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10 1936
COPYRIGHTED IN 1936 GY WILLIAM B. DANA COMPANY, NEW
YORK.
VOL. 143, IS3"6dW^r^vnrCo>y~
ENTERED AS
SECOND-CLASS MATTER JUNE 23, 1879, ATTHE POST OFFICE AT NEW YORK, NEW YORK, UNDER THE ACT
CHASE
THE
COMPANY
Chartered
NO. 3711
NEW YORK, AUGUST 8, 1936.
TRUST
BROOKLYN
OF MARCH 3, 1J70.
NATIONAL
1866
Kidder, Peabody & Go.
George V. McLaughlin
NEW
YORK
;
BOSTON
OF
THE
CITY vOF
The
BANK
NEW
chase
YORK
is
tra-
President
PHILADELPHIA
ditionally a bankers' bank.
For
Member Federal Deposit Insurance
served
Corporation
it has
years
many
BROOKLYN
NEW YORK
large number
a
of banks and bankers
as
New York
correspondent
and
depository.
COMMERCIAL BANKERS SINCE 1852
WdfeEugoBank
Member Federal
Deposit Insurance Corporation
United States
UnionlrustCo.
SAN
reserve
Government
FRANCISCO
Member Federal Deposit Insurance
RESOURCES OVER $200,
i.
Securities
Corporation
United States
Government
jrrrffil
Securities
_.i
■
The
Hallgarten & Co.
FIRST BOSTON
NEW YORK
BOSTON
Incorporated
philadelphia
London
y
and other
63 Wall Street,
New York
Telephone: BOwling Green 9-5000
chicago
NEW YORK
Chicago
Brown Harriman & Co.
CORPORATION
Established
1850
san francisco
principal cities
Boston
Philadelphia
Chicago
San Francisco
Representatives in other leading Cities
throughout the United States
WERTHEIM & CO.
120
The
Broadway
State and
New York
Amsterdam
London
NewYorkTrust
Municipal Bonds
CARL M. LOEB & CO.
61
Barr Brothers & Co.
BROADWAY
Capital Funds~~.$32,500,000
NEW YORK
INC.
New York
Berlin
Amsterdam
Chicago
Paris
London
ioo
broadway
57TH ST. & FIFTH AVE.
40TH ST. & MADISON AVE.
United States Government
SECURITIES
EDWARD B. SMITH & CO.
NEW YORK
State
New York
31 Nassau Street
-
Municipal
Industrial
PHILADELPHIA
Cleveland
New York
•
.
'Pittsburgh
(5th Ave.)
•
BOSTON
•
Allentown
European Representative's Office:
London
•
Easton
8
Railroad
KING WILLIAM STREET
-
Public Utility
BONDS
LONDON, E. C. 4
Correspondent
R.W.Pressprich&Co.
*
Edward B. Smith & Co., Inc.
Minneapolis
CHICAGO
St. Louis
Member Federal Reserve
N. Y.
Members New York Stock Exchange
System and
Clearing House Association
New York
Chicago
Philadelphia
San Francisco
Chronicle
Financial
II
A. G. Becker & Co.
BAKER, WEEKS
Incorporated
& HARDEN
Established 1893
Investment Securities
Aug. 8, 1936
J. & W.
Seligman & Co.
Members
Investment Securities
Commercial Paper
•
New York Stock Exchange
Philadelphia Stock Exchange
Chicago Board of Trade
New York Curb Exchange
52 WALL STREET, NEW
Chicago
New York
No.
64 Wall
Street
NEW YORK
YORK
Graybar Building, New York
And Other Cities
Commercial Trust Bldg., Philadelphia
London Correspondents
Buhl Building, Detroit
6 Lothbury, London, E. C. 2
Bourse Building, Amsterdam
52, Avenue des Champs-Elysees, Paris
BIRMINGHAM
SELIGMAN
BROTHERS
'
.
Foreign
MARX & CO.
BIRMINGHAM, ALABAMA
SOUTHERN
Australia and New Zealand
CORPORATION BONDS
,
NEW SOUTH
WALES
(ESTABLISHED
(With which
l""1'
■
Hong Kong & Shanghai
BANK OF
AND
MUNICIPAL
Foreign
are
1817)
amalgamated the Western Australian
Commerce, Ltd.)
Bank and The Australian Bank of
Paid up Capital
Reserve Fund
Reserve Liability of
NEWARK
£8,780,000
6,150,000
__
New Jersey
State & Municipal Bonds
Newark Bank & Insurance Stocks
'
N
,
■
8,780,000
Proprietors—
£23,710,000
BANKING CORPORATION
Incorporated in the Colony of Hongkong.
The
liability of members is limited to the extent and
in manner prescribed
by Ordinance No. 6 of 1929
of the Colony.
Authorized Capital (Hongkong Currency)
HS50,000,000
Paid-up Capital (Hongkong Currency)—HJ20,000,000
£6,500,000
Reserve Fund in Sterling
rency)
HJ10,000,000
Reserve Liability of Proprietors
kong Currency)-
Aggregate Assets 30th Sept., 1935-£115,559,000
A. C. DAVIDSON, General Manager
C.
DE
C.
72 WALL
BRANCHES AND AGENCIES in the
Australian States^ New Zealand, Fiji, Papua,
Mandated Territory of New Guinea, and London.
The Bank transacts every description of Aus¬
tralasian
Banking Business.
Wool and other
Produce Credits arranged.
-
Reserve Fund in Silver (Hongkong Cur-
(Hong¬
H320.000.000
HUGHES, Agent
STREET, NEW YORK
747
J. S. RIPPEL & CO.
Newark, N. J.
18 Clinton St.
Head Office:
George Street,
Street, E.C. 2
NATIONAL BANK OF INDIA, LIMITED
29 Threadneedle
SYDNEY
SJ. LOUIS
London Office:
Bankers
the Government in
to
and
Head Office: 26,<
Agents Standard Bank of South Africa
New York
Branches in
India, Burma, Ceylon, Kenya
Colony and Aden and Zanzibar
Subscribed
Capital
.£4,000,000
Paid Up Capital
Reserve Fund
St. Louis Securities
NATIONAL BANK
Kenya Colony
Uganda
Bishopsgate, London, E. C.
£2,000,000
£2,200,000
The Bank conducts every description of
banking
and
exchange business
Trusteeships and Executorships also
ST/K4
undertaken
of EGYPT
saint Lama
Head Office
.
.
..
.
Cairo
..
8090UVK St
Members St. Louis Stock
Exchange
FULLY PAID CAPITAL
RESERVE FUND.
.
£3,000,000
.
Directory of Stock
3,000,000
.
.
and Bond Houses
LONDON AGENCY
6 and
7, King William Street, E. C.
"Security Dealers of
Branches in all the
principal Towns in
North America"
EGYPT and the SUDAN
Missouri and Southwestern
Published tsmLunuuuUj
Stocks and Bonds
A
Smith, Moore & Co.
St. Louis
St. Louis Stock
Corp. Wire
NATIONAL BANK OF NEW
Exchange
•'
'
<
Chief Office in New
Cities
with
by
full
Zealand: Wellington
Subscribed Capital
-
£6,000,000
Capital---—.
£1,000,000
Currency Reserve-—Bank
The
conducts
every
£500,000
description of banking
business connected with New Zealand.
MUNICIPALS
Street
and
as:
Address.
|
Officers or Partners.
j
Department Heads.
£2,000,000
Reserve Fund
DETROIT
!
States
details
Sir James Grose, General Manager
Paid up
MICHIGAN
alphabetically
ZEALAND, Ltd.
Head Office: 8 Moorgate, London, E. O. 2, Eng.
:
Page Book containing
Established 1872
The First Boston
■
1132
'/■ over 11,000 listings arranged
Correspondents throughout the World
London Manager, A. O. Norwood
Branches
address
maintained
and
names
with
of
street
resident
managers.
Character
of business
securities
and
class
of
handled.
and
Stock
1
CORPORATION BONDS
Exchange memberships
held.
Correspondents.
WATLING, LERCHEN & HAYES
Members
New York Stock Exch.
New York Curb Assoc.
Detroit Stock Exchange
Royal Bank of Scotland
Chicago Stock Exch.
334 BUHL
BLDG.,
DETROIT
Incorporated by Royal Charter 1727
Private
Wire Connections.
Docal and
Dong Distance Telephone
Numbers.
Capital (fully paid)
£3,780,192
Reserve fund
Deposits-
£3,857,143
£64,009,174
-
HERBERT D. SEIBERT & CO.
Ooer
200
Years of Commercial
Incorporated
Banking
MICHIGAN MUNICIPALS
CHIEF FOREIGN
3
Publishers
DEPARTMENT
Bishopgate, London, England
25 SPRUCE STREET
HEAD OFFICE—Edinburgh
Charles A. Parcel Is &. Co.
Members of Detroit Stock
Exchange
PENOBSCOT BUILDING, DETROIT, MICH.
NEW YORK CITY
General Manager
Telephone—BEekman 3-1767
William Whyte
Total number of offices, 254
Associated Bank. Williams Deacon's Bank, Ltd.
AUGUST 8, 1936
Vol. 143
No. 3711
CONTENTS
Editorials
page
805
Financial Situation..
Proposed
Reforms
in
Court Organization and
Legal
818
Procedure._
National and International Aspects of the War in Spain. 820
Comment and Review
New
Capital Flotations for July and the Seven Months
Ended
Week
July 31
on
821
r
the European Stock
809
Exchanges.
810
Foreign Political and Economic Situation
Foreign Exchange Rates
and
Course of the Bond Market
Indications of Business
815 & 859
Comment
826
.
Activity..
827
......
Week
on
the
New York Stock
Week
on
the
New York Curb Exchange
Exchange
_.J
808
1 858
News
Current Events and
Bank
and
839
Discussions
Trust Company Items
General Corporation and
856
906
Investment News
Dry Goods Trade...
State and
...
950
951
Municipal Department
Stocks and Bonds
859 & 905
Foreign Stock Exchange Quotations
Dividends Declared.
....
865
...
Auction Sales
905
New York Stock Exchange—Stock Quotations..
873
New York Stock
Exchange—Bond Quotations.. 872 &
882
New York Curb
Exchange—Stock Quotations
888
New York Curb
Exchange—Bond Quotations
Other
......
891
Exchanges—Stock and Bond Quotations894
Canadian Markets—Stock and Bond
Quotations...
898
Over-the-Counter Securities—Stock & Bond Quotations. 901
Reports
Foreign Bank Statements..
Course of Bank
814
Clearings.
Federal Reserve Bank Statements
General Corporation and
861
*
869
_
906
Investment News
m
Commodities
The Commercial Markets and
the
Crops.
.....
Cotton
Breadstuff s
940
942
.
947
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 Street (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.
Financial
VI
Aug. 8,
Chronicle
lb..
.
*
$20,000,000
The
Pennsylvania Railroad Company
General Mortgage 3%% Bonds,
Dated
Series "C"
Due April 1, 1970
April 1, 1920
(other than Federal income taxes and
other charges of the Commonwealth of Pennsylvania as may be, in the aggre¬
gate, in excess of five mills per annum on each dollar of the principal of the Bonds) which the Railroad Company or its suc¬
cessors or assigns or the Trustees under the Mortgage may be required to pay or retain therefrom under any present or future
Interest
payable without deduction for
any
tax, assessment or governmental charge
except such portion of such taxes, assessments or
law of the United States of America
or
of the Commonwealth of Pennsylvania.!
GIRARD TRUST COMPANY, PHILADELPHIA, Corporate Trustee.
Bonds are redeemable, at the option of the Company, as a whole but not in part, at any time on sixty days' published
notice, to and including April 1, 1945 at 105%, thereafter to and including April 1, 1955 at 104%, thereafter to and including
The
April 1, 1960 at 103%, thereafter to and including April 1, 1965 at 102j4% and thereafter at 100% plus a premium equal
to
1% f°r each six months between the date of redemption and April 1, 1970, in each case with accrued
interest, all as provided by indenture dated February 1, 1936, supplemental to the General Mortgage.
In
the
are legal investments for savings banks under the laws of New York (New York
Banking Law of April 5, 1929, as amended by the Acts of January 26, 1932, April 21, 1933,
April 5, 1934, April 29, 1935 and March 31, 1936) and other States.
opinion of counsel, these Bonds
The sale of these bonds is subject to the
approval of the Interstate Commerce Commission and all legal proceedings in
are subject to the approval of counsel for the undersigned.
connection with the issue and sale thereof
Copies of
a
circular of the Company, dated August 6, 1936, describing these Bonds and giving information
regarding the Company, may be obtained from the undersigned on request.
Offering price 101V2% and accrued interest to date of delivery,
to yield 3.67% to maturity.
Subject
as
accrued
or
aforesaid the Company has agreed to sell and Kuhn, Loeb & Co. have agreed to purchase the above Bonds at 99l/2% and
interest to date of delivery.
The undersigned reserve the right in connection with the marketing of these Bonds,
market or otherwise.
first instance. The
the New York Stock Exchange.
otherwise, to purchase or sell these Bonds or other securities of the Company in the open
Temporary bonds exchangeable for definitive bonds when prepared may be delivered in the
Company has agreed to make application in due course to
list these Bonds
on
Kuhn, Loeb & Co.
.
New York, August 6,
1936.
'
,
1936
The Financial Situation
centers
and
conditions
the
outlook
immediate
cerned,
to
and
of
flow
the
likewise
a, comparatively good showing,
dividends
has
not
appreciably
make
in the outlook,
home
the
complicated
labor
and
Optimism concerning the remainder of
this
and at least the early autumn seems
that under the
receded
have
but
developments
week
little, if
during
the
horizon,
haps in
give
and
per¬
instances to
some
them
what darker than
case
week
a
some¬
appear
or so
the
was
ago.
Misery" and "Partisan Politics"
form
thing, it is
one
quite clear that
serious
now
have
we
a
semi-
or
is it
opinions
areas
considerable
measure
ness
of
several
tant
crops.
less,
is
impor¬
More, doubt¬
being said about
the
with po¬
used
in
conditions
agricultural
regions—and possibly
done
be
there—than
the
case
more
would
this not
were
election
an
Yet it
year.
to be clear that the
seem&
take
to
from
wastrels
situation in
of
the
large sections
enough, whether
bad
is
country
not
or
bad as, or worse
as
is
as
than, in
official
ally
being said
Nation
through
pass
Natur¬
quarters.
the
situation
in
cannot
such
any
without
serious
which
ex¬
tent
to
with
inflationary funds
for
duces
of
time
a
purchasing
otherwise
tailed..
too
public aid
the
power
would
It is
as
re¬
loss
that
be
en¬
yet rather
early to form definite
of the
ideas
of the
but
exact
loss of
effects
another and
and
give
Outcome
extremes
that
have
been
in
The extent to which
evi¬
to
add to the
will lead to difficulties and
remains
time
as
that
they
production,
one
at
way
one
or
to
be
Ob¬
seen.
viously it could presently
sum
total of human misery in
abroad
re¬
interruptions of operations
tragedy of New Deal policies, as far as
"human misery" is concerned, is found in the
fact that they for the most part could not
better devised
Uncertain
doubled effort of this sort
The
been
company
unions.
dence here.
have
rather
are
termed
merely unfortunate, with
in
many
other countries in recent years,
although certainly not in many of them car¬
the
recruits
another
one
labor owing alle¬
or
loosely
thereby.
This tendency has been in
evidence, not only in the United States, but
to
gain
giance to what
the
to
in¬
to
the part
on
only from
labor,
matter of being too ready
thrifty
the
to
impending
but from unorganized
the long run, at the
have been heralded
great humani¬
become
tarian ideas.
a
thorn in the flesh
business
to
the embodiment of
al¬
managers,
though the probability that
Unfortunately-or fortunately-human mis¬
is not eliminated or reduced by high
sounding words, euphoniously entitled legis¬
lative
enactments,
or
Utopian
programs.
Such ends are achieved, if at all, as far as
government is concerned, largely, if not al¬
most solely,
by policies wifeely designed to
leave the business community free to satisfy
human wants with the least possible cost in
it
will
actually do
ery
time and human effort.
the
months
ahead
difficult
is
activity
of
to
Results
izers, and
in
so
immediately
praise.
of
union
ap¬
the
organ¬
particularly o£
the activities of the groups
■
This is exactly what
naturally they will be
widely felt in
the
or even
both
not
that
as
certain
port
same
loss, regardless of the
a
groups
almost
without thought of gaining political sup¬
or
ried
1934
simply
com¬
between
now
of
other
intertwined.
It is not
two
tensify efforts
however, brings to
closely related matters
which catnnot be too carefully or too con¬
stantly borne in mind. "Human misery" and
public policies, whether or not born of par¬
tisan politics,
may
be indissolubly "linked
up."
In extraordinary degree they are today
so
such
struggle
is
President's retort,
certain
busi¬
great
a
apparently
in them.
The
But any
petitive
mind, although no one is
likely to doubt that there is much substance
mind
labor
perhaps
Neither
litical advantage in
failure
not
community
deal.
of the West and
been
interne¬
such interest the
as
charges that relief funds from the first have
in
This
among
strife
leaders need
intention here to discuss those other
our
con¬
the
concerning
of the East.
areas
organization shall
cine
of the President's projected journeys
drought-stricken
of
officials, who insist
industries.
without doubt iquite able
are
own
the so-called flood
drought condition
and certain failure
the
to
their
clings to the
Federation
tinue by crafts rather than
administration of any government to link up
human misery with partisan politics."
nature
For
that
irked by current references
proposed "inspection trip" through the
drought area as a "political tour," or words
to that effect, told the press on Tuesday that
"it is a very great disservice to the proper
his
to
the Horizon
on
Labor
The President,
Our readers
Clouds
leadership of Mr. Lewis, which demands
American
to
make
has definitely split into two factions,
country
and that which
"Human
been
has
of activity,
spheres
two
organization along industrial rather than craft lines,
number of
a
reason
Apparently organized labor in
the
have served to
emphasis to certain clouds
on
Yet
any.
affairs
of
state
least
at
politics.
the
to
current
in
slackened.
summer
marked
any
particular
or any
expect any in the immediate future.
At
Corporation earnings statements
continue
to
con¬
are
there is. little evidence of
press,
improvement
as
as
to
go
REPORTS • emanatingexcellent
from industrial andcurrent
trade
continue
far
the New Deal has not
done, and when its defenders proclaim it as
a
reason
for support of the Administration
they come close to "linking up partisan poli¬
headed
by Mr. Lewis in
the steel
industry,
tics" with human misery.
form of sundry
time
al¬
are
ready-in evidence in
the
concessions
~
or
made to
another.
The state of affairs in
source
ditions
of
Europe, of
course,
is another
anxiety to thoughtful observers.
across
reassuring for
the Atlantic have not been
a
long while past.
Con¬
particularly
They have been
distinctly disturbing since the Italo-Ethiopian events
with
their
various
ramifications
"began to cloud the horizon.
and
No
repercussions
sooner
situation begun somewhat to recede
tions, and for that matter in the operating costs of
the
of
companies themselves.
this
kind
impending
obviously
The
labor
and serious enough in any event.
whose
we
subject
How much developments
accelerated, if at all, by the
within
the
that
needs
ranks
to
be
of
labor- is
given
due
a
,
or one
unionism,
that it has
At the time
be
conflict
a
trouble,
ground than the outbreak in Spain again increased
the tension in Europe where hazards are numerous
,
will
consideration.
had this
into the back¬
existing organiza¬
of the gravest troubles, with
particularly
in
this
country,
is
given birth to and become the victim of
hierarchy of office holders drawing large salaries
object in life is largely that of continuing to
Financial
806
and
politics,
it resembles professional
In this respect
hold office.
about
probably in
is
equal
degree
subject to the abuses that characterize the usual
and constructive
leadership is not to be obtained in this way.
The
result is that in many trades the unions have, become
Intelligent
machine.
political
Aug. 8, 1936
Chronicle
ment to take the lead in defiance of
it, only
a
short
suddenly to decide to prosecute those who
followed the lead of the Government. If we think,
time later
Sherman Act is "anti¬
that the
believe,
some
as
quated" and its underlying philosophy in error,
we
then
ought to repeal it.
•
a
burden, not to
course
that
to be
seems
inevitable between Mr. Lewis
and his followers and the older office-holders of the
Federation
American
Labor, which
constitutes
doubt the wisdom and the
to
reason
of
struct veness with which any
con¬
such struggle is likely
Fruit
business
of the
Campaign
definite taste of what
modern
.a
political campaign in this country is likely to bring
intended to
is to be considered
der
part of the campaign.
a
indictments
the
We
re¬
down
handed
at
Madison, Wisconsin, naming a number of leading oil
still larger number of individuals, and
companies,
a
three trade
publications. There is
details
as
of
the
no
need to
go
into
charges, criminal in nature
made in these indictments.
It is
of
plain
as
pikestaff that these various defendants are
a
being arraigned for doing what the National
now
Recovery Administration demanded of them at an
earlier
date, what the Administration had repeat¬
edly suggested and what government officials had
But the
Republican party in its platform, at the
urgent demand of
Senator Borah, included some
strong words about enforcing the anti-trust laws,
and
apparently the Democrats have been troubled
about the
the
possibility of losing votes
as
a
result of
monopolistic tendencies of several portions of
their elaborate and confused program.
it concluded that
fully
with
plank must
any
in
the
into its platform
go
Republican credo, and, not satisfied
this, apparently felt that
"showing had to
a
The result is
in the courts.
be made"
criminal in¬
dictments under the Sherman
Act,
of action
Let there be
rarely resorted to.
sympathy for monopoly
of
form.
We
are
extreme form
of late years
one
which has often seemed to
to be in
us
sort
often been
or
another,
plain viola-
spirit of the anti-trust laws, particularly
Sherman
the
mis¬
"restraint of trade" in
or
inclined to collusive action of
tion of the
no
naturally well aware that many
industrialists have
our
an
We have no liking or
understanding of the matter.
any
rate
strong as, if not stronger than, the one
as
found
a
At
Act.
Whether
activities
such
have
actually been violations of these statutes depends
the
upon
the
and
from
interpretation placed
have
courts
so
time
that
lawyers to know in
many
time
to
what is not unlawful.
the
in
to
it
defies
even
courses
laws,
ablest
the
instances just what is and
But all this is
point here. Obviously there
certain
these
variously construed them
pleading with business
take
upon
can
of
largely beside
was
general
asked of them.
principles underlying
or
weMo not.
at
all
If
we
do,
we
changes in large deposit accounts at 98 large mem¬
ber banks in 37 cities. The 98 banks covered held
end of 1935 individual demand
at the
gregating about $11,000,000,000
of the member banks which
but two
deposits ag¬
and included all
had such de¬
posits of more than $22,000,000 at the end of 1935.
25,
Reports were obtained as of two dates, October
1933, and November 1, 1935. Nearly 9,200 identical
accounts were classified on the two dates covered,
aggregating about $5,250,000,000 on November
1935.
1,
reports covered for the two largest banks
The
$500,000
on
either date, for
eight other large banks accounts of over $250,000,
for the
and
remaining 88 banks accounts of over
$100,000.
"In the
period between the two report dates bal¬
in these identical
ances
Almost half of the increase
approximately 50%.
occurred
in
large accounts increased by
'financial'
deposits of individuals, in¬
companies and other financial corporations,
surance
excluding banks, but including deposits of the re¬
porting banks'
tions of such
own
trust departments.
The propor¬
deposits to the total amount of large
deposits covered by the survey increased
slightly
during the period and amounted to somewhat more
one-third
than
These
for the purpose
viduals
November
1, 1935.
They exclude busi¬
engaged in the production, transportation
in public utilities or other
or
industries.
"This
and
growth in deposits of financing institutions
other
investors since 1933
has
been
a
part of
general growth of all classes of deposits.
most
the
on
of investment.
selling of goods
service
the
total
accounts, such as those of concerns and indi¬
ness
and
the
of
deposits represent funds held almost entirely
The
important factors in this increase have been
expansion
in
total loans
and investments
of
banks, almost entirely through the purchase of di¬
rect and
guaranteed obligations of the United States
Government, and the import of gold from abroad.
30, 1933, and March 4, 1936, total
deposits of all banks in the United
in the
Sherman
Law,
should enforce the law
times, and certainly not permit the
of
accumulations
"Between June
either believe
the
large
study recently made un¬
demand and time
action, and then later
We
.
supervision.» This study covered
Board's
the
.
.
shown by a
real justice
no
undertaking to put them in prison for doing just
what
was
obliging them,
be
men, yes,
of
existence
accounts of more than
strongly approved, if not actually suggested.*
and
quoting this memorandum in full and adding
certain other observations has the following to say:
"The
to
The current num¬
Bulletin appearing with¬
after
idle funds
course,
and explaining what it
and to do.
mean
past few days returns to the subject,
the
in
legislation, such for example.. as the new tax bill,
course
lengthy memorandum setting
concerning the situation out of which
forth its views
forth; the first taste, that is, unless some of the
the
■
.
ratios required of member banks.
reserve
At the time it issued a
ber of the Federal Reserve
community during the past week
its first
has had
of
.
the
raised the
was
fer
'
•
A SHORT time ago the Board of Governors of
Federal Reserve System, as will be recalled,
the action thus taken arose,
to be conducted.
The
•
•.
•
Out of Their Own Mouths
large admixture of all this in the struggle
a
now
another
/
t
There is of
nuisance.
say a mere
govern¬
States, excluding interbank deposits, increased by
about
$11,000,000,000 to
a
total of nearly $49,000,-
000,000, compared with $55,000,000,000 in 1929. The
figure for 1929 includes
ume
of items in process
an
exceptionally large vol¬
of collection, and for a fair
comparison with deposits in 1936 it should be re-
Financial
Volume 143
duced
by
much
Chronicle
807
as
$2,000,000,000. Reports from
tribution quickly would be evened out.
member banks in 101
leading cities indicate that a
only
as
further marked increase in
deposits has taken place
Actually,
little of the $300,000,000 of bonus
a
currency
has returned from circulation, and in the report
now
during recent months. In addition, deposits held by
made available, covering the week to Aug. 5,
the Postal
increase of $40,000,000 in the
increased
Savings System outside of banks have
by about $1,000,000,000, and the amount
of currency
in circulation outside of bhnks has in-
noted.
currency
The Treasury continued to
creased
by about $1,500,000,000 since 1929. It would
that account dwindled only
a
therefore, that the amount of deposits and
$25*517,000 gold certificates
were
held by the general public is
it has been at any
as
large
as
previous time."
Federal Reserve
bank
Here is
of facts
set
a
carefully pondered by
be
he
It
Means
circulation.
that deserves
every
to
be most
man,
business
banker, industrialist,
whether
what not, for the
or
meaning of these figures is of vital interest,
to
be, to
obvious:
(1)
persuading
were so
the
twenties
overloading
oversupply
of
Except for
an
goods and
a
effects
show
thus
are
quite
succeeded
with
themselves
bringing into being
increased demand for
themselves, for the
inflation
money now
lies idle.
at work in
a
that
reason
a
as
what
the
they
outward
from
form
might be different.
"psychological effects," always
lean upon,
entire
put
are
reduction in
a
course
Apart
slender reed to
excess reserves, or even
their
elimination, could have but little effectiveness
checking the onward rush to destruction.
m
(5)
Barring large exports of gold, nothing short of
duction of the volume of bank
fective in such
re-
deposits could be ef-
circumstances, and reduction in bank
deposits could only be effected in substantial degree
as
a
practical matter by sale of government
obligations—and the budget still demands that the
Treasury spend enormously
and therefore borrow
more
than it is taking in
constantly
on
particular disturbance
increase of
to
expectations will not be
plain that
equally
will be
caused by
banks increased
5 from
Aug.
on
$8,185,529,000
July 29, but cash in vaults showed
thus advanced
recession, and
a
only to $8,513,401,000
Much of the
increase
currency
reflected in the Federal Reserve note total,
to
no
50%
the
requirements.
$8,211,046,000
TOe
quite
Although
which
Total
$3,979,314,000 from $3,951,101,000.
deposits with the 12 banks receded slightly to $6,764,m m from
balances
Member bank reserve
$6,78o,214,000.
$6,004,796,000 from
droPPed to
170,000, while Treasury deposits
fell in the
same
on
period to $439,391,000 from $466,-
Foreign bank deposits moved
210,000.
bank
somewhat higher at $249,675,000,
were
The
of $240,676,000.
previous figure
against the
to $71,-
up
and non-member
040,000 from $57,158,000,
deposits also
$6,016,-
general account
ga-n *n nobi circulation offset the small increase of
reserves
and the decline of circulation liabilities, so
^ba^. ^be
reserve
other
79.2%.
weekly statement also were
of the
aspects
unaJtered.
ratio remained unchanged at
Discounts
by
the
increased
system
$292,000 in the week to $3,960,000, but industrial
advances feU $696,000 to
holdings
at
quite unchanged, with bankers' bills
were
$3 092,000,
securities at
Open market
$28,888,000.
Government
States
United
and
$2,430,277,000.
its promises to
Corporate Dividend Declarations
President Hoover
was
warned upon
in 1929 that before his term had
find the
in
reserves
remained
Gold certificate holdings of the 12
pay.
lem
member bank
is
it
15_
$8,500,276,000.
deposit-
(4)
Aug>
from
large
very
in 1928 and 1929, although of
official
that
by
(2)
degree approaching that obtaining in
were
evident
reserves
yet to
(3) Once these deposits
js
realized
total
1929, the results would inevitably be just
or
^
consumable
have
gain in
by the
requirements
legal
vast
steady reduction in interest rates, the
enormous
0f
excegS
from the
expected
countered
In consequence,
on
a
part of thta newly created currency and
1928
in
be
might
was
long
deposit-money.
and
currency
this
of
has
ought
roundly condemned for doing during
and
assets
Government
The
or
jn
deposited with the
changed for the week at $3,050,000,000.
obliging the banks to do just what
or
they
term
A number of inferences
everyone.
practice
little, partly because
The impetus to member
banks.
that
reserves
Treasury
What
its general
use
account for its huge disbursements, but the cash in
appear,
currency now
an
item is to be
taking office
expired he would
banks
presenting the most difficult probfacing him. Should Governor Landon succeed
displacing the present Administration
find
no
more
problem
difficult
pressing,
more
and
will
for that matter
dangerous, than that growing
out
of the
has
created, although,
Hoover, it
or
he
banking situation which the New Deal
may
for
a
as
in the
case
of President
time be difficult to convince
him of the fact.
T7AV0RABLE action
JT
of 75c.
extra dividend
an
was a
feature
General Motors Corp.
again the current week.
declared
a
share and
a
regular quarterly of 50c. a share payable on the
stock Sept.
common
june
12
elared
a
last.
12;
a
similar extra
was
Soeony-Vacuum Oil Co.,
dividend of 25c.
a
share
on
paid
Inc.,
de-
the capital stock,
payable Sept. 15, which compares with 20c. a share
paid March 16 last, and only 15c. a share on Sept. 16
and March
declared
addition
Federal Reserve Bank Statement
dividends
on
bodl
to
Standard Oil Co. of Indiana
15, 1935.
an
extra
the
dividend
of
25c.
a
share,
in
regular quarterly of like amount,
payable Sept. 15; on June 15 last 15c. a share
THE current condition statement of the fairly clear extra of 25c. a share and Corp. declared an extra diviwas paid. Texas a regular quarterly dividend
Banks, combined, makes it 12 Federal
dend
Reserve
that the Board of Governors of the Federal Reserve
of
System will be disappointed in their official expectations of $3,400,000,000 to $3,500,000,000 of excess
declared a dividend of 35c. a share on the common
reserves
ments
the
increased
month
the
by Aug. 15, when the higher
become
was
effective.
requirements
based, to all
currency
The
reserve
estimate
were
when
announced
appearances, on a
expansion incident to the
require-
made
last
belief that
bonus
dis-
like
Oct. 1.
amount
on
common
stock,
both
payable
International Nickel Co. of Canada, Ltd.,
stock, payable Sept. 30, which compares with 39c.
paid June
last.
30 last
and
Tri-Continental
dividend of 25c.
able Oct. 1.
a
25c.
Corp.
a
share
declared
March 31
initial
an
share on the common stock,
pay-
Harbison-Walker Refractories Co. de-
Financial
808
clared
dividend of 50c.
a
which compares
in
with payments of only 25c. a share
Bendix Aviation Corp. de-
preceding quarters.
clared
dividend of 50c.
a
share, payable Sept. 1,
a
a
share
the
on
common
stock, payable Sept. 12, which compares with only
25c.
share
a
three
in
previous quarters.
Crown
Cork & Seal Co. declared 50c. a share on the
common
stock, payable Sept. 8, which compares with 2,5c.
share distributed each three months from
a
Sept. 6,
1934, to and including June 6, 1936; in addition, an
a share was paid Dec. 6,1935.
extra dividend of 50c.
Chronicle
The New York Stock Market
j\ R ODEST and uncertain movements were the
1V1 rule this week on the New York Stock Ex-
.
trend for the full weekly period definitely toward
higher levels. During the greater part of the week
traders and investors preferred to sit on the sidelines and await new developments in the national
and international spheres. Some perturbation was
occasioned by the increasing ravages of the Westdrought, which now is described officially as
ern
/
,
COMMERCIAL failures in the United States in
July
the smallest, both
to number
were
and
size
as
<
liabilities
of
of
July since 1919, in
any
which year failures were fewer than any other in
the
in
This year's July failures
period since 1894.
fact, smaller than
to the year
1919 except June last, when, although
firms failed, the
more
less than in July.
with
liabilities of
liabilities involved
There
were
were even
in July 639 failures
$9,904,000, which
with
compares
773 in June with liabilities of $9,177,000; in July a
year
however, 902 firms failed for
ago,
$16,523,000,
as
while
July 1932
there
involved of
no
were
only
few
a
years
caused
while
the
there
failures* but
reductions
were
of
manufacturing and retail trade
nearly
as
than
50% in
divisions and
much in the wholesale trade division, the
decline in the service group was not so great, and
in the construction group
of
crease
different
131
nearly 50%.
failures with
which
liabilities in
actually
was
an
in-
The actual figures in the
follows:
as
Manufacturing,
$2,347,000 of liabilities involved,
with
compares
172 failures and $5,237,000
July 1935; in the retail division, 365
firms failed for
for
were
groups
there
$6,327,000
$3,197,000 in comparison with 551
a
year
ago;
67 firms with $1,173,000
in the wholesale
group
liabilities failed, compared
with 81 failures with $2,140,000
liabilities in July,.
to influence1 the decision or
in
to^ard caution
to keep
markets
own
our
the
accentuated by
was
trade
But
developments.
out of
tendency
such external
industrial reports
and
again made Optimistic reading, and the final upturn
jn stocks
yesterday apparently was due to a conclufavorable factors
that
Trading
0nes.
outweigh the unfavor-
slightly
was
in
excess
of
i?000,000 shares in each of the earlier sessions, while
sharp increase took place yesterday.
a
more
The foreign scene
little unsettlement.
confpct.
^jie
a^e
to liabilities involved,
as
a
excessively gloomy as fighting continued
gpa|n and other European nations maneuvered
either
^ago—in
line from point of view
only
remained
sion
less than $87,190,000.
with violation of the Sherman anti-trust law
men
Considering the failures by divisions of industry
of number of
More
country.
Indictments in Wisconsin charging many
ia^or>
much
as
2,596 failures with liabilities
reveals reductions in every
of the
history
indications of a sehism in the ranks of organized
are,
other month subsequent
any
the
in
worst
favorable from the viewpoint of stockholders were
July
.
upswing yesterday turned the
change, but a sharp
the
Business Failures in
Aug. 8,
Last
prices
Saturday's
session
was
dull,
and
aimlessly.
Small
gains
and
losses
were
equally numerous for the brief period.
The
drifted
about
A small
tendency last Monday was much the same.
buying movement appeared in oil and utility stocks,
with
some
of the cheaper
mand, but other
groups
carrier issues also in de-
tended to decline.
Dealings
Tuesday remained dull, with the trend moder-
on
ately improved in utility and carrier groups, while
a
few industrials also showed
of the anti-trust suits.
cause
interest
was
recessions
to
were
be
gains under the lead-
Oil issues
ership of steel stocks.
noted
were
uncertain be-
No great increase of
on
Wednesday.
Small
registered in most industrial and oil
stocks, while utility and railroad shares remained
at
The trend
previous levels.
on
Thursday
was
slightly upward, although trading did not increase.
1935; in the service industries 34 firms failed with
Utility and industrial stocks improved, apparently
$1,314,000 liabilities, while
because of reports of greater telephone
liabilities of
as
compared with 55
but liabilities involved
The
and
year
40
were
liabilities
was
July last
there
were
compare
unfavorably
of
year.
fewer
this* year
ago,
$703,000 compared with $602,000
In all the other Reserve districts
failures
and
less liabilities except
Minneapolis District, where the
ever,
fewer liabilities this
reduction
bilities
was
in
the
year.
same
number
show large
improvement
Cleveland,
Dallas.
-
were
Other districts to
New York, Philadel-
New Orleans,
Kansas City,
and
Industrial, utility and
movement turned out to be the most impressive of
the week.
In the listed bond market the tone was cheerful
throughout.
and
United States Government securities
in demand, largely for institutional account,
were
a
half-dozen long-term issues advanced to best
figures since issuance.
week
a
A more decided turn for the bet-
apparent yesterday.
railroad stocks all joined in the advance, and the
The most notable
although the drop in the number of failures
year.
was
were
Chicago District, where lia-
only to 72 from 88 last
Some fairly large advances were recorded in high-
priced specialties.
last, with, how-
dropped to only $824,000 from $2*817,000
year ago,
phia,
with
installations,
larger mail order business, and similar indications,
ter
compared with 30 last
of firms—21—failed this year and
was
year
the Richmond District, where there
failures
and liabilities
the
a
$1,873,000 this
only Federal Reserve district in which the
failures
in
amounted to
compared with only $1,294,000 in July, 1935.
year
last
43 failed with
$1,525,000; in the construction line there
42 failures
were
a year ago
High-grade corporate loans
well maintained, while the
moved
rapidly
into
new
issues of the
investment
portfolios,
Secondary and low-priced railroad bonds showed
good
gains,
and
speculative
industrials
moved
higher under the leadership of recent issues of
vertible bonds.
Foreign
quiet and uncertain, with
dollar
some
obligations
con-
were
Europeans sharply
lower because of the repercussions of the Spanish
conflict.
Grains and
corn
moved
erratically in the
Volume
FinSHlClQl
143
commodity markets, with the main trend upward
Other commodities were gen¬
owing to the drought.
Foreign exchange markets reflected
erally steady.
the
French
persistently soft and finally touched
yesterday at which gold could be shipped from
to New York at a profit.
Sterling and the
disquiet caused by the Spanish revolt.
francs
levels
Paris
were
currencies linked with the British unit
On
high levels for the
new
touched
Stock Exchange
York
New
the
touched
On
low levels.
new
were
year
the
steady.
stocks
117
while 20 stocks
New
York
Curb
Exchange 65 stocks touched new high levels and 24
stocks touched
New
at
Stock
York
1%.
Exchange remained
'
•;
...
.
On the New York Stock
session
half-day
shares; on Monday they
were
Tuesday, 1,049,330 shares;
on
last
490,650
were
1,004,830 shares; on
Wednesday, 1,283,660
on
on
dergoing
present week has been un¬
period of readjustment after its steady
a
advance of
past months.
of the market
Friday of last week; United States
on
31% against 32, and B. F. Goodrich at
The railroad shares reflected
further gains this week.
Pennsylvania RR. closed
yesterday at 37% against 37 on Friday of last week;
Atchison
New
Topeka & Santa Fe at 86% against 84;
York
Central
Pacific at
42
at
against 40%; Union
42%
143% against 137; Southern Pacific at
against 40%; Southern Railway at 22% against
This corrective attitude
got under way the latter part of last
63
against 62%
Atlantic
Anaconda Copper closed
39% against 39
Friday of last week; Kennecott
on
Refining at 88% against 88, and Phelps Dodge at
38% against 37%.
Trade
Steel
was
estimated by the American Iron
Institute
at
71.4% of capacity against
71.5% last week and 46.0% at this time last
Production
of electric energy was
hours
decided upturn
Yesterday, however,
with
occurred, and stocks closed for the
eral Electric closed
on
at
Gen¬
yesterday at 46% against 43%
Friday of last week; Consolidated Edison Co.
of N. Y. at
42% against 41%; Columbia Gas & Elec.
22% against 22; Public Service of N. J. at 47%
International
160;
Harvester
at
82%
against 81%; Sears, Roebuck & Co. at 82% against
and with
This is
of
As
closed
Union Tel. closed yesterday at
Western
87% against 88%
on
Friday of last week; Allied Chemical & Dye at 242
Columbian
217;
against
Carbon
at
130
against
gain of 16,489 cars
a
152,254
cars over
over
the
reports.
the previous week
week of 1935.
same
of the commodity
course
mar¬
yesterday at lll%c. against 110%c. the close
Friday of last week.
closed
174% against 171%.
Car loadings of
year.
freight in the week to Aug. 1 totaled 747,551
kets, the September option for wheat in Chicago
Woolworth at
& Tel. at
compares
1,821,398,000 kilowatt hours in the
indicating the
on
ican Tel.
This
the Association of American Railroads
cars
82%; Montgomery Ward & Co. at 47 against 46%;
54% ex-div. against 53%, and Amer¬
2,079,137,000 kilowatt
2,OSS,284,000 kilowatt hours in the preceding
revenue
and
year.
reported by the
Aug. 1.
corresponding week of last
against 47; J. I. Case Threshing Machine at 168%
against
for the week ended
week
day and week at substantially higher prices.
steady
of activity attained
Steel ingot production for the week
spring.
ending today
and
indicate
indices
industrial
and
maintenance of the fair degree
Edison Electric Institute at
a
yesterday at
Copper at 44% against 44%; American Smelting &
of
ing in rather aimless fashion.
In the cop¬
Refining at 28% against 28%.
group,
per
week, and the trend since that time has been one
indecision, with the main body of stocks drift¬
Friday of last
on
week; Shell Union Oil at 18% against 18%, and
last
Friday, 344,185 shares.
The stock market the
In the rubber group,
against 2.
22% against 23%.
Tuesday, 278,030
shares; on Wednesday, 313,375 shares; on Thursday,
263,035 shares, and
against 24%
Rubber at
yesterday at
On the New York Curb Ex¬
Monday, 251,930 shares;
2%
Among the oil stocks, Standard Oil of N. J. closed
•
.
change the sales last Saturday were 142,855 shares;
on
at
Goodyear Tire & Rubber closed yesterday at 23%
unchanged
shares; on Thursday, 1,171,950 shares, and on Fri¬
day, 1,671,570 shares.
69%; Chrysler at 120% against 119%, and Hupp
Motors
20%, and Northern Pacific at 27% against 27%.
on
Exchage the sales at the
Saturday
on
809
the
Call loans
low levels.
new
Chronicle
close
September
Friday of last week.
on
at Chicago
September oats at
Chicago closed yesterday at 42%c.
the close
The
corn
yesterday at 104%c. as against 101%c. the
as
against 40%c.
Friday of last week.
on
spot price for cotton here in New York closed
127%; E. I. du Pont de Nemours at 166 against 165;
yesterday at 12.67c. as against 12.85c. the close on
National Cash
Friday of last week.
Register at 26% against 26%; Inter¬
at
51%
against' 50%;
National
yesterday was 16.34c. as against 16.44c. the close
Products
Dairy
at
26%
against 26%;
National
Friday of last week.
Biscuit at 32
against 33; Texas Gulf Sulphur at
36% against 35%; Continental Can at 68% against
In London the
73; Eastman Kodak at 182 against 180; Standard
Brands at
ounce on
15% against 15%; Westinghouse Elec. &
Mfg. at 141% against 140; Lorillard at 23% against
United
States Industrial
Alcohol
at
34%
Domestic
copper
on
closed yester¬
day at 9%c., the close on Friday of last week.
19%
24%;
The spot price for rubber
Nickel
national
per
pence
In
on
as
against 19%
was
pence
per
Friday of last week, and spot silver in New
York closed
close
price of bar silver yesterday
ounce
yesterday at 44%c., unchanged from the
Friday of last week.
the
matter
of
the
foreign exchanges,
cable
Canada Dry at 16% against 14%;
Schenley Distillers at 38% against 39%, and Na¬
transfers
tional Distillers at
against $5.61 11/16 the close on Friday of last week,
against
The
37;
steel
stocks
27% against 28%.
registered
increased
compared with Friday a week ago.
Steel closed
gains
as
United States
yesterday at 67% against 65
on
Friday
of last
Steel
and
cable
6.58
5/16c.
London closed
transfers
as
on
yesterday at $5.02%
Paris
closed
as
yesterday at
against 6.58%c. the close
on
Friday
of last week.
week; Inland Steel at 104 against 102; Beth¬
lehem
on
at
22% against 21%, and Youngstown Sheet & Tube
at
79% against 72%.
Auto closed
European Stock Markets
58% against 55%; Republic Steel
at
.
In the motor group, Auburn
yesterday at 33% against 33%
on
Fri¬
day of last week; General Motors at 69% against
DULL markets and declining quotations the prin¬
exchanges in were the
rule this week
on
stock
cipal European financial centers. Much uncertainty
was
occasioned
by the Spanish conflict and the indi-
Financial Chronicle
810
The fears that such
tions.
fully almost a month ago totaled only
cognizance was taken of the progressive increase
of
difficulties, and the natural financial
reaction
toward
The
was
reduction of commitments,
a
added
tendency toward a dictatorship in Greece
somewhat
London
The
trend.
this
to
Ex-
Stock
registered in French bank and industrial
stocks. International securities were in good
demand. Declining quotations for rentes featured
the Bourse yesterday, while other groups were un-
Auirregularity in the
trading of the week. The trend at Paris was favorable in early dealings, but sharp declines developed
change, closed^n Monday in observance of the
were
gust bank holiday, showed mild
Trading on the Berlin Boerse was not greatly
affected by the developments in Spain and Greece,
owing to the "autarchy" movement in the Reich,
but prices were weak in the opening session of the
Trade
irregular, but mainly toward lower levels.
and industrial
certain.
Movements at Berlin were
in the mid-week sessions.
reports were rather good in all the
leading industrial countries of Europe, but the indications of continued
improvement were overshad-
while home
week. Steel stocks fell sharply on disappointing
dividend news from one large concern, and other
groups of issues also were soft. Declines in prominent issues ranged from 1 to 5 points. Fixed-interest
obligations were quiet and steady. The recession in
German equities was continued on Tuesday, with
heavy industrial stocks more affected than other
groups. Declines of a point* were common, while
some issues fell 4 and 5 points. A more cheerful
tone prevailed on Wednesday, and a part of the previous decline was regained in that session. Specu¬
lative favorites moved 1 to 2 points higher, with
interest centered mainly on steel and mining stocks,
amicable settle-
Renewed liquidation unsettled the Boerse on Thurs-
In the industrial section
day, with quotations soft all along the line. Losses
owed
by the international complications.
sixth
consecutive
For the
month, British statistics on un-
employment reflected improvement during July. The
decrease
month
in the
French and German conditions
est, total since 1930.
also
are
The
of British unemployed last
roster
50,604, to a total of 1,652,072, or the low-
was
improving.
August bank holiday was observed last Mon-
day in London, and there was no trading on the
London Stock
week
were
lative
Exchange that day. Dealings for the
resumed
quietly
on
Tuesday, with specu-
activity dampened by the foreign situation,
British
funds
ment of
a
well
were
rails advanced
wage
maintained,
indications of
on
dispute.
gains and losses
were
an
of 1 to 2 points were common in industrial and bank
stocks, but fixed-income securities did not vary to.
any appreciable degree. Trading yesterday was dull
and changes were unimportant,
about equally numerous and
German issues improved in the foreign
important.
section, but Anglo-American trading favorites were
In another
marked lower.
small
and
gains
in
were
quiet session, Wednesday,
recorded in gilt-edged securities,
were
rails
home
stocks
Monetary Problems
industrial
Some
advanced.
also
demand, but others suffered from
Greek issues
profit-taking.
the international section
IN
1
marked lower in
were
France, started last Monday a series of conferences
restraining influence
a
with the heads of other leading European central
the London
on
banks.
ly, but home rails declined
profit-taking while
lands for additional exchanges of information and
the international
lower in
tion, and gold mining issues also
edged issues
industrial
After
long
a
steady in
were
stocks
a
were
period
of
quotations, prices advanced
of the
were
opinions.
Gilt-
soft.
on
indicated in Berlin and Paris dis-
Montagu Norman,
Governor of the Bank of Eng-
in the United States.
and
declining
tablish personal contact with Dr.
in the
were
An official announcement in
Berlin stated merely that M. Labeyrie wanted to es-
the Paris Bourse in
Rentes
was
Jand, after Mr. Norman returns from his holiday
irregular.
dulness
It
patches that the talks will be extended to include
sec-
dull session yesterday,
the initial session of the week.
van
Spanish obliga-
Greek and
equal numbers.
marked
that conference ended he proceeded to the Nether-
gains and losses in
on
industrial issues showed small
were
M. Labeyrie visited Dr. Hjalmar Schacht,
President of the Reichsbank, in Berlin, and after
market, Thursday. British funds did not vary great-
while
* angles of the international monetary problem,
Emile Labeyrie, the new Governor of the Bank of
to exercise
about
reputed effort to survey afresh the numerous
owing to the developments
irregular. The international outlook continued
tions
a
country, while other international securities
in that
were
2,300,000,000
francs. Bank and industrial stocks were marked
downward, but gold mining issues improved in obvious response to fears of franc devaluation. Business on the Bourse was at a minimum Thursday, and
the tendency remained unfavorable. Rentes were
marked fractionally lower, while larger recessions
In all the European markets
international
which
Finance Minister Vincent Auriol announced hope-
neutrality; but they were not
assure
dispelled completely.
all depart-
Rentes fell on an announce-
ment that applications for the short term loan
diminished
made progress in its
when the French Government
endeavors to
ments of the market.
activities might lead to a
conflagration were
European
general
dull and quotations sagged in almost
there by neutral na-
cations of aid to the Fascists
Aug. 8, 1936
was
upswing, but bank stocks and industrial
added that the latter
Unofficially, it
was
soon
Schacht, and it
visit,
will repay the
reported that the French regime
international
of Premier Leon Blum is far more conciliatory than
securities likewise
joined in the movement toward
its predecessors with regard to the Reich, and closer
better levels.
thickening international compli-
financial
equities also
improved,
The
cations of the
while
some
Spanish revolt troubled the Bourse,
Tuesday, and the trend in that session
lar.
Rentes
stocks
lost
drifted
all
their
French rail issues
oped
an
moderately
gains
were
of
lower
the
was
bank
previous
this autumn.
day.
now
firm, but industrials devel-
uncertain trend, while most international
securities hardened.
the ground for
irregu-
and
The session
on
Wednesday
was
relations
were
considered
is rumored also that M. Labeyrie
is
more
a
may
probable.
It
try to prepare
monetary agreement to be effected
Germany, according to
some
reports,
willing to contemplate official devalua-
tion of the mark, owing to the American measures
'
-
against trade in the various discount marks, but
any
German devaluation
doubtless
would be
ef-
Financial
Volume 143
fected only in connection
French internal
of the
with
world agreement.
a
price levels are advancing because
policies of the Blum regime, and the question
asked in Paris is whether the
now
countries
likely to
are
cause
prices to the French levels
stead, must choose either
policies of other
advance of world
an
whether France, in¬
or
closed economy or de¬
a
vanishing point the trade between the two countries*
In
Washington the tendency
decree
man
some
Trade with
as a
plain that German exports to the United
States will be curtailed
lated in the official
Germany
she exports.
Germany
sharply if values are calcu¬
mark, and it is also apparent
import only to the extent that
can
With such factors in mind, a rather
pessimistic view of the situation
SOME new adjustments havebetweenmade United
been the in the
confusing trade situation
States and
that
blush
the
Germany, but it would
they
of
volume
issued last
signify
may
business done.
Monday
at first
appear
further decline in
a
merely makes
valuation
of "Aski" marks in
1
States.
mal
In consequence,
able
tion,
as
to
announce
the United States Treasury
interpretations,
taken with
a
on
June 4 and made effec¬
The German action is subject to vari¬
July 11.
ous
revoca¬
of July 25, 1936, of some of the countervail¬
ing duties promulgated
tive
Wednesday the
on
though
even
view to
it
American
plainly
was
obtaining removal of the
tervailing duties of 22%% to 56%
on a
imports from the Reich.
coun¬
variety of
Rudolph
Dr.
Brinkmann, Director of the Reichsbank and
close
a
course
him to
visit
that
explained to Dr. Brinkmann
was
countervailing duties necessarily had to be im¬
dent who
hosts
who
ever
the
There
foreign
is, of
official
subsidized
governments
course, no
German
exports.8
doubt whatever regarding the
stimulation
for
measures
of
ex¬
policy in the affairs of North and South America.
He
spoke at
length of the need for "frank
some
dealing, cooperation and a spirit of give and take
To the
out
would be needless if the Reich
its official mark to the
ling
have
for their
probably
preferred to devalue
degree that dollars
devalued.
Sehacht
Dr.
or
ster¬
took
the
instead, of maintaining the internal value of
course,
the
been
case
devices
good
a
extraordinary
mark, while using
a
variety of
more
less
or
depreciated marks to conduct the foreign trade of
the Reich in the interim
again
are
period until currencies
once
stabilized.
expressed
in
ex¬
President
by the officials of the City of Quebec.
Tweedsmuir, speaking for the Crown,
tions
on
which
States
levels
the several varieties of
almost
all
really
were
close to the
the mark to
German
computed
dictator of the
Dr.
Reich,
the
maintained
may
the
the Republic of the United States
shaken liberties
Minister Mackenzie
the peace
this
of
as
were
held to
King spoke at length regarding
ideals
soon
followed
by
private
will be made the
discussions
problems
alternative
general
willingness to
that
it is somewhat uncertain
forbidding the
use
attend
of
on
various
Belgian statesmen
legalistic requirements,
or
perhaps also
part a reprisal intended to reduce almost to the
was
held in London,
of the
a
five-Power
Rhineland
gathering
question and the
suggestions designed to guarantee Western
European
July 31.
in
discuss
July 23, formal invitations were extended to the
the United States is
to American
meeting to
Soon after the meeting of British,
be determined.
French and
vitations
attempt to conform
a
the conference and its terms of reference remain to
registered marks in payment for German exports to
an
were
European peace problems, but the date of
for discussion
on
interest
the
two fascist Powers to attend
country, and it made no reservations
solely
were
it is
GERMANY and Italy acted the July 31 topact of
assure
other signatories to on Locarno
Western
economic
seeking undue advantages.
the German decree
in which,
Locarno Problem
the
no
of
devaluation that President Roosevelt foisted upon
In this situation
common
The public ceremonies
the
score.
Prime
that has become the priceless heritage of
that similar
their
Tariff Act did not contemplate the currency
whether
help to restore
mankind," he said.
Continent, and he expressed the fervent hope
be questioned,
imposition of the countervailing duties, for the
1930
purpose,
at
The newly devel¬
Schacht,
was
but
surveyed.
Washington authorities, however, had
to
same
assumed,
to
were
It
less
otherwise,
or
and the British Commonwealth may
United
sterling and dollars.
whether
the
pre-devaluation relationships of
similarly comparable figures.
Lord
no
"It is my prayer that,
political
alliance,
any
registered marks in
exports
oped travel marks of the Reich also
therefore,
by
was
through thinking the same thoughts and pursuing
heritage of mankind.
Significant in this situation is the fact that quota¬
delight of his French-
gratitude for the hearty welcome
the
audience,
his
French
tended
nations."
not
make
of the two
apt examples of his own good neighbor
as
authorities
can
His4
Governor-General,
President Roosevelt empha¬
King.
felicitous in his utterance.
Such
historic
formal visit to-Canada.
a
Tweedsmuir,
ports, But it must be remembered that the German
actions.
was an
long and friendly relations
Canadian
wdere
The occasion
represents the British Crown, and Prime Min¬
ister Mackenzie
between
cases
paid
Lord
were
1930, which made such
imperative in
Canadian
highest
the
since Mr. Roosevelt is the first American Presi¬
one,
posed by the United States under the Tariff Act of
measures
to
prevailed between the United States and
countries
It
31
July
Quebec, where expressions of felicita¬
Canada for 150 years.
in
culties and smooth the trade relations between the
on
goodwill reflected the amicable relations
ton last month
two countries.
itinerary that carried
that have
sized
adjust the diffi¬
Neighbor, Canada
vacation
a
tion and,
Hjalmar Schaclit, visited Washing¬
endeavor to
of
Canada, President Roosevelt paid a for¬
authorities at
associate of Dr.
an
mark.
German
official
Our Good
IN THE
payment for German goods exported to the United
was
early formal de¬
an
necessary
more
of the
authorities
German
or
taken in Euro¬
especially at Berlin.
and
circles,
was
European contention is that the entire incident
decree forbidding the use of
a
private barter arrangements
♦
financial
pean
The
to view the Ger¬
was
to our requirements, and
response
countervailing duties promptly were abolished.
But it is
that
valuation.
811
Chronicle
that any
peace.
were
Qualified acceptances of these in¬
announced
at Berlin and
Rome
on
The German Government made it clear
replacement of the Locarno pact must be
preceded by extensive diplomatic discussions, and
.
it
confine
should
of
formulation
a
terms that the
in emphatic
indicated
also
was
conference
strictly
itself
"Western European"
the
to
agreement.
general program of Chancellor
arrangements in Western
This conforms to the
Adolf Hitler for amicable
remain untied with
the Balkans and Eastern Europe.
The
Europe, while German hands
respect to
invitation was even more
enigmatic, for Rome preferred to utilize the peculiar
phrase "in principle" when advising London of
acceptance of the invitation. Somewhat disconcert¬
ing to the other countries was the concurrence of
Italian
acceptance of the
Italian moves, which strengthens
German and
the
the
of
impression
far-reaching
a
,•
British Government
The
fact that it
their
made
secret of the
no
nettled by these developments and
was
In a dispatch to the
probable significance.
York "Times" of last
New
rapprochement
countries.
between the two fascist
Monday from "Augur,"
frequently expresses the views of the British
who
Foreign Office, it was remarked that the British
Government is under no illusion as to the gravity of
The satisfaction felt in London re¬
situation.
the
garding the German and Italian acceptances of the
a new Locarno conference was tem¬
invitations to
pered, it was indicated, by the conditions, which "at
best
to
seem
mean
long period 'of haggling and
a
the meeting takes
place." If obliged to admit failure, the London dis¬
patch remarked, the British Government "will pro¬
possibly
ceed
the
before
breakdown
a
to transform the
general consultations among
general staffs of Great Britain, France and Bel¬
into
gium
committee,
permanent, military
a
as
promised last March when the Powers met in Lon¬
don to discuss the situation created by the German
reoccupation
of
demilitarized
the
But such British
Rhine."
overshadowed
on
as on so many
Government's initiative in
German
affairs of Continental
in
Berlin
on
were
the
again
other
past, by indications of the
occasions in the recent
made
intimations
Wednesday,
on
zone
the diplomatic
Europe.: Announcement was
that day of
a
new
agreement
Germany and Lithuania, which settles not
between
only the trade problems of the two countries but
A brief
joint statement said that the agreement was made
"primarily with the intention of improving mutual
relations and promoting particularly the political
many
The
relations."
Memel
peace,
from the
new
list
"agreement appears to remove
of danger spots to
European
and it also suggests that the Reich is moving
serenely toward
all its
problems as well.
of the political
an
adjustment of relations with
neighbors, in complete accord with the spirit
of those peace
proclamations of Chancellor Hitler
that formed the
subject of the unanswered British
questionnaire to the, German Government.
viewed as a contest
with the Fascist
or the Socialist Powers of Europe, and there wiere
indications that some of the Fascists were willing
to run grave risks in an endeavor to sway Spain to
the
fighting in Spain may be
week, much
tries
regarding
Under the
wage
concern was
the
manifested in other coun¬
possibility
of
entanglement.
leadership of the French Government, an
effort is under way to
nations in the
insure neutrality by other
struggle between the Spanish Right
and Left forces.
This action
of Premier Leon
Blum, which itself is Leftist, was
siderable
conversations
the diplomatic
in
success
regarding neutrality.
problem of foreign reactions to the Spanish
consideration immediately after the
The
crisis received
incidents late last
Sev¬
eral airplanes, without national markings or identi¬
fications, were forced down in French Morocco, and
on investigation it appeared that the machines were
Italian military airplanes, each carrying four ma¬
chine guns and piloted by regular Italian air force
flyers. They were destined for the Spanish Fascist
insurgents in Spanish Morocco. The government at
started, but a series of
rebellion
plain the need for hasty measures.
week made
admit responsibility for the inci¬
Rome refused to
international sensation naturally was
by the French disclosures. Gibraltar reports
Saturday indicated that "many" foreign air¬
dent, but an
caused
of last
had arrived in pre¬
which is controlled
by the insurgents.
It was reported, but not con¬
firmed, that German Fascists were aiding General
craft, including 18 from Italy,
ceding days in Spanish Morocco,
Franco
Francisco
his rebels.
and
Much popular
indignation was caused in France, where large con¬
tingents of Left sympathizers
promptly departed in
special trains for Spain with the aim of offering
their services to the Left Front regime in Madrid.
held in Russia
with the
were contributed
Huge popular demonstrations were
to
the
emphasize
Madrid
sympathy felt there
regime, and large sums
to aid the
Spanish Socialists.
Alarmed
by the signs that all of Europe was tak¬
moved
neutrality.
ing sides in the Spanish conflict, France
r
rapidly last Saturday to insure official
government" in sup¬
of the action of "one
In view
plying the Spanish rebels with war materials, Pre¬
mier Leon Blum
the
proposed that all interested Euro¬
governments refrain from exporting arms to
pean
belligerents.
It
was
Mediterranean Powers
the first to
reply,
by London
on
dition that
a
rigid policy of non¬
full agreement was expressed
as
Tuesday, subject only to the con¬
Italy also comply with the French pro¬
In the British note the suggestion was made
posal.
that
suggested also that the
adopt
The British Government was one of
intervention.
Germany and Portugal also should be included
in the group
of nations pledging neutrality.
countries that lined
tion for strict
Belgium,
up
other
Other
rapidly behind the sugges¬
neutrality included Germany, Russia,
Holland and
principle"
"in
cepted
Czechoslovakia.
Italy ac¬
Thursday,
condition
on
halt the
neutrals
on
enrollment, of
volun¬
by the French regime
ganda in favor of either faction in Spain.
As for the
after
the
the
Madrid
rebels
their
northern
epitomizes the struggle between opposing
But it
one sense
are
loyalists
fronts, but
compared
and
reports, it would appear that
regime had rather the best of it.
reported last
conflict
claims
conflicting
checked with neutral
by the growing realization that the Spanish
In
The rebels and the
continued to claim vast successes on all
dictated
political groups throughout Europe.
fighting within Spain, no great change
is to be noted this week.
miles of
Fortunately, France is achieving a con¬
their side.
teers, the raising of public subscriptions and propa¬
WHILE Spanish insurgents and civil war con¬
their bloody loyalists this
tinued to
alignment of the country
for the
that
Spanish Crisis
1936
Aug-
Financial Chronicle
812
The
Saturday, for instance, that
armies
had
advanced
to
\yithin 15
Madrid, with capture of that city imminent.
was
indicated
on
Tuesday by Madrid officials
and neutral observers alike that severe
fighting still
Volume
in progress
was
Chronicle
Financial
143
in the passes
order
3C to 40 miles north of the capital
finally admitted that their "progress" is slow in the
north, but
they launched
attack
an
the
to
along the northern coast which promises to develop
into
one
civil
war.
of
the
At
AT THE request
Saragossa the Left Front forces are*
in
the
Leftists.
The
Fascists,
Since the
tinue
for
of the
Spanish
weeks
months
to
made to evacuate neutral
were
continued
gees
France and
for their
to
crowd
the
Spain, and it
Monday that
on
than 500 had departed with
the aid of such officials.
in
Spain
The
carefully protected
were
checked, it
American property
said, with
was
Spanish Government
and
rights
violations
view to future claims.
a
was
urged officially
on
of
in
by
1933
the
nationals, and in general
procedure of other neutrals with regard to their
nationals
and
property
rights
in
Spain
closely
resembled the
measures
taken by the United States
Government.
The civil
war
already is said to have
cost the lives of several British
ber of
subjects and
a num¬
Germans, which complicates the position
ma¬
terially.
The only available estimate of Spanish
casualties
comes
from
France, and it indicates that
oc¬
specious pretext that the
obligations had been contracted by the unconstitu-
tional Machado
The Cuban Supreme Court
regime.
disposed of such contentions early this
it
indicated
was
month ago
a
and
year,
by the Cuban Secre¬
tary of the Treasury, Dr. German Wolter del 'Rio,
that discussions would be welcome.
conference
the various groups
used by some foreign
were
Default
certificates.
the
on
ican
Airplanes
of banks, and about $20,-
a group
contractors'
a
property.
long last has taken the initia¬
studying and remedying the trouble.
Thursday to provide adequate protection for Amer¬
nations to evacuate their
be
publicly in the United States; $20,000,000
curred
indicated in Washington
was
more
will
however, that the
obligations consist of $40,000,000 5%% bonds
000,000
American diplomatic and consular
agents circulated official warnings for Americans
to leave
It is encouraging,
of advances
Portugal, and onto the vessels provided
safety.
difficult and
doubtless
negotiations
toward
floated
into
borders
The problems
are
The
nationals, and refu¬
over
approxi¬
on
tive
all efforts
come,
the
Cuban Government at
unquestionably will con¬
war
and
protracted.
struggle probable.
and
Havana, last
largely in the United States.
complex,
Spanish ports from Morocco, which makes
intensification
held
are
involved in this default situation
transport several thousand of their adherents to
southern
the
all
mately $80,000,000 of public works obligations which
the other hand, managed
on
in
started
were
Monday, regarding the default by Cuba
part of Spain some
likewise is said to have been made by the
progress
to
southern
extreme
approved
throne,
of the Cuban Government, formal
conversations
reported to have defeated their Fascist opponents,
and
Greek
Cuban Debt Negotiations
sanguinary conflicts of the
more
of social and economic im¬
program
King George, who was recalled only
edicts.
loyalists
on
a
recently
The rebels
of the Guadarrama hills.
and
provement.
tions
The
and
Invitations for
representatives of
of holders of the defaulted obliga¬
the last week-end.
over
Foreign Bondholders' Protective Council, Inc.,
as
its
delegates Dr. Dana G. Munro, head of
Department of History at Princeton University
and
chief
former
of the
is
extended
journeyed to Havana
named
the
were
of
the
Latin American
Department of State.
division
The banking syndicate
represented by Shepard Morgan, Vice-President,
and Adam K.
Chase
Geiger, Second. Vice-President of the
Bank.
National
Large holders of the
35,000 of the combatants have lost their lives in
tractors' certificates also ,are
the strife.
dispatches indicate
conducted
for
that the negotiations
Cuban
the
con¬
Havana
represented.
will be
Government
by
Greece
Dr.
del Rio.
GOVERNMENTALtoward dictatorial methods in
trends in Greece have been
steadily
rather
recent years,
on
and the
process was
Wednesday, when the Cabinet headed by Premier
John Metaxas decreed martial law and the dissolu¬
tion of the Parliament.
uted to the
Discount Rates of
Foreign Central Banks
nearly completed
These measures
were
attrib¬
THERE have been no changes during the week in
of
of the foreign central
discount rates
the
banks.
Present
any
rates
at
the
leading
centers
are
shown in the table which follows:
necessity for combating "a Communist
DISCOUNT RATES OF FOREIGN
CENTRAL BANKS
plot tending to cause serious trouble in Athens and
other
an
cities."
Troops
attempt at
unions thus
a
posted in Athens, and
prevented.
A 24-hour strike had
by the unions in protest against laws
that fixed minimum wage
ers' claims to
obligatory arbitration.
in essential
The MetaxasV
services, and prepared to call them
to the colors if necessary
government circles it
taken
were
Metaxas
not
to prevent stoppage.
In
was
insisted that the
measures
Opponents of the
regime in the Chamber of Deputies
ports that were permitted to move
...
July
10 1935
4— July
Austria
Batavta
1 1936
Mar.
over
Holland
2
May
Bulgaria
15 1935
234
7
July
Hungary...
4
Aug. 28 1935
3
Nov. 29 1935
3
June 30 1932
334
434
3.29
May 18 1936
Apr.
6 1936
3.65
234
Mar. 11 1935
Chile
4
Jan.
24 1935
434
Java
Colombia..
4
July
18 1933
5
Jugoslavia
3
Jan.
1 1936
Danzig
5
Oct.
21 1935
Denmark..
334
Aug. 21 1935
2
June 30 1932
.
Lithuania..
5
Sept. 25 1934
Dec.
France
3
July
4 1934
4
7
..
Greece
9 1936
Sept. 30 1932
Oct.
13 1933
5
434.
June
2 1935
5
Feb.
1
July
1 1936
May 28 1935
May 23 1933
434
6
334
634
1935
334
Morocco
6
Norway
534
634
334
234
234
534
434
Poland
5
Oct.
Portugal...
5
Rumania
434
334
Dec.
South Africa
4
Spain
5
5
Sweden
734
Switzerland
234
234
6
Dec. 13 1934
Czechoslo¬
4
334
43*
Italy.
Ireland
Aug. 15 1935
...
6 1936
Japan
6
Estonia....
Rate
3
...
Canada
vakia
vious
India
4~
1 1935
Belgium
Date
Established
..
4
25 1933
534
7 1934
6
May 15 1933
July 10 1935
4
Dec.
1 1933
3
May
2 1935
2
534
were
Foreign Money Rates
re¬
the wires.
and
IN LONDON open market discount rates 9-16% on
Friday
9-16%,
against for short
.Friday of last week, and 9-16% for three months' bills
reorganized
the
Cabinet
posts of Minister of the Army, Navy, Air and For¬
Close associates of the Premier
were
placed in charge of other offices. * A declaration of
government
334
334
Effect
Aug. 7
Coiintry
merely the Premiership, but also the
Metaxas
eign Affairs.
Rate
Argentina..
Germany
entirely non-partisan.
assumed not
vious
Finland
molested, according to the heavily censored
General
Date
Established
England...
scales and subjected work¬
regime, aroused by such tactics, mobilized all work¬
ers
Effect
Aug. 7
Pre¬
Rate in
Pre¬
Rati in
Country
brief general strike by Leftist labor
was
been ordered
•
were
policy
promised
the
maintenance
of
bills
as
on
against 9-16%
call in London
open
at
were
on
on
as
Friday of last week.
Friday
wras
H%.
Money
on
At Paris the
market rate remains at 33^% and in Switzerland
23i%.
*
■'
Financial
814
of the increase in the
The total out¬
standing is now up to $4,553,979,000 marks and the
reserve ratio is down to again 1.7%, the low record
which was established several weeks ago. Other daily
maturing obligations declined 5,901,000 marks. In¬
creases were recorded in bills of exchange and checks,
reserve
in foreign currencies advances and invest¬
ments.
Following we present a tabulation of the
changes in the items during the quarter and a com¬
parison of the amounts of the different items for
being 437,000,000 marks.
latest week
THE statement for the week in goldAug. 5 shows
ended holdings of
sizeable
further
a
gain
£244,004,028, which
As
the bullion gain was more than offset by an expan¬
sion of £5,836,000 in circulation, reserves declined
£2,780,000. The reserve ratio remained the same as
the previous week, 33.30%, a year ago it was 30.13%.
Public deposits fell off £24,687,000,
while other
deposits increased £16,591,382.
The latter consists
£3,055,784, bringing the total to
with only £193,344,135 a year ago.
compares
bankers'
of
which
accounts,
£17,444,534, and
rose
.
_
REICHSBANK'S COMPARATIVE
£6,465,000 and
Government securities decreased
on
three years:
Changes
July 31, 1936 July 31. 1935 July 31, 1934
for Week
those
other
on
securities increased £1,185,523.
The
and advances which
latter consists of discounts
rose
£1,799,773, and securities, which fell off £614,250.
change
Below
the
are
■.■+•■%•
"■
years:
in the 2% discount rate.
figures with comparisons for other
made
was
■.;+
OF ENGLAND'S
BANK
^
(i
Reserve In foreign curr.
Bills of exch. and checks
coin__
Notes on other Ger.
bks.
Advances..
...
Investments.
Liabilities—
+437,000,000 4,553,979,000 3,877,783,000 3,768,495,000
649,027,000
742,940,000
787,246,000
—5,901,000
176,853,000
224,032,000
8194,283,000
Notes in circulation—
Other daily matur.
Aug. 5
Aug. 7
Aug. 8
1935
1934
Aug. 9
1933
Aug. 10
1936
£
£
£
£
£
1932
Other liabilities
*
454,406,000 411,835,000 392,806,331 384,974,512 370,819,429
17,240,000 23,882,943 19,412,087 10,667,587
17,605,000
131,185,924 120,507,816 117,661,236 140,692,030 119,901,329
92,667,605 82,662,217 82,001,205 92,893,707 85,322,561
Other accounts
38,518,319 37,845,599 35,660,031 47,898,323 34,578,768
Govt, securities
89,943,000 87,201,044 83,253,781 88,295,963 70,553,993
17,057,710 23,410,498 34,573,878
Other securities
27,410,074 27,193,701
6,985,141 11,035,865 15,236,346
Disct. & advances8,938,075 14,078,313
13,115,388 10,072,569 12,374,633 19,337,532
Securities
18,471,999
Reserve notes & coin
49,597,000 41,508,000 59,380,598 66,555,409 43,599,868
Coin and bullion
244,004,028 193,344,135 192,186,929 191,529,921 139,419,297
33.39%
41.56%
41.95%
30.13%
33,30%
Propor. of res. to liab
Circulation
oblig
Propor. of gold & for'n
curr.
Reichsmarks
74,874,000
93,996,000
71,925,000
16,848,000
30,176,000
24,524,000
3,147,000
5,887,000
5,353,000
+ 121,000
+418,520,000 4,612,933,000 3,838,432,000 3,431,105,000
226,276,000
158,268,000
al61,316,000
*
5,656,000
4,611,000
109,027,000
52,268,000
66,750,000
+25,328,000
713,464,000
680,906,000
530,929,000
+266,000
653,623,000
651,571,000
8547,662,000
No change
abroad
Silver and other
Reichsmarks
'
—2,027,000
Gold and bullion
Other assets
COMPARATIVE STATEMENT
Reichsmarks
Reichsmarks
Assets—
Of which depos.
No
STATEMENT
Loans
which decreased £853.152.
other accounts,
Aug. 8, 1936
larged expansion, the amount
England Statement
Bank of
Chronicle
other banks expired March
2.1%
4.99%
1.70%
to note circul'n.
Validity of notes on
31, 1936.
a Figures
of July 7
latest available.
Public deposits
Other deposits
Bankers' accounts.
New York Money
DEALINGS in the New York money market re¬
minimum this week, with rates
mained at
carried
a
unchanged. The small up¬
bankers' bills made
and quite
over
Bank of France Statement
.
further increase
holdings, which brings the total to 54,941,706,991
francs, which
the
low
The
compares
19 last.
ratio dropped slightly to 58.61% from
reserve
week
a
francs,
1,349,000,000
included
since
its
weeks
appearance
and
ago,
now
Among the items
advances
on
discounted,
ad¬
totals
which decreased this week were
bought abroad, and credit balances abroad.
comparison of the different items for
FRANCE'S
OF
COMPARATIVE
.
Gold holdings
July 31, 1936
Aug. 2, 1935
Aug. 3, 1934
Francs
Francs
Francs
Francs
+109,761,178 54,941,706,991 71,630,295,199 80,486,582,153
12,756,163
—3,000,000
17,285,765
7,858,096
French commercial
bills
discounted.,
+606,000,000
b Bills bought abr'd
c Adv.on Treas. bills
—3,000,000
—467,000,000
+ 134,000,000
Note circulation.i._ + 1,349,000,000
Credit current acc'ts
—405,000,000
Adv. against secure.
d Tem. adv. to State
+468,000,000
Propor'n of gold on
hand to sight liab.
—0.48%
a
c
Includes
Previously
7,295,231,078 6,646,424,882 3,703,827,553
1,255,229,276
1,231,128,539 1,141,236,782
8,591,398,335
3,555,072,574 3,256,956,285 3,175,426,195
85,893,395,580 82,212,766,880 81,717,825,030
7,848,054,800 13,129,353,153 19,001,635,538
5,742,025,000
58.61%
75.13%
79.91%
purchased in France,
b Includes bills discounted abroad,
included in French commercial bills discounted,
d Representing
bills
drafts of Treasury on 10-billion-franc credit opened by Bank.
Bank of
Germany Statement
with 93,996,000 marks a" week ago.
com¬
Notes in
circulation, for the second successive week showed a
Stock
Exchange,
showed
decline of
a
$21,161,834 during July, and the aggregate at the
end of that month was
$967,381,407.
New York Money Rates
DEALINGExchange from day toloan rates on the
in detail with call day, 1%
Stock
the
was
ruling quotation all through the week for both new
loans and renewals.
The market for time money is
still
at
ply of
a
standstill,
no
week.
this
continue
having been
nominal at
Trading in prime commer¬
The sup¬
has been fairly large and the demand
Rates are %% for extra choice
running from four to six months and 1%
names
names
transactions
Hates
has been very active this week.
paper
continues to grow.
for
less known.
Bankers' Acceptances
THE market quietprime week, dueacceptances the
for this bankers' largely to has
been
extreme
eral
a
reducing the total to 71,925,000 marks which
pares
York
very
shortage of high-class bills.
Rates show no
Official quotations, as issued by the Fed¬
Reserve Bank of New York for bills up to and
change.
THE statement for the fourth quarter holdings
loss of 2,027,000 marks in gold of July
shows
New
cial paper
for Week
a
tions,
134% for all maturities.
STATEMENT
—Changes
Credit bals. abroad,
Exchange held to 1% for all transac¬
York Stock
reported
several years:
BANK
rate was 0.23%, computed on an
Call loans on the New
annual bank discount basis.
5,742,025,000 francs.
Treasury bills, which fell off 467,000,000
We give below a
$50,000,000 discount bills due in 273 days,
and the average
in the statement several
francs; creditor current accounts, 405,000,000 francs;
and bills
unchanged for,
sold last Monday a further
The Treasury
months.
issue of
Commercial paper
and at levels that have been
scarce
monthly tabulation of brokers' loans, issued by the
bills
This latter item has increased steadily
first
is
Other items which increased
circulation expanded
against securities, and temporary advances
to the State.
is holding, but business in these
which brought the total to
commercial
French
weeks ago
while time loans for maturities up to six
months were offered at 1%%, with takers few.
The
Note
ago.
85,893,395,580 francs.
vances
with 53,952,610,373 francs,
point for the year, reached June
59.09%
revision of discounts on
obligations now is very modest.
THE statement for the 'week ended July 31in gold
of 109,761,178 francs shows
a
ward
some
2%
2%
2%
2%
2%
Bank rate
Market
including 90 days,
four
months,
and six
are
34% bid and 3-16% asked; for
5-16% bid and \i% asked; for five
The billis 34%
running from 1 to 90 days, %% for 91- to
months, %% bid and 5-16% asked.
buying rate of the New York Reserve Bank
for bills
Volume
Financial
143
Federal
main
banks'
Reserve
holdings of acceptances re¬
for acceptances are nominal
concerned,
are
as
in
far
so
the dealers
as
they continue to fix their own rates.
nominal rates for open
The
Open market rates
unchanged at $3,092,000.
market acceptances are
-—180 Days
Bid >
Asked
Prime eligible bills.
—150 Days—
H
90
Days
Asked
hi
16
uneasiness
DELIVERY
FOR
*
30
Asked
Bid
WITHIN
Days 1 ■
Asked
K
J16
H
Eligible member banks
H % bid
Eligible non-member banks
H % bid
Spanish civil
induced
foreign exchange trading to limited propor¬
Nevertheless, except for the
movement of
New York security markets,
sterling is practically the only currency in demand.
a
few weeks the demand for British notes on
the part
of European hoarders, particularly for French
For
account, seemed to subside, but has been renewed
this
Discount Rates of the Federal Reserve Banks
of the
because
spirit of caution in all financial centers which has
tions.
16
DAYS
THIRTY
the bank holiday in London but
felt
Fears for the outlook in France have
war.
a
of importance in the foreign
The relative quiet at present is
foreign funds to, the
Days
Bid
new
ascribed not only to
to the
Asked
Bid
'u
60
Bid
Prime eligible bills
Asked
Bid
H
—120 Days—
nothing
exchange market.
reduced
follows:
as
There is
The
121- to 180-day bills.
120-day bills and 1% for
815
Chronicle
week, indicating beyond doubt the widespread
lack of confidence that the French Government can
bring about
an
improvement in the economic situation
THERE have beenofno changes this week banks.
rediscount
the Federal Reserve in the
of that country
The
ultimate devaluation of the franc.
rates
now
the
for
classes
various
of
at
paper
in effect
the
following is the schedule of rates
different
*
Reserve banks:
sents
Dale
Previous
Aug. 7
Established
Rate
Feb.
81934
Feb.
21934
2
Jan.
17 1935
2
May
Atlanta
2
Jan.
9 1935
14 1935
Chicago
2
Jan.
19 1935
2M
St. Louis
2
Jan.
31935
2K
Minneapolis
2
May
14 1935
Kansas
2
May
hoarding demand for the metal.
2
2M
2V>
New York
Philadelphia
May 11 1935
Cleveland
2
Dallas
_
10 1935
May
8 1935
2
City
Feb.
16 1934
2X
2V>
foreign funds in London for security is be¬
tion of
2 X
lieved
be
to
largely responsible for the steady ac¬
quisition of gold by the Bank of England.
2M
of
2Y>
Sterling Exchange
of
circulation
market
The
exceptionally dull in the
was
past week, due largely to the fact that there was
practically
no
closed in
were
holiday
season
in London is
now
in full swing, interest
accordingly, at
an
ebb. The pound
continues to flow to London from all
The comparative weakness of sterling in
of
partly to the steady
move¬
European funds into American securities.
On the. other hand,
sterling is
far favored in all
so
quarters that the rate would, if left to itself, be much
with relation to the
firmer
the
that
change
regulate
ex¬
$5.01 9-16 and $5.02 9-16 for bankers' sight
a range
and
$5.0234 last week.
has
been
between
range
The
of between $5.01 5-16
range
In
of between $5.01 7-16 and
The high level of industrial
$5.02^
last
quarters, however, it is believed that the
some
England is likely to limit its gold purchases
after the
peak of circulation is reached this month.
record
high of £454,406,000, which compares with £411,835,000
a year
earlier, and with £351,618,000 in the
just prior to the suspension of gold
Bank of England bought
bank's statement
in
This week the
1931.
£3,056,000 in gold bars, bringing its total purchases
since the
beginning of the
of which has been
£244,040,028, as compared with £193,344,135 a
earlier, with £150,000,000 recommended as a
year
minimum
by the Cunliffe committee, and with £126,-
on
Paris, the London
and the price
open
London check
market gold price,
paid for gold by the United States:
MEAN
LONDON
suspension in 1931.
Undoubtedly the
vye 11
British authorities- have some
conceived policy in the steady acquisition of gold
which involves other
Since
Holiday
Aug. 3__
76.113
Tuesday, Aug. 4—
Monday,
Aug. 3
Tuesday, Aug. 4_
PAID
138s. 8d.
Holiday
138s. 7^d.
Wednesday, Aug. 5_
76.137
Thursday,
Aug. 6_
76.190
Friday,
Aug. 7
76.225
Wednesday, Aug. 5
Thursday,
Aug. 6_
Friday,
Aug. 7_
FOR GOLD BY THE UNITED
considerations than note circula¬
could be
I3fcs. 6d.
Monday, Aug. 3
—
Tuesday, Aug. 4
$35.00
35.00
35.00
notes
The
which do not call for gold
great volume of foreign money
London since 1932 for safety and
knowledge that there
redemption in gold.
out, they will do so without
the
gold
reserve.
When these funds
making
any
demand
Whatever the British policy is,
it is certain that it will not be
STATES (FEDERAL
fully disclosed for
some
years
Wednesday, Aug. 5
$35.00
Thursday,h
Aug. 6
35.00
"
Aug. 7
35.00
Friday,
on
no
been suspended
special reason for maintaining a high
which has fled to
138s. 7d.
138s. 6d.
have
payments
investment went there in the
move
RESERVE BANK)
Saturday, Aug. 1
no
gold
against
reserve
LONDON OPEN MARKET GOLD PRICE
Saturday, Aug. 1.
is
there
redemption.
CHECK RATE ON PARIS
76.160
Saturday, Aug. 1
Monday,
mean
previous to gold
880,252 in the Bank's statement
tion.
tables show the
to £43,101,175, most
gold holdings are now at record high, standing
banks'
at
year
acquired since early in March. The
,
The following
PRICE
occur.
The bank's note circulation now stands at the
for cable transfers
$5.01}^ and $5.02^, compared
week.
rate
so
The range this week has been
bills, compared with
a
aim to
to prevent sterling from rising seriously in
as
between
with
dollar, but for the fact
British authorities
of the dollar.
terms
However, it is
sharply.
activity precludes the possibility of greatly reduced
Bank of
terms of the dollar is due
ment
decline
circulation.
money
quarters.
be
few days owing to the August holi¬
normally
circulation will
on
extremely firm in terms of the French franc or
gold and
The peak
England should
hardly likely that the usual substantial decrease in
Monday all London markets
observance of the bank holiday.
The
in the markets is,
is
should,
business done in the London market
Saturday, and
on
a
Bank of
the
days, but before the end of the month circulation
STERLINGeasier than is firm, the past several
exchange during although ruling
slightly
weeks.
of British notes and the accumula¬
This hoarding
2
reached within
Course of
premium also reflects an active
The
London market.
2H
2
Boston
.
and at this figure repre¬
premium of about 10 pence, which makes it
a
profitable for arbitrageurs to sell European gold in the
Rate in
Effect on
San Francisco
Currently the London open market gold price is
around 138s. 7d. per ounce
DISCOUNT RATES OF FEDERAL RESERVE BANKS
Federal Reserve Bank
and pointing to the expectation of
to come, when world economic conditions be¬
come
more
nearly stable.
In
any
case
the recent
large additions to the gold reserve have materially
Financial
816
potential basis for credit operations
of easy money.
broadened the
and insure the continuance
London markets.
in
abundant
is
Capital
All
The trade
encouraging.
factors continue
economic
position outlook points to sustained activity through
exceedingly wide
an
of industrial
range
nbw be increased by the
the number of which should
trade
new
concerns,
agreement with Russia, involving the ex¬
for
sterling
steady in a quiet market.
was
op
declines in the number
is lifting fixed interest securities
The monetary ease
simultaneously with industrial securities, giving fresh
stimulus
offering of
the
to
municipalities
British
gilt-edged
new
offerings in the
being heavily
making
are
loans.
market which in nearly every case are
The
oversubscribed,
corded
has
number of British unemployed as
the
reduced
boom
industrial
current
•
transfers.
On
quiet market.
was $5.01 %@$5.02% for bankers' sight
$5.02% for cable transfers. On Fri¬
Thursday the pound was firmer in a
from figures
of the
same
total number of insured
date last year, and 50,604
of this year.
The
workers, is
employed, exclusive of agri¬
During the
10,895,000.
now
the number of unemployed in the coal in¬
dustry decreased approximately 59,000, in the cotton
industry 33,000, in engineering trades 29,000, ship¬
building 17,000, iron and steel industriesY1 1,000.
Two- and three9-16%, four-months' bills 19-32%
is
money
months' bills
are
on
)4%-
at
market continues
destination, believed by
for unknowm
London observers to be
On Satur¬
foreign hoarders.
£137,000. On Monday,
owing to the bank holiday, the market was closed.
there
day
On
available
was
was-taken,
£285,000
Tuesday
on
Wednesday
and on Friday
The Bank of England bought approxi¬
£535,000,
Thursday
on
£165,000.
£287,000
mately £3,056,000 in gold bars during the week.
At the Port of New York the gold
the
Reserve Bank of New
York,
was as
GOLD MOVEMENT AT NEW YORK, JULY
movement for
follows:
above
figures
for
are
the
week ended
on
On Thursday there were no imports or
Wednesday.
metal,
or
change in gold held ear¬
marked for foreign account.
On Friday $3,818,600 of
received of which $2,250,900 came from
Canada, $1,279,100 from India and $288,600 from
There
were
no
exports
of the
metal
or
Canadian exchange
discount of
during the
1-16% to
a
week ranged be¬
premium of 1-32%.
Referring to day-to-day rates sterling exchange on
day,
last
was
firm in
extremely
an
Bankers' sight was $5.01
transfers
August
was
was
quoted
holiday in
closed.
limited
9-16@$5.0111-16;
$5.01 9-16@$5.01 11-16.
bank
London market
sight
been
made
of
Bank
appointed.
lished
but the
public,
At this
council had not
Governor of the
had
Labeyrie,
been
\
•
signed by the deposed regents pub¬
July 31 constitutes
on
Aug. 13.
new
Emile
M.
France,
on
to the
an
entire condemnation
of the reforms of the Bank of France and states that
the reforms
the
imperil the rights of the shareholders and
public
closing
The
interest.
of the
passage
regents' declaration states: "We view the times ahead
with great
The hopes of
apprehension.
to be distributed to every comer
manna
between credit and subsidies
promises constitute
future.
for the
and
the
In
vently hope that the
a generous
and confusion
ambiguity in
formidable
a
un¬
menace
country's interests
new
fer¬
we
management will succeed
escaping submersion by the flood of claims from
interested
parties and that from actual tumult
the least possible harm to
On Mon¬
Greaf Britain,
the
In New7 York bankers''
$5.01_9-16@$5.01 11-16;
our money
may
depressing the franc
has been
week and
on
be growing
sufficiently to make shipment of
The lower
gold point is
an
flow
outward
of
cable
Any
new
gold from Paris to
is hardly
any
exodus
possibly
ment
was
come
possibility
during recent
would probably
only enough to readjust foreign trade
commercial account.
estimated
°
.
New York take place, there
movements.
Par of the
now
at 6.58 5-16.
Should
worse.
it seemed that the
several occasions
gold from Paris to New York profitable.
franc is 6.63.
further
was a
foreign trade balance is decidedly
heavy selling of francs for the past
franc would decline
can
and to
economy."
that it would reach the volume shown
change inrgold held earmarked for foreign account.
market.
council to take office
new
a
There
Increase: $18,000
exports^of the
cable
of
adverse to France and appears to
Change in Gold Held Earmarked for Foreign Account
\
Saturday
important of these was the dismissal of the
The most
regents of the Bank of France on Friday last in favor
realization that the
$1,786,000 total
a
heighten uncertainties felt as to the French situation,
other internal factors have shaken confidence.
Another factor
4,000 from Guatemala
tween
can
Spain has served to
but
French
None
14,000 from Nicaragua
Russia.
since
ness
doubt that the civil war in
no
emerge
140,000 from Russia
net
FRENCH francs haveofbeen showing decided weak¬
Friday
last week. There
be
Exports
Imports
was
Cotton and grain
$5.01%.
at
closed at $5.02%.
Continental and Other Foreign Exchange
in
30-AUG. 5, INCLUSIVE
$1,628,000 from India
gold
bills
grain
for payment
realizable
reported by the Federal
week ended Aug. 5, as
The
$5.0134? 90-day bills at $5.0134?
(60 days) at $5.01)4? and
at
for payment
A declaration
offer in the London open
taken
be
bills
documents
7-day
$5.02% for cable
demand and
for
Commercial sight bills finished at $5.02%,
transfers.
23-32%.
and six-months' bills
to
$5.0234
60-day
Closing quotations on Friday
transfers.
cable
were
writing the appointments
Money in Lombard Street continues unchanged.
Day-to-day
Gold
and $5.02 1-16@$5.02%
$5.02 9-16 for bankers' sight
re¬
less than the number during June
last year
$5.02 1-16@
day sterling was steady, the range was
July 20 ,to 1,652,072, a decrease of 320,869
on
cultural
range
cable
for
$5.01 11-16@$5.01 15-16
for
unemployed.
The
$5.01%@$5.01% for bankers' sight bills and
was
payments guaranteed by the British
Another hopeful sign is the official
forecast of further substantial
transfers.
cable
$5.01 11-16
The range
under
and $5.019-16@
On Wednesday
sight
bankers'
$5.01 11-16 for
and $5.01
Government.
The range was $5.01 9-16@
firm in dull trading.
was
On Tuesday the pound
$5.01%@$5.01%.
transfers
penditure of £10,000,000 by the Soviets for British
goods
Aug. 8, 1936
Chronicle
balances
be
on
Practically all the gold which
from France for security and invest¬
shipped to this side since early in 1934.
This movement has been estimated at around $700,-
In view of the restrictions
000,000.
against
centers,
the
a
transfer of French
now
in force
capital to foreign
heavy outward movement of gold could
Volume
not be
expected
It
go.
to
Financial
143
matter how low the franc should
no
highly probable that
seems
drop to the lower gold point, the
Government
would
the franc
were
French
French
out of France
would have
within the ne^t
disconcerting effect
a
the
on
Min-
the Finance
as
frequently asserted publicly .that he expects a
large-scale repatriation of French balances before
Shipments of gold
that
would advertise
it
little success
gaining the confidence of French capital.
laws
Strict
recently passed, requiring all French citizens
to declare their
foreign held assets, in
create conditions favorable to
French balances abroad have thus far
On the contrary, confidence in the
has
been
further
shaken
become apparent after a
attempt to
an
general repatriation of
and
proved fruitless,
lapse of
a
again
has
French
few weeks.
with the United States will not be ap-
Aski marks consist of credits in Germany
which foreign exporters built
credits to buy goods from Germany.
transactions.
There
has
been
driven the rate
of
gold in the
market for hoarding is again in
open
During the past
few
weeks
has shown increases in gold
that the additions
the
are
result
to the
of
sales
Equalization Fund.
gold
by
paid
a
new
Paris reports
at this time
reserves
the
British
operating with
ing the London check rate
The
holdings.
For the past week
British fund has been
76.00 francs to the
the Bank of France
on
Exchange
or more
the
view to keep-
a
Paris steady at around
pound.
Governor of the Bank of France
recently
courtesy visit to the Governor of the Nether-
lands and to Dr.
Reichsbank.
Hjalmar Schacht, President of the
This
will
be
followed
by
visit to
a
up
in German-American
use
demand
a
from
to 22.75 cents
trasted
with
enjoys
the
aski
July 29, the rate
This is
with respect
necessarily
so
mean
trade
that American banks
well
the tourist mark
as
of the
matter
These marks
practicability of maintaining the fiction of free
gold marks and at the
with
reports of probable attempts to effect currency
stabilization.
M.
Labeyrie while in Amsterdam de-
clared that discussions
would be
premature and purposeless.
extension of world
out
.
regarding geneial stabilization
same
previous legal stabilization, coupled with read-
,
,
,
,,
,
between
justment
recent remarks
.
the
from official quarters in Paris would
to indicate that the Government-is
seem
inclined
to
Other
currencies.
consider
the.
possible
more
oi
de-.
valuation.
...
.
The German mark situation has become if
more
complicated.
the Balkan
is
Several weeks
ago,
.
0
anything
while visiting
countries, Dr. Schacht of the Reichsbank
reported to have said in effect that the German
method
of
arranging imports
barter system
accepted
and
ago
of
and
exports
by the
peculiar to Germany would in time be
on
gold
United
the
to
°lparityir' Parity™
France (franc).
3.92
Belgium (beiga)
—
13.90
possible
ways
made
are
not the best of
to conduct international business.
Treasury Department
regulations
effective
July
some
11,
weeks
imposing
heavy countervailing duties against certain German
goods.
This
was
done to protect the American
mar-
against the type of dumping which resulted from
German artificial restrictions
on
exchange through its
6.59^
toie.87
8.91
19.30
(franc)
Holland (guilder).
32.67
32.68
to32.64
68.06
67.88
to67.97
40.20
FFe London check rate
76.29, against 76.18
New York, sight bills
at 5 57
16.85
5.26
sJzerla„d
at
Thiswtek
16.95
7.86^to
Paris closed
on
on
7.90
Friday
Friday of last week.
on
In
the French center finished
5-16, against 6.58% on Friday of last week;
011
cable transfers at 6.58-5-16, against 6.58%; and commercial sight bills at 6.55 5-16, against
Werp
and at
and
at
Ant-
16.85% for cable transfers, against 16.84%
16.85%.
40.20
6.55%.
belgas closed at 16.84% for bankers' sight bills
Final quotations for Berlin marks
Italian lire closed at 7.88 for bankers'
was
States
6.585i6to
6.63
transfers,
The United States
ket
still
dollar:
Dr. Schacht admitted that the present method
effecting the exchange of goods through what
ago
of 40.33.
practical basis than the currency
credit system hitherto prevailing.
Several days
as a more
substantially barter agreements
all
ing currencies
readily
necessity
com-
actual
an
The following table shows the relation of the lead-
Italy (lira)
.
various
a par
or
time conducting business
large variety of depreciated marks which
a
He said that
trade, however, is impossible with-
the im-
see
gold mark with
have given rise to
to the
point
to
seems
probability that Germany will.shortly
time.
some
in
These journeys
not
longer
be sold 'abroad and
can
have been in demand from Amsterdam for
upshot
does
pletely nullify its assumption that there is
September.
con-
are no
Montagu Norman, Governor of the Bank of England,new
the
As
that its abolition
German-American
to
able to liquidate their standstill credits.
as
now
the commercial mark
mark,
international market,
an
had
Amsterdam
on
quotation"as for the travel marks.
The
-
After
has since slipped to 21.25 cents.
same
-
sharp decline in quotations for
to the prohibition of their
banks
evidence.
a
commercial marks in the past few days due largely
trading.
and
The aski marks
practically confined to German-American trade
were
citizens have been
drawing heavily from/their savings
London reports that Continental buying
by German imports
up
of necessities from exporters who hitherto used such
French situation
hoarding
may
longer be used for payment of exports to the
United States; second, that henceforth private barter
no
proved.
had
First,
provided that the so-called "aski" marks
was
transactions
Government has
pointed out in
was
issued two decrees dealing with the matter.
that
French
practically
United
The
Berlin, would constitute hi^h treason in Germany,
Accordingly, the German Government on Aug. 1
repatriation has not taken place and would indicate
in
regulations
how much they benefit from Government subsidies,
Government, inasmuch
the
These
Germany.
Compliance with this order, it
molfement
1.
sidies to exporters.
stop imports from
States
Treasury order asked German exporters to disclose
to
measures
ister
Sept.
system of registered and blocked marks and its sub-
prevent
rigid
withdrawals except for an
few weeks
817
adjustment of the balance
take
new
of payments.
A gold
Chronicle
for
7 39
bankers'
in
on
on
PoIand at
2.21%,
with
closed at
Czechoslovakia
40.24
Bucharest
at
18.85,
and
40.25.
sight bills and
0.74,
2.21.
against
4.13%,
at
against
18>84? against 18>88; and
against
were
40.21 for cable
transfers, against 7.89 and 7.90.
schillings
exchange
4^314.
comparison
for cable
Austrian
sight bills and
on
Greek exchange
18.87;
against
0.74;
on
Finland at
closed
at
0.93% for bankers' sight bills and at 0.94 for cable
transfers, against 0.93% and 0.94%.
t
818
Financial
Chronicle
Closing quotations for
EXCHANGE on the countries neutral during Ex¬
the
importance.
war
shows
no
trends of
new
29.41, against 29.32
change transactions have been extremely limited for
several
days.
The Scandinavian currencies
sympathy with sterling.
land
have
currencies
parative
Both Switzerland and Hol¬
recently drawn gold from Paris
firm in terms of the franc.
are
ease
The
50.00, against 50.00; Singapore at 59.00,
against 59.00; Bombay at 37.95, against 37.89. and
Calcutta at 37.95, against 37.89.
com¬
of the Holland guilder in terms of the
Gold Bullion in
pound and the dollar is due largely to the outward
movement of Amsterdam funds for
banking and credit situation in
every way
count rate
indicate
rate
satisfactory.
last
was
investment.
Amsterdam
bank.
67.87, against 67.92
Friday
Swiss francs closed
at 32.57 for checks and at 32.58 for cable
against 32.61 and 32.62.
transfers,
Copenhagen checks fin¬
ished at 22.44 and cable transfers at
22.45, against
Checks
Sweden closed at 25.91
on
and cable transfers at 25.92, against 25.87 and
while checks
transfers at 25.26, against 25.21 and 25.22.
pesetas
were
Spanish
not quoted in New York.
four years:
The Buenos
to
Aires situation is
decidedly satisfactory.
Sharp increases have taken
place
leading
since
July
in
1
Wheat has risen 15 cents
flaxseed
11
cents.
a
Argentine
bushel,
a
These
exports.
8 cents, and
corn
higher prices for exports
during the second half of the
offset to
expected to
year are
large extent the effect of the heavy decline
in both the volume and the value of the
grain
ments
given
ship¬
in the first six .months of the year.
This is
the explanation of the recent sharp increase
as
in the
exchange value of the
England
Germany b
Spain
pesos
on
July 3 to 361.70
pesos on
Aug. 3.
per
The value
of the peso has therefore increased in this time from
26.72 cents
to
27.64 cents.
Market observers
be¬
lieve that the free market
quotation might with only
slight stimulus approach 30 cents.
The official quo¬
Argentine paper pesos closed on Friday, official
quotations, at 33.47 for bankers' sight bills, against
33.44 on
Friday of last week; cable transfers at 33
against 33The unofficial
against
27.65
official quotations
8.44 for cable
unofficial
5.90.
or
are
or
free market close
@27.70.
free market close
Chilean
exchange
5@5.19, against
Brazilian
was
milreis,
834 for bankers' sight bills and
transfers, against
5.19.
was
is
Peru
and 8.46.
The
5.85@5.90, against
nominally
is
_
Nat. Belg'm
Switzerland
Sweden
_
___
Total week.
£
193,344,135
573,042,367
3,191,000
90,775,000
60,450,000
57,372,000
100,971,000
45,399,000
19,794,000
7,394,000
6,602,000
192,186,929
643,892,657
2,559,200
90,555,000
69,609,000
1932
:
191,529,921
71,950,000
75,016,000
61,498,000
15,335,000
7,397,000
6,577,000
£
139,419,297
657,431,561
34,802,000
90,242,300
61,392,000
85,054,000
75,092,000
89,156,000
11,445,000
7,400,000
7,911,000
656,649,326
11,624,700
90;386,000
73,416.000
64,500,000
76,872,000
61,461,000
.
13,872,000
7,397,000
6,569,000
1,063,901,734 1,158,334,502 1,236,575,786 1,254,276,947 1,259,345,158
1,258,592,145
Prev. week. 1,058,333,210 1,240,432,404 1,235,062,284
1,250,700.698
Amount held Oct. 20, 1935: latest figures available,
b Gold holdings of the
Bank of Germany are exclusive of gold held
abroad, the amount of which the
a
£1,226,850.
Proposed Reforms in Court Organization
and Legal Procedure
Two
eral
proposals looking to improvement in the Fed¬
judicial system and to
tive administration of
quoted
nominal
at
at
25.15,
against 25.15.
speedy and effec¬
more
justice in certain
cases
have
lately been put forward which merit careful
con¬
sideration.
American
One is
Bar
a
proposal by
Association
for
Federal administrative court.
committee of the
a
the
The
creation
other,
of
a
report
a
prepared by members of the Boston and Philadel¬
phia bar for the Federal Bureau
of
Labor
Statis¬
tics, deals particularly with the difficulties which
legal procedure often offers to persons with small
means.
The report of the committee of the American
Bar
Association, the product of three
discloses
an
amazing situation.
of study,
years
Not less
than
73
Federal
agencies, the committee found, are exercis¬
ing semi-judicial functions as a result of the delega¬
tion
and
by Congress of semi-judicial authority to boards
other Executive
organizations. The delegation
of power extends to some 1300
instances
ing 276
classes
opinion
tation for bankers' sight is 33.47.
27.85,
'V" yr.'
.
1933
£
88,092,000
a42,575,000
53,508,000
106,862,000
49,723,000
24,077,000
6,553,000
6,604,000
Italy
Norway
1934
£
244,004,028
439,533,656
2,370,050
France
Netherl'ds
1935
£
in terms of the
peso
United States dollar, which is reflected
particularly
in the "free" market
quotation of the dollar which,
in Buenos Aires, has
dropped from 374.25
$100
-.a
present
exchange situation in these countries continues
improvement.
dates in the previous
y:
1&36
Banks of—,
major centers is quiet, although the general tone of
show
shown for the conesponding
year Is
EXCHANGE withthe South American countriesthe
in
harmony on
the exchange markets in
the
by special cable yesterday (Friday); comparisons
us
Denmark..
25.88;
Norway finished at 25.25, and cable
on
of
as
on
sight bills at 67.70, against 67.90.
22.40 and 22.41.
exchange) in the principal European banks
to
Friday of last week; cable
67.88, against 67.93, and commercial
at
following table indicates the amounts of gold
(converted into pounds sterling at par
respective dates of most recent statements, reported
are
on
European Banks
bullion
of
The Amsterdam private dis¬
of the Netherlands
transfers
1
in
reported at 1%%■, which would
Bankers' sight on Amsterdam finished
at
'""THE
The
is
probable early reduction in the rediscount
a
were
Hong¬
Manila at
these
as
checks yesterday
yen
Friday of last week.
on
kong closed at 31.22@31 5-16, against 31J4@31%
Shanghai at
30.17@3C% against 30.16@30^;
in
move
Aug. 8, 1936
regarding
the
of
cases.
any
specific
subject, the committee
ation approve,
Federal
Without
represent¬
expressing
bill
an
dealing with
proposes that the Associ¬
in principle, the establishment of
administrative
court
to
end
this
a
chaotic
condition. The essential purpose of the court would
be "to provide a means for the
gradual segregation
of
judicial functions
now
ministrative agencies
exercised
by Federal ad¬
(or hereafter proposed to be
lodged in such agencies), and to establish
pendent forum
functions
originally
on
or
for
the
exercise
of
issues both of law and of
on
review
of the
an
those
inde¬
judicial
fact, either
decisions
of
such
jurisdiction of the proposed court, the
com¬
agencies."
EXCHANGE features Far Eastern countries is
on the
interest
present
devoid
time.
of
These currencies
of
on
at
the whole
the
move
in strict
sympathy with sterling, though the Shanghai dollar
follows more closely the United States dollar.
The
mittee recommends, should be restricted at the
out¬
set to
tive
"a limited number
of
classes of administra¬
controversies," but the court should
ganized
as
to
permit the addition of other
be
so
or¬
classes of ;
Volume
Financial Chronicle
f
143
cases
from time to
Both
trial
vided
for, with further provision, "within the range
of
and
time
be
would
hearing of particular classes of
end
that
judges
the
benefit
of
particular
over
achieved" and "a
the
committee's recommendations, however, that would
prevent Congress from continuing to multiply ad¬
subject-matters
so
organized
district
or
where
"should
they
now
agencies,
by
of policy which Congress should settle for itself,
appeal," and "its estab-
A situation of that kind would prejudice the stand-
or
the
ing of the court, at the
detract from the juris-
as
"Few will
separation of
croachments by Congress.
administrative court,
The
deny," the report declares, "that
powers
doctrine
designed
government,
against
that, in
modern constitutional republic, it raises
the
a
despotism in
power."
The encroachments upon
private rights which Congress has
ed
of
late
statutes
with
have almost
clothing
legislative
administrative
judicial
powers
space
persons
proper
are
without incurring
beyond their
convenience to
a
rious,
calamitous, to
by the Constitution."
oped there which have
this
to the
Bar
Association
seems
look
to
which
There is much to
necessity of passing
Federal
upon
be said in favor
from
courts
the
the great variety of ad-
ministrative questions which may
them,
Federal ad-
similar, in general at least, to
function successfully in a number of
relieving the present
before
a
forward
court
other countries.
now
be brought
and of ending the chaotic situation
wliich results from
conferring judicial
host of administrative agencies
from
findings there is
some
of
the
of whose
no
would
in
fact
consists
in the
exercise
tially judicial function
for
all
to
whatever.
such unwarranted
means
judicial
now
for
functions
exercise.
be reformed is
process.
exercise
the
a
once
of power
by
agencies
slow and
un-
reform, and the thing that is to
likely to be left ragged during the
Moreover, if the parenthetical reference to
"hereafter
proposed to be lodged in such
an
be
se-
individual, while
press
heavily
suitors with small resources,
upon
Thus far the problem, the existence of which has
long been recognized
agencies,
by both the courts and the
dealt with mainly through special
bar, has been
governmental
some
and
others private,
The report reviews the useful work done by such
public agencies as small claims courts, which aim
to
simplify and expedite procedure and keep down
costs;
conciliation tribunals, which seek to settle
litigation;
controversies
without
dent boards,
through which
may
industrial
acei-
compensation claims
be adjudicated with small expense to the claimsome
of which
are
impow-
ered to initiate court proceedings on behalf of ,ina
variety of legal aid societies which
provide legal assistance to poor persons.
The
au-
thors of the report note that in 1933 there were in
the United States 84 legal aid organizations, deal-
ing with 331,970 cases and collecting $727,499.
Col-
these
end
gradual segregation of such judicial functions
as are
serious in-
committee
an
administrative
a
no
concern may
lection of claims is not, of course, the only work of
gradual segregation" of the
which
large business
any essen-
court which shall "pro-
Gradualness is at best
certain method of
the
The
or
court costs and fees, together with the fees of coun-
sel,
agen-
organizations, but the relatively small amount
collected
shows very
well the kind of need
with
which the societies deal.
On the contrary, the report recommends
only the establishment of
a
The primary
administrative
not, apparently, propose to put
Congress.
vide
an
under authority of Congress, of
agency,
does
by
or even
dividuals; and
remedy the evils
against which the report is directed.
evil
appeal.
clear, however, that the recommendations
committee
appeals which occasion
or
semi-judi- V ant; State labor bureaus,
or
cial powers upon a
It is not
j
close counterpart in
development in this country of
ministrative
those
no very
The report of the committee of the
country.
American
of
jurisdic-
procedure, have long been familiar in Eu-
means,
out of all proportion to the value in controversy,
of
and bodies of administrative law have devel-
court procedure
not be able to emerge
may
expenses
Delays
rope,
It is
claims lest they become involved in complica-
dions from which they
Government
tion and
they affect
means.
deterred from pressing
larger dimensions than that allotted to the Feleral
Adininistrative courts, with well-defined
as
with slender
elementary
even
and legal requirements,
agencies
over
and
unfamiliar with
or
often attempt-
so
free
matter of common knowledge that many persons,
always "been embodied in
Federal
or
State
be
of Labor
to the Bureau
submitted
report
wage earners
principal barrier against accumulation of auto-
cratic
should certainly
it
en-
to have an
are
we
Statistics is concerned with the delays and intrica-
and
safeguard
If
cies of judicial procedure, especially
as a
was
further
encourage,
from such possible entanglements,
court
a
time that it would not
same
deter, if indeed it did not
both prosecutor and judge,
procedure which would not be tolerated in
of law.
or
constituted, the Executive
as now
administrative contro-
proper
versies, but with the necessity of deciding questions
points out that in Federal admin-
commonly acts
power
the adjudication of
Its de-
exercised by constitutional courts."
The committee
istrative
impair
lacking, the court
was
would be in danger of being saddled, not only with
or prose-
subject to review, in specified
lishment should not
to be
To the extent that uniformity in the impor-
court.
tant matter of jurisdiction
court
The
powers
at present, notwithstanding that the
as
judicial authority now conferred upon other agencies was transferred to the proposed administrative
"in the
cases
arise."
legislative authority.
no
be
the several circuit courts of
diction
exercised
in Wash-
either directly by the Supreme Court
cases,
ministrative agencies with judicial
be
practicable, be
as
executive, inquisitorial
and
power
cisions
far
to enable it to hear
as
region
would have neither
cuting
to
may
To avoid "excessive concentration of
power
as
con-
tinue, the proposal at this point seems to contradict
itself. There does not appear to be anything in the
satisfactory flexibility" preserved,
ington" the court should,
administrative bodies to
powers to
experienced
cases,
and
expert
expects the grant
means that the committee
of judicial
pro-
practicability," for subdivision into branches "for
the
a
cies"
Congress might direct,
as
appellate divisions
819
The principal recommendation of the report looks
to
better coordination of these various agencies,
a
including, perhaps, the extension of
some
measure
of public control over the private legal aid organizations.
the
or
The
problem, of
States, and
no
course,
is primarily
one
for
great uniformity of regulation
procedure is to be looked for, but the depression
years
have called attention sharply to the wide
tent of need
tice.
as
well
as
ex-
to inequalities in State prac-
The solution of the problem is bound up with
Financial
820
question of reform of legal procedure in
marine has been appropriated and turned over to
Thanks to the efforts of judges of some
the navy. Members of the armed forces who profess
the whole
general.
of
the
State
been
higher State courts and of committees of
bar
considerable
associations,
progress
has
made, but it still remains true that legal pro-
ceedings in small causes may turn out to be costly
Socialist principles are reported to have had their
rents reduced or abated, and substantial increases
of wages and reductions of working hours have
buildings and other private property which is re-
delays" still drag out suits and postpone final
law's
ported to have gone on in various parts of the country has had Government approval or acquiescence,
decisions.
Unfortunately, the necessary cost of le-*
gal action bears no particular relation to the money
or
value in controversy or
or
xor
the personal inconvenience
suffering of the parties involved. Some assistance,
accordingly, must continue to be extended to those
of
to maintain
their
rights, and
now
that public and
private agencies for that purpose have multiplied,
proposal to coordinate their activities, increase
their
private property
have certainly
been
widely
Where
ther
a
a
Government victory looks toward a fur-
nationalization,
of socialization or
extension
rebel victory is widely believed to involve the es-
tablishment of Fascism. Whether a Fascist dictator-
practical efficiency and prevent overlapping
ship would mean a revival of the privileges of the
conflict, all through individual State action, is to
or
nobles and large landed proprietors, or a restoration
be commended.
of the church
_
_
.
,
of the War in
While
late
Aspects
matter of
Spain
are
making
some
head-
the fighting is still too furious, the area of con-
way,
flict too wide and
feet to
justify
news
any
the final outcome.
too
contradictory
or
imper-
confident prediction regarding
Among foreign observers, how-
there is considerable agreement that,
ever,
religious orders to the posi-
Specuiation, but
what-
doubts that So-
no one
cialism and Communism would
reports from Spain seem to indicate
that the Government forces
and the
tions of influence which they formerly enjoyed, is a
.
y
National and International
•
to what extent it is to be charged to Communists
lawless bands, is not clear, but the rights
jeopardized.
who, for financial reasons, are unable adequately
a
To what extent the destruction of
been decreed.
plaintiffs and defendants, and that "the
both
to
Au*• *> 1936
Chronicle
as
far
as
possible
be rooted out anjl the entire Leftist movement drastically checked.
Neither the Spanish labor move-
ment, which has been largely responsible for the
Leftist trend, nor the radical Spanish intellectuals
who have aided the movement by their writings and
in other ways, would long survive the establishment
of a dictatorial regime. The recognition of this peril
po-
explain the contributions in aid of the
Government which are being made by labor unions
and radical sympathizers in other countries. Socialization on a national scale is on trial in Spain, and
lifical, social ^nd personal animosities and ambi-
the overthrow of the Government would have reper-
the result in the
ever
ward to any
has
already cost thousands of lives and great de-
struction of property
tions to such
of
field, Spain cannot look for-
early period of peace. A civil war which
a
an
miracle if
vengeance.
must
has aroused and inflamed
extent that it will be little short
victory is not followed by drastic
Any forecast of the immediate future
reckon
with
the) influence
of
a
distracted
serves to
cussions in Europe wherever the issue between
so-
cialization and Fascism is drawn,
To a large extent, the attitude of other Powers
is determined by their respective interests in the
one or the other of these two consequences. The
defeat of the Popular Front in Spain would react
cause emerges victorious.
heavily against the stability of the Popular Front
There seems no reason to doubt, for example, that
in France, and might make the position of the Blum
the Government, if it succeeds in putting down the
Cabinet untenable. It would also be a disappointrebellion, will move rapidly farther toward the left,
ment to Soviet Russia, although it could not enStrictly speaking, the present Government is not
danger the Soviet regime. A Fascist victory, on
Socialist, but a so-called Popular Front made up of
the other hand, would undoubtedly be gratifying to
several radical parties.
Its probable course is obItaly and by no means unacceptable to Germany,
scured by differences among its members, but its*
The interest of Great Britain, aside from concern
Socialist trend has been and is so pronounced that
about possible complications in the Mediterranean,
the absence of the Socialist name does not greatly
is primarily that of a Power which, having been
matter.
Its natural evolution, accordingly, if it
severely rebuffed in most of its recent diplomatic
survives and conquers, will be in the direction of
undertakings, is particularly anxious to escape dipgreater political and social radicalism, and in this
lomatic Complications in any direction. Public ex¬
it will be aided practically by the Communists, who,
pressions of opinion elsewhere in Europe have thus
although formally holding aloof, are working effecfar not been so pronounced as in France and Rustively for the realization of a completely socialized
sia, but Communists everywhere are deeply inter-
Spain, bitter in its
and bent upon
memory
of the present struggle
carrying to
a
conclusion whatever
ested in the struggle, the trade unions, for the most
State.
Recent events
The seizure of
property which the Constitution of 1931 au-
Fascism dread the establishment of another dic-
significant of the trend. A good
fighting has been happening in Spain
during the past week
church
part Socialist
or Communist in their sympathies,
look with grave apprehension upon a possible overthrow of the Leftist Government, and enemies of
deal besides
are
or
ten days.
thorized, but which had not been generally carried
out, has been formally ordered, and there are re-
tatorship.
The question of intervention
or
neutrality is
pe-
ports of Communist excesses in burning churches
culiarly embarrassing to the Powers. There is noth-
and
ing in international law to prevent
killing priests and
nuns.
The control of
industries has been entrusted to
a
many
Government
com-
furnishing
supplies
or
other
aid
any
to
Power from
the
Spanish
mittee, some banks and radio stations have been
Government, but the uncertainty of the outcome
taken
makes it expedient to think of the effect of aid upon
over
by the Government, and the merchant
.
Volume
Financial
143
diplomatic relations if the Leftists
Military or other aid to the
future
lose their cause.
ernment, would be an
rebels,
foreign Gov¬
openly unfriendly act. France,
obtain an agree¬
exerting itself to
has been
which
should
hand, if sanctioned by a
other
the
on
naturally
by>the danger to its own Popular Front,
but it is embarrassed by the wide popular sympathy
in France for the Spanish Leftists, and by the large
number of Frenchmen who have crossed the border
of the Powers
ment
not to intervene, is
influenced
There is a strong
join the Government forces.
to
suspicion
that Italy has given some
.
indirect aid
have not
Spanish rebels, while if both sides
obtained munitions from countries which
to the
are
long.
could have continued so
The difficulties of
of
intervening,
intervene, are very well
not to
Government,
Italian
the
French
proposal of
for non-intervention.
a
or
agreeing jointly
indicated in the reply
Thursday, to the
on
preliminary understanding
stated,
As summarized
On three points, it was
further elucidation was necessary.
The New
officially
how the fighting
holding aloof, it is hard to see
The record of
of
prising
392,534
issues.
new
shows
July
financing in this country during the
a grand total of $338,382,702, com¬
May. In
total was $1,002,692,011; in March it was
February it was $302,858,716, and in
$411,631,104.
Refunding operations, as in
with $419,781,649 floated in
April the grand
$767,415,683; in
January it was
other recent months, predominated Jhe new
financing dur¬
and no less than $235,613,996 out of the grand
total of $338,382,702 comprised refunding operations, that
ing July,
old outstanding
capital raised
during the month at only $102,768,706.
For the benefit of
the reader, we mention here that our compilations, as
always, are very comprehensive, and include the stock, bond
and note issues by corporations, by holding, investment and
trading companies, and by States and municipalities, for¬
eign and domestic, and also farm loan and publicly-offered
is, represented issues to take up or replace
securities, thus leaving the strictly new
order
States
during
Government issues appeared in
month of July.
the
the usual
The month's financing
comprised five Treasury bill issues sold on a discount basis.
Because
of
the importance and magnitude of United
States Treasury issues, we furnish below a summary of the
new
securities sold during the first seven months of the
current year and
give particulars of the different
Financing During the
and
Morgenthau
on
finding expression in
form of interventionsecond,
non-intervention undertaking is
dangerous
"whether
or
not the
to have a universal
issues.
Month of July 1936
June 25 announced
$50,000,000, or thereabouts, of 273-day
an
offering of
Treasury bills.
character, and whether
only the signatory
signatories." The reply, it is pointed out, is not in¬
constituting counter-proposals
tended to be taken as
indication of a desire
Government "to know ex¬
actly what it may be committing itself to before it
is willing to proceed any farther with the nego¬
to those of
France, but as an
part of the Italian
the
on
tiations."
(Continued on page 826)
-
The bills were
bills.
The
dated July 1 and hence form part of
the government financing for the month of July.
The 273day Treasury bills will mature March 31, 1937.
Applica¬
tions for the bills totaled $154,933,000, of which $50,015,000
was accepted.
The average price of the bills was 99.855,
the average rate on a bank discount basis being 0.191%.
These bills replace a similar amount of maturing bills.
On July 2, Secretary of the Treasury Morgenthau an¬
nounced a new offering of $50,000,000, or thereabouts, of
273-day Treasury bills.
The bills were dated July 8 and
will fall due April 7, 1937.
Tenders to the offering totaled
$179,143,000, of which $50,000,000 was accepted. The aver¬
age price of the bills was 99.949, the average rate on a
bank discount basis being 0.067%.
The bills will replace a
similar amount of maturing Treasury bills.
Mr. Morgenthau on July 9 announced another offering of
$50,000,000, or thereabouts, of 273-day Treasury bills. The
bills were dated July 15 and will mature on April 14, 1937.
Subscriptions to the offering totaled $167,814,000, of which
$50,052,000 was accepted.
The average price for the bills
was 99.946, the average rate on a bank discount basis being
0.071%.
Issued to replace maturing bills.
On
July 16 Mr. Morgenthau announced another new
offering of $50,000,000, or thereabouts, of 273-day Treasury
bills.
The bills were dated July 22 and will mature April 21,
1936.
Tenders to the offering totaled $169,959,000, of which
The average price for the bills
was
99.913, the average rate on a discount basis being
0.115%.
Issued to replace maturing bills.
Mr. Morgenthau on July 23 announced a further new
offering of $50,000,000, or thereabouts, of 273-day Treasury
of July
dated July 29 and will mature
April 28,
Applications to the offering totaled $141,262,000, of
which $50,047,000 was accepted.
The average price for the
bills was 99.830, the average rate on a bank discount basis
1937.
being 0.224% per annpm.
This issue will replace a
of maturing bills.
the following we show in tabular
similar
amount
In
form the Treasury
of 1936. The
$5,934,016,300,
of which $3,523,540,100 went to take up existing and $2,410,476,200 represented an addition to the public debt.
For
July by itself, the disposals aggregated $250,114,000, all of
financing done during the first seven months
results show that the government disposed of
refunding:
which constituted
TREASURY FINANCING DURING THE FIRST
UNITED STATES
SEVERN
MONTHS OF 1936
Amount
Due
Dated
8 273 days
Jan.
2 Jan.
Jan.
9 Jan.
15 273
days
16 Jan.
22 273
days
Jan.
23 Jan.
29 273 days
Janua ry
Amount
Applied for
Date
Offered
Accepted
60,074,000 Average
total
*0.095%
99.937
50,010,000 Average
109,838,000
100
5,603,388,750 1,223,502,850
100
676,704,100
3,402,542,800
99.921
50,000,000 Average
123,071.000
99.921
50,025,000 Average
129,255,000
99.911
50,085,000 Average
147,495,000
*0.084%
2.75%
13 Feb.
11 273 days
19 273 days
50,296,000
50,545,000
50,100,000
50,000.000
192,133,000
4 Feb.
Feb.
184,569,000
143,432,000
26 273 days
98,970,000
4 273 days
2 Mar. 16 12-15 yrs,
2 Mar. 16 5 years
5 Mar. 11 273
Mar. 12 Mar. 18 273
days
Mar. 19 Mar. 25 273
days
Mar.
days
2
Apr.
9
Apr. 16
Apr. 23
Apr.
Apr.
1 273 days
8 273 days
Apr.
15 273 days
Apr.
22 273 days
29 273 days
April
Apr.
total-
223
days
273
days
May
216
days
May
125,607,000
140,735,000
May
273
days
May 14 May
209
days
May 14 May
273
days
May 21 May
May 21 May
202
days
161,330,000
131,565,000
273
days
148.465,000
15-18
May 27 June
5 years
May 28 June
195
yrs
days
May 28 June
273
days
June
188
days
June
4 June
273
days
113, 830,000
June 11 June
181
days
June
273
days
133, 883,000
116, 172,000
June 18 June
174
days
273
June 18 June
day3
2 July
9 July
273 days
16 July
23 July
273 days
July
♦
total
99.929 *0.093%
Average
99.933 *0.089%
Average
99.924
99.905
99.909
Average
99.858
Average
99.910
Average
99.863
99.902
188%
156%
110%
175%
99.848
200%
123%
125%
151%
Average
Average
Average
99.826 *0.230%
99.904 *0.191%
99.816 *0.242%
Average
99.912 *0.183%
Average
99.818 *0.240%
50,015,000 Average
50,000,000 Average
50,052,000 Average
99.949 *0.067%
2,531,544,350
June 25 July
July
99.914 ♦0.113%
99.924 *0.100%
Average
Average
60,035,000
50,018,000
50,012,000
50,050,000
50,008,000
135, 202,000
146, 116,000
total273 days
July
99.904 *0.128%
Average
Average
100
2.75%
5,237, 987,200 1,626,937,850
100
1.375%
503,958,500
2,841, 455,900
Average
99.900 *0.184%
50,090,000
146, 415,000
99.835 *0.218%
50,295,000 Average
134, 960,000
99.902 *0.187%
50,140,000 Average
152, 610,000
June
July
Average
400,357,000
total
May 27 June
July
1.50%
*0.104%
*0.104%
*0.118%
50.050,000 Average
50.060,000 Average
187,941,000
June
*0.087%
*0.078%
*0.074%
Average
50,024,000
50,102,000
50,005,000
50,111,000
50,000,000
50,005,000
94,599,000
93,918,000
May
11
Average
250,419,000
Apr. 30 May
June
Average
50,028,000
60,196,000
50,008,000
50,077,000
50,110,000
137,648,000
201,805,000
150,991,000
146,908,000
117,748,000
Apr., 30 May
May
Average
2,100,326,950
Marc h total.
Mar. 26 Apr.
Average
200,941,000
Febru ary tota
Mar.
99.926 *0.098%
99.924 *0.100%
99.929 *0.094%
99.928
99.934
99.941
99.944
6 273 days
Feb.
Feb. 20 Feb.
99.919 ♦0.107%
200.314,000
30 Feb.
Jan.
Yield
Price
50,060,000 Average
50,050.000 Average
50,130.000 Average
132,204,000
190,515,000
212,610,000
170,307,000
bills, however, were
$50,000,000 was accepted.
it is to
Governments or also private
citizens," and third, "whether it is proposed to set
up any machinery to verify observance or non-ob¬
servance of the non-intervention
agreement by its
bind
Mar.
Mr.
the New York
parties in the conflict,
the two
Feb. 27 Mar.
New Treasury
of
which has
public manifesta¬
tions, press campaigns, subscriptions of money, re¬
cruiting of volunteers and the like, is a clamorous
of
one
found and is
Jan.
governmental agency issues.
United
correspondent
Rome
the
"Times," they were, first, "whether the French Gov¬
ernment does not think that moral solidarity with
Months Ended July 31
$41,910,168 of State and municipal issues, $294,corporate securities, and $2,080,000 farm loan
The month's grand total compares with $731,166,331
put out in June and
by
United States During the Month
Capital Flotations in the
and for the Seven
month
821
Chronicle
273 days
273 days
154,933,000
179,143,000
167,814,000
169,959,000
141,262,000
250,114,000
.
Average rate on a bank
50,000,000 Average
50,047,000 Average
discount basis.
99.855 *0.191%
99.946 *0.071%
99.913 *0.115%
99.830 *0.224%
822
Financial Chronicle
Aug. 8, 1936
USE OF FUNDS
July 1, 1966, sold at 102.83, to yield about 3.35%; $30,000,000
the New York Edison Co., Inc., 1st lien & ref. mtge. 3%s E,
April 1, 1966, floated at 102, to yield about 3.14%, and
___
Jan.
Total Amount
Type of
Security
Doted
New
Accepted
Refunding
indebtedness
8
Treasury bills
$50,060,000
15
Treasury bills
Jan.
22.
Treasury bills
50,050,000
50,130,000
$16,669,000 Long Island Lighting Corp. 1st ref. mtge. 4s,
July 1, 1963, placed with a group of large insurance companies at 104%, to yield about 3.75%.
There were two
railroad issues during July worthy of mention, namely:
$29,500,000 the Chesapeake & Ohio Railway Co. ref. & imp.
$50,060,000
Jan.
Jan.
50,074,000
$200,314,000
$200,314,000
$50,296,000
50,545,000
50,100,000
50,000,000
$50,091,000
50,100,000
50,000,000
IIIIIIII
$200,941,000
29
$200,736,000
*205,000
Treasury bills
Total.
Feb.
0
Feb.
11
Feb.
19
Feb.
26
Treasury bills.
...
Treasury bills.
Treasury bills
i
Treasury bills.
Total.
Mar.
"""II
50,050,000
50,130,000
50,074,000
4
Mar. 16
2% % Treas. bonds.
Mar. 16
Mar. 18
1H % Treas. notes.
Treasury bills
Treasury bills
Mar. 25
Treasury bills
Mar. 11
mtge. 3%s E, Aug. 1, 1996, priced at 99%, to yield about
3.52%, and the Chesapeake, & Ohio Railway Co. serial notes,
%% to 2.875%, July 15, 1937-46, offered at par.
$205,000
50,545,000
No
$50,010,000
1,223,502,850
676,704,100
50,000,000
Treasury bills--—
—.—
$50,010,000
996,553,400
3.653.550
50,085,000
the
—
Apr.
1.
Apr.
$2,100,326,950 $1,196,673,400
8.
Treasury bills.
Treasury bills.
$50,028,000
Apr. 15.
Apr. 22.
Treasury bills.
Apr. 29.
Treasury bills.
50,008,000
50,077,000
50,110,000
Treasury bills.
Total.
$250,419,000
Treasury bills.
$50,024,000
Treasury bills.
were
warrants,
another.
purchase
50,005,000
50,111,000
50,045,000
50,000,000
50,045,000
49,960,000
20.
Treasury bills.
50,050,000
60,060,000
$200,242,000
$200,115,000
Treasury bills.
Treasury bills.
Total.
June 24
June 24-J
Treasury bills
June
15
June
3
June
3
per
June
10
June 17
June 17
Aircraft Corp.
15,000 shs. Kobe,
Inc.
(Los Angeles)
share carries
stock.
50,015,000
50,040,000
20,000 shs. Northern
60,144,000
50,015,000
pref.
stock.
Each
24,000 shs. John Irving Shoe Corp. 6% pref. stock.
Each share carries
a warrant to purchase one share of common stock.
50,295,000
50,031,000
$3
1 5,145 shs. Gardner-Denver
Co. $3 cum. conv. pref. stock.
Convertible into common stock on a share-for-share basis.
,1,024,865,700 $1,106,030,650
50,090,000
before July 1,1941.
on or
conv.
share convertible into two shares of common stock.
so nan nnn
.
June 10
follows:
share if exercised thereafter and
$400,357,000
2H% Treas. bonds. $1,626,937,850
1 % % Treas. notes
503,958,500
Treasury bills
50,090,000
Treasury bills
50,295,000
Treasury bills
50,140,000
Treasury bills
50,035,000
Treasury bills
50,018,000
Treasury bills
50,012,000
Treasury bills
50,050,000
as
before July 1, 1937, three shares of class B
on or
22,975 shs. Consolidated
50,060,000
June 15
were
per share, or option to purchase
after July 1, 1937, and on or before July 1, 1941, one share
of common stock of the North American Co. at $35
per
share if exercised on or before July 1, 1939, and at $40
50,071,000
Treasury bills.
Treasury bills.
27.
Ltd.,
stock of the company at
$50,024,000
13.
27.
Hare's,
150,000 shs. American Cities Power & Light Corp. class A stock, optional
Dividend Series of 1936.
Each share carries a warrant to
20.
50,005,000
50,050,000
by
(Pa.) conv. pref. stock. Each
share convertible into 3 shares of common stock.
IIIIIIII
■
Treasury bills.
offered
eight corporate offerings made in July carryor a
convertible feature of one kind or
These issues
50,102,000
13.
Ltd.,
90,000 shs. American Bantam Car Corp.
$50,102,000
6.
There
$250,419,000
6
May
May
May
May
May
May
May
May
floated in
were
.
fixed investment trust issue was offered during
month, namely:
$903,653,550
$50,028,000
50,196,000
50,008,000
50,077,000
50,110,000
50,196,000
new
5,000,000 shs. Institutional Securities,
priced at market.
——-—
Total.
description
any
country during July.
One
50,000,000
50,025,000
50,085,000
50,025,000
foreign securities of
this
50,018,000
Each
$1.20
pref. stock.
cum.
Each
warrant for one share of common stock.
a
Illinois
Finance
share
Corp.
convertible
$1.50
into
cum.
1 2-3
conv.
shares
of
pref..
com.
stock until
Aug. 1, 1937: thereafter to Aug. 1, 1938, into
1M shares of common stock, and thereafter to Aug. 1, 1941,
into 1 share of
common
stock.
20,000 shs. Seaboard Finance Corp. $2 cum. pref. stock.
Each share
carries a warrant to purchase 1 share of common stock
at $10 per share on or before April 30,1939.
50,008,000
_
Total.
$2,531,544,350 $1,225,041,700 $1,306,502,650
July
1.
July
8.
July 15.
July 22.
July 29.
Treasury bills.
$50,015,000
50,000,000
50,052,000
50,000,000
50,047,000
$250,114,000
$250,114,000
Treasury bills.
Treasury bills.
Treasury bills.
...
Grand total
Stock Land Bank issues
$50,015,000
50,000,000
Treasury bills.
Total
.
seven
months
SUMMARY
Features of July Corporate Financing
announced
during July,
accounted
for
$149,804,000,
336,000 for that
which
Domestic—
to
$49,690,000
compared
as
$
39,238,642
7,1971885
Common stocks
23,372,929
i.
219,955,358
2,000,000
1,525,000
1,102,720
259,194,000
2,000,000
8,722,885
24,475,649
Canadian-
Long-term bonds and notes—
Short-term
Preferred stocks
$106,795,000
to
Total
S
Short-term.
reported for them in June, while railroad financing in July
amounted
Refunding
>
Preferred stocks
against $235,498,915
as
LOAN
S
Long-term bonds and notes
Industrial and miscellane¬
$94,898,534 in July
FARM
Corporate-
$185,-
with
compares
GOVERNMENT,
New Capital
Month of July—
that public utility issues
in June.
group
issues totaled
ous
note
we
FOREIGN
MUNICIPAL FINANCING
1936
corporate offerings
new
three small Joint
were
ending with July:
OF CORPORATE,
AND
Making further reference to the
financing
aggregating $2,080,000.
TIle following is a complete summary of the new financing, corporate, State and city, foreign government, as well
as
farm loans issued during the month of
July, and the
IIIIIIII
IIIIIIII
50,052,000
50,000,000
50,047,000
$5,934,016,300 $3,523,540,100 $2,410,476,200
.
Included in the month's
""
re¬
Common stocks
Other foreign—
corded for June.
Long-term bonds and notes
The total corporate securities of all kinds put out during
«
;
—
Short-term
Preferred stocks
July
was,
as
already stated, $294,392,534,
$259,-
of which
Common stocks
194,000 comprised long-term issues, $2,000,000 was of shortterm
maturity, and $33,198,534 represented stock flotations.
The portion of the month's corporate
refunding operations
of
the
total.
755,755,
or
$267,385,450,
was
it
or
June
in
it
the
of
the
than 76%
more
or
portion
refunding
71%
than 87%
more
total..
of the total.
In
it
32,959,250
8,950,918
102,768,706
235,613,996
United States Possessions
Grand total.
was
April it
224,583,078
294,392,534
2,0801000
Municipal—States, cities, &c
$375,-
was
In May
69,809,456
(_
Canadian Government—
Other foreign government
Farm Loan and Government agencies
2~,080l666
<
41,910,168
338,382,702
7 Months Ended
July 31—
Corporate—
Domestic—
or more than
$536,936,945,
February
while
$224,583,078,
was
than
$559,871,977,
was
or
In
more
flotations devoted to
.
Total corporate
82% of the total; in March
than
more
or
$181,140,575,
was
January the
approximately
or
90%
of
about 93%
refunding portion
73%
total;
the
was
Long-term bonds and notes._
Short-term
in
•
Preferred stocks
Common stocks
of the total,
Canadian—
$200,972,556,
Long-term bonds and
notes
369,621,545 2,150,453,355 2,520,074,900
18,707,500
35,762,500
54,470,000
38,490,673
118,797,738
157,288,411
97,573,578
10,732,743
108,306,321
8,000,000
30,000,000
Short-term
of
that
month's
total.
.In
July
Ouiniiiuii stocks
(1935) the amount for refunding was $486,885,330,"or nearly
90% of the total for that month.
The more important
38,000,000
i
Preferred stocks..
_____
________
—................
Other foreign—
Long-term bonds and
notes
Short-term
refunding
lowing:
deb.
issues
sold
$35,000,000
3%s,
July
refunding;
1,
during
July
Commercial
1951,
$34,000,000
1936
were
Investment
which
of
the
of
the
Trust
fol¬
Electric
Co.
1st
mtge.
3%s A, July 1, 1966, used entirely for refunding;
$30,000,000 the New York Edison Co., Inc., 1st lien & ref.
3%s E, April 1, 1966, used entirely for refunding,,
$29,500,000 the Chesapeake & Ohio Railway Co. ref. &
Total corporate
Canadian Government
United States Possessions
532,393,296 2,345,746,336 2,878,139,632
48,000,000
48,000,000
55,000,000
55,000,000
21,gbblooc
313,398,600
335,298,600
416,890,047
240,625,834
657,515,881
1,075,000
1,750,000
2,825,000
Grand total
972,258,343 3,004,520,770 3,976,779,113
Other foreign government..
imp. mtge. 3%s E, Aug. 1, 1996.
The largest corporate offering of
$35,000,000
Commercial
Investment
the month
was
that of
Trust
Corp. deb. 3%s,
July 1,1951, priced at 101%, to yield about 3.37%. Another
industrial
and
miscellaneous
was
$14,500,000
Southern
gen.
mtge.
June
4%s,
1,
flotation
Kraft
1946,
worthy of mention
Corp.
1st leasehold &
*
Municipal—States, cities, &c
offered
at
98%,
*
These figures do not include funds obtained by States and
municipalities from
any agency of the Federal Government.
In the elaborate and
ing
of
following:
$34,000,000 the Narragansett Electric Co. 1st mtge. 3%s A,
of
to
4.44%.
Public
utility
issues
were
featured
pages we compare
comprehensive tables
corporations.
Following the full-page tables
by
the
on
the succeed¬
the foregoing figures for 1936 with the
corresponding figures for the four years preceding, thus
affording a five-year comparison.
We also furnish a de¬
tailed analysis for the five years of the
corporate offerings,
showing separately the amounts for all the different classes
yield
about
_.
Farm Loan and Government
agencies
mtge.
and
„
Common stocks.
Corp.
$20,307,100 constituted
Narragansett
Preferred stocks
the
new
•
we
give
capital flotations during July,
complete
details
including every
issue of any kind brought out in that month.
O
ft
o
.
K*
05
fb
s,.
to
•_
Total
1932
8
72,09 0 38,R420 |"1,0b,65
0
"linn
Capit l
61,50
New
342,0 0
f,"o' "o,6
:O:: 72,0 9 0 §5538,0"6
"342",6 5 38, 420
Refundi g 10,5290
10,5290 38,506",0
38,50 0
61,50 0
272,09"0
Total
49,02 0 1,29~,456 50,321450
Refundi g 10,529.0 38,50 0
t3
—
Capit l 61,50 0
1 ,8710 16,"0 ,0 27,8312 15,7023
1932
62,84 0 16,0 0 26,53872 105,38 72
..
—
—
New
00
1",o " ,65 - - "342",5 1 ,8710
49,02 0
342,0 0 342,0 0
10,529"65
1,0 ,0
1,"0 ",65
49,02 0
-
342,0 0
1,0 ,0 61,50" 0 1,0 ,0
1,0 ,0
62,84 0
.
13,061 0 6,708,750 76,051725
Total
1933
13 ,3 2
95, 4807 35,0 0 30,950 1,250, 0 162,59 862
Capit l
6,708,75046,051725
New
Total
$
13 ,3 2
50,4 0 93,80 0 1,578,914
■
Refundi g
Capit l
-
*
_ 13,061 0
.
■
■
<§
- 50,4 0 50, 0 43,50 0 "30 ",0 0
"4b"o,6
50, 0
Refundi g 50, 0 75,0 0
125,0 66003 ,bo ",6,48 12 lnoodt
$
YEARS
1C1
.
40 ,0 0
1934
CIUFTSTSMOJYOFNRUEHPAHIINAVLEARRDES
FGFLOAMFOFTMOJIUNVREUAIERHVCINGLMDPRERNYGT,
bSfFGotrtoeam*avhoudnYgircyinnepmdlsaesyl.
CORPATE,
Capit l 18,30 0 1,578",914
20,78914 105, 0 8,329078 213,60792
498.72,0 10, 0 30,9450 .2,80
541,9750 10,"5 ,60 87,468 5 4,56,0 64,50865
$
New
Total
$
-——
486, 530 66601 ,50 ",15,67146 4,30, 0 517,382476
Refundi g 471,853 10, 0 5,0 ,0
$
1935
—
-
- 93,80 0
259,140 2,0 ,0 8,72,8524,75649
Total
294,3254
2,08 ,0 41,9 0168
SOUM FARY
GONREUPFWI
38, 270
Refundi g 219,5 38 2,0 ,0 1,52 ,0 1, 02,7 0
24,58307
Capit l 39,28642 7,197,8523,729
1936
Total
1935
5,089670 71,90 59 135,0 0 127, 6179
New
CAHARNTDE
69,80 456 322,59509", 102,768 0
$
New
2,08 ,0 8,950,918
235,61 96
- 50, 0 43,0 0 32,50 0
Refundi g 50, 0
Capit l
Refundi g
Capit l
$
"~3l"0",
-V
- 75, 0 0
- 40 ,0 0 7,0 ,0 1,0 0 "30 ",0
40 ,0 0
$
* • 651,0 0
$
$59,680
$
8
18,30 0
V-
10, 0
5,"Ob",0 3,2 3,6
4.30 ", 0 498,720 10, 0
-
314,620 51,09 0 74,92"40 27,81250
4,30 16 471,8530 16,0* " 0
8,70",60 4,218,750
-
59,680
- 5,0 ,0 329,16 0 51,09 0 74,92"40 27,81.250
-
'
$
4,890, 0 10, 35260 1,49 ,5 0 79,03225",
--
10 ,0 0 1,802,7 0 725,0 0
2,0 ,0
Com on Other
Com on Total
Grand
Other Farm
*
United
*
--
2,6 7, 20 4,80 0 139,68740 4,0 ,0 1,0 5,4 0 10 ,0 0
—.-
"
I
"
'
-
—
—
13,4768
725,0 0 50 ,0 0
.
*
2100.3 7", 24,58307
"80 ",0 18,3694 0 2,052,674 50 ,0 0 7",125",0 1,723,650 30,57 814 4,890, 0 10,35260 1,49 ,5 0 80 ,0 0 25,39 42 2,052,674 50 ,0 0 7,125",0 17,4650 69,80 456
15,692" 0 39,28642
•
notes. notes. _. notes. governmt— acis-.C&te, finucldse Notes— manufctrig h&ocld_ing, Notes— h&ocld—ing,
Com on
25,0 " 0 5,089670
"90 ",60 20,172 10 2,7 ,674 50 ,0 0 7,125",0 1,723,650 3,198534 49,6 0 149,80 4,0 ,0 2,50 , 0 90 ,0 0 38,72 10 2,7 ,674 1,0 ,0 7,125",0 37, 23650 294,3254
2,0 ,0
-
Refundi g 4 ,80 0 139,68740 2,0 ,0 1,0 5,4 0 if,674 68 "50 ",60 210,0307", 219,5 38 2,bo",0
4,30 ", 0 486, 530
25,Ob",0 28,3 0 591,320 9,429,0 3,910, 0 16,0940",4,218,750
3,2 3",0
■•■j
20,78914
29,30",0 541,9750
-
26,85 670
49,60 149,80 2,0 ,0 2,50,0 18,7b"6 "0500"0, 36,"ob ,0 259,140 2,bo",0
310,20
25,"0 ,6 3,2 0 651,0 0 38,5910 5,0 0 86,43",0 32,0 0
- 10, 0 5,Ob",0
591,320 9,429,0 3,910, 0
1,568,714 "40 16
"bib",
,
—
Capit l
125,0.
V
20 1,578314 7,0 ,0 1 ,0 0
1,268",714
32,5910 5,0 0 83,20 032,0 0
$
New
145,78914
•:
OFJULY stock bLoonang-tdersm Presftorcekd stock bLoonang-tdersm Presftorcekd stock corpate toal OJMUONLFTHYS
bLoongan-tdermsShort-em_Presftorcekrd Short-em Short-em. dfignuorest LBoonagn-tedrmsRailrods. utiles&sccotopeall,,,Equmaipnumfcetrnets anodi indaustrl b&uildcngs, ttrraudsintg,,Miscelanous &SBhoornt-desm Railroads utiles&ccsootpeall,,,Eqmuanipufmcterenst anodi &buildcngs, Ship:ng. ttrraudsintg,,Miscelanous Stocks—- Railroads utiles&ccsootpeall,,,Eqmuanipufmcterenst anoid &builcdn.gs,
Corpate— Domestic— Candi— Foreign— CGoavnerndmiant foreignGLooaavntnd, Municpal—St ,PSostae eins
MONTH
93,0 0 32,50 0
'
1
1936
"310,26
*
New
Total
40 .0 0
20 1,578,914 10, 0 43,50 0 1,568",714
1,268",714
__
New
—
Capit l 26.85 670 25,94",6 2,8,0
Total
75,0 0
75,0 0
r
-
1934
43,061 0
7,0 ",0 2,042,901 "65838 40,81 382 1,320,120 1,08 ,56 52,893 07 7,0 ",0 2,042,901 5 6,838 40,81 382 1,320,120 l",08 ",56 52,893 07
New
145,78914 135,Ob"0 94,813 9 c1no0
30, 0 1,061,0 12,"Ob ,0 30,Ob"0
30,bo"0
-
$
otc
75,0 0
75,0 0
- 13,061 0 7,"ob",6 2,042,901 "5856"38,70,81 382 1,320,120 1,08 ,56 82,93807 1,061,0 7,0 ,0 2,042,901 12,0 0 5 6,838 70,81 382 1,320,120 1,08 ,56 95, 4807
1,061,0 12,0 " 0
- 1,061,0 12,Ob",0
$
1933
52.893 07 35,0 0 28,5492 1,250, 0 17,693049
—
•
$
■
43,061 0 1,845,813 4,906813
Refundi g 13,061 0 30,"O' ,0
S
Total
These
Total
*
Public Iron, Motors Other Land,Rub er
Oil
Ship ingInv.
Public Iron, Motors
Oil
Land, Rub er
Inv.
Total—
Public Iron, Motors
Oil
Land,Rub er
Ship ing
co(Spe, manufct-res &c &htorcaldd_iinn.gg,, securit
Miscelanous otal— Railroads utiles csoteall,,Equipment buildngs,R!uber Ship ing trust ,Miscelanous corpate
Total
T
Public Iron,
Oil
Land,
Total
Inv.
234,9 80 14,7850 6,75,275 ,194,20
$
Total
361,9425 138,~506 56,3072
Refundi g 38,92 50 97,8490 l",897",320
Refundi g 9,327,0 29,54 0
New
50,0 0
$
1932
20 ,0 0
2",50", 0
1,0578,067
692,0 0
23,0547 46,0 0 502,8 946 71,98421
Capital 196,0730 16,93 0 6,75,2753,296,0
$
9,327,0 2 ,862 0
$
Total
138,6 20 92,506~ 54,019826 285,1 64
$
1932
692,0 0
234,9 80 8,375,0 9,590
10 ,0 0
4,"IO"I6 2,6"IO6 14,7850 6,809",495 f,491",250 2,168~,75C 1,50 , 0 1 ,96 495 17,02 0 10 ,0 0 1,491",250 6, 51,0 2,168,750 4,310, 0
329,71295
361,9425
38,92 50 1,0 ,0 96,7490 10 ,0 0
97,8490 l",897*326
2,50",60 "20 ",6 5 196,0730 7,3 5,0 2,850, 0
Capital 193", 730
%
New
1,897,320 10,3270 128,91820 10 ,0 0
-
"~5o',6 138,6 820
■
v
4,10 , 0 2,610",6 16,93 0 41751,9 2", 12,45910", 2,168",750 1,50 *,6 10, 72.1 5 7,3 5,0 201,7945 1~,491",250
6,6061",2,168750 4,310",6 23,02547
*
•
"
13 *3 2 I,6 ",56
1,60 ", 0
Refundi g 1 ,0850 57,3670 32, 17 8
$
1933
134,62950 74,13670 1,03 75093,46503
$
Total
.
"13 ",3 2
Capital 23,610 16,0 01,03 75061,4725
$
$
186,40.1 29,5 0 2,908,0 27,6539
l",206", 6
1,20 ",65
Refundi g 128,4602 98,205 0
$
1934
YEARS
FITSNMAEJOFH3NVCUODIRVLG1^RY
FGLOAMVUERNICMDPT,L
CFOORRPEIGANT,
Total
20,46297860, 0 19,32"890 281,7586
Capital
New
57,93 0 31,05 0 2,908,0 27,6539
347, 92 43",06 614,38.74 1,3952,03
27,86520 274",30 6091,73 102 593,86302
19,57409 159,6O" 6 52,6 32 801,26731
it.
861,09370687,49174,98,0 2,6503,617
Total
1935
1, 459,80
Refundi g 897.13,96 3,6150 24,37180
95,80 796 851,9370 251, 35674,30, 0 2,063. 8,063
8,765 0 43,290 "527,10 0
75,0 0
75,0 0
•—— 134,62950 7,27,0 39,7520 5,605,40 12,0 0 5,160",56 "95,100 75,3670 9,147, 82,042,901 "859",26989,48 51 ,470,120 1,08,56 104,632085 96,04250 92,18 978 ,648,301 2,0 0 859,26996,73451 1,470,120 90 ,0 05,9 ,10 1,08 .56 314,9825
90 ,0
—
Capit l 12,0 0 10,7210
#
J3FYUEOILVA1YRS
SMEEONVDTHNS
-
90 ,0
-
"
—
—
"
Refundi g 76, 5 0 32,5180 1,725",0
8
-
$
$
$
1933
12,53 07 45,90 0237,4921 1,40,0 397. 2,598
New
Total
314,982560, 0 45,~9O6~ 256,801 1,40,0 679,1846
1 ,0850 7,27,0 23,9520 5,605,40 12,0 0 5,"6 ",0
23,610 16,50 0
New
100
59,13670 2,147, 8 30,17 0
5,959",
32,17 8 84,0250 57,960 785,605,40 12,0 0 36,895",60 lo5,9o59",
20,46978
75,0 0
16,0 0 7,0 ,0 2,042,901 "859",26959,78451 1,470,120 1,08",56 75,0 72,314 07 12,0 0 34,210 2,042,901 "859~,26959,87 451 1,470,120 90 ,0 0 1,08 ,56 12,53 07
10 ,0 0
1
-
Total
$
149,60 1034,083 0
2,308, 0
40 ,0 0
186,401 70,9470 5,0 0
■
250, 0
3,258~6 0,5_
"5*8 ,756 20,16 *,249
130,45 0
525,0 0
265 9,0 ,0 30,58419 20,5610 89,5 30 58 ,750 25,76",249 50 ,0 0 40 ,0 0 525,0 0 "3-16",20 9,250, 0
"310",
•
Refundi g 102,5 0 23,652 0 2,308",65
128,4602 63,9470 32,50 0
$
1934
FSTTOHAREE
Capit l 47,109 0 10,43 80
UNITED
New
Total
-
40 ,0 0
$
9,405 0
57,93 0 7,0 ,0 23,0 0 "30 ",60 50 ,0 0
250, 0
.
.
85,7310 576,24 0 13,0 0 7,941",60 15,0 39,50 0 893,0 0 4,74,0 20," 0,6 6,0 ,0 4,10 , 0 6,0 ,0
1,0351,0
Refundi g 58,2 9680 57,350 12,4806 2,4 1*.6 127,0 40 35,281 50
1935
2,958,6
23477,,865920
5,26 ,0
16,470 56,12 0
s
31,05 0 "58 *756 20,16",249 525,0 0 "310",20 9,0 ,0 30,58419 54,109 0 3,408 58 ,750 20,46 249 50 ,0 0 40 ,0 0 525,0 0 310,20 9,250, 0 19,57409
6,0 ,0 42,10 0 6,785",250 5,0 ,0 4,651,750 5,0 ,0
6,0 ,0 3 ,6150 5,0" ,60
4,7 4,0 897,1396 20, ",0 1,6 5,0 6,0 ,0
4,37180 65,80 0 85,7310 603,27 50 138,0 0 13,9410 164,25170 50, 0 893,0 0 5,1580 1, 459,80
19,37180 24,37180 58,29680582,350 12,4806 2,4 10 128,6740 41,28 50
30,1580 95,80 796
"
—
568,0 0
Capit l 105,73 04 8,45,0 3,07.0 8,367,0
15,6904 9",50",60435,96 50 601,9254
8
New
Total
'*
$
2,87139,6248,0 0 5,0 0 35,29860 57,18 2,85,0
2,5074,90 54,70 157,2841 08,3621 38,0 0
',
Refundi g 2,15043,5 35,76250 18,79 38 10,732 43 30, 0
;
S
1936
J•
Capit l 369,2154 18,70 5038,490673 97,53 78 8,0 ,0
SOUM AFRY
$
New
3,0452,70
Total
6,0 ,0 2,485,0
105,7304
New
3,976 ,13
462,3457 ,3 8,0 0 5,0 0 31,9860 240,65834 1,750, 0
Capital 27,41320 18,70 0 2,51934 5,0,0 28,4760
4,218,750 893,0 0
8,4 5,0 1,785,2 0 5,0 ,0 4,651,750 5,0 ,0
25,0 0 41,370 27,41320 ,492 5025,1934 1,50.0 35,643509,218,750893,0 0 25,0 ,0 15,69.04
20069615,38 0 1, 5 28, 265, 3, 0 167,0150264,0 07,806, 0 60 ,0 0 49,30b"6 2,58074,9 30, 0 1,850, 02,0 ,0 8,125,0 4,50,0 245,0 0 7,50, 0 54,70 24,13 287,2 9,50 7,462,40 4,135,0 135,2604120,74 91350 ,0 0 1,9250 53,92750 265,94732 645,31890 274, 950 3,682,40 4,135,0 310,652 41 289,409138,5 1,0 60 ,0 01,9250 1 ,02750
1,9601,28
.
532,9 26 2f,~90",6 416,890471,075,0 972,5834
Refundi g
1936
24198, 752 0,73450 135,4 156240, 1963 4,239,0 31,0710 2,180453, 15,0 0 60 ,0 02,0 ,0 8,125,0 2, 87,50
453,21490 1,0965 ,034
Capital 162,04 69,0 46 6,285 482,496,50 31,54834 23,9580373,567,0 ~60 70 17,92",90 37,62154 15,0 0 1,250, 0
7, 50, 0 35,76250 21,8 7128 4,078,0 "523",90 51,869174 16,4379
2, 12,50 245,0 0
2,871396
35,08,530 129,530481 468,21490 1, 896,12204,9275 20,723,450 523,90 195,4730258,473.21 4,239,0 74,15,630 2,34576 '
18,70 50 2, 96,0 3,15 , 0 7,462,40 3,61,0 83,65 8674,597,164 50 ,0 0 1,925.0 18,6420 136,04251 17,04 72,61546 9,436748 9, 58,950 3,61 , 0 15,20 1 30,76 01 4,312,0 60 ,0 01,925,0 36,857120 532,9 6
New
31 notes. _ notes. notes. governm_t. aciesC&t_, 31 Notes manufctrig _h&ocld—ing, Notes— manufctrig h&oldicng, manufctrig h&oldcing, manufctrig h&oldcing,
bonads _ stock stock bonads stock Foreign— boands _ stock corpateCGaonverndmiantforeignLGooaavnnt,Munidpal—Stes,SPotaeins toal JEMNUODNLTHYS LBoongan-tnedrmdsRailroads utiles &cscotoepall,,,Eqmuainpumfcetrnets anodi indausntrdl b&uildcngs, ttrraudsintg,,Miscelanous SB&hoortn-edmsRailroads utiles. &ccsootpeall,,,Equmaipnumfcetrnets anodi indaustrl b&uildcngs, Shipng. Miscelanous Stocks—• Railroads utiles Equmaipnumfetnt aacensodri indausntridl b&uildcngs, Miscelanous Railroads utiles Equmiapnumfetnt aacensodri indausntrdl b&uildcngs, Miscelanous csoercpuriatte
MEJONUNDTLHYS Corpate—
ttrraudsintg,, &cscotoepaellr,,, ttrraudsintg,, &cscotoepaell,r,, ttrruadsitng,,
7
LcDomesti— ong-termShort-emPref red Com onCandi — Long-term Short-em Pref red Other Long-term Short-em Com on Total
Grand
Other Farm United
*
Total.
Total
7
Public Iron, Motors Other Oil. Land,Rub er
Ship ingInv.
Public Iron, Motors Other Oil. . Land,Rub er
Inv.
Total
Public Iron, Motors Other Land,Rub er Ship ingInv.
Oil
Total—
Public Iron, Motors Other Land,Rub er
Oil
Ship ingInv.
Total
Volume
DETAILS
1936
JULY,
DURING
'
%
-;
CAPITAL FLOTATIONS
NEW
OF
825
Chronicle
Financial
143
"
>J'
.
To Yield
Amount
'
Company and Issue, and by Whom, Offered, Including
About
Price
Purpose of Issue
.
.
'
Additional Underwriters
'
,
$
%
•
Railroads—
99H
29,500,000 Refunding
100
15,300,000 Refunding
New
Pacific RR. Equip. Trust 3J^s, AA, Aug. 1,
Missouri
Placed
Wheeling & Lake Erie RR. Co. Equip. Trust
Insurance
equipment
3^8, E, Aug, 1, 1996.
Stanley & Co., Inc.: Kuhn, Loeb & Co., and Edward B. Smith & Co.
0.625-2.875 The Chesapeake & Ohio Ry. Co. Serial Notes, % % to 2.875%, July 15, 1937-46.
Stanley & Co. Inc.; Kuhn, Loeb & Co., and Edward B. Smith & Co.
Placed privately
3,490,000 New equipment
1,400.000
3.52 The Chesapeake & Ohio Ry. Co. Ref. and Impt. Mtge.
privately
Offered by Morgan
Offered by Morgan
Placed privately with Prudential
1937-46.
Co. of America.
Placed privately with Union
2}£s, D, July 1, 1937-46.
Trust Co. of Pittsburgh..-
49,690,000
Public Utilities-
10,000,000 Refunding;
retire
account
open
4.18 Arkansas Louisiana
98
debt; working capital
Gas Co. 1st Mtge. 4s, July 1,1951.
Offered by Edward B. Smith & Co.; The First,
Co., Inc.; Blyth & Co., Inc.; Bonbrlght & Co., Inc.; Lazard Freres
Boston Corp.; Halsey, Stuart &
Co., Inc., and Harris, Hall & Co., Inc.
3.50 Bangor Hydro-Electric Co. 1st Mtge. 'dHs, July 1, 1966.
&
104^
7,108,000 Refunding
E.
1,250,000 Retire
notes
13,827,000 Refunding; general
corp.
Offered by Edward B, Smith & Co. and
W. Clark & Co.
Power Co. (Mich.) 1st Mtge. 4/^s, A, June 1, 1956.
Offered by Paine, Webber &
Co.; Nichols, Terry & Dickinson, Inc., and H. M. Payson & Co.
Indianapolis Water Co. 1st Mtge. 3>£s, July 1, 1966.
Offered by Morgan Stanley & Co. Inc.; Brown
Harriman & Co., Inc.; Cassatt & Co., Inc.; W. H. Newbold's Son & Co., and Graham, Parsons
4.77 Copper District
96H
payable.
100
3.50
104H
purposes
Placed
3.75 Long Island Lighting Co. 1st Ref. Mtge. 4s, July 1, 1963.
Insurance Co.; John Hancock Mutual Life Insurance Co.; New
& Co.
16,669,000 Refunding
——-
western
Co.; New England Mutual Life Insurance Co., and East
ance
1
34,000,000 Refunding
loans
bank
(retire
July 1, 1966.
Offered by The First Boston Corp.;
Corp.; Harris, Hall & Co., Inc.; Stone & Webster
and Blodget, Inc.; Paine, Webber & Co.; Hornblower & Weeks; Bancamerica-BIair Corp.; W. C.
Langley & Co.; Kidder, Peabody & Co.; Baker, Young & Co., Inc.; Bond & Goodwin, Inc.; Chas.
102.83
bonds)
3.35 The Narrangansett Electric Co. 1st Mtge. 33^8, A,
Bodell & Co.; Lehman Brothers; Lee Higglnson
3.14 The New York Edison Co.. Inc. 1st Lien and Ref. Mtge.
D.
30,000,000 Refunding
*
•.
River Savings Bank.
.
in¬
102
curred in payment of
privately with .Metropolitan Life
York Life Insurance Co.; North¬
Mutual Life Insur. Co.; Massachusetts Mutual Life Insur. Co.; Mutual Benefit Life Insur¬
Barney & Co., and Investors Trust Co.
Stanley & Co. Inc.; Kuhn, Loeb & Co.; Blyth &
-
33£s, E, April 1, 1966.
Offered by Morgan
Co., Inc.; Brown Harriman & Co., Inc.; Lazard
Co., Inc.; The First Boston Corp.; Edward B. Smith & Co.; Bonbright & Co., Inc.;
Lehman Brothers, and Clark, Dodge & Co.
Other underwriters were: Goldman, Sachs & Co.;
Hayden, Stone & Co.; Kean, Taylor & Co.; Kidder, Peabody & Co.; Lee Higginson Corp.; Mellon
Securities Corp.; F. S. Moseley & Co.; Schoellkopf, Hutton & Pomeroy, Inc.; White, Weld &
Freres
&
Co., and Dillon, Read & Co.
July 1, 1961.
Placed privately with Metropolitan
Co.; Northwestern Mutual Life Insurance Co.;
Society of United States:
Aetna Life Insurance Co., and Massachusetts Mutual Life Insurance Co.
.
Sioux City Gas & Electric Co. 1st Mtge. 4s, July 1, 1966.
Offered by A. C. Allyn & Co., Inc.;
Halsey, Stuart & Co., Inc.: W. C. Langley & Co.; Bancamerica-Bialr Corp.; Lee Higginson Corp.;
H. M. Byllesby & Co., Inc.; A. G. Becker & Co., Inc.; E. H. Rollins & Sons, Inc.; Stifel, Nicolaus
& Co.. Inc.; Emanuel & Co., and Granbery, Safford & Co.
Sioux City Gas & Electric Co. Serial Debenture 3s and 5s, July 1, 1937-46.
Offered by A. C. Allyn
John
4.10
98H
9,000,000 Refunding.
,
3.75 Queens Borough Gas & Electric Co. Ref. Mtge. 4s,
Life Insurance Co.; New York Life Insurance
104
10,350,000 Refunding..
1,500,000 Refunding
101-100
5,600,000
100
-
-
&
Life Insurance Co.; Equitable Life Assurance
Hancock Mutual
Co., Inc.
1st Mtge. 4s, April 1, 1961.
4.00 West Virginia Water Service Co.
Offered by Halsey, Stuart & Co.,
Co.; W. C. Langley & Co.; Arthur Perry & Co.,
Inc.; Coffin & Burr, Inc.; Graham, Parsons
& Co.
Wisconsin Michigan Power Co. 1st Mtge. 3Ms, July 15, 1961.
Offered by The First Boston Corp.;
Spencer Trask & Co.; The Securities Co. of Milwaukee, Inc.; Brown Harriman & Co., Inc.; Blyth
& Co., Inc.; Harris, Hall & Co., Inc.; J. & W. Seligman & Co.; Stone & Webster and Blodget,
Co.: Coffin & Burr, Inc. and Alex. Brown & Sons.
Other underwriters were: Mellon Securities
Corp. and Dillon, Read & Co.
,
Inc.; G. L. Ohrstrom & Co., Inc., and Janiiey
10,500,000 Refunding..
3.57
103
....
149,804,000
Iron, Steel, Coal, Copper. &c.
—
3.50 Hamilton Coke & Iron Co.
2,000,000 Refunding
Placed privately by W. E. Hutton & Co.
Zy2 % Mtge. Notes, 1941-46.
Equipment Manufacturers—
2,500,000 Refunding;
alteration
ment; working
of
equip¬
capital, &c
1
Ctfs., O, Feb. 1, 1937 to Aug, 1946.
Co., Inc., and Chandler & Co., Inc.
1.50-1 North American Car Corp. Equipment Trust 4H% Equip. Tr.
/101.49-
Offered by Freeman &
4.90/
96.8673
Co.; Central Republic Co.; Stroud &
-
Other Industrial & Mfg.—
Dickey Co.; Hemphill, Noyes & Co., and Riter &
14,500,000 Refunding; retire bank loans, &c._
Offered by Lehman Brothers; WellsOther underwriters were: Kalman & Co.;
43^8, July 1, 1948.
4.50 Northwest Publications, Inc. Debenture
100
4,200,000 Refunding; acquisitions
Co.
Piper, Jaffray & Hopwood, and Harold E. Wood & Co.
4.44 Southern Kraft Corp. 1st Leasehold and General Mtge. 4Ms,
98H
Boston Corp.;
Bancamerica-BIair Corp.; Halsey, Stuart &
June 1, 1946. Offered by The First
Co., Inc.; Blyth & Co., Inc.; Harris,
Co., Inc.; Lazard Freres & Co., Inc.; E. H. Rollins & Sons, Inc.; Paine, Webber &
A. C. Allyn & Co.. Inc.; Hemphill, Noyes & Co.; Domlnick & Dominick; Granbery, Safford &
Otis & Co., Inc.; Jackson & Curtis; Starkweather & Co., Inc., and Whiting, Weeks & Knowles,
Hall &
18,700,000
Co.;
Co.;
Inc.
Land, Buildings, &c.—
4.00 Most Reverend James A. Griffin
100
500,000 Refunding
1st Mtge. Serial 4% Notes,
Miscellaneous—
.
of the Diocese of Springfield, III.)
Offered by Metropolitan St. Louis Co., St. Louis, Mo.
(Roman Catholic Bishop
April 1,1937-48.
•
35,000,000 Refunding; provide working capital
IOIH
for subsidiaries.
3.37 Commercial Investment Trust Corp. Debenture
.
Lehman Brothers,
1,000,000 Expansion of business, &c
100
7.00 Metropolitan
Offered by Dillon; Read & Co.;
Other underwriter was Kuhn, Loeb & Co. .
1961. Offered by W. H. Cobb & Co.,
33^s, July 1, 1951.
and Lazard Freres & Co.; Inc.
Personal Loan Co.
Debenture 7s, June 1,
Inc., New York.
36,000,000
SHORT-TERM BONDS AND NOTES
(ISSUES MATURING UP TO AND
INCLUDING FIVE YEARS)
To Yield
Amount
Purpose of Issue
Company and Issue, and by Whom
About
Price
Offered, Including Additional Underwriters
%
$
Iron, Steel, Coal, Copper, &c.
Hamilton Coke & Iron Co. 5-Year
2,000,000 Refunding
&
.
Serial 3M% Notes, 1937-41.
Placed privately by W. E. Hutton
Co.
STOCKS
Par
or
(a)
No.
of Shares
Purpose of Issue
Amount
Involved
Price
per
To Yield
Share
Company and Issue, mid by
About
S
Whom Offered, Including Additional Underwriters
%
Motors and Accessories-^-
90,000 shs Retire mtge.; working capital, &c
900,000
10
American
Bantam Car Go.
into three shares of common
(Pennsylvania) Conv. Pref. Stock.
(Each share convertible
stock.)
Offered by Dingwall & Co., Inc. and Tooker & Co.
Other Industrial & Mfg.—
*81,288 shs Retire bank debt; impts., &o
1,219,320
10 H
Bridgeport
Brass
Co.
written by G. M.-P.
Common Stock.
Offered by company to stockholders; under¬
Murphy & Co.; Stone & Webster and Blodget, Inc.;R. F. Griggs
Co.; Hincks Brothers & Co., and
22,975 shs Additions; new machinery & equip
ment; working capital
1,148,750
45
corp. purposes..
4,106,600
150,000 shs Expansion; other corp. purposes..
15,145 shs New foundry; working capital
150,000
1
954,135
63
400,000 shs Additional capital.
700,000
1H
195,500
2H
*93,480 shs Wkg. cap'l; other
McEldowney, Wolfe & Co., Inc.
Corp. Conv. S3 Preferred Stock.
(Each share convertible into two
shares of common stock.)
Offered by company to stockholders; underwritten in part
by Hammons & Co., Inc.
Douglas Aircraft Co. Common Stock.
Offered by company to stockholders; underwritten
by Kuhn, Loeb & Co. and associates.
Frankemuth Brewing Co. (Mich.) Common Stock.
Offered by Walter W. Tait, Detroit.
Gardner-Denver Co. $3 Cum. Conv. Preferred Stock.
(Convertible into common stock
on a share for share basis.)
Offered by A. G. Becker & Co., Inc.
Grand National Films, Inc. Common Stock.
Offered by company to stockholders;
underwritten by Robinson, Miller & Co.; Fairfield Associates, Inc.; O'Brian, Potter &
6.00 Consolidated Aircraft
50
&o.; Cohu Brothers; Charles H. Jones
78,200 shs Development of business; working
capital, &c
684,000
24,000 shs Expansion of business..
15,000 shs DeveJopment of business.
40,000 shs Expansion; working capital
103,756 shs Retire bank loans
55,000 shs Retire 7% pref. stock; wkg. capital
90,000 shs Retire 6% pref. stock; wkg. capital
2
en
Powdrell & Alexander, Inc. Cbmmon Stock.
1 sh. pref & 1 sh.
24,000 shs Expansion of business
300,000
40,000
5,187,800
1,045,000
180,000
& Co., and Hartley Rogers & Co., Inc.
Offered by Charles E. Doyle <fc Co., New York.
Pref. Stock.
(Each share carries warrant to purchase one
stock.)
Offered by Brown Young & Co., Ino.
John Irving Shoe Corp. Common stock.
Offered by Brown Young & Co., Inc.
Kobe, Inc. (Los Angeles) $1.20 Cum. Pref. Stock.
(Each share carries a warrant for one
share of common stoke.)
Offered by Hartley Rogers & Co., Los Angeles, Calif.
LeMonde Corset Co. Common Stock.
Offered by Lawson & Knight, Detroit.
Philip Morris & Co., Ltd. Common Stock.
Offered by company to stockholders.
Pacific Can Co. Common stock.
Offered by Dean, Witter & Co.
Peninsular Metal Products Corp. Common Stock.
Offered by William C. Roney & Co.,
Hostetter Corp.
com.
20
1
50
19
for
$28H
John
(Md.) Common Stock.
Irving Shoe Corp. 6%
share if common
Detroit.
55,788
shs Retire 7% pref. stock; reduce cur¬
rent debt
67,410 shs Development of business
200,000 shs Additional working capital
'
*
.
369,595
741,510
750,000
li
SH
Rome Cable Corp. Common Stock.
-
Offered by company to stockholders.
Offered by Carl M. Loeb & Co.
Seversky Aircraft Corp. Common Stoclk.
Offered by J. A. Slsto & Co.
'
Chronicle
Financial
826
s. 1936
STOCKS—Concluded.
Par
or
(a) Amount
Involved
No.
Price
per Share
Purpose of Issue
of Shares
To Yield
Company and Issue, and by Whom
About
$
Offered, Including Additional Underurriters
%
Mfg.—(Concl.)
Other Indus. &
50
1,500,000
30,000 shs Retire current debt; wkg. capital
5.50 United
States Hoffman Machinery
Corp. 534% Cum. Pref. Stock.
Offered by com¬
Co.; Bond & Good¬
& Co.: Laurence Marks & Co.;
Common stockholders; underwritten by Hay den, Stone &
pany to
Inc.; Baker, Watts & Co.; Hemphill, Noyes
Mackubin, Legg & Co. and Brooke, Stokes & Co.
win,
900,000
40,000 shs Retire preferred stock.
Offered by Edward B. Smith & Co.
Stock.
Youngstown Steel Door Co. Common
22^
20,172,210
Oil-
Cryden Petroleum Corp. Common Stock.
Offered by Alan S. Gray <fc Co., Pontiac,
Fortney Oil Co. Common Stock.
Offered by company.
National Petroleum Corp. Pref. Stock.
Offered by Presser & Lubin, N, Y.
National Petroleum Corp. Common Stock.
Offered by Presser & Lubin, N. Y.
1
260,000
260,000 shs Acquire properties; wkg. capital.
167,674 shs Acquisition of properties
250,000 shs Acquire properties; wkg. capital.
125,000 shs Acquire properties; wkg. capital.
20,000 shs Retire 6% notes; wkg. capital..
1
167,674
2 shs.
1,250,OOOj
pref.i
1 sh. com.
For
$10
/
50
1,000,000
Offered by company to Common stock¬
534 % Cum. Conv. Pref. Stock.
5.50 Sunray Oil Corp.
Mich.
holders; underwritten.
100,000
8,000 shs Additional working capital.....
Offered by MacBride, Miller & Co., Inc., N. Y.
Trans-State Oil Co. Capital Stock.
12H
2,777,674
Land, Buildings, &c.
100,000 shs Working capital
5
500,000
Income Properties, Inc.
& Mortgage
Holding,&c
note; provide
Offered by The Bills Management
(111.) Prior Income Shares.
Corp., Chicago.
Inv. Tr., Trading,
150,000 shs
Retire
promissory
7,125,000
American Cities Power & Light
47H
Corp. Class A Stock, Optional
Dividend Series of 1936.
purchase on or before July I, 1937, 3 shares of Class B
purchase after July 1, 1937, and on
or before July 1, 1941, 1 share of Common Stock of The North American Co. at $35 per
share if exercised on or before July 1, 1939 and at $40 per share ij exercised thereafter and
on or before July 1, 1941.)
Offered by Rlter & Co.; Eastman, Dillon & Co.; Hemphill,
Noyes & Co., and E. H. Rollins & Sons, Inc.
Other underwriters were: Schwabacher
& Co.; Otis & Co.; Battles & Co., Inc.; Grlffith-Wagenseller & Durst; Stroud & Co.;
H. Vaughn Clarke & Co., and Mitchell, Herrick & Co.
(Each share carries a warrant to
funds for Investment purposes._
Stock of the company
at $834 ver share, or option to
Miscellaneous—
26,146 shs Expansion of business..
653,650
25
20,000 shs Additional working capital.
500,000
25
20,000 shs Acquire assets of Southern Security
570,000
28^
Metropolitan Personal Loan Co. Class A
Offered by W. H. Cobb &
Common Stock.
Co., Inc., New York.
Conv. Pref. Stock.
(Bach share convertible
into 1 2-3d shares of Common Stock until Aug. 1, 1937: thereafter to Aug. 1, 1938 into
1M shares of Common Stock and thereafter to Aug. 1, 1941 into 1 share of Common Stock).
Offered by Paul H. Davis & Co., Chicago.
Seaboard Finance Corp. $2 Cum. Pref. Stock.
(Each share carries a warrant to purchase
1 share of Common Stock at $10 per share on or before April 30, 1939).
Offered by
Leach Bros., Inc., N. Y., and James M. Johnston & Co., Washington, D. C.
6.00 Northern Illinois Finance Corp. $1.50 Cum.
Co., Inc., Atlanta
1,723,650
FARM LOAN AND
AGENCY ISSUES
GOVERNMENTAL
To Yield
Amount
Price
Issue and Purpose
I
Offered by
About
$
%
1,070,000 Atlantic Joint Stock Land Bank (Raleigh.
N. G.) 5-year 3% Farm
Loan bonds due
Aug.
100
1,1941 (refunding)
3.00 Robinson
Inc.; Priester-Quail & Co.;
& Co.,
Emerich & Co., Inc., and
460,000 Greensboro Joint Stock Land Bank 5-year
3% Farm Loan bonds due Aug. 1, 1941 (re¬
funding)
100
3.00 Robinson & Co., Inc.; Priester-Quail # Co.;
Emerich &
Nichols, Terry <fe Dickinson, Inc.; Ames,
Kirchofer & Arnold; Inc.
*
Nichols, Terry & Dickinson, Inc., and Ames,
Co., Inc.
550,000 Virginia-Carolina Joint Stock Land Bank
(Norfolk,
Va.)
334%
5-year
Farm
Loan
101
bonds due Aug. 1, 1941 (refunding)
2.97 Webster, Kennedy & Co., Inc.
2,080.000
NOT
ISSUES
Par
.
or
No.
(a) Amount
To
Involved
of Shares
$
Price
NEW FINANCING
Yield
Company and Issue, and by Whcm Offered, Including Additional Underwriters
About
$
320,000 shs
54,000 shs
4,552,000
REPRESENTING
%
Gar Wood Industries, Inc.
11
3,520,000
12
648,000
4,552,000
Offered by Shader Wlnckler Co., Detroit.
(Mich.) Common Stock.
The Jeannette Glass Co. Common Stock.
....
Offered by Stemmler & Co. and Herrick,
Helnzelmann & Ripley, Inc.
Offered by Goldman, Sachs & Co.; Bancamerica-Blair Corp. and Hedden
4.60 McCrory Stores Corp. Debenture 5s, May 1, 1951.
103M
&
140,000
327,852
162,926
.19,095
shs
1,225,000
m
pref.i
/
....
s
shs
shs
shs
2shs.
il,639,260j
954,750
'
Offered by August Belmont & Co. and Watson & White, N. Y.
National Petroleum Corp. Preferred Stock.
Offered by Presser & Lubin, New York.
National Petroleum Corp. Common Stock.
Offered by Presser & Lubin, N. Y.
Pan American Airways Corp. Capital Stock.
Offered to stockholders of National Aviation Corp.
Co., Inc.
Narragansett Racing Association, Inc. Common Stock.
For
lsh.com.
$10
50
12,539,010
*
Shares of
a
Preferred stocks of
no
par
value.
a
-
,
stated par value are taken at par. while preferred stocks
(Concluded from,
page
821)
some gen¬
agreement about policy, the possibility of inter¬
vention
becomes
imminent
more
danger to for¬
as
eigners and their property in Spain increases.
United States has exerted itself to evacuate
of
its
nationals
as
diplomatic representative
the
as
on
many
Madrid has notified
at
Spanish Government that it will be held
sible for attacks
The
willing to leave, and its
were
American
no par value and all classes of common
solini
Irrespective of negotiations looking to
eral
of
respon¬
A similar
property.
the French
fluence
or
vised all
others
to leave
Portugal have received
whom, it
may
to receive
test
nationals
refugees
not
a
all of
Germany is expected to
against the killing of
some
subjects by Communists in Catalonia and
upon
ad¬
France and
country.
many
and
be suspected, will be content merely
protection.
sharply
the
its
pro¬
German
an
attack
German merchant vessel by a Government
the
great fear that hangs
civil
lowed to
war
run
dents and
in
another
subscriptions,
success
or
The Spanish
party in Spain.
There
failure of
war
one
is
a
programs
of radical and revolu¬
tionary action of which Socialism and Communism
the
embodiment, and the theories and practices
which find their
dictatorship
Germany
which
the
saw
in
conflict"
in this country, on
War, between slavery and free¬
being re-enacted in principle in Europe in
struggle between radicalism and conservatism,
and the
for
illustrations
"irrepressible
The
Seward
of the Civil
dom is
the
Italy.
and
William H.
eve
an
fighting in Spain is being anxiously watched
indication
of the
way
in which the larger
expected to go.
over
Europe is that
The Course of the Bond Market
Spain cannot be isolated and al¬
its course,
but that the irritating inci¬
diplomatic strains which
are
its inevitable
armed
intervention
Bond
erately
prices,
precipitate
may
provoke
a more
general
war.
Premier Mus¬
ward,
on
this week.
ment and
accompaniment
and
manifestations,
public
conflict, happily not yet a conflict at arms, mav be
destroyer.
The
proposals, he called attention to the in¬
Europe between the
of
of
when, in his reply to
symbol of the great struggle which is going on in
are
most
intervention
stake than the
at
more
has
evacuated
of
to
campaigns and volunteer enlistments.
press
warning has been issued by-Great Britain, which
also
put his finger upon one of the most potent
incitements
is
stock are computed at their offering prices.
the
average,
have
changed
The general trend of
only
mod¬
domestic govern¬
corporate bond prices, however, has continued up¬
and averages for all major
highs for the
year.
groups
established new
Volume
Financial
141
bonds
as
whole
a
have
Ohio
4%s,
advanced 1
4%s, 1966,
80, and
to
The
and
Certain issues, such
held
week.
fairly
There
well in
was
no
new
comparison
with
each
fractionally for the most part.
other,
2%-5s, 1938-1950,
been
been
fractional.
issues
advanced
V
120
120 Domestic Corporate*
120 Domestic
Domes¬
by Ratings
Corporate* by Groups
tic
Averages
**
S
Aaa
Corp*
110.42
112.88
6-
110.30
112.69
5-.
110.23
112.69
4_.
110.19
112.69
3-
110.17
1
110.16
Aa
124.19
—
Baa
A
121.38
110.98
124.19
121.17
123.97
121.17
123.97
121.17
112.50
123.97
112.69
123.97
U.
on
YIELD AVERAGESt
Individual Closing Prices)
120.11
P.
120 Domestic Corporate
120 Domestic
ft
120
by Ratings
Corporate by Groups
30
Domes-
Averages
For-
110.61
97.62
108.03
110.23
110.42
97.62
108.03
110.42
110.61
97.78
108.03
110.42
t
3.67
4.90
4.28
4.16
3.67
t
t
4.15
4.90
4.28
4.15
3.68
t
4.14
4.89
4.28
4.15
3.67
4.90
4.28*
4.15
3.68
5.75
4.14
4.89
3.61
4.14
4.89
4.03
3.48
3.61
4.14
4.04
3.48
3.62
1-
119.69
120.96
3.67
4.15
3.61
3.48
3-
119.90
120.96
4.15
4.28
3.47
4.03
4.03
3.48
3.62
4.04
3.48
3.62
4.14
5—
110.42
4.27
4.03
6-
110.42
108.03
3.66
4.25
119.90
108.21
Indus
4.87
119.90
97.78
97.78
U.
4.14
RR
4.12
Aaa
4.02
110.61
P
Baa
3.60
tie
A
7-
110.61
Aug.
3.47
4—
Indus.
110.61
RR.
108.57
119.90
Aa
A
eigru
5.82
t
Weekly—
112.50
123.97
24—
109.92
112.11
123.53
17-
109.76
111.73
123.53
10—
110.05
111.54
123.32
120.33
3—
110.04
110.98
123.10
June 26— 109.88
110.79
109.93
12— 110.01
19—
averages
All
98.09
110.13
—
bond yield
and
1936
Weekly—
July 31
Ru¬
Daily
—
7
Aug.
and
moderately.
bond prices
(Based
Govt.
of the losses have
Bulgarian
Austrian,
MOODY'S BOND
(Based on Average Ytelds)
Bonds
French
given in the following tables:
are
MOODY'S BOND PRICESt
1936
a
South American bonds
sharply.
German,
Moody's computed
in
Daily
to 8 points
up
Gould Coupler 6s,
erratically.
have been generally lower, although most
at
have acted
have
supply issues, while
12% to 129.
rose
and Italian issues declined
debem
manian
and many issues
Gains
Foreign bonds continued to display mixed trends.
financing.
Group movements among industrial bonds have
variance with
particularly
not
The steels
mixed.
Prices of the oils have
conv.
previous
the
obligations,
been
1940, advanced 8% to 123%, and American Type Founders
American & Foreign Power
as
International Telephone & Telegraph
up
grade
have
-
.
tures, have been erratic on account of foreign disturbances,
but
stocks,
have been recorded among the building
price movements have been limited to a very narrow
5s, 2030, and
medium
1951, advancing 7 points to 126.
public utility bond market has been dull this week,
range.
by
the amusements have moved
1969, advanced 1 % to 93.
top
& Tube convertible 3%s,
receded
Pacific 4%>s,
Southern
of
issues
average,
been in demand, Youngstown Sheet
Illinois
to 79%;
%
advanced
1960,
while
influenced
Baltimore
Central
grade railroad bonds have had no definite trend.
&
higher,
Lower
4s, 1996, declined Ys to 118%.
the
On
quality have been firm; convertible bonds have been sharply
quite steady, although several standard issues showed
and Norfolk & Western
independent fashion.
an
remained
fairly
sharp price changes.
Atchison general 4s, 1995, declined Ys
to 114; Great Northern 4%s, 1961, were unchanged at 113y2,
railroad
High-grade
827
Chronicle
120.96
110.61
97.62
120.54
110.05
97.31
120.33
109.68
96.70
107.14
109.31
96.08
106.60
110.05
119.90
118.94
95.48
106.07
122.46
119.48
108.75
95.63
110.79
122.46
119.27
108.94
110.42
119.69
July 31-
110.23
119.07
24-
4.06
3.50
4.17
4.92
4.30
4.16
3.71
5.75
110.05
118.45
17-
4.08
3.50
3.65
4.19
4.96
4.33
4.17
3.74
5.77
118.45
10-
4.09
3.51
3.65
4.21
5.00
4.36
4.17
3.74
109.49
118.04
3-
4.12
3.52
3.67
4.23
5.04
4.39
4.20
3.76
5.80
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
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
95.93
118.04
4.37
4.24
3.76
5.95
108.03
107.67
3.64
5.82
110.98
122.67
119.07
108.94
106.42
109.75
12-
4.12
3.54
3.71
4.23
5.01
109.99
110.42
122.46
118.66
108.75
95.18
105.72
108.39
117.84
5-
4.15
3.55
3.73
4.24
5.06
4.41
4.26
3.77
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
5—
6.06
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
15-
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
5.89
8—
109.70
109.86
121.60
94.73
105.20
108.39
116.82
4.18
3.59
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
109.96
110.05
121.38
117.43
108.57
95.78
105.89
108.21
116.62
17-
4.17
3.60
3.79
4.25
5.02
4.40
4.27
3.83
5.83
9-' 109.75
3.78
4.25
4.99
4.37
3.83
5.83
•
—
17-
118.04
108.38
8:
3.76
4.26
4.44
5.09
4.26
3.82
4.26
5.84
110.42
121.60
117.63
108.57
96.23
106.42
108.39
9-
4.15
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
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
5.80
13-
116.62
3.59
5.83
"
120.75
117.63
95.63
106.07
108.03
116.22
4.17
3.63
3.78
4.24
5.03
4.28
3.85
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„
4.13
3.62
3.79
4.22
4.87
4.25
4.25
3.87
5.92
15... 108.52
110.61
120.96
117.43
108.94
97.62
107.85
108.75
115.81
15-
4.14
3.62
3.79
4.23
4.90
4.29
4.24
3.87
6.05
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
•
8..
1Jan.
31
—
24..
17—
109.11
110.05
108.22
108.75
107.96
109.68
120.75
116.82
108.03
95.78
105.54
108.57
109.68
120.75
116.82
108.03
95.63
105.37
108.57
115.41
107.89
109.68
120.54
116.62
108.21
95.78
105.37
108.57
109.31
120.11
116.62
107.85
108.39
5.94
6.10
1-
4.19
3.63
3.82
4.28
5.02
4.42
4.25
3 89
6.15
4.19
3.63
3.82
4.28
5.03
4.43
4.25
3.89
6.13
24..
4 19
3.64
3.83
4.27
5.02
4 43
4.25
3.89
6.11
3.66
3 83
4.29
5.06
4.47
4.26
3.91
6.17
115.41
108.34
4.39
.
31..
115.41
108.03
13-
Jan.
115.02
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
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
Hlghl936 110.42
112.88
124.19
121.38
110.98
98.09
108.57
110.61
120.11
Low
1936
4.02
3.47
3.60
4.12
4.87
4.25
4.14
3.66
5.75
Low
107.77
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
6.78
99.20
116.82
108.57
98.73
77.88
90.69
94.14
106.78
High 1935
4 80
3.82
4
25
4.83
0
40
5 37
6
13
4 35
6 97
4.55
3.73
4.15
4.56
5.74
4.99
4.41
4.25
6.16
4.93
3.91
4.31
5.02
6.49
5.02
5.34
4.45
7.30
1936
Low
1
1935
Yr
105.66
95.18
104.68
Ago
1
118.66
110.42
103.15
85.74
96.23
105.72
108.57
Aug.7,'35
97.16
115.02
107.49
95.78
76.89
95.78
91.11
105.03
Aug.7,'34
2 Yrs.Ago
2 Yrs.Ago
Aug.7,'34 105.73
*
6.26
Yr. Ago
103.32
Aug.7,'35 108.97
4.21
These prices are computed Irona average yields oa the basis of one "ideal" bond (4^ % coupon, maturing in
31 years) and do not purport to show either the average
level or the average movement of actual price quotations.
They merely serve to illustrate in a more comprehensive way the relative levels and the relative movement oi
yield averages, the latter being the truer picture of the bond market.
For Moody's index of bond price~ by months back to 1928, see the issue of Feb. 6, 1932, pagei 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 is. 1935,
page 3291.
ttAverage of 30 foreign bonds but adjusted to a comparable basis with previous averages of 40 foreign bonds.
♦ Daily averages discontinued, except hriday
of each week
■
'
1
Indications of Business Activity
nri4F
ct atf
STATE
THE
of
tradf
fommf R d AI
TRADE—COMMERCIAL
OF
FPITOMF
EPITOME
margin as was scored in the first half of the year.
trend ^ building costs is spurring industrial
to begin long postponed building
work immedi-
same
^
—-Friday Night, Aug. 7, 1936.
,
Business
the
continued
preceding
73.1 for
the
week's
to
hold at
corresponding week of
"Journal of Commerce."
decline
of
close
about
to
revised figure.
Electric
four-tenths
of
the
concerns
peak of 93.4,
This compares with
1935, according
output showed
1%
under
to
the
further
a
the
preceding
week, but stands well over the comparative week for 1935.
The steel industry continued to show strength and
stability,
with
operations for
the
current week
estimated
of capacity, according to the American Iron and
This
tute.
46.0
for
compares
the
same
at
71.4%
Steel Insti-
with 71.5 for the previous week and
a year ago.
The rate of steel
August, currently estimated at more
period
operations for early
71% of capacity, is unusually high for
a
slack
month.
a
good distribu-
than
tion
Not since 1929 has there been such
between
light
and
summer
steel demand, as well as
among
the principal consumers, such as the automobile
makers, the builders, the railroads, shipbuilders and the
container manufacturers.
be
lagging.
heavy
Scarcely
any
line
can
be said
to
The steel situation is regarded
healthy, and indications point to
a
as
inherently
steady improvement this
fall, certain observers predicting 100% capacity operations
for October.
Industrial building activity during
coming
months is expected to exceed last year's levels by about the
The construction costs index in July registered the
ately.
sharpest advance for the year to date.
Business is reported
now
near
1929 level as buying soars.
Wholesale activity
was
25 to 30% compared with the same period a year
up
Retail gains were 18% larger than a year ago.
Car
loadings broke the five-year record.
Total of 747,551 cars
this week is 16,489 cars ahead of the previous week and
ago.
152,254
cars
time the
the same
over
week of 1935.
For the first
734,730 cars reported in the
figures exceeded the
corresponding period of 1931.
There were no very marked
changes in the weather the past week.
The interior drought
continued
there
was
entire
and
unrelieved except
in very small
areas.
nearly an entire absence of precipitation
In fact,
over
the
betwen the
Appalachian and Rocky Mountains,
droughty conditions wre intensified rather generally,
area
On the western fringe of the drought area there were some
beneficial rains in limited areas,
principally in the western
portions of Kansas and Nebraska and adjoining sections to
the West; a considerable part of Northern Montana had
helpful showers.
provement and
and
In
North-Central
worse.
Water
these
areas
the outlook is
States
the
better,
situation
but
conditions
over
shows
im-
the interior
gradually
became
supplies of farms and towns in the Western
828
Financial
plains
the
area
drought.
89,000.
is
beginning to be dangerously affected by
Added sufferers swell the relief roster to
are
As far
afflicted
most
by this unprecedented drought, there
700,000,000 bushels in the United
Experts figure _the crop as 900,000,000 bushels below
domestic requirements.
The weather in the New York City
area the early part of the week was
excessively humid and
will
be
shortage
a
84; Pittsburgh, 60 to 76; Portland, Me., 56 to 64;
Chicago,
60 to 74; Cincinnati, 64 to 80;
Cleveland, 66 to 76; Detroit,
58 to 82; Charleston, 78 to 90;
Milwaukee, 64 to 74; Sa¬
vannah, 74 to 90;
Dallas, 82 to 96: Kansas City, 70 to 80;
Springfield, Mo., 70 to 80; Oklahoma City, 78 to 100; Salt
City, 62 to 90; Seattle, 60 to 70; Montreal, 58 to
78,
Lake
Winnipeg,
Selected
62 to 90.
Income
and
Balance
Steam
Sheet
Items
of
Class
I
Railways for May
The Bureau of Statistics of the
Commission has issued a statement
Interstate
The movement of the Index
parisons, is
Fri.
July 31
Aug. 1
Aug. 3.
Tues. Aug. 4
Wed. Aug. 5
Thurs.Aug. 6
Fri,
Aug. 7
Sat.
-.182.5
-
184.0
The report in full is
STATES
For the Month
May.
as
.-182.2
183.0
-.183.7
-...
.-.
1936 High—
183.6
1935
$
Total income..—
REVENUE
FREIGHT LOADED
Interest deductions
Other deductions
1936
";-'V
$
$
r'-;"
Total fixed charges
Income after fixed charges.
11,303,366 .55,884,240 .v55,416,404
42,010,195 207,647,413 210,337,672
216,625
1,093,179
1,089,184
53,039,897
d
53,530,186 264,624,832 266,843,260
d3,668,161 d27,626,737 d51,178,021
1,419,743
999,831
Net income.a.
999,831
5,016,859
July 25
4«(7. 3
1936
1935
1936
1936
1935
Chesapeake & Ohio Ry
Chicago Burlington & Quincy RR
Chicago Milw. St. Paul & Pac. Ry
Chicago & North Western Ry
New York Central Lines
New York Chicago & St. Louis Ry
Norfolk & Western Ry
...
5.417
4,585
32,260
25,305
18,183
15,605
15,262
23,374
10,629
10,197
12,905
7,412
16,310,938
1,273,546
80,694,433
8,790,671
81,227,662
6.636,863
11,70
,152
7,819,909
13,677,751
3,559,611
28,087,655
12,729,411
15,112
7,937
6,587
8,135
8,145
6,747
13,863
11,071
10,607
8,520
2,316
2,269
1,286
1,199
2,080
1,925
1,682
1,738
1,174
2,015
4,908
4,543
Selected Asset Item.s—
affiliated companies
;
Cash
...
Demand loans and deposits.
Time drafts and deposits
....
___
—
—
...
Special deposits
Loans and bills receivable
Traffic and car-service balances receivable.
Net balance receivable from agents and
conductors.
„
Miscellaneous accounts receivable
Materials and supplies....
Interest and dividends receivable.
Rents receivable
----—■
...
Other current assets
-
;
.
....
Total current assets
8,818
37,491
5,722
21,835
16,807
4,585
4,252
3,544
68,224
43,313
4,973
42,980
33,621
5,975
55,363
5,076
7,367
29,723
27,797
5,325
24,389
6,232
6,419
5,151
7,698
7,938
—
5,028
7,221
•
689,538,566
763,962,004
352,684,887
10,851,936
38,516,633
63,327,800
4,901,185
54,025,740
45,917,809
144,450,684
302,399,810
41,575,309
2,575,193
4,614,083
*
Funded debt maturing within six
months, b—
Loans and bills payable c___
Traffic and car-service balances
277,033,718
—
payable
Audited accounts and
wages payable...!
Miscellaneous accounts payable...
Interest matured unpaid
'
Dividends matured unpaid....
Funded debt matured unpaid-—.
Unmatured dividends declared.
,
.
.
...
_.
.... ........
.
.
.
—
Unmatured interest accrued....
Unmatured rents accrued
i.
......
-
Other current liabilities
.
———
217,005,139
242,432,497
75,488,529
241,343,791
87,312,416
458,113,818
1. 2,145,525
440,319,309
19,798,911
119,662,619
41,264,762
21,167,100
320,570,268
67,682,597
220,402,264
62,290,863
339,452,497
4,640,543
291,185,816
15,897,423
122,078,586
40,142,909
18,185,245
1,749,049,277 1,502,529,011
Tax liability—United States
Government taxes
Other than United States
Government taxes
59,262,245
134,280,931
37,088,535
138,266,215
a The
net income as reported includes
charges of §1,454,945 for May, 1936,
and $7,148,016 lor the five months
of 1936 on account of accruals for excise
taxes
levied under the Social
Security Act of 1935: also $4,080,835 for May, 1936, and
$12,068,063 for the five months of 1936 under the
requirements of an Act approved
Aug. 29, 1935 levying an excise tax upon carriers and an
income tax
and
upon
for
other
purposes.
(Public
their
No.
400, 74th Congress.)
The net
Income for May, 1935 includes credits of
$8,622,514, and for the five months of 1935
credits of
$4,429,827, on account of reversal of charges previously made for liability
under the Rai road Retirement Act of
1934.
b Includes
payments which will become due on account of
principal of long-term
months after close of month of
report,
c Includes
obligations which mature not more than two
years after date of issue,
d Deficit or other reverse items.
debt within six
Moody's Daily Commodity Index Advances
Moderately
Moody's Daily Index of Staple Commodity Prices gained
moderately this week, closing at 183.6 this Friday, as com¬
pared with 182.5 last Friday.
However, on Monday the
Index established a new high at 184.0.
'
7,781
4,443
3,809
6,331
6,175
x8,216
x8,196
5,434
x5,539
6,470
352,370 346,118 282,977 197.457 192,827 157,672
Excludes
cars
interchanged
between
LOADINGS AND
S.
P.
Co.—Pacific
RECEIPTS
FROM
Lines
and
Texas
&
CONNECTIONS
"
(Number of Cars)
Weeks Ended—
Aug. 1, 1936
July 25, 1936
Aug. 3, 1935
25,769
32,278
21,230
St.
13,996
26,236
30,630
13,890
72,043
70.756
58,718
Louis-San Francisco Ry
Total
-
25,691
11.797
,
The Association of American Railroads in
reviewing the
July-25 reported as follows:
week ended
Loading of
This
cars.
freight for the week ended July 25, totaled 731,062
of 135,490 cars or
22.7% above the corre¬
revenue
was
increase
an
sponding week in 1935, and 121,020
cars or
19.8% above the corresponding
week in 1934.
Loading of
10,660
freight for the week of July 25
1.5% above the preceding week.
revenue
cars or
was
increase of
an
Miscellaneous freight loading totaled 288,623 cars,
an increase of 4,401
above the preceding week, 61,916 cars above the
corresponding week
cars above the corresponding week in 1934.
Loading
of merchandise
less
than
carload
cars, an increase of 1,865 cars above the
lot
freight
totaled
preceding week, 7,359
162,337
cars
above
the corresponding week in 1935, and 3,823 cars above the
same week in 1934.
Coal loading amounted, to 112,946
cars, an increase of 4,436 cars above
the preceding week, 10,030 cars above the
corresponding week in
and 11,276 cars above the
Grain
3,533
and
grain
same
cars below the
In the
Western
1934.
totaled
preceding week, but
the corresponding week in
1934.
week in
products loading
an
1935, and 11,395
1935,
v
55,022
cars,
decrease
a
of
increase of 21,665 cars above
above the
cars
same
week in
Districts alone, grain and grain products loading
for
Total current liabilities.
employees,
9,058
in 1935, and 65,731
...
.
9,547
Chicago Rock Island & Pacific Ry.
Illinois Central System
$
l1,157,065,215 1,065,841,069
Liability Items—
7,125
32,165
New Orleans RR. Co.
cars
Selected
2,238
*
8,817
39,507
5,892
Southern Pacific Lines
37,567,286
7,845,482
437,315,902
3,774,699
30,787,294
87,745,060
3,378,911
59,467,891
50,890,069
146,683,844
299,881,095
28,695,324
2,411,169
6,033,957
.....
2,974
13,709
34,745
5,890
1935
Investments in stock, bonds, &c., other than those of
2,921
16,339
41,258
Balance at End of May
1936
7,856
17,091
17,941
68,546
Pere Marquette Ry
x
18,398
22,393
22,415
Pennsylvania RR
TOTAL
On common stock
On preferred stock.
5,285
31,872
Missouri Pacific RR
19,193
22,698
18,033
25,099
18,286
2,628
2,128
4,753
17,204
41,961
International Great Northern RR
21,658
d4,667,992 d32,658,596 d56,194.88Q
16,171,620
2,295,116
.
Federal income taxes
Dividend appropriations:
Weeks Ended—
;
Aug. 1
21,643
Total
Depreciation (way structures and
equipment)
Received from Conn ections
Lines,
Aug.'!
Atchison Topeka & Santa Fe Ry.
Baltimore & Ohio RR
Wabash Ry
d2,419,574
...
5,031,859
Own
on
July 25
Pittsburgh & Lake Erie RR
Contingent charges
CONNECTIONS
Aug. 1
Missouri-Kansas-Texas RR
11,406,319
RECEIVED FROM
1936
1935
■'
49,862,025 236,998,095 215,665,239
41,415,076
218,502
—
AND
IPeets Ended—
51,252,365 244,829,967 222,952,253
1,390,340
7,831,872
7,287,014
51,620,154
162.7
(Number of Cars)
Gulf Coast Lines
Income, avail. lor fixed charges
Fixed charges:
Rent for leased roads,
184. 0*
—
'
of
39,598,511 187,931,356 160,673,753
11,653,854 56,898,611 62,278,500
1,533,112
Low—
Latest Week
Loaded
For the Five Months
$
53,153,266
Aug. 3
May, 12
Loadings of revenue freight for the week ended Aug. 1,
1936, totaled 747,551 cars. This is a rise of 16,489 cars, or
2.3%, from the preceding week, a gain of 152,254 cars; or
25.6%, over the total for the like week of 1935, and an increase
of 134,891 cars, or 22%, over the total
loadings for the
corresponding week of 1934.; For the week ended July 25
loadings were 22.7% above those for the like week of 1935,
and 19.8% over those for the
corresponding week of 1934.
Loadings for the week ended July 18 showed a gain of 21.6%
when compared with 1935 and a rise of
16.9% when com¬
parison is made with the same week of 1934.
,
Miscell. deductions from income.
175.5
165.4
Freight Car Loadings Reach 747,551 Cars in
(ALL REGIONS)
of May
1936
41,842,148
11,311,118
!
177.9
—
7
7
Oct.
7 & 9 —175.3
Mar.18*.- —-148.4
Low—
—
—
July
Aug.
follows:
Income Items
Net railway operating Income..Other Income
Ago,
Year Ago,
1935 High—
switching and
THE UNITED
com¬
The first 18 major railroads to report for the week ended
of
FOR
2 Weeks Ago, July 24
Month
—
—
Mon.
Revenue
during the week, with
follows:
as
Aug. 1, 1936, loaded a total of 352,370 cars of revenue
freight on their own lines, compared with 346,118 cars in
the preceding week and 282,977 cars in the seven
days
ended Aug. 3, 1935.
A comparative table follows:
These figures are subject to revision and were
compiled
138 reports representing 144, steam
railways.
The
present statement excludes returns for Class I
TOTALS
steel and'
corn,
Commerce
from
companies.
wheat,
showing the aggregate
totals of selected income and balance sheet items
of Class I
steam railways in the United States for the
month
terminal
made by silk,
were
remained unchanged.
sugar
These
sweltering conditions were later
broken by cooling showers, and on
Thursday a heavy bene¬
ficial rain fell all day, bringing about marked
coolness.
Today it Was fair and warm here, with temperatures
rang¬
ing from GO to 74 degrees.
The forecast was for partly
cloudy tonight and Saturday.
Warmer Saturday.
Over¬
night at Boston it was 56 to 64 degrees; Baltimore, 66 to
and
Net advances
of
States.
uncomfortable.
Aug. 8, 1936
coffee, while the prices of cocoa, hides, rubber, hogs, cotton
and wool declined.
The prices of silver,
copper, lead and
the corn crop is concerned, which grain
as
the
Chronicle
"
„
the week ended July 25, totaled 34,193 cars, a decrease of
3,601 cars
below the preceding week this year, but an increase of
12,042
the same week in
cars
above
1935.
Live stock loading amounted to 13,648 cars, an increase of
1,333 cars
above the preceding week, and 3,976 cars above the same week in 1935, but a
decrease of 12,647 cars below the same week in 1934.
In the Western
districts alone, loading of live stock for
10,518 cars,
3,624
cars
Forest
an
increase of 842
above the
products
same
cars
the
above the
week ended
loading
totaled 34,700
cars,
above the preceding week, 6,018 cars above the
12,987
cars above
Ore loading
the
the
same
amounted to
preceding week,
20,474
an
increase
preceding week, but
cars
an
of
year
week in
same
712
and
55,174
cars
cars,
above
increase of 4,052
cars
1935, and
week in 1934.
"4
an
the
increase
of
1,494
cars
cars
corresponding week in
and 24,371 cars above the corresponding week in 1934.
Coke loading amounted to 8,612 cars, a decrease of 48
and 4,084
July 25 totaled
preceding week this
week in 1935.
above the
cars
same
above
1935,
below the
week in 1935,
above the same week in 1934.
All districts reported increases in the number of cars loaded with
revenue
reight, compared with the corresponding weeks in 1935 and 1934.
Loading of revenue freight in 1936 compared with the two previous
follow:
s-.
"
years
Volume
Financial
143
Chronicle
In
1935
1936
Four weeks in January..
Four weeks in April
Five
weeks in May
Four weeks in June
Week of July
4
Week of July 11
592,672
595,572
17,385,601
17,787,638
3,351,801
2,787,012
649,759
724,324
720,402
731,062
-
Week of July 18
Week of July 25
Total
2,465,735
471,126
565,502
19,416,417
REVENUE
FREIGHT LOADED AND
RECEIVED FROM
when compared
vania
the
were
New York
System, the Baltimore
Illinois Central
1934
555
901
257
236
•Chicago Indianapolis & Loulsv
1,075
7,364
1,268
6,945
1,260
9,403
2,023
8,499
1,564
66
15
27
68
56
1,090
4,654
8,904
917
837
8,011
4,034
8,795
1,984
6,848
6,639
1,724
6,275
5,438
Macon Dublin <fe Savannah....
4,477
442
215
238
151
110
1,952
1,240
2,297
14,152
6,462
1,802
1,269
7,478
1,061
1,791
11,942
5,267
1,573
Nashville Chattanooga <fe St L.
Tennessee Central..
.
Detroit «fc Mackinac
Detroit Toledo <fc Ironton
2,890
Detroit <& Toledo Shore Line..
2.191
368
•Grand Trunk Western
352
210
13,743
4,895
Erie
11,850
4,212
11,945
164
Lehigh & Hudson River
Lehigh & New England---
1,354
Lehigh Valley
8,940
1,050
3,693
150
33,959
9,324
.1,640
4.192
5,156
4,741
1,639
7,874
2,501
3,105
2,105
35,497
9,158
2,170
4,791
4,528
4,859
215
144
343
51
19
463
Maine Central
173
1,722
6,989
253
230
223
141
1,627
1,014
.
2,843
Monongahela
<b New York Central Lines
3,602
2,411
41,258
N. Y. N. H. & Hartford
10,265
Montour
New York Ontario <fc Western.
1,812
N. Y. Chicago & St. Louis
5,722
7,246
5,975
Pittsburgh & Lake Erie
Pere Marquette
"Pittsburgh & ShawmutPittsburgh Shawmut & North.
Pittsburgh & West Virginia.
2,794
3,753
2,302
955
1,200
__
2,032
244
185
40
45
37,491
11,349
1,843
9,058
6,150
4,443
1,013
Georgia & Florida
1936
1935
915
1,512
1,207
346
Illinois Central System
Louisville & Nashville
296
273
362
1,691
20,517
19,218
Gulf Mobile & Northern..
1,425
16,580
16,205
1,148
18,257
15,328
1,035
688
10,726
8,755
3,569
149
132
241
307
4,796
347
245
202
Mississippi Central...
Mobile & Ohio
Total
from Connections
131
134
341
243
1,630
2,696
1,398
2,276
1,542
2,327
1,559
2,733
1,330
1,958
Grand total Southern District
327
332
657
523
55,564
——
45,188
46,607
29,103
22,826
95,124
79,228
80,348
60,324
47,507
2,767
10,607
3,165
8,145
4,091
1,955
8,285
2,494
6,708
2,711
441
963
6,052
1,533
31,550
10,208
1,739
7,242
5,982
3,786
•
Southern
Total Loads Received
705
884
579
690
Delaware Lackawanna & West
the
1
Group B (Concluded.)—
Georgia
529
Delaware & Hudson
RR.,
1934
1935
1936
7,971
1,675
Central Vermont
which showed
Central Lines, the Pennsyl¬
& Ohio
Freight Loaded
—
Central Indiana
week last
same
Total Revenue
Railroads
Eastern District—
1,191
with the
System:
1935
1936
show also the
CONNECTIONS (NUMBER OF CARS)—WEEK ENDED JULY 25
from Connections
1935
to
System, the Atchison Topeka & Santa Fe System, and the
Total Loads Received
1936
TBangor & Aroostook
Boston & Maine
undertake
we
The most important of these roads
increases
Total Revenue
Ann Arbor
following table
showed increases
year.
Freight Loaded
Railroad
the
loadings for separate roads and systems for the week ended
July 25, 1936.
During this period a total of 119 roads
2,183,081
2,920.192
2,461,895
2,340,460
3,026,021
2,504,974
520,741
604,192
616,040
610,042
2,169,146
2,927,453
2,408,319
2,302,101
2,887,975
2,353,111
3,135.118
2,418,985
2,544,843
Five weeks in February.
Four weeks in March
1934
829
Rutland
652
562
561
981
855
Wabash
6,419
4,323
4,852
3,421
5,628
7,938
3,419
7,202
130,513
150,153
127,641
394
608
Northern District—
Belt Ry. of Chicago
Chicago
Chicago
Chicago
Chicago
853
811
709
21,456
& North Western
15,499
1,995
16,634
18,418
2,799
20,465
3,729
9,468
Great Western
Milw. St. P. & Pacific.
St. P. Minn. & Omaha
22,393
4,126
Duluth Mlssabe & Northern...
13,687
Duluth South Shore & Atlantic.
1,014
7,259
Elgin Joliet & Eastern
Ft. Dodge Dee Moines & South.
2,664
3,244
9,387
200
154
857
413
354
3,393
964
4,861
4,984
3,505
302
354
172
128
15,582
14,566
3,418
2,813
515
484
502
561
435
3,512
Green Bay & Western
Lake Superior & Ishpeming
572
21,975
Great Northern.
2,333
1,327
1,958
2,365
5,509
5,349
9,017
102
89
2,143
2,420
1,458
2,193
3,558
2,686
578
Wheeling & Lake Erie
•
2,969
2,539
Minneapolis & St. Louis
2,292
6,898
Minn. St. Paul & S. S. M
Northern Pacific
152,781
129,458
620
464
350
32,260
26,108
4,008
26,262
3,846
15,262
6,010
2,499
12,679
1,465
314
322
275
7
7
1,147
5,714
1,001
974
14
18
5,361
5,136
10,309
9,101
803
625
72
38
40
•Cumberland & Pennsylvania.
299
284
"263
Ligonler Valley
Long Island
Renn-Reading Seashore Lines
119
40
61
34
11
682
760
798
1,137
899
68,224
13,389
13,900
56,735
11,448
1,020
52,905
12,138
2,397
1,257
1,620
1,085
33,723
12,833
3,272
198
295
190
1,536
1,554
1,221
931
121,183
88,912
95,701
48,262
37,089
21,658
3,268
19,432
2,656
20,614
2,659
5,417
2,534
4,371
1,935
291
223
156
55
22
18,398
13,724
6,250
1,525
10,978
2,087
16,557
1,167
11,834
2,554
7,937
1,658
13,490
3,009
758
516
833
831
2,561
2,034
8,406
2,330
1,442
2,928
6,253
1,680
1,014
2,038
380
-
-
351
1,601
885
Spokane Portland & Seattle—
Total
8,093
10,016
Spokane International
Total
331
1,174
1,355
1,486
1,094
974
1,028
838
813
1,828
1,751
1,335
1,069
88
72
941
1,107
528
467
91
124
73
83
20,588
5,427
3,285
Allegheny District—
Akron Canton & Youngstown
'Baltimore & Ohio
-
Bessemer <fc Lake Erie..
Buffalo Creek .& Gauley.
•Cambria & Indiana
Central RR. of New Jersey—
—'
Cornwall
Pennsylvania System
Reading Co
-
'Union (Pittsburgh)
West Virginia Northern
Western Maryland
,
5,977
37
54
'
42,980
15,096
.5,567
5,836
30
68
28
0
0
3,348
3,041
3,247
5,616
5,182
Central Western District—
Atch. Top. & Santa Fe System.
Alton
Bingham & Garfield
Chicago Burlington <fc Quincy..
Chlcago & Illinois Midland
Chicago Rock Island & PacificChicago & Eastern Illinois
Colorado & Southern
Denver & Rio Grande Western.
Denver & Salt Lake..
Fort Worth & Denver City
Illinois Terminal
Nevada Northern
—
North Western Pacific
Total.
147,996
—
116,841
113,255
81,651
101,738
22,178
Southern Pacific (Pacific)
St. Joseph & Grand Island
Included
Pocahontas District—
18,655
21,496
17,373
965
Norfolk & Western
20,253
745
730
.Norfolk & Portsmouth Belt Line
System.
Utah
3,288
11,428
11,737
1,270
9,084
165
180
5
1,607
1,419
.1,909
2,117
1,057
6,735
7
1,613
89,822
97,302
52,589
39,301
160
Western Pacific
454
146
—
212
108,952
8,579
10,197
4,252
1,209
P.
21
13,667
Union Pacific System
23,374
21,835
18,159
in U.
17
488
Toledo Peoria & Western
Chesapeake & Ohio
231
782
259
Peoria & Pekin Union—
1,821
-
3,855
-
*
1,025
Virginian
3,611
3,780
3,262
748
679
Total..
49,785
43,433
42,861
10,406
13,571
Total
Southwestern District—
Group A—
Atlantic Coast Line
Burlington-Rock Island
* v
—
Fort Smith & Western
.
7,419
1,172
•Clinchfleld
•Charleston & Western Carolina-
6,417
5,989
1,012
189
2,030
1,310
1,849
1,299
International-Great Northern._
2,080
2,232
1,972
267
152
120
2,164
1,607
1,666
1,295
1,482
1,571
267
1,199
1,738
1,072
2,111
1,156
378
711
Kansas Oklahoma & Gulf
151
278
204
38
90
73
Kansas City Southern
Louisiana & Arkansas
'
Norfolk Southern
205
2,316
40
32
283
150
-—
148
181
Gainesville Midland
4,596
139
104
Gulf Coast Lines
366
550
Durham & Southern
126
180
3,377
4,137
1,575
1,086
903
164
152
102
Alton & Southern
Southern District—
.
—
2,851
883
1,549
862
937
1,201
1,184
1,066
867
Louisiana Arkansas & Texas—
171
76
75
486
384
438
355
353
859
656
Litchfield & Madison..
325
204
225
943
707
341
306
348
555
624
622
226
6,072
18,094
5,982
18,179
3,149
2,787
10,979
Midland Valley
7,529
20,802
3,494
3,413
14,525
146
85
101
251
183
127
698
579
4,379
14,202
2,485
138
4,344
13,499
2,929
159
4,705
16,339
8,818
7,208
39,560
Piedmont & Northern.
34,040
33,741
31,221
24,681
—
Richmond Fred. & Potomac
Seaboard Air Line
.'Southern System
"Winston-Salem Southbound.
.-
Missouri & Arkansas..
.—
Missouri-Kansas-Texas Lines.
.
Missouri Pacific
32
67
Natchez & Southern
Total.
46
151
31
16
72
116
113
7,290
1,987
8,159
4,081
2,079
3,194
Texas & New Orleans
5,619
499
406
Terminal RR. Ass'n
4,191
3,125
1,163
2,485
896
Wichita Falls & Southern
238
77
55,241
47,878
1,092
685
689
3,540
3,681
209
175
245
366
386
397
422
328
Note—Figures for 1934 revised.
Michigan Central RR.
..
168
732
♦
Previous figures,
221
a
Not available,
•
Prices
Higher
During
Week
Total.
b Includes figures for the Boston
Ended
by Commissioner Lubin, of the Bureau of Labor Statistics,
United States Department of Labor.
The all-commodity
index computed by the Bureau advanced
0.1% during the
week, Mr. Lubin said; he stated:
all-commodity index
now
.average, and is on a par with the
■reached since late in
ponding week of
a
February.
stands
at
80.3%
in terms of the 1926
July 11 level, which
was
the highest point
The current index is 1% above the
corres¬
month ago and 0.9% above the
corresponding week of
year ago.
a
'
Five of the 10 major commodity
groups—farm products, hides and leather
products, textile products, fuel and lighting materials, and metals and metal
products—increased slightly during the week.
miscellaneous
commodities
•housefurnishing goods
declined.
Foods,
remained unchanged.
35
57,478
48,078
Prices of
Chemicals and drugs and
.building
materials,
'
.
and
raw
materials advanced 0.3%, and finished products
substantial increase over a month ago.
finished products
1.5%.
-
3,768
& Albany RR., the C. C. C. & St. Louis RR., and the
rose 0.1%.
Each of these groups shows
Semi-manufactured articles remained steady.
a
.Wholesale commodity prices continued moderately
upward
during: the week ending Aug. 1, it was announced on Aug. 6
The
qf St. Louis
Weatherford M. W. & N. W__
United States Department of Labor Reports Wholesale
Commodity
Aug. 1
101
52
2,769
235
„
Florida East Coast
>
96
26
50,062
76
18,473
169
216
2,030
1,674
2,265
3,583
15,215
3,932
2,452
244
—
1,820
5,480
4,309
1,908
5,198
Texas & Pacific
161
1,489
1,081
4,332
Atl. & W. P.—W. RR. of AlaCentral of Georgia.....
& Greenville
98
8,290
2,442
106
186
Atlanta Birmingham & Coast—
•Columbus
103
St. Louis Southwestern
Group B—
Alabama Tennessee & Northern
Quanah Acme & Pacific
St. Louis-San Francisco
are up
'
Raw materials
are 1.3% higher,
1%, and semi-manufactured articles have risen
'
'
The index for commodities other than farm products
(non-agricultural)
advanced 0.1% in the week, and is 1% higher than the corresponding index
for
July.
Compared with a year ago
average
agricultural commodities have increased 0.4%.
farm
wholesale prices of
non-
All commodities other than
products and processed foods, representing industrial commodities,
0.1%.
Despite this decrease, industrial commodities are 0.6%
declined
above
a
month ago and 1.9% above a year ago.
The announcement made available
on
by Commissioner Lubin
Aug. 6 contained the following:
A sharp advance in prices of Oklahoma natural gasoline and
rising prices
of anthracite coal and gas caused the index for the fuel and lighting materials
group to
increase 0.3%.
Prices of bituminous coal remained firm.
The farm products group rose 0.1% due largely to higher prices for most
grains, livestock, eggs, timothy hay, seeds and potatoes in eastern markets.
Lower
prices were reported for oats, live poultry, cotton, fresh apples
Financial
830
lemons, oranges, hops, dried beans,
Portland,
month
a
and for potatoes in the Chicago and
The current farm products index—81.5—is
Oregon markets.
1.6% above
and 4% above a year ago.
ago
products
were
Continued
silk
rayon,
increase
advances
as
in
goods and higher
cotton
September, 1935. .Strengthen¬
Pig'tin prices continued downward.
tributed to the advance.
implement,
The agri¬
vehicle and plumbing and heating subgroups
motor
declined 15.2% during the week.
Average
declined 0.3% because of lower prices for
tallow, coconut oil and camphor.
Corn and palm kernel oils were higher.
Fertilizer materials and mixed fertilizers were unchanged at the level of the
general
unchanged.
level
edible
salt,
tallow,
and
and
banartas,
products
raw
canned and dried apricots, dried peaches,
cured and fresh pork,
veal,
and dressed
to
stable.
chops and salt pork to 2.4% for sliced ham.
Beef showed an increase of
Roasting chickens maintained their recent sharp advance.
0.6%.
The cost of dairy products rose
The index for this group is higher
2.6%.
All items in the dairy products
corresponding date since 1930.
than for any
Butter increased 7.0% and was higher in every
group
advanced in price.
city.
The conumer price of fresh milk rose 0.3%.
of 0.9 cents per quart in
and in Charleston,
Milk prices were slightly lower in Boston
The price of cheese was up in 49 cities with an
S. C.
Evaporated milk showed
increase for all cities of 2.9%.
average
There was an advance
Cleveland and smaller increases were reported for
Birmingham and Pittsburgh.
increase of
The
2.2%.
a price
1.7%.
INDEX NUMBERS OF RETAIL COSTS OF FOOD BY
COMMODITY GROUPS
-
July 14
Ago
1935
1932
1929
June 16
July 16
July 15
July 15
68.3
weighted
country's markets and is
84.0
84.2
86.8
80.2
Cereals & bakery products
90.7
90.4
90.4
92.1
75.6
97.9
94.9
94.4
94.0
98.1
79.3
125.9
Dairy products..
79.6
77.5
76.5
72.7
63.8
101.6
All foods
Eggs..
67.8
65.0
63.0
68.8
49.3
91.3
80.8
85.1
85.2
62.6
62.6
107.2
81.9
87.0
87.1
60.6
62.4
108.3
Fresh
index numbers for the main groups of com¬
78.8
78.4
78.3
84.5
72.7
98.5
59.3
58.9
58.4
63.2
55.1
103.5
67.0
Canned
Dried
and for Aug. 3, 1935, Aug. 4, 1934, and
1933:
67.1
66.9
69.9
74.2
110.6
72.8
73.0
82.1
49.9
64.7
64.5
66.2
56.5
Fats and oils
73.0
Sugar and sweets
(1926=100)
64.9
Preliminary
a
Aug.
July
July
July
July
Aug.
Aug.
Aug.
1
25
18
11
4
3
4
1936
1936
1936
1936
1935
1934
1933
80.3
80.2
80.1
80.3
79.5
79.6
75.1
69.2
58.7
72.6
Prices were higher in 50 cities.
A portion of this
increase is seasonal.
The
66.6
93.3
*
.
Eggs advanced 4.3%.
5
1936
106.5
Fruits and vegetables
Beverages and chocolate._
All commodities
Ago
June 30
a
Meats
the year 1926 as 100.
Commodity Groups
Corresponding Period in—
4 Weeks
2 Weeks
Commodity Group
Current
Average prices of
of the 1926 average.
their relative importance in the
the average for
1936
V
(
stationary.
The following table shows
5,
1.2%,
ranging from 0.4% for pork
price increases reported for all,items,
machines did not
change in the index for the housefurnishing goods group as
modities for the past five weeks
Aug.
with
The cost of pork rose most,
items in the group.
15 of the 21
Prices were higher
0.5% to the level of last February.
Meats advanced
Average prices of brick
Chinawood oil declined.
The index of the Bureau of Labor Statics includes 784 price series
on
weights of the loaf in four cities.
reported in prices of yellow pine lath, redwood,
were
It remained at 82.6%
were
according
This decrease resulted from lower prices or increased
0.1%.
Three Year Average 1923-25=100
A slight advance in wholesale prices of electric sewing
whole.
13 items in this group.
(1.0%), and for flour
cornmeal
building materials group remained at 86.8 although
the
turpentine, and rosin.
furniture
of
Compared with the corresponding week
July.
and tile, cement and structural steel were
any
increased 0.3% during the two
White bread showed an average price
the New England cities.
most in
however, it is 2.9% lower.
fractional increases
bring about
was
well above the
Flour was up in 30 of the 51 cities reporting, with prices advancing
(2.1%).
above that for
week's food index—81.0—is 0.2%
This
sugar.
year ago,
based
1.8%.
Additional individual food items
Lower prices were reported for flour at Toledo, smoked salmon
The index for
a
0.5%,
reported were butter, flour in the Minneapolis
beans,
baked
the corresponding week of
a
dairy
vegetable oils, increased
most
declined 5.4%.
vegetables
and St. Louis markets, cornmeal,
poultry.
costs
Higher prices were recorded for nine of the
greatest relative increases were for
The
the foods group remained
0.4%,
advanced
products
for which higher prices were
of
for
prices
wholesale
of
Cereal
0.8%, and the subgroup of "other foods," including cocoa beans,
raisins,
1929, when the index
commodity group showed
every
cost of lamb fell off
preceding week.
and
when
The cost of cereals and bakery products
weeks.
for
The chemicals and drugs group
oil,
They are 21.1% below costs on July 15,
and
crude rubber, and paper and pulp
firm.
Fruits
higher
.
Wholesale prices of cattle feed
oleo
It is 4.8
than for July 15, 1932, when the index was
Food costs are 23.0% higher
106.5
decline
unchanged.
prices of automobile tires and tubes,
The
The Com¬
period of one year ago.
68.3.
products group rose to 86.3% of the
ing prices for scrap steel and brass and copper manufactures largely con¬
meats
change."
present level.
The index for the metals and metal
were
no
of the 1923-25 average.
The current index is 84.0%
prices for taw silk,
hosiery and burlap caused the textile products group to
1926 average, the highest point reached since
cultural
showed
missioner further reported:
,
jute declined.
remained
costs remained unchanged, the
1.1%.
Twenty-nine foods
Had potato
was
Linen handkerchiefs, woolen and worsted goods and raw
0.1%.
1936
8,
index would have advanced by
than for the corresponding
unchanged.
yarn,
increase.
an
Average prices of shoes and other leather
reported in prices of sheepskins.
,
A sharp decline
higher prices for hides and goatskins.
of
Aug.
decreased in price and two
products group advanced to 94.1
The index for the hides and leather
result
a
Chronicle
index
the fruits
for
and
vegetables
declined
group
5.1%.
This
decline is attributable almost entirely to the drop in potato prices which
lower in 42 of the 51 cities and showed an average decrease of
were
13.5%.
Farm products
81.5
81.4
80.8
82.5
80.2
78.4
Foods
81.0
81.0
81.3
81.8
80.8
83.4
71.8
65.1
If potatoes were
Hides and leather products
94.1
94.0
93.8
94.3
94.2
90.0
85.1
90.4
would have shown
Textile
70.3
70.2
70.1
69.6
69.5
70.0
71.1
70.8
77.0
76.8
76.9
77.0
76.4
75.0
74.7
66.6
Metals and metal products
86.3
86.2
86.1
86.1
85.6
85.8
86.2
80.8
Building materials.
86.8
86.8
86.1 "
86.1
85.7
85.3
87.1
80.9
potatoes, showed price changes ranging from a decrease of 0.1% for green
beans to
products
Fuel and lighting materials
advances
with
omitted from the fruits and vegetables group, the index
advance of 1.0%.
an
Chemicals and drugs
78.9
79.1
79.0
78.6
78.3
78.5
75.5
73.4
82.6
82.6
82.5
82.4
82.6
81.9
83.0
75.4
70.5
71.3
71.4
70.7
70.3
67.5
69.9
65.0
79.7
79.5
79.3
80.3
78.7
X
X
X
of 2.5% in the price of
74.4
X
X
X
and
80.9
X
X
X
1
Raw materials
75.5
articles-
Finished products.
_
75.5
75.2
81.7
81.6
81.4
81.4
80.1
Semi-manufact'd
75.0
80.0
79.9
79.9
79.3
79.8
76.9
71.5
79.4
79.2
78.9
77.9
78.4
73.6
All commodities other than
farm
products
x
vegetables
beans
navy
any
79.5
rose
of
cost
weeks ago.
and
Weekly Index of Wholesale
Commodity Prices During Week Ended Aug. 4
as
the
grains reflected,
did the rise in butter and
the persistence of the
of course,
eggs.
Other commodities that were
Steers,
higher included hogs, pork, lard, bananas, tea, hides, hay and silk.
Dried fruits
and 1.1% for tomatoes.
beverages
and
chocolate decreased 0.2%.
one
Of the
showed
seven
Sugar and sweets
Food
index.
The prices of
Cocoa rose 0.5%.
a return
to the level of four
The price of lard increased 0.6%.
rose
0.2%.
decreased
in 26
Sugar advanced 0.3%, due to higher prices
'
costs
of the
cities included in the composite
51
They increased in 22 cities and remained unchanged in 3.
Lake City, where potato prices fell
3.5%.
Manchester,
with
an
25.8%,
average
showed the greatest
decrease
of
2.5%
for
reported the heaviest drop in the cost of fruits and vegetables.
both
of
and
items in the group, four rose in price, two decreased,
change.
no
,
in 14 cities.
Sharp advances in the grains carried the "Annalist"
Weekly Index of Wholesale Commodity Prices to the
highest point since Jan. 28, the index rising to 127.9 on
In noting this the
Aug. 4 from 126.6 (revised) July 28.
"Annalist" also had the following to say:
advance of
corn
The price of lima beans increased 1.1%
Prices of both of these items are higher than for
1.7%.
The cost of fats and oils increased 0.3%
Further Rise in "Annalist"
The
advanced 0.6%, due in large part to an increase
canned
0.7%.
coffee, tea and chocolate were slightly lower.
Not computed.
drought,
rose
of the price reporting periods so far dining the current year.
The
79.4
11.1% for lettuce and 15.2% for sweet potatoes.
The cost of canned products
All commotitles other than
farm products ana foods
increase of
an
10
Fresh fruits and vegetables, other than
11 of these cities.
Housefurnishing goods
Miscellaneous
Lemon prices increased 21.6%,
reported from 49 cities and amounting to more than
cents a dozen in
and potatoes fell off more than 20.0%.
apples
greatest in cities of the South, Mobile, with a 3.1%
Rock, with
vegetables
a
all
foods,
The price
Increases were
advance, and Little
In both cities, the cost of fruits and
3.0% rise, ranking first.
rose
Salt
decrease,
sharply, contrary to the general movement for this group.
potatoes, lemons, cotton and wool were lower.
Cabbage, which showed an average decrease of 0.6%, increased 46.1% in
THE ANNALIST WEEKLY INDEX OF WHOLESALE
Mobile and 36.6% in Little
COMMODITY PRICES
Rock.
INDEX NUMBERS OF RETAIL COSTS OF FOOD BY REGIONAL AREAS
Unadjusted for Seasonal Variation (1913=100)
Three Year Average
Aug. 4, 1936
July 28, 1936
Aug. 6,
1923-25=109
1935
1936
Farm
124.4
X121.5
xl27.1
135.6
111.2
Metals
...
Current
164.3
112.8
2 Weeks
Regional Area
108.1
170.8
112.8
^
Fuels...
xlll.l
170.8
Textile products
Corresponding Period in—
118.9
128.2
products...
Food products
4 Weeks
Ago
Ago
1935
1932
1929
June 30
June 16
July 16
July 15
July 15
109.2
July 14
a
„
111.8
111.8
111.5
84.2
83.8
80.2
68.3
106.5
Chemicals
97.1
97.1
98.6
New England
82.9
83.0
82.6
79.2
68.9
106.4
Miscellaneous
87.1
87.1
83.0
Middle Atlantic
84.2
84.8
84.6
80.8
70.1
127.9
X126.6
126.4
East North Central
85.4
86.0
85.1
81.0
68.7
109.2
x74.8
74.7
West North Central
88.2
87.9
87.3
83.7
66.3
108.3
South Atlantic
83.4
82.7
82.4
80.3
67.0
104.9
Building materials
i__
All commodities
y
All commodities on old
x
Revised,
y
foliar basis.
75.8
Based on exchange quotations for France, Switzerland and
Holland;
United States
,
84.0
106.2
Retail
Cost of
Food
Down
0.3% During
Two
Weeks
Ended July 14 According to United States Depart¬
ment of Labor
"A
13.5% decline in the cost of potatoes caused the general
during the two weeks
ending July 14," Commissioner Lubin of the Bureau of
Labor Statistics of the United States Department of Labor
announced July 31.
"All food groups with the exception of
fresh fruits and vegetables and beverages and chocolate
registered a rise during the period covered," Mr. Lubin said.
index of retail food costs to fall by 0.3 %
"Prices of 53 of the 84 food items carried in the index showed
East South Central
81.2
79.6
78.5
62.3
104.7
West South Central
80.9
79.1
78.4
78.2
62.5
103.4
Mountain
Belgium included prior to March 1935.
88.7
90.1
90.1
83.7
67.3
108.2
Pacific
79.6
80.0
80.3
76.3
66.4
102.5
a
75.7
Preliminary.
Wholesale Commodity Price Average
Further Advanced
Aug. 1 Reaching the
Highest Level Since December 1930, According to
During
the
the
National
Under the
Week
Ended
Fertilizer
Association
leadership of grains and foodstuffs, the weekly
wholesale commodity price index compiled by the National
Fertilizer Association continued to move upward during the
week ended Aug. 1, reaching the highest point since Decern-
Volume
Financial
143
79.0% the previous week.
and a year agq at 77.7%.
Association's announcement, under date of Aug. 3,
1928 average, as compared with
A month ago it stood at 77.9%
continued:
831
The average daily production of electricity for public use in the United
Last week the index stood at 79.5% of the 1926-
ber, 1930.
The
Chronicle
States in June
of the total.
TOTAL MONTHLY PRODUCTION
but the sharp rises in these two
sufficient to result in the
Corn and wheat prices
groups were
dollar
a
the highest point reached
at
in several years.
decline in the index of livestock prices, with advancing
not
quite offsetting falling
1926-1928 average
week
higher during the week with 20 items included
Food prices were generally
in the group
estimates.
which feU off in response to private crop
cotton,
was
lambs, sheep,
calves,
The most important commodity to
poultry.
There was a slight
quotations for hogs
and
decline in price during the
prices for cattle,
index advancing and only one declining; the food index was
still below the level reached in 1935 and early this year, however.
Higher
quotations for burlap, rayon, silk, and cotton yarn were counter-balanced
by the decline in the price for cotton with the result that the textile index
remained unchanged.
A decline in lumber prices was responsible for the
Produced by
1935
Over
1935
1934
1936
1935
11%
15%
11%
14%
13%
15%
1935
Oats and barley also increased in price dur¬
bushel.
a
Increase
1936
Over
1936
9%
6%
4%
5%
37%
34%
42%
45%
43%
36%
39%
40%
44%
46%
46%
44%
43%
39%
37%
32%
37%
36%
sharply to the highest levels reached in the past six years, with corn,;
going above
was
OF ELECTRICITY FOR PUBLIC USE
Increase
upward movement of the all-commodity index.
ing the week, and the grain price index at 95% of the
+1.8%.
The normal change from May to June is
The production of electricity by the use of water power in June was 36%
during the week
Commodities other than grains and foods moved lower
rose
303,031,000 kwh., 3.4% more than the average daily
was
production in May.
Kilowatt Hrs.
January
February
April
...
May
June
Kilowatt Hrs.
9,245,639,000
8,599^026,000
8,904,143,000
8,891,574,000
9,085,954,000
9,090,918,000
March...
8,349,152,000
7,494,160,000
8,011,213,000
7,817,284,000
8,020,897,000
7,872,548,000
8,370,262,000
8,573,457,000
9,138,638,000
4%
5%
10%
11%
14%
13%
14%
13%
99,393,073,000
....
9.2%
July
August
September
October
November
8,208,267,000
_.
8,844,416,000
8,692,799,000
.
_
December
Total.....
Water Power
40%
downward movement in the building material price index.
Advances
were
the index and declines by 16; in the preceding week there were
and
Coal Stocks and Consumption
registered during the week by 41 price series included in
43 advances
10 declines; in the second preceding week there were 55 advances and
26 declines.
The
total stocks
of coal
held by
the electric power utility plants
July 1, 1936 amounted to 6,647,563 net tons.
This
was a
of 0.8% when compared with the amount of coal in reserve on June 1, 1936
and 16.1% below the stocks on July 1, 1935.
WEEKLY WHOLESALE COMMODITY TRICE INDEX
tons
net
1926-1928=100
Complied by the National Fertilizer Association.
which
Latest
Per Cent
1.
Foods
Week
Ago
Ago
July 25,
July 4
1936
1936
Aug. 3
1935
79.9
79.3
81.3
801,059 net tons in May to 3,152,991 net tons in
75.3
71.5
69.4
The
93.1
90.4
90.7
Electric power utiUty plants consumed
74.5
70.8
72.2
68.9
66.2
95.0
89.2
78.3
80.2
77.4
73.1
74.4
Fuels
79.7
79.9
79.5
76.4
77.4
75.6
69.2
7.7
Textiles
70.2
70.2
68.2
Metals
84.4
84.4
83.1
5.8
Building materials
82.0
82.8
82.6
Chemicals
94.6
94.6
94.4
Fertilizer materials
66.5
66.5
64.5
Fertilizers
73.1
73.1
71.1
73.7
92.6
92.6
92.6
92.0
79.5
79.0
77.9
77.7
.3
Farm machinery
All groups combined
June, 1936,
or
12.6%.
or
2.2%.
enough bituminous coal on hand at electric power
was
\
plants producing 10,000 kwh.
64.6
.3
from 2,-
rose
June', 1936,
of anthracite0 also rose from 153,003 net tons in May to 156,370 net
or more
on
the operation of all
power
month, engaged in generating
per
electricity for public use, including central stations, both commercial and
95.4
.3
the 2,954,062 net tons
over
Consumption of bituminous coal
The quantities given in the tables are based
77.5
1.3
3,309,361 net tons of coal in
12%
ments.
81.6
.....
increase of
an
utility plants to last 53 days, and enough anthracite for 211 days require¬
68.1
6.7
drugs
was
In terms of days supply, which is calculated at the current rate of con¬
77.3
Miscellaneous commodities..
and
This
sumption,-there
78.8
73.0
16.4
10.3
use
tons in
76.8
76.6
Cotton
Livestock
1936.
consumed in May, 1936.
Grains
Farm products
June,
anthracite,
were
June 1, 1936.
95.5
Cottonseed oil
100.0
on
77.6
-
Fats and oils
22.3
hand
on
82.2
-
Total Index
28.6
Of this total stock, 5,548,363
1,099,200 net tons
Week
Group
Bears to the
bituminous coal and
decrease of 1.7% and an increase of 4%, respectively, when
a
compared with the stocks
Year
Month
Preceed'g
were
were
Aug. 1,
1936
Each Group
municipal,
electric railway
plants,
operated by
plants
steam railroads
generating electricity for traction, Bureau of Reclamation plants, public
<
works plants, and that part of the output of manufact ring plants which is
sold.
The
output of central station, electricurailway, and public works
plants represents about 98% of the total of all types of plants.
r
on
slight decrease
Revised.
are
Reports
of the total capacity.
received from plants representing over 95%
[The Coal Division, Bureau of Mines, cooperates in the preparation of
these reports.]
Chain Store Trade at Year's Peak
Expansion of chain store trade continued in June with
greater acceleration, according to the current review of
trade by "Chain Store Age."
With conspicuously heavy
gains in some lines, the field as a whole showed the most
extensive
Important
generally
assuming
desired
thus
increase
further continued:
factors
favorable
within
both
chain
to
effects.
The
trade.
well maintained,
were
normal
seasonal
distribution
factor.
The
Store
bonus was,
June
in
were
although
conditions,
some parts of the country, produced the
price structure continued good, with
in
Industrial employment
and pro¬
certain lines at rates considerably above
given
impetus
public
to
of course, a big,
if
spending
more
trade in the chain store field in June,
index,
Age"
month taken as
by
the
14.2% Above
Last
Year
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.
1, 1936 totaled 2,079,137,000 kwh.
lotal
output for the latest week indicated a gain of 14.2% over the
corresponding week of 1935, when output totaled 1,821,398,000 kwh.
Electric output during the week ended July 25 totaled
2,088,284,000 kwh.
This was a gain of 14.5% over the
1,823,521,000 kwh. produced during the week ended July 27,
The Institute's statement follows:
1935.
PERCENTAGE INCREASE OVER PREVIOUS YEAR
less temporary,
or
100.
rose
to
108.0
of
the
measured by the
as
1929-31
average
for the
The index stood at 103.0 in May, and in June, 1935,
indexes
"Chain
Ended
Week
Major Geographic
Regions
Aug.
Week Ended
Week Ended
2 Wfo. End.
July 25, 1936
1, 1936
July 18, 1936
July 11, 1936
of' sales
for
June
for
the
various
covered
groups
by
the
Store, Age" were as follows as compared with May:
New England....
12.7
Middle Atlantic
96.3.
was
The
The
industry
Weather
Production
The Edison Electric
,
state of
"Chain
it
levels.
of the
publication
retail
gratifying absence of distress goods.
Outside, conditions continued strong.
duction
The
outside the
and
store
drought proportions in
seasonal
witnessed.
far
■
Electric
Weekly
10.9
9.7
11.2
11.8
Central Industrial
18.2
18.2
21.4
21.3
10.6
15.7
16.7
18.4
West Central
—
12.2
10.6
16.9
Southern States
May, 1936
116.7
108.0
Five-and-ten-department chains
Grocery chains
95.4
Shoe chains
...
Drug chains
18.8
20.0
19.2
17.5
28.0
9.5
12.6
8.9
13.0
14.2
14.5
16.2
16.5
Total United States.
116.8
125.0
.
17.4
16.0
Pacific Coast-.—...-.
93.0
117.8
120.0
119.2
Apparel chains
18.4
Rocky Mountain
June, 1936
120.3
Production of Electricity for Public Use
June
(In Thousands of
Kilowatt-hours)
Geological Survey of the United States Department
of the Interior, n its monthly electrical report disclosed that
the production of electricity for public use in the United
States during the month of June totaled 9,090,918,000
kwh.
This is a gain of 15% when compared with the
7,872,548,000 kwh produced in June, 1935.
For the month
of May, 1936, output totaled 9,085,954,000 kwh.
Of the June, 1936, output a total of 3,261,586,000 kwh.
was produced by water power and 5,829,332,000 kwh.
by
fuels.
The Survey's statement follows:
.
PRODUCTION
OF
ELECTRICITY
STATES
FOR
PUBLIC
USE
IN
THE
UNITED
(IN KILOWATT-HOURS)
Total by Water Power and Fuels
6...
May
June
13
June
June 20—.
June 27...
July
July
4
11...
18...
July
25...
July
1..'.
Aug.
8...
Aug. 15...
Aug. 22...
Aug. 29...
Aug.
590,529,000
587,704.000
583,795,000
Middle Atlantic
2,299,849,000 2,314,245,000 2,298,552,000
East North Central. 2,095,611,000 2,098,305;000 2,043,825,000
West North Central.
526,047,000
554,985,000
588,119,000
South Atlantic
1,155,245,000 1,091,522,000 1,062,202,000
East South Central.
357,879,000
390,818,000
386,804,000
West South Central
419,855,000
446,405,000
493,142,000
Mountain...
324,577,000
369,359,000
375,494,000
Pacific
1,121,982,000 1,232,611,000 1,258,985,000
from Previous Year
May
June
+7%
+12%
+11%
_
...
Total for U. S
8,891,574,000 9,085,954,000 9,090,918,000
+ 15%
+2%
+ 16%
+ 13%
+23%
+20%
+5%
+28%
+5%
+21%
+23%
+ 14%
+ 11%
+19%
+ 14%
+13%
1931
1930
1929
1.435
1,442
lj441
1,457
1,342
1,621
1,657
1,690
1,699
1,703
1,821,398 + 14.2
1,819,371
1,832,695
1,839,815
1,809,716
1.658
1.659
1,674
1,648
1,627
DATA FOR RECENT
+ 15%
MONTHS
1935
Ch'ge
1934
7,762,513 +11.6
7,131,158
8,025,886
March
7,048,495
7,500,566
7,382,224
7,544,845
7,404,174
7,796,665
8,078,451
7,795,422
8,388,495
8,197,215
8,521,201
+13.9
6,608,356
7,198,232
6,978,419
8,375,493
8,336,990
May
8,532,355
.
July
AugustSept
—
—
Oct
Nov
Dec
Total.
1,656
1,539
1,648
1,654
1,662
1,416
1,434
1,440
1,650
1,627
1,650
1,630
1,637
1,427
1,415
1,432
1.436
1,465
1,610
1.635
1,607
1,604
1,645
1,651
1,644
1,643
1,629
1,643
1,638
1.636
1,707
1,698
1,704
1,594
1,626
1,667
1,686
1,723
1,592
1,712
1,727
1,723
1,678
1,692
1,677
1,691
1,688
1,725
1,730
1,733
1,750
1,762
(THOUSANDS OF KWH.)
8,664,110
Feb
1,598
P. C.
1936
of—
Jan
June—
New England
1932
1,542
1,578
1,724,491
1,742,506
1,774,654
1,772,138
1,655,420
1,766,010
1,807,037
1,823,521
April...
April
1933
1,655
1,666
1,675
1,688
1,556
1,648
1,664
1,684
1935
1,945,018
1,989,798
2,005,243
2,029,639
1,956,230
2,029,704
2,099,712
2,088,284
2,079,137
Month
Percentage
Change in Output
Division
1934
+12.8
+14.2
+13.0
+14.5
+ 18.2
+14.9
+ 16.2
+14.5
1936
June
Weekly Data for Previous Years
in Millions of Kilowatt-hours
P. C.
Ch'ge
of-
Up 15% During
The
FOR RECENT WEEKS
DATA
Week
-
•
93,420,266
+11.7
+12.9
+ 13.1
7,249,732
7,056,116
7,116,261
7,309,575
6,832,260
7,384,922
7,160,756
7,538,337
1933
1932
6,480,897
5,835,263
6,182,281
6,024,855
6,532,686
6,809,440
7,058,600
7,218,678
6,931,652
7,094,412
6,831,573
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
1931
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
85,564,124 80,009,501 77,442.112 86,063,979
Note—The monthly figures shown above are based
on
reports covering approxi¬
mately 92% of the electric light and power Industry and the weekly figures
based on about 70%,
are
Chronicle
Financial
832
Canadian
Agricultural
and
Business
viewed by S. H. Logan,
dian Bank of Commerce
Conditions
Industrial Activity
"Industrial
Drought
and
and
Central
ing, the Bank also had the following to say in its
Review"
by rains and cold weather.
favorable rains.
for
industry
of
tracts
On
of
metal
of New York Federal
of Goods During First
Activity
Business
of
In
Reserve Bank—Distribution
Compared Favorably with June
Half of July
3.0%
in
senting
Review"
"Monthly
its
increased
somewhat,
rise
unseasonal
induced
from
36
retail
in
loadings
cities
sales
the
active
York
however,
area,
department
than seasonally,
more
sales
store
accompanying
exceedingly hot weather.
June
activity are shown in the following table:.
business
of
indexes
1935, there
was
a
.
Massachusetts
metal trades
and
the demand for machine tools and
May and June.
the sales
reported
month
as
year
a
volume of 831 retail establishments in Massa¬
$21,671,485,
gain of
a
Increases
ago.
were
11.3%
reported
over
in
the
corre¬
the
each of
11
,
fall merchandise got under way.
in
business
as
metropolitan
declined somewhat
have
appeared to
Reports to the Department of Commerce
indicated considerable increases in
clothing and various vacation items, and wholesale
summer
more
.
activity continued to make a highly
showing during July, notwithstanding the drought
which has taken a heavy toll of the Nation's crop
ays the
August. "Monthly Letter" of the National City Bank of
New York issued Aug. 3.
The bank points out that "al¬
though the month is normally one of considerable seasonal
lack in industry, manufacturing operations have been pro¬
longed well beyond the usual time of summer decline, so that
final production figures for the period are expected to make
an unusually good comparison with those of
previous months
and of a year ago."
In part, it adds:
throughout the country
of
New
reported by the
Connecticut,
for
.
favorable
increase in grain shipments and to an
of livestock, reflecting forced marketings
large
a
conditions.
by drought
trade became
In
to
and June.
May
"Trade and indu trial
and miscellaneous freight over the railroads
the movement of bulk commodities was also
and
largely
due
orders
Retail Sales
The Bank continued:
Shipments of merchandise
higher,
.
Highly Favorable Showing of Business Activity During
July Noted by National City Bank of New York—
Soldiers'
Bonus
Payments Factor
in
Improved
1 its monthly
Aug.
of
.
continued to increase between
1936,
was
.
construction
♦
June," said the Federal Reserve Bank of New York in pre¬
indexes of business activity.
England
major classifications.
of
July compared favorably with
first half of
the
goods in
New
daily average basis, was $720,000, as compared
$638,000 for June, 1935.
Changes in daily
parts indicated that although residential con¬
between
of
reports
June,
sponding
"According to available weekly data the distribution
component
products
chusetts
the
May and
in
basis
the
a
on
in
55.9% greater in June, 1936, than in June,
were
decrease
awarded
contracts
new
the
of
employment
Indexes
bales in May to 2,970 bales
In comparison with June, 1935, the daily rate
1.9%.
June,
for
$694,000
values
slightly higher level this year
England
New
consumption in June of the current year increased 18.5%.
value
The
smaller field.
than last but it will be spread over a
compared
June, a rise of
with
whose harvests are well below
Farm income as a whole may be at a
of
consumption of raw cotton by New England cotton manu¬
average
of cotton
•
normal.
divisions
major
reported moderate increases in operating
with May, and were
substantially above
exception
as
facturing establishments increased from 2,915
Eastern
accumulated
wheat supply is regarded in some quarters as offsetting the effects of this
year's crop damage, but such views apparently ignore the fact that higher
prices are of no benefit to farmers whose crops have suffered complete
destruction, and are of little benefit to those
the
however,
year,
one
June
"Monthly
1:
1935.
Daily
and the easing of the problem of disposing of the
last year
current
with
in
June,
and quality of certain agricultural products
The improvement in the price
the
In
industry
Canada and British Columbia have had
over
of Aug.
rates
area
part of July
normally between May and June there is a mod¬
in most lines of manufacturing."
Continu¬
decrease
erate
extensive damage to the
in the Prairie provinces and in
Deterioration in Ontario was, however,
Ontario.
Southern
checked in the latter
during June was
New England
in
according to the Federal Reserve Bank of
Boston, which said that "the records of previous years indi¬
cate that
have wrought
heat
excessive
of two-thirds of the planted
activity
well sustained,"
his
crops
Federal Reserve District—June
Well Sustained
Boston
Conditions in
Re¬
General Manager of Cana¬
monthly review of conditions in Canada, S. H.
Logan, General Manager of the Canadian Bank of Com¬
merce, Toronto, reports that "forestry and mining continue
to find expanding export markets, construction has been
active, the total for June and July was $38,671,000 as com¬
pared with $37,070,000 in the corresponding period of 1935,
and .the tourist trade the largest in recent years." The review,
issued Aug. 4, also said:
.■
In
8, 1936
Wholesale buying for the fall season, which commences in July, has been
(Adjusted for seasonal variations, for usual year to year growth, and where necessary
for price changes)
gratifying, and retail sales, though retarded in some sections by the drought
and
■
high temperatures, have continued in other sections to record large
Summer resorts, railway and steamship
June
Avril
May
June
gains over
1935
1936
1936
1936
bear uniform testimony to the fact that people have money and are willing
to
Primary Distribution—
last year.
bookings
spend it.
In
the picture presented by
general,
business is
an
encouraging one,
Imports
66
66
67/
72
70
52
69
53 v
76
miscellaneous—
other.
Exports
67
53
Car loadings,
59
64
Car loadings, merchandise and
72 r
72
81/?
76
83r
82
evidently has been with the optimists, for not only has buying of fall
chandise been in large volume, but the stock market has made a vigorous
and but for the drought and the threat
other
.
Distribution to Consumer—
Department store sales, United States
76
Department store sales, Second District.
70
71
76
74
Chain grocery sales-Other chain store sales
61
61
59
60
industries
there
would
be
little
forecasts for the balance of the year.
advance into
new
of labor trouble in steel and certain
disposition to
question
optimistic
As it is, the weight of opinion to date
high ground, apparently in anticipation of further improve¬
85
85
88
92
Mail order house sales
80
83
90
90
Advertising
58
66
68
65
counting upon the momentum of urban recovery to offset whatever
New passenger car registrations
61
80
79 v
85/?
purchasing power
Gasoline consumption
General Business Activity—
77
88
87
ment in business
65
66
65
61V
41
42
43
66
71
70
73
45
City
Velocity of demand deposits, outside N. Y. City
Velocity of demand deposits, New York City
In taking the confident view, business
profits.
may
43
40
44
excellent impression, while prospects
55
49
53
55
81
86
87
88 Z?
of course, for the effect of
33
35
33
July 27
Building contracts—
31
45
42
43
53
55
144
150
150
152/?
Composite index of wages*
188
188
190
190
Cost of living*
140
141
142
142
National
First
Bank
of
seasonal
"Strong Statistical Position"
the
peak level of the depression period, although some sea¬
slackening has taken place in a few lines," it is stated
dications
that the
are
vigorous
a
temporary letdown may be followed
upturn
Business
is
in
strong
a
part are moderate.
States
of
in May, 1934, to
duction
and
have
a
domestic
of
consumption
105%
are
stabilizing influence
in
upon
position.
in. May,
Inventories
"New
its
from
and
the most
of the
1923-25
indicates that pro¬
This
1936.
good balance,
136%
for
by the United
stocks compiled
declined
in
consequence
should
increased
highest
level
for
four
since
October,
scarcity of
skilled
obtain
necessary
paid
to
the
workers
Activity
of
consecutive
labor,
months
with
Several
1930.
the
help
because
of
June
sections
while farmers in many
seasonal
areas
the
figure
have
the
at
reported
a
report inability to
more
the
durable
industries
representative
substantial
70%
lines.
goods
gains
of normal
The
significant
industries
since last
as
Between June 15 and
so
a
factor
high rate of operations in the automobile industry.
In
great an outpouring of cash it is hardly surprising that normal
lines
have
obliterated.
been
Precisely to what extent
business
are many
be considered.
Employment and Wages Reported Higher During June
by
National
Industrial
Conference
Board
gains
employment, hours worked, and money earnings during
June, 1936, as the result of a regular inquiry in 25 manu¬
facturing industries.
Real
earnings, however,
declined
because- of higher living costs, according to the Conference
Board, which under date of Aug. 6, further reported:
in
Hourly earnings in these 25 industries averaged 61.7 cents in June
compared with 61.5 cents in May, an increase of 0.3%.
was more
earnings declined 0.6%.
employed rose 0.7% from May to June, total man-
1.2%, and payrolls, 1.5%.
total man-hours worked, in 10
attractive wages '
and small
Since
a
The average work¬
39.2 hours in June and 39.0 hours in May, an increase of 0.5%.
was
The number of workers
hours worked,
risen
This
than offset by the rise in the cost of living,
with the result that real weekly
week
as
Weekly earnings
averaged $24.29 in June against $24.08 in May, a gain of 0.9%.
parts to
year ago
Although there
was a net
gain In
industries fewer hours were worked in June
from 0.3% in the manufacture of hardware
5.4% in the manufacture of agricultural implements.
substantial gains have been made.
Hourly earnings have
2.8%; the average number of hours per week, 8.9%, money weekly
earnings, 12.9%, and real weekly earnings, 9.7%; employment, 7.4%; tota
man-hours, 16.8%; and payrolls, 21.3%.
government projects.
on
for
the
first
six
months
the
was
highest for the comparable period since 1930 and exceeded the low point
of
1932
by 48%.
The advance has been general and has embraced
practically all
soldiers' bonus payments.
than in May, the declines ranging
commodity prices.
Employment, according to the United States Bureau of Labor Statistics,
has
early outbreak of
$1,000,000,000 of bonus bonds were converted Into cash, and
advance, however,
Commerce has
average
In
Aug. 3, the Bank also has the
on
statistical
The index
Department
months."
fall
in the
England Letter," released
following to say, in part:
of
The National Industrial Conference Board reports
by the First National Bank of Boston, which adds that "in¬
.by
an
being artificially stimulated cannot be determined, for there
factors to
"Midsummer finds business generally well surtained near
sonal
the face of
is
Regards Business in
Boston
over
in maintaining a
* 1913 average equals 100.
Revised.
r
of avoiding
undoubtedly this "rain of checks" has boosted retail sales and been
57
59
General price level*.
Preliminary.
loss
time corporate
In appraising the current record of business due allowance must be made,
44
/?
same
earnings statements now being published for the second quarter have made
an
Factory employment, United States
New corporations formed in New York State
At the
industrial strife in the steel industry are now regarded more hopefully.
Business failures
New life insurance sales
men are
eventuate in agricultural regions after Government
aid and adjustment of prices to reduced yields.
44
Bank debits, outside New York
Bank debits, New York City
mer¬
which
summer
against 50%
a
feature
as
and
year
a
has
group
are
ago.
now
been
have
the
6hown
operating
recovery
steady
at more
in
and
than
Weekly
Report
of
Lumber
Movement,
Week
Ended
July 25
The lumber
industry during the week ended July 25, 1936
72% of the 1929 weekly average of production and
65% of 1929 shipments. For the fifteenth consecutive week
new orders were below production.
Production is indicated
stood at
Volume
Financial
143
Chronicle
in this
preliminary report, as at the highest point of the
date.
Reported production during the week ended
July 25 of 4% fewer mills was 2% above revised production
figures of the preceding week; shipments were 2% below
and new orders, 4% below that
week, according to reports
year to
to
the
National
Lumber
Manufacturers
During the week ended July 25, 571 mills produced 257,038,000 feet of
and
softwoods
combined;
orders of 220,666,000 feet.
mills,
595;
orders,
production,
228,752,000
All reporting
shipped
224,650,000
feet;
shipments,
booked
feet;
Revised figures for the preceding
253,184,000
833
following is the report made available
TABLE
1—RAW SUGAR:
AND
DELIVERIES
JUNE, 1936 x
REFINERS'
FOR
July 30:
on
STOCKS, RECEIPTS, MELTINGS,
DIRECT
CONSUMPTION
FOR
JANUARY-
<
(In short tons, raw sugar value)
Association from
regional associations covering the operations of important
hardwood and softwood mills. Reported new business during
the week ended July 25 was
14% below production; ship¬
ments were 13% below output.
Reported new business of
the previous week, ended July 18, was
10% below production;
shipments were 9% below output.
Production in the week
ended July 25 was shown by
reporting softwood mills 28%
above corresponding week of 1935,
shipments were 26%
and orders 9% above
shipments and orders of last year's
week.
The report further showed:
hardwoods
The
week were
229,338,000
feet;
feet.
regions except Northern Hardwoods showed orders below
production during the week ended July 25.
All reported shipments below
production.
All softwood regions except California Redwood Northern
Pine and Northern Hemlock reported orders above those of
corresponding
week of 1935; Southern
Pine, West Coast and Western Pine
Deliveries
Source of Supply
Stocks
Cuba
91,039
28,900
45,873
3,194
67,308
Hawaii
Puerto Rico
Philippines
Continental
z
Virgin Islands
Other countries..
1936
o
9
0
Stocks
on
984,568
529,592
518,810
507,785
474,267
516,860
73,583
1,130
16,384
435,696
137,360
1,130
460
0
0
0
0
23,792
0
0
12,175
19,583
Miscellaneous
(sweepings, &c.)
June 30,
&c.
1,123,462
0
...
Fire,
4,180
1,799
Meltings
Lost by
for Direct
Consumption
Receipts
on
Jan.1, '36
225,753
48,908
90,407
83,670
3,071
0
686
2
36
1,333
1,369
0
0
0
255,933
Total
2,781,154
2,565,967
7,134
2
463,984
Compiled in the AAA Sugar Section, from reports submitted on Form SS-15A
by 17 companies representing 22 refineries. The companies are:
American Sugar Refining Co.; Arbuckle
Brothers; J. Aron <fc Co., Inc.; California
& Hawaiian Sugar
Refining Corp., Ltd.; Colonial Sugar Co.; Godchaux Sugars,
Inc.; William Henderson; Imperial Sugar Co.; W. J. McCahan
Sugar Refining &
Molasses Co.; National Sugar
Refining Co. of N. J.; Ohio Sugar Co.; Pennsylvania
Sugar Co.; Revere Sugar Refinery; Savannah Sugar Refining
Corp.; Sterling Sugars,
Inc.; Sucrest Corp., and Western Sugar Refinery.
x
z
Includes sugars received at refineries in Louisiana from their own
sugar mills
chargeable to Continental quota until marketed as refined sugar.
and not
TABLE~2—STOCKS,
reported ship¬
and all but Northern Hemlock reported production
above last year's week.
DISTRIBUTION"3F~CANEAND
PRODUCTION, AND
BEET SUGAR BY UNITED
ments above last year
STATES REFINERS AND
PROCESSORS,
JANUARY-JUNE, 1936
(Id terms of short tons refined sugar as produced)
Lumber orders reported for the week ended
July 25, 1936 by 488 softwood
mills totaled
208,090,000 feet;
or
15% below the
production of the same
Domestic
[
mills.
Shipments as reported for the same week were 213,636,000 feet, or
13% below production. Production was 245,122,000 feet.
or
Reports from 104 hardwood mills give new business as 12,576,000 feet,
6% above production.
Shipments as reported for the same week were
11,014,000 feet,
8% below production.
or
Identical Mill
Production
Reports
year ago it was
a
209,553,000 fGet, and
and
187,399,000 feet;
received
was
239,757,000
were
shipments
166,227,000, and orders
Refiners
Initial stocks of
refined, Jan. 1, 1936..
Production
Deliveries
Final stocks of
Beet
refined, June 30,1936
466,267
Factories
x859,783
23,539
Z623.864
259,458
X250.180
2,410,012
y2,193,925
and Beet
Factories
1,109.963
2,433,551
2,817,789
725,725
Compiled by the AAA Sugar Section, from reports submitted
by refiners,
Last week's production of 462 identical softwood mills
feet, and
11,916,000 feet.
was
Refiners
respectively
204,184,000 feet,
186,655,000 feet.
Revised.
x
y Deliveries Include sugar delivered against sales for
export.
Department of
Commerce reports of exports of refined
sugar amounted to 25,076 tons
during
January-June, 1936.
z Larger than actual
deliveries by a small amount representing losses in
transit,
through reprocessing, &c.
Summary of
Crop Situation in Prairie Provinces of
Canada—Canadian Bureau of Statistics Reports
Wheat Being Harvested About Month Earlier Than
Usual
TABLE
3—STOCKS,
SUMPTION
RECEIPTS,
SUGAR
FROM
1936
.
.
OF
AREAS,
JANUARY-JUNE.
.
Stocks
Source of Supply
Jan. 1,
on
Deliveries
1936
As
result of long-continued and still unbroken
a
harvested three
have
suffered
percentage of the
Deliveriesfof
drought, wheat is being
four weeks earlier than usual.
or
from
this
forcing.
grain
cut
Most
Both yield and quality
southern
districts
have
high
threshing and combining have begun.
and
new wheat at scattered southern points have set
a
a
or
275,930
10,392
90,532
39,493
Except in the extreme north, weekly temperatures were above
normal, the excesses ranging up to 10 degrees.
As in the previous week,
effective rains were fairly well confined to central and northern
Alberta.
more
came
optimistic reports from the
area
rushed toward maturity too
areas was
damage
in the form of spotty
is
and
serious
general
covered.
showers, it brought
Standing grain in
rapidly for adequate filling.
Saskatchewan
in
while
rust
causing
a
further
possibility of
sown
and
range
adds
another
serious
The
note
lands
most
will
England
248,222
X150.456
10,392
61,253
35,009
1,325
31,187
11,301
but
situation,
the
damage to late-
early
threshing
will
Canadian Crops by Bank of MontrealCutting Started in Prairie Provinces
In its weekly report on the
crops of Canada, issued Aug. 6,
the Bank of Montreal states that "the
cutting of grain is
now in progress in most of districts of the Prairie
Provinces.
Continued absence of moisture during the past week," the
bank said, "has advanced the
maturity of all grains and
further reduced crop prospects." The bank added:
Estimated wheat yields show wide variations in different
crop of coarse grains in general will
being threshed is
crop now
are
below average
be light.
areas
and the
In Ontario the fall wheat
yield of good quality.
Other grains
drought which has caused serious damage to
an average
through
late crops generally
Quebec has
condition.
a
though recent rains have been beneficial.
good hay crop and other main crops are all in
encouraging
In the Maritime Provinces hay yields are
heavy and the outlook
Grain and hay crops are good in British
Columbia
for all crops favorable.
and root crops are doing well.
Monthly
Statement
of
Sugar
Statistics
First Half of 1936—Deliveries
of
AAA
for
During Period Totaled
56
0
5,079
x843
134,221
420,986
361,336
193.871
TABLE 4
Deliveries of direct consumption sugar from Louisiana
sugar mills.
Deliveries of direct-consumption sugar by Louisiana mills
amounted to
tons in terms of refined sugar,
Entries
of
Under
during the period January-June, 1936.
ported from Off-Shore Areas
The
Sugar Section of the Agricultural Adjustment Ad¬
on Aug. 5 its seventh
monthly report of
1936
the status of the
on
sugar
cane refiners, beet
sugar processors, importers,
others, was issued on July 30. Total deliveries of sugar
during the first six months of 1936 amounted to 3,410,456
short tons raw sugar value. The
data, which cover the first
six months of the calendar
year, were obtained in the administration
of
the
Jones-Costigan Sugar Control and
Allotment Act, which requires the
Secretary of Agriculture
to determine consumption
requirements and establish
quotas
quotas under the Jones-
Suotas for Cuba, the Philippines, Puerto Rico, theofVirgin
slands and Hawaii during the first
months
1936
seven
amounted to 3,999,426 short tons,
raw
value.
The
Section, in issuing its report, said:
This report includes all sugars from Cuba, the
the Virgin
Islands and Hawaii recorded
from those
areas
prior to Aug. 1, 1936.
as
Sugar
Philippines, Puerto Rico,
entered
or
certified for
entry
The statistics pertaining to full-
duty countries include, in addition to the sugar actually entered before
Aug. 1, 1936, aU quantities certified for entry, including such certified
quantities in transit
after final
on Aug. 1, 1936.
The figures are subject to
change
outturn-weight and polarization data for all importations are
available.
136,242 short tons of sugar, raw value, were charged against the
quota
for the continental sugarcane area and 667,534 short
tons, raw value, against
the quota for the continental sugar beet area
during the first six months of
1936.
Data for July are not yet available.
Quotas for the various offshore
areas are shown as revised
by General
Sugar Quota Regulations, Series 3, Revision 2, issued July 2,
1936, and
Supplement 1 thereto issued July 27, 1936.
Included in the quantities charged against the 1936
quotas are 127,574
originally entered under bond in December, 1935,
pursuant
tons of sugar
to the
provisions of General Sugar Order No. 1, Revision 1.
seven
against the principal offshore
months of 1936 are
as
areas
during the
follows:
(Tons of 2,000 pounds—96 degree)
1936 Sugar Quotas
Area
Established Under the Amounts
and
areas.
During First Seven
1936
ministration issued
sugar
producing
58,560
Sugar into United States Against Quotas
Jones-Costigan Sugar Act—3,999,426 Im¬
Months of
obtained from
for various sugar
84
56
3,683
Compiled in the AAA Sugar Section, from reports and information
submitted on
Forms SS-15B and SS-3 by Importers and distributors of
direct-consumption sugar,
x Includes sugar In bond and in
customs custody and control.
statistical statement of the Sugar
Section of the Agricultural Adjustment
Administration,
covering the first six months of 1936, consolidating reports
*
0
0
Total..
first
monthly
June 30, '36
x2,239
llThe quantities charged
3,410,456 Short Tons
The
900
Usage
Costigan Sugar Control and Allotment Act.
The report
shows that the quantity of sugar
charged against the 1936
on
Grain
509
China and Hongkong
cause
and limiting
severe
1,908
6,817
...
Other foreign areas
Sawfly
pasturing on stubble land.
some
Report
decline in pastures
growth during this season.
grains
coarse
permit
new
serious feed
0
...
Philippines
shrunken kernels in east-central Saskatchewan and west-central
Manitoba.
High temperatures and lack of rain intensified the
X122.748
Puerto Rico
record for
earliness.
Although this limited rainfall
Cuba
Hawaii
Stocks on
Receipts
issued the 11th of
the reports are based:
DIRECT-CON¬
(In terms of short tons of refined sugar)
On
Aug. 5 the Dominion Bureau of Statistics, at Ottawa,
a series of 15
weekly telegraphic reports
covering the crop conditions in the three Prairie Provinces
of iCanada.
In presenting the following summary in its
report, the Bureau noted that 50 correspondents distributed
over the agricultural area
supply the information on which
DELIVERIES
SPECIFIED
•
.
AND
Latest Regulation
Cuba
Less amount reallotted on July 27
..
Puerto Rico
Hawaii
...
1,732,585
807,427
756,528
701,756
6,926
...
.
Total
2,085,022
1,098,738
97,909
1,000,829
901,839
1,059,294
Philippines. Total quota
Virgin Islands
Charged
Against Quotas
1,130
5,052,910
3,999,426
"
Financial
834
Direct-consumption
the above amounts charged
direct-consumption-sugar quota is
is included in
sugar
quotas since the
the various
against
each area. The following tabulation indicates
the direct-consumption-sugar quotas, amounts of direct-consumption sugar
admitted during the period January-July, 1936, as well as the amounts
which may be admitted for the remainder of the year:
included in the total quota for
degree equivalent)
(In short tons—96
10,978 tons against 9,419 tons in 1935,
ports. Shipments to the end of July
coupled with the amount estimated as afloat and in stock here as the year
started are equivalent to just above 80% of the 1936 quota of Hawaiian
sugar for
consumption in the United States, the Exchange statistician
calculates.
Hawaii's original 1936 quota was 941,199 tons, which figure
was increased to 1,007,158 tons on April 10, to
1,036,090 tons on June 19,
the
458,705
126,033
29,616
80,214
Hawaii
Philippines
340,698
13,345
51,889
118,007
15,524
16,271
28,325
694,568
Cuba
Puerto Rico
516,441
178,127
110.509
Full-Duty Sugars
charged against the quotas for Cuba and the other
insular areas, a large part of the sugar which may be admitted from full-duty
countries was entered or certified for entry during the first seven months of
In addition to the sugar
shows, in pounds, the amount of sugar which
the amount charged against quotas during the
period January-July and the amount which may be admitted during the
The following table
the year.
may
be admitted in 1936,
remainder of the year from
the areas specified.
(Pounds—96 degree
equivalent)
Charged Against
Balance
Quota
Admitted
Remaining
in 1936
China and Hong Kong
Costa Rica
Czechoslovakia
Dominican Republic
Dutch East Indies.:
Guatemala..
Haiti
Mexico
....
Netherlands
294,308
564,205
208,473
20,597
263,302
6,668,480
211,384
334,902
920,200
300,498
217,865
2,701,750
11,114,100
294,308
564,205
288,114
20,597
263,302
6,668,480
211,384
334,902
921,614
6,031,877
217,865
10,221,004
11,114,100
350,667
8,264,140
i.—
Canada
...
Nicaragua..
Peru.
United Kingdom
Unallotted reserve.
No sugars
79,641
within the month, the Bureau noted grain
16, dairy products up 10, cotton and cottonseed
up 9, and chickens and eggs up 3.
Meat animals represented the only
group to decline during the month and the strengthened hog prices held this
Reporting the changes made
1,414
5,731,379
7,519",254
350,667
157~726
32,277,145
13,489,414
countries:
14,577 pounds; Australia, 204; Brazil, 1,197; British
Malaya, 26; Colombia, 267; Dutch West Indies, 6; France, 175; Germany,
117; Honduras, 3,432,568; Italy, 1.751; Japan, 4,009; Salvador, 8,208,542;
Argentina, 1936 quota,
and Venezuela,
290,002.
of
During July as
Exchange Reports Drop
7% in Wprld Coffee.Disappearance
Compared with Year Ago
first
bags
against 2,062,204 bags during July, 1935, a decrease of
140,031 bags, or about 7%, the New York Coffee and Sugar
of
Exchange
the
crop
new
coffee during July, the
amounted to 1,922,173
of
disappearance
World
month
year,
announced Aug. 4.
It stated:
against
about 2%, while
948,000 bags in
1935, a decrease of 140,000 bags, or about 15%.
Disappearance in other
than United States or European points showed the only gain, at 112,000
bags, against 87,000 bags last July, an increase of 25,000 bags, or
Deliveries
coffee
of
in
the United
States were 1,002,173 bags
1,027,204 bags in 1935, a decrease of 25,031 bags, or
deliveries in European points were 808,000 bags against
about
30%.
1, exclusive of restricted
stocks in Brazil, was 8,029,323 bags against 8,ll0,528 bags on July 1
and 7,670,240 bags on Aug. 1, 1935.
United States supplies were little
changed at 1,342,771 bags, 1,384,528 bags and 1,355,240 bags, respectively.
European supplies were higher at 3,596,000 bags, 3,519,000 bags and
3,134,000 bags, while stocks in Brazilian
ports were -3,091,000
3,207,000 bags, and 3,181,000 bags on the respective dates.
The
visible
World's
year ago
supply of coffee on
Aug.
Brazil and Colombia
Level of July, 1935
Shipments of coffee from Brazil and Colombia, the world's
largest coffee producers, were not much changed during July,
the first month of the new crop year against July, 1935,
the New York Coffee and Sugar Exchange announced
Aug. 6. Brazilian shipments were 1,097,000 against 1,098,000
during July a year ago, while Colombia exported 329,158
bags against 347,424 bags last year, a decrease of 18,266
bags or about 6%, the Exchange said, adding:
Shipments
Coffee
Reported
The United States
at
by
About
took 568,000 bags of the
Brazilian shipment against
27,000 bags or about 5%, while exports
467,000 bags against 391,000, an increase of
595,000 last year, a decrease of
from
Brazil to Europe were
Brazilian shipments to other than United States
and European points fell off sharply being 62,000 against 112,000 a year
previous, a loss of 50,000 bags of 44%.
Colombian exports to the United
States this July were 244,500 bags against 237,993, a gain of 6,570 bags or
about 3%, while shipments to Europe were but 76,478 against 101,580, a
loss of 25,102 bags or about 25%.
To all other points Colombia sent 8,180
bags against 7,851, an increase of 329 bags or 4%.
76,000 bags or about 19%.
not, however, a total net gain to
articles he buys had advanced also,
the Bureau said.
This was particularly true in the case of feed.
During
the month, feed rose from a price index of 94 to 114 in mid-July.
Primarily
as a result of this sharp upturn in feed prices, the index of prices paid by
farmers for commodities bought was boosted from 120 on June 15 to 123
The present
sharp advance in prices is
The prices of many of the
the farmer.
the middle of this
month.
Nevertheless, the ratio of prices
to
United States from January to
Hawaiian
the
first
Shipments
July
seven
against 648,514 short tons during the equivalent 1935
an
increase of 26,301 tons, or about 4%, the New
Half of Year Re¬
Six Months of 1935
Cash income of farmers for the first six months of 1936
aggregated $3,291,000,000, an increase of $335,000,000 over
the same period in 1935, when cash income totaled $2,956,000,000, according to estimates announced July 22 by the
Bureau of Agricultural Economics, United States Depart¬
ment of Agriculture.
The total for the first six months this
year included $171,000,000 in Agricultural Adjustment Ad¬
ministration payments
compared with $286,000,000 in
similar payments in the same period last year, the Bureau
said.
The total cash income of farmers in June, including
rental and benefit payments, was $639,000,000 compared
with $585,000,000 in May, 1936, and $468,000,000 in June,
Income During First
Cash
The Bureau further
1935.
Cach income of farmers during
over
figures.
points
were
York
announced that it learned from
Shipments of raw sugar to East Coast
205,431
the same month last year
I
and compares with
of $144,000,$526,000,000 re¬
ceived in May, 1936.
paid out In June on contracts entered into
adjustment payments amounted to $57,000,-
Rental and benefit payments
in 1935 and June cotton price
compared with the total of
000,
Government payments in May
1935, of $30,000,000.
in cash farm income from May to
of $59,-
000,000, and in June,
The increase
than
seasonal increase in the
June was due to
marketings of wheat and corn,
the
the
and unusually heavy marketings of cattle,
and to the seasonal increase in income from hogs, butter and wool.
A
noticeable advance in hog prices during June, despite the larger supplies of
all kinds of livestock, reflected an improvement in consumer demand for
meats.
There was no noticeable forced movement of livestock in June from
sharp advance in potato prices,
the drought area,
at the
although in the first two
weeks of July receipts of cattle
running 38% and of hogs
principal markets were
57% higher than
in the same weeks a year ago.
marketings in the United
period of 1935 and was the largest
ago was mainly
the result of larger marketings of grains, fruits and vegetables, and the
larger marketings and higher prices of meat animals.
Prices of all farm products thus far in the year have averaged slightly
For the first half of 1936
States
was
cash income from farm
17% higher than in the same
1930.1 This gain in income over a year
for the period since
below those of last year.
last
the first half of 1936
year.
With the effect
prospective crop yields.
potatoes,
fruits and vegetables,
than a year ago are likely
in the drought area. These
probable maintenance of the improved
food products, the bureau says, indicate that farm
supplies that are now larger
be further augmented
considerations,
total farm income as yet
of 1936 will depend to a
Prices of many
likely to average higher than in
to
uncertain,
considerable extent
commodities, such as grains,
eggs and dairy products, however, are
the latter half of 1935. Marketings of
of the drought on
farm income for the second half
on
including Government
than in the same period
Total farm cash income,
payments, was 11% higher in
by some liquidation
together with
demand for
a
products sold during the next
income from
six months will be
higher than
in the second half of last year.
against 235,499 tons last year,
458,406 tons were cleared against
In an announcement issued Aug. 5
Rayon Yarn Shipments Reached New
July—Producers Surplus Stocks
Record During
in Six
Lowest
Years
tons
A
while to West Coast points
403,596 tons last season.
the Exchange also stated:
of farm products was
This figure represents an increase
estimated at $582,000,000.
000
announced:
June from the sale
year,
Coffee and Sugar Exchange
cabled
this
ported $335,000,000 Above First
consumer
of sugar to the United States for
months of 1936 were 674,815 short tons
shipments
received to prices paid rose during
month from 89 to 93.
meat animals from
4% Reported in Hawaiian Sugar
Increase of
stood at only 2 points above
1 point.
more
July
point for the index.
the index of farm products
Within a year's time the advance in truck crops has been 22
points, fruit 19, dairy products 19, grain 13, cotton 3, meat animals 3.
The only group to show a lower price position than last year was eggs, down
Farmers
York Coffee & Sugar
New
decline to only 1
pre-war.
the quotas of the following
have been entered against
22 points, truck crops up
A
8,106,414
45,766,559
Total.
year
Rise in Farm Prices Reported by Bureau of
Agricultural Economics from June 15 to July 15
Prices of farm products have just scored the sharpest rise
in any one month since August, 1934, the Bureau of Agricul¬
tural Economics, United States Department of Agriculture,
said July 29 in a report on the level of prices received by
farmers on July 15.
The rise is attributed mainly to drought
damage.
In an announcement made available by the De¬
partment of Agriculture it was further stated:
Farm commodities, advancing along a wide front, boosted the price
index 8 points.
This puts the level of agricultural prices up 15% above
the pre-war average, which is the highest point reached since September,
up
Belgium
of the Philippine quota
by
because it exceeded' the limitations set
Act, would bear the full duty of 1.87%c.
shipped this
Independence
27,
her
1930.
Quantity Which
May Be
Area
the reallocation of 97,909 tons
rata share in
if
an
Sharp
...
Total
Hawaii received
which,
short tons raw value on July
additional quota of 23,240 tons. This was
present figure, 1,059,294
and then to the
pro
Balance
Remaining
going to West Coast
the sugar
all
when
Quantity Charged
Against Quota
1936 Quota
Area
1936
Shipments as refined sugar were
Consumption Sugars
Direct
Aug. 8,
Chronicle
new
high
non-acetate rayon yarn
further reduction of surplus stocks
producers to the lowest level in six years,
record shipments of
during July resulted in a
in
the
hands of
Volume
Financial
143
since records
or
first
compiled, according to the current
Organon" published by the Textile
Economics Bureau, Inc.
An announcement by the Bureau
on Aug. 6 also
said;
issue
of
the
According to
deliveries
the daily
in
mills
July
of
1935
a
583
monthly
rate of
non-acetate
rayon
yarn
record-breaking proportions as
This figure compares with an index of 498
at
was
index of 446, and the previous record
average
in
September 1935.
The July adjusted index also rose to a
high level, not only because of the actual poundage involved, but also
new
because
the
Because
ing July,
normal
the
of
stocks in
stated,
stocks
seasonal
continued
decline, being equal
is
"Organon"
by the index of 614.
June and
index
the
domestic
to
measured
in
were
"Rayon
the hands
of
producers
that date to
on
July 31 showed
0.7 month's supply.
a
further
This total, it
actual stocks on hand, and does not represent unsold
Consequently, the available supply of unsold popular yarns is
uncomfortably close to
themselves
zero
at "the
present time and
producers find
many
oversold.
situation
exists, the
"Organon"
production for the first six months
200,000
an
on
represents
only.
This
movement from June to July is downward.
high shipments of non-acetate rayon yarn dur¬
pounds
pounds in the
6%
or
greater
first half of
that,
gained
1936
than
1935.
was
the
This
total
out,
at
despite
the
fact
that
record, totaling 105,production of 99,100,000
a
be accounted for by the fact
may
while production
mills
of
points
fall
increased 6% during the half-year, shipments to
20% thus preventing the normal summer stock build-up for
business.
As
result,
a
apparently has become
Petroleum
the
a very
recent
forecast
of
a
rayon
yarn
shortage
disturbing reality.
Its
Products—Federal Grand Jury
Companies for Alleged Violation of
Sherman Anti-Trust Laws—Indictment Also Names
58 Individuals—Case Outcome of
Department of
and
Indicts
Justice
23
Investigation
The Federal Grand Jury
investigating alleged illegal mar¬
keting tactics by major oil companies has indicted 23 oil
units
charges of conspiring to raise and fix the price of
on
gasoline moving in interstate
commerce
in violation of the
Sherman Anti-Trust Act, it was announced in
on
Aug. 4.
The indictments
disclosed, but details
was
be served.
fall, it
In
was
The
58
returned
Washington
July 28, it
on
withheld until warrants could
were
probably will
to trial
come
early this
said.
addition
against
case
were
to
naming
individuals
the
and
23
three
companies,
trade
indictments
publications
were
returned
by the Grand Jury.
The three publications named
Chicago "Journal of Commerce/' "National Petrol¬
eum
News" and
Platts's
"Oilgram."
Practically every
major oil company in the Nation was named in the indict¬
were
the
ments, the individual indictments largely being officials of
the various
"For
companies.
more
than
a
year
past," the Government charged,
date of the presentation of this
"and continuing to the
indictment, said defendent major oil companies have uniform¬
ly adopted and have embodied in their respective standard
forms of
jobber contracts employed through the Midwestern
virtually identical provisions governing terms and
area
conditions of sales, in part,
substantially as follows:
"The price of gasoline to the jobber shall be the
average
spot market price, determined by averaging the
high and
market prices for gasoline of comparable octane
rating published by defendant Platts's 'Oilgram' for the
Tulsa, Okla., market and by defendant Chicago 'Journal of
Commerce' on the date of shipment.
If the average spot
market price, plus freight to
destination, shall allow the
low
spot
buyer
margin of less than 5 K cents per gallon below the
service station price posted
by defendant Standard of
Indiana, then the buyer and the seller shall share
equally in
the deficit below a 5H-cent
margin."
In
commenting upon the publications indicted, the
Government argued that the "defendants
have
intentionally and wrongfully engaged and participated in
the combination and conspiracy set forth in this
indictment,
and have directly and
materially aided the other defendants
in effectuating same, and the unlawful
purposes and effects
a
.
.
.
thereof set forth in this indictment."
Answering the charges contained in the indictment against
Oilgram" and the "National Petroleum News,"
Warren C. Piatt, of Cleveland,
publisher of both papers,
stated that they had printed the
prices as news and contended
"Piatt's
that the free don of the press was involved.
"The indictment admits that these
publications
truth as to actual prices and actual
printed the
sales, but denies to
publications this exercise of the right of freedom of
speech and freedom of the press, if other parties have vio¬
lated the anti-trust law with these
prices or sales," Mr.
these
Chronicle
"During the period of the so-called official or Ickes'
buying program these papers printed oil prices as they found
them, and added the further information that buying!of
varying quantities, generally named, was going on by the
so-called Government official pool.
"After the official buying pool, as approved by the Govern¬
ment, discontinued operations, the publications of Mr. Piatt
continued to report the prices as they found them, with the
added information that whenever large companies were
buying important quantities that also was given to the
readers of these publications.
"
'National Petroleum News' took
the effort of the oil
industry to write
Government's charge turns on whether a
practice
legally started and carried on under the recent National
Industrial Recovery Act oil code was continued in
an
illegal
manner after the codes
were killed
by the U. S.
Supreme
During the period of the oil code the oil industry
vainly to cope with the flood of 'hot' or illegally-pro¬
Court.
tried
an
active interest in
its code and then to
enforce it.
In that effort 'National Petroleum News' felt
called upon many times to severely criticize
Secretary Ickes,
as the Oil
Administrator, for his failure to enforce the code
especially on behalf of the independent oil jobbers, on whose
complaint the present Government action was started;
and also for his failure to use the code to
protect the inde¬
pendent oil producers, who was loudly calling for protection
against the 'hot' and illegal oil of East Texas."
Mos.t of the companies and individuals named in the in¬
dictments refused to make any statements.
L. L. Stephens,
general counsel for Standard Oil Co. of Indiana, however,
released the following statement:
"I am sorry that we have had no
opportunity to read the
charges.
From newspaper reports we are naturally some¬
what confused as to the difference in the
desirability and
legality between purchasing surplus products of agricultural
lands whether they be petroleum or hogs, corn and cattle or
the miners' surplus silver.
If we succeed in figuring it out,
we may have
something to say."
Attorney General Cummings disclosed in Washington that
the Special Grand Jury investigating the alleged mid-Western
gasoline price-fixing conspiracy would reconvene at Madison,
Wis., on Aug. 19 to consider additional evidence.
In reply
to queries as to whether the Government, should it secure
convictions, would apply for injunctions to prevent the con¬
tinuance of the alleged practices, Mr. Cummings answered
that he had nothing to say in that regard.
He did state that
the scope of the investigation would be widened to take in
the West Coast and possibly the East Coast.
In revealing
that the investigation might be broadened to take in other
sections of the country, Mr. Cummings stated that the
Federal Trade Commission currently was supervising an
"exhaustive" probe on the Pacific Coast to determine
whether oil companies there were violating the anti-trust
laws.
Secretary
Ickes,
who
formerly
Oil Administrator
currently is in charge
Hot Oil Act, was not
consulted by the Department of Justice in the Wisconsin
oil probe which resulted in the indictments against numerous
major oil companies for alleged price-fixing activities, he
stated at his regular Thursday press conference in Washington
on Aug.
5.
The head of the Department of the Interior also admitted
was
under the defunct NIRA oil code, and
of the administration of the Connally
that the Federal Trade Commission had not consulted with
him in
regard to the marketing regulations which the Com¬
mission is formulating at the request of the nation's petroleum
producer and marketing organizations.
When asked pointblank as to whether this did not indicate a lack of teamwork
within the
Government, Secretary Ickes pointedly answered
"I did not hear you."
The August allowable
field has
similar
been
action
for the Louisiana side of the Rodessa
pared 25 barrels to 250 barrels daily, and
the Texas side of the field. is expected
shortly.
On his first visit to the area, Governor Leche, of
Louisiana, Monday inspected the field and after conferring
with operators said that the State would act to prevent
gas wastage which might ultimately curtail the yield of
the field.
William G. Rankin, member of the Louisiana
Tax Commission, will replace R. S. Maestri as State Con¬
servation
Commissioner,
the
Governor
disclosed.
Mr.
Maestri will become Mayor of New Orleans this month.
Sharp reductions in daily average crude production in
Oklahoma and California during the week ended Aug. 1
were sufficient to offset gains in other States and
bring a net
reduction for the Nation of 12,950 barrels, statistics released
by the American Petroleum Institute disclosed.
Production
last week was 2,960,950 barrels, against estimated July
market demand of 2,917,200 barrels set by the Bureau of
Mines, and actual output in the like 1935 period of 2,634,350
on
barrels.
Stocks of all oils declined 4,127,000 barrels
Piatt said.
"The
835
as
during June
production dropped 18,000 barrels and daily
average runs
of crude to stills
43,000 barrels above the May total,
reported on Aug. 7.
Total crude
production for the first half of 1936 of 535,911,000 barrels
was 12.5% above the like 1935
period.
the
Bureau
There
of
were
no
rose
Mines
crude
price changes posted.
duced oil from the then-wild East Texas oil field.
"Many plans were tried in cooperation with the State and
Federal governments, but without success.
Finally, with the
written permission of Secretary Ickes, then Oil
Administrator,
a
group
at
the
of larger oil companies bought
smaller
refineries
for
the
up
avowed
surplus gasoline
and approved
of stabilizing at a reasonable profitable level the
tank-car price of gasoline.
The reason for this was to save
the price of crude oil at $1
per barrel.
purpose
Prices of Typical
Crudes
"
per
Barrel at Wells
.
(AU gravities where A. P. I. degrees
Bradford, Pa
Lima (Ohio OU Co.)
shown)
$2.45
Eldorado, Ark., 40
1.25 Rusk, Texas, 40 and
Corning, Pa
1.42
Darst Creek..
1.23
Illinois
Western Kentucky
i'
are not
Central Field. Mich
1.23
...$1.10
over.........
1.15
.97
1.42
Sunburnt, Mont
1.15
Mld-Cont't., Okla., 40 and above.. 1.18 Huntington, Calif., 30 and over...
