchange, will be entitled to receive therefor, upon surrender
of the certificates for cancellation, certificates for 2,605 shares of preference
stock, $3 series, and certificates for 1,042 shares of common stock.—
V. 143, p. 1083.
a
consent.
(Del.) (& Subs.)—Earns.
1936
*935
--$10,788,890 $10,084,839
and all taxes
5,512,383
5,055,122
70,217,5791
72,940,078
Total
not
Louisville Gas & Electric Co.
506,819
9,251
375,000
--4, 667,520 11,104,709
3,356,849
4, 865,549
Capital surplus
Earned surplus
no
possible to ascertain their ownership in order to secure the necessary
The income of the road is derived from rentals paid by the Penn¬
sylvania, based on a fixed dividend on the capital stock and interest on the
bonds.
Therefore, any sinking fund payments for the bonds would have
to be made by the Pennsylvania.—Y. 142, p. 1475.
946,969
Fed. & foreign tax
The Commission
148,227
3,687,855
4,763,604
774,648
346,828
159,567
4 ,228,303
5 ,522,184
Mtge. payable
Res. for conting..
«
did not require the road to establish a sinking fund for
Approval of the issue had been delayed since March because of
differences over this matter.
.
The Commission in its decision pointed out that the mortgage under which
the bonds are to be issued provides that all bonds issued thereunder shall
be "without preference, priority or distinction as to any of them."
The
Little Miami held that it could not, without the consent of the holders of
all the outstanding bonds, of which there are $1,016,000, execute an in¬
denture supplemental to the general mortgage containing a sinking fund
payable
Accrued accts. pay.
the bonds.
12 Months Ended June 30-^
$
Liabilities—
21,323,250
7% pref. stock
$3 series pref. stk c26 ,650,000
b Common stock.
6 ,414,915
5,348~915
Cash.
$0.06
<
1935
$
1935
$
.
■
$0.17
and betterments.
Divs.
yl2,802
$1,012,973 def$417,585
$0.33
$0.04
$0.35
Provision for foreign income taxes.
deduction has been made for the surtax on undistributed
profits for the six months ended June 30, 1936.
Interstate
Balance
36,228
105,941
y
Commerce Commission has authorized the company
$5,000,000 of general mortgage 4% bonds, series "B," and $91,700
of 4% special guaranteed betterment stock, to be delivered at par to the
Pennsylvania RR. in reimbursement of expenditures made for additions
,
624,702
Note—No
a
1936
Gross income
575,504
348,076
398,655
to issue
Net oper. rev.
$362,090
on
Assets—
1933
Earns, per sh. on 60,000
shs. com.stk. (par $10)
i
$2,081,116
42,221
102,342
stock
common
—V. 142, p. 3348.
The
173,831
$1,796,116 def$342,897
285,000
704,987
preferred
share
per
is made with
charges
Little Miami
$1,710,296
Minority interest
stock, $3 series
Co.—Earnings-
Lindsay Light & Chemical
and taxes....
—
175,753
210,794
$1,180,207
,273,847
42,573
sales
on
Earnings
x$302,597
$1.60
unidstributed
profits.
Note—Due to change in depreciation policy no comparison
corresponding period of previous year.—V. 142, p. 3348..
6 Mos. End. June 30—
229,694
$1,999,220
274,627
Depreciation
Net profit..
Dividends on
Ended June 30, 1936
depreciation, Federal income taxes and other
Net income after
Inc. (& Subs.)—Earnings—
1936
1935
1934
1933
$71,448,627 $63,296,723 $62,603,239 $48,874,789
expenses—__ 69,219,714
61,905.722 60,631,370 49,043,856
undistributed profits.—V. 142, p. 3176.
charges
Earnings per share on
No
Subs.)—Earnings
1936—7 Mos.—1935
$452,968
$304,395
1936—Month—1935
$51,042
$30,424
Total income
$414,922
Earnings for 12 Months
x
-1935
—V. 143, p. 761-
Other income-
Lily-Tulip Cup Corp.—Earnings—
Net profit after
1936—6 Mos.-
$97,598
31—
charges
Net inc. after all
Net sales
_
Before Federal surtax on
Co.—Earnings—
1936—3 Mos.—1935
$53,479
$220,719
$96,372
ended June 30,1936 profit was $405,028.—V. 142, p. 4024
For 12 months
1936—6 Mos.—1935
1936—3 Mos.—1935
_
543,760
$1.41
$1.43
but
Profit after charges,
Profit
profit after deprec.,
Federal taxes,
539,360
McCord Radiator & Mfg.
Period End. June 30—
Costs and
$11,596
(& Subs.)—Earnings—
Life Savers Corp.
539.360
$1.51
6 Mos. End. June 30—
Weeks Ended March 21, 1936
depreciation and interest charges.
2281.
Period End. June 30—
Net
539,360
$1.52
\no par)
standing
McKesson & Robbins,
Net loss after
—V. 141, p.
$767,094
McGraw-Hill Publishing Co., Inc. (&
(& Subs.)—Earnings—
Liberty Baking Corp.
$770,914
Shares common stk. out¬
Earnings per share
—V. 142, p. 3514.
Period End. July
„
$83,491
dividends—
No provision
—V.
$813,915
________
■
■
1933
1934
1935
1936
$819,031
Federal taxes
3,706
1,853
commissions & exp—
Corp.—Earnings-
McCall
14,765
14,765
stock
pref.
of
-7,382
7,382
count and expense
Amort,
80,993
96,967
31,015
43,638
before Federal taxes—
Amortization of bond dis-
1936—8 Wks.—1935
$2,548,732 $2,246,441
3513.
6 Mos. End. June 30—
Net inc. after chgs. and
$306,337
112,359
4,029
funded and
long-term
General
31,526
59,003
$141,893
10,324
Gross income
on
13,665
$827,758
172,251
163,101
26,466
61,959
117,347
$152,218
Net oper. income
Other income (net)
Interest
90,770
12,916
30,849
x60,377
Maintenance
$850,413
181,070
180,135
24,949
60.944
xll7,543
$410,316
$433,304
95,197
92,071
Ltd.—Earnings—
1936—4 TFAs.—1935
$1,276,588
$1,065,642
profit after charges
—V. 142, p.
1936—-6 Mos,- -1935
1936—3 Mos.—1935
Period End. June 30—
Total operating revenues
Taxes
Sales
and income taxes
-Earnings—
Co. (& Subs.)
old issues
issue.—V.
-
Period End. July 31—
$83,518 prof$46,673 prof.$46,294
Net
Lexington Utilities
4239.
p.
Loblaw Groceterias,
Federal
other charges
class of stock be non-cumuof all interest and sinking
contemplated that in 1938 the balance of the
be refunded by a new first mortgage bond
is further
It
1934
—Y. 142, p. 3513.
Operation
Power purchased.
by the company and that the dividends on this
ative and to be declared only after payment
charges on all outstanding bonds.
fund
outstanding shall
1935
1936
30—
after int., deprec.,
Net loss
of record Sept. 10.
Corp.—Earnings—
Lefcourt Realty
6 Months Ended June
cents per share on
1936
22,
Aug.
Chronicle
|
700,000
900,000
3,172,647
1,036,369
3,153,375
984,174
Total.. .......$5,137,439 $5,295,088
x Represented by
286,900 no par shares in 1936 and 281,900 in 1935.
After depreciation of $2,184,073 in 1936 and $2,109,241 in 1935.
z After
for doubtful items of $12,329 in 1936 and $20,712 in 1935.
allowance
—V. 142, p. 3682.
Volume
143
Financial
Mansul Chemical
participating dividend of 26 cents per share in addition t,o
regular semi-annual dividend of $1 per share was declared on the
$2 participating
preferred stock, no par value, both payable Oct. 15ito
holders of record Oct.
1.—V, 142, p. 1647.
Maracaibo Oil Exploration
Corp.—Earnings—
3 Mos. End.
x
6 Mos. End.
Mergraf Oil Products Corp.—Registers with SEC—
June 30 '36 June 30 '36
Consolidated profit after ordinary taxes,
depreciation, depletion and other charges
See list given
x$6,838
$4,135
The directors
Calculating Machine Co.—Earnings—
Period Ended June 30, 1936—
3 Months
Net income after
expenses, Federal income taxes
and est. surtax
Earnings
stock
undistributed profits
per share on 196,269 shares common
on
$146,567
common
This
6 Months
_
^
(par $5)
$1.27
$0.72
—V. 143, p. 761.
12 Months Ended June 30—
1936
6,238,803
Net
oper.
revenue
and
other
$954,697
8,811
$1,197,518
500,000
income
$7,176,410
6,221,713
$1,189,082
8,436
Net oper. rev. (before
approp. for retire, reserve)
1935
$7,427,886
Other income
Aug. 18 declared a dividen
of $2 per share on the
value, payable Sept. 1 to holders of record Aug. 18,
on
no par
with dividends of $1
per share paid in the two preceding
Dec. 2, 1935; $1 per share distributed each three months
1934, to and including Sept. 3, 1935; 50 cents paid each
quarter from Dec. 1,1930 to June 1,
1934, inclusive, and $1 per share,
paid quarterly previously.—-V.
142, p. 4184.
quarters; $2
Sept.
on
1,
Meteor Motor Car Co.—-To Resume Dividends—
Market Street Ry. Co. (&
Subs.)—Earnings—
Operating revenues
Oper. expenses, maintenance and all taxes
stock,
compares
from
$259,030
first page of this department.
on
Merrimac Hat
Corp.—Common Dividend Doubled—
Before Federal income taxes.—V.
142, p. 3682.
Marchant
1237
special
the
See list given on first
page of this department.—V. 143, p. 928.
Period—
Chronicle
A
Co.—Registers with SEC—■
$963,508
397,260
The directors have declared
a
dividend of 50 cents per share on the
capital stock, no
par value, payable Sept. 1 to holders of record Aug. 20.
This will be the first
disbursement made by the company since March 1,
1933 when two
quarterly dividends of 12K cents per share each (or a totai
of 25 cents
per share) were paid.
These latter payments were for the first
half of 1933.—V.
142, p. 2834.
Mexican Light & Power
Co.,
(before
appropriation for retirement reserve)
Appropriation for retirement reserve
$697,518
491,814
25,512
4,571
$566,247
$175,620
4,363,893
102,889
6,782
87*.792
18,638
574
Net income
Earned surplus, beginning of period
Adjustment of prior years' tax accruals.
"
'
"
Profit
on funded debt
acquired for sinking fund-Refunds of Federal income taxes for
prior years,
less expenses in connection
therewith
Miscellaneous additions-
324
$4,598,596
Earned surplus, end of period.
1,663
$4,363,893
Net
earnings
$166,272
$173,456
-V. 143, p. 117.
1936—6 Mos.—1935
$4,005,863
$3,797,702
2,781,851
2,718,679
$1,224,012
$1,079,023
Michigan Bumper Corp.—Earnings—
Net profit after
Earnings for 4 Months Ended May 31, 1936
deprec.. Federal income taxes, &c
$34,977
$0.07
Earnings per shju-e on 472,145 shs. capital stock (par $1)
2,475
$4,365,557
43
Appropriation for special reserve
Miscellaneous deductions
-V. 143, p. 279.
510,611
27,428
6,544
$4,668,149
69,508
Total
Oper. exps. & deprec...
$21,663
4,253,051
*
*
1936—Month—1935
$655,718
$645,470
489,446
472,014
oper.
Gross income.
Interest charges
Amortization of debt discount and
expense
Other income deductions
Ltd.—Earnings—
[Canadian Currency]
Period End. June 30—
Gross earns, from
••
Michigan Steel Tube Products Co.- -Earnings—
6 Months Ended June 30—
Net income after
depreciation, Fed'l income taxes
Earnings per sh. on 200,000 shs. cap.stk.($2.50 par)
1936
1935
x$232,231
$1.16
$237,782
y$1.18
x After
non-recurring reorganization expenses of $13,287 and reserve for
contingencies of $9,301 not set up in the first half of 1935.
y Based on
now
outstanding for six months ended June 30, 1936.
Note—No provision was made for Federal
surtax on undivided profits.
shares
Martin-Parry Corp.—RFC Loan of $300,000—
The Reconstruction Finance
Corporation has made
the corporation for additional
working capital.
In
a
to
$14,400, plus $33,600 advanced by the writer to the corporation for
working capital purposes, or a total of $48,000, has been loaned to the
corporation for a period of six years by the writer,
secondary to the rights
and interests of the RFC loan."—V.
141,
3695.
p.
Maryland Insurance Co.- -Balance Sheet June 30—
Asscts—
Bonds and
1936
1935
Liabilities—
prems..
Losses in process of
of collection
158,208
10,246
Reserve
190,552
and
for
Michigan Sugar Co.—Earnings—
Interest
on
debentures
Profit for the year
on
25,000«
1,000,000
1,174,696
depreciation in the
disposals of
amount of
during the
year.
Assets—
1936
common
listing and registration.
$154,640
149,072
127,672
125,544
58,593
1,212,115
40,564
2,195,151
6,660
10,480
affiliated co
1,189,499
Unexp. ins. prems.
27,200
b Prop'ty accounts 5,507,065
1,173,261
11,473
5,673,162
Accts.¬es
stock, $1 par,
Inv.
$48,704
$0.27
Mengel Co. (& Subs.)—July Bookings—
Assurance
Corp. of N. Y.—Financial
Statement—
June 30 *36 Dec. 31 '35
Assets—
$
$
Liabilities—
Bonds, stocks, &c. 12,272,903 11,501,156
Bond & mtge. l'ns. 1,095,174
1,119,670
Realestate..
939,154
911,281
Prems. rec., &c_.
639,371
476,368
Interest accrued..
22,132
19,658
Cash
1,414,276
1,179,753
Total
-V.
June 30 '36 Dec. 31 '35
$
S
Unearned prems..
Losses payable...
Taxes, &c
Voluntary
reserve.
Capital
Surplus
..16,383,010 15,207,886
Total
3,934,000
345,117
300,508
1,000,000
2,500,000
8,303,385
3,724,159
418,256
300,499
1,000,000
1,750,000
8,014,972
....16,383,010 15,207,886
143, p. 762.
Merchants
ment June
invests.,
in & advs.
After
a
at
to
$466,517
60,759
d32,596
65,182
174,206
& cap.stk.taxes
28,304
Bank loan
510,000
6% cum. pref. stk. 5,609,950
c Common
stock..
747,110
Capital surplus
1,696,636
88,486
765,000
5,609,950
747,110
Accts. pay.—trade
pay
Total
Bonds, stocks, <fec
1935.
b
Premiums receivable, &c
Interest accrued
Cash
Unearned premiums
Losses payable
Taxes, &c
Capital
Middlesex & Boston Street
Period End. June 30—
Net
surplus
468,540
122,724
600,000
743,210
Ry.—Earnings—
1936—3 Mos.—1935
Netprofit..
1936—6 Mos—1935
$14,058
$26,009
$18,021
$29,323
During the Junel936 quarter 2,264,057 revenue fare passengers were car¬
ried at an average fare of 9.4 cents,
against 2,164,561 passengers carried a
year ago at an average fare of 9.4 cents. For the half-year,
4,811,229 passen¬
gers were carried at an average fare of 9.4 cents, against
4,658,261 passen¬
gers carried a year ago at an average fare of 9.4 cents.—V. 142,
p. 3349.
Mid-West Abrasive
Co.—Listing Approved—
The New York Curb Exchange has approved the
listing of 303,720 out¬
standing shares of common stock, $0.50 par.—V. 142, p. 3001.
Milnor, Inc.—EarningsYears Ended May 31—
$293,223
262,991
Merchandise cost and expenses
1935
$344,874
461,729
248,798
$25,211 loss$116,855
3,256
•
4,860
$32,615
10,046
$28,467 loss$ll 1,995
9,149
4,980
$22,569
13,568
Net profit
$19,318 loss$116.975
32,886
year
sur$9,001
sur234,089
150,000
$13,568
paid
Deficit, end of fiscal
1934
•
$274,009
$30,231
2,384
Deficit beginning fiscal year.
Dividends
«''■
1936
.
Net sales.
Miscellaneous income charges.
$384,000
$8,831,838 $9,533,348
for bad debts and allowances of
reserve for
depreciation,
c
After
Gross income
$1,493,546
334,583
5,783
252,211
6,009
226,342
Bond & mtge. loans.
Real estate
1,696,636
152,976
133,132
$5,316 in 1936 and $7,427
Represented by 747,110
no par shares,
d Unpaid processing taxes held in suspense pending final
determination of Federal tax thereon.—V. 141,
p. 2121.
in
Profit from operation
Liabilities—
taxes,
rolls, &c__.
Deficit from oper.
Miscellaneous income credits.
30, 1936—
73,236
prop,
Prov. for Fed. inc.
Indemnity Corp. of N. Y.—Financial State¬
Assets—
1935
$202,320
77,294
.$8,831,838 $9,533,3481
reserve
1936
(est.)..
Processing tax
.
Total
Bookings for July amounted to $761,922 as compared with $575,903
July, 1935, an increase of $186,019, or 32.3%.
For the seven months
ended July 31 last, bookings were $5,377,104,
against $3,790,850 in like
period of 1935, a gain of $1,586,254, or 41.8%.
July billings were $793,816 as compared with $553,804 in July last
year, an increase of $240,012, or 43.3%; while for the first seven months
of 1936 billings totaled $5,107,666 against
$3,741,672 in the same period
a year ago, a gain of
$1,365,994, or 36.5%.
Unfilled orders as of July 31 last amounted to
$1,661,304 against $1,372,056 as of July 31. 1935, an increase of $289,248, or
21.1%.—V. 143, p. 593.
in
Merchants Fire
exps.
Inventories
growers
Acer.
current season..
cost
amortization, interest, Federal
-
180,000 shs. capital stock (par $1)
rec.
growers
Glowing crop
Misc.
on
,
Loans and advs. to
Earnings for 3 Months Ended March 31, 1936
Earnings per share
—V. 143, p. 434.
Liabilities—
Owing to beet
$588,919
114,113
a
Listing and Registration
Exchange has admitted the
1935
Cash in banks & on
beet
Net income after depreciation,
income taxes, &c
$51,576 and losses of $15,209 resulting
properties.
Michigan Sugar Co.'s proportion of the loss
for the year is $65,155, for which no
provision bsa been made in the ac¬
counts of that company.
The Toledo Sugar Co. did not operate its plant
during the year.
Michigan Sugar Co. operated five of its eight plants
$3,076,288 $2,609,007
first page of this department—V. 143, p. 1083.
Master Electric Co.—Admitted to
to
$428,694
Balance Sheet June 30
Total
'
,
The New York Curb
$107,268
*
from
Corp.—Registers with SEC—
given
24,033
72,500
16,640
hand
See list
19,312
Cr 14,024
34,790
25,000
1,000,000
1,652,449
....
capital
—V. 142, p. 629. 463.
Masonite
24,448
C/T2.398
21,007
20,000
Note—During the year ended June 30, 1936 the Toledo Sugar Co., a
subsidiary not consolidated, sustained a loss of $83,314,
including provision
■I
$3,076,288 $2,609,007
1935
$854,560
263,164
60,880
Interest on loans.
Interest earned
Losses on properties sold or retired
Provision for Federal income tax
for
Net surplus
Total
1936
$425,847
265,521
1935
taxes
expenses.__
claims
Cash
stock, $2.50
common
20,600
adjustment
deposit &
on
office.
Exchange has admitted the
listing and registration.—V. 142, p. 3859.
Years Ended June 30—
Profit frbm oper., before prov. for
depreciation..
Provision for depreciation.
$357,880
Res've for all other
accrued..
Cash
$361,092
Listing and Registration—
The New York Curb
par, to
17,146
171,926
10,616
190,425
Interest
in
1936
stocks.$2,717,408 $2,235,913 Unearned
Premiums in course
Admitted to
loan of $300,000 to
•
a letter to
stockholders, F. M. Small, President, stated:
"The RFC felt that $100,000 additional
capital should be put in by the
stockholders, and the board of directors arranged to sed, at private sale,
the 10,700 shares at $8 a
share, which had been purchased on the market
several years ago
by the corporation, or a total received from the sale of the
stock or $85,600.
The difference remaining from the $100,000,
amounting
$32,886
Balance Sheet May 31
Total
$2,318,474
Total
$2,318,474
Assets—
1936
Cash
Merchants
&
Manufacturers
Securities
Co.—Initial,
Extra and Resumed Dividends—
The directors
share
on Aug.
18 declared an initial dividend of 15 cents per
the class B stock, payable Oct. 15 to holders of record Oct.
1.
directors also resumed dividend payments on the class
A stock
declaration of a dividend of 15 cents per share, likewise
on
The
with
a
Oct.
15 to holders of record Oct.
on
the class
A
stock since
distributed.
Oct.
1.
1,
payable
This will be the first dividend
paid
1931, when 20 cents per share was
1935
Liabilities—
1936
$105,264
$51,962
customers
2,883
3,455
Reserve for taxes pay.
Res. for unempl. insur.
rec., miscell
Merchandise inventory
2,640
98,899
1,586
Reserve
Securs. owned (at cost)
4,116
Accts.
rec.,
Accts.
Furn., fixt. & equip.
(depieclated value).
Deferred charges
Total...
2,884
2,723
130,666
4,116
for
2,104
stock
1935
$537
119
unpaid
dividend checks
Capital
Surplus
x
$204
84
*"84
210,000
210,000
9,001 defl3,568
3,163
$219,409 $197,0531
Represented by 100,000 shares
no
Total
$219,409 $197,053
par stock.—V. 141, p. 2895.
Financial
1238
Milwaukee Electric Railway &
Chronicle
Condensed Balance Sheet
Light Co.—Earnings—
^
expenses
„
Maintenance
2,222,603
2,048,226
Taxes, other than income taxes
3,315,602
3,253,458
$440,049
4,054,766
2,119
23,080
deposit--
Notes receivable..
.
639,397
364,541
$8,190,409
25,696
$7,310,444
25,283
$8,216,105
3,114,945
148,709
2,834,402
$7,335,727
3,137,539
150,241
90,661
0280,060
23,168
2,654,951
$2,102,109
Net operating revenues..
Non-operating revenues
—
Funds
102,482
75,240
income--
Interest
funded debt
on
Amortization of bond discount and expense
92,001
098,743
Other interest charges
Interest during construction
Other deductions--.:
22,680
:
Com.
Appropriations for depreciation reserve
Net income
500,000
350,000
118,735
454,476
stock
cap.
Earned surplus.
$6,604,774 $4,609,987
|
Total...
165,603
83,435
192,685
123,238
374,200
Capital surplus
Total..-
$2,808,000
64,731
208,477
_
7% cum. pref. stk.
(par $100)
x
Gross
yll2,347
dealers
Unearned income.
purch..
reqeiv.
-$4,363,300
Reserve for losses
7,820
18,973
on
comm.
'35
notes
withheld
from
trust notes
Prep'd
trust
payable
Accts. payable
Prep'd int. on coll.
$1,559,225
Provision for income taxes
Coll.
$446,959
6,000,391
4,783
Repossessed autos
Accts.
receivable
38,094
Cash on
June 30, '36 Dec. 31,
Liabilities—
June 30, '36 Dec. 31, '35
Assets—
1936
1935
$27,969,830 $26,380,775
13,601,817
13,404,104
12 Months Ended June 30—
Total operating revenues
Operating
Aug. 22, 1936
500,000
350,000
118,735
326,796
$6,604,774 $4,609,987
Represented by 5,000 shares class A stock, par $50, and 10,000 shares
class B stock, no par.
y Includes accrued taxes.—V. 142, p. 3516.
x
Corp.—Extra Dividend—
Motor Finance
have declared an extra dividend of 20 cents per share in
regular quarterly dividend of like amount on the common
The directors
—V. 142, p. 3683.
addition
Minneapolis Brewing Co.—Earnings—
a
stock, no par value, both payable Aug. 31 to holders of record Aug. 24.—
V. 136, p. 3358.
$43,919
$0.09
$0.30
Earnings per share on 500,000 shares
143, p. 117.
—V.
1935
1936
$147,629
6 Months Ended June 30—
Net income after all charges
to
Motor Products
Corp.—Extra Dividend—
The directors have declared
extra dividend of 50 cents per share in
an
.
addition to the regular quarterly dividend of like amount on the common
Mississippi River Power Co.—Earnings—
| Including Missouri
12 Months Ended June 30—
v
value, both payable Sept. 30 to holders of record Sept. 19.
A stock dividend of 100% was paid on Feb. 1, last.—V. 143, p. 595.
stock,
Transmission Co.J
1936
1935
(electric) incl. gross charges
Operating
revenues
under firm power
$3,799,990
198,951
245,829
contract
Purchased power
$3,629,324
263,588
•
Operating expenses
Taxes, other than income taxes
^
261,267
on
1936
$2,704,577
$2,826,744
963,197
17,747
260,000
967,401
65,246
Cr2,394
260,000
$1,658,179
Net oper. revenue
income.
$3,077,169
2,118,736
(before approp. for retire, res.) $1,160,167
248,234
$958,433
243,588
$1,408,401
300,000
4,202,021
296,266
$1,108,401
12,000
$905,755
—
retire.re^.)
$1,536,490
funded debt
122,166
39,626
Amortization of bond discount and expenseOther interest charges
Net oper. rev. & other income (before
Appropriation for retirement reserve
Gross
income.
Rent for lease of electric property
on funded debt—-
486,501
504,958
Amortization of debt discount and expense
Other interest (net)
2,850
396,052
5,247
367,604
Added to
Mock, Judson, Voehringer Co., Inc.—To Be
Monarch Machine Tool Co.—Extra
The directors have declared an extra
Dividend—
*
dividend of 15 cents per share in
a
Monongahela West Penn Public Service Co .-^-Listing—
has authorized the listing of $22,000,000
bonds, 4^% series, due 1960, and $7,500,000 6% debentures,
(see offering in V. 141, p. 3077).—V. 143, p. 763.
The New York Stock Exchange
1st mtge.
due 1965
$325,272
1935
$158 256
57 304
63,452
1934
$172,726
83,698
1933
$224,780
99,254
79,914
1,078,641
448,780
1,061,581
365,261
990,422
402,925
489.478
after rents
474,232
404,389
512,067
From Jan. 1—
Gross from railway
Net from railway
Y.
after rents.
Before
as
to year
—V. 143. p. 595.
ended June 30, 1935, provision for amortization of
143, p.
280.
stock,
no
par
share on the com¬
record Oct. 12.
dividend of 60 cents per share
value, payable Nov. 3 to holders of
This dividend comprises the regular quarterly
and a dividend of 30 cents for half a quarter.
Previously regular quarterly
had been distributed from Dec. 14, 1935
to and including June 15 last.
A dividend of 90 cents per share was paid-in
each of the first three quarters of 1935 and in the last quarter of 1934;
75 cents on Sept. 14, June 14 and March 14, 1934, and dividends of 50
cents per share were distributed each quarter from June 15, 1932 up to and
including Dec. 15, 1933.—V. 142, p. 304.
of 60
dividends
1936
6 Months Ended June 30—
Net income after Federal income, taxes, deprecia¬
tion and other charges
share
per
on
60,000 shs.
(no par)
cents per share
1935
$2
$50,817
$1.53
of
$91,730
$0.85
cum.
Note—No provision was made for Federal surtax on undistributed profits.
—V. 143, p. 434.
Muskegon Piston Ring Co.—Extra Dividend—
The directors have declared
an
extra
dividend of 25 cents per share in
addition
to a regular quarterly payment of like amount on the common
stock, both payable Sept. 30 to holders of record Aug. 24.
Similar dis¬
tributions were made on June 30 last.—V. 142, p. 4185.
National Acme
(John) Morell & Co.—Dividend Date Changed—
The directors have declared a dividend of 90 cents per
$323,058
Muskegon Motor Specialties Co.—Earnings—
116,544
1,244,966
497,980
1936
2,213
$430,437
convertible class A stock
$235 429
118 974
108 371
July—
98,370
«.
debt discount and expense, and as to year ended June 30, 1936, before pro¬
vision for amortization of discount and expense on first mortgage bonds.—
Earnings
Montour RR.—Earnings.—'Gross from railway
Net from railway
gold notes retired
Miscellaneous charges
on
Surplus, end of period
regular quarterly dividend of 25 cents per share on the common
stock, both payable Sept. 1. An extra of 5 cents per share was distributed
on March 1, last.—V. 142, p. 3515.
I
addition to
mon
323,058
—
Unamortized balance of debt discount and expense
200,000 shares of common stock,
$2.50 par, in substitution for 100,000 shares of common stock, no par,
presently outstanding and listed, upon notice of issuance.—V. 143, p. 928.
Net
4,991
$16,199
309,072
$528,808
Surplus, beginning of period
Total
The New York Curb Exchange will list
Net
$205,749
Net income *
—V. 142, p. 3683.
List—
12,000
Interest
Other income deductions...-
Net income
1935
'
$3,452,651
2,292,484
Other
$2,938,751
Interest
Co.—Earnings—
Operating revenues..
___•
Operating expenses, maintenance and all taxes
$2,816,029
122,721
Non-operating revenues.
Mountain States Power
12 Months Ended June 30—
25,689
229,613
195,546
249,543
—
Provision for income taxes
par
210.309
28,368
Maintenance
no
Co.—Earnings—
Period End. June 30—
Net profit after deprec.,
Federal taxes, &c
1936—6 Mos.—1935
1936—3 Mos.—1935
$168,113
$53,424
$0.33
$0.10
$308,129
$86,428
$0.61
$0.17
Earnings
per
share on
500,000 shares ($1 par)
capital stock
Note—No provision for Federal
been made.—V. 143, p. 763.
surtaxes
undistributed profits
\
on
National American Underwriting
has
Corp.—Registers with
SEC—
(Philip) Morris & Co., Ltd., Inc.—Time Extended—
17 that the time for exercising warrants
under the com¬
pany's offer to the stockholders expired Aug. 17, has been extended to
2 p. m. Eastern Standard Time Aug. 31, 1936.
This action has been taken
by the company as a result of the untimely death of its President, L. B.
McKitterick, and the consequent inability of his agents to carry out his
instructions to subscribe to the additional shares to which he was entitled
under the company's offer as a substantial stockholder.
Of a total of
103,688 shares, 91,523 had been subscribed for, the balance being largely
represented by the stock to which Mr. McKitterick was entitled.
The company announced on Aug.
additional shares of common stock, which
to subscribe to
President and Alfred E. Lyon First ViceLtd., Inc., at a meeting of the directors
who for several years had
Leonard B. McKitterick,
929.
Otway H. Chalkley was elected
President of Philip Morris & Go.,
of the company held on Aug. 18.
Mr. Chalkley,
been First Vice-President, was elected to succeed
recently—V. 143, p.
National Automotive Fibres, Inc.—Earnings—
Period End. June 30—
Net profit after deprec.,
amort.,
Morris Finance Co.—Dividends Increased—
The directors have declared a dividend of $2.50 per share on
stock and
a
dividend of 50 cents per share on the class
the class A
B common
stock, both payable Sept. 30 to holders of record Sept. 19.
Previously, quarterly dividends of $1.50 per share were paid on the class A
stock and quarterly dividends of 30 cents per share were distributed on the
class B stock. In addition an extra dividend of 50 cents on the class A and
an extra of 10 cents on the class B
were paid on June 30, last, and on
Dec. 31,
1935.
Earnings for the 6 Months Ended June 30, 1936
$442,351
Gross income from operations
172,414
Operating expenses
from
operations
Other income credits (incl. $2,777 proceeds from sales of securi¬
ties not carried as an asset)
Net income
$269,937
National
The
prof i ts)
-
2 183
on
67,500
for the six months-.-.
Earned surplus, Jan. 1, 1936
$127,679
326,796
Net surplus
June 30, 1936.
Mines
$569,875
$513,430
Corp.—Withdrawal
arid
registration
or
$454,475
statement
were
misleading^" the report of the Commission said, "these purchasers
entitled to know it.
Knowledge even at this date might afford them
protection otherwise lacking.
Aside from fraud and rescission rights,
which might be grounded on such misrepresentations, there is the further
fact that some of the notes
given by these buyers in payment of the securities
have not yet been paid.
"Knowledge by the makers of any fraudulent misrepresentations of
material facts made to them in the sale of these securities
might afford
them protection against
completing payments on the notes.
And those
who have already invested
might be less willing to do so again if they
learn that the original
representations made in the effective registration
statement were
false in material respects.
In these proceedings the
truth or falsity of these facts will be
ascertained, as it is the duty of this
Commission under Section 8(d) of the Act to ascertain the falsity or inac¬
curacy of the statements on the basis of which securities have been sold
under the Act, where it has reason to believe such
falsity exists.
It is
the further duty of the Commission t6 enter a
fact found to be false
taxes
Earns, per sh. on 192,815
shs. common stock
mention
—V.
142,
p.
or
stop order if the
misleading."—V. 142, p. 4185.
statement
Candy Co. (& Subs.)- -Earnings—
6 Mos. End. June 30—
Net profit after charges,
deprec. and Fed.
undis¬
Cash dividends paid on common capital stock..
income
Cash dividends paid on preferred capital stock.
Earned surplus,
Montana
$249,550
bat purchasers of the securities are now entitled to have the facts.
If the facts contained in the effective
false
is m
$169,679
17,500
24,500
Net
$361,961
Boston
Securities
National
collateral trust notes, &c
Commissions and fees on collateral trust notes
'
Provision for Federal income taxes (incl. the surtax
on
tributed
1936—6 Mos.—1935
-
Exchange Commission refused recently to permit
the corporation to withdraw its
registration statement under the Securities
Act, charging that the prospectus was inaccurate and misleading and
2,838
$272,776
33,413
Gross income
Interest
1936—3 Mos.—1935
income
__taxes and other charges
are
common
Fed.
of Registration Denied by SEC—
New President—
who died
See list given on first page of this department.
3352.
was
1936
1935
$137,492 loss$152,225
$0.36
Nil
1934
1933
$216,698
$316,023
$0.77
$1.28
made of Federal surtaxes on undistributed profits.
i
National Gypsum Co .—To Increase Stock—
Class A and B
common stockholders will vote Aug. 31 on increasing the
common stock from 235,000 shares to 500,000 shares.
Of the in¬
creased shares it is proposed that 13,000 be issued immediately in part pay-*
ment for the assets of the Atlantic Gypsum Products Co.—Y. 143, p. 929.
class A
Volume 143
Financial
Chronicle
1239
National Malleable & Steel
Castings Co.—Earnings—•
Period, Ended June 30, 1936—
Net inc. after deprec. & estimated
Fed. taxes
Earns, per sh. on 472,461 shs. common
stk. outstdg
—V. 142, p. 3352.
1936
Net income after normal Fed. inc. taxes
Shares common stock outstand.
Earnings
per
$4)
for
Federal
in
146,120
$0.90
undistributed
on
the contest
571,355
55,206
34,790
2,536,849
307,270
32,760
28,577
2,574,061
■
■
Associated Gas & Electric units, and General
Realty & Securities suggest
that $10,000,000 of
new'5% income debentures of a new corporation be
issued in exchange for the 712,411
Jersey Central common shares collateral
for the defaulted National Public
Service debentures.
The petitioners contend that since the
National Public
tures
defaulted securities
would be receiving $14 a share for their
collateral stock.
According to the plan, the new debentures would be issued in exchange
for the outstanding debentures or
certificates of deposit at the rate of $50
for new debentures for each
$100 of those
outstanding, and each holder of
right to convert each $50 principal
amount within three months into
33^ shares of Jersey Central common
stock.
Provision is made in the plan so that the new
corporation would
have a majority of the total number of
shares of Jersey Central common
outstanding.
Associated interests own the remaining 341,350 shares of
Jersey Central common, ana propose to transfer these to the new
corporation
in exchange for all of the common stock
of the new corporation.
the
debentures
new
would
have
the
Associated Gas & Electric would surrender to the new firm
$3,000,000
of the new debenture
to be received
by them under the plan of reorganiza¬
tion proposed for additional common
stock of the new company, the plan
provides and thus the total amount of new debentures which
would be
would be reduced to
issued
$7,000,000.
For each $100 principal amount of these
$7,000,000 debentures of the new firm, the new
corporation would own
15 shares of Jersey Central common
stock, as against 3 Yi shares pledged
for each $100 principal amount
pledged as collateral for the presently out¬
standing National Public Service debentures.
Upon consummation of such a plan, according to the
petition and its
attached plan, the new
company would have no indebtedness other than
the $7,000,000 of new debentures.
[New York Trust Co., trustee for National Public Service
Corp., securing
the defaulted
debentures, advertised on July 30 that the Jersey Central
common stock collateral would be
sold in one block at auction on
Sept. 10,
and that no bid would be
accepted less than $5,000,000.
Public Service
Corp. of New Jersey last Spring advised the protective committee for these
defaulted securities that it would be
willing to purchase from them the stock
held as collateral for
$5,000,000.]—V. 143, p. 763.
New
common
York
stock,
Curb
no
Exchange will list
15,080
additional
of
par, upon notice of issuance.
New
National Tile
1936
charges.
1935
Operating revenues
Operating expenses
charges
Dividends....
Real
1936
1935
$53,706
Insurance
Co.—Balance
Sheet
&
Cash
1
1936
$
,147,577
Liabilities—
815,957
1,258,412
9,947,287
940,880
865,340
786,914
Res.
1 ,187,434
1,188,490
138,004
342,072
Res.
stocks. .11 ,009,908
i.
1st mtge. loans...
Prem. in course of
S
Reserve for losses.
Res.
for
1935
$
1,029,502
987,575
premium
6,318,784
for taxes
264,103
6,508,234
256,345
Res. for real estate
collec'n not over
and
90 days due
Accrued interest..
124,681
341,685
Other ledger assets
mortgages.
for oth. liab.
Special reserve
Capital.
Surplus..
132,573
505,720
900,000
1,100,000
605,963
$3.08
Note—No provision
143, p. 1085.
15,492,583 14,602,060
15,492,583
Total
14,602,060
143, p. 763.
Nehi
Corp. (& Subs.)—Earnings—
1936
1935
$991,233
327,424
Cost of sales..
expenses
Cash discounts allowed
Allowance for possible losses on current uncollect¬
ible acceptances and accounts receivable
Provision for Federal and State income taxes
Net income for the
period
—
Preferred dividends
$576,092
198,910
$663,809 "
418,173
CY7.128
22,067
$377,181
235,069
Cr7,775
14,995
•
_
9,700
42,500
at
$178,496
86,625
financing
directors
general
1935
1934
$7,853,242
$7,669,075
>,134,987
8,432,126
7,589,089
7,401,975
5,992,571
Total income
Interest
Deprec. & amortization.
Reserve for Fed. taxes..
Net profit
Preferred dividends..
Common dividends.
_—
Surplus
com.
stk.
outst'g..
Earnings per share
x
50
a
cents per
5% stock
Electric Corp .—Merger
See New York State Electric &
New York Edison
Gas
Corp.—V. 143,
Approved—
931.
p.
Co., Inc.—Definitive Bonds Ready—
The City Bank Farmers Trust Co.
announced that
beginning Aug. 24,
1936,' it will be prepared to deliver 1st lien and
refunding mortgage bonds,
series "D" 3M% series of
1935, due 1965, in definitive form against the
surrender of and cancellation of
temporary bonds of this issue.—V. 143,
p. 764.
New York & Honduras Rosario
Period End. June 30—
Net profit after charges
$158,913
shs.cap.stk.(par $10)-
York
Revenue
$0.84
Haven
July
announced Aug.
were
increase of only
1936—6 Mos.—1935
$190,5441
$341,443
&
Hartford
$411,188
$1.81
$1.01
for July Increases 15%—
The trustees
an
New
Mining Co.—Earnings
1936—3 Mos.—1935
Earns, persh. on 188,367
52.18
RR.—Passenger
20 that gross passenger
revenues
for the
15% greater than in July, 1935.
This compares with
% in June, 1936 over June, 1935.
The above percentage increase in
gross passenger revenues does
allow for added expense incident to
handling the added traffic.
Part of the increase was due
according to the announcement to
not
the
July Fourth holiday, normally a heavy traffic period for the New Haven
on
Thursday in 1935, but in 1936 fell on Saturday extending the
which fell
The trustees
•
stated
that
including all classes of riding the number of
13.4%, and the passengers
compared with July a year ago.
Excluding communtation and similar low fare travel in
July, the number
of passengers carried increased
78%, with an increase in passengers carried
passengers carried in July,
1936 increased
carried one mile increased 30%—both
mile of
57.6%.
For the first
ares—the
New
'
months of 1936—prior to the introduction
of the low
Havens passenger revenue
percentage increase was
lve
10%
the previous year.
,
Equipment Issue—
The trustees have asked Interstate Commerce
Commission for authority
$3,075,000 of 3% equipment trust certificates.
Proceeds from the
issue would be used to finance acquisition of 10 steam
passenger locomotives,
50 lightweight steel passenger coaches and 10
Diesel-eiectric switching
locomotives.
The equipment would be built
by the New England
143, p. 931.,
,
6 Mos. End. June 30—
Net income after Federal
x
Car
'
New York Be Richmond Gas
charges.___
1936
1935
x$68,408
Exclusive of Federal surtaxes
Co.—Earnings—
on
$73,021
1934
$113,015
1933
$181,218
undistributed profits.—Y. 143, p. 1186.
New York State Electric & Gas
Corp.—Merger Approved
of the Empire Gas & Electric Co., Elmira
Light, Heat &
Corp. and New York Central Electric Corp. with the New York
State Electric & Gas Corp. has been approved
by the Federal Power Com¬
mission. The companies are subsidiaries of the NYPANJ
Utilities
merger
Power
member
of the Associated Gas &
announcing the
Chairman,
Electric
Co.,
a
System.
Commissions
approval of the merger, Frank R.
this is the first situation under the
Federal
Power Act to which the Commission deems
applicable the spirit and pur¬
pose of the Act to prevent utility company officials
profiting from stock
dealings and manipulations in connection with mergers and consolidations
of
$264,153
166,632
$267,100
151,064
$142,416
125,069
$644,901
108,762
135,612
$430,785
88,973
119.223
$418,164
88,192
116,059
$267,485
said
properties.
order defining the Commission s
policy in such matters specifies
no event shall NYPANJ Utilities
Co. receive from the
surviving
operating company as reimbursement for the purchase of
any share of the
preferred stock, a sum greater than the cost thereof to the said
The
z80,000
37~666
40,600
113,592
7,000
$320,527
76,377
128,011
$185,588
76,027
y203,777
$173,913
77,269
$29,651
x38,634
$116,140
204,933
def$94,217
203,933
$96,644
206,235
Utilities Co.
$1.19
117~24i
def$8,983
206,234
$0.53
"
$0.47
Nil
Three months dividends only. 1 y Includes 50 cents
extra dividend in
z Before provision for surtax on
undistributed
March,
Corp.—Larger Dividend—
declared
$10, payable Sept. 15
that "in
Miscell. deductions
Shs.
1933
$476,691
168,210
Other income
have
par
New York Central
McNinch,
1936
selling and
expenses
sufficient capital for the
mortgage debentures called for redemption
964.
payment was made in January 1928, 1929 and 1930.—V.
142, p. 3353.
The
Brothers, Inc. (& Subs.)—Earnings-
Gross income
p.
dividend of 75 cents per share on the
to holders of record Aug. 31.
share distributed in each of the three preceding_ quarters and on Aug. 15, and April 30, 1935 and Oct. 31 and April 30,
1934.
From July 15, 1927 to and
including Apirl 15, 1931 the company
paid quarterly cash dividends of $1 per share, and in addition
a
stock,
This compares with
$100,772
$8,908,817
Cost of sales,
undistributed profits.
on
was carried out in order to raise
Newmont Mining
The
common
In
6 Mos. End. June 30—
$2.57
new
July 1, last—V. 142,
taxes and
Note—No provision has been made for the Federal
surtax on undistributed
income which may be payable under the
Revenue Act of 1936, since
any liability for such tax cannot be determined until the
end of the year.
^-V. 143, p. 595.
Sales
$3.08
99H and int. by Royal Securities Corp.
This
10,119
24,000
net
Neisner
made for Federal surtax
was
retirement of $447,000 of
7%
Co.—V.
Gross prof it...
Selling and administrative
Discount on purchases, &c
$2.79
to issue
,
§ Months Ended June 30—
Net sales.
$107,153 def$566,999
Light
&
Power
Co.,
Ltd.—Bonds
issue of $450,000 5%
20-year sinking fund
gen. mtge. bonds was offered
recently in Canadian markets
one
5,011,370
$9,030,031
3,433,375
4,000,374
Newfoundland
Offered—A
i,iob"66o
5,374,474
1933
$9,590,372
4,107,527
4,000,374
$104,140 def$281,526
—V.
over
Total
—Y.
$9,226,469
3,718,847
4,000,374
4,000,374
holiday period.
unearned
1934
For quarter ended June
30, last, indicated net income was
$2,352,896,
a sh. against
$1,751,618 or $1.31 a share in preceding
quarter
and $2,021,420 or $1.52 a
share in June quarter, 1935.
$67,125
1935
$
estate
Bonds
$10,082,245
4,104,514
$100)
New
June 30—
1936
1935
equal to $1.77
month of
Assets—
1936
—V. 143, p. 437.
140, p. 4074.
Fire
9,582,626
Bal. after dividends..
Earns, per sh. on
1,333,458 shs. cap. stk. (par
Co.—Earnings—
Union
9,582,626
150,141
801,957
$35,009,244 $33,401,597 $33,210,480 $32,433,328
24,926,999
24,175,128
23,620,107
23,403,297
Net oper. revenue
Net income after
$31,167 prof$26,536
6 Months Ended June 30—
Net loss after taxes,
depreciation, &c
National
10.222,298
Common stock
England Telephone & Telegraph
Co.—Earnings—
& Federal taxes
6 Months Ended June 30—
Net loss after deprec., taxes, int. & other
—V. 143, p. 930.
—V.
shares
Total
c
120,462
•
6 Mos. End. June 30—
National Rubber Machinery Co.—To Be Added to List—
The
3,096,546
convert,
and amortization of $1,846,428 in 1936
($1,620,091
Represented by 204,933 shares of no par value in 1936
(203,933
1935).—V. 143, p. 930.
in
Service deben¬
are
currently priced at approximately $35, and with the Jersey Central
stock, which is collateral for thase debentures, secured in a ratio of about
3M for each $100 of debentures, that by
exchanging $10,000,000 of new
debentures of a new corporation the holders of
the
3,745,634
cum.
preferred stock
Reserve
c
auction of the
Jersey Central stock scheduled for Sept. 10 and would auto¬
matically prevent Public Service Corp. of New Jersey from
making effective
its bid of $5,000,000 for this stock.
General Utility Investors
Corp. and Associated Investing Corp., the
191,740
2,182,200
7%
k After depreciation
,
rehabilitating the debtor corporation, which, if accepted, would cancel the
187,186
2,182,200
130,187
808,957
Surplus
116,907
10,222,298
in 1935).
when two subsidiaries of Associated Gas &
Electric Co. and General Realty
& Securities Corp. filed a
petition in Federal Court of the Southern District
of New York for
reorganization of National Public Service Corp. under
Section 77-B of the
Bankruptcy Act.
The three petitioning
companies attached to their brief a proposal for
$
61,781
3,018,250
80,011
__
State income tax
items
Total
of the controlling 712,411
shares of Jersey Central Power1 &
Light Co. common stock, securing $20,000,000 of National Public Service Corp.
5% deebntures, took place Aug. 20,
possession
1935
$
121,001
3,009,750
Accr'd taxes, &c__
37,383
Prov. for Fed. and
Prepaid lns.&other
Corp.—Reorganization—
for
1936
Accounts payable.
Funded debt..
June
Inventory
profits.
prepaid
National Public Service
Further action
surtaxes
appl'd aft.
30
1
Acc'ts receivable
Life ins. cash value
30
Liabilities—
5,136,124
1,310,968
72,405
Prepaid rents to be
$131,074
June
$
5,356,743
1,469,950
80,498
Cash
1935
x$239,072
169,128
$1.41
share
x Before
deductions
—V. 143, p. 929.
bFurn. & fixtures
Sheet
1935
$
Assets—
$657,393
$1.39
(& Subs.)—Earnings—
fonths Ended June 30—
(par
Balance
1936
6 Months
$471,388
$1.00
Prepaid rents
National Oil Products
Co., Inc.
6]
3 Months
profits.
NYPANJ
According to the Commission, "it was established in the
record that,
except for publicly owned preferred stock of a total par value of
$940,100,
the entire outstanding capital stock of
Empire Gas & Electric Co. is owned
by New York Central Electric Corp., and that, except for
publicly owned
preferred stock of a total par value of $1,111,300 of New York
Central
Electric, the entire outstanding capital stock of New York
Central Electric,
Elmira Light and New York State Electric is owned
by NYPANJ Utilities
Co.
"Under
the
terms of the
application, holders of the publicly owned
preferred stock will, upon liquidation, receive par plus accrued
dividends
for their shares, which, computed as of June
30, 1936, amounts to a little
over
$2,350,000.
"NYPANJ Utilities Co. is to be reimbursed
by New York State Electrifor the actual cost or out-of-pocket
expense incurred in the acquisition of the
publicly held preferred stock."
Financial
1240
Commission!as proposed and
by the
considerations made known
The
corporations
follows:
New York Central
and equal
resulting from the
June 30, 1935, and the
lia¬
agreed upon for the properties of the vendor
are as
Empire Gas, $6,877,273; Elmira Light, $2,335,350;
Electric, $6,162,641; with an adjustment in each case based upon
to any change in the assets and liabilities arising out of or
carrying on of business in ordinary course between
date of closing, with the assumption in each instance of all debts and
bilities of the vendor corporation by New York State Electric.
Continuing, the Commission said:
"The properties of the applicants are contiguous, already
by transmission lines, and are now under identical
The merger will result in a consolidation of facilities that will create a
integrated system, with the elimination of three unnecessary corporate
well-connected
general management.
well-
entities and
organizations.
„
,,
would furnish ground for refusing the
the Commission."—V. 143, p. 931.
"No objections or protests that
authorizations sought were filed with
Westchester & Boston Ry.—Plan—
Carroll C. Hincks, of the U. S. District Court at New
Haven, has given C. L. Bardo, trustee, until Sept. 3 to file a plan of reorgan¬
ization.
Under a previous court order, the plan was to have been filed
Aug. 3.
Recently, Winthrop N. Daniels, trustee of the New Haven,
argued before Judge Hincks that the electric line should be abandoned as
to operation and the property liquidated.—V. 143, p. 596.
New York
Federal Judge
Niagara Falls Power
Co.—Listing—
has authorized the listing of
Stock Exchange
The New York
1st & ref. mtge. bonds, 3H % series of
in V. 142, p. 4349).—V. 143. p. 765.
Niagara Fire Insurance
Bonds &
$
$
stocks.22,941,488 19,335,866
Interest
80,492
795,950
1,011,839
office
for
309,600
expenses
for
2,000,000 2,000,000
16,231,346 12,392,311
capital
25,035,796 21,381,623
Total
25,035,796 21,381,623
Total
$243,068
$2.28
$1.62
150,000 shs. capital stock
(no par).
-Y. 142, p. 3356.
—
-
Noranda Mines,.
1935
1936
$342,194
30—
Fed. inc. taxes, &c
Earnings per share on
$8,520,058
production,
incl. mining, customs
ore treatment and de¬
livery, and admin. and
general expenses
1933
1934
1935
1936
produced. 32,104,990
Total recovery
39,833.528
$6,659,335
30,368,659
$7,070,808
30,712,154
$5,365,306
30—
1936
1935
,
1934
Net income after interest and taxes
but excl. of security transactions—
x$132,859
$131,060
$127,797
x No provision has been made for Federal surtax on undistributed profits.
donths Ended June
631.
—V. 142, p.
Central Texas Oil Co., Inc. (& Subs.)—Earnings
1936—6 Mos.—1935
End. June 30—• 1936—3 Mos.—-1935
North
Period
Fed.
deprec.,
3,525,783
3,109,566
340,000
511,500
3,174,640
243,900
$4,337,882
147,563
$2,793,553
177,463
$3,449,742
268,587
$1,946,766
158,036
Estimatedprofit before
providing for deprec.
and contingencies__ $4,485,445
$2,971,015
$3,718,330
282,000
420,000
$2,104,803
513,672
3,307,176
.
Estimated res .for deprec.
Before
535,201
to Noranda.
incorporated under the name of Hallnor Mines,
Limited, with a capitalization of 2,000,000 shares which has acquired the
property known as the Poulet-Veteran claim in the Township of Whitney.
Noranda owns a controlling interest in the company and is financing
development by taking down treasury shares.
The present work includes
completion of installation of a mining plant and the programm of develop¬
ment calls for sinking a shaft to a depth of 600 ft. and subsequently conduct¬
ing lateral exploration.
This work will call for an expenditure of several
hundred thousand dollars and it will be some time well on in 1937 before a
definite opinion can be formed as to the economic merits of this property.
has been
—V. 142,3685.
share
Federal surtax
>dos. End. June 30—
New York
of Northern New
operating utilities
prec., deplet. int.,
—V. 142. p. 2838.
Public Service Commission last December
York Utilities, Inc., and nine other northern
have been withdrawn, it has been
1933
de¬
&c.
$335 420
North West Utilities
$292,225
$843,026
$463,632
McCarter said
Mr.
Antwerp Light
Light, Heat & Power
p. 766.
Corp
Bros. &
Co.
Valley Power Corp., Norwood Electric Light
& Power Co., Peoples Gas & Electric Corp., Fulton
Co., St. Lawrence
& Power
on
Co. and Fulton Power Corp.
Pacific Ry.—Equip. Trusts
Hutzler, R. W. Pressprich & Co.,
Aug. 21 offered a new issue of
_
of the common
stock]
1936—6 Mos—1935
,432,575
2,022,186
185,894
37,154
352,656
737,905
a875,658
$1,107,285
Gross income
$1,113,917
572,525
operating incomeOther income (net)
6,631
$5,865,629
1,847,720
177,528
32,056
■
413,201
653,539
888,781
$881,539
7,463
!,221,119
21,192
$1,852,800
14,338
$889,003
611,972
10,372
$1,867,139
1,225,530
20,622
maturity.
to be guaranteed unconditionally as to principal and
Northern Pacific Ry., and are to be secured by the follow¬
The certificates are
steel-frame' livestock cars; 250 50-ton50-ton-capacity all-steel gondola cars
four-cylinder simple 4-6-6-4 articulated steam locomotives.
The
estimated cost of this equipment is $4,319,792, of which the company is to
contribute $1,319,792 as advance rental, or 30% of the total cost of the
equipment.
The issuance and sale of these certificates are subject to authorization by
the Interstate Commerce Commission.—V. 143, p. 1086.
12
Per Period
Co. (Del.) (& Subs.)—Earns.
1936—12 Mos.—1935
i_.$17,301,341 $16,406,170 $33,802,361 $32,372,679
States Power
End. June 30—
Operating revenues. _
expenses, mainte¬
and all taxes...
Net
oper.
rev.
approp.
ment
for
1936—6 Mos.—1935
before
retire¬
Funded debt interest
General interest
Int.
charged construction
Cr381
74,506
49,848
126.056
2,126
2,126
4,252
8,990
Crl ,646
CV420
$7,438,471
52,084
reserve)
Other income
$7,262,801 $14,638,095 $13,989,897
49,076
104.334
98,832
$7,490,556
$7,311,877 $14,742,429
& other
inc. (before approp.
for retire, reserve)_.
Net oper. rev.
,
Approp. for retire, res.
1,370,000
_
$6;120,556
Gross income
Interest charges
9,965,786
(net)
Amortiz. of debt disct.
&
130,148
expense
Other inc. deductions.
26,200
Minority int. in net inc.
count and expense
$5,941,877 $11,842,4',9 $11,188,730
5.866,149
2.973,696
5,927,823
Balance
$457,415
$215,064
$924,919
$517,417
269,204
187,448
538,408
374,903
bl39,528
221,284
279,090
442,577
Divs. accrd. at rates cur¬
paid on pref.
by
public
Divs. suspended on pref.
stocks of subs, held by
the public
rently
stocks of subs, held
the
$48,682 loss$193,668
$107,420 loss$300,063
has been made for Federal surtax on undistributed profits,
has been made on the books of the North West Utilities
Co. for the deductions made in this statement for suspended preferred
dividends of subsidiaries.
c Before cumulative unpaid dividends on North West Utilities
Co. prior
lien and preferred stocks.
V. 142, p. 4030.
,
H
c
Balance.
a
No provision
b No provision
246,249
55,439
30,493
74,671
44,555
$5,529,839
$4,976,337
5,520 437
5,751,731
5,890,701
of
5,773,461
$8,729,295
2,534,424
$8,304,051 <»11.281,570 $10,867,039
5,068,848
2,534,424
5,068,848
(net)206,233
17,896
224,083
46,459
$5,988,638
$5,751,731
$5,988,638
$5,751,731
Surplus, end of period
282.
—V. 143, p.
12 Months Ended June
30—
Operating revenues
Operating expenses, maintenance
Net oper. rev.
1936
1935
...$29,399,685 $28.341,021
and all taxes— 17,571,740 16,850,061
— -
(before approp. for retire,
Other income..
Net
operating revenue
fore
(& Subs.)—Earns.
Co. (Min.)
res.)..$11,827,945 $11,490,959
1,115,657
1,065,183
and other income (bo-
appropriation for retirement
$12,943,602 $12,556,142
2,435,926
2,451.335
reserve)
$10,507,676 $10,104,807
Gross income
5,076,618
'
and expense.
Other income ueductions
—
Net income
4,998,797
$5,161,995
(net)
Amortization of debt discount
$4,847,951
229,062
40,000
216,164
41,894
p.3518.
99,737
4,252
259,722
50,372
128,841
25,231
$2,783,614
Northampton Street Ry.
Amortization of pref.stk.
commissions & expense
.
$14,088,730
2,900,000
$2,955,834
Net income
Surplus,
beginning
period...
rect items
2i900,000
1,370,000
42,586
of subsidiary.
-V. 142,
Amortization of debt,dis¬
18,382,781
19,164,266
9,1^,368
9,862.870
nance
Interest charges
52,242,312
1,171,629
17,756
Cr2,301
Offered—Salomon
and Estabrook{&
$3,000,000 2\i%
certificates, due $300,000 on each
July 1, 1937 to July 1, 1946, inclusive. &The
certificates, which are to be issued under the Philadelphia
plan, are priced to yield from .50% to 2.30%, according to
Appropriation for retirement reserve
Net
of Fulton.—V.^143,
equipment trust
serial
Northern States Power
Co.—Earnings-
[Including companies in which it holds a majority
1936—3 Mos.—1935
Period End. June 30$3,185,881
$2,890,967
Total oper. revenues
909,526
995,986
Operation.
j.
92,466
77,336
Power purchased
13,260
12,088
Gas purchased222,691
168,948
Maintenance
—
328,057
384,951
Prov. for retirement
443,424
a439,284
Taxes
-----
disclosed
M. McCarter Jr., V.-Pres. of Northern New York Utilities.
inability of the company and the Commission to agree
on certain phases of the proposed consolidation was the reason for the
withdrawal.
The points of disagreement were not made known.
The companies whic,h have withdrawn merger applications
include
Old Forge Electric Co. and the following operating units of the Niagara
Hudson Power System; Northern New York Utilities, Inc., Malone Light
by Thomas
Miscellaneous surplus di¬
1934
1935
With¬
applications filed with the
fo.r the merger
Pref. divs.—cash
Corp.—Earnings—
1936
■»««i
York Utilities, Inc.—Merger Plan
Total
Net loss after taxes,
254,373
250,000
254,373
$0.09
$0.06
$0.05
on undistributed profits.—V. 142, p. 4186.
drawn—
Oper.
$2,551,015 $3,183,129 $1,591,131
$1.14
$1.42
$0.71
letter to shareholders, states:
Capital expenditures this year at the Home Mine include provision
of head frame, hoist, hoist house, skips, &c., for No. 5 shaft, additional
underground crushing equipment, additional
concentrator equipment
and one additional roaster in the Smelter, all at an estimated cost of
approximately $600,000.
These are designed for greater operating effi¬
ciency rather than increased production.
In addition about $50,000 is
being expended in providing additional housing for employees and also the
office building is being enlarged at a cost of $50,000 to provide additional
space and for the purchasing department which will be moved from Toronto
North American Cement
$23,633
250,000
$0.11
,
(par
Earnings per
x
x$27,895
$12,118
x$14,997
stock
$5) outstanding-
Northern
Estimated net profit- $4,203,445
Estd. net profit per share
$1.87
James Y. Murdoch, President, in a
company
\
income
taxes, &c
Shares
common
and
875,000
Balance..
deple.,
profit after
Net
ing equipment: 250 40-ton-capacity
capacity steel-frame flat cars; 500
Reserved for taxes
Miscellaneous income—
Utility Securities Corp.—Earnings—
North American
6
dividends by the
Cost of metal
12
were
on April 20,
20, and April 20,
Preferred dividend payments
142, p. 4186.
one-half these amounts were paid on Oct.
Oct. 20 and April 20, 1934.
discontinued after April 20,1931.—rV.
$2 per share
July 1, from
Ltd.—Earnings-
6 Mos. End. June 30—
new
dividends at
1935, and on
Northern
Inc.—Earnings—
6 Months Ended June
Net inc. after deprec.,
A
and$l
last-
"
Noblitt-Sparks Industries,
Lbs. of anode
200,000
400,000
other
Net surplus
—V. 142, p. 631.
290,400
260,000
400,000
all
claims
Cash
514,153
taxes
Reserve for divs..
Res.
5,584,758
of
adjustment
Reserve
and
Cash on deposit &
in
5,447,143
447,707
Losses in process
1,169,315
1,021,225
accrued..
61,243
collection
5
holders of record Sept. 30. Distributions of
83 1-3 per share respectively, were made on these issues
Joint
$
$
LiaHlWes—
Unearned prems..
Corp.—Accumulated Divs.
able Oct. 20 to
1935
1936
in course of
Prems
North American Investment
The directors have declared a dividend of $3 per share on the 67 cum.
preferred stock, par $100, and a dividend of $2.75 per share on the
cum preferred stock, par $100, both on account of accumulations and pay¬
Northern New
Balance Sheet June 30—
Co.
1935
1936
Assets—
x
$32,493,000
1936, due March 1, 1966 (see offering
1936
22.
Aug.
Chronicle
Period End. June 30—
Co.—Earnings-—
1936—3 Mos.—1935
1936—6Mos.—1935
$2,847
$1,756
$7,393
$6,807
During the June quarter 250,887 revenue passengers were carried at an
average fare of 9.7 cents, against 206,975 passengers carried a year ago at
an average fare of 10.1 cents.
For the half year 327,238 revenue passengers
were carried at an average fare of 9.7 cents, against 466,785 passengers
carried a year ago at an average fare of 10.1 cents.—V. 141, p. 3235.
Net profit
Northwestern
Period End.
Bell Telephone Co.
July 31—
Operating
revenues. ...
Uncollectible oper. rev.
Operating expenses
Operating taxes
Net operating
income.
-V. 143, p. 597.
1936—Month—1935
$2,779,033
$2,578,236
6,469
9,013
1,907,327
1,851,479
303,650
250.782
$561,587
L$466,962
Earnings—*
1936—7 Mos—1935
$18,621,004 $17,390,040
57,624
67,866
12,643,680
2,071,666
12,498,026
1,700,394
$3,848,034
$3,123,754
Volume
143
Financial
Chronicle
$121,000
PERE
Ctfrrently telling
MARQUETTE RAILWAY
CO.
2y2%
Equipment Trust Certificates
$19,000
57,000
45,000
July 1938
July 1940
July 1941
to
net
to
net
to
net
Additional information on request
1.25%
1.90%
2.10%
LANCASTER & N0RV1N GREENE INC.
30 BROAD
A. T. & T. Teletype
NY-1-1786
Members
New York Stock
Exchange
Philadelphia Stock Exchange
New York Curb
Exchange
(Associate)
New York, Bowling Green 9-2230
T. Teletype—Phlla. 22
A. T. &
1528
WALNUT ST.
PHILADELPHIA
Apartments
The
to the Court with the
foreclosure papers.
The committee was formed
at the request
Co.—Earnings—
Sales.
c
$1,952,362
Net profit after all
charges and preferred dividends but before
Feueral taxes
j.
91,976
Earns, per share on 48,657
common shares
$1.89
—V. 142, p. 3008.
Operating income
Total
income
Dec. 31 '35
$9,100,648
3.946,882
4,070,373
x2,194,870
$8,691,326
3,804,798
3,840,767
1,974,231
Net income
No provision
V. 142, p. 4350.
x
is
made for
Federal surtax
Oklahoma Gas & Electric
12 Months Ended June 30—
Operating
Operating
Net
on
1935
$11,824,452 $11,067,501
6,136,000
5,896,774
(before approp. for retire,
res've)
...
$5,688,452
2,756
Net operating revenue and other
income (before
appropriation for retirement
reserve)
$5,691,208
Appropriation for retirement
control "committee" created under the
plan will be increased from two to
three and the representative 01
the general mortgage bondholders
is elimi¬
nated.
All current real estate taxes on
the mortgaged property have been
paid.
contribution of the sum of
approximately $300,000 is
The
conditioned
the adoption of the plan of
reorganization as submitted, with the
modification stated above.
The plan has been submitted for
judicial consideration to the Court and
all of its features will be
subject to full
upon
examination and review in
open
and to careful consideration
by the Court.
It is improbable that the case will
be set for hearing before
Sept. 15, at
which time it is expected that a
motion will be made for an order
appointing
a
depositary to receive loan certificates asesnting to the
plan.
The members of the
committee are: Miles S.
Altemose, Chairman;
Herbert O. Frey,
Philadelphia; Carroll Dunham, 3d, New York, and
Sydney M. Williams, Boston, with II. W. Latimer,
Sec., 153 So. Broad St.,
Philadelphia, and Morgan Lewis & Bockius,
Philadelphia,
court
1936
expenses, maintenance and all taxes
Other income.-
undistributed profits.—
Co.-—Earnings—
revenues
oper. rev.
i
June 30 '36
after taxes and
depreciation.-..
$5,170,726
2,349
142,
1,025,000
$5,173,076
1,025,000
$4,666,208
2,224,373
$2,213,130
$1,693,389
Trustees for
Old
Colony
•
ruptcy Act.
"No microscope is
required to depict the instances in
which the interests
of the New Haven, and thus
of its trustees, clash with
the interests of the
Old Colony," the brief
stated.
"The present situation is
that the trustees
of the New Haven are
enjoying the benefits of the use of the
the Old Colony and are
property of
paying nothing except the rent of the
Old Colony's
valuable leased lines, and
without commitment to
•
continue the payment
of such rent."
ICC
on
Aug. 14 approved the revised form of
deposit agreement
RR., common stock in connection
for shareholders of the Old
Colony
the Old Colony's protective
expenses
Rent from lease of oper¬
ating property
Operating taxes
with
committee's activity in
reorganization of the
York
New Haven & Hartford
RR.
The Mutual Savings Bank
group committee on New Haven
bonds was
granted authority to intervene in the New
Haven reorganization.
The action of the Commission in
approving revision of the deposit
of the
Old
Colony shareholders
was
application of
William Dexter
George Peabody Gardner Jr., E. Sheldon
Stewart and Arthur
The Commission gave its
Whiteside'
permission with the
understanding that deposit
agreement be amended as follows:
"Any menber of the committee
may resign at any time
by giving notice
in writing to the other
members of the committee and
any member
be removed at any time
may
by the unanimous vote of ad other
members present
at a meeting of the committee
attended by a
majority.
"Any vacancy may be filled by action of a
majority of the remaining
members of the
committee, and the
committee may, at any
time, appoint
additional members of the
committee.
Any person appointed
to fill the vacancy or as an
additional member shall have
all the rights
powers and immunities which are
conferred by this agreement
upon the
parties of the second part.
Any removal of a member of the
or any appointment of
committee
a person to fill a
more
vacancy or the appointment
of
additional members of the
committee shall be
subject to the
ap^roval^of the_ICC
Old
as required by Section 77 (P) of the Bankruptcy
Colony Trust
Act."
—Y. 142, p. 3356.
1936
$163,910
$0.31
1935
$127,502
$0.33
1934
$128 114
$0 34
*
*
Oldetyme Distillers Corp.—Earnings—
6 Months Ended June 30—
Net sales
Net profit after deprec., interest and
other charges,
but before Federal taxes
3518,
443
3,078,439
$943,230
$5,916,931
$5,474,848
.
1936
1935
$6,152,116
$2,462,797
286,689
Subs.)—Earnings-
llncluding Coast Counties Gas
& Electric Co.]
1936—3 Mos.—1935
1936—6 Mos.—1935
Operating revenue
$1,283,610
$1,196,991
$2,532,179
$2,308,927
Operation
505,982
450,961
984,119
888,367
Maintenance and repairs
40,787
34,630
81,152
65,153
Deprec'n & amortization
161,713
153,351
329,305
303,503
Taxes (other than Fed¬
Period End. June 30—
eral
income)
72,347
-
interest,
&c
84,956
143,188
169,529
$502,779
Profit--.Other
income—rentals,
$473,092
$994,413
$882,374
*
Total income
Interest on funded debtAmort, of dt. disc. & exp.
Other int. & deductions.
18,120
18,919
29,973
31,302
$520,899
73,650
3,228
$492,011
106,987
2,085
1,535
$1,024,387
148,450
$913,677
232.250
4,170
3,074
714
Prov. for normal Federal
income tax *
6,457
1.041
Divs.
on
pref.
subsidiary
stock
Act
50,013
145,622
95,245
$331,390
$722,815
$578,936
53,296
53,296
106,593
$307,171
$278,093
$616,222
of
company
Net profit to surplus-*
82,839
$360,467
'
p.
1087.
Pantepec Oil Co. of Venezuela—To Be Added
to
The New York Curb Exchange will list
15,000 additional shares of
stock, $1 par, upon notice of issuance.—V.
142, p. 3183.
Paraffine
Initial
List—
common
Companies, Inc.—Extra Common Dividend•—
Preferred Dividend—
The directors have declared
addition to the regular
common
stock,
no
par
Sept. 10.
on
106,593
$472,343
Does not include provision for surtaxes
payable under the 1936 Revenue
on undistributed
earnings.—V. 143,
an
extra
dividend of 25
cents
per
share in
quarterly dividend of 50 cents per share on
the
value, both payable Sept. 26 to holders of
record
The directors also declared
the new 4% cumulative
initial quarterly dividend of
$1 per share
preferred stock, par $100,
payable Oct. 15 to
an
holders of record Oct. 1.—V.
143, p. 767.
Pacific Eastern
Associates—Earnings—
6 ufonths Ended June 30—
Net profit after all
charges & taxes..
Earns, per sh. on 376,208
shs.cap.stk.
—V. 142. p.
444
3,791,175
Pacific Public Service Co.
(&
one or more
or
70
522,772
$1,097,668
Net operating income.
agree¬
taken upon the
the railroad
company's protective committee
composed of
one
71
619,924
—V. 143, p. 1087.
New
ment
Earnings—
1936—Month—1935
1936—6 Mos.—1935
$5,205,488
$4,717,435 $30,516,028 $27,756,352
17,201
18,700
101,359
101,128
3,470,766
3,232.803
20,707,007
19,102,380
common
trustees for the New York New
Haven & Hart¬
ford RR. and Old
Colony RR. would further impair an
already shaky
public confidence in railroad
securities, the Reconstruction Finance
Cor¬
poration and the Bank of Manhattah
Co. told the Interstate
Commerce
Commission Aug. 17.
In briefs
opposing the ratification of Howard
S.
Palmer, William Daniels and James Lee
Loomis, New Haven trustees, as
trustees also of Old
Colony, the RFC znd the banking firm
asserted that
such a decision by the ICC
would justify a public belief
that lesser rail
securities will not receive
ordinary protection in reorganizations.
Ratification of the appointments is
being opposed by these
on the ground that
institutions
the conflicting interests of
the New Haven and
Old Colony require a
the
separate trustee for the Old
Colony.
The Commission's action in this
case, the Manhattan Co.
brief said
will doubtless become a
precedent governing the
treatment to be accorded
to leased lines
generally in proceedings under Section
77 of the Bank¬
The
Telephone & Telegraph Co.
revenues
Uncoil, oper. revenue
Operating
.
Ratification of
Pacific
Period End. June 30—
Operating
Colony RR.—-Ngw Haven
Opposed—
•
See list given on first
page of this department.
2,228,416
"
200,000
26,270
200,000
28,704
Other income deductions
Old
'
•
(John) Orr Products, Inc.—Registers with SEC—
Gross income
Net income
—V. 143, p. 282.
counsel.—V.
965.
p.
$4,148,076
reserve.-----
Interest charges
(net).
Amortization of debt discount and
expense
loan certificates.
Since its
response from other loan certificate
•
.
Co.—Earnings—
of actual holders of approxi¬
mentioned
gratifying
Corp. to segregate current earn¬
ings from July 31, 1936, the date of commencement of
foreclosure proceed¬
ings, for the benefit of the properties and the
mortgagees, any balance re¬
maining, if the plan is consummated, to be
immediately turned over to the
company taking, title under the
reorganization, and in the event that the
plan is not confirmed to be subject to the
jurisdiction of the Court.
(2) An agreement by Broadcort
Realty Corp., the owner, whereunder it
will contribute to the
company taking title to the property
following re¬
organization the entire balance of accumulated
earnings from the property
in its
treasury as of the date on which foreclosure
proceedings were instituted,
which the committee is informed
amounts to
approximately $300,000.
(3) An agreement by the owner that
upon the formal presentation of the
plan in court, the owner will consent to a
modification whereby the number
of representatives of the first
mortgage loan certificate holders upon the
Earnings for 6 Months Ended June 30, 1936
12 Months Ended—
Gross revenues
above
a
continuously engaged
in negotiations to work out a
satisfactory plan of reorganization to that end.
Since our original letter of Feb.
5, 1936, there have been secured from the
owning corporation certain agreements which constitute
substantial im¬
provements to the plan as
originally submitted by that company, viz.:
(1) An agreement by Broadcort
Realty
Co., Ltd.—Extra Dividend—
Ohio Public Service
the
holders who have
signified their decision to cooperate with the committee.
object is to facilitate a fair and prompt reorganization
property which will protect and improve the position of the
first
mortgage loan certificate holders and it has been
The directors have declared an extra
dividend of 20 cents per share in
addition to the regular
monthly dividend of like amount on the common
stock, par $20, both payable Sept. 15 to
holders of record Sept. 5. Previous
extra payments were as
follows:
$1.20 per share on Dec. 14, 1935 and on
Dec. 15, 1934; and 30 cents
per share paid on Dec. 15 and Nov.
15, 1933.—
V. 141, p. 3389.
Ohio Leather
of
The committee's sole
of this
.
r.
Oahu Sugar
$1,300,000
formation it has received
Corp.—Registesr with
.
protective
mately
first page of this department.
on
Hanover 2-0077
committee for the first
mortgage 5 Yt % gold loan certifictes, due Aug. 1, 1951 in a circular dated
Aug. 14 states:
A foreclosure action was
commenced on July 31, 1936 in the New
York
Supreme Court of the mortgage
covering 165 Broadway and 99 Liberty St.,
securing the Benenson Building Corp.
5)4% fc'old loan certificates, and a
copy of the plan of reorganization, dated Feo.
3, 1936, has been presented
.
See list given
N. Y.
165
declared a special dividend of $1.25
per share on the
capital stock, par $25, payable
Sept. 1 to holders of record Aug. 17.
The
regular quarterly dividend of $1.25
per share was paid on June 30 last.
The company
paid an extra dividend of 75 cents on
Sept. 30, 1935 and an
extra of $1 per share on
Oct. 31, 1934.—V.
141, p. 1940.
Garden
ST.,
Broadway Building (Benenson Building Corp.)—
Foreclosure Proceeding
Stated—Reorganization Plan Filed—
Northwestern National Insurance
Co.—Special Div.—
The directors have
Oakhurst
SEC—
at about S3 per share
Petroleum Conversion Corporation
(Common)
YARN ALL & CO.