.95
Winkler, Texas
.85 Kettlemen Hills, 39 and over...... 1.43
Smackover. Ark.. 24 and over... .75-.80 Petrolla. Canada
1.10
-
Financial
836
STOCKS DIP—REFINERY
LOWER—METROPOLITAN NEW
EASY—OTHER MARKETS.QUIET
PRODUCTS—MOTOR FUEL
REFINED
OPERATIONS
SHARPLY
YORK PRICE
STRUCTURE
weeks ended
Aug.
barrels; bulk
which dropped 800,000
holdings,
of 65,000 barrels.
refinery operating rates,
which dipped to 78.2% of capacity after rising imthe previous
week to within fractions of the record high of nearly 81%
of capacity registered last April.
Daily average runs of
crude oil to stills were off 80,000 barrels.
Stocks of gas
and fuel oils rose despite the lower refinery rate, gaining
terminal holdings scoring a decline
A decline of 2.3% was shown in
with
Reports
(Above 65
daily during
the week.
DAILY
Colonial
Beacon-.$.07%
.07%
Texas
New
Republlo
Tulsa
ports
Tank Car, F.O.B.
Refinery
i
(Bayonne)—
F.O.B. Refinery or
..$1.05
1.65
Diesel 28-30 D
Terminal
I New Orleans C
D
$1.15-1.25
California 27 plus
(Bayonne)
Bunker C
Gas Oil,
F.O.B. Refinery or
Gasoline, Service
Station. Tax
Cincinnati
Newark
Camden
Boston
Buffalo
Chicago..
sNot Including
Panhandle Texas
Cleveland....
Denver...
Detroit
Jacksonville
Houston
Los Angeles
$.184
.23
...
.175
.195
.16
.
Orleans
Philadelphia
refrigeration,
1935, an
&c., were
24,800
113,000
231,900
232,900
230,900
137,800
Coastal Louisiana.
186,800
Total Louisiana.
while sales for
Industrial and commercial uses,
showed a decrease of
20.5%.
Crude Oil Output Continues
American
Petroleum
29,650
29,700
113,200
35,500
39,150
15,700
4,650
74,150
110,000
38,300
15,500
4,450
74,150
2,366,400
2,393,300
2,385,950
2,383,750
550,800
554,700
575,000
575,000
555,800
2,960,950
2,958,750
2,634,350
Michigan
Wyoming
Montana
Colorado—..
New Mexico.
California....
2,917,200
Total United States
2,948,000
28,500
indicated above do not Include any
Note—The figures
45.700
1
'
40,250
11,450
4,050
53,950
2,078,550
estimate of any oil which
surreptitiously produced.
CRUDE RUNS TO STILLS AND STOCKS OF FINISHED AND UNFINISHED
GASOLINE AND GAS AND FUEL OIL, WEEK ENDED AUGUST 1, 1936
Thousands of Barrels of 42 Gallons
(Figures In
Crude Runs
Daily Refining
to Stills
Capacity
Aver¬
P.
C.
Oper¬
At Re¬
age
ated
fineries
497
612 100.0
81.2
Appalachian
Ind.,ni., Ky.
154
146
94.8
106
72.6
462
444
96.1
410
92.3
Okla., Kans.,
Week
Decline
Institute estimates that
997
964
255
538
2,981
739
5,196
2,076
519
3,461
1,591
384
84.8
287
74.7
330
160
48.5
109
68.1
680
658
96.8
601
169
163
96.4
124
76.1
3,328
1,022
4,687
1,225
40
55.6
165
1,016
8,913
80
72
90.0
97
60
61.9
50
83.3
789
92.6
504
63.9
3,488
89.7
2,728
78.2
for domestic use and receipts In bond at principal
the week ended Aug. 1 totaled 1,108,000 barrels,
158,286 barrels, compared with a daily average of 150,429
Oil
10,974
453
91.3
Fuel
Distil.
<&c.
6,069
1,062
5,514
Mo......
11,235
122
165
241
1,915
504
231
84
72
99
792
2*275
1,154
72,924
7,783
2,460
431
6,146 106,411
270
2.445
182
33,001
3,918
20,221
401
3,889
3,889
'36
3,889
3,889
2,910
2,990
36,919
37,719
21,492
21,557
6,416 108,856
z30,550 Z19.922
z5,974 z108322
U.S. B. of M.
2,739
July 1935.
Bureau of Mines basis
currently estimated,
z As of
1,271
6,543 107,595
July 31, 1935.
Higher During Latest Week
of Mines' weekly coal report
disclosed that the production of bituminous coal for the
week ended July 25 is estimated at 7,300,000 net tons.
This compares with 7,058,000 tons produced in the preced¬
ing week and 6,311,000 tons in the corresponding week of
Output of Coal
The
United
States Bureau
1935.
Anthracite
Pennsylvania during the week
777,000 net tons. Compared
week, this shows a gain of 25,000 tons*.
production in
July 25 is estimated at
preceding
Production in
to
the
and
Terms., Nap'tha
Inland Texas
852
Gas
in
P.
612
x
Unfin'd
C.
Daily
Reporting
Total
Stocks
of
tial
Aug. 1
Each)
Finished and
Unfinished Gasoline
Stocks of
Finished
Rate
ended
oil-producing States during July.
Daily average
production for the four weeks ended Aug. 1, 1936, is esti¬
mated at 2,958,750 barrels.
The daily average output for
the week ended Aug. 3, 1935, totaled 2,634,350 barrels.
Further details, as reported by the Institute, follow:
Imports of petroleum
30,350
107,100
31,300
107,700
33,800
38,800
13,400
4,700
69,400
Eastern
3.9% for
various
United States ports for
56,550
180,450
29,650
110,650
31,850
38,000
16,260
4,500
74,150
Arkansas
$60,188,500
increase of 1.5%,
daily average gross crude oil production for the week ended
Aug. 1, 1936, was 2,948,000 barrels.
This was a decline
of 12,950 barrels from the output of the previous week.
The current week's figure was, however, above the 2,917,200
barrels calculated by the United States Department of the
Interior to be the total of the restrictions imposed by the
81,650
149,250
North Louisiana..
July 25 '36
1.6% below May, 1935,
decreased 7.4%.
19.5%.
in Latest
daily average of
1,003,400
84,150
1,146,500
Total Texas
with the
a
1,144,200
82,600
150,300
151,550
47,050
432,900
...
xEst.tot.U.S.
compared with
sales for domestic purposes
month, while industrial sales gained
The
1,146,900
147,750
Coastal Texas
amounted
utility revenues
heating purposes
Daily Average
1,152,300
Southwest Texas
Reported...
Estd.unrepd.
preceding year.
the
Natural gas
the
56,150
427,300
84,700
250,250
East Texas
During May
$29,251,000, or 3.2% more
however, increased
51,900
56,950
26,050
Texas Gulf-
.l7
The natural gas utilities reported
than for May, 1935.
Total sales of
manufactured gas for the month were 31,384,200,000
cubic feet, an increase of 3.4%.
Natural gas utility sales for the month
amounted to 92,639,300,000 cubic feet, an increase of 11.8%.
Manufactured
gas
sales for domestic uses, such as cooking, water
house
61,500
59,650
25,800
178,950
La. Gulf
Pittsburgh
8an Francisco
St. Louis
report of the American Gas Asso¬
ciation, which further stated;
The manufactured
gas industry reported
revenues of $31,838,700 for
the month, slightly more than the figure of $31,834,000 reported for the
heating,
64,000
59,600
26,550
No. La.-Ark.
corresponding month of
of
498,800
145,700
East Coast..
Minneapolis.
New
according to the monthly
of
548,750
154,850
Rocky Mtn.
$61,089,700 in May, 1936, as
month
548,200
157,350
176,850
56,400
427,750
85,750
251,000
vVest Texas
East Central Texas
1.05
2% city sales tax.
Manufactured and natural gas
same
1936
1936
26,300
180,250
57,650
429,100
84,300
252,900
West Central Texas
Poten¬
I
Gas Revenues
1.5% Above a Year Ago
revenues
1936
North Texas
$.02%-.02%
ITulsa
Manufactured and Natural
for the
Aug. 3,
1935
61,950
59,850
Kansas
California...
to
Ended
Aug. 1,
541,100
156,000
569,800
164,200
$ .90
Phlla., Bunker C
Included
$.175
.175
.215
.16
.20
.19
.15
$.182
.177
.168
168
.185
165
175
Week
Ended
July 25,
Aug. 1,
(July)
Oklahoma.
Terminal
Bayonne)
.Chicago,
27 plus
$.04r.04% I
32-38 GO—$.02H-.02^
zNew York—
4 Weeks
District
N. Y.
zBrooklyn
culations
.04%-.04%
Fuel Oil,
Average
Week Ended
might have been
North Texas.$.03H-.03J£ | New Orleans. $.03 J^-.04
1.04% ' Los Angeles.- .04%-.05
I Tulsa
New York
Actual Production
of M
of
Dept.
Int. Cal-.
Total east of California.
-.06H
-.06%
.05-.04^1
.06 -.06%
06
-M%
$.06
.06
07
East
41-43 Water White,
Gulf
07%
Oil
Orleans-
Los Ang„ ex.
07%
Gulf
Shel
Kerosene,
Chicago
New York—
J..$.07%
So cony-Vacuum
.07%
Tide Water Oil Co.. .07%
Richfield Oil (Calif.) .07^
Warner-Qulnlan Co. .07%
Standard Oil N.
F.O.B. Refinery
PRODUCTION
AVERAGE CRUDE OIL
(Figures in Barrels)
B.
Octane), Tank Gar Lots,
3,889,000
potential refining capacity of the United States
indicate that the industry as a whole ran to stills, on a Bureau of Mines
basis, 2,910,000 barrels of crude oil daily during the week, and that all
companies had in storage at refineries, bulk terminals, in transit and in
pipe lines as of the end of the week, 64,827,000 barrels of finished and
unfinished gasoline and 108,856,000 barrels of gas and fuel oil.
Cracked gasoline production by companies owning 95.9% of the potential
charging capacity of all cracking units indicates that the industry as a
whole, on a Bureau of Mines basis, produced an average of 695,000 barrels
estimated daily
barrel
customary
U. S. Gasoline
1.
owning 89.7% of the
the four weeks ended Aug.
received from refining companies
barrels daily for
mid-summer seasonal rise in motor fuel
consumption brought a reduction of 4,063,000 barrels in
stocks of gasoline during June, inventories at the close of
the month totaling 71,605,000 barrels.
Compared with the
like date last year, however, the total was up approximately
8,000,000 barrels.
Domestic demand for motor fuel during June was ab¬
normally high, exceeding the Bureau's estimate by nearly
1,950,000 barrels and gaining 17% over June a year ago.
Exports dropped to 2,291,000 barrels from 2,702,000 in the
previous month.
Marketing conditions in the refined gasoline field in the
metropolitan New York City area continued somewhat
chaotic.
Retail prices are still under pressure of cut-price
competition in various sections of the city , and "6 for 98-cent"
signs are still to be seen at service stations.
Other refined
products are holding largely unchanged.
Markets for refined petroleum products in other sections
of the country showed little change.
Sectional readjust¬
ments in retail gasoline prices were the only revisions and
they were of little importance marketwise.
There were no major price changes.
N. Y.
California oil at
'
1,261,000 barrels.
The
Atlantic and Gulf ports for the week ended
1 totaled 149,000 barrels, a daily average of 21,286 barrels, compared
a daily average of 33,286 barrels for the week ended July 25, and 33,071
Receipts of
992,000 barrels during the
final week of July, totaling 58,411,000 barrels on Aug. 1.
Inventories of finished gasoline were off 865,000 barrels,
while unfinished gasoline stocks dipped 127,000 barrels.
Most of the dip in the finished gasoline division was in
refinery
147,357 barrels daily for the four
July 25 and
the week ended
Aug. 1.
barrels for
fuel dipped
Stocks of motor
Aug. 8, 1936
Chronicle
the
corresponding week last year
amounted
838,000 net tons.
Production of bituminous
coal during the month of
June
estimated at 29,300,000 net tons, as against
28,541,000 tons during May and 30,117,000 tons during
June, 1935.
Hard coal output for June was estimated at
3,948,000 net tons. This compares with 4,577,000 net tons
produced during May and 5,642,000 tons during June a
1936,
was
'
year ago.
!
During the calendar year to July 25, 1936, a total of
225,273,000 tons of bituminous coal and 29,914,000 net tons
of Pennsylvania anthracite were produced.
This compares
with 206,543,000 tons of soft coal and 31,407,000 tons of
hard coal
produced in the same period of
statement follows:
1935. The Bureau's
Volume
Financial
143
Chronicle
ESTIMATED UNITED STATES PRODUCTION OF COAL AND BEEHIVE
COKE
(IN NET TONS)
OF
1
Calendar Year to Date
Week Ended
837
PRODUCTION, SHIPMENTS, AND STOCKS OF FINISHED PORTLAND
CEMENT, BY DISTRICTS, IN JUNE, 1935 AND 1936 (IN THOUSANDS
BARRELS)
,
Stocks at End
July 25
1936
July 18
District
July 27
1936 d
c
1935
1935
1936
Production
1935
Bltum.
coal:
Dally aver.. 1,217,000 1,176,000 1,052,000
anthra.:
Eastern Pa., N. J., and Md
New York and Maine
1,291,000
292,122,000
1,665,000
1,184,000
752,000
777,000
129,500
aver..
838,000
139,700
125,300
29,914,000.
172,400
31,407,000
181,000
39,447,000
Tot. for per'd
26,000
4,333
Daily aver..
25,400
4,233
12,800
3,913,400
504,100
2,848
d759,900
4,293
2,133
22,110
Includes lignite, coal made Into coke, local sales, and colliery
fuel,
b Includes
shipped
e Adjusted
by truck from authorized operations, c Subject to revision, d Revised,
to make comparable the number of working days in the three years.
587
ESTIMATED
WEEKLY
STATES
subject to revision
sources,
or
AND
are
MONTHLY
based
PRODUCTION
Week Ended
728
495
1,230
878
989
796
885
907
1,204
840
1,501
725
835
523
841
444
313
518
651
256
332
182
335
550
389
1,138
569
1,105
1,324
1,341
139
394
179
414
450
504
8,725
11,273
7,632
12,417
23,083
19,287
Ida.
,
PRODUCTION, SHIPMENTS,
CEMENT, BY
BARRELS)
and
receipt of monthly tonnage reports from district and State
of flna.l annual returns from the operators.)
STOCKS
AND
1935
IN
MONTHS,
Month
Monthly Production
3,649
1,475
2,548
1,543
1,809
1,551
2,409
275
Oregon and Washington
on
756
1,324
1,056
1,434
551
BY
COAL,
OF
railroad carloadlngs and river shipments
on
581
807
953
California..
(IN THOUSANDS OF NET TONS)
(The current estimates
801
1,261
1,092
Total.
are
1936
4,142
1,621
2,882
2,033
3,035
1,715
2,877
1,803
_
Colo., Mont., Utah, Wyo. &
Sullivan County, washery and dredge coal, local sales, colliery fuel, and coal
2,248
1,469
996
.
Texas
a
1935
563
.
227,400
Beehive coke..
1,917
1,681
Ohio, western Pa., and W. Va._.
Michigan
Wis., 111., Ind. and Ky
Va., Tenn., Ala., Ga., Fla., & La.
East. Mo., Iowa, Minn. & S. Dak.
W.Mo., Neb., Kan., Okla.
Ark.
b
Tot. for per'd
Daily
of Month
1936
1935
1936
a
Tot. for per'd 7,300,000 7,058,000 6,311,000 d225273000 206,543,000
Pa.
Shipments
1929
e
Production
FINISHED
OF
AND
(IN
1936
1,509
560
PORTLAND
THOUSANDS
OF
Stocks at End of
Month
Shipments
State
July
18 July
1936
Alaska..
1935
June
May
1936
1935
June
1936
11 July 20
1936
2
Alabama
2
2
7
9
7
187
188
139
857
890
795
28
n
25
20
93
63
97
Arkansas and Oklahoma..
Colorado
January
February
3,202
304
May
1
1
1
4
4
3
June
661
626
486
2,742
2,474
3,066
July.
Indiana..
210
207
164
1,005
996
1,193
August
September
64
Iowa
62
41
Kansas and Missouri
180
38
42
284
305
65
247
170
84
89
77
341
342
416
640
669
512
2,917
2,995
2,641
103
82
84
438
390
554
„w..
Kentucky—Eastern
Western.
Maryland.....
Michigan
27
113
19
23
North and South Dakota
Ohio
4
10
203
166
30
18
109
99
103
13
47
50
49
354
272
1.411
1,900
1,542
8,010
1,390
7,786
1,690
8,229
324
310
323
Tennessee...
October
November
Total—,
182
343
bituminous...
12
14
81
81
59
8,222
8,725
8,021
7,235
7,173
7,510
7,093
5,803
December
39
36
2,030
;
.
Pennsylvania
4
50
26
New Mexico
3
51
,
Texas
13
12
14
65
56
Utah...
27
27
27
109
123
207
155
813
790
a
Washington
28
16
106
1,617
1,577
1,260
6,917
6,586
98
6,413
495
a
__
479
387
1,876
2,034
2,135
314
318
378
Wyoming
77
Other Western States
on
*
*
2
3
28,541
5,485
761
724
3,948
4,577
30,117
5,642
7,810
on
6,846
752
anthracite
Includes mines
76
*
98
7,058
Grand total..,.
a
68
*
c__
Total bituminous coal......
Pennsylvania
53
25
Northern b
7,607
6,209
33,248
33,118
35,759
29,300
the N. & W., C. <fe O., Virginian, K. & M., B. C
& G
,
and
the B. & O. in
Kanawha, Mason, and Clay counties,
b Rest of State, including
District, and Grant, Mineral, and Tucker counties,
c Includes
Arizona, California, Idaho, Nevada, and Oregon.
* Less than 1,000 tons.
the
Panhandle
July Coal Output Above Preceding Month and
Ago, According to Preliminary Figures
a
21,991
23,083
23,287
22,415
21,783
20,501
21,613
22,908
Year
According to preliminary estimates made by the United
States Bureau of Mines, bituminous coal output
during the
month of July, 1936, amounted to 32,113,000 net tons, com¬
pared with 22,339,000 net tons in the corresponding month
last year and 29,300,000 tons in June, 1936.
Anthracite
production during July totaled 4,127,000 net tons, as against
3,536,000 tons a year ago and 3,948,000 tons in June, 1936.
74,934
76,472
Note—The statistics given above are compiled from reports for June, received
by the Bureau of Mines, from all manufacturing plants except two.
Purchases
of
817
West Virginia—Southern
22,686
22,971
21,126
20,571
a20,431
19,287
Revised.
144
209
I..1*111
Virginia
1936
21,785
21,899
21,289
21,219
3,889
3,156
7,138
9,089
11,121
12,417
138
106
3
Montana..
1935
1936
2,846
2,951
4,878
6,198
7,428
7,632
7,813
8,105
7,799
8,794
5,976
4,514
3,630
3,454
5,263
8,519
10,985
11,273
3,053
4,299
6,136
March
April
Illinois
Georgia and North Carolina..
1935
1936
1935
Lead
Continue
at
High
Larger Volume
Buying in
Rate—Zinc
The
Aug. 6 issue of "Metal and Mineral Markets" stated
producers of lead experienced another active week,
seven-day period being well above the average
that
sales for the
in volume for the sixth consecutive week.
lead
The market for
firm in all directions, but the
price remained un¬
changed.
Zinc buying improved in the last two days,
pointing to a good rate of consumption and increased optim¬
ism on the foreign outlook.
Copper, so far as new business
was
concerned, was quiet in the domestic trade, though
active abroad.
The industry expects rather favorable July
statistics on copper. Tin was unsettled, with the news on
negotiations for the renewal of the control plan less en¬
couraging.
Silver was featureless.
Quicksilver sold in a
larger way than recently at lower prices. Antimony declined
one-quarter cent. Refined platinum advanced $3 per ounce
to
was
"M. & M. M." further continued:
$43.
Copper
Domestic
which
the
week
buying of copper was
on
reduced scale in the last week,
a
expected because of the unusual activity last month.
was
totaled
2,269 tons.
The business
booked
was
on
Sales for
the basis of
9Mc., Valley.
The record for July discloses that 175,484 tons were sold in that month.
The Bureau's statement follows:
Of this total, 2,210 tons were sold for July shipment; 3,340 tons for August;
7,157 tons for September; 147,928 tons for October; 10,394 tons for No¬
Total for
Month
{Net Tons)
No. of
Working
Average per
Working Day
(Net Tons)
Days
Cat. Years to
End of
July, 1936 (Preliminary)Bituminous coal
Beehive coke
26
1,235,000
26
158,700
3,846
26
.
232,210,000
31,382,000
768,400
June, 1936 (Revised)—
Bituminous coal....
29,300,000
3,948,000
92,800
26
859,000
211,562,000
3,536,000
26
26
136,000
1,769
32,181,000
46,000
Beehive coke
26
22,339,000
Anthracite
26
1,127,000
151,800
3,569
26
in good volume at moderately higher prices.
was
believe the
trend of events in
Beehive coke.
Note— All current estimates will later be adjusted to
complete canvass of production made at the end of the
Some
Spain and the general speeding
plants accounts for a large part of the recent
foreign buying of copper.
Effective Aug.
1, 1936, those foreign producers of copper who are par¬
ticipating in the curtailment agreement will increase operations 5%, bring¬
ing the rate to 75% of capacity.
This will increase mine output in the
foreign field by about 3,250 tons
month.
a
Opinion among producers is
that the current rate of consumption of copper abroad is easily large enough
July, 1935—
Bituminous coal.....
Anthracite
Foreign buying
observers
up of operations in armament
32,113,000
4,127,000
100,000
Anthracite
vember; and 4,455 tons for December.
July
(Net Tons)
512,100
agree with the results of the
year.
to
abosrb
increased
the
supply
without
weakening the
price structure,
especially with some doubt over the status of Spain as a producer under
present
trying
conditions in
that
country.
Rio
Tinto's mines in
have been shut down for the second time this year.
in
Spain amounts to less than 30,000 tons
Spain
Production of copper
a year.
Lead
Production
of
Portland
Cement
During June
Year Ago
29.2%
monthly cement statement of the United
Bureau of Mines showed that the Portland cement
States
Above Like Month
a
The
industry
in June* 1936, produced 11,273,000 barrels,
shipped 12,417,000 barrels from the mills, and had in stock at the end of
the month
19,287,000 barrels.
Production and shipments of
Portland cement in June, 1936, showed increases of 29.2
and 62.7%, respectively, compared with
June, 1935.
Port¬
land cement stocks at mills were
16.4% lower than a year
ago.
The total production for the first half of 1936 amounts
to 43,124,000 barrels, compared with
33,637,000 barrels in
the same period of 1935, and the total
shipments for the
first half of 1936 amounts to
46,810,000 barrels, compared
period of 1935.
of relation of production to
capacity the total output of finished cement is compared
with the estimated capacity of 160
plants at the close of
June, 1936, and of 162 plants at the close of June, 1935.
with 31,933,000 barrels in the
In the following statement
A firm undertone continued in lead in the first week of the month, and
the trade witnessed another
same
amounting
to
about
business in lead.
many
good rate, and,
a
by higher
shipment lead again
facturers
The
gradual reduction in surplus stocks has im¬
a
A reduction in stocks of
followed
were
the East at
remain
The St.
a
Demand for prompt-
Battery makers and pigment
was a feature.
at
New
4.60c.,
Smelting &
York,
which
is
the
brands in
own
premium.
of
zinc
are
showing
more
last two days some good business was
interest
zinc for
delivery over the last quarter of the year.
firmer,
consumers
prevailing prices.
country,
here
were
more
in the
market.
The month
The 12 months ended
39.6%
27.7%
52.3%
32.7%
48.9%
31.6%
39.2%
30.5%
23.4%
29.6%
the
inclined
to
With the foreign market
increase
their holdings
at
Because of the favorable statistical position of zinc in
and rising costs, it is
generally known that producers
for
up well,
compared with the 2,700 tons sold in the preceding week.
a
In
placed, calling for Prime Western
anxious
1936 April, 1936 Mar., 1936
contract
Refining Co., and at 4.45c.,
Joseph Lead Co. reported sales of its
Zin
Consumers
this
June, 1935 June, 1936 May,
manu¬
active buyers last week, and cable makers took a fair tonnage.
quotations
Louis.
substantial character would certainly
a
producers contend.
prices,
settling price of the American
St.
week of good
the sixth
With the monthly rate of consumption approaching the 40,000-
mark, the prospect for
proved.
be
This marks
tons.
in the industry believe, the trend in the use of the metal is pointing
upward.
ton
period of good buying, the sales for the week
12,500
Consumption is being maintained at
higher market.
This
week's business is expected to show
orders in zinc, common grades, now total around 42,000 tons.
of Prime Western to consumers last
continued at 4.80c., St.
Louis.
are
week totaled
3,450 tons.
Unfilled
Shipments
The price
.
Financial
838
gross
Tin
continued throughout the week and very little
domestic business was reported.
Straits tin at the beginning of the week
was 42.825c., and at the close on Aug. 5 the quotation was 42.800c.
One
of the delegates who took part in the recent conversations with Siam, Mr.
Van den Broek, issued a statement early last week that restriction nego¬
tin
in
Unsettlement
tiations would be
resinned only at
Siam's request.
the Eastern and Arnhem
July, which com¬
pares
tons a year ago.
Total deliveries in July came to 10,648 tons, against 12,007 tons in June,
and 7,565 tons in July last year. United States deliveries for July amounted
to 7,121 tons, against 7,795 tons in June, and 5,290 tons in July, 1935.
Chinese tin, 99%, was nominally as follows: July 30th, 42.075c.; 31st,
42.000c.; Adg. 1st, 42.000c.; 3d, 42.250c.; 4th, 42.125c.; 5th, 42.050c.
of tin, including
world's visible supply
The
amounted to 16,759 long tons at the end of
with 16,448 tons a mo^th previous and 16,173
carry-overs,
of 1934 of 25,599,118 gross tons of open-hearth
and Bessemer steel.
Average daily production in July was 150,874 gross tons,
which compares with 153,263 gross tons in June and with
87,224 gross tons per day in July, 1935.
MOI&HLY PRODUCTION OF OPEN HEARTH AND BESSEMER STEEL
W
INGOTS—JANUARY, 1935 TO JULY, 1936
(Reported by companies which in 1935 made 98.03% of the open hearth and 100%
of the Bessemer
ingot Production)
Calculated Monthly
3,045,946
2,964,418
3,342,619
51.40
112,813
27
54.03
25
58.58
118,577
128,562
9,352,983
54.64
119,910
78
3,942,254
4,046,253
3,984,845
69.09
151,625
155,625
153,263
26
69.94
153,504
78
Second quarter..
11,973,352
21,326,335
62.29
136,707
156
First six months.
3,922,731
68.74
150,874
2,870,161
2,774,271
2,865,292
48.02
106,302
115,595
110,204
27
49.78
8,509,724
49.92
110,516
77
2,640,602
2,633,661
2,258,664
45.88
26
44.06
40.81
101,562
97,543
90,347
7,532,927
43.62
96,576
78
Second quarter..
16,042,651
46.75
103,501
155
First six months.
June,
May,
April,
March,
2,267,827
39.40
87,224
26
2,915,930
48.78
107,997
27
2,825,004
51.04
113,000
25
8,008,761
46.38
102,676
78
24,051,412
46.63
103,225
233
3,142,759
3,150,409
3,073,405
52.58
116,398
54.73
121,170
26
55,53
122,936
25
9,366,573
54.24
March
First quarter..
April.
May.
Feb.,
1936
1936
1936
1936
1936
43,252
14,372
18,200
5,154
12,339
2,380
1,926
42,483
15,180
18,550
5,547
12,083
2,406
1,988
36,228
Germany
12,456
Italy
Rhodesia
2,381
1,915
44,905
16,231
18,299
5,034
12,977
2,427
2,016
773
804
778
806
753
11,957
22,500
12,444
22,600
11,666
21,300
11,819
21,800
11,077
20,700
44,947
16,736
13,680
4,320
United States
Netherlands a
—
France
—
r;—
Elsewhere b__
—
a
b Includes Norway,
Partly estimated,
131,367
137,737
131,655
World's total
lovakia, Yugoslavia, and
132,662
12,601
17,608
5,100
11,574
2,312
1,870
119,823
Poland, Japan, Indo-China, Czecho-
Russia.
Pig Iron Daily Output
Slightly Lower in July
Age" in its issue of Aug. 6 stated that production
of coke pig iron in July, at 2,594,268 gross tons, compares
with 2,586,240 tons in June.
The daily rate last month
showed a decline of only 2.9% from that of June, or from
The "Iron
The "Age" further said that:
86,208 tons to 83,686 tons.
146 furnaces
operating at a rate of 83,720 tons daily, against 145 furnaces one month
before which were producing iron at a rate of 85,405 tons daily. Independent
steel companies blew in three furnaces and took two off blast, and both
the Steel Corp. and Merchant producers kept the same furnaces operating
1, there was a gain
On Aug.
in July as
of one furnace making iron,
in June.
1931
January
55,299
60,950
65,556
67,317
64,325
54,621
....
February..
March
April
May
June.
1932
31,380
33,251
31,201
28,430
25,276
20,935
1933
18,348
19,798
17,484
20,787
28,621
42,166
1935
1934
39,201
45,131
62,243
57,561
65,900
64,338
47,656
57.448
57,098
55.449
55,713
51,750
1936
65,351
62,886
65,816
80,125
85,432
86,208
61,356
28,412
24,536
54,134
54,138
74,331
18,461
17,115
19,753
20,800
21,042
December
31,625
17,615
57,821
59,142
50,742
43,754
36,174
38,131
39,510
34,012
29,935
30,679
31,898
33,149
49,041
56,816
59,216
63,820
58,864
67,950
83,686
November
47,201
41,308
38,964
37,848
36,782
50,069
23,733
36,199
43,592
57,556
First six months.
July.
August.
_i
September
October
12 mos. average.
PRODUCTION
OF
COKE
PIG IRON AND
(GROSS TONS)
Pig Iron
1936
March
First quarter.
April.
May.
June-
July
August
September.
Third quarter..
Nine months.t.
October...
November.
December.
Fourth quarter.
March.
J
June.
..
......
Half yeiar.
July..
-
1936
24,766
1935
10,048
12,288
128,058
88,902
20,205
13,175
12,735
15,983
19,007
18,245
17,126
October
24,988
22,725
19,667
18,363
15,549
17,762
18,302
17,541
12,961
185,173
The 1934 production of this Iron
Included in pig iron figures.
These totals do not include charcoal pig iron.
25,834 gross tons,
y
July Steel Output Slightly Below June
Steel ingot production in July declined
the June output but stood 73% above the
fractionally from
tonnage produced
July, 1935, according to report released Aug. 7 by the
American Iron and Steel Institute.
Production of open-hearth
and Bessemer steel ingots: in
July totalled 3,922,731 gross tons, 68.74% of the industry's
capacity.
In June, 3,984,845 gioss tons were produced,
equivalent to 69.83% of capacity. Output in July of last
year was
2,267,827 gross tons, 39.40% of capacity.
Aggregate production of 25,249,066 gross tons of steel
ingots in the first seven months of 1936 not only exceeds by
38% the output in the same
27
26
27
78
120,084
311
Declines
Lead Production
lead
far as possible to
production of the world allocated so
country of origin of the ore:
May, 1936
June, 1936
United States
39,558
36,756
a
14,660
Canada
,
18,629
13,007
e3,877
5,043
Mexico
Germany.,.
Italy
15,456
20,706
13,132
e3,996
2,300
4,440
16,500
18,986
6,698
1,653
3,600
135.287
Spain..
144,725
14,700
17,417
6,698
e2,200
c
j.
b Includes Belgium,
Russia, Great Britain,
partly estimated, c In¬
Argentina, Peru, Japan
Partly estimated.
a
domestic
From
material only,
and the product of foreign ore
Steel
Ingot
smelted in the United States
Production
the
period of last year 18,310,478
Hits
New
e
High
Point for
Year
The "Iron Age" in its issue of Aug. 6 stated that steel
ingot production, at 72%, has risen to a peak for the year
favorably with
several prosperous years that ended
with 1929.
The current rate is equivalent to a daily output
of about 158,000 tons, which is only 19% below the best
record of 1929—195,255 tons a day in June.
It also com¬
pares favorably with peak daily averages in previous years
—172,221 tons in October, 1928; 168,867 tons in March,
1927; 165,504 tons in March, 1926; 161,321 tons in March,
1925; 161,796 tons in March, 1924, and 158,549 tons in
April, 1923.
The "Age" further stated:
thus
far
and in
marks in
Despite
a
actual tonnage compares
the
moderate decline in new buying, a
mately the present rate through
in
.
table, which was recently released by the
American Bureau of Metal Statistics, gives in short tons,
high
21,007,802
Year.
24
26
Poland, France, Austria, Czechoslovakia, and Yugoslavia,
cludes Australian lead refined in Great Britain, d Includes
Ferromanganese y
1,520,263
1,761,286
1,776,476
1,978,411
2,065,913
2,106,453
December..
26
The following
Total
9,799,000
September.
26
107.453
48.54
Elsewhere d
1,477,336
1,608,552
1,770,028
1,663,475
1,727,095
1,552,514
November.
26
Calculated for each year on
Tunis
2,025,885
1,823,706
2,040,311
2,403,683
2,648,401
2,586,240
August
1
Burma
•2,594,268
February
April
May
33,417,985
.....
52.22
26
annual capacities, as of Dec. 31 of the preceding year
as follows:
Dec. 31, 1935, Open-hearth and Bessemer ingots 68,475,509 gross tons,
Dec. 31, 1934, Open-hearth and Bessemer ingots, 68,849,717 gross tons.
*
Australia
OF FERROMANGANESE
x
1935
69/83
Other Europe b
13,528,226
January
was
February.
June World
PRODUCTION OF COKE PIG IRON IN THE UNITED
SINCE JAN. 1, 1931—GROSS TONS
STATES BY MONTHS
70.91
1935
January..
,
DAILY AVERAGE
g
July.
Total
»
^Furnaces blown out or banked include: One Bethlehem furnace, Bethle¬
hem Steel Co.; one Aliquippa, Jones & Laughlin Steel Corp., and one
Portsmouth furnace of the "Wheeling Steel Co.
The Bethlehem Steel Co. blew out or banked one of its Sparrows Point
units.
Days
(Cross Tons)
Capacity
Tons
Working
Production
*Per Cent of
Cross
June.
Spain
Anglo -Australian
of
Daily
February
table shows zinc production of the world
during the month of June, 1936, and the four preceding
months by primary metallurgical works, as reported by the
American Bureau of Metal Statistics, in short tons:
Belgium and
Number
Calculated
Production
1936
The following
American
for the
nearly equal to the total output
tons, but is
entire year
January
Lower During June
World Zinc Production
Other North
1936
Aug. 8,
Chronicle
of
orders
on
mill books.
continuation of approxi¬
August is assured by the heavy backlogs
and delivery problems are
In fact, production
moment than new business, as con¬
of steel which, in most instances,
is going into immediate consumption.
Backlogs are heaviest in plates,
shapes and bars for construction uses and in sheets for miscellaneous re¬
quirements.
On some sheet specialties deliveries run as long as six or
seven
weeks, a somewhat surprising situation considering the fear that
of greater concern
sumers are
new
sheet
to the mills at the
pressing for quicker shipments
rolling
capacity of the continuous type was
outstripping the
country's ability to consume.
of the rapid
$1 a ton higher
at leading centers, and they have yet to decide upon the wage increases
that are demanded by workers at some mills.
Should wage increases be
granted, price increases for fourth quarter are likely to follow, and. in
view of this possibility, a few steel companies have instructed sales offices
Meanwhile, steel mills are
advance in scrap prices,
faced with higher costs because
which this week are 50 cents to
Volume
Financial
143
to avoid commitments other than for identified construction
would require deliveries after
Legal counsel of
Sept. 30.
projects
some
steel com¬
panies have given the opinion that shipments of the same products at the
time at different
same
be
prices,
as
This week's production rate is one-half point higher than a week ago,
reflecting
increases
the
in
Pittsburgh,
eastern
Pennsylvania districts.
and
Buffalo.
at
quirements
builders,
The
for
public
duction
overs
runs
the
and
by pressing re¬
industry,
construction
host
a
msicellaneous
of
the automotive industry have lessened as
1936 models
on
to new
steel is sustained
from
railroads,
utilities,
While shipments to
raw
products
models, initial steel orders for the 1937
and the full influx of this business in late
high pro¬
August
being received
cars are
fresh delivery
may create
which
from stricken
industry.
but
areas
Use of
has
and
brought
a
cans for corn and pea
ordered
was
cancellation
some
of farm
orders
machinery
spirit of extreme caution to the farm equipment
tin plate mills have not
packs
Mar.
packs has been greatly curtailed,
suffered severely as the tin
time
plate for these
Offsetting reduced consumption of
ago.
2
9
Mar. 16
The
outlook
for
the
wire
industry is distinctly less encouraging
output in
July totaled 2,594,268
tons,
gross
compared with
2,586,240 tons in June, or a daily rate last month of 83,686 tons from
86,208 tons in June, a loss of 2.9% in the daily average.
There was a
gain of one active furnace on Aug. 1, when 146 were in blast, against 145
July 1.
on
However, the daily rate of the 146 was only 83,720 tons com¬
pared with 85,405 tons for 145 on July 1.
Ore shipments in July from
Lake ports totaled 7,159,563 tons,
upper
the
same
The
at
those of
over
"Iron
Age"
a
$14.75.
composite
steel scrap
price
were
advances of 75 cents
a
$14.25
advanced to
has
week ago and is the highest since
There
Feb. 26, 1936, when it
ton at
Pittsburgh, 50 cents
Chicago and Philadelphia, and $1 at Youngstown, the latter not being
included in the composite figure.
In
some
districts
shortage of scrap is
a
apparent.
THE "IRON AGE"
Aug. 4, 1936, 2.159c. a Lb.
One week ago
(Based
2.159c.]
rolled strips.
(
2.124c.
on steel bars, beams, tank plates,
These products represent
85% of the United States output.
*
High
1936
2.130c.
Jan.
7
2.130c.
Oct.
1
1934
2.199c.
1933
2.015c.
1932
Low
2.084c.
Mar. 10
2.124c.
Jan.
Apr. 24
2.008c.
Oct.
1.867c.
"
operating rate at
3
1929
15—..70.0% Aug.
3
71K%»
equal
to
the year's highest mark,
and
approximately
The
month
69.3%,
below
fractionally
only
the
was
average
and
con¬
The
Pittsburgh increase advanced operations there to 69%.
In the
Chicago district operations were up one point to 71%, while Wheeling
showed
a gain of three
points to 92.
Buffalo was down three to 81; Cleve¬
land three to 82, and the other districts were
unchanged.
Swiftly advancing prices of iron and steel
which
has
for
been
is
apparent
54 cents
up
mills for
at
to
$13.66,
the
scrap
last
about
testify to the scarcity
"Steel's"
month.
between
midway
scrap
the levels
the first and second weeks in
May.
For five consecutive weeks this
index has advanced steadily from $12.47, and indications
point to a further
upward
movement in the near future.
Twelve leading producers
total ingot capacity, have
of steel,
reported
the first six months of 1936.
representing 83%
of the country's
profit of $41,281,010 for
an aggregate
This compares with $14,736,156 profit for
the identical 12 in the first half of 1935.
On the basis of steel ingot output
New business showed
backlogs provide
the
4
1.926c.
Feb.
2
13
1.945c.
Dec.
29
7
2.018c.
Dec,
9
Oct.
29
2.286c.
Apr.
2
Dec. 11
2.273c.
1928.
2.217c.,
July
17
2.402c.
Jan.
2.212c.
Nov.
$18.84
...
on
average of basic iron at
furnace and foundry Irons at
18.84
Philadelphia,
Birmingham.
17.84
High
$18.84
Jan.
1936
1935
18.84
1934
Nov.
17.90
Buffalo,
Valley
Chicago,
Valley
Low
7
17.83
May
'
1
by 1,559
was
4,688
Jan.
27
16.90
Dec.
5
13.56
Jan.
3
1932
14.81
Jan.
5
13.56
Dec.
6
15.90
Jan.
6
14.79
Dec.
15
18.21
Jan.
7
15.90
Dec.
16
:
1929
18.71
May 14
18.21
Dec.
17
1928
18.59
NOV. 27
17.04
July
24
1927
19.71
Jan.
17.54
Nov.
4
1
Aug. 4, 1936, $14.25 a Gross Ton
One week ago
The
13.081
No. 1 heavy melting steel.
quotations at Pittsburgh, Philadelphia
on
and Chicago.
11.83 [
High
Low
1936
$14.75
Feb.
25
S12.67
1935
13.42
Dec.
10
10.33
Apr. 23
1934
13.00
Mar. 13
9.50
Monthly
cars.
In
cars.
1935
12.25
Aug.
6.75
Jan.
3
5
last week,
exceeds the June
average for the first six months
awards
for
the
entire
first
tahlf
of this
totaled
mills to
up
a
about
expiration of second quarter price protection on specific
projects helped bolster the activity of structural and plate
certain extent.
Last week's shape awards totaled 27,752 tons,
10,000 from the previous week.
a
were
There
were
good volume of 1,000-ton jobs
no
were
exceptionally
Rein¬
placed.
down to 3,862 tons.
Average daily pig iron output in July, 83,404
gross tons, was
3,147 tons
lower than in June, a decrease of 3.6%.
The seven months' average
this year, 16,165,539 gross tons, is a gain of 4,815,265 tons over the corre¬
July output, 2,585,537 gross tons,
10,991 less than in June, a decrease of 0.42%.
At the end of July 148 stacks were in operation, more than in
any month
since June, 1930, when 162 were active.
The July figure was four
greater
than in June of this year.
At Pittsburgh 37 out of 60 blast furnaces
were
operating.
By-product coke
operating almost at capacity.
If the present
rate is sustained total output for the year would be well over
41,000,000
net tons, exceeding the 1923 record of
37,597,664 net tons.
ovens are
$33.72.
the iron and steel index is
21
up
"Steel's" finished composite remains unchanged at $53.40.
Steel ingot production for the week ended Aug. 3 is
placed at 72% of capacity, unchanged from the previous
week, according to the "Wall Street Journal" of Aug. 5.
Two weeks ago the industry was at.70%.
The "Journal"
Sept. 25
1933....
By Sept. 1
procedure.
same
July 31
cents to
(Based
$13.67{
Demand for steel
Due to the increase in scrap prices,
Steel Scrap
with
only 6,333.
construction
7
1933
1931
previous week, the
even
apparent, with Ford coming into the
-
May 14
16.90
the
decline of only 893.
sponding period last year, or 42.4%.
Jan.
desire to get in ahead of
a
awards, 6,779,
was
$18.84
5
and
a
more
following the
forcing bar awards
Based
week, but heavy
falling off which is not too
this type of buying will be more in evidence again.
With the award of 3,000 tank cars by Union Tank Car Co.
the unofficial July average of domestic
1
Pig Iron
some mills last
any
Prompted by
market for material for 157,000 units, mainly for 1937
models, and Chevrolet
and other General Motors units
large awards, but
Aug. 4, 1936, $18.84 a Gross Ton
slight decline at
1937 models became
year
Oct.
4
a
ample cushion for
fall activity, some miscellaneous consumers have ordered in
larger quantities
than usual.
2
Jan.
'
an
extensive at the present time.
18
Jan.
..2.317c.
per ton, compared with $1.23 indicated for the first half last year.
Apr.
1927
One month ago
One year ago.
20
27
July
by far the best July since 1929,
siderably ahead of July, 1935, when the averag erate was 39.44.
Jan.
1.977c.
1930
13
July
July
previous week, putting the July operating
at
June rate.
average
2.037c.
J.,
One year ago
8
6
prospect8 for activity in August improved.
Led by a two-point increase in the
Pittsburgh district, the national rate
advanced one point over the
8
2.273c.
1931
One week ago
One month ago
1
June
July
|
for
1935
1930
May 25
June
70.2%
74.0%
67.2%
69.0%
70.9%
71.5%
71.4%
June 30
July ended with iron and steel markets still buoyant, the national stee
works
95,970 assembled units being
wire, rails, black pipe, sheets and hot
2.159c.
....
Apr. 27
June 22
70.1%
69.1%
69.4%
.67.9%
68.2%
69.5%
May 18.
Automobile production held almost
COMPOSITE PRICES
Finished Steel
One month ago
One year ago.
13
Apr. 20
May
4
May 11
alone indicated profits for the entire
industry in the first half were $2.33
month last year.
from $13.67
was
gain of 60.5%
a
6
June
composite
because of impoverished farming areas.
Pig iron
53.7%
62.0%
64.5%
67.9%
70.4%
71.2%
Mar. 30
Apr.
Apr.
"Steel" of Cleveland in its summary of the iron and steel
markets on Aug. 3 stated:
tin plate for food cans is the good demand for
general line cans and beer
cans.
Mar. 23
52.0%
51.7%
62.9%
53.5%
55.8%
60.0%
average
On the darker side of the picture is the greater realization of crop damage
drought,
17
Feb. 24
1936—
,
car
problems for the mills.
by
10
Feb.
users.
completed prior to shutdowns for change-
are
Feb.
1f)K
1936—
and
Output declined slightly only in the Valleys
demand for
finished
Cleveland-Lorain
Chicago,
839
1936—
Z\
Mar.
has occurred during recent weeks, may
violation of the Robinson-Patman Act.
a
Chronicle
1
8
June
9
further stated:
United States Steel is estimated at 67%, against 66% in the week before
1932
8.50
Jan.
12
6.43
July
1931
11.33
Jan.
6
8.50
Dec. 29
15.00
Feb.
18
11.25
Dec.
9
17.58
Jan.
29"
14.08
Dec.
3
two weeks ago.
Leading independents are credited with 76%,
compared with 77% in the preceding week and 76% two weeks ago.
The following table gives a comparison of the percentage of
production
16.50
Dec. 31
13.08
July
2
with the nearest
15.25
Jan.
13.08
Nov. 22
1930
1929
»
1928
1927
;
The
American
Iron
and
Steel
11
Institute
Aug. 3 an¬
telegraphic reports which it had received indi¬
operating rate of steel companies having 98%
of the steel capacity of the industry will be
71.4% of ca¬
pacity for the week beginning July 27, compared with 71.5%
one week ago,
67.2% one month ago, and 46.0% one year
ago.
This represents a decrease of 0.1 point, or 0.14%
from the estimate for the week of July 27.
Weekly indi¬
cated rates of steel operation since July 1, 1936, follow:
and 63%
corresponding week of previous
years,
together with the
approximate changes, in points, from the week immediately preceding:
on
Industry
nounced that
cated that the
1936
1935
46
1934
26
1933
United States Steel
72
55
1932
67
+1
24
+1H
5014
+1
13
—
—1
76
—1
51
UX
1931
40 X
■—
Independents
+1
+
—1
26 H
58
—1
—1
15>4
31
—2
33
1930
58
+
64^
+
53
+1
1929
94
—2
98
—2
91
—I
1928
72
—
76
H
69
—1
1927
65 H
—3
68
—3 ^
63
—2
i
—4
29
—
Current Events and Discussions
The
Week with the
Federal
Reserve
Banks
ber bank
The
daily average volume of Federal Reserve bank credit
outstanding during the week ended Aug. 5, as reported by
the Federal Reserve banks, was $2,470,000,000, an
increase
of $2,000,000 compared with the
preceding week and a de¬
crease of $6,000,000
compared with the corresponding week
in 1935.
After noting these facts, the Board of Governors
of the Federal Reserve System proceeds as follows:
On
Aug. 5 total Reserve Bank credit amounted
increase of
$2,000,000 for the week.
of $40,000,000
in money in
to
an
This increase corresponds with increases
circulation and $23.000 000 in
deposits and other Federal Reserve accounts
offset in part
of $8,000,000 in monetary gold stock and decreases of
$2,463,000,000,
non-member
by
an
increase
$11,000,000 in
mem¬
reserve
balances and $41,000,000 in Treasury cash and deposits
with Federal Reserve banks.
estimated
to
Member bank reserve balances
be approximately $3,050,000,000
in
excess
on
Aug. 5
were
of legal require¬
ments.
Relatively small changes
were
reported in holdings
purchased bills, industrial advances,
and United
of discounted
States
Government
and
se-
curitie..
The
statement in full for the week ended
Aug. 5, in com¬
parison with the preceding week and with the corresponding
date last year, will be found on
pages 870 and 871.
Changes in the amount of Reserve. bank credit outstand¬
ing and in related items during the week and the year ended
Aug.
5,
1936,
were
as
follows:
Aug. 8, 1936
Financial Chronicle
840
Increase
(+)
Decrease
or
(—)
SiTVOO
3,000,000
Bills bought
Industrial
Including
commltm'ts—Aug. 5)
In New York
29,000,000
—3,000,00.0
+3,000,000
-2,463,000,000
Total Reserve bank credit--
+ 2,000,000
stock---—---------10650,000,000
2,496,000,000
-6,163,000,000
+40,000,000
--6,005,000,000
with Fed-
—11,000,000
2,866,000,000
■'—41,000,000
Non-member deposits and
-
+ 23,000,000
575,000,000
♦
^
New York City
1936
•
1
8,694
8,627
'
.•
Aug. 5
'
1936
$
$
2,079
$
872
73
Outside New York City
Loans
securities
on
805
55
866
72
1,737
43
1
31
____
40
5,938,000,000
723
141
142
158
131
20
20
21
States.
Loans
133
29
122
61
1,114
15
5
340
15
5
332
15
7
—10,000,000
—------
ment costs in
235
—-
1,226
133
27
1,215
IT. S. Govt, direct obligations..
3,863
3,880
3,103
1,124
1,121
921
Other securities--
491
1,120
505
1,148
355
1,035
92
302
93
306
82
266
Reserve with F. R. Bank
2,369
2,350
2,132
573
615
477
50
74
53
78
451
470
42
90
500
30
194
69
32
193
75
35
208
75
6,195
673
191
6,269
570
191
5,500
599
246
1,507
434
101
1,551
434
101
1,335
415
29
2,460
2,429
383
1,993
231
652
6
650
5
496
4
-----
Obligations fully guaranteed by
States government
Cash In vault
Balances with domestic banks._
Other assets—net
—
-
Liabilities—
Demand
deposits—adjusted
Time deposits--—
United States govt, deposits.
—
Inter-bank deposits:
Domestic banks
381
Foreign banks
344
9
239
22
24
28
1,428
1,451
223
227
225
-
,
Capital aocount
*
375
1,427
Borrowings
Other liabilities
+1,086,000,000
• +148,000,000
—17,000,000
—72,000.000
422,000,000
still prevailing in this
the last fiscal year in con¬
On this basis, says the
amounted to
"Index," British unemploy¬
1935 constituted 9% of the total budget and
$9
capita for the entire population, while
per
comparable costs in this country represented one-third of all
expenditure by the Federal government and came to $18 per
capita, or twice as high as in Great Britain.
Moreover
British unemployment costs were included within a bal¬
anced budget while those in the United States added ma¬
terially
to
steadily mounting public debt.
a
The "Index"
also says:
There
the
for
have
inherent
is
United
in
this
affairs both
of
state
Various
States.
lesson and
a
governmental measures
in
a
warning
Great Britain
helped to increase employment in pace with increased industrial pro¬
duction,
notably the
afforded the manufacture
encouragement
of
durable
sound fiscal policy and the impetus given to private building
construction.
At the same time, the apparent resignation to a continuance
goods by
a
of unemployment at a
000,000 insured
years
Revised figures.
$2,300,000,000 for emergency relief in the United
to
trast
out,
the unemployed, it is further pointed
tures in behalf of
126
real estate.
—.
ing jobs actually exceeds that in 1929, states "The Index"
of the New York Trust Co. in its August issue.
Expendi¬
722
United
+1,888,000,000
+159,000,000
+271,000,000
+1,000,000
unemployment in Great Britain has been reduced
about 14% of the insured workers, and the number hold¬
122
Other loans
—7.000.000
marked contrast to conditions
In
698
on
+775,000,000
+63,000,000
+424,000,000
Expenditures in Behalf of Unemployed in Great Britain
During Last Fiscal Year $350,000,000 Compared
with $2,300,000,000 for Emergency Relief in United
States—New York Trust Co. Also Points to Re¬
duction in Number of British Unemployed
—
Loans to banks
+43,000,000
+5,000,000
—65,000,000
—
Accepts, and com'l paper bought
(except banks)
4,859,000,000
385,000,000
amounted to $350,000,000 during
others
to
+255,000,000
+286,000,000
—————
Foreign banks
Borrowings
to
2,077
'
•
—5,000,000
+6,000,000
country,
1935
Loans to brokers and ealers:
In New York City
Inter-bank deposits:
Domestic banks.----—-
Chicago
July 29 Aug. 7
1936
$
7,504
$
$
Assets—
Loans and Investments—total..
Aug. 7
1935
July 29
+2,000,000
-9,000,000
-16,000,000 +1,509,000,000
.
United States govt, deposits
RESERVE CITIES
—35,000,000
+ 13,000,000
+8,000,000
—45,000,000
+410,000,000
—i,"ooo.ooo
1,272,000,000
3,356,000,000
Liabilities—
WEEKLY REPORTING MEMBER BANKS
1936
—8,000,000
1,144,000,000
58,000,000
3,600,000,000
9,456,000,000
2,443,000,000
Time deposits.—
(In Millions of Dollars)
Aug. 5
----------
Demand deposits—adjusted
and
Board of Governors of the
Federal Reserve System for the New York City member
banks and also for the Chicago member banks, for the
current week, issued in advance of full statements of the
member banks, which latter will not be available until the
coming Monday.
IN CENTRAL
2,046,000,000
319,000,000
+50,000,000
14,850,000,000
5,015,000,000
823,000,000
Reserve banks-
Cash In vault.-.-..
"
+82,000,000
—31,000,000
—7,000,000
by
-—-—.
Reserve with Fed.
Below is the statement of the
ASSETS AND LIABILITIES OF
guaranteed
United States government
Other securities
Balances with domestic banks
City
in
obligations—
fully
Obligations
'
New York
Chicago—Brokers' Loans
Banks
Member
of
Returns
bought—
—————
U. S. govt, direct
+61,000,000
,
$
others
to
Other loans
other Fed-
eral Reserve accounts----,
securities
on
Loans to banks
—66,000,000
-
$
—68,000,000 +2,533,000,000
907,000,000
220,000,000
—
(except banks)
Accpts. and com'l paper
Loans on real estate
+ 613,000,000
+890,000,000
Money in circulation
Member bank reserve balances
Treasury cash and deposits
eral Reserve banks
Loans
—-8,000,000
—13,000,000
+ 8,000,000 +1,492,000,000
---------+19,000,000
Treasury currency
and dealers:
City——
Outside New York City--
—1,000,000
Other Reserve hank credit---
Monetary gold
Loans to brokers
(not
advances
$23,000,000
—2,000,000
—-
2,430,000,000
XJ. 8. Government securities
July 31, 1935
22,378,000,000
investments—total
Loans and
(—)
Decrease
or
Since
July 22, 1936
$
Assets—
$
—2,000,000
4,000,000
-----
July 29, 1936
Aug. 7, 1935
$
$
Bills discounted
1936
July 29,
Aug. 5,1936
(+)
Increase
in
report of
a
level
as
high
2,000,000 out of
as
workers—recently forecast as an
a
average
total of some 13,for the next 10
the Unemployment Insurance Statutory Committee—
points to the future difficulties which this country may face if it is not
more
successful than Great Britain in combatting unemployment.
Complete Returns of the Member Banks of the Federal
Reserve System for the Preceding Week
'
explained above, the statements of the New York and
As
$50,000,000 Credit Given to Russia by England to Buy
British
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
entire
the
cannot be
body of reporting member banks in 101 cities
compiled.
In the following
the entire
of
the Federal
Reserve
close of business
agreement reached this week providing for
credits to Soviet Russia by
buy British goods, we take the
following United Press advices from London, July 30, from
the New York "Herald-Tribune" of July 31:
Regarding
an
the extension of $50,000,000 of
the British Government to
System respecting the
body of reporting member banks of
System for the week ended with the
with which to buy British goods.
condition
of
reporting member
weekly
banks in
101
leading cities on July 29 shows a decrease for the week of $68,000,000 in
total loans and investments, an increase of $43,000,000 in reserve balances
Federal
with
Reserve
banks,
and
decrease
a
of $72,000,000 in
deposit
to
brokers
and
dealers
in
New
declined
York
$31,000,000
at
reporting member banks in the New York district, loans to brokers and
dealers
outside
to others
York
New
declined
$7,000,000,
(except banks) declined $8,000,000.
and loans
on
securities
Real estate loans declined
$1,000,000, loans to banks increased $2,000,000, and "Other loans" de¬
clined $15,000,000 in the Boston district and $9,000,000 at all reporting
member banks.
Holdings
of
States
United
Government
$14,000,000 in the New York district
member banks.
States
declined
Richmond
obligations
declined
and $15,000,000 at aU reporting
$11,000,000 in the New York district and
$5,000,000 at all reporting member banks,
the
direct
Holdings of obligations fully guaranteed by the United
Government
district.
Holdings
of
and increased $8,000,000 in
"Other
securities"
increased
$6,-
Boston
dis¬
000,000.
The
Export
deposits—adjusted
declined
$37,000,000
in
the
trict, and increased $18,000,000 in the Chicago district and $10,000,000
in the New York district, all reporting member banks
crease
in
of $7,000,000 for
the New
district.
tricts,
the week.
Time deposits increased $8,000,000
York district and declined $7,000,000 in the San Francisco
Deposit balances of other domestic banks
the
showing-a net de¬
aggregate
decrease
being
$72,000,000.
declined in all dis¬
Deposit
balances
of
foreign banks declined $13,000,000 in the New York district.
A
Guaranty
Credits
Department,
summary
of the principal assets and liabilities of the
reporting member banks, together with changes for the week
and the year
ended July 29, 1936, follows:
Sir
Walter
said,
would
previously had been able to obtain.
With the new
fund,
September 30, 1937.
Russia will
pay
cash for goods to be ordered by
Munitions will not be included among the purchases.
That Soviet Russia will further reduce
imports from other
revealed by A. P. Rosengoltz, Commissar for
Foreign Trade, in an address July 27 before a meeting in
Moscow of foreign trade executives.
In noting that Russia's
purchases from abroad have declined from the peak of more
than 1,000,000,000 gold rubles annually at the height of the
first Five-Year Plan to less than 250,000,000 at present, a
was
special cablegram account to the New York "Times" from
its Moscow correspondent, July 27, said:
The purposes of
the
further restricting imports are twofold as presented by
The first aim is to save foreign exchange and build up
Mr. Rosengoltz.
gold reserve because of the growing war danger.
stimulate the country to develop its own resources
outside world.
The second is to
independently of the
...
The Commissar said perhaps some
Demand
com¬
guarantee principal and interest—5H % for five years.
countries
balances standing to the credit of domestic banks.
Loans
Anglo-Russian
an
Walter Runciman, President of the Board of Trade.
Commons by Sir
The credit, it was said, were regarded as on more favorable terms than
July 29:
statement
$50,000,000 in British loans
Completion of
mercial agreement establishing the credit w as announced to the House of
the Soviet state
The
Russia to Further Restrict
Soviet Russia tonight had the guaranty of
will be found the comments of the Board
of Governors of the Federal Reserve
returns
Goods—Soviet
Imports
tin, of which the United States sold
the Soviet Union $700,000 worth last year,
would have to be
and
a
few other raw materials
imported, "but not such things as wool, bearings, cotton,
rolled steel, &c."
"What
we
will import and possibly in large
quantities," he said, "will be
technical novelties."
Furthermore, he asserted, the Soviet policy would be to reduce the use
of
foreign credits and demand low interest rates.
"Some years
ago," he continued, "we paid 8% interest.
not agree even to
Now we will
6%."
would as far as possible
reject credits offered by foreign companies and pay cash, as has been done
for some time past.
The Soviet Union has already refused to continue
Mr.
Rosengoltz added that the Soviet Union
Volume
some
Financial
143
credits, the terms of which
were not
Chronicle
German
liked, and has liquidated several
duties
credits long before maturity.
The
Commissar
made it
clear,
willing to make credit agreements wjth other countries on long-term bases
upbuilding.
This statement is a possible bid
Mr. Rosengoltz emphasized,
Union would not tie itself up in agreements
been
determined whether
the
deposit the
merchandise is
of
the
If free
Treasury order became effective which required American
consular
however, that the Soviet
was
for large credits from one
' 'J
country.
has
marks are used, it is
understood, the restrictions do not apply.
On Aug. 1 a
to facilitate this country's
for such credits.
until it
American importers are required to
or
subsidy type, within the purview of section 303 of the tariff act.
Soviet Union was
however, that the
841
exporters
officials in
an
Germanyfto refuse to certify invoices unless there
accompanying
statement
marks used and other
■''<
data.
details, kinds of
explaining financing
German regulations make the divulging of
of this information a punishable offense and since the first of the
month, pending clarifying actions, trade transactions have come virtually
some
Plans for Creation of Industrial Credit Bank in Egypt
The
to a standstill.
With Government Support
/
Industrial Credit Bank is another link in the
chain of Government program to promote trade and industry,
a
report to the United States Commerce Depart¬
ment from Assistant Trade
Cairo.
One of the effects of the ban upon the use of registered marks for German
Commissioner, P. A. M. Alfsen,
by the Commerce Department,
An announcement
exports to this country was to increase the supply of travel marks, since
that variety is the only form in which
registered marks may now be utilized.
July 27, continued:
This
Travel
project, the report states, is in line with the Speech of the Throne
made at the opening of Parliament in
Government
promised to
encourage
industrial credit bank.
.
May, in the
of which the
course
Egyptian industry by creating an
J
Previously, it is pointed out, the Government actively participated In
the formation of the Farmers' Credit Bank
designed to facilitate the work
of farmers and farmers' cooperatives.
The operations of the latter bank
have been
within
uniformly successful and it
now
occupies an important position
Egyptian agriculture.
cents
marks
from
expected that the proposal will
soon
of 4%.
coupon rate
It is
be approved and submitted to Parlia¬
ment, according to the report.
At the same time, the report states, a bill is
being prepared
to the Legislature, authorizing the
which is
now
for submission
mortgaging of industrial machinery,
illegal and which constitutes a decided obstacle to the revival
of Egyptian industry.
This bill. It is pointed out, is a companion piece to
the proposal for the industrial credit bank.
The aski marks,
essential imports and
the price
"Times" of
July 21:
on
considering the Polish situation," Mr. Dewey explained, "we
must
V
'
.
"Despite this unfavorable situation, Poland has continued to meet her
external obligations and during the entire
period of the depression has main¬
tained the gold standard.
"In April it became necessary to put In force
foreign exchange restric¬
In June the government announced it could not
make further
part payments on account of principal and interest on the foreign indebted¬
.
tions.
ness, but would hold these
sums
Poland in zlotys.
bankers
^'-V
,
"Poland does not wish to default.
want
some
concession in order
stocks of gold and
minimum.
"There
to
indebtedness, will probably
able to increase the government's
be
foreign exchange, which have
'
are
now reached
'
signs that conditions
are
•
improving.
•
the
banks—that stand any loss on the transaction.
marks at
! .4''.
"
during the
There
also signs of increasing exports.";
Mr. Dewey hopes that if the improvement continues, Poland will be
are
discount.
a
Their willingness to sell registered marks at a sacrifice
cheaper price.
a
with her creditors for the transfer of certain
But the registered mark quotation
slightly under the figure at which the free mark would sell
if it were devaluated to the
same
extent that the dollar has been.
-
At Slower Bate
use
Treasury continues to look with disfavor on the
of registered marks
banks
this
in
in paying for German goods, it will mean that
can
rid themselves of their German credits at
There have been three main
slower rate.
payment
country
for
benevolent
imports,
uses
a
for registered marks, namely,
remittances
travel.
and
The
sale
of
registered marks for use in buying German goods has run into sizable
figures annually.
was
which
said
that
the
Reichsbank
had
instructed
order approved June 4 countervailing duties were imposed
an
other products because subsidies were being paid by the German
government,
trade.
practice held by the United
a
These articles included glass
States to constitute unfair
Christmas-tree decorations, metal-
covered paper, thumb tacks, certain toys and dolls, cotton gloves, leather
gloves and china tableware.
It appeared
"
that because of the extensive trade in German
cameras,
for the
unnecessary
commodities.
German
to
government
subsidize exports of these
'
■
.
■.
\
-
Germany recently announced the abolition of the "Aski" mark, employed
,
for subsidy purposes, following a conference with State and Treasury De¬
,
to make arrangements
In order to salvage some¬
calf and kid leather and surgical instruments in the United States it was
•
past six months, and the farmers' general condition is
improving.
Ml
little to say about
under the free mark rate has made it possible for importers to lay German
legal
The budget, which had
been unbalanced for several years, has now reached
equilibrium
a
thing on German credits, the banks have been willing to sell registered
on seven
'■
" v'-
She is willing to discuss the situation
arise from German payments for
say,
In the case of the use of registered marks In paying for German goods,
however, it is the foreign creditor banks—and in this case the American
Under
to the creditors' accounts in the Bank of
with her creditors and, while
recognizing the
was
banking institutions not to bank registered marks
for financing export German goods to the United States.
There was no Government decree concerning the new rule
on
trade, said the advices, which added reliable sources
reported that the Reichsbank was proceeding within its own
jurisdiction .f
Following representations by the German government that
no subsidies were being paid to exporters of cameras, calf
and kid leather and surgical instruments, the Treasury on
Aug. 5 removed the countervailing duties imposed on those
products. A Washington dispatch of Aug. 5 to the New York
"Times" gave the following additional details:
inter¬
on
But they did feel that there
German
"Poland is about 70% agricultural, and hence she has been
particularly
affected during the past five years by the low
price of agricultural products
inability to export these because of various restrictions
com¬
aski mark.
Berlin
forget that Poland started as a new State only 18 years ago.
The first
foreign credit Poland got was from the BaldwinjLocomotive
Works, and
not only this loan but also others have been
promptly met.
national trade.
6 also
A further check to German-American trade relations
not
and her
;
of Aug.
reported yesterday (Aug. 7) in United Press accounts from
his annual
visit, already has had an opportunity to exchange
views with leading Polish financiers and to discuss the situation
created
by recent developments in this country.
"In
meeting to discuss
a
might be possible for Washington to make out a good case against the
Charles Dewey, the Polish Government's former financial
adviser, who
arrived here
expected to hold
which German exports are sold, it is believed here that it
at
If the United States
Polish Government.
This is learned from the fpllowing
wireless advices from Warsaw, July 20, to the New York
down about 2K
theyjare used by purchasers of German goods for
Adviser
The opinion that Poland is
willing to discuss its foreign
indebtedness, in default, was expressed on July 20, in War¬
saw, by Charles Dewey, former financial adviser to the
today,
known respecting the new
are
Since the German government has more than
has been only
Willing to Discuss Foreign Indebtedness, in
Opinion of Charles
Dewey,
Former
Financial
details
ground for questioning the wisdom of bracketing aski and registered
goods down here at
Poland
as
are
having the Treasury modify its ruling.
export.
a
soon
Bankers here did not appear oversanguine yesterday as to the prospects
of
marks.
with
As
The New York "Herald Tribune"
mented on the ruling as follows:
Egyptian pounds (approximately $5,000,000), half of which will be sub¬
scribed by the State and the other half offered for public
subscription, in
shares
quoted around 22.40 cents
what action if any they can take.
some
of State-guaranteed
were
Friday.
German decrees bank officers
According to the proposal made by the Minister, shortly to be submitted
to the Cabinet, the capital of the new industrial credit
bank will be 1,000,000
the form
•
"According authorities no substitue for asking compensation registered
reichsmarks planned.'!' Orders mailed prior to Aug. 3 but not in hands of
German exporters not protected.
Details registered reichsmarks decree
expected shortly.**
an
according to
.'
.
circular letter quoting
a
cable received from its German correspondents as follows:
a
proposal of the Egyptian Ministry of Commerce to
establish
•
The Chase National Bank sent to its customers
able
partment representatives.
The text of the decision follows:
amounts
"Reference is made to Treasury Decision 48,360, approved June 4, 1936,
■
-
'
'
■
-
'
'
;
•
r
'
:
*
Germany Ends Use of "Aski" Marks as Payment for
Merchandise—United
States
Treasury Officials
Confer
on
Order—Effect
Trade
on
Uncertain—
Treasury Removes Countervailing Duties
tain
German Products
on
Cer¬
•
.
was
It
was
announced that the
not intended
as
a
German
uponjeertain
Germany has removed
one
of
the
main
countervailing duties, ranging from 22H to
kinds of German merchandise imported into the United
The Treasury is not expected to remove the duties for
yet German-American trade negotiations in Washington
—
for any transactions concluded after July 25,1936, which cover the indirect
or
exportation of the following goods to the United States, viz.:
direct
photographic apparatus, calf and goat leather, and surgical instruments,
procedure,
nor permit the
payment of a public or private premium or
subsidy, nor the employment of other German means of payment than
reichsmarks freely convertible Into foreign currencies or free reichsmarks
usuable within the country.
"In view of the foregoing,
shall not apply to direct or
the provisions of Treasury Decision 48,360
indirect imports from Germany of the following
commodities named in that decision: cameras, calf and kid leather, surgical
pursuant to which they were exported from Germany was entered into after
July 25. 1936."
■i
Emile
■
,
■
.
some
are still
,
time,
actively
"
"
•:
♦
Labeyrie,
New
Governor
of
Bank
of
France,
Visits President Schacht of Reichsbank
?
under way.
^
reprisal against American Treasury
By abolishing barter marks
States.
-
in receipt of official advice to the effect that
documentary evidence that the contract of purchase or other agreement
reasons for the assessment of
56%,
"The department is now
instruments, if the Collector of Customs concerned shall be satisfied by
imported from Germany to the United States. The New
York "Sun" of Aug. 5 discussed the German order in
part
follows:
countervailing duties would be imposed
certain German products,
measure
new
Decision 48,360, which became effective on
July 11 and
which imposed countervailing duties on certain merchandise
as
upon
the German government will neither authorize the use of the scrip and bond
Treasury officials conferred this week regarding a decree
promulgated by the German government, forbidding the use
of "aski," registered or blocked marks after
Aug. 3 as pay¬
ment for German
goods. The new regulations caused a
temporary suspension of almost all trade with Germany, as
importers and exporters sought to determine their ultimate
effect.
In which it was announced that
The
following advices from Berlin, Aug. 3 (Havas),
Aug. 4:
are
from the New York "Journal of Commerce" of
a torn of cqurtesy'calls'on heads of foreign State banks, pursuant
established tradition, Emile Labeyrie, new Governor of the Bank of
Making
to a long
France, tonight terminated his first such
Hjalmar Schacht,
visftjhere after conferring with Dr.
ReichsbankJPresident and Minister of Economy.
Financial
842
Aug. 8, 1936
Chronicle
French banking official a luncheon which was
Havana contracting concern
Brownson, head of the
E.
L.
Andre Francois-Poncet. None of the
officials disclosed the nature of the conversations, which are believed to have
revolved around Franco-German banking problems.
After the luncheon Labeyrie visited the Olympic Village, Potsdam, and
the Wannsee Lake region near Berlin.
He will leave tomorrow for Am¬
sterdam to visit the President of the Bank of the Netherlands.
In Septem¬
ber Labeyrie is due to go to London to call on Montagu Norman, Governor
of
*
The later tendered to the
also attended
by French Ambassador
of the Bank of England.
Tageblatt announced
The Berliner
to Paris some time
tonight that Dr. Schacht would go
Labeyrie's visit.
this month to return
Italy Granted 10% Wage
600,000 Industrial Workers in
Increases Under New
the following to say:
,
Ten per
industrial workers were an¬
salary increases for 500,000
cent,
negotiations conducted in the presence of Government
The increases
were
estimated to affect 20,000 mechanical and metal¬
The increases were
The new agreement
effect since 1928.
provides for a revised basis of pay for piece-workers
them larger percentages than
and grants
previously guaranteed.
Anglo-Italian Negotiations for Resumption of
Suspended
Trade
stated in United Press advices from London to the
was
New York "Herald
negotiations for the resumption of trade.
The account from
London added:
he said, was unwilling to accept any arrangement, in regard to
trade debts
which could be considered
Italy was imposing severe restrictions on
At the
"adequate."
same
time
imports from the United Kingdom,
stated.
Sir Walter declared the British
to admit exports from
July'18,
position, announced
of refusing
Italy to Britain with the exception of fresh fruits and
Anglo-Italian trade was cut off by sanctions, since
vegetables, still stood.
other obligations were defaulted in
The public works issues consist
Machado administration.
$60,000,000 of bonds of which almost $20,000,000 have been retired.
The balance is held largely by investors in the United States, only $6,000,000
of
being with
Cuban holders; short-term bankers' credits are held through
United States, and $20,000,000 of con¬
the Chase and other banks in the
certificates
held principally through Warren Brothers for
are
constructional work on national highways.
at
30 this year are estimated
and sinking fund to April
$14,532,391.
conference was held Aug. 5; the hope is expressed,
acceptable formula for the resumption of servicing
of the defaulted public works bonds and bankers' credits,
will develop from the conversations.
A further
it is said
an
Chase National Bank to
Purchases Argentine 6% Gold
Sept. 1, 1927—Invites
Bonds State Railway Issue of
Tribune" that announcement!was made
July 30 in the House of Commons by Sir Walter Runciman,
President of the Board of the suspension of Anglo-Italian
he
public works bonds and certain
1933 during the
Arrears of interest
promised in a new national work contract which would
replace the contract form in
by President Gomez
necessary.
and small.
lurgical establishments, both large
Italy,
statement in June
tractors'
officials.
~It
head referred to a
inviting all interested in the "di¬
verse problems related to the so-called floating debt and other claims for
payments suspended under dispositions of provisional governments" to
set forth their views, but adding, "interviews to be solely for the purpose
of assembling data for Congress, which, under the constitutional law, alone
is authorized to render decisions on such matters."
The Secretary added that the interviews would be repeated as often as
the press, Cuba's Treasury
brief statement to
In a
The
Italy, Aug. 1, had
Parga, and
The cable¬
likewise said:
gram
National Contract
Associated Press advices from Rome,
nounced today after
Purdy & Henderson; his counsel, Dr. Carlos
the Chase bank's local counsel, Dr. Jose Gorrin.
Tenders of $377,414
At-
.
-
Acting for the fiscal agents, the Chase* National Bank,
New York, is inviting tenders for the sale to it at a price
of sufficient Government of the Argentine Nation
bonds state railway issue of
Sept. 1, 1927, due Sept. 1, 1960, to exhaust the sum of
$377,414 to be available in the sinking fund.
Tenders will
be opened at 12 noon, Sept. 1, 1936, and must be delivered
before that time at the corporate trust department of the
below par
external sinking fund 6% gold
bank, 11 Broad St.
.
lifted.
Tenders of Argentine
Ecuador
Protest
A
decree
Sept. 1, 1923,
Sinking Fund
Import Control—
Against Restrictions By Merchants
issued
was
July
on
31
establishing complete
exchange and import control in Ecuador, accord ng to a
cable received from Vice-Consul P. K. Tattersal, Guayaquil,
made
of
Establishes Exchange u£nd
public Aug. 3 by the United States Department of
The Department said:
Commerce.
Vice-Consul Tattersall reported that the banks have suspended foreign
exchange operations but that no regulations
the operation of
had yet been issued covering
exchange control.
the situation, it is advisable for American
Chase
External 6% Gold Bonds, Issue
Invited to Exhaust $475,297 in
National Bank, New York, as fiscal agent,
fund.
Such tenders should be presented
Sept. 1 at the corporate trust department
the sinking
12
noon
bank, 11 Broad St.
when payment is made in advance of
+
Funds
shipment, it was stated.
According
to
a
cablegram
from
Guayaquil
strike
to
bill
was
against the Government's
exchange control
new
abandoned Aug. 1 when the authorities announced
that the right to
strike
recognized only for labor.
was
The
cablegram said that the police warned that owners of all
shops that were closed would be arrested and in the cases
of foreigners deportation might follow. From the cablegram
Provided
for
The
new
of all exports,
bank's gold reserves.
be
necessary protection
a
The decree requires that the proceeds
and that all foreign exchange at present in the hands of
banks and others, be delivered to the central bank.
The reserves of com¬
mercial banks must be deposited in the central bank.
All imports
must be licensed by the central
will be subject to confiscation, in
the importers.
Unlicensed goods
business for the common good.
"Universo" and "Telegrafo" criticize the decree, point¬
ing to the adverse results of both former control
merce
bank.
addition to fines and jail sentences for
The central bank says the law will be administered fairly
and asks the cooperation of
The newspapers
also protest
Debt
Munro
.
Rio de Janeiro (Federal District of the
external sinking fund bonds,
due Feb. 1, 1953, are being notified that funds have been
remitted to White, Weld & Co., and Brown Brothers, Harriman & Co., special agents, for the payment of Aug. 1,
1936, interest coupons of this loan at the rate of 223^% of
their dollar face amount, or $7.3125 per $32.50 coupon.
laws.
Chambers of com¬
Aug. 1
of 1928
Ladenburg, Thalmann & Co., as special agent, is notifying
holders of City of Porto Alegre, Brazil, 40-year 7% sinking
fund gold bonds, external loan of 1928, that funds have been
deposited with them on behalf of the city sufficient to make
a payment of 223^% of the face amount of the coupons due
Aug. 1, 1936, amounting to $7.87for each $35 coupon
and $3.93M for each $17.50 coupon.
The following is also
City of Porto Alegre (Brazil) Remits 22!^% of
Coupons on 7% Gold Bonds, External Loan
from
the law.
Discussions
In
Havana—Dr.
Dana
G.
an
Named to Represent Foreign Bondholders'
"
Protective Council at Conferences
United
announcement issued in the matter:
series
of conferences
the
Cuban public
debt were
brought under way in Havana on Aug. 3, when representa¬
tives of American bondholders met with Secretary of the
Treasury Dr. German Wolter del Rio.
;
on
In New York on Aug. 3 the Foreign Bondholders Protec¬
tive
Council,
Inc. annoupced that
Dr.
Dana G. Munro,
formerly Chief of the Latin American Division of the De¬
partment of State and more recently the American Minister
to Haiti, had been appointed to represent the Council in
the discussions.
In October, 1934, the Council set up a
Bondholders Committee for the Cuban Public Works bonds,
of which George L. Burnham, Treasurer of the Aetna In¬
surance Co.,
Hartford, Conn., is Chairman. The Council
and this Comittee are working together in these discussions.
The Havana rqeeting on Aug. 3, according to a cablegram
from Havana to the New York
Shepherd Morgan,
"Times"
was
attended by
Vice-President of the Chase National
Bank of New York; L. S. Rosenthal, in charge of the Havana
branch; Adam K. Geiger, Second Vice-President and counsel
the Chase National; Andrew M. Williams, both from
New York; Professor Dana Munro, B. F. Feustman, director
of the contracting company of Warren Brothers, Boston;
of
of Brazil such
States
Chief of the Provisional Government
payment, if
accepted in full payment of the coupons
present
due Feb.
of
accepted by holders, must be
and of claims for interest repre¬
sented thereby.
No
A
Aug. 1
Feb. 1,
Holders of City of
Pursuant to the decree of the
Cuban
of
♦-
exchange restrictions were said to
for the central
22^%
United States of Brazil) 6XA%
also quote:
we
of
Payment
Coupons on 6^% External Bonds, due
1953, of City of Rio de Janeiro (Brazil)
(Ecuador)
Aug. 2 to the New York "Times" a plan among merchants
before
of the
«.
In view of the uncertainty of
exporters to ship to Ecuador only
is in¬
viting tenders for the sale to it of Government of the Argen¬
tine Nation external sinking fund 6% series A gold bonds,
issue of Sept. 1, 1923, due Sept. 1, 1957, at prices below par,
in an amount sufficient to exhaust the sum of $475,297 in
<
provision,
the notice states, has been made for
the coupons
1, 1932 to Feb. 1, 1934, inclusive.
221^% of Aug. 1 Coupon Remitted by State of Santa
Catharina (Brazil) on 8% External Gold Bonds,
due Feb. 1,
1947
Holders of State of Santa Catharina,
Brazil, 25-year 8%
external sinking fund gold bonds, due Feb. 1, 1947, are being
notified by Halsey, Stuart & Co., Inc., as special agent,
that funds have been deposited with them on behalf of the
make a payment, in
of America, of 22^%
Aug. 1, 1936, amount¬
ing to $9 for each $40 coupon, $4.50 for each $20 coupon and
90 cents for each $4 coupon.
An announcement in the
matter issued Aug. 3 continued:
State of Santa Catharina, sufficient to
lawful currency of the United States
of the face amount of the coupons due
Pursuant to the decree of the Chief of the
United States of Brazil, such payment,
Provisional Government of the
if accepted by the holders of the
bonds and coupons, must
be accepted in full payment of such coupons
of the claims for interest
represented thereby.
ment upon
at the offices of
and
Holders may obtain pay¬
final cancellation
Halsey, Stuart & Co., Inc., 201 South La Salle St., Chicago,
presentation and surrender of their coupons for
and 35 Wall St., New
York City.
Volume
Financial
143
Chronicle
No present provision has been made for the coupons maturing prior to
Below
Aug. 1, 1934, but they should be retained for future adjustment.
Market
Value
of
Bonds
Listed
Aug. 1
As of
on
of
on
This compares with
gating $44,163,734,954
par
total
Aug. 6:
In the
mental
value
of
value listed
on
1,415 bond issues aggre¬
the Exchange Jul/ 1
,*
with a
249,062,000
242,544,500
220,124,500
294,644,900
320,871,000
334,199,000
349,335,300
372,553,800
418,266,300
456,612,100
439,457,000
391,183,500
824,958,161
815,858,439
773,123,266
804,565,448
792,541,031
808,589,298
768,934,748
772,031,468
781,221,869
792,421,569
846,113,137
938,441,652
600,199,622
631,624,692
753,101,103
688,842,821,
559,186,924
581,490,326
571,304,492 '
31
Nov. 30
Jan.
31
Feb. 28
Mar. 30
Apr. 30
May 31
June 30
following table listed bonds
are classified by govern¬
with the aggregate market
price for each:
1
industrial groups,
value and average
31
Aug. 31
Sept. 29
July
and
Total Loans
$276,107,000
294,013,000
341,667,000
575,896,161
573,313,939
552,998,766
509,920,548
471,670,031
474,390,298
419,599,448
399,477,668
362,955,569
335,809,469
406,656,137
547,258,152
June 30
Oct.
Time Loans
$812,119,359
722,373,686
740,573,126
588,073,826
545,125,876
531,630,447
546,491,416
557,742,348
616,300,286
324,504,713
292,695,852
243,792,915
375,107,915
410,810,915
407,052,915
396,076,915
924,704,335
924,320,544
996,894,018
1,063,950,736
969,997,839
988,543,241
967,381,407
/
334,982,000
329,082,000
299,899,000
280,542,000
273,373,000
263,962,869
1935—.
$41,618,750,056.
market
two-year compilation of the figures:
Demand Loans
Dec. 31
the Neur York Stock Exchange, with a total
on
$41,685,172,818.
on
Exchange
1,403 bond issues aggregating $43,980,-
were
a
Apr. 30..
May 31
July
the New York Stock
issued by the Exchange
was
Aug. 1, 193®? there
902,150 par value listed
value
Stock
following announcement showing the total market
value of listed stocks
843
furnish
1934—
Aug. 1, 1936
on
The
York
New
on
we
31
Aug. 31..
Sept. 20
Oct.
31.....
Nov. 30
Dec. 31..
$1,088,226,359
1,016,386,689
1,082,240,126
923,056,826
874,207,876
831,529,447
827,033,416'
831,115,348
880,263,155
1936
Aug. 1, 1936
July 1, 1936
Jan,
Market
Aver.
Market
Aver.
Value
Price
Value
Price
$
S
Foreign Government
23,273,963,189 106.04 23,219 ,763,221 105.82
67.17
2,270,354,178 67.54 2,260 ,425,892
93.15
8 ,729,856
89.58
9,077,122
78 065,896 106.34
78,353,620 106.73
98 ,684,526 104.81
98,983,429 105.13
46 ,718,039
99.73
46,944,123 102.22
*
Autos and accessories..
Financial.
Chemical
Bunding
Electrical equipment manufacturing..
Food....
Rubber and tires
I..I
Amusements
Machinery and metals
Mining (excluding iron)
ietall
merchandising
Railway and equipment
Steel, iron and coke
Textile..
I
Gas and electric
Gas and electric
(operating)
(holding)
Communication (cable, tel. & radio)..
Miscellaneous utilities
Business and office equipment..
Shipping services.
Shipbuilding and operating.
;
Leather and boots
Tobacco
73 360,191
14 383,602
I..III.III
U. 8. companies
operating abroad
Foreign companies (incl. Cuba & Can.)
Miscellaneous businesses.
July
31
The report
July 4,
37.51
89.01
32 282,079
82.97
69.87
151 367,992
305 292,764
94.87
96.89
94.75
70, 198,507
13 050,642
84.09
82.03
8,786, 421,370
81.08
591, 223.711
99.73
101.38
61.51
105.61
61.62
8, 937,326
2,159 287,611 105.09
97.73
190, 313,424
96.17
108.47
1.102, 233,454 108.50
77.02
433 851,168
78.53
21 650,000 108.25
107.00
21 653,063
16 854,545
65.77
73.31
105.00
127.41
69.26
70.11
64.43
71.77
4
827,878 104.75
45, 316,724 125.97
257 757,294
71.04
1.157, 342,607 69.27
6,160,000 112.00
5
940,000 108.00
94.78 41.618,750.056
94.24
The following table,
compiled by us, gives a two-year
comparison of the total market value and the total average
price of bonds listed on the Exchange:
Market
Average
Market
Value
Price
Value
1934—
July
$
1...
39,547,117,863
39,473,326,184
39,453,963,492
38.751,279,426
39,405,708,220
39,665,455,602
Aug. 1___
Sept. 1...
Oct.
1...
Nov. 1...
Dec
1*..
was
Average
Price
1935—
$
90.80
Aug.
89.79
Sept. 1...
88.99
Oct.
1...
39,457,462,834
39,061,593,570
38,374,693,665
38,170.537,291
38,464,704,863
1...
88.27
Nov. 1...
89.39
Dec.
1...
91.71
90.54
89.93
90.24
Value
of
Listed
Stocks
1...
As of Aug. 1, 1936, New York Stock Exchange member total net borrow¬
ings on collateral amounted to $967,381,407.
on this date, was
Member borrowings are not broken down to separate
listed share collateral from those on other collateral; thus
1.79%.
those only on
these ratios usually will exceed the true relationship between
borrowings
all listed shares and their market values.
on
As of
July 1, 1936, the Stock Exchange member total net
borrowings on collateral amounted to $988,543,241.
The
borrowings toJhe* market value
of all listed stocks, on that date, was therefore
1.94%.
In the folio-wing table listed stocks are classified by leading
industrial groups with the aggregate market value and aver¬
age price for each:
ratio of these member total
91 08
1...
90.73
Feb.
1...
91.30
Mar. 1...
91.29
Apr. 1...
May 1...
39,398 759,628
40,347 862,478
90.69
June
1...
39,648 252,468
93.83
Auto and accessories
90.62
July
1...
Financial
91.62
Aug.
1__.
41,618, 750,056
41,685 ,172,818
94.24
39.864. 332,759
94.78
Chemicals
May 1...
1...
89.49
40,624 571,422
41,807, 142,328
41,524 856,027
93.59
Market
Aver.
Market
Aver.
94.44
Value
Price
Value
Price
94.47
93.90
$
5,022,868,811
1,374,266,859
6,119,123,022
668,706,939
1,842,684,099
3,280,130,379
Drop of $21,161,834 in Outstanding Brokers' Loans on
New York Stock
Exchange During July to $967,381,407 July
31—Loans
Increased
$198,446,659,
However, as Compared with July 31, 1935
*
>
Outstanding brokers' loans
the New York Stock Ex¬
on
on
the total for June 30 of
a
end of
the
year ago
July this
$988,543,241.
However,
as
compared
(July 31, 1935) the loans outstanding at the
year
represent
figure for July 31, 1935
increase of $198,446,659;
an
was
reported at that time
at
$768,934,748.
Of the loans
outstanding on July 31, 1936, $571,304,492
were demand loans and
$396,076,915 time loans, both below
the June 30 total, but
higher than the figure a year ago. The
demand loans on June 30 amounted to
$581,490,336 and on
July 31, 1935 totaled $419,599,448; the time loans on the
earlier dates amounted to,
respectively, $407,052,915 and
$349,335,300.
The report of the Exchange for
July 31 was made avail¬
able
as
follows:
Farm machinery
Land and Realty
Machinery and metals. s-s,
Petroleum
Paper and publishing..
Retail merchandising
Railways and equipments
Steel, iron and coke
Communications (cable, tel. & radio).
Miscellaneous utilities
....
Aviation
Business and office equipment
Shipping services
Ship operating and building
Miscellaneous businesses
Leather and boots
Tobacco.
Garments
U. S. companies operating abroad
Demand
Time
collateral from New York banks
$534,033,292
collateral from private bankers,
brokers, foreign bank agencies or others in the
City of New York..
„
$390,984,915
on
$571,304,492
_
The scope of the above compilation is
a
72.35
22.83
9.12
37.45
32.92
29.97
23.89
41.31
45.19
54,066,925,315
1,789,736,830
30,168,154
728,455,183
1,133,474,378
29.65
40.30 50,912,398,322
38.00
24.85
30.27
67.49
31.62
23.55
Market
exactly the
month ago.
July
1
Aug.
1
Sept.
1
Oct.
1
same
as
Dec.
5,092,000
1
Average
Market
Average
Value
Nov. 1
37,271,200
Combined total of time and demand borro wings....
Total face amount of "Government securities"
pledged as collateral
for the borrowings included in Items (1) and (2) above..
report issued by the Exchange
50.05
37.17
$
4,775,355,834 44.46
1,312,152,617 22.97
5,697,095,247 70.13
628,719,284 35.95
1,578,048,715 42.87
3,191,908,131 36.20
384,048,121 41.18
853,564,246 75.92
314,000,889 20.59
8.66
43,238,766
1,937,791,794 35.38
1,762,273,056 30.27
5,460,887,971 28.74
376,666,846 22.45
2,464,128,882 38.84
4,779.405,005 41.24
2,225,537,762 52.14
239,923,156 22.44
2,286,840,814 32.79
1,771,820,803 18.23
3,801,697,529 100.08
228,821,619 27.48
263,565,589 13.12
421,165,413 38.27,
8.92
18,693,399
47,078,938 15.54
124,454,354 21.72
241,678,997 38.40
We give below a two-year compilation of the total market
value and the average price of stocks listed on the
1934—
companies
(2) Net borrowings
768,731,666
1,156,631,161
Foreign companies (incl. Can. «fe Cuba)
collateral,
business, July 3i[
The detailed tabulation follows:
on
75.12
38.11
2,396,835,154 56.07
252,081,198 23.58
2,493,953,129 35.76
1,930,844,689 19.87
3,881,847,461 103.48
236,160,089 28.35
324,513*433 15.75
443,619,928 40.09
19,036,394 i 9.09
48,734,290 16.09
128,655,550 22.46
244,888,032 38.91
1,836,713,082 69.27
31,241,056 32.75
Textiles.
Gas and electric (operating)
Gas and electric (holding)
All listed stocks..
23.98
Exchange:
,
1936, aggregated $967,381,407.
or trust
813,412,764
348,508,503
45,555,242
2,086,848,389
1,917,095,618
5,695,991,303
400,870,180
2,620,648,925
5,236,883,948
Amusements
New York Stock Exchange member total net
borrowings on
contracted for and carried in New York, as of the close of
(1) Net borrowings
42.76
Rubber and tires
Mining (excluding iron)....
July 31 amounted to $967,381,407, the Exchange
announced on Aug. 4, which figure is
$21,161,834 below
with
Foods
46.72
398,844,022
Building
Electrical equipment manufacturing..
change
July 1, 1936
91.85
June 1
l...
The ratio of these member
borrowings to the market value of all listed stocks,
therefore
July
Apr.
Stock
Aug. 1, 1936, there were 1,199 stock issues aggregat¬
1,341,445,972 shares listed on the New York Stock
Exchange with a total market value of $54,066,925,315, the
Exchange announced on Aug. 4.
This compares with
1,194 stock issues aggregating 1,339,679,670 shares listed
on the Exchange
July 1 with a total market value of $50,912,398,322, and with 1,174 stock issues aggregating 1,307,662,401 shares with a total market value of $38,913,092,273
on Aug. 1, 1935.
In making public the Aug. 1 figures, the
Exchange said:
40,659, 643,442
41,064, 263,510
41.111, 937,232
40,360, 681,526
40,147, 199,897
39,617, 835,876
Mar. 1
York
ing
Aug. 1, 1936
Jan.
1...
New
89 85
1935—
Feb.
on
As of
1936—
Jan.
given in these columns of
Stocks
69.72
92.35
86.47
41,685,172.818
_
for June 30
32.
Exchange Aug. 1, $54,066,926,315, Compared with
$50,912,398,322 July 1—Classification
of
Listed
total
All listed bonds.......
page
Market
92.31
39,973,519
publishing" III III"! HI I
Apr. 30...
June 30
32 450,280 122.40
259 379,911 102.46
150 986,483 105.97
151,757,786
443,772,446
72,023,502
13,419,687
8,760,929,151
516,309,340
8,920,830
2,134,307,021
193,395,699
1,101,726,055
403,484,233
21,400,000
22,103,518
16,883,401
4,839,400
45,834,586
244,776,740
1,172,567,691
I".
"~<itroleum
tper and
34,329,210 129.77
261,183,050 103.51
151,167,756 106.10
93.18
74,063,093
12,169,443 48.99
I_IIII_I__II
Land and realty...
29
Mar. 31....
May 29
S
United States Government..
31
Feb.
Price
Value
Price
$38,913,092,273
39.800,738.378
40,479,304,580
43.002.018.069
44.950.590.351
$29.76
46.945,581.555
50.164.547.052
35.62
1935—
-
$34,439,993,735
30.752,107.676
32,618,130.662
32.319.514,504
31.613,348,531
33,888,023,435
$26 60
Jan.
Feb.
1
Sept
1
24.90
Oct.
1
24.61
Nov.
1.....
Dec.
1
24.22
25.97
1935—
1
Aug
23.76
30.44
30.97
32 90
34.34
1936—•
Jan.
1
1.
35,933,882,614
32.991,035 003
25 99
Feb.
1
25.29
Mar. 1
51.201 637.902
38.61
Mar. 1
32 180.041,075
24 70
Apr.
1
1
38.85
Apr.
23 73
36,086,570
May
1
May
1
30.936,100,491
33,548.348,437
25 77
June
1
in the loan
June
1...;.
July
1
l
34,548.762,904
36,227,609,618
26 50
July
27.78
Aug.
l
51.667,867.515
47,774,402.524
49.998,732.557
50,912,398.322
54,066,925,315
$396,076,915
$967,381,407
37.98
35.74
37.35
38.00
40.30
844
Financial
Chronicle
Aug. 8, 1936
•
u
.
Registration of Stock Dividends Held Unnecessary by
General
Counsel
Does
tion
Burns of
Constitute
Not
Where
SEC
Commission has given
confidential treatment to correspond¬
ing information in the latest statements of the same company
filed under the Securities Exchange Act of 1934.
Under the other change prospectuses and newspaper
prospectuses need not include the consents of directors which
are required in the registration statement.
The amendment
also permits the omission from the prospectus of the under¬
taking, required in the registration statement, that the
issuer will furnish supplementary and periodic information.
Sale—Requirements
a
Form A-2 under the Securities Act of 1933 provided the
on
Distribu¬
Applicable to Securities Later Offered in Lieu of
Cash Declaration
An opinion of its General Counsel, John J. Burns, con¬
cerning the application of the registration requirements of
the Securities Act of 1933 in the case of a dividend payable
either in cash or securities at the election of the stockholder,
was made public by the Securities and
Exchange Commission
on July 29.
The General Counsel stated that in his opinion,
if a corporation by single action of its board of directors
declares a dividend payable either in cash or in securities at
the election of the stockholder, neither the declaration of
the dividend, nor the distribution of securities to stockholders
who elect to take the dividend in that form, constitutes a
sale within the meaning of the Act, and that consequently
no registration of the securities so distributed is
required
under the Act.
The opinion indicates, however, that if a
corporation should declare a cash dividend, and should
SEC Extends Period in Which Securities of
of
Governments
Foreign
Temporary
Are
Exempt
Nations
from Registration
Securities and Exchange
The
July 30
Commission
announced on
extension of the period within which exemption
is granted of securities of "any foreign state that is pres¬
ently governed by an interim government which is holding
office temporarily and which is to continue to hold office
an
thereafter offer to the stockholders securities in lieu of the
only until the assumption thereof by a regular government
cash to which they would be entitled under the previous
which has been elected."
declaration, the offering of such securities would be regarded
as involving a sale, and such securities would therefore be
subject to the registration requirements.
The opinion by Mr. Burns follows:
amendment to Rule AN21, the
As I understand the situation, the company proposes to declare
a
securities will be exempt to
including the 135th day following the assumption of
office by the permanent government.
Previously the ex¬
and
emption
share of common stock for each share of common stock held.
a
stockholder
entitled to
be
will
elect
whether to
accept the
♦
Chicago Board of Trade to Vote Next Week
to Change Trading Hours
Each
dividend in
cash
or
tion
Chicago Board of Trade will vote on Aug.
proposal to change trading hours for all commodities
excepting cotton, it was announced by the Board on July 29,
and distribution, and as to the nature of the rights of stockholders
who fail to take affirmative action to express their election.
of
information
regarding
these
details,
important
I
12
In the absence
can
answer
your
or not
added:
registration is required in such
dependent upon whether the offering is of such
it
a
"sale",
As you are aware, this definition is extremely
"attempt
every
value."
offer
or
a
as
as
or
of
The
as to constitute
broad in its
.
.
.
a.
for
right would in
though
my
term should be
If
under ordinary circumstances the waiver of
a
stockholder, to whom alternative rights have been granted without
consideration, in electing to exercise one such right, even though, uiider the
terms of the grant,
action of its board of
Consequently, if
directors, declares
of the stockholder in cash
or
Board
registration of the securities
so
my
understanding it is well settled in general law
a
cash
^dividend
out
Of surplus,
""
the rights of
creditors
of
the
corporation,
and
divested of these rights by subsequent action of the board
cannot
of directors.
received.
Under these circumstances
I
believe that the securities might well be held to be the subject of a sale.
Rules
as
Directors
to
Named
Statements Where Name Is Not
Consent
A
to
Use
of
Name
Must
of
Registration
Signed Thereto—
Be
Filed
therein
About to Become Directors
as
being
or
about to become
or partner,
a
or
person
State¬
or
involves
hardship
on
to
as
set
a
its
resolution
was
opening time
as
exchanges
At
in Minne¬
passed petitioning the Chicago
near to 9:30 a. m.,
(Central
possible.
may
statement
registrants,
approximately
the registrant.
All
sale for
be omitted
consents
follows:
May, 1936
June,
1935
con¬
$70,433,000 $12,075,000 $21,540,000
12,196,000
7,634,000
669,000
41,000
20,269,000 19,560,000
5,59 7] 66o
34,061,000 17,919,000
83,000
"573',000
July 30 the SEC further noted:
of the month's registrations was for fixed-interest bearing
were, as in both April and May, 1936,
as
Their securities comprised 44.3% of total
against 37.7% for the utility companies which
were second
were
cash
for seasoned companies)
for
the
account
were
(almost
proposed to be offered
of the registrants.
About 75%
of the
proceeds after the payment of commissions, discounts anid other expenses,
was
proposed to be used for repayment of Indebtedness, chiefly through
refunding operations.
Among the large issues for which registration statements became fully
effective during the month were:
The Texas Corp., $60,000,000 3M%
filed
and list of consents, if any, filed pursuant to Rule 670.
as
$137,618,000 857,212,000 $27,710,000
99% of which
for
by the regis¬
pursuant to this rule shall be attached after the signature page of the
registration statement and immediately foUowing the consents of experts
on
analysis
an
After deduction of securities which were reserved for
conversion, options,
&c., securities registered for the "account of others," and securities to be
establishing that the obtaining of such consent is impracti¬
undue
exchanges will fix their winter
exchange vote is announced.
offered for other than cash consideration, $385,822,000 of securities
trant, supported by an affidavit or affidavits, setting forth the reasons for
cable
and closes at
in importance.
performing similar
Any such consent, however,
a
the
registrations
Partners.
director,
if there is filed with the registration statement
such omission and
time)
Almost 62%
the written consent of such person shall be filed with
the registration statement.
m.
securities, and the chief registrants
If any person who has not signed the registration statement is named
functions,
Trade
the manufacturing companies.
adopted by the SEC:
or
of
In its announcement of
impracticable to obtain
the Commission said, an affidavit to that
Rule 672—Written Consents of Persons Named in the
Registration
Being
grain
Chicago
Total.
effect must be filed with the statement.
The following is the new rule
as
western
Registered for the "account of others"
i
To be Issued In exchange for other securities.
To be Issued against claims, other assets, &c_
his written consent to the use of his name must be filed with
the registration statement.
If it is
ment
central
Reserved for the exercise of options
Reserved for other subsequent issuance
Exchange Commission on July 30, providing that
any person who has not signed the registration statement
named therein as being or about to become a
director,
consent,
other
Reserved for conversion of Issues with
vertible features
new
such
of
June, 1936
ities and
if
a.
country are expected to return to normal time stand¬
in
rule with respect to registration statements filed
under the Securities Act of 1933, was
adopted by the Secur¬
is
at 9:30
opens
,
stockholders electing to take securities would in my opinion be
regarded as
SEC
now
of statements registered under
the Securities Act of 1933 indicates that
during June securities
with estimated gross proceeds of $523,439,000 were declared
fully effective.
This compares with $319,319,000 during
May, 1936, and $192,631,000 during June, 1935.
Included
in the amounts for June and May of this
year and June of
1935 are securities which have been registered but are in¬
tended for purposes other than cash sale for the account
tunity to waive their pre-existing and vested right to payment of the
dividend in cash, and to receive the dividend in the form of
securities, the
so
commodity
hours will become effective Sept. 28, the date when
new
of the
July 30 that
be
If, therefore, there is declared a cash dividend payable to all stockholders,
and if the board thereafter determines to grant to stockholders the
oppor¬
giving value for the securities
for
(Eastern Stand¬
m.
The Securities aud Exchange Commission announced
the
holders of the stock in respect of which the dividend is declared
acquire
immediately
hours
p.
Registration of 104 New Issues Under Securities Act
Totaling $523,439,000
Effective
During
June—
11
Reorganization
and
Exchange
Issues
Also
Effective During Month
dis¬
tributed would be required under that Act.
the public declaration of
until 2
plan is accepted, will be from 10:16
neither the declaration of the
the dividend in that form, would in my opinion constitute a sale within the
However, according to
sections
apolis, Tuesday (July 25),
dividend, nor the distribution of securities to stockholders who elect to take
no
The market
m.
m.,
a.
new
dividend payable at the election
a
in securities,
meaning of the Securities Act, and
upon
adopted the
Standard
corporation, by simultaneous
a
10:16
meeting of representatives of six midwestern grain
a
such election will have the effect of causing the lapse of
the right not exercised.
p.
trading after the result of the
comprehending within its meaning the action
as
from
trading
m.
Members
opinion constitute "value," I do not believe that that
regarded
cotton
.
fix
to
ards.
of a
that
p.
other
even
proposal
a
(Eastern Standard Time) with the exception of Saturday, when
operations are halted at noon.
claim.
However,
than
on
Saturday hours, of the
to 12:30
m.,
1:15
but should in my
property, but also the waiver or surrender of
or
..
be
will
vote
ard Time).
scope, and includes
security
a
...
"Journal of Commerce" of July 30, which
V.
• \
.
futures other
(3) of the Securities Act.
including not only such ordinary forms of considera¬
the transfer of cash
right
character
a
"value" is not defined in the Act,
The term
opinion be regarded
tion
dispose
to
is of course primarily
a case
that term is defined in Section 2
as
on a
said the Chicago
question only in a general maimer.
Whether
Proposal
on
Members of the
Your letter is silent as to the mechanics of the declara¬
in stock.
for only 75 days.
was
divi¬
dend upon its common stock in the amount of one dollar in cash or one-tenth
of
Under the extension, which is an
•
debentures, due 1951; Consolidated Oil Corp., $50,000,000 15-year 3h%
8. f. convertible debentures, due 1951;
Niagara Falls Power Co., $32,493,o6o
first
&
SEC
Adopts Two Amendments to Requirements for
A-2—Prospectuses Need Not Include Con¬
Form
sents of
Directors—Data
on
Gross Sales Eased
Two amendments to the instruction book for Form
A-2,
under the Securities Act of 1933, have been adopted
by the
Securities and Exchange
Commission, it was announced on
One of the amendments provides that information
as to gross sales and cost of goods sold
may be omitted from
the financial statements in a registration statement filed
July 30.
i
and refunding 3H% mortgage bonds, due 1966; "Wisconsin Power
Light Co., $32,000,000 first mortgage 4% bonds, due 1966; Wisconsin
Public
Service
Corp.,
$25,000,000 first
mortgage
4%
bonds,
due
and Oklahoma Natural Gas Co., $20,000,000 first
mortgage 4M%
due 1951.
1961,
bonds,
Types of New Securities Included in 59 Registration Statements Fully Effective
During June, 1936
Fixed-interest bearing securities totaled 61.9% of the gross registrations
during June, 1936, against 58.0% in May, 1936, and 79.4% in June, 1935.
The
debenture
issues
(included in
these fixed securities)
31.3% of the total registrations and amounted to
more
accounted
for
than $164,085,000—
the highest total of the debentures registered during any month to date.
Volume
financial
143
So, too, was the case with preferred stock issues which, at $77,317,000,
traditional
represented 14.8% of the total registrations and were the highest amount
of preferred stocks registered
during any one month.
Common stock
the
issues represented
23.0% and securities of participation, beneficial interest;
&c., reflecting the absence of investment trust issues in large numbers,
accounted for
0.3% of the June total.
845
Chronicle
through
manner,
No. of
Issues
+■
June, May. June,
1936 1936 1935
Amount
NO. of
Units
(in Dollars)
Common stock
40
Preferred stock
19
9,179,379,0 120,486,606
i
1,324,649
77,317,000
10
2,816,653
Certificates
Secured bonds
27.8
9.9
United States
18.3
14.8
2.3
The
14
Short term notes
1
Total.
0.3
4.3
24.8
64.1
31.3
33.0
14.8
der the present Social Security Act, is destined to double by
1950, and unless national income expands from the present
0.1
0.2
0.5
$50,000,000,000 to at least $90,000,000,000, the United States
523,439,405 100.0 100.0 100.0
104
The Commission said that in addition to the
securities
new
registered in connection with contemplated
exchanges of registrants' securities for their own or their
predecessors' securities, and in connection with the issuance
of voting trust certificates and certificates of deposit, 11
issues through nine statements during June.
These regis¬
tered statements covered securities having
approximate
values of $32,357,000.
The following tabulation was also
made available by the Commission:
were
THE TYPES OF SECURITIES INCLUDED IN 9 REGISTRATION STATE¬
MENTS FOR REORGANIZATION AND EXCHANGE* ISSUES WHICH
BECAME FULLY EFFECTIVE DURING JUNE, 1936
No.
Type of Security
Par
of
possibility of another devaluation within
This is the conclusion of Young & Ottley,
Inc., New York, investment managers, as analyzed in "Mer¬
chants of Debt," a comprehensive survey of the changing
character of American banking and its effect on securities,
recently published in book form
by that organization.
W. von Treschow, a member of the staff of Young &
Ottley,
Inc., and author of the work, has long been prominent in
the next 10 years.
banking circles.
In its discussion of national
income, taxation and devalua¬
tion, the study points out that at the present time total tax
collections are more than $9,000,000,000 as against $1,600,000,000 around the beginning of the century.
This means
June, 1930 May, 1936 June, 1935
Common stock
1
Certificates
of
$278,334
$44,116
$5,531,250
1
Preferred stock
97,963
beneficial interest, &c
1
$110,532
7,965~370
2,656,123
~5
2,831",856
2,262*375
3
7,721,066
944^692
Voting trust certificates
and
demand
151666
Short-term notes
Certificates of deposit
1932, when taxation had reached
21,871,760
546",867
179,734
1,507,160
*
11
Refers to securities
exchange for
burden
grew
than 20%
more
that
onerous
so
of national income,
devaluation
a
the
of
proved
existing securities.
** Re¬
presents actual market value or 1-3 of face value where market was not available.
for
devaluation
to
it
has
taxation
Analyzing the
375,000
$32,357,352 $2,788,065 $1,200,201
Issued In
to be
debt
expedient—when
years,
Total
the
politically expedient.
Examining the record of France,
Germany and Great Britain, as related to taxation and national income,
it is found that
approximately the same thing has been true.
A popular
36,844
"I
Debentures
In
taxes
currency
participation,
Secured bonds
national income that has increased only about
a
three times during this period, more than six times as much
must be paid in taxes.
The following is from the survey:
Amount
Issues
is faced with the
that out of
Approximate Market Value**
-
Destined to Double by 1950
are
country's tax burden, including levies to be made un¬
30.5
1,300,000
159,700,070
164,085,729
550,000
14
„
Debentures
there
23.0
Possibility of Another Devaluation of Dollar in Next
10 Years Seen by Young & Ottley—Says Taxes in
of
participation,
beneficial int., warrants, &c__
in
The 50% increase in reserve requirements of member
banks, effective Aug. 15, announced on July 14 by the
Board of Governors of the Federal Reserve System, was
referred to in our July 18 issue, page 356.
% of Total
Gross
Type of Security
securities
government
of
the. purchase
market.
open
of
curve
appears
arisen—or
exceeded
least
at
20-23%
taxation
in
the
devaluation
become
has
the national income.
of
United
States
for
that taxes may reach an annual total of
the
past
15
$12,000,000,000
$14,000,000,000 by 1950 without the Social Security taxes.
Including
Security taxes, according to the present law, tax collections may
Social
reach
$17,000,000,000 to $19,000,000,000
practically
mean
doubling of
a
the
per
year
national
by
1950.
burden
tax
This would
the
in
of
space
14 years.
Comments by
National City Bank on Increased Reserve
Requirements of Member Banks of Federal Reserve
System—Holds Increase Not a Final Answer to
Inflation—Keeping of Government Expenditures
Sound Credit Conditions
mopping
"Raising reserve requirements, and consequent
of a portion of the excess reserves, while an important
step in the direction of credit control, is not, of course, a
final answer to the question of inflation," it is observed by
up
the National
City Bank of New York. "Even with the new
requirements in effect," the bank states, "the Re¬
reserve
Board
serve
the
it
has calculated that
neighborhood
now
overestimated,
excess
$1,900,000,000;"
of
that this figure
appears
surplus
it adds
certain
are
be
in
"while
that
have been somewhat
may
reserves
will
reserves
be
to
far
in
of
anything known prior to the past two years, and
capable, if drawn fully into use, of supporting a very large
expansion of credit." Continuing, the bank, in its "Monthly
Letter" for August, says:
excess
Should
silver
be
they
the total of
fund,
by
augmented
seigniorage and
by the
excess
the
issuance
utilization of
might
reserves
of
against
currency
gold held in
the
the stabilization
rise to levels higher than
easily
before.
ever
It is to be considered
will
have
the
time,
proper
that while the Reserve
themselves
put
in
authorities, by their action,
better position
a
actually their
freedom
of
to
credit
exert
operation
will
control
be
at
influenced
by the status of the Federal budget.
If the budget is
necessitating the repeated raising of new funds by the Treas¬
extremely unlikely that sales of government securities by the
largely
very
unbalanced,
it
ury,
is
Federal Reserve banks for purposes of
the
to
this
of
tightening money will prove feasible.
problem of maintaining sound credit conditions comes back
the
Therefore,
problem of keeping government expenditures within income.
be
can
themselves,
In
reasonable
a
be
reserves
those
reserves,
and all
be
overlooked
be
also
of about 8%
less.
Reserve
times when
cannot,
that
not
possible
Under
upon
words,
only
will
expansion
the
the
on
present
the
increases
the ratio
of
basis
rules
expansion
funds have been in
or
decreases
in
deposits than before.
whether
reserves,
will tend to be less
This should be
of
of
requiring
demand
deposits to
demand, has
been
in
due to gold movements
productive of violent
an
fluctuations in
influence making for
stable
more
on
no
disturbance.
Board,
few
banks
which
requirements
able
of
some
onerous
to
of
raise
the
either
Such
funds
securities.
are
in
a
given
distributed,
position to
the
out
and
by
there
meet the
Reserve
the
find
themselves
borrowing
as
new
could
may
the
are
possible
a
income
by
1950.
annually to
However,
recession
of
income,
increase
at
a
should
rate
to
that
some
maintain
to
due
a
recurring
would
reach
$100,000,000,000 annually by 1950.
A national
than
.over
$100,000,000,000 would!
mean
an
increase of
more
over the low point of 1932, and an increase of almost
20%
peak of $83,000,000,000 in 1929. This increase of income required
the Nation's potential tax bill seems out of proportion with present
to pay
and
prospects,
next
income of
100%
the
10
points
years,
certainty
unless
with
the
to
violent
there
is
a
possibility
fluctuations
decided
of
in
change
another
the
in
price
devaluation
of
all
government
in
the
securities
a
policy.
Tracing the relationship of bonds to deposits for the past
Ottley, Inc., point out that in 1834 bonds
were only 6% of
deposits, but by 1867, at the end of the
100 years, Young &
Civil War, this ratio had risen to
82%.
For practically 25
thereafter, it is pointed out, the trend was found to
be downward, then stabilized itself between
25% and 30%
of the period 1892-1917.
Since that time, it is stated, there
years
has been
slow but steady upward trend in the
proportion
a
of bonds to deposits,
culminating with the spurt during the
past five years which lifted the ratio from 30% to 47%.
The trend of strictly commercial loans as
against all loans
has actually been generally downward since
1915, the study
reveals, but this trend was hidden because of the great
volume of collateral loans that developed in connection with
the active security markets after the war.
Recent
legisla¬
regulations, it is observed, indicate that security
loans in the future will be much less
important to banks
than in the past.
tion
and
♦
Kansas
City Clearing House Association Lowers Maxi¬
2 to
Rate
of
Interest
on
Savings Accounts from
1V2%
At a meeting held July 29 the executive committee of the
Kansas City Clearing House Association reduced the maxi¬
mum rate of interest payable on
savings accounts from 2 %
to 13^%The new schedule will be effective at next interest
paying date of each bank and will vary according to the bank,
said the Kansas City "Star" of July 29, which added:
This does not
mean
that banks
are
required to pay 1H %. but represents
the maximum rate permitted— In many instances banks
than 1H %.
The action
relieve
the
Resources
was
are
paying less
in line with recent reductions of
Chicago and
with
by disposing
generally
situation, in the
of
OHio
State
Banks
Increased
During
Quarter Ended June 30, According to Analysis by
State Superintendent of Banks Samuel H.
SquireGain in Deposits also Noted
Samuel
H.
reserve
or
cramped should!
or
regulations be found to be
easily
Reserve
relatively
increased
Federal
and cheaply by
easily
banks
information
balances with
few banks
Should
Reserve
to
widely
not be
will
out
correspondents.
be
According
reserves
excess
national
for
Repercussions Aug. 15
much interest exists as to what effects, if any, may be felt
the money market when the new reserve regulations go into
operation
Aug. 15.
In general, the opinion prevails that there will be little or
Naturally,
in
approximate $50,000,000,000
$90,000,000,000
St. Louis clearing houses.
credit conditions.
Possible
present
or
margin
excess
Under the new rules, with reserves averaging
12%, the theoretical expansion will be nearer to 8 to 1.
In other
other causes,
or
the
comfortable
mum
the credit situa¬
neighborhood of 12 to 1.
close to
from
Unless
banks
(taking account of both time and
classes of banks),
normal
in
not
will
remain
reserves
deposits
the
of the new regulations
but the ratio of
reduced,
that
average
should
fact
the
period
provide adequate safeguards against inflation.
estimating the effects
tion,
the
within
done
increases
$80,000,000,000
depressions,
Essential to Maintenance of
Income Held
Within
According to past experience, this huge burden can be borne without the
threat of a strong popular demand for devaluation
only if national income
Squire, Superintendent of Banks of Ohio, in.
on July 28, an analysis of the reports
making available,
of 468
State chartered banks of Ohio
as of June 30,
pur¬
call, said that "between the calls of March 4,
1936, and June 30, 1936, combined resources of reporting
banks increased $62,472,183, due
principally to Increases
suant to his
Financial
846
combined
099,654
significantly
Combined
$1,368,871,626
were
and
$1,221,771,972
with
$1,138,441,656
Individual
1935.
banks
June
on
$1,306,899,443
in one
June
on
and
1936,
30,
June
on
were
29,
$380,942,693]
on
$302,607,520,
1935,
29,
Cash
30,
discounts
on
June
$485,883,106
with
compared
June
a
on
1936,
4,
1936,
and
$488,524,992
were
March
as
$493,770,124
on
1935.
and
reserve
June
on
30,
1936, totaled
$238,135,659
compared
as
respectively.
these dates
Real
rediscounted,
bills
and
Notes
were
bills
payable,
and
bonds
borrowed
on
$289,261, $309,748, and $636,129, respectively.
were
$251,104,085, $256,168,897, and $266,075,659,
loans
estate
C.._.
Villisca, Iowa
City Nat. Bank, Huron, S. Dak.*_
First National Bank, Rockport, Ind
Sioux Nat. Bank in Sioux City, la.
First National Bank, Bruin, Pa.a.
Noble
County
National
Bank,
Caldwell, Ohio*
Bank
to
June
June
1936,
by
A report as to
during June
1936,
30,
June 29,
(United States Government
$64,027,202 from June 29, 1935,
$57,145,066
with
compared
as
March
on
on
and
1936,
4,
June 29, 1935.
on
$2,427,950,
$2,609,900,
June
29,
1935.
Undivided
$8,740,171,
All
these
on
reserves
from March
dates
$10,820,245,
were
(Undivided
respectively.
to June 30,
1935,
and
"
profits
1936, and
profits
$10,566,241,
and
June
29,
increased
from
It
a
decrease of $384,997 from June 29, 1935.
$80,000,000 Reported in Savings Deposits in
Chartered Banks During Year Ended
June 30—Dropped $22,000,000 During June
Savings deposits in
June 30 amounted to
the chartered banks of
Canada
on
$1,504,792,828, the banks reported to
the Canadian Minister of Finance
as
as
compared
with
against the bal¬
for June
30, 1935. In noting this, Canadian Press ad¬
Ottawa, July 27, to the Montreal "Gazette" of
July 28, also said:
deposits
$76,000,000
over
outside
increased
$43,000,000
compared with May 30 and
the balance at June 30, 1935.
Call loans both in Canada
slightly
were
increased,
as
but
loans
current
$42,000,000 compared with the previous month
June 30, 1935.
Government
$23,000,000
and
greater
other
than
securities
on
in
May
the
30
hands
andl
of
in
and
Canada
chartered banks
$350,000,000
greater
were
than
,
The summary:
were
$74,000,000 less
before.
a
.
.
June
30, 1936
$132,750,000
Note circulation
123,245,784
Demand deposits
621,702,828
Notice deposits
1,504,792,542
Deposits outside Canada
*389,256,139
Bank of Canada notes
34,934,408
Deposits with Bank of Canada
189,463,016
Government and other securities.. 1,368,157,725
Call loans in Canada90,917,719
Call loans outside Canada
64,422,009
Current loans, Canada
657,429,289
Current loans, outside Canada
150,026,473
Reserve fund
.......
....
_
Oct.
Apr.
54.85
62.82
73.48
70.333
72.68
71.025
53~43
77" 58
43.65
61.89
107.7152
89.96016
banks and the
Eastern Standard Time
that day, to the offering of $50,000,000 or thereabouts of
273-day Treasury bills dated Aug. 5, 1936, and maturing
May 5, 1937.
Of this amount, Mr. Taylor said, $50,019,000
was accepted.
Reference to the offering was made in our
issue of Aug. 1, page 671.
The following is from Acting Secretary Taylor's announce¬
ment of
to 2 p. m.,
Aug. 3:
about 0.210%
99.825
99.841, equivalent to
99.818, equivalent to
per annum, to
a
a rate
of
rate of 0.240% per
Only part of the amount bid for at the
bank discount basis.
The average price of Treasury bills to be issued
and the average rate is about 0.230%
per
annum
on
a
bank
discount basis.
The average rate
of 273-day
of 0.230% compares with rates on recent
bills of 0.224% (bills dated July 29),
0.115% (bills dated July 22), 0.071% (bills dated July 15),
0.067% (bills dated July 8), and 0.191% (bills dated July 1).
issues
Offering of $7,000,000 of l1/£% Consolidated Debentures
by Federal Intermediate Credit Banks—Issue Over¬
subscribed
lty% consolidated
debentures approxi¬
Aug. 4 by the Federal,
Intermediate Credit bank system, and the books to thei
offering were closed the same day following an over-sub-!
scription, it was announced by Charles R. Dunn, fiscal
agent for the banks. The debentures, which are the joint
and several obligations of the 12 Credit banks, were priced
at a premium over par value.
They are dated Aug. 15 and
will mature in six months.
It was said that the l^sue is
A
issue
new
of
$7,000,000 was offered
mating
on
,
almost
May 30, 1936
June 29, 1935
$132,750,000
123,371,431
578,298,032
1,526,915,696
y390,805,383
34,282,576
185,072,148
1,345,191,994
87,167,995
58,322,836
699,774,131
144,691,129
$132,750,000
129,572,582
545,412,833
1,425,837,190
340,947,203
28,384,370
172,902,147
1,017,918,256
85,237,040
67,451,245
831,032,518
156,451,423
Total liabilities.
$3,124,412,050
$3,099,207,319
$2,899,979,780
Total assets
$3,134,974,694
%3,107,589,701
$2,909,487,377
y
100
from
Current
year
107
99.81
July 27, which figure
on
represents a decrease of $22,000,000
May 30, bftt an increase of $80,0(10,000
than
75.08
102.63
the Federal Reserve
at
thereof up
annum, on a
Canadian
down
94.52
59.333
on Aug. 3 by Wayne C. Taylor, Acting
Treasury, that $169,772,000 in tenders
the
latter price was accepted.
and
53,241
59.85
73.66
announced
was
branches
is
vices
18, 1931
25,
14,
18,
June 10,
Mar.
3,
Dec.
8,
Sept. 25,
Dec.
The accepted bids ranged in price from
Increase of
ance
104.99
60.95
86.63
of
Secretary of
1986, $2,080,074.)
totaled $7,253,943 on June 30, 1936, a decrease of $1,051,602
4,
96,626
131,829
360,116
3,089
208,197
2,529,945
93,540
15,
11,
June 25,
Mar. 19,
Jan.
receiverships of National banks terminated
given in these columns of July 18, page 357.
was
had been received
>59,295,377
and municipal bonds totaled'
county
Federal Reserve bank stock on these dates
$2,573,450, respectively.
Holdings of
other
bonds
and securities totaled $129,348,305
on
June 30, 1936, as
compared with $125,993,511 on March 4, 1936, and $107,160,098 on
$49,526,419
was
1930
1931
1930
1924
1933
1930
1933
July
$169,772,000 Received to Offering of $60,000,000
of
273-day
Treasury
Bills—$60,019,000
Accepted at Average Rate of About 0.230%
1935.
increased
the banks
State,
of
86.0266
♦
Tenders
as
on
1936.)
30,
Holdings
105.833
87.98
appointed to levy and collect stock assessment covering deficiency in
value of assets sold, or to complete unfinished liquidation.
a Formerly in Conservatorship.
States Government securities totaled $287,compared with $248,572,201 on March 4,
United
$223,280,962
held
securities
June
of
30,
holdings
on
and
1936,
100.00
Receiver
respectively.
308,164
$8,766
594,951
57,835
1,407,364
132,392
272,332
182,858
1, 1934
Dec. 30,
Jan. 18,
July
land, Ind
First Nat. Bank, Mullins, S.
First National Bank,
Combined
$63,997,395,
Claimants
New First National Bank in Farm¬
*
$234,136,398 on March 4, 1936, and $204,507,192 on June 29, 1935.
capital on these dates was $64,347,245, $64,407,945, and
with
Unsecured
1931
1932
1929
1932
1932
1931
Radcliffe, la.* Jan.
Station, N. J—
First Nat. Bank, Osnabrock.N.Dak
First National Bank, Sanford, Fla.
First Nat. Bank, Lost Nation, Iowa
Standard Nat. Bank, Chicago, 111..
First Nat. Bank, Veedersburg, Ind.
deposits
and
to All
Creditors
First National Bank White House
Funds on deposit
loans
Paid
Offsets
Allowed
Failure
First National Bank,
by trust departments on June 30, 1936,
were
$31,849,776 as compared with $36,336,614 on March 4, 1936, and
$41,542,210 on June 29, 1935.
"All other deposits" were $170,557,733,
$148,901,285, and $139,529,402, respectively.
Total
Dividends
March 4, 1936,
on
year
respectively!.
Per Cent
Total
Returns
Total
1936,
30,
Per Cent
Disburse¬
ments, Jncl.
Date of
Receiverships
March 4, 1936, and $1,055,366,903 on June 29,
on
AND FINALLY CLOSED
DURING THE MONTH OF JULY, 1936
3
1936, were $1,205,876,704 as compared
June 30,
$347,027,023,
1936,
4,
quite
of $78,335,173.
Total savings deposits on these dates
were
$575,653,246, $557,233,316, and $523,383,387, respectively.
Time
certificates on these dates were $46,873,256, $48,943,418, and $48,304,384,
gain
the National banks whose receiverships
are
OR RESTORED TO SOLVENCY
$147,-
June 29, 1935.
Combined deposits on
March
State-supervised
compared with
as
on
following
terminated during July:'
were
condition of the people of this State.
all
of
resources
increased
indicating
deposits
prosperous
a more
Aug. 8, 1936
INSOLVENT NATIONAL BANKS LIQUIDATED
the 468 reporting banks
increased $150,509,801,
of
resources
combined
and
$67,-
1935, and June 30, 1936, a period of one
Between the calls of June 29,
year,
increased
period, combined
deposits
Mr. Squire further reported:
this
435,048."
The
profits, reserves and securities.
"in such items as undivided
During
Chronicle
x Includes
$33,411,118 deposits in Canada in currencies other than Canadian.
Includes $33il46,119 deposits in panada In currencies other than Canadian.
»
.
entirely for refunding purposes. After the trans¬
completed the 12 banks will have approximately
$175,000,000 of debentures outstanding.
action
is
—'—♦
New Offering of 273-Day Treasury
$50,000,000,
or
Bills to Amount of
Thereabouts—To Be Dated Aug. 12,
1936
Tenders to
a new offering of $50,000,000, or thereabouts,
273-day Treasury bills were invited on Aug. 6 by Henry
Morgenthau, Jr., Secretary of the Treasury. The tenders
of
will
be
received
at
the Federal Reserve banks, or the
thereof, up to 2 p. m., Eastern Standard Time,
Monday, Aug. 10, but will not be received at the Treasury
Department, Washington.
branches
The
.
Treasury bills, which will be sold on a discount basis
highest bidders, will be dated Aug. 12, 1936, and will
mature on May 12, 1937.
On the maturity date the face
to the
Liquidation jof 15 Receiverships of National Banks
| i •
1 '' \' |Completed_During July I
\ ] f :
J. F. T. O'Connor, Comptroller of the
Currency, announced yesterday (Aug. 7.) the completion of the liquidation
of 15 receiverships of National banks
during July, 1936,
making a total of 420 receiverships finally closed or restored
to solvency since the so-called banking
holiday of March,
1933.
Total disbursements, including offsets allowed, to
depositors and other creditors of these 420 institutions,
exclusive of the 42 receiverships restored to solvency,
aggregated $118,197,816, or an average return of 74.18%
of
total liabilities,
while unsecured depositors received
dividends amounting to an average of 58.94% of their
claims, the Comptroller said.
He also noted:
Dividend
National
payments
banks
$2,422,781. '
to
•
during July,
the
'<
creditors
•
of
1936,
all
by
active
all
receivers
of
receiverships
insolvent
aggregated
•-
Dividend payments to the creditors of all active receiverships since the
banking holiday of March, 1933, aggregated $733,186,126.
->
amount of the bills will
is
a
be payable without interest. There
maturity of similar securities on Aug. 12 in amount of
$50,017,000.
The following is from Secretary Morgenthau's
of Aug. 6 :
announcement
They
or
(the
No
g.,
on
in
the
99.125.
Tenders
hanks
for
be
must
pressed
and
will
of
be
issued ,in
bearer form only, and in amounts
$10,000, $100,000, $500,000, andl $1,000,000
$1,000,
value).
tender
tender
e.
bills)
denominations
(maturity
amount
multiples
basis
of
Fractions
will
trust
investment
an
in
be
100,
must
accepted
companies
securities.
less
of
than
$1,000
$1,000.
with
not
not
be
and
from
will ..be
considered.
price offered must
than
three
decimal
Each
be
ex¬
places,
used.
without
Tenders
The
more
cash
deposit
responsible
from
others
from
and
must
incorporated
recognized
dealers
be
accompanied by
deposit of 10% of the face amount of Treasury bills applied for, unless
the tenders are accompanied,
by an express guaranty of payment by ah
incorporated bank or trust company.
1
a
Immediately after the closing hour for receipt of tenders on Aug. 10,
1936, all tenders received at the Federal Reserve banks or branches thereof
Volume
will bexopened and public
closingi hour
the
to
up
Financial
143
announcement of the
possible thereafter, probably on
the following morning.
The Secretary of the Treasury expressly reserves
the right to reject any or all tenders or parts of tenders, and to allot less
than the amount applied for, and his action in any such respect shall bef
final.
Those
submitting tenders will be advised of the acceptance or
rejection thereof. Payment at the price offered
Treasury bills allotted
acceptable
availabl
The
follow
Reserve banks
at
funds
the Federal
in
caslKor other immediately
Aug. 12, 1936.
Treasury bills will be exempt, as to
principal and interest, and any
be\exempt, from
til
taxation, except estate and inheritance taxes.
(Attention is invited
to Treasury Decision 4550, ruling that Treasury bills are not exempt from
the gift tax.)
No loss from the sale or other disposition of the Treasury
bills
shall
of its
any
their
deduction,
a
as
tax now
any
or
otherwise
recognized,
hereafter imposed by the United
or
July 29—$9,280 Coin and $122,260 Certificates
the
for
Receipts during the week ended July 29 of gold coin and
certificates
by the Federal Reserve banks
and the Treas¬
requiring all
urer's office under the order of Dec. 28, 1933,
gold to
be returned
Treasury, were in amount of
the
to
$131,539.78, the Treasury announced on Aug. 3. The amount
of hoarded gold returned since the order was issued, and up
to
The Treasury revealed
July 29, totaled $144,447,482.62.
thai
$9,279.78
gold coin and $122,260 gold
was
certificates.
by the Treasury on Aug. 3 are as
The data made available
follows:
GOLD
RECEIVED
FEDERAL
BY
RESERVE BANKS AND
THE
TREASURER'S OFFICES
States
(Under Secretary's Order of Dec. 28,
1933)
possessions.
Circular No. 418, as amended, and this notice
Treasury bills and govren the conditions of
Department
Treasury
prescribe
other disposition thereof will also
or
allowed
be
of
purposes
sale
the
gain from
Ended
$131,540 of Hoarded Gold Received During Week
as
soon
as
on
be made
must
will
prices
847
Chronicle
the
Gold Certificates
Gold Coin
the
of
terms
Received by Federal Reserve banks:
issue.
$9,279.78
31,660,206.84
$117,860.00
109,902,660.00
$31,669,486.62
$110,020,520.00
"268,456" 00
4,400.00
2,484,620.00
$268,456.00
$2,489,020.00
Week ended July 29
Received previously
Treasury Department Cancels Call For Sealed Bids on
Obsolete Tax Exempt Potato Stamps
Issued in
Connection
with
Potato
Control
Act—Stamp
Collectors Said to Have
Announcement
was
Objected to Method of Sale
made by the Treasury Department on
Aug. 2 that the call by the Procurement Division for sealed
on obsolete tax exempt potato stamps, to be opened
Total to July 29.
_
Received by Treasurer's Office:
Week ended July 29.
Received previously
—
Total to July 29
Note—Gold bars
York Assay Office In the amount of
the New
deposited
$200,572.69 previously reported.
bids
Aug. 10, has been canceled.
The Treasury's announcement
added:
represent an issue entirely distinct from
paid potato stamps were offered for sale to collectors, at face value, for a
by the Bureau of Internal Revenue.
At the end of the
have no face value expressed in monetary terms.
The tax exempt stamps
The denominations of the six stamps represent varying
numbers of pounds
exempt.
turned over to the Procurement Division of the Treasury
The Procurement Division,
Department the unused tax exempt stamps.
asking sealed bids,
was
following established practice in disposing of
In view of the unique char¬
property no longer useful to the Government.
acter of this
it
ever,
the Department
'
Stamp collectors, it is reported, voiced objection to the
disposal of the stamps at auction on the ground that it
would place the stamps in the hands of one person, who could
set any price on them he chose.
The stamps were issued
incident to the Potato Control Act, which was repealed
the
after
ounces
Agricultural Adjustment
Act
declared
was
un¬
constitutional.
to
11, 1934, page 858.
The following tabulation
issued by the Treasury Department on Aug. 3:
was
SILVER
I
New York
by pledged securities, will continue.
From Wash¬
ington advices, Aug. 5, to the New York "Herald Tribune"
of Aug. 6, we take the following:
The Credit Corporation also
modities
since
July
announced that sales of the pledged com¬
actually completed or in process,
1,
proximately $34,753,116.94, the cash
Since the date of the notes the market value of the pledged
of noteholders.
it said, and as of Aug. 3
collateral commodities has advanced substantially,
was
aggregated ap¬
received being held for the benefit
$193,219,982.96.
approximately
With
the cash
collateral of $34,-
753,116.94 added, the margin of collateral is approximately 151% of the
authorized issue, it was
As
noted
in
pointed out.
1
«...
New Orleans
«
Seattle-
-
of July 25,
issue
our
page
510, the Com¬
CCC
exempt from Federal Stamp Tax on issuance
are
or
transfer.
Total receipts through July 31,
"Chronicle"
the
The various
week ended
announced
mints and
July 31
by
the
Treasury
a
assay
offices received during the
total of $8,223,596.04 of gold, it
Treasury on Aug. 3.
made
known,
Of
$5,494,417.26
this
was
was
amount,
imports,
The
$352,673.51 secondary, and $2,376,505.27 nevv domestic.
gold was received as follows during the week ended July 31
by the various mints and assay offices:
RECEIPTS
,
1936
---112,962,598.36
___-
during
672, reference was
the previous week
Newly Mined Silver by
Mints and Assay
ended
of
Aug.
transferred
silver
the
to
1,
page
July 24.
♦"
of
Offices from Treasury
Fine Ounces
Purchases Totaled 231,597.43
During Week Ended July 31
tabulation issued by the Treasury on
total of 231,697.43 fine ounces of silver was
turned over by the Treasury Department to the various
mints and assay offices during the week ended July 31.
The silver was from purchases made by the Treasury in
accordance with the President's proclamation of Dec. 21,
According
3,
Aug.
to
a
a
1933, which authorized the Department to absorb at least
24,421,410 fine ounces of newly-mined silver annually.
Total receipts since the issuance of the proclamation, which
was referred
to in the "Chronicle" of Dec. 31, 1933, page
4441,
in
were
of 93,275,557.17 fine ounces.
amount
The
tabulation issued by the Treasury follows:
RECEIPTS OF SILVER BY THE MINTS AND ASSAY OFFICES
Executive
(Under
Week ended July 31,
Proclamation
of
Dec.
21,
1933)
1936:
as
amended
Fine Ounces
Philadelphia
-
224,559.83
7,037.60
San Francisco.
«.
Total for week ended July 31, 1936
Total receipts
The
231,597.43
—.93,275,557.17
through July 31, 1936
receipts of newly-mined silver during the week ended
July 24 were noted in these columns Aug. 1, page 672.
Gold Receipts by Mints and Assay Offices During Week
Ended
July 31—Imports Totaled $5,494,417
the
1,068.08
Total for week ended July 31, 1936
Denver
missioner of Internal Revenue has ruled that the notes of the
936.40
68.00
63.68
— -
San Francisco
Denver
The
secured
Fine Ounces
1936:
Philadelphia
Receipts
Commodity Credit Corp. made known on Aug. 5
the receipt of subscriptions aggregating $71,440,000 from 150
banks and trust companies to the Corporation's offering of
$150,000,000 of series A collateral trust notes, dated July
1, 1936, and maturing Jan. 15, 1937, bearing interest at V2
of 1% per annum.
The Reconstruction Finance Corp. has
not purchased any of the notes.
Previous reference tolthe
offering was made in our issues of July 18, page 363.
Sale
of the authorized but unsold balance of the notes, which are
TRANSFERRED TO UNITED STATES
(Under Executive Proclamation of Aug. 9, 1934)
In
Continue
Since
•
of Aug.
issue
made
$71,440,000 Tendered by 150 Banks to CCC Offering of
$150,000,000 of V2 of 1% Notes—Sale of Securities
metal.
The Order of Aug. 9 was given in ot
States Government.
Week ended July 31,
.
1934, nationalizing the
issued, the Treasury revealed, 112,962,598.36
of the metal have been transferred to the United
was
determined that other methods would be preferable in this
was
3 that
ounces
of Aug. 9,
tive Order
property, and the interest displayed by stamp collectors, how¬
instance.
States
the
During
of silver were transferred during the
ended July 31 to the United States undeF the Execu¬
week
fine
United
to
Treasury Department made known on Aug.
the Order
Under the law governing the disposal of surplus property
in
Amounted to
The
1,068.08 fine
period the unsold tax paid stamps were destroyed.
of Agriculture
was
1, page 671.
Under National¬
Week Ended July 31
1,068.08 Fine Ounces
Order
ization
As the result of requests from collectors the
the tax paid potato stamps.
of potatoes as tax
receipts of hoarded gold
the
to
issue of Aug.
Transferred
Silver
The tax exempt potato stamps
tax
reference
our
disposing of the stamps are being worked out and will bb
New methods for
announced shortly.
limited period,
Previous
made in
OF
GOLD
BY
THE
MINTS
AND
ASSAY
OFFICES
Imports
Philadelphia
New York
San Francisco
Denver
New Orleans
Hyde, Park, N. Y., Home Dis¬
Situation with Secretary Wallace
and C. C. Davis—New England Flood Area Visited
by
President
work
'
$1,824.20
4,038,800.00
1,431,135.44
.13,069.19
i 9,588.43
Secondary
New Domestic
$63,509.73
224,900.00
32,214.66
10,689.74
299,500.00
1,134,278.35
469,206.22
15,553.18
450.56
$357.63
5,806.20
Seattle
472,712.51
$352,673.51
$2,376,505.27
at
Drought
cusses
Laid
En
with James A.
Route
Political
for
from Canada—Ground¬
Campaign at Conference
Farley
Following his return to his
home at Hyde Park (New
1, President Roosevelt has directed his
attention to the drought situation, New England conditions
having been personally inspected by the President on his
York),
on
Aug.
route from Canada to Hyde Park, where
that night.
The President during
his tour of New England talked with the Governors of
Vermont, New Hampshire and Massachusetts, and drove by
trip, Aug.
''
Roosevelt
President
1,
en
he arrived at 10:41 p. m.
automobile almost 150 miles through the flood area of the
Connecticut River Valley, between Montpelier, Vt.,
and
Hanover, N. H., one of the sections worst hit by the Eastern
Total for wk. end. July 31, 1936
$5,494,417.26
floods of last
March.
He viewed
one
dam
completed last
848
Financial
Chronicle
ventive
and another in the process of construction, said Hyde
year
fertile
Pork
advices, Aug. 1, to the New York "Times," which re¬
ported his trip through the territory, in part, as follows:
Mr.
Roosevelt
Waterbury,
General
Guy
left
Vt.,
9
Markham,
W.
Bailey,
Citron
of
Henry
Smith,
of
A,
and
of
New
Vermont;
Soil
J.
Quebec at
Lockwood,
Acting
Not
PWA
PWA
dent
1,300,000
"This
workers
is
minutes later.
into
conference
He
left
the
Hanover
at
then
his
Brown
of
Eugene
train
New
and
Fahey,
Paul
PWA
Aug.
1, that
projects
the
WPA
a
for
that
for
reaching
State.
official from
New
including
being
last
After
this
his
Administrator;
WPA
Arthur
State, and Frank
H.
accounts
Press
of
York
Roosevelt
will
get
under
from
"We
would
fication
of
for
way
reestablish
correspondence
was
compact
a
to
construction
of
field
a
Mr.
in
the
control
Legislation
projects
Legislature.
was
in
System.
Park
because
a
the
said
the
by
the
drought
He
Davis
.
Reserve
latter had
.
the
be
to
caused
shift
a
linked
was
in
sent
the
Tribune":
up
the Democratic
of
treasurer
Walker,
chairman of
the
Farley's
remarks
reporters
finance committee;
to
been laid
had
The
Democratic
an
organization
and
chairman
had
to
date
said
was
said
had
that
practically
that
was
time
he
been
the
to
come
reported
completed.
1932," Mr. Farley said.
developments since he left."
on
to
the
have
asked
however,
Messrs.
raised.
be
fund could
They
said
were
to
Morgan
said
and
relate
Walker
Most of
yes.
to
the
expenditures.
Btill confident that the Democrats will spend
which is about the same as expended
was
the stipulated amount,
Roosevelt's
visit
to
Quebec
noted
was
in
our
672.
page
Visit Prought Areas Aug. 26—
Conference With Governors to
to
10—Plans
At the
time he indicated that he is
same
planning a conference
drought situation, to which he
will invite Gov. Alf. M. Landon,
Republican nominee for
President.
United Press advices from Hyde Park
report
that President Roosevelt has a
three-point program to
discuss
Executives
with
the
on
the
Governors
and
other
State
Executives.
Briefly, it is:
Immediate relief problems.
1.
the
to
demand
drought
to
the
on
he
finance
harvesting.
he
might
the Governors of those
in
that he desires to
possible
any
preferred
which
is
advices
long-range
await
to
to
start
a
in
opera¬
from
report
mid-August
States and of Montana and
committee
somewhere
in
Wyoming, explaining
conditions with his own eyes.
He added that after
three days he would move into Minnesota and Wisconsin
for con¬
ferences with Governors Floyd B. Olson and
Philip La Follette and the
Senators of those States.
two
a
see
or
Then he will proceed to the corn belt for the
the
meet
same
The President revealed that he would go first to the Dakotas to
talk with
money
But
Canadian border.
said
Regarding the Presidents' proposed tour the
,
over
.
comment
asserting
Long range plan to combat drought.
situation
bank credit
for
Projection of State and Federafaid program into winter and spring.
3.
stated:
States
drought committee,
President
drought
farm
to
drought,
Plains
trip from Texas to
The
into
however,
combat
to
National
Hyde Park, N. Y. yesterday
President Roosevelt announced that he plans a
of the drought regions from about Aug. 26 to
Sept 10.
tour
the
1936
;
the situation is altered.
years
Great
to
At his press conference at
playing in the drought picture, Mr.
was
.
Board
*
declined,
tions
a way
one-third
(Aug. 7)
of Governors of the Federal Reserve
area.
have
which must
only
are
Which Gov. Landon Will be Invited
the drought situa¬
Normally, he said, Federal Reserve banks know about how much
/ill
crops
2.
what part Mr.
large
than
Sept.
As to this, Associated Press accounts from Hyde
Roosevelt
wheat
.
Farley said later he
more
said:
Asked
Board,
financing of harvesting in such
the
♦
for rati¬
clearing
passed
corn-
by this work, the Presi¬
Federal Reserve
Forbes Morgan,
Mr.
President Roosevelt
corre¬
Secretary of Agriculture Henry A. Wallace and
Chester C. Davis, former AAA Administrator and now a
of the Board
conditions into
1932.
President
tion with
member
.
of
discussed,
matters
of State
on
.
$2,000,000
a
Aug. Tissue,
control
.
On Aug. 3 the President conferred
W.
Frank
that
President
in
State.
permit Federal work.
flood
"Herald
were
effort.
every
no
PWA
These advices also said:
office
bad
of
director.
reply to Governor Lehman's request
a
which
in
the campaign
for
President
money
President, from his yacht Sewanna, July 16, wrote to the Governor
that funds were being allotted for the surveys and that War
Department
The
Jr.
tenor
brought him
The
engineers
spread
the
even
immediately,
Lehman
re¬
Iowa.
Democratic
York
Robert,
The
Albany,
flood
way
Governor
spondence made public that day.
Garrod,
Foy, NEC State
Federal-State
informed
the
"We told the President we're further ahead than in
Andrew
J.
the
Farley
whole
the
to
Branion
United
surveys
W.
i
unleash
the
Ray
car
relief
the
and
Farley,
Committee, as to
quote the following from the Hyde Park dispatch
groundwork
and
conference
Curley,
in
field
destitute
<*,v.
Committee;
boarded
Governor
State
is
so
condition
New
National
L.
Wash¬
Hampshire,
was
m.
p.
Massachusetts;
for
from
Southern
as
but
of
Mr.
whether
5:30
at
the
for
in' New
President
s
College and
He immediately went
Bridges and Senator
Governor
Niles,
there
conferees,
stated
was
before
the
bare dirt remained.
normal.
we
With
hours
Dartmouth
waiting.
Administrator
director
director
inspector-engineer
It
K.
David
arrived
of
group
Edwards,
Peterson,
two
but
drought
and while immediate
for the
Administration agencies affected
out,
a
of
the
The
including
WPA
meet
which
to
Springfield.
President
third
a
for
the
almost
for
Valley
grounds of
was
the
On Aug. 3 the President conferred with James A.
.
through the
officials,
C. Reed, NEC
started
When
drove
Connecticut
in.
drive
Hampshire;
Williams
;
the
of
WPA activities
arising
such
are
Chairman
officials accompanying him.
and
o'clock
11:20
reaches
with
half completed, where
filling in the earthwork.
and reached the Winooski Dam
m.
advancing, he added,
for
heretofore
areas
some
by
killed
been
Dam,
are
with the
only
one-half
there he returned to Montpelier and went
House
special train which
conference
ington
by
p.
short
boarded
into
at
winding
a
his stop
State
the
1:10
took
shifts
still
are
regions
pointed
to
as
Mr. Roosevelt exclaimed.
•
Montpelier at 10 a.
After
in
Montpelier
through
He
three* six-hour
on
great sight,"
a
He drove through
10
the Little River
Immediately to
showing that in
only
adjust its credit operations for the
engineer inspector for Vermont and New Hampshire, and Merrill E. Creed,
National Emergency Council director for Vermont.
.
He droye
is
provision
as
problems
new
growing
Service,
Daugherty,
not
been eaten by grasshoppers, so that only
even
condition
such
work
had
crops
1936
moval of cattle to other feeding grounds has been completed in the Dakotas,
Representative
Conservation
Hughlett
Hampshire;
The
meeting there
and Gibson, and
He cited reports
program.
regions
roots had
Time),
Austin
.
the
of
Harold
official;
WPA
a
Vermont
Senators
Patrick
he rode from
Standard
University
the
L.
which
on
(Eastern
m.
Governor
Connecticut,
for
private train
a.
President
Witters,
Director
the
at
Aug. 8,
four-way conference with the
Governors of Kansas, Oklahoma, Nebraska and Iowa.
the
En route East,
he will confer with the Executives of Illinois, Indiana,
on drought.
Proceeding to Washington via Charlotte, N. C., where he has an engage¬
ment Sept. 10, he may stop at the TVA
development in Tennessee and in
area.
Michigan, Ohio and Kentucky, also
Regarding the President's conference with
Wal¬
Messrs.
lace and Davis,
we quote the following from United Press
Hyde Park, Aug. 3:
accounts from
"The
President,"
of
mary
what
the
Resettlement and
"What
corn?"
he
Mr.
the
tariff
no
discussed,"
Mr.
of Aug.
as
Roosevelt
will
complete
be
reduced
contemplated,"
measures
he would
detailed;
of
sum¬
Agriculture,
wheat
on
Chairman
Eccles of Board of Governors of Federal
Reserve System Reports to President Roosevelt on
Credit
Situation—Finds
Abundance
of
Funds
and
prepare
the data in time to
next week,
as
well
as
a
have it
The
resurveyed
velt
\
decides to
Pennsylvania
Available for Investment—Credit in Drought Area
on New Reserve
Requirements
—Comments
he added.
10.
go
said, that his visit to the flood
northern
a
Department
Wallace replied.
Mr.
drought
new
President's hands at Washington
report
If
that
Wallace asserted' that
in the
crop
not
are
the
doing in th^ drought."
were
reports
"wanted
said,
meaning
the Big Smokies National Park.
asked.
was
was
"There
Wallace
government,
WPA
about
"That
Mr.
and the
to the
area
drought
of
area
southern
Ohio Valley
Board
it will mean,
New
will be
it
York, western and
postponed.
his forthcoming inspection trip through
drought-stricken States would not be political,
the President was quoted in
press accounts Aug. 4 as saying:
is
.
to
a
dis-service
great
link
to
the-proper administration
of
apy
govern¬
spondents
regarded
as a
reply to Republican
con¬
tentions that the Roosevelt Administration
of drought relief in furthering its
was making use
political campaign.
Noting that the
President on Aug. 4 had brought into
drought conferences Secretary Morgenthau, Daniel W.
Bell, Jr., Acting Director of the Budget; Rexford G. Tugwell, Resettlement Administrator, who has just returned
the
from
a
Works
Works
experts,
tour of
the drought area; Aubrey
Williams, Deputy
Progress Administrator; Corrington Gill, Assistant
Progress Administrator, and a group of statistical
the 'Times"
correspondent' at Hyde
Park
said
in
was
discussed with
Marriner
of
S.
Eccles,
Federal
the
President Roose¬
Chairman
of
the
Reserve
the
substance
-
an
of
his
comments,
abundance
is
quoted
as
of funds available
for
investment in the long-term market which is favorable to
mortgage lending, refunding and flotations of new issues."
reasons
was
by
Governors
Chairman
human misery with partisan politics."
lip
The statement
of
5
saying that "there is
of the
"It
ment
situation
Aug.
System, the
talk taking place at the President's
Hyde Park (New York)
home.
Mr.
Eccles,
who indicated to newspaper corre¬
was
In asserting that
some
credit
on
Eccles,
for
in
reported
response
to questions
concerning the
the credit situation,
improvement in
expressed the belief (according to Hyde Park advices
the New York
"Times") that this has been due to
the
to
de¬
velopment of a new demand on the part of
borrowers, going
hand in hand with the
lowering interest rates, for purposes
including "individual
new
mortgage borrowing and
money."
The
for
to
profits
financing, new refunding, home
generally increasing demand for
Mr. Eccles is said to have added:
trouble
funds.
use
a
in
the
When
credit
from
on
past
home
has been
the
fact
that
there
was
builders, farmers and business people
favorable
terms
it
shows
confidence
in
the
no
demand
are
willing
prospect
of
enterprises.
part:
The
lace
fiscal
and
conference
Chester
C.
In
supplemented
Davis, member
yesterday
one
for
agriculture
with
of the
Secretary
Fderal
Wal¬
Reserve
Board.
Replying to
newspaper
right,
He
than
despite
was
questions later at
men
that
the
the added
costs,
and
more
conference, the
condition
demands caused
obviously concerned
immediate
the press
financial
of
the
President
Government
eo
all
by the drought.
with rehabilitation of the stricken
particularly
told
was
in relation to
a
permanent
areas
pre¬
the
same
advices
specifically about the
ditions
in
President
it
was
credit
stated
situation
that
in
asked
to
con¬
the
drought areas, a topic discussed by the
recently in talks with Chester C. Davis,
agri¬
cultural member of the Reserve
Board, and
lace, Mr. Eccles replied as follows:
The Reserve
position to,
when
relation
System and the Reserve banks
and
are
willing to, take the
in
paper
the
Secretary Wal¬
drought
of banks
area
are
in
a
there, should the
Volume
occasion
require
funds of their
In
his
saw
them
to
by
should
However,
so.
banks
most
do not anticipate any great need
newspaper
the
be
do
why
reason
ordered
to
and
own
talk
no
Financial
143
Board
reflected
Mr.
men
increase
an
of
in
for Federal funds.
that he
requirements
effective Aug. 15,
Eccles said
in
reserve
Governors,
increased
sufficient
have
interest
The
rates.
"I
discussed
the general
situation
ments
credit
considered
is
always
are
with
situation
good.
Increases
Mr.
about
"The stock
the
over
the
stock
market
country,
market?"
not
it
an
important
New
favorable
on
Asked
about
situation
he
centers,"
and
terms
new
excess
"is
in
excess
credit
reserves
banks will
Reserve
is
to
meet
effect
after
banks,
the. Federal
had
the
on
bank
Reserve
effect
the
and
short-
and
few
increase
;
report to the President could be
Eccles
said to
was
have
con¬
described
On Aug. 4 the
Treasury Morgenthau Says
Requirements Will Have No
Increased
Effect
on
Aug. 15, would
Federal Government
on
financing was attributed to Secretary of the Treasury
Morgenthau, in a dispatch from Washington Aug. 6 to the
New York "Times" from which we also take the
following:
p His
statement was interpreted
result of the
meaning that there would be
as
preciable change in interest rates
a
no
ap¬
public reception to the securities
or
Federal Reserve Board's action.
emphasized that despite the increase in the
The
Treasury will be faced with
15.
.
.
The Board already
reserve
question of
a
working in close harmony
was
Stock
Circuit
Purchase
Court
Upheld by
Appeals in New
of
—In Another Decision L. J. Ehret
as
Director Held
Liable for Notes Tendered for Stock
The United States Court of Appeals in New York handed
down a ruling on July 20 in which it decided that
Henry S.
Schendel, a stockholder of the defunct Harriman National
Bank & Trust Co. of New York had offered a valid
defense
the
.in
brought by Frederick Y. Goess, receiver, for the
value of 75 shares of the bank's stock.
par
Court's
bank
alleged
conclusions
to
were
stock, who bought
false representation,
demanding the return of
Indicating that
the effect that
that
security
may
void
his
investor
an
result
of
transaction
by
as
the
a
and offering
money
to
give
back the stock, the New York "Times"
of July 21 said:
Mr.
and
Schendel
Albert
him
to
M.
contended
Austin
buy the
the. bank
was
and
stock
about
on
to
that
be
on
Circuit
ordered
of the
March
10
Mr.
days
March
1,
.
"
1933, when
Circuit
common
Court
bolster
dent
issue
Circuit
Court
sent
bank,
they knew that
$117,000
before
a
notice
conservator
of
was
voiding the
appointed.
pur¬
The
the
District
Court
case
back to
in
its
which
ruling
he
had
District Court for
that
to
trial
on
the
J.
Ehret, brewer, failed, in bis
appeal
obligations, represented by two
notes, to
the
receiver
of
the
Co., of which he
in
gustus N. Hand and Harrie B.
same
stated
that
when
1931,
year
Mr.
report
a
book value of
a
said the opinion, "but relied!
person
a
as
flattered to be associated.
was
the management
He had
of the bank against which he
be
to
sworn
diligent to his duties.
His
abandoning the conduct of the business to Mr. Harriman."
July 25 dismissed
on
suit by
a
a
of
the
the
bank's
bank,
stock
was
Sulka
in
the
syndicate
rescinded
market.
Joseph
The
manager.
his
W.
syndicate contract
Presi¬
Harriman,
bank
closed
March,
in
September, 1933.
in
"Mr. Sulka is not now in a position to rescind after the vesting of the
rights of creditors and the closing of the bank in an insolvent condition,"
Judge Goddard ruled.
He pointed out that between February, 1932, and
»;
the
closing
date
$3,000,000
in
the
bank
the
to
received
of
accuracy
in June,
hank
a
Mr.
Sulka,
committees,
on,"
the
these
was
Court
director
a
remiss
so
held,
as
and
in
"or
1932,
Mr.
statement
Currency which listed his note
"If
1,729
accounts
new
and
than
more
deposits.
if
a
the
member
a
duties
was
as
with
director, had
Comptroller
sworn
of
the
obligation.
also
his
he
Sulka,"
filed
an
as
aware
not
of
of
bank's
know
to
the
what
the
situation
important
was
and
going
allowed
false
representations to be made (with the natural result of induc¬
ing people to do business with the bank), he is now estopped from claim¬
as against creditors that such obligations did not
exist, particularly
ing
the
after
bank
had
into
gone
the
hands
of
receiver
a
condition."
in
an
.1
insolvent
;
Court Holds
SEC
When
by Judges Au¬
Chase, criticized
Utilities Need
Not
in
Mr
Not Register with
Commerce—Refuses
Interstate
Validity of Utilities Act
on
of 1935
Injunctions restraining the Federal Government from
enforcing the registration provisions of the Public Utilities
Act
of
1935
granted to five New York City public
utility corporations on July 31 by Federal Judge Francis G.
Caffey, who ruled that since none of the companies was
engaged in interstate commerce the Securities and Exchange
Commission, under Section 3 of the Act, was required to
exempt them from registration requirements. The corpora¬
tions which appeared as plaintiffs
against the Government
were
the Consolidated Edison Co. of New
York, the New
York Edison Co., Inc., the Brooklyn Edison
Co., Inc., the
Central Union Gas Co. and the New Amsterdam Gas Co.
were
Judge Caffey refused
request of their attorney that he hold
a
the Act to be unconstitutional.
The decision
"Times" of
"It has
hold
a
there is
been
no
summarized
Aug. 1:
be invalid unless
follows in the New York
occasion
or
even
excuse
"that
a
be obliged to do
it
court should not pass
a
as
*
settled," Judge Caffey wrote,
statute to
settled that
was
upon
to
court
should
not
So, too, it is
so.
abstract questions.
I feel that
consider whether the act is
uncon¬
stitutional."
The court noted that pro confesso, or
consent, decrees had been entered
against the government agencies named
ernment
had
conceded
that
the
as
defendants, and that the Gov¬
"plaintiffs
are
engaged
exclusively in
intrastate business and do nothing which burdens interstate commerce."
Section 3
of
the Act provides
engaged unless
interest."
In
a
to
that the Commission shall exempt cor¬
do
so
would
be
'
"
separate opiniqn, but for the
"detrimental
>
to
public
'
same
reason, Judge Caffey enjoined
the Government from attempting to enforce
provisions of the Act against
the Cities Service Co.
and its subsidiaries.
Mr.
purchased
Harriman National
was a director.
According
to the New York "Herald
Tribune," Mr. Ehret had refused
to meet the notes on the
ground that Joseph W.
Harriman
President of the
bank, had induced him to purchase the
bank stock at five times its
worth.
The opinion, written
by Judge Learned Hand, was
concurred
Bank & Trust
in
•
-
.
gave
concerning alleged fraud.
On July 27 Louis
for release from
pay
the
take part
1933, and Mr.
stock.
upheld
June 4,
Mr. Harriman, whom he regarded
Judge Goddard
porations so
Schendel
Schendel must pay the par value of 125
shares
prior to the alleged fraudulent representations.
The
the
Court, in part, reversed a decision of the lower
court, which had
judgment against him for $20,000, the par value of
200 shares
bank's
The
3,
about
of
Burke, Vice-Presidents, had induced
closed.
According to the defense,
chase
Henry E. Cooper, President
William A.
or
told by
this claim.
Ruling
increase in the member bank reserve
an
toj Cancel^ Bank;
suit
The opinion
on
Sulka charged that he had been induced under false
representations
buy 20 shares of bank stock as a participant in a syndicate of directors
Federal
York—Action Decided in Favor of Stockholder in
Harriman National Bank & Trust Co. of New York
a
of the
23
has
♦
to
$42,000.
purchased 50
1932,
22,
Dec.
on
Co. put up as collateral.
As to Judge Goddard's action, the
"Times" of July 26 said:
-
maturity of $514,066,000 in 1J4%
requirements Mr. Morgenthau said that he
States
June
on
and
requirements money
with M. S. Eccles, of the Board of Governors of Federal
Reserve System.
United
then
$1,400 for
in
Ehret
forth that Mr.
set
was
$30,000 note given to
the Harriman National Bank & Trust
Co., of which he was
a
director, and for the return of 1,600 shares of A. Sulka &
In Harmony with Mr. Eccles
Right
$75,000,
was
to
up
Federal
.
f In Discussing the
cash,
for
at
It
"Mr.
bank stock
of
purchases
as
market conditions have remained
easy.
notes Sept.
for
share
During this period,
effect "on way or the other"
no
what he
forbade his
Financing
The statement that the increase in reserve
requirements
of member banks announced
by the Board of Governors of
the Federal Reserve System, effective on
have
seller."
meeting of the directors
a
6ets
with Secretary Morgenthau, Daniel
Bell,
Director; Aubrey Williams, Deputy WPA
Administrator, and Rexford G. Tugwell, Under-Secretary
of Agriculture and Resettlement Administrator.
•
finances
Budget
of
series of
a
shares
a
shares
directed
who
noted that
Hand
is not necessary for the
disposal of this case to rely upon anything
the fact that Mr. Ehret was a director of the bank.
Mr. Ehret had
but
to
Reserve
into
the
as
Moscowitz,
Judge
opinion,
Mr.
President held his monthly conference
Government
Ehret
M.
Grover
receiver.
great importance and with wham he
to
Secretary
Becker,
based
J.
notes,
"It
on
Acting
Alfred
value of the
face
Amos Sulka for the cancellation of
should
Frederick V.
by
brought
attorney,
as of March 20,
1931. "
"Mr. Ehret did not examine these
reports,"
borrowing from the
requirements
reserve
his
only $302 each
exceptions
investments.
or
they become effective."
"bullish," Mr.
Federal
30
Mr.
20
$1,500
oath
with
suit
a
the National bank examiner showed that the shares had
upon
"a factual report."
as
at
Ehret attended
of
long-
Judge
the
Moscowitz's
appeared
purchased
shares
of
before
Judge
now
requirements without
loans
tried
was
sustaining
first
for
Universal
among
why increased
Asked whether his
sidered
in
already ha6
no
Reserves
reducing their
reason
interest
of
established
were
on:
universal
are
or
no
case
undertaken
alSle
be
System
"There
money
situation.
Excess
"Excess
cheap
in
Through
counter-claim for the
a
wheedled
of
and should have
reserves
which
banks
of
reserves
provide
brought about by high rates."
never
requirements
reserve
which
requirements,
reserve
cutting
increase
reducing
rates
conditions
follows
defendant
bank.
the
judgment be entered for
purchased
by 50%, Mr. Eccles went
"The
term
the
of
purpose
System
it
other
some
r.
naturally
recovery
available
the
and
the credit
of
measure
York
of
Harriman
asked.
was
in
is
'
>,,
he
named
was
receiver
which the
»
discussing the credit situation Chairman Eccles expressed the opinion
that
the
is
as
replied.
In
The
that
In
Money Market Favorable
"What
Ehret
as
Ehret presented
the fraudulent representations of Mr. Harriman.
on
invest¬
loans and
Mr.
Goess
said.
he
Roosevelt,"
bank
in
neglecting to consult the report of the National bank
on the true value of the shares, it was stated in
the
"Herald
Tribune," from which we also take the
following:
examiner
favorable trend in recovery."
a
849
for
Mr.
"Times" dispatch further reported Mr. Eccles as follows:
"That
Chronicle
Ehret
Supreme Court of District of Columbia Considers
Application for Injunction to Prevent SEC Inves¬
tigation of Investment Trusts
Counsel for the Securities and
Exchange Commission on
Aug. 5 appeared in the Supreme Court of the District of
Columbia to oppose the issuance of an injunction against
the current SEC investigation of investment trusts.
The
SEC charged that Frederick T. Fisher of New
Canaan,
Conn., who had applied for the injunction, was not acting
in good faith, and said that he had
appeared in court not
to prevent
"irreparable damage or injury to himself," but
impeding and hampering the
study and investigation of transactions of the plaintiff as
with "the ulterior purpose of
Director of Chain and General
Equities, Inc."
Judge Jen-
Financial
850
nings Bailey, who took his decision under advisement, said
that he will probably issue a ruling before Aug. 17.
If an
injunction were issued, it would probably prove an effective
barrier against the Commission's investigation program.
Reference to the injunction sought by Mr. Fisher appeared
in our Aug. 1 issue, page 668.
Associated Press Washington advices of Aug. 5 outlined
the arguments on that date as follows:
said the Commission's investigation of
David Schenker, SEC attorney,
b&pontinued "until we are ordered to stop by the
would
investment trusts
courts."
T
.
compel witnesses to testify, at¬
Contending the SEC had no power to
stockholder's interest would be
Fisher told the court that
torneys for 3Mr.
"irreparafef^amaged"
if the inquiry were permitted to continue.
Schenker replied that Mr. Fisher owned "only two shares of stock
Mr.
He added there were 5,000,000
$3.75."
Equity Corp., worth about
in
shares of stock outstanding.
have been very gracious in their coop¬
Equity Corp.
officers of
"The
"Now this person with
Schenker said.
with our inquiry," Mr.
eration
his|$3.75 interest is trying to prevent the officers from doing what they
believe is in the best interest of the stockholders."
'
Mr. Fisher asked injunctions in two suits, one against the SEC singly
and the other against the same government agency and the officials of
Equity Corp. jointly. In both cases, he sought to prevent the company's
officers from testifying or producing the books in the investigation.
Argument on his pleas revolved around the meaning of a single word,
"study." Mr. Fisher's attorneys contended the SEC had been authorized
but not to "investigate" them
by^ongress to "study" investment trusts,
through summoning witnesses.
compel the wit¬
investigate," and the Commission had full power to
Elliott, of Columbia, S. C.
The following is also from an announcement issued in
Greenville, S. C., by the National Fertilizer Association:
The complaint states that the amendment is unconstitutional because
it would deprive fertilizer manufacturers of valuable property and property
rights.
It
issue subpoenas."
not have authority to
the Commission merely to sit in an arm¬
"Congress never intended for
chair," he added, "and to read the
fertilizer companies have developed, as a
and experimentation and at great
expense,
fertilizer formulas which represent real value to them.
The
amendment, if enforced, would require disclosure of such formulas, as a
result of which their value would be destroyed.
The!
legislation affecting investment trusts, and that
Congress likewise has power to delegate tcrthe Commission
authority to investigate investment trusts in furtherance of
legislation as well as to delegate subpoena powers to the
Commission.
♦
Validity of Kansas Co-operative Marketing Act
by Assistant State Attorney General
Upheld
Arkansas law which protects coopera¬
was upheld on July 23 in an
The validity of the
associations
market
Assistant Attorney General J. Hugh
According to Associated Press ac¬
counts from Topeka, the section of the law on which the
Attorney General's office passed provides a fine for anyone
attempting to persuade a member of an association to
breach his contract with, or for the malicious spreading
of false reports about the management or finances of an
Arkansas.
association.
Assistant
had
never
"There
but what
question
no
interest
common
against
and
Marketing Act, pro¬
Cooperative
our
the
provision
for
protecting the
funda¬
essential to the
"The courts have recognized as permissible
intended
to
outsiders
from
interference
opinion.
said today's
discrimination
some
the Arkansas Supreme Court
said
Wharton
the section but that the Supreme Court of the United
on
contracts
plan,"
General
upheld a similar Act with the same provisions.
is
the
mental
Associated Press said:
The
Attorney
passed
States had
motes
by
written
opinion
Wharton of
of
the
determine
These
The
filing
this
of
encourage
rights.
suit
does
Relief from Taxation—Ruling by
in
Marion
the
County Superior Court at Indianapolis, sustained Secretary
of State August Mueller in his refusal to grant articles of
incorporation as a non-profit concern to the St. Joseph
County Consumers' Cooperative Association at South Bend.
In his ruling Judge Wilson said:
^
If
private
enterprise
engaged
tion
to
obtain
constitutes
An
this
is
should
it
similar
in
is
This
like
concern
a
going
the
pay
goods cheaper than
with
compete
to
taxes
same
of business.
lines
The
private capital and
other
as
be bought from private concerns.
can
-
■
dispatch
corporations
of this organiza¬
sole purpose
profits.
Indianapolis
Commerce," in quoting Judge Wilson
of
such
a
the
It
State
State
laws
not
the
the
crops.
any
sense
indicate hostility
to
in a committee appointed by the Governor,
farmers,
in draft¬
constructive bill which passed the House but was thrown
which, instead, added the open formula amendment to
existing fertilizer law.
highly
a
the
then
FDIC
of
Income
Establishment of
Since
as
cooperative
he
could
was
not
formed
how
see
organizations
ruling will
Permanent
30
Reported at $7,672,257—Losses
and
Expenses During 10-Month Period Totaled
$6,936,371—Data Covering Entire Period of Deposit
Fund
June
to
Insurance
In
a report to insured banks on the activities of the Federal
Deposit Insurance Corporation from Aug. 23, 1935, the
effective date of the permanent fund, to June 30, 1936,
Leo T. Crowley, Chairman* reveals that the income of the
Corporation from interest on securities owned, less provision
for amortization of
premiums, and profit on securities sold
during the period, was $7,672,257.
The report, made public
on Aug. 3, notes that during the same period the adminis¬
trative expenses of the Corporation amounted to $2,121,415,
and deposit insurance losses and expenses amounted to
$4,814,956, the latter sum including losses of $1,504,789
on
payments to depositors of closed banks, expenses of
$72,125 incident to closed insured banks, and losses of $3,238,041 on loans to banks and purchases of assets from banks
to avert losses and facilitate mergers.
"Thus the combined
losses and expenses of the Corporation were $6,936,371,"
the report said.1
The report, also containing data on the activities of the
FDIC from the beginning of deposit insurance, continued:
On an annual basis the interest earned on the
securities owned by the
of $8,500,000 and it is operating on an annual
Corporation is in excess
assessments
which
on
insured
23, 1935 to June 30, 1936, the revenue
amounted to $28,927,667, part of
which
banks
collections and part represented charges against
represented cash
credits
the
established Aug.
were
1935,
23,
for the
purpose
could
qualify
it
from .taxation.'
be appealed
on
to
securities
and
sold,
assessments
collected from banks has amounted
$149,121,293 from the beginning of deposit insurance to June 30, 1936.
During the same period total losses and expenses amounted to
of
paid
securities, profit
which $151,023
Funds
on
June
was
30,
$14,789,397,
allocated to the banks which withdrew from the
1934.
These losses and
payments of $9,943,086 actually
expenses
consisted of total
made or pending to depositors of closed
from
banks, disbursements of $7,911,155 for loans and purchases of assets
and expenses and other charges of $193,738 incident to
merging banks,
such
payments,
547,545;
The
loans
of income
excess
and purchases,
administrative
and
expenses
less estimated recoveries of $11,and other charges
amounting to $34,482,919
Corporation of which $28,927,667 represents the
assessments.
;
Insured Bank
All of these
June 30,
deposit insurance
>
Suspensions and, Liquidations—
the effective date of the Banking
authorities.
of $8,288,964.
constitutes the surplus
Act of 1935 to June 30,
were
1936,
closed by supervising
banks had been placed in receivership prior to
Of these deposits $7,051,000. or 77.8%, represented fully
1936.
deposits subject to offset,
number, were fully protected.
insured, preferred or secured deposits including
the
to
for assessments
Temporary Federal Deposit Insurance Funds.
The total income of the Corporation from interest on
From
said
that
in
36 insured banks with deposits Of $9,059,000
relieving non-profit
indicated
is
that
Judge "Wilson
profiting,
under
conclusion
various
College and at
by the Senate,
of the
"Journal of
above, also further
Chicago
the
to
reported him as follows:
With
to
manufacturers
ing
to the
Wilson,
E.
Herbert
Judge
fertilizers
conducted at Clemson
experiment stations.
budget of slightly less than $2,500,000 for administrative expenses.
agriculture."
Judge Wilson of Indianapolis
30
fertilizers
use
fact, representatives of the National Fertilizer Association and
recently cooperated with representatives of the
In
fertilizer
is
Indiana Held Organized
Cooperative Organization in
July
applying
of
branch
During the period from Aug.
On
conducted
of those
the
College, but is an effort in good faith to determine constitutional
Clemson
from
for Profit Denied
for many years
also has
encourage
still being
are
Sandhill
and
Dee
method
best
experiments
the Pee
to
to the farmer.
In fact, only a few years ago
in starting a research project in South Carolina
assisted
Association
the
to
work
profitable
most
research
Association
Fertilizer
educational
and
are
that
of
years
many
National
The
research
that
states
complaint
result
pass
tive
fertilizers.
of
cost
published texts on investment trusts."
Yesterday (Aug. 7) the SEC filed its brief in the action, in
has the constitutional power
-
that a manda¬
formula law cannot be enforced by chemical control methods,
and furthermore than the present fertilizer law without the open formula
amendment gives
fertilizer consumers ample protection and . information
as to the form
and availability of the plant foods supplied.
Hence, the
open
formula amendment, even if it could be properly enforced, would
be of no benefit to the fertilizer consumer and would only add to the
which it declared that Congress
to
pointed out that agronomists and chemists agree
was
tory open
cut
declared, "to undertake this inquiry if we did
"It would be futile," he
co-plaintiffs by Elliott, McLain, Ward-
manufacturers and
law &
college and
testify.
to
nesses
K
practically the same thing
Schenker argued that the term "meant
Mr.
as
Aug. 8, 1936
Chronicle
and
31,108 depositors, or 99.2% of the total
Sixty-one insured banks with total deposits
Supreme Court.
Jan. 1, 1934,
Order
Temporarily Restraining Enforcement of 1936
Open Formula
Amendment to South Carolina
Fertilizer Law Issued by Federal Court—Hearing
on
Permanent Injunction to Be Held Aug. 12
reorganized and reopened as an insured bank.
Deposits
in¬
secured or subject to offset in the 60 banks which remained closed.
were 66,035 depositors in
these banks and of that number, only
$85,000
of
$12,161,000, or 83.6%
ferred,
There
306,
of $14,635,000 failed between
One of this number having total deposits
and June 30, 1936.
of
or
Yt
was
of 1%, had
of the total deposits, were either insured,
accounts which were not fully protected.
The
which were neither secured
total of the excesses of such accounts over $5,000
a
permanent injunction to restrain the trus¬
tees of Clemson
College and the Attorney General of South
Hearing
on
Carolina from
Federal court in Asheville, S. C.,
on
by
a
Loans to Banks and Purchases
Aug. 12.
Pursuant to the provisions
three-
The
and purchases
a
court
had,
which
on
July 28, issued
preserves
formula
the present
a temporary
status
restraining order,
pending
the
Aug.
12
The suit to restrain the enforcement of the open
hearing.
amendment
Fertilizer
preferred was $2,389,000 or 16.4% of the total deposits.
enforcing the 1936 open formula/ amendment
to the South Carolina fertilizer law will be held
judge
or
was
filed
on
behalf
of
the
National
Association, Washington, D. C., and 41 fertilizer
of assets when "such action will reduce the
threatened loss
to the
made loans
assets
were
another insured bank," the Corporation
aggregating $7,482,243
amounting to $428,913.
made
immediately
risk or avert
Corporation and will facilitate a merger or con¬
solidation of an insured bank with
has
of Assets
of the Banking Act of 1935 permitting loans
to 12
banks and has purchased
The deposits of $17,889,017 in these banks
availabie in full in the merged banks and the
local deflation of values which would have
occurred if the banks had been
Volume
permitted to fail
is estimated
Financial
143
being $3,238,041, which is substantially less than the losses
as
which would have been incurred had the banks been placed in
Membership
.
The provisions of
receivership.
of
number
total
required
protection.
1936, was
banks on June 30,
insured
operating
the
the Temporary
Thirty-four banks, with deposits of $207,000,000 gave the
notice and withdrew from insurance
The
longed dry spell, included the inaug^atibn ph Aup5 3 of its
previously announced program of cattle purchasing.
The
program was started simultaneously on Aug. 3 in the Fargo,
St. Paul, Chicago, Omaha and Sioux City markets, and al¬
though the U. S. Department of Agriculture ordered the
purchase of 4,343 cutter grade cows and heifers and 450
common grade calfs, it was stated On Aug. 4 that only 1,350
head, or about one-fourth of the number ordered purchased,
were
actually bought.
However, on Aug. 4 the Department
of Agriculture ordered the purchase of 2,110 cutter cattle
and 225 calfs in the five markets.
The purchasing program,
was announced a month
ago on July 2—with an initial allot¬
ment of $5,000,000; the cattle
purchased will be processed
on contract for the Government and the meat will be turned
the Banking Act of 1935 made it possible for State
FDIC upon notice within 30 days from the termination of
Fund.
meet
•
banks not members of the Federal Reserve System to withdraw from
14,118, and of this number 809 were operating 3,153 branch offices, making
a|total of approximately 17,271 bank offices being operated by insured
banks.
.
.
.
„
Insurance Liability
>
;
protects through deposit insurance
with
deposits, of $2,000,000
banks.
insured
or
80% of the deposits of insured banks
These banks comprise 88% of all
liability of approximately
less.
assumed
has
It
,
information available, the Corporation now
Based upon the most recent
a
potential
number
of
positor.
.
relief
deposits of 98.5% of the total
The balance sheet of the FDIC as of June 30 was
contained in the report as
also
bushels of seed grains for distribution to stricken farmers.
It is stated in presss accounts that the purchases would be
follows:
STATEMENT OF ASSETS AND LIABILITIES, JUNE 30,
1936
V
chiefly seed durum wheat, spring wheat, oats, barley, rye,
flax and other coarse grains, thus guaranteeing available
supplies the coming winter
Up to Aug. 5 the Works Progress Administration had
authorized the employment of 93,500 destitute farmers in
10 great plains States, of which about 40,000 are now working,
*
Assets
Cash
on
United
hand and
States
$22,298,515.50
deposit
(cost
securities
Government
of
amortization
for
reserve
on
premiums)
less
.
and
311,461,995.77
:—
accrued interest receivable
3333,760,511.27
—
Assets
and
bank suspensions
through
acquired
mergers:
while the Resettlement Administration had made emergency
_.
Subrogated claims of depositors against closed
insured banks
to
831,133.97
—
6,602,011.77
from merging banks to
deposit insurance losses
400,412.64
losses
—
Less:
last
8;515,798.51
1.00
Furniture, fixtures and equipment..
Deferred charges and miscellaneous assets.
64,450.75
$342,340,761.53
-L
Total assets.
in 20 States
rebates payable
Net balances of
On Aug. 6 the Bureau of Agricultural Economics, United
States Department of. Agriculture, issued its midsummer
$90,184.85
depositors in closed insured banks
outlook
831,133.97
claimed—contra..
pending settlement or not
921,318.82
:
insurance funds.
Total liabilities
—
and losses.
17,516,948.78
120,018.44
$18,558,286.04
-
-
Capital
Capital stock
$289,299,556.99
...
Surplus:
$4,961,578.39
23, 1935—..
Balance Aug.
*
Additions:
Deposit
insurance
the following to say:
assess¬
L
ments
$28,927,667.41
—
sales of securities (less pro¬
"
premiums)...
drought the nation has been passing through, will be most marked
serious
amortization of
for
in
7,672,257.47
-
However,
Deposit insurance losses and
in
book
caused
by
unfavorable
weather which
the principal feed-grain producing regions.
now
Total supplies of
they were after the 1934 drought.
better than, in 1934, and the
hay and roughage supplies are
number of hay consuming animals is smaller.
$4,814,955.94
Reduction
over
shortage
feed grains may be as small this year as
Deductions:
2,121,415.35
Administrative expenses
feed
the
of
extends
$41,561,503.27
The decrease in supplies will be the
pork and the better grades of beef.
result
36,599,924.88
r—
expenses
said that the reduction in supplies next year, following the
The report
Interest earned and profit on
vision
report on livestock and meat, in which it said that
higher prices of both meat and livestock in 1937 than this
year are in prospect.
Because of this year's drought meat
supplies next year will be about as small as in 1935 following
the widespread drought of 1934, the report said.
For this
reason and because of prospective improvement in consumer
demand the general level of both meat and livestock prices
in 1937 is expected to be higher than for several years.
Re¬
garding the report, the Department of Agriculture also had
Unused credits for assessments paid to temporary Federal deposit
Reserve for undetermined expenses
the
Aug. 6.
on
Liabilities
Current liabilities:
Accounts and assessment
on
week,.
page 676, Iowa and West Virginia
added to the roster of official drought States; on
$14,832,136.74
6,316,338.23
Reserve for losses.
14
drought given in the "Chronicle" of
have been
July 31 the
Department of Agriculture Drought Committee designated
35 counties in Iowa as "emergency drought counties," and
on Aug. 6 named 10 in West Virginia.
The entire number
of such counties throughout the stricken area totaled 841
Real estate purchased
avert
in
if necessary.
Since our item
to avert deposit in¬
merging banks
surance
grants
families"
$7,829,712.33
Loans
to over 32,000
"drought-stricken
States.
The Regional Agricultural
farm
Credt
Corporation indicated on Aug. 4 that under its present
program it is in a position to care for at least 125,000 families
in closed
depositors
of
drought
$6,998,578.36
-
v
insured
banks pending settlement of not claimed, to
be subrogated when paid—contra
balances
Net
Surplus Commodities Corporation for
revealed plans for the purchase, with a $10,000,000 loan by
the Commodity Credit Corporation, of about 8,000,000
•'
.
the Federal
distribution.
On Aug. 4 the Agricultural Adjustment Administration
each de¬
depositors with a maximum of $5,000 insurance for
.
to
over
than 50,-
$19,000,000,000 through the insurance of the deposits of more
000,000 depositors and it fully protects the
851
Action this week by the Government in its endeavor to
the critical situation which has arisen due to the pro¬
The loss on these loans and purchases
prevented.
was
Chronicle
The feed situation, the report
value of
numbers
furniture, fixtures & equipment_.._._—142,213.48
of
34,482,918.50
._
than the trend of any other species of
next
next
Jan.
1
may
year
will
be
be smaller.
The number
livestock.
curtailed considerably while cattle
3 to 4%.
Sheep numbers on farms
be larger than last Jan.
feed for market may
$323,782,475.49
Total liabilities and capital.
more
produced
numbers will also be reduced possibly
7,078,584.77
Total capital
pigs
said, will affect this year the trend of hog
1 but the number of lambs on
,
.
$342,340,761.53
Electric Power from Norris Dam Transmitted to Wilson
Dam in Alabama
Drought Cited as Nation's Worst—Govern¬
ment
Inaugurates Cattle-Purchasing Program-—
Current
WPA
Extend
RA
and
Aid
to
Stricken
Farmers—
Plans of CCC for Purchase of Seed Grains
The weather for the first four
months—April-July—of the
1936 growing season has left a large part of the agricultural
United States with a handicap that the two remaining months
cannot
possibly
overcome,
according to J. B. Kincer of the
termed the present drought
climatological history of the country."
Weather Bureau, who on Aug. 5,
the
"worst
in
the
July made the fourth consecutive month with but little rain
in the interior valleys and the great plains.
Mr. Kincer
noted:
'
.
The first four months of
of record in the
0
"Courier Journal" said:
'
the present growing season have been the driest
The first power
Dakotas, Minnesota, Wisconsin, Iowa, Missouri, Illinois,
and Indiana, and the second driest in
and Montana.
::
"The
,
F.
1934—had 60% more rain than these four months in 1936.
Secretary of Agriculture Henry A. Wallace on Aug. 5 also
described this year's drought as the worst on record.
He
referred to 1930,
years
West
1934 and 1936
All the same, this year
the
as
being "the three worst
we've ever had."
In mentioning recent rains in the
the Secretary said:
has not been so destructive as 1934, even though
We have much better oats and hay crops, and
good quality.
The corn crop remains to be seen, but
drought has been worse.
the oats are of very
good, there's no doubt that it will
be very poor indeed.
We shall know more about it in a few days, when the
crop forecast figures are ready;
The rains will do good to the late corn,
especially, and there's a good deal of late corn this year.
although these new rains will do some
generated by impounded waters rushing from Lake Norris
flashed through to Wilson Dam last night.
Ohio, Kentucky, Oklahoma, Kansas,
The previous driest April to July—in North Dakota, in
-
Authority's Norris Dam powerhouse
in northeastern Tennessee was put into operation on July
28, when electric power generated by the dam was trans¬
mitted a distance of 220 miles to Wilson Dam, at Muscle
Shoals, on the Tennessee River.
Ceremonies marking the
completion of Norris Dam were held on March 4 last, and
in the reference thereto in our issue of March 7 (page 1567)
it was indicated that the power generating equipment was
expected to be ready for operation about Aug. 1.
Regard¬
ing the transmission of power to Muscle Shoals, Associated
Press accounts from Norris, Tenn., July 29, to the Louisville
The Tennessee Valley
C.
test
was
very
satisfactory,"
said
Without ceremony electricians
Superintendent
turned power from one of the two 66,000-
generators into the circuit and listened
horsepower
Wilson dam reported arrival of the current.
of
Construction
Schlemmer.
with satisfaction as
The first test followed 36 hours
experimentation and adjustment of equipment.
Pouring through a 20-foot penstock, the water was
horsepower and then stepped up to 154,000
converted into 13,800
horsepower before entering the
transmission line.
With
the
purposes.
summer
generation
of power
the dam has served its three primary
253-foot wall held back flood waters.
This
gallons were released to replenish the drought-stricken
Last spring its
millions of
Tennessee River and to aid navigation.
Further Associated Press advices
■said in part: ;•
U;..
Aug. 1 from Knoxville
herds are broken
notified Commonwealth & Southern Corp.
Co., Tennessee Electric Power
Authority said it had
The
months after
territory now
not to serve certain
at
production facilities of the United
compiled and published monthly by the
United States Geological Survey, was published on .July 31
by the Federal Power Commission.
The maintenance of
this record was delegated to the Commission by the Federal
Power Act and is in accordance with a plan approved by the
President to eliminate duplication in the collection, com¬
pilation and publication of statistics relating to the electric
light and power industry.
In an announcement made
available by the FPC on July 31 it was also stated:
the power
on
work
hard
in
by the Geological survey.
publish
and the utilities in collection
on
is that each utility
statistics
Emergency Rates
Geological
the World War as a war-time measure.
♦
Business Interests
Prevent Sacrifice of Cattle by Farmers
Gov. Landon of Kansas Appeals to
in
nounced
be
ferred
Townsend
G.
John
be worked out in
to
College
drought.
This
interest
the
in
and
regard
State
especially
Kansas.
of
what
business
the
directly
man
of
men
the
I
But
State,
what
just
Over
20-year
a
period
kind and to
every
value
the
State's
the
of
wealth
This
helped
has
acute
feed
great many
within
shortage
stockmen,
the
few
next
a
on
supplies
questions
the
work
to
they
are
that
plans
faced with
enable
will
these:
are
"It's
to
these
send
decision
The
munity
valuable
in
which
these
assets.
In
prestige
to
through
ordinary
If
such
be
will
crops
a
market
has 'spent
is
for
years
perhaps
be restored
in
a
be
State
and
These
liquidation
means
of
high
a
single
to
herd
'
to
up.
come.
it
season,
are
loss
industry of Kansas
Where
requires
deficiencies
It is
upon
livestock.
It
But
is my
hope and belief
of
I know,
they should not
attention
and
other
of
civic
what
they
not
animals
be necessary
by
sending
will do everything in their
the
men,
of
"local
to help avert
any
I
Chambers
now
their neighbors but to themselves.
do
unnecessary
sacrifice any
them
difficulty alone.
business
organizations to the opportunity they
can
to
power
have to meet the
the
service, not only to
out
that it will
valuable breeding
livestock men,
the
a
of
as
to
to
market.
hold
on.
to
call
want
of
Commerce
have to
render
They should find
sacrifice.
If
these
L Li
Governor Landon
Compromise"
View"—Discusses
of "Irreconcilable
Republican Presiden¬
"Practical" Progressive
radio address broadcast from
Washington August 3,
a
fair conclusion that the Republican candidate, like the platform
which he is running, is an attempted compromise of what are in fact
irreconcilable points of view.
large number
Our
Attempted
t
♦
accepted the Republican nomination as President. The
speech of Secretary Ickes was delivered under the title "Gov¬
ernor Landon, 'Practical' Progressive" and from Mr.
Ickes'
comments we take the following:
Governor Alfred M. Landon has decided that he is a "practical" Progressive.
That this is the designation that he
would apply to himself is clear from his speech of acceptance
in Topeka the night of July 23.
.
.
.
in
replenish
to
years
a
other
latter
but
quality
as a voter
so many
Harold L. Ickes, Secretary of the Interior, undertook to discuss the speech of Governor Alf. M. Landon, in which the
are
farms
irreparable
general the livestock
decade
In
com¬
wealth,
only
Every American citizen should qualify
At this time, when the" citizens of
being deprived of their suffrage, it is especially important that
Points
now
they
where he had
right to cast a ballot in the elections of this free-thinking,
tial Candidate
The
every
livestock
almost
an
to
Primary Urges All
Right to Vote
Secretary of Interior Ickes Declares
to maintain
able
'
•
Independence, Kansas,
/'■;'
A
on.
they feel that
contribute not
in building it
a
they
carry
■
»
American citizens should exercise the right of American suffrage.
market?
the
to
they
The
channels
the
.
great privilege.
of
decisions
are
ac¬
Corporation Commission, and Dean Harry Umberger,
College.
free-speaking country.
only the
not
These farmers
to
will
Or
to
located.
are
cases
liquidation is at all
crippled
may
farmers
many
localities. '
their
who
man
animals
they make is important
community
the
a
and exercise his
communities.
make
The
Chicago at the request
reels, how it felt to cast his vote, was quoted by the
correspondent of the New York "Herald Tribune" as saying:
"An
affect
them
Will
breeding herds they have built up?
forced
our
low, ^must
are
whose breeding herds are in danger.
news
way.
days—decisions that will vitally
out
business
he said in his original appeal to the
to cast his ballot in the Kansas primary on Aug. 4,
Gov. Landon of Kansas when asked, for the benefit of the
has
products
up
demands prompt action.
livestock farm
feed
whose
some
agriculture but the business interests of the State.
trying
build
the various public services of
carry on
Everyone in the State has benefited from it in
An
livestock
to
The question of
plan probably would
and at which he was represented by Homer Hoch, chair¬
At his home town,
nations are
$2,738,352,141.
as
a
gone
involved.
totaled
satisfactory to him.
Citizens to Exercise
public,
the
This plan is expected to
Gov. Landon in Voting at Kansas
other
every
want
realize
to
But,
—
better than the livestock
mean.
few days.
of the Kansas
of Kansas State
by the
on
indirectly,
or
Nobody knows
conditions
present
situation brought
livestock
affects,
a
the small general farmers
of the Governor,
by the representatives of the State Agri¬
the
to
also
situation
themselves
men
talks
the
to
in
by the
Feeds will
plan used in 1934, and prohibited
tion of the railroads follows the conference held in
representatives Of the State Agricultural
We give Governor Landon's speech herewith:
>"•
You have listened
designated
railroads, he regards the emergency rates on feeds as the most important
followed talks by
cultural
made.
are
The Governor said he was informed
been settled.
tee, and Henry Cabot Lodge Jr., Republican candidate for
Senator from Massachusetts.
Mr. Landon's radio address
College.
purposes
Governor Landon said the plan was
Republican Senatorial Compaign Commit¬
Chairman of the
are
They will be responsible for seeing that only shipments
Governor.
bona fide drought-aid
of Delaware,
Jr.
which
granting emergency rates for the shipment of cattle to pasturage has not
his
as
more
recently by the Interstate Commerce Commission.
of the people in our various
Senator
were
it
The feed problem is
-
eliminate the abuses of the certificate
conviction that the
communities
will be able to work out practical plans for the necessary
cooperation."
Mr. Landon discussed the drought situation
on
Aug. 3 with Senator Steiwer of Oregon and Lewis J.
Taber of the National Grange ; others with whom he con¬
expressed
He
"resourcefulness
expected to follow.
an¬
areas,
shipped at the reduced rates to committees in each county designated by
the
for
ket," stated that "if these herds are broken up, the business
men of the community will be certain to feel the effect un¬
favorably."
plan carrying feeds
United States Department of Agriculture as drought stricken.
"valuable animals to mar¬
they will be forced to send their
were
They will apply only to those counties
was
areas
a
The Santa Fe Railroad
50% reduction in rates for hauling water to the drought
of the regular rates.
delivered
by Governor Alt M. Landon, Governor of Kansas, at To¬
peka, on Aug. 3.
Mr. Landon, Republican nominee for
President, in pointing out that the farmers are facing the
question as to whether, because of the low feed supplies,
the drought-stricken
they had worked out
The emergency rates to be granted will amount to two-thirds
complex.
speech in which he urged the business interests
of the State to help avert unnecessary sacrifice of herds
in
a
other railroads
and
Drought Area
stockmen
Aug. 3
the Western Trunk Lines Association notified
Landon today that
reduced rates to drought-stricken farmers.
at
A radio
by
on
a
The railroads grouped in
,
Governor
of State to
A request for a conference in Chicago
question of reduced rates had been made by Gov.
telegram sent by him to E. B. Boyd, Chairman
Trunk Lines Committee.
From a Topeka
dispatch Aug. 5 to the New York "Herald Tribune" we take
the following:
them was begun by the
since 1919, and compilation of
survey
Feed and Water Shipment
on
the Western
of
War Department during
the
Landon in
been published monthly by the
today have
published
agriculture, should do their part in preserving the very
agriculture.
r;
prosperous
Drought Areas of Kansas
Aug. 5.
on
the electrical industry.
The
a
The granting of emergency freight rates sought by Gov.
Landon of Kansas in behalf of farmers in the drought areas
in the State on shipments of water and feed was announced
undetaking the publication of this
uniformity and eliminate unnecessary expense to the
and compiling the data.
should file but a single report
with any particular subject and that only one federal agency should
statistics and information relating to each of the various phases of
dealing
of
Railroads Act to Comply with Request of Gov. Landon
in
The objective sought
These herds must not be wiped out
intelligent planning.
prosperous
a
for
federal government
will,
determined
be
and
foundation
by the same
of the Commission in
be recognized, and steps taken
The courage and intelligence of Kansas farmers
depended upon to meet the situation as fully as the people on
farm can meet it.
All our other interests, which benefit so much
.from
currently the production of electric energy for
and the consumption of fuel by electric
production of electricity, are compiled
method and presented in the same form as when published in
to promote
situation should
serious loss is sustained.
be
the
The reports, which show,
The purpose
any
had
good
will
The
temporary emergency.
a
can
public use in the United States
the past
materially.
procedure that should be followed on an individual farm
necessity,
public-utility power plants in the
series is
very
a
by conditions peculiar to that farm.
The
important consideration, however, is to make certain that valuable founda¬
tion herds are preserved.
Unless these herds are preserved, Kansas agri¬
culture will sustain a tremendous loss, for livestock, perhaps more than
any other factpr, determines the success of Kansas agriculture.
The fine herds of livestock of Kansas farms are the result of years of
formerly
States,
the
is that
before
The exact
information
been
always
thing
once
of
series of monthly reports presenting current
a
can
change the feed situation
have
main
Survey
The first of
cooperate
self-reliant people in Kansas.
We have
to be to come through so many adversities.
I am sure that the
sense
and resourcefulness of the people in our various communities
be- able to work out practical plans for the necessary cooperation.
United States Geological
by
Compiled
Formerly
year.
This is one
for livestock men to hold on and for
with them in holding on.
Another reason
and do change for the better rather quickly.
Fall
and good prices for livestock next
conditions
may
We
of Data on Power Production
United
States—Information
was
of
The
strongest possible reasons
that
rains
FPC Assumes Publication
Facilities
the
is
by which the Authority agreed
served by Commonwealth & Southern.
will end restrictions
of the contract
a
their communities to
Coordinator of the TVA, explained that expira¬
Forrest Allen, Assistant
regarded as the best farm collateral.
always been
good market
be
of
whichever date was earlier.
tion
unfavorably.
effect
has
of the community will be certain
the business men
up
prospects ahead of it appear favorable.
We have a' national condition
of undersupply in meat production.
If recovery is unimpeded there should
plant or until Dec, 31, 1938,
completion of Norris Dam power
the
Livestock
and the Mississippi Power Co.—of the com¬
pletion of the plant and given notice that a contract between the Authority
and these companies would expire in three months.
The contract was executed Jan. 4, 1934, to remain in force until three
Co.
Power
Georgia
Co.,
feel
to
subsidiaries—the Alabama Power
and its
iAug. 8, 1936
Financial Chronicle
852
His party
was
in an unfortunate situation.
It had to offer to the West a candidate and a platform that had at least
,
progressive coloration, while at the same time it was under
compulsion
a
to
give to Wall Street and the economic hierarchy of America, a candidate and
a
platform that would satisfy their reactionary demands.
So
we
have
a
platform that faces both ways upon which stands a candidate whom the
West is asked to support because he is a
"Progressive," while, at the
same
time, he is entirely satisfactory to Wall Street and the predatory interests
because he is "practical".
-
Volume
3FNow whether
sive"
"practical" and 50% progres¬
West than to reactionary
question if in his speech he had not himself
Governor Landon is 50%
whether he leans more to the progressive
or
Wall Street might be a close
thrown
some
Note this significant language and
a true Progressive or of a "practi¬
light upon the subject.
determine whether it is the utterance of
cal" Progressive.
As
a
I quote from his speech:
I
young man
853
Financial Chronicle
143
was
attracted to the idea of centralizing in
the Federal
it is statedfthat among other
Lemke listed avoidance of foreign
ment
of
Union Party aims, Mr.
entanglements, establish¬
States" to refinance farm
*' Bank of the United
a
indebtedness, and. "an absolute
On July 31
on agricultural
people with what we
embargo
imports until we can't feed our own
produce here."
Representative Lemke was reported as saying
Government full power to correct the abuses growing out of a more complex
When the people rejected this alternative I was as disap¬
that he
But in spite of this rejection I have lived to see many
of those views substantially corrected by the 48 State Legislatures in their
fields and by the Federal Government in its field of interstate commerce.
Union Party's platform promises it would put on any
annual income. Press advices from Chicago added
social order.
pointed
as anyone.
It would be interesting
he
when he refers
means
out
of
a
more
if the Republican candidate would explain what
to a "substantial correction" of "abuses growing
complex social order."
people just what these abuses are that
by the 48 State Legislatures; whether
abuses, if and when corrected in one
and whether or not the
across
State, can step
where there is no
State line into another jurisdiction
convenient
a
American
so satisfactorily have been corrected
the corrections really fit the abuses;
Perhaps he will tell the
"practical" Progressive.
of the Repub¬
lican candidate stands out.
Take, for example, the matter of civil service.
The Republican National Convention adopted a civil service plank.
But
it was not nearly strong enough for the man who was to be nominated the
following day as the party candidate for President.
So he sent a telegram
to the convention in which he took an advanced position on this question.
Governor Landon's friends insist, he is a
Let
examine other
us
Subsequently he called
it
seems
a
statute upon
particulars in which the practicality
a
that Kansas has
of Kansas. Now
although there has been
special session of the Legislature
no
system of civil service,
the law books for a number of years
,
Landon has been the Chief Execu¬
his State for over three years, he has never asked for an appropria¬
give Kansas civil service.
As the strong, forceful leader that he is
It also appears that although Governor
tive of
represented to be, he probably would have had no
from the
difficulty in obtaining
law that was
Legislature whatever was necessary to implement a
already in the books.
Contrast Governor Landon's attitude on civil service
dent
Roosevelt.
The latter
did all in his
session of the Congress a law
power
with that of Presi¬
through the last
to get
putting postmasters of the first, second and
In this effort, the Republican members,
third classes under civil service.
When Congress adjourned
generally speaking, did not come to his aid.
without giving
to
the President the civil service law that he
have, he issued
vice
long
so
as
thought we ought
in these three
be under civil ser¬
Executive Order placing the postmasters
an
They will continue to
classifications under civil service.
And at the next session of Congress
he is President.
Presi¬
this civil service law.
Among other things, Governor Landon is opposed to a dictatorship in
America. In this regard, he is no different from every other normal Ameri¬
dent Roosevelt again will urge Congress to pass
Following
can.
the
lead
of
American Liberty League,
the
the liberty-loving du Ponts, Governor Landon
Roosevelt
a
potential dictator.
founded by
pretends to see in President
....
.
paralytic stroke."
now is
livered at the oil conference:
When unbridled competition is injurious to
that competition should be
present firm stand against
the oil industry in 1933.
the public, a regulation of
permitted under governmental supervision.
his
demand for it in
Republican candidate would discuss
would be interesting if the
It
price-fixing in the light of his
•'
► Governor Landon continued to be enthusiastic over the operation
Oil Code, for on June 4, 1934, he sent a telegram to the President in
of the
which
he said:
Improvement
in market price structure of crude oil owing
has meant an increased
control of co-ordination between States
to Federal
purchasing
Kansas alone of $33,000,000 a year based on present prices as
compared with distress prices of a year ago.
.
.
.
Unless the pending
national legislation goes through we are threatened with another debacle
and collapse of this market, which, of course, will affect the price of coal
also by reason of cheap fuel oil coming in competition.
May I urge the
mportance of this legislation being passed before Congress adjourns.
...
i
If it is difficult to reconcile the views of Candidate Landon with those
power to
of Governor Landon, it is almost
platform with itself.,
in
one
impossible to reconcile the Republican
William Randolph Hearst
"progressive."
Of course, Mr. Hearst
This is the platform that
of his shrill editorials calls
hasjevery right to expect his most trifling dictum to be accepted by abject
Republicans as a pontifical utterance. And if he says it is progressive, who
would be so bold as to question that fact ?
In the same editorial he laid
down the law to the effect that the candidates for both President and VicePresident are also progressive.
Well, who in the whole country, I may ask,
has a better right to name the children than their father?
Whether Mr.
Landon and Col. Knox are progressive or not, there is no doubt that they
are
Hearstian.
■
V.--'-.
Beside him, and
Boston lawyer
conference.
press
Mr. O'Brien, from bis chair
*
beside Mr. Lemke, explained what would be
done with income above the proposed
limit.
"We would take it by a surplus tax, a
That connotes thievery.
100% tax. It isn't correct to call it
This would just be a tax for services
rendered."
Mr. Lemke added
an
assertion that this would
be constitutional.
to 100% of its value,
"The Government can and does tax property up
and it's constitutional," he
declared.
-
Security Act Viewed
Social
Federal
by Committee of American Bar Associatioiv--:Pro-»
Held Not Within Delegated Powers of Con-*
A report which views as unconstitutional in all its titles
the Federal Social Security Act will be laid before the Ameri¬
can Bar Association at its annual convention at Bostop on
The report which is that of a special committee
section, finds it clear that
Aug. 24-29.
of the Association's insurance law
within the delegated powers of
problem is one which the States must
their own conditions and policies. Ad¬
vices from Chicago, July 30 to the New York "Journal of
Commerce," from which we quote, state that aside from the
legal questions involved the Committee is "'clearly of the
opinion that no law should be enacted in any State which
would place a premium on loafing and grant rights to a
the Federal program is not
Congress and that the
solve in the light of
loafer."
'
The
Committee finds that
assistance is invalid under
provisions for grants to
States for old age
the AAA decision.
of family obligation and
community to which the aged
belong and, failing this, to the State of which they are citizens.
Even if
the fact is assumed that throughout the United States there are aged people
aged is primarily a matter
"Assistance to the
a
for
matter
the particular
requiring aid from governmental sources, this does not, under the decision
in the AAA case, change the nature of the expenditure from one basically
local to one national and thus
for the general
majority of the Committee agrees
welfare."
that grants ijn aid for purposes
the enumerated Federal powers tend to break
between State and nation by purchasing submission
wholly outside the scope of
down the distinction
to central domination.
>
.
enough to withstand this type of coercion must
receiving none of the bounty of the Federal tax money's
"Any State courageous
suffer the penalty of
contributed by it," it is
'
held.
.
.
is opposed to all our constitu¬
tional concepts and should not be tolerated."
The same reasoning applies, the Committee holds, to provisions for
"In principle
this form of encroachment
grants for aid to
dependent children, for maternal
aid to the blind.
Due Process Clause Violated
and child welfare, for
public health work and for
Considering the provision for direct
this violative of the
old age benefits, the Committee
and adds:
stances."
of annuities is clearly a matter
1
,
principles to unemployment compensation pro¬
the Committee likewise finds them invalid.
relationship of employer and employee is interfered with.
The
Applying the same basic
visions,
"The
plan requires every
State to relinquish its
sovereignty and adopt a law of
the State refuses to be coerced, its
citizens are subject to an onerous tax burden without resulting benefit.
The
object and effect of this Act can only be distraction of the sovereignty of
the States and the rights of their citizens, and it clearly transgresses the
limits of congressional power.
If unemployment compensation can properly
be made the subject of legislation, the right to regulate is certainly reserved
Federal dictation.
to the
No choice is open; if
States."
headed by John D. Black of
Chicago.
as
Presidential
Candidate of
5-Point Program—Living Wage
for Labor—Protection of Agriculture, Industry, and
Commerce Against Foreign Products
A dissenting
by one member of the Committee, viz.: Herman L.
said, maintains that by any fair test the Act
stitutional in every substantial part.
.
Chicago, who, it is
Lemke
finds
due process clause,
of private undertaking.
These provisions, by compelling every citizen not in an excepted class to
pay taxes for benefits which he may not need or want, are arbitrary and
unreasonable.
Further, the classifications of the titles both with respect
to the persons who are exempt from their operation and to the diminishing
percentage of benefits payable to larger contributors, are indefensible under
a Constitution requiring laws to operate alike on all in the same circum¬
"The payment
The Committee is
>:
the paper indicated we also
From the Chicago account to
quote:
report was filed
Representative
•
Unconstitutional
gram
The
opposed to governmental regulation of industry,
although so far he has been careful not to specify when, where or how.
As
in other particulars, he is content to rely upon generalities.
But, again
following the lead of the Liberty League and the great bankers and indus¬
trialists, he is against so-called regimentation.
He wants to return to the
era of Hover when free, open and unrestricted competition prevailed.
Yet
here is what Governor Landon said about competition in his speech de¬
QGovernor Landon
a
in part:
Presidential
seconding Mr. Lemke's remarks, was Thomas C. O'Brien,
and Mr. Lemke's running mate.
secondarily
the Interior Department
in the early summer of 1933 at the instance of President Roosevelt.
Gover¬
nor Landon had been designated by the Secretary of the Interior as the
Chairman of that conference.
In that speech he said, among other things:
Even the iron hand of a national dictator is preferable to a
My mind goes back to an oil conference held in
.
candidate, discussed this plank at
who is the Union Party's
citizen's
providing for civil
service.
tion to
The North Dakota Congressman,
confiscation.
corrective law on the statute books. '
As
thought about $500,000 would do for the limit the
Ekern,
is con¬
Union Party Offers
J*A 5-point program, which he promised he would develop if
elected President on the Union Party ticket was offered on
Aug. 1, at Grand Rapids,
Mich., by Representative William
gathering of farmers, according to the Asso¬
ciated Press, Mr. Lemke outlined his program as follows:
Lemke.
To
a
1.
A "living" annual wage for
2.
Protection
laborers capable and willing to work.
industry and commerce against
of American agriculture,
than living wages.
f 3. Civil service for all persons in governmental jobs except those in key
positions and concerned with the formulation of policies.
products from abroad produced at less
4.
Restoration of representative
5.
Conservation of water, lands
government.
and forests to give 2,000,000 families
permanent homes and prevent droughts by creating 300,000 lakes
basins between the Rocky Mountains and the Mississippi River.
and water
Suspension by A. F. of L. of Ten Unions Affiliated
with C. I. O. Effective Sept. 5—40% of Federation's
Membership Involved—John
mittee Will Not
Ten
L. Lewis Says Com¬
Disband
unions affiliated
with the American
Federation of
with-a total membership of more than 1,000,000
were suspended on Aug. 5 by the Executive Council of the
Federation, effective Sept. 5, unless before that date they
Labor,
the Committee for Industrial Organization,
sponsored by John L. Lewis, President of the
United Mine Workers of America, and which has recently
been active in recruiting members among workers in the
steel industry. Mr. Lewis, who is Chairman of the C. I. O.,
declared on Aug. 5 that his Committee will refuse to disband.
He termed the action of the Executive Council "incredible
resign
which
from
was
Financial
854
and
crass stupidity''and an "appalling
that his Committee would continue its
blunder," and said
organization efforts
in the
mass production industries.
Charges made by the Federation against the C. I. O.
were referred to in the
"Chronicle" of Aug. 1, page 677.
The membership of
the suspended unions represents approxi¬
mately 40% of the total membership of the A. F. of L.
The Council's vote for dismissal was 13 to 1, and
was
pre¬
ceded by an appeal of
David Dubinsky, President of the
International Ladies Garment Workers Union and a member
of the Council, who presented a compromise proposal.
His
was the only vote against suspension.
••
Mr. Dubinsky later assailed the Council for its "so-called
enabling rule to put a color of legality on this illegal pro¬
cedure," and said that the step was ' 'calculated obviously
to disenfranchise in advance a large majority of unions from
taking part in the next convention of the A. F. of L. and
being heard in their defense before the only proper tribunal in
organized labor qualified to pass on their guilt or innocence."
It is stated that the Council found the ten unions guilty
on all four counts of an indictment involving charges of
dual unionism, fomenting insurrection, breaking contracts
with the A. F. of L. and disregarding majority rule. William
Green, President of the A. F. of L. in a statement issued
Aug. 5 regarding the Council's action, said:
The
decision
the
of
Council
Executive
to
organization (the C. I. O.) within 30 days unless they withdraw therefrom
that said
means
organizations are required to
discontinue holding
membership in and to
do nothing
cease
than to
more
fostering, financing and
maintaining a dual, rival organization within the A. F. of L.
The statements of
Mr.
Lewis
given
further below. Another statement was issued by Daniel J.
Tobin, President of tjhe International Brotherhood of Team¬
sters and
member of the Executive Council.
a
said that the action of
the
are
Mr. Tobin
Council would not weaken
The result of this
division
will in time
bring about greater efforts to
build up and strengthen the forces of labor economically and politically;
The rank and file of the membership will not suffer, but on the contrary
they will be awakened
and
thereby take
From
to
a
realization of this apparently serious division
unions
Council will have
There
was more
serious effect.
no
thoroughly determined to take
campaign.
temporarily
never
was a
by the
of this
the
Executive
time in which labor
on
both sides
by the present administration to place
on
the statute books
humanitarian legislation.
Mr.
is
Dubinsky,
"blow
a
to
economic virtues and benefits.
But
aside from
of the
on
advance
a
He continued:
the
undemocratic
Executive Council,
and
%
and
high-handed
being heard in their defense before the only proper
I
consequences
division
and
ruin
which
this
action
the
of
Council is likely
to
There is
Having arrived from Europe only yesterday, I could only attend this
meeting of the Council, and at this final session I made an earnest
effort to postpone the unfortunate decision.
I proposed to the Council on
behalf of the International Ladies Garment Workers Union that the
charges
and action against the C.
of that
order
our
no
the
assure
I.
what that
matter
Council
of
the ranks of organized labor we
by
a
two-thirds
The
The
our
decision would be,
sincerity and
were
eagerness
and that in
for
ready to forego the right of
majority and would accept
majority.
decision
a
even
vYY
unity in
by
bare
a
Aug. 5:
on
How
a
of
Labor
decided
dual organization and
Lewis, President of the United
<a
reached after the. Executive Council had made
This is the first attempt ever
made,
Federation of Labor, covering
a
careful
a
during the existence of the American
period of
more
than 50 years,
to set up a
dual movement within it.
It was the opinion of the Executive Council
that it could not condone the
setting up of a rival organization within the
officially recognized family of labor,
its self-respect, or making; an
minority group composed of members who
procedure and majority rule,
as
unconditional
are
in open
surrender
to
Federation of Labor.
-
The Executive Council is fully conscious of the grave situation
within the family of
created through
the
of a dual movement must accept responsibility
for their action.
Inspired by
Council
sincere desire to heal' the breach which has been created
a
and solidarity within the ranks of labor the Executive
the representatives of the organizations holding
pleaded with
I.
membership in the C.
to dissolve their dual organization and to
O.
abandon the labor-splitting policy upon
Through
C. I. O.
exemplified at the latest convention
Executive
means
to
Council
(the C.
that
I.
to
O.J
suspend those organizations
within 30 days unless
they
said
discontinue
American Federation of Labor.
The decision
means
just that and nothing
else.
1935, when the
under most trying
When it extended a cordial
and difficult circumstances.
the organizations holding membership
the representatives of
invitation to
in the C. I. O. to meet with it on
July 8, 1936, for the purpose of acquaint¬
ing the members of the Executive Council with their reasons for refusing
the request of the Executive
the Council hoped that
Council to dissolve their organization set-up,
through such
conference a settlement could be
a
reached which would be fair and just to all.
for
the
invitation
conference
a
was
of the Executive Council
was
refused,
request
treated with
Federation of Labor between conventions was
the American
its
spurned and its authority to administer the affairs of
contempt.
Thus the issue has been clearly
A
When ambitious
form
men
loss of membership could not be
mere
vital principle was at
a
The Executive Council has met
drawn.
definite and decisive way.
a
considered when
stake.
dual, rival organization for the purpose of
a
forcing the acceptance of minority rule within the American Federation of
part of the American Federation of Labor.
The
An
following is
act
the
the
for
issued by Mr. Lewis:
statement
An act dictated by personal
of incredible and crass stupidity.
well-being of the
It indicates
total absence of consideration
a
Nation's workers
and the requirements
of an
effective movement of labor.
Executive
The
Council
would
not
trust
the judgment of a
It hastened to prejudice the
of the Federation which meets in November.
action
convention
of the convention by stripping the defendant unions of their voting
privilege.
The constitution of the Federation contains no warrant for the exercise
Green and his
It amounts to an appalling blunder which Mr.
confederates
We will not disband
continuously rue.
may
the Committee for Industrial Organization.
The decision of the Executive
Council will not change the policy of the C. I. O. nor will it have any effect
the organizing activities of the committee.
upon
The committee has made its position clear.
in
steel
act
and
other
of dismemberment will lie
answer
to their own
Its plans to aid the workers
continue unabated.
industries will
the beads
on
The shame of the
of the Council,
and they
can
membership.
A
Washington dispatch of Aug. 5 to the New York '.'Herald
Council's action in part as follows:
Thus,
the
labor
new
United
the
in
movement
States
suffered
a
complete
Lewis free to proceed with his own organization
paths for American labor.
Ahead of him were not only the vast
fields of ununionized workers whom the confident miners' chieftain would
rally around his standard, but the potentialities of
new
man
political
for President Roosevelt, Mr.
the twin objective
success
barked.
in
outstanding campaign spokes¬
Lewis stakes his immediate fortunes on
of victory for the
the steel .unionization
an
action and a
"H*
labor party, with Mr. Lweis at its head.
President in the next election and
drive upon
which the C.
I.
O. has em¬
Reluctant though they be to admit it, his political objective is
generally recognized
represented
theory that
in
a
the
as
driving the craft union leaders of the A. F. of L.,
Executive
Council,
in
the
opposite direction
Roosevelt triumph is a triumph for Mr.
List
The unions
on
the
Lewis.
of Unions Involved
due to be suspended and the
number of their members as
of the 1935 convention follow:
Amalgamated Clothing Workers, 100,000.
Workers, 79,200.
Oil Field, Gas Well and Refinery
«
.
160,0001
C-
K
Workers, 42,800.
International Union of Mine, Mill and Smelter Workers, 14,600.
Federation of Flat Glass Workers, 10,000.
Amalgamated Association of Iron, Steel and Tin Workers, 8,600
United Automobile Workers (new union).
Because
which
10,
formed, the Council has shown great patience and forebearance
United Mine Workers, 400,000.
organizations are required to do
holding membership in, and to cease
fostering, financing and maintaining a dual, rival organization within the
than
Nov^
the months intervening since
all
was
International Ladies' Garment Workers,
therefrom
Every
extended to meet and confer was refused.
United Textile
more
which they had embarked.
made was rejected and every invitation
Executive Council
the
request
ship in the dual organization
withdraw
Those who split and divide
the formation of the C. I. O.
from affiliation with the American Federation of Labor
which hold member¬
nothing
existing
organized labor because of the breach which has been
labor through the creation
a
rebellion to demo¬
of the American Federation of Labor.
of
plan and
interested must look to some other source for the
why a dual organization has been set up within the American
real reason
or tolerate and countenance it without
sacrificing
decision
one
Because industrial unionism versus craft unionism
being against the other ?
Linked with trie New Deal and become
study of the charges filed by President Frey, of the Metal Trades
Depart¬
ment, against the C. I. O; and of the evidence offered in
support thereof.
The
be charged with supporting
If it favors both plans how can it
is not the issue, those
along
Federation
Mine Workers of America.
cratic
industrial unionism versus craft unionism be the issue when the
can
Federation has never taken a position in favor of one as against the other ?
cleavage which left Mr.
■
.,
Executive Council of the American
was
work of the American Federation of Labor as
execution of the organizing
conventions.
Tribune" described the
|\
that the Committee for Industrial
Organization is
that its originator and leader is John L.
This decision
.
wide opportunity to apply both forms of organization in the
a
decison
a
following is the statement issued by Mr. Green in
behalf of the Council
Labor.
As
with the American
organized upon an industrial and some upon a
defined and directed by a majority vote of the delegates in attendance at
O. unions be deferred to the next convention
organization would stand ready to abide by the decision
convention,
to
are
affiliated
organizations
some
of such arbitrary power.
last
Tampa; that
Labor
of
craft union basis.
bring
upon all our unions.
in
fact
selfishness and frantic fear.
technical side of
calculated obviously to disfranchise in
tribunal in organized labor qualified to pass on their guilt or
innocence,
voted against suspension also as a protest against the grave
of
this
the American Federation of
work of
organizing
of
Federation
large minority of unions from taking part in the next convention
of the A. F. ofL.
the
all
evidence
their
*-
craft forms of organization are widely applied
the industrial and
Both
in
labor," and he asserted that the Council had exceeded its
this act
validity of both forms of organization and convincingly extols
the
Labor, the Executive Council decides they cannot do so within and as a
the other hand, said that the suspension
unity in the ranks of American organized
legal authority.
of the American Federation of Labor stoutly defends
The membership
dispute will support the present administration, because of the ef¬
made
The decision of the Executive Council means they
both organizations at the same time.
cannot belong to
it in
.
are
They may choose whether they will remain
lot with the dual,
dual union.
rival organization.
serious interest in the political
a
My opinion is that the largest number of labor leaders
forts
or
Instead, they
They are not asked to give up industrial unionism.
asked to give up a
with the American Federation of Labor or cast their
But
political standpoint the division in the labor movement
a
suspension of several international
industrial unionism.
their endorsement or espousal of
interest in the organization.
a greater
I. O. asked to withdraw
organizations which hold membership in the C.
or
destroy the efficiency of labor, but would result in intensified
labor organization effort by both sides to the controversy.
He added, in part:
organization, nor of any of the
of either the industrial or craft form of
and to maintain unity
Green and
Mr.
suspended from affiliation with the American
No organization will ever be
The decision
just that and nothing else.
means
Aug. 8, 1936
Federation of Labor because its members believe in or advocate the accept¬
ance
suspend those organizations
F. of L. which hold memberhsip in the dual
from affiliation with the A.
Chronicle
there seems to be
arose
out
public misunderstanding of the real issue
of the formation of "the C. I. O., the Executive Council
a
declares in most positive terms that the industrial
is in no way involved in its official decision.
versus
craft union
dispute
United Rubber Workers (new union).
The two unions called upon to explain
their exact status are:
International Typographical Union, 73,400.
United
Hatters, Cap and Millinery Workers, 21,400.
>
<
Financial
Volume 143
was
the only one which
was
William Green,
did not constitute
President of the A.
a
evils.
Pierpont Morgan, head of J. P. Morgan & Co., arrived
Southampton, England, yesterday (Aug. 7) aboard his
yacht Corsair, it was reported in Associated Press advices
from Southampton, which added:
in
he
Two members
presiding officer, but he approved the action taken.
of the Council were absent.,
"I feel fine.
Typographical Union,
Charles P. Howard, President of the International
is
Secretary of the C.
is
acting in a personal
United
the
I.
C.
Asks
;■
The Council statement
.
.
read by Mr.
was
picture
ii.,
F. of
Federal
Before he began
no
Under
1
the
A.
F.
L.
of
fall.
next
<
Federation law.
of
the
rebel unions,
Apparently this will depend on a credentials
committee of three named
old-line
Green in accordance with established
by Mr.
The machinery
Federation
of the
convention is
If the
chiefs.
Vice-President of the
Chicago, Effective Sept. 1, was
by the Bank on July 31, which, at the same time,
made known the appointment of C. S. Young, Assistant
Federal Reserve Agent, as Mr. McKay's successor.
Mr.
McKay, who has been Vice-President (formerly known as
Deputy Governor) of the Bank since its organization, will
be retired on a pension.
On July 31 announcement was also made by the Board
would be able to participate in the Tampa convention of
suspended,
Reserve
announced
in good part, he insisted that he could not say whether the
if
was
as Vice-President o>f Chicago
Bank
Effective
Sept. 1—-C. S.
The retirement of C. R. McKay as
barrage of questioning which Mr. Green did not always take
a
Hertfordshire.
home at Aldenham,
Mr? Morgan^orTjuly 29 fronThis estate
Federal Reserve Bank of
serious implication as to discrimination
in the distribution of news.
party of six which accompanied him
Young Appointed Successor—Other Appointments
Later Mr. Green
and could show their cards.
a
W
speak, Mr. Green said his associates had asked if the newspaper men
explained that his remarks had
With
McKay Retires
C.; R.
covering the event were all members of the Newspaper Guild, now affili¬
ated with the A.
his trans-Atlantic trip except to add that the
\
in the room in the
Hamilton Hotel where the Council members had met.
on
near Glen Cove, L. I., for his annual vacation abroad,
reported in our issue of Aug. 1, page 680.
.
Green to newspaper men in
cameramen
glad to be back in England again," was the extent
-vThe departure of
for Reporters'Cards
the glare of flood lights for motion
am
from America he motored to his country
but its cap and millinery department,
O.,
which has 70% of the union's membership, admits affiliation.
to
The
capacity and has not committed his union.
I
Morgan's comment
yacht performed excellently.
Cap and Millinery Workers Union has contended it is
Hatters,
affiliated with
not
of Mr.
O. and an ardent Lewis man, but he asserts he
I.
on
Trip
J.
form of surrender to the
of L., did not vote because
F.
Pierpont Morgan Arrives in England
Vacation
miners' chief and his associates, it was decided.
was the
855
concluded that although every
alternative w;as ominous the course chosen was the least of several
It
J.
suspension"after three full
The Executive Council made its decision on
days of painful deliberation in which it
Chronicle
credentials
thus in the hands
committee reports
against seating delegates of the suspended unions, the rest of the conven¬
of Governors of the Federal Reserve System, at
tion, excluding the contested delegates, will have sole authority to pass on
Washington,
of the
appointment of Carl Schelling as Assistant Federal
Reserve Agent at Chicago and Bernard L. Raether to the
same position at the Detroit branch of the Chicago Reserve
the credentials report.
Mr. Green explained that suspension of the unions would
be automatic
Sept. 5 if written notice of the disbandment of the C. I. O.
on
from it
In
was not
withdrawal
or
Bank.
received.
Washington
*
July 31 President Green, at a luncheon at
the National Press Club, offered "to make any sacrifice, even
resign my position
." to unite the forces of American
on
.
.
The Board of Governors
labor.
Ohio,
^
of Cleveland
of the Federal Reserve System
July 31 appointed George C. Brainard, of Youngstown,
on
Philadelphia "Inquirer" Bought by Moses L. Annenberg for $15,000,000—Publisher Says Paper's Re¬
publican Policies Will Continue
♦
G. C. Brainard Appointed Class C Director
Federal Reserve Bank
a
Class C director of the Federal Reserve Bank of
Cleveland for the term expiring on Dec.
is
Brainard
President
of
the General
Mr.
31, 1937.
Fireproofing Co. of
Youngstown.
Moses L.
Annenberg, publisher, announced on July 31
purchased the Philadelphia "Inquirer" and its
real estate for $>15,000,000. Mr. Annenberg, a former Hearst
executive, bought the paper, the oldest morning publication
in Philadelphia, from the Elverson Corp., which is controlled
by Mme. Eleanore Louise Elverson Patenotre 'and her son,
Raymond, of Paris. Mr. Annenberg denied reports that in
making the purchase he was acting, on behalf of William
Randolph Hearst, and he said that the former Republican
policy of the paper would be continued. A Philadelphia
dispatch of July 31 to the New York "Herald Tribune"
that he had
commented
the transfer
on
as
follows:
The Republican editorial policy of "The Inquirer" will "most likely not
be
changed," according to
Taylor,
and
immediate
no
Mr.
Annenberg's confidential
shakeup in
Annenberg will take charge of the
completed, it
"
as
soon
Secretary,
Jay
is
contemplated.
as
the sale is formally
personnel
paper
Mr.
said.
was
'The Philadelphia
Inquirer* is one of the best known papers in the
country and I am going to strive to make it better," Mr. Annenberg said.
"The
Inquirer"
Walker.
R.
In
in 1911.
He
Elverson
Jr.
was
first published in 1829 by John Norville and John
1889 it was bought by Colonel James Elverson, who died
succeeded in its management by his son, Colonel James
was
Mme.
Patenotre inherited
the
newspaper
on
her
brother's
J.
T.
Appointed
Lynch
Regional
Administrator
in
Charge of Chicago Office of SEC
The Securities and Exchange Commission announced on
July 24 that Thomas J. Lynch, of Toledo, Ohio, Assistant
General Counsel in charge of litigation,-has been appointed
Regional Administrator in charge of the Chicago Regional
Office of the Commission, to replace Thomas A. Reynolds,,
who has resigned to return to the private practice of law.
Mr. Lynch, who was appointed Assistant General Counsel
April 8, 1936, has been a member of the Commission's legal
staff since October, 1934, and has been in charge of many of
the most important cases in which the Commission has been
involved, the announcement said.
He was graduated from
the University of Michigan in 1922 and from the University of
Michigan Law School in 1925.
He then became associated
with the law firm of Marshall, Melhorn & Marlar, of Toledo,
becoming a partner in that firm in 1932.
The Chicago office is headquarters for the regional zone
which includes Illinois, Ohio, Michigan, Indiana, Wisconsin,
Minnesota, Iowa, Missouri and Kentucky.
death in 1929.
Once Owned by Curtis
"
In March, 1930, the newspaper property was sold to the Curtis-Martin
Newspapers, Inc., of which the late Cyrus II. K. Curtis
Public Ledger"
Philadelphia
and after
1934,
600,000
the
Sunday
merger
and
was
merged with
"The
daily.
October,
In
head.
a
1934,
circulation
the
C.
of
P. Anderson,
Named
Commission
United
Between
Chandler
and
Mixed
World
War
Claims
Claims
Germany—Authority
P.
Anderson, who for forty years served the
an authority on international law, died at
home at York Harbor, Maine, on Aug. 2.
He
United States
summer
69
was
States
of
,
International Law
on
his
Member
Settle
to
of
Patenotre
family bought the paper back from the Curtis-Martin interests.
Death
as
of
years
age.
international law as
Commission in 1896.
Mr. Anderson began his
in
career
secretary to the Bering Sea Claims
In 1898-1899 he became secretary to
the Joint High Commission named to settle points of con¬
tention between the United-States and Canada.
In report¬
a
ing other capacities in which Mr. Anderson served,
a
Resignation of Albert Levitt as Judge of Virgin Islands
—Named as Special Assistant to Attorney General
Cummings
"The
Inquirer" in April,
"The Inquirer" advertised
275,000
was
Aug. 1 by
by direc¬
tion of President Roosevelt, the resignation had been accepted
of Albert Levitt of Redding, Conn., as Judge of the Virgin
Islands and that Mr. Levitt had been named as a special
assistant to the Attorney General.
It is stated that in his
new post Mr. Levitt will
be assigned to work in the office
Announcement was made at Washington on
United States Attorney General Cummings that,
of the Solicitor
Panama Canal Falls-
The commission
in
Increase
Roosevelt, appointed him special counsel to the Department of State
United
States
in
on
a
was
was
was
a
member of the
United
case
with Canada, reached at The Hague in 1910.
by
The
legal adviser to the American embassies in Europe early in
United
Washington in
States
legal
1921-22.
expert
at
1.04%.
the War Industrial Board.
the
Disarmament
which
was to
settle world
between the United States and Germany.
was
Hd
Conference in
'
South
issues
'
Formed to Combat "Unsound Propaganda"
Banking Reform—J. E. Goodbar Heads Society
for Stability in Money and Banking
New Group
on
Since 1923 he had been a United States Com¬
missioner on Mixed Claim Commission
Mr. Anderson
European issues in the Index fell 0.04% while the 16
American issues rose 1.43% and the four Australasian
during America's participation from 1917 to 1918 he
counsel on international questions for
the
Foreign dollar bonds advanced during July according to
Foreign Bond Associates, Inc. Index of 50 representative
issues, which stood at 58.07 on July 31 compared with
57.77 on June 30.
It was announced Aug. 3 that the 30
He
headed by Mr. Root which settled the fisheries
fishing off the coast of Newfoundland and Labrador.
was
During
the
fisheries case concerned the right of the United States fishermen to in-shore
He
Reported
and international law concerning Great Britain and
arbitration agreement
the world war, and,
Foreign Dollar Bonds
July Over June
North America.
matters of diplomacy
States delegation
named by President Roosevelt to
question of proper tolls charged to ves&els using the
water way, reached Balboa, Canal Zone, on Aug. 5.
The
departure of the commission from New York on July 28,
was noted in our Aug. 1 issue, page 680.
the
In 1905 Elihu Root, Secretary of State in the administration of Theodore
an
Study
Arrival at Balboa, Canal Zone of Commission to
dispatch
from York Harbor to the New York "Sun" said:
the
Generaljn Washington.
born in Lakeville, Conn.
war
claims
Society for Stability in Money and Banking completed
organization on Aug. 6, with general headquarters in
The
its
856
Financial
Chronicle
New York
Aug. 8,
1936
City, and elected as President Joseph E. Goodbar
of New York and Boston, attorney and monetary authority.
Countries."
In
stitute
has
prepared
a
series of
pamphlets
covering
especially the New Deal recovery program.
The first four,
which deal with various aspects of the recovery program
since 1933, are as follows :
discussing the purposes of the Society, Dr. Goodbar
emphasized the fact that it is to be strictly non-partisan, or
more accurately, pan-partisan, and will include all
groups
which stand for stable money, and for sound banking free
from the defects that contributed to the depression.
It was
and
needed
is
worked-out
makes
this
willfgain
particularly
it
be offered as an
proposals
name
important
that
antidote $o the patent
the
of
of
some
the
of
soundly
■
an
.
and
Lockwood
W.
Foreign
Lockwood
Washington, Pullman, Wash.,
of
the first annual Pacific Northwest
presents
Bank¬
on
University
of
Oregon;
H.
Professor
State College
of
E.
of
F. Dummeier, Professor
Washington;
Blair
of
>
College; Benj. N. Phillips,
President of the First National Bank, Port Angeles, Wash.;
Reed
Economics,
R. H. Farmer, Dean of the School of Business Administra¬
tion, University of Idaho; R. R. Renne, Professor of Eco¬
nomics, Montana State College; A. L. Mills Jr., Vice-Presi¬
dent of the United States National Bank, Portland, Ore.;
M. D. Hamilton, Superintendent of Pacific Coast Branches,
Canadian
Bank
of
Commerce,
Vancouver; W. F. Gabriel,/
Assistant Vice-President of the Wells Fargo Bank & Union
Trust Co., San Francisco, and Jay Morrison, Vice-President
of the Washington Mutual Savings Bank, Seattle.
Refer¬
to the remarks of Mr.
Szymczak
was
made in
our
issue
April 11, page 2432.
♦
inancial Advertisers' Association to Hold Annual Con¬
vention in
The
human
side
Nashville, Jenn., Sept. 14-17
finance as distinguished from the
operation of banks, investment houses and trust
companies will be the dominant note of the twenty-first
.
of
technical
annual
convention
of
the
national
Financial
Advertisers
Association, to be held in Nashville, Tenn., Sept. 14-17, it
was
announced July 29.
Thomas J. Kiphart, advertising
of the
manager
Chairman
and
a
it
as
of
Fifth-Third
the
Nashville
Vice-President of
is, the
program
Union
Trust
convention
the
Co.,
Cincinnati,
program
committee
Association, reports that early
is very well
advanced.
An
unusual
States,"
by
the
of
United
staff.
States,"
Since
1931," by J.
R.
by
William
W.
Stewart, American expert.
may
be obtained from the Insti¬
Street, in New York City,
at nomi¬
ABOUT
BANKS,
TRUST
COMPANIES,
&c.
Luis A.
Stieglitz and the
Deetjen, the Exchange an¬
A net advance in price from last previous sale of
*
K.
Stewart,
United
The
Assistant Professor of Economics, University
of
Montana; H. H. Preston, Professor of Money and Banking,
University of Washington;
the
S450.
Snell,
Economics,
in
Council
the American
129 East 52nd
nounced.
The "Bulletin," which may be
the addresses of M. S. Szymczak, a member of the Board of Governors of the Federal
Reserve System;
0. K. Burrell, Associate Professor of
Administration,
Relief
the first at S3,200 from the Estate of A.
obtained at $1 a copy, contains
Business
of
Policy
second at S3,450 from
April 9, 10 and 11.
campus,
Farley
Mr. Simon J. Shlenker of E. A. Pierce & Co. purchased two
New York Coffee & Sugar Exchange memberships July 31,
the proceedings
Conference
S.
nal cost.
ing, which was sponsored by the School of Business Admin¬
istration of the College and held on
the State College
of
at
ITEMS
of
by Miriam
Jr.
"Monthly Bulletin" for July, 1936, the State College
In its
ence
Jr.
Copies of the pamphlets
tute
Pull¬
in
Unemployment
Trade
+—
Proceedings of First Annual Pacific Northwest Confer"
ence on
Banking Made Available by State College
Place
Deal,"
Gayer, formerly connected with the; Public Works Administration.
"Manchuria
Took
former member
a
*
the New
More directly bearing on America's foreign relations are:
and Trade Rivalry Between the United States and Japan,"
/by
William
in bank credit control.
Washington—Conference
man, Wash., April 9-11
by Dr. Robinson Newcomb,
Under
Council staff.
Works
D.
"The
intelligent and co-ordinate revision in banking practice and
of
Recovery Administration,"
"Trade
money/and correct banking procedure, and by thus
bringing order out of the chaos of conflicting opinions on the subject, to
bring about
of
„
Arthur
additional adherents among the noninformed.
sound
documentation
the
staff.,;'
American
"Public
panaceas
Another fundamental objective of the Society is to formulate an acceptable
standard for
to
Kreps of Stanford University.
NRA Worked,"
the
NRA
"Agricultural Adjustment
Otherwise, the force of repetition and appealing
everywhere in evidence.
oratory
that isjbeing spread in the
The public feels definitely that banking reform of
banking reform.
kind
Theodore J.
"How
for the formation of the Society is to combat
the unsound, dangerous propaganda
contribution
,
by Dr.
reasons
its
discussions, the American Council of the In¬
"Business and Government under the National
further announced:
Among the primary
As
the conference
membership of Duncan Dunscombe on the N. Y.
Commodity Exchange, Inc., was sold July 31 to Tudor
Simpkins, for another, at $1,200—unchanged from the last
previous sale which took place on July 30 when the extra
membership of Armond Schmoll Jr. was sold to Milton R.
Katzenberg, for another.
/
Three
I
♦
memberships
the Chicago Board of Trade were
sold:
The first on July 31, at $4,500 up $100 over the
previous sale; the second, on Aug. 5, at $4,850 and the
third, on Aug. 6 at $5,000.
r
A seat
on
$12,000,
up
on
the Montreal Curb Market
$1,900 from
July 23.
■. ■-
the last
was
sale
sold
which
Aug. 2, at
place
took
:
'
George Hicks Walbridge, engineer and banker, died on
Aug. 5 at his home in New York City, at the age of 66 years.
Following his graduation from Cornell University in 1890,
Mr. Walbridge became Vice-President of J. G. White &
Co., now the J. G. White Engineering Corp. He resigned in
1902 to engage in general engineering
practice, but in 1907
became President of the Colorado Power Co., in
charge of
constructing hydro-electric power plants.
In 1911 he left
this
firm
and
became
associated
with
Bonbright & Co.,
engineer.
He became
Vice-President of the banking house in 1914, serving until
1920.
Since that time, Mr. Walbridge has been active as
a consultant
engineer, having offices at 1 Wall St. At his
death, in addition to being a director of the J. G. White
Engineering Corp., he was also a director of the American
Power & Light Co., the Haskelite
Manufacturing Corp.
and the Royalties Management
Corp.
investment
bankers,
as
consultant
feature will be
a session devoted to the discussion of what
State Bankers Associations have done and can do to further
bank public and customer relations.
The secretaries of
several State Associations who have done
outstanding jobs
in their respective States will be heard and in
summary, a
bank public relations director will indicate how Financial
Advertisers Association
respective
members
can
^cooperate with their
State Banking Associations.
Other features of
the program will be
a
annually presents the
tour of the
cream
all sections of the United
advertising exhibit which
of financial
advertising from
States; special departmentals for
members particularly interested in
developing savings, com¬
mercial and trust business
;-a conference entitled "Public
Relations
in
Banking," with speakers on such detailed
phases as advertising, selling,
publicity, customer contact
and employee
training, a talk giving the results of a survey
"what most people don't know
about banking."
Robert Sparks, Vice-President of the
on
Bowery Savings
Bank, New York, is President, and Preston
Reed, Chicago,
is Executive
Secretary of the Association, which consists
of the
advertising, business development and public rela¬
tions executives of the
leading banks, trust companies and
investment houses of the United States
and Canada.
Sixth
International Conference of Institute of Pacific
to Be Held at
Yosemite National Park,
Aug. 14 to 29—American Council of Institute
Prepares Series of Pamphlets on New Deal Recov¬
Relations
ery
Program
14
were
for
held
"Trust
Aug. 3 for Roy R. Bixbv,
Companies Magazine," who
died of
a heart attack On
July 30 at this home in New York
He was 49 years of age. Mr. Bixby was born in Kan¬
and was well known in California banking circles. He
City.
sas,
traveled
and
extensively throughout the United States lecturing
serving as trust consultant to many of the largest banks.
Prior to his association with "Trust
he
was
President of R.
Companies Magazine"
Bixby, Inc., and conducted his Short
Course in Trust Department Operations.
Leopold Fredrick, formerly active in New York financial
circles, died on July 31 at Aix-Les-Bains, France, at the
age
of 60
years.
with the law firm
Mr. Fredrick, who maintained
of
an
office
Davis &
Wagner, at 120 Broadway,
relinquished his directorships in various American corpora¬
tions in 1923, devoting himself to his own business and
spending much of his time in Europe.
A native of Polstrau,
in southern Austria (now
part of Yugoslavia), Mr. Fredrick
began his career in 1896 with the Ministry of Finance at
Vienna, and in 1900 was appointed by his Government as a
Secretary to the Paris Exposition.
Two years later he came
to New York as an
employee of the National City Bank
and in 1907 became Manager of the
foreign exchange depart¬
ment
of the
National Bank of
1920 Mr. Fredrick served
as
Commerce.
Treasurer and
From
a
1911 to
director of the
American
Smelting & Refining Co.
During the World War
(to quote the New York "Times" of Aug. 1) he was instru¬
introducing the dollar exchange in Chile.
of
Park,
to 29, the Institute announced in New York on
July 29.
The general subject of the conference is
"Aims
and
Results of Social and Economic Policies in
Pacific
services
Consultant
mental in
The sixth international conference
of the Institute
Pacific Relations is to be held at
Yosemite National
Aug.
Funeral
Trust
Manufacturers Trust Co., New York, announced this week
that
Godfrey L. Troutman at the 39th Street office has been
an Assistant
Secretary.,
elected
Volume
George
The Bank Commissioner of
National
White, President of the First
N. Y., and one of Otsego
Harvey
ink
Cooperstown,
First National Bank of Cooperstown and
subsequently served the institution successively as Cashier
and Vice-President until 1920, when he was elected ^Presi¬
director of the
clubs, among them the Bankers
makes
This
American
of shares and increase the
A
bank's
capital
the
of
announced
was
institution,
of the
Mass.,
by the Comptroller of the Currency, it
in
the
111., bank, to be known as the Central
Chicago, was chartered by the Comp¬
troller of the Currency on July 21.
William H. Regnery is
President of the new institution, which is capitalized at
A
The Boston "Herald," from which
October
made in
be
form
due.
sum
dividends
of
will
and
about
to
40%
the
of
30, Circuit Judge Stanley H. Klarkowski signed
the sale of all of the assets of the defunct
West Irving State Bank of Chicago to the West Irving State •
of
July 30 went
"
to say:
on
*
,
Due to the length of time necessary to complete the preparation of
dend
schedules and receipts,
checks,
checks will
a
divi¬
the dividend
of
Gilbert
A.
40% paid to creditors, and will amount
total of
approximately $250,000, or
to the creditors in the form of
.
distribution
the
probably be made during October.
This dividend will make
to
Liquidating Corp. for $154,705, thereby providing funds for
100% payment of all depositors who have not assigned
their claims to
the liquidating concern.
The Chicago
"News" of July 30, in noting this, went on to say:
The order was entered on a petition
filed in behalf of Charles H.
Albers, receiver for the bank, by Attorney. Samuel P. Gurman, and will
result in the
termination of the receivership.
Depositors of the bank
already have received 10% of their claims and the remaining 90% will
be paid as soon as arrangements can be made, it was stated.
The liquidating, corporation was formed by some of the largest creditors
of the bank, who in many cases also were heaviest stockholders and who
accepted stock in the corporation for their claims against the bank.
The
assets will be disposed of over a period of time and the proceeds, applied
toward the payment of the claims of those who have waived their claims
a
In noting this, the Boston "Herald"
troller of the Currency.
a
total of approximately $2,000,000 repaid
,
dividends.
for
Harrington,
past 16
the
years
Trust
a
Officer of the Rhode Island Hospital Trust Co. of Provi¬
dence, R. I., retired from active business on July 31, after
having been connected with the institution for 43 years, it
learned
is
from
Providence
the
"Journal"
of
that
of
the company
.
many
years
voted a resolution of appreciation for his
of service, and he was presented with a gold
watch by his fellow officers as an expression
of esteem.
the
Commonwealth
Co.
Trust
of
Pittsburgh, Pa., to
become Assistant General Counsel of the Allegheny County
Authority.
Announcement
made
was
on
of the
July 31 by Luther A. Harr,
smaller depositors.
portion -of which has
amounting
$104,697,
to
will be distributed
or
Aug. 14 to the 7,735 depositors of the
on
of Philadelphia.
This pay¬
ment will be the fourth the depositors have received since
Trust Co.
Haddington Title &
institution
the
total to
which
The
we
third
payment
Reconstruction
1936, the
The
ing
lean
increase
from
real
this
in
the
possible,
in
and will
by
part,
Corporation amounting to
the value
RFC
amount of
of
cash
dividend
fourth
of the assets
bring the
from
loan
a
$288,577.
pledged to
market enabled Dr.
The
$102,465.
in
of
By
the
June
secure
30,
possession
of
improvement in the
Harr to obtain
proceeds
the
the loan result¬
of
this
an
loan,
additional
added
deputy receiver, makes
to
10%.
numerous
"Chronicle" of July 2, 1932, page
Co.
of
Pittsburgh,
Pa.,
effective
in
charge of the trust department, succeeding in this capacity
Kenneth
dent in
law.
Buffington,
who
recently
resigned
as
Vice-Presi¬
charge of trusts in order to resume the practice of
In
noting
Mr.
Munroe's
advancement,
"Money
Commerce" of Aug. 1 said that he has been with the
Trust Co. since Dec.
Trust Officer.
"
-
and
Colonial
1, 1929, when he was elected Assistant
•
V
* '
the
was
71.
from Freeport, 111., on July 22
final payment to depositors of the closed
First National Bank of Freeport would be made shortly,
according to Arthur Crum, its receiver, bringing the liquida¬
tion to 100% of deposit claims.
Mr. Crum added, the dis¬
patch said, that interest on deposits might be paid later. •„
Associated Press advices
reported
that
'
4
Mich., reopened
the Union
Guardian
capital of
$100,000, debentures of $123,000, and surplus of $20,000.
Harvey C. Emery is President of the reorganized bank;
George II. Kirchner, Vice-President; Adolph F. Klein, Sec¬
retary and Treasurer; John Petroskey, Assistant Secretary
and Assistant Treasurer, and William Jaenichen, Assistant
The Michigan
Industrial Bank of Detroit,
The institution, which is located in
Bailding,
resumes
business with
Aug. 3.
on
approaching reopening of the in¬
In noting the
Treasurer.
"Free Press" of Aug. 2 said, in part:
The reopening of the bank was authorized by Judge Adolph F. Marschner
and
Howard C. Lawrence, State Banking Commissioner.
Its depositors
have cooperated to the fullest extent.
The bank reopens clear of all past
obligations and, under the supervision of the State, is prepared to function
as a strictly
industrial banking institution, meeting the needs of individuals
who are in
need of small loans either to meet emergencies or to take
stitution, the Detroit
advantage of
Trust
became Senior Trust Officer of the institution
1,
a
possible
;
of the West Irving State Bank (one of
Chicago banks which failed in June, 1932)
The closing
III, heretofore one of the Trust Officers
Colonial
the
Aug.
7, 1931,
had been reduced tb $141,402.
Robert Munroe
of
made
was
Finance
and mortgage
from
small
Oct.
on
the rise of security values and the general
estate
loan
closed
The Philadelphia "Inquirer" of Aug. 1, from
quote, likewise said:
7'7.7:7
61%.
approximately $217,000, a
been waived under the plan.
State Secretary of Banking for
Pennsylvania, that dividends
10% of the deposit liability,
'
present total
deposit liabilities at
Unpaid
noted in the
It is learned from the Pittsburgh "Post Gazatte" of Aug. 1
that R. G. Fiscus has resigned as Assistant Trust Officer
of
favor
in
date.
Upon accepting Mr. Harrington's resignation, the directors
order for
an
Comp¬
their claims, had been authorized by the
proved
'
1
On July
the Boston-Continental
Boston, Mass., announced on July 30 that
third dividend of 5%, payable to all creditors who have
,
,
»
teridk S. Dei trick, receiver of
itioi laFBank,
in
Bank
$200,000.
bring - the total paid to
$2,000,000, or
Chicago,
new
National
•
•
.
of the new bank.
respectively,
of the
Dietrick, receiver
S.
Frederick
by
will
Distribution
whole
.
.
July 31 granted a
Bank of Chicago,
Chicago, 111.
The new organization, which represents a
conversion to the National system of the Upper Avenue
Bank of that city, is capitalized at $200,000.
Henry C.
Murphy and Ralph N. Larson are President and Cashier,
this is learned, added:
creditors
Corporation.
Comptroller of the Currency on
to the Uppen Avenue National
The
of 5%, payable to all creditors
National Bank, Boston,
July 30.
on
Finance
liquidating trustees,-Otto J.
charter
Boston-Continental
been authorized
has
of
Bank
par
third dividend
closed
liquidating dividend, amounting
creditors of the FletcherIndianapolis, Ind., was to begin on
Feucht, John P. Collett and William
N.
Fleming Jr., announced that subsequent dividends will he paid as
sufficient funds are collected from the assets remaining in their possession.,
The
was
$500,000, and consisted of
value of $100 each.
Under the
change it is to be $580,000, consisting of 20,000 shares of the
par value of $20 a share.
The merging of the Caleb Heathcote Trust Co. of Scarsdale, N. Y., with this institution was
noted in our Aug. 1. issue, page 691.
the
its
third 5%
a
Reconstruction
the
capital stock and number of shares of the County
Trust Co. of White Plains, N. Y., were approved by the
New York State Banking Department on July 21.
Previ¬
shares
by this institution on
reorganization.
•
made
July 30, it is learned from the Indianapolis "News" of that
date, which also stated, in part:
At the time of the restrictions placed! on withdrawals from banks gen¬
erally in February, 1933, 5% was paid to Fletcher-American depositors,
and in August, 1933, 50% of the remaining balance was paid.
Under
the reorganization plan of the bank the liquidating trustees were precluded
from making further payments for two years, dating from Aug. 23, 1933.
During this two-year period the trustees repaid a loan of $1,200,000 to
amount of
ously
distribution
second
$280,000, to depositors and other
to
N. Y., a mem¬
31 purchased
the assets and assumed the liabilities of the First National
Bank of Trumansburg, Trumansburg, N. Y. The latter will
be operated as a branch of the Tompkins County Trust Co.
5,000
the
Payment of
Club of New York.
The Tompkins County Trust Co. of Ithaca,
ber of the Federal Reserve System, on July
Plans to reduce the par value
had been given permission
certificates since the effective date of its
dent, the office he held at his death. Mr. White was a mem¬
ber of the New York State Historical Society and of nu¬
merous
Savings Bank,
by the Federal De¬
posit Insurance Corporation to make a 10% distribution on
its certificates of beneficial interest, issued under its plan
of reorganization in 1933, and that similar approval had
been given by the State Banking Department.
The Balti¬
more "Sun," in noting this, added:
where he remained for eight years.
X
Maryland, Warren F. Sterling,
the Taney town
announced that
Taney town,
National Bank of that place
In 1900 he was elected a
in 1889 in the Second
career
July 23
on
County's
prominent citizens, died at his home in Cooperstown on
Aug. 4 after a brief illness. Mr. White, who was sixty-four
years of age, was born in Cooperstown and began his bankof
Bank
857
Chronicle
Financial
143
opportunities.
...
.
♦
issued
Bank and Bay
been authorized
by the directors of the National Bank of Bay City was
reported in the "Michigan Investor" of Aug. 1.
We quote
That a
third payment
of 10%? on trust certificates
depositors of the former First National
County Savings Bank, Bay City, Mich., had
to
the
paper:
John
to
Hoffman,
said the payment'amounts
depositors in and around Bay City
similar payment was made in January, 1935,
Vice-President .and
$308,000, and approximately 15,000
,
will be
affected.
The
first
Cashier,
858
while
Financial
the
second
November
made in
was
the
of
same
The
year.
close to
payment will bring the total so far disbursed to
Chronicle
latest
The First Wisconsin National Bank of
Milwaukee, Wis.,
Aug. 2 announced retirement of $500,000 of its preferred
stock, reducing the amount outstanding to $9,500,000, ac¬
on
cording to
Chicago
Milwaukee dispatch on that date printed in the
a
"Journal
Commerce."
of
The
advices
went
on
to say:
This
retirement
creation
of
is
being offset in
"reserve
a
the capital structure of
dividends
for
payable
in
the bank by
stock"
common
of
and
As
this
bank
standing
At
is
account
increased
by
further
contemplates stock dividend
capitalization
common
present
reaches
stock outstanding
common
reductions
payments
its
in
the
on
former
preferred
total
of
out¬
$10,000,000.
is carried at $5,000,000.
Checks totaling $1,902,969,38, representing payment of a
25% dividend to depositors of the defunct North Carolina
Bank & Trust Co. of Greensboro, N. C., were mailed to de¬
positors of the institution on July 31, according to an an¬
nouncement
board
of
unsecured
May
20,
by Herbert S. Falk, a member of the bank's
liquidation.
This dividend is the third paid to
depositors since the bank entered liquidation on
1933, according to the Raleigh "News and Ob¬
server" of
July 31, which also said, in part:
With tiie inclusion
amounting to
The
three
45%
dividends
$3,237,861.70.
withdrawal at
In
of
the checks
have
been
which
have
addition,
the time the
which have just
paid
to
been
5%
was
bank
unsecured
paid
to
been mailed, dividends
depositors
available to
entered
of
the
bank.
creditors
unsecured
total
depositors
by
way
of
liquidation.
The
remaining deposit liability totals $3,975,648.86.
Payments which have been made by the bank in the period of liquidation
addition to the total of $3,237,861.76 distributed
among the unsecured
depositors include $5,940,238.34 to the Reconstruction Finance Corpora¬
in
tion;
$2,732,920.21
and
to
$247,661.12 to
$12,215,716.53:
secured
depositors;
preferred creditors.
This
docs
total
not
$57,035
The
to
money
embrace
special
thus
depositors,
disbursed
amounts
paid
totals
to
cover
expenses.
The
Atlantic National Bank of Jacksonville,
Fla., the
largest banking institution in the State, observed the 33rd
anniversary of its founding on Aug. 1, it is learned from the
"Florida Times Union" of that date.
Since
its
establish¬
ment in 1903 the bank's
original capital of $350,000 has grown
to present capital,
surplus and undivided profits of approxi¬
mately $3,900,000, and its deposits have increased from less
than $1,000,000 to more than
$41,000,000.
As of June 30
the
institution's total resources
stood
at
$45,298,025.
Through affiliated institutions, the Atlantic National has
extended its service to several other Florida
cities, banks of
the Atlantic group
being now operated at Springfield, an
important part of Jacksonville, and Daytona Beach, Gaines¬
ville, Palatka, Sanford and West Palm Beach.
Edward
W. Lane, who has been associated with the institution since
its
inception, is President, the other officers being: D. D.
Upchurch, W. I. Coleman, J. E. Stephenson, Charles D.
Wynne, C. O. Little, J. A. Cranford and G. W. Frazier,
Vice-Presidents;
J. T. Lane, Cashier; C. W. Wandell,
George A. Ortagus and S. B. Hilyard, Assistant Cashiers,
Saxton, Comptroller.
and Edward B.
*
The
tion,
Bank of America National Trust &
head
office
Savings Associa¬
San
Francisco, Calif., on July 28 was
authorized by the Comptroller of the
Currency to operate
a branch in the Town
of Woodlake, Calif.
The
Security-First National Bank of Los Angeles, Calif.,
27 merged its Pershing Square branch with its
Seventh and Grand
branch, it is learned from the Los
Angeles "Times" of July 25. The resulting unit has a staff
on
of
July
65
persons,
17,000 accounts, and deposits in
excess
of
$20,000,000.
S. F. Zombro, a Vice-President of the
SecurityNational Bank since 1913 and who has headed the
staff of the Seventh and Grand
branch since its establish¬
First
in
ment
1920, continues as" head of the enlarged branch,
Dobbs, also a Vice-President and former Man¬
ager of the Pershing Square
branch, is Assistant Manager.
.The Los Angeles "Times" of
July 25, authority for the fore¬
going, continued, in part:
~
while Paul
.
Moving to Seventh
and
H.
who
B.
will
be
associated
Managers at Seventh
To
this
group
from
the
move
to
and
Grand
with Mr.
Dobbs will b,e
McQuown, Assistant Managers "at"
and
D.
Grand
,has been added
bank's
the
with
head
merged
M.
in
a
office.
the
Tussing
and
C.
the management
Assistant
new
The
entire
staff
J.
S.
B.
Roberts
Pershing Square location,
of
S.
Albro,.
the
at
Assistant
enlarged
Manager, H.
A.
Pershing
unit.
volume
the
of
backward and forward without definite trend,
though the changes for the most part were within a compara¬
tively narrow channel.
Public utilities again attracted most
of the buying and a number of the more active issues reg¬
istered fractional gains.
There was also some trading in a
small way in the specialties.
Ainsworth Mfg. Co. moved up
3 points to 56, Atlantic Coast Line, 3% points to 31%;
H. C. Bohack 1st pref. advanced 5 points to 50; Jersey
Central Power & Light pref. (6) gained 2% points at 97%,
and Draper Corp. closed with a gain of 1 point at 73.
The volume of trading showed a moderate increase on
Wednesday, and while there was considerable irregularity
apparent due to selling, the market quieted down as the day
progressed and a number of substantial gains were registered
as the session ended.
Niagara Hudson continued to attract
buying and broke into new high ground at 17%.
The rest
of the group were fairly steady, but the advances were not
especially noteworthy7.
Pepperell Mfg. Co. featured the
specialties and broke into new high ground at 78, the improve¬
ment being due in part to the increase in the semi-annual
dividend from $1.50 to $3 per share.
Jones & Loughlin
Steel gained 2% points to 43 % and Aluminum Co. of America
advanced 1% points to 133%.
Pepperell Manufacturing Co. was the outstanding feature
of the trading on
Thursday as it raised its Wednesday's peak
nearly 5 points to 79% at its top for the day and closing a,t
78 with a net gain of 3 points.
The rest of the list was more
or less
irregular and the trend of the market was moderately
downward.
so
were
Industrial stocks and oil shares
Transactions
moderate
a
on
,
DAILY TRANSACTIONS AT THE NEW YORK
Square
Stocks
will
EXCHANGE
the New
as
the week
progressed, there was
no great amount of
group activity, most of the
trading being
scattered through the list in small
lots.
Irregularity has been
apparent from time to time, but the
buying has been fairly
steady.
I
Irregularity continued
brief period of
trading
as
on
the
dominating factor during the
Saturday.
There were a few out¬
standing strong stocks scattered through the various
groups
but the list; as a whole, pointed
downward.
Some interest
in the utilities was in evidence and
there were
brief
occasional but
flurries
among
the
specialties,
but
the
CURB EXCHANGE
Anderson,
York Curb
Exchange have been
week, and while the volume of business showed
improvement
down and
specialties, though there were occasional
exceptions to the trend, particularly Cities Service pref.
which advanced 2% points to 61% at its high for the day.
American District Telegraph Co. of N. J. advanced 2 points
to 122, H. C. Bohack 1st
pref. moved up 2% points to 52%,
Celanese Corp. pr. pref. forged ahead
2% points to 115%;
Duke Power, 1% points to
74%; Horn & Hardart pref., 1%
points to 110%; North American Light & Power pref., 1%
points to 63%, and Pittsburgh Plate Glass, 2% points to 131.
The transfers were down on the
day, the volume dwindling
to 262,835 against 315,065
during the preceding session.
Stocks on the curb market moved moderately higher on
Friday, and while the gains were usually small, there were a
number of issues
among the specialties that registered sub¬
stantial advances. Prominent among these were such active
stocks as Associates
Investment, 2 points to 48; Cities
Services BB pref., 2 points to 60; Dow Chemical,
2% points
to 112; Gulf Oil of
Pennsylvania, 2% points to 88; Parker
Pen, 3 points to 26; Pepperell Manufacturing Co., 5 points
to 83;
Pittsburgh Plate Glass, 3 points to 134; Sherwin
Williams, 3% points to 135%, and Thermoid cv. pref., 3%
points to 60%.
As compared with Friday of last week
prices were slightly higher, American Gas & Electric closing
last night at 45%
against 44% on Friday a week ago,
Consolidated Gas of Baltimore at 93% against 92, Gulf Oil
of Pennsylvania at 88
against 87; New7 Jersey Zinc at 81%
against 78; Niagara Hudson Power at 17% against 16%, and
Sherwin Williams Co. at 135%
against 135.
volume
of
Bonds (Par
Value)
(Number
0/
Aug. 7 1936
very quiet this
were
most of the
Week Ended
CURB
was
fluctuated
quarters.
THE
business
252,000 shares for the day.
stock
until
common
1936
dowm to approximately
Public utilities attracted the
most of the speculative attention and there was a moderate
amount of buying in the
specialties and mining stocks.
Wayne Pump was quite active due to the improvement in its
earnings statement and reached its best top in weeks at 35%
and Gulf States Utilities pref. climbed upward 8% points to
95.
Other gains were H. C. Bohack 1st pref., 5 points to 45;
New Jersey Zinc, 1% points to 80; West Texas Utilities pref.,
9% points to 80%; Brown Co. pref., 2% points to 14%;
Gulf Oil of Pennsylvania, 1 point to 88, and Pan-American
Airways, 1% points to 57%.
High prices among a few selected issues were recorded on
Tuesday, but the main body of stocks was irregular and prices
an
equal amount.
the
8,
business showed considerable contraction even among the
generally accepted market leaders.
The best advances of
the day were in the
preferred stocks and included St. Regis
Paper pref., 4% points to 98; Columbia Gas & Electric pref.,
Jl% points to 112%; Wayne Pump, 1% points to 34%;
Central States Electric pref., 1% points to 52%, and National
Gypsum, 1% points to 51%.
Little change from the previous close was apparent as the
market resumed dealings on Monday.
Trading was quiet
million dollars.
a
Aug.
Shares)
Saturday
Monday
Tuesday
Wednesday
Thursday
Total
Domestic
142,855
251,930
278,030
313,375
263,035
344,185
Friday
_
Sales at
Foreign
Foreign
Government
2,082,000
1,882,000
2,032,000
2,009,000
2,406,000
1,593.410 811,261,000
$26,000
77,000
44,000
40,000
49,000
50,000
48,000
43,000
32,000
18,000
0
$892,000
2,177,000
1,974,000
2,115,000
2,090,000
2,474,000
$286,000 $11,722,000
$175,000
Week Ended Aug. 7
Total
Corporate
$16,000
18,000
$850,000
Jan. 1 to Aug. 7
New York Curb
(
Exchange
Stocks—No. of shares.
1936
1935
1936
1935
1,593,410
1,471,780
85,004,822
30,517,863
$11,261,000
175,000
286,000
$20,294,000
186,000
271,000
$533,201,000
$714,931,000
11,699,000
8,252,000
9,991,000
7.543,000
$11,722,000
$20,751,000
$553,152,000
$732,465,000
Bonds
Domestic
Foreign government..
Foreign corporate..
Total
Volume
859
Financial Chronicle
143
COMPLETE PUBLIC DEBT OF THE
We execute orders for
The statement of the
the purchase or
UNITED STATES
cash hold-
public debt and Treasury
of the United States, as officially issued as of Apr. 30,
1936, delayed in publication, has now been received, and as
interest attaches to the details of available cash and the gross
ngs
securities for
the account of
foreign and domestic
correspondents.
of
sale
•A
MANUFACTURERS TRUST
on that date, we append a summary
making comparison with the same date in 1935:
and net debt
COMPANY
CASH AVAILABLE TO PAY
FOREIGN DEPARTMENT
HEAD OFFICE AND
MATURING OBLIGATIONS
April 30, 1936 April 30. 1935
•
STREET/ NEW YORK
55 BROAD
'
«
r
,
t
'
1
.
g
<
^
-
1,934,717,534
&c
2,441,970,519
deficiency of receipts over
Balance end of month by daily statements,
Member Federal Reserve System
Member New York Clearing
Member Federal Deposit
thereof,
Add
or
Deduct—Excess or
—20,418,722
1.917,173,809
31,940,601
699,609 819
3,711,985
1,378,233
36,702,432
314,923.266
3,836 395
4,095,130
736,640,638
under disbursements on belated items
—17,543.725
2,421,551,797
or
House Association
Insurance Corporation
359,557,223
Deduct outstanding obligations:
Matured interest obligations
Disbursing officers' checks
RATES
FOREIGN EXCHANGE
Discount accrued on War Savings
requirements of Section 522 of
Pursuant to the
the Tariff
Settlement on warrant checks.....
Bank is now certifying
daily to the Secretary of the Treasury the buying rate for
cable transfers in the different countries of the world.
We
the Federal Reserve
Act of 1930,
give below
1
OUTSTANDING
Interest Apr il
2s of 1918-1938
3s of 1961
3s convertible bonds of 1946-1947
Rate for Cable Transfers
Noon Buying
in New York
3^s First Liberty Loan, 1932-1947
1.
converted 1932-1947
Value in United States Money
$
Europe-
.188416*
.188450*
.188266
.188400*
.168563
.168507
.168466
.168442
,
.168519
.013100*
.013100*
.012975*
.012950*
,
.041328
!
.168592
Belgium, belga
.013000*,
Bulgaria, lev
Czecjoslo'kla,
S
$
S
$
,
.041307
.041303
.041303
.041314
.224129
.012975*
koruna
.041317
;!
.223875
,223862
.223891
.223891
.224150
5 .015125
.015708
.016651
.021375
5.020916
England, pound sterl'g
.016000
.022066
,022112
.022075
.022080
.022115
.022115
Finland, markka
France, franc
.065874
.065920
.065877
.065892
.065885
.065850
.402103
.402042
.401989
Denmark, krdne
i
,
Germany, reichsmark.
.402521
402323
.402217
.009387
009406
.009400
.009393
.009390
.009393
Greece, drachma.,
.679389
,679178
.679039
.294700*
,197466*
Holland, guilder
Hungary, pengo
Italy, lira
i
.078908
|
.678982
.679007
1678907
.197875*
.197850*
.197875*
.197875*
.078725
.078653
.078635
.078685
.252250
.252229
251987
.252008
.251995
.188750*
188600*
.188625*
.188425
.188540
.188425
.045572
045562
.045652
.045630
.045620
.045600
.007308
j
Norway, krone
Poland, zloty
.007316
.252004
—j
Portugal, escudo
'
078833
007350
.007325
.007316
.007325
.136233*
136333*
.136166*
.136233*
.135625*
.136500*
Spain, peseta
.258591
258558
.258604
.258591
.258840
.258795
Sweden, krona
326317
.326089
.326096
.326060
.325960
Switzerland, franc
.326242
.022900
022958
.022966
.022900
.022950
.022933
Yugoslavia, dinar....
,299833
.299625
.299833
.299833
.300633
.299833
.300000
.299791
.300000
.300000
.300633*
.300000
.300000
.299791
.300000
.300000
.300633
.300000
,300000
.299791
.300000
.300000
.300633
.300000
.311875
.311708
.311333
.310143
.310250
Rumania, leu
Chefoo
,311500
dollar..'
Hongkong,
315,222,350
J.-D. 1,035,884,900
L..M.-S. 1,214,453 900
M.-S. 1,223,496,850
196,692,190
67,873.844
120,881,020
.12,383,152,450
1,952,862,000
J.-J.
2^8 Postal Savings bonds
interest-bearing debt
India, rupee........*
,378187
.378685
.378595
.378525
.378840
,293150
.293185
.293385
.293405
.293595
.293605
Japan, yen
.588062
.588312
.588312
.588312
.588525
.588625
Singapore (S. S.) dol'r,
Total debt.
-
—
.....—......
a31425377,057 28,669,472,598
+ 1684 911,159 +1557,616,586
-
-
add Treasury deficit
L-b29740465,898
Net debt
101,943,340
10,235,611,350
1.978,260,000
30,600,547 954 27,765,777,320
650,259,748
836,640,728
174.509,355
67,054,550
.—
Bearing no interest
Matured, interest ceased.........
Deduct Treasury surplus or
1,400,570 500
1,518,858.800
824,507,900
491,377,100
1,931,179,150
491,377,100
J.-D.
M.-S. 2,611,155,700
Treasury bills
.378750
834.474.100
834,474,100
F.-A.
A.-O. 1,400,570,500
1,518.858,800
..A.-O.
3)4s Treasury bonds of 1941
43^8-3^8 Treasury bonds of 1943-1945
3^s Treasury bonds of 1944-46
3s Treasury bonds of 1946-1948
Z\is Treasury bonds of 1949-1952
2%s Treasury bonds of 1955-1960
2^s Treasury bonds of 1945-1947
2^8 Treasury bonds of 1948-1951
U. S. Savings bonds, series A
U. S. Savings bonds, series B
Aggregate of
dol'r
Hankow (yuan) dol'r
Shanghai (yuan) dol
Tientsin (yuan) dol'r
(yuan)
4,090.200
J.-D .
Treasury notes
Asia—
China—
28,894,500
158,200,000
589,044,050
4J^s First Liberty Loan, converted 1932-1947..J.-D.
1,334 250
4^s First Liberty Loan, 2d conv., 1932-1947.-J.-D.
cl,416,813,000
4J4s Fourth Liberty Loan of 1933-1938
A.-O.
758,955,800
758,955,800
4Y\s Treasury bonds of 1947-1952
A.-O.
1,036,762,000
3s Treasury bonds of 1944-1954
...
J.-D. 1 036,762,000
489,087,100
489,087,100
3^s Treasury bonds of 1946-1956
M.-S.
454,135,200
454,135.200
3^s Treasury bonds of 1943-1947
...J.-D.
352,993 950
352,993,950
3^s Treasury bonds of 1940-1943
J.-D.
544,914,050
544,914,050
3%s Treasury bonds of 1941-1943..
M.-S.
818,646,000
818,646.000
3^)S Treasury bonds of 1946-1949
J.-D.
755,477,000
755,476,000
3s Treasury bonds of 1951-1955
M.-S.
Aug. 7
,188516*
.188533*
Austria, schilling
Aug. 0
Aug. 5
Aug. 4
Aug. 3
j
25,947,400
49.800 000
J.-D.
4s First Liberty Loan,
Unit
Aug. 1
$
599.724,050
48,954 180
49,800,000
28,894,500
259,150,000
Certificates of indebtedness
Country and Monetary
1936 April 30, 1935
..........
Q.-F.
..Q.-F.
Q.-M.
Q.-J.
2s of 1916-1936...
ZO
$
Payable
...Q.-J.
2s Consols of 1930...
INCLUSIVE
1936 TO AUG. 7, 1930,
AUG. 1,
+ 1684911,159 + 1,557,616,586
INTEREST-BEARING DEBT
Title of Loan—
BY FEDERAL RESERVE
TREASURY UNDER TARIFF ACT OF 1930
BANKS TO
......
Balance, deficit (—) or surplus (+)_.-
CERTIFIED
RATES
EXCHANGE
FOREIGN
..........
___L
Total;...
record for the week- just passed:
a
Certificates
27,111,856,012
daily Treasury statements was
a Total gross debt April 30, 1936, on the basis of
$31,425,440,o95.88, and the net amount of public
pound. 4 .029375* 4.027250* 4.028750*
4.028250*,4.032250* 4.031500*
debt redemption and receipts
in transit, &c., was $63,339.25.
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.
South Afrioa, pound.. 4 .965250* 4.961041*4.958750*
4.961145*4.967708*4.967083*
CONTINGENT LIABILITIES
Australasia—
3 ,994687*3.994500*4.000000*3.995250 *
Australia, pound
New Zealand,
4.000250*3.996000*
Africa—
North America—
.999788
,999648
.999596
.999778
.999772
.999960
,999000
.999000
.999000
.999000
.999000
.999000
,277625
.277625
.277757
.277375
.277675
.277500
,997125
.997156
.997312
.997312
.997437
.997377
.334440*
,334390*
.334280*
.334500*
.334720*
.334720*
Brazil,(official) milreLs .084300*;
(Free) milreis
1
.084600*
.084825*
.084833*
.085440*
.084833*
.058300
Canada, dollar
Cuba, peso..—......
Mexico, peso
i
;
Newfoundland,
dollar
South America—
J
Argentina, peso
.058166
Chile, peso...4.
.058440
.058375
.058000
.051750*
.051750*
.051733*
.051.733
.051633*
.051733*
.569000*
.569000*
.797350*
Detail—
Guaranteed by the
.569000*
796875*
.797916*
.797916*
PARIS BOURSE
Quotations of representative
stocks as received by cable
\
■
Aug. 1
Aug. 3
Aug. 4
Aug. 5
Aug, 6
Aug. 7
Francs
Francs
Francs
Francs
Francs
Francs
5,700
5,700
5,500
5,300
638
232
627
232
191
608
i 220
603
212
>
Bank of France
Banque de Paris et Des Pays Bas
Banque de i'Union Parlslenne—
/
Canadian Pacific;
/
.Z
Z~.
Cle Distr. d'Electrlcltie
d'Electricltle-
Cle Generale
Cle Generale Transatlantlque—
'
Citroen B
-7+;
Comptoir Nationale d'Escompte
Coty S A
Z
Z
Courrieres
—_
.
Energie Electrlque du Nord
Energle Eiectrique du Littoral--
Holiday
Kuhlmann
L'Air I.iqulde
Lyon(PLM)
Orleans Ry 6%
Pathe Capital
Pechiney
Rentes
Rentes
Rentes
Rentes
Rentes
Perpetual 3%
4%, 1917.
4%, 1918
4M%, 1932 A
4^%, 1932 B
5%, 1920
—
—
—.
—
Royal Dutch
Saint Gooain C & C
Schneider A
Cie
Soclete Francalse Ford
Societe Generale Fonciere
Societe Lyonnaise
Societe Marseillaise
Tubize Artificial Silk,
pref
Union d'Eelectrlcitie
Wagon-LJts
++*200
660
670
—HO
148
.131
361
1,060
960
232
475
430
417
720
655
720
674
635
370
13
950
66.30
64.90
64.40
69.30
70.40
88.90
2,920
615
361
14
NordRy
Rentes,
- ^
19,800
650
.860
15
980
228
475
—
Eaux Lyonnaise cap.
193
19,900
683
890
15
370
1,080
Credit Commercial de France.—
Credit Lyonnaise-—
———
•Ex-dividend.
Total
Interest
$
$
$
873,939,276.99
98,426,841.19
238,556,362.09
22,383,138.02
92,549,343.27
100,368,133.23
1,426,223,094.79
>
978
66.30
65.60
65.00
69.6Q,
70.60
89.90
2,900
1,065
896
35
82
980
503
60
312
37
;
1,070
875
35
82
946
,
190
19,900
637
810
15
242
660
80
125
80
125
1,040
910
361
1,010
910
227
475
410
700
fb248.00
244,424.57
8,763,229.02
155,425.00
181,720.51
206,383.75
2,032,849.88
1,139,274.66
-
A, 1944-52.-.1,114,480,125.00
2M% bonds, series B, 1939-49.1,272,235,300.00
1A% bonds, series C, 1936
49,736,000.00
1H% bonds, series D, 1937
49,843,000.00
2% bonds, series E, 1938
49,532,100.00
iu% bonds, series F, 1939
325,254,750.00
2X% bonds, series G, 1942-44.
151,661,225.00
81
690
644
626
370
14
906
65.60
621
370
12
902
65.60
64.10
63.90
68.70
69.70
87.60
2,890
63.80
63.60
68.50
69.60
87.25
2,900
1,000
815
32
1,005
820
32
75
36
910
503
"60
298
"
37
1,020
900
25
147,692.31
574,238.08
16,147,692.31
86,947,238.08
150,049,453.49
Corp.:
G
H
A% notes, series K...
2% notes, series
1
—
16,000,000.00
86,373,000.00
149,211,666.67.
Tennessee Valley
837,786.82'
1,559,717.21
251,584,666.67
c253,141,383.88
Authority--——
—
Total, based upon
guarantees--
of the United States:
Secretary of Agriculture...
Postal Savings System:
Funds due depositors..
•
On Credit
Total, based upon
United States
4,704,833,038.06
.'.".v;1
^ ■
—-
*
1,213,853,875.00
28,435,762.94dl242,289,637.94
credit of the
1,242,289,637.94
Other Obligations—
Federal Reserve notes
♦
65.40
63.75
63.40
68.40
69.40
86.75
2,900
49,891,425.00
50,024,720.51
49,738,483.75
327,287,599.88
152,800,499.66
3,025,465,559.39
3% notes, series
690
374
f248.00
1,114,724,549.57
1,280,998,529.02
*3,012,742,500.00 12,723,059.39
407
630
38
503
60
1933-51-:
Reconstruction Finance
220
470
* 303
t
—
Owners'Loan Corporation:
5,300
191
>186
19,900 19,900
630
....
820
810
15
15
v- 240——
625
79
908
504
60
298
.
Administration.-
3% bonds, series
the past week:
Canal de Suez cap
a
*1,411,182,400.00 15,040,694.79
Federal Housing
available.
4% bonds of
each (lay of
30, 1936
of Contingent Liability
862,085,600.00 11,853,676.99
98,028,600.00
398.241.19
236,487,100.00 2,069,262.09
58,138.02
22,325,000.00
415,243.27
92,134,100.00
246,133.23
100,122,000,00
1944-49
3ii% bonds of 1944-64
3% bonds of 1942-47-1H% bonds of 1937
2M% bonds of 1942-47
llA% bonds of 1939
3% bonds of
Home
THE
Untied Stales:
Corp.:
Federal Farm Mortgage
.796875*
.569000*
Uruguay, peso.
Nominal rates; firm rates npt
UNITED STATES, APRIL
Principal
.569000*
.796875*
Colombia, peso
.569000*
•
THE
OF
Amount
!
(face amt.).
bonds Issued and
deposited with the Treasury to
Includes only
funds
•
---.-
e3749,231,466.01
of
1,
outstanding, a After deducting amounts
meet interest payments, b Interest to July
receipts outstanding which
$4,150,000,000 face
1935, on $4,495,600 face amount of bonds and interim
called for redemption July 1, 1935.
c Does not include
were
held by Treasury and reflected in the
public debt,
d Figures as of Feb. 29, 1936—figures as of April 30, 1936, not
available.
Offset by cash in designated depository banks and accrued interest
amounting to $225,523,688.47 which is secured by the pledge of collateral as provided
in the Regulations of the Postal Savings System having a face value of $237,407.797 60; cash in possession of System amounting to $138,016,194.74, and Govern¬
ment securities with a face value of $869,770,890 held as investments, and other
assets,
e In
actual circulation, exclusive of $12,875,528.99 redemption fund
deposited in the Treasury and $253,236,715 of their own Federal Reserve notes
held by the issuing banks.
The collateral security for Federal Reserve notes issued
are
(1) $4 029,903,000 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 of $57,000,000, and (3) commercial paper of a face amount of
$4,087,000.
f Excess of credits (deduct).
amount of notes
and accrued interest thereon,
860
Financial
GOVERNMENT RECEIPTS AND EXPENDITURES
Chronicle
Trust
Accounts,
of Government receipts
and
-Month
Increment-
Gold, &c.
on
Through the courtesy of the Secretary of the Treasury
we are enabled to
place before our readers today the details
Aug. 8, 1936
Expenditures—
Melting losses, Ac..—
111,190
of July
S
tax.
-•—July 1 to June 30-
1935
1936
Receipts—
=
1935-36
$
.
1934-35
$
.
$
39,120,833
farm prod'ts
23,192,605
1,426,575,434
200,807,757
Internal revenue
Processing tax
164,634,111
2,009,626,791
2,063
19,091,966
31,580,452
on
Customs...
29,711,393
76,649,383
'
386,811,594
Miscellaneous receipts:
Proceeds o! Govt.-owned
1,099,118,638
1,657,191,519
521,379,871
343,353,034
sees.
701,150
69,898
66,710
477,414
other.—.——————
601,114
23,074,864
10,586,967.
90,360,933
38,105,612
24,704,262
Panama Canal tolls, Ac......
2,199,234
2,298,883
25,899,995
Seigniorage—.......
4,816,633
11,023,356
39,266,510
Other miscellaneous..
vestments..
Other
4,772,831
5,881,866
60,218,663
58,035,251
57,911,191
293,886,770
278,908,944
4,115,956,615
397,422,480
91,415,650
6,202,000
18,909.000
50,000
Total.
40,547,056
Excess Of expenditures
119,781,778
...
11,707,741
.....
bl50,546,457
708,658,429
.v.
...
96,807,385
522,056,153
....
274,307,192
Additional expenditures on these accounts for the months and the fiscal years
are included under Recovery and Relief
Expenditures, the classification of which
will be shown in the statement of classified receipts and expenditures
appearing on
39,217,702
39,789,597
442,994,433
Public buildings a
355,992,512
1,517,983
963,007
15,045,265
Public highways.a
25,269,073
5,954,210
page 5 of the
daily Treasury statement for the 15th of each month,
3,800,467,202
Total receipts
b Excess
a
River and harbor work
Panama Canal
a
28,799,817
8,550,995
5,242,903
71,398,632
55,118,567
902,512
1,565,466
11,447,779
2,527,757
a
Postal deficiency
Railroad Retirement Act
b425
86,038,862
8,766,205
63,970,405
40,662,400
40,662,400
84,711
Social Security Act
46,735,300
farm products or advances from the Treasury
on
CURRENT
ASSETS
AND
LIABILITIES
GOLD
21,009,100
Assets-
S
Liabilities—
10,647,329,612.66
Gold certificates:
4,161,013
5,707,500
4,539,295
18,734,710
373,014,978
Outstanding (outside
38,614,935
29,404,052
391.424.149
212,186,713
321,410,530
555,573,274
50,000,000
561,540,268
ofGovs.,F.R. Sys.
Redemption
fund—
a
48,834,861
47,070,043
575,982,094
Adjusted service ctf. fund..
Agrlcul. Adjust. Admln.a c..
Agrlcul. Adjust. Admin. (Act
30,116,050
100,000,000
1,773,492,532
55,879
24,161,611
344,737,068
Gold
of
Treasury)
Gold
ctf.
2.915,336,129.00
fund—Bd.
5,382,078,912.60
Fed. Res. notes
12,662,328.00
Gold reserve
24,1936)-.
24,161,602
29,971,277
Allotment Act...........
Emergency Conserv. Work.a..
630,583
;
156,039,430.93
1,800,000,000.00
381,212,812.13
Exch. stablllza'n fund.
135,453,093
10,899,655
Agricultural Contract Adjusts.
Soli Conservation & Domestic
Farm Credit Administration
holdings of the Government as the items stood
are set out in the following.
The figures
are taken entirely from the daily statement of the United
States Treasury of July 31,1936:
July 31, 1936,
3,510,063
Veterans' pensions & benefits:
Administration
The cash
33,111,436
Army..—................
Navy-...
Aug
—>
(deduct).
be deducted from processing taxes.
28,445,293
National defense:a
Veterans'
credits
Payable from processing taxes
c
to
270,435
11,891,563
Retirement funds (U. 8. share)
Dlst. of Col. (U. S. share)....
■
of
TREASURY CASH AND CURRENT LIABILITIES
General—Departmental
Gold in general fund..
Total
322,037
Total
10,647,329.612.66
10,647,329,612.66
Note—Reserve
116,374
a
b64,394
11,551,343
12 979 061
Tennessee Valley Authority a
/
20,931,857
19,406,160
...........
Excess of receipts or credits
Expenditures—
.
5,614,454
13,595,975
Unemployment trust fund—In¬
a
Principal—for'n obligations
Interest—for'n obligations.
All
—
675,122
791,346
(Sec. 13b, Fed. Res. Act as
amended)..—
—Month
Internal Revenue:
Mlsoell.
156,002
...
Payment to Fed. Res. banks
and disbursements for July, 1936
Funds-
1934-35
1935-36
$
For retlrem't of Nat. bk. notes
Income
1935
Chargeable agst. lncrem.on gold:
1935:
General & Special
—July 1 to June 30
of July-
1936
■■
■
59,662
Debt charges—Retirements..
5,039,400
54,872,550
403.240.150
573,558,250
9,682,836
7,732,944
749,396,802
820,926,354
2,107,197
957,774
14,085,195
20,715,689
against 1346,681,016 of United States notes and $1,176,422
of Treasury notes of 1890 outstanding.
Treasury notes of 1890 are also secured by
silver dollars In the Treasury.
Interest
Refunds—Customs
;
Internal revenue
21,016,755
2,982,610
3,299,002
30,100,430
24,531,991
farm prod
1,750
1,597,097
10,081,744
31,208,208
Total, general..........
335,206,458
380,149,350
5,588,870,388
7,779,698
27,850,207
115,863,270
129,715,023
b60,144,065
2,627,810
b33,223,232
141,390,815
1,656,948
.5,739,898
60,486,791
48,047,001
$
150,278,835
b2,853,717
silver
■
Processing tax
on
717,132,054.31
508,102,029.00
Silver1'dollars
:
Liabilities—
5
Silver ctfs. outstanding. 1,158,483,194.00
Treasury notes of 1890
3,719,295,495
b3,929,829
b67,213,994
s
Assets—
8ilver_
outstandingSilver in general fund
1,176,422.00
—
Recovery and relief:
Agricultural aid:
Total.-..........—1,225,234,083.31
Agrlcul. Adjust. Admin
Commodity Credit Corp
Farm
Credit Admin, (lncl.
Fed. Farm. Mtge. Corp.)
Federal Land banks..
.
Relief:
Fed.
Admin
Erner.
(lncl.
..
Fed.
Sur¬
Fed.
4,600,570
61,081,089
495,591,987
1,814,477,331
31,753
64,765
Emerg. Conserve'n work..
676,196
11,327,264
30.312,238
51,848,364
486,281,194
435,508,643
Dept. of Agrlcul., relief....
Reserve bank notes
Minor coin..
651,005
2,882,449
80,561,250
10,023,711
23,820,507
14,418,683
172,116,012
4,390,133
bl27,881,597
66,230,753
30,031,831
13,476,816
23,883,447
215,095,581
317,356,940
Fed.
9,885,460
152,318,737
147,924,752
316,322
30,712
1,402,654
162,051,064
41,888
1,263,661,490
36,922,264
28,508,730
405,333,219
137,707,417
Aid to home-owners:
2,501,079
975,532
14,504,600
1,081,571
137,907,723
1,761,663
24,906,423
and
(
urer
To
6,479,836
413,724
108,264
19,581,458
2,040
1,080,177
5,111,371
12,496,731
bl75,572,577
b4,863,094
b238,722,417
bl35,409,958
3,918,134:
27,814,668
36,148,537
81,902,185
347,385,727
3,290,927,870
-3,656,529,671
417,108,643
727,535,077
8,879,798,258
7,375,825,166
123,221,874
448,626,133
4,763,841,642
3,575,357,964
urer
Total recovery and relief
Total expenditures
Excess of receipts
Excess of expenditures
1
secur
134,416,000.00
bank
of
urer
of
of
261,420,361.66
Balance of Increment
1,058,908.86
2,136,600.11
Summary
Excess of expenditures
Less public-debt
Item
__
Excess of expenditures
(exclud¬
ing public debt retirements)..
Trust accts., Increment on
gold
&c.. excess of expenditures...
123,221,874
5,039,400
448,626,133
■
4,763,841,642
represents
403,240,150
573,558,250
4,360,601,493
393,753,583
11,707,741
96,807,385
129,890,215
+ 271,307,192
522,056,153
2,479,743,5k
490,560,968
4,634,908,685
13,595,975
19,406,160
397,422,480
91,415,650
116,294,240
471,154,808
4,237,486,205
2,388,327,911
Decrease in general fund balance
451,042,496
52,277,905
+ 840,164,664
1—740,576,701
excess of
Increase (+) or decrease
(—) In
the public debt
Public debt ui begin, of
proclama¬
1934.
.
year
—334,748,256
33,778,543,494
Public debt this date
Trust
dollar
Beignioraee
.
Unemployment trust fund...."
Total
of governmental agencies
(net)
30,
1936
■
■
:-",B
^
■
corporations and credit agencies, financed wholly or in part
by the United States, was contained in the Department's
"Daily Statement" for July 31.
The report is the 25th
such
to bfe issued by the Treasury; the last
previous one,
May 31, 1936, appeared in our issue of July 11, pages
of agencies
proprietary in¬
as of that date of $3,038,319,152,
which compares with $3,117,062,299 May 31.
In the case
of these wholly-owned Government agencies, the
proprietary
interest represents the excess of assets over liabilities, ex¬
clusive of inter-agency items.
The Government's proprietary interest in agencies financed
partly from Government funds and partly from private
27,053,141,415
The
29,119,769,527
33,778,543,494
28,700,892,625
19,411,999
20,536,303
238,827,936
229,660,234
201,071
2,623,078
65,219
784,465
1,738,020
2,372,871
175,789,415
140,111,442
6,603,167
22,974,393
434,351,237
25,998,153
21,431,019
205,131,956
165,959,663
b5,410,262
78,087,447
80,788,693
b429,528,741
371,509,696
case
a
terest of the United States
funds
18,949,421
for June 30 shows in the
wholly from Government funds
report
financed
33,443,795,238
28,839,315
■:
The monthly report of the Treasury
Department, showing
assets and liabilities as of June 30, 1936, of
governmental
217-218.
28,700,892,625
Expenditures—
Transactions in checking acc'ts1
REPORT ON GOVERNMENTAL CORPO¬
RATIONS AND CREDIT AGENCIES AS OF JUNE
+ 418,876,903 + 5,077,650,869 +1,647,751,210
Accounts, Increment
on
Gold, &c
Increment resulting from reduc¬
tion in the weight of the
gold1
disbursing officers and certain agencies today
28,700,892,624
Receipts—
Trust accounts
*
.
MONTHLY
for
month
or
2,491,888,069.26
seigniorage resulting from the Issuance of silver
$2,451,648,499.36.
3,001,799,714
118,182,474
expenditures..
Less nat. bank note retlre't
Total
...2,230,467,707.60
Total-.
3,575,357,964
54,872,550
of the gold
certificates equal to the cost of the silver acquired under the Silver Purchase Act of
1934 and the amount returned for the silver received under the President's
tion dated Aug. 9,
was
retirements-
weight
Balance today
2,491,888,069.26
Note 2—The amount to the credit of
•
In
dollar
l
140,586,877.28
Seigniorage (see note 1).
318,523,934.75
Working balance....... 1,771,356,895.57
Treas-
of U. S
1—This
re¬
sulting from reduction
1,170,746.92
other
Total
Note
9,084,754.77
10,180,495.80
officers...
To credit
550,611.20
ex¬
39,929,315.27
Philippine Treasury:
....
banknotes(5%fund,
other
of U..S
Govt,
Nat.
changes, Ac
officers
credit
of
lawful money)
Uncollected
Items,
Treas¬
of U. S
98,894,801.76
for
Redemption
To credit of Treas¬
To
60,800,000.00
56,848,677.67
courts,
disbursing
officers, Ac
497,058,165.96 Deposits
Foreign depositaries:
b2,616,497
,
of
credit
Govt,
3,661,938
2,589,650
3,549,857.38
other
credit
lawful
reserve,
money
depositaries:
75,686,784
b443,244
Bks. of Wash.
Admin
Tennessee Valley Authority..
5%
Other deposits
Postmasters, clerks of
sales of Govt,
15,963,873
13,330,248
Resettlement Admlnlstra'n.
8ubslstence homesteads
Miscellaneous:
6,410,085
2,316,456
1,616,189
Emergency housing..
Federal Housing Admin
37,385,358
2,883,388
_
for Indus. Recovery..
Reconstruction Finance Corp.
—-direct loans <fc expend s..
Savings
System:
28,090.51
Reserve banks..
Nat.
4,005,162.36
Postal
327,454,771.13
Collections, &c
To
Home-loan system
Post Office Dept
of
Trustees,
Deposits In:
16,821
31,236,353.90
Board
(recoinage
value).....
327,354*650
out¬
officers:
Special depos. acct. of
Silver bullion (cost value)
checks
standing
Deposits of Government
Unclassified—
.
Works Progress Admin
Treasurer's
1,043,759.50
2,171,037.50
4,471,561.47
1,833,021.41
Subsidiary silver coin...