Pennypacker 0300
1241
N. Peter
Corp.—Semi-annual Report—
Rathvon, I resident, says:
• 1936 are shown in the
consolidated statement to be
$36,310,912, equivalent to approximately $6.67
per share of net
outstanding
capital stock at that date, compared with
$27,322,873 or
approximately
$4.79 per share of net outstanding
capital stock at June 30, 1935.
Since Dec. 31, 1935 there has
been a further reduction in
notes payable
from $800,000 to $500,000.
Because of this reduction as
Net assets at June 30
well as the re¬
duction effected in the rate of
interest,, the interest expense for the
was $8,022
period
compared with $21,102 for the
similar period in 1935.
Con¬
solidated expenses of the
corporation other than interest were
also reduced
from $141,714 for the first
six months of 1935 to
$130,359 for the similar
period of 1936 1
Financial
1242
Consolidated Income
Account 6 Months
[Incl. American Co.
(Before Consolidation
with Controlled
Dividends
Income:
Interest-
Other
Total
Cash..
non-consolidated controlled
ended June 30, 1936, before
Balance of
(
I
Co. (& Subs.)—Earnings—
$30,717,295
Federal
after deprec.,
deductions
income
Net
tax &c.
$283,812
$250,393
$534,205
$0.66
Earnings per share on 429,498
mon shares (par $2.50)
amounts at which such investments were or
included in the consolidated statements of
financial condition at the beginning and end
of the period, after giving effect to adjustment
of net profit on sales of investments as set
6 Months
Mar. 31 '36 June 30 '36
Period—
capital surplus at Dec. 31,1935—_
during the period in the difference be¬
book valuations of investments and the
Total
3 Mos. Ended
Account June 30, 1936
Net change
tween
Parker Rust Proof
$32,406
$926,684
$952,897
—
4033.
—V. 142, p.
companies
63,662
capital.i
31,'35
$26,821
96,491
252,578
357,696
255,604
$989,192
62,507
$1,016,559
current liabilities
Less
Net working
minority interest
sales of invest¬
and losses of
Consolidated Surplus
receivable (less reserve)
U. S. Government bonds (cost)
Federal Land Bank bonds (cost)
Municipal bonds (cost)
138,381
eliminating $548 net income applicable to
and before inclusion of profits and losses on
ments and revaluations thereof and profits
$50,328
96,277
252,578
357,696
259,679
.....
...
Notes and accounts
$170,788
-
the 6 months
Net income for
Current Assets—■
Co., Ltd.]
Companies Carried as Investments)
$154,706
14,392
—
1,689
-
Expenses
Working Capital
June 30, *36 Dec.
Comparative Statement of Net
Ended June 30, 1936
and Pacific American
1936
Aug. 22,
Chronicle
$0.58
$1.24
com¬
3184.
—V. 142, p.
are
Investment in
Shenandoah Corp
respect of portfolio
decrease in
Less,
and
Selling, general
»
_
765,590
$1,454,413
Interest received, net
sales of invest'ts,
providing $126,000 for
Provision for
Net earns,
to
reflect net loss
of amounts
Preferred dividends
companies) . _ _
the six months ended
Portion of surplus changes applicable
$3,075,054
175,305
11,351
110,339
$2,614,759
$2,482,568
21,852
110,338
$0.33
$1.17
stock.
Consolidated Balance Sheet June 30
691,323
763,090
32,406
6,565
June 30, 1936, as above._
to minority interest
contingencies
Excess of cost over par value of 147,320 shares of capital
stock purchased dining the period
Additional provision for
$31,519,358
168,065
486,847
.
30, 1936
$30,864,444
Notes—1. Investments are carried on the books
of Pacific Eastern
Corp. and consolidated subsidiaries on the following bases:
(a) Investments in controlled but non-consolidated companies and in
American Trust Co., the majority of common stock of which was sold dur¬
ing the period, generally on the basis of management's valuations (except
the investment in Shenandoah Corp. which was adjusted to the lower of
capital surplus at June
Balance of
30, 1935
sh. on 441,354 shs. (no par) com.
Includes undistributed profits taxes.
x
Total
Deduct:
Juni
Earned surplus
«•-
Net income for
—
Earns, per
Net loss, as adjusted (incl. $600,045 in respect
of sales of invest'ts in and receivables from
non-consolidated controlled
—
dividends
Common
337
$169,448
2,445,310
$2,778,059
preferred stock retired
Premium paid on
1,406,012
chases
ended June 30
March 31--
surplus.
Total
averages
which invest'ts were carried
in Dec
31, 1935 consolidated
statement of financial condition
and costs of subsequent pur-
at
18",723
$529,899
2,545,156
for the 3 mos.
Earned surplus as at
$714,688
1,853
633
applic. to min. int. in subs.
Proportion of profits
from
non-consolidated
controled companies)
on
of capital assets
Federal income taxes
Reduction in value
ables
adjust,
$188,509
l
Total profit
normal Fed. income tax on net
profit computed on a tax basis:
profit on book basis (after de¬
ducting $444,495 net loss on
sales of invest'ts in and receiv¬
Net
based
$186,656
Profit
Less, net loss on
Less,
—
$4,923,008
3,851,266
716,543
168,542
$692,891
51,180
xlll.181
and equipment
$6,951,638
5,335,149
729,502
192,406
$694,580
Dr 1,689
and administrative expenses
Depreciation of plant
•
1935
,
1936
Ended June 30—
Sales.net—«.
Cost of goods sold
$2,220,004
—
holdings
other investments
after
Co. (& Subs.)—Earnings—
Pet Milk
3 Months
end market quotation on or after Dec. 31, 1929).
(b) Other investments at the lower of cost or any year end market quota¬
tion (or management's valuation in the absence of market quotation) on
or after Dec. 31, 1929.
2. The above statement does not include the interest of Pacific Eastern
Corp. in the net increase for the period in surplus accounts of non-con¬
solidated controlled companies owned at June 30, 1936 (other than Shenan¬
doah Corp.) amounting to $38,814 as reported by such companies.
No provision has been made in the above statement for the Federal
surtax on undistributed net income which may be payable by the companies
under the Revenue Act of 1936 since any liability for such tax cannot be
determined until the end of the year.
mach'y & equip. 6,062,916
Cash
Accts. & notes rec.
1,711,246
empl., &c.
6,075,218
945,447
1,592,103
12,546
Goodwill
2,550,959
Inventories
17,189
Miscel. accts. rec.
y
in subsidiaries..
1,000,000
Accrued salaries &
"
taxes....
78,398
al80,243
229,850
Federal tax reserve
Miscell. invests
Deferred charges..
Insurance reserve.
for
&c__
Reserve
41,284
147,197
229,321
con¬
tingencies,
53,237
40,575
38,299
70,850
66,152
56,556
wages
Sundry acc'ts pay.
66,299
526,035
61,651
549,017
33,546
141,908
advs..
&
1,337.749
Notes payable
Accrued
receivable
accts.
2,1)76
1,221,204
2,987
payable-
Accounts
38,049
partly secured. _
Long-term notes &
interest
Minority
945,175
531,084
1,099,881
10,117
3,693,960
11,965
Due from employ.,
Invests.
$
1,248,700
7,798,534
See z
stock
Common stock.. 7,798,534
Pref. 7%
Real est., bldgs.,
Due fr.
1935
5
Liabilities—
$
Assets—
x
1936
1935
1936
150,000
2,482,569
2,778,059
Surplus
cost or any year
Consolidated Balance Sheet
[Including American
(Before Consolidation
June 30, 1936
American Co., Ltd.]
Carried as Investments.)
Co. and Pacific
with Controlled Companies
Assets-—
Cash-
$3,111,337
4,274
'
51,578
-
Due from broker
sold
for securities
Dividends receivable and
Portfolio holdings,
interest accrued
priced at June 30,
1936 market quotations:
37,931
Bonds
,
_757,928
Preferred stocks
Common stocks
17,493,161
.
receivable, carried by management for pur¬
pose of this statement at
Investments in and receivable from controlled but non-consolidated cos., carried by management for purpose of this
Notes and accounts
657,292
(
1,400,000
statement at-__
controlled company (164,shares of common
reflected by its certified
statement of financial condition at June 30, 1936)..
13,132,705
Investment in and receivable from Standard Equities Corp.
. •
(42.86% of outstanding stk. and $1,375,000 notes receivable),
carried by management for purpose of this statement at
1,237,000
Miscellaneous investments and other assets, carried by manage¬
Shenandoah Corp., a
Investment in
905 shares of $3 preference and 3,366,913
stock priced at per share amounts
ment for purpose
2,720,000
400
of this statement at.
'
Deferred charges
$40,603,609
Total-
Liabilities—
Provision for current year
37,916
151,100
3,319,000
200,753
Federal and States taxes
contingencies
Amount applicable to minority stockholders in American
Capital stock (par $1): Authorized 7,000,000 shares;
5,765,081 shares, less 318,614 shares in treasury
Balance of capital surplus
Provision for
Co—
issued
2678.
.
Corp.—Listing—
Pennsylvania Glass Sand
Park Utah Consolidated Mines
[Including Ontario Silver
Consolidated Profit
voting trust certificates so to be delivered being
lationship of collectible current assets of Tavern
for
1,654 shares of common
not
less than
stock, of which voting trust
1,225, and not more than
Owens pursuant to the above-mentioned
of the corporation and have heretofore
Consolidated Income Account for
Depreciation
Profit from
and
6' Months Ended June 30, 1936
depletion'
,
Income ore sales
Leasers ore sales
$358,026
2,532
16,090
3,616
(less smelter charges)
(net)
Interest on investments and
loans.
Rentals and miscellaneous
$380,265
Total income
47,168
2,250
14,625
expense
Drainage expense
Compensation insurance
New York stock transfer and adminis¬
26,257
trative expense..
Depreciation
foivperiod
1st mtge.
on
l0,3,331
bonds..
Income taxes
43,000
(estimated)
.1
,'
Preferred dividends
x
\
—
...
42,475
$15,105
x$ 188,302
..
143,036
;
;
Subject to allowance for tax on
from
16,929
&c...__
tax on loans,
Amortization of bond discount,
undistributed net income
for the
period
Jan,; 1 to June 30, 1936.
Balance Sheet
Comparative Consolidated
June 30,
30, '36 Dec. 31, '35
234,890
479,546
230,639
Accrued bond int. *
236,880
204,809
140,436
40,600
5,047
248,755
accts..12,498,684
12,435^315
218,961
203,888
net
i
I.
Life insur.
_
policies
Accrued int. ree__
Investments
Gen. prop,
Deferred
accts...
50,100
4.750
17, 081
accts.
50, 963
33,114
Dividends payable
47, 679
43, 000
95,358
4,555, 000
4,600.000
2,006, 000
2,006,000
Other
accr.
Income taxes (est.)
1st
mtge.
4 Yi%
bonds
x
Capital stock at
stated value
3,325
Sinking fund
$
187,076
17,250
75, 762
vendors. &c..._
126,986
Dec. 31, '35
payable,
Accounts
Inventories
'36
$
Mobilities—
$
$
Cap. surplus, from
appraisal
3,667
Tunnel maintenance expense
General taxes, insurance,
$351,562
Income before interest, &c
Interest
258,926
operating and maintenance expense..
Development
...
-
$403,104
78,380
$324,724
26,838
operations
Bills & accts. rec.,
Months Period Ended
certificates for
1,654, shares will be delivered to
agreement, are held in the treasury
been listed.
Profit from operations
Cash
June 30, 1936
dependent upon the re¬
to the current liabilities
of July 31, 1936, such relationship to be determined
by an accounting between the corporation and Owens on or about Dec.
31, 1936.
The issuance of the additional 13,775 shares of common stock,
which are to be deposited under the voting trust agreement and voting
trust certificates for which are to be delivered to Owens, was authorized
at a meeting of the holders of the common stock held July 28, and at a
meeting of the board of directors held July 28.
Voting trust certificates
of such company as
June
Mining Co.]
and Loss Statement for the 6
trust
13,775 additional shares of common stock (no par) upon
official notice of issuance pursuant to the agreement for the acquisition of
all the issued and outstanding shares of capital stock of Tavern Rock Sand
Co., making the total amount applied for voting trust certificates for
450,000 shares of common stock.
The corporation has entered into a contract with Owens-Illinois Glass
Co., an Ohio corporation, made July 31, 1936, for the acquisition of all
the issued and outstanding shares of Tavern Rock Sand Co. (Mo.), pur¬
suant to the terms of which the corporation is to deliver to Owens voting
trust certificates for not less than 15,000 nor more than 15,429 shares of
the common stock of the corporation.
Voting trust certificates for 1,5,000
shares of such stock are to be delivered on or about Aug. 31, 1936.
The
balance of such voting trust certificates deliverable pursuant to such con¬
tract will be delivered on or about Dec. 31, 1936.
The exact amount of
certificates for
Assets—
Co.—Earnings—
1
has authorized the listing of voting
The New York Stock Exchange
'
\
\
loss
3519.
Net income
5,446,467
30,864,444
1. .$40,603,609
Total
Mine
P.
Other income
$500,000
83,927
payable to banks, secured
Due to brokers for securities purchased
Other accounts payable and accrued expenses
Notes
—V. 142, p.
Total _.
13,678,529 13,186,265
x
After depreciation of $5,811,421 in 1936 and $5,308,758 in 1935.
y Represented
441,354 no par shares.
zAll outstanding preferred stock
called by May 20, 1936.
a Includes undistributed profits taxes.—V. 142,
13,678,529 13,186,265
Total
Total
349,886
Drl93,890
value,
y
surplus
Total
13,605,214 13,758,391
convertible preferred stock, without pa
300,000 shares common stock, withou
1,569 shares preferred and 1,654 shares common votini
13,605,214 13,758,396
x 28,814 shares
$7 cumulative
value, redeemable at $120, and
par
6,663,603
340, 017
Treas.sik.at cost Drl93 ,890
Earned
y
6,663, 603
trust certificates.—V.
143, p.
933.
Peerless Casualty
stock in connection with
reorganization:
Mills Co. (Del.) issued, 549,225 shares
Co.—Registers with SEC—
stock of
Corp.—Registers with SEC—
See list given on first page of this department.—V.
142, p. 4033.
z
Peninsular
The directors
each on the
Telephone Co.—Larger Dividend—
have declared two quarterly dividends of 25 cents
made
the common stock since Jan. 1, 1934 when a regular
dividend of 25 cents per share was distributed.—V. 143, p. 439.
on
not now
Consolidated Balance Sheet May 31
1930
y
subsidiary
depletion reserves)
Other income (net)
-
Fixed plant
Movable plant
Cash
z
—
rec
Bill of lading drafts
under collection
bonds
Other curr. funds
Advances on grain
Net oper. rev. and other income (before approp.
for retirement and depletion reserves)—
—$24,545,214 $23,009,508
Appropriation for retire. & depl. reserves6,991,129
7,002,188
Res.
.
Gross
income
Amortization of debt discount and expense
Guaranteed divs. on Consolidated Gas Oo. of the
529,416
Oity of Pittsburgh pref. capital stock.
Appropriation for special reserve
69,192
500,000
Other income deductions
295,394
Net income
Surplus, beginning of period.
—„
398,964
Disct.
69,192
bonds.
on
Corp. bonds
gold bonds
86,322
220,404
1
—
Res.
for
and
1
1
Total..
219,690
800,000
—
Total
__
6,460,222
—
33,281,218 30,090,876
—
After deducting depreciation and
maintenance of $6,422,951 in 1936
$5,622,412 in 1935.
y At depreciated value,
z Less reserve for bad
debts of $202,500.
a Set
aside pending settlement of undetermined
liabilities, per contra.—V. 142, p. 1482.
1,000,000
Pioneer-Bridge
1,375,000
sec—
186,250
166,988
River
Syndicate—Registers
/*
Gold
:
See list given on
2,343,677
3,840,198
139,399
Years Ended March 31—
Gold bullion
Ltd.—Earns.
1936
—
Miscellaneous
-
—
—
1935
$3,045,188
$1,811,737
1,277,129
.
—
67,068
104,426
$3,112,256
812,936
income—
$3,193,292
774,319
—
Totalincome
Cost of production
Net profit before deprec., depletion and inc. tax. $2,299,321
Depreciation:
102,578
Depletion.
274,684
___
_
Phillips Petroleum Co.—Files with SEC—
—.
421,073
—
of shares will
Earns, per share on
1,751,750 shs. of capital stock
($1 par)
be issued
to the stockholders.
Balance Sheet March 31
The
1925
1936
Assets—
-
Cash
10,876
31,231
corporate purposes.
Any part of the 296,631 shares not subscribed for upon exercise of the
warrants may be offered to the public at not less than $30 a share or, in
the discretion of the president, the company may decline to sell such
95,984
Mining properties. 1,702,562
Plant,
buildings,
mach'y & equip. 1,116,383
Deferred charges.
13,008
90,133
1,701,468
remaining shares or any portion thereof and shall treat them
and unissued stock.—V. 143, p. 1088.
'
1
Gold
a
receivable
Net loss after expenses & other charges
1935
$31
Includes expense item representing extraordinary expenses in connec-'
tax litigation,
a The statement of income for the six months
30, 1936, follows:
Income received:
from interest on U. S.
Treasury notes, $1,399; from profit on sale of U. S. Treasury notes, $7,164;
total income received, $8,563.
Expenses paid:
For legal service, tax
litigation, $50,000.
Loss for the period, $41,437: deficit Jan. 1, 1936,
$9,514,256; deficit June 30, 1936, $9,555,694.—V.*142, p. 3689.
The
of
statement
income
and
1936—6 Mos.—1935
a$140,666
loss$27,434
six months ended June 30
U. S. Treasury notes, $4,450;
profit on sale of U. S. Treasury notes, $14,156: from dividend of 25
cents a share on 645.834 shares of Consolidated Oil Corp. stock, $161,459;
a
surplus,
From interest
Income received:
$180,065.
Expenses paid:
For general and ad¬
ministrative expenses, $23,551; for franchise taxes of Pierce Oil Corp. and
expenses of that corporation necessary to maintain its corporate existence,
$15,705; for expenses in connection with tax litigation, $142.
Net income
for period, $140,666; surplus Jan. 1, 1936, $411,028; surplus June 30, 1936,
$551,695—V. 142, p. 3520,
income
received,
Ended
May 31
Period—
Operating profit
x$2,814,934
&c._
574,700
1,113,564
Net
income
Previous surplus-.i
Proceeds from ins. pol's.
Year Ended
217,686
$908,984
8,590,176
'35 May 31 '34 May 31 '33
$3,543,844
$3,565,971
$2,727,989
536,731
542,706
454,254
1,054,717
982,272
976,531
415,000
445,000
140,000
$1,537,395
8,416 686
$1,595,993
7,452,301
$1,157,205
8,070,302
219,006
$9,048,293
631,608
$9,446,512
466,840
-
Total surplus—
$9 499 160
$9,954,082
Common dividends
878,758
878,758
Prov. for pur.
of annuit's
units
of
Dismantling
fixed plant
y Transferred from surp,
Add'n to res. for con ting.
375,000
,
---
Balance, surplus.
Shs. com stock (par $25)
Earnings per share-.---
Year Ended 11 Mos.End
'36 May 31
Deprec. & maintenanceFederal taxes, &c
Interest, discount,
„
-
—
2,160,179
1,152,370
...
485,147
$6,460,222
549,225
$1.65
$8,590,176
z549,225
$2.80
$8,416,686
z549,225
$2.90
$7,452,301
z549,225
$2.10
sold and selling, general and adminis¬
$64,030,444, and miscellaneous deductions,
net— (loss on fixed plant, reorganization expense, inactive mill expense,
&c., $128,292, les3 adjustments of prior years income taxes, and other
credits, $126,294), $1,998.
y Amounts transferred from surplus to capital
x
After deducting cost of goods
trative expenses amounting to
„•
980,019
1,751,750
shares
sold
25,000
736,772
25,000
836,358
Surplus
$5,074,880 $4,560,490
Total.-.
$4,795 in
1936
§ Months Ended June Z0—
Net profit after charges and Federal
Earn, per share on
—V. 143, p. 599.
$224,096
taxes.
872,067 shs. capital stock
Pittston Co.
1935.
$0.25
1935
$183,767
$0.21
(& Subs.)—Earnings—
Net sales.
Costs, expense, &c
1936
1935
1934
1933
..$16,862,566 $17,742,603 $20,010,364 $15,055,458
-
Profit
Other income (net)
Total income
(net)
Depareciation, depletion
Interest
16,556,951
17,771,775
19,189,888
14,918,268
$305,615
58,042
loss$29,172
45,269
$820,476
149,817
$137,190
132,283
$363,657
342,059
$16,097
353,194
$970,293
350,707
$269,473
362,254
and
amortization.
509,860
551,977
524,258
534,627
22,038
26,027
39,581
2,571
7,630
78,658
Dr20,447
183,189
Drl7,962
152,288
22,219
124,098
$581,328
$1,118,737
$114,503
$776,296
.
Provision for Federal in¬
come
tax
Profit on sale and demol.
of
propefty, &c
Minority interest
Pillsbury Flour Mills Co. (& Subs.)—Earnings—
Year
$5,074,880 $4,560,4901
on
251,166
on
from
total
plant, buildings,
mach'y & equip.
352,051
Res. for deple. on
mine properties. 1,254,703
b Share capital
1,751,750
6 Mos. End. June 30—
Corp.—Earnings—
loss$13,017
Res. for deprec. on
Premium
998,460
9,168
payable
1935
$84,444
380,999
350,350
Pitney-Bowes Postage Meter Co. (& Subs.)—Earnings
y
follows:
ma¬
hand-
Dividends
•
y$100,249
ended June
$160,067
on
1936
$93,398
411,270
350,350
__
Res. for inc.taxes.
a After
reserve for bad debts of $4,866 in 1936 and
b Represented by shares of $1 par.—V. 142, p. 4189.
1934
tion with
1936—3 Mos.—1935
$788,466
197,838
743,725
and
terials
Total..
1936
a$41 437
$1,159,030
225,220
751,815
Loans & accounts
Supplies
unsold
as
bullion
Investments
Liabilities—
Sundry creditors
hand and
on
inbanks
Corp .—Earnings—
6 Months Ended June 30—
Period End. June 30—
$0.91
-
expire Oct. 5, 1936.
According to the registration statement, no definite allocation has been
made of the proceeds, but it is the present intention of the company to apply
$3,000,000 to the payment of bank loans and $2,000,000 to the payment of
the first maturities of outstanding serial notes.
The balance of the proceeds
will be applied to reimbursement of the treasury for capital expenditures
made during the first six months of the current year and to other proper
Net profit after expenses
& all bther deductions
$279,828
—
-
Balance
warrants will
Petroleum
1,401,400
$1,593 ,641
1,313,813
-
— _
record Sept. 4,1936, in a ratio of one share for each 14 shares held.
Trans ¬
ferable warrants evidencing rights to purchase full shares and fractional
Pierce
480,207
$1,500,986
$0.86
Dividends—
The company on Aug. 11 filed with the Securities and Exchange Commis¬
a registration statement (No. 2-2389, Form A-2)
under the Securities
Act of 1933 covering 296,631 shares of no par value common capital stock.
The company is offering the stock at $30 a share to its stockholders of
sion
Pierce Oil
$2,418,973
84,035
261,090
-
Net profit for year
warrants for fractions
*
$99,586
Dominion and Provincial taxes
$28,777,525 $27,863,779
——
with
first page of this department.
Pioneer Gold Mines of British Columbia,
—
Surplus, end of period——
283.
800,000
1,333,429
8,590,176
237,016
and
Balance
$28,777,525 $38,869,608
Adjust. Of charges prev. made against surplus aris¬
ing from revaluation of property, representing
unamortized debt discount and expense and
premiums on bonds redeemed, and commission,
net premiums, expenses and dividends on redemp¬
tion and sale of preferred stocks.
11,005,829
—V. 143, p.
4,860,000
861,923
219,689
conting's
insurance-
Capital surplus
33,281,218 30,090,876
861,200
— —
4,575,500
— —
Res.for process .tax
Dividend payable
81,259
330,886
1
-
Premium earned and accrued thereon
_
Warehouse
Earned surplus
Paid-in surplus
$36,766,098 $47,921,122
...
1st .M. 20-yr. 6%
305,445
$6,969,287
40,951,834
Charges to surplus:
Duquesne Light Co., appropriation from surplus
for special reserves
Dividends, cash:
Duquesne Light Oo. preferred stock
1,375,000
Kentucky "West Virginia Gas Co.—
Preferred stock
186,249
Common stock (incl. minority interest)-.---168,978
Philadelphia Company:
Preferred stocks
2,343,635
Common stock3,840,227
Miscellaneous charges (net)
74,481
184,090
tr'marks,
trade names, &c.
x
Total
184,144
of
processing tax., 6,036,338
G'dwill,
250,000
,
$8,902,319
27,863,779
island
Trade
Hydraulic rights
,
44,936
420,719
invalidation
Prepaid Insurance,
interest, &c
memb'shlps,
sundry 8tks.,&c.
415,000
undeter.
for
373,635
retirem't of bds
,_$17,554,084 $16,007,319
990,091
991,436
6,267,671
7,022,993
869,000
liabils aris. from
93,814
Special deposits for
rec
275,000
200,000
and State taxes
112,492
Miscell. accts.
$
currently
maturing..
755,196
8,348,745 Reserve for Federal
497,660
6,794,607
a6,036,338
Inventories
and
$24,319,141 $22,810,361
226,072
199,146
1935
$
Liabilities-*-
.
purchases
Rents for lease of properties--Interest charges (net)
$
13,730,625 10,000,000
13,734,741 14,441,717 Capital stock
375,651
366,551 Accts. payable and
accrued liabils—
983,843 1,043,441
2,423,641 2,454,075
2,441,580 2,568,885 IstM. 20-yr. 6% g.
__
Trade accts.
1930
1935
$
•
x
12 Months Ended June 30—
1936
1935
Operating revenues
$49,292,024 $46,925,014
Operating expenses, maintenance and all taxes-—. 24,972,883
24,114,653
approp. for retirement
determinable, arising from invalidation of the processing tax.
Assets'
Not incl. Beaver Valley Traction Oo. (in receivership) and its
(before
No par.
quarterly
Philadelphia Co. (& Suhs.)—Earnings—
Net oper. rev.
Pillsbury Flour Mills,
Note—Included in operations for the year are charges of $5,174,414,
representing processing tax accrued but not paid, less adjustments for floor
stocks and related matters.
This amount and the amount similarly accrued
in May, 1935
($861,923) are considered adequate provision for liabilities
share
common stock, no par value.
The first dividend will be paid
holders of record Sept. 15, and the other will be distributed on
per
Oct. 1 to
Jan. 1,1937 to holders of record Dec. 15.
Dividends of 15 cents per share
had been paid on July 1 and April 1, last, this latter being the first payment
on
Capital stock of Pillsbury Flour
($25 par), $13,730,625; capital
Inc., replaced oy above, 549,225 shares
(no par), at designated value, $10,000,000; increase in stated amount of
capital stock, $3,730,625; capital and paid-in surplus applied thereto,
$1,570,445; remainder, being earned surplus applied thereto, $2,160,179.
See list given on first page of this department.
Peerless
1243
Financial Chronicle
Volume 143
Net lpss
-V. 142, p. 3689.
Pittsburgh & West Virginia Ry.—To Act
on
Loans—
A plan to borrow $750,000 from the First National Bank, Chicago, to
apply toward the payment of $505,000 of loans from Union Trust Co.,
Cleveland, and $285,000 from Pennroad Corp., is outlined by the company
in an application to the Interstate Commerce Commission.
To secure the
loan the road proposes to issue three notes, one three-year note for $350,000
bearing 3% interest; one two-year note for $250,000 and bearing 2%%
interest and one IH% note for $150,000 for one year.
As security for the three notes the company proposes to pledge $450,000
% series D first mortgage bonds and 2,600 shares of common stock ond
6,200 shares of 5H % preferred stock of Wheeling & Lake Erie RR.
The Union Trust Co. of Cleveland is now in liquidation and has made
demand for payment of its loans, the application says.
The excess of the present loans over the proposed notes amounting to
$40,000 will be supplied from the company's treasury.—V. 143, p. 1088.
Pittsburgh Plate Glass Co.—Larger Common Dividend—
The directors on Aug. 18 declared a dividend of $1.50 per share on the
stock, par $25, payable Oct. 1 to holders of record Sept. 10.
This compares with 50 cents paid in each of the six preceding quarters and
dividends of 40 cents per shar$ distributed quarterly prior thereto.
In
addition an extra dividend of $1 per share was paid on April 1, last, and on
Aug. 15, 1935 and an extra dividend of 10 cents per share was disbursed
on April 2. 1934.—V. 142, p. 1827.
common
Financial
1244
Pneumatic Cap & Seal Corp.—Stock Offered—An offer¬
ing of 30,000 shares ($1 par) capital stock was made Aug. 17
(by prospectus) by the It. Murray Glover Co., New York, at
$2.25 a share.
The stock is offered as a speculation.
Capital Stock—Authorized 150,000 shares (par $1).
Issued and
standing. 125,000 shares (incl. 30,000 shares subscribed for under firm
mitmet by R. Murray
out¬
com-
Glover Co.).
Registrar, United States Corporation Co., 15 Exchange PI., Jersey City.
Registrar & Transfer Co., 15 Exchange PI., Jersey City.
Company—Organized in Delaware, March 13, 1935, for the general
purposes, among others, of developing, manufacturing and selling milk
bottle caps and seals and for the specific purpose of exploiting in the U. S.
and Canada the United States patent applications now pending covering
the Pneumatic Cap & Seal.
The milk bottle cap and seals are covered by
the corporation's two applications for letters patent.
Sufficient claims on these applications have already been allowed to
permit the corporation to proceed with the commercialization of its product,
which will be sold under the trade-name of "Numaticaps."
Chronicle
Public Service Co. of Okla.Period End. June'60—
gfice-Pres.), William H. Isenberg (Treas.), Duncan A. Woodman, Don S.
lair.
307,028
304,167
a344,587
412,309
$492,471
$435,958
11,533
9,378
$1,048,174
25,386
$898,471
16,952
$504,004
180,175
$1,073,561
379,025
10,685
$915,424
51,895
479,149
15,096
25,651
325,890
70,205
.
—
Provision for retirement.
Taxes
Net operating income.
Other income (net)
;
_
Gross income
Output-
1936
1935
—
-
April....
May
June
156,017
158,677
140,532
122,975
100,721
97,035
112,663
January
February
March.
118,586
88.374
104,331
149,142
July
•_...
—V. 143, p.
120,547
1089.
Porto Rican American Tobacco Co.
193452
1936—3 Mos.—1935
Period End. June 30—
a
Net
after
loss
Exclusive
—Earnings—
Amort, of bd. disc. & exp
28,607
$445,337
239,343
7,366
12,814
$289,727
133,891
$185,812
133,876
$631,955
267,783
$395,526
267,752
$51,936
$364,172
$127,774
Net
before
inc.
prior
lien dividends—...
Prior lien stock dividends
Balance..
It
a
$155,835
estimated
is
that
the
company
will
State income taxes or Federal surtax
and
$214,258
of company's
proportionate share of the
subsidiary, Congress Cigar Co., Inc.—V. 142, p. 3689.
a
net
of this statement.—V.
of its
The directors have declared
a special dividend of 20 cents per share on the
stock, par $10, payable Sept. 15 to holders of record Aug. 31.
A
special dividend was paid on June 15 last and on Aug. 15, 1935, this
latter being the first payment made singe Aug. 1, 1931, when 10 cents per
share was distributed; prior to this latter date dividends of 20 cents per
share were distributed each three months.—V. 142, p. 3361.
common
similar
Quebec Power Co.—Earnings—
6 Months Ended June 30—
Offered—Braun,
Monroe & Co., Milwaukee, offered in July last (to residents
of the State of Wisconsin only) $150,000 10-year 5% sinking
Expenses... _.;
Exchange
Fixed charges
Net profit
Dated
Capitalization—
10-yr. 5% sink, fund conv. bonds, due July 1, '46.
Authorized
$150,000
900 shs.
x40,000 shs.
Outstanding
$150,000
None
25,672 shs.
Of which
12,000 shares reserved for conversion and options on the
following basis: (1) 6,000 shares reserved for conversion at the rate of $25
per share at any time from July 1, 1936, to June 30, .1939, inclusive; $30
Aug. 31—
1935
1934
1933
$8,702,188
$7,492,688
195,593
$4,512,571
$10,086,625
6,731,109
$8,451,609
5,644,898
$7,297,095
4,622,273
$4,390,653
2,724,915
profit
'
$3,355,516
Selling and administra¬
tive expenses
1,832,056
$2,806,710
$2,674,822
$1,665,738
1,673,193
1,591,283
1,216,995
$1,523,460
87,554
$1,133,518
107.758
$1,083,539
110,055
$448,743
$1,611,014
101,492
326,857
$1,241,276
47,527
312,798
$1,193,594
$545,907
42,825
245,005
Income from sales
Mfg. cost of sales
Gross
Profit from operations
Other income
—
b 1936
Before
charging
Current
Income
deductions,
ciation
Liabilities
$16,095
19,830
21,670
22,054
23,361
24,988
23,194
$12,602
10,234
4,926
5,406
4,920
8,804
5,829
depreciation,
interest
Profit
Paid
$27,791
12,988
5,685
41,696
50,646
8,907
61,264
$38,268
10,268
5,134
5,134
15,403
10.268
Taxes
$5,390
4,184
1,069
9,819
11,830
1,440
16,303
and
income
None
b Nine
taxes.
months ended May 31, 1936.
Providence
R.
Washington Insurance Co.,
Providence,
I.—Financial Statement June 30—
1936
*
Assets—
1935
$
$
U. S. bonds & Trea¬
State,
munic.
Res.
Ins.
1,615,425
910 shs.).
& trust
(9,1,932,450
1,635,150
1,339,395
1,373,820
4,725,592
1,277,616
1,166,800
3,423,366
100,000
4,615
928,219
7,548
1,105,486
Preferred stocks..
stocks
Office
1,042,012
building...
Cash
Bills receivable
liabilities
262,231
3,000,000
6,783,989
Capital
Surplus
359,362
3,000,000
4,765,614
Total....
15,015,963 12,887,013
Note—Securities at market values.-
income taxes
Operating
taxes &
exps., maint.
depreciation..
Net inc. from oper...
Bal. for divs. & surplus.
Total
—V.
143, p. 601.
193,543
128,590
119,353
28,680
$989,122
$752,361
$719,832
$229,397
7
6,447,621
5,711.158
5,571,844
5,243,564
$7,436,743
$6,291,676
476.382
$6,463,518
320,380
321,428
$5,472,961
193,531
Surplus at end of period $6,960,361
$6,143,138
$5,970,248
$5,279,430
642,600
$1.12
642,900
$0.36
Total surplus
Dividends paid
Shares
stock
com.
out¬
standing, no par
Earnings per share
"
635,200
$1.55
638.600
$1.17
.
Consolidated Balance Sheet June 30
1936
Assets—
1935
$
on
x
hand
Accounts
1,550,017
1,310,126
1,328,311
1,374,421
2,372,187
Market, secure.
11,713
3,948,481
1,186,451
3,526,846
1,102,105
Inv.
(incl. advs.)
Sundry
notes
accounts
y
348,220
6,785,538
57,540
charges
6,489,819
115,458
595,157
&
595,156
127,631
96,452
a236,713
128,590
conting.,
taxes, &c
356,127
Capital stock
9,721,800
Surplus
6,960,361
183,369
9,721,800
6,143,139
wages
Prov.
for
Income
taxes
Prov. for
Trade-name, good¬
will, &c
Total.
564,373
762,799
z
..
and
receiv.
Fixed assets
Deferred
$
?
payable
Accrued salaries
1,926,926
Notes, accts., &c.,
rec.
1935
1936
Liabilities—
$
Cash in banks and
378,678
....18,165,432 16,837,722
..18,165,432 16,837,/22
Total
x Market
value $1,394,165 in 1936 and $1,419,759 in
depreciation of $10,041,839 in 1936 and $9,538,415 in 1935.
by 676,012 shares (np par value).
a Includes
prior years taxes.—V. 143, p. 441.
y After
Represented
1935.,
z
Reed Roller Bit Co.—To Be Added to List—
The
New
common
York
stock,
Red
Curb
no par,
Indian
Exchange
will
uppn notice of
Oil
Co.
list
30,000
additional shares
of
issuance.—V. 143, p. 1090.
(Mich.)—Stock
Offered—Field,
Detroit, early in July offered and sold
50,000 shares of common stock at $1 per share.
Stock offered
for sale within the State of Michigan to bona fide residents
of the State of Michigan only.
are
located at 12401 Cloverdale Ave., Detroit,
are
also maintained at Pontiac, Plymouth and Flat
six service stations and has under lease 10
Rock.
Jersey—Earnings—-
6.623,699
82.456.870
81,023,999
$2,571,209 $2,473,858
1,394,445
1,240,451
$37,576,141
$38,743,051
24,339,991
23,174,109
main plant and offices
wholesale
15,015,963 12,887,013
-V. 142, p. 967.
1936—Month—1935
1936—12 Mos!—1935
$9,537,373 $9,097,557 $120,033,011 $119,767,050
6,966:164
53,743
300,666
Capitalization—Authorized, 300,000shares ($1 par); outstanding, 181,755
Public Service Corp. of New
Period End. July 31—
Gross earnings
...
Prov. for depreciation..
Prov. for Fed. & State
shares; this issue, 50,000 shares.
Transfer agent, National Bank of Detroit, Detroit, Mich.; regisrtr.a
Detroit Trust Co., Detroit, Mich.
History and Business—Business founded in June, 1923, and has been
expanded through earnings so that today it is one of the largest indepen¬
dent distributors of petroleum products in the State of Michigan.
The
Agents' balances &
other assets
97,164
McDonald & Co.,
100,000
co.
stocks
Other
4,159,752
unearned
expenses & other
536,035
Bank
602,283
Reserve for taxes &
for
premiums
1,849,010
743,549
4,226,193
1,690,877
and
other bonds
Anchor
$
$
Reserve for losses.
certificates 2,049,560
sury
1935
1936
Liabilities—
121,918
deprec.
and taxes
Other deductions
Mdse. inventories
Divs.
Net
250,580
Total inc. before other
other accts.
& State
Depre¬
Profit
$61,880
47,238
33,350
78,976
90,759
44,141
106,591
1930—-
Mds. End. June 30—
Accrued interest &
on
Net
a
of this department.
1936
$10,390,895
304,270
Federal
Interest
Years Ended
$486,771
Discounts and allowances
receivable..
Summary of Earnings
$393,187
Raybestos-Manhattan, Inc. (& Subs.)—Earnings6
Net sales
Ser share from to June 1939,1946, inclusive. (2) 6,000 shares reserved for
to June 30, 1941, inclusive; $35 per share from
uly 1, 1941, July 1, 30,
possible exercise of the option given to underwriters in contract of financing
on following basis:
At rate of $25 per share at any time from July 1, 1936,
to June 30,1939, inclusive; $30 per share from July 1,1939, to June 30, 1941,
inclusive; $35 per share from July 1, 1941, to June 30, 1946, inclusive.
$1,868,259
1,073,148
4,073
304,266
Mines, Ltd.—Registers with SEC—
See list given on first page
Wisconsin Trust Co., Milwaukee,
of denom. of $1,000 and $500 registerable as to principal.
the bonds may be redeemable on any interest date on 30
Preferred stock, 6% cumulative (par $100).
Common stock (par $10)---•
1934
$1,770,842
1,072,387
1,003
304,266
before depreciation:
Radium & Gold
of July 1,
1936, due July 1, 1946.
Interest payable (J. & J.)
Wis., trustee.
Coupon bonds
Any or all of
days' notice at
102H during first year of the bonds (July 1, 1936, to June 30, 1937), which
premium shall be reduced
of 1% each succeeding year.
Company will
pay into its sinking fund each year for the purpose of retiring bonds by
purchase or redemption a sum not less than $10,000 in amount and equal
to 20% of its net earnings before Federal and State income taxes, subject
to the right of the company to deliver in lieu thereof for cancellation,
bonds purchased by the companv at the actual price paid therefor by the
company but not exceeding the then call price.
Convertible—Bonds will be convertible at option of holder into common
$10 par stock at a conversion rate of $25 per share at any time from July 1,
1936, to June 30, 1939, inclusive; $30 per share from July 1, 1939, to
June 30, 1941, inclusive; and $35 per share from July 1, 1941, to June 30,
1946, inclusive.
Purpose—Net proceeds will be used for the purpose of retiring a large
portion of the company's bank loans, which indebtedness was incurred for
the purpose of providing working capital for the company.
History and Business—Company was incorporated in Wisconsin in 1915
for the manufacture and sale of portable camp stoves.
From 1923 the
company continued to steadily expand its line of products in the field of
gasoline cooking appliances until it became one of the foremost leaders in
the field.
It now also manufactures hot plates, gasoline lanterns, blow
torches and radiating heaters.
In 1935 it commenced the mnaufacture of
circulating oil heaters for residential and similar use.
Company is now the
largest manufacturer in the United States of gasoline camp stoves and is
also one of the largest manufacturers of gasoline kitchen ranges in the
country.
Company now employs 300 workmen and is considered the
considered the third largest industrial company in Wood County, Wis.
as
1935
$1,846,435
1,060,156
2,763
304,266
$479,251
...
-V. 143, p. 441.
fund convertible bonds at 100 and interest.
at First
a
1936
Gross revenue
,
Prentiss Wabers Products Co.—Bonds
x
143, p. 934.
Pyrene Mfg. Co.—20-cent A Special Dividend—
$163,251
profit
have no liability for Federal
undistributed profits for the
be claimed in its returns for
on
year on account of deductions to
premiums and unamortized discount and expense on bonds redeemed in
connection with its refunding operations in February, 1936.
Reversal of
such taxes accrued to June 30 has been given effect in the 1936 columns
1936—6 Mos.—1935
$68,884
$108,184
134,344
9,702
150,948
12,621
151,901
5,494
General
taxes,
&c_.
interest,
116,772
110,812
141,264
122,320
149,099
131,655
109,743
138,335
148,077
-
1934
$*,501,8*7
591,901
interest—_—
Funded debt interest—
current
Pond Creek Pocahontas Co.—Coal
1936—6 Mos.—1935
$] ,229,587
299,679
67,656
2,449
80,893
152,476
190,473
$2,649,097
641,229
143,553
3,050
80,264
154,207
a 171,052
Operation
Power purchased
Gas purchased- *
Maintenance
1936
-Earnings—
1936—3 Mos. —1935
Total operating revenues $1,306,141
Transfer agent,
A plant has been leased at Freewood, Monmouth County, N. J., with
option to-buy the land and factory at an attractice price.
The entire
property embodies sufficient land to allow for ample expansion.
Directors—Anton
F
Burkardt
(Pres. & Gen. Mgr.), Marcel Leduc
Aug. 22,
bulk
plants
Company also
additional service stations, seven of which are located in Detriot.
others are located in Plymouth, Northville, Milford and Flat Rock.
Red Indian
Realty Co.,
and
owns
The
The
wholly owned subsidiary, was organized in 1933
for the purpose of leasing and building service stations.
One service sta¬
tion has been purchased outright and two more are being purchased on
contract by this subsidiary.
Purpose—The purpose of this financing is to liquidate a bank loan in the
amount of $20,000, to add storage facilities for fuel oil and gasoline, and
a
for other corporate purposes.
Volutin
Financial
143
Chronicle
1245
Balance Sheet March 31
iEarnings for Calendar Years
1935
Selling, delivery
plant expenses
and
other
$1,023,699
874,412
94,311
26,290
3,944
71,241
26.683
3,072
1933^
739,829
Invest,
General and administrative expenses.
Provision for Federal income tax
3,883
above
as
follows
■
Steel
,
Co.,
Fed.
Earns,
taxes
shares
(except
for
$473,020
$0.26
$081
$0.49
1934
1933
2,550,733
2,247,755
$1,912,918
1,520,870
$1,144,538
906,911
$761,114
$479,115
5,222
$392,048
3,778
$237,627
6,569
$761,114
$484,336
159,973
33,524
$395,826
157,108
33,618
9,376
25,897
$244,196
119,903
43,366
9,763
10,920
1935
1936
$3,311,847, $2,726,869
Cost of sales
branch plant is located at College Point, Long Island.
See Reliance Bronze & Steel Co.
Profit
per
share
on common
Interest
Federal taxes
$246,911
$169,827
$60,244
xl45,000
y148,000
yl48,000
$1.70
$1.14
$0.40
$1.45
x Represented
y No par shares,
z Before surtax
by shares of $1 par.
on
undistributed profits.
Balance Sheet June 30
1936
1935
1934
$478,704
$0.12
$0.13
$165,026
Nil
Assets—
*
,
*
&
'
'
1936
'
Investments
Prov. for Fed. in¬
and
other assets
Consolidated Income Account—Year Ended June 30,1936
1
-
Patents,
502,815
236,520
Interest—Republic Natural Gas Co. 1st mtge. & coll. 6% bonds
Missouri Valley Gas Corp. 1st mtge. sinking fund bonds and
6% income sinking fund debentures
Other interest
Total
2,47l
......
28,800
income..
$268,245
Consolidate4 Balance Sheet
See list given on first page of this
June 30, 1936
Funded
leases, royalties, gravel prop,
Notes payable
debt
wholly owned inactive
subsidiary (not consolidated)
(bank)
Cash in banks and
on
hand...
b Notes and accts. receivable.
Oil in storage
..'
Other assets
Fees & expenses in connection
with reorganization (est.)..
15,000 Accounts payable
510,623 Salaries and wages payable...
309,339 Accrued general taxes
12,205 Accrued Interest
5,589 Provision for Federal & State
35,792
income taxes
19,716 Other liabilities and reserves.
86,924 Common stock (par $1)
Surp. aris. from acquisition of
$412,500 of 6% conv. inc.
.
Prepaid expenses
Sinking funds (cash)...
...
_
Deferred charges—Reorg. exp.
bonds in treasury of subsid.
Total
..$9,974,074
Total.
.
50,000
73,987
6,760
28,582
140,530
Oil Co.—
21,019
200,308
776,552
11718001)1*6(1 creditors
143,835
26,435
$181,931
27,472
$137,847
23,114
$358,110
52,214
$271,503
45.094
production...
Other income
$154,459
JDrl,824
$114,733
1,237
$305,895
13,271
$226,409
Gross income.....r_.
Prod'n & gen. expenses-
$152,635
62,334
27,060
18,902
$115,970
54,532
18,546
15,214
$319,166
$229,463
120,559
50,531
110.260
$27,678
x$88,444
Royalties.,
.....
from
realization
'
Depreciation.
Depletion (est.)
Abandonments
Prov. for Fed.
12,039
Net profit
—Earn, per sh. on 326,667
shs. capital stock
on
£.054
38,864
30,415
60,296
State
&
income tax
Before tax
36,106
23,527
x$32,299
loss$10,373
company, which will operate in
in cash and total current assets
liabilities of about $6,800,000.
$0.08
$0.10
undistributed profits.'
Republic Service Corp.-
$ 0.27
balance sheet in excess of
Nil
-The new company
V. 142, p. 3185.
(1)
Earnings—
5 Months Ended May 31—
after exp., deprec., taxes,
interest and other charges
Earns, per share oh 17,581 shs. pref.
1936
1935
$59,016
$42,450
$38,551
$3.36
stock.
$2.41
$2.19
141, p. 1108.
15-year 4%
five western States, will have $17,900,000
of over $33,500,000 compared with current
Capital assets are carried on the pro f-rma
$19,300,000.
will have the following initial minimum capitalization:
convertible debentures, convertible into
new
common stock
at $15 first three years, $17.50
second three years and $20 during the next four years—
(2) New common stock (minimum)
(3) Warrants for purchase of 1,250,000 shares new common
stock at $15 first three years, $17.50 second three years
and $20 next four years.
1934
Net inc.
Retail Stores
•
previous proposals, the new plan prepared and agreed upon by
reorganization committee and Kuhn Loeb & Co., provides for the
formation of an enlarged new company, in which the present holders of
nearly $60,000,000 of bonds and claims will participate, together with
Consolidated Oil Corp., Cities Service Co., Rio Grande Oil Co. and others.
The plan has been approved by the various bondholders and creditors
committees and the above-named oil companies.
It is designed to be
carried out under Section 77-B of the National Bankruptcy Act.
In addition to the properties of Richfield and Pan American, the plan
provides for the inclusion of properties of Rio Grande Oil Co. and the
injection of between $15,500,000 and $20,000,000 new capital in the
reorganized concern.
Or the proposed new capital, $15,500,000 has been underwritten by
investment bankers, oil companies and others.
The new money will
provide the company with an initial net working capital of about $26,500,000 and thus provide the means of further improving its position by
(1) acquisition or development of crude oil production, and (2) rehabilita¬
tion and modernization of refineries and other facilities.
Present bondholders and unsecured creditors are offered the first oppor¬
tunity of subscribing to new securities by which additional capital is raised.
Two offerings are made:
One of units more fully described below, contain¬
ing 4% convertible debentures in the aggregate of $10,000,000 principal
amount; and another of 1,000,000 shares additional new common stock at
$10 a share.
The offering of debenture units is underwritten through Rio
Grande Oil Co. by Consolidated Oil Corp. and Cities Service Co.
The stock
offering is underwritten to the extent of $5,500,000 by Kuhn, Loeb & Co.,
Consolidated Oil Corp., Cities Service Co., Petroleum Corp of America,
Atlas Con)., and Blyth & Co., Inc.
Based on a pro forma balance sheet
prepared by Price, Waterhouse & Co., using June 30,1936 figures, the new
1936—6 Mos.—1935
$358,110
$245,069
-
•
Unlike
Proceeds from sale of gas
13,426
'
•
the
Republic Petroleum Co., Ltd.—Earnings—
cashinghead gasoline
Co.—Registers with SEC—
department.
Culminating months of negotiations, a new plan of reorganization was
filed in the U. S. District Court at Los Angeles, Aug. 20 which offers a
solution of the complicated problems of Richfield Oil Co. of Calif, and'
Pan American Petroleum Co., in receivership since early,, in 1931. 1 Judge
Wm. P. James authorized the promulgation of the plan to bondholders and
.$9,974,074
1936—3 Mos.—1935
$181,931
$124,421
-$3,037,097 $2,669,216
Oil Co. of Calif,-^-New Reorganization Plan
Richfield Oil and Pan American Petroleum Companies
—$15,000,000 to $20,000,000 New Capital for Reorganized
Company, Which Will Also Include Properties of Rio Grande
a After provision for depletion and depreciation since Jan.
1, 1934, of
$1,361,622.
b After provision for doubtful of $8,859.-r-V. 142, p. 2338.
Period End. June 30—
Gross crude oil produc'n.
......
108,384
Filed for
.$8,332,500
200,000
warehouse and equipment..$8, 978,984
Inv. in
Total
,
Richfield
Liabilities—
Oil & gas producing prop',
..$3,037,097 $2,669,216
Rio Grande Water Power
-
Note—No provision has been made in the above statement for interest
6% convertible income bonds of Republican Natural Gas Co.
on
Assets—
17,704
Reserves
x Represented by 290,000 shares,
$1 par, valued at $1,349,113 after
deducting 7,132 shares held in treasury valued at $33,179.
Paid-in surplus
$327,591 and earned surplus $435,704. y Less reserve for doubtful accounts,
z Includes
notes receivable.—V. 143, p. 1090.
"
'
71,677
Prov. for Federal & State income taxes and other contingencies
-
33,125
137,893
1
38,946
come taxes..
16,905
1
development
Deferred charges
813,907
Provision for depletion and depreciation
1,696
goodwill
&
$1,924,435
Expenses
1935
—
Republic Natural Gas Co. (Del.) (& Subs.)—Earnings
Revenues
1936
Liabilities—
1935
..$1,696,372 $1,652,646 Common stock and
surplus
244,826
120,187
x$2,112,409 $1,697,860
Funded debt..
Dep. as guaranty
437,175
423,712
of pay. of Judg't
Acc'ts payable183,101
174,927
150,000
HOLC bonds
152,766 Taxes payable.
15,659
44,576
634" 331
y Accts .¬es rec.
390,155 Notes payable due
Accr'd int. rec..
z305
Sept. 25 1936
132,000
3,000
Inventories
315,850 Accrued wages, &c.
131,196
74,292
270,620
Cash
overtime."—V. 143, p. 769.
■
,
...
Fixed assets
Juarter. The total output and at company's plants 17 plants are working
uly improves considerably of the the present time during the month of
•
4,565
39,362
Net profit
z$420,477
Shs. cap. stk. outstanding
x290,000
"A slight reduction in earnings from the
corresponding quarter of last
year," James H. Rand Jr., President, explained,
is directly attributable
to the decreased production resulting from the closing by strikes of eight
of the company's 18 manufacturing plants for about five weeks of the1
...
223,286
41,809
2,705
72,837
Earned per share..
$443,959
stock.
sales....
Gross profit...
Expenses
Depreciation
above.—Y. 142. p. 634.
Quarter Ended June 30—
Net inc. after charges & Fed. taxes..
Earnings
on
Other income.
Remington Rand, Inc. (& Subs.)—Earnings—
-V.
783,715
$0.55
stock.
Reynolds Spring Co.—Earnings—
Reliance Bronze & Steel Corp.—Successor—
x
$918,209
251,177
960,322
on
common
6 Mos. End. June 30—
Sales.
The plants
approximately 148,000 square feet of space and represent the largest
of this type
;
The management of the company will consist of E. F. Gillespie, Pres.;
Charles A. Andres, V.-Pres. & Gen. Mgr.; George C. Hess, Asst. V.-Pres.;
Harry J. Rosenblum, Sec. & Treas. The board of directors includes Messrs.
Gillespie, Andres, and Rosenblum, and J. A. Sisto and Rayford W. Alley.
Net
$319,552
532,161
cqm.
the current year
but prior to its acquisition amounted to $43,057, and have not been in¬
cluded in the above figures.—V. 142, p. 3521
and most complete manufacturing facilities of any company
in the metropolitan area.
&
1936—6 Mos.—1935
The net earnings of a wholly-owned subsidiary during
contain
a
1,042,309 $1,038,235
$600,535
avail,
Earns, per sh.
struction Finance Corporation and additional capital from private sources.
The main plant of the company is located at 67-105 Dobbin St., Brooklyn
Net
Total
1936—3 Mos.—1935
stk. after pref. divs...
„
Recon¬
company recently obtained a loan of $125,000 from the
383,000
586,482
67,898
2,111
2,484
surtax)
of New
engaged for the past 25 years in the manufacture of fireproof kalamein
windows of bronze and steel; hollow metal doors, frames and
trim, for office buildings, apartments, schools, hospitals, &c.
Capitalization of the new company consists of 4,000 authorized shares of
6% preferred stock ($100 par) of which 3,582 shares are*outstanding, and
70,000 authorized shares ($1 par) common stock, of which 49,980 shares
are outstanding.
a
Earned surplus...
[Including "Wholly-Owned Subsidiaries]
doors and
and
Cap. stock ($5 par)
591,947 Capital surplus...
Reynolds Metals Co—Earnings—
York to acquire, own and operate the business of its predecessor, Reliance
Bronze & Steel Corp.
This company (including predecessors) has been
new
607,357
accrued
856
4,452
378,000
579,103
79,411
Federal
422,505
and
-Period End. June 27—
Net profit after all chgs.
&
This company has been incorporated under the laws of the State
for
1935
1,343
Income tax.....
$1,042,309 $1,038,235
-V. 142, p. 2002.
Company
Inc.—-New
Organized—Successor to Old Corporation—
The
receiv.
interest
9,628
9,788
8,170
Initial Common Dividend—
&
Prov.
1936
and
pay.
expenses..
397,860
Total
._
Bronze
accr.
(at cost)
,
The directors have declared an initial dividend of 3 cents per share on
the common stock, par $1, payable Sept. 1 to holders,of record Aug. 15.
Reliance
in
Invest, in Davega
Stores Corp
$19,270
6,179
$24,740
1,619
$24,904
1,518
.
$46,317 Accounts
$9,963
readily
marketable secur.
Divs.
Net profit-.
Cash dividends paid
Provision for depreciation included in
Liabilities—
1935
1936
Cash in banks
direct
-
_
Assets—
$858,997
23,749
..
1934
$1,150,543
1,001,479 *
96,526
Sales
Cost of sales
1
$10,000,000
3,560,000 shs.
Cash received from the exercise of warrants is to be applied to the pur¬
long as there are any outstanding.
chase or redemption of debentures so
Corp.—Earnings—
Following are the bonds and claims which are treated in the reorganization:
Years Ended March 31—
1935
Richfield bonds (principal amount outstanding)
$42,130
35,588
$32,487
295
Pan American bonds (principal amount outstanding ex¬
clusive of $1,296,000 pledged to secure Richfield bonds).
$77,718
$32,782
Richfield unsecured claims (exclusive of $28,000,000 claim
of Richfield bonds against Richfield unmortgaged assets)
8,774
.4,452
5,021
Pan American claims (exclusive of the claim of Pan Ameri¬
$64,492
$27,760
52,979
15,348
1936
Interest and dividends on investments
Profit on sales of readily marketable secur. (net)
—
Total Income
estimated not to exceed
Salaries and transfer, safekeeping and gen. expenses,
including taxes
*.
Provision for Federal income tax
Net incomeDividends paid.
—
$24,981,000
9,145,400
19,500,000
.
bonds estimated at $9,480,060 against Pan American
unmortgaged assets) estimated not to exceed.
can
Total
.
6,200,000
$59,826,400
Financial
1246
The plan
to
present
provides that 2,000,000'shares of new common stock be allocated
bondholders and unsecured creditors.
Estimated minimum
$1,000 bonds or claims is as follows:
Chronicle
47.90
42.00
22.20
2.60
Richfield bonds
Richfield unsecured claims
;-—-
Pan American unsecured claims
$1,000 bonds or claims:
2.39 units
Pan American bonds
2-10 units
Richfield unsecured claims
1.10 units
Pan American unsecured claims
.13 units
stock
common
on
Richfield bonds..
„
23.95
21.00
11.09
1.33
_
Richfield unsecured claims
Pan American unsecured claims
New
common
shares
shares
shares
shares
at
at
at
at
$l($>a share
10 a share
10 a share
10 a share
shares and 500,000 warrants
Grande Oil Co. for the properties which
stock in the amount of 865,000
allocated under the plan to Rio
are
it proposes to transfer to the new company and for the underwritine
debenture units.
Rio Grande's holdings of $6,383,000 of Richfield
Cheyenne,
Denver, Kansas City, La Crosse, Lead, Leavenworth.
Omaha and Winona, conducting in the Province, universities, colleges,
high schools and other establishments, besides serving 10 Catholic parishes
of
in various localities.
,
Other income
this
in
$252,321
Gross income.
-V. 143, p.
„,
amount were
^
No other proposals for
received.
Roxborough Knitting Mills, Inc.—Registers with
$3,303,055
1,265,000
$2,098,055
Consolidated Gas & Electric Co.— -Earnings
1936
1935
$7,734,766
4,463,305
$7,149,269
1,271,460
1,606
$3,290,175
12,880
Net oper. rev. & other income (before appro¬
priation for retirement reserve)
$3,273,066
Appropriation for retirement reserve
1,265,000
$3,303,055
1,205,000
$2,008,066
620,110
61,587
2,473
$2,098,055
832,235
79,302
7,170
$1,323,895
$1,179,347
•
Net oper. rev. (before approp.
income—
all taxes
for retire, res.) —
Other
Gross
income
(net)
Interest charges
Amortization of debt discount and expense
Other income deductions
*
Net income.
1,765,365
$2,948,365
440,475
722,340
$2,944,713
142,379
440,475
737,388
$1,785,550
Total
—
$1,624,469
Miscellaneous charges (net)
Preferred stock dividends
Common stock dividends
Earned surplus, end of period
—V. 143, p.
3,859,094
1,624,469
Earned surplus, beginning of period-------
286.
Savannah
Refining
Sugar
Plan
Co.- -Recapitalization
Voted—
Aug. 20 approved the proposed recapitalization
follows:
26,446 outstanding 7% preferred by converting it
accumulated dividends into common stock share for share.
This
stockholders
The
on
plan, which provides
(Helena) Rubinstein, Inc.—Accumulated Dividend—
1,205,000
$2,008,066
Operating revenues
Operating expenses, maintenance and
SEC—
first page of this department.
$7,149,269
3,290,175
286.
with
as
of the
To retire all
cannot be exercised by the preseqt preferred stock
If all outstanding preferred cannot be retired on this
date, then to retire as much as possible through conversion into common,
and retire the remainder of the 7% preferred by converting it share for share
25 cents per share on account
of accutnulations on the $3 cum. pref. stock, no par value, payable Sept. 1
to holders of record Aug. 22.
Like amounts have been paid each quarter
since and including Sept. 1, 1932 prior to which regular quarterly distribu¬
tions of 75 cents per share were made.
Accruals after the payment of the current dividend will amount to $8.50
per share.—Y. 142, p. 3362.
I
conversion privilege
after Oct. 13, 1936.
Ryerson & Haynes, Inc., Jackson, Mich.—Stock Offered
■—Public offering by means of a prospectus of 70,000 shares
of common stock ($1 par) was made Aug. 20 by Carlton
shares for
The directors have declared a dividend of
into
,
,
Higbie Corp., Detroit, and McDonald, Moore & Hayes,
Inc., Detroit.
The shares, which are priced at $5 each,
constitute part of an issue of 85,000 shares registered with
the Securities and Exchange Commission,
15,000 shares
being under option to the underwriters at scale prices over
a period
of one year. \ Net proceeds of the offering will
be paid into the treasury of the company.
The company's only funded debt consists of a mortgage on its Jackson,
Mich., plant in the amount of $22,500, payable $1,500 annually to Nov. 21,
1938, when the balance becomes due.
Capitalization at April 30, 1936
consisted of 123,400 shares outstanding of a total authorized issue of 250,000
shares of common stock.
After the issuance of the 70,000 shares now offered
there will be outstanding 193,400 shares.
For the seven months ended April 30, 1936 net income, after all charges,
as
well
as
for other uses.—V. 143, p.
442.
1936
Jan.
25---
Feb.
22
Mar. 21-
—
-
Apr. 18
May 16.June
—
13
—
July 11
Aug.
4-._
-
—-
a year
year,
last year.
of the
as
Action
four-for-one
1934
common
stock
split-up
was
deferred
until
Oct. 28 to allow the company time to determine which of the three alterna¬
the preferred stockholders choose to elect in accordance with the
tives
retirement of the present
Schiff
7% preferred.—V. 143, p. 602.
Co.—Larger Common Dividend-—
The directors
on Aug. 15 declared a quarterly dividend of 75 cents per
the common stock, no par value, payable Sept. 15 to holders of
Aug. 31.
Previously regular quarterly dividends of 50 cents per
share were paid from March 15, 1934, to and including June 15, last;
25 cents were paid each three months from Sept. 15, 1932 to Dec. 15, 1933,
inclusive, and dividends of 50 cents per share were distributed each quarter
from Dec. 15, 1929, to and including June 15, 1932.—V. 143, p. 1090.
share
on
record
Seaboard Air Line
Ry.—Annual Report-
Traffic Statistics for Calendar Years
xl935
Average miles operated
4,308
11,091.808
.
Revenue tons carried
Rev. per ton per mile
xl934
4,309
10,711,978
xl933
4,356
9,633,705
1.39 cts.
1.39 cts.
1,528.774
1,519,660
921,597
mile- —.198,912,187
193,736,144
146,109,133
1.63 cts.
704,269
122,807,911
1.26 cts.
Passengers carried
Pass, carried 1
Rev. per pass, per mile.
1.84 cts.
1.29 cts.
xl932
4,424
8,772,640
1.78 cts.
2.24 cts.
Combined corporate and receivers' accounts.
x
Income Account Calendar Years
$14,995,855
15,375,851
15,885,577
16,256,403
17,203,321
16,943,735
17,825,083
17,287,318
3,361 stores in operation on Aug. 8, 1936, as
ago,—V. 142, p. 1090.
against
Mail
Upon the request of the company received on Aug. 8, 1936 the Securities
Exchange Commission has consented to the witdrawal of the registra¬
1936.—V. 143, p. 935.
xl932
$24,936,536
2,748,288
1,056,547
1,034,344
964,620
984,780
1,012,420
1,278,211
L316.784
1,049.425
1,063,320
*
Total oper. revenues-.$33,944,811
$33,861,442 $31,549,557 $30,740,335
Operating Expenses—Maint. of way & struc.
Maint. of equipment
5,464,243
7,380,839
1,720,760
13,060,406
467,716
zl,358,369
Traffic
Transportation.
Transp. for invest.—Cr
58.311
Total oper. expenses-.$29,394,023
Copper Co.—Withdrawal of Registration
xl933
940,836
_
Other
General
$25,000,000
(see offering
xl934
$26,834,794 $26,040,603
3,446,873
2,383,789
1,237,077
1,452,717
—i
Express
Miscell. operations
Saguenay Power Co., Ltd.—Listing—
Exchange has authorized the listing of
1st mtge. 4M % sinking fund bonds, series A, due April 1, 1966
in V. 142, p. 2842).—V. 143, p. 442.
T
xl935
$26,657,911
3,656,270
Freight
Passenger-
„
$23,106,110 $18,842,638 $16,486,586
23,470,722
20,281,505
17,508,289
24,776,706
20,770,761
17,810,088
25,100,634
21,321,010
17,630,191
25,441,542
21,477,565
17,981,737
25,946,986
21,911,168 19,000,462
26,941.226 - 23,038,026
19,080.864
27,476,807
23,434,823
18,535,453
St. John Gold &
stock by issuing not to exceed four
There are 28,272
stock outstanding.
,
S'prague stated that 1936 results compare favor*
and he expects the earnings will be about the same
deferred until the Oct. 28 meeting.
Opsrating Revenues—
1935
The New York Stock
was
,
The company had
3,412
one
ably with last
Safeway Stores, Inc.—Sales—
4 Weeks Ended—
5% preferred stock of $100 par value, callable at 112. If these plans
the 7% preferred, the plan is to call the remainder and
shares of no-par common
President Benjamin O.
including provision for Federal income tax, amounted to $83,820.
The
company's fiscal year ends on Sept. 30.
Company manufactures automobile parts and accessories.
In addition to its plants at Jackson, Mich., the company recently acquired
under lease, with option to purchase, a plant of approximately 33,000 sq. ft.
of floor space at New Brunswick, N. J.
Major items manufactured by the
company at present are metal tire covers and vehicle jacks, and practically
its entire output is sold direct to motor car manufacturers.
Various new
products are now being actively developed, including a thermostat for
automotive and non-automotive use and an air-conditioning unit for auto¬
mobiles,
a
do not bring in all of
redeem it in cash at $110 a share.
The plan to split up present common
M.
t
12,880
$3,273,066
_
San Diego
reorganization of the properties are before the court or the committees,
nor have any other parties submitted a plan since Aug. 13, 1935, at which
time Standard Oil Co. of Calif, withdrew its offer.—V. 143, p. 1090.
See list given on
1,606
12 Months Ended June 30—
.
bids
827
.
Appropriation for retirement reserve
•
expected that application will be made to list the securities of the
on the New York, San Francisco and Los Angeles Stock
Exchanges.
The management of the new concern is indicated by the composition of
the board of directors, which it is contemplated will include: Fred Bartlett,
capitalist, Pasadena: F. R. Coates, Pres., Cities Service Co., New York;
H. R. Gallagher, Pres., Consolidated Oil Corp., New York; W. Alton
Jones, 1st Vice-Pres., Cities Service Co., New York; Chas. S. Jones,
Pres., Rio Grande Oil Co., Los Angeles; George Macdonald, capitalist.
New York; G. Parker Toms, chairman, Richfield reorganization committee,
San
Francsico; P. H. O'Neil, director. Petroleum Corp. of America,
Los Angeles; H. F. Sinclair, chairman executive committee, Consolidated
Oil Corp., New York.
*
The reorganization committee has requested Mr. McDuffie, the receiver,
to act as a director of the new company.
His acceptance is contingent on
final confirmation of the plan by the court.
Present depositors desiring to approve the plan need take no action.
Holders of Richfield bonds, Pan American bonds and Richield unsecured
claims not heretofore deposited, and holders of Pan American unseciired
claims may approve and accept the plan in the reorganization proceedings
in such manner as may be specified by the court.
■
From time to time during the period of negotiations resulting in the plan
just submitted, the properties of Richfield and Pan American as a whole
were offered at public sale at a minimum price of $29,656,510 fixed by the
No
$7,734,766
3,271,460
$283,004
338
,
1936—12 Mos.—1935
$608,354
282,177
$606,737
251,983
Balance
bonds
company
court.
1936—Month—1935
Operating revenues.
operating revenue--
Net
of the
It is
new
Consolidated Gas & Electric Co.—Earnings
San Diego
Period End. June 30—
$1,503,000 Pan American bonds and $91,051 of Richfield unsecured
claims will receive the same pro rata treatment as all other bonds and
.
the loan, the physical security, land and building have
been valued at $575,000.
and
claims.
Provincial House of the Missouri Province, one
of the several Provinces in the United States.
The order is
additionally represented in the Archdiocese of Milwaukee and in the Dioceses
For the purpose of
at $100 per unit
at
100 per unit
at
100 per unit
at
100 per unit
claims will also receive the right to subscribe to
the following estimated minimum basis:
Pan American bonds
(Jesuits), is
The University is also the
of the largest
Each $1,000 of bonds or
new
University, controlled by the Society of Jesus
established in St. Louis (and vicinity) since 1818, more than 100 years ago.
mated minimum basis per
-----
1936
22,
said to be the oldest University West of the Mississippi River, having been
shares
shares
shares
shares
In addition to the above, bondholders and unsecured creditors are given
rights to subscribe to units, each consisting of $100 4% 15-year convertible
debentures, one share of new common stock and two 10-year warrants for
the purchase of common stock.
Allocation of units is on the following esti¬
Richfield bonds
Louis
St.
allocation per
Pan American bonds
Aug.
of the loan is to refund the present outstanding obligation
of the mortgagor into a lower rate of interest.
The propose
5,136,818
6,788,509
1,656,859
11.814,510
5,680,979
7.088,191
1.589,712
12,249,918
447,795
zl ,848,579
90,441
1.541,245
11,344.891
310,011
1,537,353
82,703
1,696.157
77,999
$25,810,072
5,739,485
2,199,481
14,241
$27,386,854
3 353,481
2,332,615
10,559
4,858,112
6 301,163
372.000
Uncollectible ry. rev
14,693
$28,814 733
5,046,709
2,197,914
38,271
Operating income
!,317,873
$2,810,524
323,763
391,219
$3,525,763
474,783
$1,010,307
502,673
$2,641,636
$3,201,743
$4,000,546
$1,512,980
676,250
1,027,390
761,042
142,628
212,051
9,415,328
660,666
140,811
824,219
9,415,462
1,530,504
$9,528,179
Net operating revenues,
Taxes
4,550,787
2,218.221
and
tion statement filed Juiy 20,
School,
Louis, Mo.—Bonds Offered—Dempsey-Tegeler & Co.,
Louis, Mo., early in July offered $325,000 1st mtge.
St.
St.
St.
Louis
University
Commerce
4% real estate bonds.
Dated June 15, 1936; due annually Jan. 1, 1938 through 1951.
and interest (J. & J.) payable at Mercantile-Commerce Bank &
St. Louis, Mo., trustee.
Principal
_
Trust Co.,
Gross income
Deduct—
Hire of equip.—Dr. bal.
Joint facility rents
Rents & other
charges
Fixed interest charges
Bonds in coupon form, $500 and $1,000 denoms.
Any or all bonds may be prepaid at option or maker, on any int. date prior
to maturity, bonds maturing Jan.
1, 1938 to and incl. Jan. 1, 1941 at
100K and int. and bonds maturing thereafter at 100 and int. on 15 days'
prior notice by publication.
.
These bonds are the obligation of St. Louis University, chartered as a
corporation in 1832, and are secured by a first deed of trust on the land
and building known as the Commerce and Finance Building, situated in
the City of St. Louis, Mo.
Other income.
& Finance
_
_
__
139,680
151,222
632,911
8,802,160
641,369
9,411,315
$7,609,364
$8,029,553
y
Net deficit
x
Combined corporate and receivers' accounts.
on
y
„
Exclusive of interest
adjustment
include
an
mortgage (income bonds),
z Operating expenses for 1934
accrual of approximately $292,000 of which approximately
$291,000 was charged to general expenses, made pursuant to the provisions
of the Railroad Retirement Act of 1934.
In view of the unconstitutionality
of the Act the accrual was canceled in April, 1935 accounts as required by
the accounting regulations of the Interstate Commerce Commission.
Volume
143
Financial
Chronicle
Balance Sheet Dec. 31
1934
1935
Assets—
Invested in road and equipment
1
Deposits in lieu of mortgaged property sold
Miscellaneous physical property.
Invest in affiliated
$
v$
242,519,737 240,778,337
105,008
73,060
3,500,649
3,511,059
companies—Stocks, pledged..
9,586,920
9,586,919
Bonds, pledged.
10,934,671
10,931,361
Notes, pledged.
4,445.708
4,469,925
Advances.
4,126,128
4,115,775
Other investments
2,535,338
4,394,554
Cash.
4,265,378
3,280,893
Demand loans and deposits
400,000
700,000
Time drafts and deposits
1,216,350
1,450,000
Special deposits
47,147
1,248,981
Loans and bills receivable
122,934
123,148
Traffic and car service balances receivable
751,984
699,699
Net balance receivable from
agents & conductors.
279,064
365,981
Stockholders
at their annual
meeting April 27, 1936 consented to and
authorizing the directors from time to time to grant
employees of the company and its subsidiaries (who may be
directors of the
company) privileges to purchase 200,000 shares of the stock
of the
company at $45 per share.—V. 143, p. 771.
approved
a
certain plan
to officers and
Seversky Aircraft Corp.—Earnings—
,
Earnings for 4 Months Ended April 30, 1936
Net loss after
ordinary taxes, int., deprec. & other deductions._
—Y. 143, p.
771, 442, 124.
•
'
Shawinigan Water
.
Miscellaneous accounts receivable!;—
Individuals and companies.
United States Government
Other current assets
__
1
Working fund advances
Other deferred assets
Rents prepaid
.'
Insurance premiums prepaid
Claims in suspense.
77,494
52,089
Common stock (2,600,321
shares,
Preferred 4-2% stock.
.
61,179,262
61,179,262
23,894,100
15,468,844
16,690,000
96,622,500
14,443,888
930,338
37,220
13,615,000
320,696
1,367,663
2,307,624
__
Receivers' certificates.
Non-negotiable debt
1.111
to
payable
wages payable....
Miscellaneous accounts payable..
Interest matured unpaid..
_
;
Grants in aid of construction
Funded debt matured
unpaid.
»
Unmatured interest
accrued........
Unmatured rents accrued
Other current liabilities.
Other deferred liabilities.
___•
'
__
_
Accrued depreciation on
equipment
Reserve for
outstanding stock of proprietary cos..
Other unadjusted credits.
__
Additions to property
through income & surplus..
Funded debt retired
through income & surplus...
Profit and loss, deficit
...
.
Total
1,187,447
35,350,572
13,889
30,747,619
5 998,561
847,037
28,885,639
13,889
24,283,024
5,009,524
860,273
58,046
1,042,436
1,183,460
19,871,383
49,821
958,052
902,903
■
.....
Tax accruals
24,311,600
320,696
1,370,098
2,659,954
948,763
affiliated companies
Traffic and car service balance
Audited accounts and
.....
16,252,666
19,026
5,870,602
840,937
4,205
39,517,418
19,026
5,665,094
853,715
4,205
51,649,801
.291,955,084 292,535.025
-V. 143. p. 770.
have
declared a dividend of 50 cents
per share on the
stock, no par value, payable Sept. 15 to holders of record
Aug. 31.
This compares with dividends of
45 cents per share paid in each of the
five preceding quarters;
42^ cents paid on March 31, 1935, Dec. 31 and
Sept. 30, 1934; 37 lA cents per share each
quarter from Sept. 30, 1933,
to and including June
30, 1934, and dividends of 35 cents per share dis¬
tributed previously each three
months.
In addition, an extra cash
dividend of 20 cents per share and a stock
dividend of 50% were paid on
Dec. 31, 1935, and extra dividends of 25
cents per share were distributed
on Dec. 31,
1934, and on Dec. 31, 1933.
—V. 143, p. 602.
common
Seeman
Brothers, Inc.—Earnings—
Years End. June 30—
1936
Gross earnings.
1935
Profits dedicated
Net
1933
$2,814,821
$2,882,583
$2,539,182
2,400,238
Crl7,259
& gen. exp.,
incl. prov.for inc.taxes
Inc. & loss adjust, (net).
rectors for
1934
$2,912,424
.2,299,852
2,307,313
2,205,890
Sell., adm.
by di¬
bldg. alter'n
16,044
50,000
earnings
$479,445
$498,924
$575,270
25,921
$333,292
18,734
$479,445
$498,924
100.000
378.001
$601,191
200,000
378,375
I
Net
income
Advtg.
...
approp
Dividends
378~00i
Net
surplus..
Adjustments.
Prev. capital & surplus.
$101,444
467 shs.
4,285,264
.'
$4,636,920
Earns, per sh. on 125,000
shs. of no-par cap. stk.
$4,534,947
$4,477,042
$3.99
$80,588
050,198
*
$4.81
$2.81
Balance Sheet June 30
x
1936
Fixed assets
$127,209
524,191
Cash
Marketie
$132,559
572,061
1936
2,534,947
&
326,068
& misc. payables
482,405
482,405
Accounts payable.
Com. & other accr.
own
capital stock...
notes
1,206,424
Post-dated checks.
2,182
Inventory
2,327,434
1,127,851
4,201
Accr.
2,224,848
Divs.
Deferred and other
assets..
&
est.
128,449
1
1
Goodwill
payable
Mar. 26
Apr. 23
May 21
June
-
18....'
July 16..
Aug. 13
-
mtge. 4% serial real estate notes.
.
Secured by deed of trust on
property known as Convent of Our Lady of
the Precious Blood and The Maria-Joseph Home for the
Aged, Salem Heights,
Dayton, Ohio. Valuation of real estate security, $1,080,000.
Dated July 1, 1936; due serially
Aug. 1, 1937-1951.
Payable at Mer¬
cantile-Commerce Bank & Trust Co., St. Louis,
Mo., Trustee.
Notes in
$1,000 and $500 denom., callable at 100 and interest.
The Sisters of the Precious Blood, of
Dayton, Ohio, were established in
the United States in 1844.
The Order, with 680
professed sisters, 38
novices, and 17 postulants, is represented in 1 archdiocese and 7 dioceses
The Sisters are engaged
principally in teaching.
The proceeds of this loan will be used to refund a like amount of indebted¬
bearing
a
higher rate of interest.—V. 126,
p.
3775.
•
(A. O.) Smith Corp.—-New Officers—
At
a
meeting of the board of directors L. R. Smith
was
elected Chairman
of the Board, W. C.
Heath President and J. M. Floyd Vice-President in
Charge of Manufacture and Engineering.—V. 142, p. 3692.
Southern Canada Power Co.,
Period End. July 31—
Gross earnings
.*
expenses
Ltd.—Earnings—
1936—Month—1935
$175,563
$171,014
77,583
72,042
Net earnings—V. 143, p.
$97,980
$98,972
1936—10 Mos.—1935
$1,785,706
$1,770,448
740,031
710,610
$1,045,675
$1,059,838
1091.
Southern Colorado Power Co.—Accumulated Dividend—
100,000
i*
The directors have declared
a dividend of $1
per share on account of
on the 7%
cumulative preferred stock, par $100, payable
15 to holders of record Aug. 31.
A similar amount has been paid
this issue quarterly since and incl. June 15,
1933, as against $1.25 per
on
March
15,
1933. and $1.75
per
share in preceding
12 Months Ended June 30—
adjustment
7,709
7,500
$808,285
677
536
$875,434
273,920
$808,822
207,662
$601,159
427,264
3,815
$170,079
139,680
$309,760
170,079
$139,680
$139,680
1935
Net oper. rev.
10,000
& other inc. (before approp. for
retirement reserve)
Appropriation for retirement reserve
Gross income
Intrerest charges (net)
Other income deductions
Net income
1934
$874,757
$309,744
170,064
-
$1,862,988
1,054,702
$170,064
139,680
Net oper. rev. (before apprp. for retire, res.)...
Other income-
50,000
2,500
quarters.
1936
$2,036,888
1,162,130
$601,514
427,346
4,103
Operating revenues
Operating expenses, maintenance & all taxes
—
1933
Listing—
The New York Stock Exchange has authorized the
listing of 200,000
shares of capital stock (no par) on official notice of issuance to the
Treasurer
Principal and interest
(The) Sisters of the Precious Blood, Salem Heights,
Dayton, Ohio—Bonds Offered—Metropolitan St. Louis Co.,
St. Louis, Mo., are
offering at 100 and int. $340,000 1st
•
$25,541,825 $23,147,066 $20,395,895
$15,826,847
33,965,053
29,007,986
22,362,353
14,215,630
— 36,034,157
31,435,278
23,731,274
18,519,608
41.450.978
32,171,804
27,485,073
21,050,502
40,697.901
32,294,789
25,023,393
19,935,951
39,841,752
30,065,381
21,641,512
19,442,052
33,765,215
24.587,644
20,284,116
19,179,932
of the companyf as trustee, and
1936; due Oct. 1, 1939 to 1956.
servatively valued at $1,000,000.
The proceeds of this issue will be used
to redeem the balance of an
original issue of $600,000 blA% first mortgage bonds, dated April 1, 1930,
to be called for
payment Oct. 1, 1936, and to retire bank loans incurred for
the building of the new nurses' residence at St.
Joseph's Hospital (Sunnyside), Toronto.
on
Reserve for merch.
1935
Syndicate, Inc.—Registers with SEC—
by a first and specific
mortgage on the new wing and the recently completed nurses' residence of
St. Joseph's Hospital
(Sunnyside), Toronto, which buildings are con¬
share
67,500
for
1936
3523.
Diocese of Toronto.
These bonds are the covenant of the Sisters of St.
Joseph for the Diocese
Toronto, whose assets total $8,644,136, with liabilities of $1,819,594
(as at July 31, 1935). In addition they will be secured
83,724
Sears, Roebuck & Co.— ■Sales—
4 Weeks Ended—
Feb. 26
$712,053 after
cents a share.—
.
*114,048
67,500
Total
.$5,083,404 $4,998,443
depreciation of $412,152 in 1936 and
$420,481 in 1935, and mortgage payable of $54,000 in 1935 and
1936.
y Represented by 125,000 shares of no par value.—V.
142, p. 3523.
reserve
was
accumulations
$5,083,404 $4,998,4431
deducting
1936
Sept.
53,889
Fed.
& State taxes...
alteration
After
June 30,
The
96,088
Res. for legal exp.
& unset'd claims
x
$0.09
months ended
congregation of the Sisters of St. Joseph was founded at Le Puy,
France, in 1650, and first established in Canada at Toronto in 1851.
The
Sisters of St. Joseph for the Diocese of Toronto in
Upper Canada were
incorp. in 1855 by an Act of Legislature of the then Province of
Canada,
and are engaged in hospital, educational and
charitable work, mainly in the
44,796
Prof, dedicated by
direct, for bldg.
Total.
$0.34
depreciation, but before depletion, equal to 58
Dated April 1,
44,485
74,152
Advertising approp
110,486
$121,389
$0.05
(A. & O.) payable at principal office of a Canadian chartered bank in
cities of Toronto, Montreal or
Quebec.
Callable as a whole or in part at
any time on two months' notice at 101 and interest.
Denoms. $1,000,
$500 and $100.
Trustee, Capital Trust Corp., Ltd.
Legalinvestment for
life insurance companies in Canada.
86,089
liabilities
receivable
$411,612
$0.17
dep.
303,071
Corporation's
$64,433
stock.__
12
1936—6 Mos—1935
$205,248
1935
Capital stock...$2,000,000
$2,000,000
Surplus.
2,636,920
time
1936—3 Mos.—1935
(The) Sisters of St. Joseph for the Diocese of Toronto
Upper Canada—Bonds Offered—Harris, MacKeen, Goss
& Co., Toronto,
Ont., recently offered $509,000 4% 1st
mtge. bonds at 100 and interest.
y
Sundry
$1,223,330
in
Operating
Liabilities—
&
secur.
interest
Accounts
1935
$1,422,614
See list given on first
page of this department.
$4,416,051
$3.84
Assets—
com.
Silver
271", 438
$22,816
Cr38,175
4,416,051
Balance, surplus
$1,558,459
in the United States.
$20,924
Cr36,981
4,477,042
0529
$1,647,631
King Coalition Mines Co.—Earnings—
Net profit for the
taxes and
V. 142, p.
ness
4,534,947
...
bl,756,398
Period End. June 30—
Net profit after taxes &
deprec. but bef. deple.
Earns, per sh. on
1,220,-
$352,026
Miscellaneous income.
2,068,593
of
Scott Paper Co.—50-Cent Dividend—
The directors
50,000
2,021,654
exchange of $100,615.
d Includes
$62,164 amortization of bond discount and
premium.—V. 143, p. 443.
37,300
.
d2,020,561
& income taxes
1,012,933
23,894,100
Preferred 6% capital stock.
37,300
Equipment obligations
4,618,048
Mortgage bonds proprietary companies
16,690,000
Seaboard Air Line bonds
96,622,500
Secretary of Treasury of United States—Notes...8,367,178
Union Switch & Signal Construe.
Co. def'd pay't.
930,338
Other miscellaneous
obligations
-
a
After deduction of
$300,000 representing charge on capital cost of
work under
construction, but eliminated from gross revenue in the annual
report for 1933.
b After deducting $300,000 as above nbted
(not de¬
ducted in 1933).
c
Includes U. S.
292,535,025
value)...
50,000
1933
$5,942,569 a$5,687,744
1,128,945
1,058,453
760,937
c855,225
.
180,990
167,412
327,837
341,422
52,653
285,504
Surplus before deprec.
Silver
no par
1934
$6,276,715
1,325,121
788,296
193,893
339,290
chgs.
10,568
61,906
336,132
62,602
291 ,955,084
...
407,610
Reserve for exchange-..
Fixed charges
47
47,512
907,594
Other unadjusted debits
Total.....
rentals.203,702
Taxes and insurance-.i.
U. S. exch. on fixed
Co.—Earnings—
1935
^
816,252
563,554
17,284
3,929,740
422,024
101,458
...
764,252
351,516
22,160
3,291,743
478,738
4,831
36,629
52,596
439,046
62,692
& Power
6 Mos. End. June 30—
1936
Gross revenue$6,658,489
Gen. op. & maint.
exp..
1,452,015
Power purchased
876,969
Water
.'<•
Other companies for claims
Materials and supplies.
Interest and dividends
receivable...
Rents receivable
_i
$3,905
.
.
.
1247
company and its subsidiaries, making the total amount
applied for 5,139,762
shares.
delivery to officers and employees of the
Surplus, beginning of period
Total
Dividends
on
preferred stock
Surplus, end of period
—V. 143, P. 444.
Southern Natural Gas Co.—Interest
The company will make
mortgage bonds on Oct. 1.
Payment-—
semi-annual payment on its 6% adjustment
This payment will be the first on these bonds
a
since the company was
brought out of
be for the six months ended
receivership on Jan. 1, last, and will
July 1.—V. 142, p. 4191.
Financial
1248
1936
22,
Aug.
Chronicle
Consolidated Balance Sheet June 30
Lines—Earnings—
Southern Pacific
$13,981,303$107,386,430 $89,615,800
10,664,609 81,930,364 70,062,463
l'l|o'n§§
I'?!•$'£;$
753,987
5,073,481
4,110,240
21,706
417,397
173,082
Railway oper. revenues_$17,149,395
Railway oper. expenses- 12,852,518
Railway tax accruals
*973,613
Equip, rents
904,418
43,844
Joint facil. rents
a
$2,375,000 $1,392,561 $12,179,870 $8,050,564
Before deprec
3,020,540
2,055,954 16,769,318 12,488,169
*
Includes credit of $116,380 for month and $232,761 for period due to
reversing in months June to December, 1936, $814,664 accrued to May 31,
1936, under Railroad Retirement taxing act declared unconstitutional.
772.
Associated Telephone Co.—Eaminas—
31— 1936—Month—1935
1936—7 Mos.—1935
$77,260
$69,190
$545,818
$481,369
rev^
100
100
700
1,200
48,807
46,140
339,223
314,060
5,748
4,295
34,600
30,298
Southwestern
Period End. July
Accrued
accr.
rec.
1,846,906
interest, &c
Contracts
1,707,938
& work
progress,
ventories, &c
3,115,517
3,086,602
34,329
36,781
Life ins. policies
..
equlpm't 2,410,844
charges187,213
$135,811
$171,295
$18,655 .
$22,605
operating income
604.
Net
•
.
& Electric Co.—Earnings—
1936—6 Mos.—1935
$1,587,091 $1,419,024 $3,065,691 $2,789,763
346,956
347,263
664,131
659,902
100,635
96,433
204,064
193,758
42,320
34,886
108,134
88,181
76,852
88,559
158,543
168,481
172,487
155,967
346,106
314,343
al51,943
158,781
a292,105
325.430
1936—3 Mos.—1935
Total oper. revenues--.
Operation.
purchased
purchased
Power
Gas
Maintenance
Provision for retirement.
Taxes.
Net operating
$1,039,667
17,939.
$1,292,605
18,170
$537,133
9,167
$695,895
8,786
income
Other income (net)
168,022
7,601
118,995
23,107
of for'n
appreo.
50,000
1
84,053
for unrealized
66,385
58,752
Capital stock— 1,949,111
Capital surplus..- 3,664,248
Earned surplus—- 4,706,166
1,949,111
3,664,248
2,207,152
exchange
.
c
14,191,952 10,098,898
Par value $1. d 91,732 shares
($653,590 market quotations),
$206,397; 365,951 shares Curtiss-Wright Corp. common stock at cost
($823,390 at market quotations), $594,670, other listed securities ($663,911
14,191,952 10,098,898 1
Total
c
Corp.
Curtiss-Wright
market
Total
b After depreciation.
A stock at cost
After reserves,
a
Southwestern Gas
Period End. June 30—
250,414
guar¬
_
Patents & develop¬
j.
198,969
Install,
anteed
products
50,179
2,149,990 Deferred income.
107,643 Res've for conting.
ftes.
purchased
487,278
1,807,253
&
service
b Plant &
Patents
473,581
sales
on
for
Prov.
receivable,
ments
475,S82
payable
contracts
498,651 dl,482,447
non-current
294,987
income
stock taxes
Divs.
Deposits
1,066,841
contract
Investments
Acc'ts
489,638
455,856
payable.
royalties,
taxes, Ac.
for
$
690,040
franchise & cap.
Operating expenses
Operating taxes.. —.—
—V. 143, p.
wages,
rrov.
in¬
in
Deferred
Operating revenues
Uncollectible oper.
Accounts
Notes acceptance
accts.
1935
$
Liabilities—
1,479,767
Dep. on purchased
N^tS-edepnrecm_eI
—V. 143, p.
4,979,197
Cash
1936
1935
1936
Assets—
1936—7 Mos.—1935
1936—Month—1935
Period End. July 31—
deposited under workmen's
quotations), $603,704; bonds at cost,
cost$47,-
compensation insurance laws,$30,393;miscellaneous investments, at
282. e Bonds ($228,821 at market quotations), $230,100; stocks, $489,175 at
market quotations), $225,535 (includes 1,900 shares of class A and 20,000
shares or common stock of Curtiss-Wright Corp.), and bonds deposited
workmen's compensation insurance
under
Month Of
laws $43,016.—V. 143, p.
772.
Inc.—Sales—
Spencer Chain Stores,
1935
$662,586
1936
July—
$765,401
sales..,
Combined factory and retail store
143, p. 125.
—V.
&
expense
bonds
:
■
on
re-
company's
purchased
31,545
102,317
15,706
51,263
,
9,227
3,223
Net income before pre¬
$502,896
334,147
$779,136
309,211
$437,582
154,605
Balance--.-
$269,860
167,073
$282,976
Pr€f. stock dividends—
$102,787
$469,925
$168,749
in 1936 for Federal surtax
■
It is estimated that there will be no liability
undistributed profits.—V. ,142, p. 3013.
a
Southwestern Light &
Period End. June
purchasedpurchased..
Power
Gas
1936—6 Mos.—1935
Provision for retirement.
.—
.
1,697
Gross income
Funded debt interest—
General interest
»
$117,426
100,555
4,413
<
124,497
141,313
62,327
137,114
131,815
$293,624
4,290
$384,223
178,643
9,475
$297,914
204,099
8,883
11,849
Or708
63,820
135,565
x$151,800
$114,867
2,559
$135,457
88,595
4,748
$133,760
Net oper. revenues...
Other income (net)"
208,672
$381,308
2,915
33,864
69,344
58,955
-
$1,099,366
$1,250,926
225,122
131,151
162,158
$492,770
104,457
62,786
48,495
35,782
69,280
x67,270
Maintenance-
Taxes
Power Co. (& Subs.)—Earnings
$530,791
113,327
65,366
46,004
Operation
,
Amortization of debt .dis¬
5,147
Cr 144
construe'n_
5,838
Cr286
10,377
Cr341
$37,111
count and expense-—
Int. charged
$6,905
$186,068
Net income before pre¬
ferred
x
No
dividends—
provision has been made for Federal surtax on
3870. -
$73,790
undistributed profits.
—V. 142, p.
Southern Pacific Co.—Listing—
authorized the listing of $60,000,000
1936, due July 1, 1946 (see offer¬
The New York Stock Exchange has
10-year 3M % secured bonds dated July 1,
ing in V. 142, p. 4037),—V. 143, p. 772.
Southern Ry.—Earnings—
of August—
Jan. 1 to Aug. 14
1935
1936
1935
$1,988,444 $75,480,429 $64,352,998
—'Second Week
1936
Period—
$2,426,336
Gross earnings,
—V. 143, p. 1091.
Sperry Corp.—Report for 6
Months—
portion of
holdings in the stocks of Curtiss-Wright
Rather than
Corp.
number of shares on the market,
their disposition over a period of
months.
To accomplish this, a New York Stock Exchange firm was
employed under agreement dated Sept. 23, 1935 on the following basis:
It was entitled to purchase the shares from the company at approximately
the Sept. 23, 1935 market prices, provided that whenever the resale price
of any shares so purchased exceeded a figure somewhat above such Sept. 23,
1935 market price the company should receive a portion of those profits.
Standard Capital Co. (of which J. Cheever Cowdin, a director is president
and a director, and George Armsby, a director was interested with the
New York Stock Exchange firm in this transaction, and entitled to share
in its profits.
All of the shares included in the agreement were sold.
As a
result, the company disposed of 82,532 class "A" shares and 328,951
common shares of Curtiss-Wright Corp., and realized therefrom the sum of
$1,803,375, of which $1,083,132 represented profit over cost on the com-
8any's books. Of this profit, $281,580 was realizedof $801,553 was realized
reported for that year, and the remainder in 1935 and included in
icome
is included in the income account for
Of such total realized profit of $1,083,133, the sum of $277,271 was the company's portion of the profits
realized on resale of the shares included in the above arrangement.
Standard
Capital Co. realized and retained a profit of $92,528 from the entire trans¬
action.
Apart from the sale completed through the arrangements mentioned
above, company sold in the market in 1936, 7,300 shares of class A stock
and 17,000 shares of common stock of Curtiss-Wright Corp.
On July 29, 1936, the directors declared a dividend of $1 per share,
payable Aug. 20, to the holders of voting trust certificates of record Aug. 10.
subsequent to the first of the year and
the six months ended June 30, 1936.
Consolidated Income Account (Incl. Sub. Cos.)
Depreciation.
Selling and gen. expenses
Research & development
1935
1934
$1,598,816
85,322
454,049
$1,233,548
66,737
442,435
145,286
113,453
89,851
$634,525
$290,186
90,949
383,677
92,643
$1,036,942
$1,018,202
$382,829
1,124
Interest
*
------
and
42,128
212,721
miscell. expenses
Provision for taxes
•
>
Net income.
■
■
■
■
$1,657,305
17,765
209,425
'
.
'
'
■
17,097
14,392
129,065
'
i
■
-■
i
-
45,516
„
„,
„
$874,745
$319,092
$90,138 in 1936; $93,173 in
$809,752
royalties:
$33,256 in 1933.
income from patent
1935, $67,187 in 1934 and
of Tennessee Corp.
$600,000 of the bonds of series C will be sold for cash to investors to sup¬
ply a part of the cash required to be expended in connection with the
acquisition of the aforementioned properties of Ducktown, and a lease of
certain mining property in Polk County, Tenn., known generally as the
School lease.—V. 142, p. 3695.
Standard Gas & Electric
Co.—Weekly Output-
Electric output for the week ended Aug.
15, 1936, totaled 103,654,936
with the corresponding week
Indiana—Earnings—
1935
1936
6 Mos. End. June 30—
Net profit after deprec.,
depl., Fed. income &
profits taxes, & all other charges
x$22,015,537
Earns, per sh. on 15,215.677 shs. cap. stk. (par $25)
$1.45
excess
x
936.
$13,191,166
$0.87
earnings.—Y. 143, p.
Before provision for surtax on undistributed net
'
Standard Oil Co. of Ky.—To Pay Larger Common Div.—
The directors on Aug. 19 declared a dividend of 35 cents per share on
the common stock, par $10, payable Sept, 15 to holders of record Aug. 31.
Previously, regular quarterly dividends of 25 cents per share had been
distributed.
In addition an extra dividend of 25 cents was paid on March
15, 1935 and an extra of 50 cents was paid on Dec. 15, 1934.—V. 142, p.
3527.
*
Sterling, Inc.—Earnings—
and allowances)
Operating expenses
604,074
$1.109,007
$1,057,425
860,631
15,922
-
Provision for depreciation
40,983
44,730
$270,159
00'oCq
Total income
Income deductions
1,828
20,753
---—
Net income
dividend
on
on
on
share
common
stock--.
$U.4»
shares outstanding May
Balance Sheet, May
Assets
x$0.48
31, 1936.
31, 1936
Liabilities—
receivable
Merchandise inventories
$152,586
1,521,919
190,703
Other assets
34,393
Fixed assets
214,697
Insurance prems.
unexpired.
Prepaid expenses
Organization expense
Total.
$247,577
io'qv^
preferred stock
on common stock
common
Cash hand and in banks
Accounts
22,0/0
.
^Qos'nnn
-------
Stock dividend
per
12,10/
$225,429
$273,438
Other income
Based
,
$232,454
Operating profit--
Earnings
$1,661,499
656,966
Gross profit
Cash
1935
1936
$1,765,974
Years Ended May 31—
Sales (less discounts, returns
Cost of goods sold
30,193
$945,992
1,144,588
legal
held on July 9, 1936, authorized the cor¬
poration to execute and deliver a supplemental indenture of trust to City
Bank Farmers Trust Co., as successor trustee, securing the issue of $1,641,300 of bonds of series C, of which $1,600,000 will be issued.
The corporation is acquiring certain of the assets and properties of Ducktown Chemical & Iron Co; (Del.), and upon passing of title to these proper¬
ties will also acquire for cash from Fremkir Corp. a lease of a certain mining
property in the Ducktown Basin.
To consummate these two transactions,
Tennessee Corp. will issue the $1,600,000 series C bonds and make the re¬
mainder of the required payments in cash upon the following basis:
$1,000,000 of bonds of series C, $620,000 in cash and a further sum in
cash equal to the value of the inventories acquired, will be delivered to
Ducktown Chemical & Iron Go. under an agreement of reorganization dated
July 24, 1936 between Ducktown and Tennessee Corp., which provides,
among other things, for the acquisition by Tennessee of all of the assets
of Ducktown of every nature and description, except only its cash on hand
and its outstanding accounts, consisting of notes and accounts receivable.
Of the cash payable to Ducktown, $250,000 thereof has been deposited
under an escrow agreement.
Tennessee Corp. will not assume any of the
liabilities of whatsoever nature of Ducktown, except certain sales contracts
and contracts for services.
A special meeting of stockholders of Ducktown
was called for Aug. 18, to vote upon such sale of properties and the dissolu¬
tion of Ducktown.
Security holders of Ducktown will receive in liquidation
among other considerations the $1,000,000 6% debenture bonds, series C,
x
$1,912,156
Gross income
Includes
$588,023
38,884
228,759
$767,568
w__
Other income
x
1933
1936
Operating income
1
4 Months
6 Months
6 Months
6 Months
fees,
at a meeting
The directors,
of a total authoriezd issue
$3,358,700 was originally
Provision for Federal income and excess profit tax.
$1,504,447
109,009
482,583
Period End. June 30—
Gross inc. from opers__
Transfer
applied for $1,600,000.
The $1,600,000 bonds of series C form a part
to not exceeding $5,000,000, of which
issued as bonds of series B.
Standard Oil Co. of
President, says in part:
1935, decided to liquidate the greater
attempt an immediate sale of this large
arrangements were made looking toward
expenses.
of $600,000'
due March 1, 1944, upon official
$1,000,000 l5-year 6% debenture
bonds, series C, due March 1, 1944, upon official notice of issuance in con¬
nection with the acquisition of certain assets, property, business and good¬
will of Ducktown Chemical & Iron Co., making the total of series C bonds
last year.—V. 143, p. 1092.
Directors in September
x
Exchange has authorized the listing
kilowatt hours, an increase of 19.1 % compared
Thomas A. Morgan,
company's
Corp.—Listing—Acquisition—-
The New York Stock
15-year 6% debenture bonds, series C,
notice of issuance and sale for cash; and
limited
1936—3 Mos.—1935
30—
Total oper. revenues—
3525.
Tennessee
'
$18,522
$20,666
$131
$17,206
profit
—V. 142, p.
1936—6 Mos—1935
1936—3 Mos.—1935
Period End. June 30—
Net
'
——
ferred dividends
on
Springfield Street Ry.^-Earnings—
498,867
15,069
,
u
count & expense
Discount
$1,057,607
$1,310,776
409,999
19,321
$546,300
248,790
8,719
$704,681
205,000
10,835
Gross income---—
Funded debt interest...
General interest
Amortization of bond dis-
1.,
*
—V. 143, p. 1092.
Accounts
Accrued
$67,171
40,643
payable
liabilities
Other current liabilities
9,708
600
Deferred credits
$1.50 cum. conv. pref.
($1
stock-
par)
900,000
400,000
5,802
Common stock
2,601
Surplus
717,346
Total
$2,135,469
12,766
$2,135,4691
Volume
143
Financial
Standard Oil Co. (Kan.) (&
Chronicle
Subs.)—Earnings—
[Including Coastal Plains Oil Corp.]
Earnings for 6 Months Ended June 30, 1936—
Gross
206,153
_
Operating income
Depreciation & depletion
Texas Pacific Land Trust—Shares Canceled—
$396,429
62,117
119,155
66,192
Amortization & intangible development costs
Leases & royalties expired
Profit
The New York Stock
Exchange has received notice from the Corpora¬
Co., transfer agent for the sub-share certificates for sub-shares
in
certificates of proprietary interest issued under declaration of trust
dated Feb. 1, 1888 that
they have canceled 7,000 of said sub-shares as of
Aug. 18, 1936, making a total of 4,083 shares of proprietary interest and
1,309,689 sub-shares of stock of the above company issued and outstanding
tion Trust
$148,965
4,590
Other income.
Total income
Interest paid..
Federal income
*
;
;
145,442 shs. cap. stk. (par $10)
$129,757
$0.89
-
—V. 142, p. 3528.
Aug. 18, 1936—V. 142,
Investing
Registration—
Co.,
Inc.—Removed
Listing
from
Sales of
1936
1934
60,752,755
236,086
1,195,965
57,058,736
1,588,539
1,067,606
15,165,526
70,033,962
16,757,947
14,184,193
6,840,716
3,960,600
12,338,525
62,184,807
19,168,985
14,833,988
13,341,124
5,454,850
9,385,859
59,714,882
15,068,036
20,131,978
12,225,000
4,605,753
7,334,495
20,526,719
15,951,980
Interest and dividends-.
and
2,251,972
1,244,181
Total income-,76,977,012
Generating expenses--17,707,738
Int.
listing and registration
12,476,339
7,298,616
3,802,073
Business expenses
*
Other deductions-------
1936
1935
Oper. inc., oil and gas and refinery sales
$1,892,285
Oper. and admin, exps. and cost of refinery sales
(incl. gross production taxes)
1,158,530
Net profit-
$1,376,052
—
Balance Sheet
787,046
$733,755
$589,006
adding other income and after
reserves for depletion, depreciation
and income taxes, and after
allowing for dividends on preferred stock
retired prior to June 30, 1936, amounted to
$258,676, equal to 13^ cents
per share on 1,910,248 shares of common
stock, compared with $160,198
or 10 cents
per share on 1,583,401 shares of common stock
outstanding in
the corresponding period of
1935.
The company'8 new
5H% cumulative preferred stock was not outstand¬
ing during the first six months of 1936.—V. 143, p. 10b3.
Assets—
1936
1935
Liabilities—
Fixed assets less
depreciation. ,769,838,260 765,307,870
Inv. In securities
29,073,959
28,941,569
Bills receivable.,
252,063
56,519
Mat'ls & supprs
4,180,124
4,578,832
Receivables
11,521,983
11,568,983
Cash In banks..
3,569,107
5,873,756
■
Unamort.
debt
disc. & exps._
Inv. in affil. co.
Co.—Larger and Extra Dividend—
31,183,265
63,620,487
5,258,562
Suspense pay'ts_
The directors on
Aug. 18 declared an extra dividend of 20 cents per share
and a quarterly dividend of 40 cents
per share on the common stock, par
32,174,901
bi-monthly periods.
_
Prov.
x
.
It was indicated that the move involves no
changes in personnel and that
operations formerly devolving on separate subsidiaries will be carried out
by separate departments or units.
Since no public holdings of securities will be involved in the
changes,
according to the reports, consummation of the program will be readily
accomplished without presenting formal reorganization plans to the public.
The transaction will greatly simplify
accounting, especially with respect to
Federal
tax
Timken Detroit Axle Co.
G Mos. End. June 30—
1936
Gross profit on sales
$2,549,383
Expenses-
1,121,197
Operating profit
Prov. for bad debts, &c_
Loss on plant assets.
-
-.
1935
$1,944,998
1,142,338
$1,514,728
34,7*7
16,369
$874,585
12,908
25,979
187
2~ob~666
6,820
27,709
375,688
22,690
~35",288
360,074
14,366
57,088
.
Federal and State tax
$671,915
1,073,291
$709,716 loss $350,493
38.171
98,605
351,233
1,462
85,000
Special res've for closed
bank claims
Special
loss
for
res.
on
250,000
possible
com.
Earnings
of
Michigan only.
Transfer agent, National Bank of Detroit, Detroit, Mich.
Capitalization (upon completion of Financing)
Common
stock
(par
Authorized Outstanding
.--100,000 shs. 75,000 shs.
$1)_
Corporation—Incorp. in Michigan July 15, 1936.
Corporation had had
granted an exclusive franchise for the State of Michigan from the manufac¬
turers covering the handling, distribution, sales, rental, &.c, of "Ozark"
trailer coaches, of both pleasure and commercial models.
Proceeds—Sale of 75,000 shares at $1 per share, $75,000; selling
Russell.
C.
Transue & Williams Steel
Forging Corp.—Extra Div.—
The directors have declared
an extra dividend of 5 cents
per share in addi¬
quarterly dividend of 15 cents per share on the common
stock, no par value, both payable Oct. 1 to holders of record Sept. 15.
A
dividend of 15 cents per share was distributed on July 1 last, this latter be¬
ing the first payment made since July 15, 1931, when a regular quarterly
dividend of 25 cents per share was paid.—V. 143, p. 446.
tion to the usual
Truscon Steel
Co.—Earnings-—
Period End. June 30—
„
1936—3 Mos.—1935
Net profit after deprec.,
Fed'1 taxes, &c—,
1936—6 Mos.—1935
$386,414
loss$3,461
$320,216 loss$161,538
Note—This being a report for an interim period, is subject to year-end and
other adjustments, to annual audit and to final determination of Federal
surtaxes on undistributed profits.—V. 142, p. 3530.
Development Co.—Registers with SEC—
See list given on
first page of this department.
131,568
$397,425
87,607
$309,818
980,000
$0.31
$107,752 c$l,531,003
Union Pacific
$204,729 x$l,450,062
96,977
80,941
$819,160
System—Earnings—
-
[Excluding offsetting accounts between the companies]
6 Months Ended June 30—
stk. (par $10)per
share
980,000
$0.84
Note—No provision was made for Federal surtax
980,234
$0.11
on
980,234
Nil
The directors have declared
an extra
a
-
Passenger...
dividend of like amount
—
-
Mail--
undistributed profits.
quarterly dividend of 25
1936
Average miles of road operated
Revenues—Freight
All
-
cents
other—------------
-
1935
9,826,12
9,850.78
__$53,567,443 $47,430,478
6,323,441
4,735,500
2,258,239
2,180,079
Express
Common Dividends Resumed—Extra Dividend—
in addition to
agents'
commission, 15%, $11,250; incorporation costs (est.), $1,500; net working
capital (est.) for purposes above specified, $62,250.
Directors—H. M. Saddlemire, Carl A. Neracher, O. H. Anderson, John
186,489
$904,095
84,935
Surplus
Shs.
to residents of the State
Tulsa Oil
^
Other special reserves._
Net profit
Preferred dividends.
$3,000,000 4s—
Trailer Coach Sales Corp.—Stock
Offered—1Grady & Co.,
Detroit, recently offered 75,000 shares of common stock
at $1 per share.
The shares are offered as a speculation
doubtful accts.,
&c
142, p. 473.
$3,000,000 6-year
L. Bender and R.
$613,925 loss$401,376
95,791
50,883
578
359,280
Loans only.—V.
par
1933
$1,766,217
1,152,292
71,925
expenses
1095.
1934
•
$802,660
deductions
Deprec. and amortiz
p.
(& Subs.)—Earnings—
86,542
Total income
Interest
143,
$1,428,186
Other income
Miscell.
laws.—V.
15,951,980
issue and sell
4% bonds.
Pending their sale the bonds were
authorized to be pledged as security for a 5-year 4% note dated
Aug. 1,
1936, for $3,000,000—V. 142, p. 1835.
organized,
new
20,526,719
918,497,812 917,227,935
The Ohio P. U. Commission has authorized the
company to
at
(Del.)—Organized—
under Delaware laws, a wholly owned
subsidiary titled the Tide Water Oil Co. (Del.), in connection with an
internal corporate rearrangement of certain assets and
operations.
The nature of the developemt is to make the new
company an operating
concern owning
directly the assets of certain wholly owned subsidiaries of
this company.
Companies whose properties are absorbed are expected to
be dissolved eventually.
-
the
3,800,208
7,633,629
for
Total
Toledo Edison Co.—To Issue
Tide Water Oil Co. (N.
J.)—Organizes Subsidiary for
Rearranging Assets and Operations—
taxation under
..918,497,812 917,227,935
.
3 ,800,208
profit
the term
Total
22,500
13,465,772
11 ,732,855
suspense
See Tide Water Oil Co., below.
has
137,200
15 ,695,544
exchange
Surplus
Net
directors
company
135,439
_.
For'n
For detailed record of dividend
1,500,000
2,924,378
154,655
deb.
redemption
Suspense rec'ts.
have declared a dividend of 35 cents per share on the
capital stock, payable Sept. 15 to holders of record Aug. 31.
Previously,
regular quarterly dividends of 25 cents per share were distributed.—V. 141,
p. 3876.
The
4 ,500,000
3 ,214,399
divs.
Unclaimed
Sylvania Industrial Corp.—Dividend Increased—
Tide Water Oil Co.
red.
on
of foreign bds.
fayments see June 12, 1936 issue of "Industrial Number" of "Raiiway&
ndustrial Compendium."—V. 143, p. 1094.
The
for future
losses
Unclaimed
dividends of 10 cents per share every two months from Feb. 28 to Dec.
23, inclusive.
In addition, extra dividends of five cents per share were
paid in each of the first four bi-monthly periods, and an extra of 10 cents
429,562,000
380,396,428
Accts. payable.
2 ,788,204
2,742,548
Accrued interest
,057,430
10,160,967
L'ns & bills pay.xl5 ,750,000
22,181,804
Legal reserve... 21 901,000
20,181,000
Special reserves.
6 000,000
6,000,000
Empl. ret. res've
703,731
550,064
Deposits.
Quarterly divi¬
dends of 25 cents per share in addition to an extra of
five cents were paid
on June 30 and March
31, last.
During 1935 the company had paid regular
1935
1936
Share capital...429 ,562,000
Bonds & debs..372 ,993,081
63,043,143
5,682,357
$10, both payable Sept. 30 to holders of record Sept. 15.
in each of the next two
349,617
May 31
(C urr ency—J apanes e Yen)
operating income
Net applicable to the common stock after
deducting for interest, abandonments,
Sutherland Paper
loans &debens_-
Depreciation
Sunray Oil Corp. (& Subs.)—Earnings—
Six Months Ended June 30—
on
1
■
1935
67,495,449
1,455,621
1,082,890
electricity-73,480,859
^
The New York Curb
Exchange has removed from
the common stock, no par.—V.
142, p. 2172.
Net
3872.
(In Japanese Yen)
6 Mos. End. May 31—
„
Otherincome.
Sun
p.
Tokyo Electric Light Co., Ltd.—Earnings—
11,390
12,408
taxes
on
of
as
$153,555
Net income.
Earns, per sh.
M. A.
Phillips, 50 Broadway, New York, in exchange for new securities.
—V. 141, p. 3240.
$602,582
Costs & expenses
1249
Holders of present first
mortgage 6% bonds and interest coupons apper¬
taining thereto, due April 1,1934 and subseequntly, and transferable
receipts
representing such bonds and coupons, are requested to surrender them to
„-----
1,030,834
2,501,138
921,103
2,119,576
per share
the common
stock, both
payable Sept. 21 to holders of record Sept. 10.
These will be the first dis¬
bursements made on the common stock since April
1, 1931 when a dividend
of 20 cents per share was paid.—V. 142, p. 4041.
on
Tacony-Palmyra Bridge Co .—50-cent Dividend—
Total
$65,681,095 $57,386,736
Expenses—Maintenance of way and structures-__
8,408,916
7,771,795
Maintenance of equipment
13,846,427
11,804,288
Traffic
1,977,506
1,691,560
Transportation
22,470,611
20,043,151
All other
4,636,725
3,555,104
-
-
-
Directors have declared
a dividend of 50 cents
per share on the class A
stocks, no par value, payable Sept. 30 to holders of
15. This compares with 25 cents paid on June 30 and March
10, last; dividends of 50 cents per share paid in September and December of
1935 and 1934; 25 cents distributed in March and June of 1935
and class B
Net revenue from operations
common
record Sept.
and
and Dec. 30,
1933
1933; 50 cents on
1934
50 cents per share on Sept. 30, 1933; 25 cents June
30,
March 31, 1933, and 75 cents per share each
quarter
from Sept. 30, 1930, to and including Dec. 31, 1932.—V.
143, p. 605.
and charges
Income from investments and other sources
Total
income--.
Fixed and other charges.
Net income from all sources.
Following court approval of the amended reorganization plan of the
G. F. Bauman, Treasurer announces that new securities exchange¬
able for first mortgage 67 bonds, due 1945, are expected to be
ready for
delivery on or about Aug. 28.
For each $1,000 of the present bonds, holders will receive
$1,000 of new
first mortgage bonds, due Sept. 1, 1951, 10 shares of new common stock of
the Texas Gas Utilities Co. and a voting trust certificate
representing two
shares of common stock of Texas Gas Distributing Co.
company,
.
x
Net
-
-
$4,965,017
5,616,826
$4,220,580
6,882,488
$10,581,843 $11,103,068
7 ,605,324
7,529,220
-
Exchanged
for Old Bonds—
Other operating income
Net income from transportation operations.
;
Texas Gas Utilities Co.—New Securities to Be
$14,340,910 $12,520,838
6,301,417
5,315,418
3,074,476
2,984,840
Taxes
x
-
$2,976,519
$3,573,848
charge.
Note—Effective Jan.
1, 1936, the Union Pacific RR. Co. leased and is
operating the properties of the other Union Pacific System
companies and
of the St. Joseph & Grand Island Ry» Co.
Operating incorr e figures for
1936 represent this operation; the remaining items for 1936
and all items
for 1935 are consolidated figures for the Union
Pacific System companies
and the St. Joseph & Grand Island Ry. Co. with
inter-company trans¬
actions excluded.—V. 143, p. 606.
.
Financial
1250
1935
$3,924,343
$3,910,453
Co., a wholly owned sub. of Union
Elec. Light & Pow Co. (Mo.) (parent)-------Int. rec. from Union Elec. Light & Pow. Co. (Mo.)
(parent)
•*
Interest
United Elastic
$3,967,551
33,280
402,187
27,706
3,300
l,01o,821
$3,997,106
Total-
35,872
-
on
388,437
funded debt
discount & expense
Amortization of bond
Appr opriation for
1,017,422
depreciation reserve _
Net income.
Note—All
oo?
o
2,821
Other interest charges-,
--_i_ $2,520,043
$2,487,256
taxes, are borne by Power
of lease agreements covering the
-•
-
under the terms
property of the company; accordingly,
been made.—V. 142, p. 3873.
provision for income taxes has
no
Corp.—Dividend Raised—
Total operating revenues
& Foundry Co.—Earnings—
1936 12 IMos. 1935
2,782,096
997,477
—
..
Maintenance
2,733,664
Net operating revenues
Non-operating revenues
—
debt
—
& expense._
Other interest charges._—
& plant__
—V.
Depreciation, &c
$1,881,318
124,282
$1,150,084
$4,146,817
$2,005,600
307,420
126,961
42,000
121,000
724,022
306,628
158,899
608,901
613,162
255,521
$552,703 x$2,348,367
29,283
57,939
$887,119
$2,290,428
$828,251
•
Prov. Fed. inc. tax.,
x$l,293,231
profit
dividends
Net
370,404
154,454
96,000
330,459
&c.
&c.
Prov. Pa. inc. taxes,
28,966
Preferred
985,414
6,140
p.
$523,420
$1,264,265
Surplus for common..
Esh?:Ssik0Ypi8r'l5)
3,774,995
$5,282,072
$2.80
Ltd. (& Subs.)—Earnings—
United Fuel Investments,
31—
operations
depreciation) _
1933
1934
1935
1936
6 Mos. End. June 30—
from
Profit
_
on
sale of inv.(net)
$542,167
76,784
$746,209
204,423
$414,346
218,459
$993,204
(after
Other income
Profit
$950,444
38,760
4,000
$618,951
$950,632
101,688
Loss
on
43~919
12"68l
"
171~498
1,452
10,045
$821,706
702,879
sale of inv. (net)
$607,454
696,806
1
Federal income tax
income..
year before provision
income taxes
>
$469,764
798,917
ft20,000
Note—No
'
1,162,544
$0.52
$0.70
is made
mention
$85,025 def$329,153
1,200,000
1,200,000
'$0.67
$0.39
def $89,352
$118,827
1,172,753
of provision for
•
Federal surtax on undis¬
!
tributed profits.
,
Consolidated Balance Sheet June
1936
transmis¬
distri¬
9,784,014
9,764,588
$
Goodwill, pats.,&c.
1'
Employees'
stock
acquis'n plan... c457,732
Deferred charges..
8,141
Acer. int. on in v..
8,741
95,256
Deposits
Mat'l & supplies..
967,780
Cash & securities.
Accts. receivable..
8,516,819
1,525,898
60,891
Other assets
635,818
7,715
1935
.
$
$
Capital stock.-.30,000,000 30,000,000
Accounts payable.
305,222
500,059
15,719
Accrued accounts.
17,079
914,645
Reserves
916,930
b
Coke
1st
deposit
and
Ltd.,
1st
Accounts
51,664
47,942
and
crued
1,200,000 shares, no par value.
Union
-3
1936
passenger-miles
28,944,426
pound-miles
1008786107
Express pound-miles
383,512,301
Revenue plane-miles
4,240,837
Oper. revs.—Pass. & excess baggage. $1,588,971
Period Ended June 30—
Revenue
834,347
Miscellaneous
(net)
103,113
96,413
:
$2,622,845
Total operating revenues
1,754,582
Operations
Maintenance
b Depreciation
b Net salvage or loss on
equip, sold
Property, franchise & other taxes
Unemployment taxes
;
__
Gasoline and oil taxes
Federal income taxes
on
Comparative net income
c
261,356
351,342
Cr5,385
11,474
10,090
47,317
5,750
1935
24,988,222
824,810,779
254,586,925
3,808,634
$1,413,867
742,634
70,215
* 113,516
$2,340,233
1,568,820
276,331
311,433
46,388
$9,237,100
6,381,894
1,254,110
1,354,236
Cr76,911
20,466
60,151
20,196
178,250
8,554
44,725
$72,067
13,824
$56,616
68,469
>,891
$125,086
on
bonds
& other
69,824
63,278
2,656,392
2,439,805
taxes
for deprec. &
renewals
Total.....
18,309,438
18,019,438|
Total...
Represented by 100,000 no par shares.—V. 141, p.
x
United Public Service
18,309,438 18,019,438
3876.
Corp.—Earnings—-
Period Ended June 30, 1936—
on note receivable from Kentucky
Power & Light Co., subsidiary company
3 Months
6 Months
$15,000
$30,000
Income; Interest
Miscellaneous
Total income.
$15,000
2,458
3,704
_
General expenses,
x
Taxes
Gross income
Amortization of bond discount of subsidiary co.
x
$8,837
1,650
•
$30,027
3,726
6,382
$19,919
3,300
$16,619
undistributed profits.
$7,187
Net income
No provision has been made for Federal surtax on
—V.
27
...
143, p. 775.
,
$272,493
Operating expenses include provisions of $44,955 and $56,379 for the
months ended June 30, 1935 and 1936, respectively, for insurance
reserve not covered under the company's insurance policies.
There were
no
charges
to the
reserve
during the three months ended June 30,
1935 and charges to the reserve during the three months ended June 30,
1936 were $6,511.
Operating expenses for the 12 months ended June 30,
1936 reflect actual losses during the period.
b Depreciation expense and net salvage on equipment sold for the three
months ended June 30, 1935 and for the 12 months ended June 30, 1936
has been adjusted to reflect the change in basis of providing for depreciation.
Provision for depreciation on former basis for the three months ended June
30, 1935 was $402,914, or a difference of $91,480.
Net salvage on equip¬
ment sold for the three months ended June 30, 1935 on the former basis of
United States & Foreign
a
providing depreciation was $66,526, as compared to a loss of $46,388 on
the revised basis, or a difference of $112,914.
c In connection with the preparation of a special balance sheet and income
account at June 30, 1936, the provisions for insurance reserve in excess of
losses charged to the reserve for the six months ended June 30, 1936 in the
amount of $106,474 have been reversed on the books of the company.
.
net
income
for the second
quarter
after all
charges, including estimated Federal income tax, was $222,625, equivalent
to 21.3 cents per share of stock outstanding June 30, 1936.
The compara¬
tive net income for the second quarter of 1935 (after adjustment»due to
revision in equipment depreciation rates) was $85,891, equivalent to 8.2
cents per share of stock outstanding June 30, 1935.—V. 143, p. 447.
deposits...
come tax
Res.
15,635,898
$5,224,658
3,217,713
377,235
417,492
three
comparative
37,001
of
ion of Canada in¬
93,434,665
V
Net income, per books
Note—The
74.206
Co.
Reserve for Domin¬
3779391333
1382734234
49,868
Provision for insurance reserve
on
Months
$222,625
securities, &c
8,751
10,462
charges..
Gas
Accrued interest
1936
$186,317
36,307
Net earnings from operations
Interest
12
Months-
Mail
Mail
159,404
3,778
13,484
ac¬
Canada, Ltd...
Corp. (& Subs.)- -Earnings
Express...
177,337
payable
sundry
Meter
United Air Lines Transport
1,662,000
mtge.
July 1, 1948...'.
36,432,082 36,111,776
Total
36,432,082 36,111,776
Total
1,610,500
Co. of Hamilton,
spare
equipment
2,298,200
5H % bonds due
85,021
prepaid expenses
1,000,000
United Gas & Fuel
107,191
407,615
-
1, 1956--.---
1,304
395,022
7,181
65
ing funds
Stores
1,187,400
bonds due July
Organization exps.
Def.
charges and
a After depreciation,
b Represented by
27,247 shares at cost.—Y. 142, p. 2005.
7% bds.
1,'43
Gen. mtge. 6H%
due Feb.
trsutees for sink¬
Bond discount
843,040
6,144,647
1,350,668
67,488
1st mtge.
43,065
678,911
49,086
468.852
80,000
2,500,000
1, 1955(ser.A)
terest)
37,575
5% '
mtge.
bds. due Nov.
(less reserve
on
450,000
Ovens,
Ltd.—
400,293
accts.
Inventories
Cash
450,000
1956
Hamilton By-Prod't
(less
330,157
15,130
8>$%
mtge.
bonds due July 1,
for unearned in¬
4,876,190
4,998,014
Surplus:
rec.
191,264
757,729
-
Instalment
12,395
fund
Gen.
hand and
on
in banks
reserve)
,
Liabilities—
24,790,823 26,944,825
a'Fixed assets
30
1936
$
Assets—
Cash
100,000
588,007
f6r sinking
Reserve
6,378,954
9,000,000
100,000
Consol. earned surp
paid on ac¬
$
..
641,520
Common stock..
x
systems,
...
$
6% cum. red. pref.
stock ($100 par) 9,000,000
quisition of sub.
companies, &c_. 6,378,954
Prems.
1935
1936
Liabilities—
$
sion lines,
bution
$261,778
$274,U
Sheet, March 31
1935
$
mfg.
coke
&
Accounts rec.
1935
220,263
for all companies for
for Dominion of Canada
1936
Gas
&c
Balance, surplus
Shs.cap.stk.out.(no par)
Earnings per share
"V.181
off.:
Consolidated Balance
Assets-
$805,025
absorbed----
Combined profits, less losses
plant,
Net
Dividends paid.
$862,060
358,811
20,042
1,795
219,633
$875'110
---—351.313
22,156
—
and discount
Organization expenses written
Provision for depreciation
$632,806
150,961
Interest deductions
depreciation
bond interest
or
Interest on bonds—
1935
1936
*
operations before charging
Profit from
Bond and loan expenses
Co.—Earnings—
58.868
775.
Years Ended March
142, p. 3696.
Union Tank Car
46,200
203,598
$1.55
$0.64
$2.80
$1.01
provision for Federal surtax on undistributed profits.—V. 143,
Before
X
3 732,457
_i
240,944
$2,244,548
Total income
232,164
80,619
CV8.356
$6,867,199
-
Net income
$3,905,873
Expenses
$14,933,395
4,622,884
48,718
Crl5,189
1.018,157
5,520
—
construction charges to prop.
Preferred dividends of subsidiaries—
Minority interests
Appropriations for depreciation reserve.
Int. during
1,181,113
$16,505,281 $14,965,816
8,560
Dr32,420
$16,513,841
4,603,092
211,346
Gross income
Amortization of bond discount
mfgTT
prcrfit from
^
1,224,976
1,310,196
-
Taxes, other than income taxes
Provision for income taxes
Interest on funded
_
1936—6 AJos.—1935
$2,176,272 $1,096,325
68.276
53,759
30—
Period End. June
Other income.---------
27,015,466
6,909,895
*
_
Operating expenses
1935
1936
—$28,963,206
7,368,155
Months Ended June 30—
74,015,388
83.434,933
(kwh.).— 84,120,244
1096.
—V. 143, P.
United Engineering
12
Aug. 8 '36 Aug. 17 '35
Aug. 15 '36
Electric output of system
Gross
Earnings—
Co.—Weekly Output—
United Gas Improvement
Week Ended—
(Mo.) (& Subs.)—
Light & Power Co.
Union Electric
on the
record Sept. 4.
1934 to
March 24,
23, 1933 and 10
June 24,
declared a dividend of 15 cents per share
stock, no par value, payable Sept. 24 to holders of
This compares with 10 cents paid each three months from Sept. 24,
and incl. June 24, last; 20 cents paid on June 23,1934; 25 cents on
1934, and on Dec. 23, 1933; 20 cents disbursed on Sept.
cents per share paid each .quarter from June 24, 1932 to and incl.
1933.—V. 142, p. 1138.
directors have
The
common
including Federal income
taxes,
Operating Co., lessee,
1934.—V. 142, p. 3697.
paid on July 1,
dend
57,098
72,762
—
Expenses
per
of electric plant to
net from lease
rent,
Power Oper.
have on Aug. 18 declared a quarterly dividend of 25
the common stock, par $10, payable Oct. 2 to holders of
The directors
1936
12 Mos. End. June 30—
Income,
Corp.—25-Cent Common Dividend—
cents
share on
record
Sept. 11.
A dividend of $1 per share was paid on this issue on June 1.
last, this latter being the initial payment on the $10 par stock.
The last
dividend paid on the $100 par stock was the regular quarterly $1.50 divi¬
United Dyewood
of 111.- Earnings-
Light & Power Co.
Union Electric
1936
Aug. 22,
Chronicle
6
Months Ended June 30—
Cash dividends received
Interest received and accruedOther income
Total income
Net realized
Profit
on
on
investments
Securities Corp.—Earnings—
1935
$511,451
61,645
23,553
1934
$487,658
53,732
$668,727
$596,650
Cr492,123 Drl,374,694
$541,390
Dr427,077
$1,160,850 loss$778,045
98,763
27,021
61,461
59,207
$120,312
14,580
50,633
$1,000,627 loss$864,272
$55,099
1936
$591,838
76,889
06,000
syndicate participation
Total profit,
Capital stock and other taxes
Other expenses..
Net profit.
the net assets of corporation had an indicated value oi
approximately $38,852,500.
This calculation is based on market quotations
or on the nominal value of $1 where market quotations are not available.
The investment in the second preferred and common stocks of United States
& International Securities Corp. is also calculated at $1, although the
common stock is listed on the New York Curb Exchange and the second
On June 30, 1936,
preferred stock had an indicated value based on underlying assets, of
approximately $5,702,000.
*
'
„
^
If the appreciation in the securities Owned by corporation had been
realized, it is estimated that taxes resulting therefrom at 1936 rates (with,
Volume
out
Financial
143
Including estimates for Federal
excess
profits tax and surtax
Chronicle
on undis¬
Utility & Industrial Corp.—Par Value Changed—
tributed profits) would have amounted to
approximately $865,000.
After
deducting this amount, and based on the calculation above, the net assets
of corporation as of June 30,
1936,
were
At
special meeting, held Aug. 18, stockholders authorized an amend¬
of the certificate of
incorporation to change the no-par convertible
preferred stock to $7 par value and the
no-par common stock to $5 par value.
These par values represent the amount of
capital now allocated to the
respective stocks.
According to the company these changes will result in
substantial savings in the payment of taxes out will in no
way affect the
rights of the preferred or common stocks.—V. 143,
p. 447.
Balance Sheet June 30
1936
Assets—
Cash
accrued, &c
sold
Liabilities—
804,005
interest
rec,
154,597
but
50,437
.
not
delivered
18,229
Secure, (at cost).32,069,695
f Inv. in U. S. &
Int. Sec.
Corp..
c
General reserve,
Diva,
29,917^405
21,000,000
50,000
4,950,000
4,950,000
100,000
100,000
Vanadium Corp. of America
1
payable.
954,329
5,071,375
.32,567,504 30,771,848
Total
32,567,504 30,771,848
210,000 shares (no par) $6 cum. div.
b 50,000 shares (no par) $6
div.
c General reserve set
up out of $5,000,000 paid-in cash by
subscribers to 2d pref. stock,
d 1,000,000 shares,
e Including
15,000
shares of common stock of
corporation under option to the President until
March 1, 1939 at $25 per share.
The aggregate value of securities owned
based on available market
quotations or estimated fair value in the absence
.
Loss
a
was greater than the above book
value by approximately $6,726,821
1936 and less than the above book value
by approximately $1,060,523
i 94,100 shares of 2d pref. and
1,987,653 shares of common stock.
—V. 142, p. 3016.
.
$450,003
299,718
5,595
16,376
Crl9,729
$18,706
Minority interest
Assets—
1936
S
U. S. Gov. bonds.
S. Gov. bonds
S
2,393,935
1,891,690
Liabilities—
U.
curr.
maturing.
201,836
122,694
701,521
RR. bonds & stks.
973,149
P. U. bds. & stks.
1,693,558
Misc. bonds & stks
4,322,469
Cash
1,535,746
295,831
Dom. of Can. bds.
State & munic. bds
Prems." not
months
Reins,
over
784J90
875,600
1,780,311
3,103,866
1,189,709
804,414
43,548
43,994
48,894
receivable.
Accrued interest..
821,370
43,045
54,189
50,836
12.885,759 10,890,638
142,
$
Res.
for
loss
Com. & brokerage
Fed. & State taxes
Special
reserve
Vol. gen. cont.
res.
Capital paid-in
Surplus
Profit
on
$565,513
•31,287
on investments
syndicate participations
Net for period
Assets—
Sec.
1935
$■
540,157
x769,803
trade..
267,479
160,207
employees
1,573
1,972
1,971
549,353
3,794
405,710
but
delivered.
96,618
Dlvs. rec., int. ac¬
crued, &c
148,239
38,534
Cash dep. for pay.
$
179,400
Sec. purch. not rec.
111,145
118", 148
Res. for taxes
642,865
19,366
b 1st pref. stock..23
,920,000 23,920,000
c 2d pref. stock
500,000
500,000
d Special reserve.
9 ,475,000
9,475,000
e Common
stock..
24,855
24,855
Capital surplus
9 ,346,831 10,064,316
Operating deficit—
47,865
1,839,062
_
of dividends
f Securities at
1935
1st pref div pay
179,400
cost42,942',561 41,612*759
Total
43,552,231 42,282,622
Total
43,552,231 42,282,622
b Represented
by 239,200 no par $5 oiv. shares,
c Represented
by
100,000 no par $5 div. shares,
d Set up" out of amount paid in cash
by
subscribers to 2d pref. stock,
e Represented by
2,485,543 no par shares,
f Securities, at cost, include 5,000 shares common
stock of United States &
Foreign Securities Corp. under option to the President, until March
1,
1939, at $25 per share.
The indicated value of securities
owned, based
on market quotations, was less than
the above book values
by approxi¬
mately $7,179,976.
g Includes accrued expenses.—V. 143, p. 128.
United
States
Leather
Period End. July 31—
Accrued
Operating profit
Depreciation & depletion
Interest
$123,075
123,058
paid
$265,440
157,580
5,492
mach.
incl.
Federal income taxes
Profit..
Interest accrued
$17
_
447,499
(net)..
$348,407
$102,368
$361,364
3,307
$3,324
ketable
to
Universal Pictures
sees.
&c.
1,060,226
116,800
7,030
...
conting.
voted by the bd.
of directors July
30, 1935
Capital stock
50,000
1,875,000
100,000
812,173
Earned surplus
1,875,000
100,000
537,253
36,535
32,925
43,227
40,034
Total
$3,141,407 $2,726,594
Total
$3,141,407 $2,726,594
x After
provision to reduce to market value of $7,822 in 1935.
y After
prOvisionfor possible uncollectibility of $22,424in 1936 and $12,885in
1935.
z After
provision for depreciation of $669,871 in 1936 and $700,536 in 1935.
a
Represented by 75,000 no par shares.—V. 143, p. 939.
Virginia-Carolina Chemical Corp. (& Subs.)—Earnings
Years Ended June 30—
Gross earnings
1936
Provision for loss
on
time sales
Depreciation and depletion
Other deductions (net)..
Operating loss
—
bank loans.
Profit before special items & taxesAmount realized on securities previ¬
ously written off.
—
res.
prev. proy.
152,797
508,625
91,923
94,250
$1,301,235
$506,685
$39,620
$1,301,235
$506,685
$98,754
5,000
cos.
122,609
292,875
$1,301,235
23,657
$506,685
14,308
$93,754
income
on
$2,130,212
1,148,216
92,046
527,092
42,346
$46,502
6,882
Dividends received from affiliated
Interest
1934
$2,551,200
1,239,029
117,994
554,364
$368,982prof$639,813prof$320,512
Other income.
Total
1935
$1,626,335
1,339,430
63,632
592,255
Expenses.
$1,277,578
$492,377
47,000
...
against
rec.
of
12,134
—
Profit before Federal taxes
Federal and State income taxes
Net profit
Comparative Consolidated Balance Sheet June 30
1936
1935
$
$
1936
1935
$
Liabilities—
$
L'd, bldgs., mach.
& eq., less depr.14,154,168 14,342,167
z Notes&accts.rec.
105,056
132,187
Inv. in affil. cos.. 1,242,501
1,242,501
7% prior pref. stk
5,437,200
6% part. pref. stk.21,339,215 21,339,215
y Common stock..
1
1
Accounts payable)
x
$71,392
hand
The directors have declared dividends of 58 1-3 cents per share
on
the
3,145,353
481,599
2,616
U. S. Treas. notes)
Mktable.
6,525,441
658,139
2.916
497,946
Total
x
After
counts.
z
Less
\
170,311
deducting
for
507,871
[2*3*8*746
\121,994
insur.
& contingencies.
Capital surplus
General surplus
...
Total
for losses,
a
184,497
a23,445
692,965
316,881
2,355,638
466,366
25,247,994 30,276,041
reserve for doubtful accounts and
Authorized 750,000 shares,
reserve
pay'le 2,500,000
accounts/
994,444
124,819
25,247.994 30,276,041'
y
notes
[1,019,254
securs./
Deferred charges__
Bank
Accrued
Reserve
Patents
$7 cumulative preferred stock, no par value, and 50 cents per share on the
no par $6 cum. pref. stock, both payable Oct. 1 to holders of record
Sept. 1.
Similar amounts were paid on July 1, April 1, Jan. 15 and Oct. 25 last.
On Feb. 1, 1935 the company paid dividends of $1.16 2-3 and $1
per share,
respectively, on these issues, these latter payments being the first mads
since Jan. 2, 1933, when regular quarterly dividends were distributed.—
V. 143, p. 607.
3,373,378
1,860,792
Cash in banks and
on
Co.—Preferred Dividends—
3,131,208
2,317,236
Accts. & bills rec.
Other assets
anticipated
for
Mdse. inventory..
$108,307
Co., Inc.—Earnings—
Utah Power & Light
27,344
deferred
$108,307
Earnings for 13 Weeks Ended May 2, 1936
Net loss after all charges incl. amortiz. & deprec. of $100,000-.
—V. 142, p. 3698.
Prov.
a
future opers.
12,957
-V. 142, p. 3532.
Other
Capital surplus
Assets—
Net income
121,858
Approp.for extraor¬
dinary expenses
not readily mar¬
Charges
11,593
$102,368
& equip.,
mfg. tools
subsidiaries
$567,399
$35,453
231,778
liabilities
1,277,587
121,800
June 15/35
$95,112
wages,
taxes & expenses
int.
struction, cost..
Invest, in sub. co.
June 20,'36
Pats., trade mks.,
60,000
:
bond
in process of con¬
1936—9 Mos.—1935
$721,696
313,289
$156,483
comm., pay. &c.
Acer, sals.,
accts.
...
Excess
Co.—Earnings—
1936—3 Mos.—-1935
&
receiv.,
696,221
6,000
$
Liabilities—
631,329
not
securs.,
Notes
Due fr.
$413,702
1936
$
185,413
sold
$243,164
75,000
11,681
Accts., royalties &
Inventory
z Land,
buildings,
1934
Balance Sheet June 30
$309,574
150,000
prof47,835
Liabilities—
15,'35
$135,120
cost
1936, the net assets of corporation had an indicated
value,
market quotations, of approximately
$36,038,000.
Calculated
on this basis the
assets were equivalent to
approximately $150 per share
of first preferred stock.
1936
10,000
<
$207,408
$301,726
y
on
Cash
hand
Market,
$453,912 loss$352,893 loss$331,673
On June 30,
5,380
un¬
1
June 20, '36 June
Cash in banks and
$534,226 loss$290,509 loss$276,518
Capital stock and other
taxes.22,293
9,147
12,532
Other expenses
58,021
53,237
42,622
Net profit
possible
Comparative Condensed Balance Sheet
$372,429
41,272
$450,017
740,526
for
accounts
Loss from sale of marketable securities
Net profit..
based
provision
excess
and dividends..
1935
60,528
Dividends declared and paid
500*666
$420,647
22,675
.
50,000
.
6,694
Total income
Net realized loss
of
collectibility of
United States International Securities
Corp.- -Earns.
1936
$167,256
"...
Restoration
...12,885,759 10,890,638
$516,221
49,292
3,650
34,744
reserve to reduce cost of not
readily
marketable securities to nominal value—not now
required
on
6 Months Ended June 30—•
Cash dividends received
Interest received and accrued
Other income
78.519
Restoration of
Assets—
Total
254
1,986
reserve to reduce cost of
marketable securities to market value—not now
2006.
p.
5,864
prof649
$309,574
required
1,000,000
3,963,506
4,386,023
16,015
452
Restoration of portion of
47,831
304,903
157,777
186,571
181,386
144,526
232,151
79,449
12,314
500,000
2,000,000
$279,771
•
-
2,247,228
45,809
550,715
...
to
'35
$265,826
13,945
$417,009
24,891
4,222
_.
Net income.
2,301,436
res..
Dec. 29 '34
June 15
$403,240
13,769
Expense of moving screw machine department to
Bristol..
/
Federal income tax
Provision for contingencies voted
by the board of
directors July 30, 1935
adj.
expense
Reinsurance
Dec. 31 '35
June 20 '36
Loss from disposal of
plant assets
$
2,508,548
1933
$135,828
3699.
p.
Total income
Cash discounts allowed
unearned
Accounts payable-
due
Total
for
$57,182
Provision for possible
uncollectibility of accounts
Interest paid on borrowed money
1935
premiums
2,426,222
Res. for losses and
claims
3
Other assets
—V.
Res.
1934
$92,891
to
United States Guarantee Co.—Bal. Sheet June 30—
1935
1935
$45,854
•
$24,023
Net profit
-V. 142, p. 3697.
Subs.)—Earnings—
1936
Period—
Net profit from operations
Other income
$515,510
153,532
322,918
Dr24,441
5,000
Crl4,404
140,527
and amortization
Profit on sale and demol. of
property
Federal income taxes
$41,838 loss$270,181 loss$326,485
3366.
p.
«•
Veeder-Root, Inc.—Earnings—
$442,121
73,389
net
•.
-
12,000
preciation, &c_
$11,541,705 $11,791,309
11,152,251
11,349,188
Depreciation, depletion
$169,016
255,561
27,506
112,434
100,000
equipment.
6 Mos. End. June 30—
Net loss after
taxes, de¬
1935
$389,454
60,549
1936
142,
—V.• 142,
Distributing Corp. (& Subs.)—Earnings—
Total income
Interest,
process
Vadsco Sales Corp. (&
in 1935.
Other income
$250,476
259,920
5,196
105,541
150,000
Net profit
In
1936
on
-V
thereof
Operating profit
$130,819
38,197
Federal income tax
cum.
Costs, expenses,-fee
$150,190
100,286
$367,772
207,188
15,539
91,207
Miscellaneous deduction.
Interest
....
6 Months Ended June 30—
Sales and operating revenue
1934
$2,043,783
1,912,964
$326,594
41,178
Other income.
'118,084
36,513
954,329
3,247,921
126,800
Operating surplus.
1935
$1,823,058
1,672,868
315,000
315,000
.
received
Reserve for taxes.
U. S.
1936
$2,574,622
2,248,028
Sec. purch. but not
1
(& Subs.)—Earnings—
6 Months Ended June 30—
1st pref.
on
stock
__
Capital surplus.
Total
$
$
1st pref. stock.,21,000,000
b 2d pref. stock
50,000
a
d Common stock
e
1935
1936
$
324,982
Diva,
Sec.
1935
$
a
ment
equivalent to approximately $181
share of first preferred stock.
per
1251
bills and cash dis¬
value; issued, 486,708 shares,
After transfer of $2,332,193 to general
surplus.
no par
Financial
1252
representing excess of par value over cost of shares of 7% cum. div. prior
preference stock purchased by the corporation in prior years and retired
during the fiscal year ended June 30, 1936.—V. 142, p. 3532.
$1 per share on the common
stock, par $100, payable Sept. 1 to holders of record Aug. 22.
This will
be the first payment made on the issue since Dec. 1, 1934 when $1 was
also paid.
Dividends of $1.50 per share were paid on Sept. 1, June 1, and
March 1, 1934 as against $1 per share paid on Dec. 1 and Sept. 1, 1933.
Gross earnings
—
Real property taxes
Excise taxes
Corporate taxes
489,923
85,199
155,192
6,208,731
1,042,053
1,669,695
5,909,580
971,366
1.915,890
$548,551
$530,234
$6,779,979
$6,389,668
Maintenance..,
Taxes.
Balance
40,000
6,666
Inc. from other sources.
$409,138
Appropriations for retirement reserve
Preferred dividend requirements
Balance
$6,819,979
1,920,095
$6,389,668
1,890,736
$376,429
146,079
Interest & amortization.
$4,899,884
$4,498,932
1,800,000
1,171,632
1,816,666
1,171,560
Gross corporate
Interest on debenture
1934
1935
1936
and taxes
$87,732 prof$25,433 prof$54,562
$32,031
T__
See list given on
Corp.
$75,766
f
.
69,660
73,390
11,000
supplies
&
discount
process
Accounts
58,041
Accrued unbilled revenue
Accrued
Interest
Accrued
Cash
Unearned
Deferred
15,675
pref. stock.at $100 and div. in
Capital
surplus
Earned
surplus
~
fotal
.88,815,808
—V. 142, p.
July last.
6% cumulative preferred stock will be accompanied by a
\
Capital Stock (.Adjusted to give effect to this new financing)
Outstanding
Authorized
$308,300
178,300
250,000
a39,6l4 shs.
$350,000
350,000
250.000
8% preferred stock (par $100)
7% preferred stock (par $100)
6% preferred stock (par $100)
Common stock (no par)
Class A common stock (no par)
44,000 shs.
b5,000 shs.
Remaining 4,386 shares of common stock are held
shares of which are reserved against exercise
b 2,500
None
alive in treasury,
of stock purchase
WJUTftlltS
,
1936, there were outstanding $328,697 mortgages
by certain individual parcels of the
secured
Jesse H.
profit after de¬
ducting cost of sales
Oper. exps., incl. deprec.'
1935
$1,236,051
1,052,263
$1,263,682
$90,488
$183,787
1,238
Gross income
$623,636
533,147
252
507
$183,109
8,758
14,663
21,382
Avail, for pref. divs__
1,080,572
10.600
$184,295
27,015
22,608
$191,867
32,812
22,570
$64,689
17,852
$134,671
35,702
$136,484
37,577
$90,741
15,451
$130,619
.
Int. & miscell. charges._
Federal taxes (est.)
$94,572
18.184
asked the
organization for the road, now scheduled for Aug. 25, be
additional 30 days.
Mr. Schumacher pointed out that efforts are now
$76,388*
$46,837
$98,968
Western Tablet & Stationery Corp.—Bonds Called—
announced that it will purchase at 102 and interest any of
6% sinking fund bonds, due Oct. 1, 1941, that
are presented to it for payment prior to Oct. 1, 1936.
By this action the
company is anticipating the redemption of the entire issue, which will be
redeemed on Oct. 1, 1936 at the same price of 102 and accrued interest.
Payment will be made upon presentation of bonds at the New York office
of the Chase National Bank.
The outstanding amount of the issue totals
$300,000 principaramount.—V. 143, p. 778.
*
The company
Teleg. & cable
Teleg. & cable
Telegraph Co., Inc.—-Earnings—
1936—Month—1935
1936—6 Mos—1935
$7,556,795 $47,272,226 $43,730,550
$8,499,443
6,125,523
38,499,675 36,372,142
exps
6,692,815
oper. revs
oper.
$13.90
,.$28.40
52,880
283,333
330,906
1,980,232
$1,414,739
93,944
$1,095,059
92,233
$6,461,413
709,247
$5,352,312
$1,508,683
683,138
$1,187,292
693,128
$7,170,661
4,115,516
$6,055,615
4,155,876
$825,545
Operating income
Non-operating income.
_
Gross income..--Deductions
$494,164
$3,055,144
$1,899,739
1.17
2.52
2.46
common
stock
(S. S.) White Dental Mfg. Co. (&
West Penn Power
Earnings
Supply Co.—Sales—
Month of—
1936
$1,116,000
1,085,000
1935
$1,116,000
995,000
1934
1933
$666,862
651,000
March
1,272,000
1.376,000
April
May
1,478,000
2,070.000
1.463,000
1,638,000
$870,000
882,000
1,114,000
1,137,000
1,476,000
June...
2.540.000
1.886.000
1.666.000
1.382.000
2,743,000
1,946,000
1,590,000
1,316,000
January
February
...
July
—V. 143, p.
1936—3 Mos-
-1935
$33,572
lossfl 1,588
$113,856
$7,468
5,307
39,389
36,490
138,018
old
=
Willys-Overland Co.—Amendments to Reorganization Plan
The Empire Securities, Inc. (240 Huron St., Toledo, Ohio) has filed
amendments to the plan of reorganization of Willys-Overland Co. and
Willys-Overland, Inc. (V. 143, p. 1098).
These amendments proposela
change in the treatment of the various classes of securities.
The plan as
Claims and Interests tq
Maryland Ry.—Earnings—
—Second Week of August—
1935
1936
(est.)...
$303,721
$281,329
—Jan. 1 to Aug.
1936
1935
>,740,878
$9,053,606
Participate in Reorganization
The claims against the old company and Willys-Overland, Inc., or their
respective properties, which are entitled to participate in the plan under
Section 77-B of the Bankruptcy Act shall be classified as follows:
Gold bonds of the old company (principal
—V. 143, p. 1098.
amount outstanding)
General unsecured indebtedness of the old company
Western Massachusetts
Cos.—Earnings—
[Including Constituent Companies]
Period End. June 30—
1936—6 Mos.—1935
1936—12 Mos.—1935
Total oper. exps. & taxes
Operating profit
;
Total earnings
Interest deductions
$4,259,887
2,643,963
$4,030,868
2,337,022
$8,408,073
5,245,601
$7,971,541
4,746,629
$1,615,923
Operating revenues
Other income
$1,693,845
91,291
$3,162,472
$3,224,912
175,787
20,505
57,383
$1,636,428
$1,785,137
$3,219,855
$3,400,699
286,252
283,269
567,046
568,682
$1,350,176
$1,501,868
$2,652,809
$2,832,017
Bal. avail. for retirem't
res.,
divs. & surplus
—Y. 142, p. 4359.
1936—12 Mos—1935
all
lease acc'ts as follows.
—V. 142, p. 3534.
$0.82
amended follows:
Period—
Gross earnings
profit
after
charges and taxes
xlncl.
recovery
of
$244,130
>
670,000
873,000
1,156,000
289.
Western
Net
—
Machine Corp.- —Earnings
Period End. June 30—
x
30, 1936
Federal taxes and other charges.
share on 299,317 shares
608.