29,537,915
739,344
All other
2,813,642.00
15,784,820.00
National bank notes
Silver bullion
River and harbor work
Rural Electrlflca'n Admin.
Export-Import
65,574,467.31
1,648,540
States,
Loans to railroads
Public highways
381,212,812.13
78,438
&c
...1,225,234.083.31
Liabilities—
(see above)
1,828,099
Public Work (lncl. work
rel'f);
Boulder Canyon project
Loans and grants to
municipalities.
Assets—
Silver (see above)..
United States notes
Federal Reserve notes..
plus Com. Corporation).
Civil Works Administration
Total—
GENERAL FUND
Gold
Relief
65,574,467.31
as
of June 30
was
shown to be $1,184,602,925.
with $1,178,084,167
This
of May 31.
In the case
of these partly-owned Government agencies, the Govern¬
ment's proprietary interest is the excess of assets over lia¬
bilities exclusive of inter-agencv items, less the privatelycompares
owned interests.
as
The statement follows:
Volume
Financial
143
Chronicle
Non-stock (or Includes non-stock proprietary
a
Interests),
b Excess
lnter-agency assets (deduct),
Deficit (deduct).
»
d Exclusive of lnter-agency assets and liabilities (except bond
e
Also Includes real estate and other property held for sale.
c
t
g
Excludes contingent assets and
loans, &c.
investments),
Adjusted for Interagency Items and Items In transit.
teed
liabilities amounting to $16,762
for guaran¬
U. S. Railroad Administration, U. 8.
Spruce Production Corporation, and notes received on account of sale of surplus war
h Includes
U.
S.
Housing Corporation,
supplies.
Includes
i
Electric
and
Home
Farm
Farm Credit Administration
Authority;
(crop-production and other loans); Federal Housing Administration; Federal Prisons
Industries, Inc.; Inland Waterways Corporation; Resettlement Administration;
Rural Electrification Administration; The RFC Mortgage Company; Tennessee
Authority; loans to rallrostjis. and lnter-agency Interests held by the United States Treasury.
1 N6t after deducting estimated amount of uncollectible obligations held by the
Valley Associated Co-operatives, Inc.; Tennessee Valley
Farm
k
Credit Administration.
Federal Land banks from the U. 8. Treasury for
Includes $4,909,136 due to
subscriptions
to
surplus.
paia-m
1 Preliminary .statement.
m
n
In process.
of capital stock held by the United'
the Home Owners' Loan Corporation.
paid in by member banks and trust companies to the
Includes unissued bonds covering loans
Assets not classified.
Includes the amount
States; also $52,817,100 subscribed by
■
o
Includes
amount of
assessments
$17,516,72?.
liquidation.
q Represents capital stock, paid-in-surplus, and other proprietary lnter-agency
interests which are not deducted from the capital stock and paid-in surplus of the
P In
corresponding organizations,
r Less than
$1,000.
^^
UNITED
THE
OF
1936
STATEMENT
DEBT
PRELIMINARY
JULY 31,
STATES,
preliminary statement of the public debt of the United
July 31, 1936, as made upon the basis of the daily
Treasury statement, is as follows:
The
States
Bonds—
•
.
$49,800,000.00
3% Panama Canal loan of 1961............
3% Conversion bonds of 1946-47
256 % Postal Savings bonds (12th to 49th ser.)
28,894,500.00
119,974,320.00
$198,668,820.00
Treasury bonds:
758,955,800.0o
454% bonds of 1947-52
4% bonds of 1944-54
354 % bonds of 1946-56—
3%% bonds Of 1943-47
3% % bonds of 1940-43
356% bonds of 1941-43
3H % bonds of 1946-49...
3% bonds of 1951-55
3H% bonds of 1941.....
3M% bonds of 1943-45
—y
334% bonds of 1944-46
3% bonds of 1946-48
a
334% bonds of 1949-52
256% bonds of, 1955-60-.—
2»4% bonds of 1945-47...—
254 % bonds of 1948-51
254% bonds of 1951-1954....
1,036,762,000.00
489,087,100.00
454,135,200.00
352,993,950.00
544,914,050.00
818,646,000.00
755,476,000.00
834,474,100.00
1.400,570,500.00
1,518,858,800.00
1,035,884,900.00
491,377,100.00
2,611,155,700.00
1,214,453,900.00
1,223,496,850.00
*
-
—-
-
!
,
:
1,626,688,150.00
17,167,930,100.00
—
United States Savings bonds:
Series A
$194,268,129.25
—
145,277,475.00
Series B
.«
339,545,604.25
597,062,850.00
Adjusted Service Bonds..........—....
Total bonds..
$18,303,207,374.25
-
Treasury Notes—
■
,
334% series A-1936, maturing Aug.
254 % series B-1936, maturing Dec.
154 % series D-1936, maturing Sept.
354 % series A-1937, maturing Sept.
3%
series B-1937, maturing Apr.
3%
series C-1937, maturing Feb.
254 % series A-1938, maturing Feb.
256% series B-1938, maturing June
3%
series C-1938, maturing Mar.
234 % series D-1938, maturing Sept.
254 % series A-1939, maturing June
154% series B-1939, maturing Dec.
156 % series C-1939, maturing Mar.
154% series A-1940, maturing Mar.
154 % series B-1940, maturing June
154% series C-1940, maturing Dec.
154 % series A-1941, maturing Mar.
154% series B-l941, maturing June
$17,993,500.00
357,921,200.00
514,066,000.00
817,483,500.00
502,361,900.00
428,730,700.00
276,679,600.00
618,056,800.00
455,175,500.00
596,416,100.00
15,1930..
15,1936 —
15,1937—
15,1937—
15,1937—
1,1938—
15,1938.. :»
15,1938..
15,1938—
15,1939.. 1,293,714,200.00
15,1939..
526,233,000.00
15,1939—„
941,613,750.00
15.1940— 1,378,364,200.00
15,1940—
738,428,400.00
15,1940..
737,161,600.00
15,1941.. « 676,707,600.00
15,1941—
503,877,500.00
"
•
4% Civil Service
series
fund, series 1937
3,349,000.00
1941
Postal Savings System
30, 1939 and 1940
2%
series, maturing
June
100,000,000.00
-
Insurance Corporation
1, 1939
Federal Deposit
2%
.
3,227,000.00
Canal Zone retirement
to
'
318,400,000.00
Service retirement fund,
Foreign
s
$11,380,985,050.00
-
1937 to 1941
4%
,
retirement fund, series 1937
to 1941
4%
1,1936..'
100,000,000.00
series, maturing Deo.
Certificates of Indebtedness—
91,800,000.00
maturing Jan. 1, 1937...
254 % Unemployment
turlng June 30,
'
Trust Fund series, ma-
25,111,000.00
1937——
bills (maturity value)
Treasury
11,905,961,050.00
:■
Certificate Fund series,
4% Adjusted Service
....
......—
debt outstanding
Which Interest Has Ceased—
matured—issued prior to Apr. 1,1917
Total Interest-bearing
116,911,000.00
2,353,405,000.00
$32,679,484,424.25
Matured Debt on
Old debt
354 %, 4 % and 454% First
of 1932-47
4% and 454%
1927-42.
•
Second Liberty Loan
....
41,914,150.00
bonds of
1,555,200.00
—
—
454% Third Liberty Loan bonds of 1928.
454 % Fourth Liberty Loan bonds of 1933-38.
354% and 454 % Victory notes of 1922-23
Treasury notes, at various interest rates—
Ctfs. of Indebtedness, at various Interest rates
Treasury bills......
...................
Treasury savings certificates
-
—
Debt Bearing No
2,538,850.00.
55,588,500.00
731,500.00
19,580,400.00
8,377,900.00
24,217,000.00
288,300.00
■
i
'
-
159,546,220.26
Interest—
$346,681,016.00
United States notes
Less
$4,754,420.26
*
Liberty Loan bonds
-
gold reserve....
-
156,039,430.93
-—
$190,641,585.07
Deposits for retirement
of National bank and
Federal Reserve bank notes
408,816,195.50
2,033,882.61
—
and fractional currency...
Thrift and Treasury savings stamps, unclassi¬
Old demand notes
fied sales, Ac..—
3,272,930.04
.......
-—
—
Total gross
debt-.-.....—
Course of Bank
.
-ii&fi
C £ E 2 « ® 2
sgSfllii
eeesnich
Bank clearings
with
upon
Clearings
this week will show an
increase compared
Preliminary figures compiled
telegraphic advices from the chief cities of
a
year ago.
604,764,593.22
.........833,443,795,237.73
by us, based
the country,
862
Financial Chronicle
indicate that for the week ended today (Saturday, Aug. 8),
bank exchanges for all cities of the United States from which
Aug. 8,
it is possible to obtain weekly returns will be 5.9% above
those for the corresponding week last year.
Our preliminary
total
the
stands at
week ended
7 Months
7 Months
Inc.or
7 Months
7 Months
1936
1935
Dec.
1934
1933
$
%
$
$5,258,920,205, against $4,966,685,588 for
At this center there is
week in 1935.
same
Friday of 3.9%.
loss for the
a
Our comparative
Federal
Reserve
Dists.
1st
Boston
2nd
summary
for the week follows:
NewYork. .13
3rd
$
14 cities
7,913,271,648
44
Philadelphial2
44
11,126,818,139
Cleveland..14
44
8,826,954,328
5th
Per
$
+ 12.4
7,042,571,826
6,654,554,695
+4.9 103,006,883,221
10,097,247,712 +10.2
8,897,457,767
6,779,364,526 +22.2
6,011,516,289
3,231,010,613 +12.9
2,900,822,447
6,198,099,813
116,594,196,172 111,157,868,343
4th
Clearings—Returns by Telegraph
Week Ending Aug. 8
1936
We append another table showing the clearings by Federal
Reserve districts for the seven months for four years:
Richmond .8
44
3,648,330,046
94,888,935,345
7,608,938,899
4,866,394,854
2,265,633,728
1936
i-
Chicago.
1935
$2,413,405,311
250,962,653
-
$2,512,183,690
6th
Baltimore
59,783,058
New Orleans..
29,054,000
$3,746,635,029
635,798,475
$3,569,264,950
548,442,840
$4,382,433,504
876,486,701
$4,117,707,790
848,977,798
$4,966,685,588
4,029,489,946
44
14,030,352,384
11,792,740,564
9,924,702,518
2,232,453,341
7,428,404,560
5
44
3,929,100,767
2,865,673,162
3,433,249,786
3,070,139,039
2,433,326,772
2,260,086,391
1,952,087,344
3,010,218,957
Louis..
MinneapolislS
44
10th Kansas Cltyl4
11th Dallas
10
44
5,169,765,301
44
2,809,632,547
12th San Fran..20
44
7,234,571,419
+ 3.2
$5,258,920,205
44
25
St.
9th
+29.9
193,200,766
234,000,000
147,000,000
79,420,459
59,700,000
94,400,000
75,641,400
56,646,063
48,519,750
43,740,822
24,812,000
16
Chicago
8th
—3.9
Cent
Atlanta
7th
New York
+5.9
Philadelphia
Boston..._
280,000,000
_
Kansas City
176,157,000
.......................
.
............
.
.
..
88,236,616
.......
St. Louisj
70,100,000
San Francisco..
111,786,000
Pittsburgh
110,380,477
Detroit..
90,881,472
65,888,442
1.
Cleveland
Twelve cities, 5 days.
Other cities, 5 days
Total all cities, 5 days.
All
cities,
1
day
Total all cities for week
+ 19.7
+ 19.8
+ 11.1
+ 17.4
Total
+ 18.4
cases
For that week there
10,701,111,699
9,424,214,325
+ 5.0
July and the
+ 15.9
previous—the
was
+ 13.5
8,913,021,976
8,269,996,599
Month of July
are
given below:
Seven Months
Description
1935
1936
Stock, number of shares.
1936
1935
295,547,699
154,276,102
Railroad & mlscell. bonds $220,710,000 $178,323,000 $1,689,201,000
$1,238,224,000
228,268,000
444,135,000
34,793,159
29,427,720
Bonds
State, foreign, &c., bonds
23,338,000
33,881,000
U. S. Government bonds
38,523,000
23,471,000
Total
197,222,000
184,515,000
$282,571,000 $235,675,000 $2,070,938,000 $1,910,627,000
The
volume
of
transactions
in
share
properties
Exchange for the seven months of the
indicated in the following:
1933 to 1936 is
week
ended Aug. 1.
4.8%, the aggregate
having amounted to
the
on
New York Stock
decrease of
a
1,595,549,430
4,503,651,777
5,496,793,645
months of 1936 and 1935
seven
+ 6.4
has to be estimated.
of
3,918,052,405
2,089,508,436
+ 8.6 157,288,630,138 138,983,694,820
+ 14.7 57,056,379,761 46,681,509,419
64,814,832,253
32 cities
3,058,113,335
Our usual monthly detailed statement of transactions on
the New York Stock Exchange is appended.
The results for
+ 17.1
In the elaborate detailed statement, however, which we
we are able to give final and complete
present further below
results for the week
74,367,215,202
Canada
+ 35.8
+ 36.7
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
of the week in all
164 cities 187,638,155,859 172,816,839,501
Outside N. Y. City
+ 45.9
+ 60.4
.
+15.0
+ 19.0
+14.4
+ 9.9
2,608,158,102
4,562,717,193 + 13.3
2,303,938,017 +21.9
6,305,348,975 +14.7
3,502,633,844
years
1936
1935
1934
1933
No. Shares
clearings for the whole country
$5,475,427,749, against $5,754,460,783 in the same week
in 1935.
Outside of this city there was an increase of
9.6%,
the bank clearings at this center
having recorded a loss of
13.4 %.
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 are smaller by
13.1%, but in the Boston Reserve
District the totals are larger by
0.7% and in the Philadel-
No. Shares
No. Shares
No. Shares
Month of January
67,201,745
60,884,392
51,016,548
19,409,132
14,404,525
56,829,952
18,718,292
19,314,200
15.860,057
29.900.904
20,096,557
179,102,685
49,663,714
141.296,205
58.129,049
39,609,538
20,613,670
21,428,647
22,408,575
30,439,671
22,336,422
29,845,282
25,335,680
16,800,155
52,896,596
104,213,954
125,619,530
February
March
First quarter
April
May
June
Second
Shia Reservetotals show 6.6%. In the Cleveland Reserve
District by improvement of 25.3%, in the
)istrict the
quarter-
54,565,349
81,651,855
75,184,668
71,981,117
282,730,080
260,754,540
124,848,382
213,277,322
340,859,129
34,793,159
29,427,720
21,113,076
120,271,243
an
Richmond 'Reserve
District
of
5.0% and in the
Six months
Atlanta
Reserve District of 14.7%.
The Chicago Reserve District
totals register a decrease of
7.1%, the St. Louis Reserve
District of 17.3% and the
Minneapo is Reserve District
9.6%.
The Kansas City Reserve District enjoys a gain
12.7%, the Dallas Reserve District of 29.3% and the San
of
of
Francisco Reserve
July
The
following compilation
the clearings by months
covers
since Jan. 1, 1936 and 1935:
*
Xi>.
•.
,
MONTHLY
.
CLEARINGS
District of 9.9%.
SUMMARY OF BANK CLEARINGS
Clearings, Total All
Clearings Outside New York
Month
1936
Week Ended Aug.
Federal
1st
1 1936
1936
Reserve Dists.
Boston
12 cities
1935
220,387,601
3,238,707,554
3,728,109,042
NewYork__12
44
44
360,849,382
44
282,095,416
120,47^359
—13.1
3,076,566,737
+6.6
+25.3
+ 5.0
114,779,848
100,562,075 + 14.7
+ 7.1
426,752,111
303,958,623
260,327,018
225,174,005
201,746,713
192,999,813
107,169,723
88,440,682
5th
Richmond .6
"
6th
Atlanta
10
44
115,385,252
18
44
457,261,732
4
44
127,979,543
109,062,026 + 17.3
44
102,285,524
44
147,533,833
+ 9.8
+ 12.7
43,997,400 +29.3
+ 9.9
210,778,128
9th
Minneapolis 7
Louis..
10th Kansas City 5
11th Dallas
10
12th San Fran
_
_
Total
11
,
44
56,875,457
44
231,712,601
109 cities
Outside N. Y. City
Canada..
'
'
32 cities
w
j.
month
MxuakJAi.
5,476,427,749
2,339,663,079
303,934,751
UVUWJ
CV
96,032,409
84,953,068
355,995,727
313,386,397
98,747,696
93,069,141
93,175,181
82,143,369
84,719,551
130,884,740
+17,901,839
43,306,260
31,529,693
5,754,460,783
2,134,143,763
301,447,085
DUmUlUfi J
178,327,493
4,890,379,458
1,910,023,438
1,702,411,143
+0.8
V/i
a
there is
a
District of
its
credit
336,532,327
In the New York Reserve
436,479,238
lUi
KJ1~L\J
District
loss of
4.7%, but in the Boston Reserve Distiict
gain of 7.7%, and in the Philadelphia Reserve
13.7%—The Cleveland Reserve District has to
an
expansion of 31.2%, the Richmond Reserve
District of 15.6%, and the Atlanta Reserve District
of
22.7%.
In the Chicago' Reserve District there is an im¬
provement of
23.4%, in the St. Louis Reserve District of
25.5%, and in the Minneapolis Reserve D.strict of 14.3%.
In both the Kansas
City and Dallas Reserve dists. the increase is 25.
% ,and in the San Francisco Res've Distt. 13.9%.
July
1936
Federal
Reserve Dists.
1st
Boston
2nd
NewYork__13
14 cities
44
3rd
Philadelphial2
4th
Cleveland. .14
44
5th
Richmond .8
44
Atlanta
16
44
25
44
6th
7th
Chicago
8th
St.
44
$
July
1935
$
1,489,514,501
1,046,452,294
501,530,040
490,887,425
1,759,012,787
490,167,622
493,694,938
432,053,939
44
906,908,304
11th Dallas
44
429,077,286
725,813,079
343,394,107
Canada..
32 cities
$
1,092,786,140
16,479,860,371
615,088,357
164 cities
$
958,562,203
13,436,723,215
44
Total
%
1.136.348.954
997,871,756
27,178,376,656
11,730,070,169
+ 13.7
+31.2
+15.6
+22.7
+23.4
+25.5
+ 14.3
+25.0
+25.0
+ 13.9
26,161,329,201
1,560,846,342
1,341,323,694
1,159,899,191
qu.
80,102.437,056 73,979,917,639
+8.3 32,120,669,061 28,339,148,717 +13.3
160459779,203 146655 510,300
+9.4 62,637,145,033 54,924,961,474 +14.0
27.178,376,656 26,161,329,201
+3.9 11,730,070,169
..
The
course
9,889,870,779 + 18.6
of bank
clearings at leading cities of the country
for the month of July and since Jan. 1 in each of the last
four years is shown in the subjoined statement:
BANK
CLEARINGS
AT
LEADING
CITIES
1936
omitted)
1935
$
1934
Chicago
S
16,271
13,048
1,347
1,125
960
..
Boston
1933
1936
$
$
-.15,448
New York
JULY,
S
1935
$
16,062 113,271 108,002
1,018
8,799
7,401
1934
$
1933
•$
92,302
6,324
5,434
1,046
979
829
951
6,792
5,770
5,383
...
1,612
1,421
1,282
1,102
10,646
9,691
8,513
7,245
299
281
2,232
-^,991
1,620
453
403
361
2,539
3,727
2,613
2,121
568
445
432
4,039
2,922
3,584
3,061
2,581
260
234
1,131
400
—
Pittsburgh
633
..
San Francisco...
..
Baltimore
..
627
297
J
175
1,859
6,069
Cleveland
Minneapolis
..
New Orleans
1,603
1,407
2,469
1,236
2,039
1,036
2,696
297
265
248
2,319
1,894
1,730
1,376
274
227
280
1,795
1,623
1,463
1,346
1,605
106
93
85
907
755
685
478
356
294
202
3,052
2,594
2,097
811
104
96
83
908
775
685
507
154
127
118
534
139
...
..
Omaha
179
302
143
..
Detroit
Louisville.
177
351
316
..
1,533
210
401
385
..
1,659
254
497
Cincinnati
City
502
Denver
36
299
259
239
60
54
581
470
391
315
125
118
114
937
828
786
685
113
..
805
34
72
148
..
824
40
88
..
956
46
..
Milwaukee
Buffalo
105
85
70
707
666
576
404
124
..
Indianapolis
93
105
96
78
797
683
565
217
442
82
Richmond
Memphis
70
58
48
480
418
346
277
155
..
134
117
102
964
889
809
680
50
47
274
464
413
382
122
95
88
947
791
649
64
54
43
40
410
356
296
246
54
51
39
45
356
318
260
239
..24.868 24.214
19,913
22,579
69
910,194,663
841,428,313
Seattle
343,303,748
423,123,975
362,986,805
Salt Lake City..
Hartford
1,483,103,117
416,702,813
54
1,421,107,482
447,318,745
346,601,130
393,768,662
643,045,637
247,427,765
....
Other cities
547,841,831
292,531,262
Total
802,047,160
747,112,168
21,518,988,039
8,470,595,496
24,048,057,931
+ 13.1
1,381,540,494
1,791,559,241
7,986,186,466
..
2,310
1,947
1,606
543
172,850 159,992 146,076 129.856
14,788
1,475
12,825
11,213
9,168
Total all
27,178 26,161 21,519 24,054 187,638 172,817 157,289 139,024
Outside New York.ll,730
9,890
8,471
7,992
74,367
64,815
57,056
46,722
We
add
detailed statement showing the
figures
July and since Jan. 1 for two
and for the week ended Aug. 1 for four years:
now
our
for each city separately for
years,
'
"
100.232
..
Philadelphia
Kansas
IN
-Jan. 1 to July 31—
July
•
(000,000s
434,403,238
+3.9
9,889,870,779 + 18.6
1,379,898,636
9,286,206,357 + 15.8
9,737,553,076 +4.9
9,315,389,284 + 19.7
mos.
St. Paul
—4.7
44
Outside N. Y. City
1933
+ 7.7
5
44
1934
1,131,929,110
Minneapolisl3
10th Kansas City 14
10
12th San Fran. .20
Dec.
July
16,752,702,541
579,618,330
602,504,019
2.171.446.953
6
%
80,357,342,147 72,675,602,661 + 10.6 30,516,475,972 26,585,812,757 + 14.8
Providence
July
1,219,508,912
9th
Louis..
Inc.or
15,957,307,332
1,693,811,196
1,373,062,075
2d
July
VlVU/liUgO
$
9,327,878,816 + 15.4
7,940,213,169 + 18.4
9,317,720,772; + 11.1
26,954,628,002 24,751,406,537
+8.9 10,751,206,952
May.. 24,670,714,906 24,911,070,535 —1.0 10,217,801,560
June.. 28,477,094,148 24,317,430,567 + 17.1 11,151,660,549
5,053,748,452
+ 9.6
1935
$
%
_
148,717,041
—4.8
July.
For that month there is an increase for
the entire body of
clearing houses of 18.6%, the 1936 aggre¬
gate of clearings being $27,178,376,656 and the 1935
aggre¬
there is
1st qu.
April.
98,443,170
of
gate $26,161,329,201.
March.
3,436,775,277
338,608,245
$
1936
27,552,753,462 25,534,404,085
+7.9 10,765,917,637
23,981,565,914 20,792,170,354 + 15.3 9,399,170,788
28,823,022,771 26,349,028,222
+9.4 10,351,387,547
Feb
228,482,870
Cleveland..
St.
$
fo,
Philadelphia 9
Chicago
$
232,577,982
2nd
7th
1933
234,271,096
4th
8th
1934
Jan...
$
3rd
5
Dec.
'
1935
$
Inc.or
v
Volume
CLEARINGS FOR JULY,
Month of
SINCE JANUA RY 1, AND FOR WEEK ENDING AUG. 1
Seven Months
July
1936
1935
*
S
%
%
3,122,637
Me.—Bangor
10,263,675
1,045,745,925
2,947,186
1,623,572
1,532,041
3,020,770
14,529,483
8,279,372
54,024,077
18,332,437
6,638,500
45,917,000
3,532,237
Portland
Mass.—Boston
Fall River
....
...J.l
Lowell
New Bedford..
■—
Springfield
Worcester
Conn.—Hartford
New Haven
Waterbury
R. I.—Providence
N. H.—Manchester...
1,219,508,912
Total (14 cities)
Second Federal Res
District
erve
33,979,510
N. Y.—Albany
5,155,612
Binghamton
7,712,922
978,674,191
2,779,294
1,471,690
1,443,890
«
3,084,610
12,546,286
6,012,687
51,105,241
16,844,523
5,413,800
39,777,800
2,195,927
1,131,929,110
Elmira
.Jamestown
40,264,797
4,882,369
125,200,000
2,541,617
2,630,927
_
Third Federal Rese
rve
District—
2,469,341
Pa.—Altoona
**2,500,000
1,543,493
Bethlehem
Chester..
......
Harrisburg
.
9,129,243
--
.
.
Lancaster
Lebanon
Norrlstown
Philadelphia
Reading..........
Scranton.
Wilkes-Barre
York..
——
N. J.—Trenton
(12 cities)....
Total
Fourth Federal Res
Cleveland
erve
...
..........
Youngsto.wn
Pa.—Beaver County-
Total (14cities)...
297,428,991
45,228,400
1,856,202
929,347
District
Fifth Federal Reser
1,362,371
11,713,000
155,240,695
4,542,315
7,345,256
297,260,125
1,821,048
100,333,520
W. Va.—Huntington..
Richmond
C.—Charleston....
Columbia
Md.—Baltimore—
Frederick.......
C.—Washington—
579,618,330
Sixth Federal Reser
s
District
14,411,8
69,376,711
211,800,000
4,858,890
3,126,991
4,212,456
58,913,633
4,463,266
72,556,188
5,884,609
3,121,089
Tenn.—Knoxville
-
Montgomery
Miss.—Hattiesburg..
3,874,000
Jackson...........
*5,200,000
1,159,913
Meridian
538,279
Vicksburg
serve
—
—
Rapids
Jackson.
Lansing
Wayne
Gary
13,313,800
Indianapolis
82,206,000
6,795,367
Bend
22,726,054
3,906,413
87,696,896
2,104,574
4,619,583
35,568,907
16,461,851
1,658,361
1,682,987
Terre Haute
Wis.—Madison
Milwaukee
Oshkosh
Iowa—Cedar Rapids.
Moines
Sioux
City
111.—Aurora
Blooming ton
Chicago
Decatur
Peoria
—
1,347,075,882
3,784,895
20,781,496
232,577,982
479,928
—20.1
30, 671,550
828;,420,558
17, 521,364
15, 399,128
108,002, 007,248
196, 649,084
+ 15
+ 13.1
+ 14.3
5,443,873
1,117,614
6,640,334
1,668,744
29,200,000
603,914
577,793
3,620,317,020
8,194,000
469,363
7,089,800
—43.3
+0.7
228,482,870
220,387,601
—0.1
20, 027,532
17, 014,978
113,270, 940,657
226, 174,439
123, 580,899
110, 903,515
297
+ 10.5
+4.9
+ 15.0
33,700,000
615,375
589,154
716,959
8,924,515
6,014,645
—33.0
1,356,852
+15.4
+ 1.9
+2.0
27,697,624
1,141,674
24,873,593
510,428
—18.0
445,749
356,944
314,656
2,980,356,021 3,351,337,309
6,843,004
6,302,390
+4.3
3.022.113
3,423,135
+8.4
2,553,623
+54.6
2,478,570
—13.4
112, 339,796
87, 400,149
+ 10.0
3,135,764,670
6,766,511
3,734,947
+26.9
4,064,310
12, 038,991
11, 768,452
+2.3
390,669
529, 982,053
+8.4
19,861,410
18,461,346
+7.6
—9.1
574, 329,843
1,001, 663,252
—0.1
26,659,021
37,556,648
—29.0
+24.9
27, 177,117
1,002, 917,895
25, 311,138
116,594,196,172 111,157,868,343
+4.9
3,238.707,554 3,728,109,042
—13.1
13,897,138
*13,850,800
9,563,211
11,400,018
+21.9
418,389
459,269
—8.9
a289,430
*455,937
—36.5
8,435,265
+1*3*.4
390,783
340,889
+14.6
268,808
290,006
60,864,070
37,190,124
52,726,695
29,606,915
10,332,286
13,728,164
+ 15.4
+25.6
l",306"57l
1* *24*5^ 206
+4*9
1,187*979
*8*671293
349,000,000
1,756,329
2,391,267
976,297
327,000,000
1,200,905
2,423,775
+6.7
+46.3
293,000,000
250,000,000
1,086,495
—10.1
1,700,747
2,334,948
1,556,420
1,434,858
2,500,900
260,327,018
—5.1
+ 18.5
—5.4
+36.5
+ 12.0
+ 19.7
1
+29.4
+~22~4
+8.9
+30.5
+8.9
+4.4
+ 13.4
+ 17.8
+7.
+27.
+6.
+31.
+ 13.
10,645,775,000
37,698,633
73,250,635
9,691,000,000
+ 12.
+20
+29.
472,909
513,031
17,540,384
27,171,522
—24.7
15,845,235
23.846,088
3,076,566,737 3,436,775,277
372,914
400,132
';V
+:b+:
b
+ 13.7
+ 13.2
+9.9
+2.8
2,909,000
1,794,706
3,057,000
—5.2
+25.9
—4.8
10,097,247,712
+ 10.2
360,849,382
338,608,245
+6.6
303,958,623
46,433,577
1,406,646,945
1,894,429,076
298,522,600
+23.9
13,544,730
969,679
984,358
2,493,734
1,283,664
1,493,948
2,846,000
33,527,406
36,661,646
63,369,052
28,339,642
44,470,186
143,293,900
37,865,829
113,782,200
11,126,818,139
57,527,257
1,602,900,245
2,319,175,045
3,446,173
2,628,480
519,134
+7,4
b
11,746,846
15,540,990
6,489,456
+15.6
+ 18.3
+ 17.4
b
b
'
—1.3
*
b
b
b
52,915,592
81,248,227
10,211:300
+ 10.8
44,191,616
63,391,786
9,512,000
+ 19.7
+7.4
1,306*666
+6*4
35,389,927
62,255,695
7,432,700
37,968,072
58,106,032
8,007,800
1,382~953
+ 14.0
+22.4
1,046*391
+28.2
+20.3
+ 14.
+72.2
+11
+43.3
75,417,045
5,275,693
3,286,868
8,537,721
59,938,706
4,675,996
2,668,227
6,916,425
3,727,203,886
2,921,604,363
136,337^344
106*,7*78*663
+*2*7*7
96*.61*8*418
+5.4
+26.8
36,923,480
54,852,687
36,624,654
45,905,78f
+27.6
+0.8
+ 19.5
80,9901770
+39.8
8,286,954,328
6,779,354,526
+22.2
282,095,416
225,174,005
+25.3
201,746,713
192,999,813
+31.2
664,836 + 104.9
+ 13.5
10,318,000
+ 15.9
133,973,806
—2.7
4,668,512
+6.6
6,887,705
+ 14.3
260,079,224
7,700,664
73,583,000
963,837,903
31,376,494
52,131,763
4,286,395
69,254,000
889,122,207
27,701,787
43,643,579
+79.7
+6.3
+8.4
+ 13.3
+ 19.4
149,297
2,788,000
98,585
2,442,000
22,968,492
1,858,798,303
1,658,884,651
9,177,995
528,939,999
+ 12.1
10,169,754
+ 15.
"
b
b
+25.8
1,934,896
—5.9
83,003,061
+20.9
9,672,288
651,229,631
*93*01721
b
b
b
+12.8
+23.2
+23.4
Richmond—■
501,530,040
286,557
.
'
160,865
+78.1
2,521,000
31,553,224
793,610
2,806,000
28,458,967
830,656
—10.2
—4.5
25,613,141
753,487
62,309,456
+10.9
63*.682*471
+3*4
19,446^846
18*846*889
+3*2
120,470,359
+5.0
107,169,723
3,200,131
2,465,048
12,104,487
35,700,000
859,094
+29.8
+7.2
+17.1
2,055,416
9,620,106
570,676
50,724,262
15*.556*342
114,779,848
65,869*122
+5.4
+23.1
10,664,552
2,027,624
356,378,348
4,207^107
8,334,799
1,456,375
5,122,856
3,203,337
9,421,832
70,068,000
4,713,776
18,248,312
3,307,310
71,724,154
1,676,548
3,995,940
32,772,776
12,132,691
1,257,979
1,513,872
1,124,982,846
5,169,282
6,618,470
2,171,446,953
1,759,012,787
Rockford
+ 15.6
3,648,330,046
3,231,010,613
+ 12.9
+35.1
+19.9
96,553,953
448,295,853
81,535,418
+ 18.4
399,160,444
+27.7
1,386,600,000
+12.3
+ 15.4
Atlanta—
2,651,760
11,706,832
3,984,142
4,123,571
'
Springfield
Total (24 cities)
234,271,096
+27.1
32,687,035
+28.1
20,253,483
24,408,878
446,638,061
35,995,334
+23.7
1,202,000,000
29,314,454
16,487,373
21,877,841
—13.3
22,028,847
+4.0
26,831,000
+21.5
+ 11.3
35,255,841
8,863,591
3,857,321
+31.1
906,637,768
375,160,019
30,843,812
460,696,537
34,262,005
22,033,571
"26,193,000
36,840,074
7,465,795
3,482,495
755,281,006
+22.7
4,029,489,946
—42
+ 19.7
+6.7
+5.5
+5.8
+ 13.5
495,121,961'
3,9,461,020
*
11,636,667
,
12,977,559
41,800,000
990,733
+ 11.5
+ 15.3
35,900,000
816,370
88,440,682
*1,029,957
12,861,718
28,500,000
672,998
"
+22.8
"
+ 11.6
+ 19.1
"950"207
8*0*7*517
*12,500,000
10,450,000
+ 16.7
+7.5
14,*162*471.
12*,563*,138
+15.2
1,076,128
1,249,020
1*7*7
697-754
+ 19.6
10,502,000
1*2*7
14*.057,228
—13.8
965,620
+
+
535,694
10,702,000
8,256,470
998,049
—0.1
+2.4
b
—4.3
+ 18.7
b
b
b
b
*1*13*219
109,588
*118*061
*112*654
+20.0
27.609.962
24,251,717
+5.4
+ 13.8
21,304,696
18,286,594
+ 15.0
115,385,252
100,562,075
+ 14.7
96,032,409
84,953,068
3,502,633,844
15,434,938
2,594,367,449
—26.9
169,185
114,512,981
401,793
—57.9
587,077
11,289,061
3,052,361,402
104,653,855
+9.4
81,479,550
599,075
50,151,426
33,088,111
+35.4
2*537*468
2*.3*81*834
+6*5
2*.422*373
1,823,089
1,626,584
994,276
1,342,411
+21.1
1,185,900
665,364
+49.4
607,834
643,939
471.224
15*853*666
13*. 399+00
+1*8*3
11,*8*6*8* 000
10,260,000
1,138,551
4,767,941
800,365
+42.3
567,821
405,556
3,719,202
+28.2
3,250,451
3,004,897
17*4*80*,§61
16,630,285
+5.1
14*.*14*0*996
12,629,976
982,752
902,920
+8.8
591,053
236,226
7,601,766
3,697,677
6,602,015
2,970,687
+ 15.1
+24.5
5,504,050
2,998,428
4,942,683
2,107,541
+ 15.9
447,724
352,966
300,000
7,400,740,339
277,882,129
23,538,732
266,322,602
580,225
225,241,267
643,327
+42.7
920,484
2,947,140
2,496,972
126.164,110
4,315,373
+46.4
+77.5
+ 18.9
+28.7
+56.2
+28.1
+26.9
220,434,027
8,799,075,098
+26.8
+4.3
+58.6
794,747
12,457,091
24,434,666
58,385,126
11,011,926
34,912,684
22,131,557
62,264,217
417,913,000
26,993,068
120,371,062
20,985,035
469,964,540
11,204,142
26,143,673
223,156,185
81,609,054
9,014,106
10,752,639
1,027,330
792,025
1,305,710
4,287,422
+29.7
+ 1.4
934,713
681,168
688,890
2,467,436
1,212,977
1,007,435
+ 19.0
457,261,732
426,752,111
+7.1
355,995,727
313,386,397
District —Chicago—
1,159,498
478,374,038
5,166,699
11,475,579
1,907,914
6,336,120
4,856,287
Mich.—Ann Arbor...
South
+ 12.4
3,852,169
+17.6
35,837,236
5,453,146
490,887,425
Tampa.
Ala.—Birmingham ...
Seventh Federal Re
8,533,800
1,038,915
—8.1
—11.8
+2.5
+17.8
+9.6
+27.6
602,504,019
Macon
Mobile..
+23.7
10,040,000
589,366
2,765,969
1,582,573
10,773,274
625,658
2,337,508
1,191,106
12,187,258
3,024,544
5,606,204
Orleans
—....
Fla.—Jacksonville
Ind.—Ft.
35, 289,737
937 252,271
3,734,669
80,707,654
39,743,035
318,476,439
99,399,020
36,119,900
258,776,100
14,197,144
*275*666
259,441
532,341
2,428,785
1,247,007
7,779,802
7,153,807
43,112,979
(16 cities)...
.....—
Augusta.
Grand
237 802,941
+5.6
+ 18.5
+21.7
+8*7
—1.2
330,747,400
14,840,215
139,006,106
Nashville
Detroit
—15.6
2*91*611
,,593,227
2,699,602
1,343,947
11,726,995
4,238,492
-
+27.
+27
57,860,964
165,800,000
3,821,940
2,441,483
3,405,911
49,237,019
4,183,687
68,772,275
5,562,196
3,600,488
3,724,000
4,280,687
1,021,761
483,652
106,026,810
La.—-New
7,042,571,826
+6.8
190,000,000
625,789
"
"
Total (8cities).
Columbus
+7.7
7,913,271,648
465,195
1
+ 18.
1,046,452,294
Va.—Norfolk
Des
7,899,524
210,376,478
1,373,062,075
474,930
—
Ky.—Lexington
W. Va.—Wheeling
Flint
21,086,500
1.308.591
633,410,295
5.234.592
8,979,775
Greensburg
Total
4,506,313
556,741
426,443
913,275
453,163,416
4,967,898
7,082,679
Franklin
Ga.—Atlanta
586,142
1
Dlstrict- -Cleveland-
8,887,990
254,365,784
385,396,406
52,019,100
2,195,631
1,184,930
6,970,241
11,674,869
958,941
Mansfield..........
D.
1,260,691
8,379,908
1,489,514,501
Hamilton
;
~316"238
+5.8
+ 15.1
+30.4
+11.7
■+19.2
+ 19.8
+ 15.4
1,634,021
201,000,000
568,058
+0.8
—11.6
'
—2.1
b
1,693,811,196
Columbus.
Pittsburgh
1,908,822
1,694,480
2,435,622
1,421,000,000
5,959,525
9,850,454
4,574,013
6,858,173
Cincinnati
S.
+1&.7
+10.3
+6.1
+ 16.4
1,855,374
495,450
1,818,529
516,883
199,160,181
.411,110
«
$
$
£
—5.4
631,243
597,260
2,159,360
200,715,135
—1.9
r-Philadelph ia—
5,882,568
1,845,918
2,541,731
1,612,000,000
7,022,757
10,597,779
5,841,365
7,324,001
27,613,000
Ohio—Canton
Lorain.
9,465,031
18,837,103
+6.0
15,957,307,332 16,752,702,541
(13 cities)
Total
+1
+27.0
+11.9
York
New
148,366,973
3,092,207
2,629,658
15,448,306,487 16,271,458,422
New York
29,447,191
34,893,746
Rochester
18,902,958
17,882,655
Syracuse...i.......
14,352,248
19,594,326
Conn.—Stamford
1,535,522
1,719,083
N. J.—Montclalr.....
72,924,504
87,276,112
Newark, w.
165,085,289
150,069,718
Northern N. J
3,476,697
4,341,245
Oranges.........
Buffalo:..
18,033,239
49,781,922
6,069,274,848
19,577,708
10,182,683
+ 15.8
+37.7
+5.7
+8.8
+22.6
+ 15.4
+60.9
18,303,344
63,239,829
6,792,075,978
19,210,840
10,876,237
10,950,259
19,923,652
92,901,447
51,824,607
355,875,675
118,533,785
43,282,600
298,708,100
17,565,295
+8.9
+33.1
.+6.9
1933
1934
Dec.
%
First Federal Reser ve—Boston
2,866,249
or
Dec.
1935
1936
Dec.
1935
Inc.
Inc. or
Inc. or
1936
Week Ended Aug. 1
Ended July 31
Clearings at—■
Holyoke
863
Financial Chronicle
143
+ 34.2
+22.8
+37.7
+31.0
-23.7
-51.6
-41.3
--17.3
-44.2
--24.5
-18.1
-22.3
+25.5
+ 15.6
+8.5
+35.7
+31.8
+ 11.2
+ 19.7
80,975,041
12,753,607
42,182,808
31,231,193
81,156,835
479,763,000
37,085,643
140,588,179
26,433,673
581,067,161
12,587,072
30,149,301
240,892,251
98,514,427
10,876,557
+60.5
30,545,246
35,576,785
18,291,094
80,785,336
23,847,933
28,026,795
+23.4
14,030,352,384
11,792,740,564
+29.7
+ 10.8
+ 17.7
+38.7
+ 15.8
+20.8
+41.1
+30.3
+ 14.8
+37.4
+ 16.8
+26.0
+23.6
'
+12.3
+ 15.3
+7.9
+20.7
+20.7
Aw*
Chronicle
Financial
864
8, 1936
CLE A RINGS—'(Concluded).
Week Ended Aug. 1
Seven Months Ended July 31
Month of July
Clearings at—
Inc.
1935
1936
1935
1936
Dec.
%
Eighth Federal Res
Ky.—Louisville
erve
District-
399,939,934
143,161,209
68,957,641
——
Tenn.—Memphis....
Qulncy
615,088,357
Total (5 cities)
Ninth Federal Rese
M Inn.—Dul uth
15,862,069
316,568,969
1,620,104
113,413,711
9,310,229
4,914,000
898,775
3,097,235
8,172,032
3,149,856
3,530,709
12,860,033
..
Minneapolis.^.
Rochester........
St. Paul..
.......
N. D.—Fargo......
Grand Forks
Mi not
S. D.—Aberdeen.,.
Sioux Falls.
Mont.—Hillings..
...
Great Falls
Helena
District
rve
...
297,216
Lewistown
493,694,938
Total (13 cities)...
Tenth Federal Rese
rve
"
Neb.—Fremont
Hastings
Lincoln..
Omaha......
Kan.—Kansas
.....
City..
Topeka--........Wichita... ........
Mo.—-Joplin
... ...
Kansas City........
.
.
St.. Joseph.........
Okla.—Tulsa...
_.....
.
Colo.—Colo, Springs..
Denver..
Pueblo
Total
Texas—Austin
Beaumont
...
Dallas.....
El Paso
......
......
Ft. Worth
eserve
(10 cities)....
Twelfth Federal Re
Wash.—Bellingharn...
Seattle
Spokane..........
4,116,137
.......
Idaho—Boise
Ore.—Eugene
Portland..
Utah—Ogden .......
Salt Lake City
Ariz.—Phoenix
5,248,574
912,000
126,930,942
3,320,102
64,097,267
13,414,845
Calif.—Bakersfield....
5,837,465
19,984,705
Berkeley
Long Beach
Modesto...........
Pasadena..........
Riverside..........
Francisco
San Jose....
Santa Barbara.
Stockton
.
......
Total (20 cities)....
District
18,868,250
3,744,000
15,248,242
3,839,300
626,902,146
12,686,203
6,615,362
9,958,362
1,136,348,954
73,600,006
23,851,92;
66,500,0(K
+ 17.6
+ 13.1
11,208,103
+21.C
65,100,000
17,694,386
21,589,172
10,238.512
402,006
+57.7
420,000
412,000
+25.5
3,929,100,767
3,433,249,786
4
+ 14.4
127,979,542
109,062,026
+ 17.2
98,747,696
93,069,141
+ 18.6
+ 15.6
490,167,622
b
83,783,162
1,795,089,932
8,381,037
706,879,992
59,808,345
28,464,000
71,677,005
1,623,182,977
7,0.54,878
665,949,596
51,987,135
24,056,000
4,945,250
17,435,078
48,147,398
17,356,254
1,712,115
4,223,587
16,319,654
35,362,795
13,455,298
17,149,763
76,439,843
1,299,571
+ 31. 7
2,608,158,102
9
+9.9
2 ,994,865
8
98,170
—O.l
2
,879,404
6
60,085
153,006
—60.7
60,085
66 ,689,267
1
3,110,987
+26.3
2,061,335
26,586,321
5
b
b
9.862,755
b
b
Minneapolis
13,374,921
273,926,096
1,123,498
104,736,315
7,970,974
4,031,000
+44.2
+8.3
+ 16.8
734,257
2,878,269
5,648,497
1,907,516
2,769,828
12,721,305
231,463
+22.4
+7.6
+44.7
+ 65.
+27.5
+ 1.
+28.4
432,053,939
+ 14.3
2,865.673,162
+14.4
Kansas
+21.9
21,187,995
72,482,604
9
3,059,43£
4,040,603
+ 24.2
2,597,678
6
68,037,353
63,001,958
+8.0
56,771,139
4,023,761
62,317,896
1
25,307,136
1,972,368
20,756*927
+ 21*9
1,697,273
+ 16.2
18,100,534
1,569,166
14,287,413
1,517,753
~ 583*820
"*7*17*658
—18*6
*4*5+951
45i+571
0
672,362
444,340
+ 51.3
442,246
2*5*7,431
2
2,653,049
2,516*422
+ 6.4
2*.20+655
1,858,726
102,285,524
93,175,181
+ 9.8
82,143,369
84,719,551
3
3
~
8
2
City
466,261
566,317
10,717,822
29,472,470
2,666,437
104,679,910
2,518,957
+23.5
+8.1
+ 18.5
+21.1
3,348,257
3,848,295
84,084,909
956,385,858
74,575,416
66,004,471
94,611,532
13,918,697
2,695,723,032
93,501,883
248,019,180
18,606,709
797,119,997
20,017,065
725,813,079
+25.0
5,169,765,301
+2.7
+ 16.8
+24.8
+ 19.9
+ 16.3
34,759,840
27,026,691
1,282,522,306
113,231,157
183,618,734
65,372,000
980,239,139
10,868,873
23.245.903
88.747.904
+54.2
+37.4
+21.1
127,364,877
6,410,344 +202.8
+ 19.4
10,691,614
+30.2
15,166,851
+24.8
1,727,253
+24.1
400,841,574
+ 50.1
12,522,392
98,084
32,078,023
2,463,334
26,892,592
69 789,637
1
3,475,821
1,781*716
80 312,122
8
3,959,069
3,864,934
11 551,371
99,978,007
3,908,740
i
434,058
430,959
147,533,833
b
2,161,299
21,150,576
5
t
75,574
122,186
823 694,987
+ 19.3
41 272,021
1
2,468 699,540
86 532.886
193 135.887
+ 8.
16 280,179
682, 570,165
16, 314,862
+ 1.33
4,562,717,193
95*1
1,62*9*250
1*69+502
+ 2.4
2,839,283
2,395,575
91,896,510
+ 8.8
80,357,128
2,854,705
+ 36.9
3,247,985
67,026,567
2,923,779
"382*477
+ 13.5
475,794
574,228
497,296
—13*3
522,472
431,070
130,884,740
+ 12.7
117,901,839
98,443,170
+
-Dallas—
4,738,191
3,148,141
156,579,572
13,670,003
343,394,107
2,813,408
149,230,644
42,581,000
86,800,00(
26,982,93;
13,562,61C
634,00C
+25,0
serve
2
3
1,369,747
3,531,347
9,587,445
429,077,286
8
2,231,723,028
2,539,460,369
908,262,373
464,237,652
0
1,571,297
3,609,326
13,530,388
Wichita Falls
H*
2,002,373
15.138,000
+28.8
+ 14.7
+2.2
+41
La.—Sh reveport...... .
$
774,745,894
412,517,696
1,537,168
12,726.000
151,893,777
Port Arthur
San
+37.7
+28.2
236,276 + 119.9
+32.7
1,891,000
103,943,129
53,769,670
25,184,554
7,686,000
117,899,107
8,897,000
Houston...........
Yakima
Distric
4,865,458
3,676,158
195,334,917
16,396,932
29,302,033
Galveston
Total
533,630
873,097
14,727,355
154,242,709
19,408,663
12,767,690
19,742,523
2,156,202
497,272,679
18,794,117
36,410,277
2,881,927
124,047,429
3,050,006
906,908,304
(14 cities)
Eleventh Federal R
,
District
+21.1
330,327,547
2,510,000
....
1933
1934
%
$
Louis—
-St.
519,573
III.—Jacksonville..
r
Dec.
1935
1936
$
Dec.
%
Mo.—St. Louis
Inc.
r
or
-San
Francl
+ 15.8
42,772,408
23,697,407
1,112,462
967,235
+15,0
883,899
782,552
1,065,536,029
45,676,726
34,280,184
+33.2
33,944,883
23,868,654
156,501,158
5,329,023
5,254*322
3*. 83*0*918
1,835,000
1,516,000
+1.4
+21.0
4* 8*0*7*, 045
55,394,000
1,729,000
1,462,000
...
94,827,685
772,283,715
........
9,464,366
22,142,338
'61,318,911
a864*667
—11*4
1,979,659
+47.6
1,941,433
2,303,938,017
2,809,632,547
a~766~351
2,922,246
56,875,457
43,997,400
+29.3
43,306,260
33,933* 196
26*,676*967
io,321*160
6,890,000
630,220
4,471,000
778,768
7,449,000
554,670
+27*2
+11.3
21,000*689
8,293,000
27*.*0*4*9*313
23,379^381
+15*7
21,440*376
15*613*606
11,854,080
+7.2
10,621,844
9,603,952
2,8 51,101
+21.9
"b
b
1,585,569
31,529,693
-
SCO
+45.5
+21.8
1,933,333
122,479,493
35,751,000
2,683,780
5,150,225
891,000
113,631,902
+ 19.1
+53.4
+ 1.9
+2.4
+ 11.7
+ 18.7
+ 18.2
+26.0
+ 16.2
2,796,471
54,210,119
10,645,335
5,024,185
18,717,099
15,727,910
2,536,000
12,779,344
+6.8
16,754,305
12,848,023
947,057,895
248,664,000
23,680,632
32,440,936
5,685,000
790,056,134
18,760,024
409,881,723
791,063,082
231,711,000
93,728,913
37,42f,307
129,422,316
1
17,445,969
30,879,861
4,726,466
+ 5.1
+20.3
+ 13.2
697,983,539
16,244,807
355,605,036
.
12,705,090
+20.9
+21.5
+24.6
+27.3
+26.3
+27.7
+ 12.7
+27.8
+22.3
106,508,742
98,090,520
15,623,473
81,948,801
20,845,477
3,584,428,059
5,233,159
7,173,447
19,883,000
103,522,986
26,634,059
4,039,065,182
72,253,948
39,790,781
57,602,348
997,871,756
+ 13.9
7,234,571,419
6,305,348,975
2,810,602
568,080,663
9,616,689
Grand total (164 cities) 27,178,376,656 26,161,329,201
122,259,930
.
282,382
+24.1
75,512,927
30j966,757
+20.0
+47.6
+ 19.3
+36.6
+ 10.4
+31.9
+26.4
+38.8
+42.2
3*487*762
3,402*324
+2*5
2*79*7*917
3,070*747
2,544*485
+20*7
2,24*1*810
2,542,009
136,752*000
+5*0
108*,2*6+842
90,458*892
+ 12.2
+5.3
+42.0
2,197,545
994,402
1,248,448
1,529,879
888,938
178,327,493
148,717,041
+31.3
231,712,601
210,778,128
+ 9.9
+8.6
5,475,427,749 5,754,460,783
—4.8
+14.7
+3.9 187,638,155,859 172,816,839,501
2,534,896
1,114,381
1,983,448
+ 14.7
56,538,272
32,526,949
43,851,215
130,203,131
2,259,359
1,057,802
1,396,929
2,339,663,079 2,134,143,763
+9.6 1,910,023,438 1,702,411,143
1,154,128
1,890,379,459 5,053,748,452
Ki
Outside New York.... 11,730,070,169
+ 18.6
9,889,870,779
CANADIAN CLEARINGS FOR
Month of
74,367,215,202
64,814,832,253
JULY, SINCE JA NUARY 1, AND FOR WEEK ENDING JULY 30
Week Ended July 30
Seven Months Ended July 31
July
Clearings at—
Inc.
1936
$
Canada—
1935
$
Toronto
495,652,340
Montreal
423,595,619
Winnipeg
Quebec
282,777,757
83,788,267
81,700,153
18.804.708
Halifax
11,077,273
Vancouver ^
Ottawa
» ...........
451,638,760
369,958,352
209,677,738
64,560,762
102,417,952
18,577,702
10,025,131
16,688,791
22,727.952
7,430,419
6,914,754
11,389,046
16,244,095
16,423,811
1,363,412
2,004,987
6,298,331
Inc.
or
Dec.
■9.7
£
+ 14.4
+ 34.9
+29.8
—20.2
+ 1.2
+ 10.5
+ 19.4
+11.8
+2.5
+ 13.9
+9.8
+0.2
1936
1935
Dec.
3,346,673,858
2,598,985,368
647,038,438
121,117,434
67,466,566
134,812,888
170,839,898
51,229,620
49,560,957
85,347,400
616,296,247
1,270,557,883
431,862,760
111,790,513
64,191,125
108,982.405
145,842,737
+ 10.4
+ 13.1
+26.3
+23.8
+5;0
+8.3
+5
+23.7
+ 17.1
+8.8
+ 11.6
+11.8
19,919,088
Calgary.
Moose Jaw..
25,399,562
7,619,457
7,873,003
12.503.709
16,280,992
13,697,734
1,496,455
1,943,281
6,241,581
2,273,251
Brantford...
4,199,865
2,195,263
4,076,206
Fort William
3,342,722
2,503,699
2,864,513
1,099,653
3,001,039
2,612,224
4,640,031
11,152,760
1,524,339
3,067,399
2,581,647
2,013,767
2,102,874
3,999,279
2,274,863
3,263,436
2,528,273
1,759,452
1,998,644
3,276,169
+2.1
+ 14.5
+5.2
+22.1
13,998,398
25,324,906
21,331,193
+5.3
+ 10.4
+7.5
+ 18.7
1,560,846,342
1,379,898,636
+13.1
10,701,111,699
9,424,214,325
+13.5
Victoria
,
London..
Edmonton
Regina
Brandon
Lethbridge
Saskatoon
New Westminster
Medicine
Hat
Peterborough
Sherbrooke
Kitchener..
Windsor
...
Prince Albert
Moncton
Kingston
Chatham
Sarnia
Sudbury
Total (32 cities).....
a Not included in totals.
1,074,179
2,991,410
2,660,796
4,103,009
9,348,318
1,502,924
; b No clearings available.
—16.6
+9.8
—3.1
—0.9
+3.6
+3.0
+33.5
+25.9
+2.4
+0.3
—1.8
+ 13.1
+ 19.3
+ 1.4
—6.0
1936
1935
or
Dec.
1933
1934
$
3,693,324,147
2,940,674,602
1,604,382,947
534,596,099
Hamilton
St. John
Inc.
or
110,249,251
95,622,394
8,495,907
12,924,493
39,461,676
15,289,801
25,609,423
21,098,495
17,123,568
6,775,642
18,603,710
16,883,331
30,911,780
82,747,062
9,445,622
20,563,221
15,700,246
13,891,777
,* Estimated.
47,088,012
44,412,766
76,337,732
117,021,379
87,586,965
8,322,600
12,227,370
38,099,121
13,349,626
23,614,928
17,008,630
14,942,896
6,197,167
17,664,044
15,991,084
28,574,349
68,087,756
10,793,530
19,863,876
14,906,583
12,587,912
13,021,910
—5.8
+9.2
+2.1
+5.7
+3.6
+ 14.5
+8.4
+24.0
+ 14.6
+9.3
-5.3
-5.6
99,086,992
89,283,667
84,688,466
51,504,557
19,085,038
12,494,151
3,473,560
2,136,501
3,955,580
5,095,081
74,471,134
51,154,273
15,587,732
34,079,768
3,693,887
1,928,761
406,912
3,241,027
4,523,264
1,558,451
1,449,291
2,152,240
3,303,611
3,481,981
270,309
382,299
1,675,209
382,069
692,315
723^12
524,757
1,475,051
1,636,432
2,138,882
2,978,149
2,507,413
313,865
423,608
1,268,722
706,950
630,934
520,084
+ 11.0
+ 13.7
+0.7
+22.4
—63.3
—6.0
+ 10.8
+22.0
+ 12.6
4,011,478
4,340,907
2,235,672
3,620,402
1,601,756
1,565,062
—0.6
2,630,818
3,539,855
2,652,611
304,525
328,587
1,374,527
450,674
751,129
713,898
547,204
172,495
574,915
546,289
—9.9
—28.0
+ 16
+ 10.8
—24.3
+6.5
+9.7
+37.8
+35.9
184,861
—5.1
609,119
—12.5
—7.8
+
122,293,695
98,411,603
153,815,611
15,901,718
3,718,092
4,198,125
2,107,312
3,793,228
4,658,487
—5.4
175,427
511,198
87,047,571
80,152,074
16,304,693
+12.9
532,759
471,514
110,747,737
6,023,874
"
1,659,369
1,647,137
2,276,806
3,224,326
5,583,998
331,341
309,630
1,323,537
472,980
742,371
680,328
561,171
198,482
559,123
-8.2
930,365
963,344
—3.4
968,711
555,318
861,000
+21.5
1,861,280
2,159,919
—13.8
1,908,407
2,431,991
263,830
538,432
284,770
—12.5
290,085
300,695
—3.5
+3.5
577,268
483,307
613,008
—5.8
387,124
997,990
459,719
304,508
326,236
719,730
+5.1
+43.2
+18.7
+38.7
360,283
761,495
303,934,751
301,447,085
+ 0.8
336,532,327
436,195
551,776
516,542
552,361
341,261
484,044
363,542
560,579
436,479,238
,
Volume 14*
Financial
The following compilation, made up from the daily Gov¬
statements, shows the money holdings of the
ernment
the first of May,
on
865
The
TREASURY MONEY HOLDINGS
Treasury at the beginning of business
June, July and Augusty 1936:
Chronicle
following were the United Kingdom imports and exports of silver
registered from mid-day on July 13 to mid-day on July 20:
;
„
Imports
.
Germany
Belgium
Japan
Exports
.
New Zealand
Other countries
~
British India
£37,153
10,194
90,292
1,771
£63,040
5,952
15,108
3,525
295
S traits S ettlements
Germany
-
Denmark
'940
June 1,1936
Belgium-.—---
....
—
S
Net gold coin and bullion.
605,056,799
Net silver coin and bullion
404,694,303
Net United States notes.
Net National bank nQtes.
3,163,106
3,654,433
Net Federal Reserve notes
Net Fed Res bank notes.
15,539,785
429,903
7,298,940
6,523,135
_
Net subsidiary silver.,
Minor coin, &c
Total cash in Treasury.
Less gold reserve lund
Aug.l, 1936
July 1, 1936
4.
$
%
2,631,359
2,485,912
13,857,610
820.704
4,819,665
4,703,060
1,046,360,404 1,104,500.448 1,023,687,840
156,039,431
156,039,431
156,039,431
*961,977,267
156,039,431
867,648,409
805,937,836
Cash balance in Treas..
890,320,973
948,461,017
Dep. in spec'l depositories
account Treas'y bonds,
Treasury notes and cer¬
Dep. in Fed. Res. bank
Dep. in National banks—
707,785,750
—
13,033,383
11,507,974
42,610,731
1,811,368
2,736,085
41,242,976
1,890,151
10,180,496
39,929,315
2,136,600
2,229,656
9,590,370
To credit disb. officers.
41,583,525
2,081,220
2,580,805
Philippine Islands
Deposits in foreign deptscash
in
,
J
2,572,808
,
.
—
16—
17
Juy
July
July
Available cash balance.
2,441,970,519 2,358,422,242 2,681,510,204 2,230,467,707
18
20
Ju y 21
July, 22.
Aug. 1 $327,482,868 silver bullion and $1,833,021 minor, &c.f coins
on
(Per Ounce .999 Fine)
15-45 cents
16—.
45 cents
July 17.
45 cents
July 18.
—.45 cents
July 20———. -—.45 cents
July 21——
45 cents
19 ll-16d.
July
19 ll-16d.
19 ll-16d.
19 ll-16d.
....
July
19%d.
19%d.
19%d.
Average... ...19.646d.
NEW YORK
Oz. Std.-
2 Mos.
v
19%d.
19%d.
...
—
.
19%d.
' 19.656d.
,
New York recorded during the period
ENGLISH FINANCIAL MARKET—PER CABLE
The daily
as
closing quotations for securities, &c., at London,
as follows the past week:
«
reported by cable, have been
Mori.,
Aug. 3
Silver, per oz.
Gold,
p.
fine
statement "Stock of Money."
19 %d.
Holiday
138s. 8d.
Holiday
.
oz.
_
Wed.,
Aug. 4
Thurs.,
Fri.,
Aug. 6
Aug. 6
Aug, 7
Tues.,
Aug. 1
Consols, 2 % %
Includes
Cash
.
.19 ll-16d.
19 %d.
_
Sat.,
2,642,605,290 2,535,480,125 2,935,735,444 2,491,888,069
254,225,240
261,420,362
200,634,771
177,057,883
*
IN
-Bar Silver per
T
Ju y
£96,888
£140,350
wgek:
LONDON
Treasury
and in banks.
Deduct current liabilities.
not included in
.
IN
975,772,000 1,150,338,000 1,134,416,000
861,913,109
497,058,166
554,033,199
U. S_.
Net
_
Quotations during the
The highest rate of exchange on
984,307,000
Cash in
2,160
3,263
from July 16 to July 22 was $5.03% and the lowest $5.02%.
tificates of indebtedness
To credit Treas.
3,545
Other countries
s
537,252,243
393,057,335
2,813,642
2,171,038
15,784,820
1,043,759
4,471,551
5,382,879
587,990,908
406,378,622
662,399,576
407,514,288
2,640,720
2,543,037
16,220,250
471,475
5,487,268
7,223,834
France...
Egypt.
Holdings in U. S. Treasury May, 1, 1936
.
19 %d.
19 9-16d.
19 9-18d.
138s. 6d.
138s. 7%d.l38s. 7d.
19%ds
138s. 6d,
84 13-16
84 15-16
8415-16
Holiday
HoUday
Holiday
Holiday
106%
106%
106%
106%
Holiday
Holiday
117%
117%
117%
117%
8415-16
British 3 % %
War Loan.
__
British 4%
THE ENGLISH GOLD AND SILVER MARKETS
1960-90.—
We
reprint the following from the weekly circular of
Samuel Montagu & Co. of London, written under date of
July 22 1936:
GOLD
The Bank of England
July 15
on
as
Purchases
gold
reserve
Bar N.Y. (for.)closed
50.01
50.01
50.01
77.57
77.57
77.57
77.57
77.57
Treasury
'
only feature of the market and whose appetite appears to show no
abatement.
Prices have ruled at
considerable premium over the exchange parities.
a
NATIONAL BANKS
The
following information regarding National banks is
from the office of the Comptroller of the Currency, Treasury
Department:
CHARTERS
In addition it must be noted that £5,175,000 has been imported into England
France during the last week.
special buyer
may
In these transactions also the same
have been interested.
Quotations during the week:
Per Fine
Equivalent Value
of £ Sterling
Ounce
July 16
July 17
July 18.
July 20
July 21
July 22
Average...
—J—
-
l
12s. 2.77d.
___138s. lid.
138s. 10d.
138s.
9d.
138s.: 7d.
138s. 9d.
138s. lOd.
138s.
9.33d
....
The following were the United
12s. 2.86d.
Amount
12s. 2.95d.
I2s. 3.12d.
12s. 2.95d.
VOLUNTARY
12s. 2.86d.
12s. 2.92d.
Kenya
Tanganyika
British India
Australia
British India
Switzerland
Switzerland
Netherlands
Poland..
—-
Other countries
Other countries..........
—Clifford Neilson, formerly with Munds,
£846,173
Kingdom imports and exports of
British West Africa
___
-Trv
——...
British Malaya
—
—
_
_—... — .
-
-
.
-
-
-
.
-
-
_——
-
United States of America—
1
...
.
—
—
N etherlands
:
France-..-—
Belgium.
— ----
Belgian Congo —
- — - - - - - — ---------
- .
427,313
39,713
19,577
2,046,011
24,986
321,929
31,583
369
293,939
827,350
545,086
5,751,257
30,265
Jugoslavia
—... —
—
—
—
83,118
848,886
Other countries
"
;—
-
-
5,237,131
366,324
361,252
105,704
£6,412,715
SILVER
19%d. for both deliveries on Wednesday last.
well maintained for cash delivery up to the sailing
liveries, which compare with
of last week's mail steamer, which
is due in Bombay in time for the August
has since decreased slightly and
Supplies have been furnisehd by
settlement, but interest from that quarter
has turned more
to forward
China sales and Indian
There are signs
able at slightly
It
speculative resales.
probably prove more readily avail¬
level sellers are not keen.
that, while fluctuations within narrow limits
that the metal would
higher prices, but at the current
would therefore appear
may
delivery.
continue, no wide movement in
the near future.
American Business Shares-,
Inc.
Holders
Payable of Record
2c
-
Capital Corp., prior pref. (quar.).—
& Light, class B
American Laundry Machinery
American Steel Foundries, preferred
American Woolen Co., pref. (quar.)
American
50,523
week has again been one of only minor fluctuations, and pre¬
fresh feature.
Prices are today quoted at 19%d. for both de¬
Indian demand was
When
Share
Company
Sept. 1 Aug, 15
1 Aug. 15
Sept.
Sept. 12 Aug. 21
1 Aug. 22
Sept.
Sept. 30 Sept. 15
Sept. 15 Sept. la
7 June 11
Aug.
-
The past
sented no
are:
Per
-
32,654
Finland
1
_
The dividends
Name of
^
191,452
25,069
44,917
16,471
- - _ - _—- -—- -
__ —
been paid.
announced this week
have not yet
'
£13,872
£19,315,584
Switzerland..
grouped in two separate tables.
In the
bring together all the dividends announced the
current week.
Then we follow with a second table in which
we
show the dividends previously announced, but " which
are
we
123,400
British West India Islands and British Guiana—
Venezuela,
DIVIDENDS
Dividends
first
Exports
Winslow & Potter, is now with
Monahan, Schapiro & Co.
17 carries gold to
Imports
£7,548,425
319,723
i
with Eastman, Dillon & Co.,
Goodridge is now associated with Stout & Co., members.
New York Stock Exchange.
Tanganyika Territory.......„v--—
_
—Hugh G. Gray has become associated
Rockefeller Center office.
—John Edmonds
Southern Rhodesia..
Germany.
6,339
month of June, 1936:
New Zealand
NOTICES
at their
The following are the details of United
Australia.
CURRENT
44,936
£368,000 consigned to London.
....
AUTHORIZED
76,631
The SS. Mooltan which sailed from Bombay on July
Kenya
.......
British India.
-
July 28—Bank of American National Trust & Savings Association, San
Francisco, Calif.
Location of branch, unincorporated Town of Woodlake, Tulare County, Calif., certificate No. 1255A.
455,026
Belgium
Finland----.-.-..
£7,430,769
the value of about
50,000
108,473
Netherlands
30,000
5,175,254
64,763
5,111
16,898
20,759
France
6,000
64,924
France
26,224
19,942
New Zealand
Canada..-.....-.-.--—
£83,844
_
LIQUIDATION
July 23—The First National Bank of Killdeer, Killdeer, N. D—_
Effective July 1, 1936.
Liq. agent, H. M. Weydahl, Killdeer,
N. Dak:
Succeeded by Bank of Killdeer, Killdeer, N. Dak.
BRANCH
Exports
United States of America.
£1,702,008
7,750
9,296
352,764
200,000
July 31—Central National Bank in Chicago, Chicago, 111
Pres.: William H. Regnery.
Primary organization.
July 31—Upper Avenue National Bank of Chicago, Chicago, III-- 200,000
Pres.: Henry C. Murphy.
Cashier: Ralph N. Larson.
Con¬
version of the Upper Avenue Bank, Chicago, 111.
Kingdom imports and exports of gold
Imports
British South Africa
ISSUED
July 27—The Cosmopolitan Nat. Bank of Chicago, Chicago, Ill__$250,000
Capital stock consists of $100,000 common stock and $150,000
pref. stock (RFC).
Pres.: Jacob R. Darmstadt.
Cashier:
Daniel M. Shannon.
Primary organization.
registered from mid-day on July 13 to mid-day on July 20:
it'tife
44%
50.01
S.
this week at the daily fixing has practi¬
cally all disappeared into the capacious maw of a special buyer who is now
gold for
44%
50.01
U.
gold announced by the Bank during the week total
The £1,930,000 of gold on offer
from
44%
44%
44%
50.01
(newly mined) 77.57
against notes amounted to £230,994,404
£4,772,622.
the
price of silver per ounce (in cents). in the United
States on the same days has been:
U. S. Treasury.
compared with £225,600,525 on the previous Wednesday.
of bar
The
either direction is likely to occur in
American Cities Power
Anglo-Iranian Oil, Ltd. (final)—
—
Archer-Daniels-Midland Go.—,—
Artloom Corp., cumul. preferred-_ —
Atlas Corp. semi-ann—
$3 prefernce ser. A (quar.)
—
Atlas Powder Co. (quar.)__
—Extra
—
Bala win Co., 6%
preferred (quar.)
6% preferred A (quarterly)
Corp—
Berland Stores, 7% preferred
Blue Ridge Corp. (resumed)
Boott Mills (quarterly)
—
-
-----
— _ — _ — — _
Bristol-Myers tquar.)
—
—. ———
Buck Hill Falls Co.
Bullock's, Inc
California Art Tile Corp., $1% pref
Canfield Oil, 7% pref. (quar.)
40c
75c
50c
25c
$1%
$1%
h% 1%
10c
50c
50c
10c
7oc
h50c
--------
— up ~ «n m, ~ m
(quarterly)
50c
h% 1%
12%c
Capital Administration Co., Ltd., class A
$3 preferred
h$i
37.2c
75c
muar.)
(quarterly)
C3l«clS8'
15c
$1%
$1
Bridgeport Gas Light Co
Extra--—
20c
50c
Bendix Aviation
Brown Shoe Co.. common
$1%
—
Sept.
Sept.
Sept.
1
Aug. 21
1 Aug. 15
5 Aug. 15
1 Aug.15
Sept.
Sept. 10 Aug. 31
Sept. 10 Aug. 31
Sept. 15 Aug. 31
Oct. 15 Sept. 30
Sept. 12 Aug. 20
1 July 20
Aug.
Sept. 10 Aug. 20
1 Aug.
Aug.
1
Sept. 30 Sept. 16
Sept. 1 Aug. 14
Sept. 1 Aug. 14
Sept. 1 Aug. 20
Aug. 15 Aug.
1
Sept.
Aug. 10
Sept.
Aug. 24
Sept.
Sept. 21
50c
Oct.
12.8c
Oct.
75c
Oct.
Sept. 16
Sept. 16
Sept. 16
$1%
When
Per
Name of
Carolina Telephone &
Share
Company
50c
50c
SIM
Si A
50c
Preferred (extra)
_ —
Cleveland & Pittsburgh RR—
4% special
guaranteed (quar.)
.-—
Aikinan Corp., common
Extra......—.
■
1
1
Aug. 20
1
20
$I
(quar.)..
1
Compania Swift international....
Compressed Industrial Gases.
Consolidated Paper Co. (quar.)
Consolidated Steel Corp., pref
Crown Cork & Seal Co., Inc., com.
31c
$2M cumul. preferred
SI
$2
14,15c
Si
50c
...
......
—
25c
hOVc
50c
(quar.)
(quarterly)
56Mc
——_
25c
$1M
(quarterly)
7% pref
Curtis Puolishing Co.,
-
-
j
/iSi M
67 Ac
30c
Cushnaan's Sons, Inc., 7% pref. \quar.
Detroit Gasket & xvifg. Co., 6% pref
Electrolux Corp...........
Extra
,—
40c
—■
10c
-
—
40c
Employers' jte-Insurance Corp. (quar.)
Eajardo Sugar Co, (quar.)
—
Faultless liubber Co. (quar.)
Federal Light & Traction, pref. (quar.
Firestone Tire &-Rubber, pref. (quar.)
Fishman (M. 11.) Co. (quar.)..
.
Ft. Wayne & Jackson RR. Co., 5M % pref.(s.-a.)
General American Corp.
General
50c
50c
1
Sept.
1
SI A
15c
Sept.
Sept.
1
$2M
$1
(semi-annually)
Gfmiy, class A (quar.).
Oct.
SIM
Sept, 1
1
Sept.
Sept. 21
15c
...
1
5c
General Motors Co. (quar.).
Extra.-.--'i—. ——Preferred (quar.)——L—
Goodali Worsted Co
—
50c
75c
sept. 12
Sept. 12
Co., 7% pref. (resumed)._
$2 A
Class A, extra
—
•
General Finance Corp.
Great Lakes Towing
(Detroit).
—
$6 pref
(P. H.) Knitting Co. (extra)..
Greenfield Tap & Die Corp.,
Manes
30c
i
SI
______
10c
10c
Class B (extra)
SIM
Hanna (M. A.) Co., 5% pref. (quar.)..
Maroison-Walker Refractories Co—
50c
SIM
SIM
Preferred (quar,).——-F———
I
Hazel-Atlas Glass Co. (quar.)
5c
Mightower Oil & Refining (Canada) (monthly)..
6% preferred (monthly)
Hires (Chas. E.) Co., class A com. (quar.)_.._.
(Henry) & Co., A (quarterly)
Ho nestatte Mining (moncnly)
5c
,
Kansas Utilities, 7% pref, (quar.).
Kelvinator Corp. of Canada, pref. (quar.)
-
-
7% pref. (qu.)
6% preferred (quarterly)
Lawson (F. M.) Co., pref. A (quar.)
Preferred A A (quarterly)
Preferred B (quarterly)....^
Preferred BB (quarterly)
•_
-
Lehigh Power Security", $6 pref. (quar.)
Lincoln Stores, Inc. (quar.)
7% preferred (quarterly).
<x
Electric, class A & B (quar.)
Mallory Hat, pref. (quar.)
Matson Navigation Co. (quarterly).
May Hosiery Mills, $4 preferred
$4 preferred (quarterly)
...
SI.05
(quar.)
.'.j.
Metal Textile Corp., partic. 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)
So cumul. preferred (quarterly)
Middlesex Water Co. (quarterly)
Minnesota Valley Canning, 7% pref
Missouri Utilities, 7% pref. (quarterly).
Montreal Loan & Mtge. (quar.).
Mull ins Mfg. Corp., $7 preferred
Nacnman Spring-Filled Corp
!
_
_
'
...
...
Nebraska Power Co., 6% pref.
(quar.)
7% preferred (quarterly) —
Neisner Bros., Inc. (quar.)—*___
New Jersey Power & Light, $6 pref. (quar.)
$5 preferred (quarterly)...
Newmarket Mfg. Co. (quar.)
Nineteen Hundred Corp., class B (quar.)__.___
North River Insurance (quarterly)
Nova Scotia Light & Power Co., 6% pref, (qu.)_
Oahu sugar Co., Ltd. (monthly).
Oliver United Filters, Inc. (quar.)
Ottawa ingnt, Heat & Bower, pref
Sept.
SIM
SIM
Sept.
Sept.
Sept.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug,
2oc
20c
SIM
20c
50c
8/
21
Parker Wolverine Co., common
Pemigewasset Valley RR. (semi-ami.)___
I
Peoples Natural Gas Co., 5% pref. (quar'.)_____
Peoples Telephone Corp. 6% pref. (quar.)..i.
Pepperell Mfg. Co. (semi-ann.)
Phelps Dodge Corp
62Mc
Oct.
Oct.
Aug.
Aug.
Sept.
Sept,
Aug.
Aug.
Oct.
Sept.
Aug.
25c
Sept.
Pierce Governor Co. (resumed).
loe
Aug.
Pillsbury Flour Mills Co
40c
Sept.
Puulic Electric Ligat, pref. (quar.)
Purity Bakeries Corp
Russek's Fifth Ave., inc..
Reeves (Daniel), Inc. (quar.)
6M% preferred (quarterly)
Reliable Stores, 7% 1st preferred
Republic Insurance Co. of Texas (quar.)
Roos Bros., Inc. (quarterly)
Rutland & Whitehall RR.
Savannah Electric Power, 8% deb. A (quar.)
7 A % debenture B (quarterly)
7% debenture C (quarterly)..
6 A% debenture D (quarterly)
6% preferred (semi-annually)
6% preferred
Sears, Roebuck & Co. (quar.)
Secord (E.j Candy stores, Ltd. (quar.)
Simon
(W.) Brewery (quar.)
Socony-Vacuum Oil Co
;
Southern California Edison Co., Ltd—
6 % preferred series B (quarterly)
q
Southington Hardware, resumed, (( uar.).
.
_ -
■i
Resumed.
...
.
_i_
_
_
Petroleum
.
...
______ ... .
Beatrice Creamery 7% preferred
Belden Mfg Co. (quar.)
h$lM
50c
Sept.
75c
wept.
2c
25c
37Mc
12Mc
Aug.
Sept.
Sept. 15 Aug. 20
Aug.
1
....
15
Dec.
16 Dec.
5
Aug. 16 July 31
7
Aug. 31 Aug.
2 Sept. 5
Oct.
2 Sept.
Oct.
5
Sept. 1 Aug. 10
Sept. 14 Aug. 14
Sept. 30 Sept. 20
Dec. 30 Dec. 20
Nov.
35c
Feb.
h$3
Sept.
1 Aug. 10
Oct. 20
1 Jan.
1 Aug.
20
7
4yc
Aug.
10 July
15
Aug. 10 July
15
25c
Extra.. .1
■
(quarterly).
Bethlehem Steel Co. 5%
preferred (quar.)
31
Aug. 20
Sept.
1 July
sept.
1
Nov. 16 Nov.
2
1
Aug. 15 Aug.
1
Aug. 15 Aug.
5c
1
Aug. 15 Aug.
5c
Aug. 20 July 21
63c
1 Aug. 31
Oct.
Oct.
1 Aug. 31
SIM
81 At, Sept.
1 4ug. 15
SIM
Aug. 15 July 31
Oct.
1
SIM
SIM
Aug. 15 Aug. 10
1 Sept. 15
SI
Oct.
Oct.
1 Sept. 15
SIM
25c
5
Aug. 15 Aug.
25c
5
Aug. 15 Aug.
50c
Aug. IS July 25
25 c
Oct.
1
SIM
...
7% preferred (quar.)
Bigelow-Sanford Carpet Co., Inc
Preferred (quarterly)
.....______.2-V—
Blauner's, Inc. (quar.)
.-
Oct.
1
Sept.
Sept.
1
Sept. 4
Sept. 4
Aug. 15
1
Aug.
15
Aug. 15 Aug.
Aug. 15 Aug.
1
1
25c
$1 3^
25c
75c
(quax.)
37 Mc
37 Mc
±
SIM
SIM
n75c
50c
40c
SIM
82
'
30c
h$3 M
Oct.
Apg. 14a
1 Aug.
1
1. Sept. 15
Dec. 31 Dec.
Sept.
—
Sept.
Aug.
Oct.
50c
...
Brewer (C.) & Co. (monthly)
Monthly
Brooklyn-Manhattan Transit, preferred
Preferred (quar.)
Preferred (quar.)
Brooklyn Union Gas Co. (quarterly)
Buckeye Pipe Line Co. (quar.)
Oct.
50c
SIM
SIM
Oct
1
1 Aug. 21
Sept.
Sept. 16 Sept. 5
35c
Belding-Corticelli, Ltd.-(quar.)
Preferred (quar.).—
Berghoif Brewing Corp. (resumed)
Aug. 20
Aug. 31
Aug. 31
$3
50c
(quar.)..
Sept.
Oct.
7 5c
.
12Mc
Oct.
SIM
SIM
50c
...
Aug. 21
SIM
12
Sept.
Sept.
40c
(monthly)
Aug. 15
Oct.
1 Dec.
Sept. 30 Sept. 18
10c
wept.
S2
1 Nov. 25
Jan.
$2
S4M
Quarterly
,
6% preferred (quar.)
6% preferred (quar.)..
Blue Ridge Corp. $3 preferred (quar.)
Bon Ami, class B (quar.)
Border Co.. common (quar.)
Boss Manufacturing Co. common
Boston <Si Albany KR
10
10
1
15
15
15
15
15
15
Aug. 17
Aug. 15
Aug. 14
Aug.19a
Dec.
Aug. 10 July 31
1 Sept. 12
25c
15
31
5
25
Aug. 15
Aug. 15
15
15
31 Dec. 15
1 Sept. 10
1 Sept. 10
Aug. 15 July 24a
1 Aug. 25
Sept.
37Mc
Bloch Bros, Tobacco (quar.)
25
31 Dec.
Oct.
SIM
SIM
(quar.)
Preferred
Dec.
25c
...
Baton Rouge electric Co. $6 preferred
Beacon Mfg. Co. 6% preferred (quar.)
Best & Co.
Dec.
Sept. 30 Sept. 15
75c
Bangor & Aroostook RR. Co. (quar.)
'
19
20c
Baltimore American Insurance Co.
Preferred
2 Dec.
Aug. 10 July 31
Aug 20 July 20
1
Aug. 10 Aug.
1 Sept. 20
Oct.
Sept. 30 Sept. 15
25c
Santa Fe...
Ry. (s.-a.)
Plywood Corp.-
.
,
42c
wept.
SIM
15C
Atlantic & Charlotte Air Line
_
.
Oct.
SIM
SIM
1st 86 preferred.
Atchison Topeka &
Extra.
Holders
Aug. 15 July 31
1 Aug. 15
Sept.
1 Aug. 15
Sept.
Oct.
1 Sept. 15
Aug. 15 July 13
Aug. 10 July 31
Sept. 16 Sept. 1
Sept. 16 Sept. 1
1 Aug. 15
Sept.
Oct.
$1
.
Quarterly.....
Armstrong Cork Co. (quar.)...
Asoestos Mfg. preferred (quar.)
Preferred (quar.)
Associated Dry Goods 1st preferred
Associated Telep. <Sc Teleg. Co., 7% 1st pref
Bandini
When
Payable of Record
75c
50
Anheuser Bush, Inc. (quarterly)
Sept.
37 Mc
Sept. 15 Sept. 1
Sept. 15 Sept.!
Sept.
1 Aug. 16
Sept.
1 Aug. 16
Sept.
1 Aug. 14
Aug. 10 Aug.
5
25c
Anaconda Wire & Cable Co...
14
14
Aug.
Sept.
Aug.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
50c
$1M
$1M
Goods 7% pref. (quar.)7% preferred (quar.)___
American Re-Insurance Co
....
American Smelting & Refining
American Sugar Refining Co. (quar.).
Preferred (quarterly)
%
American Tobacco, com. & com. B (quar.)____'_
1
15
50c
American Paper
Atlas
81
15c-
h$ 4
20C
Aug.
Sept.
Aug.
Sept.
1 Aug. 17
Aug. 15 July 31
Sept.
1 Aug. 21
.
10c
25c
1
July 31
Aug. 10
Sept.
1
Jan.
87 Mc
50c
stock
(quarterly)
SIM
I
15c
Preferred (quar.)
American Metals Co. preferred
6
20
Aug.
July
Sept.
Aug.
Aug.
Aug.
$2
25c
-
-
Brach
I
$1M
Quarterly...
——
7% preferred (quarterly)
7% preferred (quarterly)
American Bank Note Co
Preferred (quar.)..
American Can Co., common (quar.)
American Envelope Co., 7% pref. A (quar.)
7% preferred (quar.)
American Factors, Ltd. (monthly)
American Hardware Corp. (quar.)
Quarterly
... . —
1.
American Hide & Leather preferred—
American Home Products Corp
American Investment Co. of III., cl. B (quar,)...
American Mfg. Co. preferred (quar.)
oct.
Sept.
Aug.
20c
preferred
Aluminum Manufacturing, Inc.
31
31
31
7
july 31
Aug. 29
Aug. 15
Aug.
20c
Altorfer Bros., preferred.:
Aluminum Goods Mfg. Co. capital
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
July
Aug.
July
*~~50c
certificates
(semi-annual)
Allied Mills
Sept. 10
Sept.10
July 23
Aug. 24
Aug. 24
Aug. 31
sept.
Share
Alaska Packers Assoc. (quar.)
—
Allegheny Steel Co. common
Common (extra) —
—
7% preferred
Allegheny & Western Ity. gtd, (semi-ann.) — _
Ailentown Bethlehem Gas Co. 7% pref. (qu.)__
Aug. 10
Aug. 10
Sept.
SIM
SIM
SI
OOc
Aug.
give the dividends announced in previous weeks
we
Preferred (quar.)
„
7 dc
15c
50c
10c
25c
Alabama Great Southern RR.,
Sept.12a
Sept. 1
Aug 31
Aug. 20
Aug.
3 '
Sept.21
Aug.
5
Aug. 22
July 31
July 31
Aug. 15
Aug. 15
Sept.
Sept.
$1
50c
Extra
Sept.17
25
July 25
wept.
Sept.
Aug.
75c
50c
'
7
20 Oct.
oOc
Oct.
SIM
3c
— --
Acme Wire Co.. voting trust
,5
SIM
SIM
SIM
Oct.
30c
/i$3M
(quarterly)————--.
Agnew Surpass Shoe Stores
10
18
18
15
20
31
31
31
31
31
31
25
27
26
Aug. 31
Aug. 15
Oct.
9c
Per
,
McColl Frontenac Oil Co.
National Pressure Cooker Co
Aug.
Sept.
Aug.
5c
Aug.
Sept.
SIM
Sept.
SIM
Aug.
Aug.
Sept.
Sept.
Aug.
Sept.
Sejit.
37 Me I Sept.
Aug.
SIM
SI-15 Aug.
h SI
Sept.
.0::
Sept.
SI
20c
Sept.
81 Mc
Sept.
Oct.
SIM
Oct.
SIM
Oct.
SIM
/l$12M
Kemper (Thomas) Co., 7% special preferred
Keystone Custodian Fund, series B-3...
Series S-4 (initial)
2 Oct.
Aug.
Oct.
8<?
2.3c
Name of Company
Aug. 20
Aug. 20
SIM
—
o
3.4c
u
Below
Aug. 11
15
C.)
Sept.15
Sept. 15
and not yet paid.
This list does not include dividends an¬
nounced this week, these being given in the preceding table.
Aug. 15
Sept.
Sept.
Sept.
Aug.
Oct.
15
15
Sept.
25c
Jefferson Standard Life insurance (N.
Louisville Gas
Wolverine Tube Co., extra.
July
Oct.
Oct.
Vogt Mfg. Co. (quarterly)
15
sept.
35c
International Nickel Co
Jaeger Machine Co. (Col., Ohio)
Lake Superior District Power,
31
Aug.
15c
—
25c
(quarterly)
Vick Chemical Co,
-Extra—-———
$2
SIM
Extra--——————--——-—————-Inuianapolis Water Co., 5% cum. pref. A (qu.)_
4
Aug. 18
Aug. 18
SIM
20
20
SI
_
4
Sept.
Sept.
Sept.
Aug.
25c
31
21
5
Aug. 31 Aug, 20
3
Aug. 15 Aug.
1 Aug. 20
Sept.
1 Aug. 20
Sept.
Aug. 15
Sept.
Aug. 14
Sept.
Oct.
sept.
Oct.
50c
(bearer)
...
series A
(bearer)
Trusteed Standard Oil Shares, series B (bearer).
Union Tank Car Co. (quarterly)—
;
United States Light & Bower Shares, series B._.
Utica Knitting, 7% preferred
■Veeder-Root, Inc. (quarterly)
15
15
31
15
Sept. 15
Aug. 17
Aug. 15
Aug. 15
Aug. 20
Aug. 15
Sept. 10
Sept.10
Sept. 10
Aug. 13
Aug. 13
Aug.
Aug.
Oct.
25cx
4v-—- —
(quar.)_.-_
________
Trusteed N. Y. Bank Shares
Aug. 15 Aug.
Oct.
25c
5c
Trusteeed Amer. Bank Shares,
10c
50c
Holt
Industrial News Service, extra.
Nov.
95c
25c
h$3
A pref—
Trustee Food Shares, series A
5
Aug. 20
Aug. 15
Oct.
Tri-Gontinental Corp., common.______—_-—.
15
31
21
Sept.
Sept.
Aug. 15
Aug. 15
Aug. 15
Aug. 15
July 31
Aug.15a
25c
-
$6 cumul. preferred
Holders
Sept.
Sept.
Sept.
Sept.
Aug.
Sept.
25c
Tip-Top Tailors, Ltd.
14
Aug. 31 Aug.
Aug. 31 Aug.
Oct.
I Aug.
1 Aug.
Sept.
1 Aug.
Sept.
Sept. 15 Aug.
Sept. 15 Aug.
Aug. 15 July
Sept. 1 Aug.
Sept. 21
Sept. 15
,
Extra.
20
When
Payable of Record
Oct.
(quarterly)
Timken-Roller Bearing Co.
20
12
(;
1936
8,
25c
Sterling Products, Inc.
Texas Corp. (quarterly)-.Extra
...—M .'
> vExtra
Crum & Forster Insurance Shares—
Common A & B (quarterly)
7% preferred
M%
Sept. 12
Aug.
1 Aug.
Sept.
Sept. 30 Sept.
1 Aug.
Sept.
2 July
Aug.
Aug. 15
1 Aug.
wept.
Sept. 15 Aug.
Sept. 1 Aug.
Aug. 15 Aug.
Sept. 8 Aug.
Sept. 15 Aug.
SIM
SIM
—.—--■
pref. (qu.)_.
(quar.)
Standard Steel Construction, class
1
Sept.
sept.
75c
—-
— ...
Extra--——-----—-------——--—-——
Standard Oil of Califorinia
1 Sept,12
Sept.
50c
Colt's Patent Fire Arms
Standard Oil of Indiana
1 Aug. 10
Oft.
■—- -— - - - -
—-
1
Mfg. Co. (quar.)
Columbian Carbon Co. (quar.)
_
Columbian National Life Insurance..
.....
Combined Trust Shares (Std. Oil Group) (bearer)
rreierred
Spear & Go., 85M Pref. (quar.)
Standard-Coosa-Thatcher Co., 7%
17
31
31
31
Oct.
—■>—
Gas Utilities.
Southwest Consol.
io
50c
—
series A registered. ..
Share
Name of Company
23
$4
10.be
Coca-Cola Co. (quar.)
Coca-Cola International Corp., com
Collateral Trustee Shares,
Sept.
8i A
Per
Holders
Payable of Record
Oct.
Sept.
sept. lo sept.
Sept.
Aug.
Aug. 15 July
Aug. 10 July
Aug. 10 July
$2 A
Telegraph (quar.)
prof, (quar.)....— —
Central Arkansas Public Service, 7% pref—...
Central Vermont Public Service, $Q pref. (qu.)_.
Chase (A. W.) Co., Ltd., pref. (quar.),.
Carter iWrn.) Co.,
Collins
Aug.
Financial Chronicle
866
(E. J.) & Sons
SI
14 Aug. 11
Nov, 15 Nov. 11
Aug.
Sept. 30 Sept. 25
Dec.
Sept.
Oct.
Sept.
31
Dec. 24
1
1 Aug.
5
Sept. 18
1
Aug. 15
Aug. 15 July
31.
Sept. 30 Aug. 31
1 Aug.
8
Sept.
Aug. 25 Aug. 20
Sept. 25 Sept. 20
(quar.)
SIM
SIM
SIM
75c
75c
BucKSKin National Mining
2c
Buffalo Ankerite Gold Mines. Ltd. (quar.)
5c
Oct.
15 Oct.
1
Jan.
15 Jan.
2
15 Apr.
1
1 Sept.
Oct.
1
Sept. 15 Aug. 21
Apr.
iept.
1
Aug. 15 Aug.
i
15
15
1
25c
1 Aug.
1 Aug.
5 Aug.
Aug. lo July
Aug. 15 July
35c
Oct.
Bunker Hill & Sullivan Mining & Concent'g Co.
Quarterly
50c
;
50c
Extra
15c
Burroughs Adding Machine Co
Byron Jackson (quarterly)
Extra
2oc
;
Calamba Sugar Estates (quarterly)
California Packing Corp. (quarterly)
Calif. Water Service, preferred
37 Mc
SIM
(quar.)
Campbell Wyant & Cannon Foundry
Canadian Oii Cos., Ltd. (quar.).i
8% preferred (quar.)....
25c
12Mc
-
—
S2
Sept.
Sept.
Sept.
30
30
1 Sept. 15
Sept. 15 Aug. 31
Aug. 15 July 31
8
Aug. 31 Aug.
Auk. 15 Aug.
1
Sept. 20
Volume
143
Financial Chronicle
Per
Name of Company
Share
Canadian Converters, Ltd. (quar.)
Carman & Co. class A
Carnation Co., 5% preferred
50c
Extra—
—-
-
-
-
-
-
1 Sept. 19
1 Sept. 20
2 Dec. 20
Oct.
Jan.
50c
75c
25c
SIX
50c
10 July 30
Aug. 31 Aug. 15
Aug. 15 July 31
5
Aug. 15 Aug.
Aug.
1 Aug. 15
Sept.
10c
Aug. 15 July 20
Aug. 15 July 30
5
Aug. 15 Aug.
10c
Nov. 16 Nov.
50 c
SIM
62Mc
Champion Paper & Fibre Co
6% preferred (quarterly)
Chartered Investors, Inc..(quar.)
Chester Water Service Co. $5M pref. (quar.)
Chestnut Hill RR. Co. (quar.)
Chicago District Electric Generating, $6 pref
Chicago June. Rys. & Un. Stockyards (quar.)
6% preferred (quar.)-i.——
Chicago & Mail Order Co. (quar.).-.
Extra--—-i
Chicago Yellow Cab Co., Inc. (quar.)
Chile Copper Co.------Chrysler Corp
•
25c
SIM
__
-
SIM
SIM
75c
...
SIM
S2M
SIM
37 Mc
12 Mc
50c
25c
—
5
Sept. 1 Aug.
Aug. 15 Aug.
Aug. 15 July
Oct.
1 Sept.
Sept. 1 Aug.
Aug. 15 Aug.
Sept. 4 Aug.
Aug.
Sept.
Oct.
Sept.
Oct.
Sept.
Aug.
Sept.
20
31
15
1
5
20
15
15
15
10
Aug. 10
Sept.
Aug. 20
Sept.
8
Aug. 28 Aug.
Sept. 15 Aug. 15
_
SIM
SIM
87 Mc
Jan.
1 Sept. 19
1 Dec. 19
Sept.
1 Aug.
87 Mc
Dec.
1 Nov. 10
12Mc
,
6
1 Aug.
Oct.
1 Sept.
5
Sept. 28 Sept. 14
Aug. 15 Aug. 3
Preferred (quar.)-—————.-— ......
Columbia Broadcasting A & B (quarterly)
Columbia Pictures $2M conv. pref. (quar.)._
Columbia Gas & Electric Corp.—
__
SIM
50c
68Mc
6% cumul. preferred series A (quar.)
5% cumul. preferred (quarterly)
5% conv. cumul. preference (quar.)__
Columbus & Xenia RR._
SIM
SIM
SIM
si.10
—
Compressed Industrial Gases
Concord Gas Co., 7% preferred--
*60%
h8 7Mc
Confederation Life Association (quar.)
SI
51
Quarterly
Connecticut Light & Power—
5M % preferred (quarterly
Consolidated Amusement Co.
(extra)
20
15 July 20
15 July 20
10 Aug. 25
1
15 Aug.
15 July 31
30 Sept. 25
15 July
Dec. 31 Dec.
50c
Oct.
SIM
Oct.
SIM
Consoi. Gas, El. Lt. & Pow. Co. of Baltimore—
Common (quar.)
Class A 5% preferred (quar.)
Consolidated Oil Corp. (quarterly)
15c
$5 pref. (quar.)
6% preferred (quar.)
6.6% preferred (quar.)
7% preferred (quar.)
6% preferred (monthly):
6% preferred (monthly)
6.6% preferred (monthly)
6.6% preferred (monthly)
Container Corp. of America
;
Continental Can Co., Inc., common (quar.)
Continental Steel Corp
Preferred (quarterly).
Copperweld Steel (quar.)
Quarterly
Corporate Investors, Ltd. (quar.)
Cosmos Imperial Mills, Ltd
Courtaulds, Ltd. (interim)
Cresson Consoi. Gold Mining & Mill Co. (qu.)__
Crown Cork & Seal, Ltd. (quar.)
Crown Drug Co., common
Preferred (quarterly)
Crown Zellerbach Corp., cl. A & B
Crum & Forster, preferred (quar.).
Cuneo Press, inc., preferred (quarterly)
Dayton & Michigan RR. (semi-annual)
8% preferred (quar.)
Delaware Division Canal (semi-annual)
Deere & Co., preferred (quar.)__
Delaware
Bound Brook IiR. Co. (quar.)
Delaware Division Canal of Pennsylvania.
Dentist's Supply Co. of New York (quar.)
Quarterly
7% preferred (quar.)
7% preferred (quar.).,
Denver Union Stockyards, 5M% pref. (quar.)—
Detroit Hillsdale & South Western IiR.
—
SIM
SIM
SIM
S1.65
SIM
60c
50c
55c
—
—
—
... — — —
...
55c
25c
75c
50c
SIM
20c
20c
5c
Oct.
1 Sept. 15
Aug. 31 Aug. 15
Nov. 30 Nov. 15
10c
Oct.
10 Oct.
43 Mc
15
7
Aug, 15 July 15
Sept.
Aug. 15
Sept. 15
Oct.,
Oct.
Sept. 15
Oct.
Sept. 15
Oct.
Sept. 15
Sept.
Aug. 15
Oct.
Sept. 15
Sept.
Aug. 15
Oct.
Sept. 15
Aug. 15 July 25
Aug. 15 July 25a
Sept. 1 Aug. 14
20c
2c
15
15
20
1 Sept. 15
1 Sept. 15
15
15
18
15
2M%
?
15
Aug.
Aug.
July
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
20c
25
1 Aug.
90c
Consolidated Cigar Corp., 7% pref. (quar.)
Consolidated Eaison Co..N. Y__^
July
July
July
July
15 July
31
31
14
31
31
1
50c
8
Aug. 15 Aug.
Sept.
1 Aug. 13
Sept. 30 Sept. 21
Sept. 15 Aug. ,31
Oct.
1 Sept. 15
Oct.
7 Sept. 15
Aug. 15 Aug.
4
Sept. 1 Aug. 15
Aug. 20 Aug. 18
Aug. 15 Aug.
4
Sept. 30 Sept. 19
50c
Dec. 21 Dec.
SIM
52
SIM
87Mc
81
35c
SIM
SIM
$1tS
7% pref. A (quar.)
.
11
Sept. 30
Dec.
Aug. 20
12Mc
12Mc
SIM
SIM
SIM
SIM
SIM
SIM
SIM
(quar.)—-1
pref.
1 Nov. 30
Aug. 15 Aug.
25c
General Cigar, Inc., preferred
(quar.)
Preferred (quar.)
Preferred (quar.)———I"»--I„-1-—
Preferred (quar.)
I_IZ
General Foods Corp.
(quar.)
General Metals Corp.
(quar.)
General Telephone
Corp., com
S3 conv preferred'J.
i. Globe Democratic
Publishers, pref
(llobe &
Rutgers Fire Insur. Co., 2nd pref. (qu.)
Globe W ernecke Co.,
pref. (quar.)
Preferred (quarterly)
Golden Cycle Corp.
(quar.)
45c
25c
_
-
_
-
_
_
_
----- -—. -
-
-
_
-
-
25c
_
75c
SIM
—
25c
SIM
Preferred (semi-ann.)
Dictaphone Corp.
Preferred (quar.)
Diem & Wing Paper 7 % pref. (quar.)
Distillers Co. Ltd. (final)
25c
Preferred
(quar.)
Greene Cananea
Copper Co. (quar.)
Greenwich Water & Das System. 6% pref
Gulf States Utilities
(quar.)
—
—
Co., $6 pref. (quar.)
$5M preferred (quarterly)
___.
Gurd (Chas.) & Co..
pref. tquar.)
__
Hackensack Water Co., 7% pref. A (quar.)—_
Hale Bros. Stores
(quar.)
Hamilton Watch, 6% preferred-
-
15c
-
S3M
Hancock Oil Co., class A and B
(quar.)____
Class A and B (extra)
Sept.
Sept.
Sept.
50c
$1
SIM
Hecla
Mining Co. (quarterly)
Heileman (G.) Brewing (quar.)
Hershey Chocolate Corp. (quarterly)
Convertible preferred
(quarterly)
Hercules Powder Co., preferred (quar.)
Hey den Chemica J Corp. common
15c
25c
75c
SI
SIM
25c
25c
-
Preferred (quar.)
----Hibbard, Spencer', Bartlett & Co. (monthly)
Monthly
1
Hobart Mfg. Co., class A (quar.)_
Hollander (A.) & Son, (quarterly)
,»
Extra
Quarterly.
Extra;
SIM
10c
10c
37Mc
12Mc
12 Mc
12 Mc
12 Mc
Hollinger Consolidated Gold Mines
5c
Holophane Co
;
40c
Preferred (semi-ann.)
$1.05
Honolulu Plantation (monthly)
15c
Hoover & Allison Co., 7% pref. (quar.)_--__
SIM
Hormel (G. A.) Co. (quarterly):
25c
Preferred A (quarterly)
si M
Horn & Hardart (New York), preferred (quar.)_
SIM
Howey Gold Mines, Ltd
2c
Idaho-Maryland Mines Corp
5c
Hluminating & Power Security (quar.)_
7% preferred (quarterly)
SIM
Imperial Life Assurance of Canada (quar.)
Quarterly.
Imperial Tobacco of Great Britain & Ireland—
Amer. dep. rec., ord. (interim)-u?7M%
50c
Ingersoll-Rand Co.,
'
_____
-
___
as.
-
75c
-------------
Class A (quar.)
Doctor Pepper Co. (quar.)
25c
25c
Dec.
Nov. 14
25c
Sept.
Aug.
Sept.
Aug.
Sept.
Aug.
Aug. 15 July
Aug. 17 July
Oct.
1 Sept.
Oct.
1 Sept.
Sept. 1
35c
Dec.
Quarterly
Jantzen Knitting Mills 7% preferred
Jar vis (W. B.) Co. (quar.)
Jewel Tea Co., Inc., common (quar.)
Kalamazoo Vegetable Parchment Co. (quar.)
Quarterly
Keith-Albee-Orpheum Corp., 7% preferred
Kelvinator Corp
Kendall Co., cumulative particpating pref. (qu.)
Cumulative participating pref. (partic. div.)__
Kentucky Utilities prior preferred
Junior preferred (quar.)....
Keokuk Electric Co., 6% pref. (quar.)
Klein (D. Emil) (quar.)
Kobacker Stores, Inc
Quarterly------————-—.--———
Dominion Bridge Co. (quar.)—-—
Dow Chemical Co
r30c
60c
SIM
7% preferred (quar.)
15c
Dow Drug Co—
50c
Duplan Silk Corp. (semi-annual)
----Eastern Gas & Fuel Association, 4M% pref—- $1,125
preferred (quarterly)
Eastern Shore Public Service S6M
pref. (quar.).
$6 preferred (quar.)
SIM
SI M
SIM
50c
Eastern Utilities Associates
(quar .)
East Mahoning RR. Co. (semi-annual)
Eaton Mfg. Co. (quarterly)
Eddy Paper Corp
El Dorado Oil Works (quar.)
$1 M
1
Aug. 15 July 31
Aug. 15 Aug.
1
Aug. 15 Aug. 1
Aug. 15 Aug.
4
Aug. 15 Aug.
3
Oct.
1 Sept. 15
Oct.
1 Sept. 15
Sept. 1 Aug. 10
Sept. 1 Aug. 10
Aug. 15 Aug.
5
—
Dec.
15 Dec.
5
50c
Aug. 15 Aug.
30c
-
Aug. 31
Aug. 29
Aug. 15
Sept. 1.5
Sept. 1
Sept. 30
Sept. 30
Sept. 15
Oct.
1
1
15
15
40c
Electric Auto-Lite
50c
Electric Products Corp
50c
Electric Shareholc ing Corp., $6 conv. pref
Electric Storage Battery Co. (quar.)-Preferred (quar.)
/SIM
—
50c
50c
Elgin National Watch Co
—
Elizabeth & Trenton RR. Co. (semi-ann.)
50c
$1
5% preferred (semi-ann.)
El Paso Electric Co. (Del.) 7% pref. A (quar.)_.
SIM
Oct.
Oct.
15
$6 preferred B (quar.)
_
El Paso Electric Co. (Texas) $6 pref. (quar.)
El Paso Natural Gas, preferred (quarterly)
SIM
SIM
$1M
Oct.
15
Oct.
15
Emerson Drug Co.,
(quar.)
4% guaranteed (quar.)
Emporium Capwell (semi-ann.)
Equitable Investment Corp. of Mass. (Boston) _•
European & North American Ry. (semi-ann.) __
Ewa Plantation Co__
—
8
20
20
30
30
30
Sept.
1
Oct.
1
Sept.
1
SI
25c
Dec.
Oct.
5 Sept. 26
50c
Aug. 10 July
50c
8% preferred (quar.)
Empire & Bay State Teleg. Co., 4% guar,
1
Aug.
Aug.
Aug.
Sept.
Aug.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Aug.
Sept.
Aug.
$1
,2s1
Oct.
22
15
21
1 Nov. 21
27
3 Sept. 14
Aug. 15 Aug.
5
$2
SIM
25c
SI
15c
_.
—
...
__
—
Preferred
—...
Preferred (quar.)
10c
37 Mc
87 Mc
SIM
25c
30c
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.)
Danders, Frary & Clark (quarterly)
Quarterly
Landis Machine Co. (quar.)
Quarterly.
Preferred (quarterly)—
Preferred (quarterly)
Lansing Co. (quarterly)
...
Lanston Monotype Co. (quarterly)
Leath & Co., $2M preferred (quar.)
Lee (H. D.) Mercantile Co. (quarterly)
Lessings, Inc
Lexington Utilities 6M% preferred
6M% preferred (quar.)
,
1
16
15
8
15
15
15
1
July
15
Aug.
1
July 25
July 25
Aug.
4
Aug. 20
Aug. 20
Sept. 22
Aug. 18
Sept. 15
Aug. 15
30
30
Nov. 16 Oct.
10
Nov. 16 Oct.
10
Aug. 11 July 27
Oct.
Sept. 15
Oct.
Sept. 15
Aug. 10 July 31
Sept.
Aug. 15
Aug. 15 Aug.
1
Aug. 15 Aug.
1
Sept.
Aug.
1 Aug, 12
8 July
8
Aug. 10 July 31
Aug.10 July 31
Aug. 16 July 31
Oct j
1 Sept. 30
Jan.
2 Dec. 31
Sept.
Sept.
9 Aug. 14
1 Aug.
3
1 Aug. 14
Sept.
Oct.
7 Sept. 30
10 Sept. 22
15 Sept. 19
15 Sept. 19
Sept. 1 Aug.
5
Aug. 15 Aug
1
Sept. 15 Sept. 1
Oct.
1 Sept. 15
dept. 1 Aug.
6
Dec.
1 Nov.
5
Sept.
Sept.
1
1 Aug. 15
Sept.30 Sept. 16
Sept.30 Sept. 20
Dec. 31 Dec.
Oct.
1
Oct.
21
1 Sep
sept. 15
15
Aug. 10a
Aug. 10a
Aug.
1
Aug.
1
Aug. 10
1 Sept.21
Sept. 1
Sept.1
Aug. 20
Aug. 20
Aug. 15
Oct.
SIM
SIM
SIM
40c
SIM
SIM
Aug.
Sept.
Sept.
Sept.
Sept.
Tuly
Sept.
Sept.
Sept.
Sept.
29
10
10
10 *24
23
Dec.
Dec.
Sept.
Aug. 10
Sept. 18
Oct.
Nov.
Oct.
20
25c
Sept.
Sept.
SIM
Sept.
Aug. 15
37 Mc
37 Mc
2
Oct.
Jan.
25c
Aug.
25c
Nov.
Nov.
5
5
SIM
SIM
Sept.
Sept.
5
Dec.
Dec.
5
25c
Aug.
Aug.
Aug. 10
Oct.
Sept. 15
Aug.
1
62
&
Aug.
Aug. 21
25c
Aug.
15c
Sept.
Sent.
Aug.
Aug.
July
July
7i50c
SIM
4
31
31
SI H
t
com.
&
com.
B_
Sept.
Aug. 31
40c
-
(quar.)
Liggett & Myers Tobacco
7
7
7
4
5
15
15
4
5
31
31
V
25c
Extra
Life Savers Corp.
-
hSlM
SIM
—
Kresge (S. S.) Co. (quarterly)
Li bbv-O wens-Ford.
15c
SIM
12Mc
SIM
Aug.
Aug.
Aug.
Aug.
Aug.
Sept.
Sept.
Sept.
Aug.
Aug.
Aug.
Aug.
Sept.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug. 14 July
Oct.
50c
20
Aug. 14 July
Oct.
SIM
1
Aug. 28
Sept. 25
Sept.
Oct.
Intertype Corp., common.-----—
1st preferred (quar.)
"
Sept.
Sept.
15
15
15
15
Oct.
SIM
Interstate Hosiery Mills (quar.)
1
Aug. 15
Aug.
Aug.
Aug.
Aug.
10c
....
Dec.
Aug.31 Aug. 20
Aug. 15 Aug.
4
97 Mc
62 Mc
Certificate^, Inc
International Business Machines Corp. (quar.).
International Harvester Co
15
Sept. 30
Sept.
Sept.
25c
Iron Fireman Mfg. (quar.)
10
10
Aug.
Sept. 20
Aug. 31
Aug. 31
Sept. 1
Aug. 26
1 Aug. 10
Sept. 14
Aug.
8
Sept. 15
Sept. 15
12Mc
Hart-Carter Co., $2 conv. pref.
(quar.)
Hartford & Connecticut Western RR.—
2% preferred (semi-annual)-Hawaiian Commercial & Sugar Co
19
37Mc
62Mc
Sept.
Sept. 1
Sept. 1
Sept. 1
Aug. 15
2
15
$2
1 Aug. 15
2
Aug. 15
SIM
Aug. 15 July 31
Aug. 20 Aug.
4
Oct."
1 Sept. 15
Sept. 1 Aug. 20
Aug. 15
Dec.
12 M%
1 Feb. 19
1 May 22
Aug. 15 July 24
Oct.
75c
—
1 Nov. 22
Mar.
Oct.
Aug.
15
14
14
3
7
Dec.
15
June
SIM
75c
h%\M
SIM
SIM
SIM
43 Mc
Sept.
Sept.
$1
1 Sept. 25
1 Aug. 22
60c
Jan.
25c
—
2 Oct.
Sept.
80c
35c
-
Nov.
Oct.
Sept. 10
Sept.10
Sept.15
Sept. 1
$3
(quar.).
Insurance
Sept.
1
25c
Great Lakes
Dredge & Dock Co. (quar.)
Great Western Electro-Chemical Co
Great Western Sugar Co.
Inland Steel Co
Sept.
Sept. 10
1 Aug. 15
1 Aug. 15
1 Aug. 21
1 Aug. 21
1 Aug. 17
1 Aug. 14
1
SIM
15
1
Sept.
Sept.
Sept.
Sept.
Oct.
25c
__
Extra--.--—
Preferred (quarterly)-—I-——
-
Dec. 31 Dec.
Jan.
(semi-ann.)
12
Sept. 30 Sept. 15
Oct.
40c
Grand Union Co., preferred.
Great Atlantic & Pacific Tea Co.
(quar.)
—
1 Sept. 19
Sept.
Gorham Mfg. Co., vot. trust certificates
Grace National Bank of N. Y.
Extra—
1 Aug.
Oct.
50c
60c
1
Sept.
50c
Extra
Quarterly. _"
Preferred (quarterly)
31
Sept.
—
Preferred (quar.)
fuller Brush Co. 7%
1 Aug. 31
Dec.
87 Mc
„
10 Nov. 30
Sept.
SIM
6Mc
SIM
SIM
S2M
SIM
________
Extra
Franklin Simon & Co."
Inc"~7~%~nref_~_~"III
Freeport Texas Co. (quar.)_____
Dec.
15c
Farmers & Traders Life Insurance
(quar.)
Florida Power Corp.
FitzSimmons & Connell Dredge & Dock
Sept. 10 Aug. 31
80c
Guaranteed betterment (quar.)
Ex-cell-O Aircraft & Tool
Corp
lair banks. Morse
Co.. 6% pref. (quar.)-—
lamise Corp., common
class A (quarterly)
Fansteel Metallurgical
Corp. $5 pref. (quar.)__
$5 preferred (quar.)
_7% preferred (quar.)__.__—
Holders^
When
Payable of Record
80c
___.
25c
—
Quarterly
6%
87 Mc
87 Mc
_
50c
Dexter Co
Diamond Match
Dixie Vortex Co.
Aug.
Aug.
Aug.
Sept.
Aug.
Aug.
Sept.
Sept.
c30c
10
Sept.
Sept. 1
Sept. 1
1
Aug.
Sept. 1
dept. 15
62 Mc
Consumers Power Co. $5 preferred (quar.)
-
_
SIM
—
•
Oct.
SIM
6M % preferred (quarterly).
Connecticut Power Co. (quar.)
Pittsburgh RR. Co. 7% gtd. (quar.)
7% guaranteed (quar.)
Guaranteed betterment (quar.)
1
Cincinnati Union Terminal Co.—
5% preferred (quar.).
5% preferred (quar
•.).
Cleveland & Pittsburgh Ry. reg. gtd. (quar.)
Registered guaranteed (quar.)
Colgate-Palmolive-Peet (quar.)
Share
Erie &
1 Aug. 15
Oct.
75c
----—
Chain Pelt Co
Per
Name of Company
-----
-
Centrifugal Pipe Corp. (quar.)
Quarterly
Century Ribbon Mills preferred (quar.)-
-------
31
Aug. 15 July
Sept.
SIM
SIM
SIM
7% preferred (quarterly)
7% preferred (quarterly)
;
Castle (A. M.) (quarterly)
Caterpillar Tractor (quar.)
Cedar Rapids Manufacturing &
Power^quar.)..
Central Cold Storage (quar*)
Central Mississippi Valley Elec. Properties—
6% preferred (quar.)
Central Surety & Insurance (semi-ann.)
-
| Holders
Payable of Record
fc50c
:
(quarterly)
—
When
867
Sept.
Sept.
Aug.
1
Aug. 17
SI
Financial
868
Per
Name of
Share
Company
30c
Life Insurance (quar.) —
Teleg., 6% preferred A (quar.)
Lincoln National
Lincoln Telep. &
$lj*
5c
Lindsay Light & Chemical
Link Belt
30c
(quar.)
Preferred
(quar.)
Special guaranteed (quarterly)
liii., spec. gtd.
Original capital
Original capital
$1.10
r25c
--.
Inc.,
-
—
HU
—--------
UK
_ -
U K
50c
owe
15c
$1>*
$1H
5c
5c
Extra.
16c
Mannxttan Shirt (quarterly)
----
-
Extra
43J*c
435*c
4
25c
$2
75c
UK
UK
UK
25c
UK
12Kc
12Ko
UK
UK
10c
15c
______
$1
$1
h$5K
$1 V4
Newberry (J. J.), 5% pref. A (quar.)
(s.-a.)
c50c
New Brunswick Fire Insurance
2oc
Extra
50c
New Jersey Zinc (quar.)
New York Air Brake (resumed)
50c
Nineteen Hundred Corp., class A (quar.)
Class A (quar.)
Nipissing Minds Co., Ltd
Nonquitt Mills (resumed)
Norfolk & Western Ry. (quar.)
Adjustable preferred (quar.)
North American Edison, preferred (quar.)
Norm era RR. Co. of N. J., 4% gtd. iquar.)
4% 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.)
_■
;
Oahu Railway & Land (monthly)
Oahu Sugar Co., Ltd. (monthly).
Occidental Insurance Co. (quarterly)
Ohio Power Co., 6% pref. (quar.)
-
Ohio Water Service Co. A
50c
50c
25c
$1
$2
$1
•ig
$1
75c
$1
UK
M
$1K
UK
15c
20c
30c
$13*
.$1
Au<. 27
Nov. 26
Aug. 15 July
Sept. 28 Aug.
Oct.
Sept.
Aug.
Sept.
Sept. 28 Sept.
Dec.
Extra
preferred..!!
Nov.
Aug.
(quar.)
Owens-Illinois Glass (quar.)
Pacific Gas & Elec. Co., 6% pref. (quar.)
5H% preferred (quar.)
Pacific Lighting Corp., common (quar.)
Pacific Southern Investors, Inc
Nov
Aug. 15
Aug. 10
Aug. 15
Sept.
Aug.
Aug.
25c
Parker Pen (quar.)
25c
Parker Rust Proof
37Kc
(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)
Peoria & Bureau Valley RR. (s.-a.)
Peteroorough RR. Co. (semi-annually)
_
87 Kc
75c
37 Kc
UK
55c
UK
Nov. 15
Dec.
Aug.
Sept
Sept.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug
Aug.
60c
21
Dec.
UK
37 Kc
Aug.
July
July
July
Sept.
Sept.
Sept.
Sept.
34Kc
July 31
31
28
31
31
15
22
Sept.
50c
28
31
Aug.
$1
luly
Nov. 14 Oct.
$2 K
I
10
Aug. 20 July
Aug. 15 July
Sept. 19 Aug.
Aug. 19 July
Aug.
Sept.
Aug.
Sept
10c
Pacific Fire Insurance (quarterly)
Extra
16
15
24
24
20
sept.
1 Aug. 12
Aug. 15 July 31
50c
$2 preferred (quar.)
Oswego & Syracuse RR. (s.-a.)
2 Oct.
Aug. 15
sept.
1
Aug.
1
Aug.
1
Aug. 10
Aug.
Aug.
Aug.
hUK
17
1
Aug. 15 Aug.
1
Aug. 15 Aug.
July 27
Sept.
Aug. 10 July 28
20c
40c
28 Dec.
30
31
15
15
17
Aug. 20 Aug. 10
5
Aug. 20 Aug.
Aug. 20
Sept.
Oct. 15 Sept. 11
Aug. 31 Aug. 14
Aug. 15
Sept.
Aug. 15
Sept.
1
Aug. 15 Aug.
Sept. 30 Sept. 11
Sept. 30 Sept. 11
Sept.15 Aug. 28
35c
II
5
$15*
$15*
15*c
Sept.
Dec.
Nov. 20
Sept.
Aug.
Aug.
Aug.
Sept.
Sept.
Aug.
Aug.
July
ruly
Oct.
Mar. 31
Oct.
Sept. 21
Jan.
Dec.
Aug.
ruly 24
Sept.
Sept.
Sept.
Aug.
Sept.
Sept.
July 31
Aug
1
July 24
$15*
$15*
37 5*e
37 5*c
$2
50c
60c
$15*
$15*
$15*
25c
Sept
Sept.
Sept.
Sept.
Sept.
Oct.
Sept.
Sept.
Aug.
Oct.
Aug.
Aug.
Aug.
Aug.
Aug.
Atig.
1 Aug.
15 Aug.
17 luly
20 Aug.
20 Aug.
15 July
1 Aug.
1 Aug.
18
21
21
10
6
5
3
1
31
10
10
31
20
20
20 Aug.
7
15 July 30
7
11 Aug.
7
11 Aug.
15 July 31
15 July 31
15 July 20
10 July 31
1 Aug. 15
1 Aug. 10a
1 Aug. 20
15 Sept. 1
1 Aug. 20
1 Sept. 21
1 Aug. 20
1 Aug. 20
10 ruly 21
1 Sept. 25
25
1
1
15
15
15
875*c
50c
Sept.
sept.
Sept.
Sept.
Sept.
Aug.
Sept.
Sept.
Aug.
Aug.
Aug.
Oct.
Sept.
15
15
10
15
15
24
24
21
1 Sept. 9
1 Aug. 10
Sept. 15 Sept.
15 Dec.
1
1
60c
Dec.
Aug 13 July 16
Sept. 10 Aug 20
Oct.
8 Sept. 17,
Oct.
Sept. 10
Oct.
Sept. 10
Oct.
3ept. 10
Oct.
Sept. 10
Sept. 1 Aug. 11
50c
15c
31 J*c
(quar.)__
$15*
25c
.--
$15*
Oct.
1
Sept. 21
12
Mills, 6% pref—
Electric, 7% pref. B (quar.) —
6% preferred C& D (quarterly)
Rolland Paper Co., Ltd. (initial)
—-—
St. Louis. Rocky Mt & Pacific Co., preferred--------
Oct.
4s
60c
-
Preferred.-
Aug. 20
Sept.
lc
el%
1
'10c
Nehi Corp. first preferred
3
50c
15 Oct.
50c
National Power & Light Co.
National Union Fire Insurance Co
Aug.
Sept.
50c
Oct.
Sept.
10
Aug. 15 Aug.
$15*
(quar.)
Reynolds Metals Co. (quar.)
5 K % preferred (quar.)
Rhokana Corp. (interim)—
-
10
$15*
$6 preferred
Final
Dec.
37 5*c
60c
Rochester Gas &
50c
Extra
Aug. 15 July 31
1
Aug. 15 Aug.
Sept.10
125*c
(quarterly)
Riverside & Dan River Cotton
UK
preferred (quar.).
Class B preferred (quar
National Liberty Insurance Co. of America..—
Sept. 15 Aug. 25
Sept. 15 Aug. 25
Dec.
Oct.
Jan.
3%
«
Remington-Rand, inc
Quarterly
5% preferred
Oct.
Jan.
$15*
(quarterly)1st preferred (quarterly)
2nd preferred (quarterly)
1
40c
pref,(quar.)
Sept. 18
Oct.
Aug.
$15*
Quarterly
2
8c
(quar.)-__
50c
Oct
$15*
$15*
(interim)
Oct.
25c
Class A
Sept. 15
1
2
Aug. 12 Aug.
Oct. 15 Sept. 11
Rand Mines
Jan.
75c
„
Extra
Oshkosh Overall Co.
"
Dec.
National Acme Co.. resumed
Ontario Steel Products, Ltd., 7%
1
Oct.
$1
6% preferred (quar.)
Mutual Telephone (Hawaii) (monthly)
(Me.)
(monthly)
sept.
sept.
Aug.
31
Oct.
Aug.
1
Sept. 15
Aug.
1
Sept. 10
Sept.
Sept.
Sept.
Sept.
37 5*c
37 5*c
mm
■*
$3 K cumulative conv. 1st preferred
Rainier Pulp & Paper, class A & B (quar.)-—
Jan.
20c
(quarterly)
*■»
Quebec Power Co. (quarterly)
Radio Corp. of America—
75c
Munsingwear, Inc
Muskogee Co.. 6% cum. pref. (quar.)
Mutual Chemical Co. of Am. 6% pref. (quar.) —
Onomea Sugar Co.
Aug.
Aug
Aug.
Aug.
Aug,
UK
UK
$2
-
'■»
-J*
cumulative preferred (quar.)
preferred (quar.)
preferred (monthly) —
preferred (monthly)
$5 preferred (quar.)
Public Utilities (quarterly)
Quaker Oats, preferred (quarterly)
Aug.
sept.
Aug.
Aug. 15 Aug.
-
'•
8%
7%
6%
6%
Oct.
(quarterly)
Old Dominion Co.
mm
pref. (quar.)..
:
Properties (A. P. W.j, Inc., class B
Public National Bank & Trust Co. (quar.)
Quarterly
Pullman, Inc. (quar.)
Public Service Corp. of N. J. (quarterly)
\2Kc
Morse Twist Drill & Machine Co.-_
Extra
Nov. 30 Nov. 30
Sept.
Sept.
Dec
Aug.
75c
------
—
Electric Power Co., 6%
'
•
Sept
Jan.
10c
——
5K% preferred (quar.)
Procter & Gamble (quar.)
Rapid Electrotype
—-—
Nat'l Credit Co.(Seattle,Wash.) 5%
National Lead Co. (quar.)
1 Aug.
60c
50c
25c
Plymouth Oil Co
5
20
10
10
20
12a
7
7
30
25c
Reading Co.
UK
UK
37 Kc
25c
Quarterly.
Preferred
sept.
1
1
1
10
1
1
31
15
31
Oct.
Aug.
Aug.
Sept.
Aug.
Aug.
Aug.
Aug.
25c
—- - - r - - -- —
4
25c
Moody'y investors Service, partic. pref.(quar.)
Dry Goods (quar.)Quarterly
Morris (Philip) & Co. (quarterly)
Morris Plan Insurance Society (quar.)
National Container Corp.
Preferred (quar.)
Nov.
-
Aug.
UK
Co. (quar.).
National Bearing Metals Corp
National Biscuit Co. (quarterly)
16
5
Sept.
Sept.
50c
7% preferred (quarterly),
7% preferred (quarterly)
Plymouth Found. A (qua.r.)_.._.——
Potomac
Feb.
$15*
$15*
r--
..
preferred (quarterly)
Extra—
Nov.
25c
_
Pittsburgh Screw & Bolt (resumed)
Pittsburgh Suburban Water Service—
$5K preferred (quar.)
-------Pittsburgh Youngstown & Ashtabula Ry. Co.'
Aug. 31
Aug. 31
50c
h50c
Moore (Wm. R.)
Mueller Brass Co.
Nov
Aug. 15 Aug.
Aug. 15 Aug.
(quarterly)
Preferred
7%
Aug.
Feb
$15*
Pitney-Bowes Postage Meter Co---—
Pittsburgh Bessemer & Lake Erie (semi-ann.)—
Pittsburgh Brewing Co., $3 K Pfef- - - - Pittsburgh Ft. Wayne & Chicago Ry. Co. (quar.)
Quarterly
—
7% preferred (quarterly)
1
1
Aug. 15
Aug. 15
$1
h$iy2
UK
—
Montreal Light Heat & Power
Aug. 15 Aug.
5
Aug. lo July 31
Aug. 15 July 31
Aug. 15 Aug. 5
jept.
i
Aug.
7
Aug. 31 Aug. 14
1
Aug
15 Aug.
preferred (quarterly)
5
Aug
-
-
1
Aug. 20
Aug. 15
July 31
1
Aug.
July 31
July 31
...
-
Extra.
Phoenix Finance Corp.,
Holders
When
Payable of Record
Nov
UK
$1**
$15*
Co., 7% preferred (quar.)
(quarterly)-.
Philadelphia Co. 5% preferred (semi-ann )
_
Philadelphia Elec. Power Co., 8% pref. (qu.)_
Phila.. Germantown & Norristown RR. Co—
Philadelphia Suburban Water Co.. pref. (quar.).
Phillips Petroleum Co. (quar.)
n
1
1
1
15
15
15
15
15
50c
20c
■--
Jan.
1 Sept. 21
2 Dec. 21
Share
Company
7% preferred (quar.)
7% preferred (quar.)
Pfaudler Co., preferred
hUK
7% preferred--.
pref
(quar.)
—
Oct.
Aug. 15 mly
Sept.
1 Aug.
Aug. 31 Aug.
UK
-
Aug. 15 July 31
Aug. 24 July 28
Aug. 15 Aug.
4a
Aug. 15 Aug.
50c
(quar.)
Monsanto Chemical
18a
1 Aug. 17
50c
Co.
Montgomery Ward & Co
Class A
1 Sept-
Aug. 15 Aug.
Water Co., 7%
Monolith Portland Cement, pref
Consoi.
July 24
July 30
July 15
Sept. 1
10c
— -
—
May Department Stores (quar.).
-McOlatchy Newspapers, 7% pref. (quar.)
7% preferred (quarterly)
Mclntyre Porcupine Mines (quar.)
McWilliams Dredging Co. (quarterly)
Mead Corp., cumulative preferred A
Mercantile Stores Co., 7% pref. (quar.)
Mergenthaler Linotype.—
Michigan Assoc. Telephone Co., 6% pref---—
6% preferred (quarterly)
Midco Oil Corp. (quar.)
Minneapolis Gas Light (Del.), 7% pref—
6 % preferred (quarterly)
Minneapolis- Honeywell Regulator_
Monmouth
Sept.
15
15
15
30
40c
(quar.)
Marchant Calculating Machine
Monarch Knitting, Ltd.,
\M%.
UK
$i^a
23*%
Lynch Corp. (quar.) —
-Macv (it
Co . Inc (quar.)..Madison Square Garden Corp. (quar.)
Maguiu (l.j A Co.. $6 preferred (quar.)
$6 preferred (quar.)
—
Managed Investments, Inc. (quarterly)—_—
Extra
Aug.
Aug.
Aug.
Sept.
UK
Electric $7 1st pf. (qu.)
preferred (quarterly)
Peninsular Telegraph
1
*1*
------—
Manufacturers Casualty Co.
1 Aug.12
31
UK
preferred (quar.)
Name of
10 Nov. 25
1 oct.
25c
Luzerne County Gas &
$6 1st
Dec.
2 Dec.
20c
Louisville & Nashville UK
Qu rmrly
Sept. 10 Aug. 25
Sept.
Oct.
UK
—
preferred (quarterly)---Loose-Wiles Biscuii Co., 5% preferred (quar.)
Lord & Taylor Co. 1st pref. (quar.)----------Los Angeles Gas & Electric Corp., b% pref;
Lunkenheimer Co.,
Preferred (quar.)
10 Nov. 25
Jan.
15c
—...
---—■
6% conv.
Ludlum Steel Co—
15
15
15
25
$2
preferred (quar.)
$6'/* cum.
27
$2
8% preferred tquar.)
8% preferred 'quar )
Loew's Boston Theatres Co, (quar.)-
Per
rs
July 31
Aug.
8
Dec.
$1.10
A & B (quar.)--
Lock-Joint Pipe Co
Loew's
2 Oct.
50c
-
:
Lone Star Gas Corp
Nov.
Aug. 10
Aug. 24
8ept. 1
Sept. 1
Aug.
Aug.
Oct.
1 Sept.
Sept.10 Aug.
15c
(quar.)..
Loblaw Groceterias, class
Hold.
Payable of Record
50c
--—
Extra
Little Miami
When
Aug. s, 19S6
Chronicle
-——-——
h$§
$15*
$15*
25c
$15*
$15*
San Carlos Milling
20c
San Francisco
75c
(monthly). —
Remedial Loan Assoc. (quar.)—
1
Sept.
1
Sept.
1
Sept,
Aug. 10
Sept. 30
Dec.
Aug.
Aug.
Aug.
July
21
13
13
27
31
1
Aug. 15 Aug.
Sept 30 Sept. 15
75c
Dec.
31 Dec.
15
50c
Aug.
L'
Aug.
25c
Quarterly
Dillon Co
Seaboard Oil Co. of Dela., (quar.)
Second Investors Corp. (R. i.). S3 pref.
Scot ten
Sept. 15 Sept.
6
1
15
(quar.)
7oc
Sent
20c
7% cum. preferred (quar.)
7% cum. preferred (quar.)
Shawinigan Water & Power Co. (quar.)_
Shenango Valley Water, 6% pref. (quar.)—_—
Sherwin Williams Co. (quar.)
z
$15*
$15*
Aug. 15 July 30
Aug. 20
Sept.
Oct.
Sept 19
Second Twin Bell Syndicate
(monthly)
15c
Servel, Inc., common.
5% preferred (quar.)
City Gas & Electric Co., 7% pref. (quar.)
Smith (S. Morgan) Co
(quar.)—
Solvay American Investors Corp., 53*% pef„.
South Carolina Power Co. $6 pref. (quar.)
Southern Calif. Edison Co. (quar.)
...
Southern Canada Power Co., Ltd., com. (quar.)
Southern Fire Insurance Co. (N. Y.) (s.-a.)
Sioux
Tide Water Power preferred
Aug.
Sept.
Aug.
Sept.
Sept.
Aug.
Dec.
Nov.
Nov.
Aug.
July
Oct.
Sept. 15
July 20
July 31
Aug. 15
Aug. 10
37 Kc
20c
60c
Aug.
Aug.
Sept.
Aug..
Nov.
Oct.
315*c
25c
15c
h$ 3
$15*
hUK
25c
$15*
5c
$1 V*
25c
$2
$15*
$15*
_$15*
56c
$15*
Aug.
luly
July
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Sept.
July
July
July
Sept.
Sept.
Sept.
Sept.
Sept.
Oct.
Aug.
Aug.
Aug.
Sept
Aug.
Aug.
$2
Sept.
$15*
49c
Sept.
Aug.
21c
Aug.
luly
$15*
$15*
Oct.
20
1
20
20
20
Oct.
Oct.
Sept.
Sept.
Sept.
Sept.
Aug.
Sept.
Aug.
Sept.
Sept.
July
Aug.
Aug.
Oct.
50c
Sept.
50c
Oct.
60c
Sept.
60c
Oct.
50c
Sept.
Aug.
90c
125*c
15c
$15*
—
1
31
31
3
15
17
25
10
11
July 31 "
July 31
Aug. 20
Aug. 20
July 15
$1.80
(quar.)
15
Aug. 15
Aug.
Aug.
Aug.
Aug.
Sept.
$15*
Daylight Picture Screen Corp. (s.-a.)
Tubize-Chatillon 7% preferred
7% preferred (quar.)
Tuckett Tobacco Co., Ltd., preferred (quar.)—
208 S. La Salle Street Bldg. Corp. (Chicago)
Quarterly
Quarterly
Union Bag & Paper Co
—
Union GiiCo. of Calif, (quarterly)
United Biscuit Co. of Amer., com
Preferred (quarterly).
Preferred (quarterly).
1
15
Aug.
—
;
19
luly 24
Aug. 20
mly 31
Aug. 15
Aug.
5
July 31
$1
$15*
45c
Toburn Gold Mines, Ltd. (quar.)
Jan.
sug.
$15*
(quar.)..
Tidewater Oil Co
Trans-Lux
$15*
$1
Stanly Works, 5% preferred (quar.)
...
Stein (A.) & Co. (ouar.)___
Sterling Brewers, Inc
Sterling Securities Corp. $3 1st pref
Strawbridge & Clothier Co., 6% pref. (quar.)
Stromberg-Carlson Telep. Mfg. Co., pref
Sun Oil Co. (quarterly)---—
Preferred, (quarterly);
Sunray Oil Corp. (Dela.) common..—Susquehanna Utilities Co., 6% pref. (quar.)
Swift & Co. (quar.)
—
Syracuse Lighting Co., Inc., 8% pref. (quar.)—
6 K% preferred (quarterly)
6% preferred (quarterly)
Tacony-Palmyra Bridge. 7K% pref. (quar.)^—
Tampa Electric Co. (quar.)
Preferred A (quar.)
Tampa Gas Co., 8% pref. (qUar.)
7% preferred (quarterly)
..
Telephone Bond & Share Co., 7 % 1st pref.
1st $3 preferred
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 Gulf Sulphur Co
Thatcher Mfg. Co (quar.)
Thompson (John R.) Co. (quar.)
Tidewater Associated Oil Co
$1
$1 5*
50e
—
Simmons Co. (resumed)
Sperry Corp., voting trust certificates
Spiegel May Stern Co.. $6K preferred
Stamford Water Co. (nuar.)
15c
"$15*
(
2c
10c
h$l K
Aug.
Sept.
Aug.
Sept.
Aug.
Sept.
Sept.
15
15
15
15
15
15
15
15
15
1
31
5
10
Aug. 10
July "21
Aug. 15
Aug. 10
$15*
Oct.
SeDt. 10
$15*
Oct.
Sept. 30
50c
Oct.
Sept. 19
50c
Jan.
Dec.
50c
Aug. 15 Aug.
7
Aug. 10 July 20
Sept. 1 Aug.
5
Aug.
1 July 15
25c
40c
$15*
$15*
Nov.
1 Oct.
19
15
Volume
143
Financial
\
Share
Company
75c
Oct.
4
Sept. 11
Westinghouse Electric & Mfg
Oct.
SIM
Jan.
Dec.
11
Aug.
Aug.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
8
8
14
31
31
15
15
15
15
15
15
Oct.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Sept.
Sept.
Sept.
Sept.
Sept.
Sept.
Aug.
Aug.
Aug.
Sept.
West Jersey & Seashore 6% spec. gtd. (s.-a.)__.
Westland Oil Royalty Co., class A (monthly).
Monthly
;■
Dec.
Nov. 30
Aug.
Preferred (quarterly)
Aug.
50c
United Engineering & Foundry Co. (quar.)
Preferred (quarterly)
United Gas Corp. $7 pref. (quar.)
United Gas Improvement (quar.)
SIM
SIM
25c
SIM
Preferred (quarterly)
58 l-3c
United Light & Ry. Co., 7% pref. (monthly)
54c
6.3% preferred (monthly)
50c
6% preferred (monthly)
7% preferred (moqthly)................... 58 l-3c
54c
6.3% preferred (monthly)
50c
6% preferred (monthly)
$2 M
United N.J.RR.&. Canal Co
Playing Card Co. (quar.)
Extra
.
.
.
vi w
.
(quar ).
25c
37 Mc
37 He
...
1
25c
25c
Dec.
1
1
Feb.
June
1 May 15
SIM
SIM
SIM
Quarterly
Upper Michigan Power & Light Co.6% preferred (quar.)..
6% preferred (quar.).
Utica Gas & Electric Co., 7% pref. (quar.)
Vanadium-Alloys Steel
Vapor Car Heating Co., preferred (quarterly)
Nov.
1 Oct.
60c
SIM
SIM
Preferred (quarterly)
Vauxhall Motors, Ltd. (interim)
Virginia Coal & Iron Co. (quar.)
Virginia Electric & Power $6 pref. (quar.)
25c
SIM
SIM
25c
.......
20c
40c
Extra
SIM
Waltham Watch Co., prior preferred (quar.)
$9
Washington Ry. & Electric Co
5% preferred (quar.)
5% preferred (quar.)...........
5% preferred (semi-ann.)
Weill (Raphael) & Co. pref. (semi-ann.)
Welch Grape Juice Co., preferred (quar.)
Went worth Mfg. Co. (quarterly)
Wesson Oil & Snowdrift. $4 conv. pref
Western Cartridge Co. 6% pref. (quar.)
Western Tablet & Stationery Corp
SIM
SIM
S2M
$4
.
*1%
Feb.
26
26
1 Jan.
1
\ug. 15 Aug.
Sept. 2 Aug. 20
1
Sept. 10 Sept.
Dec. 10 Dec.
1
Sept.
Sept.
Aug. 21
Aug. 31
Oct.
Oct.
Sept.
Sept.
Sept.
Aug.
Aug.
Sept.
Aug
Aug.
Dec.
Nov. 16
Dec.
ASSOCIATION
MEMBERS
OF
Aug.
1
Aug. 15
Oct.
Aug.
1
15
15
9
15
15
Bank of N. Y. & Tr. Co.
National City
Chemical Bk
& Tr. Co..
20,000 000
90,000,000
Guaranty Trust Co.....
Manufacturers Trust Co.
32.935,000
Hanover Bk. & Tr.
21,000 000
15,000,000
10,000,000
50,000.000
4,000,000
Cent
Corn Exch. Bank Tr. Co.
First National Bank
Irving Trust Co
Continental Bk. & Tr. Co
Chase National Bank
Bankers Trust Co
Title Guar. & Trust Co..
Aug.
Marine Midland Tr. Co.
New York Trust Co
Com'l Nat. Bk. & Tr.Co.
Public N. B. & Tr. Co..
Total..
HOUSE
1, 1936
15c
The following corrections have been made:
/ Payable in common stock,
mulated dividends.
) Payable
g
Payable in scrip,
47.043.000
of Allied Mills
stock div. of l-25s sb.
Inc., for each sh. of Corn Products Refining Oo. held.
I Electric Shareholding Corp.,
$6 conv. pref. opt. div. ser. ww., 44-1000th
the opt. of the holder SIM iu cash.
of 1 share of common stock, or at
m
mon
Pacific Investors Corp., H
stock, for each share held.
share of Pacific So. Investors, Inc., com¬
pref., ser. 1929, 1-32 of one share of com.
at the option of the holder 75c. cash.
Blue Ridge Corp. $3 conv.
n
stock, or
,
Kobacker Stores, Inc., pref. stock div. of one share
p
of common for
each share of preferred.
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
a
reduction of
y
to
Less depositary expenses.
A deduction has been made for expenses,
z
Per 100 shares.
Condition of the Federal Reserve Bank of
New York
The following
Bank of
in
shows the condition of the Federal Reserve
New York at the close of
12.231,000
35,171,000
160.987,000
10,806,000
36,771,000
93,746,000
14.354,000
22,393,000
3,542,000
422,000
2,103.000
46,376,000
46,726,000
0818,336,000
2.724.200
16.963,000
8.385,100
22,744.400
89,256.000
325,139.000
7.873.900
76,266.000
8,595.100
78,070,000
1,231,000
43,741,000
813,864 500
9,801,532,000
484,000
3.002,000
27.217.000
corresponding
date last year:
Aug.
6,
1936 July 29, 1936 Aug. 7, 1935
$
$
$
hand and due from
3,269,085,000 3,219,458,000 2,614,727,000
1,362,000
838,000
1,753,000
United Sates Treasury.!
Redemption fund—F. R. notes
73,173,000
Other cash f........................
Total reserves
—
77,296.000
returns
"Times" publishes regularly each week
number of banks and trust companies which
New
of
York
a
not members of the
following
are
New York Clearing House.
The
the figures for the week ended July 31:
Secured
S. Govt, obligations,
fully guaranteed—.
byU.
1,403,000
1,637,000
Total bills discounted——.
Bllla bought In open
.
market
Industrial advances
United States Government
securities:
1,213,000
1,302,000
1,521,000
2,471,000
3,040,000
2,734,000
3,773,000
1,100,000
7,104,000
direct and (or)
Other bills discounted
1.110.000
7.278,000
1,801.000
6,945.000
88^263,000
88,263 000
98,412,000
Treasury notes—
—
481,339,000
—
406,823,000
165,476,000
406 823,000
Treasury bills....
165,475,000
159,567,000
Government securities..
660,561,000
660,561,000
739,318,000
671,805,000
671,683,000
751,837,000
85,000
5,638,000
127,631,000
10,854,000
33,009,000
75,000
8,264,000
132.469,000
10,854 000
34.440,000
104.993,000
Bonds
Total U. S.
Other securities
Total bills and
——
gold
Foreign loans on
...
securities.;
Gold held abroad-.--.
Due from
foreign banks
Federal Reserve notes
of other banks...
Uncollected Items
•
Bank premises
All other assets
INSTITUTIONS NOT IN THE CLEARING HOUSE WITH THE CLOSING
OF BUSINESS FOR THE WEEK ENDED FRIDAY, JULY 31, 1936
NATIONAL AND STATE BANKS—AVERAGE
-
Other Cash,
Res. Dep.,
Dep. Other
Including
N.Y. and
Banks and
Gross
Elsewhere
Trust Cos.
Deposits
$
$
$
Bank
Notes
709,842,000
808.382,000
817,367,000
actual circulation
2,415,267,000
Deposits—Member bank reserve acc't.. 2,776,763,000 2,721,024.000
38,960,000
169,897,000
132,751,000
U. S. Treasurer—General account—
F. R. notes In
25,960,000
191,994,000
Foreign bank
$
Manhattan—
Grace National
Sterling National
Trade Bank of N. Y.
-v
$
89,800
6,131,400
598,000
24,695,500
20,887,000
5,326,188
3,515,000
1,003,532
176,586
2,256,200
2,197,000
71,577
Other deposits
29,440,800
24,145,000
5,547,223
88,000
3,938,000
991,000
TRUST COMPANIES—AVERAGE
643,000
5,141,000
FIGURES
$
%
Manhattan—
57,219,900 *5,940,500
232,345
8,826,983
12,330,839 *1,138,331
19,933,600 *3,491,800
29,209,400 *11,448,200
72,343,624 12,914,704
"
Federation.
Fiduciary
Fulton
Lawyers
United States
Dep. Other
N. Y. and
Batiks and
Gross
Elsewhere
Cash
Invest.
Trust Cos.
Deposits
$
11,095,500
830,952
625,917
860,600
3,436,700
17,833,394
$
%
2,256,200
2,508,581
66,175,800
716",000
20,327,000
41,447,400
73,954,406
10,503,126
11,759,369
Brooklyn—
Brooklyn
Kings County
88,558,000
34,959,828
2,798,000
2,362,192
Includes amount with Federal Reserve as
ciary, $795,812; Fulton, $3,268,800; Lawyers,
34,505,000
7,926,995
169,000 118,513,000
40.071,793
follows: Empire, $4,466,100; Fidu¬
$10,697,900.
for contingencies
All other
Res. Dep.
Loans
Disc. and
Empire
124,535,000
Capital paid in
—
—
Surplus (SectlOD 7)
—-—-——
Surplus (Section 13b)—............
Reserve
liabilities
—
of
7,969.000
177,480,000
50,231,000
50,825,000
7,744,000
8,849,000
6,014,000
129,684,000
50,221,000
50,825,000
7,744,000
8,849,000
5,848,000
104,127.000
59,466,000
49,964.000
6,863,000
7,500,000
5,750,000
4,193,033,000 4,155,377,000 3,583,188,000
Total liabilities.
Ratio
20,905,000
181,998,000
3,127,468.000 3,093,824,000 2,639,676,000
Total deposits.
Deferred availability Items
Brooklyn—
People's National._.
11,937.000
32,194,000
4,193,033,000 4,155.377,000 3,583,188,000
Total assets
Liabilities—
Loans,
Disc, and
Investments
256.000
4,802,000
FIGURES
'
♦
61,080,000
3,344,011,000 3,297.592,000 2.677,169,000
Bills discounted:
558,678,000
44,YOV,OO6
business Aug. 5 1936,
comparison with the previous week and the
.
3.871,500
h On account of accu¬
In preferred stock.
k Corn Products Refining Co.,
Time
526.660,000
Ins.,
Payable jn stock.
e
•
per
The
are
...
SIM
Average
3,440,500
69,091,300
,517,081,300
...
!....
Deposits,
Average
official reports: National, June 30, 1936; State, June 30, 1936; trust
companies, June 30, 1936.
e As of July 1, 1936.
Includes deposits in foreign branches: a $241,681,000; 6 $79,050,000; c $86,047,000; <*$28,195,000.
"
♦As
10
5
19
19
10
Aug. 15 July 31
25c
25c
5
Deposits,
10,000,000
5,000,000
12,500,000
7 000,000
5 775,000
Sept. 1 Aug.
Aug. 15 Aug.
Sept.
1 Aug.
Oct.
1 Sept.
Oct.
1 Sept.
Consol. Amusement Co. extra div. of 30c., N. Brunswick Fire
div. of 50c. regular, and an extra of 25c.
Payable ih U. S. funds,
122,927,400 cl,866,283,000
103,964,300
500,000
25,000,000
Fifth Avenue Bank.
Nov.
Transfer books not closed for this dividend.
Less tax.
Net Demand
59.102.000
1
1
Nov.
SIM
c
x
131.251,000
10,955,200
412,981,000
25,431,700
*53,305,400 al,453.973,000
467,959,000
52,685,400
177,649,400 61,426,059.000
484,142,000
14,007,300
769.183.000
63,661,200
249,335,000
•16,662,900
615.907,000
90,750 600
e78,407.000
Bank
10c
50c
12Mc
60c
a
u
$
6,000,000
20,000,000
Bank of Manhattan Co..
15
SIM
Wrigley (Wm.) Jr. Co. (monthly)
Monthly
Yale & Towne Mfg. Co. (quar.)
Zeller's, Ltd., 6% preferred
Gold certificates on
w:;,
Dec.
50c
15
YORK CLEARING
and
45c
......
Oct.
Profits
Surplus
Capital
Members
SIM
SIM
Wlnstead Hosiery Co. (quarterly)
Aug. 15
July 31
Aug.
Aug.
Undivided
*
•
Clearing House
10c
SIM
Wool worth (F. W.) Co. (quar.)
Worcester Salt Co., 6% pref/(quar.)
Sept.
SATURDAY, AUG.
THE WEEK ENDED
FOR
10c
______
Nov.
25c
NEW
THE
SIM
SIM
Wilson & Co. (quarterly)
Nov. 16
Sept.
Sept.
Aug.
Aug.
Clearing House is given in full below:
OF
30c
-
(quar.)
2
10
Weekly Return of the New York City
Clearing House
I
The weekly statement issued by the New York City
STATEMENT
10c
Westvaco Chlorine Products (quar.)
30c
.
Jan.
Aug. 15 July 30
Sept. 15 Aug. 31
Oct.
1 Sept.16
Aug. 15 July 20
Aug. 15 July 20
Sept. 1 Aug. 15
Sept.
1 Aug. 15
Aug. 15 Aug.
1
3
Sept.
1 Aug.
Oct.
1 Sept. 12
Aug. 15 Aug.
1
Aug. 15 Aug. 10
7
Aug. 15 Aug.
Sept.
1 Aug.15
10c
West Virginia Pulp & Paper Co. pr^f. (quar.)..
Wheeling Electric Co. 6% pref. (cfuar.)
Whitman (Wm.) & Co., Inc., 7% pref. (quar.).
Wilcox-Rich Corp., B (quar.)
Will & Baumer Candle Co., Inc
Williams (J & B) Co. (quarterly)
SI
SIM
-
87 Mc
SIM
.6% preferred (quar.)
15
30%
preferred (quarterly)
Westmoreland, Inc. (quar.)
West Penn Elec. Co., 7% pref.
Extra.
Aug. 31 July 31
Aug. 31 July 31
....
Preferred (quarterly
Extra
Payable of Record
Nov. 14
Mar.
25c
(quar.)
Quarterly ...............................
Quarterly .............^j._.
... ... _
19
19
15
15
21
30
25c
h$ 4M
Universal Insurance (Newark, N. J.)
...
Sept.
Sept.
Sept.
21
Aug. 15 July 15a
1
Aug. 10 Aug,
Sept. 1 Aug. 15
$5
Preferred divs. Nos. 5. 6,7 and.8
United Wall Paper Factory, prior preferred
Wagner Electric.
Wailuku Sugar Co. (monthly)
Oct.
Oct.
United States Steel, 7% cumul. preferred
United States Sugar Corp.—
Vulcan Detinning,
Oct.
Oct.
S2M
$3M
United States Freight (quarterly)
United States Pipe & Foundry Co. common (qu.)
Common
Oct.
25c
.
Sept.
Oct.
25c
,
United States Envelope (semi-annual)
Preferred (semi-annual)
'
Share
Name of Company
SI M
United Corp., $3 preferred (quar.)
United Dye wood, preferred (quarterly)
United
Payable of Record
Holders
When
Per
Holders
When
Per
Name of
869
Chronicle
total reserves to deposit
liabilities combined
to make industrial
and
84.8%
R. note
t "Other cash"
84.5%
79.9%
9.061,000
F.
Commitments
9,151,000
9,181,000
ad
does not Include Federal Reserve notes or a bank's own
Federals
Reserve hank notes,
given by the United States Treasury for the gold taken
over 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 th«
difference, the difference Itself having been appropriated as profit by the Treasury
under the provisions of the Gold Reserve Ac of 1934.
1
x
These are certificates
Financial
870
Aug.
Chronicle
8,
1936
Weekly Return of the Board of Governors of the Federal Reserve System
issued by the Board of Governors of the Federal Reserve System on Thursday afternoon, Aug. 6,
The following is
showing the condition of the twelve
Reserve banks at the close of business
whole in comparison with the figures for the
for the System as a
seven
The first table presents the results
Wednesday.
on
preceding weeks and with those of the corresponding
The second table shows the resources and liabilities separately for each of the twelve banks.
The Federal
table following) gives details regarding transactions in Federal Reserve notes between the
week last year.
Reserve note statement (third
and the Federal Reserve banks.
Reserve Agents
returns
COMBINED RESOURCES AND
y
y
The comments of the Boavd of Governors of the Federal Reserve System upon the
for the latest week appear in our department of "Current Events and
:
.
Discussions."
LIABILITIES OF THE FEDERAL RESERVE BANKS AT THE CLOSE OF BUSINESS AUG. 5. 1936
Aug.
1936 July 29, 1936 July 22, 1936 July 15, 1936 July 8,
5,
1936 July
1,
1936
June
24, 1936
June
17, 1936 Aug. 7, 1935
'
$
ASSETS
Gold ctfs.
on
S
$
$
■.
■
'
S
$
S
S
hand & due from U.S.Treas.t 8,211,046,000 8,185,529,000 8,185,322,000 8,186,524,000 8,106,569,000 8,106,541,000 7,958,042,000 7,938,539,000 6,288,615,000
12,518,000
21,588,000
12,364,000
13,720,000
11,663,000
12,949,000
12,185,000
12,542,000
12,542,000
287,652,000
Redemption fund (F. R. notes)
288,635,000
Other cash »
Total reserves.-
303,084,000
293,440,000
.
266,238,000
271,008,000
276,269,000
272,844,000
238,926,000
8,513,401,000 8,500,276,000 8,490,947,000 8,486,718,000 8,390,119,000 8,385,728,000 8,243,250,000 8,227,326.000 6,549,129.000
—
Bills discounted:
Secured
by
S. Govt, obligations,
fully guaranteed
U.
1,856,000
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
3,985,000
2,204,000
4,177,000
2,950.000
Other bills discounted—
2,362,000
3,350,000
Total bills discounted
3,960,000
3,668,000
3,391,000
2,899,000
3,296,000
4,221,000
6,189,000
6,539,000
6,300,000
3,092,000
3,088,000
29,573,000
3,085,000
29,500,000
3,077,000
29,785,000
3,077,000
29,936,000
3,076,000
4,685,000
30,058,000
29,096,000
direct and (or)
Bills bought In open
market---
Industrial advances
—-
securities—Bonds-
U. 8. Government
Treasury notes
—
Treasury bills.-
3,092,000
28,888,000
.
+29,584,000
3,084,000
29,457,000
315,697,000
290,297,000
315,678,000
324,721,000
324,721,000
324,721,000
315,673,000
315,673,000
315,672,000
1,496,719,000 1,496,719,000 1,496,719,000 1,494,218,000 1,494,218,000 1,494,218,000 1,494,199,000 1,494,219,000 1*583,1126,000
556.209,000
620,337,000
620,357,00b
608,787,000
608,787,000
620,337,000
608,787,000
620,337,000
620,337,000
Total U. S. Government securities.. 2,430,227,000 2,430,227,000
181,000
181,000
2,430,227,000 2,430,227,000 2,430,228,000 2,430,228,000 2,430,234,000 2,430,253,000 2,430,332,000
181,000
181,000
181,000
181,000
181,000
181,000
Foreign loans on gold————
2,466,348,000 12,466,752000 2,466,460,000 2,465,848,000 2,466,290,000 2,467,492,000 2,469,617,000 2,470,107,000 2,470,413,000
Total bills and securities
Gold held abroad
Due from foreign
"""
""
banks
,
Federal Reserve notes of other banks—
Uncollected items
Bank premises..-*
All other assets
-j-
Total assets-
221,000
22,540,000
547,616,000
48,056,000
44,190,000
~~~
"""~22l1665
225"000
229*000
229" 000
2371666
2371666
"""2381666
24,185,000
553,019,000
28,268,000
591,182,000
48,055,000
44,275,000
25,884,000
681,238,000
48,055,000
43,499,000
18,821,000
598,237,000
48,054,000
42,533,000
20,020,000
678,636,000
48,051,000
42,331,000
15,392,000
551,560,000
48,052,000
38,813,000
24,037,000
696,106,000
48,052,000
38,196,000
48,055,000
145,282,000
6371000
19,771,000
443,728.000
49,908.000
44,577,000
11,642,372,000 11,637,790,000 11,669,412,000 11,751,471,000 11,564,283,000 11,642,495,000 0,366,921,000 11,504,062,000 9.578,163,000
—
LIABILITIES
3,979,814,000 3,951,101,000 3,976,863,000 4,006,015,000 4,040,332,000 4,046,086,000 3,980,018,000 3,872,984,000 3,303,113,000
F. R. notes in actual circulation
Deposits—Member banks' reserve account 6,004,796,000 6,016.170,000 5,935,131,000 5,871,746,000 5,814,251,000 5,589,134,000 5,307,954,000 4,893,667,000 5,114,722,000
112,811,000
U. 8. Treasurer—General account929,072,000 1,421,457,000
466,210.000
519,317,000
439,391,000
592,501,000
731,016,000
506,644,000
22,053,000
60,378,000
61,415,000
56,258,000
Foreign banks.-71,040,000
57,158,000
55,192,000
60,100,000
60,321,000
231,342,000
221,584,000
Other deposits.-—
249,675,000
238,445,000
240,676,000
195,677,000
201,277,000
205,713,000
202,795,000
6,764,902,000 6,780,214,000 6,754,308,000 6,730,060,000 6,584,011,000 6,576,619,000 6,488,961,000 6,597,086,000 5,480,928,000
Total deposits
Deferred availability Items.
550,985,000
559,363,000
Capital paid In
130,205,000
145,501,000
26,513,000
34,105,000
10,347,000
130 170,000
145,501.000
26,513,000
Surplus (Section 7)
Surplus (Section 13-B)
...
Reserve for contingencies
All other liabilities
of
total
669,018,000
129,822,000
145,501,000
26,513,000
34,111,000
10,43i:000
673,759,000
130,947,000
145,501,000
26,513,000
34,117,000
8,953,000
593,077,000
130,988,000
145,501,000
26,513,000
34,117,000
9,744,000
686,625,000
130,813,000
145,501,000
26,513,000
34,111,000
10,429,000
t549,671,000
130,879,000
145,501,000
26,513,000
t34,116,000
11,262,000
438,997,000
146,655,000
144,893,000
22,621,000
30,782,000
10,174,000
11,642,372,000 11,637,790.000 11,669,412,000 11,751,471,000 11,564,283,000 11.642,495,000 11,366,921,000 11,504,062,000 9,578,163,000
Total liabilities
Ratio
34,105,000
10,824,000
591,841,000
129,790,000
145,501,000
26,513,000
34,105,000
10,491,000
reserves
to
deposits
and
'
F. R. note liabilities combined-—-
79.2%
Commitments to make Industrial advances
Maturity Distribution of Bills and
79.2%
79.1%'
79.0%
79.0%
78.9%
78.7%
78.6%
74.6%
23,453,000
23,711,000
23,771,000
23,839,000
23,844,000
23,870,000
24,452,000
24,679,000
23,529,000
5
$
$
Short-term Securities—
1-15 days bills discounted
16-30 days bills discounted
813,000
207,000
622,000
2,028,000
31,000
673,000
278,000
658,000
2,360,000
20,000
622,000
283,000
106,000
3,960,000
3,668,000
1-15 days bills bought in open market--16-30 days bills bought in open market.--
4,000
880,000
31-60 days bills bought In open market---
133,000
2,075,000
2,290,000
f
\
$
'
1,959,000
$
$
S
1,681,000
4,852,000
684,000
591,000
586,000
987,000
638,000
425,000
77,000
340,000
384,000
6,300,000
17,000
61,000
658,000
725,000
137,000
715,000
194,000
3,391,000
2,899,000
3,296,000
4,221,000
6,189,000
6,539,000
352,000
769,000
244,000
1,727,000
1,874,000
4,000
963,000
247,000
1,625,000
352,000
837,000
270,000
234,000
270,000
763,000
92,000
2,095,000
16,000
170,000
270,000
599,000
1,966,000
664,000
2,028,000
3,092,000
3,088,000
3,084,000
3,085,000
1,434,000
279,000
589,000
948,000
25,638,000
1,550,000
575,000
930,000
26,214.000
1,716,000
m.ooo
560,000
882,000
26,243,000
1,502,000
288,000
670,000
840,000
26,157,000
1,429,000
411,000
623,000
757,000
26,280,000
647,000
26,834,000
28,888,000
29,448,000
29,573,000
29,457,000
29,500,000
29,785,000
28,000
31-60 days bills discounted-.61-90 days bills discounted
Over 90 days bills discounted
Total bills discounted
61-90 days bills bought in open market-
--
F
48,000
S
4,411,000
124,000
2,500,000
650,000
52,000
660,000
359,000
3,092,000
—
4,165,000
593,000
171,000
787,000
393,000
1,112,000
2,038,000
172,000
668,000
2,393,000
3,077,000
y
270,000
3,077,000
3,076,000
.4,685,000
1,482,000
261,000
1,631,000
272,000
663,000
1,671,000
228,000
1,239,000
681,000
682,000
599,000
620,000
1,624,000
26,771,000
26,858.000
25,345,000
29,936,000
30,058,000
29,096,000
Over 90 days bills bought in open market.
Total bills bought in open market1-15 days industrial advances
16-30 days industrial advances
31-60 days industrial advances
61-90 days industrial advances
Over 90 days Industrial advances
Total
industrial
advances
....
179,000
'
561,000
.
206,000
1-15 days U. S. Government securities.16-30 days U.S. Government securities-31-60 days U.S. Government securities.
27,979,000
33,514,000
40,614,000
28,459,000
28,827,000
41,541,000
28,580,000
26,341,000
28,225,000
28,580,000
31,870,000
34,975,000
36,241,000
36,956,000
31,956,000
28,459,000
27,979,000
28,827,000
117,972,000
57,286,000
50,963,000
123,716,000
53,559,000
129,459,000
69,886,000
65,536,000 —60,41j5,000
61-90 days U. S. Government securltles.87,452,000
123,242,000
109,344,000
79,282,000
114,972,000
130,275,000
70,804,000
123,716,000
129,459,000
Over 90 days U. S; Government securities 2,164,428,000 2,166,814,000 2,168,244,000 2,172,780,000
2,180,913,000 2,189,045,000 2,193.821,000 2,181,236,000 2,197,541,000
.
•
Total U. S. Government securities
1-15 days other securities
2,430,227,000 2,430,227,000 2,430,227,000 2,430,227,000 2,430,228,000 2,430,228,000 2,430,234,000 2,430,253,000 2,430,332,000
....
16-30 days other securities---—.
31-60 days other securities
61-90 days other securities
Over 90 days other securities
~"l81~,666
-
Total other securities
000
i8i~666
""1811666
181I666
"""1811666
I81I666
181,000
181,000
181,000
181,000
181,000
181,000
181,000
181,000
Federal Reserve Notes—
4,291,673,000
Issued to F. R. Bank by F. R. Agent
Held by Federal Reserve Bank.,
4,284,874,000
305,060,000
340,572,000
4,308.344,000 4,331,177,000 4,345,447,000 4,304,059,000 4,243,935,000 4,132,931,000 3,575,446,000
259.947,000
272,333,000
331,481,000
263,917,000
325,162,000
305,115,000
257,973,000
3,979,814,000
In actual circulation
3,951,101,600
3,976,863,000 4,006,015,000 4,040,332,000 4,046,086,000 3,980,018,000 3,872,984,000 3,303,113,000
Collateral Held by Agent as Security for
Notes Issued to Bank—
Gold ctfe.
on
hand & due from U. S. Treas.
By eligible paper
U. S. Government securities
1
*
Total
♦
*
collateral
4,365,472,000 4,368,401,000 4,379,167,000 4,388,670,000 4,391,066,000 4,341.267,000 4,307.403,000 4,173,632,000 3,626,565,000
"Other cash" does not Include
These
are
4,289,838,000 4,313,023,000 4,319,023.000 4,348.023,000 4,342,023,000 4,271,523,000 4,260,523,000 4,125,523,000 3,399,339,000
5,109,000
2,634,000
4,880,000
2,144,000
4,826,000
2,378,000
1,647,000
2,043,000
2,744,000
43,000,000
222,400,000
73,000,000
42,000,000
58,000
53,000,000
39,000,000
67,000,000
47,000,000
Federal Reserve notes,
t Revised figure.
certificates given by the U. S. Treasury for the gold taken over from the Reserve banks when the dollar
Jan. 31,1934, these certificates being worth less to the extent of the difference, tne difference Itself having been appropriated
of
the
Gold
Reserve Act
0
of
1934.
I
'
'
'
*
^
was
as
devalued from 100 cents to 59.06 cents
on
profits by the Treasury under the pro visions
Volume
143
Financial
Chronicle
871
Weekly Return of the Board of Governors of the Federal Reserve System (Concluded)
WEEKLY
STATEMENT
Two Ciphers
CLOSE OF
BANKS AT
BUSINESS AUG, 5 1936
(00) Omitted
Total
of—
Boston
New York
%
$
9
RESOURCES
Gold certificates
on
Cleveland Richmond
Phila.
%
Federal Reserve Bank
■'
$
i
<
Atlanta
Chicago
$
9
5
Dallas
%
$
9
9
San Fran.
9
Louis Minneap. Kan. City
St.
hand and due
8,21^,046,0
from U. S. Treasury.—_—
Redemption fund—F. R. notesOther cash
Total
OF THE 12 FEDERAL RESERVE
RESOURCES AND LIABILITIES OF EACH
OF
...
reserves—**;,—.,..
—
508,274,0 3,269,085,0 406,682,0 573,264,0 266,187,0 212,761,0 1,609,904,0 215,018,0 182,289,0 246,302,0 157,718,0 563,562,0
483,0
676,0
1,953,0
916,0
375,0
2,990,0
932,0
574,0
204,0
1,753,0
853,0
2,011,0
13,720,0
6,739,0 14,111,0
7,667,0 12,333,0
37,063,0 12,825,0
73,173,0 38,399,0 27,385,0 15,656,0 10,686,0
288,635,0
32,598,0
8,513,401,0 542,883,0 3,344,011,0 445,997,0 601,132,0 282,519,0 226,437,0 1,647,541,0 228,696,0 190,160,0 259,567,0 164,832,0 579,626,0
Bills discounted:
Sec. by U. S. Govt, obligations,
direct & (or) fully guaranteed
"
56,0
3,040,0
1,100,0
1
317,0
5,087,0
28,888,0
25,0
56,0
26,0
121,0
108,0
23,0
18,0
~'26~0
65,0
88,0
393,0
87,0
87,0
43,0
3,613,0
716,0
1,816,0
534,0
17,104,0
13,142,0
17,361,0
11,571,0
78,839,0
32,067,0
60,575,0
24,639,0
38,630,0
178,054,0
72,423,0
80,018,0
32,548,0
53,334,0
660,561,0 211,180,0 235,795,0 128,010,0
99,596,0
40,510,0
1.504,0
28,217,0 31,507,0
406,823,0 130,061,0 145,220,0
165,475,0 52,902,0 59,068,0
21,607,0
98,356,0
289,107,0 129,927,0
7,104,0
87,0
386,0
73,0
79,0
314,0
61,0
1,199,0
226,0
3,101,0
1,496,719,0
608,787,0
25,0
"
294,0
160,0
3,092,0
324,721,0
12,0
44,0
3,960,0
Total bills discounted
Bills bought In open market.....
Industrial advances.—
25,0
160,0
1,403,0
1,637,0
56,0
1,856,0
2,104,0
Other bills discounted——
73,0
218,0,
1,729,0
898,0
1,587,0
16,425,0
75,708,0
30,794,0
12,502,0
57,628,0 130,863,0
23,440,0 53,228,0
86,598,0 122,927,0
93,570,0 212,483,0
U. S. Government securities:
Bonds—
....
Treasury notes
Treasury bills—
.....
88,263,0
Total XT. 8. Govt, securities. 2,430,227,0 161,713,0
Other securities
21,693,0
181,0
181,0
Total bills and securities.
,.
22,540,0
Bank premises
All other resources
547,616,0
48,056,0
44,190,0
;——
Total resources...—..
....
20,0
99,200,0
85,0
5,638,0
21,0
779,0
1,474,0
127,631,0
42,209,0
60,281,0
10,854,0
33,009,0
17,0
326,0
55,300,0
3,113,0
294,0
221,0
Uncollected Items
671,805,0 216,744,0 237,618,0 131,800,0
2,466,348,0 165,096,0
Due from foreign banks
Fed. Res. notes of other banks
28,392,0
5,080,0
6,525,0
10,0
1,534,0
46,892,0
2,919,0
3,407,0
1,717,0
1,107,0
95,637,0 214,503,0
87,858,0 124,181,0
291,309,0 130,591,0
.
26,0
2,192,0
4,0
2,189,0
3,0
1,428,0
6,0
15,0
1,484,0
573,0
72,277,0
4,831,0
733,0
8,0
1,399,0
18,490,0
2,284,0
1,433,0
21,660,0
2,453,0
258,0
16,638,0
33,661,0
3,524,0
30,614,0
1,531,0
371,0
3,360,0
440,0
21,963,0
1,526,0
6,0
3,580,0
'
530,0
891,0
832,392,0
11,642,372,0 767,029,0 4,193,033,0 714,237,0 908,767,0 466,781,0 349,257,0 2,018,909,0 385,851,0 297,989,0 422,699,0 285,428,0
LIABILITIES
85,052,0 318,214,0
914,256,0 171,101,0 123,874,0 153,704,0
817,367,0 293,568,0 387,602,0 183,570,0 174,567,0
F. R. notes In actual circulation. 3,979,814,0 356,939,0
Deposits:
Member bank reserve account. 6,004,796,0 302,954,0
U. S. Treasurer—Gen'l acc't
71,040,0
Total deposits.............
132,751,0
25,960,0
191,994,0
5,253,0
249,675,0
2,984,0
Foreign bank
Other deposits
918,490,0 140,754,0 121,722,0 195,478,0 133,889,0 397,188,0
2,776,763,0 315,280,0 382,426,0 195,885,0 117,967,0
20,721,0
439,391,0
35,056,0
19,898,0
6,531,0
3,124,0
2,485,0
5,442,0
22,713,0
6,602,0
2,066,0
20,866,0
3,282,0
2,320,0
59,817,0
8,235,0
1,976,0
550,985,0
54,507,0
130,205,0
9,401,0
Reserve for contingencies
All other liabilities
....
34,105,0
124,535,0
50,231,0
9,902,0
10,347,0
50,825,0
2,874,0
1,413,0
81,0
145,501,0
26,513,0
7,744,0
8,849,0
6,014,0
-
20,323,0
16,300,0
3,756,0
4,655,0
2,973,0
3,149,0
546,0
1,003,0
894,0
277,0
1,449,0
645,0
21,350,0
754,0
1,391,0
1,281,0
211,0
2,518,0
168,0
7,573,0
1,160,0
269,0
h
29,898,0
3,783,0
1,252,0
1,328,0
807,0
3,939,0
3,613,0
1,142,0
5,616,0
3,111,0
24,186,0
3,816,0
37,489,0
12,124,0
17,734,0
4,256,0
3,448,0
12,564,0
14,371,0
1,007,0
13,406,0
4,231,0
3,000,0
229,0
72,537,0
40,175,0
4,721,0
5,186,0
60,388,0
40,913,0
12,229,0
4,899,0
25,468,0
988,518,0 178,299,0 148,596,0 221,832,0 165,204,0 461,124,0
6,764,902,0 331,912,0 3,127,468,0 346,661,0 429,455,0 222,189,0 143,644,0
Deferred availability items
Capital paid in
Surplus (Section 7)
Surplus (Section 13-B).
3,934,0
33,569,0
27,249,0
2,059,0
2,007,0
24,032,0
2,058,0
(
264,0
21,236,0
1,704,0
21,483,0
2,130,0
7,932,0
9,645,0
1,121,0
840,0
140,0
10,195,0
1,849,0
346,0
Total liabilities.............. 11,642,372,0 767,029,0 4,193,033,0 714,237,0 908,767,0 466,781,0 349,257,0 2,018,909,0 385,851,0 297,989,0 422,699,0 285,428,0 832,392,0
Commitments to make industrial
advances*...^.......—.
*
"Other cash"
does
Federal Reserve notes.
FEDERAL RESERVE NOTE STATEMENT
.
*
•'
Two Ciphers
(00) Omitted
Total
Federal Reserve Agent at—
Agt
In actual circulation
held
by
Agent
$
St.
Chicago
-$
$
$
$
$
3
Atlanta
Cleveland Richmond
Phila.
s
S
$
S
1
San Fran
Dallas
Louis Minneap. Kan. City
%
■
952,812,0 180,057,0 128,192,0 164,932,0
11,228,0
4,318,0
8,956,0
38,556,0
95,435,0 359,282,0
10,383,0 41,068,0
817,367,0 293,568,0 387,602,0 183,570,0 174,567,0
914,256,0
171,101,0 123,874,0 153,704,0
85,052,0 318,214,0
4,289,838,0 396,000,0
2,634,0
56,0
73,000,0
935,706,0 314,000,0 407,000,0 197,000,0 161,000,0
26,0
56,0
25,0
1,770,0
160,0
960,000,0 155,632,0 130,000,0 163,000,0
95,500,0 369,000,0
3^)6,056,0
937,476,0 314,160,0 407,025,0 197,056,0 206,026,0
4,284,874,0 376,419,0
19,480,0
305,060,0
918,486,0 313,505,0 404,843,0 195,985,0 194,926,0
3,979,814,0 356,939,0
Issued to F.R. Bk. by F.R.
Held by Fed'l Reserve Bank..
Collateral
New York
Boston
$
Federal Reserve notes:
.4,422,0
536,0
397,0
90,0
1,770,0
77,0
284,0
2,322,0
1,434,0
315,0
9,061,0
2,745,0
23,453,0
not Include
101,119,0
20,359,0
12,415,0
17,241,0
19,937,0
se¬
as
curity for notes issued to bks.
Gold certificates
on
hand and
due from U. S. Treasury
Eligible paper
43,0
U. 8. Government securities-
Total collateral
4,365,472,0
45,000,0
73,0
343,0
82,0
25,000,0
'
3,000,0
95,843,0 369,073,0
966,000,0 180,675,0 130,000,0 166,082,0
Weekly Return for the Member Banks of the Federal Reserve System
Following is the weekly statement issued J^y 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. 6, 1935, covers reporting banks In 101 leading cities, as It did prior to the banking holiday In 1933, Instead of 91 cities, and has
partly in "Loans on securities—to others" and partly
standing to the credit of Individuals, partnerships, corporations,
hand or in process of collection.
The method of computing the Item "Net
demand deposits," furthermore, has been changed In two respects in accordance with provIsldSs 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
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 "Dhe to banks" shown heretofore Included only demand balances of domestic banks.
The Item "Borrowings"
represents funds received, on bills payable and rediscounts, from the Federal Reserve banks and from other sources.
Figures are shown also for "Capital account," "Other
assets—net," and "Other liabilities."
By "Other assets—net" Is meant the aggregate of all assets not otherwise specified, less cash Items reported as on hand or In process
The amount of "Loans to banks" was included heretofore
also been revised further so as to show additional Items,
In "Other loans."
The Item "Demand deposits—adjusted" represents the total amount of demand deposits
associations, States, counties, municipalities, &c., minus the amount of cash items reported as on
of collection which have been
deducted from demand deposits.
ASSETS AND LIABILITIES OF WEEKLY REPORTING MEMBER BANKS IN 101
LEADING CITIES, BY DISTRICTS, ON JULY 29 1936 (In Millions of Dollars
Atlanta
St.
Chicago
S
Cleveland Richmond
S
Dallas
Louis Minneap. Kan. City
San Fran.
Federal Reserve District—
Total
Boston
New York
Phila.
ASSETS
S
$
$
S
$
•1,231
9,565
1,187
1,840
634
552
3,048
9
1
13
3
6
49
7
2
3
2
214
66
53
201
67
30
47
41
7
6
5
37
8
8
27
2
20
68
43
6
17
22
366
9
7
Investments—total
Loans and
;»■
22,378
$
.
$
$
9
•
,
376
644
...
$
S
.
472
692
2,137
.
'
Loans to
<
okers and dealers:
.
' •
'
,
In New York City
907
11
871
9
Outside New York City
220
26
74
23
2,046
152
865
147
319
44
133
22
Loans on securities to others
banks)
12
(except
—
Acceptances and com'l paper
Loans on real estate
4
2
bought.
—
163
1,144
82
247
63
183
24
23
58
3
27
2
4
1
1
3,600
305
1,356
183
207
98
132
472
115
100
140
135
357
9,456
427
4,123
320
882
314
212
1,625
227
168
269
191
698
1
Loans to banks
Other loans
U. S. Govt, direct obligations
—
—
•,
mi m -
3
-
1
m
Obligations fully guar, by U. S. Govt.
1,272
18
533
103
68
48
39
152
58
15
48
31
159
Other securities
3,356
163
1,336
315
262
74
81
426
111
47
136
48
357
4,859
233
2,446
219
292
126
64
814
113
84
264
Reserve with Federal Reserve
Bank..
72
132
385
124
68
15
33
19
11
58
11
5
12
10
19
Balance with domestic banks
2,443
116
197
156
247
151
147
439
129
104
298
189
270
Other assets—net
LIABILITIES
1,329
78
540
89
113
37
39
109
24
17
24
27
232
14,850
977
6,793
762
1,024
394
308
2,268
392
266
473
360
833
5,015
288
965
276
719
197
177
803
178
121
146
120
1,025
823
12
231
71
77
43
52
147
11
3
23
37
5,938
234
2,498
311
357
215
185
870
248
124
426
422
11
385
3
1
1
7
1
2
88
Cash in vault.)
Demand deposits—adjusted
Time deposits
United States Government deposits—
;
t'
Inter-bank deposits:
Domestic banks
For*Mgn hanks
184
t.
•
__
__
116
■
.
'
.
.
286
.
■
13
orro wings
861
spltal account-...-
—
25
387
22
14
29
6
31
9
4
3,485
235
1,557
221
333
89
84
342
83
55
'
328
77
.
"
321
Aug. 8, 1936
872
Stock and Bond Sales—New York Stock Exchange
DAILY, WEEKLY AND YEARLY
Occupying Altogether Sixteen Pages—Page One
NOTICE—Cash and deferred delivery sales are disregarded In the day's range, unless they are the only transactions of the day.
computing the range for the year.
■..
of such sales In
United States Government Securities
the New
on
Transactions at the New York Stock Exchange,
York Stock Exchange
Below
furnish
Daily, Weekly and Yearly
daily record of the transactions in
Home Owners' Loan, Federal Farm Mortgage Corporation's
bonds and Treasury certificates on the New York Stock
Exchange.
Quotations after decimal point represent one or more 32ds
of a point.
we
a
Aug. 1
Aug. 3
Aug. 4
Aug. 5
Aug. 6
Number of
118.8
118.8
----
118.8
118.6
mmmm
118.8
118.8
(High
| Low.
(Close
Total sales in $1,000 units...
(High
Low.
17
1
108.13
108.2
108.3
108.6
108.3
108.9
4
7
18
2
89
113.16
113.18
113.19
113.22
113.14
113.19
113.21
113.14
113.16
113.18
113.19
113.21
1
mi mm
111.17
111.18
25
55
m
pm'tm
m
mmmm
.mrnrnm
rnmmm
K,
....
rnmmm
......
Total sales in $1,000 units...
....
....
.
$4,239,000
5,531,000
45,559,000
$3,455,000
5,850,000
47,561,000
$188,754,000
Railroad and industrial
1,734,760,000
$445,213,000
23. ,265,000
1,257,366,000
$55,329,000
$56,866,000
$2,126,267,000
$1,932,844,000
Bonds
Government
—
Total
4
104.20
—
104.23
104! 18
104.15
104.16
104.17
104.16
104.18
104.18
11
21
91
8
105.15
105.17
105.21
105.17
105.20
3Mb, 1941-43
105.17
105.21
108.8
4 Low.
I
20
mm
19
mmmm
228
■
rnmmm
mmm-m
■
m
m mm
mm
1
m
rnmmm
mmmm
mmmm
rnmmm
■
m
rnmmm
mmmm
'^mmm
....
mm
mm
108 28
mm
108.28
'
....
rnmmm
mmmm
mmjmm
irn
Second
10
Grade
Grade
Utili¬
40
trials
roads
ties
Stocks
trials
Rails
Rails
ties
Bonds
2
108.28
Aug.
7.
168.01
55.27
35.24
62.10
106.91
111.46
90.59
106.26
103.81
108.28
Aug.
6.
165.71
54.18
34.98
61.22
106.88
111.08
90.24
106.13
103.58
2
....
Aug.
5.
165.07
53.49
35.02
60.90
106.78
110.99
89.90
106.10
103.44
53.51
34.98
60.96
106.96
111.21
90.00
106.29
■....
106.4
106.3
106.4
106.7
106.12
Aug.
3.
165.32
53.25
34.99
60.87
106.93
111.13
89.90
106.14
103.53
....
106.4
106.3
106.4
106.11
106.12
Aug.
1
165.42
53.55
34.86
60.94
107.05
111.26
90.13
106.11
103.68
1
■....
1
mmmm
•rnmmm
....
Total sales in $1,000 units...
107.25
106
106.6
106.3
'
...
106.6
106.8
200
200
5
108.27
108.30
108.27
m'rnmm
108.25
108.27
108.28
108.27
108.27
108.27
108.29
150
7
m
V
"
mmm
107.27
107.24
107.28
108
Rates
quoted
107.23
107.23
107.25
107.27
107.24
107.28
107.31
Bid
108.2
Aug, 12 1936
16 1936
Dec. 23 1936
19
31
84
18
Aug. 19 1936
102.17
102.16
102.16
102.18
102.19
Aug. 26 1936
102.14
102.13
102.15
102.15
102.17
Sept.
2 1936.-
(Close
102.17
102.15
102.15
102.16
102.17
102.19
Sept.
9 1936
11
84
42
20
26
32
103.27
103.26
103.27
....
(High
Low.
....
Close
....
$1,000 units...
•
,
5
•
103.31
103.24
103.24
103.30
103.31
103.26
103.27
103.31
104.1
2
....
5
(H1&h
(Low.
102.6
102.7
102.4
102.6
102 4
102.4
(Close
102.6
102.4
102.4
27
102.7
102.7
102.9
102.7
102.10
5
(High
101.11
101.12
101.12
..J Low.
101.11
101.10
101.11
101.11
101.11
101.12
11
196
122
131
Low.
m*
101.15
101.17
101.11
101.14
101.16
101.15
101.15
101.17
57
55
mmmm
rnmmm
mmmm
mmmm
14 1936
Oct.
21 1936....
28 1936
Nov.
4 1936
Nov. 18 1936
Nov. 25 1936
Dec.
2 1936
, ,
Dec.
104.11
9 1936..
Jan.
6 1937
Jan.
13 1937
Jan. 20
1937
Jan, 27
1937
Feb.
25%
25%
25%
3 1937
Feb. 10 1937
25%
25%
Feb. 17 1937
Feb. 24
1937
3
1937
Mar.
25%
30%
30%
30%
Mar, 10 1937
Mar. 17 1937
Mar. 24 1937
Mar. 31
Apr.
30%
30%
30%
30%
30%
1937
7 1937
14 1937
Apr.
Apr.
21
Apr.
28 1937.
30%
May
5 1937.
30%
1937
2
103.8"
103.6*
10 3! 17
10~3~.il
103.10
| Low.
103.8
103.8
103.6
103.6
103.9
103.9
(Close
( Low.
(Close
_
,
Total sales in $1,000 units.
.
103.8
103.8
103.6
103.7
103.11
Quotations for United States Treasury Certificates of
103.9
11
1
3
16
29
34
103.28
103.26
103.26
103.28
103.30
103.30
103.28
103.26
103.26
103.28
103.30
103.30
103.28
103.26
103.26
103.28
103.30
103.30
15
2
1
5
100
4
.
(High
102.16
mm
_jI Low.
102.16
rnmmm
rnmmm
Indebtedness, &c.—Friday, August 7
Figures after decimal point represent
a
102.21
Home Owners' Loan
Im.
(High
102.31
102.31
103.1
103.2
Asked
Maturity
102.30
102.29
102.31
103
103.2
lc,ose
102.31
102.31
102.29
103.1
103.2
103.2
53
6
81
55
15 1939...
1
H%
101.13
June
103.4
102.28
Home Owners' Loan
more
15 1941...
1M%
1H%
100.20
100.22
Sept. 15 1938...
Feb.
1 1938...
101 21
101.23
Dec.
15 1936...
101.6
101.8
June
15 1938
101.13
101.15
Feb.
15 1937...
100.27
100.29
Apr.
15 1937...
101.7
101.9
Mar. 15 1938...
101.28
101.30
Sept. 15 1937...
103.11
Mar. 15 1941...
46
Bid
Asked
2M%
2M%
2M%
2M%
104.3
104 5
103.18
103.20
104.19
104.21
3%
3%
3%
3M%
101.27
101.29
Rate
103.13
Mar. 15 1939...
June
15 1940...
Sept. 15 1936...
(High
2Mb,series B, 1939-49..(Low.
101.20
101.20
101.19
101.22
101.22
101.23
101.18
101.19
101.18
101.19
101.19
101.20
(Close
101.20
101.20
14
27
29
146
49
42
(High
101.21
101.21
101.18
101.21
101.22
(Low.
101.20
101.21
101.18
101.18
101.21
101.21
(Close
101.21
101.21
101.18
101.21
101.22
101.23
59
2
1
42
25
5
*
includes
only
sales
coupon
a
1M%
1M%
1M%
1M%
m%
2M%
101.15
101.23
102.9
101.23
.
Total sales in $1,000 units...
Home Owners* Loan
2Mb, 1942-44
^
Total sales in $1,000 units...
Note—The
bonds.
Treasury
Treasury
1 Treasury
1 Treasury
101.19
101.21
101.21
Dec.
15 1940...
Mar. 15 1940.
101.23
June
_.
15 1939...
FOOTNOTES FOR NEW YORK STOCK
Bid and asked prices; no sales on this day.
t Companies reported In receivership.
above
table
Transactions in registered bonds
3%s, 1940-1943
2Mb, 1955-1960
3Ms, 1943-1945.
2Mb, 1945-1947
32ds of
Int.
Bid
Dec.
(Low.
107
Rate
Maturity
4
102.31
,
or
102.21
mm
2
Total sales in $1,000 units...
one
point.I
102.18
102.16
Close
Total sales in $1,000 units
m
Asked
•20%
25%
25%
104.11
....
79
103.8
,
3a, series A, 1944-52
Oct.
Dec
104.11
(High
Total sales in $1,000
units...
Federal Farm
Mortgage (High
»
101.15
mmmm
104.9
.
Federal Farm Mortgage
2Mb, 1942-47.
33
54
rnmmm
m
7 1936
Nov. 10 1936.
13
rnmmm
104.9
1 Close
Total sales in $1,000 units..
m
102.10
102.5
27
Sept. 30 1936
oct.
7
6
102.9
Sept. 16 1936.
8ept 23 1936
Oct.
102.5
101
104 10
104.2
103.23
103.23
Total sales in $1,000 units...
3a, 1942-47.
Bid
Dec. 30 1936
0.20%
24
102.14
Federal Farm Mortgage
3a, 1944-49
Asked
0.15%
0.15%
0.15%
0.15%
0.15%
0.15%
0 15%
0.15%
0.15%
0.15%
0.15%
0.15%
0.20%
0.20%
0.20%
0.20%
0.20%
0.20%
0.20%
102.17
3Mb, 1944-64.....
for discount at purchase.
108
107.24
Total sales in $1,000 units...
1
are
108.2
107.22
107.25
(High
(Low.
I Close
Total sales in $1,000 units...
Federal Farm Mortgage
(High
Treasury Bills—Friday, August 7
108.27
5
United States
50
108.27
\m 'm
Total sales in $1,000 units...
2Mb, 1951-54
103.62
106.8
9
'
/
_
106.8
106.6
3
108.27
53
106.3
m
rnmmm'
....
108.27
rnmmm
106.2
106
■
■
4
106
106
■
....
....
108.27
m
a.
165.41
(Close
2Mb, 1948-51
■
4.
(High
] Low.
(Close
2Mb. 1955-60.....
Total
Aug.
Total sales in $1,000 units...
(High
First
Indus¬
106.15
(High
( Low.
I
10
70
loo! ii
_.( Low.
3 Mb. 1944-46
Total
106A-
Total sales in $1,000 units...
f
20
Utili¬
106.3
Close
3Ks. 1941
20
Rail¬
106l4~
(High
3Ma. 1949-52
10
30
Indus¬
Date
108.9
108.9
J
Low.
Bonds
10
108.28
mmmm
108.28
3Ms. 1946-49
Stocks
153
108.9
'rnmmm
■
rnmmm
Close
,
of representative
compiled by Dow, Jones & Co.:
105,24
83
'"mm
Total sales in $1,000 units...
„
averages
the New York Stock Exchange
105.24
105.15
on
105.24
105.15
as
33
105.14
105.11
108.8
(Close
*
(High
m
daily closing
stocks and bonds listed
"
Total sales in $1,000 units...
4
the
are
104.23
108.8
( Low.
3Mb, 1940-43
■t otal sates in
202,753,000
Stock and Bond Averages
Below
104.20
104.15
...
(High
■
157,682,862
'
Low.
•
Total sales in $1,000 units...
I
302,219,689
108.18
104.17
....
'
1935
9,480,870
108.21
3
•
105.13
(High
3s, 1946-48
Jan. I to Aug. 7
1936
1935
108.21
108.19
108.19
'
104.15
QJq00
1936
111.26
104.17
(High
(I Low.
13,112,000
38
7
3s. 1951-55
Week Ended Aug. 7
1
3
108". 19
mmrnm
mmmm
108.12
108.16
Total sales in $1,000 units...
$55,329,000
111.22
m
108.16
QJqq0
I
$4,239,000
6,671,990
111.26
111.18
mm'mm
28
(High
7
111.20
111.17
m-mmm
■
111.15
.J Low.
38
111.17
■y.m'mmm
111.15
v
$5,531,000
$4,600,000
7,728,000
8,608,000
9,954,000
572,000
State and foreign
113.21
111.15
3 Ms. 1943-47
$45,559,000
Stocks—No. of shares.
113.21
Total sales in $1,000 units...
11,327,800
Exchange
113.21
113.16
(High
988,000
806,000
6,671,990
51
113.14
( Low.
(Close
862,000
1,229,000
$435,000
529,000
908,000
914,000
New York Stock
108.13
113.14
$1,000 units...
909,000
9,477,000
11.077,000
1,283,660
1,171,950
$570,000
108.9
108.2
(High
3Mb, 1946-56
1,048,000
1,671,570
Sales at
56
108.10
rnmmm
| Low.
(Close
$3,595,000
6,291,000
7,122,000
7,997,000
1,004,830
1,049,330
......
Thursday......
Friday
118.17
108
108.2
Total sales in $1,000 units—
4s, 1944-54
Bond
Sales
118.16
118.11
108.1
108
Total
States
Bonds
For'n Bonds
118.17
'118.11
108.3*
108
1
mm mm
rnmmm
108.2
108
l Close
3Ms, 1943-45
4
mmmm-
118.11
;
..,
Bonds
490,650
Saturday
Monday
Tuesday.
Aug. 7
United
State,
Mis cell. Municipal A
and
Shares
7 1936
Total
Treasury
4Mb, 1047-52.
Railroad
Stocks,
Week Ended
Aug.
Wednesday
Daily Record of U. S.Bond Prices
Total sales in
No account Is taken
..
were:
of
'
108.6
1
n
r
to 108.6
102.11 to 102.15
108.7
to 108.7
'
103.28 to 103.28
Deferred delivery
New stock,
Cash sale.
x
Ex-dividend.
V
Ex-rights.
101.25
102.11
104.12
104.14
103.21
103.23
PAGES
Proctor
Abbott,
consolidation of
Members
Exchange
ABBOTT, PROCTOR & PAINE
in Stocks, Bonds, Commodities
LIVINGSTON & COMPANY
for institutions and individuals
NEW YORK
CHICAGO
.
MONTREAL
••
CLEVELAND
••
New York Stock
Volume 143
Sales
1
Aug
Aug. 3
$ per s,hare
*53
54%
*111
Aug. 4
$ per share
Aug. 6
Aug. 7
$ per share
55
*53
55
*53
66*2
68
65*2
65%
67
65*2
30
12%
12%
1278
13
12%
13
1234
1234
12%
13%
20*2
2034
20*2
20*2
20%
20
25%
2534
25
25*4
20%
25*4
20
26
25%
26%
2%
2%
20%
24%
2%
20%
26
2%
2%
2%
2%
7734
78*4
4*4
4%
*65*8
*65*4
66%
Abraham & Straus
No par
Preferred......
100
..25
No par
100
Preferred
*20
20*2
26%
26%
*2%
'
2%
2%
78*2
79*4
4*4
4*4
76%
4%
2%
2%
800 Adams Millls
No par
1,300 Address Multlgr Corp
1,900 Advance Rumely
...No
10
par
Affiliated Products Inc.lVo par
*95
*95
13%
13*2
*3
334
77
78
■dmm
13%
4*4
*95
-
'
13%
13%
■■N4-3
*3
77%
4%
4%
d-d
mm
■
*95
m.
1338
13%
*3
3%
4%
39
*38
39
*36
36*2
*40
42%
*101
106
220
220
2434
80
80
13
52
52%
25
*24%
3
3
*50
54*2
98
98*2
50*2
38%
50*2
39%
70*2
*68*2
35
*39%
106
220
220
*101
3%
36%
*35
32
106
*101
32
32
24%
1234
178
18234 *175% 178
4
4
3%
4*8
36*4
3534
36%
37%
*34
37
*34% 36%
*34
37
3412 34%
40% 40% *39% 41%
32
31%
3234
32%
84%
85
49%
50%
33
32%
4
36%
36%
35
219
106
*101
227
225*2 232*2
219%
24
24%
12%
8034
52%
13
53%
53*4
54*4
53*2
25
25
24%
2%
25*8
25%
3
2%
54
54
*50%
2%
3
50*2
38*2
39%
70
16534
4134
.85
85*2
51
*50%
.
24
13
*79
40
*68%
51
57%
26
70
«.
-
-
127
*125
127
*125
127
102
102
*99
102
100
101
99
*28
29
*28
29
*28
29
*28
126
126
100%
29
29
1034
1034
26*2
11*4
11
27*4
26
26%
29
29*8
29
29
9834
97*8
97%
4%
97%
438
*97*8
4%
4%
4*2
438
*1334
7%
37*4
14%
7*4
*13%
7*4
14*8
13%
7*4
13%
37*4
*37
38
36%
37
37
37
16
16
*15%
16
*13%
14*8
7*4
7%
*15%
16
15%
15%
*31
3234
32
32
*30*4
20*2
*19%
47
39
39%
*1934
6*4
37*2
4634
4634
*4634
3
3
3
21
21
*18
11%
11%
1134
27%
84*4
28*2
84*4
27%
22%
11%
22*2
22%
11%
31%
11%
30%
20*2
20*2
6%
6%
31
84
6%
6
37%
*37
31%
2038
7%
30*2
30*2
19%
20
29
11%
31%
7*8
7%
35%
15*2
600
2d preferred
30
30*4
30
700
56 preferred
19%
6*4
20%
*29*2
19*2
6%
3634
46*2
3634
46%
37
1,100
46*2
1,400 Amer Home Products
3
3
46%
2%
47
3
3
,3
21%
19
19
11%
11%
11%
11%
28%
27*2
85*2
27%
2234
22%
2234
*11*4
11%
11%
*29%
30*4
11*4
30*4
86
31*4
2%
18*2
88*2
22%
11*4
27%
87%
148
107*2
6034
6134
61
62
61
61%
*143
*142
*27*2
*53%
143
36
28
61
61*4
*143
' 143
35
36%
129*2 *125*2 126*2
36%
36*4
.ia
^/o4
53%
*140
.
'
25
25%
*106% 107
8%
8*4
6
6
4
4
4
8%
61%
*%
*5*2
%
634
*5%
4*8
4
8%
62
%
6%
4
4
22%
11%
18
99*2
*42%
.37%
*99% 101%
12*4
12*4
434
73*2
73*2
73*2
108
120
*107% 108
4%
*100
2434
173%
102%
148
12*8
143%
12
4
4
4%
*1134
*42%
44
13
44
119%
120
120
*107% 108
478
434
108
108
73*4
72
*119
73*4
74
108
38%
*100
108
39
'
478
73
♦IOO4 108.
4
4*8
53*2
*50*2
4*8
53%
*26
27%
108*2 108*2
4%
434
73*2
*7234
*100
108
Amer Safety Razor
.
.—100
25
Preferred
par
600
24,100
600
9,000
300
5034
51
12*2
12%
50%
Fo r footnotes see page
51%
51
5134
49*2
5034
12%
51%
12%
12%
12%
13
•12%
12%
10,800
872
i4978
12%
1
934 Jan
2
9
89
Apr 8
3*2 Apr 30
6*2 Apr 30
2934 Jan 2
12
Apr 30
25
Apr 30
13
Jan 20
5*8 July 7
325s July 11
37
Jan
2
278June 11
17*4 Apr 23
958 Apr 30
23*« Apr 28
66
Apr 28
21 May 9
400
1,800
108
Preferred
51
12%
4,000
Armstrong Cork Co ...No par
2,500 Arnold Constable Cor p
5
Mar
110
Jan
149%
15134
Jan
168
7
5
5834 Apr 16
10
Mar
42*4 Aug
86*8 Aug
34
Jan
1384 Feb 13
325s Mar 6
30*2 July 31
25% Mar
8
Jan
37% July 10
12
21*2 July 20
8% Mar 6
46
Jan 27
4778 July 24
5% Jan 14
24
Jan 14
,13%
36*4
95*2
297g
April
Feb 28
Feb 27
Jan 14
Feb 13
27
Apr 30
Apr 2
134
x35% Jan
3
7*2 Feb 20
43
Feb 20
365s Feb 20
18«4 Apr 30
Jan
7
2334 July
7
157
893s Jan 21
Apr 30
2
104
20*2 Apr 30
107«4 Jan 4
26 May 29
48*4 Apr 30
129
Jan
6
205s Mar 21
149*2 Apr 30
Mar 13
3578 Mar 20
July 16
54l2 Aug 7
14% July 28
78*g July 10
6934 July 10
273s Jan 4
16512 Aug
34
4
Feb 19
116*2 Mar 5
27% July 28
33*4 Apr 8
91*2 Mar 20
16234 Mar 11
108*2May 28
73i2 Jan 22
143i2May 28
39
Aug 7
127*2 Aug 6
36
Jan 29
60% Mar
3
14178 Jan 29
26% Jan 28
178
Feb 14
102% Feb
6
88*2 Mar 13
104
6
2
150
878June 30
13
87
Jan
136
Feb
Mar 17
Aug
Feb
Nov
42% Deo
Oct
May
3378
Deo
65
Deo
33%
Deo
May 13
35
Jan 10
27
July 28
784 Apr 28
5484 Apr 30
%May 19
4*8 Apr 30
3*2July
44
24
Jan
9
June
2
2
Oct
40
Nov
/29% Apr
17g Oct
14% Oct
4% Mar
38*8 Nov
478 Jan
9
Mar
32
Mar
2734 Nov
75% Deo
33% Nov
18*2 Mar
4% Apr
13% Mar
72
Jan
*24
Jan
1% Mar
10*8 Mar
8% Mar
10*2 Mar
134*2 Mar
1534 Mar
3734 Feb
11% Nov
12%
32*4
Deo
Deo
130l2
36%
9%
49%
Nov
Nov
Nov
Aug
41% Aug
25*8 Deo
159
Sept
32% Nov
Mar
9534 July
4% Mar
21% Deo
26*4 Jan
64% Deo
66
20
Mar
31% Apr
121
Feb
144
101%
Dec
117% Aug
May
Jan
76
June
125
Feb
143
July
12
Mar
88
Feb
113
32% Dec
50*8 Dec
43
Jan
70*2
Feb
63
124
Dec
18% Jan
9878 Mar
72% Apr
74«4 Mar
25% Nov
Deo
140*2 May
27% Nov
160*2 Nov
104% Nov
107
Nov
141
NOV
129*8
Jan
9
Mar
38*2
Deo
7% Mar
2284
Deo
48
3
Mar
2%
II84
31
Mar
49
Deo
Dec
Deo
Aug
8
Mar
30
Dec
16*8 Apr
37
Deo
1078 Sept
17%
Jan
Apr
57g
2
Feb 17
Jan
96*2 Oct
3% Mar
109
12%
Deo
52
Aug
36
Jan
Jan 13
117
Aug
122% July
110% Jan 20
7% Jan 25
97
Apr
Apr
109
50
107*2 July 15
47U Feb 24
7*2 Jan 9
Oct
8% Apr
6884 Nov
15
122
3
3
28
2% Mar
Jan 30
Apr 30
Jan
Aug
Aug
17
35*2 Mar
% Mar
111
May 11
4%June 10
42
38% Aug
15% Oct
678 Nov
Mar
5
40*8 July 21
60*4 July 30
2634 Mar 6
37
66*4
Deo
Deo
378
9% Deo
9% Aug
Jan 10
Feb
73% Mar
31
Apr
118
105*4 Jan
Mar
Mar
37g Mar
9234
IO84 Sept
2
9
2
14
Deo
47g Mar
7*4 Mar
8
Apr
Deo
19*8
94*4 NOV
3
May 18
Jan 20
Jan
2
»4 May
234
9*4
3584 Nov
Mar
107i2June 11
11*2 Feb 1
7034 Feb 1
10
Feb
Aug
34% Aug
7
19*8 Apr 28
92>4 Jan 3
20
6*2
72
15
124
2% Mar
22*2 Mar
99i2June 17
5
May 2
145g Feb 17
984 Mar 26
43*4 July 11
18*2 Apr 7
Apr 28
6
7
100
21
137*2 July 17
166*2 Jan 14
10
9
'
50%
*12%
7% July 10
20% July
16*4 Jan
60
73*2
70
Nov
99%
121%
Jan
June
15*2 Jan 2
97
May 13
108*2 108*2
4%
434
43
Feb
47% Nov
96
35
10
Deo
5784
115
No par
56.50 conv preferred-No par
Andes Copper Mining
20
Archer Daniels Mid'ld.No par
7% preferred
100
ArmourACo (Del) pf 7 % gtdlOO
Armour of Illinois new
5
56 conv pref
No par
300
Deo
80
Jan
Anchor Cap---
13
4% Deo
40
Feb
3
1
2% Mar
26
Oct
Oct
Mar
Jan
No par
2,000 Amer Zinc Lead & Smelt...1
Preferred
25
100
55 prior pref
25
2234 Nov
30
57*2 Mar
133«8 Jan
Preferred
Mar
66
136*2 Jan
jAm Writing Paper
6,800
26,000
Mar
14
38
100
1,700
1,400
12
75%
3778
3
7
6,000
1,300
12,000
Deo
Nov
9
July 31
18
Preferred.
Sept
24%
June 12
25% Jan
6684 Jan
Amer Steel
173
102
3
par
25
-100
Foundries..No par
Preferred
100
American Stores------No par
Amer Sugar Refining
-100
Preferred...
100
Am Sumatra Tobacco..No par
Amer Telep & Teleg—
100
American Tobacco.——--25
Common class B—--—25
Preferred.
—100
Am Type Founders Inc — -10
Preferred
100
Am Water Wks A Elec.No par
1st preferred...
No par
American Woolen——No par
Preferred....
100
23,800
Mar
22% Dec
3*8 Mar
/49
June
130
July
par
preferred 6% cum...100
125
Jan 14
29
par
2,100 American Snuff---—
1,100
*100
Preferred
No
3,600 American Seating Co .No
150 Amer Shipbuilding Co.No
13,700 Amer Smelting & Refg-No
43*4
73*4
55 preferred..
Am Rad & Stand San'y.Nc par
Deo
8758May 11
11434
Anaconda W A Cable.-No par
99%
43
...No par
No par
3
1,100
99*2
121% ♦120
56 preferred
32
,
2
2,600
17%
43
Corp.No par
Light..No par
Deo
Jan
June
72
18%
56
18
42%
*120
100
6% conv preferred
Amer Power &
Jan
Deo
21
48% Jan
41% June
13% Jan
125i2Mar 29
63*4 Feb 11
55l2 Apr 15
Apr 28
31
Deo
53
Aug 7
136i2 July 28
6
57
57
*12
Corp...No par
Amer News, N Y
2d
5738 Aug
28*2 Mar 11
5% Jan 24
54
Aug 5
1934May 13
278May 1
34
Apr 20
May
June 17
84
353s Jan 21
Jan
7
1334 July 28
Jan 31
69
Aug
2838 Mar 26
28
39%
13
100
6% non-cum pref
Amer Internat
700
242
23% Mar 12
684 Jan 7
Anaconda Copper Mining..50
38%
*1134
1
No par
American Ice
200
Jan
Mar
103i2 July 27
56,100
38%
•
434
10
100
10
1
-.50
pref
12,900 American Rolling Mill
100
99*2
*50
18%
43
36
35,600
*139% 141*8
25
25% 25%
174%
174% 174
100*2 Z100
100*2
xlOl
102
103
143*2 143*2 143*2
13
1234
12%
99*2
57*4
18
42*2
*143
140
17%
57*4
18%
43*2
106*2 106*2
61% 61%
1,700
5,000
60
18%
58
18%
43*2
148
400
21,500
900
5634
58
120% *119
.
100*2
10334
27*2
...........
400
26*4
18*2
434
24%
175%
100*4
27%
89%
148%
conv
2,800 Amer Mach & Fdy Co .No par
1,200 Amer Mach <fc Metals..No par
7,600 Amer Metal Co Ltd..-No par
52%
26*4
37%
56%
12*8
87
800
5,100
6%
10,400 American Locomotive.-No par
2,100
Preferred.
—100
27%
*50*2
12*8
26%
*26%
1,400
129*2
53%
5834
*107% 108
140
28
109
1,200 Amer Hawaiian S S Co..—10
Amer Hide & Leather
1
52%
27*4
*99% 101*2
27%
*105
No par
No par
12,000
27%
*26
12%
165
■
.
53
*50*2
3834
*100
89
8,700 Amer & For'n Power...No par
1,300
Preferred
No par
27%
*27%
*52%
55
38%
12%
*
126% 127*2 *125
27*4
39*2
*119
53*4
141
-
36
*26
38%
*99% 101%
■<5/°4
•
34*2
*50
*26
39%
18%
2634
27%
*50
27*4
3834
*56
27%
55
55
*26*2
*50
19
1134
30%
25
25%
25%
25*2
25% 2534
106*2 107*2 *10534 10734 *106*2 107%
9
8%
9*8
8%
8%
8*4
63
65*2
62*2 64%
62*4
62*8
%
%
%
*4
%
%
534
6%
*5%
5%
5%
*5%
25%
106% 107*4
8%
%
%
%
25*4
62*2
8%
62
62
62
25%
106*4 106%
253g
165
109
*143
3434
53%
53%
52%
53%
141% *140 *
141% *140
24%
2434
24%
2434
2434
24%
24%
173
174
172
172% 174
170% 171
100
100*4
99
99
100% 101
100%
103
102
102% 10334
102%
101
101%
*143
144
143
144
143*2 *143%
*143
12%
11%
11
11%
11%
11%
11%
54
61
35%
126% 126% *125% 128
z/04
142
*140
6%
33
32l4
133*2
133*2 *132
53%
54*2
5334
5334
13*4
13*2
12%
13*4
75
75*2
76*2
75%
65
65%
66%
65%
22% 23%
22%
22%
133% *132
133%
133% *132
133% *132
*50
55
*50
55
55
53%
53%
13
133g
13%
13%
13*4
13%
13%
75
75
75*2
75*4
75%
76%
76*4
65
66
65*4
65*4
6534
64%
65*2
22
22%
22%
22*2
2234
22%
22%
*
*
*163
166
*163
165*2 165*2
16534
16534
27%
27
,27
"27% 27%
27%
27%
27%
26%
*109
109
108
*106
109% *108, 109% *105
109%
26*4
26
26
26
25%
2534
26*2
26*4
25%
27*2
27%
2684
27%
27%
27-%
27%
27%
27%
89
8634
86*2 87
8734 £86*4
87*2
88*2
87%
149
*145*2
*147
14834 149
149*2 *147
149*2 *147
10734 IO734 *10612 10734 *106*2 10734 *106*2 10734 *106*2
13%
76%
6534
22%
*125
18%
11*2
28%
88%
22%
11*4
3214
18*2
20
*132
*48
3534
6*4
11*2
27*8
86%
22%
11*4
31*4
86
Amer
15*2
47
28*4
100
New.l
European Sees..No par
6% 1st pref
Amer Encaustic Tiling
34%
4634
85
200
7%
*36%
22%
60
2,200
-v
16
37
27%
4%
14
36%
38%
11%
2,000 Amer Colortype Co
10
Am Comm'l Alcohol Corp..20
4,300 American Crystal Sugar
10
8,200
98%
157
8
162%May 29
30
Apr 30
575s Apr 27
100
7% preferred—
7*8
6
*132
*61%
14
26
Feb
100
No par
«.
ls4 Mar
6% Apr
11534 Feb 24
(Alleg Co).25
'
Deo
38*2 July 30
4578 Feb 5
39*4 Feb 11
25
Am Coal of N. J
•
Deo
Apr
Jan
3
36%
*15%
37
*19
84*4
23%
4%
4%
14
3
21%
11%
2834
*97%
97%
97%
63g
6%
10*2
25*2
28*2
29
*28%
46%
3
•
7%
26
10*2
26%
*10%
10%
2934
400
-
J&n
4
187
Deo
Jan
1,000 American Chicle
«.
*20*8
3%
65
100
Deo
Sept
14%
14*8
14%
33%
7
No par
Nov
2%
74
84 Mar
July
2,000
Preferred
7,400 American Chain
8512
55%
173
2
37
Preferred
1% June
Apr
186
37% Nov
24% Dec
20% Deo
8% Feb
2% Mar
4% Jan 31
Aug
10
17,700 American Car & Fdy...No par
Apr
Sept
13% Oct
100% Deo
39*2 Aug
98
40
4*2 Mar
6*2 Sept
104% Mar
Oct
7484 Nov
1178 Deo
40
267s July
124
Jan
share
52% Nov
Jan
July 17
1.100
June
8
per
116
Jan
49
Fdy.No par
28
%
Mar 25
195
(Del).No par
Am Brake Shoe &
600
Aug
4% Mar
8484 Jan
74
17*8 Jan 23
53s Jan 27
July
75
Preferred
Mar
9
50
Am Agric Chem
Feb 28
6*8 Apr
95
Aug
July 17
3
June
8184 July 22
No par
Amerada Corp
180
% conv pref
9,700 American Can
100
27*2
*13*8
53
2,300
127
10%
43s
85%
*28
28%
*97
16534 165%
41
42%
100
26%
4%
120
53
5134
136% 136*2
120*4 124%
51*2
127
10%
98%
70
99
30
-
6,800 American Bank Note
29
28*4
50
40*4
126
10%
7% preferred
1,100
99
2934
4*8
27,900 Allied Stores Corp.
No par
700
5% pref
..100
49,600 A Ills-Chalmers Mfg
No par
1,800 Alpha Portland Cem__No par
1,300 Amalgam Leather Co..
1
54
*28
27%
11*4
Allegheny Steel Co
No par
Alleg & West Ry 6% gtd_ .100
7,000 Allied Chemical <fe Dye-No par
3,200 Allied Mills Co Inc
No par
100
13
51
21*2 Jan
Mar 25
178
Jan
28
2
91
Apr
110
Feb
100*2 Jan 10
3534 Feb 14
Apr 28
3,100
70
,
125
pf__No
39
M
125*2 126*2
warr
900
*53%
*136%
124% 125*2
165
165
*164% 16534 *164% 16534
41
39% 40%
3934
40% 41%
86
86
85% 86
85*2
86*8
52%
5034
*49%
50%
49%
5034
136%
2%
Jan
32
1
74«4 Feb 10
137, Feb 21
27
Pref A without
103
2
56i2July 27
par
600
2 H % prior conv
118
100
100
1,200
110U Aug 3
59
Apr 28
9% Apr 30
1003s Jan 2
1778June 9
22*8 Jan 21
gHs Jan 14
738 Jan 2
58
Apr 28
Highest
per share $
5 per share
Apr 28
Pref A with 140 warr
Lowest
Highest
5 per share
42
Mar 31
2%
123s
12*4
1212
300
54%
98
40%
*68*2
51%
51%
*52
52
39
70
80%
25%
2%
2%
Paper Co..
No par
Albany & Susque RR Co..100
18,400 tAllegheny Corp
No par
Pref A with 130 warr
4,800
100
24l2
13*2
A P W
10
242
56*4
52
4034
.
26%
5434
100
33%
56
97
6,400 Air Reduction Ino new.lVo par
2,300 Air Way El Appliance.No par
1G Ala &
Vicksburg RR Co.. 100
15,600 Alaska Juneau Gold Min___10
106
24%
13%
*79%
81
97
*98*2 100
5134
51%
*124
98%
232
13*4
81%
*101
24*?,
13%
*78
2%
24*4
13
54%
*98*2 101
51
50*2
40
3834
*68% 70*2
51
51*4
*98% 100
50*2
*24%
*50*2
54*4
32%
3234
5234
2%
4034
40%
137g
1434
14%
4
*3*4
3*8
182%
18234 *175
4*8
4*4
3%
4%
38
40
3734
3634
38
39%
36%
36%
38
36
36
38%
41
41
4134 43
*175
106
8034
95
3*8
3*4
25
*50
95
14*4
1434
178
218
80
787g
434
43g
'
_
12%
79*2
52*8
*24*8
165
*95
24*2
24%
12%
77
77*2
434
4*4
-
-
*101
70*2
51
51%
61%
51%
*136*4 136*4
*136% 138
*136% 138
125
126
125*2 126
125*2 126
*165*8 165%
40*8
4134
•»«.
*3%
*175
*36
•
77
Range for Previous
Year 1935
lOO-shars Lots
Lowest
Par
1,400 Acme Steel Co
8,600 Adams Express
66%
13*8
12%
40
110% 110%
873
Range Since Jan. 1
Shares
*110*4 HI
NORFOLK, VA.
2
On Basis of
stock
Week
$ per share
66
*65%
york
•
exchange
$ per share
,,
*53
55
55%
55*4
55*2
64%
*110% 111
*110*4 111
110% 111
112
the
Wednesday
Aug. 5
$ per share
RICHMOND, VA.
.
stocks
new
for
Friday
Thursday
Tuesday
Monday
INDIANAPOLIS
•
Record—Continued—Page
CENT
NOT PER
RE,
Saturday
orders executed
Commission
leading exchanges
New York Stock
and other
Paine
&
3*4
84
Jan 28
55% May
125
Jan 28
85
62% Mar 23
15
Mar
Jan
6*8
70%
110
Deo
Jan
Jan
Jan
25% July
50 84
Dec
Mar
9%
Dec
4
New York Stock Record—Continued—Page 3
874
LOW AND HIGH SALE PRICES—PER SHARE,
I
NOT PER CENT
Aug. 8, 1936
1
Aug. 3
Aug. 4
Aug. 5
share
S per share
$ per share
8 per share
Aug
S
per
,
1534
1534
*106
110
18
15%
15%
Ibh
*15%
♦106
110
*106
18
6
16
15%
106
16%
110
*106
On Basis of 100-share Lots
*106
Lowest
16%
Par
10
*1057g 109
*106% 109
115
*113
115
*113
115
*113
115
*113
115
*113
115
*39
41
40
40
*39
42
*38
42
*40
42
*39
42
84
83
843*
106
105
1053*
84%
83%
105% 105%
8334
*105
31%
22
22
*25
28%
29
29%
1135s 1135.
657g
6578
32
21%
28%
123i2 1231? *123% 128
17
*165g
34
16%
16%
33%
34%
6%
6I4
*32
83
105% 105%
31%
32%
31% 3134
*21
22
*21% 22
28%
*25% 28% *25%
*25%
28%
28%
28%
28%
28% 29
*113% 114% *1127g 114% *113% 114
64%
65%
6434 65
65%
63%
3II4
21%
3118
843
83
34
6%
♦32
105
122
123%
122
"
16%
32%
6%
33
33
♦33
6%
34%
534
534
6
3%
3%
3%
3%
3
3
3
*27g
38%
40
38%
38%
40
*37%
20%
3034
21%
4234
40%
41
2118
21%
20%
21%
3U4
31%
31
31
6%
*36
*54
-----
31%
*54
56%
66%
56%
557«
54%
56
54%
55%
18%
11734 11734
18%
18l2
18%
18%
5434
18
3834
118
3834
2734
465g
88X2
4034
3058
7834
8I4
*1%
15%
84
86
4034
4084
3034
30%
31
79%
79
79%
5334
50
49
49
49%
8
8
*3634
3834
5034
51%
77s
*367s
51%
*102
*49
*51
103
103%
4978
5178
5*4
6
5%
67g
9,000
Aviat Corp of
DeI(The)new.3
3%
3%
39
41
7,200
1,200
2,900
Works.-No par
3
*41
42
3%
3%
42%
42%
Baldwin
3
43%
116%
16%
94%
17
93
89
30%
56%
54%
66
18%
18%
18%
117
118%
39%
1534
16%
*24
24%
24%
110% 110% *110% 111%
85
85
85
85%
29
3034
30%
31%
45%
45%
45%
45%
88
88
90
88%
39
39
52
3,300
500
103
15
1434
5334
50
50%
38
52%
50%
49%
778
37%
37%
51%
51
51%
5034
*37
5034
8
1434
53%
77%
8
380
8
517g
1178
121
122
1334
13%
L10% *105
122
122
14%
111
122
*105
122
15
14%
147g
52
52%
50
8
r
8%
109
15%
14%
110% 110% *105
123
500
1%
13s
434
21%
22
21%
69
*67
29%
40%
6884
29%
29%
40%
41
1%
97g
1%
1%
1%
1%
1034
10%
10%
32%
28%
10%
3284
11
10%
11
32%
33
28
28
28%
34%
2878
28
27%
47g
28
27%
28
13
13
*13
*17%
19%
*17%
4%
4%
32
3134 32%
*28% 287g
28% .28%
*5
*13
2734
5
5%
14%
*16%
19
4%
21%
68%
28%
39%
'
28
5%
13%
*17%
13%
19
4%
28
43g
217g
6534
28%
38%
39%
21%
■
65
•
1%
1078
11%
1%
11%
11%
1%
11%
11%
11
337g
34
34
34
33
14%
137g
39%
1%
*56%
12%
*41%
*1334
*5078
42
*95
99
*56%
12%
*41%
*1334
12%
16
*51
51%
*_.
734
160%
140
7478
26%
2934
75%
30%
4234
8%
147g
14%
*56%
12%
*41%
16
*14%
*51
51%
-
-
159
7%
163
15%
mm
—
42.
99
*99% 101%
7%
7%
159
15%
*56%
12%
41%
-
12%
168
1
1%
1%
16
51%
-
12%
101%
"7%-
1%
42
-
99
*
*98
1%
1%
39
D8 July 16
yl2% July: 2
4314 Apr 30
47%June 30
41
5
4
3312 Jan
40% Jan
7
2
16 preferred series A.No pai
Brooklyn Union Gas...No par
9784 Feb 4,
44i2May 11
.No par
Brown Shoe Co
2,100
8,000
9,400
No par
jc50
Bruns-Balke-Collender.No par
Bucyrus-Erie Co...
Preferred.
200
7%
.
200
preferred
preferred1st paid rights
8%May 19
2878
43
1%
11%
11%
1%
11%
33%
107g
X33
33
33
1%
*15
*166"
101%
7%
7%
165% 16834
16%
57%
57%
12%
42%
700
*
99
*I6o~
7%
166
16
15%
51%
.
101%
7%
166
5078
*
16
51
99
*100"
7%
166
TTC
"
11
1034
11%
10%
10%
10%
10%
927g
90
90
90
90
91
95
103
103
*19
20
*40
56%
83
6734
2
102% 102% *102% 103
19
*51
53%
8034
67
67%
*4
2
*1%
*7%
8
*8%
29%
29%
1%
7%
10
29%
1%
3%
3%
3%
3
27g
3
9
1934
*51
1%
434
*1%
7%
*8%
29%
8%
1784
1734
57%
*57%
8%
177g
58
103
*19%
1%
*4
2
*102%
19
5434
81%
81%
6734
4%
1%
19
*51
81%
67%
*1%
10
19
56%
*1%
7%
*8%
29%
1%
3%
234
2
'4%
17b
7%
10
29%
1%
80%
6678
*1%
*4%
1%
7
*8%
29%
1%
3%
3%
278
27g
8
8
1778
56%
56%
177g
*7%
1734
*57
80%
67%
2
4%
1%
7%
10
29%
1%
3%
27g
9
97g
10%
98% 102
103
1%
3%
2
2
2
2
5%
5%
47g
5%
5%
5%
5%
28
*27
277g
27
For footnotes see page 872.
27
27
27%
27
100
.100
7,900
6,700 C
1,520
*1%
2
preferred
."....100
40 C hamp Pap & Fib Co
6% pflOO
Common _________..No
8%
"
2%
5%
5%
27»
57g Mar
IO784
Jan
Jan
4
91
Jan
4
6®4May 22
9212 Jan 6
116
Jan
7
54
Apr 30
May 1
6I2 Apr 29
97i2May 2
4734 Jan 21
80i2 Feb
101
19
4
4
Mar 13
1,700
10
IZIZlOO
Preferred
.100
t
1,200 C
"33"
Nov
33% Sept
72
Feb
June 10
Sept
3134 Apr 15
117g Mar
243s Mar
57U Apr
5
2
34
6334 Apr
19
2,900 X
1%
1%
3%
3,700
3
2,500 C hicago & North
300
Preferred
Preferred
100
Western. 100
100
2,000 C hicago
700
2
2%
1,800 X Chic
57g
57g
5%
2,400
5,200
700 C
Pneumat Tool.No par
preferred
No par
Rock Isl & Pacific.. 100
preferred
100
Conv
7%
6%
preferred
100
2
12
13
30
27
1 2% Apr 29
634May 1
12X2 Apr 30
4034May 4
1 x2 Apr 23
3% Apr 24
3% Apr 28
1934 Jan 2
Sept
Jan
5712 Nov
Feb 28
12014 Mar 26
48
Apr 6
2014 Feb 19
2412 Aug
113
5
Jan
99
6
Feb 28
3D4 Aug
6318 Mar
6
7
100% Apr 13
45
Jan 15
1434 Mar
95g Mar
1658 June
103U Jan
28I4 Mar
6i8 Mar
395g July
90
Jan
38
Dec
Mar
3134 Aug
6
21
8312
IU2
33s
1878
4
28I4
Mar
Dec
2211
597g
Dec
100
Jan
July
4784 July
2734 Nov
Dec
87g
Dec
Feb 14
12 June
Feb 13
812 Apr
24i2 Feb
23ig Jan
303g May
6
4
50i2 July 24
1214 Mar 5
5112 Mar 5
5334 July 29
Apr
Y
56I2 Jan 31
65% Jan 15
Mar 23
July 22
1578May
114
Dec
90
70i2
Apr
123
Nov
Jan
69
13
17
114
334 Mar
647g Mar
104
27i2 Sept
237g Aug
Jan 30
5
13g Apr
14
May
3612 Mar
90
Jan
43
Mar
63
Mar
33s July
414 Mar
8i8 Mar
6234 Mar
314 Mar
23
Apr
Mar
2«4 Dec
17i8 Nov
5538 Oct
55
Oct
42
Dec
512 Dec
38
Deo
46*4 Aug.
100
Aug
7U2 Aug
6334 Aug
lli2 Dec
87g Dec
1734
100
Dec
Dec
984 Nov
97%
Dec
35sMay
158 Aug
14
Mar
345s Aug
3Ua Feb
3314 Feb 13
9
Mar 23
19
Mar 24
2478 Mar 23
212 Mar
334 May
8I4 Mar
3314 Mar
1
Apr
514 Apr
10
Mar
65s Mar 20
2514 Feb 13
li8 Mar
113g Mar
74
32
Jan 10
Mar
143g Nov
1434 Nov
2412 Nov
28
Nov
3i8
Jan
IOI2 Jan
2212 Jan
312 Nov
20% Jan
66
Dec
3038 July 20
43
7
Aug
178 Feb 10
14
Apr 13
4014 Apr 2
I6I2 Jan 2
5734 Mar 24
16
Feb 19
4312 Jan
18i2 Feb
5212 Apr
97i2June
101% July
934 Feb
11
24
18
10
7
19
186
June 22
143
July 15
78%
3214
3U2
76i2
35%
Apr 15
Jan
6
Feb 19
July 31
Mar 13
3012 Aug
14
2i2
7i2
8%
50
8%
30
July
Mar
Mar
Sept
Apr
Oct
June
43g Mar
934
107
1914 Mar 24
Mar
4584 Mar
8312 Apr
3612 Jan
1912 Apr
16i8 Nov
55
2214
Nov
Feb
38%
Mar
Jan
88
Oct
Jan
Oct
Nov
95
Dec
Nov
'
8is
Aug
July
Dec
JIU4 Nov
126i2 nov
60
nov
35% Jan
2U4 Nov
6234 Nov
29
May
6212 Aug
123g Jan
10912 Jan
Jan
6538
Dec
3% Mar
1538
8814
Dec
23
102i2June
14
7
6i8 July
96I4 Mar
7
66I2
1334
40i4
85
Jan 17
Apr 14
1%
634 Oct
333g Nov
i7% Dec
48
34
Mar
58
~42% "Feb
Feb
Feb
32%
8214
Feb 21
57
Mar
Dec
10414 Mar
x21
Apr 29
»69% Apr 17
Jan 13
Jan
95
1434 Nov
11712 Mar
241? Oct
2284 Deo
8
1513 Mar
4% Mar
25a Feb
Jan 31
6
27S Feb 11
578 Feb 11
478 Feb 21
12i8 Feb 21
2012 Jan 2
July 22
59
3
-
Feb
8
8
; Jan 11
8
July 15
21
Dec
6H4 Nov
5314
Dec
Apr
2i8
Jan
78 June
Feb
314
Deo
214
5%
Jan
%
5
83$ June 27
12
3138 Jan
Mar
1
Jan 15
4
Dec
May
3912 July 16
314
6 May
253sMay
D2 Apr
278 Apr
1434
115
2018 Nov
6I4
4
Nov
1081s June
278 Jan
II4 Apr 28
Dec
15i2 Nov
88
Oct
138May 19
preferred
116
Jan
37i8 Mar
6%
18
Sept
25U Dec
4912 Aug
14
Mar 11
36
X
Jan
Dec
100%
26
6938 July 15
600
40
Dec
lll%May 29
July 30
2
Aug
5U
65s
Oct
105
Jan
29%
27
Feb
51
3
26%
Apr 8
195s July 13
11414 Jan 15
Mar
June
32
11,700 C
3%
5%
314
Mar
Mar
Mar
85U July 17
500
3
7i2
9ig
36i8
10614
2
400 C
7%
Jan
Jan
2
7%
*8%
63
59
4%
x29
Jan
3512 May
2% July
3,600 C
2
7
Dec
3
2
4%
10
8
87
Sept
14
2214 Jan
par
2
29%
1%
3%
4534 Jan
SUJune
7%
4%
2
5%
Preferred.
------
683g
8%
18%
5%
434
preferred..
<
67%
2
6
253a Jan 6
35
Apr 28
67%
57
57g
5%
82%
*8%
18%
534
360
100
Jan
19
No par
500
82%
57
2%
100
300 C
18%
5%
1
1038 Apr 30
1078 Jan 20
37
Apr 30
1234May 8
5484 Jan 16
2134May 22
500
57
57g
No par
1,700
52%
82%
1734
2%
25
JCelotex Co
20
*7%
2%
100
Caterpillar Tractor....No par
Celanese Corp of Am..No par
3,000
103
56
634
6,100
11,400
51
18
67g
30
20
58
6
54
Stamped
103
3
6
6
Carriers & General Corp.
1
Case (J I) Co
..100
Preferred certificates
100
19%
7
*8%
29%
10%
6
Jan
Capital Adminis cl A
55
103
19%
*51
8034
6634
*1%
*4%
*134
10%
101% 101%
2
Jan
Preferred A
10
Carolina Clinch & Ohio Ry.100
6,900
1
1U2 Jan 10
2084 Apr 28
25
Apr 27
212 Jan 2
8I4 Jan 2
14% Apr 29
258 Jan 2
I6I2 Apr 29
54i8June 15
22
Apr 30
30*4 Apr 30
1% Jan
100
169
1
1
July 15
83s Apr 30
6
210
1,500
139% 139% *130
139
*130
139
139
139
*13Q
138%
72
74
re
74,
74
745o
7234
76
1 U
*x
73%
7434
25%
26%
25% 25%
25
247g
253g
26%
25%
25%
29%
297g
28
29
28% 29%
28%
29%
28%
28%
75
75
75
*74
76%
75
76
075
75%
75%
3034
31
313g
31
30% 30%
30%
30%
30%
30%
43
43
*39
*39
40
38
40
427g
41
38
*7%
8%
*7
8
8
7%
7%
*7%
*7%
8
*100
107% *100
107% *100
107% *100
107% *100
107%
53
5134
53
52%
53
52%
52%
53%
52%
52%
1
30
Cannon Mills....
------
101%
778
8
Canada Southern
Canadian Pacific..
23,400
42
Jan
85
Campbell W & C Fdy__No par
Canada Dry Ginger Ale.....5
10
12%
*41%
*51
51%
99
15%
—
41%
*15%
16
51
*
Callahan Zinc-Lead....
1
Calumet & Hecla Cons Cop.25
4,900
15%
No par
100
Byron Jackson Co .....No par
California Packing....No par
18,200
1,400
69,300
12%
147g
»
107%
527g
2,600
12%
42
Byers Co (A M)
Preferred
25,400
*56%
16%
"12%
No par
No par
Bush Term Bldg gu
pf ctfs.100
Butte Copper & Zinc
5
410
7
2
158July
No pa
Burroughs Add Mach..No par
JBush Term
....No par
Debenture..
..100
5,100
Mar
9i8 Jan
115
0I2 May
a:20
14i4 Feb 14
..100
Bullard Co..
2,700
2
2018 Feb 14
Bulova Watch
mmm'mmm
July
2034 Mar 19
Apr 11
102
7
100
May
21
2
Second paid rights
5,500
May 19
28
1912
4512
7% Apr
878 Jan
Budd Wheel
13,400
3,600
1,800
Mar
Mar
28
13%May
100
Sept
4812 Nov
H2 Feb
24i4 Feb 21
3478 Aug 7
49i2 Feb 28
118
4
15
24
22
10
No par
7%
19,000
67g Feb
334 Apr
54i2 Feb
4312 July
.......5
...
Budd (E G) Mfg
600
40%
Jan 17
412 Jan
Preferred
300
68
2
Jan 21
Apr 27
Bklyn Manh Transit..No par
300
5
June 30
6
Brooklyn & Queens Tr.No par
1,100
147g
1978
4%
21%
4%
21%
6678
287g
21%
67%
28%
40%
28
33%
14
21
*66
11%
34.
5
478
*
4%
21%
68%
287g
40%
1%
1%
June 27
80%June 12
'
1%
3
64
Bristol-Myers Co.
7,700
15% 109,400
110
Jan
10
1,000
*49%
7
100
6,700
7*4 Mar 18!
Oct
3234 Apr
10634 Jan
79
Corp
JBotany Cons Mills class A.50
126% Apr 18
30is Feb 14
54% Mar 5
10% Jan 15
4612 Jan 24
2012
5
& Maine...
10,900
51%
*122
122
100
35i8 Apr 10
89i8May
255s Jan
)n
Mar
5
June
14i2July 8
18i4May 8
10934 Jan 24
7714 July 11
1678 Apr 30
No par
-Warner
600
6
1U8 Mar
23
Ami class A......No par
Class B
5,600
*50%
15%
1434
on
July 13
4
4534 A or 30
16i8 Apr 28
107i2July 8
9,700
17b
15%
*1%
52%
5134
4934
8%
...100
Dec
Dec
31
16U Mar
44
150
41%
31%
78%
103
102% *103
103% al03
*102% 103%
*49
49
49% 49%
493g
49%
49%
487g
51
51
51
51
51
51
*50%
51%
10
10
10%
10%
10%
*97g
10%
10%
12
12
117b
12%
12%
12%
12%
13%
17
17%
1734
17%
17%
18%
18%
187g
34
*27
31
1%
784
37%
50
778
90
41
"
53%
*49
*87
102
4934
13%
Preferred
400
51%
*18%
4%
*8%
45%
51%
1%
1434
100
No par
Jan
17i2
1978
Mar
96
215s Jan 20
w-Sanf Carp Inc-No par
51,700
2,400
38
51%
20
*17%
*57%
2%
45
8
preferred
Dec
37U
3
2
Jan 18
Knox Co
9218
July 13
8
Jan
preferred
6658 Mar
1912 Apr
•
25
83
5
(Del).No par
20
Dec
Feb
20
new
Dec
60
13i8 Jan
No par
170
31
4934
*18%
1%
87
6
48
6%
7%
160
8
88%
Aviation....
120
30
10312 Aug
Feb 28
400
87
8
35
Reel
1,300
49%
8%
397g
5%
14%
197g
4%
3%
*27g
110% 110%
2
85
8,200
51%
28%
4%
24
Jan
Jan
Beneficial Indus Loan..No par
47,000
3,700
*1%
14%
517g
5134
5%
*1%
24
18
107
50
Bendlx
100
2
14%
67%
39%
16%
24%
1634June 26
May 8
Best & Co..
4,000
Dec
44
3534 Mar
July 28
10634June 11
3534 Feb 21
9
20
Belding Hemlnway Co.No par
Belgian Nat Rys part pref....
39,300
*134
28%
83
58%
18%
18%
118
118%
39%
39%
16
16%
Apr
110
Beech-Nut Packing Co
m
1%
5
*86
563g
117
387g
15%
297g
21%
56%
mmmm-
77%
14
11
*55%
297g
-
31%
28%
5284
56%
*55
56%
---
8
5
*100
21%
29%
21%
21%
*8538
29%
213g
76%
28%
*7%
86
*85%
100
No par
Beech Creek RR Co
m
31%
*13
*41
m
900
8
29%
7334
2578
29%
75%
30%
'mrn
77%
29
158
m
3
5
212 July 9
2% July 8
2912 Apr 30
3334 July 8
1578 Apr 30
21
Apr 30
4178 Jan -3
II214 Apr 3
13i4 Jan 6
8214 Jan 10
14i8 Jan 6
Creamery—.....25
$5 pref ww
1,900
137g
31%
29
*130
—
93%
5
.No par
100
Preferred
1
*38%
85
40
*7%
31%
*7%
93%
1378
76%
31%
29%
3834
*37%
9312
1378
307g
10%
3134
21%
*67%
*29%
40
93%
13%
14
Beatrice
m
1,100
■
100
Barn8dall Oil Co..
1,100
mm
100
No par
Bayuk Cigars Inc
1st preferred
80
—
50
6 34% conv preferred-
10,700
3,200
—
100
Barker Brothers
40
'
100
Bangor & Aroostook
Preferred
40
*92
assented
Preferred
800
1578
1578
94%
16%
17%
18
18%
112
111% 111%
2234
223g
22%
11178 *111% 1117g
104
103% 103%
103%
*37%
40
113% 114
100
Baltimore & Ohio.-
400
,
8
10
434
43
31%
78%
10
*31
43
Pref
13,200
18%
111% *111%
2234
*22%
1117g *111%
104
Assented .;
47,200
3478
30%
7778
1734
10
23
32%
2134
32%
*427g
43%
*114
116%
*1534
16%
*92% 94%
17
1634
18
18%
Loco
Preferred
200
217g
3034
41
103g
*1%
*40
20%
32
40%
17%
107% 107% *105
41%
4034
10%
1178
121
29i2June 30
4034
17%
13%
No par
4034
12
13
Prior A-...
88%
40%
15%
54%
*51
10%
12%
1734
*120% 121
5-Vune 30
4578
503g
49%
49%
10%
No par
88%
15
15%
54%
Austin Nichols—
45%
2
52
1,800
46%
*1%
2
Jan 17
June 26
30
109
100
Feb
June 12
14
34
Apr
Mar
87
Feb 18
Oct
Nov
1834 Nov
8078
2934
73
978
90
48
2
June 19
115
Jan
26%June
-No par
-
Apr
712 Mar
5D8 Feb 10
2
48
100 :cll2
30%
.8
No par
.w..;
112
2
24
22
24
4
22
Atlas Tack Corp..—--No vox
Preferred
10934 Apr
2
Auburn Automobile.
100
500
.
29%
8%
25
100
4% conv pref set A
334 Mar
70
May 13
1914 July 27
Jan
6,800
30
*7%
8%
*83
Atlantic Refining—
Atlas Powder.
3
118
120%
16%
28%
45%
88%
4034
*
100
Preferred
June 19
22% Feb 27
108
90*4 Jan
215s Apr
11
Apr
1312 Apr
26%June
11238May
-.-...
-
3%
54%
18%
39
*83
28%
46%
88%
*51
54%
120
Preferred-
59
Santa Fe--100
-100
6
*55
56%
*38%
387g
1534
16%
24% *2334 24%
110% 110% *110% 111%
16%
*23
24%
*11034 IIU4
*83.
118%
*38%
16%
*22%
16
Atch Topeka &
3
---
-
Feb 21
May 21
3%
■
--
98
36
534
21
20%
30%
34
34%
103
3%
43
*42i2 43%
*427g
43%
43%
43%
*11312 H6X2 *114
116% *114% 116% *114
17
*16ig
16%
16%
16%
16%
16%
*92
94%
94% 94% ♦92
94i2 94%
17
17
17
17%
17%
17%
17%
18
18
18%
*18«4
18%
18%
18%
112
*111
112
112
*111% 112
111%
23i2
23%
2234
23% *22% 23%
22%
*1111532 11178 ♦Ul'%2 1117« *111'S32 1117s *111%
104l2 10434
104% 104% *104
104% 104
40
*3714
*37% 40
*37% 40
*37%
93
93
93
93
92
93
92%
14
14
14
14
14%
1378
13*4
*8514
*85%
*85%
*85%
2934
29% 30%
3034
297g 30%
29%
22
22
22%
2134
21% 2134
213g
-
400
1,400
121% 121% *121
122
*15%
16%
16%
16%
33
31% 32%
33%
6%
6%
6%
6%
*33
100
100
Atlantic Coast Line RR...100
9,600
Jan 20
Oil.—...—.---25
Associated
At G & W I SS Lines.-No par
100
3
818 Jan
125s Apr 30
460
67%
16%
234
*40
67%
31%
*6%
57g
40%
66
66
tper share
95
1,100
18,700
23%
*25
27% 27%
28
2734 28%
28%
113% 113% *1127g 113%
17
3%
27«
40
33
8,000
21%
34
584
41
33
21%
28%
Highest
I per share
Artloom Corp........No par
Preferred
100
6% 1st preferred
7% 2d preferred--
-
867g
105%
33%
32
3ig
278
*40
*105
31%
2,100
40
*16%
6%
34%
57g
34%
85%
21
.
123
847g
105%
Lowest
$ per share
Associated Dry Goods—
1,700
110
*113
1734
Highest
$ per share
Week
*105U 109
17%
Range for Previous
Year 1935
EXCHANGE
Shares
1734
*17%
17%
17%
1778
18%
*106% 108% *102
108
108% *102
177g
.
NEW YORK STOCK
}
$ per share
'
1734
Range Since Jan. 1
Jor
the
Friday
Aug. 7
$ per share
1534
15%
106
110
Aug.
STOCKS
ffiy
•|
Thursday
Sales
1
Wednesday
Tuesday
Monday
Saturday
/
1%
Feb
Dec
Mar
9
Dec
19% June
14 Mar
x35
Nov
1
3
Jan
84 Mar
434
Jan
13* June
55s
Jan
*3% July
45s Mar
20
Mar
% Ju|y
1% Mar
1% July
914 July
10%
Jan
20%
Dec
5434
2%
Dec
Jan
414
Dec
4
Jan
19«4
Dec
Volume
LOW
AND
New York Stock Record—Continued—Page 4
143
HIGH
SALE PRICES—PER
SHARE,
Sales
NOT PER CENT
STOCKS
NEW YORK
for
Saturday
Auy.
Monday
1
$ per share
25
25
Aug.
17i2
*2312
85g
36%
118*2 121
175S
1734
835s
835g
6%
6*8
6ig
*35
32i4
*110
36
*50
25
8i2
33
111
8i4
*31*2
51
1181S
173s
83i2
*6%
32i4
3134
111
3578
11034
36
*50
Wednesday
Aug.
$ per share
25i2
*31
17i2
84
*110
3
$ per share
♦812
9
*3H2 36i4
1185s 12078
83i2
6%
?32%
Tuesday
Aug. 4
*3614
5
Aug.
per share
6
6
29*4
29*4
32
32
6
50
*47
48
48
*26*8
*28*2
6
28*2
30
30%
27
2734
29%
129%
29
*27
2834
*28%
29%
129% 129*2
37
37*4
38*2
38%
*44
47
*44% 4634
22*8
22%
22%
2234
*105
106
*105% 107
29%
*28%
99
99
71*2
99*2
7134
71%
128
105
78
105
7834
119
*116
16%
1634
334
76
76
3%
75*2
:
778
3234
*1734
8*4
'8
8
32%
*1734
*1258
13%
*21*8
26
12%
*21%
9%
*70*2
938
9*2
*70
74*2
*73
75*2
'
33%
20
7%
32%
33
1,300
Clark
12,300
103
10358
-
-
900
103
53U
5314
112
15,600
5312
28i2
*27%
120
6
6*4
2,400
2934
28»4
2934
30
30 34
270
28
30
31
100
.
*28*2
29%
2134
107
-
-
73
73%
74
76
*7%
74%
7%
3234
32
32%
7*2
20
*18
20
18
12%
*12
12%
12
15,700
73%
78%
6,300
117% 117%
118
118
2,100
78*2
117%
117%
400
74
16%
16%
36,100
3%
3%
3%
49,800
75
74*2
1,200
75*4
7%
7*8
7*4
1,200
32%
>
31
30%
31%
20
10,100
*21%
25*2
*21*4
9*2
9*2
9%
16%
74%
*18
1,300
19
*18
20%
"l6"
"16"
934
9%
934
9%
*70%
78
77%
77%
*77
78*4
91
*75
91
*75
78
*75
91
*75
91
*75
484
>
484
17*4
42%
107
107
538
5*2
1234
12*2
*105*4
434
434
4%
434
17
17*4
*1634
42
42%
42%
17*4
43*4
4%
434
16%
16%
4134
42%
107
107
*107*4 10734
5*2
*5*8
5*4
5*8
12%
12%
12%
13*8
*106%
7*8
%
*234
%
3*4
7
-
-
-
7
*2
107*4 10734
5*4
5*4
12*4
1234
*106
-
7
%
%
234
*106
7
•••"„
7
%
~mmm
7
■
434
17
434
4%
17
17%
Jan
Commonw'lth & Sou...No par
$6 preferred series...No par
Conde Nast Pub Inc...No par
55
97
14%June 26
2*4 Apr 30
2458 Feb
5*2 Feb
59*4 Apr 28
82
7
July
"
*106
*106
u
w
—
6 5*4 June
24
78
Jan 27
Feb 13
85
Mar_
85
Mar 25
72*2
Preferred
-
500
^
....100
Prior preferred
100
Prior pref ex-warrants
Consol Film Indus
Preferred
-
.100
1
..No par
Consol Ed Co of N Y__No par
$5 preferred
No par
Consol Laundries Corp
5
Consol Oil Corp...
Preferred...
No par
No par
6«4
634
*634
7*4
1,300
*2
*2
*2
%
4,300
Consol RR of Cuba pref... 100
tConsolidatedTextile..No par
400
Consol Coal Co (Del) v t c.25
330
5% preferred v t c
100
Container Corp of America.20
Continental Bak CI A..No par
2
2%
86%
2%
4,600
Class B
87*2
1,300
Preferred
234
3
*2%
2
Aug
102
20
6
June
72*4
73i2
4*8
15%
2714
3
Apr 30
Apr 30
Apr 30
Jan
3
Jan
6
6 34 Aug
6
38May
5
2
June 18
1214 June 18
1584May 14
103g Jan
6
No par
15s Jan
2
100
67i4 Jan
67i2May
3
7
87
87%
71
72%
20*4
71
72
70*4
7134
70%
72
70%
71
6884
70*2
20,200
20*4
20*4
20%
20%
20*4
20*4
20*4
2034
20%.
22%
4,300
Continental Diamond Fibre..5
17%Jqne 30
39%
2%
39%
39%
39*4
3*4
39%
38%
39
38%
39
3,800
Continental Insurance
30%
31
30
30%
32
34
34
34
34
33%
33%
66
66
66
66
66%
*66
,66*4
69%
69*2
6884
70
66%
67%
39*4
3%
30%
32%
66*4
38%
31%
68*2
68
6834
68*4
8634
59
•
3*4
30%
33
33
30*4
32*2
66*2
66%
67%
68*2
9%
36*2
*106
*1%
*11*2
10*8
9534
*37%.
18%
47%
109
46
27
9
163
*160
163
*160
16234 *160
16234 *160
16234
5
5
5
5
5
5
5%
5*8
4%
4%
36*2
36%
36*2
36%
36% 36%
36*2
36% 36*2
36%
2934 30%
30
2934
2934
29%
29%
2934
29*2
29*2
59
59
58
58*8
58%
58*2
5834
58%
59% 60%
47
47*8
109
47%
47%
*104
*107% 109
9
934
9%
9.*4
35
35*2 ,36
35%
106*2 *105% 106*2 *105*2 106
1*2
:
1*2
1%
1%
1%
12
11%
11%
11%
11%
10*8
934
9%
934
934
94
*92
94
9534
9334
37*2
*36*2
37*2 *36*2
37%
20
19*4
19%
19*4
1934
934
8%
9*8
35*4
36*4
106*4 106*4
36*2
*10334 104
6%
7*8
104
7
104
7
*47*2
109
4734
"2", 900
Coty Inc
No
2,200 Cream of Wheat ctfs.. .No
1,500 Crosley Radio Corp...No
No
2,800 Crown Cork & Seal
47%
1,500
50
•
-
-
-
4
35
par
1558Mar 16
435s Jan 7
4518 July 29
46*4 July 22
par
11%
9%
94
*36*2
19
1%
11%
934
95
37*2
19*4
104% 104%
7
7*4
7*8
1%
1%
1134
*11%
9*2
9*2
8,500
Crown Zellerbach v t c.No par
39%
5,000
Crucible Steel of America. .100
37*2
37*2
38
19%
19
1934
104% 104%
*64
70
*42
47%
*42
47%
*42
47%
,*42
47%
60
60*2
60
59
59*2
59
*64
70
10
42
42
20
66,900
91,300
'
Preferred
Curt Iss-Wright
—
8%
1
1
Class A
preferred
pref.. 100
No par
Inc..-No par
Cushman's Sons 7%
1,900
Cutler-Hammer
1434
15
1434
1434
1434
14*2
59*4
1434
62
1434
59*2
14%
60
14*8
1434
14%
4,000
Davega Stores Corp
75
74
7534
75
77*2
75*4
78
75
75*2
76%
77%
9,300
Deere &
*29
29%
23%
23%
23
2334
4,400
44
45%
19%
46
47%
12,700
20*4
16,900
Delaware Lack & Western..50
,6*2
100
Denv & Rio Gr West pref .100
29%
*29
30
*29
24%
24*2
24
24%
2384
24*8
23*2
45
45*2
44
45*2
44
45
44*4
29%
24*8
45%
19%
I884
6%
19%
19
19%
'
19
19%
*6
150
6*2
150
*01
6%
151
5%
*4%
*6*8
151% 151*2
*4%
*4%
5*2
*13*8
18
*13%
18
*13%
18
*13%
*54
57
*54*4
56
*54*4
56
57*2
56*2
*9
9*2
76*2
75%rr>15,„
*39
*23
*34
57*8
*8%
76
fil„
r6%
3934
39%
25
23*2
1
*34
56
•9%
74*4
75%
39*4
39*4
*39*4
3934
39*4
39%
3934
40
24
24%
25*4
1
*34
*14
14%
14
166*4
14
14
165*2 16634
114
11334 114
18
18
9
180%
157
*12*2
8%
9*8
17934 180
160
160
34%
34%
9%
9%
9*2
9*2
39%
38%
39
872,
4,700
No par
Dome Mines Ltd
1,000
Dominion Stores Ltd.-No par
56,400
8,100
Douglas Alrcr Co Inc..No par
700
Dresser(SR)Mfg conv A No par
1,900
Convertible class B..No par
934
1
*34
1
*1%
2
*1%
2
100
5*4
900
Dunhill International-
13%
500
Duplan Silk
2
6
*5*2
534
14
*13%
10
39%
14
166%
-
13%
-
*115
163*2 165%
16412 166
400
50
18
8%
34
*12*2
18
8%
9
*12%
158
158
158
38%
113*4 113*4
14
1334
•
.
110
3,100
1,900
Eitingon
1334
15,000
113*4
40
14%
22,100
8
18*4 Apr 30
19%June 27
Preferred
Electric Boat
.3
Deo
Dec
2484 Nov
89i2 Mar
105*4 June
2
Mar
6*4 Mar
458
12*4
Deo
Dec
x95
Nov
70*2 Jan 27
61
June
75
Nov
16
Mar
47
Dec
6
June
65
Mar
6
15
Aug
3
89*4 Apr
6
2234 Mar
52
19
23*8 Feb 20
938 Feb 7
Jan
28
1878
Feb 20
10*2 Dec
5834 Nov
Dec
24*2 Deo
43*2 Jan
19*8 Jan
23*2 Mar
11
.
Mar
Feb 17
65
65
May 12
45
10
3
2
Jan
213s Jan 31
58*4 July 27
40*2 Jan 25
43
Aug 6
34*8 Jan 2
21
Sept«
.
5*8
Feb
5
Deo
Mar
li2
153
130
Deo
Apr
Aug
45
6
Jan
Oct
19
Dec
503s
Apr
Jan
35*2 Aug
26*2 Jan
41
34%
Jan
4U2 May
33
Dec
38*2
Nov
Dec
June 19
?4*s
17*2 Mar
40
29
Jan
6
5*2 Jan 10
58May 20
Us Jan 6
478 July 10
13i2 July
7
Apr 30
100
14
8*2 May
8034 May
47*2 Jan
Mar
793s July 30
6* 3,6 July 30
6
133
5
Deo
15
61%June 4
H78 Jan 23
2
784 Apr 28
505s Jan
I)&Co.20
No par
No par
Deo
105*4 Deo
2*8 Deo
37
41% Jan
Feb
(The)
Jan
9*8
38
4034July18
114
Schild
Elec Auto-Lite
Jan
4034 July 18
100
Eaton Mtg Co
9%
39
6
Jan
8
Feb
7
6% non-voting deb..-..-100 129
Duquesne Light 1st pref.-.100 xl llf4 June 12
18
Mar 11
Durham Hosiery Mills pf.100
Eastern Rolling Mills
5
5i2July 1
156
Eastman Kodak (N J)-No par
Apr 28
6% cum preferred
100 152 July 24
34*4
38
38*4
112% 112*4 *112
14
2,100
1
No par
Du P de Nemours(E
9%
23734
1334
158
3,700
100
..100
Preferred-
33%
33%
9%
18
9
9%
17934 182
179*2 179*2
9*8
38*4
9,800
113*2 113%
113%
Duluth S S & Atlantic
Preferred
„
12934 12934
*113
33%
9*4
'
114
9%
33*2
—
~
12934 *129% 12934
179*2
161*4 161*4
.
5*4
14
*13%
*115
*115
;
5*2
5*2
M
Aug
Jan
5*8 July
6
38"
Deo
Mar
6
7
33
May
758 Dec
3978 Mar
1938 Deo
4878 Nov
Mar
Feb
27s July 10
Rights
*34
*1%
113*4 *112*4 113*4 *112*4 113*4
1334
14%
14*8
1334
14*4
For footnotes see page
*23
-No par
No par
1
2*4
161% 161%
34
34*4
3434
*9%
24
Ltd No par
Dixie-Vortex Co
*84
1
16434
166*2 167*4
12934 12934 *129%
113% 113*2 *113
18
*12*2
*12%
884
834
9*8
179
178%
179*4
3434
39*4
24
24
*115
*129*2 12934 *129% 12934
*8%
Distil Corp-Seagr's
Class A
56
9%
*23
23*2
*115
500
74*2
*5*2
13%
5634
20
*8%
55*2
9%
..
4034
72%
1%
*112
56
20
9%
534
39
56*2
2134
20
74*2
1%
157
*40
22
72
5*8
9
7,400
4034
20
76*2
5*4
*12*2
22%
*40
57
2*4
*179
Participating pref erred ...2 5
75
9*4
78*2
6"l6
39%
*5
165
700
-
"266
55*4
56*2
9*4
5734
*1%
*113
2,400
-
6934 Deo
783s July
165
73
Mar
Jan 10
33
_
Deo
Nov
40*2
9
26
,42
42*2
«
Dea
234 Nov
Jan 21
90
31
June 12
33
18
447s
35
48
1
7
2
4
99*4 Nov
100
47*2 Apr
9
Jan
Jan
Dec
Jan
14
9*4 Mar 11
21*8 Mar
Oct
Dec
74*2 Mar
3i2 Mar
4412 Jan 14
24*4 Apr 13
Aug
Dec
Deo
13s NOV
20*2 Dec
Jan
43i2
6
Apr 28
Jan 20
Apr 30
13
,42*2
21%
19i2
3634
1478
438
Mar
Deo
Jan
Jan
60
4
14*4 Mar
Deo
Deo
4134 Mar
4
18*2 Feb
63s
12*4
101*8
8*4
69
148*4 Oct
4*8 Mar
3578 Jan
1134 Sept
23i2 Mar
6
278 Feb
Jan
,22*8 Feb
3434 Nov
105*8 Nov
Jan
a4
4
Mar
7*2
Jan
Dec
15*8 Mar
Feb 18
7
Apr 29
43
22
115
74
23*8
1178
178
28% Mar
July 22
1034Ma41
Dec
7
Jan 14
Jan
4
33%
*40
*40
*1%
*115
5*2
33
*20
*20
6
7% Apr 27
43% Jan
80
43
21
22*4
22%
36%May 17
100
Detroit Edison
4234
22%
20*4
4034
*42
6
May 28
Det & Mackinac Ry Co...100
700
34
42%
22%
10i2 Jan
60
May 12
Jan 24
3334
34
*13%
*54%
Jan 15
128
56
42
21
*4%
5*2
7
Det Hillsdale & SWRR Col00
150
*54%
34
*20
*4%
4
27
Corp. 10
100
Delaware & Hudson..
54*2
42*8
*40
*60
*6*4
6*8 Jan
20
Preferred...
Delsel-Wemmer-Gllb
54*4
34%
,22%
500
5% non-cum preferred-.100
Devoe & Raynolds A..No par
Diamond Match
No par
42
20*2
5%
150
10*8 Apr 28
52
18
3334
23*8
22*2
*20
19%
*6%
6*2
151*4 151*2
29
—5
*13%
3434
*40
19
29
138 July 13
..No par
Co
18
43
3434
*42
634
TDU
5*4
29
*60
6%
151% 151%
*60
"
*4%
1834
*6
*148
29
4
Apr 30
95i2 Apr 29
105
1,600
100
Preferred
73*2
*29
7%May
28
109
99i2 Mar 13
47%
*59
Jan 27
No par
10434 105
7%
7*4
1934
20*4
7*4
1
Mar 27
102
70
19%
'*64
102
July
69
63i2 Jan 7
35%May 26
1678June 4
140
20%
*42
70
Feb
Mar
46*4
6234
82%June 18
168*2 Apr 15
738 Mar 6
3 734June 19
31J2 July 28
G384 Apr 15
477g Apr 28
47% July 30
300 Cudahy Packing
50
11,800 Curtis Pub Co (The)..-No par
38*2
*18%
68
20
934
95
20*8
19%
12*4
95
19%
*64
*11%
9*2
9%
Preferred
....,..---100
400 Cuba Co (The).
No par
160 Cuba RR 6% pref
100
10
3,600 Cuban-American Sugar
1%
96
68
20*8
1*2
95%
7
No par
$2.25 conv pref w w.No par
Cr W'mette Pap 1st pf.No par
400
Jan 14
par
9
10634 108
162
jtar
38
38%
106% 106*2
19*4
60
*109
9
8%
68
1934
47%
109
36
*64
1834
100
Preferred..
•'
*1%
104% 104%
7*4
47*4
109
July
55*4 Apr 30
52.70 preferred....
47
82
80
Mar 20
6638 July 30
July
68*2 Sept
11*4 Nov
Oct
4*2 Mar
% Apr
Feb 11
4
par
21*2 Nov
49
Nov
22
_
38*2 Feb 11
46
Apr 8
Corn Exch Bank Trust Co.20
Deo
Mar
38 Aug
20*2 Apr 17
26*4 Mar
19i8Mar
234 Feb 21
87*2 Aug 7
87*4 Jan 13
243g Mar
6
160
Oct
11
4584 Nov
Mar
72*8 Feb
H2 Mar
6*2 Mar
100*? Dec
2*2 Jan
106*8 June 30
11*2 Feb 5
1% Jan 16
43s Apr 18
28%June
*160
*105
—
35i2 Apr 30
2i8 Apr 30
2,400 Continental Steel Corp.No
71
Nov
3*4 May
14*4 May
157a Feb
7*8 Feb
20*8 Feb
4334 July 28
109
July 14
6*8 Feb 10
15*4 Mar 6
1
10,100 Corn Products Refining....25
Oct
Jan
Nov
62
5
33*4
3
69
Jan
Continental Oil of Del
67
69
2358
7
Continental Motors
2.50
105
24
66,200
3%
45*2
47*8
*104
20
Feb
1458 Nov
15,500
3
30
'
59
Continental Can Inc
Jan
Mar
9
33*2 Jan
133s Jan
378 Apr 28
11% Apr 30
101
27
2534 Mar
5
87
*85%
Jan
578 Mar
8
2*8
8684
30
29i8
16
2%
*45*8
Feb
12*4 Feb
44i2 Jan
100
1,400
5
34 Mar
No par
Preferred
Consolidated Cigar
16%
36*2
30*4
.72
Aug
115i2 Jan
Jan
16%
5
"56*4 Feb
110*4 Dec
9778 July
16*2 Oct
8234May
119*2 Aug
May
*16
*36%
Oct
Oct
Oct
10
16*2
163
58
110
16
16*2
*160
Dec
par
17
31%
Dec
83
~
Aug
July
1634
3*8
90*2
100
July
17*2
30
35i2 Mar
31
Mar
39l2 Jan
107*4 July
6
122
17%
3%
Deo
100
1,300
Deo
Dec
Connecticut Ry & Ltg
56,200
21
17*2 Deo
101*4 Nov
1534
123
17*4'
3*4
Jan
60
9
17
2%
Feb
6% Mar
Jan
Dec
4978
9
13,400
2*4
30*4
7
7
5i2
29
22i2 Dec
33s Mar
Jan 10
14
*39
Feb
40*4 Dec
48*2 Dec
Jan
21*2
*20*8
Mar
9% Nov
April
2:4512 Jan 22
51*4 Jan 23
1105s Jan
$4.25conv pi ser of '35No par
Commercial Solvents.-No par
14
86
Dec
i2 Mar
134
Comm'l Invest Trust—No par
Conv preferred
No par
21*4
10*4
87*2
Dec
Jan
5
7358 Aug
13%
*86
Dec
50
109
107*2 Aug
22%
87%
107*4
3078 Aug
1,600
1,100
34,900
17*4
Deo
Dec
23% July 28
May 20
42i2May 26
90% Jan
8084 Jan
21
Jan
1034
4
Mar
Dec
5858
Mar
684
123*2 July
2%
2*8
14
.
7
13%
2
31
36
May
93
9
Jan 11
9
2134
2*8
Jan
Jan
Dec
6934 Mar
36*4 Feb 20
3778Mar 11
8
"
2
16
94
126
Deo
June
101
938 Feb 19
49
May
21i2 Jan
19i8 Jan
Jan
14%
22%
2*8
35s Mar 16
24
Apr
15*8 June
Jan 15
Jan
20
2*8
Aug
72*2 Nov
5338
55*2 July 31
44
14%
20*8
3
110
100% July
20
*234
14%
July 28
110
20*4
234
52'4
100
20
14%
48
July
100
15
3
4812
June
...10
20*4
15
27% July
48
20
2834 July 20
8*4 Jan
6*2 Nov
7
Feb 20
preferred
15
3
2
Mar
conv pref
5H%
4)4%
20*4
*14%
46
par
.
43
42%
42%
107*4 107*4 *107% 10734
5%
5%
5%
*5*4
12%
12*2
12*4
12%
to
%
June 30
100
preferred
Commercial Credit
110
X42%
434
70*2 Feb
7
Congoleum-Nairn Inc..No
Congress Cigar
No
91
17
50
Apr 28
100
74%
78
74%
78
74%
*7734
*70*2
*77*4
*70*2
78
*70*2
77%
74%
78
*75
41%
100
720
934
Mar 30
160
18
9%
4% 1st preferred
4% 2d preferred
3,600
16*4
15%
3*2
7
100
m'm.
117
'v
..100
100
•
117
;5
Preferred
100
12
24
26
tColorado Fuel & Iron.No par
Colorado & Southern
5%
107*2
July
48
112
160
73%
33
48
39i2 Apr 30
107*4 Jan
10634 10634
107
2758 Deo
93% Deo
2478 May
May
100
111
102%May 19
100
Colonial Beacon Oil...No par
Preferred series A...
73*2
12*4 May
7
100
600
10634 107
78*2
78*4
46*8 Mar 24
July 30
Jan
2334 Jan 21
107% Jan 4
.No par
Columbia Gas & Elec__ Aro par
w-.-.
-
10534 107
Oct
13
200
100
Mar
12
6934 Sept
3*4 Apr
No par
50,400
100
31
197s Feb 14
86*2 Feb 19
73s Mar 5
Jan 21
122*4 July 31
577sJune 5
20*2 Jan 6
106*2 Feb 28
46
99% 100
124% July 27
Dec
Jan
129
22%
107
Nov
Jan 31
46
38*4
Dec
26
Jan 15
22
38
9
Feb
84
22%
38
37*4
*45
31s4
9
124
Columbian Carbon v.to No par
Col Pict Corp v t c
No par
$2.75 conv pref
No par
1,900
2,900
Sept
3*2 Mar
Jan
55% Jan 16
Preferred
1,240
25
Mar 25
100
6% preferred
Collins & Aikman
29%
12834 130%
128%
85*2
15%
7278
434
No par
4634
127
100
72%
31
28*2
*28%
"__5
".No par
Colgate-Palmolive-Peet
600
30*2
6*8
2.5
Class A—
20
*11012 112
28i4
6
14*2
June 12
par
400
1438
20
30*4 Jan 6
1134 Jan 24
.....No par
Preferred
57*2
$ per share
35
Coca-Cola Co (The)..-No
par
118
$ per share
Jan
T.eoo
1,300
$ per share
Jan
—......100
Equipment
Highest
$ per share
7
90
100
Lowest
25
1,100
::
-
Chrysler Corp
City Ice & Fuel
1,700
*5612
14l2
10
5034
117
57
Year 1935
Highest
oar
5984
5884
Range for Previous
of 100-share Lots
25
No
Preferred.
City Stores
30*2
77%
78*2
117
116% 117%
116% 116% *11634 117*4
16*4
15%
1634
16*2
3%
334
334
3%
17%
334
22%
-
250
28%
6*8
116
118
16*2
3%
46*2
L
2,000
28
105% 10534
7734
78*2
77% 78
116% 11634
117*2 117*2
*116
105
53,706
*129
117
Cotton Oil
Chile Copper Co......
32
*28*2
29%
12734 129
*3734
38*4
•*45
4634
2*1% 22%
106% 107
106% 106*4
a99%
99*2
72%
7184
m
105
Chi Ida Co
29
6*8
38%
22
99*2
72%
Chickasha
*30%
28
38
~
....
6*4
36%
.
...
29
31
126*2 12634
300
Clev El Ilium Co pref. .No
par
Clev Graph Bronze Co (The) 1
Clev & Pitts RR Co special 50
Cluett Peabody & Co..No
*47
,5812
Par
1,300
--
50
On Basis
Lowest
Shares
S per share
...
6*8
29%
29
*30
7
•
....
Range Since Jan. 1
STOCK
EXCHANGE
■
Week'
*2312
24%
♦23&S 24%
24i4
2414
8i4
*8%
8*2
834
8*2
36'4 *3H2 36
*31%
36
*3H4 36
119
II6I4 11878
11834 12078
1165s 118*2
1758
17%
1714
17i2
17*8
17*8
17*8
84
83%
84
84
8412
83l2
84
65s
6i8
6I4
6%
6i8
634
6%
3134
3134
32
3134
3234
*3134 32
11034 *110
*11014
►llOU
37l2
36*4 3612
3578
36*2
3614 36%
59
58
58
571g 57*2
58%
58l8
5812
13412 *129
*129
13412 *129
'129
11834 119i2 1173s 121
11712 119
115
116*2 119
5612
56i2
56i2
56j2
*5612
5734
5612
56i2 *5612
14%
1478
143s
14'8
14*8
14% xl4%
14%
1414
*1035s 104
104
104
10334 104
*103% 104
10312
5412
55%
52
54%
55i2
5314
54
53%
5234
*110
112
112
110i2 110i2 *110
110l2 110% ►110'%
27
27
*27% 28*4
*2734 2812
2734 2734
*2758
6
Aug.
S per share
*58
*129
the
Friday
25
50
5034
§
Thursday
875
28i2 Jan
6
534 Apr 28
30*4 Apr 27
110*4 Jan 23
10
Apr 30
Jan
634 May
44% Deo
1258 Jan
5838 Dec
"32"
Nov
7
13*2 Mar
7
134 Jan 15
63s Mar
i4 June
1
Deo
Jan 15
14 June
]3g
Deo
June
8*4
Aug
25*4 Aug
3
2
8*4 Mar
18*4 Jan 17
11534 July 28
16734 July 29
13318 Apr 1
11534 Feb 14
25
Jan 13
978 Feb 11
182
Aug
166
Mar 13
37
Apr
7
6
10*4 July 20
44% Feb 19
Feb
6
173s Feb
4
114
1234 May
103
Mar
86% Mar
17*2
Deo
Deo
19
Aug
116
Nov
146*2 Nov
12678
Feb
132
Oct
104
Feb
115
Aug
12
Nov
334 Mar
110*2 Jan
141
Jan
165s
Jan
3*4 Mar
1938June
107
Jan
37s Mar
27*2
Deo
8
Jan
172*4 Nov
164
July
3058 Oct
83s Nov
38»4 Oct
113*2 Sept
1434
Deo
New York Stock Record—Continued—Page 5
876
LOW
AND
SALE PRICES—PER
HIGH
SHARE,
f(YT
Aug
.
1
Aug
16%
7934
4534
*%
34
134
Aug. 5
$ per share
$ per share
5%
5%
16%
1634
16%
79
80
77%
5%
16%
78%
5%
16%
NEW
5%
5%
16%
48
*73%
7434
72%
73%
45%
*5ft
4534
v&h
48%
47
34
34
134
*1*4
2%
*%
*184
55%
112%
13% 137g
*55%
%
.
Week
$ per share
Shares
6
5%
5%
157ft
16%
5%
16%
77%
76
77%
70%
7434
70%
72
467ft
**
%
16%
76%
48
477ft
%
48%
34
*78
82%
*75
82%
*80
90
*80
90
*83
6
6
*13%
1334
♦70
80
*70
79
15%
25
1534
*26
*6%
*2%
*12%
*51%
*150
m
24%
1534
16
16%
16%
-
27
26%
14%
26%
1434
26%
6
67ft
3
6%
12%
51%
*153
160
44
45
9,800
12,700
16%
17
16%
6%
,18
27ft
12%
51%
51
*150
160
6%
2%
12%
513ft
*152
160
"V200
45
45%
24
237ft
25
2,700
99
99
99
10
*38
40
*38
40
*38
40
*38
40
*38
40
*85
89
86%
♦84
90
*84
90
4%
5
367ft
5%
367g
42%
43
5%
35%
43
5%
357ft
43
•'».
*34
*33 %
5
*34
43
43
87g
8%
4%
37g
5%
3434
43%
,,
5%
43
3,500
600
5%
4,600
35
42%
*33%
""206
4
35
4234
500
1,800
*38%
*70
39
395ft
73
255ft
*120
*55%
375ft
5%
13%
115ft
101
73
*69
26
135
39%
25%
*120
6134
253ft
135
6134
375ft
5%
14%
*55%
*375g
55ft
14%
38%
534
117ft
1134
117fi
101
15
*100% 102
55%
2384
55%
2334
55
55%
24
24
117ft
12%
12
12
*140
;/:•
734
13%
32
*100
56%
*146
43%
373ft
2%
*40
49%
150% *140
8
8
13
13%
32
3234
107% *100
106
56%
146%
146
13%
3234
56
54%
146
44
4334
37%
2%
37%
2%
47
44%
37%
2%
*40
47
49%
49%
*50
6034
150%
77ft
517ft
*50
51%
61
60%
*119
107% 107% *105% 108
*105% 109
31
31%
307ft
31%
31%
32%
32%
33%
101
105
101% *101% 10234
10334 10334
10634
39
3834
38% 3834
39%
39%
38%
35%
72
7034
71%
71%
7034
71% 71%
*6534
25% 2534
25% 25%
2534 257ft
2534
25%
*120
*120
135
135
123
*120
123
*120
*5634 6134 *58% 6134 *58% 6134 *58% 6134
38
38
38
38
37% 37%
37%
38^2
5%
6%
6%
7%
6%
7%
6%
67ft
15
15
14
14% 1434
13%
13%
13%
11
1134
11%
11%
1034
11%
11%
11%
*100% 102
*100% 102
*100% 102
100% 100%
55
5434 55%
54% 55%
547ft
54%
56%
25
227ft 23%
23% 2334
227ft 237ft
24%
12
12
12
12
12
12
117ft
117ft
*140
150
150
150% *140
150% *140
150%
8
8
8
9%
8%
8%
9%
§®8
>
13
13
13
14
1234
13%
1334
1334
32
35
32%
32%
35.
32%
32%
36%
*102
*100
105
105
1043ft 104%
105% 106%
53
53
54%
.53%
52% 53%
53%
53%
146
4334
37%
2%
4434
507ft
*32%
44
3734
2%
45
507ft
14%
78
153ft
15%
103
*101
41%
*52%
43ft
7%
13
2234
415ft
5234
4%
7%
13%
23%
*107% 108%
«
237ft
4*94%
9%
*91%
25ft
1*4
*3%
♦18
277ft
39
19%
40%
3534
♦147%
*5314
2834
*76
58
2%
*27
24%
95
9%
93
25ft
1*4
334
19
277ft
3984
19%
40*4
3584
157ft
*32
934
*17%
57ft
113
"2%
24
*35
9%
*911,,
va
*4
2%
*1%
*3%
*18%
24%
41%
187ft
40%
36%
293ft
*55%
287ft
79
*75
59
*14%
46%
*9
*32
9%
*17
*115
102
36%
*124%
14%
14%
107
6%
vo
234
2%
16
46%
57%
2
40
2,200
50
1,130
12,900
35%
24%
34%
14
14%
14
14%
78
77
16%
16%
*7612
16%
101
101
*102
103
33%
----
10%
18%
4%
7%
4%
7%
13
13%
22% 23%
108
1087ft
23% 24
95
96
9
"
9
91 1j
47 A
Oil j
VI *4
234
*4
784
5434
4%
7%
23%
947ft
9%
94
9%
#Q1 1
.
4,200
4%
3,600
7,600
10,500
43,000
8
13%
22%
23%
947ft
9%
1 A
QO
MA
AU
32,700
27ft
1*4
334
18%
284
*1%
3
234
3
1%
500
384
1%
3%
I84
334
18%
3%
1,200
2434
42%
24%
1834
24%
42
19%
41%
*187ft
41%
19
19
417ft
41
3634
35%
36
*148
29%
79%
57%
2%
29%
*55%
28%
*75
57%
2%
29%
*14%
*45%
3434
2834
79%
58
2%
*55%
28%
*75
57%
58
57%
567ft
567ft
129
*118
129
*119
129
33
33
*32
34
*33
34
*33
37
37
*36
36
36
*27
15%
*15
*27
15%
47
July
30
111
70
11212 June
125
Nov
55
Deo
Jan
42% Apr 30
July
10®4 Apr 28
Jan 23
7%July
534 Jan
18% Jan 27
1212 Feb 19
104i2 Apr 21
63
Feb
150i8 July 29
1134 Jan 11
15% Feb 11
3612 Aug
IO6I2 July 30
Jan
70i2 Jan
59%June 20
5212 Aug
Jan 21
<.14634 July 27
66 preferred
No par
Gen Public Service
No par
Signal—No par
100
...
Gen Realty & Utilities
1
$6 preferred
.No par
General Refractories...No par
.No par
100
GUdden Co (The)
2
38
Feb 17
57i2 Aug
105
Jan 17
110
3i2 Apr 28
32% Apr 28
50
106
Jan 10
2
Apr
26%May
33I4 Apr
32i2 Apr
17
July
3018 July
28
26
30
30
6
7
13%June 25
274
June 30
684 Jan
69
Jan
6
6
3934June 11
5212 July 6
37g Jan 2
67s June 30
1284 July 7
13% Jan 21
100
Goodyear Tire & Rubb.No
par
1st preferred.
No par
Gotham Silk Hose..—No par
Preferred
June 20
Feb
II8I2 Mar 14
378 Jan 21
43
Feb 21
7
IO414 Aug 7
55,14 Jan 14
712 Feb 28
IOI4 Feb 17
213ft Jan 6
2378 Apr 15
100
50
18%
200
117
30
102%
70
39%
2,300
126
100
15
1,500
107%
50
5%
7,100
7% preferred class A
26
Hall Printing
10
Hamilton Watch Co...No par
Preferred
100
Hanna (M A) Co $5 pf.No par
Harbison-Walk Refrao.No
Preferred
par
Jan
6
16
July
96
3
June 30
412 Feb 19
11% Mar 20
50lg Mar 9
22
Apr 28
66 May 21
4884May 11
158July 7
Jan 15
Apr
2
7
Feb 19
Aug
9
14714 July 29
56
Aug 3
297ft July 28
Jan 23
8OI4 Jan 27
3i2 Feb 7
Mar 19
15®4 Mar
Apr
2% Apr
20
Apr
1% June
514 Mar
2% Mar
143ft May
18% M ar
26
Mar
85
Jan
Dec
4% Oct
3% Nov
5
Jan
29*4
Jan
353ft Nov
38% Sept
Dec
26%
Jan
119
Jan
21
Apr
25% Nov
34
Feb
6% July
1
Feb
19
Feb
4
Mar
6
Apr
12
Mar
Jan 24
118
Mar
6
48
Mar
3414 July
37
2
Jan
10% Deo
Deo
7
Jan
Dee
16
3
14
92
35%
4
9
267ft
95ft Mar
Aug
4
Nov
14% Dec
914 Mar
Mar
347ft May
140
50
May
Dec
28% Dec
95
74%
234
43%
11%
34%
33%
108
Dec
Nov
May
May
Dec
Dec
Nov
Dec
3
21U
Jan
30*4
Dec
Aug
4
30
Jan
35
Deo
IU2 Apr
213ft Feb
6
4
4
Mar
8
Feb
8
119
6% Apr
63
Jan
Oct
14% Nov
112
Dec
105
Nov
109
May 19
100
June 22
10512 Mar 18
3
3
415ft Apr 1
126
Apr 23
99%
Jan
121
Jan 20
163ft Mar 25
5%
Feb
14% Dec
113% Deo
6% Oct
30ift Jan
Hat Corp of America cl A....1
12
2
22
82
Mar
19«4 Mar
Jan
Aug
""4% *jan
61
Jan
Nov
19% Aug
93
14% May
7% Mar
55
June 10
51
Feb
2
2
7
6
Oct
3% Dec
39% Deo
331ft Dec
lis Apr
914 Jan
30i2 Jan
28% Jan
33
109
Deo
235ft
39
30
Oct
4% Nov
41%
884 Deo
7534 Dec
49% Deo
7
105
109
Mar
July
24
120
100
63ft Jan 15
95
Dec
42% Nov
18
12is Mar 11
100
6H% preferred
Hayes Body Corp
Jan
701ft Jan
218 Mar
8% Apr 28
Mar
6,000
Jan
Apr
70
39
34
Jan
1434 Mar
July25
317ft Apr 15
111
6
"9%
80
9934 Feb 17
Jan
6
7
30
93i2
6%
July 27
55
Jan
100
Deo
Mar
Jan 24
Jan
.100
Nov
21
Aug
12
185s Jan 16
31
Gulf Mobile & Northern
120
Mar
Apr
136
Gulf States Steel..!—.No par
Preferred
.100
Hackensack Water
.....26
Jan
10
14
Great Western Sugar—No par
Greyhound Corp (The)
6
Guantanamo Sugar... .No par
Preferred
100
Feb
*10712
8
2
Greene Cananea Copper... 100
18
Aug
Aug
72% Oct
116
Jan *120% Deo
265ft Mar
593g Nov
2
Jan
Aug
Apr
Jan
597ft
1634
7
3
3678 July 25
1678 Aug
NoV
July
18
441ft Apr
90
407ft
377ft
1%
15%
Oct
1534
Nov
6 % July
145% Oct
Mar
21% July
Graham-Paige Motors.
1
Gr'by Con M S & P 2d stpd 100
1
Feb
63ft Nov
8
87
77
Grand Union Co tr ctfs
Jan
Sept
40
78
100
Preferred
4612 Nov
12712 Jan
6012 Feb
2578 Aug
Preferred
..100
Green Bay & West RR Co. 100
Green (H L) Co Inc
...1
500
76
Us Mar
155ft Mar
63ft Feb
20
1,000
18% Nov
Mar
175ft Feb
4,100
3,500
Mar
3
834 Mar
60
Preferred
6
121%May 13
723s July 27
12234 July
4178 July28
634 Jan ,3
No par
434% conv preferred
Gobel (Adolf)
Goebel Brewing Co
1
Gold Dust Corp v t c._.No par
Goodrich Co (B F)
No par
Feb 24
Oct
Aug
103ft Nov
Mar
55
6
146
4
3
Jan 27
*133ft
2
19i2 Jan
117i2 Jan 13
13% Dec
107ft Dec
100% Sept
48lft Deo
22% Nov
19
58
35%
61
567ft
*119
129
Jan
5U Mar
No par
.100
Feb 21
150
115
No par
70i2 Jan
Jan
11
27
44
1,800
Mar
512 Mar
5178 Aug
6
7",600
7
8434
14
2
61
5% Nov
49
July 29
30% Nov
4.% Deo
3
July
Deo
Nov
434 Mar
43g Feb
Jan
2%
297ft
157ft
4734
Mar
325ft Mar
1134 M ar
73g Mar
3434 Feb
1438 Jan
32U Jan
787ft
15
Dec
36% Nov
7g May
No par
Gt Nor Iron Ore Prop.No par
13,000
Dec
Dec
97g Mar
Great Northern pref—...100
29%
Dec
Jan
Dec
Aug
1984 Mar
30U Apr
17U Mar
Grant (W T)
60
63ft
934
3
General Printing Ink..No par
July
214 Mar
20U Jan
7% Aug
lli2May 11
8i2May 20
185s Jan
Sept
6038 Mar
334 Jan
5378 Jan
25
114
Feb 17
23i2 July 15
Apr 14
118i2June ~ *135
75
Feb 20
473s Jan 17
5312 Feb 29
3U2 Apr 30
118
Aug
45U Dec
Feb
19
Jan
10
Jan
3ig Aug
25
3984 July 29
77i2 Feb
355a Feb
127
2,000
*36
934
30
2%
111% Apr 21
3834 Feb 17
6
812 Dec
4%
2512
I027t
5878
303g
Jan
..No par
Preferred...
1137ft Apr
331ft Feb
105i2 July
4884June
8,600
35
46%
15
46%
58%
2%
Jan
4912 Feb 14
34
July 29
161ft Mar
281ft Mar
16
Apr
106U Mar
131ft May
84i2 Apr
443g NOV
19
66 preferred
No par
Gen Outdoor Adv A—No par
Preferred.
30
27
384 Mar
2
July
78 Feb
14
.No par
Preferred
Common..
55s July 24
3734 July 28
34,300
600
*148
*75
May
19%
4384
19
42%
29
95
28
54
_
4234
42
287ft
787ft
Mar
12% Mar
578 Mar
235ft
3512
4234
20i2
19%
42%
*55%
101
Conv pref series....—.No par
Granite City Steel
No par
42%
35%
30
30
General Motors Corp
Gen Railway
Nov
Aug
Apr
20i2
Conv pref series A...No par
67 pref class A
$8 pref class A
General Mills
"215*
72
107i2July 30
24is Apr 30
140
Deo
Deo
*85
June 26
17
15
391ft Dec
125
Jan
4is Jan
141
Mar
Nov
35g Dec
Apr
Apr
Apr 30
2612 Mar 21
21
"538
Dec
6
48
40
97
Jan
Dec
Aug
40
22
11
17
23
325s July 31
11*4 Mar
4712 Mar
63
Mar
Nov
401ft
Aug
22478 Jan
100i2 Feb 26
32
4
17
115
•
4
Dec
Mar
697s Mar
73s Jan
3
Apr
212 Jan
20% Jan
38
Apr
20U Jan
110
16018 July 25
4734 July 18
25
Apr
2,200
18%
26
Vo"
Dec
5ft Mar
13s July 6
318 Apr 30
16
Apr 29
2412 Aug 4
28i2 Jan 16
25
*148
Vo""
sl8%
48
For footnotes see pave 872
800
1%
57
9%
2,300
17,000
1,200
*3%
18%
2434
4134
57
14%
*45
900
1%
9%
9%
9%
934
934
*17
*17
18%
18%
18%
*17
18%
118
115
115
♦111
117
*111
*114% 118
102
102% 102% *102% 105
102% 102%
102%
37
37
37
38
37%
37%
373ft 37%
*1247ft
125
*1247g
*1247ft
14%
14%
1434
14%
1434 "1434
14%
1434
107
107
107% *106
107% *106
107% 107%
6
6%
57ft
5%
53ft
5«4
5%
5%
42%
5434
107% 107%
23%
Jan
1912
13ift
8534
147ft
5'#2;;/;;;Apr
43% June 22
600
41%
14
Mar
534 Mar 25
18ig Mar 25
537s Apr
46% Aug
10334 104%
1
Mar
Mar
May
34i2 Apr 30
333s Feb 18
7s Jan
Gen'l Gas & Elec A....No par
GImbel Brothers
384
18%
25%
42%
Vo"
..—100
7% preferred..
Gillette Safety Razor..No par
Conv preferred
No par
22%
no
-
19,900
22%
*-
6
10,200
400
2134
*Q1 1
6
10
167ft
13
^Vll4
Gen Amer Trans Corp
General Asphalt
General Baking
77
13%
23%
947ft
9%
—No par
1,100
13
107% 107%
(The)—No par
Preferred.
Gen Steel Castings pf__No par
Gen Theatres EquipCrpNo par
Gen Time Instru Cotp No par
2%
297ft
15%
46%
*27
10
1,900
200
24
16%
...No par
Gabriel Co (The) cl A..No pat
No par
47%
14%
pref.No par
No par
40
7678
100
Preferred
Fuller (G A) prior
$6 2d pref
General Electric
39
14%
Freeport Texas Co—
7%pfl00
10
General Foods
47%
24%
3534
76%
16%
712 Dec
92
9634 July
10,900
39
*33%
Nov
551ft Nov
99
Jan
SOisJune
76,400
45%
*
*148
29
50
47%
24%
95
7%
2%
F'kin Simon & Co Ino
.
40
23%
55
July 13
1
w w
10
$8 preferred.
No par
;
6
7,700 General Bronze
No par
7,800 General Cable.
Class A.
...No par
7,500
700
7% cum preferred..—-.100
2,800 General Cigar Inc.....No par
36
3934
45%
95
*36
h6
*
30
13%
227ft
108%
23%
56%
*2%
2,500
50
30
133ft
23
23%
108
108%
24%
247ft
95
94%
*9%
9%
93
*91%
234
2%
134
*1%
334
334
1834
1834
25%
2634
*118
107
*28%
23ft
122i2 Jan
31% Feb 24
1884 Apr 30
No Mr
Preferred
Fourth Nat Invest
Gen Amer Investors—.No par
7,800
4,700
150
31
4%
118
102%
36%
113
"2%
53%
118
*102
*
41%
118
10%
18%
2%
31%
*4%
7%
58
33%
113
2%
conv pref.——100
Foster-Wheeler
No par
Gamewell Co
200
_
53%
58
118
*105
103
113
*29
4K%
1,030
•
..
No par
X Follansbee Bros
Food Machinery Corp new..10
4,000
*48
41%
54
*115
36%
*124%
145ft
*101
54
*36
44
53
29
40,200
30
*48
417ft
*75
210
44
*40
48
53
56"
m
*39
44
41%
363ft
mm—
7,500
4%
7%
13%
23%
IO884
24%
i
5,300
'
2
53
357ft
*147%
80
46%
387ft
42
40%
350
2,100
2
4%
41
19,600
38%
53
193ft
40%
20
44
41%
19%
900
2,000
38%
2%
434
73ft
29
48
16%
39%
Florshelm Shoe class A-No par
44%
48
100
700
3778
*39
60
Fidel Phen Fire Ins N Y
First National Stores—No par
43%
2
Federal Water Serv A..No par
Federated Dept Stores.No par
2,000
38
2%
-—100
Preferred
Federal Motor Truck—No par
Federal Screw Works.-No par
Preferred series A—... 100
44%
417ft
5284
2834
79%
5984
2%
*15
14%
7784
157ft
103
41%
5234
4%
7%
13%
56
29
14%
7734
16%
102
2
*146
61
78
15%
60
*46%
*53*4
118
14%
14%
*76%
4334
37%
150
Jan 15
Feb
Aug
814 Mar 19
8I2 Apr 29
3434 Jan
38
1,200
----
.
14%
*76%
*146
150
Feb 15
69
Jan
12
84
;
Firestone Tire & Rubber... 10
54
*32%
*32% 54
*32% "54"
62
607ft 61%
*61% 62%
617ft
1,300
*119
120
30
119% 11934 *119%
*119% 120
6734 687ft
69% 130,400
687ft 69%
6734 68%
68%
122
122
*121
121% 12134 121%122
1217ft
1,000
*36
600
38% *36
39%
*38% 393ft
*3834 39%
8
784
734
7%
77ft
7%
8%
77ft
2,400
*58
200
69% *58
'57%
57%
5634
59%
5634
120
*106% 108
*106% 108
*106% 108
106% 107%
434
484
434
434
434
4%
434
1,900
47ft
39
42
41
38% 39%
4134
9,200
4134
427ft
61
11934
11934 *119
70
68% 6934
69%
*122% 122% 122
12234
40
40
39%
3934
734
734
7%
7%
*57
60
*56% 59%
*106% 108
*106% 108
47g
484
47ft
484
39
3884 39%
39%
*113
*113
117
*113
115
117
*2%
2%
2%
2%
2%
2%
32
*29%
2934 2934 *28% 31%
39
39
395ft 395ft
39%
39
46
47
47%
4634
46%
47%
24% 2484
24%
257ft
24%
25%
36
35
36
357ft
35%
35%
•
*146
19
1134 Jan
68
No par
Preferred
63^% preferred..
-
146
6% conv preferred
100
Fajardo Sug Co of
o Rico_20
Federal Light & Trac— ...16
11", 100
108
108
Co
Fllene's (Wm) Sons Co .No par
*33%
*110% 113
*110% 113
*1105ft 113
*110% 113
*110% 113
*110% 113
27%
2834 29%
,28% 29
27% 28
28% 287ft
277ft
26%
27%
1047ft 105
1047g 105%
10588 105% *105% 105%
105% 105%
105% 105%
45
46
45
45
45
45%
45
45%
4584
457ft
45%
4434
31
31
31
32
31%
3134
*31%
31%
32% *3134
32% 32%
7
7
*6%
67ft
634
67ft
*6%
7%
*65ft
7%
7%
35
*3434
34% 34%
34% 34%
32% 33%
3334 34
33%
34%
*105% 108
*105% 108
30
32
29%
30%
101
104
*100% 10034
Eureka Vacuum Cleaner....6
Federal Min & Smelt Co—100
00
4
34%
42%
00
8%
5%
34
*33%
*33%
5%
8884
87ft
37ft
17% Feb 21
2784 Feb 21
Apr
Apr
Dec
Mar
Fairbanks Morse & Co.No par
44%
87ft
*37ft
5%
3434
16
14ift
15i2
412
7i8
812
684
80
2334
4
11
June 30
73s Feb 21
Sept
8U Nov
Nov
2,400
•
44
4
97
17ft Aug
66
134
50
2%
12%
52
*96%
86%
Jan
514 Apr
DCC
Mar
43s Jan
2% June
99
'
Jan
65
14
Exchange Buffet Corp.No par
Fairbanks Co
26
Preferred
100
24
I 8%
48
84 June 30
89i2June 30
,
60
44
8%
15*8 Apr 17
712 Jan
45i2 Jan
Feb
5884 Nov
78 Jan
5g Apr
5234 Jan
12534 Jan
Us Mar
1,300
44
4
7
6%
24
4
6
15
*96
8%
Feb
Feb
July 22
Mar
U Mar
69i2 Feb
IOI2 Mar
99
87ft
%7ft
69
116
July 27
31®4
212 Mar
39
7
24
89
112
7
5
83ft
712 Aug
345ft Dee
Mar
8
*23%
*85
July 27
55ft Sept
lig Mar
3
15% Aug
*95
40
78
5514 Jan
is* Feb
9
4Q78 Jan
99
*38
July
Jan
24%
:
85
..
100
-
preferred
Second preferred
Firt
734 Feb 21
1784 July 14
2
2912 Jan 2
4238 July 13
i2 Jan 2
112 Jan 4
53i2July 25
100
100
..60
Erie
2
23i8 July
45%
*95.
63$ Jan
~
32®4 Jan
5
26
6%
preferred
Evans ^Products
25
6%
$7
Highest
$ per share % per share
6 per share
6 per share
5U July 28
3,000
26%
T, 200
15%
*2%
12%
Elec & Mua Ind Am shares...
Electric Power & Light.No par
Erie]& Pittsburgh
15
26
160
2,900
*70
15
24%
99
*42%
16%
27%
44%
237ft
5
*154
6%
1534
257ft
14%
12%
5134
*2%
12%
52
15%
25%
*70
6%
12%
52%
13
6%
89%
15%
3
52
160
26
*2%
13
*155
27
*83
25
14%
26%
3
5134
160
14%
684
13
3%
6%
.
....