'
White Sewing
Co.—Listing—
The New York Stock Exchange has
Western Auto
per
—V. 143, D.
authorized the listing of $27,000,000
first mortgage bonds, series I, 3H%, due Jan. 1, 1966 (see offering in
V. 142, p. 475).—V. 143, p. 129
703,303
Subs.)—Earnings—
Earnings for 6 Months Ended June
Net income after depreciation.
—V. 127, p. 3723.
1,700,000
—V. 143, p. 1098.
$27.66
1.93
of
stock....
b Earned per share of
306,096
59,497
332,393
Uncollec. oper. revs
Taxes assign, to oper
Earned per share
preferred
being made to secure
its first mortgage 15-year
$98,906
$19.43
b Balance for common
a
.
of re¬
postponed for an
an agreement
between the RFC and the Ecker committee on a revised
recapitalization plan, in the light of studies made by the RFC and the
committee on maintenance requirements of the carrier, and the new capital
necessary in connection with the reorganization.
Mr. Jones, he pointed out, will not return to his office until after Labor
Day, although Mr. Ecker is expected to return before that time.
"We are quite confident,"
Mr. Schumacher wrote Finance Director
O. E. Sweet, "that when Mr. Ecker returns and a conference can be arranged
with Mr. Jones and a thorough discussion had respecting the differences
in connection with the pending plan, the result will be to expedite rather
than retard the progress of the reorganization."—V. 143, p. 778.
Net income
a
Preferred divs. paid
the company's first mort¬
Period End. June 30—
1934
$129,380
Operating profit
Postpone Hearings on Plan
Reconstruction Finance Corporation Chariman
United States of Frederick H.
Jones and the absence from the
Ecker, Chairman of a protective committee for
Years
$726,176
596,795
Other income
.$8,815,808
-
Western Union
Calendar
1935
Gross
__
206,133
1,000,000
792.525
584,175
gage bondholders, T. M. Schumacher, co-trustee of the road has
Interstate Commerce Commission that further hearings on a plan
Consolidated Income Accounts
1936
-
Totnl
3367.
corporation's real estate.
—6 Mos. End. June 30
1
Western Pacific RR.—Asks to
$1,764,583
Houston.
.......
16,272
15,000
500,000
1,091,411
entitling the bearer thereof to purchase one share
As at June 27,
pref. stk..
shs no
„
of class A non¬
voting common stock at $25 per share during the first year, at $27.50 per
share during the second year and at $30 per share during the third year.
Transfer agent: National Bank of Commerce, Houston.
The business was established in 1901 by Harris Weingarten with an
initial investment of $300.
It was incorporated in Texas in 1914, and
continued as a neighborhood "charge and delivery" grocery store until
1918.
Then the management converted the store into a "cash and carry"
food market with a self-serve grocery department.
Today company con¬
stitutes a chain of 12 food markets serving the most populous areas of
a
liabilities
$141,900
premiums
(J.) Weingarten, Inc. (Texas)—Preferred Stock Offered—
Moroney & Co., Houston,' Texas, offered $250,000 6% cum.
warrant
16,877
187,403
1,196,865
Unearned revenue
Reserves...
Because of the illness of
Each share of
7,924
Consumers' deposits
par)
Total
$1,764,583
Total.
36,566
3,948
Miscellaneous accruals.
159,276
of amortization
Common stock (50,000
207,855 Losses, pay able
39,344 Taxes, &c
7,524 Capital
33,521 Net surplus
accrued
(current acct)
Fed., State & local tax
int. on funded debt..
$5 non-cum. partic.
$1,476,339
Bond & mortgage loans
Premiums receivable, &c
26,959
16.558
4,061
46,312
-
—
Due to parent c.o.
in
expense
$4,689,500
payable
payable..
Notes
Liabilities—
"
Bonds, stocks, &c
92
debt
Funded
Statement June 30, 1936—
j^Lsscts
$75,967
51,530
Liabilities—
■
&c_-.$8,427,436
1,329
Y.—Financial
N.
Cr661
44,000
11,045
Balance Sheet June 30,1936
Prepd. accts., deferred charges,
& unadjusted debits
of
Drl08
Net income
Ltd.—Registers with SEC-
Assurance
Washington
10,212
Dividends on preferred stock
Materials &
first page of this department.
204,887
50.206
3,622
9,446
930
43,250
8,855
construction
replacements
Provision for Federal income tax
Prov. for int. on Fed. income tax of prior years—
Debt
Wanapitei Basin Mines,
83
Provision for retirements and
Accts. rec. (less reserve)
—V. 142, p. 4199.
$398,522
$398,606
Amortization of debt discount and expense
Cash in banks & working funds
1933
23,160
82,568
3,770
6,100
145
Miscellaneous interest
Assets"""*
Net loss after all charges
'
$392,940
.
Plant, property, equip.,
Special deposits
—Earnings—
6 Mos. End. June 30—
income
debt
bonds—
Interest on mortgage
—V. 143, P. 447.
Waco Aircraft Co.
816
Cr6,811
2,700
$393,086
204,887
49,076
'
$1,527,300
$1,911,657
surplus
Balance for common dividends and
and Federal income tax—
---
Interest charged to
$530,234
153,804
$555,218
Balance
retirements
earnings before provisions for
and replacements
519,970
88,253
172,190
Operation.
commission expense
Other income.
1936—Month—1935
1936—12 Mos.—1935
$1,328,965
$1,260,549 $15,700,460 $15,186,506
Period End. June 30—
213,100
34,666
3,470
Cr4,436
1,800
26,855
98,501
3,887
6,855
Maintenance
Net
Virginia Electric & Power Co.—Earnings—
$745,038
200,473
33,738
$777,640
General expenses transferred to construction.
Provision for uncollectible accounts
3492.
1935
1936
,
Operating revenues
Other regulatory
Victor^-Monaghan Co.—Dividends Resumed—
—V. 139, p.
Ended June 30—
R ate case expense
first page of this department.
The directors have declared a dividend of
Co.—Earnings—
Western New York Water
Mrnrs
General operation.
Vending Machines, Inc.—Registers with SEC—
See list given on
Aug. 22, 1936
Chronicle
_
5,900,000
563,750
$8,463,750
Total
The foregoing claims are
expenses
$2,000,000
and Willys-
Overland; Inc. (exclusive of sums payable to affiliated or
subsidiary companies), as allowed by the Court, approximately
Contingent claims (not determined at this time), but only to the
extent, if any, allowed by the Court
exclusive of liabilities of the trustee, and claims,
preference or priority of payment or
provisions of the Bankruptcy Act, which are to be paid prior
the consummation of the plan or assumed by the new company
and allowances entitled to
lien under the
to or upon
or
the Real Estate company.
Inasmuch as the old company and Willys-Overland, Inc., are clearly
insolvent, the plan does not provide for participation therein by the holders
of preferred or common stock of the old company except through.the exer¬
cise of subscription rights.
.
Volume
143
Financial
The New
Chronicle
Company and the Real Estate Company
The plan provides that the properties and assets of the old
company and
its subsidiaries will be conveyed to and
follows:
(or) owned by two companies,
as
Willys Real Estate Realization Corp., which may be the present WillysOverland Branches, Inc. (Del.), with its name
changed; and
Willys-Overland Motors, Inc., a corporation organized in Delaware.
The Real Estate Company—Property of the old
company, certain obsolete
machinery, the properties of the Willys-Overland Branches, Inc., and of
Willys-Overland, Inc., and the capital stock of Willys-Morrow Co. and
Wilson Foundry & Machine Co., which are
deemed by the trustee to be
detrimental to the operation of the business of
manufacturing and selling
automobiles, will be owned by, and so far as is
necessary to establish owner¬
ship, transferred to the Real Estate company.
The Real Estate
(2) $2,000,000 6H% Gold Bonds of the Old Company
For each $1,000,000 of gold
bonds, including all accrued unpaid interest
thereon from Sept. 1, 1932, the holder thereof shall receive:
(а) 70 shares of preferred stock (par $10 each) of the new
company
(or, at option of such holder, 210 shares of common stock of the new com¬
pany); and
(б) 22 shares of preferred stock (par $25 each) of the Real Estate company.
Empire, as the holder of approximately 70% of the gold bonds, has agreed
to-exercise the option mentioned in (a) above and to take in
respect thereof
common stock of the new operating
company on account of all
gold bonds held by it.
In like manner as all other bondholders, it will
receive shares of preferred stock of the Real Estate
company as provided
in (6) above.
shares of
company
will also acquire all
property and cash in the hands of the trustee of the old
company and the trustee of Willys-Overland,
Inc., except (1) all sums
required for payments and distributions to be made
pursuant to the pro¬
visions of the plan and the orders of the
District Court;
new
company of $409,500
and assets.
as
.
(2) payment to the
provided for in the plan; (3) certain property
(3) $5,900,000
5% cumulative preferred stock (par $25)
Common stock (par $1)__
as
Erovided, right, by that each and every with the trustee
the however, written notice filed holder of an unsecured claim shall
before the
ave
or
date
6,000
All shares of stock of this
company to be outstanding under the plan shall
be fully paid and non-assessable.
It is contemplated that all of the com¬
__
principal
amount of claims owned
by creditors electing to participate under this
option) of the following:
(а) 1,102,850 shares of common stock (par $1) of the new company; and
(б) 6,000 shares of common stock (par $1) of the Real Estate
company;
Empire has agreed to take the alternative last above mentioned.
mon
stock of this company will be
outstanding under the plan and so much
as is
necessary for distribution to holders of gold bonds
and unsecured claims.
To the extent that its authorized
preferred stock
is not necessary for issuance under
the plan, the same will remain unissued
and the
necessary legal steps will be taken in due course to reduce the author¬
ized amount of
preferred stock accordingly.
of
on
10th day after confirmation of the
plan by the District Court, or such later
as the Court
may fix, to elect to take 5% cumulative preferred stock
of the Real Estate
company equal at its par value to 12 H % of the principal
amount of its claim and its
pro rata proportion (based on the
$1,925,000
...
Unsecured Claims
$563,749 contingent claims (not determined at this time), but
only to
the extent, if any, allowed
by the Court.
Each and every holder of an unsecured claim shall be entitled to
receive:
An amount in cash
equal to 25% of the principal amount of its claim;
IThe Real Estate company shall
accept said properties subject to the bal¬
ance payable on account of
unpaid taxes and assessments as set forth in
the plan.
The authorized capital stock of the
Real Estate company is to be
follows:
1253
taxes and assessments exqept taxes and assessments on
account of the por¬
tion of the property to be owned
by the new company, becoming payable
in December, 1936 and thereafter.
the preferred stock
Offering of Additional New Securities of the New Company to Be Sold for Cash
and the Underwriting
Thereof
During the 60 days
next following the day on which the new securities
ready for distribution under the plan, the Real Estate
company will
purchase at $20 per share
(namely, 80% of the par value) any shares of its
preferred stock tendered to it, and
any such shares of its preferred stock
sold and purchased
by the Real Estate company shall be canceled and re¬
are
For the purpose of providing
working capital for the new company to
the end that it will have
approximately $3,500,000 as deemed advisable by
the trustee and Sanderson &
Porter, to enable it to operate at the rate of
tution
operation presently contemplated, provision is made for the
offering for
subscription and for the sale of additional new securities of the new
and
As set forth above, up to but not
exceeding 40,950 shares of 6% convertible
preferred stock are issuable to holders of gold bonds other than
Empire.
The remainder of the authorized
preferred stock of the new
tired and
no shares of its
preferred stock shall be issued in lieu or in substi¬
thereof.
The New
Company—The new company, after the transfer to the Real
Estate company of assets as
provided, will acquire all of the property and
assets (as provided in the
plan), will carry on the business of
manufacturing
company,
selling automobiles, and .will be financed through the
payment to it by
the trustee of
$409,500 and the sale of units consisting of shares of its
pre¬
ferred and common stock.
The properties of the new
company will be
free and clear of all liens and
encumbrances except certain taxes for the
year
1936 becoming payable in
December, 1936, the amount of which has not as
yet been determined.
It will be free from debt except for
liability for work¬
men's compensation not to exceed
$75,000, which will be payable from time
to time as part of the
operations, and such taxes.
The properties and assets
to be owned
by the new company are those which in the opinion of toe trus¬
tee and of Sanderson &
Porter provide adequate
manufacturing facilities
at tne rate of
operations presently contemplated for the new
company.
The authorized
capital stock of the new company is to be as follows:
namely, 309,050 shares, together with a like number of shares of the com¬
mon stock of the new
company, are to be sold in units consisting of one share
of preferred stock and one share of common stock
at the price of $10 per
unit.
The $409,500 to be paid to the new
company by the trustee, plus
the proceeds from this offering, will amount to
$3,325,000, after payment of
$175,000 towards expense of underwriting.
All common shares of the
new company
accompanying shares of preferred stock of the new company
deliverable to the purchasers of units are to be issued in the first
instance
against properties to be acquired by the new company.
Subscription Certificates—The holders of the preferred and common stock
of the old company shall have a
prior right to subscribe to the above men¬
tioned 309,050 units
(each unit to consist of
preferred
To Be
one
stock
follows:
as
Outstanding
'
6% convertiblepref.
Authorized
stock
(cum.),
par
$10
-
common
stock
Both the Real Estate
company and the new company, and the subsidi¬
new
company, and their respective properties, shall be free
from
any claim or lien based on the gold bonds or the
other claims entitled to
participate in the plan, except the lien upon the
property for the balance
due for taxes
amounting to $300,000.
Treatment
of Existing Claims and Obligations
(1) Claims and Obligations Not Affected by the Plan
(а) Liabilities of the Trustee—Liabilities of the
trustee, expenses and al¬
lowances entitled to preference or
priority of payment or lien under the
provisions of the Bankruptcy Act, to the extent
not paid by the
trustee
shall be paid in cash in full or assumed
by the Real Estate cpmpany.
(б) Priority Claims—Claims entitled to preference or
priority of payment
or lien under the
provisions of the Bankruptcy Act, to the extent
not paid
by the trustee, shall be paid in cash in full or assumed
by the Real Estate
company to the extent (if any) that the asserted
right to priority shall be
finally established in the reorganization proceedings.
$2,741 of mechanics'
liens shall be paid.
(c) Contracts—Certain contracts of the trustee for
tools, dies and other
materials desirable or useful in connection with
the manufacture of
auto¬
mobiles shall be assumed by the new
company and are not affected
by the
Except as provided, all other obligations of the trustee
under any
executory contracts, leases and (or) agreements entered
into, made, con¬
firmed, assumed or adopted by the trustee shall be assumed
by the* Real
Estate company and, as such, are not affected
by the plan; and all other
executory contracts of the pld company and
Willys-Overland, Inc. shall
be deemed to have been rejected and disaffirmed
by the plan.
(d) Taxes—All taxes now due and payable by the old
company or WillysOverland, Inc., or by the trustee or in respect of their
property, shall be
paid as follows:
(1) By the trustee to the Collector of Internal Revenue of
the Tenth
District of the United States, $51,844 in cash in
payment of excise
the
to pin-chase the number of shares of
stock, or fractions
therein at any time within the period therein
contain such other terms and
inconsistent with the foregoing as Empire shall
determine,
,
Subject to the rights conferred upon the holders of the preferred and com¬
stock of the old company as set forth above, and as evidenced
by the
subscription certificates to be issued to them, any holder of gold bonds,
unsecured claims or preferred or common stock of the old
company may
subscribe to units, on a subscription blank to be
supplied for that purpose,
in any amount such holder
may elect.
All subscriptions shall, however,
be filed with City Bank Farmers Trust Co.
(depository), 22 William St.,
N. Y. City, on or before the 35th day
following the day upon which the
plan is confirmed by the District Court, as follows: In the event available
mon
units
are insufficient to fill such
subscriptions in full, the available units
shall be divided pro rata according to
subscriptions filed.
Each subscrip¬
tion must be accompanied by a certified check
payable to the
Farmers Trust Co. in
All funds
amount
an
City Bank
equal to $1 for every unit applied for.
received shall be applied so far as they shall suffice in
payment
of units deliverable to the subscribers, the balance of the
purchase price of
such units being payable upon demand.
so
Underwriting—It is expected that on confirmation of the plan by the
District Court, Empire will enter into an
underwriting agreement with
responsible parties.
It is a condition of the plan that such underwriting
be secured.
The proposed underwriting agreement provides that for their
services
the underwriters shall receive a total of 250,000 shares of common
stock
of the new company, to be divided among them, and to cover
their expenses
and as additional compensation shall also receive
$175,000.
New
Company Activity
It is proposed that the new company will manufacture a line of
auto-j
mobiles to be sold at prices the same or
slightly higher than the present-
price of the automobile which is
now
trustee.
being manufactured and sold by the
*
Management
The management of the new company shall be vested in
a
board of direc¬
tors of not more than 12 in number.
The Chairman of the board of directors is to be Ward M.
the President is to be D. R. Wilson.
Forma
Pro
Balance Sheet
of the New Company
Assets—
000
towards
$175,underwriting
expense)
Inventory
on
Canaday, and
Consummation
of Plan
Liabilities—
Cash (after payment of
Reserve for workmen's
pensation
$3,325,000
Non-productive
supplies and service parts
book values) as of April
6%
common
surplus
com¬
claims
cum. pref. stk.
Total
—
(est.), as of April 30, 1936.
Investments in subs, (ad ad],
$75,000
3,500,000
(par $10).
capital
and
all,226,337
75,000
30,
1936:
Willys Export Corp
Willys-Overland
Pacific
Co
Willys
133,539
1,112,859
-
Overland
Parts
Corp.
199,081
Fixed assets (at going concern
values
as
fixed by
West
Brothers, Inc.):
Land..
Buildings
,
not
Privilege of Subscription Subject to Prior Right to Subscribe Conferred by the
Subscription Certificates
operations;
,
exercised
determine, shall be transferable and shall
conditions
(3) The Real Estate company will agree in
writing to pay any unpaid
due to the United States for excise and income
taxes payable
by the
receiver of the old cpmpany and the trustee of the old
company and the
trustee of Willys-Overland, Inc., incurred by them in their
The Real Estate company shall accept the property (as
providkl in
the plan) subject to a lien for taxes ill the sum of
$300,000, which shall be
payable to the Treasurer of Lucas County, Ohio, as follows:
$100,000 on
July 1, 1937', $100,000 on July 1, 1938, and $100,000 on July 1,
1939;
(5) Payment to the Treasurer of Lucas County, Ohio,
pursuant to parargraph (2) and the conveyance to the Real Estate company of the
property
(as provided in the plan) subject to the amounts specified in
paragraph (4)
shall be in full payment of all taxes, real and personal,
penalties and interest
thereon payable by the old company to the Treasurer of
Lucas County,
Ohio, except taxes and assessments for the year 1936, and the
balance of
$300,000 payable as stated in paragraph (4).
The property (as provided for in the plan) to be owned
by the new com¬
pany shall be released and discharged from any and ail liens on account
of
umess
subject to the approval of the Court.
sums
(4)
thereof, set forth
provided, and
period shall become and be null and void.
Each certificate
shall provide for the method of payment of the
subscription price and for
such
other conditions as the District Court
may approve.
The sub¬
scription certificates shall be in bearer or registered form as Empire shall
taxes
to be in payment in full of the
liability of the old company;
By the trustee to the Treasurer of Lucas County,
Ohio, $100 000
same
(2)
holder
within such
plan.
In cash;
share of 6% convertible
of the new company)
available for distribution to stockholders until the
expiration of the 35th
day next following the day upon which the plan is confirmed
by the Dis¬
Court.
Each subscription certificate shall entitle the holder thereof
follows:
aries of the
one
stock
common
trict
of
the new
company which are
not to be
outstanding under the plan are to be
150,000 shares for sale to the principal
executives and
employees of the new company as the board of directors
shall determine and
up to but not exceeding 700,000 shares for
issuance to preferred stockholders
upon conversion of preferred stock.
The remainder
may be issued in any
manner provided
by law. for any proper corporate purpose.
as
of
Subscription certificates will not be issued prior to confirmation of the
plan by the District Court but will be issued within 10 days thereafter.
They will be valid from the date upon which such certificates are made
assessable.
reserved
share
(б) For each 17 shares of common stock of the old company the holder
thereof shall be entitled to subscribe for one unit.
provisions of the plan.
b Subject to increase to
the extent that holders of
gold bonds (other than
Empire) elect to take only common stock of the new
company pursuant to
provisions of the plan.
All shares of preferred stock of the
new company to be
outstanding under
the plan are to be issued for
cash at $10 per share and are to be
fully paid
and non-assessable.
40,950 of the shares of preferred stock are distributable
to holders of
gold bonds (other than Empire) if they so
elect, and in connec¬
tion with such
right, and even though any of the holders of said bonds
elect
to take
only common stock of the new company, the trustee is to
pay into
the new
company $409,500.
The remaining 309,050 shares of
preferred
stock of the new
company are to be issued for cash at $10 per share
pursuant
to the
offering for subscription and the underwriting provided for.
All shares of preferred stock of
the new company issued under the
plan
to holders of gold bonds and all
shares of common stock of the new
company
to be
outstanding under the plan are to be issued for and in
consideration
of the payment
by the trustee to the new company of $409,500 and the
transfer assignment,
conveyance and delivery to it of the
properties and
assets, real and personal, as provided for, and are to be
fully paid and non¬
The 890,950 shares of
authorized but which are
and
(а) For each share of preferred stock of the old company, the
of record thereof shad be entitled to subscribe for one
unit; and
Under Plan
$3,500,000
a$3,500,000
2,850,000
bl,959,050
a
Subject to reduction to the extent that holders of
gold bonds (other than
Empire) elect to take only common stock of the new
company pursuant to
Common stock (par $1)
company
for cash.
Equipment
Total
219,235
4,756,427
4,980,195
$14,801,337 I
Total
$14,801,337
(2,850,000 shares to be authorized, par $1), to be issued:
preferred shares, 309.050 shares; in
payment of assets acquired,
1,400,000 'shares;
compensation
to
underwriters,
250,000
shares;
0
a
Common
with
Financial
1254
1,959,050 shares.
To be reserved for sale to executives and em¬
ployees, 150,000 shares; for preferred stock conversion and in lieu of pre¬
2,850,000 shares.
•
• •
Pro Forma Balance Sheet
of Willys Real Estate Corporation
Liabilities—
Assets—
$1,006,348 Accounts payable
Notes & acc'ts receivable
120,025 Unpaid payroll.
Inventories
114,658 Taxes:
Other than Lucas County.
Investments
64,852
Lucas County taxes
Misc. notes & accts. receiv__
35,099
Fixed assets
2,573,841 Insurance
Due from Willys Export Corp.
123,355 Workmen's compensation
Cash
$34,853
_
Preferred
4,562
stock
1,925,000
Common stock ($ 1 par)_
_
,
_
6,000
_
!„_■
Surplus
1,554,080
Total.
$4,038,1$2
Total
11,776
200,173
300,000
1,735
$4,038,182
The above balance sheet is based on the liquidating
values of the assets
by this company on consummation of the plan as shown on
report of trustee filed in these proceedings on July 24, 1936, and assuming
the trustee's liabilities of $888,675 are to be liquidated from inventory;
Corp.—Dividend Plan—
Yosemite Portland Cement
total,
ferred stock, 740,950 shares; total,
Aug. 22, 1936
Chronicle
Stockholders will vote on Oct. 9 on plan of
reorganization whereby each
exchanged for one share new 4% non-cumulative pre¬
ferred stock.
Accumulated dividends will be cleared up by exchanging
)4 share new preferred for each $10 arrearage.
Non-converting class A
shares under plan will be entitled to receive their pro rata share of present
surplus, this amount to be paid them at a 4% annual rate after payment of
new preferred dividends, and payments to continue until their pro rata
share of present surplus was received.—V. 135, p. 4230,
•
class A share will be
Youngstown Sheet & Tube Co.—Two Subsidiaries
Liquidated—Another Subsidiary Doubles Capital—
The company has notified the New York Stock Exchange that the
Youngstown Corp., a subsidiary, was liquidated effective July 27, 1936;
that Rex Pipe Line Co., another subsidiary, is now in process of liquidation;
and that the capital stock of Continental Supply Co., another subsidiary,
has been increased from $5,000,000 to $10,000,000, effective July 29, 1936.
—V. 143, p..608.
to be owned
cash by the trustee of all compensation and expenses
contemplated by the plan, estimated at $500,000; mechanics' liens, $2,741;
Collector of Internal Revenue, $15,844; Lucas County taxes of $100,000;
payment of 25% to creditors who have not sold to Empire, and payment to
Willys-Overland Motors, Inc.,*of $409,500, as provided for in the plan;
and the recording of a liability of $300,000 in respect of Lucas County
taxes.—V. 143, p. 1098.
and the payment in
Wilkes-Barre Connecting RR.—Bond
Offering Proposed
The Pennsylvania RR. and the Delaware & Hudson Co. plan to sell
$2,186,000 of 1st & improv. mtge. bonds of Wilkes-Barre Connecting RR.,
owned in equal amounts by them, to Graham Parsons & Co. at 101, with
interest on the bonds reduced from 5% to 3%.
This plan is revealed in the authority received from the Interstate Com¬
merce Commission
by the Pennsylvania to jointly assume obligation and
liability with
Hudson Co. with respect to the $1,093,000 of
Delaware &
the bonds held by the Pennsylvania.
The bonds are dated May 1, 1917, and mature
May 1, 1947. Interest
paid at 5%, but effective from and after May 1, 1936, to the date
the sale agreement, the interest rate will be 3%.
has been
of maturity, under
Wisconsin Electric Power
Income—Rent from lease of electric plant....
Interest._
Total income
taxes
Gross income
Interest
.
funded debt
on
Amortization of bond discount &
expense
Other interest charges
Interest during construction
Other deductions.
p.
$3,233,574
$1,365,554
Wisconsin Gas & Electric Co.—Earnings—
Operating expenses
Maintenance
I
Provision
for
income
Prov. for deprec.
:
...
Interest
_
245,886
.
137,943
on reserve
balances)
$1,328,216
484,720
20,109
9,209
-
...
Other interest charges.
Interest during construction
Other deductions
142,
p.
508,450
18,179
9,35o
3,449
$609,287
^
Cr o73
$314,684
Period End. June SO—
al936—6 Mos.—1935
al936—3 Mos.—1935
$3,856,187
1,182,890
139,786
324,148
b302,900
174,704
206,518
314,672
$4,215,783
1,279,042
146,497
237,839
494,785
b596,403
$733,891
1,477
$562,868
2,519
$1,461,215
4,879
$1,179,844
6,446
$1,902,249
569,122
Maintenance
106,924
Provision for retirement-
262,758
....
Power
*.
Net oper. income
Other income (net)
this city.
member New York
Stock Exchange, and Arthur Ullman.
Harry Kahn, Emma Y. Kahn and
Elna K. Shulof are special partners. This follows the dissolution of Guggenheimer & Ullman
—John
of Aug.
as
74,363
shortly, and his offices will be located in the Field
(net)
count and expense
Net income before pre¬
ferred dividends...
$1,466,095
840,493
<•
6,533
.,186,291
883,063
9,974
21,639
69,445
43,280
dealing with its history, current
—Taylor, Duryea & Co., Inc., have opened offices in the
135 South La Salle St., Chicago, to act as
and
Cr23
Cr59
152
Principals of the new firm
C.
Paul
Baichly
been
Baichly,
■
$549,470
$97,665
$249,914
(& Subs.)—Earnings—
1936
12 Months Ended June 30—
Operating revenues
Operating expenses, maintenance and all
1935
$7,548,127
taxes—4,360,536
$7,067,479
$3,187,591
27,651
4,286,317
30,550
D. M. S.
Ryan,
year
$3,215,242
914,999
$2,811,712
777,519
Amort, of debt discount and expense.
60.957
Other income deductions
24,000
18,000
$883,910
Daniel
J.,
collection figures for the first half of each
from 1933 to 1936, inclusive, for 49 cities in the State of New Jersey.
Co., Inc., 39 Broadway, New York, has
prepared a
Included in the study is a graphic
study of the prospects for bank stocks.
analysis of the record of the Chase National Bank during the last 10 years.
—Fenner &
opened
Beane, members of the New York Stock Exchange,
office in Pensacola,
an
30 West Garden St., under
have
Fla., in the San Carlos Hotel Building,
the management of B. F. Hamel.
.
•
—Sidney R. Donner, formerly head of the Statistical Department for
Gruntal
Co., is
in charge
now
associated with Paul E. Kern & Co., Inc.
He will be
of their Reorganization Securities Department.
—Schoellkopf, Hutton & Pomeroy, Inc., investment banking firm, an¬
the
nounces
B.
—E.
their
$568,898
1,331,365
"
opening of
Philadelphia office under the management of
a
Gordon.
in
addition to the regular quarterly dividend of 10 cents per share on the
common stock,
no par value, both payable Oct. 1 to holders of record
Sept. 8. Like amounts were distributed in each of the 10 preceding quar¬
ters, prior to which the company made quarterly distributions of 5 cents
per share, and in addition paid an extra dividend of 5 cents per share on
Jan. 2, 1934.—V. 142, p.,3534.
Mackenzie has become (associated with Goodbody & Co. in
Hillye
man
office
as
manager
Pizzini &
of their Commodities Department.
52 Broadway, N. Y. City, have issued their
Co.,
monthly bulletin of guaranteed railroad stock statistics.
—Allen &
Co., 20 Broad St., N. Y. City, have prepared a circular on the
plan and scale of Homestead Fire Insurance Co. rights.
—Carreau & Co., 63 Wall St., New
Seaboard Oil Co.
Wright-Hargreaves Mines, Ltd.—Extra Distribution—
The directors have declared an extra dividend of 5 cents per share
„
Vice-President.
—B. W.
$2,034,192
1,350,118
97,175
779.
Mr. Taylor having
Mr. Heiss sales manager and Mr. Baichly
'
$2,300,242
p.
manager,
Mr. Duryea was formerly associated with the Invest¬
Hegarty & Co., Inc., with the following officers:
—F. Eberstadt &
(before approp.
Appropriation for retirement reserve
Messrs. Taylor, Heiss and
Hegarty, President; Edwin S. Robinson, Vice-President, and Ralph
James
Net oper. rev. & other income
for retirement reserve)
143.
representative.
—Colyer, Robinson & Co., Inc., 1180 Raymond Blvd., Newark, N.
$2,781,161
(.before approp. for retire, res.)..
income
G. Taylor, President; L. N.
Management Corporation.
M. S.
58
profits.—V. 142, p. 4360.
Wisconsin Public Service Corp.
formed to. continue the business
Carroll
—Hegarty, Conroy & Co., Inc., announces a change in its corporate
that,
for Federal surtax on undistributed
Net income
Iowa
has prepared for distribution tax
$278,677
was
are:
formerly associated with Lobdell & Co.,
were
Chicago resident
ment
T
•
due to refunding operations by the Wisconsin
the company has no Federal or State
months of the current year.
Accruals
for such taxes to June 30 have therefore been reversed and provision for
retirement has been correspondingly increased.
The 1936 columns of this
statements give effect to these adjustments,
b No provision has been made
estimated
The firm
corporation bonds.
Field Building,
dealers in municipal, land bank
formerly conducted in Chicago by Lobdell & Co.
name to
Power & Light Co. in June, 1936,
income tax liability for the first six
—V.
Electric Co.,
operations and financial position, owner¬
booklet on the Pacific Gas &
have prepared an illustrated
and
$565,387
441,255
4,885
.
Net oper. rev.
Co.
and investors, Wm. Cavalier &
of dealers
—For the information
618,258
$735,368
407,431
3,007
Minority int. in net in¬
come
of
subsidiary,
Sumpter Light Co
Other
in municipal securities.
Salle St., Chicago, to deal
Duryea, Vice-President and Treasurer; Herbert P. Heiss, sales manager,
Amortization of debt dis¬
is
La Forge
Building, 135 S. La
411,259
46,274
Gross income.
Funded debt interest
It
Morris Mather & Co., and prior
Co., will form the firm of John G.
thereto with Donald O'Neil &
& Co.
^
15, 1936.
La Forge, formerly with
G.
Iowa representative.
a
the formation of Ullman Brothers,
Exchange, with offices at 50 Broadway,
of the new firm are William Ullman,
General partners
(& Subs.)—Earnings—
$2,095,962
626,479
63,009
Total oper. revenues
General interest
Mr. Adams
in underwriting activities.
ship and with the investment position of its securities.
3701.
Operation
purchased
Syndicate Department.
—Announcement has been made of
members New York Stock
189,351
2,823
;
Wisconsin Power & Light Co.
Taxes
Drl3,520
Adams & Co., has
Amsterdam Corp., 20 Pine
banking since 1913 and is well known
throughout financial circles, particularly
$1,042,896
Cr284
Net income
—V.
$1,056,416
.
202,350
depreciation reserve balances...
on
626,775
$1,311,154
17,062
...
Amortization of bond discount & expense.
Interest
663,260
121,275
715,959
taxes
(excl. of int.
funded debt.
on
$5,691,457
2,936,238
287,491
652,315
Net operating revenues
Non-operating re venues..
Gross income.
_
Vice-President of the First New
a
St., New York City, in charge of its
1935
$5,927,169
2,863,911
.
NOTICES
•—Graham^Adams, formerly President of Graham
has been identified with investment
1936
Taxes, other than income taxes
first page of this department.
CURRENT
been elected
i.
1936, was
Pacific Tin Corp. on June 30,
Cr 19
$1,038,773
12 Months Ended June 30—
$240,498
6.9 cents
....
Co.—Registers with SEC-
Zechmar Solomit
See list given on
3,324
982,648
3701.
Total operating revenues
13.3 cents
$2,716,908.—V. 143, p. 130.
400,900
74,949
706
Crl82
..
1.114,600
2,133,200
$463,803
3.1 cents
Company's indebtedness to
367,500
1936—6 Mos.—1935
519,900
$107,150
5.2 cents
Net profit per share—_
$2,828,064
'
955,100
$181,531
Pounds tin produced—
Net profit.
—
38,010
the results obtained by subsidiary
regards, the figures for production)
1936—3 Mos.—1935.
Period End. June 30—
18,399
894,958
Net income
142,
$3,215,174
_
Appropriations for depreciation reserve
—V.
»
included in these figures
are
$2,412,210
374,200
97,979
4,499
_ _
Provision for income
wide fluctuations.
$2,748,996
34,050
302,735
..
Expenses
1935
$2,739,635
9,360
..
...
quarter of 1936 and in
companies after allowance (except as
for minority interests.
1936
12 Months Ended June 30—
in report to stockholders states:
obtained by company in the second
the first six months of 1936, together with the results
in the corresponding periods of 1935, is given below. In each case the esti¬
mated profit is calculated after all known charges other than depreciation
and depletion. United States income and other taxes have been calculated,
for the current quarter and for the first six months of 1936, on the basis of
the 1936 Revenue Act recently enacted; except that the effect, if any, of
the tax on undistributed profits has not yet been determined, and no deduc¬
tion has been made on account of such tax.
Attention is again directed to the fact that frequently a considerable part
of the tin produced in one quarter is not sold until the early part of the en¬
suing quarter, and that for the purpose of these quarterly reports such unsold
tin is taken into the accounts on the basis of the market price ruling at
about the time these reports are prepared.
For this reason, and because
the accounts for the quarter may be incomplete in other particulars, these
reports must be considered tentative and approximate.
Both the_ grade
of the ground dredged and the amount of production permissible under the
international restriction agreement, may vary greatly from one period to
another, with the result that quarterly profits may be subject to unusually
of the results
brief summary
There
Co.—Earnings—
—Report—
Yukon Gold Co
S. W. Howland, President,
A
of Delaware.
York, have prepared an analysis of
1
—Bristol & Willett, 115 Broadway, New
current
offering list of baby bonds.
—The
the
current
electrical
"Review"
of Estabrook &
'
Co.
♦
contains
a
discussion of
equipment industry.
—Samuel R.
a
.
York City, are distributing their
Winslqw,
a
partner of Dyer, Hudson
member of the Commodity Exchange.
& Co., has been elected
Volume
143
Financial
Chronicle
1255
The Commercial Markets and the
Crops
COTTON—SUGAR—COFFEE—GRAIN—PROVISIONS
PETROLEUM—RUBBER—HIDES—METALS—DRY GOODS—WOOL—ETC.
COMMERCIAL EPITOME
Friday Night
Sugar—On the 17th inst. futures closed
unchanged to 2
Aug
' Points higher.
Sales totaled 300 tons.
In the market for
raws offers were little changed over the week-end
Two
cargos and several parcels of Puerto Ricos were offered at
1936
17th inst, futures closed 4* to 8
points
higher for Santos contracts with sales of 8,750 bags.
Old
Rio contracts closed 4
points higher with transactions totaling 10,000 bags.
New Rio contracts closed 6 to 7 points
higher with sales of 7,500 bags.
Rio de Janeiro futures were
unchanged, as was also the exchange rate and the official
No. 7 price.
Cost and freight offers from Brazil held steady
Coffee—On the
with
Santos Bourbon
generally at from 9.30
Brazilian weather was warmer with minimum
21
to
September
9.45c.
degree mark.
1V4 francs lower.
On the 18th inst. futures closed 8 to 13
points higher for Santos contracts.
This brought prices for
this contract within 4 to 12
points of the seasonal highs made
a week
ago.
Old Rio contracts closed 6 to 9 points higher
with transactions of 7,000
bags. The new Rio contract closed
6 to 7 points higher with sales of
4,250 bags.
Rio de Janeiro
.
Rio contracts closed
unchanged to 2 points lower with sales
bags.
Rio de Janeiro futures were unchanged to
25 reis higher.
Cost and freight offers from Brazil were
generally unchanged with Santos 4s at from 9.30 to 9.45c.
Havre futures were W to
1M francs
Refiners
of 3,500
.
sugars^consisted of 10,000 bags of Puerto
Ricos, loading
Sept. 30, at 3.40c,
National Sugar Refining Co. was the
buyer.
A cargo of 25,000 bags of Cubas which has been
recently offered at 2.80c. and is stiU available at that price,
1®n,0^
e m New York Saturday. The owner has
stated that the sugar will be stored unless sold at that price
or better.
Other than that lot, which is equivalent to 3.70c.
Santos contracts, with sales
totaling 258 contracts.
Old Rio
points down, with sales of 21 conNew Rio contracts closed 6 to 8
points down, with
25 reis
higher.
Cost and freight offers from Brazil were unchanged
with Santos 4s still quoted at 9.30 to 9.45 cents.
Havre
futures were % to \\i francs lower.
Rio coffee prices closed as follows:
'
"
^^
S
aire
7.' ?' an(^ up. London
Md. lower to ^. higher while raws were
reported sold at 4s. to hyid., or about .84e. f. o. b.
Cuba,
.
--.4.761
Santos coffee prices closed as follows:
.8.961September._„
March
with further sellers
at that price.
Today prices closed unchanged to 2 points down.
Trading was a little more active,
^ prices kept within a narrow
range.
There was little
change in the raw sugar market.
Refiners were believed
willing to pay 3.70c., while sellers wanted 3.75c.
London
futures were unchanged with transactions
totaling 500 tons.
In the local market transactions totaled 133 contracts,
8.90
~ 11ZIII ~ 11II1111111119 ".02 ]
.«
~
Cocoa—,On the 17th inst. futures closed
unchanged to
4 points up.
Trading was light with fluctuations narrow,
What activity there was confined itself
largely to local
operators.
Spots were dull.
Switching continued from
September to the future deliveries.
Transactions totaled
125 lots or 1,675 tons.
Closing: Sept., 6.24; Oct., 6.28;
Dec., 6.37; Jan., 6.42; Mar., 6.49; May, 6.57; July, 6.64.
July
Prices
1 point higher to 2
points
2,412 tons.
The feature of
the trading was switching operations.
There was some
liquidation in September but it appeared well taken by the
trade.
Closing: Sept., 6.24; Dec., 6.38; Mar., 6.49; May,
6.57; July, 6.64.
On the 19th inst. futures closed unchanged to 2 points higher.
Sales totaled 128 lots or 1,715
tons;
Profit taking and hedge
selling were in evidence but
these offerings appeared to be well absorbed
by the demand
from
Sales totaled 180 lots
the
Wall
Street
element
and
the
trade.
Switching
follows:
2*46
"
September1111111111" 11112 .*741 November".7."." 11111111"
Lard—On
lower.
or
operations continued although on a smaller scale.
The spot
market was quiet.
Local closing: Sept., 6.25; Oct., 6.27;
Dec., 6.39; Jan., 6.42; Mar., 6.50; May, 6.58; July, 6.65.
On the 20th inst. futures closed 5 to 6
points higher.
A
wave of buying from manufacturers sent cocoa
futures to
new 3-year highs.
Trade interests and commission houses
were also good buyers.
There was considerable hedge selling in evidence.
Volume of business totaled 494 lots, or
6,620 tons.
Closing:
Sept. 6.30; Oct. 6.33; Dec. 6.44;
Jan. 6.47; March 6.55; May 6.63; July 6.70.
Today futures
closed 6 to 7 points up.
Trading quite active with the market very strong.
Manufacturers were reported to be active
Selling was mainly profit taking, although hedge
buyers.
selling was also reported.
.The turnover was unusually large,
sales totaling 576 contracts.
Warehouse stocks increased
7,421 bags, and now total 719,000 bags.
Local closing:
Sept. 6.36; Oct. 6.39; Dec. 6.51; Jan. 6.54; March 6.61;
May 6.70; July 6.77.
were as
March—
On the 18th inst. futures closed
lower.
,
futures closed
—.4.71
December
September
increases in the Cuba quota for
shipment here made by ^ Agricultural Adjustment Adminministration. .However 50 200 t9ns necessary to bring the
Cuban quota, in line with that given by the AAA are still
.retained against final weight and test on the sugars already
shipped.
London futures closed unchanged to /id.
lower,
while raws were reported quiet and unchanged.
On the 20th inst. futures closedunchanged to 1 point lower.
*
Sales were 3,950 tons.
Further September
liquidation
was m evidence, first notice day being next
Tuesday«
In the
market for raws the firstopenly reported sale of 1937 quota
contracts closed 16 to 19
4.6i|March
further suitable
r^.ease ^as against recent
1,000,000-bag mark, was not considered a factor in trade
circles.
Cost and freight offers from Brazil were about
unchanged, with little being done.
Havre closed 1 to 1M
francs lower.
Today futures closed 14 to 23 points down for
September
m
Froni Havana
came reports that Cubas
President had approved the release of 40,814 tons from
segregated stocks for shipment to the United States.
This
higher.
were
6 August Puerto Ricos at 3.70c.
w -1!e 011 0Eie ?
5
3.80c., slightly less, it was understood,
are reported interested
? 9C*
On the 20th inst. futures closed 3 to
5 points lower for
Santos contracts, with sales of
21,750 bags.
Old Rio contracts closed 3 to 4 points
lower, with sales of 3,750 bags,
New Rio contracts closed
unchanged to 1 lower, with sales
of 8,000 bags.
Rio de Janeiro futures were 25 reis lower to
25 reis higher.
The fact that clearances from Brazil of
115,000 bags sent the Brazilian U. S. visible supply above the
Rio de Janeiro futures
at
njight be acceptable. It was also reported that 1937 quota
Puerto Ricos, August shipment were offered at 3.40c., with
refiners indicating that they would pay that much for
November shipment. London futures closed unchnaged in
both raws and futures, with trading quiet. On the 19th inst.
oUji™e?
se4 unchanged to 1 point higher. Sales were
3,600 Ions. In the market for raws Arbuckle bought 2,500
bags °J Puerto
R^os clearing Sept. 2 believed to have
^eaFe(* ^be market of Puerto Rican offers at that level.
temperatures ranging from
Havre futures were % to 1 franc lower.
On the 19th inst. futures closed 2 to 4
points lower for Santos
contracts with sales of 17,000
bags.
Old Rio contracts
closed 2 points lower with sales of
3,750 bags, while the new
tracts.
There was very little trading in London
Saturday, and only 500 tons done Monday.
Futures there closed unchanged to Ad. higher, while raws,
afloat, were reported sold at 4s. 4/£d., or about .84c., f. o. b.,
Cuba. On the 18th inst. futures. closed unchanged to 1
point lower. Sales totaled 1,700 tons, the majority of which
we.re confined to 1937 positions.. In the market for raws the
only change was the addition to the Cuban lot offered at
sugars
^ 01?e ?f.r
?u
Sos,
degrees.
sales of 32 contracts.
one cargo of St. Croix.
One cargo of
available at 2.80c. for second-half
on
Philippines offered
futures were 50 to 150 reis
higher.
Cost and freight offers
from Brazil continued to hold
firm, with Santos Bourbon 4s
at from 9.30 to 9.50c.
Rain was reported at all Brazilian
weather points, with minimum
48 1-5 to 59
believed
was
R*tures
temperatures
Havre futures were % to
well above the 50
addition
an(*
Cubas
.
the
15th
inst.
futures
This heaviness of lard
of the grain markets.
with the top price of
The
closed
2
"1*47
111112 .'73
to .7
points
attributed to the weakness
Chicago hog market was steady,
was
the day unchanged from
Friday at
$11.60.
It appears to be the general belief
that prices
will soon touch the $12 level.
Western hog
receipts on
Saturday totaled 11,000 head, against 11,000 for the same
day a year ago.
Liverpool lard futures* were steady on
Saturday, with prices closing 3d. to 6d. higher.
Lard
shipments from the Port of New York were light and totaled
15,000 pounds to Manchester.
On the 17th inst. futures
closed firm with prices 17 to 30
points higher.
The pronounced strength in this
commodity was attributed to the
strong grain markets, also the firmness of
hogs.
There was
considerable realizing sales on the
bulge, but the offerings
appeared to be well taken, prices closing at near the
top
levels of the day.
The lard stocks report, issued after the
close
of
the
market
on
Saturday, showed an increase of
2,067,000 pounds since July 31, 1936.
Total stocks now
are 65,892,000
pounds, against 23,735,000 pounds on
Aug.
15, 1935.
Lard shipments over the weekend
were light and
totaled 7,000 pounds for
Southampton.
Liverpool lard
futures continued firm in
sympathy with American markets,
and Monday the nearby positions closed
6d. to 9d. higher,
while the distant January
delivery was up only 3d.
Further
new
highs for the
season were
established in hogs at
Chicago,
the top price on Monday
being $11.85. The bulk of. sales
reported ranged from $9.50 to $11.70.
Total receipts for
the Western run were
57,700, against 46,100 for the same
Financial
1256
day a year ago.
On the 18th inst. futures closed 2 to 7
points higher.
At one time during the session prices showed
a net decline of 5 to
12 points due to realizing and hedge
selling by trade interests.
Later, prices enjoyed a sharp
rally and closed above yesterday's finals.
Hogs were 10c.
to 20c. higher due to the lighter receipts at the Western
markets, which totaled 53,200 against 47,100 for the same
for the day at Chicago was
sales reported ranged from
$9.60 to $11.85.
Export shipments of lard from the Port
of New York have been slightly heavier the past few days.
Clearances as reported Tuesday totaled 85,815 pounds forLiverpool and London.
Liverpool lard futures were again
very strong, and prices at the close were Is. to Is. 3d. higher
on the near deliveries, and Is.
6d. higher on the distant
January delivery.
On the 19th inst. futures closed 3 points
down to 5 points up, with the outstanding exception of May,
which
closed
17 points down.
Pressure of increasing
supplies, due to the continued heavy njarketings, is resulting
in considerable hedge selling on all bulges.
Hog prices at
Chicago declined 10c. to 25c.
The top price of the day
was $11.80.
Western receipts were moderately heavy and
totaled 42,600, against 43,200 for the same day a year ago.
There were no exports of lard from the Port of New York
on
Wednesday.
Further gains were registered in the
Liverpool lard futures market, with prices closing 6d. higher
day last year.
The top price
$12.05, and the bulk of the
on
all deliveries.
points lower.
This decline was pretty close to the lows of the day, and was
influenced by the collapse in the corn market and the drop
in hog prices.
The hog market was again easy, due to the
fairly heavy marketings and the weakness in corn.
The
top price for hogs at Chicago was $11.50, the latter price
representing a break of 55c. from the season high of $12.05
established on Monday of this week.
Many of the sales
reported ranged from $9.10 to $11.40.
Western hog run
totaled 41,300, against 42,000 for the same day last year.
There were no clearances reported from the port of New York
on
Thursday.
Liverpool lard futures were quiet at un¬
changed to 3d. lower.
Today futures closed 10 to 15 points
down.
This commodity continues to be affected by the
heavy reaction of corn and the decline in hog prices.
The
reports of heavy imports of corn from the Argentine appar¬
ently did not go unnoticed.'
futures closed 22 to 27
On the 20th inst.
DAILY CLOSING PRICES
Sat.
OF LARD FUTURES IN CHICAGO
Mon.
Tues.
Wed.
Thurs.
Fri.
September
11.70
11.72
11.75
12.02
12.25
October
11.77
December
11.87
11.80
11.82
11.90
11.82
11.95
12.12
12.22
12.20
12.32
12.45
12.45
-11.92
January
Pork—Mess,
$31
per
11.97
12.17
12.25
12.35
12.40
barrel; family, $30, nominal, per
barrel; fat backs, $22 to $25 per barrel.
Beef quiet; mess,
nominal; packer, nominal; family, $15.50 to $16.50 per
barrel, nominal; extra India mess, nominal.
Cut meats:
Pickled hams, picnics, loose, c.a.f.; 4 to 6 lbs., 16Hc.; 6 to
8 lbs., -15^20.; 8 to 10 lbs., 14c.
Skinned, loose, c.a.f.:
.14 to 16 lbs., 24c.; 18 to 20 lbs., 22He.; 22 to 24 lbs., 20Hc.
lbs., 22c.; 8 to 10 lbs.,
21 He.; 10 to 12 lbs., 20He.
Bellies, clear, dry salted,
boxed, New York: 14 to 15 lbs., 15Hc.; 18 to 20 lbs., 15Mc.;
20 to 25 lbs., 15Hc.; 25 to 30 lbs., 14He.
Butter, creamery,
firsts to higher than extra and premium marks, 35He.
to 36He.
Cheese, State, whole milk, held, 1935, 22He.
to 23c.
Eggs, mixed colors, checks to special packs, 17He.
Bellies, clear, f.o.b. New York: 6 to 8
to 27c.'
relatively inactive.
Deliveries,
however,
continue satisfactory.' Quotations:
China wood, tanks, old crop, 13.6c. to 13.7c.; March, for¬
ward, 13He.; drums, spot, 14He.
Cocoanut, Manila,
tanks, Coast, 4He. to 4He.; spot, 4He.
Corn, crude,
tanks, West mills, 9Mc.
Olive', denatured, spot, Spanish,
$1.35.
Soy bean, tanks, mills, 8He.; new crop, 8He.;
carload drums, 9.2c. to 9.4c.; less carload, 9.7c. to 9.8c.
Edible, 76 degrees, 11c.
Lard, prime, 12He.; extra strained
winter,
11 He.
Cod,
crude,
Newfoundland, nominal;
Norwegian yellow, 38c.
Turpentine, 43c. to 48c. Rosins,
Oils—The
linseed
oil
market
was
$6.85 to $8.65.
Cottonseed
Crude S. E., 9c.
December
January
February
March
sales, including switches,
71 contracts.
Prices closed as follows:
10.25@
August
_10.24@10.27 September
October
10.25@
10.26 @10.27 November
10.40@
10.38 @
10.3'@
1CL25@
prices formerly
appearing here regarding petroleum will be found on an
earlier page in our department of "Business Indications,"
in the article entitled "Petroleum and Its Products."
Rubber—On the 17th inst. futures closed 13 to 15 points
lower.
Transactions totaled 740 tons.
Factory buying in
the outside market was virtually nil.
Outside prices were
marked down He. per pound to a spot basis of 16He. for
standard sheets.
London and Singapore closed quiet with
prices virtually unchanged.
The London Board of Trade
figures showed that during the month of July total imports
of rubber were 90,598 centals, total exports were 107,777
centals, none of which was shipped to the United States.
Local closing: Aug., 16.11; Sept., 16.11; Dec., 16.23; Mar.,
16.35; May, 16.42.
On the 18th inst. futures closed un¬
changed to 3 points higher.
Transactions totaled 230 tons.
Certificated stocks of rubber in warehouses licensed by the
Exchange decreased by 190 tons to a total in storage at the
Petroleum—The summary and tables of
the close of business
1936
London and
Tuesday of 15,120 tons.
Singapore closed quiet with virtually no change in prices.
Local closing: Aug., 16.13; Sept., 16.13; Dec., 16.26; Jan.,
16.29; May, 16.43.
On the 19th inst. futures closed un¬
changed to 2 points higher.
Sales were 470 tons. Spot
ribbed smoked sheets declined to 16.18c. from 16.19c.
Closing: Sept., 16.13; Dec., 16.27; Mar., 16.37; May, 16.45.
On the 20th inst. futures closed 2 points lower to 1 point
Transactions totaled 510 tons.
higher.
sheets
remained unchanged at 16.18.
Spot ribbed smoked
London closed un¬
Singapore was unchanged.
16.11; Dec. 16.27; Mar. 16.38; July
16.54.
To-day prices closed 6 to 7 points down, with the
exception of May which declined but 2 points.
Sales totaled
117 contracts.
'London and Singapore closed quiet, the
former ranging l-16d. lower to l-16d. higher, while the latter
remained unchanged.
Local closing:
Sept. 16.05; Dec.
16.21; March 16.31; May 16.43.
changed
to
Local closing:
Hides—On
higher.
l-16d.
Sept.
the
17th inst.
futures closed 4 to 5
points
higher.
Trading was moderately active, transactions total¬
ing 2,960,000 pounds.
The stocks of certificated hides in
warehouses licensed by the Exchange were unchanged, with
No substantial sales were reported
hide market.
Local closing: Sept.,
10.92; Dec., 11.25; Mar., 11.57; June, 11.88.
On the 18th
inst. futures closed 7 to 9 points higher.
Trading was on a
843,537 hides in store.
in
the
domestic
spot
fairly large scale, transactions totaling 4,040,000 pounds.
The stocks of certificated hides in warehouses licensed by the
remained unchanged at 843,537 hides. . The
hide market was quiet.
In Chicago sales were
reported of 18,500 hides, including 11,000 July-Aug. branded
cows, which sold at 10He. a pound.
Closing: Sept., 11.00;
Dec., 11.32; Mar., 11.66.
On the 19th inst. futures closed
1 point lower to 3 points higher.
Transactions aggregated
2,440,000 pounds.
Sales of 100,700 hides were reported in
the domestic spot markets, including 60,000 light native
cows July-Aug. take-offs at 11c.
Local closing: Sept., 11.01;
Dec., 11.35; Mar., 11.65; June, 11.98.
On the 20th inst. futures closed 3 to 5 points lower.
Trans¬
actions totaled 3,320,000 pounds.
Sales in the domestic
spot markets totaled 47,000 hides, including a large quantity
of light native cows for June-August take-off at 11 cents,
unchanged.
Closing: Sept. 10.98; Dec. 11.32; Mar. 11.62;
June 11.93.
To-day prices closed unchanged to 1 point up.
Trading was active, totalling 2,960,000 pounds to the early
afternoon,
^ales of 35,300 hides were reported in the Chi¬
cago spot market, with light native cows selling at 11 cents,
unchanged. "Final total sales were 91 contracts.
Closing:
Sept. 10.98; Dec. 11.32; Mar. 11.63.
Exchange
domestic spot
Ocean
Freights—The market could be termed very quiet,
with little prospect for
Charters
included:
substantial pick-up.
Lake port to United
KingdomScandinavia 21 He.; September loading.
Prompt delivery Tampico, trip across,
Grain—From
Continent at 19^c., Ireland 20c.,
Trips—West Indies round, $1.15.
$1.10. Trade to Far East, $1.30.
Coal—The market for bituminous,
firm.
though slack, continues
slight improvement.
The domestic market is showing a
Recently the Lake movement has shown some recession,
according to reports.
The demand for anthracite is still
very slow, and prospects are for continued inactivity till the
end of the month.
Only a few independent mines selling at
off prices, are maintaining a good production, it was said.
On Tuesday about 400 cars of bituminous coal were dumped
at New York.
_
.
Copper—There is quite a distinct change in the current
copper situation ais compared with a week ago.
A short
while ago business was so brisk and markets so firm, especial¬
ly abroad—it appeared as though a rise to 10c. from the
present quotation of 9He. was inevitable and only a matter
of a few days.
Today leading producers are implying that
they will not raise the price, and with indications of a general
increase in production, the chances are very remote, accord¬
ing to observers—that there will be any change in price over
the balance of the year.
European markets fell back in the
doldrums and sagged a few points more.
There were no
further announcements of increasing production, but it was
stated
Oil
Aug. 22J
Chronicle
on
stepping
good authority that there will very likely be a
of output on Sept. 1.
up
Tin—Recently prices have shown a pronounced advance,
this being attributed to a strong feeling of optimism to the
effect that the tin restriction agreement will be renewed
despite the difficulties which have been encountered so far
in which the zinc cartel went a few years
ago.
The International Tin Committee reports that exports
of tin from Bolivia during July were 2,129 tons, which of
course is considerably milder than official reports of 3,655
tons which appeared a week ago.
Exports from the Nether¬
lands East Indies were 2,316 tons, from Malaya 6,407 tons,
no reports having been available as yet for Nigeria and Siam.
Tin afloat to the United States 8,443 tons.
Tin arrivals so
and the sad way
far this month have been:
Pacific
stocks were
Atlantic ports, 2,213 tons;
ports, 35 tons.
Commodity Exchange warehouse
unchanged at 255 tons.
Lead—Business in this metal has been
quite brisk, with
indications pointing to a volume of over 10,000 tons for the
week's sales. Some of the producers were selling the equivalent
early in the day.
A few
bought for August shipment, but the
purchasing was for September. It is estimated
of
their production
were
carload lots
bulk of the
that 95% of
Volume
143
Financial
August needs is taken care of, and that 80% of
September
requirements are covered. It is reported that consumers are
trying to buy as far ahead as possible, there being considerable
inquiry for October, but producers seem averse to doing
business that far ahead.
The feeling seems to
prevail that
prices will very likely advance when books are
opened for
October delivery at the end of next
week.
Demand is re¬
ported
as
well diversified.
price here still depends on an advance in London
prices, the
being of necessity 10s to 15s per ton to justify a rise here.
It is reported that further
attempts to organize an inter¬
rise
national zinc cartel will be made in
September.
In all de¬
partments of the zinc industry the shipments are
exceedingly
brisk, suggesting that it will not be long before consumers
are
compelled to replenish supplies on a generous scale. Sales
common
forms of slab zinc last week
were
2,417 tons,
consisting of 2,317 tons of prime Western and 100 tons of
brass special. Unfilled orders for
prime Western on.producer's
books at the end of last week
were 38,028
tons, a decline of
3,014 tons, indicating shipments of 5,331 tons.
It was re¬
ported that all sales were made at 4.80c. per pound, East St.
Louis, on prime Western grade, and that 50% of the sales
were for
August shipment.
Steel—Steel mill activity rebounded to
72.2% of capacity
the current week,
according to the American Iron &
Steel Institute.
This represents the second best week this
for
the top of 74% having been reached during the week
July 4.
The present rate of 72.2% compares with 70%
the previous week and
48.8% for the corresponding week
year,
of
last year.
This reflects
steel industry today.
a
most wholesome condition in the
According to authoritative reports,
demand continues excellent and well
diversified, with pros¬
pects for
demand
the fourth
for
quarter
building steel
most
over
promising.
the
The good
past few weeks and
F. W. Dodge Corp.
months
is explained in part by the
figures for July, showing that new construction was the
highest since June, 1931.
This class of demand is expected
to remain buoyant for
many months to come.
Tin plate
production fell off to about 90% of capacity.
It is felt in
some circles that if the
drought had not occurred the tin
plate mills would not have been able to take care of the
demand had the pack of foodstuffs been
equal to last year.
Demand for beer cans and general line cans is
reported to
be increasingly large and is
tending to make up the de¬
ficiency in demand caused by the drought.
Incidentally,
canned wine is a new outlet for tin
plate.
It is reported that
locomotive and car builders are
tentatively figuring on a
fairly large amount of motive power and rolling stock that
not reach the contract stage for several weeks.
The
automotive industry is expected soon to be a
big factor again
in steel mill activity.
It is expected that shutdowns of
motor plants for
changeover to new models will be brief,
may
and will have
only
a
Pig Iron—There
temporary effect
on
steel shipments.
distinct signs of marked improvement
in the pig iron trade.
Large tonnage business in the metal is
showing up in substantial volume.
One especially large
are
inquiry is reported before some producers in the East, while
several lots janging from 100 to 500 tons each
have been
booked within the past few days.
It will not be at all
surprising if sales reach as high as 5,000 tons, thus becoming
the largest volume in several months.
It is reported that
some pig iron consumers who are in a
strong enough financial
position, are anticipating much of their requirements for the
fourth quarter, firm in the belief that
prices will not go
lower, and may very likely go higher.
Some sections report
that business
the past two weeks has been
over
especially
brisk.
Shipment of pig iron by inland waterways is the most
active in years.
The sustained high rate of activity in the
steel industry is regarded as having a wholesome
influence on
kets
Cash sales for both mar¬
1,200 bales, while 5,525 bales was the total in
were
future
1257
13 to 18 yen weaker.
was
transactions.
Local closing:
Aug., 1.713^; Sept.,
1.71; Oct., 1.67; Nov., 1.64; Dec., 1.63.
On the 18th inst.
futures closed 2 to 3c.
up.
Trading was quiet with sales
totaling only 430 bales.
Grade D was unchanged at Yoko¬
hama but 5 yen higher at Kobe,
being quoted at 775 yen at
The Yokohama Bourse was
up 6 to 12 yen
Kobe Bourse 6 to 10 yen
higher.
Cash sales for
both bourses were 850
bales, and transactions in futures
totaled 3,750 bales for both centers.
Local
and the
1.80; Sept.,
closing: Aug/,
1.79^; Sept., 1.72^; Oct., 1.68H; Nov.; 1.65; Dec., 1.64^.
On the 20th inst. futures closed
l^c. to 2 He. lower.
Transactions totaled 560 bales.
Spot remained unchanged
$1.80.
Cables reported Grade D back at 775
yen in
Yokohama and Kobe, a loss of 7H and 5
yen.
Yokohama
Bourse quotations were 3
yen lower to 7 yen higher, and at
Kobe, Bourse quotations were unchanged to 3
yen higher.
Cash sales for both markets totaled 750
bales, while futures
transactions
totaled
2,825 bales.
Local
closing: Aug.,
at
1.77; Sept., 1.71 H; Oct., 1.67; Nov., 1.63 H; Dec.,
1.62H.
Today futures closed lc. to 4 He. down.
Transactions
totaled 173 contracts.
The price of crack double extra in
the New York spot market declined 2
He. to $1.77HThe
Yokohama Bourse closed 15 to 19
yen down, while the
price of Grade D in the outside market declined
7H yen
to 767H yen a bale.
Local closing: Aug., 1.76; Sept., 1.67;
Oct., 1.6234*; Nov., 1.60; Dec., 1.59; Jan., 1.58; Feb.,
1.58;
March, 1.58.
COTTON
Friday Night, Aug. 21, 1936.
Crop, as indicated by our tele¬
tonight, is given below.
For the
week ending this
evening the total receipts have reached
76,336 bales, against 52,891 bales last week and
38,915
bales the previous.
week, making the total receipts since
Aug. 1, 1936, 163,405 bales, against 225,110 bales for the
same period of
1935, showing a decrease since Aug. 1, 1936,
of 61,705 bales.
The
grams
Movement
from
the
Receipts at—
of
by dealers at
prices.
Users of raw material are showing more dis¬
position to cover on their prospective requirements.
It is
quite clear that dealers are secure in their position and
current sales are at good firm prices.
An added feature of the
new situation is a
growing interest in the lower grades of
domestic and in the cheaper low grade South
Americans. On
a scoured basis,
territory three-eights blood is selling at 73c.
firm
77c., and the fleece wool 70c.
to
73c.
Quarter-blood
territory is bringing 70c. to 73c. and the fleece wool 65c. to
67c.
These scoured prices are about in normal
parity for the
types of raw materials.
The slight gap now seen between
what dealers ask and what manufacturers
are
willing to pay,
steadily diminishing, and in the case of good sample wool,
mills have either to pay the price or go without the wool.
The
conviction seems quite general now among dealers
that
prices will not yield to pressure or slow demand, and if any¬
thing, will go higher
is
.
Silk—On the 17th inst. futures closed lAa. to
3f6c. lower.
Sales totaled 940 bales.
Grade D broke 12^ yen in Yoko¬
hama and 15 yen lower at Kobe, which
brought the
price
down to 775 yen at Yokohama and 770 yen at Kobe.
The
Yokohama Bourse was 12 to 20 yen lower, and the Kobe
the
South
Sat.
Galveston
Mon.
613
Houston
Tues.
155
366
12,453
1,150
93
78
Mobile
Wed.
221
381
7,711
1,175
Corpus Christi..
New Orleans
>
*116
1,455
6,529
1,171
5,799
6,832
2,269
329
5,504
3,187
5,504
1,811
136
207
68
280
Total
1,315
8,535
44,533
10,763
862
1,304
Jacksonville
1,304
241
298
5i3
75
97
113
Charleston
Lake Charles
«.
Wilmington
-
—
-
-
-
420
162
-
..
186
Norfolk
""80
■
■
14
—
...
.
*.
5,106
2,488
631
5,106
380
21,692
76,336
309
61
~
—
80
707
123
380
Savannah
Baltimore
Fri.
100
205
*
Thurs.
110
Pensacola, &c
•.
-
-
57
82
mim
243
96
...
Totals this week.
10,474
14,612
9,879
8,543
11,136
The
following table shows the week's total receipts, the
since Aug. 1, 1936 and stock
tonight, compared with
total
last year:
■
1936
.
1935
Stock
Receipts to
Aug.
21
This
Week,
Galveston..
Texas
Since Aug
1 1936
This
Week
Since Aug
1 1935
1936
1,315
4,971
16,168
26,576
24
8",535
199
13,037
106,909
ll", 906
29,405
24,632
97,283
20,420
16,274
34,569
164,872
109,154
25,814
249,565
"3",824
76", 933
2,839
584
City..—.
Houston
Corpus Ohristi...
44,533
Beaumont..
New Orleans
10,763
338,559
1935
242,105
2,067
307.748
107,135
768
250,261
"
"862
1,854
1,304
1,304
1,721
2,591
80
80
415
2,488
3,945
11,461
15,608
5,809
1,921
146,741
"631
"l",567
1,898
"2",864
25",956
5,106
6.273
3.848
15,104
16,652
11,454
24,014
20,870
20,537
12,007
16,979
"""497
"4",977
658
728
1,000
Mobile
Wool—There appears to be a decided break in the
ap¬
parent deadlock that has existed for weeks in the wool trade.
A substantial amount of business was booked
closing: Aug.,
1.69; Nov., 1.68J^; Dec., 1.66.
1.73^; Oct.,
On the 19th inst. futures closed
H to 13^c. decline.
Sales
totaled 530 bales.
Spot remained unchanged at $1.80.
Yokohama futures were unchanged to 6
yen lower.
The
Kobe Bourse was 4 to 11
yen lower.
Grade D rose 73^ yen
in the Yokohama market and 5
yen at the Kobe market
with the price 782^2 yen at Yokohama and
780 yen at Kobe.
Cash sales for both bourses were
1,525 bales while transac¬
tions in futures totaled
4,025 bales.
Local
Gulfport
pig iron trade.
to
Bourse
both centers.
Zinc—The situation in this metal continues
very strong,
and in several. cases consumers have
asked for shipments
sooner than
specified in contracts.
It is said that a rise in
of the
Chronicle
Pensacola
Jacksonville...-.
Savannah...
Brunswick.. L
Charleston
Lake Charles
....
243
558
96
876
"207
673
380
1,721
180
476
76,336
Wilmington
163,405
96,074
.....
Norfolk
N ewport News
NewYork.
.
54
34,333
10,520
3,367
77,000
_.
...
Boston
Baltimore-
625
Philadelphia.....
Totals
225,110 1,199,423 1.112.402
In order that
we
comparison may be made with other years,
give below the totals at leading ports for six seasons:
Receipts at—
1936
Galveston
1934
1933
1931
16,168
11,906
16,274
1,721
11,461
10,943
15,567
10,605
3,072
4,430
16,171
57,952
11,001
1,842
9,404
"""631
Orleans.
Mobile
1,898
"1,513
"¥,882
~l",736
37
68
401
263
62
388
300
38", 020
862
Savannah
Brunswick
Charleston
Wilmington
1932
2,488
Houston
New
1935
1,315
8,535
10,763
_
1,643
27,858
2,622
2,019
8,058
"
243
_
Norfolk.
8,093
31,957
16,007
5,819
7,114
"""227
96
207
5l"403
36",439
24,878
43", 255
39", 765
Total this wk.
76.336
96,074
71,884
142,921
111,142
80,809
Since Aug. 1..
163,405
225,110
194.831
356.896
307.508
167,224
839
Newport News
All others
-
Financial
1258
the week ending this evening reach a
44,615 bales, of which 16,251 were to Great Britain,
1,420 to France, 7,512 to Germany, 2,067 to Italy, 12,597
to Japan, and 4,768 to other destinations.
In the corre¬
sponding week last year total exports were 39,390 bales.
For the season to date aggregate exports have been 108,331
The
exports for
total of
of the previous
bales, against 142,343 bales in the same period
season.
Below are the exports for the week.
Exported to—
Week Ended
Aug. 21, 1936
Ger-
Great
Exports from—
Galveston
Houston.!
3" 116
Corpus Christi-.
7,781
4,439
New Orleans
1,269
507
1,353
1~373
6,289
8,713
15,061
10,971
1,497
2,132
1,549
2,502
5,740
2,150
"291
"271
1,149
Total
Other
China
"600
2,608
2,141
A
Japan
Italy
Britain France »many
663
"
100
100
Mobile
370
"370
Pensacola, &c__.
'897
Savannah
"~30
Norfolk..
Gulf port
Los Angeles
443
413
318
318
197
"656
16,251
1,420
7,512
2,067
335
4,776
11,072
4,216
1,936
4,768
16,570
4,825
44,615
5,663
6,437
12,597
7,730
9,842
Total.
853
39,390
large scale operations,*
evidence during most of the
session, this being influenced largely by the hot, dry weather
in the Western belt and Liverpool cables, which were 7 to 11
points better than due.
It appeared that crop deterioration
reports from the Western portion of the American cotton
belt, and the high American cotton consumption figures for
July—were largely responsible for the substantial demand
that developed in the English market and the resulting gain
in prices.
Traders in the local market didn't appear to re¬
gard the news as furnishing incentive enough to operate in
a large way on either side.
Average price of middling in the
10 designated spot markets was 12.14 cents, which com¬
of the session.
there
was a
1935.
Total
1934.
1,667
100
Exported to—
From,
Aug. 1, 1936, to
Aug. 21, 1936
Ger¬
Great
France
Exports from— Britain
Total
Other
China
Japan
Italy
many
.
4,375
10,315
7,781
8,789
Corpus ChristL
New Orleans.
Lake Charles.
_
789
6,716
2,416
5,788
281
695
_
Mobile
Jacksonville
-
-
3,034
2,078
'.
.
.
370
Pensacola, &c_
3,399
2,502
5,740
1,900
1,734
1,269
2,305
7,471
1,956
Houston
2,218
337
Galveston
.
.
.
1,219
...
.
—
-
.
.
—
_
_
.
.
.
897
-
20,924
25,090
50
....
3,920
•
618
....
....
....
....
....
....
....
....
.
•
m
3,080
....
3,050
-
256
„
24,927
24,075
684
•
....
....
.
_
.
5,564
2,019
416
.
.
.
.
..
.
.
-
-
Savannah
2,596
Charleston
349
Norfolk
119
Gulfport
318
Los Angeles...
202
-
....
.
200
....
.
-
.
.
15,369
Total 1934
11,217
20,497
9,361
37,293
above exports, our
to
In addition
..
-
—
-
....
....
..
-
100
22,627
318
1,058
.«
51
12,066
108,331
25,552
28,303
142,343
190,628
telegrams tonight also
shipboard, not
Shipboard Not Cleared for—
Leaving
Aug. 21 at—
Ger¬
Great
Britain France
many
Other
Foreign
Stock
Coatswise
Total
400
319
636
"432
2,439
11,100
7,944
7,756
"25
2,000
"12
2,223
5,861
7,394
6,000
6,685
1,628
1,400
221
103
5,070
"~25
600
588
1,100
Galveston
Houston
Orleans
1,816
-
19
—
give us the following amounts of cotton on
cleared, at the ports named:
On
.
—
37,383
40,801
9,095
18,406
9,961
.
....
22
370
__
Savannah
Charleston
Mobile
50
444
Norfolk
Other ports—
4,143
765
.
....
656
....
27,086
29,188
42,282
Total 1935
.
7,208
37,507
Total
...
....
..
10
San Francisco.
..
....
-
.
.
.
..
....
.....
.
.
1,697
....
.
256
650
'
New
35,779
327,459
156,928
241,809
146,741
25,931
76,489
24,014
172,783
.
Total 1936-Total 1935
Total 1934
1,152
2,436
907
2,389
10,506
14,313
8,992
24,277
27,269 1,172,154
18,720 1,093,682
46,616 2,326,285
7,145
571
2,000
Speculation in cotton for future delivery was at a very
early part of the week, with fluctuations
narrow and erratic.
This was the situation up till Wednes¬
low ebb during the
day, when prices broke sharply 13 to 14 points as a
of
heavy
Central
Texas.
a
Aug.
reducing
the
1936
production
to
which was a reduction of 581,000 bales
previous report published by the same house on
11,812,000
from
result
influenced by reports of rains in South
The following day prices rallied sharply
report
private
a
on
selling,
1.
bales,
With the conviction quite general now that de¬
been very heavy during recent weeks, and
terioration has
a
Southwest
dry
the latter part
still prevailing,
On the 15th inst.
lower.
prices held very steady
of the week.
prices closed 1 point higher to 5 points
moderately active, with fluctuations
There was considerable selling by
foreign interests, especially from Liverpool and Far Eastern
operators, this pressure occurring in the early dealings. As
an added influence in the
downward movement, Liverpool
cables were 4 to 12 points lower.
The session hadn't pro¬
ceeded far when prices registered maximum declines of
8 to 14 points.
The. major portion of the selling was in
more
Trading
or
less
October and
stop
loss
was
erratic.
December.
orders
were
On the
uncovered,
further the downward movement.
sus
selling
which
a
number of
accelerated still
About the time the Cen¬
Bureau's
the
scale down
figures were published on consumptive deihand,
had pretty well spent itself.
The Census
Bureau's report showed domestic consumption for July at
603,203 bales, which was said to be a new record high for
July—against 556,323 in June and 390,712 for July last year.
Added to these rather bullish figures were further reports
of hot, dry weather in the West, with reports to some local
houses that the crop has further deteriorated approximately
500,000 bales since the Government estimate.
As a result
of this combination of bullish items, fresh substantial buying
was encouraged, which sent prices back to a point that showed
almost a complete recovery of the early losses. However, in
the closing minutes some substantial hedge selling developed,
which resulted in a wiping but of the aforesaid gains. Average
price of middling at the 10 designated spot markets Saturday
was
12.11 cents.
On the 17th inst. prices closed 9 to 14
pressure
points higher.
These advances proved to be about the highs
While there were no
moderate demand in
pared with 12.11 cents Saturday. ' On the 18th inst. prices
closed 12 to 17 points down.
The trend of the market was
decidedly downward.
Buyers were more or less cautious in
their operations.
The ever-present threat of hedge selling
and nervousness over the foreign political situation and its
possible effect on export sales, were the restraining influences.
These factors appeared to more than offset the bullish weather
Latest advices were that hot dry weather con¬
prevail in the western portion of the belt, and
deterioration in that section is becoming more pronounced.
After selling down 16 to 18 points, the market rallied some¬
what around mid-day.
There was a cessation of selling pres¬
sure^ after the Liverpool market closed, but there was noattempt to aggressively bid up the market.
Later, "fresh
selling developed from Southern and foreign sources, as a
result of which prices eased and closed at approximately
the lows of the day.
Reports continued to reach the trade
here of serious losses to the crop in parts of Texas, Oklahoma
and Arkansas, and further complaints received that the crop
was
beginning to go backward in the Mississippi Valley.
In the Eastern part of the belt conditions were believed to
have improved.
The average price of middling cotton at
the 10 designated spot markets was 12.00 cents.
On the
19th inst. prices closed 13 to 14 points lower.
Heavy selling
in the last hour broke prices about $1 a bale from the early
highs.
This selling was prompted largely by reports of rains
in portions of south-central Texas, and by an official weather
forecast indicating a possible break in the Southwestern
drought area.
Up to the late afternoon the trading was rela¬
tively dull.
Traders do not seem inclined to make heavy
commitments either way in view of the delicate political
situation abroad, and the mixed weather reports from the
cotton belt.
The weather map showing continued dry, hot
weather in the Southwest, and the weekly weather and crop
bulletin, confirming private reports of serious deterioration
in Texas and Oklahoma—failed to have any effect as a stim¬
reports.
tinued
Total
1936
22,
Aug.
Chronicle
to
ulus to bullish sentiment.
New Orleans was a
conspicuous
general liquidation accompanied hedge sell¬
ing.
The short interest in the market was evidently small
£nd prices gave ground rather easily.
Most of this activity
took place during the last hour of trading.
The average price
of middling at the 10 designated spot markets was 11.85 cents.
seller here and
On the 20th inst. prices
closed 6 to 11 points higher.
In
trading the market moved forward 3 to 6 points,
due to the absence of rainfall overnight in the Southwestern
the early
After
areas.
seemed
news
to
the
demand
display
no
from abroad had
had
staying
been
the market
Furthermore, the
satisfied
power.
traders more or less nervous.
The
situation seems to be getting more and more
delicate and fraught with extreme danger.
This great un¬
European
increasing hedge sell¬
South gains in volume
did much
to
dampen bullish enthusiasm.
Consequently,
when renewed
liquidation appeared, largely from New
Orleans, and scattered selling increased, prices dropped
rapidly.
The entire list sold down to new low levels for
the decline, and to the lowest prices experienced since early
in July, October
selling down to the lowest since June.
Crop losses ranging from 300,000 to 600,000 bales since the
August Bureau estimate were reported by different observ¬
ers.
These reports seemed to act as a stimulus in some
quarters, and quite a little buying developed, to which the
market seemed to respond quite readily, closing at approxi-.
mately the highs of the day.
The average price of middling
cotton at the 10 designated spot markets was 11.90c.
Today prices closed 6 to 12 points down.
Trading was
comparatively quiet, with fluctuations within a narrow
certainty and the prospect of steadily
ing as the movement of cotton in the
.
range.
There
was a
moderate scattered demand from Liver¬
Spot houses, the Far
selling side, but offer¬
ings were somewhat limited.
Early weather reports stated
that high temperatures in the Southwest still prevail.
The
foreign political situation is being watched with not a
little uneasiness, this situation abroad being fraught with
dangers that could affect seriously the markets of the
pool, Wall Street and the Continent.
East and the South appeared on the
entire
to
7
world.
Liverpool cables reported prices unchanged
points higher.
New York
Quotations for 32 Years
The
quotations for middling upland at New York> i
Aug. 21 for each of the past 32 years have been as follows:
1936
12.03c.
1928
19.15c.
1920
1935
11.65c.
1927
21.10c.
1919
1934
13.55c.
1926
18.15c.
1918
9.35c.
1925
23.65c.
--.—27.80c.
A--25.75c.
23.20c.
--_-.13.10c.
1917
1933
1932
.....
7.60c.
1924
1931
6.65c,
1923
1930
11.15c.
1922
1929 —-.18.50c.
1921
-
1916
1915
1914
1913
33.50c. 1912
31.50c. 1911
34.80c. 1910
25.30c. 1909
14.85c. 1908
9.20c. 1907
-11.00c. J. 906
12.25c. 1905
11.80c
12.50c.
16.40c.
12.65c.
10.00c.
13.35c
10.10c*
--
—
-10.90c*
Volume
143
Financial
Chronicle
The official quotation for middling upland cotton in the
New York market each day for the past week has been:
Liverpool stock
Aug. 15 to Aug. 21—
Middling upland
1259
Havre stock
Sat.
Tucs.
Wed.
12.31
>n.
12.36
—
12.13
.43
East Indian, Brazil, &c.—
12.03
12.14
Other Continental stock
Indian afloat for Europe
Egypt, Brazil, &c., afloat
Market and Sales at New York
The total sales of cotton on the spot each
week at New York
For
the
which show at
closed
on
of
Stock in Alexandria, Egypt
Stock in Bombay, India.
the
reader, we also add columns
glance how the market for spot and futures
a
same
day during the
following statement.
indicated in the
are
convenience
Total East India, &c
Futures
'
Spot Market
SALES
;
Closed
Total
Coritr 'ct
Spot
331,000
35,000
77,000
21,000
69,000
85,000
169,000
75,000
571,000
1933
598,000
347,000
47,000
48,000
54,000
30,000
51,000
52,000
78,000
125,000
108,000
263,000
768,000
178,000
179,000
915,000
1,433,000 2,105,000 1,731,000
2,924,096 2,729,019 4,489,148 5,576,596
Total visible supply
4,701,096 4,162.019 6,594,148 7,307,596
Middling uplands, Liverpool
6.74d.
6.33d.
7 12d
5.53d.
Middling uplands, New York
12.03c.
11.10c.
13.50c.
9.55c.
Egypt, good Sakel, Liverpool
10.64d.
8.44d.
9.37d.
8.32d.
Broach, fine, Liverpool
5.44d.
5.31d.
5.49d.
4.59d.
Peruvian Tanguis, g'd fair, L'pool
7.54d.
C.P.Oomra No.1 staple, s'fine.Liv 5.54d.
Market
Closed
1934
*
1.1,777,000
Total American
days.
1935
437,000
48,000
54,000
45,000
78,000
49,000
211,000
90,000
765,000
Manchester stock
Bremen stock
Fri.
Thurs.
1936
—
Saturday.
Monday
Quiet, 5pts. dec:
Quiet, 7 pts. adv__.
Tuesday
Quiet, 12 pts. dec—.
Wednesday- Steady, 18 pts. dec.
Thursday
Steady, 1 pt adv—
Friday.
Quiet, 11 pts. dec—.
._
...
Total
Steady.
Steady
Barely steady..
Barely steady..
Steady
Barely steady.-
Continental imports for past week have been 73,000 bales.
week.
100
Since Aug. 1
Futures—The
highest,
Monday
Aug. 17
Aug. 15
3.900
detail below:
lowest
and
New York for the past week have been
Saturday
100
230
3",700
At ithe Interior Towns the movement—that
is, the.
receipts for the week and since Aug. 1, the shipments for
the week and the stock tonight, and the same items for the
corresponding period of the previous year—is set out in
"166
"166
Tuesday
closing prices
as follows::
Wednesday
Aug. 18
Aug. 19
Thursday
Aug. 20
,
at
Movement to Aug. 21, 1936
Towns
Movemen.to Aug. 23,
Ship¬
Receipts
Aug. 21
Week
Season
Stocks
ments
Friday
Aug.
21
Week
1935
Ship¬
Stocks
ments
Aug.
Week
23
Receipts
Week
I
Season
Sep*. (1936)
Range
Ala., Birming'm
11.58-11.58
__
331
Eufaula
405
675
11.17n
Range..
11.8377
'
11.7177
11.5877
11.7277
Closing
107
8
497
572
407
Selma
11.6077
11.62-11.77 11.74-11.84 11.67-11.79 11.56-11.75 11.49-11.65 11.53-11.68
11.71-11.75 11.83 —
11.71-11.72 11.58 —
11.64 —
11.53
27
Montgomery.
Closing
Oct.—
464
581
86
Ark., Blythville
Forest
Nov.—
7
110
1,024
1,021
"l6
193
547
II
"225
641
1,597
1,296
403
615
"260
638
1,222
30
124
"261
473
11.8577
11.7277
11.5977
11.6677
Hope
11.5477
Jonesboro
Dec.—
Little Rock..
Range.. 11.69-11.82 11.80-11.88 11.71-11.83 11.60-11.79 11.54-11.70 11.56-11.74
Closing
11.78-11.82 11.87-11.88 11.73-11.76 11.60 —
11.68 —
11.56-11.57
Newport
Pine Bluff
Jan. (1937)
Walnut Ridge
Ga., Albany-
Range.. 11.75-11.85 11.84-11.93 11.75-11.85 11.63-11.81 11.59-11.73 11.61-11.76
Closing
11.82
—
11.91
11.77
—
11.63
—
—
11.71
11.5977
—
11.8471
11.9377
11.7977
11.6577
11.7477
11.6277
9
36
1,198
—
Augusta
■
864
68
33
121
4
2,843
3,997
43,933
14,290
"~~2
26
23,998
11,113
3,982
490 22,437
7,663 21,481
407 88,936
200 11,961
10,463
4,840
1,465
Atlanta
Range..
Closing
5,517
2,665
200
3,440
390
5,720
318 16,613
110 35,272
271 74,151
14 16,728
151 11,512
82 15,927
24,379
1,202
1,116
52
"
"442
15,543
3,275, 18,598
3,212 77,142
Athens
Feb.—
640
767
994
295
City-
Helena
Range__
11.7471
Closing
30,664
9,542
49,284
52,650
60,559
5,222
4,975
16,279
9,389
39.286
10,572
26,925
1~020
115
246
659
400
2,216
9,666
1,900
211
272
85.287
33,300
8,242
Columbus..
300
1,600
Range.: 11.78-11.87 11.88-11.96 11.79-11.91 11.66-11.87 11.61-11.79 11.65-11.82
Macon
229
466
753. 25,749
229
94
Closing
Rome
13
38
19,972
1
1
285
1,813
1,904
15,565
86
86
61
846
Mar.—
11.87
11.96
11.81
—
11.68
—
11.77
11.65
—
La., Shreveport
Miss.Clarksdale
April—
11.80
11.67-11.68 11.78
11.66
—
11.9577
11.7977
11.6577
11.7677
2,027
1,604
""56
260
288
209
86
188
1
""35
54
148
1,639
130
299
323
65
989
31
4,240
10,899
4,308
1,662
300
3,589
270
851
200,
2,265
7
66
79,601
37,061
1,218
1,000
2,807
1,608
3,784
27,263
129
185
Jackson
11.6477
July—
Range.. 11.72-11.74 11.85-11.91 11.73-11.87 11.63-11.82 11.60-11.73 11.68-11.76
11.7977
11.9377
Closing
11.7777
11.63
11.7477
11.6277
,
15 towns*—
142
353
Range..
2,704
12,902
Closing1
8,529
34,749
34
739
34
100
880
712
1,200
20,292 334,074
692
1,215
172
""30
603
63
2,641
1,039
169
7
39
141
4,158
5,230
1~389
419
600
172
577
51
52
96
5,332
430
58
2,507
""48
87,032' 48,4151132176
26,095
...
Option for—
Texarkana
Range for Week
Range Since Beginning of Option
Aug. ^Se¬
10.39 Jan.
Sept. me¬ 11.58 Aug. 20 11.58 Aug. 20 10.42 Sept.
Oct. me— 11.49 Aug. 20 11.84 Aug. 17
9.80 Jan.
Nov. 1936—
Dec.
10.12
Jan.
1936— 11.54 Aug. 20 11.88
1937— 11.59 Aug. 20 11.93
Feb.
Mar.
9 1936 12.90
July
Waco
21 1936
July
July
3 1936 12.25 July
—
2,169
1,541 a 05,913
l,000i 32,781
8,655 304,943
8,054
2,370
60
4,270
58
5,640
10,607
2,259
6,358
413
2,236
2,218 11,993
15
7,336
53
"
■
San Antonio.
158
59
-
6*407
636
564
225
Paris
"366
975
76
194
Robstown
10,822
3,048
4,210
10,868
"204
410
41
2,009
3,748
3,073
4,536
Dallas
3
1
:«
76
V
Brenham
.
419
2,547
131
"360
1,055
20,600
6,120
6,635
39
A us tin
Nominal.
Range for future prices at New York or week ending
Aug. 21, 1936, and since trading began on each option:
•v
288
S.C., Greenville
Tenn.,Memphis
Texas, Abilene.
,
Aug.—
77
692
Natchez
—
12,734
18,739
21,534
22,204
10,951
28,313
47
Mo., St. Louis.
N.C.,Gr'nsboro
Oklahoma—,
Columbus
Greenwood-.
June—
Range..
11.8271
Closing
>
Yazoo City—
11.84-11.86 11.97
678
200
1,445
Vicksburg.—
Range—
11.8671
11.9677
Closing
11.8177
11.6877
11.7777
11.6577
May—
Range.. 11.78-11.87 11.88-11.97 11.79-11.91 11.66-11.86 11.61-11.78 11.66-11.82
Closing
"208
2
23 1936
3 1935 12.32
9 1936 12.78
Total, 56 towns
35,941
8 1936
*
10 1936
70,951' 29,2541094124
Includes the combined totals of 15 towns in Oklahoma.
1937-
Aug. 17
9.76 Jan.
9 1936 12.78
July
10 1936
Aug. 17
9.94 Feb.
25 1936 12.76
July
10 1936
Mar. 1937— 11.61 Aug. 20 11.96 Aug. 17 10.20 Mar. 27 1936 12.78
July
Apr. 1937May 1937— 11.61 Aug. 20 H"9~7~ AugVl7 16748 June
1 1936 12.78 July
10 1936
Quotations for Middling Cotton
at. Other
Markets
Closing Quotations for Middling Cotton
10 1936
on-
Week Ended
Aug. 21
Saturday
Monday
Tuesday
12.20
12.08
Wed'day Thursday
June 1937—
July
1937—
il?60" Aug"."20 11791 Aug."l7 £1760 "Aug" 2o" 1936 12?55 "july" 27* 1936
Galveston
bales.
Stock at Manchester
Total Great Britain
Stock at Bremen
656,000
81,000
472,000
54,000
1934
890,000
89,000
754,000
107,000
Stock at Rotterdam
Stock at Barcelona
Stock at Genoa
Stock at Venice and Mestre
...
Total Continental stocks
737,000
150,000
124,000
9,000
62,000
55,000
11,000
7,000
526,000
979,000
182,000
*399,000
71,000
155,000
18,000,
27,000
47,000
51,000.
56,000
50,000
10,000
10,000
9,000
11,000
861,000
474,000
176,000
23,000
75,000
110,000
393,000
858,000
703,000
...
Z_..Z_
European stocks—J.
1,155,000
919,000 1,682,000 1,719,000
India cotton afloat for Europe—
49,000
85,000
52,000
125,000
American cotton afloat for Europe
91,000
131,000
108,000
269,000
Egypt, Brazil,&c.,afl't for Europe 211,000
169,000
178,000
103,000
Stock in Alexandria, Egypt
90,000
75,000
179,000
263,000
Stock in Bombay, India
765,000
571,000
915,000
768,000
Stock in U. S. ports
1,199,423 1,112,402 2,372,901 2,944,389
Stock in U. S. interior towns
1,132,176 1,094,124 1,104,626 1.109,002
U. S. exports today.
8,497
5,493
2,621
7,205
Total visible supply
4,701,096 4,162,019 6,594,148 7,307,596
Of the above, totals of American and other
American—
Liverpool stock
Manchester stock
Bremen stock
Havre stock
bales.
219,000
33,000
97,000
79,000
65,000
Other Continental stock
American afloat for Europe—91,000
U. S. ports stock
„
1,199,423
U. S. interior stock
U. S. exports today
Total American—
1,132,176
8,497
descriptions
141,000
19,000
105,000
50,000
71,000
131,000
are as
292,000
41,000
follows:
407,000
60.000
345,000
125,000
98,000
108,000
12.10
11.93
11.93
11.83
11.71
11.58
11.64
11.53
12.13
12.13
12.01
11.88
11.94
11.83
Norfolk
12.50
12.30
12.10
12.10
11.85
Montgomery
11.98
11.75
11.55
12.53
12.53
12.41
11.45
12.28
11.50
11.89
11.40
Augusta
Memphis
12.45
11.90
12.05
4,489,148 5,576,596
11.78
12.18
12.23
12.11
11.70
11.96
11.75
Houston
Little Rock
11.88
11.97
11.86
11.63 '
11.69
11.78
11.88
11.69
11.58
11.85
11.76
11.76
11.63
11.78
11.63
11.69
11.58
...
Dallas
___
Fort Worth
Overland
,
Movement
for
11.80
the
Week
Aug. 21—
Shipped—
and
11.58
Since Aug.
Since
Aug. I
4,308
1,180
11,115
4,220
67
418
399
3,380
3,645
1,062
10,873
8,088
!_12,979
Via Louisville
35,776
7,660
27,362
1,721
180
,
Via Virginia points
Via other routes, «Scc
1
1935-
Week
■
Via Mounds, &c
Via Rock Island
...
:
Week
Aug. 1
300
379
3,664
1,306
"170
""*340
3,411
3,400
10,807
11,245
Shipments—
Overland to N. Y., Boston, &c—
Between interior towns
Total to be deducted
380
235
786
196
534
771
6,488
;
Inland, &c.f from South
22,124
3,143
15,506
24,631
3,519
16,811
11,145
4,141
10,551
—
7,103
Leaving total net overland *—
*
<
Since
Via St. Louis
Deduct
11.65
11.88
,
12.00
1936
,
5,876
,
Including movement by rail to Canada.
1936
In Sight and
Spinners'
Takings
Came into
excess
sight during week
Aug. 21
Aug. 1
♦Decrease.
Aug. 1
225,110
10,551
267,000
*74,241
180,215
*3,159
502,661
*30,213
....,
96,074
4,141
80,000
549,550
194,738
27,786
Since
Week
163,405
11,145
375,000
207,212
*12,474
Total in sight
North, spinn's' takings to Aug. 21
-1935Since
Week
Receipts at ports to Aug. 21
76,336
Net overland to Aug. 21
5,876
Southern consumption to Aug. 21-125,000
Total marketed
1,112,402 2,372,901 2,944,389
1,094,124 1,104,626 1,109,002
5,493
2,621
7,205
..2,924,096 2,729,019
12.20
11.83
Interior stocks in
780,000
269,000
11 90
12.12
11.71
Total gross overland
Total
Friday
Savannah—.
1933
418,000
Stock at Havre
Stock at Trieste
1935
12.01
New Orleans
Supply of Cotton tonight, as made up by
cable and telegraph, is as follows.
Foreign stocks as well
as afloat are this week's
returns, and consequently all foreign
figures are brought down to Thursday evening.
To make
the total show the complete figures for
tonight (Friday) we
add the item of exports from the United
States, for Friday
only.
1936
11.95
Mobile
The Visible
Aug. 21—
Stock at Liverpool
12.15
177,056
475,309
56,625
472,448
13,953
39,537
1260
Financial
Movement into
sight in previous
Week—
Bales
1934—Aug. 24..
1933—Aug. 25
1932—Aug. 26
1933
Bales
461,167
744,197
1932-
150,204
Aug.
Distribution of
Supply and
years:
Since Aug. 1—
1934
254,992
158,097
Chronicle
485.806
•
Cotton
United
the
in
1936
22.
Domestic and Foreign
Season of 1935-36—The
States,
preliminary report for the several items of the supply and
distribution of cotton in the United States for the 12 months
ended July 31, 1936, are presented in the following tabular
statement's. Number I shows the principal items of supply
New Orleans Contract Market
II the comparative figures of stocks
and 1936; and No. Ill further details
and the distribution. , The quantities
bales, except that round bales are
counted as half bales and foreign cotton in equivalent 500pound bales.
Linters are not included.
and distribution;
Monday
Aug. (1936)
September
11.72
(October
Tuesday
Aug. 17
Saturday
Aug. 15
Aug18
Wednesday
Aug. 19
Thursday
Aug. 20
No.
July 31, 1935,
concerning the supply
are
given in running
Friday
held
Aug. 21
il.79
11.69
11.52-11.53 11.59
11.76
11.82
11.71
11.56-11.57 11.63-81.64 11.51
Jan. (1937) 11.77
1
11.83
11.74
115861159a 116461166a 11.526-.53a
11.89
11.75
116261163a 11.72
11.60
118361185a 119161193a 11.76
116261163a 11.72
11.62-11.63
.
1,1.48
November
December
I—COTTON
11.85
March
ENDED
IN
THE
JULY 31,
CONSUMED,
EXPORTED;
IMPORTED,
GINNED,
DESTROYED
February
April..
on
UNITED
STATES
12
THE
FOR
Ginnliigs, from Aug. 1, 1935, to July 31, 1936
-
May
June
Net imports
Net exports
115761159a 116761169a 11.576-.59a
July..*... 117961181a 118461186a 11.71
K Tone—
Spot
Options
Consumed.
- —
....
T
Destroyed (baled cotton)
Steady.
Steady.
Steady.
Steady.
Steady.
Steady.
Barely stdy
Steady.
Steady.
Barely st'y
10,367,130
144,597
5,971,041
6,348,423
35,000
Steady.
Steady.
II—STOCKS OF COTTON IN THE UNITED STATES JULY
1936
31, 1935, AND
(BALES)
1935
1936
Census Report on Cotton Consumed and on Hand,
&c., in July—Under date of Aug. 15, 1936, the Census
Bureau issued its report showing cotton consumed in the
United States, cotton on hand, active cotton spindles and
imports and exports of cotton for the month of July, 1936
and 1935.
In consuming establishments
In
Elsewhere
bales of lint and 61,329 bales of linters in July, 1935.
It
will be seen that there is an increase in July, 1936, when
compared with the previous
combined of 221,408 bales,
in the total lint and linters
49%.
The following is the
year
or
(partially estimated)
898,084
3,924,101
575,000
—
public storages and at compresses
—
a
—
Total
5,397,185
—
III—SUPPLY
COTTON
Cotton consumed amounted to 603,203 bales of
lint and 70,246 bales of linters, compared with 556,323 bales
of lint and 63,956 bales of linters in June, 1936, and 390,712
.
AND
MONTHS
1936 (BALES)
JULY
DISTRIBUTION
AND
IN THE UNITED
31,
1936
OF
DOMESTIC
STATES FOR THE
AND
788,989
5,739,488
680,000
7.208,477
FOREIGN
12 MONTHS ENDED
(BALES)
Supply—
Stocks on hand Aug. 1,
In
7,208,477
1935, total
consuming establishments
.—
788,989
5,739,488
680,000
■'
In
public storages and at compresses
Elsewhere (partially estimated) a
144,597
10,367,130
Imports (total less 10,220 reexports, year ended June 30)
Ginnlngs during 12 mouths, total
10,326,000
41,130
Crop of 1935 after July 31, 1935
Crop of 1936 to Aug. 1, 1936
statement:
17.720,204
Aggregate supply
JULY
REPORT
AND
OF
COTTON
ON
HAND,
Distribution—
IMPORTED
Net exports
AND ACTIVE COTTON SPINDLES
EXPORTED,
Cotton In running bales,
CONSUMED,
(total less 1,525 reimports, year ended June)
Consumed-,
counting round as half bales, except foreign, which is in
509-pound bales)
*
;
5,971,041
..—6,348,423
35,000
5,397,185
'898,084
3,924,101
.....—..———...
....
Destroyed (ginned cotton)
Stocks on hand July 31, 1936, total
!
In consuming establishments
In public storages and at compresses
Cotton Consumed
Cotton on Hand
During—
July 31—
Elsewhere (partially estimated)
Cotton
Twelve
Ended
1936
United States
suming
Establish¬
July 31
(bales)
July
(bales)
In Con¬
Months
Year
ments
presses
During
July
(bales)
(bales)
(Number)
In
Public
Spindles
Active
Storage
at Com¬
603,203 6,348,423
5,360,867
898,084 3,924,101 23,249,572
788,989 5,739,488 22,311,970
1936 504,321 5,334,284
1935 321,470 4,305,950
708,131 3,880,156 17,145,596
596,479 5,594,632 16,265,212
152,452
38,079 5,394,700
153,678
136,545 5,387,228
37,501
5,866
709,276
38,832
8,311
659,530
1935 390,712
575,000
a.
Aggregate distribution
-
Excess of distribution over supply
for
17,751,649
31,445
b___
shipboard but not cleared; cotton coastwise;
cotton in transit to ports, interior towns, and mills; cotton on farms, &c.
b Due
principally to the inclusion in all distribution items of the "city crop," which con¬
sists of rebaled samples and pickings from cotton damaged by fire and weather.
Note—Foreign cottons included in above items are 129,868 bales consumed;
a
Includes
cotton
export on
70,001 on hand Aug. 1, 1935, and 73,141 on hand July 31, 1936.
SUPPLY AND DISTRIBUTION STATISTICS FOR LINTERS
Col on-growing States,.
New England States
1936
1936
1935
Included Above—
818,191
182,898
236,726
6,106
4,665
6,986
4,002
1,784
1,259
1935
All other States
831,241
81,091
53,400
17,791
15,842
66,905
82,249
62,963
37,714
21,457
11,343
25,777
25,947
16,098
14,465
16,126
22,076
15,140
8,513
6,542
6,676
1,939
70,246
61,329
731,490
719,028
182,137
*
1936
Egyptian cotton
1935
Other foreign cotton
1936
1935
1936
Amer.-Egyptian cotton.
1935
69
(Not Included in cotton statistics above)
Stocks of linters Aug.
12
months
240,549;
1936, 263,175.
exports,
Linters.....
1936
1935'
187,146
35,038
32,698
1, 1935, were 294,844 running bales; production during
31, 1936, 873,907; imports, 40,000 (partially estimated);
consumption, 731,490; destroyed, 1,000, and stocks July 31,
July
Weather Reports by Telegraph—Reports to us by tele¬
graph this evening denote that in Oklahoma, Texas and
Arkansas deterioration of the cotton crop is now steadily
going on.
A temperature of 110 deg. in Arkansas is having
a
highly unfavorable effect on the crop.
Everywhere in
the
Not Included Above—
ended
eastern
favorable.
belt
scattered
showers
Showers in Louisiana
otherwise,despite the great, amount of
Imports of Foreign Cotton (500-16. Bates)
.'
Country of Production
12 Mos. End.
July
1936
Egypt
1935
1936
4,741
Peru
3,803
107
_
China
97
1,549
Mexico
i~3~609
British India
All other
~2~ 808
299
Total
20,305
6,708
65,602
1,125
25,915
3,386
July 31
1935
57,655
1,134
71,176
1,192
3,185
5,137
24,903
1,438
154,817
107,031
Exports of Domestic Cottons Excluding Linters
(Running Bales—See Note for Linters)
Rain
dry
Amarillo
dry
Austin..,
1 day
0.02 in.
Abilene
dry
Brenham
dry
Brownsville, Tex
4 days
0.37 in.
Corpus Christi
1 day
0.02 in.
Dallas
^
dry
Del Rio
dry
El Paso
4 days
0.72 in.
Henrietta.
dry
Kerrville
dry
Lampasas
dry
Long view
dry
Luling
;
dry
Nacogdoches.
dry
Palestine
dry
Paris
1 day
0.24 in.
San Antonio
dry
Taylor.
dry
Weatherford
dry
Oklahoma—Oklahoma City.
dry
Arkansas—Eldorado
1 day
0.02 in.
Fort Smith
1
2 days
0.50 in.
Little Rock
dry
Pine Bluff
dry
Louisiana—Alexandria
1 day
0.13 in.
Amite.
.3 days
1.22 in.
New Orleans—
2 days
1.04 in.
Shreveport
1 day
0.01 in.
Mississippi—Meridian
3 days
0.90 in.
Vicksburg..
1 day
0.06 in.
Alabama—Mobile
1 day
0.27 in.
Birmingham
2 days
0.88 in.
Montgomery.
1 day
0.26 in.
Florida—Jacksonville
2 days
0.16 in.
Miami
3 days
2.06 in.
Pensacola
2 days
0.46 in.
Tampa
3 days
1.60 in.
Georgia—Savannah
2 days
0.07 in.
Atlanta
.1 day
0.22 in.
Augusta
1 day
0.20 in.
Macon
1 day
0.10 in.
South Carolina—Charleston. 1 day
0.13 in.
Greenwood
1 day
0.91 in.
Columbia
2 days
0.48 in.
North Carolina—Asheville.-l day
0.40 in.
Charlotte
1 day
0.44 in.
Newborn
2 days
0.60 in.
Raleigh
l day
0.02 in.
Weldon
2 days
0.49 in.
Wilmington
2 days
0.08 in.
Tennessee—Memphis
dry
Chattanooga
dry
Nashville
dry
,
County to Which Exported
1936
United Kingdom
France
..1.......
60,213
12,746
6,139
24,879
2,220
1,750
20,367
15,870
30,367
19,455
19,321
22,459
1936
300
.
Belgium
Other Europe
i
Japan
.......
...
..
.
Canada
All other
Total
Note—Linters
1935
1
......
200
9,694
2,084
Italy
Germany
Spain
Cihina
12 Mos. End. July 31
July
26,012
2,806
1,409,547
680,927
379,896
765,485
207,114
157.236
659.237
1,479,167
36,452
248,288
49,217
156,262
279,822
5,972,566
exported, not included above,
9,777
6,876
86,056
56,493
were
1935
738,154
372,656
474,106
341,850
240,235
97,194
601,754
1,524,395
108,083
225,499
4,798,539
74,613
19,331 bales during July in
1930 and 18,298 bales in 1935; 240,649 bales for the 12 months ended July 31 in
1936 and 205,246 bales in 1935.
The distribution for July, 1936, follows:
United
Kingdom, 5,243; Netherlands, 3,386; Belgium, 21; France, 2,023; Germany, 6,963;
Italy, 380; Portugal, 741; Canada, 355; Japan, 4; British Honduras. 1; Panama,
22: South Africa, 192.
WORLD
STATISTICS
The preliminary
estimate of the world's production of commercial
cotton, exclusive of linters, grown in 1935, as compiled from various
sources, was 25,894,000 bales, counting American in running bales and
foreign in bales of 478 pounds lint, while the consumption of cotton (ex¬
clusive of linters in
the United States) for the year ended
July 31, 1935,
was 25,283,000 bales.
The total number of spinning cotton spindles, both
active and idle, is about 154,000,000.
New York Cotton Exchange Elects Ellison C. Powers
to
Membership—At
meeting of the Board of Managers
of the New York Cotton Exchange on Aug. 19 Ellison
Capers
Powers of Greenville', S. C., was elected to membership in
the Exchange.
Mr. Powers is Secretary and Treasurer of
E. C. Powers, Inc., cotton merchants of Greenville.
a
.
The
made
more
open
conditions
favorable than
cotton in the fields.
Thermometer-
Rainfall
Texas—Galveston
,
have
were
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
high
89
low 81
mean
85
102
96
102
96
92
90
100
96
100
106
96
100
106
100
98
98
102
96
98
104
104
106
104
102
104
95
99
94
100
96
98
95
96
94
92
90
92
92
94
96
96
96
90
97
94
94
94
94
92
94
90
101
102
102
low 68
mean
84
low 74
mean
85
low 74
mean
88
low 72
mean
84
low 74
mean
83
low 76
mean
low 76
mean
83
88
low 74
low 66
mean
76
mean
91
low 66
mean
low 66
low 72
mean
81
83
low
mean
mean
85
83
89
low 72
mean
86
low 72
mean
85
low 72
low 74
mean
low 74
mean
mean
low 70
low 72
mean
low 78
mean
low 73
mean
low 76
low 76
mean
85
88
85
84
88
91
90
mean
90
mean
low 76
low 70
mean
low 74
mean
89
89
84
84
89
88
83
86
low 74
mean
84
low 73
low 72
low 68
low 78
mean
mean
mean
mean
mean
low 70
mean
83
low 72
mean
low 74
mean
76
mean
low 74
low 74
mean
low 74
mean
83
83
63
83
63
64
low 70
low 70
mean
83
mean
83
low 72
mean
low 74
mean
84
82
low 69
mean
83
low 70
low 62
mean
mean
62
78
low 68
mean
81
low 72
mean
83
70
67
mean
6l
mean
81
low 74
mean
62
low 75
mean
87
72
mean
low 74
mean
87
86
low
low
low
low
mean
following statement has also been received by tele¬
graph, showing the height of rivers at the points named at
8 a. m. on the dates given:
Volume
Aug. 21, 1936
,
Feet
_
Above zero of gauge-
1.6
1.2
9.0
2.0
—2.1
--Above zero of
gaugeAbove zero or gauge-
Nashville--
Above zero of gaugeAbove zero of gauge-
Shreveport
Vicksburg
Central Texa«
Brenham {Washington County)—Scattering bales coming in daily, movevery slow.
Crop about half of a normal one.
Leaf worms still
working in places despite heat wave, and some fields have been stripped.
However, most farmers poisoned and controlled them.
Insects and
heavy rains during July ruined crop in this section.
This place seems
to be the dividing line—here to south, crop gradually gets worse; from
here north, gradually improves.
Calvert (Robertson County)—Insects are doing much more damage than
at this time last year.
Cotton is also some three weeks later. Poisoning
to a very large extent has done a great amount of good, and if Weather
conditions remain dry and warm, such as we now have, believe insect
-
3.8
16.9
9.6
7.8
17.1
ment
'
-
_
Dallas
Dallas
Cotton
Cotton
Vt
J16I1S1Y0
___
Exchange
Exchange
week
S. "
4„
.
-
Weekly Crop
each
Report—lne
imhlishes
a
eomnre-
puoiisnes a, compre
.report covering cotton crop 'Conditions in lexas,
Oklahoma and Arkansas.
The current week's report, dated
»
io
-|7
00
fnliAwo.
depredation willbe overcome within the next fortnight. Excessively hot
weather for greater portion of week^has done little or no damage to growing
•
Aug. 1/, lb as IOJIOWS.
TEXAS
Movement will start about Aug. 25.
West Texas
Cameron (Milam County)—The hot weather past week has deteriorated
Abilene
(Taylor County)—The weather has been hot and dry the past
Temperatures have run from 100 to 110.
The cotton crop has
suffered badly.
If we get rain in the next 10 days, with late frost, we can
still make a good crop, but it will take several inches of rain over the whole
territory.
Local showers will be a disadvantage if it should turn off hot
and dry afterwards.
What we need is several inches of rain.
The more we
get from now on the better off we will be.
Big Spring (Howard County)—-Cotton has continued its rapid deterioration
throughout this territory the past week.
Temperatures have been high,
our crops at least 15%.
Boliworms* and leafworms are damaging our
lowland about 50%, a greater damage than any time in the last 10 years.
week.
and
no
Fleas are heavy in the young cotton in lowlands.
,
Ennis (Ellis County)—-Cotton crop in this section has deteriorated around
30% past week account of the extreme hot weather, but a good rain would
make a big difference in the crop.
About 75 bales were ginned in this territory the last week, but if this hot weather continues the gins all will be
running full time by the last of the week.
No insects to amount to anything bothering crop so far.
Glen Rose {Somervell County)—Cotton has done exceedingly well, considering hot dry weather.
With good rains and lower temperature our cotton
rain.
Brady (McCulloch County)—Weather hot and dry; cotton crop not making
not at night.
Some insects working—weevil, leaf worm
and fleas—and farmers are poisoning.
It looks as though if it rains the
insects will damage us, if it doesn't rain the dry weather will damage us.
Childress (Childress County)—We have had altogether one-half inch rain
since the average planting date, and there is a marked deterioration due
entirely to the continued drought and high temperatures.
Temperatures
averaged 110 degrees this week.
Under the most favorable weather for
the rest of the season could only make 12,000 or 15,000 bales, and if no rain
within the next week perhaps only half that amount.
could make a full crop.
Taylor (Williamson County)—No doubt the yield for this section has been
considerably lowered during the past 10 days.
Excessive heat has caused
shedding of all small bolls and squares and brought about premature opening.
The movement is getting under way with about 250 bales received at
Taylor up to this time.
Picking will not be general over the county for
10 days.
Temple (Bell County)—First part of week high temperatures did some damage.
Latter part of week dry but not so hot. - Some reports of cotton dying
but not so much as last year.
Also some reports of damage from weevils,
leafworms and boliworms.
Waxahachie (Ellis County)—The hot weather of past week has caused
any progress; even
Clarendon (.Donley County)—This crop is holding up remarkably well.
This is due to the 10 days ram in May, supplying such good subsoil moisutre.
Believe prospects better than last year.
Plant is bigger and is holding up
About one-third badly burned, one-third blooming in top and shed-
better.
ding
prospects to decrease by about 5%.
Root rot has been increased considerably.
We need a good three-inch rain generally.
First bale ginned in
the county on Monday and there will be about 50 bales ginned by end of the
week.
This is due to small bolls opening prematurely account of the intense heat.
Cotton is shedding badly.
This county made
With rain by the 20th should make between
15,000 and 20,000.
Without rain will probably make some 10,000 to 12,000
bales
No insect damage apparent.
Colorado (Mitchell County)—Prospects Aug. 1 promised better than onethird bale to the acre; prospects now promise about a bale to six acres
average for county.
A good rain could change this estimate materially.
Floydada (Floyd County)—The extreme heat wave the last two weeks has
decreased our cotton prospects considerably, especially the
past week.,
Parts of this territory are suffering very badly for the need of rain.
There
is some cotton that will not hold up much longer without rain.
We need a
good general rain.
f
Haskell (.Haskell County)—The cotton crop has declined 50% during the
last 10 days due to extreme temperatures and lack of moisture.
All cotton
has quit growing, lots of dead cotton, some young cotton still blooming.
Unless we get ram in a few days the crop will be mighty short.
and one-third apparently not suffering.
some,
about 10,900 bales last year.
,
^
_
and.
Lubbock (Lubbock County)—Past week has been very hot and dry, causing
the ground.
A normal crop cannot be
hours have brought some cooler weather.
to
made.
It
seems
bales every
the last 24
'
No insects, only
a
Right
now over
half the crop is
few mifmore birds appearing in the
sandy sections.
Shamrock (Wheeler County)—Cotton wilting from the hot sum and wind,
no relief in sight.
Cotton insects all dead except grasshoppers.
Crop may
not equal 1934 crop if we do not receive rain soon.
Stamford (Jones County)—No relief this week from drought and heat.
Crop getting smaller day by day.
Estimate county will make 40,000 bales.
Will gin few bales next week.
Sweetwater (Nolan County)—While we estimate production this county at
this time about 50% of what we estimated Aug. 1, crop can be largely increased if we get a good rain by Sept. 1 and a late frost.
-
top crop, which the writer doubts, all depending on future weather.
Hot
weather has kept the insects down of late.
At present looks as if this seotion will have some rain.
Seauin (Guadalupe County)—Estimate production about same as of Aug.
expect any further setting of fruit due to army worm, weevil, &c.
OKLAHOMA
hatw£9aArUn«.Au%
Anadarko (Caddo County)—Continued hot dry weather past week, tem100 mark.
All fields are deteriorating
practically stopped, with heavy shedding.
Some bolls are opening
prematurely, root rot or dead cotton increasing, insect damage light.
fSCt'
U
ral0
001068
OOJlt
peratures ranging well above the
Dallas (Dallas County)—Unusually high temperatures and hot winds
caused serious deterioration this past week; plants are shedding
badly, and bolls opening prematurely.
Prospects some 20% less than
10 days ago.
Picking has begun in much of the upland.
Fornev (Kaufman County)—A more than average deterioration past
two weeks.
We need a three-inch rain and then more dry weather.
Insect
damage slight.
Garland (Dallas County)—Due to climatic conditions cotton crop in this
territory does not look as good as it did 10 days ago.
The plant is still
putting on lots of fruit, but on account of the hot dry weather it is throwing
.
.
Bolls
.
ana
cooler wearner
win
De
oeneiiuai.
thin land.
,
,
.
Terrell
(Kaufman County)—Crop during past week has deteriorated
Plant is burning badly.
Bolls are opening prematurely;
good rain to bring it out a lot.
The
black land is still holding up better than light land.
The town has re-
to
a
large extent.
however it is not too far gone for a
ceived about 150 to 160 bales, most of which have come from south and
east of town on the lighter land.
There are no insects whatever in evidence.
Weatherford (Parker County)—Our crop has deteriorated so fast from
dry weather impossible to estimate, but looks like a 50% decrease in prospects on Aug. 1.
Some of our cotton is too far gone for an ything to revive it.
Wills Point (Van Zandt County)—Heavy showers yesterday in spots
will do much good, especially to late cotton, and will mature lots of bolls.
Also the temperature the past three days has declined from the highs of
110 degrees and slightliy lower early part of the week.
A general rain
is needed and there is time yet to make a good crop.
Leaf worm damage
has been light.
Have received four bales of new cotton.
as
conditions from now until frost this county will do well to
much cotton as in 1934-35 when total ginning was 6,300 bales,
mill.
ARKANSAS
a
Conway (Faulkner CounM-The scenes have been shifted.
On Aug. 1st
bumper yield per acre, now our prospects are for a poor
the rains of July 20th hot weather set in, climaxed by
temperatures of 112 degrees on the 9th and 115 degrees on the 10th.
This
we had promise of a
to fair crop.
After
all time high.
We had hot winds on these two days and the effect
devastating.
All young fruit was destroyed and bolls wore cracked
was an
was
....
Plant
Opening fast on upland "and with continued dry weather bottom crop will
in.
Bolls premature.
Crop will be short in northern territory,
part better than last year.
Almost every point in southern
territory has received from one to 16 bales. There will be a small movement
before latter part of next week.
Mangum (Greer County)—Hot dry weather past two Weeks has caused
disaster to our cotton crop.
Close crop observers think this county likely
to produce around 1934 yield of 6,000 bales against 21,000 last year, but
since plant continues to bloom freely, believe could make top crop if could
get ample moisture coming week.
Very difficult to accurately guess a
cotton crop in this western section at any time.
Intense heat seemingly has
not hurt our cotton plant, but damage comes from fact that there Is no
moisture for roots to go to and no plant can survive in soil as dry as powder
.
,
opening prematurely.
southern
Royse City (Rockwall County)—A good general rain is needed.
If hot
dry weather continues the crop is finished and will be about one-half what
it promised on Aug. 1.
One-third bale of cotton on the best land, down to
on
Half-grown
goon come
" 18 B8,leral 0510100 that
Sulphur Springs (Hopkins County)—Extreme hot dry weather over our
entire territory has materially cut the prospective crop, estimates of the
damage being from 15% to 25% reduction in probable yield,
"With rain
next several days, however, a good part of estimated damage would be
replaced, I believe.
the countv
(Choctaw County)—Weather dry and hot over entire territory.
Cotton has suffered much deterioration—fewer blooms and much shedding,
^
one-fifth
over
Hugo
,
rain
Shedding is general
most favorable
make
.
a
dav
now dying in many fields.
A great
should rain.
small and still blooming, bolls small on
account of dry weather.
Has been no rain since last report.
About 20%
increase in acreage over last year.
No insects.
If we don't get rain soon
crop will be short, as it is deteriorating rapidly.
Movement will start
about Sept. 1.
Elk City (Beckham County)—We have had norainyet,, anditis very hot.
Cotton is wilting in the middle of the day and is shedding considerably,
The dry hot weather up to this time has cut the crop about one-half.
Hobart (Kiowa County)—Prospects have been cut about one half since
Aug. 1. The damage from excessive heat and drought is irreparable. With
Greenville (Hunt County)—Cotton has deteriorated every day past week.
Although still blooming it is shedding as fast as it puts on, and bolls are
opening prematurely in some fields.
Cotton in the heavier black land
is holding its own very well; if we could get a rain within next few days it
would put on new fruit and increase our crop by several thousand bales,
Although we will not make as much cotton in this section as we expected
a few weeks ago, will still make a very good crop; am sure will make between
50,000 and 60,000 bales in this county compared to 30,000 last year.
Honey Grove (Fannin County)—Weather very dry and extremely hot
past week; cotton declining fast.
Practically all farmers in this section
picking freely.
*
McKinney (Collin County )■—The extremely high temperature and hot
winds last four or five days have caused heavy deterioration to cotton .
From our close observation and with information from farmers from every
part of the county, have concluded a conservative estimate of the loss
from the heat wave is 33 1-3%.
Paris (Lamar County)—Extreme hot dry weather for past 10 days has
caused marked deterioration in cotton crop.
Heavy land is holding up,
but thin and mixed soil has lost heavily.
Heavy soil still blooming but
mostly in top of plant, and taost light soil has stopped fruiting.
Opening
is slow and picking
very slow.
Expect to get well under way next week.
SSta
each
deal of cotton past help even if it
Durant (Bryan County)—Plant
'
.
1%
about
b^aJe%b^iSrto%%on* ME- toSds. oKL*
^$uskiny (Payne County)—Crop damaged very much the past two weeks,
few
have
most of it off.
about
1.
Has been no improvement in the crop.
There has been slightly more
than an average of dead cotton.
Also insect damage higher than last year
at this time.
We consider crop made in this section; that is, we do not
North Texas
E™
crop
_
Clarksville (Red River County)-,—Due to the excessive heat and hot winds
nas
.
Deterioration has'reduced
cotton has not been severely damaged.
It does need rain, however. No
great amount of insect damage reported to date,
,
T
"
boutn iexas
Corpus Christi (Nueces County)—Cotton crop in this county is about made
and all needed is to be picked, although some farmers claim chance of some
Believe the counties of northwest Texas are losing 1,500
day this weather continues.
moisture has been terrible.
weeks.
Young bolls and squares are falling off.
Timpson (Shelby County)'—Picking is getting under way and is two weeks
earlier than last year.
Twenty bales have been received .at the compress
here.
The production will be far short of oqr estimate of Aug. 1.
Too
much rain the first half of July and excessive heat the first half of August,
Tyler (Smith County)—Cotton in this section has been severely damaged
during past week by excessive hot weather and hot winds.
In some sections squares and blooms are falling and the plants are shedding.
Late
Quanah
(Hardeman County)—Continued hot weather has ruined the
crop in this section.
Temperatures running from 110 to 119 degrees every
day this week.
no
40% from Aug 1 prospects.
Longview 0Gregg County)—As result of the extreme hot weather cotton
prospects have continued to decline the past week.
Cotton is opening
rapidly.
Many bolls are opening that have not matured.
A good rain
would still be beneficial to most of the crop.
Insects continue to do some
damage.
San Augustine (San Augustine County)-About a third reduction in our
crop as of Aug. 1 is indicated due to hot dry weather and hot winds past two
.
ri^
_
East Texas
Jefferson (.Marion County)—In the past two weeks the damage from heat
plenty of deterioration, especially on the tighter lands.
We need a good
rain everywhere and can't go much longer if we make anything at all.
Plainview (Hale County)—-Heat wave has burned many fields of cotton
beyond repair.
There has been little change in conditions during past two weeks.
crops.
v
„.
__
1261
Aug. 23,1935
Feet
_
New Orleans—
Memphis
Chronicle
Financial
143
open,
with the exception of very low places,
Little Rock (Pulaski County)—Our cotton crop has deteriorated materially
of extremely high temperatures accompanied by hot
The heat has effectively destroyed army worms, but also
burned the plant badly.
Shedding is excessive on uplands, and thin light
lands with the bottom lands faring somewhat better, although all sections
badly, damaged.
Estimates of deterioration run from 15% to 25%. We
past week as result
-
north winds.
have had no rain for two weeks, when .27 inch fell.
Record temperatures
last Sunday and Monday with 108 degrees and 110 degrees, and the daily
averages were from 8 to 14 degrees above normal.
Unless rains or we get
cloudy weather, crop will continue to fall back.
picking is slow on account of heat.
next week.
•
.
,.
Much cotton is open but
Ginning will be general by end of
_
Magnolia (Columbia County)—Considerably more dead Cotton than usual
at this date. Drastic deterioration has taken place since Aug. 1st, A good
rain and cooler weather might improve the crop but this is very doubtful.
The only insects that have survived the heat are the leaf worms.
Pine Bluff (Jefferson County)—Watch your stepl 11.75 fot December
cotton looks very reasonable until more of this crop is seen. We never had
a cotton crop that promised more August first; but today It looks like a
,
Financial
1262
chills, all wilted, drawn up and sick. The temperatures have
high.
Coupled with this we have had hot winds that
The lower bolls are opening fast.
The movement will begin when the weather moderates.
The worms are
under control, and the planters are resting easier.
Rain would do much
negro with the
Aug. 22,
Chronicle
1936
indetail:
Shipping News—Shipments
Bales
been exceedingly
caused the cotton to deteriorate rapidly.
Copenhagen—Aug. 15—Vasaholm, 149——
GALVESTON—To
To
good.
To
Searcy (White County)—There has been a slight increase in root rot in
Insect damage is not great.
As soon as they appear
To
cotton in the hills.
149
195
Oslo—Aug. 15—Vasabolm, 195
Gdynia—'Aug. 15—Vakaholm, 823
Gothenburg—'Aug. 15—Vasaholm, 265
Japan—Aug. 15—Buenos Aires, 657—Aug.
To
823
265
20—Atago
1,549
700
2,397
211
1,113
2,003
291
Maru, 892
To
15—Margaret Lykes, 700Bremen—Aug. 17—Bockenheim, 2,397
To
Hamburg—-Aug. 17—Bockenheim,
To Porto Colombia—Aug.
they are poisoned.
Plantations
the
from
Receipts
t
211
L-i
Liverpool—Aug. 15—Cripple Creek, 1,113- — --15—Cripple Creek, 2,003
Genoa—Aug. 19—Monbaldo, 291
Bremen—Aug. 15—Bockenheim, 1,350—Aug. 20—City
of Omaha, 458•'
—
HOUSTON'—To
Week
Stocks
Recelpts at Ports
To Manchester—Aug.
Receipts from Plantation
Towns
Interior
at
To
Ended
1935
1936
1934
1935
1936
1934
1935
1936
To
1934
To
May
15.
22
29
21,846
Nil
19,561
To
4.060
1,106
8,501
To
To Gothenburg—Aug.
NU
Nil
6,280
1,554,313 1,269,664 1,312,579
1,617,933 1,244,820 1,284,177
1,465.362 1,218,931 1.262,078
7,151
Nil
Nil
12.
47,072
32,597
19-
39.972
26-
21,698
Nil
Nil
Nil
Nil
25,524
1,424,612 1,201,295 1,236,729
34,989
34,833
47,623
59,054
18,907
14,317
13,466
8,706
5.
Nil
Nil
33.705
Nil
Nil
35,853
July
6,431
'
60,199 1,384,1541,181,353 1,222,383
34,622 1,349,5021,161,421 1,203,873
51,435 1,301,7651,145,008 1,179,660
21,952
9,188
13,918
17-
13,381
16.973
20.715
24-
28,419
37,205
81
39,742
46,866
3—
10.
193564
—
Nil
16,112
Nil
4,302
27,222
To Rotterdam—Aug.
Nil
25,760
34,849
35,787
43,693
To
50,608 1,255,364 1,133,5631,164,839
62,636 1,206,417 1,121,5461,145,796
Nil
Nil
7—
38,915
56,583
55,632 1,167,4011,111,532
52,891
61,492
50,645 1,144,6501,097,283 1,117,581
30,140
46,569
47,243
38,119
14-
21..
76,336
96,074
71,884 1,132,176 1,094,1241,104,626
63,862
92,915
58,929
1,128,283
39,943
To
To
Season
To
To
4,899",258
1American in sight to Aug. 21Bombay receipts to Aug. 20—
Other India ship'ts to Aug. 20
Alexandria receipts to Aug. 19
Other supply to Aug. 19*b
4,295,259
472,448
38,000
42,000
177",056
200
800
6,000
475,309
73,000
20,000
1,800
23,000
5,000
18,000
4,985,138
5,492,367
4,364,913
4,866,507
4,701,096
4,701,096
4,162,019
4,162,019
284,042
223,642
60,400
791,271
642,471
202,894
160,694
42,200
Total supply
13,000
10,000
Deduct—
Visible supply Aug. 21
Totaltakings to Aug. 21 _a.
Of which American
Of which other
148,800
18—Hastings, 370
14—Hastings, 74
To Manchester:—Aug. 14—Hastings, 244
—
MOBILE—To Bremen—Aug. 10—Frankfurt, 100--LOS ANGELES—To Liverpool—Aug. 10—Pacific Shipper, 197—To Japan—Aug. 10—President Van Buren, 656
NORFOLK—To Manchester—Aug. 19—City of Flint, 30
"
To Hamburg—Aug. 21—City of Baltimore, 413
SAVANNAH—To Gdynia—Aug. 21—Vasaholm, 500
To Bremen—Aug. 21—Clearpool
897-—
To Rotterdam—Aug. 21—Clearpool, 100
173,800
1935
1936
Forwarded
Of which American
Week
-
Aug
24,OOo!
38,000
13,000
73,000
Week
Aug. 1
Week
Aug. 1
20,000
Bombay
Since
Since
Since
Receipts—
1
88,000
each
Great
nent
Great
Conti¬
Britain
nent
Jap'n&
Conti-
\ China
| Total
&
Japan
OtherIndia-
1,000
21,000
2,000
6,OOo'
i~66o
10,000
11,000
—
i~66o
.
2,000
24,000
78,000
66,000
20,000
8,000
6,000
10,000
12,000
23,000
3,000
14,000
19,000
23,000
10,000
21,000
7,000
23,000
1,000
16,000' 21,000
14,000
38,000
25,000
5,000
35,000
55,000
24,000
Tuesday
Quiet.
33,000
66,000
42,000
26,000
Quiet.
Thursday
Friday
More
business
doing
85,000
84,000
104,000
Quiet.
P.M.
Mld.Upl'ds
Futures,
Market
opened
Quiet but
j
{ stdy., 5 to
[ 7 pts. dec.
f
4
P. M.
Steady,
6 to 8
pts.
advance.
6.74d.
6.65d.
6.75d.
6.85d.
6.86d.
6.75d.
Steady,
Quiet,
Quiet but
7 to 8 pts.
Quiet, un¬ stdy., 3 to 3 to 6 pts.
advance.
decline.
4 pts. adv.
changed.
Sready,
Quiet but
Easy,
Quiet,
Quiet but
stdy., 5 to 4 to 8 pts.
stdy., 10 to 7 to 8 pts. 5 to 7 pts. Steady, un¬
advance.
7 pts. dec.
changed.
decline.
advance.
14 pts. dec.
Prices of futures at
Sat.
Aug 15
1934
1935
1936
below:
Liverpool for each day are given
Aug. 21
Since Aug. 1
4,000
7,400
1,000
7,000
9,b00
3,700
October (1936)
Week
Exports (Bales)—
Aug.
Week
1
Week
1
Aug.
Since
Aug. 1
1,000
1,000
1,000
4,000
6,800
22,500
1,500
8,000
27,200
16,000
19 were
_
To America
_
_
2,000
3,000
5,000
1,0 JO
l
11,000
Total exports
t-4
2,666
JO-Srf* oo' c o o o
5,000
d.
6.32
d.
d.
6.19
2,000
4,000
9,000
1,800
3,700
20,700
Market—Our report
Mlddl'g
32s Cop
Tioist
to Finest
Upl'ds
Twist
d.
give
weeks of
d.
s.
d.
d.
ings.
Common
to Finest
d.
8.
s.
d.
Mlddl'g
Upl'ds
d.
9
0
@92
6.90
6.57
10%@ll%
10%@11%
9
0
@92
7.01
6.64
10
9
0
@92
6.92
9
1
@93
6.56
22...
9%@11%
9%@11%
9
1
@93
29-.
9%@11%
9
1
@93
@11%
•
June—
9% @11%
9% @11%
8
6.82
@93
7.00
9% @11%
8
9 1
@93
7.18
9%@11%
8 6
10%@11%
9 4
@97
7.18
10
@11%
8
11
9 6
@10 0
7.58
10
@10
@11%
@11%
9%@ll%
m@n %
10%@11%
io%@n %
5-
12„
26...
9 0
@
6.68
@92
9 1
9
1
9 3
*
6
8 6
6
@90
6.83
@90
@90
@90
6.79
6.76
6.85
July—
3—.
_
--
@12%
17...
11%@12%
24
9
7
11
9 7
@12%
10 3
10% @12
31...
6.94
8 6
@90
@ 90
6
6.94
1
7.47
10
8
6
@90
7.02
@10 1
@10 5
7.33
10%@11%
8
6
10
8
6
@90
@90
6.80
7.10
@10 5
7.02
9% @10%
8 7
@9 1
6.48
@10 5
6.92
9%@10%
8
7
@91
6.56
@10 3
6.74
9%@11
9
2
@94
6.33
@11
6.68
Aug.—
7—
»«•
14...
21...
-J
10% @12
10 3
10%@11% 10 3
-1 10% @11%
10 1
d.
6.26
6.20
...
6;27
6.25
6.26
6.19
6.17
6.19
6.12
6.12
6.20
6.20
6.18
6.28
6.26
6.27
6.20
6.18
6.20
6.12
6.13
6.20
6.20
6.27
6.26
6.27
6.20
6.18
6.20
6.12
6.13
6.20
6.20
May
6.18
6.17
6.26
6.25
6.26
6.19
6.17
6.19
6.11
6.12
6.19
6.18
October-
5.98
5.94
December
6.05
6.00
__
5.96
6.01
6.00
5.94
5.96
--
5.91
__
—
5.98
5.94
BREADSTUFFS
,
1936
of flour suffered a further re¬
Flour—All bakery grades
which reflected a further weakening of the
Rye is still under competitive pres¬
Semolina was cut 10c. per barrel.
Advertised brands
duction
of 5c.,
cash wheat situation.
sure.
patents showed no change
Mill offices, and spot
reported no improvement in the volume of busi¬
Throughout the week orders have been for odd car
of family
ness.
Cotton
May—
19...
6.12
brokers
8% Lbs. Shirt¬
Cotton
32s Cop
s.
and
1935
1936
8% Lbs. Shirt¬
ings, Common
d.
d.
6.27
6.19
6.18
«...
Friday Night, Aug. 21,
received by cable to¬
prices today below and leave those for previous
this and last year for comparison:
i-
6.19
d.
d.
d.
6.25
i
23,000
night from Manchester states that the market in yarns
cloths is steady.
Demand for China is poor.
We
15-
d.
6.23
MM.
6.17
.1
Note.—A cantar is 99 lbs.
Manchester
6.25
6.33
6.25
March.
34,800
Egyptian bales weigh about 750 lbs.
This statement shows that the receipts for the week ended Aug.
7,000 cantars and the foreign shipments 11,000 bales.
To Liverpool
To Manchester, &c
1_
To Continent and Indih
6.34
6.17
July
This
Since
This
Since
d.
d.
6.24
_
December
January (1937)
MM
This
Frl.
Thurs.
Wed.
-
Noon Close Noon Close
Close Noon Close Noon Close Noon Close
New Contract
This week
Tues.
Mon.
to
Aug. 19
Receipts (cantars)—
'
Wednesday
Alexandria Receipts and Shipments
Alexandria, Egypt,
10—
"
demand.
Monday
Quiet.
Market,
9,OOo'
13,000
1934..
2,000
65,000
42,000
55,000
9,000
16,000
10,000
1,000
—
2,000
1936
"
A fair
—„
Total all—
daily closing prices of
follows:
Market,
13,000
4,000
26,000
10,000
3,000
5,000
as
Saturday
Spot
12:15
3,000
been
46,000
market for spots and futures
Total
China
Bombay—
1936
47,000
16,000
181,000
37,000
day of the past week and the
Exports
Britain
100
59,000
9,000
178,000
42,000
3,000
185,000
41,000
of the Liverpool
tone
spot cotton have
Since August 1
For the Week
30
413
500
897
42,000
656,000
219,000
79,000
Of which American
The
197
656
54,000
645,000
233,000
47,000
641,000
234,000
31,000
155,000
33,000
Amount afloat
Aug. 20
From—
•
Total imports
Of which American
1934
•
2,541
370
74
244
100
Aug. 21
Aug. 14
Aug. 7
58,000
657,000
238,000
—
Total stocks--
All Ports
week:
Liverpool—Imports, stocks, &c., for past
July 31
India Cotton Movement from
121
5,740
969
300
5,240
44,615
Total
530,688
from Brazil, Smyrna, West Indies, &c.
Embraces receipts in Europe
.
GULFPORT—To Liverpool—Aug.
704,488
194,738
20,000
8,000
1,400
150
150
Dunkirk—Aug. 14—Bruxelles ,121 —
Japan—Aug. 16—Komaki Maru, 5,740
Genoa—Aug. 17—Chester, 969
Naples—Aug. 17—Chester, 300----------Liverpool—Aug. 19—Cripple Creek, 5,240
Manchester—Aug. 19—Cripple Creek. 2,541
PENSACOLA—To Liverpool—Aug.
4,159,657
4,755,000
Visible supply Aug.
—
—
—
Gdynia—Aug. 15—Toledo, 600----------Gothenburg—Aug. 15—Toledo, 50
MantyluetO—Aug. 15—Toledo, 16
CORPUS CHRISTI—To Havre—Aug. 14—Bruxelles,
To
Visible supply Aug, 14
—
— _
To
To
Week
Season
Week
263
1,696
538
348
2,743
2,150
707
507
884
469
600
50
16
To
1935
1936
Cotton Takings,
2,502
To
Supply and Takings of Cotton
World's
14—Blommersdijk, 707
i
Genoa—Aug. 19—Monfiore, 507Bremen—Aug. 15—Frankfurt, 884
To Hamburg—Aug. 15—Frankfurt, 469
To
Week and Season
*
209
18—
Japan—Aug. 18—Anubis, 2,150
To
Aug.
333
277
177
14—Vasaholm, 209
Japan—Aug. 12—Buenos Aires Maru, 1,55?—Aug.
Atago Maru, 949
NEW ORLEANS—To Havre—Aug. 17—Bruxelles, 263
To Leverpool—Aug. 19—Atlantian, 1,696
To Dunkirk—Aug. 17—Bruxelles, 538----To Marseilles—Aug. 18—Arispa, 348
—
To Manchester—Aug. 19—Atlantian, 9,743-—
Nil
1,808
i-
To
June
•
Hamburg—Aug. 15—Bockenheim, 333
Copenhagen—Aug. 14—Vasaholm, 277--Gdynia—Aug. 14—Vasaholm, 177
1,201
51,676 1,693,071 1,345,933 1,404,254
34,486 1.651,649 1,328,412 1,378,269
33,148 1.594,234 1.301,899 1,351,401
21,061
18,627
40,609
45,482
52.470
lots only.
Wheat—On the 15th inst.
There
was
inclined
to
prices closed }4c. to 3^c. up.
furnish incentive to those
little in the news to
operate on the
buying side.
showed declines of almost 2 cents,
Liverpool wheat
said to be due to a marked
drop in milling demand.
The Argentine market was closed
a holiday.
Hedging, together with rather heavy
marketings of new and old wheat in Canada, had a depressing
effect on Winnipeg prices.
Another adverse influence in
the Canadian market was the disappointing demand for ex¬
because of
This combination of/influences naturally had a de¬
pressing effect on the Chicago market in the early session.
Towards the close prices firmed up considerably, this said to
be due largely to substantial short covering.
On the 17th
inst. prices closed l^e. to 23^c. higher.
This market de¬
rived its strength largely from the pronounced strength in
corn, the prices of which continued to soar.
An added
port.
#
Volume
143
Financial
bullish factor in the wheat rise
was
prices in the Winnipeg market.
market
attributed to
was
Chronicle
of
gain in
be for the
On the 18th inst. prices
closed
^c. to y8c. up.
The violent upward movement of
completely dominate the other grain markets.
The action of wheat, however, was rather
disappointing in
view of the pronounced .strength in corn.
There were cer¬
tain influences working against a further substantial rise in
wheat, for instance: heavy arrivals of nearly 1,000 cars at
Winnipeg and a bearish unofficial estimate of the 1936
seemed to
corn
Canadian crop.
There also
was a statement circulated that
has seeded the largest acreage of wheat
in three years.
Dominion growers continued to market their
newly harvested wheat freely.
Wheat prices advanced
Argentina this
season
•
about
a cent from the
opening prices, only to later drop back
profit taking.
Subsequently, prices rallied and closed
at the highs of the day.
On the 19th inst. prices closed
Vse. lower to %c. higher.
This level represented a drop of
as much as 2 He. from the
highs of the day.
The early
strength of this grain was due largely to the pronounced
strength in the corn market.
It was officially conceded
that the new Canadian crop, based on threshing returns, will
prove as large or larger than earlier anticipated, and the
quality is reported as generally high.
Argentina's newly
on
to be focused almost
dominated to
On
in
this
weakness of
the
no
grain
to
statement
that
large measure
due
to
growers
the
OF
DAILY
CLOSING
PRICES
OF
**
September
111%
^_._110%
108%
December
May
Season's High and When Made
September
116%
December
115
May
116
DAILY
CLOSING
114
113%
111%
114%
113%
110%
PRICES
October
OF
100%
99%
May
101
.
,
99
100%
126%
the
soothing effect
as
this should have
was
a
on
corn
in Chicago to fill
outstanding September requirements
34
to
in
He.
corn
down.
and
115%
100%
96%
116%
100%
96%
56%
52%
85%
other
There
114%
98%
94%
112^
97'
93
June
2, 1936
June
2, 1936
July 29, 1936
CLOSING
PRICES
CLOSING PRICES
.
.
OF
OF
Season's High and When Made
September
45%
46%
48%
May..
Today
OATS
Mon.
:
IN
NEW
Tues.
55%
very
YORK
Wed.
56%
Thurs.
56%
56%
Fri.
55%
OATS
Sat.
42%
43%
44%
*
grains.
was
little in
market being affected appar¬
54%
December
FUTURES IN CHICAGO
Mon. Tues.
Wed.
Thurs. Fri.
43%
44%
45%
44%
45%
46
44%
45%
46%
44
43%
44%
45%
44%
45%
Season's Low and When Made
Aug. 19, 1936 September
Aug. 19, 1936 December
Aug.
3, 1936 May
25%
26%
40%
June
2, 1936
May 27, 1936
July 29, 1936
DAILY CLOSING PRICES OF OATS FUTURES
IN WINNIPEG
Sat. Mon.
Tues.
Wed.
Thurs. Fri.
October
47%
,45%
December—
48%
48%
46%
45%
48%
45%
48
45%
47%
44%
Rye—-On the 15th inst. prices closed 134c; to 1 %c. higher.
This grain was influenced by the
strength of the other grains
a better spot demand for
rye.
On the 17th inst.
and
prices
y to 1
higher.
The principal strength was in
the September delivery, which scored a new
high.
The spot
market also registered a new high.
It would seem like a
tight spot situation in this grain, the same as in corn.
On
the 18th inst. prices closed He. to
1%q. up.
Rye, of course,
was influenced by an increased
spot demand and the strength
closed
of wheat and corn,
especially the latter.
On the 19th inst.
prices closed He. down to 34c. up.
There was very little
of interest in this market, attention
seeming to be entirely
focused
On
was
on
the
no
the spectacular movements of
20th
real
inst.
prices closed 34
feature to
to
corn.
%c. lower.
There
the
trading, the lower tendency of
prices being attributed almost entirely to the weakness of
other grains.
Today prices closed 34 to %c. down.
This
market also
DAILY
the
Attention of traders focused to a
great degree
the fact that there are but 184,000 bushels of contract
weakness
May
was the extreme allowable
similar violent upward move
before 1930.
Fri.
130%
Season's Low and When Made
the action of this
news,
September
December
anything
previous day.
The advances of this session brought
prices to the highest level in eight years, and incidentally
to a premium over wheat, an experience not recorded
since
Made
111%
98%
94%
Aug. 19, 1936 September
Aug. 19, 1936 December
Aug.
3, 1936 May
,
This
in addition to
the
DAILY
on
yesterday's finals.
limit and
When
No. 2 white
the element committed to the short
side.
Sales of the spot grain for
shipment dropped sub¬
stantially.
On the 18th inst. prices closed lHc. to 434c.
above
95%
91%
Sat.
September option.
The open interest in this contract was
reported to be practically double the supply of actual corn
at all principal terminal markets, while the total
supply in
Chicago could hardly equalize l-10th of this open interest
if fall of the spot grain there were suitable for
tender.
It
situation such
of
DAILY
full permissible daily 4c. limit
pronounced strength of this grain was
largely to short covering, particularly in the
a
132%
ently by the heaviness of other grains.
99%
98%
100
The
that
Thurs.
the 20th inst. prices closed
% to %c. lower.
There
nothing to account for the heaviness of this grain out¬
side
practically the
seem
99
prices closed
east of the Mississippi River.
The shipping demand
spot corn continued good, while bookings from the
country dropped off to moderate proportions.
On the
17th inst. prices closed 334c. to 3%c.
up.
September corn
a
YORK
Wed.
135
On
for
would
High and
119%
102%
—
was
areas
but
NEW
134%
prices closed unchanged to 24c.
There was very little of interest to the trading in
grain.
On the 17th inst. prices closed He- to. 34c.
higher.
Trading was quiet with the upward movement
influenced by the strength in other
grains, particularly corn.
On the 18th inst. prices closed
He- to 24c. up.
The strength
in this grain could be attributed almost
entirely to the pro¬
nounced strength in corn, all
grains being affected by it.
On the 19th inst. prices closed
34c. to He. higher.
There
was very little
worthy of comment on this grain.
rainfall and a forecast for more showers en¬
some short selling on the part of professionals.
The -way these offerings were taken
appeared to cause a
sharp turnabout movement on the part of tlie short element,
and substantial covering took place in the later
session which
resulted in fractional gains for the
day.
Crop inspectors
reported some benefits from the recent precipitation.
Some
anticipated an improvement of as much as 10% in
large
attributed
IN
Tues.
130%
this
overnight
couraged
at
CORN
Mon.
Oats—On the 15th inst.
prices closed 34c. to He. up.
The early weather reports were
decidedly favorable to the
bearish side and corn reacted in that direction.
Additional
advance.
126%
_
considrable
43,581,000 bushls.
was
up.
Corn—On the the 15 inst.
closed
corn
OF
Sat.
May
113% 113%
112% 112%
110% 110%
100%
CLOSING PRICES
108
Season's
Apr.
3, 1936
May 28, 1936
Aug. 11, 1936
102% 103
102%
101% 101% 100%
102% 102% 102%
These influences have caused
Open interest in
__
September
WHEAT FUTURES IN WINNIPEG
Sat. Mon. Tues.
Wed. Thurs. Fri.
December
belt.
'
December
Season's Low and When Made
Aug. 19, 1936 September
82%
Aug.
3, 1936 December
85
Aug.
3, 1936 May
—107%
corn
September
FUTURES IN CHICAGO
Mon. Tues.
Wed.
Thurs. Fri.
113%
112%
110%
lowest
The continued
due largely to
was
May
IN NEW YORK
Tues.
Wed. Thurs. Fri.
126%
grain
December
WHEAT
Sat.
this
DAILY CLOSING PRICES OF CORN
FUTURES IN CHICAGO
Sat. Mon.
Tues.
Wed.
Thurs.
Fri.
WHEAT
Mon.
in
the
in
day's
Today prices closed 1 to 2c. down..
No. 2 yellow
93,627,000
Sat.
fallen
widespread moisture tomorrow,
lower, contrasting with recent tor¬
were
in
__
bushels.
.123% 126% 127% 128
had
factors
that further intensified the effects of the
drought.
closed nervous at around the
DAILY
to the reports of unfavorable moisture conditions for domes¬
tic winter wiieat. •' Open interest in wheat was
PRICES
rains
influential
futures
in the
selling developed which caused prices to
ease.
Commission houses and pit traders were the
prin¬
cipal buyers of wheat futures.
Some attention was given
____
soaking
the
were
for further
were
liquidation.
considerable
CLOSING
This
two factors, the
reports of prospective heavy imports of corn from the Ar¬
gentine, and the soaking general rains that fell recently
of 87He.
Balkans,
prices in Winnipeg.
prices closed unchanged to He. higher.
Uneasi¬
ness over the disturbing
political situation in Europe tended
to lift the price of wheat
today.
However, in the late ses¬
DAILY
that
belt
decline
ease
No, 2 red
lower.
were
levels.
Today
sion
the
temperatures
rid heat
for the world's wheat business later in the
season, together
with
increasing current competition from the
tended to
234c.
to
help prospects.
Corn
Favorable growing conditions in Argentina
countries that may compete with Canada
Australia,
1
setback, amounting in some cases
Repofts of heavy imports of corn from
few, however, who felt that the rains
Reports were received that in several
regions of the belt plants are reviving beyond expectations.
will
Considerable significance was attached to the Dominion
Board's statement that it desired to withdraw from
private
and
prices closed
sharp
advices
of
There
Forecasts
change in its guaranty price to wheat
grain business.
and
many areas
and
a
were a
inst.
a
bushel.
a
decline.
further affected by
Canadian Government would make
the
4c.
the
in
was
20th
Argentina
,
Wheat prices were
corn.
the
on
of
they
No. 2 white corn at $1.37 a bushel, almost 18c. over the
price of September contracts.
A factor largely responsible
for the right-about-face action of
speculators was the report
current that vessel space for
10,000,000 bushels of Argentine
corn had been chartered in the last two weeks
for shipment
to North America.
Facts worthy of note are: The advance
of 4c. during this session had outdone the
16-year high
price records; this was also the third successive day in which
corn had skyrocketed about the allowable
limit, 4c. a bushel
for any 24-hour period.
Corn closed nervous.
On
the action of the corn mar¬
other grains seems to be
large extent by the action of corn.
inst. prices closed 34 to 134c. lower.
The
20th
the
decline
entirely
movement
a
half what
grain suffered
seeded crop continues to be favored with desirable weather.
Attention of the trade from a speculative standpoint, seems
kets, and the
9,643,000 bushels.
were
but believed to
States millers.
1263
Primary receipts of corn, moreover,
week ago.. Scorching tempera¬
tures in Iowa and Illinois, the two foremost corn
States,
approached 115, indicating a further substantial reduction
in the meager supplies of corn available.
Corn closed
strong at the topmost point of the day.
On the 19th inst.
prices closed 34c. lower to 34c. higher. Prices at) one time
during the session were 3 He. above the previous close.
Big profit taking sales set in when the market had reached
an apparent climax with a
purchase of immediate delivery
The rise in the Canadian
consistent demand for the spot
a
grain, not labeled for export,
account of United
the substantial
came
CLOSING
under the reactionary influence of corn.
PRICES
OF
,
RYE
Sat.
.
,
September
82%
..80%
78%
December
May.
Season's High and When Made
September
December....
85%
85%
May
84
FUTURES IN CHICAGO
Mon. Tues.
Wed.
Thurs. Fri.
84%
80
79%
85%
83%
81%
84%
83%
81%
84%
83
81
83%
82%
80%
Season's Low and When Made
49%
May
4,1936
Aug. 18, 1936 September
Aug. 19, 1936 December
Aug. 4, 1936 May
55%
75%
June
3, 1936
Aug. 11, 1936
Financial
1264
DAILY
CLOSING
OP
PRICKS
October
--
DecemberDAILY
—
—
.
BARLEY
OF
PRICES
CLOSING
82
79%
79%
76
December
May
..
83
79%
83
80%
83
78
——
Aug. 22, 1936
Wheat
81%
76%
Baltimore
Fort Worth
-
,
60%
—
October.
61%
58%
July
58%
61%
58%
61%
58%
59%
56%
Hutchinson.-----Kansas
54%
Omaha
City.
^ '
V
Oats, New York—
No
2 white
55%
Rye. Vo. 2, f.o.b. bond N. Y
75%
Barley, New York—
47% lbs. malting
•
89
Chicago, cash
125-143
130%
Spring pat8.,higb protein
Spring patents
Clears, first spring
•
Soft winter straight*—.
Hard winter stra gh s—
Hard winter pate nt».
* 5.20@530
7. 40@7.70l Rye flour patents
7 00@7.20!Seminola, bbl., Nos. 1-3. 9.80(&
Hard winter clearr
5
...