1434
*6%
'
52
♦2%
157ft
*70
*70
-
14%
89%
*6
15%
25%
16%
15%
24%
♦70
*34
6%
2334
1434
*83
90
6%
578
15%
46%
4%
*83
25%
45%
8%
6
57g
15%
237ft
*95%
.
90
25%
15%
25%
1534
♦70
1434
«
584
15%
Par
No par
$6 preferred
No par
Elec Storage Battery—No par
t Elk Horn Coal Corp. No par
200
6% part preferred
60
60
1,200 Endicott-Johnson Corp
20
5% Pref...
100
700 Engineers Public Serv._
.1
<6 conv preferred
100
No par
300
65M preferred.....-Nopar
$6 preferred
No par
2,800 Equipable Office Bldg. No par
*134 r5;3-V
2%
*1% , 1*4
1%
1%
57
57
56
57
57
55% 56%
112% *112
112% *112
112% *112
112%
14
1334
1334
13%
13%
14%
*13% 14
*70
75
*70
75
79
*70
7434
7434
83
*81
•80% 827ft
83
82% 8234 *81
56
56
112% 112% *112
55%
*112
Year 1935
Lowest
Highest
Lowest
2,000
29,800
3,300
1,400
6,400
-7
400
%
Range for Previous
On Basis of 100-share Lois
STOCK
YORK
EXCHANGE
the
Friday
7
Aug
5 per share
797ft
7434
78
73
76
Aug
Aug. 4
3
5%
55ft
165ft
7984
*74%
453ft
.
S per share
S per share
5%
Tuesday
Monday
Saturdav
Thursday
Wednesday
Range Since Jan. 1
STOCKS
Sales
NOT PER CENT
JUT
1
Aug. 8, 1936
Jan
104is Feb 17
4% Apr 30
115
9
Jan
9
Mar
5
100% Sept
16
81
Mar
Feb
1% Mar
30%
Dec
Dec
Volume 143
New York Stock
LOW AND HIGH
SALE PRICES—PER
SHARE,
NOT PER CENT
Record—Continued—Page
Sales
STOCKS
Range Since Jan. 1
for
Saturday
Aug.
Monday
1
Aug. 3
$ per share
*106
*12512 130
164
164
30
Aug.
$ per share
106
106
10734
*125i2 130
30
*112
Tuesday
*163
30
*95% 105
*125% 130
164
30
114
113%
114
36
36
*112
30%
195s
37
3734
Aug.
5
$ per share
*98
104
Thursday
Aug.
*125% 130
*125% 130
*163
*163
164
31%
30%
31%
30%
*112
*111% 115
129% 129% *126
65
63
63%
61%
112
115
*113% 114%
36%
36%
36%
36%
110
110
110
109%
19
19%
18%
19%
37%
36
3634
36%
115
*64
115
6
$ per share
*99
104
129% 129%
*113%
37
37
36%
110i2 110l2
109%
1914
195s
19%
37
3634 3714
110% 111
19%
164
115
11434
♦1313s I32l2 £131 >#131
64
64
64 ' :64
*112
4
$ per share
164
Wednesday
164
3034
115
131
62
112
37%
Aug.
164
31
3,600
700
7134
1,100
112%
100
*61%
*110
3734
38
110
*109% 110
19
19%
1934
37
37%
37%
*114
115
*114
115
*114
115
*114
*412
*412
430
420
420
420
420
*412
430
425
4012
*40l4
27%
2714
40l2
2778
*40%
4034
40%
2734
26%
68%
9%
80
*7534
80
2634
*7534
693S
914
*6712
9i4
69
68%
9
5014
50i4
50
5038
*314
3i2
1178
175g
*3U
11%
17%
11%
*10
17i2
9
9
2334
*4412
66i2
*15
*95s
29
2
24
235s
*4412
66i2
4512
66i2
1578
1034
29i2
50
3i2
45
45
*67
68
2
*67
68
15
15
15
15%
10
10
20%
29%
9%
29%
103
534
11*4 *1138
*5%
534
13i2
734
13l2
734
14
*1078
1118
3ig
*24
2534
*16014 163
3
3%
161
5212
*7
6%
45
*3%
105s
334
11
45
33g
10%
3%
24%
3
*24%
80
5%
13%
7%
6%
6I4
45
3
25%
24%
161
161
5218
52%
81
*3%
1034
*3
80
3%
11
3%
24
51
24
161
2,700
180
5,100
5,300
""300
Hercules Motors
No par
Hercules Powder...
$7 cum preferred
700
Jan 23
J4n30
Hershey Chocolate
No par
Conv preferred
Holland Furnace
..No par
No par
$5 conv pref
200
17,500
2
2%
24%
2
24%
2%
2534
45%
47
29%
29%
136
136%
3%
10%
3
*23%
160
3%
11
3
68
100
15%
150
10%
400
136
30%
136
10334 105
11
11%
114
414
3
5
544
22% July 2
65% Jan 14
6434June 4
6% Jan 7
4834 Jan 21
33
Mar
76
July 20
700
5%
5%
800
13%
1,300
*634
7%
6%
45%
650
3%
2,500
11%
3%
6,900
3%
10%
*3
24
24
160
160
24
Hudson Motor Car
100
100
.No par
10
110
550
No par
Ingersoll Rand
...No par
Inland Steel
No par
Insuranshares
Ctfs
Inc
.1
t Interboro Rap Tr v t C..100
Internet Rys of Cent Am.. 100
Certificates
No par
Prior preferred
378
378
*5
5
5%
538
514
5%
5058 51%
513g
51%
50%
51%
*12612 12934 *12612 12934 *127
12934 *127
12934 *127
12934
12934 *127
6
6%
65«
6i2
6%
534
6%
6%
5%
5%
5%
6%
*3
*3
3
3
*3
*3%
338
3i4
3%
3%
3%
3%
*2
2i2
258
2i2
2%
2%
2%
2%
2%
2%
2%
2%
43
45
41
42
43% 44%
4134
42%
40%
41%
42%
42%
*39
40
39
40i8 4018
3934
39%
39%
39%
39%
*39% 40
300
1,900
900
26,900
100
26
Int Hydro-El Sys cl A
Int Mercantile Marine-No par
Int Nickel of Canada..No par
Preferred
_3~666
Inter
100
Pap & Pow cl A. .No par
Apr
2
1
10
10
28|
35% Jan
2
56% Jan
8
9% July
2% July
2234 July
148% Jan 23
234 Apr 30
4% Jan 2
43%May
8
125% Feb 6
334 Apr 30
81*4
118
Jan
July
3034
Deo
6% Mar
11
Jan
19% Dec
22% Deo
July
9
Feb
8
338" "Feb
495
Deo
44% Feb 20
307b Mar
6% Mar
42
31%
July
Deo
49
Jan
73
Nov
1% Mar
7
Nov
4
70% July 25
12% Jan 15
5778 Feb 19
5% Jan 23
17% Feb 6
1984 Mar 6
43
Jan
6038 Dec
234 Feb
6% Mar
6% Mar
5% Jan
1334 Deo
17% Oct
84 Apr
9% Mar
Apr
40
2% Jan
Preferred
Jan
36% Deo
584 Mar
70
9
160
104
6
9
No par
;
100
Deo
73% Apr
Jan
May 12
No par
No par
Intercont'l Rubber.
Interlake Iron
Oct
131
15
4% Jan 2
25%May 21
106 May 12
88% July 7
6% Jan 6
5%June 10
11% Apr 30
334 Jan 7
3
90
Feb
3% Feb 19
287s Feb 19
47
July 27
Jan
International Cement..No par
Internat Harvester
No par
5434
11
Jan
Mar
5
Jan
19% Jan
16,300
55%
2
11
71
122
June
100
Preferred
22,300
5434
1
58
10
>
56%
553g
3%June 10
8% Apr 27
13%May 4
Leased lines
......100
RR Sec ctfs series A
100
Indian
Int Business Machines-No par
81%
July
39%June
18% Apr 30
1,400
53%
19% Jan 13
30
160%
*154
2
100
1,000 Internet Agrlcul
300
Jan
100
6% pref series A
7,800 Inspiration Cons Copper.-.20
13%
6%
45%
Hudson & Manhattan
Preferred
Refining
3,600 Industrial Rayon
2,000
5
Feb 17
5,500 Hupp Motor Car Corp
20,300 Illinois Central
45
15%
Feb
4478 Feb 19
112% June 30
£207g July 29
3784 Aug 1
108
par
No par
Class B
17%
*934
2934
June
9
Houdallle-Hershey cl A No
3%
1134
*66
162
...100
7% pref
Homestake Mining
17
9%
Jan
No par
100
Holly Sugar Corp
3%
1134
15
June
142%
Jan 13
119
2
June 13
Dec
141
5
3%
68
July 31
30% Jan
120
Jan
108
Hollander & Sons (A)
17%
9%
112
Jan
1
3534 Jan 2
115% July 15
135
Apr 17
6
share
85
127
Aug
80
61% Aug
per
6
Mar
jvo par
11%
15
164
84
3%
*67
150% July 8
25% Apr 30
Highest
!
Jan 27
133
141
Aug
128
17
1,300
3
May 14
100
*934
23%
44%
% per share
.No par
100 Household Fin partlc
pf
50
Class A............No par
I,200
31,300 Houston Oil of Tex v t c new 25
Howe Sound Co
4,900
5
7534
$ per share
106
600
69
10
51%
$ per share
117
14,800
7534
Year 1935
Lowest
25
26%
*67%
9%
50%
of 100-share Lots
Highest
I25
ioo
Preferred
40%
78
9%
52%
Hazel-Atlas Glass Co
83
82%
8134
81% 82%
157%
157% *155
157% *155
3%
3%
3%
3%
3%
3%
6
*5
5%
5%
5%
5%
51
5034
51%
50% 50%
50%
53%
8234
158I2 158% £157% 157%
3i2
334
334
358
134
160
161
52%
79i8
*156i4 159
15%
9%
2934
425
.
69
*102
104
102% 103
10%
10%
10%
11%
*5%
5%
5%
5%
14
14
13%
13%
7
634
634
634
6%
6%
6%
6%
44
45
45
4434
11
*5%
13%
734
6%
44%
3%
10i2
4
11
14
*7
65s
46
134
135% 135%
102% 103
103
113s
534
79
44%
lOSg
30
102
52%
23%
3%
11%
17%
2%
24%
1634
*95s
135
*334
9
15
102
658
69
9%
51
2%
24%
2
6612
*7534
6934
*10
11%
17%
23%
44%
4512
26%
50
115
40
26%
834
50%
3%
17%
218
24
78
40%
26%
69
50%
*10
1778
*131
45
*7534
40%
3%
938
2934
13434 13434
*11
78
40%
27
Par
...
HelmeCG W)
30
31%
115
430
100
113% 113%
13034
*126
*113
26l4
*75i2
69i4
Shares
*12534 130
164
On Basis
Lowest
„
104
Range for Previous
EXCHANGE
Week
7
$ per share
*100
*11214 115
*40
NEW YORK STOCK
the
Friday
877
6
Feb 18
18% Feb 24
13% Apr 17
34% Apr 7
147
Feb 14
114%
1334
77g
18%
Feb 20
Apr 13
Jan 18
Jan 11
8%June 26
7
Mar
4% Mar
2% Mar
23% May
60% Mar
46% Mar
2% Feb
4
Mar
834 Mar
2
Oct
3%
Jan
22% Deo
38% Dec
59% Deo
15
Deo
5% Deo
3638 Oot
121
Nov
108
Nov
8%
Oct
7%
Deo
23% Sept
43a Jan
5
July 31
134
Oct
46% July 31
5% Feb 14
9%
1%
4%
2%
May
May
Mar
July
20% Deo
June
4234 Jan
190% Deo
1584 Mar
4
5% Mar 11
41
Mar 23
185% April
56% Aug 7
90%June 12
Apr 3
5% Jan 8
160
26
149%
Jan
2278 Mar
34% Mar
135
Jan
Feb 21
1% Mar
1% June
54% Feb 19
129% Mar 2
7% Feb 8
22% Jan
123% July
1% Mar
Mar 18
% July
%May
4% Mar
8
3
Jan
Jan
1338 Deo
5
Jan
36% Nov
65% Nov
154
Deo
484 Aug
Oct
47% Deo
130% Nov
6%
5
Deo
3%
23g
28%
42*4
Deo
'
110
110
111
110
*2734
28l2
*2734
49%
49%
28
*110
111
4938
17
*110
2734
*27%
28
50
2734
*49%
16%
62%
49%
16%
62%
*1714
18i8
*62
67
125s
*21--%
*9734
1278
1278
21%
213g
*20
20%
*20
21
*20
20%
*2514
26
*255g
26
*25%
26
98
*123
85%
117
97
*42
42
*23%
25
*93%
24i4
2114
21
*95%
44
1978
*25%
*3%
e
*16
16%
*62
67
13%
21%
9734
*123
*85
8512
118
123
87
24
25%
24
2578
24
2634
94
94
*9314
24l2
2134
2II4
23% 24
21% 2134
205s
21%
97% 101
44%
44%
19%
1934
27
*25%
97%
4414
1978
27
4
4%
31%
27%
*5%
21%
44%
24
24
26%
26%
*93
103
6
94
84% 84%
11534 119%
122% 122%
88
8834
22
22%
4434
*23%
26%
45%
24
*24
26%
93%
26%
*93%
4334
44
43%
44
1934
1934
20
21%
*26
27%
4%
.27
27
4
4%
32
32%
27%
27%
102% 103
*534
6
21%
*27%
21%
29
110
*4
*32%
27
102% 103% *103
6
6
*534
*85
110
*70
73
29
47
48%
*45
48
17%
1734
17%
17%
17
17%
17
*11
*11
11
13
1234
11%
1234
*2158
2178
2158
22%
22%
23
23
24%
65l4
9i2
*265s
16
16
16%
59%
59
60%
67
67
67%
934
27
*106i2 109
10914 10914
168
*165
97S
10%
*2634 27
*107% 109
109
*165
109%
168
*103
*165
168
*19%
20%
30%
31%
31%
31%
31%
44l2
4478
405s
5314
44%
44%
40
40%
53%
54%
30%
44%
39%
54%
3714
*4534
46
*11%
12l2
4612
*2
*12
47
2l4
12l2
May 20
18
June
4
1434 Jan
2
21%
4%
32%
1234
24%
21
*97
30
21%
10034
44% 44%
21
21%
27
4%
27
434
32%
28%
103%
6%
34%
28%
102% 103%
*5%
6%
110
*86
75
21%
17%
1134
28
7134
£21%
27%
*45
17%
*11
50
17%
1134
25%
2534
45
40
55%
*165
168
20
20
*165
19%
144
31
32%
26%
27%
90
91
27%
27%
36%
36%
*130
*130
*130
37
37%
37
38%
37
*143
32
19%
145
34%
Kimberly-Clark...
Kinney Co
.No
No par
±
Preferred
Kresge
21,900
50
13,500
3,100
900
1,700
2,600
3,300
23,700
18,900
par
No par
(S S) Co
„
10
7% preferred
100
Stores..*.-No par
Kresge Dept
100
Co
Kroger Groc & Bak
-No par
No par
Kress (S H) &
Lacelde Gas Lt Co St Louis 100
100
5% preferred
Lambert Co (The)
Lane Bryant.'
No par
...No par
5
Lee Rubber & Tire
Lehigh Portland Cement...25
4% conv preferred.
Lehigh Valley RR...
Lehigh Valley Coal
100
60
No par
50
Preferred
Lehman Corp (The)—No par
Lehn & Fink Prod Corp
5
Lerner Stores Corp..—No par
Llbbey Owens Ford Gl.No par
Libby McNeill & Llbby No par
5
7
4
7
378May 11
30
Apr 28
20% Apr 28
10134 July 1
4% Apr 29
7478 Feb 26
66
Marie
19%June 30
20% Apr 27
32
June 10
157g July 29
7% Jan 2
12
July 15
15% Apr 30
94% Apr 30
8% Jan 2
2
July
6
9% Apr 29
89 May 11
12
Jan
2
200
9734 Mar 13
97
300
20
7,700
30
760
Preferred
No par
...
No par
Loft Inc
Long Bell Lumber A—.No par
Loose-Wiles Biscuit—
25
100
5% preferred
Lorillard (P) Co.
10
107
May 19
21% Apr 28
..100
142
Jan
7
100
7% preferred
t Louisiana Oil pref
13
Jan
3
20
May
4
1134July 30
16% Mar 17
2534 Aug
105
Aug
14% Mar
4
7
3"734
3734
4534
46
£45%
45%
12
*11%
12
45%
*11%
*45
47
45%
46%
*45
46%
45
47
2%
12%
*2
2%
*2
2%
*2
2%
12%
*11%
38
46%
12
19~605
3,700
Mack Trucks Ino
Madison Sq
~i"§66
Gar v 10..No par
Magma Copper
t Manati Sugar.
"""200
No par
Macy (R H) Co Ino...No par
Preferred.
......
—...10
100
100
127% Jan 9
27% Jan 30
40% Apr 30
8% Jan 2
34% Jan 6
1% Jan 2
7% Jan
2
10
21
2%
Mar
Oct
Mar
2
May
42
56%
Mar
19% Mar
6
Oct
May
8% Mar
10% Mar
6
5
Mar
1% Mar
16% Feb
6
5% May
109% July 28
1634 July 15
67% Mar
10% Oct
3
7
21% Mar
115
6
Jan 16
116% Jan 15
6% Sept
21
Mar
Apr
9384 Apr
94%
151%
15%
Jan
Oct
13% Mar
17% Mar
24% Mar
31% Feb
4
108% July 17
102
Feb
3% Feb 11
1
Mar
55% Aug
8% Mar 24
45
Jan 17
112% April
26% Jan 27
151
Jan 30
51%May 25
30
Aug 7
93
July 22
Jan 21
100
30%
6%
41
July
Deo
Nov
Deo
Deo
2784 Nov
113
Apr
6% Nov
130% Mar 16
38% Aug
49% Mar
32% Aug
46
28%
9
Deo
Aug
Jan
Jan
14%
17%
Deo
11%
Jan
Jan
5
Feb 19
6% preferred
1334 Mar
6
35
....
Mar
Feb
42
35
90% Oct
31% Nov
27%
8
10
Jan
3% Mar
12"
May 14
......
MacAndrews & Forbes
6
20% Nov
30
Oct
21%
22% July
Ludlum Steel.
Jan
Mar
33% Jan 31
1
400
1634
34
Deo
50% July 13
2634 Feb 6
3
900
14% Deo'
22
Oct
8
Jan
July
300
Deo
334 Mar
6% Mar
7% Feb
Nov
28
3,000
2,000
Nov
80
39% Feb 21
50% Feb 19
44% Apr 6
-—No par
93
125%
80
3
165% July 16
23% Feb 5
Loew's Inc
Aug
99% Nov
126% Deo
Jan
July 13
77% Jan
2
36
Jan
37
Apr
22% May
90
9
Apr 29
32%June 3
43
Apr 21
104% Feb 28
2
Apr 23
3% Jan 2
40% Mar 13
115% Mar
Nov
103% Apr
19
No par
38% Mar
117% Mar
50
Apr
16
36
120% Apr
110% Feb 10
6% Mar 3
257g Jan
—No par
70% June
6% Mar
24% Oct
1934 Mar
Lima Locomot Works.-No par
Liquid Carbonic
16% &ept
90
Aug
23
Lily Tulip Cud Corp ...No par
Link Belt Co
8% May
6
1,200
2,000
3,400
26,900
Dec
8
""400
--..100 £160%June
Oct
14
Jan
Liggett & Myers Tobacco—25
Series B
25
Preferred
Jan
78
2838 Aug
43
31% Jan 29
May 7
Marl6
28
Dec
28% Nov
18% Jan
60% Aug
70% Aug
11% Jan
25
July
6% Mar
96
4
47% Jan 2
7. May 19
Life Savers Corp
16
56%
10% Aug
38%May
400
Deo
84
Aug
35%
28
*11%
28% Jan
1734June
18% Jan
No par
Keystone Steel & W Co No par
Deo
3
45
July 30
22%June22
29% Apr 24
7% Jan 8
,25% Mar 20
101
35%
*130
11%
Kennecott Copper
July
33% Feb
94% July
28% Jan
24% Jan
2
12
11%
200
1,300
Feb 28
87
24
57% Jan
46
1134
130
7
7
28
25
23
2
2
Louisville <fc Nashville.. ...100
45-%
11%
100
Jan
Kendall Co pt pf ser A .No par
Preferred
4,400
48% Aug
1,900
5,500
*11%
1134
No par
2
5,700
12%
46»4
2%
12%
*11%
Kelvlnator Corp
2
19% Jan
13
90%
46%
For footnotes see page 872
1
Jan
43% July 30
Apr 6
26
Apr 2
121
30
"38%
*2
Class B
Feb 21
Deo
42% Mar
1
85% Aug
110
Deo
36% May
49% Nov
Mar
27%
90%
27%
37%
*2
100
Preferred
Dec
49
Louisville Gas & El A—No par
4534
*11%
45%
500
168
3034
3034
30% 31
3034 3234
44% 45
4434
4434
4434 45%
4834
39%
38%
38%
39% 40
55
54
55
53%
53%
54%
107% 108
*107% 108% *107% 108%
*2%
2%
*2%
2%
*2%
2%
5
*4%
4%
434
4%
5%
42
42
*42
42% 42%
42%
111
111
*111
114
*110% 111
2334 24
23%
23% 23%
r 23%
144
360
6,500
25%
20
570
21%
2734
13
168
1,400
15,300
200
13
20
300
7134
1234
*165
23,400
9,000
110
...
108
108
*107i8 108
*107% 109
218
2%
2i8
2%
2%
2%
478
4%
4%
4%
*45j,
4%
*42
*42
4212 *42
42%
42%
111
111
*110l2 111
*110% 111
24
24i2
2434
24%
24%
24%
*143
145
*143
154
*143i2 145i2
143% 145
32
32
3134
3212
32%
32% 32%
32%
26
26
26
26%
26%
26i2 27
26%
*91
*91
92
92i4
92%
91%
92%
91%
28
27
2714
2734 £27%
27%
275g
27%
*36
36
36
3678
*35% 36% *35% 37%
*130
20
104% 105
*106%
*106%
1334
13%
13% ~13%
13%
13%
14%
2%
2%
2%
2%
2%
2%
2%
2%
*11
11%
11%
11%
*11%
11%
*11%
11%
106
107
10634 *104
_104% 10434
104% 10634
16
16%
16%
16%
*16%
16%
16%
16%
60
58
58
58
58%
58%
58%
58%
67
67%
68%
67%
67%
69%
68%
70%
10
9%
9%
9%
9%
9%
9%
10%
26
25% 25% *26% 26%
*26%' 27%
26%
108% 108% *108% 109
*108% 109
108% 10884
109% 109%
109% 109%, 109% 109%
109% 109%
20%
38"
Kelsey Hayes Wheel conv cl A J
8,700
2,400
13,900
105
*19%
*130
3,500
'
20l2
53
Jan 27
July 31
80
13%
*1978
40i8
17
Kayser (J) & Co
5
Keith-Albee-Orpheum pf.. 100
25
20
50
13
10612
Kaufmann Dept Stores $12.50
4,700
29
11
16
400
27%
*45
13%
13%
2%
25g
U%
1134
106% 106%
24
26%
*27%
11%
105
24
93%
49
13%
13%
*70%
75%May 27
39% July 15
116%June 29
25
Jan
Jan
126% Feb 24
95% Aug 7
*93%
24%
26%
~7~306
10
Jan
110
129
2484
48%
Stove Co.
Kan City P & L pf ser B No par
Kansas City Southern
100
21%
98%
Feb 24
5
4734
Kalamazoo
123
7
24
40,0
21
21
30
27
17
2334 Aug 7
101% July 15
2234 Apr 2
2934 Feb 19
May
88
47
21%
27%
1314
*58
*86
21%
27%
48%
70%
21%
13U
*106
4%
27%
58% Jan 18
29% July
53% Feb
23% Jan
6734 July
19% Feb
12184 Feb
24
21%
10034
43%
44%
20%
21%
27
*26%
32
113
43
20%
33%
Jones & Laugh Steel pref.. 100
2
7
Apr 29
120
*97
27%
1,970
2
Jan
43
21%
70%
21%
*27%
*103
95%
No par
100
.
Preferred..
Jan
15
24% July
*119
20
21%
2714
1378
23g
1134
92%
No par
82
43
2234
21%
1
120
20%
2U8
103
Johns-Manville
60
23
70%
*11
1,000
23
10034
No par
1
5,000
20%
20%
10% Apr 30
122% 123
21
*68
135s
2%
*1158
22%
44%
91%
8
Interstate Dept Stores.No par
Preferred
100
116% 119
84%
June
12% Apr 30
Jewel Tea Inc
23
7012
103
88%
*42%
93%
*97
50
No par
85
22%
*66i2
-
85
115% 115%
122% 122%
*119
200
7% preferred
Inter Telep & Teleg
Preferred
2034
*85
*10i2
*84%
70
46,400
II,400
*122%
*122%
21
21
95
11
123
23%
101
Feb 10
Island Creek Coal
97
23
*85
1714
200
97
2034
20%
*96
111
100
Apr 27
23
Apr 28
47% Jan 2
15
Apr 29
100
Intertype Corp
26
97
93%
23%
4
30%
2634
103
21%
43«4
95
47
100
*25
43
*85
1714
20%
26
120
303s
2678
27%
*102U 102l2
*5i2
6
26i4
*19%
*25
97
*42
30'%
*45
20%
25%
*119
44%
107
International Silver
20%
25%
43
21%
Mar 26
600
2334
88
21%
42%
44
No par
21%
120
42
May 22
International Shoe
21%
87
21%
37
400
21%
*96%
20%
*19%
118% 119%
*122% 123
par
No par
62%
12%
2134
85
20% Apr 30
International Salt..
17
*16%
4
3% Feb 10
45
Aug 3
400
12%
2i%
85
*49
Preferred
62
43
*42
43%
*119
*118% 120
86%
■
4314
86%
120
49%
28%
49%
6
9
100
Corp. .No
16%
21%
123
28
100
Int Printing Ink
17
21
...
28
111
2% Jan
1% Jan
100
Preferred..
12%
13
•
*110
No par
62
1234
97
*27%
111
No par
Class C
1234
133g
97
*110
Class B
62
12%
*123
123
118
*12278 123
87
87k
*118i2
21%
17%
67
*62
111
200
3,500
35,900
1,100
3
4
14% Apr 18
49
July 21
3% Feb 7
17% Feb 7
1% Mar
33
Apr
3% Aug
1534 Nov
95*4 Nov
17% Jan
49% Oct
10% Nov
29% Nov
Aug
Aug
167% May
28*4 Nov
120
122
27% Nov
43
Oct
37% Deo
55% Nov
IO884
2%
Oct
Oct
4%
Deo
41% July
112
Deo
107*4 Nov
26% Nov
18% Mar
124
Apr xl49% Deo
4% June
15
Deo
10% Mar
23
Aug
34
Mar
64
Deo
12*4 Mar
37% Nov
26
Sept
46
Feb
130
May
113
Feb
18% June
30*4 Deo
30% Apr
57% Nov
5% Jan
18% Jan
% Feb
37*4
4
Jan
11%
Deo
Deo
2% May
10
May
New York Stock Record—Continued—Page 7
878
LOW AND HIGH SALE PRICES—PER
SHARE. NOT PER CENT
STOCKS
Sales
ffiT
$
10
IOI4
10%
10%
40
*34
40
34
34
15%
151;
*15*a
16
15%
15%
*1934
201;
19*4
19%
19
35s
1114
3%
312
3%
IDs
11%
11%
*112
13.
1*2
3%
11%
1%
8%
*3%
ID;
*1%
2
*34
8
8
*8
251;
*2312
*3
*22*2
3
47
8
15'%
9%
8»4
34
3484
*32%
15%
19%
3%
11%
*1%
*6%
25
46%
15%
834
15%
15%
*83g
34
8
3
46*4
3h
*46
19
*23
25
*8%
*158
169
*5278
1512
47%
53%
45%
*109
525g
15%
47%
45%
15*2
525,
15%
47
47
46
46
1%
*1%
23%
*6%
*22%
*2%
*2%
3
46%
15%
9%
34%
15%
834
3478
15%
400
20
2,600
1834
400
3%
1,000
37,300
1234
1%
180
9
30
24%
20
3
47
120
47%
1534
15
1,000
160
No par
1034 July 16
3
Apr
t Manhattan Ry 7% guar. 100
Mod 5% guar
100
32i2May 27
14% Apr 30
5714 Jan 10
23% Feb 3
29
Apr
Manhattan Shirt
25
17%May
4
23
Mar 17
10
Mar
Maracaibo Oil Explor
1
Marine Midland Corp (Del) .5
Market Street Ry__100
2U Jan
3
1
Feb
Mandel Bro3
Preferred
Prior
preferred
20
Martin-Parry Corp ....No par
Preferred——
53%
52%
I.534
*15%
16
*4634
16%
*4634
2,200
1,400
47%
15%
47%
16%
*4634
47%
400
Preferred.
*40
50
*45
50
*45
50
100
Preferred
109%
109
109%
109
109
,109
109%
150
31%
*31
31%
31%
17
1634
—100
Prior preferred
*52%
53%
15%
May Department Stores.-.10
Maytag Co..L.
No par
No par
.
ex-warrs—No par
3134
3134
3134
163g
163s
1638
17
*91% 101
31%
1634
17%
*19
31%
31%
31%
1,000
17%
*98% 101
14,800
17
19%
19%
19
19
19
19
19
42
41%
4134
41%
43
4234
42 34
91
91
90%
92
87
85
8734
85%
87%
10%
934
4334
4234
88%
10%
42%
92is
44
44
437g
97S
437g
143g
14l2
*10234 105
*153g
1534
104i2 10412
*79
80
85g
85g
*59
6212
*34
44
44%
*34
37
*34
37
53%
5234
53
52
53
9%
22%
41%
9%
2234
23-%
2234
41
41
40%
9%
23%
42%
42
934
9%
22 58
2212
41
9
9%
125
125
*125
126
125
125
*121
102
102
*100
104
*100
104
*100
85
86
86
284
8412
*106% 108I2
7%
75g
.60
%
1*2
312
3i2
3i2
21
21
*834
9
28%
2918
25g
25g
6
6ig
*2258
9934
23
4518
46
*4578
84%
9934
465g
7058
*67
68
1
1
47%
1
39ig
393g
39
2114
21
I8I4
18*4
18%
88.
32
68
69i2
19
18%
18%
49
24
2434
25*2
16%
2534
16%
I6I4
16*4
1334
1334
7316
3258
3234
3234
*162
*162
26%
2658
143g
35%
283s
283g
*167
-
*143
imim
-
150
117S
12
1%
58
%
66
6612
58l2
5834
118i2 118I2
8
8*s
10%
1078
47%
*32
28%,
143s
5D4
4034
3334
77
*3i2
4
*11
I2I4
*128% 135
1%
*95
33g
8l2
*4i2
*338
1178
6734
*97
1 4
98
'-i
*45%
66%
*45%
67%
67%
1
40
47
»13g
3310
8l2
*105
26
25g
,
*2212
1284
40%
1,800
Copper
•
600
4,000
2,500
3,200
par
z05
Apr
8
106%June 19
6
5714 Jan 17
% jan 7
2034
Mo-Kan-Texas RR
No par
Preferred series A
88
87
87
*87
32
31
31
31
50
'
Conv preferred
Mohawk Carpet Mills
-..100
*49
~
*49
50
27%
26
16%
2678
16%
16%
Monsanto Chem Co
14%
1334
32%
165
253g
25%
■26%
26%
10934 10934
110%
14%
28%
*32
14%
27%
28%
2734
323g
32%
*162
26%
14%
28%
35%
28%
1634
16%
14
14
32%
165
110%
14
14%
28
34%
27%
*167
172
*167
143
143
*141% 143
*1%
**2
67
*1%
*%
67
59
58%
118% 118%
8%
8%
11
10%
48
57%
118
8%
1034
4934
4734
54%
54%
112
*26
1334
77
3*2
11%
*129
.
135
*95
11
48
55
*1%,
47
48
55
5434
51
55%
13%
51%
3934
32%
14
137g
15
15%
52
52
52%
4034
42%
3234
77%
11%
1%
*95
11%
135
1%
97
14%
52%
14%
51%
15%
5134
40
41
3934
41
52%
41%
32
33%
3234
34%
35
36%
75
76%
75%
*3%
76%
77
79
3io
11
135
3%
*3%
3%
11%
*1034
11%
13434 *132
13434
1
1%
1%
1%
11
*132
1%
*95
*10-%
1%
98
*95
3%
334
858
9
4%
7%
4%
834
5
434
434
3%
*3%
69
69
70
97
99
96*2
280
*109%
110
*110% 111
34
33*4
33%
33%
3334
34%
57
*56%
*56
56%
57
56%
9
87g
834
9
834
834
9%
10514 *104% 105% *104% 105
105
105%
34
57
13
For footnotes
26%
27%
52%
2%
26%
52%
52%
2%
2%
13
*22%
12%
41%
see
page
4034
872
26
13
42%
26%
*45
2%
*22%
12%
42
102
110% 110%
33%
56%
8%
105
34
56%
9%
105
*100
27%
52
2%
26%
12%
43
283
*
26%
52%
2%
*22%
12%
43
109
1%
283
480
130
109
1%
285
110% 110%
3334
56%
8%
*105
34%
56%
9
105%
*100
27%
52%
2%
25%
12%
4434
27%
*50
2%
*22%
12%
44
30
53
19i2
Jan
14
Mar
27i2
Jan
6
17i2 Feb 19
155s Mar
30
4
zl06
363g Nov
15818 Dec
23i2 Dec
22i8 Dec
113% Nov
108
Aug
Sept
15% July 27
li2 Mar
23% May
3778 Apr 14
6
45g
Jan
21
May
34i2 Nov
32i2 July
100
77* July 10
—..No par
10%June 18
3234 Apr 29
41
Apr 15
l04%.Apr 7
10% Feb 4
9
Apr 30
—
Natomas Co
Nelsner
Bros
.25
No par
Newberry Co (J J)
.No par
5% preferred series A... 100
t New Orl Tex & Mex. .100
Newport Industries.'.
.1
N Y Air Brake...-- —.No par
New York Central
No par
32% Jan
27% Jan
8
2
1734 Jan
2
36% Jan. 2
N Y Chic & St Louis Co... 100
Preferred series A
100
New York Dock
...100
Preferred
3'« July
119
5()i
IN Y Investors Inc. ..No
par1
Western._.-.100!
1NYNH & Hartford
Conv preferred.
1/
par
7%
Jan
2
preferred
100
No par
No par
1438 Aug
i2 July
1% Feb 11
14 Mar
li2 Nov
34 Nov
8334 Nov
Jan
7
Aug .7
1178 Jan 17
13% Jan 24
51
Aug
59% Jan 3
July45
43
Apr 14
1578 Aug 7
5212 Aug 7
42 >8 Aug
50
North
Central
Northern
50
Pacific.
100
Northwestern Telegraph
50
Norwalk Tire & Rub.-No par
Preferred
,
60
2%
25%
800
13%
45%
58*200
Ohio Oil Co
8,900
Oliver Farm
No par
Eq new. .No
par
7
May 12
Dec
Dec
Dec
2
Mar
4
Mar
112
Mar
.6% Mar 4
1714 Feb 17
139
June 27
2% Feb
98
5
14 May
96
Oct
8i2
Dec
May
Jan
1618
Jan
87
Jan
51
Oct
69
June
79
7
May
84 Aug
27g Jan 14
158
6i2 Nov
334
Dec
2*8 Nov
92i2 July
102i8 Dec
2i2 Dec
Mar
218
Dec
6
99
Jan
108
June
35% July 27
9
Mar
28
Nov
59
July 14
June
9
3512 Mar
2
Mar
Jan
414 Jan 17
97% Apr 7
23?s July
12% Feb 21
102
Aug 5
3U
86i2
13is
357g
1%
22i8May
123s Aug
24% Jan
99
Dec
618 Mar
5% Feb 24
155s Mar 13
76
Aug 5
100
July 22
57
Jan
114
Dec
June
165g Aug
1034 Mar 19
2
6%
167g
139
55g Oct
25g Mar
is Mar
14 May
7
7% Feb 24
53s Feb 24
Aug
Nov
25g
106% July 21
50% July
Dec
19
6
Jan
Dec
1078
36i2 Nov
2934
2
663 Jan
98
'Il"2
39
14% Feb
23*8 Apr 30
5234 Feb 6
Jan
Dec
Mar
7% Apr 28
July 9
Mar 17
13%
6
6
83
11%
4134 Oct
6II4 Dec
97g Mar
110% Aug
Preferred
July
43g Mar
18i2 Mar
12U Mar
July 20
105
North Amer Aviation
1
No Amer Edison pref..No par
No German Lloyd Amer shs—
"35g
4
9% Apr 27
57 May 21
773g Aug
80
Mar
7
207g Aug
'
3634 July 20
558 Feb
2i2 Jan
Mar
7% Jan
21U June
43i2 Jan
6
Jan 10
4
Mar
*8% Mar
108
100
No par
9
36
6778 Aug
109
Adjust 4% pref
403g Mar
123
300
North American Co
2
Apr 24
z2% Jan 17
N Y Shipbldg Corp partstk—1
N Y Steam $6 pref
$7 1st preferred
6
47g Mar
Feb 11
1478 Feb 17
3
100
No
Jan
5
90
100j
—
7
lOUMay 16
100,
,
313sMay 26
93i2 Apr 23
70
22U Apr
14U2 Mar
13i2 Mar
1278 Mar
Sept
1% Apr 21
210
Jan
2
38,400
Dec
Dec
108
100
100
1458
1414
Feb
7
2
June
Oct
634
Feb 11
28% July
47%
4i2 Mar
9
1132 July 28
38% Jan 9
164
July 31
100
800
2l3g Nov
Jan
t Norfolk Southern
26,200
434 Mar
6
Apr
Norfolk & Western
510
Dec
11
500
26,000
26i2
30
900
40
28%
22% Mar
112
28
No par
Preferred
National Tea Co..
N Y Railways pref
Preferred stamped
74%
13U Mar
11234 Mar
57U Apr 29
1978 Jan 2
74i8 Jan 6
700
99
81% Nov
Aug
2834 Jan
25
3%
98
1534 Nov
Sept
75
National Steel Corp
National Supply of Del—
*3%
13,200
62
July 23
33% Mar
100
3%
3,400
3D4 Dec
718 Mar
9i2 Aug
140i2 July
N Y Lacka &
"4~5o6
Apr
3
NY & Harlem
"MOO
Jan
Apr 30
Apr 30
Apr
104
25r»8June 11
'
••
280
110
26%
200
10
14
% Jan 8
i2 Jan 10
N Y Ontario & Western... 100
*73
Feb
65i2 May
HsMay
33% Dec
1538 Dec
9%May 11
500
12%
66
Dec
No par
9
1234
Deo
Dec
60
4% pf. 100
4%
13
4Q7g
41%
7
Feb 25
162% May
9
12
2134 Mar
Jan
4%
75
75
76
*70
74%
96%
9634
9634
97%
98
97%
*107% 109
*107% 109
*107% 109
138
*1%
1%
*1%
1%
1%
1%
102
60
97
334
943s Nov
Feb
Dec
Nov
Jan
4%
3%
55
Jan
4i2
121%
8%
97
*100
*95
3
23
150
3%
70
*279
2,500
I6I4 Dec
July
Mar
*4%
3%
12%
280
3,300
77,800
4,000
May
li2 Mar
1034 Mar
Mar 17
3%
3%
12%
280
70,000
__
6% Nov
143
8%
12%
....
"~90
*132
358
415s
56
35
11%
26
5534
4,900
1,800
'
112
3%
2%
*22%
12%
40%
50
35
12%
26%
4934
*107
12
*38
11%
35
1178
26l2
52l2
278
11
112
3%
*100
8%
*26
85g
1%
*8
Dec
July
168
67%
119% 123
Dec
1734
263s June 30
158 June
63%
62
119% 11934
8%
8%
11
11%
4i2
Apr
13734 Jan 21
7,400
12,400
2,000
1,600
3,200
v
1
July
Mar
100
6734
61%
4
Mar
100
67
59
84 Nov
25g Dec
Preferred A__
500
118% 119
8
8%
1034
11%
Nov
68
Preferred B
%
67%
64%
21
Nat Enam & Stamplng.No par
National Lead
10
*%
67%
21
No par
Nat Rys of Mex 1st
2d preferred
*107
*131
Nat Distil Prod
900
67%
g3%
108i2 Jan
107i2 Jan
15,900
35
334
7% pref class A
100
7% pref class B
"
100
t Nat Depart Stores.—No par
12%
1%
%
3,6 July 15
31i8 Apr 30
153
12%
1%
112
*3%
.10
1%
*%
9i2 Apr 30
7% cum pref
100
Nat Cash Register. —_.No par
Nat Dairy Prod
..No par
1%
%
12i2 Apr 30
No par
Biscuit
Mar
30i2 Apr
1
1%
*26
77
National
758 Nov
5114 Mar 11
2178 Feb 19
Jan
15% July
20i2May
Rights
National Pow & Lt
33g
*277% 285
-
"do
*107
3'%
2
5,900
~
43
100
National Acme
12%
%
*53%
100
Nashv Chatt & St Louis
12%
67
,
90
7,500
12,600
172
Dec
1
19i2 July 20
77
4478May
102i8July
14
Apr 30
No par
121-
12%
47
_
150
*141% 143
30
9734
8%
*4%
*3%
8%
*167
112
1%
858
514
378
59
118
172
Munsingwear Inc
No par
Murphy Co (G C)z
-No par
5% preferred
100
Murray Corp of Amer
10
Myers F & E Bros
..No par
Nat Aviation Corp
±
27
33%
77%
3%
11%
1%
67%
?2%
165
*107
29%
14%
5o%;„ 50%
39% 40%
*32%
1%
%
2534
1
No par
1,400
58,600
11,600
11,600
26%
172
12%
32
*162
Preferred
Nash Motors Co
~7,400
150
12%
Jan
26%
26%
26%
*167
123s
1%
%
67%
21
12,200
17%
13%
150
Jan zlll% June
H4
103a
2i2
5%
8912 July 29
32i4 July 30
5
10,600
2,240
15,300
*108
27%
27%
May
27
26%
112% *108
112%
110
110
110"
110%
15
14%
14%
14%
27% 27%
27%
27%
*32
32
32
33%
27% 28%
2734
28%
26%
*32
70
mm'mm
29
25%
110
110% *110
27%
*162
26%'
110
283s Apr 30
1518 Jan 2
11
Apr 30
200
26
Jan
% Mar
41i2 July 28
2212 Mar 3
Mulllns Mfg Co
class B
116i8
Oct
Nov
178 Feb 10
5,700
16%
32%
164
25-%
2
50
25%
16%
13%
1334
323g
34 Jan
Motor Wheel
634 Oct
20i2 Dec
2478 Sept
*4 Apr
July 30
44
Dec
May 29
Mother Lode Coalition.No par
Motor Products Corp..No par
!
Dec
4258
85
31
6
Mar
3
48
71
20
15%
103
7
Oct
33l2
Jan
378 Mar
8
5934 Feb
600
*49
z28% Apr
6034
Apr
Nov
7
3534 Jan
—...
8% Nov
58
7
Feb
Dec
65U Nov
105
734 Feb 11
6
31
16%
.
20i2 Jan 7
79 May 19
178May 19
10
4
4
89
16
16%
14
20
31% Aug
3
Jan
31
50
3% Jan
97i2
Dec
85
95s Feb 21
60i2 Jan
-
16
100
»
Jan
Dec
Jan
2% Mar
2618 Apr 14
50
*87
71
71
67%
67%
*103% 105
*103% 105
17
18
18%
18%
1834
*•«
•
16%
*162
39%
73
*71%
*103-'%
18%
1734
-
100
t Missouri Pacific
Dec
11558
1434
9i2 Mar
8U Mar
60is Mar
Aug ,li
7,300
1,900
17%
31
2i2 Aug 5
234 Jan 2
I634inue 10
5i2 Jan 6
14i2 Jan 2
2%May 5
No par
Dec
Mar
22
31% Mar 30
3,100
6,800
2134
17%
73
100
100
-
Morris & Essex.
17%
8834
■V
1034
1538
2034 Mar
234 Feb 7
514 Feb 10
6% Feb 8
No par
Dec
Nov
40
Dec
24*8
76% Mar 24
13s Feb 10
13s July 14
6i2 Jan
1934
45i8 Sept
131
Jan
3
93
Aug
10978 Mar 16
1238 Mar 23
140
20%
J
par
Minn Moline Pow Impl No par
4% leased line ctfs
Oct
35i2 June
97i2 Dec
7
102
Mission Corp
Nov
41
54% Aug 7
12% Apr 13
2334 July 21
47% Apr 6
9
200
17%
2
Mar
1
38
Apr
88
68
20%
11
July 21
110
46%
17%
9
6
Feb 21
Mar
578 May
Mar 24
-.100
%cum 1st pref..
*45%
68
19
Milw El Ry & Lt 6% pref. 100
Mont Ward & Co Inc. No par
Morrel (J) & Co
No par
39%
.
10
No par
Jan
38i2 Dec
8i2 Apr
85i2 Mar
Apr 23
534 Jan 3
11714 Apr 30
215s Jan 9
6
Mid-Continent Petrol
7% preferred.
June
90i2
3
3H2 Jan
4058 Jan
t Minneapolis & St Louis-.100
8,900
21,500
108
71
Aug
3734 Apr
100
Minn St Paul & SS Marie. 100
140
Oct
103
6
400
300
55
714 Mar
3334 Nov
Feb 17
10% Mar
6
Preferred
54
28
15U Mar 26
81
200
1,300
46
108
Minn-Honeywell Regu.No
6% pref series A
No
10
7,700
20
84i2
Jan 31
2
1238 Jan
Merch & Min Trans Co .No par
8
24
6% May 22
30 May 13
-
-
5734 Nov
Jan
Jan
3218 Jan
493s Jan 24
118i2 Jan 3
1134 Feb 14
97% Jan 10
47,900
21
*109
3%
*100
*48
1,900
17%.
1%
zl6
2658
338
*277'8 285
*56
-
35% Mar
Nov
7
5514 Jan 31
47%
1
108i2 10812 *107% 109
*109%
7% preferred-
Dec
337g Nov
156
Jan
July 21
1
4634
46%
67%
*143
54
3334
93
172
*107
40
10
150
54
297g
*7534
290
104
91
*167
112
51
125
*100
90
*143
54
137g
125
104
1714 Aug
100
No par
Mengel Co (The)
Midland Steel Prod
38i4
35%
14%
2.7%
*107
*26
m
-
47
26%
110
12%
*1%
46
■
«
47%
16
26
26%
110
10% *109
143g
2814
*32
No par
$6 pref series A—...No par
6,000
20%
1734
33%
#.
25%
110
28
Mead Corp.
Miami
Aug
lli2 Apr 29
973s Jan 7
100
43%
39%
*48
163g
14%
^32
14
r7 32
732
1
1
Melville Shoe
960
6
85s Apr 30
3734 Jan 3
No par
10%
22%
18%
72
16
*108
280
600
8,100
11
June
5%
33
4
32% July 17
June 16
85
..5
S3 conv pref..
Mesta Machine Co
21%
*10338
49
*109
1,100
10
17%
77
163g
"
88
42%
McKesson & Robblns
McLellan Stores..
4,800
7,500
11,900
39
*31
50
67
46
1%
*87
I6I4
26l4
2614
125
*100
87'
June 19
16
6% conv pref
54%
9%
2234
42%
126%
92
100
395s Mar 25
10,600
4
110i2iune
9
McGraw-Hill Pub Co..No par
36
20«4
88
72%
*103%
♦103U
*49
125
30
52%
9%
22%
^ V1
3834
38%
313g
*31
47%
4634
*1
21%
18%
88
32
46%
46%
66%
1%
39%
2034
185g
9
22%
37
52
*32%
104
.
2
Feb 24
12%May
Mclntyre Porcupine Mines..5
McKeesport Tin Plate-No par
Rights,.—.2^
50
*86
9%
44%
-
46%
*46%
*66i8
■
9lxs
44
107*2 107'2 *106% 108% *107% 108% *107% 108% *107% 108%
8
*
8
734
7%
734
8%
8%
7%
8%
8%
60
63
63
60*4
69*4
62%
62%
62%
62%
63%
♦3g
%
*3g
%
*%
%
%
%
%
%
*d2
15g
1%
1%
*1%
1%
*13g
1%
*1%
1%
3%
*2%
*2%
3%
*2%
2%
2%
3%
*2%
3%
4
334
*3
*3%
3%
3%
*3%
*3%
3%
334
20
20 s
20
20%
20
2034
1934
20
19%
19%
9 I',:. •9%
9
834
8%
834
8%
834
8%
9%
29
28-%
29
29%
30
28% 29
2934
29%
31%
234
234
2%
2%
2%
2%
2%
2%
2%
2%
534
534
534
5%
6
5%
534
534
6%
5%
21
22%
2234
21
21%
21%
21%
21%
21%
21%
99
99
97
98% 99
98%
97%
97% 98
9834
60
*3g
*1%
*2i2
934
44
52
4214
*8312
9%
52%
2258
May
29
No par
700
15%
15%
147g
147g
14%
14% 1434
1434
1478
105
*103
*103
*103
105
105
*10234 105
*103 * 105
15%
15%
15%
15%
*15%
15%
15%
15%
15%
15%
105
105
10434 10434
10434 105
*10334 105
*103% 105
79
79
79
79
78%
*78
80
78%
78%
78%
9
858
8%
83g
8%
9%
8%
.9%
9%
9%
63
67
71
6212
62%
62% 03
67%
60% 6778
37
2
3,700
3,600
16,000
1,700
14-%
42%
984
9%
44
44
*34
37
517«
5134
9%
95g
,
Jan
Dec
37g Dec
45U Dec
1414 Nov
136
Feb 28
103
2334
Mar
634 Mar
50% Apr 8
110U June 15
JMcCrory Stores Corp new..J
6% conv preferred
19
42%
19*8
41%
1934
4214
9212
934
19%
......
McCall Corp
Feb 13
Dec
Mar
2334 Mar
21% Feb 28
55
Dec
10
Oct
1
5
Mar
Dec
1%
334 Mar
5
12
'
17%
*98% 101
*98% 101
*98% 101
*98i2 101
16%
45
19*8 Mar
978
20
3612 Feb 19
160% July 8
5638 July 15
109
No par
1st pref called
3134
7
5
11% Jan 22
0% Apr 28
27% Apr 27
15378 Jan 17
43%May 4
13% Apr 30
4678 Aug 4
2%
May
3
.
38 June
4i2Mar 18
5034 Mar 5
2U July
May
41
Marshall Field & Co ..-No par
50
*46
100
2d preferred
100
Marlin-Rockwell-—.No par
Mathieson Alkali Wks._lVo par
7
3is Mar 19
10% Mar 18
3034 Apr 6
Dec
Oct
Sept
19i2 Nov
6% Apr
1234 Aug
6% July 27
1884 Jan 10
1214
66i8
30
13% Mar
684 Mar 17
8% Apr 30
1»8 Jan 7
.———.100
5,900
5,500
9%
10%
34%
3434
*15834 161
54
53%
53%
Highest
$ per share $ per share
$ per share
$ per share
7 June 30
10,900
834
34%
*15834 161
Lowest
Highest
Lowest
Par
47
53%
15%
46%
109% *109
109i2 *109
Zl834
3%
12%
46%
2%
15%
160
158
158
160
3%
12%
*6%
*23
'
*158
1934
*1%
9
834
1634
3%
1%
34
10
33
16%
12
46
9
34%
*9%
33
1634
*19
46
15%
15%
19%
3%
12%
EXCHANGE
the
38
1534
15%
Shares
1936
Range for Previous
Year 1935
Ranoe Since Jan. 1
On Basis of 100-share Lots
Week
$ per share
6
-
10
*933
*33
40
2%
46
33%
34%
Aug
Friday
Aug. 7
S per share
23
23
2%
*2%
46
5
.
S per share
10
*93g
S per share
10
*93g
share
per
Aug
Aug. 4
Aug. 3
Aug, 1
S ver share
Thursday
STOCK
NEW YORK
JOT
Wednesday
Tuesday
Monday
Saturday
Aug. 8,
36% Feb 20
57
Mar 24
4% Mar
30
6
Jan 22
17% Jan 15
54%May
5
z20
,
Nov
55
73g
102
Dec
Dec
Nov
10i8 Nov
Mar
99
Mar
Jan
25U
Dec
52i2
Dec
July
Mar
2U
Jan
914 Mar
I6I4 Oct
Aug
32i2 Jan
14U Dec
27% Dec
Record—Continued—Page
LOW
ANN
HIGH
SALE PRICES—PER
Sales
NOT PER CENT
fnr
Ju'
Saturday
Aug.
Monday
1
Tuesday
Aug. 3 .'V
$ per share
Aug. 4
$ per share
Auq
$
19
*103
*80
85
*50%
*114%
53
155
61
80%
*103%
153% 154
7
6%
39%
56%
39%
39%
39
39%
55%
56
55%
18
18
19%
18
*149%
14%
10%
1034
12%
12%
2%
*2%
3
61
8
8
69
*2%
*68
m
w
8
.
8%
68%
8
258
234
2%
*63
5%
7%
2%
2%
64%
63
63
63
63
90
89%
8934
89
89%
89%
4
8912
*3%
11%
*3%
4
3%
6%
*3%
2%
3%
3%
*63
6%
63
6%
8%
Pacific Gas & Electric..__
4%
63
90
500
500
3%
36
6%
36%
25%
6%
36%
35%
6%
37%
38%
41%
25%
25%
24%
24%
24%
25
13,300
Preferred series A
1,500
1,000 Penn G1 Sand Corp v t
37%
37
37%
36%
3634
36
36%
35%
36%
36%
37%
49%
29,100
4,100
51%
*4
484
*40
42%
45
45
*115
44%
116
50%
5134
*4
4%
4134
41%
*95%
97
*9534
*72%
8034
22%
1434
*72%
*22%
*14%
44
44
116
*115
43%
*115
49%
*4%
4134
96%
*72%
2234
50%
14
50%
*4%
47
116
51
52%
43
4%
46
*115
45%
116
*4%
4%
45
99_34 100
85
88
2234
22%
23
500
14
23%
1334
23%
14
*22%
1334
23%
14%
13%
14
14%
2,100
13
13
13%
38
*53
55
37%
*54%
38%
54%
98
7
10i2
10%
1%
97%
1%
9434
IDs
*94
13%
37%
11%
*95
98
*95
634
*6
7
*0
1034
1%
98%
12%
*10
*10
10%
134
97
11%
12%
*101o
*7034
1%
11%
10%
*7034
83
7%
*6%
*65
11%
134
1%
31%
1%
31
70%
*57
*57
10
*9%
43%
*41%
*179
-
11%
134
11%
32%
-
-
-
*11
7
75
*65
11
11%
74%
*1%
15%
7%
84%
75
75
75
84%
33
33
44%
*6%
*70
11
*10%
*57
1%
*8% > 9%
*40
*8%
*40
41%
*179
10
934
*1%
934
17%
7%
85
74%
*71%
*1%
*14%
7%
1%
*14%
7%
84%
33%
1%
17%
7%
1*%
*14%
7%
83%
85
7%
*83%
34
34
34%
83%
34%
34%
2
34
84
2
100
,74
1%
*1%
17%
7%
14%
--
14,900
7%
*6%
.7%
75
......
75
*70
.
"
11%
500
1%
1%
31%
11
31%
1,800
1,400
11%
1%
31
*179
1%
7%
8434
8434
«
300
W
—
—
6,600
830
134
17%
50
7%
2,90C
340
86
3434
35%
560
"2"
35
"*!% "2%
15%
15%
23
*18
17%
17
17
6
2%
7%
*7%
15%
*18%
23
6%
6%
*2
1534
15%
*19
*2
*7%
15%
~*1~%
15%
15%
*20
23
17%
17
*16%
16%
16%
6
*5%
5%
6
2
2
7%
6%
2%
7%
."*1% "2%
15%
23
7%
*5%
1%
*7%
*20
2
2
7%
7%
"2"
"""300
4,600
15%
6
21%
17
16%
1534
*20%
15%
23
17%
534
*5%
Y
134
share
3% July
75
Jan
434 Apr
Apr
IBs
106
Jan
2234
Jan
38
Mar
Hosiery
10% Mar 24
48% Mar 24
2734 July 17
39
30
4
7%
700
June
Jan
11U2
Jan
634 July
3% Mar
10S4 Jan
% June
6% Mar
71% Dec
~~8~ Aug
Nov
9% Aug
May
'11
2% Mar
34 Apr
47s
8i4
Oct
Feb
84 July
64i2 Feb
57% Apr
2% Mar
3
Mar
18
Mar
17% Mar
30
Feb
1083s
Oct
1734 Mar
2% Feb
914 Mar
16% Mar
Mar
Aug
13
24
Mar 28
13% Oct
7% Mar
18
40% Apr 11
1284 Mar
54i2 Aug
23
98
July 15
12
Mar 13
38i2 Mar
1% July
66
3% July
134 Mar
35% Mar
1218 Aug
1512 Feb
88
5% Mar
53% Apr
1334 Mar
Mar
493s Apr
6
97s Jan 10
84
Jan
Feb 21
17
July 13
Jan 15
2i2 Feb
37% Jan
1% Jan
3012 July
5
6
Jan
4
61
Feb 21
7i8June
8
12
Feb
5
Aug
3
50
3512 Apr 28
100
43
3
181
176
Pitts Steel 7% cum pref...100
Pitts Term Coal Corp
49
6% preferred
Pittsburgh United.
14
Feb
2
85% Mar
4
3
June 20
21
l^May
..100
25
Jan
58i8 Jan
7
100
21
2
Pitts Youngs &A Ry 7% pf 100
Pittston Co (The).
No par
Plymouth Gil Co...
167
.100
Jan
5
Jan 17
Jan
8
9i2 Apr 11
2
3
June 25
1138 Jan 31
712 Apr 30
Jan
Oct
Feb
10134July 24
Mar 13
512 July
8
11
167s Mar 13
3% Jan 13
,
734 Apr 29
May 29
70
Feb
19% Mar
81% Jan
314 Jan
8i8 Jan
l%July
Pitts Ft Wayne & Chic pf.100
Pittsb Screw & Bolt..No par
9U2 Apr
4U4 Apr
167
July 22
II2 Apr 24
8
4
July 22
334 Feb
6
3
Mar
60
July
234 July
% July
31
Apr
65% Aug
7
Mar
20% June
172
Feb
6l2 Mar
2218 Mar
1
Mar
Apr
10J4
li4
24i2
67s
June
1
Mar
Mar
Apr
0% Mar
634May 21
16% Apr 2
26i2Mar 3
1934 Feb 19
934 Mar 4
338 Jan 11
1214 Feb 6
214 Apr 29
Apr 30
53s Jan 16
36
Jan 16
49
Jan
5s May
6i2 May
4238 Jan
liv8 Jan
...
t Postal Tel & Cable 7% pf 100
Mar
12
88
38% Jan
...No par
19
70
45% Jan
Mills.....25
Class B
13i8 Mar
Jan 13
par
Porto-Ric-Am Tob cl A .No par
,
46
Aug
10234 July 14
68
700
Mar
6
100
2,700
1
10% June 30
25% Jan
5
Pittsburgh & West Va
Mar
3l2 Apr
Jan
938July28
Preferred....
Aug
1
1288June
par
Pocahon..No par
Poor & Co class B
.No par
500
Jan
Mar
14
16
10
Preferred
Feb 21
493s Ang
11684June
5212 July 29
712 Feb 19
Apr 27
80
56
.......100
Flour
Feb 19
Mar
2518 Apr 28
6412 Jan
Pierce Oil Corp pref.100
Pierce Petroleum
No par
Pillsbury
Feb 21
9134July 31
678 Jan 28
28% Apr 29
No par
j
Preferred
_
3% June 23
412 Jan
2884 Jan
17 June 30
50
Phillips Jones Corp...No
7% preferred
Phillips Petroleum
No
Phoenix
73
Mar 13
114i2 Mar
67
Apr
_
6214 July 30
50
Phillip Morris & Co Ltd.
Rights.....
"
1714 Jan 24
278 Mar 17
1% Jan
20
Pond Creek
I84
7%
7%
6%June 20
Pittsburgh Coal of Pa...-.100
....
"i% "Y%
4i8 Jan
69
Feb
514 Jan 23
4714 Mar 10
26%June 12
10
Apr
1178 Apr
10%May 20
No par
Phila & Read C & I
28
284 July
4084May
23
Apr 28
Pirelli Co of Italy Am shares..
75%
.
$6 preferred
7% preferred...
12
87'4 Feb
1284 Jan
June
8% Apr 20
17»2 Jan 13
Phelps-Dodge Corp...
25
Philadelphia Co 6% pref...50
.
July 30
7% Apr 20
59
No par
Petroleum Corp. of Am.
5
Pfeiffer Brewing Co...No par
X Phila Rapid Tran Co
74i« Apr
97i2 Feb._
106i2July 31
18% Jan
Apr 28
67,
No par
—-
"10%
*1%
*1334
7%
—
^
75
15
.
•
9%
74
„
42
42
43
~9%
:
10
*9
67a Jan
103
100
c
200
70%
*57
70%
1034
*179
9%
74%
*70%
134
15%
6,000
23,200
44
70%
42%
3,600
43%
*57
9%
•
10%
43%
~
—
1%
11
75
1%
_
83
43%
7%
.
94%
10%
1«4
93
94%
11%
-
20
*9%
70%
*41
10%
M
10%
*9%
*7034
31
9
~*6~
7
9%
1%
Feb
Pet Milk
100
98
98
11
31%
9
50C
83
*31
*1%
3,000
15,500
55
*9%
1%
*179
10
10%
13
39
*53
54%
*7034
31%
*57
43
10%
11%
12%
83
184
*179%
10%
7%
*97s
*70%
44%
*6%
1%
93
31%
32%
70%
10%
*93S
4234
«•
9%
1%
44%
*65
..
"*6~
96%
11%
10%
*6%
75
1*4
95%
11%
83
43%
44%
634
*65
75
*11
43%
*6%
134
97%
96
12
83
1034
98
12%
38%
13%
3834
*
■;?>$)■■
*10*2
44%
13
38%
53
'
55
*10
*72*4
43-84
38
*6
95'
*6
46
45
97%
84%
54%
95
4%
8134
38
>
4%
96%
13%
13
,
38
44%
38%
54%
Feb 10
People's G L & C (Chic)...100
200 Peopria & Eastern
100
1,500 Pere Marquette
....100
Prior preferred
1,000
100
Preferred
1,600
100
96%
13
July 16
18
11,100
5134
81
38
*53
152
110
44
■
8
ioo
96%
96%
80
Jan
11*4 Apr 30
Preferred
51%
51%
4%
140
par
Pennsylvania—..60
Peoples Drug Stores. .Noo par
116
80
42
97%
8034
2234
14%
13%
22%
*1414
7%
47%
*115
Feb 27
No par
25
116
130
.No par
36
51
3
Penn Coal & Coke
Corp....10
Penn-Dixie Cement
No par
24
44%
July 20
5834 July 22
1934 July 11
..100
Penick & Ford
3,900 Penney (J C)__
3%
6%
36
*115
41
Jan
100
24
6%
934 Feb 10
118
conv pref.__.
*35
6%
Feb 11
414 Apr
&
36
6%
17
20% Jan
Petr
25%
6
164l2 Mar 4
1778 Mar 25
934 Feb 11
100
Corp..#©
37
"
3034 Jan
47% Apr
14%May
Pacific Telep & Teleg
6% preferred.
Pao WMtern Oil
*24
6%
Jan
25
__No par
*35
6
8
2
8
3
11
30
15
:.Nopar
Pacific Ltg Corp
Pacific Mills
3,200 Patino Mines & Enterpr No par
6,300 Peerless Motor Car
3
2%
90
89%
3%
2
4%
2,500 Parker Rust Proof Co...2.50
1,600 Pannelee Transporta'n .No par
4,400 Pathe Film Corp
No par
1134
2%
62%
63
89%
3%
43
25
1134
2%
90
25%
6
No par
Paramount Pictures inc.
.1
First preferred
1,400
_1Q0
Second preferred.....
2,300
10
1,100 Park-Tilford Inc...
1
4,000 Park Utah CM..
1
2,100 Prirke Davis & Co
No par
8%
8
8%
12
Jan
July
312 Jan
8% July
11,400
8
68%
42%
x24%
Glass
2d preferred
50C
3
3%
63%
3%
8
Feb
]3g Jan
270
7%
7%
per
4% Mar
July22
12% Aug
1,100
0
12
53
114
Trans...5
84
,
6
11%
7
Panhandle Prod & Ref.No par
8% conv preferred.....100
Parafflne Co Inc
.No par
61
25
6
Jan
July 22
47
114
Pan-Amer
61
4234
11%
2%
95i8 Feb 19
100
83
*3
3%
2034 Mar
7
400
82%
24%
9
2
,.100
.......
32,700 Packard Motor Car.. .No par
2%
60%
4234
6
2,300
59
24%
8
■:V«.
13
*104%
103% 104
7%
7%
8%
68%
*68%
69%
834
834
834
25
25
25%
43
11%
2%
*6%
734
11%
8
234
31*
42%
24%
638
7%
11%
234
6%
150
IOS4
10%
*12%
2%
13
3%
42%
3%
4234
24%
11%
1,600
24%
24%
77«
4,400
2,000
19
4234
3%
42%
24
11*4
56%
24%
3%
42%
*6
39%
25%
25
3%
HO
*82
8%
2
13
39%
55%
25%
25
*3%
24
8
8%
Jan
128
*1834
25
24%
8%
Mar 25
July
70
No par
.... *
Owens-Illinois
590
69
9
14
3234 Feb 24
13f6 June 12
1212 July
123
100
Co.. .25
6%
68%
8%
*8%
_ioo
No par
Prior preferred
Outlet Co
Pacific Amer Fisheries Inc...5
6%
10%
*2%
58
Preferred..
Pacific Coast.............10
1st preferred.
No par
18%
*12%
81%
2
190
55%
10%
12%
2%
57
24%
*42
10%
103% 103%
'
68
8%
69
1,100
11
10%
6%
6%
■
^
12
*11
:
Jan
24% Apr 27
2,200
6%
*5%
125
124% 124% 125
*149% 150
*149% 150
14%
1434
14%
14%
14%
81%
8134
81%
8%
*24
10%
*12%
58
58
*103%
8
*68
834
14%
13
81
7
8
25i8 Mar 30
115i2 Feb 24
2
No par
Otis Steel
Preferred.
124% 124%
10%
*103%
6%
11%
0%
14%
30
,
15
15
15%
6%
13
2%
81
14%
14%
125
200
Jan
5
$ per share
$ per share
17
July 7
107
& Co..No par
Otis Elevator
70
8,100
100
Oppenheim Coll
-
*6%
11%
1034
*12%
*58
81%
-
7
—
2%
Par
'
'
.
700
13,600
Year 1935
Lowest
■
Omnibus Corp
(The) vtcNo par
Preferred A
53
52
52
*51%
*114%
*114% w'152
152%
152% 152%
14%
-
14
5,200
Range for Previous
Highest
Lowest
Shares
84%
*80
83
83
Range Since Jan. 1
On Basis of 100-share Lots
Week
share
53
.
1084
per
85
,
2%
*57i8
6
.
18%
—
1034
Aug
EXCHANGE
113% *103
.
*12t4
5
.
STOCKS
NEW YORK STOCK
the
Friday
Aug. 7
Thursday
$ per share
$ per share
19%
18%
18%
18%
18%
113%
113% *104
113% *104
12
11%
11%
*10%
11%
11%
11%
29%
29%
29%
2834
28%
29%
29%
*104% 135
*104% 135
135% *104% 139
16%
16%
15%
16%
1534
15%
16%
$ per share
1938
19%
19%
18%
18%
113% *103
113% *103
12
*1134
1134
11%
11%
*27
27%
27%
2734
2734
135
*135% 139
*135% 139
16
16%
16%
16%
16%
82
82
85
*82
*82%
52
53
*50i2
52%
*50%
*114% :=/£;•
*114%
*114%
154
154
154
154% 154l2
15
1458
1434
14%
14%
7
7%
*0%
7%
*63s
13
*12i4
11%
*1134
11%
*7is
7%
,7
7%
; 634
39%
39%
39% 3934
39%
57
57%
56%
56% 57%
18
18
*17%
*17%
17%
125
125
124'
*123% 127
*150
*149% V -.'
*149%
14%
14%
14%
14%
14%
SHARE,
Wednesday
879
8
•
12
4i8 Jan
II4
6
May 18
Jan 2
Jan
2
2
61*8
Mar
1% Mar
i4 Feb
438 June
'
2%
27%
44-
44%
3
2%
*2534
26%
44%
2%
120
*118
47%
*46-%
109
109
*118
*118
125
*137
*151
165
113
113
*112
19%
19%
107% 107%
95%
15
15%
12
12%
110
*106
79
6%
,
79%
6%
35
35%
45
45
-
19
113% *112
51
51%
18%
78
11%
78
2%
17
19%
*95
15%
14%
11%
14%
s
109
79
7834
*13%
*32%
14
33%
110% 110%
26
26
*106% 109
*27%
28%
55%
56%
60
eo
*
14
25
*39%
40%
11%
14%
•
10%
*100
73%
44%
45
45
49
*48%
41%
42
41%
41%
10%
78
2
2
*15
17
2%
17
19%
1834
96%
19%
95%
95%
13%
13%
13%
33%
33
110% 110%
26%
26%
111
26%
33%
.
111
26%
120
165
45%
49
41%
6%
14%
11%
11
110
76
634
35
4434
45%
*4834
41%
41%
49
10%
*10%
11
*76%
78
*15
17
*88
*21%
104
4%
21%
97
95
13%
32%
2%
19%
90
22%
104
4%
*2%
*15
1834
*88
22%
102
For footnotes see page
872
*95
14%
78
18%
*155
97%
*76%
2%
10%
*118
138% *138
2%
17
19%
90
22%
*100
.
74%
*26%
6% preferred.
7% preferred..
8% preferred...
No par
.100
100
100
""260
Pub Ser El & Gas pf $5-No par
13,200
Pullman
32,100
Pure Oil (The)
280
100
75
8,700
..No
inc
par
No par
8% conv preferred
100
6% preferred
100
Purity Bakeries.._....Norpar
Radio Corp of Amer—No par
Preferred B
$3.50
conv
.No par
1st pref.No
'par
Jan
16%June
May
9l%May
9%May
9«&May
83% Jan
15,700
X Radio-Keith-Orph...No par
5
J an
Raybestos Manhattan.No par
Reading
----50
28%
Jan
45%
49
*41%
47
3,100
49
100
41%
400
11
800
*10l2
76%
76%
20
2%
2%
300
*15
18%
*88
22%
17
19%
89%
2234
4%
"
3834
112% 114%
26%
26%
107% 107%
2634
27
55%
55%
*58
40
25
*41
41%
7,900
Silk
-.50
50
Hosiery......... 10
100
Preferred
No par
...
100
1
25
25
Rensselaer & Sar'ga RR Co 100
Reo Motor Car
....5
41,100 Republic Steel Corp...No par
6% conv preferred
100
7,200
6% conv prior pref ser A. 100
4,800
5
2,700 Revere Copper & Brass
4,500
Class A
...10
Mar
99
Jan
117% Mar
173s Jan
1414 Jan
108%June
80
July
9U Feb
7
20
17
27
6
17
18
15
19
14
Jan
4
88
3i8 Apr
20% Apr
Mar
1
Jan 14
8
Mar
7
June
69
Aug
8%
2634
10434
96%
16i2
3834
4
4
10
Feb 17
114
4i8July 8
167s Apr 30
May
7
4
2434 Jan 23
Apr 15
9
July 28
78%May
Aug
23*4 Jan 15
9934 Apr 15
22
7
18%June 30
8512 Jan 3
Apr 20
24uJune
1% Mar
10i2 Mar
334 Jan 14
l7s Apr 28
77
Feb
Mar
35% Mar
Apr
1034 Jan 30
July
June
Apr
417s Aug
21
4
33
49
2
102
884
36
7
12%May
65
297s Mar
4
70
49&8 Mar
3
Jan
Jan
37
2912 Oct
678 Mar
38% Apr
48*8 Feb 24
978 Jan
39
Mar
85% Mar
9
Mar 25
Feb 19
7
7
Feb 17
21*8
Oct
98% June
2% Mar
9
Mar
Aug
2858 Mar
Aug
78% Oct
5i2 Apr
13
Apr
Aug
7
Jan 23
75
Apr
Apr 28
120
2,300 Reynolds Metals Co ...No par
300
5H% conv pref
100
_.l
3,000 Reynolds Spring new
9,700 Reynolds (R J) Tob class B.10
22i2May 25
105
Apr 27
34
Apr 29
585s Feb 28
~43%
Mar
10
591.1 July 27
655s Feb 10
55%
Apr
13*8 Jan 9
35
MarlO
11*2 Dec
5% Mar
217s Feb
550
14
*24
Real
;
Rets (Robt) & Co
preferred
8^600 Remington-Rand
200
$6 preferred
Prior preferred
500
59%
*12%
preferred
1st
104
4%
1st
2d preferred
73
100
247s Mar
13334 Apr
6
35% Jan
Feb
July 14
52% Aug
2
1,100
6238
14412 July 14
104
July 14
114
Apr 1
68% Apr 28
634
3484
Jan
2038 Mar
July 15
130
2
6
1
4
9
12
2
103
115
113
7
3678 Jan
112
2
122i2 Feb 26
49% J uly 22
103l2 Feb 21
113'8 Apr 3
128
Apr 4
146
Apr 14
6%
37
26%
100
400
11% 118,200
37
26
$5 preferred...
18
40'4May 12
11734 Apr 7
39
Apr 29
34%
102% *102
110
5% pf (ser of Feb 1 '29) .100
110
2134 22%
99% 10434
95
96%
14
1434
13%
par
Pub Ser Corp of N J-_.No par
8,300
99%
95%
14%
33%
No
60
14%
9834
110
Gamble
&
600
100
95%
13%
100
Preferred
4,300
98%
98%
95%
33
Procter
165
21%
111%
t Pressed Steel Car...No PaT
1,200
3,900
138%
4%
21%
111
,
120
4%
21%
26%
109
*107
107
107
*107% 109
*107% 109
27
26
27%
27%
28%
26%
28%
26%
56
55%
56%
55%
55%
55%
55%
5534
60
60
60
60
60
*58
60
59%
14
14
14
14
*13
*12%
*12%
*12%
*24
25
25
*23% 25
*23% 25
*23%
41
41%
*40%
41%
40%
41%
41%
40%
'
*24 ~
14%
*34%
1034
33
*95
96%
78%
*76%
*13%
19
108
*48%
49
46
11334 *112
11334
50%
51%
52%
18%
18%
18%
19%
108- 108
107% 108
6%
35%
45%
27%
45%
50%
6%
11%
95
*155
51%
106
2,000
2%
26%
45
113% *112
76%
90
8934
89% 89%
*89%
*21%
22%
*21% 22%
22%
*21%
*102% 104
*102% 104
*102% 104
434
4%
434
434
4%
4%
22
22%
21%
21%
21%
21%
97
98
95
98%
95%
95%
94
11%
106
138
165
34%
76%
19%
11%
2 34
3
26%
47
47%
46%
47%
109% 109%
108% 109
125
12358 123% *121
7
76%
*15
*118
47
109%
35
634
*1034
*2
118
35
'
7
35%
45%
12%
*106
*89%
94
18%
108
96
0
*76
50%
108
78%
6*4
*41
*1034
19%
■:
96
12%
*35
*47
51%
*155
108
110
*106
49
18%
*112
-
165
19%
12
42
*15
-
*108
95%
14%
*46
*2
-
109
*155
107% 107%
*95
*40
46%
45%
125
*117% 125
138% 138% *137
138%
13934
165
*94%
118
*234
26%
44%
2%
27
*117
140
51%
45
47%
109
*137
51%
2%
*26
■
120
47
47%
*155
51%
45
110
125% *123
2%
26%
44%
120
46%
*109
*123
234
26
26%
4434
150
Preferred
(l/l&ss Al
—
.
-700
Westphalia
90
25
50
July
10*4 Jan
19i2 Feb
32
3
Jan
5
.
Jan 13
30
3
2
RoAn Antelope ''opper Mine"
Feb
117
3
El A Pow
Iiitter Dental Mfg....No par
Rhine
...
100
17% Apr
101
June
July 17
41 % Aug
6
New York Stock Record—Continued—Page 9
880
PRICES—PER SHARE, NOT PER CENT
LOW AND HIGH SALE
Aug. 3
Aug. 4
Aug. 5
$ per share
$ per share
$ per share
1
Aug.
$ per share
24%
5
*1112
12%
*1112
31
2812
*28%
28%
10934
108%
*5%
24i4
*214
31
28%
*108
578
2%
4%
12%
38%
12%
39%
98%
1%
*12%
39%
98%
1%
*10
1%
10%
61%
10%
61%
*78
82
3%
70%
25%
14%
24%
4%
*3%
82%
3%
71
71
71
25
25%
25
25%
14%
14%
14%
24
24
24%
14%
24%
*31%
32
*31%
19%
19%
1/8%
122
122
*122%
9%
978
*9%
36
4%
2878
35%
4%
29
35%
*4%
28%
127
*123
*124%
*10%
61%
%
2%
33%
2%
33%
25
25%
15%
15%
24
24%
24%
92%
93
7%
60%
60%
88
86
86
48
2;.%
47
14%.
4%l
4%
27%
4%
27%
27%
"31%
31%
%
4%
27%
•
%
115
4
4%
28
154
154
»_
154
31%
1
'12
115
28
47%
22%
1
22%
14%
%
*112
113
4
4%
2814
27%
154
151
*31%
32
18%
18%
122
912
6,300
32
70
18%
6,500
600
*124
100
14%
47
24
24%
14%
14%
*112
115
14,700
7,000
152
"32"
32%
40%
20
42
35,400
20'«
20
20%
20
21%
2134
2234
56,400
39%
41
33%
3 >M
38 %
40
37%
41
41%
42%
32,900
55%
55
55
55
55
9
69%
120
*52
54%
*50
*8
55%
■'
9%
70%
*66
*8
6/
9%
*50
14
9%
8%
8%
*66
69%
69%
111
111
*109% 112
*109% 112
*109% 112
7%
7%
7%
7%
7%
7%
7%
7%
13
13%
13%
13%
13%
13%
13%
13%
*83
85
*83
85
*30%
31
*30%
31
40%
*734
9%
70
70
70
*109%
111
7%
738
1378
22%
22%
22%
28%
28
28%
51%
51%
52
85
83
83
31
31
31
16
1578
15%
15%
16%
*126
*126
127
*8%
*66
111
24%
27%
53
10,900
13%
14%
1,500
126
126
10
12
Sparks
Withlngton
No par
Spear & Co
1
'
*81
31%
23%
;
£
*81
„
32
31%
10
32
700
126
126
No par
5,100
3,700
6Yx% preferred
Square D Co
73,000
26
126
35.50 preferred
Spencer Kellogg & Sons No par
Sperry Corp (The) vtc
1
Spicer Mfg Co
No par
Conv preferred A
No par
Spiegel-May-Stern C0..N0 par
1,200
220
20,800
126
40
100
No par
Standard Brands
No par
No par
Preferred.
5% Mar
63% Mar
8% Feb
July 24
6
13
Mar
24
Feb
4
July
19% Apr
20%
1834
20%
116%
65%
Dec
Jan
Dec
Dec
Dec
70% Nov
68% Deo
30
Nov
1534 May
112
Oct
Mar 26
132
Feb
152
Deo
10% Mar
12% Mar
5% July
27
Nov
25%
16%
21%
3334
8%
Dec
Jan
Dec
Dec
Nov
42
Aug
22% Aug
7
15
July
5
Aug
Mar
11% Feb
78
42
Feb
Apr
59% Apr
3% Mar
3% June
July27
111
9% Mar
15% July 29
83
53% Mar 20
85% July 31
108% July 31
13
70% Nov
107
Deo
8%
Dec
8%
Oct
July 31
3634 Jan 25
24% Aug
29% July 27
12
28% May
July
42% Aug
22
Mar
Nov
Jan
,32% July 28
13% Jan
Mar
111
20
160
101% Mar 18
5% Apr 30
678 Jan
73%June 10
29%May
1578 Apr 30
63
46% Nov
15% Apr
10% Aug
107% Jan
Dec
16% Dec
7% Feb 29
3434 Mar
55
99
Jan
July
34%
Mar
6
17
21
Jan
Oct
Jan
114
6% July
63%June 12
44
Mar
4%
6%
60
2812 Jan
Jan
734
53
127
34
5% Nov
50
40% Nov
29% Dec
4
Jan
Mar
3% Mar
July 12
14% Jan 25
36% July 31
7
Mobile & Ohio stk tr ctfs 100
7%
Dee
9
Mar
124
20
Spalding (A G) & Bros.No par
1st preferred
100
Spang Chalfant & Co Inc pflOO
110
Nov
17
12% Dee
2534 Nov
19% July 25
23% Jan
2
12% Apr 27
200
111
70
7% Mar
7% Mar
34
378 July 29
Apr 27
Jan
69% Nov
4% Nov
32
12%May 20
110
Mar 4
19
Mar
16% Apr
June 20
Jan
Dec
3678 Dec
478 Jan
1% May
Apr
40% June 30
22
Nov
1% Dec
3
40
Jan
131
Jan
200
24
23
£22%
2534
25%
26%
52%
52%
52%
52%
83
82%
80%
82%
80%
84%
8234
110
*107% 110
*107% 110
*107% 110
28
2834
28%
28'4
28%
28%
28%
18
16
16
15%
15%
15%
1534
23%
26%
52%
52
24%
28
*27
80 "
83%
80%
83%
83%
*107%
*10778 112
*107% 112
27%
281,1
28%
2734
27%
*125% 127
*8%
*66
■
22%
23%
28%
70
30%
*83
'
*51%
,
July 27
Apr•17
Apr 17
Feb
100
31
91
% June
% Aug
20% Mar
2% Oct
7
72
—100
Preferred
Jan
75
25
100
Apr
55
95
150
Southern Railway
20%
40%
20%
8
Mar 31
2
25
Southern Pacific Co
39%
4% Nov
20% Jan
7
7
7
25% Aug
26
Southern Calif Edison
56% Nov
1% Apr
Oct
6% Jan 15
31% Mar 30
132
Apr•U
**
...100
Preferred
10,100
Jan
Mar
60
No par
So Porto Rico Sugar
32%
40
40%
*50
South Am Gold & Platinum..1
6
97%May 29
8% July 15
6578 Jan
100
400
.No pa
3,100 Snider Packing Corp. ...No par
57,300 Socony Vacuum Oil Co Inc..15
200 Solvay Am InvtTr pref—-100
Jan
22
July 16
55
preferred
Smith (A O) Corp
7%
46
10434 Mar
4% Feb
Mar
Slos8-Sheff Steel & Iron—100
20%
40
112
410
152
39%
19%
100
;
120
28%
31%
Preferred
86
4%
40%
25
23% Nov
Dec
84
19% Jan
£3%June
19% Jan
60%
30%
3.4%
preferred
100
Silver King Coalition Mines.5
Mar
Feb 29
73
30% Apr
14% Apr 30
110% Jan 2
8% July
86
40
39%
Conv
Jan
12
31%
113% June
114% June
13% Dec
1% Feb
July
60%
115
31%
No par
Skelly Oil Co
9,700
129
*45
23%
152
par
Nov
14
4% Feb 7
43% Mar 12
7
Jan 17
4% Jan
43% Jan
par
4,500
4%
32
89
par
Jan
3
Apr
109
76
53% Jan 6
78 Jan 2
2
Apr 23
30%June 4
par
Simmons Co..........No j>ar
Slmms Petroleum......... 10
4%
31%
par
3,200
28%
31%
Shell Union Oil
par
2,000
4%
30%
No
Sharon Steel Corp
No
$5 conv pref
No
8harpe & Dohme
No
Conv preferred ser A.No
Sheaffer (W A) Pen Co.No
(F G)—
4%
29%
28%
31%
Shattuck
9%
35%
29
•
14%
100
7%
4%
46%
112
4,100
92%
35
64%
85%
46%
23%
5,900
*119% 122
129
1
Servel Inc.
13,800
25
9%
—-1
% June
Apr
2
1
4% Feb
20% Feb
3% July 24
Preferred...—
Dec
25% Dec
6
101% Mar
97% Feb 1
l%May 26
7%June 4
69% Jan 21
2%May 25
61%May 13
15% Jan "
11% Jan
20% Jan
1
Dec
10
10% Mar
8
Jan 20
52
3778 July 15
No par
Second Natl Investors
~
18%
28%
85%
257g
15%
200
9%
*61%
100
58
4%
'123
300
per share
102
114% Mar 11
16% Jan 13
8
June
Apr
113
Aug 5
110% June 30
11
Nov
3
35% Jan
108
Sears, Roebuck & Co..No par
200 Seagrave Corp
11,600
31%
35%
No par
100
Preferred....
4,300 Seaboard Oil Co of Del.No par
70
*56
122
34%
4%
'28%
500
3%
7%
7%
58
100
No par
4,200 X Seaboard Air Line
83
*67
92%
7%
*56
1
2%
3%
70
*92
778
57%
60
*112
"3%
1
Preferred
2,000
290 Scott Paper Co
'4%
25%
14%
60
112
4%
81%
1478
24
*86
14%
14%
112
4%
81%
3%
80%
100
preferred
5^%
3,800 Schulte Retail Stores..
34%
25%
61
23%
1078
62%
*67
57
Jan 24
July 29
Preferred
82
10% Feb 19
2934 Feb 28
3% Mar 4
6% Mar 4
14
July 21
33
July 27
2
2
2
1% Jan
2% Jan
7% Jan
18
500
*10%
10
preferred..
100
J St Louis Southwestern...100
1st
Highest
per share S
$
117% Feb 19
74% Apr 28
5%June 1
22
July 7
■
No par
6,300 Safeway Stores
120
6% preferred
—100
160
7% preferred.^..
100
3,400 Savage Arms Corp 1
No par
8,7.00 Schenley Distillers Corp.
5
1%
34
$ per share
*i:27
99
1%
*61%
%
2%
% per share
-100
80
13%
*98%
50
39
3%
70%
23%
13%
31%
13%
82
2478
14%
2,900
38%
62%
V
1
*2%
2%
33%
34
Highest
1,100 X St Louis-San Francisco..100
5
14%
*3%
*68
9,800 St Joseph Lead
257g
2%
38%
1%
10%
Par
500 Ruber'dCo(The)cap BtkNo par
ioo Rutland RR 7% pref
100
•
6%
137g
80%
87
24%
.
*4
4
32
32%
32
32
18%
19%
19%
19%
*120% 122
123% *119% 122
9%
9%
9%
9%
9%
34% 35%
35%
36% £35
4%
4%
4*4
4%
4%
28% 29%
28%
29%
2912
129
124% 124% *124
130
*46%
28%
10%
*61%
*31%
187g
47%
25%
14%
27%
1078
60
47%
28
2%
478
*98% • 99
62%
1
87
48
25%
31
1%
59
*46%
24%
127g
1%
87
58%
*82
*12%
2%
4%
13
4%
86
38%
137g
4
77g
58
*57
58
99
2478
*29
39
1%
847g
*5%
2478
2%
28%
99
*92
93
7%
77S
7%
*57
1%
*92
93
*92
28%
13%
38%
81%
3%
70%
247g
14%
24%
*3%
81%
34
31
•
6%
24%
2%
4%
12%
31
*11%
13
1
2%
34%
4%
2%
2%
4%
39
%
*2%
33%
*3%
37S
7%
12%
38 %
1
82%
93
112
25
*5%
6%
25%
Year 1935
Lowest
Lowest
Week
109
112
61%
82
59
*108
112
*10%
34
7%
109
112
11
34%
4%
*57
109
112
62
34%
*2%
*92
108
112
84%
*5%
Range for Previous
Lots
EXCHANGE
Shares
29
108
99
1%
11
617g
2%
*68
28
108%
112
*98%
6U2
1
2%
*3%
7
*108
2%
4%
*11%
*28%
28%
1%
%
2%
Aug.
On Basis of lQO-share
STOCK
NEW YORK
the
$ per share
*81
*5%
24%
12%
39%
99
99
6
$ per share
*82
847g
*110
25%
2%
5
1278
31%
29
108%
112
111
*11118 11134
Aug.
Friday
8478
6%
25%
2%
4%
127g
32
287g
84%
86%
5%
86%
87
6%
24i2
212
5%
♦8412
Thursday
Range Since Jan. 1
STOCKS
Sales
for
Wednesday
Tuesday
Monday
Saturday
Aug. 8, 1936
31
Nov
7%
8%
33%
4378
101%
Mar
...
36% May
18% Dec
15% Oct
Mar
Feb
48
Nov
84
Mar
July
Oct
105% Nov
31% Apr 13
21% Apr 27
14% Apr 19
120% Jan 10
18
Feb 24
129
Feb 24
12% Sept
122% June
19%
130
Jan
Apr
'
7%
17
38
36%
*20
7%
16%
17
16%
44
44%
43
50%
50
49
3%
48%
*3%
17%
43%
49%
3%
*3%
3%
37%
36%
3%
37%
36%
7%
17%
3%
51
*3%
7%
7%
38%
37%
36%
38%
37%
37%
37%
37%
37%
62
25%
63%
*24
61%
28
30
*29
30%
*29
73
73
*73
73%
*20
25%
3%
11%
*45
61%
3%
*11%
9%
45
16%
*43
45%
51
9%
9%
50%
17%
*44%
°
*9%
7%
9%
9%
7%
50
3%
11%
*45
7%
25
62%
63%
37
*23
73
73%
3%
74
3%
11%
11%
18%
1978
20%
1178
12
82
*80
*120
*80
121% *120
121%
36%
36%
36%
4%
-4%
4%
36%
4%
1378
13%
35
35
*8%
8%
20%
31%
*178
20%
31%
13%
2
7
7
'
7%
*
7%
38%
38%
36
36
11%
11%
10
10
*925
1100
*45%
*925
48
~
37%
37%
*5834
63
*10
10%
*80
*834
6%
*29
90
9%
6%
30%
9%
9%
*31%
5%
31%
*27
29
17%
5%
17%
*104% 105
*45
54%
19%
64%
13%
20%
*12%
19%
65%
13%
20%
13%
10
9%
*102% 103%
*5%
8%
6
8%
14
8%
33%
8%
20%
*31%
1%
20%
20%
31%
31
13%
13%
13%
7
7
7
7%
7%
7%
39%
36%
38%
39%
36%
11%
11%
10%
36%
47
*925
6
28%
17%
7
30
9%
31
6
6
8%
6
-
-
14
14%
14%
34%
14%
2,800
Superior Steel
33%
3434
1,700
8%
8%
8%
700
2034
20%
20%
9,100
31%
31%
31%
31%
1,600
2
1,200
J Symington Co—uNo par
14
3,700
6%
700
7%
7%
6,000
*6
47
47
200
Texas
*35%
37%
600
Thatcher
61
*60
61
10
*9%
*80%
834
10
*9%
*89%
10
*90
934
10
6
6
*29%
*9%
90
934
6
6%
30
*2634
10
934
30%
6%
30%
6
6
29
29
29
17
17%
105
30%
105
30
6%
10
105
600
;
100
30%
2,800
6
6
4,700
2834
£17
105
17%
105
500
7,300
500
3l" 600
7,600
10,800
12,300
12%
1234
12 34
934
9%
9%
10'x
3,600
10,300
105% 105%
500
6%
*8%
27%
9
300
27%
28
4,900
36%
37
37
37%
4,600
13%
13%
13%
1334
4,000
84
84%
84
85
85
86
3%
3%
3%
3%
3%
3%
3%
83% 84
83% 84%
85
84%
85%
85%
126',6 126',6 *126% 126% *126% 126% *126% 126%
42
42%
42
42%
42% | £42
4134
4134
3,000
14%
14
88
85
87%
14%
85%
3%
708.
27%
37%
14%
86%
6%
8%
6%
The
Pacific
1,900
390
1,900
10
1,000
Jan 28
124%May 15
40% Mar 18
Jan
2
6% Mar 12
9% July
8
14% July 28
Jan
3
36
6% Jan
4
23
25
Apr 28
Apr 28
Jan 3
Jan 2
634May 14
5% Apr 27
28% Jan 6
20%
28%
1%
5%
33
Jan
July 27
9% Feb 14
Jan
6
35% Jan 30
2% Feb 11
14% July 24
9% Jan 8
10% Mar 11
40
July 22
6
3834 Feb
3
•
Thermold
2
49
No par
pref
Fair...
33% Apr 27
44
59
Co. 100
.....Nopar
,...100
Co
1
Third Avenue
100
Third Nat Investors
Thompson (J R)
cum
pref
Tidewater Assoc Oil
Preferred
Timken Detroit Axle
89
June
No par
No par
100
No par
10
TrI-Continental Corp..No par
6% preferred
No par
No par
Truscon Steel
10
20th Cen Fox Film Corp No par
Preferred
No par
Twin City Rap Trans..No par
100
Ulen & Co
110
4
2
5
3
10%May 19
7% Jan
93
19% Feb
106% Mar
60
8
12% Jan 6
56
Apr 27'
11
Apr 30
14% Jan 2
3
Jan
6
4% Jan
7% Apr
22% June
31% Apr
834May
65% Jan
30
1
27
20
22
6
Feb 28
32% July 31
8% Mar 23
3934 Feb 25
24% Jan 2
4% Jan 21
Apr 30
1434 Jan 6
100% Jan 3
July
8
12% Feb 14
26
51
Jan
12% Mar 5
9% Feb 18
30% July 29
8%May 23
8% Jan
July 21
62% July 27
14% Mar 5
8%June 16
3% Jan
2334June
Transcont & West'n Air Inc. .5
Transue & Williams St'l No par
Preferred
Jan
Mar 25
1
Timken Roller Bearing-No par
Transamerica Corp
No par
Truax Traer Coal
28
25
Thompson Prods Inc...No par
Thompson-Starrett Co.No par
33.50
2
Mar 12
Jan 11
No par
Ry
Mfg
conv
Tide Water Oil
1234
*103% 105%
25
Preferred..:
.
8,800
2834
54% *47
*47
54%
54%
20%
19%
19%
2034
19%
64%
6234
63
65
63%
13
13%
13%
13%
13%
21
22
21%
2134
22%
12%
100
30
*9%
.
&
33.60
_
Jan
Oct
Feb
15% Feb 29
7% Jan 6
14% Mar 6
9%June 30
Feb 18
100 1000
July 15 1375
37%
6
14%
Corp (The)
46%
83s
27%
14
Texas
Texas Gulf Sulphur
.No par
Texas Pacific Coal & OIL...10
Texas Pacific Land Trust....1
Old
8%
37%
5
*35%
17%
*104% 105
105
Tennessee Corp
*43
10
12%
9%
5
*60
8%
....No par
Telautograph Corp.
61
30
21%
Class A.
37%
*9%
13
*900
100
Sutherland Paper Co.
10
Sweets Co of Amer (The)...50
Swift & Co
25
Swift Internat Ltd
No par
6%
Jan
3
20
Deo
4%
8
May 18
27
Mar
32
118
Oil.
1
23
3
Feb
4
107% Mar 11
Feb 29
10% Feb 18
32% Mar 2
2
41
Mar
15
July 30
91% July 29
8% Jan 20
Deo
Dec
1878
15%
Dec
Dec
1034 Nov
77
Nov
121
Mar
30%
Dec
3% I)ec
1234 Aug
25
Dec
9
Sept
15
2234
Dec
Sept
32% Dec
% Apr
1% Apr
6% Sept
4
Mar
16% Mar
2834 Apr
3% Jan
8% Jan
1050
33% Dec
,
1% Nov
6%
14
Dec
978
Jan
834 Dec
30% Dec
3634 Feb
9%
Oct
12% May
Dec 1075
Dec
Apr
13% May
28% Dec
50
61
May
5% Apr
61% Jan
2% Mar
443s
12%
100
Dec
Nov
Oct
Oct
10% Dec
2
June
5
Jan
16
Mar
29
Nov
5%
Jan
13% Mar
1% Mar
Apr
7% Mar
17
84
Jan
4% Mar
16% Jan
Deo
50
Mar
2634 Mar
72% Feb
1434 Feb
27% Apr
Nov
4
10
1778 Oct
3% Mar
7
18
25
4
2
2034 Aug
7
6% Mar
2% Mar
2% Apr
60% Mar
115% Jan
xll
Apr
1% Jan
5
68
Mar
Mar 11
"
12
4
36
28% Mar
478 Mar
7% Mar
5% Mar
178 Mar
69
Apr
3% Oct
3% Mar
Aug
13
24%
Oct
2% June
18
Mar
1% June
5334 Mar
..No par
Under Elliott Fisher Co No par
2%June 30
74%June 29
99
Jan 13
Preferred
.100
Union Bag <fe Pap Corp.No par
125% Apr 23
133
Jan 17
125
Dec
52% Feb 19
29
May
38%May 21
Apr
4078 Dec
3338 Dec
32% Nov
Preferred...
100
Superheater Co (The)..No par
No par
2% Nov
116
52%
91
Sun
5
.
Jan
27% Mar
12% Mar
5834 Jan
1% Mar
3% Mar
6
72
Stewart-Warner
48
111
3534 Mar
Feb
No par
50
Superior Oil
6%
7%
Jan
2%May 21
8%May
26% Dec
2878 Dec
78 July
Mar 19
30
70
6
9
16% Apr 30
14% Jan
9% Jan 6
Convertible preferred
33%
*8%
20%
2
10
par
No par
2434May
1234 Jan 8
53% Jan 28
24% Apr 16
21% July 27
14% Mar 4
13,400
6%
-*29%
19%
63%
65
Preferred
t Studebaker Corp (The)
10%
*47
Sterling Products Inc
Sterling Securities cl A.No
23,700
"300
■
Mar
Mar
Mar
33% Feb 10
74
July 21
Mar 27
25
51% Jan
11%
110
10
Standard Oil of New Jersey.25
Starrett Co (The) L S..No par
11%
1100
534
Standard Oil of Kansas..
11%
2,400
6
55
July
12% Deo
9% Aug
11% Aug
Mar
Mar
9
50% July
28
30
9
113% Jan 24
47% Feb 8
40% Feb 5
1138
81
9
2%
1%
1%
4%
1938July
Standard Oil Export pref. .100 xl09%June 8
Standard Oil of Calif
No par
35%June 10
Standard Oil of Indiana
25
3234 Jan
Stone & Webster
*80%
2
13% Mar 17
9% Feb 17
29
30
334 Jan 17
15,400
81
9% July
5% Apr
9% Jan
2434 Apr
2634 Apr
Feb 26
20%
10
30
No par
Stand Investing Corp ..No par
1934
13%
90
prior pref
20%
10
6
No par
cum
37 cum prior pref
19%
2
45
$6
6,400
13%
10%
No par
19%
2
1100
Preferred
1834
1100 *900
9%
*925
1
18%
13%
7
Comm Tobacco
18%
7,700
6,400
8%
27%
3634
1334
37
-
m
4,600
8%
37%
14%
42%
m.
19,800
6
37
*42%
*
6%
*7
36%
For footnotes see page
14%
33%
8%
20%
31%
17
28
3%
'
11%
17%
27%
84
83%
*126',6 126% *126',6 126%
*44
36%
28
28%
42%
*80%
4934
39%
28%
27%
42%
*44
3834
8%
28
3%
600
36%
11%
9
105
104% 104% *104
*46
54% *48
54%
19
19%
19%
19%
65
65%
6434 65%
13
13%
13%
13%
20% 21%
21% 22%
13
*12%
13%
*12%
10
9%
9%
9%
104
102% 102% *102
3%
83%
1,200
3%
*11%
11%
90
30%
534
*26%
17%
3%
83%
1,700
3%
11%
4934
73%
338
11%
36%
8%
27%
36%
*86
73%
73%
3%
11%
39
9
31%
6
73%
200
11%
9%
90
*6
14,100
36%
*43%
*35%
*5934
*9%
*80%
*29%
38
11%
64
6%
37%
11%
37
30
37%
36
*35
10
37%
7%
38%
*59%
*9%
*80%
10%
11,100
7%
39%
36%
*43%
31
*8
*6%
7%
38%
63
*9%
17
10%
1100
38%
2
37%
9%
5%
11%
37%
13%
*1%
13
47
-
*9
*27%
2
36
10%
1100
*59%
10%
*80%
*8%
6
13%
34%
*8%
20%
*45%
*29%
13%
2
37%
122
120% 120% *120
£118% 11834
36
35%
35%
35%
34%
35%
4
4
4
4%
4%
4%
34
31%
37%
500
121
8%
1%
13%
6%
7%
38%
35%
11%
10%
V 500
32,300
80
14%
31
13
3%
*3
3%
900
29%
80
*45
34%
13%
34%
*8%
20%
2,800
25
81
36%
4%
50%
63%
11%
4
49%
25
11%
36%
44
49%
29%
81
82
4,600
10,600
62%
121
12
18%
7%
17%
44
25
11%
18%
20%
18%
19%
11%
7%
16%
29%
20
*3%
11%
'
18%
$ Stand Gas & El Co...No par
7%
1634
43%
63
18%
19%
50
Stand
*23
18%
20%
*45
50
3
9,400
11%
62%
*28%
73%
3%
11%
49%
18%
20%
11%
3%
43%
49%
11%
63%
29%
*29
11%
7%
16%
12
25
62%
30
11%
878 Nov
2634 Nov
5
Dec
28
Dec
1578
Dec
104% Nov
48
13%
Dec
Dec
72% Nov
14
Dec
15% Nov
16
Dec
8% Nov
97%
678
8%
2478
Nov
May
Nov
Dec
33% Dec
12% Nov
73
Dec
5% Nov
87% Dec
133
50%
Apr
Jan
Volume
New York Stock Record—Concluded—Page 10
143
LOWLAND HIGH SALE PRICES—PER SHARE,
Saturday
Aug.
Monday
1
Aug
$ per share
95
96
22%
22%
3
.
9434
*97%
98%
*27%
28
98%
*26%
27%
18%
27%
18%
23%
2634
*20%
2634
*11234 115
98%
28
27%
80%
*79
29
*28
8%
48%
1378
8%
8%
48%
48%
14.
13%
*2714
2734
27%
*102% 103
*102%
5
*434
*36% 37
36%
8334
8334 84
*2%
6%
37%
"36%
7
12%
8534
*84
4934
49%
9
9%
32%
76%
313s
75%
74%
71%
<75
71%
65
65%
143
17%
17%
15%
27%
*26%
6%
85
7734
99
1434
15%
5
1%
1%
34%
34%
20
20
44%
----
47%
*79
15
4%
3134
114% 114%
4%
22
128
*70
..
-
*»
1,000
•
-
.
«
-m
-
*94
95
15
16
1534
26%
99
United Carbon
United-Carr Fast Corp .No par
United Corp«+mmmmmmmmNo par
77,200
9,500
15,400
2,400
20
74
*7%
*4%
*14%
*32%
*117%
7%
3234
*18
20
*3%
*73
1178
*5334
*34
8%
*18%
27%
24
No par
5
^
United Eng & Fdy
United Fruit
2,900
27,400
1,800
430
27%
9934
3,100
1,000
80
6,400
*35%
35%
"34%
35%
~34%
6%
6%
11%
634
6
6
1,500
12%
12%
12%
1234
2,900
8534
84
84
*84
6%
1134
8534
6%
11%
6%
1134
6%
12%
85%
51%
5034
54%
87%
5434
87%
55%
18.400
834
51%
8%
52
9%
8%
30%
9%
31%
76%
*84
49%
8%
32%
-
834
*84
53%
55%
9
9%
9%
31%
74%
74%
33
32
3234
31
77%
75%
7512
76%
74%
75%
74%
7234
76%
75
75
74
*71%
72%
*71%
6434
66%
*71%
64%
72%
66%
76
132
64%
132
132%
143
*140
72%
66
132%
143
"32
30%
71%
64%
140
35%
IITOOO
400
4,200
41,000
14,100
76%
5,900
72
*70
200
6734
84,900
131% 132%
2,700
65%
132
140
143
75%
75%
71%
66%
131
131% 132%
*140
"34%
*135
6%
*8134
6%
107
*82
77
*7534
*158
165
*158
108
108
108
1
5''
4%
1%
36
*114
44%
.
-
---
47%
*7934
36
20%
20%
44
4334
*114
48
*47%
1%
36
20
-
---
43
*114
47%
79
4%
31%
4%
4%
140
29%
100
114
114
114
23
23%
*126%
23%
73
*19
*70
*72
165
20%
4334
..
-
-
1%
%
1%
;
20%
43%
42%
115
47%
115
*35
203S
16% Apr 27
24% Mar 18
112i2July23
68
Jan 21
22!%
5%
40%
IO84
Jan
43%
47
^
4
July 10
No par
......1
No par
United Gas Improve...No par
Preferred....
No par
t United Paperboard
100
U S & Foreign Secur
32i8June 18
66% Jan 2
1438 Apr 30
109
20
320
38,300
21
4,100
45
3,500
47-%
1,000
40
4%
4%
29%
3,400
4,300
*113% 115
*113% 114%
434
434
434
434
260
23%
-
>
»
72
>14%
*70
84
30
80
18
20
129
200
71
72
18
129
22
*127%
71
60
*122% 125
*122% 125
*122% 125
*122% 125
*122% 125
234
234
2%
2%
*2%
2%
*2%
2%
*2%
2%
*7
7
7
734
7%
634
7%
7%
738
7%
7
7
7
534
7
*4%
*4%
*4%
*4%
*4%
1434
1434
15%
15%
15%
14%
1434
14%
14%
1434
14%
33
34
33%
32%
3234 3234
33%
*33%
33%
33%
33%
118
118.
*117% 118
118
*117% 118
*117% 118
*117% 118
8
7%
714
7l2
7%
7% 1
8% :
834
734
8%
7'2
1
33
33
33
33
32%
3234 33
3234
3234
32%
3234
19
*18
18
18
*18
18%
*17%
*17%
18%
18%
18%
21
20
21
*19%
*19%
19%
19%
*19%
19%
20%
20%
3%
*3%
334
334
3%
*3%
3%
3%
3%
3%
3%
75
75
*71
73
75
*67.
73
75%
73
75%
*70%
12 "
12
12%
12%
12%
11%
12%
11%
12%
12%
12%
56
56
*51
*51
*5334
5334 5334
53%
53% *51
53%
:
%
%
%
*34
%
%
34
h
«4
*84
%.
8%
8%
8%
8%
8%
8%
8%
8%
8%
8%
8%
*19
24
24
*20
24
*20 •
*20
22%
23%
22%
22%
27
27
27%
*26% 27%
*26%
27%
*26% 27%
27%
27%
24
23% 23% *23% 2434 *23
24%
*23%
24%
*23% 24%
3
June 10
31%
32%
21%
2884
Feb 7
Feb 18
Apr
Mar
28% Jan
117
4
6
6
83% July 21
29% Apr 13
9% Feb 17
48% Aug 4
16% Feb 4
28% July 14
46
17%
1%
2O84
834
4%
105
June
2
7% Apr
38% Aug
1
4
July 30
85
7%
24%June
80% May
preferred..........100
U S Hoffman Mach Corp
160
Prior preferred v t c
U S
100
Pipe & Foundry
..20
U S Realty & Impt
U S Rubber...
.No par
No par
1st
U S
preferred.
Smelting Ref & Min
100
60
Preferred
i............. 60
U S Steel Corp...........ipo
.
.
Preferred
100
2
'64 July 14
2,400
10
60,100
2,300
100
500
600
200
40,900
100
300
3,200
100
Jan
8
21is Jan 6
7% Apr 30
16% Jan 2
47
Jan
2
72i4 July 30
68% Jan 3
46% Jan 21
Mar
5
Feb 15
Feb 18
16% July 24
% July 17
59
Apr 2
9% Jan 27
1838 Jan 28
87% Aug 7
5538 Aug 6
13
Jan
35
Apr 15
4
72% Apr
9
7
115
7
1
2
..No par
1
July
9
100
30
June
9
Vanadium Corp of Am.No par
Van Raalte Co Inc..
6
16% Apr 30
2834 Jan 16
100 1110% Feb 17
40
5
Apr 30
7% 1st pref
Vick Chemical Co.
Vlcks Shr & Pac Ry Co comlOO
72
May
6
Va-Carollna
4% Jan
2834 Aug
7
6
Chem
No par
6%
7%
Va
preferred
100
preferred^;,...*,..100
El & Pow $6 pref...No par
Virginia Iron Coal & Coke.100
preferred..!.......100
6%
X Wabash
100
Preferred A...
..100
Walgreen
6H%
100
_
Waldorf System
No par
..No par
Co
100
preferred..
X Walworth Co...
No par
Walk (H) Good & W Ltd No par
Preferred
No par
Ward Baking class A...No par
Class B
No par
100
Preferred...
5
Warner Bros Pictures
$3.85 conv pref
.No par
No par
t Warner Quinlan
No par
Warren Bros
Convertible
No par
No par
pref
*
300
Warren Fdy & Pipe
200
Waukesha Motor Co
5
July 30
168
July 10
7% Mar 26
Aug
7
86
78% July 29
Aug
6
Apr 7
3% Mar 24
2234 Mar 23
6% Mar 2
238 Jan 18
50
Jan 18
27% Feb 19
45
July 23
7
2
4%June 29
9% Jan 7
Apr 30
115% Apr 2
5% Jan 3
26% Apr 17
17% Apr 17
30
10% Jan
4
2% Apr 29
15% Jan
7
Apr 30
19% Apr 28
3
27% Mar
73% Mar
119% Jan
14934 Feb
3% Apr
46
Apr
51
48
119% Nov
14034 May
165
Aug
7% Jan
78
Oct
Mar
133%
29
73% Nov
Feb 1159% Deo
73
Aug
%
Oct
9%
Oct
Nov
Mar
2% Jan
1938 Mar
4% Aug
% Mar
19% Apr
11% Apr
56% Nov
2134 Jan
1
2
Nov
Nov
79
63
Dec
63
2% Mar
17% June
37
Aug
3
9% Feb
8
30% Feb
7
7
129
86
Aug
Feb 19
137%June 10
4% Feb 5
10% Mar
3
784 Mar
6
16% July 21
34% June 24
118
Jan 16
10
Feb 28
11%
85
72%
Jan
Jan
44% Dec
Deo
4% Pec
Dec
120% Oct
112% Dec
7% 1/ov
2
June
15
Feb
33
Nov
63% Mar
109% Feb
1
Apr
134 Mar
83
May
1
May
4% Mar
26% June
U734
3%
534
4-%
9%
Dec
Nov
Deo
Dec
Nov
Jan
114
1%
33% Dec
120
Apr
Feb
6% Nov
34% Feb 21
19
24
Feb 25
July 21
4% July 21
67%
2%
10%
2534
21
73
Sept
22% Dec
Jan
1484 Mar
Nov
44
2
63
33
79
4% Jan
7% Mar
114
47% Jan 2
9% Apr 30
Apr 29
%June 18
50% Nov
9% Sept
16% Sept
3% Mar
Feb
114%May 15
Jan
35% Mar
Feb
Jan 23
5
Dec
May
Apr 27
238 Jan
Nov
10% Nov
34
Mar 24
4
87
165
Feb
91
4
May
Oct
20% Oct
3938 Dec
6
Aug
109
14
Nov
3%
48% July 21
115
105
100 ill4% Jan 16
100
70%June 24
125
100
July 31
Virginia Ry Co pref
Detinning
Vulcan
144
8% Mar 16
48»4 Mar 19
133%May 27
•
5
Nov
96
17% Jan
Deo
124% Apr
7334 July
60% Nov
Jan
Preferred
15
Mar
4% Mar
143
Jan
Nov
11% Dec
9134 Dec
62% Jan
% Aug
13% Apr
3% Jan
6
18% Nov
110
96% Jan 24
75 % Apr
9
50
100
11
Jan
9284 May
11% Dec
Universal Pictures 1st pref.100
X Universal Pipe & Rad._-.-l
Preferred
Oct
Dec
9% Mar
24% Mar
165
Preferred
60%
7%
9
8084 Apr
Mar 23
United Stores class A..No par
96
3% July
Mar
153
100
131
1384 Deo
20% Deo
9% Mar
100
Preferred..
J
1,700
71
Mar
Mar
65
87% Mar
2%f Jan
4% Mar
65% Mar
% June
5
July
133% July 31
No par
Preferred B
"2", 100
3U2 July 29
6
Aug 7
105% July 2
Feb
Mar
June
9
115% Jan 7
Apr 27
I6O34 Feb 6
5
Apr 30
6734May 1
57% Apr 29
U S Tobacco.
Preferred
""560
7%
534
6
8% Jan
5
U S industrial Alcohol.No par
U S Leather v t c__
No par
Class A v t c
..No par
May
4
8
Nov
24% Dec
734 Nov
4584 Nov
7
Feb 17
Jan 23
Jan 2
No par
20
Aug
78
Oct
8
19%
39%
110%
169%
U S Freight
U S Gypsum
Nov
26% Jan
Jan
12% Feb
Jan 23
Apr 29
20
118
1938 Jan
113% July
20
10
Dec
Ja n
July
July
Dec
Deo
Mar
Oct
6% Apr 30
13
Apr 30
...100
7
7534 Nov
24
111%
90%
26%
30%
1384
20% May
111
5
Preferred
9% Mar
4% Mar
Jan 11
99
Vadsco Sales
29%
>
100
9
Utilities Pow & Light A
40
4%
72
Feb
82% Mar
79% Mar
20% Oct
4
2,600
4%
1%
36
29%
*19
Jan
1434
7
Jan
5,350
6,900
4%
*127%
73
44
7
Jan
No par
2834
534
7
7
2
No par
4%
30%
*4%
Jan
Aug
28% Feb
14334 Aug
91
Preferred
Preferred class A
*7934
*7934
9
100
Highest
$ per share $ per share
No par
100
Universal Leaf Tob
47%
84
84
Apr 30
Apr 29
Apr 27
Jan 15
400
%
22%
6
Jan
200
*114
47%
w'. -
12~906
165
1834
434
1%
35
20%
m
_
107% 108
1
35
6%
2
15
76%
*162
*100% 10734
%
%
15
1834
434
5%
4%
■■
Jan
93
86
*75
165
*113% 115
534
*125%
85
76
.
4%
29%
84
*4%
534
*4%
684
634
i83%
76
1%
36
_
*7934
3034
114
6%
*82
*165
16%
«.
47%
4%
31%
*165
108
4%
1%
-
165
14%
4%
-
634
83%
7634
%
16%
*35
20%
20%
*43%
1
%
15%
434
1%
15%
1%
*34%
6%
8334
107%
%
15
•
*75
7734
161
7
6%
8334
84
7734
*165
Jan
10
'
*165
7
Lowest
U S Distrib Corp......No
par
1 00
3%
1434
12%
35%
3
ioo
United Electric Coal
125
"*2%
Preferred
United Drug Inc
United Dyewood Corp
Preferred
3,300
1534
.15%
No par
3,500
161% 161%
16
United Amer Bosch....No par
Biscuit
No par
Preferred
ioo
United
700
95
*2%
*13
No par
Transp Corp
400
"§512 "37"
79
128
2634
*94%
3%
3%
*2%
*13
14%
1434
2634
*26% 27%
99
99
100
*161% 162
162
Jan
13
Union Tank Car
Rights
%
15
*16
*13%
98%
161% 161% *161%
162% 162%
161
*107% 10834
%
14%
27%
99
95
*2%
3%
27
99% 100
14%
*94
95
*2%
ioo
Jan
Apr 30
5
800
95
Preferred
7158
207s
108i2
90%
5
200
*14
100
Year 1936
$ per share
Un Air Lines
10
3%
Union Carbide & Carb.ATo
par
Union Oil California
25
Union Pacific
$ per share
United Aircraft Corp
300
112
*2%
Par
30,700
'
Range for Previous
Highest
34^500
10
*165
165
*
20%
<
100-share Lots
2
225s Jan 2
20% Apr 30
112
*140
„
4%
28
2734
500
,
75
132% 132%
4%
3134
26%
18%
3,900
6%
*6%
12%
47%
*26%
"
17,800
4,700
140
95
2734
*
*43%
22%
14012
98%
98%
23
*19%
22%
*20%
27
2634
2634
£26% 26%
2634
114% *U234 114% *11234 114% *11234 114% *11234 114%
81
*79
81%
80% *78
81%
80%
81%
80%
29%
29
*2834 29%
*28% 29%
2834
2834
28%
8%
8%
8%
8%
8%
834
8%
8%
8%
4834
48% 48%
47%
48%
48% 48%
47% 48
14
1334
14%
13%
1334
14%
14%
1334
14%
28
28
2734
28%
28%
27%
2734 28%
27%
105
103
103
*102% 103
*102% 103
103% *103
5
4%
4%
4%
4%
5%
4%
4%
5%
37
38
38
38
36%
38%
3734
38% £37%
84
85
84
8334
83% 84%
83% 8334
8334
15
101%
*161% 162%
1434
14%
*114
98% 100
22% 2234
14334
*97%
98%
*26%
2784
26%
26%
20%
20%
*22
22%
97%
22%
140
Range Since Jan. 1
On Basis of
Lowest
Shares
$ per share
881
EXCHANGE
Week
7
.
*94
3%
99
5
Aug
*18%
15
14%
*26%
14%
6
95
•94
*158
96
.
1834
18%
6%
*8134
*76%
Aug
STOCKS
NEW YORK STOCK
the
CENT
Friday
17
17%
178s
17%
17%
17%
17%
17%
*111% 111%
*111% 112
*111% 112% *111% 112
10%
*934
10%
10%
9%
10%
*934
9%
18
18
1834
18%
*17%
18%
18%
18% 18%
11134 11134
*10%
1034
*165
1934
27
80%
*140
2734
18%
9434
95»4
22% 22%
138% 140%
*97% 98%
2634 2734
26% 27%
19%
19%
*20% 22%
2634 26»4
22%
27
*11234
17%
27%
19%
29
17%
$ per share
94%
95%
22% 23
137% 138%
99
*9734
27%
27%
139
*20
Thursday
S per share
4
.
NOT PER
Wednesday
Aug. 5
$ per share
95%
2234
22%
138
187g
Aug
$ per share
138% 138%
27
Tuesday
Sales
June 26
14% Feb 19
Feb
Feb
8
29
31
11
24
11
Deo
1% Dec
17
Jan
Aug
Aug
32
Sept
Dec
30%
Jan
2
6
4
85
6%
Mar
Apr
29%
Dec
52
Mar
11% Feb
Apr
28% July
Deo
1038 Dec
% Mar
2%
7%
20%
25%
Mar
Deo
3
47
Mar
5
1% Feb
28% Jan
2% Mar
14% Mar
Mar
Dec
4
*6%
7
*1%
42
*78
7
*6%
*6%
*80
*80
1%
42%
81
7
*80
1%
42%
;i%
41%
*78
*1%
40%
80
*78-
*80
1%
4134
80%
*10434 105% *10434 105% *10434 105%
*108
110
108
100
100
100% 100%
*121% 121%
*114% 115%
9%
9%
*17
18%
*2%
2%
6
6
8734
88 %
41
41%
139% 14034
*147
*26%
*37%
150
2634
38%
6%
109
107
108
100
100
121% 121% *121%
114% 114% *114%
9%
9%
9%
*17
*17
18%
2
2%
2%
6
6
534
86
87%
89%
42
41%
40%
139% 141%
13812
*147
148
149%
26%
263s
26%
37%
37%
*37%
29%
3012
29%
'
.
121%
115%
9%
18%
2
534
87
41%
140
148
6%
----
1%
1%
3934
79%
*10434
107%
*99%
121%
*114%
9%
*17%
40%
.
80
*6%
6%
6%
*80
*1%
39%
*80%
6%
1,200
*80
1%
*138
Preferred
"l% """IOO
40
3934
40
4,200
81
81
81
500
10434 104% *10434 105%
105%
108
108
108
107% 10834
100
100
100
100
101
121% *121%
121% 121%
115% *114% 115% *114% 115%
9%
9%
9%
9%
10%
*17
18%
1834
183s
18%
*2
;s 2%
2%
2%
2%
2%
6
6
5%
5%
5%.
634
86
86%
85% 87
8634 8734
39
30
40
40%
40%
4134
139
138
139
141%
14,0
14134
148
148
*148
148
148
149%
20
380
•
70
60
10
9,400
600
500
.
26%
26
37%
26
26
26
27
30
*37%
2834
29
28
*65
80
*65
80
*65
80
*65
80
*65
80
*65
105
*99
105
*99
105
*99
105
*99
105
99
99
27%
28
*27
28%
*27
27%
28
88%
90%
22%
*87
93
*87
22%
*14%
2234
1,800
11,600
11,000
16,600
28%
22%
1434
4
*22
*3i2
734
*74%
28%
1434
4
22%
3%
7%
75
72
53%
28%
72%
*63
64%
*88%
90
53%
*28
7%
73
7%
74%
03
71%
*59%
95
94%
66
66
42
42%
65%
41%
20%
95
65
65%
66
42%
21%
21%
*140
143
47
47
47%
74%
7534
73%
74%
*116% 118% *116% 118%
37%
35%
3534 37%
7%
7%_ 7%
_7%
7334
118%
3534
7%
For footnotes see page
872
734
*28
94
21%
3%
71%
93
140
3%
7%
*3%
22
29
91
21%
3%
734
4%
53%
63
473s
22
71
*60
140
22
52%
65
*42
93
22%
14%
29
*61
42%
2834|
*87
23%
14%
53%
72
65
*27%
93
28
53
28
*41%
27%
22%
14%
*3%
73
*71
53%
27%
*87
73
72%
64
74%
334
29
41
47%
8
15
71%
64
47%
334
734
3%
1
4%
22%
*22
74%
53%
2834
41
*%2078 21%
f42% 142%
4
22%
3%
93
23%
*3%
15
*3%
*22
27%
22%
14%
28%
*60%
92
21
140
38%
21%
140
4634
46%
75%
74%
76%
119
*117% U9%
36%
32% 36%
7% ,
7%
73*
73%
53
*37%
*87
2234
22%
14%
4%
22%
334
*3%
*21%
7%
73%
5438
29%
14%
3%
734
*73%
£53%
1% July 11
33%June 30
Conv preferred
No par
6% preferred....
9134 Jan
7
96
Jan
2
87
Feb 20
100
West Penn Power pref
preferred
Western
2d
.....100
100
100
Maryland
preferred
Western
6,100
100
Pacific
100
Western Union Telegraph. 100
Preferred..
...No par
Class A
900
500
16,400
2,500
Wheeling Steel Corp.No par
100
Preferred...
White
50
Motor
White Rk Min Spr
ctf..No par
Mach...No par
...No par
100
White Sewing
500
Conv preferred
Wilcox Oil & Gas
1,500
9,800
1,200
15,300
Wilson & Co Inc.
$6
5
No par
.100
preferred
Woolworth (F W) Co...
10
100
92
98
1,140
Wright Aeronautical...No par
65%
66
41
41
3,500
800
Yale & Towne Mfg Co
122
37%
7%
143% July 31
150
July 22
18
Mar
32% Mar
90
Feb
3334 Jan 25
10
29
1,000
60,600
360
1,600
35,900
1,000
30,100
3,400
10% Dec
Dec
Jan
7%
Jan
77% Nov
-3584 Dec
9884 Nov
126
Jan
Jan
Nov
1934
3%
Mar
3
39 '
18
100
3534
7%
3
1634 Mar
Preferred B
122
Feb 13
92
12038 Dec
11434 Dec
Dec
33% Dec
38% Dec
25% Nov
35% Sept
July 21
400
75
77%
119% 120
36
32%
7%
7%
95
48% Mar
5% Mar
7% Mar
1% July
2% Feb
20% Mar
July 29
62%
21%
7
Jan
June 24
62
47%
79%
9% Feb
Jan
95
80
62%
99%
6534
139
7
104%
99
..100
20%
Feb
4
91% Dec
99% Nov
Mar
32
Preferred A
47%
77%
36% Jan 14
1934 June 29
12% Feb 21
2034 Feb 24
Mar
36
Nov
55% Nov
84% OCt
39% Mar
Jan 14
290
138
8
Mar 23
Jan
July 21
7134
47
22%June
116
3
Jan
34
734 Nov
90
Feb
Jan
72
99
30
139
Apr 25
5% Jan 2
72%May 4
3434 Jan 13
94% Jan 6
123% Jan 7
l22%June 30
1
30%
34
524% conv preferred
71%
40
2
June 23
234 Jan 13
46% Jan 2
82% Feb 7
106
July 24
110
Apr 21
101
July 24
100
Westvaco Chlor Prod..No par
29
138
116% Jan 6
11134 Jan 6
8% Apr 27
15
Apr 30
85
Wheeling & L Erie Ry Co. .100
20
72
41%
21%
Feb 25
lOOf
Preferred.
6%
78
100
West Penn El class A..No par
Weston Elec Instrum't.N© par
28%
83
9
May 26
1
70
140
2284
1434
4%
22%
384
7%
74%
54%
.100
....
6%June
Wesson Oil & Snowdrift No par
Wells Fargo & Co..
1,100
e
38%
93
No par
Westingh'se Air Brake.No par
Westinghouse El & Mfg
50
1st preferred
-.50
80
*99
38%
29%
*37%
26
Webster Eisenlohr
Wortblngton P & M
Wrigley (Wm) Jr (Del) .No par
25
Yellow Truck & Coach cl B.10
Preferred
100
Young Spring & Wire__N© par
Youngstown S & T
5preferred
No par
...100
Zenith Radio Corp....No par
Zonlte Products Corp.
1
21% July
1
July
8
18% Feb
1334 July
3
84
7
3% Apr 28
Apr 28
16
234 Jan
7
37% Jan 10
109% Feb 19
28% Mar 4
17
Mar
6
5% Jan 13
24% Jan 10
6% Mar 30
6% June 19
11
Jan 14
June 20
87
Jan 15
70
4434 Apr 23
23% Apr 30
56
Apr 30
66% Feb 5
35% Mar 23
75
Mar 23
Jan
4
66
Mar 23
62% Jan
6
106
Mar 11
63% July 30
79
Feb 10
33% Apr 28
884 Jan 3
83% Jan
42% July
4l
Jan 23
47
4134 Jan
105
Jan
11% Jan 28
534 July 7
55
6
Jan
1
Mar
32%
102%
19%
24%
434
20%
3%
3% Apr
58
Apr
79
51
Nov
Nov
Dec
Jan
Dec
Dec
Dec
9% Nov
Nov
Jan
65% June
II34 Mar
25% Nov
25% Mar
20
Apr
35% Mar
73«4 Mar
1734 Apr
61
Nov
51% Nov
68
Deo
8234 Apr
35% Nov
9%
Dec
4
2% June
31% May
96
18
Mar
7
13
Mar
53% Dec
46% Dec
7
38% Apr
1% May
2% June
Apr
79% Aug
122
14% Mar
40i2 Jaii
6% Mar
12% Oct
1% Mar
.
July 29
21% Aug
145
Jan
Aug
6
39% July 31
93s Jan
4
105
Nov
Dec
1434 Nov
784
Dec
Bond
Complete
Service
Brokerage
RICHARD WHITNEY & CO.
Member*
Stock
York
Curb
On Jan.
A. T. & T. Teletype TWX, N. Y. 1-1793
disregarded In the week's
S3
EXCHANGE
3$
Week Ended Aug. 7
U.
S.
ne.
Range or
Sale
Friday's
Bid
Price
15
15
Treasury 4s
Dec 15
Treasury 3%S—.Mar 15
Treasury 3%s—-June 15
<fc
Low
Government
Treasury 4%s—Oct
Treasury 3%s
Oct
1947-1952
1943-1945
1944-1954
1946-1956
High
Jan. 1
No
A
O
118.17 118.6
118.17
78
A
O
108.13 108
108.13
171
Week Ended Aug. 7
J
D
113.21 113.14
113.22
53
M
146
Low
115.3
High
118.17
106.24 108.13
111
113.22
109
111.26
S' 111.26 111.15
111.26
108.21
14
106.17108.21
104.23
164
102.20104.30
105.24
494
108.8
Treasury 3%S—_June 15 1940-1943 J D 108.9
Mar 15 1941-1943 M S 108.28 108.28
108.9
3
107.19 109
Treasury 3%s
108.28
3
108
Treasury 3%s_—June 15 1946-1949 J D 106.12 106.3
106
Treasury 3 % s
Dec
15 1949-1952 J D 106.8
Treasury 3%s
..Aug
1 1941 F A 108.27 108.25
106.15
165
103.24 106.15
106.8
455
103.19 106.15
1944-1946
Treasury 2%s_..Mar
1955-1960
Treasury 2%s__.Sept
1945-1947
Treasury 2%s_.-Sept
1948-1951
Treasury 2%s—
.1951-1954
Federal Farm Mortgage Corp—
3%s
Mar 15 1944-1964
15
15
15
15
_
3s
A
O
M
S
102.19 102.13
M
S
104.1
M
J
S
D
108.2
107.22
103.23
174
108.5
181
105.12180.2
102.19
215
100
47
2%s
102.10
233
101.7
572
100.23 101.17
102.13
M
104.11
81
104.9
103.9
103.6
103.11
94
103.30
127
S
102.16
102.21
6
1 1942-1947 M
S
Home Owners' Mtge Corp—
3s series A
May' 1 1944-1952, M N
10|2.21
102.20104.20
100.26 103.14
101.20104.1
100.15102.21
♦Sink fund 6s Feb coupon on. 1947 F
♦Sink fund 6s Apr coup on...1948 A
103.4
348
101.23
307
101.23
134
103.2
102.28
20 H
A
O
M N
20%
99%
20%
20%
♦External
s
f 7s series B
.1945
J
99%
9%
9%
♦External
s
f 7s series C
1945
J
♦External
s
f 7s series D
1945
J
♦External
s
f 7s 1st scries.-.1957
O
9%
8%
♦External
sec s
f 7s 2d serles.1957
O
8
♦External
sec s
f 7s 3d serles.1957
o
8
Antwerp (City) external 5s....1958
Argentine Govt Pub Wks 6s... 1960
D
100
100
O
101 %
101H
1959
D
External s f 6s of Oct 1925.. 1959
5
8
7
10
1963
♦Antloqula (Dept) coll 7s A...1945 J
External
s f
s
f 6s (State
J
7
J2
100.17103.7
99.17.101.29
7%
10
8%
8%
100%
101%
101%
6
8
10
15
28
10 '
7%
95% 101%
7
97% 101%
44
100 %
100%
101%
101%
27
101%
D
101
100%
101
10
24
100H
101%
9
101H
101H
101%
16
A
100%
101%
14
Extl 6s pub wks May 1927.. 1961 M N
Public Works extl. 5%s
1962 F A
101%
18
101
loo H
100 H
101
1961 F
108%
45
107%
108%
20
1956 M N
External g 4%s of 1928
Austrian (Govt) s f 7s
102 H
101%
102%
...1957 J
♦Bavaria (Free'State) 6%s
Belgium 25-yr extl 6 %s
s
107 H
108
1955 J
External 5s of 1927
External
1945 F
J
J
94 H
A
25H
'107k'
106%
D
115%
115'%
115%
18
...1956 M N
s f
1065,6
1065,6
106%
101
101
External loan 4%s
105% 109%
98% 102%
19
35%
37%
52
27%
37%
27
28%
30
99
22%
27%
28%
72
22
27
29
20
29%
30%
95
102%
95
102%
101% 104%
21%
101%
101H
102%
104
1
26
1
25
38%
100%
34
95
98%
5
93
100%
100%
99
98%
98
98
83~~
83
83
7
105%
S
A
47
37
69
67
65%
67%
61%
69
69
61%
*41%
O
O
67
(City) external 7s... 1945
M N
*21%
El Salvador 8s ctfs of dep
1948
J
67%
1945
♦Dresden
1941
..1941
French Republic 7 %s stamped.
7%s unstamped..
External 7s stamped
1949
1949
7s uastamped
67%
66%
71
18
27
149% 183
151
172%
177%
28
167
190
166
174
88
166
182%
340
22%
29%
30
20
29
88
29%.
39%
26
33%
34
28%
28%
4
35%
37%
14
♦(Cons Agric Loan) 6%s__.. 1958 J
♦7s part
paid...).—.
D
37%
♦6s part
6s ser A—.1952
♦Hamburg (State) 6s.i__
1946
♦Heidelberg (German) extl. 7%s *50
Helslngfbrs (City) ext 6%s
1960
Hungarian Cons Municipal Loan—
♦7%s unmatured coup on...1945
34%
O
A
104%
F
23%
28%
98
93%
19%
23%
.
30
*18%
21%
19
32%
25%
19%
19%
17%
16%
73
77
"19%
38
50
*39
*112%
115
84%
96-
"73"
73
73
J
67
65
99%
99
84
71%
99%
84%
30%
.1957
96%
138
2
1
60%
50
87%
83% 100
53
83
15
51%
45
91% 100
26
78
89%
30%
25
32%
40
*21
1947
26
142% 115
S
Japanese Govt 30-yr s f 6%8._1954
Extl sinking fund 5%S—
1965 M N
Jugoslavia State Mtge Bank—
110
17
S
A
104
99
26%
24%
20
Italian Cred Consortium 7s A. .1937 M
F
16%
17%
104%
*18%
A
D
25%
*19
J
M N
31%
*21%
17%
104%
J
O
37%
26
97%
98
O
A
25%
27%
25
A
"33"
External sec s f 7s ser B
1947 M
Italian Public Utility extl 7s.. .1952 J
♦7s with all unmat coup
45%
27
J
♦7s unmatured coupon on...1946
♦Hungarian Land M Inst 7%s.l961 M N
♦Leipzig (Germany) s f 7s.
34
27%
28%
*30
:—1968
paid
25
*30
1964
1968 FA
♦Sink fund secured 6s
23
77
31%
Lower Austria (Province of)—
♦7 %s June 1 1935 coup on
..1950
J
*
D
♦Medellln (Colombia) 6%s
1954 J D
♦Mexican Irrig assenting 4%s.l943 M N
♦Mexico (US) extl 5s of 1899 £.1945 Q
1945 Q
9%
9%
*5%
*6%
J
D
♦Assenting 5s of 1899
98
104%
J
7%
4
6%
10
10%
7%
7%
9
9
*4
66
5%
57%
67%
59%
68%
48%
36
39%
16%
76
13
16%
17
16
109 H
110
34
114%
87
114H
114
100
100%
13
102%
102
102%
70
5
13
17%
105% 110
111% 115
96% 100%
99% 102%
45
32%
29
•37%
36
27%
27
34%
101
10%
7%
10%
12%
12%
♦§Treas 6s of '13 assent (large) *33 J
J
♦5 Small
Milan (City, Italy) extl 6 %s—_ 1952 A
s
s
1958
f 6%s—
Sec extl
f 6%s.
—
101%
96%
16
14 %
14%
14%
29
14
15%
15%
11
13%
15%
Panama (Rep) extl 5%s
15
10
14
15%
15%
External sink fund 4%s
External s f
♦Extl
s
1960 M S
12
12
11%
1951 J
D
*49
52
40%
52
*21H
28
19%
27%
23%
23%
19
25%,
♦8s June coupon off
19
25%
♦7 %s July coupon off.
5
Colombia (Republic of)
F
A
M
S
101%
s
101%
97
A
O
D
105%
70%
60%
1947
f 6s 2d ser. 1961
Poland (Rep of) gold 6s
Stabilization loaD
96%
'130%
21%
80%
76%
J
1953
M
97%
5%
9%
9
50
77
15%
14%
19%
s
External sink fuDd g
1940
12
16
40
101%
96%
30
"22%
"21
81%
16
94
19%
96%
97%
102%
104
18%
27
78%
86%
82%
76%
1
72%
101%
5
104
97%
27
101%
96%
105%
70%
1
104
106
1
67
90%
10
58
81
62
97%
8s...—1950
46%
22
12%
17%
14%
4
13%
11%
11%
11%
45
10
19
16%
12
32
10
49%
"63"
16
14%
11%
11%
..1947
f 7s
.
7
100% 105%
101
104%
104% 107%
105% 108
100% 104%
99% 102%
15%
S
♦Peru (Rep of) external 7s
1959 M S
D
♦Nat Loan extl 8 f 6s 1st ser.-I960 J
♦Nat Loan extl
80%
M N
M N
60%
♦Chilean Cons Munic 7s
12
O
D
♦Stamped
Pernambuco (State of)—
♦7s Sept coupon off
♦Chinese (Hukuang Ry) 5s
18
A
J
1963 M N
f 5s ser A
15%
13%
13%
13%
13%
12%
13%
104%
101%
37
13%
17
S
13%
13%
11
18
M
14
* O
1
1$%
18%
107%
101%
28
.1962 M N
18%
105%
104%
„
104%
107
14
12
18%
18%
106
11
12%
12%
S
A
101
53
11
M
106%
15
10
6%
~50
110
106%
15
16
8
6%
73
106
36%
13%
.
64%
S
14%
14 %
13%
6
6
69
A
36 H
13H
J
A
12
13H
13%
*6%
J
1963 M
32
13H
7%
7%
1943
1944
31H
13%
4%
External sink fund 5s
1956
4%s
1965
Municipal Bank extl s f 5s.__ 1970
♦Nuremburg (City) extl 6s__—1952
Oriental Devel guar 6s
1953
Extl deb 5 %s
1958
Oslo (City) 30-year s f 6s
1955
Sinking fund 4%s
1955
13 H
71
20-year external 6s
Norway 20-year extl 6s
11
13M
5
104%
f 5e
36%
33%
D
7%.
4%
O
s
36
D
4%
55
....Apr 1958
External
36H
31%
1957 J
49
5%
O
.1959 M S
New So Wales (State) extl 5s. .1957 F
35%
1961 J
5
6%
4%
Minas Geraes (State)—
35%
13%
D
5%
5
J*
5%
4%
"33H
6
4
5
♦Assenting 4s of 1910 small.
61%
100 H
S
100% 104%
175
33%
♦5%s unstamped
58-
14
M
70%
93
97%
105% 108%
175
♦German Rep extl 7s stamped. 1949 AO
♦7s unstamped
1949
German Prov & Communal Bks
♦Assenting 4s of 1910 large..
71%
48%
14 %
41%
172
28%
27%
♦Assenting 4s of 1904.
24
J
15
5
12
48
26%
85
"6
A
14 %
14%
159%
21%
27%
26%
69%
15%
J
100%
162
D
71
14
S
7
100%
21%
160
100%
D
j~~D
1965 J
1965
♦5%s of 1930 stamped
55%
47 H
14 %
48%
71%
68
69
30%
German Govt International—
Sec extl
J
4
10
107
106%
17
159
J
1954
*66%
J
21%
68%
96%
96
96%
S
External sink fund 6%s
1956 M S
♦Frankfort (City of) s f 6%s...l953 M N
"io
25
S
M
68%
65%
110
J
1967
~70%
64%
65%
J
26
60%
104% 106%
100% 102%
93% 100
67
S
A
1954 J
64%
66 H
19
76
49
♦Assenting 5s large
8
50
16
16%
80%
61%
64
51
44
111%
46%
68
44%
40
96
21
16
22
17%
15
19%
Porto Alegre (City of)—
on.Oct 1961
coup on. Jan
see
89
106
♦4s of 1904
21
For footnotes
2
37%
♦Assenting 5s small
14%
coup
96
100
99
>14%
1935
♦6s July 1 1935
105%
96
101%
83
14 %
♦6s Apr 1
90
101
55
S
♦Cologne (City) Germany 6 Ha-1950
7
105%
70
68%
o
Jan 1961 J
f 6s
94%
101%
99%
M
102
94%
105%
M
100
160
1942
92%
"70%
"6 §%
2
34%
99% 103
99% 101
92
96%
53%
...1955
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%s
1940
External gold 5%s_
1
♦External sinking fund 6s... 1963 Nl N
s
96
1952
65
102
101%
49%
94%
4
14%
14%
♦Guar
50%
87
96%
96%
...1949
71
♦Extl sinking fund 6s..Sept 1961 M
♦External sinking fund 6S...1962 M
1961
101
100
14
"70 k
15 1960
f 6s
100
100
Sinking fund 5%s
Jan 15 1953
♦Public wks 5%s—-June 30 1945
Czechoslovakia (Rep of) 8s....1951
Sinking fund 8s ser B
Denmark 20-year extl 6s
23
27%
27%
27%
101
1951
24
68 H
♦Farm Loan 6s ser A Apr
o
15 1938
♦Chile (Rep)—Extl s f 7s
1942 M N
♦External sinking fund 6S...1960 A O
♦Extl sinking fund 6s—Feb 1961 F A
s
15
100
Italy (Kingdom of) extl 7s
118%
25
98%
1952 M N
♦Guar
20
81%
1949
109
28%
27%
99
10-year 2 Hs
-.Aug 15 1945 F
25-year 3%s
1961
♦Carlsbad (City) s f 8s
1954
♦Cent Agric Bank (Ger) 7s
1950
♦Farm Loans f 6s..July
15 1960
♦Chile Mtge Bank 6H8
♦Sink fund 6%s of 1926
99%
95%
81%
1960 M N
19
102%
20%
22
20%
92% 100
88%
97
70%
81%
17%
95%
1944
Irish Free State extl sf5s...
1
20
High
17%
99%
9f>%
Low
,
Cuba (Republic) 5s of 1904
External 5s of 1914 ser A
♦Sinking fund 7%s ser B
1961
♦Hungary (Kingdom of) 7%s.. 1944
26
♦Sink,fund 7s July coup off.. 1967 J
J
♦Sink fund 7 Hs May coup off 1968 M N
Canada (Dom of) 30-yr 4s
1960 A O
f 6s
25
32
22%
105% 110
101% 109%
104
4%-4%s
1977
Refunding s f 4%-4 Ha
1976
Extl re-adj 4%-4%8_.__.—1976
Extl s f 4H-4Hs.__.___
1975
3% external s f $ bonds
1984 J
Bulgaria (Kingdom of)—r
s
108%
6
102%
f
f 6s_.Uct
108%
97
27
1961
5s
101
98% 102%
27%
♦Buenos Aires (Prov) extl 6s__.1961
♦6s stamped...
1961
♦External s f 6%s_
1961
♦6 Ha stamped
101%
101%
25
1960
C-3
*19%
Jan. 1
17
22
♦Sinking fund 7s of 1927
1947 F A
Copenhagen (City) 5s
1952 J D
25-year gold 4%s.
1953 M N
J
Cordoba (Prov) Argentina 78—1942 J
Costa Rica (Republic of)—
♦7s Nov 1 1936 coupon on—1951
Since
22
19%
Haiti (Republic) s f
101
27
1960
f 6s ser
7
Range
High
*19%
101%
24%
24%
O
Buenos Aires (City) 6Ha B-2..1955
External
No
Foreign Govt. & Mun. (Concl.)
♦Greek Government s f ser 7s__ 1964 MN
35H
A
Budapest (City of)—
♦6s July 1 1935 coupon on... 1962
External s f 6s ser C-2
§<3
Price
♦Colombia Mtge Bank 6%s._.1947 AO
♦Sinking fund 7s of 1926
1946 M N
101%
101%
101%
101%
101%
24 H
1960 M S
5s
__
♦Ry ref extl
1
19
31
1950
♦External sinking fund 6s...1958
♦Brazil (U S of) external 8s...1941
♦External s f 6%s of 1926—.1957
♦External s f 6%s of 1927._. 1957
♦7s (Central Ry)
1952
Brisbane (City) s f 5s
1957
Sinking fund gold 5s
1958
20-year s f 6s
.1950
s
25%
107 %
105 H
108
105 H
..1955 J
Stabilization loan 7s
Bergen (Norway) ext
♦Farm Loan
71
97%
97%
97%
97%
97%
97%
97%
97%
94%
104%
104%
35
94
J
1949 M S
♦Berlin (Germany) s f 6%s
-
,
1955 J
f 6s
External 30-year s f 7s
s
47
107 %
1957 M S
Australia 30-year 5s
21%
98
100%
7%
11%
8
11%
8%
11%
7%
11%
2
101%
101H
1960 MN
21
8%
s
100%
17%
17%
~~7
O
Ry)...1960|M S
Extl 6s Sanitary Works.^
Friday's
Bid
&
Asked
99.16101.29
9%
1958
6s scries A
External 6s series B
Extl s f 6s of May 1926
External
99%
1957
Argentine 6s of June 1925.
Range or
Estonia (Republic of) 7s
Finland (Republic) ext 6s
A
101.23 101,18
101.23 101.18
F
Foreign Govt. & Municipals—
Agricultural Mtge Bank (Colombia)
Akershus (Dept) ext 5s.
sfl.
External g 4%s
104.11
1 1939-1949
11942-1944
100.31104.2
101.17
103.30 103.26
2%s series B__Aug
2%s series G
102.19
102.10 102.4
J
Mar
109.12
101.17 101.10
15 1944-1949 M N
Jan
109.9
108.30
15 1942-1947 J
...May
3s
102.29 105.24
108.2
104.2
the
Week's
Last
Low
N. Y. STOCK EXCHANGE
Friday
Sale
3-e
BONDS
Since
Asked
Aug. s, me
defaulted bonds
transactions of the week, and when selling outside of
Range
is
1943-1947 J D 108.21 108.12
Treasury 38—...Sept 15 1951-1955 M S 104.23 104.15
Treasury 3s
June 15 1946-1948 J D 105.24 105.11
Treasury 3%s.—Apr
unless they are the only
Week's
Last
range,
No account Is taken of such sales In computing the range for the year.
In which they occur.
Friday
BONDS
STOCK
Yearly
1, 1909 the Exchange method of quoting bonds was changed and prices are now "and Interest"—except for Income and
regular weekly range are shown In a footnote in the week
s
NEW YORK
9-4600
NOTICE—Cash and deferred delivery sales are
Extl
Exchange
Exchange
New York Stock Exchange-Bond Record, Friday, Weekly and
882
Y.
York
New
BROAD STREET,
15
Telephone BOwllng-Green
N.
New
Members
page
,887.
1961
22 H
22 H
22 H
22 H
.1961
1966
*19%
16%
16%
Volume
New York Bond
143
BONDS
■
v..D.y..
uuu.
OtinuniQ.
external
s
I A
100
19
22
26
6
18
109
29%
28 M
112M
17
109
112
A
O
112
A
111
112
7s A—__1
Rio de Janeiro (City of)—
♦8s April coupon off
]
off
i
Rio Grande do Sul
(State of)—
♦8s April coupon off
]
♦6s June coupon off
]
S
,,,
26 M
18%
10
15%
26%
18
1
21
i A
O
I F
A
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t
O
24
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M N
17
5 A
18%
24 %
38
72 '
•
112
M N
F
"i;
19%
5sIIII 1959
Auburn Auto
14%
21
Austin & N W is tgu
27%
69
•
3
4
27
deb
conv
g
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-----
32
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D
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16
89%
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18
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A
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a.
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2
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16%
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J
M
32%
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81%
54%
110 i 122%
22%
28%
25
27
23
17%
14%
Slleslan Landowners Assn
Solssons (City of) extl 6s..
F
D
23%
24
11
22 M
22%
23
40
40
M N
35%
40%
21
*36
A
....
1
163
163
F
A
*85
95
F
A
104
104
8
79
79
9
72%
72%
1
101 %
79%
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6
54%
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Styria (Province of)—
{Baldwin
J
79
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M
S
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79
O
79
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55
M N
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*50
M N
A
'ruwou jtiuv ivuge nanK /f
73
O
M N
on
Warsaw (City) external
7s..
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m
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20%
90%
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..
1
.__]
38%
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83
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]
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A
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assented......]
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32%
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51%
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21
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82 %
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t
39 M
4s Stamped
37 %
59
37 M
53 M
74
89 M
96
m
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104%
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106%
2222
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90%
o
111%
D
102%
33 M
71M
78
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99
A
98
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97
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40%
18
58%
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.
•
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275
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359
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of
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85
71
64
61%
64
347
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101%
101
111%
101%
148
1
101%
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»
163
48%
36 M
65 M
90
101M
112%
99 M
*95%
98
S
71
69%
74
214
D
75
74
75
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114
46
J
J
112%
106
112%
105%
-
.
113
115%
108%
109
J
112%
M N
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114%
112%
112%
113%
112%
112%
129
116%
J
J
S
D
J
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F
A
J
J
83
66
79
M
s f
M N
J
109%
A
O
109%
37
38
38%
108 M
110M
112
114
101
112%
80
69
112M 115
Coll
106
112
114%
136
107M
urn
105%
25
:
97
4i
110%
32 M
32 M
8
38%
105%
154
32
31
32
16
30
30
4
Q
J
68%
67
68%
Ark & Mem Bridge & Ter 5s—„ 1964 IVI
S
*102
103%
Armour & Co (111) 1st 4 Ms
J
D
F
A
.1950 J
Atch Top & S Fe—Gen g 4s...
A
103%
98%
114
1955 J
D
Conv g 4s issue of 1910
1960 J
1948 J
D
1965 J
1958 J
J
Trans-Con Short L 1st 4s
Cal-Arlz 1st & ref 4 Ma A
1962 M
S
26
110%
110%
109%
109%
109%
107%
111%
112
38
114
88
"Wi-
-
222
-
29
-a
la. 2 ^
21
110%
107%
111%
*107
114
^
206
106%
111%
D
Conv deb
22'*
98%
*108%
D
.1955 J
110%
n
104
98%
105%
113%-
106
...1995 Nov
1995 M N
103%
*108%
J
O
—
1
26
trust
Collateral
A
19%
18%
1
112%
2i
-
99 M
23 M
lst &
49
125
4
23%
22%
20%
4
24%
105%
10^
222
29
23
4
25
33
78%
79%
74%
74%
39
68
20
7
20
19
19%
3
18%
m
117
48
73
18%
17%
18
18%
9
100
101%
101%
323
76%
1
-
-
76%
.
88
69
121
.
*128
.
129%
105%
104%
*108%
106
103%
103%
89%
31%
26%
26%
100%
85
95%
115
119% 122 •
124% 128%
6
104
109
105%
......
fa
109
67
121
120%
.
104%
D
75
113% ""44
112%
94
100% 101%
*91%
J
32%
30
102% 106%
109% 110%
71%
93%
111%
79%
80%
100
./I:
J
24%
105%
121%
129%
... U
.
101%
a
J
103%
J
1981 fa
1937 M s
""
105%
108
110
9
105
106%
2
103
103%
27
103
103%
103%
84%
1952
O
a" "o
19
17
103%
84%
82%
20
17%
A
110
*109%
.
1957 M N
5s~ 1934
30%
17
29
6
80%
90
.10
48%
55%
68%
83%
84
57
60
58%
60%
95
105%
11
O
13
13
O
116
116
m
103%
-
92% 101%
2
105% 107%
12
103% 105%
4
9%
17%
8
Hi %
118%
116%
22
.
67
9
95
1962 a
_
84 %
19
7
57
95
65%
6
1942 a
5s A
123
18%
60
'm.*m'22m
108% 111
104%
20
'
105%
104%
13%
.1957 J
July 1969
j
Oct 1969 a
1970 F
June 15 1955 J
114%
120%
cons g
113% 118%
116%
116
22 2
128
128
1
97
20c
A '22222a
120%
D
118
J
116
116%
22
m
11
30
19
1
95%
95%
104%
104%
105%
11
1944 j
Dec
J
116
115%
116
14
1954 j
D
108
108%
j
J
103%
103%
104%
J
j 2
2
4Ms
—I960
4s......1949
guar g
1938 J
D
6s ser A..Dec 15 1952 j
D
108%
m
2m
2
*48%'
55
106%
m2*»:2m
111
59
-
2
107%
1948 J
118%
116%
110%
129
97%
106
110%
"1.8
67 M
84 M
{♦Central of Ga lstg 5s...Nov
♦Consol gold 5s—
♦Ref & gen 5 Ms series B
♦Ref
gen 5s series C
1945 f
103 M 105%
94 %
99
.
27%
1945 MN
1959 A
o mmm222
1959 A
o is:
14
10
73
33
29
27
36%
66
66
2
52
68
27
28
68
23
36%
13%
13%
14
11%
20
12
20
21
29
20
24
.6
*
17
14
105
106M
♦Chatt Dlv phr money g 4s.. 1951 J
D
*24
110%
115%
♦Mac & Nor Dlv lst g 5s.
1946 J
♦Mid Ga & Atl Dlv pur m 58.1947 J
j
*20
27
j
15
.15
♦Mobile Dlv lst g 5s
j
M
m
104M 113M
..1946 3
104% 113M
106M 109
Cent Hud G & E lst & ref 3MS.1965
IVI
s
110%
Cent 111 Elec & Gas lst 5s_. —1951
F
a
{♦Cent New Engl lst
102M 107%
22
-
m
'it
m
-•«.«»
104
.1961 J
j
....
1987 j
J
88%
....1987 j
gu
J
4s
Central N J gen g 5s
114
General 4s..——
22%
*107%
103%
*53
25%
22%
104%
55
88%
89%
84
84
110M 113M
BROKERS
Vilas & Hickey
—
Members
—
2-7908
New York Curb Exchange
-
—
Wires to Chicago,
A.
T.
&
-
NEW YORK
Tj Teletypa NY 1-911"
Indianapolis and St. Louis
22
2m
....
■
90
15
2
108
110M H4
-
102% 108
86
30%
a
103
9
85%
32
D
109
120M
121
105% 108%
100% 105%
54%
106% 108%
108% Ul%
44
mm
-
106%
1)0
106%
-
------
Carriers & Gen Corp deb 5s w w 1950 MN
Cart & Ad lst gu g 4s
D
.1981 j
105%
34 %
♦Cent Branch U P 1st g 4a
105
115
115%
112%
110%
110%
122%
87%
102%
113%
9
j
30
96
108% 115
5
29
120%
120%
118%
116%
116%
1946 M s
4 Ms
trust
9
118%
120
J
115
118%
J
O
30
New York Stock Exchange
HAnover
22
25
Railroad, Public Utility and Industrial Bonds
Private
-a
48 %
BOND
TaUphon#
119
25%
24%
24%
23%
For footnotes see page 887
49 WALL STREET
98% 100%
7
17
100
M N
Caro Clinch & O lst 5s.
in
105M 107%
—
114
•
*110
-
79%
74%
M N
1
ctfs._III
5s equip trust ctfs._
Coll trust gold 5s
109 M 119 M
113
38
36%
105%
90
113% 116%
103% 109%
109% 118
68%
75
20
iW-
79%
Canadian Northerndeb 6 Ms.-.1946 j
Canadian Pac Ry 4% deb stk
perpet j
'
131%
30
19 67 J
105%
J
Guaranteed gold 4Ms
1956 F a
Guaranteed gold 4Ms..Sept 1951 M s
134%
107 M
J
IVI N
S f income deb
24%
o
O
F
II
■
cons gu
{♦Car Cent lst
J
24%
D
f
bI
deb 3%s
Guar, gold 4%s
111M 117M
101% 106M
Amer Water Works & Electric—
deposit
24%
M N
5s.
Guaranteed gold 5s
Guaranteed gold 5s
Guaranteed gold 5s
97
66 M
47
114
80%
,
118% 163
148
114%
90
74
_
120%
129
*107%
ji 25%
O
A
1941 j
♦Camaguey Sugar 7s
101%
90%
2i
106
115%
109
J
98
,
74%*
—
120%
—.
86%
.
108 %
8
326
88
61%
36
*99%
128%
129
.
♦Consol 5s
j
1955 j
±
Bush Term Bldgs 5s gu tax
ex.. 1960 A O
By-Prod Coke lst 5Ms A
1945 MN
Cal G & E Corp unf & ref
5s_. 1937 MN
Cal Pack conv deb 5s
J
1940 j
95 M
15
-
S
M
Telep & Teleg coll tr
O
120%
j
deposit
{♦Bush Terminal 1st 4s
104 M
98
101
78
...
99% 105%
e
113%
74%
------
M s
5 {♦Burl c R & Nor 1st & coll
♦Certificates of deposit..
77
87 M
—M
112%
*72%
L:-
_
109%
M N
.
Consol 4 Ms
103% 107 M
197
O
109
112%
.1944 J
Bruns & West lst gu
g 4s.
Buffalo Gen Elec 4 Ms ser B
Buff Roch & Pitts
gen g 5s
80
111
183
i
Brown Shoe
103
97
109
97%
O
116%
109 %
J
100% 105
67
103
55
,
43
104
92
108% 114%
84% 100%
13
S
A
lst 5s stamped
59%
53
---a.
751
35
97
Brooklyn City RR 1st 5s
T941 j"i
Bklyn Manhat Transit 4 Ms
1966 M N
Bklyn Qu Co & Sub cod
gtd 5s" 1941 M N
89
102
107%
103% 105
102% 108
418
99%
111%
113
103
mm
105%
a
Big Sandy lst 4s
Boston & Maine lst 5s
A C
♦Certificates
12
52%
70
100% 104%
44
107%
90%
111%
89
D
a
mm
^
106%
j
§ {♦Botany Cons Mills
.1934 ao
6Ms—.
6i.
93%
M N
Rocky Mtn Dlv 1st 4s
75%
54%
79%
106%
104
2
J
{♦Boston & N Y Air Line lst 4s
%
83%
101
33 M
61
La.
■. -
J
JJ_.IIIIIIIIIl961
58
96%
....
J
4 Ms.
m
j
J
Canadian Nat guar 4 Ms
Conv 4s of 1905
104
*105%
2
—
22222
1951
lst M 5s series
II..
1st g 4%s ser
38%
IVI
Conv gold 4s of 1909.
72%
*103%
104%
-
-
a" 6
♦Berlin Elec El <fc
Underg 6MsIl956 a
Beth Steel cons M
j
4Ms ser D
58%
-a'-.
M
Stamped 4s.....
58
73%
4
73
Belvidere Delaware cons 3Ms..
J
j
♦Berlin City Elec Co
deb 6 Ma-1951 j
D
♦Deb sinking fund 6
F a
Ms
102 %
100
92%
MN
deb 4s 1
Adjustment gold 4s.
40%
lb
'
100M 105%
83
73%
76 %
68 M
93%
Allis-Chalmers Mfg
Armstrong Cork deb 4s
22
53%
M N
♦Debentures 6s.
93 %
97%
S
of
58
53%
99%
103%
Bell Telep of Pa 5s
series B
lst & ref 5s series C
29
150
A
O
Certificates
99%
57
53%
95% 100%
29%
33
D
A
♦
95 M
58
Battle Creek & stur lst
gu 3s..1989 }" D
Beech Creek ext lst
g 3Ms——1951 A O
94%
103
....
M
,
Am
88 M
92
25
M N
—.1951 j
—
*93%
35%
76
AO
Allegh & West 1st gu 4s.
1
Allegh Val gen guar g 4s
Allied Stores Corp deb 4Ms—.1
conv
81M
99%
J
lst lien & ref 6s series
A
M
1J
Susq 1st guar 3 Ms
1
{Alleghany Corp coll tr 5s——1
♦5s
105
98%
1943 J
Bangor & Aroostook lst 5s
Con ref 4s..
■
1
Alb' &
conv
92
~2m.m
1996 M
M 5s ser F
lst lien & ref 5s series
♦Coll &
76
i960 F
Debenture gold
.
108
92
«.
-
124
86
IVI
15%
HIM
97%
85%
90%
j
Conv4Ms
82%
A
INDUSTR
5s
105 %
m
97%
.
F
♦5{AbltlbI Pow <fc Paper 1st 5s_]
Adams Express coll tr
g 4s
1
conv
2222
97%
.
23%
118M
103% 107
86
J
j
toco
16%
COMPANIES
Coll &
j
High
118
*110%
"'ir T-- -
j
Bklyn Union El 1st g~5sllIIII
Bklyn Un Gas lst cons g 5s
warr
J
J
29%
91
2
55%
73
73
I
_
J
♦Albany Perfor Wrap Pap 6s.
j
j
Works lst 5s.—1940
5s assented I...
Bait & Ohio lst
g 4s——July
Refund & gen 5s series A.
..1995
1st gold
5s..—
July 1948
Ref & gen 6s series
C—
1995
PLE & w Va
Sys ref 4s... 1941
22%
'
Coll trust 4s of 1907
Adriatic Elec Co. ext 7s
Ala Gt Sou 1st cons A 5s
1st cons 4s ser B
Low
'
j
i9%
25%
....
23 M
M N
vuuyuu
f
ov * 1035 coupon
"i'esla (Prov of) extl 7s...
on,
AND
No
High
J ^,2.222-** *106%
15
—
RAILROAD
Since
Jan. 1
*118
D
j
J
4%s_..1939
5s.——1941
Range
§!
oqcq
Asked
&
j
1937 j
Atlantic Refining deb 5s
17%
b
Friday's
Bid
j
)J
♦68 with
1948
.....
25%
6
19
~~17 %
M N
} J
Vienna (City of)—
♦6s Nov coupon
2d 4s..._
14
119
•26
;<^
16
17%
27
27
J
M N
*Extl 6 Ms May coupon off.
San Paulo (State
of)—
tA
1946
1944
1944
Coast Line lst cons 4s
July 1952 M S
General unified
4Mb A
1964 J D
L & N coll
gold 4s
.Oct 1952 MN
lO-yrcon tr 5s
.May 1 1945 M N
Atl & Dan lst
g 4s
J
1948 J
26
18%
112
27%
A
JJ
-.
*,
6
79%
112%
17%
21
—
—
*
Atl
lst 8 53
lst 4 Ms A
i, ^0-year 5s series B
3
Range or
Sale
Price
Low
4^1
& Nor
11 £harI A L
Atl Gulf & W I
SS col tr
17
68
15
14
;
■
24
18%
17%
O
24
16%
D
A
OS-
Last
fe 0
II
.
18
7 J
Sao Paulo
(City of Brazil)—
♦8s May coupon off
•
High
99% 101M
23%
1 F
M
Week Ended Aug. 7
Low
1
w
BONDS
N. Y. STOCK
EXCHANGE
22
23%
22M
O
883
Week's
Friday
Since
No
High
100
S
Range
t 7s__l
6s_
coupon
Low
M N
M
2
"
Jan. 1
Bonds Sold
Friday's
&
Asked
22%
112
♦Rhine-Main-Danube
♦6%s Aug
Bid
]
Queensland (State) extl
25-year
Range or
Sale
Price
•••
\UOT
Prague (Greater City) 7%s
1
♦Prussia (Free State) extl6%s.l
♦Externa! sf6s
1
Last
Inter st. Period
N. Y. STOCK EXCHANGE
Week Ended Aug. 7
Record—Continued—Page
Week's
Friday
23
20
28
105% J08
39
22~2
87
5
99% 104%
77%
86% 103%
43%
83
93%
New York Bond Record—Continued—Page 3
884
Aug. 8, 1936
Friday)
Last
bonds
N.
,
1980 IVI N
Columbia G & E deb 5s... May 1952 IVI N
Debenture 5s
Apr 15 1952 A O
Debenture 5s
-Jan 15 1961 J
Colo <fe South 4 %s ser A
Connectione
<
%endmlpk 7711
r|>
Ranoe or
Sale
Week Ended Aug. 7
Last
Friday's '
Price
Bid
<fe
Asked
55
F
A
Through Short L 1st gu 4s_1954
A
O
--I960
Cent RR & Bkg of Ga coll 5s.. 1937
Central Steel 1st g s f 8s
1941
Certaln-teed Prod 5%s A
1948
Champion Pap & Fibre deb 4% si 950
Chesap Corp conv 5s.—
1947
10-year conv coll 5s
—1944
Ches & Ohio 1st con g 5s
1939
General gold 4%s
1992
Ref & lmpt 4%s
1993
Ref & lmpt mtge 3 Josser D..1 996
Craig Valley 1st 5s
May 1940
F
A
1949
Guaranteed g 5s.
Since
110%
107
107%
10
102
101%
96
89
*83%
125%
92%
126
*""§
"94 %
95
99
M S
IVI N
J
D
A
O
123%
110%
M N
154%
242
136%
110%
96
124%
26
110%
99%
M N
99 %
J
4
123
136%
S
67
105%
110%
99%
9
16
*110
J
90
88
Warm Spring V
1st
Chic & Alton RR ref g 3s
1949
3%S—1949
A
112% 118%
108% 109%
110
1977
1937 J
J
{♦Chicago Great West 1st 4s. .1959 M S
1947 J
1947 J
1947 J
{♦Chic Ind & Loulsv ref 6s
♦Refunding g 5s ser B...
♦Refunding 4s series C
49
57
110
1952 J
J
1936 J
1936 J
Cuba RR 1st 5s g
1st ref 7 Ms series A
1st lien & ref 6s ser B
D
65%
Cumb T & T 1st & gen 5s.....1937 J
A
Dayton Pow & Lt 1st & ref
"38%
279
24%
16
5
101
101
l
110%
3%s 1960
110%
5
41
O
104% 105%
26%
39%
49
'28%
29
48%
28%
46%
15%
28
29
16%
92% 102%
110% 111%
1969 J
1969 J
1st mortgage 4%s...
Den Gas & El 1st & ref
Stamped
as to
s
J
{♦Den & R G 1st
cons g 4s
1936
{♦Consol gold 4%s
1936 J
{♦Den & R G West gen 5s. Aug 1955 F
♦Assented (subj to plan)
♦Ref & lmpt 5s ser B___Apr 1978
{♦Des M & Ft Dodge 4s ctfs_._1935
{♦Des Plalnes Val 1st gu 4%s..l947 IVI
ser
C *62 F
"31%
31
33%
32
"15%
1952
1995 J D
♦2d 4s assented....
1995
Detroit Term & Tunnel 4%s.,1961 MN
Dul & Iron Range 1st 5s
1937 A O
55
57%
10
47%
68
57
58
37
49%
69%
Dul Sou Shore & Atl g 5s
A
21
19%
21
395
17%
25
J
Duquesne Light 1st M 3%s...l965 J
♦§East Cuba Sug 15-yr s f 7%s_1937 M S
35
38%
44
40%
26
38
40%
9
37
56
East T Va & Ga Dlv 1st 5s
1956 MN
Ed El 111 Bklyn 1st cons 4s
J
1939 J
Ed Elec (N Y) 1st cons
J
g 5s.__.1995 J
39
5
41
6
38%
57%
1
41
56
45
44
45
26
42
61%
Elgin Jollet & East 1st
D
21
20%
21%
27
17
27
El Paso & S W 1st 5s
D
19%
18%
20
34
16
25%
19
19%
12%
48
16
25%
5s stamped...:
Erie & Pitts g gu
10%
17
74%
6
70
34%
34%
313
32
46%
34%
16%
15%
34%
16%
35%
34%
17%
1
31
43%
55
15
20%
15
15%
18
13%
18%
19
9
15%
16
16%
10
8
8%
63
7
19%
22%
20%
11%
2
105
111%
1960 M N
D
Gold 3%s
June 15 1951 J D
D
Memphis Dlv 1st g 4s
1951 J
Chic T H & So East 1st 5s
D
1960 J
lnc gu 5s
Dec 1 1960 M S
110%
111
14%
Series B
Gen
"94%
"83%
93%
91%
91
91%
18
74
Ref &
lmpt 5s of 1927
Ref & lmpt 5s of 1930
79%
81
52
61
84
1944 J
D
1944 J
1963 J
1st mtg 3lis ser E
Chic & West Indiana con 4s
Childs Co deb 5s
J
111
J
108
J
104%
82%
102%
1963 J
1952 J
..1943 A
Chile Copper Co deb 5s
J
1947 J
{♦ChocOkla & Gulf cons 5s...1952 IVI N
Cln G & E 1st M 4s A
1968 A O
Cln H & p 2d gold 4%s
J
1937 J
1942
4s
1943 J
104%
102%
105% 109
105% 108%
108% 112
106%
111
108%
107
99% 105%
73
86%
102%
100% 103%
45
35,
101%
101% 103
*106%
106%
108%
106
110%
106%
100%
109% 113
106% id7%
104
102
103%
96% 104%
111% 119
103% 105%
103%
78%
95%
120
J
105%
*96%
105%
105%
101%
101
101%
21
1977
J
94
95%
161
1939
J
*105%
Cin Wabash & M Dlv 1st 4s_1991 J
J
St L Dlv 1st coll tr g 4s
1990 M N
99%
"99%
*100%
101%
Spr & Col Dlv 1st g 4s
*105
Cleve & Pgh gen gu 4%s ser B.1942 A
Series B 3 Ms guar
1942 A
Series A 4%s guar..
Series C 3%s guar
Series D3Ms guar
Gen 4%s ser A
Gen & ref mtg 4 %s ser B
Cleve Short Line 1st gu 4 Ma
Cleve Union Term gu 5 Ms
1942 J
2.1948
O
106%
For footnotes see page 887.
26
20
8
21
34
15%
112% 116%
104% 107
52%
107
82
12%
108%
23%
16%
21%
109%
111
103%
111
107%
137%
107
108
128% 138
114
F
"96""
89
'85%
85
113
110
110
109
12
107%
101% 110
100% 108%
105% 107%
105% 107
105%
35
88%
89%
169
106%
5
104
31
74%
75
89%
74
88
85%
83%
435
85%
83%
433
'
117
117
99% 105%
89%
77%
105% 106%
32
,90
88%
88%
*81%
*117%
*111
7
118
3d mtge
4%s.___
90
86
70
69%
85%
119
117
112%
Ernesto Breda 7s
1938 IVI
S
116% 119%
F
A
110%
110%
70
.1954
*110%
110%
111% 112%
111% 113
110%
110%
106%
107%
1
106
113
110
s
f 5s stamped
1942 IVI
s
1st lien 6s stamped
30-year deb 6s series B
Flat debsf g 7s...
1942 M
1954 J
S
D
1946
J
s
{♦Fla Cent & Penin 5s.w..
1943
{♦Florida East Coast 1st 4%s..1959 J
113
27
105% 111
105% 112
30
100% 109
103%
102%
104
119
95
102%
103%
'79""
102%
*101%
102%
103%
102%
102%
103%
103
78
79%
1
8
6
99
101%
97% 103
101% 104
95
103%
60%
84%
61
"61%
61%
61%
'l5
52%
D
56%
66%
8%
7%
8%
24
7%
11%
7%
7%
7%
12
7
10%
*7%
9%
8
11
5
4
♦Certificates of deposit..
Fort St UD Co lst g 4%s
Ft W&Den C lstg5%s.
103
1974 M S
Fonda Johns & Glov 4%s
1952
{{♦Proof of claim filed by owner. MN
(Amended) lst cons 2-4s.__.1982
5 {♦Proof of claim filed by
♦Certificates of deposit
5
60%
-
♦lst & ref 5s series A
74
101% 102%
98
*59
J
104%
42%
*102
owner
*3%
*3%
*105%
*105%
MN
1941 J
J
1961 J
D
Framerican Ind Dev 20-yr 7%s 1942 J
J
{♦Francisco Sug lst s f 7%s... 1942 IVI N
Galv Hous & Hend lst 5 %s A.. 1938 A
V
5
6%
3%
106%
6%
105
105
105
106%
106
110%
109
108
75
75
79
35%
84
91%
92
75%
94%
•
♦Gen Elec
106
110%
107%
1942 IVI
102%
103
74
104
*110%
*106%
F
5s International series
1st lien
L_.
*102
104%
101% 107%
108% 111%
*111
1961
1977
77
21
106%
89%
(Germany) 7s Jan 15 1945
♦Sinking fund deb 6%s
1940
109%
♦20-year
s
f deb 6s
104
102%
105%
106
14
101
106
35
2
29
35
36%
2
30
36%
1
30%
J
35
J
D
36%
36%
1948 IVI N
J
1939 J
Gen Pub Serv deb 5%s
Gen Steel Cast 5%s with warr. 1949
{{♦Gen Theatres Equip deb 6s. 1940
2
102%
106
J
"36%
103
"87%
87%
30%
*14%
{♦Ga & Ala Ry lst cons 5s....1945
{{♦Ga Caro & Nor lst ext 6s.. 1934
102
104
88%
76
98
32%
18
19
19
.20
1
28
105%
104%
105
124
98%
99
37
108
Conv deb 6s
1945
Goodyear Tire & Rub lst 5s.-.1957 IVI N
Gotham Silk Hosiery deb 5s w W1946 IVI S
105%
104%
98%
123%
114%
♦{♦Gould Coupler lst s f 6s
Gouv & Oswegatchle lst 5s
1940 F
A
1942 J
D
1941 J
J
123%
32%
12
108%
105%
108
36%
36%
3
67
"35%
35%
♦Good Hope Steel & Ir sec 7s.. 1945
Goodrich (B F) Co lst 6%s...l947
101% 104%
103%
*21%
GrR&Iext lst gu g 4%s
4%s series C
1
35"
15%
2
*121%
*104%
J
1981
..1973
q
"35"
*107
1975 A O
J
..1955 J
J
Genessee River 1st s f 6s....1957 J
N Y & Erie RR ext 1st 4s...1947 IVI N
108% 111%
50
50%
104% 104%
*107
104%
1953 A
1953 A
1967 IVI N
■:
108% 110%
14
107%
109%
1940 J
1953 A
7
71
108% 110
113
116%
109%
Gas & EI of Berg Co cods g 5s_.1949 J D
Gen Amer Investors deb 5s A.. 1952 F A
Gen Cable 1st s f 5%s A
J
1947 J
106%
94% 101%
1977
1972
20%
*105%
O
93% 100%
96
*111
MN
1950 A
9
104
106
110%
89
105
*100%
O
105
11
J
1940 M S
106%
110%
*105
95
106
107
103
D
W W Val Dlv 1st g 4s
J
1940 J
Cleve-CIlffs Iron 1st mtge
4%s_1950 M N
Cleve Elec Ilium 1st M
J
3%s__.1965 J
47
100%
1963
Ref & lmpt 5s ser D
Ref & lmpt 4%s ser E
Cairo Dlv 1st gold 4s
109
84%
100%
t
J
D
105
82
166%
.
Cleve Cln Chi & St L gen 4s...1993
General 5s serial B
...1993
Ref & lmpt 6s ser C..._.
1941
106%
*34
M N
Cln Union Term 1 at gu 5s ser C 1957 IVI N
1st mtge guar 3%s series D..1971 IVI N
Clearfield & Mah 1st gu 4s.
106%
105%
110%
107%
J
O
26
115%
104%
*108%
Fairbanks Morse deb 4s ......1956 J D
Federal Light & Tr 1st 5s
1942 IVI S
1st mtge 4s series D...
104%
75%
*135%
*112%
Erie & Jersey 1st s f 6s
94%
Chicago Union Station—
Guaranteed g 5s......
Guaranteed 4s...:
3%
66
5
95%
81
4s series D
conv
23
38%
20%
20%
31%
107
111
B...1940 J
1951
34
35
20%
O
cons g
Penn coll trust gold 4s
Conv 4s series A
*90
94
ser
13
60
107 %
O
4s 4s prior. .1996 J
1st consol gen lien g 4s
1996 J
80
77
1965
3%s
65
70
20%
TVI N
1965 A
Series C 3 Ms
Erie RR 1st
74
g 5s.... 1941
31%
13%
45
107%
_
East Ry Minn Nor Dlv 1st 4s..1948 A
41
104%
38
30
15
110%
*25%
114%
21
♦Ctfs of deposit
54%
54%
41
"ie"
J
36
40%
M~S
1951 J
33%
35%
1937 J
9
108%
115%
*25%
♦Second gold 4s
110
105% 108%
46
108%
.
104% 107
78%
90%
98
102%
105
106%
100% 105
105% 108%
17%
16%
27%
*40
58
O
103%
65%
55
105
*40
57%
38
115%
lio"
68
9%
48%
108%
t
Gen & ref 5s series E_
13
5
Gen & ref M 4s ser F.......1965
♦Detroit & Mac 1st lien g
4s.r_1995
♦1st 4s assented
1995
J
1934 A
106%
70%
U
185
65
115%
.1961
47%
11%
104
75%
107%
32%
33%
27
A
16
"12%
102
103% 106%
101% 104%
106"
*4
58%
D
96
61
101%
106%
15%
27
65%
♦Conv 4%s series A.
1949 M N
it ♦Chicago Railways 1st 5s stpd
F A
Aug 1 1933 25% part pd
J
{♦Chic R I & P Ry gen 4s
..1988 J
105
100% 103%
46%
106%
83%
S
43
1936 IVI N
103
49%
101%
17
A
46%
6
*105%
105%
T06%
J
53
605
106
J
24
39
107%
103% 105
49%
....
102
102
J
f 5s... 1951 IVI N
1951 IVI N
54
7'%
101%
*105%
Penna tax
Detroit Edison gen & ref 5s
Genr & ref 4%s series D
81%
83%
J
J
♦1st ref g 5s
May 1 2037 J
♦1st & ref 4%s stpd.May 1 2037 J
♦1st & ref 4%s ser C.May 1 2037 J
106%
1937 Ml N
J
47%
57%
41
104
3
101%
106%
53%
47%
54%
.1987 M N
62
58%
J
122%
♦Gen 4%s stpd Fed lnc tax.. 1987 M N
♦Gen 5s stpd Fed lnc tax
1987 M N
31%
42%
102
66
116
M N
7
20
101% 103
107
109%
5
66
47%
67%
O
47
30
109%
"43
65
J
A
105% 108
56%
*62
5
J
"2
105
D
121%
23%
105%
*102%
58
21%
22
102
55
23
40%
f
55%
w
14
"40%
f 5s series B guar
w..1940 M 8
.1942 J D
Crown Zellerbach deb 5s
Cuba Nor Ry 1st 5%s_.
14
1987 M N
s
106%
3
Stpd 4s non-p Fed lnc tax. 1987 M N
s
s f 4s
1950 MN
J
Willamette Paper 6s.__1951 J
106%
Crown
66
22
106
Crown Cork & Seal
18%
7
1st
A
97%
7%
1st
D
117%
J
♦Gen 4%s series E._May 1 1989
♦Gen 4% series F___May 1 1989
con gu
8
F
82
42%
24%
♦Gen 4%s series C__May 1 1989
Cln Leb & Nor 1st
100%
106%
106%
1943 J
warr
112
*39
J
♦Certificates of deposit.
♦Conv g 4 %s
Ch St L & New Orleans 5s
100
15-year deb 5s with
Copenhagen Telep 5s Feb 15--1954
6
J
♦Chic M & St P gen 4s ser A..1989
♦Gen g 3%s ser B__May 1 1989
{♦Secured 4%s series A.....1952
102%
8
11
,»
♦Certificates of deposit
102%
102
26
D
♦Certificates of deposit-{♦Refunding gold 4s.
36
97%
20%
45
J
§ ♦Secured g 6%s.
104%
115%
39%
1969
♦4%s stamped
104%
112%
*39
1966 J
1956 J
♦General 4s
104%
111%
115%
*39
Chic L8 & East 1st
{♦Chic Mllw St P & Pac 5s A.. 1975
♦Conv adj 5s
....Jan 1 2000
{♦Chic & No West gen g 3%s._1987
210
107% 113%
106% 114
J
♦1st & gen 6s series'B.May
Chic Ind & Sou 50-year 4s
4/%s
7
104%
31
53%
J
1966 IVI N
♦1st & gen 5s series A
13
44%
108
1943 IVI N
20%
18%
121%
*104%
38%
37%
21
44
*101%
1971 J
20%
30%
106%
Del Power & Light 1st 4%s
1st & ref 4%s
97
31
"_8
104%
Del & Hudson 1st & ref 4s
Gold 5%s—
""97%
32
19%
24
1
21
29
108
108% 113
1971
20
105%
55%
104% 108%
1st & ref 4%b ser B
1st & ref 5s ser A..
{{Chicago & East 111 1st 6s... 1934
{♦C & E 111 Ry (new Co) gen 58.1951 M N
♦Certificates of deposit
Chicago & Erie 1st gold 5s
1982 IVI N
106
2
104%
73
112%
112%
11
20%
106% 110%
22%
.
105%
38
S
106
108""
112%
113%
1958 IVI
106%
1
1970 M N
1946 J D
108
General 4s
91
21
52%
111%
104%
104% 104%
103% 104%
21
107%
111%
112%
J
56
*21
108
J
1949 J
7
104%
20%
53
Illinois Division 4s
Ch G L & Coke 1st gu g 5s
116
*110%
1941
g 5s
Chic Burl & Q—111 Dlv
116""
110
112%
110% 111%
110S32 112%
104% 104%
108% 111
*112
1989
.1989
2d consol gold 4s
99% 105%
98% 105%
May 1 1965 IVI N
3 Ms
mtge
mtge 3% 8
Container Corp 1st 6s
80%
10
60
♦21%
"44%
87%
105%
106%
107%
107%
'106%
59%
99
110®32
106%
J
48%
45
105
104%
104%
104%
High
110% 111%
65%
85%
98% 105
104%
1103,6
1955 A
1956 J
1st
102% 106
100%
104%
1955 J
1st
100
115% 157
110% 138%
110% 112%
118% 126%
110% 113%
249
Consolidation Coal s f 5s
1960 J
Consumers Gas & Chic gu 5s. .1936 J
Consumers Power 3%s.May 1 1965 IVI N
102%
Potts Creek Branch 1st 4s—1946
R & A Dlv 1st con g 4s
104
27
221
84%
*102
1951 J
♦Debenture 4s..
108
121% 127
98
105%
150%
132%
110%
154
IVI
85
104
A
♦Debenture 4s
103% 110%
109%
100%
105
1103,6
1956 A
{♦Consol Ry non-conv deb 4s. .1954
High
58
110%
M N
S
Low
104%
1951 J
1951 J
4%s
Consol Gas (N Y) deb 4%s
Jan. 1
'io'iM
IVI N
M
High
104%
1943 A
guar
♦Debenture 4s
Low
F
105
74%
81
♦Consolidated Hydro-Elec Works
of Upper Wuertemberg 7s...1956 J
Range
Is
104%
76%
1949
deb, 5%s
Conn Ry & L 1st & ref 4 %s
Week's
Friday
Low
*112
3%s debentures
$■§
104%
82%
104%
*111%
Consol Edison (N Y) deb 3%s.l946
BONDS
High
1948 A
Stamped
N. Y. STOCK EXCHANGE
Jan. 1
~80
1955 F
Conn & Passum Rlv 1st 4s
1J. Y. 1-741 ■+ 9*11 System Teletyp* 4- C*o. 343
Since
Asked
*79
Comm'l Invest Tr
133 So. L* Sell* Si.
fPrivete Wire
db
Col & H V 1st ext g 4s
Col & Tol 1st ext 4s
IU.
r.
Cent Pac 1st ref gu g 4s
Bid
{♦Colon Oil conv deb 6s
York C*rk €xch*ng«
Range
Friday's
Low
(
I
Range or
*110%
Coal River Ry 1st gu 4s
One Well Street
<DIgby 4-5200
Price
..1945 J D
J
1938 J
{♦Colo Fuel <fe Ir Co gen s f 5s. 1943 F A
{{♦Col Indus 1st & coll 5s gu_.1934 F A
f <TJ*w York Stock Sxchsrtg*
'RAILROAD 'BONDS
Htw York,
I
Sale
EXCHANGE
STOCK
Week Ended Aug. 7
Bennett 'Bros. & Johnson
ffdtmbtfi
Y.
Week's
51
77
20%
'
32
30
35%
107% 108%
104
105%
103% 106
98
100
56
123%
100
104%
*104
*108%
108
110
1
Volume
New York Bond
143
5^
£8
BONDS
N. y. STOCK EXCHANGE
Last
&
Asked
100 %
*95
100 %
97
Low
Grand Trunk Ry of Can g 6S..1936 M S
Grays Point Term 1st gu 5s —1947 J D
Gt Cons EI Pow (Japan) 7s
1944 F A
1st & gen s f 6%s
..1950 J
Great Northern 4%s series A.-1961 J
100%
-
Jan. 1
High
Low
14
17
96
86%
J
86%
86%
1
113%
113%
43
96%
88%
81%
1952 J
General 4 %s series D
General 4%s series E
Gen mtge 4s ser G
J
114
113
114
47
1973 J
General 5%s series B
General 5s series C
J
109%
109
109%
26
103%
104%
61
107%
107%
103%
96%
103
103%
121%
107%
69
96%
494
113%
1976 J
J
1977 J
J
,..1946 J
1946 J
J
121%
119
J
107%
106
Gen mtge 4s ser H
♦Green Bay & West deb ctfs A
♦Debentures ctfs B i.
104%
"
*65
Feb
Greenbrier Ry 1st gu 4s
1940 M N
Gulf Mob & Nor 1st 5%s B
1st mtge 5s series C
1950 A
O
1950 A
9%
O
251
72
9
Feb
_
10
*107%
-
3
97
54
J
*77%
86
J
J
*76
82%
Gulf States Steel deb 5%s_.-..1942 J
D
Gulf & S I 1st ref <fc ter 5s Feb 1952 1
99
91
114
116
112%
105
105
D.H. SlLBERBERG
7%
63 Wall St.
NEW YORK
70
Telephone Whitehall 4-2900
14%
A. T. 4 T. Tele. N. Y. 1-1598
90
81%
75%
102
97
..............
Hackensack Water 1st 4s
♦Harpen Mining 6s
Hocking Val 1st
cons g
J
A
.-
{♦Housa tonic Ry cons g 5s
H & T C 1st g 5s lnt guar
*32
J
_
O
J
'w'
Hudson Coal 1st
J
110
J
122%
116
75
22
69%
70
2
103
D
45%
MN
.....
103%
44%
BONDS
N. Y. STOCK EXCHANGE
79
104%
$2
SR,
c
Is
19
107
48
122%
....
105%
100% 103%
38%
48%
119% 123
Lehigh Val (Pa)
General
-
cons
General
cons
cons g
75%
72%
77
120
72%
A
O
31
29%
31%
141
26%
107%
O
J
107%
J
108%
J
*104
1951 A
O
*104
1951 M
S
A
O
J
Extended 1st gold 3 Ms
1st gold 3s
sterling
*90%
87
13
118
1
108%
4 Ms
5s
87%
-----
50
87%
79%
89%
97
81%
82
32
MN
83
81%
83
146
69%
68%
J
D
------
J
*105%
*94
J
F
J
J
J
106%
-----
90
6
81
------
85
29
84
7
-----
*96%
97
....
.WW-**
W
i
*
vow
AOV
J
UAV
90
88%
90
93
J
It
D
D
85
83%
85
132
A
1st & ref 4 Ms series C
O
AO
TO.
Ind 111 & Iowa 1st
g 4s
»J
{♦Ind & Louisville 1st gu 4s
Ind Union Ry 5s series B
Ref & imp mtge
3%s ser B.
Inland Steel 3%s series D
J
107%
------
J
-
—
—-
*106
29
107%
—
-
102
1
43
....
108%
S
102%
102%
F
A
106%
106%
J
94%
2
A
105
94%
11)0
92%
93
13
49
51
O
106%
94
------
94
91%
99
72%
85
90%
82
91%
100% 101
87
97
71%
92%
88
106% 108%
67%
105
99% 102%
21%
46%
108%
102% 102%
105
102%
>J
86
87
105
—
IVI
{♦10-year 6s.
51
18
103% 107
89%
95»%
87%
93%
48
65%
12
45%
60%
63
90
97
87%
96%
46%
7% notes
94%
46%
95%
93
93
1
92
IMS
46
94%
♦Certificates of deposit..
♦Certificates of deposit.
*36
------
J
♦Certificates of deposit..
conv
102
------
J
>J
{ Interboro Rap Tran 1st 5s—
{♦10-year
107%
*104
89%
89
91%
85%
90
100%
64%
84%
75
90
89%
*100
FA
108%
103% 106%
....
99
*82
85
J
J
218
80
99
------
A
J
39
100%
78%
J
J
Western Lines 1st g 4s
It
111 Cent and Chic St L & N
O-^
Joint 1st ref 5s series A......It
99%
80
93
9
86%
99%
99%
1
96% 102%
_
Interlake Iron 1st 5s B
Int Agrlc Corp 5s
stamped 194
Internat Cement conv deb 4s.
IVI N
IVI N
—
160
A
♦1st 5s series B.
iJ
J
36%
34%
J
J
57%
35
59%
A
O
J
J
99%
56%
73%
99%
M
S
91%
91
IVI N
87%
A
Int Merc Marine sf6s
Internat Paper 5s ser A & B_.
O
74
J| J
33
5
33
45
244
9
74
46
36%
59%
65%
79%
90% 101
75%
92%
149
87%
3
80
99%
7
88% 100
81%
75
74
.74%
81%
J
95
70
70
A
M S
25
14%
46%
9%
99
J
F
115% 160
34
47%
100%
92%
*93
A
J
18
97%
85%
IVI N
F
41
37%
10%
35%
9%
------
248
160
35
J
O
147%
372
M N
U
......
90
81%
93%
150
70
88%
359
81%
91%
99%
78%
301
74%
2%
6
2
96
D
)
A
95%
104%
O
A
O
50%
F
A
110%
87%
) J
Kansas City Term 1st 4s....l
Kansas Gas & Electric 4
Ms—1
)
)
♦Karstadt
3 M N
Apr 1
(Rudolph)* 1st
♦Ctfs
w
w
♦Ctfs
w
w
1
6s
stmp (par $645)..]
stmp (par $925)..]
♦Ctfs with
warr
(par $925)—]
»
A O
J
J
1
D
7 J
J
1%
95
4
34
81%
98
308
33%
61%
63 M
69 M
151
34
66
134
40
63 M
O
O
*105%
122
A
Long Dock Co 3%s ext to
Leng Island gen gold 4s._
1946 F
A
98
Guar ref gold 4s
Lorillard (P) Co deb 7s
1944 A
6s
1951 F
Louisiana & Ark 1st 5s ser A
1969 J
Louisville Gas & El (Ky) 5s—.1952 M
Louis & Jeff Bdge Co gu 5 4s
1945 M
Louisville & Nashville 5s
1937
N
8
2003 A
1st & ref 5s series B
2003
*—...
103 %
104 %
101
102
104 %
103%
104%
*131%
133 %
121
112
110%
1945
South Ry Joint Monon 4s
Atl Knoxv & Cln Dlv 4s
104
108%
24
103 M
101M
103%
102%
65
33
M S
103
i
*113%
J
101
J
J
......
J
J
*106%
J
7 A
O
7 A
O
Kings County Elev 1st g 4s—]
Kings Co Lighting 1st 5s...—.]
) F
IJ
J
D
*160
J
"96
i
IVI
S
Laclede Gas Light ref & ext 5s.]
«[
[
-
3 J
J
111%
1
96M
1
A
3
1 F
A
71%
Coll tr 6s series A
]
?, F
A
72
37
100M
93
80 M
57
76
41
1
23
44
41
42
9
22
44
59
60
60
42
56%
21
68%
64%
34%
68
M
55%
Coll tr 68 series B
1
7.F
A
...3
7 J
J
1
J
J
Lake Sh & Mich So g 3 Ms
3
♦Lautaro Nitrate Co Ltd 6s—3
7 J
D
J
J
Lehigh C & Nav
3
1J
J
102%
C...3
Lehigh & New Eng RR 4s A—3
Lehigh & N Y 1st gu g 4s
3
\1
J
------
Lehigh Val Coal 1st <fcref
1 F
f 5s 3
f 5s
1st & ref
s
f 5s......
1st & ref
s
f 5s
Secured
6% gold notes
Leh Val Harbor Term gu 5s
3 A
------
101
.
Jack
Lans&Sug3Ms
1st gold 3Ms.
Ref & impt 4 Ms series C
Mid of N J 1st ext 5s
1940
Milw El Ry & Lt 1st 58 B—1961
1st mtge 5s...
1971
------
104
33
100
*80
97
90%
90%
'154%
101%
104%
109%
102%
*20
1 F
F
A
16
2
F
A
-*-3
3
3
3 J
F
60%
A
♦1st &
97
26
109%
102%
87
!.
36%
95% 100
92
78%
6
100
103
26
102
105%
1
108
110%
100% 103
11
18%
3%
1%
23% 29%
17
13
31
104%
*92%
107%
104%
102% 104%
107%
106
104%
98%
67%
101%
101%
93
93
105%
105%
\
J
S
105%
35
"71%
90
82%
.82%
33%
35
*64
82%
S
109%
106
95
106
95
*88%
IVI
94
90
104%
refunding gold 4s
1949
50-yr 5s ser A——1962 Q
....
1
....
M St P & SS M
con g
5
75
6%
3%
*2%
•3%
F
101
35
39
33
38%
1949 M
6%
4
95"
60%
49%
70
"~8
88
32
26
79
5
9
1%2%
8
3%
J
22
32
25-year 5Ms
92
96%
1st ref 5 Ms series B
1st Chicago Term s f 4s
102
89
102
104%
115
101%
103%
6
4
155
93%
J
87%
103%
122
99% 102%
104% 113%
112
42%
72
27%
100%
42%
J
J
78%
80%
87
21
98
104%
98
104%
35%
*100%
101%
105%
2
104% 105%
75%
1
80%
101%
60
72%
64%
69%
53%
68
....
100
57
97
71
2
61%
61%
2
60%
8
98%
98
,36
82%
100
97%
37%
92
O
1981 FA
.....1937 J
1st guar gold 5s
69%
37%
88
35%
1
98
10
"ii
'lie
26%
27%
26%
71
37%
36
16%
37%
36%
37%
36%
12%
37%
"11%
11
37%
36
%
37%
36
36%
37%
27
37%
36
36
27
36
98%
82
"37%
36
*97
*
23
"23"
14%
34
15
23
9%
10
85%
109%
110%
15
104%
102%
106%
101%
104%
106%
90
103
14
90
102%
103
107
33
102%
94%
35
103
1955
1955
Gen & ref
s
f
s
f 5s series D....1955
"14%
23
91%
J
36%
95
97
14%
Montecatlnl Mln <fc Agrlc deb 7s '37
Montreal Tram 1st & ref 5s
1941
Gen & ref s f 5s series B
303
7%
27%
26%
91
102
Gen <fe ref
2
14%
14%
1937
f 5s series A
88
91
1962
Deb 5s series A
50
36
Montana Power 1st 5s A..—..1943
s
89
76%
80%
36
79
*35%
{♦Mobile & Ohio gen gold 4s...1938 M S
♦Montgomery Dlv 1st g 58—1947 F A
♦Ref & impt 4 Ms
1977 M S
♦Sec 5% notes..
1938 M S
Mohawk <fc Malone 1st gu g 4s.l991 M 8
Monongahela Ry 1st M 4s ser A'60 IVI N
Gen & ref
6''%
37%
♦Certificates of deposit...
♦Mo Pac 3d 7s ext at 4% July..1938 MN
Mont Cent 1st gu 6s
-57
76
30%
~
27
1980 A
65
9
76
273
1949 MN
64%
20
49
1978 M N
7
351
49%
94%
"33
94
87%
76%
37%
35%
♦Certificates of deposit
♦Conv gold 5Ms
13
33%
36
"41
36%
35%
♦Certificates of deposit
♦1st & ref 5s series G
72%
102%
83
37%
m"s
——1977 IVI
71%
30
93%
83
8
..1975
70
102
32
363
36%
35%
♦Certificates of deposit
♦1st & ref 5s series I
100% 104%
99% 105%
91%
18%
81%
16
66
37%
♦1st & ref g 5s series H
77
9
14
69%
A
66
104
39
29%
15%
O
98% 102%
67%
23%
49%
52%
30%
27%
26%
10%
1965 F
17
101
74%
77%
Jan 1967 A
{♦Mo Pac 1st & ref 5s ser A
♦Certificates of deposit
43
1
93%
86%
76%
1978 J
73
80%
J
....1962 J
Prior lien 4 Ma series D
♦Cum adjust 5s ser A
163
52
5
33
40
D
40-year 4s series B
104% 106%
42%
38
*93
J
107
46%
29
91%
91%
{♦Mo-Ill RR 1st 5s series A
1959 J
Mo Kan & Tex 1st gold 4s.....1990 J
A.,.1962
32%
2
43%
30%
28%
J
65
50
32
42%
"43%
1941 M N
Mo-K-T RR pr lien 5s ser
36%
32
8
1978 J
35%
36%
J
113%
*69
J
4s int gu_1938
♦1st & ref 5s series F
97%
91%
102
105%
105
♦Ref & ext
119
96%
7
93
M
5
60
97%
105
J
{♦Milw & State Line 1st 3Ms.-1941
{♦Minn & St Louis 5s ctfs
1934 |M N
120
*98%
J
36
O
A
J
107
3
70
------
4s—1947
♦General 4s
75%
A
-3
gu
112% 116%
*98%
A
61
\ L>
1939
i,
{♦Mil-Spar & N W 1st
3
104
85
96%
106
104%
.1939
115%
*103%
103%
50%
100
74
*1%
M S
D
71%
91
36
*12
1938 J
1946 J
105%
O
3 M S
—3
1st ext 4Mb
Con ext 4 Ms
103% 108%
101
99% 100%
80%
_
6
101
102% 104%
36
M N
Metrop Wat Sew & D 5 Ms
1950 A
{{♦Met West Side El (Chic) 4s. 1938 F
72
1
99
41
Market St Ry 7s
71%
71%
88
*84
J
3
1951 MS
..1952 W1 N
1979 J
J
97
108% 113
104
*94
♦Mlag Mill Mach 1st s f 7s
1956 •»
Michigan Central Detroit & Bay
City Air Line 4s
...1940 *
91
86
78
S
ser A---April 1940 Q
J
Corp 1st 6s with warr...1945 M N
Metrop Ed 1st 4 Ms ser D
1968 M 8
109%
81
111% 114
29
N
1938
100%
O
91
*32
1st cons 5s gu as to lnt
1st & ref 6s series A
40%
41
3 F
ser
163
103% 107%
101% 104%
105
100
80 M
0
1st cons 5s
103%
104%
17
106
103 M
103 M
100
56
42
40
111%
113%
) A
s
-
96
109%
102% 106%
98
.....
107% 111%
103% 110%
96M
-
O
Mead
106%
*100
_
]
1st & ref
-
---
101%
5
111%
O
W 1st 3Ms—1941 J
Mfrs Tr Co ctfs of partlc in
A I Namm & Son 1st 6s
1943 * D
Marlon Steam Shovel s f 6s
1947 A O
115%
119%
Coll & ref 5 Ms series C
Coll & ref 5 Ms series D
s
--
102%
96 M
94
M
{♦Man G B & N
106%
J
3 J
104%
......
A
J
First and ref 6 Ms.—
1
Kinney (G R) & Co 7 M % notes 1
Kresge Foundation coll tr 4s..]
{♦Kreuger & Toll cl A 5s ctfs..]
4 Ms A
103
—
1
--
95%
—
*103%
]
Lake Erie & West 1st g 5s
2d gold 5s
—
*103%
J
1
Purchase money 6s
4Ms
33
]
Kings County El L & P 5s
s f
33
-
57%
9
*114
-
1977
105%
107% 109%
108
S
F A
W N
Manila Elec RR & Lt s f 5s
1953 W
Manila RR (South
Lines) 4s... 1939 W
♦Mex Internat 1st 4s asstd
103
70
108M109%
102 %
102%
108 %
109
90%
M
98%
113
110%
107% 109%
109%
102%
1955. M N
1959
10
*108
{{♦Manati Sugar 1st s f 7%s...1942 A
♦Certificates of deposit
{♦Manhat Ry (N Y) cons g 48.1990 A
♦Certificates of deposit.
♦2d 4s
2013 J
1st ext 4s
84
109
*103
133%
122%
118
112
*108
"ioi%
1952 J
♦Lower Austria Hydro El
6MS.1944
McKesson & Robbins deb 5 Ms. 1950
Maine Central RR 4s ser A
1945
Gen mtge 4Ms ser A
1960
131
1
113
121
97 %
97 M
1980
g 4 Ms
104%
98
102%
99% 104%
102
1946
Montg 1st
98
*103""
108"
J
O
2003
Mob &
14
111
96
"54
73
45%
74%
104% 106
104% 105%
.1941
ser D
Paducah & Mem Dlv 4s.
St Louis Dlv 2d gold 3s
"98"
102
2003
1st & ref 4 Ms series C
Gold 5s.
1940 J
137
121% 126
108
*106%
M N
Unified gold 48
1st refund 5Ms series A
6
124%
131
12
135
70 M
O
A
J
115
124 %
97 %
1950
deb 5s
122
134M
73
103% 107
....
*108%
P
A O
1938 J d
1949 M 8
1937 M N
1949 M 8
106
124
O
A
1952 J
1st & ref 4s
59%
67
1962 M N
p m
High
98
59
1951 F
ser
Low
High
107
V
....
95
40%
96%
106%
37%
53%
110i932113%
74%
87%
19
108%
*35%
102
67
44
S
84%
87
103
—]
Plain—..L
4M8 unguaranteed
Cons sink fund
87%
96
*40
....
Kentucky Central gold 4s
]
Kentucky & Ind Term 4 Ms.—]
Stamped
1
..... .........
4
108%
104%
....
3M
~
24
124
*27
Keith (B F) Corp 1st 6s.—1
Kendall Co 5 Ms
]
3
52%
95
i
)
28
86%
108%
J
2
56%
1101932 110%
95%
J
104%
50%
56
3 A
♦Certificates of deposit
K C Pow & Lt 1st
mtge 4%s._]
City Sou 1st gold 3s
1
Ref & impt 5s...
Kan
53
96
55
O
Since
Jan. 1
56
{{♦Milw&Norlstext4%s(1880)1934 J D
James Frank & Clear 1st
4s... 1
Kan & M 1st gu
g 4s...
1
{♦K C Ft S & M Ry ref g 48—1
Range
or
Asked
97%
2003 Wl N
Unified gold 4s
89
100%
&
59
2003 M N
5s
20-year
81
A
Bid
98
Little Miami gen 4s series A
Loews Inc s.f deb 3M8
102% 105
89%
F
89%
39%
105% 112
82
M N
Price
J
Leh Val Term Ry 1st gu
g 5s.-.1941 A
Lex & East 1st 50-yr 5s
gu
1965 A
Liggett & Myers Tobacco 7s—-1944 A
101% 103%
-----
105
86%
104
J
M N
J
Friday's
2003 M N
4s
Lombard Elec 7s
A
A
Range
Sale
Low
LehValNYlstgug4%s_....1940 J
75
89
102% 105
F
♦Adjustment Income Ss.Feb
Last
37%
124%
64%
103
102%
44%
*122
-
101
31%
-
-
69
107% 110%
*102%
*102%
102%
102%
IVI N
f 5s ser A...
110
103
70%
_
69%
J
J
Hudson Co Gas 1st g 5s
Hud & Manhat 1st 5s ser A
*122
_
M N
Houston Belt & Term 1st 5s
Houston Oil sink fund 5Ms A—
s
*107%
J
J
4 %s
102%
J
J
♦Hoe (R) & Co 1st mtge
102%
....
Week's
Friday
77%
Week Ended Aug. 1
Stamped.....
Co.
a
Members New Yorlt Stock Exchange
106% 107%
-
101
94%
101
97
FOR BANKS AND DEALERS
95
109% 121%
99% 107%
60
21
BROKERS IN BONDS
High
100% 103%
90
96%
J
885
Since
Friday's
Bid
Price
sft.
4
Range
Range or
Sale
rt
Week Enaed Aug. 7
Record—Continued—Page
Week's
Friday
10
9
25"
14%
15%
96
105% 111
103% 105%
102% 104%
106% 108%
97% 104%
66%
97
100% 104%
87
83%
88
85%
80
4Ms series C..1955
86
83
84
86
New York Bond Record—Continued—Page 5
886
Aug. 8, 1936
Week's
Friday
Last
BONDS
BONDS
RAILROAD
N.
sft,
Week Ended Aug. 7
Bought
Sold
-
LOBDELL & CO.
Members New York Stock Exchange
123 S. Broad St., Phila.
4
Kingsley 1030
___
NY 1-735
Y.
N.
Week's
Last
Range or
Sale
EXCHANGE
STOCK
Week Ended Aug. 7
Price
'
&
Asked
I!
High
No.
10434
9234
10534
15
Low
Morris & Co 1st
1939 J
3348.—2000 J
f 4?4s
s
Morris & Essex 1st gu
Constr M 5s series A
—
J
104?*
D
92 H
97
1955 M N
MN
1955
M N
6s—-1947
JVI N
5%—1941
(A I) & Son—See Mfrs Tr-
Constr M 434s series B
62
97 34
41
8834
8934
93
97
9034
75
Mutual Fuel Gas 1st gu g
♦11634
Mut Un Tel gtd 6s ext at
*11034
Namm
1978
Nash Chatt & St L 4s ser A
Nasb Flo & 8 1st gu g 5s
1937
.-1951
Nassau Elec gu g 4s stpd
Nat Acme 1st
F
91
*
F
"6634
J
W..1951
Nat Distillers Prod deb 4 34s. -1945
Nat Ry of Mex pr lien 4 ?4s
1957
♦434 ft Jan 1914 coup on
1957
♦434s July 1914 coup on..—1957
♦434s July 1914 coup off..— 1957
M N
10634
10634
M N
10434
10434
-
♦Assent
warr
J
J
J
J
J
♦234
♦234
*334
& rets No 4 on '57
A
♦4s April 1914 coupon on
1977
A
1977
♦4s April 1914 coupon off
♦Assent warr & rets No 5
on
s
1951
on
O
2%
1
D
234
10W
10634
65
D
*146
10634
10434
52
*
.
N J Junction RR guar 1 st 4s..
_
New Orl Great Nor 5s A
1986 F
"534"
234
134
65
5
8834
1954
A
1948 A
10-year 3?*s sec s f
4134
12
4334
4334
21
U434
9934
9934
251
42
9934
9934
'
11334
9834
9834
90
9534
101
120
91
140
97
102
217
67
10534
9134
63
14
9334
10334
9634
9434
10234
10134
S
10334
27
103
9334
120
345
97
9854
53
A
"_623i
Serial 5% notes.
1938
NY Edison 1st & ref 6 ?4s A—1941
1st lien & ref 33*s ser D__.j_1965
O
10734
58
10834
A
10834
16
10834
A
10834
6334
2
6154
58
O
105*32 105*32
o
10234
10234
2
58
18
105'5,6
10234
69
125
10
H534
116
14
11534
1946 M N
N Y & Harlem gold
334s
2000 M N
N Y Lack & West 4s ser A....1973 MN
4 Ms series B
1973 M N
27
—10434
D
A
32
92
9334
N Y Connect 1st gu 4 34s A—1953
1st guar 5s series B...
1953
N Y Dock 1st gold 4s_—
1951
1949
114
8934
O
2
100
*106
98
99
NYLE&W Coal & RR 534s_1942 M N
N Y L E & W Dock & Impt 5s. 1943 J. J
10534
*10234
*10434
N Y & Long Branch gen 4s
"69" ""44
4
106
*106
106
1941 M S
t*N Y &N Eng (Bost Term) 4s 1939 A O
i*N Y N H & H n-c deb 4s.__.1947 M S
♦Non-conv debenture 3348.-1947 M S
♦Non-conv debenture 3 34s. .1954
♦Non-conv debenture 4s
1955
♦Non-conv debenture 4s....1956
♦Conv debenture 334s_—_1956
♦Conv debenture 6s.__
_1948
♦Collateral trust 6s
A
J
J
J
General
gold
Terminal 1st gold 5s
7734
8334
4534
7734
122
12634
334s series B._
1966
Paducah & 111 1st s f g 434s—1955 J
{{♦Pan-Am Pet Co (Cal) conv 6s '40 J
♦Certificates of deposit
102
♦1st M
f g 3s loan ctfs
Paramount Pictures deb 6s
75
90
52
80
Parmelee Trans deb 6s
9934
9434
36
42
4334
3234 14334
52
75
105«32109 34
10134 10234
12234 12534
11334 11634
9234 10034
102
39
24
37
2434
J
M N
5
5234
10534
53
10634
10534
2
50
M N
N
10634
10534
"W
*109
10934
10634
MN
10634
106
10634
12
106
10734
106
Gen mtge 4?*s series E.
1984
Peop Gas L & C 1st cons 6s... 1943 A
J
Peoria & Eastern 1st cops 4s.
♦Income 4s
2.
April
g
'
Pitts Y & Ash 1st 4s
9234
100
102
10134
10134
1
11034
11034
24
~85~~
8034
8334
1234
1234
11034
8034
8534
1334
10834
10334
Poeah C & C joint 4s
1941 J
D
.1961 F
S
Aug 15 1963 F
10634
*10334
10534
10334
Nov 15 1969 MN
see page
887.
105
10534
10634
96
9
105
1Q634
93
"42
10334
A
A
80
80
109
1634
A
1957 M
ser
12
52
1834
11834
11034 11154
20
121
1434
North Amer Co deb 5s
ser
A
1st gen 5s series B
9134
11834
10634
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10034 104
.
10634 110}*'
993* 102
93
5
....
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30
30
55
57
102
10134 10434
10234 10434
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5934
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4834
73
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102
4734
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....
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...
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62
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11434
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10534
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11234
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llOJf
3
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---.
*111
_____
...
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.....
-
1964
1970 J
D
1975 A
O
11934
1977 J
J
10734
12034
120
.
1073*
*10934
92
92
-
5
120
119
-
12034
120?4
11934
....
11134
121
10634 113
76
92
9
17
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983* 10534
89
9834
■
89
1003*
111
113
120
124
113
11734
110
11534
1033* 1063*
105
109
1033* 10834
37
55
3234
153*
34
253*
10634 109
70
85
11134 11234
111
114
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1103*
110
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111
....
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12034
A
11134
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*112'
11034
105
-
...
10634
....
9934
10534
10534
11534
U
16
*111
114
11534 12034
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21
14
.....
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99
1053*
10334 10734
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112
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-
5
1073*, 1073*
10334
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104
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J
M N
1
-
..
73
60
.
—
-
42
4934
11934 12234
-----
10634
.
1945 MN
.1949 F
...1953 J
3234
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22
12234
783*
*
.
34
39
723*
*122
......
.....
55
88
111
—
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2
30
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23
10734
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109
11334
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118
121
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116
1213*
107
110
1093* 1093*
....
6
73
9234
5
75
92
40
74
9234
923*
1958 A
1960 A
1st gen 5s series C
72
*
10334
J
1963
1st M 4J4s series B__
1st M 434s series C
87
11834
J
Pitts Va & Char 1st 4s guar
1943 MN
D
♦Pitts & W Va 1st 4?*s ser A..1958 J
54
.1998 O A
10334
J
.—1957 MN
—.I960 F A
Series J cons guar 4 34s
General M 5s series A
General mtge 5s series B
General 434 s series C
46
6s.__1941 M N
N & W Ry 1st cons g 4s
10334
1942 A O
1942 M N
Series G 4s guar
Series H cons guar 4s
Series I cons 4 34s.._
45
♦Certificates of deposit
{{♦Norfolk & South 1st
A
1977 J
...1940 A
Pitts C C & St L 4 34s A
Series B 434s guar
8
1734
102
Plllsbury Flour Mills 20-yr 6s_. 1943 A O
Pirelli Co (Italy) conv 7s
1952 M N
3
11934
Apr
Phila & Reading C & I ref 5s_. 1973 J
Conv deb 6s
1949 M
Philippine Ry 1st s f 4s.
1937 J
27
1734
10034
10134
..
86
11934
10834
55
10034
sec
70
A
1233*
105
104
102
110
O
D
5s series A...—. 1967 J
Phila Elec Co 1st & ref 434s.
1967 MN
1st & ref 4s..
1971 F A
Phila Co
8534
F
O
1943 MN
1974 F A
General g 4 34 s series C
General 434s series D...
6634
ref 5s..1961
1990
1980 M
1st g 4 34s series C
Phila Bait & Wash 1st g 4s
General 5s series B.__
J
*10734
10234
1940 A
Peoria & Pekin Un 1st 534s-—. 1974 F
Pere Marquette 1st ser A 5s... 1956 J
1st 4s series B.
1956 J
A
j"j
O
1947 M S
Refunding gold 5s.
A
ser
1948 M N
D
F
90
J
1981 A O
1943 MN
O
J
"9034
119
O
9134
9134
92
O
9134
91H
9134
1948 J
D
*109
A
*U9?4
10734
14
1981 J
1968
36
106
118
1
65
10134
109?*
10134
10134
-.
Debenture g 4 34s.......... 1970
General 4343 series D
1981
8454 101
"~~7
31
O
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8634
22
102
*60
D
D
5134
2634
4034
5634
3234 4934
103
10334
8234
9334
10454 107
3134
5334
9934 10534
10634 10834
10834 111
10034
10134
MS
1965
28
25
5
.....
A
3534
1534
2434
102
D
1960
31
M N
J
General 434s series A
106
108
10134
121
3
44
48
4s sterl stpd dollar May 1. 1948 M N
1970 A O
9434 10054
103
107
......
Gen mtge 3?*s ser C—
Consol sinking fund 434s
7054
7754
10634
J
1963 F A
....
103
59
1203*
D
1944
434s series Br......—...
Pennsylvania P & L 1st 434s
Pennsylvania RR cons g 4s
Consol gold 4s
8634
9634
10134 10434
9234
9834
105*32109
10634 10834
1203*
D
34s A.
98
88
5
11934
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28-year 4s...
9134
82
2
111?*
-----
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7434
11334
......
J
100
90
U334
.....
89
100
1033*
1113* 114J*
1113* 115
109
11334
....
U934
.....
Penn Glass Sand 1st M 434s... 1960 J
Pa Ohio 6c Det 1st & ref 4
1977 A
10254
1133*
102
11134
.....
Penn-Dixie Cement 1st 6 s A__. 1941
98
11334
111
......
8834
119
97
112
1
......
.
110
9934
91
1083*
2
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8034
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393*
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103
......
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24J4
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..
1123*
112?*
112?*
J
1942
Guar 334s trust ctfs C
Guar 334 s trust ctfs D
Guar 4s ser E trust ctfs
42
30
9754
.......
.
54
*
J
♦Paulista Ry 1st ref s f 7s
1942 M S
Penn Co gu 334s coll tr A.--.-1937 M S
Guar 334s coll trust ser B...1941 F A
8034
-
.
—
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2434
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---1944
78
3834
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D
Pat & Passaic G & E cons 5s..1949
30
"9034 "53
3
-----
101
......
8834 100
31
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10634
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-
1955
1834
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mmm
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1734
3634
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1203*
534s—-1968
{♦Park-Lexington 634s ctfs-—-1953
10534 10734
3034
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57
30
1955
s
18
54
106?4
10834
Paramount Broadway Corp—
3034
41
105?*
108 H
......
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108
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10434 107
10834
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11934 123
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58
....
107
M
9934 109
....
..
104 J4
......
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1938
..
4
10434
D
.1964 J
Series D 4s guar
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Series F 4s guar gold
O
A
A—1941
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O
F
-
10334
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-1937 J
41
10
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2334
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2634
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3
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4034
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5s..—-..1946
& ref 5s A.1942
15
4034
107
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5s—1946 J
—1946
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102
D
10634
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1937
1943
Pacific Coast Co 1st g
3934
2734
2734
...1943 M N
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For footnotes
6134
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2934
8434
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1961
3134
I4?4sl946
Niag Lock 40 Pow lst5sA_._ 1955 A O
Niagara Shire (Mo) deb 5348—1950 M N
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1950 A O
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27
1946
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com g
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31
2734
2734
J
J
—1947
38
Telep 1st & gen s f 4Ms.__ 1939 MN
N Y Trap Rock 1st 6s
D
1946 J
6s stamped
10934
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2634
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t*N Y Westch & B 1st
100
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1940 F
5s
112
22
J
J
1948 J J
Ohio Connecting Ry 1st 4s
1943 M S
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.—1965 MN
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1946 A O
3834
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M
93
107
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1964 MN
J
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45
106
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J
t N Y Rys Corp inc 6s....Jan .1965 Apr
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1965
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1951
N Y Steam 6s series A..
.1947
1st mortgage 5s
1951
1st mortgage 5s
...1956
N Y Susq & West 1st ref 58
1937
2d gold 4]^s
1937
2634
J
1957 M N
♦let & ref 434s ser of 1927.. 1967 J
D
♦Harlem R & Pt Ches 1st 4s. 1954 M N
_
101?4
11034
1941 A O
1941 A O
O
♦Debenture 4s
N Y O & W ref g 4s.—.—June
1992
General 4s
1955
t*N Y Providence & Boston 4sll942
N Y & Putnam 1st con
gu 4s.. 1993
NY Queens Ei Lt & Pow 3
Hs. 1965
10034
11134
1st & ref 6s ser B—
3834
3734
3734
3734
MN
1940 A
m
10334 10734
10034 10234
10434 10534
10534 10554
10034 10034
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10334
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8534
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10034
J
109
9534
9234
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10534
91
9634
F
N Y & Erie—See Erie RR.
N Y Gas El Lt H & Pow g 5s__1948
61
26
10534
F
Refunding 5 34s series A.....1974 A
Ref 4?4s series C_.
1978 M
3-year 6s
..—Oct 1 1938 A
6
*11034
11434
102
N Y Chic & St L 1st g 4s......1937 A
Purchase money gold 4s
N Y Greenwood
£ gu g 5s
10
87
4034
9634
N Y CeDt & Hud River M 334s_1997 J
Debenture 4s
_l942 J
Ref & impt 434s ser A
2013 A
3?4s—1998
Mich Cent coll gold 3^3
1998
35
40
91
2013 A
..2013 A
Lake Shore coll gold
82
4134
J
1944 MN
1998 F
Ref & impt 4?4s series A
Ref & impt 5s series C
47
9334
3434
43
1945 J
Consol 4s series A
30
4034
4134
4034
1954
N & C Bdge gen guar 4?4s
N Y Cent RR conv 6s___,
26
9934
9934
9434
9434
1956
♦1st 534s series A.
8934
80
99
"4134"
1956
634
58
75
inc 5s._ 1935
*634
12034 122
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9834
2J4
23*
234
107
10734
9834
434
634
434
10634
9934
New Orleans Term 1st gu 4s... 1953
434s series D.
105
334
12234
10734
1955
♦1st 5s series C_
103
"2%
1
1983
♦kst 5s series B
5734
7334
10434
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102
7434
J
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16
NO&NE 1st ref& Impt 4 34b A_ 1952
♦1st
9234
10434
234
334
12234
*10134
A
New Orl Pub Serv 1st 5s ser A. 1952
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86
75
104 34 11234
167
8034
Og & L Cham 1st gu g 4s
103
87
78?*
75
65
77
109
8034
763i
69
108
109
64
77
♦74
J
3
76?*
F
Ontario Transmission 1st 5s___1945 M N
6334
12534
12534
1952 J D
1961 MN
76
*74
...—
High
120
12134
11234 115
....
-
—
J
Nor States Pow 5s ser A
Oregon RR & Nav
"74"
J
1960
4^s
84
9434
9834
9234
234
234
*12134
J
1st g 4 ?4s series B
n-c
"~5
*234
*234
O
1945 J
1945 J
New England Tel & Tel 5s A..
{{♦N O Tex <fc Mex
10334
6634
*334
J
5s.... 1948
cons
♦New England RR guar 5s
♦Consol guar 4s
N J Pow & Light 1st
J
1954 MN
{♦Naugatuck RR 1st g 4s
Newark Consol Gas
*234
234
'51
1965
f 4s
27
91
*234
O
2%
♦4s April 1914 coupon on...1951 A
A
Nat Steel 1st coll
O
'77
Nat RR of Mex prior lien 434s—
J
♦Assent warr & rets No. 4 on. 1926
♦4s April 1914 coupon off
♦Assent warr & rets No 4
90
90
High
10534
*3
J
104
10934 11634
10834 11034
*10434
.1942 J
s I 6s
Nat Dairy Prod deb 3?*s w
91
Low
Low
*11434
J
6s,series B
Ref & impt 5s series C
Ref & Impt 5s series D
Nor Ry of Calif guar g 5s
Since
Since
Jan. 1
2047
—2047
2047
1938
Ref & impt
Jan. 1
No.
High
*121
S
§
05 6(5
A.—2047
Ref & impt 434s series
Range
Friday's
Did
S
M
|
Asked
&
M
April 1 1935 Incl coupons. .1945
North Pacific prior lien 4s.-5_.1997 Q
Gen lien ry & Id g 3s Jan..-.2047 Q
Friday
£1
BONDS
Bid
Low
1974
1974
{Northern Ohio Ry 1st guar 5s—
♦April 1 1934 & sub coupons. 1945
♦Oct 1935 and sub coupons# Id
♦Stpd as to sale'of April 1 '33 to
Gen & ref 4 34s series A
Range
Friday's
Price
Quoted
-
North Cent gen & ref 5s
48 Wall St., New York
HAnover 2-1720
A. T. & T.:
Range or
Sale
EXCHANGE
STOCK
Y.
28
63
1234 2234
10534 108
9634 10334
11934 155
1234
2234
1234 2134
51
"l8
6
10634
106
21
53
,
2
47
6334
115
122
10634
10334
10234
10334
10134
10734
106J4
10534
1st 434s series D___
Port Arthur Can & Dk 6s A
1st mtge 6s series B
..1962 F
1953 F
A
103"
l03~"
10334
A
103
103
103
-
D
S
f deb 5s
1948 J
{♦Radio-Keith-Orph pt pd ctfs
for deb 6s & com stk (65% pd)...
J
J
J
Gen & ref
107
Gen & ref
434s series A
434s series B.
1997 J
J
1997 J
J
7134
5
*1063*
.
7634
29
97 H
96
97?4
10?*
*84
—
—
-
10?*
16
64 *4
2734
11
3
91?*
169
11634
11434
11734
10334
983*
1043*
6
983*
9834
64
73
80
9
82
4134
100
2134
79
9234
11034 13134
10234 1053*
913* 103
158
1003*
46
158,
8234
963* 10034
25
10634 10834
*10034
73
773* 10334
793* 103
80?*
663*
1043* 108
153
75342734
.
6
65
72?*
2834
D
{♦Debenture gold 6s
—1941 J D
Reading Co Jersey Cent coll 4s. 1951 A O
106
7234
J
J
{♦Postal Teleg & Cable coll 5s. 1953 J
J
{{♦Pressed Steel Car conv g 5s.1933 J
{♦Providence Sec guar deb 4s__/l957 M N
{♦Providence Term 1st 4s
1956 M S
J
Pure Oil Co s f 434 s w w
1950 J
J
434s without warrants
1950 J
s
11934 11934
D
1953 F
Port Gen Elec 1st 434s ser C..1960 M
J
1st 5s 1935 extended to 1950
Porto Rican Am Tob conv 6s
1942 J
Purity Bakeries
123
1974 J
1977 J
.
75
1003*
99?*
106?*
10634
107
1063*
1063*
3
2
63
1053* 108
Volume
New York Bond
143
bonds
N. Y. STOCK EXCHANGE
Last
Week Ended Aug. 7
Price
Asked
&
§3
.
♦Rheinelbe Union
s f 7s
1946 j
♦Rhine-Ruhr Water series 6s___1953 j
58
106
110
113"
Third Ave RR 1st
g 5s
Tokyo Elec Light Co. Ltd—
114?*
164
106
126
97 %
U4M
98 %
98 %
95
1st 6s dollar series
Tol & Ohio Cent ref &
"loi"
107%
18
106
104
13
102 %
105
32
7
104
J
,
24
34
TrI-Cont Corp 5s
25%
6
23
33M
26
26 M
26
1
23
33 M
a
'55 a
O
"26M
26
26M
12
23 M
33M
(vi N
42 M
42
45
74
37
43 M
42 m
M
44 %
*
J
j
& coll trust 4s A_._. 1949 a
83 M
44 m
♦Ruhr Chemical s f 6s
44
1949 J
27
j
26
110m
103 %
J
J
*75
79
~7~9%
79 m
j
j
j
J"j
5
15%
14 M
28 M
73
17M
I
28%
27%
25
22 M
92 M
23
86
75
101?*
7
15
14%
13%
76 M
101%
~22%
18%
>
104 M
& Halske s f 7s....1935 j
%
99%
89
10
5%
8M
8M
9
68
4%
7%
6%
8
79
6%
19
O
4
3%
a
35*
*13M
35*
35*
3%
107?*
108
4M»
"49
3%
13%
97
97
85
85
125
85
60 %
60
*
56
24 %
57 M
90
107 M
106 M
107 %
106
25
114?* 125
1065* 108M
8
84
80?*
98
135
87 M
98M
93
152
76 M
93
93
91M
93
84
77
93
93
91M
93
168
76 %
93
95
113M
113M
113K
72
*105
105M
....
106?* 118
105
106?*
j
j
J
104M
104 M
105M
163
J
j
107 M
106M
107M
91
77 M
289
92 M
53
99
68 M
95
175
71M
98%
....
a
o
77 M
a
o
94 %
o
97%
99?*
99?*
1
J
91M
92 M
33
*102?*
103 M
M
s
M
s
87
J
d
108
j
105M
1961 j
D
99 M
j
D
J
102
106M
1947 a
O
97
j
8
o
1944 F
a
1953 j
Texarkana & Ft S gu 5 Ms A. .1950 F
Debenture
D
3Ms
J
a
1944 A o
1951 j D
Tex & N O con gold 5s
1943 J
2000 j
100 %
...........
--
109 %
106%
101%
102%
D
99?*
105J*
97
99% 1065*
a
♦Adj inc 5s tax-ex N Y__Jan 1960
O
105M
87
-.
7
14?*
102
104 %
106
139
98M
5
975*
8
103?*
2
5
s
J
*105?*
96?*
5
110
O
26
"n"
20m
106m 109m
58
70
104
97 M
30
1045*
105M
.1939 m n
103M
102 %
62
93
103M
93M
*75
84%
1939 f
-
A
1954
*102?*
66
1941
-----
*74
1941
79 M
66
34
35?*
17
....
....
4
99
*975*
105 m
81
97%
103?* 105m
98 M
1045*
96 M
84?*
67?*
78M
100M 102 M
72
82%
60
77
89
38
35?*
98%
26?*
38
26
gen
34
59
27
36 M
32?*
~34M
32?*
1
25
31
32?*
46
26
35 M
30.M
30 M
34 M
24 M
26
36?*
25
"34M
1978 AO
"33 %
32%
A
33
32 M
1976 F
34 M
1980 AO
33M
'
2
23
32?*
107M
83
79M
60
70
84
90
92
20
71
92%
95
97 M
85
86
98%
29
28
29
22
28
46%
59
59 M
2
41m
69
58
58
58 M
14
41?*
69
J
79?*
77
83
98
98
4Msl945
107 M
106
1955
79 M
78
1955
91
97 M
.1939
{♦Warner-Quinland Co deb 6s. 1939
♦Warner Bros Co deb 6s
1941
♦Deposit receipts.
Warren RR 1st ref gu g 3 Ms. .2000 F
*
A
Washington Cent 1st gold 4s..1948 Q IVI
Wash Term 1st gu 3Ms
Wash Water Power s f 5s
F
...1945
1945
108 M
A
.1939
1st mtge 4s ser H_.
■
108 M
.
.
103?* 108?*
-
5
105m 108m
109m 110m
-----
39
no
110M
124
1
121m 125
122?*
3
119
122
^
-
*109
—
-
-
110
112
123
108
-
1952
102 M
101%
102 M
90
.1977
107?*
107%
107 M
28
Western Maryland 1st 4s
94 m 101
124
w
122
1961
1
108M
*110M
110?*
Westchester Ltg 5s stpd gtd.._1950
West Penn Power 1st 5s ser E.1963
1st & ref 5Ms series A
.
1937 j
1943 a
Gen gold 4s
♦5s assented
1946
g
25-year gold 5s.
4Ms..-1950
1951
......I960
2361
Wheeling & L E Ry 4s ser D..1966
......
s
110
96 %
ivi N
108?*
J
102m
108
S
J
101** 104 %
3
106
110m
72
105M
108?*
107?*
105?*
107?*
1C
105
107
36
103
108 %
32%
32%
44
42?*
106M
56
103% 106M
108 M
47
104
24?*
91M
25M
8
22%
33m
92
44
85
96
86
2
81
91?*
J
s
f
4
78
35 M
%
105?*
------
J
M
109
86
106
d
j
106
36
34
J
35%
105%
*105
-
-
109
92
104
-
107 m
111?*
111?*
2
101?*
101M
101?*
62
99
101m
101
1C0M
101
6
90
101M
24?*
1
18m
18M
31%
45
67
111M
1949 m s
Wheeling Steel 4mb series A...1966
alOlM alOl?*
110
109?*
34
ivi
30-year 5s
♦Westphalia Un El Power 6s.. 1953 J
West Shore 1st 4s guar
2361 j
Registered.
-----
1946
...
Funding & real est
J
O
35 M
ivi
Western Union coll trust 5s... 1938 j
A
1940 M n
White Sew Mach deb 6s
{♦Wickwire Spencer St't 1st 7s. 1935
j
J
♦Ctf dep Chase Nat Bank
♦Ctfs for col & ref conv 7s A. 1935 MN
Wilk & East 1st gu g 5s
1942 j D
Will & S F 1st gold 5s
1938 j D
Wilson & Co 1st M 4s series A. 1955 j
24"
j
J
j
-
107 m 112m
24
25 M
101
65
66M
28
*105
107 M
-
-
101M
-
M
-
-
-
101?*
101?*
110 M
*108
{^Sup & Dul div & term 1st 4s '36 MN
{♦Certificates of deposit
107%
99% 102
107
111**
24
21M
24 J*
23
108
15m
19?*
17
15m
14 M
13 M
14M
25
*9
J
9
9
12
*10
31
106 %
70
----
23
{♦Wis Cent 50-yr 1st gen 4s... 1949
,
-
M
65 M
j
1960 J
Winston-Salem S B 1st 4s
♦Wor & Conn East list 4Ms..-1943 J
99M
24?*
.
25m
25m
15%
14%
21
21
104
25'
107
Youngstown Sheet & Tube—
1970 A O
1951 F A
1961 IVI N
1st mtge s f 5s ser B
81M 117
105
Conv deb 3 Ms
107%
1st mtge s f 4s ser C
*10511,6
126
117M
126 M
901
102
101
102M
182
1UO** 126**
98M 102%
74% 1005*
124?*
120
103
105
102
94
110
116
10
116
111M
1185*
108 %
1095*
6
106?*
106?*
46
10D932 101 %
102
102?*
106
*104?*
122 %
122 M
100
101
e
105 M U1M
87 M 107
99 M 105
20
117M 126M
36
98
104?*
36
97
105?*
105M
23
97
105?*
M
105 M 109 %
*108?*
109M
71M
70 M
71?*
54
38 M
36 M
38M
87
57%
22%
71%
43
Cash sale only transaction during current week,
transaction
during
current
week,
current week.
104 M
105
No sales.
r
102?*
Cash sales transacted during the current week and not Included in the yearly
range;
1011932105
175
105
...■-
105M
6s debentures
----
148
3
13?*
108?*
65
1939
at
n
a
Deferred delivery sale only
only transaction during
Under-the-rule sale
{ Negotiability impaired by maturity,
exchange rate of $4.8665.
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.
No sales transacted during current week.
♦ Bonds
selling flat.
z
Deferred
delivery sales transacted during the current week and not Included
in the yearly range;
No sales.
1
-
Warner Bros Plct deb 6s
34
14
106M
11
63 M
♦Certificates of deposit...
104 M 108M
10
103 M
D
,
57 M
38
104 %
1979
99%
92M
97% 102%
101
116
107M
77M
78
110
O
1980 j
85
110
O
Gen & ref 5s series D
_
-
-
-
101M 101M
100?*
a
Tex Pac Mo Pac Ter 5Ms A..1964 M s
J
Third Ave Ry 1st ref 4s
1960 j
99 M
M
1977 a
Gen & ref 5s series C
19
*124?*
103?*
j
Texas & Pac 1st gold 5s
Gen & ref 5s series B
39
105 M
105
*103 Mj
8
A
108
108
107 %
98
....
87
83
19
A
j
Texas Corp conv deb 5s
97?*
j
ivi
4s
95
J
Swift & Co 1st M 3?*s
s f g
75%
94
96 M
1951 j
♦Studebaker Corp conv deb 6s.
1st cons gold 5s
w
135*
107?*
13?*
108M
d
3
-
s
1966 ivi
RR 1st consol 4s
M n
-
3
101
Walworth Co 1st M 4s
95
97 M
91M
Tenn Elec Pow 1st 6s ser A... 1947 j
1958 a
Walker (Hiram) G&W deb
102 M 106 M
98
Tenn Coal Iron & RR gen 5s.. 1951 J
5s...
-
-
25*
*2M
1955 mn
West NY&Pa 1st g 5s
93
93 M
*1085*
J.j
.1942 J
A
{♦Western Pac 1st 5s ser A
*125
_
-
♦Certificates of deposit
•
103% 106m
S
Tenn Cop & Chem deb 6s B...1944 ivi
ser
-
85?*
95%
106 % 108
107 m 107 m
2m
6m
31M
96%
105%
ti
J
{♦Spokane Internat 1st g 5s...
Staley (A E) Mfg 1st M 4s___. 1946 f
Gen refund
;
88 M
J
4MB—1939
108
-
j
♦Certificates of deposit
59% 1035*
42%
54M
*55 %
a
Term Assn of St L 1st g
108
4 mb.-1934 J
♦Ref <fc gen 5s series B
975*
81%
*103 Mt
94 %
1st 4s stamped
Terr Cent 1st 6s A or B
gu
15
...
105M 109
M
M n
3Ms_...
90
1st 40-year guar 4s...-_
97M
ivi N
Standard Oil N J deb
88
5 Ms A.1975
♦Certificates of deposit
6%
o
cons
{♦Wabash Ry ref &
9M
13M
11%
24%
7%
m
Staten Island Ry 1st 4 Ms
88
Toledo & Chic Div g 4s
10 M
m
S'west Bell Tel 3 Ms ser B
76 M
74
"
guar
.....
71
Des Moines Div 1st g 4s
Omaha Div 1st g 3Ms
8M
5%
105m
g 5a
75
74?*
74
Det & Chic Ext 1st 5s......1941
21
3%
"98 %
Mem Dlv 1st
78
60
76
1959
21
12 M
3
99%
St Louis Div 1st g 4s
East Tenn reor lien g 5s.;
Mobile & Ohio coll tr 4s
64
57?*
1947
1st lien g term 4s...
19%
11%
15
4
105M
Devel & gen 6 Ms
6b
145
♦2d gold 5s
114M 120M
13
20%
12M
14
5*
J
__
95m 104M
97 m 104**
♦Certificates of deposit
♦Ref & gen 5s series D
36
5
o
Southern Ry 1st cons g 5s
Devel & gen 4s series A
Devel & gen 6s
30
66
15%
1951 J
5s..
72
232
72
71
255*
15
1950 A
a
33 m
104?*
♦Ref & gen 4 Ms series C
16 M
4
95
•
29 m
M
103 M
66
23
D
27
33 m
66
118
Socony-Vacuum Oil 3 Ms
J
29 M
35m
131
103m 107 m
33
26M
12 5*
j
8
27
28
5%
J
71
27m
255*
*13
J
107
103?*
100%
5
j
106?*
29?*
33
26
*14
o
J
113
25
29 M
30
Skelly Oil deb 4s
A
108
31
*28?*
{Wabash RR 1st gold 5s
111%
108M 114%
34
62%
35
*25
60 M
130
113
*26 M
--
*28?*
Virginian Ry 3Ms series A
108
114m
111%
114%
*25
J
111
131
..
31
5M
5M
♦Debenture 8 f 6 Ms
L...1951 m s
Sileslan-Am Corp coll tr 7s
1941 F a
Silesia Elec Corp 6mb
1946 F a
3
120
...
102?*
117M 124 %
111
108
101 % 104m
106% 109 %
98
103%
66 %
1st
27
16%
103M 107M
120 %
111?*
114%
1951 ivi N
115
103
102 M 104M
104M 107 M
J
Shell Union Oil deb 3Ms...—1951 ivi S
Shinyetsu El Pow 1st 6 Ms
d
1952 j
123
111**
1951
'
92%
8
.1935 F
1
49
111
107 m 111%
109
118
106?*
j
{♦Vera Cruz & P 1st
106 M
99
1933 m s
45
104% 106M
21
17m
119
122m
131
s
ivi N
22%
105
17M
27
103
99 M
m's
101?*
s
8
89 %
99**
104% 107 m
103?*
101M 102M
105
18
O
o
25 M
120 m
{♦Seaboard All Fla 6s A ctfs..1935 A
con gu g
90m
QMs ser A... 1947
f 6 Ms series C
Util Power & Light 5 Ms
Debenture 5s
100% 102 M
101 %
J
•
So Pac Coast 1st gu g 4s
So Pac RR 1st ref guar 4s
J
D
Vanadium Corp of Am conv 5s. 1941 a O
Vandalia cons g 4s series A.*..1955 f A
Cons s Ms series B
1957 m n
106"
o
So Pac of Cal 1st
102
Va Irop Coal <fe Coke 1st g 5s. .1949 ivi
Va & Southwest 1st gu 4s
2003 j
104 Mt
1959 A
Southern Colo Power 6s A.
107?*
101 M
113
45
*
♦Certificates of deposit-....
cons
104
107?*
28%
*14
Sou & Nor Ala Gen
103
94
g 4S..1950 a o
♦Certificates of deposit...
{♦Gold 4s stamped
1950 a o
♦8Siemens
104
45
118
deb 4 Ms
112?*
42 m
26
conv
111M
Virginia El & Pow 4s
1989 m n
Sharon Steel
112?*
IMuIy coupon off
♦Vertlentes Sugar 7s ctfs
25?*
♦Series B certificates
s
70%
A
23
ivi
69%
*19 m
♦Ctfs. of deposit stamped
a
♦Adjustment 5s
Oct 1949 F
118
13
69
39 %
8{♦Seaboard Air Line 1st
118
....
120?*
118?*
40
50
Stamped
21
i,?o?*
115
81
O
120M
A
109
70
101m
1946 A
..1945
s
*19
o
114
61%
Stamped
V
1085*
66
1943
28
115
60
1937
6s series A
92
*105
Santa Fe Pres <fc Phen 1st 5s.-1942 M s
Schulco Co guar 6 M8
j
1946 J
cons
224
92 M
90 M
18%
98?*
106 M
107 M
108M
70
101%
98
106
*106 %
j
60 M
1940
1972
♦Certificates of deposit
{♦Atl <fe Birm 1st g 4s
99 m
94 m
79
s
44 %
S A & Ar Pass 1st gu g 4s
1943 J
San Antonio Pub Serv 1st 6s__1952 J
♦1st &
130
90 m
84 m
25%
27%
{♦St Paul E Gr Trk 1st 4M8.—1947
{♦St Paul & K C Sh L gu 4 ^8-1941
{♦Refunding 4s.
90
99M
Utah Lt & Trac 1st & ref 5s.-.1944
Utah Power & Light 1st 5s
1944
27%
76
26 %
1937
Scioto V & N E 1st gu 4s
*85
2
99 M
95
{♦Universal Pipe & Rad deb 6s. 1936
135
21
4s.. 1968
f 6Ms series B
51M
80M
27%
1937
St Paul Un Dep 5s guar
79
34%
25M
24
1990
Mont ext 1st gold 4s
tPacific ext gu 4s (large)
115
120
j
1968 j
♦Sink fund deb
27%
21M
St Paul Minn & Man 5s_.
81
80 M
36
"~24M
ctfs
1989 M n
♦2d g 4s lnc bond ctfs
J
Nov 1989 J
♦1st terminal <fc unifying 5s..1952
g
67 M
71
26
u
{♦St L SW 1st 4s bond
con
47
24
265*
24 M
27M
1978 MB
♦Gen & ref g 5s ser A
St Paul City Cable cons 5s
lolm 106"
120m 122
1
122?*
*85
A
86 m
107 m
96m 102
5
106
120
99%
ivi N
U S Rubber 1st & ref 5s ser A.. 1947 j
♦Un Steel Works Corp 6mb A.. 1951
87
26
80%
34 %
80
♦Ctfs of
Guaranteed 5s.
St Paul & Duluth 1st
M
*75m
1950
120
J
High
100% 103m
----
106
ivi
{{♦United Rys St L 1st g 4s...1934
USPipe&Fdy conv deb 3MS--1946
♦Sec
ivi N
{♦St L Peor & N W 1st gu 5s...1948 J
St L Rocky Mt & P 5s stpd.._1955 J
{♦St L-San Fran pr lien 4s A...1950 J
♦Certificates of deposit
M4Hb series A
deposit stamped
42 M
78
1952 f
United Biscuit of Am deb 5S..1950 A
United Drug Co (Del) 5s-_.i-.1953 ivi
U N J RR & Can gen 4s
1944 ivi
107 % 110M
103
105M
85
92
*90
O
7s
Gold 4s
43
24%
110M
*103m
sec s f
12-year 4s conv deb
1947
Union Pac RR 1st & Id gr 4s... 1947
1st lien & ref 4s
June 2008
1st lien & ref 5s
June 2008
22 M
35
24M
24M
27%
J
M n
A
54
13
20
"24M
24 j*
St Louis Iron Mt & Southern—
♦Certificates of deposit
M
*24
1941 J
_1|33
deb A. .1953 j
{{♦Union Elev Ry (Chic) 5s...1945 A
Union Oil of Calif 6s series A.. 1942 F
112M 112M
107 M 109
18M
1948 a
St Joe & Grand Island 1st 4s... 1947
St Jos Ry Lt Ht & Pr 1st 5s... 1937
St Lawr & Adir 1st g 5s
1996
2d gold 6s
1996
conv
8
Low
'
*121?*
s f 7s
1945 ivi s
Union Elec Lt & Pr (Mo) 5s___1957 a O
Un E L & P (111) 1st
J
g 5Ms A..1954 j
94 M
90
37 M
*1085*
S
m
Rut-Canadian 1st gu g 4s
Rutland RR 1st con 4 Ms
♦Prior lien 5s series B
;
76 M
*115?*
1962 ivi
♦§Riv & G Div 1st g 4s...
♦Certificates of deposit
35
~83M
81M
o
1977 m s
{{♦R I Ark & Louis lst4Ms~. 1934
99 m
Uijigawa Elec Power
107%
52%
90
.
♦Guar
47%
35%
103
50
*90~
d
233
103 M
*103
♦RIma Steel 1st s f 7s
1955 f
♦Rio Grande June 1st gu 5s.__. 1939 J
{♦Rio Grande West 1st gold 4s. 1939
77 m
10
102
78?*
Jan. 1
49
1952 j
Roch G & E 4 Ms series D
Gen mtge 5s series E
Toronto Ham & Buff 1st g 4s. .1946 j D
Trenton G & El 1st g 5s
1949 ivi s
28%
m N
warr
79%
106%
59
*109
Truax-Traer Coal conv 6Ms...1943 m n
♦Tyrol Hydro-Elec Pow 7 Ms.-1955 ivi N
1953 F
37
101?*
..1942 m s
26?*
26 M
No.
105?*
102
O
*25 %
1952 M N
High
102%
78%
D
D
.1950 a
34
♦Certificates of deposit.....
s
1953 j
imp 3?*s 1960 J
Tol St L & W 1st 4s
Tol W V & Ohio 4s ser C
27%
21%
31M'
Asked
102 J*
102%
J
25
Rlchm Term Ry 1st gu 5s
Guar
95 M 100M
109 M
Since :
&
Low
1937 J
Range
3,l„
cS
Friday's
Bid
High
*23 ys
8{♦Richfield Oil of Calif 6s„..1944
♦Con
Low
J
♦Direct mtge 6s.
♦Cons mtge 6s of 1928
♦Cons M 6s of 1930 with
con
No.
Range or
Sale
Price
El Pr 7s... 1950 m n
♦Rhine-Westphalia
♦1st
High
107%
112?*
*
Week's
Last
fe-S
Week Ended Aug. 7
107
107 M
s
Gen mtge 4 Ms series B
1961 f A
Purch money 1st M conv 5 Ms *54 m n
Revere Cop & Br 1 st mtge 4 % s 1956 j
J
Jan. 1
107?*
S
M N
m
bonds
N. Y. STOCK
EXCHANGE
Since
Friday's
Bid
Low
m
887
6
Friday
Range
Range or
Sale
Remington Rand deb 4Ms w w_1956
Rensselaer & Saratoga 6s gu.._1941
Republic Steel Corp 4 Ms ser A. 1950
Record—Concluded—Page
Week's
Friday
„
New York Curb
888
NOTICE—Cash and deferred delivery sales are
regular weekly range are shown in a footnote
In the
Aug. 8, 1936
Exchange—Weekly and Yearly Record
disregarded In the week's
range,
unless they are the only transactions of the week, and when
seHlng'outsldejoM^
In the week in which they occur. No account is taken of such sales in computing the range for the year.
furnish
following extensive list we
a
complete record of the transactions
the New York Curb Exchange for the
on
Saturday last (Aug. 1,1936) and [ending the present Friday (Aug. 7,1936).
It is compiled entirely
from the daily reports of the Curb Exchange itself, and is intended to include every security, whether stock or bond, in
which any dealings occurred during the week covered:
week beginning on
Sales
Friday
Last
Par
Week's Range
for
Sale
STOCKS
of Prices
Low
High
Price
Adams Millis
*
Class B
40
May
20
99
June
46%
113%
24%
4
100
15
Jan
24%
1,800
2%
Apr
10% June
200
Agfa Ansco Corp com...
Ainsworth Mfg Corp
59%
81%
80%
*
71
$6 preferred
Allegheny Steel 7 % pref 100
Allen Industries com
1
26 %
Alles & Fisher Inc com...*
X
100
37%
67%
Jan
62
Feb
84
July
58
Feb
76
Feb
June
110
July
19
60
4,800
%
17
Burco Inc
1,850
87
Jan
152
"119%
450
109
Jan
121%
.Feb
119
17%
17%
J,800
15
61
62
300
45
Jan
98
99%
600
87
Jan
2%
600
70%
30
2% Mar
June
70
9%
-.100
6% preferred^.
70
100
American Book Co
2%
2%
American Beverage com_.l
Jan
Apr
100
10c
com
1%
10c
Common class B
4%
Jan
9i6
Jan
1,300
1%
1%
27
$5.50 prior pref
Jan
86%
May
Mar
Cable Elec Prod vtc
Mar
Jan
7
7%
8,700
36%
8,600
Amer Cyanamid class A. 10
Class B
35
10
n-v
34%
122
7 % conv preferred... 100
Amer Equities Co com_._l
21%
Amer Fork & Hoe Co com*
Amer Foreign Pow warr...
*45%
Amer Gas & Elec com....*
*
4%
Jan
Am dep rets A ord
77%
Jan
9
Feb
Preferred
Canadian Marconi
Jan
36%
Mar
Jan
40%
Feb
*
250
9%
20
100
3%
26%
20
4%
Feb
200
16%
Jan
2% May
21
Feb
5
Mar
18%
26%
16%
18%
1,000
17%
Aug
19%
July
July
50
50
52%
100
10
10
10%
4,900
104
104%
225
1143% 1,15%
175
1,800
33%
100
33%
114%
July
Casco
Products
(AM) & Co
7%
12
Feb
Castle
Jan
39%
Jan
Catadn Corp of Amer
Jan
43%
Mar
29
250
Jan
30%
Apr
40
Celanese
Corp
10
1
39%
Feb
Cent Maine Pow
1% May
2%
Jan
CentP&L7% pref
Feb
Cent & South West Util.-l
Cent States Elec com..__l
1
1
27%
7,100
9i«
600
28%
18
Amer Pneumatic Service.*
27%
Amer Potash <fc Chemical.*
~27% "27%
""166
21%
Apr
2%
92%
14,700
2
Apr
91%
200
82
*
47%
4%
*
5
47%
49%
3,100
32
May
4%
4%
100
2%
*
2%
2
Wupperman..l
Apex Elec Mfg Co com...*
*28"
27
4 "v June
6,100
2%
..
1%
'
6
800
28
5%
Angostura
400
110% 110%
Appalachian El Pow pref. *
*"i%
1
1%
1%
Jan
63%
6% pref without
Feb
31
Jan
110%
%
Jan
4
3%
3%
Jan
7%
Mar
Jan
7%
Mar
7%
Jan
9%
Mar
6%
6
6
5%
6%
8,500
9
9%
6,600
83
'1% "6% "io" ""560
June
9%
Jan
Feb
96
Apr
warr
12%
13
1,800
10%
Jan
13
1%
Class A
12
,.*
IX
2
2,600
1
Jan
2%
Feb
8,100
1
Jan
3%
Feb
12%
1%
1%
Common
600
5%
Jan
14%
Feb
%
14,900
'32
Jan
% June
532
%
July
%
....
Assoc Laundries of Amer. *
*
48
Associates Investment Co *
45%
2%
*
Atlanta Gas Light pref. 100
Atlantic Coast Fisheries..*
*16%
*
*14%
$3 preference A
*
54%
"9% "l"6%
31%
13%
26%
200
1%
Jan
Jan
;*
1
"T%
Automatic Products
5
9%
1%
2,100
9%
9%
900
6,700
*
90
July
4%
"~2%
12%
Jan
70
Jan
%
51
2%
2%
2%
2%
%
%
13
36,400
21,500
Black & Decker Mfg Co..*
23%
23
Bliss
19
18%
3%
com
*
Blue Ridge Corp com
$3 opt conv pref..
1
*
45
Blumentbal (S) & Co
*
22%
3%
37%
24%
19%
12
3%
44% a:45%
19
22%
6%
12
Apr
52%
43
55
4%
"3%
"3% "3%
14%
*
~20%
15
25
26%
11%
"26%
151
123
May
Jan
1%
July
2%
%
July
%
Aug
19%
Mar
1,300
30
Feb
2,800
13%
Jan
27
6,600
2%
Apr
43% June
12
18%
20%
2%
Jan
July
12
34
May
55
Aug
200
%
Jan
3%
July
12%
Apr
1%
6%
18
37
37
9%
Brillo Mfg Co com
29
*
British Amer Oil coup....*
Registered
37
9%
29
Feb
Feb
29%
15%
Feb
13%
20%
Jan
Mar
97
1
Aug
44
Feb
17
May
*4% May
30%
Feb
6%
Feb
Jan
22
May
124%
Mar
38
Jan
July
700
24
Jan
49%
34%
575
%
4%
61%
34%
%
Jan
59
Mar
1,300
47,900
3
Jan
Jan
Apr
1% May
Feb
7%
June
Jan
41%
3% May
66
600
190
40
June
63
June
100
42%
Jan
70
July
100
43
May
2,800
11
3,700
•
6
Feb
6%
65%
July
Jan
19%
Apr
Jan
1%
Feb
May
52%
Jan
9%
June
16%
Feb
Feb
1,900
600
10
%
2",700
%
48%
2,300
42
1,950
9,700
93
Jan
1% May
May
7
July
Feb
6
3%
8%
Jan
Apr
12
Mar
July
4
Mar
May
700
3
3%
31
2
""%
716
1%
73
650
100
116
14%
%
1,000
55,200
14%
600
93%
90
93%
2,700
57
57%
50
7%
5,700
100
*
...»
5
7%
97
5%
5,100
Mar
Jan
117
July
%
Jan
1%
%
Apr
1 % June
13
Jan
Feb
1% May
34%
3%
1 %
Aug
Mar
Jan
..100
Am dep rets ord reg.
..
2%
8%
Crane Co
Feb
10%
July
29%
Mar
Jan
27%
49
Apr
July
3% June
14%
84
Jan
Jan
100
%
200
13
14%
600
47%
46
47%
700
8
4%
7%
4%
5%
8
4%
6
Mar
116
7%
88
98%
Aug
57%
May
%
Apr
93%
July
2
Jan
3%
Au g
Jan
101% June
2
Feb
Jan
19
Mar
Jan
49%
Mar
% May
9%
34
500
6%
Jan
9
Apr
2,900
4%
July
8
Mar
8
Feb
700
4% June
73%
100
Jan
77%
2%
3%
25,800
1%
Jan
4%
16%
2,500
6%
Jan
17
11% May
% June
24
Apr
120%
Jan
19%
Jan
15
13
Aug
Mar
105
73%
15%
Jan
23%
6%
3% May
53%
300
Cramp Ship & Engine.. 100
53%
Feb
Jan
£1
Feb
Jan
16
65
Feb
Feb
Feb
Courtauld's Ltd
Aug
Mar
Apr
Mar
'i« July
11%
Jan
90
2%
98%
3%
Feb
Apr
Jan
5%
45
Jan
250
97
97
6
4%
7%
26%
16%
Jan
July
Mar
113
*
com
Preferred
19%
13
com
Jan
29
%
Jan
116%
97
5,700
34%
2%
1%
34%
6,700
Jan
100
%
36
700
110
20%
4%
1%
20%
893
55%
Jan
105
4
$6 preferred A
com
Preferred
25
35%
100
133%
22%
Creole Petroleum..
5
Crocker Wheeler Elec....*
.Croft Brewing Co
1
Crowley MilnerA Co
26% June
1
For footnotes see page
Jan
3,450
4%
Cosden Oil
Mar
100
100
""""75
19%
Cord Corp
Corroon & Reynolds—
Common
Feb
20% May
9%
Jan
_
3
*
Jan
31%
46% May
__
$3 preferred A...
Copper Range Co
£ug
330
26,100
1,200
1
Cooper Bessemer
Mar
25%
97
2%
63
July
900
Feb
3%
31%
Feb
Jan
"160
106
Consol Royalty Oil
10
Cont G & E 7 % prior pf 100
Continental Oil of Mex.._l
Feb
5
... _
8% preferred
Feb
750
100
*
4%
_
5% preferred A..... 100
Consol Min & Smelt
5
Consol Retail Stores
5
Aug
June
500
3%
Jan
Consol Copper Mines....5
Consol G E L P Bait com. *
Jan
14%
_
Secur $3 pref...
Consolidated Aircraft
June
Jan
40
7,900
Jan
Connecticut Gas & Coke—
Jan
July
""360
78% July
"7"
%
Jan
4%
Botany Consol Mills com.*
25
Feb
Jans
July
Apr
49
110%., 113%
Compo Shoe Machinery..1
Jan
14%
112
Distrib.l
Como Mines.
Jan
1,000
4,600
42%
"2% "2%
Warrants
Feb
35%
18%
25
81
7
3%
Feb
2%
70
13%
37%
*
Apr
1%
*
Community P & L $0 pref *
Community Water Serv..*
Mar
103
Feb
July
3%
com
Apr
July
11
100
Columbia Pictures.
Jan
800
.
17%
Commonwealth & Southern
55%
175
5% preferred.. 100
Mar
11
90
300
9%
"7"
Commonwealth Edison 100
8%
July
2%
102
Apr
3%
9%
*2%
Columbia Oil & Gas new__l
July
July
8
2%
Jan
July
14%
41
..*
1% June
1
Convertible pref
Berkey & Gay Furniture. 1
Purchase warrants
Bridgeport Machine
Conv
Feb
11%
2%
10
55
""250
16%
Jan
40
j
Jan
May
1%
*
Cohn & Rosenberger
Colon Oil Corp com
Jan
16%
18%
49%
29%
63
16%
180
%
Jan
116
July
100
2,300
600
%
55
Jan
121
*
15
%
600
61
116%
66%
63
16%
46%
142
Bearing...
63
5%
%
100
100
66%
66
48%
8%
%
Mar
99% May
Feb
107%
61
58
*
Bell Tel of Pa 6 % % pf.100
Benson & Hedges com
*
Bohack (H C) Co com
60
Colt's Patent Fire Arms.25
46%
61
July
16%
Columbia Gas & Elec—
Apr
May
%
warr
4%
58
Jan
88
46
47%
%
j,_*
Commonwealths
10
60%
26%
Feb
8%
Mach.*
Axton-Fisher Tobacco—
%
4%
48%
Feb
44%
Automatic-Voting
49
,
16%
June
7% May
400
56%
9%
12,500
5
120
120
49%
29%
11% May
400
~26~~
4%
38%
28
23,300
"~225
Cockshutt Plow Co com..*
Feb
June
Apr
July
40
16% May
Club Alum Utensil Co
July
3%
94
"25"
4%
Cleveland Tractor "com
*
Clinchfield Coal Corp.. 100
Feb
Feb
20
51
50
1%
3%
•
Apr
8% June
"l",666
31%
14%
54%
3%
10%
53
3%
Atlas Plywood Corp
Austin Silver Mines
1
2%
10%
Atlas Corp common
Baumann (L) &Co7 % pfdlOO
1,100
48
92
Atlantic Coast Line Co..50
*
2%
*54%
6
Cleve Elec Ilium com
Feb
3i6 May
2%
24%
52%
City Auto Stamping
*
Claude Neon Lights lnc..l
July
2%
2%
24%
55%
2%
2%
*
Preferred B
12%
£1
,2%
Preferred BB.;
*
Cities Serv P & L $7
pref. *
$6 preferred
*
Industries
"76%
*76"
100
500
17
16%
*76%
100
Preferred.
Assoc Gas <fc Elec—
90
68
16%
Childs Co pref.
100
Chief Consol Mining Co..l
Cities Service com
...»
Jan
12%
102
Aug
July
87%
*
*
Centrifugal Pipe
..*
Charls Corporation
10
Chesebrough Mfg
25
Chicago, Flexible Shaft Co 5
Chicago Rivet & Mach...*
July
Jan
Apr
31
*
100
Conv preferred
100
Conv pref op ser '29-.100
July
Jan
86
9%
7% preferred
Feb
4%
Jan
2%
7% June
10
100
15
7% pf 100
Jan
104%
9
6%
Jan
Mar
Celluloid Corp com
$7 div preferred
Feb
20
*
Arkansas P & L $7 pref...*
Art Metal Works com
5
*
4%
13
4%
1,000
6,100
10
Arkansas Nat Gas com...*
29
Jan
2%
Corp com *
100
of America
7% l£t partic pref... 100
7 % prior preferred
100
Jan
3%
26%
*
Jan
1
*
Aug
Jan
Feb
Mar
17%
Jan
1st preferred
Cent Hud G&Evtc
Class A
1%
22
17%
108
Feb
7% preferred
12,000
15
Apr
July
Brill Corp class B
Class A
2%
1%
300
Feb
2%
7%
1%
Preferred
12%
July
July
Aug
11%
1%
7,900
30%
Brazilian Tr Lt & Pow
July
5%
15%
July
Jan
Bower Roller
6%
200
3,200
75
Jan
Borne-Scrymser Co
600
1%
15%
100
14
Bourjois Inc
Mar
20% July
143%
46%
Feb
5
375
7% 1st preferred
32
5%
..*
com
Carolina P & L $7 pref...*
$6 preferred..
*
Carrier Corporation .....*
24%
29%
(EW) &Co
Mar
1%
15
3%
29%
pref
Jan
14%
14%
Jan
3% May
33% Apr
9,400
8%
32
Amer Maracaibo Co..... 1
conv
24%
25
Feb
19
100
*
Jan
$2.50
200
7
3%
1,025
Class B
30%
Bickfords Inc
Jan
Carnation Co
Feb
Bell Tel of Canada
Feb
Feb
25%
com
Jan
9r6
5%
May
July
300
Bellanca Aircraft
1%
July
May
■„
X
5
200
126%
Jan
29%
30
Baldwin Locomotive
1",
300
516
5
6%
20
*
28%
Babcock & Wilcox Co
Feb
Jan
Convertible class A
29%
Class A common
Mar
3
Aug
25
100
Warrants
Mar
2%
122
July
Associated Rayon com
10%
Jan
19%
7
2%
25c
Mar
Vtc common.
Jan
Mar
Carman & Co—
25%
Option warrants
Apr
30
15
27%
$5 preferred-
%
19%
"1%
.1
Jan
Elec
1,300
Feb
Jan
28%
*
^
Capital City Products
Carib Syndicate
Feb
9
non-voting
Jan
Amer deposit rets
4,800
%
Apr
3%
6%
Canadian Indus Alcohol A*
Jan
17%
Associated
800
2%
10%
Mar
85
40
5%
Feb
48%
19%
Common class A..
Jan
Jan
Jan
50
25% July
107% June
68
July
19%
25
Mar
1,200
Preferred
33%
%
2%
7%
X
50
38
Jan
Aug
12% July
30
Calamba Sugar Estate. .20
Canadian Car & Fdy Ltd—
Feb
2
2,500
Arcturus Radio Tube
Jan
Jan
400
25%
Preferred
51%
%
24%
Amer Thread Co pref
Anchor Post Fence
Apr
48
5
24%
1st preferred
Jan
23%
100
sh.£l
23%
Am Superpower
Aug
600
10
Am dep rets B ord shs. £1
Amer dep rets pref shs £1
38
.50
Amer Meter Co
8
82%
2%
24%
Amer Mfg Co com
Mar
June
103
81%
10%
23%
6% preferred
Mar
1S16
16%
16
350
38
25
com
10%
"
1%
82%
Amer Laundry Mack._.20
Amer L & Tr
Jan
Aug
0%
Feb
1
com
Mar
115
100
33%
....1
$2.50 preferred
Amer Hard Rubber
4%
4%
21%
22
3%
3%
43%
45%
111% 112%
~~9~X
American General Corp 10c
$2 preferred
25
Mar
31
116
Amer Dist Tel N J com... *
Preferred
122
34%
Jan
Cables & Wireless Ltd—
101
36%
91%
43
Jan
Aug
Apr
20
i',666
%
29%
300
Apr
15%
25%
*
31%
44%
7%
1
Class B
44
3%
29%
105%
67%
67%
*67%
Butler Brothers
Mar
B
44
400
105
Burma Corp Am dep rcts..
10
18
July
5% May
*
8%
25%
25%
*
13%
75
Am Cities Pow & Lt—
Class A.............25
600
*
com
$3 convertible pref
Warrants
Capital—
$3 preferred
Jan
7% May
39%
Bunker Hill & Sullivan.. 10
Feb
119%
15
16
8
Buff
Mar
500
8%
11
Bruck Silk Mills Ltd.....*
Feb
130% 134%
Feb
Mar
9
25%
134
700
x8
%
Jan
1,800
25
Co.
21
23%
22
32%
30%
27%
June
..*
Aluminum Ind com
Rights
(E L)
Bruce
Feb
June
2%
1,000
20
20
*
4%
100
Jan
2% May
15
Class A preferred
Apr
1
High
Mar
28
11
Brown Forman Distillery. 1
Aug
2%
Jan
28
100
Jan
2%
Aluminum Ltd com
Class A
26%
Apr
Low
Shares
28%
Buckeye Pipe Line..
50
Niag & East Pr pref25
$5 1st preferred
*
Bulova Watch $3% pref..*
2%
Aluminum Goods Mfg..
American
Apr
High
reg..£l
Brown Co 6% pref
Brown Fence <fc Wire B
Mar
2%
.....
15
100
Feb
Feb
1%
Low
Am dep rets ord reg--10s
British Col Pow cl A
July
140
$3 conv pref
6% preference
Mar
35
Price
dep rets ord bearer £1
Am dep rets ord
Mar
June
Allied Internatl Invest...*
Aluminum Co common...*
15%
62%
4%
200
""600
23 %
Week
British Celanese Ltd—
Mar
200
*23% ~20%
....
Alliance Investment com.*
Allied Products cl A com 25
4%
114
eo%
Ala Power $7
pref
Aug
83%
71%
%
Warrants..
Alabama Gt Southern... 50
Am
Mar
%
60%
27
27
for
of Prices
British Amer Tobacco-
Jan
44% May
2% June
27
Apr
500
3%
Week's Range
Sale
Par
27
3%
*
Conv preferred
56
55
10
Air Investors com
Last
High
50
104%
24%
4%
Low
4%
104
7% lst'pf 100
cl A....*
Aero Supply Mfg
Range Since Jan. 1 1936
STOCKS
{Continued)
Range Since Jan. 1 1936
Shares
43%
42%
Acme Wire v t c com.-.20
Sales
Friday
Week
Crown Cent Petroleum
12
34%
36%
132% 133%
21
23%
11%
12
10,100
11,200
1,400
1
Apr
Feb
Aug
134
34%
16
July
»16
"il
4,500
Feb
Feb
*"l% "T% "1%
"'3",900
»16 July
1%
Feb
5
%
*
...
9
Jan
2%
36%
May
7%
Jan
2%
July
Jan
1 %
Volume
New York Curb
143
Last
STOCKS
Sale
(Continued)
Par
Crown Cork Internal A__*
Crown Drug Co com
25c
Week's Range
15%
4%
Low
4%
25
Cuneo Press
com
15%
4%
24%
15%
24
vtc__*
6
Preferred
Cuban Tobacco
High
11%
%
200
,b16
10%
%
10%
10%
14%
Class A_____
35
De Havlll Aircraft Ltd—
13,500
13%
14%
26%
26
Dennison Mfg 7% pref.100
Detroit Gray Iron Fdy___5
Derby Oil & Ref Corp com*
67%
13i«
Duke Power Co
Durham
Option
600
500
4
35
*20%
37%
*18% "20%
11
11
26%
26%
33
32%
26%
34%
~27"
200
23%
Apr
Jan
27
3%
74%
%
5
5%
10%
65%
400
25
Jan
Jan
June
39
105%
July
110
Feb
%
Aug
6
Mar
Feb
80
Jan
25
25
66
100
5
7%
1,100
Mar
Amer deposits
rcts___£l
Imperial Oil (Can)
Jan
11%
59%
Jan
85
Jan
83
Mar
July
3
6,700
2%
4
1% May
44%
900
23
45
200
13
13%
3,600
16%
150
24%
Jan
6%
Jan
15% June
60
200
36
Jan
3%
23%
75%
3%
25%
Apr
87
11%
9%
9%
63
7%
2,200
4,600
2%
15%
64%
74%
9%
6%
150
18%
76%
11%
64
3,300
71,700
1,400
Jan
64
7%
6
400
100
2
7%
96%
96%
Jan
45
Aug
July
14
June
23%
Mar
63
July
Mar
July
4%
27
Apr
88
Jan
88%
July
July
Apr
12
Mar
Apr
Jan
Jan
9%
75%
July
July
8%
Mar
2,500
5
May
125
88
May
Jan
*17% "l8~" """IOO
Feb
3%
Feb
10
96%
42%
44%
38
38%
cl A.
_
coup..*
Registered...
98
125
81
Apr
95
Aug
76
Jan
86
July
"*6% ""6%
""500
%
Jan
1%
Mar
5%
Jan
8%
Apr
7%
Jan
8%
72%
Feb
Mar
68
3%
15%
1%
3%
14%
16%
11%
11
300
1%
4%
11%
1,300
1,900
1,100
*
1%
1%
100
1
3%
10%
10%
1%
42
Apr
Apr
Jan
Jan
July
July
2%
Jan
6%
Mar
16%
Aug
Jan
Feb
17%
3
14%
15%
14%
9,700
June
55
Jan
21%
111%
26%
66
Britain and Ireland..£1
Indiana Pipe Line
.10
Inuiana Service
6% pref 100
7% preferred
100
Ind'po-is P
Feb
35
July
13%
Mar
75
29%
Apr
34%
34%
109% 111%
25%
26%
64
66
30
105
2,000
3,400
57
%
11%
100
% May
650
10% Aug
13% June
Jan
22%
Jan
June
Non-voting
class A
17%
Jan
July
July
22%
39%
111%
28%
76%
Jan
July
Aug
Feb
Mar
V t c common
_
Jan
38% Aug
63% July
N Amer. 10
July
66
July
65%
70%
500
43 %
47
Jan
66%
Jan
72
Jan
27
"20%
"l,200
15
Jan
21%
Apr
10,000
1%
38%
July
3%
Feb
prior preferred.
New warrants
Feb
International Vitamin
%
Feb
1%
Feb
*
28%
*
35%
Jan
21
Feb
Iron
14%
Afrr
23%
10%
Jan
9%
16%
July
13%
""28% "28%
35%
""166
23% June
1,000
36
6%
58
58
34%
48
47%
7%
20%
7%
19%
24%
pref"""*
Am
dep rets ord reg__£l
Ford Motor of Can cl A.
Class B
28%
Jan
May
Feb
17
Jan
31%
Jan
40%
Mar
21%
1%
July
2%
100
39%
200
Mar
40%
July
7%
500
Jan
60
10
Feb
9%
37%
Feb
37%
38
120
14
June
.mmmm
Cap Copper
18
18
2%
3%
3%
Jau
Jan
6%
6%
1%
200
1%
Jan
3%
May
20%
Jan
"900
69
Apr
84
Feb
34
Italian
100
4%
100
300
7%
20%
4,200
7% May
9%
Feb
Feb
50
19
July
22% June
28%
24%
32
Feb
Feb
60
Feb
7,800
.
2%
200
2%
July
Jan
4%
30
2%
Jan
4%
Feb
200
18%
12%
Jan
21%
July
Jan
18%
Jan
21
17%
17%
1,000
16
Jan
19
Mar
V t c preferred A
*
Kansas G & E
7% pref. 100
Ken-Rad Tube & Lamp A*
Rubber
.10
6%
preferred.......IOO
__1
_
■
$6 conv pref B
V
'.
*""%
$6 conv pref class B.^_.
Warrants
Gen Outdoor Adv 6% pflOO
47
Gen Pub Serv $6 pref
*
Gen Rayon Co A stock...
83
General Telephone com.20
$3 convertible pref
*
16%
13
""is
1
4,700
600
47
44
%
532
13
Jan
i6
40
3,400
Apr
116
71
1%
67
Jan
1
Jan
1,200
16%
18%
51
200
General Tire & Rubber..25
70%
72
300
6■% preferred A.....100
Georgia Power $6 pref.. ""
95%
97
89
89%
20
150
(
"5% "5%
"""ioo
42%
15
June
60
100
51
Gilbert (A C) com..
Preferred
Jan
1%
83
80
May
43
110
14%
15
1,200
49% May
2%
Feb
49
May
%
Feb
85% July
83
2%
Aug
Jan
19%
"26"
"""566
%
%
1,000
3%
3%
100
17%
17%
200
Consol Mines 110
Class
A...
85
93
July
45
Feb
18%
Feb
8%
preferred
Jan
Feb
13%
Apr
Jan
39%
Mar
8
Jan
20
July
%
2%
Jan
Jan
4
4
*
"20"
13
18%
20%
34,100
Class B
1
*
Common
7%
Feb
25%
Feb
16% May
21%
Jan
*
Preferred class B
2%
July
10
Jan
17
July
1,050
70%
89
93%
92%
97%
100% 105
4
4%
41
43%
4,300
%
300
preferred
..100
100
Loudon Packing
*
Louisiana Land & Explor.l
Louisiana L P & L Co—
$6
June
Apr
Lynch Corp common
5
*
preferred..
6%% pref w w
...100
% May
Jan
76
Jan
86
May
400
700
13%
"300
2%
100
5%
4%
12,300
4%
4%
5%
5
1%
30
Jan
Jan
'16
500
%
1%
Mar
Jan
Jan
10
1%
July
Jan
Jan
1 %
%
Feb
Feb
Feb
17
Aug
93%
Aug
Aug
Aug
97%
105
4%
44
1%
6%
July
Apr
13%
3%
Mar
Mar
Apr
Aug
Mar
113
July
95
July
74
Jan
74
Jan
4
July
Jan
95
916
16
20
20
20
9%
9%
9%
3,100
100
300
2%
716 May
18%
Jan
8
Jan
3%
Mar
96%
5% June
5%
Jan
% May
24
11%
6
Mar
Apr
Mar
23%
104% 105%
23
23%
"57% "58%
5%
5%'
6
375
400
~2,166
2,300
Apr
107Feb
14
Jan
x25
74%
105
Jan
78
Mar
51
Jan
60
May
5% June
70
Mar
12 %
2
■
12%
110
Mar
July
15%
Jan
4%
Jan
2
100
13
400
11%
July
3,700
6%
Jan
8,700
%
Jan
2
Fel>
50
107%
Feb
111
Apr
15
Mar
9%
%
110
1% June
25
11%
Jan
Jan
7%
Mar
5%
Apr
18%
Jan
18%
9%
21%
18%
10%
25
25
17%
Apr
Aug
Aug
8,300
6% May
21%
18%
10%
13%
13%
7,000
9%
Jan
14%
Mar'
4%
4%
93%
3,200
3%
Apr
91
325
72%
Jan
96
July
81
81%
175
64
Jan
84
July
4%
21%
4%
93%
81%
Jan
90
1,600
1,300
13%
4%
9%
13%
.
8%
June
14%
4%
14%
6%
*11%
10%
41%
41%
6%
100
3
6%
9%
1%
5%
56
Jan
July
5%
Jan
Feb
8%
Feb
15% May
12
9,400
1%
41%
5%
1,000
1%
July
2%
Mar
100
34%
Jan
55%
Feb
Jan
94
Lucky Tiger Comb G M.10
Jan
Jan
110
*
4
16
32%
Jan
370
Long Island Ltg—
Feb
300
Aug
2%
*
Lockheed Air Corp
Lone Star Gas Cprp
4%
1,000
Apr
15%
12%
13%
Loblaw Groceterias cl A..*
Mangel Stores Corp
3%
13
Grand Rapids Varnish
%
1,000
Feb
111%
*
com
5is
Mfg Co—
V t c agreement extended
1,500
17
1%
%
4%
...»
Nav
18% June
com.
Mar
Lit Brothers
Jan
40
73
Feb
26%
1%
%
Jan
5
68%
31%
15
Feb
102
90%
23% May
1,000
1,000
%
Apr
Apr
Apr
Apr
79%
'"150
22
1%
%
21%
1
Leonard Oil
68% June
Mar
May
8%
Lehigh Coal
Mar
Apr
%
%
July
52%
Feb
9%
32
33%
9%
19%
Jan
June
Feb
June
%
May
5
Jan
6
2%
88
Jan
% May
Develop
20
Lerner Stores 6 % % pref 100
Lion Oil Development
*
12%
Jan
June
3i6
20
1
Lefcourt Realty com
Preferred
47
24
Godchaux Sugars class A.
Ciaaa B
Lake Shore Mines Ltd
Lakey Foundry <fc Mach..l
Lane Bryant 7% pref.. 100
Langendorf United Bak—
Feb
'"27% ~27%
22
Lackawanna RR of NJ 101
>
Jan
14%
500
Knott Corp commonl
1
Koppers Gas & Coke Co—
Kreuger Brewing
®ie
2%
Jan
'"ioo
100
Jan
July
270
%
Kingsbury Breweries
1
Kings County Lighting—
7% preferred B
100
6% preferred D
100
*
6,500
*16
6%
64
Apr
Feb
24%
%
23%
91%
Kleinert
Jan
Feb
27 %
5%% preferred
100
6% preferred....... 100
7% preferred
100
Kirkland Lake G M Ltd.l
600
Aug
Aug
3% May
200
%
Jan
1,150
>
15%
(Emil)___
32%
33%
Fe b
32
%
Kingston Products......1
Kirby Petroleum
1
2%
*16
6%
16%
Feb
18%
2%
1%
1%
%
4%
Feb
Jan
1,200
20,500
33%
24%
43%
Apr
7%
3%
33%
32
2.60
9
Feb
3%
Jacobs (FL) Co...
1
Jersey Central Pow & Lt—
_
Jan
Jan
14%
5%
39%
38%
32%
1%
Naumburg
14%
7%
7
10
.*
Superpower A
Warrants.....
Jan
Apr
Feb
1,000
"2", 100
88
Jonas &
20%
17%
1
Jan
Aug
3 % June
11%
"ii%
11
"16"
1%
Jones & Laughlin Steel". 100
Kansas City Pub Service—
Common vtc
*
45
Jan
3%
4
Jan
70
Jan
Apr
%
Feb
'
893
100
64
10
com
•Irving Air Chute
Klein
Grand National Films Inc "
3%
5%
89
300
Aug
Aug
July
1%
117
3,900
99%
28% July
40
3,200
Jan
9
Jan
7
60%
35%
48%
38
"73% ~75~"
75
July
Apr
4%
Apr
46
May
32% July
40% May
5%
1%
%
112
37
Feb
Feb
3%
74%
30
Glen Alden Coal
7
35%
35%
20
92%
120
Fort Worth Stk Yds.Co..
Am dep rets ord
reg__£l
Fireproofing com
'
39%
7%
35%
"2,200
"l6
Froedtert Grain & Malt—
Gen
M^
77
Feb
Ford Motor of France—-
15
14%
115
114
6%
Jan
May
Jan
Feb
June
24%
24%
Iron Fireman
Mfg v t C..10
1,500
10
Jan
>
T.700
Jan
Jan
Apr
...
"17% "Io"
34%
*
..IHIIIIl
Jan
Jan
916
76%
l
Class B
$7
%
6% June
4%
Jan
July
*
»i6
19
114
Class A
700
1,100
3,400
55%
53%
*
.200
12
.*
Internatl Safety Razor B
Internat'I Utility—
%
5
17%
Jan
Feb
13%
1
Interstate Hos Mills
*
Interstate Power $7 pref.*
Investors Royalty
1
16
38%
52%
20%
*
2%
•
50
100
4%
65
44
July
1,500
4%
Jan
July
56%
5,400
33%
Jan
21
Jan
20%
3%
44
1%
Jan
36%
20%
13%
33%
43
"l9"
July
20%
33%
War ran t«
25
2%
40%
20%
13%
International Petroleum!!*
Registered
International Products!!!*
6% preferred
100
200
20%
9%
7%
Feb
Jan
May
13%
11%
61
July
July
Feb
20%
Corp."Hi
63
50
Apr
2,950
International Cigar Mach *
Internal Holding & Inv__*
64%
/0%
100
54
54
7% preferred...IIIIlOO
Insurance Co of
59%
Feb
2%
32
Feb
30
9%
54%
1
Apr
19%
Jan
200
*
Internal Mining
Jan
"55"
1,300
2%
40%
Finance^"
Jan
15
4%
40%
56
54
39%
*
Class B'
Industrial
Jan
6
3%
4%
6%%pfl00
Indian Ter ilium Oil—
Feb
Feb
%
10%
& l
98
9%
10%
.
61
9%
16%
Jan
95
*
Imperial Tob of CanadalH
Imperial Tobacco of Great
61
8%
15%
For footnotes see page
72
94%
Industries
61
HIi
Candy. I Hi
Gray Telep Pay Station..
200
2,200
*
29%
30%
150
ioo
Chem
Internal Hydro-Elec—
Pref $3.50 series......50
IntI Metal Indus A_
*
42
38%
preferred
Illuminating Shares
Jan
41 %
84%
"9%
6%
Jan
*
Imperial
60
3%
24%
75%
Illinois P & L $6
pref....
Jan
16%
13%
Hygrade Food Prod
5
Hygrade Sylvania
Corp..*
Mar
Ford Motor Co Ltd—
$3
1
89
unstamped.. 100
Hydro Electric Securities *
1%
45
__
Gorham
1
T° pre'
15%
550
.6%
Gorham Inc class A
10%
3%
85
j
II00
10%
42
FIdelio Brewery
i
Fire Association
(Phllajlio
First National Stores—
Gold field
6% July
1% June
July
Feb
Mar
Feb
1
*
Jan
1,600
7%
6%
$5 preferred
500
Jan
Jan
36%
88
*
Hardart......
July
74
l
Gen Investment com.
2%
128
11
Jqly
%
700
64
Leadllll*
Electifc—
2%
130%
Apr
11
Common«...
7% pref stamped
rr
1,500
1,600
12
Fiat Amer dep rets
Gen Gas &
2,200
7%
7%
Mar
Feb
24%
6% June
.
Mar
73%
23%
"2%
7% preferred
..100
Ex-cell-o Air & Tool.....3
Conv preferred.
General Alloys Co...
Gen Electric Co Ltd—
7%
2%
110%
9% Mar
14% May
„7% Preferred..IIIIIloo
Jan
124%
10
27%
110
3
%
Amepican dep rets
160
""166
*
Hud Bay Min &
Smelt
*
Humble Oil & Ref.......*
(Henry)
121%
"33% "33%
124
33%
c"l All*
July
Fcd
High
com
Horn &
7%
Low
& Co
Aug
July
Aug
'16
Corp
Holt
35%
15%
Evans Wallower
$6 preferred.;
Flintkote Co common
Holophane Co
5
26%
8
Shares
_*
Mar
*94%
European Electric Corp—
Option warrants
100
Hires (C E) Co cl A
Zollinger Consol G M
27% May
1,000
60
6%
100
7% 1st preferred
_
Jap
73
Emsco Derrick &
Equip..5
Equity Corp com_____i0c
Eureka Pipe Line..... 50
Florida P & L $7
June
Hazeltine Corp.
*
Hecla Mining C0IIIIIII25
Helena Rubenstein
*
Heyden Chemical
1.10
12%
61
64
8% preferred
100
Empire Power Part Stk__*
Fisk Rubber
25
37%
Hartford Electric
Light.25
Hartman Tobacco Co
*
Harvard Brewing Co
1
Jan
100
%
6%
11%
100
com
Mar
5%
11
1,200
74%
ioo
Corp
19
16
11C
"~3%
com.l
Fodders Mfg Co com.
Ferro Enamel
""960
May
73
15%
71
i
Metallurgical
1,500
July
Apr
108% 112
16
112
Elgin Nat Watch Co
15
Empire District El 6%. 100
Empire Gas & Fuel Co—
Fansteel
35
High
Huylers of Delaware Inc—
$6 conv pref w w_.HI *
Elec Shovel Coal $4
prefII*
Fanny Farmer
18% July
21% June
10%
Apr
Aug
Aug
Aug
8
July
4% June
7%
Fairchild Aviation...
Falstaff Brewing
19%
8%
Range Since Jan. 1 1936
for
Week
of Prices
8 sh
Hormel (Geo A) & Co
*
7 % preferred
300
200
11
warrants..
6% preferred
6%% preferred
Aug
Apr
July
8%
Shareholding—"""
Electrographie Corp
Mar
19%
■15
i
Common
70
18
19%
*
Elec P & L 2d pref A
Handley Page Ltd—
Am dep rets
pref
8%
37
H*
I "l
Electric
Mar
19%
*
.
19%
17%
Edison Bros Stores com
*
Eisler Electric
Corp
II
Elec Bond & Share
com..5
com
July
4%
Economy Grocery Stores.*
Elec Power Assoc
Class A
27%
72%
$6 preferred series B___*
$7 preferred series A
*
preferred
Apr
16% May
50
Feb
30
Mar
Jan
*
$6
1
14%
8%
preferred
100
Eastern Malleable Iron .25
Eastern States
Corp.....*
preferred
Guardian Investors
22%
200
Week's Range
Low
119
*
10% June
1,600
Apr
Price
100
Apr
25% Mar
16% June
%, prior preferred! 100
$5
stock
16%
,1%
6%
Easy Washing Mach "B"
com
preferred
Jan
1
100
io
Common..
7% 1st
Gulf Oil
Corp of Penna.25
Gulf States Util
$6 pref..*
$5.50 preferred
._..*
Hall Lamp Co..
*
12
1,300
Hosiery class B__*
Duval Texas Suplhur
*
Eagle Pieher Lead
..10
East Gas & Fuel Assoc—
4%
Apr
Apr
1%
_
Gt Northern Paper.
25
Greenfield Tap & Die
*
Grocery Sfs Prod com..25c
Mar
72%
£1
100
109
July
July
Jan
Doehler Die Casting.....*
Dominion Tar&Chemcom *
Dominion Steel <fc Coal B 25
Corp.l
43
8 %
5
CoIIIIIIZIo
Feb
19%
2
7% preferred..
Dubtlier Condenser
Feb
Non-vot
Feb
12,500
15%
Sales
Great Atl & Pac Tea—
Feb
11%
"17 %
Detroit Steel Products...*
Diamond Shoe Corp com.*
Driver Harris
5%
25
Jan
72%
Detroit Gasket & Mfg coml
6% pref ww
20
Detroit Paper Prod
1
Douglas (W L) Shoe Co—
7% preferred
100
Dow Chemical
*
Draper Corp..
" ~
*
July
67%
19%
4%
19%
4%
*
Amer deposit rets
16%
Sale
xO
400
Am Dep Rec ord
Reg.£l
Distilled Liquors Corp
Distillers Co Ltd—
Last
Par
■
12
Dayton Rubber Mfg com.*
Dictograph Products
Jan
l-v:
Mar
4%
37%
Davenport Hosiery Mills.5
Preferred......
High
4
July
22% June
150
100
106
6%% preferred
100
Cusi Mexican Mining. _50c
Darby Petroleum com
*
STOCKS
(Continued)
Low
1,600
4,100
43
42%
*
com
Range Since Jan. 1 1936
for
Shares
6
889
2
Friday
Week
of Prices
Price
Exchange—Continued—Page
Sales
Friday
56
600
110
4
42%
Jan
May
Apr
Apr
95
9%
66
Jan
Feb
New York Curb Exchange—Continued—Page 3
890
Last
Week's Range
for
Sale
of Prices
Low
High
Par
Price
19 34
20
Mapes Consol Mfg
Marconi Internat Marine—
Masonlte Corp
Shares
8%
200
"sh ""ok
4,200
934
*
450
96
OVA
95
common..*
1
Mass Util Assoc v t c
2 34
fx
2%
300
M&ssey-Harris common.
Mayflower Associates
*
May. Hosiery Mills—
$4 pref w w
—
McCord Rad & Mfg B—
4%
4%
434
1.900
20
87
90
102 M
1,100
7% July
Jan
Jan
934
2234
954
10054
pref-.---*
Overseas Securities
*
Pacific Eastern Corp
1
Pacific G & E 6% 1st pf-25
Jan
4
Feb
534% 1st
734
Jan
Apr
Apr
July
pref—100
Pacific Public Service..--*
$1.30 1st preferred.—-*
Pacific Tin spec stock.-—*
Page-Hersey Tubes Ltd--*
Mar
Pan Amer
62%
1%
434 July
June
A—-1
Feb
8%
Jan
1334
9054
105J4
854
Apr
8234
Mar
20%
89%
6%
27
"h'% "7"
i",io6
"rk
"266
Jan
36
July
Feb
Apr
102
July
Jan
Jan
3%
3134
1034.
62
—*
"m
700
Jan
Apr
1%
Jan
Jan
1%
4
1%
1,000
"te
Jan
5%
554
200
5%
3%
900
1
1
200
102
434
454
134
2% July
"us Jan
Mar
Apr
Apr
34
Jan
3%
.10
Preferred
3%
5i6
)%
1%
Metrop Edison 86 pref.—*
834 / Jah
May
40
Michigan Gas & OilMichigan Sugar Co—
May
Jan
Apr
"466
Mesabl Iron Co.-
Mar
Feb
"34k "SO"
634% A preferred. —100
*
49
Aug
79%
5%
1,000
"m
64
Mar
200
"m "~m "m
Participating preferred- *
Merrltt Chapman & Scott *
Mexico-Ohio Oil
Apr
Feb
Feb
Mar
Mar
Feb
654
Jan
6
Jan
Middle States Petrol—
Class A
v
Class B
v t c_—
t c
254
Feb
S2 conv pref.
10 %
—
*
*
Midland Steel Prod.
Mid vale Co..
24%
54%
Mining Corp of Can
-*
Minnesota Mining & Mfg. *
600
54 34
100
pref.*
.--*
-1
"94"
8
*
Uttl—10
434
w"
Monroe Loan Society cl A
07% 101%
90
04%
6%
4%
20
700
30
28%
Montgomery Ward A
*
Montreal Lt Ht & P6w__ .*
Montana-Dakota
24%
lis"
115"
30
Mock Judson Voehrlnger.*
2d preferred....
Molybdenum Corp
150
"82% "32H """125
pf-100
6% pf-100
Moh & Hud Pow 1st
10%
10%
22%
53 34
Minn Pow & Lt 7%
Miss River Pow
8%
1,025
Jan
109
115
July
Jan
30
Aug
142
Jan
1,500
30
35
6%
200
5%
1,300
8
1,100
x5
"35 %
"33% "35%
2",900
National Fuel Gas..-—--*
"l%
National Investors com—1
1,500
IH
1%
400
4
National P & L 86 pref.—*
National Refining com..25
~85%
*
"~5%
Nat Service common...—1
Aug
Aug
Jan
July
Transit....12.60
"16 k
Mar
Aug
-1
S3 conv pref ser A
10
Pie Bakeries Inc com----*
com——*
Co—5
Gold Mines Ltd--1
Meter
—
103
11434
96
400
97
May
Plough Inc
Potrero Sugar com
"1334
T200
"13"
90
/
90
13
8334
85
—5
Alexander
*
common.--——5
Power Corp of Can com—*
Pratt & Lambert Co.——*
460
86
134
128
134
1,300
1834
454
554
2,900
"~854 ""854
"moo
5%
1434
New Mex & Ariz Land—1
"16"
*
500
334
Jan
Pub Serv of Nor 111
Pub Service of
9
Jan
Feb
Feb
Pub Util Secur $7
354
Jan
Apr
Jan
115
Apr
*
—*
r5
$5 preferred
$6 preferred
Pyle-National Co
113
1154
Aug
13%
100
July
19
Feb
100
9
May
16
Feb
Quaker Oats com..
July
434
2434
9334
434
Feb
6934
Jan
500
.154
634
Jan
9254
654
Apr
10
NY Merchandise....---*
7434
2334
254
23
26%
300
105k 105k
"""360
Feb
Mar
Mar
Feb
June
Jan
9654
Jan
2654
July
354
July
Jan
23
Aug
Jan
9654
July
Feb
105
"26 k
.100
July
Aug
36
iosk
128
2", 250
400
Jan
52
38
Manufacturing..10
*
—100
---*
Ry & Light Secur com
*
Ry & Util Invest cl A
6% preferred
Quebec Power Co
Rainbow Luminous
9%
18
'
9%
400
5
4%
55
100
120% 122
6% pref. 100
18
150
4%
55
4%
55
4,100
10
634 May
14%. Apr
11654
Jan
434 Aug
5354 June
15
1734
16
%
3%
49,800
17,200
5,700
754
3%
11,000
754
2834
234
334
17%
71C.
16
2%
Apr
s16 May
1
May
Niagara Share-
Class
A
1154
Feb
103
July
Jan
105
May
Mar
109
July
Jan
59
July
Jan
2934
July
Apr
70
July
50
92
Jan
99
July
10
98
Jan
110
Feb
40C
60
10334
3734
1434
99
150
Class
B
82
82
8234
400
5034
Jan
39%
"3854
4034
900
22
Jan
14
Jan
$3 conv
534
Jan
125
125
70
115
June
146
146
70
141
Jan
"l8"
18
1834
675
14%
Jan
23
23%
175
17
Jan
34
200
34
734 July
8734
4134
1534
July
July
Apr
9
Mar
13734
Jan
149
Apr
1854
2334
234
July
Aug
Jan
154
54
Feb
Feb
Feb
1934
Apr
Feb
34
36
Jan
34 May
he
13%
1334
*
34%
3434
preferred..