-
05@6.35IOats, good
3.40
35@5.751 Corn flour
5.75
30@6 35 Barley goods—
45@6.7')
Coarse5.75
45@5.65
Fancy pearl,No8.2,4&7 8.60@8.90
6
76,000
253,000
22,000
4,000
25,000
91,000
235,000
294,000
1,953,000
4,742,000
12,000
94,000
31,000
14,000
49,000
------
.
All the statements below regarding the movement of grain
—receipts, exports, visible supply, &c.—are prepared by us
from figures collected by the New York Produce Exchange.
First we give the receipts at Western lake and river ports
for the week ended last Saturday and since Aug. 1 for each
2,190,000
643,000
930,000
5,000
On Lakes...
1,622,000 10,676,000
1,862,000
1,462,000
143,000
982,000
6,047,000
*3,283,000
178,000
43,000
427,000
39,000 19,243,000
16,000
7,007,000
8,000
13,000
544,000
1,192,000
173,000
38,000
1,927,000
1,723,000
10,000
485,000
610,000
4,786,000
954,000
110,000
410,000
4,506,000 48,691,000
6,370,000
—
—
Minneapolis
—
Duluth.*..--
200,000
6,184,000
Detroit
——
afloat-.
444,000
59,000
-----
On Canal
Total Aug.
*
-----
-10,189,000
—
Milwaukee..-.
429,000
1,167,000
196,000
------
•——
15, 1936—75,824,000
Duluth—Includes 119,000 bushels of feed wheat.
Note—Bonded
grain
included
not
above:
Barley,
Duluth,
456,000
Corn
Oats
Rye
Barley
bbls.imbs, bush. 60 lbs. bush. 56 lbs. bush. 32 lbs. bush. 56 lbs. hush ASlbs.
747,000
Minneapolis..
1~8~O66
Milwaukee-..
1,359,000
235,000
28,000
290,000
Detroit.
Indianapolis..
143,000
46,000
Loiuis
Peoria
...
1,181,000
594,000
71,000
234,000
28,000
2,688,000
23,000
Kansas City..
233;66O
308,000
368,000
94,000
93,000
297,000
75,000
Toledo
Omaha
St.
622,000
182,000
599,000
Duluth
St.
1,805,000)
1,735,000
257,000
Chicago
Joseph._.
Wichita
Sioux City.—
Buffalo
70,000
14,000
44,000
2,000
10,000
27,000
70,000
160,000
218,000
34,000
76,000
366,000
114,000
7,000
62,000
1,037,000
6,000
589,000
607,000
402,000
310,000
461,000
69,000
,
'
36,0001
938,000
159,0001 2,857,000
105,0001
275,000
10,000 1,007,000
3,000
42,000
44,000
82,000
bushels
afloat, 230,000; Duluth, *5,125,000;
Erie, 1,888,000: Albany, 2,874,000; Chicago;
81,000; on Lakes, 292,000; Canal, 679,000; total, 20,503,000 bushels, against 16,968000 bushels in 1935.
*
Includes 48,000
bushels of feed wheat.
■\
Wheal
Corn
Bushels
Canadian—
Bushels
Oats
6,938,000
Ft. William & Pt.
Wheat
Flour
8,978,000
Buffalo, 17,000; total, 473,000 bushels, against 226,000 bushels in 1935.
Wheat,
New York, 1,448,000 bushels; New York afloat, 308,000; Buffalo, 7,578,000; Buffalo
—
Arthur.18,239,000
——
Rye
Barley
Bushels
Bushels
Bushels
320,000
1,798,000
145,000
275,000
1,109,000
1,273,000
Other Canadian and other
Receipts at—
3,000
69,000
199,000
39,000
113,000
14,000
26,000
-----
-
Chicago
Montreal
of the last three years:
1,000
...
4,850,000
*'
5
6
1,000
St. Louis.—
Buffalo
FLOUR
6
10,000
104,000
1,000
42,000
61,000
443,000
34,000
158,000
-
Peoria
No. 2 yellow, all rail....
28,000
Indianapolis
;
GRAIN
Corn, New York—
—
Sioux City..---
Closing quotations were as follows:
Wheat, New YorkNo. 2 red, c.i.f., domestic—126%
Manitoba No. 1, f.o.b N Y. 107%
2,061,000
19,271,000
5,935,000
712,000
St. Joseph
57%
Barley
Bushels
6,000
—425,000
3,543,000
1,713,000
5,586,000
Galveston
Rye
Bushels
197,000
1,072,000
3,000
-
New Orleans
Oats
Bushels
65,000
57,000
4,000
72,000
848,000
Philadelphia
-—
OF BARLEY FUTURES IN WINNIPEG
Sat.
Mon.
Tues.
Wed. Thurs. Fri.
CLOSING PRICES
Corn
Bushels
58,000
Wichita
DAILY
STOCKS
Bushels
United States—
New York
FUTURES IN CHICAGO
Tues.
Wed. Thurs. Fri.
Mon.
Sat.
September
Chronicle
GRAIN
RYE FUTURES IN WINNIPEG
Sat.* Mon. Tues.
Wed. Thurs. Fri.
66%
68
69,%
70%
68%
68
65%
66%
68%
68%
67%
66
;
24,766,000
*
1,625,000
239,000
455,000
3,743,000
1,657,000
1,839,000
75,824,000
49,943,000
4,506,000 48,691,000
3,743,000
6,370,000
1,657,000
8,978,000
1,839,000
Total Aug. 15, 1936—125,767,000
4,506,000 52,434,000
8,027,000 10,817,000
water points
Total Aug. 15,
1936-— 49,943.000
—
Summary—
American
Canadian..
—
.
——
The world's shipment of wheat and corn, as furnished by
Broomhall to the New York Produce Exchange, for the week
ended Aug. 14, and since July
shown in the following:
6, 1936, and July 1, 1935,
are
■
51:66O
873,000
15,000
60,000
Wheal
24,000
174,000
Week
Expo. Is
Corn
Since
Since
Week
Since
Aug. 14,
July 1,
1936
1936
Bushels
Bushels
Since
'
Total wk.1936
9,112,000
17,291,000
8,602,000
487,000
343,000
338,000
Same wk.1935
Same wk.1934
5,658,000
4,678,000
1,038,000
10,079,000
9,052,000
1,940,000
334,000) 2,090,000
1936
1935
42,300,000
56,026,000
26,635,000
1,375,000
1,017,000
1,009,000
..
-.
1934
14,468,000
4,463,000
33,382,000
21,033,000
14,902,000
6,733,000
1,861,00011,240,000
1,579,000, 4,022,000
709,000
4,927,000
receipts of flour and grain at the seaboard ports for
the week ended Saturday, Aug. 15, 1936, follow:
Oats
Corn
Wheat
Flour
Receipts at-
Barley
Rye
Australia
121,000
152,000
Baltimore
New Orleans *
76,000
39:606
Montreal
90,000
"V.OOO
1,000,
663:660
Sorel
32:660
Total wk.1936
Since Jan. 1'36
Week 1935...
Since Jan.1'35
2,747,000)
75,160,000!
264,000
7,700,000
36,000
131,000
2,891,000
135,000
4,641,000
92,000
2,684,000
3,253,000
1,536,000'
1,205,000
27,921,000
11,423,000
109,000'
26,000
9,943,000 3,920,000
126,000
2,157,000
through bills of lading.
,
;
v
.
The exports from the several seaboard ports
ended Saturday, Aug. 15, 1936, are shown in
for the week
the annexed
statement:
Wheat
Corn
Flour
Oats
Rye
Barley
Bushels
Bushels
Barrels
Bushels
Bushels
Bushels
502,000
201,000
—
Albany
48,561
"LOGO
Baltimore
New
Orleans
Montreal
Halifax
3,000
......
663:000
Sorel
39:666
1,292,000
32:66a
19:666
1,000
_
304:660
Churchill
214,000
Three Rivers
Total week 1936..
Same week
3,176,000
1,459,000
1935
92,561
46,915
The destination of these exports
July 1, 1936, is
19,000
43,000
47.000
32,000
118,000
,
for the week and since
below:
as
Corn
Wheat
Week
Since
Week
Since
Aug. 15
July 1
Aug. 15
July 1
and Since
5,464,000
136", 000
1,957", 000
3,088:666
8,948,000
54,032,000
47,614,000
7,376,000
42,581,000
51,885.000
Weather
Report for the Week Ended Aug. 19—The
of the weather bulletin issued by the
Department of Agriculture, indicating the influence of the
weather for the week ended Aug. 19, follows:
The week
characterized by abnormally warm weather, especially in
country, and by scanty rainfall.
Temperatures were
persistently high in the Ohio Valley and between the Mississippi River and
Rocky Mountains, with weekly means in most of the area ranging from
Since
Week
Aug.
15
July 1
1936
1936
1936
1936
1936
Barrels
Bushels
Bushels
Bushels
Bushels
Kingdom—
So. & Cent. Amer.
39,050
3,941
21,000
326,381
85,135
127,000
216,000
Brit. No. Am. Col.
27,000
1,000
Other countries™
570
20,815
92,561
780,331
46,915
455,531
West Indies
Total 1936—
..
Total 1935
The
visible
supply
1,967,000
970,000
17,000
country, they
19 degrees above normal (see Chart I).
In the
prevailed, while very locally in the North¬
slightly below normal.
Otherwise, throughout the
as
222,000
249", 000
T,66o
70,000
4,000
3,176,000 20,089,000
1,459,000 v. 8,403,000
comprising
1,000
l,00u
the
above normal.
degrees at Concordia, Kans.,
on the 12th.
The persistency of the heat wave
by the fact that for the last 10 days maxi¬
temperatures of 100 degrees or over have occurred daily at Oklahoma
City, Okla., Wichita, and Dodge City, Kans., and North Platte, Nebr.,
the average of the 10-day maxima being 106 degrees at Oklahoma
City,
108 degrees at Wichita, 107 degrees at Concordia, 106 degrees at Kansas
City, and 103 degrees at North Platte.
'
in mid-western sections is shown
mum
Chart II shows that much the greater portion of the country had little or
rain
during the week.
Showers
again rather widespread in the more
Mountains * eastward and north¬
eastward, and in the extreme Southeast, though in some parts of this area
there
States
was
little
from
the
or no
rain.
were
Appalachian
In central and west Gulf sections the week
was
practically rainless in most districts.
•
In the interior valleys there were good local showers in southern
Ohio,
extreme eastern Kentucky, the northern portions of Indiana and
Illinois,
the southern parts of Wisconsin and Minnesota, eastern South Dakota,
and locally in Iowa.
Otherwise, rainfall was of a decidedly local character,
much of the greater portion of the area between the Appalachian and Rocky
Mountains receiving no rain of consequence.; There were some good local
showers in mountain districts of the West, including the northern portions
of New Mexico and Arizona, parts of Utah and
Colorado, northwestern
Wyoming and southeastern Idaho.
There were also some good falls in
west-central Montana.
West of the Rocky Mountains and the eastern
Great Basin the week was rainless.
No extensive drought-relieving rains occurred during the week, and
extremely high temperatures intensified the unfavorable dryness over much
of the interior of the country.
Showers were helpful in parts of Kentucky,
rather generally in Ohio,
northern Indiana, northern and east-central
Illinois, northern Michigan, in much of Wisconsin and Minnesota, and in
about a dozen counties in north-central and northeastern Iowa.
While
were
sufficient to be of material help, they were mostly inadequate
were not of much benefit to pastures.
intensified in the southern
portions of Indiana and Illinois, parts of Kentucky, and generally between
the Mississippi Valley and Rocky Mountains.
In addition, droughty conUi uons have now become
pronounced in Tennessee, Mississippi, northern
Louisiana, most of Arkansas, and rather generally in Texas.
below
'
5,000
of grain,
were
Maxima of 100 degrees or higher occurred over a large area
extending from
South Dakota and southern Minnesota southward, and also in the western
Ohio Valley.
The highest reported from a first-order station was 116
Rainfall
11,352,000
8,414,000
stocks
at principal points of accumulation at lake
seaboard ports Saturday, Aug. 15, were as follows:
granary
was
of the
On the other hand, unfavorable conditions were
1936
Continent
summary
for present needs and
Barrels
United
1,000
2,348,000
46,448,000
10,105,000
6,619,000
Total-.—
these
Flour
Exports for Week
July 1 to—
Bushels
7,010,000
200,000
no
York
•
1,000
4,082,000
36,541,000
4,480,000
-
._
eastern
New
15,676,000
621:666
712:666
.
10 degrees to as much
Receipts do not Include grain passing through New Orleans for foreign ports
Exports from—
7,044,000
east temperatures were
235,000
9,297,000
Bushels
1,
1935
extreme South moderate warmth
Y "i:666
Halifax..
I
July
1,892,000
j
the interior
19,000
1,292,000
19,000
Boston
on
2,000
11,000
35,000
27,000
28:666
Galveston.
*
42,000
41,000
63,000
17,000
10,000
536,000
21,000
15,000
19,000
York
New
Philadelphia-
.
1935
Oth. countr's
general
bbls.imbs. bush. 60 lbs. bush. 56 lbs. bush. 32 lbs. bush.56lbs. bush.ASlbs.
Bushels
Argentina—
India
Total
July 1,
31,938,000. 15,065,000
3,360,000;
1,304,000
4,569,000
712,000
1,063,000
Black Sea-
1,
1936
Bushels
North Amer.
Since Aug. 1-
July
Aug. 14,
1936
482,000; 5,446,000
767,000 1,921,000.
in
and
during August, up to the 18th of the month, was markedly
throughout the interior and southwestern portions of the
normal
country.
In the Ohio Valley, considered on a State average basis, the falls
for the month have ranged from a little more than half the normal in
Indiana to about three-fourths of normal in Kentucky.
Between the
Mississippi River and Rocky Mountains less than half the normal has
occurred in every State, with the relatively smallest amounts in North
Dakota, Arkansas, Oklahoma, and Texas.
Available reports show that
Arkansas has had only about 12% of normal rainfall for these 18 days,
Texas 10%, and Oklahoma 2%.
Mississippi and Tennessee have had only
about one-third of normal.
The outlook continues generally
favorable, with
crops
making satisfac¬
tory progress, in the southeastern area from Alabama to Virginia;
In the
middle and north Atlantic sections conditions are more spotted.
Showers
.
Volume
Financial
143
Chronicle
during the week were decidedly helpful in New England, except in the
south, and less general falls were beneficial in other States, though drought
continues serious in western New York and locally in Pennsylvania.
A
central
good general rain is needed from Maryland northward.
In Montana some beneficial local rains occurred in the north-central
and southwestern portions, but otherwise there has been no material
change, while rain is again badly needed in central and eastern Wyoming.
Prom the Rocky Mountains westward the situation continues favorable,
with ranges and stock mostly in satisfactory condition, except that pasture
lands need moisture badly in Washington, and parts, of New Mexico are
much too dry.
■
Small Grains—Threshing of spring wheat is nearing completion with
mostly poor yields.
Ideal conditions for threshing prevailed in the Pacific
Northwest, being the most favorable in years in Washington.
In Kansas
much grain sorghum is still green in the northwestern portion of the State
and would make grain with early rain.
In the winter wheat belt plowing
is being retarded because of dry soil, but considerable has been accomplished
in the eastern Ohio Valley.
''
l
Corn—The corn crop shows improvement, because of recent showers,
in parts of the eastern belt, but nearly everywhere between the Missis¬
sippi River and the Rocky Mountains the continuation of hot, dry weather
has caused further deterioration, rather marked in many places.
In Kentucky the crop shows general improvement in the south and
progress was fair in most northern portions of the State, while in Ohio
development was poor to fair in the south and fair to good in northern
sections.
In Indiana showers in the north have improved the outlook,
but in most of the south heat and dryness caused further deterioration.
In Illinois progress was fair in areas favored by rain, principally in the
north and east-central portions, but further damage is reported in the
south and west.
In Missouri most of the crop has already been cut for
feed, while in the Plains States the weather continued decidedly unfavor¬
able.
In Minnesota showers were decidedly helpful.
In Iowa moderate to good helpful rains occurred in about a dozen coun¬
ties in the north-central and northeasternvportions of the State, but other¬
wise deterioration was reported from most sections; plants continued to
bring out new tassels, but pollen was promptly killed by the high tem¬
peratures; there are occasional good fields on north and northeast slopes,
in hollows, and to the-leeward of tree shelter belts.
In the east Gulf and
most of the Atlantic States corn continues to make satisfactory advance.
Cotton—In the cotton belt temperatures during the week ranged from
extremely high in the Northwest to about normal in the Southeast. Scattered
showers occurred in the eastern half, but the week was rainless in most
sections west of the Mississippi River.
Progress of cotton continued favor¬
able in the eastern belt, but unfavorable quite generally from the Missis¬
sippi Valley westward.
i
In Texas the prolonged absence of rain and abnormally high temperatures
have produced unfavorable conditions and cotton is now deteriorating
rather rapidly over most of the State, with pemature opening and much
top blooming; in the south third and along the coast progress and condition
are still generally good; picking advanced rapidly, especially in the south.
In Oklahoma the drought has become extremely severe, with abnormally
high temperatures persisting and practically no rain during the entire
month so far; there is much wilting and some plants are dying, with many
reports of premature opening; picking has begun in some eastern and
southern localities, with yields very poor.
In the Mississippi Valley States the crop is now generally needing rain,
with deterioration reported in northern Louisiana and much of Arkansas,
though conditions are still mostly fair in the eastern portion of the latter
State.
Progress was rather poor in western Tennessee and only fair in
Mississippi where rain is needed.
From Alabama and central Tennessee
eastward development is mostly good, through the crop is still late in many
places.
Picking progressed in southern districts and some early cotton is
beginning to open as far north as eastern North Carolina.
1265
fair.
,
^
_
The Weather
Bureau
furnished the
following
resume
of
conditions in the different States:
Virginia—Richmond: Light to moderate precipitation; temperatures
near normal.
Excellent week for all farm work and preparation for fall
planting.
Pastures, tobacco and late truck improving.
Early corn ripen¬
ing; late in good condition.
Peanuts rapid growth.
Cotton developing
nicely; some boll weevil infestation.
North Carolina—Raleigh: Crops doing well; weather favorable for cutting
hay and other forage crops.
Progress of cotton good; condition fair; some
early planted beginning to open in southeast.
Some improvement in
tobacco and good progress in curing.
South Carolina—Columbia:
Near normal temperatures, ample rains,
and sunshine favored crop growth and development; about laid by.
Late
corn, pastures and forage in excellent condition generally; old corn matur¬
ing better than expected.
Progress and condition of cotton mostly good,
though late; too much rain locally; blooming and boiling in north; picking
making fair progress in south; beginning well in central.
Georgia—Atlanta: Beginning cool; last 3 days warm; heavy rains in
some south-central counties and light most places, but soil still damp from
rains of 9-10th.
Cotton made very good progress though some places still
month late; blooming and boiling in north; picking started beyond Macon;
weather favorable for checking weevil nearly entire State.
Progress of
corn
very good to excellent; same applies to other growing vegetation.
Pastures fair to good.
Sweet potatoes still show effects of drought.
Florida—Jacksonville: Temperatures about normal, with moderate to
heavy rains.
Condition and progress of cotton fairly good; picking good
advance; some ginning;
Sea Island opening.
Corn mostly matured;
largely harvested.
Sweet potatoes good but late; some digging in south.
Truck seed beds doing well; fields being prepared.
Ranges good; citrus
excellent, fruit fair size.
Alabama—Montgomery: Widely scattered and mostly light showers,
except closed with general rain; normal temperature with abundant sun¬
shine.
Progress of cotton very good; condition fair to very good, aver¬
ages good; opening steadily; picking made fairly good advance in middle
and south, except where hampered locally by rain.
Corn, truck, sweet
potatoes, cane, pastures and miscellaneous crops made excellent progress.
Mississippi—Vicksburg: Progress of cotton generally fair with rapid
progress in opening, some prematurely, and heavy shedding; picking be¬
coming general in south ana central; warm, dry weather rendering damage
from insect infestation mostly light.
Progress of corn poor to deteriorated;
needs rain.
Gardens, pastimes and truck mostly poor advance.
Louisiana—New Orleans: Warm and dry,
except for widely scattered,
mostly light rains in south; week unfavorable and all crops needing rain.
Harvesting early rice; late varieties heading; irrigating to capacity.
Cane
holding well but progress retarded.
Progress and condition of cor^i poor
in north, elsewhere fair to good.
Cotton deteriorating in extreme north
where opening prematurely and shedding, with condition only
fair; else¬
where opening rapidly and condition good; picking good advance.
Texas—Houston: Slightly above normal over south half and hot over
north half, with record-breaking maxima this area; no rain of
consequence.
Intense heat and dry weather detrimental to all crops and ranges and rain
badly needed all sections.
In southern third of State and along coast prog¬
ress and condition of cotton generally good, but over major
part of State
cotton deteriorated rapidly during the week; premature opening, bloom¬
ing at top and shedding being widespread; average condition poor to only
fair; picking advanced rapidly, especially in extreme south where pick¬
ing and ginning nearing completion, with little prospect of any top crop
v
in this
area.
Oklahoma—Oklahoma
City: Warmest week of record; mean temperature
92 degrees and mean maximum 108 degrees.
Drought becoming more
serious daily.
Stock water and feed scarce over much of State; many cattle
farced to market.
Some
early corn on bottoms in southern and central
portions, but otherwise crop is failure; late feed and other crops deteriorating
rapidly.
Pastures practically gone; many fields destroyed by fire.
Cot¬
ton deteriorating with much wilting, some plants dying and much
prema¬
ture opening,
Picking started in scattered eastern and southern locali¬
ties; yield very poor; condition of crop generally poor.
Livestock fair to
poor.
Broom
corn poor
condition.
Arkansas—Little Rock: Cotton deteriorating badly in west and most
central portions; fair progress in most of east due to warmth and rains in
few scattered localities; very heavy shedding and opening
rapidly in west
and central portions; normal to
heavy shedding and opening in east*
condition spotted; badly deteriorated in northwest and on thin soil in
central; fair to excellent on good soil elsewhere.
Late corn, meadows
pastures, potatoes, sweet potatoes, tomatoes and truck destroyed in most
portions; poor to fairly good elsewhere.
Tennessee—Nashville: Heat and lack of rains caused rapid
depletion
west and some central
of
soil
but
need
moisture.
Progress of corn variable, depending upon moisture,
mostly very good; considerable early hardening; bulk forming ears;»
for rain urgent.
Progress of cotton rather poor in west; good in
and
east;
some
army
worms;
condition generally good; forming
bolls
heavily; opening in west.
Considerable hay cut; new growth slow;
pastures deteriorating in dry areas.
Early potatoes failure; late poor to
Considerable plowing done.
Kentucky—Louisville: Good rains in northeast.
Improvement slow¬
ing down or stationary in north-central and northwest where progress of
late corn
mostly poor to fair.
Condition of corn fair, except rather poor
locally.
Rain badly needed generally.
Improvement of crops and pas¬
tures in northeast and south;
soybeans and cowpeas fair in north; good
and much improved in south.
Tobacco improvement variable in north,
except stationary some places in northwest; good in south; topping more
general; some cutting.
Heat and rapid drying of soil, unfavorable for
late crops and forage.
THE DRY GOODS TRADE
New York, Friday Night, Aug. 21, 1936
Extremely hot weather prevailing in many sections of the
country curtailed retail trade somewhat during the past week.
\While the average gain over last year was believed to show
but little change from previous weeks, a number of districts
reported a marked decrease in consumer buying.
Particu¬
larly noticeable was the decline in the Middle West where
continued hot weather and drought conditions brought the
volume down to approximately last year's level.
Women's
apparel and accessories as well as fur and fur-trimmed coats
attracted fair interest, but results of August promotions in
the men's apparel and furnishing lines were somewhat
disappointing.
In the New York district the gain in sales
for the first half of August, according to the Federal Reserve
Bank, dwindled to 6.8%,'as compared with 13.1% for the
first half of the previous month.
New York and Brooklyn
stores showed an increase of 6% while stores in northern
New Jersey reported a gain of 10.7%.
Trading in the wholesale dry goods markets showed a
moderate decline from the active pace set during recent
weeks, although total commitments were still far ahead of
last year.
Re-orders on fall merchandise continued to be
received in good volume, but on summer goods no further
business came into the market.
Wholesalers, on their part,
showed some reluctance in replenishing their stocks, their
cautious attitude being largely due to the recent Government
cotton crop report and the ensuing decline in raw cotton
futures.
It was felt, however, .that buying will soon be
resumed, inasmuch
wholesale inventories were said to be
reported to be in a sufficiently strong
position to forestall any. attempt to force lower price?.
Delivery difficulties in most cotton constructions continued
acute, with mills sold ahead for several weeks.
Prices held
firm.
Following last week's rise in quotations for all-wool
blankets, part-wool blankets were advanced 2 V£%. Business
in silk goods was only moderately active, and prices showed
an easier trend, due to the
pressure of rather heavy stocks.
A much better demand, however, existed for velvets, and
rumors of impending markups in prices were heard.
Trading
in rayon yarns continued active, notwithstanding the some¬
what confused state of the market caused by the different
attitudes of the various companies as to the rebate system
under the Robinson-Patman Act.
With demand running
ahead of production capacity, the virtual shortage of yarns
continued, and producers were pbliged to ration their output
to buyers.
low and
mills
Domestic
as
were
Cotton
Goods—Trading in the gray cloth
quiet throughout the week.
Although
there was a good amount of inquiry for spot goods, with the
delivery situation remaining very tight and certain construc¬
tions being virtually unobtainable, buyers showed very little
interest in forward contracts, chiefly in view of the continued
market
continued
unsettlement in the
raw
cotton
market.
Business in
fine
The statistical position of mills, however,
remained strong, and prices continued firm.
A fair amount
of orders was received in fancies, with the tight delivery
situation causing buyers to place re-orders beyond their actual
requirements. Closing prices in print cloths were as follows:
39-inch 80's, 8c.; 39-inch 72-76's, 7^c.; 39-inch 68-72's, 7 to
7^c.; 38M-inch 64-60's, 5% to 6c.; 3834-inch 60-48's, 5M
to 5%e.
goods
was
light.
Woolen Goods—Trading in men's wear fabrics continued
quiet. Although mills began showing their new spring lines
including a wide range of worsteds, clothing manufacturers
so far refrained from entering the market on any considerable
scale.
Tropical worsteds, on the other hand, were again
bought freely for the winter resort trade. Reports from retail
clothing centers indicated somewhat disappointing results of
'August promotional sales.
An early revival of consumer
buying is, however, expected by most merchants. Business
in women's wear goods expanded materially, and a number
of mills was reported to have a backlog of unfilled orders
equalling several weeks' production.
Garment, manufac¬
turers ordered heavily on dress goods and coatings, as their
sales to retailers were well ahead of last year.
Stocks were
said to be at low levels, causing nearby deliveries rather
difficult to obtain.
Consumer interest in August sales was
reported to be quite satisfactory.
•
Foreign Dry Goods—Trading in linens continued fairly
Reports from foreign primary markets indicated a
active.
somewhat
contra-seasonal activity, caused by poor
crop
prospects for the raw material and an ensuing st&fening of
prices. Business m burlaps was moderately active. Interest
in forward deliveries increased, and
spot goods were sold in
fair volume.
Prices ruled firm, in sympathy with higher
Calcutta cables.
Domestically lightweights were quoted at
4.10c., heavies at 5.40c.
*
Aw?.
Chronicle
Financial
1266
•
Specialists in
Illinois & Missouri Bonds
'
$1,000.
8,000 Town of West Union, Doddridge County, W. Va., 4% waterworks
revenue
bonds.
The Empire National Bank of Clarksburg,
Clarksburg, W. Va., $1,000 per $1,000.
following
STIFEL, NICOLAUS A CO., Inc.
DIRECT
WIRE
Authorized
statement
has
Rescinded
and
by
/
Corporation—The
by the
been made public
also
above named Federal agency:
314 N. Broadway
CHICAGO
1936
58,000 South San Antonio Independent School District, Bexar County,
Tex., 4% schoolhouse bonds, series of 1934.
Russ, Roe & Co.,
San Antonio, Tex., $984 for $1,000.
38,000 Town of Kilmarnock, Va., 4% waterworks improvement bonds.
F. W. Craigie & Co., Richmond, Va., $1,031.95 per $1,000.
64,000 City of Snohomish, Wash., special waterworks 4% bonds, 1934.
Seattle Trust & Savings Bank, Seattle, Wash., $1,055.20 per
Loans
105 W. Adams St.
22,
ST. LOUIS
drainage and levee district in Missouri and a
district in Arizona, aggregating $1,521,500, have
the RFC.
This makes a total to date of $121,965,582
authorized under the provisions of Section 36, Emergency Farm Mortgage
Act of 1933, as amended.
The districts are:
Brevator Drainage and Levee District, Lincoln County, Mo
$31,000
Roosevelt Water Conservation District, Maricopa County, Ariz. 1,490,500
Loans for $92,500 have been authorized for refinancing three school
districts in Arkansas under the provisions of Public—No. 325 74th Congress
(S.3123).
This makes a total to date of $948,800 authorized under this
Loans for refinancing a
conservation
water
been authorized by
RECONSTRUCTION FINANCE CORPORATION
Report
the
text
on
of
Awards of Municipal Bonds—'The following is
the official statement released by the above
disposal of the greater majority of
a preliminary report on which
appeared in these columns already—V. 143, p. 1116.
A
total of $4,985,900 bonds were offered for sale, of which
$4,084,200 were awarded.
The crowded condition of our
columns prevented our publishing this statement in full
Corporation
on
price
$4,346,030.87.
price of
a
106.41.
rescinded:
District No. 1, Jackson County, Tex
1.
$60,000
District No. 4, Jackson County, Tex._
41,500
District No. 5, Jackson County, Tex
27,000
District No. 8, Jackson County, Tex...
»
15,000
Saratoga Drainage District, Marshall County, 111
2Q.000
41,000
Levee District No. 2, Scott County, Mo
408,000
Hidalgo County Water Improvement District No. 6, Tex..;
22,000
Drainage District No. 7, Lonoke County, Ark__
net premium of $261,830.87, representing
The bonds, the successful bidders and the
$1,000.
14,000 Village of Mount Prospect, Cook County, 111., 4% water revenue
bonds.
Municipal Bond Corp., Chicago. 111., $991.26 per $1,000.
7,200 Village of Roseville,
Warren County,
111., 4% waterworks
(revenue) bonds.
Municipal Bond Corp., Chicago, 111., $968.78
per$l,000.
per
City of Evansville, Ind., 4% sewage works revenue bonds.
Equitable Securities Corp., New York, N. Y., $1,051.20 per
$1,000.
34,000 City of Iowa City, Iowa, 4% sewerage revenue bonds.
Graefe
& Co., Des Moines, Iowa, $1,051.81 per $1,000.
842,000 State of Kansas, acting by and through the State Highway
Commission, 4% revenue anticipation warrants, series A. Charles
H. Newton & Co., Inc., N§w York, N. Y., $1,127.95 per $1,000.
119,000 Board of Education of Traverse City, Grand Traverse County,
Mich., 4% general obligation bonds.
Bonniwell, Neil & Camden,
Inc., Chicago, 111., $1,068.60 per $1,000.
152,000 Gulfport Municipal Separate School District, Harrison County,
Miss., 4% school bonds.
The First National Bank of Memphis,
Memphis, Tenn., $1,003.80 per $1,000.
27,000 Town of Hot Springs, Sanders County, Mont., 4% water bonds.
Foster Petroleum Corp., Westerly, R. I., $976.70 per $1,000.
130,000 The Board of Education of the Borough of Red Bank, N. J.„
4% school bonds.
Webster, Kennedy & Co., New York,,N. Y.,
$1,097.31 per $1,000.
285,000 Albuquerque, N. Mex., Municipal School District, 4% municipal
school district bonds.
Harris Trust & Savings Bank, Chicago,
111., and associates, $1,082,797 per $1,000.
42,000 Baldwin Fire District, Town of Hempstead, Nassau County,
N. Y., 4% district improvement bonds.
Geo. B. Gibbons &
Co., Inc., New York, N. Y., and associate, $1,042.80 per $1,000.
50,500 Union Free School District No. 5 of the Town of Machias,
Cattaraugus County, N. Y., 4% school improvement bonds.
A. C. Allyn &
Co., Inc., New York, N. Y., and associate,
$1,063.30 per $1,000.
73,000 Union Free School District No. 11 of the Town of Urbana,
.Steuben County, N. Y., 4% school building bonds.
Geo. B.
Gibbons & Co., Inc., New York, N. Y., and associate, $1,068
per $1,000.
89,000 Village of West Haverstraw, N. Y.-, 4%
sewer construction
bonds.
A. C. Allyn & Co., Inc., New York, N. Y., $1,066
per $1,000.
96,000 The City of Yonkers, N. Y., 4% assessment bonds.
Graham,
Parsons & Co., New York. N. Y., $1,106.11 per $1,000.
203,000 Town or Tarboro, N. C., 4% waterworks bonds and waterworks
bonds, second series.
Branch Banking & Trust Co., Wilson,
N. C., $1,006.41 per $1,000.
54,000 City of Thomasville, N. C., 4% water bonds.
R. S. Dickson
& Co., Charlotte, N.
C., $1,001.76 per $1,000.
37,000 Board of Education of the City of Northwood, N. Dak., 4%
high school bonds of 1934.
Charles A. Fuller Co., Minneapolis,
Minn., $1,017.50 per $1,000.
105,000 City of Coshocton, County of Coshocton, Ohio, 4% 1st mtge.
waterworks revenue bonds.
Stranahan, Harris & Co., Inc.,
Toledo, Ohio, $1,076.60 per $1,000.
11,000 City of Delaware, Delaware County, Ohio, 4% city hall bonds.
The First National Bank of Delaware, Ohio, Delaware, Ohio,
$1,052.50 per $1,000.
40,500 Board of Education of the Mingo Junction City School District,
Jefferson County, Ohio, 4% school improvement bonds. Saunders,
Stiver & Co., Cleveland, Ohio, $1,103.170503 per $1,000.
41,000 The City of Cushing, Payne County, Okla., 4% electric power
and transmission equipment bonds of 1934.
The Brown-Crummer
Co., Wichita, Kan., $1,040.65 per $1,000.
16,000 City of Nowata, Nowata County, Okla., 4% water works bonds
of 1934.
The Brown-Crupimer Co., Wichita, Kan., $1,038.60
per $1,000.
100,000 Hartsville Township, Darlington County, S. C., 4% community
center building bonds.
McAlister, Smith & Pate, Inc., Green¬
ville, S. C., $1,010.50.per $1,000.
•
240,000 State of South Carolina, 4% State Hospital for the Insane bonds.
Goldman, Sachs & Co., New York, N. Y., and associates,
$1,137.70 per $1,000.
41,000 City of Spearfish, Lawrence County, S. Dak., 4% waterworks
bonds.
Northwestern National Bank & Trust Co., Minneapolis,
458,000
f
.
Minn., $1,012.30 per $1,000.
$55,500
16,500
20,500
Drainage
Drainage
Drainage
Drainage
WORKS
PUBLIC
prices paid were:
$220,000 City of
Gadsden, Etowah County, Ala., 4% school bonds.
Marx & Co., Birmingham, Ala., $98830 per $1,000.
67,000 School District No. 1 of Pima County, Ariz., 4% school building
bonds of 1935.
The J. K. Mullen Investment Co., Denver,
Colo., and associates, $1,031.90 per $1,000.
22,000 Northern Yuma County Union High School District, Yuma
County, Ariz., 4% school building bonds of 1935.
Refsnes,
Ely, Beck & Co., Phoenix, Ariz., $995 per $1,000.
157,000 City of Hot Springs, Ark., 4% sewer bonds.
Walton, Sullivan
& Co., Little Rock, Ark., $1,005.20 per $1,000.
104,000 City of Chula Vista, Calif., 4% improvement bonds.
Miller,
Hall & Co., San Diego, Calif., $1,025.5959 per $1,000.
21,000 Village of Mountain Home, County of Elmore, Ida., 4% water
bonds, series of Nov. 1, 1934.
Sudler, Wegener & Co., Inc.,
Boise, Ida., $1,005 per $1,000.
18,000 City of Knoxville„ Knox County, I1L, 4% water revenue bonds.
The Farmers National Bank of Knoxville, Knoxville, 111., $1,015
Ark
Star City Special School Districs Lincoln County, Ark._
Loans authorized to the following districts have been
Thirty-seven issues of bonds purchased by the Reconstruction Finance
Corporation from Public Works Administration and offered by the Cor¬
average
are:
School District No. 46, Lawrence County, Ark_.
School District of Haynes, Haynes,
poration at public sale on Aug. 11, 1936, have been awarded to the highest
bidders.
The face amount of the bonds sold was $4,084,200 and the
an
districts
Hoxie Special
Aug. 11,
at the usual time:
sale
The
Act.
the
on
bonds offered
New Grants
ADMINISTRATION
Total Almost $22,000,000—We give herewith
text of the opening remarks given in a press release (No..
2026) just made public by the above named Federal agency:
Initial allotments approved by the President for 347 PWA projects
throughout the country, having a total estimated construction cost of
$49,003,670, have been announced by Public Works Administrator Ickes,
starting allotments on the third Public Works program.
PWA grants, to the extent of 45% of the cost of each project, total
$21,945,301, and secured loans which total $1,997,000 were included in
the list.
Communities receiving the allotments in each instance con¬
tributed from local funds 55% of the cost of the project.
'
projects included have met employment requirements from relief
shown by certificates from PWA field staffs, the applicants and
prior to July 21.
Other projects from a much
larger pending list of applications are being qualified with these same
All
'
lists
as
relief agencies received
requirements.
In
each instance
these initial allotments are subject to fulfillment by
of assurances that work on the project be com¬
reach a peak by the end of the year and be com¬
pleted by Oct. 1, 1937.
Schools, waterworks, sewers, public buildings, bridges, municipal power
plants, viaducts, hospitals, libraries, fire stations, laboratories, street
improvements, disposal plants, piers, and similar types of useful, recog¬
nized, local works comprise the list, as in previous PWA programs.
In
each case the community benefited selected the work with its own knowledge
of its need and backed its choice with an offer to provide more than half
the applying local body
menced by Oct. 1, 1936,
as a local contribution from local funds.
Regulations for proceeding with construction of these 347 projects
the finance required
those developed steadily by PWA in two previous programs
since 1933, with contract construction awarded in the regular
follow
undertaken
established
body making the application.
Plans have been proposed by
These bodies will let, superintend,
and administer the work according to
local practice, subject to the terms
method to the lowest competitive bidder.
the local
in their grant or loan agreements with PWA
the work to insure fulfillment of agreement,
manent
which will assist and inspect
and sound, economical, per¬
construction.
Funds for the 347 allotments result from the recent action of Congress
freeing accumulated assets of the Public Works Administration in the
PWA revolving fund to further the PWA part in the recovery program with¬
out additional appropriation of money.
Congress specified up to $300,000,000 of the PWA revolving fund, resulting from prior loans made by
PWA which are being recovered with interest and profit, should be used,
at the direction of the President, for allotment grants to assist local bodies
in carrying forward the same type of permanent improvement works
undertaken in earlier PWA programs.
News Items
Illinois—GWernor
Approves Emergency Relief Bills—Gov¬
Aug. 17 signed the seven relief bills passed by
the General Assembly, which increase the State's donation to
$3,000,000 from $2,000,000 a month, according to Spring¬
field press dispatches of that date.
It is said that the bills
carry emergency clauses and become effective at once.
Horner
ernor
on
Michigan—-Governor Orders Checkup on Finance Figures—
We quote in part as follows
to the Chicago "Tribune"
muddled reports on
from a special Lansing dispatch
of Aug. 13, dealing with the
the State's finances which were made
public recently:
Gov.
Frank
D.
Fitzgerald, exasperated by two widely varying official
State's finances, today demanded that
be reconciled and a true picture be given the tax¬
reports as to the conditions of the
the conflicting figures
payers.
The Governor today called into conference Theodore
State treasurer who yesterday issued a statement to
I. Fry, Democratic
the effect that the
has been asserted by Gov. Fitzgerald, live
fiscal year ending June 30.
He then sum¬
moned George Thompson, his budget director, and W. G. Stevenson,
head of the State accounting division.
"The public can't be bamboozled on this thing," said the Governor.
"It's too serious a matter when two State agencies are made monkeys of by
their own financial reports."
The Governor referred to Mr. Fry's report, now being prepared for publica¬
tion, which shows disbursements during the fiscal year exceeded receipts
by approximately $440,000 and the report of the State administrative
State
did
not, as frequently
within its income during the
board's accounting division,
by 5H million dollars.
Abolition
tional
which showed receipts topped disbursements
-
of Property Tax Sought—A proposed constitu¬
to abolish property taxes, the present
amendment
principal
source
of revenue for cities such as
Detroit, and
Volume
143
Financial
Chronicle
Bond
MUNICIPAL BONDS
Dealer
1267
Proposals and Negotiations
Markets
ALABAMA
DECATUR SCHOOL DISTRICT (P. O. Decatur), Ala.— WARRANT
WM. J. MERICKA & CO.
INCORPORATED
Union Trust Bids.
One Wall Street
135 S. La Salle St.
CLEVELAND
NEW YORK
SALE—The $16,500 issue of 4% semi-annual school warrants offered for
sale on Aug. 15—V.
143, p. 1117—was awarded to the Morgan CountyNational Bank of Decatur,
according to the Distiict Secretary.
August 15, 1936.
Due from Jan. 15, 1937 to 1941.
CHICAGO
ARKANSAS
for other local units of
government, was
ember ballot.
Henry H. Lammers, of
placed on the Nov¬
Jackson, president
of the Michigan
Property Tax Repeal Association, is said
to have filed petitions
containing 275,000 signatures, twice
the number required, with the
Secretary of State.
In ad¬
dition to abolishing ad valorem
taxes, the amendment would
permit the Legislature to set up a system for levying State
BONDS
Markets in all State, County & Town Issues
SCHERCK, RICHTER COMPANY
LANDRETH BUILDING, ST. LOUIS, MO.
and local income taxes.
The property taxes to be abolished under the
plan cur¬
rently amount to $113,000,000 a year, according to report.
The collection of an additional
$34,000,000 to $42,000,000
to meet existing debt
charges would- be permitted until the
debts are paid, it is said.
'
' :
The text of the proposal reads:
arkansas
State & Municipal Bonds
•
WALTON, SULLIVAN & CO.
No tax shall,
the State
or
city, village
or
tangible
from and after Dec. 31, 1937, be assessed or levied by
or for the benefit of any
county, township, school district,
other political subdivision of the State upon real property
by
or
or intangible personal property, except for the payment of
interest upon and principal of obligations heretofore incurred.
Nor shall any privilege, license or
occupational tax, other than those
now provided by law, be hereafter
assessed or levied upon the ownership
possession or use of real property or tangible or intangible personal property.
Income from real and personal
property may be taxed uniformly with
income from other sources.
The proceeds of all taxes upon incomes shall be distributed to the several
counties, townships, school districts, cities, villages and other political
subdivisions of the State, as may be provided
by law.
New
"Sound
Jersey—Special Legislative Session
Plan"—Governor
Harold
G.
on
Relief Awaits
Hoffman
announced
Aug. 18 that he would call a special session of the State
Legislature to provide additional financing for emergency
relief as soon as the legislative leaders could
agree on a
"sound common sense plan."
The Governor is reported to
have said that by a "sound plan" he did not
necessarily
mean the 2% sales tax which he succeeded in
pushing through
the 1935 Legislature, only to have it
repealed after a fourmonths' trial.
It was asserted by Governor Hoffman that
he has no "pet tax" for revenue to be submitted for action
when and if he calls a special session.
on
LITTLE ROCK, ARK.
ST. LOUIS, MO.
ARKANSAS
CONWAY,
of
$91,500
Ark.—BONDS
will
WILL
BE
REFUNDED—Bonds of
total
a
be refunded
by Street Improvement District No. 12 to
and it is believed the adjustment, combined
will make possible payment of principal and
Sullivan & Co., Little Rock, will act as the
The 5% interest rate on the original bonds
extend maturities five years,
with increased
collections,
interest
time.
on
Walton
district's
refunding agent.
will be unchanged.
Defaults include $8,500 payable in 1933,
$8,500 payable in 1934, $9,000
payable in 1935 and $9,500 payable in 1936. During the emergency period,
however, the district has paid interest.
Prior to 1933 it paid $38,500 of
principal on the original issue of $130,000.
CALIFORNIA MUNICIPALS
$5,000
Long
Beach
Park
5's 6-1-52 @
&
Playground
3.45%
ffftoothe.fffilleiie 8 Co.
634 SOUTH SPRING ST.
LOS ANGELES
TELETYPE
LA
MEMBER 10$ ANGELES STOCK EXCHANGE
New
York
City—Final Draft of New City Charter Pre¬
draft of the proposed new city charter,
differing in only a few points from the preliminary document
made public last April, was filed on Aug. 17 with Michael
J. Cruise, City Clerk, by the New York City Charter Re¬
sented— The final
California Municipals
vision
Commission.
A referendum on
the adoption or
rejection of the said charter will be held at the general elec¬
tion on Nov. 3.
We quote in part as follows from an article
on the subject which
appeared in the New York "Journal
of Commerce" of Aug. 18:
Provision is also made that
voters
shall decide
on
DONNELLAN
111 Sutter St.
& CO.
San Francisco, Calif.
Telephone Exbrook 7067
Teletype-S F 396
the
question of pro¬
portional representation as a separate issue.
That means that voters can
accept the charter as proposed and yet reject proportional representation
if they desire.
One other major
departure from the draft published last April and
approved at that time by most public figures, restored to the Comptroller
the right to sell city bonds.
The Charter Revision Commission haa removed the bond sale
duty from
Comptroller's function in order to give him more time to check all
the financial activities of the city, but
widespread criticism forced the
CALIFORNIA
CALIFORNIA, State of—WARRANTS CALLED—It' was announced
on Aug. 11 that a total of $6,700,000 in regis¬
by the State Comptroller
are called for payment on Aug. 20.
It is also reported that
total of $10,000,000 in State relief warrants were called and
tered warrants
on
Aug. 13
a
retired.
the
change, it was explained.
Organized labor had pressed vigorously for insertion of the collective
bargaining clause.
Other changes in the charter include restriction of
property owner
assessments to a maximum of i0%_ above the
original estimates and an
increase in the number of Councilmen, who will
supersede the Board of
Aldermen, from 29 to 32, to give Brooklyn, Queens and the Bronx each
another member.
Pay-as-You-Go Policy
If
are
informed
that
the
above
call
covers
all
warrants
issued
from
are numbered D-25561 to D-35640,
E-31921 to E-40760, and G-4601 to G-5960, payable at the State Treasurer's
office.
This is the ninth call and was originally estimated to be made on
or
before Sept.
10.
DINUBA HIGH SCHOOL DISTRICT, Calif.—BOND ELECTION—
August 28 has been set
as the date of an election at which the voters will
be asked to approve a bond issue of $85,000 for construction of a new high
school building.
KINGS
proportional representation is adopted, the number of Councilmen
two years will vary with the vote cast, each
borough having
member for every 75,000 votes or major fraction
thereof, with one
chosen each
one
We
Oct. 25, 1935, to Dec. 3, 1935, which
member guaranteed to Richmond.
COUNTY (P. O. Hanford), Calif.—BONDS SOLD— It is
E. F. Pickerill, County Clerk, that the county has purchased
2J^s, the $60,000 Reefe-Sunset Union School District bonds
approved by the voters on Jan. 14.
stated by
at
par
LOS
as
ANGELES
COUNTY
(P.
O.
Los
Angeles).
Calif.—BOND
OFFERING—L. E. Lampton, County Clerk, will receive bids until 2 p. m.
for the purchase of $30,000 bonds of Santa Monica City School
District.
Interest is not to exceed 5%.
Denom. $1,000.
Dated Jan. 1,
1936.
Payable serially on Jan. 1 from 1942 to 1951.
Certified check
for 3%, required.
Assessed valuation of taxable property in district for year 1935 is $47,604,860 and amount of bonds previously issued and now outstanding is
Sept.
_
I
non-self-supporting
_
provements will be paid from current income.
Instead of
increasing the tax-paid proportion by 5% each year, the final
charter draft increases it by 2% each year.
That is, in 1938 only 98%
of the cost of such improvements can be borrowed:
96% in 1939, and so
on until at the end of 50 years the entire cost of this
type of improvement
must come from current income.
earning
potentialities, may be paid for with sinking fund bonds, which are permitted
to this extent because of constitutional complications.
For other long-term
borrowings, serial bonds only are authorized.
Improvements on the eventual pay-as-you-go list are classified, and
the maximum maturity of the bonds issued to finance them is
limited
according to their nature.
Serial bonds for construction and original
equip¬
ment of intercepting sewers and sewage disposal plants, and
construction
of fireproof buildings may have a 35-year maturity period.
Those for
equipping fireproof buildings cannot be issued for longer than 30 years.
WANTED
MUNICIPAL BONDS
Francis, Bro.
ESTABLISHED
COUNTY
(P.
O.
Los
Angeles),
Calif.—BOND
for 3%, required.
Assessed valuation of property in district, $3,124,470;
bonded debt, $56,000; area, 3.73 square miles; estimated population, 2,420.
LOS ANGELES COUNTY FLOOD CONTROL DISTRICT (P. O. Los
Angeles), Caiif .—BONDS NOT SOLD—NEW OFFERING TO BE MADE—
The $5,594,000 5% flood control bonds offered on Aug. 18—V. 143, p.
1117—were not sold, the district rejecting all bids received.
In contrast to the usual reason for rejecting tenders that offers are too
low, the district rejected the bids because they were too high.
Rather than
accept the large premium offered for 5% bonds, the officials made it known
that they would issue a new call for tenders, with the bonds to
carry a lower
These bonds are part of a 1924
autnorization, and the
voters of the dis¬
trict at that time approved issuance of the securities
as 5 % obligations.
The
yesterday comprises the last of the $35,000,000 authorization,.
and the bonds were to mature serially from July 2,1937, to 1964.
A syndicate headed by Brown Harriman & Co.,
Inc., and Edward B.
Smith & Co. submitted the best tender of par value and a premium of
$988,222 for the securities.
Several other banking groups which include
both Eastern and Pacific Coast firms, likewise submitted closely competitive
series offered
& Co.
1877
Inoestment Securities
LOUIS
Estimated population, 34,730.
ANGELES
OFFERING—The County Clerk will receive bids until 2 p. m. Sept. 1 for
the purchase of $23,000 bonds of Los Nietos School District.
Interest is
not to exceed 5%.» Dated Sept. 1, 1936.
Due Sept. 1,1949.
Cert, check
interest rate.
Arkansas—Illinois—Missouri—Oklahoma
ST.
$£93,000.
LOS
Docks, water supply, rapid transit systems and other authorized
public
services, bridges and tunnels, and real estate, having long life and
OFFERINGS
1
tenders.
TULSA
It is stated by Mame B. Beatty, Chief Clerk of the Board of Supervisors
that the said bonds will be reoffered for sale
on
Aug. 26.
Financial
1268
MONTEREY COUNTY (P. O.
1936
22,
Aug.
Chronicle
Salinas), Calif.—BOND OFFERING—
C, P. Joy, County Clerk, will receive bids until 10 a. m. Aug. 20 for the
purchase at not less than par of $12,500 Santa Rita School District bonds,
which are to bear interest at no more than 5%.
Denom. 5 for $400, 5
BONDS
FLORIDA
5 for $600 and 5 for $1,000.
Dated Sept. 1, 1936. Prip. and
(M. & S. 1) payable at the County Treatury.
Due yearly
Sept. 1 as follows: $400, 1937 to 1941; $500, 1942 to 1946; $600, 1947 to
1951, and $1,000. 1952 to 1956.
Certified check for 10% of amount of
bonds bid for, payable to the Clerk, required.
for $500,
semi-ann. int.
on
PIERCE-BIESE CORPORATION
Calif.—BOND ELECTION—The City Council has
of an election to vote on a
NATIONAL CITY,
passed an ordinance fixing Sept. 17 as the date
proposed $20,000 bond issue for a new city hall.
SACRAMENTO MUNICIPAL UTILITY DISTRICT,
TRICT SUED BY UTILITY COMPANY—The Pacific Gas
JACKSONVILLE
has petitioned in Federal Court for an injunction to halt the sale of $12,Municipal Utility District. The com¬
plaint charges the company will be unfairly taxed to pay off the principal
and interest of the district's bonds.
The company stated in the petition
that of the total assessed valuation of property in the district it owes 6.75%,
and it estimated its share in paying off the principal and interest of the bonds
would be about $1,918,000.
Miami
Orlando
Tampa
Calif.^-DIS& Electric Co,
000,000 bonds by the Sacramento
Municioals
Florida
COUNTY (P. O. San Diego), Calif.—BOND SALE—The
School District bonds offered for sale on Aug. 17—
purchased by Miller, Hall & Co. of San Diego as 5s,
paying a premium of $17.80, equal to 100.178, a basis of about 4.97%.
Due $1,000 from July 27, 1938 to 1947, incl.
LEEDY. WHEELER & CO
SAN DIEGO
$10,000 issue of Pauma
V. 143, p. 1118—was
Orlando,
FSa.^^^HJacksonville, Fla.
Bell
Calif —BOND SALE—The $21,000 not to exceed
6% tennis court bonds which were offered on Aug. 10—V. 143, p. 1118—
have been sold to Donnellan & Co. of San Francisco.
Dated Aug. 15.
1936.
Due from Aug. 15, 1937 to 1957.
»■
.
SANTA BARBARA,
Orlando
System
Teletype
Jacksonville
lb
No.
96
FLORIDA
HOLLYWOOD,
Rocky Mountain Municipals
MEXICO
—
WYOMING
DENVER
Keystone 2395
—
Teletype: Dnvr 51
Colo.—BOND CALL—The following refund¬
ing water, series 61 bonds are being called for payment at the City Treas¬
urer's office, or at the Chemical Bank & Trust Co. in New York City, on
Sept. 1, on which date interest shall cease: Nos. 1 to 100, for $1,000 each;
Nos. A-l to A-100, for $500 each; Nos. B-l to B-150, for $100 each.
All
dated July 1, 1916.
COLORADO SPRINGS,
COUNTY
SCHOOL
DISTRICT NO. 22-36
(P.
O.
Cedar-
edge), Colo.—BONDS VOTED—It is stated that at an election held on
Aug. 8, the voters approved the issuance of the $50,000 in 4M % semi-ann.
refunding bonds that were sold to Sidlo, Simons, Day & Co. of Denver,
subject to the election.
Colo.—BONDS AUTHORIZED—The City
PUEBLO,
a
special
LAKELAND, Fla.—DISTRIBUTION TO BE MADE—Florida Munic¬
ipal Bondholders' Protective Committee announces a distribution to its
depositors of Lakeland bonds (excepting those bonds payable from pledged
utility revenues) on account of interest collected from the city, in an amount
equal to 40% of the face amount of coupons or interest claims on matured
bonds deposited with the committee and due within the fiscal year beginning
Sept. 1, 1935, and ending Aug. 31, 1936.
This distribution is being made
to all depositors of record as of Aug. 31,1936.
Checks representing the dis¬
tribution will be mailed to depositors as of such record date about 10 days
after the record date.
COLORADO
DELTA
that
would be sold to the
proposed issuance of $35,000 in revenue bonds, which
Public Works Administration, to extend sewers.
DONALD F. BROWN & COMPANY
Telephone:
said
is
3 in order to have the voters pass on the
referendum will be held on Nov.
ARIZONA—COLORADO—IDAHO—MONl ANA
NEW
ELECTION— It
Fla.—BOND
Commissioners
bonds.
recently authorized the issuance of $31,000 6% street improvement
The City of Lakeland has outstanding approximately $6,624,000 general
obligation bonds, of which the committee has $2,582,500, principal amount
deposited with it.
The city also has outstanding approximately $769,000
principal amount utility bonds to the payment of which the net earnings of
the city-owned light and water plants have been pledged.
The committee
has returned
to
its depositors all of these co-called "pledged" bonds,
excepting $73,000 face amount, which it still holds at the request of de¬
positors so as to act as a mere collection agent for them. The city has been
paying the principal and interest on such "pledged" issues upon presenta¬
tion at maturity.
.
Fla.—CERTIFICATE OF ISSUANCE AUTHO¬
have authorized the City Manager
proceed with the issuance of $113,000 in water improvement certificates.
loan of $95,000 is reported to have been approved by the Public Works
ST.
AUGUSTINE,
RIZED—The City Commission is said to
to
A
Administration.
SCHOOL DISTRICT NO.
1 (P. O. Pueblo), Colo.—
OFFERING—Sealed bids will be received until noon on Aug. 25
PUEBLO
BOND
by G. G. Robertson, District Secretary, for the purchase of an issue of
$140,000 refunding bonds.
Denom. $1,000.
Dated Nov. 1, 1936.
Due
on Nov. 1 as follows: $1,000, 1941 to 1945; $10,000, 1946 to 1952; $20,000.
1953 to 1955, and $5,000 in 1956.
These bonds are being issued to refund
like amount of bonds dated Nov. 1, 1926.
Due on Nov. 1, 1946, optional
a
1936.
Their issuance is subject to an election to be held on
Prin. and int. payable at the County Treasurer's office or at
the Bankers Trust Co. in New York.
The approving opinion of Myles P.
Tallmadge, of Denver, will be furnished.
A certified check for $10,000,
payable to the District Treasurer, must accompany the bid.
(This report supplements the offering notice given in these columns
recently—V. 143, p. 955.)
on
Nov.
GEORGIA
ATLANTA, Ga —BOND ISSUANCE CONTEMPLATED—Willis A.
Sutton, Superintendent of Schools, is said to have recommended to the
Board of Education the immediate issuance of $6,480,000 in school improve¬
ment bonds.
1,
Sept. 26.
WESTMINSTER, Colo.—BONDS TO BE PURCHASED—It is stated
.
by the Town Clerk that the PWA has approved a loan of $6,500, and a
of $5,318 for water system improvements.
He reports that the
Board of Trustees has accepted a proposal from Gray B. Gray, Inc., of
Denver, to purchase these bonds.
grant
WILEY, Colo .—BONDS SOLD—It is stated by E. M. Tanner, Town
Clerk, that the State Land Board has purchased $69,000 refunding bonds.
Dated Jan.
..
1, 1936.
ST.
FAIRFIELD, Conn.—NOTE SALE—An issue of $250,000 tax-antici¬
pation notes maturing June 15, 1937 has been sold to Newton, Abbe & Co.
NEW
a
required.
(This report supersedes the offering
p. 1118).
0.485% discount basis.
Conn .—NOTE SALE—The $125,000 coupon tax
anticipation notes offered on Aug. 21—V. 143, p. 1118—were awarded to
Lincoln R. Young & Co. of Hartford on a bid of 100.286 for 1
a basis
of about 1.15%.
The R. F. Griggs Co. of Waterbury and Goodwin Beach
& Co. of Hartford were second high, offering 100 269 for l}£s.
Dated
ST.
MARIES SCHOOL DISTRICT NO.
Due $25,000 yearly on July 1 from 1937 to 1941.
FLORIDA
(P. O. Fort Lauderdale), Fla.—COURT OR¬
DERS SPECIAL BOND PAYMENT FUND—Judge Holland of the U. S.
District Court is said to have ordered county officials to assess and collect
a special tax levy upon all taxable property, including homesteads, at full
value, to produce a special fund for the payment of a judgment on defaulted
bonds.
It is reported that the peremptory writ was issued on a mandamus
suit brought by members of the Broward County Bondholders' Association
of Chicago, against the County School Board.
O. Miami), Fla.—BOND REFUNDING PLAN
BEFORE COURT—It is stated by Charles M. Fisher, Superintendent■ of
the Board of Public Instruction, that the plan to refund $605,000 in out¬
standing 6% school bonds, noted in these columns early in June—V. 142,
p. 3895—is now before the State Supreme Court for validation.
The is¬
suance of the new bonds will be handled through R. E. Crummer & Co.,
Chicago, as fiscal agents for the county in the refunding.
DADE
COUNTY
MARION
(P.
COUNTY
SALE—The
two
SCHOOL
issues
of
DISTRICTS
SYi%
(P.
semi-annual
O.
Ocala),
Fla.—
bonds aggregating
$5,000, offered for sale on Aug. 18—
143, p. 798—were purchased at
r by"
>ar by local investors.
d £
The issues are dividend as follows:
*
'
2,000 Weirsville Special Tax School District bonds.
Due $1,000 on
Oct. 1, 1941 and 1942.
3,000 Fort McCory Special Tax School District No. 34 bonds.
Due
$1,000 on June 1 in 1938, 1940 and 1942.
No other bid was received for the above bonds.
year,
over
*
with
the
"State
a
$5,187,544.10 balance in the treasury,
same
an increase of $297,902.77
month last year.
W. V. Knott said expenditures were $3,199,554 and
Treasurer
receipts totaled $2,442,690.37.
"The Confederate pension fund with $1,220,790.84 had the largest balance
of the 148 funds handled by Mr. Knott.
General revenue was next with
$893,680.12, while the State road license fund showed $696,655.50.
"The Federal aid road fund had a $342,903.76 balance and $114,498.74
shown to the credit of the free school text book fund. The racing com¬
mission balance was $33,422.92."
was
25 in order to vote on the
143,
was
p.
955.
recently approved by
ILLINOIS
ARLINGTON
PARK
HEIGHTS
DISTRICT
(P.
O.
Arlington
Heights), 111.—BOND SALE DETAILS—It is now reported by the Presi¬
$23,000 5% semi-ann. park
bonds reported to have been sold, as noted here in July—V. 143, p. 627—
were purchased by Seipp,
Princell & Co. of Chicago, for a premium of
$800.00, equal to 103.47, a basis of about 4.67%.
Due on July 1, 1956;
optional as follows: $1,000, 1944 to 1946, and $3,000, 1947 to 1956.
dent of the Board of Commissioners that the
BERWYN, 111.—BONDS AUTHORIZED—It is stated by the City Clerk
that the City Council has approved the refunding of $250,000 in special
assessment bonds but that no bonds have been issued as yet for this purpose.
CHICAGO
PARK
DISTRICT (P.
O.
Chicago)
III.-^SEPT 1 BOND
INTEREST TO BE MET—The Chicago Park District recently announced
in interest to meet the Sept. 1 coupon on series
the deposit of $4,010,891
"A," "B," "C" and "D" refunding bonds.
The interest will be paid at
the First National Bank of Chicago.
Edward Heinz, Comptroller, made
the following statement in regard to
the coming payment; "This constitutes the payment of the first maturing
coupons on the refunding bonds recently issued through Halsey, Stuart
& Co., Inc., to replace all outstanding bonds of the 22 superseded park
districts, one of which had no bonds outstanding. Funds for this payment
have been made available through tax collections."
The Halsey, Stuart syndicate, comprising about 60 dealers and banks
throughout the country, dissolved on Aug. 6.
The original issue of the
Chicago Park District amounted to $32,121,955.
COOK
COUNTY
(P.
O.
LOANS ABANDONED—After
members it
was
Chicago),
III.—REFUNDING
Reconstruction Finance
The
RFC
in
declined to
OF
recent conference of Cook County
a
announced that
RFC
Board
further action will be taken at the
no
present to refund the $12,253,000 of county poor relief bonds
program
FLORIDA, State of—TREASURY BALANCE GAINS—An Associated
Press dispatch from Tallahassee on Aug. 11 had the following to say:
"The State of Florida finished July, the first month of the new fiscal
ELECTION—Walter
in these columns recently
OF
1, Idaho—BONDS SOLD—
An issue of $90,000 4% refunding bonds which
the voters has been sold to the State of Idaho.
BROWARD COUNTY
BOND
MARIES.
BRITAIN,
Aug. 1, 1936.
notice given here recently—V. 143,
Idaho—CONFIRMATION
Boberg, City
Clerk, confirms the report given
to the effect that an election will be held on Aug.
issuance of $65,000 in water supply bonds.—V.
.
CONNECTICUT
of Boston on
IDAHO
RIGBY, Ida.—BOND OFFERING—Sealed bids will be received until
Amos J. Clements, City Clerk, for the purchase of
a $25,000 issue of water works refunding bonds.
Interest rate is not to
exceed 4%,
payable semi-annually.
Denom.
$500. Due as follows:
$1,000, 1938 to 1946; $1,500, 1947 to 1954, and $2,000 in 1955 and 1956.
Prin. and int. payable at the City Treasurer's office, or at some bank or
trust company in New York City, to be designated by the city.
A certi¬
fied check for 5% of the amount bid, payable to the City Treasurer, is
$ p.m. on Aug. 31, by
held by the
Corporation.
turn in its
carried out earlier this
year
bonds
on
the $47,000,000 refunding
by the county. A bill now pending
poor relief bonds and shift the
Congress would cancel the $12,253,000
cost of the expenditure from
the county to the Federal Government.
DOWNERS GROVE SANITARY DISTRICT (P. O. Downers Grove),
111.—BONDS AUTHORIZED—The Board of Trustees is said to have passed
an
ordinance providing for the issuance
of $50,000 in 4M% funding, series
1936 bonds.
Denom. $1,000.
Dated Aug. 1, 1936.
Due $10,000 from
1, 1950 to 1954 incl.
Prin. and int. payable at the Northern Trust
Co. in Chicago.
Dec.
EAST BEND TOWNSHIP (P. O.
Dewey), 111.—BOND SALE—A
$29,000 issue of road bonds is reported to have been purchased recently by
Bonniwell, Neil & Camden of Chicago as 3s, paying a premium of $280,
equal to 100.96.
•
Volume 143
Financial
GENOA, 111.—BONDS
s
SOLD—A
reported to have been sold
$6,000 issue of water revenue bonds
4s at par.
as
LA
GRANGE, 111.—BONDS DEFEATED—It is stated that at an elec?£M?0ld on Aug. 11 the voters defeated a proposal calling for the issuance
of
$510,000 in
water works bonds.
OLNEY, 111.—BOND
us
SALE—City Clerk Charles N. Edmiston informs
that the city has contracted with N.
L.. Rogers & Co. of Peoria
sale of $175,000 sewer and water bonds.
for the
$7,000 school building bonds were sold to the White-Phillips Co. of DavenPort for a premium of
$245, equal to 103.50.
Due $1,000 from Dec. 1,
•
SCOTT COUNTY ROAD
DISTRICT NO. 4 (P. O. Wincheater),
III.—BOND SALE DETAILS—The County Clerk reports that the $30,000
road bonds sold as
3Ms, as noted in these columns recently—V. 143, p. 1119
—were
mature
purchased by Vieth, Duncan, Worly & Wood, of Davenport,
on Dec. 1 1937 to 1946.
VIENNA, 111.—BOND
SALE DETAILS—In
connection
with
and
the sale
bonds, report on which appeared in these col¬
143, p. 1119—it is stated by the City Clerk that the
bonds were purchased by the First National Bank and the Drovers State
Bank, both of Vienna, jointly, as 5s, at par, and mature from 1937 to 1946.
recently—V.
WESTFIELD, IU.-t;PRICE
Cosey,
PAID—It is
reported that the $3,000
now
semi-annual road bonds purchased by the First National Bank of
as noted here recently—V. 143, p. 1119—were sold at par.
Due
$1,000 from 1937 to 1939, inch
INDIANA
EATON, Ind.—BONDS SOLD—It is stated by the Town Clerk that
$17,000 4% semi-ann. water works revenue bonds were purchased by the
Indianapolis Bond & Share Corp. of Indianapolis. Dated May 26, 1936.
INDIANAPOLIS, Ind.—NOTE SALE—The two issues of temporary
loan notes, aggregating $625,000, which were offered on
Aug 18—V. 143,
p. 1119—were awarded to two different bidders.
The $500,000 loan payable from current revenues was taken by JacksonEwert, Inc., of Indianapolis, on a .75% interest basis,
$27. The Union Trust Co., the Fletcher Trust Co., the
Bank, the Indiana National Bank, the Indiana Trust
chants National Bank, all of
Indianapolis, combined to
high bid, a premium of $57 at a .875% interest basis.
The $125,000 loan for the
use
plus a premium of
American National
Co. and the Mer¬
submit the second
of the Board of Health went to the
same
group which bid second high on the $500,000 loan.
They took the smaller
premium of $23.
Jackson-Ewert,
Inc., were second high at a premium of $5 on a .75% interest basis.
All the notes run for 79 days.
loan
on
.75% interest basis, plus
a
a
KOKOMO, Ind.—MATURITY—The $70,000
time warrants which were
awarded on Aug. 12 to the Union Bank Ac Trust Co. of Kokomo on a 1%
interest basis, plus a $10 premium, will mature Nov. 12,1936.
MORGAN COUNTY (P. O. Martinsville), Ind.—BOND OFFERING
—Alonzo Knight, County Auditor, will receive bids until 10 a. m. Sept. 1,
for the purchase at not less than par of $20,000 county welfare bonds, which
to bear interest at no more than
are
$500.
5%, in a multiple of *4. %.
Denom.
Due $1,000 on June 30 and Dec. 31 in each of
Dated Sept. 1, 1936.
the years from 1937 to 1946, incl.
Certified check for 3% of amount of
bonds bid for, payable to the Board of Commissioners required.
Opinion
of
Matson, Ross, McCord & Clifford of Indianapolis, will be furnished by
the county.
■
NORTH VERNON, Ind.—BOND OFFERING—Erwin C. Amick, City
Clerk-Treasurer, will receive bids until 7 p. m. Sept. 11, for the purchase at
not less than
par
of $12,500 4^% sedimentation basin refunding bonds*
Denom. $500.
Dated Sept. 15, 1936.' Interest payable semi-annually.
Due Sept. 15, 1946.
Certified check for $100, required.
PIKE COUNTY (P. O. Petersburg),
Ind.—NOTE SALE—The $25,000
issue of tax anticipation notes offered for sale on Aug. 17—V. 143, p. 1119—
was
purchased jointly by the Citizens State Bank, and the First National
Bank, both of Petersburg, at 5%, plus a premium of $90.27, according to
the
County Auditor.
Due
Dec.
on
27,
1936.
VINCENNES, Ind .—WARRANT SALE—The $50,000 temporary loan
warrants
offered
Aug. 15—V. 143, p. 798—were awarded to JacksonEwert, Inc., of Indianapolis, at 1 M% interest, plus $25 premium.
Due
Dec. 26, 1936.
Other bidders were:
on
Name—
Interest
Fletcher Trust Co., Indianapolis
McHuren & Huncihnan, Indianapolis
Premium
2%
%
3%
2*4 %
$5.65
1
American National Bank, Vincennes
Indianapolis Bond & Share Corp., Indianapolis
will receive
bids until 7:30 p. m.
Sept. 1 for the purchase of $9,500 waterworks revenue
bonds.
GOWRIE, Iowa—BONDS SOLD—It is stated by the Town Clerk that
the $74,500 municipal
light plant bonds discussed in these columns recently
143, p. 1119—have been sold.
—V.
HUMBOLDT COUNTY (P. O. Dakota City), Iowa—BOND OFFER¬
connection with the offering scheduled for Sept. 4,
$400,000 primary road bonds, notice of which was given in these
columns recently—V.
143, p. 1119—it is stated by C. Goykendall, Adminis¬
tration Engineer, that the bids will be received until 3
p. m.
Denom.
$1,000.
Dated Sept. 1, 1936,Due as follows:
$12,000, 1938 to 1942;
$24,000, 1943; $64,000, 1944; $180,000, 1945; $36,000, 1946 and 1947;
optional on May 1, 1942, or on any interest paying date thereafter.
Other
details of sale are similar to those
given under the Buena Vista County
offering notice, reported above.
of the
HUMBOLDT COUNTY (P.O. Dakota City), la.—CERTIFICATE
SALE—The $23,000 secondary road anticipation certificates of indebted¬
maturing Dec. 31, 1937, which were offered on Aug. 18—V. 143, p.
1119—were awarded to the Carleton D. Beh Co. of Des Moines on a 1%
ness,
of the $12,500 water
system
umns
1269
FAIRFIELD, Iowa—BOND OFFERING—The City Council
ING DETAILS—In
PEARL COMMUNITY HIGH SCHOOL DISTRICT (P. O. Pearl),
111.—BOND SALE—It is stated by A. L. Miller, District Secretary, that
1937 to 1943.
Chronicle
5.56
5.00
21.00
interest basis.
LE ROY TOWNSHIP SCHOOL DISTRICT NO. 2
(P. O. Blairatown),
Iowa—BOND SALE—The $4,000 issue of school bonds offered for sale on
Aug. 19—V. 143, p. 956—was awarded to the Benton County State Bank
of Blairstown, according to the District Secretary.
POCAHONTAS
COUNTY
(P.
O.
Pocahontas),
Iowa—BOND
DETAILS—In connection with the offering scheduled for
Sept. 3, of the $400,000 primary road bonds, report on which was given in
these columns recently—V. 143, p. 1119—it is stated
by C. Coykendall,
Administration Engineer, that bids will be received until 3 p. m. Denom.
$1,000.
Dated Sept. 1, 1936.
Due as follows:
$12,000, 1938 to 1942;
$24,000,1943: $64,000, 1944; $180,000, 1945, and $36,000 in 1946 and 1947;
optional May 1, 1942, or on any interest paying date thereafter.
OFFERING
SHENANDOAH
The voters at
a
SCHOOL
recent
DISTRICT.
election approved
Iowa—BONDS
VOTED—
the issuance of $35,000 school
building and improvement bonds.
KANSAS
AUGUSTA, Kan.—BIDS REJECTED—All bids received for the $70,000
2% internal improvement bonds offered on Aug. 17—V. 143, p. 1120—
were rejected as too low.
The best bid, offering to take the issue at a dis¬
count of $47.40, was submitted by Lathrop-Hawk-Herrick Co. of Wichita.
Dated Aug. 1, 1936.
Due in from 2 to 10 years.
CONCORDIA, Kan.—BONDS VOTED—A proposal to issue $12,000
city park improvement bonds was approved by the voters at a recent
election.
GARDEN CITY, Kan.—BONDS VOTED—At
a recent
election
a
$10,000
bond issue for parks was approved by the voters.
GOODLAND SCHOOL DISTRICT (P. O. Goodland), Kan.—BOND
ELECTION—It is reported that an election will be held on Aug. 29 in
order to pass on the issuance of approximately $165,000 in school build¬
ing bonds.
JEFFERSON COUNTY
(P. O. Oskaloosa), Ka n—BOND OFFERING
—W. I. Ferrell, County Clerk, will receive bids until 10 a. m. Aug. 28 for
the purchase of $25,000 2^% road bonds.
Denom. $500. Dated Sept. 1,
1936. Interest payable Jan. 1 and July 1.
Due $2,500 yearly on Jan. 1
from 1938 to 1947, incl.
Cert, check for 2% of amount of bid, required.
KANSAS, State of—REPORT SHOWS BIG TREASURY BALANCE—
The
Kansas State Treasury closed its fiscal year June 30 with an unen¬
cash balance of $1,575,507 in its general revenue
fund, J. J.
Rhodes, State Treasurer, reported recently.
The balance a year ago was
$1,007,405.
Similarly, the cash balance, not excluding outstanding warrants in
the fee fund, including highway department funds, was $8,138,071 com¬
pared with $7,139,237 last year.
General revenue fund receipts for the last fiscal year were $8,262,722
and warrants drawn on the fund totaled $7,700,927.
For the previous year,
receipts were $8,267,306 and warrants drawn, $7,636,340.
Thus general
revenue expenditures for the last year were $64,586 lower than the
previous
cumbered
year.
Receipts from fee funds for the last year totaled $20,303,279 and warrants
redeemed, $19,366,241.
The previous year's receipts were $17,551,414
and warrants redeemed, $14,793,417, the report showed.
The State's unmatured bonded indebtedness, consisting only of soldiers
compensation bonds, was reduced from $20,250,000
000 this year
NESS
a year ago to
$19,250,-
.