Feb
Jan
Reed Roller Bit Co
Reeves
July
Reiter-Foster Oil—
1154
Jan
2054
Jan
July
50
2", 100
24
1,600
2534
'
734
*
734
100
916
ni6
1754
534
234
800
1734
5
454
234
234
Feb
Reynolds'Investing
Rice Stix Dry QoodS
Richfield Oil pref
;10
1
*
—25
"l%
Feb
Richmond
Rad com
1
Reybarn Co Inc—
25
1334
34J4
"854 "9k
*
*
*
(Daniel) com
July
634
7554
"266
'""654 "6k
125
—*
Common
11234
10534
125
134 June
July
Raymond Concrete Pile—
900
1,300
4,100
100
9
9
3%
154
354
2
354
1
1534
14%
20
1834
1834
1554
1834
%
%
1754 Aug
54 May
334 Aug
1,900
100
534
25
254
Jan
3
Jan
*21
June
634 July
34 July
1234
Jan
434
Jan
154
Jan
634 May
134
Apr
3%
July
10434
6% preferred ser D—100
Roosevelt Field Inc..
5
1554
44%
3J4
754
Aug
Mar
Jan
Mar
Rossla International
534
Feb
Root Petroleum Co
$1.20 conv pref
5
common..
15%
14%
15%
41
Niles-Bement-Pond. _...:*
Nipissing Mines
5
38%
41
1,600
2%
2%
6
Noma Electric
6
434
454
3,100
Jan
Apr
July
3
*
—*
*
Royalite Oil—
Royal Typewriter.
•
Common
4%
86 preferred
-..._*
No Am Utility Securities
Nor Cent Texas Oil Co...5
61
58
4%
Nor European Oil com—1
Nor Ind Pub Ser 6% pf.100
62
4
1,600
900
4%
700
Apr
s16
Jan
334 Feb
3634
Apr
334
Jan
354
Jan
34 May
62
634
854
July
Jan
Jan
68
1834
1854
554
334
1854
*
554
554
Ryan Consol Petrol
*
Safety Car Heat & Lt—100
St Anthony Gold Mines._1
334
334
St Regis Paper com
5
.100
34
316
~i",906
82
170
71
Apr
85
July
Salt Creek Producers
883i
8834
82%
8834
140
7734
Apr
90
July
Savoy Oil Co
5
Schiff Co common
*
34
100
100
10534 10534
754
734
Northern Pipe Line. ....10
25
800
cl A.. 100
30%
29
31%
8,700
Enginerring..*
Novadel-Agene Corp....*
25%
25
2534
200
37
37
Northwest
Ohio Brass Co cl B com...*
3054
Ohio Edison 86 pref.—100
Ohio Oil 6% pref
100
..
109
Ohio Power 6% pref... 100
30
31%
106% 10654
109
11034
11134 11134
100
275
75
400
10
1st pref..100
15
1334
13%
14%
"l",30b
.50
3334
32%
33-34
1,250
103
Jan
434 June
2134
Jan
1554
Jan
3534 July
2634 May
10134
Jan
104J4
Jan
110
Feb
101J4
Jan
1034 June
2634 June
Jan
10834
934
38
2634
7%
preferred
Mar
Feb
Schulte Real Estate com
Mar
10
200
3
66
*
82%
Northern N Y Utilities—
com.
Jan
Russeks Fifth Ave
Rustless Iron & Steel
600
Nor Amer Lt & Pow-
8754
89
For footnotes see page
893
4,200
300
'j.
200
""466
400
3,900
600
89
200
6
1,600
32,200
1,600
34
34
Feb
754 June
1534
2634
8%
134
2034
Mar
Apr
Mar
Mar
Feb
7
Apr
354
Mar
11
Jan
254
634
Jan
Mar
10534 May
4%
Feb
1934 Apr
23
2654 June
3854
Jan
8
Mar
354
134
Jan
Jan
Apr
70
3,6
Apr
154
3934
7034
Mar
Feb
July
Mar
19
634
454
July
Apr
Feb
92
Jan
Feb
7,6
3
3734
Jan
6
Aug
55
May
99
Aug
734
734
600
7
Jan
10
Feb
3
334
300
154
Jan
3434
3734
1,800
26
634
3734
Apr
Aug
Feh
34
3454
"""466
30
Apr
42
554
97%
734
Jan
554
94
99
334
May
7jg
Apr
.
_
*
Jan
134
4134
Scranton Spring Brook
Scoville
Manufacturing.25
Water Co $6 pref
"34 k
*
Securities Corp General..*
Seeman Bros Inc
*
434
434
434
100
Jan
10954
July
Segal Lock & Hardware—*
234
2 34
254
11C-?4
July
Seiberling Rubber
254
334
3,900
1,100
11454
July
Selby Shoe Co
109
July
Feb
2%
Jan
4134
lk
Apr
6734
5%
46%
Jan
434
Mar
Jan
43!
Feb
Jui,
Selected Industries Inc—
48
35
Feb
com
*
35
*
35
1434
Aug
Common.
3334
Jhly
$5.50 prior stock..25
84%
354
8454
Allotment certificates.
Aug
July
Rochester Gas & Elec Corp
Class A opt warr
Class B opt warr
preferred.
Jan
334
June
10534 10534
5
534
Raytheon Mfg v t c—50c
Red Bank Oil Co
Niagara Hudson Power-
83
41
11
Prod—
*
—*
Reliable Stores com—
1
NY Steam Corp com
*
N Y Telep 634% pref„100
37
Jan
1234
99
Pyrene
10%
2/200
July
154
Jan
3734 May
Puget Sound P & L—
Jan
88
30
Jan
Jan
July
48
pref-—*
2
Mar
25
July
100
pref---100
7% prior lien pref—100
434
84
Apr
I834
354
2334
834
1154
834
Apr
954
Apr
854 May
9834 Apr
"iok "iok """906
com—*
110^4
1254
23%
*
'iok
6% prior lien
25
2334
Aug
334
Jan
2034 June
654
Jan
3634 June
954 July
1834 Feb
Okla—
i",io6
86
86
140
600
2554
7% July
934 June
9ie July
Feb
200
2354
Apr
Jan
July
14%
34
2554
30
June
1034
42
1254
—*
Feb
Jan
1
,
1154
.
*
preferred
Jan
"l2"
*
*
preferred---Serv Co of Colo—
$6
734
Jan
3634
Apr
754
Jan
6634 May
9834
Jan
July
Jan
Apr
July
Feb
Feb
July
57
Mar
Pub
July
Feb
434
1234
9i6
134
56
1,200
June
1834
34
he
Producers
$6
Jan
Apr
3054
54
5654
3%
90
June
July
Jan
100
100
10
14^
July
$7 pf- *
2%
9%
85
Apr
Feb
40
Jan
H
6% 1st preferred
7% 1st preferred
'78% "81 k
Mar
934
316 May
%
Aug
Pub Serv of Indiana
Jah
Apr
734
19k
Feb
Apr
15
Jan
200
Feb
Mar
June
800
34
2J4
Mar
54
3% June
34
Jan
2,900
36
316
200
3%
June
54
3^200
3
Jan
?16
%
*
N Y Pr & Lt 7% pref.
86 preferred-
17,800
'"2§k "28k """500
Rights
"4% "5%
New Process
N Y & Honduras Rosario 10
325
32
254
July
Newipont Mining Corp. 10
*
700
1634
32
1534
9034
834
123
"sik
2,000
1%
1854
134
~"sk
3~6OO
1154
7434 May
6J4
Jan
74
8%
50
"
1034
11%
"18%
-
New
2%
6
Feb
36
"ll%
1,100
..100
11654
434
Powdreli &
13%
New England T & T Co 100
New Jersey 2iinc
..25
Jan
Apr
2,900
86 %
Jan
18'
2,600
85
11
Aug
41
Apr
634
Aug
100
8354
Apr
1254
26
*
Mar
134 May
May
554
554
July
112
44
9834 July
3134
1154
12
200
Feb
Feb
1554
Jan
Jan
11234
3354
m
26
"n""ii%
Jan
Mar
55
Jan
Feb
July
42% July
2234
Apr
11134 Apr
10734 June
13234 July
Jan
87
Mar
12
2,300
RR-50
-1
Pittsburgh & Lake Erie.50
Pittsburgh Plate Glass-25
Pleasant Valley Wine Co.l
10%
Neptune Meter class A...*
1,470
50
Prudential Investors
112 t
10654
76
1% May
-
11134
11%
112
Mar
50
preferred-——1Q0
7%
89
,
July
17
20
Pierce Governor
60
Jan
June
44
Pressed Metals of Amer__*
%
554
10634 10734
*
Jan
23
834
Jan
13034 13134
107 34
Feb
500
Feb
Jan
334
6854
210
5
28 %
Feb
Aug
2034
112
11034 11054
Jan
28
17%
Jan
4254
200
18
18
11034
33
Apr
300
Neisner Bros 7% pref—100
Nelson (Herman) Corp...6
14,900
8354
Feb
4%
,
534 July
2
%
334
110
"4% "434 "Ik
600
%
Nebraska Power 7% pf-100
Nehi Corp common
*
50
"19J4 "20k """366
5
%
Ohio F S 7%
Jan
6
Providence Gas
Nebel (Oscar) Co com.---*
Oklahoma Nat Gas
37
Jan
300
com
60
Apr
i",300
7% 1st preferred
26
Feb
27
July
v./*-:; June
"30"
1%
254
%
Nor Sts Pow
Apr
sis July
134
Jan
"iik
preferred
May
20
200
10%
%
7%
4
100
400
Nat Union Radio Corp...1
Class B
100
7354
Common
12% May
28%
Common
"36"
2034
14,000
33
23
25%
6654 Feb
654 May
754 Mar
434
26
83
57
*>16
National Sugar Refining..*
Nat- Tea Co 534 % pref-10
New York Transit Co
26
33
1754 May
45% June
1% June
May
Jan
534
434
4%
%
90
4554
June
*4;2C0
454
5%
26
Premier Gold Mining—-1
Prentice-Hall Inc.-------*
it*
Jan
89
"57 k
1%
65
Conv part preferred...*
National Steel Car Ltd.—*
N Y Shipbuilding Corp—
Founders shares
*56~
H
1%
%
com
234
Aug
Apr
35
"57%
25%
1%
com...*
common
Feb
Feb
52
July
June
85
4
"""%
New Haven Clock Co
32J4
Royalty--1
Propper McCallum Hos'y *
Prosperity Co class B
*
63
1
Warrants
Nat Leather common....*
New Bradford Oil..
Aug
Mar
1,000
100
Pitts Beseem & L E
June
19%
55
39
July
PItney-Bowes Postage
July
6
19%
3734
2,800
47
51 %
37%
9054
834
2534
5134
Apr
834
Jan
19%
20
8
Apr
cl A...5
200
*
Pittsburgh Forglngs
Jan
Jan
May
Phoenix Securities-
1034 May
Jan
2534
834
1% Feb
1%
Jan
4234 May
2434
25
Pioneer
11%
13
Jan
254
754
35
100
July
.
Jan
7%
300
Y,200
May
Mar
834
Jan
654
Feb
3254 July
29% July
10734 June
Apr
m
25%
Phila Elec Co $5
Apr
150
334
19
Jan
May
600
300
52
7%
2^300
'""7k "5k
100
pref——*
Phila El Pow 8% pref—25
Phillips Packing Co.
*
Jan
77
3,800
16%
52
175
434
38
"2k "2%
200
1334,
15
Nat Bond & Share Corp—*
2,300
334
37
"~2%
Nat Bellas Hess com——1
Nestle-Le Mur Cod A
3854
Apr
2954
10634
106
June
3%
16%
National Candy Co com..*
National Container com..*
Nat Rubber Mach.
2334
2954
32%
2954
554
354
2954
2654
10454
Apr
40
150
Jan
Apr
500
5,800
High
9
July
Feb
Apr
5
7%
554
32 34
Low
534
1%
11
Pines Winterfront
July
3554
I654
com.l
National Oil Products
June
37
*
Nat Auto Fibre Avtc...*
preferred...
May
34
July
138
Mueller Brass Co com.... 1
N achman-Sprlngfllled
754
4%
Aug
20
15534
Jan
June
6%
N Y Wat Serv
Feb
Feb
28
149
5%
N Y Auction Co
133S
July
July
*
com
Aug
May
32
3%
1534
100
_
preferred
Jan
July
10154
94%
734
-2.50
Co——*
Peppered Mfg Co
Perfect Circle Co;
Philadelphia Co com
Jan
400
454
3234
Co——50
Pennsylvania Sugar Co_ -20
Apr
Mar
1,100
5%
Penn Salt Mfg
July
Jan
100
"5%
7%
1
Pennroad Corp v t c_.—-1
Penn Cent L & P $5 pref--*
$2.80 preferred
*
Pa Gas & Elec class A
*
Pa Pr & Lt $7 pref—
*
$6 preferred
-*
5434
134
8334
9134
Jan
2 34
1854
100
—
2834
Jan
240
10
Nev Calif Elec
Preferred
Penn Mex Fuel Co.
Pa Water & Power
15%
4%
Mountain Sts Tel & Tel. 100
National
—
Feb
81
6%
734
Nat Mfg & Stores
19
3934 July
134 May
:"-22J an
9134
Jan
41%
734
85.60
13
675
Distillery..1
Mtge Bank of Col Am shs. *
National Gypsum
Jan
153""
150"
31 %
Moore (Tom)
National Baking Co
1034
11,700
Moody's Invest Service.-*
Moore Corp Ltd com
Preferred A
Mountain Producers
-1
Parker Pen Co_
10
Patchogue Ply mouth——*
Pender (D) Grocery A — *
Class B—
—*
Peninsular Telep com——*
Penn Traffic Co
Midland Oil Corp—
10
1
Airways.
1,600
734
Pacific P A L 7%
Pantepec Oil of Venez
Paramount Motor
634
2 34
1834
Class A conv
preferred...25
pref
-*
Range Since Jan. 1 1936
Shares
634
Pacific Ltg $6
June
5
High
Low
Oldetyme Distillers—
Jan
""300
Price
1
Outboard Motors B com..*
Feb
76
,--100
Par
59
5%
34 %
Week
High
450
102% 102%
6%
Memphis Nat Gas com—5
Memphis P & L 7% pref—*
Mercantile Stores com...*
preferred
10%
87
Mead Johnson & Co—
Merchants & Mfg cl
1034
for
of Prices
27%
42
1034
Week's Range
Sale
Aug
60
Dredging..—*
Me Williams
Low
12
Margay Oil Corp
Marlon Steam Shovel
Last
Range Since Jan. 1 1936
300
20
8%
recelpts..£l
American dep
7%
STOCKS
(Continued)
Week
1936
Sales
Friday
Sales
Friday
STOCKS
(Continued.)
Aug. 8,
8834
8934
1
—
334
3%
2
50
30 %
Jan
3,400
254
Jan
100
81
Ja!n
78
Jan
95
Jan
92
•300
Feu
Mar
40
4%
Feu
June
:
Maf
Volume
New York Curb
143
Friday
STOCKS
Last
Sale
CContinued.)
Par
Price
Exchange—Continued—Page
Sales
Week's Range
High
.-£1
1
Sentry Safety Control
Seton Leather
com
H
13
12%
13*
20*
600
135*
450
117
10
110
May
July
16
com..25
135}*
5% cum preferred—100
Sherwin-Williams of Can
15
JUne
1,000
7
7*
4%
18*
1%
47%
5,700
25
S3 conv pref
Sherwin-Williams
2%
1*
Jan
Apr
110% 110%
Shawinigan Wat & Pow..*
Shenandoah Corp com—1
,
2*
%
100
%
6*
20*
...
Sbattuck Denn Mining.. .5
131
*
Jan
Mar
Feb
Apr
8%
Jan
Feb
Jan
55
Apr
Apr
23%
4%
Feb
July
Apr
dep rec ord reg—£1
Smith (L C) & Corona
*
1
Sonotone Corp
Southern Calif Edison—
331
20
7
29%
2*
1,100
7%
26%
29*
3%
19
2,600
July
Feb
7*
Jan
July
34% Mar
3% Feb
Jan
Jan
6% preferred B
25
5% % pref series C—25
28*
28%
300
Feb
Mar
41%
29%
27%
27%
100
25%
Jan
28%
2* May
76% July
6%
76%
100
Telep—100
Pipe Line
10
141
4%
100
"7%~'m
"200
4%
Co—5
----25
So'west Pa Pipe Line—..50
Spanish & Gen Corp—
Am dep rets ord bear. .£1
Am dep rets ord reg—£1
Spencer Chain Stores
Square D class A pref
1
Southland Royalty
39*
39
48
"32*
600
%
9%
33*
%
500
9%
29
650
Stahl-M eyer Inc com
Standard Brewing Co
"166
40
40
%
33
200
2*
Jan
Jan
40%
Feb
Feb
Common-..-...——'"
Conv preferred
*
(Ky)._—-10
Standard Oil (Neb)
25
Standard Oil (Ohio) com 25
Standard Oil
14*
45*
19*
32*
100
14*
45*
500
19*
13*
19%
13%
3,800
"34%
1,300
32
3*
3%
1
*
Standard Silver Lead
Steel Co of Can Ltd
6%% preferred—-.100
*
1st preferred
50
2d preferred
20
Sterling Brewers Inc
1
6*
200
1
3*
3%
19
3%
Co—10c
Venezuelan Petrol
14
15
6%
18%
49%
23*
Jan "~7%"*Feb
May
41% June
June
13
Jan
7
3%
Aug
3%
16% June
25%
100
100
1
Jan
50
18
Feb
30
1%
15%
6%
2*
Jan
Feb
Jan
4%
22%
2*
18%
27%
2%
3,300
1,000
19*
""3% JT
5~66O
13*
75
14%
5%
Jan
7-132 June
12* July
10,300
100
5%
5
52
300
76%
5*
Taylor Distilling Co—..1
Technicolor Inc common.*
Jan
Aug
Jan
7-132 June
24%
Jan
6%
Jan
76%
25*
27
3,900
6
6*
*
5*
400
"67"
_4*
Aug
1
Jan
4
101
89
Jan
3*
200
a*
May
2
3*
5,100
1%
Jan
400
3
30
31*
3,400
18
3
3*
200
1*
"I *
Jan
May
100
1*
2,000
VA
1*
3%
"30%
Mar
2%
77*
3% May
73% May
200
July
Jan
2%
Jan
Aug
Feb
Feb
5%
Jan
Aug
2%
6%
Jan
3
Feb
.3%
33%
July
Jan
July
July
Mar
3
92
27%
July
3
Apr
May
92
Aug
27%
Aug
June
10%
Mar
4% May
92
26*
5%
,10%
•2%
2%
siH
10
1,700
18
5%
8
34*
34
35*
20
20
20*
5,700
1,100
9%
600
9
9*
49
48%
49
Mar
19
Jan
20
July
4%
37%
150
100
Feb
Feb
Jan
Feb
Jan
Feb
July
7
May
Apr
78
Jan
15%
Jan
7% May
9% May
27
July
25
64
Mar
7% May
9% May
80% Aug
300
100
May
20
26*
27
400
80*
10%
51
June
6%
78
80*
Jan
July
July
75
78
Jan
Jan
36% June
20*
102%
102
66
101* 103
'
21
2*
15*
3
"15* "16/
1*
1,400
2% June
7%. Apr
10% May
5~200
1%
100
6*
100
3*
7*
'4%
8
300
300
rets——5
Apr
1
Apr
r5
.
7* '
2
8*
2*
24,300
1,800
10
16%
3
Mar
Feb
Apr
July
Feb
15%
40
Jan
7
Jan
Jan
11
Mar
Jan
3%
6%
July
July
Feb
6%
29
7%
2%
104%
5%
35%
9%
July
Feb
Feb
7% Mar
1% June
91%
4%
Feb
Jan
July
2~800
100%
5%
4*
5*
Mar
79*
July
1st &
Aug
Apr
Apr
1%
7%
Feb
Feb
1st &
Jan
11%
June
9%
Feb
68%
Mar
July
12%
Aug
10
July
68%
5%
Aug
Aug
Feb
* June
Jan
2% Mar
65
17,300
109
Aug
June
52
750
1,300
BONDS—
39%
Jan
4% Mar
6* May
32% Mar
6* July
May
6,400
19%
5%
32%
Mar
Mar
Jan
43*
200
104%
111* 111*
40
103
Jan
21%
5%
48%
J.06
10
107
Mar
113,
43
'is June
*
Jan
1%
"""360
%
Jan
Feb
Apr
Apr
Feb
Feb
3%
3%
4
3
3%
3%
1%
2,200
3%
1,300
Jan
Jan
5}^
5%
1946
ret 5s....
1951
ref 58.......-1956
ref 5s
1968
*
Mar
Mar
10
7*
7*
7%
9*
12*
14*
35
36
9*
12*
13*
10%
1,000
4,700
36*
700
600
May
23%
8%
12%
11%
600
12%
14*
36
36
Jan
6
2,000
600
Jan
Apr
Aug
Apr
26%
11%
105*
1st &
104
103* 104
102*
101* 102*
1st & ref
1967
4*8
Aluminum Co
s
13
9%
37%
14%
16%
16%
Apr
107
Feb
102%
96%
Jan
107
July
95
63,000
Feb
104
6,000
96
Feb
102*
41,000
84
Mar
89
90* 111,000
22,000
107* 108
89
17,000
79% May
105% May
103% Feb
95
Aug
July
Feb
91% Feb
108% Mar
105% June
12% Aug
28% Feb
108% Mar
103% June
105%
Jan
105%
105* 105%
107
106% 107*
6s.-2016
100*
99* 100*
62,000
104*
102% 103
104* 104*
105* 105*
23,000
103
June
105
105*
1/000
102
May
106
105* 106
84,000
107% Feb
106% May
Am Pow & Lt deb
4%s._ 1947
5s—1948
—1946
Appalachian El Pr 5s. 1956
Appalachian Power 5s. 1941
Debenture 6s
2024
12
Amer Seating 6sstp.
10,000
3
22*
1,000
40,000
13
Jan
106
Jan
7,000
J107 * 108
117
5s.-1956
Associated Elec 4%s_.1953
117
103* 103*
103*
61%
Arkansas Pr & Lt
12%
22*
Amer Radiator
~3~6OO
'
92%
102%
104%
107%
113%
61,000
98
Jan
'
Jan
July
Apr
Feb
Feb
117
Feb
104
108%
Mar
Jan
Apr
July
61
62
43,000
55% May
65%
Feb
71*
48*
47*
73
54
41,000
Jan
Mar
Mar
July
48*
35%
28%
27%
80%
48%
29,000
6,000
July
July
49
50
45,000
30
Jan
57%
July
48*
49*
Mar
57
July
54*
33
Mar
59
July
91%
93
28,000
20,000
38,000
47,000
11,000
29
53
75
Jan
93
78
Jan
91% Mar
Associated Gas & El CoConv deb
Conv deb
Feb
104
51,000
6s 1948
Amer Com'ity Pow 5%s'53
Am El Pow Corp deb 6s '57
Amer G & El deb 5s—- 2028
Jan
Mar
Mar
Feb
Feb
Mar
94
94
f deb 5s '52
Aluminium Ltd deb
Feb
July
Mar
105% 106
1st & ref 5s
72
1938
4*6 C—1948
4*s
1949 ""47*
5%s
—1950
Debenture 5s—...1968
Conv deb 5s
21%
11%
*105 * 107
1942
Abbott's Dairy 6s
Alabama Power Co—
Conv deb
Triplex Safety Glass Co—
Am dep rets for ord reg—
Tri-State T & T 6% pref. 10
5%s—..1977
Rayon 5s
1950
Conv deb
Assoc
5%s A '55
Atlanta Gas Lt 4%s_.1955
Atlas Plywood 5%s_ —1943
49*
48*
54
91*
■
87
Assoc T & T deb
"l02*
99
102* 102*
99
99%
10,000
100% May
96%
Jan
54
104
Aug
July
101
Apr
77%
Apr
108
Mar
Baldwin Locom Works—
6s
with warrants—1938
97%
98*
97
97*
97
7,000
7
10
*
13*
14
94%
94%
25
19%
20%
1,100
10
13%
100
10
■
June
7
Apr
100
July
6s without warrants 1938
"96 "
94
96
3,000
63,000
79
Feb
73%
Apr
100%
July
—1938
Bell Telep of Canada—•
1st M 5s series A—1955
95*
94
96* 117,000
•75
APr
98*
Mar
July
115*
1st M 5s series B—.1957
Ulen & Co 7%% prefr—25
Union American Inv'g—*
120*
June
2% July
25% May
8%
Jan
94% • Aug
4%
36%
14%
94%
12
Apr
22
7%
35%
1%
Apr
10%
July
Feb
51
July
July
Aug
United Aircraft Transport
Warrants
om
200
*
United Corp warrants
2
United Elastic Corp
United Gas Corp com
1
*
2
2*
2,700
*
8
7*
""7* "7*
23",600
116*
116* 117*
1*
1*
1,200
Option warrants
United G & E 7% pref. 100
1*
"7*
United Lt & Pow com A.
Common class B
8*
*
64
*
7*
64
8%
8*
66*
20
20
4
Apr
July
Jan
Jan
2,300
81%
*
Jan
13*666
86%
3*
Jan
400
2,200
Jan
75
*
5%
29%
6%
Jan
43
8*
Mar
2%
Jan
10%
9%
Mar
119
2%
Mar
July
Mar
£1
5*
United N J RR & Canal 100
For footnotes see page
5%
100
5*
257
893
w
W..1938
..I960
Bethlehem Steel 6s—1998
5s series C
Binghamton L H & P 5s '46
Birmingham Elec 4%s 1968
Birmingham Gas 5s—1959
Broad River Pow 53—1954
Buffalo Gen Elec 5s—1939
Gen & ref 5s.__.
1956
Canada Northern Pr 5s '53
115* 115*
120* 121*
122* 122*
11,000
tl40% 141*
*105% 106
95*
95%
96*
78,000
85*
85
85*
4,000
98%
99*
*106* 108
*104* 105
7,000
105
104* 104*
99*
Canadian Pac Ry 6s.. 1942
112*
112* 113
Carolina Pr & Lt 5s... 1956
104
103* 104*
49,000
Cedar Rapids M & P
20
July
Cent Ariz Lt & Pr 5s. 1960
*112* 113*
106*
106* 106*
55
May
Jan
Jan
6*
257
Jan
June
5s.'53
Jan
117
116
Jan
116%
Jan
121% Aug
123% May
Jan
145
Mar
105%
89%
Feb
Jan
107
Apr
96%
15",000
89%
105%
Jan
Aug
87% Feb
103% June
Apr
109
104
July
July
Mar
114%
134
8,000
4,000
July
9%
68
Jan
stamped
6s stamped x w
July
8%
Jan
June
6s
7,000
31,000
93
United
Am dep rets ord reg
Amer deposit
Yukon Gold Co..
Trans Lux Pict Screen—A
$3 preferred.
Molasses Co—
89
1
_
Wright-Hargreaves Ltd..
*
4*
"68* "T50
104
7% preferred A
100
Tonopab Belmont Devel.l
Tonopah Mining of Nev.-l
United Milk Products
1,300
46
2% May
Woodley Petroleum _... 1
Woolworth (F W) Ltd—
Am Roll Mill deb
rets ord reg ... £ 1
Am dep rets def reg__-£l
Todd Shipyards Corp
*
Toledo Edison 6% pref. 100
S6 conv 1st pref
4%
Wise Pr & Lt
Mar
4*
1,200
%
4%
12*
Pref non-voting
200
6*
Mar
3%
17%
62
& part pref
Coke——*
West Va Coal &
6
2,800
Am dep
cum
100
102
Tobacco Securities Trust
S3
77*
80
4*
Tobacco Allied Stocks—
UDited Chemicals
Jan
7% pref—100
Wolverine Portl Cement-10
4%
12
Union Stock Yards.
July
July
55
Union Gas of Canada
June
24
1,300
Apr
Aug
July
"
1
27
1 *
5
1%
4*
-
Jan
June
Apr
86
Feb
Mar
Mar
Feb
30
8,100
12*
Tung-Sol Lamp Works
80c. div pref
100
I
Jan
July
60*
1
22
—*
10*
100
Class A
Jan
Conv preferred
Wilson-Jones Co
54
"5* "Mf ""£*
Corp.—1
Jan
3%
7%
Feb
Feb
Jan
—1
Const.*
Trunz Pork'Stores
Jan
3
Feb
Westvaco Chlorine Prod—
Jan
66
1
800
1,500
5,100
9*
35%
25
6*
.
1%
1%
Apr
Feb
93
Wil-low Cafeterias Inc.—1
51% June
pref.—100
Common..
4%
June
Apr
400
27
Exports—,*
Jan
1%
June
4*
*
1
Jan
Williams (R C) & Co .—- *
Williams Oil-O-Mat lit-*
2% June
2*
*
Jan
600
200
4%
pref..*
7% preferred.
51*
36*
3*
Tenn Products Corp com.*
Texon Oil & Land Co
Mar
West Texas Util $6
36*
1%
51*
Teck-Hughes Mines
1
Tenn El Pow 7% 1st pf. 100
41%
*
Westmoreland Co
5
"9* ""9* "16" ~2~206
36*
May
Westmoreland Coal Co—*
Mar
4%
12,000
19
VA
100
7% 1st preferred
102
5
50
Walker Mining Co
July
July
4%
4,000
3%
3%
5
7%
Western Maryland Ry—
July
29
100
Feb
3%
35%
*
Class B
Aug
June
Wahl (The) Co common.. *
Waitt & Bond class A....*
Jan
36%
107%
4%
4%
"960
Taggart Corp common...*
Talcott (J) Inc 53-iij % pf-50
Texas Gulf Producing
Waco Aircraft Co..
Apr
Feb
Jan
Feb
Apr
July
Jan
Feb
Jan
Feb
88
June
*
Apr
3%
Mar
3
24*
76
pref..100
*
Feb
14*
2
5%
100
—1
Unexcelled Mfg Co
Va Pub Serv 7%
1
Apr
3%
Tampa Electric Co com..*
Tasty east Inc class A—.1
Twin Coach Co
..100
Feb
Aug
6%
24%
27
1*
Class B—1
7% preferred
Jan
3
Feb
100
*
*
Jan
Syracuse Ltg 6% pref-.100
Tublze Chatillon
Utah Radio Prod
Feb
Feb
17
27*
*
Trl-Contlnental warrants
77*
18%
Jan
tear
Rights
Tobacco Prod
*
1%
41%
2
Sunray Oil
Tilo Roofing Inc
1*
63
%
13%
common—*
Thermold7% pref
5
52
T,o66
35
1%
2%
1%
500
24*
Venezuela Mex Oil Co—10
17
2*
Tishman Realty &
Utah Apex Mining Co
Utah Pow & Lt S7 pref
Apr
100
""e* "T%
1,000
5%
*
Jan
May
18
Universal Products
4%
6
35
Stutz Motor Car
Texas P & L 7%
22
22
1*
Feb
Jan
May
70
1
3*
Feb
* June
33% Aug
,
700
8
com
Western Tab & Sta vtc..*
.5
Sullivan Machinery
Swiss Am Elec pref
4%
-1
Wayne Pump common—1
Wentworth Mfg Co
5
Western Air Express.——1
Western Auto Supply A..*
Western Cartridge pref. 100
Western Grocery Co
20
Jan
800
17%
"~6% "T
Sterchi Bros Stores
Sterling Inc
Stetson (J B) Co com—
Apr
July
Jan
59
17%
Jan
2* May
2% Apr
1,400
'16
Co common.."
Mar
July
97
25
Swiss Oil Corp
3*
4*
Util Pow & Lt common—1
May
%
Apr
July
21%
25
107
3*
3*
11
200
Preferred
Stptn Finch Oil Corp
3*
*
10
2*
""* "I*
*
Universal Pictures
1,100
32
50c
Universal Insurance
TM
2*
2*
28*
3*
2*
Utility Equities Corp—..*
Priority stock
*
Utility & Ind Corp
_._*
Cbnv preferred.
*
%
Jan
3%
12%
35%
17%
100
44*
107
1
*
.——
Common class B
Sunshine Mining
U S Rubber Reclaiming..*
US Stores Corp com. „._-*
United Stores vtc
90
42
Apr
3% May
May
100
Vogt Manufacturing
Stand Investing $5.50 pf-*
Corp
Stroock (S) & Co
28*
United Wall Paper
Universal Consol Oil
16*
88
Utica Gas & Elec 7% pf 100
Standard Dredging Co—
Stlnnes (Hugo)
"2*
Mar
60
Feb
Jan
July
2*
31
*
10
11%; Mar
Jan
2*
Standard Cap & Seal com .5
7%
July
%
.....
%
9*
32%
Feb
;Jan
6%
32%
900
39*
149
3% June
Southern Union Gas—*
South Penn Oil
May
16
87*
2*
28*
3%
Corp com..*
7% preferred
Jan
Aug
Jan
%
% May
2% July
14% July
Jan
VA
100
Preferred... .......to100
class B
Jan
Feb
83
1
*
10
July
38%
10
_*
U S Finishing common
United Verde Exten
Apr
July
July
July
July
Jan
1%
%
1
975
38*
2*
1H
7% preferred
89*
38*
16*
34%
27%
Sun Investing
Class B
88*
38*
High
June
100
89
1
20
Stein (A) &
Preferred
25
U S Dairy Prod class A...*
*
%
Low
200
*
3,000
Standard P & L
10
2*
1st pref w(,th warr
U S Lines pref
U S Playing Card.,
2*
...
9*
2%
U S Foil Co
38%
5% pref erred....
10
United Shipyards com B_. 1
United Shoe Mach com..25
U S Int'l Securities
365
Range Since Jan. 1 1936
1,600
Jan
2*
Southern
1*
Apr
20%
for
Week
Shares
1*
116
38%
Southern N E
of Prices
7. High
Low
*
Apr
5% original preferred.25
Southern Colo Pow cl A.25
Price
145%
July
/Apr
Week's Range
Sale
United Profit Sharing
Preferred
U S Radiator
Amer
Ty pewriter v t c com. ..
341
340
Last
Par
Shreveport El Dorado Pipe
Line stamped.
25
Singer Mfg Co....—.100
Singer Mfg Co Ltd—
STOCKS
0Concluded)
High
Low
Shares
Selfrldge Prov Stores—
Amer dep rec._
Sales
Friday
Range Since Jan. 1 1936
for
Week
of Prices
Low
891
4
Apr
108
76
Jan
102*
Mar
109%
98%
111%
105%
Apr
104%
116%
Jan
104*
113*
Jan
107%
Jan
Jan
Feb
July
Mar
July
Feb
Mar
Last
Week's Range
for
Sale
of Prices
Low
High
Price
Range Since Jan. 1 1936
%
Low
17,000
10334 104
10034 1013* 133,000
18,000
10334 1033*
103 34
8,000
10034 1013*
1013*
1003*
104.
1st & ret 4%s ser
1013*
1981
4% s series H
Cent Maine Pr 4%s E. 1957
1033*
1950
D..1957
Cent Pow & Lt 1st 58.1956
Cent States Elec 5s... 1948
5%s ex-warrants...1954
Cent States P & L 5% s *53
Chic Dlst Elec Gen 4%s '70
6s series B
1961
Chic Jet Ry & Union Stock
10134
893*
Cent Ohio Lt & Pr 5s.
Cent Power 5s ?er
5%s.l942
Chic Rys 6s ctts
1927
Cincinnati St Ry 5%s A '52
6s series B
1955
Cities Service 5s
1966
5s
registered....1966
7134
7334
7334
743* 338,000
72 34
74
43,000
104 34 105
33,000
'
723*
79,000
11053* 1063*
Jan
Jan
Apr
May
96
14,000
72
95
Jan
993*
933*
1023*
25,000
74
88?* June
823*
jan
61
Apr
623* May
65
Apr
1043*
1053*
Apr
July
1053*
1023*
104J*
1013*
1043*
Mar
July
102
July
95
Feb
6s8eries
11134
7,000
11023* 103
Illinois Central RR 6s. 1937
Aug
El Northern Util 5s—1957
Apr
A '53
53*s ser B. 1954
1956
Sf deb.53*s—.May 1957
Indiana Electric Corp—
Aug
753*
783*
803*
1063*
Feb
111 Pow & L 1st 6s ser
1st & ref
1st & ref 5s ser C...
Jan
Feb
106.
63*s series B
Jan
5s series C
June
Indiana Gen Serv 5s..1948
1113*
Apr
Apr
1093*
1013*
104
June
7434
26:566
67
Apr
80
Jan
98
23,000
863*
Jan
98
Aug
993*
10,000
93
Jan
8334
8,000
693*
Jan
8334
8334
2,000
77
73
8234 387,000
10234
25,000
8134
102
May
Jan
Jan
973*
993*
Aug
863* June
843* July
853* July
1033* July
103J*
773*
773*
53
13,000
1033* 1033*
77 34
7834 113,000
43,000
773*
79
63
53
7,000
102
Mar
105
Jan
Jan
34
Feb
1st
1956 'III""
1957 111
4%s series C
4%s series D
F...1981
1st M 4s series
1965
5%s '48
Community Pr & Lt 5s '57
3?*s series H
11134 11134
111134 11234
111
11134
111
1113*
10,000
1956
5s series D
113
1939
Gen mtge
4%s
1954
1981
773*
Without
58 series B
July
10734 1073*
95
34
Conv deb 6%s w w. 1943
1958
101
1100
9334
9234
9334
103
103
Crucible Steel 5s. .1..1940
7%s 1941
9534
3534
May
1273*
Mar
May
109
Jan
Jan
Isotta Fraschini 7s
88
Jan
"9934
Cuban Tobacco 5s....1944
99
34
7534
7534
106
106
P&L4%s *56
232:666
36,000
99 34
2,000
14,000
4,000
5% s. 1959
104
Denver Gas & Elec 5s_ 1949
108
108
108
Derby Gas & Elec 5s..1946
103 34
103
103 34
1,000
5,000
6,000
1,000
13,000
Det City Gas 6s ser A. 1947
10634
.1950
1053*
10634 1073*
105
10534
10,000
18,000
Dallas Pow & Lt 6s A. 1949
10834 10834
1952
10734 106 34
5s series C
Delaware El Pow
5s 1st series B
10334 1043*
293*
Jan
96
3,000
Jan
853*
Jan
Mar
102
883*
Jan
70
Jan
Mar
1053*
Mar
1123* May
1243* July
110
Feb
1003*
7
634
534
"l34
13*
Aug 1 1952
Certificates of deposit
Deb, 7s
..Aug 1 1952
Certificates of deposit.
Dixie Gulf Gas
10334
8834
Elmira Wat Lt & RR 5s *56
El Paso Elec 5s A
634
1%
13*
3,000
33,000
8834 217,000
8734
110734 110
1043* 1043*
1950
2,000
2,000
102?* 103 34
13*
6%s._1937
Elec Power & Light 5a.2030
16,000
7
48
Jan
1013* June
933* Aug
104
Feb
1063*
July
14:666
Jan
Jan
99J*
1023*
Mar
Jan
,
23*
14634
1033* 10334
72,000
3,000
28,000
"8834
35,000
14134 14834
el33
133
1033*
88
8734
1063*
1053*
983*
803*
Jan
Mar
July
Jan
1953
Erie Lighting 5s
.1967
Farmers Nat Mtge 7s. 1963
Federal Sugar Ref 6s..1933
Federal Water Serv 534s '54
103%
Firestone Cot Mills 5s. 1948
103 34 10434
14,000
102
July
Firestone Tire & Rub 5s '42
10334 10434
J93
13,000
1023*
July
10434 10434
26:666
10434
Florida Power & Lt 5s. 1954
963*
91
9634 127,000
Jan
100
Jan
903*
Apr
1013*
1053*
1063*
953*
1053*
98
Aug
1053* 106
105% 105%
84%
84%
36,000
3,000
105
Apr
5,000
103%
105%
Aug
6,000
75%
Jan
Jan
27
—
—
1955
Miss River Pow 1st 5s. 1951
Missouri Pow & Lt
Aug
Apr
99
104%
104%
106%
112%
104%
105%
104%
107%
106%
107%
86%
July
Apr
June
June
June
June
Feb
Apr
Mar
May
Feb
July
19,666
14,000
1063*
106
20,000
100
95
1053*
1C1%
1063*
"973*
107 3*
"743*
1063*
993* 100
3,000
95
32,000
1053* 106
34,000
923*
1013* 1023*
1053* 1063*
92
923*
963*
973*
26,000
20,000
24
June
27
Aug
58
1,000
50
1003* 102
103 3* 1033*
53*s '55
Missouri Pub Serv 5s. 1947
27
102
June
62
Mar
Jan
102
Aug
101
Feb
103%
91%
Feb
104% July
107% May
Jan
103
94%
7V
95
Jan
Jan
Aug
Mai
102% May
98%
Jan
102% Mar
83% May
89% Mar
106%
102%
106%
95%
105
107% May
109%, June
108% May
1063* 1063*
107 3* 108
1073* 1073*
30,000
57,000
1,000
16,000
7,000
743*
75>*
79,000
57%
Jan
96
97
11,000
93%
Jan
July
Jan
107
Feb
106
June
53*8.
1944
Munson SS 63*s ctfS.,1937
Jan
1,000
883*
923*
833*
7,000
82
Jan
98
4,000
117%
Jan
105% May
86%
Jan
109%
Jan
64% May
64% May
64%
Apr
2030
953*
Nat Pub Serv 5s ctfs.1978
333*
Deb 5s series B
85,000
953*
983*
973*
10234 102?*
23,000
96
July
7,000
98
May
92
93 34
10,000
79
Jan
96
July
General Rayon 6s A..1948
6834
69 34
7,000
30
Jan
Gen Vending Corp 6s. 1937
2634
2634
1,000
223*
June
69J*
273*
Aug
July
2634
2634
3,000
20
June
27
Apr
26,000
86
May
94
Feb
1940
102 34
92
Certificates of deposit
Gen Wat Wks & EI 5s. 1943
91
Georgia Power ref 5s..1967
Georgia Pow & Lt 5s..1978
101
Gesfurel 6s
9034
10034 10134 107,000
87
23,000
8534
32
32
2,000
90
168,000
8734
83 34
2,000
8234
102
102 34
36,000
.
8734
(Adolf) 434s...1941
Grand Trunk West 4s. 1950
Gt Nor Pow 5s stpd._1950
1023*
Grocery Store Prod 6s. 1945
"7734
Guantanamo & West 6s '58
109
1106
7534
7734
15534
"72"
10434
1961
20",666
11,000
92
1935
Hamburg Elec 7s
Hamburg El Underground
& St Ry 534s
1938
34
32,000
104
1023*
30
25
Hood
25
1013* 102
104
1043*
1023* 103 34
May
Apr
81
July
93
Feb
103
Jan
1023*
Apr
108
64
July
Jan
Jan
•
98
76
July
July
Feb
July
1,000
2,000
4,000
5,000
1978
110534 108
98
Debenture
53*s
1954
147,000
763*
19,000
July
July
Feb
107
Aug
85%
Apr
97
July
18
Jan
34
107% June
112
May
125
June
78,000
85
Jan
88%
Jan
66,000
3,000
3,000
74%
Jan
107% 1073*
109
98%
119
'
79%
79%
79%
99%
102%
Aug
Feb
July
July
Feb
Feb
Feb
Mar
Mar
New Orleans Pub Serv—
1942
91
Income 6s series A..1949
86
5s stamped
N Y Central Elec
53*s *50
903*
91
86
86
91
86%
69
Jan
97
May
43*s stamped—1950
Y P&L Corp 1st 43*s '67
Y State E & G 4%s. 1980
Ext
2,000
105
July
110%.
1st 53*s
1063*
52,000
105
Apr
107%
1033* 103J*
72,000
102%
105%
101%
111%
Jan
104
106
1033*
108
1962
108
11013* 103
1113* 1113*
Feb
Niagara Falls Pow 6s. 1950
1053* 1053*
1073*
1107
863*
863*
75
May
Apr
97
72,000
983*
993* 1003*
10
106
102% May
1033* 1033*
1003*
N Y & WestCh'r Ltg 4s 2004
Debenture 5s
1954
1073*
933*
433*
Jan
213* June
1013*
Aug
1033* May
973*
Jan
323*
1043*
1073*
1033*
July
July
Jan
Jan
Mar
1083*
Mar
1073*
Mar
Mar
104
Mar
1063*
Ju!y
Hydraulic Pow 5s
1950
111134
Ref & lmpt 5s
1951
U06 34
1113* June
1063*
Apr
For footnotes see page 893
98
New Eng Pow Assn 5s. 1948
763*
Mar
103
3,000
'763* L20.000
Mar
110034 108
105
753*
75
.1950
13,000
60
1981
104
753*
763*
763*
1948
Conv deb 5s
1173* 1173*
823*
1063*
1033*
1103*
4,000
130,000
763*
Conv deb 5s
N
Houston Light & Power—
1953
98
N E Gas & El Assn 5s. 1947
N
Feb
Jan
Jan
973*
973*
1173*
Mar
May
Jan
107
5%
101%
104
Aug
July
Feb
New York Penn & Ohio—
72
Jan
1233*
123 3* 1233*
107
1073*
New Amsterdam Gas 5s '48
Mar
Jan
Feb
Mar
July
Jan
Feb
Aug
303*
2,000
Nevada-Calif Elec 5s. 1956
Mar
383*
903*
90
563*
1043*
1023*
1083*
1053*
Neisner Bros Realty 6s '48
July
1043*
"2:666
93
128
'
85
1023*
25
1,000
106
106
93
29
Apr
44
"MOO
57
73?*
106
Mar
79
993* Aug
973* June
963* June
1023* Mar
1023* Aug
106
10434 10434
1033* 1033*
11093* 1093*
72.
Jan
...2022
943*
108
43*8.1981
6s series A
July
96 34
Jan
5,000
13,000
993*
9534
963*
34
9634
9534
i.
18,000
10,000
108
Feb
993*
434s series D
4^8 series E
—
Mississippi Riv Fuel 6s '44
Mar
9534
1st
105%
14,000
50,000
256,000
9934
1st
■'m
50,000
1.04% 105
1033* 103%
105% 105%
96
Deb gold 6s. June 151941
Deb 68 series B
1941
1st 5s series A
110% 111%
105
Apr
12,000
Gatlneau Power 1st 5s. 1956
warrants. 1943
19,000
90
103%
Jan
102%
Apr
103% May
108%
Feb
102%
Jan
103%
Jan
102% Feb
1063* 107
18,000
6348 with
16:606
73*
63*
1043* 1043*
9734
Rubber 7s
1936
Houston Gulf Gas 6S..1943
58,000
103% 104
105% 105%
Feb
Nat Pow & Lt 68 A...2026
97
1947
98%
1103% 1033*
95%
Nassau & Suffolk Ltg 5s '45
9734
Hall Print 6s stpd
98%
105
Jl03 % 104%
in
78 without warrants-1941
Nebraska Power
Hackensack Water 5s. 1938
6s series A
...1977
99% 100
Jan
5s ex-warr stamped. 1944
434s series B
Feb
Feb
Feb
Gary Electric & Gas—
Guardian Investors 5s. 1948
Gulf States Util 5s... 1956
Mar
Montana Dakota Utilities
First Bohemian Glass 7s '57
Gobel
Mar
106%
119%
103%
Mansfield Min & Smelt—
Aug
Feb
1953
Glen Alden Coal 4s...1965
53*8.1951
273*
993*
General Pub Serv 5s..1953
Gen Pub Util 634s A. 1956
-
1942
Lone Star Gas 5s
4,000
6,000
General Bronze 6s
-
104
105%
28
10134
Banks 6s-5s stpd._.1961
5348.1979
mm-'m
53*8.1950
Lehigh Pow Secur 6s..2026
Lexington Utilities 5s. 1952
Libby McN & Libby 5s *42
Sink fund deb
1957
Finland Residential Mtge
Fla Power Corp
98%
.1969
Miss Pow & Lt 5s
101
106
Jan
Jan
Aug
June
Jan
Apr
5,000
July
July
108
Apr
103%
103%
115%
100%
9,000
108%
108%
Jan
'July
Jan
Jan
1,000
100
105V*.
13*
753*
61
108
13,000
Feb
5,000
28
47% May
106%
Jan
53
107
June
Apr
1955
24,000
June
90
Mississippi Pow 5s
134
9234
Feb
71
101
June
U34
90
Jan
3,000
69
92
75
May
39%
6,000
Jan
128
9234
Jan
65
13,000
403*
393*
Jan
283* June
53*
Feb
933* July
44
102
3,000
27?*
Jan
Feb
Mar
106% 107%
1063* 107
European Mtge Inv 7s C'67
106%
105%
99%
60
60
Jan
Feb
July
105
5s series I
5s
60
101
Apr
106%
Memphis P & L 5s A.. 1948
Metropolitan Ed 4s E. 1971
Middle States Pet 63* s '45
Midland Valley 5s
1943
Mllw Gas Light 43*8—1967
Minn P & L 43*8
1978
92
99
H..1961
Feb
104
Apr
—1948
1955
1st mtge 5s ser
63*s series D
53*8 series F
July
Jan
Jan
102%
Kentucky Utilities Co—
1073*
Jan
87%
99% June
2,000
70,000
13,000
1947
McCord Rad & Mfg 6s '43
Aug
Feb
22,000
72
60%
1013* 102%
Ercole Marelli Elec Mfg—
634 s series A
107
McCallum Hosiery 6j*s '41
Aug
Jan
92
Apr
Apr
101%
Kansas Gas & Elec 6s.2022
Kansas Power 5s
Manitoba Power
133
79%
16,000
50,000
Louisville G & E 43*8 C '61
1483*
Feb
106
105% 105%
119% 119%
1033*
Aug
92% June
105
Feb
88
106%
104% 105
Jan
Jan
Feb
103
104% May
104%
Apr
119%
Long Island Ltg 6s... 1945
Louisiana Pow & Lt 5s '57
El Paso Natural Gas—
6%s with warrants-1943
Deb 634s
1938
Empire Dlst El 5s
1952
Empire Oil & Ref 534s. 1942
Jan
104% June
104%
Feb
103*
1,000
1053*
Feb
11
98%
3,000
1961
Kimberly-Clark 5s... 1943
74
107
2,000
10,000
.1947
43*8 series C
Koppers G & C deb 53.1947
July
'■
52%
Jan
1073*
71
69
53*s '55
Lt—
May
Apr
105
1043* 1043*
105% 1053*
105
105%
1963
110
Aug
1,000
101
105
72
108
109
101
56%
Apr
1053*
84%
.....
Stamped..;
Apr
3
3,000
20,000
Jersey Central Pow &
1023* June
833*
Apr
1073* June
1033*
.
72
Mar
Jan
May
Jan
Jan
July
July
57
106
43*
43*
3*
3*
1013*
85%
109%
Jacksonville Gas 5s—1942
Mar
Detroit Internat Bridge—
6%s„
July
85%
Feb
7s. 1952
1942
106
1023* May
1073* May
Jan
993*
Jan
1053*
Jan
1023*
83
Feb
53%
101
1957
Isarco Hydro Elec
109
14,000
Jan
54
101
.1961
4%s_. 1958
Iowa Pub Serv 5s
Jamaica Wat Sup
1073*
50
1,000
8,000
—...
warrants
Iowa-Neb L & P 5s... 1957
6s Series B
Consol Pub 734s stpd.1939
Cumberl'd Co
84%
1947
Italian Superpower 6s.
1st & coll 6s ser A.. 1943
Confl Gas & El 5s
1958
5s series A w w
1063*
Jan
9,000
70
Invest Co of Amer—
Consol Gas Util Co.—
Cuban Telephone
91%
Iowa Pow & Lt
Mar
76
80
107% 107%
1952
124
Consol Gas El Lt & P (Bait)
lstrefsf4s
.1952
1956
Jan
"7534
Jan
Feb
Feb
70
78
Feb
106
17
22,000
105
120
Jan
85%
1063*
7,000
July
65
70
43*8 series F
Mar
Jan
11,000
753*
96%
106%
81%
Jan
July
Jan
Aug
Jan
21,000
Apr
Feb
Feb
July
91%
Mar
1103*
6,000
Feb
80
70
5s series D
Jan
1033*
1023*
633*
J1103* HI
12234 12234 123
63*
111%
Apr
76
91
June
1133*
1133*
Consol Gas (Bait City)5s
81%
104%
4%
107
July
Interstate Public Service—
May
106
14,000
60,000
108%
101%
July
113
5,000
63
843*
1053* 1053*
97%
Jan
60
1053*
1063*
35,000
65
36,000
July
.....
43,000
66
25,000
106 34
13:666
64%
110
110734
Jan
65
34,000
11253*
91
Apr
July
1033* 1033*
753*
.75
10634
107
104% May
109% May
73
106
1962
Feb
166,000
108
1951
4%s series C
Feb
97
76
Connecticut Light & Power
7s series A
104
98%
16,000
Jan
Jan
Jan
May
86%
73%
13:666
87,000
Jan
100
98%
46,000
10634
102
75%
10634 107
10534 106
Com'wealth Subsid
Jan
"98%
Mar
Jan
96
Interstate Power 5s—1957
1103*
1103*
1103*
Apr
Jan
International Sec 5s__1947
Debenture 6s
11134
July
July
86
International Salt 58—1951
Commonwealth Edison—
1st M 5s series B—1954
June
105%
102
July
53
106
Jan
July
Aug
803*
803*
Feb
1,000
103
813*
Jan
Jan
Aug
109
1,000
100
63*
1955
7s series F
May
653*
663*
101%
98%
Jan
Jan
Feb
109
Jan
32,000
83 3*
82%
106
Feb
81%
Jan
99
953*
953*
1063*
tl06
1103* 111
753*
743*
753*
753*
733*
753*
1053*
56%
95
59,000
5,000
.1957
7s series E
Mar
82
Jan
107
943*
933*
1083* 1083*
International Power Sec—
63*8 series C
58
6,000
*953*
1963
1st lien & ref 5s
Indianapolis Gas 5s A. 1952
Ind'polis P L 5s ser A.1957
Intercontinents Pow 6s '48
12,000
103
5b..-.-...........1957
Indiana Service 5s
1950
83
82
1st
'58
76 3*
108
100
Indiana «fc Mich Elec 5s '55
High
9,000
40,000
983*
973*
*107?* 1083*
44:660
1053*
l"053* 105
22,000
104?* 1053*
101
1013* 104,000
1013*
7,000
963* 963*
94
Low
763*
1083*
753*
98
1951
Range Since Jan. 1 1936
%
High
763*
1083*
—1953
Jan
99
102
1953
753*
..1947
6s series A
97
7334
1950
1st M 5s series A...
—1947
July
96
Low
B'.__._—-.1949
Idaho Power 5s
Gas
Service
Week
Indiana Hydro-Elec 5s
111
5%s '42
Pipe
Line 6s
1943
Cities Serv P & L 5%s.1952
5%s
1949
Commerz & Prlvat 5%s '37
Conv deb 5s
for
of Prices
High
Jan
94
9,000
893*
96 r 160,000
Chic Pneu Tools
Cities Service Gas
10334 10334
1013* 102
893*
943*
...1940
Yards 5s
Week's'Range
Sale
Hygrade Food 6s A—1949
5s series
E_.-—_—1956
F.1967
series G
1968
Last
Price
Central 111 Public Service—
Cities
BONDS
{Continued)
Week
1936
Sales
Friday
Sales
Friday
BONDS
{.Continued)
5s
Aug. 8,
New York Curb Exchange—Continued—Page 5
892
114
Jan
108
Jan
5s series A
..1959
Nippon El Pow 63*s__1953
Mar
Apr
July
"
LOGO
2,000
Jan
"
5,666
1053*
Mar
Mar
Apr
July
108%
105%
112%
108%
105%
1,000
May
109
Jan
84%
Mar
90
Feb
Feb
Mar
Jan
No Amer Lt & Pow—
53*s series A
1956
Nor Confl Util 53*8—1948
No Indiana G & E 6s. 1952
943*
64
94
943*
13,000
62
66
13,000
1063* 1063*
1,000
90%
53
106%
Jan
97
Mar
Apr
67
July
Mar
108
LJan
Volume
New York Curb
143
Friday
BONDS
Last
(Continued,)
Sale
Price
Exchange-Concluded—Page
Sales
Week's
Range
of Prices
Low
for
$
1966
105%
1969
105
105
4%s series E
1970
103 %
No States Pow 5%s
1940
N'western Elec 6s stmpl945
8,000
105% 105%
5e series D
15,000
103%
105%
102% 103%
103% 104%
40,000
3,000
104%
104% 104%
1,000
102%
102%
98
103%
100%
Jan
Jan
106
June
105%
June
Jan
104
June
Feb
Mar
104%
Mar
104%
July
70%
70%
July
51
Jan
68%
1*666
50%
Jan
102
102
102%
17,000
98%
Jan
103
June
Ogden Gas 5s
1945
107%
5,000
109%
June
105%
103%
105%
Jan
1960
107% 108
105% 105%
105% 105%
Certificates of deposit.—
J 60
Ohio Edison 1st 5s
*68%
Ohio Power 1st 5s B..1952
1st & ref
4%s
July
1,000
109% 110%
105% 1C5%
1953
5s series D
1954
1961
106%
Okla Cas & Elec 5s.—1950
105%
5%s series E.
106% 107
105
105%
102% 103%
3,000
15,COt
6,000
A. 1948
120
100%
Pacific Ltg & Pow 5s..1942
Pacific Pow & Ltg 5s..1955
Palmer Corp 6s
-.1938
106""
112
Feb
107
May
Texas Power & Lt 5s—1956
106
107%
Jan
107
Feb
Thermoid Co 6s stpd.1937
Feb
Tide Water Power 5s
1979
Tietz (Leonard) 7%s.l946
102
Toledo Edison 5s
1962
107%
City Rap Tr 5%s '52
89%
94%
Jan
Aug
105%
107
Jan
119% 120%
100% 100%
(115% 117
14,000
2,000
98
Jan
Apr
114
94*,000
"88%
119%
Jan
80
Mar
121% Mar
102% Mar
116% May
94% Feb
102% 103%
104
104%
31,000
101%
Apr
104
May
88,000
100
Jan
105
Mar
105%
105% 105%
1.C00
104%
97%
Apr
107%
101%
Electric
101%
98%
Mar
Mar
1971
101
100%
1950
105%
105% 106%
25,000
104% 105
39.0C0
4s F
101
40,000
Jan
Apr
Feb
x-w
Deb
5%s series B...1959
Pennsylvania Power 5s '56
106
106
2,000
1979
Peoples Lt & Pr 5s
86%
Jan
100
15
Jan
15% Mar
113% Mar
112% July
94% Apr
Jan
108%
75% June
106% Mar
15
111%
111% 111%
5%sr.1972
Phila Rapid Transit 6s 1962
Phil Sub Co G & E 4% *57
Piedm't Hydro-El 6%s *60
111
111
107%
Piedmont & Nor 5s—1954
105%
183,000
22,000
107% 107%
16,000
18,000
33,000
105% 105%
104
105
Portland Gas & Coke 5s *40
Potomac Edison 5s E.1956
106
1961
Jan
July
104%
"l07%
Corp(Can)4%s B *59
"97
Power Securities 6s—1949
101
7,000
~
6*io6o
16,000
5,000
106
107% 107%
88%
97%
97%
1,000
6,000
39,000
100
13,000
June
105%
41%
Mar
June
Jan
Mar
103
Jan
105
May
108
Mar
Jan
96%
20% May
103% Feb
105
Apr
65
105%
106%
June
Mar
27%
106
83%
107
26
Jan
97%
Jan
101
June
32
s
Jan
Jan
Feb
108%
91%
99%
Jan
Mar
Jan
22%
101
(23%
Prussian Electric 6s-.1954
6
111%
109%
Jan
12*.000
65
(92%
104% 104%
72%
73%
4%s series F._
112
91
59%
106% 107%
6s-.1953
Potrero Bug 7s stpd—1947
17,000
111%
(98%
59%
Pittsburgh Coal 6s—1949
Pittsburgh Steel 6s—1948
1939
Feb
97% 105,000
96%
12%
Phila Elec Pow
Power
8,000
106% 107%
94%
93%
5,COO
106%
16,000
Jan
98
82%
28,000
77% May
90
67
14,000
68,000
41%
Jan
99%
Jan
61
Twin
104% 105%
36
4,000
45,000
36%
105% 106%
45
Jan
47%
Aug
104
Apr
104
Apr
105%
Apr
Aug
89
29
Apr
Aug
Jan
Jan
Jan
Feb
Feb
Feb
74%
105%
Mar
104%
Apr
Mar
60%
48%
106%
106%
110%
109%
June
Aug
40
Jan
106%
110%
Jan
104
(110
—2022
ds 3d stamped
-1944
41%
Union Amer Inv 5s A. 1948
Union Elec Lt & Power—
102%
5s series A
*93%
92
"22",000
101% 102
61,000
32
(25
5*8*666
107% 107%
90
88%
221,000
Jan
90
July
100
Mar
Jan
103
July
98%
24
June
June
Mar
106%
76%
Apr
iot
Jan
00
37%
July
84%
Mar
Aug
—
V
Mar
Mar
June
July
Feb
139% 140
16,000
132%
111%
110% 112
105%
105% 106
27,000
4,000
15,000
1,000
77,000
6% perpetual certificates
Pub Serv of Nor Illinois1956
1966
1st & ref 5s
5s series C
4% s series D
1978
4%s series E
1980
1st & ref 4%s ser F. 1981
4%s series I
1960
104% Apr
113%
Jan
45%
Jan
25% May
25% June
115%
66
66
68
6,000
25%
2,000
25%
89%
96%
1,000
89
25%
25%
88%
6%s 1941
f 6s
1945
United Lt & Pow 6s—1975
6%s._
5% s
1952
1973
105
97
July
104% 105
100%
95
57,000
81%
Jan
Jan
95
June
12.000
104%
Jan
113
10,000
75%
Jan
90%
May
July
102%
July
105%
Feb
103%
90%
92%
Aug
106%
Jan
103%
Feb
July
101%
Aug
111% 112%
88
88
(102% 103
6% % serial notes.-.1939
6% % serial notes.. -1940
Utah Pow & Lt 6s A. .2022
4%s——
.1944
103%
103% 103%
2,000
101%
101% 102%
101
101%
8,000
18,000
2,000
2,000
18,000
106
Utica Gas & Elec 5s D.1956
5s series E__
Valvoline Oil 7s.-....1937
Vamma Water Pow 5%s '57
Va Public Serv 5%s A. 1946
1st ref 5s series B
6s
.1950
-
99% 100%
(101
101%
102*"
*3*2*666
100
100%
94
101%
100%
94%
43,000
13,000
22%
23
—.1946
Waldorf-Astoria Corp—
7s with warrants
1954
Ward Baking 6s...
1937
Wash Gas Light 5s.—1958
Wash Ry &
22%
103% 103%
5,000
5,000
2030
94%
73*666
68
69%
17,000
21,000
Yadkin Riv Pow 5s... 1941
107
106
July
York Rys Co 5s
104%
Jan
11,000
103%
Apr
6,000
105% 105%
103
17,000
103%
95% 121,000
94%
91
90
70,000
85,000
85%
105%
July
68
106% May
107% June
100% Aug
104
Apr
102
Aug
100% Aug
95% July
%
17
Jan
June
27
Jan
103%
105%
Aug
107
Jan
Mar
107%
Feb
105%
Aug
107
Feb
107% May
105
99
Mar
Jan
105
103%
Jan
111
88%
33%.
Jan
95%
69%
106%
.
Jan
July
July
July
July
105
Mar
107
Feb
"4",000
107% June
106
Jan
107
Feb
10 f"
106
Mar
107%
107%
Feb
"2",666
103% 103%
8,000
Apr
104%
Jan
18% 'Jan
7,000
21%
21%
26%
Feb
(107%
106% 106%
(104%
1952
Wise Pub Serv 6s A
105% 105%
Mar
June
105% Apr
96%
Jan
100% May
95%
Jan
91% Jan
9,000
95
July
July
Jan
102
5,000
13,000
106% 107
104
104%
(105% 111
Wash Water Power 5s. 1960
105
4,000
106% 106%
105% 105%
103%
Elec 4s.-1951
West Penn Elec 5s
106
106% 106%
1952
104%
102
May
U S Rubber Co—
Wise-Minn Lt & Pow 5s '44
105
103% 103%
104% 105
Jan
Aug
Jan
104% 104%
103%
80
105%
101%
104% 105
Jan
12,000
13,000
Wheeling Elec Co 5s. .1941
107
Jan
June
West Newspaper Un 6s '44
West United G & E 5%s '55
112
Feb
June
32%
33%
92
94
111%
72
Jan
Un Lt & Rys (Del) 5%s '52
United Lt & Rys (Me)—
6s series A.
107% May
Feb
107%
Jan
116%
'
76
96
1*04%
Jan
85,000
„„.„.,1974
1959
22,000
,
Jan
Jan
104
Mar
105
1,000
Aug
108%
Aug
Feb
2,000
94%
145% May
Au
110
106% 106%
115
115%
West Texas Util 5s A. 1957
Jan
102%
106% 106%
West Penn Traction 5s '60
Public Service of N J—
Mar
106
1957
United Elec N J 4s—1949
United El Serv 7s ex-w 1956
s
100
4,000
107
106
1967
5s series B__
4%s
1st
50,000
11,000
39%
41%
102% 102%
1954
6s series A
97
Phila Electric Co 5s—1966
Poor & Co 6s
108%
Feb
106%
104%
107% 107%
1968
Peoples Gas L & Coke—
4s series Bi.1981
Jan
July
July
July
Jan
105%
107
(106
113% 113%
4%s series B
105%
108%
106%
114%
Jan
108% June
(108% 109%
1954
5s series D
Penn Water & Pow 5s. 1940
105
106% June
9,000
1,000
Penn Pub Serv 6s C..1947
Pomeranian Elec
6s^w—
United Industrial
Penn Ohio Edison—
6s series A
81,000
24,000
"93""
.1979
Penn
4,000
'^81v:^
108% July
104% July
'104%
5s
48%
106%
105% 106
108%
1957
5s series B
50%
106
105%
105
65
Feb
408
1954
Texas Elec Service 5s. 1960
Texas Gas Util 6s.„.1945
4%s_1977
Penn Cent L & P
Syracuse Ltg 5%s
94%
100%
July
49
13,000
19,000
*64**
Jan
Apr
July
78
Ulen Co¬
1941
ser
59
High
81
47%
6%s„1953
Pacific Gas & El Co—
Pacific Invest 5s
13,000
Low
62% May
46%
Jan
49
Tenn Public Service 5s 1970
Terni Hydro-El
Apr
(106% 107%
77
49
Tennessee Elec Pow 5s 1956
Mar
Pacific Coast Power 5s '40
1st 6s series B
1946
7s stmp ctfs dep. 1946
Super Power of 111 4%s '68
1st 4%s
j
1970
Jan
86
10,000
8f,000
m-ry.
1936
Mar
93%
27,000
9,00(
92%
7-4% stamped
7-4% stamped
Mar
102
93%
*93%
79
76%
107
Apr
Range Since Jan. 1 1936
$
Stlnnes (Hugo) Corp—
107%
107
for
Week
High
77%
Apr
103% June
100% 100%
1940
Oswego Falls 6s
Low
78
Apr
Mar
44,000
1947
6s series A
Okla Power & Water 5s '48
Standard Pow & Lt 6s. 1957
Standard Telep 5%s._ 1943
104
Ohio Public Service Co—
6s series C
of Prices
103%
20,000
(104% 105%
D.1956
ser
~
68%
Week's Range
Sale
Price
N? western Pub Serv 5s 1957
N'western Power 6s A. 1960
Last
High
Low
Northern Indiana P S—
6s series C.
Sales
Friday
BONDS
(<Concluded)
Range Since Jan. 1 1936
Week.
High
893
6
1937
105% July
102%
Mar
Jan
Pub Serv of Oklahoma-
5%s. 1949
Pub Serv Subsid
Puget Sound P & L 5%s '49
1st & ref 5s series C. 1950
1st & ref
.
1966
4s series A
4%s
1950
1968
Queens Boro G & E 4%s '58
5%s series A
1952
Reliance Manag't 5s.. 1954
ser D.
103%
95%
90%
86%
106% 106%
(104% 104%
1,000
105% 105%
103
(100
Quebec Power 5s
"7j)00
Rochester Cent Pow 5s '53
89
90
Ruhr Gas Corp
26%
26%
6%s_. 1953
Ruhr Housing 6%s_._1958
Safe Harbor Water 4%s '79
St Louis Gas & Coke 6s '47
(22%
105%
15%
34,000
2,000
26%
26%
Saxon Pub Wks 6s.—1937
(19%
6s with warrants... 1935
6s ex-warrants. —1935
Scripp (E W) Co 5%s.l943
Seattle Lighting 5s. —1949
19
103%
66
13,000
.1948
Shawinigan W & P 4%s '67
4%s series B.
1968
1st 4%s series D.„ 1970
Sheridan Wyo Coal 6s. 1947
£21^
20
18%
103% 103%
66
65%
100
100
Second Int'l Sec 5s—1948
(106% 107
104 % 104%
104%
104%
104%
104%
104% 104%
69%
5s. 1957
166%
Southeast P & L 63.—2025
106%
Sou Carolina Pow
104%
103
Jan
Apr
July
Jan
98% May
104
Aug
July
Feb
Jan
Feb
Jan
June
Jan
3%s
1945
3Ms.May 1 1960
Debenture
Ref M
3%s B.July 1 '60
1st & ref mtge 4s
1960
Sou Calif Gas Co 4%s.1961
Sou Counties Gas 4%s.l968
Sou Indiana G & E 5%s '57
Sou Indiana Ry 4s
1951
105%
106%
106%
110%
69%
100% 101
106% 106%
103%
100%
5s—1957
So'west Pow & Lt 63 —2022
100%
6s...1945
Stand Gas & Elec 6s
1935
Certificates of deposit.
Convertible 6s .—1935
Certificates of deposit-
104%
S'west Pub Serv
82%
82
.
(20
20%
20%
20%
(21%
28
(Province)—
7s stamped..
1952
70%
1947
73%
95
Feb
Baden 7s.
25
May
33
Feb
16,000
3,000
3,000
"81666
3,000
8,000
2,000
11,000
48,000
1951
81
Debenture 6sDec 1
1966
80%
Standard Investg 5%s
1939
6,000
106%
106
106%
82,000
37,000
1.11
14,000
110%
105%
(103
107%
106
6,000
103%
£8
12
June
Aug
July
101%
Jan
Jan
108%
24%
27
Feb
108%
June
19%
105%
129%
Jan
July
July
June
110
33
Jan
.
—
7%s stamped
107%
103% 103%
100
100%
102% 103%
99% 100%
.
104% 104%
82
83%
83%
81%
83%
82%
83%
80%
82
80%
81%
(100% 101%
35,000
27,000
17,000
17,000
' Jan
May
Jan
Jan
Prov Banks 6s B—1951
July
16
July
30
Feb
104
Jan
30%
Mar
5%s
External
6%s
1947
Feb
Hanover (City) 7s—1939
Mar
108
Feb
Hanover (Prov)
58
Jan
Jan
Jan
97
Apr
101
Feb
72
101
108%
6%s.-1949
(City) Peru6%s.1958
Mar
Lima
Mar
Maranhao 7s.
Mar
July
Mendoza
July
103%
Mar
101
Jan
100%
106%
105%
Jan
June
106%
110%
July
Mar
111
Aug
Apr
107
Jan
Feb
104% June
106% May
Jan
56%
101
106
108'
82%
Jan
104
92%
Jan
99
Jan
100%
103%
July
Jan
Feb
Jan
Aug
July
14,000
91
Jan
6,000
100
May
33,000
15,000
69
Jan
83%
67% May
May
66
83%
84%
83%
120,000
64
May
May
33%
3,000
5,000
29%
102
2,000
99%
25
May
95%
89%
11
Feb
Mar
34
Jan
102
July
.
Jan
99%
Jan
July
1958
22%
22
12
If"
~i"L666
22
"22"
12
2,000
1,000
5,000
11,000
3,000
15%
14%
78
(19%
(19%
13%
...
"2",000
21
Feb
May
32%
Jan
19% May
26%
12%
17%
14%
95
Jan
Feb
Jan
Au
July
9
13%
9%
71%
Feb
63
Feb
88
July
Jan
20%
July
Jan
Jan
10%
Jan
12%
5,000
Jan
May
7,000
May
14,000
5,000
June
10,000
June
15
5,000
1 %
1%
1%
1%
1%
1%
51
51
12%
12%
(12%
22
Jan
20
1%
,
Mar
92%
3,000
27,000
—
May
Jan
98
Russian Govt
1961
Feb
21
12
15
6%S—1959
6%s—1919
6%s certificates
1919
5% s
1921
5%s certificates
1921
Santa Fe 7s stamped-.1945
Santiago 7s
1949
Apr
28%
2,000
13%
19
de Janeiro
73
28%
18% May
17%
...
98
19%
Aug
18% May
60
18
14%
98
77.
Issue of Oct 1927
7s
17
(80
7%s
Mtge Bk of Chile 6s.
1931
Mtge Bk of Denmark 5s '72
Parana (State) 7s.—1958
17,000
22%
22%
1951
4s stamped
-.1951
Mtge Bk of Bogota 7s. 1947
Rio
61
23%
22%
12%
3,000
May
11%
11%
Jan
37,000
63% May
97
Jan
101% June
105%
Feb
83%
23%
17%
2%
2%
.
2%
2%
60
Jan
Mar
Apr
Jan
Jan
Jan
Jan
Jan
Apr
12% May
12%
Jan
82%
July
Feb
■
Feb
July
July
102%
-
Jan
Apr
14%
98%
July
69
17,000
24% May
9,000
July
16,000
1,000
(22
22%
Medellin 7s series E..1951
June
28%
60
—1952
Secured 6s
103
105%
105%
105%
Jan
57%
Jan
7% May
72% June
74% Aug
4,,000
99%
German Cons Munic 7s *47
Apr
Jan
55%
4,000
8%
Danzig Port & Waterways
98
106%
100%
100%
100%
101
1953
Apr
Feb
28%
29%
—1955
61
72%
28%
1952
6s series A
Danish
70%
74%
8
Cauca Valley 7s.,
1948
Cent Bk of German State &
Jan
July
101% May
103
"2*666
17
20
Buenos Aires
17
37,000
106
82
Debenture 6s
105% 105%
78%
Gas 6s. .1944
S'western Lt & Pr
1947
.1951
20-year 7s
Jan
Issue of May 1927
S'western Assoc Tel 5s.1961
Southern Nat
Agricultural Mtge Bk (Col)
20-year 7s
1946
74
Sou Calif Edison Ltd—
Ref M
FOREIGN GOVERNMENT
AND MUNICIPALITIES—
Mar
5s
Schulte Real Estate—
Servel Inc 5s
103
Jan
124
(108
1955
_
lo'ooo
15%
(129%
Joaquin L & P 6s B '52
Sauda Falls 5s.
14
105% 105%
San Antonio P S 5s B..1958
San
106
9,000
Apr
Jan
83%
7m
25
105%
ii*666
100
105%
103%
96%
93%
89%
106%
106%
106%
*
No par value,
the rule sales
ange.
x
a
Deferred delivery sales not Included in year's
not included in
year's range,
( Friday's bid and asked price.
e
r
range,
n Under
Cash sales not included in year's
Ex-dividend.
No sales
were transacted
during current week.
Cash sales transacted during the current week and not included in weekly or
"
yearly range:
El Paso Nat. Gas 6%s 1938, Aug. 6, 1 at 138%.
' '—*
Under-the-rule sales transacted during the current week and not included in
,
V
weekly or yearly range:
z
0
Gen. Vending 6s ctfs. of dep. 1940, Aug. 5, 2 at 28.
delivery sales transacted during the current
Deferred
week
and not Included
in weekly or yearly range:
Ceianese Corp. 7% pr pref.. Aug. 4 at 113.
Abbreviations Used Above—"cod," certificates
of deposit; "cons," consolidated
"cum," cumulative: "conv," convertible; "m," mortgage; "n-v," non-voting stock
'v t c," voting trust certifcates;
'w i, * when issued; "w w„" with warrants
'x-w," without warran .s.
.
Financial
894
Aug. 8,
Chronicle
1936
Other Stock Exchanges
Sales
Friday
Last
New York Real Estate Securities
Exchange
Stocks {Concluded)
Closing bid and asked quotations, Friday, Aug. 7
61
Bway Bldg 6%»---1950
p
Ask
10%
7%
67
103 East 57 St Bldg 6s. 1941
Bid
City & Suburban Homes..
Lincoln Bldg Corp v t c...
39 Bway Inounlta........
7
5
54
"24%
24
7%
88%
38%
1%
1%
Waldorf System Inc
"11"
*
Warren Bros Co
Baltimore Stock Exchange
Orders Executed on
:
STEIN BROS. &>BOYCE
Established 1853
60S. Calvert St.
touiivilla, Ky.
Hagerstown, Md,
Members New
•
1948
Series B 5s
Par
Stocks—
Arundel Corp..
pref v t c
Black
&
Price
16%
34 %
34%
Preferred
2%
5
251
24
Fidel & Guar Fire Corp. 10
Guilford Realty pref
*
100
t
v
Feb
30
36
70
28%
255
27
May
93%
90
84
Jan
46
111
July
116
20%
642
It
Jan
21
33%
60
17
Jan
97
88
Jan
36
120
July
July
45
55
"l8%
293
9
55
19%
v:lv,: i-X'IV--
4,668
14%
1%
995
50
260
260
20
Monon W Pa PS7% pf.25
27
28
73
100
100
New Amsterdam Cas
5
3%
60
56
13%
13%
60%
14%
101
1,658
1 %
1,350
110% 110%
2
Northern Central Ry._.50
101
Distillery..1
"~I%
Penna Wat & Pow pref...5
U S Fidelity & Guar
2
110 %
O wings
Mills
1 %
.19%
Aug
Apr
50
Jari
Feb
61
Mar
Aug
20%
1%
Feb
%
% May
248
Mar
2
Jan
3
Feb
1%
Jan
Aug
Apr
261
June
Feb
23%
28
Aug
19%
70
•
118
207
5,461
20
1% June
40
3%
Apr
95
60
Apr
9%
16%
Jan
1%
Jan
%
110%
Aug
Jan
1
Feb
13%
Aug
,
101
July
109
Jan
June
20
Apr
Aug
Bonds—
Baltimore City—
4s sewerage lmpt...l961
Bait Transit 4s flat..1975
A 5s flat
$100
30%
Wsh Bit & Annap 5s flat *41
9%
9%
115
14,500
3,600
3,000
115% 115%
30%
31%
38%
39
1975
15%
Jan
33
July
17
Jan
41
July
8
May
Jan
119%
June
9%
Aug
Aug. 1 to Aug. 7, both inclusive, compiled from official sales lists
Sales
Week's Range
of Prices
Week
Price
Low
High
$ 1,000
70
88
88
Range Since Jan. 1 1936
....
Shares
1st
preferred..!
1%
50
Amer Tel & Tel
100
Boston & Albany
.100
Boston Elevated..
.
1%
50
4
4%
4%
435
22
22
Common
100
Adams
for
of Prices
Low
High
Week
Price
Range Since Jan. 1 1936
56
57%
1,450
15%
15%
15%
20
5%
5%
8%
50
Common.
8
950
16
15%
16%
1,550
...—25
23
22
23%
750
36
38%
350
4%
750
4%
46%
4,300
Low
High
Class "A"__
Amer Pub Serv Co pref.
100
'
1
"~3%
3%
Associates Invest Co com. *
46%
45%
Asbestos Mfg Co com
Automatic Products
com.
6
9%
Automatic Washer
conv pf*
Bastian-Blessing Co com.*
Bendix Aviation com
*
Berghoff Brewing Co
1
BInks Mfg Co A conv pref *
Bliss & Laughlln lac cap.5
Borg Warner Corp com. 10
Prior preferred
28
100
1st pref stpd 100
1%
July
2%
Apr
2
July
5%
Apr
Class A
_..___*
Class B..
*
(E L)
*
10
com
Canal Const Co conv pref *
Castle & Co (A M) com. 10
Sec
.1
com
1,000
Boston &
9%
7%
Feb
3%
40
1%
May
16%
6%
Jan
16%
21%
Jan
32
7%
Jan
3
Jan
29%
30%
12%
14%
3,200
9%
9%
660
28%
78%
27
28%
2,050
East Boston Co
East Gas & Fuel Assn—
Common
6% cum pref
100
250
21%
21%
100
16%
Jan
27
27
28
600
27
20%
13%
20%
1,250
20%
13%
25
13%
Apr
Aug
50
11%
July
18%
Mar
10%
10
10%
12,800
7%
Jan
10%
Mar
mm
150
1%
Jan
5
Jan
38%
Jan
56
July
4% % prior pref.1
51 %
1%
51%
1
450
54
400
1%
100
70
Feb
30%
Aug
28%
365
17%
July
41
Feb
9%
428
4%
July
14%
12%
Feb
2%
100
1,310
1
Jan
*
16
15
16
Preferred
2%
2%
780
1%
4%
10
35
Jan
64%
47%
90
40%
Jan
50
4%
4%
10,600
49%
4
*
165
23%
Co
*
Gillette Safety Razor
*
B__
..*
*
Helvetia Oil Co
1
Isle Royal Copper Co
14%
'Apr
Jan
Apr
%
100
Jan
9%
1%
6%
63%
73%
25
3%
Jan
11%
Mar
176
41%
Jan
83
Mar
60
Jan
84
Mar
7
Feb
100
5
v
120
210
Linotype..*
23%
25%
41%
65
10
*
1,441
16
20
Jan
Jan
Feb
July
July
19%
Feb
Dixie-Vortex Co
5%
Jan
1%
38%
Jan
117%
2%
Apr
3,100
Jan
May
7%
80
pref __*
41%
June
Jan
20
Mar
Apr
30
14%
77%
15%
1,100
13
June
18%
Jan
Elgin Nat Watcb Co___15
14%
38%
38%
Jan
38%
Aug
Gardner-Denver Co
57
57
58%
80
39
Jan
60
July
16%
16%
16%
650
11%
Jan
16%
Aug
13
52,900
7%
Aug
36
37
1,150
22%
Jan
19%
11%
Mar
58c
May
July
23
18
Feb
June
10
Apr
Aug
5%
21
150
2%
130
July
450
Elec Household
Feb
June
18%
38%
16%
17
Feb
Mar
550
June
27%
1%
51
16
40%
Eddy Paper Corp (The)..*
Feb
26
Jan
16%
*
Econ Cunnghm Drug com *
3%
18
Jan
9%
27%
Class A.
Jan
Jan
2%
35
20%
40
*
com
.
21%
10
15%
Jan
Jan
Feb
300
26
14%
20
15%
4%
10
26
;*
_5
19%
20
18
Utll cap.5
com
General Candy Corp A
Gen Household UtlJ—
5
Common (new)
Godchaux Sugars Inc—
16%
13
Class A
»
36
7%
■
350
27%
Jan
13
Aug
39%
Mar
*
19%
20%
550
20%
July
Goldblatt Bros Inc com..*
30%
30%.
30%
550
8%
22%
Jan
Mar
Jan
Apr
Great Lakes DAD com.
28
27%
28
650
20
July
30%
33%
July
1%
Feb
Hall Printing Co com
10
Heileman Brew Co G cap.l
9%
10
950
6
Jan
11%
Apr
8%
Jan
13%
Apr
Aug
65
100
15%
1%
Jan
2
665
11
Jan
568
14%
1%
Feb
28%
7%
18
70%
21
3%
3%
300
2%
897.
27
"l8~~
Jan
Jan
tootuolew
conv
Aug
70c
3%
Deep Rock Oil
14% Aug
28%' Aug
9% Mar
56c
65
*
28
2,600
1,150
19%
1%
,1
Jan
14%
100
1%
com
8
Jan
13%
July
369
,
25
TexJa Oil Corp
pref..35
13%
228
14%
20%
A
De Mets Inc pref
Dexter Co (The) com
3%
19%
class
14%
Decker (Alf) & Cohn comlO
Aug
Mar
14
Cumul
100
11%
100
14%
Preferred
Jan
613
20%
Mar
27%
Quincy Mining
*
169
Apr
I 481
Stone & Webster
Jan
Apr
Aug
Jan
37%
Shawmut Assn tr ctfs
8
10*
47
2%
36%
24
Mar
126% 128
21
Apr
4%
6,200
2,350
23%
35%
21
4%
36%
Mar
50
Reece Buttonhole Mach.10
4%
34
9
Apr
36% May
26c
4%
35%
132%
110
Pennsylvania RR
Reece Folding Machine. 10
6
.25
133
Jan
70c
117%
Jan
Jan
36c
Aug
July
-
Jan
98
20%
97%
July
Jan
70c
Feb
50
100
3%
%
30c
7%
106
240
19%
Feb
Jan
120
1
35c
Feb
12%
2%
40
1%
"70c
June
Jan
50
120
July
100
%
5%
1%
140
7%
4%
100
40c
3%
July
7
2,092
46
Cord Corp cap stock
Crane Co common
5%
78
97%
......100
Feb
35
Aug
11%
107
1%
"47"
Preferred
1
1,448
72%
July
133
1
2%
Mav
10%
July
7
1% May
11%
49
~
Continental Steel—
567
10
7%
4%
Jan
Feb
250
1,600
200
7%
116
107
26% May
2%
.100
38
Jan
96%
132
10
9%
11
30% June
Cudahy Packing pref..100
30
11%
50
550
Curtis Lighting Inc com..*
Dayton Rubber Mfg coini*
1%
10
10%
1
33
July
31%
1%
Apr
.....
33
105% 106%
72%
71%
5
.........
41%
1%
20
Feb
3%
7% cumul pref......100
183
7
Apr
7%
May
30%
31
31%
May
18
14%
~T%
3%
62%
Jan
Mar
1%
15
May
155%
_
19%
2%
Jan
13%
3%
25
Common.
com.
Feb
Apr
Feb
14
(The)100
Old Dominion Co
752
164% 166
Jan
8%
8%
1%
11%
127%
Old Colony RR
50
33
Jan
1%
100
North Butte
10
150
-
1%"
11%
*
New Eng Tel & Tel
Consolidated Biscuit
Consumers Co—
4%
34%
500
Compressed Ind Gases cap*
Jan
6%
Jan
Jan
7,600
Jan
July
6%
Aug
2%
33
2%
2%
27%
4%
106
20
Feb
July
31
2%
Commonwealth EdisoD.lOO
570
52
Jan
4%
Jan
279
300
Apr
Mar
2%,
Apr
2%
3
5%
Apr
Feb
May
4%
Aluminum, Uten Co.*
CoiemanjLp & Stove com..*
11%
8%
11%
(Boston)25
Mass Utilities v t c
200
15%
156%
"""1%
25
Maine Central com
27
May
Hathaway Bakeries cl A..*
Preferred
27
2%
Arp
May
25
14%
41%
*
Georgian (The) cl A pref 20
100
Club
16%
100
27%
Chic Yellow Cab Inc cap.*
Cities Service Co com
*
16%
_.
26%
Jan
Economy Grocery Stores.*
Employers Group
2%
27%
Feb
June
49%
Chic & No W Ry com..100
Chic Rivet & Mach cap._.*
17
13%
Edison Elec Ilium
26
20%
14
General Capital
33%
100
.
43%
350
June
13%
com
900
49
29%
145
22%
51
49%
Apr
May
12%
Feb
Jan
48%
*
8%
132
Aug
40
51
com. .5
6%
22
Feb
76%
8
29%
Preferred
5
Feb
3%
Jan
60
Chicago Flex Shaft com..5
39
2%
Feb
Apr
49
20% May
47%
*
com
60
2%
2%
Mar
Central States Pr & I.t—
42
14
For
76%
38
7%
*
Sub Elec Sec Co
35
12%
Preferred IB
N Y N H & H RR
71
38
10%
47
Mergentbaler
6,550
75
Aug
45
Loews Theatres
2%
*
*
30
1st preferred........100
Class
,
34%
Mar
Jan
65
Eastern Mass 8t Ry—
Common..
Apr
30%
Feb
190
73%
Mar
18
1
6% prior pref A
100
22
60
209
61
183%
Jan
69
%
63
Mar
July
78%
July
30%
'
*
July
77
Jan
12
Feb
.*
14%
10%
30
22%~ Apr
64
67
143
7%
July
Apr
920
Jan
May
6%
,
July
950
117%
2%
..25
Feb
5
14
60
10%
25
Copper Range
11
63%
140
144
Jan
July
9%
1,800
Jan
6%
48%
12%
Cherry Burrell Corp com.*
Chicago Corp common
*
14%
7%
62
Chain Belt Co
143
Brown-Durrell Co com...*
Calumet & Hecla
Gilchrist
Feb
July
14
7%
Providence.. 100
Eastern 8 S Lines
25%
39%
3%
14%
12%
9%
Aug
Jan
62
Jan
7
Mar
»*
12%
Class D 1st pref stpd. 100
Boston Personal Prop Tr_*
8%
16%
__*
preferred
Cent 111 Pub Serv pre!
Feb
8%
Class A 1st pref
100
Class B 1st pref stpd. 100
June
7% May
Brown Fence & Wire—
25
19% May
26%
9%
Aug
Jan
May
4% June
2% July
27%
Jan
3,100
4,250
15%
29%
Brach & Sons (E J) com..*
Common
Boston & Maine—
Class A
Mar
20
4%
Aug
18%
21
38%
57%
11%
....
30
~30%
July
June
15
Chicago Mail Order
..
Boston Herald Traveler..*
High
Allied Products Corp—
68%
100
51%
10
Advance Alum Castings..5
178
139
Low
Shares
5%
5%
Apr
140
July
Sales
Week's Range
5%
7%
Royalty Co com..*
149%
170% 175%
88
Jan
CHICAGO
56%
(new)
Adams (J D) Mfg com...*
2,230
174%
Apr
Man
Chicago Stock Exchange
Chicago Curb Exchange
Preferred.....
25
10%
29%
SECURITIES
Prior lien preferred
Common..
July
Jan
Central 8 W—
Amer Pi*umatlc Serv Co—
6% non-cumul pref._.50
16%
Jan
Mar
'
Abbott Laboratories—
Conv
for
Sale
Par
Par
Stocks—
Central 111
Last
21
Last
Butler Brothers
Boston Stock Exchange
Friday
20
Sale
Bruce Co
Stocks-
.
Armour <fe Co common...5
3
.
375
Friday
July
Mt Vern-Woodb Mills—
Common.....
Preferred
JZ
100
8%
23%
both inclusive, compiled from official sales lists
Feb
93%
14%
10
3
Feb
(39%
'50
86
1%
3
1
9%
4%
15%
Chicago Stock Exchange
Aug. 1 to Aug. 7,
Feb
33
25
Mercantile Trust Co
Feb
July
24%
119% 120
45
43%
119%
•
Feb
Aug
May
Feb
5
7%
19%
*
2d preferred
Mar Tex Oil
39
Jan
2%
19%
112% 112%
Preferred............ 1
Fidelity & Deposit.....20
4
Jan
91
Eastern Sugar Assoc com.l
1%
Apr
10 So. La Salle St.,
22%
23%
28%
100
preferred
Apr
July
% June
132
5
28 44
Jan
2 %
42
Members.'
High
26%
2%
5
25
Houston Oil pref
Mfrs Finance com
490
35
2%
Consol Gas E L & Power: *
5%
16%
*
Decker com
Low
1,329
*
'
%
105
New York Curb (Associate)
Range Since Jan. 1 1936
Shares
18%
32,330
New York Stock Exchange
Week
18%
Atlantic Coast L (Conn).50
Bait Transit com v t c._*
1st
of Prices
TjOw
High
Mar
Feb
Jan
Aug
Paaf RDavls & @<x
Sales
for
9%
90%
83
38%
155
Listed and Unlisted
Baltimore Stock Exchange
■Sale
8
CHICAGO
Aug. 1 to Aug. 7, both inclusive, compiled from official sales lists
Week's Range
Jan
4
181
1,022
NEW YORK
York, Pg,
Chicago Board of Trade and Commodity Exchange, Inc.
Last
Aug
Mar
Bond#—
York and Baltimore Stock Exchanger
Friday
22c
28%
'7%
23%
*
Jan
June
Eastern Mass St Ry—
39 Broadway
BALTIMORE, MD,
14%
8%
Warren (S D) Co
15c
21%
89%.
40
1%
3
Venezuela Mex Oil CorplO
Mar
100
3%
7%
38%
1
High
104
Jan
112
25
1
Utah Metal & Tunnel
90%
365
22c
22c
Low
Shares
101
100
United Shoe Mach Corp.25
Preferred Z .Z i
..25
United Gas Corp.
■
Week
100%
Union Copper Ld & Mng25
Union TwLst Drill..
5
4%
69
32
Dorset ctfs of deposit
Oliver Cromwell ctfs......
Unlisted Stocks
Ask
Bid
17rilisted Bonds
Range Since Jan. 1 1936
for
of Pi ices
Low
High
Price
Par
Co..
Torrlngton
Week's Range
Sale
2
485
28%
2
Apr
39
1%
22
Jan
Feb
Class B
.
*
July
Horders Inc
21%
July
Illinois Brick
Jan
3%
May
111 North Utilities pref. 100
July
5=%
Feb
Indep Pneum Tool vtc..*
Jan
2%
com
Co
109
14
650
11
Apr
14
18
100
16% May
22
26%
28
2,350
10%
26%
25
12%
18
*
Houaaille-Hershey cl B._*
1,100
12%
13%
Hormel & Co (Geo) com A*
15%
Aug
July
12%
10%
109
61
109%
65
May
32%
May
12%
100
Feb
109%
60
July
22%
250
8
20
20
68
Apr
Jan
Mar
Jan
Jan
Feb
Volume
Financial
143
Last
Week
Low
Iron Fireman Mfg v t o —*
Jarvls (W B) Co cap
23%
5,200
39%
"42 %
42%
70
Mar
Cine Adv Products
32
Feb
42
10%
May
Feb
Cine Ball Crank pref
Apr
July
100%
Aug
40%
40%
900
9%
10%
6,600
100%
4%
75
20
100% 100%
Ken-Rad T <fc Limp com A *
13
12%
13%
2,500
Apr
14
Jan
50
41
41
41%
290
,34%
Feb
43
Jan
2%
1%
2%
750
1%
Jan
1%
360
5%
6%
640
1% May
Jan
3%
1
Kingsbury Brew cap
La Salle Ext Unlv com...5
Leath & Co
6
*
com
Cumulative preferred..*
29 %
Llbby McNeil it Llbby—10
10
80
ZU
,
Mar
3%
Jan
7
Feb
Apr
35%
Jan
May
11%
Jan
Jan
13%
July
Jan
50
July
21
29/
29%
9%
10%
9,000 > 7
1,550
10 H
„
12%
12%
47
47
48%
4%
14%
$3 HI preferred
*
Lindsay Lt & Chem com. 10
12
14%
Lion Oil Refining Co com.
*
Loudon Packing Co com..*
Lynch Corn com.
.5
McCord Rad & Mfg A—.*
7
260
35%
200
4
7%
Jan
7
6%
450
6%
July
150
34
110
33
42
42
38
'
42
38
Jan
6%
Apr
350
'4%
Mar
15
3%
*
Cine Street Ry.........50
Cine Telephone. —.50
""m
100
Hobart
.
..
Lunkenheimer
Jan
Feb
Magnavox
Apr
43
Am
Meteor
Electric com—6
36 %
36%
800
27
Jan
59 %
59
59%
30
50
June
Apr
1%
440
1
July
m
Jan
Randall "A"
200
20
Aug
27%.
19
Mar
Metro pol Ind
15%
15%
6%
7%
34
29%
*
29%
Co allot ctfs.
Micke)berry's Food Prod-
1
Middle West Corp cap
2%
5
Common
W
2%
10%
Apr
%
Jan
18
Jan
35
Jan
29%
25
Jan
:v13-/: Aug
33% June
Jan
Apr
8%
Jan
Aug
1%
9
28
Jan
Jan
7
15
16
1%
23
Jan
28
Feb
26
30
21
18
Jan
30
Aug
200
2
Jan
4%
13%
July
2%
...
2%
13%
13%
Z/0Z/:,
50
Jan
Feb
Jan
4%
June
39,900
Apr
10%
5,950
3%
7%
Feb
I.. 111" ""*
U S Playing Card
U S Printing
3%
40%
77
16
25
7
Rapid
14
21
30
33
28%
*
_
44%
29
335
4
100
7
7
46%
20%
*
_
44%
20%
6%
*
..
_•...
10
4
*
Jan
48%
June
21
Jan
4%
100
6%
July
Jan
Jan
Jan
25
48%
35%
8%
Aug
27
June
:/t'4//"-
Aug
Jan
Feb
Feb
Feb
%
.
......
8
Feb
July
National Pumps.
180
Aug
2%
Feb
10
950
10%
4%
3%
%
61
Jan
5%
July
38%
25% May
260
3
9%
4%
Stock purchase warrants
11%
4,050
32 %
15%
June
'
650
7%
33 %
Marshall Field common..*
Mer & Mfrs Sec cl A com.l
Prior preferred
21
2
Aug
114
July
.
17
Mar
101%
Jan
30
Mar
20
18
Jan
July
June
15
Jan
Aug
185
7%
1%
m
.
28
...*
Proctor & Gamble.
1H
Mapes Cons Mfg cap....*
8
101%
105%
395
13
92%
June
10
31%
8%
Jan
28
.2.50
....
Manhatt-Dearborn com..*
1%
July
Jan
*
...
Feb
100
Feb
4%
*
"A'*_
8%
54%
Jan
6%
85
33
17
Jan
85
73
19
7%
1%
*
..
July
2
31%
*
/.
—
107
113
,:T3':/Z-
§f
Jan
351
6%
18%
*
Goldsmith
Hatfield
91
113
...*
Gibson Art
m
100%
1
95
6%
11%
101% 101%
'"llH
20
Preferred
Jan
137
6%
90%
Early & Daniel pref.... 100
Formica Insulation.
*
Jan
8
22
3%
95
*
Jan
Feb
17%
10
107
106%
105
June
12%
Feb
25
Mar
102
63
15
15,
Aug
19%
10
103% 103%
14% 14%
..*
Crystal Tissue
Eagle-Picher Lead
228
20
High
Low
Shares
High
19%
20
106%
McQuay-Norris Mfg com.*
McGraw
Low
Price
Cln Gas & Elec pref...100
Cine Post Term pref... 100
39%
37
.
Week-
*
Fyr-Fyter "A"....
Lincoln Printing Co—
Commoa^............*
Range Since Jan. 1 1936
for
of Prices
100
July
10 H
Ky Util jr cum pref
1st preferred.
Churngold
31% June
100
Preferred (new)..
Aug
40
40 H
com
Mar
Par
Champion Coated../.. 100
60
43%
1
Kellogg Switchboard
24
(Concluded)
41
10
Katz Drug Co com
Feb
May
18%
550
41
*
Kalamazoo Stove com
31
Feb
24
100
22 X
23
1
27%
Stocks
High
Low
Shares
27}4
Jefferson Electric Co com.*
,
High
Week's Range
Sale
for
of Prices
Price
Par
Last
Range Since Jan. 1 1936
Week's Range
Sale
Sales
Friday
Sales
Friday
Stocks (Concluded)
895
Chronicle
Cleveland Stock
Exchange-—See
905.
page
Midland Unitwd Co—
..___*
Common
'
2%
Conv prefeiTed A—
Modlne Mfg com
ey2
*
Monroe Chem Co com
45
Montg WTard & Co cl A.
7
Watling, Lerchen & Hayes
Feb
55
Jan
80
July
10%
Jan
10
49
May
52
Jan
80
142
Jan
26%
400
17
Jan
49%
25%
Muskegon Mot Spec cl A. *
Jan
3%
Mar
38%
6%
154
153
_
100
6%4
49%
Preferred
Jan
%
1
50
2%
44
*
no
%
Members
July
New York Stock
Aug
156%
26%
Detroit Stock Exchange
Buhl Building
Aug
15%
16%
450
11
Jan
16%
_*
30%
30%
10
28
Apr
33
Natl Gypsum cl A com..6
53%
650
38%
1%
JaD
65
Feb
DETROIT
May
50%
>/New York Curb Associate
/ Chicago St ock Exchange
Exchange
16%
Nachman Sprlngfilled com*
National Battery pref
10
1
Natl Pressure Cooker Co.2
13
16
.*
46
47
H
33%
36
National Leather com
National Standard
com
1
Natl Union Radio com
Noblltt-Sparks Ind com..*
North Amer Car com
*
6%
Nbrthwest Bancorp com..*
25 %
16
Aug
Jan
47
July
32%
Jan
1%
37%
July
3%
450
Jan
7%
2,800
7%
June
25%
300
15%
Jan
14
Okla Gas & El 7%
(The)
19
Apr
27%
Jan
Baldwin Rubber com__._l
Jan
3%
Feb
Briggs Mfg com..
Jan
preferred——...100
preferred
100
Quaker Oats Co—
6%
115%
Apr
Mar
4%
July
2%
5%
Apr
500
2%
Jan
6
3%
50
Mar
4% June
1% May
...»
Preferred
750
68
110
119
72%
July
103
Jan
118
July
112%
20
Jan
123
Mar
124% 126
440
115
June
140
Jan
146% 150
....100
50
142
Jan
150
July
v
6% preferred
Reliance
Mfg
v
Co
4%
to.-.-.5
com..
10
Sangamo
com
...
Signode Steel Strap
Preferred
20%
3,750
12%
10
2%
Jan
1%
Jan
11
Convertible preferred..*
General Motors com.... 10
Aug
Goebel Brewing com..... 1
Jan
Jan
26
Feb
Jan
67%
22%
July
July
10%
140
2%
Apr
14%
Mar
27
170
32%
Mar
Lakey Fdry & Mach com.l
Mich Steel Tube Prod-
100
26
26%
Aug
,
Aug
15%
Jan
30
99
Feb
105
June
20
•
79%
Jan
91
Mar
Apr
28%
31
20%
9%
1%
3%
"21%
20%
5%
*
——
li
*
Apr
35%
Jan
20%
Apr
25
Jan
Reo Motor com5
"4%
12%
Feb
Rickel (H W) com.
5%
4%
Feb
2
Jan
-.2
River Raisin Paper com..*
Timken-Det Axle com.. 10
Tivoli Brewing com.. L___ 1
United Shirt Dist com...*
Universa! Cooler A.
j—*
8%
Jan
500
2%
Mar
4
Apr
1,350
30
Apr
35
22%
%
2%
80
May
15%
May
Jan
50
16
Apr
2,150
17%
10
Mar
1,000
6%
37%
31,800
Jan
5%
Feb
24
6%
1
Jan
June
Jan
com.....
1
July
Wayne Screw Prod com..4
8%
Jan
3,385
2%
22%
2%
Jan
Feb
Jan
3,565
%
Aug
Jan
152%
7%
10%
37%
151
39%
July
1%
6%
Wolverine Tube com...
Young (L A) Sp& Wire..*
2%
7%
Jan
Jan
23
875
Mar
300
%
280
12%
9%
54%
6%
1,000
2,266
5,355
Jan
4%
Feb
Jan
4
Mar
July
72
July
20% Apr
5% June
10%
4%
15%
31%
19%
27%
8%
200
16
20"
2
Jan
July
11
Jan
741,
23
May
17%
27%
1,055
14
Apr
43
1,022
Apr
Aug
Jan
615
6
Feb
.Apr
Jan
5,095
847
Feb
Apr
15%
19%
2%
13%
27%
Apr
1%
4%
Apr
Feb
Feb
Mar
Mar
Mar
Aug
Mar
Apr
Feb
July
,3i6
Jan
442
3%
15%
July
15
Aug
Jan
Apr
22
795
6%
Jan
41% May
4% July
22%
12%
Mar
Feb
50
935
5,354
4%
580
5%
5%
20%
8%
8%
8%
4%
1%
6%
%
33%
835
46
8%
128
Mar
25
550
8
Jan
4
2,028
46
20
Woiverihe Brew com_...l
Jan
5%
11
Aug
8%
8%
7%
3%
1%
6%
%
33%
5%
20%
B
Warner Aircraft
Jan
117%
23%
3%
18
1%
3%
20%
18%
10%
4%
5%
5%
-_
Jan
16
24%
Jan
Apr
43
.5
28%
50
16
6%
32%
10%
Jan
Murray Corp corn
10
Packard Motor Car com.. *
3,450
15%
6%
Motor Wheel com/
3%
21%
5%
"15%
36%
Apr
Feb
1%
3%
Parke-Davis com..'.
850
■
Aug
19
17%
1%
3%
20%
17%
10%
2.50
Michigan Sugar com../—*
18%
7
27%
5%
"5%
1,000
33%
Wisconsin Banksharea com*
Mar //
1%
32%
17%
Zenith Radio Corp com.-*
3%
12% June
5% June
550
"33%
Wieboldt Stores Inc com.*
Williams-Oil-O-Matlc com*
1,500
3%
1
Wahl Co com
Walgreen Co common
1,850
9%
3
*
*
;
26%
17
2,900
3%
*
Convertible pref
21
6%
9%
Thompson (J R) com...25
Utah Radio Product com
850
4%
14%
7%
31%
3%
13%
21
Viking Pump Co com
Common...
"26%
Mid-West Abrasive com50c
15
2%
Kresge (S S) Co com.... 10
35
%
69%
13
Houdaille-Hershey B
Hudson Motor Car com..*
17
100
15
86%
695
7%
8
2%
Feb
Apr
Mar
865
200
68
.1
Graham-Paige com
18%
100
83%
3%
25
Util & Ind Corp.
*
Federal Mogul com
Feb
4,600
82
14
Swift <fe Co
pref.25
"15%
June
380
3
151%
4%
8%
35
37%
1%
1%
15%
15%
19
19%
*
22%
104%
82
Swift International.;
conv
Dolphin Paint B_
66
24%
104
7%
31%
Storkline Fur
Prod com....*
14
63
9% July
653
8
Hoover Ball & Bear com. 10
25%
104%
——i.—.*
Common
Steel
June
Standard Dredge—
.
Detr
3%
20%
17%
July
High
3%
Jan
46
320
4%
8%
37%
7%
May
11%
Low
1%
2,180
110
150
Detr-Mich Stove com_.__l
26%
...30
Slvyer Steel Cstgs com..
St Louis Nat Stkyds cap..*
2%
%
10%
22%
.*
South wst G&E 7% pref 100
J
Range Since Jan. 1 1936
Shares
100
"23
23
Detroit Cripple Creek.
1
Detroit Edison com...100
65%
19%
•
com.
150
19
.*
Electric Co
Schwitzer-Cummins cap.-l
250
2
12%
24%
20%
Rollins Hosiery conv pref *
Ross Gear & Tool
4%
1%
—50c
t c
"23"
Deisel-Wem-Gil com....10
Eureka Vacuum com. ..15
Raytheon Mfg—
Common
com.l
Continental Motors
15
117% 117%
21% 22
3%
2%
"22"
Detr & Cleve Nav com. 10
Apr
49%
for
Week
2,025
52%
15
Consol Paper com......10
41
Detroit Paper Prod com... 1
126
Common
10
52%
Capital City Prod com...*
Chrysler Corp com
.5
Jan
115% 116%
119
7%
2%
*
3%
65%
65 %
High
2%
9%
1
Brew com
*
32
6,800
.
Public Service of Nor 111—
Common
Auto City
2%
50
4%
3%
*
July
300
34
3%
3%
3%
3%
com.—
Corp coral
112%
250
200
1%
Low
Price
3%
34
4%
Prima Co
Process
57
Apr
1%
1%
Peabody Coal Co B com..*
Perfect Circle (The) Co..*
Pines Winterfront com...6
Potter Co
Jan
Apr
26%
26
of Prices
July
'7%
25
49
"26"
July
Par
Stocks—
Week's Range
Sale
104
23
49
109% 109%
pref. 100
Parker Pen Co com—..10
Last
10
20%
49
Sales
Friday
Jan
26%. July
20
23
100
100
compiled from official sales lists
Aug. 1 to Aug. 7, both inclusive,
28
20
Exchange
June
Northwest Util—
7% preferredPrior lien pref
Detroit Stock
Feb
Apr
%
26
6%
10%
9
23%
150
300
1,800
:
Jan
2%
Jan
July
13
1,100
%
5%
10%
Northwest Eng Co com..*
500
1%
Telephone, Randolph 5530
5
2,750
1,620
3,318
100
1,000
3,607
2,820
405
375
.
July
4%
12%
5%
7%
6%
2%
July
Jan
Jan
Jan
Jan
9%
Mar
Apr
4%
July
Jan
July
Aug
15
44%
Feb
Jan
Jan
15i6
130
7
Mar
20%
11%
12%
6%
%
125
Feb
8%
7%
Jan
July
Aug
Apr
Mar
3
11%
1%
33%
54%
Mar
Mar
July
Apr
Bonds—
16
810,000
16
Aug
16%
1,000
16
74
1927
Chicago Rys 5s ctfs... 1927
Chic City Con Rys 5s.
70
Apr
79
74'
July
Jan
LOS ANGELES
BALLINGER & CO.
Members
,
Cincinnati
UNION TRUST
Stock
BLDG.,
SECURITIES
Listed and Unlisted
Exchange
Dobbs-Crowe-Wagenseller & Durst
CINCINNATI
/■-
Specialists in Ohio Listed and Unlisted
Member Los
Angeles Stock Exchange
626 So. Spring
St.,
.LOS ANGELES
Stocks and Bonds
Wire
System- -First Boston Corporation
Los
A.T.&T. Tel. Cin. 291
Cherry 6711
Aug.
1 to Aug. 7,
Angeles Stock Exchange
both inclusive, compiled from official
Last
both inclusive, compiled from official sales lists
Aug. 1 to Aug. 7,
Last
Week's Range
Sale
Par
of Prices
Price
Low
High
Range Since Jan. 1 1936
for
Low
Amer
Industries
*
11%
22%
1%
.
Laund Mach— ..20
Amer Products common.
3%
3%
2%
2%
80c
75c
Preferred
—
footnotes see
page
24
78
186
9%
19%
1%
Jan
13%
Mar
Jan
27
Mar
B__.
—
.10
10
Broadway Dept St pref 100
8%
8%
Aug
1,500
5% May
2% May
-_„
Feb
5c
1,000
July
3
Feb
Buckeye Union Oil
June
4%
Jan
Common v t c
.1
9c
9c
9c
1,000
5%
May
8
Jan
Preferred vtc
.1
14c
14c
14c
1,000
Mar
90
May.
Byron Jackson Co —
*
California Packing Corp.*
28%
28%
28%
200
16%
39
39
39
100
31
5%
897
5%
10
50
89
3%
Jan
6%
Apr
Jan
Apr
16c
3
90
July
Jan
10
90
19
Aug
6C
90
Mar
Jan
Aug
3%
104%
4
50
5
2%
82%c
Jan
98
5%
1%
Jan
July
75C
148
8c
3%
2
200
8c
8c
com__l
82$
"800
11,000
3
100
1936
High
Low
11,300
100%
3
3
100%
3%
2%
Shares
5%
Burger Brewing pref.. ..50
for
11%
-
Range Since Jan. 1
4
.*
Prior preferred—— ...7
—8
Baldwin
.100
High
Co.... *
Warrants...
High
for
Week
of Prices
Low
Bandini Petroleum Co...l
Berkey & Gay Fur
Week
Shares
BoisaChicaOll A..
Aluminum
Price
Week's Range
Sales
Friday
Stocks—
Sale
Par
Stocks—
sales lists
Sales
Friday
Cincinnati Stock Exchange
17c
Feb
10 c June
30c
Feb
Jan
29%
July
June
39
Aug
Financial
896
(Concluded)
Week's Range
of Prices
Week
Price
Par
High
20% June
12
600
12
12%
4%
500
1126 June
300
326
1426
5334
1434
Citizen Natl T & S Bk..20
29%
29%
Claude Neon Elec Prod.
12
12
Consolidated Oil Corp..
12%
3%
1826
7626
12%
3%
18%
70%
18%
Preferred..
....
*
..
Douglas Aircraft Inc.—.
20
Co.—..5
Oil Co A
-1
Emsco Der & Eq
20
75c
70c
80c
3 3-2
2354
326
23%
3%
23%
68
68
Gen Paint Corp B
1254
Gladding McBean & Co..*
Globe Grain & Mill Co..25
16
Exeter
10
Foster & KleLser Co
General Metals Corp.
—.
Corp—10
General Motors
100
1254
900
16
700
54%
8%
1124
824
17c
926
100%
I
4%
1
526
556
1
5
1
Menasco MfgCo
Nordon Corp
Occidental Pet Corp
Olinda Land Co
Pacific Clay Products
Pacific Gas <fc Elec Co.
-
.25
25
524% preferred.
Pacific Public Service
*
*
Republic Petroleum Co.. 1
Rice Ranch Oil Co..
.1
1st preferred
.
.
Safeway Stores Inc
Samson Corp B com
105
226
25c
Jan
50c
Jan
85c
Jan
31c
1026
2626
1034
39%
29%
2726
726
2526
1126
25c
1826
1034
3126
2726
1826
5%
2026
226
200
100
100
1,800
•'
400
100
4,700
7,500
29
500
28
400
3426
Apr
5024
Jan
60
Jan
300
Jan
32
July
Jan
40
Aug
Jan
3826
July
29
July
35
130
27 26
26
Mar
109
Apr
"24
Jan
42
July
3526 June
900
47
Feb
900
7,400
11
Jan
Feb
Feb
150
Jan
2826
July
Jan
28
July
Jan
926
1024
2026
7%
424
526
44%
200
25
Jan
63c
Feb
3c June
1,600
21,100
July
22c
1,300
2324
49
1426
Apr
120
2226
July
Feb
6
.
2834
Jan
10626
1
150
49
Jan
1,100
750
54
22%
8%
I 9
49
.
Apr
45
62
22%
9
40c
Feb
Apr
28%
Corpl
Yellow Checker Cab. ..50
Jan
July
28
Western Air Express
726c
Jan
Jan
Apr
Feb
July
50
Mining—
Blk Mammoth Cons M 10c
47c
45c
48c
Calument Gold Mines. 10c
3c
3c
3c
126c
126 c
126c
6C
Imperial Development 25c
Zenda Gold Mining
Co.^.l
6c
6c
4,500
4,000
1,000
1,000
lc
6c
4c June
Jan
Jan
15c
Jan
Unlisted—
Aviation Corp (Del)
—5
Bendix Aviation Corp
5
Cities Service Co
Cord Corp
17426
5%
526
30% 3026
4%
434
426
426
...5
Kennecott Copper Corp...
348
4426
100
37
43
100
Jan
100
200
800
16
16
100
12
1226
426
300
Radio Corp of America
Radio-Keith-Or pheum
11%
0%
11
Seaboard Oil of Del...
16
12%
626
3026
726
726
4234
4726
3526
July
3
400
1026
Jan
26
1026
1226
626
4526
3326
10%
May
300
4724
34
Packard Motor Car Co..—
Warner Bros Pictures Inc.5
150
200
34
North American Co
Montgomery Ward & Co..
17726
724
3624
Jan
24% May
170
174%
5%
30%
4%
4%
44%
47%
100
-
..
..
.
.
.
.50
1726
United Gas Impt com....*
:v:.; Preferred.- _
..
.
*
Westmoreland Coal...
*
53
2926
2,070
Ji6
1
150
5
120
56
326
Jan
Jan
Jan
Feb
3,700
526
Apr
926
Feb
218
4056
Apr
4856
July
5,727
1424
1956
Feb
216
9 26
Apr
Apr
Apr
100
7 26
Jan
3I6
17
,
11136
i
Westmoreland Inc.—..
1
Jan
124
Feb
826
Apr
11326 June
15
Apr
9
July
Jan
20
Mar
July
113
Feb
Bonds—
1426
Elec & Peoples tr efts 4s '45
Phila Elec (Pa) 1st 5s..1966
...
...
CO.
H. S. EDWARDS &
/ Pittsburgh Stock Exchange
New York Curb Exchange (Associate)
Members,
j
BANK
UNION
Tel
PITTSBURGH, PA.
BLDG.,
A. T. & T. Tel. Pitb-391
Court-6800
July
May
7
1,600
Feb
Mar
Aug
Feb
Mar
Aug
July
July
13
Feb
1434
726
1624
1426
June
924 May
5% July
1524 May
9% May
100
BROADWAY, NEW YORK
120
Specialists in Pittsburgh Listed and Unlisted Stocks and Bends
Pittsburgh Stock Exchange
Aug. 1 to Aug. 7, both inclusive,
Jan
Apr
Apr
Feb
compiled from official sales lists
Sales
Friday
Last
Par
Stocks—
of Prices
Price
Low
4926
Carnegie Metals Co
1
Central Ohio Steel Prod..*
(D L) Candy Co..*
Columbia Gas & Elec
*
22
*
......
"11%
Electric
20
9
*
Products
Follansbee
14
"21%
Dqquesne Brewing com..5
pref. .100
Bros
*
5
Fuel Supply...
Brewing pref.*
Pittsburgh Plate Glass..25
Pittsburgh Screw & Bolt.*
Pittsburgh Steel Fdry
*
Co
10%
5
1
:
Co...
Engine & Fdry.
Alloy
Victor Brewing
Steel
Jan
Apr
Jan
10
Jan
1426
Mar
1
Apr
254
Mar
525
97
l
3,183
1,000
53
258
41
5
692
4
545
26
295
25
Apr
30
150
9826
Jan
736 May
140
12824 13056
1036
956
824
1026
1524
1524
124
154
1826 19
240
Jan
Jan
15
Apr
•
Jan
Aug
Apr
2
Jan
1
70
Apr
May
Jan
1,575
Feb
1124
1026
1626
Jan
1256
75
754
554
July
3
2,024
Aug
53
Jan
456
1%
Feb
20
June
Mar
3c
1,000
2c
Mar
4c
Jan
336
555
326
Jan
Apr
524
Jan
26
Jan
2226 May
26 Aug
40
Mar
31
350
21
37%
815
%
20
24
,
Feb
254
44
Aug
1.00
2,307
60c
Jan
1.00
July
3826 4136
13856 14126
247
3436
Jan
Mar
46
97
Jan
4726
141%
101
137
100
July
10626
Jan
556
90c
95c
1
Westinghouse Air Brake.*
Westingh Elec & Mfg. .50
225
44
43
44
*
Co
Mar
Jan
326
2354
.3226
%
*
United States Glass Co..25
Vanadium
July
154
4154
10626
31
3c
Shamrock Oil & Gas.....*
United
1026
40
185
1
Standard Steel Spring
July
July
.
19
5
Mining Co
Mfg
July
15
1
1
Pittsburgh
Ruud
1526
120
Jan
2356
Jan
3
1,033
Mar
Apr
Feb
Jan
Jan
Apr
756
738
3626 3726
10526 106
1326
1354"
Nat'l Fireproof pref—.100
Renner
6
Mar
Jan
14
581
110
*
Plymouth Oil Co.—
14
Feb
July
25%
105%
Koppers Gas & Coke pf 100
Mountain
July
July
5226
426
326
Harb-Walker Refrac com *
McKinney Mfg Co
Mesta Machine Co
610
400
1
1
Fort Pittsburgh Brewing. 1
Lone Star Gas Co
9
4,700
424
2256
1424
926
22%
July
326 June
875
11
4%
Clark
2
38%
6226
2026
454
27%
47%
1354
403
3
High
Low
55
3326
5126
1626
1526
256
1026
Biaw-Knox Co
Week
Shares
High
3226
33%
Allegheny Steel com
*
Armstrong Cork Co com.*
Range Since Jan. 1 1936
for
Week's Range
Sale
San Toy
Amer Tel & Tel Co
-
July
Jan
75c
10726 10726
42
39%
37% 3826
13
1334
22%
22%
9%
-
-
Aug
326
5426
2826
1
2526
1334
Jan
Jan
40
Wellington Oil Co
Jan
Feb
40
Universal Cons Oil Co.. 10
_
-
July
8
1%
40
Union Oil of California..25
Mar
50c
25
160
Feb
Mar
150
29%
32%
150
Union Traction..
United Corp com
Preferred.
Mar
600
53%
29%
31%
...*
2626 Aug
1126 June
4026 July
2926 Aug
2726 Aug
60c
32
Union Bank & Tr Co...50
14
Jan
July
JUly
10c
100
29
53%
29%
Transamerlca Corp
Tonopah Mining..
5726 c July
Jan
8
300
3,600
25
37%
13%
3824
Feb
Sou Calif Edison Co
*
35
'16
.
Feb
8c
Signal Oil & Gas A com..*
Standard Oil of Calif
3324
Mar
*
Tonopah-Belmont Devel.l
Paeon y-Palmyra Bridge.
Jan
1,000
2
42
Mar
Mar
3,110
4,000
45
100
Mar
9026
Apr
Jan
13c
45
Southern Pacific Co
28c
42C
19c
28
75
Jan
Jan
72>6c
1024
39%
29%
24%
7%
2526
9%
28%
Jan
7126
*
—
July
10%
107%
57
156
Jan
424
624
626
Jan
July
5
93
8126
6224
Feb
Jan
12c
100
19
6224
7926
1724
Scott Paper
Feb
29c
11626
226
60C
6% preferred........25
524% preferred
25
95c
Apr
3026
1626
61
*
Salt Dome Oil Corp......1
Feb
July
1,500
29
Sou Counties Gas 6% pflOO
16c
1126
8,600
226
45%
Orig preferred
110
Feb
12c
60c
Security-First Natl Bk__20
10
1,000
Apr
Mar
July
5%
5%
2
*
:
S7,000
1.50
31
8c
3,100
24
29
6% preferred ann.
10
Sec Co units of ben int...*
1426
11124 11124
July
c
13c
23c
*
10826
37c
•289
40c
11
.
101
0% June
900
426
7224
1056
25%
10%
39%
29%
27%
7%
25%
Pacific Indemnity Co—10
11124 11226
12
1126
826
836
Jan
12c
13c
10
1756
Jan
5%
4%
40c
..
Preferred D
Jan
May
4
7226 c
Pacific Finance Corp... 10
4856
9c
8,400
16,500
18c
10
824
147 24
12% June
1926 Mar
1326
Feb
1024 July
2426 Apr
Jan
26
3,000
107
100
12c
-1
.1
Oceanic Oil Co
38c
*
...*
7226
Aug
46c
43c
15c
9%
1
%
426
824
Apr
1826
200
.
JUly
1,830
1
Apr
7 26
July
1626 May
426
30
426
Hioh
Low
Sun Oil Co.
Jan
-■
436
Reo Motor Car Co
1 1936
Week
Mar
Apr
Feb
Jan
Feb
2024
Apr
8726 c July
426 May
2326 June
July
600
lie
lie
38c
El 6% pflOO
Los Ang Industries Inc...2
Log Ang Invest Co
-.10
Feb
Aug
9
200
31
Airpl & Mot Corp 1
Los Ang Gas&
Feb
May
900
22%
8724c
31
Lincoln Petroleum Corp..l
Lockheed Aircraft Corp.. 1
100
8%
10
80c
lie.
Klnner
Jan
3%
68
22
31
May
20c
'215
Shares
Price
Par
79
Jan
23
—10c
Jade Oil Co
v
100
10
10
... ..
1,100
14,400
1526
8%
2256
8726c
*
Holly Development Co—1
Honolulu Oil Corp.
100
for
of Prices
Low
High
3226
1626
1524
526
1924
Apr
11
8J4
—*
Golden State Co.
Hancock Oil A com
600
19
70%
Stocks {Concluded)
High
500
29 26
Consolidated Steel com..*
Low
Shares
Week's Range
Sale
for
Sale
Range Since Jan.
Last
Range Since Jan. 1 1936
Last
Low
Sales
Friday
Sales
Friday
Stocks
Aug. 8, 1936
Chronicle
Jan
July
Unlisted—
Lone Star Gas 6% pref. 100
ST.
Established 1874
10124
426
456
Pennroad Corp v t C——
29
326
.
Mar
Feb
LOUIS MARKETS
I. M. SIMON &CO.
DeHaven & Townsend
Business Established 1874
Enquiries Invited
Members
all
on
Mid-Weatern and Southern Securitiea
New York Stock Exchange
Philadelphia Stock Exchange
MEMBERS
•
NEW YORK
1415 Walnut Street
30 Broad Street
Stock
Louis
St.
(Associate)
of
Trade
York Curb
Chicago
Board
New York Stock Exchange
PHILADELPHIA
New
Exchange
315 North Fourth St., St.
Louis, Mo.
Telephone Central 3350
Philadelphia Stock Exchange
Aug. 1 to Aug. 7, both inclusive, compiled from
Last
Sale
Par
Stocks—
Price
official sales lists
Sales
Friday
Week's Range
Range Since Jan. 1 1936
for
High
Last
High
Low
Shares
Sale
American Stores..
American Tel & Tel
100
July
Apr
177
2 54
July
319
26
669
149
27 26
Jan
36
56
2826
17026 17534
27%
656
Feb
Brown Shoe com
Aug
Burkart com new
"3%
Bankers Securities pref..50
Bell Tel Co. of Pa pref—100
310
2154
Jan
12524
124
12624
430
11524
Jan
120%
Aug
1426
13
1524
1,832
926
Jan
1556
May
Budd
(EG) Mfg Co
Preferred
2726
105
100
"l0%
Budd Wheel Co
5
Chrysler Corp
Curtis Pub Co common..*
Electric Storage BatterylOO
General Asphalt
10
General Motors
2426
Lehigh Coal & Navigation*
50
9
1424
.
....
*
*
Pennroad Corp vtc
50
50
Pennsylvania RR
Penna Salt Mfg
70
35
826
1324
10
July
Griesedieck West Brew
*
Apr
3854
July
Jan
11054
Aug
Hussmann-Ligonier
1156
Jan
1456
Aug
Johnson-S S Shoe com
Laclede-Christy Clay com*
115
56
Jan
826
156
Jan
8
Mar
584
926
Feb
436
426
2,984
3 26
Jan
3524
37 26
2,521
Apr
39
114
28%
11324
Feb
113
104
112
Apr
114
1,103
33 26
Mo Portland Cem com..25
131
July
Natl Bearing Metals com.*
117
May
Natl Candy com
*
1124
Natl Oats
*
25
Jan
3524
Feb
25
50
Jan
1224
Mar
7% preferred
.—50
Phila & Rd Coal & Iron.
926
124
1026
239
Jan
28 26
May
25
8%
126
July
326
Jan
1354
1324
172
1026
Jan
1926
May
Philadelphia Traction. ..50
page
897
3426
3526
25
1
Aug
Jan
456
*
July
20
254
180
2
June
33
12%
364
656
954
3
Aug
Aug
July
Feb
July
Jan
1426
Jan
15
50c
Jan
Jan
July
124
5326
1724
1224
3026
July
61
July
1726
July
June
50
46
Jan
47
July
1124
1954
1126
453
926
Feb
15
May
25
458
1326
Jan
25
Aug
124
500
49
1026
16
25
30
4726
1154
626
2226
60
15
52
10%
65
1326
100
15
9
9
15
926
25
526
526
50
Jan
Jan
June
June
25
112
100
Aug
4926
1326
1026
2326
112
2d preferred..
Aug
926
17
*
1st preferred
Jan
Mar
125
18
100
Scruggs-V B D Gds com.25
1st preferred
100
Rice-Stix Dry Gds com
Feb
46
McQuay-Norris com
Feb
com
805
654
3
3026
1626
1026
25
Feb
Mar
5
Jan
Apr
926
624
8026
59
*
20
926
95
Aug
12
124
556
226
see
Hydraulic Pr Brk com. 100
856
1724
226
1126
35
12
*
1426
2156
footnote*
856
17%
254
1126
Laclede Steel com
40
nor
com
Preferred..
120
Feb
275
Rapid Transit
100
preferred
10526
626
3426
Phila Insulated Wire
Phila
1st
Hamilton-Brwn Shoe com *
377
23
25
120
72 26
6 24
Phila Elec Pow pref
Apr
Jau
324
July
116
1
234
95
5
FaLstaff Brew com
12 36
Jan
120
Mar
226
1124
57
120
34 26
Mar
77
22
Columbia Brew com
7
Feb
Aug
July
July
Jan
July
17
2126
856
Aug
32
170
Jan
0%
2226
35
04%
2226
3254
22
5556
388
135
May
21
July
1,074
High
Low
50
Ely & Walk D Gds com.25
42%
924
.94
88
526
8026
Apr
1426
2226
3226
5126
2226
3226
9454
654
24%
Jan
51
526
8026
June
30
Week
Shares
526
May
July
54
High
"654"
5
Apr
1426
12456
138
of Prices
Low
Range Since Jan. 1 1936
for
Dr Peppercorn.
Chic & Sou Airlines pref. 10
11226
Jan
667
"3226"
Coca-Cola Bottling com__1
Jan
17
100
*
Apr
305
5126
1
__—.
856
86
2,562
Preferred— —liiL.
*
85 26
203
12924 13024
1224
424
37
11324
Phila Elec of Pa $5 pref—
2426
28
675
28
236
.....25
Natl Power & Light
2324
275
International Shoe com..*
I
Mitten Bank Sec Corp..25
Preferred.
110
11024 11024
...100
Lehigh Valley..
28
9 26
1026
11626 11926
20
1926
48
4524
35
(NY)com*
Preferred
324
67 24
10
Horn & Hardart
226
Price
Week's Range
Feb
*
Baldwin Locomotive
Par
Stocks—■
26
official sales lists
Sales
Friday
Week
of Prices
Low
St. Louis Stock Exchange
Aug. 1 to Aug. 7, both inclusive, compiled from
112
8
Aug
3% May
1026
11726
526
Aug
Mar
Feb
July
Feb
Jan
Jan
Aug
60
60
10
52
Feb
60
Aug
46
46
34
40
Apr
46
Aug
Volume
Financial
143
Chronicle
897
hTc
Friday
Sales
Last
Stocks (Concluded)
Par
Scullin Steel pref
Week's Range
of Prices
Week
Price
Low
*
AH
44%
SecuritiesInvcom__*
Range Since Jan. 1 1936
Low
5
260
45
45
1%
38%
Last
Stocks (Concluded)
High
5
Transamerica Corp.
Aug
45
Mar
Feb
Par
Aug
Week's Range
Sale
Shares
High
Sales
Friday
for
Sale
of Prices
Low
High
Price
*
13%
25
13
Stix Baer & Fuller
Wagner Electric
125
12 5%
*
com
"34 %
com._, 15
123
98
125%
10%
10%
34% 34%
12
Jan
9%
610
127%
10%
Mar
28%
35
Apr
32
31
Bonds—
July
20%
20%
22%
22%
29%
49
49
29%
29%
29
......
59%
59%
36
37
48
May
Jan
50
July
.16
Jan
34
L.50
29
Aug
30
Apr
Apr
29
Jan
Dean Witter & Co.
York
Stock
Chicago
Board
Chicago
Stock
New
Los Angeles
Oakland
Beverly Hilla
Sacramento
Portland
Honolulu
Jan
31%
15 %
Jan
20%
7 %
Jan
28
50
Feb
Apr
July
50% June
140
59%
26%
23%
2,638
MONTGOMERY
SAN
Jan
38
July
Jan
51
July
Aug
STREET
FRANCISCO
Members: New York Stock Exchange—San Francisco Stock
(Asso.)
York Cotton Exchange
New
Exchange—San
Honolulu
Exchange,
Stock
Francisco
Curb
Exchange—Chicago
Board of Trade—New York Curb Exchange (Associate)
Coffee A Sugar Ex.
Commodity
Fresno
(Since 1880)
of
Trade
Exchange
York Curb Ex.
New York
Seattle
Tacoma
Stockton
•
23
Aug
Aug
San Francisco CurbExchange
PRIVATE LEASED WIRES
New York
133
Exchange
San Francisco StockExchange
Municipal and Corporation Bonds
San Francisco
22%
STRASSBURGER & CO.
Members
New
Jan
49%
34
22
27
26%
Feb
Apr
59%
36%
49
$1,000
1,000
3,000
1,000
29%
tScullin Steel 6s.....1941
United Rys 4s cd
City and Sub 5s c d.__._.
10
230
20%
23%
!
P S 5s... 1934
21
14%
28*%
32
V"...1
fCity & Sub
Apr
2,325
22%
preferred
High
11
2,647
2,212
23
21%
com.
Low
30,008
325
22%
22
»__5
7%
22%
.25
.25
Union Sugar Co
Mar
Aug
Shares
13%
.10
South wstn Bell Tel pref 100
Range Since Jan. 1 1936
for
Week
Direct Private Wire
Inc.
Exchange
San Francisco Curb Exchange
San
Aug. 1
Francisco Stock
to
Exchange
Aug. 7, both inclusive, compiled from official sales lists
Sales
Friday
Aug. 1 to Aug. 7, both inclusive, compiled from official sales lists
Last
Week's
Sale
Friday
Last
Week's
Sale
Stocks—
Par
Alaska-Juneau
Gold
10
Bank of Calif N A.....100
200
28
22
22
6%
1%
20
...
6
28%
*
20
Calif Engels Copper
10
Calif Cotton Mills com. 100
5%
1%
30
,
Calif Packing Corp
Calif Water Serv pref.. 100
30
42%
104%
*
6% IstpflOO
104
Consol Aircraft Corp..... 1
*
20%
29%
Crown-Willamette pref
*
Crown Zellerbach v t c.._*
109%
9%
Cons Chem Indus A
Preferred A.
______
*
Di Giorgio Fruit com
High
Shares
14%
21%
5%
8,350
13%
1,470
17
6%
28%
660
Emsco Derrick & Equip..5
Ewa Plantation
*
20
17%
18%
63%
31
63%
31
358
10
4
37
com
10
37
16
3%
22%
.15%
14
Mar
Apr
x(lenera! Metals.......
21
Apr |
63%
Aug
June
36
112
920
37
47%
Preferred
Feb
4
Aug
Aug
37
Aug
31%
17%
17%
4%
7%
2%
17%
"4%
6,470
7%
2,367
1,020
14%
8%
14%
Apr
18
3,486
420
26
1,319
20
815
44%
21%
100
16
'
*_»
Hi-
Hutch Sugar Plant..... 15
Island Pine Co com
i.20
7
23
23
13%
Letourneaul
12%
39%
U%
41%
11%
*
3
B...
•3
10%
Libby McNeill & L coin..*
Lockheed Aircraft..
9%
Magnavox Co Ltd.....2%
2%
10
19%
5%%, pf 100
83%
13%
42
July
Jan
June
1%
5%
July
21%
June
6%
Mar
.
July
4,135
25
June
126
11
Apr
11%
3
200
2% May
6% June
6% May
105% Aug.
Apr
5%
1%
Jan
3,155
10
2
_*
Jan
10
417
105% 107
8
8%
2
2%
2%
2%
19%
19%
8%
*
Apr
375
23
10%
107
100
July
145
705
2,550
-
7,
639
2
2.251
July
■_
_
445
12
3.50
230
2.00
1.25
1,720
1.00
46c
46c
100
46c
Aug
90C
.....
V%
35%
Aug
54
Feb
zKinner
_
_
32
July
17%
3%
7%
27%
13%
July
zMenasco Mfg Co
July
Montgomery Ward.,.
July
Mountain City Copper
North American Col..
42
June
Aug
Aug
.
_
z
Jan
Olaa Sugar
11
25%
'107
45%
22%
23%
525
17
Jan
26%
10
100
Aug
100
Aug
10
69
Juue
67
Feb
21
Apr
21%
85c
.....
Preferred...
Feb
i:
Pacific Western
z
22%
23%
July
Packard Motors......
19%
93
28
Jan
33%
Feb
32%,
Jan
Riverside Cement A
Pacific Can
1st preferred.
25
preferred...... 25
5%%
Pacific Lighting
6%
preferred
Preferred
32%
29
29%
1,129
55%
55%
56%
388
105%
106%
106
7%
*
25%
39%
7%
657
930
2,400
1.00 May
2.95
5
12% May
19
50c
48c
55c
4,645
22c
1
3.85
3.50
3.90
8,019
1
40c
40c
44c
5,945
_
14%
5%
47%
45
40%
105
68
145
3
2
97%
Feb
Aug
Jan
80%
34%
7%
23%
104%
8,374
24
220
106
40
106
105
San Joaq L&P 7 % pr pf 100
118%
118% 118%
6% prior pref
.100
Schlesinger & Sons (B F)—
110
110
Preferred..
Sound view
1
8
100
Pulp
Co
:
1
.
121%
63
5
3%
Rights................
8
18%
1
Mar
Feb
Jan
91%
Jan
41
1%
29%
Jan
110
113
Mar
121
104
Jan
112
500
%
Jan
30
2%
May
15%
Apr
42
5
115
4,930
42
Jan
Jan
19,073
%
964
23%
July
1%
Aug
63
3%
Aug
820
2
May
3%
Jan
1%
259
1%
May
2%
Jan
8%
38
Tide Water Assoc Oil com *
6% preferred
...lOO
2%
Jan
17
105
8%
8%
25
6%
37%
38%
3,078
35%
June
160
2%
June
14%
Jan
3
17%
8
July
17%
22%
July
July
Jan
2.50
Aug
3.15 June
10
5,517
Aug
14
Mar
Apr
6%
Feb
4.00
4.00
4.00
490
3.10
Apr
5.00
May
45
45
90
41
Feb
50
Mar
13
May
14%
10%
6%
2%
11%
100
1.600
18
Feb
Jan
12%
Feb
14%
Jan
Apr
9%
Feb
Apr
2%
Jan
9
695
Apr
1%
350
11%
5%
110
10%
Jan
13%
Mar
Jan
49
July
6%
10
100
45
65
4.00
45
45
32
5.50
Apr
50
54
Mar
55
Aug
40%
235
31
May
40%
31
32%
962
24%
Feb
32%
Aug
July
28%
28%
192
25%
Feb
28%
Aug
28%
28%
113
27%
Mar
28%
July
50%
51
100
37
Jan
52%
Feb
16%
16%
10
15%
July
16%
Mar
1.40
3,550
1.05
July
4.00
.
32%
4.00
July
3
17%
104% 105
—....
_..
_..
1.40
1.30
57
57
50
43c
43c
4.40
Feb
25
200
4.25
2.10 June
57
.5
Jan
55c
900
3.10 June
4.50
12
390
10%
12
12
_......
12%
300
9
% May
17
17
25
15
Jan
12
17
.
25c
May
Aug
Feb.
Apr
July
14%
Feb
20
Jan
No par value,
Cash sale—Not included In range for year,
c Cash
sale, x Ex-dlvldend
CURRENT
»
Ex-rlghts. z Listed
t In default,
—Schroder Rockefeller &
603
,
190
101
Jan
Jan
Co.,
NOTICES
Inc.,
announce
the opening of offices at
42
48 Wall St., New York, to engage in the investment banking business.
—C.
9
has been admitted
as
a
special partner in the
Exchange firm of Auchincloss, Parker & Redpath.
-—Peter P. McDermott & Co., 39
Aug
Mai
47%
4%
Feb
19
Feb
106%
Russell MacGregor
New York Stock
a
Feb
Mar
Broadway, New York, have prepared
bulletin discussing Niagara Hudson Power Corp. common stock.
"
—
*
6%
150
Aug
3%
*
54c
Jan
June
21c
45
15
t Company in bankruptcy, receivership or reorganization.
Aug
1%
Calif
800
Apr
July
3
Water
39c
35c
*
Feb
8
19%
121%
41
Standard Oil of
July
Feb
580
:
_:
1
July
1%
Spring Valley
41
Feb
5
3
Thomas-Alec Corp A
Jan
r
Feb
42
•__*
27%
3%
Warner Bros Pictures
Feb
Apr
8
3%
_•
West Coast Life Ins
July
Co...100
Pacific
B
200
200
.
Apr
13%
So Pac Golden Gate A...*
Southern
Mar
40%
Feb
June
19
63
3?7
24 <
5
110
121% 121%
54
10%
4,689
Victor Equipment. ..c...
Preferred
—5
z
170
18%
i
..25
zTexas Consol • Oil.
105%
37%
24
Aug.
July
37%
11
25%
Apr
101%
87%
*
Aug
z
11
*
28%
Jan
5%
Title Guaranty...........
37%
100
8%
Apr
Sou Calif Edison
.......
United States Pete.
Republic
Preferred
Jan
28%
7%
July
.
Feb
Rainier Pulp & Paper A..*
Common
4.10
10
200
July
..
Apr
120
Shell Union Oil com
1,460
8%
11%
130
89
100
Aug
July
10%
•
152
89
Preferred
47%
7%
1%
Jan
Jan
24
Jan
33%
6%
Jan
July
1
36%
4%
_
119
4%
com
Feb
310
11
_
139%
16%
Bros
Apr
Mar
14%
_
Standard Brands.
75
Roos
20c
35
5%
.
_
July
215
9%
Jan
8%
40%
I4>.
.20
Mar
5%
20%
....100
Mar
6.50
July
Jap
104% 105%
Petroleum
Feb
10c
.','13
7%
5%%
pref..........25
6%
pref
i
25
So Pac Gold Gate 6 % pf 100
19
6%
July
95c
Jan
39
18%
104%
5%
4.06
July
July
362
3
Jan
37c
2.65
Shasta Water
23
May
83%
.
8,200
55
8%
20
3
1.60
480
55
107%
1,611
5%
Feb
5%
47%
Security First Natl Bk.___
Jan
25%
125%
20%
4.85
Schumacher Wall Board..*
Jan
124
*
75c
1,000
33
Mar
4%
....*
5%
28
17%
165
150% 150%
83
83%
Pig'n Whistle pref
Ry Equip & Rlty com..*
Feb
Feb
Jan
33%
...
40%
32%
29%
58%
Jan
0%
Apr
Jan
3,491
124
Preferred..'.
Jan
14 c
14c
30
July
8
150%
25%
Feb
,
18
50
104%
.100
com
31
29%
26%
1,683
.100
preferred.
Paraffine Cos
20%
29%
(non-votirig). *
Pacific Tel & Tel
6%
_
2,665
32%
*
•
21
July
July
39%
♦
com....*
Pac Pub Serv (n-v) com.
13%
21%
....
Pacific Gas & Elec com.25
6%
200
14%
21%
39%
32%
Jan
6%
Santa Cruz Ptld Cement.50
14%
3.15
July
July
1.40
Richfield Oil pref.....
14%
Apr
16%
22%
12%
....100
23
.
1.55
Jan
4%
3%
21%
Oliver United Filters A..*
__.
Feb
4.50
Feb
31
Pac Amer Fisheries..
50c
25
2.85
30%
Jan
615
2.50
30%
June
135
85c
15%
10
Mar
12%
Apr
21%
2.85
June
110
Aug
84c
6
1.25
Aug
15%
10
14
1,284
63%
zPacific Coast Agri......_
Occidental Ins Co_____-10
7
63%
21%
Pacific Clay Pioducts.....
1,367
16%
100
100
Pacific Eastern Corp......
Pac Portland Cement. .100
Jan
15
6%
Mar
Jan
Apr
Jan
14%
16%
Mar
May
107
Feb
15
16%
Aug
9%
17
Radio Corp (Del)
Radio-Kelt h-Orpheuin
..15
89
Jan
38
24%
10
11%
116%
Jan
....
400
June
4%
Jau
July
Jan
July
Paahau Sugar...
24%
72
1,051
15%° 15%
13
Aug
130
7%
2.50
Jan
105
35c
84
22%
89
7
65c
1.25
1
.......
Jan
645
200
Feb
Aug
20
O'Connor-Moffatt
Jan
June
7
2.50
17
100
Occidental Pete....
16%
5%
19%
10%
B
2.50
Aug
12%
North American Aviation..
Oahu Sugar
.20
65%
•
1.75
Jan
22%
.1
.
^
20
10
1%
July
45%
Lincoln Petroleum....... 1
M J & M & M Oil
1,635
No Amer Oil Cons.!
Feb
Jan
1.50
45%
1
_
AirpI & Motor..
11%
Aug
7%
65c
15
107
1
_.....
83%
•
July
796
17
Jan
63c
Apr
10%
11
No Amer Inv
1.40 May
45%
24%
...
83%
Natomas Co
Aug
4:50
Feb
1,125
89
~
_
20
zlnternational Cinema
Preferred....
3
18%
Apr
90C
'
Jan
18
May
4%
220
Jan
Mar
1.25
17
July
85
75c
4%
17
I' International Tel & Tel
Italo Petroleum. J........ 1
Apr
11%
July
18%
'4%
20
....
Idaho-Maryland.
Apr
8%
3.25
46c
..
Honokaa Sugar Co.
!
Mar
17
zHolly Development..... 1
Feb
7%
9%
1.25
.
General Electric.......
Mar
Jan
Jan
Great West El-Chem.... 20
June
July
4%
6%
Jan
5% May
52
Goodyear Tire pref.......
May
Mar
3.50
J .5
Fibreboard Prod pref. .100
Feb
30
45
com.
Electric Bond & Share.
Aug
32%
3%
29%
pref*
July
419
37
2d
30%
18%
97
7%
195
2.50
75
150
Feb
18
Columbia River Packers
23%
530
45
Marchant Cal Mch
Mar
Jan
Jan
14%
Feb
57% June
5%
20
81%
Solvent...i_.
Aug
619
29%
B...
Commercial
22
135
45
10
Honolulu Oil Corp Ltd...*
Hudson Motors
L A Gas & Elec pref
July
;■
20
50
Curtiss-Wright Corp..... 1
1,355
1,785
1,320
Jan
5%
14
Jan
1.25
Crown-Williamette
17,558
2,290
14%
75c June
Jan
80%
-
.1
July
Jan
Mar
9
no
.....
Claude Neon Lights
Coen Go's A
Jan
Feb
July
Pineapple..._r5
Lyons-Magnus Inc A
Feb
15%
10%
25
170
1,965
;i_
105
16%
34%
Langendorf Utd Bak A._
Central Eureka.
Cities Service...
Apr
660
Jan
5%
1<
105
10
Preferred
78%
106%
23%
31%
110%
10%
.....
Apr
17
com
Jan
zCardinai Gold
Apr
11%
Hunt Bros A
June
13%
16%
12%
39c
7%
7%
zCallf Art Tile A.........
ZB._
Aug
105
91
35
Home F & M Ins Co
Feb
43
Jan
10
Feb
1,900
10
.....
Bubker Hill-Sullivan
177%
70c
5%
1
Feb
June
100% June
15% July
....
120
*
*
_....
Hale Bros Stores Inc..
45
_.
Feb
Apr
150
75c
7%
3
.
125
-
High
Jan
68c
5%
7%
91%
16
11%
17%
35%
Golden State Co Ltd
Jan
1%
|
Gladding-McBean
Hawaiian
55
120
100% 101
34% "34%.
4
3%
100%
34%
Gen Paint Corp A com...*
Bolsa-Chica A
30%
99%
25
31
Foster & Kleiser
Mar
7
Jan
Jan
4,081
18
Fireman's Fund Indem__10
Aviation Corp.
388
35c
13%
Arkansas Natural Gas A
Aug
Bancamerica-Blair
Apr
Emporium Capwell Corp
Low
100
171% 175
12
Mar
25
9,381
75
Range Since Jan. 1 1936
for
Shares
40c
16
July
July
7%
100
12
30
4%
%
849
23%
High
40c
16%
22%
100
24%
18%
20%
63%
Jan
Jan
355
11%
51%
200
25
Anglo National Corp...
Argonaut Mining........5
Jan
Feb
Jan
ioy%
22
17%
22%
5%
July
July
13%
Fireman's Fund Insur...25
July
29
57
Food Mach Corp com... 10
Jan
Apr
6
207
24%
.
Low
69c
15%
55
30
Price
American Toll Bridge
1
American Power & Light..
21
945
6%
1%
July
9
9%
104% 105
104
104%
104
Alaska-Treadwell
American Tel & Tel
High
187
1,000
22
10
.
3%
65
S3 preferred.
.^..100
Eldorado Oil Works.....+♦
.
Low
2.250
200
Par
Week
Range Since Jan. 1 1936
545
109
104
*
_
Preferred B.__
for
Week
39% 43
104% 104%
75
73%
103% 104
20%
20%
29%
29%
75
Caterpillar Tractor..
Cst Cos G & E
5%
6
Byron Jackson Co
_
14%
21
200
Bish OU-..............
Calamba Sugar com
7 % preferred
Low
14%
21%
5%
Anglo Calif Nat Bk of S F20
Assoc Insur Fund Inc.-.IO
Range
of Prices
Price
Stocks-
Sales
Range
of Prices
James
Talcott,
Inc.,
has been appointed
factor
for A1
New York City, manufacturers of toys and importers of rugs.
—Reichart,
pared
an
De Witt & Co., Inc.,
analysis of Famise'Corp.,
Solins,
Inc.
f
150 Broadway, New York, has pre¬
common
stock, Class A
Aug. 8,
Financial Chronicle
898
1936
Canadian Markets
LISTED
UNLISTED
AND
Prov ol British
Jan
3 1937
6b
Oct
1 1942
6s
Sept
16 1943
93
95
6s
May
1 1959
122
1 1953
91
4a........June
11962
1085* 1095*
115
116
98
995*
45*8.
—
...June 16 1936 %
15 1965
Jan
45*8
Province of Manitoba—
Mar
2 1950
4s
Feb
1 1958
109
45*8
May
1 1961
1145* 1155*
.102
104
15 1960
112
1135*
15 1961
111
113
5s
55*8
Nov
110
1115*
45*8..
Oct
1125* 113 5*
June 15 1943
45*8
Apr
43*8......Apr
Par
(Concluded)
Canadian Wineries--
-
-
Low
Price
Range Since Jan. 1 1936
for
OJ JrTlCPS
XV00V
\v Ctn,
High
High
Low
Shares
pref..—-100
55*
110
Prov of Saskatchewan—
Cosmos.
*
100
-
89
93
Crow's Nest
15 1946
90
92
Distillers-Seagrams.
11951
86
875*
Dominion Coal pref
1023*
July
Aug
Apr
83*
18?*
Mar
May
57?*
May
Jan
2053*
243*
295
15?*
57 5*
56 5*
565*
540
51
128
189
203
202
203
140
235*
245*
49
49
10
215*
23
3,775
185*
1,575
14
5%
825
4
95*
1,307
Jan
183*
18
24
Feb
June
5?*
101
185*
18
18
3?*
:
180
6
55*
July
2?*
55
1015* 1015*
1015*
*
Consolidated Bakeries...»
Consolidated Smelters. .25
Consume rs Gas
100
Carnation Co
100
25*
25*
-*
-
Cockshutt
45*8
101
99
June
Sale
Stocks
Week's Range
123
Province of Quebeo—
16 1954
6e
....Dec
2 1959
Prov of New Brunswick—
6a_
Last
1015* 1025*
1125* 113 5*
1185* 119!*
89
Sales
Friday
Ask
12 1949
Oct
4348
65*8
66
Columbia—
July
6a
66
/03
1 1966
Oct
4H8
Bid
/64
1 1948
Jan
6s
Province of Ontario—
Ask
Bid
Exchange
Toronto Stock
Provincial and Municipal Issues
Province ol Alberta—
,173*
56
Apr
343*
Jan
May
183*
Aug
1185*
117
"22 5*
185*
55*
*
95*
8
May
*
12
13
210
10
Mar
Preferred.......----100
Mar
*
Dominion Stores..-.
6s
15 1952
1 1960
Sept
25
Eastern Steel Prod
45*8
100
100
10
86
Jan
55*
9
Apr
Aug
Apr
30
Dominion Steel & Coal B 25
Province of Nova Scotia—
Feb
8
May
J*
June
Feb
113*
Feb
13?*
May
101
July
■
—*
—*
Fanny Farmer
Canadian
205*
Ford A...
Fros t preferred-
Wood,
.100
.
Bond*
Great West Saddlery
75*
35*
Hinde <fe Dauch
&
New York
Inc.
*
Hunts
1015*
.*
515*
Internatl Nickel com
Kelvinator...*
v":
45*s
Sept
1 1946
6s...
Sept
5s
Dec
1 1954
Deo
45*8
July
1 1960
debentures.
15 1942
16 1944
..July
1 1944
45*8
6s.
104 3*
105
1085* 108J*
1045*
103 5*
1
1956
1
45*s... ....Feb
July
45*s...
1957
5a
....July
1 1969
68
....Oct
1 1969
....Feb
1 1970
11946
1275* 1285*
1 1962
Jan
4s...
Jan
3s
1 1962
109
1015* 1025*
1205* 121
Massey-Harris com
Last
Price
of Prices
High
1.90
6% preferred
.100
1 1936
High
Low
Beauharnola Power
*
Bell TelephoneBlue Ribbon.....
.100
*
Brewers & Distillers
1.
♦
•
945
65*
Jan
July
15
105
107
5
35
35*
150
222
35*
71
July
July
Jan
215*
145*
Canadian Canners 1st
Jan
155*
65*
155*
245*
110
13
165*
2,287
65*
110
50
185*
Mar
Jan
274*
Apr
285* May
325*
33
Jan
43
June
50
37 54
565
4
5*
60
475*
Aug
July
Jan
384
6
Jan
8
Feb
65*
65*
77
77 5*
27
27
88
885*
80
Jan
81
July
Mar
27
Aug
May
2
135
15*
Apr
75*
710
65*
June
14
3
44
45*
Ry.._.25
90
58
235*
75*
65*
100
75*
155*
3
455*
5
101
:
135
2
Apr
4
40
July
May
57
4
8U
845
1,740
195*
1,080
47 5*
160
65*
7
1,620
13
60
125*
125*
26
26
145*
60
75*
185*
12
Feb
35*
15
25
455*
12
9
93
105
75*
85*
12
Cndn WallpaperB
39
100
2
Cndn Industrial Alcohol..*
16?*
Feb
20
20
36
6
885*
130
79
Photo Engravers...
*
1,135
1,050
4?*
100
...»
.»
...
22 5*
90
10
16?*
28 5*
315
15
29
5
*
35*
325*
♦
185*
455*
»
.
325*
185*
455*
165*
101
2?*
3?-*
*
...
Feb
10
Apr
493*
Jan
61
8 3*
102
July
6?*
10
1,915
1,937
30
19
Feb
May
98
100
4
Feb
Mar
65
Jan
51
June
Apr
July
173*
A pi
133*
15
2?*
4?*
34 J*
May
49 3*
2,900
175*
July
145*' July
36
5
50
June
14
263*
175*
84
102
106
Jan
23*
683
46
June
9
950
35*
335*
185*
Apr
July
9?* June
8i* June
14
14
50
165*
102
...»
Zimmerknit
80
100
125*
Aug
673*
205
106
Apr
June
Jan
61
135*
35*
31
1013*
Aug
57
125*
135*
Feb
Jan
15
225
85*
Jan
Mar
2934
Apr
Aug
71
10
67
85*
Feb
Apr
183*
Jan
'
100?*
Feb
July
97
Jan
115*
50
71
6?*
Feb
Mar
27
July
19
29
106
100
100
-82
60?*
85*
...»
com
JaD
10
25
»
33*
213* June
665*
.*
.,
95
365
71
100
♦
com_
26
JaD
15
100?* 1015*
400
Jan
29
1015*
20
-
285*
lb 5*
*
*
55*
22 5*
90
5
75*
July
25c
885*
Canada.,
.50
100
565*
...100
565*
152
154
198"
198
102
May
25*
July
Mar
43*
June
•
Mar
4
Jan
2?*
Jan
Aug
192
282
281
June.
149
Jan
170
Feb
1
190
Jan
22234
Feb
70
282
1973*.
July
221
Feb
33
•
193
100
Nova Scotia
193
683*
Jan
5134
91
198
100
Montreal
155
57?*
155
2005* 2005*
....100
Loan
and
18234
Apr
213
Feb
271
Jan
300
Feb
123
49
i
104
Jan
182
Feb
2
220
July
235
Mar
-
Trust—
.100
20% preferred
27
1485* 150
149
76
100
2,395
25
National Trust.
95*
,
*
..100
207
835*
Toronto General Trusts 100
Jan
160
Feb
July
90
Mar
14?*
70
9
5
9?*
July
1373*
14
95
80
196
.
207
83 5*
5
Jan
Apr
210
July
833* July
95
Feb
885*
5
55*
Toronto Stock
Jan
June
Apr
55*
101
85*
9
135* May
375*- Jan
65* July
12
Aug
105*
Jan
205*
25
July
60
Feb
Feb
Feb
Aug
Feb
Feb
Feb
July
Feb
July
July
June
Exchange—Curb Section
Aug. 1 to Aug. 7, both inclusive, compiled from official
Last
Sale
Stocks—•
Par
Bruck Silk
»
Canada
Week's Range
of Prices
High
Low
85*
95*
*
Canada Bud
Price
_*
»
205*
32?*
205*
•
Malting
335*
245*
24
405*
405*
Canada Vinegars
Canadian Wire Box A
Canadian Marconi
15*
1
De Haviland
4
_»
Dominion Bridge
•
sales lists
Sales
Friday
Mar
6J*
44
85*
June
15
*
?
Aug
Jan
Apr
100
195*
455*
Mar
July
Orange Crush 1st pref..100
Aug
Jan
25
39
175
100
30c
Jan
Jan
Jan
5
700
65*
17
106
Jan
Jan
Feb
146
27 J*
5
175
17?*
Jan
Mar
Mar
May
Canadian Oil I
Canadian Pacific
55*
Feb
Apr
30
Preferred
30c
97
40
Jan
5*
4
90
Canadian Dredge
6
165*
225*
Jan
Feb
1.40
Aug
90
7
175
June
20
*
495
Apr
43
pref.
55
385*
6
100
Conv preferred
Canadian Car
145*
2
2,422
1025* 1025*
Huron & Erie
42
101
123*
Jan
15
Canda Permanent
100
Canadian Bakeries pref 100
May
Jan
50
Canadian Canners
293*
:
Feb
100
Canadian Bakeries
610
33
July
35*
Mar
60
155*
345*
Aug
June
734
107
85c
42
885*
6J*
July
150
2
59
~~75*
Apr
4V*
Jan
15*
95*
415*
*
18
37?*
*
Porto Rico pref
Power Corp
19
605
June
Apr
35*
Jan
93
141
1,265
42
Steamships
2.25
35*
175
2,300
60
Canada Steamships pf .100
Canada Wire & Cable B.
Jan
45*
228
2,550
45
Canada
Mar
1.00
35*
174
90c
321
Canada Packers
~33~~
1025*
Orange Crush.
185*
175*
190
.
45*
35*
228
25*
30
100
955
1,830
1.65
100
95* June
July
43
Preferred
Feb
25?*
100
265*
245*
Can North Power
July
70
Royal
33
245*
.
107
100
105
Toronto...
Jan
145*
Canada Cement..
12
Jan
Jan
42 5*
1st preferred
Jan
Feb
Jan
255*
30
B preferred
034
Feb
85c
55*
625
15
Jan
27
42 5*
•
115*
39
295*
198
30
Bread..
JaD
405*
24
29
Building Products A
Canada
July
265*
125*
Brit Col Power A.......
Burry Biscuit pref......50
Burt (FN)
26
14
Feb
2
90c
40
25*
265*
115*
12
40c
Jan
National Grocers—
Dominion
285*
145*
British American Oil
Jan
148 5* 1495*
"4
4
Brewing Corp of Canada..
Preferred
1.25
36
107
35*
149
Blue Ribbon 65*% pref .50
Brantford Cord 1st pref.25
Brazilian
1,952
24
10
Feb
610
Jan
„._100
Commerce
25*
135*
10
Feb
2.25
1.30
Aug
Winnipeg Electric
Range Since Jan.
for
24
Beatty Brothers
*
Beatty Brothers pref... 100
1434
64
17
New preferred
Week
Shares
35
115*
Jan
Banks—
11
Alta-Pac. Grain pref
100
American Cyauamid B..10
Feb
May
3?*
65
*
Imperial..
Abltlbl
105?*
43 H
20
105
Western Cada Flour pf.100
W estern Grocers.
_.*
Exchange
Week's Range
Low
June
6,439
75
*
Walker (Hiram) com
Preferred
Sales
Sale
Par
Apr
27
100
Moore Corp com
A.
Preferred
Aug. 1 to Aug. 7, both inclusive, compiled from official sales lists
Stocks-
145*
68 5*
100
Westons (Geo)
Friday
Apr
170
13 34
101
July
23?*
*
Union Gas
WA. 3401-8
Feb
12
235*
Twin City
New York Curb (Associate)
Aug
153*
July
10
19
United Steel
Jan
June
May
215*
Preferred
Commodity Exchange, Inc.
56
Mar
12 3*
240
1.40
Tip Top Tailors
STOCK BROKERS
293*
June
6
14
135*
1015* 1015*
515*
505*
185*
Steel of Canada.
Members Toronto Stock Exchange
4
Jan
50
35
215*
Standard Chemical.
Toronto Stock
1,025
9 >'v:;
.
1.60
Simpsons Ltd pref
King Street West, Toronto.
13
15
27 ■
Feb
83*
68
Saguenay Power pref
16
Jan
185*
Riverside Silk A
Canadian
May
215*
Pressed Metals
Duncanson, White & Co.
30
63*
2?*
Page-Hersey
Pantepeo Oil
Grand Trunk Paclflo Ry—
1185* 119
1205* 121
58.
,
6 5*8...... July
Jan
13
300
56
145*
105
National Sewer Pipe A...*
Canadian Northern Ry—
1165*11165*
1185*1185*
1165* 117
1145* 1155*
45*s... ...June 15 1955
Ask
Bid
| Ask
Mar
1,260
Maple Leaf Milling
*
Preferred..........100
Preferred
Bid
Mar
35*
5
Jan
723*
69
Jan
73*
28
Feb
55*
Mar
64 34
63 X
10
Feb
Feb
*
McColl-Frontenac
Canadian National Ry—
1 1961
45*8... —Sept
20
75*
35*
•
Preferred
Dominion Government Guaranteed Bonds
111
...»
Loblaw Groc A.
B
4s perpetual
105
July
Aug
*
Laura Secord
Ask
Bid
June
11
11
.*.._ 100
Preferred
Lake of the Woods
Canadian Pacific Ry—
Canadian PaciflcRy—
3
100
1.15
...»
B
95
58
10
*
Internatl Utilities A
Railway Ronds
135*
July
185*
v
163*
283*
June
72
9'
5
100
Imperial Tobacco
Intl Milling pref
Privatei wires to Toronto and Montreal
145*
*
B
3
20
Jan
13?*
89
i
56
Ham Utd Theatres preflOO
18
25
3?*
28
pref..30
Hamilton Cottons
14 Wall St.
90
20
pf 100
Gypsum.
*
Harding Carpets...-.--.*
20?*
A0r
July
1 3*
6
3,816
5,576
57?*
50
Preferred
195*
71
*
Goodyear Tire
165*
V
35*
*
Gen Steel Wares com
45
3
20
155*
90
165*
3
20
*
Easy Washing com....'..*
Famous Players
Range Since Jan. 1 1936
for
Week
Shares
260
85*
10
955
65*
335*
935
305*
21
385
195*
245*
340
21
50
High
Low
85*
Aug
Mar
May
May
Jan
15*
Jan
75
2
Jan
375
15*
4
415*
32
JaD
"
165*
Mar
105* June
35
Feb
275*
Jan
265* June
25*
7
Feb
Mar
415*
July
85*
July
»
75*
842
4
100
895*
89
25
56
Jan
Hamilton Bridge
*
5 5*
6
60
4
May
Honey Dew pref
*
10
10
40
7
Mar
12
Mar
Humberstone Shoe
*
29
29
10
29
July
35
Feb
Imperial Oil
»
205*
203*
Int Metal Indust..
»
Dom Tar & Chemical
Preferred
Int Metal Indust pref. .100
International Petroleum
*
205*
65*
"515*
51
5,755
205*
Jan
Jan
96
65*
245*
July
Jan
Apr
65*
75
4
Jan
75*
Apr
515*
30
30
Jan
515*
Aug
Aug
33
34
33
34
19,-387
Jan
Montreal Power
*
315*
31
32
845
305*
June
395*
345*
Apr
18
155*
Feb
National Steel Car.
*
155*
15 5*
155*
120
13
May
175*
Feb
26
Aug
♦No par value.
125*
Feb
.
.
/ Flat price.
/
Feb
Volume
Financial
143
899
Chronicle
Canadian Markets—Listed and Unlisted
Toronto Stock
Toronto Stock Exchange—Curb Section
Ontario
Silknit
of Prices
Low
4.00
Par
Read Lake-Gold Shore.__*
Mar
Week
Price
1
4.60
1.40
1.60
27
SIscoe Gold
)
4.20
4.10
4.35
30,100
1.10
995
50
Feb
2.50
Feb
Sladen-M alartic
1
68c
65c
72c
35%
110
30
Jan
38
Feb
South Tiblemont
*
5c
4%c
52,700
16,900
3 Ho
Feb
99
20
July
37
Feb
Stadacona-Rouyn. J
*
66c
62c
75c 156,195
18Ho
Mar
Jan
8Ho
21%
112%
75c
Aug
25
110
May
119
Feb
St Anthony Gold
1
31%c
31c
34c
81,800
18c
Jan
38%c
212
20
Apr
Sudbury Basin
Sudbury Contact..
»
4.60
4.50
4.75
6,435
3.00
Jan
4.95
Feb
l
17 %c
18c
33,300
6c
Jan
20c
June
Sullivan Consolidated
1
1.77
15%c
1.72
1.87
35,625
83c
Mar
1.90
July
3.30
3.50
July
112
,
United Fuel pref
100
*30~~
*
2%
2%
2%
Waterloo Mfg A
*
1.00
1.00
1.00
Roche-Long Lac
1
27c
22c
26c
Jan
San Antonio
i
2.21
2.20
2.30
Jan
117%
23%
July
*
87c
88c
96c
50c
82c
77c
82c
4%
Aug
July
Sherritt-Gordon
111%
18%
July
1.15
Jan
95
105
32
30
Feb
6%
90
July
4
2,765
24
Walkerville Brew
•
1.00
Mar
34%
3%
July
July
2%
2% June
Shawkey Gold
Sheep Creek
Mar
Feb
Toronto Stock
Last
Week's Range
Sale
Par
*
High
lie
11c
for
11c
Alton Gold
..1
7c
64c
74c
Ajax Oil & Gas
Alexandria Gold...
..1
48c
48c
48c
600
-.1
3c
24c
3c
4c
39,020
37,400
7c
8c
6.00
70c
4 He
Jan
Argosy Gold Mines
*
"ileo
1.58
1.71
1,704
21,010
Arntfield
1
91c
90c
93c
5,600
65c
27,800
6 He
_.l
Astorla-Rouy n..
..1
18c ,224c
184c
4.30
Mar
49c
41c
49c
6,710
9,350
*
2.30
2.05
2.30
20,605
*
1.51
1.30
1.57
11 %c
11c
12c
3%c
4c
8,941
88,850
5,700
8c
9c
6
July
Aug
Apr
Apr
1.71
97c
May
July
of Prices
June
Mar
60c
65c
29,000
28c
1.51
Bldgooe Kirk
Big Missouri
Bobjo Mines
1.62
1.77
38,494
42,291
1.62
-.1
54c
53c
58c
1
354c
234c
40c
69c
52c
July
76c
13c
Apr
30c
Aug
3,462
5 55
JaD
15c
2,600
9c
Jan
25Hc
8.95
8.25
4,098
3.80
Jan
25,400
2c
Jan
13c
July
May
114c
16c
54,420
6c
Jan
18c
Feb
1.38
1.55
5,200
73 c
Jan
11c
11c
1,2c
1.31
29,432
"A
1.75
1.80
1.34
1.45
5,040
4.35
4.10
4.65
Castle Trethewey
Central-Patricia...
Central Porcupine
1.70
1.15
21,330
45c
40c
51c
1.05
1.11
1.88
Jan
1.69
1,650
July
59c
1.60
Chibougamau Pros
1.75
1.65
1.78
3,645
1.22
May
*
2.13
2.05
2.13
19,725
2.05
July
8c
74c
2.25
2:08
Clerlcy Consolidated
_
*
_
Commonwealth Pete
¥
Conlaurum..
*
Dome Mines
»
J
10%
2.75
574
54c
2,346
42
1,000
4%C
Jan
7c
35,075
53c
July
90c
82c
10,815
82c
Aug
1.38
9.20
5,660
6.90
Jan
9.60
74c
16,450
3c
Jan
10c
July
July
5c
5c
5 He
13,400
5
2.55
2.55
120
2c
2 He
63c
63c
14,700
1,090
2,000
1
34c
33c
36c
60,300
32c
July
40c
*♦
1
1.25
1.10
75c
Mar
1.46
34c
14Hc
Jan
48c
June
25C
July
54c
Jan
26He
j—■
85c
1.29 141,766
:
37c
25c 25 4c
-
30,400
9,600
14c
14c
16c
19,650
v
.
1
18c
174C
24c
77,075
3%c
Jan
4c
31c
28c
31c
17,966
17c
May
40c
13c
11c 13 4c
10,500
5Hc
Jan
15c
71c
63c
86c 404,845
21c
Mar
86c
..1
Hard Rock....—.....
Harker Gold
104
1,000
8
Feb
11H
1.00
1.03
1.09
14,250
75C
Jan
20,700
2c
Jan
3.50 162,195
18c 112,450
37c
3.15
3.00
154c
20c
19c
1
29c
Jan
3.63
7c
Jan
18 He
23,800
13c
JaD
1?H
Mar
17 H
May
Feb
1.43
2&%0
Feb
Jan
31c
May
Jan
2lc June
5 He
89,100
lHc
3c
19,500
2,000
lHc
Jan
13c
12C
4c
7c
Jan
He
2,000
1,700
37,550
July
July
18c
May
8c
*
5c
•4c
5c
15c
15c
15c
23c
1
22 He
25
7 %c
7c
29,400
2%C
85c
30,50
70c
11 He
74,600
4c
8Hc
8c
9 He
32,900
lo
Jan
5c
4%c
5 He
Apr
3 He
4c
25,500
52,000
4c
3Hc
3 He
Jan
12,500
2c
Jan
7,200
4c
1
15Hc
15c
16 He
...1
7c
6 He
7c
Jan
Feb
31Hc
lie June
Jan
1
Apr
7c
18c June
Jan
1
26c
July
10He
Feb
6H0 May
Jan
83c
11 He
...1
...
7o
Jan
1
...1
59,575
Jan
87c
1.20
Feb
15c
Mar
13Ho May
9c
Feb
7Hc
M >r
■
23c May
80c 854c
72,205
1.00
62,140
65c
1
1.49
1.38
1.74
81,375
.1
Jan
Jan
1.75
58c
61c
52,450
41c
May
94c
67c
64c
66c
8,350
64c
Aug
68c
58c 584 c
1,345
40c 464c 357,750
51 he
Jan
60c
5c
Jan
47c
90c
Aug
1.38
Jan
-.1
95 c
90 c
1.04
..1
174c
174c
20c
1
44c
44c
6.10
III
4.60
4.90
Lee Gold Mines
454c
Little Long Lac
6.05
6.50
7,905
5.90
July
7.75
4.80
19,630
40,546
3.12
Jan
4 90
30c 406,425
5Hc
5Hc
4.15
26c
25c
48c
46C
-.5
'
_
;
.J
130c
40
30c
Aug
55c
July
Mar
46c
Jan
Aug
Aug
49 %
Jan
.2.18
57,010
1.22
Mar
2.24
July
7c
84c
37,400
2 He
May
15c
Feb
20c 21 4c
7c
204c
424
11,100
19c
July
42c
Jan
1,564
*
_
Mlnto Gold
1.40
1.40
1.48
17,550
1.19
Apr
1.78 June
_»
1.40
1.35
1.45
Apr
1.50
Jan
50c
494c
53c
7 He
Jan
1.00
Mar
29c
25c
6,250
18,400
31c 111,500
1.11
*
McWatters Gold
Moneta-Porcupine
1.1
Morris-Klrkland
..1
6%o
Jan
56c
55c
60c
15,550
54c
June
44c
44c
54c
52,300
%
Jan
New Dec Mines
*
44c
4c
54c
2c
JaD
New Golden Rose
1
1.37
1.01
1.40
67,200
18,149
1.00
Murphy Mines
.
2.50
*
2.40
62
5
Northern Canada Mining *
O'Brien Gold
614
53c
58c
May
80c
Feb
1.40
Aug
2.50
1,825
2.30
July
July
64
4,095
44H
Jan
7,817
28 He
Jac
63c
7.00 198,330
8c
7,900
34c
Jan
7.00
July
7e
July
15c
May
85c
58c
5.90
5.65
74c
74c
70c
65c
4.45
Olga Oil & Gas New
Omega Gold
*
Pamour-Porcupine
Paymaster Consolidated ..1
33o
7H May
5Hc July
4.45
4.65
1.03
41,075
73c
36,531
40c
Mar
13,528
3.50
Mar
3.05
64
5.20
Jan
Aug
May
June
June
1.00
50Hc
Jan
1.25
May
1.32
1.30
1.48
14,950
1.12
Jan
1.74
Feb
24c
Perron Gold
Peterson-Cobalt
99c
2c
24c
6,700
2Hc
Jan
4Hc
Feb
Pickle Crow..
1
7.10
7.05
7.35
11,4.35
3 95
Mar
7.60
July
Pioneer Gold
1
8.10
8.10
8.15
2,310
8.00
July
12.00
Jan
Premier Gold
1
•
2.72
1.77
22,510
1.80
Jan
2.25
1,720
2.10
May
1.75
2.25
Preston (new)
3.15
2.20
2.97
Prospectors Airways
1.92
51,030
21c
Mar
'
Aug
3.25
Jan
July
75c
77c
26,600
70c
July
1.40
May
9c
75c
Quebec Gold
3.15
2.25
94c
1,000
5c
Feb
9Hc
Quemont Mining...:
Read-Authler.
III
3.90
3.80
4.15
11,200
1.44
Jan
4.35
Aug
July
Reno Gold
-.1
1.27
1.25
1.30
6,400
1.00
Mar
1.35
May
.J
..
834
4%
20
24
May
July
38
Jan
228
141
Mar
160
Feb
12
50
2
6,214
12%
U%
9%
Jan
15H
30
30
30%
130
28
Jan
8%
43
440
7
July
32 %
16
Feb
8
42 %
380
33
Jan
43
Aug
6%
1,253
6
May
8
r Fen
6%
77%
26%
6%
77
78
160
58
Jan
81%
26%
27%
991
22%
Jan
27 Va
2%
135
1%
Apr
3%
.7%
810
6%
June
2
"7%
.
15%
7%
14%
14%
25
9
Jan
14%
37%
37%
40
31
Jan
41
108%
108 %
5
7%
8%
6,375
..100
Preferred
10%
2,540
27
27%
445
120
120%
79
25
25
25
.100
62
52,
...100
,101
101
100
100
Celanese
Preferred
Canadian
8%
120
25
Preferred..
Canadian
-
10%
*
7%--—-—100
Converters-.100
Canadian Cottons
Preferred
Canadian Fairbanks pfdlOO
pref 100
18
25
100
102% May
5%
5
Aug
Apr
July
Feb
13
25%
May
31%
May
128—
July
July
Jan
23%
Jan
30
Jan
48
Jan
52
Aug
97
May
105
Jan
'
i
Aug
July
Feb
Feb
108H
W/2
n
8%
20%
20%
Apr
May
112
Jan
~40~
4
98%
Jan
28%
175
23%
Apr
Jan
100
28
100
Canadian Foreign Invest.*
Candn Hydro-Elec
Feb
42
*
Canadian Car & Foundry. *
Jan
25
149
Can Wire & Cable cl B. _•._*
Canadian Bronze
Jan
148
2
148
♦
100
6
24
_*
Steamship..
*
Canada Steamship pref 100
5 05 May
1.98
2.08
-.1
50c
20,200
47,725
Jan
41.4
_
-A
G0I4
30c
3.50 June
1%
13%
Canada
June
524c
Feb
12%
Preferred.
Feb
4.50
Jan
17%
2
20
Can North Power Corp..^*
29He Mar
6Hc June
Mar
4.45
TIi
.
2%c
264c
..
Manitoba «fc Eastern
17,000
52,973
54c 100,500
15
95
235
0%
Building Products A.....*
Canada Cement
*
May
12c
Lava Cap Gold
Lebel Oro
100
July
Mar
11
3
Bruck Silk Mills
June
May
July
0%
10H
97
pref...100
100
Brazilian Tr, Lt <fe Pr
*
British Col Power Corp A. *
July
..1
High
Low
Shares
High
0%
Bell Telephone.
Mar
Lamaque-Contact
Week
of Prices
2%
Bawlf N Grain
Aug
58c
Range Since Jan. 1 1936
for
Week's Range
Low
97
100
preferred
Bawlf N Grain
May
58c
1
1
Price
official sales lists
Bathurst Power & Paper A *
July
Laguna Gold Mines
May
Sales
*
0%%
70c June
30c
Par
Associated Breweries
July
60c
55 He
29c
Mar
64c
1
49c
9c
Acme Glove Works Ltd—
July
80c
-.1
Klrkland-Lake
.
Alberta Pacific Grain A__*
July
lie
144C 154c
52c
Lake Shore Mines
N1 pissing
9
Jan
12 c
Sale
July
May
4,425
15c
1
Kirk Hudson Bay
Noranda
3c
2 He
Last
31c June
59c
..6
J M Consolidated
Mining Corp.
16c 114,630
4%c
2VaC
1
Stocks-
10Hc June
6c
44c
5c
*
.
..
5,400
72%c
22%c
14%C
Jan
23c
Friday
1.20 May
154c
.
Homestead Oil
McKenzle Red Lake
Feb
May
Apr
Montreal Stock Exchange
Mar
104
....
Gunnar Gold
McVlttie-Granam
Feb
13H
6%
4
Aug. 1 to Aug. 7, both inclusive, compiled from
Aug
Gruli Wihksne._______ -.1
McMillan
Mar
78c
..A
...5
Wood-Klrkland
July
"l
May Spiers Gold Mines
Mclntyre Porcupine
3%o
lHo
14c
June
*
Maple Leaf Mines
2,260
Feb
Jan
380 June
May
21c
26Hc
9H0 May
4.50
2.55
14c
Aug
1
...
1.00
25Hc 26 He
Jan
*
Feb
— —
~
-
MacLeod-Cockshutt.
1.00
1,000
1,025
May
6c
—
Macassa Mines
5 H
.
Jan
34c
Granada Gold
.....
7Hc
■:/'■■■ 5H
»
*
He
7
8c
5H
..A
July
.A
Howey Gold
2Hc
**
7c
58,180
24c 24%c
24%c
Feb
50c
.
1936
High
1
Sudbury Mines
Temiskamlng
July
7c
Gold Belt
Highwood Sarcee
Holinger Consolidated
Low
July
Robb Montbray
Mar
8.60
Goodflsh Mining
Halcrow-Swayze
Range Since Jan. 1
for
Week
Shares
High
67c
Ritchie Gold
June
'■—0
Greene Stabell
■
27C
Porcupine Crown
•
7c
.....
ii-wwi—
Curb Section
14;Hc
Pend Oreille..
July
61 %
Jan
1
Graham-Bousq uet
Jan
Jan
Pawnee-Kirkland
Feb
83c
82c
Glenora Gold
.... ... .
Feb
* 7ic
Jan
Parkhill
Apr
8.95
:
*
God's Lake.
9.00
;
Jan
Osisko Lake..
Feb
Jan
2
III
Falcon bridge
Grandoro
Jan
/
•
75c
„
~75c
Eldorado
Federal-Kirk land
Goldale.
Jan
4%
44c
56
564
Dominion Explorers
-.1
Eastern Malartlc Gold M.l
■
18,134
Mar
2c
Malrobic Mines
14c May
3c
500
6
2.35
Mar
38c
llHc
3Hc
Nordon Corp
Oil Selections
2.18 May
2.46 July
1.80
10c 183,375
6
7.55
62,550
Night Hawk
Feb
Chromium Mining.
100 June
81,700
Lake Maron...
July
July
Jan
90c
5%e June
Jan
13c
Hudson Bay
Jan
4.90
*
Feb
Jan
30
July
Jan
*
20% o
47c
Klrkland Townslte
Feb
Mar
Chemical Research
June
11c
Grozelle Kirk
June
1.40
24
50c
34,700
1.10
18
Mar
2 41
1
9 He
3c
Aug
41c
East Crest Oil
1.60 June
Jan
95Hc
1,000
1.35
A
Cariboo Gold
5
1,715
1.17
Low
'
64c
1.20
*
Price
•
Dalhousie Oil
5c
Calmont Oils
July
13C
Home Oil
Canadlan-M alartic._
Feb
1.80
45c
0
..
Cooalt Contacts
1.40
Calgary & Edmonton..
2,50
Jan
...1
Mar
14c
7.80
Jan
1.00
1
Brett Trethewey
Central Manitoba
8.60 June
7.75
5c
1,60
Coast Copper
Jan
7.70
8.00
July
49c
Churchill Mining
July
134c
Par
Aldermao Mines
Feb
July
7.70
*
1.90
Jan
July
1.84
134c
...1
Stocks—
Jan
2.00
1.20 June
17,872
36c 382,722
Apr
Jan
20o
Sales
Week's Range
1.45
2.50
1.20
Aug. 7, both inclusive, compiled from officiall sales lists
to
Sale
60c
Ankerite..
Aug. 1
Last
1.70
1.65 June
Toronto Stock Exchange—Mining
Jan
3lc
Friday
1.50
May
6.70 July
68c
12Hc May
Jan
Feb
..1
Feb
22,360
5,000
43c
Feb
59,537
Aug
23,000
8.25
42c
10c June
"l
Buffalo
7.85
43c
6H0
30c
Bunker Hill...
7.95
*
11 He
Bear Exploration
Beattie Gold Mines
Buffalo Canadian
_*
Ymlr Yankee Girl
Jan
25c
60c
~8%~
Jan
28c
Bralorne Mines
*
..1
Mar
*
B R X Gold Mines
Exploration. 1
3 He
14c
32,900
July
72c
17,737
2%c
54c
July
4.45
1.84
5Hc
44c
1.85
Jan
2.05 •19,820
113,300
5c
5%c
Jan
43c June
6.35
7c 104c 159,000
4c
"94c
1
Base Metals
1.00
1.00
2.87
1.65
1.75
Wrlght-Hargr eaves
May
83c June
1.85
1.92
1
Wiltaey-Coghlan
Feb
Jan
4.10
15,200
5.80
8c
_*
May
40o June
lHc
3%c
Jan
6.00
6.10
*
White Eagle
c
Feb
88c May
56c
Jan
Walte-Amulet
18%
9%c June
1.15 June
Mar
Wayside Consolidated -50c
1,000
Apr
280
Ventures
High
Low
Jan
75o
2.25
♦
Towagamac
Range Since Jan. 1 1936
Shares
July
3.45
14,855
38c
Tobura Gold
Week
of Prices
Low
Price
32c
Mar
11,200
3.35
l
Teck-Hughes Gold
Texas-Canadian
sales lists
Sales
Friday
Mar
2.15
3.49
1
Taahota GoldHelds...
Exchange—Mining Section
Aug. 1 to Aug. 7, both inclusive, compiled from' official
5c
53^c
37c 40 %o
Sylvanite Gold.
Bagamac Rouyn
Barry-Hollinger
July
20
Toronto Elevators pref.100
Ashley Gold
2.25
Jan
35
21
*
_
High
50o
Jan
3
2.24
2.09
2.10
June
,75;
938
4%
21
_*
Algoma Mining
Anglo Huronian
Low
Shares
11
20
20%
20
21
235
117%
Jan
3,15
5
6
95C
Acme Gas & Oil
Range Since Jan. 1 1936
jot
of Prices
Low
High
205
20%
3%
•10
75
115
*
Stocks—
Sales
Week's Range
40,325
110,350
12,632
44,825
10,700
72,468
5%
Standard Paving prel__100
Stop & Shop
Super Petroleum ord
Thayers preferred..
Stocks (Concluded)
High
Low
Shares
3.75
75
Roger Majestic Corp Ltd..
Simpson (R) pre!
100
Shawinigan
*
Standard Paving
High
3.75
..—5
100
pre!
1 1936
Week
Price
Par
North Star Oil frfef
for
Sale
Stocks (Concluded)
Week's Range
Last
Sale
Range Since Jan.
Last
Exchange—Mining Section
Friday
Sales
Friday
34
Mar
40
41
360
26
Apr
48
Jan
6%
Candn Industrial Alcohol.*
6%
July
12 %
Feb
5%
325
5%
12%
3,904
10%
June
Jan
Jan
Feb
Feb
6%
1,370
5%
5%
30
July
11%
15%
9%
56%
57%
1,279
51
May
57% May
17
17%
710
15
Mar
22%
22
23
40%
40%
41 %
638
18%
18
18%
4,392
»
5%
Canadian Pacific Ry
26
12%
Cockshutt Plow.
_•
Class B
Con Mining & Smelt new 25
Crown Cork & Seal Co...*
Dlst
Corp Seagrams
Dominion Bridge
Dominion Coal pref
*
100
Dominion Glass
100
"56%
110
5%
12
110
110
1,635
28
5%
17
Feb
Apr
34%
Jan
32
Jan
41^
July
14%
Api
18%
Aug
18H
106
Jan
115
Feb
Feb
May
8
*
65
65
65
101
60
July
79
Jan
Dominion Textile pref. 100
146
145
146
35
142
148
June
6
295
4%
July
May
7
Feb
1%
July
Dominion Steel <fc Coal B 25
Dominion
Dry den
Textile
Paper
*
*
Eastern Dairies
Electrolux Corp
*
5%
*
General Steel Wares
Gurd,
Charles
>
16%
3%
.*
5%
Gypsum. Lime & Alabast. *
Hamilton Bridge
Hollinger Gold Mines..
Holt, Renfrew pref
*
No par
value.
7%
5
100
5%
5%
1,816
4%
3%
Feb
24
Jan
28 %
Feb
15%
16%
450
13
Mar
18%
3%
3%
135
3
June
5%
5
5%
260
5
84
7%
480
5%
Aug
June
5%
60
4
May
1.75
7%
5%
..*
Hamilton Bridge pref. .100
5%
23
1.75
i
Foundation Co of Can
5%
'45"
15
1.75
45
45
14%
15%
40
40
40
1,220
19%
35
25%
Jan
1,670
13 60
Mar
25
30
Jan
8%
6%
45
Apr
Jan
Mar
Jan
Jan
July
174
Jan
40
Jan
Financial
900
Aug.
Chronicle
1936
8,
Canadian Markets—Listed and Unlisted
Montreal Stock
Week's Range
of Prices
Last
Week
Range Since Jan. 1 1936
Week's Range
of Prices
Low
High
Week
'
Stocks
Price
Par
(Concluded)
High
Low
Low
Shares
Stocks (Concluded)
High
Par
Range Since Jan.! 1930
for
Sale
for
Sale
Sales
Friday
Sales
Lout
Market
Curb
Montreal
Exchange
Friday
Price
1
High
Low
Shares
—
12%
100
Preferred*--
"Ii3 k"
Imperial Tobacco of Can
222
14
2,280
7%
7%
93
10
3%
4%
14%
35
Cottons..... 100
7
35
Jan
94
July
26
July
156
Aug
Goldale
.56
56
*
25
43 H
2.30
Mar
62 %
600
93c 125,400
22 %c
23e
"71c
1,675
Greene-Stabell Mines....!
10%
10%
100
J-M Consol Gold
1
""63c
60c
67 c
83,600
35
Ottawa L H A Power. .100
-1
Intl Mining
Aug
10%
28% 0
10%
Aug
70c June
Jan
52
60c May
86
Jan
100
Feb
Lake Shore Mines
1
54%
58%
58%
80
30
May
34
Jan
41c
46c
Jan
60
Jan
18c
18c
20c
13 c
Jan
46 %c
29c
94
80
85
Apr
Apr
45,650
2,400
6C
55%
Lamaque Contact Gold M*
Lebel Oro Mines......-.1
46c
25
103
Jan
Lee Gold Mines
*.1
5c
5c
5%c
37,750
3c
Apr
6c
Mar
46%
Jan
43%
44%
1,664
39
Jan
45
June
1.27
Aug
1.35
Aug
43
73
200
1.27
11,600
1.20
1
1.35
1.16
1.35
1,000
1.05
Aug
July
Pamour-Porcup M Ltd...*
4.55
4.50
4.65
775
3.75
Jan
23c
22c
26c
27,900
New Golden Rose
13
Mar
May
44
50
100
56
Jan
01
July
Parkhill Gold
64
3.038
64
Aug
Perron Gold.
00
44%
199%
Jan
216
Jan
240
11%
25
6
Jan
100
101%
105% 105%
Feb
11}
101)
143
02
"
80
88
July
17%
Feb
Pickle-Crow
Mar
42
—.1
1.30
1.47
4,600
1.12
Jan
1.75
Feb
7.10
7.30
2,120
3.95
Mar
7.55
July
2.74
3.10
500
1.83
Feb
3.10
Aug
——1
5
48
Mar
57
18%
Feb
200
70c
June
3.85
3.80
4.15
12,208
1.43
Jan
4.40
July
Shawkey—...
Jan
77c
1
1
88C
88c
1.01
18,300
82c
July
1.03
July
80c
82c
Jan
4.10
4.45
6,000
9,150
57c
4*20
2.88
Mar
101%
15%
16%
1,460
Quebec Power...—
Regent Knitting
18
17%
18%
542
14%
Jan
Jan
5%
6%
885
4%
May
11%
.
Sheep Creek Gold...__50c
6H
101
Saguenay Power pref—
St Lawrence Corp.*
A preferred
50
101,
2%
2%
101
87
3
3,071
101
Aug
1.50 May
18%
6%
July
42 %c June
71c
July
830
Mar
1.90
July
900
4.30
Mar
6.65
July
1.10
1.50 444,785
May
1.50
Aug
2.15
2.35
37 %C
1.00
Jan
2 50
9%C June
21c
Feb
Mar
8.90
Feb
101
Aug
3%
14%
July
July
4,400
.V.'-8'.V:'
Jan
130
10
119%
Jan
31%
40
2,285
20%
Jar
20%
20
20%
2,280
18%
17%
17%
18
82
16
July
May
20
85
11
June
14
ll%o
1
66c
62c
76c
1
1.77
1.70
1.90
42,000
29,934
Teck-Hughes Gold..
Thompson-Cad
1
6.10
6.10
6.45
1
1.13
Ventures Ltd
»
2.30
Mar
66%
67
372
57
Jan
67%
60%
61
165
49%
Jan
61
380
1%
July
11%
130
"32%
Shawinlgan w A Power..*
Sberwln Williams of Can.*
Southern Can Power.....»
"66%
25
Sladen-Mal..
Jan
11%
12
11%
St Lawrence F1 Mills pf 100
St Lawrence Paper pref. 100
*
1
July
Feb
61
.___*
m
14%
1%
June
41%
July
23%
7" 90
7.90
8.10
4,450
10,200
2,425
9%-
Wayside Con G M Ltd.50c
Wrlght-Hargreaves
77c June
4.45
Siacoe Gold..
Sullivan Consol..
♦
1.40 May
Jan
53
77c
Read-Authler Mine...
Jan
21
Feb
1.32
Quebec Gold Mining Corpl
110
June
5.10 June
31%
7:25
Aug
Feb
15
Feb
1
Premier Gold
10
18c June
July
Mar
1
—
Gold
Aug
18
40
42%
1.20
16%
39%
Jan
L20
1
Montague Gold
59
15%
12c
Feb
Mar
130
*
7.65
Unlisted Mines—
•
7c
6%c
7%c
14,200
2o
Jan
Cndn Malartlo Gold
1
1.20
1.32
9,150
98c
Mar
1.42
Feb
Aug
Central Patricia Gold
1
4" 35
4.10
4.70
Mar
4.75
July
Duparquet Mining
1
8c
3,550
5c 10%c 221,375
80c
80c
1,000
2.43
Feb
3%
Arno Mines
Apr
4c
June
I0%c
Jan
80c
Aug
1.38
Mar
55e
Mar
.100
37
37
9
18
Jan
39
Mar
*
25
25
160
20
May
32
Eldorado Gold
.1
Apr
Jan
Winnipeg Electric
2%
*
265
2%
Jan
2%
4%
100
11
11
100
Preferred
Woods Mfg pref
65
05
57
57
57%
140
140
4
154
154
155
62
148
262
184
Apr
May
M^r
214
10
10
July
18
5
50
May
67%
Jan
—
Kirkland Lake Gold
Canadlenne..
100
Commerce
100
;
100
192
191
Nova Scotia
100
281 %
281 % 282
Royal
100
177%
173
177%
Toronto.
1001...
231
231
...
192%
Jan
Jan
133
58% June
140
Feb
170
*
Feb
47
271
Jan
300
164
Jan
181
Feb
;V-2
229
June
234
Mar
Feb
Canadian Government
INCORPORATED
Sparks St, Ottawa
Cum 0% pref
—
100
Public Utility and
Claude Neon Gen Ad Ltd *
Ford Motor of Can A
*
*
Massey-Harris Ltd preflOO
McColl-Frontenac OilpflOO
Sales
ABbestos Corp voting tr..»
Bathurst Pr A Paper cl B.*
Beauharnols Power Corp.*
Brit Amer Oil Co Ltd
Brit Col Packers (new)
of Prices
Low
33
33
..100
519
4
4%
3%
24%
24%
17%
10
3%
24%
1,140
1,448
3
Jan
36
Feb
5%
June
3%
Jan
16%
Jan
27%
9%
373
8
May
2
50
1
Feb
4
2 %
pref .100
Catelll Food Prods pf B.30
107%
Feb
111
88
21
40
20
50
1.50
Apr
4
Feb
16
15
11 %
Jan
25
Feb
2%
5%
1.60
120
May
2% June
25
1.50
July
June
27%
Jan
6%
July
3.00
70c
9%
Dom Tar A Chemical Ltd *
8
91
cm pf 100
~
-
-
«
85c
120
55c
1.35
Feb
34%
50
26%
Jan
36
.
9%
270
7%
July
12
8%
3,236
4%
Feb
75c
*
Voting trust cifs
Home Oil Co Ltd.
♦
14%
*
95c
95c
Imperial Oil Ltd
*
20%
20%
(Can) Ltd A... *
Int Petroleum Co Ltd.'.. *
33%
Inter Utilities
Corp cl A.
inter Utll Corp class B
_
91
30
50
Jan
75c
5
65c
June
8%
97
9
Jan
19%
Feb
8
Jan
19
Feb
2,445
70c
Jan
1.40
Feb
Bell Tel Co of Can 5s. 1955
20%
3,103
20%
24%
Apr
685
2%
Aug
Apr
33%
33%
3,181
33%
Aug
10%
5
1.30
980
3
4
July
Apr
89
89
30
79
Jan
101
102
98
97%
8
8
30
102%
35
102
12%
14
6
Jan
57
230
45
June
65
Jan
18
270
15
June
18
21
Aug
Juue
40
Mar
21
May
May
Feb
Jan
104%
6% May
48
41
40
47
780
22
28%
28%
29%
210
26%
Apr
39%
Feb
17%
17%
100
13%
Apr
17%
July
July
SECURITIES
Municipal
•
•
Corporation
Montreal and Toronto
New York
•
•
HAnover 2-6363
NY 1-208
-
-
101
MacLaren-Que Pr 5%s '61
85%
86
97
Manitoba Power 5%b.1951
85
85%
58
59
Minn A Ont Paper 6s .1945
1941
109
111
106%
Feb
Feb
Canada Cement Co 5 %a *47
Canadian Inter Pap 6s *49
106
5%
Jan
Can North Power 58—1953
Feb
Can Lt A Pow Co 5s—1949
104% 104%
101% 102%
94%
98
608
Cedar
Jan
103
July
5
June
33%
18%
145
14
Aug
Rapids M A P 5s '53
Consol Pap Corp 5%s. 1961
Dominion Canners 68.1940
Dominion Coal 5s
1940
Dom Gas A Elec 6%s_1945
91%
119
26%
17%
92%
69%
112% 113%
Ottawa Lt Ht A Pr 5S.1957
108
48%
Ottawa Traction 5%s.l955
102
83
Power
'70
Corp of Can 4 %s '59
5s
Deo
I 1957
101
102
Provincial Pap Ltd 5 %s '47
102
103%
/48%
Ottawa Valley Pow 5 %s
113
105
-
3%
1949
105
34%
Feb
19
Feb
Donnaconna Paper 5 %s '48
East Rootenay Pow 7s 1942
98
83
Fraser Co 6a_..Jan
1
1950
81c
Apr
10c June
General Steelwares 6s. 1952
Jan
Gt Lakes Pap Co 1st 6a '50
Int Pr A Pap of Nfld 5s *68
56c
12c
130
30%
31%
90%
39%c 45%c
52c
15c
30c
Jan
52c
July
1.600
10c
July
712
29%
July
37c
47c May
75o
40c
37
Jan
Jan
Jan
Lake St John Pr A Pap Co
6%s
Feb
1 1942
6%s
Feb
1 1947
90%
106
98
„
__
98%
Gatlneau Power 5s... 1956
Apr
July
.
_
101
82
July
88
69%
Apr
5c
102% 103%
1937
Northwestern Pow 6s. 1960
New Brunswick Pr 5s.
69
Dominion Tar 6s
4%c
--
5L%
106
91
Feb
3,300
50%
Nova Scotia LAP 5s. 1958
90
Mar
4,000
1,800
39,500
5,325
Montreal Tramway 5s 1941
105
69
95c
1949
1939
value) 3s
92%
93%
105% 106
38
39%
Certificates of deposit...
Apr
July
July
Montreal Island Pr 5%s *57
Montreal L H A P ($50
par
8
Apr
50c
30
Maple Leaf Milling—
102
106%
Canada Bread 6s
Ask
53%
105%
11
2
32%
Bid
Ask
/52%
McColl Frontenao Oil 6s '49
June
1,245
25%
975
2%s to .'38—5%s to '49
Massey-Harris Co 5s..1947
6
3,275
7%c
4%C
31%
5
Jan
106%
Canadian Vickers Co 6s '47
75c
6%c
......
Jan
May
96%
2%
106
Aug
2%
4%c
Brazil Gold A Diamond..1
Bulolo Gold Dredging ...5
19
30
170
Brit Col Power 6%s.. 1960
5s—
Mar 1 1960
102
70c
l
54c
34%
103
4%
4%
10
35
21
34%
102
103
13%
Mines—
40c
Feb
28%
41
41%
115% 116
Mar
2
18
-
July
Aug
July
14%
May
June
1
9%
7%
"18"
2.50
5
Barry-Holllnger Gold
1
Base Metals Mining.....»
Gold...
Apr
Jan
18%
Jan
9
Big Missouri Mines...*..]
36
2%
314
Eastern Dairies 6s
Alton Mines
Mar
4%
20%
50c
3
Walker-Good A Worts pf
33
220
19%
53%
80
90
Walker-Gooderh A Worts *
80
1,690
"20%
99%
305
70c
July
8%
99%
430
2%
32%
5%
8
73
3
*
Jan
Jan
36
6%
7
Burns A Co 5 %s-3 %s. 1948
7
*
60c
2
200
30c
5
34
Feb
20c June
15,786
25c
Calgary Power Co 5s__ 1960
10
25
35
14%
6
Walkerville Brewery Ltd
61%
Apr
Apr
3
United Dist of Can Ltd
86%
Apr
Feb
9%
102
July
30%
39%
3
Sou Can Pao Ltd pref..100
Thrift Stores Ltd—
75
57
465
Jan
9%
101
10
100
33%
4
1.15
Power of Can cum pref 100
Sarnla Bridge Co Ltd A..*
Cumul pref 6%%
BeauharnolsLHAP 5%s *73
Beauharnols Pr Corp 5s *73
369
4,745
*
B
Feb
Feb
80
4%
Alberta Pac Grain 6s.. 1946
1.00
*
Melchers Dist Ltd A
Apr
16%
1.15
Mitchell A Co Ltd (Robt) *
Page-Hersey Tubes
*
Mar
59%
.....
Bid
2%
16
l
.
Feb
18%
Industrial and Public Utility Bonds
July
July
14
10%
4
4%
Jan
4svasFwwan»wwwwwwwww twvrrrvnpgTVWW rvvv w ww. www ■
15
*
Jan
Bell System Tele.
»-
Jan
Fraser Cos Ltd
Int Paints
Mar
13%
Feb
8%
7%
90
«.
80c
2%
508
80
.....
Jan
515
1,470
Royal Securities Corporation
30 Broad Street
Abltibl P A Pap ctfs 5s '53
Foreign Pow Sec Corp Ltd*
1.40
90c
2%
15
Private wire connection between New York,
Feb
34%
...
Feb
July
July
Apr
111
1.60
*
2 50
13%
13%
f Flat Price.
Government
Jan
20%
2%
5
City Gas & Elec Corp Ltd*
Jan
CANADIAN
Mar
15%
21
June
0%
32%
*
•No par value,
Apr
13
111
Ill
6%
July
Mar
1.95
2
Canada Vinegars Ltd
*
Canadian Vickere Ltd...*
1.30 May
High
8%
—*
Cndn Int Inv^Trust Ltd..*
Can Nbr Pow Ltd pref. 100
Commercial Alcohols
36
Low
*
Ltd
Week
Shares
3.55
59%
100
Preferred..
Weston
Range Since Jan. 1 1936
3%
------
*
Dominion Eng Works
*
Dominion Stores Ltd....*
High
Mar
225
*
Royallte Oil Ltd
Sale
2.38
1,896
85c
33%
B
Aug. 1 to Aug. 7, both inclusive, compiled from official sales lists
Price
2,050
2,535
2
Calgary Pow Co pref... 100
Can & Dominion Sugar
*
Canada Malting Co Ltd..*
Price Bros Co Ltd
Par
3.51
Aug
July
2.38
14%
General Steel Wares pf 100
for
July
77c
13
Donnaconna Paper A....*
Montreal Curb Market
Week's Range
Jan
1.90
13%
2
14%
Int Paints (Can) Ltd pref30
Loblaw Groceterias A
_*
Stocks-
1.75
"90c
*
.*
Dom Oilcloth & Lino
Industrial Bonds
330 Bay St., Taraati
Last
3.40
Jan
Jan
11
11%
Consolidated Paper Ltd..*
Friday
Mar
1.00
11
1.75
Abltibl Pow A Paper Co..*
Abitlbl ctf of dep 6% pf 100
Preferred
1SS3
2.20
July
Unlisted Stocks—
Brewing Corp of Can
255 St. James St., Montreal
5.00
18% c
100
1.60
60c
3.40
Jan
16,633
2.32
1.40
67c
—1
July
93c May
3.18
77c 138,960
2.32
1*60
Sylvanlte Gold
1.00
43 %c May
200
3,100
1
Ltd,... i
Brew A Distillers of Van..
ESTABLISHED
59c
4.75
Feb
147
HANSON BROS
200
85c
59c
4.60
Stadaoonna-Rouyn Mines *
Sherritt-Gordon Mines
61 %
90
84c
4.50
.1
—1
Macassa Mines Ltd
San Antonio Gd M
.60
.
Howey Gold Mines Ltd.. 1
Mar
Banks—
Canada........
Beau Tort
Aug
115
Power Corp oi Canada...*
Chepi
93c
5,560
53
105%
100
Penmans
DomTar A
Feb
Jan
Jan
4
18
100
Cndn Vickers cum
44o
48c June
57
11%
Ontario Steel Products... *
56
July
2,300
95
215
Ogilvle Flour Mills
Montreal
9.55
July
Apr
36c
Jan
.
14%
*
Vlau Biscuit pref
Wabasso Cotton
Jan
10c
39c 358,000
35c
Jan
Feb
May
59
No ran da Mines..
Vlau Biscuit...
6.90
9.25
12c
32
43
59
Preferred.
July
31
'
Natl Steel Car Corp
*
Niagara Wire Weav pref. *
Steel Co of Canada
June
8.75
7%
17%
May
26
61
89c
35c
1
Mines
Jan
2
10%
Jan
52c
82c
9.00
FalconbrldgeNlckelMlnes
Aug
July
July
43
175
11,600
75c
Mclntyre-Porcup N Ltd.5
Preferred.
58c
Apr
93
"31%
Ottawa Traction.
Jan
1.10
57
H & Pr Cons.*
Telegraph
40
Montreal Tramways... 100
Montreal L,
Montreal
Preferred
18%c
57
J&D
95
Montreal Cottons pref. 100
National Breweries
500
4,535
75c
Francoeur Gold
Jan
4H June
20
1.70
-—1
Jan
48c
48c
"L75
2o
1.85
16c
*
Dome Mines.....
16%
2,430
35
East Malartlc.
67
820
45
15
Feb
7%
Consol Chlb Gold Fields.. 1
30o
30c 675,850
16c
Cent Manitoba Mines Ltdl
Mar
Feb
64
Apr
123
75
3%
14%
Mar
14%
Cartler-Malarttc Gold
Mar
14%
119
Apr
«%
100
156
Apr
Mar
13%
53
24
155
Lindsay (C W)
Massey-Harris
MeColl-Frontenac Oil...
88
6.037
24
15C"
100
June
9%
5
51%
93
93
International Power pf. 100
I-ake of the Woods
100
Montreal
1,847
50%
51
.
Preferred.
92
13%
7%
--£1
Preferred..*
Int Nickel of Canada
13
91%
12 H
Howard Smith Paper..
QQ iZ
yy 7%
104
/55%
104%
56
102% 103%
/78
80
110% 112%
Quebec Power 5s
1968
Saguenay Power 4%s.l966
Shawinlgan W A P 4 %s '67
Simpsons Ltd 6s
1949
Smith H Pa Mills 5%s '53
Southern Can Pow 5s. 1955
Steel of Canada Ltd 6s '40
United Grain Grow 5s. 1948
United Securs Ltd 5 %s '52
Winnipeg Elec Os.Oct 2 '54
97%
-
«.
98
106
106%
102
102%
104% 104%
105% 106%
106
106%
105% 106
113
•
-
-
94%
96%
85
86
86%
87%
Volume
143
Financial
New York
Bid
o3%s
d3%s
a3%s
o3%s
a3%s
a3%s
July
1 1975.
City Bonds
New York Trust Companies
Ask
Ask
Bid
104% 104%
a4%s April 1 1966
115
May 1 1954.
107%
o4%s Apr 15 1972
Nov
1 1954.
107%
a4%s June 1 1974
115% 116%
115% 116%
Mar
1 1960.
106% 107%
106% 106%
a4%s Feb 15 1976
116
116%
116%
1965
116%
116%
11.7%
117%
118%
118%
1967
118% 119%
Jan 15 1976.
1975.
July
107%
107%
a4%s
a4%s
a4%s
a4%s
107
107%
112% 112%
112% 112%
Jan
1-1977
o4%B Sept
1960.
115
115%
Mar
1962.
115
115%
Nov 15
Mar 1
May 1
a4%s Mar 1
a4%s June 1
o4 %s July
1
o4%s Deo 15
a4%s Dec
1
115%
a6s
a4a
May
1957.
a4a
Nov
1958.
o4s
May
1959.
o4a
May
Oct
112% 112%
111% 111%
112% 112%
1977.
a4a
1980.
o4%s
Chronicle
a4%s Mar
1964.
115
—.
1978
1981
4 Not 1 1957
1963
115%
117
117%
118%
119%
119%
Par
Bid
Banca Comm Itallana.100
Bk of New York 4
Tr__100
Bankers
I20
Jan 25 1937
120
120%
121
...
1979
122
102716 102%
Empire
Fulton........
74
Guaranty
.100
12
Irving
..10
10
7
9%
8%
..10
123
128
140
143
Manufacturers
Continental Bank 4 Tr.10
Corn Exch Bk 4 Tr....20
66%
Ask
24%
25%
260
358
363
18%
17%
.100 1700
Lawyers
Central Hanover
..20
Chemical Bank 4 Trust. 10
Clinton Trust
...50
Colonial Trust
25
Bid
250
County.
Kings
II100
Brooklyn
..25
20
Preferred
68%
70%
75
85
New
13%
15%
Title Guarantee 4 Tr
20
.
1971
Par
115
527
72
io
Bank of Sicilly
Bronx County
Ask
105
522
21%
67%
Underwriters
1750
53%
51%
49%
51%
53%
51%
York
25
20
100
...
United States
147
150
12%
11%
85
75
100 2095
2145
p'
Chicago Bank Stocks
New York State Bonds
Bid
3s 1974
Ask
Ask
b 2.35
„
less
1
World War Bonus—
b 2.45
......
3a 1981
less
1
4%s April 1940 to 1949..
Highway Improvement—
Canal <fc Highway—
6s Jan 4 Mar 1946 to '71 6
2.85
Highway Imp 4 %s Sept '63
Canal Imp 4 %s Jan 1964..
134%
Can 4 Imp High 4 %s '65
4s Mar 4 Sept 1958 to
134%
131%
_
J
—
Barge C T 4a Jan
m
Bid
Trust..
...33 1-3
ser
3 %a '65
105
Gen & ref 3d ser
3%s '76
1939-53
102% 103%
J4J 3
845
885
152
100
BOUGHT
1942-1960
George Washington Bridge
M4S
1942-1960
113%
M4S
SOLD
—
QUOTED
PUTNAM
109% 111%
Members New
Holland Tunnel 4%s ser E
1937-1941
M4S 60.50 t 02.15
0.25
—
105% 106%
Inland Terminal 4%s ser D
1937-1941
M4S 61.001 O2.50
105%
112%
296
430
Hartford Insurance Stocks
Ask
Bid
106% 107%
Gen 4 ref 2d
1937-50. -J4D b
Ask
292
400
National
42 to '46
Bayonne Bridge 4s aeries C
4%s ser B 1939-53-M4N
Bid
100
Northern Trust Co
149
Continental Illinois Bank 4
'67
Ask
Gen 4 ref 4a Mar 1 1975.
B
Par
Harris Trust 4 Savings. 100
First
240
Barge C T 4%a Jan 1 1945.
Port of New York—
ser
Ask
215
Canal Imp 4s J4J *60 to '67
■
Port of New York Authority Bonds
4s
Bid
Par
American National Bank 4
Trust
100
6
112% 113%
Tel.
CO.
York Stock Exchange
CENTRAL ROW
5-0151
HARTFORD
A. T. T. Teletype
—
Hartford 35
United States Insular Bonds
Philippine Government—
Bid
4s 1946
Ask
Ask
Bid
3.50
1959.
100
101%
105% 107
Honolulu 5s
4%s Oct
U S Panama 3s June 11961
4%s July
1952
105%
Govt of Puerto Rico—
5s
Apri
1955.
101% 103%
4%s July 1958
6s
Feb
1952—
108% 110
5s July 1948
5%8 Aug 1941...
Hawaii 4%s Oct 1956
106%
113
115
115
117
3.00
1
Par
3.50
3.75
109
U S conversion 3s 1946
111%
112% 113%
112% 113%
Conversion 3s 1947
Bid
3a
1955 opt 1945——J4J
1956 opt 1946
J4J
3s 1956 opt
1946
3%s 1955 opt 1945--MAN
4s
1946
opt 1937...J4J
4%s 1957 opt 1937.^M4N
4%s 1958 opt 1938..M4N
1029,6
109% 1099,6
M4Nl
1937
104
M4N
4%s 1957
102%
opt 1944.—J4J
4s 1957 opt
Bid
4a 1958 opt 1938
100
Aetna Fire
Aetna Life
10
Agricultural
Ask
105
105%
101"is 102
102'®,6 1031,6
106% 107%
54%
.25
.10
84%
25%
American of Newark
.
.
Knickerbocker
Lincoln Fire
15
2%
25
10
2%
St., Chicago
Atlanta
5s
Atlantic
5s...
California
Chicago
5s.
'"•U«»-
97%
100
New
York
5s..
5s
.10
29%
26%
43%
26
4%
2%
5
99
100
First of Fort
Wayne
79%
91
Pacific Coast of Portland 5s
100
86
Pacific Coast of Los Ang 5s
Pac Coast of Salt Lake 5s.
100
Ohio-Pennsylvania 5s
100
5a..
First of Montgomery 5s._
84
First of New Orleans 5a...
92
94
First Texas of Houston 5s.
98
100
First Trust of Chicago 5s..
Fletcher 5s
100
Fremont 5s
78
Greenbrier 5s
Greensboro
-
100
101
••
108
5s_
36
6s
5a._
69
98
100
Kentucky of Lexington...
4
100
La Fayette 6s
/24
Par
97%
Virginia-Carolina 5s
93
Joint Stock
Bid
Virginian
Land
5s
Bank
100
101
97%
T
«
98%
Stocks
Ask
Par
Bid
Ask
100
15
25
33
37
100
Dallas..
100
65
68
100
12
18'
Denver
100
1
2
100
20
24
Moines
67
100
First Carollnas
100
2
Fremont
100
2
100
•
70
..
-
100
6
3
1(H)
Bank
7
21
5
4
Federal Intermediate Credit
120%
77%
13%
11%
99
101%
32%
34%
103
119
28%
122%
129
133
Phoenix
10
89
93
6
20
21%
43%
28%
Preferred
Accident
Providence-Washington. 10
Republio (Dallas)
10
Rochester
10
American
-.5
39
5
41%
26%
29
13,
206
32
14%
213%
11
13%
29
31
36%
38
41
Seaboard Fire 4 Marine..5
17%
19%
Seaboard Surety
55
57
Security New Haven
10
10
15
78%
83
Southern Fire...
40
26
28
5
preferred
28%
30
Springfield Fire 4 Mar..25
Stuy vesant..... ........5
140
143
Great Amer Indemnity -.1
8
11
7%
6%
....
Fire
10
22%
24
Sun Life Assurance
100
510
540
If)
Halifax Fire
20
27%
Travelers
100
560
570
10
36
38
10
26%
28%
U S Fire
75
78
U S Guarantee
74%
77%
Westchester
.10
Allied Mtge Cos Inc—
All series 2-5s
1953
U S Fidelity 4 Guar Co..2
4
10
2.50
Fire
19%
20%
57%
59%
56
59
36%
38%
Arundel Bond Corp 2-5s '53
53
1953
43%
Cont'l Inv Bd Corp 2-5s '53
1936 b
15
.30%
15 1936 b .30%
15 1936 b .35%
16 1936 6.40%
15 1936 6 .40%
25
53
Cont'l InvDebCorp 2-6s '53
45
Mtge Co
6s
5%s 4
1934-43
Nat
%
75%
45%
40
CC
Potomac Deb Corp 2-6s
40
CO
40
43
60
(Mtge Guarantee series).
Bondholders part ctfs
Bid
1
FIC1%S—Jan
1
FIC1%S—Feb
•
•
'53
1953
2-68
/S4%
Potomac Maryland Deben¬
1953
Potomac
Realty
Atlantic
Debenture Corp 2-6s '53
Realty Bond 4 Mortgage
79
ture
/35%
deb
/31
Corp 2-68
J..1953
2-6s
/3!
Bid
34
Bank of Manhattan Co. 10
Bonk of Yorktown__66 2-3
54
1
•
I
•
FIC 1%S—Mar
F I C 1 %s—Apr
FIC 1%8... July
15 1937 6.65%
15 1937 6.70%
Bank
40
43"
Telephone and Telegraph Stocks
—
Par
Bid
Teleg (N J) com.*
122
100
Par
Ask
127
—
1
-
New York Mutual Tel. 100
N'west Bell Tel pf 6 % %
100
60
National Bronx Bank
147
150
Pac 4 Atl
124
126
90
93
Peninsular Telephone com*
Preferred A
100
Cuban Telep 7% pref.. 100
48
Emp 4 Bay State Tel.. 100
Franklin Telegraph
100
63
Bell Telep
Par
Merchants Bank
36
of Canada.. 100
of Pa pref—100
Bell Telep
Stocks
Ask
Bid
100
80
50
20
Ask
44
m
48
Telegraph
Roch Telep $6.50 1st
So 4 Atl Telegraph
Sou New Engl Telep
National Safety Bank.12%
15%
24%
17%
pf.
99
100%
Penn
10
11%
12%
Int Ocean Telegraph... 100
101
103%
Tri States Tel 4
45
City (National)...... 12%
47
Peoples National
50
59
117
25
125% 127%
m
Exchange
Gen Tel Allied Corp $6
Commercial National.. 100
188
194
Public National
48%
50%
Lincoln Tel 4 Telegraph..*
Mtn States Tel 4 Tel.. 100
100
990
1020
Sterling Nat Bank 4 Tr.25
35
36%
New England Tel 4 Tel 100
First National of N Y..100 2125
2165
Trade
20
Fifth Avenue.
Flatbush National
National
100
60
Bank..
12%
140
27
100
25
...
For
Footnotes see
page
904.
-
...
144
Wisconsin Telep 7%
24
Ask
28
21
19
19%
109%
20%
'
....
112
114
25
100
21
24
pref. 100
Tel—
Preferred
Bid
117%
pf.100
S'western Bell Tel
52
50
43
/54%
50
National..50
40
/54%
Cincln 4 Sub Bell Telep.50
Par
43
Universal Mtg Co 6s '34-'39
34
...
40
74
Nat Deben Corp 2-6S.1953
15 1937 6 .65%
15 1937 6 .60%
York
New
67
Union Mtge Co 5 %s4 6s'37
Nat
(Mtge Security series)..
(all
Corp
15 1937 b .50%
1
Ask
Bond
Potomao Franklin Deb Co
Bondholders part ctfs
(Central Funding series)
Nat Bondholders part ctfs
76%
lssuos) 2-5s
1953
Potomao Cons Deb Corp—
2-6s
1953
Mortgage Bond Co of Md
1953
1954
Potomac
41%
2-6s
Inc 2-5s
56
%
1
>1
Series B 2-5s.
Ask
60
57"
77%
Home
Debentures
Ask
Nat Union Mtge Corp—
Series A 2-6s
1954
78%
Arundel Deb Corp 2-6s '63
Bid
Ask
78%
Preferred-
Kingsboro
22%
99
27%
25
Northwestern
5
Am Dlst
Bensonhurst
48
National. 25
2.50
Glens Falls Fire.
Nat Cons Bd Corp 2-5s '53
Bid
Nov
20%
37%
45
Pacific Fire
9%
50
River
St Paul Fire 4 Marine..25
Debenture
100
F IC 1%S
2
...12.50
Northern
North
Associated Mtge Cos Inc—
Atlanta...
FIC1%8...Dec
New York Fire
5%
76%
Bid
98%
Atlantic
Oct
28
45
26
27
100
5s
Union of Detroit 5s
mmm
91
Aug
45
72
Tennessee
80
100
F I C 1 %B
20
New Brunswick Fire....10
Surety Guaranteed Mortgage Bonds and Debentures
100
Southwest
78
Illinois of Montlcello 5s...
F I C l%s...Sept
10
New Jersey..
14%
101
Antonio
Southern Minnesota 5s
100
Iowa of Sioux City 5s
F I C 1 %s
New Hampshire Fire
45%
11
135
'
Illinois Midwest 5s..
Des
28%
13%
35%
43%
24
Georgia Home
131
109%
100
/32
San
-
-
2
.10
Hartford 8team Boiler. .10
Potomac 5s
—
-
20
New Amsterdam Caa
Rossla
Harmonla
100
5s
National Union Fire
23%
30%
24%
Hartford Fire
100
Phoenix
-
19
72%
22%
Alliance
Hanover Fire
100
Pac Coast of San Fran 5s..
-
17%
69%
9%
2
..1
General
Hamilton
Pennsylvania
81
-
98%
St Louis 5s
•
100
-
97%
6s
10
10
National Liberty
116
Philadelphia 10
Great American..
/52
89
6s
7%
47
2d
98
Oregon-Washington 5s
First Carollnas
43
10
Globe 4 Rutgers Fire.. .15
99
North Carolina 5s
101
98%
.
100
77 %
9%
1
Bonding 4 Ins. .12%
Globe 4 Republio
Ask
100
100
Mississippi-Tennessee
14
/14 -
58...
Dallas 5s
Denver 5a
National Casualty..
National Fire
.10
Franklin Fire
Maryland-Virginia 5s
100
36 %
34%
8%
Fidelity 4 Dep of Md.. .20
Bonds
Louisville 5s.
-
-
-
12%
638
Fireman's Fd of San Fran25
Bank
Lincoln 68
100
10%
21%
Fire Assn of
Teletype CGO. 437
Bid
98
99
59
Merch 4 Mfrs Fire New'k 5
628
Federal.
Ask
100
Burlington 5s.
55
55
69%
Continental Casualty.. ..5
State 0540
Land
Bid
52
Merch Fire Assur com.2%
100
Firemen's of Newark.. ..5
Joint Stock
Mass
..5
Excess
120 So. La Salle
Maryland Casualty
Carolina
&
6
16%
Connecticut Gen Life.. .10
MUNICIPAL BOND DEALERS
73%
14%
4%
3%
38%
28%
8%
76%
17%
5%
3%
79
104
Employers Re-Insurance 10
6
Ask
30%
100
Eagle Fire
36%
4%
26%
76
Shippers- .25
Fire
5
.5
Bid
28%
58%
City of New York
Bought—Sold—Quoted
Ins Co of North Amer__10
37
14
American Surety
Camden
10
Importers 4 Exporters—5
11
10
Automobile.
10
Homestead Fire
34
American Reserve
Boston
MUNICIPAL BONDS
27
b
Security
5
American Re-Insurance .10
Bankers 4
JOINT STOCK LAND BANK BONDS & STOCKS
87%
Home
Home Fire
.10
American Home
Baltimore Amer
104%
Par
Ask
104%
56%
34%
32%
10
American Equitable
Ask
100% 100'®,6
100% 100%
100% 100%
M4N
Bid
Aetna Casualty 4 Surety 10
American Alliance
Federal Land Bank Bonds
3s
Insurance Companies
117% 119%
10
pf.100
156% 158%
124
10%
115%
127
11%
...
Financial
902
1936
Aug. 8,
Chronicle
Quotations on Over-the-Counter Securities—Friday Aug. 7—Continued
DEFAULTED
Railroad Securities
Guaranteed Railroad Stocks
Offerings Wanted
3o$cpb Walkers Sons
Mem hen H™>
Members New York Security
Dealers in
120 Broadway
DUNNE&CO.
^ork Stock Exchange
/
Tel; RE
ctor
20 Pine.Street,
GUARANTEED
NEW YORK
Dealers Ass'n
JOhn 4-1360
New York
2-6600
STOCKS
Since1855,
BONDS
RAILROAD
Guaranteed Railroad Stocks
Bought
(Guarantor In Parenthesis)
Bid
in Dollars
Michigan Central (New York
177
182
6.00
102
3834
139
143
147
3.00
97
99
5.00
100
102
6.00
96
99
3.50
8734
89
2.00
48
60
2.00
46
48
5.50
80
10.00
190
Akron Canton A Youngs town
76
950
3.875
66
95
103
20
23
4.50
67
70
40
1.50
42
3.00
76
80
7.00
165
170
7.00
180
183
6.90
103
106
6.00
-—100
150
3.00
—.—100
United New Jersey RR A Canal (Pennsylvania)
100
Utlca Chenango A Susquehanna (D L A W)——100
Valley (Delaware Lackawanna A Western)
100
Vloksburg Shreveport A Pacifio (Illinois Central)—100
Preferred
.......100
Warren RR of N J (Del Lack A Western)
...50
West Jersey A Sea Shore (Pennsylvania)..—
60
3.00
Tunnel RR St Louis (Terminal RR)
•
77
7434
:
150
10.00
260
6.00
88
5.00
100
5.00
80
83
5.00
92
83
86
3.50
51
55
3.00
0734
70
—
——
—
—
—
.....
96
10334
84
69
/67
9934
9534
6534
100 x
9734
6634
101
-
-
90
88
10134
•
103 34
10234
1043;
40
/35
-
10434
.......—
78
76
Maryland A Pennsylvania 1st 4s, 1951
1955
.......—
Meridian Terminal 1st 4a,
...........
93 34
••
_
.
58
54
2d 4s, 1949....
95
Montgomery A Erie 1st 5s, 1956
7634
78 34
73
7534
92
90
9334
9134
9334
general 5e, 1940
Portland RR 1st 334s. 1951
9434
—
Consolidated 5s, 1945
Rock Island-Frisco Terminal 434s,
1957
1951
,/.
—-
85
Shreveport Bridge A Terminal 1st 5s, 1955—.—....—
Somerset Ry 1st ref 4s, 1955
.......
Southern Illinois A Missouri Bridge 1st 4s,
66
62
92 H
9134
9634
1113i
1951
3%a, 1946
434s. 1957
434s. 1966
Union Pacific debenture 334s, 1971—......
Southern Pacific secured
Toledo Terminal RR
Quotationa—Appraisals Upon Request
85
10234
—
1905
St Clair Madison A St Louis 1st 4s,
EQUIPMENT TRUST CERTIFICATES
83
86
80
1940
—
Kanawha A West Virginia 1st 5s, 1955
Kansas Oklahoma A Gulf 1st 5s, 1978
Little Rock A Hot Springs Western 1st 4s, 1939
Minneapolis St Paul A Sault Ste Marie
69
8034
83
Hoboken Ferry 1st 5s,
New York A Hoboken Ferry
■
10534
........
—
Georgia Southern A Florida 1st 5s, 1945
Goahen A Decker town 1st 534s. 1978......
Macon Terminal 1st 5s.
257
105
63
3a, I960......
1942
...—
Prior lien 434s. 1944
—
Convertible 6s, 1940-45
Buffalo Creek 1st ref 5s, 1901—
Chateaugay Ore A Iron, 1st ref 4s. 1942....
Choctaw A Memphis, 1st 5s, 1962
Cincinnati Indianapolis A Western 1st 5s. 1905
Cleveland Terminal A Valley 1st 4b, 1995
98
101
79
«•
100
—
Prior lien 4s,
68
6.00
4.00
77
76
93
Boston A Maine
1100
Asked
7434
634s, 1945
-
Augusta Union Station 1st 4«, 1953
Birmingham Terminal 1st 4s, 1957
Boston A Albany 1st 434s. April 1 1943
78
50.00
1946
68.
195
4.00
100
preferred
Bid
89
100
Central)
Bonds
Railroad
6634
4.00
Western)
60
(D L A W).._.100
Northern Central (Pennsylvania)
60
Old Colony (N Y N H A Hartford)
100
Oswego A Syracuse (Del Lack A Western).——
60
Pittsburgh Bessemer A Lake Erie (U 8 Steel)
60
Preferred
60
Pittsburgh Fort Wayne A Chicago (Pennsylvania)-.100
Preferred
;
100
Rensselaer A Saratoga (Delaware A Hudson)
100
St Louis Bridge 1st pref (Terminal RR)
..100
Bell System Teletvoe NY *i-48e
•
142
8.50
Morris A Essex (Del Lack A
HAnover 2-2455
•
3934
8.76
26
100
100
York
41 Broad St., New
& Co.
Dealers Association
106
2.00
New York Lackawanna A Western
Second
Members New York. Security
10.50
Request
Sloane
E.
John
Asked
95
6.00
Central)
100
Albany A Susquehanna (Delaware A Hudson)....—100
Allegheny A Western (Bull Roch A Pitts)
100
Beech Creek (New York Central)
60
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 Cino A St Louis pref (N Y Central)-.100
Cleveland A Pittsburgh (Pennsylvania)
60
Betterman stock
...60
Alabama A Vlckaburg (Illinois
(Pennsylvania)....
Fort Wayne A Jackson pref (N Y Central)
Georgia RR A Banking (L A N-A C L)
Lackawanna RR of N J (Del Lack A Western)
Quoted
—
Earnings and Special Studies on
Dividend
Delaware
Sold
—
9634
1123;
96
993;
66
Washington County Ry 1st 334s, 1954
97
98-34
Toronto Hamilton A Buffalo
68
Stroud & Company Inc.
Private
Wires te
Philadelphia, Pa.
York
New
GARLOCK PACKING COMPANY
Railroad
i
Equipment Bonds
Bid
b 1.75
434s
Baltimore A Ohio 4>4s
6e
1.00
54.25
2.00
58
53.75
2.50
2.00
5348—-
53.75
robinson, miller & co.
3.00
63.00
63.00
Atlantlo Coast Line
Quotations and Analysis
Ask
Bid
Ask
2.50
Missouri Pacific
434s
63.50
2.50
New Orl Tex A Mex
54.25
2.50
New York Central
52.85
2.00
63.30
2.25
52.85
2.00
63.00
2.00
63.00
2.00
Canadian Pacific 434s
Cent RR New Jer 434a ...
63.00
2.00
62.00
1.25
Chesapeake A Ohio 534s..
634s
*34*
61.50
1.00
^et®5
3.75
63.60
INC.
HA™e£h2°282 52 William Street, N.Y.
Boston A Maine 434s
6a
334s Deo 1 1936-1944..
58
N Y Chic A St L
Canadian National
434s..
6s
434s
5s
Northern Pacific
434s
Pennsylvania RR 434s—_
2.25
54.50
3.75
54.60
N Y N H A Hartf
3.75
52.00
1.25
80 %
82);
52.00
1.00
93 %
9434
52.00
0.50
6s
2.00
1.00
65.00
4.00
Jan A
1.00
62.85
2.00
113 34
4.00
62.75
6.00
Pere Marquette 4 >4 a
63.00
0.00
Reading Co 434s—
62.75
2%
Chicago RIA Pac 434s...
69
6s
69
73
73
non-call Deo 1 1936-50
62.75
5s.._
85
St Loula-San Fran 4s
Denver A R G West
65 00
3.76
65.00
3 75
6^8
63.00
5^8-Erie RR 534s
3.75
65.00
434s..
6a
2.50
Southern
68...
62.00
1.00
4^8..
63.00
2.50
6s
63.00
434s-IH!
6s
6S..IIH!
Hocking Valley
2.50
61.76
1.00
61.75
Great Northern
1.00
6s
75
80
83
)
75
77
1.75
52.65
1063; 1073;
61.60
0.75
61.60
0.75
61.75
1.00
1.00
Essex-Hudson
1.50
63.00
2.00
1.75
1.00
63.50
2.50
65.00
4.00
65.00
Union Pacific
4>4a
5s
Virginian Ry 4>4s
6s
61.75
preferred
Gas
)
)
100
98
11234 115
»
69
66
1C )
194
101
Foreign Lt A Pow units..
►
99
95
5s
100
102
122
1.00
634s
10034
10234
Gas A Elec of Bergen.. 10 )
Hamilton Gas Co v t c
2.50
6s
Hudson County Gas
Idaho Power $6 pref
194
4.00
Wabash Ry
434a
Western Maryland
102
100
Western Pacific 5s
62.50
2.00
62.50
434s...
5s
2.00
1C )
..
-
34
3;
►
109% 11054
10
)
11034 11134
►
55
56
Interstate
►
2434
26
►
23 34
2434
Empire Title A Guar...100
For footnotes see page
904.
11
Par
Lawyers Mortgage
_
..
-20
Bid
34
39
7934
80 3*
463;
473;
105
m
—
60 34
109
92 34
"
95
106 34
10734
110
112
*
110
1105;
Philadelphia Co $5 pref..*
Pub Serv of Colo 7% pf 100
88
9034
*
pref
Rochester G A E
9134
107
--
107
8734
89
Virginia
92
94
112
9034
7% B 100
►
83 34
102 34
109
109
92
92 34
99 34
81 %
113
107
100
preferred
90 34
8734
111
101
Queens Borough G A E—
*
)
55
104
102
11134 114
--
)
Memphis Pr A Lt $7 pref.
Mississippi P ALJ0 pf
38
*
Ohio Power 0% pref
100
Ohio Pub Serv 6% pf__100
7% preferred
100
Okla G A E 7% pref...100
Pacific Pow A Lt 7% pf 100
Ohio Edison $6 pref
6% preferred C
Sioux City G A
)
Ask
122
115
10534
)
Realty, Surety and Mortgage Companies
112
113
Nor States Pr $7 pref.. 100
9
pref.
33 34
7% cum preferred
100
N Y A Queens E L P pf 100
9
Natural Gas..
734
47
3134
107
H
4.00
preferred
534
44
105 34
Ask
4.00
65.00
7%
)
Bid
pf-*
N E Pow Assn 6% pf.-lOO
New Eng Pub Serv Co—
17 prior lien pref
*
New Jersey Pr A Lt $6 pf.*
New Orl Pub Serv $7 pf..»
0%
Illinois Pr A Lt 1st pref..
Interstate Power $7
Par
New Eng G A E 534%
100
E $7 pf.100
Sou Calif Edison pref B.25
South Jersey Gas A El. 100
Tenn Elec Pow 0% pref 100
7% preferred
100
Texas Pow A Lt 7% pf.100
Toledo Edison 7% pf A 100
United G A E(Conn)7% pf
United G A E (N J) pf.100
Utah Pow A Lt $7 pref
*
Utlca Gas A El 7% pf-.lOO
65.00
534s
Nebraska Pow 7% pf._100
Newark Consol Gas
100
17
7834
84
11534
19,
Penn Pow A Lt $7
1C )
1C
Dallas Pr A Lt 7 % pref. 1C
Derby Gas A Eleo $7 pref.
7%
100
preferred
$7 preferred
107
106
Continental Gas A El—
63.50
;
53
51
10534 106 34
1C )
0% preferred
6.60% preferred
1.50
61.75
4 Ms
106 34 107 34
)
1.75
2.00
11234
110
)
1.75
63.00
62.75
534S-...
pref... 100
114
Ask
N Y Pow A Lt $0 cum pf.*
)
2.50
63.00
5s
Texas Pacifio 4a
•
Lt^-
1.75
63.25
...
Columbus Ry Pr A
2.00
61.75
Minn St P A 8 8 M 4s
93
.99
)
62.50
62.50
6s...I
26
)
62.75
1.00
68
91 %
7934
3.50
5s
3.50
6^8..
4>4s
Southern Ry 434s
7%
10034
3.50
90
*34s
64.50
Maine Central
99 34
64.75
1.00
62.00
4348—11
Mountain States Pr com.*
54.75
2%
::::::
"
Mo Pub Serv $7
78
►
Internat Great Nor 434s_,
Long Island 434s
Loulav A Nashv
)
61.75
62.25
68
1234
115
62.65
.....
5s
preferred.
90
85
5s
St Louis Southwestern 5s
Pacifio
6%
►
62.85
Illinois Central 434s....
6^s
90
85
434«———-
25 H
2%
100
Nassau A Suff Ltg pf__100
7734
►
80
preferred
Miss Rlv Pow 6% pref.
7
121
2.00
66.75
Bid
7434
$7
13
12
preferred
2.00
66.76
6s
$7
2^s series G
65.00
Chio Milw A St Paul 434s.
5 34
1134
July 1936-49
Par
Ask
Bid
4s series E due
62.00
6s
Public Utility Stocks
2.25
53.20
62.60
Chicago A Nor West 434s.
53.20
434s
6s
61.00
6s
434s_.
434s__.
Ry
100
105
933;
-
-
1055;
97
99
2834
293;
194
-
-
Z693;
703;
793;
80 34
106
108
109 34
111
93
94
72
77
«
-
7834
101
103
135
138
Volume
Financial
143
Quotations
of
the
Specialists in
Associated Gas & Electric System
S. A.
903
Over-the-Counter Securities—Friday Aug. 7—Continued
on
Securities
Chronicle
O'BRIEN
Water Works Securities
Complete Statistical Information—Inquiries Invited
CO.
&
Member* New York Curb Exchange
150
BROADWAY, NEW YORK
SmRT.BRENT&Co.
"75 FEDERAL ST., BOSTON
COrtlandt 7-1868
HANcock 8920
.
INCORPORATED
Direct Private Telephone between New York and Boston
Bell System Teletype—N.Y.
Public
Bid
Amer States P S
5%s_1948
81%
Amer Wat Wks & El 5s '75
Aria Edison 1st 5s
101
1948
1st 6s series A
85
1945
1-1074
40 EXCHANGE
Tel.: HAnover 2-0510
'
PLACE, NEW YORK
Teletype: New York 1-1078
Utility Bonds
.4**
83%
102%
86%
Bid
Kan
City Pub Serv 3s. 1951
Kan Pow A Lt
Keystone Telep
OFFERINGS
Ask
52%
54%
109% 110%
102%
1st 4%s '65
5%s_1955
First
-■
95
Long Island Ltg 5s.—1955
105
99%
99%
Los Angeles G A E 4s. 1970
106% 106%
Ark Missouri Pow 1st 6s '53
Associated Electric 5s. 1961
68
70
69 %
70%
108% 109
Assoc Gas A EI Co
;
American Water Works & Electric Co., Inc.
"
93
Ark Louisiana Gas 4s .1951
WANTED
Mortgage Bonds of Subsidiaries
47 %
48%
Metrop Edison 4s ser G '65
Monongahela W P Pub Ser
Income deb 3%s
1978
Income deb 3%s.—1978
3734
38
Mtn States Pow 1st 6s 1938
38%
39%
Income deb 4s
42% "42%
4%s *58
Assoc Gas A Elec Corp—
1st A gen 4%s
1960
4%s.-_1978
Income deb
45
46
1973
Conv deb 4s
75
77
99
77
78
N Y Edison
1973
84
85
1973
91
93
Sink fund Income 4s 1983
46
48 H
1854
Tel. 2-3761
106% 107%
75
73
1st A ref mtge 3 %s.l966
Northern N Y Util 5s. 1955
Sink fund inc 4%8_.1983
Sink fund Income 5s 1983
Est.
PORTLAND, MAINE
Niagara Falls Power—
Conv deb
H. M. PAYSON a CO.
101
103% 103%
New York Cent Elec 5s '52
1973
Conv deb 5s
Consumers Water Co. (Maine)
105% 106%
Narragansett Elec 3%s '66
Newport N A Ham 5s. 1944
New Eng G A E 5s.— 1962
1978
106
Old Dom Pow 5s May 15*51
Conv deb
4%s
5%b
3%s
ser
98
99%
102
E '66
102%
105% 105%
64
66
Pacific Gas A El
55
Ask
3%s H '61
106
106%
1940
100% 101%
Parr Shoals Power 5s. 1952
102
Pennsylvania Elec 5s. 1962
104% 105%
102% 103%
110
110%
Penn
106% 107%
Brooklyn Edison 3 %s_1966
102
Potomac Elec Pr
100
103% 104%
103%
Atlantio County Wat 5s '58
102
105
Bid
Participating Ss.
102%
Telep Corp 1st 4s '65
Peoples LA P5%s ...1941
105
107
109""
100
102
Monongahela Valley Water
/so %
82%
103% 103%
3%s.l966
Public Serv of Colo 6s. 1961
Cent Ark Pub Serv 5s 1948
99
100
Central CAE 5%s
79
80
1st lien coll tr 6s
1946
1946
84
Cent 111 Light 3%s—1966
Conn River Pr 3%s A. 1961
Consol E A G6s A
1962
Util
San Diego Cons GAE 4s '65
Sioux City Gas A El 4s 1966
S'western Gas A El 4s. 1960
Tel Bond A Share 5s..1958
62
Edison El 111 (Boe) 3%s '65
Federal Pub Serv 1st 6s '47
81
80
109% 109%
99%
99%
Sou Calif Gas 1st 4s..1965
106% 106%
63
61%
104
104%
83%
85%
Sou Cities Util 5s A„1958
Utica Gas A El Co 58.1957
63
Virginia Power 5s
106% 107
/45
5%s.-1957
82"
124
1942
103% 105
lGi
102%
1957
1954
5 %s series A._
1954
Butler Water Co 5s...1957
89
91
103% 103%
103% 104%
99%
99%
Citizens Water Co (Wash)
6s
1951
5%s series A.
1951
City of New Castle Water
5s
104
Morgan town Water 5s 1965
M uncle Water Works 5s '65
104%
New Jersey Water 5s.
950
102
New Rochelle Wat 5s B '51
95
103%
---
10,5
5%s
102% 103%
103% 104%
102%
103% 104%
City W (Chat) 5s B...1954
105%
101%
1947
105%
n
1st A ref 6s
Bid
6s series A.,
1946
89
91
Plainfleld Union Wat 5s '61
108
Richmond W W Co 5s. 1957
105%
95
97
Rock A L Ont Wat 5». 1938
101%
97%
99%
St Joseph Water 4ssel9A66
Scranton Gas A Water Co
105
4%s
1958
Scranton Spring Brook
Water Serv 6s
1961
103% 104%
Connellsvllle Water 58.1939
100%
Consol Water of Utica—
Roanoke W W 5s
19
...
103
196(
104
105%
103% 105%
Sou Pittsburgh Wat 5s "55
107
108
Rid
/40
42
Broadway Motors Bldg
6s stamped
1948
/64
66
Munson Bldg 1st
66%
Chesebrough Bldg 1st 6s '48
Chrysler Bldg 1st 6s..1948
74
76
91%
93%
Court A Remsen St Off Bid
Deb 5s 1952 Legended
/27%
unstamped
8
Ask
29%
80%
79
80%
53
Film Center Bldg 1st 6s '43
-
-
1958
1939
1400 Broadway Bldg—
71%
73%
72%
/43
Union Water Serv 5%s '51
Water Serv Cos Inc 5s. 1942
101% 103
102% 104%
West Virginia Water 5s '51
102%
3%s
1966
6s
10%
1944
1949
68
/48%
—
1946
67
65
67
90
92
/59
61
Hotel
Lexington 1st 6s '43
Hotel St George 4s
1950
Keith-Albee Bldg (New
Rochelle) 1st 6s
50%
68%
100% 101
/50
Lincoln Bldg inc 5%s_1963
52
1st 6%s (L I)
98
1S42
72%
1936
72%
101
1st mtge 5s
..1951
1st mtge 6%s
102%
11/50
108"
Westmoreland Water 5s '52
Jopiin W W Co 5S....1957
104% 105%
Wichita Water Co 5s B. '56
Kokomo W W Co 5s__1958
104%
Lexington Wat Co 5%s '40
99%
106
98
102%
104"
102
I960
104%
6s series A
lOl"
100%
97% 100%
101%
5s series C
1949
103
W'msport Water 5s—1952
103%
BURR & COMPANY INC.
Chicago
101
-
--
------
19th A Walnut Sts (Phila)
1st 6s
July 7 1939
93%
51%
—
NEW YORK
-
Boston
57 William St.
/45%
/38%
46%
57%
/39
/30%
39%
Store
Chain
Securities^
...
32%
/7
1 Park Ave 6s__Nov 6 1939
66%
65%
69%
53
55
Chain Store Stocks
Co
5%s double stpd...1961
Realty Assoc Sec Corp—
income
1943
38%
/18
20
6s
1945
Diamond Shoe pref
/18
Edison Bros Stores
May 15 1948
61 Bvay Bldg 1st 5%s 1950
General 7s
1945
1958
23%
20
55
22%
53%
55%
/II
Rose 5-10-25C Stores
Schiff Co preferred
._*
Stores
6% pref ctfs
U S Stores preferred
100
preferred
122
4
7
30
35
103
112
5
100
100
115"
103
pf-100
100
24%
24%
2
28
27%
5
63
Sugar Stocks
98
1st fee A leasehold 4s *48
105
(Daniel) pref...100
United Cigar Sts 6 %
7% pref.. 100
preferred
*
54%
Trinity Bldgs Corp—
1st 5%s._.........1939
Walbrldge Bldg (Buffalo)—
1st 6%s
Oct 19 1938
Westinghou.se Bldg—
Reeves
100
pref 100
Katz Drug
7%
Ask
15
/50%
/52%
119
6%%
Green (H L)
Kobacker
Bid
12
11%
108% 110
preferred.
100
Sons com
*
preferred—-.100
Murphy (G C) $5 pf
100
Neisner Bros pref
100
4%%
Miller (I)
Fish man (M H) Stores...*
Preferred
100
25%
100
Melville Shoe—
*
.*
Bohack (H C) common..*
7% preferred
100
$2.50 conv pre!
/36%
6% pref
I^erner Stores pref
100
Bickfords Inc
Roxy Theatre—
Savoy Plaza Corp—
Realty ext 1st 5%s.l945
Kress (S H)
Borland Shoe Stores..—*
preferred
B/G Foods Inc com
51
Par
Par
7%
51
/49%
2 Park Ave Bldg 1st 4s 1941
...
Ludwig Bauman—
(Bklyn)
-
Syracuse Hotel (Syracuse)
1st 6%s
Oct 23 1940
66
1st 6s
5%s series Q.
Textile Bldg 1st 6s
92%
/49
1950
36%
/56%
...
60 Park PI (Newark) 6s '37
616 Madison Av 1st 6%s'38
65%
Lewis Morris Apt Bldg—
1st 6%s
Apr 15 1937
London Terrace Apts 6s '40
1958
):. '
5%s series BK
1st 5%s
75
Lefcourt Manhattan Bldg
1st 4-5s extended to 1948
100*"
Western N Y Water Co—
6s series B
Interstate Water 6s A. 1940
Jamaica Water Sup 5 %s> '55
36%
Sherry Netherland Hotel—
i
1936
Loew's Theatre Re alt Corp
l«6s
1947
35
34%
11%
71
50%
Harriman Bldg 1st 6s. 1951
Hearst Brisbane Prop 6s '42
97
W Va Water Serv 4s. .1961
72%
1st fee A 1'hold 6 %s. 1940
1941
102
103
104%
29%
N Y Title A Mtge Co—
5s
stamped...1948
Graybar Bldg 5s
71
/28
1st mtge 2s stmp A reg'55
1st A gen 6s.
1946
Prudence
Fox Theatre A Off Bldg—
5%s unstamped
1945
165 Bway Bldg lst5%s *51
-
29
/49%
40 Wall St Corp 6s
42 Bway 1st 6s
105
103
—
Oliver Cromwell (The)—
1st 6s
.Nov 15 1939
45%
29%
Fuller Bldg deb 6s
95
103 E 57tb St 1st 6s.. 1941
1949
26
Oct 1
94
6%s.l939
5%s series F-l.
51%
52d A Madison Off Bldg—
6s
N»v
1947
1st 6 %s
90
....1947
5%s series C-2.
..
80~"
103
Texarkana Wat 1st 5s .1958
•
57%
34%
602 Park Ave 1st 6s..1941
1st 6%s
1948
N Y Eve Journal 6%s.l937
/55.
/32
500 Fifth Avenue—
6%s
6s.......
S f deb 5s
50 Bway Bldg 1st 3s Inc '46
102%
.78%
10,3
103
N Y Athletic C ub—
63%
1st A ref 5 %s
.1947
n
Equit Off Bldg deb 58.1952 —78%
94%
101% 102%
100% 101%
1949
6s series A
Metropolitan Corp (Can)
6s
Apr 28 1940
1960
5s series B
Terre Haute Water 5s B '66
93
Metropol Playhouses Inc—
1945
1st 6s
1960
5s series A
102%
Illinois Water Serv 5s A '52
Metropolitan Chain Prop—
1st leasehold 6%s..l944
Dorset (The) 1st 6s...1941
East Ambassador Hotels—
1967
Sedalla Water Co 5%s '47
South Bay Cons Wat 5s '50
102
105
1st A ref 5s A
1950
101
6s
Majestic Apts 1st 6S..1948
32%
32%
Chanln Bldg Inc 4s
108%
5s
/31
/31%
Certificates of deposit...
B'way A 41st Street—
107
99
Huntington Water 5s
Ask
/42%
103
103
100
Real Estate Bonds and Title Co. Mortgage Certificates
/51%
101
1948
Pittsburgh Sub Wat 5s '58
1st mtge
Jan 1 1941
100% 102%
99%
1948
1948
Prior lien 6s
IndianapoilB W W Securs
(The) 1st 6s '41
B'way Barclay 1st 68.1941
96
103%
Pinellas Water Co 5 %s '59
Indianapolis Water
Broadmoor
102
85%
v&t
Bell System Tel.
nY 1-688
.
150 Broadway, N. Y.
Alden 1st 6s
...1950
Phila Suburb Wat 4s_.1965
100% 102%
INCORPORATED
.•»-*
94
106
83%
5 %3 series B
2360
93%
99% 101%
Ore-Wash Wat Serv 5s 1957
—
Greenwich Water A Gas—
BArclay 7
101
1946
5s series D...
BAKER & CO.
91%
5 %s series B
Reports—Markets
AMOTT,
99
108
1st consol 4s
Community Water Service
104%
Estate Securities
99% I0i%
Peoria Water Works Co—
103
105
vVJ-i
Ohio Water Service 6s. 1958
104
99
1st consol 5s
102
Public Utilities—Industrials—Railroads
Newport Water Co 58.1953
Ohio Cities Water 5%s '53
Ohio Valley Water 53.1954
—
E St L A Interurb Water-
Real
1951
Penna State Water 5 %s *52
Penna Water Co 5s... 1940
101%
1st 5s series C
1957
Clinton W Wks Co 5s. 1939
...1957
102%
103%
102%
5%s series A.
103
101
1941
4%s
1961
1950
New York Wat Serv 6s *61
Calif Water Service 4s 1961
Chester Wat Serv 4%s '58
5sserle8 C
100
107% 107%
Wise Pr A Light 4s.-.1966
Wisconsin Pub Ser
68 series C
5s series B...
Commonwealth Wat (N J)
98
Western Mass Co 3%s 1946
Wisconsin G A El 3%sl966
1st mtge 4s
126
106%
WashA Suburban 5%s 1941
Western Pub Serv 5%s *60
West Penn Pr 3 %s ser I '66
Green Mountain Pow 5s '48
Iowa Sou Util 5%s.^_1960
82
85
107% 107%
105% 106
Colorado Power 5s. —1953
105% 106%
1948
91%
93%
105% 105%
105%
Columbus Ry P A L 4s '66
105% 106%
3%s D '60
Pub Util Cons 5%s
107%
107
Cent Ind Pow 1st 6s A 1947
Cent Maine Pr 4« ser G 60
Federated
Pub Serv of N H
6%s^
Birmingham Water Works
Ask
Long Island Wat 6 %s. 1955
Middlesex Wat Co 5 %s' 57
Monmouth Consol W 5s '56
.105
Bellows Falls Hy El 5s 1958
Blackstone V G A E 4s *65
Alabama Water Serv 5s '57
Alton Water Co 6s
1956
Ashtabula Wat Wks 5s '68
103
49%
81nk fund inc 5%s..l983
Water Bonds
Bid
Par
Bid
Par
Ask
Bid
/27%
/ 72
Cache La Poudre Co
20
Savannah Sugar Ref
*
21
126
1
32
34
preferred
100
West Indies Sugar Corp__l
Preferred.....
~
Ask
126
1
23%
19%
24%
Eastern Sugar Assoc
67"
....
mm
Haytlan Corp Amer
*
75
For footnotes see page
904.
%
1%
7%
3%
3%
904
FOLEY
QUAW &
BROAD STREET
Members New York
DISTRIBUTORS GROUP. Incorporated
63 Wall Street, New York
BOwling Green 9-1420
NEW YORK
Curb Exchange
Investing Companies
securities
reorganization
securities
issued
rights
Amer Business
HAnover
Security Dealers Assn.
ST.; N. Y.
BROAD
2-8780
Cal.
Antfeles,
Los
Teletype N Y 1-1397
1.32
7%
Assoc Stand
Molybdenum Co.
Climax
Central Nat Corp cl A
Members
/New York Security Dealers
j Commodity Exchange, Inc.
6%
mod
BOwllng Green 9-3565
Series AA
Series ACC mod
Over-the-Counter Market
1920
Amer Air Lines Ino
Amerlcan
*
Arch
American
v t c._
Book
100
11%
33
69
72
8% cumul preferred
25
American Hardware
*
Amer Maize Products
313*
31%
100
Preferred
1
100
Voehringer
-100
21
78
Preferred
National
....
*
*
Art Metal Construction.10
47
15 3*
16%
Type com
6% preferred
...100
New Haven Clock pf
100
Beneficial Indus Loan pf_*
52 3*
54
Northwestern
American Republics
Andian
com.*
National Corp
Bowman-BUtmore
Nat Paper A
5%
53*
49
Norwich
Hotels
1st preferred
100
2
Ohio
3%
Yeast—100
-5
*
Pharmacol
Leather
Ohio Match Co
Canadian Celanese com..*
27
29
...100
118
122
Carrier Corp 7% pref.,100
Climax Molybdenum.—*
70
74
41%
43%
.....
Columbia Baking com
12%
13%
*
Petroleum Con version ...1
Publication Corp com
*
$7 1st preferred
100
SI cum pref
Columbia Broadcasting A »
Class B
•
24%
26%
Remington Arms com
56%
58%
Scovlll Mfg..
Preferred
*
Crowell Pub Co oom.^
$7 preferred
100
Dentists' Supply Co of N Y
*
Dictaphone Corp
55%
;—100
56% Stromberg-Carlson Tel Mfg
Sylvania Indus Corp
*
*
51~" Taylor Milling Corp
Taylor Wharton Iron &
Steel com...
*
Trlco Products Corp
*
16
Tubize Chatlllon cum pf.10
74
Unexcelled Mfg Co
..10
1%
United Merch A Mfg com *
5% Un Piece Dye Wks pf. .100
50
47
53%
100
48
101%
51%
14
Douglas Shoe preferred. 100
Draper Corp
*
71
Flour Mills of America
■IN
*
Foundation Co—
Foreign shares
American
*
*
shares
Galr (Robert) Co com
Preferred
.-*
....100
com
Great Northern Paper
(FL) Co
West
47%
25
_1
23%
24%
22.60
4.35
4.60
7.50
8.30
Standard Utilities Inc
1.27
1.
8tate Street Inv Corp
1.18
*
* 110.68
1.81
31.39
3
26.22
7.13
Trustee Standard Invest
7.35
Trustee Standard
3%
21
16%
17%
Trusteed N Y Bank Shares
1.78
2.02
U S El Lt A Pr Shares A__
20%
21%
3.22
3.32
1.30
1.38
1.16
1.51
1.64
1.33
1.45
Un N Y Bank Trust C
1.51
1.64
1.41
Wellington
2%
1.23
3%
40%
,1.74
1.36
4
3%
3..
1%
2%
19.19
Fund
21.04
Bancamerlca-Blalr
First
Boston
Corp..
•7%
44%
'45%
6%
Corp
7%
Schoellkopf, Hutton A
24
.35
Pomeroy Ino com
.50
25.85
Investors..*
Investm't Banking Corps
1
1%
22
Incorporated
27.80
103
4%
3%
ISoviet Government Bonds
35%
34%
335
340
25%
27
39
41
9
Bid
Ask
Bid
1
7% gold
io"
rouble.194311
28%
19
9
10
d
46%
91.15 1
10% gold rouble.-.1942
Ask
87.421
29%
17
87.42
I
Repub
Union of Soviet Soo
M
Union of Soviet Soo Repub
149%
York Curb Exchange,
44%
103
*
109
2%
2%
12%
13%
8
No par value,
a
< When Issued,
w
X Quotations per 100 gold rouble bond
equivalent to 77.4234 grams of pure
40
102
gold.
NOTICES
102
100
x
Exchange.
t Now listed on New York Stock
CURRENT
..*
e Registered coupon (serial).
Ex-dlvtdend. y Now selling on New
Interchangeable, b Basis price,
f Flat price,
Coupon,
9%
preferred
Preferred.
17%
19
—Anderson &
104
New
7%
West Dairies Inc com v t c.
36%
38%
41
$3 cum preferred..
..
White (S S) Dental Mfg.20
16
17
33
36
White Rock Mln Spring—
25
the
management services
Inc.", of Boston announces
purpose
its entry into the
of providing comprehensive
of the Boston type
investment
•
will be located at 250
New York office
C. Sise will be in charge as New
35
and
to corporations, trustees
estate owners in this city.
100
preferred
Cromwell,
York field, for
The firm's
100
Wilcox-Glbbs common..50
$7 1st
York representative.
Park Ave. Charles
By means of direct
facilities will be available to
34%
36%
250
Worcester Salt
100
55
60
110
Young (J S) Co com...100
120
100
126
clients for the
rapid interchange of information
18%
WJR The Goodwill Station
20
120
preferred
7%
Bid
Bid
Ask
112
97
100
in
between New York and the home office
Boston, where all the details of research and investment management
are
Ask
Home Owners' Loan Corp
1%8
l%a
Bear Mountain-Hudson
2s
102
l>*s
102%
15 1936
Aug 15 1937
Aug 15 1938
June
1 1939
Aug
98
103% 103%
100
101.12
100
101.2
6%s.l937
88
101.5
handled.
-
Stock Exchange, announce
that Byron G. Webster, Co-manager of their Chicago office for the past
year, has been admitted to general partnership in the firm as of August 1.
Before he joined Graham & Co., Mr. Webster had been associated with
Harris, Upham & Co., for whom he opened a Chicago office in 1929,
shortly after that firm was organized. For a number of years previously,
he had been in charge of the activities of Harris, "Winthrop & Co. in Minnemembers of the New York
Shipbuilding 5s-.1946
—The
72
101
2 101
/16%
5
18
Wltherbee Sherman
Woodward Iron 5s
Steel—
1961
Reynolds Investing 5s 1948
Scovllle Mfg 5%s
1945
Std Tex Prod 1st 6%s as '42
Struth Wells Titus 6%s *43
/37
95
97
102% 102%
6s *44
1952
88%
106
/io%
90%
107
12%
81
/15
/63%
new
investment firm
.
39
101% 102
70
aoplis and St. Paul.
93
98
N Y
3
101.5
102.12 102.16
Merchants Refrig 6s..1937
Nat Radiator 5s
1946
Journal or uomm
102% 102%
Voting trust ctfs
1.34
1.60
1.25
Preferred
43%
B
__
shares
1.62
1.46
,
Un N Y Tr Shs se rF_
1.29
shares
Huron Holding Corp
7
110
Laughlln
Trusteed Industry Shares.
Guardian Inv Trust com.*
107
103
.
1.29
1.17
1.78
RR Equipment shares
18
-
.
Trusteed Amer Bank Shs B
Tobacco shares
45
-
1.68
Steel shares
80
-
.
-
1.64
Mining shares
43
■
2.15
1.06
Petroleum
■
.<
2.26
Merchandise
85
7.06
6.34
Food shares
22
20
....
3.06
1.55
5
■
....
3.13
C
Oil Shs A
Investing shares
50
112
W
1.
2.09
shares
shares
Chemical
47
Supervised Shares
B
Building shares
101
«
-
15.79
14.52
D
6.69
General Investors Trust
-
....
8.24
i.
6.43
100
100
4%s
D
5.87
■■
8.24
C._
5.40
'
'/
2.78
24.63
Automobile
Miscellaneous Bonds
A
12.72
10.60
L_
—Graham & Co.,
Jones
4.39
BB_.
100
8% preferred
2.78
B
31.44
teletype service, convenient
Lawrence Portl Cement 100
Lord & Taylor com
1st 6% preferred
4.19
A
AA
44
41
29.18
Agricultural shares
62
2%
Super Corp of Am Tr Shs
33.73
5.10
115
58
~i%
-
21.70
Selected Industries conv
Group Securities—
'6%
5%
-
w
pf
25c
28%
26%
113
pref .100
Va Pulp A Pap com.*
$3 conv
Welch Grape Juice
102
—
—
-
~
Spencer Trask Fund
*
Standard Am Trust Shares
Warren Northam—
7
...
Klldun Mining Corp
2d
Standard Screw
36%
44
70
39%
Graton <fe Knight com
Jacobs
~
6%
5%
33%
10
Great Lakes SS Co
5%
*
Gen Fireproofing $7 pf.100
Preferred
4%
_*
Golden Cycle Corp
Sparta Foundry common
Standard Cap & Seal
5
108%
120
Doekler Die Casting pref. *
Preferred
.50
»
25
Singer Manufacturing. .100
58%
53
__100
Preferred
Dixon (Jos) Crucible
Pathe Film 7% pref
56%
68
110
Casket
Preferred...
83
-
4~. 15
3.73
B
12%
2%
warrants..:
preferred
Mock Judson A
32%
17
29%
100
American Mfg
-
-
Fundamental Tr Shares A.
Ask
Bid
11%
*
Merck & Co Inc com
6%
-
5.40
Fundamental investors Inc
Par
.
Maytag
106
10.28
Foundation Trust Shares A
Preferred.
American Hard Rubber—
3.97
...
Macfadden Publlca com..
12%
30
-a
.75
1.93
1.77
Inc
Selected Income Shares.
3.88
10%
Eqult Inv Corp (Mass)..5
Equity Corp cv pref
1
Fidelity Fund Ino
Fixed Trust Shares A....*
Tel. BArclay 7-0700
..
5.20
.60
5.30
Dividend Shares
Teletype NY 1-1493
Ask
Bid
14.26
4.90
D
Industrial Stocks
Par
13.76
4.95
B
J"
1.93
C
Security Dealers Association
Members New York
3%
1.11
1.75
Selected American Shares.
3.00
2.70
Diversified Trustee Shs B
Bristol & Willett
11B Broadway. N. Y.
Bell System
15
1.00
Selected Cumulative Shs..
6.35
Cumulative Trust Shares.
Deposited Bank Shs ser A
Deposited Insur Shs A
Deposited Insur Sh ser B.
.
73
43
'
Selected Amer Shares
110
100
7% preferred
38
36
10
Common B shares
Established
115
.100
8% preferred
30%
28%
10
Crum A Forster Ins com
-
3
•
Plymouth Fund Inc A. 10c
Quarterly Inc Shares..25c
Representative Trust Shs.
Republic Investors Fund.5
Royalties Management..
3.61
—
...
40
14
Class B
-
.
69
Securities—100
pref.*
Class A
2.84
-
—
3.62
Pacific Southern Inv
3.61
-
-
3.59
<
Northern
•r
3.64
Series 1958
.
_
2.78
Series 1956
10%
2.14
78%
74%
Series 1955
1
2.84
Series AA
in the
4%
29.22
9%
Accumulative series
COMPREHENSIVE SERVICE
No Amer
2.93
'
Teletype N. Y. 1-1666
New York
61 Broadway,
Shares..
Bond Trust ctfs.
Tr Shares 1953..
1
Corporate Trust Shares..
Association
4.76
certificates.
4%
Continental Shares pref
UNTERBERG & CO
.
..
18.05
27.17
Class B
Century Trust Shares
Commercial Nat'l Corp.
C. E.
No Amer
.
29.81
1.98
19%
4.65
.
10.82
28.15
4.66
Voting trust
42
25.01
3%
10.00
N Y Bank Trust
4.25
-
16.52
21%
39
-
1
Nation Wide
35.95
Fund Ltd
-
Securities.. 1
Mutual Invest Trust
~~52
33.61
.
Canadian Inv Fund Ltd
Industrial Corp.
Sylvania
4%
3%
.32
Broad St Invest Co Ino.
Bullock
Major Shares
Maryland Fund Inc com..
Mass Investors Trust
1
4.94
British Type Invest A
<»
23.35
Fd Inc B-3
Corp
*
Keystone Cust
-:i 4%
6%
10
42
1.21
4%
44
42
7% preferred...
—*
110.93 113.17
Investors Fund C
6%
Investment Tr of N Y__.*
12%
1.09
1.17
1.03
of Amer..
Invest Co of Amer com.
2.26
11%
Oil Shares...
Bankers Nat Invest Corp
Basic Industry Shares
Investors Fund
23%
1.21
Corp
Shares.
Amer & Continental Corp
Amer General Equities Inc
Am Insurance Stock Corp*
Arnerex Holding
Established 1919
the New York
25
2 06
22%
Affiliated Fund Inc com.
Co.
M. S. Wien
Members oj
Ask
19.18
Ask
Bid
Par
Bid
18.03
Par
Fund
Administered
'
Trading Correspondent
Kneeland 8C Co.—Western
2-9030
Telephone HAnover
Securities
Company
Investment
Quoted
Bought, Sold &
when
Specialists in all
VT C
HAMILTON GAS CO.
30
Aug. 7—Continued
Qver-the-Counter Securities—Friday
Quotations on
1936
8,
Aug.
Chronicle
Financial
17
65%
the opening
The
out
of E.
W. Thomas & Co., Inc., announce
of offices in the Field building,
principals, all of whom are well known
the middle west and east are:
and W. E. Terwilliger.
Messrs.
Allyn and Co., Inc., and Messrs. Teter
Tracy, Inc.
,
formerly associated with A. C.
and Schmit were with Rogers &
.
—First of Michigan
state and
Park Teter
vice-presidents; and Emil P. Schmit, secretary.
and Terwilliger were
Thomas
135 S. La Salle St., Chicago.
in investment circles through¬
E. W. Thomas, president;
Corp., 1
Wall St., New York, has issued a
municipal bonds yielding from 2.20 to
3.30%.
list of
Volume
Financial
143
Quotations
Shares
3
Friday Aug. 7—Concluded
Bid
121%
1946
Bank of Colombia 7%.1947
Bank of Colombia 7 % 1948
131
119%
97
-1953
1939 138%
Housing & Real Imp 7s '46 122
/28
Hungarian Cent Mut 7s '37
Hungarian Discount & Ex
change Bank 7s
.1936 /29
Hungarian defaulted coupe /20 40
Hungarian Ital Bk 7 Ha '32 /27
ILseder Steel 6s
1948
/25
36 %
Jugoslavia 5s
-.1956
144 55
Ctoupons.——
Koholyt 6Ha
1943 f22H
Haiti
23 H
34
Barranqullla 8s'35-40-46-48
119%
117%
20 H
18
1945
124 %
25 M
/20
23
_
Bavaria 6 Ha to..
Palatinate
Bavarian
Cons
Clt 7% to
1945
Bogota (Colombia) 6 Ha '47
8s
fl5%
Bolivia
(Republic) 8s. 1947
■7*—»i„1958
7s
17
8%
6H
/6
1969
6si»._—»
16^
/ 16
/8
...—1945
—
6%
Land M Bk Warsaw 8s '41
6 a/8
23
70
16
/6
..1940
Leipzig O'land Pr 6%a '46
Leipzig Trade Fair 78.1953
Luneberg Power Light &
..118
13%
24%
13%
53^
12^
30%
14%
$100
par
23 H
25 Package Machinery CO., commons
2 Goodall Securities Co. .„...—.—.... * . A
6%
—
$100...
par
16 Sanford Mills
6 Wamsutta Mills, par 8100.
11 Boston Herald Traveler
Corp
25 Saco Lowell Shops, 2nd pref., par $100
13 Springfield Gas Light Co., par $25
Hansa 88 6s stamped.
20 H
s per Share
Ask
Bid
Ask
...1946
Antioquia 8%
Stocks
Chicago Junction Rys. & Union Stock Yards, pref.,
15 Farr Alpaca Co., par 850
40 Nashua Manufacturing
Co., pref.,
15 Farr Alpaca Co., par $50
Foreign Unlisted Dollar Bonds
Anbalt 7s
905
By Crockett & Co., Boston:
Over-the-Counter Securities-
on
Chronicle
Bonds—
16
35
—
- -
.
.
J . *;U— -
.....
'
;••••
$1,000 Amoskeag Mfg. Co. 6s, due Jan. 1,
45j^
Per Cent
1948
.-70% flat
...
By Barnes & Lofland, Philadelphia:
27 H
Shares
37%
15 Drueding Brothers Co., common, par $100............
Stocks
24%
/45
/27
S per Share
,
50
Philadelphia National Bank, par $20
20 Central-PennNational Bank. par $10.........
106%
......
......
25 Corn Exchange National Bank & Trust Co., par $20
50 Camden Fire Insurance Association, par $5
40
.....
-
...
1
......
...
37%
54
—
23%
/26
Brazil funding 5% .1931-51,
Brazil funding scrip
121%
f59%
/ 72
Bremen
V2.2H
24 %
Mannheim & Palat 78.1941
/18H
21H
Merldionale Elec 7s—1957
69
...1959
1952
/57
/53
1945
f23H
25
Munlc Bk Hessen 7s to '45
/21H
23 H
Brandenburg Elec 6s__1953
7s '35
(Germany)
6s 1940
British
Hungarian
/28
7s
Coal Ind Corp—
6^8—_
...1948
7%
Montevideo 6s
Bank
1962
7Ha
Brown
Water
Munich 7s to
f24%
1953
50
Buenos Aires scrip
/49
Burmelster & Wain 6s. 1940 /no
Municipal Gas & Elec Corp
Recklinghausen 7s ..1947
Nassau Landbank 6 Ha '38
Natl Bank Panama 6H%
113
Caldas (Columbia) 7Ha'46
Call (Colombia) 7%_.1947
110%
fll%
11%
12%
Callao
/10
10 H
AO H
/2
11
C C & D 7—1948-1949
5
f22H
/23
By A. J. Wright & Co., Buffalo:
25
Shares
26
Stocks
$ per Share
10 Zenda Gold Mines
71
123
10c.
Ohio Listed and Unlisted Securities
25%
123%
..'
26
Members Cleveland Stock Exchange
Nat Central Savings Bk of
(Peru) 7H%_.1944
Cauca Valley 7 J^s
1946
Ceara (Brazil) 8%
1947
Chile, Government—
1962
National Hungarian <fe Ind
Mtge 7%
...1948
North German Lloyd 6s '47
14 %
f!3%
fl3H
6s assented
14%
67
68^
$
Cordoba 7s stamped..1937
/55
5s
A.
—
.
73
49
f2lH
23 H
/54
/15>*
56
121H
23 H
/35
/28
45
32
Last
Week's Range
for
/38
42
Sale
of Prices
Week
115 H
m
16
24
121H
23
Porto Alegre
Protestant
118
23
45
50
/24
25%
25 H
Saarbruecken M
/28
my*
25
/10H
11
1 23
Duesseldorf 7s to
f2lH
f21H
/22
many) 7s
26
23
Dulsburg 7% to
1945
East Prussian Pow 6s. 1953
Electric Pr (Germ) 6 H s '50
6^s.
1953
%
23
23
European Mortgage <fc In¬
vestment 7%b.~
Frankfurt 7s to
1966
1945
Salvador
French Govt 5 Ha- —-1937
French Nat Mail 88 6s '52
/76
German Atl Cable 7 s.. 1945
/26
Santa
145"
25
27 H
8
170
Feb
15
Feb
Aug
20
45
May
70
Jan
35J^
15
100
12
Jan
30
Mar
22
36
Feb
60
Mar
100
104
104
Hanna (M A) $5 cum pref *
102
102
37
38
/44 55
Serbian coupons..
Slem & Halske deb 6a.2930 /285
Halle Bros pref
—1940 1100 H
—
175
Leland Electric
161
McKee (A G) class B
Toho Electric 7s..
15H
Tolima 7s
98
Tucuman
1955
—.1947
City 7s
1951
no"
117H
United Steamship 6s..1937
94 %
110H
Unterelbe Electric 6s. 1953
Wurtambere 7s to
Miller Whoesale Drug— .*
Monarch Mach Tool
99%
Murray Ohio Mfg
101
99
1947
..
125H
121
27 H
23 H
1945
Vesten Elec Ry 7s
24
/21
UH
125
26 H
z
-.
-
were
Nestle-LeMur
SALES
cum
sold at auction
on
Wednesday
.1
17%
Mar
15
10
Aug
15
Mar
16%
18%
Mar
21
2,000
Apr
29%
100
45%
Apr
50
14%
Feb
15
,
16^
Aug
July
June
5
Jan
9
July
63
55
Jan
•95
Aug
125
5%
505
50
1%
145
20
50
2%
59%
/3/
20
1?||
100
2%
56%
281
4%
June
Jan
Aug
July
27
68
Jan
2
14
May
125
17
4%
19%
Jan
245
Jan
2% June
June
17
Jan
70
Feb
17
17%
3%
Feb
35
17%
3
Jan
Feb
Jan
16
*
4%
Aug
Aug
Apr
27
30
17
12
July
■■y-e-s:: Aug
30
2%
30%
2^
58%
.1
4%
%
575
1
■/6-/
19
Feb
Feb
Feb
June
No par value.
THE
BERLIN STOCK
EXCHANGE
Aug.
Barker Cotton Mill Co. (Ala.); 3 The Country Club of Mount
Desert (Me.); 2 The Bar Harbor Association of Arts (Me.); 3 The New York
(N. J.), pref.; $12.50 The New York Car & Truck Co.,
fractional pref. scrip; 50 Jocuistita Mining Co. (N. Y.); 60 The Colorado
126
126
126
155
155
155
102
102*
102
101
114
113
113
111
104
105
105
131
132
130
124
123
123
123
123
104
104
105
104
16
—
-—.—
-
113
16
196
224
180
203
...—.
——
Reichsbank (8%)
Salzdetfurth (7H%)
$ per Share
$50—
97%
$100—
...
Siemens & Halske
81
50c.
2 Columbian National Life Insurance Co., par $100—
27%
CURRENT
—Bond &
—Bristol
170
170
169
165
144
143
141
137
143
143
142
140
16
16
16
16
111
113
111
107
16
16
16
195
195
195
225
224
&
16
193
225
176
178
179
176
201
202
202
199
NOTICES
Goodwin, Inc. of Illinois, announce that Paul R.
has joined the sales
104
Ellsworth
organization of the Chicago office.
Willett,
115
Broadway,
New York,
are
distributing the
81
25 Massachusetts Power & Light Ass'ts, $2 pref
35 Knitted Padding Co., voting trust certificates, par $100.
—
(7%)
51%
99%
2014
13%
75
$100
7
38
155
Norddeutscher Lloyd
By R. L. Day & Co., Boston:
1 Worcester County Trust Co., common, par $10—
39-
126
Rheinische Braunkohle (8%)
1 Concord & Portsmouth RR, par $100.
Aug.
39
Mannesmann Roehren
$300 lot
—
6
39
Hapag
Car & Truck Co.
....
Aug.
5
39
—
6%; 16
I
Aug.
4
127
155
Commerz'und Prlvat-Bank A. G
102
Dessauer Gas (7%)
114
Deutsche Bank und DIsoonto-Gesellschaft—
105
Deutsche Erdoel (4%)——
132
DeutscheRelchsbahn (German Rys) pf 7%.Holi- 123
Dresdner Bank
day
105
Farbenlndustrie IG (7%)
170
Gesfuerel (6%)
145
Hamburg Elektrizitaetswerke
144
Co., demand note payable to order of W. B. Duncan, dated June 16,
1914; $260 Tidewater Paving Brick Co., demand note payable to order of
W. B. Duncan, dated June 21, 1915; 550 Inter-Contlnental Construction
Corp. (N. Y.); $13,000 Inter-Continental Construction Corp., note dated at
Brooklyn N. Y., Dec. 26, 1919, payable on demand to W. B. Duncan int.
Slocks
Aug.
3
Allgemeine Elektrlzltaets-Gesellschaft
Berliner Handels-Gesellschaft (6%)
Berliner Kraft u. Llcht (8%)
Brick
Coal & Iron Development Co. (Col.); 50 Sutro Tunnel Co. (Calif.)
Aug.
1
'•
Per Cent of Par
Duncan, dated Dec. 29, 1913; $5,000 Tidewater Paving Brick Co.,
demand note payable to order of W. B. Duncan'dated Dec. 9, 1914 int. 6%;
$5,600 Tidewater Paving Brick Co., demand note payable to order of W. B.
Duncan, dated Dec. 2l, 1914 int. from date at 6%; $2,000 Tidewater Paving
Peoples Trust
Mar
20
•.*
,
W. B.
par
15
Closing prices of representative stocks as received by cable
each day of the past week:
'
$2,00*0 Tidewater Paving Brick Co., demand note payable to the order of
Co.,
Aug
July
705
$10 lot
Paving Brick Co. (N. Y.), pref; 229 Tidewater Paving Brick Co. (N. Y.),
common; $2,500 The Union .Electric Light & Power Co.,
1st mtge. 6%
bond, due June 1, 1913 with Dec. 1,1893 and subsequent coupons attached;
par
5% May
13
28
240
2%
S M A Corp
$75 lot
Company of New York (N. Y.); 1,985 Seaboard Sand & Gravel
Corp. (N. Y-), common; 5 Blue Peter Cigarette Co., Inc. (N. Y.), pref.; 5
Blue Peter Cigarette Co., Inc. (N. Y.), common; 1 Glenwood Holding Co.
(N. Y.); 173 Old Point Comfort Improvement Co. (Va.); 208 Tidewater
2 Columbian National Life Insurance
Mar
June
8
845,000 lot
5 The Fellows
5 First National Bank, Boston, par $12%
1 First National Bank of Yarmouth, par $100
3%
20% May
6
9
30%
16%
*
58%
*
July
16^
%
Seiberling Rubber
(N. Y.); 390 Canlsteo Silk Co., Inc...
1,000 Princess Royal Hosiery Mills, Inc. (Del.), class A
1 St. Andrew's Realty Co. (N. Y.)
2
Apr
95
6
*
Weiberger Drug Inc
Jan
21
5
*
3
—
10
64
49
.....
16%
—
Mar
107^
16%
8%
8.%
Packer Corp.
Patterson-Sargent
Peerless Corp.
Jan
26
*
28%
cl A..*
—
105
July
10
—.100
Ohio Brass B
Aug
June
17
2l2
4%
16^
50
National Tool
104
93
16%
*
National Tile.
Jan
100
12.
28
49
95
-100
10%
Aug
Jan
252
27
49
National Refining...—25
Preferred
7%
'
*
*
1
National Acme
Mar
15
21
.*
—
Myers (F E) & Bro..
15
25
10
10
Jan
137
15%
"l6%
Jan
10
10
19
4%
Medusa Portland Cement *
55
'
12
*
Feb
17
28
12
—
July
41
7%
17%
18%
._•*
Lamson & Sessions
97 H
96
Tucuman Prov 7s....1950
11654
AO
24 H
25
13
7%
*
90
133
29%
47%
"7%
M
50
46
46
Jaeger Machine......—*
123
13
"29%
13
—
Harbauer
National Securities Corp. (N. Y.), common voting trust ctfs.; 200 The
Shepard Stores, Inc. (Mass.), common...;
$4 lot
4 units First
2,945
60
Stinnee 7s unstamped. 1936
7s unstamped..
1946
86 Providence & Worcester Road,
July
15
64
21%
15
yy"$ per Share
par
24%
17
Feb
60
Stettin Pub Util 7s...1946
Stocks
Co.,
July
14
i
Preferred
9%
following securities
Farr Alpaca
July
73
100
By Adrian H. Muller & Son, New York:
25
75
Jan
Great Lakes To wing... 100
26H
... .
Richman
Shares
Jan
25
1951
of the current week:
50
Jan
61%
59%
71
Fostoria Pressed Steel.... *
904.
820 Huguet Silk Co., Inc:
54
29
26
AUCTION
Shares
July
Feb
19%
71^
63%
29%
15
..*
7% cum pref
The
30%
Jan
124 H
/23
/25
Saxon State Mtge 6s__ 1947
Serbian 5s
1956
Water Wks
For footnotes see page
880
68%
68^
20%
Aug
Mar
Foote-Burt
108 H
1957
66
68^
68%
21%
15
16H
114%
Guatemala 8s 1948
115
17%
High
26
Apr
Federal Knitting Mills...*
Faultless Rubber
19H
1954
27^
64
66
*
1O0
100
Low
18%
11%
15%
1,359
11H
/12
.....1960-1990
26
17%
*
*
/9
Gt Brit & Ireland 5Ha '37
6%
Ctfs of deposit
Cliffs Corp v t c
Cleve-Cllffs Iron pref
Cleveland Railway
/18
June 1 '35 to June 1 '36.
Hanover Harz
13
—
23%
HI
115H
7s
stamped
4s
34%
Range Since Jan. 1 1936
Shares
Electric Controller & Mfg *
Sao Paulo (Brazil) 6s. 1943
Saxon Pub Works 7s__1945
Coupons
Graz (Austria) 8s
— —
—
/40
/33
26
.1
High
.
27
Apex Electric Mfg
City Ice & Fuel.
Al
Low
Commercial Bookbinding *
Coupons
Dec 1934 stamped.....
Apr 15 '35 to Apr 15 '36.
12-1-34
Allen Industries Inc
Price
19%
6Hs—
f26%
July 1934 to June 1936—
German scrip......
17%
German called bonds..... /20 50
Young
157
/20
Par
Stocks-
61H
/47
German
Sales
160 H
175
Scrip
137.
Dawes
Exchange
fiS'H
28 %
/23
July to Dec 1933-....
Cleveland Stock
Aug. 1 to Aug. 7, both inclusive, compiled from official sales lists
Friday
H
& T. CLEV. 565 & 566
A. T
1947
Santander (Colom) 7s. 1948
Jan to June 1934
154
Telephone GHerry 5050
H
(Brazil)
8%—
German defaulted coupons
German
-1957
7%
Catharina
16
%
Santa Fe 7s stamped..1942
142
German
Building & Landbank 6 H%—
1948
Bk 6s '47
Salvador 7% ctf of dep '57
Salvador 4% scrip
145
Gelsenkirchen MIn 6s. 1934
55 H
(Ger¬
/24
.1949
..1945
7%-----1968
Church
...1946
Prov Bk Westphalia 6s '33
Prov Bk Westphalia 6s '36
Rhine Westph Elec 7% '36
Rio de Janeiro 6%
1933
Rom Cath Church 6 Ha *46
R C Church Welfare 7s '46
Royal Dutch 4s
1945
6^8..1959
Union Trust Building, Cleveland
23
Panama 5% scrip
Dortmuna Mun Util 6s '48
97
54
52
50 H
WOODch
/27
/ 95
/21
—
/48
.1957
Costa Rica funding 5% '51
Costa Rica Pac Ry 7 Ha '49
/82
/27
—.1947
4s__
/27
78..
1953
Columbia scrip Issue of '33
Issue of 1934 4% .—1946
pest,
/86
Oberpfals Elec 7%.—1946
Oldenburg-Free State 7%
to
1945
City Savings Bank, Buda¬
Cundlnamarca
7 Ha
Hungary
7s assented—————
Chilean Nitrate 5s
1968
7s stamped
1946-1947
(A&B)
12
200 Western Light &
48
Telephone Co., common, par $1
$1.70
par $100; 100 New England Investment <fe
Securities, pref. certificate of interest, par $100
$54 lot
100
Congress Street Associates,
Rirby Lumber Co., common,
par
$100
$200 lot
August issue of their Over-the-Counter Review.
—II.
S. Edwards
&
analysis of Guardian
Co., f20 Broadway, New York, have prepared
an
Investors Corp.
—Arnold & Co., 25 Broadway,
issue of their "Securities Review."
New York, are distributing the current
Financial
906
FILING
REGISTRATION STATEMENTS UNDER
OF
SECURITIES ACT
of the stock are to be used for the purchase of in¬
it is stated.
Weltner, Bigelow & Co., of Kansas City,
underwriter.
Adolph E. Weltner, of Kansas City, is
Filed July 24, 1936.
proceeds from the sale
the
principal
President.
Commission on Aug. 1 an¬
21 additional registration statements
(Nos. 2336-2355, inclusive, and 2022, a refiling) under the
Securities Act.
The total involved is $19,306,403, all of
which represents new issues.
The total includes one state¬
ment involving $582,000, which was received as a refiling.
1936
8,
vestment securities,
is
The Securities and Exchange
Aug.
Chronicle
Commercial Investment Corp. (2-2352, Form A-2) of Davenport, Iowa,
filed a registration statement covering 26,198 shares ($25 par) $1.75
cumulative convertible preferred stock and 130,990 shares (no par.) common
stock.
The common stock is to be reserved for conversion of the preferred
on the basis of five shires of common for one of preferred if converted
nounced the filing of
has
No. of Issues
prior to May 1. 1938, four shares if converted thereafter and prior to
1939, and three shares if converted thereafter and prior to May 1,
after which the preferred stock will not be convertible.
The preferred
stock is to be offered at $28.50 a share.
The net proceeds from the sale
Type
issues are included in
Faddis Oil & Gas Corp.
2^0*
„
the total:
(2-2336, Form A-l) of Waynesburg, Pa., has
registration statement covering 6.000 shares ($50 par) common stock
be offered to the public.
The company intends to purchase gas and
filed
to
. ,
.$19,306,403
Commercial and industrial
21
The following
a
petroleum leases, wells and equipment located thereon, and other property
and contracts.
Charles I. Faddis, of Waynesburg, is President.
Filed
1936.
July 16,
•
•
Corp. (2-2337, Form A-2) of Detroit, Mich., has filed
registration statement covering 65,000 shares (.$5 par) common stock
which will be sold by a group of individual stockholders and no part of the
proceeds will be received by the registrant.
Watling, Lerchen & Hayes,
of Detroit, is the principal underwriter.
W. C. Schrage, of Detroit, is
President.
Filed July 18, 1936.
Steel
Detroit
a
Cleveland Railway (2-2338, Form
A-2) of Cleveland, Ohio, has filed a
registration statement covering 40,393 shares ($100 par) common stock,
of which 20,393 shares is being offered by Midamerican Corp., and 20,000
shares by George A. Ball, both of Cleveland, Ohio, who will receive the
proceeds.
The underwriters are Hayden, Miller & Co. and Otis & Co. of
Cleveland, Ohio.
George D. McGwinn, of Cleveland, Ohio, is President.
Filed July 18, 1936.
•
Public
Co.
Service
(2-2339, Form A-2) of Man¬
registration statement covering $1,000,000 1st
of New Hampshire
chester, N. H., has filed a
and 5,400 shares of preferred stock, $5 dividend seriesi
no par value, information to complete this description to be filed by amend¬
ment.
The proceeds of the securities will be used to reimburse th6 company
for the expenses in connection with the acquisition of the New Hampshire
Power Co.
Walter S. Wyman, of Augusta, Me., is President.
Filed
July 20, 1936.
mortgage bonds,
(2-2340, Form A-l) of Bing-
Binghamton Washing Machine Corp.
hamton, N. Y., has filed a registration statement covering 60,000 shares
($10 par) common stock.
The proceeds will be used for remodeling, pur¬
chasing of equipment, and for other corporate purposes.
George D. B.
Bonbright & Co., of Rochester, New York, is the principal underwriter.
Thomas W. Beehan, of Binghamton, is President.
Filed July 20, 1936.
St.
John
has filed
a
& Copper Co.
Gold
(2-2341, Form A-l) of Phoenix, Ariz,
100,000 shares ($1 par) common
registration statement covering
stock, the proceeds of which will be used for mining equipment and other
purposes.
Brett Brothers, Amsterdam, Holland, is the principal under¬
writer.
John Slak, of Phoenix, Ariz, is President.
Filed July 20, 1936.^
(2-2342, Form A-l) of Buffalo, N. Y., has filed a
a registration statement covering 210,000 shares
($1 par) common stock,
and warrants to purchase 40,000 shares of this common stock.
The pro¬
ceeds will be used for working capital.
G. M.-P. Murphy & Co., of N. Y.
City, is the principal underwriter.
Lawrence D. Bell, of Buffalo, N. Y.,
is President.
Filed July 21, 1936.
Bell Aircraft Corp.
Thrift
Investment
Certificate
Corp.
(2-2343, Form A-l) of Minne¬
apolis, Minn., has filed a registration statement covering investment service
contracts of $200,000 as gradually paid in under new accounts opened subse¬
quent to this registration.
Filed July 21, 1936.
A. G. Morrison, of
Minneapolis, is President.
Nov. 1,
1941,
be used for working capital and for expansion of the
corporation.
Floyd E. Harvey, of Davenport, is President.
of the stock are to
business of the
1936.
Filed July 24,
outstanding bonds and notes, and for working capital.
Floyd D. Cerf Co., of Chicago, is the principal underwriter.
Glenn Lynch,
of Clinton, Iowa, is President.
Filed July 22, 1936.
be used to redeem
Sun Ray Drug Co. (2-2345, Form A-2) of Philadelphia, Pa., has filed a
registration statement covering 10.000 shares of 6% cumulative convertible
($25 par) preferred stock, and 35,000 shares ($1 par) common stock, of
which 10,000 shares are reserved for conversion of the preferred stock and
25,000 shares are presently outstanding and registered for account of the
holders.
The proceeds from the sale of the preferred stocks will be used
for expansion, additional .working capital and to reimburse the treasury
for $15,000 expended for the redemption at par of 150 shares of 6% cumu¬
lative preferred stock redeemed in July, 1936.
The principal underwriters
are King, Crandall and Lathan, Inc., and Burr & Co., Inc.. of N. Y. City.
William Raboff, of Philadelphia, is President.
Filed July 22, 1936.
Arrow Aircraft
Corp. (2-2346, Form A-l) of Lincoln, Neb., has filed
a registration statement covering 200,000 shares of $1 par value common
stock to be offered direct by the corporation.
The proceeds will be used
for payment of bills, and for wroking capital.
Mark W. Woods, of Lincoln,
Neb., is President.
Filed July 22, 1936.
Income Properties Inc. (2-2347, Form A-l) of Chicago, 111., has filed
registration statement covering 100,000 shares ($5 par) prior income
stock, with warrants for common stock, and 50,000 shares of ($1 par)
common stock.
The proceeds will be used for expenses of organization
and the acquisition of properties.
The Bills Management & Mortgage
Corp. of Chicago, is the principal underwriter.
Benjamin F. Bills, of
Evanston, 111., is President,
Filed July 22, 1936.
a
Regal Textile Co., Inc.—D. C. Collier (2-2348, Form A-l) of Gaines¬
Ga., has filed a registration statement as guarantor of $75,000 of
'
Detroit, Mich., has
registration statement covering 35.0000 shares (no par) common
stock.
The stock is to be offered to stockholders of the company at $4 a
share for a period of 30 days from Aug. 15, 1936, on the basis of one share
for each share now held.
All shares not subscribed for at the end of that
a
period will be offered generally to the stockholders for an additional period
of 15 days.
The company, it is stated, does not at present contemplate
a public offering.
The net proceeds from the sale of the stock will be ap¬
plied to the payment of delinquent real estate taxes and to the reduction
of current taxes, it is stated.
Stanley G. Miner, of Detroit, is President.
1936.
Filed July 24,
registration statement covering 195,000 shares ($1 par) common
to be offered for the account of the company
and 93,061 shares are to be offered for the account of Joseph Soss, Samuel
Soss, Charles J. Soss, and Henry Soss.
The remaining 98,715 shares are
being registered, it is stated, for the benefit of the owners and will not be
issued at this time.
The net proceeds to the company from the sale of
3,224 shares are to be added to the general funds of the company.
The
principal underwriters are Tobey & Co., and Herrick, Heinzelmann &
Ripley, Inc., both of New York City.
Joseph Soss is President.
Filed
July 25, 1936.
filed
a
stock of which 3,224 share are
Inc. (2-2355, Form A-l) of Wilmington,
Chemicals,
Products
Pine
filed a registration statement covering 50.000 shares ($5 par)
non-voting common stock, to be offered at par.
The net proceeds
from the sale of the stock are to be applied to the purchase of land; the
erection and equipment of an office, refinery, lavoratory and charcoal mill;
Del.
has
class A
purchase of other equipment;
the
Antonio, Tex.,
(2-2022, Form A-l, refiling) of San
Inc.
Dairyland,
merchandise inventories; and working
Minnesota, is President.
of Minneapolis,
capital.
Harry C. Reynolds,
Filed July 25, 1936.
registration statement covering $600,000 of 1st mortgage 5%
1946, to be offered at $970 for each $1,000 unit, $485
for each $500 unit, and $97 for each $100 unit.
B. E. Buckman & Co.
of Texas, is the principal underwriter.
E. J. Crofoot, of Bay City, Tex.,
is President.
Filed July 22, 1936.
filed
has
a
bonds, due March 1,
filed for three issues under Rule 202
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:
Prospectuses were
which exempts from
Accumulative
80 Federal
3-3-696),
(File
Shares
St., Boston, Mass.
9,000 shares of stock.
Shares are offered to investors at net
plus 8%.
The trustees are; II. Watts Pillsbury of Derry, N. H.
and Harry P. Smith, of Quincy, Mass.
No underwriter is named.
Offering
asset value
Osborn
Francisco, Calif.
San
Mining Co. (File 3-3-702), 333 Montgomery St.,
Offering 50,000 shares of common stock of $1 par
value at par.
Cyril Stevenson,
is President of the corporation.
333 Montgomery St., San Francisco, Calif.,
No underwriter is named.
Empire Forms, Inc. (File 3-3-705), 284 Lauder Ave., Toronto,
Offering 12,000 shares of 6% non-cumulative preferred stock
value at par.
James Clark, 284 Lauder Ave., Toronto, Ont.,
is President of the corporation.
No underwriter is named.
Can.
par
have
Releases
regarding
published
been
Central
Public
Vermont
143,
details in V.
the following
2-2364, Form
due Aug. 1, 1960.
Corp. «(No.
Service
1st mortgage bonds series B,
747.)
Filed July 28, 1936.
covering $7,300,000
(No. 2-2358, Form A-2) covering 267,710 shares
(Details in V. 143, p. 771.)
Filed July 27, 19.36.
General Motors Acceptance Corp. (No. 2-2363, Form A-2) covering
$50,000,000 10-year 3% debentures and $50,000,000 3M% debentures
(Details in V. 143, p. 756.)
Filed July 28, 1936.
registration statements also were filed with
details regarding which will be found on subsequent
under the companies mentioned:
»
The following
the SEC,
pages
(Edward G) Budd Manufacturing Co. and Budd
and 2-2370, Forms A-2) covering $10,500,000
2-2369
and
$2,000,000 1st mortgage convertible
Wheel Co. (Nos.
1st mortgage 4 Ms
4^s, respectively.
Filed July 29,
1936.
/
Cincinnati
Gas
Electric
&
Co.
(No.
2-2374,
Form A-2)
Federated Department
Stores, Inc. (No. 2-2375, Form
convertible preferred stock.
A-2), covering
Filed July 31,
Airplane & Motor Corp., Ltd. (2-2349, Form A-l) of Glendale,
a registration statement covering 500,640 shares ($1 par)
The stock is to be offered to stockholders of the corpora¬
their
are to
a
the ratio of one share for each
After expiration of the warrants all unsubscribed shares
be offered to stockholders
share.
or to
capital.
purchase of material, labor and working
Robert Porter, of Pasadena, Calif., is chief executive officer of
Filed July 23, 1936.
Darling Stores Corp (2-2350, Form A-l) of N. Y. City, has filed a
statement covering 20,000 shares
(no par) $2 cumulative
participating preferred stock and 250,000 shares (.$1 par) common stock
The preferred stock is to be offered publicly at $28.50 a share.
The com¬
mon stock being registered is presently outstanding and will not be publicly
offered at this time, it is stated.
The net proceeds from the sale of the
Gilbert Klinck Brewing
Mansul Chemical Co.
Central
has filed
a
Newman
Corp. (2-2351, Form A-l) of Kansas City, Mo.,
registration statement covering 50,000 shares of 50 cent par
to be initially offered at $10.47 a share.
The net
(V. 142, p. 30).
Filed Dec. 20,
Tran's
In
In
its
Dick
Corp. (V. 143, p. 96).
(V. 142, p. 1729).
Filed June 20, 1936.
Filed March 2, 1936.
Inc. (V. 141, p. 4090).
Filed
1935.
Dec. 26
State Oil Co.
(V. 141, p. 1859).-
making available the above
no case
does the act of filing
Filed Sept. 6, 19.35.
list the Commission said:
with the Commission give to any security
approval or indicate that the Commission has passed on
or that the registration statement itself is correct
the merits
of the issue
Investors
value common stock,
Filed Nov. 29, 1933.
Filed June 13, 1936.
Filed Dec. 13, 1935.
Mining & Developing Co. (V. 142, p. 220).
Marine Airlines,
preferred stock are to be applied to the expansion of the business of the
capital.
Leach Bros., Inc., of N. Y. City, is the principal underwriter.
George A. Gluck, of N- Y. City, is President —Filed July 23, 1936.
Development, Inc.
Postal Minerals
registration
corporation, the improvement and enlargement of stores, and to working
(V. 137, p. 3949).
Ltd. (V. 142, p. 4326).
1935.
the liquidation of indebtedness, the
the corporation.
.
withdraw
registration statements:
Basin Gold Mines,
holders of street certificates at 50 cents
The net proceeds from the sale of the stock are to be applied to
following companies have been permitted to
Alamo Petroleum Corp.
tion through warrants at 50 cents a share in
2M shares held.
;
The
July 22, 1936.
covering
3Filed July 31, 1936.
$35,000,000 1st mortgage
1936.
stock.
(See
Sears Roebuck & Co.
(no par) capital stock.
140,000 shares ($100 par) 4M%
Kinner
A-2)
p.
ville,
common
Ont.,
of $5
Can.,
issues, not included in the above total:
six-year 6% convertible first mortgage bonds due July 1, 1942 of Regal
Textile Co., Inc. (covered by Registration Statement No. 2-2272).
Filed
Calif., has filed
N. J., has
Co. (2-2354, Form A-2) of Roselle,
Soss Manufacturing
California
Pointer Brewing Co. (2-2344, Form A-l) of Clinton, Iowa, has filed a
registration statement covering 560,000 shares ($1 par) common stock, and
common stock purchase warrants evidencing the right to subscribe to 100,000
shares of common stock.
Of the common stock, 215,000 shares are reserved
for the exercise of common stock purchase warrants.
The proceeds will
Co. (2-2353, Form A-2) of
Miles Detroit Theatre
filed
The last
in
our
previous list of registration statements was given
25, page 572.
issue of July
Volume
143
Financial
Chronicle
907
?5,694.359 in June
1936 and $4,193,741 in June 1935.
f Represented by
s"ares Prior preferred stock.
Note—There were outstanding at June 30, 1936 warrants entitling the
'
at
SpecialistM in
,
holders to purchase
537.437 shares of class
July 1, 1940
All
Rights and Scrip
at
$10
B common stock on or before
The company is also obligated to issue before
share.
a
Pi 1.1938 warrants entitling the holders
to purchase, under conditions
contract, dated March 19, 1936, not to exceed 70,000 shares of
class B common stock
before Jan. 1,1942, at $1 a share.—V. 142, p. 3835.
set forth in a
AIlentown-Bethlehem
McPONNELL & Co.
Ordinary
__
JNmw York Stock Exchange
Members|NewYork
120
Curb
TEL.
1935
expenses
NEW YORK
642,840
66,553
62,620
65,334
J
...
_
50,216
$450,266
1936
Interest
1935
$314,109
99,942
expense
on
on
1934
$393,099
95,537
$503,051
100,123
Other income.
$214,167
41,314
$297,562
49,478
12,305
Interest, loss
$255,481
18,786
$347,040
2,846
61,200
79,000
securities sold, &c__
Estimated provision for Fed. & State
income taxes
125,958
319
Dividends paid.
y
__.
$19,962
Earns, per sh.
156,000 shs.
on
1935
Investments
$191,369
$i .43
Interest receivable
Accts. receivable.
$1.97
Mat'ls &
x After
deducting $93,634 in 1935 ($103,039 in 1934) for depreciation,
Consists of dividends on first preferred stock of $61,250 and dividends on
common stock of $117,000 in
1936, $156,000 in 1935 and $117,000 in 1934,
_
tension
Total
of $9,516 in 1936, $5,821 in 1935,
given
88,904
26,912
27,542
174,370
37,680
1,121,321
127,207
1,057*218
156*163
Deferred
63,191
Earned
surplus...
purchased
for the Period from May 4, 1935 to April 30, 1936
Sales of rolled products, pig
iron, coke and by-products
$9,240,172
Selling and shipping expenses, royalties, &c----__"""
226,959
Interest
loans, &c
:
Depreciation, plant and equipment
on
__
_____
__
Reserved for income taxes
Net profit.
_
___
__
or
otherwise retired
American Enka
7,749,071
L_j__
Inc.—To Hold Adjourned Meeting
or
and when such stock shall have been
called for redemption.—V. 142, p. 4327.
Corp.—Earnings—
"
Dec.
Dec. 30, '34 Dec. 30,'33
29, '35
$2,325,736
$1,431,483
$2,471,689
49,056
74,278
117,005
531
Miscellaneous income
$1,264,142
63,421
535,766
123,139
-Loss
on assets demolished
North Carolina income tax
___
Bank of
$144,780
1,725,302
4,465,308
1,071,223
13,479,430
•___
Bills and accounts receivable.
Inventories
Investments
Property & equipment....
Deferred charges
x
Montreal, loan (sec.)
ii
$2,399,000
93,501
250,093
387,910
2,050,299
2,417,500
9,972,500
2,793,857
541,814
;
$20,906,476
____•__
Accrued liabilities
Reserves
20,431
5% pref. stock ($100 par)___
Common stock
_"
Distributable surplus.______
y
Earned surplus
Total..
After
x
no par
.$20,906,4761
r
reserve
for depreciation of
shares.—V. 143,
p.
Total
$511,704
y
Dec. 29,' 35 Dec.
Assets—
Market securities.
Inventories
1,344,071
Mtge. receivable.
Represented by 99,725
Other receivables, f 185,253
Investments
y
Fixed assets
Deferred charges__
x
approximately $283.20 per
prior preferred stock outstanding.
After deducting from such
$100 per share plus accrued dividends since June
1, 1936, on
25,268 shares of prior preferred stock (the amount of its
preference),
approximately $45.07 per share
outstanding.
This is an increase of
11.7% over the corresponding figure of $40.35 per preferred share at Dec.
31, 1935, and an increase of 95.9% over the June 30, 1935,
figure of $23
per preferred share.
Dividends
Int.
on
stocks
bonds, &c
on
1934
8,725
.
8,504,400
26,070
$463,798
11,450
________
Research fees
$220,723
8,700
$396,783
8,700
Fees of trustees, transfer
agents, &c___
Gen. exps., incl. salaries
and
7,275
taxes
5,903
24,513
53,500
Prov. for Fed. inc. taxes
Prov. for contingencies.
7,028
19,736
18,744
46,434
ipcome..
~~2~,o6O
$367,060
Amerada
$315,875
Gross oper. income
Oper. and admin, exps.,
taxes,leases aban., &c.
1933
$327,726
65,335
14,115
$315,876
154,686
Gross earned surplus
Dividends—Prior preferred stock
$874,512
$366,096
69,486
102,450
18,000
$470,562
73,175
153,675
$176,160
Net
$702,576
1936
$356,751
1935
$732,427
Securities
investments
Divs.
receivable..
Treasury
Accrued
Prepaid
8,010,961
220,000
11,586
stock...
38,060
7,278,933
11,976
fl20,693
Interest..
"5"793
expenses..
1,975
3,057
1,450
com.
stk.
d Class B com.stk.
Capital surplus
Earned surplus
Total
63,266
$32,752
7,490
25,612
20,000
2,574,500
1,024,500
11,047
63,266
4,304,615
702,576
4,251,269
176,160
66,375
payable
Class A
*
11,047
.$8,607,065 $8,186,5991
Total
$8,607,065 $8,186,599
Represented by 25,268 no par shares in 1936 (27,100 shs. in 1935).
b Represented by 102,450 no par shares,
c Represented by 110,472 no
par. shares,
d Represented by 632,662 no par shares,
e Market value
___
$1,255,466
53,591,925
$2,439,741
836,443
2,661,629
1,621,408
$419,024
$930,296
$1.18
$818,334
and
1,402,509
142,
p.
$456,300__
$0.58
$0.53
$1.04
Factors, Ltd.—Extra Dividend—
declared also bears the above dates.
as
follows:
80 cents
on
Dec. 10, 1935,
and Dec. 10, 1934; 40 cents on Dec. 9, 1933, and 20 cents per share
paid on
Aug. 10, 1933 and on Dec. 10, 1932 —V. 143, p. 261.
American Gas & Electric Co. (&
Subs.)—Earnings—
(Intercompany Items Eliminated)
1936—12 Mos.—1935
$5,458,602
3,526,163
Operating income—
Other income.
Total income
Deductions
$5,033,846 $66,969,721 $63,008,553
3,188,881
42,765,393
39,796,034
$1,932,439
99,742
$1,844,964 $24,204,327 $23,212,518
$2,032,181
1,350,780
Operating revenue
$1,924,244 $24,941,718 $23,930,446
1,346,713
16,176,886
16,180,960
Balance.
Amer. Gas
$681,400
_
Expense
$1,134,318
55,577
391,378
Deductions
Balance
—V.
143;
^
p.
79,280
$577,531
'737,390
$8,764,831
717,927
$7,749,485
Elec. Co .—
Total income—
a
.
3153.
Operating expenses
$34,225
_
Res've for contlng.
a Prior pref. stock
2,400,460
b Preferred stock,
1,024,500
c
1935
bought,
Acer. exps. & taxes
Divs.
$1,916,270
523,471
_
1936
& not received.
undelivered
Invest, secure...
Other
2,135,754
"$2,659,520
932,405
Period End. June 30—
1936—Month—1935
Sub. Cos. Consolidated—
Liabilities—
Securities sold and
2,536,285
$945,495
309,971
The directors have declared an extra dividend of 60 cents per share on the
capital stock, par $25, payable Aug. 10 to holders of record July 31. The
regular monthly dividend of 15 cents per share which had been previously
3
Comparative Balance Sheet June 30
Assets—
Cash
1,143,385
Previous extra distributions were
102,450
Earned surplus June 30
1,311,409
$1,340,949
income———
$243,712
stock
_
1936—6 Mos.—1935
$5,195,805
$4,052,025
$2,088,880
517,860
American
1934
$184,384
181,712
Preferred
Corp.—Class B Divs.—
$325,467
$367,060
507,452
Provision for contingencies
Less depreciation.—V. 141,
1936—3 Mos.—1935
$1,858,809
Deprec., depletion
drilling expenses
22,267v
41,470
Net income as above.
Earned surplus Jan. 1______
69,486
16,102,087 15,341,082
y
$2,652,358
Total income-
5,585
'
1935
Total
shares,
no par
Other income—
$407,177
12,388
Statement of Earped Surplus 6 Months Ended June 30
1936
100,000
1,993,685
Corp. (& Subs.)—Earnings—
Period End. June 30—
Earns, per sh. on com__.
$184,384
10,500
100,000
2,471,759
28,749
Represented by 383,700
—V.
Net
'
__
8,900,808
____16,102,087 15,341,082
Operating income
Total
discount
Reserve contlng.
The directors on Aug. 3 declared a dividend of 20 cents
per share on the
class B stock, par $1, payable Sept. 12 to holders of record Aug. 21. This
will be the first payment on the B stock since April 1934 when a dividend
of 10 cents per share was distributed.—V. 143, p. 742.
the remaining net assets are equivalent to
of the $3 dividend preferred stock
$322,934
65,890
7,958
Reserve
American Cities Power & Light
assets
1935
$
12,662,100 12,662,100
Current liabilities.
868,227
574,797
p.3682.
share of the
$153,538
63,082
4,103
Dec 30,'34
Capital stock
157,264
2,840
11,000
26,007
4,441
11,000
_
29,'35
$
Surplus
1,100,000
743,719
1,177,736
1,375,688
Dep. with bankers
157,264
Restricted deposits
1,988
Capital Corp.—Interim Report—
1936
Dec,
Liabilities—
x
_
417
$380,037
75,036
$1,062,620
1,924,045
1,100,000
614,651
1,227,205
Time deposits...
Accts. & notes rec.
The balance sheet at June 30, 1936, with securities owned
adjusted to
market prices, shows net assets equivalent to
6 Mas. End. June 30—
Profit from sales of see's.
$151,087
30,'34
$
2,818,967
Total
the
73,431
158,032
$556,215
Cash
Inc.—Pref. Stock to Be Retired— See
Federated Department Stores, Inc., below—V.
142, p. 2652.
net
860,997
32,563
38,838
85,607
Balance Sheet
Abraham & Straus,
American
897,207
122,078
.
Net profit...
Accrued wages and salaries..
Accounts payable
$2,665,014
509,935
38,089
45,813
—
Federal tax—.'_i—
Liabilities—
Cash..
76,320
$1,623,316
418,014
$2,375,323
593,657
1,019,471
Expenses
Depreciation
$541,814
39,650
77,905
_
Total income
Balance Sheet, April 30, 1936
Assets—
218,604
$8,635,707 $8,574,182
Aug. 12 will hold their adjourned annual meeting to
capital by eliminating all of the 7%
on
Years Ended—
Gross profit
____j
Add interest—
Profit on securities
$9,013,213
.
Total..
114,397
reduction in authorized
cumulative preferred stock, if as
Income Account
Operating profit
credits._
Reserves...
136,323
American Chain Co.,
consider
Algoma Steel Corp., Ltd.—E'^nings—
Balance
Cost of products sold.
ex¬
164,932
$8,635,707 $8,574,182
The stockholders
first page of this department.—V. 142, p. 3329.
on
&
deposits
Accounts payable.
Accrued accounts.
—V. 140, p. 1471.
Alamo Petroleum Corp.—Withdraws
Registrations—
See list
1934
$4,568,750 $4,568,750
2,500,000
2,413,300
debt
Customers'
15,401
186,877
170,846
65,212
155,696
supplies.'
Deferred charges.
Funded
y
Jess dividends on shares held in
treasury
and $3,045 in 1934.—V,
142, p. 2486.
105.000
301,875
1935
Capital stock
2
45,000
145,337
j._
_
$0.87
Liabilities—
2
Special deposits,
com.
stock (no par)
1934
Property, plant &
equipment-____$ ,053,518 $8,016,224
175,204
$71,565
$408,315
Balance Sheet Dec. 31
$366,57^
$282,994
211,429
______
$325,900
105,009
211,312
6,265
Cash
Surplus-..
5,453
5,339
4,165
1,259
...
Preferred dividends
Common dividends
Assets—
$188,695
168,733
$551,843
132,736
_
Amortization of debt discount and expense
Amortization of premium on bonds retired
48,911
11,212
$462,571
_^
$451,839
48,000
:
funded debt
unfunded debt
$402,928
on
$540,631
income.
Gross income
Interest
(& Subs.)—Earnings—
___;
Selling, adminis. & general
Non-operating
department.
6 Months Ended June 30—
Gross profit
5,773
7,798
T
Shares—Registers with SEC—
Adams-Millis Corp.
e
$1,391,551
632,918
60,577
59,049
52,498
6,670
Operating income.
Accumulative
1934
$1,312,196
;___
Provision for renewal and
replacements
Provision for. Federal inconte taxes
Provision for other Federal taxes
Provision for other taxes
RECTOR 2-7815
See list given on first page of this
x
Co.—Earnings—
revenue.___
Maintenance._
Exchan^e
BROADWAY,
Gas
Calendar Years—
Operating
98.
$68" ,363
$1,016,205 $14,204,487 $13,119,195
45,956
540,069
441,651
391,378
4,696,539
4,696,539
$578,870
$8,967,879
$7,981,004
Note—All
Interest in General In¬
General Corp.—Sells
American
announced on Aug. 3
The company
that it had sold its interest in General
The June 30 statements
International Equities Corp.
Investment Corp. to
General Corp. showed the ownership of 13.690 shares of $6
cumulative preferred stock, 97,157 shares of class A stock, 277,645 shares
of common stock, and 303,379 warrants of General Investment Corp.—
143,
574.
p.
American Investment Co. (III.)—Dividend Increased—
The directors have declared a dividend of 40 cents per share on the class B
stock, no par value, payable Sept. 1 to holders of record Aug. 1.
This
compares with 31M cents paid on June 1 last, and 25 cents per share paid
on March
1, 1936.
In addition, a stock dividend of one-third share of
class B stock for each share held was paid as of March 25 last.—V. 143,
p. 98..
.
Comparative Statement of Income
Per. End. June
Other
Bal. carried to
& Traction Co.
American Light
30—
earnings of subs, (after
transfers) ...
.
Gross operating
—I-._$37,832,633 $35,119,706
— 20,097,410
18,868,212
operating expenses.
— —
2,765,120
2,300,729
4,607,618
$8,061,754
Net earnings from operations of subs
Non-operating income of subs..
...
489,651
Interest, amortization & pref. dividends of
Amortization of bond discount and expense
common
162,326
637,500
9,496
1,251,200
Balance
289,561
$3,957,846
111,145
72,480
$5,179,421
804,486
$3,885,365
804,486
_
Holding company interest deductions
consolidated surplus
preferred stock
Balance transferred to
Dividends
on
American News New
6 Months
r
'
President, says:
William C. Dickerman,
July 1, 1936, amounted to $8,920,005,
compared with $4,262,937 at Jan. 1, 1936, and $3,813,246 at July 1, 1935.
At Jan. 1, 1936, there were 19 locomotives on order.
During the first half
of 1936 the company received orders for 39 locomotives and shipped 19
locomotives. At July 1, 1936 there were 39 locomotives on order, all of
which are expected to be completed and shipped during the last half of the
The unfilled orders on the books at
year.
;
Net loss after deducting
■
'
mfg., maintenance and
expenses.__prof$125,444
plants & equip.
288,450
adminis.
Depr.
on
.
,
$460,735
289,902
$994,913
307,429
$944,264
278,193
21,588
66,510
60.000
$175,626
Net loss............
$772,226
$1,288,967
$1,362,342
Cost of property.34,980,159 35,039,233
Investment:
Steel Castings..
Other
Marketable
2,5(0,000
1,662,461
3,179,016
4,468,722
2,500,COO
investments
2,174,847
1,481,849
3,887,725
Cash
securs.
Common
Adv.
after reserves...
3,915,000
3,579,414
214,063
3,425,152
5,409,218
Inventories
$
35,196,100
stock.. 3,839,500
3,839,500
on
rec.
pay.
Accounts payable-
1,036,540
53,578
700,126
Sundry accr. exps.
,238,164
311,143
184,922
183,254
1,496,403
256,094
contracts
Deferred charges..
243,369
States taxes
Res
forconting..
Minority
'
Earned surplus
American Power &
Per. End. June 30—
6,793
10,658
4,178,250
8,588,996
7,764,307
54,102,319 54,557,908
Total..
Represented by 767,900 no par shares.
—V. 142, p. 2982.
'
x
1,401,649
4,178,250
interest-
Capital surplus
54,102,319 54,557,908.
After depreciation reserves.
y
Net
revs,
1936—12 Mos.—1935
1936—3 Mos.—1935
$21,677,028 $19,879,763 $86,298,612 $79,107,287
incl. taxes.. 11,201,322
10,419,112
44,177,435
40,862,714
from
oper..$10,475,706
37,283
Otherincome (net)
Gross corp. income.
Int.
to
public &
-
-$10,512,989
1,460,651 $42,121,177 $38,244,573
100,741
233,635
404,372
$9,561,392 $42,354,812 $38,648,945
other
deductions
Int. chgd. to constructs
3,977,284
Crl,560
4,098,351
16,087,032
Cr6,584
16,487,689
Crl ,003
1,673,016
,
retire. & deplet.
reserve appropriations
1,401,448
6,441,165
Balance
Dr518
respective
American Steel Foundries Co.—Larger Pref. Div.—
6 declared a dividend of $1.75 per share on account
cum. pref. stock, par $100, payable Sept. 30
to holders of record Sept. 15.
This compares with dividends of 50 cents
per share distributed in each of the 14 preceding quarters, prior to which
the company made regular quarterly payments of $1.75 per share.
Arrearages on the preferred stock now amount to $17.50 per share.—•
V. 142, p. 3330.
The directors on Aug.
1,792,701
$3,071,548
applic.
to
Pow.
7,167,358
$2,270,379 $12,662,670
$9,260,732
86,776
76.562
$3,055,105
$2,251,790 $12,575,894
$9,184,170
$3,055,105
$2,251,790 $12,575,894
$9,184,170
16,443
&
7,170,529
1,792,217
min.
interests
equity
18,589
of Amer.
Lt.
Co.
Amer. Pow. & Lt. Co.—
L'.'-X/"'-
annually.
•
the cost of all interstate calls for distances of
Telephone users in New York State are expected to
the extent of about $1,500,000 a year if the Federal authorities
than 234 miles.
7,297
43,086
19,811
Totalincome-
$3,060,067
Expenses, incl. taxes
128,401
Int. & other deductions.
726,691
carried t)o consol
earned surplus.....
■
$2,204,975
$2,259,087 $12,595,705
67,252
369,816
762,152
2,923,785
*
$1,429,683
$9,227,256
225,908
,
3,090,008
American
Electric Co.,
Water Works &
$9,302,104
$5,911,340
Inc.-—Weekly
Output—
•
of the electric properties
Output of electric energy
Works & Electric Co. for the
week ended Aug. 1 totaled
hours, an increase of 27.7% over the
for the corresponding period of 1935.
output of
Comparative table of weekly output
years follows:
Week Ended—
1936
1935
of American Water
46,759,000 kilowatt
36,622,000 kilowatt hours
.
of electric energy for the
1934
....45,270,000 36,741,000 31,870,000
46,969,000 37,786,000 32,719,000
25-...-.-.47,181,000 38,145,000 32,758,000
Aug.
1
--.46,759,000 36,622,000 31,950,000
11
July
July
18
1933
last five
1932
37,280,000 25,881,000
37,610,000 25,653,000
36,946,000 25,862,000
34,675,000 24,466,000
743.
—V. 143, p.
Co.—-$1 Preferred Dividend—
held on Aug. 4 declared a dividend of $1 per
the 7 % cumulative preferred stock,
par $100, payable Sept. 15 to holders of record Sept. 1.
A like payment
was made on June 15 and March 16 last, this latter being the first made on
the preferred stock since July 16, 1934, when $1.25 per share was paid.
A
dividend of $1.25 was also paid on April 15, 1934, this latter being the first
distribution made since the regular quarterly dividend of $1.75 was paid
Woolen
American
The directors at a meeting
share
account of accumulations on
on
April 15, 1927.
Earnings for six months
[Including all subsidiary companies
ended June 30
1936
30—
and allowances,
administrative expenses
Profit from operations
Co.]
1935
&c..$33,654,148 $34,647,429
29,665,728 32,091,042
1,582,664
1,317,039
except Textile Realty
exclusive of depreciation
Selling, general and
$2,405,754
102,340
118,278
46,850
3,731
$1,239,347
92,738
127,664
68,005
11,635
$2,676,954
13,562
88,715
395,619
55,288
1
7,897
—
1,017,710
$1,539,390
13,974
46,980
before depreciation, &c_.
Interest earned
purchases
Rentals, storage and sundry income—net
Collections on accounts, previously written
Discount
on
,
Profit before other charges
doubtful accounts
fixed assets sold or scrapped.
Interest
off
and depreciation
Provision for
charges
Pensions
...
for depreciation
:
ended June 30, 1936,
Federal taxes on income
28.138
9,227
940,054
Profit for the six months
before provision for
and undistributed
Preferred
1
by the company in 10
applies to day, night and all day Sunday rates for both station-tostatiqn and person-to-person calls.
The new schedules also provide that
overtime charges on all person-to-person calls will, after the first six minutes
of conversation, be the same as station-to-station overtime charges for like
distances.
This change in overtime rates will, according to the company's
announcement, save as much as 20% on some calls.—>V. 143, p. 574.
years,
Provision
rate schedules.
which is the seventh to be made
approve the new
The reduction,
Flood loss and expense
4,962
'
The new schedules reduce
more
Loss on
Net equity of Am. Pow.
& Lt. Co. in inc. of
subs, (asshown above)
Other income
Co.—Long-Distance
announced on July 31 that it had filed with, the Federal
Communications Commission a schedule of reduced interstate long-distance
rates, effective Sept. 1, 1936, and estimated to save its patrons $7,500,000
in
income of subs
jjaj
Telephone & Telegraph
The company
Cost of sales,
or un¬
Balance.
Portion
American
Sales, less discounts, returns
periods
whether earned
$116,628
30,000
v
>
sh. on 210,718 shs.cap.stk.
6 Months Ended June
earned)
20,000
of accumulations on the 7%
$4,062,596 $19,833,199 $16,428,090
Pref. divs. to public (full
div. requires, applic.
Net
and
on
$4,864,249
$162,238
85,000
Including
$197,347 in 1934.—V. 143, p. 98.
x
5,732,648
Prop,
to
$453,240
.
revenues
Oper. exps.,
$34,468
82,160
$368,240
$142,238
$86,628
$1.75
$0.67
$0.41
depreciation charges of $218,089 in 1936, $221,686 in 1935
Net profit
Earns, per
July
Light Co. (& Subs.)—Earnings—
Subsidiaries—
Operating
$90,043
72,195
profit
Reserve Federal &
Accts. & notes rec.,
Total
1935
$
Preferred stock...35,196,100
x
Gen.
.
Liabilities—
$
$
Ct\3
1936
1935
1936
y
Total
benefit to
Comparative Consolidated Balance Sheet June 30
u o
$6,677,040
6,642,571
Rates—
.
12,620
Federal stock tax...
$6,815,760
6,725,716
income.;.
Other
1933
1934
1935
1936
$7,652,349
7,251,759
.
Consolidated Income Account
■
6 Mos. End. June 30—
$20,324,872
13,647,833
Provision for Federal income taxes..
Locomotive Co.—Semi-Annual Statement—
American
$23,056,644 $20,577,216
15,404.295
13,761,456
52,650
,
$3,080,879
$1.58
$1.11
reflect reversal of Detroit City Gas Co. rate reserve.—
•
Adjusted to
V. 143, p. 98.
.
$400,589
.
Earnings per share of common stock...
x
1934
1935
1936
Ended June 30—
$4,374,935
Balance
York Corp.—Earnings—
$4,247,408
244,523
:...
$12,102,054
30, 1936
805,874
& Traction Co
$15,722,190
1-785,502
l,834,b34
.
dividends
dividends.
Earned surplus, June
$3,441,534
...—
,074,208
—V. 143, p. 98.
x7,568
$4,283,889
$5,535,090
j.
t
r... —--
—
Total
$5 preferred stock
161,616
637,500
,
$5,290,567
stock-.
Equity of Amer . L. & T. Co. in earns of subs—
Income of Amer. L. & T. Co. (exclusive of income
received from subs.)
——
months ended June 30,
of income for 12
3,450,117
3,458,193
subs..
—
Totalincome..—
1,703,394
$8,444,071
reacquired by Am. Pow. & Lt. Co., less unamort.
debt discount and expense of $110,761 applic. thereto.57,873
Divs. received from sub. from earnyigs prior to year 1935.
14b ,037
$7,698,336
attributable to minority
Expenses of American Light
—
---
1936 (as above)......
Preferred stock ($6)
Proportion of earnings,
.$10,147,465
in wholly-owned subs.
Profit on debs,
x342,184
$8,551,405
...
Dividends on preferred stocks
30, 1936
$7,356,151
of general plant......—
and estimated Federal income taxes.
Provision for retirement
Total income of subs
$3,318,144
—
Bal. from statement
2,305,537
2,010,368
4,579,435
Maintenance
General taxes
Balance
non nne
$7,074,209
Months Ended June
eliminating
inter-company
General
„
3,090,008
Reduction in ledger value of investments
and in other inactive companies
1935
1936
$6,634,060
7ok
1, 1935
Earned surplus, July
(& Subs.)—Earnings—
.
nw
2,923,785
$700,499
$1,709,304
—
Surplus for the 12
Summary of
12 Months Ended June
.
762,152
earned
surplus
4012.
p.
128,400
726,691
Expenses, incl. taxes
Int. & other deductions.
Machinery Co.—Div. Increased—The directors have declared a dividend of 15 cents per share on the
common stock, par $20, payable Sept. 1 to holders of record Aug. 22. This
compares with 10 cents paid each three months from March 1, 1933 to and
including June 1, last and 30 cents per share, quarterly, previously.—V.
1936—42 Mos.—193 5
$10,347,999 $6,590,974
19,811
. 43,086
$1,529,903 $10,367,810
$2,564,395
Total....
„
(Company Only)
and Summary of Surplus
1936—3 Mos.—1935
subs-l $2,559,433 $1,522,606
4,962
7,297
30—
Gross inc.—From
American Laundry
142,
eliminated from the
transactions have been
Interest and preferred dividend deductions of subs,
requirements for the respective periods (whether paid or not
paid) on securities held by the public. The "portion applicable to minority
interests" is the calculated portion of the balance of income available for
minority holdings by the public of common stock of subsidiaries.
The
"net equity of American Power & Light Co. in income of subsidiaries
includes interest and preferred dividends paid or earned on securities held,
plus the proportion of earnings which accrued to common stocks held by
American Power & Light Co.. less losses where income accounts of individual
subsidiaries have resulted in deficits for the respective periods.
of American
V.
intercompany
statement.
above
represent full
Cory.—
vestment
1936
Aug. 8,
Chronicle
Financial
903
—V.„142,
dividends
p.
4166.
profits
g
*.
$1,098,162
766,430
$501,015
Financial
Volume 143
Chronicle
Calendar Years—
Operating
electric
revenue,
-
Operation
Maintenance-.:--....---—
.......
Depreciation
Taxes
_
1935
1934
$20,847,880 $19,642,102
6,069,399
5.573,118
874,742
740,966
2,372,400
1,984,429
3,025,173
3,095,479
$8,506,165
104,404
._
Total income.
Interest on funded debt
.........................
_
Amortizations of debt discount and expense
Other deductions (net)
Net income
$6 preferred dividends
$7 preferred dividends
Common dividends
U
$8,248,109
$8,610,569
4,280,208
220,243
35,888
$8,368,828
4,299,488
$4,074,229
383,346
1,901,781
1,313,395
Operating income-.
Other income (net)
$3,814,776
383,346
1,901,727
1,134,295
showing considerable improvement
Statement
§
:;8:.r
5
149,796,407
Fixed capital.,.150,326,041
Contrac'l constr.
101,520
Misc. investm'ts
440,070
558*707
Liabilities—
Funded
filiated
Sinking fund and
&
1,031,348
1,041,855
accts.
receivable.-.,
2,484,728
2,503,314
Acc'ts receivable
83,817,000
1,285,450
48,588
196,138
474,765
_
accts.
10,948
448,212
736,441
1,390,966
9,857
296,841
8 ,026,550
752,697
,353,676
accr.
Reserves
cos.
15,817
21,482
1,127,018
1,002,225
Capital stock
53,500,167
(no par)
2,035,203
Capital surplus
.
Earned surplus.
Unamortized dt.
disc.& expense
2,871,400
564,322
10,141,416
161,198,955
161,125,004
$84,279,720 $66,619,537 $17,660,182 26.5
8,823,597
9,861,800
1,038,202 11.8
1,586,591
1,804,410
217,819 13.7
1,078,139
200,202 18.6
1,278,342
$1,527,165 13.1
_
_
_
Total operating revenues
$106,046,976 $85,693,223
Operating expenses
36,794,824
45,717,028
Maintenance
7,267,029
9,269,771
Provision for taxes
(including
Federal income taxes)
8,565,842
10,672,306
_
June 1, last, inclusive and 50 cents per share paid
1929 to and including Feb. 1, 1931.
In addition
and
—i._;
_____>_
Provision for other Federal taxes
funded debt.
78,880
21,473
Fixed interest debentures
Sinking fund income debs
Interest-bearing scrip
"4", 120
Balance
31,926
x
$88,479
8,100
the in¬
Co. of New York has been appointed trustee, regis¬
paying agent under the company's first mortgage, dated July 1,
1936, which provides for an issue of bonds, the maximum amount out¬
standing at any one time to be $100,000,000.
First mortgage bonds, 4% series due 1951, to the extent of $10,000,000
have been authenticated and delivered.—V. 143, p. 575.
The Guaranty Trust
Total
Arrow Aircraft
—
—
Obligations convertible into stock at co.'s option
61,257,508
Funded debt
70,312,611
I
have declared a dividend of $1.75 per share on the 7%
$100, payable Sept. 1 to holders of record
This payment represents the dividend due Dec. 1,1935.
Similar
distributions were made each quarter since and including June 1, 1933; as
directors
against $1.50 per share on March 1, 1933, $1 per share on March 1
Nov. 18, 1932, and $1.75 per share previously each quarter to and
Dec. 1, 1931—V. 142, p. 4167.
and
incl.
Ltd.—To Redeem Bonds of Sub.—
The company will redeem on Sept. 1 next, underlying 7% first mortgage
bonds of its subsidiary, Thetford-Vimy, Ltd.
As of Dec. 31, 1935, there
outstanding $368,379 of the bonds.
of Asbestos, stated new short term first mortgage
be issued, earnings being insufficient to provide funds for the
R. W. Steele, President
bonds will
redemption.—V. 142, p. 2488.
Subs.)—-Earnings—-
1936
1935
1 934
1933
$21,592,990 $20,999,821 $17,446,571 $16,713,779
6 Mos. End. June 30—
15,877,465
Operating income
15,474,329
14,095,601
13,590,956
$5,715,525
Expenses and costs
$5,525,492
218,014
$3,350,970
120,114
$3,122,823
176,836
212,933
Other income
$5,928,458
Total income
Int., discount & premium
on funded debt
Gen. & admin, exps
Taxes other than inc.tax
$5,743,506" $3,471,084"
$3,299,659
bl4,959
521,102
597,996
194,438
b20,718
514,432
526,393
223,847
151,491
2,313,356
2,204,383
2,399,494
462,348
301,563
81,876
99,769
$1,824,260
$1,952,170
$745,955
$529,086
25,508,122
Cr49,293
24,673,249
25,026,942
24,190,718
Insurance
228,257
92,268
&c__
Deprec. and depletion.
_
2,442,547
Canceled leases, develop¬
&c—
fret income
Earned surplus at begin¬
ning of year
—
Surplus adjust, (net)—
572,603
Dividends
1,83*2*330
1,145*206
Total net consolidated
$26,809,072 $24,793,089 $24,627,692 $24,719,804
2,290,-
earned surplus
(par
f*
a
$25)
stock
-
-
10.80
Exclusive of inter-company sales
—V.
143, p. 576.
$0.85
and transactions,
$0.33
interest,
98.194,050
66,765,783
77,854,512
dividend
unpresented
203,868
53,454
1,227,173
569,199
158,686
X171.158
checks, &c. (contra)
Taxes accrued--Interest accrued—
1,10*6",526
—
1
Miscellaneous reserves
—j—._
—
837,993!
j
•
Total
—
x Matured interest only.—V. 143, p. 743.
Atlas Corp .—Stock
directors
on
Aug.
Placed
on
5 declared
a
$459,973,739 $470,120,281
Semi-annual Basis—
semi-annual dividend of 40 cents
to holders
last, while
September, 1935, an initial dividend of 30 cents per share was distributed.
Coincident with the declaration of the current aiviaend, Floyd B. Odium,
President of the company, said that the directors had concluded the time
had come to put the stock on a semi-annual dividend basis.
This, he
explained, was in view of "further improvement in business conditions
and the fact that economic recovery has now proceeded
almost unin¬
terruptedly for over two years."
>
in
Aug. 15:
Total vol. of bus. done
bond
Matured
The
cumulative preferred stock, par
Associated Oil Co. (&
189,258,410
35,835,144
per share on the common stock, no par value, payable Sept. 5
of record Aug. 15.
A similar payment Avas made on March 16
Corp.—Accumulated Preferred Dividend—
Asbestos Corp.
1,000,000
$459,973,739 $470,120,281
—
Stated capital—
1230,788,994
Capital surplus.
i__.
J
Capital surplus reserved for conversion of de¬
bentures and for other contingencies.
95,498,950
Corp.—Registers with SEC—
of this department.
1,035,455
205,520
441
199.466
5,275
Reserve for taxes
(111.)—Time Further Extended—
notified the New York Stock Exchange that the time
for the privilege of exchanging the 7 % preferred stock for $6 cumulative
convertible prior preferred stock and common stock under the terms of the
plan of recapitalization has been extended from Aug. 10, 1936 to Sept. 10,
1936.—V. 143, p. 576.
The company has
,
Dec. 31 '35
$467,878,864
Liabilities—
.
•
See list given on first page
;
June 30 '36
$459,768,999
Contra to liability for assumption of bonds of
sub. co., due 1953, included in funded debt...
50,069
trar and
Earns, per sh. on
412 shs. capital
$532,578 80.2
Only)
(Del.)—receivable in securities of Associated
Gas & Elec. Co. under exchange offer.
Arkansas Louisiana Gas Co.—Trustee, &c.—
expenses,
$663,703
——$1,196,282
9,444 14.8
xl3,964x23.1
Decrease.
Cash and special deposits—
Miscellaneous
&c., for six months ended June 30, 1935 of Arizona Power
Co., adjusted to give effect to the plan of reorganization.
Net income appropriated for sinking fund purposes to the full extent of the
company's sinking fund requirements.—Y. 142, p. 3496.
ment
xl ,275,653x25.5
Due from Associated Gas & Elec. Securities Co.
$96,579
Note—The above statement includes, for comparative purposes,
Other int. charges,
5,011,052
63,629
60,480
Assets—
come, expenses,
a
x$747,594 xl2.9
Balance Sheet (Company
$50,069
.
Sinking fund appropriation (see note)
Artloom
$5,798,866
372,398 54.5
28,994 30.4
132,520 10.2
1,745.546 86.5
Co. on:
844
Armour & Co.
5,405,357 31.5
3,735,399
73,073
46,516
or accr_
17,156,915
683,673
95,232
1,293,293
2,018,747
Fixed int. of Assoc. Gas & Elec.:
27,500
$94,974
44,061
Gross income.-
i,937,224 25.8
22,562,273
1,056,072
66,237
1,425,813
3,764,294
Investments in subsidiaries-
Miscellaneous interest-_
Net income
6.5
i,828,654 26.8
108,570
7.8
$5,051,272
pf. stks. paid
on
Balance
$252,378
$272,641
91,267
18,673
27,500
8,372
5,594
35,604
$85,631
9,343
Operating income. _.
Non-operating income.
were
unfunded debt
1935
1936
-
Provision for other taxes
The
funded debt
on
Int. charged to constr. (credit)
Amortiz. of debt disct. & expense
Corp.—-Earnings—
Provision for renewals & replacements
Provision for Federal income taxes
•
on
Interest
Divs.
on
493,689
7,608,715
8,102,405
$33,793,487 $26,856,263
Interest
quarters.—V. 142,
•
6 Months Ended June 30—
Interest
',322,343 22.1
$40,387,870 $33,065,526
Gross income
quarterly from May 1,
special dividends of 25
share were paid in each of the eight preceding
Ordinary expenses
Maintenance
2,106,463 24.6
_
Fixed charges & other deductions
of subs. (incl. Assoc. Gas &
Electric Corp.):
the no par
stock payable Sept. 1 to holders of record Aug. 21. This compares
with dividends of 25 cents paid each three months from Dec. 1, 1931 to
Total operating revenue
23.8
8,922,203.24.2
2,002,742 27.6
Operating income
..—$32,285,465 $25,456,811
Non-operating revenue (net)
1,508,022
1,399,452
271,683
Archer-Daniels-Midland Co.—50-Cent Dividend—
The directors have declared a dividend of 50 cents per share on
Arizonav Power
1,166,405 15.6
$20,$53,753
161,125,004 161,198,955
Total
'
Amount
%
$6,942,670 27.3
4,847,006 26.7
3,887,752 29.8
979,633 17.9
690,155 20.0
x9,584 xl.3
-.-$83,633,972 $66,296,338 $17,337,633 26.2
323,199
645,747
322,548 99.8
revenue.
Net operating revenue
Prov. for retire., renewals
3155.
1935
1936
Total gas revenue.
$13,145,743 $11,618,577
Water, transportation, heat and
miscellaneous revenues
8,621,513
7,455,108
common
p.
30
J^TICTCCLSC
$1,456,224 14L7
70,940 54.5
53,500,167
2,036,436
9,773,454
Represented by $6 cum. pref., 63,891 shares; $7 cum. pref.,
cents per
Ended June
$12,944,553 $11,488,329
130,248
201,189
shares, and common 5,969,977 shares,—Y. 139, p. 3148.
•
Months
$32,360,203 $25,417,533
22,994,636
18,147,629
16,948,966
13,061,213
6,444,980
5,465,346
3,445,322
4,135,477
749,709
759,293
replacements of fixed capitalx
12
,r
Total sales—gas_
Miscellaneous revenue—
548,928
Total
result of these increased sales.
a
r.
CommercialIndustrial
3,103,649
Unadjust. debits
'
Gas—Residential
7,733,814
accrued
Oth.
v!'
Total sales—electric
Miscellaneous
271,020
Cust. deposits
Interest
' 4'
Commercial
x
Mat'ls & suppl's
affiliated
941,151
83 ,543,000
Taxes accrued._
securities
Notes
10,301
2,641,178
2,101,252
State
&
cos)_
"■
Municipal
Electric corporations
Railways
$
Unadjust. cred's
32,394
special depos.
Cash...
Federal
•
,
Total electric revenue
Accts.pay. (gen.)
Accts. pay.
(af¬
as
Earnings
Power
1934
S
.
debt
Consolidated
Operating Revenues—
Electric—Residential._
222,233
32,329
1935
1934
•L''
£—*—
of
Jncl. results of subsidiaries from their respective dates of acquisition only]
Consolidated Balance Sheet Dec. 31
1935
.
.A
Output—
The system reports net electric output of 80,522,623 units (kwh.),
for the week ended July 25. 1936, an increase of 8,571,688 units, or 11.9%,
over the same week in 1935.
Rate reductions and higher expenses and taxes
have prevented a corresponding increase in income, which, however, is
1
120,719
909
Associated Gas & Electric Co.—Weekly
Appalachian Electric. Power Co. (& Suhs,)—Earnings—-
$0.23
b Interest paid.
Semi-annual Report—Floyd B. Odium,
part:
President, says in
'
•
•
A comparison of the statements of condition at June 30, 1936, and at
June 30, 1935, indicates a substantial increase in securities in portfolio
and a decrease in non-quoted assets in proportion to total assets during
the 12-months' period.
This is largely due to the fact that two-thirds
of the common stock of the American Trust Co. ^(substantially all of the
assets of Mercantile American Realty Co. and the stock of Mercantile
Mortgage Go. having been vested in American Trust Co.) was sold in
February, 1936, and a market quotation thereby established for the re¬
maining one -third interest retained by your group.
In previous state¬
ments, American Trust Co. was carried among non-quoted assets.
Much
progress has been maae with respect to some of the other major special
situations in which your group is interested, as well as in the matter of
simplification of the corporate structure.
In the consolidated statement of financial condition at Dec. 31, 1935,
there was reserved under liabilities and capital the amount of $1,773,593
for the outstanding option warrants (not owned by company) to purchase
45,000 shares of common stock of Atlas Utilities & Investors Co., Ltd.,
the Canadian subsidiary of company.
On the basis set forth in the state¬
ment this was the amount that the holders of these outstanding option
warrants would be entitled to receive in the event of liquidation.
As of
June 30, 1936, the comparable amount was $2,063,342.
11,000 of these
45,000 warrants not held by company are owned by the President of the
company and the remainder are owned by either directors or former direcors of company or persons closely related to the President or the other
.
directors.
After company acquired control
of Atlas Utilities & Investors Co., Ltd.,
of the Canadian company were offered
exchange of six warrants of company for each war¬
rant of the Canadian company.
The 45,000 warrants described above
were not exchanged on the advice of counsel because of the relationship
of the holders thereof to the company making the offer.
It is expected
that the interest of company in the Canadian company will be liquidated
within the next few months, which will necessarily involve making definite
final provision for these option warrants.
On the basis of $2,063,341 reserved as at June 30, 1936, as the amount
the holders of the option warrants
from time to time an
to which
these option warrants are entitled in liquidation
of the Canadian
Financial
910
these holders would receive an amount equivalent to approxi¬
mately *46 per Canadian company option warrant or the equivalent of
the market value on June 30, 1930, of approximately 15 option warrants
company,
However, the holders of these
of company.
option wrarrants of the Canadian
made an agreement with your company that, on liquidation
of the Canadian company occurring prior to Nov. 1, 1936, in accordance
with the agreement, your company may take the entire amount that
company have
becomes distributable to these 45,000 warrants upon issuing in consideration
therefor
warrants ton the six-for-one basis); or if
elect to do this, then if the amount distributable
of its option
270,000
your company does not
warrants exceeds the indicated market value, determined
as provided in the agreement, of 270,000 option warrants of your company,
such excess will be paid to your company.
Thus the holders of these
these option
to
option warrants will receive in no event more than the original six-for-one
basis accepted by other option holders and may receive less.
During the first six months of 1936 your corporation acquired for retire¬
ment 112,030 shares of the outstanding common stock at an average cost
of $12.97 per share.
Such acquisitions at substantially less than asset
value
only increase the asset value of the remaining shares but also
the "leverage" in the Capital structure, and for these
not
tend
increase
to
corporation, within modest limits, intends to continue to
acquire shares of common stock for ultimate retirement so long as shares
can be acquired at a substantial discount from asset value.
reasons,
your
1936
Income—Dividends——
Interest.
—
_____
.$906,973
394,910
24,232
$1,290,911
361,938
7,570
$1,326,117
324,422
8,780
.104,828
118,488
-
Miscellaneous
Total income.x
Expenses—Salaries
_____
__
Directors' fees.____
1935
$806,109
482,086
2,716
—
Kent,
statistical
services,
office and other
expenses*incident to management.________
Stockholders' reports, proxies, dividend notices
15,524
34,662
96,720
__'
86,153
8,022
69,002
73,800
$575,494
$523,827
155,683
414,889
taxes..
Net income
Excess
of
income
stocks of subsidiaries
______
divs.,
from
int.,
&c.f
over
after deducting amount thereof applic.
to cap. stocks of subs, in hands of the public.
Net profit on sales of securs. on basis of average
consol. cost, after deducting net amt. thereof
applic. to cap. stocks of subs, in hands of public
dividend of 25 cents per share in
quarterly dividend of 50 cents per share on the
10 to holders of record
Aug. 31.
Similar distributions were made on .fpne 10 and March 10 last.
—-V. 143,p. 744.
the regular
to
common
stock,
$419,811
$108,937
Maintenance
5,554,257
893,685
$5,974,068
$1,002,623
82,133
$5,523,867
$920,489
x Includes $14,310 in
1936 (.$28,126 in 1935) interest and management
fees received from controlled but non-consolidated companies.
Note—Changes during the period in valuations of investments, at market
quotations, or, in the absence of market quotations, at management's
valuations, are reflected in the annexed consolidated capital surplus and
unrealized appreciation account.
Surplus and Unrealized Appreciation Account for the 6 Months
Ended June 30, 1936
:___
$53,764,777
Net income for the six months ended June 30, 1936-
5,523,867
resulting from net changes during the period in
equities in former subsidiary companies in
Adjustment
unctistriDuted
process
of liquidation
Total
x
«
84,654
Excess
over
$59,373,298
-
-
consolidated costs of amounts at which investments
___—
__________
_____
Interest
funded debt
on
and
Includes
net
receivables
670,588
152,197
392,063
1,625,600
___
consolidated costs of investments
x
49,489
45.110
$909,992
341,250
$1,008,097
552,000
632,500
Net income.
$56,533,849
controlling interest was owned at Dec. 31, 1935, and is still owned at
June 30, 1936, amounting to $1,122,534 at June 30, 1936, and
$1,115,264
at Dec. 31, 1935, or an increase of $7,270.
This increase in net unrealized
appreciation results from changes in minority interests.
Aggregate changes
in surplus accounts as reported by such companies for the six months
ended June 30, 1936, indicate a net increase of
approximately $10,000
applicable to Atlas Oorp.'s interests in such companies (including increase
of approximately $21,000 applicable to Atlas Corp.
through its equity
in a former subsidiary company in process of
liquidation).
1936
.
Assets—
13,792,788
535 302
867 016
Dividends receivable and interest accrued
515,660
657.292
affil. of Util. Pow.
& Lt.
Corp.
_
tions
on
or
139 731
'
66.507",ll9
3 157 750
_
"""
with purchase of Util. Power & Light secure
Syndicate parties.., &c., carried at amt. resulting
from pricing underlying sees, at mtk. quot'ns
Undistributed equities in former sub. cos. in
process of liquidation carried at per share amts.
based
445 121
1
2,443,899
85,840,824
Portfolio holdings..
Investment in debs, of Utilities Pow. & Lt.
Corp
Amounts adv. for acct. of others in connection
x
'
»
*
1 329 111
"
'
•
'
74 869
management's valuations.
435 650
fund
Prl£^£l,lilderlyints net assets
rec.
3,166,165
3 393
from Standard Equities
Corp""
793
160
21,133,264
7 347
not readily marketable, carried by
management for purpose of this statement at.
'
3,141,340
930,678
—$105,197,738 $110,713,250
"
Pacific Eastern Corp. secured notes payable to
New York tanks.
$500,000
_____
Accts. pay., int. accr. on debs., due brokers, &c_
Materials & suppl.
338.852
for Federal income taxes of current
and prior years, and for contingencies
Amt. due to Central States Electric Corp
957 531
yo/.Odi
6,140.717
_
__________
*
9.850,608
2,063 341
9,782 800
Corp.80,218,'340
Pr3,387,642
par)
45,311,187 45,872,7721
were
902,640
Total.
.45,311,187 45,872,772
2109.
'
Baltimore & Ohio RR.—Bonds—
modified its order of
May 1, 1936 so as to permit the issue of not exceeding $3,086,000 of refund¬
ing & general mtge. 6% bonds, series E, including $196,000 thereof to be
issued upon the deposit with the trustees of.that. mortgage of $196,000 of
Baltimore & Ohio Chicago Terminal RR. 1st mtge. 4% bonds, or $196,000
of Chicago & Great Western RR. 1st mtge. 5% bonds, or both.—V. 143,
p. 744.
Bangor Hydro-Electric Co.—Trustee, dec.—
The City Bank Farmers Trust,Co.
143,
p.
Gold
has been appointed trustee, registrar
for $7,108,000 first mortgage bonds 3 % % series due
744.
Mines, Ltd.—Withdrawal of Registration—-
and Exchange Commission, upon the request of the
received 011 July 29, 1936, has consented to the withdrawal of the
registration statement.—V. 142, p. 4330.
Securities
company
Bastian Blessing
Co.— To Rearrange Capital—
The company has called a special
which time a capital rearrangement
Baton Rouge
stockholders' meeting for Aug. 22 at
Electric Co.—Earnings—
Period End. June 30—
1936—Month—1935
Gross earnings
Operation.,
13,623
& amortization.
5,498
15,503
13,923
$32,818
Taxes
Int.
$118,863
60,396
$142,279
71,915
5,451
18,469
___
Maintenance..
$23,541
___
Balance
Appropriation for retirement
common
1936—12 Mos.—193;,
$1,646,118
$1,491,065
877,471
783,976
69,007
87,467
188,190
182,241
165,845
164,003
$345,603'
140,000
37,254
dividends and surplus
$273,376
127,500
37,254
$168,349
reserve.
Preferred dividend requirements
$108,622
264.
Telephone Co. of Pennsylvania -Earnings—
Period End. June 30—
Operating
revenues.
Uncollec.
oper.
.__
Net oper. income
—V.
143, p.
1936—Month—1935
$5,083,233 $32,477,911 $30,491,767
23,744
76,160
121,582
3,568,102
21,865,086
21,535,894
286,210
2,398,881
■1,786,793
$1,205,177
$8,137,784
$7,047,498
100.
Beneficial Industrial Loan
6 Months Ended Jurib 30—
Operating income..
Operating expenses
Corp. (& Subs.)-—Earnings
1936
1935
1934
$8,857,250
(including
$8,529,756
$7,523,368
pro¬
5,153,448
operating income..
5,111.203
4,355,155
$3,703,802
.__
$3,418,553
$3,168,213
45,291
Inter est__
140,245
$3,440,609
127,110
224,438
$3,308,458
128,322
199,329
646,530
563,680
422,000
821
_
22,056
$3,749,093
220,417
Income credits.
Other
1936—6 Mos—1935
$5,449,421
12,330
3,668,022
429,623
$1,339,446
____
rev
Operating expenses
Operating taxes.
20,325
117,370
interest
Other charges (incl. amortiz. of
discount & expense
debt
Net income applicable to minority
stockholders of subsidiary cos
1
Surplus credits (net)
$2,497,544
5,340,359
$2,428,965
5,689,621
$7,837,902
12,072
$8,118,586
60,974
$9,331,784
376,988
2,242,728
—
12,472
$2,881,324
6,389,487
—
7,512
$9,270,811
Earned surplus Jan.
126~665
$7,849,974
376,990
1,569,389
$8,026,019
$6,712,068
2,314,989
$1.08
$5,903,595
$6,079,656
2,092,444
$0.98
'
capital stocks of the corp
A
Preferred stock, series
7^358',358
also, outstanding option
Dr92,567
Earned surplus available for divs.
on
60
"preference1 stock8 series'Af 'and
Represented by 260,709 shares" of "$3
4,259,616 shares of common stock.
Tnere
11,481,240
1,188,738
150,000 shs., no
33:i03',538
9 354 888
_____
5,687,500
Common stock (1,-
95,839
3 546 847
9,473",522
Preferred stocks
Option warrants
*
Portion applicable to capital stocks of Atlas
Treasury stock.
1,482,202
93,028
Surplus..
Total
4,860,991
5,687,500
44,860
Pref. stock (56,875
1.,281,556
debits
—V. 141, p.
130,809
11,481,240
Reserves.
56,875
119,804
11,941
5,640,143
Contractual liab..
Unadjusted credits
shs., no par).._
discount &exp__
956,960
350,755
56,875
517,186
debt
Unadjusted
955,608
1,197,192
11,349
289,259
77,199
1,,234,675
5,770
307,617
$1,200,000
Provision
Common stocks
_
99,221
399,219
Divs. accr. on pref.
stock
affil cos
rec.
52,428
397,148
330,036
_
Taxes accrued
Provision for Federal income & capital
stock taxes (current period)
1,337 000
inv.,
liMiiiin-
_.i
notes (at cost)
Notes & accts rec.
Accts.
(affil.
Interest accrued.
4,052
1,138,774
73,384
5,128
889,352
50,013
Cash
_
pay.
companies)
Customers' dep
&
Gross income.
Prepayments
Other
122/728
354,994
Accts.
owned cos.
$
16,796,000 20,296,000
Adv. fr. affil co.._ 2,700,000
Accts. pay. (gen.).
179,819
319,602
Advances to Jointly
Net
Inv. in rec. from controlled but non-consolidated
cos. carried at managements' estimate of fair
Inv. in and
122,600
375,000
Misc. stks & bds._
1934
$
Liabilities—
Funded debt
vision for doubtful notes)
investments priced at market quota¬
at
1935
1934
$
40 844,617 40,585,810
Contractual constr
24,628
Fixed capital
—V. 143, p.
150.827
Notes & loans receivable carried by management
for purpose of this statement at
Notes rec. from
341.250
1935
7,505,776
______
__i—;.
Balance Sheet Dec. 31
Bell
Cash in banks and on handDue from brokers ana other accounts receivable
United States Government obligations
—
_
Common dividends
Balance for
Consolidated Balance Sheet (Incl. Investment Co. Subs.) June 30
•
______
__
over
__.
appreciation with respect to investments in
non-consolidated controlled companies in which
a
.
1,032,300
71,525
Other deductions
will be proposed which is designed to
enable the company to pay dividends on its common stock.—V. 142, p. 617.
sur¬
unrealized
from
—
70,351
Basin
___
Surplus, June 30, 1936, including $31,630,385 capital
plus and $14,361,776 net unrealized appreciation
$2,157,032
$2,030,049
1,000,216
Amortization of debt discount and expense.
The
J
—
949.973
188,636
__
Total income.
1966.—V.
„
Provision for prior years' taxes and for contingencies.
Dividends paid in cash, charged to capital surplus;
On $3 preference stock.
On common stock
$1,966,353
190,679
--
—
__
Operating income
Other income (net).
1,206,290
-
—
and co-paying agent
(including investments in and receivables from non-consol¬
idated controlled companies) were or are carried in statements
of financial condition at beginning and ena of period, after
deducting provisions for normal Federal income taxes on net
unrealized appreciation of portfolio holdings anu miscellaneous
investments
$1,841,414
*
v
$6,542,682
2,047,847
372,218
The Interstate Commerce Commission on July 21
Balance, Dec. 31, 1935, including $33,647,049 capital surplus
and $14,864,783 net unrealized appreciation over consolidated
costs of investments
_
—$6,475,2o4
2.233,834
386,070
1,181,565
832,371
—
Depreciation
Uamortized
Consolidated
1934
Years—
State & Municipal
450,201
_,
City Electric Co.—Earnings—
Atlantic
Calendar
Operating revenue—_
Operation
Municipal scrip.
Provision for Federal income tax
Consolidated net income.
value, both payable Sept.
par
no
special deposits.
_
Consol. net inc. before prov. for Fed. inc. tax__
Co.—Extra Dividend—
Powder
Atlas
The directors have declared an extra
addition
Sinking
exps.,
1936
purchase at any time 1,681.072 shares of common stock at
The above amount of $80,218,340 applicable to stocks of
equal, after allowing $50.25 per share for the outstanding
$3 preference stock (which includes accrued dividend), to approximately
$16.01 per share of common stock.
In 1936 there is included surplus and
net unrealized appreciation of investments of $56,533,850.
x At
market
quotations as follows;
Bonds and notes, $16,477,282
($6,380,648 in 1935); preferred stocks, $8,748,330 ($7,422,391 in 1935):
common
stocks,
$60,615,211
(.$52,704,080 in 1935).—V. 142, p. 1628.
1935
—
Amount applicable to capital
in hands of public..—
15,639
41,237
150,918
'
8,
to
warrants
$6 preferred dividends.
and expenses incident thereto—
Registrar and transfer
Legal and auditing
State franchise, Feueral capital stock and other
Interest paid
Aug.
$25 per share.
Atlas Corp. is
Taxes.
(Including Subsidiaries)
Earnings for 6 Months Ended, June 30
Chronicle
Earned surplus June 30Shares
common
stock
Earnings per share
_____
outstanding.
__.
_
2,092,444
$1.01
376,990
1,569,374
Volume
Financial
143
f ; ;V;
Condensed Consolidated Balance Sheet June 30
1936
Assets—
Install, notes
x
'
V"'4-'?'
S
4,241,520
.
3 ,699,733
ceivable
Due
(net).-51,316,096 48,579,771
262,146
Unearned discount
545,433
Preferred
ment
Corp.—-Registers with SEC—
the Securities and
Exchange Commission, states that G. M.-P. Murphy & Co., will under¬
write 25% of the 50.000 shares of common stock that have been sold to
and
percentages are:
Hayden Stone &
have
a
dividend
from time to time in such amount
of
50
cents
quotations
and (or)
valuations.
management
June 30, 1936
$11,512,981
*
(stock
was
subscribed for and sold in 1936)
23,914
_
Add—Net income for the six months ended June 30, 1936, per
above income account
Net profit on sales of securities based on average book values
per
(revaluations
purchases], after provision of $186,000 for normal Federal
income tax
2,601,149
155,563
•
v
$4,514,576
Deduct—Dividends
on
$3
optional
convertible
preference
647,337
stock, paid in cash...
Balance June 30, 1936-
—
_._
-
$3,867,239
__
Consolidated Balance Sheet June 30
holdings.39,091,076 29(380,879
Warrants
Berkey & Gay Furniture Co.—Admitted to Listing and
chase of
for
The New York Curb
Exchange has admitted the common stock, par $1,
listing and registration, and the common stock purchase warrants
entitling the holders thereof to purchase at any time on or before Jan. 22,
1941, shares of common stock at $2.25 per share.—V. 143, p. 420.
Invest,
in debs,
adv.
179,795
company's
pref. stock
468,125
purchase
Prov.
for
State
&
Fed. taxes
for
the acct.of others
rec.
1,329,111
722,646
and int.
accrued
Res.
c
264,787
for conting..
243,971
197,966
1,809,832
4,818,908
2,332
Prepaid expenses__
175,280
75,000
Preferred stock .10 788,950
14, 920,900
7 489,485
_._16 870,914 16, 210,975
Dr. 897,570
b Common stock..
,
Cash
27,504
optional 83 '
conv.
1,022,933
......
_____
Adv. to affll. cos._
Divs.
.
cum.
&
Amounts
July 20.
Due fr.
of
Light Corp
The company paid a dividend of $1.75 per share on account of accumula¬
tions on the 7% cum. pref. stock, par $100, on Aug. 1 to holders of record
509,062
269,362
brokers
Utilities Pow.
Stores, Inc.—$1.75 Preferred Dividend—
secur's purch...
41,218
investments
from
Due
90,410
expense
Notes pay.to banks 5 416,000
Due to brokers for
130,739
..."
S
payable and
accrued
U. S. Liberty bonds
to
Accts.
pur¬
common
stock
Other
Liabilities—
•§
Portfolio
1935
1936
1935
1936
Assets
Registration—
A similar payment was made in each of the seven preceding
quarters, and compares with $3.50 per share distributed on Aug. 1 and
May 1, 1934.
The last regular quarterly payment of $1.75 per share was
made on Feb. 1, 1932.—V. 142. p. 3157.
384,861
1932, and cost of subsequent
of Dec. 31,
as
Amount transferred from general reserve.
earnings of the corporation and
its financial position permit—V. 142, p. 3332.
Berland Shoe
market
to
-.$11,489,066
Consolidated Earned Surplus Account (Subsequent to Dec. 31, 1932)
Balance Dec. 31, 1935--.73,002
the
as
b$793,304
Transfer to profit on sales of securities of excess of board
valuation over oook value of common stock
warrants
Corp.—2V Pay 50-Cent Dividend—
declared
b$451,544
Balance June 30, 1936-.-
share on the
common stock, par $5,
payable Sept. 12 to holders of record Aug. 20.
This compares with 25 cents per share paid on June 12 and March 12 last,
and on Dec. 12, 1935, this latter being the first distribution made since
April 1, 1932 when a dividend of 15 cents per share was paid.
From Jan. 2,
1931 to and including Jan. 2, 1932, regular quarterly dividends of 25 cents
per share were disbursed.
An announcement issued by President Vincent Bendix in connection
with the current dividend read as follows:
'
"Attention is called to the fact that this dividend is not an increase in
the regular rate, but is merely the declaration of a dividend.
On account
of penalties imposed by the Revenue Act the policy of declaring regular
dividends has been discontinued.
From now on dividends will be declared
directors
b$433,229
of directors'
750.
The
valuations
Less:
Murphy & Co.; Hayden Stone and National Aviation,
3,750 each; Schoellkopf, Hutton & Pomeroy, 3,000, and Jackson & Curtis,
Bendix Aviation
c$384,861
Balance Dec. 31,1935
follows:
as
$1,057,268
209,158
54,805
Consolidated Surplus Accounts for the 6 Months Ended
\
Consolidated Capital Surplus Account
Co., 25%; National Aviation Corp., 25%; Schoellkopf Hutton & Pomeroy,
Inc., 20%, and Jackson & Curtis, 5%.
Of the 40,000 warrants to purchase common stock originally registered,
the 15,000 warrants to be issued to underwriters as part compensation were
alloted
$626,496
172,652
2,300
income tax applicable thereto, was credited directly to earned surplus.
See list given on first page of this department.
underwriters
1,600
Such profits, losses and adjustments are treated as additions to or deduc¬
tions from surplus.
'
1
J
c The net
profit on sales of securities, less provision for normal Federal
The corporation in an amenaed statement filed with
Other
$560,084
125,254
13,700
b Net income is after all
expenses, but before dividends on the optional
convertible preference stock and before adding profits or deducting
losses on salas of securities and notes receivable, and adjustment of invest¬
no par shares,
b Represented by 2,314,989
1936 (2,092.444 in 1935)".
x Less reserve for doubtful
.$2,976,064 in 1936 and $3,118,520 in 1935).
y After reserve
for depreciation of $615,617 in 1936 and $649,924in
1935)..—V. 143, p. 744.
underwriters.
248,254
$3
accounts of
Bell Aircraft
215,457
$646,816
Net income
.55,874,497 54,278,791
shares in
par
1933
$841,811
154,188
Taxes
Represented by 215.413
a
no
1934
$472,308
144.506
Expenses
stock. 16 585,168
Total.
1935
$415,577
Total income
14,916,080
Paid-in surplus
4,311,611
6 983,828
Earned surplus... 6 712,068
5,903,595
54,278,7911
55,874,497
**"■'-
$517,043
dividends
Interest
91,378
a
531,401
201,256
llncluding wholly owned subsidiaries)
129,773
Incomes-Cash
10,770,650
550,669
b Common
&c._
12,500
stock. 10, 770,650
of subs.,
stocks
deprec.).
Total...1
4,237,000
tures, 1946
Furn. & fixtures
realization, represent taxable profit.
upon
1936
deben¬
conv.
would,
.
Outside int. in cap.
6%
as
Consolidated Statement of Income—Six Months Ended June 30
832,467
847,105
221,418
&c__
87,500
— ...
ciation
2,026,834
taxes,
25,783
Unamort. deb. disc
& expense,
for
insurance,
28,800
Pur. fund for acq.
of 6% debs
(after
assoc.
Reserve
Invest, (at cast).,
Real est. (at cost).
y
to
Empl. thrift accts. 2, 328,766
Mlscell. notes and
62,625
20,555
$
10, 697,929 10,998,814
co,
190,361
715,066
Notes & accts. pay
re¬
acets. receivable
preference stock at the amount to which it is entitled in liquidation
($55 per share and accrued dividends), to $2.86 per share of common stock
outstanding.
Net unrealized appreciation of investments at June 30, 1936,
was
$10,151,680.
These amounts were arrived at after deducting provision
for normal Federal income tax on so much of the net unrealized
appre¬
1935
$
Liabilities—
911
for
1936
1935
$
Cash
Chronicle
Surplus
d Treas. stock
_.
.
7 ,489,483
.
Bigelow-Sanford Carpet Co., Inc.— ■Earning s6 Mos. End. June 30—
Net sales after allow.
rec., reserves._______
Interest expense
Total...
1935
1934
1933
$9,492,945
7.806,784
$6,940,446
't ,913,429
55,421,767
4,020,667
1,596,069
383,096
1,413,172
383,097
1,149,473
371,163
1936
$11,684,252
Costof sales, excl. depre.
8,774,772
Selling, shipping & gen.
expenses
1,834,080
Depreciation
455,801
Adjust, of accts. & notes
_..
by shares of $1 par value,
c Represented
by 431,558
no-par sharas in 1936, 596,836 no-par shares in
1935.
d 22,041 shares
of cumulative optional $3 convertible preferred stock.
10-Cent Dividend—
The directors have declared
22,486
profit
Earned
$211,790 loss$149,066
18,289
3.102
$497,795 loss$320,582
Interest received.
Net
Corp.
100,000
$497,112 loss$322,599
684
2,017
Balance
$214,892 loss$l30,776
ning of year
.4,586,995
4,367,439
4,495,731
$5,084,790
$4,046,857
$4,710,622
6,126
$3,363,399
$5,084,790
$4,046,857
79,209
$4,716,749
_
Total....
Divs.
on
Divs.
on common
79,209
pref. stock
156,804
Earned surp., June 30
com. stock outstanci
$4,848,777
$3,967,648
313,609
313,609
Shs.
Earnings per share..
92,411
314,379
'
stock.
;
;V
Nil
$1.33
2,083
$4,309,959
313,609
$0.39
-
-
-
•
314,379
1936
Net
Nil
1936
1935
$
a
Liabilities—
Preferred stock
Land, buildings,
equipment, &c._ 10,803,560
Cash
11,233,877
743,251
628,593
3
J,879,592
Accts. & notes rec.
3,163,760
8,729,175
..11
L,682,833
Inventories
$
:
32,046
Ins., tax., rent, &c
412,720
Cash
x
Real est.,
18,724
27,554,003 24,253,827
x
235,139
p.
261,707
504,726
61,625
504,726
4,848,777
3,967,648
&c
Total.
b Represented
by
_
_
___
313,609
27,554,003 24,253,827
no
par
shares,
ex¬
Machine
420.
first page of this department.
The company on July 31 paid a dividend of $1 per share on account of
accumulations on the $2 cumulative class A stock, no par value, to holders
A dividend of 50 cents was paid on Feb. 1, 1935 and one
share was distributed on Jan. 12, 1933, prior to which divi¬
paid in full up to and incl. Dec. 31, 1927.—V. 142, p. 943.
olrecord July 31.
of 25 cents per
Corp.—Report—
1936, market prices for investments, the net assets
of the corporation on that date amounted to $45,301 026, equivalent to
$104.97 per share of preference stock outstanding, and, after allowing
on
commissions, &c
payable
Divs.
June 30.
z247,813
431,599
75,000
22~ 250
Land contract pay
Capital stock
1,500,000
2,307,347
18,560
Capital surplus...
Surplus
1,500,000
1,853,647
18,560
34,803"
Total...,
.
..$4,553,251 $4,046,884
■
Hemphill, Noyes & Co. announce that the
shares of common stock.
Another
the 37,500
books have been closed on
35.000 shares remain under
option, as announced last March, of which the Hemphill, Noyes group
is understood to have agreed to sell half.
Proceeds of the additional sale
will furnish working capital in connection with oil well development and
indebtedness.—V. 143, p. 420.
Corp.—Earnings—
Net
profit from oper., before deducting
deprecia'n.
Provision for depreciation.
Other income, less miscellaneous
Net
charges.—
profit before employees' bonus & inc. taxes.
% paid to all employees...
profit taxes.. _ _
Bonus of 10
Provision for income & excess
Net
Earnings per share on 299,995 shs.
jVofg—The
bonus
12 Mos.
6 Mos.
Period Ended June 30, 1936—
Department Stores, Inc., below.—V. 142, p. 3157.
Bornot, Inc.—Accumulation Dividend—
Blue Ridge
'36 Dec. 31, *35
$220,827
$404,530
Bridgeport Machine Co.—Stock Sold—
Briggs & Stratton
Bloomingdale Bros., Inc.—Pref. Stock to Be Redeemed—
Based
June 30,
taxes,
of $995,932 in 1936 and $876,543 in 1935.
y Repre¬
of $5 par.
z Provision for Federal taxes only.—V. 143,
Corp.—Registers
with SEC—
were
for
After depreciation
sented by shares
retire bank
See list given on
Reserve
$4,553,251 $4,046,884
Total
160,755
cluding treasury shares.— V. 142, p. 2984.
Washing
$603,700
150,000
receipts for wool
taxes,
Binghamton
1
1
charges.
Earned surplus.
depreciation,
Liabilities—
Accounts payable.
y
Deferred
Paid-in surplus._.
dends
1,944,377
Patents, less depr.
Reserve for Federal
See Federated
6,850
892,917
bldgs.,
&c
letters of credit.
After
7,950
646,196
secured by trust
66,279
432,143
594,130
2 004,042
Notes payable
Acceptances under
$573,807
value
surr.
life insurance—
Inventories
in transit or rec.
a
receivable.
Accts.
Drafts pay. against
Total.
,436,743
439,596
letters of credit,
!_
receivables,
Co.—Earnings-r-
June 30, '36 Dec. 31, '35
Cash
Accounts payable.
Non-curr. invest. &
certificate
Balance Sheet
2,640,300
2,640,300
.15.680,450 15,680,450
707,289
663,939
2,750,000
500,000
b Common stock.
a
profit after all charges, incl. Fed. taxes (est. at $163,445)-dividends paid.
'
S
July 28 issued
Cash
Assets—
1935
o
on
Eamings for 6 Months Ended June 30,1936
Consolidated Balance Sheet June 30
Assets—
Commission
Bower Roller Bearing
-
$3,365,482
RR.—Abandonment—
Commerce
permitting the company to abandon operation, as to interstate and foreign
commerce, of the entire line of railroad operated by it, extending from Boise
to Star, 16 miles, and from Boise to Onweiler, 9.2 miles, all in Ada County,
Idaho.
This railroad was purchased in 1929 by Harry C. Kendall & Co.
and associates with the intention of selling it to the company in considera¬
tion of the latter's securities, but the sale has not been consummated.
—V. 129, p. 1731.
$3,365,482
Net adjusts, to surplus.
This will be the
paid on each share of Blue Ridge common.—V. 142, p. 3157.
Interstate
The
3,494,175
Total.'.
was
Boise & Western
begin¬
surplus,
dividend of 10 cents per share on the com¬
first dividend paid on the common stock since Dec. 17, 1935, when a divi¬
dend of l-10th of one share of common stock of Central States Electric
Prov. for Federal normal
tax........
a
stock, payable Sept. 10 to holders of record Aug. 20.
mon
29,528
18,959
25,660
3,934
______
Total.........41,275,619 38,294,418
41,275,619 38,294,418
b Represented
capital stock._
$714,640
30,873
$1,325,020
61,104
$683,767
43,970
$1,263,916
84,271
$727,737
$1,348,188
138,703
_
134,511
230,277
$593,226
$1.98
$979,206
$3.27
charged to operations for 12 months ended June 30,
1936, was for the year 1935, per
1935 —V. 142, p. 2985.
resolution of board of directors Nov. 15,
Financial
912
Bristol-Myers Co.—Extra
Dividend—
dividend of 10 cents per share in
quarterly dividend of 50 cents per share on the
capital stock, par $5, both payable Sept. 1 to holders of record Aug. 14.
Similar distributions were made in the 11 preceding quarters
The directors have declared an extra
the regular
addition to
Subsidiary Companies)
1936—3 Mo*.—1935
1936—6 Mos —1935
$519,464
$456,781
$L179,350
687,053
689,098
687,0u3
689,098
$0.76
$0.66
$1.71
$1.45
Income Account {Including
Period End. June 30—
Net inc. after all charges
Shs. com. stk. (par $5).
Earnings per share.
For
12
the
ended
months
$2,404,191
1936, net income was
June 30,
Aug.
Chronicle
8,
1936
stockholders to purchase the bonds, and 133,333 1-3 shares of no par value
non-cumulative common stock to be reserved for conversion of the bonds.
The proceeds from the sale of the bonds by Edward G. Budd Manufactur¬
ing Co., it is stated, will be applied as follows:
Approximately $3,580,000 to the payment of a first mortgage to the
Federal Reserve Bank of Philadelphia.
.
.
.
Approximately $969,000 to the redemption of the extended 6% sinking
convertible gold bonds of the company, due Feb. 1, 1941, with a
premium on said bonds also the unextended bonds of $241,500 (principal
amount of the unextended bonds has already been deposited).
Approximately $330,000 to the payment of accrued rental amounting to
approximately $740,000 to Budd Realty Corp. less approximately $410,000
owed by that corporation to the company.
Approximately $5,500,000 to acquire approximately /5% of the property
of Budd Realty Corp. under the plan of liquidation.
The proceeds from the sale of the bonds by the Budd
heel Co. will be
used as follows:
•
' '
Approximately $1,800,000 to acquire 25% of the property of Budd Realty,
Corp. in connection with the liquidation plan.,
'
fund
.
after charges and
Federal income
taxes, equal to $3.50 a share on 687,053
on 689,098 shares
2818.
shares, comparing with $1,951,848 or $2.83 a share
for the 12 months ended June 30 of 1935.—V. 142, p.
.
Brooklyn-Manhattan Transit Corp.—Collateral
Stock Exchange has
under said indentures:
'
*
The
balance
of the
.,
__
_
received notice from the Brooklyn
indenture and supplemental
indenture, both dated May 1, 1936, securing the issuance of $45,000,000
rapid transit collateral trust serial bonds and $65,000,000 rapid transit
collateral trust bonds, 4Yi% series, that it now holds the following as coll,,
The New York
Trust Co. as custodian trustee under the trust
„
proceeds together with approximately $150,000 to
of advances and approxi¬
be received from Budd Realty Corp. in payment
mately $166,000 to be received upon retirement of stock trust certificates
for 1,241 shares of common stock of Budd Realty Corp. will be added to
working capital.
'
"
.
•
•
The bonds of the Edward G. Budd Manufacturing Co. are convertible
into non-cumulative common stock at a price of $20 a share from Oct. 1,
„
$86,417,500 principal amount
New York Rapid Transit Corp., refunding
mortgage 5% sinking fund gold bonds, series A, due July 1,1968.
$12,953,000 principal amount New York Rapid Transit Corp. refunding
mortgage 6% sinking fund gold bonds, series B, due July 1, 1968.
$16,369,600 principal amount Williamsburgh Power Plant Corp. general
mortgage 5% sinking fund gold bonds, series A, due July 1,1968.
$7,236,000 principal amount New York Rapid Transit Corp. first and
refunding mortgage 6% sinking fund series A gold bonds, due July 1, 1968.
282,760 shares New York Rapid Transit Corp. capital stock, no par.
10,000 shares Williamsburgh Power Plant Corp., capital stock, no par.
$1,408,000 face amount New York Rapid Transit Corp. demand note
No. R.T.D.N. 1, 5%, dated June 18, 1936, payable to its own order on
demand at Brooklyn Trust Co., and $1,453,250 deposited cash account.
In accordance with the terms of the indenture, half of this amount is held
authenticating trustee of this issue.
by the City Bank Farmers Trust Co.,
Paying Agent—
The Manufacturers Trust Co. is
Budd Realty
Inc.—Earnings—
1936-—Month
$244,652
Newsprint,
547
834
667
28,108
ink &
1936—6 Mos.—1935
$1,283,189
$1,414,062
3,057
3,061
3,698
3,981
1935
$211,158
639
Adv. expense
Circulation expense
24,691
138,384
123,396
$76,686
$61,854
21,718
5,833
other
materials
Payroll & comm., &c._.
Operating profitOther deductions (net)
_
20,903
_
9,984
Prov. for Fed. taxes
165,045
802,151
147,296
738,022
$439,823
$391,112
127,828
37,824
119,042
54,256
Corp.—To Liguidate—
See Edward G. Budd Mfg. Co. above.—V.
140,
p.
4227.
Budd Wheel Co.—Files with SEC—
The prospectus is dated April 27, 1936.
The bonds are part of an issue
of $110,000,000, of which $65,000,000 are 434s due 1966 and $45,000,000
are 3% serials due 1937 to 1941 and 3M % serials due 1942 to 1951.
(See
original offering in V. 142, p. 2986.)—V. 143, p. 745.
Brush-Moore Newspapers,
a
102^ % and interest if redeemed on or before March 31, 1937, after which
price will decrease by A of 1% for each year.
The price at which the bonds are to be offered, the names of the respective
underwriters, and the underwriting discounts or commissions are to be
furnished by amendment to the registration statement.—V. 142, p. 4016.
_
S%% serial bonds.
Prices ranged from a yield of 3%
on May
1, 1942, maturity, to 4.05% on May 1, 1950,
maturity.
Period End. June 30—
stock at
the
See Edward G. Budd Mfg. Co. above.—V. 142, p. 4016.
on
Gross revenue
Wheel Co. are convertible into non-cumulative
price of $15 a share from Oct. 1, 1936, to Sept. 30,1939,
The bonds of the Budd
common
of Bonds Offered—Brown Harriman & Co., Inc.,
Aug. 5 $9,351,000 rapid transit collateral trust
Block
option of
and at $20 a share thereafter.
These bonds are redeemable at the option
of the company as a whole at any time or in part on any interest date at
serially from May 1,
collateral trust 434%
.
_
30, 1944,
the company as a whole at any time or in part on any interest payment
date of 105% and interest if redeemed on or before Sept. 30, 1941, after
which the price will decrease by one-half of 1% for each year.
paying agent for outstanding $45,000,000
rapid transit collateral trust '6rA% serial bonds, due
1937 to May 1, 1951, and $65,000,000 rapid transit
series, due May 1, 1966.
offered
1936, to Sept. 30, 1939; $25 a share from Oct. 1, 1939, to Sept.
thereafter.
These bonds are redeemable at the
and $30 a share
Terminal
Bush
Buildings
Plan
Co.—Reorganization
Rejected—
A committee representing more than 80%
of holders of guaranteed
preferred stock of the company on Aug. 3 rejected the plan of reorganization
proposed by Irving T. Bush, President.
(See digest of plan given in V.
143, p. 421).
Bush's plan was mailed to stockholders July 30, several weeks after the
committee proposed a'reorganization which would bring former Governor
Alfred E. Smith and George McAneny, President of the Title Guarantee &
Trust Co., to the board of directors, and is designed to end months of
litigation in the courts.
The Bush plan, said the committee, is not new.
It was, the committee
said, submitted by Mr. Bush to the courts, the Special Master and the com¬
mittee more than a year and a half ago and was not accepted. It will not be
accepted now, the committee added.
^
The committee predicted that foreclosure and sale of Bush Term. Co.'s
roperties to pay its debts will be the inevitable result of any further attempts
y Mr. Bush to defer prompt reorganization.
The committee pointed out
that some means of quickly satisfying claims of more than $5,000,000 must
.
E
be devised.
•
"Mr. Bush's obvious purpose in reviving a plan he knows does not and
meet with the approval of our committee is to confuse the whole
issue in the hope that some reorganization which will regain for him control
cannot
$46,799
Net profit.
$225,459
$266,525
$34,302
of Bush Terminal Co. will evolve." said
Balance Sheet June 30
1935
1936
$358,912
surr.
val.
145.243
213,652
40,220
1,280,655
204,576
44,229
972,162
565,927
1,374,494
of
life insurance.
x
$128,173
17,621
Cash.j.--—----Cash
__
Notes & accts.rec
Inventories
Other assets
38,475
y Permanent assets 1,260,316
Circulation, good¬
3,556,496
will, &c
Deferred assets.._
219,205
Sinking fund assets
his plan
&
Total
x
...$6,985,452
27,965
141,833
stock
cum.
stock
z
-
$7,064,6991
1,226,000
1,226,000
902,400
802,995
902,400
2d pref.
,
Common stock._
818,230
1,226,569
1,226,896
$6,985,452 $7,064,699
Total
x After allowance for doubtful of $184,628 in 1936 and $186,361 in 1935.
After allowance for depreciation of $793,897 in 1936 and $839,245 in 1935.
Represented by 50,000 no par shares.—V. 142, p. 2987.
Bucyrus-Monighan Co.—Earnings—Condensed Income Account—Six Months Ended June 30,
1936
Gross income from sales, after deducting cost of material, labor and
$27,369
32,624
manufacturing expenses, but before depreciation.
General, administrative and selling expenses
Operating loss, before depreciation
$5,254
5,594
Interest and discount (net)..
Profit, before depreciation
Depreciation
Loss for six months
;
$339
12,839
;
•"
..$12,499
....
'•
Balance Sheet
Assets—
June 30'36
Dec. 31 '35
$583,708
323,525
288,724
168,064
$547,249
Cash
a
Receivables
Inventories.^
Treasury stock
511,106
164,150
152,661
Cash value of life
Insurance
Expense
13,925
1,081
to
employees
equip.
b Mach'y &
Good-will
Accrued expenses.
Due to affll. co
Class A pref. stk.
12,075
d Class B com. stk.
597
Paid-in surplus
Earned surplus...
advances
275
$38,208
50,777
51,891
4,662
600,000
200,000
121,295
489,433
,<
-
168,267
1
$40,827
14,569
106,464
19,375
600,000
200,000
121,295
447,723
160
170,949
Dec. 31 '35
Accounts payable.
Dividends payable
c
Prepaid ins urance.
June 30'36
Liabilities—
1
...
....$1,550,253 $1,556,267'
by 40,000 shares (no par),
value).—V. 142, p. 1460.
...$1,550,253 $1,556,267
d Represented by 40,000 shares (no
par
(Edward G.) Budd Manufacturing Co.—Company and
Subsidiary to Issue $12,500,000 Bonds—Real Estate Company
The committee asserted that under its
plan, the $5,000,000 of pressing
remaining outstanding, the committee added.
Unless its plan is approved and the suggestions of Mr. Bush rejected, the
committee indicated it would move for sale of assets of the Terminal com¬
pany.
Judge Inch fixed Oct. 7 for hearing of Mr. Bush's objections to the
dividend guaranty after the United States Circuit Court of Appeals held
that sale of assets for the benefit of creditors should proceed unless a satis¬
factory plan of reorganization was agreed upon.
The committee's plan contemplates the combination of the assets of the
two companies and the preservation of equities of the stockholders of both
companies. Control would be vested in voting trustees for the benefit of the
guaranteed preferred stockholders until ail preferred dividends had been
paid for a period of two years.
Annual earnings are sufficient to pay bond interest, said the committee,
and economies resulting from unification of properties and operation free
from litigation should leave a substantial amount of money available for
payment of dividends.—V. 143, p. 746.
Bullock's, Inc.—Common Dividend Increased—
a dividend of 75 cents per share on the com¬
stock, payable Sept. 1 to holders of record Aug. 10.
Previously,
regular quarterly dividends of 25 cents per share had been distributed.
In
addition an extra dividend of 50 cents per share was paid on Dec. 16, 1935.
—V. 143, p. 265.
The directors have declared
mon
Butte
Copper & Zinc Co.—Earnings—
ore
xl,578
Total
Administrative expense and taxes
Net income
x
Manufacturing Co. and Budd Wheel
Co. on July 29
Exchange Commission registration statements
(Nos. 2-2369 and 2-2370, Forms A-2) under the Securities Act of 1933 cover¬
ing the issuance of securities in a plan to liquidate the Budd Realty Corp.
The Edward G. Budd Manufacturing Co. will
acquire approximately 75%
of the real estate of Budd Realty Corp. and the Budd Wheel Co.
approxi¬
mately 25%, it is stated.
The Edward G. Budd Manufacturing Co. proposes to issue
$10,500,000
fried with the Securities and
first mortgage convertible 4^% bonds, due Oct. 1, 1951, warrants
ybjch will be issued to its common stcokholders to purchase the bonds, and
525,000 shares of no par value non-cumulative
$0.01
stock)-
Includes dividends.—V. 142, p. 3158.
1936
143, p.
$119,829
def20,238
def53,603
$92,406
def9,375
def45,524
1,093,596
138,825
def30,827
1,236,844
253,624
68,514
932,067
191,888
9,591
1—
Gross from railway
Net from railway
Net after rents
—V.
def69,664
102.
common
stock, which is to be
June—
1935
1936
1933
$78,987
defl5,814
def37,121
$98,909
10,476
def 11,029
487,614
def217,529
def370,375
Net after rents
$75,492
def23,679
def45,267
469,115
def127,275
def257,472
492,216
def94,708
def227,124
415,285
def96,746
def231,146
1—
Gross from railway
Net from raUway
Net after rents.
—V. 143, p. 102.
California Art
Tile
Corp.—Accumulated Dividend—
dividend of 50 cents per share on account
of accumulations
4^2 % bonds, due Oct. 1, 1946, warrants which will be issued to its
payable Sept. 1 to holders of record Aug. 24.
common
Earnings.—
1934
$81,334
def31,585
def57,596
Gross from railway
Net from railway.
From Jan.
1933
$109,242
def30,498
def61,157
1,250,826
119,106
Net after rents
From Jan.
.-
1934
1935
$118,996
def57,296
def93,306
Gross from railway
Net from railway..
reserved for conversion of the bonds.
Wheel Co .proposes to issue $2,000,000 of first
mortgage convertible
$4,137
$0.01
$15,385
;
Earns, per sh. on 600,000 shs. (par $5) cap.
$9,879
5,741
$8,137
received
33,610
$8,662
1,216
$16,963
8,826
settled for
Receipts from lessee, operator of co.'s properties-Interest
1935
1936
32,739
3 Months Ended June 30—
Tons of
Canadian Pacific Lines in Vermont.-
to Be Dissolved—
Edward G. Budd
that
claims would be satisfied by consolidating properties and issuing stock and
Revenues will be sufficient to pay the interest on the bonds
Canadian Pacific Lines in Maine.— -Earnings
Total
a After reserve for credit losses of
$65,243 in 1936 and $64,890 in 1935.
b After depreciation of $345,197 in 1936 and $334,876 in 1935.
c Repre¬
sented
"He knows
said the committee, voting control would be
given to stockholders of the Terminal company—a provision which will
unacceptable to the committee until dividends on the preferred
stock have been resumed for a reasonable length of time.
June—
Total
committee.
income notes.
7% cum. 1st pref.
Surplus
y
2,587,000
27,988
114,328
_
Reserves
7%
3,556,496
73,396
2,375,000
Deferred income.
the
has been before the courts and has failed to gain the necessary
support and approval."
Under Mr. Bush's plan,
remain
long-
debts
term
$71,410
63,288
$167,393
142,453
Accounts payable _
Accrued liabilities.
Funded
1935
1936
Liabilities—
The directors have declared
on
the
a
$1.75 cum. conv.
class A stock, no par value,
Dividends of 25 cents were
143
Volume
paid
Financial
/
June 1 and March 1 last, this
April 1, 1930, when a regular
was paid.—V. 142, p. 3333.
on
since
share
latter being the first
with SEC—
Ltd. (& Subs.)—Earnings—
Bud Breweries,
operating profit for 6 months to June 30,
salaries & directors' fees
Net
tion of executives
Total.
& depreciation—
Federal income tax
—:—
Provincial income tax.
1
1.
Dividend payable July
-
Total
_
Balance at
it .;i0.
20,1936— —
-
& Ji;.
$27,133
81,245
390,076
$65,461
Cash
85,552
Accts. receivable..
1,695
house Cos
.
Land, bidgs., ma¬
chinery & equip. 1,571,911
_
special deposits.
Cash in closed bks.
40,380
61,335
(less res.$14,260)
Defd. debit items.
$326,613
60,000
1,405
151,792
3,827
150,554
Georgia Ry.—Equipment Trusts—
Central of
sale of $400,000 equipment-trust cer¬
hopper-bottom coal cars of 50-ton capacity
each.
They will be built at the Pullman Standard Car Mfg. Co's Bessemer,
Ala., plant, at a cost of $2,315 each—V. 143, p. 747.
& accr.
105,135
20,063
5,612
5,612
City
properties-
30,000
30,000
1,445
990,000
2,890
373,103
990,000
467,457
482,453
24*450
-
pay. on
Club
Deferred contract.
Deprec'n reserve.
399,974
_
Capital stock—
y Surplus.
Special reserve re
x
licenses,
V
V-W, 20
&c
20
•
the issuance and
order to buy 200
in
tificates
zl20,988
60,000
Central Illinois Light Co.—Earnings•—
[A Subsidiary of Commonwealth & Southern Corp.]
1936—Month—1935
$606,318
$571,417
Per.End. June 30Gross revenue
& taxes
Prov. for retire, reserve.
318,639
75,000
288,258
60,000
Int. & other fixed chgs._
101,942
$2,166,736 $2,073,735
Represented by 150,000 no par shares,
y Includes capital surplus on
purchase of City Club Breweries, Ltd., shares, being excess of appraisal
values over price paid of $200,845 and earned surplus of $266,614 ($281,608
in 1935).
as Bills and accounts payable only.—V. 142, p. 4332.
Total
$2,166,736 $2,073,735
x
(& Subs.)—Earnings—-
Qanada Dry Ginger Ale, Inc.
exps.
Divs.
on
Gross mfg.
profit
sell.,
Adv.,
$1,312,807
$1,402,831
-
distributing
3,233,745
& adminis. expenses __
1,319,129
1,282,625
2,423,093
Prof, from operations.
$83,701
11,288
$30,182
24,991
$11,886
43,441
$300,387
61,638
$55,173
$55,327
$362,026
Other income-*.;
$94,989
Gross income
income taxes)
_
,50,958
Depreciation
S.
U.
2,025
'
Interest
income
(estimated) .
taxes
24,889
$22~556
interest
Includes
$85,809
discounts earned for
of bills for purchases, &c.—V
142,
prompt payment
"
Earnings of System
113,007
earnings._ $4,168,410
Oper. expenses & taxes..
3,498,820
$4,030,262
3,376,880
$3,887,429
3,254,546
$4,313,315
3,257,410
$669,591
$653,382
$632,883
$1,055,905
90,444
91,677
483,810
24,493
92,109
483,810
25,008
483,810
91,655
483,810
5,533
25,346
51,935
52,380
52,475
52,569
$18,908
$74
lcss$613
$402,523
Total gross
Interest on funded
"
$3,883,000
j'
bonds.
_
General interest
Amortization of debt dis¬
count and expense
742.
—Y. 141, p.
Earnings for the 6
'
Increase
$81,476
Property taxes.-.,--..--.......x.x..,
Other taxes (exclusive of Federal income tax)
—
2,440
7,784
10,559
First mortgage bonds interest.
;■
...
90,324
Notes and advances.....—13,657
Federal normal income tax..
21,203
.
184,979
Depreciation and amortization
$44,999
$5,134,802
.$121,869
Net income.
Class
Balance Sheet June
A
A.S8CtS
:
Accounts
Products Corp .—Admitted to
'
$121,137
a49,886
and in banks..
receivable
—
Cash surr. value of life insur¬
ance policies
Land, bldg., equip.,
Deferred charges
27,185
Ac...— b9,917,289
125,107
-
Curb Exchange has
and registration.—V.
Constitute New Company Under
Pipe & Foundry Co. Reorganization—See latter
below.—V. 143, p. 1431.
Central Foundry Co.—-To
Central Illinois Electric
■'
■■■■1 :Y,"
payable
44,817
Fed. normal inc. tax for year
-. —
payable—current
Notes payable, due |n 1944..
First mortgage bonds
Note
...
lease
;
......$10,240,606
determination of the accounts
consideration has been given
at that date, $76,000
upon
b After reserve
& Gas Co.—Earnings—
Total
..$10,240,606
4,517,000
12,450
5,775,300
234,252
946,904
receivable at June 30,1936, no
hotel guests and tenants
collection of which (as provided for in the
agreement) the company will be entitled to receive 90% thereof,
In the
a
21,312
10,000
7,000
560,000
1936
Lease commission
58,563 shs..
Capital stock assessments
Deficit at Dec. 31, 1935
Total-
$5,377
.......
Accrued Interest
Stated cap. stk.
Listing and Regis¬
admitted the common stock, on par
143, p. 746.
Accounts
Deferred rental income
-
The New York
30,1936
Liabilities—
'
(rJ
Cash on hand
meeting held Aug. 6 declared the regular quarterly dividend
of 75 cents a share on the $3 cumulative preferred stock, series A, payable
Oct. 1 to holders of record Sept. 16.
They also declared a dividend of 50
cents a share on the class A stock and a dividend of 12.8 cents a share on
the class B stock, both dividends likewise payable Oct. 1 to holders of record
Sept. 16.
The latter two dividends are the initial payments on these stocks.
—V. 143, p. 422.
Directors at a
Universal
159
$534,296
—■
and B Dividends—
company
made by lessee
—
Ltd.—Initial
Co.,
Administration
value, to listing
$490,789
43,346
-
value of property additions
Miscellaneous expenses
1935
1936
Casco
Months Ended June 301936
Income rentals
„
.
tration—
Corp.—Earnings—
Central Investment
Insurance-
Fourth Week of July
$5,179,801
Gross earnings
Capital
'
$49,000
Ry$.-—Earnings—'
Earnings of System for
143, p. 746.
•
$3,834,000
746.
Canadian National
Increase
1935
1936
—V. 143, p.
debt:
Total
for Fourth Week of Juoy
Gross earnings
—V.
10,122
.
Miscellaneous——.....————————
Ry.—Earnings—
Canadian Pacific
105,977
21,509
& other in-
revs.
(net).
Pro rata of cost
3159.
p.
119,254
141,186
come
with
balances
1932
$4,094,331
22,032
of transmiss'n facil
Miscell.
$199,643 prof$!0,640
together
bank
and
investments
on
1933
$3,758,052
151,887
Total oper. revenues
Rent from affil. co. for
- -
Net loss for the period
x
11,981
29,366
Cr2,994
$1,333,069
1934
$3,867,566
Net income....
of
Dominion
&
Canada
178,898
156,040
4,466
$1,364,777
1935
$3,994,490
Net earnings
122,534
100,263
2,805
79,606
62,848
1,522
39,672
3,585,502
770,115
841,519
693,013
Subs.)—-Earnings—
Central Indiana Power Co. (&
Calendar Years—>
On parent co.
.
_
$99,774
$59,705.
On sub. co. bonds
(excl.
of deprec., int., U. S.
& Dominion of Canada
deductions
Other
841,535
684,430
57,751
51,031
pref. stock
$7,223,219
840,000
143,p. 423.
-V.
use
1936—6 Mos.—1935
$2,434,980
$3,534,132
1936—3 Mos.—1935
Period End. June 30—
1936—12 Mos.—1935
$7,898,359
4,167,615
65,633
Oper.
Balance
Total..
the Interstate Commerce
5 sought authority from
The receivers on Aug.
Commission for
S60.071
$71,175
30,018,060 30,247,534
142, p. 3842,
Total.
Represented by 74,242 no par shares.—V.
x
June 30 '36 Dec. 31;'35
30,247,5341
30,018,060
Total.
$266,613
Res. for inc. tax..
20
10,497
29,339
2,327
taxes, «fec
47,380
i- - - ~
liabilities
1,562,980 Mtge.
20
25,609
&c
Licenses,
Deferred charges.
1,783
37,358
2,442
357,438
566,430
Sink, fund & other
—
Mtge. & int. pay..
Ware¬
in
17,793
160,786
3,766,581
94,542
on
MLscell. invests__*•
281,608
Dividends payable
426,489
Inventory
333,117
115,749
—■■■—.
Accts. pay.
16,874
180,671
Prepaid insurance,
income &
Bank loan secured.
100,005
535,639
4 ,003,963
312,949
525,469
:
——:
Capital surplus
Earned surplus
237,742
564
Dr2,375
Liabilities—
June 30 '36 Dec. 31 '35
103
.
over
Reserves..
rental.........
Sheet
Balance
Shares
-
—refund,
Jong term
Defd. credit items.
889
materials
& supplies
Appliances
$47,380
credit—June30,1936——.-......—
Assets-
Mdse.,
$86,094
29,6.88
8,460
—■-
...
....
accounts..
■
""'375
Due from affil.cos.
—
1935
Income Tax adjustments applicable to prior years
Net profit for 6 months ended June 30, 1936, from
expenditure account.—
1—
9
111,295
558,561
-
Service exten. deps
12
Accrd. int. receiv.
17
---
......
Net profit for 6 months
Balance at credit—Dec. 31,
2,228
(at cost).......
669
———.
—
658,778
500
Accrd.
Tax antic, warrants
$85,407
—
.
Consumers' deps,-
11,879
13,990
549,823
$1,029)
151,557
148,066
trade & sundry.
Duetoaffil. cos...
1935,
Accounts receiv
1936, after deduc¬
for the period.—
Sundry revenue of a recurring nature
Dividends received...—..xi--...
Provision for obsolescence
in
$
payable—
Accts.
834,946
679,974
receiv.:(less
reserve
Months Ended June 30,1936
Earnings for 6
Funded debt
.28 186,526 28,063,756
equipment
1935
$
7,424,200
7 ,424,200
16 ,736,000 17,167,000
Common stock..
x
plant &
Cash
Notes
1936
Liabilities—.
$
$ ;
.
30
1935
1936
Assets—
Property,
See list given on
Canada
Comparative Balance Shed June
distribution made
quarterly dividend of 43H cents per
California Osborn Mining Co.-—Registers
first page of this department.
913
Chronicle
to balances due from
for depreciation of
Central Investors
$2,783,143.—V. 142,, p. 2989.
Corp.—-Registers with SEC—
1936
1935
$4,448,418
1,811,249
460,193
$4,007,029
1,679,072
198,248
32,325
373,372
Central Maine Power Co.—New Directors—
The company has announced the election of two new directors,
Otis Smith and Morris B. Perry.—V.143,p.746.
$1,933,010
2,545
$1,724,010
1,708
emption—
$1,935,555
300,000
$1,725,718
300,000
an
$1,635,555
Funded debt interest
—
847,380
Other—net interest
4,659
Amortiz. of debt discount & expense on 6% bonds.
5,179
Federal & State taxes on debt interest..
11,610
$1,425,718
870,149
7,884
5,179
13,173
bonds, series
$766,726
566,430
$529,332
478,400
■
■
■■■■
•
operating revenue
Operation..,.
-
Total
—
Maintenance
—
—
Uncollectible accounts.
(incl. Federal income
Taxes
Net oper. revenues
...
taxes)
before prov. for retirements..
Non-operating income—net
Balance.
Provision for retirements
Gross income
-
Net income
-
Earned surplus at
Reversal
tional
beginning of period
for Illinois Retailers' occupa¬
interest)—tax declared un¬
.
of prov.
tax
Dividends on common stock
Write-off of excess of cost of
Illinois Commerce
Premium on bonds
100,826
...
$1,333,157
801,813
Total
end of period-
4,444
1,430
162
$525,469
$566,430
property purchased
Commission valuation._
retired—
Earned surplus at
$1,108,559
541,966
—
x._—
given on first page
Central
Vermont
of this department.
Public
Service
George
I
Corp.—Seeks Ex¬
corporation has filed with the Securities and Exchange Commission
application (32-30) under Section 6(b) of the Public Utility Holding
The
the requirement of filing a declara¬
Company Act of 1935 for exemption from
tion in connection with the issue and sale
B. due Aug. 1,
Certain-teed
of $7,300,000 of first mortgage
1966.—V. 143, p. 747.
Products
Corp.—Recapitalization
Plan
Voted—
Stockholders at a
deferred special meeting
held Aug. 5 approved the
142, p. 3842). Approval
plan of recapitalization proposed last June (see V.
was given on behalf of more than two-thirds of the
and
common
stock, voting separately.
outstanding preferred
eliminate the consolidated deficit of the cor¬
poration and its subsidiaries, to funa the accumulated arrears of dividends
on
the preferred stock and to eliminate the accumulated arrears in the
sinking fund requirements for preferred stock.
It also will remove the
future requirements for this sinking fund.—^V. 143, p. 578.,
The
(incl.
constitutional.
over
229,482
14,482
See list
plan was designed to
Chesapeake & Ohio
Oct.
Ry.—Bonds Called—
refunding and improvement mortgage 4Yi% gold bonds,
1, 1993, were called on July 31, 1936, for redemption on
1, 1936, at 110% of par and accrued interest.—V. 142, p. 748.
The company's
series A, due Oct.
914
Financial
Chain Store
3 Mas. Ended June 30—
Dividend income.
1934
S3,816
$2,946
504
326
$1,449
278
37
10
_
_
_
»
-
-
-
120
310
""301
199
118
165
-
$3,156
Security Transactions
Net Income to current surplus
Loss from
Sales of securities
Cost of securities sold
$11,208
10,431
—--
_
Net loss from security transactions
,
$2,072
'
;
$13,614
17,667
Cal.
$704
Yrs.
$34,192
1927
1
53,743
1928
2,736,600
3,052,412
3 155,469
2,735,827
$19,551
1930
1931
Surplus Account
Deficit from
Security
Surplus
Transactions
$539,767
$351,715
—--777
Capital
i
Balance, April 1,1936.
Gain from security transactions
Current net income
Railway
Operating
Expenses
$647,131
944,769
1,148,070
1,295,559
1,433,538
1,274,023
808 012
Available
for Fixed
Charges
$333,518
loss499,772
Railway
Operating
Revenues
$248,312
loss359,138
603,05/
£33,721
£77,574
2^,2^
752,858
641,205
571,816
476,779
.
1932
Current
3 026348
635,207
829,349
1,034,829
1,100,321
388,525
1,096,678
238,546
1,005,804
1934'
Surplus
$7,902
2 058 561
1933
'
2,974,211
3,248,355
964,197
1,098,420
1,158,413
1,224,854
851,601
925,081
808,053
823,212
1935
Depreciation on equipment only.
Annual interest requirements on the
x
"3", 155
—
r
Income
and Depreciation
$575,598
L222.381
985,473
1,079,279'
969,073
820,599
$1,471,041
1929
__,
Net
Other
Main-
tenance
Revenues
1926
a
,,
x
Railway
Operating
'
•
below
given
Peoria RR.
.
$4,052
prof$777
Aug. 8, 1936
schedule of certain items prepared
from the income statements of Chicago & Illinois Midland Ry. and Spring¬
field Havana & Peoria RR. for the calendar years which items eliminate
inter-company rentals, interest, dividends, &c.. and give effect to the
direct ownership and operation of the properties of Springfield Havana &
Earnings—There is
1935
1936
.
Managers' commissions
Interest:
Taxes
Miscellaneous expense
Chronicle
Corp.—Earnings-
Investment
.
'
series A bonds initially will amount
$247,500, and the maximum annual interest and sinking fund require¬
ments on the series A bonds will amount
to $452,500.
Interest on the
$1,500,000 6% income debentures will be payable only out of income
available for fixed charges accumulated after March 1, 1936, by the com¬
pany (after deducting all rents and interest on bonds issued under the
mortgage) and then only to the extent ordered paid by its board of directors;
and such interest, to the extent any instalment is not paid, will not be
to
$539,767
$350,938
$11,057
2,743
$539,767
$350,938
$8,3J4
Dividends paid on preferred stock—
Balance June 30,1936.
Balance Sheet June'SO
Assets—
1936
Cash
'
Liabilities—
1935
$4,818
1936
Unclaimed divs
$4,825
322,420
Invest, at cost..
a
347,747
$292
Reserve for taxes..'
1935
Accounts payable.
2,509
101,025
Common stock..
10,000
10,000
539,768
540,027
350,938
328,078
c
;
Deficit from
....
$327,238
$355,080
Total
Gross from railway.
Net from railway
Net after rents
8,314
.....
$355,080
1934
$337,134
100,225
39,620
8,703
2,045,473
506,188
1,812,568
429,458
def77,999
_
1—
■
■
1933
$326,123
94,671
$.326,247
111,191
4,485
12,398
.
_
-
84,200
l,/05,908
364,105
defl05,340
—V. 143, p. 105.
Market
stated
1935
$379,340
116,179
_
Net after rents
value, $425,896 in 1936 ($305,813 in 1935).
b 2,195 shares
per share in 1936 (2,245 shares at stated value of
$45 per share in 1935).
c 100,000 shares at stated value of 10 cents per
share.—V. 143, p. 423.
a
at
Jan.
From
_
Gross from railway
Net from railway
7,726
$327,238
'
1936
June—
secur¬
ity transactions.
Current surplus
Total
Chicago Rock Island & Gulf Ry.—Earnings
24~089
98,775
Capital surplus...
(50 shares pref.)
11,999
b Pref. stock
Treas. stock at cost
cumulative.—V. 143, p. 749.
$292
9.029
1,637,549
454,245
defl37.953
v
value of $45
Chicago Rock Island & Pacific Ry.—-Hearings
on Plan
reorganization plan for the road and its
the Interstate Commerce Commission
Boyden and H. H. Wilkinson, examiners, will
Public hearings on the proposed
will start on Oct. 6,
subsidiaries
Chesapeake & Potomac Telephone Co. (Baltimore)—
announced Aug. 4. R.
conduct the hearings.
New Vice-Presidents—
T.
'
"
John A.
Iiemon and Ralph A. Van Orsdel have been elected Vice-Presi¬
dents of the company.
Mr. Reraon, who has been general manager, since
learnings
Month of
May 1, 1931, will be placed in charge of operations, succeeding Marshal D.
Sedam, retired.—V. 142, p. 2492.
Railway operating revenue.
Net revenue from railway operation
Net railway operating income
—Y. 143, p. 749.
Chicago & Illinois Midland Ry.—Bonds Offered—HalStuart & Co., Inc., Brown Harriman & Co., Inc., Field,
Glore & Co., Harris, Hall & Co. (Inc.), Edward B. Smith
& Co. and Lee Higginson Corp. on Aug. 5 offered at 99M
and int. $5,500,000 1st mtge.
20-year sinking fund 4^%
of
System
June—
—
' 1936
$6,699,682
879,398
33,805
1935
$5,195,975
129,450
def569,025
sey,
Co.—Bonds Offered—Kuhn.
Corp., Brown Harriman &
Co., Inc., Edward B, Smith & Co., Field, Glore & Co. and
The First. Boston Corp. on Aug. 4 offered $7,000,000 guar¬
anteed 3lA% bonds at 102 and int.
Chicago
Union Station
& Co., Lee Higginson
Loeb
bonds, series A.
Dated March 1,
1936; due March 1,
1956.
Principal and interest
(M. & S.) payable at office or agency of company in Chicago and int. will
be payable at the office or agency of the
company in New York.
also
Definitive bonds will be in coupon form in the denom. of $1,000,
registerable
as to principal only, and in
fully registered form in denom. of $5,000 &nd
authorized
multiples thereof.
changeable.
in
or
part,
Coupon and fully registered bonds inter¬
Series A bonds will be red. at option of company, in whole
at any time upon 30 days' notice at following percentages of
principal:
On or before Feb. 28, 1941, at 104%; thereafter but on or before
Feb. 28, 1946, at 103%; thereafter but on or before Feb. 28, 1951, at
102%;
but on or before Feb. 28, 1954, at
101%, and after Feb. 28,
1954, at 100%; plus int. in each case.
Bonds will also be red. for sinking
fund purposes on 30 days' published notice at
thereafter
101% plus int.
6% income
$2,400,000 additional capital stock have been authorized
Interstate Commerce Commission and the Illinois Commerce
Issuance—Issuance and sale of these bonds and
$1,500,000
debentures
by
the
and
Commission,
Sinking Fund—The mortgage will provide for a sinking fund requiring
the annual deposit of cash or series A bonds sufficient in the
aggregate to
retire before maturity all of the $5,500,000 of series A
bonds, excepting
$350,000 of such bonds.
Bonds will be redeemable for sinking fund purposes
at 101 plus int.
•
•
.
.
Control—Commonwealth Subsidiary Corp. (the stock of which is owned
by the Commonwealth Edison Co.), now owns all of the outstanding
capital stock of the company" (with the exception of directors' qualifying
shares), and coincident with the issue of the series A bonds, will acquire
$2,400,000 additional par amount of such capital stock and $1,500,000 of
6% income debentures.
Company—Company operates 131.64 miles of single main track, of which
106.21 miles are owned and 25.43 miles are
operated under trackage rights,
located in central Illinois and extending in
general form from Taylorville
through Springfield, Havana and Pekin to Peoria.
From
March
17,
1926, to July 16, 1936, the portion of the railroad from Springfield to Pekin
was
owned
Dated
Sept. 1, 1936; to be due Sept. 1, 1951.
To be guaranteed by
as to
ooth principal and interest, jointly and severally,
djs
Burlington & Quincy RR., Pittsburgh Cincinnati Chicago &
St. Louis RR, Pennsylvania RR, and Henry A. Scandrett, Walter J.
Cummings and George I. Haight as trustees of the property of Chicago
Milwaukee St. Paul & Pacific RR.
Coupon bonds to be issued in $1,000
denom., registerable as to principal and as fully registered bonds in auth¬
orized denoms.: coupon bonds and registered bonds to be
interchangeable
under the provisions of theindenture.
Interest payable M. & S. Theentire
issue of these bonds may be redeemed as a whole only, on any interest date
on and after Sept.
1, 1941, on 60 days* previous notice, at the principal
amount thereof and accrued interest, plus a premium of 5% of such
prin¬
cipal amount, if red. on Sept. 1, 1941. such premium thereafter decreasing
Yi of 1% for each 12 months or portion thereof between Sept. 1, 1941 and
date of redemption.
Bonds may also be redeemed for sinking fund on any
Sept. 1 commencing Sept. 1, 19.37, on like notice, at the principal amount
endorsement
Chicago
thereof and accrued interest.
Sinking Fund—As a sinking fund for these bonds, the company will
covenant to set aside, on or before Sept. 1, 1937 and thereafter on or before
Sept. 1 in each year, for the redemption of bonds at their principal amount
and accrued interest, the sum of $35,000, less, in any year, the
principal
amount, if any, of bonds which the company shall have delivered to the
trustee for cancellation on or before the 20th day of June in such
year.
No bonds may be issued under theindenture in lieu oi bonds retired
by the
sinking fund.
•
Issuance—Subject
to
the
approval
of
the
Interstate
Commerce
Commission.
>
are legal invest¬
savings banks under the laws of New York and other States.
Listing—Company has agreed to make application in due course to list
these bonds on the New YorkgStock Exchange.
by Springfield Havana & Peoria RR.
(a wholly owned sub¬
Illinois Midland Ry.) and was operated by Chicago
Ry. under lease.
On July
16, 1936, acting upon
authority granted by the ICC and the Illinois Commerce Commission,
Chicago & Illinois Midland Ry. acquired all of the properties of Spring¬
field Havana & Peoria RR.
The territory served by the company is
devoted principally to coal mining,
milling and agriculture.
Of the com¬
pany's railway operating revenues for the year ended Dec. 31, 1935, almost
97 % was derived from freight traffic and about 77
% from the transportation
of bituminous coal, the major
portion of which originated from certain
Peabody Coal Co. mines served exclusively by the company and was
consigned for use of Commonwealth Edison Co., Public Service Co. of
Northern lllinms and Chicago
District Electric Generating Corp.,
at
generating stations located in or near Chicago, and of
Super-Power Co.
of
Illinois at
Powerton, 111.
These utility companies have contracts
expiring in 1958 with Peabody Coal Co. (certain of the mines of which
are served by the company)
under which the utility companies agree to
purchase at least 75% of their coal requirements.
Purpose—Proceeds of this issue will be used as follows:
(a) $4,450,500 (the proceeds of sale of $4,600,000 of this issue) toward
the redemption on or about Aug. 11,
1936, of $4,600,000 1st mtge. 6%
gold bonds, series A, due June 1, 1955 (now owned
directly or indirectly
by Commonwealth Edison Co. and the trustees of the service annuity
fund of Commonwealth Edison
Co.).
(b) $210,915 (the proceeds of sale of $218,000 of this issue) toward
the redemption on or about
Aug. 11, 1936, of $218,518 of equipment
obligations.
(c) $659,835 (the proceeds of sale of the remaining
$682,000 of this issue)
to reimburse the company for
moneys expended by it out of its treasury
for additions and betterments to its
physical property.
Additional moneys (estimated at
$470,000) required will be paid out of
the company's current funds.
Issuance of Additional Securities—Coincident with
the issuance of the
series A bonds, the company will issue
$1,500,000 of 6% income debentures,
due March
1, 1957, and $2,400,000 additional par amount of capital
stock.
Such debentures and additional
capital stock will be accepted
by Commonwealth Subsidiary Corp. as payment in full of $3,900,000
out of a total of $5,468,760 of advances
heretofore made by that cor¬
poration to the company and expended by the
company for additions and
betterments to its physical property and for other
corporate purposes.
Simultaneously Commonwealth Subsidiary Corp. will cancel the balance
Illinois
,
Legal Investments—In the opinion of counsel, these bonds
ments for
sidiary of Chicago &
&
Continental Illinois National Bank & Trust
Co. of Chicago, trustee.
Midland
of such indebtedness.
Capitalization—Upon the issuance of the series A bonds, $1,500,000 6%
income debentures and $2,400,000 additional
par amount of capital stock,
the application of the proceeds thereof and the cancellation of
$1,568,760
non-negotiable debt due the parent company, the capitalization of the
will be as follows:
1st mtge. 20-year s. f. 4Y % bonds, series A, due March
1, 1956 $5,500,000
6% income debentures, due March 1, 1957
_'_n.
1,500,000
Capital stock (par $100)
4,000,000
company
Data From Letter of M. W.
Clement, Pres., Dated Aug. 3
Company—Company owns extensive station and terminal properties in
Chicago, extending for about 12 blocks from Carroll Ave. to West Roosevelt
Road, a distance of approximately 1.43 miles, principally between the
Chicago River and North and South Canal sts., and incl. the present city
block bounded by West Adams, West Jackson, South Clinton and South
Canal streets.
Under an agreement dated July 2, 1915, and supplements thereto, the
proprietors or those who succeed to their obligations are obligated to use
the station and facilities of the Station company during the corporate
existence of the Station company, which extends to July 3,
1963, and
for
further time as the station and facilities may be used or the
of the corporate existence of the company may be extended or re¬
Under this agreement and its supplements, each of the proprietors
such
term
newed.
obligates itself to pay as rental its share of a suin of money sufficient to pay,
among other things, the interest on the bonds and other capital obligations
of the Chicago Union Station Co., and all taxes and special
assessments,
together with a proportion of the expenses of operation and maintenance.
The Alton RR. also makes use of the property under an agreement dated
Sept. 18, 1915.
.
its valuation report on the Station company (Valuation
1,198) the Interstate Commerce Commission found a final
value, for rate making purposes, of the property owned by the Station
company and used for common carrier purposes, as of Dec. 31, 1927, of
$49,340,000 (excluding working capital of $50,000).
If the property
classified and valued by the ICC as "non-carrier" (and included in the
Station company's balance sheet in investment in road and dquipment) is
included, the total as of Dec. 31, 1927 would be $54,195,01] (excluding
working capital of $50,000).
This valuation brought down to May 31,
1936 by adding the cost of additions and betterments and deducting
retirements is reduced to $48,573,333.
Investment of the Station company
Valuation—In
Docket
No.
of May 31, 1936, as shown by its books, was
The difference between the valuation of the Commission and
is due principally to two items: "value of land"
carried on the books of the Station company at $18,752,307 in excess of
the valuation determined by the ICC and "interest during construction"
which is charged in the accounts of the Station company at $16,479,179 in
excess of the Commission's figure.
The amounts carried on the books of
the Station company represent the actual cost to it of the land and for
interest during the construction period.
In arriving at its final value of the properties as of Dec. 31, 1927, the
ICC took into consideration, among other things, the depreciation of road.
The Station company, as permitted by the accounting regulations of tho
in
the same property as
$83,811,866.
the investment account
sets up no reserve for
Purvose—The proceeds of
ICC
depreciation of road.
the sale of these bonds, together with treasury
required, will be used to redeem on Dec. 1, 1936 at
105% and int., $7,000,000 of the Station company's guaranteed 5% bonds,
due Dec. 1,1944. ,
funds to the extent
Volume
Financial
143
Capitalization—Company, after the present financing, will have outstand¬
ing in the hands of the public $60,000,000 first mortgage bonds (consisting
of $16,000,000, series D, 4% bonds and $44,000,000 series E, 3%% bonds,
all maturing July 1, 1963), $1,800,000 4% guaranteed bonds, due April 1,
1944 and
the
present
$2,210,000 canceled in
approximately
the refunding of
July 1, 1936,
with
connection
first mortgage series A and B bonds, called for payment on
and
approximately $480,000 of such indebtedness which the proprietors
have agreed to cancel in connection with the present financing).
General Balance Sheet as of May 31,
Asset?—
3,000
Other investments
419,295
Audited accounts and wages
...
200,517
account-185,024
Miscellaneous accts. payable
8,075
payable—...... a—
Special deposits:
Bond interest
bonds
ances
Net
Unmatured divs. declared._
Unmatured interest accrued
car-service bal¬
receivable..
Other current liabilities
31
'
receiv.
balance
Unadjusted credits
from
agents and conductors.
and supplies.....
Rents receivable
Clear Springs Water Service
Operating
Operation
297,000
55,000
income and surplus..
Sinking fund reserves
1935
_
Provision for uncollectible accounts
1934
$94,013
31,696
Cr362,
v;
General expenses charged to construction
$97,481
34,200
Cr569
1,260
1,770
7,275
852
7,955
1,234
$52,290
$52,890
—
3
Miscellaneous interest..
Amortization of debt discount and expense^
179
_
_
319
Provision for Federal income tax
;_
Provision for retirements & replacements
Net income
$52,928
34,800
791
__
Gross corporate income
on funded debt!
800
—
319
800
....
5,000
_.
2,000
$12,196
6,600
___.
Preferred dividends.
_37
$53,294
34,800
i
Interest
$14,,218
13,200
Cleveland-Cliffs Iron Co.—New Director—
a
At a recent meeting of the board of directors, Harris Creech was elected
director, succeeding George B. Young, resigned.
At the same meeting
was elected Assistant Secretary.—V. 142, p. 3843.
James L. Luke
Cleveland Graphite Bronze
2,416,749
Unadjusted debits
Executive
Co.—Earnings—
revenues
Maintenance
Generahtaxes.
3,321
57,923
Deferred assets
member
and
director
Calendar Years—
Funded debt retired through
474
1,182,033
32,991
__
Miscell. accounts receivable
Material
Funded debt matured unpaid
47,311,975
11,711
_
Miscellaneous.....
Traffic and
185,024
84,000
58,333
1,820,812
8,100
2,723,108
Interest matured unpaid
For redemption of 1st mtge.
a
Net earnings
1,377,018
Cash....
of the
remains
p. 580.
Other income.
$2,800,000
Capital stock........
Long term, debt. _____—... 127,973,442
Loans and bills payable
600,000
$83,811,866
equip
Sinking funds
Paul H. Saunders,
President,
Committee.—V. 143,
1936
Liabilities—
■
-
Invest, in road and
has been made Executive Vice-President and Treasurer.
formerly
3H% bonds due
issue of $7,000,000 guaranteed
Sept, 1, 1951.
The only other debt of the company (other than current
operating debt and guaranteed bank loans of $600,000) is $12,483,442.44
indebtedness to the proprietors for advances (after deducting as agreed
915
Chronicle
Co,—Earnings-
1936—3 Mos.—1935
1936—6 Mos.—1935
x$361,279
x$679,710
Period End. June 30—
Net income after deprec.,
Total.——.. ..$136,813,413
$136,813,413
Total
-V. 142, p. 4333.
Federal taxes, &c_
Shs. com. stk. (par $1)._
Earnings
Sheet-
Cincinnati Advertising Products Co .---Balance
Assets—
June 30, '36
Cash.........
Marketable
$49,640
Notes
$33,419
148,870
145,799
1,921
Notes rec.—trade.
1,817
(secured).
12,500
11,000
2,456
2,456
liability........
69,149
47,555
Accrued
Call loan secured—
12,500
officer
Accts.
rec.—trade
Accts.
tax
9,063
Debit
balance
291
creditor's
159
y
_
86,500
86,500
surplus...
367,838
341,062
Capital stock..
Earned
Inventories—mdse.,
mat. & supplies.
Notes
822
tax
9,081
2,868
66,839
77,145,
rec.—the
Royal Blue Bed
Co., due
1, 1941,
pledged on notes
payable.
Accr. int. thereon.
Spring
March
227
x
124,982
&
4,615
Total.
$488,410
12,541
1936
Assets—
x
$488,410
$528,798
Total
depreciation of $95,248 in June ,1936, and $88,256
in December, 1935.
y Represented by 25,000 no par shares.
The earnings for the 6 months ended June 30 were published in—V. 143
p. 750.
'
■.
x
After
reserve
for
Cincinnati
Gas
&
with SEC^-To
Co.—Files
Electric
Issue $35,000,000 3 % % Bonds—
The company on Aug. 1, filed
mission a registration statement
Act of 1933
curities
with the Securities and Exchange Com¬
(No. 2-2374, Form A-2) under the Se¬
bonds, 3M %
the registration statement, the net proceeds from the
sale of the bonds together with such other funds as may be required are to
be applied to the redemption on Oct. 1, 1936, of all the company's out¬
standing $35,000,000 of first mortgage gold bonds, series A, 4%, at their
principal amount plus accrued interest.
>
The redemption provisions are to be furnished by amendment to the
registration statement.
intend to enter into an underwriting
agreement until after the effective date of the registration statement and
will file a post-effective amendment giving the price to the public, the
names of the underwriters, and the underwriting discounts or commissions.
Hubert C. Black well, of Cincinnati, is President .-—V. 143, p. 580.
Citizens Water Co. of Washington,
1934
1935
Calendar Years—r
103,362
General operations.
Maintenance.
_
Provision for retirements
7,063
25,800
_
......
Taxes (other than Federal income).
Pref. divs.
203,135
205,860
Deferred charges..
$210,419
...—„ —
Interest
ncome
on
_
funded debt
Other interest (net)
a
-
4.263
$208,364
106,396
•265
-.—
a
—
_—
105
— ~
12,828_
Amortization
of
debt
&
discount
miscellaneous deductions
Net income_.__._A
and
expense
.
12,780
12,749
$83,481
$78,107
41,907
—
*—
....
11.006
_
40.084
Preferred stock dividends—paid...
Balance Sheet Dec.-31, 1935
Liabilities—
Assets—••
Property, plant & equipment $3,578,199
1,703
Special Deposits
Cash
x
68,316
34,885
_____
Accounts receivable
Materials & supplies
22,414
4,687
.
—
Other assets
1,808
Prepayments
Unamortized debt discount &
180,012
expense
Accounts
•
.
$1,967,600
payable
Interest & dividends
2,284
26,485
62,709
payable
Consumers' service deposits..
Other
current
19,560
1,071
33,949
17,000
liabilities....
Accrued liabilities.
Due to affiliated companies..
Deferred credits
•
Other deferred charges
-
Funded debt
88
...
Consumers'extension deposits
1,498
576,242
Retirement reserve.
Contributions for extensions.
2,051
7% cum. pref. stk. ($100 par)
569,700
150,000
429,397
Common stock
Capital surplus
y
_
Earned surplus
36,958
Accrued
payable
Surplus.
Total
450,241
113,520
taxes
86,589
59,482
3,894,878
59,483
4,333,854
12,215,590 12,075,683
..
Collins & Aikman
Corp.—$1 Extra Dividend—
dividend of $1 per share in addition
quarterly dividend of 50 cents per share on the common
value, both payable Sept. 1 to holders of record Aug. 20.
The directors have declared an extra
the regular
to
stock, no. par
To Retire
Preferred■ Stock—
The directors authorized the company
to call 20% of the 61,108 shares of
preferred stock presently outstanding for retirement at
accrued dividend.—V. 142, p. 4171.
the
7%
Colorado Central Power Co.—Balance
Special
1st mtge.
g.
bds., series A,
due Dec. 1 1946.
12,592
Accounts
payable.
48
973
30,068.
Accrued items__l.
4,297
69.536
24,479
4,908
67,303
Consumers'
26,497
Misc. unadj.
2,221
Notes & warr. rec.
at
_
cost..
2,164
x
3,254
Deferred assets—
deposits
Deferred
Total
_______
cred.
credits..
Common stock.
12,806
Surplus
.$1,659,365 $1,637,674
Total
.....—
.
18,930
18,850
36,902
36,137
meter
Reserves
1
invest
1935
1936
5Yj% s.t.
40.535
deposit...
Cash
Miscell.
,480,358
110 and
Sheet June 30—
Liabilities—
1935
1936
Assets—
Accts. receivable.
4,564
a
500,000
depreciation,
y Represented by 188,291 no par shares, exclud¬
ing 4,100 shares held in treasury at cost.
Our usual comparative income statemedt for the 6 months ended June
30 was published in V. 143, p. 581.
Suspense
Gross i
3,685,491
After
Invent's
$214,983
105,629
Otherincome_...::._i:.^
3,685,491
624,241
accruals
12,215,590 12,075,683
Total
3,399,000
payable...-
6,345,248
Prepayments
Earnings from operations
Common stock..
Notes
177,480
investments
10,647
$204,101
y
3,399,000
Accts. payable and
2,171,048
_
Inventories
19,584
18,507
_____— ----
«
.
1,105,447
1,679,136
176,879
progress
$354,181
107,556
12,292
$365,153
Operating revenues
1
1935
A
Liabilities—
2,563,111
Prop., pl't & eq..$l ,514,995
Constr.
work
in
Pa.—Earnings-
,
6,047,081
Accts. receivable.
to
The company, it is stated, does not
2,506,383
1
1,110,462
ings, &c
G'dwill, pats., &c_
Misc.
1936
1936
$
Preferred stock
Cash
x
covering $35,000,000 of first mortgage
1935
$
:
Pl't, land, build¬
series, due 1966.
According
to
asked
Cluett, Peabody Co., Inc.—Consol. Balance Sheet June 30
equip¬
Deferred charges..
Patents—net..
been
Hearing on the plan will be held Sept. 2.—V. 140, p. 130,7.
128,613
11,782
4,615
$528,798
Plant
reorganize under Section 77-B of the Bankruptcy Act
in an application filed by the company with William B.
Woods, Federal referee in bankruptcy at Cleveland, Ohio.
Under the plan, holders of 1st mtge. 6% 50-year gold bonds would
get 40 shares of common stock, of which there would be issued 50,000
shares, in the ratio of one share for each $28.95 of claims.
Unsecured
creditors would receive one common share for each $33.80 of claims.
If
claims are lower than that amount they would be paid 50% in cash.
Creditors of a subsidiary, the Cleveland & Sandusky Co., would get
one share for each $26.74 of claims, and if claims are less, 50% in cash.
Stockholders would be given the right to subscribe to new stock on the
basis of one new share for each 10 now held at $26.74 per share.
4,239
ment---..-....
Co.—Seeks to Reorganize
Cleveland & Sandusky Brewing
Permission
150
7,772
Offered Aug. 10—
According to Cleveland dispatches an offering of some 20,000 shares of
stock will be made Aug. 10 by a syndicate headed by Hay den,
Miller & Co. and Otis & Co.—V. 143, p. 105.
5,000
5,000
...
Treasury stock
with SEC—
of this department.
common
has
insurance
ment
ledger
6,229
Res. for unemploy¬
on
Accts. rec.—officer
840
840
Common to Be
payable
Jan. 2.
2,980
150
1,299
....
Dividend
&c_.
2,595
stock
liability
undistributed profits.
to
Cleveland Ry.—Registers
2,174
—
county—real est
employees,
Railroad claims...
1,087
Federal cap.
rec.—sun¬
dry,
taxes
equivalent
See list given on first page
Federal income tax
Call loan—secured
$936,490
322,160
$2.91
amounted to $1,016,$3.16 per share on the outstanding common stock.
This compares with $1,057,588 and $3.29 per share for the 12 months
ended June 30, 1935—V. 142, p. 4171.
165
Accrued labor
321,920$2.11
For the 12 months ended June 30, 1936 net income
337,
1,268
on
cust.'s ledger—
rec.—per¬
sonal
$25,000
23,870
1,953
Credit balance
$1.12
Before provision for the corporate surtax on
x
'36 Dec. 31,'35
$20,000
47,161
pay—bank
Accts. pay—trade.
secur.
(cost & accr. int.)
Notes
June 30,
Liabilities-
Dec. 31 '35
321,920
_
share
per
$388,573
322,160
$1.21
_
19,488
12,713
w
W
-
-
410,234
300,000
130,679
'
19,582
9,582
48
401,731
300,000
100,662
....$1,659,365 $1,637,671
Represented by 10,000 no par shares.
Aro(e—It is the company's policy to make an appropriation to the reserve
for renewals, replacements and retirements at the end of each year; therefore
this balance sheet does not reflect in such reserve the proportionate part of
such appropriation for the year 1935 applicable to the first six months of
t/hc ycB/i*
0
*
Our usual comparative income statement for the six months ended June 30
was published in V.
143, p. 581.
x
Commercial Banking: Corp.— To Reclassify Stock—•
of the 15-year 5^% convertible sinking fund debentures are
being notified that the company proposes (1) to effect a reclassification of
its shares of capital stock that will become effective not earlier than 20
days from the date hereof (Aug. 4, 1936) and (2) to offer for subscription
and sale certain additional shares of stock and warrants, if and when a
registration statement with respect thereto under the Federal Securities
Act of 1933 shall become effective, to the holders of record of its capital
stock on the date such regstration statement may become effective.—V.
Holders
141, p.3531.
Commercial Investment Trust Corp.—Calls Entire Issue
of Convertible Preference Stock,
The directors at a meeting
Optional Series of 1929—
held July 31 decided to redeem all of the com¬
pany's convertible preference stock, optional series
of 19^9, of which 140,434
shares are outstanding.
Total...
x
After
—
reserves
—V. 141, p.
of
$3,894,311|
$9,980.
y
Total
Represented
by
10.000
no
par
shares.
&c.—
Cohn, a director since 1925 and acting Executive Vice-President
has been elected President of the company, it was announced
since 1932,
on
July 31, William D.
The date
fixed
for the redemption is Oct.
1, 1936 and the redemption
price is $110 per share in cash and an amount equal to accrued and unpaid
Oct. 1, 1936.
The dividend portion of the redemption price will be 3-104ths of a share
of common stock per share of convertible preference stock, or at the option
of the holder, if exercised on or,before Aug. 15, 1936, $1.50 in cash per share.
dividends to
912.
City Stores Co.—New President,
Saul
$3,894,311
Gordon, formerly Vice-President and Treasurer,
At the current market price the dividend,
an indicated value of approximately $2.25 a
if taken in common stock, has
share.
Financial
916
Chronicle
Notwithstanding the call for redemption, the holders of the convertible
preference stock, optional series of 1929, have the right until the redemption
date to convert the stock into common stock of the corporation and to
Community Power & Light Co. (& Subs.)—Earnings$3,777,476
17,623
29,159
$3,861,973
1,912,702
195,689
356,702
$140,687
1,364
$105,975
1,630
$1,396,977
22,810
$1,343,803
15,606
$142,051
25,041
$107,605
22,646
70,882
$1,419,788
69,563
295,622
847,710
$1,359,409
296,242
851,260
$47,446
$14,077
$276,456
$211,006
158,461
18,617
30,729
Maintenance
Options—
has notified the New York Stock Exchange that the fol¬
lowing options for the purchase of shares of common stock of the corporation
were outstanding as of the close of business June 30, 1936:
The company
Taxes
—
Net oper. revenues._
inc.—Net
Non-oper.
Price per Shares
Expiration Dale
150
$20
$26,66 2-3
Dec. 31 1936
Dec. 31 1936
Retirement accruals.-__
6,420
$29,16 2-3
Dec. 31 1937
Int. & amortiz., &c
No. of Shares
150
/
/
$310,890
158,131
$348,495
Operation
Stock
1936—12 Afos.—1935
1936—Month—1935
Per. End. June 30—
Operating revenues
Y shares of such common stock for each share of preference stock.
receive 1
Aug. 81 1936
Balance.
1,904.697
188,248
340,726
—V. 143, p. 750.
Net income
Credit
Commercial
—V. 142, p.
Co,—Earnings—
Consolidated Income Account for Stated Periods
.
Como Mines
6 Mos. End.
6 Mos. End.
6 Mos. End.
June 30 '36
Period—
June 30 '35
June 30 '34
x Year End.
June 30 '34
Gross receiv'Iespurch-$402,459,870 $267119,272 $208172,513 $331,837,781
Gross earnings
$11,294,860
$7,757,444
$6,342,171 $11,528,835
53,835
26,903
Sundry income
29,484
71,754
Discount
I>r23,018
Gross income..-
$7,811,279
--$11,321,763
Operating expenses (ex-,
eluding int. & disc)
4,922,446
Net losses in
excess
The New
of
Dr52,530
$6,348,637 $11,548,059
3,477,571
CY309.556
674,458
623,540
5,213,584
240,552
1,292,128
401,062
$2,379,567
$4,400,732
2,533
2,740
to file a
57,010
114,020
1,030
1,145
1,937
voluntary petition in bankruptcy.—V. 142, p. 123.
Commonwealth Edison Co. (& Subs.)—Earnings—
Period End. June 30— xl936—6 Mos.—xl935
Elec. light & power
xl936—12 Mos.—xl935
rev.-$40,858,265 $39,191,698 $80,199,870 $77,025,203
295,484
282,156
626,767
458,485
Other oper. revs, (net)-Total gross
4,311
57,010
Net inc. credit, tosurp $5,077,769
inc. for min. int.,
2,841,611
83,176
680,919
363,361
$3,345,266
CY553,688
846,890
1,028,345
res
Int. & disc, charges
Res. for Fed. inc. taxes._
Co.—Bankruptcy—
York Curb Exchange has received notice from the company
that the directors of the company have instructed their Nevada attorneys
&
notes
on
debs, retired
4334.
earnings..$41,153,749 $39,473,854 $80,826,638 $77,483,688
6,139,758
12,479,826
12,369,481
12,395,371
26,136,088
24,809,775
1,867,061
3,629,095
3,579,628
3,998,016
7,985,906
8,037,780
5,708,224
13,611,717
10,620,346
purchased6,145,088
Operation
13,241,138
Maintenance..
1,693,098
Provision for deprec n._
3,982,976
Taxes (estimated)
7,315,610
Power
Net
undistributed.
Divs.
Net earns, from utility
oper.,
stocks in hands
on
of
3,151
Com. Edison
(minority).
.''..v
'
■
932
Commercial Credit Co.:
1,599,453
Net surplus
irpl
319,109
138,821
212,137
1,001,552
319,108
138,809
210,907
469,526
644,257
277,985
409,095
469,526
91,894
41,259
13,371
17,036
------
Common.
Furniture and
written off
Total other income
fixtures
Consolidated net earns! 10,073,948 $10,348,248 $19,406,789
on funded debt.
4,227,027
4,428,264
8,477,190
101,987
91,030
188,238
360,847
325,839
•
and expense-..
$5,384,086
end period
1,609,063
Consol. net income.__
Shs. outst. at
$3.35
Earnings per share
'
>d
perioc
surplus balance,
beginning of period.
$2,851,584
...
$1,571,814
'
1936
$2,462,563
$1,166,949
Electric light and power revenue
Other operating revenues
11,734,101
_.
res.
bank
to earned
Earned
7,653,171
3,966,025
5,261,639
returned
Power
26,668
surplus
close of period.
bal.,
..$14,612,353
>,224,986
$6,428,588
$6,428,588
$2.30
—
$1.72
$3.09
Net income per share on
stock
$3.60
Assets—
1936
1935
lien
retail
Motor
lien
32,803,648
35,431,920
53.902,987
28,493,997
40,741,905
29,918,711
24,554,528
7,488,927
wholesale
Indemnity Co. of N. Y
Treasury stocks
Due by employees in pur¬
chase
252,485
541,335
11,600
472,908.
44,411
131,985
55,950
134,513
52,345
128,672
9(f0~978
"
151,172
158,295
2.958,613
253,689
793",930
Receivables
for
354,928
236,517
34l",344
408,329
4
_
5;
5
.
.
4
350,000
300,000
300,000
1,824,960
2,906,694
3,817,910
Credit
Alliance Corp
608,405
$251,266,046 $158235,731 $135115,019 $77,788,994
—
Liabilities—
;
1936
Unsec. short-term notes.153,435,500
Notes payable, secured.
28,513
1935
10-year 5Y% debs.
73,399,900
375,181
2,360,000
drafts sold
2,520,600
252,485
118,530
&
1933
1934
88,743,500
Collateral trust notes pay
Manufacturers
18,138,000
621,410
5,569,000
2,677,000
,
11,600
selling
agents
accts. payable
credit balances
Sundry
incl.
4,697,472
4,682,201#
3,657,540
6,360,084
3,444,759
2,021,587
1,326,740
3,365,827
2,495,813
2,678,604
2,889,920
4,824,602
3,475,615
3,317,398
3,164,090
accts. payable,
all Fed. & other
taxes.
Margin
due customers,
only when receivables
are
collected.
Margin due specific cust.
of Credit Alliance Corp.
only when receivables
are
collected
Dealers'
loss
365,316
357,500
2,553,981
2,407,049
1,897.688
957,286
participating
Res. for possible losses._
Amer Credit Indemnity
913,011
reserves._
Res. for adjust, invest, in
Canadian subsidiary.
149,438
_
Res.for exch.fluctuations
Res. for undeclared cum.
divs.
class A stockRes. for def. inc. & chrgs
Min. ints., subsidiaries..
118,088
on
1,425,250
10,807,527
78,143
5,756,434
74,924
5Y % pref. stocks of subs
4Y% cum. conv. pref .stk 25,000,000
Pref. stock convertible.1st pref. stock
...
Earned surplus
11,319,320
9,224,985
4,028,020
14,612,353
10,053,501
Capital surplus
Total-.—-
232,065
3,114,551
31,794
1,425,250
9,526,150
3,470,525
7,071,250
9,540,520
6,428,589
2,625,084
9,954,600
3,509,350
7,735,500
9,540,520
3,966,025
3,695,356
4,845,845
72,359
19,371,800
-
Pref. class B 8% stock._
CI. A conv. ser. A stockCommon stock
_y13,495,368
y
$3,940,437
608,101
Consolidated net income
43,350
164,474
$2,200,779
____—
of period
$4,563,454
2,213,207
53,823
180,422
———
$4,149,028
$4,548,539
2,113,513
—
$2,142,422
1,606,940
1,609,063
$1.37
Earnings per share.,
$251,266,046 $158235,731
Represented by shares of $10
414,426
$1.33
x The above income
account for the quarter ended June 30, 1935 and
those for the six and 12-month periods ended June 30, 1936 and 1935 shown
on the last page have been restated to include (a) the allocation of
adjust¬
ments
affecting the years 1935 and
1934 and
(b) an adjustment in the
provision for Federal income tax affecting the first quarter of 1936 to provide
for the surtax for that quarter upon estimated undistributed profits for 1936,
as
calculated on the basis of the present rate of dividend disbursement, under
by Congress.
The amount accrued
for the 1936 periods now reported, be subse¬
the Revenue Act of 1936 recently passed
quently materially changed depending upon fluctuating factors during the
remaining six months of 1936.
Note—The income accounts are subject to further change if subsequent
information necessitates revisions.—Y. 143, p. 750.
Connecticut
Ry.
&
Lighting
Co .—Common
Worthless—Stock Exchange Delists Securities—
par
$135115,019 $77,788,994
"
•
"The studies conducted
by the company," said its letter to the Exchange,
operating situation of the traction properties
indicate that if approximately $1,500,000
new capital
were paid into
the company in order to convert existing trolley properties into bus lines
and for other purposes it might be possible, after the payment of a reasonable
return on the additional capital, to realize annually an amount just about
sufficient to meet the sinking fund and bond interest obligations, but it
also appears from the survey that there is no reasonable expectation that,
even with the addition of new capital, it will be possible to
produce annual
income for the company in an amount sufficient to pay any dividends
on
the preferred stock.
Full dividends on the preferred stock amount
to
approximately $407,000 annually.
"In view of this large margin which must be met before any dividends
can be paid upon the common stock, the
company concludes that for all
practical purposes the common stock must be considered as of no value
and, in view of this conclusion, is unwilling to countenance the continued
trading in the common stock on the New York Stock Exchange."
Transactions in the common on the Exchange Aug. 5 totaled only 120
shares, the stock closing at $12, a decline of 50 cents for the aay.
Turnover
of the issue to date this year had aggregated 19,570 shares at prices
ranging
from $10 to $20 a share.—V. 143, p. 581.
"in
connection
with
the
Consolidated Aircraft Corp.
value.—V. 143, p. 750.
Stock
The Governing Committee of the New York Stock Exchange on
Aug. 5
suspended from dealings the common stock of the company, which was
selling, in oaa lots, at approximately $12 a share.
The rule affected the
89,772 shares of the common stock of the company outstanding, but not
its bonds and preferred stock.
The action of the Governors in suspending the common was based
upon
a letter from the company requesting
the withdrawal..of the stock from
listing ana registration.
•
The letter explained that the company, an owner of gas, electric and
street railway properties in
Connecticut, in 1906 leased for 999 years
all its properties to the Consolidated Ry., which was later merged into the
New York New Haven & Hartford RR.
The gas and electric properties
were subsequently sublet to the Connecticut Light & Power Co. and the
traction properties to tne Connecticut Co., a subsidiary of the New Haven.
Income of company from its leases has amounted to
approximately
$1,450,000 annually plus taxes, the letter said, of which $1,050,000 came
from the railroad and $400,000 from the utility company.
This was suf¬
ficient to pay expenses, interest and dividends since 1917 on the company's
preferred and common stocks at 4Y%In 1935 the reorganization of the New Haven under Section 77-B of
-the Bankruptcy Act resulted in the cancellation of its leases with Connecti-;
cut Ry. and suspension of payment of rentals due on and subsequent to
Nov. 1, 1935.
This reduced the company's income to the $400,000 per
annum received from
Connecticut Light & Power, which it is expected
will continue.
reserve
Co.—insur.
—
for such surtax may, however,
of stock
Deferred charges
Furniture and fixtures.
Collateral trust notes
Total
118,530
828,150
of Amer Credit
sec.
—
—————
Shares outstanding at end
liability on
foreign drafts
Sundry accts. & notes rec
Repossessions
in
co.'s
b possession, deprec. val'
Sundry securities
—
Interest on unfunded debt...
25,068,996
70,855,849
Customers'
lnv.
—
Amortization of debt discount & expense
122,170,305
;
& acceptances.
notes
1933
1934
time
sales notes,
from utility operations—Common¬
Consolidated net earnings....
Interest on funded debt
banks$33,575,646 $21,089,945 $16,758,327 $10,817,268
Open
accounts,
notes,
^ acceptances & indust.
lien obligations
49,294,160
earns,
Total other income
Consolidated Balance Sheet June 30
Cash and due from
Net
wealth Edison Co—
Including Textile Banking Co., Inc., for nine months only.
Motor
—
out¬
standing, end of period
x
Total gross earnings
a
_______$19,759,351 $19,032,574
purchased——--—*.———--—.
2,994,045
3,018.783
Operation----———-——-—--—-———6.507,023
6,132,780
Maintenance
839,795
990,454
Provision for depreciation
1,992,602
2,006.893
Taxes (estimated)
3,485,447
2,734,636
—■
surplus
common
xl935
$19,541,055 $18,846,896
218,296
185,677
(net)..-
closed
on
accts.
648,364
$5,503,114 $10,023,949 $10,369,491
1,606,940
1,609,063
1,606,940
$3.42
$6.23
$6.45
Earnings for 3 Months Ended June 30
credit for
Earned
Excess
$20,026,852
8,858,530
150,467
717,411
Amort, of debt discount
H*
•
•
$9,365,421 $16,984,004 $18,066,676
982,826
2,422,785
1,960,175
Interest
Int. on unfunded debt--
530,754
% conv. pref. stk
6^ % & 7% 1st-pref
8% class B pref. ___■
6 % class A convert.
1
$8,775,835
1,298,112
Co
public:
Comm Credit Tr., pref
Textile Bank. Co., Inc.
(& Subs.)—Earnings—
3 Mos. End. 3 Mos. End.
Commercial
Investment
Registers with SEC—
See list given on
first
page
Corp.,
./"
Davenport,
/
of this department
Iowa—
Period—
Net
income
June 30 '36
after
provision
for
depreciation
Federal & other taxes
.
Earnings
per
sh.
on
574,400 shs. (par $1)
1
Mar. 31 '36
&
$184,950
$0.32
$3,730
$0.01
Volume
Financial
143
C*Delivery of approximately 80% of
Chronicle
month
the completion of additional plant facilities,
with
and
Consolidated Cement
Coal Co. and Kedzie Coal Co.
,
Corp.—Earnings—
-
,
Earnings for 6 Months Ended June 30,1936
,Net sales
-
Gross
profit
on
<
.
sales
$234,977,
140,838
25,393
16,654
—-
Selling, general & administrative expenses._
Mill overhead applicable to non-operating periods—_
Expenses of Mildred, Kan., plant which is not in operation..
Corp., Galewood
=
Shore Material Co and Evanston Coal & Ice Co. filed
similar petitions.
On Marcn 28,
1935, an order was entered by the court appointing George
F. Harding and Martin H.
Kennelly, as permanent trustees.
On Nov. 20,
1935, the trustees filed with the Court a plan of reorganization but the
plan in its entirety did not meet with the approval of some of the holders
$587,444
352,467
-—...
Cost of goods sold....,*
Fuel
Company and subsidiaries are engaged in the business of producing and
selling building materials, coal and ice in and about the City of Chicago,
and own extensive
plants, facilities and equipment which are maintained
and operated in
Chicago and adjacent territory.
On June 19, 1934, a
petition was filed by company in the U. S. District
Court for the Northern District of
Illinois, Eastern Division, for the reorgan¬
ization under Section 77-B
of?the Bankruptcy Act.
Thereafter, on July 9,
1934, Wisconsin Lime & Cement Co., Central Lime <fc Cement Co., North
1,000 more
trained mechanics will be required.—V. 143, p. 425.
917
Material Co., Evanston Coal & Ice
Co., Shippers
order for 50 pursuit planes and
parts to the United States Army was largely responsible for second quarter
earnings.
The balance of this order was delivered in July.
The company
has approximately $13,000,000 of unfilled orders on its books.
The com¬
pany has at present 2,269 employees with a payroll of about $285,000 per
an
of securities
whose consents were necessary.
As a result of conferences
negotiations certain modifications have been made in the
plan filed
Nov. 20, 1935 and the trustees'
plan thus modified and now
and
designated
"substitute plan of reorganization" is as follows:
Net profit from operations.
$52,091
7,420
Other income
Interest
Net profit before interest & other deductions..
Interest on 15-year 1st mtge. 6% cumul.-income bonds
Interest
$59,511
54,169
6,188
5,396
4,781
15-year 6% cumulative-income notes.—
on
Bond
discount & expense.....
.........
......—
Loss on retire, of fixed assets, oper. of dwellings, &c—
Net
loss..
Principal
$67,198.
for the six months ended June 30,1936, available for interest
6% cumulative-income bonds and notes, computed according to the
requirements of the bond indenture, amount to $128,685.
Interest due
on bonds and notes at Aug. 1, 1936, amounts to $60,370.—V. 142,
p. 1979.
were
First mortgage
Operation.
.........
Provision for
......$2,366,003
1,098,108
i-.--
...
Maintenance——
430,814
...................
depreciation.
99,808
State, local, &c., taxes
328,731
25,526
Federal income taxes.
Net earnings from operations
$1,993,309
1,134,939
397,484
86,647
14 ,580
19,747
$204,912
70,321
45,044
$428,060
13,290
Net inc. avail, to Consolidated Coach
Corp
,
$275,233
4,847
$414,770
130,556
Net income
Consolidated Balance Sheet Deg. 31
1935
Assets—
1934
Liabilities—
.
Prepaid
accts,
deterred
Cash,
Deferred liabilities
&
47,675
incl.
182,254
76,343
163,672
47,616
work¬
ing funds
x
18,444
charges
Accts.& notes rec.
196,968
Materials & suppl-
45,013
1934
1935
$336,600
617,400
Due to affll. cos
$336,600
238,456
1,749,505
1,128,496
23,968
11,082
New Securities to Be Issued
First mortgage bonds
Unsecured notes..
Preferred stock (par $50)
common
Clas3 B
common
„
stock (par $50)
stock (ho par).
Preferred stock,
class A
4,310,049
l,924,588
——y59,080 shs.
-
common
new
$3,662,031
94,076
„
....
stock and
class
B common stock will
be placed in a stock trust, and there will be issued thereunder
participation
shares:
It is further proposed that the reorganized
company will acquire all of
the properties, assets, claims, choses in action, business and
good-will of
the Consumers Co. and its subsidiaries which shall be carried in the
account¬
ing records of the reorganized company at values based upon an appraisal
made as of May 1, 1935, and that the new first
mortgage bonds will be
secured by a first mortgage which will be a, first lien upon all of the
land,
buildings,
machinery and equipment of the reorganized companv except
with the exception of $127,583 sundry mort¬
all of the trust deeds and mortgages securing the present
outstanding
mortgage indebtedness will be released and all of the obligations secured
by the the trust deeds and mortgages will be cancelled and all right to enforce
the same will be enjoined by a decree to be entered in this
proceeding.
All
capital stock of subsidiaries held as security for any indebtedness will also
as
otherwise provided; that,
gages,
1,777,056
18,000
196,695
x207,275
159,788
109,000
It is proposed that a new corporation be formed in Delaware
and
securities will be issued as follows:
obligations
ma¬
turing within 12
months..
921,221
—
617,400
195,301
Notes payable
Purchase - contract
245,160
1,461,650
168,737
183,756
120,082
Capital Slock—
6% prior preferred at $100
6,998,500
6,998,500
7% preferred at $100
3,681.536
3,681,536
Common at $5
4,715,355
4,715,355
x Interest Oct.
1, 1932 to Dec. 31. 1933, $69,092; interest Jan. 1. 1934
to June 30, 1936, $138,183.
$140,523
Equip., permits,&c$4,583,460 $4,394,645 7% cum. pref. stk.
Invest. & advances
26,548
25,566 y Common stock
190,650
20,037
Globe Coal Co. notes
$270,386
129,863
$284,214
Int. deductions of Consolidated Coach Corp.,
29,160
1,271,000
148,700
6% Consumers Co. notes
Unsecured Debts—
Bearer notes...
Class A
Total net earnings.................
General int. deductions of subsidiary companies..
934,490
144,562
.
-
1934
$383,015
Otherincome
$3,960,945
152,490
16,979
-
Earnings—
1935
Total
$516,645
216,000
General 6s (111. Lime & Cement Co.)
North Shore Material Co. 1st mtge..
Central Lime & Cement Co.:
Net earnings
(& Subs.)
June 30 '36
Consumers Co. 1st mtge
$3,44^,300
6% gold notes.
782,000
Sundry real estate purch. obligat'ns
127,583
Wisconsin Lime & Cement Co.:
on
Consolidated Coach Corp.
Accrued to
Amount
Secured Debts—♦
$11,023
Notes—Charges to profit and loss account and to costs of cement pro¬
duced for the six months ended June 30,1936, for depreciation and depletion
Calendar Years—
Gross earnings.....
as
Outstanding Securities of the Debtor Corporations
be released and returned to the treasury of the reorganized
company.
141,859
It is
tract obligations
also contempiated,that the reorganized company may continue the
corporate
existence of the present subsidiaries of the Consumers Co. for
secured
purposes
Other
purch.
con¬
by liens
permits
on
2,552
Accounts payable.
113,658
70,118
34,720
Federal inc. taxes.
35,687
19,246
Accrued interest..
16,775
TABLE OF EXCHANGE OF NEW FOR OLD SECURITIES
110,474
taxes, State,
local, &c
operating
only.
7,009
80,541
Acer,
Unred. tickets
Will Receive
65,401
4,143
Misc. curr. liab...
Res. for deprec
Existing Securities—
1,053,313
614,976
330,762
x
$5,081,919 $4,726,288
After
1934.
Total
$5,081,919 $4,726,288
......
real
Stock
y
Class B
Stock
Shares
2,066,580 1,377,720
.
350
;
152,490
estate
Stock
$
273,700
Each $1,000
Sundry
—
Class A
$
„
516,645
782,000
Accrued interest
for uncollectible items of $8,959 in 1935 and
$11,995 in
y Represented by 6,174 no par shares.—Y. 141, p. 1930.
$
Preferred
Bonds
600
Accrued interest
reserve
Mtge.
Cash
.3,444,300
6% gold notes
•
Total.
Is*
$
First mortgageEach $1,000
1,453
1,022,503
Surplus..
Out-
standing
i
8 shs.
516,645
508,300
13 shs.
152,490
pur¬
chase obligations
al44,563
Not atfected by plan.
Wis. Lime & Cement Co.:
Cbnsolidated Edison Co. of N. Y., Inc,—Held
First mortgage
Exempt
Each $1,000
from Public Utility Holding Company Act—
Accrued
Federal Judge Francis G. Caffey on July 31 granted injunctions restrain¬
1,271,000
First mortgage
Each $1,000.
1936
v
—.
-
MaintenanceTaxes (other than Federal income tax)
—
$323,031
67,940
—V.
15,636
43,975
.
——
74,350
500
10 shs.
b472,126
d55,926
483,640
10)4 shs.
172,730
103,862
350
13 shs.
20,037
921,221
Each $1,000
475
Interest
cl72,730
159,788
Bearer notes.
......
Each $1,000.......
Accrued
Interest
23,968
109,000
Each $1,000...™.
"
Accrued Interest
11,082
6% prior pref. stock
.6,998,500
d38,150
23,968
70,850
350
Globe Coal Co. notes...
13 shs.
.
Utica, N. Y.—Earnings—
.
74,350
20,037
6 % ConsumersCo .notes
a dividend of 60 cents
per share on account
the $1.75 cumulative preferred stock, payable
Aug. 15
to holders of record Aug. 5.
This will be the first payment made since
amount to
1
11,082
1,924,587
5^ shs
Each 10 shares
3,681,535
7% preferred stock
.Each 10 shares
1935
$322,475
73,626
603,725
9% shs.
190,650
Cent. Lime & Cement Co
on
-
525
148,700
interest...
Accrued
The directors have declared
6 Months Ended June 30
667,275
190,650
North Shore Mat'l Co.:
Accrued
Operating revenue—Water
Operation
......
-■
Accrued interest...
Corp.—-To Pay 60-Cent Pref. Div.—
Consolidated Water Co. of
500
29,160
Each $1,000
.
ground that the plaintiffs are exempt from
the operation of the Act and that the constitutionality questioned is an
abstract one as far as they are concerned.—V. 143, p. 751.
January, 1931.
Accumulations after the current payment will
$7.27H Per share.—V. 142, p. 1813. ;
•
b
108,000
500
29,160
General 6s
statute unconstitutional on the
of accumulations
V
interest
111. Lime & Cement Co.:
ing the enforcement of the provision of the Public Utility Holding Company
Act of 1935 against Consolidated Edison Co. of New York, Inc., New
York Edison, Inc., Brooklyn Edison, Inc., Central Union Gas Co., New
Amsterdam Gas Co., their officers and directors, and against Cities Service
Co. and the Federal Light & Traction Co., holding that they are
engaged
exclusively in intrastate, not interstate commerce.
Judge Caffey denied a motion for a declaratory judgment decreeing the
Consolidated Steel
216,000 108,000
1,715,355
Common..
Each
■
a
-12,534
38,019
.
17,496
2H
27,612
7M
13,971
67)^ shares
1
Includes $16,979 Interest accrued to June
b Includes one-half of
30, 1936.
unpaid interest ($34,545) due from Oct. 1, 1932 to Jan. 1.
1934.
Net oper. rev.
Other income
before
(net)
prov.
for depreciation
—
....
$195,480
1,645
$198,294
1,309
.
c
Being balance of unpaid interest (after deducting $34,545
Total
income
$197,125
34,805
Provision for depreciation
$199,603
35,991
$162,319
129,287
—
$163,611
129,375
as
shown in (bl).
d The holders of these unsecured notes will be entitled to receive
amount thereof in new unsecured notes
and bearing Interest at 4%
amount thereof In
I maturing 10
per annum payable
35% of the face
years after the date of issuance
semi-annually and 65% of the face
preferred participation shares
on
the basis of one share for each
$50
Gross corporate income
Interest
on
funded debt.
Interest on unfunded debt
240
Amortization of debt discount & expense.
Amortization of deferred charges
Provision for Federal income tax (est.)..,
Net income available for dividends &
-V.
—
surplus.
139, p. 112.
Consumers
_
139
8,745
14,985
2,645
11,454
$6,416
thereof, plus a number of such preferred participation shares ascertained by
dividing by 50 the amount (in dollars) of interest accrued to June 30, 1936,
Stock Trust—All of the shares of preferred stock, class A common stock
common stock shall be issued to five trustees who shall hole
a period of four, years.
The trustees subject to the approval
and class B
the same for
be George F. Harding, Martin H. Kennelly, Joseph Hock,
John J. O'Laughlin and William J. Lynch.—V. 143, p. 107.
of Court, shall
"
1,666
$20,975
Continental Can Co., Inc.—Acquisiton
The Continental
Co.—Substitute Plan of
Reorganization—
A substitute
plan of reorganization for company and subsidiaries dated
15, 1936, prepared under the direction of the permanent
trustees,
recently presented to the court with the consent of the directors of the
company.
The plan represents the combined suggestions and conclusions
of representatives of the principal holders of every class of
securitv—bonds,
June
was
by Subsidiary—-
Co. (of Pennsylvania^, a
subsidiary, will acquire
manufacturing business of Wilkes-Barre Can Co.,
Wilkes-Barre, Pa., as of Aug. 9, 1936.
The property acquired includes a three-story can
manufacturing plant of
approximately 104,000 square feet, according to the report.
The purchase
price payable in cash is reported at $450,000 plus an amount equal to the
the
assets
value
and
Can
can
of the inventories.
take place on Aug.
The
consummation
of the deal
is
expected
to
14.—V. 143, p. 582.
notes and stocks—of the company
and its subsidiaries.
A hearing on the
substitute plan of reorganization, will be held Aug. 11, before
Judge Wilk^rson in the U.S. District Court at Chicago.
Company
organized
in
Illinois,
the
following subsidiaries: Wis¬
consin Lime & Cement Co1t, Central Lime & Cement Co., North Shore
owns
Costal
Minerals Development, Inc.—Withdraws
Regis¬
trationSee list given on first page
of this department.—Y. 142,
p.
2663.
Financial
918
Electric--—
Gross earnings;
Total--
—
— --
Amount charged to construction
Provision for uncollectible accounts--.—
—---——-,
.
-
-
—
_
— - - -
—
-
-
Provision for retirement reserve
12,005
221,056
Taxes
Notes receivable..
237,822
14,498
X16.988
Miscell.
Acc'ts receivable—
238,123
254,097
receiv—
632
485
85,685
73,127
24,237
27,747
Consumers'
Prepayments
<
Continental Gas & Electric Corp.'
•
.
.
„
30
.
-
146
interest.
101,252
5,224
_
7,810
16,496
1,583,703
dep's
619
219,811
1,068,980
profitPref. stk. (sub.co.)
1.092,520
60,610
60,610
343,585
497,438
-.---...-10.804,833
10,734,637
Common
267,731
99,530
'
-
12,873
219,810
liabilities
Deferred
stock
Deficit
3,441
84.518
67,028
1,598,959
liabilities.
""309
Total
#
months ended June
comparative income statement for the 6
published in V. 143, p. 582.
usual
was
102
106,008
-
refundable
257,577
Seal Co«» Inc.—-Regular Div. Doubled—
Crown Cork &
(& Subs.)—Earnings
1936
1935
_
Unrealized
2,797
Includes w^irrftiits
Our
$8,259,815
—
-
_
_
Interest on bonds.
...10,804,833 10,734,637
Total
Or 122,345
—
— — -
84,903
coup's
Miscell.
~6l509
...
.
deps
Unred'med
75
Leasehold impts—
—V. 142, p. 4172.
a dividend of 50 cents per share on the
payable Sept. 8 to holders of record Aug. 21.
with 25 cents per share distributed each three months from
Sept. 6, 1934 to and inch June 6, 1936.
In addition an extra dividend of
50 cents per share was paid on Dec, 6, 1935.—V. 143, p. 268.
The
eliminating inter-company transfers)
.$34,024,828 $31,560,608
General operating expenses..—
.
13,493,523 12,564,894
Maintenance..
1,606,204
l,526,9o6
Provision for retirement..
—.---4,367,031
4,218,269
Gen. tax. & est. normal Federal income tax.
3,521,772
3,411,193
have declared
directors
common
earnings of sub. cos. (after
Gross operating
—
count & expense
Suspense
x
12 Months Ended June 30—
-
Cash in closed bk.
.00*^99
t---
—
— -
construction—
_
_
Service & ins. dep.
366,796
and expense.
Amortization of debt discount, premium
Net income.
-
.
Misc. eurr. assets.
—
120,866
Reserves
int.
Mat'ls & supplies
^-204,606
Net earnings
on funded debt
Interest charged to
9,693
Consumers'
TJnamort. debt dis¬
Interest
Miscellaneous interest..
—
Acer.
8,597,265
1,696,560
2,046,258
563,966
3,000,000
Other operation expense.----- —
Maintenance and repairs
Federal income tax.
5,794
Cash
144,453
.
General taxes.
9,845,989
6,931
Investments
.$31,834,548
2,418,770
304,834
CV142J66
.
General and miscellaneous expense—
.'Service contract fees., —^
debt—
payable
Accounts
9,926,119
equipment.—
7,894,300
78,615
7,795,200
Long-term
&
property
Plant,
'3
$
$
Liabilities-
$
Assets—
Special deposits
-
— —
—
— — — -
_- - —
June 30 '36 Dec. 31
June 30 '36 Dec. 31 '35
.$24,495,989
6,804,934
378,211
95,412
— — - — - -- ----
.
Heating and water.
Non-operating revenues
Consolidated
Co.—Condensed
Service
Balance Sheet—
Ended June 30, 1936
Earnings for 12 Months
Public
Crescent
Co.—Earnings
Power
Consumers
Aug, 8, 1936
Chronicle
stock, no par value,
This compares
-
N et earns. from
$11,036,296
852,795
804, J. 93
$11,889,091 $10,643,488
operations of s ub. cos
Non-operating income of sub. cos
Interest, amor tization& preferred di vs. of sub. cos.;
Interest on bonds, notes, &CAmortization of bond discount & pref. stock exp_
3,858,057
.
Dividends
of
Proportion
preferred stocks
on
-----
Total income
ore
to. minority
Equity of Continental Gas & Electric Corp. in
earnings of subsidiary companies
__
Corp. (exclusive
of income received from subsidiaries)
—----
8,763
,,
x
-
—"-
-
Expenses of Continental Gas &
Balance
:
-
-
-
-
45,681
—
—
Holding company deductions:
Interest on 5% debentures, due 1958--Amortization of debenture discount & expense.
$5,184,084
60,000
60,000
$1,262,512
$456,821
$7 1 2,034
$0.86
Nil
164,172
$3,801,690
1,320,053
$1,099,859
$11.57
$5.13
Cash-.!
Notes
—
&
Funded
Accts.
Dividends
on
consolidated surplus.
accts,
prior preference stock
4
Balance
Earnings per share
—V. 143, P. 107.
a
Cooper-Bessemer Corp.—Earnings—
Operating profit before depreciation—_—
Other income (net)
:
—
Provision for
depreciation
Net
profit._
-— _ — __.__.----Earnings per share on 198,440 common shares
1,790,630
$0.27
first six months of 1935 and 1936 are given below:
1935
20,583
Post
$155,247
$0.15
—
$3,773,297
stk. out¬
1,790,466
1,790,630
$0.60
$0.42
x No provision has been made for tax on undistributed earnings.
The average net paid circulations (approximate) of the magazines for the
101,922
______
______
common
1936—6 Mos.—1935
$1,994,448 x$4,107,871
standing (no par)
1,790,466
Earnings per share$0.45
$277,753
— —
Provision for normal Federal income taxes
profit after deprec.
x$2,320,664
Shares
37,939
—
_
_
Co .—Earnings—
and Federal taxes,
$239,814
_
Total income
Net
109,871,547 108,910,237
Total-
1936—3 Mos.—1935
Period End. June 30—
$479,235
239,421
799,388
4,166,190
19,102,153
•
b Includes 38,400 shares of common stock of Crucible
value; and 11,200 shares of preferred, at market value."
Curtis Publishing
Earnings for the Period from Jan. 1 to June 30,1936
Manufacturing profit before depreciation_
Selling & administrative expenses
1,000,000
432,926
4,166,190
2,541,895 Approp. surplus.
12,934,149 Prof. & loss sur. 21,308,851
449,424
109,871,547 108,910,2371
After reserves,
Steel Co., at market
—V. 142, p.3505.
2,342,506
accr.
Res. fire Ins.,&c.
..._
Total
4
7,750,000
debt
&
$
5,213,580
stock.
Notes payable..
«>
3,783,076
13,377,794
Deferred charges
285,463
Inventories
'
25,000,000
45,000,000
12,500,000
25,000,000
45,000,000
payable...
2,274,819
2,784,545
b2,661,553
1,183,742
—_
1935
-
Liabilities—■'
Common
87,925,405
1
trade mks.,&c
$2,419,912
1,320,053
$2,481,637
.
Preferred stock-
plant, eq., &c. 88,579,918
Goodwill, pats.,
2,600,000
164,172
2,600,000
1936
S
•
estate,
receivable
Balance transferred to
x$l,024,772?
Nil
Nil
1935
1936
Real
a
Investments.
_
120,000
30,000
35,000
$5,339,271
155,187
$6,565,862
Electric Corp
$453,030
936,700
421,102
Consolidated Balance Sheet June 30
$6,721,550
155,687
— - -—
$2,944,354
1,830,520
341,799
Loss
Assets—•
------
$2,503,344
1,605,528
334,962
46,033
243,090
140,594
mines---
Income of Continental Gas & Elec.
Total income.—_
$425,592
27,438
$3,648,692
1,972,496
— -
— -
Net profit
Earns, per sh. on coin—
$5,304,271
$6,675,868
$2,916,498
27,857
Fed. income & profits tax
Ix>ss from non-oper. of
298,269
14,388
1934
38,921
Interest & discount
1,070,219
-
1935
$2,464,423
36,072
'
:
Depreciation, &c
3,961,965
271,892
1,068,883
— —
attributable
earns.,
commonstock
Otherincome
^
1933
1936
$3,612,620
Operating profit
$9,839,294
Total income of sub. cos
Crucible Steel Co* of America (& Subs.)—Earnings—6 Mos. End. June 30—
—
—
Journal.
____
—
—
—
Gentleman
profit of $155,247 (including $15,000 from the sale of bonds)
compared with a net loss of $7,798 for the first half of 1935.
A decrease
in the provision for depreciation since 1929, in accordance with a ruling
of the Bureau of Internal Revenue, necessitated adjustments which in¬
creased the capital surplus, earned surplus and profit for the period.
Net biLlings were $2,219,112 compared with $1,076,783 for the same
period last year.
Unfilled orders on June 30 were $1,623,734 compared
with $318,616 on June 30 last year.
The net
-
-------
Preferred Dividend—
Increase
160,616
195,542
62,359
'
have declared
The directors
"
1936
2,972,026
2,786,219
1,534,812
2,811,410
2,590,677
1,472,453
a
dividend of $1.75 per share on account
7% cum. pref. stock, par $100, payable Oct. I to
holders of record Aug. 31.
A similar distribution was made in each of the
eight preceding quarters and compares with $1.25 per share paid on July 2,
1934, 75 cents per share on April 2, 1934, and 50 cents per share on Jan.
23, 1934. ■
'
"
Accruals on the pref. stock after the current dividend will amount to $8
per share.—V. 142, p. 2992.
of accumulations
Balance Sheet June 30, 1936
on
the
.
Liabilities—
Asset?—
8225,126
Cash-.
Notes
&
(less
receivable
accounts
reserves)..
1,282,525
____
Inventories
3,157,650
real
Invest.,
est.,
Plant & equip,
Deferred
221,915
(deprec. val.)
„
Capital
14,118
—
—-v-i-
Earnied surplus & proflt____
$7,260,257
Total.
Cushman's
Dr304,567
Gross operating income
Darling Stores Corp .—Registers with SEC—
expenses
------
Provision for Federal normal income taxes
See list given on
Delaware
x5,935
Balance, Dec. 31,1935--
T?tal
$138,081
Dividends
20,625
No
—
provisions made for surtax
on
undistributed profits.
Consolidated Balance Sheet June 30, 1936
Assets—
$438,642
Investments
25,094
Notes & acceptances receiv'le.
Other assets
expenses,
2,918,964
(prepaid interest,
<fcc.)
Furniture & fixtures
Notes payable..
Div. payable, July 10, 1936.
Reserve..___
Reserve for taxes.
8,517
1
Deferred
General
Surplus...
$3,391,219
Total
_____
Represented by 55,000 shares common B stock,
780.
.
11153
155171
"""II
15 000
11111 Ixl, 100 *000
117,456
-$3,391,219
.
x
p.
582*125
~~I"II
no par value.—V.
.
V:
*
Extend Bonds—
refunding mtge. gold bonds, series C
5%,due Aug. 1, 1962 have been called for redemption on Oct. 1 at 107>6
and interest.
Payment will be made at the Bankers Trust Co., New York
City.—V. 143, p. 583.
All of the outstanding general and
Corp.—Registers with SEC—
Another step in the gradual expansion
' 10*312
income..
reserve
Capital stock.
Total
$1 400 000
_
RR. & Bridge Co.—To
company
Detroit Steel
Liabilities—
Cash.-
River
"~~
of this department.—V. 143, p. 583.
Detroit Edison Co.—Bonds Called—
$117,456
—
page
has applied to the Interstate Commerce Commission
authority to extend the maturity date on $1,005,000 of 1st mtge. bonds
from Aug. 1, 1936, to Aug, 1, 1946, with the interest rate reduced from
4% to 3H%.
The Pennsylvania RR., which leases the road, has agreed
to purchase the bonds on presentation for payment by holders on con¬
dition that they be extended for 10 years and the interest rate cut.—
V. 63, p. 1159.
i
The
$35,649
102,431
_____
first
for
'
Net operating income.
of this department.
Dairyland, Inc.—Registers with SEC—
$120,847
79,262
"
x
Inc.—873^-Cent Preferred Dividend—
See list given on first page
(& Subs.)—Earnings—
Balance, June30,1936---
Sons,
$7,260,257
—
Consolidated Income Account for the Six Months Ended June 30,1936
Operating
undistributed income.
-
a dividend of 87K cents per share on the 7 %
payable Sept. 1 to holders of record
Aug. 15.
A like payment was made on June 1 last and prior to then,
regular quarterly dividends of $1.75 per share were distributed.—V. 142,
p. 3505;
(16,598
142, p. 4173.
Credit Utility Banking Co.
Before provision for possible Federal surtax on
cumulative preferred stock, par $100,
Note—No provision has been made for surtax on undistributed profit.—
-V.
x$821,820 Ioss$331,608
The directors have declared
920,263
191,399
surplus
Treasury pref. stock
shares at cost)
"
.
Total—!-..
x
loss$97,472
x$553,341
—V. 142, p. 3847.
17,177
5.000,000
595,320
Common stock.
1
i
37,283
1936—6 Mos.-—1935
1936—3 Mos.—1935
Period End. June 30—
Net profit after deprec.,
interest & taxes-.-..
unearned
.$3 cumul. series A pref. stock
Deferred unexpired insurance
premiums,
income,
Curtiss-Wright Corp. (& Subs.)—Earnings—
58,270
interest, rentals, <fcc
2,358,919
Patents & patent rights..
,
■
$425,000
320,110
insurance..
Reserve for contingencies,..
mtges.,
assets.
■■'4.
ployment
plant not used in dper. &
mlscell.
;
Notes payable to banks..
Accts. pay., unpd. payroll,&c
Accrued taxes. Federal unem-
142
'
of the corporation was announced
Aug. 3 in the acquisition of all of the outstanding capital stock of the
Craine-Schrage Steel Co. of Detroit, in exchange for 75,000 shares of Detroit
Steel Corp. ($5 par) common stock.
Practically all of the Craine-Schrage Steel Co.'s outstanding capital
stock, amounting to 13,043 shares, has been held by three of the principal
executives of the company, namely, Clyde
and W. C. Schrage.
These men were the
P. Craine, Arthur A. Schrage
principal organizers of Craine-
Schrage Steel Co., which now becomes a wholly-owned subsidiary of De¬
troit Steel Corp.
W. C. Schrage is President of Detroit Steel Corp. and
C. P. Craine and Arthur A. Schrage are Vice-Presidents, and Secretary and
General Manager, respectively, of Detroit Steel.
Volume
Detroit
143
Financial
Chronicle
919
Steel
Corp. is at present capitalized at 206,250 ($5 par) shares
including the 75,000 shares issued in connection with the
outstanding,
acquisition of the stock of Craine-Schrage Steel Co.—V. 143;
p. 753.
See list given on first
page of this department.—V. 143, p. 753;
Detroit
Steel
Products
Co.—Admitted
to
.
Listing and
Easy Washing Machine Corp.
6 Mos. End. June 30—
Gross profit after cost of
sales, &c
Other income
The New York Curb Exchange has admitted the
non-par value stock to
753.
p.
x
Selling, admin.
eral
1934
1933
,
$987,232
37,283
$698,445
63,683
$639,426
35,798
$397,038
25,055
$762,128
$675,223
$422,093
634,873
54,885
625,168
670,929
462,815
$334,756
1,330,473
$117,010
1,314,902
-"^154,295
1,333,149
loss$61,977
1,279,649
$1,665,229
$1,431,912
129,584
$1,337,444
$1,217,672
& gen¬
expenses....
Other
-Earnings-
1935
$1,024,515
Registration—
listing and registration.—V. 143,
1936
charges
19,950
21,255
Dixie Gulf Gas Co.—Bonds Called—
A total of $690,000 1st
mtge. 6H% sink, fund gold bonds series A, due
Sept. 1, 1937 have been called for redemption on Sept. 1 at 101 and interest.
Payment will be made at the Manufacturers Trust Co., N. Y. City.—
V.
142, p. 781.
'
'
.
.
Dividend Shares,
Divs.
common stock-
$523,765
131,285
81,988
46,387
$255,655
$477,378
$1,406,053
sec.
prof. & losses
Includes net cash proceeds from sale of $1,173 shares of Mission Corp.
common stock received as a distribution on Standard Oil Co.
(N. J.) capital
stock of $11,797 and net cash proceeds from sale of
x
regular stock dividend
certificate of incorporation of $5,810.
y Includes net cash
sales, of regular stock dividends and rights, included per
included
per
proceeds
from
certificate of incorporation of $15,158.
Statement of Distribution Account for the 6 Months Ended June 30, 1936—
Net income annexed, $286,327; balance of distribution account at
Dec.,
31, 1935, $216,458; total, $502,785; amounts included in price received on
subscriptions to shares of capital stock to equalize the per share amount
available for distribution
then outstanding shares, $13,435; less, amounts
on
included in price paid for shares of capital stock surrendered for purchase
at liquidating value equal to the per share portion of distribution account
at time of purchase, $30; balance
(per resolution of the Board of Directors,
dividends declared are first charged against net credit, if any, of this
balance, thus returning to the stockholders part of paid-in surplus), $13,404;
total surplus,
$516,190; deduct, dividends declared on capital stock,
$737,332; Less, amount thereof charged to surplus arising from sales of
investments, annexed, $406,812; balance available for dividend distribution
for quarter ending July 15, 1936, $185,671.
$1,302,328
$1,337,444
$1,217,672
1936, $3,228 in 1935, $2,863 in 1934
depreciation of $4,986 in
$4,891 in 1933.
and
Balance Sheet June 30
Assets—-
Net income, excl.
259,176
Incl.
x
1934
1935
x$337,643
$286,327
—
on
Surplus.
1936
y$417,613
_
surplus.ilIII I
Balance, June 30
Inc.—Earnings—
6 Months Ended June 30—
Income—Cash dividends
Expenses
_____
:
.
Previous
1936
Cash....
U. S.
1935
$236,621
Liabilities—
Accts
$432,231
Govt., State
& munic. bonds.
Notes & accts.
rec.
Inventories
Secur's
1,034,405
1,086,406
z358,409
y438,554
1,224,329
1,009,364
deposited
•with N.Y. State
Indus.
Comm..
Land, bldgs.,
27,810
27,810
1,359,783
liabil's.
$315,446
Dividends payable
Reserves
for
129,584
con¬
tingencies
90,479
x Common stock..
2,456,808
Capital surplus...
500,000
86,479
2,456,808
500,000
1,292,362
515,094
29,645
1935
$415,540
1,324,909
512,444
11936
payable and
accrued
21,057
5,399
Earned
surplus.._
1,406,053
ma¬
chinery & equip.
Goodwill,
pats.
trademarks
&
;
Prepaid taxes and
unexpired insur.
Miscell. def. chgs.
Total
5,291
...$4,868,880 $4,780,680!
Total...
^$4,868,880 $4,780,680
Represented by class A authorized, 60,000 shares; issued and outstand¬
shares; class B authorized, 690,000 shares; issued and outstand¬
ing, 461,374 shares,
y After reserve for doubtful accounts of $28,045.
z Accounts
receivable only.—Y. 142, p. 4175.
—
x
ing, 57,240
Balance Sheet June 30
1936
Assets
1935
S
1936
Liabilities—
$
Inv.—Com.,
stks.. 16,229,725 12,161,856
Cash in banks
3,403,308
2,373,413
Cash divs. reeeiv..
70,155
71,160
Amt. due
Pay.
not
yet received
expenses
to cap.
206,813
stock
Deferred charges._
40,170
7,328
10,055
Por
S
pur.
250,428
81,663
Accts. pay. & accr.
subsc.
on
Pay.
for cap. stk.
Operating Subsidiaries of—
15,705
76,588
30,887
151,893
3,474,724
...
tax
Capital stock
Capital surplus
4 213,638
13 336,202
1 956,843
Earned surplus
19,920,056 14,653.926
Total
9,557,601
1,341,453
19,920,056 14,653,926
—V. 142, p. 2496.
G.
H.
Duggan
114,631,000
51,130,000
72,068,000
,
July 21 resigned as President and Managing Director
President of the Dominion Engineering Works, Ltd.,'
a subsidiary.
W. F. Angus will succeed Mr. Duggan to both of the above
positions.—V. 142, p. 458.
on
.
19.0
3,951,000
5.8
1936
March
-
April......
June.'—
Co., Ltd,—President Resigns-—
_
15,348,000
8,158,000
15.5
Edison Brothers Stores, I nc,—Sales—
Month of—
January.
February..
May........................................
Dominion Bridge
Increase.
Amount
%
1935
99,283,000
42,972,000
68,117,000
—V. 143, p. 754.
83,198
liquidation..
stock tax, &c.._
Prov. for Fed. Inc.
1936
American Power & Light Co..
Electric Power & Light Corp.
National Power & Light Co..
for
Prov. for Fed. cap.
Total....
Inc.—Weekly Input—
the week ended
July 30, 1936, the kilowatt-hour system input of the
operating companies which are subsidiaries of American Power &
Light
Co., Electric Power & Light Corp., and National Power &
Light Co., as
compared with the corresponding week during 1935, was as follows:
3,159
....
surrendered
Ebasco Services
1935
$
for sec.
1935
.
$874,140
1,051,674
1,603,565
2,124,966
1,968,054
$733,092
867,050
1,368,964
1,829,871
1,485,785
.
1,725,817
1,211.919
July.______
—V. 143, p. 754.
1,409,817
991,867
,
of this company and
Dominion
Engineering Works, Ltd.—New President—
See Dominion Bridge Co.
.
above.—V. 141,
Eastern Rolling Mill
1093.
p.
'
Co.—Earnings—
-3 Months
Period End. June 30—
Profit..
for deprec'n..
Provision
1936
1934
loss$88,568
22,728
22,959
Elmira
12 Mos.
1935
$10,331
...—
_
!
Electrolux Corp.—Extra Dividend—
The directors have declared an extra dividend of 10 cents
per share in
to the regular quarterly dividend of 40 cents
per share on the
common stock, both payable
Sept. 15 to holders of record Aug. 15.
Like
payments were made on June 15, last.—V. 142, p. 4338.
addition
1936
$25,952
,.47,051
$58,654
90,464
Light, Heat & Power Corp.
12 Months Ended June 30—
Total operating revenues
Operating
$12,628
—
$111,296
$21,099
$31,811
142, p. 3167.
Eastern
Steamship Lines, Inc. (& Subs.)—Earnings
Operating
Operating
1936-—Month—1935
revenue...__.
expense
Otherincome
.
Other expense.
$962,836
809,500
1,155
50,206
1936—6 Mos.—1935
$4,447,725
$4,183,399
4,322,928
4,326,665
8,266
*
7,313
$960,068
768,793
1,111
.....
$104,285
48/716
319,393
322,868
$143,670
.
$186,330
$458,821
Comparative Consolidated Balance Sheets
June 30*36
Assets—
Real
S
Dec. 31 '35
for
depreciation
Misc.
investments
Cash.
fund
(cash)———.
12,177,735
249,703
12,525,569
246,205
757,015
Replacement
Market, securitea.
728,406
......
319,030
319,030
4,436,411
8,590
8,590
y2,310
Long term debt... 4,052,400
648,099
568,470
4,283,800
368,599
82,478
100,699
interest
Unmatured int.
847,065
635,696
160
356
rec
Gross
70,148
Operating reserves
29,loO
10,582
186,692
188,167
131,635
31,757
5,555,641
losses
Other
deferred
items
Jan.2,1936,
$105 per sh„
2,310
568,470
649,556
on
Int.
5H% 3-yr. notes (owned by affil. cos.).
on
15,222,372 15,963,923
...
Total
June 30
Assets—
36
Dec. 31 '35
June 30 *36
Liabilities—
$
3,093 060
192 ,361
348 923
262,941
415,425
260,910
U. S. Govt,
1,802 783
2,036,305
Federal
2,119, 663
2,494,289
Res'ves for conting
577,285
155,579
7,253 430
—
7,355,046
&c.
secur.
Other assets
Fixed assets
tr.-mks., li¬
censes,
inc.
tax,
299, 975
&c
248, 355
Unexpired ins., &c.
Period End. June 30Gross earnings
Operation
Maintenance-_
281,081
After
$593,164
250,000
125,273
167,912
25,430
30,000
1,453
CV411
Cr 196
$5,255
(Del.) (& Subs.) —Earnings—
1936—Month—1935
$247,039
$230,336
113,242
102,355
13,136
13,671
29,503
26,205
36,153
.36,123
Balance
$55,003
$51,979
1936—12 Mos.—1935
$2,886,838
$2,759,301
1,301,827
1,189,225
166,260
159,412
321,204
315,182
433,691
434,464
Appropriations for retirement reserve.
Preferred dividend requirements of subsidiary
Pref. div. requirements of El Paso Ei. Co. (Del.).
$663,854
335,000
46,710
182,972
$661,017
307,500
46,710
190,591
Balance for common dividends and surplus....
$99,172
$116,215
143,
—
p.
270.
■
Eisler Electric
Corp.-
■Earnings —
6 Months Ended June 30—
Net
sales..
1
1936
-
—
—
Net income before provision for Federal income tax
$502,926
55,565
1935
$378,150
27,091
In his letter to stockholders, C. A.
Laise, President, says in part:
meeting of stockholders held on April 7, 1936, it was voted
authorized capital stock from no par value to shares
having
a par value of $1 each.
The effect of this capital readjustment is to elimi¬
nate the deficit balance resulting from unprofitable operations
during the
depression years and place the corporation in a position to disburse divi¬
"At the annual
to change the
looks
with confidence,
earnings.
To this end your management
and it is hoped that dividend payments
sumed at an early date."—Y.
surance,
&c
Min. int. in subs..
y
246,891
214,511
Capital stock... 2,784,584
299,975
226,640
Capital surplus... 7,526,0161
Profit & loss surpl. 2,525,577
180,570
188,797
2,784,584
Dr50,252
7,525,987
6 Mos. End. June 30—
Net prof, after deprec.,
Federal taxes. &c
143,
p.
can
be
re¬
427.
1,893,915
Earns, per sh. on 70,855
15,084,829
14,481,624|
Electric Controller &
no
Total
15,084,829
14,481,624
for depreciation of $4,132,708 June 30 and $3,713,100
Represented by 696,146 no par shares.
for three and six months ended June 30 were given in
"Chronicle" of July 18, page 427.
x
The
—
Interest & amortization.
x
Dec. 31.
$559,987
250,000
125,273
197,212
18,091
30,000
$60,178
Balance, loss....
-V. 142, p. 3849.
dends from current and future
(estimated).
Treasury stock—
goodwill,
Total.
charged to construction
$591,711
compensation in¬
<fc accrued int...
Pats.,
309 ,737
167 561
(less reserve)
*35
$
1,018,747
M'h'dise inventory
(less reserve)
Dec. 31
655 146
Accrued taxes, &c_
Divs. payable
100 000
Notes & accts rec.
x
$
Accounts payable.
Unpaid payroll, &c
1,336,504
Ctfs. of depos. ma¬
turing in curr. yr
unfunded debt...
$553,512
6,475
262,931
82,881
233,084
15,222,372 15,963,923
Mfg. Co. (& Subs.)—Consolidated Balance Sheet—
Cash
_________
Amortization of debt discount & expense
Amortization of miscellaneous suspense
-v.
x
Represented by 63,806 no par shares,
y Galled for redemption Jan.
2, 1936, at $105 per share.—V. 143, p. 754.
Eaton
on
1st mtge. bonds
92,173,
cr.
Surplus
Deferred items469,940
Total
income
Interest
Taxes.
Reserve for marine
pref. stk. outst.,
at
pay..
Taxes accrued
5,414 shs. 1st
call.
...
...
El Paso Electric Co.
Old
577,561 Working liabilities
3,490 Unmat. divs., int.
Dep. for redempt.
of
in
Dominion SS.Co
1st preferred stock
and rents
oth. work, assets
..."
income-
Interest
%
4,436,411
Traffic balances &
,
A
$2,605,940
1,435,331
Min. stockholders'
747,050
...
...
taxes
1935
£2,840,144
1,722,742
300,255
70,135
193,499
Dec. 31 '35
Preferred stock..
x
equip, at cost
reserve
$
Common stock...
&
property
Jess:
-
June 30*36
Liabilities
$
for
Operating income
Other
Interest
Net income
;
Provision for retirements
Provision
Per .End. June 30—;
;
expenses
Maintenance.
Net loss
-V.
-Earnings1936
.
reserve
y
earnings
par
shares
Mfg. Co,— Earnings—
1936
1935
x$213,486
$174,963
$3.01
$2.47
1934
1933
$53,570 loss$109 628
$0 .75
Nil
Before deducting Federal tax on undistributed profits.
The profit and loss surplus account as of June
30, 1936 is $592,930
The
profif and loss surplus account as of Dec. 31, 1935 was $429,992.
Current assets amount to $1,757,683.
Of this amount, $1,030 441 con¬
sists of cash and United States Government securities.
Current liabilities
total $222,621.—V. 142, p. 3674.
r
iwuwues
.
Financial
920
Light Corp. (.& Subs.)—Earnings—
1936—12 Mos.—1935
1936—3 Mos. -1935
Power &
Electric
Period End. June 30—
Operating revenues
$22,019,228
Oper. exps., incl. taxes. 11,637,116
$17,937,381
10,464,040
$86,025,058 $75,821,987
oper.-$10,382,112
$7.473,341
17,778
lir20,484
other
&
public
to
constructs
retire, ^depletion
Prop,
appropriations
CV2.482
Cr8,504
2,697,414
reserve
Balance...
$3,809,591
— -
public (full
div. require, applic. to
resp.
periods whether
earned or unearned)-*
15,621,890
Cr37,207
3,733,047
3,863,12/
deductions....i
Int. chgd. to
91,314
Dr71,289
,
9,635,650
8,751,935
$9,806,709
269,709
270,026
94,903
71,592
239,593
84,866
209,584
$556,071
1,452
$538,767
8,118
$557,523
375,273
l.o88,2/6
-
^
_
$2,386,766
1,312,341
241,208
retirements, renewals
and replacements of fixed capital..
for
206,04/
Provision for taxes
$567,778
Operating income
1,532
Other income...-...—
on
Interest
on
CV369
020
$40,55.5
$11,149
prof $4,576
9,000
funded debt
umunded debt
Amortization of debt disc.
$546,884
375,273
109,899
33,276
30,000
06,140
3,000
$569,311
375,273
186,870
18,091
30,000
Gross income
Interest
2,140,031
_
_
1933
$2,561,008
1,423,725
-
$2,/26,710
_____ — —
Operating expenses
Maintenance.
15,453,954
C'r49,483
$1,620,523 $15,198,783
1934
r:'-;
Operating revenues.
Provision
$7,491,119 $40,419,116 $33,963,115
income...$10,361,628
Gross corp.
Int.
4.1,950,186
& Power Corp.- -Earnings-
Elmira Light, Heat
Calendar Years—
$40,490,405 $33,871,801
Net revs, from
Other income (net)
45,534,653
Aug. 8, 1936
Chronicle
& expense.
Amortization of miscell. suspense---Interest^charged to construction
131,408
32,010
30,000
Pref. divs. to
i
Balance
Net loss
7,923.007
7,923.497
$1,828,840 loss$360,3o2
.....
Portion applic. to
1,980,875
$7,275,776
Balance Sheet Dec. 31
156,812
121,074
33,20o
$7,154,702
$1,750,992 loss$393,557
.
$1,726,400
Dep.
with
.nM
„r_
$1,750,992 loss$393,5o7
1,000
1,280
Other income.
$7,154,702
2,880
$1,726,400
6,880
&L751.992 loss$392,277
above)—
$7,157,582
$1,733,280
217,363
1,588,974
366,524
1,588,974
.
Exps., including taxes..
deductions.
54,336
397,244
65,664
397,244
200,000
38,011
Com.stk.(SlOOpar)
2,000,000
7,277,700
terest
Notes pay.
85,748
90,346
294,406
199,123
Mat'ls & suppl's..
accts.
from
2,000
.
fi¬
23,900
nancing co
receivable.
sold
7,277,700
2,378,502
2,598,947
in¬
(contra).
Advances
1,289
ing funds)
Appl.
bond
Matured
in lieu of mtged.
Accts.
debt
Funded
Notes & accts. pay.
200,000
2,000,000
.
prop, destroyed.
Cash (incl.
work¬
&
of
Pref. stk.($100par)
2,000
trustee
$
14,430,869
81,168
Investments
El. Pow.&Lt Corp.—
Net equity of El. Pr.
Lt. Corp. in income
14 ,402,755
1934
$
Liabilities—
$
Fixed capital.....
Deposits tor mat'd
bd. int. (contra).
„
1935
1934
1935
77,848
snr$l,576
$890,149
$40,555
Balance, deficit.
Assets—
Net equity of El. P. &
Lt. Corp. in income
of subs
Int. & other
Common dividends
•
periods)
Total income.
870,000
minor.
(based upon hldg.
by the public of com.
stks. of subs, at end of
each of the respective
ints.
of subs, (as
-
Preferred dividends
$1,883,212
l,980,7ol
Interest
accrued..
Misc. accruals
88,000
103,944
91,586
98,396
20,927
19,164
67,173
62,488
Consumers' service
1,459,196
1 420,167
Def'd debit items.
113,558
58,205
106,449
Taxes accrued
127,997
rec'le
(contra)
112,000
(bank)
Accounts payable.
293,997
&
line
deposits.
Guaranty of appli.
accts.
Bae1arnMsurp>lu^^!0.1-
$5,351,245 loss$222,218
Notations—All intercompany transactions have been eliminated from
the above statement.
Interest and preferred dividend deductions of
subsidiaries represent full requirements for the respective periods only
(whether paid or not paid) on securities held by the public.
The portion
applicable to minority interests" is the calculated portion of the balance
of. income applicable to minority holdings by the public of common stocks
of subsidiaries.
Minority interests have not been charged with deficits
where income accounts of subsidiaries have so resulted.
The "net equity
of Electric Power & Light Corp. in income of subsidiaries" includes interest
and preferred dividends paid or earned on securities held, plus the proportion
of earnings which accrued to common stocks held by Electric Power &
Light Corp., less losses where income accounts of individual subsidiaries
have resulted in deficits for the respective periods.
The statement for
each period is entirely independent of the statement for any other period.
No provision has been made for Federal surtax upbn "undistributed
income" of the companies for the six months ended June 30, 1936, inasmuch
as the amount of such income subject to surtax is not determinable until
Dec. 31, 1936, and is dependent upon the action of the companies' boards
of directors with respect to the payment of dividends on or before Dec.
31, 1936.
sold
rec.
Provision for retirements.
Federal income taxes
$1,289,084 loss$843,857
,
and Summary of Surplus (.Company Only)
1936—12 Mos.—1935 .
$1,737,951 $1,624,475
2,880
6,880
Comparative Statement of Income
1936—3 Mos.—"-1935
$390,789
$313,254
1,000
1,280
Period End. June 30—'
Gross inc.—From subs.
Other
$314,534
$1,740,831
54,336
397,244
$391,789
65,664
397,244
Total income........
Exps., incl. taxes
Int. & other deductions.
217,363
1,588,974
$1,631,355
366,524
1,588,974
(loss) carried
surplus..
$65,506
$137,046
$71,119
to earned
......
1,899,711
84,632
1,953,224
78,523
1,971,125
119,078
16,579,256
16,435,819
unadjust. credits
for
Contrib.
exts.
(non-refundable)
Capital surplus
Corporate surplus.
16,579,256
Total
16,435.8191 Total
78,222
-V. 142, p'. 3849.
•,
Empire Forms, Inc.—Registers with SEC—
See list given on first page of this department.—V; 122, p. 2337.
Empire Gas & Electric Co. (&
Subs.)—Income Statement
—
—
Maintenance..
$3,395,398
2,184,973
289,309
184,612
28,774
217,808
—
Other taxes.
8,363
Other income.2
unfunded debt
:
.
...
Amortization of debt discount and expense
$324,143
$390,986
268,990
$498,284
268,970
101,093
26,383
Gross income
Interest on funded debt
on
215,726
$389,338
1,648
$489,921
Operating income
Interest
1935
$3,187,272
2,057,517
274,625
250,066
1936
12 Months Ended June 30—
Operating revenues
Operating expenses
Interest charged to
Balance
88,000
1,929,916
(contra)
Reserves & miscell.
93,592
26,487
Cr433
CV592
$102,271
$2,507
construction..
Balance of income
—V. 142, p. 4020.
(Company Only)
Balance Sheet June 30
'
Liabilities—
$
S
"
182,591,955 182,620,237
1,880,755
2,301,454
Investments
Cash
600,000
199,999
1,550,000
c916,000
24,069
5,532
a
596,000
31,710
5,155
Time dep.In bks.
U. S. Govt, sec.
par
certificates
rec.,subs
subs
Accts. rec.—oth.
Subscrib.
to
Long-term debt.
Accts.
payable.
Accrued accts.
_
Reserve
$7
5,335
101,834
5,300
31,000,000
21,464
683,299
156,489
10,900
31,000,000
23,589
688,496
156,539
3,548,317
June 30,'36
30,'36 Dec.31,'35
Liabilities—
$
1,022,607
x Bonds
7,879,167
8,265,241
Stocks
1,127,492
1,336,182
792,174
Mortgage loans.._
667,105"
Collateral loans
50,000
Real estate
1~52~580
166,145
Loss
Prems. in course of
Commis.
1,529,145
Other
__T
f,
collection
bReacq.cap.stk.
disc. & exp
incl.
accr.
345,617
190,393,503 190,471,981
Total.
190,393,503 190,471,981
Elizabethtown Water Co.
Consolidated—Earnings—
1935
Non-operating income
_
•
1934
$804,568
559,255
...
$816,148
560,788
$245,313
16,952
deductions.....
Water operating income
$255,360
18,476
$262,264
20,031
$242,248
Net corporate income.
Amount
Balance Sheet,
1934
1935
property...? 5,873,332 $5,787,930
63,955
313,206
64,677
253,875
1,761,804
1,805,546
60,500
695,235
67,769
1,589
53,900
700,425
Mat'ls & supplles.
Cash
Acc'ts receivable..
.......
.....
Reacquired secure.
Prepayments
67,769
5,102
suspense...
Other
715
665
deposits..
215
215
Special
Dec. 31
Surplus
Total
12,845,263
1935
Liabilities—
Funded debt
$395,000
Taxes accrued
Interest accrued..
bills
88,661
3,292
1934
$395,000
90,088
3,292
2,701
278,910
11,258
2,845
289,020
11,336
193,004
Amortization res..
911,244
Capital stock
4,000,000
Fixed surplus
180,793
Operating surplus. 2,773,458
152,184
842,087
for
-V.
.,'..$8,838,323 $8,740,105
English Electric Co. of Canada, Ltd. (& Subs.)—
[Including
subsidiary,
Canadian
1935
Calendar Years—
Loss for year...
Provision for deprecia'n.
Divs. on class A stock..
$38,494
40,000
140, P. 2353.
Crocker-Wheeler Co.,
1934
1933
$52,964
$101,935
40,000
40,000
Ltd.]
1932
$71,276
40,000
—;—
$92,964
$78,494
Balance, deficit
28,500
$141,935
$139,776
Consolidated Balance Sheet, Dec. 31,1935
on
Liabilities—
hand and in banks
4,000,000
180,793
2,773,458
$165,557
30,114
Inv. in marketable bonds and
receivable
Amounts owing
of
Inventories
work
in
$8,838,323 $8,740,105
Acc'ts payable & accr.
Accrued
x
taxes
Capital and surplus
liabll..
$31,607
1,353
1,873,649
144,924
debs, at market value
Accounts
115,242
by officers and
1,413
raw
progress
materials,
and fin¬
ished stock
Prepayments on contracts
con¬
tingencies, &c__
Total
1,114,870
1,500,000
1,500,000
x Includes U.
S. Government bonds, $3,509,007 in 1936 ($3,201,900 in
1935).
Canadian Government bonds (statutory deposit in Canada),
$95,505 in 1936 ($95,452 in 1935); State, county and municipal bonds,
$4,193,244 in 1936 ($4,117,032 in 1935); industrial bonds, $250,901 in
1936 ($278,295 in 1935); railroad bonds, $216,583 in 1936 ($186,488 in
1935).—V. 142, p. 1638.
-
employees..
&
Consumers' deps_.
Other accts. pay..
Reserve
239,025
1,402,681
1,500,000
1,500,000
.12,845,263 11,659,735
Total
11,659,735
Call loans
Unaudited
314,823
Capital..
Other assets & def'd charges..
Fixed assets
Contracts, agreements, &c
142,083
Crl5,000
28,590
1,176,933
116,751
Goodwill
1
Total.
Total
136,422
for
Vol. spec, reserve.
$253,805
vouchers
Earned revenue not
held
pany.
Assets—
Assets—
7,500
102,608
reinsurance com¬
Cash
Investments
91,848
7,500
$273,836
20,016
.'
corporateincome.
Deductions from income
charged
242,510
84,000
on
conting.
Res. for State and
Calendar Years—
Plant
505,212
2,881,318
commissions
a Represented
by: $7 pref., cum. (entitled upon liquidation to $100 a
share); pari passu with $6 pref. and $5 pref.: authorized, 800,000 shares
issued, 515,135 shares $6 pref., cum. (entitled upon liquidation to $100 a
share: pari passu with $7 pref. and $5 pref.; authorized, 1,000,000 shares
issued and outstanding, 255,430 2-3 shares.
Second pref. series A ($7),
cum. (entitled upon liquidation to $100 a share) pari passu with 2d pref.
series AA ($7); authorized, 120,000 shares issued and outstanding, 82,964
shares in 1936 (83,814 in 1935)).
Common, authorized, 4,000,000 shares
issued 3,422,089 shares in 1936 (3,418,689 shares in 1935).
b Represented
by 961 shares $7 pref. and 835 snares common in 1936 (826 shares common
in 1935).
c Loans receivable from subsidiaries only.—V.
143, p. 269.
Gross
553,269
3,108,391
Res. for misc. bills
Water operating revenue
Water operating revenue
3,441,030
unearned
Federal taxes
Total
$
3,926,374
..
premiums
Res.t for
debt
Unamort.
classes
for
31,'35
&
premiums...
585,548
100,166
724,873
106,573
Interest accrued..
liab.
investig'n exp_.
Res.
3,686,299
__
res.,
Dec.
$
compensation
101,825
3,647,325
Assets—
Cash
.
3,482,811
Surplus
pref. stk. allot,
certificates.
$7
to
pref. stk. allot.
Notes and loans
Accts. rec.,
June
155,044,139 155,044,139
value)
City—Con-
Kansas
Corp.,
Reinsurance
densed Balance Sheet-—
(no
Cap. stk.
Subscrip.
$
Employers
1935
5
1935
1936
^\.sscts
1936
.___$1,906,610
x
Total
..-.$1,906,610
by: 36,190 class A shares without nominal or par value
deducting 758 shares purchased and held, canceled on Feb. 11, 1936
Re presented
after
Volume
Financial
143
(authorized—48,000 shares) callable at $55 a share
40,000 class B shares without nominal or par value
shares).—V. 141, p. 1786. •
Chronicle
which
30 days'
notice;
(authorized—50,000
on
demption
|£ Engineers Public Service Co. (& Subs.)—Earnings—
Taxes.
484,840
$1,668,561
58,877
Balance..
Inc. from other
$1,727,439
sources.
Balance.......
$1,554,846 $20,329,049 $18,667,647
690,082
8,247,177
8,350,137
Int. and amortization
•
662,583
as soon as practicable of its outstanding 6lA% cumulative
preferred stock, having an aggregate par value of $600,000, at $110 ^ share;
$600,000 to be applied to the payment of outstanding notes of the company
held by The First National Bank of Chicago, which loans were incurred
the purpose of retiring the 6y2% cumulative preferred stock of the
for
company; $250,000 to be applied to improvements or additions to the
property; and $1,500,000 to be applied to the acquisition at $100 a share of
15,000 shares of second preferred stock of The John Shillito Co., a subsidiary
of The F. & R. Lazarus & Co., of which amount the John Shillito Co. will
apply $540,000 to the payment of outstanding notes, and $960,000 for
improvements and extensions to its plant and buildings.
Lehman Bros., of Nev York City, is expected to be one of the principal
underwriters, it is stated.
The price to the public, the names of other underwriters, the underwriting
discounts or commissiors, and the conversion rates are to be furnished by
amendment to the registration statement.
Edward C. Blum, of Brooklyn, New York, is President of the cor¬
poration.—V. 142, p. 3675.
Balance applicable to E. P. S. Co., before allow¬
ing for unearned cumulative preferred divi¬
dends of certain subsidiary companies
Erie County Electric
•
•
Operating re venue
Ordinary expenses
Maintenance
.
•
...
Provision for renewals and replacements
Provision for Federal income taxes
Provision for other Federal taxes
Provision for other taxes
_.
.............
<Gfosci; income
funded debt
on
71,440
31,783
39,005
$534,428
24,749
$559,178
Miscellaneous interest
Amortization of debt discount and expense
Other income deductions-..-.......--....^.-..
110,805
1,429
1,916
2,128
8,145
_
Net income
Dividends
495,432
47,879
94,544
$502,572
20,215
;...
1,777
8,212
$436,954
393,750
$408,852
354,375
...........-_....
Consolidated Balance Sheet Dec. 31
Assets—
Special deposits
Notes & loans rec.
receivable
-.
charges
Funded
payable.
Accrued accounts.
Deferred
credits.
_
Reserves.
surplus...
Total
$6,675,725 $7,080,987
141, p. 1272r
Erie
debt
Custom's' deposits
Total
-V-
$3,937,500
1 ,424,000
1,921,000
$3 ,937,500
Accounts
Earned
1934
1935
(par
$100)
10,675
438,200
36,047
10,000
142,353
135,286
143,623
7,614
120,218
127,392
117,665
Mat'ls & supplies.
Del'd
587,998
314,868
110,656
279,111
5,743
Cash
Acc'ts receivable
Liabilities—
Capital stock
,592,456 $5,576,803
Investments
Interest
1934
1935
Prop., pl't & eq.-S
30,878
16,668
176,473
38,748
949,460
101,997
26,487
19,301
131,348
indenture securing these bonds, the sum of approximately $60,139.
The
committee will arrange, after provision for charges and expenses, promptly
to distribute this balance among the bondholders.—Y. 120, p. 834.
..$6,675,725 $7,080,987
(Wm.) Filene's Sons Co.—Pref. Stock to Be Redeemed—
See Federated Department Stores, Inc., above.—V. 142, p.
[Including Chicago & Erie RR]
1935
1936
$7,024,063
2,126,087
1.349,811
Gross from railway
Net from railway
Net after rents
1934
$6,558,630
1,809,391
1,130,197
$6,379,181
1,747,019
1,190,768
Fisk Rubber
1933
$6,447,572
2;236,261
1,552,980
39.929,338
11,271,200
7,235,662
Gross from railway
36,323,276
9,424,991
5,984,336
38,557,115
11,376,318
7,480,314
——6 Mos. Ended June 30
3 Mos. End.
1936
1935
1934
$5,427,258
4,623,577
972,417
$5,489,305
4,594,954
916,713
$5,032,919
3,721,512
$113,442 loss$168,736
13,650
27,318
loss$22,362
28,876
$405,358
32,408
$127,092 loss$141,418
$6,514
1,000
$437,767
65,000
$127,092 def$141,418
Period—
$5,514
$372,767
June 30, '36
$3,397,668
Manuf'g cost of sales..:
2,778,029
Commercial expenses—
506,197
33.194,766
8,711,177
4,691.005
Profit
—V. 143, p. 270.
3169.
Corp. (& Subs.) —Earnings—
Gross sales, less returns
and allowances
From Jan. 1—
Net from railway
Net after rents,
informed that there is now on hand
of New York.vthe trustee under the
in this property.
The committee is
with Continental Bank & Trust Co.
12,848
926,337
106,164
RR.—Earnings.—
June—
(George E. Roose¬
report to depositors of bond certificates dated July 31
a
The committee called attention in a prior report to the fact that the income
of the property was insufficient to pay taxes and to pay rent under the
ground lease, and that there existed defaults which would permit the land¬
lord to exercise his rights under the ground lease by dispossess proceedings,
thus destroying completely the security of the bondholders.
The defaults
in the payment of ground rent and real estate taxes have considerably
increased until, as at June 30, 1936, the defaults in rent under the ground
lease amounted to $62,976, and taxes in arrears amounted to $112,598, both
exclusive of interest.
Based on figures supplied by the trustee, the operat¬
ing income for the 12 months' period ended June 30, 1936 was $159,303,
as against ground rent of $90,000, and real estate taxes of $47,963.
After
payment of operating expenses of $58,873, operations for the period
resulted in a deficit after ground rent and taxes, of $37,533.
Repeated efforts were made to induce the landlord to modify the terms of
the ground lease, so as to create a proper basis for a reorganization of the
property.
These negotiations were interrupted by the death of the land¬
lord.
The committee continued negotiations with the representatives of
the landlord's estate in an effort to arrive at some method of protecting
the investment of the bondholders.
The possibility of attempting reorgani¬
zation under Section 77B of the Bankruptcy Act was also considered but the
committee was of the opinion, in view of the attitude of the fee interest,
that nothing could be accomplished in this direction.
The executors and
trustees of the landlord's estate, after consideration of the situation, felt
it their duty to insist on full performance under the lease or to retake the
property.
Dispossess proceedings were instituted by the executors and
trustees of the estate, and the committee advises its depositors that on
July 10, 1936, a final order was entered in such proceedings.
The effect
of this order is to terminate all of the estate and interest of the bondholders
1,314,513
$522,787
101,745
Operating income
Non-operating income.
Interest
velt, Chairman) in
states in part;
1934
1935
$1,314,297
498,113
45,989
94,153
66,324
31,564
75,580
.......
Bldg., N. Y.—Termenated—
The Real Estate Bondholders Protective Committee
Subsidiary]
a
t
....
...
_
57th Street & Madison Avenue Office
Bondholders Interest In Property
Co.-—Earnings—
[Including Central Heating Co.
Calendar Years—
$2,394,147
1,458,102
$3,158,155
650,807
$4,963,530 to the re¬
practicable of its outstanding
% cumulative pre¬
value of $4,512,300, at $110 a share
$36,470 will be ufced for additions to
redemption
Balance
$1,064,856
$864,764 $12,081,872 $10,317,509
Appropriations for retirement reserve
5,152,763
4,953,013
Dividends on preferred stocks, declared
2,386,789
2.230,346.
Cumulative pref. divs. earned but not declared-.
1,373,083
730,367
Amount applicable to minority interests.....
11,081
9,634
Cum. pref. divs. of certain sub. cos., not earned..
—V. 143, p. 109.
will apply
$3,000,000 for the acquisition at $100 a share of 30,000 shares of $100 par
value 454% preferred stock of The F. & R. Lazarus & Co., a subsidiary,
of which amount The F. & R. Lazarus & Co. will
apply $660,000 to the
$1,502,635 $19,662,513 $18,040,875
52,211
666,536
626,772
1,631,817
234,547
...
as
Co.
Sons
working capital;
1936—12 Mas.—1935
$46,484,946 $44,365,617
1,538,653
19,111,658
18,312,854
210,274
2,670.843
2,572,454
454,126
5,039,930
5,439,433
....
...
as soon
Filene's
ferred stock, having an
aggregate par
and accrued unpaid dividends, and of
r Period End. June 30—
1936—Month—1935
Gross earnings
$4,019,767
$3,705,690
Operation...
Maintenance...
921
Wm.
amount
Other income
—
—
906,048
Exchange Buffet Corp.—Capital Reduced—•
Operating profit.
Stockholders at their annual meeting held Aug. 5 voted a reduction of
the amount of the capital of the corporation from $1,250,000 to $875,000,
Prov. for Fed. inc. tax._
thereby eliminating the deficit as shown by the balance sheet dated April 30,
1936, and creating a capital surplus.—V. 143, p. 755.
Net income
—V.
Exeter Oil Co.,
Ltd.—Earnings—
3 Mos. End. June 30—
Operating
1935
1936
fixed charges
Net after depr.,depl.,
1933
i
$14,838
9,469
&c
,
$13,593
8,552
$10,459
362'
$5,035
$349,336
225,000
800
800
1,110,917
1,095,501
Investments
Property.
Purch.
260,000
500
1
4,027
I....
Class A stock
Class B stock
1
Prep. & def. chgs.
obligations
Reserves
500
exp.
1936
Current liabilities.
$324,143
rec
1935
$182,791
3,119
756,631
790,100
8,152
50,212
$156,278
3,119
780,531
792,170
8,152
55,702
3,603
Franchise
Organization
Deficit...
retirements,
ments of fixed capital
renewals
Total.........$1,690,581 $1,684,548
-Y.
142, p. 4020.
See list given on
...—
.....
first page of this department.
Falstaff Brewing
48,815
...
Gross income..
...
6 Months Ended June 30—
Net sales
;
1936
;
Net earnings
P.
Interest on unfunded debt
Amortization of debt discount and expense.
charged to construction
After deducting
Dividends on preferred
—
-X$2,211,865
289,300
1935
$1,495,614
82,249
Federal and State excise taxes of $1,238,558.—V. 141,
Inc.—Files with SEC—
To Issue 140,000 Shares of 4\i% Pref. Stock—Abraham &
Straus, Filene's, Bloomingdale's and Lazarus Are Involved—
The company on
Aug. 1 filed with the Securities and Exchange Com¬
mission, a registration statement (No. 2-2375, Form A-2) under the Se¬
curities Act of 1933 covering 140,000 shares of ($100 par) 4\i% convertible
preferred stock and an undetermined number of shares of no par value
common stock, including scrip certificates for fractional shares.
The com¬
stock registered is to be reserved for conversion of the preferred.
According to the registration statement, the corporation intends to apply
the net proceeds from the sale of the preferred stock as follows;
$2,500,000 to the acquisition at $100 a share of 25,000 shares of $100 par
value 3%% preferred stock of Abraham & Straus, Inc., a subsidiary, of
which amount Abraham & Straus, Inc., will apply $1,994,630 to the re¬
demption as soon as practicable of its outstanding 7 % cumulative preferred
Stock, having an aggregate par value of $1,813,300, at $110 a share and
accrued unpaid dividends, and $505,370 will be used for additions to working
capital;
$3,500,000 to the acquisition at $100 a share of 35,000 shares of $100 par
value 3H% preferred stock of the Bloomingdale Bros., Inc., a subsidiary, of
which amount Bloomingdale Bros., Inc., will apply $3,048,870 to the
redemption as soon as practicable of its outstanding 7% cumulative preferrea stock, having an aggregate par value of $2,771,700, at $110 a share
and accrued unpaid dividends, and $451,130 will be used for additions to
working capital;
$5,000,000 for the acquisition at $100 a share of 50,000 shares of $100 par
value 3M% preferred stock of Wm. Filene's Sons Co., a subsidiary, of
mon
.—..
$1,070,081
608,600
48,769
47,964
608,600
38.271
47,964
Crl ,470
8,373
■—V. 142, p.
Cr333
263
...
stock
.....
Balance—...
$374,792
222,124
$368,341
$146,299
1936
$184,107
212,166
of—
January
February
....
_ —_
March..
-
-
1935
$165,027
192,684
143,
p.
214,193
226.586
126,196,
265,007
286,932
229,742
298,662
323,390
275,332
228,879
239,800
249.870
352,253
315,021
300,316
197,556
270.
Fort Worth & Rio Grande
June—
Gross from railway
Net from railway
Net after rents.
From
1933
$101,306
123.869
212,259
332,917
June......
July
1934
$154,799
161,205
282,947
337,261
.—.
April
May.....
—V.
222,041
4176.
(M. H.) Fishman Co., Inc.—SalesMonth
1436.
Federated Department Stores,
$1,001,810
68.270
$152,667
Balance of income—
Corp. (& Subs.)- -Earnings-
27,446
217,865
$1,080,055
;
Miscellaneous deductions from income-
Corp.—Registers with SLC-
227,056
61,517
190,182
Operating income..——.....—............ $1,031,240
Interest
Faddis Oil & Gas
x
$1,684,548
151,750
253,257
.—
Interest on funded debt.
Total... ......$1,690,581
892,966
and replace¬
Federal income taxes....
Other income
$2,525,284
160,029
...
for
Other taxes
1935
1936
$2,659,757
969,918
Operating revenue—Electric
Operating expenses
Provision
Liabilities—
1935
1936
Assets—
Corit.
(& Subs.)-—Earnings—
12 Months Ended June 30—
Maintenance
Balance Sheet June 30
Current assets....
4340.
p.
Florida Power Corp.
1934
before
profit
142,
Ry.—Earnings.—
1936
$45,658
defl,658
defl3.229
1935
$41,848
def8,775
defl7,037
1934
$40,043
def9,757
defl8,332
$39,513
defl9,690
def30,081
1933
233,250
def74,305
defl44.239
199,627
def92,159
defl44,659
208,000
def96,112
def149,130
203,355
defl38,267
def203,680
Jan. 1—
Gross from railway
Net from railway
Net after rents
—V. 143, p. 271.
Froedtert Grain & Malting Co., Inc.—Stock
Offered—
Co., Inc., on Aug. 5 made public offering of an
issue of 100,000 shares of common stock at $13.50 per share.
This offering does not represent any new financing by the
company.
The offering includes only outstanding shares
Hammons &
acquired
or
which
may
be acquired by Hammons & Co.,
Aug.
Financial Chronicle
922
Inquiries Solicited in
General Candy
Corp.-—30-Cent Extra Dividend—
declared an extra dividend of 30 cents per share in
the regular quarterly dividend of 15 cents per share on the
class A stock, both payable Sept. 21 to holders of record Sept. 10.
An
extra of 15 cents per share was paid on June 20 last.—V. 142, p. 3345.
directors have
The
addition
Gary Electric & Gas Co.
Stock
Bonds and Common
to
General Motors
Corp.—30-Cent Extra Dividend—
75 cents per share
dividend of 50 cents per share on tne
payable Sept. 12 to holders of record Aug. 13.
Previous extra distributions were as follows; 75 cents on June 12, last;
50 cents on Dec. 12, 1935; 25 cents on Sept. 12, 1935; 50 cents on Sept. 12,
1934; 25 cents on Dec. 12, 1933, and 30 cents per share on Jan. 3, 1930,
and on July 2, 1929.
'
•
The directors on Aug.
trading department
in addition to
3 declared an extra dividend of
the regular quarterly
common
YORE STOCK EXCHANGE
stock, par $10, both
Nevj
Eastman, Dillon 8 Co.
MEMBERS NEW
of the Chase National Bank, trustee.—
at the offices
redemption price
V. 143, p. 756.
1936
8,
Vice-President—
,
New York
16 Broad Street
A. T. & T. Teletype
N. Y. 1-752
Ronald K. Evans has
been appointed a Vice-President of the company.
Record—
Chevrolet Retail Sales Reach New
Inc., from two stockholders, Kurtis R. Froedtert and Else
Froedtert Lyng.
Transfer agent, Registrar & Transfer Coif 7 Dey St., New York; CoTransfer Agent, Registrar & Transfer Co., 15 Exchange Place, Jersey City,
N. J.; Registrar, Continental Rank & Trust Co.. 40 Broad St., New York.
A
r
prospectus dated Aug. 5
affords the following:
History—Company and its predecessors have been in business under
of the Froedtert family for approximately 68 years, without
interruption.
Beginning shortly after the Civil War, with a production
of ,55,000 bushels of malt per annum, the company has bi ilt up its malting
capacity to approximately 8,600,000 bushels per annum.
With the excep¬
tion of $700,000 capital stock paid for in cash or its equivalent prior to
July 25, 1922, and capital stock with a par value of $900,000 sold to the
public in 1935, the net worth of the Company consists of reinvestment
of earnings of the business.
The net worth, as shown by the company's
balance sheet as of April 30, 1936, after deducting deferred charges of
$67,085, was $3,966,508.
The company and its predecessors have operated at a profit throughout
their existence of 68 years, with the exception of two years.
One of these
was 1930, when the company sustained a loss of approximately $108,000;
the control
the other year was about 1880.
The company operates three large
<
malting plants which have a combined
bushels a year.
The largest
Wis. and the other two plants
are located at Winona and Red Wing, Minn.
The addition of a new unit
to the plant in Milwaukee County was completed early last year.
This
new unit has a malting capacity of approximately 4,000,000 bushels per
year and is regarded as the world 3 largest single malting unit.
The older
malting capacity of approximately 8,600,000
of the plants is located in Milwaukee County,
has a malting capacity of approximately 2,500.000 bushels per year; the Red Wing plant a malting capacity of appro? imately 497,000 bushels per year, and the Winona plant a malting capacity
of approximately 1,630,000 bushels per year.
The total storage capacity
of all the plants is approximately 3,475,000 bushels, the storage capacity
of the company having been increased by about 1,000,000 bushels in the
winter of 1931-1932.
■
The company now has under construction in Milwaukee County new
elevators which will increase the storage capacity by approximately 1,600.000 bushels.
It is estimated the total cost of construction and equipment
will approximate $375,000.
An addition to the malt houses in Milwaukee County, which, it is esti¬
mated, will increase the company's malting capacity in excess of 800,000
bushels per annum, is also being built at a total cost of construction and
equipment of approximately $150,000.
The new elevators will probably be completed about Nov. 1 and the
during the month of July reached a total of 111,900
July figure in the history of the company, W. E. Holler,
Vice-President and General Sales Manager, announced on Aug. 6.
The
closest approach to this record was in July, 1929, when 103,428 units were
sold
The July sales achievement, Mr. Holler said, brings retail sales since
Jan
1 to 777,028 units, which is 99,247 higher than the previous all-time
record set in 1928.
Every month this year except February established a
new high peak in sales.
To keep pace with the demand which such volume
reflects, Chevrolet's 10 assembly plants in the United States built 125,391
units, the second-highest July production in the history of the company.
This is only 3,059 units lower than the all-time single month's production
record, set in June.
World production in July inciuued 9,056 units shipped
overseas for assembly, and 2,476 units built in Canada, making a grand
total of 136,933 for the month.
Chevrolet retail sales
units, the highest
Buick Retail Sales—
totaled 14,724 in July, the largest for this month
with 6,002 in July. 1935, an increase of 145%.
the June total of 16,354 units,
"Buick automobiles accounted for more than one-fourth of the gain in
registrations of all new cars priced at $700 and up during the first , six
months, compared with a year ago," W. F. .Hufstader, sales manager,
stated.
"Of a net gain of 181,200 units, or 45.1%, reported by this price
group as a whole, compared with the first six months of 1935, Buick ac¬
counted for 47,900 units, an increase of 140%."
Retail sales of Buick cars
seven years, and compared
Sales were off only 10% from
in
in July totaled 16,574, compared with 22,614
13,289 in July. 1935.
Retail sales since Jan. 1 total 112,076
compared with 95,694 in the corresponding 1935 period.
Used car sales totaled 31.235 in July, an increase of 30% compared with
cars,
sold. This is a larger percentage
sales, which were 24.7% ahead of a
than was shown in new car
increase
year
when 24,039 vehicles were
1935,
July,
ago.—V. 143, p. 757.
Corp. (& Subs.)—Earnings—
General Telephone
Period Ended June 30—
Total operating revenues
Maintenance
Depreciation
- -
-:
-
Other operating expenses
State, local & miscell. taxes
Federal income tax
Net operating
,
$1,615,324
income. -
Other income—Net
_
1936—6 Afos.—1935
12 Mos. '36
$5,802,588
$5,400,831 $11,463,969
923,627
1,990,808
1,014,589
939,677
2,014,288
1,010,345
1,526,693
x3,2$2,194
1,585,801
348,662
913,713
466,955
30,408
127,422
109,574
_;
$1,631,764
14,401
$3,135,544
31,389
,646,165
777,253
6,787
41,473
CY4.288
211,391
$3,166,933
1,428,260
11,897
90,405
Cr 17,119
441,124
48,005
20,306
7,524
18,048
....
42,885
18,682
malting facilities about Oct. 1; 1936.
Authorized
140.000 shs.
x560,000 shs.
Capitalization
Preferred stock ($15 par)..
.
July Sales—
Pontiac
Retail sales of Pontiac cars
in June and
unit in Milwaukee County
new
#
»
Common stock ($1 par)
—
—„
x 140,000 shares of common stock
are reserved for
preferred stock.
'
-
Outstanding
Year
Fiscal
1935
April 30 '36
Interest during
$7,132,673
Provision for deprec'n..
5,932,029
30,111
56,347
7,752,844
38,427
59,556
$6,327,205
4,829,778
43,958
44,380
Taxes, real and personal
property.-—
22,681
34,435
16,434
Maintenance and repairs
$1,868,920
795,281
24,119
41,613
12,809
29,472
33,053
185,948
424,834
321,289
130,000
179,787
7,000
Cr5,004
future by Federal and (or) State
x Includes
$218,431 expense
be decided on by the companies based upon studies made
by the companies or upon depreciation rates which may be prescribed in the
ments which may
$829,913
20,825
$627,369
60,866
$927,267
6,683
53,381
8,205
$688,235
2,188
$673,392
$908,314
18,954
$850,738
$657,538
15,854
Total gross income.
Non-recurring expenses.
113.405
121,073
84,035
'
j;
«
-
10.525
Interest.
68,606
Other deductions
Fed'l income and capital
stock taxes (estimated)
'
'•
-
■
■
36,443
31,492
1,866
German General Electric
:
♦
'
40,000
42,204
50^045
36,926
$525,469
$624,335
$686,012
$499,338
'
For the
11
taxes were
...
months ended June 30,
1936, profits after depreciation and
$7.51,268.
Comparative Balance Sheet
Assets—
Apr. 30 '36 July SI '35
Cash..
Notes
&
$213,705
$211,725
receivable—-net.
I nventories
....
Fixed assets—net.
Deferred charges
__
Other assets
Liabilities—
1,395,778
1T69 4,912
1,442,434
67,085
183,715
1,439,494
1,862,932
1,451,523
84,336
102,552
Apr. 30 '36
Bank loans
Notes
accounts
to
stockholder
Accts.
pay
.—trade
curr.
llabils.
186,803
231,178
46,055
100,000
1 65,811
res.
Preferred stock...
Common
stock...
Earned surplus.__
6 Months Ended June 30—;
Total operating revenues—
218,858
32,518
Wis. Unemploym't
compensat'n
General Water Gas & Electric Co.
•
______
Accrued accounts.
Other
July 31 '35
$500,000 $1,100,000
payable
2,100,000
420,000
1,513,593
...$4,997,629 $5,152,564
1936
$1,719,364
672,867
—
.
Taxes (other
79,907
150,157
$803,991
34,740
$822,949
78,129
,731
167,213
$901,078
183,071
$671,518
than Federal income tax)
63,458
162,598
!_
Maintenance
2,100,000
420,000
Net oper. revs,
before prov. for deprec. & deplet.
Otber income
—.—
--
$718,007
254,252
1,112,451
Total,........$4,997,629 $5,152 564
._i.
Provision for depreciation
and depletion.
-V. 143, p. 586.
Gross corporate income
General American Investors Co., Inc.—Personnel—
The company
has notified the New York Stock Exchange of the resigna¬
1936:
Raymond D. McGrath, Vice-Pres.; Allan S. Lehman, Vice-Pres.; Monroe
C. Gutman, Sec. & Asst. Treas.; Walter B. Kahn, Asst. Sec.; Edwin Gibbs,
tion of the following officers, as of July 23,
Asst. Sec.
advised the Exchange of the appointment of Percy H.
Asst. Treas., as of May 13, 1936, and the appointment of
D. McGrath as Sec., Harry G. Friedman as Vice-Pres., and
Albert J. Hettinger Jr., as Vice-Pres., as of July 23, 1936.—V. 143, p. 271.
The company also
Buchanan
as
Raymond
American
General
Called—
Transportation Corp.—Certificates
•
Bank of the City of New York
as trustee
principal amount and accrued dividends plus a premium of %
such principal amount
date of maturity
Interest
on
subsidiaries' funded debt
Interest
on
unfunded debt
Amortiz. of subs, debt & pref. stk.
—
disct. & expense
Provision for amortization of deferred charges
Dividends
Interest
subsidiaries' preferred stocks
15-year 5% 1st lien & coil, trust bonds,
1943
on
on
of 1% of
for each six months between Sept. 1, 1936 and the
Holders ipay obtain payment a,t the
of the certificates.
34,670
144,986
26,122
dividends & surplus.$158,203
$197,918
$2.07
$1.73
0.20
0.15
Provision for Federal income tax
Earned per share:
J
$3 pref. stk. (avge. number of
Common stock
22,069
23,587
14,400
144,677
(estimated)31,419
series A, due June 1,
Net income available for
261,087
1,577
18,525
14,985
41,043
shs. outstanding).
*
--
—
for both periods are stated after deducting
the event that
the Appellate
Division of the Supreme Court of the State of New York adverse to Con¬
solidated Water Co. of Utica, N. Y., a subsidiary, are upheld on appeal
now pending.
Effect has also been given to the resultant reduction in the
Note—The operating revenues
announced
that $6,460,000 principal amount of equipment trust certificates, series A,
dated as of March 1, 1931, will be redeemed on Sept. 1, 1936, at their
The Chase National
'1935
$1,670,885
634,320
2,925
Total income
Total
(& Subs.)—Earnings
.
Operation
•
_
company,
announced that a
•
income
Co.—Reorganization Plan—
which has been working at a loss for some years, has
reorganization plan will be submitted on Aug. 21 at an
extraordinary general meeting of its shareholders.
It is stajed that the plan will provide for reducing the company's capital
stock from 185,000,000 reichsmarks to 62,000,000 and raising not more
than 120,000,000 marks new capital.
New ordinary shares will be issued
at 103 under the plan.
In addition the company plans to issue 25,000,000
reichsmarks of debentures which will be taken up by a large bank group.
As part of the transaction the present profit and loss deficit of 57,000,000
marks will disappear and a reserve of 6,000,000 marks be created.—
V. 138, p. 3272. •
•
V
,
V::
The
97,397
.
(estd.)..-
Net income
regulatory bodies.
of holding companies of which $91,222 is
of estate of Associated Telephone Utilities Co., debtor, for period
July 1 to July 17,1935. A substantial portion of this amount is of an extra or-,
dinary, nature incidental to the reorganization and is not indicative of
what such expenses will normally amount to for a like period in the case of
General Telephone Corp.
The operating expenses of General Telephone
Corp. from July 17, 1935 to date amount to $114,100.—-V. 143, p. 757.
expense
j.—
Minn,
$861,046
for depreciation recorded
depreciation deducted from earnings are not so large as the amounts de¬
and are subject to any adjust¬
salas
of malt.
and
$1,081,585
220,539
ducted in the Federal income tax returns
94,071
exps.
charged
grain department—_
and surtaxes
69,214
companies' books do not purport to represent the amount of depre¬
ciation sustained during the period or accrued to date.
The provisions for
Elevator
Wis.
$537,714 ;
$>021,182
—
Note—The annual provisions and the reserves
26,167
Prov. for doubtful accts.
Other income.
_—
_
$537,714
$631,451
110,269
Net income
348,235
59,566
exps..
from
6,571
General Telephone Corp. pref. divs..
Income balance.
_
inc.
_
in the
(excl. of grain
department)
- Selling, general and ad-
Gross
sub. cos.
of sub. cos
Minority int. in current earnings
Other fixed charges. —... ... .
Bonuses
administrative
3,237
43,522
C'rl 0,740
218,213
34,607
20,620
& exp.
construction—
Declared pref. stock di v. of
Undeclared pref. stock div.
Ended July 31
1934
1933
$9,263,552
Gross sales (less freight).
Cost of malt sold.
685,891
funded debt
Amortization of debt discount
.
Income Account for Stated Periods
9 Mos. End.
on
Other interest
the conversion of
.
$1,633,372
Net earnings
Interest
140,000 shs.
420,00.0 shs.
$60,000 in respect of estimated reduction which will result in
rate case decisions of the Public Service Commission and
provision for Federal income tax.
Volume
143
Financial
Chronicle
Consolidated Balance Sheet Jan. 30, 1936
Assets—
Liabilities—
Fixed capital
Miscell. invest'ts at cost
Reacquired
x.?23, 453,145
82,000
—
504,063
458,214
Prov. for Fed. inc. tax (est.)
Acer. divs. on pf. stks. of subs
57,063
101,868
,
April
10,199
payable July 1, 1936
Mktable secur. at book values
Accts. & notes receiv., less res
283,379
417,120
Other
Unbilled
113,927
Consumers'& other deposits.
171,256
3,352
Unadjusted credits
114,846
5,027
51,112
Res. for rate reduct'n in litig.
Reserves for contingencies, &c
350,000
242,254
998,636
Pf. stks. of subs.-publicly held
1,314,950
revenue—estimated
Inventories
...
Accts. receiv.—non-current.
Prepaid
57,063
_
expenses
Deferred charges....
Subs, funded debt matured
or
called for redemption
6,733
current liabilities
Minority interest in
common
stock & surplus of subs
$3
cum.
12,339
preferred stock
Common stock
y3,818,605
(par SI)
217,615
2,995,707
•_
Paid in and capital surplus..
Earned surplus..,
•
Total
x
......
After
reserve
for
resented by 76,372
.$26,629,0601
370,036
Total.
$26,629,060
depreciation
and depletion of $4,667,546.
shares.—V. 143, p. 111.
-
no par
Gilbert Klinck Brewery
May
June...
July---t-V. 143, p. 272.
53,428
y
Rep¬
•
Corp,—Withdrawal of Registrar n
The Securities and Exchange Commission
upon the request of the com¬
July 27, 1936, has consented to the withdrawal of the
registration statement.—V. 143, p. 111.
Assets—
$1,522,040
14,251,504
U. S. Government bonds
State,
railroad
and
other
12,740,454
1,538,934
*
Prems. in
more
course of coll., not
than 3 months due..
7,456,690
uncollected premiums
654,206
Res. for taxes & sundry accts.
596,500
Reserve for losses incurred but
3,370,499
207,306
Interest & rents due &accr'd.
Sundry balances due....
not reported
Voluntary
615,811
2,200,000
Capital......
.............
Surplus
Great Dike Gold Mines, Inc.—Stock Sale
Stopped—
stop order suspending the effectiveness of the
registration statement
by the Securities and Exchange Commission
5.
The Commission found that the statement
contained untrue
statements of material facts and omitted to state material
facts required.
The statement was filed on
April 16 and became effective on
Aug.
May 6
to cover a
proposed public issue of 250,000 shares of common stock at $1
acquisition and development of the Shaw Mine.—V. 142,
per share for the
p. 2996.
Great Lakes Towing Co.—$2.50
Preferred Dividend—
The directors have declared a dividend of
$2.50 per share on the 7%
non-cumulative preferred stock, par $100,
payable Aug. 31 to holders of
record Aug. 20.
This will be the first dividend paid since Jan. 25,
$34.246,551
2,197,346
2,500,000
Total
.834,246,551
Note—On the basis of June 30, 1936 market
quotations for all bonds and
owned, this company's total admitted assets would be increased
to
$35,257,776 and the voluntary reserve for contingencies, including
fluctuation in market value of securities to $3,208,571.—V. 142,
p. 785.
Mines, Ltd.—Earnings—
'
-3 Mos. Ended-
-
.
Period—
Mar. 31
Total tons milled
...
—
Greater London & Counties Trusts,
(B.
13,501
Total
^
0.024
—.
0.04.3
.
89.0
new
a
$41,891
David M.
$79,558
£721,695
269,663
269,953
271,520
138,405
108,534
1,960
135,545
90,267
£232,736
£222,400
184,821
143,231
444,'435
288.166
156,905
131,622
£278,943
4022.
1936
...
The
with
2,521,571
2,514,305
2,625.257
2,383,537
2,157,556
..............
'.
,
131 stores
2,229,407
2,048.810
2,411,795
had 129 stores in operation during'July
in July, 1935.—V. 143,
p. 272.
company
.
Gulf
on
compared
as
Pref Stock
.
Power
Co .—Earnings—
v
[A subsidiary of the Commonwealth & Southern Corp.]
1936—Month—1935
1936—12 Mos.—1935
Gross revenue.-. —$126,910
$110,622
$1,361,689
$1,170,305
Oper. expenses & taxes.
82,275
68,054
878,158
738,660
Prov. for retire, res've..
8,000
5,500
81,000
52,500
Int. & other fixed chgs.
17,229
16,597
207,087
198,766
Divs. on pref. stock——
5.584
5,584
67,014
67,049
Goodrich. Chairman of
Period End. June'AO—
Balance
-V.
143,
$13,821
p.
Gulf States Utilities
Gross earnings.
Operatio n
—
—
——
Balance
1936—12 Mos —1935
$528,176
209,718
21,640
45,864
89,867
$204,394
Appropriation for retirement reserve.
—.
$5,838,442
1,077,931
1,081,762
$161,084
19,750
48,460
89,795
—
Interest & amortization.
$1,520,936
750,000
567,183
$1,487,623
686,833
$203,752
$233,606
Preferred di vidend requirements
2,471,757
226,797
541,018
Balance for common dividends and surplus
hold of preferred stock."
-V.
$113,328
Co.—Earnings-
$594,144
231,743
_—
—;
_
$128,429
1936—Month—1935
— ——
Maintenance-
Taxes.
$14,885
430.
Period End. June AO—
time, the board believes
through removing obstacles
now
•
.
The'directors have declared a dividend of $1 per share on the
$6 conv.
preferred stock, no par value, payable Aug. 15 to holders of record
Aug. 3.
A like payment was made on May 15, last and
compares with $1.11 paid on
March 2, last; 50 cents paid on Jan. 6, last; $1 per share
paid on Nov. 1,
1935: 75 cents paid on Aug. 1, 1935, and 50 cents per share
distributed on
May 1. 1935, this latter being the initial payment on the pref. stock.—V. 142
p.
2996.
'
The preferred stockholders should also bear in mind
after the consummation of the plan, they will themselves own one-
they
$1,609,115
1,981,446
Greenfield Tap & Die Corp.—$1 Dividend
same
the plan would also benefit the common stock
.... .
1935
$1,867,874
2,043,153
........
.
July 21. will be
Sept. 9.
The plan
on
they
as
34,953
______
net income
.... .
to dividends thereon.
stock
£749,629
_
...
June. .1..... ..wj:
July. .r
;..-v
1.4 shares of new preferred stock and one-half share of common stock in
lieu of each share of their present preferred stock and its appurtenant
rights.
If the present situation were to remain unchanged, it might
require a number
of years for the preferred stockholders to realize as great a benefit as
common
—
May
receipt of
At the
-
March.
share, it is pointed out.
The redemption price of the
will be $140 plus any accrued and
unpaid
shares of
£1,009,861
shs. of sub. &
controlled cos.
Surplus net income of props, prior to
acquisition
.'
Net inc. accruing to minor. ints__i
.
as many
£1,055,249
305,619
£837,135
fund, debt
on
Month of—
"The board of directors believes that the position of the
preferred stock¬
holders will be greatly improved under the plan through their
that,
£974,907
February
1935, was only $969,063.
"Since dividends," Mr. Goodrich said, "may be paid and preferred stock
acquired for retirement only from earned surplus, it is apparent that it
would be impossible for the company now to pay the accumulated
arrearages
of dividends and to satisfy the accrued deficit under the retirement
pro¬
visions of the preferred stock.
The growing volume of the company's
business and the higher costs of both materials and labor require an increas¬
ing amount of Working capital.
Even under favorable circumstances, it
must be anticipated that the company would not be in a
position to dis¬
charge these arrearages in full for a number of years to come.
half
£1,015,785
39,464
£1,205,492
368,356
...
Balance
Divs. on preference
preferred
obtain under the plan.
188,008
186,520
530,114
April...
$37,666
...
A letter sent to the stockholders by
now
£4,276,404
1,097,436
1,431,572
(H. L.) Green Co., Inc.—Sales-—
$326,111
246,553
the Board, points out that the plan will benefit the common
stockholders,
since it will remove obstacles to the payment of dividends on this issue.
The letter points out that the consolidated earned
surplus on Dec. 31,
should
—
£1,169,938
35,553
:
Other deducts., incl. int.
91.0
$165,026
123,134
stock.
of
—1_
229,787
191,706
575,126
"
----
Non-operating income (net)
0.034
93.5
$161,085
123,419
Under the plan, holders of the present $7 preferred will receive for each
new preferred, entitled to $5 annual
dividends, and also
one-half share of common stock.
Total dividends on the 1.4 sharas of new
shares
'
1,184,944
,
...
Net operating income
Total
share 1.4 shares of
1.4
£3,105,373
1,384,099
,—
-V. 142, pr
acted upon by the stockholders at a special meeting on
provides for the readjustment of the capital stock structure to take care of
the present $10,300,780 total arrearage, equal to $35 a share, in
preferred
dividends, and to remove the annual retirement requirement of the present
preferred stock through the creation of a new class of preferred stock and
through the exchange of the present preferred into new preferred and
preferred will be $7
£2,746,815
1,529,588
0.377
F.) Goodrich Co.—Capital Readjustment Plan—
dividends.
1934
£2,918,878
186,495
£3,550,657
Depreciation
147.6
0.392
The recapitalization plan, approved by the directors
common
1935
£3,319,635
231,022
Operating expense—current
Operating expense—contracting.^..^.
Maintenance....
Taxes, excl. of income tax
26,871
148.4
0.362
Net operating profit
payments
Ltd.—Earniugs—
1936
.
'36 June 30 '36 June 30 '36
13,370.
.....
—
no
[Including subsidiary and controlled companies]
Provision for income tax.-----...
6 Mos. End.
146.9
:
Prior to this latter date
31, 1931, when a regular quarterly dividend of
$1.75 per share and an adjustment dividend of 50 cents
per share were
distributed.—V. 138, p. 333.
5,000,000
stocks
Average daily tonnage.
Average head assay (ounces)
Average tail assay.
Percentage recovery
Total production-.....
Total operating costs
1934,
when $1 per share was distributed.
had been made since Dec.
/Net income-
God's Lake Gold
5,771,013
gencies, incl. fluctuation in
market value of securities.
Total
6,509,624
Provisions for retirements
for contin¬
reserve
6.552.836
7.347,316
5,735,776
$13,641,807
Reserve for unearned prems.
for commissions on
Reserve
bonds and stocks
Real estate
5,136,563
6,267,376
A
revenue—contracting
Reserve for claims.
$4,492,044
7.179.255
7.654,459
6,277,423
Gross operating revenue—current
Gross operating
Liabilities—
•
Cash in office and banks
1933
$4,550,096
6,774,303
5,951,919
7,662,787
7,429,574
12 Months Ended March 31—
-Balance Sheet June 30,1936—-
1934
$5,578,375
6,953,195
of the
company was announced
pany received on
Globe Indemnity Co.
1935
$5,753,923
6,475,347
7,648,879
8.328,257
8,371,061
7,074.988
March
228,831
$3 pref. stock.
pay. on
1936
February
70,154
Divs.
—
Cash in banks & on hand
Cash on deposit for dividend
Month of—
.$16,659,400
....
Accounts payable
Accrued interest and taxes.._
secur., par value.
Special deposits..
Funded debt.
35,789
923
(W. T.) Grant Co.—Sales—
$5,751,092
2,401,984
234,583
545,138
567,182
143, p. 273.
Offering Date Postponed—
The company has filed
amendment with the Securities and Exchange
Commission postponing the proposed offering date of its $28,000,000 4
1st mtge. bonds, series A, to Aug. 21.-—V. 143, p. 588.
an
Goodall Worsted Co.— To
The directors have declared
Pay $2 Dividend—
distributed.
paid $3 per share on the stock.—V. 141,
p.
In 1930 the company
4167.
_
Federal taxes...
-V.
F.
Brandon, receiver, will offer at public sale on the premises in
Township, Indiana County, Pa., on Sept. 10, all the assets both
real and personal, of the company, by order of the Court of Common
Pleas
of Indiana County, dated July 13, 1936.
Center
-
Balance
Other income-.
—
—
Total income..
1935
1934
1933
$3,651,336
$2,878,946
$2,262,972
4,532,000
3,305,907
2,664,031
2,245,439
$104,678
7,439
$345,428
15,248
$214,915
9,612
$17,533
13,221
$112,118
$360,677
$224,527
$30,754
6,674
48,303
24,282
x$105,444
$312,373
$200,245
—
tion, &c._
Special charges, includ¬
ing Federal taxes
/_
Net profit
$1,871.248
1933
$1.791.660
7,890
8,273
10,180
355,921
957,356
380,714
139,976
_
137,694
*
1,007,505
356,858
■:
_
1,009,661
356,690
141,497
997,244
144,016
—
53,027
46,318
42,810
50,178
$453,604
$465,156
$458,537
$388,770
_
—
1934
_
_
142, p. 3346.
Hamilton
Two
Mfg.
Co.,
$1,300,000 5 % Bonds—
Rivers,
Wis.—To
Issue
The company has filed a registration statement with the Securities and
City Steel Co.—Earnings—
6 Mos. End. June 30—
1936
Sales billed
$4,636,678
Costs,
exps.,
deprecia¬
x
charges (net)
Depreciation. i
'
1935
$ 1,862,067
5,958
—
Interest
(& Subs.)- -Earnings—
1936
$1,900,195
Balance avail, for divs.
Graceton Coal & Coke Co.—Receiver's Sale—
Granite
—
ducts. for int., deprec.
and Federal taxes)
a
since 1931, when 75 cents per share was
p.
6 Mos. End. June 30—
Gross oper. revenue.
Gross non-oper. revenue
Net earnings (before de¬
dividend of $2 per share on the common
stock, payable Aug. 15 to holders of record Aug. 5.
A dividend of $1 per
share was paid on Nov. 1, 1935, this latter being the first payment made
M.
Hackensack Water Co.
•
Provision for Federal tax
on
3171,1817.
Exchange Commission covering $1,300,000 5% first mortgage sinking fund
bonds, 39,383shares of class A preferential participating stock, 24,236
shares of common stock and stock purchase warrants
calling for 13,000
shares of class A and (or) common stock.
According to the statement, of the bonds being registered $1,100,000
to be presently offered by company on a par for
par exchange basis to
first mortgage sinking fund gold bonds due
April 1, 1941 which are expected to be called for redemption on Oct. 1,
are
holders of its outstanding 6%
1936 at
102
The company
holders
4-10 of
is offering to its class A preferential participating stock¬
Aug. 19, 1936, the right to purchase at $10 per share
of record
a
share of
common
and
65-100ths of
a
share of class A preferential
participating stock, the issues being registered, for each share held.
War¬
calling for an aggregate of 11,000 shares of either class of stock are
rants
$30,754
undistributed profits unnecessary.—V. 142.
to
be attached to the bonds.
Sills,
Troxell & Minton,
purchase $1,100,000 of the
Inc.,
new
the principal underwriter, has agreed to
5% bonds at 97 XA.—V. 139, p. 2206.
Financial
924
Hercules Powder Co.,
Co.—Extra Dividend—
(P. H.) Hanes Knitting
Aug.
Chronicle
elected Charles A. Bigelow a
Mr.
Harbison-Walker Refractories Co.—Dividend Doubled—
declared a dividend of 50 cents per share on the
stock, no par value, payable Sept. 1 to holders of record Aug. 14.
This compares with dividends of 25 cents per share distributed each three
months from June 1, 1934 to and incl. June 1, last.
In addition an extra
dividend of 12M cents per share was paid on June 1 and March 2, last.
Bigelow.
Balance Sheet June 30
^
The directors on Aug. 3
1936
1936
$
Assets—
1935
$
1935
$
common
$
Liabilities—
.15,155,850 15,155,850
x Common stock
y Plants and prop .15,894,761 16,400,277
9,619,400 11,424,100
5,008,661 ^Preferred stock __
Cash
4,034,704
509,661
a834,879
3,050,180 Accounts payable
Accts. receivable., 3,340,607
184,686
153,104
Preferred divs___
z Treasury stock..
1,687,807
1,679,309
_
.
588.
143, p.
Inc.—Executive Changes—
monthly meeting held July 29 the board of directors
Vice-President and a member or the Exectuive
Committee.
At the same meeting, Mahlon George Milhken, General
Manager of the Cellulose Products Department, was elected a director;
and William Robert Ellis, now Assistant General Manager of the explosives
department, was named General Manager, taking the place vacated by
their regular
At
declared an extra dividend of 10 cents per share in
addition to the regular quarterly dividend of 12cents per share on the
common and class B common stock (both $5 par), all payable Sept. 1 to
holders of record Aug. 20. Similar payments were made on Nov. 30, 1935.
—V. 141, P. 3074.'
The directors have
—Y.
1936
8,
.
.
_
,
Co.—Earnings-
Harrisburg Gas
Operating revenue.-------
1934
$1,165,103
671,816
$1,207,146
663,274
45,719
58,255
35,608
4,898
34,833
—
—
Ordinary expenses.
Maintenance
38,025
60,357
34,761
—
& replacements
Prov. for renewals
Prov. for Federal income taxes
Prov. for other Federal taxes - -;—
—
Provision for other taxes
Inv. in assoc. cos..
-
Preferred dividends
—
dividends
Common
—
----•
2,936,747
.
94,913
Liabilities—
1934
1935
Assets—
87,599
Capital stock..
Prop., plant & eq.S 5,778,916 56,750,535
Investments
~37~626
Customers
tension
101
(cust'r)recelvable.
I~8~8~3l6
Mat'ls & supplies.
52,969
165,834
52,055
130,621
95,445
153,242
105,047
Note rec.
*
&
ex¬
deposits
Accounts payableDivs.
payable, pref
Accrued accounts-
Constr. advs. coll.
Reserves
—purchased gas
facilities
charges.
Deferred
$3,459,500 $3,459,500
2,200,000
2,200,000
110,000
110,000
-
Notes & loans pay.
8,750
65,834
Cash
Accts.
debt
Funded
1
_—-
deposit.. _
Special
a
Includes
accrued
accounts.
comparative income statement
published in V. 143, p. 588.
Our usual
was
Earned surplus.—
for the six months ended June 30
Co.— Earnings—
Hinde & Dauch Paper
6 Months Ended June 30—
Net profit after
,
$543,001
$1.26
$1.19
hand June 30, 1936 amounted to $1,111,029.
all charges._
$568,365
----
Earnings per share on 360,000 shares
The
company's cash on
30 total $4,387,180 against current
73,281
859,067
484,446
undistributed earnings.
"The outlook for continued volume
excellent."—V. 142, p. 1470.
Sidney Frohman, Prasident, says,
business this year is
130,
P.
$7,320,848 57,264,444
$162,865
53,409
10,077
advised the Havana Stock Exchange that it will not pay
due Aug. 1 on its 5% bonds of 1952.—V. 143, p. 273.
4,581
30,310
—
(other than Federal income)—
Earnings from operations
Co.—Wo Interest—
Havana Electric Ry.
1935
.
-—
Provision for retirements.
Taxes
3349.
of
Hingham Water Co.—Earnings—
Calendar Years—
Operating revenues
General operations
Maintenance
Total.-...
$7,320,848 57,264,444
Total
-V.
liabilities of
Net working capital as of June 30
with $3,545,974 at the beginning
of the year.
During the six months period the company has paid, or pro¬
vided for, preferred dividends of $147,481 and common dividends of $288,000.
Provision for Federal income taxes has been increased to provide
for the new tax on
35,536
33,864
8,750
31,405
32,801
" 8,750
103,021
891,883
483,487
40,691,413 42,264,659
Total
Represented by 606,234 (no par) shares. , y After reserve for depre¬
1936 ($14,212,930 in 1935). z Consists of 8,706
shares of preferred and 22,355 in 1936 (22,595 in 1934), shares of common,
x
ciation of $14,348,507 in
$751,286, giving a current ratio of 5.84.
amounted to $3,635,894 which compares
1934
1935
_
5,000,000
Current assets as of June
Balance Sheet Dec. 31
23,425
534,400
3,904,470
3,729,146
Profit and loss— .10,476,235 10,528,065
Reserves
40,691,413 42,264,659
Total
37,820
684,979
.
Federal taxes(est. )
1,134,641
3,139,918
3,442,516
5,000,000
Goodwill
$418,637
110,000
6,204
1,477
2,242
$298,713
35,000
220,976
.
Deferred charges..
'
Net income
.
Finished products.
,
$214,625
35,000
179,543
funded debt
unfunded debt—
Miscellaneous interest
Amortization of debt discount & expense
on
89,771
2,508,739
1,171,677
3,275,484
3,410,221
.
Mat'l <fc supplies..
$401,296
17,341
,
$333,877
110,000
5,521
1,489
•.
2,241
income
Gross
Interest
Interest on
U. 8. Govt. sees..
4,589
4,843
$313,973
19,904
Operating income
Non-operating income
70,615
Deferred credits
286,540
Other assets.
1935
Calendar Years—;
210,382
securities.
Invest,
income
Other
$64,488
—
4,864
—
1934
$165,698.
63,217
9,304
5,608
27,200
$60,368
4,356
The company
its coupon
Sales to other gas
Total
gross
revenues
$55,880
558,256
Taxes
.
charges
Net income
Earned surplus,
Jan. 1__,
Total surplus..
$96,124
586,274
$644,743
86,485
$682,398
110,565
35,000
Retirement reserve accrual
Interest
$72,909
571,833
$614,137
58,968
Maintenance—
$576,080
358,921
22,742
35,000
83,250
3,256
$588,178
87,790
2,765
...
...
__
75,360
5,916
Dr\2'6
$564,134
358,719
23,980
companies._______
Merchandising and jobbing revs, (net)
Miscellaneous and non-operating
Operation.
1933
$511,061
1934
$494,927
74,511
4,682
605
Sales to ultimate consumers
...
_
Dividends declared
,
73,475
2,772
869
3,470
Dec. 31
$571,833
$558,256
$555,169
...
Net income
—V.
1935
Assets—
Plant &
23,049
Cash
Acc'ts receivable..
147,782
18,597
157,875
75,346
Prepayments
Accounts payable-
3,732
73,131
6,165
plies..
Consumers* deps_.
Miscell. liabilities
reserve.
Contrib. for exten.
Operating reserves
Unadjust. creditsEarned surplus
Total
-V.
$2,660,160 $2,652,429
143,
p.
,228,500 $1,228,500
260,910
260,910
100,000
85,000
27,630
28,231
19,863
19,649 *
168
539
5,665
464,851
4,476
5,017
2,522
555,169
7,909
438,866
3,512
2,815
3,624
558,256
-.-.$2,660,160 $2,652,429
Total
588.
Hazel-Atlas Glass Co.
Years Ended—
Net sales, royalties, &c.f operating revenue
$22,520,534
Cost of goods sold, maint., royalties, taxes, &c-._ 16,637,339
id depletion.
Provision for depreciation and de
679,035
Gross manufacturing profit
Selling, general and administrative
$30,816,470
24,269,903
724,930
$5,204,161
2,217,610
$5,821,638
2,690,059
$2,986,551
261,488
expense
the $1.80
cum.
Hobart
Mfg. Co. (& Subs.)- -Earnings
6 Mos. End. June 30—
Cost of goods sold
gen. expenses.-
Income charges,
$3,473,186
1,651,985
1,411,952
$3,131,579
266,274
Cr81,128
160,940
9,190
569
3,630
$328,866
149,877
b$1.18
$205,258
403.090
a$1.04
Minority interest--Net
income-. —$424,598
Cash dividend paid
149,945
per
operating profit
$2,075,547
1,099,948
764,986
Cr62,961
64,686
1933
$1,373,036
843,146
581,614
Cr40,644
50,762
conver¬
sion of for'n sub. accts.
Earnings
1934
1935
1936
$4,166,900
1,968,730
1,616,284
Cr75,738
223,835
sales..
c$1.49
share.-
CY85.044
4,082
$19,120
48,796
a$0.12
stock (no par).
b Equivalent under
the shares to $1.18 a share on 200,000 nopar shares of class A stock and 93 cents a share on 100,000 no'par shares of
class B stock.
The class B stock is all owned by International Business
Machines Corp., having been issued for certain property and assets of the
Dayton Scale Division of that company.
Dayton Scale Co. was acquired
as of June 30,
1934.
c Equivalent under the participating provisions of
the shares to $1.49 a share on 200,000 no-par shares of class A stock and
$1.24 a share on 100,000 no-par shares of class B stock.—Y. 142, p. 1988.
a
On old 200,000 shares of common
the participating provisions of
Co.—$2 Extra Dividend—
to the regular
dividend of $2 per share in addition
the capital stock, par
.monthly dividend of $1 per share on
$100, both payable Aug. 25 to holders of record Aug.
20.
Similar distribu¬
The company paid
dividends of $1 per share each
month from Jan. 25, 1934, to and including June 25, 1934.
In addition
a special extra of $20 per share was paid on Dec. 5 last.—V. 143, p. 273.
tions were made in each of the 25
extra
preceding months.
dividends of $1 per share and regular
Hudson Motor Car Co.—July
Gross
Other income
share on account
partic. class A stock, no par value,
payable Sept. 1 to holders of record Aug. 11.
A like payment was made
on June 1, and March 2, last, and on Dec. 2, 1935, tnis latter being the
first payment made on the issue since June 1, 1933 when 15 cents was paid,
22 Yi cents per share were distributed each three months from June 1, 1932
to March 1, 1933, incl.
Prior to then regular quarterly dividends of 45
cents per share were disbursed.—V. 142, p. 2668.
The directors have declared an extra
June 29 '35 June 27 '36
75
(Henry} Holt & Co., Inc.—Class A Dividend—
Homestake Mining
(& Subs.)—Earnings—
■
$40,707
The directors have declared a dividend of 10 cents per
of accumulations on
Exch. loss from
.
Taxes accrued
Retlrem't
1934
1935
Capital stock ($25
par value)
Prem. on cap. stk.
Notes payable..
Materials and sup¬
$42,594
---
Other income credits
Liabilities—
1934
property.52,410,032 $2,396,875
513
„
.
141, p. 921.
Selling &
Comparative Balance Sheet Dec. 31
3,644
513
_.
Provision for Federal income tax
,
344,520
15,546
45,000
83,517
_
$64,725
19,784
3,601
funded debt
Amortization of debt discount & expense.
Net
Earned surplus,
on
Other interest
1935
$484,335
Years Ended Dec. 31—
$69,352
20,000
2,644
income
Gross
Interest
Haverhill Gas Light Co.—Earnings—
Sales—
Retail sales of Hudsons and Terraplanes
in the United States for
July
higher than for any July since 1929, according to William R. Tracy,
Vice-President in charge of sales.
"Sales to the public during July totaled 10,267 cars.
This is a gain of
45% over July of last year," stated Mr. Tracy.
"As we come into August
we are able to sense a demand for our cars which
promises an excellent
were
.
Total.—
______
$3,397,853
55,728
205,759
Miscellaneous charges
309,761
Provision for Federal income taxes (estimated)367,541
516,372
400,921
$3,248,039
______
Provision for doubtful accounts, contingencies, &c_
Loss on property retired-...
___
^
Net profit
$2,364,978
Net profit from sale of securities
xjincluding 65 shares treasury stock
_
$2,825,867
3,318,885
434,474
$6.50
-V. 142, p.
2997.
241,005
Operating expenses
Taxes accrued
14,420
35,157
84,454
Depreciation
Depletion
$609,476
214,305
39,553
22,991
66,963
1936—6 Mos.—1935
$1,058,411
452,075
28,380
59,595
158,266
$919,186
424,824
capital stock
142, p. 3376.
$265,662
$360,096
$255,781
$0,18
'
Line Co.]
1936—6 Mos.—1935
expenses
Income from oper
„_
$3,137,160
904,117
879,382
1,804,033
1,724,732
$624,097
40,387
$730,423
27,876
$1,333,126
105,400
$1,486,518
60,853
$664,484
and general
and taxes
1936—3 Mos.—1935
$1,528,214
$1,609,805
$758,300
$1,438,526
$1,547,371
232,146
308,469
279,377
296,220
566,825
612,907
540,260
*591,361
$123,867
Operations
$182,703
$258,793
$415,750
$3,211,2o0
Aband. leases & retirem't
int., amort. & Fed. tax
Deprec. and depletion.
_
42,583
133.845
$0.26
$0.36
$0.25
Earns, per sh. on 1,000,000 shs. of (par 25c.)
—V.
143, p. 758,
62,153
$183,436
Net income
[Including Houston Pipe
Period End. June 30—
Gross earnings
Total income
1936—3 Mos —1935
$558,472
_
balance of the summer."—V.
Houston Oil Co. of Texas—Earnings—
Other income credits.
Co.—Earning
Period End. June 30—
Gross income.
527,623
$2,416,524
2,172,045
434,474
$5.56
Capital shares outstanding.
Earnings per share
x
market through the
$2,298,244
51,546
Net profit for year
Dividends paid
Hecla Mining
126,588
Earns, per sh. on 1,098,618 shares common stock
Nil
$0.04
Nil-
$0.13
3% .
Earnings for 12 Months Ending June 30, 1936
Gross earnings from operations, $6,382,885; oper. & gen. expenses, incl.
taxes, $3,494,606; income from oper., $2,888,278; other income. $146,619;
x
Adjusted
as
of Jan. 1 1935 from 6% to
Volume
Financial
143
amount available for
897; interest
Federal in¬
tax, &c., $166,249; depreciation and depletion, $1,196,904; property
retired and abandoned, $500,212; net profit,
$689,833.
No deduction
made in above statements for surtax on undistributed profits.—V. 142,
come
P.3855.
Household Finance Corp. (&
Period End. June 30—
x
See list given on first page of this
Operating
Calendar
Gross income
Maintenance
1936—12 Mos.—1935
$6,070,057 $13,522,104 $12,176,626
3,291,689
7,266,657
7,121,213
3,442,518
Net inc. from oper'ns. $3,609,356
Other income credits
11,956
$5,055,412
33,44$
i,255,447
$2,778,367
16,741
$3 621,312
107,665
Interest paid
Subs.)—Earnings—
57,259
$5,088,855
262,677
$6,312,706
204,679
$2,795,108
104,846
Fed'l & Dominion taxes
(1936,
incl.
an
Depreciation
Taxes..
407,683
_1
429,828
Operating income.
Other income (net)
398,095
$771,896
...
$610,730
20,628
20,717
...
...
Total income......
Interest on funded debt.
$631,358
195,785
$792,613
.
195.395
_
18,769
10,650
18,807
$567,799
$106,908
Amortization of debt discount & expenseOther deductions
1.
u
.
Fed'l
1934
$3,073,043
1,581,972
78,670
403,575
_
9,858
estd.
the
,
1935
$3,467,994
1,773,816
84,769
Years—
revenue
Operation
1936—6 Albs.—1935
expenses...
with SEC—
department.—V. 143, p. 274.
Indiana General Service Co.—Earnings—
Operating
Gross inc. from operafns $7,051,874
925
Income Properties, Inc.—Registers
int., depreciation, depletion, & Federal taxes. $3,034,-
bonds and notes, $481,697; amortization and
on
Chronicle
amount
for
surtax on
undistributed
Net income
'
profits)
160.000
.
70,000
639
641
Minority int. in earnings
of subsidiary company
^
1,716
2,771
708,222
Cr70,000
1,057
1,172,805
385,000
12,327
383,219
784,942
....
Prov. for contingencies
Miscellaneous charges..
2,760
3,362
Balance Sheet Dec. 31, 1935
V'/' I
•A.SSets
Fixed capital
Mlscell. stocks & bonds
Special deposits
income
—
$2,565,291
$2,334,686
$4,534,531
$4,046,252
5,823,651
5,007,754
6,000,996
4,335,990
Balance at
beginning of
period....
,
the
Other
credit
from
special
temporeserve (proceeds
$3,907,900
471,754
500,000
435,318
receivable.
Materials and supplies.
Unamort. debt disc. & exp
•
due
bonds
1948.
Accounts payable (general)..
54,188
Federal securities.........—
Accounts
transfer
—
5%
mtge.
Jan. 1,
9
Cash.....................
Net
Liabilities—
1st
.$13,998,194
221,041
225,234
Taxes
Customers'
116,480
106,228
148,869
32,659
513,108
5,086
(affil. cos.)
Accounts payable
deposits
Interest accrued............
accrued
...
Other accrued accounts
Total.
200,000
...
$7,242,441 $10,535,527 $8,582,242
$8,388,943
........
of
net
Total
-...$15,946,834
Total
$15,946,834
-V 141,p.3692.
tangible
of subsidiary.
Partic. pref. stock div_.
Class A com. stock div..
372,226
372,226
10,415
1,005,012
325,145
275.796
793,998
744,176
576,696
Class B com. stk. divs..
571,042
593,422
1,605,572
1,260,373
asbets
1,196,249
Preferred stock ($100 par)...
...
Excess of purchase price
of cap. stks. over book
value
Common stock ($100 par).._
Unadjusted credits
41,095
Reserves
of insurance policies on
life of officer).
5,850
2,943,303
3,971,100
3,000,000
Surplus;
rary
Unadjusted debits
_
_
Indiana & Michigan Electric
Calendar
Co.—Earnings—
Bal. at end of
period. $7,120,529
$6,000,996
$7,120,529
5,000,996
$2,326,754
Operating income
Other income (net)....,.
8.04
7.00
7.10
599,052
586,123
:
stocks outstand¬
Amortization of debt discount & expense.__
ing at end of period...
586,123
Earns, per sh. of cl.A & B
com. stocks after sub¬
_.
$5.63
$5.89
$3.18
$3.66
Common dividend
__
Assets—
$3.39
six
the first
months of
1936
$5.09
$5.79
$2.91
of $1.75
per
share on the
$1,268,414, leaving $1,296,877 carried to earned surplus, which
compares with $993,242 carried to
earned surplus during the first six
months of 1935.
$
.
p.3678.
Accts.
(affll.
rec.
1936—-Month—-1935
p.
$6,242,130
6,463
4,381,922
56.755,719
16,461
Uncollec. oper. revenue-
4,366,897
1,082,467
Operating expenses
Operating taxes
143,
discount & exp.
Telephone Co.—Earnings—
756,113
1936—6 Mos —1935
$40,134,903 $37,218,530
97,863
47,723
26,788,553
26,986,871
6,300.106
4.537,134
$1,097,632
$1,289,894
$6,948,381
Unadjusted
debits
175,684
105,012
324,003
514,220
1,034,858
8,923
Unadjusted, creds.
84,034
339,137
528,602
1,073,643
9,364
20,503
Reserves
5,466,850
payable
(affll. cos.
Customers* deps..
accrued..
Interest
Taxes accrued
Other accrd. accts.
93,312
575,718
7%
pref.
stock
($100 par)
3,958,500
1,868,282
273,061
1,777,170
110,695
$
152,174
(general)
.
'
116,138
664,913
1934
•
payable
Accounts
debt
Unamortized
Period End. June 30—
j
companies)
' $
.25,483,000 25,483,000
debt
Accounts
1,753,882
2,627,600
657,082
1,872,636
3,125,368
750,941
MatLs. & supplies.
Net oper. income!...
31
Funded
5
Notes & accts. rec.
214,308
194,470
1935
Special deposits...
Federal securities.
277,095
Liabilities—
$
capital.... .44,464,361 44,167,665
Invests, in sub. cos
34,714
Contractual constr
17,210
Misc. stocks & bds.
8
1,008
Cash...
-
$802,907
277,095
214,308
1934
Fixed
Operating expenses include provisions for losses on instalment notes
receivable less recoveries on notes previously written off—Net amounts
as
follows: Six months ended June 30,
1936, $75,934; 1935, $332,828;
12 months ended June 30, 1936, $142,028; 1935, $1,220,748.—V. 142,
x
$1,111,520
579,809
Balance Sheet Dec
gated
-V.
..
......
.......
1935
preference stock and $1.50 on the class A and class B common stocks aggre¬
Operating revenues
_
-
<
rateof $5 per annum..
$2,192,385
1,274,150
91,112
24,215
......
com¬
Illinois Bell
_
.......
7% pref. dividend
6% pref.'dividend
puting maximum div.
on preference stock at
Dividends for
Other deductions
Net income..
tracting divs. declared
on preference stock for
period
Earns. per sh. of cl. A & B
133,933
$2,502,697
1,274,150
91,112
25,915
No. of shs. of class A & B
stocks after
$2,058,451
175,942
...
6.34
599,052
$3 per annum
com.
752,783
$19.02
$21.32
$10.51
$12.06
part of div. on prefer¬
ence stock at rate
of
com.
224,659
1,074,753
779,396
.
-
Taxes
pref.
cum.
275,702
1,092,593
Maintenance..
Depreciation
outstanding
Earns, times
1934
$6,451,907
2,341,260
i
Operating revenue, electric
Operation.
.
Earns, per sh. on 212,701
shs. of preference stock
1935
$6,953,586
2,479,140
Years—
pref.
stock
par)..... 3,571,800
x Common stock..
9,560,775
Surplus........ 2,651,058
x
$5,646,802
589.
3,958,500
6%
($100
3,571,800
9,560,775
2,608,668
Total........-52,899,442 52,052,332
...52,899,442 52,052,332
Total
28,983
4,677,903
Represented by 720,260 no par shares.—V. 138, p. 4466.
Indianapolis Water Co.—Bonds Called—
2,123
The company has issued a call for redemption on Sept. 1, 1936, of its
$1,102,000 first and refunding 5s of 1970, series of 1930, at 105; $786,000,
5Ms of 1954, series of 1924, at 102)4; and $4,500,000 first
and refunding 5J^s of 1953, series of 1923, at 102)4
The company recently
sold $13,827,000 of 3)4% bonds, due 1966, at par, proceeds of which are
to be used to redeem these bonds and additional indebtedness of the com¬
1,855
pany.
Imperial Royalties Co,---■Earnings--"'
Earnings for Period April 1, 1936, to June 30, 1936, Inclusive
$26,625
Income; Oil and gas sales
5,694
Osage headright distributions....
"
Lease rentals and bonuses
...
Syndicate distributions.
1- —
;
■
first and refunding
4
also announced that it has called for redemption on Jan. 1,
1937 all of the outstanding first & refunding mortgage 4)4% bonds, due
Jan. 1, 1940, and has deposited with the Bankers Trust Co., trustee, the
total amount necessary tor the payment of the bonds.
Payment will be
made at 104 and accrued interest, and holders may at their option receive
payment at this rate prior to the redemption date upon presentation of
their bonds at the New York office of Bankers Trust Co.—V. 143, p. 590.
The company
$36,298
6,366
Gross income
Administrative expense.
$29,931
Operating profit
174
Additions to income
$30,106
Total.
Taxes.
Net
International Match Corp.—Exchange Offer—
Ltd., in V. 143, p. 781.—-V .142, p. 4181
545
_
113
Production expense.
profit (before reserves)..
See Imco Participating Co.,
$29,447
—
Interstate
-V. 142,p. 626.
Telephone Co.—Earnings—
1935
Calendar Years—
-1935
1934
1933
$5,819,767
$5,670,177
$5,471,175
481,800
493,098
444,957
397,324
Ordinary dividends.....
4,961,792
4,961,792
3,307,861
------
$£69,345
514,767
1932
$5,843,944
dividends....
.
$725,227
539,723
Operating revenues
w
Operating expenses and taxes... —
Imperial Tobacco Co. of Canada, Ltd.:—Earnings—
3,307,861
Calendar Year—
x
Net
profit
Preferred
Net operating income..
$5,504
.—
Dr 37 7
earnings..1.
Interest and other deductions—
Net
x
After
all
charges
$364,877
$400,352
8,842,841
Balance, surplus.._c_
Profit and loss surplus...
and
8,500,488
expenses
$1,917,358
8,138,487
for management and
$1,765,990
7,875,059
providing
Net income...
for
_.....
__
income war tax.
..
1935
S
Assets—
Cash in banks
3 394,865
Dom. Govt, bds.-
127,948
.
$
5,423,312
4 295,252
Sundry debtors...
Stock In trade at
cost &
leaf
under...17, 633,208
11,688,344
3,098,467
1,612,570
1,605,625
furniture
&
tings (at cost).
681,787
212,360
3 010,140
.
249,418
Accr'd div.
on
803,000
pref¬
shares
A
_ — _ — _ .
120,450
8,842,841
..$4,691,602
equip., &c.
operating co.
51,161
not consolidated (at cost)
43,081
Miscellaneous Investments
9,623
Special
deposits
Debt discount & expense in
197,482
process of amortization
31,886
Prepaid accounts & pref. chgs
341,144
Cash (Incl. certificate of depj
v
1,374
Working funds.
....
28,578
a Accounts receivable
93,139
Materials and supplies
Tel. plant,
Invest. In sub.
_
120,450
8,500,488
a
-
patents....28 816,801 28,816,801
$885,838
1,196,000
stock
b Common stock.
1st
mtge.
series A,
5%
gold
bonds,
due April 1, 1961.
Accounts payable
Accrued
interest-
.
General taxes
Federal & State income taxes.
2,000,000
31,371
25,000
44,484
16,100
374
Miscellaneous current liabs..
Reserves
.......
.......
Capital surplus.....—
-
Surplus..
$5,489,071
.....
783,819
276,586
229,497
Nickel
"
'
stock,
no par
Co.
$5,489,071
b Represented by
of
Canada,
Ltd,—Dividend
'
3 declared a dividend of 35 cents per share op
value, payable Sept. 30 to holders of record Aug.
the
31.
June 30, last, 25 cents paid on March 31,
Dec. 31,1935; 20 cents on Sept. 30, 1935; 15 cents per share paid
This compares with 30 cents paid on
last, and on
of $8,687.
1405.
23,000 no par shares.—V. 139, p.
The directors on Aug.
70,912,565 70,382,609
Total
After reserve for uncollectible accounts
common
-V. 142, p. 1644.
—
Increased—
Total
$45,162
1935
86 cumul. pref.
._
International
70,912,565 70,382,609
109,057
$75,827
_
Liabilities—
'•': 'v"
t'PA/p.— '
Total
44.557
Prepaid taxes, in¬
surance, &c
G'dwill, tr.-marks
Total
2
803,000
2,842,785
29,895
635,139
682,170
Res.
for
bldgs.,
mach'y, &c
3,730,764
3,590,368
6% cum. pref. shs 8,030,000
8,030,000
Ordinary shares..47,255,160 47,255,160
Capital surplus...
101,579
101,579
Profit & loss acc't.
fit¬
$
414,836
income
tax..
erence
machinery,
Plant,
for
General reserve
bldgs.
(at cost)
and
16,766,571
61,203
Shares in other cos.
&
$
1934
402,651
731,973
Empl. benev. fund
ad vs. for
purchases..11 930,681
est.
Prov.
war
Sundry investm'ts
cost or
Liabilities—•
Creditors: Sub.cos.
Other creditors
96" 146
Inv. in sub. cos. at
Real
1935
$154,219
109,300
.—_. —
Balance Sheet Dec. 31
Balance Sheet, Dec. 31
1934
Dr359
$185,127
Other income (net)
926
Financial Chronicle
each Quarter from Sept. 29,
1934. to and incl. June 29. 1935, and 10 cents
per share paid on June 30 and March 31, 1934.
This latter was the first
payment made since Ilec. 31, 1931, when a regular quarterly dividend of
5 cents per share was disbursed.—V. 142, p. 3347.
KentuckySecurities Co.—Earnings—
[Successor
quarterly distributions of 31H cents per share previously.—V. 142,
Jamaica Public Service,
From Consolidated Coach
$68,400
8,633
Balance..
$247,376
—-
Common stockholders at
Interest
$238,220
$2,404
.
Balance Sheet Dec. 31, 1935
Jefferson Electric
Consolidated
Co.—Earnings—
x
Cash in bank..
—
...
Accrued
26,602
...
Marketable securities
1935
$917,680
403,383
104,668
...
$811,240
341,001
99,827
$409,629
42,025
expenses.
$370,412
29,029
1934
<
$451,654
53,437
55,455
$399,440
46,973
48,543
Keystone
Custodian
Dividend—
...
$342,762
239,800
120,000
$2.85
^
....
stock outstanding, no par
common
Earned per share
$303,924
179,700
Assets—
1935
Cash
$388,166
securs..;
Notes
a
receiv.
&
4,747
Other
(trade)..
202,366
curr.
assets
588,476
b
charges.
3,016
66,327
947,997
25,181
Prop., pl't & eq.
560,908
17,116
.
curr.
Res.for
o
In v. & advances.,
Deferred
134,231
ma¬
terials & suppl..
'\y:' V,•
1935
Accounts payable.
Accr'd liabilities..
1936—Month—1935
$2,240,377
S-4
Taxes.
1936—12 Mos .—1935
$12,439
4,478
806
1,553
2,166
_
r
Int. and amortization
$12,265
1,963
25,676
24,132
$3,433
Operation.^
$2,352
$30,989
$24,021
20,000
24,374
20,000
24,500
$13,384
$20,478
$148,341
5,267
'
1,372
1,308
Appropriations for retirement reservePreferred dividend requirements
Deficit for
—V. 143,
$151,849
68,218
17,967
17,509
62,405
12,341
17,028
Kings County Lighting Co.—Earnings
114,991
Period
Gross
917
1,500"660
Capital surplus
163,865
1,500,000
163,865
Earned
406,722
dividends and surplus
common
p.275.
End. June 30—
revs,
(all sources)
1936—12 Mos —1935 3
1936—6 Mos.—1935
$1,615,008
$1,638,281
_
$3,124,620
$3,181,02
Total exps.
(incl. retire¬
ment exp.) & all taxes
Total fixed charges...__
1,239,685
1,192,406
207,200
2,393,620
415,714
2,326,575
418,543
$238,674
$315,285
$435,904
294.019
surplus...
Treas.stk. atcost.
Net income
2,325
203,557
"
$171,765
...
-V. 142, p. 2382.
26,264
Kinner
Total
Series
Key West Electric Co.—Earnings—
937,754
64,132
Inc.—Initial
,
Gross earnings
$57,469
110,877
20,226
for'gn exch
Common stock..
Funds,
an
p.115.
1934
.
$38,686
liab..
$1,596,437
initial dividend of 5 cents per share on
theseries S-4 shares payable Aug. 15 to holders of record July 31.—V. 143,
$2.53
'
Liabilities
accts.
Inventories of
Other
1934
$397,913
4,717
2,404
Total..
199,800
Consolidated Balance Sheet Dec. 31
.31
Mktable."
351
67,082
•
Balance
Dividends paid.
711
liabilities.
current
Represented by 21,005 no par shares.—V. 142, p. 3175.
x
Maintenance
Income deductionsProvision for income taxes.
26,587
surplus
surplus
Earned
...$1,596,437
Period End. June 30—
Other income.
15,617
interest
Federal income tax
Miscell.
1,077
Paid-in
Total..
1,063,500
State, local, &c., taxes
52,250
Account & interest receivable.
S420.100
due
July 1, 1940
Accounts payable
711
109,454
deposit for collateral-
trust note interest...
Common stock
Collateral-trust 5% notes,
Coach Corp..$1,406,341
The directors have declared
Calendar Years—•
Selling, general and administrative
Depreciation
advances to
&
Prepaid accts. & deferred chges
Special
'
Liabilities—
Investments in
Co.—To Replace Pref. Stock—
special meeting voted to retire $898,000
outstanding 7% preferred stock and authorized the issuance of a $750,000
preferred 5% issue to refund the 7% stock. The old issue will be called for
redemption Sept. 1 at 105 and accrued dividends. Treasury cash to be used
in making up the $148,000 difference in stock and the $44,945 premium
at the call price.
Quarterly dividends of $15,715 due on Sept. 1 will be paid
from current earnings which covered 7% preferred requirements, almost
2Vn times In the fiscal year ended Aug. 31, 1935.
Stockholders also authorized the exchange of old preferred for new on a
share-for-share basis as far as new shares would go.
Officials announced
applications to date for the exchange of $624,000 not including requests
received
for
additional shares
beyond the even exchange authorized.
Preferential rights of present preferred holders will expire shortly, after
which the company will honor requests from present holders for extra stock.
—V. 143, p. 115.
Shares of
83
351
350
6,635
—
collateral trust 5% notes.
on
income
Net
recent
a
286
.
expenses—
Assets—
Jantzen Knitting Mills
$12,258
2,148
.
-
-
Federal income tax
-V. 143, p. 275.
»
_■«»
Miscellaneous
104,969
$19,013
$17,221
1
Total income—
*
103,941
$12,055
203
bonds
Traveling & incidental
Insurance %
8,626
Corp., subsidiary company
Bond & stock expense
958.
1936—12 Mos.—1935
$871,638
$841,139
520,319
497,949
$69,299
41,658
42,544
Oper. expenses & taxes,
Int. and amortization..
p.
On U. S. Treasury
Ltd. (& Subs.)-—Earnings—
1936—Month—1935
From Nov. 16,1935 to Dec. 31, 1935
Interest income:
July 31 declared a dividend of 25 cents per share on the
common capital stock, no par value, payable Sept. 1 to holders of record
Aug. 20.
Previous dividend distributions were as follows: 15 cents on
Dec. 2. 1935: 10 cents on Dec. 10. 1934; 20 cents on June 1, 1931, and
on
Period End. June 30—
Gross earnings.,«
in reorganization to the Kentucky Securities Corp.
company
Income Account for Period
Jaeger Machine Co.-—Larger Dividend—
The directors
Aug. 8, 1936
$2,|28,937l
Total
$2,240,377 $2,128,937
Airplane & Motor Corp., Ltd.—Registers icith
SEC—
After reserve for doubtful notes and accounts receivable of $11,494
in 1935 and $10,503 in 1934.
b After reserve for depreciation Of $418,729
a
in
1935 and $354,677 in 1934.
—V.
142,
p.
c
Represented by 120,000
no
par
Jones & Laughlin Steel
Corp.—Listing—
The New York Stock Exchange has authorized the
listing of $30,000,000
1st mtge. bonds, series A, 434
%. due March 1, 1961, which are issued and
.outstanding.
Comparative
Consolidated
Balance
June 30 '36
Assets—
Liabilities—
Cash in banks &
hand
Cash in escrow.
TJ. S. Govt.
Notes
&
sec.
receiv. (net)..
28,652,594
64,500
5;512,128
trade
4,112,045
7,797,573
5,686,982
30,042,614 32,204,875
contracts, &c_
2,086,273
455,625
oth.corp.'
associated
2,340,604
520,000
_
On
753,646
753,646
2,911,157
681
1,052,189
43,733
and 47 Canadian stores at
1,348,417
355,631
247,723
492,424
487,930
86,366
1,591,297
Funded
216,048
&
money
taxes
133,311,610130,824^143
debt
obliga'ns
pay.
103,237
2,125,000
disc.&exp_
96,393
purch.
debt
&
money
obliga'ns pay.
Accident comp.
35,639,706
4,857,706
& pen'as pay.
2,498,000
2,498,000
1,322,875
2,522,099
58,713,900
57,632,000
30,391,510
18,005,560
1,267,034
3,000,000
58,713,900
57,632,000
30,391,510
18,085,505
Reserves—
Fire iasurance
Contingencies
7% pref. stock.
Common stock.
Capital surplas.
Earned surplus.
Total
-V.
...213,843,745 184,965,130
143,
p.
Total
213,843,745 184,965,130
760.
the United
Bank/New York City.—V. 143, p. 115.
*
-
S.
unable to meet
the situation
Gross earnings in
1929
were
Assets—
hand
..$1,106,749
Accounts receivable.
95,337
Inventory.
1,192,266
Investments
57,600
Due from subsidiaries.
349,000
Pref. stock held for retirement
76,321
Prepaid expenses
35,118
Leasehold and improvements.
156,588
Furnitures & ffxt. (depr. value)
303,805
,
-V. 142, p. 4182.
;
without
Lake St. John Power &
Years End. Dec. 31—
Depreciation
Bond interest
recourse to law, the petition states.
a net profit of $333,175 and in
$334,558 means a net loss of $128,874.
Paper Co., Ltd.—Earnings—
1935
;
1934
$537,578
219,078
Operating profit
$405,823
210,370
3U6.215
72,873
1932
$388,739
174,117
307,176
183,576
6,652
206.361
$367,066
$418,488
$489,143
Cr85.891
050,502
Crl 47,388
306,215
1933
$305,945
196,665
306,215
183,430
38,123
183,430
183,430
100,838
Inventory written off
Deficit
$271,983
Profit
on bonds redeem.
Res.returned to surplus.
195
...
993,534
773,856
049,370
404,738
51", 987
$1,265,323
$993,534
$773,856
$404,737
7
Deficit Dec. 31-
13,535,627
148
146
1936
1935
$225,649
271,336
256,317
25,000
25,000
Accts. & bills rec__
contrac'l
'
.
Preferred stock
Common stock
Surplus
.__
$237,432
33,457
17,499
1,019,100
990,842
500
15,218
1,265,323
993,534
Cash
Deferred charges..
Deficit
-
14,898
Common stock..
1,933,299
Total
...
p.
2.822,000
1,000,000
1,000,000
3,600,000
loan
Accounts
148,481
payable.
96,640
126,005
accrued..
1,983,155
Conting. reserve..
75,000
10,579
1,545,780
75,000
1,308,257
458,718
22,413
-.16,309,053
15,817,655
Interest
Deprec. reserve
Depletion reserve.
Total
liabilities
1,527,336
483,841
Represented by 100,000 no par shares.—V. 142, p. 1125.
(F. & R.) Lazarus & Co.—Pref. Stock to Be Redeemed—
See
..1...$3,372,789
16,309,053 15,817,655
4,711,000
2,822,000
3,600,000
...
Preferred stock
Deferred
x
Total
1,010~217
123,753
Inventories
132 000
1
$3,372,789
791
4,710,500
Debentures
Bank
S
5
Bonds.
x
obligs.
Investments
Accounts payable
Provision for income tax.
Reserve for contingent losses._
Liabilities—
Dep. to guarantee
1934
1935
$
13,598,056
31
1934
$
Cash in trust
$314,583
Sheet Dec.
Balance
1935
Fixed assets
Liabilities—
«...
Reorganize—-
$1,883,340 with
the first half of 1936 the gross of only
Balance Sheet June 30, 1936
Total..
9,406,816
48 in
to
Previous deficit
Co.—Earnings—
Goodwill
10,304,867
a
6 Months Ended June 30—
Net profit after depreciation but before income tax
on
1933
$7,706,388
8,053.868
8,491,512
10,228,412
9,941,023
District Court at
Assets—
Cash
10,871,686
11,048,088
10,004,027
1934
$8,824,821
8,797,055
12,320,725
10,146.128
11.680,348
11,522,566
9,471,998
reorganize Under the Bankruptcy Act is being asked of the
Philadelphia by the company, which also controls
La France Industries,
Woodstock, Ont., and Pendleton
Mfg. Co., La
France, S. C.
Aug. 19 has been set for a hearing to determine whether
trustees Ought to be named to carry on the business.
Company has recently defaulted in payment of semi-annual sinking fund
requirements of $30,600 semi-annually, which are now in arrears $122,400
for Oct. 15, 1934; on $1,462,500 of outstanding 1st mtge.
6% sinking fund
gold bonds, and $64,485 in mortgage interest.
The company also is unable
to meet $417,000 in notes ana accounts
payable already due, or nearly due.
The company is without adequate working capital, and in its present con¬
dition has no means of borrowing or otherwise procuring needed funds.
Despite the most drastic economias since 1929, the corporation has been
dividend of $12.25 per share on account
of accumulations on the
7% special cum. pref. stock, par $100, payable
Sept. 1 to holders of record Aug. 22.
A dividend of $7 per share was paid
on March
2, last, and on March 1, 1935, this latter
being the first payment
made since March 1, 1932.—V.