CITY, Kan.—BONDS
AUTHORIZED—An ordinance has been
passed authorizing the city to issue $90,000 refunding bonds.
OTTAWA
SCHOOL
DISTRICT
(P. O. Ottawa), Kan.—BONDS
on Aug. 7—V. 143, p. 627—the voters are
approved the issuance of the $125,000 in school construction
VOTED—At the election held
Iowa
said to have
Municipals
bonds.
ROOKS COUNTY
(P. O. Stockton), Kan.—BOND SALE—The
$5,000 issue of 2*4<? public assistance bonds offered for sale on Aug. 19
143, p. 1120—was awarded to the Stockton National Bank, accord¬
ing to the County Clerk.
Dated July 15, 1936.
Due $1,000 from July
1, 1937 to 1941 incl.
Polk-Peterson Corporation
Des Moines
—V.
Building
DES MOINES
Waterloo
Ottumwa
Cedar Rapids
A.
&
Sioux
Davenport
Iowa City
T.
T.
City
Sioux Falls, S. D.
Teletype: DESM 31
IOWA
COUNTY (P. O. Fredonia), Kan.—BOND OFFERING—
McGinnis, County Clerk, will receive bids until Aug. 24 for the
purchase of $9,500 2M% coupon unemployment relief bonds.
Dated
Aug. 1, 1936.
Due in 10 equal annual instalments beginning Aug. 1, 1937.
Certified check for 2% of amount of bid, required.
WILSON
W. D.
Kan—BOND OFFERING—C. C. Ellis, City Clerk, will
Aug. 31 for the purchase of $159,000 coupon
bonds.
Denom. $1,000.
Dated Sept. 1, 1936.
Due approximately one-tenth each year for 10 years.
Cert, check for 2%
WICHITA,
BUENA VISTA COUNTY (P. O. ktorm
Lake), Iowa—BOND OFFER¬
DETAILS—In connection with the offering scheduled for
Sept. 3
of the $400,000 primary road ponds, notice of which was
given in these
columns recently—V. 143, p. 1119—it is stated by C. Coykendall, Admin¬
ING
receive bids until 7:30 p. m.
internal
improvement
of bid, required.
istration Engineer, that the bids will be received until 10 a.m. and the
bonds
fully described as follows: Denom. $1,000.
Dated Sept. 1, 1936
as
follows: $12,000, 1938 to 1942; $24,000,
1943; $64,000, 1944;
$180,000, 1945, and $36,000 in 1946 and 1947; optional May 1,
1942, or
any interest paying date thereafter.
Bidder, to name the interest rate,
payable May 1, at the County Treasurer's office.
Purchaser to furnish
blank bonds ready for signature.
The approving opinion of
KENTUCKY
are more
Due
Cutler of Chicago will be furnished by the county.
3% is required.
Chapman &
A certified check for
CALHOUN
QOUNTY (P. O. Rockwell City), Iowa—BOND OFFER¬
offering scheduled for Sept. 4 of
$400,000 issue of primary road bonds, notice of which was given in
these columns recently—V. 143, p. 1119—it is stated
by C. Coykendall
Administration Engineer, that bids will be received until 10 a. m.
on that
date.
Denom. $1,000.
Dated Sept. 1, 1936.
Due as follows: $12,000
1938 to 1942; $24,000, 1943; $64,000. 1944; $180,000, 1945, and
$36,000 in
1946 and 1947; optional May 1, 1942, or any interest
paying date there¬
after.
Other details of sale are as given under the Buena Vista
County
offering notice.
ING DETAILS—In connection with the
the
CHEROKEE COUNTY (P. O. Cherokee), Iowa—BOND
OFFERING
DETAILS—In connection with the offering scheduled for
Sept. 2 of the
$500,000 primary road bonds, notice of which was given in these columns
recently—V. 143, p. 1119—it is stated by C. Coykendall, Administration
Engineer, that bids will be received until 2 p. m. Denom. $1,000.
Dated
Sept. 1, 1936.
Due as follows: $15,000, 1938 to 1942; $30,000. 1943*
$80,000.1944; $225,000,1945, and $45,000,1946 and 1947; optional
May 1
1942, or any interest paying date thereafter.
Other details of sale are as
outlined under the Buena Vista
County, Iowa, offering report.
DYERSVILLE, Iowa-BOND ELECTION—A special election has
called for
Aug. 31 at which a proposal to issue
will be submitted to the voters.
SWEA
CITY
CONSOLIDATED
$15,000 swimming
SCHOOL
been
dooi bonds
DISTRICT,
Iowa—
BOND SALE—An issue of $25,000 bonds was sold
recently to Jackley &
Co. of Des Moinas and Veith, Duncan, Worley & Wood, of
Davenport.
HENDERSON,
Ky.—BOND
OFFERING—It is stated by Phil J.
Thorny, City Clerk, that sealed bids were received until noon on Aug. 21
(to be opened Aug. 24) for the purchase of a $95,000 issue of funding
bonds.
Denom.
$1,000.
Dated Nov. 1, 1936.
Due on Nov.
1
as
follows $8,000, 1946 to 1955, and $5,000 in 1956.
Prin. and int. (M. & N.)
payable at some bank or trust company to be designated by the city.
LOUISVILLE, Ky .—BOND OFFERING—John R. Lindsay, Director of
Finance, will receive bids until 10 a.m. Aug. 25 for the purchase of $8,606.43
4% street improvement bonds.
Denom. $500, $100 and $106.43.
Due on
Aug. 17 as follows: $900, 1937; $1,000, 1938; $900, 1939; $1,000, 1940;
$900, 1941; $1,000, 1942; $900, 1943; $1,000, 1944; and $1,006.43, 1945.
Cert, check for $500, payable to the Director of Finance, required.
LOUISIANA
ACADIA
PARISH
CONSOLIDATED
SCHOOL
DISTRICT
NO.
1
(P. O. Crowley), La.—BOND OFFERING—It is stated by A. T. Browne,
Secretary of the Parish School Board, that he will receive sealed bids until
10 a. m. on Oct. 5 for the purchase of a $384,500 issue of school bonds.
Interest rate is not to exceed 6%, payable M. & N.
Dated Nov. 1, 1936.
Due on Nov. 1 as follows: $5,000, 1939 and 1940; $5,500, 1941; $17,000,
1942; $18,000, 1943; $19,000, 1944; $20,000, 1945; $21,000, 1946; $22,000,
1947; $23,000, 1948; $24,000, 1949; $25,000, 1950; $26,000, 1951; $28,000,
1952; $29,000, 1953; $31,000, 1954; $32,000, 1955, and $34,000 In 1956.
Prin. and int. payable at the office of the Treasurer of the Parish School
Board or at the National City Bank in New York.
The approving opinion
of Chapman & Cutler of Chicago will be furnished.
A certified check for
$7,690, payable to H. H. Hawsey, President of the School Board, must
accompany the bid.
CALDWELL PARISH SCHOOL DISTRICT NO.
bia), La.—BONDS SOLD—We
offered for sale without
success
are
on
18
(P.
O. Colum¬
informed that the $25,000 school bonds
June 24—V.
142, p. 4378—have been
Financial
1270
purchased by
June 1, 1936.
Scharff & Jones, of New Orleans,
Due from June 1, 1937 to 1956.
as
5s at par.
Dated
Aug. 22, 1936
Chronicle
&
Manufacturers & Traders
J. Van Ingen & Co.,
Bros. & Co., Charles
Laurence M. Marks & Co., William R. Comptron &
Co., Darby & Co., E. H. Rollins & Sons, the
Trust Co. of Buffalo, Bacon, Stevenson & Co., B.
Shields & Co., Schlater, Noyes & Gardner, Morse
NEW ORLEANS, La.—CITY SALES LEVY PLANNED—Imposition
of a 1% sales tax, effective as of Oct. 1, when the new State levy goes into
effect, is provided for in an ordinance introduced in the Commission Council,
Co. and E. L
according to New Orleans press dispatches of Aug. 13.
The measure is
said to follow the original draft of the State's "luxury tax" except that
exemption is not provided for fresh fruits, produce and meats.
Canned
food retailing at 10 cents or less is exempted under the State act as finally
adopted but no similar provision is included in the municipal measure.
Funds to be dervied under this tax, one of a series of new revenue measures,
will be utilized to improve the status of the city's treasury and to finance
public improvement projects.
for $5,150,000 2Ks and $1,110,000 254s.
The other members of the syndicate were: Graham, Parsons &
Co., Paine, Webber & Co., Kean, Taylor & Co., Eldredge & Co., Hemp¬
hill, Noyes & Co., A. G. Becker & Co., Cassatt & Co., Burr & Co., Schaumberg, Rebhann & Lynch, the Equitable Securities Corp., Rutter & Co.,
Lawrence Stern & Co., Schoellkopf, Hutton & Pomeroy, Putnam & Co.,
the Wells-Dickey Co., Stern Bros. & Co., Wilmerding & Co., Harold E.
Wood & Co., Lobdell & Co., Campbell, Phelps & Co. and Wheelock &
i»
PARISH
TANGIPAHOA
(P. O.
Amite), La.—BOND ELECTION—
to vote on
It is reported that an election will be held on Sept. 22 in order
the issuance of $100,000 in Ponchatoula School District bonds.
VERMILION
PARISH (P. O. Abbeville), La.—BOND ELECTION
are informed that the election scheduled to be held on
POSTPONED—We
Aug. 18 to vote on the issuance of $300,000 in court house
V. 143, p. 468—was postponed for an indefinite period.
>
and jail bonds—
,
H. Newton
& Co.,
wber Stokes & Co., bid 100.004
^"Lehman Bros,
for $5,610,000 2Ks, $500,000
and associates bid 100.09
.Cummins.
•'
Mas a.—NOTE
BROCKTON.
$300,000 revenue anticipa¬
SALE—The
tion temporary loan notes offered on Aug. 18 were awarded to the
National Bank of Brockton on a 0.59% discount basis.
Notes are
Home
dated
Aug. 19, 1936 and are payable $200,000 on April 16, 1937 and $100,000 on
May 19, 1937.
The National Shawmut Bank of Boston bid 0.61% dis¬
count.
=\.'
'
■/-
.
■'
Mass.—NOTE SALE—A $13,000 issue of coupon
Aug. 14 and was awarded to the Merchants
National Bank of Boston, as lMs, at a price of 100.42, a basis of about
I.10%.
Due from Aug. 15, 1937 to 1941, incl. Dated Aug. 15, 1936.
EASTHAMPTON,
water loan notes was offered on
MAINE
PORTLAND, Me.—BOND ISSUANCE CONTEMPLATED—It is re¬
ported that an order providing for the issuance of $200,000 in public improve¬
ment bonds for 1936 was introduced in the City Council recently.
SOUTH PORTLAND SEWERAGE DISTRICT, Me,—BOND OFFER¬
A. Brinkerboff, District Treasurer, will receive bids until
(Eastern Standard Time) Aug. 25, for the purchase at not less than
ING—Harry
noon
par of $25,000 coupon sewerage and drainage system bonds.
Bidders are
to name rate of interest, in a multiple of H %.
Denom. $1,000.
Dated
Sept. 1, 1936.
Principal and semi-annual interest (March 1 and Sept. 1)
payable at the National Bank of Commerce of Portland.
Due $5,000
yearly on Sept. 1 from 1951 to 1955.
These bonds will be issued under the supervision of and certified as to
genuineness by National Bank of Commerce of Portland, Portland, and
their legality approved by Carroll S. Chaplin, Portland, whose opinion will
be furnished the purchaser.
All legal papers incident to this issue will be
filed with said bank where they may be inspected.
Bonds will be delivered
to the purchaser on or about Sept. 4, 1936, at National Bank of Commerce
of Portland, Portland.
HAVERHILL, Mass.—BOND SALE—The $25,000 macadam loan bonds
were awarded to Newton, Abbe & Co. of Boston on a
l^s, a basis of about 1.09%.
L. F. Carter & Co. of
Boston bid 100.392 for IKs.
Dated July 1, 1936.
Due $5,000 yearly on
July 1 from 1937 to 1941, inclusive.
offered on Aug. 21
bid of 100.446 for
Financial Statement Aug. 1, 1936
1936
(included in above)
Sinking funds other than water
Population (1935), 49,516.
Bonded
indebtedness
South
(not
(State of)—NOTE SALE— The $6,000,000 notes
and payable Aug. 3, 1937, which were offered on Aug.
Morgan & Co. of New York
Corp. bid 0.315% interest.
18—V. 143, p. 1120—were awarded to J. P.
on a 0.305% interest basis.
The First Boston
[j^"We~give belowVcomplete
list of tfce'ffidsreceived for the
MARYLAND
305%
.315%
Chase National Bank of New York and Whiting, Weeks
&
Knowles,
Boston.
Inc.,
.37%
-.39%
—-_.i—
Salomon Bros. & Hutzler, Boston
New York; Ladenburg,
Thalmann & Co., New York; G. M.-P. Murphy &
Co., New York; Washburn & Co., Inc., Boston, and
Battles & Co., Inc., Philadelphia
Bankers Trust Co., New York; First National Bank of
New York; Boston Safe Deposit & Trust Co., Boston;
Day Trust Co., Boston; Merchants National Bank,
Boston, and Second National Bank of Boston
;
Halsey,
Co.,
Stuart &
according to newspaper reports.
HARFORD
COUNTY
(P.
Bel
O.
Air),
Md.—NOTE OFFERING—
31, according to report, by the
Clerk of the Board of County Commissioners, fqr the purchase of two
issues of 3% semi-ann. notes aggregating $500,000, divided as follows:
$400,000 road construction extension, and $100,000 road construction
refunding notes.
Sealed bids
will be received until Aug.
MARYLAND, State of—BONDS TO BE ISSUED—It is reported by
Joseph O'C.
McCusker, State Deputy Comptroller, that the proposed
$1,500,000 of 2M% emergency bonds will be issued as of Oct. 15, 1936.
The necessary advertising arrangements have not as yet been made, it is
said.
—
1947 to 1965.
The following is a complete list of
Name—
*W. W. Lanahan & Co., Baltimore
Phelps, Fenn & Co., New York
the bids received:
Price Bid
101.099
100.10
102.423
102.76
102.36
Alex. Brown & Co., Baltimore-Second National Bank, Hagerstown.
Mercantile Trust Co., Baltimore
R. W. Pressprich Co., New York.
First Michigan Corp.,
*
Award.
'
Int. Rate
2K%
2K%
2lA%
2% %
* 2M %
2M %
3%
.
-w-101
106.40
Detroit---
"
-
M ASSACH USETTS
$5,000,000 City of Boston, Municipal Relief Loan, Act of 1936 bonds.
Payable $500,000 annually, Sept. 1,1937, to Sept. 1, 1946, incl.
250,000 Sewerage Loan bonds. Payable $13,000 annually Sept. 1, 1937,
to Sept. 1, 1946, incl., and $12,000 annually Sept. 1, 1947, to
Sept. 1,-1956, incl.
Group "B"—$460,000 Serial Bonds
'
$100,000 Quincy Market Building Foundation, Improvements, &c.,
bonds. Payable $7,000 annually Sept. 1, 1937, to $ept. 1, 1946,
incl., and $6,000 annually Sept. 1, 1947, to Sept. 1, 1951, incl.
150,000 Chelsea Street and Eastern Avenue Bridge bonds.
Payable
$8,000 annually Sept. 1,1937, to Sept. 1,1946, incl., and $7,000
annually Sept. 1, 1947, to Sept. 1, 1956, incl.
100,000 New Intermediate School, Phillips Brooks District, Dorchester,
bonds.
Payable $5,000 annually Sept. 1, 1937, to Sept. 1,
1956, incl.
100,000 South Boston High School Addition bonds.
Payable $5,000
annually Sept. 1, 1937, to Sept. 1, 1956, incl.
10,000 Special Class School, John Marshall District, Dorchester, bonds.
Payable $1,000 annually Sept. 1, 1937, to Sept. 1, 1946, incl.
Group "C"—$400,000 Serial Bonds
$100,000 Hospital Department, New Buildings and Alterations and
Equipment bonds. Payable $5,000 annually Sept. 1, 1937, to
Sept. 1, 1956, incl.
300,000 Schools, West Roxbury District bonds. Payable $15,000 annu¬
ally Sept. 1, 1937, to Sept. 1, 1956, incl.
Group "D"—$150,000 Sinking Fund Bonds
$150,000 Traffic Tunnel bonds, City of Boston, Act of 1929, Series C.
These bonds shall be due on Sept. 1, 1966, but may be called
by the city after 20 years from the date of this loan on any
date upon which interest is payable.
•
There
were
three
and will be
and Sept. 1
other syndicates formed to bid on the above
bonds.
composed of the Chase National Bank of New York, the First Boston Corp.,
Brown Harriman & Co., Salomon Bros. & Hutzler, Kidder, Peabody & Co.,
R. W. Pressprich & Co., Stone & Webster and Blodget, the Northern Trust
Co. of Chicago, R. L. Day & Co., Estabrook & Co., L. F. Rothschild &
Co., Roosevelt & Weigold, Kelley, Richardson & Co. and Newton, Abbe
& Co.
Another syndicate, composed of
.40%
67.00
(State of)—.FEDERAL GRANT FOR FLOOD RE¬
CONSTRUCTION GIVEN—Governor Curley announced on Aug. 12 that
the Federal Government had agreed t<j> provide $1,850,000 to match an
appropriation by the Massachusetts Legislture of $750,000 to be spent for
the construction and recohstructibn of 132 bridges in the flood-stricken
area.
Paul Edwards,
State WPA Administrator, was notified by Harry
L. Hopkins, Federal Relief Administrator, of the grant.
NEWTON, Mass.—BIDS RECEIVED—'The following is a complete list
of the bids received for the $150,000 street improvement and water bonds
which
were
awarded
on
Aug. 14 to Newton, Abbe & Co. of Boston:
Int. Rate
Newton Abbe & Co., Boston.
Edward B. Smith & Co., N. Y
Dick & Merle-Smith, Boston
First Boston Corp., Boston
R. L. Day & Co., Boston
SOMERVILLE,
100.127
101.027
100.779
100.589
100.56
100.52
100.512
100.33
100.322
100.08
1%%
%
1%%
1 %%
IH%
1%%
1%%
1%%
1% %
Whiting Weeks & Knowles, Inc., Boston
Lazard Freres & Co., Inc., N. Y"
Burr & Co., Inc., Boston
Estabrook & Co., Boston
E. H. Rollins & Sons, Inc., Boston
V
Price Bid
IK %
:
Mass .—TEMPORARY LOAN REQUESTED—Mayor
Knox is said to have
float
a
Joan of
an
requested the Board of Aldermen for authority to
additional $500,000 to the amount of $3,200,000 which has
been borrowed already.
city
to
pay
The loan would be made in order to enable the
off outstanding debts and to continue operations for the
remainder of the year.
TAUNTON,
Mass.—BOND
OFFERING—Lewis
A.
Hodges,
City
Treasurer, will receive bids until 11 a. m. (Daylight Saying Time) Aug. 25
$30,000 coupon or registered mu¬
nicipal relief loan bonds.
Bidders are to name rate of interest in a multiple
of
M%.
Denom. $1,000.
Dated July 1, 1936.
Prin. and semi-ann. int.
(Jan. 1 and July 1) payable in Boston or at the City Treasury in Taunton.
$3,000 yearly on July 1 from 1937 to 1946, inclusive.
These bonds will be valid general obligations of the City of Taunton,
and all taxable property in the city will be subject to the levy of unlimited
ad valorem taxes to pay both principal and interest.
These bonds will be
engraved under the supervision of and authenticated as to their genuine¬
ness by the First National Bank of Boston.
The legality of this issue will be
examined by Ropes, Gray, Boyden & Perkins, a copy of whose opinion will
accompany the bonds when delivered without charge to the purchaser.
The original opinion and complete transcript of proceedings covering all
details required in the proper issuance of these bonds will be filed with the
First National Bank of Boston, where they may be inspected.
Bonds will be
delivered to the purchaser on or about Sept. 4.
Due
Financial
Statement
Aug.
15,
1936
Assessed valuation for year 1935 (incl. motor vehicle excise)
Total bonded debt (not incl. present loan)
Water debt (incl. in total debt)
Municipal light debt (incl. in total debt)
Sinking funds (other than water)
Population, 38,000.
We
Buy for
$36,671,236
1,879,600
302,500
281,000
134,849
—
Our Own Account
MICHIGAN MUNICIPALS
Cray, McFawn & Company
DETROIT
Telephone CHerry 6828
A. T. T. Tel. DET347
MICHIGAN
ESCANABA, Mich.—BONDS OFFERED TO PUBLIC—Barcus, Kindred
A bid of 100.051 for all the bonds at 2 K % interest was submitted by a group
Halsey, Stuart & Co., the BancamericaW. Seligman & Co., Geo. B. Gibbons
Blair Corp., Phelps, Fenn & Co., J. &
90.00
for the purchase at not less than par of
BOSTON, Mass.—BOND SALE—The $6,260,000 coupon serial and
sinking fund bonds described below, which were offered on Aug. 20—
V.. 143, p. 1120—were awarded to a syndicate headed by the Bankers
Trust Co. of New York, and including the National City Bank of New
York, E. B. Smith & Co., Blyth & Co., Lazard Freres & Co., all of New
York, the First Michigan Corp. of Detroit, Washburn & Co. of Boston and
the Illinois Co. of Chicago, on a bid,of 100.169 for 2Ks, a basis of about
2.48%:
Group "A"—$5,250,000 Serial Bonds
All bonds will be issued in the denomination of $1,000 each,
dated Sept. 1, 1936.
Int. will be payable semi-arm. on March 1
at the City Treasurer s office.
.40%
MASSACHUSETTS
Name—
WASHINGTONCOUNTY(P.O. Hagerstown),Md.—BONDSALE—The
$135,000 school bonds offered on Aug. 18—V. 143, p. 628—were awarded
to W. W. Lanahan & Co. of Baltimore as 2Ks, at a premium of $1,483.65,
equal to 101.099, a basis of about 2.40%.
Phelps, Fenn & Co. of New
York were second high, offering a premium of $135 for 2Ks. Dated July 1,
1936. Due July 1 as follows: $5,000 from 1940 to 1946, and $10,000 from
$38.00
99.00
Inc.,
-
BALTIMORE, Md.—UNPAID TAX PENALTIES GO INTO EFFECT
—A scale of penalties and interest, starting at IK % and reaching 8K % by
the end of December, went into effect on Aug. 1, for unpaid current taxes,
$6,0007000"notes:
Int. Rate Premium
J. P. Morgan & Co., New York
The First Boston Corp., Boston
576,000
^
Population of South Portland Sewerage District, 14,000-
No water bonds.
(
Name—
$12,127,140
505,000
including this issue)
Bonded indebtedness City of South Portland--
22,000.00
—
MASSACHUSETTS
dated Aug. 31, 1936
.
Portland for 1936
Portland Sewerage District
Assessed valuation of City of South
1,568,103.15
127,000.00
Water debt
.
Financial Statement, Aug. 15,
$53,237,605.34
Net valuation for year 1936
Total bonded debt, including this issue
& Co. of Chicago are offering to investors the $45,000 street paving bonds
recently purchased by them.
The bonds, bearing 4% interest, are offered
at prices to yield from 1.25% to 2.40%.
Denom. $1,000.
Dated July 1,
1936.
Prin. and semi-ann. int. (Jan. 1 and July 1) payable at the City
Treasurer's office.
Due $9,000 yearly on July 1 from 1937 to 1941, incl.
Bonds are a direct obligation of the city, and are payable from unlimited
general taxes.
Legality is approved by Miller, Canfield, Paddock & Stone
of Detroit.
•
FARMINGTON, Mich.—BOND CALL—Notice is being given by Harry
Moore, City Clerk, that the city is calling for payment at par and interest
Volume
Financial
143
Oct. 15 all refunding bonds of the issues dated Oct. 15, 1934, and
ing on Oct. 15, 1954, being listed as follows:
on
matur¬
$22,500 4M % water bonds, numbered 2 to 24, inclusive.
8,000 4%% water bonds, numbered 3 to 10, inclusive.
46,000 4M% sewer bonds, numbered 3 to 48, inclusive.
Bonds should be presented for payment at the Farmington State Bank in
Farmington, before Oct. 15, 1936, on which date all interest shall cease. et
$3,000, dated Feb. 1, 1937; $3,000, dated March 1, 1937; $3,000, dated
April 1, 1937; $3,000, dated May 1, 1937; $3,000, dated June 1, 1937;
$3,000, dated July 1, 1937.
To be payable on or before Aug. 1, 1937.
These warrants are to be drawn against the Old Age Assistance Fund and
shall be sold at par.
MISSISSIPPI
HAMTRAMCK, Mich.—BOND SALE— It is stated-"by- Peter E.
Szymczak, City Comptroller, that Stranahan, Harris & Co., Inc. of
Toledo, purchased on Aug. 6, an issue of $1,527,850 4% coupon refunding
bonds.
Dated Aug. 1, 1936.
Due on Sept. 1, as follows: $67,500, 1937;
$67,000, 1938; $67,350, 1939; $67,000,1940 to 1943; $52,000, 1944and 1945.
and $53,000, 1946 to 1963.
Prin. and int. (M. & S.) payable at the Bank
Scharff L Jones
INCORPORATED
by
redemption
Sept. 1, the following refunding bonds; all of which bear the date of
Mich.—BOND
given
is
REDEMPTION— Notice
A. T. T. TEL. N. O. 180
Peter E. Szymczak, City Comptroller, that the city is calling for
on
Sept. 1, 1933:
Series
Bond No.
Interest
1 to
59 to
6%
6%
5%%
5%
4%%
6%
6%
6%
6%
5%
6%
5M%
C
$50,900
30,000
131,000
220
147.000
89
221
to
D
to
373
E
183,450
275,000
130,500
139,000
88,000
250,000
70,000
33,000
374
564
839
970
1109
1197
1447
1517
to
563
838
B
F
G
H
I
J
K
L
'•
The holders of said bonds
.
to
to
to
to
to
to
to
are
58
88
,
969
1108
1196
1446
1516
1549
Date of
■
.
Maturity
1, 1963
1, 1963
1, 1963
1, 1963
1, 1963
1, 1963
1, 1963
1, 1963
1, 1963
1, 1963
1, 1943
1, 1943
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
'
,
hereby notified that the same should be
presented for payment, on Sept. 1, 1936, at the places specified on
of the said bonds.
All
shall
bonds not
cease to
presented for payment
so
on
the face
MISSISSIPPI
BROOKHAVEN,
Miss.—BOND
$107,000
from 3.65% to 4.00%, according to maturity.
Denom. $1,000.
Coupon
bonds, dated Sept. 1, 1936.
Due on Sept. 1 as follows: $6,000, 1941;
$7,000, 1942; $8,000, 1943; $9,000, 1944; $10,000, 1945 and 1946; $11,000,
1947 and 1948; $12,000, 1949 and 1950, and $11,000 in 1951.
Prin. and
int. (M. & S.) payable at the Chase National Bank in New York City.
Legality to be approved by Charles & Trauernicht, of St. Louis.
dated
Aug. 20
they and
Miss.—BOND OPTION EXERCISED—In a letter
informed by Scharff & Jones, Inc. of New Orleans,
we were
associates have exercised their option on $205,000
4M% refunding bonds, maturing on Sept. 1 as follows: $2,000,
1951; $13,000, 1952; $14,000, 1953 and 1954; $15,000, 1955 and 1956:
$16,000, 1957; $17,000, 1958; $18,000, 1959; $19,000, 1960; $20,000, 1961;
$21,000 in 1962 and 1963.
He states it is expected that the bonds will be
offered to the public on Aug. 24.
that
bear interest from and after said date.
DETAILS—The
SALE
4 M % refunding bonds that were sold recently to a syndicate headed by
Edward Jones & Co., Inc., of New Orleans, as reported in these columns—
V. 143, p. 800—are being offered for public subscription at prices to yield
BROOKHAVEN,
the above mentioned date
TELEPHONE RAYMOND 1189
New Orleans
,
Amount
A
MUNICIPALS
Bough t—Sold—Quoted
of Hamtramck.
HAMTRAMCK,
1271
Chronicle
their
additional
IONIA SCHOOL DISTRICT (P. O. Ionia), Mich.—BONDS VOTED—
At an election held on Aug. 10 the voters are said to have approved the
issuance of $50,000 in high school bonds to be used in cbncnction with a
Public Works Administration project costing about $68,001.
MANISTIQUE,
Mich.—BONDS VOTED—It
is
stated
by
the
City
Clerk that at an election held on Aug. 11, the voters approved the issuance
of $53,000 in street improvement bonds by a wide margin.
The bonds will
be offered for sale after a Public Works Administration grant is approved,
according to report.
MICHIGAN,
State
of—MUNICIPAL
FINANCES
SHOW IM¬
PROVEMENT—During the past two years there has been a marked im¬
provement in the financial condition of many Michigan municipalities,
according to I. D. Brent, State Public Works Administration director.
As a result, there has been an increased demand for
theirs/securities in the
bond market, he says.
"Many bonds issued in connection with PWA projects have been sold
privately, and, in several cases, at less than a 4% basis—the uniform
price paid by PWA for all bonds purchased by the Government.
"Municipalities that were forced to default on their obligations, due to
poor tax collections, moratoriums, &c., are showing a rapid improvement
which is a result of increased collections of current and delinquent taxes."
GULFPORT
OFFERED FOR
SEPARATE
SCHOOL
DISTRICT,
INVESTMENT—Scharff &
Jones
Miss.—BONDS
of New
Orleans,
pur¬
chasers of an issue of $148,000 4% school bonds offered by the Reconstruc¬
tion Finance Corp., are now offering the securities for public subscription
at prices to yield from 2% to 3.75%, according to maturity.
Denom.
Dated Dec. 1, 1935.
$1,000.
Principal and semi-annual interest (June 1
and Dec. 1) payable at the Central Hanover Bank & Trust Co. of New
York.
Due Dec. 1 as follows: $4,000 1937 to 1940; $7,000 1941 to 1948;
$8,000 1949 and 1950; and $6,000 1951 to 1960.
Legal opinion by Charles &
Trauernicht of St. Louis.
YAZOO COUNTY
(P. O. Yazoo City), Miss.—BOND OFFERING—
Supervisors, will receive bids
Sept. 7 for the purchase of $25,000 4% general obligation jail
bonds.
Denom. $1,000.
Dated Sept. 1, 1936.
Prin. and semi-ann. int.
payable at the county depository in Yazoo City.
Due $8,000, Sept. 1,
1937; $9,000, Sept. 1, 1938, and $8,000, Sept. 1, 1939.
Certified check
for $500, payable to the clerk, required.
F. J. Love, Clerk of the Board of County
until
noon
PONTIAC, Mich.—SEPT. 1 INTEREST PAYMENT TO BE MET—
Several inquiries have been received by E. H. Tinsman, Director of Finance,
to whether funds will be on hand at the City Treasurer's office to pay
MISSOURI
as
interest
on
outstanding bonds Sept. 1.
He explains that the bonds specify
and bondholders should
The money is already on hand, he says, and will be
the National Bank of Detroit as the paying agent,
redeem coupons there.
turned over to the National Bank of Detroit before the date of payment.
SOUTH
HAVEN,
Mich.—INTEREST RATE—The
$25,000
special
paving bonds which were awarded on Aug. 10 to Crouse & Co.
premium of $645, a price equivalent to 102.58, bear interest
3%, making the net interest cost about 2.50%.
Other bidders were:
assessment
BETHANY, Mo.—BONDS VOTED—The
$20,000 bond issue to build a reservoir
swimming pool.
First State Bank, South Haven
Stranahan, Harris & Co
Citizens State Bank, South Haven
First of Michigan Corp_
Braun, Bosworth & Co
WAYNE
COUNTY
$25,250.00
25,166.00
25,105.00
25,028.26
25,018.00
....
•_
O.
Detroit), Mich.—BONDS OFFERED TO
a new issue of $1,126,000 Wayne County, Mich.,
2% highway refunding bonds is being made by a banking group headed
by Stranahan, Harris & Co., Inc., of New York, and including Cray,
McFawn & Co., Detroit; McDonald, Moore & Hayes, Inc., Detroit, and
Martin, Smith & Co., Inc., Detroit.
The bonds are dated May 1, 1936,
and mature from May 1, 1938 to 1940 incl.
They are priced to yield from
0.60% to 1.25%.
The bonds are general obligations of Wayne County,
of which Detroit is the county seat, and are payable from general taxes.
In addition, they are payable from a proportion of the county's share of
the State weight and gasoline taxes which at present are adequate to service
the debt without the need for levying general taxes.
(P.
PUBLIC—Offering of
have
approved
a
,
JEFFERSON COUNTY (P. O. Hillsboro), Mo.—BONDS DEFEATED
of Detroit, at a
at
citizens
.
Mo.—BOND ELECTION—An election will be held on
Aug. 31 to vote on a $30,000 bond issue for a new dam and a municipal
CAMERON,,
—A
proposition to bond the county in the amount of $145,000 for the
purpose of constructing a new court house and jail, with the Public Works
Administration matching the amount with a grant of $91,000, was rejected
at
a
recent election.
MISSOURI,
State
of—BOND SALE—The $5,000,000 issue of road,
coupon or registered bonds offered for sale on Aug. 17—V. 143,
1121—was awarded to a syndicate composed of the Harris Trust &
Savings Bank, and the First National Bank, both of Chicago, the First
Boston Corp., the Northern Trust Co. of Chicago, the Boatmen's National
Bank, of St. Louis, A. G. Becker & Co. of Chicago, Eldredge & Co. and
Rutter & Co., both of New York, as 2Mb, paying a price of 102.579, a
basis of about 2.34%.
Dated Sept. 1, 1936.
Due on June 15 as follows:
$1,500,000 in 1955 and 1956, and $2,000,000 in 1957.
series X
p.
BONDS OFFERED TO PUBLIC—The purchasers reoffered the securities
to investors at prices to
on
the
1957 maturity.
yield 2M% on 1955 and 1956 maturities and 2.30%
The bonds, in the opinion of counsel, have been
lawfully authorized under the constitution and laws of Missouri, and offer¬
ing is made subject to the opinion of counsel that they will be direct obliga¬
tions of the State, for the payment of which unlimited ad valorem taxes
be levied against all taxable property in the State.
The bankers state
indicates that the bonds are legal invest¬
for savings banks and trust funds in New York, Massachusetts,
Connecticut and other States.
may
that latest available information
Northwestern Municipals
Minnesota, North and
ments
South Dakota, Montana,
(State of)—REVIEW OF RULE AGAINST REFUNDING
13 refused to/reconsider its
bonded' indebtedness
except under specific provision or by mutual agreement.
Attorney General
Roy McKittrick was overruled on his motion for a rehearing of an appli¬
cation for a writ of mandamus to compel Forrest Smith, State Auditor, to
register refunding bonds for several outstanding securities.
Mr. McKittrick, instituting the action for the State Board of Fund Com¬
missioners—composed of the Governor, Treasurer, Auditor and himself—
after the House of Representatives in its 1935 session asked the bonds be
refunded "when advantageous to the State."
MISSOURI
DENIED—The State Supreme Court on Aug.
Oregon, Washington
recent
WELLS-DICKEY COMPANY
Telephone—Minneapolis Atlantic 4201
Teletype—Mpls287
MINNESOTA
decision that Missouri could not refund its
DULUTH,
Minn.—BOND
ISSUANCE
CONTEMPLATED—It
is
reported that legislation has been drafted authorizing the issuance and
sale
$640,524 in sewerage disposal plant bonds and it is
of
that action will be taken immediately by the
of funds from
MOWER
(P.
O.
City Council,
understood
upon
receipt
the Public Works Administration.
COUNTY
Austin),
INDEPENDENT
SCHOOL
DISTRICT
Minn.—BOND SALE—The $150,000 issue of
NO.
27
coupon
bonds offered for sale on Aug. 14—V. 143, p. 958—was
awarded to Bigelow, Webb & Co., Inc., of Minneapolis, as 2Mb, paying
school building
a premium of $451.00, equal to 100.3006, a basis of about 2.215%.
Dated
Aug. 1, 1936.
Due from May 1, 1939 to 1956 incl.
The second highest
bid was an offer of $450 premium, submitted by the First National Bank
of
St.
Paul.
NEW
A
ULM
MONTANA
BUTTE, Mont.—CITY OFFERS BONDS TO STATE—The city is
negotiating with the State of Montana for the sale of $900,000 refunding
bonds for which the city failed to locate a purchaser recently.
BUTTE, Mont.—BOND CALL—It is reported that 6% funding bonds,
dated July 1, 1921, and optional on July 1,
1, on which date interest
numbered 1 to 117, of an issue
1936, are being called for payment as of Sept.
shall cease, at the office of the City Treasurer.
COUNTY (P. O. Libby), Mont.—BOND OFFERING—
Clerk of the Board of County Commissioners, will re¬
Sept. 9 for the purchase at not less than par of $25,500
warrant funding bonds.
Amortization bonds will be the first choice and
serial bonds wid be the second choice of the Board.
If amortization bonds
are issued, the entire issue may be put into one single bond or divided into
several bonds, as the Board may determine upon at the time of sale, both
principal and interest to be payable in semi-annual instalments during a
period of 10 years from the date of issue.
If serial bonds are sold, they will
be in the amount of $2,550 each, or such other denominations as the Board
may determine at the time of sale; the sum of $2,550 will become payable on
July 1, 1937, and a like amount on the same day of each year thereafter
until all of such bonds are paid.
The bonds, whether amortization or serial, bonds, will bear date of July 1,
1936 and will bear interest at a rate not exceeding 6%, payable semi¬
annually on July 1 and Jan. 1, and will be redeemable in full on and after
July 1, 1941.
LINCOLN
Samuel Carpenter,
ceive bids until 2 p. m.
SCHOOL
DISTRICT,
Minn.—BONDS
DEFEATED—
$100,000 bond issue for a high school building was defeated at
election.
.
1
a recent
,
ROBBINSDALE,
Minn.—BONDS
EXCHANGED—In
connection
with the $29,000 refunding bonds that were offered for sale without success,
as reported in these columns, it is stated by the City Recorder that $23,000
bonds have been exchanged up to the present time with the original holders.
SPRING VALLEY. Minn.—BOND OFFERING—Alfred Lundby, Village
bids until 8 p. m. Aug. 31 for the purchase of $25,000
disposal bonds which are to bear interest at no more than 4M%.
$1,000.
Dated Sept. 1, 1936.
Prin. and int. payable at any
suitable bank or trust company designated by the purchaser.
Due Sept. 1
as follows: $1,000,
1939 to 1949, and $2,000, 1950 to 1956.
Cert, check
for $500, payable to the village, required.
The village will furnish the
executed bonds and the legal opinion of Junell, Driscoll, Fletcher, Dorsey
& Barker of Minneapolis.
Clerk, will receive
sewage
Denom.
COUNTY (P. O. Benson), Minn.— WARRANT OFFERING
reported by Leo E. Engleson, County Auditor, that bids will be
on Sept. 8, for the purchase of a total of $30,000
warrants, divided as follows:
$3,000, dated Oct. 1, 1936; $3,000, dated
Nov. 1, 1936; $3,000, dated Dec. 1, 1936; $3,000,
dated Jan. 1, 1937;
All bids other than
in the sum of $500,
payable to the order of the Clerk.
NEBRASKA
SWIFT
—It is
received until 1 p. m.
by or on behalf of the State Board of Land Commis¬
Montana must be accompanied by a certified check
sioners of the State of
BENKELMAN,
Neb.—BOND SALE— The Kirkpatrick-Pettis-Loomis
Co. of Omaha, is said to have purchased a $26,000 issue of 3M% semi¬
annual refunding bonds.
1272
Financial
Chronicle
1936
Aug. 22,
the history of the city, the previous high sevenmionth
figure being $2,247,418.34 in 1930.
Collections for the seven months of 1936 represent 42.17% of the total
tax levy of the year as compared with 35.30% of the 1935 levy collected
in the first seven months of that year, and 63.25% of the 1935 levy collected
during the entire year.
Payments in 1936 have been stimulated by de¬
linquent tax sales, application of the Stout Receivership Act, which permits
collection of rents to be applied to taxes, and strict enforcement of interest
charges and penalties, George E. Brunner, Commissioner of Revenue and
Finance, stated.
In addition there is pronounced evidence of improve¬
ment in taxpayers' ability to pay, he said.
During the seven-month
period delinquent taxes were reduced $988,615.28, leaving $3,620,529.68
delinquencies outstanding, exclusive of tax title liens.
Receipts from miscellaneous sources for the seven months ended July 31
amounted to $530,330.75, or substantially double the $266,679.78 received
from similar sources in the corresponding period of last year.
Total
receipts by the city for the seven months were $4,393,539.01, as against
$3,689,999.45 in the first seven months of 1935, an increase of $703,539.56.
Expenditures during the seven months amounted to $4,386,384.64, all
departments being well within the appropriation for that period, Com¬
for this period in
MUNICIPALS
NEBRASKA
OFFERING
WANTED
OMAHA, DOUGLAS COUNTY, LINCOLN
AND
OTHER
NEBRASKA
ISSUES
The national company
OF
First National Bank
OMAHA
Bldg-
A. T. & T. Teletype OMA 81
NEBRASKA
GREENWOOD SCHOOL DISTRICT NO. 36 (P. O. Greenwood),
Neb.—BOND SALE—It is stated by E. H. Armstrong, District Treasurer,
that!$7,.500 2% semi-annual school bonds have been purchased by Steinauer
& Schweser of Lincoln, paying a premium of $125, equal to 101.66, a basis
of about 1.43%.
Due $1,500 from 1937 to 1941, incl.
_
_
KEARNEY, Neb.—BONDS SOLD—An issue of $35,000 water system
bonds recently approved by the voters has been sold to the Kearney Ceme¬
tery Board.
NORFOLK SCHOOL DISTRICT, Neb.—BONDS
be
Norfolk), Neb.—BOND
up
For $95,000 Bonds
Int. Rale
Price Bid
$95,369.55
& Co., Inc
95,313.50
Kean, Taylor & Co. and Van Deventer, Spear & Co.,
Inc....
95,249.38
Salomon Bros. & Hutzler
95,190.00
First of Michigan Corp
95,160.55
J. B. Hanauer & Co
95,152.00
A. G. Becker & Co., Inc
95,126.00
C. A. Preim & Co
95,028.28
C. P. Dunning & Co
;
95,023.75
Blyth & Co., Inc.--.- —
95,911.05
E. H. Rollins & Sons, Inc., and MacBride, Miller & Co. 95,541.50
H. L. Allen & Co
95,271.70
M. M. Freeman & Co., Inc
95,222.22
Dougherty, Corkran & Co. and C. C. Codings & Co.,
Inc.---95,541.50
Wilmerding & Co.—
95,801.80
Edward Lowber Stokes & Co
95,530.50
Morse Bros. & Co., Inc
95,304.50
Edward B. Smith & Co__.
95,560.40
Palisades Trust & Guaranty Co
•_
95,000.00
Name—
..
NORFOLK SCHOOL DISTRICT (P. O.
i
SOLEhr-The District
bonds at a premium
recently disposed of an issue of $50,000 1H% refunding
of $75.
; /■ :1
"
•—The following 4% bonds are said to
which date interest shall cease:
missioner Brunner stated.
ENGLEWOOD, N. J —BOND SALE—The issue of $95,000 coupon or
registered incinerator bonds offered on Aug. 18—V. 143, p. 959—was
awarded to John B. Carroll & Co. of New York at 2% interest, bidding
$95,496.51 for $95,000 bonds, a price equivalent to 100.522, a basis of
about 1.90%.
Dated Sept. 1, 1936.
Due Sept. 1 as follows: $10,000
from 1937 to 1945, and $5,000 in 1946.
Other bidders were:
for payment
on
2%
2%
Mackey, Dunn & Co., Inc
CALL
Sept. 1,
on
B. J. Van Ingen
2%
2%
2%
2%
2%
2H%
2)4%
-
$50,000 refunding bonds, numbered 1 to 50.
Payable at the office of the
Greenway-Raynor Co. of Omaha.
62,000 refunding bonds, numbered 51 to 112.
Payable at the County
Treasurer's office.
Dated Sept. 1, 1931.
VALLEY
PLATTE
PUBLIC
POWER
AND
IRRIGATION DIS¬
TRICT, Neb.—PROJECT ATTACKED—F. Q. Feltz, retired lawyer and
farmer of Keystone, Neb., filed suit recently in Keith County District
Court to enjoin the further operation of the $9,700,000 Platte
Valley
Public Power and Irrigation District.
The district, a Public Works Ad¬
ministration project, is near completion of its hydroelectric plant.
<
Mr. Feltz, who says he has owned the riparian rights on land just below
the Platte Valley's diversion dam at Keystone for 48 years, contends his
land is being destroyed by the project's diversion of water from the North
Platte River watershed to the South Platte River watershed.
-
-
.
2)4%
2)4 %
2M %
2)4%
,_
2 M%
—
2)4%
-
2)4%
2)4%
2)4%
3%
—
For $94,000 Bonds
H. L. Allek & Company
New Jersey Mdmpipcxl Bonds
TelephohaftEdfor
OFFERED
B.
Carroll
&
Co.
are
offering the
for
N. Y. 1-528
A. T. & T.
TQ INVESTORS—John
_
,
2YL%
2)4%
above issue at prices to yield from 0.50% for the 1937 maturities to 2.00%
the 1945 maturities.
The 1946 maturities are priced at 99.
The
2-7333
100 Broadway
Colyer, Robinson & Co., Inc. and Schlater, Noyes &
Gardner
—$95,017.77
95,015.11
Campbell, Phelps & Co., Inc
bonds
New York
legal investment,
are
in
the
opinion of the
bankers, for savings
banks and trust funds in New York and New Jersey, and are interest exempt
from all present Federal income taxes.
TOWNSHIP
FRANKLIN
(P.
O.
Franklinville),
3.—BONDS
N.
APPROVED—The
State Funding Commission is said to have approved
recently the township's proposal to issue $155,000 in general funding bonds.
MUNICIPAL BONDS
MORRIS
bonds
New
Jersey and General Market Issues
PLAINS,
sold
Was
J.—BOND SALE—An issue of $42,000 3^%
the Morristown Trust Co., of Morristown.
N.
recently
to
Interest payable semi-annually.
"
NORTH BERGEN
B. J. Van Ingen & Co. Inc.
67
WILLIAM
A.
T.
Sc.
STREET. N. Y.
T.:
N.
Y
1-730
Telephon
Newark Tel.:
John 4-6364
:
TOWNSHIP, N. J.—RESUME OF NEWS BULLE¬
TINS PUBLISHED—Ira Haupt & Co., of New York City, has prepared a
leaflet containing a brief resume of news items that have come to their
attention, relating to the above township and its bonded debt, and is
intended to give a brief picture of the financial history of the municipality
during the past two and one-half years.
Market 3-3124
NORTH
WILDWOOD, N. J .—BONDS NOT SOLD—The $50,000 4%
semi-annual
not sold as
Sept. 1, 1935.
$25,000 City of Clifton, N. J.
Refunding Bonds, due Oct. 1, 1948
To Yield 4.10%
PASSAIC COUNTY (P.
—The
.
O. Paterson), N. 3.—BONDS AUTHORIZED
County Board of Freeholders is said to have authorized the issuance
of $50,000 in park bonds.
RED
Colycr, Robinson $ Company
INCORPORATED
1180
Raymond Blvd., Newark
New York Wire:
MArket 3-1718
A. T. & T. Teletype
REctor 8-2055
NWRK
BANK
to
3%, according to maturity, and are legal investments for savings banks
funds, according to the bankers, in New York, New Jersey and
and trust
various other States.
JERSEY
An amount of $155,000 is appropriated for the purpose
paying 1 )4 % on account of interest in default on debt to and including
31, 1934.
of interest defaults.
Dec.
(P.
O. Atlantic City),
N.
J.—REFUNDING
AUTHORIZATION
POSTPONED—Introduction of the refunding bond
ordinance, which must be passed looking to the liquidation of the defaulted
debt of Atlantic County by virtue of the agreement adopted last May with
the Protective Committee for Holders of County Bonds, will be deferred
until the September meeting of the Board of Freeholders.
According to
Edmund C. Gaskill, County Solicitor, nothing will be done about the debt
problem at the August meeting.
By the terms of the projected ordinance, refunding bonds to the sum of
$3,307,000 will be authorized, and will be used to take up outstanding
bonds in default since 1933.
The county in that year, and because of the
failure to collect taxes from the several cities, ceased to attempt to
pay
anything upon the principal of the bonded debt, and went behind with
interest.
SOLD—A $2,500 issue of ambulance bonds is
purchased privately by J. B. Hanauer & Co. of
Newark, as 3Ks, paying a premium of $1.82, equal to 100.07, a basis of
about 3.47 %
Denom. $500.
Dated Aug. 1, 1936. Due $500 from Aug. 1,
1937 to 1941, incl.
Bonds maturing in 1940 and 1941 are callable on
Aug. 1, 1939.
have
been
SAYREVILLE SCHOOL DISTRICT (P. O.
Sayreville), N. J.—BOND
SALE DETAILS—In connection.with the sale of the $112,000 refunding
bonds to B. J. Van Ingen & Co. of New York, reported in these columns
last June—V.
142, p. 4380—it is stated that the bonds were sold as 4 lA&,
payable J. & D.
Denom. $1,000.
Dated June 1, 1936.
Due on June 1
as follows: $5,000,1937
to, 1944; $7,000, 1945 to 1954, and $2,000 in 1955.
VERONA,
N.
3.—PAYMENTS
REDUCE
INDEBTEDNESS—A
reduction of $60,758 on Verona's indebtedness on bonds, notes and interest
was
effected
recently by the Council.
Mayor Slay back estimated this
would bring about an approximate 10% reduction in the 1937 tax rate.
A resolution by Councilman Zink authorizing payment to the Verona
Trust Co. of $22,000 and $5,790 interest on 15 assessment bonds and seven
general improvement bonds was adopted.
Payment of $14,600 on bonds
and notes also was approved.
Transfer of funds from the current division to the trust division to
pay
notes of
$12,000, on which 4% interest is being paid, was authorized.
authorizing payment to the county of $17,158 for State and
Resulution
When all defaulted
bonds have been exchanged for the new refunding
issue, the county will be ready to start liquidation of th e debt: It is required
by the pact of May 1 with the Protective Committee that that program
shall begin in 1937, and continue without interruption until the obligations
have been retired in full in 1950.
Another important bit of business
which will probably come up for
special action at the September meeting, it is expected, will be the bringing
of mandamus suits in Supreme Court against those cities that
happen to
be in default at that time.
Somers Point, Absecon and Longport are in
that category now.
Galloway and Weymouth
townships have as yet re¬
frained from signing agreements with the Freeholders to
pay current taxes
within 60 days of due dates, and therefore are also in
jeopardy of man¬
damus suits.
*
The county legal department was recently directed to take
action, and
notified the delinquent and negligent cities to
comply with the law. Actual
filing of suits against the municipalities has been deferred to give them
chance to obey, and to pay.
county taxes and payment of bills of $7,000 also were adopted.
WEEHAWKEN TOWNSHIP
SCHOOL DISTRICT
(P.
hawken), N. 3.—BOND ISSUANCE CONTEMPLATED—A
COUNTY (P. O. Hackensack), N. J.—NOTES SOLD—It
by R. S. Van Valen, Deputy County Treasurer, that $150,000
notes have been purchased by the County Sinking Fund
emergency
Commission.
CAMDEN, N. J.—TAX COLLECTIONS AT HIGH— Reflecting con¬
tinued application of vigorous methods of collection and
improve j ent in
taxpayers' ability to pay, the City of Camden for the seven months ended
July 31,1936. reports current tax receipts of $2,472,657.17.
This compares
with
$2,053,332 12 in the corresponding period of 1935, an increase of
$419,325.05, or in excess of 20%.
These collections for 1936 are the largest
O.
Wee-
bond
issue
of $611,743 will be floated by the township contingent
upon
Education receiving a Public Works Administration
bonds will
be issued to obtain
templated $1,112,260
WEST
NEW
new
revenue
to meet
the Board of
grant, it is said.
The
55% of the cost of a con¬
school project.
YORK, N. J.—BONDS OFFERED TO INVESTORS—
J. S. Rippel & Co.; B. J. Van Ingen & Co., Inc.; Schlater,
Noyes & Gardner,
Inc., and Adams & Mueller are offering $562,000 Town of West New York
4% and 4)4 % bonds for school, general improvement and general refunding
The offering consists of $186,000 of 4% bonds, due March 1,
1942 to 1951, priced to yield 4% to 4.25%, and $376,000 of
4)4% bonds
due Oct. 1, 1937 to 1968, priced to yield 2.50% to 4.50%.
purposes.
NEW
BERGEN
is stated
-
««
J.—BONDS
N.
.
PARK, N. 3.—PARTIAL INTEREST PAYMENT—The
City Council on Aug. 11 adopted a resolution directing a partial payment
COUNTY
-
24
ASBURY
ATLANTIC
DISTRICT,
of Red Bank, Board of Education 4% school bonds, dated Jan. 1, 1935,
and due Jan. 1, 1937 to 1954, inci.
The bonds are priced to yield 0.40%
reported to
of
,
SCHOOL
N. J.—BONDS OFFERED TO
INVESTORS—Webster, Kennedy & Co., Inc., is offering $130,000 Borough
""RUMSON,
NEW
bonds offered on Aug. 18—V. 143, p. 959—-were
were no bids received, according to the City Clerk.
Dated
Due from Sept. 1, 1940 to 1947.
refunding
there
ALBUQUERQUE
MEXICO
MUNICIPAL
SCHOOL
DISTRICT,
N.
Mex.—
BOND SALE—The Harris Trust & Savings Bank of
Chicago has purchased
and is now offering to/investors an issue of $285,000
4% coupon, registerable
as to principal, school
building bonds, at prices to yield from 2.10%to
3.25%, according to maturity.
Denom. $1,000.
Dated Jan. 1, 1936.
Principal and semi-annual interest (Jan. 1 and July 1) payable at the office
of the State Treasurer in Santa Fe, or at the Central Hanover Bank &
Trust Co., in New York.
Due $15,000 yearly on Jan. 1 from 1941 to 1959,
inclusive.
<■.
»
Volume
Financial
143
AZTEC, N. Mex.—BOND SALE—The $20,000 issue of coupon sewerage
disposal system bonds offered for sale on July 27—V. 143, p. 471—was
purchased by the State Treasurer, as 4s, at par.
Dated Sept. 1, 1936.
Due from 1939 to 1955, inclusive.
Chronicle
100.099,
Geo. B. Gibbons & Co. of New York
bid a premium of $8.40 for 2.40s. Dated Sept. 1, 1936. Due $3,000 yearly
on
Sept. 1 from 1937 to 1940, incl.
MAMARONECK,
that
the
Town
—
Wanted
Y.—BOND
N.
Board
$44,346.25 Post
Offeringa
1273
.
basis of about 2.21%.
a
AUTHORIZED—It
SALE
authorized
has
Road
the
sale
of
the following
is said
bonds:
and $36,000 water works
rights-of-way damages,
mains bonds.
New York State Municipals
MANCHESTER UNION FREE SCHOOL DISTRICT
Shortaville), N. Y.—PURCHASER—It is
NO. 7 (P. O.
reported by the District
now
Clerk that the $10,000 school bonds sold as 3s at 100.19, a basis of about
2.96%
as noted here recently—V. 143, p. 1122—were purchased by the
State Bank of Shortsville.
Due $1,000 from 1937 to 1946, inclusive.
County—City—Town—School Dletrict
,
Gordon Graves & Co.
YORK STOCK EXCHANGE
MEMBERS NEW
WALL ST.,
1
Whitehall 4-5770
N. Y.
NEW
CLARKSTOWN
YORK
NO.
DISTRICT
SCHOOL
COMMON
9
(P.
O.
Upper Nyack), N. Y.—BOND SALE—The $6,500 issue of 4% annual
offered for sale on Aug. 14—V. 143, p. 960—was awarded to
the First National Bank of Spring Valley, at a price of 103.107, a basis of
about 2.91%.
Dated Aug. 14, 1936.
Due from Dec. 1, 1937 to 1942, incl.
school bonds
COLONIE,
LATHAM
WATER
O.
(P.
DISTRICT
Newtonville),
until
noon
(Daylight Standard Time) on Aug. 31, by Thurston J. Kenyon,
Clerk, for the purchase of three issues of coupon or registered
aggregating $44,000, as follows:
■
Town
bonds,
N.
Y.—BOND
OFFERING—Sealed
bids
will
be
received
for
the
construction
certain
of
$1,000.
extensions
the
to
system, pursuant to the Town Law and Chapter
as
amended.
existing
water
782, Laws of 1933,
5,000 road extension No. 2 bonds.
Denom. $500.
Dated Sept 1, 1936.
Due $500 from Sept. 1, 1938 to 1947, incl.
Prin. and int. (M. & S.)
19345
payable in lawful
money at the New York State National Bank,
Albany.
Issued for the purpose of providings funds for construcing Sicker Road Exteniosn No. 2 to the existing water system in
the district, pursuant to the town law.
Interest rate is not to exceed 4 %, expressed in a single rate in multiples
of M or 1-10 of
1%. The approving opinion of Clay, Dillon & Vandewater
of New York will be furnished the purchaser.
An $880 certified check, pay¬
able to the town, must accompany the bid.
N. Y.—BOND OFFERING—Sealed bids will
(Eastern Standard Time) on Sept. 1, by Guy E.
Thompson, Village Clerk, for the purchase of a $6,000 issue of coupon
fire equipment bonds.
Bide will be opened in the Village Hall.
Interest
rate is not to exceed 6%, expressed in a multiple of M or l-10th of 1%.
Denom. $500.
Dated Sept. 1, 1936.
Due $1,000 from Sept. 1, 1938,
to 1943 incl.
Prin. and int. (M. & S.) payable at the East Rockaway
National Bank & Trust Co., or, at the option of the holder, at the Bank
of New York & Trust Co. in New York City.
Legality to be approved
by Hawkins, Delafield & Longfellow, of New York.
A certified check
for 2% of the bonds, payable to the Village, must accompany the bid.
ROCKAWAY,
be received until 2 p. m.
FREEPORT, N. Y.—BONDS TO BE SOLD—Stephen W. Hunt, Village
Treasurer, states that the following bonds, approved by the voters on
March 17, will be offered for sale at an early date:
$200,000 water supply,
and $45,000 fire station bonds.
GLENHAM
FIRE
DISTRICT
(P.
O.
Glenham),
N.
Y.—BOND
OFFERING—Albert E. McCutcheon, Secretary of the Board of Fire Com¬
missioners, received bids until 4 p. m. (Eastern Standard Time) Aug. 20
for
the§ purchase at not less than par of $6,000 coupon, fully registerable,
bonds. Bidders named rate of interest, in a multiple of M %
1-10%, but not to exceed 6%. Denom. $1,000.
Dated Aug. 1, 1936.
Principal and semi-annual interest (Feb. 1 and Aug. 1) payable at the
Matteawan National Bank, Beacon, in New York exchange.
Due $1,000
yearly on Aug. 1 from 1937 to 1942. Approving opinion of Clay, Dillon &
Vandewater of New York will be furnished by the district.
fire apparatus
or
>
.
Financial Statement
,
•
The assessed valuation of the property subject to the taxing power of the
district is $425,570.
The total bonded debt of the district, including the
above mentioned bonds, is $6,000.
The estimated population of the dis¬
trict
The bonded debt above stated does not in¬
subdivision having power to levy taxes upon
all of the property subject to the taxing power of the district. The
fiscal year commences Jan. 1.
The amount of taxes levied for the fiscal
years commencing Jan.
1, 1933, Jan. 1, 1934, and Jan. 1, 1935, was,
respectively, $1,191, $985 and $1,105.
The amount of such taxes uncol¬
(1930 census) was 918.
clude the debt of any other
any or
lected at the end of each of said fiscal years was none.
The taxes for the fiscal year commencing Jan. 1,
1936, amounted to
$1,290, which amount has been collected. All uncollected taxes due to the
fire district have been advanced by the Town Supervisor to the fire district.
HANCOCK, N. Y.—BOND OFFERING—Sealed bids will be received
(Eastern Standard Time) on Aug. 21, by Vincent N. Elwood,
Village Clerk, for the purchase of a $25,000 issue of coupon or registered
street improvement bonds.
Interest rate is not to exceed 4%, payable
F. & A.
A single rate of interest for all of the bonds is required.
Denom.
$500.
Dated Aug. 1, 1936.
Due on Aug. 1 as follows:
$1,500, 1937 to
1952, and $1,000 in 1953.
Prin. and int. payable in lawful money at the
First National Bank, Hancock.
The bonds will be issued and sold pursuant
to Sections
128 and 129 of the Village Law, as amended to date, and
Sections 6, 7 and 9 of the General Municipal Law, as amended, and the
statutes in such cases made and provided.
The village operates under the
provisions of the Village Law and the applicable provisions of the General
Municipal Law of the State.
A certified check for $1,000, payable to the
village, must accompany the bid.
until 4 p. m.
The following statement is issued in connection
with the above offering:
Financial Statement
Assessed valuation of real property for 1936, $789,350; special franchise,
$76,684; total assessment, $866,034.
Total bonded debt (including this issue), $25,000.
Population of Village of Hancock, 1,450.
Tax Collection Record
Levy I
Year End. Feb. 28—
Levy
$15,00011936
$15,000
15,0001
The fiscal year is from March 1 to Feb. 28.
For the current fiscal year beginning March 1, 1936, the amount of tax
evied is $15,000, of which there has been received to date $14,203.55.
The village operates under 'the provisions of the village law and the
applicable provisions of the General Municipal Law of the State of New
Year End. Feb. 28—
York.
The foregoing statement of bonded debt does not include the debt of any
other subdivision having power to levy taxes upon any or all of the property
subject to the taxing power of said village.
N. Y.—BOND OFFERING—Sealed bids will be received
until 3 p. m. (Eastern Standard Time) on Aug. 24, by John E. Cessna,
Village Treasurer, for the purchase of a $40,000 issue of registered sewer
main bonds.
Interest rate is not to exceed 3%, payable M. & S.
Denom.
$1,000.
Dated. Sept. 1, 1936.
Due $2,000 from Sept. 1, 1937 to 1956, incl.
Rate of interest to be in multiples of 1-10 of 1 % and must be the same for
all of the bonds.
Prin. and int. payable in lawful money at the National
Bank of Liberty, in New York exchange.
A certified check for 5% of the
amount bid, payable to the Village, is required.
LIBERTY,
MALVERNE, N. Y.—BOND SALE—The $12,000 coupon or legistered
Aug. 20—V. 143, p. 1122—were awarded to
2 Ms at a premium of $11.88, equal to
tax revenue bonds offered on
the Marine Trust Co. of Buffalo as
FREE
DISTRICT
SCHOOL
NO.
coupon,
1
(P.
O.
registerable,
a basis of about 2.65%.
Geo. B. Gibbons & Co. of New York bid
Dated Aug. 1, 1936.
Due $1,000 yearly
Aug. 1 from 1937 to 1956, incl.
premium of $43.28 for 3.20s.
NEWPORT, N. Y.—BOND OFFERING—Sealed bids will be received
2 p. m. (Eastefn Standard Time) on Sept. 8, by Lumis C. Ford,
Village Treasurer, for the purchase of a $5,400 issue of 4% coupon water
extension bonds.
Denom. $300.
Dated Sept. 1, 1936.
Due $300 from
July 1, 1938 to 1955 incl.
Interest payable annually on July 1.
until
NEW
suant to the town law.
UNION
2.70s,
on
■
4,000 road extension No. 3 bonds.
Denom. $500.
Dated Sept. 1, 1936.
Due $500 from Sept. 1, 1938 to 1945, incl.
Prin. and int. (M. & S.)
payable in lawful money at the New York State National Bank,
Albany.
Issued for the purpose of constructing ,Boght Road
Extension No. 3 to the existing water system in the district pur¬
EAST
NEW ALBION
Cattaraugus), N. Y.—BOND SALE—The $20,000
general obligation, unlimited tax, school building bonds offered on Aug. 20
were awarded to the Citizens Trust Co. of Fredonia on a bid of 100.50 for
a
Dated Nov. 1, 1935.
Due on Nov. 1 as follows:
$2,000, 1937 to 1946, and $3,000, 1947
to 1951.
Prin. and int. (M. & N.) payable in legal tender at the
Guaranty Trust Co. in New York.
Said bonds are issued for the
purpose of paying the portion of the cost to be borne by the district
Denom.
$35,000 water extension bonds.
MINEOLA, N. Y.—BOND OFFERING—Dwight G. Hunt. Village Clerk
and Treasurer, will receive bids until 11 a. m. (Daylight Saving Time)
Aug. 31 for the purchase at not less than par of $125,000 coupon, fully
registerable, general obligation, unlimited tax, water bonds.
Bidders are
to name rate of interest, in a multiple of M or 1-10 %, but not to exceed 5%.
Denom. $1,000.
Dated Aug. 1, 1936.Principal and semi-annual interest
(Feb. 1 and Aug. 1) payable at the First National Bank, Mineola, in New
York exchange.
Due on Aug. 1 as follows: $5,000, 1937 to 1943; $6,000,
1944, and $7,000,1945 to 1956.
Certified check for $2,500, payable to the
village, required.
Approving opinion of Clay, Dillon & Vandewater of
New York will be furnished by the village.
YORK,
N.
Y.—CITY
RECEIVED
$10,857,858
IN
TAXES
DURING JULY—A reduction of $10,857,858 in the amount of outstanding
taxes, incl. assessments collectible with taxes, was made during July by
New York City, the report of Comptroller Frank J. Taylor reveals.
Taxes
than
against the 1936 levy were reduced $6,886,811, of which more
$5,000,000 represented first half taxes.
Another $2,099,072 was
total outstanding to $41,547,686.
received from the 1935 levy, reducing the
Delinquencies from the 1934 levy were reduced to $27,542,605 from
$28,392,392 at the end of June, while the total outstanding against 1933 and
prior years was cut $1,022,286 to $68,694,901.
Total bonded debt was reduced about $6,000,000 during the month, the
figure being $2,495,744,581, against $2,501,796,496 at the end of June.
Total
funded
debt
was
slightly lower at $2,269,975,081, against $2,272,-
An increase of $5,000,000 was shown in the amount of special
176,996.
corporate stock notes outstanding to a total of
$66,000,000.
Total funded
rose slightly because of this to $2,335,975,081
$2,333,176,081.
Temporary debt on the other hand was reduced
$159,769,500 from $168,619,500 at the end of June.
■
debt and debt to be funded
from
to
NEW
Y.—BOND AUTHORIZATION MEASURE TO BE
meeting of the Board of Aldermen to be held on Aug.
requesting
the Board of Estimate and Apportionment to authorize the Comptroller
to issue up to $7,000,000 in special revenue bonds.
These bonds are to be
issued during the years 1937 to 1941 in a sum not to exceed $1,400,000 in
any one year, the proceeds thereof to be used for the immediate purchase
of equipment required by the Department of Sanitation.
YORK,
N.
CONSIDERED—At
25 it is said that
NIAGARA
a
a
resolution will be presented for final action,
FALLS, N. Y.—BOND OFFERING—William D. Bobbins,
City Manager, will receive bids until-. 11 a. m. (Daylight Saving Time)
Aug. 24, for the purchase at not less than par of $40,000 coupon, fully
registerable, general obligation, unlimited tax, waterworks improvement
bonds, series D.
Bidders are to name rate of interest, in a multiple of M %
or 1-10%, but not to exceed 4%.
Denom. $1,000.
Dated Aug. 15, 1936.
Principal and senfi-annual interest (Feb. 15 and Aug. 15) payable at the
City Treasurer's office, or at the Central Hanover Bank & Trust Co., in
New York, at holder's option.
Due $4,000 Feb. 15, 1952, and $18,000 on
Feb. 15 in 1953 and 1954.
Certified check for $800, payable to the city,
Approving
required.
opinion of Clay,
the city.
Dillon
&
Vandewater
of New
York will be furnished by
ORLEANS COUNTY (P. O.
Albion), N. Y.—BOND SALE—The $75,-
000 coupon or registered highway bonds offered on Aug. 20—V. 143, p.
awarded to the Harris Trust & Savings Bank of New York on a
—were
801
bid
Dated July 20, 1936.
Due
follows: $7,000 from 1938 to 1942, and $10,000 from 1943 to 1946.
of 100.237 for 1.90s, a basis of about 1.86%.
July 20 as
AND BETHANY, GENESEE COUNTY, COVINGTON
MIDDLEBURY, WYOMING COUNTY, AND YORK, LIVING¬
COUNTY, CENTRAL SCHOOL DISTRICT NO. 1 (P. O.
Pavilion), N. Y —CERTIFICATE OFFERING—Amy W. Lobaugh, Dis¬
trict Clerk, will receive bids until 3p.m. (Eastern Standard Time) Aug. 31
for the purchase at not less than par of $17,810 school certificates of in¬
debtedness, fully registerable.
Bidders are to name rate of interest, in a
multiple of M%or 1-10%, but not to exceed 5%.
Denom. $500, except
one for $310.
Dated Sept. 1, 1936.
Prin. and semi-ann. int. (March 1
and Sept. 1) payable at the Pavilion State Bank in Pavilion, with New
York exchange.
Due $3,500 on Sept. 1 in each of the years 1937, 1938,
1939 and 1940, and $3,810 on Sept. 1 in 1941.
Cert, check for $500, pay¬
able to Martha Wheeler, District Treasurer, required.
The certificates are
direct general obligations of the distriit and are payable from unlimited
PAVILION
AND
STON
taxes.
POUGHKEEPSIE, N. Y.—CERTIFICATE OFFERING—Sealed bids
until 11a.m. (Daylight Saving Time) on Sept. 1, according
report, by Le Grande Crippen, City Treasurer, for the purchase of a
$32,000 issue of certificates of indebtedness.
Dated Sept. 15, 1936.
Due
on Feb. 15,1937.
will be received
to
POUGHKEEPSIE,
Y.—BIDS RECEIVED—'The following is the
$150,000 home and work relief bonds
York:
N.
official list of the bids received for the
awarded
on
Aug. 14 to Stranahan, Harris & Co. of New
Int. Rate
1.70
Amount Bid
$230,230.00
1.70
1.75
230,181.70
230,529.00
Blyth & Co. & Dick & Merle-Smith, N. Y
First Boston Corp., N, Y
First of Michigan with Lazard Freres & Co., N. Y.
R. W. Pressprich & Co., N. Y
Manufacturers & Traders Trust Co. of Buffalo..
Harris Trust & Savings Bank, N. Y—
1.75
230,273.70
Phelps, Fenn & Co., N. Y
Halsey, Stuart & Co., N.
Bankers Trust Co., N. Y
1.80
1.80
Name of
Bidder—
Stranahan, Harris & Co., N. Y
First National Bank
B. J. Van Ingen &
Co., N. Y_
-
Y
son
230,271.40
1.80
1.80
230,319.70
230,269.10
230,089.70
230.408.7l
230,211.60
230,156.00
1.80
1.90
Y
230,068.77
1.90
Geo. B. Gibbons & Co., N.
Washburn & Co.,
1.75
1.75
1.80
230,549.70
1.90
230,480.93
230,551.31
N. Y., with Kelley, Richard¬
& Co., Chicago.
Granbery, Safford & Co. with Kean, Taylor &
Co., N. Y
Bank of Manhattan Co. with Sherwood & Merrifield, Inc., N. Y
A. G. Becker & Co.,
1.90
—
230,322.00
2.00
Chicago
Bacon, Stevenson & Co., N. Y
230,647.40
2.10
230,529.00
ROCHESTER, N. Y.—BONDS AUTHORIZED—It is reported that the
City Council has approved a report of the Finance Committee, authorizing
i»he issuance of $1,500,000 in public welfare bonds.
is
SCHENECTADY, N. Y.—BONDS AUTHORIZED—'The City Council
to have authorized the issuance of $640,000 in debt equalization
said
understood that this action was taken in order that the
sold by Oct. 1, as required by State law.
They will reduce
budget by the face value of the bonds and extend the ma¬
turities of outstanding bonds.
bonds.
It
is
bonds may be
the 1937 city
UTICA, N. Y.—CERTIFICATE SALE—The $500,000 tax anticipation
certificates of indebtedness offered on Aug) 18—V. 143, p. 1123—were
awarded to the Chase National Bank of New York, on a .18% interest
1274
Financial
basis, plus $3 premium.- The Chemical National Bank of New York, bid
.20% interest, plus $7 premium.
Dated Aug. 20, 1936 and payable Nov.
20. 1936.
Due
at
1936
22,
place of purchaser's choice.
The approving opinion of Storey, ThornPalmer & Dodge, of Boston, will be furnished.
A certified check
$540, payable to the State Treasurer, must accompany the bid.
dike,
for
DAKOTA
BOWBELLS, N. Dak.—CERTIFICATE OFFERING—H. C. Wood,
City Auditor, will receive bids until 2 p. m. Aug. 29, for the purchase of
$5,000 certificates of indebtedness.
N. C. Street 4i/2s,
January 1938 at 1.50% basis
FLAXTON, N. Dak.—BOND SALE—The $7,000 bonds offered on
Aug. 10—V. 143, p. 632—were awarded to the Flaxton Community Hos¬
pital Association on a bid of par for 4Hs.
Due Aug. 1 as follows: $500,
1939 and 1940, and $1,000, 1941 to 1946..
F. W. CRAIGIE & COMPANY
Richmond, Va.
JAMESTOWN, N. Dak.—BOND ELECTION REQUESTED—The City
Clerk reports that the City Council has been requested again to call an
election on the proposed issuance of $200,000 in municipal auditorium bonds.
A. T. T. Tel. Rich. Va. 83
Phone 8-9137
Aug.
NORTH
$25,000.00 >
CITY OF RALEIGH,
Chronicle
Similar petitions were previously rejected by the said Council.
MOHALL, N. Dak.—REPORT ON SUPREME COURT DECISION ON
PAYMENTS—Secretary Wattam of the North Dakota
WARRANT
MARKETS APPRAISALS INFORMATION NORTH CAROLINA STATE
Bankers Association has just issued
a
bulletin to his members on the recent
city of Mohall special assessment warrants' case handed down by the
Supreme Court of that State.
Mr. Wattam analyzes the opinion, which, he points out, holds, in brief,
AND MUNICIPAL R0NDS ALL SOUTHERN STATE AND MUNICIPALS
a North Dakota municipality has reached its debt limit it can¬
legally levy a general tax for the payment of the deficiency remaining
the warrants of any special improvement district at the maturity of
the last special assessment improvement warrant.
Mr. Wattam advises
his bank association members that where the question of the debt limit of a
municipality may become involved before the maturity of the date of the
last warrant they should consult their attorneys with respect to the possi¬
bility of an uncollectible deficiency.
that where
not
KIRCHOFER
ARNOLD
&
upon
INCORPORATED
RALEIGH. N. O.
N.
SCRANTON SCHOOL DISTRICT NO. 13, Bowman County, N. Dak.
OFFERING—Oscar
D.ejaegher,
District
Clerk,
will
CAROLINA
NORTH
BURLINGTON,
T. T. TELETYPE RLGH 80
A
C.—NOTE SALE—A.
anticipation
notes is reported to have
National Bank of Burlington, at 1 Y %.
been
—CERTIFICATE
820,000
Issue ot revenue
purchased by the Security
,
CASWELL COUNTY (P. O. Yanceyville), N. C.—NOTE SALE—It
reported that the following notes aggregating $64,500 were purchased
Aug. 18, by the Wachovia Bank & Trust Co. of Winston-Salem:
$63,000 revenue anticipation notes at 4%, plus a premium of $1.50.
1,500 revenue anticipation notes at 6%, plus a premium of $7.50.
DUNN, N. C.—BONDS AUTHORIZED—Ordinances
been
and
said
are
to
$1,000.
Int. payable annually.
Certified check for 5% of amount of bid,
required.