142, p. 1293.
Katz Drug
1935
$8,488,424
8,975.051
10,328,161
11,518,500
La France Industries-—Seeks to
Permission
U.
Adjustments
Kemper-Thomas Co.-—Accumulated Dividend—
The directors have declared
591.
had 729 stores in operation, including
Canada, against 688 American stores
the end of July, 1935.—V. 143, p. 760.
States and
Debenture interest__...
All of the outstanding 1st
mtge. gold bonds, 4K% series due 1961, and
1st mtge. bonds,
4H% series C due 1961, have been called for redemp¬
tion on
;Oct, 2 at 110 and interest. Payment will be made at the Chase
National
in
Postponed interest
Kansas City Power & Light Co.-—Bonds Called—
p.
company
3,532,138
Res. for Federal
..
July 31, 1936, the
2,712,100
1,576,694
425,000
comp.
& pen'ns pay.
Funaed
2,938,945
cos.
Prepaid ins., &c.
Bond
July
$
147,941
Federal
Other accruals.
purch.
Inv. in & adv. to
Fixed assets (net)
June
1,321,939
....
Interest accrued
Accident
1936
$8,597,317
9,570,689
10,043.390
12.011.258
11,925.061
12,182,365
11,169,274
March..
Taxes, oth. than
Inv. in& adv. to
subsidiaries
S
Payrolls accrued
5,515",285
Real estate sales
Inv. in
Month of—
January
February
Accts. payable—
accts.
Inventories
Dec. 31 '35
143,
(S. S.) Kresge Co.—Sales—
April
May
Sheet
June 30 '36 Dec. 31. '35
on
See list given on first page of this department.—V.
shares.
1293.
Federated
277.
Department Stores,
■■
;,ev-v-.-
Inc., above.—V.
.
143,
Financial
Volume 143
Lehigh & New England RR.—-Equipment Trusts—
The
asked the Interstate Commerce Commission for
obligation and liability with respect to $410,000 of
2%% equipment trust certificates, in connection with the purchase of 250
steel hopper cars of 100,000
pounds capacity at an aggregate cost of about
$515,000.—V. 143, p. 760.
'
has
company
authority to
assume
Lerner Stores Corp.-—Sales—
Month
2,902.327
2.707,333
June
3,509,487
2,924,828
2.560,030
July
3,203,961
2,582,757
1933
1934
$1,581,368
1,587,856
2,584,812
2,225,702
2,524,854
2,011,102
of—
1936
January
February
1935
$1,789,622
1,837,678
2,371,983
$1,862,543
2,048,109
2,604,126
3,361,115
3,250,000
March
April..
May
$1,174,761
1,240,948
1,391,889
1,949,997
1,899.851
1,915.543
1,693,272
—V. 143, p. 277.
Lexington
The
Water Go.—Accumulated Dividend—
(Ky.)
declared
a
dividend of $1.75 per share on account
7% cum. pref. stock, par $100, payable Sept. 1
to holders of record Aug. 20.
Similar payments were made in each of
the five preceding quarters.
The last regular
quarterly dividend was
paid on June 1, 1933.
directors
have
of accumulations
the
on
1934
1935
$446,672 *
147,819
29,183 >
Calendar Years—
General operations
Mainte nance
Provision for retirements
$319,865
116,890
9,947
18,840
26,129
25,000
38,121
Provision for contingencies
T
Taxes (other than Federal income).
Chronicle
927
stabilization fund to provide for contingencies
future defaults in interest and taxes.
'
After
.
vote of at least two-thirds of the outstanding London
Terrace bonds is required before the plan can be consummated.—Y. 142,
P.
2328.
Long Island Lighting Co.—Earnings—
Per. End. June 30—
income
$143,189
$186,794
111,408
....
9,200
1936—12 Mos.—1935
$5,402,4S6a$11165,051 $11,283,042
1936—6 Mas —1935
Gross revs.(all sources)a$5,159,934
Total expenses (incl. re¬
tirement
exp.) &
all
•
x
79
funded debt
;
Other interest
1
Provision for Federal income tax
on
$152,389
109,314
1,457
9,568
10,516
10,522
$55,222
28,000
...
$30,911
23,333
Amortization of debt disc. &exp. & miscel. deduc's
L_
Net income
Accum. divs.
.
pref. stock not declared or paid
on
Note—Portion of prior
years'
in preferred stock dividends
arrears
was
paid during 1935 in the amount of $21,000.
Sheet Dec.
Balance
■>Assets—
x
Accounts receivable.
Accounts
Accrued liabilities
1,518
387
83,970
_
Consumers' extension deposits
1,405
i'
43,825
668,461
Retirement reserve
50,046
Reserves for contingencies
19,951
Contributions for extensions..
30,000
77,419
7% cum. pref. stock ($100 par)
y Common stock..
Capital surplus....
v—
After
37,277
service deposits..
Other current liabilities
1,676
Earned
x
payable.
Consumers'
.
Total
........$2,087,200
32,005
Unamort. debt disc. & exp
Other deferred charges
$4,952,865]
------
of $3,315.
reserves
6,821,010
2,084,772
6,673,250
2,293,793
$734,724
$1,010,321
$2,259,268
$2,315,998
Net income-—
Louisiana & Arkansas Ryv
debt
45,132
Prepayments.. 'i.
3,251,775
1,140,389
x
Owing to a change in the date of entry of dividends from a sub. from
"paid" date to "record" date there is recorded herein an increase in these
periods of $73,302 for the first six months of 1936 and $73,013 for the 12
months of 1935-36. a Does not include amounts credited to "electric sales
suspense" of $307,575 for six months of 1936 and $307,575 for the 12
months of 1935-36—V. 143, p. 761.
31, 1935
Funded
Property, plant & equipment.$4,714,740
Special deposits.
1,302
Cash in banks & on hand.
86,606
Materials and supplies....
Other assets..
x
_____
Earnings >
Liabilities—•
•
,
3,391,806
1,033,403
taxes....
Total fixed charges
183
Total
$481,582
$431,582
196,775
railway.
Net from rail way.
Net after rents
'
Net after rents
-
V, 143, p. 592.
par
2,209,448
711,543
456,775
1,983,772
715,272
428,9o9
66,382
470,522
•
Lowell Gas Light Co.—Earnings—
43,800
1934
1935
Calendar Years—
Gross operating revenues.
Operations
$4,952,865
no
2,106,757
709,791
85,237
$343,543
110,090
^
2,762,332
1,045,687
663.409
i
1933
$353,165
119,627
75,926
$384,950
130,35<*
122,529
—
___
From Jan. 1—
Gross from railway
Net from railway
1,387,066
91,940
Represented by 16,000
y
Gross from
1934
1935
1936
June—
400,000
surplus
-
_
,
Interest
.
the committee.
An affirmative
30,997
$180,419
6,375
Earnings from operations..
Other
and to guarantee against
hearings before a special master, a new plan incorporat¬
ing a number of the sound provisions of our plan was recommended on June
24, 1936, by the special master.
The new plan keeps the bonds intact,
providing a new $1,000 first mortgage bond for the old $1,000 bond.
It
increases the fixed interest from
2% to 3% and provides for an additional
1% to be paid if earned.
It increases the bondholders' share in the equity
from 30 to 60%.
Sy-".?
"When the special master's report came before the Court for confirmation,
we continued to
urge additional safeguards to assure the bondholders con¬
trol of the enterprise and to provide for adequate cash capital and a reserve
fund to guarantee against future defaults.
"After argument before the Court, final accord was reached providing
for control of the enterprise by the bondholders by giving them the right to
elect two-thirds of the directors of the new corporation.
The voting trustees
to represent the bondholders will be suggested to the court by the bond¬
holders' representatives.
The cash capital and reserve fund has been fixed
by agreement at $110,000 so as to assure the success of the plan.
"The committee feels that the new plan is now fair and equitable, and
should be approved by all bondholders."
In addition to Air. Buckingham, members of his committee include
Ellis Lord, of Summit, N. J., and C. Elliott Smith, assistant professor of
finance at New York University.
Committee counsel are Rabenold and
Scribner and Mark Hyman.
Frederick H. Smith, 274 Aladison Ave., is
secretary, and The A. J. Wilde Corp. are adjustment plan managers for
numerous
Maintenance
shares.—
Taxes (other than Fed.
$741,805
382,129
$736,045
419,341
___
—
43,941
53,6/89
100,591
—
120,933
——
income tax)
V. 142, p. 3000.
Link-Belt Co.
('& Subs.)
Net operating income
Non-operating income
-Earnings-6 Months-
Period Ended June 30—
Sales to customers
Cost of sales
;
1936
Net profit on sales.
Other income
Total i
ncome
_
_
$483,549
141,803
$923,643
54.210
_
_
Federal tax estimate
$1,324,050
308,332
$625,353
171,123
ncome...
$1,632,383
105,141
111,111
23,166
69,602
$758,321.
—
1936
.
$6,700,232 $17,088,945
*6,216,682 *15,764,894
$752,519
._
_
Sundry charges to
1935
$9,695,906
*8,943,386
...
;
__
12 Months
—
$532,583
.1
-r-
209,144
Balance
Net credit to
Earnings
*
per
Includes
surplus to date.
share
-
$0.96
$0.64
$1.63
223,691
230,986
Amortization of
Federal income tax.
Interest
_____
Net income.
S
Cash
1,977,889
Accts.
notes;
&c., receivable- 3,271,184
3,074,442
Securities owned.. 4,351,791
Accrued int.
assets
cost
Inv. in affil.
in
co___
charges
Treasury stock.
_
200,848
Liabilities—
assumed
Associates..
50,341
Accrued local taxes
Prepaid & deferred charges..
58,098
debt—
Other accrued liabilities—...
Due to Amer. Gas & Pow. Co.
13,729
22,125
17,417
6,251
2,653
—
—169,425
237,497
3,163
Other assets.....~:.
3,595
Power
Prov. for social se-
172,600
curity taxes....
9,955
56,152
July 1,1936
100,152
248,368
a
...19,241,338 19,055,587
53,392
111,920
3,514,200
10,584,738
3,848,864
3,648,833
—V. 142, p. 4024.
—Reorganization, Plan—
.
.
•
:
,.
.
Buckingham, Chairman of the reorganization committee, repre¬
senting owners of approximately $2,000,000 bonds, on July 31 announced
ts approval of a new reorganization proposal under 77B proceedings of the
Bankruptcy Act and urged its acceptance by bondowners.
The new plan calls for a new issue of first mortgage bonds with fixed
interest at 3% and provision for an additional 1% interest if earned, to
be exchanged in equal principal amount for $5,500,000 outstanding bonds.
According to Air. Buckingham, this meets the important objections made
by his committee which vigorously opposed the original
reorganization
proposal submitted by the owner in August 1935.
Endorsement of the new proposal by the Buckingham committee promises
to make possible the completion by Nov. 1, 1936, of the financial reorgani¬
zation of the London Terrace Apartments decribed as the largest apart¬
ment house development in the world, bringing relief to owners of bonds
in default since May 1932.
In summarizing a report to the approximately 1,500 bondowners who have
given proxies to the Buckingham committee, the chairman contrasts the
original reorganization proposal of the debtor with the new plan, as follows:
"The debtor originally proposed a plan dated Aug. 12, 1935, which in
our view was inequitable because
(1) it proposed splitting your bond in
two parts—one-half first mortgage and the other half second
mortgage,
and providing only 2% fixed interest on your investment, and (2) gave
only 30% of the equity to bondholders, placing the debtor and an outside
speculative group in control of the property.
"Our Committee offered a plan which provided a par for par 4% bond;
at least 50% of the equity to bondholders with bondholder control; and a
—-
750,267
1,524,050
(par $25).;
569,496
— —
S4.267.167
■
'
.
.
—
.Total profit.
Depreciation.
•Alinority interests
x
—
bonus
$49,852
8,586
$106,424
1,325
5,056
$58,438
13,846
5.065
7,919
5.086
4,395
3,193
19,402
U0,514
1,980
3,101
21,029
$65,168
$24,170
8,998
$39,294
-V. 142, p. 4024.
Ludlum Steel
A
-
profit
Estimated.-
company,
$98,924
7,500
$56,246
__
...._„ —
capital stock taxes
ncome and
Net
,
—
_
Miscellaneous expenses.
J
.
Government bonds.
on
177,364
$48,327-
— _
—
$171,847
11.481
8,108
—_ ——
profit...
Operating
.t
38,133
121,486
t
_ _
*1935
.$314,421
xl936
$177,921
3 Months Ended June 30—
Royalties
Operating costs
(23-24 Corp.), N. Y. City
Lee S.
J-'
Total:
'
Gross value
interest
London Terrace Apartments
.
Lucky Tiger-Con^Jbination Gold Mining Co.—Earnings
19,241,338 19,055,587
x After reserve for receivables of $341,363 in 1936 and $246,832 in 1935.
After reserve for depreciation of $8,645,341 in-1936 and $8,445,002 in
1935. z Represented by one sharte preferred stock at cost in 1936 (2,285 in
1935) and 33,604 shares common stock in 1936 and 1935. a Represented by
shares of no par value.-—V. 143, p. 116.
>
y
$4,267,167
—
49,669
2,750
_ _ — —
Surplus..
Total.-
stock. 10,584,738
Total.....
meter & extension
credit
Reserves..
cum.
Common
Acer. int. on long term
Com. stock
pref.
stk. (par $100). 3,277,800
799,055
payable..
Accounts
deposits & int. thereon....
29,232
53,264
118,499
Reserves
6XA%
(trade creditors)
Instal. on obligations
Deferred
.
Pref. stk. div. pay.
256,439
526,051
Notes payable
Customers'
,
5,460,467
1, 1947-.payable (bank).—...
Sept.
Notes
Federal income tax
Prov. for cap. stk.
taxes....
1st mtge. 5 y % gold bonds due
$950,000
205,000
69,740
80,648
3,371
receivable...
Merch.; matls. & supplies...
Insurance deposits
167,471
21,004
Prov. for Fed. inc.
36,884
163,641
152,405
__
Balance Sheet Dec. 31, 1935
"
wealths
195,420
4,815,033
.
5,512,146
172,600
801,434
—
$17,335 represents interest accrued to- June 30,1935
surplus in the write-down of the balance due
from American Commonwealths Power Associates.
Due from American Common¬
estimated.
2,948,531
Surplus
Tjotal..
911,665
taxes
.
$
Accr'd State, local
& Canad taxes—
employees'
stk. pur. trusts.
Other assets & def.
z
2,309,114
Dec.31/35
$
v.;
Accounts payable.
42,640
at
;. •/
2,165,378
rec'le
securities
Fixed
Int.
—
37,356
$91,655
lo7,164
written off against
was
plant, equip., <S?c
,.$3,731,609
Cash in banks & on hand....13,439
June30,'36
Liabilities—
&
Inventories..___.
y
.
Of this amount
which
Assets'
J9ec.31,'35
$
xl9,830
$91,890
________
_____
Dividends
Accounts
JMW«30,'36
Assets—•
on
*—
advances to American Commonwealths
on
Power Associates
Prop.,
Consolidated Balance Sheet
x
replacements
In
computing net income from operations ab<
made for Federal surtax on undistributed profits.
x
$190,235
67,316
49.556
4,064
15,000
$179,343
—65,732
37,487
bond discount and expense
4,064
Provision for retirements and
470,077
on common
depreciation
$1,318,098
$185,054
5,181
—
,
Interest deductions
x
x
$172,171
7,172
___
Co.—5% Bonus to Kmployees—
will be distributed among 1,000 employees of the
Batcheller, President of the company, announced on
of $38,000
H.
G.
July 31.
,
.
.
,
approximately 5% of the total wages of each employee
The additional compensation is granted
as a result of increased earnings of the company in the first half of the year.
Air. Batcheller added that the action was in line with the company's policy
considering employee interest.—V. 142, p. 4345.
The bonus will be
for the first six months of 1936.
Mack Trucks, Inc.—Earnings—
Period End. June 30—
Net prof, after deprec.,&e
Earns, per sh. on 597,335
shs. no par .com.stk.out
1936—3
1936—6 Mos.—1935
Mos.—1935
$404,412 loss$132,015
$511,889 loss$319,033
...
$0.67
Nil
Note— No deduction has been made for possible
undistributed orofits.—V. 142. P. 4024.
Nil
$0.85
Federal surtax 011 any
.
'
925
Financial Chronicle
Volume 143
Income Properties, Inc.-—Registers
,
^^IfcSKiSf
Indiana General Service Co.—Earnings—
above state»m«as§
made in
profit*.—V. 142,
Mr amtm
3855.
p.
Household Finance
Period End. June 30—
4i
Operating expense--.
Net inc. from oper'n*.
Other income credits..*
Gross income
....
Interest paid
....
Fed'l & Dominion taxes
(1936,
incl.
amount
$3,073,043
1,773,816
1,581,972
_.
.8771,896
$610,730
„,
20,717
-
.
-
—
_
.
_
...... w
* *
.
^213
"Tift «W
W-M
»•»« *fSJ:!S
,5'262:677
a
-
J- a.. - -i .
a
*
...
-
_ _
.
m m
-
398,095
Total income...
—........
Interest on funded debt.
J.
Amortization of debt discount & expense.. . .
Other deductions....*_...«•*...
_..
Fed'l
the
profits)
«t "W
Cr7i:o57
3,362
2,760
"
I ,Tlt
f.TTl
income
■mm
.
.
$4,634,531
94,046,252
6,090,996
mm
4,335,990
Balance at
.....
i.
9
54,188
471,754
500,000
435,318
221,041
225,234
41,095
...
....
Ji-i **
Federal securities^.^.i.—^.Accounts
5.W7.TM
5.303*51
i.
31, 1935
-
^
fi
Liabilities—
mtge. 5% bonds due
JftQ: X, 1948..........—. $3,907,900
116,480
Acoounts payable (general)—
106,228
Aceounts payable (ami. cos.)
148,869
Customers' deposits......._
32,659
Interest accrued—a——a a
513,108
Taxes accrued-ic—
5,086
Other accrued accounts*—
6,850
Unadjusted credits————
.$13,998,194 1st
.
.. .
Special deposits.....*
Cash.
beginning of
period
Other
credit — ton refer
from
special tempo¬
rary reserve (proceeds
of insurance policies on
life of officer) —. ....
a
.
Miscell. stocks A bonds
Minority int. in earning*
of subsidiary con1 pany
the
1
Assets—
Fixed capital.
9,858
$406,908
$567,799
Balance Sheet Dec.
708.222
...
Prov. for contingencies.
Miscellaneous charges.*
W
18,769
10,650
.......
.
.
.
.
20,628
$631,358
MI
.
...
Net income..
78,670
'403,575
r* m
v
surtax on undistri outed
Net
—..
...
wiV-
Operating income.
Other income (net)
*
-—- - - -
-
A A-
.
.
,;J2 i
*
.. .
......
.
i*td,
an
for
Depreciation
Taxes.* ^ J..
1934
■;
33,467,994
......
.
"}
.
■» .
Maintenance.. aa ;.
WM—12 Mm
f
;
Operating revenue....... L -A
Calendar Years—
Operation...
Carp. (Jt Subs.)—Earnings—r
Il>i
Gross inc. from operat'as
x
with SEC—
department.—V. 143, p. 274.
See list given on first pagb of this
receivable.....*..
Materials and supplies......
Unamort. debt disc. & exp...
Unadjusted debits...
>
'
2,948,303
3,971,100
3,000,000
1,196,249
Reserves, i a .. a;. aa A a a. a. .a-a
Prefwredstock ($100 par)...
A
Common stock (6100 par).**
200,000
.
Total.
,—.......
97.242,441 310.535,527 38,582,242
99.999.M3
Excess of purchase pries
of cap. stks. over bodt
value
Total
tangible
assets of subsidi.qry..
Partic. pref. stock <ilv..
313J33
Class A com. stock dir..
Class B com. stk. dm..
mill
571 .Off
10,415
1,005,012
—
36,000,996
37,120.529
Bal.atendof period- 37.129.9J9
Earns, per sh. on 211,701
shs. of preference ^tocfc
stock
at
$.04
7,00
7.10
6.34
569,052
3.30.123
599,052
586,123
.
— .....—_ - - ~
A..
.
Total income. A...
Interest
on
.
..........
funded debt.
Other deductions...
stocks after sub*
Net income, a.
35.63
35.89
33.1$
33,66
_
a.
32.91
3339
i:-t
1935
1936—6 Mob.—1935
1983
Fixed capital—.44,464,361 44,167,666
invests. In sub. cos
34,714
Contractual constr
20,788'^
6,300.106
8
Acots.
.
_
.
$802,907
277,095
277,095
214,308
.
rec.
II.087,632
,
214,308
579,809
A;Af..v.
■$■>
$
(general)
_
_
.
* .
175,684
152,174
.
Other accrd. accts.
84,034
339,137
528,602
1,073,643
9,364
debt
1,777,170
110,695
!
3,958,500
3,571,800
9,560,775
2,608,668
-
35,646,802
52,052,3321
-52,899,442
Total—
105,012
324,003
614,220
1,034,868
?
8,923
28,983
4,677,903
i-
20,503
93,312 Unadjusted creds.
575,718 Reserves—..A.-i.- 5,466,850
7%
pret.
stock
($100 par).— 3,958,500
1,868,282
273,061 6%
pref.
stock
($100 par)
3,671,800
x Common stock.. 9,560,775
Surplus
2,651,058
116,138
664,913
Unadjusted debits
1934
1935
1,753,882 Customers' deps—
2,627,600 Interest accrued..
657,082 Taxes accrued——
(affil.
194,470
31
1,008 Accounts payable
5
(affU. cos.)
1,872,636
companies)....
supplies.
26,986,871
""
4,537,134
36.948,381
IJttMC?
Net oper. income.,,*
—V. 143, p. 589.
Total.........52,899,442 52,052,332
Represented by 720,260 no par shares.—V. 138, p. 4466.
x
Indianapolis Water Co,—Bonds Catted—
Imperial Royaltla* Ca.—Earning*—
Earnings for Pjtrfetf April 1,1986* fo
Jam 30,1986, Inclusive
Income; Oil and gas
Osage headright <ltetrllNetteSML
Lease rentals and bonuses..
Syndicate distribution*******^
*
—
^.
Gross income
I.*—*«.**,
Administrative expiree**—***,
Operating profit, —
Additions to incoml.*******».
5.
2,123
1,855
V
$29.m
v
st-mm m# mm
4* *■>
mpmrn*
own
wb -gmw w sns w n$c4»
w** «* mm*
m* it s* *
#*«*#»mm4t>
The company also annoimced that it has called for redemption on Jam 1,
1937 all of the outstanding first & refunding mortgage 4H% bonds, due
Jan. 1, 1940, and has deposited with the
total amount necessary tor the payment
International Match Corp.—Exchange Offer—
Participating Co., Ltd., in V, 143, p. 781.—v . 142, p. 4181
w&mmm mmm on
See Imco
529,447
Ltd.—Earnings—
Calendar Year—
W.870?177 *S,47l?175
me3j8m
Net profit...... .....
dividend *
Preferred
4
Net
».Sl5S:: 25S3S JBftfi 'O «8B8
Mr Mmgwi and providing for
-
.
-.-
-
,*
*
—
Interest and other deductions....
*,
.
:
$185,504 *
i
Dr377
$185,127
109,300
1
"$154,578
Dr359
$154,219
A
109.057
'
Net income—
*•*—i —
income war tax.
>
JBIanw JIM, Bsc. 31
.
-
*..* .
$669,345
514,767
$725,227
539,723
.
operating income.
Other income (net)...
1934
1935
;
Operating revenues.... — .
—
Operating expenses and taxes*...**
Net earnings. A
charg es and .aapsnnw*
Telephone Co.—Earnings-
Interstate
Calendar Years—
Imperial Tobacco On* «f
Bankers Trust Co., trustee, the
of the bonds. Payment will be
holders may at their option receive
payment at this rate prior to the redemption date upon presentation of
their bonds at the New York office of Bankers Trust Co.—:VA 143, p. 690.
made at 104 and accrued interest, and
545
113
Production expens*..—
gefoteirsssrvsn)
The company has issued a call for redemption on Sept. 1, 1936, of its
$1,102,000 first and refunding 5* of 1970, series of 1930, at 105; $786,000
first and refunding 5Ks of 1954. series of 1924, at 102K : and $4,500,000 first
and refunding 5 Ha of1953, series of 1923* at 102H The company recently
sold $13,827,000 of 3K% bonds, due 1966, at par, proceeds of which are
to be used to redeem these bonds and additional indebtedness of the com¬
pany.-,,
v,
^,yr-ir
AV'f f,AAA'A '
330,106
■
all
$1,111,520
133,933
Funded debt—25,483,000 25,483,000
Accounts
payable
■'
17,210
Misc. stocks A bds.
Special deposits...
36.242.130 $40,134,903 3374118.530
35.719
—
Uncollec. oper. rev. nue.
After
91,112
25,915
$2,192,385
1,274,150
91,112
24,215
Liabilities—
$
discount A exp.
Earning#—
Period End. June 30—
x
.
_
: ■A"!
'
1934
.;
$
;
Unamortized
Illinois Bell
...»
* .
.
.
■
Matte. A
3678,
Ordinary dividends.
752,783
$2,058,451
,
Federal securities. 3,125,368
Notes A accts. rec,
750,941
x
224,659
1,074,753
v
$2,502,697
1,274,150
* . .
—
Cash..
Net profit
1934
$6,451,907
2,341,260
$2,326,754
175,942
_ . .
....
iar lansas on instalment notes
receivable less recoveries on now prorlowsty written off—Net amounts
as
follows: Six months nM hmm 3% ISM, J75.934; 1935, 3332,828;
12 months ended June 36, iM6Tf®«k 1935, 31.220.748.—V. 142,
Operating expc oses IncMe gohMm
* mm
A
a
...*
months of 1935.
TOtal* *1 .,
*
........
A A...;
.
Assets—
35.09
35.79
Dividends for the firm ids mmakm of 1986 of 31.75 per share on the
preference stock and 3! .50 on the ehms A and «iaa* B coistmon stocks aggrewhich
gated $1,268,414, leaving 6ft393.677 mrried to
ret six
compares with 39t3,242 carried to osrnod an
^
-
.'A.'* *
pref. dividend—*,
pref. dividend...*
Common dividend*,
puting maximum dlv,
on preference stcck at
—
...
Balance Sheet Dec
rate of $5 per annum. *
Operating expenses.
Operating taxes.
A**.
_....... ... ... .
_—
stocks after com¬
Operating revenues
.
... .
Amortization of debt discount & expense—
stocks outs end¬
.
p.
.
.
_
Operating income—
tracting divs. declared
on preference sttxk for
period
*
Earns, per sh. of cl.A A It
x
.
.
Aw*..
y
1935
$6,953,586
2,479,140
275,702
1,092,593
779,396
.
.A... *... ...
... .......
.
Co.- -Earnings—
. . ... ...
-
Other income (net)
ing at end of period...
Earns. per sh. of cl .A St U
com.
.1. — .
.
w
of
$3 per annum.......
No. or shs. of class a A B
com.
*
-
v
_
319.02
$21.32
310,51
$12.06
*
com.
_ -
...
Depreciation.
_
j.
V'':.^
■
Maintenance...
pref.
rate
Years—
Calendar
Taxes*
part of div. on pmerence
"
Operating revenue, electric.
Operation
outstanding——
'
Indiana & Michigan Electric
744,176
576,696
1,260,373
$15,946,834
mm+m mm mm
-V141, p.3692.
of net
Earns, times cum.
Total,
..—.-.$15,946,834
.
-
—A* A jAAaaA'.A..a$75,8271
Balance Sheet Dec. 31 1935
$45,162
"
1 oi-'
Liabilities—
*
$885 888
equip., Ac.
$4,691,602 $6 oumul. pref. stock
b Commonstock-*!..—.1—
1,196|000
Invest, to sub. operating co.
not consolidated (at cost)..
51,161 1st mtge. 5% gold bonds,!
series A, due April 1,1961.
2,000,000
Miscellaneous Investments...
43,081
....
.
31,371
Special deposits...
—
9,623 Accounts payable*.
Accrued interest—A—A...
1
25,000
Debt discount A expense to
process of amortisation.—*
197,482 General taxes.***—r-v.. ■ 44,484
16,100
Prepaid accounts A pref. chgs
31,886 Fedwt A State income taxes*
374
Cash (toel. certificate of depj
341,144 Miscellaneous current liabe—
783,819
Working funds—
— !
1,374 Reserves....
s 276,586
a Accounts recdvable..*—*
28,578 Capital surpius.A——.***
Materials and supplies.*—-w
93,189 Surplus
.**.*
1229,497
Assets—
394.665
Dom. Govt. bds.. 4 295,25!
Sundry debtors...
127,946
.Stock
In
trade
at "
cost A advs. lor
*
1934
402,651
731,973
414,836
682,170
635,139
249,418
3,780,764
Assets—
Cash in banks..., $
1935
$
681,787
212,260
1935
3,590,368
$
leal
purchases..11
Sundry investm'ta
,
6,836.066
8,030,000
47.255,160 47,256,160
Inv. in sub. cos. at
cost or under... 17
Shares in other cos.
Real est.
101,579
803,000
.
A bldgs. i
101,579
&
8,842,841
fit¬
120,450
8,500,488
tings (at cost)..
Prepaid taxes, in¬
surance,
a
*-.-.
$5,489,071
b Represented by
23,000 no par shares.—V. 139, p. 1405.
Nickel Co. of Canada, Ltd^—^Dividerid
Increased—
tr.-marks
and patents
28
Aug. 3 declared a dividend of 35 cents per share on
stock, no par value, payable Sept. 30 to holders of record Aug.
The directors on
common
.....
Total—..
After reserve for uncollectible accounts of $8,687.
International
Ac
G'dwill,
Total
$6,489,071
Total.
130.450
machinery,
furniture
,
—
803000
(at cost)...,... 1
Plant,
.* *
Tel. plant,
70 912,565 76.361996 <
,
-V. 142, p. 1644.
70,913,565 70,382,609
the
31.
This compares with 30 cents paid can June 30, last, 25 omits paid on March 31,
last, and on Dec. 31,1935; 20 cents on Sept. 30,1935; 15 cents per share paid
926
Financial
Chronicle
each quarter from Sept. 29, 1934, to and incl. June 29, 1935, and 10 cents
per share paid on June 30 and March 31, 1934.
This latter was the first
payment made since Dec. 31, 1931, when a regular quarterly dividend of
5 cents per share was disbursed.—V. 142, p. 3347.
Income Account for Period From Nov. 16, 1935 to Dec.
31, 1935
"
Interest income:
From Consolidated Coach Corp., subsidiary company
On U. S. Treasury bonds
July 31 declared a dividend of 25 cents per share on the
capital stock, no par value, payable Sept. 1 to holders of record
common
1936
[Successor company in reorganization to the Kentucky Securities Corp.
Jaeger Machine Co.—Larger Dividend—
The directors
Aug. 8,
Kentucky Securities Co.—Earnings—
on
$12,055
203
Aug.
20.
Previous dividend distributions were as follows: 15 cents on
Dec. 2, 1935; 10 cents on Dec. 10, 1934; 20 cents on June 1, 1931, and
quarterly distributions of 3124 cents per share previously.—V. 142, p. 958.
Jamaica Public Service, Ltd.
Period End. June 30—
Gross earnings..
$68i400
42,544
Oper. expensed & taxes.
Int. and amortization-.
_
Balance
(& Subs.)—Earnings—
1936—Month—1935
$69,299
$871,638
41,658
8,626
520,319
103,941
8,633
$17,221
;
1936—12 Mos.—1935
$19,013
Total income
Bond & stock expense
Traveling & incidental
83
Interest
Net
on
351
350
collateral trust 5% notes
income
Balance Sheet Dec. 31, 1935
Assets—
Knitting Mills Co.—To Replace Pref. Stock—
Jefferson Electric
Co.—Earnings—
Calendar Years—
1935
Selling, general and administrative
Depreciation
1934
$917,680
403,383
104,668
expenses.
$811,240
341,001
99,827
$409,629
42,025
Other income.
$370,412
29,029
Liabilities—
Investments in & advances to
Consolidated
Coach
x
Prepaid accts. & deferred chges
711
Cash in bank.
Special
for
Marketable securities
1935
Cash
a
&
receiv.
$388,166
4,747
secure__
Notes
x
(trade)
Other
202,366
Inv.
b
Prop., pl't &
560,908
eq_
1936—Month—J935
$12,439
$12,265
Operation..
Maintenance
4,478
1,553
2,166
$3,433
Deficit for
common
a
liab..
$57,469
114,991
for
reserve
""917
l,50b"666
1,500,000
163,865
163,865
406,722
in 1935 and $10,503 in 1934.
Total
and
$2,240,377 $2,128,937
accounts receivable
Comparative
c
U. S. Govt.
Notes
&
Consolidated
Balance
sec.
Inventories
....
Liabilities—
Dec. 31 *35
■■■
•
$
5,515~285
Interest
3,532,138
1,052,189
43,733
1,321,939
355,631
1,348,417
247,723
492,424
accrued
2,086,273
455,625
2,340,604
520,000
753,646
Other accruals
753,646
2 938 945
2,911,157
__
487,930
comp.
debt
&
Prepaid ins., &c.
103,237
2,125,000
Bond disc.&exp.
money
obliga'ns pay.
86,366
1,591,297
147,941
216,048
35,639,706
4,857,706
2,498,000
taxes.
Funded
96,393
purch.
debt
2,498,000
&
money
obliga'ns pay.
Accident
comp.
& pen'ns pay.
Reserves—
Fire insurance
Capital surplus.
1,322,875
1,267,034
2,522,099
3,000,000
58,713,900 58,713,900
57,632,000 57,632,000
30,391,510 30,391,510
[Earned surplus.
18,005,560 18,085,505
Contingencies
7%
pref. stock.
Common
..213,843,745 184,965,130
stock.
Total
213,843,745 184,965,130
-V. 143, p. 760.
$8,597,317
9,570,689
10.043,390
12.011.258
11,925,061
12,182,365
11,169,274
March
June.
July...
r
All of the outstanding 1st mtge.
gold bonds, 4K% series due 1961, and
1st mtge. bonds, 4J^% series G due
1961, have been called for redemp¬
tion on Oct. 2 at 110 and interest.
Payment will be made at the Chase
p.
10,004,027
115..
Permission
to
France, S. C.
Aug. 19 has been set for a hearing to determine whether
ought to be named to carry on the business.
Company has recently defaulted in payment of semi-annual sinking fund
requirements of $30,600 semi-annually, which are now in arrears $122,400
for Oct. 15, 1934, on $1,462,500 of outstanding 1st mtge.
6% sinking fund
gold bonds, and $64,485 in mortgage interest.
The company also is unable
to meet $417,000 in notes ana accounts
payable already due, or nearly due.
The company is without adequate working capital, and in its present con¬
dition has no means of borrowing or otherwise procuring needed funds.
Despite the most drastic economies since 1929, the corporation has been
unable to meet the situation without recourse to law, the petition states.
Gross earnings in 1929 were $1,883,340 with a net profit of $333,175 and in
the first half of 1936 the gross of only $334,558 means a net loss of
$128,874.
Lake St. John Power & Paper Co.,
Years End. Dec. 31—
1934
1933
1932
$405,823
210,370
3U6.215
$305,945
196,665
306,215
183,430
38,123
$388,739
174,117
307,176
219,078
306,215
183,430
100,838
Bond interest
_
183,430
72,873
Deficit
$271,983
on bonds redeem.
Res. returned to surplus
$367,066
on
1936
1935
$225,649
$1,106,749
95,337
Inventory
1,192,266
Investments
57,600
Due from subsidiaries
Pref. stock held for retirement
Prepaid expenses
_
Leasehold and improvements.
Furnitures & fixt. (depr. value)
Goodwill
Total
-V.
142, p. 4182.
349,000
76,321
35,118
156,588
303,805
Accounts payable
$237,432
33,457
Reserve for contingent losses..
17,499
Preferred stock
1,019,100
Common stock
132,000
Surplus
1,933,299
Provision for income tax
51", 987
$993,534
$773,856
$404,737
1934
S
$
13 ,598,056
13,535,627
148
146
271,336
256,317
25,000
25,000
Accts. & bills rec._
1935
Liabilities—
Dep. to guarantee
Deferred charges..
Deficit
791
010~217
990,842
123,753
1
500
15,218
14,898
1 265,323
993,534
$
Bonds....
16,309,053 15,817,6551
Represented by 100,000
no par
126,005
1,545,780
loan
Accounts payable.
accrued.
Conting. reserve.
1,983,155
_
75,000
.
Deprec. reserve
1,527,336
483,841
Depletion reserve.
Deferred liabilities
Total
3,600,000
96" 640
Common stock..
Interest
Total
shares.—V. 142,
$
4,711,000
3,600,000
1,000,000
Preferred stock
Bank
1934
4,710,500
2,822,000
Debentures
x
obligs.
Cash
x
$3,372,789
Sheet Dec. 31
Balance
10,579
2,822,000
1,000,000
148,481
75,000
1,308,257
458,718
22,413
16,309,053 15,817,655
p.
1125.
(F. & R.) Lazarus & Co.—Pref. Stock to Be Redeemed—
See Federated Department Stores, Inc., above.—V. 143,
p. 277.
-
Total
Cr49,370
404,738
1935
Inventories
$489,143
Cr85,891
Cr50,502
773,856
Investments
1
$3,372,789
$418,488
$1,265,323
Assets—
contrac'l
Liabilities—
hand
.
195
Crl 47,388
Cash in trust
$314,583
6,652
206,361
993,534
Deficit Dec. 31
Fixed assets
"183,576
.
Profit
Balance Sheet June 30,1936
Cash
-
..
Previous deficit
Co.—Earnings—
Accounts receivable
Ltd.—Earnings—
1935
$537,578
Operating profit..
Depreciation
$100, payable
Sept. 1 to holders of record Aug. 22.
A dividend of $7 per share was paid
on March 2, last, and on March
1, 1935, this latter being the first payment
made since March 1, 1932.—V. 142, p. ,1293.
'•'»
Reorganize—
reorganize under the Bankruptcy Act is being asked of the
District Court at Philadelphia by the company, which also controls
France Industries, Woodstock, Ont., and Pendleton
Mfg. Co., La
Adjustments
*1 SSCtj*
9.941.023
10.304,867
9,406,816
.
Kemper-Thomas Co.—Accumulated Dividend—
6 Months Ended June 30—
Net profit after depreciation but before income tax
1933
$7,706,388
8.053.868
8.491.512
10.228.412
U. S.
The directors have declared a dividend of $12.25
per share on account
of accumulations on the
7% special cum. pref. stock, par
Katz Drug
1934
$8,824,821
8.797.055
12,320.725
10,146,128
11,680.348
11,522,566
9,471,998
1936, the company had 729 stores in operation, including
Debenture interest
New York City.—V. 143,
1935
$8,488,424
8,975,051
10,328,161
11,518,500
10,871,686
11.048,088
681 in the United States and 48 in Canada, against 688 American stores
and 47 Canadian stores at the end of July, 1935.—V. 143, p. 760.
Postponed interest
Inventory written off.
Kansas City Power & Light Co.—Bonds Called—
National Bank,
January
February
trustees
Res. for Federal
133!31l',610130;824;i43
of this department.—V. 143, p. 591.
(S. S.) Kresge Co.—Sales—
La
& pen'ns pay.
Funded
purch.
subsidiaries
$435,904
La France Industries—Seeks to
Federal
Accident
Inv. in & adv. to
Total
See list given on first page
Taxes, oth. than
associated cos.
$315,285
Airplane & Motor Corp., Ltd.—Registers with
Oh July 31,
2,712,100
1,576,694
425,000
Payrolls accrued
Real estate sales
Fixed assets (net)
36
$
trade
4,112^045
7,797,573
5,686,982
30,042,614 32,204,875
contracts, &c.
2,326,575
418,543
SEC—
Accts. payable—
Inv. in oth.corp.
Inv. in & adv. to
2,393,620
415,714
$238,674
$171,765
April
May
Sheet
June 30
$
accts.
receiv. (net)..
1,192,406
207,200
-V. 142, p. 2382.
Month of1936
Corp.-—Listing—
Cash in banks &
28,652,594
64,500
5,512,128
$20,478
20,000
24,500
1936—12 Mos.—1935 3
$3,124,620
$3,181,02
$1,638,281
revs,
Net income
$11,494
reserve for depreciation of $418,729
Represented by 120,000 no par shares.
June 30 *36 Dec. 31 '35
escrow.
$24,021
$13,384
1936—6 Mos.—1935
(all sources). $1,615,008
(incl. retire¬
ment exp.) & all taxes
1,239,685
Total fixed charges
203,557
of
outstanding.
hand
$30,989
20,000
24,374
Total exps.
b After
Jones & Laughlin Steel
on
$2,352
^
Kings County Lighting Co.—Earnings—
2,325
The New York Stock Exchange has authorized the listing of
$30,000,000
1st mtge. bonds, series A, 4\i%, due March 1,
1961, which are issued and
Cash in
17,509
24,132
25,676
294,019
Treas.stk. at cost.
doubtful notes
$
17,028
26,264
in 1935 and $354,677 in 1934.
—V. 142, p. 1293.
Assets—
$151,849
68,218
17.967
dividends and surplus....
Period End. June 30—
Gross
937,754
$2,240,377 $2,128,9371
After
$148,341
62,405
12,341
reserve.
Preferred dividend requirements
Kinner
Total
£-4
1936—12 Mos.—1935
5,267
1,372
1,308
1,963
806
Int. and amortization
1934
$38,686
110,877
20,226
.
Capital surplus
surplus
64,132
Series
-V. 143, p. 275.
__
charges.
Inc.—Initial
Key West Electric Co.—EarningsPeriod End. June 30—
Gross earnings
199,800
$2.53
1935
Earned
3,016
Funds,
p.115.
Appropriations for retirement
liabilities..
curr.
$1,596,437
The directors have declared an initial dividend of 5 cents per share on
the series S-4 shares payable Aug. 15 to holders of record
July 31.—V. 143,
$303,924
179,700
Res.for for'gn exch
c Common stock
ma¬
assets.
& advances._
Deferred
134,231
588,476
17,116
66,327
947,9971
25,181
__
terials & suppl..
curr.
Accr'd
Total
Dividend—
Taxes
Accounts payable
$397,913
4,717
67,082
2,404
shares.—V. 142, p. 3175.
no par
Custodian
Keystone
351
surplus
$1,596,437 !
Represented by 21,005
711
liabilities....
surplus
Earned
Total..
$399,440
46,973
48,543
Liabilities—
accts.
Inventories of
Other
1934
current
Paid-in
Consolidated Balance Sheet Dec. 31
Assets—
15,617
26,587
Federal income tax
Miscell.
1,077
Balance
Shares of common stock outstanding, no par
Earned per share
:
payable
State, local, &c., taxes
52,250
...
Account & interest receivable.
1,063,500
interest-
Accrued
26,602
$342,762
239,800
120,000
$2.85
Dividends paid
Accounts
collateral-
trust note interest
$420,100
July 1, 1940..........
109,454
deposit
Common stock
Collateral-trust 5% notes, due
Corp..$1,406,341
$451,654
53,437
55,455
Income deductions
Provision for income taxes.
Mktable.
6,635
$2,404
.
$238,220
Common stockholders at a recent special meeting voted to retire
$898,000
outstanding 7% preferred stock and authorized the issuance of a $750,000
preferred 5% issue to refund the 7% stock. The old issue will be called for
redemption Sept. 1 at 105 and accrued dividends. Treasury cash to be used
in making up the $148,000 difference in stock and the
$44,945 premium
at the call price.
Quarterly dividends of $15,715 due on Sept. 1 will be paid
from current earnings which covered 7% preferred
requirements, almost
2K times in the fiscal year ended Aug. 31, 1935.
Stockholders also authorized the exchange of old preferred for new on a
sharenfor-share basis as far as new shares would go.
Officials announced
applications to date for the exchange of $624,000 not including requests
received for additional shares
beyond the even exchange authorized.
Preferential rights of present preferred holders will expire shortly, after
which the company will honor requests from present holders for extra stock.
—V. 143, p. 115.
1
286
expenses
Federal income tax
-V. 143, p. 275.
Jantzen
$12,258
2,148
.....
Insurance
Miscellaneous
$841,139
497,949
104,969
$247,376
^
Volume
Financial
143
Lehigh & New England RR.—Equipment Trusts—
The company has asked the Interstate Commerce Commission for
authority to assume obligation and liability with respect to $410,000 of
2%% equipment trust certificates, in connection with the purchase of 250
steel hopper cars of 100,000 pounds capacity at an aggregate cost of about
$515,000.—V. 143, p. 760.
Lerner Stores
Corp.—"Sales
927
Chronicle
stabilization fund to provide for contingencies and to guarantee
future defaults in interest and taxes.
"After
against
hearings before a special master, a new plan incorporat¬
ing a number of the sound provisions of our plan was recommended on June
24, 1936, by the special master.
The new plan keeps the bonds intact,
providing a new $1,000 first mortgage bond for the old $1,000 bond.
It
increases the fixed interest from 2% to 3% and provides for an additional
1 % to be paid if earned.
It increases the bondholders' share in the equity
from 30 to 60%.
When the special master's report came before the Court for confirmation,
we continued to
urge additional safeguards to assure the bondholders con¬
trol of the enterprise and to provide for adequate cash capital and a reserve
fund to guarantee against future defaults.
"After argument before the Court, final accord was reached providing
for control of the enterprise by the bondholders by giving them the right to
elect two-thirds of the directors of the new corporation.
The voting trustees
to represent the bondholders will be suggested to the court by the bond¬
holders' representatives.
The cash capital and reserve fund has been fixed
by agreement at $110,000 so as to assure the success of the plan.
"The committee feels that the new plan is now fair and equitable, and
should be approved by all bondholders."
•
In addition to Mr. Buckingham, members of his committee include
Ellis Lord, of Summit, N. J., and C. Elliott Smith, assistant professor of
finance at New York University.
Committee counsel are Rabenold and
Scribner and Mark Hyman.
Frederick H. Smith, 274 Madison Ave., is
secretary, and The A. J. Wilde Corp. are adjustment plan managers for
numerous
"
Month of—
1935
3,361,115
3,250,000
-
May
-
June
2.560,030
$1,174,761
1,240,948
1,391,889
1,949.997
1,899,851
1,915.543
1,693,272
3,509,487
-
—
1933
$1,581,368
1,587,856
2,584,812
2,225,702
2,524,854
2,924,828
2,582,757
2,604,126
March----
April
1934
$1,789,622
1,837,678
2,371,983
2,902,327
2,707,333
1936
$1,862,543
2,048,109
January
February
3,203,961
July
2,011,102
—V. 143, p. 277.
(Ky.)
Lexington
Co.—rAccumulated Dividend—
Water
The directors have declared a dividend of $1.75 per share on account
7% cum. pref. stock, par $100, payable.Sept. 1
to holders of record Aug. 20.
Similar payments were made in each of
the five preceding quarters.
The last regular quarterly dividend was
paid on June 1, 1933.
of accumulations on the
.
1935
Calendar Years—
Operating revenues-—
General operations
$319,865
116,890
9,947
18,840
147,819
—
Maintenance-
29,183
26,129
25,000
—
Provision for retirements
—
Provision for contingencies
Taxes (other than Federal income)
-
38,121
$186,794
111 ,408
income
$143,189
9,200
income.
Interest on funded debt-
—
$152,389
109,314
1,457
79
9,568
10,516
Other interest
:
Provision for Federal income tax—
Amortization of debt disc. & exp. & miscel. deduc's
Net income
Accum.divs.
_____
—
$55,222
.
pref. stock not declared or paid-_
on
183
10,522
$30,911
23,333
28,000
_
Note—Portion of prior years' arrears in preferred stock dividends
was
paid during 1935 in the amount of $21,000.
Balance
Sheet Dec. 31,
Cash in banks A on hand
x
1935
„
P.
Funded
Materials and supplies.
Other assets.-
Accounts
i
Unamort. debt disc. A exp___
Other deferred charges
payable
37,277
1,518
Other current liabilities...
387
Accrued liabilities.
32,005
1,676
1,405
50,046
19,951
------
Prepayments...—
$2,087,200
Consumers' service deposits..
86,606
45,132
Accounts receivable
debt
83,970
Consumers' extension deposits
Retirement reserve
Reserves for contingencies
Contributions for extensions.
_
7% cum. pref. stock ($100 par)
y
Common stock.
Capital surplus.
Earned
surplus
43,825
668,461
30,000
77,419
400,000
43,800
1,387,066
91,940
Long Island Lighting Co.—Earnings—
Per. End. June SO—
1936—6 Mos —1935
1936—12 Mos.—-1935
Gross revs.(all sources)a$5,159,934
$5,402,486a$11165,051 $11,283,042
Total expenses (incl. re¬
x
&
exp.)
all
x
$4,952,865
-
After reserves of $3,315.
x
y
|
Total
3,391,806
Net income-
$734,724
no par
•
_
„
3,251,775
1,140,389
6,821,010
2,084,772
6,673,250
2,293,793
$1,010,321
$2,259,268
$2,315,998
Owing to a change in the date of entry of dividends from a sub. from
"paid" date to "record" date there is recorded herein an increase in these
periods of $73,302 for the first six months of 1936 and $73,013 for the 12
months of 1935-36. a Does not include amounts credited to "electric sales
suspense" of $307,575 for six months of 1936 and $307,575 for the 12
months of 1935-36.—V. 143, p. 761.
x
June—
Ry.- —Earnings.—
Gross from railway
1933
$384,950
130,35-x
85,237
$353,165
119,627
75,926
$343,543
2,209,448
2,106,757
1,983,772
$481,582
196,776
Net from railway
Net after rents
1934
1935
1936
,
122,529
110,090
66,382
From Jan. 1—
Gross from
railway.2,762,332
1,045,687
663,409
Net from railway.
Net after rents...
— _
711,543
709,791
715,272
456,775
.
470,522
428,959
—Y, 143, P. 592.
Lowell Gas Light
Co.—Earnings—
Taxes
382,129
53,689
120,933
43,941
100,591
.
(other than Fed. income tax)
$741,805
$736,045
419,341
— -
—
Maintenance
shares.—
1934
1935
Calendar Years—
Gross operating revenues
$4,952,865
Represented by 16,000
■
■
taxes.
Totalfixed charges-1,033,403
Operations
Total--
,
.
2328.
Louisiana & Arkansas
Liabilities—
Assets—
Property, plant & equipment.$4,714,740
Special deposits
1,302
,
the committee.
■
; , 1.
An affirmative vote of at least two-thirds of the outstanding London
Terrace bonds is required before the plan can be consummated.—V. 142,
tirement
Gross
.
,
30,997
$180,419
6,375
Earnings from operations—
Other
1934
_
$446,672
.
.
— -
V. 142,P. 3000.
Link-Belt Co. (&
Net operating income
Non-operating income
Subs.)- -Earnings-6 Months-
Period Ended June 30—
1936
Sales to customers.
Cost of sales.
_
—
—
Net profit on sales
Other income
12 Months
—
1935
$9,695,906
*8,943,386
1936
$6,700,232 $17,088,945
*6,216,682 *15,764,894
$752,519
171,123
Totalincome
Sundry charges to ncome—
Federal tax estimate
— ....
...
$483,549
141,803
$1,324,050
308,332
$923,643
54,210
111,111
$625,353
23,166
69,602
$1,632,383
105,141
209,144
x
*
Net credit to surplus to date——
per
share on common
Includes depreciation
x
In
$758,321
$0.96
$532,583
$0.64
$1,318,098
$1.63
223,691
230,986
Interest deductions
Provision for retirements
computing net income from operations above,
on undistributed profits.
no
provision has been
made for Federal surtax
•
$185,054
$179,343
65,732
37,487
4,064
.--4—------------
and replacements
_ _
Amortization of bond discount and expense
Federal income tax——
$190,235
67,316
49,556
4,064
15,000
—
Interest
on
5,181
advances to American Commonwealths
xl9.830
1
Net income.
Dividends.
:
-----
37,356
$91,890
152,405
Power Associates..
$91,655
137,164
$17,335 represents interest accrued to June 30,1935
which was written off against surplus in the Write-down of the balance due
from American Commonwealths Power Associates.
Of this amount
470,077
....
$172,171
7,172
J
.
Balance
x
Earnings
_
Balance Sheet Dec. 31, 1935
Liabilities—
Assets""*
.$3,731,609 1st mtge. 5 )4 % gold bonds due
Sept. 1, 1947——
13,439
Accounts receivable
169,425 Notes payable (bank).i.
Merch., matls. A supplies...
237,497 Notes payable (trade creditors)
Insurance deposits.....
—
3,163 Accounts payable.
Other assets
3,595 Instal. on obligations assumed
Prop., plant, equip., Ac
Cash in banks A on hand
Consolidated Balance Sheet
$950,000
205,000
69,740
80,648
—
——
June 30,'36
$
1,977,889
Assets—
Dec.31/35
2,165,378
Cash
S
June30,'36
Liabilities—
$
Accounts payable.
911,665
notes,
A Canad taxes—
2,309,114
estimated
2,948,531
4,815,033 Prov. for Fed. inc.
Accts.
A
3,271,184
Inventories
3,074,442
Securities owned.. 4,351,791
on
securities
Fixed
assets
cost.
—
Int.
in
5,460,467
172,600
56,152
Other assets & def.
charges
z
Treasury stock.
_
163,641
200,848
58,098
Acer. int. on long term
167,471
21,004
9,955
Prov. for social
256,439
526,051
Total
Reserves—
19,241,338 19,055,587
x After reserve for receivables of $341,363in 1936 and $246,832 in 1935.
After reserve for depreciation of $8,645,341 in T.936 and $8,445,002 in
1935. z Represented by one share preferred stock at cost in 1936 (2,285 in
1935) and 33,604 shares common stock in 1936 and 1935. a Represented by
shares of no par value.—Vv 143; p. 116.
.
Surplus
Total
(23-24 Corp.), N. V. City
Reorganization Plan—
Lee S. Buckingham, Chairman of the reorganization committee, repre¬
senting owners or approximately $2,000,000 bonds, on July 31 announced
ts approval of a new reorganization proposal under 77B proceedings of the
Bankruptcy Act and urged its acceptance by bondowners.
The new plan calls for a new issue of first mortgage bonds with fixed
interest at 3% and provision for an additional 1% interest if earned, to
be exchanged in equal principal amount for $5,500,000 outstanding bonds.
According to Mr. Buckingham, this meets the important objections made
by his1 committee which vigorously opposed the original reorganization
proposal submitted by the owner in August 1935.
Endorsement of the new proposal by the Buckingham committee promises
to make possible the completion by Nov. 1, 1936, of the financial reorgani¬
zation of the London Terrace Apartments decribed as the largest apart¬
ment house development in the world, bringing relief to owners of bonds
in default since May 1932.
In summarizing a report to the approximately 1,500 bondowners who have
given proxies to the Buckingham committee, the chairman contrasts the
original reorganization proposal of the debtor with the new plan, as follows:
"The debtor originally proposed a plan dated Aug. 12, 1935, which in
our view was inequitable because (1) it proposed splitting your bond in
two parts—one-half first mortgage and the other half second mortgage,
and providing only 2% fixed interest on your investment, and (2) gave
only 30% of the equity to bondholders, placing the debtor and an outside
speculative group in control of the property.
"Our Committee offered a plan which provided a par for par 4% bond?
at least 50% of the equity to bondholders with bondholder control; and a
.$4,267,167
Total—
$4,267,167
-
-V. 142, p. 4024.
Lucky Tiger-Combination Gold Mining Co.— -Earnings
on
—l—.
xl935
$171,847
121,486
$314,421
38,133
177,364
$48,327
7,919
$98,924
V 7,500
$49,852
$106,424
1,325
5,056
13,846
21,029
$58,438
1,980
3,101
5,065
8,998
$24,170
—
$177,921
' 8,108
$56,246
5,086
4,395
3,193
19,402
Gross value
Royalties.
Operating costs
Operating,
1934
xI936
3 Months Ended June 30—
Interest
2,750
750,267
1,524,050
569,496
,
Com. stock (par $25)
y
London Terrace Apartments
49,669
deposits A int. thereon
Deferred credit—
——
29,232
July 1, 1936
100,152
53,264
53,392
Reserves"
118,499
111,920
248,368 6)4% cum. pref.
stk. (par $100). 3,277,800
799,055
3,514,200
a Common stock.
10,584,738 10,584,738
Surplus—
3,848,864
3,648,833
..19,241,338 19,055,587
Co.
Due to Amer. Gas A Pow.
se¬
curity taxes
debt..
Customers' .meter A extension
— —
Total.--
Prepaid A deferred charges..
22,125
17,417
6,251
2,653
Accrued local taxes
Pref. stk. div. pay.
employees'
stk. pin:, trusts.
50,341
Prov. for cap. stk.
taxes
5,512,146
172,600
Associates..
Other accrued liabilities......
taxes,
36,884
42,640
at
In v. in affil. co
195,420
3,371
13,729
Federal income tax
Due from American Common¬
wealths Power
...
Accrued int. rec'le
y
S
801,434
Accr'd State, local
Ac., receivable.
x
Z>ec.31,'35
$65,168
$39,294
.— __
profit
......
Government bonds
11,481
110,514
8,586
'
Total profit
Miscellaneous expenses
Depreciation:
...
Income and capital stock taxes.
Minority interests
Net profit
x
Estimated .- -V, 142, p. 4024.
Ludlum Steel
A bonus
company,
Co.—5% Bonus to Employees—
of $38,000 will be distributed among 1,000
H.
G.
Batcheller,
President
of the
employees/of the
company,
announced
on
July 31.
The bonus will be
approximately 5% of the total wages of each employee
for the first six months of 1936. The additional compensation is granted
as a result of increased earnings of the company in the first half of the year.
Mr. Batcheller added that the action was In line with the company's policy
considering employee interest.—V. 142, p. 4345.
Mack Trucks,
Inc.—Earnings—
Period End. June 30—
Net prof, after deprec.,&c
Earns, per sh. on 597,335
shs.no par .com.stk.out
1936:—3
Mos.—1935
$404,412 loss$132,015
$0.67
Nil
1936—6 Mos.—1935
$511,889 loss$319,033
Nil
$0.85
Note—No deduction has been made for possible Federal surtax on any
undistributed profits.—V. 142, p. 4024.
/
Financial
928
McGraw Electric
Co.—Earnings—
[Including operations of subsidiaries liquidated prior to Jan. 1, 1935]
1936
1935.
1934
$3,432,158
$2,451,320
2,863,186
2,167,859
$791,763
30,806
$568,972
29,024
$283,460
44,710
22,200
40,848
$844,768
143,058
$638,844
102,052
12 Months Ended June 30—
Net
discounts,
after deducting
and allowances
sales
returns
$4,181,801
Cost of goods sold, gen., admin,
selling expenses
and
3,390,039
...
Net profits from operations
Other income
-
Adjust, of reserves set up in prior years
>
Net profits
before income taxes....
Provision for income taxes
.
<
,
(
,
.
$701,710
Net profits
Dividend requirements at full cumulative rates for a three months
period on stock outstanding June 30, 1936, amount to: Preferred stock,
$11,308; junior preferred stock, $2,053.
1nOC
Total unpaid cumulative preferred stock dividends at June 3(J, lyjb,
aggregate $84,814, which represents accumulations of $13.13 per share on
the 7% and $11.25 on the 6% preferred stock.
Dividends of $1.75 and
$1.50 per share on the 7% and 6% preferred stocks, respectively, were
paid Aug. 1, 1936.
T
on
Total unpaid cumulative junior preferred stock dividends at June du,
1936, aggregate $28,749, which represents accumulations of $21 per snare.
No dividends nave been paid on the junior preferred stock since Jan. 1,1933.
—V. 143, p. 594.
_
,
$328,170
32,703
Miles Detroit Theatre
See list given on
v
$536,792
Mississippi Power Co.—Earnings—
Cash
on
Accounts
hand and
in banks
§818,298
§863,960
340,423
697,434
Receivables
x
Inventories
Prepaid ins.,
303,331
543,562
36,713
46,803
31,879
62,088
§79,250
§69,607
109,773
73,871
parti¬
ally in dispute..
$5)
435,187
57,719
450,648
reserve
89,698
Int. & other fixed charges
Dividends on pref. stock
50,000
52,706
Balance
-V. 143, p.
1,250,000
266,760
1,250,000
267,004
733,098
£>r62,020
503,454
I>62,020
Paid-in surplus
Earned surp. since
Jan.1, 1933
Treasury stock..
z
Total
§2,499,139 §2,241,617
for losses of $41,711 in 1936 and $42,170 in 1935.
for depreciation
of $469,011 in 1936 and $422,189 in 1935.
shares (cost $71,221).—V. 143, p. 433.
special meeting held July 31 approved by
a
the required two-thirds majority a proposal
articles of incorporation to permit increase to
After
13,604
y
z
than
200,000 shares the authorized
The present limit is 100,000 shares.
96,350 shares outstanding. Directors propose to declare
a 100% stock dividend from the increase in authorized stock.
In increasing the capital stock, $481,750 will be transferred from surplus
to the capital account, bringing latter to $1,582,133 from the $1,100,383
shown at the close of 1935.—V. 143, p. 761.
are
now
Mansul Chemical Co.—Withdraws
See list given on
Registration—
first page of this department.—V. 142.
p.
1729.
Marianna & Blountstown RR.—Abandonment—
The
Interstate
Commerce
$7,825
$185,071
$101,253
73.200
447,713
253,152
Commission
on
July 18 issued
a
434.
Minnesota
certificate
permitting abandonment by the company of its so-called Scotts Ferry
branch extending from a point near Blountstown to Scotts Ferry, approxi¬
Valley Canning Co.—Accumulated Div.
Company paid a dividend of $1.75 per share on account of accumulations
the $7 cum. pref. stock, par $100, on Aug. 1 to holders of record July 28.
Dividends of $2 were paid on May 1 and Feb. 1 last, and on Nov. 1, 1935.
The last regular quarterly dividend of $1.75 per share was distributed on
Aug, 1, 1931.
Since this latter date the company paid eight dividends of
$1 per share each.
Accruals after the Aug. 1 dividend amount to $19.25
per share.—V. 142, p. 2835.
Pacific
Missouri
more
for amending the company's
capital stock.
There
1,807,920
37,202
21,068
on
McWilliams Dredging Co,—Stock Increase Voted—
Stockholders at
$2,683,239
1,912,827
102,400
452,834
253,062
6,100
Reserve for contin¬
....§2,499,139 §2,241,6171
After
67,278
55,000
res.
$223,115
150,918
$19,612
Prov. for retirement
of
taxes
$2,9.06,194
$249,601
161,806
9,000
38,094
21,088
revenue
Oper. expenses and taxes
Reserve for Federal
income
Gross
1936—12 Mos.—1935
1936—Month—1935
Period End. June 30—■
Capital stock (par
furn. & fix
x
payable.
gencies
Development work
Pats., trade-marks
and goodwill
reserve
[A Subsidiary of Commonwealth & Southern Corp.]
1935
Accrued liabilities.
sup¬
Land, buildings,
inach. & equip.,
tools, dies, &c.,
Total
1936
prior years
plies, &c.
Investments, &c._
y
Liabilities—
1935
Co.—Registers with SEC—
first page of this department.—V. 139, p. 2368.
$295,467
Balance Sheet June 30
1936
Assets—
1936
Aug. 8,
Chronicle
RR.—Old Bonds
Valid Lien—
Federal Judge George
H. Moore at St. Louis has ruled that the first
bonds of the old Pacific Railroad of Missouri, in the amount of
$6,996,000, dated 1868, were a valid lien against the Missouri Pacific RR.
The validity of the mortgage had been questioned by the Manufacturers
Trust Co. of New York, and Benjamin F. Edwards, trustees under the
1st & ref. mtge. bonds of the Missouri Pacific.
They contended the bonds
mortgage
outlawed under the statute of limitations
prescribed by Missouri law
provides that 20 years after a maturity date, a mortgage shall be
an extension was agreed upon.
The Court found that the
statute did not apply to a Missouri Pacific underlying mortgage established
in 1868 as security for the bond issue.
The Manufacturers Trust has 30 days in which to file an appeal.
Interest
on the bonds became due on Aug. 1, and funds were deposited with the
paying agents.
A similar protest is pending, by the same plaintiffs, against the second
mortgage bonds of the Pacific RR., in amount of $2,573,000 dated 1871.
—V. 143, p. 763.
were
which
barred unless
mately 14 miles, all in Calhoun County, Fla.—V. 135, p. 2827.
Marine
Missouri Power &
Airlines, Inc.—Withdrawal of Registration—
Exchange Commission upon the requests of the company
received on July 15 and 25, 1936, has consented to the withdrawal of the
registration statement.—V. 141, p. 4170.
Light Co.—Earnings—
1935
1934
$3,244,598
1,626,906
$3,044,154
1,498,215
154,068
122,346
201,438
194,765
Calendar Years—
The Securities
Total operating revenues
....
_
Operating expenses
Maintenance
j. _i
__
Mills,
May Hosiery
Inc.—Clears
The directors have declared
Up Back Dividends—
dividend of $1
share on account of
accumulations and the regular quarterly dividend of $1 per share ordinarily
due at this time on the $4 cum. preference stock, no par Value, both payable
Sept. 2 to holders of record Aug. 18.
This payment will clear up all
accrued dividends on the issue.
See also Y. 142, p. 3349.
'•
a
per
Taxes, except income taxes
Co.—Sales—
Interest
t
January
February
-
April
May.
-
June
July
—V. 143, p. 279.
Mead
-
1935
$1,056,813
1,068,570
1,346,646
1.539,118
1,542,407
Net income.
Divideilds
on
1,489,857
Dividends
on
5,940,099
Selling and administrative expenses
$6,462,681
4,755,598
571,179
%.
533,225
$1,375,455
Operating profit
Other income
$1,173,857
112,211
funded debt.
Other deductions
Federal and State income taxes...
Minority interest
$1,257,606
586,767
$404,442
588,552
Depreciation.
83,748
$1,487,667
604,273
218,291
147,438
83,685
29,536
Gross income
$261,128
587,895
$0.29
outstanding
share
$0.53
*
The aoove figures for 1936 do not include an estimate of the
surtax on undistributed profits.—V, 143, P. 762.
228,926
123,112
56,131
Federal
new
§14,241,591
4,298
Investments (at cost)
120,000
Cash on hand & in banks
988,365
"Working funds
14,425
a Accts. & notes receivable..
362,598
Materials & Supplies
199,047
Cash
1936—3 Mos —1935
$566,219
& taxes.
$586,462
451,001
Net
operating income
Other income (net)
$79,688
785
$58,602
$135,460
2,504
$123,934
1,320
Gross income...
$80,474
$58,804
63,514
64,008
$137,964
127,018
$125,255
127,722
Int. & other deductions.
income..
$16,959
...
202
def$5,203
$10,945
Note—No provision has been made for Federal surtax
442,284
def$2,467
undistributed
on
profits.
on
Dividend requirements at full cumulative rates for a three-months' period
stock outstanding June 30, 1936, amount to: Prior lien stock, $23,907;
preferred stock, $6,826.
Total unpaid cumulative prior lien stock dividends at June 30, 1936
aggregate $249,031,
which represents accumulations of approximately
$18.23 per share on the 7 % and $15.63 on the $6 prior lien stock.
Total unpaid cumulative preferred stock dividends at June 30, 1936
aggregate $93,295.50, which represents accumulations of $20.50 per share
on the 6% and $6 preferred stock.—V. 142, p. 3349.
„<*£***
Balances
deposit with trustees
in
banks
closed
under restriction
Deferred charges
Total oper. revenues
Oper. expenses and taxes
Net operating income
.
Other income (net)
1936—3 Mos.—1935
Gross income
8,800,0(10
Accounts payable
162,312
92,754
149,714
80,168
Accrued taxes
Accrued interest
Consumers'deposits
1,499
638,353
Sundry
&
current
deferred
45,949
Contributions
by
consumers
_
a
§16,570,178
for construction of property
Reserves
790,898
334,998
Total
$16,570,178
53,384
After deducting reserve for
uncollectible accounts of $98,736.
b Repre¬
by 35,000 no par shares,
c Represented by 75,000 no par shares.
138, p. 4469.
—V.
,
to
vote
Split Stock—
10
increase in the authorized common stock from
132,500 shares of no par value to 300,000 shares of $2.50 par.
Latter
would be offered in exchange for the present common on a basis of two for
one.
Stockholders also will be asked to approve a reduction in the au¬
thorized preferred to 6,500 shares from 10,000 shares, 3,500 shares having
been retired.—V. 142, p. 4027.
on
a
proposed
Mobile Gas Service
Corp.—Earnings—
'
Calendar Years—
Gross operating revenues
1935
1
1934
Merchandise and jobbing (net)
Total operating revenues
Operation
$736,045
$476,519
25,150
$741,805
.$456,668
31,703
$501,670
*
Operating revenues—Gas
$488,371
300,083
314,152
17,692
Maintenance
Uncollectible accounts
9,231
Cr277
45,870
$123,368
Net operating revenues.
Non-operating income (net)
6,568
46,734
Taxes
$126,618
637
3,546
1
19,933
$127,256
22,713
$106,981
$104,542
$126,914
Provision for retirements
1936—6 Mos.—1935
$197,038
129,123
$190,766
126,811
$404,028
257,638
$391,597
246,010
$67,914
$63,955
$146,390
$145,586
163
347
374
Gross income
855
$68,077
65,934
$64,303
64,813
$146,765
130,768
$146,442
129,622
$2,143
def$510
$15,996
$16,820
Note—No provision has been made for Federal surtax on undistributed
profits.
$3,260,000
2,800,000
pref. stock
sented
Annual
interest requirements on $916,500 prin¬
cipal amount of outstanaing 1st mortgage 5%
bonds, due Oct. 1, 1956
sundry
series
bonds,
Net income-
210,000
300,000
Surplus
j
Remainder—annual
Int. & other deductions.
cum.
Funded debt
liabilities
or
Balance
Michigan Public Service Co.—Income Statement—
Period End. June 30—
$454,014
The company has called a special meeting of stockholders for Aug.
1936—6 Mos.—1935
$282,648
224,045
Net
on
cCommonstock
Mock, Judson, Voehringer Co., Inc.—To
$299,303
219,614
_i_
5,538
Liabilities—
b §6
1,539
per
expenses
stock
rights,
plant,
franchises, &c
&
Property
Michigan Gas & Electric Co.—Income Statement—
Oper.
common
Total
Net income
Total oper. revenues.
$482,115
210,000
255,000
r.
preferred stock
20,109
Balance Sheet Dec. 31, 1935
$7,886,735
Period End. June 30—
Crl,320
257,343
.
...
Assets—
Cost of sales
Common shares
$1,160,684
425,000
20,118
5,765
Crl,192
254,976
....
Appropriation for retirement reserve
1,585.457
June 13, '36 June 16, '35
on
...
Interest during construction
Corp.—Earnings—
Interest and taxes
-
funded debt
on
Amortization of bond discount & expense
Other interest charges
-
24 Weeks Ended—
Net sales
Earnings
1936
$1,094,442
1,154,648
1,312,992
1,620,954
1,775,527
1,797,441
1,742,439
-
-
March
*
428,211
Gross income
McLellan Stores
$1,189,994
__
Non-operating revenues
.
68,655
$1,160,172
512
_
Net operating revenues
■
Month of—
72,700
$1,189,485
509
Income taxes
'
"
income
A
and
due
net
charges
series
Oct.
income
1,
B
1st
1956
available
45,825
for
and
interest
on
mortgage income
$61,156
Note—The above comparison of gross income for the year's ended Dec. 31,
1935 and Dec. 31, 1934 includes the earnings of the predecessor company,
Mobile Gas Co., for the period prior to Nov. 1, 1934.
Volume
Financial
143
1934
Common
Due fr. affil. cos..
Accrued
_
_
Merchandise,
1,124
2,857
22,015
10,774
22,296
15,532
investments
8
$430,701
1,833,000
$430,701
1.833,000
1,194
43,848
shares no par)..
Funded debt
36~464
1,601
18,247
18,533
6,003
403,037
16,887
19,925
19,269
6,103
389,882
31,227
Notes
payable
Accounts payable.
Due to affll. co
Consumers' dep
accts
Special deposits.
Prepaid insurance,
taxes, &c
24
21,115
8,051
7,993
Other def. items..
846
Reserves
1,637
8
881
terials & suppl..
Appl.
on
Misc.
rental.
__
.
„
x
Int. on Inc. bonds
such
computed
unrealized
on
Accrued interest
$2,773,054 $2,768,210
Total
1st mortgage series
the
on
record
there
exercisable at or before 3 p. m. Aug. 3.
National Airport Corp., a wholly-owned
(Mo.)-*—Registration Sus¬
Association
Commission
Exchange
and
suspended on Aug.
registration of 50,000 shares of common stock
of
Oct. 2, 1933.
Robert P. Reeder, a trial examiner,
and inaccuracies in the application for registration.
at hearings, the report
Monsanto Chemical
added
the
Prov.
for
24,465
probable
14,500
53~708
Prov. for Fed. inc. taxes
15,565
$1,035,730
1,114,410
$0.92
and Federal taxes, &c.
9,478
1,500
Other income
Net profit for 6 months
—i---
$923,125
$2,142,423
1,114,410
$1.86
974,133
$1.89
Balance Sheet June 30
$1,934,724
974,133
Co. of New York has been appointed agent to accept
subscriptions to common stock ($10 par value).
Stockholders of record
July 28, 1936 will be entitled to subscribe for one additional share at the
price of $50 for each four shares held.
Subscriptions will also be accepted
by the London office of Guaranty Trust Co. of New York.
The closing
date for subscriptions is 2 p. m. Eastern Standard Time, Aug. 17, 1936.—
V. 143, p. 763.
$4,919
$5,911,718 $5,359,910 Accruals
61,208
2,300
3,438 Res. for Fed. taxes
Bond int. receiv..
2,386,761
4,790 x Capital stock
Cash in bank.....
6,041,302
603,515
460,390 Paid-in surplus
Earned deficit..— 1,975,761
Furniture & fixt__
'
895
Total
x
Manufacturing Corp.—Preferred Dividend—
dividend of $1.75 per share on account of
pref. stock, no par value, payable Sept. 1
The company states that this dividend is for
the period from July 1, 1935 to Sept. 30, 1935.—V. 143, p. 434.
The directors have declared a
accumulations on the $7 cum.
of record Aug. 15.
May
$1.14
share.
per
143, p. 763.
June
Nil
Statement of
1935
$1,803,350
1,890,864
2,320,436
3,001,322
3,089,387
2,266,253
2,575,710
2,420.153
$1,554,500
1,584,436
2,246,132
2,060,363
2,367.499
2,583,924
2.465,993
$1,129,575
1,222,990
1,313,762
1,628.753
1.661,437
1,808,328
2,973.840
2,354,196
2,075,916
1,804,118
-
June
July.....
....
1933
—V. 143. p. 280.
-
Spring-Filled Corp.—To Pay 75-Cent Div.—
a
dividend of 75 cents per share
the capital
on
stock, payable Sept. 15 to holders of record Sept. 1. A dividend of 50 cents
per share was paid on May 1, 1935, this latter being the first distribution
made since April 1, 1930 when 50 cents was also paid.
Prior to then,
quarterly dividends of 75 cents per share were paid.—V. 141, p. 2743.
Narragansett Electric Co. (& Subs.)—Earnings—
Calendar Years—
1935
1933
1932
,
revenuefll,782,092 $11,509,287 $10,962,039 $10,085,813
104,673
127,113
111,331
141,893
Profit before Federal income tax..
Prov. for estimated Fed. income tax.
Net profit
Net capital surplus at Jan. 1..,
Profit on own bonds purchased
5,134,369
4,803,310
4,331.702
581,299
536,624
438,565
4,056,201
478,427
1,264,313
1,258,378
1,152,280
904,705
1,784,759
865,000
Depreciation
Net consol. earnings..
$5,150,823
1,715,384
825.000
$5,038,088
1,788,292
862,499
$4,788,374
1,571,429
728,000
$2,257,025
$2,610,439
$2,387,298
$2,488,945
shares class A and B stock
on
hand
$371,731
1,332,377
(customers).
from
123,491
82,371
684,152
companies
Inventories
insurance
taxes,
316,751
acct.
affil. co.
21,508
_
from
rec.
(not
a
sub.)
and
progress
discounts
Accounts
payable to sundry
affiliated
companies
(not
subsidiaries)
payable
Accrued taxes
Consumers' deposits..
reserves
24,124,350
322,242 Capital sin-plus
3,743,353
Consolidated earned surplus.
942,194
1,606,850
Total
payable Jan.
are not
1,
1936,
$72,857,051
had been made for payment of $755,000
by deposit of like amount with trustee.
liabilities.—V. 143, p. 435.
included in the assets or
(Conde) Nast Publications, Inc.—Earnings—
Per. End. June30—
Net loss after charges &
taxes
1936—3 Mos—1935
$77,497
$63,524
Per. End. June 30—
Gross revs.(all sources).
exps.
$581,235
$200,919
$491,418
89,802
15
$1,488,251
1936—6 Mos.—1935
$5,971 prof$30,043
Lighting Co.—Earnings—
1936—6 Mos.—1935
1936—12 Mos.—1935
$1,854,209
$922,039
$911,571
$1,842,345
728,705
159,210
697,421
165,513
1,449,054
324,879
(incl. retire.
►
exp.) & all taxes
Total fixed charges
Net income
$34,123
$48,636
cal taxes, &c
Federal income tax
1,560,971
911,823
License
720,381
3,956,185
328,771
Res. for gen. cont's
$68,412
3,088,212
&
—-18,777
tr'marks,
less
amortiza'n.
Other
40,384
assets—less
reserves
61,730
64,246
174,435
$8,098,076 $5,067,523
Total
x
Before
estimated
Federal
depreciation reserves:
165,879
44,533
68,447
19,640
34,507
40,000
83,123
payable
Class A
com.
Class B
592,000
2,629,567
503,690
stock
1,147,978
com.
652,316
15,000
1,553,251
15,000
238,919
stock
Total
income tax.
27,000
40,714
6% s. f. bds., 1943
784,000
7% 1st pref. stock. 3,510,967
5% 2d pref. stock
($20 par)..
503,690
($1 par).
Capital surplus.*.
and
$163,315
agreement
($5 par)
«...
$263,982
68,083
payables, lo¬
Mortgage
Total fixed assets y
$8,098,076 $5,067,523
y
deducting depletion
After
1936, $575,851; 1935, $557,534.—Y. 142, p.
3351.
•
National
Oil
Products
Co.—Admitted
to
Listing
and
Registration—
The New York Curb Exchange has admitted the common stock, par value
$4, to listing and registration.—V. 143, p. 436.
Petroleum Corp.—Stocks Offered—Pressor &
New York, are offering 577,852 shares ($1 par)
preferred stock and 288,926 shares common stock (par 1 cent)
in units consisting of 2 shares of pref. and 1 share of common,
priced at $10 per unit.
The corporation will offer 125,000
units and General Dealers Corp., a stockholder, will offer
163,926 units (now outstanding).
Stock offered as a specu¬
National
1,397,717
350,093
lation.
Proceeds from the sale of the 163,926 units will
$106,397
accrue
to the stock¬
holder and not to the corporation.
Total
-Y. 142, p. 3516.
365,278
Acer,
1935
1936
340,390
U. S. Govt, bonds
Pats.
Liabilities—
Accounts payableDividends payable
$250,032
Lubin,
—V. 142, p. 3684.
Nassau & Suffolk
1935
1936
At cost
133,772
224,696
462,713
95,123
63,432
33,390,500
8,408,279
63,636
28,958
Note—At Dec. 31,1935, provision
Total
$832,829
90,250
541,660
$1,283,982
Co.'8 pref. stock—
Common stock ($50 par)
$72,857,0511
Total
These items
1,080,200
equivalent to $1.12 per share on the 244,596
outstanding, and compared with 66 cents
the present capitalizztion.
certifs.
cost
$1,176,042
4,119 Casualty & insurance
67,991,457 Suspense credits
in
& expenses
interest
536,783
23,000
now
Inventories—at
Association &
Reserves for depreciation
(not
current)
debt
Power
Funded debt
an
Plants & properties
Construction work orders
Unamortized
land
Other accrued expenses
Restricted deposits & cash in
&
payable to New Eng¬
Other accounts
&
other expenses.
sinking funds
Notes
accrued Interest
sundry
Other notes & accts, rec
Note
$184,330
395,070
1,835
Comparative Condensed Balance Sheet June 30
Assets—
Cash
Notes & accts. rec.,
less reserves
Liabilities—
Assets—
Cash in banks &
Prepaid
$296,046
share earned in the first half of 1935, adjusted to
—at cost.
Consolidated Balance Sheet Dec. 31, 1935
affiliated
$207,329
x After selling, administrative and other expenses, but before deducting
depreciation and depletion.
of deposit
rec.
375
$334,046
38,000
20,201
$195,302
11,653
before int.,
earns,
deprec. & dividends $4,906,784
Accts.
832
$473,382
65,000
_ _
June 30---
These earnings for 1936 are
Interest & amortization.
rec.
$324,140
9,073
$1,623,471
Divs. declared—Curr. on pref. stock.
135,220
Accumulated on preferred stock—
Sundry deductions
;
a
Accts.
$228,841
13,337
Total
Federal in-
cometax)
Net
'
-
Excess of sale price of 20,800 shares
class A com. stock, over par value.
Net capital surplus
Maintenance
(incl.
Interest earned
16,913
20,884
$408,382
134,889
Balance
$361,937
23,790
38,821
$442,402
9,403
21,577
for doubtful accts.
$263,980
35,139
$505,013
bonds
reserves
$401,193
39,256
$11,886,765 $11,636,400 $11,073,370 $10,227,706
Total income..
Exp. other than maint.,
depreciation and taxes
Taxes
1934
on
Miscellaneous income items
•
The directors have declared
$569,852
64,839
Operating profit
Interest
Add'ns to
1934
1935
1936
3,182.944
April
May
Other income..
Income—6 Months Ended June 30
Profit from
operations
Depreciation and depletion.
x
1936
$2,003,071
2,310,918
~
Gross operating
National Gypsum Co.—
Nil
1934
March.
1,200,100
1933
(G. C.) Murphy Co.—Sales—
of—
January-February
2.301,405
1.737,350
1,561,800
143, p. 595.
<
Month
Nachman
-
$1,270,000
1,179,375
1,562,100
1,369,225
2,407,100
1,799,300
*
April
loss$72,200 loss$246,339
$5,608
$0.04
$171,692
charges
Earnings
1934
$1,076,000
1,005,550
1,310.550
1,103.475
2,216,800
2,082,475
948,200
3,070,125
.
March
Net profit after taxes &
—V.
1935
1936
$1,825,375
1,591,675
3,147,775
January
February
—V.
1934
1935
Co.-—Domestic Gross Orders
Month of—
July
Munsingwear, Inc. (& Subs.)—Earnings—
6,041,302
2,615,554
$6,518,428 $5,828,528
Total
$6,518,428 $5,828,528
$1,253
14,767
2,386,761
Represented by 477,352 (no par) shares.—V. 143, p. 118.
National Cash Register
,
1936
1935
1936
Liabilities—
1935
1936
Assets—
Invest, at cost
Accts. receivable-*
•
6 Mos. End. June 30—
681
$2,806,558
$2,375,325
$2,615,554
$1,975,761
Deficit, June 30-
1936—6 Mos.—1935
(Philip) Morris & Co., Ltd.—Subscription Agent—
to holders
900
$97,636 loss$479,253
2,462,195
2,327,305
10,767
$26,581
2,642,135
$342,503
2,318,263
of Swan Corp.]
$0.95
$480,833
$32,207 prof$79,226
41,293
17,495
18,410
35,793
Deficit from oper. Jan. 1
Prov. for prior year's tax
The Guaranty Trust
Mullins
■
prof$295,731
Dividends received
Interest received
.
1936—3 Mos.—1935
32,008
42,418
loss
investment in sub.
profit after deprec.
Shares capital stock—_
Earnings per share.---—V. 143, P. 763.
$137,209 loss$448,826
$6,758
46,597
The registrant failed
Co.—Earnings—
[Including Subs, and Also Includes Subs,
Period End. June 30—
Net
4,
this company filed
had found omissions
„
corpo¬
rate expense
Total loss
Securities
1
■
,
$396,036
ties (net)
Management and
-
to appear
;
subsidiary which owns and
Profit from sale of securi¬
pended—
The
of
July 9,1936 of 19,095 shares of the stock of Pan American Airways
a share, held in the portfolio.
In connection with this offering,
were mailed
to stockholders on July
11 subscription certificates
on
Corp. at $50
on
Brewing
held.
securities
of
appreciation
..
bonds amounted to $131,473 at Dec.
Monroe
taxes
It includes the investment in airport properties of $1,395,799 at cost.
On June 24, 1936 directors authorized the offering to stockholders
the Washington Airport properties, shows a net profit for the
six months, after all charges, of $5,356.
Washington Airport, Inc., and Washington Air Terminals Corp., owner
of its stock, have remained inactive.
1933
1934
1935
6 Mos. End. June 30—
1936
A and series B income
31, 1935, of which $16,887 has been
provided for.
Accrued interest on these bonds is payable upon maturity
of the principal of these bonds if unpaid prior thereto.—Y. 142, p. 3350.
x
for
share.
per
operates
$2,773,054 $2,768,210
Total
the stock as of June 30, 1936 was
This figure is based on the market value as of June 30,
1936 of securities having an active market and on the estimated value of
securities not having an active market, less allowance for estimated Federal
income taxes other than surtax on undistributed profits, and less allowance
The indicated liquidating value for
$15.27
(5,000
Service exten. dep.
ma¬
'
1934
1935
Liabilities—
'
plant &
equipment
$2,564,496 $2,533,457
Cash
45,771
24,159
Notes receivable.
2,562
4,258
Accts. receivable.
115,947
135,237
Tax
anticipation
326
1,521
Nwarr. (atcost)..
Corp.—Semi-Annual Report—
National Aviation
Balance Sheet Dec. 31
1935
Assets—
Property,
929
Chronicle
net proceeds
company,
purposes:
from the sale of the 125,000 units to be sold by the
which are estimated at $1,000,000, win be used for the following
.
930
Financial
Chronicle
Aug. 8,
1936
(1)
Payment in full of the balance of the item of $235,744, of the pur¬
chase price of the properties acquired under the agreement of Nov.
29,
1935, with General Dealers Corp., $175,744.
(2) Payment in full of the notes secured by liens on the properties in
Jones, Fisher, Howard and McMullen counties, Texas; in Jefferson County,
Okla,, and in Louisiana, $240,000.
(3) Drilling wells on the properties below named at estimated
drilling
costs to be borne by the company in the following estimated
amounts:
Five wells in Louisiana, $125,000; four wells in Fisher
County, Texas,
$84,000; four wells in Howard County, Texas, $72,000; 10 wells in McMullen
County, Texas, $12,500; one well in Victoria County, Texas,
$15,000;
two wells in Refugio County, Texas, $60,000; two wells in Jefferson
County,
Okla., $15,000; total, $383,500.
The balance of these net proceeds, estimated at
$152,817, is proposed
to be used for payment of current accounts and for
general working capital.
Upon completion of the present financing, the authorized capitalization
Period Ended June 30, 1936—
Gross profit before depreciation
National Power & Light Co. (&
Subs.)—Earnings—
Comparative Statement of Consolidated Income
Period End. June 30—
1936—3 Mos —1935
1936—12 Mos —1935
Operating revenues....$18,740,504 $17,556,880 $74,600,618 $71,607,196
Oper. exps., incl. taxes. 10,585,909
9,760,513
41,966,000
39,224,965
Net revs, from oper..
$8,154,595
123,702
Other income
Total income
$8,278,297
Other income deductions
$7,796,367 $32,634,618 $32,382,231
108,100
371,204
419,923
103,553
$8,174,744
Gross corp. income
Int. to public and other
deductions
$7,810,306 $32,617,908 $32,472,392
3,091,135
Cr3,281
_
Int. charged to constr..
Property retirement res.
appropriations
$7,904,467 $33,005,822 $32,802,154
94,161
387,914
329,762
3,106,446
Cr3,551
Balance
$3,552,898
Pref. divs. to public
(full
div. requirements
12,413,564
Crl8,744
12,630,710
Crl7,275
1,453,479
1,533,992
__
6,122,698
1,515,853
6,063,330
2,934
12,081
15,622
issued
to be issued
$308,272
Balance Sheet
Assets-
June 30 '36
Cash
a
Notes & accts.rec
receivable
$103,707
11,928
15,500
269,524
15,500
50,000
195,127
5,047,996
notes rec. sold to
Comm. Inv. Tr_
Notes
in
claims
for
plan
affil. & subs....
164,329
71,340
309,067
Deferred
&c.,
122,950
2,311,488
2,000,000
__
c
340,216
251,000
251,000
255,725
non-int.
1946
notes,
expenses
137,475
Oper. properties2,268,379
b Non-oper. prop. 2,000,000
Total
payable
Prov.
agst. Nat. Rad.
Imp. bank dep.,&c
inv.
196,875
1,170,286
40,099
26,249
15,487
7,000
63,176
Note receiv. 1937&
Dec. 31 '35
Corp., &c
176,165
15,487
7,500 15-yr. 5% Inc. deb 5,187,633
63,194 Oblig. under reorg.
183,958
1,523,977
40,099
32,571
Prepaid Ins., &c._
N. Y. State High¬
way bonds
to
June 30 *36
payable
Accrued accounts.
Prov. for losses on
Inventories
Adv.
Accts.
$325,978
27,205
$355,645
634,969
750,883
Value of life insur.
Def'd exper.,
Liabilities—
Lee. 31 '35
$101,349
Oth. notes & accts.
$7 pref. stock
stock.
255,725
Surplus
407,094
d Common
e
$7,288,686 $7,016,084
Total
63,794
63,794
681,090
$7,288,686 $7,016,084
After allowance for claims and doubtful notes and accounts of $87,569
a
in 1936 and $65,428 in
1935.
b After reserves,
c Represented by 51,145
no par shares,
d Represented by 255,178 no par shares,
e Excess of book
value of net assets at Sept. 27, 1932, over principal or stated value of se¬
curities issued or to be issued thereagainst.—V. 142, p. 3685.
National Rys. of Mexico—Earnings—
(Mexican Currency)
1936—Month—1935
10,215,117
9,600,038
8,107,171
7,463,834
oper. revenues.
oper. expenses.
1936—5 Mos.—1935
50,967,348
41,889,523
47,578,664
35,719,498
30,263
657,810
2,333,523
383,014
1,333,756
$1,735,145
$8,024,979
$7,642,800
revenue.
Deductions
5,024,979
59,942
$7,642,800
78,967
Feb. 1..
Feb. 29
Mar.
28
$2,075,751
$1,750,525
45,300
40,546
337,207
Total income
337,388
$8,084,921
190,384
1,355,924
$7,721,767
204,485
1,356,037
April
July
con-
full requirements for the
respective periods (whether
paid or not paid) on securities held
by the public.
The "portion applicable
to
minority interests" is the calculated*portion of the balance of
represent
income
applicable to
minority holdings by the public of common stock of sub¬
Minority interests have not been charged with deficits where
income accounts of
subsidiaries have so resulted.
The "net equity of Na¬
tional Power &
Light Co. in income of subsidiaries" includes interest and
sidiaries.
earnings which accrued to
common
8. I0,88*)8, where income
securities held, plus the proportion of
stocks held by National Power & Light
Statement of Income and
Surplus
subsidiaries
have
(Comapny Only)
1936—3 Mos.—1935
1,935,038
July
1,680,633
1,937,089
1,363,375
1,311.105
a
1,153,923
dividend of 50 cents per share on the com¬
paid
on
March 15, 1935.
The March 15,
1935 distributions
were
the
on the common stock since Jan. 1, 1931 when a regular
quarterly
payment of 40 cents per share was made.—V. 143, p. 280.
January
February
$1,689,997
337,388
$5,295,759
1,355,924
$7,296,158
April
May
(J. J.) Newberry Co., Inc.—Sales—
Month of—
March
1936
$2,446,502
2,752,292
2,968,868
3,690.855
3,966,016
4,154,227
3,996,269
-
June
July
$995,460
$1,352,609
$3,939,835
$5,940,121
Summary of Surplus tor the 12 Months Ended June 30, 1936—Earned
surplus, July 1, 1935, $7,122,581; Add: Balance from
statement of income
V* !2 months ended June 30, 1936 (as above), $3,939,834; total, $11,062,*-
1,300,759
1,707,159
1,579,183
1,157,525
1,659,109
1.435,896
first made
$7,500,643
204,485
1,356,037
1933
$793,048
831,719
924,977
1.278.039
stock, no par value, payable Sept. 15 to holders of record Aug. 31.
This compared with a dividend of 37 M cents per share paid on June
15,
last, and 25 cents per share each three months from March 15, 1935 to
and including March 14, 1936.
In addition, an extra dividend of 50 cents
$5,486,143
190,384
Bal. carried to earned
surplus
1934
$984,596
988,901
1,562,651
mon
$1,730,543
40,546
Net income before int.
'
Dividend Increased—
The directors have declared
$1,377,967
& other deductions$1,332,667
Interest. & other deduc.
337,207
$4,928,125
4,650.848
5.062,463
5.022,922
4,843.404
4,743,075
4,881.542
1935
$993,887
1,053,897
1,335.358
1.565,392
1,612,224
1,780.122
$7,421,676
78,967
45,300
1933
$4,344,288
4,735,402
4,747,235
4,608,491
4,659,679
4,796,725
4,626,518
Inc.-—Sales—
June
$5,426,201
59,942
taxes
10,908,310
11,289.01?
1934
<
4,885,980
5,037,572
4.588,974
1936
$1,086,449
1,207.599
1,334,294
March
$1,715,163
15,380
Total
1935
April
May
$1,336,094
41,873
°ther
7,371,848
11,282.817
$4,387,876
4,929,167
4,898,378
4,816,420
Neisner Brothers,
Month of—
was
1936—12 Mos.—1935
23
18---
January
February
on
accounts of individual
deficits for the respective periods.
Period End. June 30—
Gross income:
1,894,595
1936
-
25
May
sol,
preferred dividends paid or earned
11,289.017
$5,135,421
4,662,014
4,733,906
4,582,700
4,349,416
4,628,100
4,504,609
June 20
earned surplus. $1,693,244
$1,372,591
$6,538,613
$6,161,245
Notation—All intercompany transactions have been
eliminated from the
aj>?ve- s^ement.
Interest and preferred dividend deductions of sub¬
From subisidaires....
1,744,379
11,282.817
_
112
National Tea Co.—Sales—
$1,735,145
15,380
taxes...
Int. & other
deductions.
191,566
433,175
—
Four Weeks Ended—
$2,033,878
41,873
shown above)
Other income
Expenses, incl.
174,356
537,922
■
.
Net oper. income
Kilometers operated-..
—V. 143, P. 119.
.
Expenses, incl.
or
Includes $1,050 adjustment of reserves—accounting and legal fees.
a
Other income
income of subs
$2,033,878
Nat. Pow. & Light Co.Net equity of National
Power & Light Co. in
income of subs,
(as
in
$129,758
Loss, incl. provision for interest on income deb-
6,063,402
3,190
Net equity of National
Pow. & Light Co. in
j
loss$13,000
77,110
109,673
108,487
Tax accruals & uncollect.
1,515,830
...
resulted
$21,241
45,181
51,574
54,243
.
Per. End. May 31—
unearned)
Portion applic. to minor¬
ity interests
sidiaries
loss$26,880
13,880
Profit before other exps., depr. & int. on debs..
Other expenses, incl. maintenance of idle properties
Railway
Railway
or
Balance carried to
$14,070
7,170
Allowance for depreciation of operating properties
Prov. for accrued interest on income debentures—
6,137,133
ap¬
a$391,082
417,962
Operating profit before depreciation.
$3,253,932 $14,100,390 $13,721,824
plicable to respective
periods whether earned
6 Months
$248,947
234,877
Other income
of the company will consist of 5,000,000 shares of
$1 par value preferred
stock, 577,852 shares of which will be outstanding, and 5,000,000 shares of
one cent par value common
stock, 3,288,926 shares of which will be out¬
standing.
Corporation is engaged in the leasing and development of oil,
gas and
mineral properties in Texas, Louisiana, and
Oklahoma, the drilling of wells
thereon and the sale of oil, gas and other minerals
produced from these
properties.—V. 142, p. 2509.
3 Months
1935
$2,345,084
2,528,594
3,021,004
3,521,592
3.365.769
3,520,541
3,428,849
1934
$2,360,766
2,294,272
3,329,179
2.876,783
3,408,136
3,608,094
3,122,802
1933
$1,883,121
1,976.225
2,117,309
2,710,174
2,740,152
2.900,065
2,934.565
—V. 143, p. 281.
,
£oUrC,t: Divs- on $6 pref. stock, $1,678,289; dividends
stock, $3,546,476; earned
surplus, June 30, 1936, $5,837,651.
4.
1
on
common
Assets—
1935
$
1936
$
Investments ...140
764,969 140,714,875
Cash
10
Time deposits
2
U. S. Govt. sees.
,509,030
,650,000
185,402
State, munio.
9,737,104
4,750,000
260,465
&
oth. short term
rec.
100,020
to
500,000
183,077
8,419
Accts. rec., subs.
Accts. re£., other
564,228
186,870
14,276
debt
disct. andexp.
seriesA...
gold
payable.
accts..
Sundry debits..
147,456
2,649,350
147,455
125,,839,095 125,838,795
inv.
in
9,,500,000
9,500,000
15, 000,000
419,574
8,293
382,675
15,000,000
419,570
$153,280
150,015
604
Surplus
Co..
,
Other income.
i-
Interest
funded debt..
Other interest...
Provision for Federal income tax
of debt
miscellaneous
discount
deductions.
281,378
564,228
281,378
5 837,652
7,122,582
and
National Radiator Corp. (Md.)—N.o Interest
on
10,300
Assets—
.
side of the coupon, said
coupon
becomes void after Sept. 1, 1936.
However, the interest on the debentures
continues to accrue and to accumulate from March 1, 1931, until
paid.
10,569
$46,001
21,038
Liabilities—
Accounts receivable.
Unbilled water service
x
1st mtge.
5% bonds, series A,
due Aug. 1, 1950..
Accounts
Materials and supplies
Other assets..
Dividends
11,134
2,490
...
Consumers'
payable.
service
Due to affiliated companies
Total
5,785
Contributions for extensions..
50,092
7% cum. pref. stk. ($100 par).
Common stock ($100 par)
300,550
476,000
109,565
92,479
of $12,778.—V.
Dick
Mining
115,653
215,903
surplus
surplus
$3,019,014
Newman
10,000
Consumers' extension deposits
Retirement reserve.
Earned
draws
767
42,645
117,703
Capital
reserves
5,259
deposits..
3,441
of preferred stock
After
7,098
Accrued liabilities
894
Unamort. debt disc. & expense
Other deferred charges
Commission & expense on sale
x
$1,593,000
payable
28,249
15,800
Debentures
adjourned regular meeting of the directors held on
July 30, the
that, up to June 30, 1936, inclusive, there were no net
earnings out of which to pay interest on the coupon dated
Sept. 1, 1936,
attached to the corporation's
15-year 5%. income ddbentures-, due March
1, 1946.
reverse
and
$52,509
21,038
an
board determined
the
5,722
7,222
expense
Property, plant & equipment_$2,793,270
Special deposits
1,080
Cash
39,166
Prepayments
Machinery Co.—Listing—
on
$150,619
77,150
10,937
5,962
78,387,
;
Balance Sheet, Dec. 31, 1935
500,000
The New York Curb
Exchange has approved the listing of 11,500 addi¬
tional shares of common
stock, no par value, upon notice of issuance.—
V. 143, p. 119.
According to the legend
73,234
861
on
Amortization
26,021
$154,141
-
Preferred stock dividends, paid
157.768,666 159,124,645
Total
..157,768,666 159,124,645
x Represented
by 279,716 shares $6 pref. stock in 1936 (279,713 in
1935)
(value in liquidation $100 a share), and
5,456,117 shares of common stock.
—V. 142, p. 4348.
At
Earnings from operations
•
Net income
Total
National Rubber
Taxes (other than Federal income)
...
'-
Birm.
Reserve
1934
$359,148
98,188
11,689
16,725
381,369
junior
of
1935
$362,053
93,383
12,684
30,000
72,705
liabil.
sec.
revenues
General operations
Maintenance
Gross income
for add'l cash
Electric
2 ,621,134
$
debs.,
Divs. declared..
Accrued
Operating
debs .7—
Conting.
Co..
Unamort'd
value)
gold
Accts.
sec.
of Birmingh'm
Electric
par
6%
series B
199,178
Junior
1935
S
Cap. stock (no
5%
securities
Conting. right
Liabilities—
x
Co.—Earnings—
Provision for retirements.
Balance Sheet June 30 (Company Only)
1936
New Jersey Water
Calendar Years—■
141,
&
Total
p.
$3,019,014
929.
Development
Co.—With¬
Registration—
See list given on first page of this department.—Y, 142,
p. 3862.
Volume
Financial
143
New Brunswick Fire Insurance Co.—Extra Dividend—
£
The company paid an extra dividend of 25 cents per share in addition to
semi-annual dividend of 50 cents per share on the capital stock, par $10,
Aug. 1 to holders of record July 24.
A semi-annual dividend or 75 cents
paid on Feb. 1, last, and prior thereto regular dividends of 50 cents per
share were distributed each six months.
In addition extra dividends of
on
debts of the railroad.
The petition was approved by Federal Judge Carroll
C. Hincks subject to final approval by the creditors and by the Interstate
Commerce Commission.
A meeting to discuss the issue has been called
for Aug. 15.—V. 143, p. 437.
was
15 cents
were
.
_
Assets——
$1,264,819
...
revenue
1
$309,241
Investments
receivable.
Prepayments
Total
Reserve for
depreciation
Total
$5,784,840
70,831
1,188,174
20,000
87,811
72,304
73,034
$7,296,995
2973.
Newport Industries, Inc. (Del.) (& Subs.)—Earnings—
Period Ended June 30, 1936—
3 Months
$1,057,346
765,403
6 Months
$3,686,636
2,600,034
$545,145
& repairs (excl. of repairs &
replacements charged to reserve to
depreciation)
Provision for depreciation
Chgs. in respect of equip, dismantledTaxes other than Fed. income taxes..
expenses
$25,336
50,575
3,206
10,566
91,211
x$50,469
100,650
3,460
25,539
174,148
x
Miscellaneous expenses
Provision for doubtful accounts...
$111,046
$107,333
196,835
11,101
52,270
358,795
1,316
Cr3,258
$190,875
2,632
$362,207
497
$111,544
2,088
14,490
$193,508
4,603
26,500
$363,050
9,946
47,854
$94,965
$162,404
$305,249
Miscellaneous other income.
from
sub.
affiliated
Net profit
Repairs & replacements charged to
y
for depreciation
reserve
y
842
2,564
6,953
10,610
Before prov. for reduction in invest¬
ment
fn Armstrong-Newport Co.
(50% interest) which is charged to
23,224
Co.-
47,687
88,114
18,797
102,279
Deferred income &
112,780
113,628
Reserves
Customers' depos.
-
rev.
A suit
-Stockholders
Sue
on
Republic's Fore-r
been filed in Common Pleas Court, Cleveland, O., against
Steel Corp. involving the latter's attempt to foreclose on the
company, in which it owns all the 7% bonds and a controlling stock interest.
Foreclosure suit was brought against Newton by Republic because of the
default on the bonds.
Republic acquired Newton control when it took over
Corrigan, McKinney Steel Co.
The suit is filed by Mitchell Investment Co., a private investment com¬
pany, and A. Pierce Shupe of Cleveland, both stockholders in Newton.
They charge that Republic has mismanaged Newton and ask for an account¬
ing, an opening of the Newton books and an injunction to restrain the fore¬
closure proceedings.
About 21 % of the Newton Steel preferred and 20% of the common stock
are outstanding in tne hands of the
public, the rest being held by Republic.
—V. 142, p. 437.
has
Republic
New York Central
Common stock
132,311
498,482
498,482
176,116
211,650
54,251
capital stock
Debt
5,602
87,408
52,177
openings.
Fire protec'n serv.
Comm'n on pref.
disc.
1936
expenses
1935
$1,847,777
1,008,234
revenues
$1,749,405
865,192
140,519
111,970
15,534
142,147
Maintenance
Provision for retirements
198,914
42,270
Federal income taxes
Other taxes
5,889
146,183
Operating income
$446,287
Dr68,355
Other income
Gross income
on
funded debt
Interest
on
$474,043
Dr 171,922
$377,932
238,298
-
Interest
unfunded debt
$302,120
238,298
138,098
17,121
18,499
142,522
17,121
Amortization of debt discount and expense
Amortization of miscellaneous suspense..-
17,500
Cr724
Interest charged to construction
& exp.
in proc .of amort
def'd charges
Total
$36,784
'
Cr244
Representing surplus arising from appraisals of properties and surplus
sales of properties, less excess cost of securities on consolidation,
deficit of subsidiary at date of acquisition, and debt discount and expense
charged off.
Our usual comparative statement of earnings for the 12 months ended
June 30 was published in V. 143, p. 765.
from
Niagara Share Corp. (& Subs.)—Earnings—•
6 M/»s. End. June
Dividends received
&
Gas
Commission
postponing
proposed
the
Aug. 31.
804
$657,305
79,990
316,250
$691,187
187,233
319,599
Amort of bd. dis. & exp.
15,042
paid at source. _
funded debt—„
3,341
15,200
3,002
700
$719,180
191,522
333,571
15,955
3,101
2,119
45,592
$953,236
209,740
356,127
17,675
3,037
9,087
prof131,773 prof163,526
prof7,221
profits
Syndicate
Rents received
Miscellaneous.;
Total gross income—
General expenses.
Int.
funded debt
on
on
offering date of its securities
paid to for. govts.
Recovered from miscell.
reserves, &c
Miscell.
Operating expenses
Maintenance
Provision for retirements.
—
,
—$14,046,145 $13,420,727
7,976,960
7,091,135
1,115,741
1,077,790
546,504
441,766
234,556
291,793
910,140
904,475
Other taxes
$3,262,242
173,730
Operating income
Other income
income
Interest
on
on
$3,435,973
1,599,797
223,921
113,334
$3,613,765
155,409
unfunded debt
Amortization of debt discount and expense
Amortization of miscellaneous suspense
Interest charged to construction
Balance of income.
70,563
Cr6,814
$3,769,175
1,586,527
201,240
113,252
70,563
Cr8,269
$1,435,171
funded debt
Interest
::::::
Earned surplus Jan. 1__
Adjust, of taxes, &c-___
$1,805,861
...
$1,148,096
89,991
Earnedsurp. June30-a$l,191,254
$1,195,940
$1,050,455
$781,333
0.11
$0.07
$0.17
tax de¬
Int. on Fed. inc.
7,650
ficiency of acq'd co—
Earns. per sn. on average
shs. com. stk. outst'g.
$0.09
Unrealized depreciation in market value of corporation's investment in
stocks and bonds, based on
decreased
$5,312,676 during the period
a
1936 to June 30,1936 (Jan. 1, 1935 to June 30, 1935, $4,556,589).
Jan. 1,
Consolidated Balance Sheet June 30
1936
$
Liabilities—
810,868
315,255
Accts. & notes rec.
369,784
851,357
Int. & divs. rec—.
144,799
177,108
b Stocks & bonds .40 ,241,753 30,947,663
U. S. Treas. bonds
150,891
152,437
102,534
Mtges. & real est.
Off. bldg. & equip.
458,476
Cash
.
Off. fur. & equip.
1
_
bond
406,559
23,000
discount & exp.
Total
435,948
10,638
5
$
Accounts
payable.
Notes payable
Divs. and Int. pay,
354,297
7,423
300*948
20-yr.
5H%
600,000
151,998
con¬
11,500,000 11,500,000
Preferred stock
3,037,100
3,037,100
Com. stk. (par $5) 7,472,696
7,532,697
Res've for taxes..
66,784
24,654
Res. for conting.. 1,500,000
1,500,000
8,008,214
Capital surplus
16,617,965
Earned surplus
1,195,940
1,191,254
vertible debs
41,652,040 33,947,031
Total
41,652,040 33,947,031
reserve
1935
1936
1935
$
Assets—
for fluctuation in market value of $74,851,102 in 1936 and
$88,678,514 in 1935.—V. 143, p. 281.
Noma Electric
Sales
Corp. (& Subs.)—Earnings—
Income
Account for
Year Ended Feb. 29, 1936
the
(less discount)
(less discount on purchases).
Cost of sales
$1,846,386
1,438,286
—
Gross
$408,100
profit
10,723
10,104
Other income
Adj. of res. for bad debts previously charged to profit and loss..
$428,928
Total income
Administrative, office and general salaries
Other administrative, office and general expenses
42,585
35,887
116,960
;
Selling expenses
Shipping expenses.
19,875
Federal
32,612
ana
Canadian income taxes
Net
profit
Earnings per share
-
$181,007
$0.81
Note—Depreciation included in the cost of sales and general and admin¬
amounted to $16,984.
istrative expenses
Consolidated Balance Sheet Feb. 29,1936
Co.—Earnings—
Per. End. June 30—
1936—Month—1935
1936—6 Mos.—1935
$16,768,408 $15,633,448 $99,405,951 $93,760,532
Uncollect, oper. rev__l_
64,050
73,459
392,478
472,966
Operating expenses
11,375,615
11,066,711
67,577,126
67,182,026
Operating taxes...
1,987,322
1,656,399
12,257,745
9,950,058
revenues
Netoperating^income. $3,341,421 $2,836,879 $19,178,602 $16,155,482
New York New Haven & Hartford
$963,382
182,049
$1,287,061
91,120
Assets—
New York Telephone
The trustees on Aug. 4
certificates for $3,075,000.
24,030
$340,758
622,623
$1,431,347
91,113
148,980
Gross earned surplus.
Divs. on pref. stock
Divs. on common stock.
-V. 142, p. 4029.
Operating
7<f,538
$187,996
960,100
$254,474.
1,029,857
2,729
$229,490
1,196,022
5,836
...
Federal income taxes.
Gross
315
_
income
Net
28,458
3,853
25,583
3,845
expenses.
Miscellaneous reserves.
to
1935
2,239
losses charged
against income
Special legal expenses—
Loss on foreign exchange
Security
Consolidated
1936
19,407
7,816
1,216
Provision for taxes
'
12 Months Ended June 30—
Total operating revenues
$609,951
300,117
33,341
2,896
4,430
2,499
305,686
103,342
2,176
5,206
1,177
b After
The corporation has filed an amendment with the Securities and Exchange
•
1933
1934
$301,593
325,676
33,493
11,708
4,617
1,034
Corp.—Offering
Delayed—
"
$314,658/
$428,905
224,159
3,437
Mlscell. assets
Electric
State
1935
1936
30—
Interest earned
$109,652
—V. 142, p. 4185.
York
32,033,607 31,867,156
Total
32,033,607 31,867,156
Unamortiz'd
Deficit
New
x
Prepaid acc'ts and
Electric Corp.—Income Statement—
12 Months Ended June 30—
Operating
Operating
liabilities
6% cum. pref. stk. 4,653,200
by N. Y. C. for
street
,
Misc. accr. items.
&
cos
Taxes
closure—
.
2,888,220
2,257,921
8,564
107,563
Accrued Interest..
Award for I'd taken
Inc. tax
deficit account
Steel
2,601,500
502,462
1,985,871
4,653,200
2,601,500
53,492
324,310
taxes
Materials&suppl's
Int.
—V. 142, p. 3354.
Newton
457,230
2,182,120
local
104,610
269,178
rec.
Commissions
Interest paid—net
Prov. for normal Fed. income taxes..
x
414,816
144,663
15,105
29,457
Federal,
and
State
345,750
x
x
& admin,
Due
Acer, unbilled
$1,086,601
Maint.
gen.
371,118
141,008
17,813
44,335
Accrued
451,000
working funds
Accts. <fe notes
12 Months
$1,915,269
1,370,123
$291,943
Sell.,
14,771
sessments
45,000
herein..
Cash In banks and
Employees' pension reserve..
Accounts payable
Dividend payable
Surplus
Sales.net
Cost of sales
10,274
payable—
Sewer & paving as¬
tees in skg.Ids.
consol.
Capital stock
Premium on capital stock
$7,296,995
6,000
38,670
Capital & paid-in
surplus
2,889,470
Earned surplus— 2,724,201
Advs. to subs, not
Liabilities—
Cash and deposits.
6,000
52,836
Accts.
4,541
Cash held by trus¬
Balance Sheet Dec. 31, 1935
Supplies
Mtg. bds. assumed
due on
—amount
2,609,598
5,523
$
15,532,500 16,054,500
260,000
350,000
July 1..
special deposits.
289,218
$20,023
Surplus for year.
5,777,461
171,848
79,435
56,112
191,236
20,901
Funded debt
Notes payable
herein, at cost.. 2,609,599
1935
$
Liabilities—
$
27,394,440
Misc. invests, and
.*
Asset?—
1936
1935
$
not consol.
cos.
955,577
.
Plant
Corp.—Consolidated Balance
Service
Invests, in subsid.
^
...
Dividends
-V. 136, p.
Water
Pl't, prop.,eq.,&c_27,503,632
Ended Dec. 31, 1935
revenue
Operating expenses
Accounts
York
1936
Telephone Co., Ltd.—Earnings—
Income Account for 12 Months
Net
New
Sheet June 30—
paid on Aug. 1 and Feb. 1, 1935.—V. 142, p. 793.
New Brunswick
Gross
931
Chronicle
RR.—Equip. Trusts—
received permission to issue equipment trust'
The certificates will have priority over other
Liabilities—
Cash on hand and in banks
Investment
a
(at cost)
Trade accpts. & accts. rec
Miscell. accounts receivable
Merchandise inventory
Due from
employees
b Machinery, furn. & fixtures-.
Deferred charges
Patents and goodwill
a
253,988
350
After
reserve
Accounts payable
Acc'ts receivable, credit balance
Accrued
expenses
Reserve for income taxes
Capital stock (par $1)
Surplus
$12,204
1,225
15,696
32,530
221,532
688,619
61,322
5,802
1
$971,8061
Total
reserve
$569,762
30,652
47,190
2,738
$971,806
Total
for doubtful accounts and discounts of
for depreciation of $103,023.—V.
142,
p.
1825.
$9,731.
b After
Financial Chronicle
932
North American Aviation, Inc. (&
Ohio Bell Telephone
Subs.J—Earnings—•
1935
1936
QMos.End. June 30—
1934
profit after exps.,
deprec., int., prov. for
x
$86,027 zloss$69,615 y;j>743,872
x$147,651
$104,756 if there were in¬
& other charges.
taxes
the net profit of
subsidiary not consolidated, in which a majoirty stock interest is held,
y The net profit for 1934 would be reduced to $615,778 if there were in¬
cluded therein North American Aviation's proportion of the net loss of
North
therein
_
equity
Aviation's
American
in
-
$4,330,153
1936—3 Mos.—1935
$286,77<tf
$96,722
$89,788
789
429
$644,661
431,895
$595,648
415,816
$212,767
1,012
$179,832
$90,218
62,687
$213,778
15,881
867
30,184
758
1,510
$180,423
125,375
31,874
1,610
5,660
5,781
11,321
11,562
$14,743
Net operating income.
Other income (net)
—
,1936—6 Mos.—1935
,
$304,835
208,113
Oper. exps. & taxes.
(& Subs.)—Earnings—
Statement—
Oklahoma Power & Water Co.—Income
Per. End. June30—
Total oper. revenues....
June 30, '36 Mar. 31,'36 June 30, '35
..$91,085,655 $89,824,060 $84,846,423
30,484,711
30,046,337
28,919,118
Operating expenses
5,421,555
Maintenance
j—
5,280,220
5,244,388
10,439,269
10,230,841
9,805,391
Taxes, other than income taxes....
Provision for income taxes.
2,833,112
2,658,639
2.742,012
12 Months Ended—
Total operating revenues:.
$4,900,872
$753,554
$859,176
Net oper. income
—Y. 143, p. 597.
subsidiary not consolidated in which a majority stock interest is held,
z Including an accounted profit of $33,205 realized from the sale of securities.
—V. 142, p. 3007,
North American Edison Co.
revenue
Operating expenses
Operating taxes
The net loss for 1933 would be reduced to
Co.—Earnings—
$3,284,850
5,864
1,977,775
442,035
Operating revenues
Uncollect, oper.
1936
8,
1936—Month—1935„.
1936-—6 Mos .—1935
$2,967,174 $19,203,505 $17,602,684
1,254
39,188
44,697
1,831,600
11,555,637
10,987,837
380,766
2,707,808
2,239,997
Peri End. June 30—
1933
Net
cluded
Aug.
$4,999
$47,259
$10,000
_
196,989
591
...
$97,511
Gross income
..
__
Int.
on
Int.
on
long-term note..
61,707
14,640
funded debt....
..
_...
V
Other interest
Non-operating
Gross
revenues
.....
income
Interest
funded debt
on
$41,907,006 $41,608,021
194,732
164,471
$38,135,512
$42,101, 739 $41,772,492
13,023, 241
13,<517,417
Net operating revenues
$38,406,547
13,895,735
Amortization of bond discount & exp.
564, 959
Other
172, 089
Crll4, 841
Crl98,251
5,039,741
12,023, 511
1,109,501
11,973,252
Minority interests in
surplus—.$10,159,449
$9,743,584
56,606,331
net
before
inc.
pref.
divs. *
851,728
11,619,785
5,101 .598
of subsidiaries
divs.
Net
Cr289,817
4,918,977
charges
Interest during construction charged
to property and plant...:
Preferred
expense.
620,958
182,846
interest
•
Amortiz. of debt disc't &
271,034
571,857
165,388
123.502
been made for Federal surtax on unaistributed
Note—No provision has
Pr*DjLvidends
outstanding 6% cumulative preferred stock, all of
Middle West Corp., have been omitted entirely since
142. p. 3865.
the
on
which is owned by
March 1, 1933 —V.
income of
subsidiaries
1,171, 730
—
Appropriations for depreciation res..
Oregon Short Line RR.—Acquisition, &c.—Commission on July 23 approved the acquisi¬
lease by the Union Pacific RR., of the railroad
properties of the Pacific & Idaho Northern Ry.—V. 142, p. 965.
The Interstate Commerce
Balance for divs.
Dividends
and
North American Edison
on
2,206.050
2,206,005
2,205,960
$7,953,398
$7,537,578
$ 1,400,371
Co. preferred stock
Balancefor
tion by the company, and
common
divs. & surplus
Note—No allowance has been made for the six months ended June
North American Oil
Consolidated—Earnings—
1936
6 Months Ended June 30—
Total
1935
$595,348
income
Net profit-
$147,424
82,697
'
Cash
on
$0.52
$0.64
>.53
Total
x
p.
1936
Accounts payable.
$621,436
47,392
x Fixed assets
3,639,273
Prepaid taxes
4,816
Prepaid insurance.
1,762
receiv'le
$645,476
46,235
3,670,630
2,339
1,226
I
'
'
Accrued
payroll.
$31,164
Purchase
obligat'n
Capital stock
Surplus
$25,442
6,282
10,665
9,458
2,756,590
1,557,469
6,902
14,746
_
Accrued Fed. taxes
9,458
2,756,590
1,495,820
Total .........$4,314,680 $4,365,906
$4,314,680 $4,365,906
After depreciation of $5,434,804 in
Owens-Illinois Glass Co.—Sells
1936 (1935, $5,164,668) .—V. 142,
Pacific. Tin
Corp.—Earnings—
Miscellaneous income
.....
Total
»Corporate expense
-
$:1,233,690
877,323
$610,013
$1,370,689
473,527
439,469
967,801
Net oper. income
Other income (net)
$196,741
$170,544
$402,888
See Oregon Short Line RR.—V.
Pacific
561
4.372
310
$199,129
$171,105
$407,261
$356,677
100,682
105,077
2,823
202,311
4,365
210.989
Gross income
Funded debt interest.
General interest (net)
_
expense
_
6,299
6,550
5*663
12,661
$89,893
.
Net income......
Net sales
$56,655
187,923
Note—No provision has been made for Federal surtax on undistributed
profits.
Dividend requirements at full cumulative rates for a three-months'
period on preferred stock outstanding June 30, 1936, amount to $70,463.
Dividends of $1.75 ana $1.50 per share on the 7% and 6% preferred stocks,
on
-
.
167,326
634,610
1,559,110
636,991
1,223,715
633,447
Cr39,275
146,742
Cr21,431
53,569
Cr57,788
170,569
$59,438 loss$574,751
$889,980
$477,486
$2.24
$1.20
term notes
Other
charges.
expense
at
Law471,820
rence
Net profit before taxes
Earn, per sh. on 396,123
shs. capital stock
—V. 142, p. 1481.
Panhandle
Nil
$0.15
Producing
Refining
&
*
1935
Total
$6,988,693
890,722
—
income
on
$6,659,578
926,163
$7,879,415
$7,585,742
2,911,471" 2,912,813
300,622
300,653
25,894
25,393
—
funded debt
Amortization of debt discount & expense.....
Other deductions (net)
—
Net income-
$4,641,427
1,188,390
3,271,891
preferred dividends
Common
1934
$19,697,958 $18,251,609
6,625,162
6,030,241
1,359,853
1,193,972
2,270,555
1,957,667
2,453,694
2,410,150
Taxes.
Interest
dividends
Asse
1,188,390
2,631,738
501
310,914
433,470
stocks
& bonds
Ad vs.
to sub.
General
1,258,144
1,257,666
58,830
,295,951
18,297
45,127
783,296
23,367
436,300
168,265
340,331
254,567
1,884,586
pref. stock.__
99,032
3,367,420
Cash
Oth. accr'd accts
Municipal scrip.
54,924
49,677
149,000
&
3,086,147
accts.
Contrac'l
receiv.—
63,655
12,419,356
77,295
70,556
,876,382
1,637,603
(affil.
cos.)_.
Mat'ls & suppl's
10,225,826
19,806,500
x Common stock
17,782,015
Surplus
5,325,258
19,806,500
17,782,015
5,144,795
Reserves
debt
disc. & exp—
,175,504
Unadjust. debits
450,958
pref.
($100
x
stock
par)...
80,780
10,801
$3,318,741
Balance, deficit
Dividends accumulated
on
67,200
preferred stock
Deficit June 30, 1936
$3,385,941
Note—In addition to taxes shown above, there were paid during six months
ended June 30, 1936, gasoline taxes of $490,243 and gross production taxes
of $5,478, which are deducted from sales or included in operating expenses
above.
Consolidated Balance Sheet June 30
Assets—
1936
Liabilities—
1935
Total
121,150,813 118,659,801
138,
p.
4471.
1936
1935 ^
$3,595,200 $3,460,800
1,054,872
1,054,872
Accts. & notes pay.
635,554
746,627
Acer, int., tax, &c.
153,777
160,994
Property,
plant
and equipment.$1,416,614 $1,393,534
Cash
53,573
34,456
Notes & accts. rec.
197,884
168,134
Prov. for pref. stk.
Dep. on sales con¬
a
Investments
Deferred
charges.
Other assets
425,795
50,663
17,809
328,981
47,839
7,330
38,020
33,316
b Common
stock.
13,107
tracts
Purchase
a
After
$2,013,591
depreciation and depletion,
142, p. 3183.
shares.—V.
13,708
18,962
15 A 99
13,260
3,337,343
obligat'n
Reserves
Deficit
Represented by 3,556,403 no par shares.—V.
loss$13,318
$3,410,324
6,476,258
494,397
121,150,813 118,659,801
$80,780
Deficit Jan. 1, 1936
Total. ........$2,200,357
Total
$15,076
28,394
Inventories
liabil.
76,000
80,904
6%
$102,402
21,621
»
Net income, six months ended June 30, 1936..
Miscellaneous adjustments, net
on
UnadJ. credits..
receivable
Unamort'd
accr'd
$11,902
3,174
"
Surplus Account June 30, 1936
99,032
cos.
Taxes accrued
Divs.
&
Net income.
$100,407
1,994
$63,635
13,284
...
16,018
2,676
755,860
308,413
83,836
81,132
10,848
1,858
$50,350
Total.:
Deductions from income
62,311,000
411,005
174,266
367,480
271,386
1,938,933
Affiliated
Interest accrued
depos.
$
62,288,000
Customers' dep.
fund
special
Accts.
$
debt
&
cos
Sinking
Funded
$1,253,852
1,605,461
963,748
352*134
84,485
85,990
$62,444
1,190
'
.
Accts. payable—
owned
Jointly
Notes
Liabilities—
104,351,411
500
1935
1936
$882,871
544,133
180,293
42,873
42,502
8,718
1,905
_
Net operating income.
Non-operating income.
1934
1935
106 ,260,616
Stks. of sub. cos.
Miscell.
1934
$
s—
Fixed capitkl
.
(excl. sales taxes
inter-company transactions) _
Cost of goods sold
Direct operating expense
Operating charges
Depreciation
;
Depletion
Amortization of undeveloped leases. _
$4,346,881
Balance Sheet Dec. 31
1935
Period Ended June 30—
and
Operating revenue
Operation
Maintenance
Depreciation
Operating income
(net)
Subs.)-
-6 Months-
3 Months
1936
Gross oper. income
Co.—Earnings—
Other income
(&
Co.
Earnings—
$416,907, which represents accumulations of approximately $10.35
share on the 7 % and $8.88 on the 6% preferred stock.—V. 14o, p. 597.
Calendar Years—
121.
1,143,068
589,054
gate
Ohio Power
p.
Cr35,137
57,792
Plant depreciation
Int. amort, of discount
respectively,
were paid June 1, 1936.
After the payment of these dividends,
total unpaid cumulative preferred stock dividends at June 30, 1936, aggre¬
R.y.—Lease—
ducting cost of goods
13,138
126,887
307.
1936
1935
1934
1933
$25,222,839 $24,416,777 $21,390,782 $14,888,573
sold
Flood
2,255
Amortiz. of bond disct. &
p.
143,
Net oper. profit after de-
Interest deductions:
$384,830
$1.84
Mills—Earnings—
6 Mos. End. June 30—
$356,367
2.388
71.88S
$149,028
$0.71
—
142,
Pacific & Idaho Northern
1936—6 Mos. —1935
$670,268
$470,678
13,960
28,667
See also Yukon Gold Co.—V.
Northwestern Public Service Co.—Income Statement—
1936—3 Mos. —1935
$463,803
6,875
Taxes accrued
1st mtge. and ref. 5>£% gold bonds, due 1946,
have been called for redemption on Sept. 1 at 104K and interest.
Pay¬
ment will be made at the Chase National Bank,
New York City.—V.
142, p. 2168.
Per. End. June HO—
6 Months
$184,968
7,273
Income from Yukon Gold Co.'s profits...
outstanding
Operating revenues
Oper. exps. & taxes
Aionths
$181,531
3,437
3
Period Ended June 30, 1936—
Net per share
Northern Connecticut Power Co.—Bonds Called—
6%
Subsidiary—
Pennsylvania Glass Sand Corp., below.—V. 143, p. 438.
Net available to Pacific Tin Corp. stockholders.
All of the
.
.
1935
964.
per
'
•
Co.—Delays Offering—
The company has filed an amendment with the Securities and Exchange
Commission postponing the proposed offering date of its securities to
See
Liabilities—
1935
hand and
in banks
Accounts
'
'
Otis Steel
Balance Sheet June 30
1936
'
'
Aug. 21.—V. 143, p. 438,
Earnings per share on 275,659 shs.
(.par $10) capital stock
Assets—
in New York.-r-V. 142, p. 794.
of the fiscal agent,
124,011
$143,932
137,830
"
137,830
$522,742
251,308
139,033
$174,002
.....
Dividends
1934
$519,226
236,262
272,458
148,888
Expenses
Depletion and depreciation—
Light Works—Bonds Called—
Oslo
White, Weld & Co., fiscal agent of Oslo Light Works (Oslo L.vsverker),
formerly Oslo Gas & Electricity Works, 5% external sinking fund gold bonds
due March 1, 1963. has drawn for redemption through operation of the
sinking fund, $S7,000 principal amount of this issue.
The bonds so desig¬
nated will become due and payable on Sept. 1, 1936, at 100% and accrued
interest and should be surrendered for payment on that date at the offices
30,
1936 for Federal surtax based upon undistributed income, as it is impracticable to estimate it at this time.—y. 142, p. 3518.
Total....
b Represented
3,385,942
$2,200,357 $2,013,591
by 198,770Ino-par
Volume
Financial
143
Paramount
933
Chronicle
Pictures, Inc.-—Contract Settled—Subsidiary
Merged—
Currently telling at about $3
The company announced on July 30 that it had reached an amicable
and satisfactory settlement with John E. Otterson, its former President,
on Mr. Otterson's contract with the corporation.
The corporation also announced the authorization of the merger of its
Petroleum Conversion Corporation (Common)
Additional information on request
wholly-owned subsidiary, Paramount Productions, Inc., with the parent
company and the election of Henry Herzbrun as Vice-President of Para¬
mount Pictures, Inc., and of Frank Meyer and Jacob H. Karp as Assistant
Secretaries. Upon the completion of the merger, as of Aug. 1, all contracts
with Paramount Productions, Inc., will be assumed by the parent cor¬
poration.—V. 143, p. 767.
•
.
■
s.
■
Pecos Valley Power & Light
share
per
LANCASTER & NORYIN GREENE INC.
30 BROAD
A. T. & T. Teletype
N. Y.
ST.,
Hanover 2-0077,1
NY-1-1786
•
.
Co.—Annual Report—
J. R. Jones, President, says in part:
,
On Oct. 31, 1934, the
company filed a petition for reorganization
under
Section 77-B of the Bankruptcy Act.
Reorganization of.the
Pennsylvania Electric Co. (& Subs.)—Earnings-*—
V
,
company was accomplished under the direction of the Federal Court
for the Northern District of Texas at Fort Worth, Tex., and the property
was returned to the
corporation on Nov. 1, 1935.
The principal changes effected as a result of the reorganization were:
in the principal
1950, and
modified by changing
the requirements from a fixed amount to an amount based, on earnings.
The $1,455,000 7% debentures and 7% notes outstanding were exchanged
for new income debentures and common stock on the basis of $500 of new
income debentures and five shares of common stock (no par) for each
the
of $1,500,000
outstanding, was extended to May 1,
sinking fund provisions of this bond issue
Practically all of the old securities including bonds, debentures and
notes have been exchanged.
A substantial reduction in the fixed charges
of the company was effected by the reorganization.
After the payment of
all reorganization expenses the company was left in a satisfactory cash
position.
Earnings for Year Ended Dec. 31,1935
2 Mos.
Year
Ended
Ended
Ended
Oct. 31, '35 Dec. 31, '35 Dec. 31, '35
10 Mos.
Operation
Maintenance.
—
—.——
$250,905
63,301
27,999
7,325
13,970
9,124
_
Provision for retirement reserve
State, local, &c., taxes
Net earnings from operations—...
$54,370
15,620
7,058
1,432
2,791
1,085
$305,275
78,921
35,058
8,757
16,761
10,210
$129,184
$26,384
$155,568
Balance Sheet Dec. 31.1935
"
Assets—
Elec.
,
Liabilities—
generating, transmission
& distribution property.__
b Common stock
$2,854,985
Sinking funds & other special
deposits-
8,051
—
Debt disc. & exp.
25,074
2,233
29,551
54,770
(incl.
working fund)—
Deposit for the payment of
bond interest
a
—
on
$657,800
2,227,500
8,796
1st mtge.
H% gold bonds, series A
Mlscell. current liabilities.
20,487
9,125'
86,634
10,000
—
Retirement reserve..
Reserve for contingencies...
Co. (affil. co.)
Accounts
payable
Accrued interest
6
applic. to
1st mtge. bonds.
Prepaid insurance
Due from W. Texas Utilities
Cash
Funded debt
Accounts
Earned surplus
9,842
1,737
-
receivable30,221
<fc supplies
23,561
Materials
Total.
$3,030,1851
After
a
for
reserve
obsolescence
Total
and
———.....
unsalable
$3,030,185
of' $6,265.
material
b
Authorized, 7,475 no par shares; issued and outstanding,'7,083,632
shares, $623,359; reserved in hands of reorganization agent for issuance
for securities to be exchanged under plan of
reorganization, 391,368 shares
$34,44Q.—V. 143, p. 282
(David) Pender Grocery Co.—Comparative Bal. Sheet—
Assets—
Liabilities—
June 27 '36 June 29 '35
Cash In banks and
on
x
hand
Accts.
&
receivable
118,187
1,462,747
Cash
surr.
Class A stock
,
30,889
35,539
1,517,065
690,445
40,390
_
1
...
Total
8,164
Prov. for Fed. and
729,270
150,948
expenses.
Goodwill
474,829
8,164
State Inc. taxes.
26,410
23,389
9,017 Self-ins. reserve..
23,143
z Capital stock
1,5TJ\065
792,077 Earned surplus...
702,152
124,359 a Treasury stock.
40,390
assets—
cost
Prepaid
145,875
1,509,174
14,114
9,867
Invest'ts—cost
Capital
$250,000
517,988
accrued exps
Accrued divs.—
value,
life Insurance...
y
$150,000
$359,626 AcCts payable and
notes
Mdse. inventories.
June 27 '36 June 29 '35
Notes payable
$416,375
...
—.$2,901,512 $2,966,5431
Total
$2,901,512 $2,966,543
x After reserve of
$22,959 in 1936 and $22,701 in 1935.
y After reserve
for depreciation of $1,474,634 in 1936 and $1,333,307 in 1935.
z Repre¬
sented
329,438
—710,533
767,948
603,320
$3,131,431
51,516
$3,572,877
49,124
$3,182,947
Operating income
Other income-
.
$3,622,002
1,816,757
127,000
— --
...
-
—
——
1936
*
were
$1,000 of old debentures and notes.
Electric revenues
Power purchased
' 1935
$9,575,776
4,631,629
.
Operating expenses, etc
Provision for retirements-..--.--Provision for taxes...
The maturity date of the company's 6 )4 % 1st mtge. bonds,
amount
$9,780,144
5.608,741
12 Months Ended June 3CH—
Total operating revenues
by 30,207 shares class A stock and 65,070 shares class B stock, both
of no par value,
a Represented by 2,216 shares class A stock at cost.
The earnings for the six months were published in V. 143, p. 767.
Gross income
Interest
on
Interest
Interest
on
1,819,755
mortgage debt—
——convertible notes (retired in 1935)-——
on unfunded debt-Amortization of debt discount and expense
166,850
57,217
Interest charged to construction
Cr3,998
123,770
55,390
Cr4,104
$1,143,123
$1,503,182
.—.
Balance of income..
-V.
142, p. 4188.
19327068 19345-
Pennsylvania RR.—Bonds Offered—Kuhn Loeb & Co.
Aug. 6 offered $20,000,000 gen. mtge. 3%% bonds,
series C, at 101H and int. to date of delivery, to yield 3.67%
to maturity.
The issue has been oversubcribed.
^"D^ted^prirO^Ordue"April"f719^6" "Coupon bondsin $T7000 denonT.
on
registerable as to principal, and fully registered bondsin authorized dencms.
interchangeable under conditions provided in the mortgage.
Interespayable A. and O. l.
Bonds are redeemable, at the option of company,
as a whole but not in part, at any time on 60 days' notice to andincl. April 1,
1945 at 105%, thereafter to and incl. April 1, 1955, at 104%, thereafter to
and incl. April 1, 1960 at 103%, thereafter to and incl. April 1, 1965 at
102
% and thereafter at 100% plus a premium equal to U. of 1% for each
six months between the date of redemption and April 1, 1970, i n each case
with accrued interest, all as provided by indenture dated Feb. 1, 1936,
supplemental to the general mortgage.
Girard Trust Co., Philadelphia,
corporate trustee.
■
Issuance—The sale of the above bonds is subject to the approval of the
Interstate Commerce Commission.
Legal Investments—In the opinion of counsel these bonds are legal invest¬
ments for savings banks under the laws of New York and other States.
Listing—Company has agreed to make application in due course to list
these bonds on the New York Stock Exchange.
,
.
Data
Letter of M„ W.
from
.
Clement, President, dated Aug. 5
Bonds—The bonds are issued under the general mortgage dated June 1.
1915, to Girard Trust Co., Philadelphia, and George H. Stuart, 3d (succes¬
sor to William N. Ely), trustees.
The general mortgage is in the opinion,
of counsel a lien (subject to $124,696,580 of prior liens which may not be
renewed or extended, and for the retirement or which, at or before maturity,
general mortgage bonds are reserved, and to certain equipment trust obliga¬
tions) on all the lines of railroad and important leaseholds owned by the
company at the date of the mortgage, and upon all appurtenances thereof
and equipment used therewith whether then owned or thereafter acquired,
and upon all property thereafter acquired by the use of any of the general
mortgage bonds or their proceeds. The property so covered by the general
mortgage includes the main line of the Pennsylvania RR:, extending from
Pittsburgh to Philadelphia, Pa., and valuable terminal properties at
Philadelphia, Pittsburgh and Harrisburg, Pa.
The leaseholds so subject
to the mortgage include the leases of the main lines of the system from
Philadelphia, Pa., and Camden to Jersey City, N. J., and from Baltimore,
Md., to Harrisburg, Pa.
Additional general mortgage bonds may not be issued if, after such issue,
the amount of general mortgage bonds outstanding, including bonds at the
time reserved to retire prior debt, would exceed the aggregate par value of
the then outstanding paid-up capital stock of the company.
Purpose—The proceeds of the bonds will be used to provide funds for
other corporate purposes.
Capital Stock and Earnings—Thq company now has outstanding paid-up
capital stock of $658,384,800 par value. In no year since 1847 hap the
company failed to pay cash dividends on its outstanding stock.
The per¬
centage earned on stock for the past 10 years and the dividends charged
against such years have beeh as follows:
Div. Rate
% Earned
% Earned
Div. Rate
1931...
J
2.97%
13.53%
6H%
5)4%
1932
2.06%
1%
13,65%
7%
1933-..--—2.93%
1%
14.69%
7%
3.29%
2%
17.64%
8%
3.62%
2%
—
10.55%
8%
future capital and
-
—
—
—
—
31,1936, the company has retired, at maturity
otherwise, bonds and equipment trust certificates in the amount of
Other Data—Since March
or
(J. C.) Penney Co.—Earnings—
1935
1934
1933
$92,979,584 $90,022,564 $71,029,692
Cost and expenses96,457,805
85,510,963
82,379,383
67,166,193
Deprec. &amortiza'n—.
455,185
445,428
426,904
439,886
Federal taxes..
x2,760,037
xl.824,154
1,107,703
561,026
....
Profit-.
Other income
Net profit
Preferred dividends.—_
$6,108,574
448,570
141,293
$2,862,587
478,729
107,203
subsidiary and affiliated
$6,684,604
$5,669,685
$6,698,437
$3,448,519
outstanding in the hands of the
309,789
309,789
309,789
$632,607,091. of which $18l,704,000*are assumed jointly with other railroad
companies, and of which $89,824,091 are owned by Pennsylvania RR. or
General Mortgage
——
$6,684,604
Surplus
$5,359,896
$6,388,648
$2.71
$2.17
$2.59
$3,138,730
*
$1.27
1936
.1935
' $
Assets—■
$
1936
Liabilities—
1935
$
$
6% pref. stock
.......
Furniture, fixtures,
10,326,300
7,758,941 x Common stock. .23,622,767 23,622,767
land, &c
7,836,927
Cash.
9,515,097 16,136,549 Accts. pay. &accr.
liabilities —13,597,920
Merchandise
54,825,333 50,608,735
9,281,295
Fea'l tax reserve
Acc'ts
2,363,578
receivable,
2,141,330
687,131 Mtges. payable
advances, &c_._
567,679
50,000
for
fire
Deferred charges..
461,469 Reserve
476,511
Treasury stock...
2,610
losses, &c
1,927,081
1,798,309
Invest, in sub. co. 5,666,198
3,460,553 Surplus—
39,311,420 33,830,643
Mtge. receivable.108,719
79,749
Impts.
and
lease¬
holds, less amort 1,854,770
1,825,937
Total —..80,822,765
81,050,644
Represented by 2,468,984
no par
..80,822,765 81,050,644
Total
shares.- -V. 143, p. 282.
—
—
Wm. J. Woods, President of the company, announced on Aug. 3 that
negotiations had been concluded with the Owens-Illinois Glass Co. for the
acquisition of Tavern Rock Sand Co., which had previously been a wholly owned subsidiary of Owens-Illinois Glass Co.
Properties are located in Missouri, Kentucky ana New Jersey, which will
substantially widen the markets for Pennsylvania Glass Sand Corp. Penn¬
sylvania Glass Sand Corp", had not previously been equipped with plants
in the Kentucky and Missouri areas.—V. 142, p. 3519.
public after the present sale:
;
bonds, due June 1, 1965,
bonds, due Dec. 1, 1968,
bonds, due April 1, 1970,
•
——
bonds, due April 1, 1981, and
bonds, due July 1, 1984.
$124,696,580 bonds are reserved to retire a like amount of prior lien bbnds
and the remainder is issuable, under the restrictions stated in the mortgage,
for the payment, refunding or retirement of general mortgage bonds out¬
standing, for the acquisition of additional property,, for additions, better¬
ments and improvements, for equipment or the refunding of equipment
obligations to the extent of 90% of the cost of such equipment or the prin¬
cipal amount of such obligations, and for the acquisition of other corpora¬
tions'securities.
'
Taxes—Both principal of and interest on the bonds are payable in such
coin or cifrrency of the United States of America as at the time of payment
is legal tender for public and private debts, without deduction for any tax,
assessment or governmental charge (other than Federal income taxes and
except such portion of such taxes, assessments or other charges of the
Commonwealth of Pennsylvania as may be in the aggregate in excess of
five mills per annum on each dollar of the principal of the bonds) which the
company or its successors or assigns or the trustees under the mortgage
may be required to pay "or retain therefrom under any present or future
law of the United States of America or of the Commonwealth of Pennsyl¬
,
.
,
vania.
Sinking Fund—As
Pennsylvania Glass Sand Corp.—Acquisition—
companies.
Bonds—Of the general mortgage bonds, there will be
$125,000,000 of series "A" 4J^%
50,000,000 of series "B" 5
%
60,000,000 of series "C" 3 H%
50,000,000 of series "D" 4)4 %
50,000,000 of series "E" 4)4 %
Includes all taxes.
Balance Sheet June 30
x
The company is
to the Railroad
$5,199,040
327,722
142,924
Earns, per sh.on com.stk.
-
or
$6,145,336
406,609
132,659
...
Profit of subsidiary
x
<
"
not indebted to the Reconstruction Finance Corporation
Credit Corporation, and has no outstanding bank loans.
The company has assumed liability under lease and (or) by endorsement
and (or) otherwise, in respect of the principal of obligations (not included as
a liability in the balance sheet) of companies in which it is interested and
which are essential to the operation of its railroad system aggregating
$50 713 910
6 Mos. End. June 30—
1936
Sales.....
..$105,818,363
a
sinking fund for bonds of series "C," the company
April 1, 1937, and on April 1 in" each
will pay to the corporate trustee on
thereafter (but only out of the net income of the company for the
preceding calendar year, determined in accordance with the regulations of
the Interstate Commerce Commission, and after deducting any sinking fund
year
requirements for such year for the general mortgage bonds, series "E")
a sum equal to
)4 of 1% of the maximum principal amount of bonds of
series "C" outstanding at any one time after Dec. 31, 1935, to be applied
to the purchase of bonds of series "O" at not exceeding their principal
amount (exclusive Of accrued interest).
If the amount of bonds of series
Financial
934
principal amount is insufficient to
for the purchase of bonds as of April 1 in
"C" tendered at not more than their
exhaust the full amount available
the unexpended balance in the hands of the corporate trustee
shall be applied, as the company may from time to time direct in writing,
either to the purchase of such securities issued or guaranteed by the United
States of America as may be specified in such direction or to the purchase
of general mortgage bonds of any series, from the company or otherwise,
at not exceeding their principal amount, all as provided in said supple¬
mental indenture dated Feb. 1, 1936. Any sinking funds hereafter created
any year,
with the
general mortgage bonds of other series may rank pari passu
sinldng fund for the bonds of series "C."—V. 143, p. 768.
for the
Commission on July 10 issued a certificate
permitting abandonment by the company of part of its Rainey branch,
1.42 miles, all in Fayette County, Pa.—V. 143, p. 768.
„
Interstate
Pittsburgh & West Virginia
Commerce
134,936
1,458,633
1,165,640
453,463
481,856
1,813,463
615,657
663,173
Gross from railway
Net from railway
Net after rents..
—V.
76,914
1,433,425
450,685
506,947
359,331
356,767
98.951
1—
From Jan.
Co.—Earnings—
1936
$1,612,984
1,651,507
1935
$1,466,958
1,428,088
1934
$1,322,136
1,250,116
1933
$1,310,613
1,185,279
1,587,299
1,558,292
1,450,922
1,268,006
1,646,717
1,695.132
1,537,720
1,561,028
1,324,034
1,336,054
1,245,704
1,242,600
1,675,602
1,535,173
1,342,468
1,243,098
1,732,576
1,547,491
1,317,587
1,299,963
March
April
May
-
June
July..
—V. 143,
p.
283.
/
•
Peoples Gas Light & Coke Co. (&
$9,597,023
172,325
Total gross earnings..
$9,769,348
3,507,045
Gas
purchased
..
2,631,463
Operation
379,255
914,150
Cr66,366
Maintenance
State, local & other taxes
Federal income taxes—
832,343
Depreciation
Net
earns,
Net earnings
on funded debt-
Interest
on
$9,169,424 $20,786,180 $19,286,685
6,146,828
7,303,031
2,878,314
6,160,204
5,621,706
3,017,092
736,393
945,784
390,922
1,194,443
1,865,106
595,145
257,164
105,471
82,944
1,549,581
1,664,583
794,500
$1,571,457
$1,410,504
204,236
from oper.
198,070
$3,280,495
396,853
$3,242,069
404,977
$1,775,694
1,011,741
f 44,020
$1,608,575
1,086,394
39,864
$3,677,348
2,099,710
88,549
$3,647,047
2,173,901
77,053
Other income
Int.
1936—6 Mos —1935
$8,977,653 $20,433,704 $18,878,983
191,771
352,475
407,701
1936—3 Mos —1935
Period End. June 30—
Gas sales.
Other oper. rev.—net.;..
unfunded debt__
42,759
43,777
77,141
86,359
52,319
count and expense
52,319
104,638
104,638
Amort, of intangibles of
subsidiary companies.
Losses assigned to minor¬
ity interests.
per
Share
company,
(Mass.)—Files Under 77-B—
Square Co.
a
-
June 30—
—
664,421
$1.97
675,774
$1.79
Other income
1935
Interest
780,844
$38,490,055 $35,998,001
11,185,245
* 13,455,209
12,052,511
11,381,711
3,289,479
1,448,167
2,294,953
287,001
3,049,507
' $5,154,474
$5,680,617
816,563
911,339
$5,971,036
4,276,750
177,778
149,590
209,277
Cr 16,127
$6,591,956
4,344,266
135,538
191,803
209,277
CY4.681
1,774,143
State, local and other taxes
3,366,518
68,520
Federal income taxes
Depreciation
^
Net earnings from operation.
Other income..
Net earnings
on funded debt
Interest
unfunded debt
Amortization of debt discount and expense
Amortization of intangibles of subsidiaries
Losses assigned to minority interests
$1,173,769
664,421
Net income
public
3,115,425
2,137,930
3,250
3,391
3,250
$16,838,368 $19,120,324 $14,366,817
50,317,485
47,370,013
43,662,082
Net profit
Previous surplus
Adjustment applicable prior years
Res. for matl. & prods, price equal—
Reversal of
reserve
for investment
221,710
191,543
Dr700,000 Dr4,000,000
71,425
50,429
213,119
....$66,527,277 $62,762,477 $58,433,561
1,027,585
1,027,585
1,025,349
11,068,729
10,752,453
9,484,277
Goodwill write down to $1
13,124
664,954
,127,872
Premium paid on redemption of deb.
426,050
Adjusts, applic. to prior years
12,956
Preferred dividends
Common dividends (cash)
_
675,774
$2.54
share on
Cash
6,236,356
13,970,294
789,447
2,002,277
1,337,812
$100, payable Aug. 15 to holders of record Aug. 5.
15 last, and on Aug. 15, 1935; $3
share in each of the three preceding six months' periods; $3.20 per share
on Aug. 15, 1933 and quarterly dividends of $1 per share paid up to and
including May 16, 1932.—V. 142, p. 966.
11,283,768
Other Govt, sees
Munic.
securs..
Other securities.
This compares with $1.50 paid on Feb.
5,728,511
3,185,752
1.388,844
2,222,554
305,110
Philadelphia Baltimore & Washington RR.—Acquisi¬
tion, &c.—
The Interstate Commerce Commission on July 20 issued a certificat
authorizing the acquisition by the company of a line of railroad formerly a
branch line of the Washington Baltimore & Annapolis Electric Ry., an
interurban electric railroad, extending from a connection with the main
line of the P. B. & W. at Odenton easterly to Academy Junction, approxi¬
mately 4,000 feet, and thence southerly to a point 1,000 feet south of the
south leg of the wye leading to the trgick layout of the Southern Maryland
Agricultural Association, owner of the so-called Bowie race track located
at that point, aggregating approximately 6.4 miles, all in Anne Arundel and
Prince Georges counties, Md.
The lease of the line of railroad by the Pennsylvania RR., lessee was also
approved and authorized.—Y. 141, p. 1941.
Pierce Governor Co.-—Dividends Resumed—
The directors have declared
.13,448,312
made.—V.
143,
p.
See list
given
on
599.
at
lower
stock
1936
1935
$134,327
878
Net oper. rev. before prov.
389
11,750
$86,237
$96,596
1,016
eign
410,388
377,245
con¬
of for¬
546,802
691,234
subs....
65,126
(par $100)—
against
66,447
2,250,000
in sub. cos...
1,397,529
960,150 8% pref. stock
2,250,000
5% pref. stock
(par $100)... 17,156,900
mtges., other
loans, defd. recelvs.,&c.,less
25,640,000
Dr544,852
Paid-in surplus. 16,928,746
Earned surplus. 54,404,882
b Common stock
262,502
927,066
236,123
50,488,927
c
Treasury stk._
17,156,900
25,640,000
Dr544,852
16,928,746
50,317,485
51,805,870
1,350,409
^
Special deposlts.
a Land,
bldgs.,
machry.,plant
&
equip., at
Goodwill, pats.,
1
a
817,694
for depreciation of
reserve
132,903,520 127,053,235
Total
132,903,520 127,053,235
After
in 1935.
1
1,149,709
licenses, &c._
Defd. charges__
$38,004,058 in 1936 and $38,486,317
b Represented by 7,500,000 shares common
stock no par.
c
Rep¬
by 2,052 shares of 5% pref. stock and 84,913 shares of common
441.
Public Service
Co. of
New
Hampshire—Registers with
SEC—
See list given on
$97,189
$78,253
$88,189
first
page
of this department.
has filed an amendment with the Securities and Exchange
postponing the proposed offering date of its securities to
The company
593
$87,253
9,000
for depreciation
1,000,000
4,000,000
Min.stkhdrs'int.
ac¬
Commission
Other income (net)
1,000,000
4,700,000
25,591
12,250
Maintenance
than Federal income tax)
for
of ac¬
version
44,629,715
counts
Other secured
reserve
3,900,740
4,463,466
1,497,056
Matl. & products
ence upon
42,793,977
quis., sec'd.
Loans
res.
.
stock of $4 each stated value.—V. 143, p.
$133,854
34,488
Operation
General
of
For
taxes..
Insur. reserves.
Loans to empls.,
less reserve:
resented
Co.—Earnings—
6 Months Ended June 30—
Taxes (other
matls.,
cost or market
Total..
Inc.-—Registers with SEC—
first page of this department.
Pinellas Water
&
the
4,604,338
4,650,549
1,637,441
&c
Accrued
price equal.res
Exchange differ¬
of mdse.
cost
dividend of 15 cents per share on
Pine Products Chemicals,
Stocks
wages,
contingencies.
res..
—
the com¬
stock, payable Aug. 25 to holders of record Aug. 15.
This will be the
dividend paid since July 1, 1930, when a payment of 37M cents per
a
less
rec.,
payable,
accrd.
Debtors & notes
$
$
Liabilities—
Accts.
short-
&
1935
1936
1935
1936
Assets—
the capital stock, par
per
$2.11
$2.23
$2.39
Consolidated Balance Sheet June 30
XJ. S. Govt. sees.
semi-annual dividend of $3 per
$54,404,882 $50,317,485 $47,370,013
Balance close of period
Earns, per share on 6,325.087 (no par
shares common stock
$1,715,753
Pepperell Mfg. Co .—Doubles Dividend—
a
191,723
2,796,483
Minority stockholders int. in earnings
of sub. companies
time deposits.
The directors have declared
$19,638,101 $22,239,140 $16,699,719
profit..
Federal income tax
Total surplus
$1.77
Earnings per share
-r-V. 142, p. 4351.
$19,470,978 $21,810,110 $16,128,625
167,123
429,030
571,094
Profit from operation.
Gross
754,216
operating revenues—net
was
,
1934
1936
1935
$179,748,057$156,800.054$116 ,593,143
,130,382
Discounts, allowances & returned gds.
9,386,893
8,647,551
8
Cost of goods sold
.116,376,034
95,468,231
63 ,304,806
Expenses exclusive of depreciation— 31,030,890
27,059,850 25 ,795,840
Depreciation
3,264,199
3,268,309
3 ,085,303
Equipment, inventory adjustment &
148,187
equipment scrapped
219,062
546,003
Years Ended
$0.58
Maintenance
share
0.>«
(& Subs.)—Earnings—
Procter & Gamble Co.
Cr2,104
Operation
first
$853
$1,207,198
Total gross earnings
Gas purchased
mon
$41,960
amounting to $134,348) and current liabilities of $860,807.
A plan of reorganization also filed in general provides for giving the
bondholders 16 shares of new ($50 par) common stock in place of each
$1,000 bond and giving one share of such stock in place of each 10 shares
of preferred stock now outstanding.
On this basis the bondholders would
receive about 90% of the equity stock and the preferred stockholders the
balance.
The plan does not contemplate making any changes with reference
to the 1st mtge. which was recently extended to July 1, 1941, or in any
way affecting outstanding leases or current creditors.—V. 133, p. 3799.
Cr2,668
1936
Shares in the hands of the
$61,274
35,000
25,420
Massachusetts corporation (owning the old Atlantic
located at 10 Post Office Square, Boston, has
filed a petition of debtor in the Federal Court, Boston, in which it seeks
to reorganize under Section 77-B.
Corporation asks that it be temporarily
continued in possession of its estate; also that it be authorized to continue
the operation of its business.
The baiance sheet as of June 30 shows current assets of $169,836 (cash
The
$1,309,977
$37,735,839 $35,217,157
on
$97,125
30,000
25,165
National Bank Building)
Cr3,651
Earnings for 12 Months Ended June 30
Interest
1,872
$7,428
143, p. 283.
—V.
$389,871
675,774
Gas sales
Other
219
dividends and surplus
Balance for common
20,629
26,835
131
Appropriations for retirement reserve
Preferred dividend requirements
Cr2,926
Shares in hands of public
208,693
iku'i
$8,545
Balance
$627,780
664,421
$0.94
Net income
$319,304
m.233
-—--
Gross sales
Amortization of debt dis¬
Earnings
charges
Mos.—1(^35
$332,905
S?I:8II
8£TaSrng!:::::::::
Post Office
Subs.)—Earnings—
1936—12
1936—Month—1935
Period End. June 30—
Peoples Drug Stores, Inc.—Sales—
Month of■—
January.__
February
118,124
121.
143, p.
Interest
$270,445
$252,094
72,607
101,580
Net after rents
1933
1934
$243,999
69,870
78,474
$317,576
Net from railway—
Ry.—Earnings.1935
1936
June—
Gross from railway
Ponce Electric
Abandonment—
The
Aug. 8, 1936
Chronicle
Aug. 29.
Bonds Awarded—
Total income
Provision for depreciation
Balance available for fixed charges.
-V.
140,
p.
9,000
Halsey, Stuart & Co., Inc. has been awarded $1,000,000 3H% first
mortgage bonds, due Aug. 1, 1961, on their bid of 103.37.
Reoffering of
the bonds to the public is scheduled upon completion of the registration
statement.—V. 143, p. 769.
1497.
Public
Pioneer &
Fayette RR.—RFC Loan Extended—
The Interstate Commerce Commission
July 30 approved the extension
for a period of not to exceed six months of the time of payment of $2,000
of the loan to the company by the Reconstruction Finance Corporation,
maturing July 31, 1936 in the amount of $3,000.—Y. 142, p. 4189.
Pointer Brewing
See list
on
Co.—Registers with SEC—
given on first page of this department.
and
Co.
of
Oklahoma—Admitted to Listing
The New York Curb Exchange has admitted the 1st mtge. bonds, series
A, 4%, due Feb. 1, 1966, to listing and registration.—V. 143, p. 769.
Purity Bakeries Corp.—10-Cent Dividend—
The
"
Service
Registration—
directors
common
have declared
a
dividend of
cents per share on the
holders of record Aug. 15.
10
stock, no par value, payable Sept. 1 to
Volume
Financial
143
and including March
quarter of 1935 of $671,111, equal to 73 cents a share on 920,276 shares of
$3.50 first preferred now outstanding.
For the six months ended June 30, the net profit of $1,763,779 is equal
2, 1936.—V. 142, p. 3361.
Public Service Co. of Nor. 111.
Period End. June 30—
Electric,
gas,
water
heat
$7,753,472 $17,594,219 $16,073,972
Other oper. revs.—net..
Total gross earnings--
697,077
1,352,630
349,501
689,283
434,391
785,546
Approp. for deprecia'n.
$8,800,051 $19,732,395 $18,154,376
908,727
1,822,183
1,813,087
805,208
2,033,169
1,736,808
2,551,700
5,932,719
5,100,959
1,064,399
769,446
398,123
331,512
976,414
786,769
401,325
101,104
217,644
209,095
139,763
521,552
341,103
96,918
58,887
22,779
1,007,690
2,000,000
2,014,593
from oper_
Otherincome—
$2,174,828
87,900
$2,463,630
$2,262,729
1,419,671
6,980
$2,502,778
1,583,267
18,217
Gas
purchased-Operation— .
Maintenance.
State 3% pub. util. tax.
Other State & local taxes
Fed. 3% tax on electr'ty
Federal income tax
Other Federal taxes
Net
earns,
earnings.
Interest
funded debt-
on
Int. onunfund. dt. (net)
Amort, of dt. dis. &exp.
Net
Div. req. on pref. stock.
available
Amount
115,940
208,556
$720,136
255,387
$692,736
$464,748
income
$4,735,882
213,724
$5,323,626
81,133
$4,949,606
2,842,050
28,608
267,170
$5,404,759
3,197,133
37,666
392,794
$1,811,776
510,775
39,147
$1,777,164
$436,895
255,841
511,683
com.
stock
stock outst'g
Earnings for 12 Months Ended June 30
1935
1936
Electric,
gas,
Period End. June 30—
Teleg. & cable oper. re vs.
Tel eg. & cable
oper. exps.
Other oper. revs.—Def.
,
Uncoil.
oper. revenues.
_
Taxes assignable to oper.
Inc.—Earnings—
1936—Month—1935
1936—6 Months—1935
$2,010,843
$317,939,1 $2,192,025
$361,466
1,869,628
300,998
2,014,909
338,214
28,177
5,099
'
35,261
4,384
6,000
1,000
6,000
1,000
67,871
11,282
97,330
15,624
$2,244
42,404
def$440
46,918
$38,525
257,143
$39,166
265,647
$44,648
29,722
Oper. income
$46,478
36,224
$295,668
195,380
$304,813
217,665
$14,926
$10,255
$100,288
$87,148
•
____
Non-operating income.
_
Gross income.
Deductions.
Net income
—V. 143, p. 285.
_
Realty Foundation, Inc.—Distribution—
The holders of the guaranteed participating 6% gold bonds, series B, C,
E, are notified that a second distribution is being effected at the
office of the Continental Bank & Trust Co., 30 Broad St., N. Y. City,
to the several amounts listed per each $500 face amount bond:
D and
To bondholders who have not received 6% dividend on
(a)
heat and water
$33,816,236 $31,161,082
revenues
Charges to other utility companies in equalization
of generating capacity among such companies.-
2,701,945
2,788,212
Other operating revenues—net
1,410,862
1,349,905
policyholders
claims from liquidation of General Surety Co., nor first dividend of 4%%
from the general funds from liquidation of General Surety Co., nor final
dividend from Irving Trust Co., trustee in bankruptcy for Realty Founda¬
tion, Inc., series B, $48; series C, $55.81; series D, $53.64;
for
$1,301,001
$1,265,481
624,919
625,988
624,919
625,988
Earn.persh.oncom.stk_ :
$0.74
$0.70
$2.08
$2.02
x In equalization of
generating capacity among such companies.
common
Shs. of
R. C. A. Communications,
1,394,130
686,273
$9,495,031
898,795
902,257
2,967,521
527,440
152,754
510,384
105,660
206,652
48,737
1,000,000
Power purchased
capitalization, in the first half of 1935.—V. 143,
common, based on present
p. 769.
1936—6 Mos.—1935
1936—3 Mos —1935
$8,371,357
Charges to other utility
companies (x)
Net
after six months dividend requirements on the new preferred to one cent a
share on the common, against $2,289,136 or five cents a share on the
(& Subs.)—Earnings—
and
revenues
935
Chronicle
A like payment was made on June 1 last and prior to then regular quarterly
dividends of 25 cents per share had been distributed from June 1, 1932 to
series E, $57.20.
(b) To bondholders who have not received 6% dividend on policyholders
claims from liquidation of General Surety Co., nor first dividend of 4)4 %
from the general funds from liquidation of General Surety Co., but have
received the final dividend from Irving Trust
Co., trustee in bankruptcy
Realty Foundation, Inc., series C, $51.51; series D, $49.67; series E,
$52.76.
(c) To bondholders who have not received final dividend from Irving
Trust Co., trustee in bankruptcy for Realty Foundation, Inc., but have
received 6% dividend on policyholders' claims from liquidation of General
Surety Co., and first dividend of 4)4 % from the general funds frormliquida¬
tion of General Surety Co., series B, $3.93; series C, $6.80; series D, $4.16;
series E, $6.69.
(d) To bondholders who have received 6% dividend on pohcyholders
claims from liquidation of General Surety Co., and first dividend of 4)4%
from the general funds from liquidation of General Surety Co., and fuial
dividend from Irving Trust Co., trustee in bankruptcy for Realty Founda¬
tion, Inc., series B, $0.88; series C, $3.87; series D, $1.03; series E, $3.38.
Payment may be received by presentation of the bond with the following
and subsequent coupons attached: Series B, Feb. 1, 1933; series C, Jan. 1,
1933; series D, May 1, 1933; series E, Feb. 1, 1933.—V. 141, p. 4023.
for
..$37,929,044 $35,299,199
3,680,756
3,669,657
3,720,787
3,231,792
11,411,729
10,538,753
1.947,268
1,573,519
616,213
1,760,641
1,356,024
433,423
413,525
Gas
purchased
Operation
Maintenance
State 3% public utility tax
Other State and local taxes..
Federal 3% tax on electricity
Federal income tax
!
805,883
545,601
155,251
4,007,419
Other Federal taxes..
Appropriation for depreciation
110,442
3,781,146
Net earnings from operations
Other income
$9,738,958 $10,202,192
5,771,460
6,448,592
74,587
105,021
501,940
775,540
Regal Textile Co., IncRegisters with SEC—
349,288
Interest on unfunded debt—net...
Amortization of debt discount and expense
Netincome—
Amount available for
Shares of
common
Earnings
per
common
stock outstanding.
share
$1,849,672
625,988
624,919
$3.79
on common stock
$2.95
*
—Y. 142, p. 4352.
Queens Borough Gas & Electric Co. —Earnings—
Per. End. June 30—
Gross
1936—6 Mos.—1935
(all sources). $2,423,171
Total exps. (incl. retire¬
ment exp.) & all taxes
1,860,735
Total fixed charges
481,244
revs,
Net income,
$81,191
1936—12 Mos—1935
$2,334,136
$5,265,584
$5,079,287
1,753,245
496,789
3,658,077
955,246
3,579,646
1,004,843
$84,101
The directors have declared a dividend of
$.652,260
$494,796
-V. 143, p. 769.
Rochester
May 31—
1936—Month—1935
1936—5 Mos.—1935
income..—$14,271,767 $12,906,475 $62,390,883 $57,385,257
7,741,183
7,352,156
36,934,559
34,361,360
391,944
132,810
1,542,241
648,694
Int. & disc, on fund, debt
132,742
145,786
674,903
727,857
Other deductions
1,180
925
12,394
11,703
Rail transp. rev. (pay¬
ments to rail & oth.
257,365
$232,601
$264,651
197
383
Gross corporate income
Interest on funded debt—
$232,799
113,454
$265,034
illegal business practices
was
defendant corporation.
The defendants are Radio Corp. of America, RCA Manufacturing Co.,
John S. Harley, Inc., Charles A. Hahne and Laurence Kestler Jr.
Consolidated Statement of Income and Surplus for Stated Periods
Period End. June 30—-
1936—3 Mos.—1935
1936—6 Mos.—1935
Gross income from
oper.$21,682,214 $18,742,979 $43,942,526 $39,663,321
Otherincome---..157,566
419,919
439,574
765,366
$19,162,898 $44,382,100 $40,428,687
.«
selling
and
exps__
20,204,753
patents
758,123
150,000
Interest
80,816
Depreciation
17,302,820
128,105
661,112
150,000
40,353,404
134,771
1,488,545
300,000
35,657,934
256,599
1,414,668
300,000
Prov. for Federal income
taxes
169,000
249,750
341,600
510,350
$477,088
Total surplus
conv.
$1,763,779
$2,289,135
10,185,638
12,401,099
13,518,354
$13,733,731 $10,856,749 $14,164,879 $15,807,490
Dividends:
$3.50
$671,111
13,256,642
.
"A" preferred
25,420
6,090
1,362
25,420
10,315
3,082
$57,326
$81,455
_
of prior years.
Netincome
3186.
•
Rockford Electric Co.—Bonds Called—
& ref. mtge. 5% 30-year gold bonds, due March 1.
A total of $11,000 1st
1939, has been called for redemption on Sept. 1 at 105 and
ment will be made at the Guaranty Trust Co., New York
934.
interest.
Pay¬
City.—Y. 141,
•
Co.^—Earnings—
Mfg.
Provision for inventory variations and
7%
1st pref__
431,143
805,241
431,116
Surplus at June 30--_$12,497,346 $10,425,632
862,291
5,381,857
805,241
Loss
The net profit of $477,088 for the quarter ended June 30,
1936, giving
$22,017
73,067
—-
135,385
$186,435
;
Consolidated Balance Sheet Nov. 30
Liabilities-
Assets—
Cash in banks and on hand--.
Notes, drafts & accts. receiv
Cash surrender value of life
$105,909
x432,831
79,967
insurance policy
$411,750
132,444
Notes payable, banks. —_____
banks._______
Notes
Accounts payable, trade
Accounts
5.072
Accrued property taxes—...
Accrued
U.
S.
&
Canadian
•
1,765
capital stock taxes
818,522
Investment in affil. co., at cost
100,000 Accrued payrolls, commissions,
&c
9,985
Fixed assets
yl,590,345
2,000,000
Prepaid insurance, interest, &c
20,500 Capital stock (par $100)
590,060
Good-will and patents
3,002 Surplus
Inventories
_---
...
—
x
—$3,151,077
After
allowance for
$119,252.
p. 3288.
y
After
.$3,151,077
Total—
possible losses on accounts, notes
allowance
for
and drafts of
of $1,525,824.—V.
depreciation
138,
San Jose Water Works—Income Account—
1936
6 Months Ended June 30—
operating revenue
Other income (net)
-
—
Provision for depreciation
Interest
on
funded debt
Interest
on
unfunded debt
Amortization of debt discount and expense
(est.)
Net income available for dividends
-V.
143,
p.
770.
$192,095
603
$194,197
43,575
49,500
299
2,990
14,675
$192,699
$83,158
$86,306
•
St. John Gold &
See list given on
$312,096
$193,546
651
Net
Total
1935
$322,454
128,908
Operating revenue—water-.
operating expenses
Total
Provision for Federal income tax
$12,497,346 $10,425,632
effect to shares to be outstanding under the recapitalization plan is
equiva¬
a share on the new 920,276 (no
par) shares of $3.50 cum
convertible first preferred.
This compares with net profit in the .Tune
lent to 52 cents
and pro-
obsolescence.
Depreciation
Total
Total gross income_--$21,839,781
Cost of sales, eon. vi/vi
gen. oper.,
of
Cr700
Interest charged to construction —
Provision for retirements and replacements
Net income after all charges but before depreciation
vision for inventory variations and obsolescence
filed in New York Supreme Court by the
Philco Radio & Television Corp. of Philadelphia.
,The complaint,
although asking no specific amount, demands sub¬
stantial damages.
The amount is left to the discretion of the court.
Philco asks that the defendant be restrained from continuing to obtain
confidential information,
data and documents from employees of the
plaintiff.
A surrender of information and data already obtained is also
sought.
The plaintiff demands the names of all persons acting for the
Amortization
95
29,302
Cr36
Amortization of debt discount and expense
—V. 142, p.
116,060
53
29,127
Earnings for Year Ended Nov. 30, 1935
Corp. of America—Sued by Philco—
administrative
•"
Miscellaneous interest.
$5,274,798 $23,226,786 $21,635,643
Suit to enjoin and restrain this company from using alleged unfair and
develop.,
$522,016
Net earnings.
Other income..
Russell
$6,004,718
1935
1936
$509,906
277,306
p.
privi¬
exp.
__
Corp.
Service
Water
Year Ended June 30—
—V. 143, p. 122.
Radio
Ontario
Operating revenues
Total operating expenses.
.
Operating expenses
Express taxes
carriers,
leges)
Lake
&
Prov. foir int. on Federal inc. tax
Railway Express Agency, Inc.—Earnings—
Per. End.
share on account of
per
Income Account—
Provision for Federal income tax.
Revenues &
$3.50
accumulations on the 7% cum. first preferred stock, par $100, payable
Aug. 15.
This dividend clears up all arcruals to June 15, 1936.
A divi¬
dend of $5.25 per share was paid on July 15, and March 16 last, one of $7
on
Jan. 2, 1935, and one of $7 per share in 1934.
Previously regular
quarterly dividends of $1.75 per share had been paid each quarter up to
and including July 1, 1932.—V. 143, p. 769.
$2,873,038
1,023,366
$2,368,813
stock
Corp.—Preferred Dividend—-
Reliable Stores
123,455
$3,390,969
1,022,156
Dividend requirements on pref. stock
department.—V. 143, p. 122.
See list given on first page of this
$9,389,670 $10,078,736
Net earnings
Interest on funded debt
,
..
.
,.
Total gross earnings
Power purchased
Copper Co.—Registers with SEC-
first page of this department.
120,001
41,098
w
49,920
463
3,051
11,861
Financial
936
St. Louis-San Francisco & Texas
Net from railway
Net after rents
From
.
Gross from railway.
587,357
def80,223
305,587
_
$96,920
11,655
def21,639
&
462,598
def62,769
def241,839
477,929
def36,186
def221,251
The company has withdrawn
Loan Request—
Ry.—Withdraws
Atlanta
its request made June 9 to the Interstate
from the Reconstruction
4037.
Commerce Commission for a loan of $1,500,000
142,
Finance Corporation.—V.
directors have declared a dividend of 75 cents per share on the
stock, payable Sept. 1 to holders of record Aug. 20.
This com¬
with 50 cents paid on June 1, last, 25 cents on March 2, last, and
$3.50 per share on Dec. 30, 1935, this latter being the initial payment on
the issue.—V. 142, p. 3692.
The
common
.
Savannah
dividend of $1.50 per share on account of
cum. pref. stock, par $100, payable Oct. 1 to
holders of record Sept. 15.
A like payment was made on July 1, last and
compares with $4.50 paid on April 1, last, $1.50 on Jan. 2, last and $3 paid
on Oct.
1, 1935 and on Oct. 1, 1934.
Regular semi-annual dividends of
$3 per share had been distributed up to and including Oct. 1, 1933.
Accumulations after the payment of the current dividend will amount
to $1.50 per share.
the 6%
Interest .1
Gross earnings
Operation
Maintenance
Taxes
Interest & amortization.
Spiegel, May, Stern & Co
Month of—
January-February
$436,579
175,000
$409,321
July.
60,000
$52,464.
$50,206
.149,114
1,543,861
$6,299,777
7,682,492
$377,870
$1,382,715
^
3,299,647
3,795,637
3,729,605
——-
3,350,817
,
2,356,850
1,714,051
2,791,924
June
—V.
2,470,169
—
$320,710
663,633
948,452
861,980
901,041
782,803
$927,917
1,421,846
2,732,512
2,322,133
2,193,078
1,437,008
1,111,870
3,108,329
4,044,554
—-
May
1933
1934
1935
$1,260,469
1,617,261
1,945,122
March
Inc.—•Sales—
,,
1936
$1,457,489
April
Debenture dividend requirements
Preferred dividend requirements
1,493,740
$7,304,622
7,682,492
sur$l,174,659
Deficit.
208,099
396,660
150,000
149,114
60,000
1,183,456
*4Note—Total revenues include amounts estimated as $45,530, $143,050 and
$123,200 for the first six months of the years 1936, 1935 and 1934, re¬
spectively, which may be refunded in whole or in part in the event of adverse
rate case dedisions.—V. 143, p. 125.
$1,804,017
683,358
106,577
$33,144
$38,485
Balance.
27,070,410
$8,857,151
7,682,492
-----
--
Dividends paid
$1,879,968
721,075
115,489
203,916
402,907
Appropriations for retirement reserve.
.
27,962,457
29,412,249
Net income------
1936—12 Mos.—1935
1936—Month—1935
$149,964
$158,670
58,569
61,130
8,784
10,618
16,969
16,644
32,822
31,466
Per. End. June 30—
1936
1935
1934
$39,452,856 $36,760,819 $34,914,048
6 Months Ended June 30—
Total revenue
Expenses, including taxes
p.
& Power Co.—Accumulated Div.—
Electric
on
Co.—Earnings—
Southwestern Bell Telephone
The directors have declared a
accumulations
Utilities Co.—Dividend
Gas
pares
123.
143, p.
Savannah
Consolidated
Southwest
Again Increased—
1933
$81,585
def8,991
def38,461
1—
Jan.
Net from railway—
Net after rents
—V.
1934
$83,701
def30,602
def60,137
453,787
defll4,510
def280,947
$126,713
8,243
def32,029
_
Ry.—Earnings.—
1935
1936
June—
Gross from railways
Aug. 6, 1936
Chronicle
545,145
143, p. 287.
Standard Gas & Electric
Co.—Weekly Output-
public utility operating companies in the Standard
1, 1936 totaled 99,160,612 kilowatt hours, an increase of 13.3% compared with the corres¬
ponding week last year.—V. 143, p. 772Electric output of the
Balance for
common
dividends and surplus
-V. 143, p. 286.
Gas & Electric Co. system for the week ended Aug.
Sedalia Water Co.— ■Income AccountStandard
1936
1935
Operating revenue, water
Operating expenses
$78,534
32,759
$76,275
31,756
Net operating revenues.
Other income (net)
$45,774
$44,518
6 Months Ended June 30—
common
110
Total
Provision for depreciation—
on funded debt..
Interest
75
$45,884
6,876
25,740
:
$44,593
6,286
25,740
433
433
1,834
Y
1895.
$11,000
$11,102
.
Soss Manufacturing
See list given on
first
page
The directors
of this department.—V. 143,
p.
771.
Aug. 4 declared a dividend of 25 cents per share on the
$15, payable Sept. 15 to holders of record Aug. 19.
This compares with 20 cents paid on March 16, last and 15 cents on Sept. 16
and March 15, 1935.
During 1934 four quarterly dividends of 15 cents
per share were distributed.
For complete dividend record see June 12
issue of "Industrial Number" of "Railway & Industrial Compendium."
—V. 143, p. 124.
share on the
no par value, both payable Sept. 15 to holders of record
Similar payments were made on June 15 and March 16, last.
Standard Oil Co. of Ind.—Extra Dividend—
declared an extra dividend of 25 cents per share
quarterly dividend of like amount on the com¬
stock, par $25, both payable Sept. 15 to holders of record Aug. 15.
An extra dividend of 15 cents was paid on June 15, last.—V. 142, p. 3525.
Standard Steel Construction Co., Ltd.—Accum.
Sterling Products, Inc.—Earnings-
Southington (Conn.) Hardware Co.—Resumes Divs.—
The company paid a dividend of 12 H cents per share on the capital
stock, par $25, on Aug. 1.
This was the first payment made since Nov. 1,
1935 when a regular quarterly dividend of 25 cents per share was dis¬
tributed.
The 25-cent rate had been paid each quarter since and including
1, 1932.—V. 142, p. 1135.
profit after charges
$2,318,263
& Federal taxes
1,715,656
$1.35
Shares capital stock
Earnings per share
—V. 142, p. 3190.
$464,023
$471,939
151,752
7,213
2,853
158,798
1,999
—-
regulatory commission expense
General exps. transferred to construction..
16,913
7,281
CV7.940
7,415
23,355
45,335
2,326
1,194
$202,786
expense
Other
$217,260
Cr5.631
—8,400
Provision for uncollectible accounts
41,257
51,079
Maintenance.
Taxes: Real property
Excise.
-
2,311
....
_
-
Corporate
Net earnings.
Other
income
340
534
$203,127
$217,795
158,105
26,133
6,076
12,175
...j.
Gross corporate income.
Interest on funded debt
158.105
Interest, parent and affil. companies
Miscellaneous interest
Amortization
or
36,816
1,035
....
debt discount and expense
12,175
Crl71
Interest charged to construction
Provision for retirements and replacements
Provision
for
interest
on
Federal
Crlll
18,750
20,750
income
tax
162
request.
■
One of the issues is certificates of deposit for
"stamped" 20-year 7%
4193.
p.
Sullivan Machinery Co.—Earnings—
1935
1936
& Fed. inc. tax &
profits
Profit before prov. for deprec.
Provision for depreciation
,__
Net profit before prov. for Fed. inc. tax & surtax
on undistributed profits
—V. 142, p. 3871.
$210,110
105,235
$40,963
105,299
$104,875
loss$64,335
r
.
Sun Ray Drug
See list given on
Co.—Registers with SEC—
first page of this department.—V. 143, p. 604.
Swift & Co.—New Vice-President—
The company announced on July 28 that O. E. Jones has been made a
Vice-President in charge of lard and vegetable oil refineries, cottonseed
oil mills and gins,
margarine and salad dressings.—V. 143, p. 445.,
Syracuse Lighting Co., Inc.—Earnings—
Period End. June 30—
Operating revenues
Oper. revenue deduc'ns.
1936—3 Mos—1935
1936—12 Mos.—1935
$2,713,589
$2,530,488 $10,550,620 $10,064,263
2,150,864
*2,009,116
8,357,579
*7,908,473
$562,725
$521,372
163
$2,193,041
1,060
$2,155,790
98
$562,823
269,837
$521,535
286,848
$2,194,100
1,112,065
$2,156,767
1,166,345
$292,986
Operating income
Non-oper. income, net_Gross income
135
Net
3189.-
p.
Stinnes
sinking fund gold debentures due Oct. 1, 1946.
The other issue is certifi¬
cates of deposit representing "stamped" 10-year 7% gold notes due Oct. 1,
1936.
The effective date of continuance was July 17, 1936.—V. 142,
Ded'ns from gross income
142,
issues of Hugo
*$234,686
977
$3,469
,
Net loss
—V.
two securities'
of
$25,747
prior years
.
$4,726,913
1,730,598
$2.73
Industries, Inc., on the New York Curb Exchange were continued by the
Securities and Exchange Commission Aug. 5 pursuant to the Curb Exchange
surtax on undistributed
1935
1936
'
Operating revenues
General operation.
case
$1.27
Industries, Inc.— Unlisted Status—
privileges for
trading
$5,024,909
1,715,656
$2.92
$2,197,530
1,730,598
6 Months Ended June 30—
Consolidated Water Co., Inc.—Income Acct.
Year Ended June 30—
Rate
1936—6 Mos.—1935
1936—3 Mos.—1935
Per. End. June 30—
Net
Unlisted
dividend of 5 cents per share on the common
stock, par $1, payable Oct. 15 to holders of record Oct. 1.
An initial pay¬
ment of like amount was made on April 15, last.—V. 142, p. 2004.
South Bay
Div.—
The directors have declared a dividend of $3 per share on account of
accumulations on the $3 cum. red. class A preference stock, no par value,
(Hugo) Stinnes
Nov.
Dividend—
The directors on Aug. 3
Corp.—5-Cent Dividend—
a
(Del.)—Extra
extra dividend of 5 cents per share
in addition to the regular
on
Sonotone
an
payable Aug. 15 to holders of record July 31.
This will be the first div.
paid on this issue since Oct. 1, 1933 when a quarterly distribution of 75
cents per share was made.
A similar payment was made on Jan. 1, 1933,
the April 1 and July 1,1933 dividends having been omitted.—V. 141, p. 609.
Co.—Registers with SEC—
par
The directors have declared
Calif.
—V. 143, p. 445.
Socony-Vacuum Oil Co., Inc.—Dividend Increased—
capital stock,
of
declared
stock,
15.
Aug.
1,031
■and expense
Provision for Federal income tax (est.)
—Y. 131, p.
Co.
mon
Amortization of debt and preferred stock discount
Net income
Oil
The directors on Aug. 4
in addition to the regular quarterly dividend of 25 cents per
income
$1,082,035—*$990,423
*
South Carolina Power
Changed to give effect to major adjustments made later in the year 1935.
No provision has been made for possible surtax on undistributed
-V. 142, p. 4355.
profits under the 1936 Federal income tax law
Co.—Earnings—
Note-
[A Subsidiary of Commonwealth & Southern Corp.]
Per. End. June 30—
Gross
1936—Month—1935
$230,089
Oper. exps. & taxes
Prov. for retire,
reserve.
Int. & other fixed chgs__
Divs. on pref. stock
Balance
53,123
14,286
$218,064
117,988
13,000
53,486
14,286
$11,534
revenue
$19,302
133,144
18,000
1936—12 Mos.—1935
$2,743,816
$2,633,191
1,498,708
1,578,825
156,000
214,000
646,831
647,821
171,438
171,438
$131,730
$160,213
Telautograph Corp.—Earnings—
Period End. June 30—
Net
At
Co.—Earnings-
Oper. exps. & taxes
Prov. for retire, reserve.
Int. & other fixed chgs__
Divs. on pref. stock
a
1936—Month—1935
Texas
1936—12 Mos.—1935
$276,897
$246,800
157,978
23,141
26,615
45,206
136,551
23,141
27,215
45,206
$3,423,569
1,980,565
277,700
311,689
542,476
$2,998,866
1,696,392
277,700
$14,685
$311,138
$161,045
321,280
542,447
—V. 143, p. 445.
Southern Ry.—Earnings——Fourth
Sross earnings....
-V. 143, p.
772.
$0.33
$3,700,480
1935
Corp.—New
Vice-President—
Corp.—Extra Dividend—
The directors have declared an extra dividend of 25 cents per share in
addition to the regular quarterly dividend of like amount on
stock, par $25, both payable Oct. 1 to holders of record Sept.
p.
Jan. 1 to July 31
1936
1935
$3,245,690 $70,655,266 $60,393,446
the common
4.—V. 143,
605.
(& Subs.)—Sales—
Net sales of the company and its wholly-owned domestic subsidiaries for
the month of July 1936, amounted to $438,812.92, an increase of 58.84%
from the $276,261.63 reported a year ago, and a decrease of 19.63% from
the $546,003.70
Week of July
1936
Period—
$0.29
meeting of the directors on July 20, John C, Costello was elected a
143, p. 774.
Thermoid Co.
Balance.
$75,703
$0.16
Vice-President.—V.
$23,955
revenue
$66,759
$0.15
(par $5) shs. cap. stk.
—V. 142, p. 3695.
Ik. Subsidiary of Commonwealth & Southern Corp.]
Per. End. June 30—
$36,717
Tennessee Electric Power
Southern Indiana Gas & Electric
1936—6 Mos.—1935
$34,060
taxes
Earns, per sh. on 228,760
-Y. 143, p. 444.
Gross
1936—3 Mos.—1935
profit after charges
and
reported for June, 1936, when tne company reported the
largest tonnage in its history.
seven months period, January to July, 1936, amounted
$3,035,209.81, compared with $2,726,820.97; reported for the same
period last year, an increase of 11.14%.—V. 142, p. 4195.
Net sales for the
to
i.
Financial
Volume 143
H Thrift
Corp.-—Registers
Certificate
Investment
with
SEC—
See list
Rubber Co.
given on first page of this department.
Tilo Roofing Co.,
Consolidated Balance Sheet
Inc.-—Earnings—
Jan. 1 to
Jan. 1 to
Period—
Sales
937
The plantations had a profit of approximately $350,000 after provision
for depreciation and amortization of $866,000 and all other charges.
This
profit has not been included in the income account of the United States
tuly 18 1936 July 13 1935
Assets—
Cash
June
Marketable
30,*36*Dec. 31, '35 June 30,'35
.$11,504,048 $11,141,828 $U,347,873
145,878
147,397
156,950
19,022,184
19,418,383
15,918,981
4,053,087
2,699,756
2,564,722"
33,317,884 .29,138,163
30,286,764
securities
Accounts and notes receivable (net)
Accounts & notes rec. from affil. cos.
SI ,146,469
530,962
$975,845
Gross profit on sales
Branch office selling and general expenses..
$615,507
$477,835
486,181
390,567
Insurance fund at cost.
Net profit on sales..
Other income
$129,326
9,094
$87,268
13,211
Securities of affiliated companies
Misc. investments incl, mtges
$138,420
24,933
$100,479
27,178
—
Cost of sales
.
Other
;
...
charges.
498,010
$113,487"
Profit
or
loss
2,909
operation of subsidiary company
on
$73,301
3,412
$116,396
$76,712
as of July
18 shows current assets of
$961,522 against current liabilities of $235,339,—V. 143, p. 606.
Net profit.
The consolidated balance sheet
„
Timken
Roller-Bearing Co.—25-Cent Extra Dividend-—•
^ dThe directors
extra dividend of 25 cents per share
share on the
common stock, no par value, both payable Sept. 5 to holders of record
Aug, 18.
Previous extra disbursements were as follows: 25 cents on June 5
and March 5, last; $1 on Dec, 5, 1935, and 25 cents on Sept. 5, June 5,
1935, and on Pec. 5, 1934.
,
■
The company increased the regular quarterly dividend from 25 to 50
cents per share with the Dec. 5, 1935, payment.
See Y. 141, p. 2907, for.
on
Aug. 5 declared
an
in addition to a" regular quarterly dividend of 50 cents per
.
detailed dividend record.
Consolidated Income Account
Period End. June 30—
1936—6 Mos.—1935
1936—3 Mos.——1935
Net profit after deprec.,
Federal taxes, &c
$2,538,139
Shares capital stock out-
$2,160,341
2,411,380
2,411,380
standing (no par)-..
Earnings per share..—
-r-V. 142, p. 3696.
1935
9,576
Deductions from income
14,982
$100,820
10,958
$284,857
89,624
$111,779
93,029
$269,875
14,907
$378,626
134,860
$354,898
118,193"
Federal
for
31,361
$149,773
1,361,139
$201,158
1,191,084
$163,872
1,137,349
58,826
65,407
12,510
"$1,669,738 "$1,457,649
$1,157,355
127,091
$1,313,731
92,432
2,674
7,608
31*402
$1,327,884
$1,213,692
Extraordinary &
non¬
recurring expenses
SurplusJan.l
Balance of conting. res.
Total surplus.......
Preferred dividends
$ 18,750
1,073,221
54,495
10,889
......
_
Miscellaneous credits...
51,059
Miscellaneous deductions
Trans-State Oil Co.—Withdraws
— -
Registration—
given on first page of this department.—Y. 143. p. 287.
Tri-Continental
$8,498,485
6,768,131
51,000,000
5,945,000
$8,356,386
4,891,114
1,575,000
4,225,600
51,000,000
7,731,000
2,436,200
2,436,400
800,000
315,700
65,109,100
800,000
4,128,275
315,700
65,109,100
98,735,611
59,168,645
25,870,403
...
98,735,611
59,168,645
27,443,200
■
4,749,198
—
_
......
Total
$162,132,975 $159318,377 $162692,341
Called for payment Sept. 1,
1936.—V. 143, p. 447.
United Gas Improvement Co.—EarningsPeriod—
Divs.—Sub.
Ended June 30
1936—6 Mos.—1935
1936—12 Mos.—1935
$11,125,084 $11,136,255 $22,261,411 $22,846,166
Other companies——
2,881,729
3,181,828
6,034,262
6,950,186
Int., services to subs.,
compens. for oper, of
Phila. Gas
cos
753,837
699,697
Works, &c.
1,406,092
1,513,268
Net income
$13,210,388 $13,934,753 $27,011,572 $29,069,266
Dividends on pref. stock
1,913,040
1,913,040
3,826,080
3,826,080
Divs. on com. stock—— 11,625,877
11,625,875
23,251,755
25,576,922
—I
Balance----
Common
Corp.—Initial
def$66,263 def$333,736
def$328,529 sur$395,838
Bal. for com.stk., per sh.
Divs. paid, per share—
$.517
Consolidated Statement of
$.997
$.50
$.486
$.50
$1.00
$1,086
$1.10
Earnings {Incl. Sub. Companies)
(Excluding The Philadelphia Gas Works Co.)
Per. End. June30—
1936—3 Mos.—1935
1936—12 Mos.—1935
Oper. revs, of util subs.:
Electric
—$19,452,094 $18,554,631 $78,797,526 $75,292,469
Gas—
4,388,722
4,340,364
17,577,722
17,488,418
Ice & cold storage—
551,710
453,654
1,769,401
1,729,973
Transportation
457,717
420,140
1,738,864
1,631,704
Water
291,896
270,383
1,170,563
1,172,815
Steam heat.
182,125
190,975
822,841
762,038
Other
82,104
74,077
259,604
276,504
-
Dividend—
The directors have oeclared
an initial dividend of 25 cents per share on
payable Oct. 1 to holders of record Sept. 15.
the common stock, no par,
—V. 143, p. 446.
1,453,960
—
,
Surplus, June 30—— $1,518,679
:
71,669,518
1,409,475
•—*——$162,132,975 $159318,377 $162692,341
—V. 142, p. 4196,
See list
66,941,851
.
68,927
Net income
566,553
4,211,348
1,206,187
......
$1,125,952
25,066
23,309,485
Total income——$14,706,510 $15,071,920 $29,701,765 $31,309,620
Exps., prov. for taxes,
interest, &c.—
1,496,122
1,137,167
2,690,193
2,240,354
35,546
inc. & cap. stock taxes
673,388
3,976,791
877,688
Income (Company Only) Period
1933
1934
$339,991
$369,051
Total income
22,893,657
691,685
3,971,228
997,625
—-
$9,690,933
•, 6,289,162
6K% serial notes
3 year secured 6% notes.——
1st & ref. mtge. 5s (net)—
51,000,000
6)4% serial gold notes (net)
x3,836,000
Dominion Rubber Co., Ltd., 6% gold
bonds
(net)..
2,436,200
1st mtge. on U. S. Rubber Co. Building, New York—800,000
Reserves
6,873,843
Minority int. in capital stock of subs,
315,700
Preferred stock ($100 par)..——... 65,109,100
Common Btock, no par value—
Outstanding (net) 1,464,371 shs.
98,735,611
Less goodwill, patents, &,c
59,168,645
Less deficit..
23,784,929
v
1936
21,763,494
—
Liabilities—
Accounts and acceptances payable.Accrued liabilities
2,411,380
$1.87
$1.91
$0.89
..
Plantations, Inc
Total—..
x
2,411,380
—
.
Properties, plants and equip.* (net).. 65,327,321
Prepaid and deferred assets—.
1,338,641
$4,522,278
$4,606,995
*
Tung-Sol Lamp Works, Inc.—Earnings—
■
Inventories..
U. S. Rubber
,
$1.05
6 Mos.End. June 30—
Net profit from opers—
Miscellaneous income..
Provision
-
—-----
„
.
Union American
Investing Corp .—Debentures Called—-
All of the outstanding 5% gold debentures, series A, due June 1, 1948,
have been called for redemption as of Dec. 1, next, at 101)4 and interest.
Payment will be made at the City .Bank Farmers Trust Co., New York
City.—V. 143, p. 775.
'
United Aircraft Corp. (&
3 Months Ended June 30—
Sales and operating revenue
Cost of sales and expenses
Depreciation.....
—...
...
...
-
Prov.for Fed .inc. taxes
—x$6,855,736
—
6,514,423
—.
145,152
$2,764,582
2,657,847
130,632
Proy, for other taxes.-
$196,161
loss$23,897
50,933
262,360
—...
$247,094
15,657
32,180
1,649
.......—
....
-
—...
-----
$238,463
43,179
17,270
101
,
x
$197,608
-
—
on aver,
Includes proceeds from
$177,913
$0.08
shares outstanding:
sale of design and manufacturing rights and
6 Mos. End. June 30—
1936
Gross profit from oper— $2,888,696
1935
1934
Net sundry charges....
2,193,519
48,652
$993,280
403,315
71,850
$646,526
124*351
$518,116
112,144
$509,224
109,478
699,744
of
Dr8,665
Cr668
.
Depreciation.
...
....
v
$505,727
220,597
63,842
$221,288
93,524
Profits applic, to minor¬
ity interests.
509.501
Net inc.bef .int. & tax-
Net income--
Divs.
on
pref.
—
stks,
$126,480
45,371
63,565
Crll,734
58,616
130,091
183,312
121,008
180,883
1,157,588
1,185,607
Earns, avail, for com.
stks. of util. subs— $6,720,884
$309,445
$303,246
250,000
$1.24
91,034
.
Earnings
—V.
$1.56
per share.142, p. 3364.
250,000
$1.21
39,844
17,794
applic. to U.G.I. Co—
(& Subs.)- -Earnings—
6 Months Ended June 30—
Net sales, after all returns, discounts,
x
1936
1935
excise and
$57,722,837
45,305,863
$14,616,538 $12,416,974
Selling, administrative and general expenses
Interest
funded indebtedness
;
Other income charges (net)
Provision for Federal and foreign income taxes... a
on
Net income for the period
Deficit, Jan. 1
Surplus charges (net)
31,584
Def. int. & divs.
com.
stks.
—
Net worth per share of common stock-.-Net quick assets
Ratio
^
x No depreciation
provided on
operations:
i
44,701
133,825
176,569
1,945,170
33,833
1,791,005
7,440,354
8,463,454
$7,756,590 $31,373,730 $32,386,642
$7,949,252
Total
$423,046
$451,063
$1,814,502
$1,735,851
355,881
Expenses
116,628
813,191
504,232
62,500
271
Provision for taxes
Int. on notes pay., &c-_
34,000
283,545
Bal. applic. to capital
stocks of U. G. I
$7,136,325
102,428
-
,
of subs.—
Divs.
on
Bal.
$5 div. pf. stk-
applic.
to
-
956,520
$7,188,899 $28,683,537 $30,146,288
956,520
3,826,080
3,826,080
$6,179,805
$6,232,379 $24,857,457 $26,320,208
com.
stk. of U.G.I.
Deficit, June 30
143,373
Other inc. of U.G.I. Co.:
Divs.—oth.
than on
1,810,099
33,861
$767,367
28,101,780
108,787
10,919
$5,766,719 $23,799,551 $23,746,619.
$6,124,414
9,522,102
$2,187,902
392,644
on cum.
pref. stks.
of subs,
applic. to U.G.I., de-
1,514,808
25,870,403
•
Heating Co. applic. to
10,337,863
24,041
551,924
45,498
.
.
int. & miscell. inc—
sales taxes, transportation and allowances.
$71,400,634
Cost of goods sold, incl. deprec. of active plants. 56,784,096
4,636,845
$5,798,303 $23,810,470 $23,889,992
Total.
$6,124,414
Losses of Nashville Gas &
j
Earns." of subs, applic.
to U. G. I, Co
$66,545
25,000
$0.27
4,619,533
$5,758,459 $23,764,972 $23,4^7,348
G.I. Co
$6,106,620
Earns, of non-util. subs.
ducted above-——
United States Rubber Co.
519,067
741,520
Bal. of earns.'of utility
subs, applic. to U.
.
-
Consolidated net inc.
$420,790
Shs. com. stk. out.(no par)
255,498
523,559
732,283
$6,316,209 $25,983,212 $25,692,704
557,750
2,218,240
, 2,185,356
614,264
Less—Minority interests
U, G, I. Co
1
income taxes
Profit on debs, retired..
1,526,111
$7,473,797 $30,602,745 $30,329,549
$7,906,491
14,565
.---36,030—
1,956,598
&
other prior deducts—-
Drl,283
$400,413
38.550
$397,307
$511,825
'
6,068,538
$3,005,573 $11,880,520 $12,067,247
$2,962,361
-
Debenture interest
Federal, State & foreignL
.
$60,354,012 $56,222,649
disc't
debt
Other deductions..--—
*
Net inc. before depr..
4,089,144
1,823,382
4,985,312
445,379
1,474,096
1. .$10,470,999 $10,283,272 $41,782,509 $42,131,272
Int. onfund. & unfd. dt.
Amort,
1933
$936,117
346,493
80,400
7,531,917
4,396,377
1,990,944
4,627,151
Gross income--------$11,170,743 $10,792,773 $43,739,107 $43,657,383
(& Subs.)—Earnings—
JDrl0,350
Commercial expenses—
7,970,258
Total oper. expenses--$14,935,369 $14,020,952
Operating income— .
Non-oper. income—
33,165,743
$0.08
-
licenses of $12,000 and royalties from licensees of $41,868.—V, 143, p. 446.
United-Carr Fastener Corp.
35,199,251
4,728,644
1,840,147
962,065
1,904,129
1,200,125
485,769
1,517,445
expense.
Net profit
Earnings per share
8,125,088
1,174,177
1,155,250
&
Prov .for oth.Fed.taxes
—.—...
Minority interest
8,672,651
—
for renewals
Prov.
1935
.............
——
Total income.
Other deductions...
Federal taxes
Maintenance
Subs.)—Earnings—
.......—
income..
Operating expenses:
Ordinary.
replacements-.--.-
1936
Operating profit
Other
Total oper. revenues.. $25,^406,368 $24,304,224 $102136,521 $98,353,921
$23,784,929 $27,443,200
$10.78
$8.28
$52,062,986 $41,227,190
4.3 to 1
3.2 to 1
plants not required for manufacturing
Earns, per share—Com.
stk. outstand. end of
period
-
$.266
,
'
$.268
$1,069
$1,132
Note—Above figures, do not include any provision for surtaxes on undis¬
tributed profits under the Revenue Act of 1936.
Financial
938
Weekly OutputWeek Ended—
Electric output of system
—V. 143, p. 775.
Aug. 1, '36 July 25, '36 Aug. 3, '35
(kwh.).
82,279,226
83,336,155
Corp.—New President, &c.—
Henry T.
President, has been elected Chairman of the Board.
—V. 143, p. 775.
Universal Insurance Co .—Dividends Resumed—
The directors on July 28 resumed dividend payments on the no par
capital stock, by declaring a dividend of 25 cents per share to be paid on
Sept. 1 to holders of record Aug. 15.
They also declared three other
quarterly dividends of like amount, these latter to be paid on Dec. 1,
next, March 1 and June 1, 1937.—V. 139, p. 3008.
•
Universal
The
Pipe & Radiator Co.—-Reorganization Plan—■
plan of reorganization, dated March 20, 1936, of Universal Pipe &
Radiator Co., and Central Foundry Co. (which, as reorganized, is to be
the new company mentioned in the plan), was changed and modified by the
amendment dated July 9, 1936, and, as so
on
amended, was finally confirmed
July 29, 1936, by the U. S. District Court for the Southern District of
New York.
Under the plan, as amended, holders of 10-year 6% debenture bonds of
Universal, Universal bank indebtedness, Universal miscellaneous indebted¬
and Universal preferred stock, in addition to receiving new common
stock (of the new company) in accordance with the provisions of the plan,
are entitled to purchase new bonds (of the new company) and new common
stock, in units consisting of $300 of new bonds and 30 shares of accompany¬
ing new common stock, up to but not beyond 3:00 o'clock p. m. (Eastern
Daylight Saving Time) on Aug. 18, 1936, as follows:
(1) Holders of Universal debentures—in respect to each entire $1,000 of
Universal debentures held by them respectively, $300 of new bonds and 30
ness
shares of new
common stock for $295.50.
(2) Holders of Universal bank indebtedness and Universal miscellaneous
indebtedness—in respect to each entire $1,000 of Universal bank indebted¬
ness and Universal miscellaneous indebtedness held by them respectively,
and approved and allowed, $300 of new bonds and 30 shares of new common
-stock for $295.50.
(3) Holders of Universal preferred stock—in respect to each entire 20
shares of Universal preferred stock held by them respectively, $300 of new
bonds and 30 shares of new common stock for $295.50.
Under the plan, as amended, holders of Universal common stock, in
addition to receiving new common stock in accordance with the provisions
of the plan, are entitled to purchase new bonds and new common stock
(subject to the concurrent and prior purchase rights thereon of the holders
Universal debentures,
Universal bank indebtedness and Universal
miscellaneous indebtedness and subject, also, to allotment), up to but not
beyond 3:00 o'clock p. m. (Eastern Daylight Saving Time) on Aug. 18,
of
1936, as follows:
(4) Holders of Universal common stock—such part of $628,100 of new
bonds and 62,810 shares of new common stock (but not exceeding, in any
event, $100 or new bonds and 10 shares of new common stock in respect to
each entire 80 shares of Universal common stock held
as shall not be purchased by the holders of Universal
by them respectively)
debentures, Universal
bank indebtedness and Universal miscellaneous indebtedness in the exercise
of their rights. In the event that the part of such $628,100 of new bonds and
62,810 shares of
of Universal
have subscribed, the new company shall be
entitled to allot the available part of such new bonds and new common
stock, in units of a new bond in the principal amount of $100 and 10 shares of
accompanying new common stock, in such manner that subscriptions shall
be filled in the inverse order of their size (including, also, like amounts of
larger subscriptions), and, in the event that the smaller subscriptions
shall be so numerous as to make impracticable the allotment in respect to
each subscription (including the larger subscriptions) of a new bond in the
principal amount of $100 and 10 shares of accompanying new common
stock, allotment may be made by the new company in such manner and in
such amounts as the new company shall, in its unrestricted discretion,
determine.
At 3:00 o'clock p. m. (Eastern Daylight Saving Time) on Aug. 18, 1936,
all purchase rights (and all fractional warrants for purchase rights) will
become forthwith null and void, and all creditors and stockholders who
have not, on or before said date, availed themselves of their respective
purchase rights, will be irrevocably foreclosed therefrom.
,
Holders of Universal debentures, Universal bank indebtedness
and
Universal miscellaneous indebtedness in amounts of $1,000 or multiples
thereof, and holders of Universal preferred stock in amounts of 20 shares or
multiples thereof, may exercise their respective rights (and holders of
Universal Common stock, in amounts of 80 shares or multiples thereof, may
exercise their respective concurrent but subordinate rights) to purchase new
bonds and new common stock at any time up to but not beyond 3:00
o'clock p. m. (Eastern Daylight Saving Time) on Aug. 18, 1936, upon:
(a) Deposit, as the case may be, of their respective debentures or of the
certificates, duly endorsed in blank, representing their respective shares of
stock with Contmental Bank & Trust Co., 30 Broad St., New York, N. Y.—
in the case of holders of Universal debentures, Universal preferred stock and
Universal common stock; and,
(b) Delivery of their respective agreements in writing to make such
purchase to said Continental Bank & Trust Co.—subject to allotment,
in the case of holders of Universal common stock; and
(c) Payment of the purchase price of such new bonds and new common
stock to Continental Bank & Trust Co., for account of Central Foundry Co.
Holders of Universal debentures that shall not be in multiples of $1,000,
holders of Universal preferred stock that shall not be in multiples of 20
shares., and holders of Universal common stock that shall not be in multiples
of 80 shares may deposit their respective debentures representing principal
amounts of less than $1,000 or their certificates, duly endorsed in blank, for
less than 20 shares of Universal preferred stock and less than 80 shares of
Universal common stock, as the case may be, with Continental Bank &
Trust Co., and receive transferable fractional warrants, for purchase
rights in respect of such deposits that shall become void on Aug. 18, 1936,
unless:
(I) On or prior thereto surrendered to Continental Bank & Trust Co.;
together with other fractional warrants in amounts sufficient, in each
case to entitle the holder to exercise, in the case of fractional warrants
issued in respect to Universal debentures and Universal preferred stock, the
right to purchase one or more full units (each consisting of $300 of new bonds
and 30 snares of new common stock), and, in the case of fractional warrants
issued in respect to Universal common stock, the right to purchase one or
more full units (each consisting of $100 of new bonds and 10 shares of new
common stock); and
(II) Accompanied, in each case, by the agreement in writing of the
subscriber to purchase the number of full units called for by the fractional
warrants surrendered—subject to allotment, in the case of fractional war¬
rants issued in respect to Universal common stock; and
(III) Accompanied, in each case, by payment of the purchase price of
bonds and new common stock subscribed for.
The new bonds and new common stock offered for purchase to the creditors
and stockholders of Universal have been underwritten.
The new company is to make application for the listing of the nenf bonds
new
and the
new
common
stock
the New York Stock Exchange.
on
The board of directors of the
as
follows:
(1) Universal debentures (June 1, 1935, and subsequently ma¬
turing interest coupons attached), held by Essex
202,000
Universal debenture unpaid interest coupons due June 1,
1935, held by Essex
6,060
(2) Universal 7% cum. pref. stock (pledged as collateral security
with
Kings County Trust Co. for Central Foundry
indebtedness)
5,090 shs.
(3) Universal 7% cum. pref. stock ($100 par) (treasury stock)1,382 shs.
new company is to be initially constituted
Auguste J. Cordier, George A. Harder, Mozart Monae-Lesser,
David Ford, Robert L. Hamill, John MacGowan and Frederick J. Young.
The plan, dated March 20, 1936, outlined the claims
be dealt with under the plan as follows:
(1)
and interests to
Universal Claims
Claims and Interests that Are to Participate in the Plan
(1) Universal secured notes
Accrued interest to Aug. 27, 1935(2) Universal debentures (June 1, 1935, and subsequently ma¬
turing interest coupons attached), held by public
Universal debenture unpaid interest coupons due June 1,
1935, held by public
Universal debenture unpaid interest coupons due Dec. 1,
1934, and theretofore..(3) Universal bank indebtedness (unsecured)
__
___
_
Accrued Interest to June 1,
1935
(4) Miscellaneous indebtedness of Universal (unsecured)
$77,784
-350
1,602,420
5,090 shares pledged as
Co. for Central Foundry
Exclusive of 1,382 shares treasury stock and
a
collateral
Kings
security with
County Trust
indebtedness.
(2)
Central Foundry
'
Claims and Interests that Are to Participate in the Plan
(1) Central Foundry bonds held by public--- —
—
$653,200
Interest accrued and unpaid to Aug. 27, 1935
7,499
(2) Central Foundry bank indebtedness (partly secured)
120,000
Accrued interest to Aug. 27, 1935--15,210
(3) Central Foundry bank indebtedness (unsecured)
400,000
Accrued interest to Aug. 27, 1935—
52,532
(4) Trade and miscellaneous indebtedness of Central Foundry
(excluding indebtedness to affiliated companies)
260,430
(5) Central Foundry 8% cum. pref. stock ($100 par) —
xl35 shs.
(6) Central Foundry ordinary pref. stock ($100 par)
xl755.2110 shs.
(7) Central Foundry common stock ($100 par) —
xl51.1402 shs.
Claims and Interests that Are to Be
Under the Plan
Canceled or Eliminated
„
(1) Central Foundry bonds, held by.affiliated companies——
$178,900
Interest accrued and unpaid to Aug. 27, 1935
—
789
(2) Indebtedness of Central Foundry to affiliated cos. (secured)
125,573
(3) Indebtedness of Central Foundry to affiliated cos. (unsecured)
123,079
x The number of shares represents only that part of the presently out¬
standing stock of Central Foundry not owned by Universal or Iron Products.
New Company—Central Foundry, as reorganized, will be the corporation
in which the properties and assets to be included in the reorganization shall
be vested, and which shall issue the new securities provided for in the plan.
The name of the new Company will be the Central Foundry Co.
The plan contemplates the transfer to the new company by Universal,
Iron Products, Essex, Metropolitan, Travatex, Molby, Central Radiator
and Fruin & "Walker of all their properties and assets by sale, merger, disso¬
lution
or
otherwise.
Capitalization of New Company
To Be Issued
stock
common
$1,000,000
$1,000,000
653,200
9,000 shs.
850,000 shs.
General mortgage bonds
New preferred stock.
New
Under Plan
Authorized
-
New bonds-
653,200
8,460 shs.
*452,727 shs.
*
This does not include 47,353 shares available under the plan for divi¬
on the new preferred stock, for holders of scrip issued in the Central
Foundry reorganization of 1911, for holders of minority stock of Essex and
Iron Products and for general corporate purposes.
dends
Distribution of Securities upon Consummation of Plan (Before Amendments)
■Will Receive-
stock available for purchase by the holders
stock shall be insufficient to satisfy in full the amounts
for which such holders shall
the
Claims and Interests that Ate to Be Canceled or Eliminated Under
the Plan
■
new common
common
al9,632 shs
-488,287 shs
(5) Universal 7% cum. pref. stock ($100 par) outstanding
(6) Universal common stock ($1 par) outstanding—_
75,542,648
El wood White has been elected President of the corporation.
many years
Aug. 8, 1936
.
United States Radiator
Cole, for
Chronicle
New
Universal secured notes
-Universal debt.
Gen. Mlge.
New
Bonds
Existing Securities—
Bonds
Pref. Shs.
187",201
Universal
7% pref. stock
Universal
common
49,082
24,414
45,724
stock
$653,200
Central Foundry bonds
Central Foundry debt—
Central Fdy. ,8% pref—
_
8,460
"""405
Central Fdy. ord. pref—
Central Fdy. common..
Purchasers of
new
3,510
151
bonds
92,240
922,400
Underwriters.
50,000
Total
In
New
Com. Shs.
$77,600
-
—
$1,000,000
$653,200
8,460
x452,727
common shares are reserved for following purposes: For
bonds (initially), 200,000 shs.; for conversion of gen. mtge.
bonds, 65,320 shs.; for conversion of new pref. stock, 84,600 shs.; available
for dividends on the new preferred stock, for holders of scrip issued in the
Central Foundry reorganization of 1911*, for holders of minority stock of
Essex and Iron Products, and for generar corporate purposes, 47,353 shs.
Note—Payment in cash is to be made of parts of Universal secured notes
x
addition,
conversion of new
in amounts of less than $100, of Universal debt or parts of debt in amounts
less than $10, of Central Foundry debt or parts of debt in amounts less than
$100, and of accrued and unpaid interest on Universal secured notes and
Central Foundry bonds.
Underwriters—It is contemplated that Emanuel & Co. and F. J. Young &
Co., Inc., will be the underwriters.
Pro Forma Consolidated Balance Sheet at Dec. 31,1935
[Central Foundry Co. and Subsidiary]
Assets—
Liabilities—
.
Cash in banks and
on
hand—
Acc'ts and notes receivable-
Inventories.
:
Special deposit for matured
Interest unpaid—
Fixed assets
Patents and goodwillInvestments and advances—
Deferred charges.
$707,902
374,791
882,111
Accounts
payable.
Accrued salaries and wages.
Accrued taxes
Other accrued liabilities
1,740 Matured interest unpaid-..
2,687,133 Funded debt
1
Minority interests
:
49,488 5% cum. preferred stock...
216,510 Common stock (par 51)—
Capital surplus
Total——..
Total
$4,919,678
Securities To Be Suspended—The New York Stock Exchange announced
Aug. 4 that trading in the shares and debentures of the company would be
suspended before tne opening of business on Aug. 13.
Suspension, the notice said, was "on account of mechanical difficulties
in connection with carrying out of the plan of reorganization" under Section
77-B of the Bankruptcy Act.
In a letter to the governing committee on
stock list, it was pointed out that under the plan the old securities are to
be surrendered, with or without subscriptions to new bonds, and a window
ticket will be issued in lieu of them, this ticket to remain outstanding until
the new securities are issued later.
........
$4,919,678
$125,599
20,176
7,355
24,782
1,740
1,653,200
15,390
846,000
452,727
1,772,706
—
''This contemplates a
constantly diminishing amount of outstanding
listed securities until Aug- 18, an<jl in the event of complete success of the
plan by that date, there would be none of the old securities left outstanding
to serve as a basis for a market.
The amount of new common stock to be
received as a bonus by holders of the old common stock subscribing to bonds
is indeterminate."—V". 143, p. 128.
Utah Metal & Tunnel Co.— To Vote
on
Lease—
Special meeting of stockholders is to be held on Aug. 10 to act on a lease
of the property to United States Smelting, Refining & Mining Co.
President Prince of Utah Metal in circular to stockholders says:
"lour directors have authorized the execution of a lease agreement with
United States Smelting, Refining & Mining Co., covering all of the property
now owned or leased
by the company in the State of Utah, subject to its
other outstanding contracts and agreements.
You have been advised of
the cancellation of the American Smelting & Refining Co. lease on the
lower levels of the property.
Our lease to A. E. Kipps of a part of the
upper levels expires, unless sooner terminated, Nov. 12, 1936, after which
this area will be included in the lease to United States Smelting, Refining
&
Mining Go.
"The new lease with United States Smelting, Refining & Mining Co. is
for a period of 20 years and provides for a 50-50 division of net profits
after deduction of all costs.
48,073
2,225
180,000
20,070
19,224
"Your directors unanimously recommend your favorable action in rati¬
fying their action in entering into this lease. They believe that United
States Smelting, Refining & Mining Co., which has successfully operated
the adjoining
property for over 30 years, is well equipped ;by experience,
in personnel, and in every other way to properly carry on the work of explo¬
ration, development and mining in your property."—V. 141, p. 2449.
Financial
Volume 143
Utica Knitting
accumulations
Gets Army Contract—
Co.—Accumulated Dividend—
The directors have declared
of
dividend of S3.50 per share on
a
7% cum. preferred stock, par $100, payable
Sept. 1 to holders of record Aug. 21.
A dividend of $1.75 per share was
paid on June 1, last; $3.50 on March 2, last: $1.75 paid on Dec. 2, 1935,
$3.50 paid on July 1 and March 18, 1935; $1.75
paid on Sept. 1, 1934;
$7 on March 1, 1934 and $1 per share on March 1, 1932.
The last regular
quar. dividend of $1.75 per share was apidon July 1,1930.—V. 142, p. 3192.
Veeder-Root, Inc.—$1 Extra Dividend—
The directors have declared
an
extra dividend of $1 per
The War
account
the
on
939
Chronicle
share in addition
quarterly dividend of 50 cents per share on the common stock,
value, both payable Sept. 15 to holders of record Sept. 1.
A similar
extra was paid on June 1, last while an extra dividend of $2 per share was
paid on Nov. 30, 1935, and an extra of 50 cents was distributed, on Dec. 29,
1934.—V. 142, p. 3532.
to the regular
Department has awarded
bombers.—V. 142, p. 3367.
army
Yale Short Line RR.—Abandonment—
The Interstate Commerce Commission on July 23 issued a certificate
permitting abandonment by the company, as to interstate and foreign
commerce, of its entire line of railroad extending from Casey to Yale,
approximately 12.5 miles, all in Clark, Cumberland, and Jasper counties,
111.—V.
000,
0000.
p.
fr
no par
Vick Chemical Co.—New Name—
The stockholders of Vick Chemical Inc.
on
~
July 31 voted to change
the
of certificates
for 700,280 shares of capital stock (par $5), bearing the name Vick Chemical
on official notice of issuance in substitution for outstanding certificates
Co.
for
like number of shares bearing the name Vick Chemical,
a
Usual Extra Dividend-—
The directors have declared
to
an
New York and
Inc.
which
will
have
share in
Chemical, Inc.—Name Changed—
p.
a
number of years
March
April
May
—
June
July
4,667,260
4,742,052
4,457,291
4,440,282
5,032.075
5.339,695
_
1933
$3,664,964
New York in 1924,
(& Subs.)—Earnings-
6 Months Ended June 30—
Interest
x
on
mortgage bonds of subs.
5,789
$289,804
2,731
7,905
$660,638
18,081
9,534
167,915
196,920
268,445
222,397
4,101
_
a
with investment banking and
York offices of the firm
Coupon interest on mortgage bonds
Exchange.
member of the New York Stock
National
connected
corporations in Detroit. The New
former head of the
industrial
located at 40 Wall St. and the
are
Detroit offices
in the Ford building.
In connection with the formation of the
will
268,618
221,770
$455,263
head of the former Stock Exchange
Mr. Potts is
see
it
make
stock
as
firm, Mr. Hall made the follow-
the coming months
Outmoded equip¬
"It is the judgment of our partners that
considerable revival in new capital financing.
a
necessary.
well
for new products
the form of common
industrial plants and a widening demand
ment in many
1934
1935
1936
Profit before interest & depreciation
Interest on notes and drafts
Since
many large
Register Co. and Chalmers Motor Car Co., and has been
Cash
will
Walworth Co.
was
of the
consultant in such
firm of Naum-
and has frequently been called in as a
Mr. Dixon
ng statement:
—V. 143, p. 288.
Nicol-Ford
Mr. Hall began his business
been identified with
he has
Mr. Chalmers is the son of Hugh Chalmers,
4,248.372
3,412,705
3,452.181
3,643,478
3,982,685
4,179,750
Detroit, was for
house of Stacy & Brown.
in Toledo with the municipal bond
career
burg & Dixon.
1934
$4,303,469
4,079,749
4,618,455
4,211,153
4,356,431
1935
$4,698,604
4,637,407
5,074,651
Jr.
and more recently was head
investment house of Weed, Herbst, Eckert Co.
matters.
4,621,245
4,641,147
1936
$4,744,590
5,059,467
5,105.705
4,964,907
5.155,697
Stock Exchange for its
F. Weed, Matthew J. Hall,
Manager of the Investment Department of
& Co., investment bankers of Detroit,
under writings
3874.
Walgreen Co. (& Subs.)—Sales—
Month of—
January
February
the New York
membership in
Mr., Weed, who is the Senior Partner and resident in
extra dividend of 10 cents per
142,
of men who have been
activities in the Michigan,
The new firm,
Arthur W. Dixon, W. B. Potts Jr. and Hugh Chalmers
the regular
See Vick Chemical Co. above.—V.
a group
commission business, is composed of William
coming to
Vick
firpi under the firm name of
Detroit investment
for many years closely identified with financial
.
quarterly dividend of 50 cents per share on the
capital stock, par $5, both payable Sept. 1 to holders of record Aug. 15.
Similar payments were made in each of the 11 preceding quarters.—V. 142,
p. 3874.
addition
—A
Northern Ohio and and New York investment markets.
The New York Stock Exchange has authorized the listing
►
NOTICES
CURRENT
Weed, Hall & Co., has been organized by
1
from Vick Chemical Inc. to Vick Chemical Co.
name
contract for 150 Wright Cyclone
a
aircraft engines valued at $1,327,190, to this company.
The engines are
rated at 1,000 horsepower and will be placed in the new high-speed Douglas
Such financing will take
will have a trmendous
small and
growth during
of years associated
with National
As we see it, many
bonds and preferred stock.
as
moderate sized industrial corporations
the next decade."
and debentures of Walworth Co
Depreciation taken on plant & equip.
—Edward H. Robinson, for a number
with Chase Securities Corp., Chase
and The Chase National Bank, has assumed the
City Co., and for the past eight years
*
Net profit...
$80,537 loss$211,674
$142,633
7,875
7,875
$219,549
pf$134,758
Harris
Forbes
Corp.,
Provision for Walworth Alabama Co.
accrued unpaid pref.
dividend
the New York office of
of
management
Schwabacher & Co., members
maintains
Hollywood,
New York Stock Exchange.
x
>,537
Accrued but not paid.
Obituary—
_
The company has
■
advised the New York Stock Exchange of the death of
447.
Vernon C. Stewart, a director of the company.—V. 143, p.
Warner-Quinlan
77-B of the Bankruptcy
Act, have been continued in possession by Federal Judge Hulbert in Federal
District Court, New York in the absence of any definite plan of reorganiza¬
tion.
The Court said substantial savings had been accomplished by the
The hearing was then adjourned until Sept. 16, when it is hoped
trustees.
a
reorganization plan will be presented.
The Court intimated that if a plan
by that time, liquidation proceedings may ensue.—V. 143,
is not presented
p.
129.
-
.
Angeles, Oakland, Santa Barbara,
Jose.
Mr.
Robinson held the post of
Co.—Admitted to Listing & Registration
to listing
admitted the common stock, par $5,
he became
Later
—Granberry & Co. members of New
leading exchanges announce that
with them in their New
and later
a
Maryland Ry.—Earnings-—
Fourth Week
Jan. 1 to July 31
$366,843
;
1935
1936
1935
$419,281
$9,150,933
$8,490,947
1936—12 Mos.—1935
$2,118,380
1,094,750
114,724
185,799
'
345,838
$2,008,210
1,051,600
Balance
$41,772
$21,209
Appropriations for retirement reserve ....
Preferred dividend requirements
$377,267
219,750
119,452
$306,599
207,500
$38,064
def$20,351
Gross earnings
Operation.
Maintenance
Taxes
Interest & amortiz
106,699
187,634
355,675
119,451
778.
with municipal and corporate
son
new
paid a dividend of 75 cents per share oh the common
stock, on July 31 to holders of record July 16.
This compares with 62
cents paid on April 30, last; 63 cents on Jan. 31 last; 75 cents on Oct. 31,
company
1935; 62 cents on
July 31, 1935; 75 cents on April 30, 1935; 63 cents on
31, 1935; $1 per share paid on Oct. 31, 1934; 75 cents on July 31, 1934;
62 cents on April 30, 1934; 63 cents on Jan. 31, 1934; 75 cents on Oct. 31
and July 31, 1933; 62 cents on April 29, 1933 and 63 cents per share paid
on Jan. 31, 1933.—V. 139, p. 3338,
•
—
Jan.
Wisconsin
Michigan Power Co.—Bonds Called—
All of the outstanding 1st and ref. mtge. gold bonds,
series due
1957, have been called for redemption on Sept. 1 at 103 M and interest.
All of the outstanding 1st mtge. gold bonds, 4H %, series due 1961, have
been called for. redemption on Sept. 1 at 105H and interest.
Payment on both of the above issues will be made at the Bankers Trust
Co., New York City.—V. 143,
Wolverine
Tube
common
779.
an
Dividend—
extra dividend
of 60 cents
of normal tax, surtax,
& Co. announce that Fred C. St.
sociated with them as
formerly with the
chants
share
on
stock, payable Aug. 10 to holders of record Aug. 5.
A aiviwas paid on July 1, last, this latter bring the
1, 1932 wnen five cents per share was dis¬
dend of 30 cents per share
first payment made since Oct.
tributed.—V. 142, p. 4361.
Month
January
February
of—
-
March
April
May__
June
July.
—V. 143, p. 290.
Period End. June 30—
"
x
1936—3 Mos.- -1935
counsel, announce the election
firm. For the past six
associated with General American Investors
Co., and previous to that was with Investment Research Corp. in Detroit.
—Distributors Group, Inc., 63 Wall St., New York City, has available
for distribution to dealers, upon request, a comprehensive analysis of the
New England Gas & Electric Assn., $5.50 Preferred stock.
Towne, Inc., investment
—Van Strum &
Adams as Vice-President of the
of Lawrence A.
years
Mr. Adams has been
—Homer
Co., Inc., 40 Exchange Place,
&
—E.
of excess reserves on long term
J. Coulon &
good industries
transact
a
issued for dis¬
an analysis of the durable
and its relation to general recovery.
formerly a partner in the firm of Lionel Cassel
x$343,570
$130,419
x$613,589
$60,608
undistributed income.
& Co., dis¬
1936, announces the formation of Leo Gold & Co. to
general over-the-counter business.
—Reynolds & Co. announce the opening
Putnam Ave.,
of
a
branch office at 45 East
Greenwich, Conn., with C. H. Babcock as Resident Partner
M. Brennan as Manager.
and Stephen
—John Ohlandt,
formerly with Hoit, Rose & Troster, has become as¬
sociated with J. Arthur Warner &
in water company
in the First
1936—6 Mos.—1935
and
bond prices.
Co., 50 Broadway, New York, have
monthly stock digest, as well as
tribution their
New York, has issued its
reviewing the trend of high grade railroad bonds
Co., where he will continue to specialize
bonds.-
branch office
National Bank building, Atlanta, Ga., under the management
of H. Grady
Black.
—J. B. Hanauer & Co.,
Before provision for possible Federal surtax on
The analysis
capital expenditures,
since 1923 of 12 representative railroad equipment
—Equitable Securities Corp. announces the opening of a
Wright Aeronautical Corp.- -Earnings—
Net profit after deprec.,
interest and taxes—-, ;
earnings
solved as of July 31,
1936
1935
1934
1933
$16,983,089 $17,147,967 $18,137,412 $15,844,684
19,015.779
18,218,915
17,860,960
16.244.993
19,676,695
20,482,640
24,035,139
17.509,833
23,072,478
22,382,040
19,788,230
20,159,295
22,621,875
21,052,337
22,004,068
19,801 192
23.397,703
21,113,892
22.000,467
19,344.065
22,860,526
20,168,737
19,514,723
19,582,844
York City, have prepared an analysis
companies.
—Leo Gold,
(F. W.) Woolworth Co.—Sales—
& Mer¬
relation between car-loadings and
the normal
and lists the
Pittsburgh for 12
has been with the Farmers
affecting the purchase of railroad equipment.
of the factors
shows
Clair has become as¬
Mr. St. Clair was
their Pittsburgh representative.
National City Co. of New York in
and for the past three years
Bank of Linesville, Pa.
the effect
per
Federal
Act, and presents
gift and estate taxes, "payroll" taxes,
corporation normal tax and surtaxes.
bi-monthly bulletin,
Co.—Extra
-.The directors have declared
the
p.
The pamphlet covers
Act of 1936 and the Social Security
in the Revenue
schedules
compiled a new pamphlet
Changes in Federal Taxes."
of Important
taxes
Ranson-Davidentitled "Digest
Federal income tax laws, the
Co., of Wichita, Kan., has
—Mackay& Co., 14 Wall St., New
Weymouth Light & Power Co,—-Larger Dividend Paid—
•
municipal
this city. Mr.
financing for
the past 15 years and is a director of the Wilsonite Corp., Lanatin Corp.
and Baldwin-Dynes Corp., and is a member of the New York Chamber
years,
Balance for common divs. & surplus.
The
of Newkirk & Co., Inc.,
underwritings, with offices at 71 Broadway,
—F. S. Moseley
p.
Co.
Newkirk Jr. as President, to specialize in
—With the revision of the
(& Subs.)—Earnings—
1936—Month- —1935
$160,003
$188,124
83,423
92,864
11,730
9,772
14,883
14,827
28,757
28,887
Per. End. June 30—
143,
He was also at one
officer and director
Sons.
Board of Superior Oil Co., and an
is made of the formation
—Announcement
other
of Commerce.
Western Public Service Co.
-V.
York Stock Exchange and
George A. Evalenko is now associated
Mr. Evalenko was formerly a partner
York office.
Newkirk has been identified
of July
1936
Period—
Gross earnings (est.)
—V. 143, p. 778.
its Bond Department.
Vice-President of Harvey Fisk &
•time Chairman of the
and corporate
Western
More recently he has been as¬
charge of sales for the downtown office.
sociated with The Chase National Bank in
headed by Louis H.
and registration.—V. 143, p. 777.
National City
Chase Securities Corp. at its head office.
Assistant Vice-President of Chase-Harris Forbes Corp.
of the Ground Gripper Shoe
Wentworth Mfg.
The New York Curb Exchange has
syndicate manager of the
Co., and was sales manager for the
in
Co.—Hearing Adjourned—
The trustees of this company now under section
This California investment firm also
offices in San Francisco, Los
Del Monte, Fresno and San
Consolidated net loss
the current issue
Bond Market."
786 Broad St., Newark, N. J., are distributing
of their monthly publication "The New Jersey Municipal
Financial
940
Chronicle
Aug. 8,
The Commercial Markets and the
1936
Crops
COTTON—SUGAR—COFFEE—GRAIN—PROVISIONS
PETROLEUM—RUBBER—HIDES—METALS—DRY GOODS—WOOL—ETC.
down.
COMMERCIAL EPITOME
quiet and without special feature.
realizing sales by commission houses, but
these offerings appeared to be well taken.
The market had
a steady undertone.
Warehouse stocks decreased 604 bags,
and now total 702,679 bags.
Local closing:
Sept., 6.14;
Dec., 6.25; Jan., 6.28; Mar., 6.36; May, 644; July, 6.52.
Trading
There
:
Friday Night, Aug. 7,1936.
Coffee—On the 3rd inst. futures closed 4 to 17 points
higher, with sales of 46,500 bags.
New Rio contracts closed
at 21 to 25 points up, with sales of 22,500 bags.
Old Rio
contracts closed 4 to 7 points up, with sales of 9,250 bags.
Cost' and freight offers from Brazil were unchanged to
15 points higher, with Santos Bourbon 4s at from 9.20 to
9.60c.
Rio de Janeiro futures were 100 to 125 reis higher,,
while the spot No. 7 price touched a new high at 14.700
milreis per 10 kilos, up 200 reis.
Havre futures were 1 to
1% francs higher.
On the 4th inst. futures closed 8 to 10
points lower for Santos contracts, with sales of 36,250 bags.
Old Rio contracts closed 8 to 14 points lower, with sales
of 7,500 bags.
New Rio contracts closed 8 to 9 points lower,
with sales of 15,250 bags.
Rio de Janeiro futures were
unchanged to 25 reis lower, while the No. 7 price was 100 reis
higher at 14.800 milreis per 10 kilos.
Cost and freight
offers from Brazil were about unchanged.
Havre futures
were active, and showed gains of
1 34 to 1 *4 francs.
On
the 5th inst. futures closed 2 to 4 points down for Santos
contracts.
Sales totaled 25,250 bags.
Old Rio contracts
closed 6 to 11 points down, with sales of 4,500 bags.
New
Rio contracts closed 6 to 9 points lower, with sales of 12,250
bags.
Rio de Janeiro futures were 25 to 75 reis higher.
Cost and freight offers from Brazil were little changed, with
Santos Bourbon 4s at from 9.15 to 9.40c.
One shipper,
however, who advanced prices 15 points on Tuesday,
reduced them 10 points.
Havre futures were 1 franc lower,
with trading quite active.
On the 6th inst. futures closed 6 to 7 points lower for the
Santos contract, with sales of 18,750 bags.
Old Rio contract
closed 1 to 4 points lower, with sales of 7,250 bags.
New Rio
contracts closed 12 to 14 points lower, with sales of 10,250
bags. Rio de Janeiro futures were 100 reis lower. Cost and
freight offers from Brazil continued to rule steady despite
the declines in futures.
Santos Bourbon 4s were generally at
from 9.25 to 9.40c., with shipments up to the new year
offered at the inside price.
Havre futures were 34 to 1
franc lower.
Today futures closed 7 to 10 points up for the
Santos contract, with sales of 92 contracts.
Old Rio con¬
tracts closed 12 to 15 points up, with sales of 12 contracts.
New Rio contracts closed 6 points up, with sales of 55 con¬
tracts.
Rio de Janeiro futures were unchanged to 25 reis
higher, while the exchange rate in the open market was
unchanged.
Cost and freight offers were about unchanged,
.
l
.%
:
with Santos Bourbon 4s at 9.25 to 9.45
zales
c.
Colombian Mani-
reported offered at 1134c., but roasters showed
little interest.
Havre futures were 34 franc lower to 34 franc
higher.
were
Rio coffee prices
September
December.-
closed
as follows:
-4.921 March——
5.021
_■—5.02
May
July.-,.,..
-
.9.151 September.
.9.17
—__
— _
December
.
——
9.00
-.9.12
9.19]
Cocoa—On the 3d inst. futures closed unchanged to 1
point higher.
Scattered trade and commission house buying
was
enough to more than offset the tired long liquidation.
Manufacturers were still reported holding aloof from the
market.
London was closed because of the holiday. Volume
of sales on the local Cocoa Exchange totaled 97 lots, or
1,300 tons.
Local closing: Sept., 6.15; Dec., 6.25; Jan.,
6.29; Mar., 6.37; May, 6.46; July, 6.53.
On the 4th inst.
futures closed 3 to 5 points down.
Trading was quiet during
most of the session, but in the closing hour considerable
selling developed, influenced apparently by the violent
declines in the grain markets, and as a result prices closed
at about the lows of the day.
London was strong.
New
York warehouse stocks declined 2,115 bags, bringing the
the total down to new low levels for the past three and a half
years.
The volume of trading on the local Exchange totaled
185 lots, or 2,479 tons.
Local closing: Sept., 6.12; Dec.,
6.22; Jan., 6.25; Mar., 6.33; May, 6.41; July, 6.49. On
the 5th inst. futures closed unchanged to 2
points down.
Sales totaled 112 lots, or 1,501 tons.
It was reported that
while manufacturers were out of the actual market,
they were
buying new crop Board cocoa.
N. Y. warehouse stocks
continued to seek new low levels for the past three and onehalf years, as a decrease of 1,196 bags
brought the total
down to 702,597 bags.
Local closing: Sept., 6.10; Oct.,
6.12; Dec., 6.21; Jan., 6.24; May, 6.41:
On the 6th inst. futures closed 3 to 4 points up.
There
was
little or no activity on the part of the Wall Street
element, and apparently no action on the part of manu¬
facturers, the actual market being reported dull. New York
warehouse stocks increased 776 bags to a total of 703,373
bags. Transactions in futures totaled 128 lots, or 1,715 tons.
Local closing:
Sept., 6.14; Dec., 6.25; Jan., 6.28; Mar.,
6.36; May, 6.45. Today futures closed unchanged to 1 point -
was very
some
Sugar—On the 3rd inst. futures closed 3 points lower to
unchanged.
Sales were 2,400 tons.
September closed at
2.72c., off 2 points.
In the market for raws buyers and
sellers were 5 points apart at 3.65-3.70c.
Offers at 3.70c.
included a couple of lots of Puerto Ricos and one cargo of
Cubas, which was offered at the equivalent price of 2.80c.
price before payment of duty.
Philippines were held at
3.85c.
There was nothing of interest in the news.
London
was closed for the usual August bank
holiday.
On the 4th
inst. futures closed unchanged to 1 point higher.
Sales
were 7,650 tons.
In the market for raws there was little
or
no
change.
Offers at 3.70c. included 15,000 bags of
"Puerto Ricos, August shipment, and two cargoes August
and September.
Other Puerto Ricos were 3.75c., while
Philippines were offered at 3.85c., but might be available
on a bid of 3.80c.
One cargo of Cubas was offered at 2.80c.
Philippine quota sugars were offered at 3.60c. for NovemberDecember shipment and at 3.55c. for December-January
and January-February shipment.
London futures closed
unchanged to 34<1- higher, while raws were reported quiet
and offered at 4s. 6d., or about 0.8534c., f.o.b. Cuba.
On the 5th inst. futures closed unchanged to 1 point lower.
Sales were 2,750 tons.
In the market for raws there were
added to the offers at 3.70c., 2,000 tons of Philippines for
September shipment, while one cargo of Puerto Ricos, August
shipment, was reported withdrawn.
Refiners were showing
definite interest in September sugars at 3.65c,, the last sale
price.
Some refiners have set Aug. 14 as the date by which
final specifications on old 4.85c. contracts must be in hand,
naming Aug. 25 for final delivery.
London futures closed
unchanged to 34d. higher, while raw offerings were reported
increasing at 4s. 6d., or about 0.85c., f.o.b. Cuba.
On the 6th inst. futures closed unchanged to 2 points
lower.
Sales were 114 lots, or 5,700 tons.
One block of
2,000 tons of September was done at 2.71c., off 1 point,
and some traders thought the announcement some time
later of the sale of 2,100 tons of
Philippines to Revere of
Boston at 3.67c., indicated that the sale might have been
against this actual sugar.
In the market for raws there
was
very little change.
Offers continued at 3.70c., and
buyers indicated no better than 3.65c.
The AAA report
.
that 3,999,426 tons had been entered
against off-shore quotas
during the first seven months of the year, or 79.2% of the
total,
in line
was
comment.
,
Santos coffee prices closed as follows:
March
were
with trade estimates
London futures closed 34 to
and
caused
little
/4d. higher, with
raws reported still offered at 4s. 6d.
Today futures closed
1 point down to 1
point up.
One block of 8,000 tons of
September was done this morning at 2.71c.
The transaction
was believed to involve a
hedging operation on the reported
sale of an equivalent amount of Cubas to Revere of Boston.
.
In
the market for raws Revere was
reported to have bought
3,000 tons of Cubas, September shipment, at 3.67c. duty
paid, or 2.77c. before duty.
That price was unchanged
from what the
raws was
Prices
were
reported
were as
July-March.
September—
refiner
same
London futures
as
paid for Philippines yesterday.
34d- to 34d. lower, while a parcel of
done at 0.8534c. f.o.b.
follows:
—
_
,
V
:-'v'
—2.45 January
2.43 May2.72
;
;\
-
*„«,
■■
—2.47
—2.43
2.68
N ovember
Lard—On the 1st inst. futures closed 15 to 25 points up.
This pronounced strength was due to
heavy buying, es¬
pecially from the speculative element, influenced by the
violent upswing in the price of corn.
On the bulge con-,
siderable profit taking took place,
but these offerings
appeared to be well absorbed and the market closed with
substantial gains. ■ Prices for the week finished 97 to 100
points higher.
It is figured that farmers will take advantage
of the present
high price for hogs and market some, rather
than pay high prices for corn, which is the
principal feed
for hogs.
Hog prices last week established new high levels
for the season at
Chicago at 11.30.
On the 3rd inst. futures
closed 32 to 40 points higher.
New highs for the season
were established at this
session, due in a large measure to
speculative covering by those who had been persistently
bearish.
grains
The continued violent advances of
corn
and other
the chief influences prompting general buying
of lard.
The bearish
monthly statistics for July were
practically ignored.
There was a break of 15 to 20 points
were
from the top levels, but after the profit taking had subsided
renewed speculative buying appeared, as a result of which
prices rallied and closed at the highs of the day.
Hogs
were steady at
Chicago, and the price for the day was $11.25,
being only 5c. under the high for the season established'
last week.
Total receipts at the principal western markets
this
Volume
Financial
143
heavy, 71,300 head, against 42,400 for the
were
Chronicle
day
same
16.40; Mar., 16.49; May, 16.58.
Today futures closed 2 to
4 points up.
Sales totaled 37 contracts.
London and
Singapore closed dull with prices unchanged to l-16d. higher,
Local closing: Sept., 16.31; Dec., 16.42; Mar., 16.51; May,
a*year ago.
On the 4th inst. futures closed 17 to 25 points
down.
Values showed a maximum break for this session
of 22 to
35
the
Considerable short
covering took place at this level, and this steadied the
market, prices recovering about 5 to 10 points.
Liverpool
lard futures closed very firm following Monday's advance
in the American markets.
Export clearances of lard from
the Port of New York as reported Tuesday were moderately
heavy and totaled 139,664 pounds for Liverpool and Glasgow,
Hogs were steady and final prices at Chicago were unchanged
to 10c* lower.
Total receipts for the Western run were
points
violent break in
of selling influenced by
on a wave
corn
and other grains.
65,900, against 33,900 for the
same
day last
16.62.
Hides—On the
down.
year.
lower.
The
heavy hog marketings were the chief influence in the break
of lard prices.
The Western movement was again quite
heavy and totaled 59,100 head, against 28,300 for the same
day a year ago.
Final hog prices were unchanged to 10c.
lower at Chicago.
The top price for the day was $11.25,
and the bulk of sales ranged from $8.80 to $11.
Export
clearances
of lard from
totaled
the
Port
of New York
were
very
4,760 pounds to Oslo.
Liverpool lard
futures closed weak following the break in the American
markets on Tuesday, and prices at the close were 6d. lower
on the spot
position and Is. to Is. 3d. lower on the deferred
deliveries.
On the 6th inst. futures closed 13 to 17 points
The continued weakness in lard is attributed largely
heavy receipts of hogs and the reactionary trend in
corn on reports there
may be a cut in the tariff on foreign
corn..
Today futures closed 5 to 8 points down.
The
heaviness of this commodity is due largely to the increased
hog receipts, a natural consequence of the prolonged drought
and soaring prices of feed.
to the
DAILY CLOSING plices
of^lard^FUTURES in^"CHICAGO
12.37
12.15
12.40
12.20
December
12.00
12.05
12.17
12.50
12.30
12.15
11.97
January
12.20
12.52
12.30
12.20
i2.05
11.90
Charters included:
December—
January
Marruhary
March
them occupied with seUing over the next several weeks. It
reported that copper consumption locally is stiU at a
feverish pace, as is indi;cated by wious mdustruilbaromstars.
Thus steel operations are at 72% of capacity, a new ^ak
for the year, according to the Iron Age which compares
,wlth boom periods ending in 1929. If foreign markets
keep getting stronger, it is presumed not at all unlikely that
domestic prices will move up in sympathy.
.•/:
Tin—Dulness has been the outstanding characteristic
of this market, with prices very little changed. The same
can be said of the foreign markets.
A considerable reduction
t^ie Pac^ °f major vegetables wa^predieted. Thus the
1 Probably be underY7,m
24,600,000 last year. A corn pack of L5,000,000 cases or
*n
iooo@
less 1S indicated, as against over 20,000,000 cases last year.
The pack of California fruits is normal.
In the case of
Alask£n salmon the pack is considerably behind that of a
year ago at this time, but may yet overtake 1935; which,
however, was a small year.
Tin afloat to the United States
is 7,205 tons.
Arrivals so far this month have been 394 tons,
an at Atlantic ports.
Warehouse stocks here are the same
9.98@ib"o5
Q Qvtfn
9.97@i0.0ilNovemb«..
9.97® Hboo
m
..
..lo.oo®
.
Petroleum—The summary and tables of prices
....
formerly
here regarding petroleum will be found on an
page in our department of "Business Indications,"
appearing
earlier
in
J'
Is
9.7c.
9.92@
[August;
9.9i@ 9.95 September
delivery;
Copper—Business has been relatively light.
However,
the foreign market has been quite active, with the going
range of prices 9.473^ to 9.50c. per pound, c.i.f., European
ports, and with sales as high as 9.51 ^c. per pound reported,
In view of the record-breaking domestic sales in July,
American producers look toward their export field to keep
including switches, 99 contracts.
Prices closed as follows ;
_
10 loads Albany-Rotterdam, second
Coal—After a period of rather dull business during the
last, month the view is held by many in the coal trade here
that the month of August should be better. Already orders
for delivery this month reveal that .the volume should go
ahead of July. It was reported that many of the retail
dealers are receiving a great many inquiries for coal. The
Price list on the New York anthracite remains the same,
with the demand showing slightly better tendencies.
Cottonseed Oil sales,
E„ 8%c.
Grain booked:
,
encouraging.
Quotations: China
wood, tanks, forward, 17.2e. to 17.4c.; drums, spot, 18c.
Cocoanut, Manila, tanks, Coast, 4^c.; spot, 4^c to 4^c.
Corn, crude, tanks, West Mills, 9Me.
Olive, denatured,
spot, Spanish, $1.15 to $1.20.
Soy bean, tanks, mills
8Mc.; C.L. drums, 9.2c. to 9.4c.; L.C.L., 9.7c. to 9.8c
Edible, 76 degrees, 10Mc.
Lard, prime! 12^0.; extra
strained winter, 1134c.
Cod, crude, Newfoundland, nominal; Norwegian yellow, 3534 to 36c.
Turpentine, 42c. to
47?4c.
Rosins, $6.75 to $8.10.
V
Crude S.
17 points
Aug., 10c.
Trips: West Indies, round, $1.15, prompt
Sugar: Cuba-United Kingdom-Continent, 13s. 9d'„ Aug.
Oils—Deliveries of linseed oil continue very
was
to
half
Pork—Mess, $31 per barrel; family, $30, nominal,* per
barrel; fat backs, $21.25 to $25 per barrel.
Beef, quiet,
Mess, nominal; packer, nominal; family, $15^0 $16 per
barrel, nominal; extra India mess, nominal.
Cut meats:
Pickled hams, picnics, loose, c.a.f., 4 to 6 lbs., 1634c.; 6 to
8 lbs., 1534c.; 8 to 10 lbs., 14.c
Skinned, loose, c.a.f., 14
to 16 lbs., 23%c.; 18 to 20 lbs., 2234c.; 22 to 24
lbs., 2034c.
Bellies: clear, f.o.b., New York, 6 to 8 lbs., 22c.; 8 to 10 lbs.,
21 %c; 10 to 12 lbs., 2024c.
Bellies, clear, dry salted, boxed
New York, 14 to 15 lbs.,14J4c; 18 to 20
lbs., 1424c; 20 to
25 lbs., 1434c.
Butter, creamery, firsts to higher than
extra and premium marks,
3634c. to 37c.
Cheese, State,
whole milk, held, 1935, 2134 to 23c.
Eggs, mixed colors,
checks to special packs, 1834c. to 29c.
Rumored inside price for oil
13
Ocean Freights—The freight market continued quiet in
12.00
11.80
11.97
12.05
closed
most lines.
11.75
11.82
11.94
October
futures
<
down.
September
3d inst.
The
prospective Government buying of drought
cattle is having its influence on sentiment.
There was cornparatively little support to the market, while on the other
hand offerings increased and prices seemed to yield rather
easily.
The volume of business was light, totaling 480,000
pounds.
Nothing new was reported in the domestic spot
hide market.
Local closing: Sept.;
11.08; Dec., 11.41;
Mar., 11.70; June, 12.02.
On the 4th inst. futures closed
13 to 16 points down.
The market was heavy during most
0f the session.
Sales totaled 1,640,000 pounds.
Business
in the domestic spot hide market was somewhat improved,
sales totaling 21,000 hides in the Chicago market at unchanged prices.
Trading included 5,000 heavy native
steers at 13c. a pound.
Local cloasing: Sept., 10.92; Dec.,
11.26; Mar., 11.57; June, 11.87.
On the 5th inst. futures
closed 6 points higher.
Transactions totaled 2,920,000
pounds.
Closing: Sept., 10.98; Dec., 11.32; Mar., 11.63;
June, 11.93.
'
^
On the 6th inst. futures closed unchanged to 3 points
higher.
Transactions totaled 1,080,000 lbs.
Sales of 5,000
hides were reported in the Chicago spot market with light
native cows for July take-off selling at 11c., unchanged from
the last sale.
In the Argentine spot market 3,000 frigorifico
extremes were sold at 12c.
Local closing: Sept10.98;
Dec., 11.35; Mar., 11.64; June, 11.94.
Today futures closed
1 to 5 points up.
Transactions were 160,000 lbs.
Certificated stocks totaled 846,084 hides, unchanged.
Local closing: Sept., 11.02; Dec., 11.36.
"
On the 5th inst. futures closed 10 to 20 points
light and
941
the article entitled "Petroleum and Its Products."
Rubber—On the 3d inst. futures closed 1 pt. lower to 4
pts.
higher.
Sales totaled 520 tons. Certificated stocks of
rubber in warehouses licensed
by the Exchange decreased
at 265 tons,
by 110 tons to a total in storage at the close of business
Aug. 3, of 15,670 tons.
The price of spot ribbed smoked
the
Lead—Business this week has been regarded as fairly
satisfactory.
Several producers have so far this week sold
_
sheets in New York remained
unchanged at 16.44.
and
Singapore were closed.
Local closing: Aug., 16.42;
Sept., 16.42; Oct., 16.43; Dec., 16.53; Mar., 16.60.
On the
4th inst. futures closed 8 to 14 points lower.
Sales totaled
1,490 tons.
Pi ices in
pound lower
closed
dull.
the
actual
market
were
l-16c.
per
most descriptions.
London and
Local closing: Aug.,
16.32;
on
Singapore
Sept.,
16.32;
Dec., 16.39; Mar., 16.50; May, 16.58.
On the 5th inst.
closed 4 to 8 points down.
An easing tendency^
prevailed most of the week in this market, with the^
futures
has
actual market l-16c. per pound lower in most
and with futures closing at about the lows
Transactions totaled
SPoo
16.38c.
1,190 tons.
descriptions,
of
the
Tuesday.
day.
The price of spot ribbed
London
and
as against
Singapore closed dull,
declmes. Local closing: Sept.,
lb^4; Dec., 16.35; Mar., 16.44; May, 16.51.
? ! SS1
' futures closed 4 to 7 points higher.
Sales
totaled 540
prAceS
16.31
from
^
tops.
16.25.
Spot ribbed smoked sheets advanced
London
Singapore declined l-32d.
unchanged
to
l-16d.
to
higher;
Local closing: Sept., 16.29; Dec.,
It is estimated that shipments will be over 40,000 tons
monthly throughout the fall.
Producers comment on the
fact that purchasing by the lead-covered cable makers over
the past few weeks has been decidedly better. Some pro¬
ducers are wondering whether a new type of automobile
battery which is supposed to last as long as the car, will
curtail the use of lead in battery form.
However, this item
is still in the experimental stage.
Zinc—Demand for this metal continues to be largely
in
carload lots and for prompt shipment, and it is believed that
ales this week will be no better than the 3,000 tons sold last
sheets m New York declined to 16.25c.,
on
04
equivalent of their production, and it looks as though
the week's sales will compare well with other recent weeks,
Prices are firm at 4.60c. to 4.65c. per pound, New York,
London
,
week.
However, shipments hold up very well, as would be
expected with the steel industry showing a high rate of
activity.
It is thought in certain circles that a rise of $1.
or $2. per ton in the price of slab zinc appears likely within
the near future. Quotations for the metal may advance 5c.
or 10c. a pound, East St. Louis basis, from the current level
of 4.80c.
The domestic statistical position of zinc is the best
among the major metals, according to observers.
Shipments
have been heavy for several weeks. Furthermore, the bright
942
Financial
Chronicle
for steel activity presages continued large con¬
sumption of zinc, since the steel industry is a major user of
outlook
Dec.
1.68%
To-day futures closed lc. up to lc. down.
price of crack double extra siljj in the New York spot
market advanced 3 cents to $1.84%
In Yokohama it was
2 yen lower to 8 yen higher, while in the outside market
grade D silk advanced 223^ yen, to 792 ^ yen a bale.
Local
closing:
Aug. 1.80; Sept. 1.76; Oct. 1.71; Nov. 1.70
Dec. 1.69; Jan. 1.68% Feb. 1.68% March 1.68%
Trans¬
The
the metal.
Steel—The sustained high rate of activity in the steel
industry continues one of the most oustanding features of
the recovery period.
Steel operations for the current week
are estimated at 71.4%, according to the American Iron and
Steel Institute.
This compares with 71.5 for the previous
week and 46.0 for the siame period a year ago.
It is stated
in steel circles that with operations early in August at over
70% of capacity, a rate of virtually 100% of capacity in
October would appear to be a normal sequence.
August is
usually one of the dullest months of the year.
October
usually presents the secondary peak of the year, when in
fact it is not representing the peak itself.
Not in many
years has the demand for steel been so general and well
distributed among consuming lines and districts of manu¬
facture.
Even the backward eastern Pennsylvania district
has become the most active in several years.
With opera¬
tions in the Pittsburgh steel district at 80% of capacity,
and with predictions of a 90% rate within a few weeks, it
begins to look as though the seeming over-optimistic pre¬
dictions of a rate of virtually 100% of capacity in October
;
were
not
so
The iron and steel scrap
far-fetched after all.
markets
are
very strong in all districts.
Though brisk
manufacturing operations generally are producing much
scrap, it is being absorbed by steel makers readily.
Pig Iron—Volume of business is reported as slow in the
Aug. 8. 1936
actions in futures totaled 115 contracts.
C
COTTON
i
Friday Night, Aug. 7, 1936.
as indicated by our tele¬
grams from the South tonight, is given below.
For the
week ending this evening the total receipts have reached
38,915 bales, against 39,742 bales last week and 28,419
bales the previous week, making the total
receipts since
Aug. 1, 1936, 38,915 bales, against 67,544 bales for the
same period of 1935, showing a decrease since Aug. 1,
1936,
The Movement of the Crop,
of 28,629 bales.
Mon.
Sat.
Receipts at—
748
Galveston
Tues.
772
Wed.
Thurs.
779
Fri.
48
524
283
299
34
350
3,181
5,417
1,874
3,327
1,419
3,638
5,290
_
348
New Orleans
873
739
207
17
44
3
172
Savannah
31
21
60
29
76
35
252
Charleston
34
192
200
526
-
-
Mobiles
-
-
«
Wilmington
-
-
w
—
100
-
««
Lake Charles
443
-
...
16
Norfolk
12
50
85
49
52
160
518
•
*,■
518
6,113
4,626
7,082
7,973
38,915
«»W*.
ft*
Baltimore
Totals this week.
Wool—It
is
reported that some of the shrewdest wool
buyers in New England have been in the market recently,
and their presence is interpreted by many to mean that
prices have about touched bottom.
There were other in¬
dications that buyers are more or less resigned to the idea
that prices could hardly go lower.
There is reported to be
much less dickering when, sales are being made.
Mills and
top makers are not unlikely on the short side of their fine
wool supplies, according to trade observers. At the beginning
of this year manufacturers and top makers had in their
possession 37,625,000 pounds.
Owners of wool, meanwhile
are reconciled
to awaiting developments.
Dealers on the
other hand, note the general uptrend in business now under
way, and are of the impression that the lag in wool manu¬
facturing will be shortly eliminated.
The bulk of business
occurring is in fine wool, Texas and territory. Prices paid by
mills and top makers are in harmony with the intrinsic value
of the wool as determined by its staple and quality.
The
greater part of this buying has been within the range of
83c. to 85c., but a ,sale of graded twelve months' Texas
brought 88c. to 90c. scoured basis.
Silk—On the
3d
inst.
closed
V2 to 2c. higher.
Sales totaled 980 bales.
Japanese cables reported Grade D
10 to 15 yen higher.
The Yokohama Bourse was 13 to 14
yen higher, and Kobe Bourse was 10 to 12 yen higher.
Cash sales for both Bourses totaled 950 bales, and future
totaled 4,925 bales.
Local closing: Aug., 1.72; Sept.,
1.69% Oct., 1.68; Nov., 1.67; Dec., 1.65%
On the
4th inst. futures closed 2%i. higher.
Sales totaled 1,210
bales.
The strength in the market at this session was
attributed to the mill takings figures that ran substantially
above trade estimates.
Japanese cables were higher, with
Yokohama 3 to 6 yen higher and Kobe 6 to 9 yen higher :
on the Kobe Bourse.
Grade D rose 2V2 to 5.yen higher at
both centers, the price being 770 yen at both markets.
Cash
silk
sales for
both
futures
Bourses reached
a
total
of
1,775
Local closing: Aug., 1.73 % Sept., 1.72; Oct., 1.681^;
Nov., 1.67; Dec., 1.65%
On the 5th inst. futures closed
The
Total sales
were 700 bales.
Spot declined
Japanese cables were easier, with Yoko¬
hama 9 to 13 yen lower and Kobe 5 to 12 yen down.
Cash
silk held quite steady, grade D losing only 5 yen to go to
765 yen at both centers,
lotal sales of cash silk for both
markets were 1,000 bales, and of futures, 4,300 bales.
Local closing:
Aug., 1.72% Sept., 1.70% Oct., 1.67;
Nov., 1.65; Dec., 1.64%
1%?. to $1.79%
On
the
6th
inst.
futures
closed
4
to
61^ cents higher.
Transactions totaled 1,940 bales.
Spot advanced 2c. to
$1.81 %
Japanese cables were firm, with Grade D up 5 to
10 yen, going to 770 yen in Yokohama and 775 yen in Kobe.
Bourse quotations were 10 to 18 yen higher at Yokohama,
unchanged to 14 yen higher at Kobe.
Cash sales for both
centres totaled 1,325 bales, and futures 4,000 bales.
Local
closing:
Aug. 1.79; Sept. 1.75% Oct. 1.72; Nov. 1.70;
4,737
8,384
following table shows the week's total receipts, the
Aug. 1, 1936 and stocks tonight, compared with
total since
last year:
1936
Receipts to
Aug. 7
This
1935
Since Aug
1 1936
Week
Galveston
This
Texas City
Houston
Stock
Since Aug
1 1935
Week
2,508
2,508
1,857
1936
2,059
1935
357,115
3
3
"2",608
26,383
5,087
32,829
7,848
38,141
5",253
"5",253
9",930
~l"0", 740
169,134
56,653
25,814
261,967
"816
""827
113
113
"5l8
224,700
2,117
310,222
102,167
717
2",608
26,383
Corpus Christi__.
Beaumont
New Orleans
768
249,724
Gulfport
'
Mobile
443
.
443
Pensacola, &c
34", 852
"""523
79,009
5,193
2,097
147,605
18,797
11,848
14,501
Jacksonville
"252
Brunswick
Charleston
Lake Charles
"""252
"526
Savannah
8,549
2,833
64,656
"359
""526
25",793
16
4,648
6,300
10,676
50
47
358
358
11,131
25,725
17,375
"""497
Norfolk
""526
16
50
•.
Wilmington
""5",309
"227
227
N'port News, &c.
New York
Boston.
489
518
"""518
"196
38.915
38,915
56,583
Baltimore
"""196
869
550
__
1,000
Philadelphia
In order that
Receipts at
comparison
1936
Galveston
may
1935
2,508
2,608
5,253
1934
1,857
5,087
9,970
67,544 1,180,165 1.070,287
be made with other years,
1933
Mobile
443
Savannah
Brunswick
Charleston
252
518
6,289
4,447
11,725
3,777
2,253
"""526
"""359
"l",823
Houston
New
Orleans.
Wilmington.
Norfolk
816
.
_
358
1932
3,126
19,457
11,507
1,529
1,715
"l~,409
1931
3,048
11,473
9,036
5,622
2,351
'
658
3,049
2,269
3,183
621
"""428
17
81
231
48
9
538
120
460
121
44,065
50
...
"""227
N'port News.
All others.
26",917
37,789
24",763
38",580
42,953
Total this wk.
38,915
56,583
55,632
77,524
75,602
24,023
Since
3§,915
67,544
72,302
110,536
110,650
37,009
Aug. 1__
ry^vjxx
yjxxyj.mg,
vxxiv
o y viiiug
ICttUU
<\>
tUlcLX
of 35,360
bales, of which 10,793 were to Great Britain, 6,158
to France, 12,505 to
Germany, 2,348 to Italy, 122 to Japan,
nil to China, and 3,434 to other destinations.
In the cor¬
responding week last year total exports were 45,296 bales.
For the
season
to date
aggregate exports have been 35,360
bales, against 53,575 bales in the same period of the previous
season.
Below are the exports for the week^———^—
Week Ended
Exported to—
Aug. 7 1936
Exports from,—
Great
Ger¬
Britain France
bales.
1 to 2c. lower.
16
358
50
m
'
playing
Sellers report that the vacation period is
considerable part in the lightness of trade, it being
stated that at least half of the purchasing foundry officials
are on vacation.
Demand for cast iron pipe in the East has
improved, though most of the inquiries and orders are for
lots of less than 1,000 tons each.
Aiding the pig iron situa¬
tion is the strength in the iron and steel scrap market, with
prices still showing a rising tendency.
Steel scrap has ad¬
vanced $1. to $2. per ton within the past few weeks, which
is not lost as an influence on the pig iron market. A favorable
development of the week was the settlement of the strike of
molders in Brooklyn, which strike fortunately did not spread
to other adjacent territory.
The men receive an increase in
wages and hence consumption of pig iron in this district will
proceed as usual. The outlook for good iron sales in August
is reported to be very promising.
2,508
2,608
26,383
5,253
1,118
5,530
Houston
Corpus Christi.
New York district.
a
Total
161
Galveston
1,401
7~199
Houston
Corpus Christi
New Orleans
Lake
Italy
China
Japan
929
Other
281
1,116
269
3,540
4,575
1,103
2,763
3",227
Charles
789
many
50
3^810
1J98
"166
1,096
337
Savannah
276
"50
r__
"36
Norfolk
"570
San Francisco.
Total
1935
Total
1934
50
600
""22
10
~"l9
51
3,434
35,360
9,498
11,877
45,296
59,001
3,434
13,085
35,360
53,575
10,793
Total
6,338
13,935
2,813
10,960
337
....
"276
Mobile
Total
6,158
12,505
2,348
122
9,780
10,311
4,986
3,937
4,355
16,115
6,978
2,585
10,668
10,793
10,559
19,830
6,158
5,061
3,937
12,505
4,830
2,348
10,341
9,699
22,387
3,428
23,531
1
9,699
3~508
Total since
Aug. 1—
1936...
1935
1934.
xu
«uuiviuu
uvj
oiuuvkj
cA^uxia,
uux
122
12" 963
telegrams
give us the following amounts of cotton
cleared, at the ports named:
on
18,684 104,760
lomgnu
also
shipboard, not
Volume
Financial
143
more
On
Shipboard Not Cleared for—
Leaving
Aug. 7 at—
Ger¬
Oreat
Britain
Galveston
New Orleans
_
many
_
800
1,000
"386
3,900
1,684
Houston
France
1,128
314
Other
Foreign
wise
Stock
Coast¬
4,000
2,276
2,454
1,300
470
Total
11,000
4,744
3,968
Savannah
""2
Charleston
"loo
2,23i
Mobile
"~2
2,331
Norfolk
Other ports
Total 1936-Total 1935
7,815
7,581
1,186
Total 1934----
4,896
1,515
319
2,442
2,000
3,528
346,115
164,390
257,999
147,605
25,791
76,678
25,725
113,817
8,830
13,778
1,772
711
22,045 1,158,120
24,389 1,045,898
36,187
2,699
48,825 2,306,405
less
or
this confused situation is clarified.
prices closed 4 to 8 points up.
Trading
quiet, with fluctuations within a very narrow range.
There were two reasons given for the inactive state of trade—
one was a disposition on the part of traders to await the
Government report, and the other reason, the absence of a
Liverpool market as the result of a holiday there.
There
was some scattered professional buying in the final hour,
this resulting in gains that were sustained to the close.
The issuance of a fourth private crop estimate created little
stir, though the forecast was 1,200,000 bales below that
predicted by the American Cooperative Cotton Association.
The estimate was issued by James E. Bennett & Co., and
placed the condition of the crop at 68.1% and the indicated
yield at 11,661,000 bales.
The average price of middling
based on the 10 designated spot markets Saturday was
12.72c.
Average for the week from July 25 to July 31, was
12.85c., against 12.92c. in the previous week and 12.09c.
for the corresponding week of last year.
On the 3d inst.
prices closed 3 to 6 points down.
There is considerable
confusion in the minds of traders these days as a result of the
recent private crop estimates, which show a
discrepency of
more than a million bales, ranging from 11,661,000 to
12,854,000 bales.
Traders as a consequence are loath of
making any substantial comitments now until the Govern¬
ment report clarifies the situation and gives a definite line
on what to expect.
This latter report is expected Aug. 8,
and until that time a very quiet market is expected.
Trading
was moderate, and the market's softness was reflected
by the
way it yielded to a moderate amount of Wall Street selling,
tinder which prices eased more than 50c. a bale.
Worth
On the 1st inst.
was
Street also reflected the uncertainty
•
surrounding the coming
crop report, the volume of goods changing hands being
relatively small.
The average price of middling based on
the 10 designated spot markets was 12.66c.
On the 4th inst.
prices closed 20 to 24 points down.
This sharp break was
the result of heavy liquidation on the part of traders, who
are now generally
holding the idea that the Government
estimate may show production well above 12,000,000 bales.
This feeling also seems to prevail in many quarters abroad
that the Government crop report will prove
decidedly bear¬
ish.
Some crop service estimates are in excess of
12,500,000
bales.
The Liverpool market was decidedly
heavy, prices
at the opening being 11 to 16 points lower than due.
It
was reported that selling from Bombay and the
Continent
uncovered stop loss orders on the way down, the
only sup¬
port coming from short covering.
The English market
finally registered a net loss of 15 to 17 points.
No large
scale operations in the local market were in
evidence, there
being a decided inclination on the part of most traders to
await the Government report, the recent private
crop reports
being so widely at variance that a state of confusion prevails
generally as to the actual yield of the present cotton crop.
The average price of middling based on the 10
designated
spot markets was 12.45c.
On the 5th inst. prices closed ■
6 to 9 points up.
This range was approximately the highs
of the day.
The piarket was comparatively quiet, with
trading confined largely to the local element.
There was
a moderate demand at times, but there was also
a steady
dribbling of offerings, sufficient to hold the market in check
when displaying marked upward tendencies.
As the session
advanced offerings became increasingly scarce, this
appar¬
ently indicating a fairly well liquidated market and a
stronger technical position.
Two private crop estimates,
which were issued overnight—instead of
giving some light
on the forthcoming Bureau
estimate—merely added to the
confusion concerning what the Government report would
finally show.
A local trade paper estimated the crop at
11,512,000 bales, while a Southern crop service forecasts a
yield of 12,459,000 bales.
This continued wide difference
served to discourage aggressive operations either
way.
Pri¬
vate opinions on the size of the crop appeared to be
crystalizing around 12,250,000 bales.
Spot demand was again
quiet, with textiles inactive and steady.
The average price
of middling at the 10 designated spot markets was
12.50c£
On the 6th inst. prices closed 6 to 11 points up.
Trading
comparatively light, with the market showing indica¬
tions of having been pretty well liquidated, and all set for
the forthcoming government crop
report.
Traders were
at
sea
the size of
over
the crop,
the recent
of ideas.
buying was prompted by rumors that a leading
cooperative association, which had estimated the yield at
12,854,000 bales, had reduced its estimate around 200,000
bales.
Comparatively little attention was given to the gen¬
eral routine of business, interest generally being focused
on
the forthcoming government crop estimate.
It is be¬
lieved that the market is in a better position to respond to
private
resulting
reports
in
confusion
great
a
Some late
constructive factors- than to bearish features on account of
the
recent heavy liquidation.
Southern spot markets, as
officially reported, were 5 points lower to 6 points higher.
The average price of middling at the 10 designated spot
markets
Speculation in cotton for future delivery was moderately
active.
Traders appeared disinclined to make any largescale commitments pending the forthcoming
government
crop report.
Much uncertainty regarding the size of the
new crop
yield had been caused by the widely differing
private estimates that appeared earlier in the week, and
traders generally preferred to remain aloof from the market
until
943
Chronicle
was
12.53c.
~
Today prices closed 1 to 4 points up.
Trading was light,
with fluctuations within a very narrow range.
What trad¬
ing there was,
tions
confined largely to evening up opera¬
was
in
preparation for the government report, which is
scheduled for publication immediately after the close of the
market on, Saturday.
much eagerness, and
This report is looked forward to with
perhaps anxiety, because of the widely
differing private crop estimates issued during the early
part of the week.
Reports generally have been favorable
to the growing crop, and this has been the case for some
time past.
For that reason some are looking forward to a
decidedly bearish government crop report.
If it should
prove
the reverse, the market appears in an excellent
position for a substantial immediate response, its technical
position being regarded as decidedly strong.
New York Quotations for 32 Years
V
quotations for middling upland at New York on
Aug. 7 for each of the past 32 years have been as follows:
The
1936--- ._12.67c.
1928--.--19.65c. 1920--._-39.50c.
17.15c. 1919
.31.50c.
18.75c. 1918
31.45c.
1925
24.55c. 1917--.--28.00c.
1924- -—31.10c. 1916-. —,14.10c.
1923
25.15c. 1915
9.45c.
1922
21.10c. 1914--.__12.50c.
1921
13.50c. 1913 -----12.00c.
1927
—
—
1931---
7.95c.
—
1912—12.65c.
1911--12.75c.
1926
1935--- _-12.84c.
1934--- -13.30c.
9.90c.
1933--6.20c.
1932---
1910
-
1930—_ -.13.15c.
1929—- -,18.95c.
—
15.90c.
1909
12.50c.
1908—— 10.85c.
1907--.--13.20c.
1906-
--10.70c.
1905—_ .10.85c.
—
Market and Sales at New York
on the spot each day during the
indicated in the following statement.
For the convenience of the reader, we also add columns
which show at a glance how the market for spot and futures
closed on same days.
.
The total sales of cotton
week at New York
are
Futures
Spot Market
Saturday—
Monday
Tuesday
WednesdayThursday
Friday
—
__
Market
Closed
SALES
Closed
Steady, 4 pts. adviQuiet, Opts, dec
Quiet, 20 pts. dec—
Steady, 4 pts. dec__
Steady, 6 pts. adv—
Steady, 2 pts. adv__
■
Spot
Steady--
Steady. •
"400
500
highest, lowest and
week have been
New York for the past
Tuesday
Aug. 4
Monday
Saturday
Aug. 1
Aug. 3
200
300
300
500
1,400
1,400
_
Aug. 1
Futures—The
"400
200
1,400
1,400
Barely steadySteady
SteadySteady
Total weekSince
Total
Contract
closing < prices
follows:
at
as
Wednesday
Aug'. 5
Thursday
Aug. 6
Friday
Aug. 7
Awff.(1936)
11.77-12.15 11.90-11.90
Range—
12.74n
12.5377
11.8377
11.9577
11.9777
12.2377
Closing- 12.79n
12.0377
11.9477
12.0077
12.0277
Sept.—
Range—
Closing. 12.29n
Oct.—
Range— 12.09-12.16 11.99-12.15 11.85-12.05 11.88-11.97 11.91-12.04 11.97-12.06
11.88-11.89 11.94-11.95 12.00
12.02-12.04
Closing - 12.14-12.15 12.08
Nov.—
Range—
11.9477
11.8877
12.0877
Closing. 12.1577
12.0177
12.0377
Dec.—
Range— 12.06-12.14 12.00-12.12 11.86-12.01 11.89-11.97 11.93-12.04 11.98-12.07
12.02 —
12.04
12.09-12.10 11.88-11.89 11.95
Closing. 12.14»
Jan. (1937)
Range._ 12.05-12.11 12.05-12.11 11.85-12.01 11.89-11.97 11.94-12.02 12.00-12.04
11.86 -— 11.95 —— 12.02 —
12.10
12.03 —
12.1377
Closing
Feb.—
Range—
12.1077
Closing. 12.1377
11.9577
11.8777
12.0377
12.0577
March—
Range.. 12.06-12.15 12.01-12.12 11.87-12.01 11.89-11.98 11.95-12.08 12.02-12
11.88-11.89. 11.95 —
12.05 —
12.07-12.08
12.13-12.14 12.09 —
Closing
April—
Range11.8877
12.0977
12.1377
Closing
11.9577
,
12.0577
12.0777
May—
Range.
12.09-12.15 12.00-12.13 11.87-12.02 11.89-11.97 11.94-12.09 12.01-12.11
Closing
12.14
—
12.10
11.89
—
—
11.95
-
12.06
-
12.08
June—
Range—
Closing. 12.1377
11.8877
12.0977
11.9477
12.0477
12.0777
July—
12.01-12.11 11.83-11.99 11.89-11.92 11.93-12.07 11.99-12.10
Range-
Closing
77
.
124277
11.8777
12.0877
11.9377
12.02
-
12.0677
Nominal.
Range for future prices at New York for week ending
Aug. 7, 1936, and since trading began on each option:
Aug. 1936— 11.77 Aug.
1936— 11.85 Aug.
4 12.11 Aug.
5 10.39 Jan.
10.42 Sept.
4 12.16 Aug.
1
Nov. 1936—
Jan.
1936— 11.86 Aug.
1937— 11.85 Aug.
Feb
9 1936 12.90 July
3 1935 12.32 July
211936
8 1936
10 1936
10.12 Mar.
3 1936 12.25 July 23 1936
9.76 Jan.
91936 12.78 July 10 1936
1
1 9.94 Feb. 25 1936 12.76 July 10 1936
5 12.15 Aug.
Sept. 1936—
Oct.
Range Since Beginning of Option
Range for Week
Option for—
4 12.14
Aug".
9.80 Jan.
9 1936 12.78 July
1937
Dec.
16.20
Mar. 27 1936 12.78 July
10 1936
Mar. 1937— 11.87
Aug.
4 12.15 Aug.
1
May 1937— 11.87
Aug.
4 12.15 Aug.
1 10.48 June
11936
12.78 July
10 1936
11.8*3"
Aug.
4 12.11
3 11.83 Aug.
4 1936 12.55 July
27 1936
was
July
1937—
Aug.
Financial
944
The official
quotation for middling upland cotton in the
for the past week has been:
New York market each day
f Aug. 1 to Aug. 7—
Middling upland
Wed. Thurs.
Tuesi
Mon.
12.83
Sat.
12.89
12.63
12.59
Chronicle
week and since
The results for the
reports Friday night.
Aug. 1 in the last two years are as follows:
1935-
1936
Fri.
12.67
12.65
Aug. 8, 1936
Since
Aug. 7—
Since
Week
Aug. 1
Aug. 1
Shipped—
Via St. Louis
figures
brought down to Thursday evening.
To make
complete figures for tonight (Friday) we
add the item of exports from the United States, for Friday
only4,
3,477
1,940
338
3,618
3,618
2,443
3,000
4,202
4,845
.11,816
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
3,477
1,940
~3§8
The Visible
Week
11,816
8,415
11,404
618
196
256
518
256
247
346
6,735
6,735
6,135
6,575
7.509
7,509
6,578
7,175
4,307
4,307
1,837
4,229
Via Mounds, &c
are
Deduct
1936
641.000
bales.
1935
488.000
93,000
Aug 7—
Stock at Liverpool-...
Stock at Manchester
64,000
1934
901,000
96,000
d 1
1932
724,000
104,000
552,000
185,000
81,000
20,000
60,000
57,000
14,000
8,000
997,000
419,000
167,000
23,000
60,000
53,000
7,000
11,000
828,000
473,000
182,000
23,000
74,000
425,000
740,000
856,000
interior
Between
towns..
_
Total to be deducted..
Total Great Britain
Stock at Bremen
Stock at Havre
Stock at Rotterdam
Stock at Barcelona
734,000
161,000
134,000
12,000
64,000•
61,000
11,000
9,000
;
._
-
Stock at Genoa
Stock at Venice and Mestre.
Stock at Trieste
452,000
Total Continental stocks
Total European stocks
India cotton afloat for Europe—
1,186,000
59,000
87,000
American cotton afloat for Europe
:
104,000
977,000 1,737,000 1,684,000
87,000
123,000
52,000
123,000
107,000
366,000
98,000
292,000
801,000
2,952,588
1,151,235
29,434
225,000
176,000
178,000
101,000
91,000
200,000
807,000
593,000
947,000
1,180,165 1,070,287 2,355,230
towns....1,167,401 1,111,532 1,128,283
13,010
5,401
5,425
Egypt, Brazil,&c.,afl't for Europe
Stock in Alexandria, Egypt
Stock in Bombay, India
Stock in U. S. ports
Stock in TJ. S. interior
U. S. exports today
_
,
.
Of the above, totals of
American and other descriptions
Liverpool stock
234,000
bales.
Manchester stock
Bremen stock
150,000
24,000
39,000
013,000
88,000
80,000
are as follows:
317,000
387,000
48,000
57,000
361,000
139,000
96,000
783,000
123,000
366,000
2,355,230 2,952,588
1,128,283 1,151,235
5,425
29,434
115,000
61,000
87,000
123,000
87,000
1,180,165 1,070,287
1,167,401 1,111,532
5,401
13,010
Havre stock.
Other Continental stock
American afloat for Europe
TJ. S. ports stock
U. S. interior stock
U. S. exports today
Total American
2,991,576 2.747,220 4,572,938 5,726,257
East Indian, Brazil, &c.—
Liverpool stock.
Manchester stock..
Bremen stock
I
407,000
338,000
40,000
60,000
59,000
82,000
87,000
584,000
48,000
58,000
' 28,000
58,000
52,000
225,000
101,000
807,000
;
176,000
91,000
593,000
200,000
947,000
54,000
58,000
46,000
77,000
Havre stock
Other Continental stock
Indian afloat for Europe
Egypt. Brazil, &c., afloat
Stock in Alexandria, Egypt
Stock in Bombay, India
20,000
337,000
47,000
Including movement by rail to Canada.
178,000
Total visible supply.
4,825,576 4,234,220 8,725,938 7,481,257
7.02d.
6.48d.
7.42d.
5.90d.
11.60c.
13.75c.
9.30c.
12.67c.
11 eri~
°
8.55d.
9.56d.
8.76d.
11.50d.
Middling uplands, Liverpool
Middling uplands, New York
Egypt, good Sakel, Liverpool
Broach, fine, Liverpool
Peruvian Tanguis, g'd fair, L'pool
C.P.Oomra No. 1 staple, s'fine.Liv
5.64d.
5.61d.
5.70d.
5.02d.
Interior
5.72d.
the
Towns
1936
In
Sight and Spinners'
Takings
Since
Aug. 1
Week
38,915
4,307
125,000
56,583
1,837
80,000
67,544
4,229
107.000
.168,222
.*39,016
168,222
*39,016
138,420
*10,014
178,773
*12,805
Came into sight during week— .129,206
Total in sight Aug. 7--.-- —
129,206
...
Total marketed
excess
North, spinn's'takings to Aug. 7
*
Movement into sight in previous years:
Bales
Week—
1934—Aug. 10
1933—Aug. 11J
1932—Aug. 12__
Ship¬
Stocks
ments
Aug.
Week
7
Receipts
13,532
/
Since Aug. 1—
.
Bales
182,820
276,160
1933.
1932
--..191.559
Quotations for Middling Cotton at Other Markets—
Below are the closing quotations for middling cotton at
Southern and other principal cotton markets for each day
Closing Quotations for Middling Cotton
on-
Week Ended
Saturday Monday
Aug. 7
Galveston..
12.61
12.57
New Orleans
12.71
Mobile
12.64
Norfolk
12.85
Montgomery
Augusta
Memphis
12.65
12.58
13.39
13.33
12.65
'
12.64
12.48
12.84
Tuesday
12.60
12.58
12.48
12.28
12.28
Savannah
__
Houston
Little Rock
12.37
Friday
12.34
12.34
12.45
12.32
12.41
12.34
12.43
12.40
12.50
12.27
12.60
12.64
12.60
12.63
12.80
12.55
12.42
12.78
12.64
Fort Worth
Wed'day Thursday
12.60
12.65
12.70
12.70
12.39
12.45
12.40
13.13
13.19
13.25
12.43
13.28
12.30
12.35
12.40
12.40
12.38
12.43
12.48
12.50
12.30
12.34
12.40
12.08
12.08
12.14
12.20
12.43
12.18
12.14
12.20
12.18
12.47
12.42
New Orleans Contract Market—The
for
closing quotations
leading contracts in the New Orleans cotton market for
week have been as follows:
the past
Monday
Tuesday
Aug. 3
Aug. 4
Wednesday
Thursday
Friday
Aug. 6
Aug. 5
Aug. 7
Aug. (1936)
September
Ship¬
Stocks
ments
Receipts
165,968
1934
129,877
1.174,916
129,595
Saturday
Movement to Aug. 9 1935
Movement to Aug. 7 1936
......
13,532
17,789
Decrease.
;
.
128,406
17,789
Aug. 1
Towns
1935
Since
Aug. 1
Week
Recepits at ports to Aug. 7
38,915
Net overland to Aug. 7
4,307
Southern consumption to Aug. 7.125,000
movement—that
is, the
receipts for the week and since Aug. 1, the shipments for
the week aud the stock tonight, and the same items for the
corresponding period of the previous year—is set out in
•
„
of 78 bales.
Dallas
7.72d.
Continental imports for past week have been 57,000 bales.
detail below:
'
of the week:
1,834,000 1,487,000 2,153,000 1,755,000
2,991,576 2,747,220 4,572,938 5,726,257
the
254
week's net overland movement
bales, against 1,837 bales for
the week last year, and that for the season to date the
aggregate net overland exhibits an increase over a year ago
73,000
107,000
98,000
292,000
801,000
Total East India, &c
Total American-
At
3,196
4,825,576 4,234,220 6,725,938 7,481,257
A*. Tit CTi CQt7\r~~m
.
606
""170
The foregoing shows the
this year has been 4,309
Interior stocks in
Total visible supply
_
Leaving total net overland *—
*
468
"170 '
Shipments
ipi
,
-
2'443
%
the total show the
1,581
1,581
Aug.
Ala., Birming'm
55
592
55
'
Eufaula
191
4
371
56
623
24
Selma
Ark., Blythville
.
78
4
56
24
1,036
78
Montgomery.
Forest City..
Helena.
-
601
.
.
"
168
168
Hope
—
<-
-
1,221
M
-
-
-
31,237
9,710
49,588
Week
Season
121
....
October
4
5,378
262
25
174
6,470
33
16,080
34,332
75,554
17,064
11,679
16,009
24,409
40,441
14,296
24,044
11,153
3,334
22,799
35,019
81,095
11,361
12,719
19,323
21,509
23,277
11,617
29,074
9,629
3,176
4,292
10,938
Jonesboro..-.
5
5
388
M
~
781
2,426
40,306
Newport
215
423
11,035
215
-
—
«.
2,396
9,610
781
92
87
33
5,809
3
3
«.
-■«.
-
-
179
369
w
-
894
28,838
233
10,727
2
15,912
27
650
92
22,077
81,946
90,345
68
125
818
818
405
536
7,110
1,912
500
900
200
5
320
24
30
24
'
Walnut Ridge
.
'
7
Ga., Albany...
Athens
"
7
15
15
1,502
1,502
9,545
3,046
3,046
5,495
.
Atlanta.
Augusta
Columbus
700
25
l
10
27
26,955
350
~
46
33,000
1 968
19,959
600
94
Rome
94
25
600
Macon
"
'*»**«
La., Shreveport
1
1
497
14,027
Mlss.Clarksdale
107
107
91
500
604
Columbus
311
692
311
25
19,433
737
737
160
"51
"51
349
5,607
274
274
624
9
9
284
6,822
15
15
47
510
338
1,825
~
Greenwood..
Jackson
....
m
-
Natchez
19
Vicksburg...
19
32
1.021
"280
280
255
Yazoo City..
6
6
303
820
1
1
95
Mo., St. Louis.
N,C.,Gr'nsboro
3,402
3,402
3,477
1,803
1,934
1,934
1,581
586
392
392
283
2,272
7
7.
861
2,445
15 towns *.__
87
87
1,148
81,547
15
35
S.C., Greenville
Tenn., Mem phis
2,957
8,827
2,957
1,967 36,922
24,981 350,963
1,542
14,877
1,542
19,421
Oklahoma—
8,827
Texas, Abilene.
Austin
1,113
•
"
-
-
-
«•..
488
«.
•
2
2
102
2,000
"31
Dallas
348
348
513
3,668
50
Paris
102
102
240
3,034
517
517
57
57
Brenham
Robstown
San Antonio.
Texarkana
Waco
Total, 56 towns
29
1,435
95
23,746
95
23,746
23
5,513
2,277
M
-
52
62,7621167401
—
"al
50
_
~~2~669
76
44
-
-
-
1,
"38
11.91
11.82
119051191a 11.95
12.00
12.05
11.82
11.90
11.95
12.00
12.12
12.05
11.83
11.91
11.98
12.02
12.11
12.07
11.84
11.92
11.99-12.00 12.04
Is3
529
72
6,118
1,998
14,263
7,441
11.93
11.99-12.00
.
April
May.....
June
July...... 12.08
Bid.
120551206a 118351184a 118851190a 119851199a 12.045-.05a
Tone—
Spot.....
Options...
Quiet.
Quiet;
Steady.
Dull.
Quiet.
Steady.
Steady.
Steady.
Steady.
Barely stdy
Steady.
Steady.
First 1936 Bale of Cotton from Louisiana—The
Orleans "Times
New
Picayune" of July 31 reports the first bale
of 1936 cotton from
Louisiana
as
follows:
The first bale of 1936 Louisiana cotton to be sold in New Orleans this
season
brought 18 cents
pound in spirited bidding at the auction of the
bale in Varieties Alley in the rear of the New Orleans Cotton
Exchange
on July 30.
The price contrasts with 16 cents a pound paid for the first
bale last
a
season.
The first Louisiana growth was produced by the Louisiana Delta Farms
the same farm that sent the first bale to New
Orleans last season. E.N. Mallory is general manager of the farm.
Co., Lafourche Parish,
W. A. Lighter Jr. of the cotton firm of Lighter & Sons, New
Orleans,
the successful bidder.
Other firms bidding for the bale were Anderson,
Clayton & Co., Tullis, Craig & Co. and Pape, Williams & Co. E. O. Jewell,
President of the New Orleans Spot Cotton Merchants' Association, acted
was
as
auctioneer.
The bale
weighed 415 pounds and was graded as middling cotton of
1 1-16-inch staple. The cotton was consigned to Putnam-Geren & Co.
It was reported on the floor of the Cotton Exchange the same afternoon
that another bale of Louisiana cotton had been bought at
Opelousas by
Anderson, Clayton & Co. for 15 cents a pound.
grown by Ernest Fruge, near Church Point.
It
received
a
-
85
*4
36
M
10,842
76
—
112105,941
3,8971 33,464
8,945314,987
8,054
2,385
"II
4,201
76
5,763
_
2~669
242
304
..
-
11.82
March
1
183
12
16,279
12.04
12.05
February
183
1,295
12.11
..
November
3,443
52,284
62,389
Little Rock..
Pine Bluff...
9
Week
December. 12.11
Jan. (1937) 12.11
Season
Week
bale.
Last
The cotton
was
reported
was said that the grower
bonus of free ginning and a barrel of flour for picking the
early
season
the first Louisiana cotton
was
ginned
on
July 24.
Bulloch County Gins First 1936 Bale—Bulloch
County's
first 1936 bale of cotton was reported in a dispatch to the
Savannah
July 29
as
"News"
from
Statesboro,
Ga.,
under
date
of
follows:
Bulloch County's first 1936 bale of cotton was ginned here on July 29
24,912
30,413
34,9261111532
at noon.
Shortly after the first bale was displayed a second balej was
ginned and brought to Statesboro.
The first bale was grown by George Miller, Route 2, Statesboro, of the
Overland Movement for the Week and Since Aug. 1—
Hagin District, this bale weighed 613 pounds and was ginned by the Foy
Brothers Ginnery.
The cotton graded middling.
The second bale was
brought in by Bill H. Simmons and weighed 520 pounds, it also graded
middling.
Both bales are on display on the court house square.
*
Includes the combined totals of 15 towns in Oklahoma.
We give below a statement showing the overland movement
for the week and since Aug. 1, as made'up from telegraphic
Volume
Financial
143
Crop Estimate of "Journal of
Cotton
crop
Rain
Commerce"—
Ga.—Savannah
5 issued its first cotton
The "Journal of Commerce" on Aug.
3 days
Atlanta
3 days
Augusta...
The report in part follows:
estimate of the 1936 crop.
945
Chronicle
S.
C.—Charleston..
Columbia
N. C.—Asheville
Charlotte
Newbern
of the paper in all of the cotton-producing
is somewhat heavier than average, but
while larger than last season's, is con¬
siderably below average due to the small acreage on which it hsas been
planted and to irregular growing conditions in many important States.
As a general thing cotton States in the central part of the belt show ex¬
cellent condition for this stage of the season, but the crop is well below
normal in Atlantic Coast States and Alabama.
In the west of the belt
Oklahoma shows poor condition,-and Texas better than average although
with a spotted condition.
1
Raleigh
2
Weldon..
States.
Yield per acre this year
less than last season.
The crop,
3.82 in.
high
1.36
0.14
3.15
2.61
0.26
0.46
0.27
high
high
high
high
high
in.
in.
in.
in.
in.
in.
day
in.
days
0.55 in.
dry
days
0.30 in.
days
0.20 in.
days
0.88 in.
days
0.38 in.
2 days
3 days
__1 day
2 days
Greenwood
reported by correspondents
high
high
3 days
1 day
...1 day
Macon
5 estimated the production of cot¬
of 1936 as of July 29 at 11,512,000
bales of 478 pounds net weight each. This is the first estimate of the crop
this season by the paper and is based on average conditions continuing
hereafter. Better than normal conditions could produce a larger, and sub¬
normal conditions a lower, ultimate outturn of cotton.
The estimate is based on somewhat higher than 10-year average condition
The "Journal of Commerce" on Aug.
ton in the United States from the crop
r.
3
2
.3
Wilmington
Tenn.—Memphis
Chattanooga
2
Nashville
79
76
low t>4
low 60
mean
mean
low 64
low 62
low 68
mean 80
high
94
92
96
94
92
93
94
90
94
97
low
low
low
low
low
mean
mean
mean
64 mean
56
mean
62 mean
66,. mean
high
high
high
high
high
94
97
90
92
92
low
low
low
low
low
62
61
66
61
62
high
92
low 68
hign
58
78
80
76
79
73
78
82
mean 78
mean 79
mean 78
mean 77
mean 77
mean
80
has also been received by tele¬
graph, showing the height of rivers at the points named at
The following statement
8
a. m.
on
the dates given:
,
Cotton Producers' Pool
-Thermometer-
Rainfall
4.12 in.
2.69 in.
,
Sells Last of Spot and Future
Aug. 7, 1936
Aug. 9. 1935
Feet
Feet
Holdings—The last of the 2,500,000 bales of spot
and futures cotton acquired from the former Federal Farm
New Orleans
Above zero of gauge-
1.2
5.8
Memphis.
gauge-
1.8
14.2
guage-
9.4
8.3
disposed of on July 29 by the
Government's cotton producers' pool, it was announced
that day by Henry A. Wallace, Secretary of the Treasury.
In Washington advices, July 29, to the New York "Journal
of Commerce" of July 30, it was also stated: At his weekly press conference today Secretary Wallace told corre¬
spondents that "it might interest you to know that we have just banked
$56,000,000 with the Treasury Department as a result of cotton pool
liquidations in the past six months."
Asked if the pool shows a profit or
Shreveport
Vicksburg
Above zero of
Above zero of
Above zero of
Above zero of
gauge-
2.5
—0.1
7.4
18.5
Cotton
Nashville
Board in the fall of 1933, was
a
are going to come out pretty close to even, I hope.
There will be
great amount of uifference either way."
Liquidations during the past month, it is said, comprised about 1,000,000
bales of spot cotton and 900,000 bales of futures.
little unless we have good rains in near future.
Rain
beneficial even to the best of it, but some fields have fair
already made.
Unless we get rain in August our staple will be very
poor and the crop will be cut at least 50% from what it promised three or
four weeks ago.
No rain this immediate section for nearly a month and
temperature very high.
With general rains next 10 days and a late frost
we could still make a good crop.
would be very
crop
break
pool manager, in taking the Government out
with minimum losses and without undue disturbance
Johnston,
of the
to the
trade.
thought that the Secretary's comment
It is
that the pool will break even
period covered by Johnston's tenure
months covering Farm Board control.
based only on the
did not include the
of office, and
Cotton Released by CCC—
Until After December—r
In announcing on Aug. 2 that requests for the release of
loan cotton, received after the reopening of the release pro¬
gram, aggregated 389,061 bales,
the Commodity Credit
Corporation said:
389,061
Bales of Loan
Sales
Halts
of
Cotton
Loan
When the release program was
was
domestic
the first release program,
Under
of mills,
taken by
figure by
reopened, at the urgent request
estimated that approximately 300,000 bales would be
mills for export.
The actual release exceeded this
about 30%.
it
a
total of 1.015,831 bales were
taken
total of 1,404,892 bales released to producers.
previously announced, no cotton will re released from the loan stocks
during the months of August, September, October, November and Decem¬
ber, except upon payment of the full loan price plus interest and carrying
from under the loan, making a
As
charges.
„
Two
Elected
Membership
on
a
Phelps, of Goodbody & Co., New York, who are
general brokerage business, and are members
engaged in a
of the New
and Paul Nortz of Nortz & Co.,
engaged in the commodity brokerage
business and importers of coffee, sugar, and rubber, were
elected to membership in the New York Cotton Exchange.
Mr. Nortz is also a member of the New York Coffee and
Sugar Exchange and Commodity Exchange, Inc.
York
Stock Exchange,
New York, who are
Weather Reports
by Telegraph—Reports to us
by tele¬
graph this evening denote that with the exception of Okla¬
homa, it is difficult to see how the month of August could
bring better weather to the cotton belt than is now pre¬
vailing.
Oklahoma's continued drought remains the wonder
of the cotton crop experts.
Although its temperatures are
nothing to complain about, the western section of the belt
as well as Mississippi is dry.
There have been .a few showers
in the eastern part of the belt, mainly in north Alabama and
widely over Georgia.
"
Rain
Texas—Galveston.
Amarillo
Austin
Abilene
Brenham
Brownsville
Corpus Christi.
Dallas
Del
Rio_____
El Paso
Henrietta
Rainfall
2 days
1.07 in.'
1.06 in.
0.82 in.
dry
dry
___1 day
0.16 in.
1 day
0.14 inr~
dry
dry
dry
dry
2 days
] day
Kerrville
cry
dry
dry
dry
dry
Lampasas
Longview
Luling
Nacogaoches
dry
dry
dry
Palestine
Paris
San Antonio
dry
Taylor
Weatherford
dry
dry
dry
dry
__
Oklahoma—Oklahoma City.
Arkansas—Eldorad o
_
Fort Smith
Little Rock
Pine Bluff
Louisiana—Alexandria
Amite
New Orleans
Shreveport
Miss.—Meridian
Vicksburg
Ala.—Mobile
Birmingham
Montgomery
Fla.—Jacksonville
Miami
Pensacola
Tampa.,...
1
1
1
2
2
5
1
...3
3
2
1
6
3
i.5
0.08
0.33
0.21
0.21
0.68
dry
days
1.50
day
0.02
days
1.73
days 3.04
days
5.00
day
0.46
days
4.11
days
1.26
days
2.12
day
day
day
days
days
in.
in.
in.
in.
in.
in.
in.
in.
in.
in.
in.
in.
in.
in,...
Thermometer-
high 90
high
90
high 98
high 100
high 92
96
nigh
94
high
high 96
96
high
high 96
high 104
high 96
high
98
high 104
high
98
high
96
high
96
high 100
high 94
high
96
high 100
high 100
high 104
high 102
high 98
high 97
high 97
high
96
high
94
high 101
high 94
high 96
high 95
high 90
94
high
high 90
high 88
high 92
high 92
Ballinger (Runnels County}—Cotton crop is from fair to good, fruiting well,
shedding, some reports of bollworm and voll weevil, but, generally
speaking, our crop is above an average.
Will need rain within a week or
10 days.
some
Big Spring (Howard
low 72
mean
81
low 72
mean
8l
low 64
mean
81
low 60
mean
80
low 70
mean
81
low 70
mean
83
low 72
mean
83
low 68
mean
82
low 66
mean
81
low 66
mean
81
low 60
mean
82
low 50
mean
73
low 54
mean
76
low 62
mean
83
low 60
mean
low 62
mean
79
79
low 64
mean
80
County)—Past week of high temperatures
has brought
and unless a general rain is
deterioration is bound to
occur.
Conservative estimate of present condition would be 75%.
A
good rain would bring this easily up to 90% or better, or its failure to appear
in time would bring it down to 50%.
Looks like a 10% increase in acreage,
and there is no insect damage.
We should receive our first bale in the last
half of September, and free movement should begin in October.
Clarendon (Donley County)—Generally dry, though crops holding up
remarkably well.
Some "hot spots" beginning to show in tight land and
early planting beginning to show dry leaves dropped in the middles.
Sandy
lands growing nicely now and will last much longer without rain.
Most
of this section been without rain now since last of May.,
As a whole, this
crop is better than last year.
About half crop is early. This cotton is
much larger than at same time last year and better fruited.
Later plantings
are not suffering yet but every day without rain cuts this crop.
Impossible
hazard a guess yet concerning size crop, all depends when rains come.
This true also about movement.
Normal movement Sept. 15 to Oct. 1.
practically no rain to this immediate vicinity,
received within next week or 10 days very rapid
Around 10% to
New York Cotton
meeting of the Board of Managers of the
Cotton Exchange, held Aug. 6, William Walter
Exchange—At
New York
to
TEXAS
will make but very
Secretary Wallace's declaration of confidence that the pool will
even on its transactions was interpreted as commendation of the efforts
was
follows:
Abilene (Taylor County)—About half of cotton crop is still progressing
nicely and doesn't seem to be suffering.
About one-fourth still blooming
but some looks bad in heat of day and shedding badly.
About one-fourth
Johnston Is Commended
Oscar
as
Exchange
West Texas
"We
cotton picture
Exchange Weekly
Cotton
Cotton
Aug. 3, is
no
of
*
Crop Report—The
each week publishes a compre¬
hensive report covering cotton crop conditions in Texas,
Oklahoma and Arkansas.
The current week's report, dated
Dallas
Dallas
Wallace replied:
loss in its transactions, Mr.
gauge-
15% acreage increase.
doing fine,
few spots
anything.
increase in acreage from last year, with conditions and
Floydada (Floyd County)—Cotton in most of this territory
growing, squaring and blooming satisfactory, while there are a
needing rain, but not suffering.
A general rain wouldn't hurt
There is
possible 10%
prospects much better
than this time last year.
is looking fair and is just a little later
hot and dry. I think we have at least
with a chance for a good crop in this county.
County)—Prospects this immediate territory are very
Plainview (Hale County)—Cotton
than usual.
The weather has been
15%
or
20% increase in acreage,
Quanah (Hardeman
planted account of dry weather.
but it will be next to impossible
this territory is 50% of normal.
Acreage increase is around 20%.
No insects of any kind.
Shamrock (Wheeler County)—There were a few scattered showers in the
territory this week, all of which were of no value.
Old cotton deteriorating
rapidly.
\ oung cotton can go a little longer without rain.
There is about
8% less cotton acreage here than last year.
Cotton sheedding and blooming
in top.
No prospect of rain.
Condition 52%. Unless we get general
rains first half of August our condition will be about 25% to 30%. Present
indication is that this county will not gin as much cotton as last year.
Snyder (Scurry County)—Conditions this part of country are not so favor¬
able at this time as we need rain.
Cotton is up to a good height and has
plenty of fruit on it and is clean, but it cannot stand these hot winds much
poor.
About 25%
The cotton that is
to make
a
of county was never
here looks fairly good
normal crop.
The condition
longer without
moisture.
A
highly beneficial to crops
rain any time in August
acreage increase over last
General movement should shart about Sept. 1.
Stamford (Jones County)—A good ram would be
However, the crop is holding up well and
would make a fair crop.
Condition is around 70,
here.
year
20 %.
North Texas
Clarksville (Red River
County)—Crop making excellent progress.
Moisture
Condition of crop as of Aug. 1 about
with last year 20%. Insect damage
New crop is expected to move freely
past week clear with hot days and
will make 35,000 bales.
Dallas (Dallas County)—Crop still making good progress.
Hot winds
first of week caused plant to wilt in some localities, but moisture is sufficient
for the present.
Some open bolls on early cotton.
Forney (Kaufman County)—Cotton crop Forney trade territory continues
to improve and as of Aug. 1 shows condition of 80%.
No insect damage to
date but there is slight root rot damage.
Increase in acreage is 15% over
last year.
Received first bale Aug. 1.
Free movement of this year's crop
will begin about Aug. 15 unless adverse weather conditions prevail.
Gainesville (Cooke County)—Condition this territory 75%.
10% increase
in acreage.
No insect damage.
Weather fine, though a good rain would
help the late cotton.
Movement should start about Aug. 20 to Sept. 1.
Garland (Dallas County)—Cotton drop in this area is doing fine.
Very
little of the fruit has been thrown off so far.
So far no insects are bothering
right, plant still
90%
Increase
fruiting properly-
in acreage compared
2%
Look for first bale this week.
about first of September.
Weather
cool nights.
Looks like this county
low 64
mean
82
low 70
mean
82
low 58
mean
77
low 56
mean
78
low 66
mean
low 57
mean
83
81
low 64
mean
83
low 66
mean
82
low 62
mean
79
64
mean
81
low 61
mean
low 70
mean
79
82
64
mean
83
this section 65 to
low 62
mean
78
the dry
low 64
mean
80
low
low
th
County)—Large per cent of cotton has from six to eight
stalk, which are practically full grown, besides other fruitage.
need rain rather badly, and a good general rain would bring
about further increase in production, provided it did not result in worms
or other insects.
Lots of fields have every indication of a sure crop ranging
from one half to one bale per acre.
Cotton is still blooming near top but
continued dry hot weather will cause many small bolls to open prematurely.
Cotton is just beginning to open in this immediate vicinity.
We should
receive first bale within a week or 10 days.
Greenville (Hunt
bolls
per
Some fields
Honey Grove
(Fammin County)—My estimate
of the condition of the crop
75 % of normal.
However, right in this immediate section
weather is causing it to decline very fast by shedding squares and
small bolls.
My present idea of the acreage compared to last year, 20%
increase.
No insect damage.
Anticipate new crop will move freely about
low 66
mean
74
low 60
mean
low 62
mean
75
78
Paris
low 72
mean
8l
start and
low 70
mean
79
still
low 68
mean
85
dry
low 70
mean
81
few
25
•
fruiting from the
and is
being
little
in northwest part of county where soil is thin.
There have been very
reports of any signs of insects, and no sign of deterioration.
(Lamar County)—Cotton has continually been
has shed very little.
It is loaded with bolls and squares
blooming.
Weather has been ideal with exception of
a
Financial
946
Chronicle
Sulphur Springs (.Hopkins County)—-Weather continues favorable to
cotton.
Moisture just Tight and no rains wanted at this time.
Com¬
plaints of weevil and flea, but damage not of any concern as yet.
Terrell (Kaufman County)—Another week of dry weather, and crop is
still not suffering.
The top leaves are beginning to wilt through the heat
of the day, but the cool nights bring them out fresh again in the mornings.
There is a slight dry weather shedding, but the stalk has so much fruit
on
(Bryan County)—Plant is small but well fruited and needing rain
localities.
Have had no rain except showers for six weeks.
No
reported.
If we could get a good rain soon, we should make a
good crop, but if it does not rain, the crop will be cut short.
Acreage
increased about 20% above last year.
Movement will start about Sept. 1.
Durant
in
rain before a week or 10
would help the young cotton and
it did not stay cloudy.
There is no insect
from 20 to 25% above normal, and increase
Central Texas
Brenham
(Washington County)—Plant is shedding heavily account ex¬
four weeks of
cessive rains and weevil activity.
Unless we have three or
hot dry weather, the crop will be very short.
Leaf worm is
and some
also appearing
poisoning.
Much acreage has been
Present acreage is about 10% larger
lost in creek bottoms and
than last year, though it
may be less.
There is much cotton shoulder-high with nothing on it.
Many will not poison as they think crop promises too little.
Our prospect
is now hanging in the balance, depending on the weather, with the odds
decidedly against it.
Caldwell (Burleson County)—Condition looks to be about 70%, acreage
increase 10%.
Following a month of wet weather the growth is rank and
cotton is shedding badly, due partly to weevil and army worms, which have
just started.
Farmers are poisoning generally more than usual.
We may
be able to make an average crop, but if insects get in control we won't have
more than 80% of last year's crop.
Calvert (Robertson County)—Condition about 75%.
The kcreage increase
was 10%, but abandonment due to earlier excessive rains and some flood.
Crop about 20 days late.
Insects have made their appearance rather
generally—probable infestation 15 to 20%.
Farmers generally poisoning,
but it will require several weeks of real warm and dry weather to overcome
these conditions, and for the crop to properly mature.
With continued dry
weather, crop should move about Aug. 25 to Sept. 1.
Next four weeks will
determine size of this crop.
Continued warm dry weather should mark a
are
lowlands.
wonderful Improvement.
Cameron (Milam County)—No
rain past week and cotton is beginning to
bloom, however boll weevil and boll worms are on the increase
in spots.
Need another 10 days dry weather before we can estimate crop.
I think at present 60% in this section is a fair estimate and a 5% increase
in acreage.
square and
Cleburne
(Johnson County)—Weather in this area has been dry and hot
East crop prospect that we havevery satisfactory years. Expect havefirst
The crop has made had for several progress. We the the
est week.
bale about Aug. 10th and the general movement about /September first.
Very small insect damage reported at this time.
'
Ennis (Ellis County)—Crop still looks good, but there is a slight deteriora*
tion in the upland cotton, wnich is beginning to get a little dry.
The stalks
have from 10 to 20 bolls and from 20 to 30 blooms and squares, with a
little shedding.
It now looks like we will make about twice as many bales
as
:
last season.
A rain next 10 days would help the upland, but the bottom
won' t need any more.
Glen Rose (Somervell
W e are looking for the first bale Monday or Tuesday.
County)—Our cotton is doing well, around 98% of
perfect.
Acreage about same as last year.
Some fleas and boll weevil,
but doing very little damage.
Prospect for a full crop best we have had in
several years.
Hillsboro (Hill County)—Past week
perfect
as
to weather for maturing of
cotton
and up to the present moment no complaint of insect damage.
Believe condition is around 90% with a prospective yield of 75,000 bales,
against 52,000 last year.
Lagrange (Fayette County)—Crop has deteriorated about 40% last two
The leaf worm has made its appearance and the farmers are poison¬
ing. With three or four weeks hot dry weather the crop may improve, but
as it looks now we will only make half of a normal crop.
Lockhart (Caldwell County)—Figure the percentage of condition at 78.
Acreage increase 5 %. Crop is two weeks late. There are some boll weevil
and some leaf worm.
However, the crop is still blooming nicely.
Taylor (Williamson County)—Weather during past wees: was very favor¬
able.
Drier atmosphere last of the week aided maturity and tne checking of
insects in places wnere they have bothered.
Tne first bale far the season
was ginned Saturday, one day later than .last season.
Expect several next
week, with a fair movement by the middle of the month.
Temple (Bell County)—Past week dry. Cotton made very good progress.
Leaf worm and boll worm snowed up in several places in county but with
dry weather damage will be light.
Much late cotton. We can expect only
fair crop for Bell County.
East Texas
weeks.
,
Jefferson (Marion County)—It has been hot and dry past week. We are
needing rain.
Some uplands are suffering.
However, a heavy rainfall
might cause a lot of shedding. Acreage about same as last year. No insect
damage.
Cotton clean, cultivation good.
Will probably receive our first
cotton September first.
Condition about 85% of average.
Longview (Gregg County)—Crops continue to make good progress.
Acre¬
age increased about 15% over that of last year.
First bale will be ginned
this week, but it will be about 30 days before new crop will begin to move
freely.
Weevils are doing same damagei
Timpson (Shelby County)—Two weeks ago farmers throught they had the
best prospects they had had in about 10 years and now since we have had
two weeks of hot dry weather and the North wind for the past few days has
been ruining the cotton, the farmers now realize that they have the poorest
crop they have had in several years.
Cotton is opening prematurely,
worms arp bad in some fields.
The yield will be about one half what we
though two weeks ago.
Tyler (Smith County)—Cotton in this section has progressed rapidly
during past week due to ideal weather. Some scattered showers have been
reported but rain not general. ° Insect damage to date has been slight. Most
of the farmers claim that we have the best prospect that we have had in
several years.
some
Elk
days; however, one any time now
would not damage the old cotton, provided
damage.
Condition of crop is
in acreage 15 to 20% over last
year.
Will probably have the first bale by Aug. 10, if dry weather con¬
tinues, and movement will start about last of month.
a
1
City (Beckham County)—We had about 20%
ARKANSAS
Ashdown (Little River County)—No rain this we6k, some sections not
since July 1.
Temperatures first of week very high, latter part of week
night temperatures cool.
On two-thirds of acreage plant shedding heavily
blooming in top. Have about 2% acreage abandonment since July 1.
Condition is 75% to 80% compared with 65% last year and an average
and
of 75% to 80% over a period of years.
We have a good stand and very
little if any insect damage.
Expect fair movement by Aug. 20, if August
weather is favorable.
(Faulkner County)—Cotton prospects the best known at this
Suppose Condition, should be put down at 100.
Acreage
No weevil, but scattered reports of army worms making'
their
appearance have come in within past two days.
First bale expected
about 20th.
Free movement should begin between Sept. 5 and 10, which
will be from 10 days to two weeks earlier than an average.
Jonesboro (Craighead County)—It is predicted that if lavorable weather
conditions continue, the section of eastern Arkansas between the Mississippi
Conway
time of year.
increase 15%.
St. Francis rivers will average more than a bale of cotton per acre
expected to produce more than the 1926 yield.
It would seem
have best prospects for a very fine crop.
Of course if bad weather
conditions should set in it could be ruined.
Look for a general movement
and
and is
we
about Sept. 1.
Scattered movement of first
A few first bale£ about Aug. 15.
Little
weather conditions
a
fair movement from bottom sections should be under
and from upland sections first week in Sep¬
way last week of this month
tember.
Dry warm weather
needed.
Newport (Jackson County)—No rain of consequence has fallen here in
would be beneficial.
However, crop is
not really suffering so far.
Altogether, we have one of the best prospects
about four weeks, and one now
have
ever
seen
in this, the north central section of the State.
known in this section and farmers are still busy poisoning.
Last
Pine Bluff ( Jefferson County)—Prospect for a full yield of cotton in this
county and southeast Arkansas is best we ever had for Aug. 1.
Condition
this county and from here to the Mississippi River is
90%.
Open
bolls were brought in July 28 from the river country.
No insects as yet,
although many experienced planters are looking for the army worm.
The weed is so tall and rank the army worm might do good if it would
delay
coming until the 20th.
Temperature at night is again in the sixties.
This is ripening weather, the farmers' delight.
Movement will not be
free until Sept. 10.
This county made last year 35,000 bales.
It points
to 55,000 to 60,000 bales this year.
No rain since our last report.
Weather
in
is ideal.
,
90,000. What the final will be is a hard guess even in face of 15% increase
in acreage.
San Patricio County made 43,000 bales past season and had a
short crop and this season with acreage increase of 15% may make 30,000
bales, but doubtful,
Thissection depends on whether it will make a late
not. Weather at present ideal.
County)—Cotton crop Gonzales County very poor.
Original planting about 10% increase, loss from high water and washing
rains about 20% , making acreage 10% less than last season.
Guesses on
crop run from five to seven thousand bales for county.
Will have light
movement by Aug. 15.
Weevil very bad.
Hot weather on wet ground
has caused shedding of small bolls and squares and in many instances
shedding leaves.
Do not expect additional crop to set with weevil and
crop as past seasqn, or
(Gonzatcs
leaf worms to contend with.
San Marcos (Hays County)—'Condition 68%.
10% increase in acreage.
Crop about 15 days late. Insects are doing about usual amount of damage.
If we have dry weather will make a good crop.
Expect small movement
Aug. 25.
Seguin (Guadalupe County)—Condition of our crop has remained about
same as last week.
Will make about 50% of a normal crop
(normal,
before reduction program).
Have acreage increase about 10% above last
year.
Estimate county production 15,000 to 16,000 bales.
Have boll
worm and weevil working, also first signs of leaf worm
yesterday.
OKLAHOMA
County)—Very
little
change
.
World's
Supply and Takings of Cotton—The follow¬
ing brief but comprehensive statement indicates at a glance
the world's supply of cotton for the week and since
Aug. 1'
obtainable; also the takings
sight for the like period:
in
weather
Cotton Takings,
Week and Season
conditions
except Friday and Saturday.
Some cooler but no rain.
Cotton plants
have shown effects of high temperature and continued dryness last few days.
There are no insects working except the grasshopper, with amall damage
being done on account of effective poisoning.
Crop condition at this time
of normal.
Movement will depend on August rains as cotton is
blooming in tho top now and without moisture will open quickly.
Ardmore (Carter County)—Cotton prospects are favoraDle at this time
Week
Visible supply July 31
Visible supply Aug. 1__
-
American in sight to Aug. 7Bombay receipts to Aug. 6
129,206
34,000
7,000
-
Total supply
Deduct—
*
Week
Season i
4,278,315
4,899,258
129,206
29,000
.5,000
200
4,295,259
165,968
15,000
29.000
128,456
12,000
29,000
200
5,000
200
6,000
5,000
200
5,000
5,067,664
4,452,921
4,510,427
4,8^5,576
4,825,576
4,234,220
4^234,220
250,088
228,888
21,200
242,088
228,888
13,200
218,701
171,501
47.200
276,207
206,007
70.200
a
Of which American
Of which other
tt
1935
Season
5,075,664
Visible supply, Aug. 7-
takings to Aug. 7
amounts gone out of
4,899,258
Other India snip'ts to Aug. 6Alexandria receipts to Aug. 5Other supply to Aug. 5*0
Total
or
1936
season
this county looked like a 35,000 bale crop and made 87,000 bales; this
season at first looked like a 125,000 bale crop and now looks like about
(Caddo
Piant is
above normal in size and heavily fruited.
No insects of any kind, cul¬
tivation perfect.
Estimate condition 85%, and 15% increase in acreage.
First bale of new crop will be received here around 20th, and real move¬
ment will be about Sept. 1, unless we have bad weather.
middle of coming week should be in full blast if pickers, who are scarce,
can be had.
Insects have been more prevalent and done more damage than
Anadarko
bales, &c., late in August.
(Pulaski County)—Generally speaking,
the crop in this
section is in fine shape.
Weather favorable past Week with temperatures
near normal and no rainfall until today when moderate rains occurred.
Few small areas reported appearance of army worms at close of week, but
little damage./ Farmers are preparing to poison.
Plants continue blooming
and are heavily fruited, showing littls signs of deterioration.
Conditions
this territory between 90% and 95% of normal.
Most opinions are that
acreage increased
15% to 20% compared to last year.
With normal
Rock
are
uonzaies
increase in acreage as
compared with last year.
The stand is fair.
Have had very little insect
damage.
Weather has been hot and dry and it must rain soon for us to
make as much cotton as we did last year; however, with a good general
rain we could make a fair crop.
The plant is small and young, and no
one can tell what plenty of moisture could do to it.
Cotton should start
moving about Sept. 20.
Hugo (Choctaw County)—Dry weather has continued another full week
and moisture is not sufficient for full development of bolls.
This is espe¬
cially true on the uplands and prairies.
Quite a bit of shedding started
and plant has slowed down in growth, bottom cotton is still good.
Still
prospect for good crop in three southeastern counties.
A good general rain
needed very much.
No insect damage and will probably be none.
McAlester (Pittsburg County)—Cotton deteriorating rapidly, shedding
fruit and leaves from lack of moisture.
Condition of crop 40%, acreage
about same as last season.
No insect damage.
Plant averages 10 inches
tail
Crop should start to move the latter part of this month.
Oklahoma City (Oklahoma County)—It is general opinion that we have
fully 15% increase in acreage over last,year throughout our immediate
section.
Stand is fair to perfect and state of cultivation as near perfect
as I have ever seen.
Quite a few continuing shallow cultivation In order
to hold moisture.
Plant is average size for this time of season, strong and
healthy and well fruited, is still growing and putting on.
The only insect
infestation is the hoppers, but no noticeable damage.
It is remarkable
how the cotton is holding up considering the dry hot weather, especially on
the bottom lands, as well as the better upland.
On the latter begin to see
need of moisture, which we must have soon.
Conditions about normal for
this period, and should see some movement Sept. 1 to 15.
Waurika (Jefferson County)—Weather first half of past week continued
high temperatures of previous week, but last half of week cooler weather
prevailed and showers of rain fell in scattered sections of this territory,
but rain which fell was insufficient and unless a good general rain is received
damage is sure to occur to the cotton crop in this territory.
Continued
reports of crop deterioration by farmers in town.
Plants mostly healthy
with gooa taproot, but showing signs of effects of continued hot weather.
Early cotton blooming and fruiting well but some shedding of cotton on
thin land.
Condition of crop about 65 % of normal, acreage increased 10 %.
If drought continues crop will be moving freely by Oct. 1 to 15.
for the last two seasons from all sources from which statistics
South Texas
Corpus Christi (Nueces County)—This county and section has had clear
hot and ideal cotton weather and picking has begun everywhere and by.
ever
1936
insects
it that it would not be able to hold it all, so the shedding is not serious.
We will not need
Aug. 8,
Embraces receipts in Europe from Brazil, Smyrna, west
indies, <5cc.
This total embraces since
Aug. 1 the total estimated consumption
by
125,000 bales in 1936 and 107,000 bales in ixjoo—ia,Knigs
being available—and the aggregate amount taken by Northern and
foreign spinners, 115,088 bales in 1936 and 169,207 bales in 1935, of which
101,888 bales and 99,007 bales American.
Southern mills,
not
b Estimated.
India Cotton Movement from All
Ports—The receipts
Bombay and the shipments from all India
ports for the week and for the season from Aug. 1 as cabled,
of India cotton at
is 65%
1936
{>rovided be 70 %. a Acreage increase compared consider icounty % to 30 %.
good rain in 10 days. I with last year 25 percentage
igure to we get
No damage to
date from insects.
early in September.
,
I expect our cotton will start moving
1935
.1934
Aug. 6
Receipts—•
Since
Week
Bombay
34,000
Aug. 1
29,000
Since
Week
12,000
Aug. 1
15,000
Since
Week
32,000
Aug. 1
40»0(y)
1934
Bales
1—Mongioia, 281
To Bremen—Aug. 6—Bordum, 3,490
To Ghent—Aug. 3—Cranford, 126__
To Hamburg—Aug. 6—Bordum, 50
To Havre—Aug. 3—Cranford, 1,401
__
To Rotterdam—Aug. 3—Cranford, 40
To Oporto—Aug. 3—Meanticut, 900
fo Leixoes—Aug. 3—Meanticut, 50.
;
HOUSTON—To Genoa—July 30—Mongioia, 269
To Copenhagen—Aug. 6—Tampa, 393
To Ghent—Aug. 1—Cranford, 74
Aug. 6—Bruxelles,
For the Week
Great
Conti¬
nent
Great
China
Total
nent
Bombay—
2,000
1,000
2,000
2,000
4,000
22,000
1,000
3,000
7,000
2,000
7,000
29,000
3,000
22,000
1,000
2,000
7,000
3,000
9,000
32,000 46,000
4,000
24,000
3,000
7,000
12,000
6,000
2,000
5,000
3,000
Other Indla-
3,000
Total all—
5,000
24,000
3,000
1936
1935
1934
33,000
20,000
29,000
27,000
13,000
24,000
5,000
32,000 39,000
11,000 17,000
19,000 23,000
1,000
1935
1934
Total
China
6,000
4,000
2,000
1936
1935
&
Japan
Conti¬
Britain
Jap'nds
Britain
1936.____
1
Since August
Exports
46,000
26,000
11,000 '11,000
4,000 719,000
5,000
29,000
4,000
38,000
49,000
33,000
27,000
13,000
24,000
To Oslo—Aug. 6—Tampa,
According to the foregoing, Bombay appears
compared with last year in the week's
22,000 bales.
receipts of
To
fo
To
Koel, 2,745
To
Receipts and Shipments—We now re¬
cable of the movements of cotton at Alexan¬
dria, Egypt.
The following are the receipts and shipments
for the past week and for the corresponding week of the
previous two years:
.
Since Aug.
1_.._
—
To Liverpool
:
Aug.
Week
1
Total exports.
_
10,000
2",000
3",600
3~000
8,000
8,000
8,000
1,000
8,000
1,000
13,000
To America.
1
2~O5O
3,000
4,000
1,000
__
To Continent & India
Aug.
Week
1
Aug.
2,000
3,000
4,000
5,000
To Manchester, &c
Since
This
Since
This
Since
This
Week
Exports (Bales)—
1,000
1,000
1,000
1,000
1,000
1,000
This week
1934
1935
Receipts (cantars)—
10,000
10,000
1,000
12,000
12,000
Egyptian bales weigh about 750 lbs.
This statement shows that the receipts for the week ending Aug.
1,000 cantars and the foreign shipments 13,000 bales.
Note—A cantar is 90 lbs.
5 were
cable to¬
Market—Our report received by
Manchester
night from Manchester states that the market in yarns and
cloths is steady.
Demand for both yarn and cloth is poor.
We give prices today below and leave those for previous
weeks of this and last year for comparison:
To Manchester—Aug.
Middl'g
32s Cop
Upl'ds
Common
ings,
d.
s.
d.
d.
d.
s.
May—
r-f
,1 1i i
--
9
1
9
1
1
9 1
1—Edgehill, 1,784
6.57
10
6.56
Upl'ds
s.
-
@iik
@ 9 2
6.81
90
@ 9 2
Germany—
To Holland—._(?)_., 19
To Japan—
22
LAKE CHARLES—To Liverpool—Aug.
To Manchester—Aug. 1—Custodian,
SAN FRANCISCO—To
12...
19...
@ 9 2
0
@ 9 2
9
0
@ 9 2
3...
•
10...
•
17...
-
24...
-
31...
Of which American
90,000
...
13,000
152,000
56,000
_ _
The tone of the
86
@
90
6.76
@93
9 4
@97
7.18
10
@11K
8 6
@ 9 0
9 6
@10 0
7.68
10
86
@
90
6.94
9
@10
1
7.47
10
@11K
@11K
8
@
9
0
7.02
9 7
@10 1
7.33
10H@11 H
8 6
@
9
0
6.80
3
@10 5
7.10
10
8
@
9 0
6.68
@
9 1
6.48
10
6.82
97/4®iiH
97A@liX
7.00
9H@n H
8 6
@
7.18
97A@UH
86
@ 90
6.79
0
9
7.02
HOLI¬
@11
6
6
6.94
8 7
97A@io7A
Steady,
2 to
at Interior
1936
1935
1936
1935
May
1—
8..
1522-
29-
20.044
39,157
40,509
45,482
52,470
1934
Market,
4
P. M.
Receipts from Plantation
Toums
1935
1934
15,791
21,595
21,061
18,627
21,846
75.235 1,779,076 1,396,198 1,467,685
46.544 1,732,379 1,370,838 1,436,369
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
34,989 1.554,313 1,269,564 1,312,579
34,833 1,517,933 1,244,820 1.284,177
47,623 1,465,362 1,218,931 1,262,078
59,054 1,424,612 1,201,295 1.236,729
June
5—
47,072
12-
19-
32,597
39.972
18,907
14,317
13,466
26-
21,698
8,706
13,918
20.715
50,199 1,384,154 1,181,353 1,222,383
34,622 1,349,502 1,161,421 1,203,873
51,435 1,301,765 1,145,008 1,179,660
July
9,188
17-
21,952
13,381
16.973
24—
28,419
31
39,742
37,205
46,866
50,608 1,255,364 1,133,5631,164,839
62,636 1,206,417 1,121,546,1,145,796
38,915
56,583
55,6321,167,4011,111,5321,128,283
3-
10—
—
Aug.
7—
1934
Nil
Nil
Nil
Nil
1,201
Nil
Prices of futures at
Aug. 1
to
Aug. 7
Sat.
4,060
1,106
Nil
d.
d.
New Contract
Nil
Nil
(1937)--
6.45
-
6,431
25,524
was
for
Nil
25,760
34,849
46,569
38,119
Nil
shows:
(1) That the total receipts
from the plantations since Aug. 1, 1936, are nil bales;
in
1935 were 54,679 bales
and in 1934 were 47,848
bales.
(2) That, although the receipts at the outports the
past week were 38,915 bales, the actual movement from
plantations was nil bales, ,stock at interior towns having
decreased 39,016 bales during the week.
Shipping
News—As
shown on a previous page,
up
from mail and
the
the past week have
in detail, as made,
telegraphic reports, are as follows:
advance
below:
Fri.
-
—
d.
6.39
d.
d.
6.42
6.30
-
-
6.42
d.
6.43
d.
.
6.42
d.
6.46
d.
6.46
6.37
6.33
6.33
6.30
6.33
6.33
6.34
6.33
6.37
6.37
6.36
6.29
6.32
6.32
6.33
6.32
6.36
6.36
6.31
6.34
6.34
6.28
6.31
6.32
6.34
6.28
6.30
6.30
6.31
6.31
6.25
6.28
6.27
6.28
6.05
6.05
6.06
6.08
6.00
6.01
6.02
6.04
Friday Night, Aug. 7,
33,705
Nil
2 to 5 pts.
Thurs.
Wed.
Flour—With wheat soaring to new
Nil
35,853
16,112
27.222
35,787
43,693
7.02<L
Quiet
Very stdy.,
BREADSTUFFS
Nil
Nil
Steady,
6.36
December.-
Nil
4,302
demand
6.99d.
6.99d
HOLI¬
July
Nil
Nil
Moderate
DAY.
Holi¬
day.
March
Nil
Nil
Quiet.
5 pts. 2 to 4 pts. 4 to 5 pts.
advance.
advance.
d.
d.
December
January
Nil
Nil
Friday
Good
Tues.
October (1936)..
6,280
7,151
Thursday
Liverpool for,each day are given
Mon.
8,501
Nil
Wednesday
Close
Noon Close Noon Close Noon
Close Noon Close Noon Close
36,803
15,228
19,561
The above statement
exports of cotton from the United States
reached 35,360 bales.
The shipments
41,000
un¬ Quiet, st'y,
Barely stdy Steady, un¬ Quiet,
2 to 4 pts.
11 to 17 pts changed to changed to
advance
1 pt. adv.
3 pts. adv.
decline.
October
Ended
42,000
3,000
185,000
decline.
opened
May..
Slocks
47,000
641,000
234,000
DAY.
Market
from
Receipts at Ports
port:
Aug. 7
and futures
daily closing prices of
7.02d.
HOLI¬
DAY.
Mid.Upl'ds
indicates the actual
Week
July 31
July 31
58,000
58,000
657,000
657,000
238,000
79,000'
31,000
155,000
33,000
inquiry.
Futures.
the Plantations—The following table
movement each week from the planta¬
tions.
The figures do not include overland receipts nor
Southern consumption; they are simply a statement of the
weekly movement from the plantations of that part of the
crop which finally reaches the market through the outports.
Receipts
Quiet.
6.85
*
@10 5
10 3
10^ @12
Tuesday
Monday
Saturday
Spot
P. M.
1
@12J4
have the follow¬
Liverpool market for spots
Market,
9 1
10X@12
July 24
60,000
60,000
634,000
634,000
227,000
46,000
17,000
142,000
42,000
of the past week and the
spot cotton have been as follows:
12:15
Aug.—
7—
Of which American.
6.83
9H@11H
97A@UX
10H@11^
11
——-
—
163
51,000
640,000
237,000
Total stocks
6.92
6.68
7
30
50
10
19
22
174
163
1—Custodian, 174
July 17
9 0
6.64
@92
@93
@93
July—
570
imports, stocks, &c., at that
Forwarded....
@
@93
0
9
-
410
10-
Liverpool—By cable from Liverpool, we
ing statement of the week's
8 6
1
9
11X@12H
m
26...
—
7.01
9
9 1
100
940
400
351
100
507
2,571
1,239
100
76
200
50
1,914
849
35,360
6.90
9
10M®UH
11
@12H
•
9
,
6.88
9 0
i0H@nx
5...
»«•
350
Copenhagen—Aug. 5—Vasaholm, 100
To Venice—Aug. 3—Ida, 940
To Gdynia—Aug. 5—Vasaholm, 400
To Trieste—Aug. 3—Ida, 351
To Gothenburg—Aug. 5—Vasaholm, 100
•
To Genoa—Aug. 3—Mongioia, 507. _
To Bremen—July 31—Chemnitz, 2,571.
To Hamburg—July 31—Chemnitz, 1,239
fo Japan—July 31—Rhein, 100
MOBILE—To Havre—July 27—Indiana, 76
To Bordeaux—July 27—Indiana, 200
CORPUS CHRISTI—To Ghent—Aug. 4—Indiana, 50
To Havre—Aug. 4—Indiana, 1,914
To Dunkirk—Aug. 4—Indiana, 849
<
NORFOLK—To Hamburg—Aug.
1—City of Norfolk,
Aug. 7—City of Havre, 160
To Manchester—Aug. 5—Cold Harbor, 30
SAVANNAH—To Rotterdam—Aug. 1—Tulsa, 50
To
each day
d.
d.
9K@11X
29...
June—
1,784
194
_
Dunkirk—July 30—Indiana, 194
Gdynia—Aug. 5—Gorm, 350
To Rotterdam—Aug. 3—Binnerdijk, 9
fo
Middl'g
9 0
ioyi@UH
ioj4@liH
10H@11H
6.46
Common
to Finest
d.
s.
6.46
@93
@93
@93
@93
9
9Ji@ll M
9K@11 H
97A@ UH
9H@UX
ings,
Twist
d.
to Finest
Twist
Cotton
8A Lbs. Shirt¬
Cotton
834 Lbs. Shirt¬
1,443
735
To
Amount afloat
32s Cop
824
137
30—Indiana, 137
Liverpool—Aug. 1—Edgehill, 1,443
To Havre—July 30—Indiana, 735
Total imports
Of which American
1935
1936
3,751
6—Ditmar
To
Alexandria
1936
10
223
7,041
158
-
-
Aug.
354
4—Bordum,
Hamburg—Aug.
Koel, 470
NEW ORLEANS—To Antwerp—July
ceive weekly a
Alexandria, Egypt,
Aug. 5
564
566
25
Aug. 6—Bruxelles, 339-25
Rotterdam—Aug. 1—Cranford, 10
Dunkirk—Aug. 6—Bruxelles, 223 __
i
-.
Liverpool—Aug. 5—Custodian, 7,041_
Manchester—Aug. 5—Custodian, 158
Bremen—Aug.
4—Bordum,
1,006
Aug.
6—Ditmar
To
to show an
increase
32__
5
Gdynia—Aug. 6—Tampa, 564
To Havre—Aug. 1—Cranford, 227
To Gothenburg—Aug. 6—Tampa,
To
To
C*
281
3,490
126
50
1,401
40
900
50
269
393
106
5
GALVESTON—To Genoa—Aug.
From—•
i\
947
Financial Chronicle
143
Volume
affected,
bakery grades rising
1936.
highs, naturally flour
recently 20c., and 15c.
family flour. Rye flour advanced
10 to 15c.
No change was made in semolina.
The strong
turn failed to bring bakers into the market, however.
Again
only an odd lot business was reported.
Wheat—On the 1st inst. prices closed l^c. to2>sC. up.
This range was approximately the high of the session.
All
advertised brands of
grains appear to be under the bullish influence of corn, which
is still making big jumps forward as a result of the continued
pessimistic crop and weather reports from the corn areas.
The domestic wheat situation, though serious, has a rela¬
tively brighter outlook than feed grains.
The Miller-Bennett
report estimates the total crop at 651,000,000 bushels, or
year's domestic requirements. The Gov¬
however, that we will need some 40,200,000 bushels of spring wheat from Canada to blend with the
lower qualities of domestic wheat.
On the 3d inst. prices
closed %c. to V8c. up.
Bullish crop and weather news con¬
tinued streaming in but the advance today met a wave of
profit-taking sales, which carried prices down 3c. from the
approximately
a
ernment estimates,
948
Financial
Chronicle
highs of the session.
This seemed to throw a damper on
further aggressiveness by bullish operators, but not for a
great while.
On the strength of Winnipeg, which appeared
to reflect the steady deterioration of the Canadian
crops in
many areas—fresh buying developed in the Chicago market,
resulting in a rally of 2c. in the later trading.
Realizing was
quite heavy in most pits but most burdensome in wheat in
the early trading.
On the 4th inst. prices closed 2%c. to
3 *£c down.
This grain was influenced largely by the violent
downward plunges of corn.
The collapse of corn values was
due primarily to reports of unexpected rains in the
drought
stricken a^eas which may yet save considerable portions of
the crop.
It is assumed by many veteran traders that the
present level of prices has discounted a great deal that is
bad in the present grain situation, and violent reactions were
a most natural
consequence on the appearance of rains in
the stricken areas.
Wheat gave way with corn in a market
that was unusual for «j wift, violent price
changes and activity
of trading.
There were substantial rallies but these were
short-lived, especially when fresh reports came in of un¬
settled weather east of the Mississippi, strengthening further
the hope that a check to further crop deterioration would
result.
On the 5th inst. prices closed l%c. to 3*8<l up.
This range represented actually an advance of about 4*2C.
from an early fow point, September selling at $1.13% to
$1.13*6; December, $1.14 to $1.14*6, and May, $1.14 to
$1.14*6The principal factors in the day's advance in
wheat were the adverse reports from foreign sources, especial¬
ly as regards the tense political situation and harvesting
weather.
An added bullish influence was large scale pur¬
chasing of domestic flour, ajll of which combined to send
wheat prices kiting to the levels reported above.
This pro¬
nounced strength in wheat was in the face of a sharp setback
in corn due to bearish weather reports, which seemed to
stations
week.
corn
Another
more
less
or
transient behrish
report current that there was likelihood of
United States tariff
foreign-grown
on
a
deterioration
in
important
corn
areas.
to have
half
been
received
no
beneficial
that
over
moisture, and
fair
The
area.
and
warmer
Washington advices
import duty on corn is being considered
by the Administration did not make the longs feel any too
that
cut
a
in the
comfortable.
farmers
mand
was
the
The rush to market spot corn
appeared
continued
serious
slash in the
Wheat harvest¬
corn.
are
weather is forecast for the entire belt.
The
factor
believed
are
western
weakness of this grain in the earlier trading was attributed
largely to the fact that Liverpool wheat quotations closed
at % to 2%c. loss, although clue to show 2% to 3%c. ad¬
a
to
On the 6th inst. prices closed unchanged to %c. higher.
Weather reports were slightly bearish, further rains
having
been received over the eastern half of the corn
belt, which
belt has been
l%c. lower to %c. up.^
not added
feed.
effectively checked in many important areas.
This setback
corn, however, proved but temporary, this grain later
sympathizing with wheat strength, recovering most of the
early loss.
vance.
further
were
Notice, too, was taken of Kansas dispatches that told of a
buyers' strike against corn as feed, it being stated that with
corn costing $1.25 a bushel and wheat
only $1.10, farmers
were marketing their livestock instead of
buying expensive
in
On the 6th inst. prices closed
Farmers
checked
.
indicate that further deterioration in the
Aug. 8, 1936
small and
during the past
reported marketing sparingly.
Specu¬
lators, therefore, foresee the development of a possible
squeeze in this contract next month.
On the 4th inst. prices
closed 2% to 4*6c. down.
This violent break in values was
due to reports of unexpected rains in many drought stricken
areas of the corn belt, which
may yet do much in saving
substantial portions of the crop from further deterioration,
especially in the State of Iowa.
There was an avalanche of
selling and for a time it looked like a stampede to the selling
side.
The heavy precipitous break gave a clear indication
of the over-bought condition of the market and how much
conditions have been discounted in the recent violent rise of
all grains.. On the wide-open breaks, however,
heavy buying
orders pulled the market up with a jerk.
But after these
demands were supplied, fresh waves of selling ensued and
prices again broke violently.
Corn closed at the lows of
the day with the exception of the September
delivery, which
closed up a cent from the low price of the day but 3c. down
from last night's close.
On the 5th inst. prices closed l*£c.
off to %c. up.
Although corn was down as much as 3*£c.
during the session as a result of heavy pressure in the form
of stop loss selling, a sharp turnabout movement
developed
later, influenced by the pronounced strength in wheat.
In
this sharp rally prices recovered all the early losses and closed
strong.
The chief influence in the early setback of corn
prices was the belief that the recent rains had effectively
are
feed
poor
to have
good.
corn
ing in Canada is spreading prematurely by as much as four
weeks because of early ripening as a result of hot weather.
in
confronts
crop
the
country because of
did much to strengthen
prospect
bullish sentiment.
Further serious deterioration to the Dominion's
the part of
on
while
shipping de¬
Secretary Wallace's opinion that a
situation
new
spent itself,
Today prices closed iy2 to 2%c. down.
the
close
rallied about 2c. from
Today prices closed 2%
wheat
harvest
under
the
to 2%c.
way
and
With
conditions
to
selling of wheat futures at Winnipeg
American
interests.
There
was
little of
mand for Canadian wheat at the moment.
of
was
was
considering lowering the tariff on corn im¬
These influences could readily account for the recent
heavy liquidation of corn.
The open interest in corn was
34,464,000 bushels.
DAILY
ascribed
export
de¬
n
The early break
than 2c. in Chicago wheat
prices today followed
abrupt setback of Liverpool quotations.
Open interest
in wheat was 89,799,000 bushels.
more
„
PRICES
DAILY
129% 130%
-
CLOSING
PRICES
OF
WHEAT
Sat.
September
December
May
_
Season's High and When
September
114%
December
115
May-
116
DAILY
CLOSING
Aug.
Aug.
Aug.
PRICES
OF
'
.
December--.
-
—
-
-
Tues.
127%
NEW
Wed.
128% 127%
Tues.
i
-
104%
125%
122%
107% 107%
105% 105%
107% 107%
recovered
no
on a
moisture
fresh
over
of buying.
The corn
week-end, and no really
wave
the
optimistic reports concerning the weather for the next taw
days were forthcoming.
Supplies of corn as grain in terminal
99
closed
in all
Thurs.
Fri
126%
124%
Aug.
Aug.
Aug.
109
106
98%
97%
106%
94%
92%
94%
93%
106%
94%
92%
104%
93
90%
Season's Lou- and When Made
September
56%
June
2,1936
December
52%
June
2,1936
3,1936
3, 1936
3, 1936 May
85%
July 29, 1936
to 2*6c.
private
up.
crop
l1^ to 2*6c. off.
There
was
prices
nothing in particular
grains^ especially
general declines
and bearish weather reports.
5th inst. prices closed
unchanged to *6c. higher.
There was very little of interest in this
grain, attention being
centered almost
entirely in wheat and corn.
On
corn,
the
On the 6th inst. prices Closed
% to %c. down.
rather liberal, influenced by the weakness
,
were
YORK
Wed.
to account for these declines outside of
the
wrere
an
losses
NEW
report were the influences responsible for the
strength in
oats.
The pronounced strength in corn was not
without its
effect also.
On the 3d inst. prices closed
%c. to *6c. higher.
This firmness was regarded as
entirely due to the upward
movement in the other
grains.
On the 4th inst.
'Corn—On the 1st inst. prices closed 3 to 4c.
higher*" The
chief influence in this upswing was the official forecast for
the coming week, which indicated another
period of dry
weather over the corn belt which could
belt received
IN
Tues.
Oats—On the 1st inst. prices closed
l^c.
The pessimistic weather news and a bullish
104
101%
103%
very seriously lower
already drastically deficient corn crop.
Another contrib¬
uting factor to the pronounced strength of this grain was the
Miller-Bennett corn crop estimate.
This report indicates a
total production of corn and oats a billion bushels under
1935.
According to this report, the total oat crop will prove
about 340,000,000 bushels below a year ago.
The estimated
corn loss is placed at 700,000,000
bushels, and further reduc¬
tions are certain in view of the predicted rainless weather.
Greater appiehension is developing over the feed
grain
situation than that of bread grains.
The highest prices in
11 years are asked for spot corn, and futures are
selling at
the highest level in six years.
On the 3d inst. prices closed
1 to 3^c. up.
The news generally was bullish but on the
upward swing of prices a heavy wave of realizing was en¬
countered which resulted in a drop from the
highs of approxi¬
mately 3c. a bushel.
Later, a substantial portion of these
109%
99%
December
IN CHICAGO
Wed.
Thurs.
Fri.
105%
97%
96%
Season's High and When Made
May
124%
FUTURES IN WINNIPEG
Mon.
Tues.
Wed.
Thurs.
Fri.
103% 107%
102% 106%
-104 % 108%
—
September
FUTURES
Mon.
-----
MaX-
YORK
Thurs.
Fri.
CORN
.
December
WHEAT
Sat.
-------
IN
OF
Sat. Mon.
„
H-123% 127% 124% 126%
September...
112% 113% 110% 113% 113% 111%
113 % 114% 111% 114
113% 110%
114% 114% 112% 114
112% 110%
Made
I
Season's Low and When Made
6, 1936 (September
82%
Apr.
3, 1936
3, 19361 December85
May 28, 1936
3, 1936|May__-__-___l08%
July 29, 1936
October.
May
WHEAT
Sat. Mon.
i
^
No. 2 red—
OP
„
DAILY CLOSING PRICES OF CORN
FUTURES IN CHICAGO
Sat. Mon.
Tues.
Wed.
Thurs. Fri.
•
CLOSING
\
CLOSING PRICES
No. 2 yellow
an
DAILY
recent rains
ports.
——
no
The
belt have been in
ernment
Canada's
for
harvesting
reported generally favorable, wheat prices receded sharply
today, both in the early and latter part of the session.
Much
corn
measure
lows.
down.
substantial portions of the
a large
responsible for the rather sharp setback in prices.
Added to these rather bearish weather
reports were' the
advices from Washington,
though unofficial, that the gov¬
crqp, there¬
fore, is unlikely, leaving the trade with expectations of a
crop of around 200,000,000 bushels.
Wheat prices towards
grains, especially
wheat.
does
any
not
warrant
situation
little of
interest
connected
DAILY CLOSING PRICES
_
—
_
.
:
_
CLOSING PRICES
OF
42%
44%
46%
December
—
Season's High and When Made
September
December
May.
with
this
OATS
OATS
Sat.
.
September
May
OF
IN
in
other
situation
oats, the feed
44%
46%
48%
Aug.
Aug.
Aug.
market.
NEW
Sal. Mon. Tues.
54%
55%
54
..
No. 2 white
DAILY
presfent
weakness in
being quite serious, as pointed out by Secretary
Today prices closed % to lV2c. down.
There was
Wallace.
very
However, the
marked
Offerings
Tues.
43%
45%
47%
Thurs.
54%
FUTURES
Mon.
YORK
Wed.
.
IN
Wed.
42%
44
45%
Thurs.
42%
44%
45%
Fri.
54%
53%
CHICAGO
42%
43%
Fri.
42
43
45
43%
Season's Low and When Made
25%
June
2, 1936
3, 1936 September
3,1936 December
3, 1936 May
26%
May 27, 1936
40%
July 29, 1936
DAILY CLOSING PRICES OF OATS
FUTURES IN WINNIPEG
Sat. Mon. Tues.
Wed.
Thurs. Fri.
October
_
,
,
December
46%
44%
49
46%
47%
45%
48%
48%
46%
47
46%
45
Ry e—On the 1st inst. prices closed 1*£ to 2c.
up.
This
was
largely in sympathy with the other grains.
On the
rise
Financial
Volume' 143
Chronicle
3d inst. prices closed 2
up.
for this strength of
rye, it
949
The destination of these exports for
July 1, 1936, is as below:
There was no news to account
apparently going upward, in
sympathy with wheat and corn.
On the 4th inst. prices
.
closed
l^c. to l%e. down. These declines were in sym¬
pathy with the sharp downward trend in wheat and corn
a result of
unexpected rains reported in important areas
of the grain belt.
On the 5th inst. prices closed lk£c. to
1 %c. up.
This was largely in sympathy with the pronounced
strength in wheat and corn.
A heavy domestic demand for
Exports for Week
and Since
delivery
of this
be published
DAILY
the
1936
Barrels
Bushels
44,020
PRICES
OF
RYE
82%
81%
81 %
84
83%
83%
80%
81%
82%
82%
815*
81%
OF
September
May
RYE
FUTURES
Mon.
67
•
Tues.
70
67%
PRICES
49%
55%
77%
December
Sat.
October
CLOSING
kiooo
27"000
2,739,000
1,759,000
12,953,000
5,475,000
30,000
...
69%
Sat.
Mon.
72%
73%
December
75
76
May
June
Aug.
IN
visible
supply
58%
56%
-
October.
79
78%
77%
New. York
"
No. 2 yellow, all rail
1,019,000
4,000
400,000
3,182,000
1,675,000
5,416,000
1,960,000
18,037,000
5,745,000
632,000
4,438,000
1,808,000
Galveston
Wichita.
-
Hutchinson
65%
65%
St. Joseph
Kansas City
Omaha
Sioux City
St. Louis
78%
77
77
77%
49,000
Fort Worth
Fri.
68%
67%
59%
57%
61
58%
Indianapolis
Peoria
108,000
Milwaukee
..
875,000
737,000
5,142,000
*2,635,000
170,000
3,353,000
...
Minneapolis
Duluth-.
Buffalo
44
afloat
2 white
...
Coarse
Fancy
the
stocks in
lake and
Oats
Rye
Bushels
Barley
Bushels
Bushels
105,000
103,000
8,000
5,000
57,000
14l",666
215" 000
115,000
311,000
293,000
29,000
290,000
243", 000
~~6~6oo
246,000
38,000
36,000
10,066
17,000
33,000
1,000
3,000
23,000
7,000
115,000
10,000
2,000
87,000
117,000
59,000
1,000
12,000
-
463,000
9,000
1,327,000
348,000
39,000
,854,000
,111,000
241,000
945,000
6,000
31,000
150,000
53,000
405,000
10,000
8 ,389,000
1,690,000
840,000
386~66O
~3~4~666
416,000
47,000 14 495,000
85,000
6 ,507,000
7,000
10,000
530,000
597,000
1,946,000
1,623,000
8,000
469,000
3,807,000
4,664,000 38,846,000
6,009,000
4,617,000 33,638,000
6,280,000
6,928,000
6,239,000
6,884,000
7,011,000
6,867,000
3,675,000
130,000
256,000
96,000
988,000
65,000
282,000
67,000
25~666
53%
7.70@8.001 Rye flour patents
5.40(^5.50
7.25@7.50'Seminola, bbl., Nos. 1-3.10 15@
6.05@6.35IOats, good
3.25
5 55@6.001 Corn flour
3.10
6.40( >6.70 Barley goods—
6.55 ( >6.85
998,000
On Canal
New York—
Total Aug.
1, 1936..
Total July 25, 1936..
Total Aug.
3, 1935..
Rye. No. 2, f.o.b. bond N. Y_. 74%
Barley, New York—
47% lbs, malting
86%
Chicago, cash
100-125
124 %
8,448,000
Detroit
5.60 ( >5.85
,
.
Chicago.
On Lakes
60
57%
60%
58%
Bushels
5~49~666
New Orleans
IN CHICAGO
Wed.
Thurs.
Fri.
75%
75%
1
Baltimore
FLOUR
-
1,000
comprising
Corn
.
afloat
4, 1936
3, 1936
7, 1936
Thurs.
68%
68%
75%
76%
60%
58%
Oats.
No
Corn, New York—
Hard winter pa
patent*
Hard winter clearr
1,000
5,000
41
GRAIN
Wheat, New York—
No. 2 red, c.i.f., domestic
124%
Manitoba No. l.f.o.b
N.Y.112%
grain,
Bushels
Philadelphia
follows:
were as
of
Wheat
United States--—
Boston
OF BARLEY FUTURES IN WINNIPEG
Sat: Mon. Tues.
Wed.
Thurs.
Fri.
i
Spring pats.,high protein
Spring patents.
Clears, first spring
Soft winter straight*
Hard winter stra gh s...
1,000
•
____
DAILY CLOSING PRICES
v
f--—-
~
at principal points of accumulation at
seaboard ports Saturday, Aug. 1, were as follows:
WINNIPEG
Wed.
66%
66%
Tues.
May.
Closing quotations
5,312,000
37,000
3,000
'
granary
BARLEY FUTURES
OF
September..
July.1
Bushels
7,574,000
584,895
343,086
The
Season's Low and When Made
3, 1936
4, 1936
4, 1936
DAILY CLOSING PRICES
December
1936
Bushels
Bushels
"4^066
—
Fri.
Thurs.
80%
81 %
_
May
1936
GRAIN STOCKS
Wed.
Tues.
83%
Season's High and When Made
Aug.
Aug.
Aug.
Since
July 1
Aug. 1
1936"
Total 1936.....
106,070
Total 1935..
87,216
CHICAGO
IN
FUTURES
Mon.
80%
83%
83%
July 1
was
September
December
Week
1,414,000
1,310,000
11,000
1,000
tomorrow, Saturday.
December—
May
Since
249,576
68,074
89,000
157,000
1,000
20,245
10,050
18,000
West Indies
Brit. No. Am. Col.
Other countries..
The
weakness.
pronounced
Sat.
DAILY
Aug. 1
1936
Kingdom.
Continent
closed % to l%c. down, the May
most
grain
CLOSING
September
July 1
United
largely influenced by the pro¬
nounced weakness of the other grains.
There appeared to
be a general disposition in all
grain markets to even up over
the week-end, especially in view of a
government report
to
Aug. 1
Barrels
heaviness of this grain was attributed largely to the heavi¬
ness of wheat.
Today prices closed 2% to 4c. down.
The
weakness
Week
So. & Cent. Amer.
inst. prices
showing
Since
1936
flour also had its effect.
6th
Week
July 1 to—
as
On the
Corn
Wheat
Flour
,
the week and since
*
Duluth includes
67,380,000
59,836,000
34,732,000
47,000 bushels feed wheat.
Note—Bonded grain not included above: Oats, on canal, .31,000 bushels:
total,
31,000 bushels, against none in 1935.
Barley, Duluth, 389,000; total, 389,000
bushels, against 460,000 bushels in 1935.
Wheat, New York, 743,000 bushels;
afloat, 179,000; Albany, 4,290,000; Erie, 1,888,000; Buffalo, 7,931,000; Buffalo
afloat, 243,000: Duluth, 3,903,000" Chicago, 100,000; on Lakes, 335,000Canal,
1,032,000: total, 20,644,000 bushels, against 10,066,000 bushels in 1935.
3 40
«*
pearl,Nos.2.4"&7 4.6*5@4.90
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
of the last three years:
Wheat
Corn
Oats
Rye
Barley
Bushels
Canadian—
Montreal.......
Bushels
Bushels
Bushels
Bushels
146,000
1,349,000
1,268,000
7,720,000
25,524,000
1,613,000
26,004,000
1,482,000
242,000
334,000
59,248,000
63.690,000
1,737,000
1,770,000
2,666,000
1,910,000
,.125,011,000
3,578,000
3,479.000
4,343,000
67,380,000
59,248,000
4,664,000 38,846,000
3,578,000
6,009,000
1,737,000
7,011,000
Total Aug. 1, 1936...126,628,000
Total July 25, 1936
123,526,000
Total Aug.
3, 1935
159,743,000
4,664,000 42,424,000
4,617,000 37,117,000
6,280,000 11,271,000
7,746,000
8,009,000
9,550,000
8,921,000
8,610,000
5,602,000
Ft. William & Pt. Arthur
Other Canadian
Total Aug. 1, 1936
Total July 25, 1936
Total Aug.
308,000
& other
water points
,
483,000
3, 1935
1,743,000
1,927,000
Summary—
Receipts at—
Flour
Wheat
Corn
Oats
Rye
Barley
American
„•
Canadian
bbls. 19616s. lbush. 60 lbs
Chicago
221,000
Minneapolis..
Duluth—
2,503,000
21,000
Indianapolis.,
120,000
13,000
46, 000
12,000
38 000
29~666
548 000
32,000
Kansas City..
1,228,000
44,000
20,000
Peoria-
3,463,000
217,000
1,531,000
w..
St. Joseph...
Wichita
179 000
257,000
1,541,000
184,000
.
424,000
7,000
42,000
The world's
Same
wk.
'35
Same
uc
wk.
WK,
'34
at
Qdl.UUU
331,000
5,000
29", 000
83,000
shown in the
3,000
45,000
22,000
32,000
8, 000
47, 000
492, 000
Wheat
489,000
18,341,000
17,473,000
4,364,000' 9,216, 000
1,727,000; -1,577, 000
ll.XOO.UUU
11,166,000
l.gpl.UUU
1,851,000
tvaa.UUU
643, 000
4,000
739,000
501,000;
Uo.UUU
93,000
2,634,000
764,000
620,000
OiJU.UOU
Week
Since
Since
Week
Since
Since
Exports—
July 31
July 1
July 1
July 31
July 1
July 1
1936
1935
1936
1936
Bushels
Bushels
Bushels
Bushels
Black Sea...
Argentina.
Australia
__
...
Oth. countr's
Flour
Wheat
Corn
Oats
Rye
.
122,000
29,000
18,000
20,000
.
Baltimore
New Orleans *
"4" 000
20,000
12" 000
18,000
14,000
20,000
'
9,000
75.666
1,474,000
99,000
80,000
Week 1935...
Since Jan.1'35
~5~66o
4"O"666
"i~6O6
573; 000
Sorel
273,000
8,821,000
2,717,000'
38,000'
107,000
67,720,000)
2,600,000
4,367,000
89,000
2,558,000
200,000
7,236,000
661,000
24,416,000
451,000'
9,717,000
108,000
9,622,000
3,824,000
1,000
46,000
3,129,000
2,000
1,991,000
*
on
Receipts do not include grain passing through New Orleans for
foreign ports
through bills of lading. ■
The exports from the several seaboard
ports for the week
Saturday, Aug. 1, 1936, are shown in the annexed
ended
statement:
Exports from—
New York
Wheat
Corn
Flour
Oats
Rye
Barley
Bushels
Albany
Bushels
Barrels
Bushels
Bushels
Bushels
'
425,000
168,000
New Orleans
Montreal
Sorel
Quebec
Tot.wk.Aug. 1, '36
Same week 1935
21,575,000
2,008,000
5,397,000
4,163,000
10,953,000
656,000
392:666
11,435,000
5,432,000
8,961,000
Bushels
1,000
1,000
2,934,000
23,615,000
32,715,000
l,999i,000
7,919,000
200,000
2,968,000
3,84"o;666
358:600 VT,464,666
1,735:606
36,311,000
34,803,000
6,182,000' 27.954.0001
36,450,000
'
'
32^ 000
Boston
1,446,000
1,211,000
104,000
768,000
Barley
79,000
~5~2~666
Quebec...
4,696,000
736,000
Bushels
141,000
167,000
166,000
Galveston....
Montreal
1935
\
North Amer.
bbls.\95lbs. bush. 60 lbs. bush. 56 lbs. bush. 32 lbs. bush.56lbs.
bushA8lbs.
'36
Corn
Exports
Total
wk.
are
following:
97 000
40^666
July 1, 1935,
India...
Since Jan. 1*36
furnished by
34,000
receipts of flour and grain at the seaboard ports for
week ended Saturday. Aug. D 1936, follow:
Receipts at—
Total
corn, as
112 000
234, 000
1,261, 000
Total
Philadelphia
shipment of wheat and
1936
'36
New York
1,910,000
458, 000
680,000
112,000
3,528,000
426,000
340,000
e
......
Broomhall to the New York Produce
Exchange, for the week
ended July 31, and since July 1, 1936, and
413,000
Sioux City...
Buffalo
Total wk.
138, 000
628,000
St. Louis
Omaha
371,000
236,000
362,000
338,000
492,000
381,000
357,000
1,267,000
136,000
...
Detroit
2,283, 000
3,275, 000
3,000
332,000
....
bush. 32 lbs. bush.56lbs. bushA8lbs.
1,474,000
146,000
45,000
158,000
47,000
2,147,000
156,000
...
Milwaukee...
Toledo
bush. 56 lbs
51,070
------
1,47A000
573,000
99,000
52,000
2,739,000
106,070
87,216
1,759,000
14"666
"3" 000
75^666
80"666
4O"66O
Weather Report for the Week Ended
Aug. 4—The
general summary of the weather bulletin issued by the
Department of Agriculture, indicating the influence of the
weather for the week ended Aug. 4, follows:
Temperatures for the week averaged much lower than during the preced¬
ing week, though they were still abnormally high in Northern States west
of the Lake region and upper, Mississippi Valley.
In the northern Plains
the weekly means were 6 degrees to 8 degrees above normal.
Moderately
cool weather for the season prevailed in Gulf sections and middle and south
Atlantic areas, though in the Southeast part of the week was
abnormally
warm.
Rainfall was
Rocky Mountains.
While the cooler weather of the past week was a great relief to animal
as compared with the preceding heated conditions in the interior
sections of the country, crops and pasture lands received little or no
benefit,
except in very limited areas.
In fact, there was nearly an entire absence
of precipitation over the entire area between the Appalachian and
life,
Rocky
On
Mountains and droughty conditions were intensified rather
generally.
the western fringe or the drought area there were some beneficial rains in
limited areas, principally in the western portions of Kansas and Nebraska
and adjoining sections to the west; a considerable part of northern Mon¬
tana
ment
had helpful showers.
In these areas the situation shows improve¬
and the outlook is better, but over the interior and North-Central
States conditions
Rains in
75,000
140,000
80,000
136,000
54,000
74,000
heavy and frequent in the Southeastern States, especially
in Georgia, and there was some substantial rain in western
Kansas, western
Nebraska, and central-northern Montana.
Otherwise, tbere was very
little rainfall in Central and Northern States between the
Applachian and
the
gradually became worse.
were decidedly helpful,
Southeast
especially from
South
Carolina to Alabama.
All Southern States now have a favorable outlook.
In the north Atlantic area a practically rainless week has intensified
drough¬
ty conditions in New England, except in the extreme north, New York,
and much of Pennsylvania, though more than half of the latter State had
good rains; New York,
especially, needs moisture, and parts
Kentucky—Louisville:
of Virginia
substantial in most sections, have greatly improved the
situation in practically all Rocky Mountain sections and the eastern Great
Basin, with the exception of northwestern Wyoming, which is still unre¬
lieved and where conditions are serious.
Northern Arizona, parts of New
Mexico, eastern Colorado, southern and eastern Utah and southeasterh
Idaho, were especially favored, and ranges are showing improvement.
Small Grains—In Minnesota the harvesting of small grains progressed
Timely rains,
rapidly and there was
scattered threshing in South Dakota,
for hay or pastured.
harvesting in the Pacific
proved; very spotted, poor to
but very light
New York,
Northwest.
is
tas-
general, damage is extremely heavy. In Missouri deterioration
to be greater than in 1934, with much cut for current feed¬
ing or silage.
In the Plains States corn lost further ground during the
week- the present prospect is for a very small percentage to make even a
fair yield of grain.
In Wisconsin corn is mostly poor, while in Minne¬
sota it is firing badly on uplands and light soil
In Iowa where July was extremely hot, and the drought is now the most
severe in 64 years, damage is much greater than in 1934, and probably
about equal to that of 1894; it will increase daily until substantial rains
occur
In some 40 southern and western counties destruction is about
complete, except for a little poor fodder, and even in the best areas only a
little more than half a crop remains at this time, with many stalks bare
and ears showing only scattered kernels because of poor pollination.
in
and
appears
now
Cotton—In the Cotton Belt temperatures for the week averaged near
normal—slightly below in most sections.
Rainfall was heavy in the eastern
there was little or no rain from the Mississippi Valley
westward
The weather was generally favorable for the cotton crop, except
for some damage by heavy rains locally in the southeast and for continued
unfavorable dryness in the northwestern belt, principally Oklahoma.
In Texas the week was very favorable throughout, with deterioration
in lower coast comities apparently ended; picking made rapid progress in
the southern portion.
In Oklahoma and some western uplands of Arkan¬
sas
unfavorable dryness continued, with progress slow and some deter¬
ioration.
Plants are sm:ll and there is some fruiting at the top; the first
bale has been marketed in Oklahoma.
„
third of the belt, but
From the
by heavy rains in Georgia and Alabama.
helpful over a large southeastern area.
The
-
favora¬
damage
Moisture of the week was very
Mississippi Valley eastward conditions are generally
of cotton was satisfactory, except for some local
and progress
ble
Weather Bureau
furnished the following resume of
conditions in the different States:
Virginia—Richmond: Temperatures 2 degrees subnormal; light rains;
semi-drought conditions continue in many sections. Cotton averages fair.
Most corn poor on high ground; fair to excellent on low.
Threshing oats and
wheat practically completed.
Meadows and pastures short. Peanuts fair
to good.
Tobacco excellent, some ready for curing, some damaged by
hail.
Southwestern truck deteriorating; southeastern excellent.
North Carolina—Raleigh: Hot at beginning and cool middle of week with
heavy to excessive rains ininterior, which delayed work and caused consid¬
erable crop damage by washing land and flooding Neuse River and many
smaller streams.
Some hail and wind damage, but more than offset by gen¬
erally good growth, especially in west where decided improvement of corn
and hay crops.
Progress of cotton fairly good, though too wet some parts.
South Carolina—Colombia: Damageing hot, dry weather first of week,
followed by cooler and rains.
Favorable for reviving all crops. Corn,
peanuts, peas, cane, truck, gardens and pastures much improved since
rains; condition mostly good, though late, except early corn poor to good.
Previous heat and drought caused considerable shedding, but cotton pro¬
gress
and fruiting now very
good, though early planted stands average
rather poor.
Georgia—Atlanta: Hot
and dry at beginning, followed by cool, with
at close favorable for weevil.
possibly too late in few central
to corn in southwest. Pastures
and growing crops greatly benefited by rains, especially late corn, sweet
potatoes and peanuts.
Tobacco market opening today.
Florida—Jacksonville: Warm; moderate rains.
Condition of cotton fair;
progress fairly good; bolls opening and picking making fair progress.
Corn
and sweet potatoes good.
Citrus excellent; fruit good size. Considerable
heavy rains throughout State.
Weather
Progress of cotton mostly good, but rains
counties.
Moderate wind and rain damage
storm damage
Okaloosa counties.
Considerable rain. Progress of cotton very
in Walton and
Alabama—Montgomery:
southeast; condition now fairly
truck and pastures much im¬
satisfactory, except for consider¬
good, except considerable storm damage in
good to very good.
Corn, cane, peanuts,
proved and condition of all crops very
able damage by wind and rain.
TRADE
Friday Night, Aug. 7,
1936
Although weather conditions were not uniformly favorable,
retail trade continued to make a good showing, except in the
.
Corn—The corn crop
yond complete recovery.
In Illinois, where about four-fifths
now
seled much corn is burned, with ears forming small and poorly filled or
stalks barren; in some drier localities, the crop is being cut for fodder
partly re¬
good
fair in north.
THE DRY GOODS
The weather was favorable for
continues to deteriorate throughouut the interior
of the country, except in very limited areas, principally in the Ohio Valley.
"WJbile temperatures were lower during the past week, the Corn Belt re¬
ceived practically no rain and droughty conditions were intensified.
In Ohio progress was fair to good in the northern half of the State, but*
poor to only fair in the south, while in Kentucky there was little or no
improvement in the north, but in the south late corn made fairly good
advance
In Indiana the late crop shows some improvement in sections
where rain occurred last week, but elsewhere deterioration continued, with
a considerable part of the early crop ruined and most of the late corn be¬
in south where grow¬
genial;
completely
much
gelds Some yields disappointing, but generallyin limited ateasthatNorth
akota, with spring wheat is being harvested
small grains in in State
have been either cut
Scattered showers, heavy
1936
ing conditions generally good.
All crops improving; pastures
stored.
Progress of late and medium-late corn mostly fair to very
in south and deteriorated to poor in north-central and northwest where
extremely variable; tasseling and silking of late became more
still hope for latest corn in dry northern districts; early not
filled, even in best fields.
Tobacco fair to good in south where
im¬
still dry.
are
Aug. 8,
Chronicle
Financial
950
.
drought regions where buying fell off materially. Summer
merchandise again had the chief call, but a growing interest
was attracted by August promotions of furs, cloth coats and
similar classes of goods. In the local area increases, in volume
corresponding week of 1935 were estimated at from
15% while in other sections gains as high as 25% were
forecast.
For the entire month of July sales of department
over
the
10 to
are expected to show increases averaging 15 %.
During
August a narrowing down of sales gains over the correspond¬
ing 1935 period is anticipated by some observers, inasmuch
as retail trade at this time last year recorded a sharp upturn.
stores
•
Trading in the wholesale dry goods markets continued
although the peak of the buying movement appeared
active
passed, and the recent reaction in raw cotton prices
slow up business in some lines.
Prices of
goods remained firm, however, and further moderate
advances were announced. The delivery situation continued
to have
also
served to
finished
before, and delays in shipments ranging from one
were reported.
Main support to the whole¬
sale market came again from retail merchants, with indica¬
tions that inventories in some lines need replenishment rather
as
tight
to three
as
months
While the bulk of the buying included women's and
apparel lines, much interest was also shown in
dry goods staples, house furnishings and men's and boys'
clothing. Business in silk goods was quiet, but prices showed
a stiffening trend,
in line with the higher quotations pre¬
vailing on the raw silk market. Interest of garment manu¬
facturers centered in the more expensive types while popular-
badly.
children's
priced lines continued to suffer from the competition of
synthetic products. Trading in rayon yarns was thrown into
some confusion owing to
the decision of one of the large
producers to discontinue quantity discounts, in order to
compliance with the provisions of the RobinsonPatman Act.
Other producers were undecided whether to
follow suit, and as a consequence the opening of books for
October delivery was delayed. The statistical position of the
market continued very strong, with authentic reports that
the available supply of unsold popular yarns was approaching
the vanishing point and that many producers were finding
assure
themselves oversold.
•
Goods—Trading in gray cloths re¬
mained at a virtual standstill, with buyers awaiting the
release of the Government crop report on Saturday before
Domestic
Cotton
re-entering the market.
Prices, however, continue steady,
barring a few small offerings by second hands at slight con¬
cessions.
Mills are not eager to press goods On the market,
in view of their still substantial backlog of orders.
On the
reported to be in need of additional
quantities of cloths, inasmuch as sales of finished goods are
holding up very well, with the tight deliyery situation show¬
ing no signs of loosening up. Little doubt is felt that once
"Mhe Government crop report is out of the way, a broad
revival in trading will occur, irrespective of whether a bullish
or
bearish interpretation will be placed on the report.
Trading in sheetings was fairly active, with prices stiffening
on a few constructions.
Business in fine goods continued
other hand, buyers are
with frequent rains made cotton
weevil activity and leaf-worm infesta¬
condition fairly good to very good
with few bolls reported opening throughout.
Progress of late-planted corn
fair to very good, and of gardens and pastures generally good.
fairly active although resistance to recent price advances
Louisiana—New Orleans: Generally favorable except too cool middle
appeared to be growing.
Better interest developed in
of week.
Progress of cotton fair; condition generally good; opening in
combed pongee, combed piques and some of the poplins.
many places; moderately favorable for weevil activity; some complaints of
army worms; local shedding due to winds middle of week; first bale ginned.
Closing prices in print cloths were as follows: 39-inch 80s,
Late corn, rice, cane, sweet potatoes, and miscellaneous crops generally
8 to 8He.; 39-inch 72-76s, 7% to 7%c.\ 39-inch 68-72s,
good.
Some harvesting of rice, early corn and sweet potatoes.
Texas—Houston: Warmer than normal over Panhandle; normal or be¬
7to 7c.; 381^-inch 64-60s, 6c.; BS^-inch 60-48s, 5% to
low elsewhere; rain widely scattered.
Winter wheat harvest about com¬
5Mc.
pleted in extreme northwest.
Corn made and average condition fair to
good though some locally poor on coastal plain and in northeast.
Cattle
Woolen Goods—Trading in men's wear fabrics continued
generally good, though ranges drying locally.
Truck mostly fair to good;
citrus good to
excellent, though needing rain.
Favorable for cotton
seasonally dull. With the volume of unfilled orders having
throughout State and general condition now good.
Dry weather caused
been cut materially during the last few weeks, a number of
rapid maturing, especially in extreme south where there is little foilageand sunshine was of maximum benefit; deterioration in lower coast re¬
mills proceeded to curtail operations in this division.
Prices
gions has apparently ceased and conditions are much better than previously
in general held steady, however, as it was felt that buying
indicated.
Picking advanced rapidly in extreme south and ginning in
of the new spring lines would soon start in earnest. Reports
that area at maximum capacity during week; farther north scattered pick¬
ing going on; first bale in north Texas marketed at Honey Grove, Fannin
from retail clothing centers made a satisfactory showing,
County, on July 30.
with merchants' stocks, notably in the popular price brackets,
Oklahoma—Oklahoma City: Another unfavorable week; rain very local
and no material benefit.
Grasshoppers still active and damageing in many
said to be in need of replenishment.
Business in women's
Mississippi—Vicksburg; Cool nights
progress somewhat poor, favoring
tion in occasional localities; prevailing
localities.
ing
no
Progress of cotton poor,
with some plants very small and mak¬
growth; much top blooms; some opening in south; first bale marketed
County.
Corn deteriorating; condition of early poor
this week in Jefferson
complete failure on account of drought and
grasshoppers; much cut for fodder.
Feed crops very poor; pastures burnt
and poorest of record.
Alfalfa and hay very poor; some cut, yield and
quality very poor.
Stock water scarce in all sections; many wells and
springs failing.
Livestock holding up fairly well, but losing some weight.
Practically no plowing; stubble being used for grazing.
Arkansas—Little Rock: Progress of cotton good to excellent, except in
greater portion of highlands where too dry; leaf worms reported in 12
counties in central and south central portions; blooming at top or ceased
blooming in some portions of hills, but blooming and boiling elsewhere;
condition good to excellent in important growing sections.
Corn poor in
northwest, fair in remainder of hills; very good in lowlands.
Other crops
poor or destroyed in most of hills; fair to very good elsewhere.
to
only fair, but late almost
Tennessee—Nashville: Progress and
needs rain in considerable areas,
condition of corn mostly very good;
Progress of cotton
principally in west.
fairly good; cool nights unfavorable; condition fairly good to very good;
bolls forming rapidly, but considerable late.
Tobacco made good progress;
much late; condition poor to good. Alfalfa, lespedeza, and all hay very good
in moist areas; fair in others.
Truck and vegetables greatly improved,
except wher getting dry.
1
goods continued to give a good account, and increased
buying by manufacturers and wholesalers of both staple and
fancy dress goods was reported, reflective of the steady
consumer demand for all classes of women's apparel.
wear
Foreign Dry Goods—Trading in linens remained quiet
although slightly more interest in household items was noted.
Reports from foreign primary markets indicated a somewhat
steadier trend, largely due to better demand from abroad
for yarns of all descriptions.
Business in burlap was fairly
active, with bag manufacturers against contracting for a
moderate volume of goods, against requirements for the crop
movement.
Prices ruled slightly easier, under the influence
of Calcutta advices concerning an increase in mill working
hours from 50 to 54 per week.
Domestically lightweights
were quoted at 4.05c., heavies at 5.40c.
Volume
Financial
143
Chronicle
951
MUNICIPAL BOND SALES IN JULY
The chief feature of the State and
during the month of July
offered for sale.
in
the
municipal bond market
the marked scarcity of issues
was
This condition, also present to some extent
previous month,
month just ended
was
strikingly
pronounced in the
with the result that the total of bonds
sold in July, at $41,910,168, is the smallest for
any month
of the present year and,
moreover, constitutes the
poorest
output for any month since October, 1934.
June
of
the
present
year
was
The total for
$109,096,333.
The
sharp
diminution in the volume of
offerings in July was made in
the face of an apparent continued demand for
municipal
liens
as
investments.
There
was,
however,
slight tem¬
a
porary decline in prices following announcement by the
Federal Reserve Board of the
pending increase in the reserve
requirements of member banks.
According to present indi¬
cations, it is unlikely that municipal financing during August
will show any great improvement in
point of volume over the
record for last month.
The issues of
are
Unusually heavy temporary financing by the City of New
York
responsible for the principal portion of the rather
large amount of interim borrowing credited to States ancl
municipalities during July.
The month's total of $98,was
294,000 includes $82,150,000 contributed
by New York City.
The bulk of the city's
financing, however, consisted of the
extension
of
standing.
the
maturity date
There
was a
credits, following
in the
announcement of the
or
marketed
more
during July'
listed herewith:
sale
July 31 of $30,000,000 Treasury bills, succeeded in
on
the current level
United
of 1951
and 1952, and at 100.50 for
subsequent maturities.
2,500,000 Delaware River Joint Toll Bridge
Commission, N. J.,
Easton-Phillipsburg Bridge revenue bonds, bearing
4M%
interest and due Aug. 1, 1961, sold
privately to B. J. Van
lngen & Co., Inc., of New York, and associates.
Publicly
offered at 101 and accrued
interest, to yield 4.18%.
2,232,000 St. Charles County, Mo.,
sold
of
privately to
St.
Louis.
toll bridge
bonds
revenue
by Stifel, Nicolaus & Co.
July 15, 1956, and redeemable on
any
on 30 days' notice at
par.
Placed on the market
98.50 and accrued interest.
interest date
at
2,000,000 Providence, R. I., 3% school bonds sold to
the Bank of the
Manhattan Co. and Ladenburg, Thalmann
& Co., both of
New York, jointly, at
110.447, a basis of about 2.35%.
Due
$100,000 annually from 1946 to 1965 incl.
•
1,500,000 Minnesota (State of), 1.85% Rural Credit
certificates, due
Aug. 1, 1941, awarded to an account
managed by Brown
Harriman & Co., Inc., of New
York, at 100.06, a basis of
about 1.835%.
Reoffered at a price of 100.75, to
yield 1.70%
to maturity.
1,500,000 South
Carolina
(State of), highway certificates of
in¬
debtedness sold to a group headed
by the Chemical Bank &
Trust Co. of New York on a bid of
100.13 for 2%s, a basis
of about 2.48%.
Due $150,000 each year from
1940 to
1949 inch
1,110,000 Buchanan County, Mo., 3% refunding bonds
sold to Brown
Harriman & Co., Inc., of New
York, and associates, and
reoffered for general investment at
prices to yield from 2.10%
to 2.75%, according to
maturity.
Due serially from 1943
to
1956 incl.
States
Possession
1936
financing
1935
s
Perm't loans (U. S.)
♦Temp, loans (U.S.)
Can. loans
from
1961 to 1976 incl.
financing,
was
undertaken
1934
$
1933
$
1932
$
87,468,655
131,776,175
94,813,199
73,158,830
30,395,055
35,815,678
27,831,232
47,962,000
308,151
8,598,432
414,700
27,085,532
25,912,340
Placed In Canada.
Placed In U. S..
•
$
41,910,168
98,294,000
(perm't).
None
None
None
S. Poss'ns
None
None
4,565,000
None
Gen. fd. bds.N.Y.C.
1,250,000
None
None
None
None
None
None
140,512,319 232,408,262
168,386,729
Bonds U.
_
_
Total.'.
*
of
$82,150 000 in July
$21,429 312 in July'
municipalities emitting long-term bonds
and the number of separate
296 and 340,
None
94,546,265 101,705,572
Including temporary securities Issued by New York
City:
1936; $45,511,000 in July, 1935; $27,000,000 in
July, 1934;
1933; $16,785,000 in July, 1932.
respectively.
issues during July, 1936, were
This contrasts with 412 and 482
for
June, 1936, and with 279 and 339 for July, 1935.
comparative purposes we add the following
table,
showing the aggregates for July and the seven months for a
For
series of years.
issues
In these figures temporary loans, and also
by Canadian municipalities, are excluded.
Month of
For the
July
1936
Seven Mos.
.^.$41,910,168
1935-
87,468,655
94,813,199
1934...
1933
30,395,055
27,831,232
1932
1931
1929
---.
1928
1927
1926
.
96,766,226
112,358,085
85,114,065
80,899,070
1924—117,123,679
1923
67,776,833
1922----
94,616,091
104,584,124
57,009,875
83,990,424
23,142,908
92,828,499
1921
1919.
1918
1917--
36,611,488
33,899,870
1916
1915
Month of
For the
July
$657,515,881
687,479,117
614,383,734
256,820,181
556,300,772
947,954,662
877,894,667
755,497,820
859,218,515
86,028,558968,849,278
89,270,476
838,257,412
144,630,193
1925
1920-
1,000,000 Salem, Ore., water bonds awarded to
Blyth & Co., Inc., of
Portland, and associates, on a bid of par for
$35,000 3Ws,
due from 1946 to 1950
incl.; $146,000 3Hs, due from 1951 to
1960 incl. and the balance of
$819,000 as 4s, these maturing
such
Below we furnish a comparison of all the
various forms of
securities sold in July during the last five
years:
1930
1,300,000 Middlesex County, Conn., 1H% Middletown
and Portland
Bridge bonds, maturing from 1937 to 1946
incl., awarded
to A. M. Lamport & Co. of New
York at a price of 100
51,
a basis of about 1.41
%.
on
during July.
The number
3M%
an account headed
Due
cost
being 0.727%.
.
for those
interim
bank requirements.
reserve
No
2,800,000 Pittsburgh, Pa., 2K% municipal improvement and
funding
bonds, due serially from 1937 to 1956
incl., awarded to a;
syndicate headed by Graham, Parsons & Co. of New
York
at a price of 100.82, a basis of
about 2.16%.
Reoffered to
yield from 0.50% to 2.15% for maturities from
1937 to 1948
incl.; at 101 for 1949 and 1950 maturities; at
100.75
cost of
impending increase
Canadian municipal
financing in July consisted of
the disposal of several small issues
having an aggregate
par value of $308,151.
The Dominion
Government, at the
•
§3,000,000 Nassau County, N. Y., 2H% bonds,
including $1,500,000
refunding, $1,000,000 emergency relief and $500,000
county
road, maturing serially from 1938 to 1951
incl., awarded to
Halsey, Stuart & Co., Inc., of New York, and
associates, at
a
price of 100.215, a basis of about 2.73%.
Reoffered to
yield from 1.25% to 2.75%, according to maturity.
S ^
previously out¬
New
breaking the previous record for low
$1,000,000
loans
on
slight advance in the
896,468,767
905,868,652
652,577,756
749,702,241
570,999,611
379,671,407
389,641,253
174,909,192
314,407,599
321,076,020
356,818,480
1913.
1912.
1911
1910
1909.
1908...
1907
1906
1905
1904
1903.
$384,334,150
242,358,554
276,768,423
265,493,667
198,678,899
227,245,964
190,181,257.
131,700,346
127,780,340
122,601,356
171,102,409
95,246,674
100,489,945
69,485,555
86,047,708
81,959,334
51,947,110
90,665,236
48,490,459
72,366,273
74,680,229
34,354,175
16,670^240
1902
1901
1900
Seven Mos.
$26,776,973
23,477,284
30,479,130
42,231,297
35,832,789
20,120,647
21,108,678
16,352,457
25,442,095
10,878,302
33,233,254
1914
....
1899
1898...
1897
1896--.
1895
1894..
1893
12,861,550
8,262,495
8,104,043
18,613,958
7,868,563
17,389,859
5,313,495
15,375,660
8,253,237
1,691,000
In the
Although
some
municipalities continue
to find it difficult
to market their
bonds, the number of such failures in each
month is insignificant as against the volume of
issues which
prove
possible of sale at the time
offerings
during
July
aggregating $750,000.
comprised
of
only
These issues
are
offering.
six
Abortive
separate
listed
issues
herewith, the
tabulation indicating the page number of the
"Chronicle"
where a report of the failure
may be found—name
of
prospective borrower, interest rate and
for the non-sale:
Name
Page
468
Rate
Maturity
2%
1937 1951
$35,000
4
1937-1955
6,500
rl,100
60,000
28,800
100,000
23,000
Abington, Mass.
304 Alachua Co. Sp. Tax S. D. No. 18,
Fla
472
Albany, Ohio
311 Alvin, Texas
629 Andover, N. J__
306
Ann
Arbor, Mich
5
5
1939-1966
4>£
1937-1972
4
1937-1954
any,
given
as
a
627 Arlington Hts. Park Dlst., Ill
305 Ashland, Ky
5
629
amount of the issue
involved, and the nature of the report, if
reason
the
following table we give a list of July, 1936, loans in
the amount of $41,910,168, issued
by 296 municipalities.
In the case of each loan reference is made to
the page in
the "Chronicle" where accounts of the sale are
giv.n:
4%
2%
Avon-by-the-Sea
310 Baldwin Twp. 8. D., Pa
800 Battle Creek, Minn
629
Beamer, Neb
1937-1956
1941-1956
3
4^
<*1946-1951
Amount
r30,000
20,000
52,000
28.000
r22,780
Price
100.11
Basis
2.24
100
4.00
100
"5.66
101.125
4.44
105.44
3.39
100
4.50
100.57
2.70
Rate
3H
4^
3
2.90
Pa
634 Beaver Twp.S.D.,
799
Belding, Mich.
304
Belvidere, Calif
801
Bergen, N. J,-
-
1937-1941
799 Beverley, Mass
800 Big Horn
634
800 Beldlngs, Mont
801
305
801
Burlington, N. C
304
800
471
627
626
627
801
468
Y_.2.80 1937-1945
2.60 1938-1956
Okla
--3
8. E., Me ——3
1946-1948
(H937-1946
Wyo_...4
Catahaula Parish Cons. 8. D. No.
Carbon Co. 8. D. No. 3,
Chanute, Kan. (3 issues)..
802 Chardon 8. D., Ohio
312 Chelan, Wash
Chesterfield County, S.C
1-20 yrs.
5M
2
1937-1956
2.8)
802
305
Clifton, N. J
Neb
Ohio
632 Columbus City 8. D., Ohio
310 Coos Co., Ore. (2 Issues)
310 Coos Co. S. D. No. 12, Ore
630 Corinth, N. Y
308 Cortland, N. Y
632 Columbiana Co.,
475 Coventry, Vt
-----
--
2%
1954
1941-1
1937-1956
1-10 yrs.
1948-1957
Colo..4)4
Waverly Central S.D.
1961
1938-1947
1938-1958
1937-1956
1937-1944
4
Texas.J
804
Eanes 8.
469
Easthampton, Mass
626
628
804
804
628
471
-
1.14 1937-1941
East Hartford, Conn..
— 1K
1938-1945
Ecorse Twp., Mich
5
1938-1944
Edinburg, Va_.
4
dl939-1956
Edouchelsa Indep. S. D., Texas .—4
1937-1941
Everett, Mass
1)4
Falconer, N. Y
2.60 1938-1946
-
11, N. Dak—
632
Falconer 8. D. No.
803
467
Firth, Idaho.
1937-1951
Fayette County, Pa_.
Florence, Ala
797
1937-1956
Fort Collins, Colo
—r
•
467 Forth Dodge, Iowa
632
Franklin, Ohio
473
Franklin Township S. D.,
1%
AH
4
—-3H
2H
4
4
Pa
1937-1946
1937-1941
1939-1961
Garrison, N. Dak
5
475 Garwood School District,Texas ..4
,——4
4
issues) 3&3)£
Grays Harbor Co. S. D. No. 200,
Wash
4
Ohio
632
Georgetown,
312
Glenbeulah, Wit:
632
Granville Co., N. C. (2
627
District, Iowa
Ind
Greene County,
628
Grosse lie Township,
Hallettsville, Texas
lrondequoit u. F. School
4
4
Northvale, N. J
475
Okeene, Okla
309
Oklahoma Co. S. D. No.
304
Orange Co., Calif
635
3*44
■
100.087
OdellS. D., Texas.
Odessa S. D., Texas
802
101.26
469
4.24
803
4.85
-~.3K
3
2%
Lane Co. U. H. 8. D.
Laredo, Texas
797
Las
Animas
Co.
S.
..
No. 1, Ore..2)i
4%
D. No. 43,
3H
Polo
(3 issues)
469
Lawrence, Mass.
800
Leake Co., Miss
799
Leesville, La
467
Leon Indep. 8. D.,
470
Long Branch, N. J
802
Lorain, Ohio
Iowa
'
-.2)4
6
6
2}4
4)£
4
3)4
6
4
Lucas Co., Ohio..
3
Lucas Co., Ohio..
3H
Madison, Wis
2\i
Madison, S. Dak
»
4
Madison Co. 8. D. No. 127, 111--.4
Madison 8. D. No. 38, Ariz..^-..4
797
Los Angeles Co.,
468
Calif
Louisville, Ky
305 Lucas Co., Iowa..
Owosso, Mich
Palmerton S. D., Pa
100.07
3.24
101.794
2.78
636
Perry School Twp., Ind
Portales, N. M. (3 issues)...z
471
16,000
3,400
17,000
125,000
7-74,000
10,500
40,000
3.92
633 Portland, Ore.
l"o"o"38"
1.18
156,000
56,000
4,000
100.185
1.66
2.56
14,000
150,000
50,000
240,000
Racine, Wis. (2 issues)
306
1939-1963
40,000
Ramsey Co., Minn
100.495
1.085
100
4,000
35,000
65,000
8,500
10,000
18,000
60,000
33,000
160,000
180,000
9,000
50,000
7,475
50,000
83,000
61,000
4-25 yrs.
100.004
22,500
1937-1949
22,000
30,000
1937-1949
20,000
1937-1961
r400,000
1938-1956
III!
r26,000
1937-1958
ibb"oi3
18,000
1-5 yrs.
1937-1944
100.021
2.74
»T»
1:11
103.54
3.05
66,000
5,000
30,000
15,000
100.066
2.99
1937-1956
2,800,000
100.82
2.16
r42,000
101.10
3.92
d5-20
yrs.
1940
1938-1954
1.66
42,000
104.881
23,500
28,000
18,235
100.212
3.47
108.055
4.01
109.74
4.76
30,000
100.83
2.70
1941-1942
100,000
103.26
2.34
1946-1965
2,000,000
110.447
2.35
10,000
1956
100.837
2.32
20
100.829
2.09
r37,000
27,000
100
3.50
100
5.25
2
1)4
4)4
3
2)4
4
1937-1941
4.00
•
798
Richland Sch. Twp.,
Richland Sch. Twp.,
Ind
Ind
Richmond, Va
Ridge way, Colo
310 Ridley Twp., Pa
797
3.78
.101
474
100*482
100"
5.00
100
4.00
100.02
"4.98
100.21
—
3.79
Rochester Sch. City, Ind
Rock Hill, S. C,
470
4.00
100
470
100.383
—
St. Charles County, Mo
St. Joseph, Mo
3)4
2)4
St. Paul, Minn
2.10
Salem, Ore
3)4, 3H&4
Saranac Lake, N. Y. (3 issues)
2 )4
Sand Springs Sch. Dist., Okla...2)4-3
4,900
1939-1953
375,000
10,000
5-14 yrs.
42,000
43.000
1941-1947
1937-1949
15,000
10,000
167,500
46,840
56,000
9,500
26,000
1939-1967
2,232,000
H20.000
103.11
104.525 1.995
95
101.086
104.10
1940-1950
1937-1946
3.40
lbb"078
20 yrs.
1951-1956
L59
1937-1947
1941-1956
100.025
106.39,
108.11
2.96
100.04
2.49
100.07
2.08
1939-1946
35,000
100
19,500
Santa Cruz Co., Calif
100
3.76
627
100.319
2.45
310
Seneca, Kan
Sharon Hill, Pa.
100.626
1.02
470
Sikeston
1.91
469
Somerville, Mass
470
Soudan Sch. Dist. No,. 9, Minn...3
634
South Carolina
633
803
Southeastern Rural S. D., Ohio
3
South Whitehall Twp. 8. D., Pa..3
798
Spencer County, Ind
LOO
3.86
4.97
100.211
1937-1951
626
104.679
2~50
100
1937-1960
2)4-3)4
1937-1948
801 Saratoga Springs, N. Y. (3 issues). 1.90
1937-1940
146 Scott County, Iowa
1)4
1-20 years
473 Sebring School District, Ohio..
4)4
1937-1946
799 Sedgwick County, Kan
2)4
633
-
3.00
100
140,000
1956
1.36
100.70
100
960
100
105.685
500,000
6,000
1937-1946
100,000
310
i"oo"""~
1937-1946
1,000,000
38,600
148
2.99
100.527
25,000
30,000
100.316
1937-1946
2.48
100.52
105.90
1941
89,000
,000
1946-1976
101.51
103.7075
1937-1947
.2)4 dl941-1966
3
.4
633 Rogers Co. S. D. No. 9, Okla.3)4-4
801 Rome,, N. Y. (3 issues)
1.60
627 Rossville R. H. S. D. No. 7. Kan..2)4
802 Rowan Co., N. C
3)4-3)4305 RushvilleSch. City, Ind
-.—4)4
633 Sabina, Ohio
5
303 Safford, Ariz
5
627
101.014
9,000
51,650
115,000
50,000
1951-1956
1937-1946
Revere, Mass.
634 Rhode Island (State of)
1.73
100.015
rl2,000
85,000
1941-1951
2)4
2)4
799
100.099
3,500
1938-1946
1937-1946
1941-1966
12,000
.
Randolph, Neb
..3)4
799 Rapides Parish S. Ds., La. (3 iss.).5)4
799 Rayne Sewerage Dist. No. 1, La._4)4
94,000
5,000
1937-1951
1938-1952
629
4,500
1938-1958
1937-1956
r8,000
475
8,000
45,000
249,000
2,500
7,500
7-773,000
3.01
lbb"90~
1937-1956
2, Colo
Pueblo Co. S. D. No.
476
2.37
101.40
2.15
1938-1945
3.18
101.08
1939-1948
304
4.00
100
100.299
62,000
90,000
2)4
3
3
Price County,
Wis
311 Providence, R. I
633 Pryor 8. D., Okla.
4.99
3.33
82,906
f5
\6
(2 issues)
.474 Prospect Park, Pa
804
1.17
112.79
30,000
2)4
4
3
3)4
Polk Co. Wis
3.45
100.244
1942-1956
3
100.343
1.91
100.68
3,
N. Y
Pittsburgh, Pa. (2 Issues)
800 Plattsmouth, Neb
963
100.40
2*97
107.0785 3.10
1937-1951
4
4)4
;
S. D., Tex
F. S. D. No.
Philadelphia U.
100.2116
1937-1966
Pasco, Wash
Pearl River Co., Miss. (2 issues)-.4
475 Petersburg Indep.
100.03
1967
--
—
305
5.00
104.125
4.50
1937-1941
..
800
1.875
100.462
3.93
100
4
2)4
3
3)4
---4-4)4-4)4
4
Paris, Tenn
635 Paris, Texas
2,500,000
6,500
7-50,000
23,650
2.83
100.834
2)4-2)4
153
4.50
101.95
2.73
101.51
rl,500,000
1,500,000
20,000
5-14 yrs.
37, Okla.
Ottunaa, Iowa
304 Ouray Co. S. D. No. 11, Colo
100
100
2.73
100.215
1938-1951
—
468
2.72
Sch.
Dist.,
Mo
....
2)4
3
2
.2)4
(State of)
Ky.:
50,000
40,000
1937-1946
1941-1945
45,000
1940-1949
1,500,000
2-11
years
100.139
1.88
100.17
1.69
35,000
20,000
25,000
15,000
225,000
1941-1961
100.03"
2.72
100.314
100.66
2.90
fob" ~~r
¥.66
100.,13
2.48
1937-1961
25,000
100.97
2.80
1937-1946
24,000
40,000
100.55
2.89
3)4
j
185,000
2.71
100.31
.........
102.12
15,000
1937-1956
1950-1951
35,000
r500,000
100.30
100.743
3.71
2.94
470 Stearns Co. Indep. S. D. Jtfo. 141,
Minn
3
1941-1956
17,000
100
3.00
145
1937-1951
120,000
100.457
2.09
1937-1952
27,000
8,000
15,000
100
101.275
6.00
2.03
474
633
803
474
634
800
804
466
626
804
1956
1938-1949
1941-1945
1937-1956
1941-1966
1954
7-90,000
100.50
3.71
7*28,906
50,000
fob" 77"
¥. 13
Davis
311
466
1
3)4
4
2)4
5
3)4
Norwell, Mass.
305 Stamping Ground,
Fla
803
467
630
100.06
6.00
100.215
1946-1953
North Carolina (State of)
628
2.905
3.16
-
467 Koksomo, Ind
475
North Platte, Neb
8,000
6
802
629
100.75
2.67
100
126,000
50,000
162,000
801
100.213
4.68
100.41
1937-1947
1938-1950
;--4
North Collins U. F. S. D: No. 4,
N. Y
3.20
73,000
308,000
48,000
2,000
7,600
12,500
7-30,000
40,000
15,000
7T4.000
2.96
102.60
101.02
10,000
309
r50,000
7-315,000
7-20,000
100.30
10,000
55,000
10,000
50,000
Newport, R. I
101.121
3.43
48,000
1938-1943
4)4
-.2
---1)4
J
North Adams, Mass
100.88
2.06
1946
New London S. D., Iowa
147
4.00
1.35
100.206
1937-1951
36,000
New Milford, N.
100.06
50,000
474
100
2.68
100.27
1938-1967
630
2.75
100.41
7,000
1941-1951
4
New Boston, Ohio
799
100.42
1.41
1937-1943
1937-1956
100.55
2H
Kentwood, La
635 Kermit School District, Texas...
309
90,000
79,000
District
Y
468
476
3.68
100.516
1937-1946
) 2%
100.71
2-10 years
Parish
School
Drainage Dist. No. 1, La. (2iss.) ..
799 Jefferson County, Kan
2H
797 Jefferson Co. Cons. S.D.No. l,Col.3
630 Jersey City, N. J
3%
310 Jones Township S. D., Pa
4
470 Kansas City Sch. Dist., Mo
2%
308 Kenmore, N. Y—
——2H
Jefferson
102.50
100.10
876,000
43,600
7-500,000
4,000
1937-1941
Nelllsville, Wis.
3
629 New Albany Separate S. D., Miss.4
804
7-20,000
804" Irion County, Texas..
956
3.00
12%
Y. (3 issues)
3.00
100
7*745,000
1944-1949
No; 1, N.
100
Nassau Co., N.
2.37
104.11
1,500,000
1941
1937-1946
6
Morehead City, N. C
150
1937-1946
School City, Ind— — -4H
1938-1946
798 Harbison Sch. Township, Ind..-.4
804 Hawkias Indep. Sch. Dist., Texas.4
632 Henderson, 1,. C—
_._^__3&4 1937-1954
1940-1945
308 Herkimer, N. Y
—2]4
1937-1941
799 Hingham, Mass..
.—
1H
1938-1946
471 Huntington (Town), N. Y_
2
799 Iberville Par. S.D., La. (3 iss.)4,4)£&4% 1937-'56
626 Idaho Co. S. D. No. 39, Idaho...4
1-20 years
629 International Falls S. D., Minn..3
1951-1953
305 Iowa City, Iowa
5
1-10 years
145 Jacksonville,
S. D., Texas
of)
...
146 Hammond
SOi
100
1937-1946
3
Mich—4Ht&4%
797 Gustine, Calif
804 Hainesviile Sch. Dist., Texas
■
2.25
473
1939-1950
3
Greencastle. Ind
305
311
799
23,000
85,000
13,000
1938-1946
1936-1966
4H&4H
Gastonia, N. Caro__
627 Greeley School
801
4.10
1937-1951
472
804
1.225
100.
798
1937-1956
—3A
2%
Gallatin, Tenn
629 Gallatin Co. H. 8. D., Mont
803
802
631
r700,000
Fitchburg, Mass
Fitchburg, Mass
625
147
__
-
469
467
804
—3)4
1, N. Y
306 Dilworth, Minn
No.
D.,
472
4.50
4
1.85
..2,10
Monroe Co., Ind
2
Montgomery Co., Ohio
3
Montgomery Sch. Tp., Ind
4)4
Montgomery, N. Y
-.3)4
Monticello, N. Y
3
Morehouse Parish 8. D. No. 5, La_5
Morgan Twp. S. D., Pa
2H
1937-1946
Minnesota (State
Minneapolis, Minn
801
4.14
4)4
Commission, N. J
Delta, Ohio
466 Delta Co. 8. D. No. 22-36,
1937-1956
------
--5
Colo
4
River Joint Toll Bridge
Dickinson &
627
4.00
fob"
357,000
1938-1946
4)4
—3)4
3
2)4
309
471
100
17,000
80,000
1937-1946
Crossville, Tenn
304 Crowley Co. 8. D. No. T,
630 Delaware
Minos Chapel
629
8,100
"1937-1951
4A
-
1937-1944
Minerva, Ohio
800
2.50
14,000
1937-1986
5
Cowley Co., Kan
803
1
17,000
7,500
7-24,744
5,000
804
100
100.025
1939-1955
2.10
4
Colo
1,300,000
1939-1955
-
Milwaukie, Ore
r70,000
Iowa..
797 Colorado Springs,
1937-1946
3)4-4)4
2J4
472
7,414
1938-1947
—3)4
-
Conn
1)4
Cons. S. D. No. 2,
——
803
30,000
30,000
7-26,000
7-451,000
1946-1963
3
2)i<
Chester, N. Y
468
Okla
1,000
25,000
27,000
*
14,000
798 Clark County, Ind.
Middlesex Co.,
Mill Creek Jt.
dl
1940-1950
120,000
10,000
50,000
10,600
d5-20 yrs.
4
Cherokee Co., Iowa
800 Cody,
802
.70
101.718
1937-1946
60,000
—
15,000
1937-1960
Calif.
39,462
1-10 yrs.
5
3, Okla.3-4
Choctaw Co. 8. D. No.
305 Clinton Co.,
304
2.58
t-29,000
- - -
799
307
2.76
100.25
2.82
100.099
1940-1963
309
1, La
Catskill, N. Y.._.
627 Cedar Falls, Iowa.
471
471
fob" 175
1.98
101.599
24,000
70,000
1938-1942
100.119
120,000
..
4
2H
.4)4
802
105,
No.
D.
7~66
-'99
3-3 A
S.
150,000
Mercer Township, 111
8,000
200,000
1939-1952
799
627
7-600,000
Canton
636
Merced Co.,
1937-1941
473
Girardeau
MeadvilleS. D., Pa
304
1940-1949
1938-1941
800 Cape
473
100
100
2)4
Carlton, Minn
McSherrytown, Pa
1938-1958
Canton, Ohio
629
Martinsburg, Pa
McKenzieS. D., Tenn
803
3
3)4
Marys ville 8. D., Mich
634
--4
472
Indep.
799
803
-.4)$-5
4
Maturity
1937-1956
1937-1956
1937-1939
Basis
Price
Amount
--
1.04
11,000
Camden Co., N. J
,
2*64
50,000
629
Marceline, Mo
lbi"20~
1937-1946
Cairo, N. Y
Cambridge, Mass
Manchester, Mass
629
2*89
fob"""
1937-1943
1938-1943
Name
100.63
5,000
20,000
9,000
45,000
1938-1943
3A
—2;
'
Maiden, Mass. (3 issues)
149 Manchester, N. H
f107,000
7,000
1943-1956 rl,110,000
4H
Rate
..2
3
%
469
799
33,000
1938
--
Fire Dist., N.
Y
Brookhaven, Miss
Brookston, Id...
Buchanan Co., Mo. (2 issues)
Buchanan, N. Y—
Buchanan Co., Iowa
Buena Vista, Colo
—
Buckeye Twp., Ill
Buffalo Cons. S. D,t Iowa
150 Bridgehampton
630 Brocton, N.
Page
3.15
lbb'02"
12,500
40,000
Basis
101.35
7-60,000
No. 14,N.Dak.7
Ga.
467 Bremen,
20,000
T51,000
20.000
20,000
r25,000
1941-1956
Boonville, N. Y
802 Bowbells Sp'l 8. D.
800
,1955
1937-1946
1937-1949
4
2%
3M
Co., Mont
Birdsboro, Pa
Price
Amount
Maturity
1937-1966
\H
Name
Page
1936
Aug. 8y
Chronicle
Financial
952
1937-1946
1941-1948
1936-1950
1956-1963
1947-1956
1937-1940
1-10 years
"1938-1947
1937-1940
500,000
8,000
840,000
70,000
15,000
100,000
61,000
7,000
55,000
----
103.26
101.61
100
101
3.79
2.625
2.50
100.38
2.68
100
4.75
-
1937-1956
9,500
85,000
3,500
1937-1946
20,000
1937-1947
1940-1949
12,000
236,000
1938-1946
47,000
20,000
r26,000
H17.000
281,000
3.32
6.00
4.00
2.72
3.90
4.00
3.50
308 Washingtonville, N. Y
3 •
636'Washington County, Wis
.2)4
475 Watertown, S. Dak. (3 issues)
4
802 Waurika School Dist., Okla...2)4-3)4
801. Wellsville, N. Y. (2 issues)..
2
2.41
6.00
6.00
2.50
4.84
...
1-9 yrs.
1945-1947
<11942-1951
—
r96,500
1939-1956
1942-1951
1937-1937
35,000
60,000
12,000
100
97.45
101.46
100
100
101.55
L.
100.266
100.85
100
101
,
.
•
67,000
45,000
234,000
100.5198 2.45
101.27
2.67
100.759
3.94
100
5.00
2,000
1937-1946
4,000
7,500
10,000
102.05
1937-1950
55,000
1937-1956
693,168
70,000
67,000
'
100.085
2.00
101.194
4
Valentine, Neb.
800 Vandalia, Mo
3)4
309 Van Wert, Ohio
4
799 Vermilion Parish Sch. Dist., No. 1,
La...
4)4
633 Vici, Okla
6
804 Vilas County, Wis. (2 issues)
4
627 Vincennes Sch. City, Ind
2)4
802 Vinita, Okla
630 Wagon Mound, N. Mex
5
306 Waltham, Mass. (4 issues)
2-2)4
476 Washakie County, Wyo...
2)4
25,000
1942-1951
100.599
100
100
2)4
±
-
309
1937-1945
Conn
Summit Twp. Sch. Dist., Pa
3)4
Sylvania, Ohio.
4)4
Tioga County, Pa
2)4
Towanda Sch. Dist., Pa..
2)4
Towamencin Twp. S. D., Pa
2)4
Trenton, Mo
4
Trenton Indep. Sch. Dist. Texas.
Trinity County, Calif
5
Ucon, Idaho
Union Ridge Sch. Dist., Texas...4
803 Upper Merion Twp. S. D., Pa
2)4
801 Utica, N. Y. (4 Issues)
— 1)4
-
—
Stratford,
1.73
1937-1947
10,500
100.28
2.45
1-19 years
20,000
100
4.25
1939-1949
11,000
64,000
100.45
5.93
1936-1956
1937-1948
12,500
IOO.52"
28,000
1939-1959
1937-1961
1937-1956
1938-1952
1946
1937-1956
1939-1948
1937-1946
21,000
280,000
75,000
30,000
fob""
5.00
100.399
100.12
2~74
101
2.87
90,000
100.024
2.49
42,200
103.13
3.63
35,000
100
30,400
inn
osft
1.94
Volume
Financial
143
Page
Name
472
Westchester
Rate
County, N. Y
152
West
801
469
Weston, Mass
629
1A
3A~4
West New York, N. J_1
West Point, Miss
West Virginia (State of)
476
Linn,
Ore_
.1
Windsor, Conn
628 Woburn, Mass. (2
issues)
636 Worland, Wyo
797 Wray, Colo......
Yamhill
County
School
..2-3
1937-1946
30
2.30
102.543
1.90
mittees, would divert $400,000 in sales tax
years
10b~35~
r25,000
1937-1951
3A
..3A
1.00
100.011
30,000
500,000
200,000
194,750
r35,000
1936-1960
1937-1951
2A
100
12,000
1937-1941
3A
2^-3
797
473
1940-1951
100
.
.4
1937-1946
Yazoo County, Miss
4
1938-1942
8,000
5,000
100
4.00
634
York
3
1942-1956
#J)00
100
3.00
Total
bond
sales
of
July
(296
102.44
The
sales
following items included in
Purpose of the organization is to
plants which
counties
for
We give the page number of the issue of our paper
in which reasons for these eliminations
may be found.
same.
Page
Name
635
Rate
Maturity
Price
Amount
Provo, Utah (June)...
The
following additional sales for
Missouri—Supreme Court Rules State Not Empowered
previous months:
Page
Name
Rate
Price
Amount
149
Adams, Neb...
3A
Maturity
1937-1948
306
Anoka
3
1938-1942
rl2,000
50,000
149
1936-1965
Court has ruled that
right to call its bonds prior to
maturity, according to St. Louis press dispatches.
This
decision will prevent the proposed refunding of
approximately
$115,000,000 in highway and soldiers' bonus bonds.
It had been contended
by the State that authority for
such refunding procedure was given by Section 11,500 of the
Missouri Statutes. The opponents of the proposed
refunding
Basis
118,000
S. D. No.
1, N. Y. (May)
Bluffton Sch. City, Ind
3A
East Chicago, Ind
2 A
Elk City, Okla
Elmwood, Spring Lake, &c. S. D.
No. 6, Wis
3
304
304
152
154
101
2.74
1945-1947
14,000
103.25
1937-1955
rl3,000
100.28
1946-1951
<(30,890
Englewood, Ohio
Springs, Ohio
152 Green Twp. S.
D., Ohio
153 Lansford, Pa
4
1937-1976
9,000
5
1937-1943
3,675
3
1937-1950
3
1937-1956
151
4
2.46
100
7,227
7,000
7-86,000
54,000
170,000
4,100
24,000
8,000
152
152
Green
Larimore S. D., N. Dak
Latrobe S. D., Pa
Lea Co. S. D. No. 2, N. M
New Cor dell, S. D., Okla
153
149
152
152
2^-4^
Newcomerstown, Ohio
19
._
4
1937-1945
1939-1940
San Juan Co. S. D. No.
Somerset, N. Y
149
22, N. M.4
1937-1939
1-10 yrs.
2
1-10 yrs.
1-10 yrs.
(not
2
above
sales
additional
including temporary
unless
issues
In connection with the above
report we quote in part as
a Jefferson Citv disuatch of
Aug. 2:
The Missouri Supreme Court, en banc, yesterday ruled the State could
outstanding highway and building bonds at lower rates of
In an opinion prepared by J. C. Collet,
Judge of Division 1 of the
Court, a writ of mandamus asked by the State Fund Board against Forrest
Smith, State Auditor, to compel registration of a preliminary refunding
bond, was denied.
The action by the Board against Smith was a friendly
test suit to determine the authority for
refunding.
Test suits were filed several months ago after Roy
McKittrick, Attorney
General, had issued an opinion holding that the Fund Board had authority
when "in the best interests" of the State to refund
outstanding bond issues.
This opinion was prepared at the request of the House of
Representatives
of the 1935 Legislature, which adopted a resolution
calling upon the Fund
3.32
interest.
100.26
4.22
100
4.00
100.10
3.57
10042"
3~92
101.10
28,487
15,000
100.95
Board to issue new bonds at lower interest rates, if found
legal.
It was estimated at that time that if bonds now
outstanding at interest
of 4%, 4A% and some lower rates could be refunded at a rate of
2A % interest, a saving of from $10,000,000 to $12,000,000 could be realized
in interest charges alone over the life of the bonds.
In referring to the $10,000,000 issue of State
building bonds for rehabili¬
tation of the penal and eleemosynary institutions, the Court held those
bonds were not option securities and, therefore, not subject to
refunding.
"The bond herein involved," the opinion said, "having a definite ma¬
turity date stated therein, bearing the unqualified promise to pay interest
at a stated rate for a definite
length of time, and issued under constitutional
authority containing as its only direction relative to maturity the words
'and maturing not later than 35 years from their
date,' are not option bonds
and cannot be refunded prior to maturity
except by agreement.
Since
the bonds are not due and there is no agreement, they
may be refunded,
it necessarily follows that the Board of Fund Commissioners is without
authority to issue refunding bonds for the present issue."
1.79
1.81
1.81
noted
the
RFC loans)
or
104.35
100.95
make
are
total
rates
for
sales
for that month
$109,096,333.
CANADIAN MUNICIPAL BOND SALES IN JULY
Page
Name
Rate
Maturity
Amount
<
Price
1937-1946
22,900
1,651
104.25
•47,600
96.69
Basis
102.02
1937-1955
_
_
•
4
1-25 yrs.
..2 A
70,000
14,000
99.21
12,000
20,000
99.65
--4A
312
St. Agathe Des
636
St.
Monts, Que
Pierre-Aux-Liens, Que.
.4
^
103.07
1-25 yrs.
36,000
4
1937-1965
20,000
101
4
a
4.34
99.07
1949
1937-1951
4
.4
1937-1946
64,000
104
Temporary loan, not included in total sales for
clause
follows from
5.00
104.75
772,500
otherwise
will
no
not refund its
loo"""
8,000
2
Wichita, Kan
Wichita, Kan
305 Wichita, Kan
the
2~66
100
8,000
7,789
10,000
305
These
lbTl8~
9,500
1939-1940
3.60
305
of
2.98
17,000
1939-1957
1939-1946
Walthill S. D., Neb.
2 A
West Hempstead, N. Y.........4
All
100.18
that the bond indenture contained
which would permit such a call prior to maturity.
4,000
Roosevelt Co. S. D. No. 10, N. M.4A
149
151
June.
3.00
»7,000
Polk Co., Wis
3
Pontotoc Co. S. D. No. 2, Okla...5A
154 Prosser, Wash
152
151
3.94
maintained
58,000
1941-1943
2.17
100
22,500
10,000
D., Pa..
154
149
years
5
Owego, N. Y. (2 Issues)
153 Pitcairn S. D., Pa
Pitciarn S.
1937-1966
1937-1940
151
153
....
2A
100.14
103.89
to
Call Bond Issues—The State Supreme
the State does not have the
Altoona, Beekmantown & Mooers
Co., Minn
unwarranted forced refunding
Association will welcome communications addressed to the
Secretary
pertaining to Mississippi securities about which there appears to be any
proposed adjustments.
Basis
800,000
We have also learned of the
oppose
hereafter to be under consideration by Mississippi
also to foster sound financing in State of
municipalities;
Vicksburg, Miss., President; Vice-Presidents:
totals of long-term
eliminated from the
our
previous months should be
are now or
and
Mississippi and its political subdivisions.
Officers of the Association are: J. G. Hickman, of J. G.
Hickman, Inc.,
J. E. Roddy of Scharff &
Jones, New Orlans E. S. Lews Jr., of Lewis & Thomas, Jackson, Miss.,
and Geo. T. Carter of Geo.
T. Carter and Co., Meridian, Miss.; Sec. &
Treas. is Howard C. Ross of Leftwich & Ross, First National Bank
Bldg.,
Memphis, Tenn.
\
Refunding bonds.
r
Formed
Memphis, New Orleans, Jackson, Miss.,
Not
municipalities from agencies of the Federal government.
Mississippi—Municipal Bond Dealers' Association
and other Southern cities.
municipalities,
covering 340 separate issues)
$41, 910,168
Subject to call in and during the earlier years and to mature in the later year,
including $98,294,000 temporary loans or funds obtained by States and
d
k
Springs, Pa
from the
—On July 29, 1936 there was formed the
Mississippi Munic¬
ipal Bond Dealers' Association, composed of approximately
35 dealers located in
3.50
306
revenue
general fund to relief.
District,
No. 3, Ore.
953
duced in the State
Legislature, which convened recently in
special session, according to Boise press dispatches.
One
of the bills
introduced, all of which were referred to com¬
$50,000 $100.2777 1.12
7-69,888
100.125
95.513
4.54
200,000
1937-1946
4
Chronicle
Basis
Price
Amount
Maturity
1937-1939
98.50
New Jersey—Report Shows Financial Gains in Municipal¬
ities—The following is the text of a special dispatch from
Trenton to the New York "Herald Tribune" of
Aug. 4,
commenting
3.20
the betterment shown recently in the financial
municipalities in the State:
on
condition of
Material improvement in the financial condition of the
municipalities
Jersey is shown today in a report by State Auditor Walter R.
Darby on county and municipal finances for the half-year ended June 30.
Notwithstanding the improvement, however, one county, 11 municipalities
month.
of New
and 21 townships were in default.
The report shows that the first six months of this year local governments
collected 31.99 % of the tax levy, while in the same period last year the
News Items
per¬
California— Single Tax Plan Up for
Approval in Autumn—
At the general election in November the voters of this State
will pass on a constitutional amendment, to abolish the sales
tax and to substitute therefor
California's
general
sales
tax,
a
single tax
passed
in
1932
on
and
land.
amended
in
1935,
frovides49 sliding two cents imposas a tax of one50 cents purcnases between
5 and
a cents; scale that
cent on to 83 cents; three
purchases from
on
between 84 cents and $1.16, and an adjusted scale thereafter.
In its original application it never was
expected to exceed more than 3%
a tax.
It has produced $50,000,000 annually.
However, if the
cents
as
single tax
existing taxes on property, a revenue of $77,000,000
face readjustment.
Supporting the sales tax are the California State Chamber of Commerce,
Industry and Agriculture, and the State Board of Equalization.
is substituted for it and
would
-—Florida—Everglades Harbor Bonds: Case
Decided—An
Associated Press dispatch from Tallahassee on
July 29 had
the following to say in regard to a decision of the State
Supreme Court requiring the cities of Fort Lauderdale and
Hollywood to live up to their obligations in the payment of
harbor bonds issued by both cities for the construction of
Port Everglades, a harbor-building
project:
The Supreme Court decidea
today creation of the Browara County Port
Authority by the 1935 Legislature did not relieve the cities of Fort Lauder¬
dale and Hollywood of responsibility for paying bonds
they issued in 1926
to build a deep-water harbor.
Action by which the Broward County Circuit Court ordered tax
levies
by the two cities to pay defaulted bonds was affirmed by the supreme
Court.
The
-
1935
Legislature
created
the
Browara
County
Port
gave it power to tax property benefited by the aeep-water Port
and provided the cities of Fort Lauderdale and
Authority,
Everglades,
Hollywood should be re¬
of all responsibility for paying the bonds transferred to
the Port
Authority.
'
Such action, the Court said, violated the Constitutional
guarantees of
lieved
It said the Port Authority had ample
right to levy taxes as pro¬
vided, but if it does not, or cannot, pay the
outstanding bonds, then the
contract.
two
cities
are
liable.
^
Fort Lauderdale and Hollywood each issued $2,000,000 of bonds in
1926
to construct the harbor, which later became known as Port
Everglades.
Idaho—Legislative
Bills
Introduced
on
Unemployment
Relief-r-'EXgh.X, bills, dealing with unemployment insurance,
relief and supplemental appropriations, have been intro¬
centage was 30.48.
Total taxes levied this year by municipalities were
$235,483,382, compared to $231,594,679 last year.
Tax collections for
were $75,352,810, as against $70,594,686.
Atlantic is the only county in default.
Its bonds in default totaled
$1,648,520, its tax notes $1,013,755 and interest $460,150.
Seven counties
had scrip outstanding June 30.
They were Atlantic, $66,931; Bergen,
$1,800; Camden, $574,915; Cape May, $120,000; Middlesex, $6,400;
Monmouth, $616,301, and Passaic, $1,280, a total of $1,387,718.
the first six months
New
Jersey—Tax Ruling Affects Business
Sites in Other
Appeals ruled on July 29
that establishment of permanent business sites in other
States by domestic business companies does not exempt
them from taxation on intangible personal property, accord¬
ing to a United Press dispatch from Trenton on that date.
The Board's ruling is said to have sustained tax assessments
against the Universal Indemnity Insurance Co. and the
Universal Insurance Co., with offices in Newark.
The Board likewise refused to permit deduction of book
States—'The State Board of Tax
value
of securities
deduction of
over
reserves
the
market value from assets and'
for outstanding losses in
determining
accumulated surplus.
New York State—Three Amendments
Affecting Municipal
Effect—We quote in part as follows from an
article of interest to dealers in municipal obligations, which
appeared in the "Wall Street Journal" of July 30:
Bond Bids Go Into
Three amendments to the municipal law, which will change
bidding
practices of investment houses seeking New York municipal obligations,
apparently have escaped the attention of a number of dealers, probably
because the law
was
New York State
Legislature.
passed with little, publicity at the last session of the
The amendments
lowest coupon
which, in effect, provide that the bidder naming the
rate shall be awarded the bonds regardless of any
offsetting
premium on
higher
a
coupon
bid,
was
mentioned in the "Wall Street Jour¬
nal's" report on Pittsburgh's award yesterday and drew a number of
inquiries from dealers.
The Pittsburgh bonds,
which were sold to a
syndicate headed by Graham, Parsons & Co., at a premium for 214s,
would have been awarded to the Phelps, Fenn & Co.
group under the NewYork law, for the latter named a coupon rate of
2.20%, although their net
interest
cost
basis
was
higher.
The three amendments which will change bidding
York State became effective July 1, 1936.
They are:
.
applies to school districts;
practices
in
New
Chapter 582 which
Chapter 583 which changes the general municipal
Financial
954
law and
applies to municipal corporations,
Ohio—Results of Recent Legislative
Session—The General
Assembly, which had been in session since last September,
recessed recently following the enactment of a permanent
relief measure which sets up appropriations of $6,500,000
for the remainder of the year.
The so-called '/five minute
recess" was decided upon after the Senate refused to follow
the sine die adjournment resolution adopted by the Lower
House.
As a result, the recess may continue into the, next
session which convenes in January,
During its 10 months' deliberations, the Legislature claims among- its
achievements,
the passage of numerous measures designed to accord
municipalities and political subdivisions which
badly crippled through decreased operating revenues, tax de¬
been
have
linquencies and the 10 mill tax limitation.
Among the principal measures aiding political subdivisions are those
permitting taxing authorities to refund their outstanding* indebtedness over a
30-year period through the issuance of serial refunding bonds, and the
removal of debt levies from within the 10-mill limitation to outside, after
a
majority vote of the electorate.
Out of a total of 260 bills introduced into the two Houses, 79 have met the
approval of the Governor; three
have been vetoed, several partially vetoed,
still await, the action of the Governor.
suffered by the Governor when the solons flatly
rejected administration measures, including the proposed $20,000,000
welfare building program, milk control legislation, unemployment insurance
and repeal of the sales tax.
Among the social security measures approved were those conforming the
State old age pension law to the Federal social security legislation, together
with measures permitting the State to benefit in Federal aid for mothers'
pensions, and care for the cripplied and dependent children and blind
and 17 measures
Several setbacks were
relief.
•
Legislature Approves Measure Allowing Municipalities to
Tax Limitation—The recent Legislature passed
measures designed to allow municipalities within the State
to move outside the tax limit bonds subject to that restriction.
Both the Senate and the House bills provide that the taxing
Abrogate
Refunding 5s, due April 1, 1966, price to
maximum maturity of 30
NEW YORK
67 BROAD STREET
Telephone WHltehall 4-6765
GREENVILLE,
CHARLESTON, S. C.
S. C.
ALABAMA
Ala.—REFUNDING BONDS AUTHORIZED—'The City
July 24 passed an ordinance authorizing the refunding of
DECATUR,
Council
on
$1,775,600 outstanding bonds.
'
Issuing of the new bonds will effect a reduction of from 6% to 5% on
virtually all of them with the exception of two issues on which they will be a
temporary reduction to 4K%.
The city will save about $18,000 yearly in interest as result of the re¬
financing plan.
All new bonds bear the date of and income effective as
Aug. 1, 1936, except $341,000 in five mill bonds which date from March 1,
1936.
Interest
on
old bonds now in default is to be paid in
full up to June 1,
1935, city officials said, and half of The regular coupon rate from June 1,
1935, to Aug. 1, 1936. Paying half of the coupon, rate means a saving of
$30,000 to the city.
*
The refinancing measure will put Decatur on a current financial basis,
city officials said, with the pledged revenue and reduction in interest
sufficient to service the new issue.
As a further step toward effecting refunding the city's debt a suit asking
judgment of $300,000 was filed against the municipality, Thursday in
U. S. District Court at Birmingham by a group of bondholders represented
by Douglas Arant of Bradley, Baldwin, All and White.
GADSDEN, Ala.—BOND OFFERING—H. C. Thomas, City Clerk, will
Aug. 11 for the purchase of $34,000 5% coupon
refunding bonds.
Sale will not be at a price of less than 95.
Denom.
$1,000.
Dated Sept. 1, 1936.
Principal and semi-annual interest payable
at New York.
Check for $1,000, payable to the City Clerk, required.
receive bids until 11 a. m.
Approving opinion of Storey, Thorndike, Palmer & Dodge
be furnished by the city.
It is stated that these bonds mature as follows: $2,000,
and $4,000 in 1950
of Boston will
1937 to 1949,
and 1951.
BONDS
ARKANSAS
Markets in all State, County
State Tax Commission for author¬
ity to issue refunding bonds outside the limit in an amount
sufficient to meet the budget requirements.
These refunding
a
yield 4.80%
McALISTER, SMITH & PATE, Inc.
service, may petition the
serial and have
Alabama
$50,000 City of Montgomery,
authority of any political subdivision may estimate the
outstanding debts as of Jan. 1, 1936, and upon declaration
that millage inside the ten-mill limitation is inadequate for
bonds would be
1936
&c.; and Chapter 591 which
conform with the municipal law.
amendments make all the sub-divisions of the State
subject to the new provisions.
The laws do not affect State constituted
authorities such as the Porte f New York Authority, nor do they affect the
offerings of State bonds.
makes the village law
In effect, the three
financial and social relief to
Aug. 8,
Chronicle
& Xown Issues
SCHERCK, RICHTER COMPANY
LANDRETH BUILDING,
years.
ST. LOUIS, MO.
approved by the State Tax Commission, the question is then sub¬
electorate.
Majority vote only is required for approval of
If
mitted to the
the refunding.
Both measures
deficiency
provide for the refunding of any or all deficiency bonds,
bonds, poor relief obligations, special assessments,
judgment
refunding and any other bonds.
The refunding bill introduced
ARKANSAS
into and passed by the Senate received the
Senate Taxation Committee headed by Senator
Keith Lawrence of Cuyahoga County.
This county, which includes Cleve¬
land, would undoubtedly benefit materially by such a law, since the ten-mill
limitation has brought up fiscal problems for this vicinity.
Akron and
Dayton are other cities that might well benefit by the new law. * Akron
officials already have under consideration action under it.
recommendation of the
Texas—Municipal Bonds Held Payable in Order of Issu¬
ance—A decision was handed down recently by the Court
of Civil Appeals in Eastland, Texas, as discussed in these
columns early in July—V. 143, p. 144—in a case involving
the Breckenridge Independent School District, holding, in
substance, that the first issues of bonds of a municipality
constitute a prior lien on limited tax revenues and the
service charges of the first issue must be met in full before
The
sale
be applied on later issues.
Aug. 5 of Fort Worth Independent School
can
any revenue
on
bonds was regarded by dealers and investors in
municipal securities as of particular interest because
of the above decision.
District
Texas
However, it was
pointed out that the Fort Worti\ School District bonds
directly affected by the Breckenridge decision as the bonds
payable primarily out of a specially voted 10-cent tax, the proceeds of
which, in the opinion of counsel, cannot be subject to any claim of priority
either for maintenance or, for previously issued bonds.
One well-known attorney, in discussing the Breckenridge case, saw no
occasion for surprise at the situation which caused the decision.
The
issuance of bonds against a limited tax up to the fully amount which can
be paid by a 100% collection of tax based on present valuations should
carry its own warning to conservative investors, dealers and counsel alike,
would not be
are
he said.
there, he pointed out, were constantly increasing and
substantial decline. Some of the smaller dis¬
borrowed to the limit of the tax, and default under such
a practice was inevitable.
In the Breckenridge case, he averred, the Court sought to protect the
relatively conservative investor who bought on a relatively low debt and
State & Municipal Bonds
WALTON, SULLIVAN & CO.
ST.
LITTLE ROCK, ARK.
LOUIS. MO.
ARKANSAS
AUGUSTA, Ark.—BONDS SOLD—It is stated by the Town Clerk that
$12,000 street paving bonds approved by the voters in February, have been
sold to local purchasers.
NORTH
ROCK
LITTLE
SPECIAL
SCHOOL
DISTRICT
North Little Rock) Ark.—BOND REFUNDING PROGRAM
(P.
O.
APPROVED
of the above district have been delivered
to The Commercial National Bank, Exchange Dapository, and all steps in
the refunding program have been approved by the State Department of
Education and by Wallace Townsend, Attorney,
who has issued and
delivered to the trustee his legal opinion.
Exchanges can be made im¬
mediately upon the deposit of bonds.
The above bonds and coupons are deposited for refunding under plan
authorized by the Board of Directors of the North Little Rock Special
School Dstrct and the Arkansas State Department
of Education under
date of May 1, 1936, and it is understood that in lieu thereof bondholders
will receive the following:
1. Cash equivalent to 75% of the past due interest to April 1, 1936 as
full settlement of all past due interest.
2. New refunding bonds, dated April 1, 1936, due Jan.l, 1966. callable
on any interest payment date at par and accrued interest, with interest at
3J^% to Jan. 1, 1951, 4K % thereafter until paid or called, which bonds are
payable from a seven-mill permanent levy already voted.
3. Legal opinion of Hon. Wallace Townsend, Attorney, Little Rock, Ark.
—The
new
refunding
bonds
The valuations
were
due eventually for a
tricts, he added,
CALIFORNIA MUNICIPALS
$5,000
Long
Beach
Park
&
Playground
valuation.
the larger Texas cities and their school districts, he believes,
seriously affected by the implications of the decision, since their
debt is relatively low and protected by an ample taxing power.
In all
cases where bonds as issued are subject to tax limit, recited in the opinion,
the investor is concerned primarily with ability to pay and there is no
assurance of a completely enforceable tax,
he said, adding that when it
becomes a matter of enforcement, there will always be the question of the
5's 6-1-52
The bonds of
are
@ 3.45%
not
priority of maintenance in the particular year
proceeds of the tax for that year.
"
OFFERINGS
HBootk e, Sillcttc S Co.
634 SOUTH SPRING ST.
Francis, Bro. & Co.
ESTABLISHED
111 Sutter St.
TULSA
and Negotiations
ARIZONA
WICKENBURG, Ariz.—BOND ELECTION—An election will be held
here on Aug. 14 to vote on the question of issuing $25,000 sewage system
bonds.
<
DONNELLAN
1877
Securities
LOUIS
Bond Proposals
LA
566
California Municipals
MUNICIPAL BONDS
ST.
TELETYPE
WANTED
Arkansas—Illinois—Missouri—Oklahoma
Investment
LOS ANGELES
MEMBER LOS ANGELES STOCK EXCHANGE
and the allocation of the
■'
& CO.
San Francisco, Calif.
Telephone Exbrook 7067
Teletype-S F 396
CALIFORNIA
CALIFORNIA, State of— WARRANT SALE—An issue of $1,500,000
was offered for sale on Aug. 7 and was awarded to Blyth &
Co., Inc., of San Francisco, at a price of 101.29 for 3H % warrants.
relief warrants
GUSTINE, Calif.—BOND SALE DETAILS—We are now informed by
the City Clerk that the $8,000 sewer bonds purchased by William Cavalier
& Co., of San Francisco, at a price of 103.7075, as reported here recently—
Financial
Volume 143
V. 143, p. 797—bear interest at 4%, are dated Aug. 1, 1936, and mature on
Aug. 1, 1940, giving a basis of about 3.00%. Coupon bonds in the denom.
of $500. Interest payable F. & A.
LOS ANGELES COUNTY FLOOD CONTROL DISTRICT (P. O.
Los Angeles), Calif .—BOND OFFERING—It is stated that sealed bids
will be received until 2 p. m. on Aug. 18 by L. E. Lampton,
Board of Supervisors, for the purchase of a $5,594,000 issue
Clerk of the
of 5% semi¬
Due on July 2 as follows:
$200,000 from 1937 to 1958, and $199,000 from 1959 to 1964, all incl.
This block of bonds is said to be the remainder of an issue of $35,300,000,
authorized by the Flood Control Board in April, 1924.
Dated July 2,1924.
annual flood control bonds.
LOS ANGELES METROPOLITAN WATER DISTRICT
(P. O. Los
Angeles), Calif.—BOND OFFERING—It is stated by S. H. Finley, Secre¬
tary of the Board of Directors, that he will receive sealed bids until 1:30
p. m. on Aug. 28 for the purchase of a $14,184,000 issue of Colorado River
M. & S.
Due $394:,000 from Sept. 1,1951 to
1986, incl.
The bonds will be sold for cash only and at a price not less than
par plus accrued interest to date of delivery.
Bids must be for all of said
bonds and no bid for less will be considered.
Prin. and int. payable in
lawful money at the office of the District Treasurer or at the National City
Bank, New York, or at the Continental National Bank & Trust Co. in
Chicago.
The approving opinions of Thomson, Wood & Hoffman of New
York and O'Melveny, TuHer & Myers of Los Angeles will be furnished the
purchaser.
A certified check for $284,000, payable to the district, must
accompany the bid.
The bonds are issued in pursuance of an Act of the Legislature approved
May 10, 1927, and of all amendments thereof and supplements thereto. The
bonds may, at the request of the holders thereof, be registered as to prin¬
cipal and interest in the holder's name on the books of the District Treas¬
urer, and after such registration may, with the consent of said District
and the holders of such bonds, be reconverted into coupon bonds, at the
expense of the holders thereof, and may again be reconverted into regis¬
tered bonds from time to time as authorized by, and in the manner and
pursuant to the provisions of, subdivision (k) of Section 7, of the Metro¬
politan Water District Act.
Payment for and delivery of bonds will
be made at the District Treasurer's office in the City of Los Angeles.
Payment for said bonds shall be made in instalments or periodic intervals
as may be required by the district, the amount of each instalment and the
date of payment therefor to be hereafter determined by the Comptroller
of said district; provided, however, that the amounts of such instalments
shall be not less than $500,000.
It is anticipated that the amount of the
first instalment will be approximtaely $1,773,000 and that payment there¬
for will be required on or about Oct. 10,1936.
The bonds will not be ready
for delivery at the date of the award, but will be prepared, executed and
delivered as soon thereafter as possible.
The successful bidder shall, upon
being furnished with the legal opinions hereinafter mentioned, pay to the
District Treasurer the purchase price of each instalment of said bonds and
Interest rate is not to exceed 5%, payable
water works bonds.
Denom. $1,000.
Dated Sept. 1,1936.
Chronicle
PUEBLO
955
COUNTY
SCHOOL
DISTRICT
NO.
1
(P.
O.
Pueblo),
Colo.—BOND OFFERING—The Board of Education is calling for bids to
be received until Aug. 25 for the purchase of $140,000 refunding bonds.
An election at which the voters will be asked to approve the issue is to be
held on Aug. 25.
RIDGWAY, Colo —BOND SALE DETAILS—The $10,000 4% water
works bonds sold to Brown, Schlessman, Owen & Co. of Denver at 95 as
reported in these columns—V. 143, p. 797—are issued in the denomina¬
tion of $500 each, are dated May 15, 1936, and will mature $1,000 yearly
on May 15 from 1941 to
1950, incl. Interest is payable May 15 and Nov. 15.
WASHINGTON COUNTY SCHOOL DISTRICTS (P
O
Akron),
Colo—BONDS CALLED—The County Treasurer is said to have called
for payment on Aug. 1, the following 6% bonds:
School District No. 30 bonds.
Dated Aug. 1, 1920.
in 1935.
School District No. 34 bonds.
in 1930.
Due in 1950, optional
Dated Aug. 1,1920. Due in 1940, optional
FLORIDA
BONDS
PIERCE-BIESE CORPORATION
JACKSONVILLE
Miami
Orlando
Tampa
Florida
Municipals
LEEDY. WHEELER & CO.
Orlando, Fia.^^^HJacksonviile, Fla.
Bell
Orlando
System
10
Teletype
Jacksonville
No.
96
there will be delivered to the purchaser, as evidence of such payment, an
interim certificate duly executed by the Comptroller of the district.
When
the definitive bonds have been prepared and executed, the same will be
delivered to the purchaser upon the surrender of such interim certificates.
The Metropolitan Water District of Southern California is composed of
territory included within the corporated boundaries of the City of Los
Angeles and various other cities in the county and in the County or Orange.
The total population of the district, as shown by the 1930 census, was
1,665,833.
The total assessed valuation of all property within the district
subject under the law to taxation by the district is, according to the last
equalized assessment rolls, the sum" of $1,783,531,020.
SAN
FRANCISCO (City and County) Calif.—BOND SALE—The
$344,000 issue of Hetch Hetchy bonds offered for sale on Aug. 3—V. 143,
& yth & Co.;awarded to a syndicate composed of the Bankamerica Co.;
797—was the American Trust Co., all of San Francisco; and R. W.
Pressprich & Co. of New York, paying a premium of $21, equal to 100.006,
a net interest cost of about 2.77%, on the bonds divided as follows:
$20,000
as 4s, maturing $10,000 on June 1, 1939 and 1940; the remaining $324,000
as 2Ms, maturing on June 1 as follows:
$10,000, 1941 to 1957, and $11,000,
1958 to 1971.
'
Second bid was Donnellan & Co., Lazard Freres & Co., and Dick & MerleSmith, at $186 premium, for $15,000 maturing 1939-40 as 5s and $329,000
maturing 1940-71 as 2%s with 1940 maturty split.
Third high was Mackey,
Dunn & Co. of New York, at $1,207 premium for $170,000 1939-55 as 2Hs
and the remainder
SAN
as
LEANDRO,
$30,000 park bonds
3s.
Twelve bids
were
submitted.
Calif.—BONDS DEFEATED—A proposal to issue
was
rejected by the voters at
a
recent election.
SANTA
BARBARA, Calif—BOND OFFERING—Walter B. Mcintosh,
City Clerk, will receive bid? until 2 p. m. Aug. 10, for the purchase at not
le^3 than par of $21,000 tennis court bonds.
Bidders are to name rate of
interest, not to exceed 6%.
Denom. $1L000.
Dated Aug. 15, 1936.
Principal and semi-annual interest (Feb. 15 and Aug. 15) payable at the
City Treasurer's office. Due $2,000 yearly on Aug. 15 from 1937 to 1946,
incl.; and $1,000 Aug. 15, 1947.
Certified check for 3 % of amount of bonds
bid for, payable to the City Treasurer, required.
Delivery to be made on
or about Aug. 20 at the City Treasurer's office.
VENTURA
COUNTY
(P.
O.
San
Buenaventura),
Calif.—BOND
SALE—The
$25,000 3M% building bonds of Hueneme School District
on Aug. 3—V. 143, p. 466—were awarded to the Bank¬
america Co. of San Francisco at a premium of $833.48, equal to 103.33392,
a basis of about 3.16%.
The Bank of A. Levy, Oxnard, offered a premium
of $720 for the issue.
Dated July 1, 1936.
Due on July 1 as follows:
$1,000,1937 to 1952, and $3,000 in 1953. 1954 and 1955.
which
were
offered
Rocky Mountain Municipals
ARIZONA—COLORADO—IDAHO—MONTANA
NEW MEXICO
—
FLORIDA
CRESTVIEW, Fla.—BONDS VOTED—The citizens of Crestview atja
election voted favorably
recent
ESCAMBIA
COUNTY
VOLUSIA
COUNTY
upon
delivery.
All holders who have
—
ing their bonds at the cost of the taxing units; while bonds not committed
nor deposited by that date, and tendered for exchange after Aug. 15, 1936,
will be subject to an exchange charge to be paid by the bondholder.
OFFERINGS
Teletype: Dnvr 15
FIRST SECURITY TRUST CO.
FOR
SALT LAKE CITY
INVEST¬
are
now
(P. O. Hot Sulphur Springs), Colo.—BOND
$60,000 2% % serial bonds has been sold to the J. K.
Mullen Investment Co. of Denver at 100.21.
GUNNISON, Colo.—BOND SALE—The $60,000 coupon municipal
light and power plant bonds approved by the voters at a recent election
have been sold to Brown, Schlessman, Owen & Co. of Denver, as was
reported in these columns—V. 142, p. 3894.
AUTHORIZED—Ad. ordinance has
$21,500 water refunding bonds.
been passed providing for the issuance of
NEDERLAND, Colo.—BOND SALE—A $5,000 issue of 4% semi-ann.
reported to have been purchased by the Mercantile
Bell Teletype: SL K-37
Phone Wasatch 3221
IDAHO
KOOTENAI
COUNTY
(P.
O.
Coeur
d'AIene),
Idaho—BOND
ELECTION—At the general election on Nov. 3 the voters will pass on
the
proposed issuance of $125,000 in county hospital bonds.
CITY, Idaho—RATE OF INTEREST—The $8,600 special
improvement bonds purchased at a price of par by the First National Bank
of Malad City, as previously noted in these columns, bear 6% interest.
MALAD
MONTPELIER
BONDS
INDEPENDENT
VOTED—At
a
ST.
SCHOOL
Idaho—
of the district voted
$88,000 high school building bonds.
MARIES, Idaho— BOND ELECTION—The City Council has set
Aug. 25 as the date of a special election at which
water
DISTRICT,
recent election the residents
in favor of the issuance of
COUNTY
Bank of BOulder.
WANTED
MUNICIPALS
informed that
the $745,000 electric light and power plant refunding bonds awarded on
July 31 to a group headed by Boettcher & Co. of Denver, as noted in
these columns—V. 143, p. 797—were sold at a price of 100.049, for the
bonds divided as follows:
$556,000 as 3 Ms, maturing semi-annually from
April 1, 1937 to April 1, 1948; the remaining $189,000 as 3s, maturing semi¬
annually from Oct. 1, 1948 to April 1, 1951.
Three other proposals were
made by Boettcher & Co. and associates, for the above bonds.
We had
previously reported that the award was made on an alternate bid submitted
by this group of 100.71 for 3Ms.
water works bonds is
formally committed their bonds to the refunding
being requested to tender their original bonds to the exchange
agent/ with all past due coupons attached, the only expense being the nominal
shipping charges for returning the new securities to them.
All other holders who either formally commit or tender their bonds for
exchange on or prior to Aug. 15, 1936, are accorded the privilege of refund¬
program are
UTAH—IDAHO—NEVADA—MONTANA—WYOMING
Colo.-—BONDS OFFERED
Colo.—BONDS
Fla.-—REFUNDING PLAN
WYOMING
COLLINS, Colo.—CORRECTION—We
KREMMLING,
(P. O., De Land),
refunding bonds of each unit will be deliverable through The First National
Bank of Chicago as of Aug, 15, 1936.
Interest coupons matured July 1, 1936, will be detached from the refund¬
ing bonds and payment made therefor by check of The First National Bank
of Chicago.
The unqualified approving opinion of attorneys Caldwell &
Raymond, of New York City, will also accompany the refunding bonds
were purchased
July 30 by a group headed by Eldredge & Co. of New York as 2.10s, at a
price of 100.087, a basis of about 2.09%—V. 143, p. 797—were offered by
the successful bidders on Aug. 4 for public subscription priced to yield
2.00% to the optional date.
Dated Sept. 1, 1936.
Due from Sept. 1,
1948 to 1951, optional on Sept. 1, 1945.
SALE—An issue of
Pensacola), Fla?—BOND CALL—The
refunding program involving Volusia County Special
Road and Bridge Districts and Special Tax School Districts, substantially
as announced on March 1, 1936, is now being declared operative, and the
on
GRAND
O
OPERATIVE—The
MENT—The $315,000 coupon refunding water bonds that
FORT
(P
SUMTER COUNTY (P. O. Bushnell), Fla.—REFUNDING PLAN
OPERATIVE—The Sumter County refunding plan has been declared
operative, and refunding bonds have now been delivered to those bond¬
holders whose original bonds were heretofore deposited with the exchange
agent, The First National Bank of Chicago.
Upon delivery the refunding
bond- were accompanied by the unqualified approving opinion of Messrs.
Chapman & Cutler, and check of The First National Bank for interest
through July 1, 1936, at the refunding rate Qf 4% per annum.
Proceedings required by the approving attorneys were passed by the
Board of County Commissioners to comply with the requirements imposed
by the Florida Supreme Court relating to the Homestead Tax Exemption
Amendment question, and, in the opinion of the attorneys, all rights and
remedies which would be available for the support and enforcement of the
original bonded indebtedness continue and remain available for the support
and enforcement of said refunding bonds.
COLORADO
SPRINGS,
proposal to issue $18,000 city hall
paving refunding bonds to be dated Aug. 15,1936, and due $11,000 Aug. 15.
1937-50, and $21,000 Aug. 15, 1951.
DENVER
COLORADO
a
county has called for payment on Aug. 15, $175,0006% road paving bonds.
Holders will be given the option of cash or a like amount of 4M% road
DONALD F. BROWN & COMPANY
Telephone: Keystone 2395
on
bonds.
proposal to issue $65,000
a
bonds will be voted upon.
ST. MARIES SCHOOL DISTRICT
NO. 1,
Idaho—BONDS AUTH¬
ORIZED—'The Board of Trustees has voted to refund $90,000 outstanding
4M % school construction bonds into 4% bonds maturing serially for 15
years.
SALMON* Idaho—BONDS NOT SOLD—The $60,000 issue of
exceed
5%
semi-ann.
coupon
not to
refunding and funding bonds offered on
as no bids were received, according
July 2—V. 142, p. 4376—was not sold
to report.
,
'
Financial
956
ILLINOIS
BELLEVILLE
National
2s, at
a
Bank
DISTRICT, 111 —BOND SALE—The First
purchased an issue of $25,000 bonds as
SCHOOL
of Belleville has
price of 100.25.
CHICAGO, 111.—WARRANT CALH-R. B. Upham, City Comptroller,
the call for redemption of public library tax anticipation warrants
of 1934, numbered from 737-742, incl., also municipal tuberculosis sana¬
torium warrants of 1933, numbered from 508 to 525, incl.
announces
CICERO, 111 —BONDS SOLD—The city has sold $334,000 5% fund¬
ing bonds to A. S. Huyck & Co. and H. C. Speer & Sons Co., both of Chicago,
who are now$ffering the securities to investors at prices to yield from 3% %
to 4%, accqrdang to maturity.
Dated July 15, 1936. Due on July 15 as
follows:
$14f0BG, 1939; $15,000, 1940 to 1943, $20,000, 1944 to 1956.
RALEIGH, 111 —BOND SALE—R. M. Webber, Village Clerk, informs
us of the sale on June 6 of $1,400 5% street bonds to the First National Bank
of Harrisburg at a price of par.
Due $100 each year beginning on Oct. 1,
1936.
Interest payable annually on Oct. 1.
Coupon bonds.
RIVERSIDE, III.—BOND CALL—Water revenue bonds in the amount of
$108,000, dated Sept. 1, 1929 and scheduled to mature from March 1,
1937 to Sept. 1, 1949, are being called for retirement on Sept. 1. Payment
will be made on presentation of bonds at the Village Treasurer's office, or
at the Northern Trust Co., in Chicago.
,
SPRINGFIELD,
OFFERING—Harry
III.—BOND
missioner of Accounwand Finance,
B.
Luers,
Com¬
will receive sealed bids until 2 p. m.
on
Aug. 17 for the purchase of $8,000,000 3, 3X and 3X% coupon electric
revenue bonds.
Preliminary notice of the offering appeared in a previous
issue
The bonas will be dated Sept. 1, 1936.
Denom. $1,000.
Due as
follows: $150,000, March, and $155,000, Sept. 1,
and $165,000, Sept. 1, 1940; $170,000, Marcn, and
1939; $160,"000, .March
$175,000, Sept. 1, 1941;
$180,000 March and $185,000. Sept. 1, 1942; $190,000 March, and $195,000.
Sept. 1, 1943; $200,000 March, and $205,000, SCpt. 1, 1944; $210,000
March, and $215,000, Sept. 1, 1945; $220,000 March, ana $225,000,
Sept. 1, 1946; $230,000 March, and $235,000, Sept. 1, 1947; $240,000
March and $245*000, Sept. 1. 1948; $250,000 March, and Sept. 1, 1949 to
1953; $250,000 March, and $260,000, Sept. 1, 1954, ana $260,000, March
and Sept. 1, 1955 and 1956.
Callable in numerical order on interest paying
dates on 39 days' previous notice, at par ana accrued interest, plus premium
equal to K of 1 % of principal sum for number of years and fractions thereof
from prepayment date to date of stated maturity, but during first 2 H years
both premium and interest shall not exceed 5% for the period held, the
premium during such period being:
3%
3H%
3X%
Mar. 1,1937
-
Sept. 1,1937
Mar. 1,1938
--
Sept. 1,1938.
Mar. 1,1939..
Payable,
both
Revenue
Fund
100.95
101.95
102.86
103.72
-----
_
as
to
-
100.89
101.82
102.66
103.45
104.17
100.85
101.69
102.50
103.29
104.07
Chronicle
Aug. 8, 1936
EAGLE GROVE, Iowa—BOND SALE—The $39,000 water works bonds
offered on Aug. 3—V. 143, p. 627—were awarded to the Carleton D. Beh
Co. of Des Moines as 2Ms.
Dated Aug. 1, 1936.
Due as follows:
$500,
1938; $1,500, 1939 to
$2,000, 1956.
1941; $2,000, 1942 to
Iowa—BONDS SOLD—The
GRAETTINGER,
$6,000 issue of 2%%
31—
798—was awarded to the Graettinger State Bank, according
semi-annual water works imporvement bonds offered for sale on July
143,
V.
p.
to the Town Clerk.
GREENE COUNTY
(P. O. Jefferson), Iowa—CERTIFICATE SALE
of secondary road construction fund anticipation
798—was awarded to Shaw, McDer& Sparks of Des Moines, as 2s at pax.
Due $32,000 on Dec. 31,
—The
$64,000
offered
mott
issue
sale on Aug. 4—V. 143, p.
for
1937 and 1938.
IOWA,
of—TAX REFUNDS OF $11,550,000 ALLOCATED—
amounting to $11,550,000 and representing surplus revenues
State
Tax refunds
from
the
State
Iowa
designated therefund
The Board
taxes
were
ordered
week by the State Board of
as a
credit against the second instalment
of real and personal property taxes levied in 1935 and collected in 1936.
In addition to the amount allocated to the counties from the three tax
sources,
$125,000
the Board has had on hand since June 30 $1,000,000 for relief,
as State aid for CCC camps, and sufficient other revenue from
the expenses of administration of the law enacted
tax collections to absorb
several years ago, Chairman Valentine said.
In the event that the taxpayer already has paid
.
his second half 1936
taxes, the refund will be made by the County Treasurer in cash.
Allocations made this week are. in effect, a 40% reduction in taxes if
credited on second half of 1936 taxes and 20% if the credit is applied to the
entire real and property taxes for the year.
Last year, in excess of $4,000,000 was allocated back to counties,
and in
1934 about $3,500,000.
LeROY TOWNSHIP
SCHOOL DISTRICT NO. 2 (P. O. Vinton),
Iowa—BOND OFFERING—John D. Moeller, District Secretary, wil
receive bids until 8p.m. Aug. 19 for the purchase of $4,000 bonds.
OSKALOOSA,
Iowa—BOND
SALE—The
$20,000
pool
swimming
bonds offered
on July 30—V. 143, p. 799—were awarded to the Mahaska
State Bank of Oskaloosa as 2)^s, at a price of 100.625.
COUNTY
PAGE
(P. O.
Clarinda),
Iowa—MATURITY—It is
now
reported by the County Treasurer that the $24,000 secondary road anticipa¬
tion certificates purchased on June 25 by Shaw, McDermott & Sparks,
of Des Moines, at 1%, plus a premium of $1, as noted here at that time—
V. 142, p. 4377—mature on Dec. 31,1937.
SIOUX CITY. Iowa—BOND ELECTION—An election is said to have
been slated for Aug. 7 to vote on the issuance of the $315,000 in flood
protection bonds, mentioned in these columns last June.—V. 142, p. 4377.
KANSAS
Bidders are invitea to bid on either or all
premium.
Bonds are registerable as to principal.
Place of payment at
purchaser's option.
The bonds will be sold subject to the approval of all
legal proceedings by Chapman & Cutler, of Chicago.
These bonds are
part of an authorized issue of $8,500,000; $7,000,000 of the proceeds to be
used in paying the purchase price for the electric light plant and distribution
system of Central Illinois Light Co. which has been operating in the city,
and surrounding territory, in competition with the municipal plant., The
remaining $1,500,000 of the issue is the estimated cost of constructing
additions to the power plant, substations, and transmission lines so as to
coordinate the two plants into a single operating system and provide forh
present and future needs.
Only $8,000,000 is now being offered for sale
for the reason that it-is anticipated that the earnings will provide for part
of the new construction work and leave $500,000 of the issue for cancellation.
corporation
the State this
Review.
and
Assessment
sales and
income,
distributed to the counties in
and interest solely out of the Electric
Light and Power Department of the city.
of the above rates, with or without
principal
of the Electric
1947; $2,500, 1948 5o 1955,
and
ADAMS SCHOOL
DISTRICT
NO.
11
(P. O. Adams), Kan.—COR-
RECTION—In connection with the report given in jbhese columns early in
June to the effect that $18,000 2% % semi-annual auditorium construction
bonds had
been
by
purchased
the State of Kansas—V. 142,
p.
4059—we
informed that the State purchased $7,000 of the total issue at par,
are now
the remaining $11,000 to be furnished
Due $1,000 from 1937 to 1943, incl.
by the Works Progress Administration.
HAMILTON, Kan.—BONDS AUTHORIZED—An ordinance has been
passed which authorizes the issuance of $22,000 refunding bonds.
HILLSBORO SCHOOL
DISTRICT, Kan .—BONDS VOTED—A bond
issue of $60,000 for construction of a high school building has been approved
by the voters.
TAMPICO, 111.—BONDS DEFEATED—-At the election held on July 24
issue $13,000 road bonds.
HUTCHINSON,
the voters defeated the proposal to
been
Kan.—BONDS
which provides
adopted
for
AUTHORIZED—An ordinance* has
the issuance of $13,909 street paving
bonds.
INDIANA
LA
•
Ind.—BOND SALE—C. W. McNear & Co. of Chicago
have purchased an issue of $138,000 4% sewage works revenue bonds.
Dated April 1, 1936.
Denom. $1,000.
Due as follows:
$4,000, 1938
and 1939; $5,000, 1940 to 1942 incl.; $6,000, 1943 to 1946 incl.; $7,000,
1947 to 1949 incl.; $8,000, 1950 and 1951, and $9,000 from 1952 to 1957
incl.
Principal and interest (A. & O.) payable at the Chase National
Bank, New York City, or at the City Treasurer's office.
Legality approved
by Chapman & Cutler of Chicago.
PORTE,
MICHIGAN CITY,
Ind.—BOND SALE—Bonniwell, Neil & Camden.
Inc., of Chicago recently purchased and are now offering for public sub¬
scription a new issue of $438,000 4% coupon, registerable as to principal,
sewage works revenue bonds.
They are priced to yield from 2% to 3.60%,
according to maturity.
Dated Aug. 1, 1934.
Denom. $1,000.
Due
Aug. 1 as follows:
$10,000, 1939 to 1942 incl.; $15,000, 1943 to 1954 incl.;
$16,000 from 1955 to 1957 incl., and $20,000 from 1958 to 1965 incl.
Principal and interest (F. & A.) payable at the Continental Illinois National
Bank & Trust Co., Chicago, or at the City Treasurer's office.
The bonds
are non-callable and have been approved as to legality by Matson,
Ross,
McCord & Clifford of Indianapolis.
These bonds, in the opinion of counsel,
constitute valid and binding obligations of Michigan City, payable solely
from and constitute a first charge upon all the net revenues derived from
the operation of the municipal sewage system.
The city has by ordinance
covenanted and agreed to charge and collect such rates for sewage service
as will provide sufficient revenues at all times to pay all costs of operation
and maintenance and principal and interest on these bonds when due.
These bonds were issued to provide funds for the construction of a sewage
treatment plant and improvements and extensions to the municipal sewage
system of Michigan City, and are issued under provisions of Chapter 61,
Acts of the General Assembly of Indiana,
Special Session of 1932, as
IOLA, Kan.—BOND ELECTION POSTPONED—An election scheduled
for Aug. 4 to vote on a proposed $30,000 jail bond issue was postponed to
November.
*
'
LEBANON,
LONGFORD,
Total bonded debt
authorized
$16,500
VOTED—The
Kan.—BONDS
citizens
have
voted
the question of issuing $10,000 water works bonds.
MADISON, Kan.—BONDS TO BE REFUNDED—At
of
the
City
bonds at
The
new
Council
it
was
a recent session
decided to refund $24,500 outstanding 5%
C. Atkins & Co. of Topeka.
lower rate of interest, through L.
bonds will bear interest at 3 H %
a
PROTECTION,
Kan .—BONDS
AUTHORIZED—The
City
Counci1
recently authorized the issuance of $19,000 water works refunding bonds.
ST.
PAUL, Kan.—BONDS VOTED—A proposed $37,000 bond issue for
construction of water works and sewers
was
approved by the voters at
recent election.
,
a
„
•
SHAWNEE COUNTY (P. O. Topeka), Kan.—BOND SALE—Beecroft,
Cole & Co„ of Topeka were awarded on July 21 an issue of $24,500 2^%
public works relief bonds at a price of 102.12.
on
WALLACE, Kan.—BOND ELECTION—A special election will be held
Aug. 17 at which a proposal to issue $14,000 water works bonds will be
submitted
to
the
voters.
PLAINS,
Kan.—BONDS AUTHORIZED—An
ordinance
has
been passed authorizing the issuance of $37,000 refunding bonds.
184,100
:
-
KENTUCKY
Population, 1930 United States census, 26,735.
bonds or $354,000
water revenue bonds.
Sinking fund for water revenue bonds is $50,000.
The above statement does not include the debt of any other political
subdivision which has the power to levy taxes within the city.
*
recently
$28,627,768
Assessed valuation, 1936
*
on
WEST
Officially Reported June 16, 1936)
SALE—The
Lebanon
favorably
amended.
Financial Statement (as
Kaii.—BOND
waterworks bond issue has been sold to the First National Bank
at par.
The bonds will bear 3X% interest, payable semi¬
annually on March 1 and Sept. 1.
Denom. $500.
Dated Sept. 1, 1936.
Prin. and int. payable at the State Treasurer's office in Topeka.
Due
Sept. 1, 1946; callable on any interest payment date.
coupon
of
Does not include this issue of
$438,009
OAK GROVE SCHOOL TOWNSHIP
sewer revenue
(P
O
Oxford), Ind —BOND
SALE—The $15,000 coupon school bonds offered on Aug. 1—V. 143, p.
798—were awarded to Jackson-Ewert, Inc. of Indianapolis as 3Hs at a
premium of $678, equal to 104.52, a basis of about 2.86%.
Dated July 1,
1936.
Interest payable Jan. 1 and July 1.
Due $500 on Jan. 1 and July 1
in each of the years from 1937 to 1951, inclusive.
;
ROCHESTER, Ind.—BOND SALE—The $8,500 airport
bonds offered
Inc., of
*'
HOPKINS
COUNTY
O.
Madisonville),
Ky.—BONDS SOLD—
KENTUCKY,
State
of—WARRANTS
CALLED-^- State
Treasurer
Buckingham, July 24, called in for payment outstanding interest-bearing
warrants against the general expenditure fund amounting to $493,475.56.
Interest
on the warrants will cease Aug. 5.
Since Jan. 1, Mr. Buckingham has redeemed general expenditure warrants
totaling $6,214,839.50 ana road warrants amounting to $3,413,015.49.
Redemption of the general expenditure warrants called July 24 will reduce
the warrants against this fund to $17,468,014.72.
All outstanding road
warrants were redeemed prior to April 1.
July 24—V. 143, p. 627—were awarded to Jackson-Ewert,
Indianapolis as 3s at a premium of $108, equal to 101.261.
on
(P.
It is stated that $60,000 refunding bonds have been sold.
LOUISIANA
ABBEVILLE, La.—BOND ELECTION—It is reported that an election
be held on Sept. 15 in order to vote on the issuance of $175,000 in
sewage system and disposal plant bonds.
will
Iowa
Municipals
Polk-Peterson Corporation
Des Koines
Building
Waterloo
A.
T.
&
Sioux City
Davenport
Iowa City
Cedar Rapids
CAMERON
At
MOINES
DES
Ottumwa
T.
BASILE SCHOOL DISTRICT,
La.—BONDS VOTED—An election
resulted in approval of a proposed bond issue amounting to
$152,000, for construction of a gymnasium and other school facilities.
held recently
Sioux Falls,
S. D.
Teletype: DESM 31
an
BUFFALO
(P. O. Aurora), Iowa—BOND
28—V. 143, p. 627—were awarded
bid of par for 3^s.
Dated
Due $500 yearly beginning Jan. 1, 1938.
SCHOOL
TOWNSHIP
SALE—The $3,000 bonds offered on July
to
the White-Phillips Corp. of Davenport on a
July 1, 1936.
(P.
O.
Cameron),
La.—BOND ELECTION—
jail bonds will be submitted to the voters.
FRANKLIN PARISH (P. O. Winnsboro), La.—BONDS NOT SOLD—
No buyer was located for the $15,000 School District Ward No. 8 bonds
which were offered on Aug. 4—V. 143, p. 799.
The issue will be readvertised.
IOWA
PARISH
election to be held on Aug. 25 a proposition to issue $66,000 court¬
house and
Dated Sept. 1, 1936.
Due serially for 15 years.
DAVIS
PARISH
SUB DRAINAGE DISTRICT A,
DRAINAGE DISTRICT NO. 1'OP. O. Thornwell), La.—
BOND SALE—The $27,000 bonds described below, which were offered
JEFFERSON
GRAVITY
on
July
Charles
27—V.
at
par
143, p.
468'—were awarded to Charles A.
and accrued interest:
Fay of Lake
Financial
Volume 143
$16,500 drainage bonas.
Due Nov. 1 as follows: $500 from 1937 to 1939,
inel.; $1,000 from 1940 to 1948, incl.; and $1,500 from 1949 to
1952, incl.
The bonds are to be payable from and secured by an
acreage tax or forced contribution of 20 cents per acre per year,
ou each acre of land in the
District, less 2 M cents per acre reserved
and set aside annually for maintenance purposes, as required by
law.
10,500 drainage bonds.
Due Nov. 1 as follows: $500 from 1937 to 1947,
incl., and $1,000 from 1948 to 1952, incl.
Payable and secured
by an ad valorem tax on all the taxable property in the District.
All of the bonds will be dated Nov. 1,
JEFFERSON
N°-
DAVIS
PARISH
Real, personal, poll and motor vehicle taxes committee for collection for
1935 amount to $10,856,530 of which $10,458,272 or over 96% has been
cohected to the close of business July 31, 1936.
Taxes of 1934 of all kinds outstanding at the close of business July 31,
1936, $26,710 or less than 3-10 of 1% of the total committed. Real estate
taxes for 1934 were about
99.98% collected as of the same date.
Taxes of 1933 of all kinds outstanding at the close of business July 31,
1936, $715
at par.
No other bid was received for the bonds.
Due from Nov. 1, 1937 to 1952, inclusive.
SCHOOL DISTRICT,
Aug. 12 the citizens of the district will vote
high school building bonds.
Dated Nov. 1, 1936.
La.—BOND ELECTION—On
on a proposal to issue $35,000
less than 1-100 of 1% of the total committed.
or
No real estate taxes of 1933 are outstanding.
No taxes of any kind for 1932 or previous years
•Tax rate:
1934, $31.60;
GRAVITY DRAINAGE DISTRICT
(P. O. Thornwell), La.—BOND SALE—1The $10,500 issue of
Cavity Sub-drainage District A coupon bonds offered for sale on July 27—
V. 143, p. 468—was purchased
by C. A. Fay, of Lake Charles, La., as 6s,
957
Taxes and Other Information
1936.
.1
MAMOU HIGH
Chronicle
remain unpaid.
1935, $35.80: 1936, $35.80.
m
*
Valuation for 1936 including estimated valuation of motor vehicles,
$297,253,500.
>
After deducting water debt and sinking funds from total debt, based on
1930 census figures of 195,311, the per capita bonded debt of Worcester
was on Aug. 6, 1936, $44.22.
The net bonded debt figured in this way is
$8,636,660, which is a net bonded debt of 2.91% of the 1936 valuation
above mentioned."
Sinking funds
on
Aug. 6, 1936, were $424,340 and they, exceed the debt
which they are to pay by $174,340.
NEW
ORLEANS, La.—BONDS OFFERED FOR INVESTMENT—The
Chase National Bank, R. W.
Pressprich & Co. and Equitable Securities
Corp. offered on Aug. 4 $935,000 4)4 % bonds, maturing from 1942 to 1980
inclusive, at prices to yield 2.60% to 3.50%, according to maturity;
These
serial gold sewerage, water and
drainage bonds constitute, in the opinion of
counsel, general obligations of the City of New Orleans, payable as to both
principal and interest from unlimited ad valorem taxes levied on all taxable
property therein.
The bonds are legal investment for savings banks and
trust funds in New York
PINE
PRAIRIE
We Buy for
i
MICHIGAN MUNICIPALS
State, according to the bankers.
SCHOOL
DISTRICT
BONDS VOTED—At the election held on
voters approved the issuance of the
$40,000
(P. O. Ville Platte) La.—
July 6—V. 142, p. 4218—the
in school construction bonds.
Cray, McFawn & Company
DETROIT
PLAQUEMINE, La .—BOND
on
$80,000
ELECTION—The City Council has ordered
Aug. 25 for the purpose of voting on a proposal to issue
bonds.
sewer
RAPIDES PARISH CONSOLIDATED ROAD DISTRICT A, WARD 7
(P. O. Alexandria), La.—BOND ELECTION—The Police Jury has called
election for Aug. 18 at which a proposition to issue $30,000 bonds will
be submitted to the voters.
MICHIGAN
OF
BONDS—Press reports
the
city contemplates an early offering of about $6,200,000
bonds, consisting in the main of one- to 10-year relief obligations.
BOSTON, Mass .—RATE OF IN TERES T—The $1,500,000 9 5-6 months'
notes
sold
publicly offered recently by Halsey,
1.45% interest.
Stuart &
of Boston
Co.
was
at
BRIDGEWATER, Mass.—TEMPORARY LOAN—Newton, Abbe & Co.
of Boston have purchased an issue of $50,000 notes at
Due
Nov.
named
a
27,
rate of
1936.
The
Bridgewater
Trust
Co.,
BENTON HARBOR,
Mich.—BONDS VOTED—At an election held on
July 27 the residents voted 718 to 185 in favor of the issuance of $30,000
city hall construction bonds.
MASSACHUSETTS
BOSTON, Mass.—PLANS EARLY SALE
that
A. T. T. Tel. DET347
Telephone CHerry 6828
an
state
Our Own Account
0.347% discount.
only other bidder,
0.42%.
CAMBRIDGE, Mass.—BOND OFFERING—Sealed bids will be received
by the City Treasurer until noon on Aug. 12 for the purchase of $250,000
municipal relief bonds, dated Aug. 1, 1936, and due serially from 1937 to
1946 incl.
Rate of interest to be expressed by the bidder.
CHELSEA, Mich.—BONDS VOTED—By
a
vote of
122 to 66 the resi¬
dents of this village on July 27 gave their approval to a
$29,700
sewage treatment
proposal to issue
plant bonds.
ESCANABA, Mich.—BOND SALE—Barcus, Kindred & Co. of Chicago
bonds, due serially from
have purchased an issue of $45,000 street paving
1937 to 1941, inclusive.
FARMINGTON, Mich.—BOND SALE—The $70,000 refunding bonds
on Aug. 6—V. 143, p. 799—were awarded to Cray, McFawn & Co.
as 3s at a premium of $61, equal to 100.087, a basis of about
2.99%. Stranahan, Harris & Co. of Toledo were second high, bidding for
$25,000 3)4s and $45,000 3s. Dated Aug. 1, 1936. Due Oct. 15 as follows:
$4,000, 1937 to 1941; and $5,000, 1952 to 1951.
offered
of Detroit
GLADSTONE, Mich.—BOND OFFERING—'The City Commission will
11, for the purchase of $25,900 special assessment
receive bids until Aug.
notes offered
paving bonds and $2,000 special assessment sewer bonds.
Bonds will bear
interest at 5% and will be payable serially over a period of five years.
Certified check for 5%, required.
In V. 143, p. 799 it was reported thdt this
134s, at
offering would take place on Aug
CANTON, Mass.—NOTE SALE—The $10,000
coupon municipal relief
on Aug. 4 were awarded to Tyler. Buttrick & Co. of Boston as
price of 100.511, a basis of about 1.08% . Dated Aug. 1, 1936
and due $2,000 on Aug. 1 from 1937 to
1941, incl.
Other bids, all for
l^s, were as follows:
a
Bidder—
Rale Bid
Faxon, Gade & Co
100.24
Merchants National Bank of Boston
Second National Bank of Boston
100.24
Whiting, Weeks & Knowles
100.19
Jackson & Curtis,
100.04
-
100.22
CONCORD,
Mass.—NOTE SALE—The $20,000 coupon water de¬
partmental equipment notes offered on Aug. 7 were awarded to Tyler,
Buttrick & Co. of Boston as l.^s at a price of 100.666, a basis of about
1.02%.
Newton, Abbe & Co. of Boston bid 100.54 for 134s.
Dated
Aug. 1, 1936.
Due $4,000 yearly on Aug. 1 from 1937 to 1941.
HOLYOKE, Mass.—NOTE SALE—The $350,000 revenue anticipation
temporary loan notes offered on Aug. 6 were awarded to Leavitt & Co. of
on a .39% discount basis, plus a premium of $1.75.
Notes are
dated Aug. 7, 1936, and will be payable Nov. 27, 1936.
New York
LOWELL, Mass.—BOND SALE—The $300,000
able,
coupon,
fully register-
on Aug. 6 were awarded to Tyler,
price of 100.199 for 234s, a basis of about
municipal relief bonds offered
Buttrick & Co. of Boston, at
a
2.21%.
Biyth & Co. bid 100.788 for 2^s.
$30,000 yearly on Aug. 1 from 1937 to 1946.
Dated Aug.
1,
1936.
.
Due
'
NEWTON, Mass.—BONDS AUTHORIZED—The Board of Aldermen
recently authorized the issuance of $100,000 street department bonds and
$50,000 water department bonds.
NORFOLK COUNTY (P. O. Dedham), Mass.—NOTE SALE—The
$20,000 coupon tuberculosis hospital home loan bonds offered on Aug. 4—
V. 143, p. 799—were awarded to the Granite Trust Co. of Quincy as 134s
at a price of 100.7125, a basis of about .99%.
The Second National Bank
of Boston bid 100.639 for 134s.
Dated April 15, 1936.
Due $4,000 yearly
on April 15 from 1937 to 1941.
WINTHROP, Mass.—NOTE SALE—The issue of $50,000 notes offered
on
Aug. 3
was awarded to the
discount.
Due Dec. 28, 1936.
Second National Bank of Boston at 0.287%
Other bids were as follows:
Bidder—
Discount
New England
Trust Co—
Newton, Abbe & Co
0.295%
-_0.30%
-0.328%
0.34%
-
Jackson & Curtis
First National Bank, Boston-
—
-
—
•
WORCESTER, Mass.—BOND OFFERING— Harold J. Tunison, City
Treasurer, will receive bids until 11 a. m. (Daylight Saving Time) Aug. 11
for the purchase of the following coupon, fully registerable, bonds:
loan bonds. Due $8,000 on April 1 in 1937 and 1938:
and $7,000 yearly on April 1 from 1939 to 1946.
289,000 municipal relief loan bonds.
Due $29,000 yearly on April 1 from
1937 to 1945: and $28,000, April 1, 1946.
$72,000 trunk
Bidders
sewers
are to
name a
uniform rate of interest for all the bonds, making
from 134% and 1%%.
Denom. $1,000.
Dated April 1, 1936.
Principal and semi-annual interest (April 1 and Oct. 1) payable at the First
National Bank of Boston, in Boston.
Certified check for 1% of amount of
choice
bonds bid for,
payable to the City of Worcester, required.
Bonds will be
certified by the First National Bank of Boston: the legal opinion of Ropes,
Gray, Boyden & Perkins of Boston will be furnished by the city. Delivery
to be made on or about Aug. 25.
Debt Statement and Borrowing Capacity Aug. 6, 1936
Aver, val., less abatements for 1933, 1934
Debt limit 234 % of
Total bonded debt
and 1935
$307,980,820.00
7,699,520.50
12,035,000.00
the same
Exempt—
.
18.
,
GRAND BLANC,
election
on
Mich .—BOND ELECTION—The city will hold a special
Aug. 22 for the purpose of votihg on the question of issuing
$35,000 water works bonds.
(State of)—OFFERING OF COVERT ROAD REFUND¬
DV Van Wagoner, State Highway Commissioner,
bids will be received by Russell A. Anderson,
Director of Finance, 332 Administration Bldg., State Highway Depart¬
ment, Lansing, until 11 a. m. (Eastern Standard Time) on Aug. 10, for the
purchase at not less than par and accrued interest of $919,000 2% Covert
Road highway refunding
(Wayne County portion) bonds, divided as
MICHIGAN
ING BONDS—Murray
that sealed
announces
follows:
Asst. District No. 471 bonds, due May 1 1940.
Asst. District No. 471 bonds, due May 1, 1939.
Asst. District No. 473 bonds, due May 1, 1940.
Asst. District No. 473 bonds, due May 1, 1939.
Asst. District No. 473A bonds, due May 1, 1940.
Asst.'District No. 473A bonds, due May 1, 1939.
Asst. District No. 474 bonds, due May 1, 1940.
Asst. District No. 474 bonds, due May 1, 1939.
Asst. District No. 475 bonds, due May 1, 1940.
Asst. District No. 475 bonds, due May 1, 1939.
Asst. District No. 481 bonds, due May 1, 1940.
Asst. District No. 481 bonds, due May 1, 1939.
Asst. District No. 492 bonds, due May 1, 1940.
Asst. District No. 492 bonds, due May 1, 1939.
All of the bonds are dated May 1, 1936 and no bid will be accepted which
is not for all the issues listed above.
Each proposal must be accompanied
by a certified check for $10,000.
Printed bonds will be furnished the
successful bidder, together with the legal opinion of Miller, Canfield,
$198,000 Road
66,000 Road
107,000 Road
54,000 Road
47,000 Road
24,000 Road
55,000 Road
28,000 Road
97,000 Road
49,000 Road
123,000 Road
41,000 Road
20,000 Road
10,000 Road
Paddock & Stone of Detroit.
MONROE COUNTY
(P. O. Monroe), Mich.—SEEKS TENDERS OF
BONDS—F. E. Gillespie, Clerk, announces
Road Commissioners will receive sealed tenders
HIGHWAY REFUNDING
that the Board of County
until 11 a. m.
more
(Eastern Standard Time) on Aug. 25 for the purchase at not
accrued interest of $112,000 highway improvement bonds
1933 and described as follows:
than par and
dated May 1,
§2,000
2,000
1,000
32
34
35
4 H%
5-1-38
54
H%
5-1-39
55
2,000
8,000
4
5-1-39
5)4%
5-1-40
5-1-39
57
2,000
5)4%
5-1-40
5-1-40
58
5%
5-1-43
5-1-39
59
1,000
1.C00
5—1—39
60
4)4%
5-1-39
61
5-1-39
62
49
3,000
50
50
1,000
3,000
51
5,000
51
52
3,000
5,000
53
500
.
4
42
47
48
of
5-1-40
4 H%
4)4%
4 H%
4H%
40
41
Date
Maturity
4«%
l.OOO3,000
3,000
2,000
4,000
8,000
3,000
37
Interest
1,000
4)4%
2,000
39
Rate of
Amount
53
AH%
4)4%
4)4%
4M~%
'
2,000
36
DM.No.
5-1-37
14,500
35
Maturity
Interest
Amount
32
Ass't
Dale of
Rate of
Ass't
DM. No.
ft.nnn
o,UUU
.
5-1-39
65
5)4%
5 H%
1,000
5-1-40
6%
1,000
3,000
66
5-1-40
—*H%~ —5-1-42
3,000
5-1-39
4)4%
6%
5-1-40
5-1-40
5-1-41
67
1,000
4)4%
5-1-41
5-1-40
67
2,000
*A%
4M%
5-1-40
68
1,000
4)4%
4)4%
5-1-41
5-1-39
69
2,000
4 H%
5-1-40
70
2,000
5—1—40
5-1-39
71
2,000
5-1-40
72-A
3,000
4)4%
5-1-42
5-1-40
4J*%
4 H%
5 H%
4 H%
72-B
4)4%
5-1-41
2,000
5-1-41
5-1-41
5-1-39
All tenders shall be submitted in writing sealed
and marked "Tender of
fully describe the bonds tendered,
uuuus>,
5-1-42
5-1-42
4)4%
4)4%
4)4%
stipulating lowest
price or prices at which owner of such bonds will sell the same to the sink¬
ing fund.
No tenders at prices above par and interest will be considered.
Memorial auditorium debt
$250,000.00
1,028,000.00
voters
Water debt (serial)
2,974,000.00
school building
Park debt
—
Relief debt
Financial year adjustment
Flood damage loan
-
-
loan
—
,
ST.
SHELBY, Mich —BONDS VOTED—By a vote of 102 to 42 the residents
864,000.00
250,000.00
of Shelby on July 22 approved the issuance
$4,334,000.00
$424,340.41
$174,340.41
$4,159,659.59
$3,539,860.91
of $10,000 street repaving bonds.
STEPHENSON TOWNSHIP SCHOOL DISTRICT
son), Mich.—BONDS VOTED—The township recently
the issuance of $10,000 school building bonds.
(P. O. Stephen¬
voted favorably
on
(P: O. Detroit), Mich.—OFFERING OF COVERT
ROAD REFUNDING BONDS—Sealed bids addressed to the County Road
Commission, 3800 Barium Tower Bldg., Detroit, will be received until
11 a. m. (Eastern Standard Time) on Aug. 10 for the purchase of $207,000
2% Covert Road Highway refunding (Wayne County portion) bonds
WAYNE COUNTY
250,000.00
—
Borrowing capacity within debt limit.
DISTRICT, Mich.—BONDS VOTED—The
216 to 135 in favor of the issuance of $80,000
SCHOOL
2,335,000.00
7,701,000.00
Total sinking funds
Less: Park loan fund
JOSEPH
recently balloted
bonds.
divided
as
follows:
.
'
Financial
958
$45,000
23,000
7,000
11,000
20,000
7,000
Road
Road
Road
Road
Road
Road
Asst.
Asst.
Asst.
Asst.
Asst.
Asst.
All of the bonds
Dist.
Dist.
Dist.
Dist.
Dist.
Dist.
$6,000
45,000
8,000
5,000
30,000
1
2
4
5
7
9
No.
No.
No.
No.
No.
No.
Road
Road
Road
Road
Road
Asst.
Asst.
Asst.
Asst.
Asst.
Dist.
Dist.
Dist.
Dist.
Dist.
No.
No.
No.
No.
No.
NEVADA, Mo.—BOND ELECTION—A special city election is to be
on Aug. 18 for the purpose of voting on the question of issuing $35,000
10]
11
12
held
city hospital bonds.
13
14
PLATTSBURG, Mo.—BONDS DEFEATED—A proposed $87,000 bond
a city-owned and operated electric light plant was defeated by
issue for
the voters at
dated May 1, 1936 and mature May 1, 1938.
are
Aug. 8, 1936
Chronicle
a
recent election.
Bids
purchase of all the above bonds at par and accrued
interest.
A certified check for $2,000 must accompany each proposal.
All bonds payable at the National Bank of Detroit.
Printed bonds,
together with legal opinion of Miller, Canfield, Paddock & Stone of Detroit
will be furnished to the successful bidder without cost.
must be submitted for
Northwestern Municipals
ST. LOUIS, Mo.—BONDS DEFEATED—At the city
held on Aug. 4—V. 143, p. 470—the voters defeated the
equipment.
Minnesota, North and South Dakota, Montana,
<
MONTANA
Oregon, Washington
LEWIS AND CLARK COUNTY SCHOOL DISTRICT NO. 1 (P. O.
Helena),
Mont.—BOND OFFERING—As reported in these columns
WELLS-DICKEY COMPANY
recently, the district will sell $100,000 school building bonds on Aug. 25..
J. F. McBride, District Clerk, will receive bids until 8 p. m. on that date.
Amortization bonds will be the first choice and serial bonds will be the second
choice of the school board.
If amortization bonds are sold, the entire issue
Teletype—Mpls287
Telephone—Minneapolis Atlantic 4201
may be put into one single bond, or divided into several
of trustees may determine upon at the time of the sale,
MINNESOTA
ADRIAN, Minn —BOND SALE—An issue of $80,000 4% street paving
bonds
has been awarded to
Co. of St. Paul at
Kalman &
premium of
a
$100, equal to 100.125.
.
BATTLE LAKE, Minn.—BOND SALE—The $28,000 3% semi-annual
water works bonds that were approved by the voters at an election held on
July 14 have been purchased by the State of Minnesota.
(This report was given in these columns recently under the incorrect
caption of "Battle Creek, Minn.")
DETROIT
LAKES,
Minn .—CERTIFICATE
$12,300
certificates of indebtedness described below, which were offered on Aug. 3—
V. 143, p. 475 and 800—were awarded to the City Water and Light Dept.:
$10,000 3% street improvement certificates. Due serially in 2 to 11 years.
2,300 3 % street improvement certificates. Due serially in 1 to 10 years.
SALE—The
GLENCOE, Minn.—BONDS VOTED—The City Clerk states that at the
election held
July 28—V. 143, p. 470—the voters approved the issuance of
the $75,000 in municipal light, heat and power plant bonds.
on
GROVELAND INDEPENDENT SCHOOL DISTRICT NO. 53, Minn.
—BOND OFFERING—C. H. Board, Clerk of the Board of Education, will
receive bids until 4 p.m., Aug. 18 for the purchase of $30,000 school building
Certified check for 5 %, required.
bonds.
COUNTY
HENNEPIN
53
(P.
O.
INDEPENDENT
SCHOOL
DISTRICT
NO.
OFFERING—Sealed bids will be
Aug. 18, according to report, by C. H. Board,
District Clerk, for the purchase of a $30,000 issue of school bonds.
A certi¬
fied check for 5% of the bid is required.
The bonds will be sold for not less than par, and all bidders must state
the lowest rate of interest at which they will purchase the bonds at par.
must be accompanied by certified check in the sum of $10,000,
payable to the board of trustees, or the clerk of the board.
Approving opinion of Masslich and Mitchell of New York City will be
Bids
furnished.
ROOSEVELT COUNTY tP. O. Wolf Point), Mont .—BONDS CALLED
6% bonds are said to have been
office of the County Treasurer:
On July 1—Nos. 1 to 23 of School District No.
Due on July 1, 1945.
25 to 32 of School District No. 17 bonds.
Dated Feb. 2, 1920.
$1,000.
Denom.
COUNTY
(P. O. Pientywood), Mont.-—BONDS TO BE
SOLD LOCALLY—The $50,000 courthouse and jail bonds recently approved
by the voters—V. 143, p. 800—will be sold locally.
on
NEBRASKA
OMAHA,
Action in that direction will await approval of
Administration portion of the cost of the project.
MOWER COUNTY INDEPENDENT SCHOOL DISTRICT NO. 27
(P. O. Austin), Minn.—BOND OFFERING—R. C. Alderson, Clerk of the
will receive bids until 8 p. m. Aug. 14 for the purchase of
$150,000 school building bonds to bear interest at rate designated by the
successful bidder, but not to exceed 4%.
Denom. $1,000.
Dated Aug. 1,
1936.
Interest payable semi-annually.
Due May 1 as follows: $8,000,
1939 to 1950, and $9,000, 1951 to 1956.
Prin. and int. payable at any
suitable bank or trust company designated by the purchaser.
Certified
check for $1,000, payable to the district, required.
Approving opinion of
Junell, Driscoll, Fletcher, Dorsey & Barker of Minneapolis will be furnished
to the purchaser.
The District will furnish the executed bonds.
SCHOOL
DISTRICT, Minn.—BONDS DEFEATED—At
election held on Aug. 4 the voters of the district balloted 761 to 463
against the issuance of $100,000 school building bonds.
an
MUNICIPALS
OFFERING
AND
WANTED
DOUGLAS COUNTY, LINCOLN
NEBRASKA
OTHER
ISSUES
THE NATIONAL COMPANY
OF OMAHA
School Board,
NEW ULM
Denom. $500.
45 bonds.
Dated July 1, 1915.
On Aug. 1—Nos.
according to law.
Works Progress
called for payment at the
—The following
MOORHEAD, Minn.—BONDS VOTED—At an election held on July 21
the voters approved an issue of $20,000 high school addition bonds by a
count of 124 to 72.
They will mature in about five years and although
local banks
have offered to take the issue, it will be offered at public
sale
bonds as the board
both principal and
during a period of 20
years from the date of issue.
If serial bonds are issued they will be in the
amount of $1,000 each.
The sum of $5,000 will become payable on July 1,
1937, and alike amount on the same day each year thereafter.
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 Jan. 1 and July 1, and will be redeemable in full on any interest
paying date from and after five years from the date of issue.
be payable in semi-annaul instalments
interest to
SHERIDAN
Minn.—BOND
Wayzata),
received until 4 p. m.
primary election
four propositions
bonds by failing to give the measures the
required two-thirds majorities.
Only one suggested an increase in the
city's bonded indebtedness amounting to $250,000.
The first two pro¬
posals recommended that the $1,900,000 of bonds authorized in May,
1934, for Memorial Plaza project be reduced to $1,400,000 and the $500,000
balance be used for sewer construction.
The third proposed use of the
$100,000 remaining from the 1923 bond issue for purchase of land to be
used for improvements, while the fourth proposition would have recom¬
mended issuance of $250,000 of bonds for new
fire stations and fire
for the issuance of $2,250,000 in
First National Bank Bldg-
A. T. & T. Teletype OMA 81
NEBRASKA
BROKEN BOW, Neb.—BOND SALE CONTRACT—The city is reported
a contract with Steinauer & Schweser of Lincoln, for
the purchase of $73,000 4% light plant revenue bonds.
to have entered into
COLUMBUS,
ELECTION—An
Neb.—BOND
election is
scheduled
for Aug. 20 to vote on the proposed issuance of
municipal electric distribution system bonds.
said to be
$250,000 in
KEARNEY, Neb.—BONDS VOTED—The citizens have voted in favor
for construction of a swimming pool and
of the issuance of $35,000 bonds
bath house.
MISSISSIPPI MUNICIPALS
MASKELL,
Bought—Sold—Quoted
TELEPHOl
TELEPHONE RAYMOND 1189
AND
FIFTH
SUPERVISORS
LIBERTY, Miss.—BOND ELECTION—The voters will
Aug. 11 to decide whether
or not
Assessment Wednesday fixed
the grand assessed valuation of the State of $2,060,835,168, as determined
recently by the board from valuations of counties, railroads and franchises.
The 1935 levy was 2.15 mills.
ROAD
DISTRICT (P. O] Jackson) Miss.—BONDS APPROVED—An issue of
$184,000 4% road refunding bonds is said to hav|e been approved as to
legality by Charles & Trauernicht, of St. Louis.
on
July 29:
"The Nebraska Board of Equalization and
the 1936 State levy at 1.76 mills on each dollar of valuation, the lowest
rate in 15 years or since property has been assessed for its full value.
"The levy is designed to raise $3,627,069 in State taxes on the basis of
MISSISSIPPI
FIRST
have
NEBRASKA, State of—1936 TAX LEVY LOWEST IN 15 YEARS—
dispatch out of Lincoln
on
New Orleans
COUNTY
Trustees
We quote in part as follows from an Associated Press
INCORPORATED
HINDS
Village
will be voted upon.
Selui r IT cJones
A. T. T. TEL. N. O. 180
ELECTION—The
Neb.—BOND
passed an ordinance providing that a special election is to be neld on
Aug. 7 at which a proposal to issue $35,000 water system installation bonds
"The 1936
grand assessed valuations of the State was $30,592,631 higher
The 1936 valuation total
than the 1935 total, which was $2,030,243,537.
was the highest since 1921."
also
NEVADA
to the polls
go
the city is to issue $10,000 water works
bonds.
TONOPAH, Nev.—BONDS DEFEATED—A proposal to issue $30,000
bonds was defeated by the voters at a recent special election.
sewer
QUITMAN COUNTY (P. O. Marks) Miss.—ADDITIONAL INFOR¬
MATION—In connection with the report given in these columns recently,
the Board of Gdunty Supervisors had decided to refund the out¬
NEW
that
standing bonded indebtedness of the road districts in the county through
the issuance of county-wide obligations—V. 143, p. 800—it is now reported
that the new bonds, will bear interest at 4%, wfeereas the various district
bonds bear 5% and 6% interest.
of
MISSOURI
Aug. 11 at which the voters will pass on the question of issuing $20,000
Mo.—BONDS VOTED—The voters at a recent election
their approval to a proposed $15,000 bond issue for sewer construction.
CARROLLTON
TOWNSHIP
O.
(P.
ELECTION—An election is to be held
issue
on
Carrollton),
Aug. 22 at which
Mo.—BOND
a
proposal to
$55,000 highway bonds will be voted upon.
GOLDEN
CITY,
for construction of
a
Mo.—BONDS
APPROVED—A $30,000
has been approved.
bond
issue
water works system
HERCULANEUM
SCHOOL
DISTRICT,
Mo.—BONDS
VOTED—
$17,000 school building enlargement
The district has voted the issuance of
bonds.
JACKSON
COUNTY
(P. O. Kansas City) Mo.—BONDS VOTED—
election held on Aug. 4—V. 142, p. 4379—the voters are
the issuance of the $2,500,000 in bonds to take up
judgment funding bonds, warrants and other floating debt. It is proposed
to issue the new bonds at a rate of about 3% interest, to replace the former
obligations which bear 5% and 6% rates. An early offering of the new oonds
is anticipated.
At the primary
said to have approved
JERSEY
/
years, the Protective Committee for Holders of Bonds of Atlantic City,
New Jersey, and the city have entered into an agreement for the refunding
of all outstanding general obligation bonds and water bonds of the city.
The committee represents approximately $21,365,000 bonds.
The city has defaulted in payments due upon its bonded
bonds.
BRANSON,
gave
OFFERING—The Town Treasurer will
(Daylight Saving Time) on Aug. 12 for the
ATLANTIC CITY, N. J.—CITY AND PROTECTIVE COMMITTEE
AGREE ON REFUNDING PLAN—After negotiations extending over three
BETHANY, Mo.—BOND ELECTION—A special election will be held
construction
HAMPSHIRE
H.—BOND
NEW
61 "for" to 31 "against."
reservoir
N.
purchase of $30,000 sewer construction bonds, dated Aug. 15, 1936 and
maturing from 1937 to 1942 incl. Bidder to name one rate of interest and
tenders must be for not less than par and accrued interest.
RIPLEY, Miss.—BONDS VOTED—A recent election resulted in approval
a proposal to issue $34,100 electric light and power bonds.
The vote
was
on
HAMPTON,
receive sealed bids until 4 p. m.
since Jan.
1935 and
indebtedness
1, 1933.
However, interim arrangements were made for 1934,
1936 for the payment of such interest as the ability of the city
would permit upon bonds deposited with the committee.
A satisfactory disposition of the city's floating debt, of
which tax revenue
bonds constituted the largest single item, was essential before the adoption
of a refunding plan.
As of July 31, 1933, tax revenue and tax title bonds
outstanding in the amount of $4,480,000, of which $525,000 were
held in the City Sinking Fund.
Of the remainder $500,000 6% tax revenue
bonds were held by the New Jersey State Sinking Fund Commission.
An
were
agreement has been made that these bonds shall be funded by the issuance
of a like amount of bonds bearing interest at not to exceed 4% per annum,
payable in instalments of $50,000 per year during the years 1940 to 1949,
inclusive.
The remainder of the tax revenue bonds, $3,455,000 in amount, were
outstanding in the hands of the public, with the great bulk of them in the
hands of a few holders.
These holders refused to fund their obligations
over a period of
years.
The city accepted these obligations in payment of
delinquent taxes for the years 1930 to 1933, inclusive.
As of July 1, 1936
only $310,895 of these obligations were outstanding.
An agreement has
Volume
Financial
143
959
Chronicle
provisionsd
which appeared in our issue of Aug. 6, will be
accompanied by the approving legal opinion of Clay, Dillon & Vandewater
of New York.
In announcing the text of the program, the committee stated
that it represented the holders of
approximately $21,365,000 bonds to be
account of the
H. L. Allek & Company
New Jersey Municipal
refunded and pointed
out that various members associated with institu¬
holding an additional $2,225,000 city bonds would recommend
acceptance by these creditors of the terms of the agreement.
The Protec¬
tive Committee is composed of Henry Bruere, Chairman, Darwin R. James,
tions
Bonds
Vice-Chairman, Thomas F. Daly, James E. Gowen, Howell T. Manson,
Robert E. Miller and Gerald M. Swanstrom.
The Secretary of the com¬
mittee, to whom all inquiries pertaining to the plan should be addressed,
is Fred N. Oliver, 110 East 42nd St., New York City.
TelephocfeREcior 2-7333
A. T. & T.
T&§jpe N. Y. 1-528
100 Broadway
New York
*
ATLANTIC COUNTY (P. O. May* Landing), N. J.—STATE COM¬
MISSION APPROVES REFUNDING PLAN—The State Municipal Fi¬
nance Commission has given its approval to the so-called "Parker.Plan" for
the refunding of the county's approximately $3,307,000 of bonded debt,
MUNICIPAL BONDS
New
according to report.
Jersey and General Market Issues
B. J. Van Ingen & Co.
57 WILLIAM
A.
T.
ac.
STREET, N. Y.
T.:
Y
N.
Telephon
1-730
Newark Tel.:
Ordinances providing for the new bonds are
expected
to introduced at the
:
Aug. 12 meeting of the County Board of Freeholders
anticipated that the bond exchange will be arranged by the bond¬
holders' protective committee some time next month.
The program, it is
said, provides for the retirement of the refunding bonds as follows: 1937,
$111,000; 1938, $205,000; 1939, $265,000; 1940, $262,000; 1941, $266,000;
1942, $268,000; 1943, $297,000; 1944, $288,000; 1945, $244,000; 1946,
$198,000; 1947, $228,000; 1948, $285,000; 1949, $257,000; 1950, $133,000.
and it is
Inc.
John 4-6364
ASBURY PARK,
still
six
$1,497,-
N. J .—REVENUE RECEIPTS—During the first
months of 1936 the city collected $305,618 of the year's tax levy of
088 and $556,026 from taxes delinquent for previous years, the
Market 3-3124
outstanding from the latter source being reduced to
amount
$1,757,496, ac¬
press reports.
Cash balance on Jan. 1 was $431,690 and receipts
the first half of tne year amounted to $1,004,013.
Disbursements in
cording to
in
$20,000 Town of Kearny,
N. J.
the
beach front in the hands of
24
JERSEY
NEW
1937 and that interest thereon
The second important group of current obligations was the amounts
Atlantic County.
The city has entered into an agreement with
due
the
of six years, of the balance
of delinquent taxes due for the years 1932 and 1933 amounting, aS of
Jan. 1, 1936 to $864,370.39 and for the redemption of non-negotiable city
scrip held by the county amounting, as of Jan. 1, 1936 to $105,600.
The
delinquent taxes are to be paid at the rate of $34,200 quarterly until the
total nas been redeemed in full.
The county also holds city bonds for the
to
county providing for the payment
,
the
of
scheduled
ancial condition.
been entered into between the holders of substantially all of these unpaid
tax revenue bonds and the city, under which it is agreed that no demand
for payment will be made before Dec. 31,
shall be at the rate of 3% per annum.
State Commission were not heard as
Supreme Court at Camden on Aug. 3, owing to the absence of
one of the jurists.
Justice Frank T. Lloyd, who refused to conduct the
hearing because of the absence of Justice Ralph Donges, declined to inter¬
fere in a writ granted previously by Justice Joseph Perskie restraining the
new Commission from exercising its powers of supervision pending a decision
on the constitutionality of the State regulatory measure.
Creditors of the
city are said to favor supervision by the Commission on the ground that
poor management of beach front properties by municipal officials in the
past was one of the principal causes of the city's current unfavorable fin¬
A. T. & T. Teletype
NWRK
a
in the State
MArket 3-1718
Raymond Blvd., Newark
REctor 2-2066
standing at
constitutionality of new Act of the 1936 Legislature, placing control
INCORPORATED
New York Wire:
period totaled $723,433, the cash balance on June 30
BEACH FRONT HEARING DEFERRED—Hearing of arguments on
Colyer, Robinson $ Company
1180
same
$712,269.
4% % Water Bonds, due Dec. 1, 1946
To Yield 3.20%
over a period
onds mature $7u,600 State school taxes in the amount of $282,400.
Sayment of delinquent annually during the years 1937 to 1940, inclusive.
These
BEVERLY, N. J.—BOND SALE—The $17,000 coupon or registered
bonds offered on Aug. 3—V. 143, p. 629—were awarded to
& Eastwood of Philadelphia as 4j^s at a premium of $49.30,
equal to 100.29, a basis of about 4.22%.
M. M. Freeman & Co. of Phila¬
delphia offered a premium of $141.10 for 5% bonds. Dated Aug. 1, 1936.
Due Aug. 1 as follows: $1,000, 1941 and 1942; $2,000, 1943 to 1947; $3,000,
1948; and $2,000, 1949.
refunding
Hendricks
"CAMDEN,
N. J.—PAST-DUE OBLIGATIONS TO BE PAID—George
that all overdue
E. Brunner, Director of Revenue and Finance, announces
obligations of the city will be paid upon presentation at the office of the
City Comptroller, on or before Aug. 15, 1936, after which date interest
thereon will cease.
Also, all scrip and warrants will be redeemed at the
same time and place.
V
The third large item of current
ooligations was the unpaid State road
as of Jan. 1, 1936, of $490,000
These obligations have been funded by the
of bonds maturing during the years 1938 to 1942,
taxes and soldiers' bonus taxes in the amount
and
issuance of
a
like amount
inclusive.
-
The remainder of the current debt of consequence is composed of cityscrip issued in part payment of city bills.
The city will gradually abandon
issuance of s^ripl.
As of July 1, 1936, scrip was outstanding in the amount
of $682,279, exclusive of tnat deposited with the county.
Under
the
agreement
just concluded,
ENGLEWOOD, N.
,
$100,000 respectively.
the
outstanding
general
bonds,
except those in the Atlantic City sinking fund, are to be refunded by the
an equal principal amount of term refunding bonds to be dated
J.—BOND OFFERING—Thomas J. Ahrens, City
Clerk, will receive sealed bids until 8 p.m. (Daylight Saving Time) on
Aug. 18 for the purchase of $95,000 not to exceed 6% interest coupon or
registered incinerator bonds of 1936.
Dated Sept. 1, 1936.
Denom.
$1,000.
Due Sept. 1 as follows: $10,000 from 1937 to 1945, incl., and
$5,000 in 1946.
Principal and interest (M. & S.) payable at the Chemical
Bank & Trust Co.. New York City.
Rate of interest to be expressed in a
multiple of yA of 1%.
A certified check for 2%, payable to the order of the
city, must accompany each proposal.
The approving opinion of Hawkins,
Delafield & Longfellow of New York will be furnished the successful bidder.
issuance of
July 1, 1936 and to mature Jan. 1, 1973.
The refunding bonds are to bear
interest as follows:
2)4% for 3)4 years, 3% for 3 years, 3H% for 3 years,
4% for 6 years and 4Hi% thereafter to maturity.
This sliding scale of
interest affords relief to the city in the early years and is at a level which
gives to the bondnolders a measure of assurance against further defaults,
onds held to maturity.
Set provides an average rate of approximately 4% over the life of those
It is provided that beginning with the first year the city shall appropriate
and pay into a retirement fund an amount equal to H of 1 % of the principal
amount
of the
of refunding
bonds,
which
increases throughout the life
The National Newark and Essex Banking Co. of Newark
bonds.
amount
will supervise the retirement fund.,
It is contemplated that payments to
be made into the fund will be sufficient to retire all of the refunding bonds
by or before the date of their maturity.
Refunding general bonds are redeemable through operation of the retire¬
fund at their principal amount and accrued interest: they are also
redeemable at the option of the city on any interest payment date at their
principal amount and accrued interest if redeemed prior to July 1, 1952 and
if redeemed thereafter at their principal amount plus a premium of 3 %,
together with accrued interest.
The claims for interest due during the year 1933 and interest accruing
thereafter up to July 1, 1936, to the extent that the agreement does not
provide for payment are to be waived.
In general the outstanding water bonds are to be refunded on the same
basis as the general bonds.
The interest rates stait in 1936 at 3% for two
and one-half years, 4% for 28 years and 4H% thereafter to maturity,
providing an average rate of approximately 4 % over the period for those
bonds held until maturity.
The agreement provides that the refunding water bonds will have the
same rignts with respect to operating revenues of the Water
Department
as do present water bonds.
Refunding water bonds are redeemable through
operation of the Water retirement fund and at their principal amount and
accrued interest; they are also redeemable at the option of the city on any
interest payment date at their principal amount and accrued interest if
redeemed prior to July 1, 1952, and if redeemed thereafter at their principal
amount plus a premium of 3%, together with interest.
Claims for interest due during the year 1933 and accruing thereafter
up to July 1, 1936 to the extent unpaid, are to be waived.
Bondholders who have not deposited but who wish to participate in the
refunding may do so by depositing ^their bonds with the committee's
depositary, Bank of New York & Trust Co., 48 Wall St., New York.
ment
FUNDING COMMISSION APPROVES PLAN—In approving
plan of refunding, the State Funding Commission declared that the
completion of the plan, from the standpoint of permanently
STATE
the
NEWARK,
bonds
basis, depended on the fulfillment by the city of certain
lished by the Commission as follows:
"
The holding
functions,
a
firm
estab¬
of complete tax sales as and when required by statute, and
the enforcement of the collections by all legal means.
"Maintaining an assessed valuation not lower than that on which the
approved plan is based.
"Maintaining a budget for operating expenses which shall not at any
time exceed that used in the estimates in the approved plan.
"It was the further opinion of this Commission that Auditor Gary shall
forthwith proceed to check the financial information submitted against the
city records, and secure from the city comptroller any explanatory data or
supplemental information required, which additional material shall forth¬
with be transmitted to the Chairman of this Commission who is hereby
given authority to review and pass upon same."
At its meeting last week, the City Commission authorized deposit in the
Bank of New York & Trust Co., New York,$257,000 on account of general
bonds, and $40,000 on account of water bonds, in accordance with the 1936
agreement
with the bondholders' protective committee, the amount
rep¬
resenting half the debt service moneys.
CITY, N. J .—LEGAL OPINION ON REFUNDING
new
general refunding. and water refunding bonds to be
city pursuant to the terms of the refinancing program just
by the Bondholders Protective Committee, an extended
ATLANTIC
BONDS—The
issued by the
promulgated
was
NEW BRUNSWICK,
N. J .—REFINANCES $100,000 MATURITY-
REFUNDING IMPENDING—An issue of $100,000 2% tax revenue bonds
of 1935 was sold recently to
was
any
the National Bank of New Jersey.
The sale
made as part of the refinancing of the city and it is not believed that
other municipal bonds in the State have been sold at such a low rate
of interest
.
The city's
financial advisors plan to refund $225,000 in city bonds during
The National Bank of New Jersey held $100,000 city
the current year.
bonds which would have become due next month, bearing 6% interest.
At the end of the year it will be necessary to refund $125,000 of other
city bonds.
Rather than refinance the $100,000 falling due next month and
$125,000 in December, the financial advisors recommended the 1936
refinancing be deferred until the end of the year and that it embrace
$225,000.
In'the interim the $100,000 due the National Bank of New Jersey was
converted into tax revenue bonds and sold to the bank at a rate of 2 %.
ARLINGTON, N. J.—BOND SALE—The issue of $60,000
registered water bonds for which no bids were received at
offering was sold privately in the following month to the
Rutherford National Bank, Lyndhurst Branch No. 1 of Lyndhurst at a
price of 95, a basis of about 6.42%.
Dated Dec. 15, 1932 and due Dec. 15
as follows:
$1,000 in 1943, 1945, 1947 and 1948; $2,000, 1949 to 1953, incl.;
$3,000,1954 to 1962, incl.; $4,000 in 1963 and $5,000 from 1964 to 1966. incl.
NORTH
6% coupon or
the March 26
NORTH WILDWOOD,
N. J —BOND OFFERING—William C. Epler
City Clerk, will receive sealed bids until 8 p. m. (Daylight Saving Time)
Aug. 18 for the purchase of $50,000 4% refuhding bonds. Dated Sept. 1,
1935.
Denom. $1,000.
Due Sept. 1 as follows:
$7,000, 1940 and 1941;
on
$13,000,1942; $4,000, 1943; $9,000 in 1944 and $5,000 in 1946 and
1947.
PATERSON, N. J.—BOND SALE—The $302,000 coupon or registered
improvement bonds offered on Aug. 6—V. 143, P, 630—were awarded
to Dick & Merle-Smith of New York on a bid of 100.157 for 3s, a basis
of about 2.97 %.
The bonds are being reoffered to investors, prices ranging
from a 1% yield on the earliest maturity to 98.50 on the last.
Dated
July 1, 1936.
Due July 1 as follows: $25,000 from 1937 to 1941 incl.;
$30,000, 1942 to 1946 incl., and $27,000 in 1947.
successful
restoring credit position and financial status of the municipality on
N. J.—TERMINAL BOND ISSUE AUTHORIZED—The
Port of Newark Terminal
given final approval by the Board of Commissioners on July 29.
ordinance authorizing the issuance of $2,000,000
WEST
NEW
YORK,
N.
J.—BONDS PUBLICLY OFFERED—Leach
offering for public investment a new issue of
$200,000 4% series D general refunding bonds issued purusant to Chapters
60 and 233 of Public Laws of New Jersey of 1934.
Dated March 1, 1936
and due serially on March 1.
The 1940 to 1942 maturities are priced to
Bros., Inc. of New York are
yield 3.50%; 1943 to 1946, incl., 4%; 1947 to 1951, incl., 4.25%.
Accrued
each instance.
The bonds, according to the bankers,
interest to be added in
legal investment for savings banks and trust funds in the
Jersey and have been approved as to legality by Reed, Hoyt
of New York City.
are
NEW
State of New
& Washburn
MEXICO
SILVER CITY, N. M.—BOND OFFERING— Sealed bids will be received
until 7:30 p. m. on Sept. 7, by J. B. Turner, Town Clerk, for the purchase
a $55,000 issue of coupon hospital bonds.
Interest rate is not to exceed
4%, payable F. & A. Denom. $500. Dated Aug. 1, 1936. Due on Aug. 1
as follows:
$2,000, 1937 to 1941; $2,500, 1942 to 1946; $3,000, 1947 to
of
1951,
and $3,500, 1952 to 1956.
Prin. and int. payable in lawful money
the office of the Town Treasurer. The approv¬
with New York exchange, at
ing opinion of Pershing, Nye, Bosworth & Dick, of Denver, will be fur¬
nished. None of said bonds will be sold at less than par and accrued interest
to date of delivery, nor will any discount or commission be allowed or paid
on the sale of the bonds.
A certified check for 5% of the amount bid,
payable to the town, is required.
,
■
Financial
960
■
Chronicle
NEW YORK, N. Y.—TEMPORARY FINANCING IN JULY—During
of July the city borrowed a total of $82,150,000 through the
divided as follows:
the month
Offerings— Wanted
issuance of various short-term loans,
New York State Municipals
Gordon Graves fit Co.
YORK STOCK EXCHANGE
MEMBERS NEW
WALL ST.,
Whitehall 4-5770
N. Y.
YORK
NEW
"
AUBURN, N. Y.—BOND OFFERING—A. P. Briggs, City Comptroller,
„
will receive sealed bids until 11 a. m. (Eastern Standard Time) on Aug. 13
3% interest coupon or registered
general obligation bonds issued to finance the purchase of certain equipment
for various city departments.
The bonds are dated Aug. 15, 1936. Denom.
$1,000.
Due $7,000 on Aug. 15 from 1937 to 1941, incl.
Bidder to name
one rate of interest on the loan and in the case of fractional rates t«ie frac¬
for the purchase of $35,000 not to exceed
tion must be expressed in a
multiple of }4 or l-10th of 1%.
Principal and
(F. & A. 15) payable at the Chemical Bank & Trust Co., N. Y.
The city will pay the cost of the delivery of the bonds in N. Y. City
about Sept. 1.
The city is authorized and required by law to levy such
unlimited ad valorem taxes as may be necessary to pay both principal ana
interest on the loan.
A certified check for $1,000, payable to the order of
the city, must accompany each bid.
The approving opinion of Reed,
Hoyt & Washburn of New York will be furnished the successful bidder.
'
'
'
'
'
interest
Financial
(July 31,
Report
$2,902,665
347,000
$2,754,481
307,500
Resulting net debt—__
Assessed val. subject to taxation
Operating budget (city and school)__
$2,555,665
52,603,890
1,025,946
$2,446,981
52,244,930
1,019,179
NEW
Corporate
Stock
Notes
of
1936
$5,000,000, 0.34%, due Dec. 9; 1936
Special Revenue Bonds of 1936
$2,500,000, 134%, due Nov. 1, 1936
4,500,000, 134%. due Nov. 1, 1936
3,000,000, 134%, due Nov. 1, 1936
Y.—DEBT
N.
YORK,
INCURRING
MARGIN—Comptroller
385,218
1,411.164
424,609
1,443,789
52,109,545
1,057,717
367,699
1,425,417
$9.25
$12.73
$11.69
—
Debt service
1
Taylor on July 30 issued a report indicating that the debt-incurring
of the city as of May 1 was $336,860,928, exclusive of certain sums
already authorized and reserved for capital outlays, acquisition of parks
and other purposes.
Such deductions amount to $103,210,230, which
leaves a balance of $233,650,697 available for additional borrowing.
The debt-incurring power within the debt limit, based on 10% of the
assessed valuation for 1936, is computed at $1,667,876,354.
Of this total
Frank J.
$2,703,161
283,000
>
city has incurred an amount, within the debt limit, of $1,331,015,426.
pamphlet has been prepared by the Comptroller to show the constitutional
debt-incurring power as of Jan. 1, March 1 and May 1, 1936.
the
A
Tax rate per $1,000—
NIAGARA
4.34
4.81
4.88*
4.78
-r —-
Debt Statement
5.11
5.28
iJuly 31,
SCHOOL DISTRICT
COMMON
NO.
1
(P.
O.
Niagara
Y.—BOND SALE—The $5,500 coupon or registered school
on July 31—V., 143, p. 631—were awarded to Roosevelt &
Weigold, Inc. of New York as 3.70s, at a price of 100.11, a basis of about
3.68%.
Dated Aug. 1,1936 and due $500 on Oct. 1 from 1937 to 1947 incl.
Falls),
N.
bonds offered
1936)
Funded debt—General city bonds (including this issue)
School
bonds
$2,008,445
617,365
283,000
112,350
bonds
Water
1, 1936 Taxes)
due Oct. 1, 1936
due Jan. 1, 1937
due Apr. 1, 1937
due July 1, 1937
due Oct. 1, 1937
due Jan. 1, 1938
due Apr. 1, 1938
due July 1, 1938
1964, inclusive.
to
$2,986,161
Less water bonds
■
Special
2%,
2%,
2%,
2%,
2%,
2%,
2%,
2%,
TO PWA—In addition to the above interim borrowing,
BONDS SOLD
1936
budget...
89,000,000,
6,000,000,
3,500,000,
3,000,000,
2,250,000,
1,500,000,
2,000,000,
1,750,000,
power
1935
City, due July 1_
Schools, due Sept. 1
County, due Feb. 1
of 1936 Exchanged
Revenue Bills (Apr.
the city during July issued a total of $2,195,000 4% bonds to the Public
Works Administration, in accordance with agreements previously executed
with the Federal agency.
The bonds mature at various dates from 1939
1936)
1934
Gross
or
■■
Fiscal Year Ended June 30—
Total bonded debt...
■
Oct. 1, 1934 Taxes)
$2,800,000, 2%, due Jan. 1, 1937
Revenue Notes of 1936, Payable from
April 1, 1935 Taxes)
$2,500,000, 2%, due Jan. 1, 1937
2,750,000, 2%, due Oct. 1, 1936
2,250,000, 2%, due Apr. 1, 1937
1,500,000, 2%, due July 1, 1937
1,500,000, 2%, due Oct. 1,1937
750,000, 2%, due Jan. 1, 1938
Revenue Notes of 1936 {Payable from
Oct. 1, 1935 Taxes)
$3,350,000, 2%, due Oct. 1, 1936
3,000,000, 2%, due Jan. 1, 1937
2,750,000, 2%, due Apr. 1, 1937
2,250,000, 2%, due July 1, 1937
1,750,000, 2%, due Oct. 1, 1937
1,000,000, 2%, due Jan. 1, 1938
City.
i
Revenue Notes
Certificates of Indebtedness for Home
and Work Relief
$10,000,000, 134%, due Jan. 22, 1937
Revenue Notes of 1936 {Payable from
County—City—Town—School District
1
Aug. 8, 1936
Assessment, bonds
PALMYRA, N. Y.—BOND SALE—The $50,000 coupon, fully registerable, water system bonus offered on July 31 were awarded to Little &
Hopkins, Inc. of Rochester on a bid of 100.325 for 2.60s, a basis of about
2.57%.
Sage, Rutty & Steele of Rochester, bid 100.03 for 2.60s.
Dated
Aug. 1, 1936.
Due $2,000 yearly on Aug. 1 from 1937 to 1961, incl.
$3,021,161
PLEASANTVILLE, N. Y.—BONDS AUTHORIZED—On July 30 the
58,475
City Council gave its approval to an ordinance authorizing the issuance
of $35,000 bonds.
Unfunded debt—Temp, bonds (improvements under constr'n)__
Temporary bonds
(public welfare).
Gross debt
Less
water
165,000
*.
^
1
Legal net debt
(Unfunded debt to be retired from proceeds of
on or about Dec. 1, 1936.)
a
283,000
$2,961,636
bond issue to be offered
for sale
Tax Collection Report (Fiscal
,
Year Beginning July 1)
1932
1933
General property tax,__ $1,238,784
Uncollected at end of fis¬
1934
1935
$1,010,596
$1,232,008
$1,181,779
85,485
67,476
83,601
July 31 1936___
8,906
7,749
36,358
Current city tax levy (payable half in July & half in October)
Collected to Aug. 1
55,483
47,984
$896,204
__
510,000
-
1936
To be paid
Tax levy.
1937
1938
1939
$28,500
$370,803
$316,582
4,000
24,500
46,191
324,611
,43,966
272,615
by other funds
Assessed
valuation (1936-37)
i.
Legal debt limit (10% assessed valuation).!
Total
net
(July 31, 1936)
Bonds of the city are accepted by the Secretary of the Treasury as security
for U. S. postal deposits.
The city has no overlapping debt,and the county
has no bonded debt.
The city has never defaulted on its obligations.
Water Department sinking fund. $16,320.46.
City's fiscal year, July 1-
Crippen,
or
registered bonds, divided as follows:
$75,000 home relief bonds of 1935.
Due $15,000 on Sept. 1 from 1942 to
1946, inclusive.
75,000 work relief bonds, series 2 of 1936.
Due $15,000 on Sept. 1 from
1937 to 1941, inclusive.
80,000 incinerator bonds.
Due Sept. 1 as follows: $5,000 from 1937 to
1946, incl., and $6,000 from 1947 to 1951, incl.
are
dated Sept. 1, 1936.
Bidder to name
a
single-interest
on all of the bonds,
expressed in a multiple of J4 or 1-10 of 1%.
Denom. $1,000. Prin. and int. (M. & S.) payable at the Fallkill National
Bank & Trust Co., Poughkeepsie, or, at holder's option, at the Chase
National Bank, N, Y. City.
A certified check for 2% must accompany
rate
'
$301,282
38,557
262,724
$52,078,710
5,207,871
2,961,636
2,246,234
debt
Debt margin
coupon
each proposal.
The approving opinion of Hawkins, Delafield
of New York will be furnished the successful bidder.
Bgnd Principal Maturing (This Issue Not Incl.)
Total due
OFFERING—LeGrande
City Treasurer, will receive sealed bids until 10 a. m. (Eastern Standard
Time) on Aug. 14 for the purchase of $230,000 not to exceed 5% interest
All of the bonds
cal year
Uncoil.
Y.—BOND
N.
POUGHKEEPSIE,
$3,244,636
bonds
& Longfellow
Financial Statement
valuation
(real and personal property,
cluding special franchises)
Total bonded debt (incl. bonds now offered)
Assessed
Population, 1930 census, 40,288.
Tax
and
in¬
—$53,312,710.87
—
—
i
4,531,150.00
.
Collection Report
lQqq
1Q34
1Q35
iqq6
-$2,240,684 $2,116,397 $2,035,566 $1,829,842
Uncollected end of fiscal year
56,420
44,987
51,218
Uncollected Aug. 1„>1936~18,355
7,730
31,466
340,866
Levy
June 30.
BUFFALO, N. \ .—GOVERNOR VOIDS CHARGES AGAINST MAYOR
—-Gbvernor Herbert H. Lehman
Aug. 6 dismissed the removal charges,
filed against Mayor George J. Zimmerman by two local lawyers with the
comment that he had examined an order of Justice John V. Mahoney of
the Supreme Court at Buffalo, dated last June 10, "dismissing certain
indictments for bribery against the Mayor" and that "the factual basis
for those indictments is exactly the same as that alleged in the (removal)
on
petition before me."
CARMEL,
SCHOOL
.
SARANAC LAKE, N. Y.—BOND SALE—The $38,600 coupon or regis¬
bonds described below, which were offered on July 30—V.
143,
tered
631—were awarded to Geo. B. Gibbons & Co. of New York on a bid of
100.31 for 2Ms, a basis of about 2.71%:
$30,000 paving bonds.
Denom. $1,000.
Due $2,000 on Aug. 1 from
p.
1937 to 1951 inclusive.
_
4,600 refunding bonds.
One bond for $600, others $1,000 each.
Due
Aug. 1 as follows:
$600 in 1938 and $1,000 from 1939 to 1942 incl.
4,000 refunding water bonds.
Due $1,000 on Aug. 1 from 1938 to 1941
inclusive.
KENT,
DISTRICT
The $60,500 coupon or
PATTERSON & SOUTHEAST UNION FREE
NO. 10 (P. O. Carmel), N. Y.—BOND SALE—
registered school bonds offered on Aug. 6—V. 143,
801—were awarded to the Manufacturers & Traders Trust Co. of Buffalo
a bid of 100.333 for 3s, a basis of about 3.10%.
Datea Aug. 1, 1936.
Due Aug. 1 as follows: $3,000 from 1939 to 1957, and $3,500 in 1958.
p.
All
of
the
bonds
will
be
dated
Aug.
1,
1936.
Principal and interest
iF. & A.) payable at the Adirondack National Bank & Trust the Manufac¬
Co., Saranac
.lake, with New York exchange.
The only other bidder
was
turers & Traders Trust Co.
of Buffalo, who offered 100.297 for 2.80s.
on
SCHENECTADY, N. Y.—BONDS AUTHORIZED—'The City Council
adopted two ordinances which provide authority for the issuance of
aggregate of $180,000 improvement bonds.
has
CLACKSTOWN
COMMON
SCHOOL
DISTRICT
(P.
O.
Upper
Nyack), N Y —BOND OFFERING—The Board of School Trustees will
(Daylight Saving Time) on Aug. 14 for the
purchase of $6,500 4% coupon school bonds.
Dated Aug. 14, 1936.
One
bond for $1,500, others $1,000 each.
Due Dec. l as follows: $1,500 in_
1937 and $1,000 from 1938 to 1942 incl.
Principal and semi-annual interest
payable at the Nyack National Bank & Trust Co., Nyack, with New York
exchange.
A certified check for 10% of the issue must accompany each
proposal.
'
receive sealed bids until 2 p. m.
an
YONKERS, N. Y.—TAX COLLECTIONS BETTER AND DEBT LOWER
—For the third consecutive year the tax collections of the City of Yonkers
show an improvement over the preceding year.
On the basis of the ex¬
perience
to
June
30,
the current year will
Mayor Loehr anticipates that the collections for
show an improvement of approximately 5% as com¬
pared with 1935.
the financial plan of the city the collections of arrears and the
levy provide the necessary funds for current operations, the pay¬
interest, and principal of maturing bonds and tax notes.
In
1935 the collections of taxes in arrears and the current levy amounted to
Under
current
JAMESTOWN CITY SCHOOL DISTRICT, N. Y.—BOND OFFERING
W. Sellstrom, Treasurer of the City of Jamestown, will receive
Elmer
bids, until
1 p. m. (Eastern Standard Time), Aug. 11 for the purchase of
$154,000 coupon, registerable as to principal only or as to both principal and
interest, school bonds, series 11.
Bidders are to name rate of interest, all
the bonds to bear a uniform rate, in a multiple of 34% or ho of 1%, but not to
exceed
4%.
Award will be made at the lowest interest rate named. Denom.
$1,000.
Dated June 1, 1934.
Prin. and semi-ann. int. (J. 1 & D. 1,)
payable at the City Treasurer's office, or at the Guaranty Trust Co., in
New York/at holder's option.
Due on June 1 as follows: $24,000, 1950;
$68,000, 1951 and $62,000, 1952.
Cert, check for $5,000, payable to the
City Treasurer, required.
Approving opinion of Thomson,Wood & Hoff¬
man of New York will be furnished by the District.
ment
of
This is comparable with the tax levy of $11,074,997.89
addition to reserve for delinquent taxes,
cash requirement of $10,809,997.89.
In other words, the col¬
lections exceeded the budgeted cash requirements by $363,554.19.
Since the adoption of the plan in November, 1934, the city has not found
it necessary to resort to any form of tax revenue anticipation borrowing
and has reduced this form of debt from $5,054,523.45 as of Dec. 31, 1933,
to $1,600,500 as of July 15, 1936.
As of Aug. 2, 1936, the city will have retired $2,460,400 of bonds and
$400,000 of tax notes, maturing in the current year. This leaves a balance
of only $863,000 of 1936 maturities to be met as they mature.
Figures taken from the constitutional debt incurring capacity statements
$11,173,552.08.
less $265,000 included therein as
leaving
a
compare as follows:
NEWFANE,
N. Y.—BOND SALE—The $22,000
coupon
or
registered
bonds described below, which were offered on Aug. 4—V. 143, p. 800—were
awarded to Rutter & Co. of New York on a bid of 100.213 for 2.80s, a basis
of about
2.72%:
Due $1,000
on
Due $1,000 on Aug. 1 from 1938 to
All of the bonds will be dated Aug. 1, 1936.
Denom. $1,000.
Principal
and interest (F. & A.) payable at the Manufacturers & Traders Trust Co.,
.$40,209,107.42 $37,877,775.81 $36,581,876.14
Total
6,000 Sewer District No. 1 bonds.
1943, inclusive.
'
1934
1935
June 30, 1936
___$36,003,150.00 $35,456,450.00 $34,594,900.00
3,222,374.58
2,024,630.94
1,824,235.70
983,582.84
396,694.87
162,740.44
Aug. 1 from 1938 to
inclusiv6t
Buffalo.
Notes
Contract liab.,&c
$16,000 Water District No. 1 bonds.
1953
Indebtedness—Bonds
Deductions (legal)
Net indebtedness
Margin
of
capacity
8,440,061.07
7,265,130.94
7,364,335.70
$31,769,046.35 $30,612,644.87 $29,217,540.44
debt-incurring
..
$833,361.15
$1,571,401.83
$2,966,506.26
Volunn
Financial
143
961
Chronicle
BEDFORD,
Ohio—BOND OFFERING—O. E. Hutchinson, Director
Finance, will receive sealed bids until noon (Eastern Standard Time)
Aug. 17 for the purchase of $44,068.73 4% series No. 2 general limited
refunding bonds. Dated April 1, 1936. Due Oct. 1, as follows: $4,068.73,
1941; $4,000 in 1942 and $4,500 from 1943 to 1950, incl.
Optional on Oct. 1
in any year
starting with 1941.
An interest rate other than 4% may be
named by the
bidder, although such other rate must be expressed in a
multiple of 34 of 1%. Principal and interest (A. & O.) payable at the office
of the Director of Finance.
A certified check for 1% of the amount bid,
payable to the order of the Director of Finance, must accompnay each
of
on
$65,000
County, N. C., Sch. 3%s,
Alamance
Due Oct. 1, 1953-60
@ 100 & int.
F. W. CRAIGIE & COMPANY
proposal.
Phone
3-9137
(These bonds
received.)
.
Richmond, Va.
were
originally offered
on
July 27, at which time no bids
were
A. T. T. Tel. Rich.
Va. 83
BEDFORD, Ohio—BONDS NOT SOLD—'The $487,585.36 4% refund¬
ing bonds offered on July 20—V. 143, p. 309—were not sold, as no bids
were submitted.
The offering consisted of:
MARKETS APPRAISALS INFORMATION NORTH CAROLINA
AND MUNICIPAL BONDS ALL SOUTHERN STATE AND
KIRCHOFER
$420,517.63 special
MUNICIPALS
A. T.
NORTH
BURKE
$87,000
COUNTY
1950, incl.
23,000.00 general unlimited refunding bonds.
to 1950, incl.
are dated April 1, 1936.
(P.
O.
registerable
T. TELETYPE
Morganton),
RLGH
80
N.
The
C
to
Tne Farmers & Merchants Bank of Sheyenne bid for $5,000 certifi¬
M %
•
CAROLINA,
State
of—IMPROVEMENT
SHOWN
IN
FINANCIAL
CONDITION—The
North
Carolina general fund,
from
which all general State expenditures are made, closed the fiscal year on
June 30 with a credit balance of $949,927, the budget bureau announces.
The highway fund had a cash balance of between $9,000,000 and
$10,000,000
but
only $6,000,000 to $7,000,000 was "unencumbered" due to unspent
allotments already made.
For 1933-34, the first year of the Ebrtnghaus administration, the general
fund listed a $74,072 credit balance and for the fiscal year 1934-35 the
figure
was
$500 each six months from Oct. 10, 1938 to Oct. 10, 1951.
check for $140, payable to the Board of Education, required.
and
including $1,000,000 from the highway funds as "sales tax on
gasoline" and $1,514,025 from non-tax revenue sources such as earnings
fees, dividends, &c.
Expenditures aggregated $31,201,705.
revenue
and income taxes
SHELBY, N
C —BOND OFFERING—W. E. Easterling, Secretary of
will receive sealed bias at his office
Raleigh until 11 a. m. (Eastern Standard Time) on Aug. 11 for the
purchase of $52,000 not to exceed 6% int. coupon public impt. bonds.
the Local Government Commission,
in
Dated Dec. 1, 1935.
Denom. $1,000.
Due Dec. 1 as follows: $3,000 from
1937 to 1948, incl. and $2,000 from 1949 to 1956, incl.
Int. rate to be
expressed in
a multiple of
of 1%.
Separate rates may be named on the
and last maturing bonds.
Not more than two rates, however,
be named on the issue.
Prin. and int. (J. & D. )payable in lawful
money in New York City.
The bonds are unlimited tax, general obliga¬
tions.
A certified check for $1,040, payable to the order of tne State
Treasurer, must accompany each proposal.
The approving opinion of
Masslich & Mitchell of New York City will be furnished tne successful
bidder.
Bonds will be delivered on or about Aug. 27, 1936, at place
designated by the purchaser.
earliest
may
SOUTHERN PINES, N. C.—BONDS APPROVED—The Local Govern¬
ment Commission has approved a $27,000 bond issue for Southern Pines
for street paving, water plant improvements and extension of the sewer
Certified
Ohio—BOND ELECTION—A special election will be held
on Aug. 25 at which a
proposal to issue $80,000 sanitary sewer construction
bonds will be submitted to the voters for approval.
\
CAREY,
DENNISON, Ohio—BOND OFFERING—Burnie Bower, ViUage Clerk,
noon Aug. 24 for the purchase of $9,225 4% refunding
Denom. $1,000, except one for $225. Dated July 1, 1936. Interest
payable April 1 and Oct. 1.
Due serially on Oct. 1 from 1942 to 1947.
Certified check for 2% of amount of bonds bid for, payable to the Village
will receive bids until
bonds.
Treasurer, required.
EAST LIVERPOOL,
Ohio—BOND ELECTION—At the general elec¬
construction of a
power plant.
Of the cost, it is expected
that the Public Works Administration will supply $675,000 as a grant,
while the balance of $825,000 would be obtained through the sale of that
tion in November the voters will be asked to approve the
$1,500,000 municipal electric and
amount of city
bonds.
FLUSHING, Ohio—BOND OFFERING— Katherine McBride, ViUage
Clerk, wiU receive bids until noon Aug. 24, for the purchase at not less
than par of $2,461.76
5% coupon debt funding bonds.
Denom. $600,
except one for $61.76.
Dated April 1, 1936.
Interest payable April 1
and Oct. 1.
Due $61.76 Oct. 1, 1937; and $600 yearly on Oct. 1 from 1938
to 1941, incl.
Certified check for $200, payable to the village, required.
FRANKLIN
sources,
VILLAGE
SCHOOL
DISTRICT,
Ohio—BOND ELEC¬
TION—A special election will be held on Aug. 18 at which a proposition
issue $48,000 school building bonds will be submitted to the voters.
to
GEORGETOWN,
Ohio—PURCHASER—BUss,
&
Bowman
Co.
of
Toledo purchased the issue of $40,000 water supply bonds reported sold in
columns recently.
They paid a price of 100.21 for 5s, a basis of
these
about
Dated July 5, 1936, and due serially on
5.98%-t-V. 143, p. 632,
July 1 from 1939 to 1963, incl.
Ohio—BOND OFFERING—R. M.
Blackburn,
Village Clerk, wiU receive bids until noon Aug. 22, for the purchase at not
less than par of $4,000 3% street improvement bonds.
Denom. $200.
Dated June 15, 1936.
Interest payable semi-annuaUy.
Due $200 each six
months from Dec. 15, 1936 to June 15, 1946, incl.
Certificated check for
$50, payable to the Village Treasurer, required.
GNADENHUTTEN,
HOLLOWAY,
Ohio—BOND
OFFERING—D.
G.
Ainsworth, Village
Clerk, will receive bids until noon Aug. 24 for the purchase at not less than
of $2,183-94 5% coupon debt funding bonds. Denom. $500, except one
$183.94.
Dated April 1, 1936.
Interest payable April 1 and Oct. 1.
Due $183.94, Oct. 1, 1937; and $500 yearly on Oct. 1 from 1938 to 1941,
incl. Certified check for $200, payable to the village, required.
par
for
LAKEWOOD
SCHOOL
DISTRICT,
Ohio—BOND
REFUNDING
AUTHORIZED—The Board of Education has recently authorized
the re¬
funding of $105,500 outstanding bonds of the district.
LANIER TOWNSHIP CENTRALIZED SCHOOL DISTRICT
(P. O.
Camden). Ohio—BOND ELECTION—A special election is to be called
Aug. 21 for the purpose of voting on the question of issuing $47,000
for
system.
VALDESE, N. C.—PURCHASER—It is stated by the Secretary of the
Local
noon Aug. 27, for the
purchase at not less than par of $13,900 4H% school
building improvement bonds.
Denom. $500, except one for $400.
Dated
April 10, 1936.
Interest payable semi-annually.
Due $400 April 10, 1938;
$712,253.
Revenue collections last fiscal year totaled $53,608,780, a new record,
with the general fund receipts of $28,743,757
being 19.14% piore than in
1934-35.
The general fund last fiscal year received $32,151,632 from all
The sales tax produced $10,181,373 of the
yielded another $8,088,119.
1
:
BELOIT VILLAGE SCHOOL DISTRICT, Ohio—BOND OFFERING
—A. J. Heacpck, Clerk of the Board of Education, will receive bids until
EDDY COUNTY (P. O. New
Rockford), N. Dak.—CERTIFICATE
SALE—The $15,000 certificates of indebtedness offered on Aug. 4—V.
143, p. 802—were awarded to the First State Bank of New Rockford as
NORTH
Due on Oct. 1 from 1941
'
Ohio—BOND OFFERING—Dale Loper, Village Clerk,
noon Aug. 24 for the purchase of $972.42 5% delin¬
funding bonds.
Denom. $200, except one for $172.42.
Dated
April 1, 1936.
interest payable April 1 and Oct. 1.
Due $172.42 Oct. 1,
1937, and $200 yearly on Oct. 1 from 1938 to 1941, inclusive.
Certified
check for $200 required.
V
CHOWAN COUNTY (P. O. Edenton), N. C —BONDS AUTHORIZED
Board of County Commissioners is said to have authorized the
issuance of $90,000 in school bonds.
cates at 4
from
BELMONT,
—The
4>^s.
1
Oct.
Oct. 1 from 1941 to
will receive bids until
CAROLINA
as
Due on
on
quent tax
principal, general obligation unlimited
tax school building bonds offered on
Aug. 4 were awarded to the Equitable
Securities Corp. of Nashville at a premium of $69.60, equal to 100.08, the
first $39,000 bonds to bear interest at 3K% and the balance of the issue
at 3%.
The First National Bank of St. Paul and the First National Bank
& Trust Co. of Minneapolis combined to bid a premium of $461.10 for
$24,000 3s and $63,000 3^s.
Dated June 1, 1936.
Due June 1 as fol¬
lows: $3,000, 1939 to
1947, and $6,000, 1948 to 1957.
coupon,
Due
All of the bonds
INCORPORATED
RALEIGH, N. O.
bonds.
44,068.73 general"limited refunding bonds.
ARNOLD
&
refunding
assessment
1941 to 1950, incl.
STATE
Government
Commission
that
the
$15,000
anticipation
p. 802—were
revenue
notes sold recently, as noted in these columns—V.
143,
purchased by the First National Bank of Morganton.
VALDESE, N. C.—BONDS AUTHORIZED—The Board of Commis¬
sioners of the Town have passed an ordinance authorizing the issuance of
$77,500 refunding water and
sewer
bonds.
,
schoolhouse
addition
construction
bonds.
(P. O. Toledo), Ohio—BOND OFFERING—Ade¬
laide E. Schmitt, Clerk of the Board of County Commissioners, will receive
bids until 10 a. m. Aug. 24 for the purchase of $137,000 4% bonds. Denom.
$1,000. Dated Sept. 1, 1936. Principal and semi-annual interest (March 1
and Sept. 1) payable at the County Treasurer's office.
Due Sept. 1, 1951;
subject to call by lot on Sept. 1, 1942, or any interest payment date there¬
after.
Certified check for 1% required.
LUCAS COUNTY
LUCAS COUNTY (P. O. Toledo), Ohio—BOND
NORTH
DAKOTA
GOLDEN GLEN SCHOOL DISTRICT, N. Dak.—BOND OFFERING—
A. O. Olson, District Clerk, will receive bids until 2 p. m. Aug. 19 at the
office of the County Auditor in LaMoure for the purchase of $22,000
general obligation bonds.
Bidders are to name rate of interest, not to
exceed 5%.
Interest payable semi-annually.
Due serially from 1938 to
1956, incl. Certified check for 2% of amount of bid, required. Sale will not
be made at less than par.
ROLETTE COUNTY
>
(P. O. Rolla), N. Dak .—CERTIFICATE SALE
—The
$75,000 certificates of indebtedness offered for sale on Aug. 4—
V. 143, p. 632—were purchased by V. W. Brewer & Co. of Minneapolis,
as follows:
$60,000 at 6%, and $15,000 at 534 %, according to the County
Auditor.
MARTINS FERRY, Ohio—BONDS AUTHORIZED—On July 18 the
City Council passed an ordinance providing authority for the issuance of
$10,000 fire apparatus bonds.
SCHOOL DISTRICT, Ohio—BOND ELEC¬
of $50,improvements to the voters at an election to be held
VILLAGE
MORROW
TION—The Board of Education will submit a proposed bond issue
000 for school building
on
Aug. 21.
,
NEW BOSTON,
tax bonds offered on
•'
'
Ohio—BOND SALE—The $15,500 coupon delinquent
Aug.
4j-V. 143,
p. 472—were awarded to Fox, Einhorn
premium of $65, equal to 100.419, a basis
3 H&, at a
Seasongood & Mayer of Cincinnati offered a premium of
$46.70 for 3V\% bonds.
Dated April 1, 1936.
Due as follows:
$2,000
Oct. 1, 1937; $1,500 on Oct. 1 from 1938 to 1945; and $1,500 on March 31,
& Co. of Cincinnati as
OHIO
ISSUE'DETAILS—
bonds purchased by Ryan, Sutherland & Co. of Toledo
of 102.89, as previously noted in these columns,
are refunding obligations bearing date of Nov. 1, 1935.
Due Nov. 1, 1950
and optional after Nov. 1, 1942.
Coupon in denoms. of $1,000. Interest
payable M. & N. Others in the account are Braun, Bosworth & Co.and
Stranahan, Harris & Co., both of Toledo.
*
The $281,000 3M%
and associates at a price
MUNICIPALS
of about 3.68%.
1946.
MITCHELL, HERRICK & CO.
700
CANTON
CUYAHOGA
AKRON
NEW
COLUMBUS
*■
bonds.
BUILDING, CLEVELAND
CINCINNATI
LEBANON,
Ohio—BONDS
VOTED—At
a
recent
election
the
electors voted 208 to 17 in favor of the issuance of $10,000 waterworks system
,
of—SALES TAX AMENDMENT VOTE ASSURED—
Secretary to Governor Davey, announced that 423,605
been secured to the Governor's petition on a sales tax
measure.
Since 218,703 signatures are required by Aug. 5, the question of
a constitutional amendment prohibiting a sales tax on food consumption
in the home is sure to go on the November ballot.
It is estimated that
$12,000,000 in sales tax revenue would be lost if the food tax amendment
passes in November.
OHIO,
SPRINGFIELD
"
John M.
State
Caren,
signatures had
OHIO
ADA, Ohio—BOND SALE—Ryan,
purchased the following issues:
$10,000 municipal bldg.
bonds.
Sutherland & Co. of Toledo have
Due $1,000 each Dec.
1
from
1936
to
1945 incl.
2,500 municipal swimming pool bonds. Due $250 each Dec. 1 from 1936
|X
to 1945 incl.
r"
All of the bonds are dated Dec
1935.
They were offered for sale as
6s on May 4,
ALLIANCE, Ohio—BONDS AUTHORIZED—'The City Council has
adopted an ordinance authorizing the issuance of $13,200 judgment funding
bonds.
ORANGE
VILLAGE SCHOOL DISTRICT (P. O. Chagrin Falls),
OFFERING—R. L. Stern Jr., Clerk of the Board of Edu¬
Ohio—BOND
cation, will receive bids until noon (Eastern Standard Time),
Aug. 11 for
purchase at not less than par of $10,000 4>£ % coupon school improve¬
bonds, in addition to the $6,500 43^% refunding bonds, offering of
which has been described in these columns—V. 143, p. 633.
Denom. $500.
Dated Jan. 1, 1936. Principal and semi-annual interest (April 1 and Oct. 1)
the
ment
payable at the office of the Clerk of the Board of Education. Due $500 on
April 1 and Oct. 1 in each of the years from 1941 to 1950.
Certified check
962
Financial
for 5% of amount of bonds bid for,
Education,
Chronicle
Aug. 8y 1936
payable to the Clerk of the Board of
required.
$154,000.
RICHLAND COUNTY (P. O. Mansfield), Ohio—BOND OFFERING—
P. S. Carroll, Clerk of the Board of
Commissioners, will receive sealed bids
Aug. 24 for the purchase of $56,000 not to exceed 3 % interest
coupon poor relief bonds. Dated Sept. 1, 1936. Due on March 1 from 1937
to 1944 incl.
Principal and interest (M. & S.) payable at the County
Treasurer's office.
A certified check for $5,600 must accompany each
until
SCRANT0N, PA. SCHOOL DISTRICT
noon on
2^-8
Maturing 1941 to 1956, inclusive
proposal.
To
RICHLAND
COUNTY
(P. O. Mansfield),
Ohio—ADDITIONAL
OFFERING DETAILS—The $56,000 not to exceed 3%
interest poor
relief bonds being offered
for sale on Aug. 24,
as
reported above,
will
mature
March
1
as
follows:
$6,300,
1937;
$6,500.
1938;
$6,700, 1939; $6,900, 1940; $7,100, 1941; $7,300, 1942; $7,500 in 1943 and
$7,700 in 1944. Bonds will be delivered at the County Treasurer's office on
Sept. 1.
on
to 2.61%
YARN ALL & CO.
Members
New York Stock Exchange
Philadelphia Stock Exchange
New York Curb Exchange (Associate)
Pennypacker 0300
"
A. T. & T.
New York, Bowling Green 9-2230
Teletype—Phlla. 22
WALNUT ST.
1528
RICHLAND TOWNSHIP
SCHOOL
DISTRICT
(P.
O. Jewell),
Ohio—BOND ELECTION—The district will conduct a special election on
Aug. 28 for the purpose of voting
house improvement bonds.
yield 1.90%
PHILADELPHIA
the question of issuing $80,000 school-
$100,000 City of Philadelphia
SHELBY, Ohio—BOND OFFERING—Bert Fix, Director of Finance,'
bids until noon on Sept. 1, for the purchase of $2,050
5% coupon bonds, divided as follows:
Due $90 on Sept. 1 from
$900 street improvement bonds.
Denom. $
1937 to 1946, inclusive.
700 street improvement bonds.
Denom. $70.
Due $70 on Sept. 1 from
1937 to 1946, inclusive.
450 street improvement bonds.
Denom. $45.
Due $45 on Sept. 1 from
will receive sealed
4/4% Bonds due February 27, 1981/51
Interest
&
to
net
2.875%
Moncure Biddle & Co.
1937 to 1946, inclusive.
Each issue is dated Sept. 1,
1620 Locust Street
1936.
Bidder may name an interest rate
other than 5%, expressed in a multiple of M of 1%.
Interest payable
M. & S.
A certified check for $100 on each issue bid for is required.
SMITHFIELD, Ohio—BOND OFFERING—L. A. Taylor, Village Clerk,
noon Aug. 21 for the pin-chase of $13,000 4% special
municipal waterworks system bonds.
Denom. $1,000. Dated
116.268
Price:
Philadelphia
PENNSYLVANIA
will receive bids until
assessment
Oct.
1, 1936.
Interest payable April 1 and Oct. 1.
Due $1,000 yearly on
Certified check for 5% of amount of bonds bid
Oct. 1 from 1937 to 1949.
for, required.
STARK COUNTY (P. O. Canton), Ohio— UNITS REDUCE DEBTS
—Walter J. Mackey, Secretary of the Stark County Tax League, Inc., who
recently completed a survey of county and municipal financing, reported
that the bonaed debt of the county and all of its subdivisions was reduced by
Ski,305,878 in 1935.
The county tax rate, Mr. Mackey stated, is the second
lowest for all Ohio counties with populations of 75,000 or more.
Delinquent
taxes, according to the survey, aggregated $7,935,318.
Since Jan. 1, 1929
the total public debt has been reduced almost $10,000,000, from $32,025,465 to $22,286,383.
TOLEDO,
Ohio—BOND
REFUNDING
OKLAHOMA
APACHE
SCHOOL
DISTRICT
O.
(P.
ELLWOOD CITY, Pa .—BOND OFFERING—E. B. Moyer, Borough
Secretary, will receive bids until 7p.m. Aug. 25 for the purchase of $52,000
4% coupon, registerable, municipal building bonds.
Denom. $1,000.
Dated Dec. 1,1935.
Principal and semi-annual interest (June 1 and Dec. 1)
payable at the Peoples National Bank, Ellwood City.
Due $2,000 yearly
on Dec. 1 from 1938 to 1963, incl.
Certified check for 5% of bid, required.
N. Waterbury,
Apache)
Okla.—BOND
ERIE, Pa.—BOND SALE—The $245,000 coupon or registered funding
refunding bonds offered on Aug. 7—.V 143, p. 634—were awarded to
E. Snyder & Co. of Philadelphia and Mackey, Dunn & Co. of New
York at a premium of $3,224.20, equal to 101.315, for 234s, a basis of
about 2.38%.
Dated Aug. I 1936. Due Aug. 1 as follows: $o 000 1937 to
1941; $10,000, 1942 to 1946; $15,000, 1947 to 1952; and $20,00, 1953 to
and
Geo.
1956.
District Clerk, that bids
GREENE COUNTY (P. O. Waynesburg), Pa.—BOND
will be received until Aug. 11, for the purchase of an $11,000 issue of school
.building bonds.
71
O.
Berwyn), Okla.—BOND OFFERING—J. C. Carpenter, District
m. Aug. 11 for the purchase at not less
than par of $14,000 school building bonds, which are to bear interest at
rate named in the successful bid.
Due $1,000 yearly beginning July 1,
1941.
Certified check for 2% of amount of bid required.
Clerk, will receive bids until 2 p.
MOUNTAIN
PARK, Okla.—BONDS SOLD—It is stated by the Town
Clerk that the $5,000 water works bonds offered for sale on March 30, were
purchased by Kiowa County, as 5s. ' He also reports that the $10,000 city
hall bonds offered at that time
STILLWATER
BONDS
voters
a
SCHOOL
VOTED—At the
were not
sold.
DISTRICT
election
held
(P.
O.
Stillwater),
Okla.—
July 21—V. 143, p. 473—the
approved the issuance of the $92,000 in school construction bonds by
substantial
on
margin.
WAYNESFIELD
SCHOOL
OFFERING—
Edward Wood, Chief Clerk, will receive sealed bids until 2 p.m. (Eastern
Standard Time) on Aug. 21 for the purchase of $46,000 2, 234. 234. 224,
Due from 1940 to 1950.
CARTER COUNTY CONSOLIDATED SCHOOL DISTRICT No.
(P.
Pa.—
Clyde
Holt, Solicitor, will receive bids until 7 p. m. (Eastern Standard Time)
Aug. 13 for the purchase at not less than par of $7,000 coupon bonds.
Bidders are to name rate of interest, making choice from 334%, 334%.
3M% and 4%.
Denom. $1,000.
Dated Aug. 1, 1936.
Interest payable
Feb. 1 and Aug. 1.
Due $1,000 on Aug. 1, 1939, and $2,000 on Aug. 1 in
each of the years 1941, 1943 and 1945.
Legal opinion of Burgwin, Scully
& Churchill of Pittsburgh will be furnished by the district.
AUTHORIZED—Refunding
of $3,286,000 outstanding bonds at an interest rate 3% or lower was au-.
thorized by the City Council on Aug. 3. Maturities of the bonds would not
be changed in the operation.
OFFERING—It is stated by J.
ECONOMY TOWNSHIP SCHOOL DISTRICT (P. O. Beaver),
BOND OFFERING—Joseph Tosh, District Treasurer, announces that
DISTRICT, Ohio—BOND ELECTION—
A special election is to be held on Sept. 1 for the purpose of voting on the
question of issuing $85,000 school building bonds.
Oregon Municipals
3, 3 >4. 334, 324. 4, 434 or 4 34% series of 1936 coupon funding bonds.
Due
Sept. 1 as follows:
$1,000 in 1937 and $5,000 from 1938 to 1946 incl.
Purchaser will be permitted to register the bonds as to principal only or as
to both principal and interest.
All of the bonds must bear the same rate
of
interest.
Principal
and
interest
& S.) payable at the County
1% of the bonds bid for, payable
(M.
A certified check for
Treasurer's office.
the order of John
to
Freeland,
County Treasurer, must accompany each
proposal.
Legality will be approved
of Pittsburgh.
by Reed, Smith,
Shaw & McClay
JENKINS
TOWNSHIP, PITTSTON
BOROUGH (NOW PITTSCITY) AND PITTSTON TOWNSHIP POOR DISTRICT (P. O.
Pittston), Pa.—BOND SALE—The $287,000 coupon, registerable as to
principal only, refunding bonds offered by the Directors of the Poor on
Aug. 4—V. 143, p. 473—were awarded to the First National Bank of
Nanticoke as 3 34s. at a price of par.
The bank was the only bidder.
TON
KENHORST (P. O. Reading), Pa.— BOND OFFERING—.John W.
Clouser, District Secretary, will receive sealed bids until 7:30 p. m. (Day¬
light Saving Time) on Aug. 21 for the purchase of $6,000 not to exceed 4%
interest coupon capital improvement bonds.
Dated Sept. 1, 1936. Denom.
$500.
Due $500 on Sept. 1 from 1937 to 1948 incl.
Callable at par and
accrued interest on and after Sept. 15, 1938 at Borough's option.
The
bonds are registerable as to principal only and must all bear the same
interest rate.
Interest payable M. & S.
A certified check for 2%, payable
„
to the order of the
LOWER
Treasurer, must accompany each proposal.
SALFORD
TOWNSHIP
SCHOOL
DISTRICT
(P.
O.
Pa —BOND SALE— The issue of $24,000 coupon school
Aug. 3—V. 143, p. 473—was awarded to M. M. Freeman
& Co. of Philadelphia as 234s, at a price of par.
Dated Aug. 1, 1936 and
due Aug. 1 as follows:
$5,000in 1941, 1946 and 1951 and $9,000 in 1956.
Harleysville);,
CAMP & CO., INC.
Porter
Portland, Oregon
Building*
bonds offered
on
LUZERNE COUNTY (P. O.
William
10
OREGON
BEND, Ore.—BONDS CALLED—L. G. McReynolds. City Treasurer, is
said to have called for payment on Aug.
1, Nos. 1 to 23 of improvement
bonds, dated Feb. 1, 1928.
LANE
tion
COUNTY HIGH
SCHOOL DISTRICT NO. 13 (P. O. Junc¬
City), Ore.—BOND ELECTION—An election is to be held on Aug. 10
for the purpose of
voting on the question of issuing $40,000 bonds.
LANE COUNTY UNION HIGH
SCHOOL DISTRICT NO. 1 (P. O.
PAID—The United States National Bank of
Portland bid par for 2Ms in securing the award of the $7,000 school bonds
on July 27—V. 143, p. 803.
Goshen),
Ore.—PRICE
.
PORTLAND,
Ore.—BOND
SALE CORRECTION— The $28,000 5%
improvement bonds offered on July 22 were sold to the sinking fund at a
price of par.
It was originally reported that the award had been made to
Tripp & McCleary of Portland at a price of 108.055.
PENNSYLVANIA
a.
not
to
Wilkes Barre), Pa .—BOND OFFERING—
Multer, County Comptroller, will receive sealed bids until
(Eastern Standard Time) on I ug. 25 for the purchase of $500,000
W,
m.
exceed
234%
interest improvement
and funding bonds.
Dated
Due $100,000 on Sept. 1 from 1937 to
of interest on the issue.
Interest
payable M. & S.
A certified check for 2% of the bonds bid for, payable
to the order, of the County 1 reasurer, must accompany each proposal.
The
bonds will be issued subject to the favorable legal opinion of Townsend,
Elliott & Munson of Philadelphia.
Sept. 1, 1936.
1941
Denom. $1,000.
Bidder to name one
incl.
rate
MAHANOY TOWNSHIP SCHOOL DISTRICT (P.
Pa.—BOND OFFERING—James H.
Redclift, District
O. Mahanoy),
Secretary, will
for the purchase of $18,000 3% funding
$2,000in 1940; $3,000 in 1941, 1942 and
1943; $2,000 in 1944 and 1945, and $3,000 in 1946.
Certified check for
receive bids until 7 p. tn. Aug. 21
bonds. Dated April 1, 1936. Due
$1,000, required.
McSHERRYTOWN, Pa .—PRICE PAID—Buckley Bros, of Phila¬
delphia paid a price of 110.51 for the issue of $27,000 4% sewer bonds pur¬
chased by them on July 25—V. 143, p. 803.
Due Jan. 1 as follows:
$500
from 1940 to 1943 incl.; $1,000, 1944 to 1950 incl.; $1,500, 1951; $1,000,
1952, 1953 and 1954; $1,500, 1955; $1,000, 1956; $1,500, 1957 to 1961 incl.;
$2,000 in 1962 and $1,500 in 1963.
AVALON, Pa .—BOND SALE—The issue of $20,000 3H % bonds offered
July 31—V. 143,
Inc., of Pittsburgh.
on
473—was awarded to Singer, Deane & Scribner,
Dated Aug. 1, 1936 and due on Aug. 1, 1946.
p.
NEW BRIGHTON, Pa.—BOND OFFERING—Ivan Coene, Borough
Secretary, will receive sealed bids until 6.30 p. m. (Eastern Standard Time)
Aug. 12 for the purchase of $24,000 not to exceed 4% interest coupon
bonds.
Denom. $1,000.
Due Aug. 1 as follows:
$3,000 from 1937 to
1940 incl. and $2,000 from 1941 to 1946 incl.
Interest payable F. & A.
The bonds will be sold subject to the approval of the Pennsylvania Depart¬
ment of Internal Affairs.
A certified check for $500, payable to the order
of the Borough, must accompany each proposal.
The approving opinion
of Burgwin, Scully & Churchill of Pittsburgh will be furnished the success¬
on
BEECH GROVE, Pa.—BOND SALE—The issue of $15,000 4% coupon
bonds offered
on
Aug. 4—V. 143, p. 473—was awarded to the Beech Grove
premium of $525, equal to 103.50. Due July 1,
interest period. The bank was the only bidder.
National Bank at par plus a
1954; callable at
any
CLEARFIELD COUNTY (P. O.
Clearfield), Pa .—BOND OFFERING—
R. M. Hershey, County Controller, will receive bids until 11 a. m. (Eastern
Standard
Time) Aug.
19 for the purchase of $245,000 coupon refunding
bonds.
Bidders are to name rate of interest, making choice from 1)4%»
1 %%, 2%, 2H%, 2)4%, 22i%, 3%, 3H% and 3)4%.
Denom. $1,000.
Dated Sept. 1, 1936. Interest payable March 1 and Sept. 1.
Due $25,000
yearly from 1938 to 1942; and $30,000 yearly from 1943 to 1946. Certified
check for 2%, required.
TOWNSHIP SCHOOL
DISTRICT (P. O. Milford), Pa.
on July 30—■
310—was awarded to the First National Bank of Milford as
4^s, at a price of 104. a basis of about 3.75%.
Dated Aug. 1, 1936 and
due $1,000 on Feb. 1 from 1938 to 1947, inclusive.
DINGMAN
—BOND SALE—The issue of $10,000 coupon bonds offered
V.
143, p.
ful bidder.
NORTHUMBERLAND, Pa —BOND OFFERING DETAILS—Complete
information
bonds
is
now
available
concerning
the offering of $55,000 coupon
Proposals for the purchase of the bonds will be re¬
(Eastern Standard Time) by Harry H. Haddon,
Borough Secretary.
The bonds will bear interest at 4%, payable semi¬
annually on April 1 and Oct. 1.
Denom. $1,000.
Dated Oct. 1, 1936.
Due $1,000 in 1937 and $2,000 yearly from 1938 to 1964, incl.
Bids are
requested on the first $25,000 bonds as well as on the entire issue." Sale
will not be made at lass than par.
Certified check for 10% of amount
of bid, payable to the borough, required.
on
Aug.
18.
ceived until 7:30 p.
m.
Volume
Financial
143
SCHOOL
June 1 from 1941 to 1964 incl.
PARSONS,
Tenn —BONDS
AUTHORIZED—A $30,000
issue
industrial building bonds is reported to have been authorized recently.
DISTRICT
Other bids
were as
of
follows:
TEXAS BONDS
Premium
Bidder—
Glover &
963
Chronicle
(P. O. Ellwood City),
Pa.—BOND SALE—The $12,000 4% coupon, registerable as to principal,
bonds offered on July 31—V. 143, p. 474—were awarded to Singer, Deane
& Scribner, Inc. of Pittsburgh at par plus a premium of $791, equal to
106.59, a basis of about 3.46%.
Dated June 1, 1936 and due $500 on
TOWNSHIP
PERRY
$444.00
375.60
MacGregor, Inc
Leach Bros., Inc
E. H. Rollins & Sons_
Boufflu
——
Quoted
312.00
J. A. Evans,
251.00
201.00
Ellwood City
Lawrence Savings & Trust Co
Peoples National Bank, Ellwood City
S. K. Cunningham & Co
H. C. BURT & COMPANY
120.00
72.00
Incorporated
PITTSBURGH, Pa —BOND SALE—The $2,800,000
regis¬
tered non-callable bonds described below, which were offered on July 28
—V. 143, pp. 310 & 474—were awarded as 2^s to a syndicate comprising
Graham, Parsons & Co., Philadelphia; the Harris Trust & Savings Bank,
coupon or
Chicago; The First Boston Corp., New York; Lazard Freres & Co., Inc.,
New York; the Peoples-Pittsburgh Trust Co., Pittsburgh; F. S. Moseley
& Co., Boston; Singer, Deane & Scribner, Inc., Pittsburgh; Granbery,
Safford & Co., New York, and Schaumberg, Rebhann & Lynch, New York,
at a price of 100.82, equal to a basis of about
2.1625%:
$1,500,000 general municipal improvement bonds of 1936.
Dated July 1,
1936.
Interest payable J. & J.
Due $75,000 on July 1 from
1937 to
TEXAS
i
BALMORHEA SCHOOL DISTRICT, Tex.—BONDS VOTED—The
district has voted its approval of a bond issue of $25,000 for school improve¬
,
ments.
BEAUMONT, Texas—BOND CALL—G. H. Petkovsek, Director of
Finance, announces that the city has exercised its option to redeem, as of
Sept. 1, 1936, at par and accrued interest to that date, a block of $97,000
water works No. 2 bonds of an original issue of $500,000, dated March 1,
1914, bearing 5% interest, due in 40 years, optional at any time after 20
years.
The bonds called are numbered from 399 to 402, incl.; 405 to 489,
incl.; 492 to 498, incl., and bond number 500.
It is also announced that all
outstanding bonds of the original issue and numbered from 399 to 500, incl.,
are called for redemption whether or not specified by number above.
The
bonds will be redeemed upon presentation at the City Treasurer's office or
at the Chase National Bank, N. Y. City, as designated on the face of each
1956 incl.
1,300,000 funding bonds of 1936.
F. & A.
Due $65,000
Houston, Texas
Sterling Building
Dated Aug. 1, 1936.
Interest payable
on Aug. 1 from 1937 to 1956 incl.
Denom. $1,000.
Coupon bonds of $1,000 each, exchangeable at the
option of the holder at any time for a registered bond or bonds of the same
maturity and of the same denom. of $100 or a multiple thereof not ex¬
ceeding the aggregate principal amount of the coupon bond or bonds
surrendered in exchange thereof.
Prin. and semi-annual interest payable
at the City Treasurer's office.
READING
SCHOOL DISTRICT, Pa —PREPAYMENT OF BANK
district, with $325,000 in three-month bank loans due
$75,000 bank loan due Aug. 15, has authorized immediate
payment of the entire $400,000, saving a small amount of interest by
advance payments.
Monthly reports show the best rate of tax payments
in six years and a net drop of delinquents since June of more than $50,000.
New taxes are being paid in unusually large volume as the end of July, in
which a 1% rebate is granted, approaches.
City financial bureaus, with a heavy inflow of city taxes, have vaid
off all current bills outstanding against the city up to date.
For the first
time in nearly four years the city's books are clear of current bills for
materials, supplies or services.
bond called.
LOANS—The
Aug. 1 and
a
ROCKWOOD
SCHOOL
&
CLEVELAND,
DETROIT
VOTED—At
DISTRICT,
Pa —BOND SALE—The
Sligo
National
Bank
was
A certified check for 2% of the amount bid must accompany each
The approving opinion of Burgwin. Scully & Churchill of Pitts¬
burgh will be furnished the successful bidder.
town.
HAYS COUNTY (P. O. San Marcos), Texas—BONDS
CAROLINA
HOUSTON
(P.
Burt &
Highway Commissioners, for the purchase of
a $234,000 issue of high¬
Interest rate is not to exceed 4%, payable F. & A.
Rate
multiples of M of 1% and must be the same for all of the
bonds.
Dated Aug. 1, 1936.
Due on Feb. 1 as follows:
$23,000, 1943
and 1944; $24,000,
1945; $23,000, 1946; $24,000, 1947; $23,000, 1948
and 1949; $24,000, 1950: $23,000 in 1951, and $24,000 in 1952.
Prin.
and int. payable in lawful money at the State Treasury, Columbia, or at
the agencies of the State in Charleston or New York.
The bonds will
be general obligations of the district issued under Act No. 555,'Acts of South
Carolina, effective March 19, 1936.
The approving opinion of Caldwell
& Raymond of New York will be furnished.
These bonds are secured by
(P.
O.
Chesterfield),
S.
C.—BOND
Roth & Irving Co. of Cincinnati has purchased and is
offering to investors at prices to yield from 4,60% to 4.75%, according
to maturity, an issue of $70,000 5% refunding bonds.
Denom. $1,000.
Dated April 1, 1936.
Principal and semi-annual interest (April 1 and
Oct. 1) payable at the Central Hanover Bank & Trust Co. of New York.
Due on April 1 as follows:
$4,000, 1946 and 1948; $15,000, 1951; $5,000,
1954; $7,000, 1956; $10,000, 1958; $20,000, 1960, and $5,000, 1963.
These
bonds are direct obligations of the county, payable from unlimited ad valorem
taxes levied against all the taxable property located therein.
They were
issued for the purpose of funding into bonds certain temporary notes issued
for school and road purposes and sold by the county several years
ago in
anticipation of a later bond issue.
*
now
of
ville),
INDEPENDENT SCHOOL DISTRICT (P. O. KerrTex.—BOND ISSUANCE CONTEMPLA TED—T h e district is
planning to issue $67,000 in 4refunding bonds.
Due in
20 years.
McLENNAN COUNTY (P. O. Waco), Tex.—BONDS DEFEATED—
It is stated by W. C. Taylor, County Judge, that at an election held on
July 27 the voters defeated the proposed issuance of $200,000 in court
house and jail bonds.
(We have reported that this election was to be
held on Aug. 27, instead of July 27—V. 143, p. 635.)
PARIS, Texas—BONDS VOTED—At an election held on July 28 the
.
people voted 455 to 152 in favor of a proposition to issue
improvement bonds.
PORT
NECHES
COUNTY
(P.
O.
Spartanburg)
S.
C.—BONDS
receive
not
a
bid is probably due to the fact that unlimited ad valorem tax
Dated Aug. 15, 1936. Due from Aug. 15, 1937 to 1947.
was
pledged.
DAKOTA
SIOUX
POINT
SCHOOL
DISTRICT
NO.
7
(P.
O.
Elk
Point),
S
Dak.—BOND
OFFERING—Albert Streeter, District Clerk, will receive
bids until 8 p. m. Aug. 17 for the purchase of $2,000 bonds. Denom. $500.
Dated Aug. 24, 1936.
Due $500 yearly beginning one year after date
RED RIVER COUNTY (P. O. Clarksville), Tex.—BONDS
RISING
Texas—BONDS
STAR,
bonds to finance laying
t^ie
a recent election
proposal to issue $12,000 revenue
VOTED—At
favorably on
of gas mains.
citizens of the district voted
a
SCHOOL DISTRICT,
Texas—BONDS VOTED—A
approval of $28,000 bond issue for improving the
recent election resulted in
highschool building.
The vote was 115 "for" to 17 "against."
SEYMOUR, Texas —BOND ELECTION POSTPONED—The city has
postponed the election which was to have been held on Aug. 4 on a proposal
to issue $30,000 water works extension bonds until the Public Works
Administration allotment approval is received.
State
RURAL
SCHOOL
DISTRICT,
Texas—BONDS
Department of Education recently purchase $50,000
of the district.
school building bonds
city on
of $1,200,000
TEXARKANA, Texas—BONDS VOTED—The voters of the
July 25 gave their approval to a proposed bond issue in amount
for construction of a municipal gas plant.
WACO, Texas—BOND ELECTION—An election is said to be scheduled
of $194,000 in bonds to be used
for Aug. 8 to vote on the proposed issuance
on various relief work projects.
VIRGINIA
TRIPP COUNTY (P
O Winner), S. Dak.— WARRANTS CALLED—
Calhoun, County Treasurer, is said to have called for payment on
July 25 Nos. 466 to 989 of general fund warrants.
WHITEWOOD, S Dak —BONDS VOTED—By a vote of 71 to 7 the
residents of this city approved a proposed $15,000 water bond issue at a
recent election.
TENNESSEE
MEMPHIS, Tenn.—REPORT ON BOND RETIREMENT—Payment of
$150,000 made Aug. 1 to the Chemical Bank & Trust Co., New York
completed retirement of the city's $350,000 issue of 1911 to provide a bonus
for West Tennessee State Teachers' College.
Payment was made from 1936
tax payments as no sinking fund was created for bond retirement.
E. W. Hale, chairman or the Shelby County Commission, said a $100,000
issue will be retired
AUTHOR¬
Commissioners' Court is reported to have passed an order
authorizing the issuance of $50,000 in 4H and 43^% hospital bonds,
approved by the voters in August, 1935.
IZED—The
of issue.
C. R.
Due serially from 1937
to 1966 incl.
SOLD—The
KENNEBEC, S. Dak.—BONDS NOT SOLD—It is reported by the
Town Clerk that the $12,000 refunding bonds offered on July 6, as noted
here—V. 142, p. 4385—have not been sold as yet.
Due from Dec, 1, 1938
to June 1, 1950.
SCHOOL DISTRICT, Tex.—BOND SALE—The
bonds offered on July 30 was awarded to Aves &
Wymer of Houston as 4J^s, at a price of .100.78.
SWEETWATER
SOUTH
$100,000 municipal
issue of $40,000 school
ROCHESTER
SPARTANBURG
NOT SOLD—The $200,000 issue of not to exceed 4% coupon semi-ann.
road improvement bonds offered on Aug. 5—V. 143, p. 634—was not sold
as no bids were received.
The County Clerk reports that the failure to
Tex.—BOND
issue of $75,000 bonds of Road
said to be
A certified check for $2,000, payable to the
SALE—The Weil,
Co.
an
KERRVILLE
a
,
ROAD DISTRICT NO. 2
SALE—The County Commissioners'
District No. 2 to H. C.
Houston, and Donald,. O'Neil & Co. of Dallas at a price
COUNTY CONSOLIDATED
Houston),
of par.
bonds.
to be stated in
reimbursement agreement between the district and the State Highway
Commission, said bonds being issued for the construction of State highways.
Highway Commissioners, mast
accompany the bid.
O.
Court has sold
Aug. 19 by Winston C. Pearcy, Secretary of the Board
COUNTY
AUTHORIZED
of $65,000
—The County Commissioners Court has authorized the refunding
road and bridge fund bonds which were issued im 1903.
BERKELEY-COLLETON-DORCHESTER
HIGHWAY
DISTRICT
O
Walterboro), S C —BOND OFFERING— Sealed bids will be re¬
CHESTERFIELD
1941
(P. O. Fort
Worth) Texas—BOND SALE—The $1,350,000 issue of school building,
series of 1934 C bonas offered for sale on Aug. 5—V. 143, p. 804—was
awarded to a syndicate composed of Lehman Bros.; Blyth & Co., Inc.;
Kean, Taylor & Co.; Eldredge & Co., and the Equitable Securities Corp.,
all of New York, and the Dallas Union Trust Co. of Dallas, paying a price of
108.079 for 4% bonds, a basis of about 3.485%.
Dated Feb. 1, 1934. Due
from Feb. 1, 1952 to 1Q64.
BONDS
OFFERED
FOR
INVESTMENT—The
successful
bidders
reoffered the above bonds for general subscription at prices to yield from
3.25% to 3.45%, according to maturity.
proposal.
way
Due April 10 as follows:
FORT WORTH INDEPENDENT SCHOOL DISTRICT
or 4% coupon improvement and funding bonds.
The bonds will be dated Oct. 1,1936. Denom. $1,000. Due Oct. 1 as follows:
$20,000 from 1946 to 1956 incl. and $10,000 in 1957.
Bonds maturing on
and after Oct. 1, 1955 are callable at any interest period at a price of par.
Bonds may be registered as to principal only and the bidder is required to
name a single rate of interest.
Principal and interest (A. & O.) payable in
lawful money of the United States at the Second National Bank, Union-
of
DISTRICT, Texas—BONDS
proposed bond issue of $22,000
at the Hanover Bank & Trust Co. in New York.
2H,2M.3,3M,31^,3K
noon on
a
$25,000, 1937; $30,000, 1938 and 1939; $35,000, 1940; and $40,000,
and 1942.
UNIONTOWN
SCHOOL
DISTRICT,
Pa.—BOND OFFERING—
J. K. Spurgeon, District Secretary, will receive sealea bids until 7:30 p. m.
^Eastern Standard Time) on Aug. 12 for the purchase of $230,000 2, 2
ceived until
SCHOOL
July 29
(P. O. San Diego), Texas—BOND SALE—Dewar,
nave purchased and are now offering
$200,000 5H % road refunding bonds.
The CJering
is made at prices to yield from 2 % to 3 % %, according to maturity.
Denom.
$1,000.
Dated April 10, 1936. Principal and semi-annual interest payable
May 8.
SOUTH
on
DUVAL COUNTY
an issue of $10,000 3% coupon bonds.
Dated March 1, 1936.
Due in 30 years; red. after one year.
This issue was scheduled for sale
(P
election held
Robertson & Pancoast of San Antonio
has
of Sligo
INDEPENDENT
an
approved by the voters.
to investors an issue of
purchased
on
Tex.—BOND ELECTION—It is reported that an
on Aug. 11 in order to vote on the issuance of $90,000
purchase and sewer system bonds.
Due in not more
election will be held
in 5% water works
than 30 years.
Pa —BOND SALE—The issue
of $20,000 bonds offered on July 22—V. 142, p. 4384—was awarded to the
Union National Bank of Rockwood as 33^s at a price of par.
Due $1,000
each July 1 from 1941 to 1960 inclusive.
SLIGO,
BEAUMONT, Tex.—BOND SALE—The city has arranged with Fenner
Beane of New Orleans for the sale of $80,000 3M% refunding bonds
a like amount of 5% bonds outstanding.
being issued to retire
next Jan.
1.
Funds
are
on
hand for payment of the
bonds, which were issued in 1910 and 1912 at 4H%.
RICHMOND,
Va—RECENT
STUDY
REFLECTS
FAVORABLE
CONDITION—Basing their remarks on the results of a
analysis of all phases of the city's finances, which form
the basis for a financial study now available in booklet form, Lazard
Freres & Co., Inc. of New York, reach the following conclusions with
respect to the credit status of the city;
The financial situation in Richmond does not appear to involve any
FINANCIAL
recent exhaustive
significant elements that militate against the credit standing of the
city
On the other hand, the following favorable factors are worthy of note:
1. Conservative budgetary practice.
2. Satisfactory tax collections.
3. Comparatively light debt burden.
4.
Sound sinking funds.
5.
Low
tax
rate.
Efficient management of municipally-owned utilities.
In view of these factors, we believe that the bonds of the City of Richmond
6.
warrant a
high credit rating.
Financial
964
TAPPAHANNOCK, Va.—BOND ELECTION—An election is said to
Sept. 1 for a vote on the issuance of $40,000 in water,
and municipal building bonds.
Aug. 8, 1936
Chronicle
on a
for 3 M %. The State of Wyoming was the only other bidder.
Due $2,000 yearly beginning July 1, 1938; optional
bid of par
be scheduled for
Dated July 1, 1936.
sewer
on any
interest payment date.
Wyo—BONDS VOTED—At a recent election a pro¬
light and power plant bonds was approved
MOORCROFT,
posal to issue $20,000 municipal
by the voters.
NORTHWESTERN MUNICIPALS
Washington
—
Oregon
Idaho
—
—
ROCK SPRINGS, Wyo —BOND
not less than par
Ferris & Hardgrove
after
one
year.
,
PORTLAND
SEATTLE
SPOKANE
Teletype—SEAT 191 Teletype—PTLD ORE 100
Teletype—SPO 176
OFFERING— Lawrence G. Sturholm,
7:30 p. m. Aug. 17 for the purchase at
of $40,000 4_% Street Paving District No. 13 improvement
bonds.
Denom.
$1,000.
Dated
Aug.
15,
1936.
Interest
payable
annually.
Due Aug. 14, 1946; redeemable at option of the city any time
City Clerk, will receive bids until
Montana
Canadian Municipals
Information and Markets
WASHINGTON
DISTRICT NO. 1 (P. O. Colfax),
Manring, County Treasurer, will
Aug. 15 for the purchase of $32,000
not to exceed 6% interest bonds.
Said bonds to be dated when issued and
to be in such denominations as may be agreed upon and which, as near as
practicable, may be met by equal annual tax levies to cover principal and
interest; to mature and become payable serially in their numerical order,
lowest numbers first, on the interest payment dates.
The bonds to rim a
maximum period of 20 years their various maturities beginning the second
year after the date of issue; provided, that the school district reserves the
right to pay or redeem said bonds, or any of them, at any time after 10
years from the date thereof.
Principal and interest payable at the County
Treasurer's office, State Treasurer's office, or at the fiscal agency of the
State in New York City.
A certified check for 5% of amount bid must
WHITMAN COUNTY SCHOOL
BRAWLEY, CATHERS & CO.
F.
OFFERING—B.
Wash.—BOND
receive sealed bids until 10 a. m. on
accompany
each offer.
VIRGINIA
WEST
COUNTY
LOGAN
(P.
O.
W. Va .—BOND ELECTION—
election on Sept. 15
bonds will be sub¬
Logan),
The County Board of Education has decided to hold an
at which a proposal to issue $180,000 school building
mitted to the voters.
WEST
„
VIRGINIA,
State
of—BOND SALE—The $500,000 issue of
road bonds offered for sale on Aug. 4—V. 143, p. 804—was awarded fo
Brown Harriman & Co., Inc., of New York at a price of 100.0090, a net
2.23%, on the bonds divided as follows:
$120,000
28, maturing $20,000 from Sept. 1, 1936 to 1941, incl., and $380,000
2A';, maturing $20,000 annually from Sept. 1 1942 to 1960, incl.
TfcJe second highest bid was submitted by Phelps, Fenn & Co. of New
York, a tender of $32 premium on the bonds divided as follows:
$480,000
as 2Kb,
with $20,000 maturing in 1947 as 2s, giving a net interest cost
of about 2.24%.
•
BONDS OFFERED FOR SUBSCRIPTION—The successful bidder reoffered the above bonds for public investment at prices yielding from
0.50 to about 2.29%, according to maturity.
These bonds are said to be
legal investments in New York, Massachusetts and Connecticut.
interest cost of about
as
as
OTHER BIDS—Mackey, Dunn & Co. and
of
First Citizens Bank & Trust
Smithfield, N. C., were very close to the Phelps, Fenn bid, offering
100.099 for all 2Ms, an interest cost basis of approximately 2.24%.
Stranahan, Harris & Co. bid 100.017. for the 1936-39 maturities as 2Ms
and the remaining $420,000 as 2Ms, an interest cost
Stuart & Co., Bancamerica-Blair Corp., George
Burr &
Co.
for $100,000 3s and the remainder as 2Ms, an
100.021
bid
ba^lis of 2.26%. Halsey,
B. Gibbons & Co. and
interest cost basis of 2.274%.
Bankers Trust Co. bid 100.099 for $100,000
3s and $400,000 2Ms, a basis of 2.741%.
Lehman Bros, bid 100.01 for $100,000 3Ms and $400,000 2Ms, a basis
of 2.284%; while Lazard Freres & Co. bid 100.011 for $100,000 3Ks and
$400,000 2Ms, a basis of 2.291 %
F. S. Moseley & Co. bid 100.04 for $110,000 3'Ms and $390,000 2Ms,
a basis of 2.298%.
Gertler & Co. bid 100.013 for $150,000 3s.and $350,000
2Ms, a 2.31%,basis. Chase National Bank bid 100.089 for $200,000 3s
and $300,000 2Ms, a basis of 2.363%. Edward B. Smith & Co. bid 100.029
for $100,000 4s and $400,000 2Ms.
^
•
.
WISCONSIN
CALUMET
COUNTY
(P.
O.
Chilton),
Denom. $1,000.
Dated Aug. 1,1936.
Interest payable Feb. 1 and Aug. 1.
Due Aug. 1, 1948.
Certified check for 5% of amount of bonds, payable
to the County Clerk, required.
■
MADISON, Wis.—BOND OFFERING—A. W. Bareis, City Clerk, will
of $66,000
4% bonds, divided
as
a. m.
on
Aug. 11 for the purchase
ELGIN
WEST, TORONTO
6438
CANADA
(Province of)—INAUGURATES PROSPERITY CERTIFI¬
CATES PROGRAM—The Province of Alberta on Aug. 5 began its experi¬
ment with "velocity dollars" by distributing them as wages to persons on
public works projects.
It was the attempt of a Government—elected on a promise to bring
"social credit" to Alberta—to keep its pledge.
The "velocity dollars" are
a modified form of scrip used by many American communities during the
depression.
Friends and foes of the Aberhart Government predict it will
stand or fall with the success or failure of the scheme.
The "velocity dollars," which Prime Minister William Aberhart prefers
to call "prosperity certificates," call for the purchase of special stamps by
the persons receiving them.
Actually, the "dollars" are nothing but pieces
of paper.
Anybody who keeps one more than a week must buy a stamp and
affix it to the certificate.
The stamp money goes to the Government.
K
When stamps have been placed on all the blank spaces, the certificates
can be turned into the Government which redeems them for $1 each.
The
idea is based on the theory that prosperity will come whenever money starts
circulating at sufficient speed.
■; Alberta, which has a limited Treasury, faces one danger, Mr. Aberhart
believes.
That is that the certificates will be turned in so fast for redemption
that there will not be enough cash to take them up.
The Government also concluded plans today to survey the Province's
resources and register citizens as the first step toward payment of "social
ALBERTA
.
credit"
■
dividends.
said to be wholly separate links in the social
reception accorded by citizens and business interests
accompanying both features may play an important part
in deciding the fate of Mr. Aberhart's ambitious experiment.
The two developments were
credit scheme, but the
to the conditions
Que.—BOND
ARVIDA,
OFFERING—R.
4 p. m.
Treasurer, will receive sealed bids until
of $160,000
L.
on
Latraverse, SecretaryAug. 12 for the purchase
4% improvement bonds, due serially on Aug. 1 from 1937 to
1961 inclusive.
EDMONTON, Alta.—REVENUES HIGHER—Due mainly to the fac*
collections was changed this year, revenue from
that the due date for tax
city tax departments for the first six months of the year show an increase
of $768,986 compared with the same period last year.
Collections to
June 30 totaled $2,902,861, while collections for the same period last year
amounted to
$2,133,875.
'
Que.—BOND OFFERING—Camille Bonin,
SecretaryTreasurer, will receive sealed bids until 8 p. m. on Aug: 10 for the purchase
of $55,000 3, 3^ or 4% interest improvement bonds, due in 1966.
JOLIETTE,
Ont.—SINKING
LONDON,
FUND
TO PURCHASE BONOS—The
sinking fund will purchase $485,581.20 bonds to finance relief projects
carried out in 1935.
The money was borrowed from a local bank at time of
construction.
The issue has been approved by the Ontario Municipal
N.
MONCTON,
B.—TAX COLLECTIONS LARGER—Tax collections
during June amounted to $519,126 as compared with $479,672 for
corresponding month in 1935, an increase of $39,453 for June this year.
the
COMMISSION, Que.—COMPONENT
DELINQUENCY—In keeping with the trend over
MONTREAL METROPOLITAN
UNITS REDUCE TAX
two years, an aggregate drop of around
taxes was shown for the month of June by the 11
the
past
$100,000 in arrears of
solvent municipalities
Commission, according to report submitted
by E. T. Sampson, Secretary-Treasurer, and J. H. Levesque, chief account¬
ant.
As of June 30, 1936, sums collectible stood at $1,541,000 compared
with $1,641,000 due at the end of May.
At the same time, arrears of the three bankrupt towns, Pointe aux Tfemr
bles, Montreal North, and Saint Michel de Laval, were lower by $9,000
at the end of June to stand at $180,000.
The figure was $208,000 on June
30, 1935. Towards the reduction Pointe aux Trembles contributed $2,000,
Montreal North $5,000, and Saint Michel another $2,000.
under Montreal's Metropolitan
follows:
Dated Oct. 1, 1936.
Due Oct. 1 as follows:
$6,000 in 1942 and $5,000 from 1943 to 1951 inclusive.
15,000 refunding bonds.
Dated Sept. 1, 1936.
Due Sept. 1 as follows:
$6,000 in 1942 and $1,000 from 1943 to 1951 inclusive.
$51,000 refunding bonds.
Denom. $1,000.
ST.
KING
Board.
Ws.-^BOND OFFERING—
Roland E. Miller, County Clerk, will receive bids until 10 a. m. Aug. 12
for the purchase of $60,000 3% series E highway improvement bonds.
receive sealed and auction bids until 10
25
The approving opinion of Chapman & Cutler of Chicago
that the bonds are valid and enforceable obligations
furnished the successful bidder.
of the city will be
MILWAUKEE COUNTY (P. O. Milwaukee), Wis.—BOND OFFER¬
M. Sommers, County Treasurer, will receive bids until
a. m.
(Central Standard Time) Aug. 31, for the purchase at not less
than par of $2,500,000 coupon registerable as to principal relief bonds.
Bidders are to name rate of interest, in a multiple of M %, but not to exceed
3%.
Denom. $1,000.
Dated Sept. 1, 1936.
Principal and semi-annual
interest (March 1 and Sept. 1) payable at the County Treasurer's office, or
at the fiscal agency in New York, at holder's option.
Due March 1 as
follows:
$125,000, 1937 to 1943; $625,000, 1944; and $1,000,000, 1945.
Bonds are direct general obligations of the entire .county, and are payable
out of irrepealable unlimited ad valorem taxes.
Legal opinion of Chapman
& Cutler of Chicago will be furnished by the county.
No deposit is required,,
and special bidding forms are not necessary
:
ING—Clarence
10
—BOND SALE—The $34,000 4H % sinking fund
23—V. 143, p. 476—were awarded to Fry & Co. of
104.29, a basis of about 4.18%.
Dated Dec. 1, 1935,
and due Dec. 1, 1955.
Other bidders were:
PORT ARTHUR, Ont
bonds offered on July
Toronto at a price of
Price Bid
104.00
Name—
Bell, Gouinlock & Co., Toronto
Wood, Gundy & Co.. Ltd., Toronto
The Great West Life Assurance Co., Toronto
102.07
100.00
.
METOMEN,
offered for sale
Wis.—BOND
SALE—The
$37,000 issue
of road
bonds
Aug. 3—V. 143, p. 636—was awarded to the Milwaukee
Co. of Milwaukee for a premium of $555, equal to 101.50, according to the
Town Clerk. Dated July 15,1936. Due from July 1,5,1937, to 1951incl.
on
SOUTH MILWAUKEE, Wis.—BONDS AUTHORIZED—1The Common
Council is said to have voted recently to issue $150,000 in sewer bonds, to
be used as a supplement on a Public Works Administration grant.
STEVENS POINT, Wis.—BOND ELECTION SCHEDULED—It is now
reported that the election previously set for July 28, to vote on the issuance
of $200,000 in high school bonds, as noted here—V. 143, p. 804—has been
postponed to Sept. 15.
VILAS COUNTY
(P. O. Eagle River), Wis —PRICE PAID—In con¬
nection with the sale of the two issues of 4% semi-ann. general obligation
bonds aggregating $64,000, purchased by the First National Bank of
Eagle River, as noted in these columns—V. 143, p. 804—it is stated that
the bonds were sold for a premium of $1,000, equal to 101.56, a basis of
about 3.81% on the issues divided as follows:
$43,000 series G bonds.
Due from April 1, 1937 to 1956 incl.
21,000 series H bonds.
Due $1,000 from June 1, 1936 to 1956 incl.
WOOD COUNTY
(P. O. Wisconsin Rapids), Wis.—NOTES AUTH~
ORIZED—The County Board of Supervisors has authorized the issuance of
$250,000 corporate purpose notes.
WYOMING
BIG HORN COUNTY SCHOOL DISTRICT NO. 1 (P. O. Byron),
Wyo.—BOND SALE—The $24,000 school building bonds offered on
July 31—V. 143, p. 804—were awarded to Geo. W. Vailery & Co. of Denver
Griffis, lairclough & Norsworthy,
Ltd., Toronto.
99.50
QUEBEC, Que.—SCHEDULES RELIEF FINANCING—'The city will
shortly borrow $500,000 to raise its share of unemployment relief expenses.
Of the total, $175,000 will be in the form of a 5% bond issue, due over a"
/
period of 30 years.
HYACINTHE, Que.^-BOIVD OFFERING—Sealed bids will be
received until Aug. 18 for the purchase of $25,000 4% bonds, maturing
serially from 1937 to 1966, inclusive.
ST.
SAINT
JOHN, N. B.—TAX RATE CUT—The tax rate for
This is 32 cents lower than last year's rate.
1936 is
$3.68 per $100.
LAMBERT, Que.—EXPECT MAY 1 INTEREST PAYMENT—
Subject to unforeseen circumstances the bondholders of the City of St. Lam¬
bert, Que., will get the interest on the bonds they hold which was due on
May 1 last, in about three weeks.
By that time the petition of the city to
ST.
be considered in default
on
the payment of capital and interest, and its
request to be placed under the administration of the Quebec Municipal
Commission will have been dealt with in the superior court.
The Com¬
mission
will
then
order
the
St.
Lambert City Council to
pass
a
formal
advance the money for the payment of the
May interest, and the bondholders will be paid.
No payment will be made
of the capital of serial bonds now due, so that in this respect the city will
still be in default, but a conversion project is being worked out with the
Commission by which all capital will eventually be paid in full.
resolution asking the bank to
Ont.—TAX COLLECTIONS IMPROVE—Finance Com¬
year's collections of current taxes
1935'. Realty and business taxes
received so'far in the first instalment period were increased 2.19% over last
year, the Commissioner said. An improvement in the collection of arrears
of 1.15% afe compared with 1935 was shown.
The total collected to June 20
was $22,793,869, which included $4,002,345 in arrears.
TORONTO,
missioner George Wilson reports that this
and arrears both are much improved over
VILLE
LA
SALLE
SCHOOL COMMISSION,
Que.—BOND OFFER¬
ING—Sealed bids will be received until Aug. 18, for the purchase of $4,000
5% bonds, due serially on July 1 from 1937 to 1946, inclusive.
@FedFRASER