.• .'.v';-.".'.,'-.''v.V
''V"-V
is
on
have
passed
recently by the Town Commissioners, providing for the
$154,298 in bonds, divided as follows:
$136,500 refunding
$17,798 funding bonds.
issuance
1 p.m. Aug. 28 for the purchase at not less than par of
$3,000 certificates of indebtedness bearing int. at no more than 7%. Denom.
receive bids until
of
N.
VELVA,
Dak.—BOND OFFERING—Elling Tweet,
Auditor,
City
will receive bids until 2 p. m
of $5,000 underpass bonds.
Certified
for
check
Aug. 31 for the purchase at not less than par
Payable serially in no more than five years.
required
2%
WILLOW CITY SCHOOL DISTRICT, N. Dak.—BONDS VOTED—
At a recent election the people voted favorably on the question of issuing
building bonds.
$30,000 school
DURHAM COUNTY (P. O. Durham), N. C.—BOND ISSUANCE
PROPOSED—It is stated by D. W. Newsom, County Manager, that the
county has made application to the Public Works Administration for a
grant in connection with the $363,000 school building bonds proposed re¬
.
MUNICIPALS
OHIO
cently by the County Commissioners.
He states that if a grant should not
be authorized the bonds will probably not be issued.
MITCHELL, HERRICK & CO.
DURHAM, N. C.—NOTE OFFERING—It is reported that sealed bids
will be received until Aug. 25,
by W. E. Easterling, Secretary of the Local
Commission, at his office in Raleigh, for the purchase of a
$25,000 issue of revenue anticipation notes.
700
Government
CANTON
CUYAHOGA
AKRON/.
BUILDING, CLEVELAND
CINCINNATI
COLUMBUS
SPRINGFIELD
FORSYTH
COUNTY (P. O. Winston Salem), N. C.—NOTE SALE
$60,000 issue of bond anticipation notes is reported to have been
purchased by the Wachovia Bank & Trust Co. of Winston-Salem, at 1H%.
plus a premium of $1.23.
—A
NORTH
CAROLINA,
State
of—ISSUANCE
OF
ADDITIONAL
HIGHWAY BONDS PROPOSED BY TREASURER—The following is the
text of a news dispatch from Raleigh to the "Wall Street Journal" of
Aug. 18:
"The
issuance
of
additional
State
bonds
in
1937, to rebuild present
'inadequate' stretches of main arterial highway and to reconstruct county
roads, nas been advocated by State Treasurer Charles M. Johnson.
'Since the State has decreased its bonded indebtedness by at least
$24,000,000 since Jan. 1, 1933, and since the State's debt service require¬
ments will be approximately $2,500,000 a year less by 1939 than it has
been for the past several years, the State could well afford to issue about
$25,000,000 in new highway bonds and rebuild the present inadequate
stretches of main arterial highways and county roads, and still not increase
its debt service requirement or increase taxes,' Mr. Johnson said.
He
contended present gasoline and motor vehicle taxes cannot be reduced if
the State wants more and better highways.
"Debt service requirements on outstanding road bonds will decrease
rapidly after 1940, so that even with the proposed issue, the total debt
service needs will be even less than for the past 15 years, he said, and
OHIO
BEDFORD, Ohio—BONDS NOT SOLD—We are informed that the
issues of 4% semi-annual refunding bonds aggregating $443,517.63,
offered on Aug. 17, as noted here recently, were not sold as no bids were
two
The
received.
to
a
low rate of
"Meanwhile, the claims of 44 counties against the State for money,
aggregating approximately $8,000,000, advanced by them when the last
road building program was under way, may cause the issuance of additional
road bonds,
Mr. Johnson hinted.
The State Road Debt Commission
is now receiving data on the claims for presentation to the next General
Assembly.
The issuance of bonds is seen as the only method by which
the counties might be repaid."
PITTSBORO,
N.
C.—NOTE
SALE
CONTEMPLATED—A
to 1950
Bonds
are
C.—BOND
ISSUANCE
CLEVELAND, Ohio—BOND SALE—A syndicate managed by Lehman
and including Blyth & Co., New Vork; Estabrook
Co., New York; Stone & Webster and Blodget, New York; Phelps,
Fenn & Co., New York; Morse Bros. & Co., New York; Field, Richards
&
Shepard, Cincinnati; Braun, Bosworth & Co., Toledo; Stranahan,
Harris & Co., Toledo: Provident Savings Bank & Trust Co., Cincinnati,
and Breed & Harrison, Cincinnati, was awarded the $2,784,500 coupon,
registerable bonds, for which bids were received on Aug. 13.
The pur¬
chasers paid a price of 100.03, taking a $2,138,000 issue at 2%% and a
block of $646,500 at 2M%.
The net interest cost to the city is 2.6884%
annually.
The bonds are described as follows:
&
$646,500 2Hi%
serial limited tax refunding bonds.
Denom. $500.
Due Sept. 1 as follows: $46,500, 1938; $46,000, 1939 to 1949,
and $47,000, 1950 and 1951.
2,138,Q00 224% serial unlimited tax refunding bonds.
Denom. $1,000.
Due Sept. 1 as follows: $152,000, 1938 to 1941, and $153,000,
1942 to
up
securities
APPROVED—The
Local
damaged by the recent floods.
ROBESON COUNTY (P. O. Lumber ton), N. C—BONDS AUTHOR¬
IZED—The County Board of Commissioners is said to have ordered the
issuance of $80,000 in school building and equipment bonds, following a
request by the Board of Education, originally for a higher amount but
which
was
reduced at the order of the said Commissioners.
SHELBY,
N.
Car.—BIDS RECEIVED—The
following
is
an
official
list of the bids received for the $52,000 public improvement bonds which
were awarded on Aug. 11 to R. S. Dickson & Co. of Charlotte:
J3iP/Ctte
Price
Wachovia Bank & Trust Co.—For the 1st $44,000---4%
1
For the balance..
__,3i\i%)
$52,016.00
Kirchofer & Arnold
-&352,130.00
•
R. S. Dickson & Co.—For the 1st
$36,000
For the remainder
Lewis & Hall, Inc.—For the 1st $42,000
For the remainder
Equitable
Securities
Corp.
and
McAlister
For the 1st $27,000
For the remainder....
William B. Greene Co.—For the 1st
$48,000
For the remainder
SOUTHERN
PINES,
3 W%\
3%
/
52,037.10
--3J4%\
3%
/
52,035.00
Smith
&
Pate
3Y%\
3H%
3Yi% I
52,374.40
3H%I
52,000.00
N. C.—BOND OFFERING—Sealed bids will
(Eastern Standard Time) on Aug. 25 by W. E.
Easterling, Secretary of the Local Government Commission, at his office
in Raleigh, for the purchase of a
$27,000 issue of coupon public improve¬
ment bonds.
Interest rate is not to exceed
6%, payable J. & J.
Rate
to be stated in multiples of M of
1%.
Denom. $1,000.
Dated July 1,
1936.
Due on July 1 as follows: $1,000, 1938 to
1948, and $2,000, 1949 to
1956, all incl.
Prin. and int. payable in lawful money at the Chemical
Bank & Trust Co. in New York City.
Each bid may name one rate for
part of the bonds (having the earliest maturities), and another rate for
the balance, but no bid may name more than two rates and each bid must
specify the amount of bonds of each rate.
Lowest net interest cost will
determine the award of these bonds by the town.
No bid for less than
par and accrued interest will be entertained.
Delivery on or about Sept. 10,
be received until 11
a.
m.
1951 incl.
Dated Sept. 1, 1936.
Prin. and semi-ann. int. (M. & S. 1) payable at
the Irving Trust Co., in New York.
CLEVELAND, Ohio—LIST OF BIDS RECEIVED—We give below
a
complete list of the bids received for the $2,784,500 refunding bonds which
awarded on Aug. 13 to a syndicate managed by Lehman Bros, of
New York.—V. 143, p. 1123:
were
It is reported that the Commission also
approved an issue of $100,000
take
1, 1941
incl.
subject to redemption on and after Oct. 1,1941.
Bros, of New York,
revenue anticipa¬
Aug. 18 by the Wachovia
Government Commission is said to have approved the proposed issuance
$695,000 in refunding bonds, to replace obligations now bearing 5%
interest, whereas it is hoped to issue the new bonds at 3Y% interest.
to
Due from Oct. 1, 1941
Due from Oct.
(P. O. Bridgeport), Ohio—BOND SALE—The $4,500
5% semi-annual city building and fire station bonds offered for
Aug. 17—V. 143, p. 802—was awarded to the Bridgeport National
Bank, paying a premium of $10, equal to 100.222, a basis of about 4.95%.
Due $500 from Oct. 1, 1937 to 1945,. incl.
$72,000
of
bonds
follows:
on
RALEIGH, N. C.—NOTE SALE—A $13,000 issue of
N.
as
BROOKSIDE
according to report.
RALEIGH,
divided
issue of
sale
issue of revenue anticipation notes will be offered for sale in the near future,
tion notes is reported to have been purchased on
Bank & Trust Co. of
Winston-Salem, at 1)^%.
are
1950 incl.
23,000.00general unlimited refunding bonds.
"
added the present fiscal condition of the State would allow
interest to be obtained.
issues
$420,517.63 special assessment, refunding bonds.
/
Bidder—
Premium
'
Field, Richards & Shepard, Inc., Cincinnati; Lehman Bros., N. Y.;
Blyth & Co., Inc., N. Y.; Estabrook & Co., N. Y.; Stone &
Webster and Blodgett, N. Y.; Phelps, Fenn & Co., N. Y.;
Morse Bros. & Co., Inc.* N. Y.; Braun, Bosworth & Co., Toledo;
Stranshan, Harris & Co., Toledo; Provident Savings Bank Trust
Co., Cincinnati, and Breed & Harrison, Inc., Cincinnati—$646,A.
500.00@2^%, $2,138,000.00@2^%--_
J
C. Allyn & Co., Chicago; Graham Parsons & Co.,
$835.37
N.
Y.;
John Nuveen & Co., Chicago; Stifel Nicolaus & Co., St. Louis;
Schlater, Noyes & Gardner Co., Inc., N. Y.; Granbery Safford
& Co., N. Y.; Assel, Goetz & Moerlein,
Cincinnati, Fox, EinCo., Cincinnati; Grau & Co., Cincinnati; Kalman & Co.,
St, Paul; Chas. A. Hinsch & Co., Inc., Cincinnati; McBride,
Miller & Co., N. Y., and Nelson, Browning & Co., Cincinnati—
$646,500.00@3%, $2,138,000.00@2H%.
11,493.45
Edward B. Smith & Co., (Mgr.), N. x.; Hayden Miller & Co.,
Cleveland; Brown, Harriman & Co., Inc., N. Y.; R. W. Pressprich & Co., N. Y.; Mercantile Commerce Bank & Trust Co.,
St. Louis; The First Cleveland Corp., Cleveland ; The Illinois
Co. of Chicago; The
Weil, Roth & Irving Co., Cincinnati;
Wells-Dickey Co., Minneapolis; Seasongood & Mayer, Cin¬
cinnati; Schoelkopf, Hutton & Pomeroy, Inc., Buffalo; Johnson,
Kase & Co., Cleveland; Ryan, Sutherland & Co., Toledo, and
Widman, Holzman & Katz, Cincinnati—$646,500.00@3%,
$2,138,000.00 @2 %%
10,856.77
Mitchell, Herrick & Co., Cleveland; Halsey, Stuart & Co., Inc.,
N. Y.: Bancamerica-Blair Corp., N. Y.; B. J. Van Ingen & Co.,
Inc., N. Y.; E. H. Rollins & Sons, Inc., N. Y.; Darby & Co.,
Inc., N. Y.; First of Michigan Corp., Detroit; Otis & Co., Inc.,
Cleveland; McDonald, Coolidge & Co., Cleveland; McAlister,
Smith & Pate, Inc., Greenville; Van Lahr, Doll & Ishpording,
Inc., Cincinnati; Piper, Jaffray & Hopwood
Minneapolis,
Hawley, Huller & Co., Cleveland, and Eldredge & Co., Inc.,
N.
Y.—$646,500.00@2M%. and $2,138,000.00@3%
4,065.37
„
horn &
All of the above bids
were
"for all
or
none."
Edward B. Smith & Co. and associates also bid separately
-
For the
For the
$646,500.00—3%*.
$2,138,000.00—2H%
as
follows:
$2,701.72
3,628.19
Volume
The
Financial
143
$1,215,500 serial limited tax refunding bonds which were
originally
Included in the offering had been withdrawn and sold to the Sinking
Commission.
This issue is in the denom. of $1,000, except for one
of $500, and is dated Sept. 1,
follows: $86,500, 1938: $86,000,
Funa
bond
1936.
The bonds mature on Sept. 1 as
1939 and 1940, and $87,000, 1941 to 1951.
HEIGHTS, Ohio—VOTERS REJECT DEBT LEVY—
By a vote of 3,424 to 2,838 the voters on Aug. 11 in a special election turned
down the request of their city officials that they approve the transfer of a
2.2 mill city debt levy outside the 10-mill limitation.
CLEVELAND
CUYAHOGA COUNTY (P. O. Cleveland), Ohio—BOND OFFERING
—Geo, H. Stahler, Clerk of the Board of County Commissioners, will
receive bids until 11 a. m. (Eastern Standard Time) Sept. 4 for the purchase
at not less than par of j$3,800,000 3
% coupon registerable refunding bonds,
divided
as
follows:
.
$1,200,000 general bonds, series A.
Due $60,000 on April
in each of the years from 1942 to 1951, inclusive.
a
county.
Ohio—BOND ELECTION SCHEDULED—E. E. Hagerbefore its voters
November election the proposed issuance of $400,000 in water works improvement bonds.
It is said that this proposal has
been actuated because of the effect of a recent State Supreme Court decision
on
so-called "Portsmouth" bonds.
These bonds are payable primarily
from the revenues of the water works but if such revenues are insufficient
a tax levy outside the limitations will be made for their payment.
It is understood that in the near future the city will refund $168,626 in
street paving assessment bonds and $162,000 in water works bonds.
The
DAYTON,
Director of Finance, reports that the city will place
man,
for their approval at the
water works bonds will be refunded
because of the court decision mentioned
above.
The Board of Sinking Fund Trustees is said to have authorized the
purchase of both of these refunding issues for investments.
COUNTY
DEFIANCE
BOND
O.
(P.
PROPOSED—Four
ISSUES
Defiance),
school
Ohio—FOUR SCHOOL
districts
Defiance
in
County
oontemplated school improvements under Works Progress Administration
expenditure of approximately $322,000
special elections. Richland and Farmer
Township already has set the dates for special elections, the Hicksville
School Board has approved submission of a proposal to the voters and the
Highland Township School Board is considering a project.
Richland Township voters will ballot Aug. 28 on an $80,000 plan for
erection of an auditorium-gymnasium at Jewell and Farmer voters on Sept. 8
for a $92,727 project for additions to the auditorium-gymnasium and school.
Hicksville contemplates a $100,000 school building program and Highland
Township's program calls for $50,000.
The WPA set-ups are for the Federal Government to finance 45% and
the districts the remaining 55% of the costs.
set-ups which would involve the
if the voters approve the plans at
FRANKLIN SCHOOL
DISTRICT (P. O.
Franklin), Ohio—BONDS
DEFEATED—At
an election held on Aug. 18, the voters defeated the pro¬
posed issuance of $48,000 in school building bonds, according to the Super¬
intendent of Schools.
PERRY COUNTY (P. O. New Lexington), Ohio—BIDS RECEIVED
—The following is a complete list of the bids received for the
$65,000
poor relief bonds which were awarded on Aug. 12 to Seasongood & Mayer
of Cincinnati:
FREMONT COUNTY (P. O. Sidney),
in 1937 and 1938.
on
June 30 and Dec. 31.
Due $20,000
Dec. 31
on
Printed cetrificates will be furnished by the county.
Ohio—BOND SALE CANCELED—It is stated
by R. M. Blackburn, Village Clerk, that the sale of the $4,000 3% semi-ann.
street improvement bonds, scheduled for Aug. 22—V. 143, p. 961—has
been
canceled.
Dated June 15, 1936.
15, 1936, to June 15, 1946, incl.
Dec.
GROVE
Due $200 each
six months from
CITY,. Ohio—BOND SALE— The
$25,000 sewer and water
bbnds offered for sale on Aug. 15—V. 143, p. 802—were purchased by Grau
& Co. of Cincinnati, as 3>^s, paying a premium of $295, equal to 101.18,
a basis of about 3.14%.
Due $1,000 from April 1, 1938 to 1962.
I
Ohio—BOND
RONTON,
OFFERING—Ralph F. Mittendorf, City
Sept. 9 for the purchase of $6,000 6%
$500.
Dated Oct. 1, 1936.
Prin.
and semi-ann. int. (April 1 and Oct. 1) payable at the First National Bank
of Ironton.
Due $500 yearly on Oct. 1 from 1938 to 1949, incl.
Certified
check for $60, payable to the city, required.
Auditor, will receive bids until
storm
water
sewer
bonds.
11100
149.50
2H%
,2%
2%%
PHILLIPSBURG VILLAGE SCHOOL
136.50
222.00
2%
3%
2%
Cincinnati—
363.00
,253.50
539.85
DISTRICT (P. O. Phillips-
burg), Ohio—BOND OFFERING—Frank Ortman, Clerk of the Board of
Education, will receive bids until noon Sept. 5 for the purchase at not less
than par of $15,000 gymnasium-auditorium construction bonds.
Interest
rate is not to exceed 6%.
Denom. $750.
Dated April 1, 1936.
Intreest
payable annually.
Due $750 each six months from April 1, 1937 to Oct. 1,
1946, incl.
Cert, check for $150, payable to the Clerk of the Board of
Education, required.
PLAIN CITY SCHOOL DISTRICT (P. O.
Plain City), Ohio—BONDS
VOTED—At an election held on Aug. 11, the voters are said to have ap¬
proved the issuance of $90,000 in school building and equipment bonds,
to be is-ued in connection with a Public Work
Administration grant.
SEVILLE, Ohio—BOND SALE—The $6,000 issue of 4% coupon semi¬
Aug. 8—
according
to the Village Clerk.
Dated May 1, 1936.
Due $500 from May 1, 1938
annual water works mortgage revenue bonds offered for sale on
V. 143, p. 802—was purchased at par by the Seville State Bank,
to
1949, inclusive.
SHAKER
Ohio—BOND OFFERING—E. P. Rudolph,
14, for the purchase
Denom. $1,000.
Dated Oct. 1, 1936.
Due $45,000 yearly on Oct. 1 from
Certified check for $5,000, required.
HEIGHTS,
Director of Finance, will receive bids until noon Sept.
of $450,000 3>4% refunding bonds.
Interest payable April 1 and O.ct. 1.
1941 to 1950, incl.
SOUTHEASTERN RURAL SCHOOL DISTRICT (P. O. Chillicothe)
Ohio—BOND SALE—The $25,000 issue of school building bonds offered
for sale
on
Aug. 15,
reported here recently, was awarded to Saunders,
paying a premium of $417.50, equal to
as
Stiver & Co. of Cleveland, as 3J4s,
101.67,
basis of about 3.08%.
Dated July 1, 1936.
months from April 1, 1937 to Oct. 1, 1961, incl.
a
SUMMIT COUNTY (P. O. Akron),
Due $500 each six
Ohio—BOND OFFERING—W. B.
Clerk of the Board of County Commissioners, will receive bids
Sept. 9 for the purchase of $734,000 refunding bonds, to bear
interest at no more than 6%.
Dated Oct. 1, 1936.
Principal and semi¬
annual interest payable at the County Treasurer's office.
Due $146,800
yearly on Oct. 1 from 1941 to 1945. Cert, check for 2% of amount of bonds
bid for, required.
Wynne,
until
noon
TOLEDO, Ohio—BOND OFFERING—Sealed bids will be received until
(Eastern Standard Time) on Sept. 9, by Charles Austin, City Auditor,
refunding bonds aggregating $759,000,
noon
for the purchase of four issues of 3%
divided as follows:
$490,000 park bonds.
,
Due $35,000 from Oct. 1, 1938 to 1951, incl.
1 as follows:
Street extension bonds.
Due on Oct.
1938 to 1949, and $17,000 in 1950.
209,000 Summit
$16,000,
Ohio—CERTIFICATE OFFER¬
GNADENHUTTEN,
2%
2J£%
Perry County Bank, New Lexington
Ryan, Sutherland & Co., Toledo
Braun, Bosworth & Co., Toledo
Weil, Roth & Irving Co., CincinnatiSeasongood & Mayer, Cincinnati (award)
30,000 public comfort station bonds, and $30,000 fire
ING—C. C. Case, County Treasurer, will receive bids until 2 p. m. Aug. 26
payable semi-annually
$464.75
117.00
318.50
2%
2M %
Prudden & Co., ToledoProvident Savings Bank & Trust Co.,
/7'
for the purchase of $40,000 anticipation road certificates of indebtedness.
Denom. $1,000.
Dated Sept. ,1, 1936.
Interest is not to exceed 5%,
Premium
Int. Rate
Name—
Stranahan, Harris & Co., Toledo
Kesel, Goetz & Moerlein, Inc., Cincinnati
Saunders, Stiver & Co., Cleveland
1 and Oct. 1
2,600,000 assessment bonds, series B.
Due $130,000 on April 1 and Oct. 1
in each of the years from 1942 to 1951, inclusive.
Denom. $1,000.
Dated Oct. 1, 1936.
Prin. and semi-annual int.
(April 1 and Oct. 1) payable at the County Treasurer's office.
Bonds are
payable from taxes levied inside limitations.
Redeemable on any interest
payment date on and after Oct. 1,1946.
Certified check for 1 % of amount
of bonds bid for, payable to the County Treasurer, required.
Approving
opinion of Squire, Sanders & Dempsey of Cleveland will be furnished by the
1275
Chronicle
bonds.
and site
station
'
.
Bidders may bid a different rate
in multiples of M of 1 %.
Different rates may be bid for different issues
but split rate bids will not be considered for any single issue.
No bid for
less than par and accrued interest to the date of delivery will be considered.
Bids may be made separately for each issue or for all or none.
Principal and
interest (A. & O.) payable at the Chemical National Bank in New York.
Legality to be approved by Squire, Sanders & Dempsey of Cleveland, at
the purchaser's expense.
A certified check for 1% of the amount of bonds
bid for, payable to the Commissioner of the Treasury, is required.
Denom. $1,000.
Dated Oct. 1, 1936.
UNIVERSITY
HEIGHTS,
Ohio—PROPOSED DEBT LEVY DE¬
FEATED—At a special election held on Aug. 11 the voters are said to have
rejected k proposal that they approve the transfer of a .7 mill debt levy
outside the 10-mill limitation.
The vote is said to have been 237 "opposed"
and 113
"for."
(A similar
noon
proposal was defeated in Cleveland Heights, as noted above.)
Denom.
TOWNSHIP
WOOSTER
DISTRICT
SCHOOL
(P.
O.
Wooster),
Ohio—BOND ELECTION—It is reported that at the regular election to be
held in November the voters will pass on the proposed issuance of $48,000
in school erection bonds.
•
LAKEWOOD CITY SCHOOL DISTRICT
(P. O. Lakewood), Ohio
by Geo. W. Grill, Assistant Superin¬
tendent of the Board of Education, that he will receive sealed bids until
noon (Eastern Standard Time) on
Sept. 14, for the purchase of an issue of
$105,500 3%' refunding bonds.
Denom. $1,000, one for $500.
Dated
Oct. 1, 1936.
Due on Oct. 1 as follows:
$10,000, 1938 to 1943; $9,000,
1944 to 1947, and $9,500 in 1948.
Bidders may bid for a different rate, in
multiples of M of 1%. Prin. and int. (A. & O.) payable in lawful money at
the Cleveland Trust Co., Cleveland, or at the office of the Board of Educa¬
tion.
Bonds to be issued under authority of Section 2293-6 of the General
ode, which became effective on May 25, 1936, and such other sections of
the Uniform Bond Act as may apply to this issue.
The approving opinion
of Squire, Sanders & Dempsey, of Cleveland, will be furnished the pur¬
chaser.
A certified check for 1 % of the amount bid, payable to the Treasurer
of the Board of Education, is required.
—BOND
OFFERING—It
LICKING
COUNTY
is stated
(P.
O.
Newark),
OKLAHOMA
CHELSEA,
Ok la.—BOND ELECTION—The City Council has called
election for Aug. 27 at which a proposal to issue $32,000 water works
bonds will be submitted to the voters.
an
COAL COUNTY (P. O. Colgate), Okla.—BONDS SOLD—It is stated
by the County Clerk that a $66,174 issue of funding bonds has been pur¬
chased by the Piersol
DILL
Bond Co. of Oklahoma City,
5Ms.
as
is stated by the City
Clerk that he will receive sealed bids until Sept. 5, for the purchase of a
$6,000 issue of 5% semi-annual water works system bonds.
Due in 10
years.
These bonds were approved by the voters on Aug. 4.
CITY,
Okla.--BOND
MAYSVILLE
Ohio—BOND OFFERING—
SCHOOL
OFFERING—It
DISTRICT
(P.
O.
Maysville),
Okla.—
Roe E. Morrow, Clerk of the Board of County Commissioners, will receive
BONDS SOLD—It is stated by the District Clerk that the $25,000 school
bids until 10
bonds approved by the voters in March
Honnold of Oklahoma City.
t
Aug. 29 for the purchase at not less than par of $20,500
4% poor relief bonds.
Dated July 1,1936.
Interest payable semi-annually
on Jan. 1 and July 1.
Due March 1 as follows: $2,200, 1937 and 1938;
$2,300, 1939; $2,500, 1940; $2,600, 1941; $2,800, 1942; $2,900, 1943, and
$3,000, 1944.
Cert, check for $500, payable to the Board of County Com¬
missioners, required.
'
,
a.
m.
have been purchased by C. Edgar
.
Okla.—-BOND ELECTION—The voters will be asked
at an election scheduled for Sept. 1 to approve a proposal to issue $17,500
city hall property purchase bonds.
PAWHUSKA,
'
PAWNEE,
LUCAS COUNTY (P. O.
Toledo), Ohio—BOND OFFERING DETAILS
offering scheduled for Aug. 24 of the $137,000 4%
semi-annual refunding bonds, reported in these columns recently—V. 143,
p. 961—it is stated by Adelaide E. Schmitt, Clerk of the Board of County
—In connection with the
Commissioners, that these bonds
about to mature.
Prin.
are
issued to refund
a
like amount which
and int.
an
on
ordinance
Okla.—BOND ELECTION—The City Council has passed
election for Aug. 31 for the purpose of voting
of issuing $28,000 sewer bonds.
calling an
the question
PERRY,
Okla.—BOND OFFERING—The City Council will receive
of $118,000 waterworks bonds recently
bids until Sept. 2 for the purchase
payable at the County Treasurer's
office.
The approving opinion of Squire, Sanders & Dempsey of Cleve¬
land may be obtained by the purchaser at his expense.
voted.
MADISON TOWNSHIP RURAL SCHOOL DISTRICT (P. O. Mans¬
field), Ohio—BOND ELECTION NOT HELD—We are informed by the
Clerk of the Board of Education that the report given in these columns
recently, to the effect that an election would be held on Aug. 18, to vote on
building bonds offered for sale on Aug. 17—V. 143, p. 1124—was awarded to
the First National Bank of El Reno, according to the District Clerk.
are
$48,000 in school building bonds—V. 143,
p.
802—was
erroneous.
UNION
CITY
CONSOLIDATED
(P. O. Union City), Okla.—BOND
SCHOOL
DISTRICT
NO.
57
SALE—The $25,000 issue of school
*
MONTGOMERY COUNTY (P. O. Dayton), Ohio—BOND ELECTION
SCHEDULED—It is reported that an issue of $180,000 sanitarium construc¬
.
tion
bonds
will
be
passed
on
by the voters at
the
general
election
Oregon Municipals
in
November.
NEWTON
FALLS,
Ohio—BONDS AUTHORIZED—An ordinance is
said to have been passed recently by the Village Council providing for the
issuance of $180,000 in not to exceed 6% semi-annual electric light, heat and
power plant bonds.
Denom. $1,000.
Dated Sept. 1, 1936.
Due $6,000
on March and Sept. 1 from 1938 to 1952.
CAMP & CO., INC.
Porter
Building,
NORTH OLMSTED, Ohio—BONDS NOT SOLD—'The two issues of
4H % semi-ann. refunding bonds aggregating $43,980, offered on Aug. 4—■
V. 143, p. 473—were not sold as no bids were received, according to the
Village Clerk.
The issues are divided as follows:
Portland, Oregon
OREGON
,
$31,770 special assessment bonds.
Due from Oct. 1, 1940 to 1950.
12,210 general bonds.
Due from Oct. 1, 1940 to 1950.
OHIO, State of—BRIDGE COMMISSION PURCHASES SPAN FROM
Aug. 5 completed
purchase of the Park-ersburg-Belpre Bridge spanning the Ohio River,
according to report.
It was stated by the Chairman of the above Com¬
mission that Ohio gave $1,250,000 in SH% bridge revenue bonds to the
Parkersburg Community Bridge Co., the former owners.
WEST VIRGINIANS—The State Bridge Commission on
HOOD RIVER COUNTY SCHOOL DISTRICT (P. O. Hood River),
Ore.—BONDS DEFEATED—At the election held on July 2—V. 143, p.
152—the voters defeated the issuance of $37,900 in Cascade Locks school
bonds.
LANE
the
—
COUNTY SCHOOL DISTRICT NO. 84
WARRANT OFFERING—Mrs. Pearl Suter,
(P. O. Eugene), Ore.
District Clerk, will receive
bids until 7 p. m. Aug. 25, for the purchase of $3,500 warrants,
to bear
interest at
no more
than 4%.
Denom. $500.
which are
Financial
1276
POLK COUNTY SCHOOL DISTRICT NO. 30 (P. O. Monmouth,
Route 1), Ore.—BOND OFFERING—Sealed bids will be received until
8 p. m. on Aug. 24, by Gladys Osborn, District Clerk, for the purchase of
issue of $1,500 school bonds.
Interest rate is not to exceed 4H%,
an
1936. Due $300 from
the County Treasurer's
payable F. & A.
Denom. $300.
Dated Aug. 15,
Aug 1 1937 to 1941, incl. Prin. and int. payable at
of the State in New York City. 'A certified
check for $100 must accompany the bid.
office
or
at the fiscal agency
CLACKAMAS COUNTIES JOINT UNION
HIGH SCHOOL DISTRICTS NOS. 9 AND 22 (P. O. Sherwood), Ore.
—BOND OFFERING—It is stated by Floyd C. Shoop, District Clerk, that
he will receive sealed bids until 8 p. m. on Sept. 1 for the purchase of a
$10,000 issue of 3H% school bonds. Denom. $500. Dated Sept. 1, 1936.
Dtle on Sept. 1 as follows: $500, 1940 to 1951, and $1,000, 1952 to 1955,
all incl. Prin. and int. (M. & S.) payable at the County Treasurer's office.
No bid for less than par and accrued interest will be considered.
These
bonds were approved by the voters on Aug. 10.
AND
WASHINGTON
WILLAMINA, Ore.—BOND SALE—It is stated by H. W. Flannery,
City Recorder, that a $16,000 issue of water works system bonds was pur¬
chased jointly on Aug. 17 by Atkinson, Jones & Co. and Merton R. De Long,
both of Portland, as 4^s at a price of 96.26, a basis of about 4.80%.
Denom. $1,000.
Dated Aug. 1, 1936.
Due $1,000 from Aug. 1, 1938 to
1953, inc
Prin. and int. (F. & A.) payable at the City Treasurer's office
.
Date
July 21
To Net
Moncure Biddle & Co.
Philadelphia
Locust Street
1520
67,000
July 23
School District, Bradford County
—Refunding bonded indebtedness
Ellwood City Borough, Lawrence County—Construct¬
52,000
Towanda Borough
ing a muncipal building.
_*
Jennerstown Borough, Somerset County—Reconstruction and permanent improvement of highway
July 23
1,600
July 23
25,000
July 24
30,000
July 29
7,500
July 29
Mayfield Borough School District, Lackawanna Co.—
Payment of operating expenses..
Clifton Heights Borough, Delaware County—Funding
'37,000
floating indebtedness $8,106.56; complete construc¬
of Borough Hall, construction of trunk line
and highway improvements $21,893.44—__
Yoder Township, Cambria County—Funding
tion
se vers
Lower
floating indebtedness, $4,500; purchase materials
road projects,
for
building culvert, $3,000
Zelienople Borough School District, Butler County—
Altering high school
building, erecting addition
-----
-
Columbia County—
County—Refunding bonded indebtedness
Prospect Park Borough, Delaware County—Public
improvements; acquisition by purchase of lands for
public park and playground
West Pottsgrove Township, Montgomery County—
Funding floating indebtedness
Swoyerville Borough School District, Luzerne County
—Construction of school buildings in the Borough
2.85%
177,000
July 22
bonded indebtedness
Acquire site and grounds for school buildings; erect,
equip and furnish new buildings
Upper Merion Township School District, Montgomery
4/i% Bonds due February 27, 1981/51
$25,000
July 22
purposes
Springfield Township, Delaware County—Refunding
thereto.
Price:
Approved Amount
Municipality and Purpose—
Hill
Borough,
Delaware County—Sewers,
highway improvements and other borough purposes;
repay general fund for moneys advanced for said
Sharon
Beaver Township School District,
City of Philadelphia
1936
22,
Aug.
Chronicle
July 30
20,000
July 31
55,000
,
July 31
4
$19,000
Aug.
4
40,000
Aug.
of Swoyerville
30,000
Aug.
6
Towamencin Township School District, Montgomery
County—Funding floating indebtedness in the sum
of $15,000 and making improvements; also erecting
eauipping and furnishing an addition to present
PENNSYLVANIA
CLEARFIELD
COUNTY
(P.
O.
Clearfield),
Pa.—BOND
SALE—
The $245,000 coupon refunding bonds offered on Aug. 19—V. 143, p. 962—
awarded to the Bancamerica-Blair Corp. and the First Boston Corp.
of New York on a bid of 100.505 for 2s, a basis of about 1.91%.
Dated
were
Sept. 1, 1936.
Due $25,000 yearly from 1938 to 1942, and $30,000 yearly
Other bidders included:
from 1943 to 1946.
Name—
Int. Rate
Bid
Phelps, Fenn & Co., New York, and E. W. Clark & Co.,
Philadelphia
2 K%
Graham, Parsons & Co., Philadelphia, and Dougherty,
Corkran & Co., Philadelphia
2H%
Singer, Deane & Scribner, Philadelphia.
2M%
101.28
school
Aug. 13—V. 143, p. 962—was awarded to Singer, Deane & Scribner, of
Pittsburgh, as 4s, paying a premium of $82.50, equal to 101.178, a basis of
about 3.80%.
Dated Aug. 1, 1936.
Due from Aug. 1, 1939 to 1945.
(D. S. T.)
on Sept. 4, by Howard W. Satterthwaite, District Secretary, for the
pur¬
chase of a $31,000 issue of 2H, 2%, 3, 3K. 3J^, 3% or 4% coupon or regis¬
tered school bonds.
Denom. $1,000.
Dated Oct. 1, 1936.
Due on Oct. 1
as follows:
$2,000, 1937 and 1938, and $3,000, 1939 to 1947 incl.
Interest
payable A. & O.
Bids will be received for the entire issue at any of the
above rates of interest but no bid combining two different rates will be
accepted.
The bonds are issued subject to the approval of the Depart¬
ment of Internal Affairs.
The bonds will not be sold for less than par and
accrued interest.
A certified check for 2% of the bonds bid for, payable to
the District Treasurer, is required.
HAZLETON
SCHOOL
DISTRICT, Pa .—BOND OFFERING—D. T.
Evans, District Secretary, will receive bids until 8 p. m. Sept. 1 for the
purchase of $250,000 coupon bonds.
Bidders are to name rate of interest,
making choice from 2M %, 2 M %. 3 %, 3 H %. 3 X % and 3 M %. Denom.
$1,000.
Interest payable March 1 and Sept. 1.
Due as follows: $10,000,
1937; $15,000, 1938; $20,000, 1939, 1940 and 1941; $25,000, 1942; $50,000,
1943; $30,000, 1944, 1945 and 1946. Certified check for 2% required.
McKEESPORT, Pa.—BOND OFFERING—It is reported that sealed bids
will be received until Sept. 14 by the City Comptroller for the purchase of a
$400,000 issue of 2j^% semi-annual improvement bonds.
Dated Sept. 1,
1936.
Due $20,000 from Sept. 1, 1937 to 1956, incl.
These bonds were
approved by the voters at the general election in 1935.
NORTH VERSAILLES TOWNSHIP SCHOOL DISTRICT (PTTT.
McKeespor.t), Pa.—BOND OFFERING—Sealed bids will be received until
w
7:30
p. m. (Daylight Saving Time) on Sept. 4 by A. L. Black, District
Secretary, for the purchase of a $20,000 issue of coupon school bonds.
rate is not to exceed 4K%, payable M. & S.
Denom. $1,000.
Dated Sept. 1, 1936., Due on Sept. 1 as follows: $3,000, 1944 to 1946*
$2,000, 1947 to 1951, and $1,000 in 1952.
Interest rate to be stated in
multiples of
of 1%.
The sale of these bonds is subject to the approval
of the Department of Internal Affairs.
The approving opinion of Burgwin
Scully & Churchill of Pittsburgh will be furnished the purchaser.
A certi¬
fied check for $500, payable, to George A. Todd, District Treasurer, must
accompany the bid.
Interest
"
^
NORTHUMBERLAND.
'*
•
Pa.—BONDS
-■
SOLD—Ot
bids were received.
no
Frank Mather issued the following statement announcing the postponement
the offering of $45,000,000 tax anticipation notes, series BT, from
Aug. 19—V. 143, p. 1124—to Sept. 1:
"Complying with the request of several prospective bidders it was con¬
cluded at our meeting today to postpone the opening of bids for the $45,000,000 series BT, Commonwealth of Pennsylvania tax anticipation notes,
until noon on Sept. 1, 1936, in the office of the Governor."
Treasurer Waters said that between 40 and 50 bids had been received
but that they will not be opened until Sept. 1.
As the result of the post¬
ponement, the settlement date has been advanced from Sept. 15 to Sept. 28
one
exception.
The terms of the
note
offering will be unchanged.
The directors of the Poor of Jenkins Twp., Pittston
Boro. (now Pittston City) & Pittston Twp., Luzerne
&
Lackawanna
Counties—Refunding
debtedness.
bonded
in-
,.
1936
Aug. 10
287,000
25,000
expenses-
Aug. 11
45,000
SCHOOL
WASHINGTON
Ella
R.
Stewart,
DISTRICT,
Pa .—BOND OFFERING—
School Board, will receive bids until
Secretary of the
7:30 p. m. Aug. 24 for the purchase of $68,000 2
Dated Sept. 1, 1936.
Due as follows: $2,000,
H % bonds. Denom. $1,000.
1945 and 1946; $4,000, 1947
$5,000, 1949 and 1950; $6,000, 1951 and 1952; $8,000, 1953 and
1954, and $9,000, 1955 and 1956.
Certified check for $1,000 required.
and 1948;
ISLAND
RHODE
WSTERLY.R.I.—NOTE OFFERING—James M.Pendleton,Town Treas¬
urer, will receive bids until 11 a. m. (Daylight Saving Time) Aug. 26 for
the purchase at discount of $100,000 tax anticipation temporary loan notes,
dated Aug. 26, 1936 and maturing Nov. 10, 1936.
Notes will be in follow¬
ing denominations: 2 for $25,000, 4 for $10,000 and 2 for $5,000.
The notes
will be ready for delivery on or about Aug. 27 at the First National Bank or
Boston, 17 Court Street office, Boston, for Boston funds.
Said notes will
be authenticated as to genuineness and validity by the First National Bank
of Boston under, advice of Storey, Thorndike, Palmer & Dodge, and all
legal papers incident to this issue will be filed with said bank, where they
may be inspected.
,
1935
1934
1933
.
^
$431,172:47 $432,367.23 $430,113.90
6,080.85
3,856.52
2,555.04
Tax levy
Uncollected Aug. 19, 1936
,000 City of Charlestown, So. Car.
3% water bonds due Sept. 1, 1965 to 1972 inc.
at par when issued
McALISTER, SMITH & PATE, Inc.
67
BROAD
NEW YORK
STREET
Telephone
GREENVILLE,
WHItehall 4 6765
CHARLESTON, S. C.
C.
S.
SOUTH
,
CAROLINA
BERKELEY-COLLETON-DORCHESTER
HIGHWAY
DISTRICT,
(P. O. Walterboro), S. C —BOND SALE—The $234,000 issue of highway
on Aug. 19—V. 143, p. 963—was awarded to Edward
B. Smith & Co. of New York, and McAlister, Smith & Pate, Inc., of
Greenville, S. C., as 2?is, paying a premium of $608, equal to 100.259,
a basis of about 2.723%.
Dated Aug. 1, 1936.
Due from Feb. 1, 1943
bonds offered for sale
to
1952 incl.
highest bid is reported to have been an offer of $1,970.51
3s, tendered by R. S. Dickson & Co. of Charlotte, N. C.
The second
premium
on
CHARLESTON,
S.
C.—PUBLIC
OFFERING
OF
BONDS—Public
offering of a new issue of $1,000,000 City of Charleston. S. C., 3% water
works extension bonds is being made by Edward B. Smith & Co., Lazard
Freres & Co., Inc., and McAlister, Smith & Pate, Inc.
The bonds are
to be dated
Sept. 1, 1936 and will mature from Sept. 1, 1940 to 1976, incl.
priced to yield from 2.00% to 3.00%, according to maturity.
City of Charles¬
ton, S. C., in the opinion of counsel, payable from ad valorem taxes to be
levied against all taxable property therein, without limitation as to rate or
amount.
In addition, these bonds are further secured by an irrevocable
They
are
The bonds will be valid and legally binding obligations of the
exempt from all present Federal income taxes.
It is stated that the above bonds mature
on
Sept. 1
as
follows: $25,000,
1940 to 1946; $30,000, 1947 to 1950; $25,000, 1951 to 1953; $35,000,
1964, and $25,000, 1965 to 1976, all inclusive.
1954
to
Aug. 11
18,000
PENNSYLVANIA
(State / of)—LOCAL
ISSUES
APPROVED—The
following is the latest list of bond issues approved by the Department of
Internal Affairs, Bureau of Municipal Affairs.
The data includes the
name of the municipality, amount and purpose of issue and date of
approval:
.
ah coupons attached.
County—Refunding
Dale Borough School District, Cambria—Payment of
operating
1946.
DISTRICT (P. O. Bridge¬
port, R. D.), Pa.—BOND CALL—It is reported that bonds numbered 46 to
100 of the 5% school bond issue of 1921 are being called for payment at par
and accrued interest, on Sept. 1, on which date interest shall cease.
These
bonds are payable at the Bridgeport National Bank, Bridgeport, Pa., with
UPPER MERION TOWNSHIP SCHOOL
are
Aug. 10
bonded indebtedness
semi-
Sledge to establish andtax free in the State of South Carolinaservice water
onds.
The bonds
maintain water rates necessary to and interest-
Plains Twp. School District, Luzerne County—Erect,
equip, and furnish addition to school building; repair
and repaint school building.
Archbald Borough, Lackawanna
Aug. 29 for the purchase of $51,000 school bonds. Bidders
rate of interest, making choice from 2 M %, 2 % %, 3 %>,3 H %>.
m.
p.
3H%, 3H%, 4%, 4H% and 5%. Denom. $1,000. Interest payable
annually. Due on Aug. 1 as follows: $6,000, 1937, and $5,000, 1938 to
Certified check for 5% required.
■ .
fire apparatus
bonds offered on Aug. 14—V. 143, p. 474—were awarded to the Interboro
Bank & Trust Co. of Prospect Park on a bid of 101 for 3s, a basis of about
2.93%.
Dated Aug. 10, 1936.
Due Aug. 1, 1956.
with this
Secretary of the Board of School Directors,
Gombar,
coupon
of
OFFERING—Stephen
will receive bids
Pa.—BOND
DISTRICT,
SCHOOL
THROOP
E.
until 8
■"%
ot)—NOTE OFFERING POSTPONED TO
SEPT. 1—On Aug. 19 State Treasurer Charles A. Waters and Robert L.
Myers Jr., Secretary to Governor Earle, and Deputy Auditor General
waterdisposed of,
RICHLANDTOWN, Pa .—BONDS NOT SOLD—'The $21,700 3%
the
(State
mind for spending
bonds offered for sale on March 9-—V. 142, p. 1161—were not
as
thereafter.
PENNSYLVANIA
136,000
the money.-
$55,000 4%
coupon bonds offered on Aug. 18 the borough awarded a block of $25,000
to the Northumberland National Bank of Northumberland, at a price of 105,
a basis of about 3.20%.
This was the only bid received in response to the
request for offers on $25,000 bonds.
Leach Bros., Inc., of Philadelphia,
bid 107.13 for the entire issue, all or none.
The issue is dated Oct. 1, 1936.
The bonds awarded will mature as follows: $1,000, 1937, and $2,000 yearly
from 1938 to 1949.
The balance of the issue comes due $2,000 yearly
NORWOOD, Pa.—BOND SALE—The $10,000
7
PITTSBURGH, Pa .—BOND PROPOSAL VETOED—Leslie M. Johnston,
Deputy Mayor, is said to have vetoed the City Council's ordinance provid¬
ing for the submission to the voters of a $5,000,000 issue of Works Progress
Administration project bonds at the November election.
It was pointed
out in the veto that the desired ordinance was entirely too general and
are to name
Fallsington), Pa.—
BOND OFFERING—Sealed bids will be received until 7 p. m.
45,000
„
Aug.
ing indebtedness
neglected to specify any plan the Council may have in
100.70
100.67
ECONOMY TOWNSHIP SCHOOL DISTRICT (P. O. Beaver), Pa.—
BOND SALE—The $7,000 issue of coupon school bonds offered for sale on
FALLS TOWNSHIP SCHOOL DISTRICT (P. O.
Centre County—Funding float-
Bellefonte Borough,
(The report of sale
V. 143, p. 1125.)
SOUTH
on
these bonds was given in these columns recently—
CAROLINA
•
-
.
.
■
„
(State of)—BONDS OFFERED PUBLICLY—
Goldman, Sachs & Co. and Eldredge & Co., Inc., are offering $330,000
State of South Carolina 4% institutional bonds due July 1, 1947-1963, incl.
Volume
143
Financial
The bonds are priced to yield 2.70 to
the opinion of the bankers the bonds
are
New York, Massachusetts, South
Chronicle
Carolina
and
The
certain
other
1937 to 1940,
$6,000 from 1941 to 1944.
CLEVELAND, Texas—BOND
MOUNT
an
in
ELECTION—The City Council recently
resolution calling a special election to be held on
Aug. 25 for the
issuing $58,000 water works improve¬
_
purchased and
143,
p.
475.
TEXARKANA,
Texaa—BOND SALE—The $1,200,000 issue of 5%
on Aug. 18—V.
143,
1125—was purchased jointly by Geo. L. Simpson & Co. and H. C.
Burt
Co., both of Dallas, at a price of 92.26, a basis of about 5.97%. Dated
July 27, 1936. Due from March 15, 1939 to 1952.
KNOXVILLE,
Tenn.—WARRANTS CALLED—It.
Rex
Wallace,
Finance, is said to have called for redemption on Aug. 15
all outstanding
warrants, issued and dated from Sept. 30, 1934, to Dec.
31, 1934.
Said warrants will be paid with accrued interest at
semi-ann. gas system revenue bonds offered for sale
of
p.
&
the office
City Treasurer.
LOUDON
Interest
ceases
30
days from Aug.
15.
TEXAS, State of—PROPERTY TAX UNCHANGED—The
COUNTY
automatic
an ad valorem State tax rate of 62 cents for the
There was no change either in the total rate or its
component parts from last year.
The constitutional maximums of 35 cents
for general revenue and seven cents for
Confederate pensions were retained
as was the 20 cent rate for the
available school fund.
(P. O. Loudon), Tenn.—BOND SALE—It is
reported that $44,000 4% semi-annual school and court
house bonds have
been purchased
jointly by O. H. Little & Co. of Jackson and W. N. Estes
& Co. of Nashville for a
premium of $2,500, equal to 105.68.
•
tax
TIMPSON, Texas—BOND SALE DETAILS—It is stated by the City
Secretary that the $25,000 electric light and power plant refunding bonds
■
purchased by H. C. Burt & Co. of Houston, as noted here
recently—V. 143,
1125—bear interest at 4M% and mature as follows: $1,000, 1937 to
1940; $2,000, 1941 to 1949, and $3,000 in 1950.
on which was given here recently—V. 143,
Financial Statement (As of July 1, 1936)
Real and personal
property owned by the city
True value of real and personal
property in the municipality
-
p.
$31,000,000.00
OFFERINGS
250,000,000.00
_
Assessed valuation of property for 1935-Bonded debt, including these issues
P. W. A. bonds
UTAH—IDAHO—NEVADA—MONTANA—WYOMING
17,323,000.00
w
•
Street impt. & sidewalk
bonds, incl. above,
for which adequate
special assessments
FIRST SECURITY TRUST CO.
SALT LAKE CITY
465,000.00
Phone Wasatch 3221
notes
of
1933, P. W. A
Park bonds (Ch. 426, Private Acts of
1927)
1,866,000.00
995,000.00
.
GRAND COUNTY (P. O.
7'116'QQ0-0Q
Net bonded debt-
$10,207,000.00
Sinking fund (cash)
Sinking fund investments
$376,502.16
132,768.27
436,350.00
Loans to other funds
945 620.43
a
$320,000, after paying for ordinary
ing fund; and in addition, furnished free water for
municipal purposes, the
value of which is estimated at $100,000.
The present City of Nashville was first
incorporated as Nashville 1784;
incorporated as Town of Nashville, 1801; and was incorporated as the
City
of Nashville, 1848.
There has never been any default or
compromise in the payment of any
of the city's obligations, nor has
any previous issue of bonds or notes been
There is no controversy or
litigation pending
or
municipality.
or
threatened
con¬
the corporate existence or boundaries
There is no political district or sub-division
any part of which is within the
limits of Nashville, except Davidson County.
Authority for the issuance
of the bonds now offered is to be found in the
City Charter, being
Chapter
125 of the Private Acts of 1923, as
amended, and ordinances of the City
Council.
TEXAS BONDS
Bought —_Sold
—
is stated
.
net revenue for the year of
1935 of
improvements and deductions for sink¬
cerning the validity of these bonds
UTAH
Moab), Utah—BONDS SOLD—It
by the County Clerk that $30,000 court house bonds approved by the voters
at an election held on Aug. 7, were purchased
by Edward L. Burton & Co.
of Silt Lake City.
1
VERMONT
Population (Government Census, 1930), 153,866.
contested.
Bell Teletype: SL K-37
250,000.00
building and improvement bonds
Tax rate (1936), 22 mills.
The municipal water works earned
MUNICIPALS
,
$3,184,000.00
280,000.00
76,000.00
have been levied--
building and improvement
(Chapter 224, Private Acts of 1925)
WANTED
-153,503,576.00
$13,383,000.00
3,940,000.00
Less—Water works bonds, incl. above
Waterworks bondsincl. above, P. W. A
Electric light bonds, incl. above—
School
board recently fixed
next year, it is said.
NASHVILLE, Tenn.—FINANCIAL STATEMENT—'The following
information Is furnished in connection with the
offering scheduled for Aug.
25, of the two issues of not to exceed
6% semi-annual coupon bonds,
aggregating $140,000, report
& Co. of Dallas have
are now
offering to investors at prices to yield from 1.50% to
to maturity, an issue of $200,000
3M% and 4% sewer
improvement revenue refunding bonds.
Denom. $1,000.
Dated Aug. 1,
1936.
Principal and semi-annual interest (Feb. 1 and Aug. 1) payable at
the City Treasurer's office or at the
Central Hanover Bank & Trust Co.,
in New York, at holder's
option.
Bonds bearing 3M % interest mature on
Aug. 1 as follows: $5,000, 1937; $6,000, 1938 to 1941;
$7,000, 1942 to 1945,
and $8,000, 1946; bonds
bearing 4% interest come due Aug. 1 as follows:
$8,000,1947 to 1949; $9,000, 1950 and 1951; $10,000,1952 to
1954; $11,000,
1955 and 1956; $12,000, 1957 and
1958; $13,000, 1959, and $4,000, 1960.
Bonds were approved by the
voters, and are payable from and secured by an
exclusive first lien on and pledge of revenues of the
city's water works and
sewer systems after deductions of
operating and maintenance expense.
3.70%, according
JACKSON, Tenn.—BOND ELECTION NOT SCHEDULED-Tt is
stated by Mayor A. B. Foust that
no election
has been held as yet to
have the voters pass on the
proposed issuance of $575,000 in electric power
distribution bonds, mentioned In these columns in
July—Y.
4s at par and mature on July
as
TERRELL, Tex.—BOND SALE—Beckett, Gilbert
COOKEVILLE, Tenn.—BOND OFFERING— Sealed bids will be re¬
ceived until 1 p. m. on
Sept. 1 by J. E. Owen, City Clerk, for the purchase
of an $18,000 issue of
5% semi-annual water extension bonds.
Denom.
$1,000.
Due $2,000 from April 1, 1937 to
1945, incl.
These bonds are
said to be general obligations of the
city and will not be sold for less than
par and accrued interest.
of the
ELECTION—It is reported that
Aug. 25 in order to vote on the issuance of $49,000
to take up a like amount of
interest-bearing time war¬
here recently—V. 143,
p. 963—were sold
15, 1966.
project.
School
refunding bonds
SWEETWATER RURAL SCHOOL DISTRICT (P. O. Sweetwater).
Texas—BOND SALE DETAILS—It is now reported that the
$50,000 school
building bonds purchased by the State Department of Education, noted
TENNESSEE
,
future.
ODESSA SCHOOL DISTRICT
(P. O. Odessa), Texas—PRICE PAID
BRADLEY COUNTY (P. O.
Cleveland), Tenn.—BOND ELECTION—
The County Court is said to have
passed a resolution calling for an election
on Sept.
17, to have the voters pass on the issuance of $50,000 in school
addition bonds, to be used on a PWA
'
near
on
—It is reported by the
Superintendent of Schools that the $85,000 school
bonds purchased
by the State of Texas as 3Ms, as noted here in July—
V. 143, p. 475—were sold at
par.
Due from Feb. 15, 1937 to 1951; callable
after Feb. 15, 1941.
WINNER, S. Dak.-—BOND
(estimated)
the
PLEASANT, Texas—BOND
election will be held
rants.
1940, incl.
of the
be offered for sale in
to
—V. 143, p. 963—was
purchased by M. J. Higgins of Sioux City, Iowa, at
4M%> according to the District Clerk. Due $500
annually from 1937 to
Director
stated
GILMER, Texas—It is stated by Ma^or H. V. Davis that the,$100,000
4M% street paving bonds approved by the voters on Nov. 26,
1935, are
special election
proposal to issue $25,000
SIOUX POINT SCHOOL DISTRICT NO. 7
(P. O. Elk Point), S. Dak.
—BOND SALE—The $2,000 issue of
school bonds offered for sale on Aug. 17
bonds.
Quoted
BENNINGTON COUNTY (P.' O. Bennington), Vt.—BOND SALE—The $50,000 issue of coupon court house and jail bonds offered for sale on
Aug. 20 was awarded to Jackson Curtis of Boston, as 2s, paying a price
of 100.533,
a
basis of about 1.895%.
Dated June 1, 1936. Due $5,000
from June 1, 1937 to 1946, incl.
The second highest bid was an offer of 100.1897 on 2s, submitted
by
Webster, Kennedy & Co. of New York. Third high was a tender of 100.482
for 2Ms. submitted by L. S. Carter & Co. of New York.
Mansfield & Co.
of Hartford offered 100.358 for 2Ms. while Arnold,
Scully,. Jenks, Wynne
& Co. of Burlington. Vt., offered 100.18 for
2Ms.
MIDDLEBURY
FIRE
DISTRICT
NO.
1
(P.
O.
—BOND
Middlebury), Vt.
OFFERING-—Leslie E. Day, District Treasurer, will receive bids
until 4 p. m. (Eastern Standard Time), Aug. 28, for the
purchase at not
less than par of $18,000 coupon water bonds.
Bidders are to name rate of
interest,
multiple of
M%.
Denom. $1,000.
Dated Aug. 1, 1936.
1) payable at the
Boston, in Boston, or at the National Bank of
Middlebury, in Middlebury.
Due $1,000 yearly on Aug. 1 from 1939 to
1956, incl.
These bonds will be valid general obligations of Fire District
No. 1 in Middlebury, and all taxable property of the district will be
subject
to the levy of unlimited ad valorem taxes to
pay both principal and int.
They will be engraved under the supervision of and authenticated as to
genuineness by the First National Bank of, Boston; their legality will be
approved by Ropes, Gray, Boyden & Perkins, whose opinion will be
furnished the purchaser.
Bonds will be delivered to the purchaser on or
about September y at the First National Bank of Boston, 17 Court St.
office,
in
a
Principal and semi-annual interest (Feb. 1 and Aug.
First
National
Bank
of
Boston.
,
Financial Statement, Aug. 1, 1936
H. C. BURT & COMPANY
Assessed valuation 1935
Total bonded debt of the town (fire district has
Water bonds (included in total debt)
Incorporated
*
Sterling Building
Houston, Texas
*
COUNTY
(P.
O.
Angleton),
Tex.—BOND
M. C. D. Stratton, County Treasurer, is
calling for payment
on which date int. shall cease, the
following bonds:
4% road and bridge bonds.
in 5 years.
5% road and bridge bonds.
on
in 5 years.
All bonds of the above issues may
Population of the town, 3,000.
VIRGINIA
CLINTWOOD, Va.—BOND SALE DETAILS—It is now reported
by
the Town Clerk that the $10,000 water system bonds
reported to have been
sold—V. 143, p. 1126—were purchased by the Cumberland
Bank & Trust
Co. of Clintwood, as 5s at par, and mature on
July 1
to 1946, and
$1,000, 1947 to 1951.
as
follows:
$500, 1937
NEWPORT
Sept. 20.
1913, due in 1953, optional
be presented to the State Treasurer's
office for redemption, on the date called.
Of the total amount
called, the
county will pay off all but $4,000, which will be refunded into $20,000
2% %
None
16,000
CALL—
Dated April 10, 1911, due in 1951,
optional
Dated Oct. 10,
bonded debt)
To be refunded from the proceeds of the sale of these bonds.
Population of the district, 300.
BENAVIDES INDEPENDENT SCHOOL
DISTRICT
(P. O. Benavides), Tex.—BOND SALE CONTEMPLATED—The district is said to
be
planning to offer for sale about Aug. 25, an issue of $80,000 school
construc¬
tion bonds approved recently by the
Attorney General.
no
$84,300
36,000
Outstanding notes of the fire district
TEXAS
BRAZORIA
ng
Dak.—BOND
EUREKA INDEPENDENT SCHOOL
DISTRICT, S.
ELECTION—The Board of Education has ordered that a
a
is
Denom.
Aug. 29 for the purchase at not less'than
par of $9,000 5% bonds.
Int. payable
semi-annually.
$500.
ment
CANCELED—It
GEORGETOWN, Tex.—BOND SALE—The City Council on Aug. 15
accepted the bid of Gregory, Eddleman & Co. of
Houston, for the purchase
of $55,000
3% revenue bonds at a price of 100.32.
It is said that these
bonds, which will be used for improvements to the water and
light plant,
mature in 10 years.
CLEGHORN SCHOOL DISTRICT NO.
22, S. Dak.—BOND OFFER¬
ING—Albert R. Schamber, District
Clerk, will receive bids until 7.30 p. m.
passed
ELECTION
FORT WORTH, Texas—BOND
SALE—It is stated by Henry Keller,
City Secretary, that $29,000 airport bonds have been
purchased recently
by Donald O'Neill & Co. of Dallas as 3
Ms.
Due from Aug. 1,1937 to 1942.
DAKOTA
purpose of voting on the question of
bonds, matur
by the City Secretary that the election which was scheduled for
Aug. 11 to
vote on the issuance of
the $90,000 in water works purchase and sewer
system
bonds, as noted here—Y. 143, p. 963—was
recalled, pending a Public Works
Administration allotment.
BURKE INDEPENDENT SCHOOL
DISTRICT, S. Dak.—BONDS
VOTED—A proposition to issue
$27,000 school building bonds was approved
by the voters at a recent election.
be called Sept. 1 for the
purpose of votong on a
school building bonds.
and $24,000 3%
States.
bonds, issued for State hospital purposes, are
payable in the first
instance from gross receipts from licenses
and taxes levied on manufacture
or sale of electrical
power, but are direct and unconditional obligations of the
State of South Carolina.
SOUTH
1277
bonds maturing
$5,000,
3.15%, according to maturity
In
legal investment for savings banks in
is
NEWS, Va .—BONDS AUTHORJZED—The City Council
reported to have authorized the issuance of $40,000 in harbor
dredging
bonds.
NEWPORT
an
issue of
NEWS, Va.—BOND SALE—Local banks recently purchased
$68,000 street paving bonds.
RICHMOND,
is stated
annex
Va.—ANNEXATION ORDINANCE DEFEATED—It
by Landon B. Edwards, City Comptroller, that the ordinance to
areas of Chesterfield and Henrico
to the above city, lost by a
the
1278
Financial
single vote when it came before the members of the Board of Aldermen on
Aug. 11. The bonded debt limit of the city would have been increased by
a margin of $2,880,000 if the proposal had been adopted.
VIRGINIA, State of—GOVERNOR REPORTS GENERAL FUND OF
$564,821—-Virginia started the 1937-1938 fiscal year with a surplus of
$564,821 in the general fund, Governor George C. Peery announced after
receiving final reports for the year.
In so doing, the Commonwealth had wiped out a general fund deficit of
$1,726,806, had restored salary cuts to State employees and had substan¬
tially reduced the public debt.
Total State revenues, the Governor said, were $62,960,507—an increase
of $3,464,728 over the previous fiscal period.
It was the largest income
in the history of the State.
Total expenditures were set at $60,705,930,
an increase over the previous figure or $3,749,563.
Total genera] fund receipts were $20,819,758 and withdrawals from the
fund, which does not include segregated moneys such as the gasoline tax,
were $17,777,023, leaving a general fund excess, of income over expenses
of $3,042,734.
v
Alcoholic beverage control board profits increased $1,274,342 to a total
of
$3,555,546.
Chronicle
LOAN DETAILS ISSUED—The "Canada Gazette" on Aug. 7 contained
particulars of Dominion Government loans to Western Provinces totaling
more than $8,500,000 approved in orders in council dated July 23.
Manitoba got $180,000 for its share of direct relief expenditures.
A loan of $6,622,139 went to Saskatchewan for renewal of loans maturing
May 2, 7, 23 and 27, and June 1 and 7.
It also got $562,000 for its share
of direct relief.
A loan of $500,000 went to Alberta
Columbia got
British
NORTHWESTERN MUNICIPALS
—
Oregon
—
Idaho
—
Montana *
as a
renewal of
a
loan maturing Aug. 1.
$90jg,000 for its share, of a public works program.
EDMONTON,
Alta.—COURT
RULES
CITY CANNOT ACCEPT
quote in part as follows from a
"PROSPERITY CERTIFICATES"—We
Canadian press dispatch out of Edmonton to the Toronto "Globe" of
Aug. 14:
Restraining the City of Edmonton from accepting or undertaking to
accept "prosperity certificates" from the Alberta Government; an interim
injunction
Washington
Aug. 22, 1936
$34,500,000,
as
against $33,665,000.
Special expenditures, in¬
cluding relief projects and Canadian National Rys. deficit, amounted to
a little over $40,000,000 for the four months, as against $32,500,000; while
loans and advances showed an increase of about $7,000,000.
over
was
granted here today by Mr. Justice T. M. Tweedie of the
Alberta Supreme Qourt.
Ronald Hannan Watson, Edmonton mining engineer, "suing on his own
behalf as well as other burgesses of the city," asked for the injunction in a
statement of claim.
Defendants named were Major J. Clarke of Edmonton,
City Clerk Alfred Russell,
General of the Province.
and Hon. J. W.
Hugill, K.C.,
as
Attorney-
Halts Government Deal
"The City
Ferris & Hardgrove
SPOKANE
SEATTLE
Teletype—SPO 176
of Edmonton accepts or undertakes to accept 'prosperity certificates' from
the Government or from any other person or persons until the trial of this
PORTLAND
Teletype—SEAT 191 Teletype—PTLD ORE 160
WASHINGTON
TEKOA, Wash.—BOND SALE DETAILS—The Tekoa State Bank, of
Tekoa, purchasers on Aug. 8 of $5,000 coupon street improvement bonds—
4s.
Bonds are coupon in form, in denomina¬
$600.
Interest payable Jan. and July.
Due
serially from 1937 to 1946.
V. 143, p. 1126—paid par for
tions of $100, $200, $500 and
WHITMAN COUNTY SCHOOL DISTRICT NO. 1 (P. O. Colfax),
Wash.—BOND SALE—The $32,000 issue of coupon school bonds offered
for sale
Aug. 15—V. 143, p. 964-—was awarded to
of Spokane for a premium of $118, equal to 100.368, on
as follows: $10,000 as 2 %&and $22,000 as 3 ^s.
The next
offer of $80 premium on 3>^ % bonds, submitted by the
on
Richards & Blum
the bonds divided
highest bid was an
Tekoa State Bank
of Tekoa.
WISCONSIN
KENOSHA,
Wis.—BOND
OFFERING—A.
E.
Axtell,
Director of
Finance, will receive bids until 2 p. m. Sept. 4 for the purchase of the
following school refunding bonds:
$12,000 bonds, series of 1928
15,000 bonds, second series of 1923.
urer's
office.
Bidders are to name rate of interest, not to exceed 4%.
Certified check for $500, payable
city, required.
Legality approved by Chapman & Cutler of Chi¬
City will furnish the completed bonds.
LA
CROSSE, Wis.—BOND OFFERING—Sealed bids will be received
until 2 p. m. (Central Standard Time) on Aug. 31 by Fred L, Kramer,
City Clerk, for the purchase of a $300,000 issue of sewage disposal plant
bonds.
Interest rate is not to exceed 3%, payable M. & S.
Denom.
$1,000.
Dated Sept. 1, 1936.
Due $30,000 from Sept. 1, 1937 to 1946,
incl.
Rate of interest to be stated in multiples of H of
1%. Prin. and
int. payable at the City Treasurer's office.
The successful bidder will be
required to furnish the printed bonds.
These bonds are issued subject to
the favorable opinion of Chapman & Cutler of Chicago, which will be fur¬
nished to the successful bidder.
A certified check for 2%, payable to the
City Treasurer, must accompany the bid.
MANAWA UNION FREE HIGH SCHOOL DISTRICT, Wis.—BONDS
VOTED—At a recent election the district approved a proposal to issue
MARINETTE, Wis.-—BONDS SOLD—It is reported by the County
Clerk that the $350,000 highway bonds authorized at the primary
April 7,
on
as
election
noted here, have been sold.
OCONOMOWOC SCHOOL DISTRICT
(P. O. Oconomowoc), Wis.
—BOND ELECTION—It is stated by R. T. Jones, District Clerk, that an
election will be held on Aug. 25 in order to vote on the issuance of $160,000
in high school addition bonds.
p.
$55,000. Worth of Script
'
According to the offer, the city would purchase $55,000 worth of
cer¬
tificates with the cash grant.
The Province would give the city an addi¬
tional $30,000 in certificates, which Edmonton would guarantee to keep
in circulation for the nest two years, or, in effect, until the certificates had
expired.
LA PRAIRIE, Que.—"-BOND SALE—The $36,000 issue of 4% semi-ann.
improvement bonds offered for slae on June 22—V. 142, p. 4226—is re¬
ported to have been purchased by Rene T. Leclerc, Inc., of Montreal, at a
price of 98.03, a basis of about 4.17%.
Dated July 2, 1936.
Due in 30
years, optional in 15 years.
PICTOU, N. S.—BOND SALE—A $10,000 issue of 3H% semi-annual
improvement bonds is reported to have been purchased by C. H. Burgess
Co. of Toronto, at a price of 99.07, a basis of about 3.57%.
Due in
•&
20 years.
commented in part as follows on the result of the election held on that day:
The Union Nationale party, with "Reform" as its slogan, swept into
in Quebec Province tonight.
It won an overwhelming victory in
provincial elections, ending the 39-year domination of the Liberal party in
the provincial Legislature.
Premier Adelard Godbout
who succeeded Louis Alexander Taschereau
power
,
last June, lost
his own seat.
Many members of his Cabinet also were
defeated, including Lucien Dugas, Speaker of the House; Wilfred Gognon,
Minister of Commerce and Industry, and Stuart McGougall, Provincial
Treasurer.
Two other Ministers defeated were Cesaire Gervais, Minister
of Public Works and Mines, and
and Fisheries.-
Edgar Rochette, Minister of Labor, Game
*
According to the final returns, the Union Nationale party won 75 seats
in the 90-member House.
The Liberals carried only 15 constituencies,
the Canadian Press reported.
ST. HYACINTHE, Que*^-CORRECTI ON—We are informed by M. A.
David, City Clerk, that the report given in these columns recently to the
effect that the city was offering $25,000 4% bonds for sale on sealed tenders
$11,000 school building bonds.
held
given the city $85,000 in certificates in lieu of a $55,000 August cash relief
Council agreed Wednesday night to accept the Province's offer.
grant.
LONG
Sale will not be made at less than par.
cago.
action or until further order."
.
The injunction does not restrain citizens of Edmonton from accepting
certificates.
.'•««=*
•
The action nullified an agreement whereby the Government would have
QUEBEC, Province of—LIBERALS VOTED OUT OF OFFICE AFTER
TERMS—An Associated Press dispatch from Quebec on Aug. 17
$22,000 bonds, series of 1924.
12,000 bonds, series of 1928.
Denom. $1,000.
Dated Sept. 15. 1936.
Due Sept. 15,1950.
Principa1
and semi-annual interest (March 1 and Sept. 1) payable at the City Treas¬
to the
of Edmonton" is prevented by the injunction from any agree¬
of Alberta, whereby the City
ment with the "Government of the Province
(This report supplements the election notice given here recently—V. 143,
1126.)
WYOMING
WORLAND, Wyo.—BOND CALL—The entire issue of 6% water ex¬
dated Sept. 1,1921, are said to be up for payment on Sept. 1,
on whjtQh date interest shall cease, at the Stock Growers National Bank of
Cheyenne. Due on Sept. 1, 1951, optional on Sept. 1, 1936.
tension bonds,
Canadian Municipals
on
Aug. 18—V. 143,
p.
964—is incorrect as no bonds are being offered by
the said city.
However, Mr. David points but, a nearby municipality, St. Joseph
Village, St. Hyacinthe County, independent of the City of St. Hyacinthe,
advertised in the' 'Quebec Official Gazette" on Aug. 1, the proposed sa^e or
25,000 in municipal waterworks construction bonds,
ST.
LAMBERT, Que.—DECLARED BANKRUPT BY COURT—Justice
Guibault of the Montreal Superior Court has issued a judgment placing the
City of St. Lambert in bankruptcy.
The petition was granted on plea of
lawyers of the Quebec Municipal Commission that the south shore city
had failed to meet interest payments on loans in specific instances.
Acting in cooperation with officials of the Quebec Municipal Commission,
the St. Lambert City Council endeavored to solve its financial problems
by refinancing the bonded debt with consent of the bondholders.
Negotia¬
tions were started but the initial plan was not accepted by the bondholders.
Subsequently, with approval of Commission officials, the city passed
a by-law to refund its debt by effecting a new bond issue of $3.3 millions
and providing for redemption of all outstanding bonds and bank loans.
This by-law was incorporated in the form of Bill No. 19 which was placed be¬
fore the last session of the Quebec Legislature.
It reached and passed the
second reading before dissolution of the Legislature with which it auto
matically fell to the ground.
At the regular council meeting June 15, the City Council passed a resolu¬
tion asking the Quebec Municipal Commission to place the city in default.
The petition before the Superior Court, on which judgment has been given
Justice Guibault, was a direct result of this action.
„
Information and Markets
ST.
BRAWLEY, GATHERS & CO.
25
ST. WEST, TORONTO
KING
ELGIN 6488
MARYS, Ont.—BOND SALE—A $30,000 issue of 4% semi-ann.
improvement bonds is reported to have been purchased by the Dominion
Securities Corp. of Toronto at a price of 104.67, a basis of about 3.09%.
Dated Aug. 12, 1936.
Due in 10 annual instalments.
SOREL, Que.—BOND SALE—The $96,000 issue of 4J^% semi-annual
school bonds offered for sale on July 28—V. 143, p. 476—-was purchased
jointly by L. G. Beaubien & Co., and the Creidt-Anglo-Francais, Ltd.,
both of Montreal, at a price of 98.56, a basis of about 4.65%.
Due from
CANADA
Aug. 1, 1937 to 1961 inclusive.
CANADA,
Dominion of—REVENUE SHOWS 25% INCREASE— Re¬
flecting a steady business recovery, the revenue reaching the Federal
Treasury for the first four months of the current fiscal 'year and ended
with July 31 shows a gain of about 25% over the same period last year.
For the month of July alone there is an increase of a little over 20%.
The increase in expenditure for the four months this year was less than
10%.
Gains in Every Branch
■
.
Total
for the four months ended July 31 last was almost $170,*:
against $146,000,000 in the same period in 1935; while in the
July alone the revenue was $34,268,000, as compared with about
$28,500,000.
There were gains in every branch of revenue, but the notable
advances were in income tax, sales tax and customs, resulting both from
higher rates and from more income.
The income tax for the four months
this year yielded over $72,000,000, as against a little over $58,000,000
in the corresponding four months last year, or a gain of nearly 25%.
More notable was the gain in income tax revenue for the single month
of July.
The total for that month in the current fiscal year was a little
revenue
000,000,
as
month of
over
$6,000,000.
And for the
same
month last year it was about $4,000,000, or an advance
of about .50%.
Sales and other excise taxes yielded about $39,000,000 for the four months,
gain of over 20%; while for the month of July alone this revenue was
$13,000,000, as against $10,000,000, or a gain of over 30%.
For the
four months customs revenue'was about $26,500,000, as against $24,500,000
a
Expenditures Increase
Total ordinary expenditure for the four months was about $124,500,000,
as
against $120,500,000 last year; while for the month of July alone it was
WINDSOR, Ont.—GOVERNMENT ANNOUNCES DISSOLUTION OF
CITY FINANCE BOARD—-The following report oh the affairs of the above
city was taken from the Toronto "Financial i-ost" of Aug. 15:
Dissolution of the Windsor Finance Commission which has exercised
supervision over the financial affairs of the City of Windsor, Ont. since the
amalgamation of Windsor, Walkerville, East Windsor and Sandwich last
year and which is responsible for the refinancing plan at present before the
Ontario Municipal Board, has been announced by Hon. David Croll,
Minister of Municipal Affairs in the Ontario Government.
Legislation
providing for dissolution of the Commission was passed at the last session
of the legislature.
The Windsor City Council now assumes direction of its own finances
except that it remains under the supervision of the Ontario Department of
Municipal Affairs.
Like the Commission the department will have power
to veto any
proposed civic expenditure of which it does not approve.
Ends Stormy
Period
Dissolution of the Commission brings to an end a rather stormy period
in the administrative history of the border municipalities.
Since the
amalgamation on July 1, 1935, when the finance commission began to
exercise its
supervisory powers, there has been constant conflict between
Commission and the City Council.
On a number of occasions the
has ruled against expenditures which had been approved by
the City Council.
Recently the Council refused to impose a special relief tax levy which
the Commission had ordered.
However, acts of the Commission have
been validated by statute so that the Council has no alternative but to
proceed with levying the special four-mill tax.
the
Commission
@FedFRASER